COMPANY REGISTRATION NUMBER: 941989 CHARITY REGISTRATION LYUMBER.. 257399 TRUSTWELL LIMrrED Company Limited by Guarantee Ung4udited Financial Sthtements For the year ended 31 March 21125 COHEN ARNOLD Chartered accountants New Burlington House 1075 Finchley Road LONDON NWII OPU
TRUSTWELL LIMITED COMPANY LIMrrED BY GUARANfEE Finaneial Statements Year ended 31 March 2025 PAGES Trustees, Annual Report (Incorporating the Director's Report) Ito3 Independent Examin¢r's Report to the Thistees Statement of Financial Activities (InGluding Income and Expenditure Account) Statement of Financial Position Notes to the Financial Stalements 7t014
TRUSTWELL LIMITED COMPANY LIMITED BY GUAR4NTEE Tru5t¢es' Annual Report ncOrpOratirtg the Director's Report) Year ended 31 March 2025 The trusiees. who are also the directors for the purwses of company law, present their report and the unaudited financial statements of the charity for the year end¢d 31 March 2025. REFERENCE AND ADMINISTRATIVE DETAILS Trustwell Limited Registered ebarity name Chllrity registratlOD llber Company registrAtiOD number 941989 Princlpal offIce 80a Darenth Road London N166ED 257399 Registered oifiee New Burlington House 1075 Finchley Road LoDdon NWII OPU The trustees Mr G Berger Mr S Berger Mrs S Grunzweig Asher Sternlicht, FCA Cohen Amold New Burlitwon House 1075 Finchley Ri)ad LONtK)N NWII OPU Independen¢ examiner STRUCTURE, GOVERNANCE AP4D MANAGEMENr The Charity is constituted as a Company limited by guaTantee. is therefore governed by its Memorandum and Articles of Association. The trustees administer the day-to-day affairs of the Charity. None of the trustees have any beneficial interest in the Charity- It is not currently the intention of the tnistees of the Charity to appoinl new trustees. Should ihe situation chang¢ in the future, the Trustees will apply suitable recnjitment trnining and induction procedures. Rtsk management The IT$tee5 plan to ¢ontinue to make distributions in acrordance with their grnnt making policy and to ensure that an appropriate level of ]uetves is maintained. The trustees have identified and reviewed Ihe major risks to which the charity is exposed, in particular those related to the operations finance of the charity. and are satisfied that Sy51ems are in pla¢e to manage those risks.
TRUSTWELL LIMITED COMPANY LIMITED BY GuARATrEE Trustees, Annual Report Oncorporating the Director's Report) It•10#¢&1 Yeydr ended 31 Mar¢h 2025 OBJECTIVES AND AcfIviTIES Th¢ charity is established to further Ihose purposes both in the United Kingdom and abroad recognised as charitable by English Law and in furtherance of the aforementioned objects. The Charity receives incorne mainly from charitable receipts under gift aid. which it utilises in the provision and distribution of grants and donations. The ¢harity's principle activity throughout the year was the provision and distribution of donalions and grants to organisalions, and no change is envisaged in the immediate future. The trustees confirni ihat Iliey have referred io the guidance contained in the Charity Commission's general guidance on public beiiefit wl)en reviewing the ch3rityi'5 aims and objectives and in planning future a¢tivities and setting the grnnt making policy for the year. Grant n)oking poliey Grants are made to charitable institutions and organisations which accord with ihe objects of the Charity. The tntee$ are approached for donations by a wide variety of charitable insliiutions operating all over England. The trustees consider all requests which they receive and make donations based on the level of funds available. ACHIEVEMENTS AND PERFORMANCE During the year the charity continued to pursue its philanthropic objects in support of educational, religious and other charitsble organisations. Income from donations and investments aggregated £161,711. Tol81 sourCeS expended were £163,432, resulting in net revenue deficit of £1,721. FIP4ANCIAL REVIEW The financial results of the Chariry'g activities for the year ended 31 March 2025 are fully reflected in the attached Financial Statements together with the Notes thereon. PLANS FOR FUTURE PERIODS The tntee$ plan to continue lo make distribthions in accordance with their grnnt making policy and to ensure that the ability to generate sufficient income is maintained to achieve that end. Reserves policy It is the policy of the charity to maintain unrestricted fllnds, which include th¢ free reserves of the h8rity, at a level which the tnjstees think appropriate, after considering the future commilments of the charity and the likely costs of the charity for the next year. At 31 March 2025 the charity had unrestricted funds aggregating £2,056,327. Investment policy The Charity has powers to make investments in accordance with its constitutional documents. The Trstees consider appropriate and judicious investm¢nts which could generate incorne and capital gtDWth in the medium lem) to enable the Charity to continue its charitable activities into the future whilst maintaining Free Reserves to enable it lo carry out its activities in Éh¢ immediate tern).
