CIIARITY RECLRATIoN NUMBER: 267685 Siva Charhable Fund Flnan¢ial Statements 5 April 2025 COHEN ARNOLD Chart¢r¢d accountants & ststutory auditor New Burlington House 1075 Finchley Road LONDON Nwii OPU
Siva Charitable Fund Financial Statements Year endod 5 April 2025 Page Trnstees, annual report tndependent auditor's report to the members Statement of financial activities li Statement of financial position Statement of cash flows 12 13 Notes to the financial ststements 14
Siva Charitable Fund Trustee5' Annual Report Year ended 5 April 2025 The trustees pwesent th¢ir report and the financial slat¢ments of the chority for the year ended 5 April 2025. Reference and dmllllstrtlve de¢alls Registered charity name Ch*rlty re8lstr•tlon Dumb¢r 267685 Prlncipal orrice New Burlington House 1075 Finchley Road London NWII OPU Siva Charitable Fund The tru8tees Mr A Klein Mr J Sternlicht Mrs Z Sternlicht Audltor Cohen Arnold Chartered a¢¢ounlants & statutory auditor New Burlington House 1075 Finchley Road LONDON NWI I OPU Soli¢ltors Bude Nathan Twanier 1-2 Temple Fortune Parade Bridge Lane London NWI I OQN Struetiirey gov¢rn4DC¢ •nd management Governlng document The organisation is run by the trustees and is governed by the Trust Deed dated 4 April 1974, Trustees The trustees administer th¢ day to day Affairs of the charity. They are all experienced trustees and act in an honorary capacity. There is no inlention lo appoint any new trustees. None of the trustees have any beneficial int¢r¢st in the the charity. All trust¢es give freely of their time and exp¢rtise withoul any form of remuneralion or other benefit in ¢h or kind. Strn¢tiire and IDve8tmellts The Charity's property investments are held by Flintnjle Limited. Flintrule (No. l) Limited. Merlina Limited and Oakford Properti¢d Limited, which a¢t bare trustees. These companies. which we incorporated in England and Wales, hold the legal title to pioperties on tnt for the beneficial owner Siva Charitable Fund. All income and expendire deriving from these property investments is reflected in the financial st&temenls of Siva Charitable Fund. The nominee companies file dorn)ant ¢ompany accounts as all their assets, liabilities. income and expenses are included in the charity's accounts.
Siva Charitable Fund Tru$teu' Annual Report (¢yntkntd) Year ended S April 2025 Struetur¢y governance And mAn&gemeDt (cMhoxt41 Rlsk Management The trustees have identified and reviewed the major risks to which the chlty is ¢xposed, in particular Ihose r¢l&l¢d to the operations and finance of the charity. and are sali5fied that systems are in place to mitigate those risks. FIDncl41 rlsk management and pollcles The charity holds or issues financial instruments in order to achieve thr¢e main objectives being.. a) lo finance its operations b) to manage its exposure to interest and ¢urr¢n¢y risks arising from operations and from ils sources of finAnc¢' and ¢) lo generate funds. Irt addition various financial instruments (e.8. debtors. ¢r¢ditors, prepayments and accrLMls) arise directly from the charity's operations. Credlt Rlsk The charity monitors credit risk closely and considers that its current policies of ¢redil risk checks meets its objectives of managing exposure to cr¢dit risk. The charity has no significant concentrations of credit risk. Amounts shown in the balance sheet represent the maximum anticipated credit risk exposure. It is recognised that SyemS can only provide reasonable bul nol absoluie SranGe th major riskg have been adequalely managed. ObJeetlv¢s And a¢tlYltles Ch*rl¢able Objectlvei The charity'$ objectlV¢S gre: relief of poverry the advancement of education amongst persons who. in the uneontrolled opinion of the Truslees, are of the Jewish faith the advancement of the J¢wish faith
Siya Charitable Fund Trustees, Annual Report(cLtMtiN&¢a) Year ended S April 2025 Objeetives And activltles {co#liwMed) Aims, objectives 4Dd activities for public benefit The aim of the charity (both short term and long terni) 15 grant making to meet its primary objectiv¢s set out above. The charity makes grants to oih¢r ch8rili¢s, utilising reserves in lean times, and success As measured by the quantum of grants it makes in a y¢ar. The charity strives to be self funding from its investment assets. Th¢ charity does not engage in fund raising &ctivilies, however welcom¢s donalions from other charities and organisations to fund its activities. Public Benefit The trustees confirni that they have referred to guidelines contained in the Charity Commission's general 8uidance on public benefit when reviewing the charity's aims and objectives and in planninE future activities and setting the grant making policies for the year and complied with its duty to have due Tegard io the Commission's public benefit guidance wh¢n ¢x¢rcising any powers or duties to which the guidance is relevanl. The an1 making policy of the charity as slated below helps the charity lo fulfill its duty to act for the public benefil in a¢cordance with seciion 4 of the Charilies A¢t 2006. Gr#nt maklnE poli¢y This charity was established lo support the activities of Jewish religious organisalions, especially in Ihe field of education and to provide philanthropi¢ aid to the needy. Grants are made lo charitable institutions and organisations whi¢h conforni to the objects of the chariry aftei ihe trustees have satisfied themselves as to the bona fides of the recipients. Donations are made to organisations providing a sound religious education in accordance with doctrines and prin¢iples of traditional Judaism and lo insiithtions sel up to Provide aid to the needy With a view to a¢hieving the objects of th¢ Charity. Applications for grants are made in writing to the charity or in person lo the Trustees by voluntary and community organisations a5 well as by individuals on behalf of impoverished individuals or by those said individuals themselves. All donations above £5,000 require approval of all of the Trustee5 and after making ihe necessary check%. proportional io the level of fundin8 involved, donations are granted. number of organisalions and institutions regularly supported by Siva Charitable Fund have a continual call for funding for capital project5 together with a concomitant need for increased revenue support. A¢hlevemeDts and perform•D¢e During the year £329,700 (2024.. £254,600) was distributed in furtherance of the charity's objectives. The grants have increased based on the increased income available in the year. Flllncial review The charity is reliant on the income from its investment properties. No voluntary income was received from companie5 connected with the Irusl¢¢s. Income from the charitys investment properties and management costs were lorgely in line with the prior year. The value of th¢ investment properties is ba8ed on rnarket conditions. No change in activities is envisaged in the immediate future
