**Charity Registration No. 256946** ## **THE ANGLO JEWISH ASSOCIATION** **TRUSTEES' REPORT AND UNAUDITED ACCOUNTS** **FOR THE YEAR ENDED 30 JUNE 2025** ## **THE ANGLO JEWISH ASSOCIATION** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **Trustees** Mr M Hilsenrath (President) Ms J Collins (Deputy President) Mr M Mocatta (Treasurer) Mrs J Jebreel Mr N Miron Mr J Walker Mr M Newman Mrs C Raven **Charity number Principal address** ## 256946 c/o Goldwins Limited 75 Maygrove Road London NW6 2EG **Independent examiner** Goldwins Limited 75 Maygrove Road London NW6 2EG **Bankers** National Westminster Bank plc 1 Princes Street London EC2R 8PH **Investment advisors** Rothschild Bank (CI) Limited St Peter Port Guernsey GY1 6AX ## **THE ANGLO JEWISH ASSOCIATION** ## **CONTENTS** ||**Page**|**Page**| |---|---|---| |Trustees' report|1
|6| |Independent examiner's report|7|| |Statement of financial activities|8|| |Balance sheet|9|| |Notes to the accounts|10|16| ## **THE ANGLO JEWISH ASSOCIATION** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 30 JUNE 2025**_ The Trustees present their report and accounts for the year ended 30 June 2025. The financial statements have been prepared in accordance with 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 (FRS102 - effective 1 January 2015 - Charities SORP FRS 102). ## **Structure, governance and management** At the time of writing, the charity is in the process of converting to a charitable incorporated organisation, but currently operates under the Constitution dated 21st December 1947 and amended on 5th September 1968, 29th January 2003 and 24th February 2005, the objects of which are, broadly, the promotion of education in its widest sense in Jewish matters and the expression of a Jewish voice in furtherance thereof. The objects of the CIO will be similar to the objects of the charity. The structure of the current Association is that it is headed by a President and operates through its Executive Committee, Investment sub-Committee, Grants sub-Committee and such other committees as are required for pursuing its objectives. The structure will be maintained for the CIO. The Trustees who served during the period were: Mr M Hilsenrath (President) Ms J Collins (Deputy President) Mr M Mocatta (Treasurer) Mrs J Jebreel Mr N Miron Mr J Walker Mr M Newman Mrs C Raven The members of the Executive Committee of The Anglo Jewish Association are Trustees. Under the Constitution, the Executive Committee comprises principally: The President; The Deputy President; The Honorary Treasurer; between 4 and 8 other members appointed by the President. In compliance with its Constitution, Trustees are appointed to the Executive by recommendation of the President in consultation with his Honorary Officers. The composition of the Executive (save for the Honorary Officers) is ratified at each AGM. If there are more candidates than places the Executive shall be filled by election at the AGM. Additionally, two members may nominate an individual to become a Trustee and this nomination will be considered and voted on at the AGM. The Trustees have undertaken an examination of the major strategic, business and operational risks which the Association faces, as well as policies and practices to monitor and manage such risks. All known significant risks have been reduced to an acceptable level. These risks are monitored on an ongoing basis. 1 ## **THE ANGLO JEWISH ASSOCIATION** ## **TRUSTEES` REPORT (continued)** ## _**FOR THE YEAR ENDED 30 JUNE 2025**_ ## **Objectives and activities** At the time of writing, the charity is in the process of converting to a charitable incorporated organisation. Similar to the objects of the charity, the objects of the CIO will be: - To promote the general education of Jews and the education of other persons in Jewish matters; - To advance the Jewish religion; - To relieve poverty particularly among Jews; - To promote human rights (as set out in the Universal Declaration of Human Rights and subsequent United Nations conventions and declarations) particularly in relation to Jews by any means that is charitable under