Registered numbgr: 01477534 Charlty number: 279476 D.T.F. LIMITED (A Company Llmlted by Guarantee) Tru5tees' Report and Financial Statements For the year ended 30 June 2025
D.T.F. LIMITED IA Company Limited by Guarantoe) Contents Pago Referen¢0 and Admlnlstratlve D•talls of thfr Company* Its Trustè8$ and Advi$grs Trustees. Report Indèpendont Audltorfs Report on the Flnancial Statements Consolldated Statemgnl of FIDahclal Actlvlties Consolldated Balanco Shfrgt 10 Company Balanc8 Sheet Consolldated Statgm9nt of Cash Flows 11 12 Notes to the Flnanclal Statemènts 13-22
D.T.F. LIMITED {A Company Llmlted by Guarant¢el Reference and Admlnlstratlve Details of the Company. Its Trust99$ and Advlsers For thg year gndod 30 Junè 2026 Trustees D Tannen (Resigned 31 Oclobor 20251 Ml Tannen DA Tannen J M Milter Company reglster&d numbor 01477534 Charlty reglst8red number 279476 Reglstored offic¢ Sulhert8nd House 70-78 Wesl Hendon Broadway London NW9 7BT Company sacratary J M Miller Audliors Melinek Fine LLP Chartered Accountants statutory Auditors Winston Hou88 349 Regents Park Road London N31DH Bankers Barclays Bank PIC 1 Churchill Place Canary Wharf London E14 5HP Page 1
D.T.F. LIMITED IA Company Llmlted by Guarantee) Trustges, Report For the yr ended 30 June 2025 The Trustees present their annual ieport together wilh the audi18d fÉnancial $18lements ol the Company for the ended 30 June 2025. The Annual Report S8rves the purposes of both a Trustees, report and a directors, report under company law. The Trusteès Gonfirm that the Annual Report and financial slalemenls of the charitable company comply with the current staulory requirements, the requirements of the charitable company's goveming document and the provisions of the Statement of Recommended Practice {SORP) 8pplicable lo charities preparing their 8¢counls in accordanc8 with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS102)18ffective l January 20191. Since the group and thè Company qualify as small under section 383 of the Companiès Acl 2006, the Group Strategic Report required of medium and large companies under th6 Compani&s Act 2006 Islfategic Report and Directors. Report) Regulations 2013 has been omilled. Oblectlves and activltles Pollcies and obJectiV05 The objects of the charity are lo relieve povèrty, distre88 and suffefing in any part of th8 world and to promote the Jewish religion and education through charitable meany. The Iruslees conlifm that they have referred lo the guidance contained in the Charity Commission's general guidance on public b8n8lil, and in particular lo Ils Supplementary public benefit guidance on advancing education, when reviewing the trusts aims and objertives, in planning fuluTe activities and in selling the grant making policy for the year. There have been no material chang&s in thè objeclives or policies gf the charity during thè year. Grant4naking pollcie5 The tTusle8s continue lo successfully achieve the objeds of the charity by making numerous donations in g8n8ral lo registered charities. Applications are evaluated by the trustees on a case specific basis in accordance with the charitls objectives. Achlavoments and performanc$ • Revl8w ol actlvltlfjs During the year under review, the charity made charitable donations of £220,76912024- £292.0831. The Iruste8s are pleased lo report that they have supported a rang8 of community based inslilulions providing education. religious and welf8re programmes. They continue lo sea that local provision of e(lucalion and welfare initiatives slrenglhens Community infraslruclufe arKI results in significant achievements in the advancement of educat¢on. the relief of proverty and distre$5 and the provision of social support. Fundralslng a¢tlvStles and Income gongration The principal source of incom& arises from rents collected from inveslmenl propertie8 owned by tho charity and ils subsidiaries. These incoming resources have allowed thè Iruslees lo make further grants during the year thus achieving the objects of the charity. P8ge 2
