Chanty Re￿￿*tiOn No. 298616 THE BRANDON ENDOWMENT TRUSTEES, REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2025 THE BRAiYDON ENDOWMENT CONTENTS Pa Report of the TTUStee5 Independent Examiners, Report Statement of Financial Activiti Balan¢e Sheet Notes to the Accounts &9 THE BRANDON ENDOWMENT TRUST INFORMATION Trustee$: F Martin Miss S Dangoor R Mizrabi {Chairn]an) Treasurer Registered Number: 298616 Princlpal Address: 6 Priory Field Drive Edgware Middlesex HA8 9PU Investment M4Dagers: Walker Crips Stockbrokers Ltd Old Change House 128 Queen Victoria Street London EC4V 4BJ Independent Ex*miner: Berish Hoffman FCA Laudau Morley LLP 325-327 Oldfield Lane North Middlesex United Kingdom UB6 OFX Bankers: Lloyds Bank PIC 40 Ros51yn Hill Hampstead London NW3 INL THE BRANDON ENDOWMENT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2025 The Tn￿te£S prc5¢ni theirr¢port and o¢counts fw the year ¢nd&l 31 October 2025. The accounts have preportsl in a¢¢ordancc with the ￿¢0￿11￿8 policies sel Out in nok I ￿ the accounts and comply with the charity's governiTLg docum￿( the Clwititt Act 2011 and the Stat¢ment of ReGommcnd¢d PracticA applicabl¢ to ¢hariti¢s preparing their acco￿ts in accordance with th¢ Financial Reportiug Standard applicabl¢ in the UK and R¢publi¢ of Ire]and IFRS 102) leffectiv¢ from l )8Duary 20191. Constltutlo The Endowment was se¢ up by Deed of Appointment dated 8 1985. suppl¢metttal to att earli¢r settlein¢ni of 24 April 1962. On 31 December 2013. th¢ two Tmining b¢nefJciari¢s of the Ernest Brandon Will Tn￿t namely Simtsn Brandon and Rachel Brandon gave up their rights te life income to the estste by Si￿1118 a distribution indemnity and t¢Tmittation agreemertt and Accepting i lump sum pa￿￿¢￿1, thereby the capital remainin8 in th¢ Will tntsi was paid over to the Brandon Endowm¢nt. Objects ol the charity The Capital of the Twst is pemi8nently Th¢ Incom¢ is to b¢ appli¢d &$ follows: Towards the rep8iT. upke¢p maiDtenaThc¢ of the SY￿&808￿¢ of Bevis MJTks in th¢ city of Lottdon (I￿re1n&fi¢T tall¢d the-SyJa8ogu¢"l so 10ts8 as the sam¢ slwll temtiiti opell foi publi¢ worshipj To assist and fiuther tIL¢ general religious and ulucaiioJJal a¢tivitiG8 of tbe Cow¢gatiou of the Syoa8og includin8 Wlthollt prejudice to th¢ 8enerality of thc foregoin8 the maintettattcc of classroDo)s and the provision of fi￿ni￿)re. iKX)ks and any rther type of 4uipment to fiJrth¢r 5u¢h activiti&s.' To make ￿ants to the followiJJg so¢ieiies'.- (a} The Spanish & PornJgu¢se Jews, Home for the Apj. (b) Th¢ Judith LAdy Monteflore Collcgc in kndon., {cl The Spanish & Portugu¢5e Juvs, Board of Guardians of th¢ P(K)r (now known as the Spfjnish & Pomiguese SyiJa8ogue Welfare BO￿}. iv) To make 5ueh to 5udJ other digible cort8regatiortal socidies or for $uch other religious purFA)ses a5 th¢ TDJst¢es ill th¢ir discr¢tiott may thiJ)k fit. AehleveThÈttts perfom*n¢e During the yeBr, the ¢lwity paid out 6 wts, totslling £78.735 (2024.. 