Charlty reglstratlon number 264186 (England and Wales)
THE HOLDEN CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

THE HOLDEN CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Tru8tee8
Mr M Lopian
Mr B Z Portnoy
Mr D A Lowan
(Appointed 18 September 2024)
Ch*rlty numb•r
284185
Prfnclpal addr•¥¥
1 Park Lanè
Salford
M7 4HT
Ind•pond•nt examlnor
Lopian Gross Bamell & Co
1st Floer, CIoi81er House
Riverside
New Bailey Street
Manchest•r
M3 5FS

THE HOLDEN CHARITABLE TRUST
CONTENTS
Paga
TnJ8te8s' report
Independent ox8min•r's report
statomont of financial adlvltl•8
Balance shget
Notej lo the flnancbal 8t4temenl8
8-12

THE HOLDEN CHARITABLE TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 5APRIL 2024
The trustees present their annual report and financi815tatements for tho year ended 5 April 2024.
The accounts have been prepared in accordance with the accounting policies set out In note 1 to the a￿D￿nts
and comply wlh the charity's governing document, the Charilies Act 2011 and 'Accounling and Reporting by
Charitles.. Statement of Recommended Pracllce applicable to charities preparing their accounts in accordance
wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. las amended for
accounting periods commencing from 1 January 20161
ObJ8ctlvè# and actlvltle8
The Holdan Charitable Trust exi518 lo receive and distribute charitable donation5 to worthy e8uses prSmarily
within the Jewsh communty. The trustees confirm that they have referred lo guidance conlained in the
Commlssion8' General Guidance on public benefit when Tevlewing the Irusl's aims and objectsves and in planning
future actlvitles and setting the grant making policy for the year.
The charity's man income is generated from investment Income and donations under the gift aid scheme.. most
of thi8 income is distributed lo religlous, educational and similar charities.
The oblecUveB of the trust for the year ara to maintsln a stable flow of donationj going to worthy causes In the
Jewlsh community.
The tru8tee8 h8va paid due regard lo guidance issued by the Charity Comm188ion in docidlng what activille8 the
charity Should undertake.
The Irustoes have identified a number of Orthodox JeS￿$h charitbes which prole89 and leach the principles of
tradltlonal Judlasm or which carry out activlties which advance rgligion in accordance with the Orthodox Jewlgh
faith. Grants are given on application to the ITU51ees by these or similar charits'es.
Achl¢v•monts and p•rform•nce
During the year the Irusl m8de donations to a wde varlely of ¢harllles within the Jewish communlty. The charity
belleves It has achieved its aims in delivering publlc benefit by successfully dlslribuling a glgnificanl proportion of
115 Incoming reserves lo worthy causes. Rornaining reserves in bank and deposit accounts ar? required lo be
ovailable lo go towards future investment purposes.
At Ih? year end the Irusf s investments werè v8lued at £810,245 and retumed income of £51,142.
Flnanclal revl•w
Ourlng the year the charity received donatlon income of £5,50Q, inve$trnenl income of £51,142 and other income
of £400. This gave the charity a total income of £57.062 and £657,400 was dlslrlbuled lo other charities and
good causes. After olhei charitable expendllure in the year and gains followng the revaluation of investments,
there was an decrease in the charity's reserves of £589,254.
11 Is the policy of the charity lo hold reserves sufflcienl to maintain regular grants at previous years levels. As the
charity Is presenlly largely reliant on donations which a￿ variable, the Iruslees feel il would be Prudent lo
mainlaln reserves at suth a level that would enable Ihe tharity to generate 115 own in￿rne lo meet this aim.
At the balance sheet dale the Charity had unrestricted reserves available to il of £260.80512023.' £850,059). This
indudes cash reseNes of £450,013. The trustee5 consider that this Is an acceptable level of cash reserves in
Order lo imrnedialely be able to donate a large sum if required or have funding for obtaining further inve$trnenl5.
The trustees aim to expand the charity's inveslmenl8 Portfolio ¥thenever th¥ opportunty arises.
The trust plans to continue to seek donations to enable them to distribute the monies throughout the Jewish
CDmmunty. The trustees ￿11 continue to purchase furthar investments when they believe il is in the best interests
of the charity.

