REGISTERED COMPANY NUMBER: 0090075S (England and Wales) REGISTERED CHARLTY NUMBER: 252018 Réport of the Trustee$ and FInala1 Statsments for the Year Ended 31 March 2024 for TNE ELLINSON FOUNDATION LIMITED Melinek Ftne LLP Chartered Accountants StstyJtory Auditors Flrst Hoor, Winston House 349 Regents Park Roaj Londo N3 IDH
THE ELLINSON FOVNDATZON LIMITED Contents of the Financial Statements FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees I to 4 Report of the Independent Au(Iltors statement of Flnancial Activities Balance Sheet Notes to the Financial Statements 10 to 16
THE ELLIN50N FOUNDATION LTMITED {REGISTERED NUMBER: IJ0900755) Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024 The truste&s who are also dlrectors of the charfty for the purposes of the Companies Att 20061 present thelr ieport with the financlal statements of the charity for the year ended 31 March 2024. The trustees have adopted the prOvIOnS of Accountlng and Reportlng by Charitie5.' Statetnent of Recotnmended Prrtcte applicable to charitie5 preparing thelr ounts in accordance wlth the Fknanclal Rewrting Stsndard ap lcable in the UK and Republic of [relar (FRS 1021 leffectwe l January 2Q191. OBJECTIVES AND ACTIVITIES ObJectSves and alms The Charity was e5tabllshed to support the actmtles of retsglous Jewish organisations recognised as charitable by English Law both in the Unlted Kingdom and abroad, especlèlw those In the field of educatlon and relief of povety. The Trustees regularly support a signrficant number of Insbthtlons and organlsatlons both In the Unlted Klngdom and abroad which meet the Charltys criteria. The Charlty Is also supportwe of o¥ganisations which are soldy committed to the relief of povety. Such organisations sslst needy Jewlsh famllies through both financial and non-finanoal grants and dlstributlon of grants, donations to oryallisat¢ons that fall withln the Ob]tiveS of the Char4ty. Publlc beneflt The Tru5tee5 confirm that they have referred to the guidan contained in the Charity Commission's general guldance on public EEnefit when reviewing the Charlty's alms and oblectlves and in plannlng future acNvities and setting the grant makng policy for the year by ensuring that It does not place undue restrictions on organlsatlons seekng grants from the charlty. Grant Maklng PolScy The Charity makes Grants and Donations lo Cdleg& and Insknlutions for the advancement of rellglon and educati¢ and to Instiiut¢ons for the relief of poverty In accordan trAth the Charltys objettlves. The reclplent lnstitutlons are based both in the United Kingdom and abroad. In making Grants and Donations, the Trustee5 use their personal knowledge DF the InstittiOn, its rerfftsentètlves, otEratlonal efficiency and reputation.The Trustees monltor the applIon of the Grants and Donations by meeting with representatives of the Institutions and abtalning Informitlon as io the utlllsatlons of funds. ACHIEVEMENT AND PERFORMANCE Charltable activlties During the year the Charity contlnued its CharItae act5v1t5 In support of rellglous, educatbnal and other Charitsble InstitUtn5. Charitable donatK)ns totalled £237,96512023.'£287,0011. Investment performance The Tru5t&s monitor the Charlty's wformance progress against ti s objectives ènd the fEnanclal performance of operations on a regular basls.The CharlLVs Investment woperties are Included In the accounts at the mosi rent valuadon and are held in order to generate Income to promote the Charlty's objectives. Internal and extemal factors The Charfty also recelved covenanta incorne from Its subsldlary company. Ozer Properties Umlied. The deed of covenant rdVable Is £9,58512023..£11,8211 for the year. FINANCIAL REVIEW Investment pollcy and objertives Under the MeTnorandum and Articles of Assoclation, the Charity has the power to make investments whkh the Trtsaees condder approprtate. The Tiustees conslder the return on investmt$, In term of both Income and cap1 growth, gen the challenging maiket condltk)ns the Charlty operates within, to be satisfactory, Page I