D.T.F. LIMITED IA Company Llmlted by Guarant981 TNstees' Report lcontinugdl For the year ended 30 June 2025 A¢hlev8ments and performance lcontlnuod) • Invggtment polbcy and perfomiance Undgr the Memorandum and Articles of Association, the charity has the power lo make any investment whiGh the trustees see liL The ITUStees continue to assess the charity's investment portfolio and 8eek new investment opportunitie5 to ensure that the ¢haritVg asset bas& is rnainlained and suitable profits are generated. The trustees are satisfied with the return on investments achieved during the year and aT8 confident Ihal the harily has adequate reserves to fulfil its charitable obligations. Flnan¢ial r8vl8w • Reserves yM)Ilcy Any assets retained will bo solely for the purpose of g8n8raling income lo cover any dislfibulion policy that the trustees may fom)ulate in the future. The charily maintains sufficlenl cash reserves lo.. fund grants in furtheranc& ol th@ objects ofthe charity for the following ye8rs', m88t demands for liquidily and refinancing of the group's substantial investment portfolio in drfficult credit market ¢ondilions,' and ensure repayments of the charills bank loans can be paid as they fall due. At th8 year end the ch8rity had tree available reserves of £2,669,728. Structure, governance and management • Con$tUtIOn D.T.F. Limited is registered as a chgrilable Company l¥nit8d by guarantee and was sel up by a Mémorandum of Association. The charity was incorporated on 6 February 1980. Boards of Trustees Thè Iruslees of th8 charity who [Ved during the year and who have continued lo serve since the year end were.. D Tannen, J M Miller, Ml Tannen, DA Tannen. The day lo day running of the trust ha6 beèn delegated to J M Millar. Trustees are appoin16d by D Tannen as Tequirad. There are no fomial policies or procedures for the appoinlmenl. recruilmenl and inducti)n of trustees. • Risk management The Iruslèes have assessed the major risks to which the company and the group is 6xposed. in particular those rel318d lo the operations and financ&s of the company and the group. and are 8atssfied that systems and procedures are in place lo manage our exposure lo the major risks. Page 3
D.T.F. LIMITED IA Company Llmited by Guarantee) Trustg9s' R¢port Icontlnuedl For the year ènd8d 30 June 2025 statemont of Tru5tees' respon$lbilities The Truslèes (who are also the directors of the Company for Ihe purposes of company lawl are responsible for preparing the Truste8s' Report and the financial statements in accordance with apPIab}e law and United Kingdom Accounting Slan¢Jafds (United Kingdom G8n8rally Apted Accounting Practicè). Company law requlres the Trustees lo prepare financlal slal6ment$ for each financial . Under company law. the Trusle&s musl not approve the financial statements unless they ar8 satisfied that they give a true and fair view of the slate of affairs of the Gioup and the Company and of thgir incoming resources and 8ppli¢alion of resgurces, including their income and expenditure, for that pèriod. In preparing these financial statements, the Trust88s are requirod to" select suitable accounting policies and then apply them ¢onsislenlly', obseNe the methods and principle8 of the Charities SORP (FRS 1021., make judgments and accounting eslimales that are reasonable and prudent., stste whether appli¢8ble UK Accounting Standards IFRS 1021 have been followed, subject Io 8ny material departures dis¢losed and explained in the financial slalements., PTepare the financial statements on the going concern basis unless il is inappropriate lo presume that the Group will conllnue in businoss. The Trustee8 are responsible for keeping adequate accounllng records that ore sufficient to show and explain the Group and the Companys transactions and disclose with reasonable accuracy at any lime the financial position of the Group and the Company and enable them to 8nsure that the financial slatemenls comply with the Comp8nios Ad 2006. They are also r8spon8ible for safeguarding the assets of the Group and the Company and hence fo¥ taking reasonable slep$ for the prevention and detection of fraud and other irregularities. Olsclosure of Informatlon to auditor Each of the persons who are Trustees at the lime when this Trustees, R8POrt is approved has confimed that.. so far a8 Ihat Trustee is aware, there is no relevant audrt information of which the charitable group's auditor is unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and lo estsblish that the charitable group's auditor 18 aware of that Informallon. Audltor The audltor, Melinek Fine LLP, has indicated his willingneBs lo continue in office. The designated Tru818es WII propgse a motion reappointing the auditor 8t a meeting of the Truglees. Approved by order of the members of the board of Trustees and SKJned on their behalf by.. LV J M Mlllgr Trustee Dale.. 15ft1¥1 JOJL Pag8 4
