Levy2
Annual Report and Financial Staternents
For the financlal year ended 31 March 2025
Charlty Reglstered In England and Wales Number: 1198595

Levy2
Contents
For the financial year ended 31 March 2025
Refer￿￿e and administr*ive inform*h)n
Trustees, report
In(*ndenl exarnine￿ report
Statement of financial activits
Balance sheet
Notes to the accounts
8-13

Levy2
Reference and Administrative Details
For the financial year ended 31 March 2025
Tw$tees
S Nyfiekj {resigned 18 Juty 2024}
J Tobras-Tar$h
ML
C Giat
Prln¢ipal Office
15 Hove Park Road
Hove
BN3 6LA
Charlty N￿rn￿r
1198595
Indopgndont Examlner
Michelle Ferris FCA DChA. Abert G(￿rnan LLP, House. BL4ckbrook Park Avenue. Taunlon.
Scrfnerset, TA1 2PX
8ankors
Virgin m￿ey, Syminglon House. 7-8 North Avenue, Ctydebank. G812NT
Invo$tmgnt Manayrs
Evelyn Partners. 45 Gresham Street. London. EC2V 7BG
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Levy2
Trustees, Report
For the financial year ended 31 March 2025
The Trustees present their annual rekX)rt and financial stat￿ents of Ihe Charity for the year ended 31 March
2025. The financ￿1 statements have been prepared in accordance with the ￿￿ntIng poI￿leS set oui in
note 1 to the accounts and cc¥ryty ￿th the Charty's CIO Constitukn"on. the Charitie5 Act 2011 and the
requirement of the Ac¢ounting and Rwbng by Chariti8s.' Statement of Recommended Prath"ce applicable
to chanties p￿parIng their accounts in xcordance with the Financial Reportww Standard applicable in Ihg
UK arKI Republic of IRland (FRS 102} (effeclNe 1 Januwy 20191.
struclurei govemanco and m•MgemMt
Levy2 is a registered Chwty. 1198595. and 1$ wnstluted under a CIO Constitut￿n document dated
12 April 2022. The Charty was eslablished by an unrestrhxed ￿arrt from the Joseph Levy FOUndat￿n
following an agreement s￿ned on 24 March 2022.
Lewy2 does not actwety fundraise but seeks lo man*)e the rescwrces it has carefulty in order to provide
funds lo make gonts in accordance with its obJ"ecis.
New Trustees are appoinled by exislv¥J Trustges. The CIO c¢￿itUtIOn provhles for a minimum of Iwo
Trustees and no maximum.
The Trustees meet quarterty. princwAally to cons*Jer the m*ing of grants and to re¥￿ iivestment
perfomiance. The relalivety straighrforward nature of the Charity's affairs and the small nurrthr of Trustees
mean5 that no sub-crynmittees are considered ne￿$sary.
All Tfustees are made aware of IheK obliyat*)ns when takiNJ on the aFvMnth￿nl.
Rlsk management
The affairs of the Charity are very straightforvrard and hence the rtsks to which rt 15 exposed are minimal. The
principal risks are in relation to managing the Charit￿$ investments, both as regards maintenance and
grC￿th of capital and rnaxwnising income. To mitigate thi8 risk. the Trustees professional investment
managers to manage the investments in ￿￿rdan￿ Y￿1 slated reqUir￿nts.
Objectives and Actlvltles
The Charity's objects. as set Crtrt Mi ils CIO ConslibAion *e "... such eXck￿￿e￿ charitable purkY)ses as Ihe
charty trustees may in their absolute discretion detemiine "and the Tnjstees intend to 4)ply the income of
the assets under lh￿r corbtrol aTrJ may appty the whijle or any wt or p*ts of the capital of such assets in
furtherance of the oty'e¢ts.
In practTr the Ch*ity intends to fu￿11 its c*4edives by making grants as determined by its Trustees.
In November 2024, with these cty'eclNes very muth in rnind. an irwanl decision was taen by the
Trustees lo dislrilxrte the Charrty's assets over the next 12-18 mcrths. The Trustees expect the process of
winding up tho Charity to be corrpletgj in 2026.
Our vlslon is of a world where all people feel ccffinected. valL￿d and included.
Our mlsslon 1$ lo promote charwe by partnering With owisaib)ns whth offer ￿$¢*jr¢eS 8nd Op￿rtUnItieS
for marginalised communiiEs. We want to Sup￿ pwile who th ncl feel part of a cnmmunily and
cc*mmunf(ies which do not feel part of socw.
