Charlty number: 280392
THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Trustees, report and financial statements
For the year ended 30 June 2024

THE DAVID TANNEN CHARITABLE TRUST OF 28 PMRCH 1974
Contènts
Page
Reference and admlnistrativè detalls of the Charlty, its Trustees and advisoys
Trustegs. report
Indopgndent audltor's report on the financlal Statements
Con$olldated statgm8nt of financlal a¢tlvltles
Consolldated balance sheet
10
Charlty balancè sheet
Consolldated statement of cash Ilows
11
12
Notes to the flnanclal statements
13-22

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Reference and adminlstratlvè d8talls of the Charlty, Its Trusteès and advlsers
For the year onded 30 June 2024
Truste0$
D Tannen
Ml Tannen
DA Tannen
J Mil￿r
Charfty reglstored
number
280392
Pilnclpal offSc•
Sulherfand House
70-78 We81 Hendon Broadway
London
NW9 7BT
Audltors
Melinek Fine LLP
Chartered Accountants
statutory Auditors
Winston House
349 Regents Parf( Rgad
London
N31DH
Bankers
Barclays Bank PIC
1 Churchill Placo
Canary Wharf
London
E14 5HP
Poge 1

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Trustees. report
For the year ended 30 June 2024
The Trustees present their annual report together with the auditèd financial slalem&nls of The David Tat)nen
Charitable Trust for the ended 30 June 2024.
Oblectives and activitles
• Policies and obloctbves
Tho objects of the charity are lo relieve poverty, distress and suffering in any part of th8 world and to piomole
the Jewish religKJn and education through charitable means.
The trustees conlim that they hava referred lo the guidance contained in Ihe Charity Commission's g&ner81
guidance on public benefit, and in particular lo ils supplementary public benefit guKlanc8 on advancing
education, when reviewing the trusts aims and objectives, in planning fuluTe activities and in selling the grant
making policy for the year.
Achlevements and performance
• Rgvigw of actlv5tles
During the year under rev¢ew, Ihg charity made charitable donations of £434,70012023- £239,700).
The Iru¥lees are pleased to report that they have supported a range of community based instrtulions providing
education, religious and welfare programm8s. They continue to see that local provision of education and welfare
inilialives slr8nglhen8 community infrastructure and results in significant achievements in Ihe advancement of
education, the relief of proverty and distress, and the provision of sooial Support.
• Investment pollcy and pèrfomianc
Potential inve8tments are individually assessed by the Iruslees and entered into if the trustèes belleve that they
will generate funds to allow the charity's objectives lo be mel.
The trustees continue lo assess the charitys investment portfolio and seek new investment opportunities lo
ensure that the charills asset base is maintained and suitable profits are generated.
The Irust8es are satisfied with the Telurn on investments achteved during the year and ar8 confident that the
charity ha8 adequate regeNes to fulfil its charitable obligations.
Flnancial r•vlew
• Reservès pollcy
Any assets retained will be solely foT the purpose of generating income to cover any disllibution policy that the
trustees may formulate in the future.
Th8 charity maintains sufficient cash reserves to..
. fund grants in furtherance of the objects of the charity for the following two years.,
meet demands for liquidily and refinancing of the group's $ubslanlial investment portfolio in diffi'cult Credit
market conditions,. and
• ensure repayments of the charSly's bank loans can be paid a8 they fall due.
Al the year end the charity had free availablg fesetves of £11,895,550.
Page 2

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Trustees, Teport Icontlnuedl
For the year ended 30 June 2024
structure. governance and managomènt
• Constltutlon
The David Tannen Charitable Trust of 28 March 1974 is a registered charity, number 280392. arKI is constituted
under a Trust deed.
The objects of the charity ale lo relieve poverty, distress and suff8ring in any part ol the workj and lo promo18
the Jewish religion Ihrough charitabl$ means.
The aims of the eharily are lo promote Jewish religion, educalign and social welfare by estsblishing, maintaining
and supporting synagogues, schools, s¢holarships and charitable services by providing funds, eilhor directly or
by way of grants.
• Board of Trustees
The Iruslees ol the charity who served during the year, have Continued to serve sinc8 the year end, and who
manage the day lo day running of the Irusl, were..
D Tannen
J M Miller
M l Tann8n
D A Tannen
All trustees are appointed by D Tannen as required. There are no formal policies or procedures for Ihe
appointment, recruitment and induGllon of Iruslees.
• Rlsk management
The Iruslees have considered the major risks lo which the charity is exposod and have reviewed their systems
and procedures lo manage those iisks. The Iruslees not consider that there ar8 any specific risks attached
to the running of the trust that call lor Specif￿ action lo b8 taken.
• Future dèvolopments
The Iruslees will continue to manage the charitys investments in order lo generate profits that will enable the
Iruslees lo respond lo the chaTily beneficiaries, evolving needs.
Page 3

