Charlty rogl8tratlon number 1201175 (England #nd Wal) Company registration number 13121519 PHGS FOUNDATION LTD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
PHGS FOUNDATION LTD LEGAL AND ADMINISTRATIVE INFORMATION Tru$legS Rabbi Y Halpem Charity number (England and Walès) 1201175 Company number 13121519 R&gist•r•d offie Pardes House Grammar Schooj Hendon Lan$ London N3 1SA Auditor Goldwins Limited 75 Maygrove Road West Hampstead London NW6 2EG Bankors Barclays Bank PIC 126 Station Road Edgware Middlesex HA8 7RY Solicitors 8ude Nathan Iwanier Temple Fortune Parade Bridge Lane London NW11 QQN
PHGS FOUNDATION LTD CONTENTS Page Trustees, report Independent audllorfs report Statement of financial activities Ba18nce sheet Notes to thè finanaal stslements 9-17
PHGS FOUNDATION LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORD FOR THE YEAR ENDED 31 AUGUST 2024 The tru51ees prgsent their annu81 port and financial statements for the year gndtrd 31 August 2024. The finanaal staiements have been prepared in aceordance with Ihg accounbng poliries sgt out in note 1 to the financial siatements and ¢omply with the ¢h8ri1y's governing document, the Companies Act 2006. FRS 102 "The Financial Reporting Stand8rd appli¢able in the UK and Republic of Ire18nd' and the Charities SORP 'Accounting and Reporting by Charities.. Slatetnenl ol Recommended Pra¢tice applicable lo charities preparing their accounts in accordancè wllh Ihe Financial Reporbng Stsndard applicable in the UK and Republic ol Ireland IFRS 102}" Objoctives and actlvities The charity was estsblished to advance the Orthodox Jewish religion and advance eduealion by the provision of a day school for boys known as Pardes House Grammar School and by ancillary or incidentsl edueatbnal or religlous 8¢tkvilie3 and other associated actlvltles for the benefit of thè community. Publlc benefit The trustees have paid du& regard to guid8n¢e issued by the Charity Commission in do¢iding what activities the ¢h8rlty should undertake. Achlevemonts an(1 performance Significbnt activities and aGhievem6nts against objeGIiv&$ The trustees consider that the perforrnance of the Charity this year has been most satisfactory. Funds have been granted to Institutions during the year from the conlribulons received from donors. Flnancial r•vi•w The Stslgment of Financial activities shows a surplus for the y&ar of £376,231 12023.. £49,973) after making grants of£60,381 {2023: £119.98DI and the reserves stand at £426,28912023'. £50,058). Rèserves pollcy It is thè policy of the charity that UnstrICted funds which have not been designated for a specific use should be maintained ot a level equivalent lo between three and six month's expenditure. The trustees consider that SerVeS at this level will ensure that, in the event of 8 significant drop in lunding. they will be able to continue the charity's rrent activities whilg consideration is given lo ways in which additional funds may be raised. This level of resgrves h8s been maintained throughout the year. Structure. gov•manc• and managom•nt The Charity is controlled by ils goveming document, the memorandum and articles of association, and conslitules a company limited by guarantee as defin¢d by the Companies Act 2006. The trustee5. who are also the directors for th8 purpose of company law, and who seNéd during the year and up to the date of Snature of the financAal statements wèrè.. Rabbi Y Halpern M Lisser M Nordgn (Resignèd 1 S8Ptember 20231 (Rgsigned 1 September 20231 Recrultment and appolntment of new tru$te¢s If necassary, new trustees arè recruited from the personal contacts of thè èxisling Iruslees. Organlsational structure The trustees rn8n8g6 the day to day running of the charity and make all decisions. Stat•m•nt of tru8tg95' resPOrt$lbilitS•s The trustees, who are also the directors of PHGS FOUNDATION LTD for the purposè of company law, arè responsible for preparing the Trustees. Report and th& financial slalemenls in accordan¢e wth applicable law and Uniltrd Kingdom Accounting Standards (United Kingdom Genfjrally Accepted Accounting Praclicel.
