CHARITY REGISTRATION NUMBER: 1200265 THE SIMMONDS FOUNDATION Unaudited Financial Statements 5 September 2025 G A HARRIS & CO LIMITED Chartered accountants Brulimar House Jubilee Road Middleton Manchester England M24 2LX THE SIMMONDS FOUNDATION Financial Statements Year ended 5 September 2025 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements THE SIMMONDS FOUNDATION Trustees, Annual Report Year ended 5 September 2025 The trustees present their report and the unaudited financial statements ofthe charity for the year ended 5 September 2025. Reference and admlnlstratlve detalls Registered charity name THE SIMMONDS FOUNDATION Charlty reglstratlon number 1200265 Principal office 4 TURNER STREET SALFORD M7 4PD United Kingdom The trustees Michael Simmonds Raphael Guttman Yitzchok Tzvi Siemiatycki Independent examiner Gary Harris Brulimar House JLJbilee Road Middleton Manchester England M24 2LX THE SIMMONDS FOUNDATION Trustees, Annual Report (contlnued) Year ended 5 September 2025 Structure, governance and management The Simmonds Foundation is constituted by Memorandum and Articles of Association. It was registered as a charity on 5 September 2022 with a charity number 1200265. Recruitment and appointment of new trustees would be in line with the Memorandum and Articles of Association and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive lo the needs and demands of the organisalion. There is no chief executive officer. The day-lo-day affairs are undertaken by Mr M Simmonds on behalf of the Iruslees. All major decisions are taken collectively by the trustees and all the trustees give of their time freely. The trustees are unpaid and details of any related paty transactions are disclosed as applicable in the notes lo the accounts. The arrangements for setting the pay of the charity's employees are the sole domain of the trustees. There are no policies for the induction or training of new trustees. Risk review The Trustees have assessed the major risks lo which the charity Is exposed, in particular those related to the operations and finanTrs of the Trust, and are satisfied that systems are in place to manage our exposure to the major risks. The risks faced by the trust are principalty operational risks from ineffective grant making. These risks are managed by the trustees researching potential beneficiaries before granting donations. Report back and review procedures strengthen these safeguards lo ensure public benefit is achieved from all grants. THE SIMMONDS FOUNDATION Trustees, Annual Report (contlnued) Year ended 5 September 2025 Objectives and activities The objects of the charity are." 111 For the public benefit to promote the education of people of all ages around the wodd in such ways as the charity Iruslees think fit, including awarding to such persons scholarships, maintenance allowances or grants, or by grants lo charities or other organisalions worldwide that provide education, 121 The prevention or relief of povety or financial hardship anywhere in the world by providing". grants or loans to individuals in need andlor charities, or other organisations working to prevent or relieve povety or financial hardship,'131 To advan￿ the Orthodox Jewish religion worldwide for the benefit of the public in accordance with the principles of the Code of Jewish Law (Shulchan Aruchl. Public benefit The Iruslees confirm that they have referred lo the guidan￿ contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year. Grant making policy The charity is funded by donations and investment income. The charity gives out grants in line with the above objects. There were no grants paid lo individuals during the year. Grants made during the year to institutions are as detsiled in the accounts. The application of the funds by way of grants to either institutions or individuals and is almost a￿ayS to inslitulions. The trustees consider they have met the public benefit lesl and outline these achievements below. The Iruslees measure the success of achieving the staled aims by the number and value of grants paid out for each object. The grants paid out in the year are detailed in the notes to the accounts and the trustees consider they have met their aims successfully this year. The Iruslees consider the shorter term aims to be similar to the longer term aims and assess the achievement of the charity in the same way. THE SIMMONDS FOUNDATION Trustees, Annual Report (contlnued) Year ended 5 September 2025 Achievements and performance The charity received £53,694 12024 £121,419) in donations and grants during the year. The charity paid out £54,91212024 £27,186) by way of grants and support costs. These grants were made in line with the staled objects of the charity and relate to religious purposes, educational purposes as well as relief of poverty purposes. The charity also received £15,13012024 £5,500) in investment income during the year. The charity incurred governance costs comprising professional fees. All other office costs are borne by a local benefactor and the trustees wish to record their appreciation to the benefactor for the free use of their offices. There were no material fundraising costs during the year. Related party transactions are disclosed as applicable in the notes to the accounts. There was an overall net income and net movement in funds for the year amounting to £13,912. Financial revigw Investment performance The investments of the charity have provided a satisfactory return, taking into account the income and capital growth. This is acceptable when compared to returns from bank deposits for which returns are far lower. Reserves policy The Unrestricted Fund represents the unreslricled funds arising from past operating results. The Trustees are satisfied that the balance of the Fund is an acceptable level of reserves given the nature of revenue receipts against grants payable. In considering the limited financial obligations of the charity, the trustees have resolved lo maintain a minimum reserve roughly equal to six months operational costs. The Iruslees have considered the fair value of the investment property taking into account the loan lo value of the properties as well as the nature and exposure of the syndicate properties. The trustees consider the holding value lo be the fair value. The Iruslees are delighted to have made many valuable contributions lo the