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Twstee$' rèport Icontlnuedl
For tho year gndgd 30 June 2024
Statemènt of Trustees, responsibllltles
The Trustees are responsible for preparing the Trusle6s' report and the financial 8talem8nts in accordance with
applicable law and United Kin9dom Accounting Standards {Uniled Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare fvnancial statements for
eaeh financial which give a true and fair view of the Slatè Df affairs of the Group and the Charity and of their
incoming resources and application of resources, including theii income and expenditure, for that period. In
preparing these financial slalements. the Trustees are required to..
select suitable accounting policies and then apply them consistently..
observè the methods and prIncip￿S of the Chariti89 SORP IFRS 1021.,
make judgments and accounting eslimales that are reasonable and prudent.,
slate whether applicable UK Accounting Standards IFRS 102) hav8 been folowed, subject lo any
material departurÉs disclosed and explained in the financial slalements..
prepare the financial statements on the going concern basis unless il is inappropriate to presume Ihal the
Group will continue in business.
The Trusle8s are responslble for keeping adequate accounting records that are sufficient lo show and explain
the Group and the Charity's Ifansactions and disclose wilh reasonable accuracy al any time the financial
position of the Group and the ChaTily an(i enable them lo ensure that th8 financial slalements comply with the
Charities Act 2011, the Charity IA¢counls and Reports) Re9ulalions 2008 and the provisions of the Trust doed.
They are also responsible for safeguarding the assets of the Group and the Charity and hence lor taking
reasonable steps for the prevention and detection of fiaud and olher irregularities.
Dbclosure of Informatlon to audltor
Each of the per60ns who are Trustees at the lime when this Trustees, report 1$ approved has confirmed that-.
so far a8 that Trus18e is aware, there is no rèlavant audit information ol which the charitable group's
auditor is un8ware, and
that Trustee has taken all Ihe sleps that ought lo have been lak8n as a Trustee in ord¢r lo be aware of
any relevant audit information and lo eslablSsh that the charitable 9roup's auditor is aw8re of that
information.
Audltor
The audilor, Melinek Fine LLP, has indicated his willingness lo continue in office. The designaled Trugtees will
propose a motion reappointing the auditor al a meeting of the Trustees.
Approved by order of the m&mbers of thg board of Trustees and signad on their behalf by..
J Mlller
Trustee
Page 4

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Independent audltor's report to the Membgrs of The Davld Tannon Charltable Trust of 28 March 1974
Oplnlon
We have audited the financial statements of The David Tannen Charitable Trust of 28 March 1974 Ilhe 'parenl
charily'l and ils subsidiaries (the 'groiJp'l for the year ended 30 June 2024 which comprise the Consolidated
statement ol financial aclivilies. the Consolidated balance sheet, the Charily balance shaol, the Consolidated
slalemenl of cash flows and the related notes, including a summary of signrficanl accounting policies. The
financial reporting framework that has been applied in their prepaialion is applicable law and Unitod Kingdom
Accounting Standards. including Financial Reporting Standard 102 'The Financial Reporting Standard
appli¢ablè in the UK and Republic of ITeland' Iuniled Kingdom Generalty Accepted Accounting Praclicel.
The financial statements have been prepared in accordance with Accounting and Reporting by Charities
preparing thgir accounts in a¢coidance wrth the Financial Reporting Standards applicable in the UK and
Republic of Ireland IFRS 1021 in prelèrence lo the Accounting and Reporting by Charilie5.' Slalemenl of
Recommended Practice issueLI on 1 April 2005 which is r8ferred to in the exlant regulalitrns bul has been
withdrawn.
This has been done in order for the accounts to provide a Iruo and fair view in accordance with the Generally
Accepted Accounting Piactice 8ffeclive for reportin9 periods beginning cn or after 1 January 2015.
In our opinion the financial slalemenls..
give a tru8 and fair view of the slate ol the Group's and of the parent charity's affairs as a130 June 2024
and of the Group's incoming resources and application of resources, including ils incom8 and
expenditur8 for the year then ended..
have been Pfoperly prepared in accordance with Uniied Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance wlh the requirements of the Charities Act 2011.
Basls for oplnlon
We conducted our audit in accordance with Intem81ional Standards on Auditing IUKI {ISAs {UKII and applicab
law. Our re5ponsibililies under those standaid8 are further described in the Audilorfs responsibilities for th8 8udil
of th? financial 8lalemenls section ol our report. We are independent of the Group in accordance with the
ethical requirements that are relevant to our audit of the financial slalemenls in the United Kingdom. including
the Fin8ncial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibililles in
accordance with these requirements. We believe that the audit evklence we have obtained is sufficient and
appropriate to provide a ba$is for our opinion.
Conclusions relatlng to golng concem
In auditing the financial slatemenls, we have Gon¢luded that the Trustees, use of the goin9 wncern basis of
accDuntirJg in the preparation of the financial slalemenls is appropriate.
Based on the work we have performèd. we hav8 not identified any material uncertalnties relating lo events or
conditions that. individually or collectively. may ca81 signiftcanl doubl on the Group's or the parent charity'$ ability
to continue as a going concern for a period ol at least twelve months from wh&n the financial statements are
gulhorised for issue.
Our responsibilitios and the responsibilities of the Trustees wllh respect to going concern are de8cribeil in the
relovant sections of thi5 report.
Page S