PHGS FOUNDATION LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Audltor In 8¢wrdance with the company's articles, a r&solution proposing that Goldwins Limited be reappointed as auditor of the company will be put al a General Meeting. The truste8s' report Was approved by Ihe Board of Trusiees. Rabbi Y Halpem Tru$te• Dale: ....
PHGS FOUNDATION LTD INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF PHGS FOUNDATION LTD Oplnlon We have audited the financial stsltsmtsnls of PHGS FOUNDATION LTD Ithe 'charity'l for the year ended 31 August 2024 which comprise the slalement of financial 8clivitie$, th8 balan¢e $h&èL th& statèment of cash flows and notes to the financial statements, including signrficanl accounting poli¢itss. The financial reporting framework that has been applied In their preparation is applicable law and United Kingdom Accounting Standards, in¢luding Financial Reporting Standard 102 Th& Financial Reporting Standa4 applicable in the UK and Republic of Irgl&nd Iuniteij Kingdom Generally Accepted Accounting Pra¢ti¢el. In our opinion. the financial statements.. ge a true and fair view of the stale of the charitable company's affair8 a8 al 31 August 2024 and of Its Incomlng resources and appllcation of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Gongrally Accèptèd Accountlng Practice- and have been prepared in accordance With the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with Inlemalional Stsndards on Auditing IUKI IISAS IUKII and applicable law. Our responslbilitles under those siandards are further described in the Auditors responsibilitiès for the audit of thè fin8nclèl statements sectlon of our report. We are independent ol the charity in accordance with the ethlcal requirernen15 that are relgvanl to our audit of the linancial statetnent5 in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethic81 responsibiliti8s in aGoordance with these requlrements. We believe that the audit evidence we have obtained is sufficient and appropriate to priwide a basis for our opinion. Conclusions relatlng to golng ¢on¢$m In auditing tha financial statements, we have concluded that the trustees. use of (he going ¢oncefn basis of accounting in the preparation ol the finanual statem¢nts is appropriate. Based on the work we have perfomied. we have not identffi8d 8ny m8leri81 un¢ert81nlles relating to events or onditions that, individually or collectively, may cast significant doubl on the charitys ability to continLJ8 as a going oncern for 8 period of al19asI twolvg months from whon the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with rospacl to goiThJ concem are described in the relevanl sections ol this report. Othèr Informatlon The other infomiation comprises the inforrnalion included in Ihg annual report othei than the financial statements and our auditoi's report thereon. The twstees are responsible for the other infomiation ntsned within the annual report. Our oplnSon on the financial statements does nol cover the other information and we do not express any lomi of assurance GonGlusion thereon. Our re$ponsibility is to read the other information and, in doing so, consider whether the other infomiation is materially incon8islent with th8 financial statèments or our knowledge obtained in Ihe course of the audit, or otheiSe appears to be materially misstated. If we identify su¢h material inconsistencies or apparent material mi3statemgnts, we are required lo delemiine whether this gives rise to a mat9rial misstatèment in the financial ststeTnents thgmselves. If, based on the work we have perfomied, we conclud8 that therg Is a material misstatement of this other information, wg ars rÈqulrÉd to r8POrt that fact. We have nothing to report in this regard. atters on whl¢h we are requlr•d to rèport by •xc•ptlon We have nothing to report In respect of the following matters in relation to which the Charit18s IAccounts and Reports) Rogulab"gn$ 2008 requires us to report to you rf. in our Opinn.. the InformaOn gen In the financial statements Is Inconsislenl in any material rèspaet wlth ihe trustees, report,. or suffi¢i$nt accounfjng records have not boen kept., or the financial statements are not in agreement with the accounting records,. or we have not received all the infomation and explanations we require for our audit.
