2025-03-31-accounts - Ellinson Foundation Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

REGISTERED COMPANY NUMBER: 00900755 (England and Wales)
REGISTERED CHARITY NUMBER: 252018

`REPORT OF THE TRUSTEES AND`

`FINANCIAL STATEMENTS`

FOR THE YEAR ENDED 31 MARCH 2025

`FOR`

`THE ELLINSON FOUNDATION LIMITED`

Melinek Fine LLP
Chartered Accountants
Statutory Auditors
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

THE ELLINSON FOUNDATION LIMITED

`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025`

		`Page`
`Report of the Trustees`	`1`	`to`	`4`
`Report of the Independent Auditors`	`5`	`to`	`7`
`Statement of Financial Activities`		`8`
`Balance Sheet`		`9`
`Notes to the Financial Statements`	`10`	`to`	`16`

THE ELLINSON FOUNDATION LIMITED (REGISTERED NUMBER: 00900755)

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025`

ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreport with
thefinancialstatementsofthecharityfortheyearended31March2025.Thetrusteeshaveadoptedtheprovisions of
AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparing their
accountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective 1 January 2019).

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

TheCharitywasestablishedtosupporttheactivitiesofreligiousJewishorganisationsrecognisedascharitableby English
LawbothintheUnitedKingdomandabroad,especiallythoseinthefieldofeducationandreliefofpoverty.The Trustees
regularlysupportasignificantnumberofinstitutionsandorganisationsbothintheUnitedKingdomandabroad which
meet the Charity's criteria.

TheCharityisalsosupportiveoforganisationswhicharesolelycommittedtothereliefofpoverty.Such organisations
assistneedyJewishfamiliesthroughbothfinancialandnon-financialgrantsanddistributionofgrants,donations to
organisations that fall within the objectives of the Charity.

`Public benefit`

TheTrusteesconfirmthattheyhavereferredtotheguidancecontainedintheCharityCommission'sgeneralguidance on
publicbenefitwhenreviewingtheCharity'saimsandobjectivesandinplanningfutureactivitiesandsettingthe grant
makingpolicyfortheyearbyensuringthatitdoesnotplaceunduerestrictionsonorganisationsseekinggrantsfrom the
charity.

`Grant Making Policy`

TheCharitymakesGrantsandDonationstoCollegesandInstitutionsfortheadvancementofreligionandeducation and
toInstitutionsforthereliefofpovertyinaccordancewiththeCharity'sobjectives.TherecipientInstitutionsare based
both in the United Kingdom and abroad.

InmakingGrantsandDonations,theTrusteesusetheirpersonalknowledgeoftheInstitution,its representatives,
operationalefficiencyandreputation.TheTrusteesmonitortheapplicationoftheGrantsandDonationsbymeeting with
representatives of the Institutions and obtaining information as to the utilisations of funds.

`ACHIEVEMENTS AND PERFORMANCE`

`Charitable activities`

DuringtheyeartheCharitycontinueditscharitableactivitiesinsupportofreligious,educationalandother Charitable
Institutions. Charitable donations totalled £218,500 (2024:£237,965).

`Investment performance`

TheTrusteesmonitortheCharity'sperformanceprogressagainstitsobjectivesandthefinancialperformanceof its
operationsonaregularbasis.TheCharity'sinvestmentpropertiesareincludedintheaccountsatthemost recent
valuation and are held in order to generate income to promote the Charity's objectives.

`Internal and external factors`

The Charity also received covenanted income from its subsidiary company, Ozer Properties Limited.

The deed of covenant receivable is £9,051 (2024:£9,585) for the year.

`FINANCIAL REVIEW`

`Investment policy and objectives`

UndertheMemorandumandArticlesofAssociation,theCharityhasthepowertomakeinvestmentswhichthe Trustees
consider appropriate.

TheTrusteesconsiderthereturnoninvestments,intermsofbothincomeandcapitalgrowth,giventhe challenging
market conditions the Charity operates within, to be satisfactory.

