CIIARITY RECL￿RATIoN 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 *dmllllstr*tlve 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 tn￿t for the beneficial owner Siva Charitable Fund. All income and expendi￿re 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$teu' Annual Report (¢yntkn*td) Year ended S April 2025 Struetur¢y governance And mAn&gemeDt (cMhoxt41 Rlsk Management The trustees have identified and reviewed the major risks to which the ch￿lty is ¢xposed, in particular Ihose r¢l&l¢d to the operations and finance of the charity. and are sali5fied that systems are in place to mitigate those risks. FID*ncl41 rlsk management and pollcles The charity holds or issues financial instruments in order to achieve thr¢e main objectives being.. a) lo finance its operations b) to manage its exposure to interest and ¢urr¢n¢y risks arising from operations and from ils sources of finAnc¢' and ¢) lo generate funds. Irt addition various financial instruments (e.8. debtors. ¢r¢ditors, prepayments and accrLMls) arise directly from the charity's operations. Credlt Rlsk The charity monitors credit risk closely and considers that its current policies of ¢redil risk checks meets its objectives of managing exposure to cr¢dit risk. The charity has no significant concentrations of credit risk. Amounts shown in the balance sheet represent the maximum anticipated credit risk exposure. It is recognised that Sy￿emS can only provide reasonable bul nol absoluie ￿S￿ranGe th major riskg have been adequalely managed. ObJeetlv¢s And a¢tlYltles Ch*rl¢able Objectlvei The charity'$ 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. Flll*ncial 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* Y￿r 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 st*temeDt 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) Ye￿r ended 5 April 2025 The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's tr￿n￿tionS 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 t￿ste¢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 ch￿Ity'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 S￿li0n￿ 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 ￿s￿ranCe 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 d￿e¢l non-compliance with all laws and re8ulations. Siva Charitable Fund Independent Auditor's Report to the Members of Siva Charitydble Fund fro￿*￿tI) 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 re￿Onab1CneYS 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 Expendi￿1¢ 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$. li Siva Charitydble Fund Statement of Financi41 Position 5 April 2025 2025 2024 Not¢ Flxed assets Investments 12 9.841,277 9.813.885 Current assets DebtsTS Cash at bank and in hand 13 276,064 2(Kl,488 81,342 170,073 357.406 370,561 14 (1,213,049) (1,399,212) (855.643) (1,028.651) 8,985.634 8,785,234 15 (2,950,250) (2,830,250) 6.035,384 5.954.984 Creditors: amounts f*lllng due wlthln olle year Net eurrellt Ilabllltles Totil #s8¢ts les8 eurrent Ilabilities Credltors: amounts falllDg due *f¢er more than one year Net )iJgets Fund8 of ¢b¢ ¢harlty Unrestricted funds 6.035,384 16 6,035,384 5.954.984 5.954.984 Tot81 eharlty funds These financial statements were approved by the board of I January 2026, and are signed on behalf of the board by: slee$ 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 (In￿me)/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 p*g¢s 14 to 23 fonn pArt ofthe8¢ fN4D¢i#l it*temeDts. 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 prep*rAtlon 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 resOU￿eS 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 ofestim*tion 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