TRUSTWELL LIMITED COMPANY LIMITED BY GUARANTEE Trusttts, Annugl Report Uneorporating the Director's Report){¢Mlltt*td) Year ended 31 March 2025 SMALL COMPANY PROVISIONS This report has been prepared in &cordance with the provisions applicable to companies entitled to the small COTnpanies exemption. The trustees, annual report approved on 26 January 2026 and signed on half of the board of trustees by: MT S Berge Trustee
TRUSTWELL LIMITED COMPANY LIMITED BY GUARANfEE Independent Examiner's Report to the Trustees of Trustwell Limited Year ellded 31 Mah 2025 I retM)rt to the trustees on my exaTnination of the financial statements of Trustwell Limited ('Ihe charity,) for the year end¢d 31 March 2025. RESPONSIBILITIES AND BASIS OF REPORT As the irustees of the company (and a150 its directors for the purposes of company law) you ar¢ responsible for the preparation of the financial statemenis in accordance with the requirements of ihe G)mpanies Act 2006 Cthe 21J)6 Act,). Having satisfied Tnyself that the accounts of the cornpany are not Tequired to be audited under Part 16 of the 2006 Ari and are eligible for independent examination. I report in resrecl of my examination of the charity's a¢¢ounts as carried out under section 145 of the Charities A¢t 2011 ('the 2011 Act,). Ill carrying out my examination I have followed the Directions given by ihe Charity Commission under section 145(5)(b) of the 2011 Act. IIYDEPEf4DENT EXAMINER'S STATEMENT I have completed Jny examination. l confirm that no matters have come to my attention in conn¢¢tion with the examination giving me cause to believe- accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act. or the financial statements do not Cord wilh those records; or th¢ financial Statements do not comply wilh the accounting requiremenls of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view whi¢h is nol a matter considered a5 part of an independent examination; or the financial statement5 have not b¢en prePad in accordhnce with the methods and prI]pleS of the Statement of Recc)mmended Practice for a¢counling and pOrting by charitie5 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)- I have no concerns and have come across no other tnatters in connection with the examination to which jttention should be drawn in this in order to enable a proper undfflstanding of the accounts to be reached. Aslier ternlichl. FCA Cohen Arnold IndeFndent Examiner New Burlington House 1075 Finchl¢y Road LONDON NWII OPU £6
TRUSTWELL LIMITED COMPANY LthirTED BY GUARANfEE Statement of FinanciAI Activitles (including in¢ome expellditure account) Y¢gr ended 31 Mareh 2025 2025 Unrestricted funds TotAI funds Total funds 2024 Not¢ Income and endowments Do]Ydtions and lewi¢s Investment ItMe 161,700 161,700 Al 152275 213 Total income 161,711 161,711 152,488 Expenditure Expenditure on charitable activities Total expenditure 70 (163.432) {163,432) (155,4S4) (163.432) {A63,432) (155.454) Net (loss¢sywdill5 on inv¢stments io (15,000) {15,000) 20.IXJO Net (expenditureyincome and net movement in funds (16.721) (16,721) 17.034 Reconcilia¢lon of funds Total funds brought forwanl Tot funds carried forward 2,073,048 2,056.327 2,073,048 1056J27 2,056.014 2.073.048 The ststement of financial activities includes all gains and losses recognised in the year. All in¢ome and expenditure derive from continuing activities. Th¢ notrs pige5 7 to 14 fom port•f thest fl¢1¥1 st•temt