Page 1

THE ELLINSON FOUNDATION LIMITED (REGISTERED NUMBER: 00900755)

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025`

`FINANCIAL REVIEW`

`Reserves policy`

Thetrusteeshaveestablishedthelevelofreserves(thatisthosefundsthatarefreelyavailable)thatthecharityought to
have.Reservesarerequiredtobridgethegapsbetweenspendingonpropertyanddonationsandreceiving resources
through rental income and property sales.

Asat31March2025,theCharityhastotalfundsof£6,102,134(2024:£5,975,072).Thesefundsinclude £1,842,108
(2024:£1,842,108)whicharisesfromtherevaluationoftheCharity'sinvestmentpropertiesandisnotreadilyavailable for
generalpurposes.Consequently,theCharityhasreservesof£4,260,026aftermakingallowancesforreservesnot readily
available.ThesereservesincludetheFreeReservesoftheCharityandareconsideredtobeadequateandwillbe reviewed
periodically by the Trustees.

`FUTURE PLANS`

TheTrusteesplantocontinuetomakedistributionsinaccordancewiththeirgrantmakingpolicyandensurethat the
ability to generate sufficient income is maintained to achieve that end.

No change in activities is envisaged in the immediate future.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

TheEllinsonFoundationLimitedisacompanylimitedbyguaranteegovernedbyitsArticlesofAssociation.Itis registered
as a charity with the Charity Commission.

`Recruitment and appointment of new trustees`

AssetoutintheArticlesofAssociation,TheBoardofTrusteeshavethepowertoappointandremovemembers. There
aretwoclassesofmembers,namelyOrdinaryMembersandHonoraryMembers.Honorarymembersaresuch persons
that the Board may from time to time admit with their consent in writing.

`Organisational structure`

Theboardoftrustees,whichcanhaveupto25members,administersthecharity.Theboardholdsageneral meeting
once in every year, within a period of not more than fifteen months after the holding of the preceding meeting.

`Related parties`

ThecharityhasacloserelationshipwithEllinsonEstatesLimitedandwithArlesvilleEstatesLimited,companies controlled
bytheTrusteesoftheCOandEEllinsonChildren'sSettlement.UandAEllinson,directorsofthecompany,are trustees
of this settlement.

Thecharity'swhollyownedsubsidiary,OzerPropertiesLimited,wasincorporatedon31May1962,itsprincipal activity
being that of property dealing.

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Registered Company number`

00900755 (England and Wales)

`Registered Charity number`

`Registered office`

First Floor, Winston House
349 Regents Park Road
London
N3 1DH

`Trustees`

U Ellinson
A Ellinson

`Company Secretary`

U Ellinson

Page 2

THE ELLINSON FOUNDATION LIMITED (REGISTERED NUMBER: 00900755)

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025`

`REFERENCE AND ADMINISTRATIVE DETAILS Auditors`

Melinek Fine LLP
Chartered Accountants
Statutory Auditors
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

Solicitors
Bude Nathan Iwanier
1 - 2 Temple Fortune Parade
Bridge Lane
London
NW11 0QN
Bankers
HSBC Plc
110 Grey Street
Newcastle upon Tyne
NE1 6JG
Charity's operating address
ELLINSON ESTATES
POB 47859
London
NW11 0XU

`STATEMENT OF TRUSTEES' RESPONSIBILITIES`

Thetrustees(whoarealsothedirectorsofTheEllinsonFoundationLimitedforthepurposesofcompanylaw) are
responsibleforpreparingtheReportoftheTrusteesandthefinancialstatementsinaccordancewithapplicablelaw and
UnitedKingdomAccountingStandards(UnitedKingdomGenerallyAcceptedAccountingPractice)including Financial
Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Companylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyear.Underthatlaw,the trustees
haveelectedtopreparethefinancialstatementsinaccordancewithUnitedKingdomGenerallyAccepted Accounting
Practice (United Kingdom Accounting Standards and applicable law).