THE ELUNSON FOUNDATION LIME0 {REGISTERED NUMBER: 00900755) Report of the Trustses FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Resen$ pollc¥ The trustees have establlshed the level of reseNes (that IS those funds that are freely avallable) that the tharity ought to have. Rese are reqUId to bridge the gaps behveen spending on propety and donations and rece5ving resour5 through rental Income and prowty sale As at 31 March 2D24, the Charity has total funds of £5,975,072 {2023.. E5,837,9811. These funds Include El,842,108 (2023'.£1,859,7571 whlch arises from the revaluatlon of the Charlty's Investment properties and is not readily avallable for general purposes. Consequenuy, the Charity has resee5 of £4,132,964 after making allowances for reseNes Trot read15y avallable.These reseNes include the Tree Reserves of the Charity and are consldered to be adequate and w(Jl be revlewed perlodically by the Trustees. FUTURE PLANS The Trustees plan to continue to make distrlbutk)ns In accordance with their grant making poky and SUre that the ablllty to generate sufficient income is maintained to achleve that end. No change In actkwlues Is envlsaged In the Immediate future. srRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Elllnson Foundation Limited Is a company limited by guarantee governed by Artkles of A$(latIOn. It Is regLstered as a ¢ha¥ity with the Chaity Commlsslon. Kecrultment and appointment of new trustees As *t out In the Artlcles of Assoclalion, The Board of Trustees have the rM)wer to appoint and remove members. There are two dasses of members, namely Ordinary Members and Fk)norary Members. Honorary members are such Fersons that the Board may fr(Mn tlme to tlme admlt with their consent In writing. Organisational strurture The board of trustees, which can have up to 25 rnember5, admini5ter5 the charity. The board holds a general meetlng once In every year, within a perlod of not more than fifteen months the holdlng of the precedlng meetlng. Rdated partios The char5ty has a close relationship wlth EllSnson Estates LimFted and wth Arleswlte Estates Llmf(ed, corrpanles conlrdled by the Trustees of the C O and E Elllngon Chlldren's Settlement. U and A Ellinson, directors of the company, are trustees of this settMent. The chèrivs wholly owned subsidLaryi Ozer Properties Limtted, was Incorporated on 31 May 1962, Its prlndpal artfvity being that of property dealing, REFERENCE AND ADMINIsfRATIVE DETAILS Registered Company number 00900755 (England and Wal&) RegÉstered Charity number 252018 Registered offieÈ Flrst Floor, Winston House 349 Regents Park Road London N3 IDH Trustees U Elllnson A Elllnson Company SÉcrotary U Elllnson Page 2
THE ELLINSON FOUNDATION LIMITED (REGISTERED NUMBER: 00900755) Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATfrfE DETAILS Auditors Melinek Fino LLP Chèrtered Accountants sthtory Audltors First Floor, Winston House 349 Regents Park Road London N3 IDH Soli¢itor$ Bude Nathan Iwanier 1- 2 Temple Fortune Parade Brldge Lane London NWII OQN Bankers HSBC pk 110 Grey Street Newcastk upon Tytte NEI 6JG Charity's operatlng address ELLINSON ESTATES POB 47859 London rMii oxu STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are a150 the dlrectors of The Ellinson Foundation Llmited for the purpo of company law) are responsible for preparing the Rewrt of the Trustees and th& finanoal statèments in attordance wlth applicable law and United Kingdom Accounting StandBrds {Unlted Klngdom Generally Accepted Accounting Pracvce) induding Financial Reporting Standard 102 'The Financial Reporting Stsndard appllcable In the UK and Republic of Ireland Company law requires the to prepare finanual statements for each flnanciBI year which a true and falr vlew of the stste of affairs of the charltable company and of the incoming resources and applltatlon of resources, Includlng the Income and expenditure, of the tharltable company for that perFod. In preparing those financial thtements, the trustees are requlred to selett suitable accounting poI(c5 and then apV thern consisterhtly,. obseNe the methods and prinaple5 Ill the ChaiSty SORP., make judgements and estitnates that are reasonable and pmdent. prepare the financlal stalements on the golng cOnM basES unless