2025-09-30-accounts

CHARITY REGISTRATION NUMBER: 1202846

Quality Studies Unaudited Financial Statements

30 September 2025

WHITESIDE AND DAVIES LTD

Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE

Quality Studies

Financial Statements

Year ended 30 September 2025

	Page
Trustees' annual report	1
Independent examiner's report to the trustees	3
Statement of financial activities	4
Statement of financial position	5
Notes to the financial statements	6

Quality Studies

Trustees' Annual Report

Year ended 30 September 2025

The trustees present their report and the unaudited financial statements of the charity for the year ended 30 September 2025.

Reference and administrative details

Registered charity name Quality Studies Charity registration number 1202846 Principal office 74-80 Markfield Road London N15 4QF England The trustees Mr A Markowitz Mr M Gluck Mr S Berger Independent examiner Ian Graff FCCA 158 Cromwell Road Salford M6 6DE

Structure, governance and management

Quality Studies is a Charitable Incorporated Organisation (CIO) constituted under a Foundation. It is controlled by its governing document dated 24 April 2023 and was registered with the Charity Commission on 26 April 2023. The Directors/Trustees are responsible for the governance of the organisation and are active in all operational aspects of strategic management. Major policy decisions are decided at full directors'/trustees' meetings. The trustees ensure completeness of records through internal controls, regular reviews, and oversight procedures.

Objectives and activities

The objects of the CIO are to act as a resource for young people living in and around London by providing advice and assistance and organising programmes of physical, educational and other activities as a means of: a. advancing in life and helping young people by developing their skills, capacities and capabilities; b. advancing education;

c. relieving unemployment;

d. providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit.

The trustees have taken due heed of their obligations relating to Public Benefit Duty affecting charities, as well as to their obligations under the Equalities Act 2010. The trustees are satisfied that they meet their obligations in this respect.

1

Quality Studies

Trustees' Annual Report (continued)

Year ended 30 September 2025

Achievements and performance

The charity received £283,241 (2024 - £102,856) in donations and £20,000 in National Lottery grants (2024 - nil) during the year, and £252,035 (2024 - £71,198) was paid out in furtherance of its charitable objectives. There was an overall surplus for the year of £51,206 (2024 - £31,660). The trustees give their appreciation to the National Lottery Commission for its grant to fund project ManKIND, and to all of the charity's donors and volunteers, who make its achievements possible.

Financial review

The charity maintains a reserves policy to hold sufficient unrestricted funds to cover 3-6 months of core operating costs. The trustees review this regularly and are satisfied the current level of reserves is adequate to support the charity's activities and manage unforeseen events.

The balance of the unrestricted funds is a surplus of £71,522 (2024 - £31,660). The balance of restricted funds for project ManKIND is a surplus of £11,344 (2024 - nil).

The trustees' annual report was approved on 22 June 2026 and signed on behalf of the board of trustees by:

Mr A Markowitz Trustee

2

Quality Studies

Independent Examiner's Report to the Trustees of Quality Studies

Year ended 30 September 2025

I report to the trustees on my examination of the financial statements of Quality Studies ('the charity') for the year ended 30 September 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements 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 145(5)(b) of the Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a 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 drawn in this report in order to enable a proper understanding of the accounts to be reached.

Ian Graff FCCA Independent Examiner

158 Cromwell Road Salford M6 6DE

3

Quality Studies

Statement of Financial Activities

Year ended 30 September 2025

					Period from
					26 Apr 23 to
		Year	to 30 Sep	25	30 Sep 24
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	4	283,241	20,000	303,241	102,856
Investment income	5	–	–	–	2
		─────────	────────	─────────	─────────
Total income		283,241	20,000	303,241	102,858
		═════════	════════	═════════	═════════
Expenditure
Expenditure on raising funds:
Costs of raising donations and
legacies	6	6,520	–	6,520	11,925
Expenditure on charitable activities	7,8	236,859	8,656	245,515	59,273
		─────────	────────	─────────	─────────
Total expenditure		243,379	8,656	252,035	71,198
		═════════	════════	═════════	═════════
		─────────	────────	─────────	─────────
Net income and net movement in	funds	39,862	11,344	51,206	31,660
		═════════	════════	═════════	═════════
Reconciliation of funds
Total funds brought forward		31,660	–	31,660	–
		─────────	────────	─────────	─────────
Total funds carried forward		71,522	11,344	82,866	31,660
		═════════	════════	═════════	═════════

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 6 to 13 form part of these financial statements.

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Quality Studies

Statement of Financial Position

30 September 2025

		2025	2024
	Note	£	£
Fixed assets
Tangible fixed assets	14	71,301	26,990
Current assets
Cash at bank and in hand		12,525	5,630
Creditors: amounts falling due within one year	15	960	960
		────────	───────
Net current assets		11,565	4,670
		────────	────────
Total assets less current liabilities		82,866	31,660
		────────	────────
Net assets		82,866	31,660
		════════	════════
Funds of the charity
Restricted funds		11,344	–
Unrestricted funds		71,522	31,660
		────────	────────
Total charity funds	16	82,866 ════════	31,660 ════════

These financial statements were approved by the board of trustees and authorised for issue on 22 Jun 26, and are signed on behalf of the board by:

Mr A Markowitz Trustee

The notes on pages 6 to 13 form part of these financial statements.

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Quality Studies

Notes to the Financial Statements

Year ended 30 September 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 74-80 Markfield Road, London, N15 4QF, England.

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.

6

Quality Studies

Notes to the Financial Statements (continued)

Year ended 30 September 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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Quality Studies

Notes to the Financial Statements (continued)

Year ended 30 September 2025

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property - The building works are depreciated over the remaining term on the lease. Fixtures and fittings - 20% straight line Books - 10% straight line

The Sefer Torah is not depreciated.