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Levy2
Trustees, Report
For the financial year ended 31 March 2025
Investment pollcy
The Trustees have agreed an investment poly with the Charity'$ investment managers which slates that
balance will be achieved btheen caprtal growth and income. puiting an emphasis on providing the best
possible income lo the grantees, wrthout k)sing syht of the need for long lem capital gr￿￿h.
Achlevomerbts and Performanco
Sin¢& the Charitls registrat￿ in April 2022. the Truslees have S￿CesSfUl￿ opened both bank and
investment ￿Counts, held and minuted regular board meelings. created Charity policies. declared
eommilmenl to charitable purposes and hlentffj￿d future plans for the Charity. Grants have begun lo be given
during the year, wf(h the most s￿3n1￿an1 anw)unt being a commitment to Barzilai Medical Centre in Israe5.
Public Benefit
The Trustees have had due regaid to the Charity Conyftission gUIda￿e on public benefit and consider that
the Charty's aims and objectives comply wrth this.
Fundraising
The charity does not undertake furKlraising &tivities aThl therefore does nol WO￿ wih professional
fundra￿erS.
Plans for the fvture
u￿n9 the Charity's vision and miss#)n as a gukJdine. the Trustees intend to develop and implement 8
spend-out strategy wh￿h both alwns with the grant making policy and refiects their prKJr1l￿5. The Trustee$
continue lo act in the best interests of the ChaTrty. arHJ this sKJnrfKant decision has been made in the
knowledge and understsnding thal the Charity's fvnds will contirbue to make a positive drfference in the lives
of others and in the worfd around us.
Reserves pollcy
Al 31 March 2025. total Charity funds hehl were £1,912.561 of which £2,648,OC#J 15 invested and £49,001 is
held in IiquKJ fvnd$. Included wthin creditors 15 grants committed to at the year end, but not paid, of
£780,000. Investments will be 14uidated to pay Ihese commitments as they fall due. The Trustees intend lo
continue lo maintain sufficient investment fijnds lo prO￿￿e an ongoing income lo enable grants lo be made
lo worthy causes. The Trustees also intend lo maintain suffic*nt cash reserves to enable gfanls lo be made
and to give I￿XIbIlItY to make emergency payments to worthy eauses as the need arises. Reserves may vary
from yea1-t￿year dependent on fluctuatKbns bn income and depending on the quality and approprialene5s of
grant applications. Shoukl reserves increase signffi¢antty twstees wll consKler whether ther& are larger
prqecls they consider it appropriate to support or whether they consider it approprk4le lo provide regular
funding lo a cause or causes over a sustsined penc4J.
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Levy2
Trustees, Report
For the financial year ended 31 March 2025
Trustses. rosponslbllltles In rnlatlon to tho flnanclal slalw
The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance
with applicable Law and United ￿"ngdoM Acc(yJntsng S￿￿￿ards i￿luding Financial Reporting Standard 102
The Finanual Rawrting Standard applicable in the UK and Republic of Irgland Iunitad Kingdom Generally
Accepted Accovnling Pwlice).
The faw appliCat￿e lo charities in England & Wales reqUI￿S the trustees lo prepare fi'nancial slalements for
exh financial year whKh give a true and fair view of the state of aff￿.[5 of the charity and of the income and
expendrture of the chanty for that penod. In preparing these financial statemen15, the trustees are required
to..
• select suitable accounting pOl￿*S and then app￿ them consistentty:
observa the methods and princples in the Charities SORP",
makejudgments and a￿untIng estimates thal are reasonabbe and Pr￿n1,.
state whether appl￿ble accounting stsndaTds have been folk)wed. sut4.ect to any material
departures disclosed explained in the financial statements, and
prepare the financ￿1 staterrthts on the concem basis unless rt is inappropnate lo presume
thal tho chanty V*ill continue in t￿sIness.
The Iruslees are responsible mainta￿1ng prcw xcounting records whth disclose with reasonable
accuraey at any time the fnancial positK)n of the charity and enable them to ensure that the financial
statements comply with the Char((ies Act 2011. the Charity {Accoun15 and Reports) Regulations 2008 and
tho pfovisions of the trust deed. They are also respons*Jle for safeguarding the assets of the chanty and
hence fof taking ieasonable steps for the prevent¥Jn arKI detect￿￿ of fraud and other irregularities.
