CHAIUTY REGISTIL4TION NUMBER: 273095 PORAT YOSEF Ft)ND NUMBER ONE ACCOUNT uNAUDED FINANCIAL STATEMENTS 31 DECEMBER 2024 COHEN ARNOLD Chartered Accountants New Burlington House 1075 Finchley Road London NWII OPU
PORAT YOSEF FUM) NUMBER OI¥E ACCOUNT FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 PAGE Trustees, annual ffpx)rt Independent examin¢Vs report to th¢ trustees Statement of financial actLVlties Statement offinancial position Notes to the financial statements
PORAT YOSEF FUND NUMBER ONE ACCOUNT TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 The truste¢s present their report and the unaudited financial ststernents of the chatity for the year ended 31 December 2024. REFERENCE AND ADMINISTRATIVE DETAILS Registered chArlty name Charity retratiOn nllmb¢r Prlllclpal offlce Porat Yosef Fund Number One Account 273095 6 Albert Court Prince Consort Road London SW7 2BE THE TRUSTEES MrMSLStern Mr A Tcohen MT D Rabson INDEPENDENT EXAMINER David Goldberg. FCA DChA New Burlington House 1075 Finchley Road London NWII OPU STRUCTURE, GOVERNANCE AND MANAGEMENT The Porat Yosef Fund Number One Account w&% set up by the Settlor. Raiphe Moise Sassoon. by a Declardlion of Trust dated 18 August 1970. The Trust Deed directs th the Original sum settled and such other funds or property and all subscriptions and donaiions which may be paid or trnnsferred for the purposes of the charitAble objects declared shall be held and applied for the Charity. The Charity Cr¢ed by the Deed is lo be administered under the title of 'Porat Yosef Fund,. The Trust owns the freehold titles to the properties known as Yeshivol of Pornt Yosef in Jerusalem, Israel. The value of the properties is not known and has not been included in the annu&l accounts, other than this note in the Trustees, Report. The board of TnteeS consists of three Trustees. New Trustees are found from the conts¢ls and networks of existing Trustees. When recruiting new Trustees the ix)ard looks for individuals with skills and experi¢nce which are of value to the Charily. Any potential Trustees will be interviewed by the existing TrLLStees and provided with a pack of inforn)ation including accounts and a copy of the trust deed. The Trustee5 ar¢ experienced i17vIdUal$ and have a good understanding of what is involved in being a Trustee of a charity. When appropriate, the Charity supports the training of Tntee$ including, for example, attendance at seminars. The Trustees meet regularly during the year to consider recommendations for, and make final d¢¢isions on. the awarding of grants.
POIL4T YOSEF FUND NUMBER OIYE Accouiyr TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 Rlsk Management The Trustees have 8ssessed the major risks to which the charity is exposed, in particular those related to the operation and finances of the Trus1, and are satisfied that systems are in place to mitigate exposure to the major risks. OBJECTIVES AND ACTIVITIES The Trusl directs the Trustees shall apply the incolne of the Charity for the maintenance, UFke¢p and benefit of the Institution in Israel known as Midrash Pordt Yosef (also known as the F¢deration Yeshivot of Pornt Yoseph), established and dedicated for the benefit of the Jewish community in Jerusalem. Public Benefit The trustees confim their ¢ompliance with the duty io have due reg3rd to the public benefit guidance published by the Charity Comtnission when reviewing the Charity'5 aims and objeciives and in planning future &clivili¢s. ACHIEVEMENTS AND PERFORMANCE During the year the charity continued to review its investments with the aim of applying funds in furth¢Tance of ils objectives. Donations paid during the year amounted to $56.