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← Localtrent Limited

2025-03-31-accounts

Company registration number 01671900 (England and Wales) Charity registration number 326329 (England and Wales)

LOCALTRENT LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

LOCALTRENT LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Governors Mr Hyman Weiss Mr Philip Weiss Charity number 326329 Company number 01671900 Principal address Heaton House 148 Bury Old Road Manchester M7 4SE Registered office Heaton House 148 Bury Old Road Manchester M7 4SE Independent examiner Lopian Gross Barnett & Co 1st Floor, Cloister House Riverside New Bailey Street Manchester M3 5FS

LOCALTRENT LIMITED

GOVERNORS' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

The governors present their report and accounts for the year ended 31 March 2025 ~~.~~

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

The charity's objectives are to aid the advancement of religion in accordance with the Orthodox Jewish faith and the relief of poverty and other charitable purposes for the public benefit ~~.~~ The policies adopted in furtherance of these objects are to identify Orthodox Jewish Charities which carry out activities such as providing Orthodox Jewish education and other activities which advance religion in accordance with the Orthodox Jewish faith or which relieve poverty and there has been no change in these during the year.

Each year, the governors confirm that they have referred to guidance contained in the Charity Commission general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting the grant making policy for the year ~~.~~

The charity's income is generated from investment income and gains and charitable donations which is then distributed to meet the above objectives after allowing for funds required for investment in the charity joint property syndicates.

The objective of the charity for the year was to maintain a stable flow of donations to worthy causes in the Jewish community ~~.~~ The governors also aim to expand the charity's investment portfolio when the opportunity arises ~~.~~ No particular criteria or measures are used to assess success in achieving these aims or objectives.

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

Achievements and performance

The charity has continued to distribute funds to other charities and charitable causes during the year. The governors are pleased with the investment performance and with the level of donations given to worthy causes ~~.~~

Financial review

The governors' investment powers are governed by the company's Memorandum of Association which permits the company to invest as may be determined by the governors ~~.~~

The governors’ are experienced property investors and have invested the company's funds in various properties with others in order to generate funds for distribution. Investments are chosen on the basis of achieving a yield in excess of that available from cash deposits while maintaining a high degree of security of income and the underlying assets ~~.~~

The charity's investments generated income of £306,474 (2024: £278,443) and also had income of £46,000 (2024: £255,000) from donations. There were gains were made on the sale of property investments in the year of £29,486 (2024: £16,248). Accordingly, the total of incoming resources were £381,960 (2024: £549,691) which left a surplus of £365,368 (2024: £531,069) after expenses of £16,592 (2024: £18,622) ~~.~~

The charity distributed £417,360 (2024: £571,816) to various charities for the relief of poverty and the advancement of religion in accordance with the Orthodox Jewish faith ~~.~~

~~-~~ 1 ~~-~~

LOCALTRENT LIMITED

GOVERNORS' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2025

There is no policy to maintain a level of reserves other than as required for the charity's investment portfolio ~~.~~

The governors' investment powers are governed by the charity's memorandum of association that permits the charity to invest as may be determined by the governors.

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

Structure, governance and management

The charity is a company limited by guarantee. It was incorporated on 14 October 1982 and registered as a charity on the same date ~~.~~ The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association ~~.~~

The governors, who are also directors for the purpose of company law, and who served during the year were:

Mr Hyman Weiss Mr Philip Weiss

Governors are recommended and appointed by the Board of Governors, training would be offered to new governors by existing governors.

None of the governors has any beneficial interest in the company. All of the governors are members of the company and guarantee to contribute £1 in the event of a winding up.

The board of governors administers the charity.

The governors' report was approved by the Board of Governors.

Beene - Eeetee...ty Signed o n -29eJanuaryeon 2026 ee7:36 Mr Hyman Weiss Governor Dated:29 January. 2026

~~-~~ 2 ~~-~~

Dated: 29/01/2026 29/01/2026...

