COMPANY REGISTRATION NUMBER: 941989
CHARITY REGJSTRATIOP4 NUMBER: 257399
TRUSTWELL LIMITED
Company Limited by Guarantee
UDaudited FinaD¢i41 Statements
For tbe year ended
31 March 2024
COHEIY ARNOLD
Chartered accountants
New Burlington House
1075 Finchley Road
LONDON
NWI I OPU

TRUSTWELL LIMrrED
COMPANY LIMITED BY GUARANTEE
FiDaneial Statements
Year ended 31 March 2024
PAGES
Trustees, Annual Report (Incorporating the Director's Report)
Ito3
Independent Examinevs Report to the Trustees
Statement of Financial Activities (Including Income and Expenditttre
Accounl)
Statement of Financial Position
Notes to the Financial Statem¢nts
7t013

TRUSTWELL LnVllTED
COMPAIYY LIMITED BY GUARANTEE
Trustees, Annual Report (IneorporatlDg the Director's Report)
Year ended 31 Mar¢b 2024
The trustees. who are also the directors for the purposes of company law, present their report and the
unaudited financial statements of the charity for the year ended 31 March 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity Dame
Charity registration number
Company registration number 941989
Prineipal office
80a Darenth Road
London
N166ED
Trustwell Limited
257399
Registered
New Burlington House
1075 Finchley Road
London
NWII OPU
The tru8tee8
Mr G Berger
Mr S Berger
Mrs S Gninzweig
Asher Stemlicht. FCA Cohen Arnold
New Burlington House
1075 Finchley Road
LONDON
NWII OPU
Independent examiner
STRUCTURE. GOVERNANCE AJYD MANAGEMENT
The Charity is constituted as a Company limited by guardntee. and is therefore governed by its
Memorandum and Articles of Association.
The trustees administer th¢ day-to-day affairs of the Charity. None of the trustees h&ve any beneficial
interest in the Charity.
It is not currently th¢ intention of the trustees of the Charity to appoint new trusl¢¢s. Should the
siluation change in the future, the Trustees will apply suitable recrnitment trnining and induction
pnicedures.
Risk management
The trustee5 plan to continu¢ to make distributions in accordance with their grant making wlicy and to
ensure that an appropriate level of reserves is maintained. The tJust¢¢s have identified and reviewed
the major risks to which the eharity is exposed, in particular those related to the operations and finance
of the charity? and aTe satisfied that systems are in place to manage those risks.

TRUSTWELL LIMITED
COMPANY LIMITED BY GUARAiYfEE
Trustees, Annual Report (Ineorpor¥4ting the Director's Report)
Year ended 31 March 21124
OWECTIVES AND ACTIVITIES
The charity is established to further thos¢ purposes both in the United Kingdom and abroad ￿OgniSed
as clwitable by English Law and in furtherance of the aforementioned objects.
The charity receives in¢om¢ mainly from charitable receipts under gift aid, which it utilis¢s in th¢
provision and distribution of grants and donations.
The charity's principle activity throughout the year was the provision and distribution of donations and
grants to organisations, and no change is envisaged in the immediate futhre.
The ttwstees confirn) that they have ref￿r¢d to the guidance containd in the Charity Commission's
general guidance on publi¢ b¢nefit when reviewing the charity's aims and objectives and in planning
future activities and setting the grant mgkin8 p)licy for the year.
Gran¢ maktDg poli¢y
Grants are made to ¢haritsble institutions and organisations which accord with the objects of the
charity.
The trustees are approached for donations by a wide variety of charitable institutions operating all over
England. The trustees consider all requests which they receive and make donations based on the l¢v¢l
of funds available.
ACHIEVEMEIYTS AND PERFORTrL4NCE
During the year the charity continued to pursue its philanthropic objects in support of ¢du¢ational,
religious and other charitable organis&tions. Income from donations And investments aggregated
£152.488. Total resour￿$ expended were £155.454. resulting in net revenue deficit of £2,966.
FINANCIAL REVIEW
The financial results of the Charity's activities for the year ¢nd¢d 31 March 2024 are fvlly reflected in
the attached Financial Statements together with the Not¢s thereon.
PLANS FOR FUTURE PERIODS
The trustees plan to continue io make distributions in ￿cOrdanCe with their grdnt making policy and to
ensure that the ability to generate sufficient income is mr¢intain¢d to achieve that end.
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which include the free reserves of the
charity, at a level which the trustees think appropriate, after considering the futt]re commitments of the
charity and the likely costs of the charity for the next year. Ai 31 Mar¢h 2024 the charity had
unrestricted funds aggregating £2,073,048.
IDve8tment policy
Th¢ Charity has powers to make inveslments in accordance with its constitutional d(Kumenls. The
Trustees consider appmpriate and judicious investments which could generate income and capital
growth in the medium term to enable the Charity to continue its charitable activities into the future
whilst maintaining Free Reserves to enable it to carry out its activities in the immediate tenn.