7 8rant4 totalling £62,667). With the ryL8 provided. B¢vis Mgrks bas able ￿ coThtitiue providitig smic¢s to the att¢udees of the S)￿agogue ss well as help maintain tbe structure of the buildins. Flnan¢i81 Revltw tor the year The Statement of Financial Activities shows incomin8 T¢w￿CeS of £78,623 12024.. £81.6031 and outgoing resourc¢5 of £91,656 12024: £73,703}. In addition there w¢re oth¢r ￿08￿]Sed 8aiDS of £102,(M)012024'. wn5 of £79,972). biic Benefit St8temtnt The tr￿lee5 have Gomplied with th¢ir duty in the Charities Aet 2011 to bav¢ due r¢wd to 8llidaDce published by th ch￿lty Commission. Page1 )N Pilli(! fLX4WtLX'* In ih. 4rf 141 i%￿l¥lL￿b￿l 11 I)SL v4•2 THE BRANDON ENDOWMENT INDEPENDENT EXAMINER'S REPORT TO THE USTEES IF THE BRANDON ENDOWMEIYT I report to the trustees on my cxamination of the ￿COUnt5 of The Brandon Endowment (the charity) for the year ended 31 O¢¢ober 2025. RespoDslbi]ities 8nd b¥sl¥ of report As th¢ trustees of the charity y¢iu are responsible for the preparation of the accounts iti accorda￿¢ with the requirem¢tits of the Charities Act 2011 (th¢ 2011 Act). I report in respect of my examination of the charit￿8 accounts carried ov¢ UTJder Section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under Section 145(5}(b) of the 2011 Ac¢. IndependeNt ex*miner'$ statement Your attentiQll is drawn io the fact that the charity has prepared f￿a￿tal st8iements in accordance with Ac¢ountlll8 and Reporting by chariti￿ preparing their a¢oounts in accordanc£ with the Financial Reporting StaDdard applicable in tbe UK and Republic of Ireland (FRS 102) in preference to the A￿OUnting and Reportsng by Charit&es: stalen￿At of Recomended Praciic¢ i&sued OTr l April 2005 which is referred io in the extant regulations but has [￿W been wiihdrawll. l understand that this has been done in order for the fllkancial statements to provide a trne and fair view in accordanc¢ with the Generally Acc¢pwl Accountit]g Pr￿tice effectiv¢ for r¢porting periods b¢8inning on or after l January 2020. I have Completed rny examination. I confm that no matttrs have come to my att¢ntion in conttec¢ion with the examination givillg me cause to believe that in 8ny maierial respe¢t: accounting ￿ordS werc not kept Sn respect of the ¢harity as required by section 130 of the 2011 Act" or the accounts do not accord with those records,. or the ac¢oun¢s do not comply with the applicable requirements concerning th¢ form content of accounts S¢t oui in the Charities (Accounts aDd Rwrt) Regulations 2008 other than any requirements that the accourtts give a true and fair view which is not a matter considered as part of an independent examination. I have tx) ¢ollcerns and have come across no oth¢r matters in connection with the examniation to which attention sI￿uld be thawll in this report in order to enable a proper understanding of th¢ ac¢ounts to be reached. Berish ffman FCA Landau Morley LLP 325-327 Oldfield Lane North Middlesex UB6 OFX United Kingdom Pk8e 3 N ENDOWMENT STATEMENT F FINANCIAL A R THE YEAR ENDED 31 OCTOBER 202 202 Endo Fund5 2024 trlcte nrestri otes Fund fro 81,603 TnVesthl￿ts Oth¢rinco]lle 78.395 228 78,395 228 81,603 81,603 81,603 Total Ch*rltllble *¢tlYlllt6 Syna8oBu¢ m*intellan¢< reiiwous and tyjucotion 79,332 12,324 91.656 64.797 73,703 Tothl eXP¢DdlbJr¢ 79.332 12,324 8,906 73.703 16.806 18.9Q6} 7,900 Net Iwiendithr¢l for tbe ye*r 1709) 112J24} 113.03Jl Oth¢r Re¢oEnts¢d Gsjns and