Charity registration number 291296 IEngland and Wales)
Company registration number 01777233
CLOSEHELM LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2025

CLOSEHELM LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs H Wvan Praagh
Mrs H R Grosberg
Mr D Van Praagh
Secretary
Mrs H Wvan Praagh
Charty number (England and Wales}
29129e
Company numbgr
01777233
Regl$ter&d offl¢e
Unil 1, St Stephens Court
15-17 Sl Stephens Road
Bournemouth
Dorset
BH2 6LA
Independent examiner
Mr P J Schofield
Schofields
Chartered Accountants
Unil 1, St Stephens Court
15-17 Sl Stephens Road
Bournemouth
Dorsel
BH2 6LA
Bankers
Barclays Bank PIC
126 Station Road
Edgware
Middlesex
HA8 7RY

CLOSEHELM LIMITED
CONTENTS
Page
Report of the Trustees
Independent examine¢s report
statement of financial activities
Balance sheet
Notes lo the financial stslemenls
6-13

CLOSEHELM LIMITED
cHARl￿'s TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 30 MARCH 2025
The charity's Iruslees present their annual report and financial statements for the year ended 30 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the
financial slalements and comply wth the company's governing document, the Companies Act 2006, FRS 102 The
Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP Accounting
and Reporting by Charities". Slalemenl of Recommended Pradice applicable lo charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021
Objectives and activities
The Charity's main object and ils principal activity is lo support poor people in financial need. It continues to derive
its income from ils investment property and gift aid donations.
The Trustees have given due regard to public benefit when planning the charills activities, in accordance wth the
Charity Commission's guidance on Public Benefit.
During the period, the charity made grants in furtherancè of its objects lo relieve poverty and advance the Jewish
Faith of £135,51812024. £142,674).
Achievements and performance
Charitsble Activities
The charity's income derives from investments, rent and charitsble donations, which is applied for charitable
purposes in accordance with ils Memorandum and Articles ofAssociation.
Rental income derived from ils investment properties provided an overall yield of 4.70k12024'. 5.3%) during the year.
This is consislenl and in line with expectations.
Total incoming resources available for grant distribution {i.e. Total incoming resources less expenditure on raising
funds and support costs) amounted to £120,739 {2024.' £138,703).
2025
2024
Total Grants paid during the period
135,518
142,674
Grants are made lo individuals and institutions in financial need in aC￿rdan￿ with the charity's Memorandum and
Articles of Association. These grants typically cover the housing costs of individuals with low incomes. Grants made
in the period represented a distribution of 112 /0 of this period's available funds for grant dislribution12024.. 103°/01.
The dislribulions reflect a need lo balan￿ the financial needs of individuals and institutions supported and meeting
thè Trustees, reserves policy. A prudent approach is required wth downward pressure on rental income with the
charity's tenants operating within the retail sector.
Financial review
Reserves pollcy
All of the charity's funds are unrestricted. The Trustees have an objective to achieve unrestricted reserves of net
current assets to equal six months running costs to cover the risk presented by the current economic environment
which has seen commercial properties unoccupied and downward pressure on rents receivable.
This would equate lo £81,31912024'. £85,657) in respect of this financial year, excluding exceptional other costs.
The charity currently has a net surplus of current assets over its current liabilities of £89,861 12024.. £133.6401. The
surplus above the policy is held due lo a current void period over the largest unil held and Concerns over ftjrther rent
reductions in the future. The Trustees will continue to monilor the reserves level and take action to address the
excess of reserves once all leases have been renewed and certainty over rental income assLJred.