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Independent audltorfs report to the Members of The Davld Tannen Charltable Trust of 28 March 1974
Icontlnuedl
Other ihlormatlon
The other information comprises the infomialion included in th8 Annual report other than the financial
slalements and our Audilorfs repE*rt Ihereon. The Trustees are responsible for the other information conlainod
within the Annual rgpc)rt. Our opinion on the financial slalemenls does not cover the other information and,
except lo the extent othe￿198 explicitly slated in our report, we do not express any form of assurance
conclusion Ihereon. Our responsibility Is lo read the other information and, in doing so, consider whether the
other infomialion is materially incon818lent with tho financial statements or our knowledge obtained in the wurse
of the audit, or otherwise appears to ba materially migslated. If we identify Such material inconsistencies or
apparent material misslalem8nls, we are required lo determine whether this gives rise lo a material
misstatement in the financial slalemenls themselves. If, based on the work we have performed. we concludè
that there is a material misstalemenl of this other information, wo are required to report that fa¢t.
We have nothing lo r8POrt in this Tegard.
Matters on whlch we aro raqulred lo veport by exctption
We have nothing lo report in respect of the following matters where the Charities IAcc¢unls and Reports)
Regulations 2008 requires us to report lo you if, in our opinion..
the infomalion given in the Trustees. report is inconsistent in any molerial respe¢l with the financial
slalemenls., or
the parent Charity has not kept sufficient accounting records- or
the parent Charify financial slalemonts are not in agreement with the a￿oUntIng records and Tetuins,. or
Wg have not T￿1Ve￿ all the informalion and explanations we require for our audit.
Responsibilitles of Irusto9$
As explained more fully in the TTUSt8es' responsibilities statement. the Trustees are responsible for the
preparation of the financial statements whith give a true and fair view, and for such internal control as the
Trustees determine is necessary to enable th& preparalic>n of financial slalemenls that ar8 fr8e from material
migslatemenl, whelhar due lo fraud OT error.
In prèparfng the financial statements, the Trustees arè responsible for assessing the Group's and the parent
charills ability lo continue 8$ a 90ing concern, disclosing, as applicable. mallers related lo going concern and
using tho going concern basis of accounting unless the Trustees either intend lo liquidate the Group OT the
parent charity or lo cease operations, or hav8 no realistic alternative bul to do so.
Page 8