PHGS FOUNDATION LTD INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF PHGS FOUNDATION LTD R¥sponslbiliti98 of trustoos As explained more fully in the statement of trustees. responsibilrfcles, the Iruslees, who are also the directors of the charity lor the purpose ol company law, 8ro responsible for the preparation of the financial statements and for being satisfied that they give a tru& and fair view. and for such intemal conlr(>l as the trustees determine is necessary to n8ble the preparation ol financial statements that are free from ma18ri81 mlsstatemenl, whether due to fraud or eThor. In preparing the financial stal¢ments, th8 Iruslaes are responsible for assessing the d)arity's ability lo continue 8$ 8 going concem, disclosing, as applicable, mattars relaied to going con¢ern and using the going concern basi5 01 a¢coLJnting unless the trusleos either intend lo liquidata tho charitable company or lo ceas& operations, or have no rgalistie altamative bul to do so. Auditorfs rèsponslbllltios for tho •udlt of the financial stat•m•nts We have been appolnted as audKor under section 144 of the Charlties Act 2011 and report in awjrdance with the Ad and relevant regulations rnade or having effect Ihereunder. Cmjr objectives aré to obtain reasonable a55uranee about whether the flnancial statements ag a whole are fre8 from material misstaternenl, whether due to fraud or Èrrtsr, and to issue an auditor's report that Includes our opinion. Reasonable assurance is a hlgh level of assurance but is not a guarante8 that an audit conducted in accordance with ISAS IUKI will always detect 8 matèrial misstatement wh8n it exists. Misstalern&nts can arise from fraud or error and ara considered material rf, individually or in the aggregate, thèy Could reasonably be expected 1¢) inflLJence the economic decisions of users taken on th8 basis of these financial statements. Irregularities arè instances of rK)n-compliance wth laws and r9gulations. The objectivas of our audit arg lo obtain sufficient appropriat8 8udit evidence regarding compliance wilh18ws and regulations that havé a direct effect on the determination of m8leri81 amounts and disclosures in thè financial slalements, to pertomi audit prdureS lo help id8ntify instances of non-compliance with olher law5 and règulations that May have a material effect on the financi81 stst8mènts, and to respond appropriately to identrfied or suspected non-compliancè wrth law5 and regulations identified during the audit. The extent lo which our procedures are capable of dètecting irregularth&s, Including fraud. is detailed below. In Identifying and assessing rfsks of material mis51atemenl In respect of irregularftles. including fraud and non- compllan¢e wlth laws and regulations. our procedure5 included the following= We enquired of managèmènt, which induded obtaining and reviawin9 supporting dwumentation, concerning Ihe charity's policias and procedures rel8ts.ng to tha internal controls èstablished to mib.gata risks related to fraud or non-cornpli8nce with18ws and regulations. We reviewed thtr financAal statement disdosures and le51ed Ih8S9 to supporting docum8ntation to assess compliance with applicable laws and regulations. In addSan9 the risk ol fraud through management overrid8 of controls. we tested the appropriatènèss of journal éntriès and other adjustments, assessed whether th8 judgements made in making accounlin9 estimates aré indicative of a polents'al bias and tested significant transactions that are unusual or those outside the normal ¢ourse of business. Because of the inherent lirnilalions tsf an audit, there is a risk that we will not detÈct all irregularities, including those le8ding to a material misstatement in the financial slatemonts or non-compli8n¢% with regulalion. Thé risk is also greater regarding irregularities occurring due to fraud rathèr than error, a3 fraud involves intention81 concealment, forgery. ctsllusion, omission or misrepresentation. A further description ol our responsibilities is availab19 on tha Financial Reporting Council's web8lt& at.. https'.11 www.frc.org.uklauaitorsresponsibililies. This description fomis part of our audilorfs report.