CLOSEHELM LIMITED
cHARl￿'s TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
Plans for future periods
The trustees continue lo seek ways lo maximise the charity's income from its investment properties lo facililale
continued grant making in support of its charitsble objects.
Structure. governance and management
Closehelm Limited is a company limited by guarantee and is governed by ils Memorandum and Articles of
Association dated 12 De￿mber 1983. The company is reglstered as a charty with the Charity Commission.
The charity's trustees, who are also the directors for the purpose of company law, and who served during the year
and up to the date of signature of the financial statements were..
Mr D Van Praagh
Mrs H Van Praagh
Mrs H Grosberg
Recruitment and appointment of trustees
New Trustees are appointed by the existing Trustee Board and in accordance with the charity's governing document
shall hold office until death, resigns or is disqualifiedlremoved from office. The charity must have a minimum of three
trustees, lo a maximum of 10 Trustees.
Induction and training of new trustees
Upon appointment new Trustees are provided with an induction pack which contains the Memorandum and Articles
ofAssoaation, copies of the past three year's financial statements and a copy of the Charity Commission's guide on
Trustees responsibilities.
Organisation Structure
All the Directors of the Company are also Trustees of the Charity. IAthenever this report of the accompanying
financial statements refer lo the Directors, it indudes the Trustees. The Board of Trustees administers the charity.
The Board meets monthly.
Rlsk Management
The trustees have a duty lo identify and review the risks to which the charity is exposed and to ensure appropriate
controls are in place lo provide reasonable assurance against fraud and error.
The Iruslees have 8 risk management strategy which comprises an annual review of the risks the charity may face,
the eslablishmenl of systems and procedures to miligale those risks identified in the plan and implementation of
procedures designed lo minimise any potential impact on the charty should those risks malerialise. This work has
not identified any new risks bul il has resulted in better procedures and ¢onlingency plans and has given the
impetus for better planning. A key element in the management of financial risk is the setting of a reserves policy and
its regular review by the Trustees.
This report has been prepared in accordance wth the special provisions of Part 15 of the Companies Act 2006
relating lo small companies.
The charity's Iruslees report was approved by the Board of Charity's Trustees.
Pr*k
Mrs H Van Praagh
Trustee
Date..
22 October 2025

CLOSEHELM LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE CHARITY'S TRUSTEES OF CLOSEHELM LIMITED
I report lo the charity trustees on my examination of the financial statements of Closehelm ￿Mited I'the Company'l
for the year ended 30 March 2025.
Responsibilities and basis of report
As the charitys trustees ol the Company land also its directors for the purposes of company lawl. you are
respon51ble toi tme pieparation ot the tinancial slalements In aocor¢lance with the requirernents of the Lompanies
Act 2006.
Having Satisfied myself that the financial slalements of the Company are not required lo be audited under Part 16 of
the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the
Company'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 14515llbl of the Charities
Act2011.
Indepèndent èxaminer's statement
I have completed my examination. I confirm that no matter5 have come to my attention in connection with the
examination giving me cause lo believe that in any material respect".
accounting records were not kept in respect of the Gompany as iequired by section 386 of the Companies Act
2006." or
the financial statements do not accord with those records., or
the financial statements do not carnply with the accounting requirements of section 396 of the Companies Act
2006 other than any requirement that the Iinancial statements give a true and fair view, which is not a matter
considered as part of an independent examination,. or
tho finarbci21 gt2tsmantg h2va not bgon proparad in 2ccord2neè with tho molhodÈ and principl•¢ of thg
Statement of Recommended Piactice for accounting and reporting by charities lapplioable lo charities
prepaiing their financial slaternenls in accordan￿ with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 102)).
I have no concerns a
should be drawn in
have come acmss no other matters in conneolion with the examination lo which attention
Is report in order lo enable a propel unLlerslanding of the financial statements to be reached.
J Scho
The Institut
of Cha
red Accountants in England and Wales
Schofields
Chartered Accountants
Unit 1. Sl Stephens Court
15-17 st stephens Road
BoLJrnemouth
Dorset
BH2 6LA
Date..

CLOSEHELM LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 MARCH 2025
Unrestricted Unrestricted
funds
funds
2025
2024
Notes
Income from:
Investments
147,858
167,343
Total Income
147,858
167,343
Expenditure on-
Raising funds
Charitable activities
Other expenditure
21,731
140,906
29,000
22.187
149,127
11
Total expenditure
191,637
171,314
Net gainslllossesl on investments
12
120,000
Net Incomellexpendlturel and movement In funds
143,7791
116,029
Reconciliation of funds:
Fund balances at 31 March 2024
3,288,640
3,172,611
Fund balances at 30 March 2025
3,244,861
3,288.640
All income and expenditure derive from continuing aclivilies.
The ststemenl of financial activities includes all gains and losses recognised in the year.
The notes on pages 6 10 13 form part of these financial stalemenls.