D.T.F. LIMITED IA Company Limited by Guarante0} Independent Audltor's Report to thfy MeMr$ of D.T.F. Llmlted Oplnlon We have audil8d the financial statements of D.T.F. Limiled (the 'pafenl charitable company'l and ils subsidiarie5 Ilhe 'group'l for the year ended 30 June 2025 which ¢omprise the Consolidated Slalemenl of Financial Activltles, the Consolidated Balance Sheet, th8 Company Balance Sheet, the Consolidated Sla18menl of Cash Flows and the related notes, including a Summary of significant accounting policies. The financial reporting framework that has been 8ppSied in their prep8ralion 18 applicable law and United Kingdom Accounlifig Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland, (Uni1 Kingd¢yn Generally Accepted Accounting Practice). In our opinion the financial st8temenls-. give a tfue and fair view of the slate of the Group's and of the parent charitabl8 company's affairs as at 30 Juno 2025 and of the Group's incoming re8ource8 and application of resources, includin9 Its income and exp8ndilure for the year then endèd., h8ve been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have b8en prepared in accordanc8 Mlh the requirements of thè Companies Act 2006 and the Charities Ac12011. Ba$ls for opinlon We conducted our audit in accordance with International Standard8 on Auditin9 IUKI IISAS {UKII and applicable law. Our responsibilities under those standards are further described in the Audil0rf8 responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordan¢e with the ethical requirements that are relevant lo our audit of the financial slalements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fullilled our other ethical responsibilities in accordance with these requirements. We believe that lh8 audit evidence we hav8 obtained is sufficienl and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial st818menls, we have concluded that the Trusteos. use of the going con¢em basis of accounting in the preparation of the financial stslemanls is appropriate. Based on the work we have performed, we have not identified any material uncertainlias relating lo evènts or conditions that, individually or collectively, may cast significant doubl on the Group's or the parent charitable company's ability lo continue as a going concern for o period of at least e1Ve months from when the financial statements are aulhori8ed for issue. Our re8ponsibilili&s and the responsibilities of the Trustees with respect lo going concem are dèscribed In the relevant sections of this report. Page 5
D.T.F. LIMITED IA Company Llmlted by Guarantee) Independent Audltorfs Report to the Mèmbers of D.T.F. Llmlted Icontlnugdl Other Informatlon Thè other information comprises the information included in the Annual Report other than the financial slalemenls and our AudStols Report Ihereon. The Trustees ar8 responsible for the other information contained within the Annual Report, OUT opinion on the financial slalemenls does not cover th8 other infomialion and. except lo the exienl othe1$8 8xplicitly 8laled in our report. we do not &xpres5 any form of assuraneè on¢lugion thereon. Our responsibility is to read the other information and, in doing so. consider whether the i)th8r information is materially incon81slenl with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misslaled. If we identify such materi81 inconsislencie8 or apparent material misstatements, we aTe required to deleimine wh8ther this gives rise lo a material misstatement in the financi81 statements themsefves. If, based on the work we have performed, we conclude that there is a material misslalement of this other information. we are Tequired lo report that fact. We have nothing to report in this regard. Oplnlon on other matt&rs prescrlbed by the Companie8 Act 2006 In our opinion. based on the work undertaken in the coufs8 of thè audit., the information given in tho Trustees, Report for the financial year for whi¢h the financial slalemenls are prèpared is consistent with the financial slaloments. the Trustees, Report has beon prepared in accordance with applicablo legal requi¢tment8. Mattors on whlch we ar8 roqulred to report by excèptlon In the light of our knowladge and under8tandiny of the charitable company and 118 environment obtained in the ourse of the audit. we have not identified material misslalements in the Truslee5' Report. We have nothing lo report in respect of the following matters in rélation lo which Companies Aet 2006 requirgs us to report lo you if, in our opinion.. the parent charitoble company has not kept adequate and sufficient accounting records. or returns adequate for our audit have not been received from branches not visited by us., or the parent charitable company financial statements are not in agreement with the accounting records and Telurns., or certain disclosures of Trusleas, remuneration Specified by law are not made., or we have not received 011 the infomalion and explanations we