CHARITY REGISTRATION NUMBER: 2731195
PORAT YOSEF FUND NUMBER ONE ACCOUNT
UNAUDITED FINANCIAL STATEMENTS
31 DECEMBER 2023
COHEN ARNOLD
Chartered Accountants
New Burlington House
1075 Finchley Road
London
NWI I OPU

PORAT YOSEF FUND NUMBER ONE ACCOUNT
FINANCIAL STATEMEIYTS
YEAR ENDED 31 DECEMBER 2023
Page
TNstees' annual report
Independcnt examinees report to the trustees
ststement of financial activities
Statement of financial position
Notes to the financial ststements

POIL4T YOSEF FUND NUMBER ONE ACCOUNT
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2023
The tn￿teeS present their report and ihe unaudited financial statemenls of the charity for the year
end¢d 31 December 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Porai Yosef Fund Number One Account
Registered eharlty n*me
Charlty registratlott number
Prlnclpal offi¢¢
273095
6 Albert Court
Prince Consort Road
London
SW7 2BE
THE TRUSTEES
MrMSLStern
Mr A T Cohen
Mr D Rabson
INDEPENDENT EXAMINER D Goldberg. FCA DChA
New Burlington House
1075 FI￿hleY Road
London
NWII OPU
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Porat Yosef Number One Account was set up by the Settlor, Ralphe Moisc Sassoon, by
Declaration of Trusl dat￿ 18 August 1970.
The Trust Deed directs that the original sum settled and such other funds or prottrty and all
subscriptions and donations which rnay be paid or transferred for the purposes ofthe charitable object5
declared shall be held and applied for the Charity. The Charity created by the Deed is to be
administered under the lille of 'Por&t Yos¢f Fund,.
The Trust owns th¢ freehold iiile5 to the pro￿rtieS known as Yeshivot of Porat Yosef in Jerusalem,
Israel. The value of the properties is not known and has not been included in the annual accounts,
oiher than this not¢ in the Trustees, Report.
Th¢ board of Trusrees wnsists of ihree Truste¢5.
New Trustees are found from the contacts and nettworks of existing Trustees. When recruiting n¢w
Trustees, the board looks for individuals Wlth ski115 and experience which are of value to the Charity.
Any potential Trustees will be interview¢d by the existing Trustees And provided with a pack of
inforniation including accounts and a copy of the Intsl deed.
The Trustees are eX￿rIenced individuals and have a good understanding of what is involved in being
a Tru51ee of a Charity. When appropriate, the Charity supports the training of Tru51ees including? for
example, &ttetMlanc¢ at seminar5.
The Trustees meet regularly during the year to consider r¢commendations for, and Tnake final
decisions on, the owarding of granis.

POK4T YOSEF FUND NUMBER ONE ACCOUNT
TRUSTEES, ANNUAL REPORT (Comtlttue
YEAR ENDED 31 DECEMBER 2023
Risk Management
The Truslees have assessed the major risks to which the ch8rity is exposed. in particular those relaled
to the operation and finances of the Trust, and are satisfied thai systems are in pla¢e to rnitigate
exposure to the major risks.
OWECTIVES AND ACTIVITIES
The Trust directs the Trustees shall apply the income of the Charity for the malthena￿e, upkeep and
benefit of the Institulion in Isr8el known as Midrdsh Porat Yos¢f (a150 known ag the Federation
Yeshivot of Porni Yoseph). established and dedicated for the benefit of the Jewish community in
Jerusalem.
Publlc Benefit
The trustees confimi thelr compliance with the dury to have due regatd to the public benefit guidance
published by the Charity Commission when reviewing the Charity's aims and objectives and in
planning future activities.
ACHIEVEMENTS AND PERFORMANCE
During the year the charity continued to review ils investments with the aim of applying funds in
furtherdnce ofiis objeciives.
Don&tions paid during the year amounted to $100,000.
FINANCIAL REVIEW
Ai 31 December 2023 the Charity had $1,511.703 Unrestricted Funds. The Trustees have noi enlered
into any commitments which would affect the financial position of the Charity.
Reserves pollcy
The Trustees, policy is to maintain a minimum reselve to cover fluctuations in income.
Investment Pollcy *nd Performance
In accordance with the Trust Deed, the Trustees have power to invest in su¢h stocks, funds. shares.
securities or other investmenl or property of whatsoever nature and wheresoever situate as they see fit.
The Trustees have engaged Cazenove Capital M8nagement as investmenl rnanagers. The Policy is to
adopt a low to medium risk investm¢nt strategy. Th¢ investment obje¢tiv¢ is to maximise income and
c&pital in the medium term lo be achi¢ved through a balanced portfolio of equities, bonds and cash.
PLANS FOR FUTURE PERIODS
Th¢ charity is Managed with a view to it b¢in8 able to continue its 74clivities in the future.