(KiO. FINANCIAL REVIEW At 31 December 2024 the Charity had $1,575,788 Unreslri¢ted Funds. The Trustees have not entered into any commitments which would affect the financial position of the Charity. Reserves pollcy The Trustees, policy is lo maintain a minimum reserve to cover fluctuations in incom¢. Investment Policy and Performan In accordance with the Trust Deed. the Trustees hav¢ power to invest in such stocks, funds, shares. securit1¢5 or other investment or property of whalsoever nature and wheresoever siiuaie as they see fit. The Trust¢es have engaged Cazenove Capital Management as inv¢slment managers. The Policy is lo adopt a low lo medium risk inveslmeni strategy. The inveslmenl objective is to maximi5e income and apital in the medium term to be achieved through a balanced portfolio of equities, bonds and cash. PLANS FOR FUTURE PERIODS The charity is managed with a view to it king able to continue its activities in ihe future. The trustees, annual report W&8 approved on 20 October 2025 and signed on behalf of the tK)ard of trustees by.. MRMSLSTERN Tntstee
PORAT YOSEF FUND NUMBER ONE ACCOUNT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PORAT YOSEF FUND NUMBER ONE Accou[ YEAR ENDED 31 DECEMBER 2024 I report to the trustees on my examination of the financial statements of Pordt Yosef Fund Number One Account Cthe charity,) for the year ended 31 December 2024. RESPOIYSIBILITIES AIYD BASIS OF REPORT As the trust¢es of the charity you are responsible for th¢ preparntion of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act.). I report in r¢sCt of my exaTnination of the ¢harity'S financial stalements carried out under section 145 of the 201 l Act and in carying out my examinalion I have followed all the applicable Directions given by the Charity Commission under sethion 145(5)(b) of ihe Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I confirni that no material matters have come to my attention in connection with the examination giving m¢ cause to believe that in any material Spect.- accounlins records were not kept in respect of the charity as required by section 130 of the Act; or the financial ststements do not e0rd with those records; or the fInala1 5t&ternents do not comply with the appli¢able requirements concerning the fom) and content of accounis set out in the Chariiies (Accounts and R¢porLs) Regulations 2008 other than any requirement that the accounts give a 'true and faiv view which is not matter considered as part of an independent examination. I have no con¢¢rns and have come across no other matters in connection with ihe cxaminalion to which attention should be drawn in thi5 report in order to enable a prop¢r undeT5tandin8 of the accounts to be reached. DAVID Indep DBERG, FCA DCHA - xaminer Lirlington Hous¢ 75 Finchley Road London NWII OPU 20 October 2025
PORAT YOSEF FUND NUiVIBER ONE Accouiyr STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2024 2024 Unrestricted funds Total fuDds Total funds 2023 Notr INCOME AIYD ENDOWMENTS Investment income 27.868 27.868 27,868 28,728 TOTAL IIYCOME 27068 28,728 EXPENDITURE Expenditure on raising fijnds: Investment management costs Expendiiure on ¢haritable activitie5 TOTAL EXPENDITURE (7,864) (59,252) (67.116) (7.864) (7,497) (59252) (102,901) (67,116) (110,398) Net gains on investments 103.333 103J33 111,290 NET INCOME AND NET MOVEMENT IN FUNDS &1,085 64,085 29,620 RECOIYCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 1,511.703 1,575.788 IJII,703 1,482,083 .511.703 lJ75,788 The statement of financial activities includes all gains and losse5 recognised in the year. All income and expenditure derive from continuing activities. The not¢5 p•gts 6 th li form part of these fillgDci*I statement
POK4T YOSEF FUND NUMBER ONE ACCOUNT STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2024 2024 2023 Note FIXED ASSETS Investmenls 12 ,325,107 1,242,582 CURRENT ASSETS Debto Cash at bank and in h&nd 13 4DO,000 17,087 417,087 400,0(M) 35,668 435,668 CREDITORS: amollnty f*lllng du¢ wlthln one year NET CURRENT ASSETS 14 (166,406) (166.547) 250,681 269.121 TOTAL ASSETS LESS CURRENT LIABILITIES I J73,788 lJ75.788 1.511.703 1,511,703 NET ASSETS FUNDS OF THE CHARITY Unrestricted funds 1,575,788 l J75.788 1.511.703 1,511,703 TOTAL CHARITY FUNDS 15 These financial statements were approved by the board of trustees and authorised for issue on 20 October 2025. and are signed on beh&lf of the board by: MRMSLSTERN Trustee Th¢ note$ on p#tes 6 to li form pwrt of thegt finardal $tatornentS.