Impairment 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 date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit 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 testing 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 to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

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.

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.

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Quality Studies

Notes to the Financial Statements (continued)

Year ended 30 September 2025

3. Accounting policies (continued)

Financial instruments (continued)

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	Restricted	Total Funds
	Funds	Funds	2025
	£	£	£
Donations
Donations received	283,241	–	283,241
Grants
NL grants received	–	20,000	20,000
	─────────	────────	─────────
	283,241	20,000	303,241
	═════════	════════	═════════
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
Donations
Donations received	102,856	–	102,856
Grants
NL grants received	–	–	–
	─────────	────	─────────
	102,856	–	102,856
	═════════	════	═════════

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Quality Studies

Notes to the Financial Statements (continued)

Year ended 30 September 2025

5. Investment income

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2025	Funds	2024
		£	£	£	£
	Bank interest receivable	–	–	2	2
		════	════	════	════
6.	Costs of raising donations and	legacies
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2025	Funds	2024
		£	£	£	£
	Fundraising costs	6,520	6,520	11,925	11,925
		═══════	═══════	════════	════════
7.	Expenditure on charitable activities by fund type
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2025
			£	£	£
	Charitable activities		223,125	8,656	231,781
	Support costs		13,734	–	13,734
			─────────	───────	─────────
			236,859	8,656	245,515
			═════════	═══════	═════════
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2024
			£	£	£
	Charitable activities		56,965	–	56,965
	Support costs		2,308	–	2,308
			────────	────	────────
			59,273	–	59,273
			════════	════	════════

8. Expenditure on charitable activities by activity type

	Activities
	undertaken		Total funds	Total fund
	directly	Support costs	2025	2024
	£	£	£	£
Charitable activities	231,781	12,774	244,555	58,313
Governance costs	–	960	960	960
	─────────	────────	─────────	────────
	231,781	13,734	245,515	59,273
	═════════	════════	═════════	════════

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Quality Studies

Notes to the Financial Statements (continued)

Year ended 30 September 2025

9. Analysis of support costs

	Analysis of
	support costs	Total 2025	Total 2024
	£	£	£
Premises	4,451	4,451	–
General office	1,922	1,922	–
Finance costs	(71)	(71)	95
Governance costs	960	960	960
Depreciation	6,472	6,472	1,253
	────────	────────	───────
	13,734	13,734	2,308
	════════	════════	═══════
Net income
Net income is stated after charging/(crediting):
		2025	2024
		£	£
Depreciation of tangible fixed assets		6,472 ═══════	1,253 ═══════

10. Net income

11. Independent examination fees

		Period from
	Year to	26 Apr 23 to
	30 Sep 25	30 Sep 24
	£	£
Fees payable to the independent examiner for:
Independent examination of the financial statements	960 ════	960 ════

12. Staff costs

The average head count of employees during the year was Nil (2024: Nil).

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

13. Trustee remuneration and expenses

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

11

Quality Studies

Notes to the Financial Statements (continued)

Year ended 30 September 2025

14. Tangible fixed assets

	Short
	leasehold	Fixtures and
	property	fittings	Books	Sefer Torah	Total
	£	£	£	£	£
Cost
At 1 October 2024	2,600	3,960	2,008	19,675	28,243
Additions	39,540	5,247	5,996	–	50,783
	────────	───────	───────	────────	────────
At 30 September 2025	42,140	9,207	8,004	19,675	79,026
	════════	═══════	═══════	════════	════════
Depreciation
At 1 October 2024	260	792	201	–	1,253
Charge for the year	3,831	1,841	800	–	6,472
	────────	───────	───────	────────	────────
At 30 September 2025	4,091	2,633	1,001	–	7,725
	════════	═══════	═══════	════════	════════
Carrying amount
At 30 September 2025	38,049	6,574	7,003	19,675	71,301
	════════	═══════	═══════	════════	════════
At 30 September 2024	2,340 ════════	3,168 ═══════	1,807 ═══════	19,675 ════════	26,990 ════════

15. Creditors: amounts falling due within one year

	2025	2024
	£	£
Accruals and deferred income	960	960
	════	════

16. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
					At
	At	1 Oct 2024	Income	Expenditure	30 Sep 2025
		£	£	£	£
General funds		31,660	283,241	(243,379)	71,522
		════════	═════════	═════════	════════
		At			At
	26 Apr 2023		Income	Expenditure	30 Sep 2024
		£	£	£	£
General funds		–	102,858	(71,198)	31,660
		════	═════════	════════	════════

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Quality Studies

Notes to the Financial Statements (continued)

Year ended 30 September 2025

16. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
				At
	At 1 Oct 2024	Income	Expenditure	30 Sep 2025
	£	£	£	£
Restricted Fund – NL grants	–	20,000	(8,656)	11,344
	════	════════	═══════	════════
	At			At
	26 Apr 2023	Income	Expenditure	30 Sep 2024
	£	£	£	£
Restricted Fund – NL grants	–	–	–	–
	════	════	════	════
Analysis of net assets between	funds
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2025
		£	£	£
Tangible fixed assets		71,301	–	71,301
Current assets		1,181	11,344	12,525
Creditors less than 1 year		(960)	–	(960)
		────────	────────	────────
Net assets		71,522	11,344	82,866
		════════	════════	════════
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2024
		£	£	£
Tangible fixed assets		26,990	–	26,990
Current assets		5,630	–	5,630
Creditors less than 1 year		(960)	–	(960)
		────────	────	────────
Net assets		31,660	–	31,660
		════════	════	════════

17. Analysis of net assets between funds

13