**REGISTERED CHARITY NUMBER: 1196464**
## **TZDUKES YAKOV (CIO)**
**REPORT OF THE TRUSTEES AND**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS
**TZDUKES YAKOV (CIO)**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||1||
|**Report of the Trustees**|2|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**||6||
|**Notes to the Financial Statements**|7|to|12|
**TZDUKES YAKOV (CIO)**
## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025**
## **TRUSTEES**
Mr Y Oestreicher Mr A M Oestreicher N Weinstock
## **PRINCIPAL ADDRESS**
Flat 1A Enville Court Cazenove Road London N16 6AS
## **REGISTERED CHARITY** 1196464 **NUMBER**
## **INDEPENDENT EXAMINER**
Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS
Page 1
## **TZDUKES YAKOV (CIO)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
The information is shown on page 1 of the financial statements and forms part of this report.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The advancement of the Orthodox Jewish Faith in such ways as the charity trustees shall from time to time think fit.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
## **ACHIEVEMENTS AND PERFORMANCE**
## **Charitable activities**
The trustees are pleased with results of the year. Both income an expenditure rose by about 9% and the charity was left with a small surplus for the year.
## **FINANCIAL REVIEW**
## **Reserves policy**
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end were £1,672,088 (2024 - £1,670,461 being net assets.
## **FUTURE PLANS**
The trustees anticipate that the charity will continue on a similar basis in the foreseeable future subject to satisfactory income and there are no plans for any major changes
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Constitution**
The charity was constituted as a CIO - Foundation and registered on 8 November 2021.
## **Recruitment and appointment of new trustees**
The day-to-day affairs of the company are administered by the trustees. The power to appoint new trustees is vested in the continuing board. It is not the intention of the trustees to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment, induction and training procedures.
## **Risk management**
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 2
## **TZDUKES YAKOV (CIO)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued**
Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and The Charity (Accounts and Reports) Regulations 2008. 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 order of the board of trustees on 27 January 2026 and signed on its behalf by:
Mr Y Oestreicher - Trustee
Page 3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TZDUKES YAKOV (CIO)**
## **Independent examiner's report to the trustees of Tzdukes Yakov (CIO)**
I report to the charity trustees on my examination of the accounts of Tzdukes Yakov (CIO) (the Trust) for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's 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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
E Meyer FCA BSc
Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS
27 January 2026
Page 4
## **TZDUKES YAKOV (CIO)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025**
|**Notes**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Investment income
3
**Total**
**EXPENDITURE ON**
Raising funds
4
**Charitable activities**
5
Grantmaking
Support
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**2025**
**Unrestricted**
**fund**
**£**
1,000
116,806
117,806
8,185
106,276
1,718
116,179
1,627
1,670,461
1,672,088|**2024**
**Total**
**funds**
**£**
-
107,871|
|---|---|---|
|||107,871|
|||5,133
100,576
1,680|
|||107,389|
|||482
1,669,979|
|||1,670,461|
The notes form part of these financial statements
Page 5
## **TZDUKES YAKOV (CIO)**
## **BALANCE SHEET 31 MARCH 2025**
|**Notes**
**FIXED ASSETS**
Investment property
9
**CURRENT ASSETS**
Debtors
10
Cash at bank
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
12
Unrestricted funds
**TOTAL FUNDS**|**2025**
**Total**
**funds**
**£**
1,682,121
60
3,059
3,119
(13,152)
(10,033)
1,672,088
1,672,088
1,672,088
1,672,088|**2024**
**Total**
**funds**
**£**
1,682,121
60
597
657
(12,317)
(11,660)
1,670,461
1,670,461
1,670,461
1,670,461|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 27 January 2026 and were signed on its behalf by:
Mr Y Oestreicher - Trustee
The notes form part of these financial statements
Page 6
**TZDUKES YAKOV (CIO)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
## **Judgements and key sources of estimation uncertainty**
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The valuation of investment properties is inherently subjective, depending on many factors, including the individual nature of each property, its location and expected future net rental values, market yields and comparable market transactions. Therefore, the valuations are subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income:
Donations are included in full in the Statement of Financial Activities when received. Income from investments is included in the year in which it is receivable.
## **Expenditure**
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.
Raising funds comprise investment management costs relating to the investment properties. Grants are only recognised in the accounts when paid.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
## **Investment property**
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Financial instruments**
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the amount expected to be received or paid and not discounted.