it is inapproprlate to PTesurne that the charitable company will contlnue In buslness. The trustees are responsib for keeplng proper accountlng records which disck)se wlth reasOnae accuiary at any me the flnanckl posltlon ol the charitable company and to enable them to ensure that the financial statements com¥ with the Companles Act 2006. They are a150 re5PDnsible for safeguarding the assets of the charitable company and hence for kEng reasonable steps for the prevention afid detectim of fraud and other Irregularltles. In gj far as the trust are awa. there Is no IElevant audit information of whlch the charStable company's audltors are unaware; and the trustees have taken all steps that thèy ought to have taken to make themselves aware of any relevant audit inforwnatian orMI to establlsh that the auditors are aware of that informauon. AUDITORS The auditors, Mellk Fine LLP. will IE proposed for re-appointrnent at the forthcomlng Annual General Neetlng. Page 3
THE ELLINSON FOUNDATION LIMITED (REGISTERED NUMBER: 00900755) Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024 Thls report has been prewred in accordance with the special prowsion5 of Part 15 of the Companies Act 2006 relating to small compènles. 2011112024 Approved by order of the board of trugtees on . and slgned on Its behalf by.. Uri Ellinson U Elllnson - Trustee Page 4
Report of the Independent Auditors to the Members of The Ellinson FoLFndation LÈmited (Registèred rtumbèr: 00900755) Opinion We have audited the financial statements of The Elllnson Foundation Lifflited (the 'ch4ritable companv) for the year ended 31 Narch 2024 whlch comprise the Statement ot Financial Actiwties, the Balance Sheet and notes to the flnanclèl statements, including a sumrnary of significant accountlng polia85. The financi31 reportino framework that has been applSed In thelr preparats.on Is appllcable law and Unlted Klngdom AcCounng Standards Iunlted Klngdom Generally A[pted Accounting Pract1), includlng Flnancial Reporting Standard 102 The Flnanclal Reportlng Standard applicable in the UK and Republk of Ireknd,, In our oplnk)n the financial statements.. glve a true and falr vlew of the stste of the charftable compamvs affalis as at 31 March 2024 and of Its Incorlllng resources and applicatlon of resources, including its Encoe and expendlture, for the year then ended. have been properly prepared In accordance with Unlted Kingdom Generally Accepted Accounting Pfficil, Includlng Flnancial Reporting Standard 102 The Financlal Reporting Standard applicable in the UK and Republic of Ireland,; and have been prepared in accordarlce with the requirements of the Companles Act 2QQ6. Ba515 for opinion We conducted our auilit in accordan th Intemational Standards on Audit4ng IUKI (ISAS {UKII and applaNe law. (Jji responsibllitles under those standards are further described In the Auditors. resnsIbIlitieS for the audit of the financlal Statements sectlon of our report. We are independent of the charitable COmnY in accordance with the ethlcal requirements that are rdevant to our audit of the financial statements In the UK, Including the FRC'S Ethlcal Standard, and we have fulfilled our other ethlcal responslbilitie5 in ac(danCe with these requirements. We belleve that the audlt evidence we have obtained is sufflclent and appropriate to provide a basis for our opinion. Conduslons relatlng to goin9 concern In audlting the flnancial statements, we have concluded that the trusts' use of the golng concttn basls of accouni¢ng In the preparatlon of the finaodal st6tements Is approprtate. Based on the work we have performed, we have not identified any material uncertainties relating to events or condltknns that, IndÉvldually or collectlvely, may cast sigrtlficant doubt on the Charitale companls abllity to continue as a wing concern for a period of at least iwelve months from when the flnanclal statements are authIsed for Issue. Our responsibilities and the responslbSlltles of the trustees with res to Ing concem are described in the relevant sectlons of thls repo other Infom1ation The trustees are responslble for the other information. The other Infomiatlon