Docusign Envelope ID: 7DAFE17E-6EE4-41F1-A692-105672A73191
REGISTERED COMPANY NUMBER: 01157880 (England and Wales) REGISTERED CHARITY NUMBER: 267447
WYCHDALE LIMITED (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS
Docusign Envelope ID: 7DAFE17E-6EE4-41F1-A692-105672A73191
WYCHDALE LIMITED
CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 3 |
| Report of the Independent Auditors | 4 to 6 |
| Consolidated Statement of Financial Activities | 7 |
| Company Statement of Financial Activities | 8 |
| Consolidated Balance Sheet | 9 |
| Company Balance Sheet | 10 |
| Consolidated Cash Flow Statement | 11 |
| Notes to the Consolidated Cash Flow Statement | 12 |
| Notes to the Consolidated Financial Statements | 13 to 20 |
Docusign Envelope ID: 7DAFE17E-6EE4-41F1-A692-105672A73191
WYCHDALE LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025
TRUSTEES:
Mr C D Schlaff Mrs Z Schlaff Mr J J Schlaff
COMPANY SECRETARY:
REGISTERED OFFICE:
Mrs Z Schlaff First Floor 94 Stamford Hill London N16 6XS
REGISTERED COMPANY NUMBER: 01157880 (England and Wales)
REGISTERED CHARITY NUMBER: 267447
AUDITORS: Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditors First Floor 94 Stamford Hill London N16 6XS BANKERS: Metro Bank plc 1 Southampton Row London WC1B 5HA
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WYCHDALE LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
REFERENCE AND ADMINISTRATIVE INFORMATION
Reference and administrative information is shown on page 1 of the financial statements and forms part of this report.
OBJECTIVES AND ACTIVITIES
Objectives and activities for the public benefit
The objects of the charity are the advancement of religion in accordance with the Orthodox Jewish Faith and for such other purposes as are recognised by English Law as charitable.
The trustees have considered the Charity Commission's general guidance on public benefit.
Grantmaking policy
In general, the trustees select the institutions to be supported according to their personal knowledge of work of the institution. Whilst not actively inviting applications, they are always prepared to accept any application which will be carefully considered and help given according to circumstances and funds then available.
FINANCIAL REVIEW
Review of activities
The Trustees are pleased with the results for the year. Donations received more than doubled, this was largely due to a one-off donation from a connected company. Group investment income was materially in line with the previous year; group investment management costs increased by 20% in comparison with last year. Grants paid out increased commensurate with the increase in donations received. The group returned a small deficit for the year which was funded from reserves.
The subsidiary continues to generate rental income from its investment property portfolio, with an increase of 8% when compared with the previous year. The subsidiary generated a small surplus for the year.
Investment policy
Under the memorandum and articles of association the charity has the power to make any investment which the trustees see fit. The trustees consider that investment in property meets their criteria for income and capital growth. The return is considered satisfactory in the current financial climate.
Reserves policy
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end stood at £1,540,454 (2024: £1,550,354), represented by net assets.
Principal risks and uncertainties
The principal risks to which the charitable company is exposed are: defaults by tenants, impairment of properties, adverse movements in interest rates, planning consent for redevelopment being declined and lettings and sales of properties declining due to adverse market conditions.
Future plans
The trustees anticipate that the charity will continue on a similar basis in the foreseeable future, subject to satisfactory incoming resources.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The charity is constituted as a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 22 January 1974.
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WYCHDALE LIMITED
REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 MARCH 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees
The power to appoint new trustees is vested in the board. New trustees are appointed based on personal competence, specialist skills and experience. They are inducted into the working of the charity by the current board and are given, in the view of the board, sufficient training to understand the nature of the charity and its working. They are also encouraged to read the Charity Commission's various publications on trustees. It is not currently the intention to appoint any new trustees.
Subsidiary
The charity has a 75% holding in its subsidiary, In-Situ Estates Limited, a property investment company.
Risk management
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees (who are also the directors of Wychdale Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
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- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
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there is no relevant audit information of which the charitable company's auditors are unaware; and
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- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
The auditors, Sugarwhite Meyer Accountants Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of Trustees on 24th March 2026 and signed on its behalf by:
Mr C D Schlaff - Trustee
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WYCHDALE LIMITED
Opinion
We have audited the financial statements of Wychdale Limited (the ‘parent charitable company') and its subsidiary (‘the group’) for the year ended 31 March 2025 which comprises the Group Statement of Financial Activities, the Group and Parent Charitable Company Balance Sheets, the Group Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In our opinion the financial statements:
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give a true and fair view of the state of the charitable company’s affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the Report of the Trustees has been prepared in accordance with applicable legal requirements.
