CHARITY REGISTRATION NUMBER: 292614 Satmar Nursery Trust Financial Statements 31 March 2025 BRINDLEY GOLDSTEIN LIMITED Chartered accountants & statutory auditor 103 High street Waltham Cr055 EN8 7AN Satmar Nursery Trust Financlal Statements Year ended 31 March 2025 Page Trustees, annual report Independent auditor's report to the members statemenl of financial activities Statemenl of financial position Statemenl of cash flows 10 Noles to the financial statements 11 Satmar Nursery Trust Trustses. Annual Report Year endad 31 March 2025 The trustees present their report and the financial statements of the charty for the year ended 31 MarGh 2025. Reference and administrallve dotall8 Reglsterod charlty name Satmar Nursery Trust Charity registration number 292614 Principal office 4 Chardmore Road London N16 6HX The trustees Mi B. Berger Mr G. Berger Audhor Brindley Goldstein Limf(e Chartered accountsnts & stalulory auditor 103 High street Wakham Cross EN8 7AN StructUrn> govemanco and management The charity is governed by ts DeGlaration of Trust dated 29 July 1985 R￿erVeS The charity retains sufficlent reseNes lo enable (( to continue activities for the foreseeable fulure. Risk Manag•m8nt The charity is not exwsed to any identifiable risks. Public Benefit We ha￿ referred to the guidance contained in the Charity Commission's general guidgnce on public benefit when reviewing our aims and objectives and in planning our future activities. Objectives and a¢tlvltles The charity assists by providing corbsuKancy and advisory services lo other I￿01 nurseries, alongside other ¢haTitable activities. Satmar Nursery Trust Trustees, Annual Report Year ended 31 March 2025 A¢hieYements and perfornlance The charity has continued to provide direct nursery facilities for use by the local Jewish communty. In addition, the chartty continued lo provide consultancy services and suroort to other nurseries. The charity fec&ived donation income of £116,89712024.' £106,944). Financial review The ch8rity's xtivities have been financed by the nursery'¥ income from the DfEE Nursery Education Grant for the Nursery provision and parent f8es, supplemented by voluntary donations lo be able lo maintain its services to the community. The Iruslees have continuèd lo obtain donations which have resulted in the charty's satisfactory perfomiance. The costs of running the nursery and the charity in the year came lo £2,012,298 12024..£1,538,082}. The charity had a surplus in thè yèar of £190,169 12024.. £31.388}. The fund balance at the yearend is £330,109 {2024- £139.9401. Plans for futur8 periods The trustees are hopeful that they will be able to continue the nursery provision for th8 future and continue lo utilise the Trust to support needy families and other nurseries. Rogulatory Engagement Following the yearend, th8 charity engaged in constructive conversation with the Ch?rily Commission in relalion 10 9ranl-making govemanee. Al the date of 8pproval of this report. th8 charty remains in ongoing coopèration wilh the Charity Commission. Trustees. responslbllltles statement The trusle8s ar8 responsible for preparing the trusteès. report and the financial ststements in accordance with applicable law and Unf(ed Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. The law applicable to Gharities in England and Wales requires the charity Iruslees lo prepare financial stalÈmÈnts for 62£h year wh￿h gwe 8 true and fair VI￿ of the stale of affairs of the charity and of the incoming reSoUr￿S and application of resources, of the charity for that period. In preparing these financial $latemenls, the trustees are required lo.. select suitable ac￿u￿tIng policies and Ihen apply them ￿nsistently., observe the methods and principlès in thè 8pplic*Jle Charfties SORP., mak8 judgments and accounting estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will ￿ntinUe in business. Satmar Nursery Trust Trustees. Annual Report (¢ontlnu8dJ Year ended 31 March 2025 The trustees are responsible for keeping adequate accounting iecords that are sufficient lo show and explain the charity's transactions and disclose wi£h reasonable atturacy at any lime the financial position of the charty and enable th8m lo ensure that the financial statements comply with the Chari(ies Act 2011, the applicable Charities {Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are a150 resPQn5ible for safeguaiding the assets of the charity and hence for taking reasonable 5tep$ f¢r prevention and dètection of fraud and other irregularities. The trustees, annuol report Iruste s by.. pproved on 28 January 2026 and signed on behalf of the board of rB.Ber Trustee er Satmar Nursery Trust Independent Audltor's Report to the Members of Satmar Nursery Trust Year ondad 31 March 2025 Opinion We have audrted the financial Slalements of Salmar Nursery Trust (the 'charty'l for the y8ar ended 31 March 2025 which comprise the 51atemenl of financial activities, statement of fi'nancial posrtion, statement of cash flows and the related notes. including a Summary of significant accounti￿ policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland {United Kingdom Generalty Ae¢epled Accounting Practi￿1. In our opinion the financial sta18m8nls'. give a true and fair view of the state of the charity's affairs as al 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., have bèèn proparty prepared in accordance with United Kingdom Generally Accepted Accounting Practice- have been prepared in accordance with the requirements ofthe. Charities Act 2011. Basis for opinion We conducted our audit in accordance with Inlernalignal Standards on Audfcing (UK} IISAS IUKI} and applicable law. Our responsibilities under those standards are further described in the audilorfs responsibilities for the audit of the financi81 st*ements section of our report. We are independent of the charity in accordance with the ethical requirements that ar8 relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fu￿111ed our other elhic81 responsibilities in aecordance with these requiremerrts. We believe that the audr( evidence we have obtained is sufficient and appropri*e lo provide a basis for our opinion. Conclusk)ns relatlng to golng concem In audrting the financial slatemenls, we have concluded that th& trusteos, Use of the going concern basis of accounting in the preparation of the financial statements is aw)ropri818. Based on the work we have performed, we have not idenlrf*d 8ny material Ljncertainliès relating to events or conditions that, individually or collectively, may cast significant doubl on the charity's ability to continue as a going concem for a period of al least ￿e1ve rrKJnths from when the financial statements are aulhorised for issue. Our resFK)nsi)Ililiets and the re8ponsibililies of the trustees with respect to goiThJ conc8rn are described in the relevant sections of this report. Satmar Nursery Trust Independent Audltor's Report to the Mernbers of Satmar Nursery Trust Iconllrni8d) Year ended 31 March 2025 Other information The other information comprises the infgrnialion included in the annual report, other than the financial stslemenls and our auditor's report Ihèreon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other infomialion and, except to the extenl otheNJise explicitly slated In our rekK)r( we do not express any fomi of assurance Gonclusion Ihereon. In conn8Ction with our audrt of the financial statements, our responsibility is to read the other infomialion and, in doing so, consider whether the other information is materially inconsi51enl wilh the financial statements or our knowledge obtaineil in the audit or otherwise appears lo bè materially misstated. If we idenlfy such material inconsistencies or apparent material misstatemen15, we are required to detem)ine whether Ihere is a material misslatemenl in the financial statemènts or 8 material misstatement of the other information. If, based on the work we have performed, wa conclude that there 15 a material mi5slalement of this Qthei infomalion, we are required to report that fact. We have nothing to report in this regard. Matters on whlch are requlred to report by ex¢eption In the light of th8 knowledge and understanding of the charity and ils environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matt8rs in relation to which the Charities Acl 2011 requires us to report to you if. in our (*)inion". the inlormalion giv8n in thè trusteès, rèport is ineonsislenl In any material respect with the financial slalemenls-, or adequate accounting records have not been kept,. or the financial statements are nol in agree￿￿nI with the gccoun1lr￿ records and rètums,. or we have not received all the infomiation and explanations we requlre for our audit. Responsibilities of trustees As explained more fully in the Irustee5' responsibilities ststemenl, the trustees are responsible for the preparation of the financial statements and for being satisfieé that they give a true and fair view, and for such intemal control as the Iru5tees determine is necessary to enable the preparation of financial slalemenls th* are fr8e from material misstatement, whether due to fraud or er￿Trr. In preparing the financial slalements, the trust&8s are responsible for assessing the charity's ability to continue as a going concern, disclosing. as 81)plicable, mallers related lo going concern and using the going COn￿M basis of accounting unless the Iruslees erther intend lo liquidate the charty or to cease operations. or have no realistic aliemative bul lo do so. Satmar Nursery Trust Independent Auditor's Report to the Members of Satmar Nursery Trust (conllnu Year ended 31 March 2025 Auditorfs responsibllities lor the audlt of the linancial statements Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstalemenl, whether due to fraud or effor, and to issue an 8udrf(orfs report that includes our opinion. Reasonable assurancè is a h level of assuran￿, but is not a guarantee that an audrt conducted in accordance with ISAS IUKI will always delecl a material misstslement when il exists. Misst2lèments 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 d8CiSiDns of users tsken on the basis of these financial slaternent5. Irregularities, including fraud, are instances of non