COMPANY REGISTRATION NUMBER . 00711500
CHARITY REGISTRATION NUMBER: 3123122
GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024
COHEN ARNOLD
Chartered Accountants & Statutory Auditor
New Burlington House
1075 Finchley Road
London NW11 OPU

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
CONTENTS
Page
Trustees, annual report (incorporating the directors. report)
Independent auditor's report to the members
Consolidated statement of financial activities (including income and expenditure account)
Parent ststement of financial activities (including income and expenditure account)
10
11
Consolidated statement of financial position
12
Parent balance sheet
13
Consolidated statement of cash flows
14
Notes to the financial statements
15

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES, ANNUAL REPORT
INCORPORATING THE DIRECTORS, REPORT
FOR THE YEAR ENDED 30 JUNE 2024
The trustees, who are also the directors for the purposes of company law, present their report and the financial
statements of the charity for the year ended 30 June 2024.
Reference and administrative details
Registered charity name:
Gerson Berger Association Limited
Charity registration number:
313122
Company registration number:
00711500
Principal office and
Registered Address:
New Burlington House
1075 Finchley Road
London
NW11 OPU
Trustees:
Mr Samuel Berger (Deceased 1 December 2024)
Mrs Sarah Rachel Klein
M. Solomon Laufer
Mrs Zelda Stemlicht
Auditor:
Cohen Arnold & Co.
Chartered Accountants
& statutory Auditor
New Burlington House
1075 Finchley Road
London NW11 OPU
Bankers:
Unity Trust Bank
POBox7193
Planetary Road
Willenhall
VW19DG
STRUCTURE, GOVERNANCE AND MANAGEMENT
GOVERNING DOCUMENT
Gerson Berger Association Limited is a company limited by guarantee governed by its Memorandum and
Articles of Association dated 22nd December 1961 as amended on 9th July 1979 and 9th March 1981.
Appointment Training and Recruitment of Trustees
As set out in the Articles of Association the rnembers of the charity shall not be less than three and exceed
eight. There are two classes of members..
Ordinary Members
membership.
subscribers and all persons subsequently admitted by the Council to
Honorary Members- persons the Council may admit from time to time with written consent.
No person shall be admitted to the membership of the Company as an ordinary member unless:
He has signed and sent to the Secretary an application for admission framed in such terms as
the Council shall from time to time prescribe. and
He has been elected to membership by the Council.
Page 1

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES, ANNUAL REPORT
INCORPORATING THE DIRECTORS, REPORT
FOR THE YEAR ENDED 30 JUNE 2024
continue
STRUCTURE, GOVERNANCE AND MANAGEMENT(continued)
APPOINTMENT TRAINING AND RECRUITMENT OF TRUSTEES (continued)
All current trustees are ordinary members and no honorary members have been appointed. The organisation is
run by the governors (directors) who are the trustees. Every trustee holds office until helshe shall die or attain
the age of eighty or shall cease to hold office by virtue of Article 49 of the Articles of Association.
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 and training procedures.
Employee and Trustee Remuneration
The charity has no staff other than the 4 trustees all of whom give freely of their time and expertise without any
fomi of remuneration or other benefit in cash or kind (2023.. £nil).
The charity did not meet any expenses (2023:£nil) incurred by the trustees for serVI￿S provided to the charity.
GROUP STRUCTURE AND RELATIONSHIPS
The Charity holds the share capital of five subsidiary undertakings, namely Altena Estates Limited, Barryvale
Limited, Fleetguild Limited, Hiltshore Limited and Mirette Investments Limited.
All the subsidiary holdings are engaged in property investment, except for Hiltshore Limited which is a dormant
company, and their results are incorporated in the consolidated financial statements.
Details of the subsidiary undertakings may be found in note 18 to the financial statements.
RISK MANAGEMENT
The trustees have identified and reviewed the major risks to which the group is exposed, in particular those related
to the operations and finance of the charity and are satisfied that systems are in place to mitigate those risks.
FINANCIAL RISK MANAGEMENT AND POLICIES
The group holds or issues financial instruments in order to achieve three main objectives:
a) To finance its operations
b) To manage its exposure to interest and currency risks arising from operations and from its sources of
finance; and
c) To generate funds.
In addition, various financial instruments (e.g. debtors. creditors. prepayments and accruals) arise directly from
the charity's operations.
CREDIT RISK
The charity monitors credtt risk closely and considers that its current policies of credit risk checks meet its objectives
of managing exposure to credit risk. The chartty has no significant concentrations of credit risk. Amounts shown in
the balance sheet represent the maximum anticipated credit risk exposure. It is recognised that systems Can only
provide reasonable but not absolute assurance that major risks have been adequately managed.
Page 2