THE HOLDEN CHARITABLE TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Slructurè. governance and m•nag•ment
The eharily was established by a charttable truyt deed on 1 May 1972 wlth a charity number 264185.
The trustee5 %tho served during the ye8r and up ta Ihe dale of signature of the finandal glatements wwe..
Mr M Lopian
Mr B Z Portnoy
Mr DALopian
(Apptynted 18 September 2024
Appointment of other truslee815 At lh8 dlscrelSon of the trustees. A new trustee would receive copies of the
pr8vious yearfs ieport and accounts and a copy of the Charity Commission leaflet entitled The Essential Trustee -
What you need lo know.
All decisions made on behaK af the trust are made by the tnJstee8.
The trusleets are rasponsibke for the provision of means to dlstribule ch8ritat4e donations to worthy causes.
The day-to-day adminiitration of the charlty18 carried OLrt by the trusl888.
The Iruslees meet reoularfy to conlder such is6ues as grant maklng, reserv88 8nd a180 to considèr feedback.
The trust deed aulhorlses the Iruslees to make ond hold investments using the general funds ol the chlrlly 8nd
the charity has invested in various properties Ic provide a slgady income. All the investments are in the UK.
The Trustees h#ve assessed the major risk• lo whlch th• thgrlty 1$ expo88d. and are salisfiod that SyBtems are In
place to mitigate èxposur• to the major risks,
Tr Iruslees, report was 8pproved by the 8oard of Tru8le•B.
Mr O A Loplan
Trusteg
Dated.. S February 2025

THE HOLDEN CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE HOLDEN CHARITABLE TRUST
I report to tha tnjslees on my examination of the finanryal stalem8nl8 of The Hc4den Charitsble Trust {tha charity} for
the year ended 5 Wil 2024.
R•sponslbllltl•$ and basls of report
As the trustees ol the charity you are responsible for the preparation of the finanaal statements in accordance wlth
the requirements of tho Charilies Act 2011.
I report in respect of my 8xaminalion of thtr charity's financlal 8ta18menls canled out Lsnder section 145 of the
Charities Act 2011. In carying out my axaminatson I have fgllowed the Diredions given by the Charity Commission
under Section 14515llbl of the Chadlies Act 2011.
Indep•nd•nt •xamlnorf8 statemont
Since the charity's gros3 Incom8 exceeded £250,000, the Independent examiner musl be a member ol a k)ody listed
in Sgclion 145 of th8 Charllies Act 2011. 1 confirm that l am qualified lo undertake the examinatlon bec8use l am
member of the Instilute of Chartered Accounlanl8 in England and Wales, which 1$ one of the Ilsled bodles.
Your gttenlion Is drawn to the fact that the charlty ha8 pr8P8red the flnanrAal slatemonts in accordance wllh the
relevant version of the Slolemènl of Recommended Pr8Ctlce applicabl8 lo charities Preparing their financial
statements in accordance with the Flnancial Reporting Standard 8pplicable in the UK and Republic of Ireland IFRS
1021 in prelerence lo the Accounting and Reporting by Ch8rilles'. Statement of Recomfflended Pr8Ctice issued on I
April 2005 which is r8ferred to in the exlanl regulations bul has now been wlthdrawn. l understand th81 thi5 has
been done in order lor Ihe flnanclal statements tg provide a iruo and fail view in accordance ￿th UK Generally
Accepted Accountsng Pr8ctice.
I havo compielgd my èxaminatlon. I confim Ihal no matters have com8 lo my allenlion in connoclion with th
examination giving me cause lo believe that In any mgteriol respect..
accountlng records wgre not kept in respect of the charity 88 requlred by sedon 130 of the Charftle¥ Act 2011.
Ihe linan¢i81 st8taments do nol accord with Ih08e records., or
the financlal statements do not comply wlth the Bppllcable requSr8ments concerning tho form and conlenl of
flnanclal statements 881 out In the ChaflU88 (Accounts and Reports) RegUla￿OnS 2008 olh8r than any
requlrement thal the linandal statements give a Irua and fair view, ￿1¢h is not 8 matter considered a8 part of
an independent axaminallon.
I have no concems and have corne across no other rnatters In connection wllh th8 examination to which allenlion
should be drawn In this report In order to 8nablg o proper underst8nding of the financial ¥lalements to be reached.
Jason Selig BA FCA CTA DChA
Loplan Gross Barn•tt & Co
1st Floor, Cloister House
Riverside
New Bailey Slw81
Manchester
M3 5FS
S February 2025

THE HOLDEN CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2024
UnrKtrlct•d Unr•strlct•d
fund•
funds
2024
2023
Nots¥
Incomo from..
Donation5 and legacies
Investments
Other income
S,500
51,142
420
450,000
81,262
400
Totjl Incom•
57,062
531,662
Charftsble adviUg8
879,322
390,148
Net galns on investments
33,008
28,778
Net Incomelloxp•ndlturel and mov•ment In funds
IS89,2541
141.514
Reconclllatlon 0lfund¥:
Fund balance8 at 8 Apnl 2023
850,059
681,789
Fund balancH at 5 Aprll 2024
260.805
850,059
The Btstgmanl of flnancl81 activltles includes 811 gains and losses rgcognised In the year. All Income and expendrtufe
dgrive from continulng ¥ctiville$.