PORAT YOSEF FUND NUMBER ONE ACCOUNT
TRUSTEES, ANNUAL REPORT (conflNivd)
YEAR ENDED 31 DECEMBER 2023
The tnL8tees' annu￿ report W&8 appToved on 24 July 2024 and signed on behalf of the trA)8rd of tnLStees
MRMSLSTERN
Trustre

PORAT YOSEF FUND NUMBER ONE Accouwr
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PORAT YOSEF
FUND NUMBER ONE ACCOUNT
YEAR ENDED 31 DECEMBER 2023
I report to the trustees on my examIn￿10n of the financial statements of Porat Yosef Fund Number
One Account ('the charity,) for the year ended 31 December 2023.
RESPONSIBILITIES AIYD BASIS OF REPORT
As the trustees of the charity you are responsible for the preparation of the financial statements in
accordance with the requirements of the Charities Act 2011 ('Ihe Ad,).
I report in respecl of my examination of the charity's financial statements catTied oui under section 145
of the 201 l Act and in carrying out my examination I have followed all the applicable Directions
given by lh¢ Charity CoTn5nission under section 145(5Kb) of ihe Act.
INDEPENDENT EXAMINER'S STATEMENT
I have ¢ompleted my examination. I confirni that no material matters have come io my attention in
connection with the examination giving me to believe that in any material respect..
accounling records were not kept in respect of the charity a5 required by section 130 of the
Act: or
the financial sÉatem¢nls do not accord with those records. or
th¢ financial slalements do not comply with the appli￿ble requirements concerning the
romi and content of accoun15 sei out in the Charities (A¢counts and Reports) Regulations
2008 other than any requiTerneni that the accounts give a 'true and fail view which is not a
matrer Considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination lo
whiLh attention should be drawn in this report in order lo enable a proper understanding of the
ac¢ounts to be re￿h¢d.
DA
Inde
ID
DBERG, FCA DCHA
Examiner
urlington I lous¢
1075 Fin¢hley Road
London
NWII OPU
24 July 2024

PORAT YOSEF FUND NUMBER ONK ACCOUNT
STATEMEiYf OF FINANCIAL AcfivITIES
YEAR ENDED 31 DECEMBER 2023
2023
Unrestri¢ted
funds Totsl funds Total funds
2022
No
INCOME AND ENDOWMENrs
Investment incoTne
28.728
28,728
28,728
26,967
26,967
TOTAL INCOME
28.728
EXPENDITURE
Expendiiure on raising funds..
Investment management costs
Expenditure on ¢haritsble activities
TOTAL EXPENDITURE
(7,497)
{7,497}
(102,901) (102,901}
(110.398) (I IOJ98)
(11.165)
(2.217)
(13.382)
Nel 8ainsl(losses) on investments
111.290
111,290
(210.740)
NET INC.OMEI(EXPENDITURE) AND NET
MOVEMENT IIY FUNDS
29,620
29.620
(197.155)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED VORWARD
1,482.083
.511,703
1,482,083
1,511,703
1,679,238
1.482,083
The statement of financial activifies includes all gains and losses rccognised in the year.
All income and ¢xpenditure derive from continuing activities.
The ttoies on pA¥es 7 10 12 fDrm p*rt of these Iln*ncial tstitemen

PORAT YOSEF FUND NUMBER ONE ACCOUNT
STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023
2013
2022
FIXED ASSETS
Investments
12
1242,582
1,074,070
CURRENT ASSETS
Debtors
Investrnents
Cash at bank and in hand
13
14
40￿(￿10
400.O¢J)
30,000
94,426
35,668
435,068
524,426
CREDITORS: AMOUNTS
FALLING DUE WITHIN ONE
YEAR
Is
(166,547)
(116,413)
NET CURRENT ASSETS
269,121
408,013
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,511.703
1,511,703
1,482,083
1,482.083
NET ASSETS
Funds of the ehArlty
Unrestricted funds
1511,703
1511,703
1.482.083
1.482.083
TOTAL CHARITY FUNDS
16
These financial statements were approved by the board of trLLStees and authorised for issue on 24 July
2024. and are signed on tehalf of the board by:
MRMSLSTERN
Trustee
Tht •otu on ￿1¢$ 7 to 12 form p•rt ofthtse finantial slat¢mcnt