the laws of England and Wales; and - To promote racial and religious harmony for the public benefit in particular by promoting knowledge and mutual understanding of the beliefs and practices of Jews. The year for which this report covers, the charity continued its partnerships with the National Holocaust Centre and Museum (NHMC) and the human rights charity, Rene Cassin for whom the charity funded a scoping exercise with the unique offering. The Honorary Offices will meet Rene Cassin to discuss the findings and next steps. The charity sought out and considered funding proposals from a range of communal initiatives and made the following awards: - £1,000 in sponsorship to Mitzvah Day - £5,000 to Essex Football for Jewish Education - £3,925 to Spaceship Earth for colourisation of WWII films relating to the Jewish experience - £12.500 to Gateway for trauma led support initiatives for students. - £60,000 to Rene Cassin - the third and final instalment of - £14,650 to NHMC for acceleration of their short form Racism Response Unit Training **W A Wartski** . We received the total sum of £4,409 from this trust. Following the terms of the bequest, an invitation for grant applications was published. To date, none have been received. **The estate of Jane Shalom** ~~W~~ e received 20,000 as a disbursement for this estate **The estate of Dorrit Gordon** we were advised that the Charity is named as a beneficiary in the estate of Dorrit Gordon to receive a 1/13 share of the estate once all other disbursements have been made. Indicatively, the Charity might benefit from at least £50,000 as a disbursement from this estate. To date, no formal notification of disbursement of any sum has been received. **Events:** In November 2024 and in Partnership with the Jewish Quarterly, we held an exclusive and one-off lecture on Prof. Jan Grabowski, a professor of h _Whitewash: Poland and the_ Over 150 people attended the lecture, which took place at the Royal United Services Institute(RUSI) on Whitehall, with more joining online. Prof. Grabowski was introduced by Prof. Maiken Umbach, chief advisor at the National Holocaust Museum. His lecture was followed by a panel discussion chaired by Martin Winstone, Head of Education and Senior Historical Advisor to the Holocaust Educational Trust and Project Historian for the UK Holocaust Memorial Foundation with Prof Michael Fleming of the Poland University. 2 ## **THE ANGLO JEWISH ASSOCIATION** ## **TRUSTEES` REPORT (continued)** ## _**FOR THE YEAR ENDED 30 JUNE 2025**_ **The Claims Conference** negotiated its first financial agreement in 1952 with the German government to fund a program of indemnification for the material damages to Jewish individuals and to the Jewish people caused by Germany through the Holocaust. Since then it has distributed over $70 billion to more than 800,000 Holocaust victims - a small measure of justice for Jewish victims of Nazi persecution around the world. The Claims Conference continues to distribute hundreds of millions of dollars annually in direct payments from Germany to tens of thousands of Holocaust victims in 80 countries and territories. During the year covered by this report, the Claims Conference secured new and separate funding from the German research, education and documentation programme through which sponsorship for a range of educational programmes and resources can now be sought. The Anglo Jewish Association was a founding Member of The Claims Conference and has remained active Board Members throughout its history with two members of the current Executive directly involved in the work of the Claims Conference, one of whom serves as a member of the Claims Conference Leadership Council. The same representative serves as the chair of the ad-hoc UK Umbrella Group of agencies providing social welfare support to Holocaust refugees and survivors living in the United Kingdom; the other serves as Chief Executive of the Association of Jewish Refugees, **The Memorial Foundation for Jewish Culture** (MFJC) was founded in 1965 by Nahum Goldmann with reparation funds from the government of (West) Germany