Approved by the Tfuslees on .&S/! o /ao>.£
.. and s*Jned their behaw by:
M Levy
Levy2 Co-chair
C Giat
Lewy2 Co-chair
Pr￿JUCed by Albert Gocrflman LLP
Page 4

Levy2
Independent Examiners Report to the Trustees and Members
For the financial year ended 31 March 2025
Indgpendent examlngrs report to the Trusts•s of Levy2
I report to the trustees on my examination of the accounts for Levy2 ('the chanty'l for th8 year ended 31
March 2025.
Responslbllltles and basls of i¢port
As the charity Iruslees of the charity you are responstsle for the preparatK)n of the accounts in accordance
with the requirements of the chariti.es Ad 20111.the 2011 Acr).
I report in respect of my examination of the chanty's accounts carried out under section 145 of the 2011 Acl
and in earrying out my examination I have folbwed all the appl￿b￿ Dir￿tiOnS given by the Charity
Commission under section 145{5llbl of the 2011 Ad.
Independent examinerfs Statement
I have compteted my examinati)n. l eonfimi that no material matters have to my 8ttention in
connection with the eXaMinat￿n gMrwJ cause lo beI￿ve that in any malerial respect..
acetyJntin9 records were not kept in respect of the ch*ity as required by section 130 of the 2011
Act., ¢y
2. the accounts do not wnpty with these records: or
3. the accounts do nol ccmply vrth the applicab￿ requiren￿lS concerning the form and conlenl of th&
accounts set out in the Charities (Accounts and Reports) Regulat￿nS 2008 olher than any
requirement that the aecounls gwe a-true and fair v*vK wh￿h is not a maller consKJered as part of
an independenl examination.
I have no concerns and have come across no ot￿r matters in connection with the examin*ion to which
attention should be drawn in thts report in order to enable a prrw urthlanding of accounts to be
reached.
Michelle Ferris FCA DC￿1
Albert Goodman LLP
Chartered Accountants
Goodwood House
B￿ckbrOOk Par* Avenue
Taunton
TA12PX
Dale.dg/(o/W.......
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Levy2
Statement of Financial Activrties
For the financial year ended 31 March 2025
Total Fund$
Unrestrlcted
20W25
Totsl Funds
Unrestricted
2023-24
Income and •ndo%wients from:
Investments
89,359
74.445
Totsl
89.359
74,445
Expendlture on:
Raising lunds
Chari18ble activit￿5
19.186
1.565.105
16,264
4,260
Total
1.$84.291
20,524
Net income l {expgndlture} befoye other
TeGogDised gains
{1,494,9321
53.921
Realised and unrealised gaNIs
on investment assets
26.109
290,042
Nèt incom• I (eX￿nditUre1 & net movement
in funds for tho year
11,468,823)
343,963
Reconciliation of funds
Totsl fvrtds brougm for￿Id
3.381.384
3.037,421
Totsl funds Carri￿ forward
1.912.561
3,381,384
The stslement of financial actsvibes has been prepared on the basis that aff operat*Jns are continuing operati(M)s.
There were gains or b5ses ari%r4J in ts year that are nLM sh(y*n atrfwe.
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Levy2
Balance Sheet
As at 31 March 2025
2025
2024
Fixed assets
Investments
2.648.000
3,255,387
Current assets
Cash al barsk and li hand
49.001
130.257
Liabilities
Credit¢)r5 falling due
wlhin one year
(784.440)
(4,260)
Net current assets
{735,439)
125.997
Not a8$ets
1,912,561
3,381,384
The lund8 of the charity
Expendable endowment
fvnd
1,912,561
3.381.384
Total Charlty fund8
1.912,561
3.381,384
The notes on pages 8 10 13 fom part of these account$.
Approved by the Trustees on 3.8110 {* 35
. and s•3ned on their bohalf by:
MLe
Co-chair
C Gkqt
Co-cha
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Levy2
Notes to the Financial Statements
For the financial year ended 31 March 2025
Accountlng Polkles
Basls of a¢coundng
The finaneial statements have been prepared in £ sterfing on hk8torical cost basis and in
accordan￿ with Accounting and Rewling by Chanbes.. Statement of Recommended Practice
applicab￿ to Charities preparing their accAwnts in accordance with the Financial Reporting
Standard appI￿able in the UK and Repubk of IrelaThJ IFRS 1021 leffedbve 1 January 2019) -
(Charities SORP IFRS 102)).