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WYCHDALE LIMITED
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
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the parent company financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report or in preparing the Report of the Trustees.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities set out on page three, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
In performing an audit, we exercise professional judgement and maintain professional scepticism throughout the audit.
We also identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test bases, evidence regarding the amounts and disclosures in the financial statements. The risk of not detecting a material misstatement resulting from fraud is higher than one for one resulting from error, as fraud may involve collusion, forgery, intentional omissions misrepresentation or override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of charity’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgement, there are conditions or events, considered in the aggregate, that raise substantial doubt about charity’s ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WYCHDALE LIMITED
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors
Other matters
The corresponding figures for the prior year are unaudited as an audit was not required by any Act or the trustee.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Emanuel Meyer (Senior Statutory Auditor) for and on behalf of Sugarwhite Meyer Accountants Ltd Chartered Accountants and Statutory Auditors First Floor 94 Stamford Hill London N16 6XS
24th March 2026
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WYCHDALE LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025
| 2025 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 2,093,000 Investment income 3 131,574 Total income 2,224,574 EXPENDITURE ON Raising funds 4 Investment management costs (97,380) Charitable activities 5 Charitable activities (2,148,894) Total expenditure (2,246,274) Net gains/(losses) on investments 9 13,509 NET INCOME/(LOSS) BEFORE TAXATION (8,191) Taxation (827) NET INCOME AFTER TAXATION (9,018) Attributable to non-controlling interest (882) NET MOVEMENT IN FUNDS (9,900) RECONCILIATION OF FUNDS Total funds brought forward 1,550,354 TOTAL FUNDS CARRIED FORWARD 1,540,454 |
2024 Total funds £ 889,730 132,673 1,022,403 (81,071) (850,944) (932,015) 493,740 584,128 (125,033) 459,095 (93,735) 365,360 1,184,994 1,550,354 |
|---|---|
The notes on pages 13 to 20 form part of these financial statements
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WYCHDALE LIMITED
COMPANY STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025
| 2025 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 2,093,000 Investment income 3 27,232 Total 2,120,232 EXPENDITURE ON Raising funds 4 - Charitable activities 5 Charitable activities (2,146,285) Total (2,146,285) Net gains/(losses) on investments 9 13,509 NET INCOME/(EXPENDITURE) (12,544) RECONCILIATION OF FUNDS Total funds brought forward 975,554 TOTAL FUNDS CARRIED FORWARD 963,010 |
2024 Total funds £ 889,730 36,414 926,144 (1,914) (833,816) (835,730) (6,260) |
|
|---|---|---|
| 84,154 891,400 975,554 |
||
The notes on pages 13 to 20 form part of these financial statements
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WYCHDALE LIMITED (REGISTERED NUMBER: 01157880)
CONSOLIDATED BALANCE SHEET AND CHARITABLE COMPANY BALANCE SHEET AS AT 30 MARCH 2025
| Notes FIXED ASSETS Investments 12 Investment property 13 CURRENT ASSETS Debtors 14 Cash at bank and in hand CREDITORS Amounts falling due within one year 15 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 16 Provisions for liabilities 18 NET ASSETS Non-controlling interest NET ASSETS ATTRIBUTABLE TO THE PARENT CHARITABLE COMPANY FUNDS OF THE CHARITY Unrestricted funds 19 Fair value reserve 19 TOTAL CHARITY FUNDS |
Group 2025 2024 £ £ 152,237 138,728 2,750,000 2,750,000 2,902,237 2,888,728 543,400 513,803 15,554 74,326 558,954 588,129 (827,325) (1,306,973) (268,371) (718,844) 2,633,866 2,169,884 (473,000) - (427,928) (427,928) 1,732,938 1,741,956 (192,484) (191,602) 1,540,454 1,550,354 (515,201) (491,792) 2,055,655 2,042,146 1,540,454 1,550,354 |
||
|---|---|---|---|
The immediately following page forms an integral part of this balance sheet.
