Chadty roglstrntlon numbor 273993 (England and Wal•sl GEORGE ELIAS CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 GEORGE ELIAS CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Tru8tee* E C Ellas S E Ellas Ch•rlty number {England and W•l08) 273993 Prlnclpal addr•¥ 2nd Floor 1 Ashley Road Ajtrincham WA14 2DT Independont •x•mln•r Lopian Gross Bomett & Co 181 Floor, Cloister House Riverside New Bailey Street Manche81er M3 SFS GEORGE ELIAS CHARITABLE TRUST CONTENTS Page Trustees. report Independent examlnels report S18tement ol flnanclo18cliv5￿é3 Balanca Bhoet Statem8nt of ￿¥h flow8 Nolgs to Ihe fin8ncial 8talemenl8 7-13 GEORGE ELIAS CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5APRIL 2024 Th8 trustees present Ihelr annual report and flnandal stslements for th8 yèar ended 5 Aprll 2024. The financi81 stslements have been prepared in accordance wllh the accounting policiès set out in nol8 1 to the financlal 5t81em8nts and comply with the charity's Trust Deed, the Charities Act 2011 and 'Accountlng and Reporting by Ch8rib'es'. Statement of Re¢omrnended Practice applicablè to charilles preparing their accounts In accordance with the Financial Reportlng Stsndard appIl￿ble In the UK and Republic of Ireland IFRS 1021° {8S amended for accounb'ng pertods cornmenclng from 1 January 2019) Oblectl¥•s and actlvltles Th8 main objective of the tharily is to make donations lo charib'es supporting educational needs and fight against poverty as well as organisations promoting the Jewish faith in the United Kingdom or in any part of the wodd. These objectives are achieved by heightening the public awareness and by the payrnenl of grants lo charitable organisations. The tnjslees have paid due regard lo guidance issued by the Chanty Commis8lon in deciding what aclivlb'8s the ch8rSly should undertake. All of the actlviles that are undertaken by the charlty are lor the Bdvanc6ment of the objective5 that are Ou￿1ned fully above. With the ex￿pIlOn of the lim8 glven by Ihg Irusiees, the charity did not Tequlre the use of volunteer8 during the year. AGhl•vements •nd yrformanc• The priniipal activity of the charity during the year was lo support educational needs 8nd flghl agalnBI poverty as well as org8ni$ab'ons Promollng th8 Jewish faith in the United Kingdom or In any part ol the worfd. The charity'6 Sncoming resources, lolalllng £988,789. comprises of £988,326 voluntary conlributsons from companies and individuals in the United Kingdom lh& remainder d8rlved from inveslrnenl income. The charity's expended resources, totalling £990,12S Included £981.686 of donations lo tharitles in the United Kingdom or in any part of the world. All charitable donations were made to institutions in the year. The followlng malerial don81ion3 were made by the charity with the remainder of the charitable donallolls available on reque51 from the charity's head office., Zlchron 88ruch V'Rivka £220k, Cenlrul de Educalie Ebraica Traditionala din RM AO £180k, Magen Davld Adom UK £150k and Federallon of Jewlsh Servlces £55k. Fln•nGl•l rnvlew Funding for the Irust was received ￿nCIpallY from indlviduals and 8nts.ties rolaled lo tru81ees. Durfng the year, Incomlng resources of £988.789 were reduc¥¢J by £990.125 lo glve 8 net movement In unrestricted funds of £11,336). Total funds carried forward are £1,034,953 in an unreslrlclod fund to pres8Ne the conb"nuity of ¢)P8rations in the event of adverse clrcumstances. The trustees continually asse8s the major strategic and operational risks which the chBrity faces and have confirmed that syslems have been 8518blished to enable regular reports lo be made so that necessary 518ps can be taken lo lessen these risks, The m8in risk of the trust is considered to be a potential lack of funding Iwhlch Is unlikelyl as generally the level of donations made are agreed lo the amount of nel Incomo received. It is the policy ol the charity that don81ion commitmonts should only be made when funds are