The charty meets the definition of a publ￿ benefft entity UfKler FRS 102. Assets and liknilities are
initially recognise(l at hislorical cost or transaction value unless othepHi$e slated in the relevant
¢(￿nting polKy.
Funds structure
The Ch¥ity has a single expendable end(pArynent fund. ueated by a grant from the Joseph Levy
Fcmjndation. The income of this Trust is restrided to furtherance of the Charity's (*'ectNes. The
term5 ￿10￿ the capital of the fund to be spenl rf the Trustees so detemine.
Income
All Incon￿ is recognised once the Charity has enlrtlement to the resources, st is certain that Ihe
resources will be ￿Ned and the n￿netary value of inconwng resources can be measured wilh
Suff￿"ent reliability.
Expondlture
Liabihties are recognised a5 ￿$OUrceS expended as s[￿￿ as the￿ is a legal or conslruclive
obligation commrtting the Charity lo the expendrture. All expendiiure is &counled for on an
tLcruds basis and has t￿eft dassrf*d undw headings that aggregate *1 costs related to the
category.
Grants payable a￿ paymenls made to Ihird parbes in fvrthera￿e of the charitable otyects of the
Tru51. Grants are accounted for when either Ihe reopienl has a ￿aSonab￿ expectalK)n that tl
will receiv8 a grant and the Trustees have agreed to pay the grant wrthout condrtitsn, or the
recipient has a reasonabbe e•h)rb that they will receNe a grant and any condrtion allaching to
Ihe grant is outside of ts contrd of the Trust.
Provis￿nS grants are made when the intentK)n to m&%e a grant has been Commun￿ated to the
recipient but there is uneerta.nty about eiiher the twniThJ of the grant or the amount of the grant
payable.
Govemance costs
Governance costs comprise all costs invofving the public aeeountabli ty of the Charity and its
compliance wth regulation and good Wact￿. These costs indude c05tS Telaled to slalutory audrt
and kgal fees.
Flxed asset Investments
Investments arn recognised initialty at far value wh￿h is nomHIty the Iransaction Pri￿ (but
exclLpaes any transaction costs). Subsequenlty. inveslmenls are at market value. wilh all
realised and unrealised gains aTrJ k)sses pasS￿g through the SOFA.
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Levy2
Notes to the Financial Statements
For the financial year ended 31 March 2025
Realiged galns and losse$
All gwns and b)sses are taken to the Statement of Financial ActNit*s as they anse. Realised gains
and losses on inveslmenls are calculated as the drflerence between sales proceeds and opening
market value lor purchase dale rf later}. Unrealised gains and losses are calculated as the
difference between the market value at the year end and opening market value lor purchase date rf
tater). Realwd and unre81ised gains are not separated in Ihe Statement of Fina￿la1 ActNilies.
Cash at bank and in hand
Cash at bank and In harKI ccrfnprise of eash on hand and call deposits. and other short-lerm h￿hlY
l¢quid investsnenls that are re*Sity convert￿￿ to a krH7wn amount of cash and are subject lo an
insignificant risk of thange in value.
Creditors
Ciedrtors and provisiorts are recogni£ed where the charity ha5 a P￿sent obl*Jali¢)n resuking from a
past event that will probabty result in the transfer of fvrKls lo a third paty and the amount due to
settle the obligalion Can be measured or estimated relkabty. Creditors and provLsions are
recognised al their settlement amount.
1.10 Taxatlon
As 8 registered charity. the charity is not 1k1b￿ to Corp￿￿10ft tax to the extent that income and
gains a￿ applied lo charitable objectNes.
1.11
Flnanclal Instruments
The charity only hokls basic financial instruments as defined in FRS 102. The financial assets and
liabilrties of the charity ar￿ their measUre￿nts are as follthvs_'
Financial assets- trade and other debtor5 are basic financial instruments and are debt instruments
measured al amortised cosl as detaikd in note 9. Investment pgrtfolios are basic financial
in$tiumenls measured at fay value thmugh the wicome and expenditure account. Prepayments are
not financral instruments.
Cash al bank and deposit accounts- is cla5sffied as a basic financral instrument and is measured
at face value.
Finanual Ikgbilities- trade credrtors. accruals and other ereditots are financial inslrumenls, and are
measured at am¢)rtised cost as detai￿ in nole 9. OefeTred income is not deemed to bè a financial
liability. as the cash selllemenl has already taken pla￿ and the￿ is an obl￿allOn lo deliver
serv￿$ rather than cash or an¢Xher financial instrument.