comprlses the Informatbn induded In the Annual Report, otheJ thpn the financial statements and our Report of the Independent Audltors thereon. Our oplnk)n on the financial statements does not c(wer the other informatbn and, except lo the extent otherwise explidtly stated In our report, we do not exp$5 any form of assl$ran Concluon thereon. In connection with our audlt of the financial statements, our responslbllity Is to read the other Informatlon and, dolng so, conslder whether the other Informatlon Is materlally inconslstent with the financial statements or our knowledge obtalned Sn the audit or otherwise appears to be materlally misstated. If we identify such material inconsistencies or apparent material MIlateMentS, we are requlred to determine whether this gives rise to a material misstatetnent the rinancial 514lements themselves. If, ba on the work we have performa, we conclude that there is a materfal mlsstateinent of this other informatlon, we are quired to rep(rt that fact. We have nothlng to report in this regard. Opinion5 on other matters prescribéd by the Companies Act 2006 In our opinion, based on the work undertakert in the course of the audlt.. the Informatlon glven in the Report of the Trustees for the flnanclal year fo¥ whlch the finanoal statements are prepared is consistent wlth the flnanclal sialements- and the Report of the Trvstees has IRen prepared in accordance with ap[Cae legal requlrements. Page 5
RepDrt of the Independent Auditors to the Members of The Elllnson Fovndatlon Limited (Règistered number: 00900755) Matters on which we are required to rèport by exceptlon In the light of the knowledge and understanding of the charitalAe company and irs environment 05Aainql in the course of the audit, we have Trot Identlfled tnaterial mi5Statements In the Report of the Trustees. We have nothlng to report in of the foll0vn9 mattels where the Companles Act 2006 requi us to rep)rt to you If, in our oplnlon.. adequate accounting records have not been kept or returns adequate for our audlt have not been recelved frorn branches not vlslted by us, or the financlal staternents are not In agreement wlth the accounting records and returns. or rtain dlsclosures of trustees, remuneratlon $cIfied by law are not made- or we have not receNed all the informatlon and explanations we require for ou¥ audFt,' or the trustees were not entitled to take advantsge of the Small companles exemptlon frorn the requlretnent to prepare strategic Report or In preparing the Report of the Trustee& RponsibilItIa$ of ttee$ As explalned more ful in the Statement of Trustee5' Responslbilltles, the trustees (who are also the dlrectors of the charitable company for the purwses of wmpany Eawl are spOnsible for the preparat of the linanclal statements and for being satisfied that they giv@ a true and fair view, and for such Internal control as tho trustees determine is llecesry to enabje tlie preparation of financial ststements that are free from materlal misstatement, whether due to fraud or error. In preparlng the financlal statementg, the trust ale responsible for aSIng the charitable companys abllty to contlnue as a going COnr, discbsln4, as appllcable, matters related to golng concern ond uslng the going concern basls of accounting unless the trustees either Intend to Ilquidate the charttabk company or to 8* Oat)n5, or have no realistlc alternative but to do so. Our rè$ptsnsrbilities for the audit of the financial stètÈmÈnts Our ob]'eclives are to obtsin reasonable assurance about whether the flnantsal statements as a Wha are free from material misstatement, whether due to fraud or ffror, and to iSSLte a Report of the Independent Audltors that includ our opinlon. Reasonèbk assurance Is a hlgh level of assuran, but Is not a guarantee that an audlt conducted In accordance with ISA5 IUKI wlll always detect a rnaterfal mlsstatement when it eSts. MIs5taternents can arlse from fraud or eiror and Bre considered materlal 11, indiwdually or In the aggregate, they could reasonably be expected to Influence the economK decisions of users tsken on the ba&s of these h'nanclal stateme#ts. The extent to whlch