PTrrIt￿(lossW} on investtnenl a$8¢ts insll10s5es}on revBluation of inve5trntts¢s 5,719 96281 5.719 96281 68.447 68.447 79.972 79,972 Totsl Rt¢O8nlxd 102,000 102.000 71.066 87.8n Net Movtwtntill Fllllds for thÈy¢Ar (7091 89.676 88.967 1&806 1.629,652 1.823,488 177,030 1.558,586 1,735,616 Totslfunds bmu8h¢forwaTd 193.836 Tot*1 fvnds tArrlvJ forward 193 127 1.719,328 1.912,455 193.836 1.629.652 1,823 488 Page 4 K'll 41.lt h￿. i C uri¢￿1 bl*prvW*IIIiK'. IhL S¢(iulli> iPPT¢I%i d b¥ 11)k I I)11 .iThl i?Yk Il1&S1 b¢luli D%- L'L1'.:1Tal) THE BRANDON ENDOWMENT NOTES TO THE A COUNTS FOR THE YEAR ENDED 3 CTOBER 21125 I. ACCOUNTING POLICIES Bath Of prepar•tlon The fIt￿n￿l01 sta*ments iMvebe¢n pr¢wed in a¢coT¢Jan¢¢with th¢ Cbariti¢5 Act 2011 and"A¢¢ounting and Reportin8by ChHriti¢s.' St8tetti¢ntof R￿QMme1)ded Practi¢e applicabk to cbariti¢s prepa5ing th¢ir a¢¢owits iti a¢¢ordan¢e withth FiJwLcial Reporting StAndatd applicable in the UK and Republi¢ of Irtiand IFRS 102)- (effrfti￿ l January 20191. The charity is Publi¢ BenefJtEntity as defitLed byFRS IO2. A¢couLtingconYeDtIo Th¢ f)[￿0¢131 Stat￿￿DL% knav¢ dep￿rt￿ froth the gppiitsble Fegaia¢iow oll]y￿ the extent wuired to ￿ve a tyue and fair view. This departu￿ h&% involved following th¢ Statement of Rttommertded PA¢tice above yatherthaD th¢v¢tsion which 1$ r¢f¢ntsl to in th¢ regulari¢)ns bui which h&¥ SiDCe be¢n withdrawn. The 8e¢ounts hav¢be•) Prep￿￿1￿￿ the histyiGal cwt I￿%1￿ modifi￿￿ llKlude¢erlairJ financial instrutnajts 81 fatr value. Chorfthble UDrestrI¢1￿j fiLnds are #v8i]abb for useot the di%creiLon of theTn￿ in furtbu8nce of theLT th￿lIab￿ obJ￿tiV¢S. Endowmcnt fillKLs aTe subj¢Gt ¢0 specific eojmlitions by don0￿ th&t the capita] must be maintaincd bythc trusL IDvestm¢LI ID¢Olrte All ujcome is reco￿lsed oncethe ¢bTityh8s eutiti¢n)¢ntto th¢ incotn¢. thete is $uffi¢ieki ¢ert#itity of r#eipt4nd so it is prob&bJe that the income willbe rec¢ivd. aodthe amount of ill¢owe call btmeasuTed reliably. w¢sthJtht incottLe bett) I￿hId￿ tothe extCDtthat li arises on the fixul as&eT inve5thKntsbeld duringthttyw. Ch•rlt*bk EIptndlthrt chan￿b]e expwdibjre ¢0Mpri￿ all exp¢nditsre dirayrelatiD8 ¢0 the objectivtt of th¢ Cl￿rity. Exwditure is wcoutttoj for on an ￿¢￿￿15 bask8 and is r¢cognised when the￿ is a le8al OTeonslnLCtive obligation lo pay. All expeDses. including support 8ov¢rnan¢¢ costs. are lllloca￿ to the one charitrble activity in the stslementof financial ￿￿1vIti¢5. GovernsLte Costs Governancecosts LD th¢¢uTmi aDd rt]at¢ ts> accounl&n¢y feas ￿ld Loth¢ChaTitys of Indcpend¢At Examine[& Support Costs Support costs itL¢hth se¢t¢tsrial fec& awountatKy fees and oth￿ TebtrA costs for the manllgan¢nt and admiDistsation of th¢ dwity aLd baveb¢en all£¢at¢fj toth¢¢knitabl¢ activiiies towbich thcyr¢ialeto. PayllL¢tst to Tru$t The Trustee5 do not r&eiv¢ any remwieTrtion orany reimbuT5CllMi of expen5¢ Page 6 THE BRANDON END WME NOTES TO THE A co S FOR THE YEAR ENDED 31 OCTOBER 2025 I. ACCOUWTING POLICIES (eontlnutdl Debtors Trdde andother d¢b￿rS aT¢T&O8nisvJ atth¢ settlem¢nt amowLt dueafter any tra(k discowits offered a￿] provi510n fot bad 4nd doubtful debts. Prepayments are vaiud ￿ th¢ amount prepaid Del of any tsade discounts