THE KREDITOR CHARITABLE TRUST FINANCIAL ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 AND BALANCE SHEET AS AT 5 APRIL 2024 KREDITOR CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2024 The trustees present their report and accounts for the year ended 5 April 2024. Trustees The trustees named below have served throughout the year. Appointment of trustees is governed by the Trust Deed of the charity. The Board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee. P. M. Kreditor S. Kredilor Chari Number: The registered number of the charity is.. 292649 Investment Powers The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity, but no SUGh investments are presently held. Structure Governance and Mana ement Organisational Structure The charity is managed exclusively by the trustees. Risk Management The trustees have carried out a review of the risks under which the charity operates and have pul into place measures to reduce the risk of financial or other loss to the charity. The princlpal risks identified are: A reduction in grants received in recent years may lead to a decline in charitable causes that the charity may be able to support in the future. The charity manages this risk by assessing current and anticipated levels of funds available and issued grants according to these factors. The idenlification of investment means to maximise the income derived by the charity for the minimum level of risk. This risk has been managed by placing the bulk of the charity's funds on deposit with a main clearing bank. Training The charitvs trustees periodically evaluate possible training requirements to best suit the charity's objectives. KREDITOR CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2024 Ob"ectives and Activitles The objects of the charity are to advance religion in accordance with the Orthodox Jewish Faith and to SUPF))rt other charitable activities as are recognized under English Law. Each year the tnjstees review their objectives and activities to ensure that they continue to reflect the trustees, aims. In carrying out their review the trustees have considered the charity commission's general guidance on public benefit and in particular it's supplementary public guidance, with focused regard towards the advancement of the Orthodox Jewish Falth and all its facets for the public benefit. Develo ment Actlvities and Achlevements The trustees consider that the performance of the charity this year has been satisfactory. Financial Revlew The financial status of the charity is detailed in the enclosed financial statements. Funds available are sufficient lo permit the Trust to continue in operation in the medium tenn. Future Develo ments The charity aims to continue to support its currenl charitable objectives. Reserves The Iruslees endeavor to maintain sufficient fundirvJ to meet six mnths charitable expenditure based on the previous six months charitable awards. ststements of Trustsas, Res nslbilities The charity's trustees are responsible for preparing an annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi￿). The law applicable to charities ir• 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 period. In preparing the financial statements, the trustees are required to: select suitable accountlng policies and then apply them consistently: Observe the methods and principles in the charities SORP make judgements arKI estimates that are reasonable and prudent. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financlal statements- prepare the financial statements on the going concem basis unless it is inapproprlale to presume that the charity will continue in business. KREDITOR CHARITABLE TRUST STEES, REPORT THE YEAR ENDED APRIL 2024 Statements of Trustees, Res onsrbilities (Gonlinuedj The Trustees are responsible for keeping proper accounting records that disclose, with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Gharity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. roval This report was approved by the trustees and signed on their behalf. P.M. Kreditor Trustee Dated: 18 FEBRUARY 2025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE KREDITOR CHARITABLE TRUST YEAR ENDED 5 APRIL 2024 I report on the accounts of the charity for the year ended 5 April 2024 set out on pages 5 to 8. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER The charity's Irustees are responsible for the preparation of the accounts. The charity's trustees consider thal an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act). and that an independent examination is needed. It is my responsibility to- examine the accounts (under section 145 of the Charities Act) and to follow the procedures laid down in the General Directions given by the Charity Commission {under sedion 145(51{b) of the Charities Act) and to stste whether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINER'S STATEMENT My examination was carried out in accordance with the General Directions given by the Charfty Commission. An examination includes a review of the accounting record5 kept by the charity and a comparison of the accounts presented wlth those records. It also includes consideration of any unusual items or disclosures in the acwunts. and seeking explanations from you as trustees ¢on¢eming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and o)nsequently I do not express an audit opinion on whether the accounts present a 'true and fair view,. INDEPENDENT EXAMINER'S STATEMENT In connection with my examination, no matter has come to my attention.. {1) which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that: proper aGcounling records are kept in accordance with section 130 of the Charities Act. and accounts are prepared which ag￿e with the accounting records and comply with the accounting requirements of the Charities Act. or {2) to whlch, in my opinion, attention should be drawn In order to enable a proper understanding of the accounts to be reached. Phillip Smulovitch FCA Independent examiner Hallswelle House 1 Hallswelle Road London NW11 ODH Date: 18 February 2025 THE KREDITOR CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5APRIL 2024 Unrestrlcted Funds 2024 2023 INCOMING RESOURCES Gfft aid ￿)ntributIOnS from individuals & companies 119,130 60,000 Bank interest 1,184 399 TOTAL INCOMING RESOURCES 120,314 60,399 RESOURCES EXPENDED Payments to charities 143.121 NET EXCESS OF INCOME OVER EXPENDITUREI EXPENDITURE OVER INCOME 33.474 (82,722) Balance brought fO￿ard at 5th April 2023 143.915 226,637 BALANCE CARRIED FORWARD AT 5TH APRIL 2024 £177.389 £143.915 THE KREDITOR CHARITABLE TRUST NCE SHEET AS 5 APRIL 2 Unrestrfcted Funds 2024 2023 CURRENT ASSETS Taxalion recoverable 27,750 27,750 Cash at bank 149,739 116,265 TOTAL ASSETS £177.489 £144.015 REPRESENTED BY:_ Amount settl 100 1(K) Income and expenditure account 177,389 143,915 £177,489 £144.015 Signed P. M. KREDITOR Tnjstee Dated the 18 February 2025 THE KREDITOR CHARITABLE TRUST NOTES TO THE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 1. Accountln olicies (a) Basis of preparatlon The financial ststements have been prepared underthe historkcal cost convention and in accordance wtth applicable the Statement of Recommended Practits 'Ac￿Unting and Reporting by Charities. issued in March 2005 (SORP 2005) and the Charities Act 2011 . (b) Funds structure Unrestricted income funds comprise those funds which the Trustees are free to use for any purpose in furtherance of the charitsble objects. Unrestricted funds include designated funds where the Trustees, at Iheir discretion. have set aside resour￿$ for a specific purpose. Restricted funds are funds whlch are to be used in accnrdance with specific restrictions Imposed by Ihe donor or the temis of a specific appeal. (c> Incoming resources All incoming reSoUr￿S are recognised once the charlty has entitlement to the resources, it is certain that the resour￿5 will be re￿iVed and the monetary value of incoming resources can be measured with sufficient reliability. Voluntary income is recelved by way of donations. and is included in full in Ihe Statement of Financial Activities when receivable. Grants, where entitlement is not condtiional on the delivery of a specific performance by the Charity, are reeognised when the Chaiity bewmes unconditionally entitled to the grant. In(cming rvsources from grants. where there are performance or Servi￿ deliverables required by the temis of the grant, are accL)unted for as the charity eams the right to payment throL￿h ts perfon￿an￿. Investment incorne is included when re￿1Vable. (d) Resources expended Liabilities are re(xJgnised as resources expended as soon as there is a legal or construclive obligation committing the charity to the expenditure. All expenditure is account￿ for on an accruals basis and has been classrfied under headings that aggregate all costs related to the category. THE KREDITOR CHARITABLE TRUST NOTES TO THE ACCOUNT FOR THE YEAR ENDED 5 APRIL2024 (e) Irrecovgrable VAT Irrecoverable VAT is tharged against the category of resources expended for which it was incurred. (fj All¢xatlon of overhead and support costs Support costs include administrative office functions and have been allocated to activity cost categories on a basis consistent with the use of resources. (g) Govemance costs Governance costs include those costs associated with meeting the constitLrtional and statutory requirements of the charity arKI include its audit fees and costs linked to the strategic management of the charity including trustee expenses. 2. Matsrial Grants Paid A copy of a list of material g￿nts issued during the year can be obtained by letter request to the principal address of the Charity.