Registered charity number: 277818
Yakar Educational Foundation
Trustees’ report and unaudited financial statements for the year ended 31[st] A ugust 2025
Yakar Educational Foundation
Legal and administrative information
Registered Charity number 277818
Principal address C/o 75 Maygrove Road West Hampstead London NW6 2EG
Trustees Ian Gamse (Chair) Sharmaine Amsellem Charles Ratzersdorfer
Investment Managers Evelyn Partners Limited 45 Gresham Street London EC2V 7BG
Independent Examiner Anthony Epton Goldwins Limited 75 Maygrove Road London NW6 2EG
Yakar Educational Foundation
Contents
| Trustees’ report | page 4 |
|---|---|
| Independent examiner’s report | page 7 |
| Statement of financial activities | page 8 |
| Balance sheet | page 9 |
| Notes to the financial statements | page 10 |
Yakar Educational Foundation
Yakar Educational Foundation
Report of the trustees for the year ended 31[st] A ugust 2025
The trustees present their report with the accounts of the charity for the year ended 31 August 2025.
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102- effective 1 January 2015- (Charities SORP FRS 102).
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Foundation was created by a trust deed dated 7 June 1976 and was registered with the Charity Commission on 1 July 1976.
The Foundation is dedicated to teaching the theory and practise of Judaism in an intellectually open and non-judgemental way to anyone interested in furthering their knowledge, regardless of their background or denomination.
The trustees who served throughout the year were:
Ian Gamse (Chair) Sharmaine Amsellem Charles Ratzersdorfer
The current trustees are actively seeking people who share the values of the Foundation and would make suitable trustees as and when current trustees look to retire.
RISK MANAGEMENT
The trustees have assessed the major risks to which the charity is exposed. In particular, they have reviewed the bank overdraft arrangements and the ability of the charity to meet its future commitments. The trustees are satisfied that systems are in place to mitigate such risks.
OBJECTIVES, ACTIVITIES, ACHIEVEMENT AND PERFORMANCE
The aim of the Foundation is to continue the work of Rabbi Dr Mickey Rosen in developing and promulgating an approach to Judaism which combines tradition with creativity, while at the same time emphasising a sense of social responsibility for the Jewish and wider worlds. Dr Rosen began this activity with the establishment of the Yakar Study Centre in England in the 1970s and it continues through its centres in Jerusalem and Tel Aviv.
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Yakar Educational Foundation
Each of these centres functions as a synagogue, a study centre and a community centre. They put on events and courses in Hebrew and in English to students from post high school age to retirees. Yakar Jerusalem (part of “The Yakar Centre for Tradition and Creativity”, a separate charity in Israel) owns and runs its centre at 10 Halamed Heh Street, Jerusalem. Yakar Tel Aviv operates in a building leased from the Tel Aviv Municipality. The two centres are led by two of Rabbi Dr Mickey Rosen’s sons: Rabbi Dr Shlomo Dov Rosen and Rabbi Chananel Rosen. The centres service in excess of 10,000 people a year, and have a record of continuous growth in terms of both the range of activities and the numbers of people attending. Yakar Tel Aviv is known particularly for its support of young people from the United Kingdom arriving in Tel Aviv and of converts to Judaism from around the world.
FINANCIAL REVIEW
The total incoming resources for the year amounted to £110,690 (2024: £55,844). The principal funding sources for the charity are voluntary donation income and income and gains arising on the investment portfolio. The charity has made an investment gain of £29,062 in the year (2024: gain of £72,424). The foundation contributed funds towards the costs of running the two Yakar centres in Jerusalem and Tel Aviv amounting to £41,608 (2024: £75,000).
It is the Foundation’s policy that unrestricted funds that have not been designated for a specific use should be maintained at a level equivalent to at least the next twelve month’s expenditure. The trustees consider that reserves at this level will ensure that in the event of a sudden drop in funding, the Foundation will be able to continue its current level of activity while consideration is given to ways in which additional funds may be raised.
The Trustees have invested the assets of the Designated Fund in a portfolio of investments managed by Evelyn Partners Limited.
RESERVES POLICY
The charity`s reserves policy is to hold sufficient reserves to enable the charity to continue its activities and services at a meaningful level should there be a drop in income. The trustees review this position annually.
PLANS FOR THE FUTURE
The policy of the Foundation is to enable the centres in Israel to continue their successful activities while working with them to plan for the future. While day to day operational leadership is provided by the directors of the two centres, the trustees and other advisors provide support in matters of strategy and finance.
PUBLIC BENEFIT
The principal activities of the charity during the year continued to be to achieve the objectives as stated above. The trustees are aware of the Charity Commission guidance on public benefit reporting. The trustees believe that the charity achieves a public benefit through the advancement of education and through the advancement of religion.