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Indopendent audltofs report to tho Members of The Davld Tannèn Charltablè Trust of 28 March 1974
Icontlnued}
Auditorfs responslbllitles for the audlt of the flnanclal statements
We have been appointed 8$ auditor und8r section 151 of the Charities Act 2011 and report in accordance with
the Act and relevant f8gulalions made or having effect Ihereut)dèr.
Our objective5 are lo obtain reasonable 888uiance about whether the financial stalemenls as a whole are free
from material misslalemenl, whether due lo fraud or error. and to Issue an Auditor's report that includes our
opinion. Reasonable assuran¢e is a high level ol assurance. bul is not a guarantee that an audit conducted in
accordance with ISAS IUKI W￿11 always d8lecl a malerial misslalement when il exists. Misglalements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expeded to influence the èconomic decisions of users taken on thè bas15 of these financial stalemenls.
Irregularities, including fraud, are instances of non-complian¢8 with laws and regulations. We design
procedures in line with our r¢sponsibilbties, outlined abovo, lo dolecl material misstalemenls in respect of
irregularities, including fraud. The ex18nl to which our procedures are Capable of delecling irregulaTilies,
including fraud is detailed below-.
We idenlffjied areas of laws and regulations Ihol could reasonably be expected lo have a material effecl on the
financial slalemenls from our sector expenen¢e through discussion with the directors and other management
las required by auditing standards).
We had regard lo laws and regulations in areas that directly affect the fi'nancial slalèmenls including financial
reporting lincluding related company legislalionl and laxalion le9islalion. We considered that exlenl of
compliance with those laws anLI regulalions as part of oui procedures On the related financial slalemenl items.
With th8 exception of any known or possible non-compliance, and as requirad by auditing standards, our work
in respect of these was limited lo enquiry of th8 directors.
We Communicated identified laws and regulations throughout our team and remained alert lo any indications
ol non-compliance throughout the audit.
Vve addressed the risk of fraud through managamenl override of conlrols, by lesting the 8pproprialeness of
journal entries and other adjuslmenls. assessing whelher the judgements made in making accounting estimates
ar8 indicative of a potential bia5'. and evaluating the business rationale of any significant transactions that ar8
unusual or outside the normal course of business.
Our audit procedures were designed lo respond lo risks of material misstatement in the financial 81alemenls.
recognising that the risk of not delecling a material misslatemenl due lo fraud is higher than the risk of not
(iele¢ting one resulting from error, as fraud may invO￿e deliberate ¢on¢ealmenl by, foi example, forgery,
misrepresenlation8 or IhTough collusion. There are inherent limitations in th8 audit pro¢8dures perfom)ed and
the further iemoved non-compliance with laws and regulations is from the events an(1 transactions reflected irb
the financial statements, the less likely we are to become aware of it.
A lurther (Jescriplion of our responsibilities for the audit ol the financial statements is located ¢)n the Financial
Reporting Council's w&bsil6 al.. www.frc.o
.ukJaudilorsres
Dnsibililies. This description forms part of our
Audilorfs report.
Page 7

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Independent audltor's report to tho Members of Th8 Davld Tannen Charitable Trust of 28 March 1974
{contlnuedl
Use of our rèport
This report is made solely Iri the eharily's trustees, as a body, in a¢¢ordance with Part 4 of the Ch8rilies
(Accounts and Rgportsl Regulations 2008. Our audit work has been undartaken so that we might slate lo the
charily's trustees those malleT8 we are required lo slate lo them in an Auditor's report and for no other purpose.
To the full8sl extent pormilled by law, we do not accept or assume responsibility lo anyone other than the
charity and ils Iruslees. as a body, for our audit work, for this report, or for the opinions w8 have formed.
Mellnek Flnfy LLP
Chartered Accountants
stalulory Auditor,.
Winston House
349 Regent$ Park Road
London
N3 1DH
Date:17/.
Melinek Fine LLP are eligible lo act as auditors in terms of section 1212 of the Companies Act 2006.
Page 8

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Consolldatad Statoment of financlal actlvltlos
For the y&ar ended 30 June 2024
Endowmgnt Unrestiicted
funds
funds
2024
2024
Total
fund$
2024
Total
funds
2023
Not•
Income and endowmènts from:
Inveslmenls
2,999N75
2,999,476
2,745,405
Total income and endowmgnts
2,999.475
2.999,475
2,745,405
Expendlture on:
Raising funds
Charitable activftigs
2,404,715
441,810
2.404.715
441.810
1.823,329
246,810
Total expenditure
2.846,525
2,846,525
2.070,139
Net income before net galns on
investments
152,960
$56AOD
152,950
566,400
675,266
8,743,301
Net gains on Inveslmenls
Net Incomo In the year and
movoment Sn funds
709,360
709.350
9,418,567
Reconclllatlon of funds:
Total funds brought forwar(4
Nel movemènt In funds
44,462
33.911,748
709,350
33,956,210
709.350
24,537.643
9,418.567
Total funds carried forward
44.462
34,621.098
34,665.560
33.956,210
The Consolidated statement of financial a¢tNities includes all gains and losses recogni6￿ in the year.
The notes on pages 1310 22 form part of these finan¢ial stslements.
Pagè 9

