Company registration number 13121519 (England and Wales) Charlty reglstratlon number 1201175 (England and Wales) PHGS FOUNDATION LTD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
PHGS FOUNDATION LTD LEGALAND ADMINISTRATIVE INFORMATION Trust6•s Rabbl Y Halpern Country of Incorporation United Kingdom (England 8nd Walesl 13121519 Charlty reglstratlon England and Wales 1201175 Reglstgred offlce Pardes House Grammar School Hendon LRne London N3 1SA Auditor Goldwins L¢mit8d 75 Maygrove Road West Hampstead London NW6 2EG A¢¢ountants GrJW1nS Limited 75 Maygrove Road West Hampslead London NW6 2EG Bankers Barclays Bank Ple 126 Station Road Edgware Middlesex HAB 7RY Sollcitors 8ud8 N8than Iwanier Tèmple Fortune Parade Bridge Lane London NW11 OQN
PHGS FOUNDATION LTD CONTENTS Pag• Trustees, report Independènt auditoffs raport Slalemenl ol financial adivilies Balants sheet Statèment ol cash flows Notes to the financi21 staternents 9-17
PHGS FOUNDATION LTD TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 The Irusiees present th8ir annual rèport and financlal stat9rn9nts for th8 y88r 8nded 31 August 2025. The financial statgmenis hav8 beèn prepared in a¢cord8n¢e with th8 accounting policies set out in note 1 lo the financial statements and comply with th6 charity's governing docurnenl, the Cornpanies Act 2006, FRS 102 'The Financial Reporting Standard appllcable in the UK and Republic of Ireland. and the Charities SORP -Accounling and Reporting by Charities". Stal8ment ol Recommended Practice applicable to charitie5 preparing their 8c¢ounts in accordance with the Financial Reporting Stsndard 8ppIIc8ble in the UK and Reputlic of Irg18nd IFRS 1021.. Oblectlves and acti¥itlgS The charity was 8slabli5hed to advance the Orthodox Jewish r&ligion and advance education by the provision of a day school for boys known as Pardes House Gramtnar School and by ancillary or incid8nlal educational or religious a1vItI85 and olh8r a5socSated aclivitles for the b8nefit of th8 community. Publ1¢ benefit The tru51ees have pald due regard to guidanc9 185ued by the Charlly Commission in deciding what acllvities the h8rily should undertake. Achievemenls and perforn)on¢e Significant activities 8nd achievements againsl obieclives The trustees cc>n$ider that the performance of the charity this year has been most satisfactory. Funds have been gianted tD institutions during the year frorn the Contribut5 received from donors. Flnanclal revlew The Statement of Finanal adivities shows a surplus for the year of £1.218,035 12024." £376,231) after rnaking grants of £98.50012024.. £60,3811 and the reserves stand al £1,644.32412024.. £426,289). Reserve$ policy 11 is the policy of the charity th8t unr8slricted funds which have not been designatèd for a specific use should be malntained al a level equivalent lo between three and six month's expenditure. The trLJStees consSder that reserves at this lev81 will ensure that, in the event ol a significant drop in funding, they will be able to continue the Gharily's Cur1 activities while consideration is given to ways in which additional funds may b8 raised. This level of res8rve5 has been tnaintained throughoul the year. Structure. governance and managernent The charity is contrdled by its governing document, the memorandum and articles ol association, and CDnstitutes a company lirniled by guarante8 as defined by the Companies Act 2006. Th8 trustees, who are also the directors for the purpos8 of company law, and who served during the year and up lo the date of signature of the finanal staternents were.. R8bbi Y Halpem Recrurtment and appointment of new trustees If necess8ry. new Iruslees 8r8 recrLJited from the personal ¢ontscts of th8 existing trustees. Organ15ational structure Th8 tNst88s manage the day to day running of the charity and rnake all decisions. Statement of trustees. responsibilities The trustees, who are a150 the director5 01 PHGS FOUNDATION LTD for the purpose of company law, 8 responsible lor preparing the Trustees, Report and the linancial slalements in accordance wlth applicable law and Uniled Kingdorn Accounting Standards (United Kingdom GenerallyAccgpled Accountlng Practice).