our pr(vduie5 are capaNe of detecbng irregularltles, includlng fraud is detalled 0w. IrregularFtles, Includlng fraud, are Instances of noll-compllance wlth E3ws and regulatlons. We des(gned pn)cedures In Ilne with our responsibiliues outlined atM)ve, to detect material mlsstatemersts In rect of Irregularitles, Includlng fraud. Audit prOdureS undertaken In response to the rK>tentlBI rlsks relating to Irregularitles (whlch include fraud and non-compliantr with laws and regulatbns) comprised of,. inquiries of Management and those charged with governan s to whether the Charlty complies wlth such laws and regulations,. etTrqulries with the same concerning any attual or potentlal litigation or dalms; inspeclbn of relevant legal corresponden. revlew of truste&s minut&. testing the appropriateness of entrles in the nominal ledger, Includlng journal entrles,. reviewing trdnsactlons around the end of the reporting perlod,. ènd the Performan of anawcal procdures to Fdentify unexperted movements In account balanS whKh may be Indlcatlve of fraud. No Instances of maternal non-complknce were Identlfled. However, the likellhood of detecting Irregularltles, includiTrJ fd, is liinited by the Inherent difficulty in detectlng Irregularities, the effect1vene ol the entity's controls, and the nature, Uming and extent of the audlt pradUr performed. Irregularltles that result from fiaud might be Inherently more difficult to detett than Irregularltles that result from error. As expEalned above, there 15 3n unavoldable rlsk that materfal mlsstatements may not be detected, even though the audlt has been planned and performed in accordance wlth ISAS (UK A further descllptlon of our re¥K)nsibilit$ for the audlt of the financFal statements is locatd on the Flnantial Reporting Councll's weiKlte at wknw.frc.org.uklalito&pons1bllIt. This descrlptlon form5 Part of our Report of the Independent Auditors. Page 6
Report of the Independent Auditors to the Members of The Elllnson Foundation Limited (Registered number: 00900755) USÈ of our report This report is made solely to the charltable company's members, as a body, in accordan with Chapter 3 of Part 16 of the Compatbies Act 2006. Our audit woik has been undertaken so that we mlght State to the charitable eompanvs melnbers those matters we are required to state to them In an audltors. report and for no other purpose. To the fvllest extent permitted by law, we do not accept or assume responslblllty to anyone other than the charitsble company arKI the haritsbk compally's members as a body, for our audit work, for thig report, or for the oplnlDns we ha formed. Aryeh Mellnek {Senlor Ststutory Auditor) for and on behalf of Mellfiek Flne LLP Chartered Accountants Statutory Auditors Flrst Floor, Winston House 349 Regents Park Road Londo N3 IDH Date.. Z.&../.ij ..Ztr.&.4............... Page 7
THE ELLTNSON FOUNDATION LIMrrED statement of Financial Actrviknes ncorporating an Intome and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2024 2024 Unrestricted fvnds 2023 Total funds Note5 XNCOME AND ENDOWMENTS FROM Donatlons and legacles 96,500 InveStMt Income 325,912 263,818 Total 422,412 263,818 EXPENDITURE ON Raising funds 26,269 k2,281 Charltable actlvitles Donations 237,965 287,001 oth 3,438 3,432 Total 267,672 302,714 Net galnsl{be$) on iTrvestmeftts (17,6491 NET INCOMEI(EXPENDITURE) 137,091 (38,896) RECONCILXATION OF FUNDS Ti)tsl funds broughl forward 5,837,981 5,876,877 TOTAL FUNDS CARRIED FORWARD 5,975,072 5,837,981 The notes form part of these flnonclal statements Page 8
THE ELLINSON FOUNDATION LIMITED (REGISTERED NUMBER: 00900755) Balance Sheet 31 MARCH 2024 2024 Unrestricted funds 2023 Total funds Notes FIXED ASSETS Xnvestments Investments Investment property 13 14 108 5,970,000 108 5,470,000 5,970,108 5,470,108 CURRENT ASSETS Debtors Cash at bank 15 26,310 31,359 70,797 358,563 57,669 429,360 CREDITORS Amounts falling due wSthln one year 16 {52,705) {61,487} NET CURRENT ASSETS 4,964 367,873 TOTAL ASSETS LESS CURRENT LIABILITIES 5,975,072 5,837,981 NET ASSETS 5,975,072 5,837,981 FUNDS Unrestrlcted funds 17 5,975,072 5,837,981 TOTAL FUNDS 5,975,072 5,837,981 These financial statements have been prepared in accordance wlth the provisions applicable to charftae companies subject to the small companie5 reglme. The financial statements were approved by the Board of Trustees and authorised for Issue 2011112024 and were signed on Its behalf by: on Uri Ellinson U Ellinson - Trustee The notes fomi part of these financial statement5 Page 9
