Docusign Envelope ID: C9086DB3-E1C4-4D8F-9B16-29A143BEFD4E
COMPANY REGISTRATION NUMBER: 01873929
CHARITY REGISTRATION NUMBER: 293792
KALEV GEMACH LIMITED
COMPANY LIMITED BY GUARANTEE
Unaudited Financial Statements
For the year ended
31 March 2025
COHEN ARNOLD
Chartered accountants New Burlington House 1075 Finchley Road London NW11 0PU
Docusign Envelope ID: C9086DB3-E1C4-4D8F-9B16-29A143BEFD4E
KALEV GEMACH LIMITED
COMPANY LIMITED BY GUARANTEE
Financial Statements
Year ended 31 March 2025
| Pages | |
|---|---|
| Trustees' Annual Report (Incorporating the Director's Report) | 1 to 2 |
| Independent Examiner's Report to the Trustees | 3 |
| Statement of Financial Activities (Including Income and Expenditure | |
| Account) | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 11 |
Docusign Envelope ID: C9086DB3-E1C4-4D8F-9B16-29A143BEFD4E
KALEV GEMACH LIMITED
COMPANY LIMITED BY GUARANTEE
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2025
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2025.
Reference and administrative details
Registered charity name Kalev Gemach Limited Charity registration number 293792 Company registration number 01873929 Principal office and registered New Burlington House office 1075 Finchley Road London NW11 0PU
The trustees
Mr A Horowitz (Chairman) Mr I Friedman Mr A Stern Company secretary Mr A Horowitz Independent examiner J A Neumann FCA Cohen Arnold New Burlington House 1075 Finchley Road London NW11 0PU
Structure, governance and management
The Charity is constituted as a Company limited by guarantee, and is therefore governed by its Memorandum and Articles of Association.
The Trustees administer the day-to-day affairs of the Charity. None of the Trustees have any beneficial interest in the Charity.
It is not currently the intention of the Trustees of the Charity to appoint new Trustees. Should the situation change in the future, the Trustees will apply suitable recruitment training and induction procedures.
Risk management
The Company has assessed the major risks to which it is exposed particularly those relating to the operations and finances of the Company. It is satisfied that the systems are in place to mitigate its exposure to those risks.
Objectives and activities
The Company is established to further both in the United Kingdom and abroad those purposes recognised as charitable by English Law. To achieve these objects, the Company utilises its income to make donations and interest free loans.
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Docusign Envelope ID: C9086DB3-E1C4-4D8F-9B16-29A143BEFD4E
KALEV GEMACH LIMITED
COMPANY LIMITED BY GUARANTEE
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Achievements and performance
During the year the Company continued to pursue its philanthropic objects in support of Charitable Organisations and individuals in need of interest free loans which was in accordance with the guidance of the Charity Commission relating to Public Benefit.
Financial review
Income from donations aggregated £37,500. Total resources expended were £46,591 resulting in a net deficit of £9,091.
Interest free loans granted during the year amounted to £25,650. The amounts outstanding at 31 March 2025 were £75,300.
The financial results of the Charity's activities for the year to 31 March 2025 are fully reflected in the attached Financial Statements together with the Notes thereon.
Reserves policy
It is the policy of the Company to maintain unrestricted funds, which are the free reserves of the charity, at a level which the Trustees consider appropriate after taking account of the future commitments of the Company.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
23/12/2025
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Mr I Friedman Trustee
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Docusign Envelope ID: C9086DB3-E1C4-4D8F-9B16-29A143BEFD4E
KALEV GEMACH LIMITED
COMPANY LIMITED BY GUARANTEE
Independent Examiner's Report to the Trustees of Kalev Gemach Limited
Year ended 31 March 2025
I report to the trustees on my examination of the financial statements of Kalev Gemach Limited ('the charity') for the year ended 31 March 2025.
Responsibilities and basis of report
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Independent examiner's statement
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:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 accounts to be reached.
