CHAIUTY REGISTIL4TION NUMBER: 273095
PORAT YOSEF Ft)ND NUMBER ONE ACCOUNT
uNAUD￿ED 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 re￿￿tratiOn 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 Tn￿teeS 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 i1￿7vIdUal$ and have a good understanding of what is involved in being
a Trustee of a charity. When appropriate, the Charity supports the training of Tn￿tee$ 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¢s￿Ct 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 fIna￿la1 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 reCo￿lSed on an aCCn￿lS 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 pUrCh￿ed 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 f￿Ure 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
Un￿StrICted 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 Fll￿js
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 {condnM￿J
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
C*rrylng amount
At 31 December 2024
1,293,889
1,212.707
31.218
I J25,107
1.242,582
Al 31 Decern￿r 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 f*lllng 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 Ex￿ndItUre
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 e￿h 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 tn￿l¢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 i￿lUded 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 T￿￿ee$ 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 sh￿1 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
tr￿St¢e5 by..
MRMSLSTERN
Trustee

PORAT YOSEF FUND NUMBER TWO ACCOUNT
INDEPENDENT E￿MINER'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 ch￿lIable 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 reco￿79ed 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¢C￿ell

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 pre￿red 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¢&￿I￿g 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 (Cr￿11￿4£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 purCh￿d 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 STATEf*tENTS (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 A￿1VITIEs BY FUND TYPE
Unrestricted Tot*1 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
SuP￿rt 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 v￿ualI0n.
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 incI￿a¢ an atnount of $163,949 due from the Porat Yosef Fund Number One
Account.
IS. CREDITORS: *mounts f*lllng due wlthln one year
2024
2023
Accruals and deferred i￿ome
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 C￿Ing 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 Me￿ured 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.