PORAT YOSEF FUND NUMBER ONE Accouiyr
NOTES TO THE FIIYANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
GENEIL4L INFORMATION
The charity is a public benefit entity and a registered Ch￿1¢Y in England and Wales and is
unincorporated. The address of the principal office is 6 Alixrt Court, Prince Consort Road,
London. SW7 2BE.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in Compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Sthtement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Rewrting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (Charities
SORP (FRS 102)) and the Charities Act 2011.
ACCOUNTING POLICIES
Basls ofprepAratlon
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of ttrtain financial asseis and liabilities me&sured at fair value through income or
expenditure.
The financial slatements are prepared in US Dollars which is Ihe functional CUfTency of th¢
entity.
Golni ¢oncern
There are no material uncertainties about the charity's ability lo continue.
JudgemeThtS And key sourcu of ￿tImAtIOn un¢¢rtalnty
There are no judgements, eslimat¢s and assumptions that affeci the amounts rep￿ed.
Forelgn currencl
Foreign curren¢y transactions are iniiially recorded in the functional currenLy, by applying the
5poI exchange rate as at the dale of the trdnsaction. Monetary assets and liabilities denominated
in foreign currencies 8Je translated al the exchange rale ruling at the reporting date, with any
gains or losses being iaken to the ststement of financial activities.
Fund accollntlng
Unrestricted funds are available for use at th¢ discretion of th¢ trustees to further 8ny of the
charity's purposes.
Designated funds are unrestricted funds earniarked by the trustees for a particular future projeci
or commitment. There are no designated funds as al the balance sheet date.
Restricted funds are subje¢led to restTiClion5 on their exrKndilure declared by the donor or
through the tems of an appeal, and fall into one of htyo sub-classe5.' restricted i￿Ome funds or
endowment funds. There are no restricted funds as at the balance sheet date.
Incoming resource5
All income is included in the statement of financial a¢tivities when entitlement has passed to the
charity, it is probable that th¢ economic benefits associated with the transaction will flow to the
¢harity 2nd ihe amouni Can be reliably measured.

PORAT YOSEF FUPID NUMBER ONE ACCOUNT
NOTES TO THE FINANCIAL STATEMENTS (cONlin￿J
YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES (conrtlnAed)
Resour¢es expended
Expenditure is recognised on an accnjals basis as a liability is incunrd. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the Sthlement of
financial a¢livities to which it relates.
Expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the b¢n¢fit of its beneficiaries, including those
support Costs and costs relating to the governance of ihe charity apportioned lo charitable
activities.
Investment$
Listed inve5trnenls are measured 841 fair v8lue with change5 in fair value being recognised in
profit or loss. Reali5ed gains and losses on investments are Calcul￿ed based on ihe opening
market V8dlue. Unrealised gains and losses on investments are ¢al¢ulated as the differen¢e
between the ¢8rrying valuaiion of investments al th¢ balance sheet date and the original cost in
Ihe case of investments puKh￿ed during ihe year and otherwise on the differ¢nce ￿tween
current valuation and the previous valuation.
Flnan¢io1 Instruments
A financial asset or a financial liability is reco¥nised only when the entity becomes a party lo the
contractual provisions of the instrument.
Basic financial instruments are initially recogni5ed al the amount receivable or payable including
any related tvdnsaction costs, unless the arrangement constitutes & financing transaction, where il
is rccognised at the pre5eni value of the future payments disCOUllted al a market ral¢ of interest
for a similar debt instrument.
Current assets and current liabilities are Subsequently me&sured at the c&8h or other consideration
expected to be paid or received and not discounted.
Debt instruments are $ubsequeni5y measured at amortised cost.
Where investments in shares or preferen¢¢ shares are publicly traded or their fair value can
otherwise be med5ured reliably, Ihe investment is subsequently measured at fair value with
changes in fair value re¢ognised in income and expenditure. All other such investments are
subsequently measured at cosi less impaijinent.
INVESTMENT INCOME
Unrestricted Totsl Funds Unrestricted Total Fund5
Funds
2023
Fund5
2022
Income frorn UK quoted investments
Income from non-UK quoted
investTnents
1,792
1,792
2,034
2,034
26,936
28.728
26,936
24.933
24,933
26,967
28,728
26,967

