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2025-04-05-accounts

Charity registration number 296705 (England and Wales)

THE RABBI SOLOMON D SASSOON MEMORIAL FUND ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

THE RABBI SOLOMON D SASSOON MEMORIAL FUND

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr Philip Goldberg Mrs Mozelle Gubbay Mr Joseph Gubbay Charity number (England and Wales) 296705 Principal address 42 Russel Gardens London NW11 9NL

Independent examiner

Weissbraun Emanuel 220 The Vale London NW11 8SR

THE RABBI SOLOMON D SASSOON MEMORIAL FUND

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 10

THE RABBI SOLOMON D SASSOON MEMORIAL FUND

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2025

The trustees present their annual report and financial statements for the year ended 5 April 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 Trust Deed, the Charities Act 2011 and "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) (effective 1 January 2019)".

Objectives and activities

The Charity's objects are to advance Jewish education, to advance the religion of the Jewish faith in accordance with the orthodox practice, the relief of poverty, the relief and care of orphans, elderly and the sick and the infirm, and such other purposes that are recognised by English law as being charitable.

Public benefit

Public benefit

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

The charity is committed to the relief of poverty and assist needy Jewish families financially and also through distribution of basic needs.

Grant making policy

The trustees consider all requests which they receive and make donations based on the level of funds available. In making the donations, the trustees use their personal knowledge of the institutions, individual and reputations. The trustees monitor the application of the Donations by meeting with representatives of the institutions and individuals, and obtaining information as to the utilisation of funds.

Achievements and performance

Significant activities and achievements against objectives

Financial review

In the period under review, the project made a deficit of £2,289 (2024: Surplus of £5,840).

Reserves policy

Reserves policy

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Investment policy

Investment policy

In accordance with the deed of trust, the trustees have the power to invest in such stocks, other investments including properties in the UK as they see fit. All income arising from the investments will be used for charitable purpose.

Major risks

Risk assessment

The trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

THE RABBI SOLOMON D SASSOON MEMORIAL FUND

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

Structure, governance and management

The charity is a legally registered charity no.296705 constituted by a deed of trust.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr Philip Goldberg

Mrs Mozelle Gubbay Mr Joseph Gubbay

Recruitment and appointment of trustees

Organisational structure

The day to day management is delegated to Mr. P Goldberg and supported by all other trustees.

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

Mr Philip Goldberg

Trustee

21 January 2026

THE RABBI SOLOMON D SASSOON MEMORIAL FUND

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE RABBI SOLOMON D SASSOON MEMORIAL FUND

I report to the trustees on my examination of the financial statements of THE RABBI SOLOMON D SASSOON MEMORIAL FUND (the Charity) for the year ended 5 April 2025.

Responsibilities and basis of report

As the trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the Charity’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 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 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. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

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 that in any material respect:

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 financial statements to be reached.

Michael Weissbraun, FCA Weissbraun Emanuel

220 The Vale London NW11 8SR

Dated: 21 January 2026

THE RABBI SOLOMON D SASSOON MEMORIAL FUND

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 5 APRIL 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Donations and legacies 3 14,000 616
Charitable activities 4 19,979 17,901
Total income 33,979 18,517
Expenditure on:
Charitable activities 5 36,268 12,678
Total expenditure 36,268 12,678
Net income/(expenditure) and movement in funds (2,289) 5,839
Reconciliation of funds:
Fund balances at 6 April 2024 185,280 179,441
Fund balances at 5 April 2025 182,991 185,280

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

THE RABBI SOLOMON D SASSOON MEMORIAL FUND

BALANCE SHEET

AS AT 5 APRIL 2025

Notes
Fixed assets
Investment property
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
The funds of the Charity
Unrestricted funds
15		 2025
£
-
2,981
2,981
(780)		 £
180,790
2,201
182,991
182,991
182,991		 2024
£
(75)
5,825
5,750
(1,260)		 £
180,790
4,490
185,280
185,280
185,280

The financial statements were approved by the trustees on 21 January 2026

Mr Philip Goldberg Trustee

THE RABBI SOLOMON D SASSOON MEMORIAL FUND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

Charity information

THE RABBI SOLOMON D SASSOON MEMORIAL FUND is charity registered by trust deed dated on 01 April 1987.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the Charity's Trust Deed, the Charities Act 2011 and "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) (effective 1 January 2019)". The Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

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.

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.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure. It is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.

1.6 Investment property

1.7 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.

THE RABBI SOLOMON D SASSOON MEMORIAL FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

(Continued)

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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in net income/(expenditure), except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

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 14,000 616
4 Income from charitable activities
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Charitable rental income 19,979 17,901

THE RABBI SOLOMON D SASSOON MEMORIAL FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

5 Expenditure on charitable activities

Direct costs
Grant funding of activities (see note 6)
Share of support and governance costs (see note 7)
Support
Governance
Analysis by fund
Unrestricted funds
6
Grants payable
Grants to institutions:
Other		 2025
£
33,750
1,738
780
36,268
36,268
2025
£
33,750		 2024
£
9,300
2,468
910
12,678
12,678
2024
£
9,300

7 Support costs

Support costs
Support
costs
Governance
costs
£
£
Repairs & maintenance
800
-
Insurance
895
-
Bank charges
43
-
Audit fees
-
780
Legal and professional
-
-
1,738
780
Analysed between
Charitable activities
1,738
780		 2025
Support
costs
Governance
costs
£
£
£
800
1,633
-
895
835
-
43
-
-
780
-
660
-
-
250
2,518
2,468
910
2,518
2,468
910		 2024
£
1,633
835
-
660
250
3,378
3,378

Governance costs includes payments to the auditors of £780 (2024- £660) for accountancy fees.

THE RABBI SOLOMON D SASSOON MEMORIAL FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

8 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements 780 660

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year. There were no trustees' expenses paid for the year.

10 Employees

The average monthly number of employees during the year was:

Total
There were no employees whose annual remuneration was more than £60,000.		 2025
Number
-		 2024
Number
-

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

11 Taxation

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

12 Investment property

Investment property
2025
£
Fair value
At 6 April 2024 and 5 April 2025 180,790

The valuation was made by trustees on an open market value basis by reference to market evidence of transaction prices for similar properties.

13 Debtors

2025 2024
Amounts falling due within one year: £ £
Trade debtors - (75)

THE RABBI SOLOMON D SASSOON MEMORIAL FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

14 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2025 2024
£ £
Accruals and deferred income 780 1,260

15 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 6 April Incoming Resources At 5 April
2024 resources expended 2025
£ £ £ £
General funds 185,280 33,979 (36,268) 182,991
Previous year: At 6 April Incoming Resources At 5 April
2023 resources expended 2024
£ £ £ £
General funds 179,441 18,517 (12,678) 185,280

16 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).