Sivo Charitable Fund Trustees, Annual Report (cOhrttt Yr ended S April 2025 Plans for thture perlods The charity plans to continue the activities outlined above in the forthcoming years subject to salisfactory incoming resources. It is the trusl¢¢s aim to ensure future income stream by the acquisition of investments. Investment powers And policy In accordance with the trust deed. the charity has the power to make any investment. which the tru5tee5 see fit. The tru51ees regularly T¢view the charity's position and needs in resp¢¢t of the inve5tmenl policy. The truglees having regard to the liquidity requirement of the charity and the reserves poli¢y operate a policy of holding available funds in interest bearing deposit ac¢ounts. Reserve5 Pollcy It Is the policy of the charity to maintain unrestri¢t¢d funds, which are the free reserves of the Charity. at a level which the tTUStces think appropriate after considering the future Commitments of the Charity and the likely administrative cosis of the charity for the next year. As at 5th April 2025, the Charity had £6.Om of unrestricted funds available. Flied Auetj The movements in inveslmcnts ar¢ fully reflected in th¢ note 12 to the finan¢i815tatement5. There were no additions or disposals during the year. lllvestmeD¢ propertlei The charity's properties have been revalued to their fAir value by the trustee Mr J. Sternlicht. Trustees, reJponJlbllltles sttemeDt The trustees are responsible for prepaxing the trustees, report w)d the financial slatements in accordance with applicable law and United Kingdom Accountin8 Siandards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England and Wales requires th¢ charity trustees lo prepare financial slatem¢nt$ for each year which give a true and f&ir view of the stale ofaflairs of the charity and of tlie incoming resources and application of resources, of the charity for that period. In pr¢paring these financial statements, the trustees required to: select suitable 8¢counting policies and then apply them consislenily. obserye ihe methods and piinciples in the applicable Charllies SORP. make judgment5 and accounting ¢stimates that ar¢ reasonable and prudent.. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statement5 on the going conc¢Tn basis unless li is inappropTiate to pr¢sume that the charity will ¢ontinue in business.
Siva Chydritable Fund Trustees, Anllual Report{co*rfAtsed) Yer ended 5 April 2025 The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's trntionS and dis¢lose with reasonable accuracy at any lim¢ the financial position of ihe charity and enable them to ensure ihat the financial stalements wmply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of th¢ Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The tste¢S, annual report wL4 approved on 14 January 2026 and signed on behalf of the board of Irust¢¢s by: Mr A Klein Trustee
Siva Charitable Fund Independent Auditor's Report to the Members of Siva Charitable Fund Year ended 5 April 202S W¢ have audited the financial 5tatem¢nts of Siva Charitable Fund (the 'charity) for the year ended 5 April 2025 which comprise ihe statement of financial acliyities, statement of financial position, statement of c&sh flow5 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, including FRS 102 The Financial Reporting Standard &pplicabl¢ the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give & true and fair view of the state of the charity's affairs as at S April 2025 hnd of its incoming resources and application of resour¢¢s, including its income and expenditure. for the year then have been properly prepared in accordance with Unil¢d Kingdom Generally Accepted Accounting Practice. have been prepared in cordAnce with the requirements of the Charities Aci 2011. Basis for oplnlon We ¢ondu¢t¢d our audit in accordance with International Standards on Auditing (UK} (ISAS (UK)) and applicable law. Our responsibilities under Ihos¢ standards are further described in the auditoVs responsibilities for th¢ audit of the financiai statements section of our report. We are independent of the charity in accordance with the ethical requir¢m¢nts that are relevant to our audit of the financial stsiemenls in lh¢ UK. including the FRC'S Ethical Standard, and we hav¢ fulfilled our other ethical responsibilities in accordance with ihese requirements. We believe that the audit evidence we have obtained is sufficienl and appropriate to provide a b&si$ for our opinion. Concluslons r¢l*tln8 to going concer In auditing the financial slalement5, we have concluded that the irustees, use of the going concern basis of accounting in ihe preparation of the financial slalem¢nt3 is appropriate. B&qed on the work we have perfonned, we have not identified any material uncertainties relatin8 to events or condilions that, individually or collectively? may cast significant doubt on the chIty'S ability to continu¢ as a 80ing concern for a period of at least twelve months from when the financial statement5 are authorised for issue. Our responsibililie5 and the responsibilities of the trustees with respect to going concern are described in the relevant Sli0n of this report.
