CHARITY REGISTRATION NUMBEII: 2791 In GROVE CHARITABLE TRUST UNAUDITF,D FINANCIAL STATEMENTS 31 DICEMBF.R 2024
GROVE CHARITABLE TRUST FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 PAGES Trustees, annual report Independenl examiner's report to th¢ Irustees Siatement of financial activities Ito2 Balance sheet Notes to the financial stalements 6toll
GROVE CHARITABLE TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 The Ii'ustee5 prebent theii. report and Ilie unaudited financial statements of ihe Charity for tlie year ended 31 December 2024. REFERENCE AND ADMINISTRATIVE DETAILS Registered charlty name Charity registration number Principal offiee Grove Charitable Ti'ust 279110 23 Elmcrofl Aveniie London NWII ORS THE TRUSTEES MT M Bodner Mr S Elodner Mr A Denderowicz Mr B Bodner STRUCTURE, GOVERNANCE AND MANAGEMENT The day-lo-day affairs of the charity are adtninistei'ed by the board of irustees. New Inistees are appointed based on personal coinpelence. 5pecialisi skills, availability aiid knowled¥e of Ilnd contact with institutions concei'ned with ihe advanceineni of religion in accordance with Ilie Jewish faith and the reli¢f of paveity. New irusrees air indiicied into tl)e workings ofihe charity by Ili¢ existing irustees. OBJECTIVES AND ACTIVITIES The charily is eslablislied ro furthei. those purposes both in the United Kingdorn and abrvad I'ecogn15cd as charitable by English law and in tui'll)eraiice of tlie afoi'eineniioned obje¢t¥ il)e cliarity receives income troin lis cash depo.si15 and tixed asset inve5tiMenis wliicli it Ll(iliscs in the provision and distribution of granls and donations. The trusiees confirm th&t il)ey have referiyd to the gLiiddnce coiitained in the Charity Coinmission'5 general giiidance on public bencfii wl)en reviewing tlie ¢liai'iiy'5 aiins and objeciives and in planning fiitiiie activities and setting the grdni making policy foi. Ihe year. ACHIEVEMENTS AND PERFORMANCE During tlie year ihe charity cDnlinLied ils pliilanthi'opiL aciiviries and lias Inainiained its siipport of educational and oiher charitable insliiulions servinE Ihe wider piiblic in Great Bi'iiain and abroad. Aggre¥ate donations paid diiring tlie year ainounled 10 £3,24012023.. £2,500).
GROVE CHARITABLf. TRUST TRUSTEES, ANNUAL RF.PORT I, ,, .,, YF.AR EI NDED 31 DECEMBER 2024 FINANCIAL REVIEW Tlie financial iesults of ihc charity's activilies foi. the year endcd 31 Deceinber 2024 are fLilly I'eflected in the attached financi81 stateinents together with the notes thereoii. G r¥nl tnaking policy The Charity makes granis and donations io colleges and inslitutions for il)e advancement of religion and ediication and to institutions for the relief of wverty. In Inaking grants and donations, the irusiees use tlieir personal knowledge nf the institution, ils representatives. opei'aiional efficiency and repuiation. Tlie ii'ustees monitor ihe appliealion of the gTanls and donations by ¢ommunicating with representatives of the institLltions. Reserves policy It is ihe charily's policy to maintain unresii'icied funds in oi'dei. to ensiire tliat it is in a position to conliniie its granf-In2king aciivities at a l¢vel consisleni willi iliose wl)icl) liave beeii 11)ainrained in I'eceni years and io cover contingencies of 2dditional calls being Inadc Lipun the cliariry for support of organisations oi. inslilurions in times of need. The cliariiy has total funds of £363,621 as at the balance shcci date. all of which are free Itserves, which the Ii'usi¢es considei. to be adeqiiale to enable tlie Lliarity to Lai'ry on lis charitable aciiviiies inlo the future and to earmark toward5 appi'opriaie invcstinents