available or Ilkoly to become available in the near future. Th8 charity rnainlains a reasonable level of ￿SerVeS lor if al any time In the future a donation opportunity may arise. The trusl&es have assessed the malor risks lo which the charity is exposed, and are satssfied that systerns are in place lo mitigate exposure lo the major risks. GEORGE ELIAS CHARITABLE TRUST TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Structure, llov•rn8nc8 #nd manag8menl The ch8rily was e8tabllshed ￿ 30 May 1977 8nd regl*lered 88 8 char￿¥ M 1 AuguBI 1977. The Irustoes who seNed durlr*J the yoar 8nd UP to tha dalo ol slgnalur8 of Ihe fin8ntyal 81atem8nl8 wer8.. E C Ell88 S E Ella8 The trust daod provk1es for an unllmlled number ol Irust8tss. The Irust888 may elee.I navj members trj lh8 board and ranew momb8rshlp on an annual ba&B. None of the trusleÉ8 has any baneficlal InlerÈ&l In Ihe TnJst. DIsGIoouM of Infomiatlon to audltor E4ch of lh8 Iru51ee$ h8s conflmiéd IIiFJt Ihcrg 1$ no in1c￿aIlOn ol whlch Ihgy are aw41re w*lGh 18 relevanl lo th audll. bui ol whlch the audllor Is ungwnt8. Th8y hava furtht>r conllrrne(I Ih&l they hav8 t8kon appropria18 steps lo Idonllfy such relevanl Inforrnotlun &nd lo uytabli8h Ih81 th8 audllor18 aware of Suth Inlormallon. The Truste8s' rewt was apwovad by lh8 8￿fi￿ of Tru8t811B. 8 E Ella6 I'rusloe Dal*d.. GEORGE ELIAS CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GEORGE ELIAS CHARITABLE TRUST I r8POrt to the trustee5 on my examlnation of the flnanclal ststemanls of Georga Elias Charitable Trust Ilhe charilyl for the year ended 5 Aprfl 2024. Rosponslbllltles and bas1* of r•port As the trustees of the charity you arg responsiblo for the preparation of the financial statements in accordance wllh the requirernenls of the Chaiities Act 2011. I report in r8SP8Ct of my examin8tion of the chadty's financlal 8ts18menls carrled out under sectlon 145 of the Charities Act 2011. In catyng out my examination I have followed the Dir8ctsons given by the Charity Commission under secllon 1451511bl of the Charities Act 2011. Ind•p•nd•nt •xamlnorfs statement Since ihe chanlls gross Income exc8&ded £250,000, the independent examiner musl be a Member of a body listed in sedion 145 of the Charities Act 2011. 1 confirm that l am qu81ified lo undertake the examination b8cau8e l am member ol ICAEW, which is one of tha listed bodies. Your attention 18 drawn to the fact that th8 charity has pr8pared the flnanclal slalement5 sn accordance wllh the relevant versbon of the Slalemenl of Recomm8nded Pracllce applicable lo charib'es pr8P8ring Ihelr fin8nci81 slalemenls In accordanc8 *￿th th8 Financial Repotting Standard 8pplicable in the UK and Republic of Ireland IFRS 1021 In preference lo th8 Accounting and Reporting by Charilles.. Statement of Recommended Pr8Ctice issued on 1 Awil 2005 which is referred to in the extant regulations bul has now been withdrawn. l understand that this has been done in Order for Ihe flnancAal slalemenls to provide a irue and fair view in accordance with UK Generally Accepted Accounllng Pr8cllce. I have completed my examlnation. I confinn th8t no matters have come lo my atlenlion In conneclion with th• examinatson giving me cause to belleve that In any material respect.. accounting records werg nol kept in respect of the charity as required by section 130 of the Chariiles Act 2011. tha ftnanc181 slatam8nls do not 8ccord with those records; or the financial statements do not comply with the appllcable iequSremenls concernlng the forrn anfl conlenl of rinanclal slalements sat out In the Charflles (Accounts and R8port51 Regula￿OnS 2008 other than any requlrement that the financ181 slalemenls give a Irua and fair view, which is not a mgtlar consider8d 88 part of on independent examlnalion, I have no concems and have come across no other matters In connecllon wSth the 8xamin8tlon lo which allenlion should be drawn in Ihbs report in order to enable 8 proper understanding ol tho