PHGS FOUNDATION LTD TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Audltgr In accordance with the companys articles. a resolution proposing thal Goldwins Limited be reappoinled as auditor of the company will be put at 8 G8n8ral Meeting. Dlsclosure of Information to audltor Each of th8 trustees has confirmed that there is no inform8tion of which th8y 8r8 aware which is relevant lo the audit, but of which the auditor is unawa. They have further confirmed that they have taken appropriate steps to identify 8uch relevant information and to establish that the auditor is awar8 of such information. The trustees, report was approved by the Board of Trustees. Rabbi Y Halpem Truslee Date..
PHGS FOUNDATION LTD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PHGS FOUNDATION LTD Opinion We have audited the financial statements of PHGS FOUNDATION LTD (the 'charity'l for the year ended 31 August 2025 which cotnPri58 the statement of financial activities. the ba13nc9 sheet. the 5taternent of cash flows and notes lo the financial st8temenls, including significant accounting polici85. The financi81 reporting framework that has been applied in their pparatIOn is applicable 18w and United Kingdorn Accounting Standards. including Financial Reporting Standard 102 The Financi81 Reporting St8ndard applic8ble In the UK and Republic of Ireland (United Kingdom Generally A¢pted Accounting Practice). In ovropinion, the financial statements.. give a true and fair ¥W of the stale ol th8 charitablè company's affairs as at 31 August 2025 and of ils incoming r8sources and appli¢alion of rs5our$. including its incom8 and expendilura, for the year then ended; have b68n property prepared in accordance with Unitad Kingdom Generally Accèpted ArKountin9 Practice.. and have been prepared in accordance with the requirements of the Cornpanies Act 2006. Basls for oplnlon We condu¢led our audit in accordanca with International Standards on Audlting IUKI IISAS IUKII and applicable law. Our responsibilities under those slandard5 are further described in the Audilors osponsibilili8s for lh6 audit of the financial sI8tementS S8clion ol our report. We ar8 independent of the charity In 8ccordance with the elhic81 requirements that are relevant to our audit of the financial statements In the UK, including the FRC'S Ethical standard. and we have fulfilled our other elhic81 respon5ibiliti8s in accordance with thes& requirements. Vwe believe that the audit 8vidence we have obtained is sufficient and 8ppropriate tu provide a basis for our opinion. Conclu$lons relatln9 to golng con¢em In auditing the financi81 statemen15, we have concluded that the trustees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on th8 work we h8ve performed, we have not identified any rnalerial uncertainties lating lo events or conditions that. individually or coileclively. may cast significant doubl on Ihe charity's ability lo continu8 as a going concèrn for a period of at least iwelve tnonths from when the financial stalemenls are auth0ri5ed for issue. Our responsibilit18s and the respon8ibililies of th8 trystees with respect to going concem are des¢ribed in the relevant sectr'ons of this report. Other information The other information comprises thè information included in the annual report oth8r than the financial statements and our auditor's report Ihereon. The trustees gre responsib18 for the oth8r information contained within the &nnual report. Our opinion on the financial Slatements does not cover the other infomation 8nd, except lo the extent olhetwise explicitly stated in our report, we do not express any form ol assurance conclusion thereon. Our re5ponsibilily is to read the other informatlOTh and, in doing so, consider whether the other information is materi8lly inconsistent with tho financial stslements or our knowledg8 obtainBd in th8 Course of Ihg audit, or othefWiSe appears lo be tnat8rially misstated. If we identify such material inconsistencies or apparent material m155tatern8nts. we are required to deterrnine whether this gives rise to a material mi5Statement in the financial statements themselves. If, based on th8 work we have perforrned, we Conclude that the is a material mi5slatement of this other information. we are Tequired to r8POrt that fact. VV8 have nothing lo report in this regard. Oplnlons on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undert8ken in the course of our audit.. the information given in the trust88s' report lor th8 financial year lor which th8 financial statements are prepared. which includes the directors, report prepared for the purposes of cornp8ny law, is consistent with the finan¢ial 5talements," and the directors, r8POrt included within the truste8s' report has bgen ppared in accordan with appli¢able legal requ1mentS.
