Charity registration number 281452 (England and Wales)
MOLE CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
MOLE CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mrs L P Gross Mr D B Black Mr J Brodie Charity number (England and Wales) 281452 Principal address 2 Okeover Road Salford M7 4JX Independent examiner Haffner Hoff 2nd Floor - Parkgates Bury New Road New Bailey Street Manchester M25 0TL
MOLE CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 11 |
MOLE CHARITABLE TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
Objectives and activities
The objects of the Charity are to make donations and loans to educational institutions and charitable organisations and for the relief of poverty.
Grant making policy
The charity is funded by donations and income from investments and gives out grants in line with the above objects. The application of the funds is by way of grants to either institutions or individuals and is almost always to institutions.
The Trustees receive many grant applications. They primarily support charities, organisations or individuals in the following areas: advancement of the Jewish Faith, advancement of the Jewish education and relief of poverty. In deciding who they support they consider the financial need and track record of the applicant.
There were grants paid of £5,000 to individuals during the year.
Grants made during the year to institutions are as detailed in the accounts.
The trustees consider they have met the public benefit test and outline these achievements below.
The trustees measure the success of achieving the stated aims by the number and value of grants paid out for each object. The grants paid out in the year are detailed in the notes to the accounts and the trustees consider they have met their aims successfully this year.
The trustees consider the shorter-term aims to be similar to the longer term aims and assess the achievement of the charity in the same way.
Achievements and performance
Significant activities and achievements against objectives
The charity has continued to distribute funds to other charities and charitable causes during the year.
During the year the investment held by the charity was valued at £2,473,049 (2024: £2,442,466).
Financial review
The results for the year are set out in the Statement of Financial Activities.
Total income for the year amounted to £364,205 (2024: £481,564), total expenditure was £278,993 (2024: £282,205), and a net gain on investments amounting to £30,583 (2024 :£14,055) resulting in a net surplus of £115,795 (2024 : £213,414) for the year.
As at 31 March 2025 the Charity had £330,745 (2024: £245,533) of free Unrestricted Funds. The increase in funds during the year reflects the trustees’ decision to retain funds to support planned future donations in line with the charity’s objectives.
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MOLE CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Reserves policy
The trustees have reviewed the charity’s reserves policy and consider it prudent to maintain an appropriate level of unrestricted reserves to enable the charity to continue its grant-making activities and to provide flexibility in the timing of future donations.
The trustees aim to hold unrestricted reserves sufficient to cover anticipated donations over the next 12 months, together with a modest contingency to manage fluctuations in income and expenditure.
At the year end, unrestricted reserves amounted to £2,803,794, which the trustees consider to be appropriate in light of the charity’s planned future activities. The trustees intend to apply these reserves towards future donations to educational institutions and charitable organisations and for the relief of poverty.
Major risks
The trustees have identified the principal risks facing the charity as being the appropriate selection of beneficiaries and the management of cash reserves. Controls are in place to review and approve donations and to regularly monitor the charity’s financial position. The trustees believe these procedures mitigate the main risks to which the charity is exposed.
Structure, governance and management
The Charity is constituted by Deed of Trust dated 10 November 1980 and is a registered charity, Number 281452.
Recruitment and appointment of new trustees would be in line with the Trust Deed and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
There is no chief executive officer. All major decisions are taken collectively by the trustees, and all the trustees give of their time freely. The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts. The arrangements for setting the pay of the charity’s employees are the sole domain of the trustees.
There are no policies for the induction or training of new trustees.
The trustees' report was approved by the Board of Trustees.
Mr J Brodie Trustee
29 January 2026
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MOLE CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MOLE CHARITABLE TRUST
I report to the trustees on my examination of the financial statements of Mole Charitable Trust (the charity) for the year ended 31 March 2025.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
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I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
D Schwarz FCCA Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich New Bailey Street Manchester M25 0TL
30 January 2026
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MOLE CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 350,500 | 479,875 |
| Investments | 4 | 13,705 | 1,689 |
| Total income | 364,205 | 481,564 | |
| Expenditure on: | |||
| Charitable activities | 5 | 278,993 | 282,205 |
| Total expenditure | 278,993 | 282,205 | |
| Net gains/(losses) on investments | 10 | 30,583 | 14,055 |
| Net income and movement in funds | 115,795 | 213,414 | |
| Reconciliation of funds: | |||
| Fund balances at 1 April 2024 | 2,687,999 | 2,474,585 | |