initially to assist with the reconstruction of Jewish cultural life around the world after the Shoah. The Foundation has exercised this mandate through the identification and support of a new generation of scholars, intellectuals, academic, writers, artists, rabbis, educators and other Jewish communal professionals to replace their earlier counterparts in Europe who were decimated by the Nazis in the Holocaust. preservation of Jewish cultural distinctiveness and enhancement of Jewish cultural life in Diaspora communities by supporting the training of competent and committed communal, cultural and professional leaders to deal with the new sociological realities and challenges confronting their communities. The Foundation is also attempting to promote Jewish connectedness globally through the successful organization of Programs in Eastern and Western Europe, South America, Australia and Southeast Asia. The mandate of the Foundation has been revised to reflect these new emphases in the Foundation's work the development of the social capital of the Jewish people, its communal, cultural, and professional leadership, and the fostering of Jewish connectedness globally, including the propagation of the Hebrew language. A member of the Executive has been an active participant at MFJC Board meetings. An AJA Trustee attends the annual MFJC Board meeting. Dr. Jerry Hochbaum, who passed away in March 2022. meeting in Strasbourg. 3 ## **THE ANGLO JEWISH ASSOCIATION** ## **TRUSTEES` REPORT (continued)** ## _**FOR THE YEAR ENDED 30 JUNE 2025**_ and education, preserving survivor testimony, artefacts, and memorial spaces to teach what happened before, during and after the Holocaust while providing places for reflection and commemoration. It delivers immersive exhibitions for adults and children, combats ignorance and denial, and actively trains people to recognise and respond to anti-Jewish hatred through initiatives such as its Racism Response Unit and the influential travelling exhibition The Vicious Circle. **René Cassin** promotes and protects the universal rights of all people, drawing on Jewish experiences and values, and campaigns for change in defined human rights areas through a combination of advocacy, policy analysis, public campaigning and education. René Cassin is connected to the Consultative Council of Jewish Organisations, a human rights non- named constituents. The charity has entered into a three year strategic partnership with Rene Cassin in 2022. 4 ## **THE ANGLO JEWISH ASSOCIATION** ## **TRUSTEES` REPORT (continued)** ## _**FOR THE YEAR ENDED 30 JUNE 2025**_ ## **Financial review** Income for the year was £36,451 excluding capital gains (year to 30.6.24: £5,345). NM Rothschild provide asset management services to the Association and the Executive maintains a total return investment strategy balancing a modest level of risk and volatility with attractive financial returns. The value of the Association's investments increased by £189,377 (2024: £123,588). Total expenditure was £133,328 (2024: £138,437). The Association has a cash management policy which maintains liquidity for a minimum of four months of average operating expenditure. The cash at bank held at 30 June 2025 amounted to £17,730 with further cash available at short notice from our investments. The Trustees closely monitor major strategic, business and operational risks which the Association faces, to manage known significant risks to an acceptable level. ## **Asset cover for funds** Note 12 sets out an analysis of the assets attributable to the various funds. These assets are sufficient to meet the charity's obligations on a fund by fund basis. to £2,061,965. 5 DoGusign Envebpe ID". 