PORAT YOSEF FUND NUMBER ONE ACCOUNT
NOTES TO THE FINANCIAL STATEMENfs
YEAR ENDED 31 DECEMBER 2023
INVESTMENT MANAGEMENT COSTS
Unreslricted To¢•1 Funds Unrestricted Totsl Funds
Funds
2023
Funds
2022
Portfolio managern¢nt
7.497
7497
11.165
11.165
EXPENDITURE ON CHARITABLE AcfivJTIES BY FUND TYPE
Unrestricted Total Fund$ Unresiricied Total Funds
Funds
2023
Funds
2022
SuptM)rt of Midrash Porat Yosef
Support costs
100,000
2,901
102,901
Iw),000
2,901
102,901
2.217
2.217
2,217
2.217
EXPENDITURE ON CHARITABLE ACTIVITIES B Y ACTIVITY TYPE
Activities
undertaken
direcily Support costs
Total funds
2023
Total fund
2022
Support of Midraqh Pordt Yosef
Governan¢¢ ¢osts
100,000
ioo,ooo
2,901
2,901
2,217
100,000
2.901
102,901
2,217
NET INCOMEI{EXPENDITURE)
Nel incomel(expenditure) is stated after charginW{crediting):
2023
2022
Foreign ex¢hange differences
303
(247)
INDEPENDENT EXAMINATIOIY FEES
2023
2022
Fees payable to the independent examiner for:
Independent examination of the financial staternents
2.464
10. STAFF COSTS
No salaries or wages have been paid to employees during the year.
11. TRUSTEE REMUIYERATION AND EXPENSES
No irustees received any remuneration during the year. The charity did not meet 8ny individual
expenses incurred by the trustees for services provided to the ¢harity.

PORAT YOSEF FUND NUMBER ONE ACCOUNT
NOTES TO THE FINANCIAL STATEMENTS (coAlln4e
YEAR ENDED 31 DECEMBER 2023
12. INVESTMENTS
Non-UK
quoted UK quoted
Investments investments
Totsl
Falr value
Al l January 2023
Additions
Disposals
Fair value movements
1,047.476
180,675
(124,051)
108.607
1,212,707
26,594
1,074,070
180,675
(124.051)
111,888
3,281
At 31 December 2023
29.875
1,242J82
Carrylng amoun¢
A¢ 31 De¢¢mb¢r 2023
1,212.707
29.875
1,242J82
At 31 December 2022
1,047.476
26,594
1,074,070
All investment5 shown above ar¢ held at valuation.
Flnan¢l41 ass¢ts h¢ld gjt falr value
All investments are ¢aJTied at their fair value. Fair value at 31 December 2023 is determined
USill8 quoied Pri￿$. The hislori¢al ¢ost of investrnents is $1.048.855 (2022.. $1,003,140).
13. DEBTORS
2023
2022
Other debtors
400,IH)O
400,000
Other debtors include an arnount of $400,(N)0 (2022: $400,000) due from Midrash Pordt Yosef.
14. INVESTMENTS
2023
2022
Other investtnents
30,000
I& CREDITORS: amounts falling due wlthln one year
2023
2022
Accn]als and defetTed incorne
Other creditors
2398
163,949
2.464
113,949
16W7
16,413
her creditors include an amount of S163,949 (2022.. $113.949) due to the Pornt Yosef FLmd
Number Two Account.
io

PORAT YOSEF FUND NUMBER ONE ACCOUNT
NOTES TO THE FINANCIAL STATEMEiYfs (conth4ed)
YEAR ENDED 31 DECEMBER 2023
16. ANALYSIS OF CHARITABLE FUNDS
Unrestrlcted funds
At
l January
2023
At
Gains and 31 December
losses
2023
In¢om¢ EX￿ndIt￿re
General fjjnds
1,482,083
28.728
(110.398)
111,290 1511,703
At
l January
2022
At
Gains and 31 December
losses
2022
Incorne Expenditure
General fund5
1,679,238
26.967
(13,382) (210,740) 1,482,083
17. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestric*d To141 F￿ndS
Funds
2023
Inve5tm¢nls
Cu￿ent assets
Creditors less than l year
Net assets
1,242,582
1,242,582
435,668
435,068
(166.547) (166,547)
1,511,703
1,511,703
Unreslricled Total Funds
Funds
2022
Investments
Current assets
Creditor5 less than l year
Net assets
1.074.070
1,074.070
524.426
524.426
(116,413) (116,413)
1.482,083
1.482,083
I& FINANCIAL INSTRUMENTS
The carrying amouni for each category of financial instrument is as follows:
2023
2022
FlnanclAI assets measured at fair value through Income •nd ¢xpendlture
Financial ￿etS measured at fair value through ineome and
expendiiure
1,07I070
1,074.070
Flnan¢lal agsets ¢ho18r¢ debt inslrnments measured at amorti8ed cost
Financial &ssets that are debt instruments measured at amortised
cost
400.000
400.000
Financial liabilities Me￿llred at Amortlsed ¢ost
Financial liabiliti¢s measured at amortised cost
11&413
116,413

PORAT YOSEF FUND NUMBER ONE ACCOI)NT
NOTES TO THE FINANCL4L STATEMENTS (
YEAR ENDED 31 DECEMBER 2023
19. RELATED PARTIES
There weTe no Telaied paty ttMns&clion5 duting the year under review.
12