PORAT YOSEF FUND NUMBER ONE ACCOUNT NOTES TO THE FINANCIAL STATEMENrs YEAR ENDED 31 DECEMBER 2024 GENERAL INFORMATION The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 6 Albert Court. Prince Con50rt Road, London, SW7 2BE. STATEMENf OF COMPLIANCE These financial statements have been prepared in compliance with FRS 102, Tr Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Sthiement of Recommended Practice applicable lo Charities preparing their accounts in accordance with the Financial ReEKTrrting StaThJard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and ihe Charities Act 2011. ACCOUNTING POLICIES Basls of preparntloD The financial statemen15 have been prepared on the historica] cost basis, as modified by the revaluation of certain financial ass¢t5 and liabilities me&sured at fair value through income or expenditure. The financi81 statements are prepared in US Dollars which is the funetiortal currency of the entity. Golng ¢ODcern There are no material uncertainties about the charity's ability to eonlinue. Judgements And key sources of estlmatlon un¢ertAlTrty There are no judgements. estimates and assumptions that &ffe¢l the amounts reported. Forelgn currencles Foreign currency transactions are initially recorded in the functional cwr¢ncy, by applying the spot exchange rdte as al th¢ date of the trnnsa¢iion. Monetary assets and liabilities d¢nominaied in foreign currencies are translated at the exchange raie ruling al the reporting dote, wilh any gains or losse5 being tsken to the statement of financial activities. Fund a¢countlll8 Unrestricted funds are aVAilable for use at the discretion of the truslees to further any of the charity's purposes. Designated funds are unrestricted funds earniarked by th¢ trustees for a particular fthure project or commitment. Ther¢ are no designated funds a5 at the balance sheet dale. Restricted funds are subjected io restrictions on their exp¢nditure dxlared by the donor or through the lern)s of an appeal. and fall into one of two sub-classes.. restricted incom¢ fijnds or endowment fund5. There are no restricted funds as at the bAIAnce sheet dat¢. Incoming resourc All income is included in the statement of financial activities when entitl¢m¢nt has passed to the charity, it is probable thot the economic nefits associated with the transa¢tion will flow to the charity and the amount can be reliably measured.
PORAT YOSEF FUND NUMBER ONE ACCOUNT NOTES TO THE FII¥4ANCIAL STATEMENTS fc¢ml(nued) YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Resources expended Expenditure is reColSed on an aCCnlS basis as a liability is incurred. Expenditure includ¢s amy VAT which cannot be fuily recovered. and is Classified under heading5 of the statement of financial activities to which it relates. Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities thai further ils charitable aims for ihe benefit of its beneficiaries, including those support costs and costs relating to the goveman¢e of the ctwiry apportioned to charitable activities. Investments Listed investments are measured &1 fair value with changes in fair value being reco8nis¢d in profit or loss. Realised gains and losses on investments are calculated based on the opening market value. Unre&lised gains and losses on investments are calculated as the differ¢nce between Ihe catrying valuation of investment5 at the balance sheet date arsd the original cost in the case of inve51menls pUrChed during the year and otherwise on the difference between current valuation and the previous valuation. Fln*n¢iAI Instruments A financial asset or a financial liability is recognised only when the entity becomes a paty to the conlractual provisions of rhe instrument. Basic financial instruments are initially recognised at th¢ aTnount receivable or payable includin8 8ny related transaction costs. unless the arrangement constitutes a financing tranqaclion, where il is recognised at the present value of the fUre payments discounted at a market rate of interest for a similar debi instrwnent. Currenl assets and current liabilities are subsequently me&8ured at the cash or other considerntion expected lo be paid or re¢eiv¢d and not discounted. Debt instruments are subsequently measured ai amorti5ed cost. Where investments in shar¢s or preference shares are publicly traded or th¢ir fair value can otherwise be measured reliably, the inve51ment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments e subsequently mwured cost less impaimenl. INVESTMENT INCOME UnStrICted Total Funds Unrestri¢t¢d Total Funds Funds 2024 Funds 2023 Income frotn UK quoted investments IncoJn¢ from Non-UK quoted investments 1.836 lJ36 1,792 1,792 26,032 27.868 26,032 26.936 26.936 27,868 28,728 28.728
POIL4T YOSEF FUND iYUMBER ONE ACCOUNT NOTES TO THE FINANCIAL STATEMENTS ((ottliJwcdJ YEAR ENDED 31 DECEMBER 2024 INVESTMENT MANAGEMENT COSTS Unrestricled Total Funds UnrestTicled Total Flljs Funds 2024 Funds 2023 Portfolio management 7,864 7864 7.497 7.497 EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Supwrt of Midrash Porat Yosef Supw)rt costs 56.(M)O 3,252 56,000 3252 59,252 100,000 2.901 100,000 2,901 102.901 59,252 102,901 EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE Activities undertaken directly Support costs Total funds 2024 Total fund 2023 Support of Midrtsh Poral Yosef Governance costs 56.1)00 5&000 3252 59,252 100,000 2.901 102.901 3252 3252 56,(A)O NET INCOME Net income is ststed after chargingl(crediling)'. 2024 2023 Forei exchange differences 654 303 INDEPENDENT EXAMINATION FEES 2024 2023 Fees payable lo the independent examiner for.. Indcpendent examination of the financial statements 2,464 2.464 10. STAFF COSTS No salaries or wages have been paid to employees during the year. I I. TRUSTEE REMUNERATION AND EXPENSES No intsiees received any Tefftuneration during the y¢ar. The charity did not meet any individual expenses incurr¢d by the trustees for services provided lo the charity.