Siva Charitable Fund IndependeDt Auditor's Report to the Members of Siva Charitable Fund Yeydr ended 5 April 2025 Other Informotion The other information Comprises the infomation included in the annual report, other than the fitwjcial ateMentS and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover ihe other infomation and, excepl to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion ihereon. In Connection with our audit of the financial statements, our Tesponsibility is to read the oth¢r information and, in doing so, consider whether the other information is materially inconsistent with the financial slatem¢nls or our knowledge obtained tn the audit or otherwise appears to be materially misstated. If we identify su¢h material inconsistencies or apparent tnat¢rial misstatements. we are required lo delem)ine whether there is a material misstatement in the financial statements or a material misstatement of the oth¢r inforniation. If, bas¢d on the work we have performed. we conclude that there is a material misstatement of this oiher information, we are required to report that fact. We have nothin8 to report in this regard. Matters on wblch we Are requlred to report by exeeptloD In lh¢ light of the knowledge and understanding of the charity and its environment obtained in the ¢our5e of the audit, we have not identified material misstatements in the trustees, report. W¢ hove nothing to report in respect of the following matters in relation to which the Charities Act 201 I requires u5 to report io you if, in our opinion: the information given in the trustees, report is inconsistent in any material respect with the fin8n¢iAi statements: or adequate accounting records have not been kept. or the financial statements are not in agreem¢nt with the accounting records and retums; or we hE4ve not received all the infomation and explanations we require for our audit. ReJpon$lbllltle8 Ot trustees As explained more fully in the truste¢s' responsibilities statement, the tnLqtees are responsible for the preparation of the financial statements and for beins s8lisfied that they give a true and fair view, and for such internal control as the Iruslees determine is necessary to enable the preparalion of financial slatem¢nts that are free frotn material misstaternent, wheih¢r due to fraud or error. In preparing the financial statements, the trust¢¢s are responsible for assessing the charitys ubility to continue a$ a going ¢oncern. disclosing. as applicable, matters r¢lated to going concern and using the going concern basis of accounting unless the tnJstee5 either intend to liquidal¢ the charity or to cease operations, or have no realistic alternative but to do so.
Siva Charitable Fund Independent Auditor's Report to the Members of Siva Charitable Fund (cOArtAUt Year ended 5 April 202S Audltor's re8ponslbllltles for the audit of the financl*l stAtem¢nts Our objeclives are to obtain reasonable sranCe about whether the financial statements as & whole are free from material rni55tatem¢ni, whether due to fraud or error, and io issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee thal 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 th¢ aggregate, they could reasonably be expected to influence the economi¢ decisions of users taken on the basis of these financial statements. Irregulariti¢s, including fraud, are instances of nonwcompliance with laws and regulations. We design procedures in line with our responsibilities, ouilined above, to dete¢l material mi55tal¢m¢nts in resp¢¢l of irregularities, including fraud. The extent to which our procedures are capable of detectin8 irregularities. including fraud is detailed below.. We obtained an understanding of the legal and regulatory frameworks thai appli¢abl¢ to the charity through discussion wi¢h th¢ trustees and identified financial reporting legislation, landlord legislation and charity legislation &8 being most blgnificant to these financial stst¢ments. We communicated these identified frameworks amongst our 8udit team and remained alert io any indications of non40mpliaD¢e throughout the audit. We ensured that ihe engagement team had sufficient compelen¢e and capability to identify or re¢ognise nonrycomplian¢¢ with law5 and regulations. We discussed with the trust¢es the polities and procedures r¢garding compliance with these legal and regulatory frameworks. We SeSSed the su¢ptIbilItY of Ihe ¢harity'S financi statements to material mis51atement due to non-compliance with legal and regulatory frameworks, including how fraud might occur. by enquiry with the trustees during the plarLning and finalisalion stages of our audit and by usin8 proprietary disclosure checkiisls. Th¢ suseepiibility to such material misstal¢rnent was del¢rniined to be low. Based on this understandin& we designed our audit procedures to identify non-compliance with the identified legal and regulatory fram¢work%. which were part of our procedures on the related financial statement items. Owing to the inherent limitations of an audit, tker¢ is pn unavoidmble risk that we may not have detected some material misstatements in ihe financial statements, even ihough we have properly planned and performed our audit in accordan¢e with auditing standards. For exampl¢. the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions refl¢¢ted in the financial statements, the less likely the inherently limited procedures required by audiling standards would identify it. In addition, &8 with any audit, there remained a higher risk of non-detection of irregularities, as these tnay involve collusion. forgery. intentional omissions. misr¢preseThtations. or the override of iniernul controls. We arE not responsibl¢ for prevenling non- compliance and catmot be expected to de¢l non-compliance with all laws and re8ulations.