TRUSTWELL LI￿llTED
COMPANY LIMITED BY GUARANTEE
Trusteesl Annuydl Report Oncorporating the Director's Report) (¢oMlwdJ
Year end¢d 31 March 2024
SMALL COMPANY PROVISIONS
This report has been prepared in ac￿rdanCe with the provisions applicable to companies entitled to
the small oimpanies exemption.
Th¢ trust¢es' annual report was approved on .
trnstees by:
and s1￿cd on behalf of the board of
Mr S Berg
Ttwste¢

TRUSTWELL LIMITED
COMPAIYY LIMITED B Y GUARANTEE
Indeptndent Examiner's Report to the Trustees of Trustwell Limited
Year ended 31 March 2024
I report to the t￿￿tee9 on my examination of the financial statements of Trustwell Limited ('the
¢harity') for the year ended 31 March 2024.
RESPONSIBILITIES AND BASIS OF REPORT
As the trustees of the company {and also ils directors for the purpos¢s of company law) you are
responsible for the preparation of the financial statements in ae¢ordan¢e with the requirements of the
Companies Act 2006 ('the 2(X)6 ACÉ,).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16
of the 2006 Act and are eligible for independent examination, I report in re$￿ct of my examination of
the charity's accounts &s carried out under section 145 of the Charities A¢1 2011 ('the 2011 Act,). In
carrying out my examination I have followed the Directions wven by the Charity CoTnmission under
Section 145(SXb) of the 2011 Act.
INDEPENDENT EXAiVUNER'S STATEMENT
I have complcted my examination. I confim that no matters have COTne to my attention in connection
with the examinAtion giving me cause to believe..
accounling records were not kept in respect of the charity as required by section 386 of the
2006 Acr. or
the financial statements do not accord with those records- or
the financial st8temenls do not comply with the a￿OUntIng requirements of s¢¢tion 396 of
the 2006 Act other than any requirernent that the accounts giye a 'true and fai￿ view which
is not a matter considered &s part of independent examination. or
the financial stalem¢nts have not been prepared in accordance with the mdhods and
principles of the Statement of Recomtnended Practice for accounting and rqx)rting by
charilies applicable to charities preparing their accounts in accordance with the Financlal
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)-
I have no cor]ceTnS and have come acr055 no other matters in connection with the examination to
which atteniion should ￿ drawn in thi5 r¢wrt in order to enable a proper understanding of the
accounts to k reached.
As
ier Stemliclit. FCA
Cohen Arnold
Indyndent Examiner
New Burlington House
1075 Finchley Road
LONDON
NWI I OPU

TRUSTWELL LIMtrED
COMPAIYY LIMITED BY GUAIL4NTEE
Statement of Financial Activities
(including income and expenditur¢ a¢¢ount)
Year end￿ 31 March 2024
2024
Unrestricted
funds Totsl funds Total funds
2023
Nots
IDeome and endowmeDts
Donations and legacies
Investment income
152,275
213
152,275
213
152,900
Total income
152,488
152,488
152,902
Expenditure
Expenditure on charitable activities
Total expenditure
73 (155.454) (155,454) (153,720)
(155,454) (155,454) {153,720)
Net 8ains on investments
io
20.000
20,000
150,000
Net income Det movement in fullds
17.034
17,034
l49,182
Reconeiliatioll of funds
Total funds brought forward
Total funds carried fornrd
2,056,014
2￿56,014
24I73,IM8
1,906,832
2,056,014
2,073.048
The statement of financial acttvities includ¢s all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Tht notes on pages 7 to 13 form pirt Df these fiD*ncial stgtements.