PORAT YOSEF FUND NUMBER ONE ACCOUNT NOTES TO THE FINAIYCIAL STATEMENTS {condnMJ YEAR ENDED 31 DECEMBER 2024 12. INVESTMENTS Non-UK quoted UK quoted investments IDvesttnents Total Fair value Ai l January 2024 Additions Di5POgals Fair value movements 1.212.707 211,893 (221.786) 91,075 29.875 1,242J82 211,893 {221,786) 92,418 IJ2S107 .343 31,218 Al 31 Deeember 2024 1,293,889 Crrylng amount At 31 December 2024 1,293,889 1,212.707 31.218 I J25,107 1.242,582 Al 31 Decernr 2023 29,875 All investments shown above are held at valuation. FlnAn¢ixl ass¢t$ held al fair value All investments we carried at their fair valu¢. Fair value at 31 December 2024 is determined using quoted prices. The historical cost of investments at 31 December 2024 is $1,045,145 (2023.. SI.048,855). 13. DEBTORS 2024 2023 Other debtors 400,000 400,000 Other debiors include Rn amount of s400,0 (2023: S4(K),000) due from Midrash Porat Yosef. 14. CREDITORS: amounts flllng due wlthin one year 2024 2023 Accruals and deferred income Other creditor5 2,457 163,949 166,406 2.598 163,949 106,547 Other creditors include an amount of S163.949 (2023.. S163,949) due to the Pordt Yosef Fund Number Two Account.
PORAT YOSEF FUND NUMBER ONE ACCOUIYT NOTES TO THE FINANCIAL STATEMENTS (unllnHv4) YEAR ENDED 31 DECEMBER 2024 15. ANALYSIS OF CHARITABLE FUNDS Unrestricted funds Al l January 2024 At Gains and 31 Deeernber losses 2024 Income ExndItUre General fvnds 1.511.703 27.868 (67,116) 103,333 157S,788 At l January 2023 Al Gains and 31 December losses 2023 Inwme Expenditure General fvnds 1,482.083 28,728 (110.398) 111.290 1.511,703 16. ANALYSIS OF NET ASSETS BETWEE]Y FUNDS Unrestricled Tot*l Funds Funds 2024 Invesiments CutTent assets Creditor5 less than l year Net a$$etS 1,325.107 1,325,107 417,087 417.087 (166.406) {166,406) 1.575.788 I,575,788 Unrestricted Total Funds Funds 2023 Investments Curr¢nt assets Creditors less ihan l year Net wssets 1,242,582 1,242,582 435.668 435,668 (166.547) (166.547) 1,511.703 1,511.703 17. FINANCIAL INsfRUMENTS The ¢anying amount for eh category of financi81 instrument is &s follows.. 2024 2023 Fln#n¢lAI a$s¢ts measured #t falr VAlue throuffh Income and exptnditure Financial assets measured at fair value through income and expenditure 1,074,070 1,074,070 Flnanelal assets that are debt Instruments measured at amortised cost Financial assets that are debt instruments measured at amortised cost 400,000 400,000 Financlal 11obilltles meAsured at gmortised cost Financial liabilities measur¢d ai amortised cost 116,413 116,413 io
PORAT YOSEF FUND NUMBER ONE ACCOUNT NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 18. RELATED PARTIES There were no relat party transactions during the year under review.
