Charity registration number: 1209753
124816 CLIMB C.I.O. STRATEGIC REPORT, TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 27 AUGUST 2024 TO 31 AUGUST 2025
124816 Climb C.I.O. Contents
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2—3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Statement of Financial Position | 6 |
| Statement of Cash Flows | 7 |
| Notes to the Statement of Cash Flows | 8 |
| Notes to the Financial Statements | 9—11 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Statement of Financial Activities | 12 |
124816 Climb C.I.O. Reference and Administrative Details For the Period 27 August 2024 to 31 August 2025
Gregory Roediger (appointed 27/08/2024) David Solley (appointed 27/08/2024)
Trustees Charity Number 1209753 Principal Address 100 Marylebone Road London NW1 5DX Independent Examiner Shaya Grosskopf FCA 1g Accountants Chartered Accountants Churchill House 137-139 Brent Street London NW4 4DJ
Page 1
124816 Climb C.I.O.
Trustees' Report For the Period 27 August 2024 to 31 August 2025
The trustees present their report and the financial statements for the period ended 31 August 2025.
Objectives and Activities
Aims and Objectives
The charity's aims are to advance lawful charitable purposes at the trustees' discretion including but not limited to the advancement of the Orthodox Jewish faith, the advancement of education, the relief of financial hardship and porverty, the relief of sickness, and the preservation of health. The charity primarily supports these objectives by making grants to organisations and individuals.
Significant Activities
In its first fiancial period, the charity had not commenced grant making operations at the end of the financial reporting period.
Public Benefit
The main charitable activity of the Charity is the making of grants to other institutions and individuals
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
Fundraising
The charity has no set fundriasing objectives.
Financial Review
Financial Position
During the period the charity received donations from individuals of £750,001. At the financial period end, the charity held unrestricted and total funds of £747,931, which was considered satisfactory to meet the intended grant making activities of the charity in succeeding years.
Investment Policy and Objectives
The trustees have chosen to invest surplus cash reserves in instant access interest bearing bank account. This enables the trustees to access funds when required for grant making activities and generates an investment return to be applied to the charity's objectives.
Principal Risk and Uncertainties
The trustees have identified ensuring that grants are effectively expended by recipients in furtherance of the charitable goals as a key risk. To mitigate this risk, the trustees engage closely with grant receients, and use designated donations and grant review mechanism to ensure grants are expended effectively.
Future Developments
The trustees intend to commence grant making activities in the future.
Structure, Governance and Management
Governing Document
The charity is governed by its constitution, dated 14 August 2026.
Page 2
124816 Climb C.I.O. Trustees' Report (continued) For the Period 27 August 2024 to 31 August 2025
Trustee Selection Methods
The current Trustees were appointed for a term of 3 years under the terms of the constitution Subsequently, Trustees are appointed for a period of 3 years by a resolution of the existing Trustees. In selecting individuals for appointment as new Trustees, the existing Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity.
Induction and Training of Trustees
New Trustees are provided with an induction so that they can carry out their role effectively, and are provided with a copy of the constituion and the most recent financial statements.
Other Information
Funds Held as Custodian Trustee
The charity did not held any assets as custodian trustee
The trustees' report was approved by the board of trustees and signed on its behalf by:
Gregory Roediger Trustee 12/03/2026
Page 3
124816 Climb C.I.O. Independent Examiner's Report to the Trustees of 124816 Climb C.I.O. For the Period 27 August 2024 to 31 August 2025
I report to the trustees on my examination of the accounts of 124816 Climb C.I.O. (the Trust) for the period ended 31 August 2025.
Responsibilities and Basis of Report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner's Statement
Since the Trust’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 Institute of Chartered Accountants in England and Wales, 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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and contents 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.
1g Accountants
Shaya Grosskopf FCA 12/03/2026 1g Accountants Chartered Accountants Churchill House 137-139 Brent Street London NW4 4DJ
Page 4
124816 Climb C.I.O. Statement of Financial Activities For the Period 27 August 2024 to 31 August 2025
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 3 EXPENDITURE ON: Charitable activities: 4 Administrative costs NET INCOME NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 10 |
31 August 2025 Unrestricted funds £ 750,001 |
|---|---|
| (2,070) | |
| 747,931 | |
| 747,931 - |
|
| 747,931 |
The notes on pages 8 to 11 form part of these financial statements.
Page 5
124816 Climb C.I.O. Statement of Financial Position As At 31 August 2025
| Notes CURRENT ASSETS Debtors 8 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 9 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS OF THE CHARITY Unrestricted Funds TOTAL FUNDS 10 |
31 August 2025 Unrestricted funds £ 150,000 598,501 |
|---|---|
| 748,501 (570) |
|
| 747,931 | |
| 747,931 | |
| 747,931 | |
| 747,931 | |
| 747,931 |
The financial statements were approved by the board of trustees on 12 March 2026 and were signed on its behalf by:
Gregory Roediger Trustee
The notes on pages 8 to 11 form part of these financial statements.