GERSON BER_GER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES, ANNUAL REPORT
INCORPORATING THE DIRECTORS. REPORT(Conllnued)
FOR THE YEAR ENDED 30 JUNE 2024
OBJECTIVES AND ACTIVITIES
CHARITABLE OBJECTS
The charity is established for charitable purposes only and {without prejudice to the generality of the foregoing
words) in particular to do, perform and carry out all or any of the following acts and things, namely:_
To provide and carry on whether in the United Kingdom or elsewhere, a school or schools where the
pupils may obtain a sound education of the highest order and to provide religious instruction and training
therein in accordance with the doctrines and principles of traditional Judaism-,
To foster education and moral and religious training in accordance with the said principes,.
To provide any accommodation which may be deemed desirable for the pupils attending and persons
employed at any school or schools.,
To give philanthropic aid to the Jewish needy.,
For other purposes as are recognised by English Law as charitable.,
AIMS, OBJECTIVES AND ACTIVITIES FOR PUBLIC BENEFIT
The trustees confirm that they have referred to the guidelines contained in the Charity Commission's general
guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and
setting the grant making policies for the year. In doing so, the charity has complied with its duty to act for the
public benefi't in accordance with section 4 of The Charities Act 2011.
GRANT MAKING POLICY
This charity was established to support the activities of Jewish religious organisations, especially in the field of
education and to provide philanthropic aid to the Jewish needy. Donations are made to organisations providing
a sound religious education in accordance with the doctrines and principles of traditional Judaism and to
institutions set up to provide aid to the Jewish needy, wtth a view to achieving the objects of the charity.
Gerson Berger Association Limited regularly supports charitable organisations and institutions both in respect of
revenue expenditure and capital projects and there has been a continual call for funding for capital projects
together with a concomitant need for increased revenue support.
Applications for grants are made in writing to the charity or in person to the Trustees by other UK registered
Gharities. All donations above £10,000 require approval of all the Trustees and after making the necessary
checks. proportional to the level of funding involved, donations are provided through bank transfer.
INVESTMENT POWERS AND POLICY
Under the Memorandum and Articles of Association, the charity has the power to make any investmentwhich the
trustees see fit, provided that funds so utilised are not immediately required for use in connection with any of its
objects. The trustees regularly review the charity's position and needs in respect of the investment policy.
Page 3

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES. ANNUAL REPORT
INCORPORATING THE DIRECTORS, REPORT
(contlnued)
FOR THE YEAR ENDED 30 JUNE 2024
STRATEGIC REPORT
The group invests in property portfolios and listed investments to generate income with which it makes grants,
donations and loans to other charities and institutions that fall within the objectives of the charity.
ACHIEVEMENTS AND PERFORMANCE
The charity is dependent on the investment income generated by its subsidiary undertakings which have
perfonned similarly to the prior year (see note 6 to the financial statements). £nil (2023.. £30,000) of donations
and legacies were received in the current year from non-group companies, besides the Gift Aid payments from
subsidiary companies which amounted to £2,090,587 (2023:£1,570,500). During the year under review
£2.052,800 (2023: £1,617,200) was distributed in furtherance of the charity's objectives.
FINANCIAL REVIEW
The charity is dependent for its income on the commercial activities of its subsidiaries. During the year, gross
income arising from the commercial activities of the subsidiaries was £4,787,987 (2023.. £4,199,163).
The Charity holds the share capitsl of five subsidiary undertakings. All the subsidiary holdings are engaged in
property investment, except for Hiltshore Limited which is a dormant company. The trustees considertheir results
for the year ended 30th June 2024 to be satisfactory.
KEY PERFORMANCE INDICATORS (KPIS)
The Trustees monitor the Charity's perfomance progress against its strategic objectives and the financial
performance of its operations on a regular basis. Performance is assessed against the strategy and expectations
using financial and non-financial measures. The most significant KPIS used by the charity are as follows:
2024
2023
Grants and donations paid out
Net rental income
Surplus on disposal of investment properties
Dividend income from listed investments
Investment property at fair value
Listed investments at fair value
2,052,800
2,959,539
1,206,140
31,702
45,912,959
453,038
1,617,200
2.113,069
40,332
43,960,138
551,884
PLANS FOR FUTURE PERIODS
The charity plans on continuing the activities outlined above in the coming years subject to incoming resources
being maintained at a satisfactory level.
RESERVES POLICY
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level
which the trustees think appropriate after considering the future commitments of the charity and the likely
administrative costs of the charity for the next year. The free reserves of the charity, not including the subsidiary
undertakings, are the current assets minus current liabilities. At the year end, the charity had a deficit in reserves
(£17,524) (2023.. (£36,706). The deficit has continued as a result of increased demands for charitable donations
in the year and the Trustees are developing a route to ensure a return to positive free reseNes.
Page 4

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES, ANNUAL REPORT
INCORPORATING THE DIRECTORS, REPORT(GontinuedJ
FOR THE YEAR ENDED 30JUNE 2024
TRUSTEES. RESPONSIBILITIES STATEMENT
The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees,
report and the finance statements in accordance with applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a true and fair
view of the state of affairs of the charitable company and the incoming reSoUr￿S and application of resources,
including the income and expenditure, for that period.
In preparing these financial Statements, the trustees are required to:
Select suitable accounting policies and then apply them consistently.
Observe the methods and principles in the applicable Charities SORP;
Make judgements and accounting estimates that are reasonable and prudent.
State whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained tin the financial statements,.
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the
charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and
enable them to ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
AUDITOR
Each of the persons who is a director at the date of approval of this report COnfi￿S that..
So far as they are aware, there is no relevant audit information of which the company's auditor is unaware.,
and
They have taken all steps that they ought to have taken as a director to make themselves aware of any
relevant audit information and to establish that the company's auditor is aware of that information.
The trustee's annual report (incorporating the directorfs report) and the strategic report were approved on 1 Oth March
2025 and signed on behalf of the board of trustees by:
Mrs Zelda Stemlicht
Trustee
rsol
Trustee
monL
Page 5