The notes on pages 13 to 20 form part of these financial statements
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The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approved by the Board of Trustees on 24th March 2026 and were signed on its behalf by:
Mr C D Schlaff - Trustee
The notes on pages 13 to 20 form part of these financial statements
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WYCHDALE LIMITED
CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025
| Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Tax paid Net cash provided by (used) in operating activities Cash flows from investing activities Purchase of investment property Interest received Dividends received Net cash provided by (used in) investing activities Cash flows from financing activities New loans in year Loan repayments in year Amounts introduced by directors Amounts withdrawn by directors Net cash provided by (used in) investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2025 £ (1,138) (46,717) (6,149) (54,004) - - 1,232 1,232 473,000 (479,000) - - (6,000) (58,772) 74,326 15,554 |
2024 £ 115,695 (37,837) (4,163) 73,695 - - - - - (24,000) 24,181 (6,000) (5,819) 67,876 6,450 74,326 |
|---|---|---|
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WYCHDALE LIMITED
NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025
1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: (Gains)/losses on investments Interest paid Dividends received Decrease/(increase) in debtors Increase/(decrease) in creditors Net cash provided by (used in) operating activities |
2025 £ (8,191) (13,509) 46,717 (1,232) (29,597) 4,674 (1,138) |
2024 £ 584,128 (493,740) 37,837 - (33,116) 20,586 115,695 |
|---|---|---|
2. ANALYSIS OF CHANGES IN NET DEBT
| Net cash Cash at bank and in hand Debt Debts falling due after 1 year Debts falling due after 1 year Total |
At 1.4.24 £ 74,326 74,326 (479,000) - (479,000) (404,674) |
Cash flow £ (58,772) (58,772) 479,000 (473,000) 6,000 (52,772) |
At 31.3.25 £ 15,554 15,554 - (473,000) (473,000) (457,446) |
|---|---|---|---|
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WYCHDALE LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Basis of consolidation
The group financial statements include the accounts of Wychdale Limited and its subsidiary, In-Situ Estates Ltd, a 75% owned subsidiary.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. The estimates and underlying assumptions are reviewed on an ongoing basis.
The valuation of investment properties is inherently subjective, depending on many factors, including the individual nature of each property, its location and expected future net rental values, market yields and comparable market transactions. Therefore, the valuations are subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.
Income
Donations
Income received by way of donations is accounted for when received.
Investment income
Income from investments included in the year in which it is receivable
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred and includes irrecoverable VAT, which is reported as part of the expenditure to which it relates.
Raising funds comprises investment management costs relating to the investment properties.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional, statutory and regulatory requirements.
Investment management costs
Investment management costs include costs relating to the investment properties.
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WYCHDALE LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES - continued
Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. It is revalued to its fair value at each reporting date any changes are transferred to the Statement of Financial Activities. No depreciation is provided in respect of investment properties applying the fair value.
The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the trustees who are considered to have the experience and expertise required to undertake such an exercise. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties in the same or similar location.
Acquisitions and disposals of properties
Acquisitions and disposals of properties are considered to take place at the date of legal completion and are included in the Financial Statements accordingly.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Financial Instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the amount expected to be received or paid and not discounted.
Going Concern
There are no material uncertainties about the charity’s ability to continue as going concern.
2. DONATIONS AND LEGACIES
| Group | Company | Company | |||
|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Donations received | 2,093,000 | 889,730 | 2,093,000 | 889,730 |
3. INVESTMENT INCOME
| Rental income Dividend income |