Siva Charitable Fund Independent Auditor's Report to the Members of Siva Charitydble Fund frotI) Year ended S April 2025 As part of an audit in a¢¢oTdance with ISAS (UK), we exw¢ise professional judgment and maintllin professional scepticism throughout the audit. We also.. Idenlify and assess the risks of material misstalemeftt of the financial statements. wheth¢r due to fraud or error. design and p¢rfomi audit procedures responsive to those risks, and obtain audil evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of nol detecting a materia] mi55¢aiement resulting from fraud is higher than for one resulting from error. a5 fraud may involve collusion. forgery intentional omissions. misrepresentations, or the override of internal control. Obiain an understanding of internal conlrol relevant to the audit in order to d¢si8n audit procedures that are appropriate in the ¢ir¢umstan¢es, bui not for th¢ purpose of expressing an opinion on the ¢ff¢ctiveness of ihe internal control. Evaluale ihe appropriateness of accounling policies used and the reOnab1CneYS of accounting estimates and related disclosures made by ihe trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of 8ccounting and. b&4ed on the audii evidence obtained, whether a material uncertainty exisls related to events or condilions that may cast significant doubt on the charity's ability to continue as a going concern. If w¢ conclude ihal A material un¢ertainty exists. we are required to draw gttention in our Audilor's report to the related disclosures in the financial statements or. if such disclosures are inadequat¢, to modify our opinion. Ow conclusions are based on Ihe audit evidence obtained up to the date ofour auditor's report. However. future events or Conditions may cause the Gharity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures. and whether the financial statements represent the underlying transa¢lions and events in a manner that achiev¢5 fair presentstion,
Siva Cbaritabl¢ Fund Independent Audilor's Report to the Members of Siva Charitabl¢ Fund Year ended S April 2025 We communicate with thos¢ charged with governance regarding, among other matters, the planned scope and tiTning of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This repot1 is mode solely to the charity'5 members, a$ a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Acl. Our audit work has been undertaken 50 that we might State lo the charity's members those matters we ore required lo state to them in an auditor's Teport and for no other purpose. To the fullest extent perniitted by law, we do not a¢cept or assume responsibility to anyone oih¢r than the Charity and the charity's members as a bodyi for our audit work. for this repon. or for the opinions we have formed. Moshe Broner-cohen (Senior Statutory Auditor) For and on behhlf of Coh¢n Arnold Chartered ac¢ountant5 & siatulory auditor New Burlington House 1075 Finchley Road LONDON NWI I OPU Dale io-
Siva Charitable Futtd Statement of Financial Activities Year ended 5 April 2025 2025 UnTestricted funds Total funds Totsl funds 2024 Nots Income and endowmeDts Investment income 845.641 845,641 845.641 845.641 833,748 833.748 To¢al Income Expenditure Expendi1¢ on raising funds: Investment management costs Expenditure on charitable activities Total expendlture (429.621) (429,621) (429.749) (335.620) (335,620) (264,847) (765.241) (765,241) (694,596) Net Income And ne¢ mov¢ment ill fvDdJ 80,400 80,400 139,152 Rteonclliatlon of fuDds Total funds brought fonvard Total funds ¢arrl¢d forward 5.954,984 6.035.384 5.954,984 6,035.384 5.815,832 5,954,984 The slatement of financial activities includes 811 gains and losses re¢ognised in the year. All income and expenditure d¢Tive from continuing activities. The on p•yi 14 to 23 f•rm part of the ffitt•ncl#l stw¢emeDt$. li
Siva Charitydble Fund Statement of Financi41 Position 5 April 2025 2025 2024 Not¢ Flxed assets Investments 12 9.841,277 9.813.885 Current assets DebtsTS Cash at bank and in hand 13 276,064 2(Kl,488 81,342 170,073 357.406 370,561 14 (1,213,049) (1,399,212) (855.643) (1,028.651) 8,985.634 8,785,234 15 (2,950,250) (2,830,250) 6.035,384 5.954.984 Creditors: amounts flllng due wlthln olle year Net eurrellt Ilabllltles Totil #s8¢ts les8 eurrent Ilabilities Credltors: amounts falllDg due f¢er more than one year Net )iJgets Fund8 of ¢b¢ ¢harlty Unrestricted funds 6.035,384 16 6,035,384 5.954.984 5.954.984 Tot81 eharlty funds These financial statements were approved by the board of I January 2026, and are signed on behalf of the board by: slee$ and authorised for issue on 14 Mr A Klein Trustee te Trustee licht The nottj pages 14 to 23 fom p•rt •f thtAe tln*n¢i4l gtsttments. J2-