Undercompanylawthetrusteesmustnotapprovethefinancialstatementsunlesstheyaresatisfiedthattheygivea true
andfairviewofthestateofaffairsofthecharitablecompanyandoftheincomingresourcesandapplicationof resources,
includingtheincomeandexpenditure,ofthecharitablecompanyforthatperiod.Inpreparingthosefinancial statements,
the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyatany time
thefinancialpositionofthecharitablecompanyandtoenablethemtoensurethatthefinancialstatementscomply with
theCompaniesAct2006.Theyarealsoresponsibleforsafeguardingtheassetsofthecharitablecompanyandhence for
taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

there is no relevant audit information of which the charitable company's auditors are unaware; and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

Page 3

THE ELLINSON FOUNDATION LIMITED (REGISTERED NUMBER: 00900755)

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025`

`AUDITORS`

The auditors,  Melinek Fine LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ThisreporthasbeenpreparedinaccordancewiththespecialprovisionsofPart15oftheCompaniesAct2006relating to
small companies.

Approved by order of the board of trustees on 6 January 2026 and signed on its behalf by:

U Ellinson - Trustee

Page 4

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE ELLINSON FOUNDATION LIMITED (REGISTERED NUMBER: 00900755)

`Opinion`

WehaveauditedthefinancialstatementsofTheEllinsonFoundationLimited(the'charitablecompany')forthe year
ended31March2025whichcomprisetheStatementofFinancialActivities,theBalanceSheetandnotestothe financial
statements,includingasummaryofsignificantaccountingpolicies.Thefinancialreportingframeworkthathas been
appliedintheirpreparationisapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdom Generally
AcceptedAccountingPractice),includingFinancialReportingStandard102'TheFinancialReportingStandardapplicable in
the UK and Republic of Ireland'.

In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
have been prepared in accordance with the requirements of the Companies Act 2006.

`Basis for opinion`

WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK))andapplicablelaw. Our
responsibilitiesunderthosestandardsarefurtherdescribedintheAuditors'responsibilitiesfortheauditofthe financial
statementssectionofourreport.Weareindependentofthecharitablecompanyinaccordancewiththe ethical
requirementsthatarerelevanttoourauditofthefinancialstatementsintheUK,includingtheFRC'sEthical Standard,
andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeserequirements.Webelievethatthe audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

`Conclusions relating to going concern`

Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcernbasisofaccounting in
the preparation of the financial statements is appropriate.

Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingtoeventsor conditions
that,individuallyorcollectively,maycastsignificantdoubtonthecharitablecompany'sabilitytocontinueasa going
concern for a period of at least twelve months from when the financial statements are authorised for issue.

Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribedinthe relevant
sections of this report.

`Other information`

Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisestheinformationincludedin the
Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextent otherwise
explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand,in doing
so,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsorour knowledge
obtainedintheauditorotherwiseappearstobemateriallymisstated.Ifweidentifysuchmaterialinconsistencies or
apparentmaterialmisstatements,wearerequiredtodeterminewhetherthisgivesrisetoamaterialmisstatementin the
financialstatementsthemselves.If,basedontheworkwehaveperformed,weconcludethatthereisa material
misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard.

`Opinions on other matters prescribed by the Companies Act 2006`

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

THE ELLINSON FOUNDATION LIMITED (REGISTERED NUMBER: 00900755)

`Matters on which we are required to report by exception`

Inthelightoftheknowledgeandunderstandingofthecharitablecompanyanditsenvironmentobtainedinthecourse of
the audit, we have not identified material misstatements in the Report of the Trustees.

