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2025-06-30-accounts

Charity registration number 285475 (England and Wales)

THE RUZIN SADAGORA TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

THE RUZIN SADAGORA TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Rabbi A Friedman
Mr J Feldman
Mrs S Friedman
Charity registration England and Wales 285475
Principal address 269 Golders Green Road
London
NW11 9JJ
Auditor Harold Everett Wreford LLP
Hallswelle House
1 Hallswelle Road
London
NW11 0DH

THE RUZIN SADAGORA TRUST

CONTENTS

Page
Trustees' report 1 - 2
Independent auditor's report 3 - 6
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Notes to the financial statements 10 - 17

THE RUZIN SADAGORA TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2025

The trustees present their annual report and financial statements for the year ended 30 June 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, 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)".

Objectives and activities

The objectives of the charity are to pay and apply and appropriate the whole of the Trust Fund to those purposes both in the United Kingdom and abroad recognised as charitable by English law.

In furtherance of its objectives, the charitable trust continued to: a) Fund the cost, upkeep and activities of the Ruzin Sadagora Synagogue in London.

b) Fund and support other associated and affiliated Sadagora Institutions and other religious causes and charities.

The trustees consider that the charitable expenditure during the year under review was wholly in accordance with the objectives of the charity.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The trustees regard the charity as having had another successful year, and they consider the charity to be well placed to fulfil its objects during the coming year.

The charity has funded the redevelopment of the Ruzin Sadagora Synagogue and the Trustees are satisfied with the construction progress. The transition into the updated facilities has been completed successfully.

Financial review

During the year, the charity received £670,433 (2024: 666,673) in donations and grants, and paid out £620,922 (£902,713) towards the upkeep and activities of the Ruzin Sadagora Synagogue in London and for other charitable causes.

Structure, governance and management

The charity is governed by a trust deed dated 18 June 1982.

The trustees who served during the year and up to the date of signature of the financial statements were: Rabbi A Friedman

Mr J Feldman Mrs S Friedman

Statement of trustees' responsibilities

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

THE RUZIN SADAGORA TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' report was approved by the Board of Trustees.

Mrs S Friedman Trustee

30 April 2026

THE RUZIN SADAGORA TRUST

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE RUZIN SADAGORA TRUST

Opinion

We have audited the financial statements of The Ruzin Sadagora Trust (the ‘charity’) for the year ended 30 June 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

THE RUZIN SADAGORA TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE RUZIN SADAGORA TRUST

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's 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 (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud, and noncompliance with laws and regulations, we considered the following:

THE RUZIN SADAGORA TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE RUZIN SADAGORA TRUST

We also obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Charities Act, Charities SORP and FRS 102.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charities' ability to operate or avoid a material penalty.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulations. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, omission or misrepresentation.

As a result of these procedures, we considered the particular areas that were susceptible to misstatement due to irregularities, including fraud were in respect of income recognition and classification, unrecorded grant commitments, validity of expenditures, transactions with related parties and non-compliance with Charity Commission guidelines. Our procedures to respond to risks identified included the following:

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

THE RUZIN SADAGORA TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE RUZIN SADAGORA TRUST

D J Scott FCA (Senior Statutory Auditor)

For and on behalf of Harold Everett Wreford LLP, Statutory Auditor Chartered Accountants Hallswelle House 1 Hallswelle Road London NW11 0DH 30 April 2026

Harold Everett Wreford LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

THE RUZIN SADAGORA TRUST

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 30 JUNE 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Donations and legacies 3 670,433 666,673
Total income 670,433 666,673
Expenditure on:
Charitable activities 4 528,902 766,959
Other expenditure 10 92,020 135,754
Total expenditure 620,922 902,713
Net income/(expenditure) and movement in funds 49,511 (236,040)
Reconciliation of funds:
Fund balances at 1 July 2024 2,690,333 2,926,373
Fund balances at 30 June 2025 2,739,844 2,690,333

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE RUZIN SADAGORA TRUST

BALANCE SHEET

AS AT 30 JUNE 2025

2025
Notes
£
£
Fixed assets
Tangible assets
12
5,319,651
Current assets
Debtors
13
924
Cash at bank and in hand
51,178
52,102
Creditors: amounts falling due within
one year
15
(1,210,048)
Net current liabilities
(1,157,946)
Total assets less current liabilities
4,161,705
Creditors: amounts falling due after
more than one year
16
(1,421,861)
Net assets
2,739,844
The funds of the charity
Unrestricted funds
17
2,739,844
2,739,844		 2024
£
£
4,326,551
914
26,133
27,047
(668,089)
(641,042)
3,685,509
(995,176)
2,690,333
2,690,333
2,690,333

