Keren Benjamin Trust Annual Financial Statement and Trustees, Report Year Ended 30 September 2024 ReÉitteredthatTty Number." LI￿72 Keren Benjamin Trust Annual Financial Statement and Trustees. Report Year Ended 30 September 2024 Table of Contents Table of contents CIO Information Trustees, Annual Report Report of the Independent Examiner Statement of Financial Activities Balance Sheet Notes to the financial statements 8-10 Keren Benjamin Trust Charity Information Registered Charity Number: 1194072 Legal form.. Charitable Incorporated Organisation Trustees.. Alexander Nahum Fine Roman Jurfevic Sosnovskyi Naomi Fine Chair of Governors.. Alexander Fine Independent Examiner: Ig Accountants Chartered Accountants Churchill House 137-139 Brent Street London NW4 4DJ Principal Address: Churchill House 137-139 Brent Street London NW4 3QU Keren Benjamin Trust Trustees, Report The trustee5 of the Keren Benjamin trust I'the Chariw) present their annual report and financial statements for the year ending 30 September 2024. Constltutlon and objectives The Charity is a Charitable Incorporated Organisation, formed pursuant to the Charitable Incorporated Organisations IGenerall Regulations 20212, and registered with the Charity Commission on 12th April 2021 under registration number 1194072. It is governed by its constitution, last updated 8th April 2021. Under that constitution. the Charitls objectives are the relief of financial hardship and the advancement of the Orthodox Jewish faith. The charity achieves its objectives by making financial grants to or on behalf of individual recipients and to partner institutions. Trustees The followin8 trustees served throughout the financial period and to date.. Mr Alexander Nahum Fine Ichairl Mr Roman Jur'evic $05novskyi M5 Naomi Fine Appointment of Trustees is governed by the Constitution of the charity- The Board of Trustees is authorised to appoint new Trustees to fill vacancies arising from resignation or death of an existing Trustee. Trustees are provided with an induction upon assuming their role. Achlevements and performance and public beneflt During the period, the charity disbursed grants of £l,00012023: £6,900), comprising I grant to individual for the purpose of the alleviation of poverty12023.. £3.800 to l individual for the alleviation of poverty and £3.600 to 2 tharitable institutions, for the purpose of advancing the Orthodox Jewish faith.) The trustees have had regard to charity commission guidance on public benefit in the activities of the charity and in particular in making grant decisions. Future Plans The trustees intend to continue grant making activities on a similar scale to activities reported in these financial statements. Keren Benjamin Trust Trustees, Report Financial Review During the period income was £6,70912023: £7,8.741, expenditure was £2,64512023'. £8,7951 and the resulting surplus in the year was £4,06412023: deficit of £9211. The accumulated surplus funds as at 30 September 2024. was £2.08612023= £1.978 deficit fundsl. Reserves policy Having regards to the discretionary nature of its main grant making artivity, which can be matched to available income, the trustees have adopted a policy to alway5 maintain a surplus of £600 to meet any urgent need5. The charivs funds at the year-end was a surplus of £2,086, which was satisfactory. ststement Of Trustees Responsibilities The trustees acknowledge their responsibility for preparing the Trustees, Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) The law applicable to charities in Englaftd and Wales requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources for that period. In preparin8 the financial statements, the trustees are required to Select suitable accounting policies and then apply them consistentlv; Observe the methods and principles in the applicable Charity SORP: Make judgements and estimates that are reasonable and prudent; • State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustee5 are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity ond to enable them to ensure that the financial statement5 comply with the Charities Act 2011, applicable Regulations, and the provisions of the constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the trustees on 11 June 2025 and signed on their behalf by Mr Alexander Fine Chair of Trustees Keren Benjamin Trust Independent Examinerfs Report to the Trustees Year Ending 30 September 2024 I report to the charity trustees on my examination of the accounts of the CIO for the period ended 30 September 2024. Responsibilities and basis of report As the charity trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the CIO'S accounts carried out under section 145 of the Act. In carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examlnerfs statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept as required by section 130 of the Act- or • the accounts do not accord with those records. Shaya Grosskopf FCA Ig Accountants Chartered Accountants Churchill House 137-139 Brent Street