Siva Charitable Fund Statement of Cash Flows Year ended 5 April 2025 2025 2024 Cash flows from oper¢lng ¢tlvltles Net income 80.400 139,152 Adjuslmentsfor.. Dividends. interest and rents from investments Other interest receivable and sirnilar income Interesl payable and similar charges Accrued (Inme)/expenSes Changes In.. Tr&de and other debtors Trade and other creditors (843.721) (833.748) (1.920) 96 (30.715) 114 27.740 (75,576) 23,238 4,552 494,109 (866.884) (149.395) (96) {114) 1,920 (865.060) (149,509) Cash generat¢d from operations Interest paid Interest received Nei cash used in operatin8 activities Cash flows from Investlllg #etlvieles Dividends, interest and rents from investments Purchases of other investments 843.721 833,748 (27.392) (860.158) 816,329 (26,410) Net ¢&sh froml(used in) investing activilies Cash flows from financlng 8Ctfvltle8 Proceeds from borrowings Net cash (used in)Ifrom financin8 activities (40,000) (40,000) 340,000 340,000 Net (decreaJe)Ilntrease In cash 8Dd equlvAleDts Cash Ind tilb equlvAlen1s 4t beglnnlng ofyear Cash And ¢a8h equlv8leDts at end of year {88.731) 170.073 81,342 164,081 5,992 170,073 The llotes on pg¢s 14 to 23 fonn pArt ofthe8¢ fN4D¢i#l ittemeDts. 13-
Siva Charitable Fulld Notes to the Financial Statements Year ended 5 April 2025 General InformatloD Siva Charitable Fund is a charity registered in England and Wales and 15 unincorporated. The address of the registered office is New Burlington House. 1075 Finchley Road, London. NWI I OPU. Th¢ presentation currency of these financial staternents is sterling. Statement of eomplianee These financial statements have been prepared in compliance with FRS 102. The Financial Reporting Stand8rd applicable in the UK and the Republic of Ireland,. the Statement of Recommended Practice applicable lo charities preparing their &c¢ounls in accordance with the Financial Reporting Standard applic&ble in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102) and th¢ Charities Act 2011. AccountlDg pollele8 B4Jls of preprAtlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial ass¢ts and liabilities and investment Properties me&sured at fair value through income or expenditure. The financial sialem¢nls prepared in sterling. which 15 the functional currency of the enlity. Going coneerll Notwithstanding the nel current liaibililies, the financial stalements have been prepared in accordance with th¢ accounting principles appropriate to a going con¢¢rn, as the Trustees have a reasonable expeciation that the chariry has adequate resOUeS to continue in operational existence for the foreseeable future by me¢ling its liabilities as they fall due, bas¢d on the current assel position ofthe charity and available sources of finan¢e. The Trustees r¢cognise that they have the ability lo exercise control over the chylrity's grant making charitabl¢ activities due io the absence of any legally binding obligations. Judgements #nd key sources ofestimtion un¢¢rtilllty The preparation of the financial stat¢ments requires management lo make judgements, estimates and &5sumptions thai affect the amounts reported. These estimates and Judgements gre continually r¢viewed and are based on experience 8nd other factors, including expectations of future events that are believed io be reasonable under lh¢ circumstances. Other than those slated below. there were no judgements, estimates and assumptions thal aff¢¢ted the amounts reported in the year. Goverll*ne¢ eo$ts Governance Costs include ihe cost of the preparation and audit of the financial statements and the cost of any legal &dvice to the trustees on governance or ¢onstLtutional matters. Income tax The charity is not liable to direct tsxation (Income T&x} on its income which falls within the various exemptions available lo charities. Some of th¢ charities properties are registered for Value Added Tax (VAT) and therefore able to reclaim input tax it suffers on its purchase. No Deferred t&x is recognised in respect of all timing differences at the reporting date as the chariry is ex¢mption from Capital GaitL Tax (CGD. J4-
Siva Charitable Fund Notes to the Financial Statements Year ended 5 April 2025 Aceountlng poll¢h¢8 Fund Accounting UtU¢slri¢ted funds are available for use at the discretion of the trustees to further any of the charity's pwpos¢s. Designated funds are unre$tri¢led fvnds earniarked by the trustees for particular pn)ject or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the ternis of an app¢al. and fall into one of two sub<lags¢s.' restricted income funds or endowment funds. IDcomlng resource8 All incoming r¢$ouTce5 are included in the stat¢ment of financial activities when entiilemeni h&s passed to the chority. it is probable that the economic benefils asso¢ial¢d with the transaction will flow to the charity and the amount can b¢ reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is reco8nis¢d