CHARITY REGISTRATION NUMBER: 296981 CHESED CHARITY TRUST Unaudited Financial Statements 28 February 2025 G A HARRIS & CO LIMITED Chartered accountants Brulimar House Jubilee Road Middleton Manchester England M24 2LX CHESED CHARITY TRUST Financial Statements Year ended 28 February 2025 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Statement of cash flows Notes to the financial statements CHESED CHARITY TRUST Trustees, Annual Report Year ended 28 February 2025 The trustees present their report and the unaudited financial statements ofthe charity for the year ended 28 February 2025. Reference and admlnlstratlve detalls Registered charity name CHESED CHARITY TRUST Charlty reglstratlon number 296981 Principal office 71 Bridge Lane London NW110EE The trustees P Toba H Wosner L M Halpern Independent examiner Gary Harris Brulimar House JLJbilee Road Middleton Manchester England M24 2LX Structurey governance and management The charity is controlled by its goveming document, a deed of trust, and constitutes an unincorporated charity. New Iruslees are inducted into the workings of the charity by the existing trustees. The trustees administer the day-lo-day affairs of the charity. Al trustees give their time voluntarily and receive no benefits from the charity. None of the Iruslees have any beneficial interest in the charity- Objectives and activities The objects of the charity are to further those purpose recognized as charitable by English law. the charity recieves income mainly from charitable donationswhich it utilises in the provision of grants and donations lo the poor and needy. The charity also makes distribution of food to the poor and needy through ils Pesach project. Achievements and performance Income from donations aggregated 2980,770 {2024.. £920,485ltolal grants given aggregated £125,730 12023. £331,743) CHESED CHARITY TRUST Trustees, Annual Report (contlnued) Year ended 28 February 2025 Financial review During the year the charities incoming resources exceeded the outgoing resources. The trustees are satisfied with the results for the year. As at 28th February 2025 the charity had unrestricted funds of £264,77112024'. £294,457} The trustees, annual report was approved on 23 December 2025 and signed on behalf of the board of trustees by.. L M Halpern Trustee CHESED CHARITY TRUST Independent Examiner's Report to the Trustees of CHESED CHARITY TRUST Year ended 28 February 2025 I report lo the trustees on my examination of the financial statements of CHESED CHARITY TRUST I the charily'l for the year ended 28 February 2025. Responslbllltles and basls 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'lhe Act'l. I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examiner's statement Since the charity's gross income exceeded £250,000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am member of the Institute of Chartered Accountants in England and Wales IICAEW), which is one of the listed bodies. I h8ve Completed my examination. I confirm that no material matters have come lo my attention in connection with the examination giving me Cause to believe that in any material respe¢l' accounb'ng records were not kept in respect of the charity as required by section 130 of the Act", or the financial statements do not accord with those records," or the financial statements do not comply with the applicable requirements concerning the form and content of aecounts set out in the Charib'es IAecounls and Reports) Regulations 2008 other than any ￿qUirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. 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. Gary Harris Independent Examiner Brulimar House Jubilee Road Middleton Manchester England M24 2LX 23 De￿mber 2025 CHESED CHARITY TRUST Statement of Financial Activities Year ended 28 February 2025 2025 Unreslricled funds Total funds 2024 Total funds Note Income and endowments Donations and legacies Charitable activities 980,770 7,500 980,770 7,500 920,485 44,162 Total Income 988,270 988,270 964,647 Expenditure Expenditure on charitable activities Total expenditure 1,018,456 1,018,456 941,678 1,018,456 1,018,456 941,678 Net lexpenditurellincome and net movement in funds {30,1861 130,1861 22,969 Reconciliation of funds Total funds brought forward Total funds carried forward 294,457 294,457 271,488 264,271 264,271 294,457 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Th8 notes on pages 7 to 11 form part of th8s8 financial staternènts. CHESED CHARITY TRUST Statement of Financial Position 28 February 2025 2025 2024 Note Current assets Stocks Debtors Cash at bank and in hand 41,500 92,000 397,211 2,100 100,621 268,896 10 530,711 371,617 Creditors.. amounts falling due within one year Net current assets 11 266,440 77,160 264,271 294,457 Total assets less current liabilities 264,271 294,457 Funds ofthe charity Unreslricled funds 264,271 294,457 Total charity funds 12 264,271 294,457 These financial statements were approved by the board of trustees and aulhorised for issue on 23 De￿rnber 2025, and are signed on behalf of the board by.. L M Halpern Trustee Th8 notes on pages 7 to 11 form part of th8s8 financial staternènts. CHESED CHARITY TRUST Statement of Cash Flows Year ended 28 February 2025 2025 2024 Cash flows from operating activities Nel lexpendilurellincome 130,1861 22,969 Changes in.. Stocks Trade and other debtors Trade and other creditors 139,4001 8,621 189,280 19501 128,820 1118,5601 32,279 Cash generated from operations Nel cash from operating activities 128,315 128,315 32,279 Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 128,315 268,896 32,279 236,617 397,211 268,896 Th8 notes on pages 7 to 11 form part of th8s8 financial staternènts. CHESED CHARITY TRUST Notes to the Financial Statements Year ended 28 February 2025 General information The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 71 Bridge Lane, London, NW11 OEE. Statement of Compllance 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 lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Charities Act 2011. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured al fair value through income or expenditure. The financial stslements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Fund accounting un￿St[leted funds are available for use at the discretion of the Iruslees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular futu￿ project or commitment. 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 sub-classes.. reslricled income funds or endowment funds. CHESED CHARITY TRUST Notes to the Financial Statements (conllnued) Year ended 28 February 2025 Accounting policies (conllnuedj Incomlng resourees All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., il 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 entillement to the gift, receipt is probable and its amount can be measured reli8bly. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical lo measure reliably, in which case the value is derived from the cost lo the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when reTrived if the value can be reliably measured. No amounts are Included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for il lo be spent on a particular purpose and returned if unspent, in which case il may be regarded as reslricled. 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 lo which it relates.. expenditure on raising funds includes the costs of all fundraising aclivilies, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further ils charitable aims for the benefit of its beneficiaries, including those support costs and costs relating lo the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related lo raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that aclivily. Shared costs are apportioned be￿een the activities they contribute lo on a reasonable, justifiable and consistent basis. Stocks stocks are measured at the lower of cost and estimated selling price less costs lo complete and sell. Cost Includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock lo its present location and condition. CHESED CHARITY TRUST Notes to the Financial Statements (conllnued) Year ended 28 February 2025 Accounting policies (conllnuedj Flnanclal Instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured al the cash or other consideration expected lo be paid or re￿iVed and not discounted. Debt instruments are subsequently measured al amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured al cost less impairment. Other financial instruments, including derivatives, are initially recognised al fair value, unless payment for an asset is deferred beyond normal business terms or financed al a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted al a market rate of interest for a similar debt inslrumenl. Other financial instruments are subsequently measured al fair value, with 8ny changes recognised in the statement of financi818Ctivities, with the exception of hedging instruments in 8 designated hedging relationship. Financial assets that are meaSU￿d at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting dale. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characlerislics. Any reversals of impairment are recognised immediately, to the exlenl that the reversal does not result in a carying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Donations and legacies Unreslricled Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donations Donations 980,770 980,770 920,485 920,485 CHESED CHARITY TRUST Notes to the Financial Statements (conllnued) Year ended 28 February 2025 Charitable activities Unreslricled Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Pesach project 7,500 7,500 44,162 44,162 Expenditure on charitable activities by activty type Activities undertaken direcuy Support Total funds costs 2025 Total fvnd 2024 Charitable activities Governance costs 1,017,736 1,017,736 720 940,958 720 720 1,017,736 720 1,018,456 941,678 Independent examination fees 2025 2024 Fees payable to the independent examiner for.. Independent examination of the financial statements 720 720 Staff costs The average head count of employees during the year was Nil12024". Nill. No employee received employee benefits of more than £60,000 during the year12024.' Nill. Trustee remuneratlon and expenses There was no trustees, remuneration or other benefit for the year ended 28th February 2025 nor for the year ended 29th February 2024. 10. Debtors 2025 2024 Trade debtors Other debtors 40,000 52,000 48,180 52,441 92,000 100,621 10 CHESED CHARITY TRUST Notes to the Financial Statements (conllnued) Year ended 28 February 2025 11. Creditors- amounts falling due within one year 2025 2024 Trade creditors Other creditors 1,440 265,000 17,160 60,000 266,440 77,160 12. Analysis of charitable funds Unrestricted funds Al 1 March 202 At 28 February 2025 Income Expenditure General funds 294,457 988,270 11,018,456) 264,271 Al 1 March 202 At 29 February 2024 Income Expenditure General funds 271,488 964,647 {941,6781 294,457 13. Analysis of net assets between funds Unrestricted Total Funds Funds 2025 Current assets Creditors less than 1 year Net assets 530,711 (266,4401 264,271 530,711 1266,4401 264,271 Unrestricted Total Funds Funds 2024 Current assets Creditors less than 1 year Ngt assets 371,617 177,1601 294,457 371,617 177,1601 294,457 11