WehavenothingtoreportinrespectofthefollowingmatterswheretheCompaniesAct2006requiresustoreportto you
if, in our opinion:

adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

`Responsibilities of trustees`

AsexplainedmorefullyintheStatementofTrustees'Responsibilities,thetrustees(whoarealsothedirectorsof the
charitablecompanyforthepurposesofcompanylaw)areresponsibleforthepreparationofthefinancialstatements and
forbeingsatisfiedthattheygiveatrueandfairview,andforsuchinternalcontrolasthetrusteesdetermineis necessary
to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharitablecompany'sability to
continueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoing concern
basisofaccountingunlessthetrusteeseitherintendtoliquidatethecharitablecompanyortoceaseoperations,or have
no realistic alternative but to do so.

`Our responsibilities for the audit of the financial statements`

Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefree from
materialmisstatement,whetherduetofraudorerror,andtoissueaReportoftheIndependentAuditorsthat includes
ouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconducted in
accordancewithISAs(UK)willalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefrom fraud
orerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedto influence
the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities,includingfraud,areinstancesofnon-compliancewithlawsandregulations.Wedesignedprocedures in
line with our responsibilities outlined above, to detect material misstatements in respect of irregularities, including fraud.

Auditproceduresundertakeninresponsetothepotentialrisksrelatingtoirregularities(whichincludefraud and
non-compliancewithlawsandregulations)comprisedof:inquiriesofmanagementandthosechargedwith governance
astowhethertheCharitycomplieswithsuchlawsandregulations;enquirieswiththesameconcerninganyactual or
potentiallitigationorclaims;inspectionofrelevantlegalcorrespondence;reviewoftrusteesminutes;testing the
appropriatenessofentriesinthenominalledger,includingjournalentries;reviewingtransactionsaroundtheendof the
reportingperiod;andtheperformanceofanalyticalprocedurestoidentifyunexpectedmovementsinaccount balances
which may be indicative of fraud.

Noinstancesofmaterialnon-compliancewereidentified.However,thelikelihoodofdetectingirregularities, including
fraud,islimitedbytheinherentdifficultyindetectingirregularities,theeffectivenessoftheentity’scontrols,and the
nature,timingandextentoftheauditproceduresperformed.Irregularitiesthatresultfromfraudmightbe inherently
moredifficulttodetectthanirregularitiesthatresultfromerror.Asexplainedabove,thereisanunavoidablerisk that
materialmisstatementsmaynotbedetected,eventhoughtheaudithasbeenplannedandperformedinaccordance with
ISAs (UK

AfurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedontheFinancial Reporting
Council'swebsiteatwww.frc.org.uk/auditorsresponsibilities.ThisdescriptionformspartofourReportofthe Independent
Auditors.

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE ELLINSON FOUNDATION LIMITED (REGISTERED NUMBER: 00900755)

`Use of our report`

Thisreportismadesolelytothecharitablecompany'smembers,asabody,inaccordancewithChapter3ofPart16 of
theCompaniesAct2006.Ourauditworkhasbeenundertakensothatwemightstatetothecharitable company's
membersthosematterswearerequiredtostatetotheminanauditors'reportandfornootherpurpose.Tothe fullest
extentpermittedbylaw,wedonotacceptorassumeresponsibilitytoanyoneotherthanthecharitablecompanyand the
charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Aryeh Melinek (Senior Statutory Auditor)
for and on behalf of Melinek Fine LLP
Chartered Accountants
Statutory Auditors
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

6 January 2026

Page 7

THE ELLINSON FOUNDATION LIMITED

`STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025`

`Notes` `INCOME AND ENDOWMENTS FROM` `Donations and legacies` `3` `Investment income` `4` `Total` `EXPENDITURE ON` `Raising funds` `5` `Charitable activities` `6` `Donations` `Other` `Total` `Net gains/(losses) on investments` `NET INCOME` `RECONCILIATION OF FUNDS` `Total funds brought forward` `TOTAL FUNDS CARRIED FORWARD`	`2025` `Unrestricted` `funds` `£` `15,000` `382,027` `397,027` `48,036` `218,500` `3,429` `269,965` `-` `127,062` `5,975,072` `6,102,134`	`2024` `Total` `funds` `£` `96,500` `325,912` `422,412` `26,269` `237,965` `3,438` `267,672` `(17,649)` `137,091` `5,837,981` `5,975,072`