8A23BDOO-84C94cD￿BB29-S54FA252lAED THE ANGLO JEWISH ASSOCIATION TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 JUNE 2025 A resolution pioposing that Goldwins Limited be re-appointed as independent examiners was unanimously approved at the Executive meeting in April 2025. The sections of this report above entitled "ObjectNes of tt)e Charity" and Review of ActNities" sets out the charity's objectives and reports on the activity and suc￿SseS in the Period to 30 June 2025 as well as explaining the plans for the current finanaal Period. That the aims of the organisation continue to be charitable., That the aims and the wotl( done give identifiable benefits to the charitable sector and both indirectly and directly to indNiduals in need", That the benefrts are for the public, are not unreasonably restricted in any way and certainly not by ability to pay,. and That there is no detriment or hami arising from the aims or activities. On behalf of the board of Trustees 28 April 2026 5kned by". Dty¢uSlyntdW. FPA19937nAththd7 Mr M Hilsenrath IPresidenti ' da ITrea8urerl oca DoGusign Envebpe ID". 8A23BDOO-84C94cD￿BB29-S54FA252lAED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ANGLO JEWISH ASSOCIATION I report to the tharity trustee5 on my examination of the accounts of the Anglo Jewish A5sociab"on for the year ended 30 June 2025. Re¥pon8ibilitie$ and basis of report As the ch8rity trustees of the Trust you are responsible for the preparation of the 8￿OUnts in 8ccoid8nce with the requirements of the Charities Act 20111'the Act'l. I report in iespect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out rny examination I have followed all the applicable Directions given by Ihe Charity Cornrnission under section 14515llbl of the Act. Independent examiner's ststement I have cornpleted my examination. I confirm that no material rnatters 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 resped of the Trust as requir￿ by section 130 of the Act., or the accounts do not accord with those records., 01 the accounts do not comply with the applicable requirements conceming the fomi and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other th8n any requirement that the 8 counts give a 'true and fair view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to which attents'on should be drawn in this report to enable a pioper understanding of the accounts to be reached. 28 April 2026 Anthony Epton BA FCA CTA Goldwins Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG DoGusign Envebpe ID". 8A23BDOO-84C94CDA_BB29-654FA2521AED THE ANGLO-JEWISH ASSOCIATION Statement of financial activities (incorporating an income and expenditure account) For the year ended 30 June 2025 2025 2024 Unrestricted Endowment Funds Funds Totsl Total Note Income from: Donations and legacies Charitable activities.. education Investment income 25,144 1,638 25,144 1,638 9,669 1,878 9,669 3,467 Total income 26,782 9,669 36,451 5,345 Expenditure on: Raising funds Charitable activities.. education 98 95,530 98 133,230 1,752 136,685 37,700 Total expenditure 37,700 95,628 133,328 138,437 Net income I (expenditure) before net (losses) I gains on investments {10,918) 185,9591 196,8771 1133,0921 Net Ilosses) / gains on investments io 18,938 170,439 189,377 123,588 Net loutgoingl / incoming for the year 8,020 84,480 92,500 19,5041 Reconciliation of funds: Total funds brought forward 198,450 1,771,015 1,969,465 1,978,969 Total funds carried fonvard 206,470 1,855,495 2,061,965 1,969,465 All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements. DoGusign Envebpe ID". 8A23BDOO-84C94cD￿BB29-S54FA252lAED THE ANGL0￿EWlSH ASSOCIATION Balance sheet For the year ended 30 June 2025 2025 2025 2024 2024 Note Fixed assets: Investments 10 2.047.391 2.047,391 1,962,791 1,962,791 Current assets: Debtor Cash at bank and in hand 17.977 17.977 10,077 10,077 Llabllltles: Creditors.. amounts falling due within one year 11 13,4031 13,4031 Net current assets 14,574 6,674 Total net assets 2.061.965 1,969,465 Capital funds Endowment funds 13 1.855,495 1,771,015 Income funds Restricted funds Unrestricted funds.. General funds Total unrestricted funds 14 206.470 198,450 206,470 198,450 Total funds 2.061.965 1,969,465 Approved by the trustees on and signed on their behalf by.. 28 April 2026 5kned ty. Èhcsw C2aa83F8&37416. F9A19?.17nA￿A￿PA Mr M Hilsenrath (President) Mr M Mocatta (Treasurer) The attached notes form part of the financial statements. DoGusign Envebpe ID". 