**Charity registration number 299297 (England and Wales)** ## **SLAVIN FOUNDATION** # **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **SLAVIN FOUNDATION** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** Mr B Slavin Mrs J Slavin Mr L Slavin **Charity number** 299297 **Independent examiner** Taylor Associates 1st Floor Gallery Court 28 Arcadia Avenue London N3 2FG ## **SLAVIN FOUNDATION** ## **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 - 11| ## **SLAVIN FOUNDATION** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ The Trustees present their annual report and financial statements for the year ended 31 March 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 Foundation's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". ## **Objectives and activities** The Foundation's objects are to advance funds for general charitable purposes with emphasis on the furtherance of Jewish charities and education. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Foundation should undertake. ## **Achievements and performance** The Foundation's income for the year was £115,693 (2024: £56,411). The Trustees are pleased to report that the Foundation made donations to various charities amounting to £44,400 (2024: £41,240) in the year. The net surplus of £52,840 (2024: deficit of £19,636) was transferred to accumulated funds. ## **Financial review** The trustees can report that the foundation has made donations during the year totalling £44,400 (2024: £41,240) and hope to increase donations In future years. The Trustees' policy is to operate on the basis of being able to continue to generate sufficient incoming resources to maintain reserves at a level sufficient to use towards meeting its charitable objects and to accord with its principal aims. The Charity has sufficient, but not excessive, funds to maintain its current level of charitable distributions, and has achieved its reserves policy. Income tax recoverable in relation to donations received under. Gift Aid or deeds of covenant is recognised at the time of the donation. It is the policy of the Foundation 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 consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Foundation’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. The Trustees have assessed the major risks to which the Foundation is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Structure, governance and management** The Foundation was established by a charitable trust deed on 16 November 1987 and registered with the Charity Commission under charity number 299297. The Foundation changed its name to The Slavin Foundation as per the amended deed dated 23 June 2017. The Trustees who served during the year and up to the date of signature of the financial statements were: Mr B Slavin Mrs J Slavin Mr L Slavin - 1 - ## **SLAVIN FOUNDATION** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ The appointment of the trustees is governed by the Trust Deed. Their position as Trustees is unremunerated and no Trustee had any beneficial interest in any contract with the Foundation during the year. ## **Statement of Trustees' responsibilities** The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The Trustees' report was approved by the Board of Trustees. ## **Mr B Slavin** Trustee Dated: 28 January 2026 - 2 - ## **SLAVIN FOUNDATION** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SLAVIN FOUNDATION** I report to the Trustees on my examination of the financial statements of Slavin Foundation (the Foundation) for the year ended 31 March 2025. ## **Responsibilities and basis of report** As the Trustees of the Foundation 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 Foundation’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** 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: - 1 accounting records were not kept in respect of the Foundation as required by section 130 of the Charities Act 2011. - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached. ## **Taylor Associates** 1st Floor Gallery Court 28 Arcadia Avenue London N3 2FG 28 January 2026 - 3 - ## **SLAVIN FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2025**|**2024**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Donations and legacies|**3**|81,250|25,000| |Investments|**4**|34,443|31,411| |**Total income**||115,693|56,411| |Charitable activities|**5**|53,781|62,783| |Net losses on investments|**8**|(9,072)|(13,264)| |**Net income/(expenditure) and movement in funds**||52,840|(19,636)| |**Reconciliation of funds:**|||| |Fund balances at 1 April 2024||734,165|753,801| |**Fund balances at 31 March 2025**||787,005|734,165| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 4 - ## **SLAVIN FOUNDATION** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2025**_ |**Notes**
**Fixed assets**
Investments
**11**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
**Net current assets**
**Total assets less current liabilities**
**The funds of the Foundation**
Unrestricted funds
**14**|**2025**
**£**
38,114
27,114
65,228
(5,102)|**£**
726,879
60,126
787,005
787,005
787,005|**2024**
**£**
20,382
37,241
57,623
(12,390)|**£**
688,932