The notes form part of these financial statements

Page 8

THE ELLINSON FOUNDATION LIMITED (REGISTERED NUMBER: 00900755)

`BALANCE SHEET 31 MARCH 2025`

`Notes` `FIXED ASSETS` `Investments` `Investments` `13` `Investment property` `14` `CURRENT ASSETS` `Debtors` `15` `Cash at bank` `CREDITORS` `Amounts falling due within one year` `16` `NET CURRENT ASSETS` `TOTAL ASSETS LESS CURRENT LIABILITIES` `NET ASSETS` `FUNDS` `17` `Unrestricted funds` `TOTAL FUNDS`	`2025` `2024` `Unrestricted` `Total` `funds` `funds` `£` `£` `108` `108` `6,007,027` `5,970,000` `6,007,135` `5,970,108` `64,580` `26,310` `91,906` `31,359` `156,486` `57,669` `(61,487)` `(52,705)` `94,999` `4,964` `6,102,134` `5,975,072` `6,102,134` `5,975,072` `6,102,134` `5,975,072` `6,102,134` `5,975,072`

Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon6January2026and were
signed on its behalf by:

U Ellinson - Trustee

The notes form part of these financial statements

Page 9

THE ELLINSON FOUNDATION LIMITED

`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025`

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andthe Companies
Act2006.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,withtheexception of
investments which are included at market value, as modified by the revaluation of certain assets.

`Preparation of consolidated financial statements`

ThefinancialstatementscontaininformationaboutTheEllinsonFoundationLimitedasanindividualcompany and
donotcontainconsolidatedfinancialinformationastheparentofagroup.Thecharityisexemptunder Section
399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

`Income`

AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and
theamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.

Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedasa commitment
but not accrued as expenditure.

`Investments`

Investments in subsidiaries are shown at costs less accumulated impairment.

InvestmentsinunlistedCompanyshares,whosefairvaluescanbereliablydetermined,aremeasuredatfair value
ateachbalancesheetdate.Gainsandlossesonmeasurementarerecognisedinthestatementof financial
activitiesfortheperiod.Wheremarketvaluecannotbereliablydetermined,suchinvestmentsarestated as
historic cost less impairment.

Investmentpropertiesarecarriedatfairvaluedeterminedannuallybythetrusteesandderivedfromthe current
marketrentsandinvestmentpropertyyieldsforcomparablerealestate,adjustedifnecessaryforanydifference in
thenature,locationorconditionofthespecificproperty.Nodepreciationisprovided.Changesinvalue are
recognised in the statement of financial activities.

`Taxation`

The charity is exempt from corporation tax on its charitable activities.

`Fund accounting`

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

`Financial instruments`

TheCharityonlyentersintobasicfinancialinstrumentstransactionsthatresultintherecognitionof financial
assets and liabilities like trade and other debtors and creditors.

continued...

Page 10

THE ELLINSON FOUNDATION LIMITED

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025`

`1. ACCOUNTING POLICIES - continued`

`Financial instruments`

Debtinstruments,includingloansandotherdebtorsandcreditors,areinitiallymeasuredatpresentvalueof the
futurecashflowsandsubsequentlyatamortisedcostusingtheeffectiveinterestmethod.Debtinstruments that
arepayableorreceivablewithinoneyear,typicallytradepayablesorreceivables,aremeasuredat the
undiscountedamountofthecashorotherconsiderationexpectedtobepaidorreceived.Ifthearrangementsof a
short-terminstrumentconstituteafinancingtransaction,likethepaymentofatradedebtdeferred beyond
normalbusinesstermsorfinancedatarateofinterestthatisnotamarketrateorincaseofan out-right
short-termloannotatmarketrate,thefinancialassetismeasured,initially,atthepresentvalueofthe future
cashflowsdiscountedatamarketrateofinterestforasimilardebtinstrumentandsubsequentlyat amortised
costs

`2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY`

Thepreparationoffinancialstatementsrequiresmanagementtoexercisejudgementinapplyingthe charity's
accountingpolicies.Estimatesandassumptionsusedinthepreparationofthefinancialstatementsare reviewed
and revised as necessary.