community as a result of this income and hope to be able to do so for many years to come. THE SIMMONDS FOUNDATION Trustees, Annual Report (contlnued) Year ended 5 September 2025 The trustees, annual report was approved on 1 July 2026 and signed on behalf of the board of trustees Michael Simmonds Trustee THE SIMMONDS FOUNDATION Independent Examiner's Report to the Trustees of THE SIMMONDS FOUNDATION Year ended 5 September 2025 I report to the trustees on my examination of the financial statements of THE SIMMONDS FOUNDATION I'lhe charily'l for the year ended 5 September 2025. Responslbllltles and basls of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordan￿ with the requirements of the Charities Act 2011 I'lhe Act'l. I report in respect of my examination of the charity's financial slalements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material mallers have come lo my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act., or the financial statements do not accord with those records,. or the financial statements do not comply with the applicable requirements concerning the fomi and content of awounts set out in the Charities IAc¢ounls and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not 8 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 d￿wn in this report in order to enable a proper understanding of the accounts to be reached. Gary Harris Independent Examiner Brulimar House Jubilee Road Middleton Manchester England M24 2LX 1st July 2026 **----- Start of picture text -----**
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THE SIMMONDS FOUNDATION Notes to the Financial Statements Year ended 5 September 2025 General information The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 4 TURNER STREET, SALFORD, M7 4PD, United Kingdom. Statement of Compllance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Charities Act 2011. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured al fair value through income or expenditure. The financial stslements are prepared in sterling, which is the functional currency of the entity. Going eoneern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The Iruslees consider that no significant judgements or material estimates were required in the preparation of these financial statements. Fund accounting Unreslricled funds are available for use at the discretion of the Iruslees to further any of the charity's purposes. Designated funds are unreslricled funds earmarked by the trustees for particular future project or commitment. Reslricled funds are subjected lo restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes.. reslricled income funds or endowment funds. THE SIMMONDS FOUNDATION Notes to the Financial Statements (conllnued) Year ended 5 September 2025 Accounting policies (conllnuedj Incomlng resourees All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., il is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entillement to the gift, receipt is probable and its amount can be measured relisbly. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical lo measure reliably, in which case the value is derived from the cost lo the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when reTrived if the value can be reliably measured. No amounts are Included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for il lo be spent on a particular purpose and returned if unspent, in which case il may be regarded as reslricled. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities lo which it relates.. expenditure on raising funds includes the costs of all fundraising aclivilies, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further ils charitable aims for the benefit of its beneficiaries, including those support costs and costs relating lo the governance of the charity apportioned to 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 attributable to a single activity are allocated directly to that aclivily. Shared costs are apportioned be￿een the activities they contribute lo on a reasonable, justifiable and consistent basis. Investments Unlisted equity investments are initially recorded at cost, and subsequently measured al fair value. If fair value cannot be reliably measured, assets are measured at cost less Impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. 10 THE SIMMONDS FOUNDATION Notes to the Financial Statements (conllnued) Year ended 5 September 2025 Accounting policies (conllnuedj Investments In assoclates Investments in associates accounted for in accordance with the cost model are recorded al cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction pri￿. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where il is impracticable lo measure fair value reliably the cost model will be adopted. Dividends and other distributions re￿iVed trom the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition. Investments in joint ventures Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments In jointly controlled entities accounted for in accordance with the fair value model are initially recorded al the transaction price. At each reporting dale. the investments are measLJred at fairvalue, with changes in fair value taken through income or expenditure. Where it is impracticable lo measure fair value reliably the cost model will be adopted. Dividends and other distributions re￿IVed from the investment are recognised as income without regard to whether the distributions a￿ from accumulated profits of the joint venture arising before or after the date of acquisition. Impaiment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting dale. For the purposes of impairment testing, when il is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generaling unit lo which the asset belongs. The cash-generaling unil is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment lesling of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected lo benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned lo those units. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. 11 ============================ ============================ ================================ ================================ ============================ ============================ ======================= ======================= **----- Start of picture text -----**
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