J A Neumann FCA Cohen Arnold Independent Examiner
New Burlington House 1075 Finchley Road London NW11 0PU
23/12/2025
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Docusign Envelope ID: C9086DB3-E1C4-4D8F-9B16-29A143BEFD4E
KALEV GEMACH LIMITED
COMPANY LIMITED BY GUARANTEE
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2025
| 2025 | 2025 | 2024 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 37,500 | 37,500 | 44,000 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total income | 37,500 | 37,500 | 44,000 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 6,7 | (46,591) | (46,591) | (45,118) |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total expenditure | (46,591) | (46,591) | (45,118) | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net expenditure and net movement in funds | (9,091) | (9,091) | (1,118) | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 82,940 | 82,940 | 84,058 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 73,849 | 73,849 | 82,940 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 11 form part of these financial statements.
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Docusign Envelope ID: C9086DB3-E1C4-4D8F-9B16-29A143BEFD4E
KALEV GEMACH LIMITED
COMPANY LIMITED BY GUARANTEE
Balance Sheet
| 31 | March 2025 | ||||
|---|---|---|---|---|---|
| 2025 | 2024 | ||||
| Note | £ | £ | £ | £ | |
| Current assets | |||||
| Debtors | 11 | 75,300 | 78,630 | ||
| Cash at bank and in hand | 349 | 7,190 | |||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||||
| 75,649 | 85,820 | ||||
| Creditors: amounts falling due | |||||
| within one year | 12 | (1,800) | (2,880) | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||||
| Net current assets | 73,849 | 82,940 | |||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||||
| Total assets less current liabilities | 73,849 | 82,940 | |||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||||
| Funds of the charity | |||||
| Unrestricted funds | 73,849 | 82,940 | |||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||||
| Total charity funds | 13 | 73,849 ৶৶৶৶৶৶৶৶৶ |
82,940 ৶৶৶৶৶৶৶৶৶ |
For the year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:23/12/2025
Mr I Friedman Trustee
The notes on pages 6 to 11 form part of these financial statements.
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Docusign Envelope ID: C9086DB3-E1C4-4D8F-9B16-29A143BEFD4E
KALEV GEMACH LIMITED
COMPANY LIMITED BY GUARANTEE
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is New Burlington House, 1075 Finchley Road, London, NW11 0PU.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared in accordance with the accounting principles appropriate to a going concern, as the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due, based on the net current asset position of the charity and available sources of finance.
The charity's main activity is grant making. The charity has modest overheads and the trustees have the ability to exercise control over the charity's grant making charitable activities and to call on support from benefactors, such that the trustees believe the charity will continue as a going concern.
Charitable activities
Charitable activities are only recognised in the accounts when paid.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future projects or commitments.
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.
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Docusign Envelope ID: C9086DB3-E1C4-4D8F-9B16-29A143BEFD4E
KALEV GEMACH LIMITED COMPANY LIMITED BY GUARANTEE
Notes to the Financial Statements (continued)
Year ended 31 March 2025
3. Accounting policies (continued)
Incoming resources
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:
-
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.
-
legacy income is recognised when receipt is probable and entitlement is established.
Resources expended
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:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all its financial liabilities.
Basic financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash balances and call deposits.
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Docusign Envelope ID: C9086DB3-E1C4-4D8F-9B16-29A143BEFD4E
KALEV GEMACH LIMITED COMPANY LIMITED BY GUARANTEE
Notes to the Financial Statements (continued)
Year ended 31 March 2025
3. Accounting policies (continued)
Financial instruments (continued)
Other debtors
Trade and other debtors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate for a similar debt instrument.
Other creditors
Trade and other creditors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate for a similar debt instrument.
4. Limited by guarantee
The Charity is constituted as a Company limited by guarantee, and is therefore governed by its Memorandum and Articles of Association. The Trustees have undertaken to contribute such amounts not exceeding one pound as may be required in the event of the company being wound up.