to generate a ievenLie stream and capital growlh. Risk management The ti'ustees liave assessed tlie major risks lo whicli the chai'iiy is exposed, in panicular those to ilie opei'alions and findnces of the chai'ily, dnd al-e sat15ficd iliai sysieins arc in place io miiigate its exposLlI'e lo those risks. Investment policy Under tlie D¢¢d of Declai'ation of Trust. the ITUStees have ihe poweT lo Inake any investment which Ilicy see fit. The irusiees, investment policy is to Indke inve5tmenis wliicl) will pi'ovide a glldranlced I'evenue streain and a poienlial for capital growtli, willi pailicular pi'efei'ence for siicl) invi4slmcnls Iliat may be converted to liqiiid assels as and wlien required. Tlie Ii'iisiee5 also seek io iiiwesi in pi'opcfly if considercd appi'opriate to the Charity's cireuinstances. Tlie Ii'iistees, annual report was approved on 22 Oclobei. 2025 and siLti)ed on behalf Of the boai'd of by.. Bodner
GROVE CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GIIOVE CHA]UTABLE TRUST YEAR ENDED 31 DECEMBER 2024 I repoit io the truste on my examination of ihe financial slateinenis of Grove Cliaritable Trust ('tlie cliarity,) for the year ended 31 Deceinbei. 2024. RESPONSIBILITIES AND BASIS OF REPORT As the tl'LlStees of the charity yoil air responsible for ihe pi'eparation of the financial staieinents in aLcoi'danee with the requirements of ihe Charitie5 Act 2011 ('the Act,). I I'eport in Tespeci of my examination of the cl)arity'5 fin2ncial siateinents carried out under section 145 of tlie 201 l Act and in carrying out my examination I liave followed all ilie applicable Direeiions given by ihe Chariry Commission under section 145{5Xb) ofthe Act. INDEPENDENT EXAMINER'S STATEMENT I have completed Iny examination. I cot)fii'in Iliat no niaterial Inatlers liave come io Iny aiteniion in ¢onn¢ciion with the examination giving mc caLise to believe il)ai in any Inaierial respect.. accounting records were not kepi in respect of the chariiy as reqLIITed by seciion 130 of the Act,. or the financial stateinents do not accord with ihose I'ecord5,' 01. the fin4incial siatemenls do not coinply with the appli¢RbSe reqLiireinenis concerning ihe foi'm and conteni of account5 set out in ihe Cliarities (Accoiinis and Reports) Reujulalions 2008 oiheT Ilian any reqLiireinent ihal the accounts &Jive a 'irue and fairf vicw whicli is noi a Inaiiei. eonsidered as part ol'an independeiit exaininaiion. I liave no Concerns and have come across no othei Inatiers iii connection witli ihe exaiThinalivn lo wliicli aiienliorb 51)ould be drawn in thi5 report in ol'der to enable a proper undei'sianding of the u¢¢oiinis lo be reached. Barry Leigli FCA Indepeiidcnt Exaii)iner New Burlington Hous¢ 1075 Fincliley Road London NWIIOPU 22 October 2025
GROVE CHARITABLE TRU,ST STATEMEI NT OF FJNANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2024 2024 Unrestricied fiinds Total funds Total fiinds 2023 Nolc Income 2nd endoivment$ Donations and legacies Investinent income 50,732 4,355 50.732 4.355 4,612 3,884 Total iThcome 55,087 55,087 8.496 Expenditure ExpenditLire on charitable activitie5 Total expenditure (4.080) (4,080) (4.080) 14,080) (3,520) (3,520) Net gains on investments 35.282 3S.282 39.932 Net income #md ]bet movement In funds 86,289 86289 44,908 ReconeiliAtion of funds Tolal funds bi'ought forward Totgl funds carrie(I forward 277,332 277,332 232,424 363,621 J63,621 277,332 Tlie sialeinent of financial activities includes all gains and Ios8es I'ecogni5ed in ilie year. All incvine and expei)dilure derive from L'ontinuing activilies. I'he noie5 pag¢5 6 10 1 I loi'ni purl of Illl' Iln'itheijl %rAIL'lll&'Trls.