CHARITY REGISTRATION NUMBER: 273095 PORAT YOSEF FUIYD NUMBER TWO ACCOUNr UIYAUDtrED FINANCIAL STATEMENrs 31 DECEMBER 2024 COHEN ARNOLD Chartered A¢countants New Burlinglon House 1075 Finchley Road London NWII OPU
PORAT YOSEF FUND NUMBER TWO ACCOUNT FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 PAGE Trustees, annual report Independent examineffs Jtport to the trustees Statement of financial activities Statement of financial position Notes to the financial statements
PORAT YOSEF FUND NUMBER TWO ACCOUNT TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 The tnl¢eS present their report and ihe unaudited financial statements of the charity for the y¢ar ended 31 December 2024. REFERENCE AND ADMINISTRATIVE DETAILS Registered chArlty name Charity registration number PrlnclpAI offlce Pornt Yosef Fund Number Two Account 273095 6 Ali%rt Court Prince Consort Road London SW7 2BE THE TRUSTEES MrMSLStern Mr A T Cohen Mr D Rabson I]YDEPENDENT EXAMINER David GoldEtrg. FCA DChA New Burlington Hous¢ 1075 Finchley Road London NWII OPU STRUCTURE, GOVERNANCE AND MANAGEMENT The Pordl Y05ef Fund NumEer Two Account w&8 sel up by the Settlor. Ra]phe Moise Sassoon. by a Declaration of Trust daied 18 Au8U5t 1970. The Trust t directs that the (kiginal Sum Settled and such other funds or property and all subscriptions end donations which may be paid or transferred for the purposes of the charii&b5¢ object$ declared shall be held and applied for the Charity. The Charity created by the Deed is to be administered under the title of 'Pornt Y05ef Fund,. The TnLSt owns the freehold titles to the properties known as Yeshivol of Porat Yosef in Jerusalem, Israel. The value of the properties is not known and has not been ilUded in the annual a¢¢ounts, other than this note in the Trustees, Report. The board of Trustees consists of three Tnjstees. New Trustees are found from the conla¢ls and networks of existing TTUStees. When recruiting new Trustees the board looks for individuals with skills and experience which are of value to the Charity. Any potential Trustees will be interviewed by the existing Trustees and provided with & pack of infomiation including accounts and a copy of ihe trust deed. The Trustees ar¢ experienced individuals and have a good understanding of what is involved in being Trustee of a charity. When appropriate, the Charity SUPPOrts the training of Tee$ including, for example. attendance ai seminars. The Trustees meet regularly during the year to consider recomrnendations for, and make final deci5i0tis oil the awarding of grants.
PORAT YOSEF FUND NUMBER TWO ACCOUNT TRUSTEES, AIYNUAL REPORT (¢oMlttu£d) YEAR ENDED 31 DECEMBER 2024 Risk Management The Trnstees have assessed the major tisks io which ihe ¢hority 15 exposed. in partieular those related to the operntion and finances of the Trus( and are satisfied that systems gr¢ in place to mitigate exposure to th¢ major risks. OWECTtVES AND ACTIVITIES The Trust directs the Trustees sh1 apply the income of the Charity for the mainlen8nce. upkeep and benefit of the Instilution in Israel known as Midrash Porai Yosef (a]so known as the Federation Yeshivot of Porai Yoseph). established and dedicated for the benefit of the Jewish comrnunity in J¢ru5aleTn. Publi¢ Benefit The trustees confirm their compliance with the duty to have due r¢gard to the wblic benefit guidance publish by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activilies. ACHIEVEMENTS AND PERFORMANCE During the year the charity continued lo review its investhlenls with the aim of applying funds in furtherance of its objectives. Donations paid during the year amounted lo $44,000. FINANCIAL REVIEW At 31 December 2024 the Charity had $1.118,850 Unrestricted Funds. The Trustees have not entered into any cotnTnitments which would affect the financial positi¢)n of the Charity. Reserves polley The Trustees, policy is to maintain a minimum reserve to cover fluctuations in income. Investmenl Pollcy and Perform*nce In Accordance with the Trust Deed. the Truslees have power to invest in such stocks. funds, shares, securities or other investment or property ofwhalsoever nature and wheresoeyer situate as they see fit. The Trustees hav¢ engaged CAzenove Capital Managernenl as inveslment managers. The Policy is to adopt a low to medium risk investment strategy. The investment objective is Eo maximise income and capital in the medium lerni to be achieved through a balanced portfolio of equities, bonds and cash. PLANS FOR FUTURE PERIODS The charity is managed wilh a view to it being able to continue its a¢tivities in the future. The trustees, annLMI report was approved on 20 October 2025 and signed i)n behalf of th¢ 8rd of trSt¢e5 by.. MRMSLSTERN Trustee
