CHARITY REGISTRATION NUIABER: 1197134 Belz Cheider Unaudited Financial Statements 31 August 2024 BRINDLEY LD TEIN LIMITED Chartered accountants 103 High Street Waltham Cross Herts Belz Cheider Financial Statemenls Year ended 31 Augusl 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Statement of cash flows Notes to the financial statements Belz Cheider Trustees, Annual Report Year ended 31 Augusl 2024 The Iruslees present their report and the unaudited financial statements of the charity lor the year ended 31 August 2024. Reference and admlnlstratlve detalls Reglstered charlty name Belz Cheider Charlty reglstratlon number 1197134 Prlnclpal offl¢e 36 Leweslon Place London N16 6RH The trustees Mr Pinchos Englander Mr Joseph Panelh Mr Chaim Bard Independent examlner Charles Goldslein FCA 103 High Sireel Wallham Cross Herts EN8 7AN Structure, governance and management Belz Cheider is a Charitable Incorporaled Organisalion, registered with the Charity Commission and governed by ils conslilulion dated 14 December 2021. obje￿IVeS and acllvllles The strategic objective ol the charity is the advancement ol education and the prornolion ol the Jewish Faith lor the public benefit ol Orthodox Jews Ihroughoul England and Wales. The charity aims lo support and fund schools and educational institutions for peoplè in need by providing meals and Iransportalion lo and from these eslablishmenls. Following the successful transition ol proprietorship in Juty 2023, Belz Cheider has now lully established ilsell as the operating charity responsible for the ongoing managernenl and development ol Talmud Torah Bels Aharon. Over Ihe course of the past year, the charity has con501idaled 115 administrative and financial systems, including payroll, slaff ing and compliance infrastructure. The school continues lo grow under Belz Cheider's stewardship, with all responsibilities and liabilities now fully assumed. The focus during this reporting period has been on slabilising the operational framework, improving governance and ensuring the continued delivery of high quality religious and general education in accordance ￿th the school's values and the regulatory requirements of relevant governmental bodies. Belz Cheider Trustees, Annual Report (Contin￿d) Year ended 31 Augusl 2024 Achievements and performance During the year under review. the charity received charitable income and donations amounting to £989,846 12023.. £1,300) and made contributions to chaiilable activities tolalling £946,433 12023.. £1,095), resulting in a surplus ol income over expenditure of £43.41312023.' £2051. Flnanclal revlew The financial results ol the Charitys activities lor the year rellecled in the attached financial statements together with the notes Ihereon. The trustees, annual report was approved on 24 June 2025 and signed on behalf of the board ol trustees by.. Mr Pinchos Englander Trustee Belz Cheider Independent Examiner's Report lo the Truslees of Belz Cheider Year ended 31 Augusl 2024 I report to the trustees on my examination of the financial statements ol Belz Cheider I'lhe charilll for the year ended 31 August 2024. Responsibilities and basis of report As the trustees of the charity you are responsible lor the preparation ol the financial slalemenls in accordance with the requirements of the Charities Act 2011 I'lhe Acl'l. I report in respect ol my examination ol the charitvs linancial slalements carried out under section 145 ol the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5llbl ol Ihe Act. Independent examlnor's statemont Since the charity's gross income exceeded £250,000 your examiner musl be a member of a body listed in section 145 01 the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member ol the Inslilule ol Chartered Accounlanls in England and Wales IICAEWI, which is one ol the listed bcKiies. I have completed my examination. I confirm that no material matters have come lo my attention in connection with the examinalion giving me cause lo believe Ihat in any material respect.. accounting records were not kept in respect ol the charity as required by section 130 of the Act., or the financial slalements do not accord with those records; or the financial statements do not comply with the applicable requirements concerning the form and conlenl ol accounts sel out in the Charilies (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and lair. view which is not a matter considered as part ol an independent examination. I have no concerns and have come across no olher matters in connection with the examination to which allenlion should be drawn in this report in order lo enable a proper understanding ol the accounts lo be reached. Charle5 Gold51ein FCA Independent Examiner 103 High Street Waltham Cross Herts EN8 7AN 24 June 2025 Belz Cheider Slatement of Financial Aclivilies Year ended 31 Augusl 2024 2024 Uniesliicled funds Total funds Total funds 2023 Note Income and endowrnents Donations and legacies Charitable activities 312.521 677.325 312.521 677,325 1,300 Total income 989.846 989,846 1,300 Expenditure Expenditure on charitable