CLOSEHELM LIMITED
BALANCE SHEET
AS AT 30 MARCH 2025
2025
2024
Notes
Fixed assets
Investment property
14
3,155,000
3,155,000
Current assets
Debtors
Cash at bank and in hand
16
17,959
188,324
19,727
242,391
204,283
262.118
Creditors- amounts falling due within
one year
17
{114,4221
1128,4781
Net current assets
89,861
133,640
Totsl assets le$$ current Ilabllltles
3,244,881
3,288,640
Net assets
3,244,881
3,288,640
Funds
Unrestricted funds
18
3,244,861
3,288,640
Totsl Funds
3,244,861
3,288,640
The company is enlilled to the exemption from the audit requirement contsined in section 477 of the Companies Act
2006, for the year ended 30 March 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect lo a¢¢ounling records and the preparation of financial statements.
The members have not required the wmpany lo obtain an audit of ils financial ststemenls for the year in question in
accordance with section 476.
These financial stslemenls have been prepared in accordance with the provisions applicable to companies subject
to the small companies regime.
The financial stslements were approved by the charity's trustees on
22 October 2025
Va4 TrGuyh
frl FA￿
Mr D Van Praagh
Trustee
Mrs H Van Praagh
Trustee
Company registration number 01777233 (England and Wales)
The notes on pages 6 10 13 form part of these financial stalernents.

CLOSEHELM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2025
Accounting policies
Charity inforniation
Closehelm Limited is 8 private company lim(ted by guarantee, registered in England and Wales. In the event
of the charity being wound up, the liability in respect of the guarantee is limited lo £1 per member of the
charity. The address of the registered office is disclosed within the legal and adminislralive information section
of these finanaal statements. The nature of the charty's operations and principal activities are the
advancement of religion in accordance wlh the Orthodox Jewish Faith and the relief of povety.
1.1 Accountlny ¢onventlon
The finanaal slalements of the charitable company, which is a public benefit enlily under FRS 102, have been
prepared in accordance with the company's goveming document, the Companies Act 2006, FRS 102 Thè
Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP
"Accounting and Reporting by Charities". Statement of Recommended Pradice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 leffective 1 January 20191
The Charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of
cash flows.
The financial statements are prepared in sterfing, which is the fLJnctional CLJrrency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial ststements have been prepared under the historical cost convention, as modified lo include the
revaluation of certain assets. The principal accounting policies adopted are set out below.
1.2 Golng concern
The company is dependent on the continued support of companies controlled by the Trustees, and their
agreement of deferring the amounts due lo them. There are no reasons to suggest that this support shall not
continue for a period in excess of twelve month5 from the approval of the accounts.
The charity's income is principally derived from rental income from retsilers on its investment propety
portfolio. The impact of the pandemic and changes in consumer habits away from the high street Continue lo
place downward pressure on investment returns. The Trustees have carefully considered the potential impact
on revenue streams and cash flow projections confimi that the company will continue to meet its debts and
obligations as they fall due. It has been conduded that there are no material uncertainties and that il is
appropriate for the financial statements be prepared on a going concern basis.
1.3 Fund accountlng
Unrestricted funds can be used in accordance ￿rith the charitable objectives at the discretion of the the
trustees.
Reslricled funds can only be used for particular restricted purposes wlhin the objects of the charity.
Reslriclions arise when specified by the donor or when funds are raised for particular restrided purposes.
Further explanation of the nature and purpose of each fund is included in the notes lo the financial
slalements.
1.4 Income
Income is recognised when the charity Is legally entitled to il after any performance conditions have bèen met,
the amounts can be measured reliably, and il is probable that income will be received.
For donations to be recognised the charity will have been notified of the amoLJnts and the settlement date in
writing. If there are conditions attached to the donation and this requires a level of performance before
enlitlemenl can be obtained then income is deferred until those conditlons are fully met or the fuifilment of
those conditions is within the control of the charity and Il is probable that they will be fulfilled.