8A23BDOO-84C94CDA_BB29-654FA2521AED THE ANGLO-JEWISH ASSOCIATION Not•s to thè flnanclal statèmènts For the year ended 30 June 2025 1 A¢couniing pollcleg al B•sls of proporatlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparinE their accounts in accordance with the Financi31 Reporting Strdndard applicable in the UK and Republic of Ireland IFRS 102 effective ljanuary 20151- ICharitie5 SORP FRS 1021. The charity ffleets the definition of 3 public benefit entity under FRS 102. A55ets and liabilitie5 are initially recognised at historic31 cost or transaction value unless otherwise st3ted in the relevant 3ccounting policy or note. bl R•¢on¢lllaiioth wlth pr6vlou8ly G8n•rally Ac¢oPt8d Actountlng Prattl¢• IGAAPI In prÈparin8 the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102. tl Going conctrrn The trustees consider that there are no materi31 uncertainties about Ihe charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reportine d3te that h3ve a significant risk of causin8 a materi31 adju5tmentto the carrying atnount5 of 355ets and liabilitie5 Within the next reporting period. dl In¢om8 Income Is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable thatthe income will be received and that the amount can be measured reliablv. Income from government and other grants, whether'capital. grants or'revenue, grants, is recoÈnised when the charity has entitlement to the fund5, any performance conditlOn5 attached to the 8rants have been rnet, it 15 probèble that the income will be received and the amount can be measured reliably and is not deferred. Income received in adv3nce for the provision of specified service is deferred until the criteria for income recognition are meL el Donation5 of gifts, services and facilitie5 Donated professional services and donated facilitie5 are recognised as income when rhe chariry has control over rhe item or received the service. any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item ig probable and that Èconomic benefit can be measured reliably. In 3ctord3nce with the Charities SORP IFRS 1021. volunteer time is not retognised so refer to the trustees, Ènnu31 reportfor rnore information about their contribution. On receipt, donated gifts, profe95ional services and donated facilities are recogni5ed on the ba515 of the value of the gift to the charity which Is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefir on the open mèrket. è correspondlng amount Is then recognlsed in expenditure In the period of recelpt. Intore8t rg¢0ivab Interest on funds held on deposit is Included when receivable and the amount can be measured reliably by the charlty.. thls Is normally upon notificètion of thÈ interèst paid trr payable by the bank. 91 Fund accounting Unregiricred fund5 are available to spend on 3ctivitie5 rhai further any of the purp05e5 of ch?riiy. Designared fund5 are unrestricted funds of the charity which the trustees have decided at their discretion ro set aside to use for a specific purpose. Resiricted funds are donations whlch the donor has speclfied are to be solely used for p3rtlcular areas of the charit¢s work or for specific projects being undertaken by the charity. Permanent endowment funds are subject to specific condltions by donors th3t the c3pit31 must be mèlntained by the chèrity. Capital that can be converted into income per thÈ Trust deed 15 shown within ÈxpendablÈ endowments. io DoGusign Envebpe ID". 8A23BDOO-84C94CDA_BB29-654FA2521AED THE ANGLO-JEWISH ASSOCIATION Not•s to thè flnanclal statèmènts For the year ended 30 June 2025 l Accounting policios Icontinuedl hl Expenditure and irrecoverablo VAT Expenditure Is recognSsed once there Ss a legal or constructfve obligètion to make a pèymentto a thlrd party, it is probable that settlement will be required and the amount of the obli8ation can be measured reliably. Expenditure is classified under the followin8 attivity headin85'. • Cost5 of raising funds cofflprise of trading cost5 and the costs incurred by the charity in inducing third parties to m3ke voluntary contribution5 to it, a5 well as the cosr of any activities with a fundraising purpose. Expenditu￿ on charitable attivities includes the costs of deliverin8 education31 activities undertaken to further the purposes of the charity and their 3550ciated 5UPPOrtC05ts. other expenditure represents those items not f311ing into any other heading. Irrecoverable VAT is charged 35 3 Cost against the 3Ctivity forwhich the expenditure was incurred. 