In preparing these financial statements, the trustees has made the following judgements:

Investmentpropertiesarevaluedannuallybythetrusteeswithreferencetocurrentmarketrentsandyields for
similarproperties,inadditiontoavailableinformationinrespectofresalevaluesandpropertyspecificfactors such
aslocation,conditionoftheproperty.Thereforethevaluationsaresubjecttoadegreeofuncertainty, particularly
in periods of difficult market or economic conditions.

Thetrusteesareoftheviewthattherearenoestimatesorassumptionsthathaveasignificantriskofcausing a
material adjustment to the carrying amount of assets and liabilities.

`3. DONATIONS AND LEGACIES`

`4.`

`DONATIONS AND LEGACIES`
`Donations` `INVESTMENT INCOME` `Rents receivable` `Shares in group undertakings` `Bank interest receivable`	`2025` `£` `15,000` `2025` `£` `372,152` `9,051` `824` `382,027`	`2024` `£` `96,500` `2024` `£` `314,007` `9,585` `2,320`	`2024` `£` `96,500`
		`325,912`

continued...

Page 11

THE ELLINSON FOUNDATION LIMITED

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025`

`5. RAISING FUNDS`

`Investment management costs`

`Ground rent and service charges` `Rates and water` `Property insurance` `Light and heat` `Property repairs and maintenance` `Legal and professional fees` `Management fee` `CHARITABLE ACTIVITIES COSTS` `Donations` `GRANTS PAYABLE` `Donations` `The total grants paid to institutions during the year was as follows:` `Friends of Yeshivas Brisk` `Achisomosch` `Kupat Hair Karen Zaretsky`	`2025` `£` `650` `6,685` `4,307` `12,212` `8,711` `10,422` `5,049` `48,036` `2025` `£` `218,500` `2025` `£` `-` `218,500` `-` `218,500`	`2024` `£` `488` `2,487` `4,193` `7,877` `2,721` `5,115` `3,388` `26,269` `Grant` `funding of` `activities` `(see note` `7)` `£` `218,500`	`2024` `£` `488` `2,487` `4,193` `7,877` `2,721` `5,115` `3,388` `26,269` `Grant` `funding of` `activities` `(see note` `7)` `£` `218,500`	`2024` `£` `488` `2,487` `4,193` `7,877` `2,721` `5,115` `3,388`
				`26,269`
			`2024` `£` `237,965`
			`2024` `£` `10,000` `220,000` `7,965`
			`237,965`

`6. CHARITABLE ACTIVITIES COSTS`

`7. GRANTS PAYABLE`

`8. SUPPORT COSTS`

Other resources expended

Governance
costs
£
3,429

continued...

Page 12

THE ELLINSON FOUNDATION LIMITED

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025`

`9. NET INCOME/(EXPENDITURE)`

Net income/(expenditure) is stated after charging/(crediting):

	`2025`	`2024`
	`£`	`£`
`Auditors' remuneration`	`3,300`	`3,300`

`10. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2025norfortheyear ended
31 March 2024.

`Trustees' expenses`

There were no  trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

`11. STAFF COSTS`

No staff were employed during the period.

`12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

`INCOME AND ENDOWMENTS FROM` `Donations and legacies` `Investment income` `Total` `EXPENDITURE ON` `Raising funds` `Charitable activities` `Donations` `Other` `Total` `Net gains/(losses) on investments` `NET INCOME` `RECONCILIATION OF FUNDS` `Total funds brought forward` `TOTAL FUNDS CARRIED FORWARD`	`Unrestricted` `funds` `£` `96,500` `325,912` `422,412` `26,269` `237,965` `3,438` `267,672` `(17,649)` `137,091` `5,837,981` `5,975,072`

continued...