CLOSEHELM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
Accountlng pollcles
Icontlnuedl
Investment income is eamed through holding assets for investment purposes such as shares and property. 11
indudes dividends, interest and rent. Where il is not practicable lo identify investment management costs
incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is
induded when the amount can be measured reliably. Interest income is recognised Ljsing the effective interest
method and dividend and rent income is recognised as the charity's right lo receive payment is established.
1.5 Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the
charity lo that expenditure, it is probable that a transfer of ewnomic benefits will be required in setuement and
the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and
has been classified under headings that aggregate all cost related to the category. INhere costs cannot be
direcuy attributed lo particular headings they have been allocated to activities on a basis consislenl with the
use of resources.
Grants offered subject lo conditions which have not been mel at the year end dale are noted as a commitment
bul not accrued as expenditure.
1.6 Investment property
Investment properties are measured at fair value al each reporting date with changes in fair value ￿COgnised
in'net gains / Ilossesl on investments, in the SOFA.
1.7 Debtors and crgdltors re¢elvablglpayable wllhln ong year
Debtors and creditors with no slated interest rate and receivable or payable within one year are recorded al
transaction price. Any losses arising from impairment are recognised in expenditure.
1.8 Cash and cash equlvalents
Cash and cash equivalents indude cash in hand, deposits held al call wth banks, other short-lerm liquid
investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown
thin borrowngs in current liabilities.
1.9 Financial instruments
I financial assets and liabilities are recognised as basi¢ financial instruments which are initially recognised al
transaction value and subsequently measured al their setuement value.
1.10 Taxation
The charity is exempt from corporation tax on its charitable activities.
1.11 Provlslons
Provisions are recognised when, and only when, il is probable that a present obligation exsls, as a result of a
past event and the transfer of economic benefit can be reliably estimated.
Critical accounting estimates and judgements
In the application of the charity's accounting policies, the charity's trustees are required lo make judgements,
eslimales and assumptions about the carrying amount of assets and liabilV(ies that are not readily apparent
from other Sour￿$. The eslimales 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
eslimales 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.

CLOSEHELM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
Income from investments
Unrestricted Unrestricted
funds
funds
2025
2024
Rents received
Bank and other interest
147,599
259
167,079
264
147,858
167,343
Expenditure on raising funds
Unrestricted Unrestricted
funds
funds
202S
2024
Invgstment managomgnt
Rates and water
Propety repairs and maintenance
Management and administrative charges
Insurance
Bank Charges
Legal and professional fees
Computer costs
1,599
6,353
1,854
3,041
494
8,196
194
3,017
2,369
1,565
3,153
658
11,219
206
21,731
22,187
Expendlture on charltable actlvltles
Grant
funding of
actlvltles
2025
Support
costs
Total
Grant
funding of
actlvltles
2024
Support
costs
Total
2025
2025
2024
2024
Dlrect ¢o$ts
Grant funding of aclivib.es
Isee note 61
135,518
135,518
142,674
142,674
Share of support and governance costs Isee note 71
Support
5,388
5,388
6,453
6,453
135,518
5,388
140,906
142,674
6,453
149,127

CLOSEHELM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
Grants payable
Grant
fundlny of
activities
2025
Grant
fundlng of
activities
2024
Grants lo institutions..
Zaks
VHLT Limited
Chanichel Yesivas Jewish Teacher
Beth Avraham Synagogue
21,182
75,000
1,440
234
93,300
1,440
335
97,856
95,075
Grants to individuals
37,662
47,599
135,518
142,674
Support costs allocated to activities
Finance Governance
2025
2025
Total
2025
Total
2024
Bookkeeping
Governance
718
718
4,670
1,548
4,905
4,870
718
4,870
5,388
6,453
Independent examlners remuneratlon
2025
2024
For non audit services
Independent examiners remuneration
4,670
4,905
Charlty'$ Trustee$
None of the charity's Iruslees lor any persons connected with Iheml received any remuneration or benefits
from the during the year.
Trustees expenses
There were no Iruslees, expenses paid for the year ended 30 March 2025 nor the year ended 30 March 2024.