THE DAVID TANNEN CHARITA8LE TRUST OF 28 MARCH 1974
Consolldated balancè sheet
As at 30 Junè 2024
2024
2023
Note
Flxed assets
Investments
Investment property
11
12
1.200.010
44,400,000
1,200.010
45,184,000
45,600,010
46,384.010
Current assets
Debtors
Cash at bank and in hand
13
738,283
12.056.055
585.311
11.459,714
12,794,338
12,045,055
Credilor8-. amounts falling due within one
year
14
1898,7881
(11,822,855)
Net current assets
11.895.650
222.200
Total assets less curr8nt Ilabilities
57.495.660
46,606,210
Creditors.. amoun15 falling due after more
than one year
15
122.830.0001
112,650,000)
Total net assets
34,665,560
33,956,210
Charity funds
Endowment funds
Unrestricted funds
16
44,462
34.621,098
44,462
33,911,748
16
Total funds
34,666.660
33,956,210
The financial 81alemenls We￿ approved and authorised for issue by the Trustees and signed on Ihwr behalf by.
MJ
J Mlller
Trustee
Dale. ?g1(J41302S
The notes on pages 13 10 22 form part of these linancial slalemenls.
Page 10

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Charlty Statement of flnanclal po$itlon
As at 30 June 2024
2024
2023
Note
Flxed assats
Inveslm&nts
Investment property
11
12
1.840.737
26,600.000
1,840,737
27.384,000
28.440,737
29,224.737
Current ass&t$
Debtors
Cash al bank and in hanrj
13
8.564.751
11,018.050
8,079,968
10,484,100
19,582.801
18,564.068
Creditors.. amounts falliny due within one
year
14
1707,977}
{1.182,594}
Net current assets
18.874.824
17,381.474
Total assots less current liabllltlos
47,31S,661
46.606,211
Creditors. amounts falling due after more
than ono year
15
112,660,000)
112.650,0001
Total net assets
34.665.561
33,958,211
Charity funds
Endowment funds
Unrestricted fund
16
16
44,462
34,621.099
44.462
33,911,749
Total funds
34,686,561
33,956,211
The financial slalements were approved and aulhorised for issue by the Trustees and signed on their behall by..
J Miller
Trustee
Date. l¥b4l3o¥f
The notes on pages 13 10 22 form part of these financial Slalemenls.
Page 11

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Consolldated statement of cash flows
For the yoar ended 30 June 2024
2024
2023
Note
Cash flows from operatlng actlvltles
N@1 cash used in operating a¢livilies
17
1,210,930
2,127,234
Proceeds from thè sale of investment property
790.4rA>
6,895,301
Not cash provld•d by Investlng aetlvltles
790,400
6,895,301
Cash flows from financlng activltles
Cash inflows from new borrowing
Repayments of borrowing
Interest payable
10.180.000
{10,235.0001
1170,000}
11,350,019) 11,122,883)
Net cash used In flnanclng activltles
(1,405.0191 11,292,883}
Change In cash and cash equlval•nts In tho year
Cash and cash equivalents al the beginning of the year
596,311
11.459,744
7.729,652
3.730.092
Cash and cash equivalents at the ènd ol thè year
18
12,D56.056 11,459.744
The notes on pages 13 10 22 form part of these financial 51atemenl$
Page 12

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Noto5 to tho financiol statements
For thg year ond8d 30 June 2024
Gengral Information
The David Tannen Charitable Trust 16 a charilable trust r&gisl8red in England and Wales under Ihe
Chaiilies Aet. The address of Ihg r¢gislered offiGe is given on thè Informalttin page.
Accounting pollclgs
2.1 Basis of pr?paratlon ol financlal statements
Tho financial slalements have been prepared in accordance with the Charities SORP IFRS 102)
Accounting and Reporting by Charilres., Slalement of Recommended Pracli¢e applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Charllie8 Act 2011.
The fi'nancial statements have been prepared to give a 'lrue and fai¢ view ond have departed from
the Charities IAc¢ounls and Reports) Regulations 2008 only lo th8 &xlenl required lo provide a 'lrue
and fair, view. This departure has involved foll¢)wing the Charities SORP {FRS 1021 published in
October 2019 rather than the Accounting and Reporting by Charities.. Slalemenl of Recommended
Practice effeclNe from 1 April 2005 which has sinc8 b88n withdrawn.
The David Tannen Charitable Trust of 28 March 1974 meets the definition of a public benefit entity
under FRS 102. Assets and liabilities are initially recogriised al historical cost or transaction value
unless otherwise staled in the relevant accountin9 policy.
The Con801idaled slalemonl of financial activities {SOFA} and Con801idaled balanc6 sheel
on$olidale the financial slalemenls of the Charity and its subsidiary undertaking. The results of the
subsi(Jiary are consolidated on a lin6 by line basis.
2.2 Golng eoncem
Th8re are no material unc8rtainlies relating to going concern.
2.3 Income
AH income is recoynised once the Charity has entillemenl lo the income, il 1$ probable that th8
income will be recewed and the 8mounl of income receivable can be measured reliably.
Income lax rewverable in relation lo investment income is recognised al the lime the investmanl
income ts receivable.
Page13