when there is evidenc¢ of entitlement to the 8ift, receipt is probable and its amoiint can be measured reliably. le8Y in¢om¢ is recognised when receipt is probable and entitlement is established. Income from donated goods is measured at the fair value of the goods unless this is impractical lo rneUre reliably. in which case the value is derived from the ¢05t to the donor or the estimated resale value. Donated facilities and services are recognis¢d in the accounts when received if the value can be reliably meAsured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is re¢ogni5ed with the delivery of the contracted servi¢e. This is classified as unrestricted funds unless there is a Gontractual requirement for it to be spent on a particular puryjose and returned if unspent, in whi¢h ce it may be regarded &% restri¢ted. 15-
Siva CharitAble Fund Notes to the Financial Statemenls (co*liit&e41 Year ended 5 April 2025 A¢covnting polieies fctixIIK#¢rfl Resources txpended Expenditure is recognised on an arualS basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of finan¢ial activities to which il relates.. expenditure on raising funds includes the costs of all fundraising activities. events. non- haritable trading aclivities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its b¢n¢ficiaries, including thos¢ support costs and costs re]lg lo the 8overnance of the charity apportioned to Charitsble activities. other expenditure includes t411 expenditur¢ that is neither related to raising funds for the charity nor part of its expenditure on charitable Ktivities. All costs are allocated to expenditure ¢at¢gories reflecting the use of the resource. Dir¢ct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned b¢tween the activities they contriblrte to on a reasonable. justifiable and con8iStent basis. Investments Unlisted equity investments ar¢ initially recorded at cost. and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at Cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. Investment property Investment properties are properties which are held ¢ither lo earn rental income or for capitsl appreciation or for both. Investment properties are reco8nised inili8lly al cost. Subsequent to initial re¢ognition- i. Any gains or losses arising from chan8es in the fair value are reColSed in the profit and loss account in the period that they arise,. and ii. No depreciation is provided in resp¢ct of investment properties &pplying (h¢ fair value model. Freehold properties held for investment hav¢ been revalued by Mr J Sternli¢ht, a trLLStee, who is considered to have the experience and expertise required to undertake such An exercise. InvutmelltJ In assoclates Knvestments in associates accounted for in accordance with the cost model are recorded at cost l¢ss any accumulated impairnient10sses. Invesiments in &8sociales accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reportins date, the inve5tm¢nts are measured at fair value. with changes in fair value taken through income or expenditur¢. Where it 15 impracticable to measure fail value reliably without undue Cost or effort. the cost model will be adopted. 16-
Siva Charitable Fund Notes to the Financial Stgtements Year ended S April 2025 Accounting pollcle5 (c•KIFK#e41 IDvestment5 ID a550¢i3¢es Dividends and other disiribulions received from the investm¢nl ar¢ recogni5ed as income without regard lo whelher the distributions are from accumulated profits of the associate arising before or after the date of &¢quisition. Invejtments in joint ventures Investments in jointly controlled entities accouftted for in a¢¢ordance with the cost model are recorded al Cost less any accumulated impairnient losses. Investments in joinily controlled entities accounted for in accordance with the fair value model oxe initially recorded at the transaction price. At each repot1ing date, th¢ investments are m¢asured at fair value, with changes in fair value laken through incolne or expenditure. Where it is impr&¢ticable to measure fair value reliably without undue cost or effort. the cost model will be adopted. Dividends and other dislribuiions e1Ved from the investment are recognised as income without regard to whether the disiributions are from a¢cumulaled profits of the joint venture arising before or after the date of acquisition. Impalrmtnt of fixed assets A review for indicators of impaimient is carried oul al each r¢porting date, with the recoverable amount being esiimaled wher¢ su¢h indicators exist. Where the carrying value ¢x¢eeds the recoverable yJnount, the asset is impaired accordingly. Prior impairnients are also reviewed for possible reversal at each reportin8 dale. For the purposes of impaimient testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoveTabl¢ amount of the