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GERSON BERGER ASSOCIATION LIMITED
FOR THE YEAR ENDED 30 JUNE 2024
OPINION
We have audited the financial statements of Gerson Berger Association Limited {the 'parent charitable company,)
and its subsidiaries {the 'group') for the year ended 30 June 2024 which comprise the consolidated statement of
financial activities (including income and expenditure account), company statement of financial activities,
consolidated statement of financial position, company balance sheet, consolidated statement of cash flows and
the related notes, including a summary of significant accounting policies. The financial reporting framework that
has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS
102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally
Accepted Accounting Practice).
In our opinion the financial statements..
Give a true and fair view of the state of the group's and of the parent charitable company's affairs as at
30 June 2024 and of its incoming resources and application of resources, including its income and
expenditure, for the year then ended-
Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice.,
Have been prepared in accordance with the requirements of the Companies Act 2006.
BASIS FOR OPINION
We conducted our audit in accordance with International Standards on Auditing (UK} {ISAs (UK) and applicable
law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit
of the financial statements section of our report. We are independent of the group in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We
believe th8t the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
CONCLUSIONS RELATING TO GOING CONCERN
We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to report
to you where..
The trustees, use of the going concern basis of accounting in the preparation of the financial statements
is not appropriate., or
The trustees have not disclosed in the financial statements any identified material uncertainties that may
cast significant doubt about the charity's ability to continue to adopt the going concern basis of accounting
for a period of at least knelve months from the date when the financial statements are authorised for issue.
Page 6

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GERSON BERGER ASSOCIATION LIMITED
(Continued)
FOR THE YEAR ENDED 30JUNE 2024
OTHER INFORMATION
The other information comprises the information included in the annual report, other than the financial statements
and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the
financial statements does not cover the other information and, except to the extent otherwise explicitly stated in
our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial ststements, our responsibility is to read the other infomiation and, in
doing so, consider whether the other information is materially inconsistent with the financial statements or our
knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether there is a material
misstatement in the financial statements or a material misstatement of the other inft)rmation. If, based on the
work we have performed, we conclude that there is a material misstatement of thi5 Other information, we are
required to report that fact.
We have nothing to report in this regard.
OPINIONS ON OTHER MArrERS PRESCRIBED BY THE COMPANIES ACT 2006
In our opinion, based on the work undertaken in the course of the audit:
The information given in the trustees. report for the financial year for which the financial statements are
prepared is consistent with the financial statement. and
The trustees, report has been prepared in accordance with applicable legal requirements.
MArrERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
In the light of the knowledge and understanding of the group and its environment obtained in the course of the
audit, we have not identified material misstatements in the trustees, report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires
us to report to you if, in our opinion..
Adequate accounting records have not been kept, or returns adequate for our audit have not been
re￿iVed from branches not visited by us; or
The financial statements are not in agreement with the accounting records and returns- or
Certain disclosures of trustees, remuneration specified by law are not made,. or
We have not received all the information and explanations we require for our audit.
RESPONSIBILITIES OF TRUSTEES
As explained more fully in the trustees, responsibilities statement, the trustees (who are also the directors for the
purposes of company law) are responsible for the preparation of the financial statements and for being satisfied
that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable
the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis
of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic
alternative but to do so.
Page 7

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF GERSON BERGERASSOCIATION LIMITED
(Continued)
FOR THE YEAR ENDED 30JUNE 2024
AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities,
including fraud. The extent to which our procedures are capable of detects'ng irregularities, including fraud is
details below..
We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity
through discussion with the trustees and identified financial reporting legislation, landlord legislation and
charity legislation as being most significant to these financial statements.
We communicated these identified frameworks amongst our audit team and remained alert to any
indications of non-compliance throughout the audit. We ensured that the engagement team had sufficient
competence and capability to identify or recognise non-compliance with laws and regulations.
We discussed with the trustees the policies and procedures regarding compliance with these legal and
regulatory frameworks.
We assessed the susceptibility of the charity's financial statements to material misstatement due to non-
compliance with legal and regulatory frameworks, including how fraud might occur, by enquiry with the
trustees during the planning and finalisation stages of our audit and by using proprietary disclosure
checklists. The susceptibility to such material misststement was determined to be low.
Based on this understanding, we designed our audit procedures to identify non-compliance with the
identified legal and regulatory frameworks, which were part of our procedures on the related financial
statement items.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some
material misstatements in the financial statements, even though we have properly planned and performed our
audit in accordance with auditing standards. For example, the further removed non-compliance with laws and
regulations (irregularities) is from the events and transactions reflected in the fi'nancial statements, the less likely
the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit,
there remained a higher risk of non4etection of irregularities, as these may involve Collusion, forgery, intentional
omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-
compliance and cannot be expected to detect non-compliance with all laws and regulations.
Page 8

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF GERSON BERGER ASSOCIATION LIMITED
(Continuedj
FOR THE YEAR ENDED 30JUNE 2024
AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS(ConlinuedJ
As part of an audit in accordance with ISAS (UK), we exercise professional judgement and maintain professional
scepticism throughout the audit. We also..
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud
or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that
is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that
are appropriate in the circumstances, but notforthe purpose of expressing an opinion on the effectiveness
of the intemal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the trustees.
Conclude on the appropriateness ofthe trustees. use ofthe going concern basis of accounting and, based
on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that
may cast significant doubt on the group's ability to continue as a going concern. If we conclude that a
material uncertainty exists, we are required to draw attention in our auditor's report to the related
disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our
conclusions are based on the audit evidence obtained up to the date of our auditor's report. However,
future events or conditions may cause the group to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and events in a
manner that achieves fair presentation.
We communicate with those charged with govemance regarding, among other matters, the planned scope and
timing of the audit and significant audit findings, including any significant deficiencies in internal control that we
identify during our audit.
USE OF OUR REPORT
This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those
matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's
members as a body, for our audit work, for this report, or for the opinions we have formed.
Moshe Broner-cohen (Senior Statutory Auditor)
Date.. 10th March 2025
For and on behalf of
Cohen Arnold
Chartered Accountants & Statutory Auditor
New Burlington House
1075 Finchley Road
London NW11 OPU
Page 9