require for our audit,. or the Trustees were not entitled lo prepare the financial statements in accordance wrth thè sm811 companies regime and lake advantage of the small companies, exemptions in preparing the Tru8le8S' Report and from the requirement to prepare a Strategic Report. Responslbllltlos of trustees As explained more fully in the Trustees. Responsibilities Statement, Ihe Trustees (who are also the directors of the charitable company for the purposes ol company law} are responsible for the preparation of the financial glalemenls and for being satisfied that they give a true and fair view, and for such inlornal control as the Trustees determine is necessary lo enable the preparation of financial statements that are free from material misstalemenl, whether due lo fraud or error. In preparing the financial slalemenls, the Trustees are responsible for assessing the Group's and the parent charitable company's ability lo continue as 8 going concern. disclosing, as applicable, matl8rs related to going concern and using the going concern basis of accounling unless the Trustees either intend lo liquidate the GTQUP or the par&nl Charitab company or to cea8e operations. or have no realistic allernalive bul lo do so. Page 6
D.T.F. LIMITED IA Company Llmlted by Guarantee) Indepehdènt Audltor'$ Rèport to the Mombgrs of D.T.F. Llmlted Icontinuad) Audltorfs respon$ibilltles lor the audSt ol the financlal statoments Our objedives are lo obtain reasonable assurance about whether the financial statnen18 as a whol8 are free from material misstatement, whelhar due lo fraud or error. and to 1S8ue an Auditorfs Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will aayS deled a material misstalemenl when it exists. Misslalem8nls can arise from fraud 01 error and 8re considered maleiial if, individually or in the aggregate. they could reasonably be expected to influence the 8conomi¢ decisions of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design ProdureS in line with our respDnsibilities. outlined above, to de18cI material misstatements in respect of irregularities, including fraud. The extsnl lo whtch our procedures are capable of detecting i¥regularilig5. including fraud is detailed below.. We identifi'ed areas of laws and regulations that could reasonably be expected lo have a material effè¢1 on the linancial slalemenls from OUT sector exp8riance through discussion with the trustees and other management las reqLsired by aLKliling standards). We had regard lo laws and regulations in areas that directly affect the financial st8tem¢nts including financial reporting lincluding related legislation) and laxalion legislation. We considered that extent of compliance with those laws and regulations as part of our procedufes on the relale11 financial statements ilem8. With the exception of any known or possible non-compliance, and as requlred by auditing standard$, our work in respect of these was limited to enquiry of the trustees and managemer¢t. We communicated identified laws and regul81ions throughout our team and remained alert to any indications of non-compliance throughout the audit. We addressed th¢ risk of fraud thrtsugh management override of controls, by lesling the appropriateness of journal entries and other adjustments,. and evaluating the business rational¢ of any significant transactions that are unusual or outslde th& nomal course of business. Our audit procedures were designed lo respond to risks of material misstatement in the financial slalements, recognising that the risk of not detecting a material misstalemenl due lo fraud is higher than the risk of not delecling one resulting from error, as fraud may invofve delib6rale concealm8nt by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and IransaGlions reflected in the financial stalem8nls, the les5 likely we are lo become aware of it. A further descTiplion of our responsibilities for the audit of th8 financial stalemfjnls is located oft Financial Reporting CounGil's webgile al.. .frc.or .uklaudilorsrgs ons'bilities. This description forms part of our Auditor's Report. Page 7
D.T.F. LIMITED (A Company Limltèd by Guarant88} Indepèndent Auditor's Roport to thè Member6 of D.T.F. Limited lcontlnul Use of our report This report is made solely lo the charitable company's members. as a body, in accordance with Chapl8r 3 of Part 16 of the Companies Act 2006. and to the charitable companls trusle&s, as a body, Part 4 of the Charili&s (AcconIS and Reports) Regulations 2008. Our audit work has been undertaken so that we might state lo the charitable company's members those maller8 we are required to 51ale to them in an Auditor's Report and for no other purpose. To the fullest extent p8rmitted by law, we do not accept or assume r8sponsibilily lo anyone other Ihari the charitablo company and ils members, as a body, for our audit work, for this report, or for the opinions we have formed. Aryeh Mellnek (Senlor Statutory Audltor) for And on behalf of Mellnok Fine LLP Chartered Accountants Slalutory Auditors Winston House 349 Reg8nts Park Road London N3 1DH Dale.. I Page 8