THE HOLDEN CHARITABLE TRUST
BALANCE SHEET
ASATSAPRIL 2024
2024
2023
Not••
FIX￿ asso18
Investment property
Inveslmenl8
11
12
200,000
610,245
150,000
623,091
810.245
773,091
Currènt a•sots
Debtors
Cash al bank and in hand
13
40.347
450,013
116,018
43,750
490.380
159,788
Credltor•: amounts falllng du• wlthln
on• y•ar
14
11.039,8001
182,8001
Net currènt {Il•bllltl•8llaJ••ts
1549,4401
76,988
Total ass•t• IM• cuirnnt Il•bllltl••
280,805
850.059
Tho funds of th• charlty
Unre8tricted fund8
15
280.805
850.059
260,805
850.059
The financlal statements were approved by the Iru8tee8 on 5 FebTU8ry 2025
Mr DA Loplan
Tru•te•

THE HOLDEN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Accountlng pollclos
Charlty Infomatlon
The Holden Charitable Trust 1$ 8 charitable unincorporated Ofganisation in England & Wales.
1.1 Accountlng conv•ntlon
The financial statements have been prepared in accordancè with the charlty'g governing documenl, the
Charities Act 2011 and "Accounting and Reporting by Charities.. Slalement of Recommended Practice
applicable lo charities preparing their accounts in accordance with the Financlal Reporting Standard
applicable In the UK 8nd Republic of Ireland {FRS 1021 leffecltve 1 January 2019}" The chafily 18 a Publ
Benefit Entity as defined by FRS 102.
The finanaal stslemenls have departed from the Charllie8 (Account5 and Reports) Regulation$ 2008 only lo
the extent requlr8d lo provide a true and fair vlew. This departure has involved followlng the Slalemont of
Recommended Practi￿ for charities applylng FRS 102 rather Ihan the veT51on of the Slalement of
Recomm8nd8d Practyco vthich 18 refèrred to in the Regulations but which has since been withdrawn.
The financial ststefnenls are prepared In slerting, whlch is the functional currency of the charfly. Monetary
amounts in these ffnonci818lalements are rounded lo the nearest £.
The financigl slalemenl$ have beén prepared under the hi8toric81 co¥1 convention. modified lo Include the
revaluallon of freehold properties and lo include investment properties and certain financial instrumenls al fair
value. The principal accounting pollcies adopted are sel out below.
1.2 Golng Concern
At Ihe lime of approving the financial slalÈment5, the Irusl889 have a reasonable expectatlon that the charlty
has adequate resources to continue in oper81ional exislence for the foreseeable lulure. Thus the Iruslees
continue lo adopt the golng concern basis ol accounting in preparing the financial slalemenl8.
1.3 Ch•rltable fund•
Unreslricled fund8 are available for use at the di¥cretion of the tTUStee8 in furtheranc8 ol their ch8rltable
oblecllves.
Restricted funds are Subject lo speciflc condiuons by donor8 or grantors as to how they may be used. The
PUTposes and uses of the restricted fund8 afe sel out In the notes to the financlal 8tatem8nls.
Fund8 held by the charhy are all unreslricled. These being fiJnd8 whlch can be used In accordanc• the
tharllable obj8cis 81 the discretion of the trustees.
1A lthcomlng resourcfrB
Income is recognised when the charity is legally enlilled to it 8ftèr any perfomance conditsons have been mel,
the amounts can be measured reliably, and il 18 probauè that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the chanty has been no￿.fied
ol the donation, unless perfomiance conditions require deferral of the amount. Income lax recoverable in
relation lo donation8 received under Gift Aid or deeds of covenant is recognised at the lime of the donation.
Legacies are ￿cognised on receipt or othe￿ise if the charity has been notified of an impendlng distribution,
the amount is known, 8nd rewpt is expected. If the amount is not known. the legacy is Irealed as a
conlingenl asset.