CHARITY REGISTRATION NUMBER: 273095
PORAT YOSEF FUND NUMBER TWO ACCOUNT
UNAUDITED FINAIYCIAL STATEMENTS
31 DECEMBER 2023
COHEN ARNOLD
Chartered Accountants
New Burlington House
1075 Finchley Road
London
NWI I OPU

PORAT YOSEF FUND NUMBER TWO ACCOUNT
FINANCIAL sTATEME￿s
YEAR ENDED 31 DECEMBER 2023
Page
Trustees, annual report
Independent examiner's report to the trustees
Statement of financial activities
Stat¢m¢nt of financial position
Notes to the financial statements

PORAT YOSEF FUND NUMBER TWO Accouiyr
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2023
The trustees present their report 8nd the unaudit¢d financial statements of Charity for the year
ended 31 December 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Porat Yosef Fund Number Two Account
Registered chArlty nam¢
Charity reglstrltion number
Principal offl¢e
273095
6 Albert Court
Prince Consort Road
London
SW7 2BE
THE TRUSTEES
MrMSLStern
Mr A T Cohen
Mr D Rabson
Independent ex*mlner
D Goldberg. FCA DChA
New Burlington House
1075 Finchley Road
London
NWII OPU
STRUCTURE, COVERNANCE AND MANAGEMENT
The Porat Yosef Fund Number Two Account was set up by the Settlor, Ralphe Moise Sass00￿ by a
Declar81ion of Trust dated 18 August 1970.
The Trust Deed direcis that the original sum settled and suLh other funds or property and all
subscriptions and donations which may be paid or transferred for lh¢ purwses of the charitable objects
de¢lared shall be held and applied for ihe Charity. The Charity created by the Deed is to be
administered under the title of 'Pordl Yosef Fund,.
The Trust owns the freehold titles to the properties known as Yeshivot of Porat Yosef in Jerusalem.
Israel. The value of the Properties is noi known and has not been included in the armual accounts,
other than this note in the Trustees, Report.
The board of Trustees consists of three Trustees.
New Trustees are fouThJ from the contscls and networks of existing Trustees. Wh¢n recruiting new
Trusiees, the board looks for I￿liVIdual5 with skills and experien¢e which are of value to the Charity.
Any potential Trustees will b¢ interviewed by the existing Trust¢e5 and provided with a p&ck of
infornialion including accounts and a Copy of the Trusi Deed.
The TnJst¢es are eX￿rienCed individuals and have a good understanding of what is involved in being
a Trustee of a charity. When appropriate, the Charity SUPPOrts the training of Trustees including> for
example, attendance al seminars.
The Truste¢s meet regularly during the year lo consider re¢ommendations for. and make final
decisions on, the awarding of grants.

PORAT YOSEF FUND NUMBER TWO ACCOUNT
TRUSTEES, ANNUAL REPORT (cpRlht￿￿j
YEAR ENDED 31 DECEMBER 2023
(com11N￿l}
Risk Management
The Trustees have assessed the major risks to which the Charity is exposed, in particular ih05¢ related
io the operation and finances of the Trust, and are satisfied that systems are in place lo mitigate
exposure lo the major risk5.
0￿ECTIVEs AND ACTIVITIES
The Trust directs the Trustees shall apply the income of the Charity for the maintenance, upkeep and
benefit of the Instilution in Israel known as Midrash Pornl Yosef (also known as the Federdtio
Yeshivol of Pordt Yoseph), established and dedicated for the benefit of the Jewish Communiry in
Jetwsalem.
Public Benetit
The trustees confirm iheir compliance with ihe duty to have due regard to the public benefil guidance
published by the Charity Commission when reviewing the Charity's aims and objectives and in
planning fuiure a¢tivities.
ACHIEVEMENTS AND PERFORMANCE
During the year ihe charity continued lo review its irtvestmenls with the aim of applying funds in
furtherance of its objectives.
During the year, Ihe charity recognised S100,O(10 as a donation to Midrash Porai Yosef. Thi5 Was
previously held as a loan.
FINANCIAL REVIEW
At 31 December 2023 the Charity had $1,079,019 Unrestricted Fund5. The TNslee5 have not entered
into any commitments which would affect the financial position of th¢ Chllrity.
Reserves poltcy
The Tr￿Slee5, policy is to maintain a minimum reserve io cover fluctuations in income.
Investment Polley and Perform*nee
In accordance with ihe Trust Deed, the Trustees have power lo invest in such stocks. funds, shares,
securities or other investment or property of whatsoever nature and wheresoever situate as they see fit.
The Trustees have engaged Cazenove Capital Management as investment managers. The Policy is to
adopt 8 low to medium risk investment strntegy. The inv¢slment objectiv¢ is to maximise in¢ome and
capital in the medium terni to be achieved through a b￿anCed portfolio of equities, bonds and cash.
PLANS FOR FUTURE PERIODS
The chariry is managed with a view to it being able to ¢ontinue its M¢tivitie5 in the future.