D.T.F. LIMITED IA Company Limited by Guarant08} Consolidatèd Statoment of tlnancial actlvSties1Sn¢orporating ihcome and ?xponditure account) For the year ended 30 June 2025 Unrestrlcted funds 2025 Total funds 2025 Total funds 2024 Notg Income from: Donalons and legacies Investments 16,916 1,923,861 16,916 1.923,861 148,664 1,794,679 Total Incom8 1.940,777 1.940,777 1.943,343 Expèndlturg on: Raising funds Charitable activit$ 1.469,319 234,629 1,469,319 234,629 1,322,550 305,943 Totsl expendlture 1,703,948 1.703.948 1.628,493 Net Income for the year and movement In funds before other rècognl$ed galnslllossesl 236,829 236.829 314,850 Other recognlsgd gainslllossesl: Losses on revaluation of fixed assets 12,486,423) Not movomont In lund$ 236,829 236,829 12.171.573) Reconclllatlon of funds: Total funds brought forward Nel movement in funds 14.269,540 236,829 14,269.640 236,829 16,441,113 {2.171,573} Total funds carrled forward 14,506,369 14,606.369 14,269,540 The Consolidated Statement of Finaneial Actwilies includes all gains and losses recognised in the year. The notes on pages 13 10 22 form part of these financlal 8lalemenls. Page S
D.T.F. LIMITED IA Company Llmlted by Guarantpèl Reglstered number: 01477534 Consolldated Balancg Sheet As at 30 Jun& 2025 2025 2024 Note Fixed assets Investment prc¢)erty 14 25.050.000 25,050.000 25.OSO.OIJO 25,050.000 Currant assets DebtcK$ Cash al bank and in hand 15 1.810.620 2,149,179 680.909 4.178.332 3.959,799 4,8S9,241 Cuffgnt liabllltles Creditors.. 8moun16 falling due within one year 18 11,290.0731 12,793,075) Not currènt assets 2.669.726 2,066,166 Total assets loss current Ilabilities 27,719,726 27.116,166 Creditors.. amunls lalling due aftei more than one year 17 113,213.3671 112,846,626} Total net a$$ets 14,506,369 14,269,540 Charlty funds Unrestricted funds 18 14.506,369 14,269,540 Tolal funds 14,506.369 14.289.540 The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accout)ling record5 and preparation of financial slalements. The financial slalemenls have been prepared in accordance wf(h the provisions applicable to entities subject lo the small Companies regim8. The financial statements were approved and aulhofised for issue by the Trustees and signed on Ihair b8hall by.. k L4, J fvl Mlller Tiuslee Dale.. I510¥12oJQ The notes on pag8s 13 to 22 fomi part of the8e financial statements. Page 10
D.T.F. LIMITED IA Company Limiled by Guarantee) Règlstered number: 01477534 Company Statemènt of flnanclal posltlon As at 30 June 202S 2025 2024 Notè Flxèd assets Investments Investment property 13 14 181.902 13,945,000 181.902 13,945,000 14.126.902 14,126,902 Current assets Debtors Cash al bank and in hand 15 4,967,309 148,137 4.844.845 594,320 5,115.446 5,439,165 Current Ilabllltl&s Credilor$'. amounts falling due within ono year 16 {3.009,3491 13,603.764) Net ¢urr•nt assets 2,106.097 1,835,401 Total assets less current Ilabllities 16,232,999 15,962,303 Creditor8'. amounts falling due after more than one year 17 18,029.609} {7,914.5231 Total net assèts 8.203,390 8.047,780 Charlty funds Unrestricted funds 18 8.203,390 8,047,780 Total lunds 8,203,390 8.047.780 The Companls nel movement in funds for the year was £155.61012024 - £12,828,7521}. The Trustees acknowledge their responsibilities for Complying wbth the requiremonts of the Act with respect lo accounting iecord8 and preparation of fingncial Statements. The financial statements hav8 been prepared in aecordanc8 Wlth the piovisigns appllcable to enlilies subject lo the sm811 companie8 regime. ial slalemenls were approved and aulhor¢sed for issue by thè Trustees and signed on their behalf by. Th? fina K Tr- J M Miller Truste8 Date. i s[¢)*l>)il The notes on pages 13 to 22 form part of theso finan¢ial slalemenls. Page11