PHGS FOUNDATION LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF PHGS FOUNDATION LTD Us• of our r•port This report is made solely to thè charity's trustees, as a body, in accordance with Part 4 of the Charilies (Accounts and Reports) Regulations 2008. Our audil work has bgen undertaken so that we might stale to the charty's trustees those matters we are required lo state lo them in an auditor's repcirt and for no other purpose. To the fvllest axlent permitted by law. we not a¢pt or assume responsibility lo anyone other than the charty and the ch8rills trustees as a body. for our ¥udit wotk, for this rèport, or lor the opinions we have fom8d. ony Epton Isen r Ststu ry Audltor} FOT and on behalf o oldwins Llmlted, Stslulory Audltor Chartered A¢countants 75 Maygrove Road Wesl H8mpslead London NW6 2EG Dale: .......................
PHGS FOUNDATION LTD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unr•strlcted funds 2024 Unr•strlcted fvnds 2023 Notes Incomè from: Donations and legaci88 Charitable acb'vities Investments 1.263,727 429,729 10 168,909 41,055 Total In¢omo 1.693.466 209,964 Expendlturn on: Raising funds Charitable activities 39.661 1,277.574 159,991 Total oxponditur• 1.317.235 159.991 Net Income and movem•nt In funds 376,231 49,973 Reconciliatlon of funds: Fund balances at 1 Seplernber 2023 50.058 85 Fund balances at 31 August 2024 426,289 5Q,058 The statement of fflnanclal activth'es Indudes 811 g8lns and losses recognised in the year. Al income and expenditu dorive from continulng activities. The notes on pages 9 to 17 form part ofthese financAal statements.
PHGS FOUNDATION LTD BALANCE SHEET ASAf31AUGUST2024 2024 2023 Note$ Flxed assets Goodwill Tangible 8550ts 14 15 17,550 554,252 44,268 Curront assets C8sh at bank and in hand 21.007 5,790 Creditors.. amounts falling du8 Wlthln on• year 16 1166,5201 N•t ¢urront115abS1Stl•sllas5ets 1145,S131 5,790 Total assets less current li#bllltlos 426.289 50,058 The funds of th• charlty Unraslrictsd lunds 18 426,289 50,058 426,289 50,058 The notes on pages 9 to 17 fom part of these flnandal statements. The directors acknowledge their rgsponsibilitios for complying with the requirement$ of the Companies Act 2006 with respect lo a¢Unting ro¢ords and the preparation offinancial stslemènts. The financi81 statements were approved by the truste88 Oll . Rabbi Y Halp8m Trustee Company registration number 13121519 (England and Wales)
PHGS FOUNDATION LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Nots$ Cash flows from operating activiti•s Cash generated frorn op8rations 683,254 61.040 Invostlng ¥etiviti•s Pur¢hase of intangible as5els Purchase of tangible fixed 8ss8ts Investment irwme recgived 119,5001 1648,5471 155,3351 Not eash u$8d In Investlng actlvltles 1668,0371 155,3351 Net cash gert•r¥t from Ilnanelng activities Net Increase In cash and cash 89uivalÈnts 15,217 5,705 Cash and G4sh aquSvalonts at beginnlng of y8ar 5,790 85 Cash and cash equlvalents at •nd of year 21,007 5,7 The notes on pages 9 to 17 fom part of these financial statements.