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Notes to the financlal statements
For the year ended 30 June 2024
A¢countlng policies l¢ontlnuedl
2.4 ExpendSture
Exp9ndilute is recognised once there is a 14al or conslruclive obligation to transfer economic
bgnefil to a third party, it is probable that a transfer of economlc benefits will be required in
selllement and the amount of the obligation can be measured ￿liablY. Expenditure is classitied by
aclivily. The costs of each activity are made up of the total of direct costs and shared costs,
including support costs involved in undertaking each aclivily. Direct costs atlribulable lo a single
activity are allocated directly to that activity. Shared costs which contribute to more than one activity
and support costs which are not allributable to a single activity are apportioned bebNeen those
activities on a basis consistent with the use of resources. Central staff costs are allocated on the
basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on Taising funds includes all expenditure incurred by the Group to raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charilable trading,
Expenditure on charitable activities is incurred on direcuy undertaking the activities which further the
Group's objectives, as well as any 28socialed support costs.
Grants payable are charged in the year when the offer is made except in those cases where the
offer is conditional, such grants being recognised as expenditure when the conditions attaching are
fulfilled. Grants ollered subject to conditions which have not been mel at the year end are noted as a
commitment, bul not awrued as expendiluie.
All expendllure is inclusive of irrecoverable VAT.
2.5 Interest recelvable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Group., this is normally upon notification of the interest paid or payable by the
institution with whom the funds are deposited.
2,6 Taxation
The charity is exempl from corporation lax on ils charitable activities.
2.7 Basls of consolidatlon
The financial statements consolidate the accounts of The David Tannon Charitable Trust of 28
Mar¢h 1974 and all of its subsidiary undertakings I'subsidiaries'l.
The ￿8￿lIS of subsidiaries acquired during the year are included from the effective date of
acquisition.
The income and expenditure account for the year dealt with in the accounts of the charity was a
surplus of £709.350 (2023 £9.418,5681.
2.8 Investments
Fixed asset investments are a form of financial instrument and are initially recognised al their
transaction cost and subsequently measured at fair value al the Balance sheet dalè, unless the
value cannot be measured reliably in which case it is measured al cost less impairment. Investment
gains and losses, whether reali5ed or unrealised, are combined and presented as 'Gainsl{Losses)
on inveslments, in the Consolidated statement of financial activities.
Investments in subsidiarios are valued at cost less provision for impairment.
Page 14

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Not95 to the flnancial $tat•mgnts
For the year ended 30 June 2024
Accountlng pollci8s Icontinuedl
2.9 Investment propfrrty
Investment property is carrigd al fair value determin8d annually by the trusleos and derivèd from
external valuations, the current market rents antl it)veslmenl property yields for comparable real
eslale, adjusted if n8cessary for any difference in the nature, location or ¢ondilk)n of the sp8cific
a$s81. Changes in fair value are recognised in the SOFA.
2.10 FSnanclal Instruments
The Group only has financial assets and financial liabllities ol a kind that qualify as basic financial
inslrumenls. Basic financial instruments are initially recognised al transadion value and
subs8quenlly measured at their selllement value with the exeeplion of bank loans which are
subgequenlly measured al amortised ¢ost using the effectivè inlorest method.
2.11 Fund accountlng
General funds are unreslricled funds which are availabl@ for use al the discretion of the Tfustees in
fLÈrtherance of the g&neral obje¢live$ of the Group and which have not been designated for other
purposes.
Investment in¢ome, gains and losses are allocated lo the appropriate fund.
Judg&mgnts In applying accounting pollcle$ and koy sources of estlmatlon uncertainty
In prèparing Ih&s8 financial statements the directors have madell￿geMentS lo determine th8 fair value of
the companls investment property. Factors taken into consideration include the current market rents and
investment property yields for comparable r8al estate, adjusted il necessary for any difference in the
I￿lure, location OT condition of the sp&cific asset.
Investment Income
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
R&nl from investment properties
Inler8St
2,584,451
415,024
2.S84,451
415,024
2,741.525
3,880
2.999.475
2,999,475
2,745,405
Page 15