LOCALTRENT LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Unrestricted Unrestricted Unrestricted Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income and endowments from:
Donations and legacies 3 46,000 255,000
Investment income 4 306,474 278,443
Other incoming resources 5 29,486 16,248
Total income 381,960 549,691
~~Expenditure on:~~
Charitable activities 6 417,360 571,816
Other 11 16,592 18,622
Total resources expended 433,952 590,438
Net expenditure for the year/
Net movement in funds (51,992) (40,747)
Fundbalancesat31March2025 1,734,132 1,786,124

The statement of financial activities includes all gains and losses recognised in the year ~~.~~

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

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

~~-~~ 4 ~~-~~

LOCALTRENT LIMITED

BALANCE SHEET AS AT 31 MARCH 2025

2025 2024
Notes £ £ £ £
Fixed assets
Investment properties 13 400,000 400,000
Investments 14 100 100
Investments in joint property syndicates
15		 2,076,125 2,138,151
2,476,225 2,538,251
Current assets
Debtors 16 1,958 1,958
Cash at bank and in hand 172,467 216,337
174,425 218,295
Creditors: amounts falling due within
one year 18 (887,528) (917,528)
Net current liabilities (713,103) (699,233)
Total assets less current liabilities 1,763,122 1,839,018
Creditors: amounts falling due after
more than one year 19 (28,990) (52,894)
Net assets 1,734,132 1,786,124
Income funds
Unrestricted funds 1,734,132 1,786,124
1,734,132 1,786,124

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements ~~.~~

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ~~.~~ These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Governors ON ..........::::eeeeee

HOPE,..byeSigned an.29 Januaryhe 2026 @ 7:36 Mr Hyman Weiss Governor

Company Registration No ~~.~~ 01671900

~~-~~ 5 ~~-~~

LOCALTRENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Localtrent Limited is a private company limited by guarantee incorporated in England and Wales ~~.~~ The registered office is Heaton House, 148 Bury Old Road, Manchester, M7 4SE.

1 ~~.1~~ . Accounting convention

The accounts have been prepared in accordance with the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016) ~~.~~ The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £ ~~.~~

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value ~~.~~ The principal accounting policies adopted are set out below ~~.~~

1.2 Going concern

At the time of approving the financial statements, the governors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the governors continue to adopt the going concern basis of accounting in preparing the financial statements ~~.~~

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the governors in furtherance of their charitable objectives.

Funds held by the charity are all unrestricted ~~.~~ These being funds which can used in accordance with the charitable objects at the discretion of the governors ~~.~~

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity ~~.~~

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received ~~.~~

Cash donations are recognised on receipt ~~.~~ Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation ~~.~~

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset ~~.~~

~~-~~ 6 ~~-~~

LOCALTRENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

(Continued)

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.

Expenditure is recognised on an accruals basis as a

liability is incurred ~~.~~

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them ~~.~~

Other costs include all costs involving the public accountability of the charity and its compliance with regulation and good practice. These include costs related to legal fees.

Charitable distributions represent donations paid to religious, educational and similar charities, and are recognised when payment is made by the charity ~~.~~

1.6 Investment properties

Cash and cash equivalents include cash in hand, deposits held at call with banks ~~.~~

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument ~~.~~

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously ~~.~~

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. Financial assets classified as receivable within one year are not amortised ~~.~~

~~-~~ 7 ~~-~~

LOCALTRENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

1.10 Investments in joint property syndicates

The charity has a number of joint interests in various properties each of which is owned by a syndicate of similar participators ~~.~~ These investments are stated at the net cost of participation in the syndicate plus accumulated surpluses less deficiences and drawings from the syndicate ~~.~~

No revaluation of the underlying properties has been reflected in the accounts.

1.11 Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertakings comprise a small-sized group ~~.~~ The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

2 Critical accounting estimates and judgements

In the application of the charity's accounting policies, the governors 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 Donations and legacies

2025 2024
£ £
Donations and gifts 46,000 255,000
Donationsinclude£Nil(2024:Nil)fromthecompany'ssubsidiaries.

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LOCALTRENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

7 Grants payable

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|||||||||| |---|---|---|---|---|---|---|---|---| |Charitable|Charitable| |distributions|distributions| |2025|2024| |£|£| |Grants|to|institutions:| |Orthodox|Jewish|education|&|religious|studies|197,660|112,660| |Advancement|of|religion|&|orthodox|Jewish|faith|104,000|210,646| |Relief of|hardship|&|poverty|in|Jewish|community|115,700|109,380| |417,360|571,816|

----- End of picture text -----

Material grants issued in the period were:

£

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|||||||| |---|---|---|---|---|---|---| |Asser|Bishvil|Foundation|43,200| |Machzikei|Lomdei|Torah|34,000| |Chernobel|Shul|32,500| |Kolyom|Trust|Limited|26,000| |Zoreya|Tzedokos|25,000| |CML|-|Chevras|Mo'oz|Ladol|25,000| |The|Yeshivas|Ohel|Shimon|Trust|22,400| |Ahavas|Chesed|Trust|21,000| |Kollel|Kinyan|Hashas|Ltd|19,000| |Satmar|Torah|Trust|Ltd|18,000| |The|Machzikie|Hadass|Communities|15,000| |Bederech|Kovod|13,500| |The|Bais|Rochel|Dsatmar|Charitable|Trust|13,000| |Talmud|Torah|Yetev|Ltd|10,500| |Beis|Yoel|10,000| |328,100| |Other|grants|(less|than|£10,000)|89,260| |417,360|

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8 Net movement in funds

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Net|movement|in|funds|2025|2024| |£|£| |The|net|movement|in|funds|is|stated|after|charging/(crediting):| |Fees|payable|for|the|independent|examination|of|the|charity's|financial| |statements|5,950|7,100| |Profit|on|disposal|of tangible|fixed|assets|(27,149)|(16,248)|

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~~-~~ 10 ~~-~~

LOCALTRENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

9 Governors

None of the governors (or any persons connected with them) received any remuneration or expenses during the year ~~.~~

10 Employees

The average monthly number of employees during the year was:

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |2025|2024| |Number|Number| |Total|-|-| |There|were|no|employees|whose|annual|remuneration|was|more|than|£60,000.| |Other| |2025|2024| |£|£| |Legal|and|professional|fees|2,337|-| |Accountancy|charges|5,710|7,100| |Sundry|expenses|1,326|1,614| |Bank|charges|and|interest|273|539| |Financing|costs|6,742|8,691| |Insurance|204|678| |16,592|18,622|

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  1. Other

12 Taxation

The activities of Localtrent Limited are exempt from direct taxation under part Il of Corporation Tax Act 2010 ~~.~~

13. Investment property

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|||||||||| |---|---|---|---|---|---|---|---|---| |2025| |£| |Fair|value| |At|1|April|2024|and|31|March|2025|400,000|

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The fair value of the investment property has been arrived at on the basis of a valuation carried out by the governors who have considerable experience within the residential property sector. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties ~~.~~

~~-~~ 1 ~~-~~

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LOCALTRENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

16
Debtors		 16
Debtors		 16
Debtors
2025 2024
Amounts falling due within one year:
£		 £
Other debtors 1,958 1,958
17
Loans		 and overdrafts
2025 2024
£ £
Bank loans 50,805 72,620
Governors' loans 527,500 527,500
578,305 600,120
Payable within one year 549,315 547,226
Payableafter oneyear 28,990 52,894

The charity has a loan with an interest rate of 5 ~~.~~ 25% above libor and is repayable in 2027 by 48 quarterly payments, with a total of £28,000 currently repayable per annum (including interest) ~~.~~

18 Creditors: amounts falling due within one year

2025 2024
Notes £ £
Bank loans 17 21,815 19,726
Other borrowings 527,500 527,500
Trade creditors ~~-~~ 7,620
Amounts due to subsidiary undertakings 141,774 171,774
Other creditors 189,299 183,288
Accruals and deferred income 7,140 7,620
887,528 917,528

19 Creditors: amounts falling due after more than one year

2025 2024
Notes £ £
Bank loans 17 28,990 52,894

~~-~~ 13 ~~-~~

LOCALTRENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

20 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 At 1 April Incoming
Resources		 Incoming
Resources		 Incoming
Resources		 At 31 March
2024 resources
expended		 2025
£ £
£		 £
General funds 1,786,124 381,960
(433,952)		 1,734,132
Previous year: At 1 April Incoming
Resources		 At 31 March
2023 resources
expended		 2024
£ £
£		 £
Generalfunds 1,826,871 549,691
(590,438)		 1,786,124

21 ~=Related party transactions

Transactions with related parties

The following amounts were outstanding at the reporting end date:

Amounts owed to Amounts owed to related
parties
2025 2024
£ £
H Weiss 295,000 295,000
P Weiss 232,500 232,500
527,500 527,500

22 ~+Related party transactions

The charity had the following loan transaction during the year which is repayable on demand ~~.~~ The company has substantially the same directors/governors as the charity ~~.~~

Balance Balance b/fwd Amount Amount Balance Balance
received inthe c/fwd
year
Ardina Limited 30,000 ~~-~~ 30,000

~~-~~ 14 ~~-~~

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