PHGS FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 A¢¢ountlng pollcl•s Charlty Informatlon PHGS FOUNOATION LTD is a priv*e ctsmpany limited by guarantee incorporated in England and Wales. The istered office is Pardes House Grammar S¢hool. Handon Lane, London, N3 1SA. 1.1 Accounting convention The financial statements havè b88n prepared in accordance with the ch8rity's govemlng document, th• Companies Act 2006, FRS 102 "Thè Financial Reporting Standard appliGablg in thè UK and Republic of Ireland. and Ihtr Charitias SORP 'A¢counting and Reporting by Charities., Ststem&nt of Recommended Praclice applicable lo charities preparing their accounts in accordance with the Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" The charity is a Publ Benèfit Entlty as dellned by FRS 102. The ffnancial siatements are Prepared in sterling, which is the fvnclional currency of the charity. Monetary amounts in these financial stalements are rounded lo the ne8r851 £. The financial slalements have beèn pr8parÈd under the historical cost convention, modified to indude certain financial instruments al fair valuel. The princip818ccountin9 policies adopted are sel ¢xrt be50w. 1.2 Golng concérn At the time of approving the financial 8tst&m&nt8, the trustoas have a reasonable exp8Ctalion that the charity has adequale resources to continue in operational existence for tho forèseeable future. Thus the trusteos Continue lo adopt the going ¢oncem basis of accounting in preparing the financial statements. 1.3 Ch•rit8ble funds Unrestricted funds are available for use at the discretion of the trustees in fijrtherance of their ¢h8rilable objg¢tives. Restricted funds are sublect to specific condition5 by donors or grantors as to how they may be used. Th6 purtK)sgs and usès ol tha rastricted funds are sel out in the notes to th8 financial statements. Endowmant funds are subject to specific conditions by donors th81 the cap1tal must be rnaintainéd by the charity. 1.4 Incom• Income is recognised when the charity i818gally entitled to it after any perfomiance conditions have been mel, the amounts can be measured reliably, and il is probable that income will be received. Cash donations are regnised on receipt. Other donations arg re¢ognis&d once the charity has been notified of thè donation, unless performance conditions require defgrral of the amount. Income tax recoverablo In rolalion lo donation5 recelved under Glft Aid or deeds of covenant is r8cognlsed at the time of the donation. Lègacles are recognised on receipt or otherwise if the ¢harlty has been notified of an impendlng distrfbulon. th8 amoLJnt Is known, and reIpt is expected. If the amount Ss not known. the legacy is treated as 8 confjngenl asset.
PHGS FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 ArKountlng pollel•s IContlnu•dl 1.5 Expenditure Expenditure is recognised once Ih¢re is a legal or ¢onstructive obligation to transfer economic btrnefil to a third party, it is probable that a transfer of economic benefits wlll be r¢quirod in settlement. and th8 amount of the obllgation can be measured reliably. Expenditure is classifieLI by activty. The costs of each adivity aro made up of the total of direct Costs and shared costs, including support costs involved in undertaking oach activity. Direct costs attributable lo a singl8 activity are allocated directly to that activity. Shared co315 which contributè to mora than one activity and support costs which are not attributable lo a single acts'vity are 8PPOrtionod bolwogn those activities on a basis consist&nt with tho use of resources. Central staff costs are allocal8d on th8 basis of time spent, and d*prèci8tion Charges are allocated on the portion of the asset's use. 1.6 Intanglble flxed assets - goodwill Goodwill represents the excess of the (x)sl of acquisition of unincorporated businesses over the lair v8luè of nel assets acquired. 11 is initially recognised as 8n 8sset 8t cost and Is subsequently rneasured al cost 18SS accumulated amortisalion and accumulated impairment losses. Goodwill shall be Considered to have a finite usèful1118, and shall b& am0Sed on a systematic basls over its life. 1.7 Tanglbl• fixed assats Tangible fixed assets are initially measured at cost and subsequenuy measurad at eost or valuation. net of depre¢lafjon and any Impalment losses. Depre¢latlon Is recognlsed so as to WTite off the cost or valuation of assets less th8lr sIdUal values over their useful Ilves on the followlng bases.. Leasehold improvements FSxlures and fittlngs 20% redudng balance. 