PHGS FOUNDATION LTD INDEPENDENT AUDITOR'S REPORT {CONTINUED> TO THE MEMBERS OF PHGS FOUNDATION LTD Matters on whl¢h we are r•quired to report by ox¢ep¢lon In the light of the knowledge and understanding of the charity and its environrnent obtained in the wurse of the audit, we have not id8ntified material misstaternents In thB direcloT5' r8port included within the trustees, report. We h8v8 nothing to report in respect of thè following matters in relation to which the Companies Act 2006 requires us lo report lo you If, In our opinion.. adequate accounting records hav8 not been kept, or tUrnS adequate foi our audit have not been r8eaiv8d from branches not visited by us,. or the financial st8lemenls are not In agreernent with th8 ecKountln9 COrdS and retum5', QT certain disclosures of trustees, remuneration spgcifi8d by law are not made", or we have not received all tho information and explanation5 we require for our audit.. or the trustees were not entitled to prepare the financial siaternent5 in accordance with the small companies regim8 and tske 8dv8nta9e ol the small companies, exernptions in p¥eparing the tru$laes' report and from the requirement lo ppa a strategic part. Responslbilities of trustees As explained more fully in the statement of trustees, responsibilities, the trustees. who a alsts the directors of the charity lor the purpose of ¢ompany18w, a responsible for the preparation ol the financial st81ements 8nd for being satisfied th81 they give a true and fair view, and lor such internal control as th8 Iruste8s determine is necessary to enable the preparation of financial statements that are free from material misslaternent, whether due lo fraud or error. In preparing the financial statement5, the trustees are responsible for assessing th8 charity's ability lo continue as a going ¢oncertT, disclosing, as applicable, matter5 related to going ¢oncern and uslng the golng concern basis of accounting unl8SS the trustees either intend lo liquidate the charitable company or to cease operations, or have no realistsc alternative but 10 do so. Auditor's re$pon5ibilitle5 for the audit of the financial statements Our objectives are to obtain reasOnae assurance about whether the financial statements as a whole a free from material misst31etnenl, whether due lo fraud or èrror, and to issue an audilols report that includes our opinion. Re8sonable assuran is a high level of assuranc8 bul is not a guawntee that an audit conducted in accordance with ISAS IUKI will always detect 3 rnat8rial misstatement when It 8xisls. Misstatements can arise from fraud or error and are considered rnalerial il. individually or in the ag9gate. they could reasonably b8 expected to influence the econom decisions of users taken on the basis of these financial statements. Irregularllitrs 8re irTrstsnrRs ol non<ompliance th laws and regulations. The objectives of our audit are to obtain suffici8nt appropriate audit avidence regarding compliance with laws and rggulations that have a direct effeel on tha determination ol maional amounts and disclosures In the financial sl8ternenls, to perform audit procedures to help identify Instances of non-compliance with other laws and regulations that may have a Tnalerial eff8Ct on the financial stalem8nts. and to respond appropriately lo idgntified or Su$¢ted non-(x)mplianc8 with bws and regulalions idgntih'ed during tha audit. The extent lo which our proc&duie5 are capable ol delecling irregularities. including traud. is detailed bebw.
PHGS FOUNDATION LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF PHGS FOUNDATION LTD In idonbfying and ass&ssing risks of rnalerial rnisstal&menl in respecl of irregularitles. including frdud 8nd non- complian with laws and regulations, our procedures included the following.. We enquired of rnanagement, which included obiaining and r8viewing supporting documentation, conceming the chariljls policies and procedures relating to the Internal controls established to mitigate risks related to fraud or non-cornpliance with laws and regulatiOll5. We reviewed the flnancial statemènt di5cIosures and tested these to Supporting docurnentation to assess compliance with applicable law5 and regulations. In addressing th& risk of fraud through managernent override of controls. we tested the appropriatenes5 of journal entries and other adjustments. assessed whether the ludgernents made in making accounting estimates are indicative tsf a polenli£l bias and le51ed