GROVE CHARITABLE TRUST BALANCE SHEET 31 DECEMBER 2024 2024 2023 FIXED ASSETS Inve.%lTnenis 13 240,152 213.749 CURRENT ASSETS Debtors Cash ai bank and in hand 14 2,993 121,316 124,309 64,422 64,423 CREDITORS: Amounts f&lling due wilhln one year NET CURRENT ASSETS 15 (840) {840) 123,469 63,583 TOTAL ASSETS LESS CURRENT LIABILITIES 363.621 277,332 NET ASSETS 363,621 277,332 FUNDS OF THE CHARITY Unrestricted (unds 363,621 277.332 277,332 Total rharlty funds 16 363.621 These financial slaleinent5 were appi.oved by ihc Eoard oftrustee5 and aiiihoi'i5ed foy issue on 22 October 2025, and are signed on behalf of the boafd by.. I. B Bodner Ti'ustee
GROVE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMF.NTS YEI AR ENDED 31 DECEMBER 2024 GENERAL INFORMATION The cliarity Is a public InefIt enlity and a registered chai'ily in England and Wales and is iinincorporated. The addi'ess ofthe principal office is 23 Elnicrofi AvenLie, London, NW I I ORS. STATEMCI NT OF COMPLIANCE These finanLial slaieinents have been prepared in compliance with fRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Slatemeni of Recominend¢d Practice applicable to chai'ities preparing their accounis in accordance with the Financial Reporting Siandard applicable in the UK and Repiiblic ()f Ireland (FRS 102) {Cliarities SORP IFRS 102)) and the Charities Acr 2011. ACCOUNTING POLICIES Basis of preparHllon The finaiicial statements have been prepared on the hisloi'ical cost basis, 85 modified by il)e I'evaluaiion of certain financial assets and liabilities and invesiment properiie5 measurcd ai fail. alue ihroLigh iiicoine or expenditure. Tl)e financial staleinenis are prepared in sterling, which is Ihe flineiional currency of tlie enlily. Going Concern There ale no material uncertainties about the charity's ability 10 continue. ,ludgemenls and key 50llrce5 of estimation uncertainly There al'e no judgeinents. estimates and as511mpiions that affcci ilie omounl5 repoi1ed. Fund Accounting Uni'esiricted funds are available for use at the discreiion of lh¢ trustees 10 fui1her any of Ilie charity'5 PLlI'poses. Designated funds are unresiricied fiinds earmarked by ihe Irusiecs foi. partiLiilai' fuliire project or coinmilment. Re51rictYd fiinds aie Slibjected lo resiriction.% on iheir expendiriire declared by ilie donoi. or throiigli tlie i¢i'ins of dn appeal, and fall into one of two sub-¢18sses'. I'eslricted incotne funds or endowinent funds. Incoming resources All income is included in tlie staiement of financial activilie.q wlien enlitleiiienl has passed to tlie cliarily, il is probable ihat the economic benefits a.%50cialed will) the transacli()n will flow to tlie chaTily dnd tlie amount can be reliably mea5uied. Tlie following specific policies are applied to pailiciilAr calegories of income.. income fTOrn donations or graT)ts is ¢08n1$ed when there is evidence of eiilitleineni ¢0 the gift, receipt 15 pjobable and its arnoLint can be Tneasured reliably. Resources expended Expendiiiire is I'ecognised on an accnials basis as a liability is incuriEd. Expendiiiii'e inclLides any V A T whicli cannot be fully recovered, and is classified iindei. headings of Ihe sraieinenl ol-l inancial activitie5 to wliicli it relates..