PORAT YOSEF FUND NUMBER TWO ACCOUNT INDEPENDENT EMINER's REPORT TO THE TRUSTEES OF PORAT YOSEF FUND NUMBER TWO ACCOUNT YEAR ENDED 31 DECEMBER 2024 l report lo the trustees on my examination of the financial statement5 of Porat Yosef Fund NumEer Two Account {'the charity,) for th¢ year ended 31 Decernber 2024. RESPONSIBILITIES AND BASIS OF REPORT As the trustee5 of the charity you are responsible for the preparation of the finanrial statements in accordance with the requirements of the Charities Act 2011 ('(he Act,). I r¢p)rt in respect of my examinalion of the charity's financial statements carried out under section 145 of the 201 l Act and in canying out Tny ex8rninalion I have followed all the applicable DirectlDns given by the Charity Commission under seciion 145(5)(b) of the Act. INDEPENDENT EXAMINER'S STATEMENT I h&v¢ ¢ompleted my examination. I confimi that no material matters have come to my attention in connection with the examination giving me cause to believe thal in any maierial Tesp¢ct= accounting records were not kept in respect of the ¢h8rity &$ 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 ihe applicable requiretnenls concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other ihan any requirement that the accounts give a 'true and faif view which is not a matter considered &$ part of an independent examination. I hav¢ no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. DAV OLDBERG, FCA DCHA endcni Examiner New Burlington House 1075 Finchley Ri)ad London NWI I OPU 20 October 2025
PORAT YOSEF FUND NUMBER TWO ACCOUNT STATEMENT OF FINANCIAL ACTtvrriES YEAR ENDED 31 DECEMBER 2024 2024 Unrestricted funds Total funds Total funds 2023 Note INCOME AND ENDOWMENTS Investment income 20.328 20.328 20J28 20a28 21.436 21.436 TOTAL IIYCOME EXPENDITURE Expenditure on raising funds: Invesiment management costs Expenditure on chlIable activities TOTAL EXPENDITURE (5,583) (47,263) (52,846) (S,Al) (5.399) (47,2) {112.005) (52,846) (117,404) Net gains on investments 72.349 72,349 79.680 NET INCOMEI(EXPENDITURE) AND IYET MOVEMENT IN FUNDS 39.831 39,831 (16,288) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 1,079.019 1.118.850 1,079,019 1,118,850 1,095.307 1,079.019 The ststem¢nt of financial acttvities includes all gains and losse5 reco79ed ID the year. All income and expenditure derive from continuing 8Ctivilies. The n•t¢$ on p*8ei 6 to 11 form partof ikese flDanciAI 5t1¢Cell
POIL4T YOSEF FUND IYUMBER TWO ACCOUNT STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2024 2024 2023 Note VIXED ASSETS Inveslments 13 943,959 900,500 CURRENT ASSETS Debtors C&sh at bank and in hand 14 163,949 13540 163.949 17.168 177.489 181.117 CREDITORS: amounts fallln8 due wlthln one yeAr NET CURRENT ASSETS Is {2,598) (2.598) 174,891 178,519 TOTAL ASSETS LESS CURRENT LIABILITIES 1,118,850 1,118,850 1,079.019 1,079,019 NET ASSETS FUNDS OF THE CHARITY Unrestricted funds 1,118,850 1.118 1,079,019 1,079,019 TOTAL CHARITY FUNDS 16 These financial statements were approved by the board of trustees and authoris¢d for issue on 20 O¢lober 2025, and are si8ned on behalf of the board by.. MRMSLSTERN Trustee Tht Mte$ on pie¢5 6 to 11 forni part ofilLtst finan¢i*l statement