THE HOLDEN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Accountlng pollclgs
Icontlnuedl
1,5 Resource5 expended
Expenditure is recognlsed on an accnjals basis as a Ilabilily Is Incurred. Expenditure that is directly
s￿l￿utebIe lo specific adivitie8 has been included In the relevant cost calegones.
Governance costs comprise all costs invofving the public accounlablllly of the charity and its compliance wllh
regulation and good practice. The8e costs include cos18 related lo independanl examination and legal fe&s.
1.6 Investment proportles
Inve51menl property, which Is property held lo eam rentols andlor for captlal appreci8tSon, is inillally
rècognised at cost, which Indudes the purchase cost and any directly attributable expenditurè. Subsequenuy
it is measured 81 falr value al the reporting end dale. The surplus or deflclt on revaluation is recagnised In
profll or loss.
1.7 Flxed asset Invostm•nt¥
Fixed asset investments are inlllally measured al transaction pnce exduding trans8th.on costs. and are
8ubsequently measured al falr value at each reporting dale. Changes in fair volue are recognised In nel
incomellexpgndilurel for th• year. Transaction costs are expen8èd a8 incurred.
1.8 Ca•h and cash &qulv•lents
Cash and cash equivalents indude cash in h8nd, deposits held al c¥ll wtih banks, other short-lerm Ilquid
investments with original maturities of three months or less. and bank overdraft6. Bank overdrafts are shown
wilhln borrO￿n9$ in currenl11gbilitie8.
1.9 Flnanclal Instrument•
The charity has elected lo apply the provislons of Section 11 'Basic Financial In8truments' and Sectlon 12
'Other FinanrAal In81rumenl8 Issues, of FRS 102 to all of financial instruments.
Fin8ncial instruments are recognised in the charlty's balance sheet when the tharfty becomes paty lo the
controctual provSsions of the instrument.
Flnancial assets and liabillu'es ore offset, with the nel amounts pre8ent•d in the finanaal statements, when
there is a legally enfDrceable right lo sel off the recognised amounts and there is an Intention to $8tt18 on a net
basis OT to reali8e the 88sel and settle the liabllity simultaneously.
8aslc flnan¢l•l ass•ts
Basic financial aysels, which include debtors and cash and bank balances, are Ini11811y measured al
transaction price includSng transaction costs and are subsequently carried at amortised cost u81ng the effective
interest method unless th8 arrangement con6lilutes a financing Iransaclion, where the transactlon 18
measured at the Present value of the future Teceipls discounted at a market rale of Interest. Financial assets
classified as receivable within one year are not amortised.
Baslc Iln•ncl•l Il•bllltl8s
Basic financial liabilities, Including creditors and b8nk loans are initially recognised at transaction price unless
the arrangement conslilutes a financing transaction, where the debt instrument is measured al the Present
value of the future payments discounted at a market rale ol interest. Financial liabilities classified as p8y8ble
within one year are not amortised.
Debt instruments are subsequently c8rrfed 81 amortised eost, U81ng the effective Interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordlnary course of
operations frorn suppliers. Amounts payable are dassified as current liabilities if payment is due wlhin one
year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially al
lr8ns3th.on price and ￿bsequentlY measured at amortised c05t using the effeciive intere51 method.

THE HOLDEN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Accountlng pollclès
{Contlnuodl
Derncognition of financlal Ilablltties
Finanual liabilities are derecognised when the charity's contractual obllgallons ewre or are di¥¢harged or
cancelled.
Crltlcal accountlng •stlmats8 and ludgomonts
In the appllcalion of the charity's accounting poliues, the trustees are requimd lo make judgements, e￿MateS
and assumption5 about the carrying amount of asset3 and liabilities that are not réadily apparent from othèr
sources. The eslimales and 88SOCl8ted a5sumplion8 are based on historical experiènce and other factors that
8re consldered lo be relevant. Actual results may differ from these estimates.
The esllmate8 and und8rlying assumption# are ravi8￿d 8n ongoing ba818. Revisions to accounllng
estimat85 are rècognised in the period in which the eslim8le is revised where the revision affects only that
period, Dr in the period of the revision and future periods where the revi8lon affects bolh current and future
periods.
Incom• from donatlon• •nd l•gacl•¥
Unr••trlGted Unrostrlcted
fund¥
lund¥
2024
2023
Donations and gifts
5,SOO
450,000
Incom• from Inv••tm•nts
Unrn•trSct•d Unrestrlctod
funds
lund•
2024
2023
Rental income
Interest réeeivable
50.367
775
81,024
238
51,142
81,282