D.T.F. LIMITED IA Company Llmlted by Guarantee) Consolldated Statement of Ca$h Flows For tho ygar ended 30 June 2025 2025 2024 Note Cash flows from operating actlvitles Net cash used in operating activities 19 89,971 1.068,095 Cash flows from Inve$tlng actlvltles Purchase of investments 11,416,813) Net cash provlded byllu$ed In) Invftstlng activStle$ 11 A16,B131 Cash flows from flnanclng activltles Cash inflows from new borrowing Repayments of borrowing Interest payablè 750,000 5.400,000 11.832.090) {3,107,0001 (1,037.0341 {819,9701 Nèt Cash lusgd invprovlded by financlng actlYStlg$ {2,119,124} 1N73.030 Changè In cash and cash equlvalents In the year Cash and cash equtvalenls at the beginning of the year 11025.1 $31 1,124,312 4,178,332 3,054,020 Cash and cash equivalents at thg ond of the year 20 2.149,179 4,178.332 The notes on pages 1310 22 form part of th8se financial statements Page 12
D.T.F. LIMITÉD (A Company Limlted by Guarantee) Notes to the Flnanclal Statgments For the ygar ended 30 June 2025 General Snformation O.T.F. Ltd is a charitabla trust registered in England and Walès under the Charities Act. The address of the registered office is given on the Information page. Accountlng pollclos 2.1 Bas15 of preparation of Ilnanclal statements Th8 financial slalemenls have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Pradice applicable lo charities preparing their a¢¢ount8 in ac¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019}, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. D.T.F. Limited meets the definiliDn of a public benefff entily under FRS 102. Assets and liabilities are initially recognised zt hlslor¢cal cost or liansaclion valu8 unle&8 otherwise stated in the relevanl accounting policy. The Consolidated Slalement of Financial Aclivilies ISOFAI and ConsoITdaled Balance Sheet consolidate the financial slatem¢nls of the Company and ils subsidiary undertaking, The results of the subsldlary are consolidated on a lin8 by line basis. The Company has taken advantage of the 8x8mplion allowed under sedion 408 of the Companies Act 2006 and has nol presented its own Slalem8nt of Financial Activities in Ihesa financial statement8. 2.2 Company statu$ The cornpany is 8 company limited by guarantee. Tha members of the company are the Iruslees nam8d on page 1. In the èvenl of the company being wound up, the liabilily in ¥espect of the guarantee 1$ 10 £1 per member of the company. 2.3 Taxation The charity is exempl from corporation lax on its charitable activities. 2A InGome All income is recognised once the Company has enlillemenl lo the income, il is probabl8 that the income will be received and the amount of income receivable can b& measured reliably. Voluntary income 1$ received by way of donations and gifts and is in¢dad in full in the Statement of Finan¢ial Activities {SOFAI when receivable. Income tax rewverable in relation to investment income Is recognised at the lime the inveslm8nl inwne is receivable. Pagè 13
D.T.F. LIMITED IA Company Llmited by Guarantoe} Notes to the Flnan¢lal Statemènts For the year ondfjd 30 June 2025 Accountlng pollcles {contlnuodl 2.5 Expenditur8 Expendlturè 18 recognised Once there is a legal or constructive obligolion to transfer 8conDmic benefit to a third party. it is wobable that a transfer gf economic benefits will be ie4uired in selll6menl and the amount of the obligation can be measur8d reliably. Exp&ndilure is classified by 8clivily. The costs of each activity are made up of the total of direct cost8 and shared costs, including support costs involved in undertaking each activity. Direct ¢osts atlribulable lo a singl8 aclivily are allocated directly lo that activity. Shar¢d ¢osls which conlribule lo more than one activity and support co$ls which are not attributable to a Single activity are apportion between those activities on a basis ¢onsislenl with the use of resources. Central staff eo81s are allocated on the basis gf lime spent, and depreciation charges alloealed on the portion of the asset's Use. ExpenditUTe on ralsing funds includes all expenditure incurred by th8 Group to raise funds lor its charitable purposes and includes costs of all fundiaising activiti events and non-charilable trading. Expenditure on chariiable acliiritie8 is incurred on directly undertaking the activities which further the Group's c+)jectivès, as w811 as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases wherè the offer is condition81, such grants being r8cognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met al the year end are noted as a eommilmenl, bul not accn¢ed as expenditure. All expenditure Is Inclusive of irrecoverable VAT. 2.6 Interest recoivablo Interest on n8 held on deposit is includ8d when Teceivable and the amount Can b8 measured reliably by the Group,. this is normally upon notifitioft of the inler&st paid or payablo by the institution with whom the funds are deposited. 