significant Irar15actlQll5 that artr unusual or those outside the norrnal course of business. Because of the inherent limitations of an audit, the is a risk that we will not detect all irregularities, includlng those leading to 8 material misstatement in the financial statements or non-compliance wilh regu18tion. The iisk Is also greater re9arding irregularities occurring due to fraud rather than error, as fraud involves Intentional concealment, forgery, collusion, omission or misrepresentation. A further description ol our SponSIbl17t1eS Is avallable on the Flnanclal Reporting Councll's website al.. https'.11 www.frc.org.ukfauditorsre5ponsibilit185. This description forms part of our audilor'$ r8port. U58 of our report This port is madtr solely lo the charitab18 companys m8mber5. as a body, in accordanc8 Wlth Chapter 3 01 Parl 16 of the Cotnpanies Act 2006. Our audit work has been undertaken so that we might state to the charitable companys members those matters we are reqUId lo stale to thern in an auditor'5 report and lor no other purpose. To the fullest extent perrnitted by law, we do not 8ccept or 8S5um8 r8sponsibility to anyone other than th8 charitsble cornpany and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Anthony Epton (Senior Statuttsry Auditor) For and on behalf of Goldwins Limited, StatutoryAuditor Chartered Accountants 75 Maygrovè Roa West Harnpstead London NW6 2EG Date.. 26 June 2026
PHGS FOUNDATION LTD STATEMENT OF FINANCIAL ACTIVITIES IINCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025 Unrostrlcted funds 2025 Unre$trictad funds 2024 Notes Income from.. Donations and legacies Charitable activities Inv88tm&nts 2,336,794 864,385 1,263,727 429,729 10 Total Income 3,201,179 1,893,466 Expenditure on.. Raising lund5 Charitable aclivilies 13,884 1,969,260 39.661 1,277.574 Total expendlture 1,983,144 1,317,235 Not In¢omg and rnov8m¢nt In funds 1,218.035 376,231 Rèconciliatlon of fund5'. Fund balarices al 1 Septernber 2024 426,289 50,058 Fund balance$ at 31 August 2025 1.644,324 426,289 The statement of financial activities includes all gains and losses cogniSed in the year. All income and expenditure clerive from continuing activities. Tho notes on pages 9 10 17 form part of these finandal stal$mant5.
PHGS FOUNDATION LTD BALANCE SHEET AS AT31 AUGUST 2025 2025 2024 Notes Fixed ass815 Goodwill Tangible assets 14 15 15,600 1,758,553 17.550 554,252 Curr•nt assèts Debtors Cash at bank and in hond 16 33,318 7,297 21.007 40.615 21.007 CredltQTS.' amounts fallln9 due wlthln one year 17 1110.4441 1166,5201 Net current Ilabllltle$ 1129,8291 1145,5131 Total ass•ts lèss current Ilabllltlos 1,644,324 426.289 Tho funds of the charfty Unrestricted funds 19 1.644.324 426,289 1,644,324 428,289 The notes on pages 9 to 17 form part of these financial statements. The financial stalements were approved by the Iruslees on £rr Rabbi Y Halp8 Trustee
PHGS FOUNDATION LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Not•s Cash flows from oporaung actlvitlos Cash generated from operations 1,295.589 683,254 Inv8Stln9 actlvltl8s Purth8se of intsngible assets Purcha58 of tangib18 fixed assets Inveslwent income reIVed 119,5001 1648.5471 10 11,309,299) Net ca$h used In Inves¢lng actlvltles 11,309,299) 1668,0371 Net cash gen8rat8d from flnanclng activities Nel Idecreasellln¢rgase In cash and cash equlvalents 113,7101 15.217 Cash and eash equivalents al beginning of year 21,007 5,790 Cash and cash equlvalent5 at end of year 7,297 21,007 The note5 on pages 9 to 17 form part of these financial statement5.
PHGS FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting poll¢ios Charity infomia¢ion PHGS FOUNDATION LTD is a private company limited by guarantee incorporated in England and Wales. Th8 gistered office is Pardes House Grammar School, Hendon Lane, London, N3 18A. 1.1 Basls of preparatlon The financial statements have been prepare(l in accordance with the charity's governing document, the Companies Act 2006, FRS 102 'The Financial Reporting Standard applicable in Ibe UK and Republic of IreL3nd' and the Chari118s SORP "Accounting and Reporting by Ch8ritl85.' Slat¢menl of Recommended Practi applicable to charities pparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.. Th8 charity is a Public 88nefit Enlty a5 iJefin8d by FRS 102. The finandal stalem8nts are prepared in sleding, which is the fun¢tn81 currency of the charity. Monetary amounts In these financial slaternents are rounded to the nearest £. The fin8ncial statement8 have been prepared under the historical cost convention. modified to indude certaln rinancial instruments al lair valuel. The principal aCUnting policies adopted are Sel out below. 