POIL4T YOSEF FUND NUMBER TWO AccouNr
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2023
The In￿tees. ann￿] rewrt was approved on 24 July 2024 and $i￿d on behalf of the board of truste
/è/A z
MRMSLSTERN
Ttustee

PORAT YOSEF FUND NUMBER TWO ACCOUIYT
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PORAT YOSEF
FULYD NUMBER TWO ACCOUIYT
YEAR ENDED 31 DECEMBER 2023
I report to the trustees on my examination of the financial statements of Porai Yos¢f Fund NumE*r
Two Account ('the Charity,) for the year end¢d 31 December 2023.
RESPONSIBILITIES AND BASIS OF REPORT
As the trustees of the Charity you are responsible for the preparation of the financial st&l¢ments in
accordance with ¢h¢ requirements of the Charities Ad 2011 {'the Act,).
I report in respect of my examination of the Charity'g financial statemenis ¢arried out under se¢tion
145 of the 201 l Act and in carrying out my examination I have followed all the applicable Directior15
given by the Charity Commission under section 145(5)(b) of the Act.
INDEPENDENT EXAMINERIS STATEMENT
I have compleled my examination. I confimi that no material matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in Tespecl of the Charity as required by section 130 of the
Act,. or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the
fomi and Content of accounts set out in the Charities (Accounts and Reports) Regulations
2008 other than any requirement that the accounts give a 'true and fail view which is not a
matter considered as part of an independeni examination.
I have no ¢oncerns and have come acros5 no other matters in connection wilh the examination to
which attention should be drawn in this report in nrder to enable a proper und¢rstandin8 of Ihe
accounts to be reached.
RG, FCA DCHA
nt F,xaminer
Indepen
urlington House
1075 Finchley Road
London
NWI I OPU
24 July 2024

PORAT YOSEF FUND NUMBER TWO ACCOUNT
STATEMENT OF FINANCIAL ACTIVITtES
YEAR ENDED 31 DECEMBER 2023
2023
Unrestricted
funds Total funds Toial funds
2022
N•t¢
INCOME AND ENDOWMENTS
Investment income
21,436
21.436
21,436
21,436
20,417
TOTAL INCOME
20,417
EXPENDITURE
Expenditure on raising funds:
Investment management costs
Expenditure on charilable activities
TOTAL EXPENDITURE
(5,399)
(5,399)
(112,005) (112.005)
(117,404) (117,404)
(7,908)
(2,215)
(10.123)
Nel gainQ(losses) on investments
79,680
79,680
(151,258)
NET EXPENDITURE AND NET MOVEMENT IN
FUNDS
(16,288)
(1&288) (140,964)
RECONCILIATION OF FUNDS
Total funds brought fonvard
TOTAL FUIYDS CARRILD FORWARD
1,095,307
1,079.019
1,095,307
.079,019
1.236,271
1.095.307
The stalement of financial activities includes &ll gains gnd10sse5 reco8nised in the year.
All income and expendiiure deriv¢ from coniinuing activities.
The Thott$ 011 P*8t8 7 10 12 foTm part of the* finary¢i21 ststemertt$.

PORAT YOSEF FUND NUMBER TWO ACCOUNr
STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023
2023
2022
No
FIXED ASSETS
Inve5tsnents
13
900,500
788.387
CURRENT ASSETS
Debtors
Investments
Cash at bank 2nd in hand
14
15
163,949
223.054
11.000
75,330
17,168
181,117
309.384
CREDITORS: AMOUNTS
FALLING DUE WITHIN ONE
YEAR
16
(2,598)
(2,464)
NET CURRENT ASSETS
I78￿19
306,920
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,079.019
1,079.019
.095,307
NET ASSETS
1,095,307
FUNDS OF THE CHARITY
unre￿ric*d funds
1,079,019
1.095,307
TOTAL CHARITY FUNDS
17
1,079,019
1.095.307
These financial statements were approved by the board of trustees and authorised for issue on 24 July
2024. and are signed on beh&lf of the Ix)ard by:
MRMSLSTERN
Trustee
Tht notes tsn paw 7 to 12 forni part ofthe5e f•nan¢knl st4terntTht