2.7 Investments Fixed asset investments are a form of financial instrument and are inbtially recognised at th&ir transaction ¢osl and subsequently measured al fair value al the Balance Sheet dale. unless the value cannot be measured reliably in which case il is measured al cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLosses} on investments, in the Consolidated Slalement of Financial Aclivilies. Investments in subsidiaries are Valu at ¢osl less provision for impairment. 2A Investment Property Investment property 18 carrted al fair value determined annually and derived from external valuations. the current market rents and investment property weld5 for comparable real eslale. adjusted if necessary for any differonce in the nature, location or condition of the specific asseL No depre¢Fation is provided. Changes in fair value aro TKognised in the SOFA. 2.9 Financlal Instruments The Group only has financial assets and financial liabilities of a kind that qualify as basic financial Instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured al their selllemenl value with the exception of bank loans which ale subsequently measured at amortised cost using the effective interest method. Page 14
D.T.F. LIMITED {A Company Llmitèd by Guaranteel Notes to the Flnancial Statèmènts For the year ended 30 June 2025 A¢countlng policies {continuedl 2.10 Fund accounting General funds are unrestrioled funds which are available for use at the discretion of the Trustees in furtherance of Ihe genèral obj8clives of the Group and which have not been designated for other purposes. Investment ineome, g3ins and losses are alknc8ted lo the appropriate fund. Judg8monts In applylng a¢counllny pollcles and key sourcos of estlmatlon uncgrtainty In preparing Ih8se financial slalemenls the directors have made judgements lo determine the fair v?lue of the companls investment property. Factors taken into consideration in¢ludo the current mafkel rents and investment property yields for comparable Teal estate, adjusted if necessary for any difference in the natur?, location or condition of the speciftc asset. Net movement In fund$ The nel movement in tho funds of the company for the year was a surplus of £155,610 12024.. defKil £2,828,752) and has been dealt with the statement of Financial A¢livities of the company. Income from donatlons ancl1ogaGies Unrestrled funds 2025 Total funds 2026 Totsl funds 2024 Donations 18,916 16,916 148,664 Investment Income Unrestricted funds 2025 Total funds 2025 Total funds 2024 Investment inwme- local investment properties Investment income- local cash 1,921,127 2,734 1.921,127 2.734 1.794,292 387 1,923,861 1.923,861 1,794,879 Page 15
D.T.F. LIMITED {A Company Llmlted by Guaranteel Notes to the Flnancial Statements For the yèar endèd 30 June 2025 Investment management costs UnrestrlGted funds 2025 Total funds 2025 Total funds 2024 Bank loan interest Bank Charges Property expenses 1,037,034 8.042 424,243 1.037,034 8.042 424,243 819,970 9,280 493,300 1,469,319 1,469,319 1,322,550 Analysls of grants Grants to Instltutlons 2025 Total funds 2025 Totsl funds 2024 Grants payabla 220,769 220,769 292,083 The Group ha5 made the following matèrial grants to institutlons during the year 2025 Name of Institutlon Achisomoch Aid Co Ltd Hasmonean High School Charitable Tru8t Menorah Foundation Gan Menachem Hendon Ltd Friends of Bels Sorah Schneirer 51.600 23,61KI 15,575 15,345 10,000 116,020 104.749 Other grants to in81ilulions of less than £10,000 220,769 Page 16
D.T.F. LIMITED IA Company Llmlted by Guarant&g1 Notos to the Financlal Statements For the y&ar gndad 30 June 202$ Analys15 of expendlture by aGtivities Grant funding of actlvltlos 2025 Support costs 2025 Total funds 2025 Total funds 2024 Grants payable Auditor8 fees lsee note below) 220,769 220.769 13.860 292.083 13.860 13,860 220,769 13,860 234,629 305.943 10. Audltor's remunpration 2025 2024 Fees payable lo the Company's auditor for th8 audit of the Companls annuol accounts 4,410 4.410 Fees payable to the Compan5 auditor in respect of.. The auditing of accounts of associates of the charity 9,460 9,450 11. Employaos The average monthly number of employees was NIL {2024- NIL}- 11 Trustses. remunoratlon and exponses During the year. no Trustees reC8[v any remuneration or other bgnelils12024- £NILI. During thtr yaar ended 30 ju 2025, no Trustee expenses have been incurr8d12024- £NIL). Page 17