TRUSTWELL LIMITED
COMPANY LIMITED BY GUARANTEE
ststement of Finv4ncial Position
31 Mareb 2024
2024
2023
Note
Fixed ￿ets
InYestm¢nts
14
2070,iM)O
2,050,000
Current 8ssets
Cash a¢ bank and ID hand
8A48
10,814
Creditors: amounts falling due
within one year
Net current asse¢s
15
(5,400)
(4.800}
3048
2,073,048
6,014
2,056,014
Total *ssets less cyrreni liabilities
Net assets
2,073,048
2,056.014
Funds of the eharity
Unrestricted ￿lld$
21173,048
2,073,IM8
2,056.014
2,056.014
To¢al ¢barity funds
16
For th¢ year ending 31 Ma￿h 2024 the charity was entitled to exemption from audit under section 477
of the Companies Act 2006 relating to small companies.
Directors, r¢sponsibiliti¢s'.
The m¢mbers hav¢ not required the company to obtain an audit of its financial stalements for the
year in question in accordance wilh section 476-
The d1￿Clor$ acknowledge their responsibilities for wmplying with the requirements of the Act
with respect to accounting records and the preparation of financial statements.
These finaJ]cial statements have ixen prepord in acwrdan¢e with the provisions applicable to
companies subject to the small companies, regime.
These fiiiaiicial statements were approved by the iK)ard of trustees and authorised for issue (x)
I)..&￿. and are signed on belialf of the board by..
MrSB¢
Trustee
er
The notes p•g¢5 7 to 13 form ￿rt•f thest fingntial ststements.

TRUSTWELL LIMITED
COIVIPANY LIMITED BY GUARAI¥TEE
Notes to the Financial Statements
Year ended 31 March 2024
General infomAtion
The charity is a public benefit entity and a private company limited by guarantee, registered in
England and Wales and a registered charity in England and Wales. The address of the regist¢red
otTice is New Burlington Hous¢, 1075 Finchley Road. tAindon, NWI I OPU.
Ststsmenl of eompliance
These financial statements have been prep&red in complianee with FRS 102. 'The Financial
Reporting Standard applicabl¢ ID the UK and the Republic of Ireland,, th¢ Statement of
Recommended Practice applicable to charities preparing their accounts in accordance wiih the
Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Charities
SORP (FRS 102)) and the Companies Act 2006.
Aeeountlng pollcies
Basis of preparntioll
The finaiicial statements have been ptEpared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterlin& which is the functional currency of the entity.
Going concer
There are no material uncertainti¢s alx)ut the charity's abillty to continue.
Coll501idation
The charity is not required to prepare consolidated accounts in accordance with the Charities Act
2011. and has tsken advantage of the option not to prepare consolidated financial statements
contained in Section 398 of the Companies Act 2006 on the basis that the charity and its
subsidiary undertakings comprise a small group.
Judgements And key sourees of estimalion uncertainty
The preparation of the financial statements requires managernent to make judgements, estimates
and assumptions that affect the amounts ￿pOrted. These estimates and judgements are
ntinually reviewed and are based on experience and other fa¢tors, including expectations of
future events that are believed to be reasonable under the circumstances. There were no
significanljudgements or estimates made in the preparation of these financial ststements.
Fund accounting
Unrestricted funds ar¢ available for use at the discretion of the trnst¢es to further any of the
charity's purposes.