| Fund balances at 31 March 2025 | 2,803,794 | 2,687,999 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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MOLE CHARITABLE TRUST
BALANCE SHEET
AS AT 31 MARCH 2025
| Notes Fixed assets Investments 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities The funds of the charity Unrestricted funds 15 |
2025 £ £ 2,473,049 16,050 315,655 331,705 (960) 330,745 2,803,794 2,803,794 2,803,794 |
2024 £ £ 2,442,466 16,050 229,963 246,013 (480) 245,533 2,687,999 2,687,999 2,687,999 |
2024 £ £ 2,442,466 16,050 229,963 246,013 (480) 245,533 2,687,999 2,687,999 2,687,999 |
|---|---|---|---|
| 2,687,999 | |||
| 2,687,999 | |||
| 2,687,999 |
The financial statements were approved by the trustees on 29 January 2026
Mr J Brodie Trustee
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MOLE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
Charity information
Mole Charitable Trust is constituted by a Deed of Trust dated 10 November 1980 and is a charity (No. 281452) registered with the Charities Commission.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
1.4 Income
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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MOLE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
1.6 Fixed asset investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
1.7 Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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MOLE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
| 3 | Income from donations and legacies | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Donations and gifts | 350,500 | 479,875 | |
| 4 | Income from investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Income from unlisted investments | 8,481 | - | |
| Interest receivable | 5,224 | 1,689 | |
| 13,705 | 1,689 | ||
| 5 | Expenditure on charitable activities | ||
| Grant | Grant | ||
| funding | funding | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Direct costs | |||
| Grant funding of activities (see note 6) | 278,513 | 281,784 | |
| Share of support and governance costs (see note ) | |||
| Governance | 480 | 421 | |
| 278,993 | 282,205 | ||
| Analysis by fund | |||
| Unrestricted funds | 278,993 | 282,205 |
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MOLE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
6 Grants payable
| Grants to institutions: Achisomoch Aid Company Ltd Aish Hatorah UK Ltd Bonei Olam Ltd Camp Simcha D&D Charitable Trust Friends of B'ezri Jewish High School for Girls King David School Manchester Charitable Trust Manchester Mesivta Jewish Grammer School Misaskin Manchester North Salford Synagogue Kollel Gaon Yaakov Project S E E D Special Spirits Talmud Torah Chinuch Neorim T T T Tree Life Club Three Pillars Trust The Federation The Machzikei Hadass Communities The Paperweight Trust The Shaarei Torah Trust Just Teen Support Ltd Grants to individuals: Mr & Mrs Roitenbarg 7 Net movement in funds The net movement in funds is stated after charging/(crediting): Fees payable for the independent examination of the charity's financial statements |
2025 £ 10,000 1,000 1,000 1,000 - - - 2,500 15,000 - - 20,000 - 2,500 5,000 - - - 80,000 2,500 11,000 5,000 122,013 - 278,513 - 278,513 2025 £ 480 |
2024 £ 13,500 - - - 10,000 1,800 360 - 30,000 6,750 200 25,000 20,000 - 5,000 500 50,000 1,000 30,000 - - - 84,874 1,800 |
|---|---|---|
| 280,784 1,000 |
||
| 281,784 | ||
| 2024 £ 480 |
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
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MOLE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
9 Employees
The average monthly number of employees during the year was:
| Total There were no employees whose annual remuneration was more than £60,000. |
2025 Number - |
2024 Number - |
|---|---|---|
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
10 Gains and losses on investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| Gains/(losses) arising on: | £ | £ |
| Revaluation of investments | 30,583 | 14,055 |
11 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
12 Fixed asset investments
| Other | |||
|---|---|---|---|
| investments | |||
| £ | |||
| Cost or valuation | |||
| At 1 April 2024 | 2,442,466 | ||
| Valuation changes | 30,583 | ||
| At 31 March 2025 | 2,473,049 | ||
| Carrying amount | |||
| At 31 March 2025 | 2,473,049 | ||
| At 31 March 2024 | 2,442,466 | ||
| 2025 | 2024 | ||
| Other investments comprise: | Notes | £ | £ |
| Investments in associates | 2,473,049 | 2,442,466 |
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MOLE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
13 Debtors
| 13 Debtors |
||
|---|---|---|
| Amounts falling due within one year: Other debtors 14 Creditors: amounts falling due within one year Accruals and deferred income |
2025 £ 16,050 2025 £ 960 |
2024 £ 16,050 |
| 2024 £ 480 |
15 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| General funds Previous year: General funds |
At 1 April 2024 Incoming resources Resources expended Gains and losses At 31 March 2025 £ £ £ £ £ 2,687,999 364,205 (278,993) 30,583 2,803,794 At 1 April 2023 Incoming resources Resources expended Gains and losses At 31 March 2024 £ £ £ £ £ 2,474,585 481,564 (282,205) 14,055 2,687,999 |
|---|---|
16 Related party transactions
During the year the charity received aggregate donations totalling £330,000 (2024: £439,875) from trustees and related parties.
Mrs L Gross, trustee of the Mole Charitable Trust, is also a director and trustee of Manchester Charitable Trust Ltd. During the year, Mole Charitable Trust donated £15,000 (2024: £30,000) to Manchester Charitable Trust Ltd.
Mr D Black, trustee of the Mole Charitable Trust, is also a director and trustee of D & D Charitable Trust. During the year, Mole Charitable Trust donated Nil (2024: £10,000) to D & D Charitable Trust.
Mr D Black, trustee of the Mole Charitable Trust, is also a director and trustee of The Paperweight Trust. During the year, Mole Charitable Trust donated £5,000 (2024: £Nil) to The Paperweight Trust.
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