D.T.F. LIMITED IA Company Llmited by Guaranteo) Notes to the Flnanclal Statements For the year ended 30 Juna 2025 13. Flxed asset Investments Investmonts In subsldlary eompanies Company Cost or valuatlon Al 1 July 2024 181,902 AI 30 June 2025 181.902 Not book value AI 30 June 2025 181,902 AI 30 June 2024 181,902 Prlnclpal subsldlarl•s The ragistered address of the subsidiary undertakings is al Sutherland House. 70-78 Wesl H8ndon Broadway London NW9 7BT. All subsidiaries have boen included in consolidation. The followir*9 were subsidiary undertakings of the Company.. Names Company number Principal aetlvlty Class of Holdlng shar•s BritV8n properti Limited Chromegrove Limited Neonhome Properties Limited 965961 1047148 2618179 Property inveslm¢nl Ordinary Prop8rty investment Ordinary Prop&rty investment Ordinary 100• Page 18
D.T.F. LIMITED IA Company LSmlt8d by Guaranteel Notes to the Finan¢lal Statements For the year ended 30 June 2025 14. Investment pyoperty Group Frèèhold investmènt property Valuatlon Al 1 July 2024 25,050,000 At 30 June 2025 25.050,000 Company Freahold invostment property Valuatlon Al 1 Juty 2024 13,945,000 At 30 June 2025 13.945.000 The 2025 valuations wer8 made by the trustees. based where applicable on discussions with valuation professionals and on valualitsn reports on eertain of the group's properties prepared for lending purposes, on an open market value for existing use basis. 15. Debtors Group 2025 Group 2024 Company 2025 Company 2024 Due wlthln one year Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 48.271 53,293 8,107 4.452.704 506,498 5,983 4,367,391 471,471 1,748,383 13,966 618,678 8,938 1,810.620 680,909 4,967,309 4,844,845 Page 19
D.T.F. LIMITED IA Company Llmlted by Guaiantgel Notes to thg Financial Statoments For the y&ar end8d 30 June 2025 16. Credltors: Aniounts falllng due wlthln onè year Group 2025 Group 2024 Company 2025 Company 2024 Bank loans Amounts owed lo group und6rtakings Other laxalion and social security other creditors Aceruals and deferred ineome 735,574 2,184,395 634,914 1,830.202 34097 510 509,666 1,738,139 1,308.646 6.595 9,434 540,950 34,097 1,387 519.015 6,595 27.857 574,228 1,290,073 2,793,075 3,009.349 3,603,764 On8 of the bank loans ID a Subsidiary was refinanced after the year end on a 25-year facility. 17. Cr¢ditors: Amounts falllng due after more than one year Group 2025 Group 2024 Company 2025 Compony 2024 Bank loans 13,213,357 12,846,626 8.029.609 7,914,523 The bank loans are secured by fixèd charges over freehold investment properties of Iho group. The rates pay8ble on these loans are fi'xed until expiry at interest rates between 4Q/o and 6.1tsA. Page 20
D.T.F. LIMITED IA Company Limit8d by Guarantee} Notes to the Flnan¢lal Statements For tho yèar &nded 30 June 2026 18. Statpment of funds Statement of funds - current year Balance at 30 June 2025 Balance at I July 2024 Income Expandlture Unrgstricted funds General Funds 14,26Y,540 1,940,777 {1,703,9481 14,506.369 Statement of funds - prior year Balance at 30 June 2024 Balance al 1 July 2023 Gainsl (Losses) Income Expenditure Unr8$trictÈd funds G8n8ral Funds 16,441,112 1,943,344 11,628,493) 12.486,4231 14.269,540 19. Roconciliatlon of net movemènt In funds to net cash flow from operating activitlts Group 2025 Group 2024 Net incomè for the year las per Slalement of Financial A¢tivitiesl 236,829 314,850 Adjustments for: Interest payable Increase in debtors Increasellde¢reasel in creditors 1.037,034 819,970 (1,129,711) 1142,684} 154,181) 75,959 Net cagh provided by operatlng actlvltlg$ 89,971 1,(E8,095 Page 21
D.T.F. UMITED IA Company Llmttèd by Guarantèe) Note5 to the Flnan¢lal Statèments For the year ended 30 June 2025 20. Analy$is of cash and cash equlvalents Group 2026 Group 2024 Cash in hand 2.149.179 4,178,332 Total Cash and cash equ5valents 2,149,179 4,178.332 21. Analysls of changes In net debt At 1 July 2024 Cash flows At 30 June 2025 Cash 81 bank and in hand Debt due within 1 yeaT Debt due after 1 year 4.178.332 12.029.153) 2,149,179 12,212,251) 1,475.290 736,961} 112,846,626) (366,731} 113,213,357} 110.880.545> 1920,5941 111,801.1391 22. Relat&d party transactlons The Company is enlilled to 90.kn of both the nel rental income and the sales proceeds from a number of r8sid8nlial PTuperties held on twsl on ils behalf by H Tannen Kidlington. In the year under review, an amount of £338.64612024 - £338,506) included in other doblors relate to the50 properties. with income receivabl8 of £13412024- £3221. Al the year end, a Subsidiary within the group was owed £1,241.885 by The Tannen Group Limited. ThSs balance arose from inlercompany funding arrangem8nls arisin9 from the nornial course of property investm8nt and development activitiès across the companies managed by the same office. This balance ha3 8ince been rèpald. 23. Controlling party The ultimate controlling party is the trustees. Page 22