Group 2025 2024 £ £ 130,342 131,697 1,232 976 131,574 132,673 |
Company 2025 2024 £ £ 26,000 35,438 1,232 976 27,232 36,414 |
Company 2025 2024 £ £ 26,000 35,438 1,232 976 27,232 36,414 |
|---|---|---|---|
| 36,414 |
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WYCHDALE LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
4 . RAISING FUNDS
Investment Management costs
| Rent and rates Repairs and maintenance Management & letting fees Insurance Professional fees Office expenses Office salaries Interest payable and similar charges Telephone Travelling expenses |
Group 2025 2024 £ £ - 247 6,302 7,353 2,392 2,392 19,639 16,477 6,440 3,120 595 789 11,000 9,500 46,717 38,813 483 387 3,812 1,993 97,380 81,071 |
Company 2025 2024 £ £ - - - 38 - - - 1,096 - - - 780 - - - - - - - - - 1,914 |
Company 2025 2024 £ £ - - - 38 - - - 1,096 - - - 780 - - - - - - - - - 1,914 |
|---|---|---|---|
| 1,914 |
5. CHARITABLE ACTIVITIES COSTS
Group
| Grant funding of activities Direct (see note Costs 6) £ £ Charitable activities - 2,139,672 Company Grant funding of activities Direct (see note Costs 6) £ £ Charitable activities - 2,139,672 6. GRANTS PAYABLE Charitable activities The total grants paid to institutions during the year was as follows: Advancement of religion Advancement of education Relief of poverty Social welfare |
Support costs (see note 7) Totals £ £ 9,222 2,148,894 Support costs (see note 7) Totals £ £ 6,613 2,146,285 Group 2025 2024 £ £ 2,139,672 842,650 2025 2024 £ £ 565,910 637,150 192,662 160,500 73,300 22,000 1,307,800 23,000 2,139,672 842,650 |
Support costs (see note 7) Totals £ £ 9,222 2,148,894 Support costs (see note 7) Totals £ £ 6,613 2,146,285 Group 2025 2024 £ £ 2,139,672 842,650 2025 2024 £ £ 565,910 637,150 192,662 160,500 73,300 22,000 1,307,800 23,000 2,139,672 842,650 |
|---|---|---|
| 842,650 |
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WYCHDALE LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
6. GRANTS PAYABLE - continued
| Bilava (R.A.) | 1,300,000 |
|---|---|
| The ABC Trust | 316,500 |
| Netzach Charitable Trust | 216,000 |
| Tomchai Torah B’am Yisroel | 78,000 |
| Friends of Mercaz Hatorah Belz Macnivka | 60,000 |
| Friends of Beis Soroh Schneirer | 44,000 |
| Yeshiva Shaar Hashomayim | 38,000 |
| Friends of Beis Chinuch Lebonos | 27,000 |
| Others under £20,000 | 60,172 |
| Total | 2,139,672 |
7. SUPPORT COSTS
| Charitable activities | Group Governance costs 2025 2024 £ £ 9,222 8,294 |
Company Governance costs 2025 2024 £ £ 6,613 5,166 |
|---|---|---|
Support costs, included in the above, are as follows:
| Auditors' remuneration Auditors' remuneration for non audit work Independent examiner's fee Independent examiner's other fees General expenses |
Group 2025 2024 £ £ 3,000 - 5,520 - - 1,080 - 5,280 702 1,934 9,222 8,294 |
Company 2025 2024 £ £ 3,000 - 3,000 - - 840 - 1,920 613 451 6,613 3,211 |
Company 2025 2024 £ £ 3,000 - 3,000 - - 840 - 1,920 613 451 6,613 3,211 |
|---|---|---|---|
| 3,211 |
8. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Auditors' remuneration Auditors' remuneration for non audit work Independent examiner's fee Independent examiner's other fees |
2025 £ 3,000 5,520 - - |
2024 £ - - 840 5,220 |
|---|---|---|
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WYCHDALE LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
9. NET GAINS/(LOSSES) ON INVESTMENTS
| Gain on reval’n of investment assets Gain (loss) on reval’n of investment property |
Group 2025 2024 £ £ 13,509 (6,260) - 500,000 13,509 493,740 |
Company 2025 2024 £ £ 13,509 (6,260) - - 13,509 (6,260) |
Company 2025 2024 £ £ 13,509 (6,260) - - 13,509 (6,260) |
|---|---|---|---|
| (6,260) |
10. TRUSTEES' REMUNERATION AND BENEFITS
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
11. AVERAGE STAFF NUMBERS
The average number of staff in the year was Nil (2024 – Nil).
12 . FIXED ASSET INVESTMENTS
Group
| Group | |
|---|---|
Listed |
|
| investments | |
| £ | |
| COST OR VALUATION | |
| At 1 April 2024 | 138,728 |
| Revaluations | 13,509 |
| At 31 March 2025 | 152,237 |
| NET BOOK VALUE | |
| At 31 March 2025 | 152,237 |
| At 31 March 2024 | 138,728 |
Company
| Shares in group Listed undertakings investments £ £ COST OR VALUATION At 1 April 2024 3 138,728 Revaluations - 13,509 At 31 March 2025 3 152,237 NET BOOK VALUE At 31 March 2025 3 152,237 At 31 March 2024 3 138,728 |
Totals £ 138,731 13,509 152,240 152,240 138,731 |
|---|---|
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WYCHDALE LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
12 . FIXED ASSET INVESTMENTS - continued
| Listed investments UK Non UK |
2025 151,932 305 152,237 |
2024 138,682 46 138,728 |
|---|---|---|
Listed investments have been valued at the stock market price at the Balance Sheet date.