PORAT YOSEF FUND NUMBER TWO ACCOUNT
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
CENERAL INFORMATION
The Charity is a public benefit entity and a registered charity in England and Wales and is
unincorporaied. The address of the principal office is 6 Al￿rt Court. Prince Consort Road.
London. SW7 2BE.
STATEMENT OF COMPLIANCE
Thes¢ financial statements have been prepared in compliance with FRS 102, 'The Financia]
Reporting Standard applicable in the UK 8nd the Republic of Ireland,, the Statement of
Re¢omm¢nded Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in rhe UK and Republic of Ireland (FRS 102) (Charities
SORP (FRS 102)) and the Charities Act 201
ACCOUNTING POLICIES
Boslg of preparntlon
The financial statements have been prepared on the historical cosi basis, as modified by the
revaluation of Certain financial ￿setS and liabiliiies me&8ured at fair value thTough income or
expenditure.
The financi81 statements are prepared in US Dollars which is the fun¢lional currency of the
entity.
Golng Concer
There are no material uncertainties about the charity's ability to continue.
Judgements and key sour￿5 of estlmxtion uncertalnty
There are no judgements, estimates and assumptions that affect ihe amouT)ts reported.
Forelgn ¢urr¢ncle
Foreign curren¢y transactions ore initially recorded in the functional currency? by applying the
spot exchange Tate as at the dale of the trnnsaction. Monetary assets and liabilities denominated
in foreign currencie5 are translated at the ex¢hang¢ rate ruling al the reporting dale, with any
gains or lo&se5 being taken to the statement of financial activities.
Fund *ccounting
Unrestricted funds are available for use at the discrdion of the irustees to further any of the
charity's purposes.
Designated funds are unre51ri¢ted funds e&nnarked by the trustee5 for parti¢ular future project or
COTnmiiment. There are no de5i8nated funds a5 at the balance sheet dAIe.
Restticted funds are subjected to restrictions on their expenditure declared by the donor or
through the ternis of an appeal, and fall into one of hvo sub-classe5: r¢slricted incoTn¢ funds or
endowment funds. There are no restricted funds as at the balance sheet date.
IDcomiTrg resour¢es
All income is included in the statement of financial activities when entitleTnent has passed to the
charity, it is Probable that the e¢onomic benefils associated with the Iransa¢tion will flow to the
charity and the amount cfin be reliably measured.

PORAT YOSEF FUND NUMBER TWO ACCOUNT
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES ieontljwed)
EKpendi¢ure
Expendilure is re¢ognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannoi be fully recovered. and is ¢lassifi¢d under h¢adings of the statement of
financial activities to which it relates.
EX￿ndItUre on charitable activities includes all costs incutTed by a charity in undertaking
aclivilies that further its charitable aims for the benefit of its beneficiaries, including those
support cosis and cost5 relaiing to the governance of the charity aptM)rtioned lo clwitable
activities.
Investments
List¢d investments are measured al fair value with changes in fair v&lue being recognised in
profit or loss. Realised gains and losses on investments are calculated based on the opening
market value. Unrealised gains and 1055es on investments are calculated as the difference
between th¢ carying valuation of investTnents gt the balance sheet date and the original cost in
Ihe case of investments purchased durin8 the year and otherwise on the differersce Eetween
current valuation and lh¢ previous valuation.
Financial instruments
A financial asset or a finan¢ial liability is recognised only when the entity becomes a party to the
contractual provisions of the instrument.
Basic finan¢ial instruments are initially reco8ni5ed al the amount receivable or payable including
any related transaction costs, unless the arrangement Consiilutes a financing Iransaction, where it
is recognised at the present value of the future payments discounted al a market rate of interest
for a similar debi instrument.
Current assets and current liabilities are subscquenily measured at the c&qh or other consideration
expected to be paid or received and not discounted.
tkbi instruments are subsequently measured at amortised cost.
Where investments in shares or preference shares are publicly tr&ded or their fair value can
otherwise be Tneasured reliably, the investment is subsequently measured at fair value with
hanges in fair value recognised in income and expenditure. All other such investments are
subsequently measured at cost less impairnient.
INVESTMENT INCOME
Unrestricted Tot#1 Funds Unrestri¢led Total Funds
Fund5
2023
Funds
2022
Interest receivable
Income from UK quoled investments
Income from Non-UK quoted
investments
846
2,279
846
2.279
2.174
2,174
19,262
21,436
19,262
17,292
17.292
21,436
20,417
20.417