TRUSTWELL LIMifED
COMPAIYY LIMITED BY GUAIL4NTEE
Notes to tbe Financial Statements (th1￿1￿￿e4•
Year ended 31 March 2024
Aecounting policRes ftonÉinuedJ
Jllcoming resources
All In￿Me is included in the statement of financial activities when entitlement has passed to the
charity. it is probable that the e¢onomi¢ benefits associated with the transaction will flow to the
charity and the amount can be reliably measured. The following specific policies are applied to
particular categories of income:
income from donations or grants is recognised when there is evidence of entitlement to the gill
receipt is probable and its amount can b¢ measured reliably.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully rewv¢r¢d, and is classified und¢r headings of the stalem¢nt of
financial activities to which it relates:
exp¢nditure on charitable activiti¢s in¢lud¢s all costs Incu￿ed by a charity in undertaking
activities that further its charitable aims for the benefrt of its beneficiaries, including thos¢
support costs and costs relating to the governance of the charity apportioned to charitabl¢
activities.
All costs ar¢ allocated to expenditure ￿tegorieS reflecting the use of the resource. Dir¢ct costs
ttributsble to a single activity are allocated directly to that activity. Shared Costs are apportioned
between the activities they contribute lo on a reasonable, justifiable and consistent basis.
The following specific policies are applied to particular categories of expenditure.
- grants and donatii)ns are recognised when paid.
Investments
The investment in the subsidiary undertaking is initialty recorded at cosL and subsequently stated
at fair value less with changes ill fair value bein8 r¢¢ognise through the income and expenditure
account.

TRUSTWELL LIMtTED
COMPANY LIMITED BY GUAIL4NTEE
Iyotes to the Fiaan¢iY41 StatemeDts
Year ended 31 March 2024
Accounting policies
Finan¢ial instruments
A financial asset or a financial liability is recognised only when the entty EKcomes a paty to the
contractual provisions of the instrument.
Basic fmancial instruments ar¢ initially recognised at the amount receivable or payable including
any related transaction cosw unless the arrangement conslitutes a financing transaction, where it
is recognised at the present valu¢ of th¢ future payments discounted at a rn￿￿et rate of intsrest
for a similar debt instrument.
Current assets and current liabilities are subsequently measured at th¢ cash or other consideration
expected to k paid or received and not discounted.
Oth¢r financial instruments are initially recognised at fair value and are subsequently measured at
fair value. with any changes recognised in profrt or loss.
All equity instruments are assessed individually for impairnlent.
Any r¢versa15 of trnpairn)¢nt ar¢ reCo￿lsed immediately, to the extent that the reversal does not
r¢sult in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impaiment not previously been recognised.
Illmited by guarantee
The Charity is a Company Limited by Guarantse and has no share capital. The liability of each
Member in the event of winding up is limited to £1.
Dolla¢ions and legacies
Un￿strICted Totsl FuDd8 Unrestricted Totsl Funds
Funds
2024
Funds
2023
Donations
Donations received
152,275
152,275
152.900
152.900
Inve81ment income
Unr¢stricted Total Fund8 Unrestricted Totsl Funds
Funds
2024
Fund5
2023
Bank interest r￿e1vable
213
213

TRUSTWELL LIMITED
COMPANY LIMITED BY GUARANTEE
Notes to the Financial Statements
Year ended 31 March 2024
Expenditure on eharitsble activilies by fund type
Unr¢stri¢t¢d Total Funth Unrestricted Total Funds
Funds
2024
Funds
2023
Donations paid
Support costs
152.070
3,384
152,070
3J84
155A54
150.970
2.750
150,970
2.750
155.454
153.720
153.720
Expenditure on charitable activitiey by activity type
Grant
funding of
activiti¢s SuptK)rt costs
Total funds
2024
Total fund
2023
Donations paid
Governance costs
152.070
152,070
3J84
155,454
150,970
2.750
3J84
152.070
3J84
153.720
Analysis of gT&ttts
2024
2023
Grants to institutions
Grants to institutions
152,070
150,970
Total grants
152,070
150,970
All grants and donations weTe paid to charitable institutions for the purposes of either the
advancement of education, the alleviation of poverty or the furtherance of religion.
The composition of donations is shown klow.
Friends of Mosdos Torah Veyirah
United Talmudical Associates Ltd
J & R Charitable Trust
Kahal Chassidim Bobov
Amud Hatzdokoh Trust
Mosdos Toldos Aron Limited
Bais Hamedrash Ohel Yakov Ltd
Yeshiva Gedoilah Torah Veyirah Limited
Other donations less than £4,000
40,000
21￿20
6JOO
6,000
5JOO
5,000
4,700
4,180
59,070
152,0711
io