TRUSTWELL LIMITED COMPANY LIMITED BY GUARANTEE Statement of Finaneial Position 31 March 2025 2025 2024 r4ote Fixed Sets Investments 14 2,055,1)00 1070.(M)O CurreDt assets Cash at bank and in hand 4267 Creditors: atnounts falling due within one year Net ¢urrent a5ts 15 (¥40) (5.4(K)) lJ27 3,048 2.073.048 2,073.048 Totsl assets le&8 current liabilities 2,056J27 Net assets 2,056J27 Funds of the charity Unrestricted funds 2,056,327 2,056,327 2.073.048 2,073,048 Total charity funds 16 For the year ending 3 1 March 2025 the charity was enlitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Dir¢¢tors' responsibilities-. The members have not required the company to obtain all audit of its fmancial statements for the year in question in COrdanCe with section 476. The directOTS acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in ac¢ordan¢e with ihe provisions applicable to companies subject to the small cotnpanies, regime. These fmancial statements weTe approved by the board of trustee5 and authorlsed for issue on 26 January 2026, and are signed on behalf of the board by: Mr S Berger Trustee Tknt notrs on p4ge5 7 to 14 forrD part of these fin2Deialstatements.
TRUSTWELL LIMrrED COMPANY LIMITED BY GUARAIYTEE Notes to tbe Fin&ncial Statements Year end¢d 31 March 2025 General information The charity is a public benefjt entity and a private company limited by guarantee, registered in England and Wales and a regislered charity in Eng]and atLd Wales. The address of the registered office is New Burlington House, 1075 Finchley Road. Londo NWI I OPU. Ststsmenl of compliance These financial statements have been prepared in compliance with FRS 102, Tr Financial Reporting Standard applicabl¢ in the UK and the Republic of Ireland,. the Statement of Recommended Practice appli¢able to charities preparing their acwunts in accordance with the Financial Rewrting Standaxd applicable in the UK and Republic of Ireland (FRS 102} (Charities SORP IFRS 102)) and the Companies Act 2006. Accounting polities Basss of preparation Th¢ financial statements have been prepared on the histori] Cost basis, as modified by the revaluation of ¢ertain finan¢ial &8sets and liabilities and Investment properties me&suTed at fair Vdlue through income or expenditure. The fll)ancial sthtements are prepared in ster11T whi¢h is the fun¢tiong1 currency of the entity. GoiDg concern There are no material uncertainties about the charity's ability to conttnue. consolid81ion The charity is not required to prepare consolidated accourLts in accordance with the Charities Act 2011, a] has tsken advantage of the option Th)t to prepare ¢onsolidated financial statements contsined in Section 398 of the Companies Act 2006 on the basis that the charity and its subsidiary undertakings comprise a small gryoup. Judgements ODd key sources of utimation uncertainty The preparntion of the financia] statemenis requires manageent to make judgements. estimates and assumptions that affect the omounts reported. These estimat&s and judgements are contlDually reviewed and are based on expeTience and other factors, in¢1lIng expectations of future events that believed to be reasonable under the circutnstances. There were no significanl judgements or estimates made in the prepardtion of these fiTwici&I statrments. FuDd AccountiDg Unrestricted fund5 are available for at the discretion of the trustees to further any of the harity's purposes.