5. Donations and legacies
| Donations and legacies | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations Received | 37,500 | 37,500 | 44,000 | 44,000 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
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Docusign Envelope ID: C9086DB3-E1C4-4D8F-9B16-29A143BEFD4E
KALEV GEMACH LIMITED
COMPANY LIMITED BY GUARANTEE
Notes to the Financial Statements (continued)
Year ended 31 March 2025
6. Expenditure on charitable activities by fund type
Donations paid comprise the following grants made during the year:
| Charity | £ |
|---|---|
| Yetev Lev London Jerusalem Trust | 3,500 |
| The Z.S.V. Trust | 2,720 |
| Kollel Shomrei Hachomos | 2,550 |
| The Shaarei Chesed Trust | 2,000 |
| The Torath Chesed Yeshiva Trust | 2,000 |
| Yeshivo Horomo | 2,000 |
| Tatsil Trust | 2,000 |
| Yesamach Levav | 1,450 |
| The Torath Chesed Yeshiva Trust | 1,400 |
| Ezras Yoel | 1,320 |
| The Talmud Centre Trust | 1,300 |
| Friends Of Shekel Hakodesh Limited | 1,200 |
| Be'er Yitzchok Trust | 1,000 |
| Chevras Mo'oz Ladol | 1,000 |
| Tov Vchesed | 1,000 |
| Beis Aharon TT Activity Centre | 1,000 |
| Yad Vochessed Association Limited | 1,000 |
| T & S Trust Fund | 1,000 |
| Camp Knak | 1,000 |
| Other donations below £1,000 | 13,310 |
| ৄৄৄৄৄৄৄৄৄ | |
| 43,750 | |
| ৶৶৶৶৶৶৶৶৶ |
7. Expenditure on charitable activities by activity type
| Grant funding | Total funds | Total fund | |||
|---|---|---|---|---|---|
| of activities | Support costs | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Donations paid | 43,750 | – | 43,750 | 43,270 | |
| Governance costs | – | 2,841 | 2,841 | 1,848 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| 43,750 | 2,841 | 46,591 | 45,118 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| 8. | Analysis of grants | ||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Grants to institutions | |||||
| Grants to institutions | 43,570 | 43,270 | |||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||||
| Total grants | 43,570 | 43,270 | |||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
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Docusign Envelope ID: C9086DB3-E1C4-4D8F-9B16-29A143BEFD4E
KALEV GEMACH LIMITED
COMPANY LIMITED BY GUARANTEE
Notes to the Financial Statements (continued)
Year ended 31 March 2025
9. Independent examination fees
| Independent examination fees | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 1,800 ৶৶৶৶৶৶৶ |
1,440 ৶৶৶৶৶৶৶ |
10. Trustee remuneration and expenses
No Trustees received any remuneration during the year (2024: £nil). The charity did not meet any individual expenses incurred by the Trustees for services provided to the charity.
11. Debtors
| 11. | Debtors | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Other debtors | 75,300 | 78,630 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| 12. | Creditors: amounts falling due within one year | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Sundry Creditors and Accruals | 1,800 | 2,880 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
13. Analysis of charitable funds
Unrestricted funds
| At | |||||
|---|---|---|---|---|---|
| At | 31 March 20 | ||||
| 1 | April 2024 | Income | Expenditure | 25 | |
| £ | £ | £ | £ | ||
| General funds | 82,940 | 37,500 | (46,591) | 73,849 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| At | |||||
| At | 31 March 202 | ||||
| 1 | April 2023 | Income | Expenditure | 4 | |
| £ | £ | £ | £ | ||
| General funds | 84,058 | 44,000 | (45,118) | 82,940 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
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Docusign Envelope ID: C9086DB3-E1C4-4D8F-9B16-29A143BEFD4E
KALEV GEMACH LIMITED COMPANY LIMITED BY GUARANTEE
Notes to the Financial Statements (continued)
Year ended 31 March 2025
14. Analysis of net assets between funds
| Analysis of net assets between funds | ||
|---|---|---|
| Unrestricted | Total Funds | |
| Funds | 2025 | |
| £ | £ | |
| Current assets | 75,649 | 75,649 |
| Creditors less than 1 year | (1,800) | (1,800) |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Net assets | 73,849 | 73,849 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Unrestricted | Total Funds | |
| Funds | 2024 | |
| £ | £ | |
| Current assets | 85,820 | 85,820 |
| Creditors less than 1 year | (2,880) | (2,880) |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Net assets | 82,940 | 82,940 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
15. Related party transactions
During the year the charity received Gift Aid of £35,000 (2024: £20,000) from J S Estates Limited, £2,500 from Quotesave Limited (2024: £nil) and £nil (2024: £20,000) from Keepfine Limited. Mr Friedman, a Trustee of the charity, is a director of these companies.
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