finanrial slalemgnts lo be r88ched. Jason Salig IBAACA CTA DGhAI Loplan Gro81 Barn•tt & Co 1st Floor, Cloister House Riv8rside New Bailey Street Manchester M3 5FS Dated: 5 February 2025 GEORGE ELIAS CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 Unr••trlct•d Unrestrlcted funds fund 2024 2023 Not Income from: Donalioris and legad&s Inve8tm8nts 988.326 463 740,000 343 Totsl Income 988,789 740,343 Ex endlture on: Charitsble acts'vilies 990,125 I,021,￿7 N•t •xp•ndltur• for th• y••rl Not mov•m•nt In fund• 11.3361 {281,1841 Fund balances 816 April 2023 1,036.289 1.317,453 Fund b•lane•# at S Aprll 2024 1,034.953 1,036,289 The statement of fSnancial acUvllle8 includes all g8lns and108ses recognised in the year. All income and expenditure derive from continuing activitie8. GEORGE ELIAS CHARITABLE TRUST BALANCE SHEET AS AT5 APRIL 2024 2024 2023 Notè$ Flxod 888•t• Tanglbl8 8ss4ts Invo$tments 12 13 19,846 12 19,846 12 19,858 19,8S8 Current as•ot• Doblors Caeh Bt boak ahd In h8nd 15 831.063 447.358 fi54,000 427,949 1.078,419 1.081,948 Cr•dltora: amount& Idlllng dug wlthln on• year 16 ie3,3241 165.5181 N•t ¢urronl a•••t8 1,015.095 1.018,431 Total a8••ts Gurront 1lobl1l￿ts 1,034,9S3 1.038,289 Th• fund• ol th• ¢h•rlty Unr••lHcted fund¥ 17 1,034.963 1,036,289 1,034.963 I,0￿,289 flnandal 81atemants w•re approwd by Ihe truatoe9 Qn...... Tru•t•• GEORGE ELIAS CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2024 2024 2023 Not•s Cash flo￿ from oper*tlng •¢tlvStles Cash genoraled fromllabsorbed by) operations 19 18.Y4 {393,6871 InY••tlng actl¥ltle¥ Investment income 463 343 Net c**h g•n•ratod from InveBtlng •ctlvltl•s 463 343 N•t ca•h genernt•d from Iln•nclng actlvMI•s Not In¢r•as•l{d•¢r•u•l In c*•h •nd cash •qulval•nt• 19,407 1393.3441 Cash and c88h equlvalenls 01 beglnnSng of year 427.949 821.293 Ca•h and ca•h •qulval•nt• at •nd of y•ar 447,358 427,949 GEORGE ELIAS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5APRIL 2024 Accounting poll¢l•s Charlty Infomiatlon George Elias Charitable Tw81 is a registered charlty In England and Wales. The challty's head offic8 is 1 A8hl8y Ro8d. Altrincham, WA14 20T. 1.1 Accountlng ￿nyOntIon The linancial slalemenls have be8n prepared in accordance with the charity's TTLlSt deed, Ihe Charities Act 2011 8nd 'Accounling and R8POrtlng by Charities.. Stalern8nt ol Rècommend8d Practice applicable to charSlles preparing their accounts in accordanee with the Financial Reporting Standard applicable in th8 UK and Republic of Ireland IFRS 1021" {as amended lor accounting periods commancing from 1 January 20191. The charity 18 a Public Benefir Entity as defined by FRS 102. The flnan¢ial statements have depart8d frorn the Charllies (Accounts and Reports) Regulations 2008 only to the exlent required to provide a true and fair vi8w. This departure has involved following the Statement ol Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred lo in th8 Regulatlons bul which h8s since been wllhdrawn. Th& financlal slalemanls are prepared in slerfing, which Is the functional currency of the charlty. Monetary amounts in these financial slalements 8re rounded lo the ne8rest £. The financial slalements have been prepared under the historical cost convgnlion. modlfi8d to includè cartaln flnancA81 Instruments al lair value. The princSpal accounting policies adopted are set out below. 1.2 Golng concern At ihe Ilme of approving Ihe fln8ncial statements. the twslees have a reasonable expectallon Ihat the charfty has adequ818 resources to continue in oper8tion81 existence for the foresoeable future. Thus the Iruslee8 continue to adopt the going concgm basi5 of accounting in preparing the finoncial slalemenls. 1.3 Charlt•bl• funds Unrestricted funds ore available for use at Ihg discrellon of the trustee8 In furtherance of their charStable objecllves. 