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 ￿ll￿ber
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 GuARATr￿EE
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 tn￿tee$ 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 tn￿tee$ 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
Tr￿stees 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 Ma￿h 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 prePa￿d 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 It￿Me
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•tem￿t

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 a5￿ts
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 manage￿ent 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¢1￿lIng 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 a￿rual5 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 i￿Urred 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 expendits￿e 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 sp￿lfIC 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 LILi￿rED 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 1￿￿ned1?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 feo*dJw￿J
Year ended 31 March 2025
Anatysis of grants (conrfx4elJ
All grants and donatio￿8 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 examin*tioD 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 m￿Sured 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