Page 6
124816 Climb C.I.O. Statement of Cash Flows For the Period 27 August 2024 to 31 August 2025
| Notes Cash flows from operating activities Net cash generated from operations 1 Net cash generated from operating activities Increase in cash and cash equivalents Cash and cash equivalents at beginning of period 2 Cash and cash equivalents at end of period 2 |
31 August 2025 £ 598,501 |
|---|---|
| 598,501 | |
| 598,501 - |
|
| 598,501 |
Page 7
124816 Climb C.I.O. Notes to the Statement of Cash Flows For the Period 27 August 2024 to 31 August 2025
1. Reconciliation of income to cash generated from operations
| . Reconciliation of income to cash generated from operations |
|
|---|---|
| Net income Movements in working capital: Increase in trade and other debtors Increase in trade and other creditors Net cash generated from operations |
31 August 2025 £ 747,931 (150,000) 570 |
| 598,501 |
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
| Cash at bank and in hand . Analysis of changes in net funds As at 27 August 2024 Cash flows £ £ Cash at bank and in hand - 598,501 |
31 August 2025 £ 598,501 |
|---|---|
| As at 31 August 2025 £ 598,501 |
- Analysis of changes in net funds
Page 8
124816 Climb C.I.O. Notes to the Financial Statements For the Period 27 August 2024 to 31 August 2025
1. General Information
124816 Climb C.I.O. is a charitable incorporated organisation registered with the Charity Commission, registered charity number 1209753. The principal address is 100 Marylebone Road, London, NW1 5DX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "Accounting and Reporting by Charities: 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) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011.
The charity is a Public Benefit Entity as defined by FRS 102.
2.2. Going Concern Disclosure
The trustees have not identified any material uncertainties related to events or conditions that may cast significant doubt about the charity's ability to continue as a going concern.
2.3. Incoming Resources
Donations are recognised when the Charity is entitled to the income, it is probable that the income will be received, and the amount can be quantified with reasonable accuracy.
2.4. Resources Expended
Expenditure is recognised on an accruals basis as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.
All expenditure is accounted for under the following headings:
-
Raising Funds: Costs incurred in seeking voluntary contributions and the costs of any fundraising trading activities.
-
Charitable Activities: Costs incurred in the delivery of the Charity’s activities and services for its beneficiaries. This includes both direct costs and associated support costs.
-
Support Costs: Central functions which support the Charity’s programmes but do not directly deliver them. These are allocated to charitable activities based on the proportion of costs or staff time. Governance Costs: Costs associated with the constitutional and statutory requirements of the Charity.
2.5. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.6. Period of accounts
These first year accounts are prepared from incorporation to the period end for a period slightly longer than one year, so as to allign the financial reporting date with a calendar month end.
3. Income from Donations and Legacies
| Donations and gifts Gift aid |
31 August 2025 Unrestricted funds £ 600,001 150,000 |
|---|---|
| 750,001 |
Page 9
124816 Climb C.I.O. Notes to the Financial Statements (continued) For the Period 27 August 2024 to 31 August 2025
| 4. Analysis of Expenditure Administrative costs 5. Support Costs General administration 6. Independent Examiner's Remuneration Independent examination of the financial statements 7. Average Number of Employees Average number of employees during the period was: NIL 8. Debtors Due within one year Other debtors 9. Creditors: Amounts Falling Due Within One Year Accruals and deferred income |
31 August 2025 Support costs (see note 5) £ 2,070 31 August 2025 Administrative costs £ 2,070 |
31 August 2025 Support costs (see note 5) £ 2,070 |
|---|---|---|
| 31 August 2025 £ 570 |
||
| 31 August 2025 £ 150,000 |
||
| 31 August 2025 £ 570 |
Page 10
124816 Climb C.I.O. Notes to the Financial Statements (continued) For the Period 27 August 2024 to 31 August 2025
10. Movement in Funds
| 0. Movement in Funds |
||||
|---|---|---|---|---|
| Unrestricted funds General: General unrestricted fund Total funds |
As at 27 August 2024 £ - |
Income £ 750,001 |
Expenditure £ (2,070) |
As at 31 August 2025 £ 747,931 |
| - | 750,001 | (2,070) | 747,931 |
11. Transactions with Trustees
None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current year.
No trustee expenses have been incurred.
12. Related Party Disclosures
The aggreagate anmount donated by the trustees to the charity in the period was £600,001.
Page 11
124816 Climb C.I.O. Detailed Statement of Financial Activities For the Period 27 August 2024 to 31 August 2025
| INCOME AND ENDOWMENTS FROM: Donations and legacies Donations and gifts Gift aid EXPENDITURE ON: Charitable Activities: Administrative costs Independent examiner's fees Professional fees NET INCOME |
31 August 2025 Total funds £ 600,001 150,000 |
|---|---|
| 750,001 | |
| 750,001 (570) (1,500) |
|
| (2,070) | |
| (2,070) | |
| 747,931 |
Page 12