**CHARITY REGISTRATION NUMBER: 1201715** 

## **Kings Square Library Unaudited Financial Statements** 

# **31 December 2025** 

## **LEVENSONS LTD** 

Chartered Certified Accountants Rico House George Street Manchester M25 9WS 



## **Kings Square Library** 

## **Financial Statements** 

## **Year ended 31 December 2025** 

||**Page**|
|---|---|
|Trustees' annual report|**1**|
|Statement of financial activities|**3**|
|Statement of financial position|**4**|
|Notes to the financial statements|**5**|





## **Kings Square Library** 

## **Trustees' Annual Report** 

## **Year ended 31 December 2025** 

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2025. 

## **Reference and administrative details** 

**Registered charity name** Kings Square Library **Charity registration number** 1201715 **Principal office** 11 Turner Street Salford M7 4PD 

## **The trustees** 

Mrs H Ehrentreu (Appointed 12 June 2025) Mrs C Einhorn Mrs S Schechter Mr S Schechter (Resigned 12 June 2025) **Accountants** Levensons Ltd Chartered Certified Accountants Rico House George Street Manchester M25 9WS 

## **Structure, governance and management** 

## Governing document 

The charity was incorporated on 25 January 2023 as a charitable incorporated organisation, and is governed by its constitution. 

Recruitment and appointment of new trustees 

New trustees are appointed due to their interest in the work of charity. 

## Organisational structure 

The trustees administer the day-to-day affairs of the charity. None of the trustees have any beneficial interest in the charity. 

## Induction and training of new trustees 

New trustees are given a full induction by the directors. Trustees can retire when they wish as they do not serve under a fixed term of tenure. 

**1** 



**Trustees' Annual Report** _**(continued)**_ 

## **Kings Square Library** 

## **Year ended 31 December 2025** 

## **Objectives and activities** 

## Objectives and aims 

The objects of the charity are the advancement of education for the public benefit by the maintenance and operation of a Jewish library and related activities in Greater Manchester. 

## Public benefit 

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. 

## **Achievements and performance** 

The charity runs a library which served over 250 local families this year. 

## **Financial review** 

## Financial position 

Income from donations totalled £10,223 (2024 - £14,820). Expenditure in furtherance of charitable activities aggregated £9,269 (2024 - £13,772) resulting in net income of £954 (2024 - £1,048). The financial results of the charity's activities for the year to 31 December 2024 are fully reflected on pages 3 and 4 of the Financial Statements together with the notes thereon. 

## Reserves policy 

The trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on activities and receiving resources through voluntary grants. The trustees consider that the ideal level of reserves as at 31 December 2025 would be three months of resources expended which equates to £2,317. The actual free reserves as at 31 December 2025 were £3,069 which is slightly higher than our target figure. 

The trustees' annual report was approved on 24 March 2026 and signed on behalf of the board of trustees by: 

Mrs S Schechter Trustee 

**2** 



## **Kings Square Library** 

## **Statement of Financial Activities** 

## **Year ended 31 December 2025** 

|||**2025**|**2025**|2024|
|---|---|---|---|---|
|||Unrestricted|||
|||funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|£|
|**Income and endowments**|||||
|Donations and legacies|**4**|10,223|10,223|14,820|
|||��������|��������|��������|
|**Total income**||10,223|10,223|14,820|
|||��������|��������|��������|
|**Expenditure**|||||
|Expenditure on charitable activities|**5,6**|9,269|9,269|13,772|
|||��������|��������|��������|
|**Total expenditure**||9,269|9,269|13,772|
|||��������|��������|��������|
|||��������|��������|��������|
|**Net income and net movement in funds**||954|954|1,048|
|||��������|��������|��������|
|**Reconciliation of funds**|||||
|Total funds brought forward||2,115|2,115|1,067|
|||��������|��������|��������|
|**Total funds carried forward**||3,069|3,069|2,115|
|||��������|��������|��������|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

**The notes on pages 5 to 9 form part of these financial statements.** 

**3** 



## **Kings Square Library** 

## **Statement of Financial Position** 

## **31 December 2025** 

|||**2025**|2024|
|---|---|---|---|
||**Note**|**£**|£|
|**Current assets**||||
|Cash at bank and in hand||3,069|2,115|
|||�������|�������|
|**Net current assets**||3,069|2,115|
|||�������|�������|
|**Total assets less current liabilities**||3,069|2,115|
|||�������|�������|
|**Funds of the charity**||||
|Unrestricted funds||3,069|2,115|
|||�������|�������|
|**Total charity funds**|**10**|3,069|2,115|
|||�������|�������|



These financial statements were approved by the board of trustees and authorised for issue on 24 March 2026, and are signed on behalf of the board by: 

Mrs S Schechter Trustee 

**The notes on pages 5 to 9 form part of these financial statements.** 

**4** 



**Kings Square Library** 

## **Notes to the Financial Statements** 

## **Year ended 31 December 2025** 

## **1. 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 11 Turner Street, Salford, M7 4PD. 

## **2. Statement of compliance** 

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 to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. 