PORAT YOSEF FUND NUMBER TWO ACCOUNT
NOTES TO THE FIIYANCIAL STATEMENTS frwillntsed)
YEAR ENDED 31 DECEMBER 2023
INVESTMENT MANAGEMENT COSTS
Unrestricted Total Funds Unreslri¢ted Totai Funds
Funds
2023
Funds
2022
Portfolio management
5,399
SJ99
7.908
7.908
EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE
Unrestricl¢d Total FuTrds Unrestricied Total Funds
Funds
2023
Funds
2022
Support of Midrash Porat Yosef
Support costs
109,105
2,900
112.(M)5
109,105
2.215
2,215
2.215
2.215
112,005
EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE
Activities
undertaken
directly Support costs
Total funds
2023
Total fund
2022
Support of Midrd5h Poral Yosef
Governance cosis
109,105
302
2,598
2,900
109,407
2,598
112,Ib05
(249)
2,464
2.215
109.105
ANALYSIS OF SUPPORT COSTS
Supwrt of
MidTash
Porat Yosef Total 2023 Total 2022
Finance costs
Govemance costs
302
2,598
302
2J98
2,900
2,900
NET EXPENDITURE
Net expenditure is stated after ch8rgingl{crediting):
2023
2022
Foreign exchange differences
302
(249)
10. INDEPENDENT EXAMINATION FEES
2023
2022
Fees payable to the independent ¢xaminer for-
Independeni examination of the financial statements
2.464

PORAT YOSEF FUND NUMBER TWO ACCOUNT
NOTES TO THE FINANCIAL STATEMENfs rconilA4edJ
YEAR ENDED 31 DECEMBER 2023
11. STAFF COSTS
No salaries or wages h&ve been paid to employees during the year.
12. TRUSTEE REMUNERATION AND EXPENSES
No trustees re¢eived any rernunerdtion dLbring the year. The charity did not meet any individual
expenses ineurred by the trustees for 5ervice5 provid¢d to the charity-
13. INVESTMENTS
Non-UK
quoted UK quoted
investments investments
TotAI
Falr vilue
Ai l January 2023
Addiiions
Disposals
Fair value movements
752.275
129,747
(97,803}
75,184
859,403
36,112
788J87
129,747
(97,803)
80,169
900J
4,985
41,097
A131 December 2023
Carryln8 amount
At 31 December 2023
859.403
752.275
41,097
36.112
900JOO
788,387
At 31 December 2022
All investments shown above are held at valuation.
FlnAn¢141 assets held at falr vollle
All investments are carried al their fair value. Fair vallke at 31 December 2023 15 ddem)ined
Using quoted price5.
The historical cost of investments at 31 December 2023 is $831.474 (2022.. S768.235).
14. DEBTOILS
2023
2022
Chher debtors
163,949
223.054
Other debtors include an amount of $163,949 due from the Porat Y05ef Fund Numkr One
Account.
IX INVESTMENTS
2023
2022
Other investments
I 1,000
io

POIL4T YOSEF FUND NUMBER TWO ACCOUNT
NOTES TO THE FINANCIAL STATEMENTS (cMlin4C
YEAR ENDED 31 DECEMBER 2023
I& CREDITORS: amounts falllng d￿e within oTre yegr
2023
2022
Accruals and deferred income
2￿98
2,464
17. ANALYSIS OF CHARITABLE FUNDS
Unre5trlcted fundj
At
l J&nuary
2023
At
Gains and 31 December
losses
2023
Income Expenditure
General funds
1,095,307
21,436
(117,404)
79,680 Ilb79,019
At
l January
2022
At
Gains and 31 December
losses
2022
Income Expenditure
General fund5
1,236,271
20,417
(10.123) (151,258) 1,095,307
I& ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unr¢5tricted Totsl Funds
Funds
2023
Investments
Current assets
Crediiors less than l year
Net *ssets
900,500
90￿500
181,117
(2,598)
1,079,019
(2,598)
1,079,019
Unrestricted Total Funds
Funds
2022
Investment5
Current assets
Creditors less than l year
Net aB5ets
788,387
309.384
{2.464)
1.095,307
788,387
309,384
(2,464)
1.095,307
19. FINANCIAL INSTRUMENTS
The carrying amount for e￿h category of financial instrument is as follows:
2023
2022
Financial assets me&8urtd at falr value through In¢ome ind expenditure
Financial assets measured at fair value through income and
expenditure
788J87
788.387

PORAT YOSEF FUND NUMBER TWO ACCOUNT
NOTES TO THE FINANCIAL STATEMENTS (cofillnm
YEAR ENDED 31 DECEMBER 2023
19. FINANCIAL INSTRUMENTS (C•*lltt#¢4J
2023
2022
Financial assets that 8re debt instruments measured at omortlsed Cost
Financial assets that are debt instruments measured at amortised
cost
223,054
223.054
Financial liabilities measured at amortlsed cost
Financial liabilities measured at amortised cost
2,464
2,464
20. RELATED PARTIES
There w¢r¢ no related party transactions during the year under review.
li