TRUSTWELL LlTrtrrED COMPANY LIM]TED BY GUARANfEE NotL8 to the Financial Statements (contiKx Year ended 31 March 2025 Accounting poll¢Aes fconrfnyed) Incoming resowrces All income is included in the statement of financial activities when entitlemeni has passed to the charity. il is probable that the economic benefits associated with the trarLsa¢iion will flow to the charity and the amount be reliably measured. The following specific p)licies are applied io particu]ar categories of income: - income from donations or grants is recognised when ther¢ is eviden¢e of entitlement to the gift Teceipt is probable and its amoum can be measured reliably. R&sourees expended ExpendAtUTe is recognised on an arual5 basis gs a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is classified under headings of the statement of rin8ncial activities to which it relates- exwiditure on charitable activities includes ail costs iUrred by a charity in widert&king activities that fijrther its charit&ble airns for the benefit of its beneficiaries, including those supwrt costs and costs relating lo the governance of lh¢ ¢lwity apportioned to charitable activities. All costs are allocat¢d to expenditse cafrgories reflecting the e of the resource. Direct costs attTibutable lo a single activity are allocated directly to that activty. Shared costs are 4)portioned between the activities they contribute to on a reasonable. justifiable and consistent basis. The following splfIC policies are applied to particular categories of expenditure. - grnnts and donations are recognised when pai(L Investfflents The investmenl in the subsidiary undertaking is initially recorded at cosl. and subsequently stated at fair value less with changes in fair valu¢ being re¢ognise through the income and expenditure accounL
TRUSTWELL LIMrrED COMPANY LILirED BY GUARANfEE Notes to the Financial Statements (t•nliKire41 Year ended 31 March 2025 Accountlng policies fe*1¢ Financial instruments A financial asset or a financial liability is recognised only when the entity become8 a paty to t contrdctual provisiorL8 of the instrutnenL Basi¢ financial instruments are initially recognised at the amount receivable or payable including any related transactiotL Costs, unless the arrangement constitutes a finarLcing tran8actLon, where it is recognIs al the present value of the futh payments discounted at a market rate of interest for 8 similar debt instrumenL Current assets and current liabilities are subsequently measured at th¢ cash or other consideration expe¢t¢d to be ptlid OT received and not discounted. Other financial instnllnents are initially recognised at fair Val and are subsequently measured at fair value, with any changes recognised in profit or Ioss. All equty instruments are assessed individually for impairment. Any reversals of impairn)ent are Tecognised 1ned1?te1y> to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carying amount would have been had the impairn)ent not previously been re¢ognised. Limited by guarnntee The Charity 15 a Company Limiled by Guarantee and has no share capital. The liability of each Memb¢r in the event of winding up is limited to £1. Donations alld legacies Unrestricted Total Funds Unr&8tricl¢d Total Funds Funds 2025 Funds 2024 Donations Donations received 161.700 161,700 152,275 152,275 Inve51ment income Unrestricted Total Funds Unrestricted Totsl Funds FuThls 2025 Funds 2024 Bank interest receivable li li 213 213
TRUSTWELL LIMrrED COMPANY LIMITED BY GUARANfEE Not&s lo the Finanelal Statements (contsn¥ed) Year ended 31 March 2025 Expenditure on cbaritsble aclivlttes by fund type Unrestricted Tot*] Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donations paid Support costs 159,890 3,542 163.432 159,890 3,542 163.432 151070 3,384 155,454 152.070 3.384 155,454 Expendlture on cbaritable actiyltles by Actfvlty type Grant fimdiDg of activities Support Costs TotAI fuDds 2025 Total fiDNI 21Y24 Donllions paid Governance costs 159,890 159090 3¥2 163A32 152,070 3,384 155.454 3.542 3,542 159.890 Analysls of grants 2025 2024 Grants to instithtlons Granis to institutions 159,890 159,890 152.070 152,070 Total grants io