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2024
2024
Unrestricted Totsl Funds
Funds
2023
Unrestricted
Funds
Notes
Income and endowments
Donations and legacies
30,000
Investment income
5,994,209 5,994,209 4,199,163
TOTAL INCOME
EXPENDITURE
Expenditure on raising funds..
Investment management costs
{1,965,577) (1,965,577) (2,192,911)
Expenditure on charitsble activities
(2,071,405) (2,071,405) (1,632,097)
Taxation
12
(487,261) (487,261) (1,660,230)
TOTAL EXPENDITURE
Fair value movements
13
1,201,154
1,201,154 56,750
NET INCOME AND NET MOVEMENT IN FUNDS
12
Reconciliation of funds
Totsl funds brought forward
24
31,956,015 31.956,015 33,155,340
TOTAL FUNDS CARRIED FORWARD
25
34,627,135 34,627,135 31,956,015
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
He notes on pages 15 to 28 fomi part of theses financlal statements
Page 10

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
PARENT STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30JUNE 2024
2024
Unrestricted Funds
2023
Unrestricted Funds
Notes
Income and endowments
Donations and legacies
2,090,587 2,090,587 1,600,500
TOTAL INCOME
EXPENDITURE
Expenditure on charitable activities
(2,071,405) (2,071.405) (1,632,097)
TOTAL EXPENDITURE
DLI
(LQL4Q&) (￿) (1￿}
Fair value movements
13
2,651.937 2,651,937 (1,167,728)
NET EXPENDITURE AND NET MOVEMENT IN FUNDS
Reconclllatlon of funds
Total funds brought foward
24
31,956,115 31,956,115 33,155,440
TOTAL FUNDS CARRIED FORWARD
25
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
H8 notes on pages 15 to 28 form part of theses financial slatemenls
Page11

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
FOR THE YEAR ENDED 30JUNE 2024
2024
2023
Notes
FIXED ASSETS
Tangible fixed assets
Investments
16
17
4.643
46,365,997
6,191
44,512,022
46,370,640
44,518,213
CURRENT ASSETS
Debtors
Cash at bank and in hand
19
2,178,744
669,991
1,852,266
279,865
2,848,735
2,132,131
CREDITORS: Amounts falling
due within one year
20
(2,571,179)
{3,051,127)
NET CURRENT LIABILITIES
277,556
(918,996)
TOTAL ASSETS LESS CURRENT LIABILITIES
46,648,196
43,599,217
CREDITORS.. Amounts falllng
duo after more than one year
21
(4,662,155)
(4.771,557)
PROVISIONS
23
(7,358,906)
(6.871,645)
NET ASSETS
FUNDS OF THE CHARITY:_
Unrestricted funds
34,627,135
31,956,015
TOTAL CHARITY FUNDS
25
These financial statements were approved by the board of trustees, authorised for issue on
101A March 2025 and are signed on behalf of the board by-
elda S
nllcht
Trustees
Mr Solomon Laufer
The notes on pages 15 to 28 form part of these financial statements.
Page 12

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
PARENT BALANCE SHEET
FOR THE YEAR ENDED 30 JUNE 2024
2024
2023
Notes
FIXED ASSETS
Investments
17
34.644,758
31,992,821
34,644,758
31.992,821
CURRENT ASSETS
Cash at bank in hand
31,943
2,861
31,943
2,861
CREDITORS: Amounts falling
due within one year
20
(49.467)
(39,567)
NET CURRENT ASSETS
(17.524)
(36,706)
TOTAL ASSETS LESS CURRENT LIABILITIES
34,627,234
31,956,115
NET ASSETS
34,627,234
31,956,115
FUNDS OF THE CHARITY:_
Unrestricted funds
24
34,627.234
31.956,115
TOTAL CHARITY FUNDS
34,627,234
31,956,115
These financial statements were approved by the board of trustees. authorised for issue on 10th March 2025 and
are signed on behalf of the board by:_
Zelda Stsrnlicht
Trustees
Mrso
mon Laufer
The notes on pages 15 10 28 fom part of these finanGial Slalements.
Page 13

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024
Note
2024
2023
CASH FLOWS FROM OPERATING ACTIVITES
Net income
2,671,120
(1,199,325)
Adjustments for:
Depreciation of tangible fixed assets
Fair value movements
Dividends, interest and rents from investments
Taxation
Accrued (incomellexpenses
1,548
(1,201,154)
(5,994,209)
487,261
(276,0991
2,063
(56,750)
(4,199,163)
1,660.230
226.862
Changes in..
Trade and other debtors
Trade and other creditors
(326,478)
(164,338)
765 658
Cash generated from operations
(4,852,242)
{2,964,763)
Net cash used in operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends, interest and rents from investments
Purchases of other investments
Proceeds on disposal of investment properties surplus
4,788,069
{652,822)
1206 140
4,199,163
{1,442,251)
Net cash from investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings
(99,002)
(335,782)
Net cash froml{used in) financing activities
NET INCREASE IN CASH AND CASH EQUIVALENTS 390,144
{￿2)
(543,633)
CASH AND CASH EQUIVALENTS
AT BEGINNING OF YEAR
279 847
823 480
CASH AND CASH EQUIVALENTS AT
END OF YEAR
27
27
The notes on pages 15 to 28 form part of these financial statements.
Page 14