11 ￿locatIOn of support co￿5 Support C0S15 are rhose function5 that assist the work of the charity but do not directly undertake charitable activities. Supporr costs Include back office costs. finance, personnel, payroll 3nd governance costs which support the ch3rity and its and activities. These costs hève been allocated between cost of raisin8 funds and expenditure on charitable attivities. In addition, a relevant proportion of support Costs ha5 been rechar8ed to the various Endowtnent Funds, to reflect the adrninistration of those charitie5.The bases on which support Costs have been allocated 3re set out in note 5. 11 Listed investments Investments ère a form of baslc financlal instrument and are initially recognlsed at their trans3ctlon value and subsequently measured at their fair value as 3t the balance sheet date usin8 the closin8 riuoted market price. Any ch3n8e in fair value will be recognised in the kl Cash at bank and in hand Cash at bank and cash In hènd includes cash ènd short term highly liquid investments with a short maturity of three months or less from the date of acouisition or opening of the depogit or similar account. 11 Creditors and provisions Creditors ènd provisions are recognised where the charity has è present obligation resulting from a past event that will probably result In the transfer of funds to a third party and the amount due to setue the obli8ation can be measured or estimated reliably. Creditors and provisions a￿ normally recogni5ed at their5ettlement amount after allowin8 for any trade di5count5 due. li DoGusign Envebpe ID". 8A23BDOO-84C94CDA_BB29-654FA2521AED THE ANGL0￿E￿1SH ASSOCIATION Notes to the financial statements For the year ended 30 June 2025 2 Detailed comparatives for the statement of financial activities (Prior yearl 2024 2024 2024 Unrestricted Restricted Endowment 2024 Total Income from: Oonations and legacies Charitable activities.. education Investments 878 1.000 1,878 3,467 3,467 Total ineomè 878 4,467 5,345 Ex￿n￿ltur• on: Investment rnanagement tosts Charitable attivitie5.' education 1,752 130,550 1,752 136,685 6,135 Total expenditure 6,135 132,302 138,437 Net income l expenditure before gains I Ilossesl on investments 15,2571 1127,8351 1133,092} Net gains / Ilossesl on investments Net income l expendit4Jre 12,359 111,229 123,588 7,102 116,6061 19,5041 Total funds brought forward 191,348 1,787,621 1.978.969 Total fvnds carried forward 198,450 1,771.015 1.969,465 3 Income from donations and legacies 2025 2024 Unrestricted Restricted Endowment Total Total Donations Legacies 5,144 20,000 25,144 5,144 20,000 878 1,000 1,878 25,144 4 Incom• from charitablè aetiviti•s 2025 Total 2024 Total Unrestricted Restricted Endowment Event incorne 1,638 1.638 1,638 1,638 5 In¢ome from investments 2025 Total 2024 Total Unrestricted Restricted Endowment Investment income 9,669 9,669 3,467 9,669 9,669 3,467 12 DoGusign Envebpe ID". 8A23BDOO-84C94CDA_BB29-654FA2521AED THE ANGL0￿EWlSH ASSOCIATION Notes to the financial statements For the year ended 30 June 2025 6 Analysis of expenditure Cost of raising funds Support costs Education 2025 Total 2024 Total Investment management costs JP Morgan- Beneficiary Memorial Foundation 98 98 144 1,608 Charitable Gr3nt5 pay3ble Rene Cassin Prograrnme Scholarship & others rant5'. 