CLOSEHELM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
10 Employees
The average monthly number of ernployees during the year was..
2025
Number
2024
Numb9r
Total
11
Other axpenditurn
Unrg$lrl¢ted Unrg$trl¢ted
funds
funds
2025
2024
Tenancy dispute selllemenl
Dilapidation costs recoverable
60,000
131,0001
29,000
12 Gains and lossgs on investmants
Unrg$trl¢ted UnrgStrl¢tgd
funds
funds
202S
2024
Gainslllossesl arising on..
Revaluation of investment properties
120,000
13 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
14 Invg$tm9nl propgrty
2025
Fair value
Al 31 March 2024 and 30 March 2025
3,155,000
Investment propety was valued on an open market value basis on 30 March 2025 by the Trustees. The
historic cost of the investment property amounts lo £3,611,46212024.' £3,611,4621.
10-

CLOSEHELM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
15 Financial instruments
2025
2024
Carying amount offinancial assets
Debt Instruments measured al amortised cost..
Trade debtors
Other debtors
Prepayments and acctued income
15,591
1,891
477
19,268
459
17,959
19,727
Carrying amount of financial liabilitios
Measured al amortised cost..
Trade Creditors
Social security and other taxes
Other creditors
- Amounts owed to associate undertakings
- Accruals and deferred income
27,792
33,704
3,251
17,707
24.652
49,164
17,707
24,652
44,271
114,422
128,478
16 Dgbtors
2025
2024
Amounts falllng due wlthln one year:
Trade debtors
Other debtors
Prepayments and accrued income
15,591
1,891
477
19,268
459
17,959
19,727

CLOSEHELM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
17 Creditors- amounts falling due within one year
2025
2024
Trade creditors
Social security and other taxes
Other creditors
Amounts owed lo associate undertakings
Accruals and deferred Income
27,792
33,704
3,251
17,707
24,652
49,164
17,707
24,652
44,271
114,422
128,478
Deferred income comprises of quartely rents and service charges received in advance as follows."
Balance as al 31 March 2024
Amounts released lo investment income
37,403
134,1151
Balan￿ as al 30 March 2025
3,288
18 Unrestrlcted funds
The unrestricted funds of the charty comprise the unexpended balance of investment income Iprincipally
rents derived from the charity's investment properties) and donations not subject lo specific conditions by
donors as lo how they may be used. These include designated funds which have been set aside out of
unrestricted funds by the Iruslees for specific purposes.
At 31 March
2024
Incoming
r&sourc&s
Resources
expended
Gains and At30 March
losses
2026
General funds
3,288,640
147,858
1191,6371
3,244,861
Previous year:
At 31 March
2023
Incoming
resources
Resources
expended
Gains and At 30 March
losses
2024
General funds
3,172,611
167,343
1171,3141
120,000
3,288,640
12-

CLOSEHELM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
19 Analysis of net assets between funds
Unrestrlcted
funds
2025
At 30 March 2025:
Investment properties
Current assetsllliabilitiesl
3,155,000
89,861
3,244,861
Unrestricted
funds
2024
At 30 March 2024:
Investment properties
Current assetsllliabililiesl
3,155,000
133,640
3,288,640
20 Related party transactions
During the year the company was loaned funds lo pursue ils charitable objects by Broadminster Limited, a
company controlled by the Trustees. Al the year end amounts due to Broadminsler Limited lotalled £24,652
{2024". £24,652). The loan from Broadminsler Limited is interest free, unsecured and repayable on demand.
During the year the Trustee Mrs H W Van Praagh loaned funds to the company. At the year end, amounts due
lo the Trustee lotslled £17,707 12024'£17,7071. The loan is interest free, unsecured and repayable on
demand.
21 Controlllng party
The charity is controlled by the Trustees.
13-