THE ELLINSON FOUNDATION LIMITED Notes to the FSnJnciaS Ststements FOR THE YEAR ENDED 3X MARCH 2024 ACCOUNTING POLXCIES Basis of preparing the financlal gtstemants The financial statements of the charitable company, whlch Is a publlc benefit enUty under FRS 102, have been prepared In accordanc& with the Charfti SORP IFRS 102) 'Accountlng and Repo9 by Charltles.. Statomenl or Recommended Practlce applicable to charltles preparing thelr accounts in accordantr with the Flnanclal ReportÉng Standard applitable In the UK and Republic of Irelancf IFRS 1021 (effectlve l January 20191., Financial Reportlng Standard 102 rhe Financlal Reporting Stsndard appllcable in the UK and Repvblic of Ireland. and the Companles Art 2006. The financlal statements have been p¥epared under the historical cost Convent, wlth the exception of Investments whlch ale included at tnarket value, as modifEed by the revaluation of certain assets. Preparation of consolidated financial statements The flnancial statements contaln information abDUt The Ellinson Foundatlon Limlted as an Sndivldual company and do not contsin consolidated flnanclal Informauon as the parent of a group. The charlty Is exempt under WK>n 399{2A) of the Companies Act 2006 fiom the requirements to prepare consolidated finajclal statements. Income All income Is recogtttsed In the Statement of Financial Actlvltles once the charity has entitlement th the funds, it is obable that the Income wlll be recehed and the amount can be measured rellaty. expenditurè Llabllltles are recognlsed as expencslture as soon as there Is a legal or constructlve obllgation comrnilting the thaylty to that expendiknre, it is probable that a transfer of econom1c bcnelits will be iequlred in settkment and the amount of the olgatIon can measured relkibly. Expenditure Is accounted for on an accruals basls and has beefi cla55ified L¢nder headlngs that aggiegate all c05t related to the category. Where costs cannot be dlrectly attributed to particular headlngs they have been allocated to actiWti on a basis conSit with the use of resources. Grants offered subject to conditlons whlch have not been met at the year end date are noted as a commitsrent but not attrued as expenditure. Investments Investments In SUbdrieS are shown at costs le accumulated ImpalrmenL Investments in unllsted Cornpany shar, whose falr lUeS can be determirÈed, a measured at frdlr value at each balance sheet date. Gains and losses on measurernent a recognised in the statement of financLIl activliies for the perlod. Where market value cannot be reliauy determlned, such Investment5 are stated as htorIC cost tess impalrment. Inveslment properties are carried at falr value determlned annually by the trustees and derlved from the current arket reTrts and investment property ylelds for comparable real estate, adjusted If necewry for any dlfference In the nature, location or condltlon of the spedftc prOrty. No depreclation is proded. Changes In value aye recognised In the statemenl of financial actlvities. Taxation The charity is exemr from corporatlon lax on Its charftsble activIeS. Fund accounting Unrestrkted funds can be used In accordance wlth the charitable objecbves at the discretlon of the trusteeg. Restricted funds can only be used for partlcular striCted purposes wlthln the objects of the charlty. Restrictions arlse when specifled by the donor or when funds are ralsed for particular restrict&d purpase%. Further exOanation of the nalure and purpose of each fund hcluded in the notes to the financlal statements. Financial instruments The Charity only enter5 into basc financlal Instruments transactyons that result in the recognltlon of financk81 agsets and Siabilitles Ilke trade and other debtors ond creditors. Page 10 continved...