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (Continu8dJ
FOR THE YEAR ENDED 30JUNE 2024
GENERAL INFORMATIONS
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 OPU.
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 Stsndard
applicable in the UK and Republic of Ireland (FRS 102) Bulletin 1, (Charities SORP (FRS 102)) and the
Charities Act 2011.
ACCOUNTING POLICIES
BASIS OF PREPARATION
These financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities.
The financial statements are prepared in sterling, which is the functional currency of the entity, rounded
to the nearest whole pound.
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 existen￿ for the foreseeable future. Thus, the
trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The preparation of the financial statements requires management to make judgements, estimates and
assumptions that affect the amounts reported. These estimates and judgements are continually reviewed
and are based on experience and other factors, including expectations of future events that are believed
to be reasonable under the circumstances. Other than those stated in Note 30, there were no material
judgements, estimates and assumptions that affected the accounts reported.
GOVERNANCE COSTS
Governance costs include the cost of the preparation and audit of the financial statements and the cost
of any legal advice to the trustees on govemance or constitutional matters.
TAXATION
The Charity is not liable to direct taxation (Income Tax) on its income which falls within the various
exemptions available to registered charities. As a result, no deferred tax is provided on timing
differences. The Charity is not registered for Value Added Tax (VAT) and is therefore unable to reclaim
any input tax it suffers on its purchase. Expenditure in the accounts is therefore shown inclusive of VAT
where appropriate.
The taxation expense represents the aggregate amount of current and deferred tsx recognised in the
reporting period for the subsidiaries.
Current tax is recognised on taxable income or expenditure for the current and past periods. Current
tax is measured as the amounts of tax expected to be paid or recovered using the tax rates and laws
that have been enacted or substantively enacted at the reporting date.
Page 15

GERSON BERGER.ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 30JUNE 2024
ACCOUNTING POLICIES (Continued)
TAXATION (Continued)
Deferred tax is recognised in respectofall timing differences atthe reporting date. Unrelieved tax losses
and other deferred tax assets are recognised to the extent that it is probable that they will be recovered
against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax 15 measured
using the tax rates and Laws that have been enacted or substantively enacted by the reporting date that
are expected to apply to the reversal of the timing difference.
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 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 Iwo sub-classes: restricted income funds or endowment funds.
INCOMING RESOURCES
All incoming resources are 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.
Income from donated goods is measured at the fair value of the goods unless this is impractical
to measure reliably, in which case the value is derived from the cost to the donor or the
estimated resale value. Donated facilities and services are recognised in the accounts when
received, if the value can be reliably measured. No amounts are included for the contribution
of general volunteers.
Income from contracts for the supply of ServI￿S is recognised with the delivery ofthe contracted
seNice. This is classified as unrestricted funds unless there is a contractual requirement for it
to be spent on a particular pU￿ose and retumed if unspent, in which case it may be regarded
as restricted.
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, 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 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.
Page 16

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STA TEMENTS (Continued)
FOR THE YEAR ENDED 30JUNE 2024
ACCOUNTING POLICIES (Continued)
RESOURCES EXPENDED (Continued)
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 resources. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
bel￿een the activities they contribute to on a reasonable, justifiable and consistent basis.
TANGIBLE ASSETS
Tangible assets are initially recorded at cost, and.subsequently stated at cost less any accumulated
depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at
the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent
accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses, unless it reverses a charge for impairment that has previously been
recognised as expenditure within the statement of financial activities. A decrease in the Carrying amount
of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to the
extent it offsets any previous revaluation gain, in which case the loss is shown within other recognised
gains and losses on the statement of financial activities.
DEPRECIATION
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over
the useful economic life of that asset as follows..
Plant and machinery
25 % reducing balance
INVESTMENTS
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value.
If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or
expenditure.
INVESTMENT PROPERTY
Investment propety is initially recorded at cost, which includes purchase price and any directly
attributable expenditure.
Investment property is revalued to its fairvalue at each reporting date and any changes in fairvalue are
recognised in income or expenditure.
If a reliable measure of fair value is no longer available without undue cost or effort for an item of
investment propety, it shall be transferred to tangible assets and treated as such until it is expected that
fair value will be reliably measurable on an on-going basis.
IMPAIRMENT OF FIXED ASSETS
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount
being estimated where such indicators exist. Where the carrying value exceeds the recoverable
amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at
each reporting date.
Page 17

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (Conlinuedj
FOR THE YEAR ENDED 30JUNE 2024
ACCOUNTING POLICIES {Gontinu8d)
IMPAIRMENT OF FIXED ASSETS (Continu8d)
For the purposes of impairment testing. when it is not possible to estimate the recoverable amount of
an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which
the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes
the asset and generates cash inflows that are largely independent of the cash inflows from other assets
or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is. from the
acquisition date. allocated to each of the cash-generating units that are expected to benefit from the
synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned
to those units.
PROVISIONS
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past
event, it is probable that the entity will be required to transfer economic benefits in settlement and the
amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the
statement of financial position and the amount of the provislon as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at
the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current
best estimate of the amount that would be required to settle the obligation. Any adjustments to the
amounts previously recognised are recognised in income or expenditure unless the provision was
originally recognised as part of the cost of an asset. When a provision is measured at the present value
of the amount expected to be required to settle the obligation, the unwinding of the discount is
recognised as a finance cost in the statement of financial activities in the period it arises and is allocated
to the appropriate expenditure heading.
FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity 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, unless the arrangement constitutes a financing transaction, where it is
recognised at the present value of the future payments discounted at a market rate of interest for a
similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration
expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
ACQUISITIONS AND DISPOSALS OF PROPERTIES
Acquisitions and disposals of properties are considered to take pla￿ at the date of legal completion and
are included in the financial statements accordingly.
LIMITED BY GUARANTEE
The charity is a company limited by guarantee and has no share capital. The liability of each member
in the event of a winding up is limited to £1.
Page18