16,605 60,000 18,925 16,605 60,CN)O 18,925 13,800 60,000 56,750 Marketing, website and IT Event advertising Independent examiner's fees Legal and professional fees Trustee expenses Bank charges IGain5111055e5 on exchange varitsus Adminstration 1,180 11,246 2,160 10,367 2,688 1.180 11.246 2.160 10,367 2.688 740 2,160 2,235 104 191 905 10,047 10.047 Total expenditure 2025 98 95,530 37.700 133.328 138.437 Total expenditure 2024 1,752 130,550 6,135 138,437 Of the total expenditure, £37,700 was unrestricted12024'. £6.1351 and £95,628 was endowment12024.' £132,3021. The grants were made to individua15 for their direct benefit and adrninistered for the via our partner5 for educational purposes. Analysis of expenditurè Iprioryearl Cost of raising funds Support costs Education 2024 Total Investment management costs JP Morgan- Beneficiary Memorial Foundation 144 1,608 144 1,608 Charitable rant5'. Gr3nts pay3ble Rene Cassin Programme Scholarship 13,800 60,000 56,750 13,800 60,000 56,750 Marketing, website and IT Independent examiner's fees Legal and professional fees Travelling IGainsl/losses on exchange various Adminstration 740 2,160 2,235 104 740 2,160 2,235 104 905 905 Total expenditure 2024 1,752 130,550 6,135 138,437 13 DoGusign Envebpe ID". 8A23BDOO-84C94CDA_BB29-654FA2521AED THE ANGLO-JEWISH ASSOCIATION Notes to the financial statements For the year ended 30 June 2025 Net income / (expenditure) for the year This is stated after charging / Icreditingl.. 2025 2024 Independent examination (excluding VATI 1,800 1,800 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel The charity did not employ any staff during the year. The charity trustees were not paid and did not receive any benefits from employment with the Trust in the year12024.' Nill. The trustees were reimbursed expenses during the year of £2,68812024: £1041. Taxation The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. 10 Investments 2025 2024 Investments at falr value: Investment funds 2.017,061 1,959,571 Movements Market value at the start of the year Additions at cost Disposals at carryinE value Net Eain / Ilossl on revaluation 1.959,571 1,955,941 3,211 217 1135,0981 1120,1451 189,377 123.558 Market value at the end of the year Money market 2,017,061 30,330 1,959,571 3,220 2,047,391 1,962,791 The portfolios constituted of the following holdings.. % of assets % of assets Multi-Asset & Hybrid Instruments- UK Hedge Funds - Diversifiers Multi-Asset & Hybrid Instruments- North America Money Market 72.00% 0.49% 26.03% 1.48% 72.46Yo 0.48% 26.91% 0.16% 14 DoGusign Envebpe ID". 8A23BDOO-84C94CDA_BB29-654FA2521AED THE ANGLO-JEWISH ASSOCIATION Notes to the financial statements For the year ended 30 June 2025 11 Creditors: amounts falling due within one year 2025 2024 Accruals 3,403 3,403 3,403 3,403 12 Analysis of net assets between funds Unrestricted Restricted Endowment Total funds Investments 191,896 14,574 1,855,495 2,047,391 14,574 Net current assets Net assets at the end of the year 206,470 1,855,495 2,061,965 Analysis of net assets between funds Iprior yearl Unrestricted Restricted Endowment Total funds Investments Net current assets 191,776 6,674 1,771,015 1,962,791 6,674 Net assets at the end of the year 198,450 1,771,015 1,969,465 15 DoGusign Envebpe ID". 8A23BDOO-84C94CDA_BB29-654FA2521AED THE ANGLO-JEWISH ASSOCIATION Notes to the financial statements For the year ended 30 June 2025 13. Movements in endowment funds Incoming resources & gains OutgoinE resources & losses At the start of the year At the end of the year Transfers Totsl endowmentfunds: Jewish Student Trust 1.771.015 180.108 195.6281 1.855.495 The Jewish Student Trust supports British Jewish students in higher education with financial need in the United Kingdom. Movements in endowment funds Iprior yearl Incoming Outgoing resources & resources & gains losses At the start of the year At the end of the year Transfers Total endowment funds: Jewish Student Trust 1,787,621 115,696 1132,3021 1,771,015 14. Movements in restricted and unrestricted funds Incoming Outgoing resources & resources & gains losses At the start of the year At the end of the year Transfers Unrestricted fund5: General funds 198,450 45,720 137,7001 206,470 Totsl unrestrirted funds 198,450 45,720 137,7001 206,470 Movements in restricted and unrestricted funds Iprior yearl Incoming resources & gains OutgoinE resources & losses At the start of the year At the end of the year Transfers Unrestricted funds: General funds 191,348 13.237 16,1351 198,450 Total unrestricted funds 191,348 13,237 16,1351 198,450 15 Related party transactions There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties. 16