due. Cash at bank attd ID hand Cath at bank al￿ in hand includes and shon twtn highly liquid illves¢m¢nts wth 8 6hortm4ti￿iry of three JTh)tLths or l¢ss froTtL the date of a¢quisition or OP¢Dingof the deposit or sirtLiiar accoimt. IDvestDxents Fixed asset investjjxents are repT¢senitd on the baiart¢e shttt ai nwketvalue. Swpluses ordeficits OD valuatii)n 8t￿ sales of investLn¢nts ar¢ ¢rediled or ¢h8rg¢d sn th¢ Sta*mfflt of FiN￿la1 Activities. Creditors Cr¢ditors Rre rtto8nised where the Charityhas awesent obligation Tesulting from a past¢vetttthat will probablyr¢8uIt i the transfer of funds to a third pwand ¢he atnouni due to s¢ttle the obligation ¢attbe measurcd or estimattrj r¢Jiably. CrediLoA ar¢ nom￿llY reco￿lsed attheir 5rttiement otts)un¢ Ifter 8llowmg fot ally tradB di8counts du¢. Fund $truclurt Unr¢5tricifd flltth aye av4ilAble to spend on activiti&8 thlt fiJrth¢r ally octhe Pu￿0$eS of the ch￿lty. Endowment fi]ttd8 ar¢ subj¢d to sp¢¢ifLC ￿nditiODs by doDI)rs that thetapit&l must be maititaincdbytht ctwity. Poll¢y and Pro¢edurt$ S&fe8uArdith8.Thish85 been adopied from the CharityCot))mission fjuiddD¢¢. Seri¢)us incideniT¢POrting-This iw beul adopted from thc Charity CommiBsion fjuidartc¢. Irtttxnal risk TDatt8gotMt-The T￿￿tets have apoli¢yin place to ¢nsutt CO￿#1pr[￿eduTcs ttre carried out befor¢ a 8rant 18 paid Tn￿(￿8 conflicts of int¢Tesi-Any ¢Olltlirtof int¢r&%t Mustbed￿lart ]]) writin& at th¢ earliestp(kssibl¢ mom¢nl. lttvestiDg charity fithThe Charity ￿ an Inveslmentmanager from awejl known ¢ompany ro tnake the iftvestmts. Bi-anllual meeiings h¢ld with the Invegtsnent Malu￿rt0 tnonitor the investtDents and to agree poliry Changes. En8aging iti poJitiC81 activi￿The Cbatity does ¢D8age in ￿Y p)litiU] activity VA￿ts0¢y￿. Bullying and harass[￿Tri-TheC￿0[ity hLs adopt¢dthepoli¢yof Tepotting from a related Cl￿ty. nNmely Sp&ni5h & PortU8uese Jews Synagogue. Social Media- Th¢ Charity does not us¢ siKial muiia to pr￿otr Its •¢tiviues. Onlinc communi¢ation5 betw¢¢n trusteA is co[￿tlYbe1llg review&S. In the unlikelyev￿t of an ijrtexp¢cod social mcdia atta¢k, the Chairman will coJ)sult with the on to reswnd. Engawg External Swkexs.The ChaTitydoe5 not engage txtfflmi speakers. Tn￿leeTr9iII}tig-The Charity will partL¢iPate with a r¢lated Ch￿lty. naTttelySpoLish & PortU8ue8¢ J¢ws' Synagogu¢p to Provide training. Pagg 7 THE BRANDON E WMEN TE THEA COUNTS FOR THE YE NDED OCTO R202 IQ25 F￿ 2. INCOM&FROM INVESTMENIS 81￿3 81,(q)3 tnv¢stsrteni incoTht 78.395 n8 78J95 228 78.623 Cb*tlliWÈ*¢dviU 612D24.. 71 Spanish &PortUgu￿sY￿￿IX-Tl>Watth Bovi$ Mwkg S￿80￿ Rabbis SBlary 37.5(M) 3Q,th) 3?Joo Sp•nish &ForwguQS¢ s￿￿￿¢.TO￿#rts B¥cnts'CWuLwJr Be￿5 m￿kS F&¢iliti¢s MÈny Be￿s MarksHeriw FoundJtiOO 10.5 25,00 235 3JOO 2JS 3,500 B¢wsMths LadyMd>w Suvice B¢vis MarksDefrntt Furtd agli￿￿ted¢VeIW￿I￿lthftcX1 toth¢ Synago8ue 15mO 1S.fjOD 10. Iwo 1,667 10.0 B¢v>s Vi5ltorsPro B¢vi5 MatksS¢curity 1.667 1.0 9,656 Suppryt cOSts1s¢en¢Ae Jlallthl Gove[ts￿tt C455tslstert 3181 bElowl 212 385 750 1 540 ￿80 8.906 79 31al.SUPPORT cosrs In￿re￿Ch￿tIts￿ExpeTrditsre AwutttawehaTg¢ tnYc5ttn¢nt 750 212 638 850 750 212 750 The W¢[D&K¢￿Itsb]I8Dte of£is4012024: £1JB0lTr￿ w ￿P￿eX￿￿tiOn fe