Wychdale Limited owns 75% of the equity share capital of In-Situ Estates Limited, a property investment company registered in England and Wales, No. 01061325.
In-Situ Estates Limited information for the year ended 31 March 2025:
| In-Situ Estates Limited | information for the |
|---|---|
| Income | 104,342 |
| Expenditure | (99,989) |
| Profit/(loss) | 4,353 |
In-Situ Estates Limited assets were £2,404,839, liabilities were £1,206,890 and provisions were £427,928; capital and reserves were £769,931 in surplus.
13 . INVESTMENT PROPERTY Group
| INVESTMENT PROPERTY Group |
|
|---|---|
| FAIR VALUE At 1 April 2024 Additions At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 |
Total £ 2,750,000 - |
| 2,750,000 | |
| 2,750,000 | |
| 2,750,000 |
Company
| Company | |
|---|---|
| FAIR VALUE At 1 April 2024 Additions At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 |
Total £ 750,000 - |
| 750,000 | |
| 750,000 | |
| 750,000 |
The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the charity’s trustees who have the experience and expertise required to undertake such an exercise. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties in the same location.
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WYCHDALE LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
14 . DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Amounts owed by group undertakings Other debtors Amounts due from connected companies Prepayments and accrued income |
Group 2025 2024 £ £ - - 543,400 513,803 81,170 81,170 - - 624,570 594,973 |
Company 2025 2024 £ £ 144,343 144,343 147,154 118,437 - - - - 291,497 262,780 |
Company 2025 2024 £ £ 144,343 144,343 147,154 118,437 - - - - 291,497 262,780 |
|---|---|---|---|
| 262,780 |
15 . CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Bank loans Accruals and deferred income Other creditors Amounts due to connected companies Taxation |
Group 2025 2024 £ £ - 479,000 15,141 12,720 553,782 522,446 257,170 286,254 1,232 6,553 827,325 1,306,973 |
Company 2025 2024 £ £ - - 10,101 7,680 215,695 215,695 11,892 9,176 - - 237,688 232,551 |
Company 2025 2024 £ £ - - 10,101 7,680 215,695 215,695 11,892 9,176 - - 237,688 232,551 |
|---|---|---|---|
| 232,551 |
16 . CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| Bank loans (see note 17) Other loans (see note 17) |
Group 2025 2024 £ £ 473,000 - - - 473,000 - |
Company 2025 2024 £ £ - - - - - - |
Company 2025 2024 £ £ - - - - - - |
|---|---|---|---|
| - |
The bank loan is secured on the group’s investment properties.
17. LOANS
An analysis of the maturity of loans is given below:
| Amounts falling due in more than five years: Bank loans more than 5 years by non-instalments |
Group 2025 2024 £ £ 473,000 - 473,000 - |
|---|---|
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WYCHDALE LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
18. PROVISIONS
| Deferred taxation | Group 2025 2024 £ £ 427,928 427,928 427,928 427,928 |
Company 2025 2024 £ £ - - - - |
|---|---|---|
19. MOVEMENT IN FUNDS Group
Unrestricted funds General fund Fair value reserve TOTAL FUNDS |
At 1.4.24 Incoming resources Resources expended Gains and losses At 31.3.25 £ £ £ £ £ (491,793) 2,224,574 (2,247,983) - (515,202) 2,042,147 - - 13,509 2,055,656 1,550,354 2,224,574 (2,247,983) 13,509 1,540,454 |
|---|---|
Company
Unrestricted funds General fund Fair value reserve TOTAL FUNDS |
At 1.4.24 Incoming resources Resources expended Gains and losses £ £ £ £ 975,554 2,120,232 (2,146,285) - - - - 13,509 975,554 2,120,232 (2,146,285) 13,509 |
At 31.3.25 £ 949,501 13,509 963,010 |
|---|---|---|
20. RELATED PARTY DISCLOSURES
All donations received by the charity were from related parties, being companies with Directors in common with the Trustees of this charity, no restrictions were placed on these donations.
Other creditors include interest-free loans of £389,852 (2024: £389,852) from some of the Trustees and £421,601 (2024: £419,348) from companies and entities controlled by the Trustees.
The charity made a grant of £1.3m (2024: NIL) to Bilava (R.A.), a charity with a Trustee in common.
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