RESPONSIBILITIES OF THE TRUSTEES
The charity's trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under
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Yakar Educational Foundation
charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and the income and expenditure of the charity for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the trustees by:
Ian Gamse
Trustee
Date: 21[st] June 2026
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Yakar Educational Foundation
Yakar Educational Foundation
Independent examiner’s report to the trustees of Yakar Educational Foundation for the year ended 31[st] A ugust 2025
I report to the trustees on my examination of the accounts of Yakar Educational Foundation for the year ended 31 August 2025.
Responsibilities and basis of report
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form 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 fair view which is not a matter considered as part of an independent examination.
I have no concerns 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.
Anthony Epton BA FCA CTA Goldwins Limited Chartered accountants 75 Maygrove Road London NW6 2EG
25/06/2026
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Yakar Educational Foundation
Yakar Educational Foundation
Statement of financial activities for the year ended 31[st] A ugust 2025
| Amounts in £ | Unrestricted funds | Restricted | Total 2025 | Total 2024 | |
|---|---|---|---|---|---|
| funds | |||||
| Notes | |||||
| Income from | |||||
| Donations | 3 | 95,608 | - | 95,608 | 40,000 |
| Investment income | 4 | 15,082 | - | 15,082 | 15,844 |
| Total income | 110,690 | - | 110,690 | 55,844 | |
| Expenditure on | |||||
| Charitable activities | |||||
| Education | 5 | 84,497 | - | 84,497 | 121,633 |
| Total expenditure | 84,497 | - | 84,497 | 121,633 | |
| Net income before net | 26,193 | - | 26,193 | (65,788) | |
| gains/(losses) on investments | |||||
| Net gains/ (losses) on | 29,062 | 29,062 | 72,424 | ||
| investments | |||||
| Net income/(expenditure) for | 55,255 | 55,255 | 6,636 | ||
| the year | |||||
| Total funds brought forward | 795,484 | 7,731 | 803,215 | 796,579 | |
| Total funds carried forward | 850,739 | 7,731 | 858,470 | 803,215 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements.
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Yakar Educational Foundation
Yakar Educational Foundation
Balance sheet as at 31[st] August 2025
| Amounts in £ | 2025 Total funds | 2024 Total funds | |
|---|---|---|---|
| Notes | |||
| Fixed assets | |||
| Tangible assets | 7 | 562 | 625 |
| Investments | 8 | 847,932 | 803,589 |
| 848,494 | 804,214 | ||
| Current assets | |||
| Cash at bank | 16,146 | 3,271 | |
| Liabilities | |||
| Creditors: amounts falling due | 9 | (6,170) | (4,270) |
| within one year | |||
| Net current assets/ (liabilities)/ | 9,976 | (999) | |
| Total assets less current liabilities | 858,470 | 803,215 | |
| Funds | |||
| Restricted funds | 10 | 7,731 | 7,731 |
| Unrestricted funds | 11 | 850,739 | 795,484 |
| Total funds | 858,470 | 803,215 |
The financial statements were approved by the Trustees on 21[st] June 2026 and were signed on its behalf by:
Ian Gamse Trustee
The notes on the attached pages form part of these financial statements.
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Yakar Educational Foundation
Yakar Educational Foundation
Notes to the financial statements for the year ended 31[st] A ugust 2025
1. Accounting policies
a) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 - effective 1 January 2015) - (Charities SORP FRS 102) and the Charities Act 2011.
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
b) Going concern
The trustees consider that there are no material uncertainties about the charity`s ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
c) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met.
d) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
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Yakar Educational Foundation
e) Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
f) Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
g) Tangible fixed assets
Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
Torah scroll 10% reducing balance
i) Listed investments
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities.
j) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
k) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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Yakar Educational Foundation
2. Detailed comparatives for the statement of financial activities
| Amounts in £ | Unrestricted | Restricted | Total | |
|---|---|---|---|---|
| funds | funds | 2024 | ||
| Notes | ||||
| Income from | ||||
| Donations | 3 | 40,000 | 40,000 | |
| Investment income | 4 | 15,844 | 15,844 | |
| Total income | 55,844 | 55,844 | ||
| Expenditure on | ||||
| Charitable activities | ||||
| Education | 5 | 121,632 | 121,632 | |
| Total expenditure | 121,632 | 121,632 | ||
| Net (expenditure)before net | ||||
| gains/(losses) on investments | (65,788) | (65,788) | ||
| Net gains on investments | 72,424 | 72,424 | ||
| Net income for the year | 6,636 | 6,636 | ||
| Total funds brought forward | 788,848 | 7,731 | 796,579 | |
| Total funds carried forward | 795,484 | 7,731 | 803,215 |
3. Donations
| Amounts in £ | Unrestricted | Designated | Restricted | Total | Total |
|---|---|---|---|---|---|
| funds | funds | funds | 2025 | 2024 | |
| 95,608 | 95,608 | 40,000 | |||
| 95,608 | 95,608 | 40,000 |
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Yakar Educational Foundation
4. Investment income
| Amounts in £ | Unrestricted | Designated | Restricted funds | Total | Total |
|---|---|---|---|---|---|
| funds | funds | 2025 | 2024 | ||
| Interest receivable | 3,939 | 3,939 | 3,380 | ||
| Dividends | 11,143 | 11,143 | 12,464 | ||
| 15,082 | 15,082 | 15,844 |
5. Analysis of expenditure
| Amounts in £ | Unrestricted funds | Unrestricted funds |
|---|---|---|
| 2025 | 2024 | |
| Charitable activities | ||
| Donations to overseas institutions - Education | 41,608 | 75,000 |
| Consultancy fees | 35,000 | 35,000 |
| Management fees | 5,854 | 7,227 |
| Depreciation | 63 | 70 |
| Bank charges | 72 | 35 |
| Independent examination fee | 1,500 | 3,950 |
| Accountancy fee | 400 | 350 |
| 84,497 | 121,632 |
6. Net income/(expenditure) for the year
| Amounts in £ | 2025 | 2024 |
|---|---|---|
| This is stated after charging/ (crediting): | ||
| Depreciation | 63 | 70 |
| Independent examiner’s fee | 1,500 | 3,950 |
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Yakar Educational Foundation
7. Tangible assets
| Amounts in £ | Torah scroll | Totals |
|---|---|---|
| Cost | ||
| At 1st September 2024 | 7,934 | 7,934 |
| Additions | - | - |
| At 31st August 2025 | 7,934 | 7,934 |
| Depreciation | ||
| At 1st September 2024 | 7,309 | 7,309 |
| Charge for the year | 63 | 63 |
| Disposals | - | - |
| At 31st August 2025 | 7,372 | 7,372 |
| Net book value | ||
| At 31st August 2025 | 562 | 562 |
| At 31st August 2024 | 625 | 625 |
| 8. Fixed asset investments |
||
| Amounts in £ | 2025 | 2024 |
| Investment funds | 711,621 | 688,559 |
| Listed investments- UK | 136,311 | 115,030 |
| Market value at the end of the year | 847,932 | 803,589 |
| Movements | ||
| Market value at the start of the year | 803,589 | 793,478 |
| Additions at cost | 493,196 | 111,766 |
| Disposals proceeds | (477,915) | (174,079) |
| Net gain/ (loss) on investments | 29,062 | 72,424 |
| Market value at the end of the year | 847,932 | 803,589 |
| 9. Creditors: amounts falling due within one year |
||
| Amounts in £ | 2025 | 2024 |
| Accruals | 6,170 | 4,300 |
| Total short-term creditors | 6,170 | 4,300 |
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Yakar Educational Foundation
10. Restricted funds
| Amounts in £ | Movement | in funds | |||
|---|---|---|---|---|---|
| Balance at | Balance at | ||||
| 1 September | Incoming | Resources | 31 August | ||
| 2024 | resources | expended | Transfers | 2025 | |
| Yakar Israel | 7,731 | 7,731 | |||
| Total | 7,731 | 7,731 |
The Yakar Israel fund was established to carry out the charitable objectives of the Yakar Educational Foundation in Israel. The balance of £7,731 comprises the unexpended balance of donations and grants held on trust for this specific purpose.
| Prior year | Movement | in funds | |||
|---|---|---|---|---|---|
| Balance at | Balance at | ||||
| 1 September | Incoming | Resources | 31 August | ||
| 2023 | resources | expended | Transfers | 2024 | |
| Yakar Israel | 7,731 | 7,731 | |||
| Total | 7,731 | 7,731 |
11. Analysis of net assets between funds
| Amounts in £ | Unrestricted funds | Restricted funds | Total |
|---|---|---|---|
| Fund balances are represented by | |||
| Tangible fixed assets | 562 | - | 562 |
| Investments | 847,932 | - | 847,932 |
| Current assets | 8,415 | 7,731 | 16,146 |
| Creditors: amounts falling due within one year | (6,170) | - | (6,170) |
| Total funds | 850,739 | 7,731 | 858,470 |
| Prior year | Unrestricted funds | Restricted funds | Total |
| Fund balances are represented by | |||
| Tangible fixed assets | 625 | - | 625 |
| Investments | 803,589 | - | 803,589 |
| Current assets | (4,430) | 7,731 | 3,271 |
| Creditors: amounts falling due within one year | (4,300) | - | (4,300) |
| Total funds | 795,484 | 7,731 | 803,215 |
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Yakar Educational Foundation
- Emoluments of the trustees
Trustees did not receive any remuneration during the year (2024: Nil).
There were no employees in the year (2024: none).
There were no employee benefits payments to key management personnel in the year (2024: Nil).
- Related party transactions
There are no related party transactions to disclose during the year (2024: Nil).
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