THE ELLINSON FOUNDATION LIMrrED Notes to the Flnancial Statements- continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- continued Flnancial instruments Debt Instrurnents, Includlng loans and other debtors and credltors, are irEitially measured at present value of the future cash flows and subseqll2ntly at amortlsed cost uslng the effeclwe interest tnethod. Debt Instruments that are payable or reTrivable wlthln one year, typicalw trade Payabl or receivables, are measured at the undiscounted arnount af the cash or other consideration expected to be pald or recePd. If the arrangements of a short-term Instrument constitute a flnanang transacliort, like the ¥ment of a trade debt deferred beyond normal buslness terms or finan at a rate of Inter&t that is not è market rate or in case of an out-right short-terrn loan not at Maet rate, the financial asset ts measured, inltially, at the pre*nt value of the future cash flows discounted at a market rate of interest for a slmllar debt instrument and subsequently at amortlsed costs CRrrIcAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY The preparatlon of fi'nanchil statements requir man3gernent to exerclse Judgement in apptying the charlty's accounung pollcles. Estimates and assumptions used in the preparation of the flnancial 5tateme¢)ts are revlewed and rSed as necessary. In Jxeparing these flnèncLIl statements, the trustees has made the following judgements.. Investment properties are valued anllually by the twstees with refer to current market ¥eTrls and wetds for ssmllar propertles, in addition to available Informatlon in respect of resale values and property speclfic factors such as location, coDditk)n ol the property. Therefore the valuations are subject to a degree of oncertalnty, particutarly in periods of difficult market or economic conditions. The tNstees are of the view that there are no estlmates or assutnptlons that have a significant rlsk of causlng material adjustment to the carying amount of assets and Ilalillties, DONATIONS AND LEGACIES 2024 2023 DOnOn5 96,500 XNVEsfMENT INCOME 2024 2023 Rents receivabte Shares in group undertakings Bank Interest recervable 314,007 9,585 2,320 250,380 11,851 1,587 325,912 263,818 Page 11 contlnued...
THE ELLINSON FOUNDATION LIMrrED Notes to the Financlal Ststèments- continued FOR THE YEAR ENDED 31 MARCH 2024 RAISING FUNDS Investment martagoment costs 2024 2023 Ground rent and SeTrry tharges Rates and water Properly insuyance Light and heat Property repalrs at7d malntenance Legal and professlonal fees Management fee 488 2,487 4,193 7,877 2,721 5,115 3,388 163 829 10,743 546 26,269 12,281 CHARABLE ACTIVThIES COSTS Grant funding of a{trlty&S (see note Lknations 237,965 GRANTS PAYABLE 2024 2023 Donatk)ns 237,965 287,001 The total grants pald tn Institutk)ns duilng the year was 85 follows.. 2024 2023 Three Pillars Frfends Df Yeshivas Brlsk Yeshivat Be[ Reem YAMF Achlsornosch Kupat Halr Karen Zaretsky VHLT Ltd 20,000 10,000 6,501 500 230,000 10,000 220,000 7,965 20,000 237,965 287,001 Page 12 contlnued...
THE ELLINSON FOUNDATION LIMITED Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024 SUPPORT COSTS Governan costs Other SoUrceS expended 3,438 NET INCOMEI(EXPENDITURE) Net incomellexpendlturel Is slated after charglngl(credltlngl'. 2024 2023 Audltors, remuneratbn 3,300 3,300 10. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remunwatltsn or other beneflts for the year ended 31 Marth 2024 nor for the year ended 31 March 2023. Trustees. expenses There were no trustees, expenses pald for the year ended 31 March 2024 nor for the year ended 3L Morth 2023. 11. STAFF COSTS No staff were employed durlng the peikjd. Iz COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrtcted funds INCOME AND ENDOWMENTS FROM Investment IrKorne 263,818 EXPENDITURE ON Ra1 funds 12,281 Charitable activities tbnatlons 287,001 Other 3,432 Total 302,714 NET INCOMEI(EXPENDITURE) {38,896} RECONCILIATION OF FUNDS Total funds broughl forward 5,876,B77 TOTAL FUNDS CARRIED FORWARD 5,837,981 Page 13 contlnued...