THE HOLDEN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Expend1￿1* on ch•rltable actlvltlas
Grant
fvndSng
2024
Grant
fundlng
2023
Dlr•ct costs
Bank charges
Insuranc¢
337
390
780
378
727
1.156
Grant fvnding of actlvilos Isee note 61
857,400
381,887
Sharo of govemance costs
20,775
7,105
678,902
390.148
Gr•nts ￿Y•ble
The charity made various grants lo a number of instllutlon8 which carry out ath'vlfjes SLtch 83 providing
Orthodox Jewsh education or other actiVTbes which advanc& Jewsh religion In accordance with the Orthodox
Jawl8h fo11h,
Material gTants made are delalled below..
King Davlds Schools Imanchesterl
Broom Foundation
Teshuvoh Tefi118h Tzedokoh
Gateshead Talmudlc81 College
The Yiani8 Chrislodoulou Foundation
Moreshel Hatorah Ltd
Beller Worfd Charity Limlted
Chana Charity Ltd
The Shaarei Torah Trust
Other Donalicns (less than £15,000)
100.000
56.000
30,000
25,000
25,000
20,000
15,000
15,000
15,000
374,400
675,400
Trustee#
None of the trustees lor any persons connected wlh them) received any remuneration or benefits from the
chanly during the year.
None of the trustees lor any pgr50ns conneded with them) received any reimbursements of eypenses fftjm
the charity during the year.

THE HOLDEN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Employ￿8
The average mcnthly number of employees during the year was..
2024
Number
2023
Number
Totsl
There were no employee8 whose annual remuneration was more than £60,000.
Galn• •nd 10¥9•g on InveJtm•nt•
Unr•strlct•d Unrestrfctgd
funds
fund•
2024
2023
Gaing111083esl ar181ng on-
Sala of investrnènls
Rovaluatlon of Investment propertles
117,6571
50,683
26,776
33,006
26,778
10 Taxatlon
The Gh8rtty 18 exempl from taxatlon ￿ it8 8Ctivill8s becau8e all 118 income 18 gppllèd for chantsblè purposes.
11 Invostmont prop#rty
2024
Falr valuè
Al 6 April 2023
Nel gains or loyses through fair value adluslmenls
150,000
50,000
At 5 Aprll 2024
200.000
Inve81ment property comprlses one propety. The fair value of the investment PTopth has been arrived at
fc41owing 8 valuation carried out by the trusteès on the basis of CUTrenl m8rket condib"ons.
2024
2023
Freèhold
150,000
150,000
10-

THE HOLDEN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
12 Flxed asset Inv•sthientg
Unll8ted
Investm•nts
Cost er valuatlon
Al 8 Aw'l 2023
Valuation changes
N•1 Surplus
Repayments
Disposals
623,091
663
37.847
129,901)
121,455)
Al 5 April 2024
810,245
Carylng 4mount
Al 05 April 2024
610.245
At 05 April 2023
623,091
13 Dèbtor•
2024
2023
Amounts falllng du• *Althln on• yoar..
Other debtors
40,347
116,018
14 Crndltor•: amount• f•lllng due wlthln on• yo¥r
2024
2023
Trade crèdli
Other credito
Accruals and deferred Income
3,800
75,000
3,900
1,035.000
4,800
1,039,800
82.800

THE HOLDEN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
16 Unrestrlcted funds
The unrestricted funds of th8 charity comprise the unexpended balances of donations and grant5 which are
not sufy'ect to speafic conditions by donor5 and grantors as lo how they may be usod. These include
designated funds which have been sel aside out of unrestricted funds by the trustee8 for specific purposes.
At 5 Aprfl
2024
At 6 Aprfl
2023
Incomlng RMourco•
resourc•s
•xponded
G•Sn8 and
lo¥s
Gonaral funds
850.059
57.062
1679,3221
33.006
280.805
Prnvlou• y•ar.
At 6 Aprll
2022
Incomlng R•sourceA
r•sourco•
•xp•ndod
Galns •nd
10•00•
At 5 ApTII
2023
General funds
881,789
531,882
1390.1481
26,776
850,059
16 Events aft8r the r•portlng dato
Thero were no post balance sheel events vthlch requlred diselo8ure al the balance shoel date.
17 R•l*t•d party tran••ctlon•
Tran•8ctlons wlth r•lat•d partl
Durfng the ye8r thère wore no donations received from rolaled partles Ihat requirad disdosure12023'. £01.
At the ye8r end there was a £1,035,000 12023.. £75,000) loan balance ¢)wed lo Medal Housè Company, of
which truste• D Loplan 18 a director and 8harehold8r. This loan is repayable on demand and 18 not incurring
inter88t.
12-