cash- generaling unil to which the &sset belongs. The Cash-generating unit is ihe smallest identifiable group of assets Ihat includes the asset and generates ¢&8h inflows that largely independent of the cash inflows from other assets or group5 of assets. For impaim)ent testing of goodwill, the goodwill acquired in a business combinFdtion is, from the acquisition date, allocated to each of the c&8h-g¢nerating units that are expected to benefit from the synergies of the ¢ombinatiofy irrespective of whether other assets or liabilities of Ihe Charity are &ssigned to those units. Flnancial instruments A financial a55et or a financial liability is recognised only when the charity be¢omes a party to the contractual provisions of the instrument. B&8ic financial instrumenls are initially recognis¢d at the amount receivable or payabl¢ including any related transaction costs. Curr¢nt &ssets and currenl liabilities are subsequently measur¢d al the cash or other consideration expected io be paid or received and not discounted. Debt instrumenis are subsequently measured at amortlsed cost. 17-
Siva Charitable Fund Notes to the Financial Statements (rwrlln¥vrf) Year ended S April 2025 AceoulltlDg poll¢l¢s (¢oMrtA£d) Fln&llcial instruments fco#ll#xedJ Where investments in shares are publicly traded or Iheir fair value can otherwise be measured Teliably? the investment 15 subsequently rtleasured at fair value with changes in fair Yalue recognised in income and expenditure. All other such investments are subsequently measured at cost less impaimient. Other financial instruments, including derivatives, are initially re¢o8nised at fair value, unless payment for an asset is deferred beyond nornial business terms or finan¢ed at a rate of interest that is not a market rate, in which case the asset is measured at the pres¢nt value of the tUre payments dis¢ount¢d at a market rate of interest for a similar debt iTbsirument. Oiher financial instruments are subsequently me&%ured fair value, with any ¢hange5 re¢ognised in the stotemenl of financial acliviti¢s. with the exception of hedging instruments in a designated hedging relationship. Financial assets that are rneasured at ¢05t or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there 15 objective evidence of impairment, an impainn¢nt loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of signific8n¢e, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial Sets are either assessed IndividulY or grouped on the basis of similar credit risk characteristics. Any reversa15 of impairnienl are recognised immediately. lo the extent th&1 the reversal does not result in a carrying amount of the financial &9sel that exceeds what ihe Carrying amount would have been had the impftim)ent nol previously been reco8ni5ed. Investment Income Unreslricled Total Fundj Unrestricted Totsl Funds Funds 2025 Funds 2024 Income from inveslmenl properties Bank interest receivable 843,721 1,920 845,641 843,721 1,920 845.641 833,748 833,748 833,748 833,748 lllvejtment mnAgement costs Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Portfolio management Rent collection Property repairs and maintenanc¢ Mortgage interest Finance charges 88,081 32,947 32,509 252,421 23.663 429,621 88,081 32,947 32,509 252,421 23,663 429.621 89,944 28,888 27,191 266,344 17.382 429,749 89,944 28.888 27,191 266,344 17,382 429,749 18-
Siva Charitable Fund Notes to the Financial Statements fcoMllv4t&) Year ended 5 April 2025 ExpeDdlture on ¢hritable ¥4Ctivities by fuDd type Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Grants to institutions Support costs 329.700 5,920 335,620 329,700 5.920 335,620 254,600 10,247 254,600 10.247 264,847 264.847 Exp¢nditure on charitable wctlvltles by ictfvlty typ¢ Grant funding of activities Support costs Tot81 fundj 2025 Total fund 2024 Granls to institutions Governance costs 329,700 329,700 5,920 335.620 254,600 10,247 264,847 5.920 5,920 329,700 Analysts of 8UPPOrt ¢ostJ Legal and other professional Accountancy fees fees Audit fees Other finance Costs Tot#1 2025 Total 2024 Governance costs (2,676) 4,000 4.500 96 5.920 10,247 Anlysls of gnnts 2025 2024 GrADti to InsdtutloD8 Amud Halzdokoh Trust Chevrhs Mooz Ladol Congregation Vyo¢l Moshe D'salmar Trust Canyey Kehilla Ltd Friends of Yeshiva Luzern UTRY Limited Vyoel Moshe Charitabl¢ Trust Mar5 Org. Ltd Mesifta Talmudical College JCOCI Educational Foundaiion Ltd Bels Hat&lmud TTU5t Lechem Shlomo Collel Chibath Yerushalayim Other donalions below £7,500 20,000 10,000 3,000 12,500 12,500 150,000 8,500 12,500 10,000 5,000 8,000 7.500 7.500 7.500 10.000 10,000 166.600 254,600 254,600 123.2(M) 329.700 329,700 Totsl granls 19-