1.2 Golng con¢ern Al the lime of approving the financi81 statemerFls. the twstee5 have a reasonab18 expedabon that th8 charity has adequate reswrces to continue in operational existence lor the fore58eable lulure. Thus th8 trustees continue to aclopt the going concem basis of accounting in preparirTrg th& financial statements. 1.3 Charitable funds Unreslricled funds a available for use at the discretion of thg trustees in furtherance of their charitable objectives. Reslricl8d funds are subject to specific conditions by donors or grantors as to how they may b8 used. The purposes and usès of the restricted funds are set out in the notes to the finanoal stalemenls. Endowment fund5 are subject to speryfic condits'ons by donors th81 the capltal must be mainlaine(I by the charity. 1.4 In¢ome Income is recognis8d when the charity is legally entitled to It after any performance conditions have bean rn81, the amount5 can be measured reliably, and il 15 probable that income will be received. Cash donations are re¢ognlsed on receipt. Other donations are recognised ofi tha charity has been nolif18d ol the donation, unless P8rfomiance conditions require deferral of the amount. Income tax recoverable in relation lo dOnatnS received under Gift or deeds of covenant is r8cognise¢Y al the time of the donation. Legacies 8re recognised on reTript or otherwise if the charity has been notified of an irnp8nding dislribulion, the 8mounl is known, ancl receipt 1$ expected. If the amount is not known, the 18gacy Is treated as a conlingenl a5S8t
PHGS FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng policies IContlnu•dl 1.5 Expenditure Expenditure is recognised On there is a legal or constructive obligation to transfer economic benefit to 8 third party. it is probable that a tr8nsfer of economic benefits will be requi in 5ettletnellt, and the arnount of the obligation can be measured lIablY. Expenditure Is classified by 8divity. The costs of each activty are ma¢Je up of the total of direct costs and shargd cost5, including support C05t5 involved in undertaking aach activity. Di¢ costs atlribulable 10 8 sing18 activity are allocated ¢Jirectly to that activity. Shared c081s which conlribule lo more than on8 activity and support costs which are not attributable to a single activity 8re apportioned between those activities on a basis consistent with the use ol resour5. C8ntr81 staff costs are allocated on the basls of time sp8llt, and d8pr8ciation ¢harges are allolsd on the portion of thè as581'8 use. 1.6 Intangible assets . goodwill Gooilwill represents the excess ol the c05t of acquisition of unlncorporated businesses over the fair valu8 of nel 8ssets acquired. 11 is initially recognised as an asset at cost and is subsequently m88sured at ¢ost less accumulated amortisalion and ac¢umulaled ifflpairrnenl losses. Goodwill shall be considered lo have a finite useful lrfe, and shall be am0Se¢j on a systematic basis over its life. 1.7 Tangible flx8d assets Tangible fixed assets are initially measured al cost and subsequently Tneasured at cost or valuation, net of depreciation and any impairtnenl Ioss8S. Depreciation is re¢ognised so as lo writè off the cost or valuation of assets less their residual values ovèr Ihgir useful lives on the following basas.. Leas8hold improvèmants Fixtures and fittings 20 y88rs slraighl lints. 20% redudng balance. The gain or loss arising on the disposal ol an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is r8cognised in the 51alemenl of financial a¢livilies. 1.8 Impalmignt of fixed 8$sets Al each reporting end d818, thg Charity revièws the carrying amounts of its tangible 8nd intsngibie assets lo determine wheth8r Ihcre is any indication that those 8ssels have suff8r8d an Impairment loss. If any such indication exists, the recoverablg amount of the asset 15 estimated in order to determine th8 8Xt8nl of the irnP8irmenl loss lif anyl. 1.9 Cash and ¢ash equivalent5 Cash and cash equivalents includ8 C8sh in hand, deposits held at call with bank5, Qth8r short-t8rm liquid inveslrnents with original maturities ol three months or less. and bank tsverdrafts. Bank overdrafts are shown within tM)rrowings in ¢urrent liabilities. 1.10 Flnancial instruments The charity has elected lo apply th8 provision5 of Section 11 'Basic Fin8ncial Instrutn8nls' and Sedion 12 'Olher Financial Instruments Issues, of FRS 102 to 811 of its financial instrurnents. Financial instruments aE recognised in the charity's balanc8 sheet when the charity becornes party to the conlr8cIu81 provisions ol the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when thar8 is a legally enforc8able right to set off the recogniseij amounts and th8r8 is an in18ntion io selue on a net ba515 or to realise th8 asset and settle the liability SimultaneouY. 10-