POEL4T YOSEF FUND NUMBER TWO ACCOUNT NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 GENERAL INFORMATION The charity is a public benefit entity and a register¢d charity in England and Wales and is unineorporated. The address of tk pritKipal office is 6 Albert Court, Prince Consort Road, London, SW7 2BE. STATEMENT OF COMPLIANCE These financial statements have been prered in complian¢e with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Stalement or Recommended Practice applicable io charities PTeparing their accounts in accordance with the Financial R¢porting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) und the Charities Act 2011. ACCOUNTING POLICIES B#sls of preparAtlon The financial statements h8ve been prepared on the historical c05t basis. as modified by the revaluation of certain financial assets and li&bilities measured &t fair value through income or expenditure. The financial statements are prepared in US Dollars which is the fundional currency of the entity. Golng conttrn There are no material uncertainties about the charity's ability lo continue. Judgements and key sources of estlm4tlon uncert*lnty There are no judgetnents. estimates and assumptions that affect the amounts reported. Forelgn ¢urr¢ncies Foreign currency trdnsactions are initially recorded in the functional curreneyl by applying ihe spot exchange rate as at the dal¢ of the transaction. Monetary assets and liabilities denominated in foreign currencie5 are tt7nslated at the ex¢hange rate ruling at the T¢&Ig dale. with any gains or10sses being iaken to th¢ statement of financial activities. Fund Accounting Unrestricted funds are available for use at the discretion of the trusiees lo further any of the charity's purpose5. Designat{ funds are unrestricted funds earniarked by th¢ trustees for a particular future project or commitment. There are no designated funds as al the balance sheet date. Restricted funds are subjected io restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes- re5tri¢l¢d income funds or endowment funds. There are no restricted funds as at the balance sheet date. Incoming resources All income 15 included in the stalement of financi&l activities when entitlement has passed to ihe charity. it 15 probabl¢ that the economic benefits associated with the transaction will flow to the charity and th¢ amount can be reltably measured.
PORAT YOSEF FUND LYUMBER TWO ACCOUNr NOTES TO THE FINANCIAL STATEMENTS (conrrnwed) YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (Cr114£d) Resour¢es ¢xpeDded Expenditure is re¢o8nised on an a¢crwdls basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovtted, and 15 cl&ssified under headings of the statement of financial activities to which it relates. Expenditure on charitable activities includes all costs in¢urred by a charity in undertaking activities that further lis charitable aims for the benefit of its beneficiaries. including those support costs and costs relating lo th¢ governance of the charity apyTrrtioned to charitable activities. Investments Listed investments are measured at fair value with changes in fair value being recognised in profit or loss. Realised gains and losses on investments are calculated based on the opening market value. Unrealised gains and losses on investh]¢nts are calculaled as the difference between the ¢anying valuation of investments al the balance sheer dat¢ and the original cost in the case of investments purChd during the year and otherwise on the difference between current valuation and the previous valuation. FlnanclAI Instruments A financial asset or a finarKial liability is recognised only when the entity becomes a party to the contractual provisions of ihe instrument. Basic financial instruments are initially recogni5ed at the amount receiv&ble or payable including any relaied transaction cosis. unless the arrartgement constitutes a financing transaction. wheTe i( 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 liabilitie5 are subsequently me&8ured at the cash or other consideration expec(ed lo be paid or received and not discounted. Debt instruments are subsequently me&sured al amortised cost. Where investments in shar¢3 or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investmeni is subs¢quently measured &t fair value with changes in fair value recognised in incorne and expenditure. All other such investments are subsequenily measured at cost less impairment. INVESTMENT INCOME Unrestricted Tot*1 Funds Unrestrieted Total Funds Funds 2024 Funds 2023 Income from UK quoted investments Income fmm Non-UK quoted investments 1.996 1,996 2.174 2,174 18.332 20,328 18J32 19,262 21,436 19.262 21,436 20J28