TRUSTWELL LIMITED
COMPANY LIMITED BY GUARANTEE
Notes lo the Financial Statements (cMdN#ed)
Yeydr ended 31 March 2024
10. Net gains on investments
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Gains on investments in group
undertakings
20,000
20.11(K
150,000
150,000
11. Illdependellt examination fees
2024
2023
Fees payable to the independent examiner for-.
Independent examination of the financial statements
2,700
2,400
12. Staff costs
There were no employees during the year.
13. Trustee remunerntion and expenses
No remuneration or other b¢n¢fits from employment with the charity or a related entity were
received by the trustees.
No trustee expenses have been incurred.
14. Investments
Shares in
gmup
undertydking
Fair value
At l April 2023
Additions
Fair value movements
2,050,OIM
20,000
At 31 Mareh 2024
2,070.1100
ImpgirmeDt
At l April 2023 and 31 Mareb 2024
CarryiDg amount
At 31 March 2024
2,070,1)00
At 31 Mawh 2023
2,050,000
All invesbnents shown above are held at valuation.

TRUSTWELL LIMtTED
COMPANY LIMITED BY GUAIL4NTEE
Notes to the Financial Statements (Cottllm
Year ended 31 Mareb 2024
14. Inve¥tments (coAtillNédJ
The charity holds the entire shar¢ ¢apital of Rightscope Limited (Company number 03012478), a
company registered in England and Wales. The registered address of the subsidiary undertaking
is New Burlington House, 1075 Finchley Road, NW I I OPU.
The historical cost of Investments in shares in group undertaking is £l(M).
The fair value of the shares in the group undertaking is det¢miin¢d using the net assets of the
subsidiary undertaking.
15. Creditor5: amounts fallillg due within one year
2024
2023
Awruals and deferred income
4.800
16. ADalysis of charitable fullds
Unrestricted funds
At
l April 2023
Gains and
At31
losses MAreh 2024
Income Expenditure
General funds
2.056.014
152,488
(155.454)
20,000
2,073,048
At
l April 2022
Gains and
At31
losses March 2023
Income Expenditure
G¢nerdl funds
1.906,832
152.902
(153.720)
Iso,000
2,056,014
12

TRUSTWELL LIMITED
COMPANY LIMITED BY GUARANTEE
Notes to the Financial Slatements fcoTrlinMedJ
Yvar ended 31 March 2024
17. Analysis of net assets between fullds
Unrestricted Total Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than l year
Net assets
2,070,IXK)
8,088
(5.400)
2,072.688
2,070,1)(10
8,088
{5,400)
2,072,688
Unrestricted Total Funds
Funds
2023
Tangible fixed assets
Current assets
Creditors less than l year
Net assets
2,050.IJ)O
10,814
{4,800)
2.056,014
2.050,000
10,814
(4,800)
2.056.014
18. Fin8ncig1 instruments
The Ca￿l￿g amount for each category of financial instrument is as follows:
2024
2023
Financial asset5 measured at fair value through income xnd expenditure
Financial assets measured at fair value through income and
expenditure
2,O70JIOO
2.050,000
The fair values of financial assets measured at fair value through income and expenditure are
detemiined usin8 the net &ssets of the subsidiary undertaking.
19. Rela¢ed party transaetions
Donations received includes amounts aggregating £72,500 from the subsidiary undertaking and
£60.500 from companies connected with the Trustees. No conditions were attached to any of the
donations.
13