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (Continuedj
FOR THE YEAR ENDED 30JUNE 2024
DONATIONS AND LEGACIES
Grou
Unrestricted
Funds
Total Funds
2024
Unrestricted
Funds
Total Funds
2023
Donations
Gift Aid received
30,000
30,000
Chari
Unrestricted
Funds
Total Funds
2024
Unrestricted
Funds
Total Funds
2023
Donation5
Gift Aid received
2,090,587
2,090,587
1,600,500
1.600,500
INVESTMENT INCOME
Unrestricted
Funds
Total Funds
2024
Unrestricted
Funds
Total Funds
2023
Income from investment
Properties
Income from other investments
Surplus on disposal of
Investment properties
4,756,367
31,702
4,756,367
31,702
4,158,831
40,332
4,158,831
40,332
1.206,140
1,206,140
5,994,209
5,994,209
4,199,163
4,199,163
INVESTMENT MANAGEMENT COSTS
Unrestricted
Funds
Totsl Funds
2024
Unrestricted
Funds
Total Funds
2023
Administrative expenses
168,749
Investment management costs 1,407,935
Other interest payable
372,454
Finance charges
168,749
1,407,935
372,454
147,149
1,739,006
290,402
147,149
1,739,006
290,402
1,965,577
1,965,577
2,192,911
2,192,911
EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE
Unrestricted
Funds
Total Funds
2024
Unrestricted
Funds
Total Funds
2023
Charitable activity
Support costs
2,052,800
18,605
2,052,800
18,605
1,617,200
14,897
1,617,200
14,897
2,071,405
2,071,405
1,632,097
1,632,097
EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE
Grant funding
of activities
Support
Costs
Total funds
2024
Total Funds
2023
Charitable activity
Governance costs
2,052,800
2,052,800
18,605
1,617,200
14,897
18,605
Page 19

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (Continuedj
FOR THE YEAR ENDED 30JUNE 2024
10.
ANALYSIS OF SUPPORT COSTS
Accountancy
and non-audit
fees Audit fees
Legal
fees
General
expenses
Total 2024
Total 2023
Govemance costs
11.
ANALYSIS OF GRANTS
GRANTS TO INSTITUTIONS
Year to
30th June 24
Year to
30 June 23
Amud Hatzdokoh Trust
Be'er Yitzchok Trust
Bels Ruchel D'satmar (London) Ltd
Congregation Vyoel Moshe D'satmer Charitable Trust
Chasdei Moishe Twst
Chasdei Shlomo
Chevras Mo'oz Ladol
Collel Chibath Yerushalayim, Rabbi Meir Baal Hanes Trust
Craven Walk Beth Hamedrash Trust
Gateshead Talmudical College
Kehal Chareidim Trust
Keren Hatzolo
KYL Central Shul London
United Talmudical Asscociates Ltd
UTRY
Vyoel Moshe Charitable Trust
Yetev Lev London Jerusalem Trust
Yesamach Levav
Y G S Yeshiva Gedola Seminar
Yeshiba Gedoilah Torah Veyirah Ltd
Other donations below £15.000
60,000
18,000
10,000
25,000
15,000
13,200
8,000
31,500
52,000
16,000
15,000
15,000
27,500
4,000
20,000
3,000
10,000
855,000
33,000
20,000
35,000
7,000
19,500
10,000
1.120,000
10,000
10,000
25,000
20,000
10,000
15,000
582 100
2 052 800
555 200
1617 200
Total grants
ANALYSIS OF GRANTS TO INSTITUTIONS:
Advancement of the Jewish Religion
Advancement of Jewish Education
Relief of Povety
Any other charitable purposes
Total
501,665
616,290
489,140
445 705
441,375
454,625
388,910
332 290
12.
TAXATION
2024
2023
DEFERRED TAX:
Origination and reversal of timing differences
Taxatlon
487 261
1660 230
Movements in deferred tax relate exclusively to fair value adjustments to the carrying value of
investment property in the subsidiary undertakings.
Page 20

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 30 JUNE 2024
12.
TAXATION {Gontinued)
There is no charge to corporation tax in the current or preceding year as the subsidiary undertakings
currently donate, by way of Gift Aid, their entire taxable income to their parent undertaking, Gerson Berger
Association Limited.
13.
FAIR VALUE MOVEMENTS
Grou
Unrestricted
Funds
Total Funds
2024
Unrestricted
Funds
Total Funds
2023
Fair value movements:
Investments properties
Listed investments
1,300,000
(98.846)
1,300,000
(98,846)
56,750
56,750
Chari
Unrestricted
Funds
Total Funds
2024
Unrestricted
Funds
Total Funds
2023
Fair value movements:
Subsidiary undertakings
2,651,937
2,651,937
(1,167,728)
(1,167,728)
(2,651,937)
(2,651,937)
(1.167.728)
(1,167,728)
Page 21