TRUSTWELL LtMITED COMPANY LIMITED BY GUARANTEE Notes to the Financial Stxtements feodJwJ Year ended 31 March 2025 Anatysis of grants (conrfx4elJ All grants and donatio8 were paid to charitable institutions for the purposes of either the advancement of education, the Alleviation of poverty OT the furtherdnce of religion. The composition of donations is shown below. United Talmudical Associates Ltd Friends of Mosdos Torah Veyirah Friends of Yeshiva Daas Sholem Shott Amud Hatzdokoh TnLSt Friends of Be'er Avrohom Slonim Toldos AIK>ron Tn]st Lirnited Revach Vehazola Th]st Ezer Viznitz Foundaiion KYL Central Shul Trust Bais Hamedrdsh Ohel Yakov Ltd Yeshiva Gedoilah Torah Veyirab Limited Kahal Imrei Chaim Limited 40JOO 30,0(10 10,400 5,650 5,OW 5,OIM . 4,650 4,500 3,160 3,000 3,000 2,500 42,730 Other donations less than £2.51M) 159,890 10. N¢¢ OossesygaiDs on inYe5tmellts Unrestricted Total Funds Unrestricted Totsl Funds Funds 2025 Funds 2024 Gainsl(losses) on investments in group undertakings (15.000) (15,000) 20.000 20.000 11. Independent examintioD ftts 2025 2024 Fees payable to the independent examineT for.. Independent examination of the financial statements 2P40 2.71Jl 12. Staff tosts There were no employees during the year. 13. TrnsÉee remuneration and expenses No remuneration or other benefits from employment with the charity or a relat¢d entity were received by the trustees. No trustee expenses have been incurred. li
TRUSTWELL LIMITED COMPANY LIMrrED BY GUARANTEE Notss to the Financial Statements (cvnlljwtd) Year ended 31 March 2025 14. Investments Shares in group undertaking Fair value At l April 2024 Additions Fair value movements 2,070.IKIO (15,000) 2.1000 At 31 March 2025 Impairment A¢ l April 2024 and 31 March 2025 Carrying 2niouDt At 31 March 2025 2,055,iMK 2.070,1KN) At 31 March 2024 All investrnents shown &bove are held at valuation. The charity holds the entire share capital of Rightscope Limited (Company numkr 03012478), a company registered in England and Wales. The registered address of ihe subsidiary undertaking is New Burlington Hous4 1075 Finchley Road, NWI I OPU. The historical c05t of investnents in shar&s in group und¢rtsking is £lOO. The fair value of the sharn in the group undertaking is deterniined using the nel assets of the subsidiary undertaking. The capitsl and tEserYes and profit and loss of the subsidiaJy undertaking for which Group Account5 have not been prepared under the exemption conferred by Section 398 Companie5 Act 2006 are as follows: Aggregate C8pitsI and reserves 2025 2024 Rightscope Limited Retained profit for the year 2,055,089 2,072.793 2025 2024 Rightscope Limited {17.704) 21.581 15. Creditor5: *mounts falling due within One year 2025 2024 Accruals and deferred ]me 2940 5,400 12
TRUSTWELL LNITED COMPANY LIMITED BY GUARAKfEE Notes to the Financial StAtements (c•Klln#erf) Year ended 31 March 2025 lfi Analysls of Charitable funds Unrestrktsd funds At l April 2024 Gains and At31 losses Marcb 2025 Income Expenditure General fund5 2,073.048 161,711 (163,432) (15.000) 2,056,327 At l April 2023 Gains and At31 loss&8 March 2024 Income Expendilure General funds 1056.014 152.488 {155.454) 20.000 2,073,048 17. Anatysis of llet assets bettveen fuDds Unrestricted Total Funds Funds 2025 Inveslments Current assets Creditors less than l year 2,055.000 4.267 (2.940) 2,056.327 055,000 4267 (2,940) 2,056J17 Net assets Uvwestricted Totsl Funds Funds 2024 Investments Current assets Creditors less than l year Net asqets 2.070,000 8,088 (5.400) 2.072.688 2.070,000 8,088 (5,400) 2,072,688 I& FIDAncial instruments The catyying amount for each category of financial instrum¢nt is as follows.. 2025 2024 Fin*neial assets measured at falr value through In¢ome and expenditure Financial asset5 mSured at fair value through income a] expenditure 2,055,000 2,070,000 The fair values of financial assets measured at fair value through income and expenditure are determined using the net assets of the subsidiary undertaking. 13
TRUSTWELL LJMrrED COMPANY LIMITED BY GUARANTEE Notes to the Financial Statements {cori Year ended 31 Mareh 2025 19. Related party traD5actions tk)nations received includes amounts aggregating £76,(M)O from the subsidiary wldertaking and £82,0(Kl from companies connected with the Thistees. No conditions were attached to any of the donations. 14