London NW4 4DJ 11 June 2025 Keren Benjamin Trust Statement of Financial Activities For the Year Ending 30 September 2024 Note Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Income Donations, legacies and grants Investment income Total income 6,707 6,707 7,871 6.709 6,709 7,874 Expenditure Expenditure on charitable activities Governance costs Total expenditure 1,085 1,085 7,535 1,560 2.645 1,560 2.645 1,260 8,795 Net surplus I Ideflcltl and net movement in fund5 for the perlod 4,064 19211 Reconclllatlon of funds Total deficit funds brought forward Total surplus / {deflcltl funds carrled forwards {1,9781 11,9781 11,0571 2,086 2,086 11,9781 The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities. Keren Benjamin Trust Statement of Financial Position As at 30 September 2024 Note Total Funds 2024 Total Funds 2023 Current Assets Debtors Cash at bank Total Current Assets 600 4.306 4,906 842 842 Liabilities Creditors falling due within one year Net current assets 12,8201 2,086 12,8201 11,978) Total asset5 le55 current liabilities 2,086 11,978) Net assets 2,086 11,978) Charlty funds Unrestricted Ideficitl funds Restricted funds Total (deficit} funds carrled forwards 2,086 11,9781 2,086 11,978) The notes at pages 9 to 14 form part of these accounts. Approved by the trustees on 11 June 2025 and signed on their behalf bv: Mr Alexander Fine Chair of Trustees Registered Charity Number.. 1194072 Keren Benjamin Trust Notes to the Financial Statements Year ending 30 September 2024 l. Accounting Policies lal Basis of preparation and assessment of going con￿rn The legal form and address of the CIO are presented in the CIO infom)ation on page 2. The financial statements have been prepared under the historical cost convention with items reco8nised at C05t OT transaction value. Financial amounts are presented to the nearest £ which is the functional and presentation currency of the CIO. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. The CIO constitutes a public benefit entity as defined by FRS 102. The CIO qualifies for and has taken advantage of the exemption for smaller entities from preparing a cashflow statement. Ibl Income Income is recognised when the CIO has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received, and the amount can be measured reliably. Icl Expenses Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure. it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including SUPPOrt costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to note Ilel below. Idl Taxes As a charitable enterprise the CIO is exempt from income taxe5. Irrecoverable VAT is charged against the expenditu￿ heading for which it was incurred. lel Allocation of costs Governance costs comprise all costs involving the public accountability of the CIO and its compliance with regulation and good practice. Other support costs include other administrative expenses associated with the operation of the CIO are allocated between charwtable and governance costs. Keren Benjamin Trust Notes to the Financial Statements Year ending 30 September 2024 Icontinuedl If) Going Concern The trustees have elected to prepare the financial statements on the going concern basis. Although there was an accumulated deficit at the period end the trustees are confident in their ability to raise funds to pay the debts of the charity as they fall due and to continue its program of grant giving. IE) Period of accounts The Charity's first period of accounts for the period ending 30 September 2022, reported as a comp3r3tor in these financial statements. covers a period of more than one year. 2. Income Unrestrirted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Donatlons, le8acles, and grants Donations received Total donations, legacies, and grants Bank interest received Total Investment Income 6,107 6,107 6,107 6,107 7.871 7,871 Total Income 6,109 6,109 7,874 3. Expenditure Unrestricted Funds 2024 Restritted Funds 2024 Total Fund5 2024 Total funds 2023 Costs of charitable artivities Grants paid to individuals Grants paid to Charities Allocated su ort cost Bank charges Total costs of charltable activitles 1,000 3.800 3.600 85 1,085 85 1,085 135 7,030 Governance costs Independent examination fees Registered office fees Total governance costs 1.260 3(K) 1.560 1,260 300 1.560 960 300 1.560 Total expenses 2,645 2,645 8,590 io Keren Benjamin Trust Notes to the Financial Statements Year ending 30 September 2024 Icontinuedl 4. Creditors due in less than one year 2024 2023 Trade creditors Accruals 1,560 1.260 2.820 1,560 1,260 2.820 5. Transactions with trustees and related party transactions The a88re8ate amount donated by the trustees in the period was £6,00712023.. £7,533) No trustee drew remuneration, expenses or obtained any benefits from the charity. 6. Independent Examinerfs Fees The independent examiner was paid £1,26012023.. £9601 in relation to the preparation and examination of the financial statements, and £3C(J12023: £3￿) in relation to the provision of a registered office for the charity. li