20% reducing balance. The gain or Ios6 arising on the disposal of an asset 18 determined as the drffèrenca boiween the sale proceeds and the carrying value of the asset, and is recognised in the stslemenl of finan¢ial actiVieS. 1.8 Impalrment of flxed assets At each reporting end dale, the charty reeWS the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets havè gLJffèrèd an impaimient loss. If any such Sndication exists, the recoverable amount of Ihe asset is eslimated in order to dètermine the extent ol the impaimenl l¢)ss lif gnyl. 1.9 Ch and cash equivalents Cash an¢Y ¢ash 8quivalents indude cash in hand, deposits held al call with banks, other $hort-temi liquid investments with original maturities of throe months or less, and bank overdrafts. Bank overdrafts arg shown within borrowings in current liabilities. Baslc flnanclal assets Basic financia5 assets, which include debtors and cash and bank balancas. are initially measured al trans2ciK)n price including transaction costs and are subsequently carried al arnorb$8(J ¢ost using the effective interost mèthod unless th& arrangèment constitutes a financAng Iransaclion, wh8re the transaction is measured 8t the present value of the futurè r8C8iPts discounted at a market rale of interest. FÈn8ncial 8ssats classified as receivable within one year are not amortised. 10-
PHGS FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policles (Continued) B$ic financlalllabllltles Basic financial liabilities, including creditors and bank loans are initially rectJniseLY at transacbon price unless the arrangernent constitutes a financing Iransa¢tion. where the debt instrument is measured al the present value of the future payments discounted al a market rale of interest. Financral liabilities dassrfied as payable within one year are not amortised. Debt inslrurnents are subsequently carried at amortlsgd cost. using Iho effective interest rate method. Trade credilors are obligations to pay for goods or services that have been acquired in ihe ordinary course of operations Irom suppliers. Amounts p8y8b18 are classified as current liabilities if payment is due within one year or less. If not. thay ar& prasantèd as non-currenl liabilities. Trade creditors are recognised initially at transaction price and subsèquently tnea5ured al amortised cost using the effective inierest mèthod. Dorècognltion olfinancial Ilablllties Financial liabl1'eS are derecognised when the charty's contractual obligations expire or are discharged or cancelled. 1.10 Employ09 bonaflts The cost ol any unused holiday &ntitl8m&nl is recognised in tho period in which the employe8'8 seTvice8 ar8 received. Términ8tion benefits a recognised immediately as an expense when tha charlty is demonstrably committed 1¢ t8rminate th8 employment ol an employee or to provide teminatitsn benefits. 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Crltlcal accounting èstlmat•s and Judg•m•nt$ In the application of the charity's accounting policies, the trustees are reqUId to make judgements, estimates and assumptions about the carrying amount of assets and Ilabllities that are not ceadily apparent from other sources. The estimates and associated assumptions are based on historical èxpariènea and 0tr8r factors that are considered io be relevant. Aciual rosults may diffèr from thasa astim8las. The estimates and undedying assumptions are reviewed on an ongoing basis. Rewsions to accounts'ng estimates are recognisgd in the period in whrch the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and fvre periods. Incomè from donailon5 and18gaclg8 Unrestrlcted funds 2024 Unrestrlcted funds 2023 Donations and glfts 1,263,727 168,909 11
PHGS FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 In¢om8 from eharltablo actlvltl•s Unr8stricted Unr•strl¢tod funds funds 2024 2023 Charflable activitles 429,729 41,055 Income from Invfjstments Unre$trictgd Unr8$trlctgd funds fund$ 2024 2023 Interest receivable 10 Expenditure on raising funds Unrestricted Unrestrlcted funds funds 2024 2023 Fundralslng and publlclty Advèrtlslng Other fundraising costs 331 39,330 39,661 12-