45,233| |---|---|---|---|---| |||||734,165| |||||734,165| |||||734,165| The financial statements were approved by the Trustees on 28 January 2026 Mr B Slavin **Trustee** - 5 - ## **SLAVIN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** ## **Charity information** The Slavin Foundation is an unincorporated charity. Charity Registration Number 299297. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Foundation's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The Foundation is a Public Benefit Entity as defined by FRS 102. The Foundation has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows. The financial statements are prepared in sterling, which is the functional currency of the Foundation. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. ## **1.3 Income** Income is recognised when the Foundation 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 Foundation 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. ## **1.4 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. - 6 - ## **SLAVIN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** ## **(Continued)** Expenditure is recognised on an accruals basis. Overheads and other costs not directly attributable to particular functional activity categories are apportioned over the relevant categories on the basis of management estimates of the amount attributable to that activity in the period, either by reference to staff time or space occupied as appropriate. Costs of generating funds are those incurred in attracting voluntary income, and those incurred in trading activities that raise funds: Charitable activity costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating management and human resources costs by the · number of staff, and finance and IT costs by work done. Governance costs include those incurred in the governance of its assets and are primarily associated with constitutional and statutory requirements. Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity. ## **1.5 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **1.6 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks. ## **1.7 Financial instruments** The trust has elected to apply the following: ## _**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. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. - 7 - ## **SLAVIN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **2 Critical accounting estimates and judgements** In the application of the Foundation’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|81,250|25,000| |**4**|**Investments**||| |||**Unrestricted**|Unrestricted| |||**funds**|funds| |||**2025**|2024| |||**£**|£| ||Dividend income from listed investments|-|17,292| ||Net interest from investments/interest payable (net)|34,443|14,119| |||34,443|31,411| ## **5 Expenditure on charitable activities** ||**Charitable**|**Charitable**| |---|---|---| ||**Expenditure**|**Expenditure**| ||**2025**|**2024**| ||**£**|**£**| |**Direct costs**||| |Donations paid|44,401|41,240| |Investment management fees and related costs|9,380|21,543| ||53,781|62,783| |**Analysis by fund**||| |Unrestricted funds|53,781|62,783| - 8 - ## **SLAVIN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **6 Trustees** None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Foundation during the year, and no Trustees expenses were paid for by the charity in either the current or proceeding years. ## **7 Employees** The average monthly number of employees during the year was: ||**2025**|**2024**| |---|---|---| ||**Number**|**Number**| |Total|-|-| There were no employees whose annual remuneration was more than £60,000. ## **8 Gains and losses on investments** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|**2024**| |Gains/(losses) arising on:|**£**|**£**| |Revaluation of investments|(9,072)|(13,264)| ## **9 Taxation** The Charity is a registered Charity and is exempt from tax on income and gains to the extent that these are applied to its charitable objectives. ## **10 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. - 9 - ## **SLAVIN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **11 Fixed asset investments** |**Cost or valuation**
At 1 April 2024
Additions
Valuation changes
Disposals
At 31 March 2025
**Carrying amount**
At 31 March 2025
At 31 March 2024
Listed investments included above:
Listed investments carrying amount
**12**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**13**
**Creditors: amounts falling due within one year**
Trade creditors
Other creditors
Accruals and deferred income|**Listed**
**investments**
**£**
688,932
278,419
(10,339)
(230,134)
726,878
726,878
688,932
**2025**
**2024**
**£**
**£**
726,878
688,932
**2025**
**2024**
**£**
**£**
28,750
12,500
9,364
7,882
38,114
20,382
**2025**
**2024**
**£**
**£**
-
7,500
1,052
840
4,050
4,050
5,102
12,390| |---|---| - 10 - ## **SLAVIN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **14 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 1 April**|**Incoming**|**Resources**|**Gains and**|**At 31 March**| |---|---|---|---|---|---| ||**2024**|**resources**|**expended**|**losses**|**2025**| ||**£**|**£**|**£**|**£**|**£**| |General funds|734,165|115,693|(53,781)|(9,072)|787,005| |**Previous year:**|**At 1 April**|**Incoming**|**Resources**|**Gains and**|**At 31 March**| ||**2023**|**resources**|**expended**|**losses**|**2024**| ||**£**|**£**|**£**|**£**|**£**| |General funds|753,801|56,411|(62,783)|(13,264)|734,165| ## **15 Related party transactions** During the year the Foundation received donations of £65,000 (2024: £20,000) from the Trustees Mr B Slavin and Mrs J Slavin. - 11 -