PHGS FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Ac¢ounting pollcles IContinu8dl Basic financial a55efs Basic financial assets, which Include debtors and cash and bank tsalan, are inrtially measured at tfansaction price including tr8nsa¢tion costs and are subsequently caffled 81 aTnortised cost Using the effectivè Inte$1 m&thod unless the arrangement constitutes a financing Iransaclion. where the transaction is measured at the pres&nt value of the lulure receipts discounted at a market rale of inte$1. Finan81 8ssels classified as receivable within one year are not amortised. 8a51c financial liabllltles BaslG finan¢ial liabilities, in¢luiYlng creditors and bank loans are inltially recognlsetj at transaction price unless the arr8ngemenl constitutes a financing transaction, where the debt instrument 18 measured at the present Value ol the future payments discounted at a market rale of interest. Financial liabilities dassified as payable withln one year a not amortised. Debt instrument5 8r8 subsèquently Carrled at 8rnottised cost. using the effective inter8St rate mathod. Trade creditors are obligations to Pay for good5 or service5 thal have be8n aCqUid in th8 ordinary course of operations from suppliers. Amounts payabl8 are classif18d 8$ currant li8bililies rf p8yrnent Is du8 within one year or less. If not. they arg presented as non-curr8nt liabilities. Trade croditors are recogni58d initially at transaction price and sub$equenlly rneasured &t amortise(I cost uslng the effective inter88t method. Dw¢¢ognltion offinan¢lal liabllltles Financial liabiliues are derecogni58d when the charity's contractual obligations expire or are dSseharged or cancelled. 1.11 Employee benefi¢s The cost of any unused holiday entstlem8nl is recognised in the period in which the employee s services ar8 received. Tertnination benefits are recognised immediately as an 8xpense when the eharity is demonstrably commi118d lo terminate th8 employtnenl of an ernployeo or lo provide terrninalion benefi15. 1.12 Retlrefflent benefits Payments lo defined contribution retirement benefil Schemes are charged as an expense as they fall due. critical a¢¢ounting estlmat85 and lu(Igèrnen¢s In the application of the charity's accounting poli88, the truste8s are required to make judgernents, estimates and assumptions about the carrying amount of assels and liabilities that are not readily apparent from other sourcès. Th8 estifflates and èssocialed assumptions ar8 based on histoncal exp8r1@n and other factors that are considered to be relevant. Actual results may differ from these estimates. The eslim&les atTrd underlying 8¥$umptions ar8 revi8W8d on all ongoing basis. Revisions to accounting eslitnates are Tecognised In the period in which the estimate 15 revised where the vIsion affe¢t$ only that period, or in the period of the revision and futur8 periods where the revision affec15 both current and future P8ri0ds. 11
PHGS FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Income from donations and legaciès Unrèstricted funds 2025 Unre$tri¢ted funds 2024 Donations and gifts Grants 2,182,310 174,484 1,263,727 2,336.794 1,263,727 In¢om8 from charflable actJvtll•s Unrèstricted funds 2025 Unrestrlcte funds 2024 Charitable activities 864.385 429,729 Income from It)vt$tments Unrestrl¢ted Unrestricted funds funds 2025 2024 Intarest receivae 10 Expènditure on rai$lny funds Unrestrleted Unrestricted funds funds 2025 2024 Fundraislng and publicity Advertising Oth8r fundraising costs 13.884 331 39,330 13.884 39,661 12-