## **3. 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 at fair value through income or expenditure. 

The financial statements are prepared in sterling, which is the functional currency of the entity. 

## **Going concern** 

There are no material uncertainties about the charity's ability to continue. 

## **Judgements and key sources of estimation uncertainty** 

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 

## **Fund accounting** 

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. 

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. 

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. 

**5** 



**Kings Square Library** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2025** 

**3. Accounting policies** _**(continued)**_ 

## **Incoming resources** 

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it 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 entitlement to the gift, receipt is probable and its amount can be measured reliably. 

- 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 to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received 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 it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 

## **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 to which it relates: 

- expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods. 

- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. 

- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. 

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. 

## **Financial instruments** 

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. 

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. 

**6** 



**Kings Square Library** 

**Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2025** 

## **3. Accounting policies** _**(continued)**_ 

## **Financial instruments** _**(continued)**_ 

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. 

Debt instruments are subsequently measured at amortised cost. 

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. 

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. 

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. 

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. 

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 

## **4. Donations and legacies** 

||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|
||Funds|**2025**|Funds|2024|
||£|**£**|£|£|
|**Donations**|||||
|Donations type 1|10,223|10,223|14,820|14,820|
||��������|��������|��������|��������|
|**Expenditure on charitable**|**activities by fund type**||||
||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
||Funds|**2025**|Funds|2024|
||£|**£**|£|£|
|Activity type 1|8,596|8,596|12,284|12,284|
|Support costs|673|673|1,488|1,488|
||�������|�������|��������|��������|
||9,269|9,269|13,772|13,772|
||�������|�������|��������|��������|



## **5. Expenditure on charitable activities by fund type** 

**7** 



## **Kings Square Library** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2025** 

## **6. Expenditure on charitable activities by activity type** 

|||Activities||||
|---|---|---|---|---|---|
|||undertaken||**Total funds**|Total fund|
|||directly|Support costs|**2025**|2024|
|||£|£|**£**|£|
|Activity type|1|8,596|673|9,269|13,772|
|||�������|����|�������|��������|



**7. Analysis of support costs** 

|||Analysis of|||
|---|---|---|---|---|
|||support costs|||
|||activity 1|**Total 2025**|Total 2024|
|||£|**£**|£|
||Governance costs|673|673|1,487|
|||����|����|�������|
|**8.**|**Staff costs**||||
||The total staff costs and employee benefits for the reporting period are||analysed as|follows:|
||||**2025**|2024|
||||**£**|£|
||Wages and salaries||–|500|
||||����|����|
||The average head count of employees during the year was Nil (2024:||1). The average number of||
||full-time equivalent employees during|the year is analysed as follows:|||
||||**2025**|2024|
||||**No.**|No.|
||Number of staff - type 1||–<br>����|1<br>����|



No employee received employee benefits of more than £60,000 during the year (2024: Nil). 

## **9. Trustee remuneration and expenses** 

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees; or 

## **10. Analysis of charitable funds** 

## **Unrestricted funds** 

|**Unrestricted funds**||||||
|---|---|---|---|---|---|
|||At|||**At**|
||1|January 202||**31**|**December**|
|||5|Income|Expenditure|**2025**|
|||£|£|£|£|
|General funds||2,115|10,223|(9,269)|3,069|
|||�������|��������|�������|�������|
|||At|||At|
||1|January 202||31|December|
|||4|Income|Expenditure|2024|
|||£|£|£|£|
|General funds||1,067|14,820|(13,772)|2,115|
|||�������|��������|��������|�������|



**8** 



## **Kings Square Library** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2025** 

## **11. Analysis of net assets between funds** 

||Unrestricted|**Total Funds**|
|---|---|---|
||Funds|**2025**|
||£|**£**|
|Current assets|3,069|3,069|
|Creditors less than 1 year|–|–|
||�������|�������|
|**Net assets**|3,069|3,069|
||�������|�������|
||Unrestricted|Total Funds|
||Funds|2024|
||£|£|
|Current assets|2,115|2,115|
|Creditors less than 1 year|(2,115)|(2,115)|
||�������|�������|
|**Net assets**|–|–|
||�������|�������|



**9**