GROVE CHARITABLE TRUST NOTES TO THE FIP4ANCIAL STATEMF.NTS fcy,,,,,,,,., y[1 AR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (colliiniirdl Resources eypended (coltlljtlieil) expendiliire on chariiable aclivities includes (111 costs incuri-ed by a cliai'ily in iindei1akin activities tlial fLiril)ei' its chariiable aiins for tlie benefit of ils beneficiaries. including tliose siippoi1 Costs and costs relating to the Eovernance of the charity apportioned to chai'iihble activilies. other expenditure includes all expenditure ihat Is neither related to raising fLinds for the cliaTIty nor pail of its expenditure on charitable activiiies. All costs ale allo¢aied to expenditLire categoi'ies reflecting tl)e use of tl)C TesouTce. Direct eosls aiti'ibuiable to a single activity are allocaied directly to that activily. Shdred costs ale appoi1ioned bctween the activities iliey conli'ibute lo on a reasonable, jllslifiable and consisteni basis. InwestmeThts Lisied investments are measured at fair value with ¢lianges in fair value being recognised in pi'ofit or loss. Finwn¢ial instruments A linancial asset oi. a linan¢i81 littbilily is recognised only when the enli(y becoines a party ID thc ci)nlractiial provi5ion% of il)e insii'ument. Babic financial inslrLiinentS are iniiially recogni5ed ai the ainount ieceivable or Piiyable incliiding iiy related irai)saction costs, unless tlie ai'rangctneni consiitlltes a finliicing Ii'aiisdLtiOD, whei'e it is recognised at the preseni value of thc fulure payments discoiii)ted ai a mdrkel ralc of inieresl for a sirnilai. debt instriiineni. Curi'enl asse15 and current liabilities are SLibsequently measLired ai ihe cash or oihci. considLration expectcd to be paid oi. I'eceivcd and not dIoUnted. Debi in51ruinenis al'e subsequently measured ai ainortised cost. Wlieic investinents in shares or preference shal'es Bl'e PLiblicly traded ()r tlieii. fail. valiie cdn 0111erwise be measiiitd I'eliably, the inveslmeni is SLibseqLiently Inea%ui'ed dl fair valiie will) Ll)ange5 in fair value Iccogiiised in incoine and exnditi11e. All oil)er SULh investinenls are .subsequently measurcd at cost less impairinent. Financial assets il)ai are measiii'ed at cost or amortised cost are reviewed foi. objeclivv evidence of iinpaiT1neni at the end of. eacli I'epoiling dale. If tlieTe is objeciive evidence ()f iinpaii'inenl. an iinpairinent10ss is recognised under the ai)propriate heading irTr Ihc sidteinenl of financial aciivities in whilli ihe initial gain was Te¢ognised. For all equily inslrLiments re¥aTdless ol'significdnce, and oiher financial a55e15 that are individLially Significant, Ihese are assessed individiially foi. iinpainncnl. Any ieversals of iixpdirinent al'e recogni5ed immediately, to the exient 117at tlie reversal doe5 not resiilt in a cai'i'ying ainouiit of the financial asscl that exceeds wliat the carrying ainoiini would l)avc been had tlic impainnent not pievioiisly been reco¥ni5ed.