PHGS FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AUGUST2024 Expgndlture on ¢harltabl• a¢vItIeS Charitsbl• a¢tlvities 2024 Ch•ritsblo a¢tlvltles 2023 Dirèct ¢o$ts Staff Costs Depreciation and impaimient Bank charges Consultancy Legal and Professlonal fees BoDks and curriculum Exams fees Food and 8chool outings Extracurricular actsvilies Security costs Supply teachers costs 61,596 140,513 177 34.625 2,500 28,897 21,050 19,654 9,800 55.879 39,497 11.067 60 27.425 259 1,014,188 38,811 Grant funding of 8¢tivltles Isee note 81 60,381 119,980 Sharo of support and govamaneè costs Is•è not• 9 Support Govemance 194,035 8,970 1,200 1,277.574 159.991 Analysls by fund Unrestricted funds 1,277,574 159,991 Grants payable Charltablo actbvltles 2024 Grants to institutions-. Friends of Bels Soroh Schneir8r Milal Tzedoko Vochesed Ltd Other religitsus grants 18,500 31,300 10.581 60.381 During the year abtsve grants were made lo rellglous educatlonal Instllullons. 13-
PHGS FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FQR THE YEAR ENDED 31 AUGUST2024 Support costs allocated to actlvltlo8 2024 2023 IT Expenditure Telephone Photocopier Subscriptions TravÈl Cleaning Other expenditure Insurance Govem8nce costs 5,221 2.891 5.313 5,717 58,735 39,501 40,985 35,672 8.970 1.2 203,005 1,200 Analysod bgtwe•n: Charitable activitiès 203.tx)5 1.200 10 Net movomgnt In funds 2024 2023 The net movement fvnds Is stste(l after chargingllcredilingl- Fees p8y8ble for the audit of the charitys financial statements Dèpreciation of owned tangible fixed assets ArnortISon of Intsngible assets 4,000 138,563 1,950 1,200 11,067 11 Tru$te•$ None of the tnjstees lor any parsons wnn8Ctgd wth them) r8coived any remungr81ion or ben8fils from the charity during th$ year. 12 Employee$ The average monthly number of 6mployees dudng the year was: 2024 Nurnber 2023 Number 26 Employm¢nt ¢o$ts 2024 2023 Wages and salaries Other pension costs 614.100 45,463 661.596 14
PHGS FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 12 Employees IContlnu8dl Rgmun•ratlon of key managemgnt p&r80nn•l Tha remuneration of key management persi)nnel was as follows.. 2024 2023 Aggregalg compensation 85,842 13 Taxatlon Th& charity 15 èxempt from tax on Ineoma and gains to the extent that these are applied tr) its eh8rltable objects. 14 Intanglbl¢ fixed assets Goodwlll Co$t Al 1 September 2023 Addltlons- 88paralely acquired 19,500 At 31 August 2024 19,500 Amortisation and impa5miont At 1 S8plemb8r 2023 Amortisation charged for the year 1,950 At 31 Au9USt 2024 1,950 Carrylng amount Al 31 August 2024 17,550 Al 31 August 2023 15-
PHGS FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 15 Tanglblè flxèd as5•ts Leasehold Flxiures and lrnprovements flttlngs Total Cost Al 1 September 2023 Additions 55.335 609,342 55,335 648,547 39,205 At 31 August 2024 664,677 39,205 703,882 Depreclatlon and Impalrm•nt Al 1 September 2023 Depreciation charged in the year 11.067 130,722 11.067 138,563 7.841 Al 31 August 2024 141.789 7,641 149,630 Carrylng amount At 31 August 2024 522,888 31,364 554,252 At 31 August 2023 M.268 44.268 16 CredStors: amounts falllng du8 within ong ygar 2024 2023 Othér taxation and social $9¢uriIy Other creditors Accruals and deferlgd In¢ome 84,778 76,942 4,800 166,520 17 Retirèrnent benefit schemes 2024 2023 Dèflned ¢ontrfbutlon $¢hèmes Charge lo profil or Ios5 in respect of defined ctribu'0n schemes 45,463 The ¢hadty operates a deflned contribution pension scheme for all qualifying employees. The 8ssets of the scheme are held separatety from those ofthe charity in an independenily administered fund. le
PHGS FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 18 Unrestrlct•d funds The unrestricted funds of the ¢harily comprise the unexpend&d balances of donations and grants which are not subject to specrfic conditions by donors 8nd grantors as lo how they may be used. These include designated funds which have bèen sel aside out of unrestricted funds by the trustees for specific purposes. Incomlny resources Re50ure•s At 31 August oxpendgd 2024 September 2023 General funds 50,058 1,693,466 {1.317.2351 426,289 Prévious Perlod: At1 September 2022 Incomlng resources Rèsources At 31 August exp?nded 2023 General funds 85 209.964 1159.9911 50,058 19 R&lated party transactlons There were no disdosable related paty transactions during the year12023- none). 17-