Page 13

THE ELLINSON FOUNDATION LIMITED

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025`

`13. FIXED ASSET INVESTMENTS`

`FIXED ASSET INVESTMENTS`
	`Shares in`
	`group`	`Unlisted`
	`undertakings`	`investments`	`Totals`
	`£`	`£`	`£`
`COST/VALUATION`
`At 1 April 2024 and 31 March 2025`	`100`	`8`	`108`
`NET BOOK VALUE`
`At 31 March 2025`	`100`	`8`	`108`
`At 31 March 2024`	`100`	`8`	`108`

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

`Ozer Properties Limited`

`Registered office:`
`Nature of business: Property dealing`
	`%`
`Class of share:`	`holding`
`Ordinary shares of £1 each`	`100`

OzerPropertiesLimitediswhollyownedbythecharityandownstradingpropertieswhichgeneraterental income.
The taxable profits of the subsidiary are gifted to the charity by way of deed of covenant.

`14.`

`INVESTMENT PROPERTY`

`COST/VALUATION` `At 1 April 2024` `Additions` `At 31 March 2025` `NET BOOK VALUE` `At 31 March 2025` `At 31 March 2024`	`£` `5,970,000` `37,027`
	`6,007,027`
	`6,007,027`
	`5,970,000`

Cost of investment properties £4,164,919 (2024:£4,127,892).

`15.`

`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

`Amounts owed by group undertakings` `Other debtors` `Prepayments and accrued income`	`2025` `£` `19,701` `44,716` `163` `64,580`	`2024` `£` `26,147` `-` `163`
		`26,310`

continued...

Page 14

THE ELLINSON FOUNDATION LIMITED

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025`

`16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

			`2025`	`2024`
			`£`	`£`
`Deferred income`			`58,187`	`49,405`
`Accrued expenses`			`3,300`	`3,300`
			`61,487`	`52,705`
`MOVEMENT IN FUNDS`
			`Net`
			`movement`	`At`
		`At 1.4.24`	`in funds`	`31.3.25`
		`£`	`£`	`£`
`Unrestricted funds`
`General fund`		`5,975,072`	`127,062`	`6,102,134`
`TOTAL FUNDS`		`5,975,072`	`127,062`	`6,102,134`
`Net movement in funds, included in the above are as follows:`
		`Incoming`	`Resources`	`Movement`
		`resources`	`expended`	`in funds`
		`£`	`£`	`£`
`Unrestricted funds`
`General fund`		`397,027`	`(269,965)`	`127,062`
`TOTAL FUNDS`		`397,027`	`(269,965)`	`127,062`
`Comparatives for movement in funds`
			`Net`
			`movement`	`At`
		`At 1.4.23`	`in funds`	`31.3.24`
		`£`	`£`	`£`
`Unrestricted funds`
`General fund`		`5,837,981`	`137,091`	`5,975,072`
`TOTAL FUNDS`		`5,837,981`	`137,091`	`5,975,072`
`Comparative net movement in funds, included in the above are as follows:`
	`Incoming`	`Resources`	`Gains and`	`Movement`
	`resources`	`expended`	`losses`	`in funds`
	`£`	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`422,412`	`(267,672)`	`(17,649)`	`137,091`
`TOTAL FUNDS`	`422,412`	`(267,672)`	`(17,649)`	`137,091`

`17. MOVEMENT IN FUNDS`

continued...

Page 15

THE ELLINSON FOUNDATION LIMITED

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025`

`18. RELATED PARTY DISCLOSURES`

Thecharitablecompanyhastakenadvantageofexemption,underthetermsofFinancialReportingStandard 102
'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland',nottodiscloserelated party
transactions with wholly owned subsidiaries within the group.

`19. LEGAL STATUS`

Thecharityisacompanylimitedbyguaranteeandhasnosharecapital.Theliabilityofeachmemberinthe event
of winding up is limited to an amount not exceeding £1.

Page 16