GROVE CIIARITABLE TRUST NOTES TO THE FINANCIAL STATF.MENTS (,.,,,,,. , YEAR ENDED 31 DECEMBER 2024 DONATIONS AJYD LEGACIES Unrestricted Total Funds Uni'estricied Total Funds Funds 2024 Funds 2023 DONATIONS Donaiions I'eceived 50,732 50,732 4,612 4,612 INVESTMENT INCOME Unrestricted Total Funds Unrestricled Total Funds Funds 2024 Funds 20?3 Bank inierest I'eceivable Dividends receivable 1.328 3,027 1.328 3,027 607 3,277 607 3.277 4,355 4J55 3,884 3,884 EXPENDITURE ON CHARITABLE ACTIVITIES BV FUP4D TYPE Unresiricied Total Full(Js Unrestricled Total Funds Funds 2024 Fiinds 2023 GTantb paid SLlPPOrt cosls 3,240 840 3.24 840 2.500 1,020 3,520 2.500 4,080 4.080 3,520 EXPENDITURE ON CHARITABLE ACTIVITIES BY AcfiviTY TYPE Grant funding (if ctivities Suppo11 Costs Total funds 2024 Total fLind 2023 Granls paid GovernatJ¢e costs 3,240 3,240 840 2,500 1,020 3.520 840 3,240 840 4,080 ANALYSIS OF GRANTS 2024 2023 GRANTS TO INSTITUTIONS Siipport of edu¢ation and I'elief of poverry Total grants 3,240 2,500 3,240 2,500
GROVE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS I-,,,.,,. YEAR ENDED 31 DECEMBER 2024 ANALYSIS OF GRANTS IC1111111e¢v All grants and donaiions wei'e paid io chai'itable institutions foi. the purposes of eiiliei. the advanceincIit of ediication or the alleviation of poverty. The coinposilion of don4ltions is sliown below. 2024 Tlie Beth Jacob Foundaiion Sundi'y donations 2,500 740 3,240 NET GAINS ON INVESTMENTS Unrestricted TotAI Funds Unrestricted Toial FLinds Funds 2024 Fund5 2023 Gainsl(losses) on listed investments 35,282 3S,282 39,932 39,932 10. INDEPENDENT EXAMINATION FEES 2024 2023 Fees payable io the independent examiner for, Independenl examination of the financial siaiements 840 I I. STAFF COSTS Tlie averagc head counl of employees, inclliding tnisiees. diiring tlie year was 4 (2023..4}. No 5alai.ies oi. wages liav¢ been paid to eTnployees dLlI'ing the year. 12. TRUSTEE REMUP4ERATION AIYD EXPENSES No rciniineration or othei. benefits fiom employin¢ni witli the charity or B I'clated entity were Irceived by the trusiees. No Iriistee expenses have ken incuri'ed.
GROVE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS f YEAR ENDED 31 DECEMBER 2024 13. INVESTMENTS Listtd investments Cost or waluation At l January 2024 Additions Disposals Fair valiie movements 213,749 50,889 (53,658) 29,172 Al 31 December 2U24 240,152 Impairment At l January 2024 and 31 December 2024 Carrying arnount At 31 Decemher 2024 240,152 Al 31 Deceinbei. 2023 213,749 All invesiiiicnls shown above are held at valuaiion. Finan¢ial assetslseld fair value 'ri)e histori¢al cost of the listed investments at 31 Deceinber 2024 is £149,684. 14. DEBTORS 2024 2023 Otl)er debioi'8 2,993 15. CREDITORS: &mounls fAllin¥ due wllhin one year 2024 2023 Accriidls and deferi'ed incvine 840 840 16. ANALYSIS OF CHARITABLE FiiNDS Unre51ricled funds Ai31 Gain5 aT)d December losses 2024 January 2024 Incoine Eypenditiire General fvnds 277,332 55.087 (4,080) 35,282 363.621 At I jdn[lY 20?3 Gains and i l Deceinbei. l0sse5 20?3 Incoine Expendiiiire Qieneral fiinds 232.424 8,496 (3,520) 39,932 277.332
GROVE CHARIT ABLE TRUST NOTES TO THE FINANCIAL STA TIMENTS (cfftvii,,,,,, YEAR ENDED 31 DECEMBER 2024 17. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unresti'i¢ted Total Funds Funds 2024 Invesiinentq Cui'i'enl assets Creditors le55 Ihan l yeti. 240,152 124.309 (840) 363,621 240,152 124J09 (840) 363,621 Net as$et$ Unrestricted Total Funds Funds 2023 Investinenis CLlI'rent asscis Ci'editoi's less than l year Net assets 213.749 64,423 18401 277,332 213,749 64,423 1840) 277J32 18. FINANCIAL INSTRUMENTS The fair values of tlie assets held at fair value ihroLigh profit and loss at ihe balance sheei dale al'e determined iising quoied pi'ices. 19. RF.LATED PARTIES Donations of £380 were Inade lo Friends of Mosdos Sanz of Safad, a chariiy wliose trLislees inclLide