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (Conlinuedj
FOR THE YEAR ENDED 30JUNE 2024
14.
NET INCOME
Net income is stated after chargingl(crediting)'.
2024
2023
Depreciation of tangible fixed assets
Non audit fees
Fees payable for the audit of the financial statements
1,548
2,063
36,990
240
15.
TRUSTEE REMUNERATION AND EXPENSES
The charity has no staff other than the 4 trustees all of whom give freely of their time and expertise without
any fom) of remuneration or other benefit in cash or kind (2023: £nil}.
The charity did not meet any expenses (2023.. £nil) incurred by the trustees for services provided to the
charity.
16.
TANGIBLE FIXED ASSETS
Plant and
Machinery
COST
At 1 July 2023 and 30 June 2024
26
DEPRECIATION
At 1 July 2023
Charge for the year
20,011
1,548
AT 30 JUNE 2024
CARRYING AMOUNT
AT 30 JUNE 2024
At 30 June 2023
19
Page 22

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (Conbnued)
FOR THE YEAR ENDED 30JUNE 2024
17.
INVESTMENTS
Listed
Investments
Investment
Properties
Grou
Total
COST OR VALUATION
At 1 July 2023
Additions
Disposal
Fair value movements
551,884
43,960,138
652,822
(1)
1,300.000
44,512,022
652,822
(1)
1,201.154
(98,846)
At 30 June 2024
IMPAIRMENT
At 1 July 2023 and 30 June 2024
CARRYING AMOUNT
At 30 June 2024
At 30 June 2023
All investments shown above are held at valuation.
FINANCIAL ASSETS HELD AT FAIR VALUE
The group's listed investments are shown at market value, which is the mid-market price based on the
London Stock Exchange daily listing at the balance sheet date. The historical cost of the listed
investments at 301h June 2024 is £76,909 (2023: £76,909}.
INVESTMENT PROPERTIES
The group's investment properties comprise residential and commercial portfolios. The fair value of the
investment properties has been arrived at on the basis of a valuation Carried out at 301h June 2024 by the
trustees who are considered to have the experience and expertise required to undertake such an
exercise. The valuation is made on an open market value basis by reference to market evidence of
transaction prices for similar properties in the same location taking account their age and condition.
The historical cost of the investment properties at 30th June 2024 is £16,715,330 (2023- £16,947,947).
Subsidiary
Undertaking
Investments
CHARI
Total
COST OR VALUATION
At 1 July 2023
Additions
Disposals
Fair value movements
31,992,821
31.992,821
2 651937
2 651937
At 30 June 2024
IMPAIRMENT
At 1 July 2023 and 30 June 2024
CARRYING AMOUNT
At 30June 2024
At 30 June 2023
Page 23

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 30 JUNE 2024
18.
INVESTMENT ENTITIES
SUBSIDIARIES
The value of the subsidiary undertaking investments has been estimated by the Trustees by reference to
the underlying net asset value of the subsidiary undertakings.
The historical costs of the subsidiary undertaking investments at 30th June 2024 is £5,102,500 (2023:
£5,102,500).
The subsidiary undertaking investments held at 30th June 2024 are..
Description & Proportion
Of Share Capital
Nature of
Owned Business
Altena Estates Limited
Ordinary
Preference
Ordinary
Ordinary
Ordinary
Ordinary
Preference
1000/0
100%
100%
100/0
100%
100%
1009/0
Propety Investment
Barryvale Limited
Fleetguild Limited
Hiltshore Limited
Mirette Investments Limited
Property Investment
Property Investment
Dormant
Property Investment
The subsidiaries have year ends coterminous with the parent charity and the 2024 figures are disclosed
below..
Company
Number
Turnover
Other
Income
Expendltur8
ProfitlLoss
Altena Estates Limited
01042867
Barryvale Limited
03584191
Fleetguild Limited
02787962
Hiltshore Limited
02788553
Mirette Investments Limited 01024660
80
(2,375)
(529,093)
(932,984)
(2,295)
1,112,281
2,699,410
1,641,374
2,394,712
1,237,682
720.281
80
{600,532)
119,829
Fixed
Assets
Current
Assets
Long term
Liabilities
Net Assets
Liabilities
Altena Estates Limited
2,501,459 1,033,148
(947,004)
Barryvale Limited
14,104,112
558,553
(5.270,679)
Fleetguild Limited
20,570,486
1,591,972 (1,339,222)
Hiltshore Limited
100
5,747
Mirette Investments Limited 9,194,583 5.431,417
(11,995)
(756,858)
(290,633)
2,296,970
11,807,475)
7,584,511
(3,424,944) 17,398,292
(6,148)
7,371,133
{6,498,009)
Page 24

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR_ ENDED 30JUNE 2024
19.
DEBTORS
2024
2023
Trade debtors
Prepayments and accrued income
Other debtors
1,274,750
19,652
884,342
1,273,386
56,062
522,818
52
20.
CREDITORS . AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
GROUP
Bank loans and overdrafts
Trade Creditors
Accruals and deferred income
Social security and other taxes
Other creditors
98,900
11,005
108,576
2,319
2,350,379
88,518
384,675
1.284
2.576,650
2024
2023
CHARITY
Accruals and deferred income
Other creditors
20,712
28,755
10.812
28,755
Bank loans amounting to £98,900 (2023: £88,518) are secured by legal charges over certain of the
individual companies, investment properties coupled with a floating charge over the remaining assets and
undertakings of the relevant companies, with fixed and variable interest rates.
21.
CREDITORS . AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
2023
Bank loans and overdrafts
ANALYSIS OF LOANS
2024
2023
Not wholly repayable within five years other
than by instalments
Wholly repayable within five years
4,167,655
593,400
4,417,557
442,518
4,761,055
(98,900)
4,860.075
(88.518)
Included in current liabilities
Bank loans and overdrafts amounting to £4,662.155 (2023.. £4,771,557) are secured by legal charges
over certain of the individual companies, investment properties coupled with a floating charge over the
remaining assets and undertakings of the relevant companies, with fixed and variable interest rates.
Page 25