1.4 Income Income is recognlsed when the chority13 legally enlllled lo It ofter any perfomiance condlllons h8ve been mol. the amounts can be me88ured rellably. and It Is probablg that Income will be r8coiv8d. 1.5 Exp•ndlture Unreslricled funds are available for use al the discrelion of the trustees in furtherance of their charllable objective5 unless the funds have been designated for other purposes. Cost of gener3tlng funds comprlse the costs assocAaled with 8tlracts.ng voluntary Income. Charitable expenditure comprfses those costs incurred by the charity in the delivgry of its adlvitles 8nd services for ils beneffaaries. It indudes both costs that can be dlredy attributed lo particular headings thay hav8 been allocated lo activllies on 8 basis Consislenl with the usa ol resources. 1.6 Tanglbl? fix•d a55ets Tangible fixed 8ssets are initially measured 8t cost and subsequently measured al cost or valuation, net of deprecSallon 8nd any impairment I0￿e￿. GEORGE ELIAS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accountlng policies IContlnu•d} Depreciatlon is recognised so as to write off the cost or valuation of asse15 less their residual values over their useful live5 on the following bases.. RellgSous Scroll No depreclatlon deemed necessary The gain or loss arising on the disposal of an asset is d8termlned as the dlfference between the sale proc8eds and the carrying value of the a8set. and i¥ recognised in thè statement of financial aclivilies. 1.7 Flxed asset Inv•stm•nts Fixe¢J assèl investmen15 are initially measured al Iran8adon PTlc8 excludlng transaction costs, and a subsequently measured at fair value 81 oach r8porting date. Changès in fair value are recognised In nat Incomellexp8nditurè) lor the year. Transaction costs ara expensed as incurred. 1.8 Impalmient of flxed a•sets At 8ach roportlng end date, the charily review8 the c8rrying amounts of It8 tangible asselg to tJelemSne whether there 18 any Indicallon that those assets have suffered an impairment 1098. If any 8uch indlcalion exists, the recoverable amount of the asset Is eslimaled in order to delemilne Ihe extent of the impalmenl loss lif any). 1.9 Cash and cash equlv•lents Cash and cash 8quivalents include cash In hond, depo81ts held al call with b8nks, other short-tem liquid inve51ments with original maluritlos of three months or less, and bank overdrafts. 8ank overdrafts ar8 shown within borrowings in current Ilabllilies. 1.10 Fln•n¢lal In•trum•nt• The charity has elected Io apply the provlsions of Section 11 '8asic Flnanclal Inytrumenls. and Sectlon 12 'OlheT FSnanci81 Inslrurnenls l$sugs' of FRS 102 to all of Its financial inslrnments. Financi81 Inslrumgnls are ￿cognIsed In the chorily's balance sheet when the Gharily become5 party lo the conlr8cIu81 provisions of the Instrument. Financi81 assets and liabiliueg are offset, wth the net amounts presented in the financlal slalements, when there is 8 lagally enlorce8ble right to sel off the recognised 8mounls and there Ss an inlentlon lo sellle on a net basis or lo realise the asset and settle the118bilily simultaneously. 8aslc flnanclal aJ88ts Basic financial assets, whlch Indude debtors ond c88h ond bank b818nces, S￿ ini118lly measur8d al transaction prtce including Iransactr'on costs and are subsequonlly carried at amortised cost using the 8ffectiv8 interest method unless the 8rrangement conslilute5 a financing IransactlDn, where th8 transaction is measured 8t the present V8lue ol the future r8ceipts discounted al a mark8t rale of int8r8st. Financial 8s$8ls classified as recaivable wllhin one year are not omortlsed. B•slc flnanclal Ilabllltles Basic financial liabilities, including creditors and bank108ns are initially recognised at ITan$a¢tion price unless the arrangement conslllutes a financing transaction, where the debt instnJmenl is measured al the present value of the future payments discounted al a market r8te of interest. Financial liabil￿.8S classified as payable wllhln one year are not amortised. Debt instrumanls are subsequently carried at amortisod c05t, using the effective interest rate methc