PORAT YOSEF FUND NUMBER TWO ACCOUNT NOTES TO THE FINANCIAL STATEftENTS (cvndnmerf) YEAR ENDED 31 DECEMBER 2024 INVESTMENT MANAGEMENf COSTS Unreslricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Portfolio management 5.583 5583 5.399 SJ99 EXPENDITURE ON CHARITABLE A1VITIEs BY FUND TYPE Unrestricted Tot1 Fund5 Unrestricted T(Aal Funds Funds 2024 Funds 2023 Support of Mldrn5h Porai Yosef Support COSt5 44.0 3.263 47,263 44,0 3,263 109,105 109,105 2.900 112.005 47,263 112,005 EXPENDITURE ON CHARITABLE ACTIVITIES BY AcfiviTY TYPE Activities undertaken dirertly Support costs Total funds 2024 To181 fund 2023 SuPrt of Midrash Porai Yosef Governance ¢osts 44,(X)O 44,000 3263 47,263 109,407 2.598 112.005 3,263 44,(M)O 3,263 ANALYSIS OF SUPPORT COSTS Support of Midrash Porat Yosef Total 2024 Total 2023 Finance costs Governance costs 302 2,598 2.9 3.263 3,203 3263 3263 NET INCOMEI{EXPENDITURE} Net irKomÈl{expeThJitur¢) is stated after chargin81{uediting)". 2024 2023 Foreigm exchange differences 524 302 10. INDEPENDENT EXAMINATION FEES 2024 2023 Fees payable to the independent examiner for- Independent examination of the financial statements 2.464
PORAT YOSEF FUND NUMBER TWO ACCOUNT NOTES TO THE FINANCIAL STATEMENTS (cottllN4edJ YEAR ENDED 31 DECEMBER 2024 I I. STAFF COSTS No salaries or wages have been paid to employees during the year. 12. TRUSTEE REMUNEIL4TION AND EXPENSES No trustees received any remuneration during the year. Tr charity did not meet any individual expenses incwred by the trustees for services provided to the charity. 13. INVESTMENTS Non-UK quoted UK quoted investments investments Total Falr value At l January 2024 Additions Disposals Fair value movements 859.403 149,340 (156,779) 63.094 41.097 900JOO 149J40 (13,826) (170,(JOS) 1,630 01724 28,901 943,959 A¢ 31 De¢ember 2024 915.058 Carrylngamount A¢ 31 December 2024 915,058 859,403 28,901 41,097 943,959 900.500 Al 31 December 2023 All investment5 shown above ar¢ held at vualI0n. Flnanclal Assets held at fAlr value All investments are carried at their fair value. Fair value al 31 December 2024 is determined Using quoted prices. The historical cost of investments ai 31 December 2024 13 S857.385 (2023: $831.474). 14. DEBTORS 2024 2023 Other debtors l63,949 163,949 Other debtors incIa¢ an atnount of $163,949 due from the Porat Yosef Fund Number One Account. IS. CREDITORS: mounts flllng due wlthln one year 2024 2023 Accruals and deferred iome 2,598 2.598
PORAT YOSEF FUIYD NUMBER TWO ACCOUNT NOTES TO THE FINANCIAL STATEffv(ENTS (cottlinmedj YEAR ENDED 31 DECEMBER 2024 I& ANALYSIS OF CHARITABLE FUNDS Unrestrlcted funds At l January 2024 At Gains and 31 December losses 2024 Income Expenditure Generdl funds 1.079.019 20,328 (52,846) 72.349 1.118,850 Al l January 2023 At Gains and 31 December losses 2023 Income Expenditure General fvnds 1.095,307 21.436 (117,404) 79.680 1,079,019 17. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Total Funds Funds 2024 Investments Current assets Creditors les$ than l year Net Assets 943,959 177.489 (2.598) 1,118,850 943,959 177,489 {2,598) 1,118,850 Unrestricl¢d Toial Funds Funds 2023 Investments Current assets Creditors less than l year Net assets 900,500 181,117 {2,598) 1,079,019 900,500 181,117 (2,598) 1,079.019 I& FINANCIAL INSTRUMENTS The CIng amount for each category of financial instrument is as follows.. 2024 2023 Flnan¢ial assets mewsured At falr value through Incomt and expenditure Financial assets measured at fair value through income and expenditure 78&387 788,387 Financial a55ets that are debt In$trnm¢nts measured •t gmortlsed ¢o$t Financial assets that are debi instruments measured at amortised cost 223,054 223,054 Finaneial liabilities me8sured *t ¥4mortlsed ¢os¢ Financial liabilities Meured at amortised ¢ost 2,464 2,464 io
PORAT YOSEF FUND NUMBER TWO ACCOUNT NOTES TO THE FINANCIAL STATEMENTS (LTrIKIiR YEAR ENDED 31 DECEMBER 2024 19. RELATED PARTIES TheTe were no related party transactions during the year under review.