The financial statements were approved by the trustees on 30 April 2026

Mrs S Friedman Trustee

THE RUZIN SADAGORA TRUST

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2025

2025 2024
Notes £ £ £ £
Cash flows from operating activities
Cash generated from operations 19 691,164 1,047,801
Investing activities
Purchase of tangible fixed assets (1,132,008) (1,120,119)
Net cash used in investing activities (1,132,008) (1,120,119)
Financing activities
Additional bank loans 465,889
Net cash generated from financing activities 465,889 -
Net increase/(decrease) in cash and cash
equivalents 25,045 (72,318)
Cash and cash equivalents at beginning of year 26,133 98,451
Cash and cash equivalents at end of year 51,178 26,133

THE RUZIN SADAGORA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

Charity information

The Ruzin Sadagora Trust is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 269 Golders Green Road, London, NW11 9JJ.

1.1 Basis of preparation

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 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 under the historical cost convention. The principal accounting policies adopted are set out below.

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.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

THE RUZIN SADAGORA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between 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 are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 2% straight line Fixtures and fittings 10% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

THE RUZIN SADAGORA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

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.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 664,807 666,673
Grants 5,626 -
670,433 666,673

THE RUZIN SADAGORA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

4 Expenditure on charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Direct costs
Depreciation and impairment 138,908 103,591
Charitable activities 231,113 483,349
370,021 586,940
Grant funding of activities (see note 5) 154,081 180,019
Share of support and governance costs (see note 6)
Governance 4,800 -
528,902 766,959
Analysis by fund
Unrestricted funds - general 528,902 766,959
5 Grants payable
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Grants to institutions:
Other 154,081 180,019
-
6 Support costs allocated to activities
2025 2024
£ £
Governance costs 4,800 -
Analysed between:
Unrestricted funds 4,800 -
7 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements 4,800 -
Depreciation of owned tangible fixed assets 138,908 103,381

THE RUZIN SADAGORA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

10 Other expenditure

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Financing costs 92,020 135,754

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Tangible fixed assets

Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 July 2024
4,778,658
78,081
Additions
927,175
204,832
At 30 June 2025
5,705,833
282,913
Depreciation and impairment
At 1 July 2024
522,379
7,808
Depreciation charged in the year
110,617
28,291
At 30 June 2025
632,996
36,099
Carrying amount
At 30 June 2025
5,072,837
246,814
At 30 June 2024
4,256,278
70,273		 Total
£
4,856,739
1,132,007
5,988,746
530,187
138,908
669,095
5,319,651
4,326,551

THE RUZIN SADAGORA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

12 Tangible fixed assets

(Continued)

Freehold land and buildings comprises of freehold property which is stated at cost and is used for the charity's purposes.

The carrying value of land included in land and buildings comprises: land cost of £175,000 and buildings costs of £5,530,832. Depreciation has been charged on the building costs.

13
Debtors
Amounts falling due within one year:
Prepayments and accrued income
14
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year
The long-term loans are secured by fixed charges over the assets of the charity.
15
Creditors: amounts falling due within one year
Notes
Bank loans
14
Other creditors
Accruals and deferred income
16
Creditors: amounts falling due after more than one year
Notes
Bank loans
14		 2025
£
924
2025
£
1,461,065
39,204
1,421,861		 2024
£
914
2024
£
995,176
-
995,176
2025
£
39,204
1,166,044
4,800
1,210,048
2025
£
1,421,861		 2024
£
-
668,089
-
668,089
2024
£
995,176

THE RUZIN SADAGORA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

17 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.

At 1
General funds
Previous year:
At 1
General funds		 July 2024
Incoming
resources
Resources
expended
At 30 June
2025
£
£
£
£
2,690,333
670,433
(620,922)
2,739,844
July 2023
Incoming
resources
Resources
expended
At 30 June
2024
£
£
£
£
2,926,373
666,673
(902,713)
2,690,333

18 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

19
Cash generated from operations
Surplus/(deficit) for the year
Adjustments for:
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
Increase in creditors
Cash generated from operations		 2025
£
49,511
138,908
(10)
502,755
691,164		 2024
£
(236,040)
103,591
43,262
1,047,801
958,614

THE RUZIN SADAGORA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

20
Analysis of changes in net (debt)/funds
At
Cash at bank and in hand
Loans falling due within one year
Loans falling due after more than one year		 1 July 2024
£
26,133
-
(995,176)
(969,043)		 Cash flows At 30 June 2025
£
£
25,045
51,178
(39,204)
(39,204)
(426,685)
(1,421,861)
(440,844)
(1,409,887)