activities Total expenditure 946,433 946,433 1,095 946.433 946.433 1,095 Net Income and net movement In lunds 43.413 43.413 205 Reconclllatlon ol funds Total funds brought loNard Total funds carrled forward 205 205 43,618 43,618 205 The slalemenl ol financial activities includes all gains and losses reccgnised in the year. All income and expenditure derive from continuing activities. The note$ on p•ge$ 7 to 11 torni port of th￿ finan¢l•l $tstement$. Belz Cheider Slatement of Financial Position 31 August 2024 2024 2023 Note Current assets Cash al bank and in hand 79.603 1,300 Creditors: amounts falling due within one year Nel current assets 11 35,985 1,095 43.618 205 Total assets less current liabilitles 43.618 205 Net assets 43.618 205 Funds of the charlty Unreslricled funds 43.618 205 Total charlty funds 12 43.618 205 These financial slalemenls were approved by the board of trustees and aulhorised lor issue on 24 June 2025, and are signed on behalf ol the board by.. Mr Pinchos Englander Trustee The note$ on p•ge$ 7 to 11 torni port of th￿ finan¢l•l $tstement$. Belz Cheider Slatement of Cash Flows Year ended 31 Augusl 2024 2024 2023 Cash flows from operating activities Net income 43.413 205 Adjustments lor.. Interest payable and similar charges Accrued expenses 963 960 720 Changes in.. Trade and other creditors 33.930 375 Cash generated from opeiations 79.266 1.300 Interest paid Nel cash from operating aclivilies 19631 78.303 1,300 Not Incroaso In cash and cash equlvalents Cash and cash equlvalents at boglnnlng of year Cash and cash equlvalents at ond ol year 78,303 1,300 1,300 79,603 1,300 The note$ on p•ge$ 7 to 11 torni port of th￿ finan¢l•l $tstement$. Belz Cheider Noles lo the Financial Slatements Year ended 31 Augusl 2024 General information The charity is a public benefit entity and a registered charty in England and Wales and is unincorporated. The address ol the principal office is 36 Leweslon Place. London, N16 6RH. Staternent of compliance These financial slalemenls have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic ol Ireland,, the Sialemenl ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Fleporting Standard applicable in Ihe UK and Flepublic ol Ireland IFRS 1021 (Charities SORP IFFIS 10211 and the Charities Acl 2011. Accountlng poll¢les 8asls of preparotlon The financial slalemenls have been Prepared on the hislorical cost basis, as modified by th8 revaluation of certain financial assets and liabilities and investment properties measured al lair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency ol the entity. Golng Concern There are no material uncertainties a￿ul the charit￿S ability lo continue. Judgements and key sources of esllmatlon uncertalnty Therg are no judgements and eslimales. Fund a¢countlng Unreslricled funds ar& availabl8 lor usè al the discretion of the Irusi8es lo lurth&r any ol th8 charitys purposès. Designated funds ar6 unrestricted funds earmarked by th6 trustees lor particular future project or commilmenl. Reslricled funds are subjected lo reslriclions on their expenditure declared by the donor or through the terms of an appeal, and fall into one ol two sub-classes= reslricled income funds or endowment funds. Belz Cheider Noles lo the Financial Slatements (conti￿) Year ended 31 Augusl 2024 Accounting policies (¢onllnu¢d) Incoming resources All incoming resources are included in the slalemenl of linancial activities when enlillemenl has passed lo the charity- il is probable Ihat the economic benefits associated with the transaction will flow lo the charity and the amount can be reliably measured. The lollowing specific policies are applied lo particular categoiies of income: income from donations or granls is recognised when there is evidence ol enlillement lo the gift, receipt is probable and ils amounl can be measured reliably. legacy income is recognised when receipt is probable and enlitlement is established. incorne Irom donated goods is measured at the fair value ol the goods unless this is impractical lo measure reliably, in which case the value is derived from the cost lo the donor or the eslimaled resale value. Donated facilities and services are recognised in the accounts when received il the value can be reliably rneasured. No amounts are included lor the contribution ol general volunteers. income from contracts lor the supply ol services is recognised with the delivery ol the contracted service. This is classified as unrestricted funds unless there is a ¢onlraclual requirement lor il lo be spent on a particular purpose and returned il unspent, in which case il may be regarded as f8Slricied. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be lully recovered, and is classified under headings ot the statement ol financial activities lo which il relates= expenditure on raising funds includes the costs ol all lundiaising aclivrties, events, non- charitable trading activities. and the sale of donaled goods. expenditure on charitable aclwities includes all costs incurred by a charity in undertaking activities that further ils charitable aims lor the benefit ol ils beneficiaries, including those support costs and ¢osls ielaling lo the governance ol the Charity apportioned lo charitable activities. other expenditure includes all expenditure that is neither related lo raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs allributable lo a single activity are allocated directly lo that activity. Shared costs are apportioned between the activities they contribute lo on a reasonable, justifiable and consistent basis. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the conlraclual provisions ol the inslrumenl. Basic financial instruments are initially recognised al Ihe amount receivable or payable including any relaled transaction costs. Belz Cheider Noles lo the Financial Slatements (conti￿) Year ended 31 Augusl 2024 Accounting policies (¢onllnu¢d) Financial instruments {ConUnu￿j Current assets and current liabilities are subsequently measured al the cash or other consideration expected lo be paid or received and not discounted. Debt instruments are subsequently measured al amortised cost. Where investments in shares are publicly traded or their lair value can olhetwise be measured reliably, the investment is subsequently measured al lair value with changes in fair value recognised in income and expendilure. Al other such inveslments are subsequently measured al cost less impairment. Other financial inslrumenls, including derivatives, are initially recognised al lair value, unless payment lor an asset is deferred beyond normal business terms or financed al a rate of interest that is not a market rate, in which case the asset is measured al the present value ol the futur8 payments discounted al a market rale ol interest lor a similar debt instrument. Other financial instruments are subsequently measured al lair value, wlh any changes recognised in the statement ol financial aclivilies, with the exceptson of hedging instruments in a designated hedging relationship. Financial assets that are measured al cost or amortised cost are reviewed lor objective evidence ol impairment al the end ol each reFW)rting dale. 11 there is objective evidence ol impairment, an impairment loss is recognised under the appropriate heading in the statement ol financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually signilicanl, these are assessed individually lor impairment. Other financial assets are either assessed individually or grouped on the basis ol similar credit risk characteristics. Any reversals ol impairment are recognised immedialely, lo the exlenl that the reversal does not result in a carrying amount ol the financial asset that exceeds what the carrwng amount would have been had the impairment not previously been recognised. Donations and legacies UnTeslricled Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations 312,521 312,521 Charftable actlvltles Unreslricled Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Childcare income 677,325 677,325 1,300 1,300 Belz Cheider Noles lo the Financial Slatements (conti￿) Year ended 31 Augusl 2024 Expenditure on charitable activities by fund type Unreslricled Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Charitable activitses Support costs 932.648 13.785 932.648 13.785 375 720 375 720 946.433 946.433 1.095 1,095 Expendlture on charltsble actlvltles by actlvlty type Activities undertalKen directly Support costs Total funds 2024 Total fund 2023 Charitable activities Governance costs 932,648 932,648 13,785 375 720 13,785 932,648 13,785 946,433 1,095 Independent oxamlnatlon fees 2024 2023 Fees payable to the independent examiner for- Independent examination ol the financial slalements 1,680 Staff costs The lolal stall costs and employee benefits lor the reporting period are analysed as follows.. 2024 2023 Wages and salaries 431,276 375 The average head count of employees during the year was 5012023.. Nil). No employee received employee benelrts of more than £60.000 during the year12023.. Nil). 10. Trustee remuneration and expenses There were no Iruslees, remuneration or other benefits during the year ended 31 August 2024. There were no Iruslees, expenses paid for during the year ended 31 August 2024. Belz Cheider Noles lo the Financial Slatements (conti￿) Year ended 31 Augusl 2024 11. Creditors: arnounts falling due within one year 2024 2023 Accruals and deferred income Social security and other taxes Other creditors 1.680 460 33.845 720 375 35.985 1,095 12. Analysls of charltable funds Unrestrlcted funds Ai 1 Sèptember 2023 At 31 August 20 24 Income Expenditure General funds 205 989,846 {946,4331 43,618 Al 1 September 2022 Al 31 August 20 23 Income Expenditur& General funds 1,300 11,0951 205 13. Analys18 of net a88et8 between funds Unreslrioled Total Funds Funds 2024 Current assets Creditors less than 1 year Net assets 79.603 135.9851 43,618 79,603 135,9851 43,618 Unreslricled Total Funds Funds 2023 Current assets Creditors less than 1 year Net assets 1.300 11.0951 205 1,300 11,0951 205 14. Analysis of changes in not debt At Al 1 Sep 2023 Cash flows 31 Aug 2024 Cash at bank and in hand 1.300 78.303 79,603