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (Confinued)
FOR THE YEAR ENDED 30JUNE 2024
22.
DEFERRED TAX
The deferred tax included in the statement of financial position is as follows
2024
2023
Included in provisions (note 23)
23
PROVISIONS
DEFERRED TAX
(note 22)
At 1 July 2023
Additions
6.871.645
487,261
At 30 June 2024
24.
ANALYSIS OF CHARITABLE FUNDS
UNRESTRICTED FUNDS
At
1 July 2023
Fair value
At
Expenditure movements 30 June 2024
GROUP
Income
General funds
31.956,015 5,994,209
(4.524,243)
1,201,154
34,627.135
At
1 July 2022
Fair value
At
Expenditure movements 30 June 2023
Income
General funds
33,155.340
4,229,113
(5,485,238)
(56,750)
31.956,015
UNRESTRICTED FUNDS
At
1 July 2023
Fair value
At
Expenditure movements 30 June 2024
CHARITY
Income
General funds
31.956,115
2,090,587
(2.071,405)
2,651.937
34,627,234
At
1 July 2022
Fair value
At
Expenditure movements 30 June 2023
Income
General funds
33,155,440
1,600,500
(1.632,079)
(1,167.728) 31,956.115
Page 26

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (Gontlnued)
FOR THE YEAR ENDED 30JUNE 2024
25.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Funds
Total Funds
2024
Tangible fi'xed assets
Investments
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Provisions
4,643
46,365,997
2,848,735
{2,571,179)
(4,662,155)
{7,358,906)
4,643
46,365,997
2,848.735
(2,571,179)
(4,662,155)
{7.358,906)
Net assets
34,627,135
34,627,135
Unrestricted
Funds
Total Funds
2023
Tangible fixed assets
Investments
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Provisions
6,191
44.512,022
2,132,131
(3,051,127)
(4,771,557)
(6,871,645)
6,191
44,512,022
2,132,131
(3,051,127)
14,771,557)
(6,871,645)
Net assets
31,956,015
31,956,015
26.
ANALYSIS OF CHANGES IN NET DEBT
At 1 Jul 2023
Cash flows At 30 Jun 2024
Cash at bank and in hand
Bank overdrafts
Debt due within one year
Debt due after one year
279,865
(18)
(88,500)
(4,771,557)
{390,125)
(181
10,400
{109,402)
669,990
(98,900)
(4,662,155)
(4,580.210)
489,145
(4,091,065)
27.
ANALYSIS OF CASH AND CASH EQUIVALENTS
2024
2023
Cash at bank and in hand
Overdraft facility repayable on demand
669,991
279,865
(18)
Total cash and cash equivalents
669,991
279,847
Page 27

GERSON BERGER ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (Contlnued)
FOR THE YEAR ENDED 30JUNE 2024
28.
FINANCIAL INSTRUMENTS
The carrying amount for each category of financial instruments is as follows..
2024
2023
FINANCIAL ASSETS THAT ARE DEBT INSTRUMENTS MEASURED AT AMORTISED COST
Financial assets that are debt instruments measured at amortised
Cost
FINANCIAL LIABILITIES MEASURED AT AMORTISED COST
Financial liabilities measured at amortised cost
FINANCIAL ASSETS MEASURED AT FAIR VALUE THROUGH PROFIT AND LOSS
Listed investments
29.
RELATED PARTY TRANSACTIONS
GROUP
Other debtors include £223,878 (2023: 223,878) due from subsldiary undertakings of Shulem B.
Association Limited. itself a charity with common trustees. These loans are interest free and repayable
on demand.
Other creditors include £1,092,439 {2023'. £1,263,230) due to prrvate companies which have directors
in common with the subsidiary undertakings which have been the recipients of these loan advances.
These loans are interest free and repayable on demand. Other creditors also include £1,042,887 {2023'.
£1,042,887) due to subsidiary undertaklngs of Shulem B. Association Limited, itself a charity with
common trustees. These loans are interest free and repayable on demand.
ACCOUNTING ESTIMATES AND JUDGEMENTS
30.
(i) Property valuation
The valuatlon of the group's property portfolio Is inherently subjective, depending on many factors,
including the individual nature of each property, its location and expected future net rental values, market
yields and Comparable market transactions. Therefore, the valuations are subject to a degree of
uncertainly and are made on the basis of assumptions which may not prove to be accurate, particularly
in periods of difficult market or economic conditions. All the group's properties are valued by the
directors who have the appropriate expertise and experlence.
{ii} Trade debtors
Management uses details of the age of trade debtors and the status of any disputes together with
external evidence of the credit status of the counterpaty in making judgements concerning any need to
impair the carrying values.
(iii) Unlisted investments valuation
The valuation of the group's unlisted investments is subjective, depending on many factors, including
comparator dividend yields and net asset values, assumed rationale of prospective share purchasers,
and the deemed impact of entity specific conditions on the aforementioned measures. Significant
judgement is also required when selecting comparator companies to be included in the population from
which expected yields and discounted net asset value5 are derived. Therefore, the valuation is subject
to a degree of uncertainty and is made on the basis of assumptions which may not prove to be accurate,
partlcularly in periods of difFicult market or economic conditions.
Page 28