PHGS FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 AUGUST 2025 Expenditure on charitable activitie Charitable activi¢le8 2025 Charitable actlvltias 2024 Dlrect Costs Stsff Gosts Depreciation and Impairtn8nt Bank ch8rge$ Consultancy Legal and Professional le9S 8ooks and curriculum Exams fees Food and sehool outings Exlracurricubr 8Ctivitie5 Security costs Suppty teachers rA)sts 1,119,726 106,948 217 22,828 1,275 137.458 27,651 128,535 6,220 75,030 35,658 661.596 140.513 177 34,625 2.500 28.897 21,050 19,654 9.800 55,879 39.497 1,661,546 1.014,188 Grant funding of acUvltl8s (see note 81 98,500 60,381 Share ol support and governance ¢osts1580 note 91 Support Govem8nce 201,814 7,400 194.035 8,970 1,969,260 1,277.574 Analysls by fund unstrICted funds 1,969,260 1,277,574 Grant5 payable Charitable activities Charitsble actlvlties 2024 2025 Grants lo inslilutions.. Friends ol Bels Soroh Schneirer Mifal Tzedoko Vochesed Ltd TOLDOS Aharon Other religious grants 18,500 31,300 55.000 25,000 18,500 10,581 98.500 60.381 During the yèar above grants We mada to religious edueatr"ollal institutions. 13
PHGS FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Support Costs allocated to activit185 2025 2024 IT Expenditure Telephone PhotOCDpier Subscriptions Travel Cleaning Other expenditurè Insurance Gov8rnanoe costs 27,813 7,740 14,260 20.294 5,000 52,003 31.934 42,770 7,400 5,221 2.891 5,313 5.717 58,735 39,501 40,985 35.672 8,970 209.214 203,005 Analysed bgtween: Charitable activity'es 209,214 203,005 10 Net movement in funds 2025 2024 The net movernent in funds is staled after chargingllcr8ditingl.. Fees payablè for thg audit of the chartys financi81 statements Depreciation of owned tangible fixed assets Amortisation of intanglblè a858ts 4,800 104,998 1,950 4,800 138,563 1,950 11 Trustsos None of thg trustees lor any parsons connected wlth Ih&ml ro¢6ived any remuntsratn or b6n8fit$ from the charity during the year. 12 Employees The average monthly number of employees during the year wa5.. 2025 Number 2024 Number 50 26 Employment Costs 2025 2024 Wages and salaries Other pension costs 1,105,220 14,506 629,146 30,417 1,119,726 661,596 14
PHGS FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 12 Employee$ Icontinuedl Remuneration of koy managemènt Porsonn•l The remunerdtion ol key management personnel was as follows.. 2025 2024 Aggregate LX)rnpensalion 157,039 85,842 13 Taxatlon The charity is exempt from tsx on Ineotne and gains lo the extent that these are applied to its charitable objects. 14 Intangible fixed assets G¢)odwill Cost At 1 S8pternber 2024 and 31 August 2025 19,500 Amortisatitsn and lrnpairment At 1 September 2024 Arnortisation charged for the year 1,950 1,950 At 31 Augusl 2025 3,900 Carrylng amount At 31 August 2025 15,600 At 31 August 2024 17,550 15-
PHGS FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 AUGUST 2025 15 Tangibh frxed assets Lfjasehold Flxtum¥ ahd Improvemènts ttlnus Tot•1 Cost At 1 Seplembgr 2024 Additions 664.677 1,309,125 39,205 703,882 174 1.309,299 At 31 August 2025 1,973.802 39,379 2,013,181 D•pr8ciatlon and Impairment At 1 Septgrnber 2024 Depreciation charged in the ye8r 141,789 98.690 7,e41 6.308 149,630 104,998 At 31 August 2025 240,479 14,149 254,628 Carylng amount Al 31 August 202S 1.733.323 25,230 1.758.553 At 31 August 2024 522,888 31,364 554.252 16 Deblofs 2025 2024 Amounts falling due wlthin one year.. rrade debtors Prepayments and accrued income 27,124 6,194 33.318 17 Creditors.. amounts falling duè within one yt8r 2025 2024 Other tax8tion and social secunty Trade creditors Other creditors Accrua15 and deferr8d inwrne 151.035 14.609 84,778 76.942 4,800 4,800 170,444 166.520 18 Retirement benefit s¢hem8S 2025 2024 Defined Contribution sch8me5 Charge to proffil or loss In ie5pect ol defined cothbuts'on schemès 14,506 30.417 18-
PHGS FOUNDATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 18 Retlrem•nt bènefit schemes Icontinuedl Th8 rharily operates a defined contribution pension scheme for all qualifying employee5. Th8 as58ls of Ihe scheme are held separately from those ol the charity in an independently adrninistered funcl. 19 Unr83trlcted funds The unrestricted funds of the charity comprise the unexpended baiqnces ol donations and grants which are nol subject to specific conditions by donors and gr8lltors as to how they rnay b8 US8d. These include designated fund5 which have l)een set aside out of unreslricled funds by the trustees lor specific purposes. At1 September 2024 Incoming r•sour¢es Resources At 31 Au9USt expended 2025 General funds 426,289 3.201,179 11,983,144) 1,644.324 Previous year- Jncoming r8sour¢es Re$our¢es At 31 August exp•ndad 2024 September 2023 General funds 50.058 1,693,466 11.317.235) 426,289 20 Rèlatèd party transactlons There war8 no disdosable related party transactions during th8 y88r12024 none). 17