Pfoduced by Albert Goodman LLP
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Levy2
Notes to the Financial Statements
For the financial year ended 31 March 2025
Income from Investments
Unrestricted
202*25
Unrestricted
2023-24
Diwdends receiv&J
Interest on fLxed ￿terest se¢uiit*s
Int¢re$l M cash deposts
59,824
2,492
12,129
49.195
1.618
89.359
74,445
Expendlture on ralslng fiKKIs
Unrestricted
20￿25
Unrestricted
2023-24
Investment management fees
19,186
16,264
19.186
16,264
Analysis of charitable expendltsre
Unrestricted
202425
ilnrestricted
2023-24
Grants given..
Barzilai Medical Centre
Posseable
PAP Foundation
Anne Frank Tntst
VYD Brighton
1.500.567
20,000
15,C(SQ
15.000
10.IKIO
1.560.567
Bank char9es
<>)VeMan￿ cost$.'
Independent ethmIn￿$ fee
A￿oU￿￿￿Y fee
1.500
2.940
1.440
2.820
1,565,105
4,260
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Levy2
Notes to the Financial Statements
For the financial year ended 31 March 2025
Fixed asset inv•stm•nts
2025
2024
Movements in fixed assets investments:
Market value as at 1 April 2024
Additions at cost
Disposals at earrying wdlue
Realised gain￿ (losses) on di$F*)sal$
Unrealised gain on rerdluation
3.255,387
4.004,019
(4.637.515)
118.977}
45,086
2.984,391
1.014,809
(1.033.855)
64.013
226,029
Market value as al 31 March 2025
2,648.000
3,255,387
Historical cost as at 31 March 2025
2.325.371
2.958.867
2025
2024
Investments at market value compr(xni¥ed:
Equities
Fixed interest se¢uribe$
2.648.000
3,196,328
349.102
Total
2,648.000
3.545.430
AJI investments are held to provide a retum for the charity
Analys1# of cmnt Ilabllities
2025
2024
Accruals
Accrued grants payable
4.440
780.000
4.260
Tt>tal
784.440
4,260
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Notes to the Financial Statements
For the financial year ended 31 March 2025
Anatysls of charftable fvnds
Fund
Fund
Cmwd
31.03.26
Investm•nt
gains
01.04.24
Income Exp•ndltur•
trict d funds:
Expendab￿ endtr•mient
3.381.384
89.359
(1,584.2911
26,109
1.912,561
Total
3.381,384
89.359
{1.$84.2911
26,109
1.912.561
Prlor year funits:
Fund
Fund
Cmwd
31.03.24
Inv8stm•nt
losses
01.04.23
Income Expenditure
Unrestricted funds."
Expendable endowment
3,037.421
74.445
(20.524)
290,042
3.381,384
Total
3,037.421
74,445
(20,5241
290.042
3,381,384
Trustees and employees
The charity has no ￿plOyees. and hen￿ nc¥)e thal receive remuneration of over £60.000 (2024..
none).
None of the Trustees (or persons wrth them) received Wby remuneration during the
Current year (2024." £niD.
There have been transacth)ns with any related parties in Ihe year ended 31 Marth 202S
{2024.. £Nill
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Levy2
Notes to the Financial Statements
For the financial yeai ended 31 March 2025
Financial instruments
2025
2024
Financial assets measured at fair value through income and
expenditure account
Financral assets that are debt instruments measured at
amortised cosl
2,648.000
3,255,387
49.001
130.257
2.697,001
3.385.644
Financ￿1 liabilrties measured at amortised cosl
784,440
4,260
ltsm of income. •xpendllure* gain or losus
Incom•
Expense
Net galns
Net losses
2025
Financkgj a$￿S measured * fair ¥a￿e
through income and expendrture account
Financ￿1 assets that are debt instruments
measured at amortised cost
Financial liabilrties measured at amOr￿Se￿ cost
89.359
19,186
26.109
89.359
19.186
26,109
Inc¢)me
Expen
Net galns
Net losses
2024
Financial assets measured at fair value
through income and expenditure aecounl
Financial assets that are debt instrunents
measured at amortised cost
Financial liabilities measured al ￿nOr￿"Sed cost
74,445
16.264
290.042
74,445
16,264
290.042
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