THE ELLINSON FOUNDATION LIMThED Notes to the Flnanclal Statements- eontlnued FOR THE YEAR ENDED 31 MARCH 2024 13. FIXED ASSET INVESTMENTS Shares In group undertaklngs Unlisted Investments Totals COSTIVALUATION At l April 2023 arKI 31 March 2024 loo NET BOOK VALUE At 31 March 2024 100 At 31 March 2023 loo The were no knvestllt assets outside the UK. The compaoy's Investments at the balance sheet date In the share capital of companles include the followlng.. Ozer Propertles Llmlted Reglstered Off1.. Nature of buslness-. prOty deallng aass of share.. Ordlnary shares ol £1 each holdlng loo Ozer Properties Llmited Is wholly owned by the charity and owns trading properties which generdte rentsl incoTne. The taxable proflts ol the subsldlary are grfteij to the charity by way deed of covenant. 14. INVESTMENT PROPERTY COSTIVALUATION At l April 2023 Additions Impairllts 5,470,000 517,649 (17,6491 At 31 March 2024 5,970,000 NEf BOOKVALUE At 31 March 2024 5,970,000 At 31 March 2023 5,470,000 Cost of Investment properties £4,127,89212023'.£3,610,243). 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Amounts owed by g¥oup undertaknTrgs Other debtors Prepayments and accrued Income 26,147 27,913 41,746 1,138 163 26,310 70,797 P4e 14 continued...
THE ELLINSON FOUNDATION LIMITED Notes to the Financial Ststements- contÉnued FOR THE YEAR ENDED 31 MARCH 2024 16. CREDrroRS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2024 2023 Deferred income Accrued expenses 49,405 3,300 58,187 3,300 52,705 61,487 17. MOVEMENT IN FUNDS Net movernent In funds At 31.3,24 At 1.4.23 Unrestrlcted funds Generèl fund 5,837,981 137,091 5,975,072 TOTAL FUNDS 5,837,981 137,091 5,975,Q72 Net movernent in funds, induded in the above are as follows.. Inc(wnlng resources Resour expended Galns and los*s Movement in funds Unrestricted funds General fund 422,412 {267,672) 117,649) 137,091 TOTAL FUNDS 422,412 (267,672) 117,649) 137,091 comparat1$ for movement in funds Net movemellt In funds At 31.3.23 At 1.4.22 Unrestrirted funds General fund 5,876,877 138,8961 5,837,981 TOTAL FUNDS 5,876,877 138,896) 5,837,9BI Comparative net movernent In funds, Induded In the above are as follows.. Incomlng resources Resources eXpded Movement in funds Unrestrirted funds General fund 263,818 1302,7141 138,8961 TOTAL FUNDS 263,818 1302,7141 138,8961 Page 15 (nntlnued...
THE ELLINSON FOUNDATION LIMITED Notes to the Financlal Statements- tontinued FOR THE YEAR ENDED 31 MARCH 2024 18. RELATED PARTY DISCLOSURES The charitable company has taken advantage of exemption, under the terms of Financlal Reporling Stsndard 102 The R'nanclal Reporung Standard applicable in the UK and Republic (rf Ireland,, not to disclose related party transactions with wholly owned subsidiaries withln the group. 19. LEGAL STATUS The charity is a company limlted by guarantee and has no share capltal. The ljablllty of each member in the event of wlndlng up Is limited to an amount not exedIng £1. Page 16