## **Going concern**
Page 7
## **TZDUKES YAKOV (CIO)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **1. ACCOUNTING POLICIES - continued**
There are no material uncertainties about the charity's ability to continue.
|**2.**
**DONATIONS AND LEGACIES**
Donations
**3.**
**INVESTMENT INCOME**
Rents received
**4.**
**RAISING FUNDS**
**Investment management costs**
Portfolio management
**5.**
**CHARITABLE ACTIVITIES COSTS**
**Grant**
**funding of**
**activities**
**(see note**
**6)**
**£**
Grantmaking
106,276
Support
-
106,276
**6.**
**GRANTS PAYABLE**
Grantmaking
The total grants paid to institutions during the year was as follows:
Relief of poverty
Advancement of education
Advancment of religion
Social welfare|**2025**
**£**
1,000
**2025**
**£**
116,806
**2025**
**£**
8,185
**Support**
**costs (see**
**note 7)**
**£**
-
1,718
1,718
**2025**
**£**
106,276
**2025**
**£**
11,516
1,964
12,536
80,260
106,276|**2024**
**£**
-
**2024**
**£**
107,871|**2024**
**£**
-|
|---|---|---|---|
|||**2024**
**£**
5,133
**Totals**
**£**
106,276
1,718|**2024**
**£**
5,133|
|||107,994||
|||**2024**
**£**
100,576||
|||**2024**
**£**
4,752
1,360
9,032
84,932||
|||100,076||
Page 8
## **TZDUKES YAKOV (CIO)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **6. GRANTS PAYABLE - continued**
## **7.**
|Yeshuos Shabbos|80,080
10,000
8,368
7,828
106,276
**2025**
**2024**
**£**
**£**
-
500
**Governance**
**costs**
**Totals**
**£**
**£**
1,706
1,718
**2025**
**2024**
**Total**
**Support**
**activities**
**£**
**£**
12
-
**2025**
**2024**
**Total**
**Support**
**activities**
**£**
**£**
840
840
840
840
26
-
1,706
1,680|
|---|---|
|Beir Mordechai||
|Amud Hatzdokoh Trust||
|Others under £5,000||
|||
|||
|||
|The total grants paid to individuals during the year was as follows:
Relief of poverty
**SUPPORT COSTS**
**Other**
**£**
Support
12
Support costs, included in the above, are as follows:
**Other**
Sundries
**Governance costs**
Independent examiner's fee
Independent examiner's other fees
General expenses||
Page 9
**TZDUKES YAKOV (CIO)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
## **9. INVESTMENT PROPERTY**
|**FAIR VALUE**
At 1 April 2024
and 31 March 2025
**NET BOOK VALUE**
At 31 March 2025
At 31 March 2024|**£**
1,682,121|
|---|---|
||1,682,121|
||1,682,121|
The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the trustees who are considered to have the experience and expertise required to undertake such an exercise. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties in the same or similar locations.
## **10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|||**2025**|**2024**|
|---|---|---|---|
|||**£**|**£**|
||Other debtors|60|60|
|**11.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|||**2025**|**2024**|
|||**£**|**£**|
||Other creditors|13,152|12,317|
|**12.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|**At 1.4.24**
**£**
1,670,461
1,670,461|**Net**
**movement**
**in funds**
**£**
1,627
1,627|**At**
**31.3.25**
**£**
1,672,088|
|---|---|---|---|
||||1,672,088|
Page 10
## **TZDUKES YAKOV (CIO)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **12. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
117,806
117,806|**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(116,179)
1,627
(116,179)
1,627|
|---|---|---|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
Comparative net movement in funds, included in the above
**Unrestricted funds**
General fund
**TOTAL FUNDS**|**At 1.4.23**
**£**
1,669,979
1,669,979
are as follows:
**Incoming**
**resources**
**£**
107,871
107,871||**Net**
**movement**
**in funds**
**£**
482
482
**Resources**
**expended**
**£**
(107,389)
(107,389)|**At**
**31.3.24**
**£**
1,670,461
1,670,461
**Movement**
**in funds**
**£**
482
482|
|---|---|---|---|---|
||||||
||||||
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|**At 1.4.23**
**£**
1,669,979
1,669,979|**Net**
**movement**
**in funds**
**£**
2,109
2,109|**At**
**31.3.25**
**£**
1,672,088|
|---|---|---|---|
||||1,672,088|
Page 11
## **TZDUKES YAKOV (CIO)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **12. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
225,677
225,677|**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(223,568)
2,109
(223,568)
2,109|
|---|---|---|
## **13. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2025.
Page 12