Siva Charitable Fund Iyotes to the FiDancixl Statements (¢gHIIAtsd) Year ended 5 April 2025 Analysls of gran¢s (utA&Atred) The grants made during th¢ year were for the following purposes.. 2025 2024 Advancement of Jewish Education Advancement of the Jewish Faith Charilable Purposes TotAI 118.967 100.367 110,306 101,550 57,000 96,050 329.700 254.600 10. Audl¢or8 remuneration 2025 2024 Fees P8yable for the audit of the financial statements 4.500 5,700 11. Trustee remumeratlon Dd expenses The charity has no empluyee$ other than its 3 trustees all of whom give freely their lim¢ and expertise wiihoul any forni of rernuneration or oiher benefit in cash or kind (2024.. £nil). The charity did not meet any expenses (2024 '.£nil) incurred by trustees for services provided to th¢ ¢h8rity. 12. Inv¢stmeDts Investrnenl propertles Cost or valuatloD At 6 April 2024 Additions 9,813,885 27,392 9,841,277 At S Aprll 2025 Impalrm¢nt At 6 Aprll 2024 And S Aprll 2025 CarrylDg amount At 5 AprS12023 At 5 April 2024 9,841,277 9,813.885 All investments shown al)ove are held at valuation. IDvestment prop¢rtl¢J The fair value of the investment pmperty has been arrived at on Ihe basis of a valu&tion cwried at 5th April 2025 by Mr J Sternlicht. a trustee, who is considered to have the experience and ¢xpertise required to undertake such an ex¢r¢lse. -20-
Siva Charitable Fund Notes to Ihe Financial Statements (rMth¥ÉhJ Year ended 5 April 2025 13. Debtor8 202S 2024 Trade debtors Oth¢r debtors 160,753 115,311 276,064 113,357 87,131 200.488 14. Credltors: moynts falliDK due Jvltbln olle yexr 2025 2024 Bank loans and overdrafts Trade ¢r¢ditors Accruals and deferred income So¢ial security and other taxes Amounts due to connected undertAkin8S Other creditors 160.000 6,618 84.584 22.613 1.076,349 49,048 1,399,212 5,059 53,869 19,904 1.079,416 54,801 1,213,049 IS. Credltors: amounts f0111n8 due gfter more thll one yeAr 2025 2024 Bank loans and overdrafts 2,950.250 2,830,250 16. Analyjls of ebArl¢able funds UllreJtrl¢ted fuDd At 6 April 2024 At Income Expenditure S Aprll 2025 General fvnds Fair value reserve 4,113,874 ,841,110 5.954,984 845,641 (765.241) 4,194,274 1.841,110 (765,241) 6.035,384 845.641 At 6 April 2023 At Income Expenditure 5 April 2024 General funds Fair value reserve 3,974.722 1,841.110 5,815,832 833,748 (694.596) 4,113,874 1,841,110 (694,596) 5,954,984 833,748 -21-
Siva Charitable Fund Notes to the Financial Statements (tOAllttuedJ Year ended S April 2025 17. Analysis of Det assets between fund8 Unrestricted Total Funds Funds 2025 Tangible fixed assets Current assets Creditors less thmn l year Credilors greater than l year Net Assets 9,841.277 9.841,277 357,406 357,406 (1,213,049) (1,213,049) (2,950.250) (2,950,250) 6,035.384 6,035.384 Unrestricted Tolal Funds Funds 2024 Tangible fixed se¢S Current assets Creditors less ihan l year Creditors greater than l year Net sJeti 9,813,885 9.813,885 370.561 370,561 (1,399.212) (1,399,212) (2,830.250) (2,830,250) 5,954,984 5,954,984 18. FID4Del41 InJtrumtlltJ The ¢arryin8 amount for ch category of financial instrument is as follows: 2025 2024 Finanelal aMet5 tbt are debt In8¢rumeDts measured al 8mortlsed cost Financial assets that are debt instruments measur¢d at amortised sl 351,907 364.634 Flnan¢l•l 11gbllltles measured at mortlsed Cost Finan¢ial liabilities measured at amonised c05t 4,148,192 4,206,849 19. ADalyili of chnges In net debt At At 6 Apr 2024 Cash flows 5 Apr 2025 Cash at bank and in hand tkbi due within one year Debt due after one ye 170.073 (88,731) (160.000) 160,000 (2,830,250) (120.000) {2,950,250) (2.820.177) (48,731) {2,868,908) 81,342 22-
Siva Charitable Fund Note5 to the FinAncial Statements Year ellded 5 April 2025 20. Related p*rtlt8 Included in grants lo institutions 15 the following donations made to related parties.. £2,500 (2024.. £NiL) to Bei5 Ruchel D'satM (London) Limited. £5,000 {2024: £5,000) rnade to Satmar NuTS¢ry TTUSt. £5.000 (2024.. £5.000) made to Talmud Torah Education Limited, £Nil (2024: £12.500) made to UTRY. £NiI (2024: £10.000) mad¢ to Vyoel Mosh¢ Charitable Trust. £Nil (2024: £5,000) fo Y G S Yeshiva Gedola Seminor and £5.000 (2024.. £5,000) to Yeshiva Gedollah Torah Veyirah Limited. These charities have Trustees or family m¢mbers who are Trustees in common with Siva Charitable Fund. Th¢ amoun15 due to connected undertakings include £4,276 (2024: £4,276) due to Merlina Limited, £60,000 (2024.. £60,000) due to Severnate Co. Limited, £690,000 (2024: £430,000) due to Ashbridge Properties Limiled, £80,000 (2024: £80.000) due lo Bakerloo Limited, £220,833 (2024.. £220.833) due lo Worldstar Properties Limited, £3.953 (2024: £3.240) due to Resp¢¢t Properties Limited £2,354 (2024.. £Nil) due to Brightwood Properties Limited and £18,000 (2024.. £18.000) due to Newincco 824 Limited. The Trstees are numbered amongst the directors of these companies. All loans are interest free and repayable on demand. 23-