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Notès to the flnancial statements
For the year ended 30 June 2024
Invèstment managemènt costs
Unrestrlctgd
funds
2024
Total
funds
2024
Total
funds
2023
Bank loan inlgresl
Propety expenses
1.350,019
1,054,696
1.350,019
1.054.696
1,122,883
700,446
2,404,715
2,404,715
1,823.329
Analysls of grants
Grants to
Inst5tutions
2024
Total
funds
2024
Total
funds
2023
Grants payable
434,700
434.700
239,700
The Group has made the following material grants lo instilutlons during the year..
2024
Nam• of Institutlon
Hendon Adalh Yisroel Congregation
Hasmon6an High School Charitable Trust
Chana Charlly Ltd
British Friend8 of United H31zolah18ra61
WST Charity Ltd
L¢kel UK
Hatzola Northwest Trust
Hasmonean Primary Schor)I
Community COn￿[n London
Chevraz Mo'oz Ladol
50.000
50.000
30,ODO
30,000
25,000
25,000
20,000
15,000
15,000
Is.000
276,000
159,700
other grants lo inslilulion$- less than £13,000
434.700
Page 16

THE DAVID TANNEN CHARITABLE TRUST OF 28 MRCH 1974
Notes to the financial statements
For the yettr ended 30 June 2024
Analysis of expèndlture by a¢tlvitieg
Grant
fundlng of
actlvltles
2024
Support
o$t$
2024
Total
funds
2024
Total
funds
2023
Grants payable
Audilovs remuneration
434.700
434.700
7,110
239,700
7,110
7,110
Total 2024
434.700
7,110
441.B10
246,810
Audltor's remunoratlon
2024
2023
Fees payable lo the Charitys auditor for the oudil of the Charlly's annual
accounts
3,960
3,960
Fees payable lo the Charills audf(or in iespect ol..
The auditing of awunls of associates of the Charity
3,160
3,150
Trustees. remuneratlon and expen5•$
During the year. no Trustees received any Temuneralion or other benefils12023- £NILI.
During the year ended 30 June 2024, no Trustee expenses have been incurred12023 - tNILI.
10. Employees
The average monthly number of employees was NIL12023- NIL).
Page 17

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Not9$ to the financial statèments
For the year ended 30 June 2024
11. Flxed asset Investments
Unlisted
Investments
Group
Cost or valuatlon
At 1 July 2023
1,200,010
AI 30 June 2024
1,200,010
Net book valuè
AI 30 June 2024
1.200.010
AI 30 June 2023
1,200.010
Investments
In
Subsidiary
Unllsttrd
companies invostmenty
Total
Charity
Cost or valuation
At 1 July 2023
640,727
1,200.010
1.840,737
At 30 June 2024
640.727
1,200,010
1,840,737
Nèt book value
At 30 June 2024
640,727
1,200,010
1.840.737
At 30 June 2023
640,727
1.200,010
1,840,737
Prlnclpal $ub$idiaries
The following was a subsidiary undertaking of th8 ChaTIty'.
Name
Compally
nurnber
Prlnclpal actlvlty
Class of Holdlng
shares
Oxgrange Ltd
09855971
Property investment Ordinary
100%
Included In
consolidation
Pagè 18

THE DAVID TANNEN CHARITA8LE TRUST OF 28 MARCH 1974
Notes to the flnanclal statements
For the year ended 30 June 2024
11. Flxed asset Snvestments Icohtlnuedl
The financial results of the subsidiary for the year were..
Nam•
Income Expendlture
N&t assets
OxgT8ng8 Ltd
1.108.538
1.108.638
640,627
Unlisted investments of £1,200,010 compTise 1,023 ordinary shares and 1.028 'A' shares of £1 each.
which comprise approximately 229/• of the share capital in The Tannen Group Limited. a parent company
of a property investment group.
Whilst the investment in The Tannen Group Llmiled could conslilule ti being an Associate, the trustees
are of the opinion that The David Tannen Charitable Trust of 28 March 1974 does not exer¢ise signifi¢ant
influence over ils operating and financial policy decisions, hence the holding is Irealed strictly as an
inveslmftnl.
12. Inv95tm9nt property
Group
Freehold
In¥8stmant
prop&rty
Valuatlon
At 1 July 2023
Disposals
45,184,000
17B4.0001
At 30 June 2024
44,400,000
Charlty
Freehold
Investment
propeity
Valuatlon
At 1 July 2023
Disposals
27.384,000
1784.0001
At 30 June 2024
26,600,000
Tho 2024 valuations were made by th8 Iru5tees as al 30 June 2024 on an open market valu8 for existing
use basis.
Page 19

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Notes to the financlal statements
For the year ended 30 June 2024
13. D9btors
Group
2024
Group
2023
Charity
2024
Charity
2023
Due withln one year
Trade debtors
Amounts owed by group undertaking8
Other debtors
Prepayments and accrued income
78,255
153,047
336.541
52.194
43,529
78.255
7,996,946
489,551
153,047
7,843,948
52,194
30,779
489,652
170,476
738,283
585,311
8,564.751
8,079,968
14. Crédltors: Amounls falllng due within one year
Group
2024
Group
2023
Charity
2024
Charity
2023
Bank loans
Trade creditors
Amounts owed lo group undertakings
Other laxalion and social security
Other creditors
Accruals and deferred income
10,235,000
17,535
336,540
101,776
88,696
1,043,308
35,087
35,067
17,535
101,735
69,136
642,850
151.73S
51.476
469,699
101,776
87,747
975.536
898,788 11,822,855
707.977
1,182,594
16. Credltors: Amounts falling du8 after more than one year
Group
2024
Group
2023
Charlty
2024
Charity
2023
Bank loan8
22,830,000 12,650,000 12,650,000 12,650,000
The bank loans are secured on the groups's frèehold investment propertiès and by a floating charge over
the assets ol the charity. The interest rate on the loans are between 5.5DA and 6.7OA per annkjm until
expiry.
Page 20

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Ntstés to thè flnancial ¥tatement$
For tho ygar ended 30 June 2024
16. Statoment of funds
ststement of funds- Current year
Balance at
30 Jun6
2024
Balance at I
July 2023
Galnsl
ILos$o$1
Income Expendbturn
Unrestrictèd funds
General Funds
33.911,748
2.999.476 12,846,6251
556,400 34,621,098
Endowment funds
Endowment Funds- all funds
44,462
44,462
Total of funds
33.956,210
2.999,475 12,846.025)
556,400 34,665,560
17. ReconcIlla￿On of net movement In funds to net cash flow from oporatlng activitie
Group
2024
Group
2023
Nel income for the period la5 P8r Statèment of Financial Activib'es}
709.350
9.418.567
Adjustments for:
Decrea$ellin¢rea$el in debtors
Increaselldecreaso} in crgdilofs
Profil on sale of investment property
Revaluation of investment property
Interest payable
1162.9711
5,072
1689.0681
324.013
{6,4001 {3.773.3011
{4,970.0001
1,122.883
1,350,019
Net cash provlded by operatlng actlvltlgs
1.210.930
2,127.234
18. Analysi5 of cash and cash equivalents
Group
2024
Group
2023
Cash in hand
12,056.056 11,459,744
Totsl ¢a6h and cash 8quivalonts
12.OE6.065 11.459,744
Page 21

THE DAVID TANNEN CHARITABLE TRUST OF 28 MARCH 1974
Notes to the financlal Statements
For thg year ended 30 June 2024
19. Analysis of ¢hangos In ngt debt
othor non-
cash At 30 Juno
changes
2024
At 1 July
2023 Cash flows
Cash al bank and in hand
Debt due within 1 year
Debt due after 1 year
11,459.744
110,323.6961
112,650.0001
596,311
12.056,065
74,560 10.180.000
169,136}
(10,180,000) 122,830,000)
{11,S13.952)
670,871
110.843,0811
20. Operating lease commltmonts
The charity leases out the investment pr¢perties under non-cancellable operating leases for the following
future minimum lease receivables. Thera ar& no conlingenl rents.
Group
2024
Group
2023
Charlty
2024
Charity
2023
Amounts receivable:
Mol later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years
1.348,119
3,835,663
586,685
1,324,626
4,263,842
1,640,809
1,348,119
3,835,663
586,685
1,324,628
4,263,842
1,840,809
5,770.467
7,229.277
5,770,467
7,229,277
Some of the group's investment propertles are rasidential and are leased under short temi rolling
contracts. There ale no future minimum lea￿ Toceivables lo dlsclose In respect of these leases.
21. Endowment funds
Under the ¥etllemenl d?ted 28 Ma￿h 1974, an amount of £44,462 is to be retained unless provision is
granted by th8 settlor lo do othe￿iSe.
22. Rèlatod party transactions
The company is entitled lo 10D/t) of both th& net rental income and the sales proceeds from a number of
residential properties held on trust on ils behalf by H Tann&n - KKllinglon. In the year undgr review, an
amount of £43.818 12023 - £43,782) included in other deblors relate lo these prop@rt18s, with income
re¢eivable of £3612023- £931.
Controlllng party
The conlrelling party is the trustèes.
Page 22