Registered Charity Number 326535
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MAGEN CHARITABLE TRUST Financial Statement
For the year ended 31 March 2025
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SEFTON YODAIKEN & CO CHARTERED ACCOUNTANTS Fairways House George Street Prestwich . Manchester M25 9WS
- Magen Charitable Trust
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| CharityInformation | ||
|---|---|---|
| Bankers | RoyalBankofScotland 38MoseleyStreet |
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| Manchester | ||
| M60 2BE | ||
| Solicitor | LiefmanRose&Co 94BuryOldRoad |
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| ManchesterM8 | ||
| Accountants | SeftonYodaiken&co Charted Accountants |
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| FairwaysHouse | ||
| GeorgeStreetPrestwich | ||
| Manchester | ||
| M259WS |
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Magen Charitable Trust
Annual Report For the year ended 31 March 2025
The Magen Charitable Trust is constituted by Deed of Trust and is a registered charity, number 326535. Its address is at New Riverside House 439 Lower Broughton Road Salford M7 2FX.
The charity trustees during the year were:
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- e MrJ Halpern e Mrs Rose Halpern
The object of the charity is to provide assistance:
- e Torelieve poverty; ¢ To support educational establishments, e To support religious education.
The administration of the trust is carried out by the Trustees.
The income of the charity is received by way of Gift Aid, donations, interest, rent and dividends.
The Trustees examine all grant applications and they decide on the level of grant to be made depending on the cause and the level of reserves.
Risk Review . The trustees have assessed the major risks to which the charity 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.
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Grant Making Policy
The charity is funded by donations and also from investment income. The charity gives out grants in line with the above objectives and in accordance with the charities grant making policy. The trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the charity’s aims and objectives and in planning its future activities.
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Magen Charitable Trust
Trustees Report For the year ended 31 March 2025
Achievements and Performance The charity received £NIL in donations during the year. Grants given during the year totalled £159,551. The grants were all in accordance with the charities objectives.
Financial Review In the current year the charity was successful in meeting its aims.
Investments The charity has a portfolio of investment properties. The rental income derived is to create an income stream for the charity. The charity’s investment properties are included in the balance sheet. The valuations are derived having consulted with local estate agents and with the trustees best estimate of market value at the balance sheet date. The trustees have extensive experience in the field of property investment and valuation which has accumulated over a considerable amount of time.
Investment Powers and Policy In accordance with the trust deed, the charity has power to make any investments which the trustees see fit. The trustees regularly review the charity's position and needs in respect of the investment policy.
Reserves Policy It is the policy of the charity to maintain unrestricted funds, which are free reserves of the charity at a level which the trustees think appropriate after considering the future commitments of the charity and likely costs of the charity for the next year.
Mr. J. Halpern Trustee
For and signed on behalf of the Board of Trustees.
13 December 2025
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- Magen Charitable Trust
Independent Examiner’s Report to the Trustees For the year ended 31 March 2025
We report on the accounts of the Trust for the year ended 31 March 2025, which are set out on pages 6 to 7. Respective responsibilities of trustees and examiner As the charity’s trustees you are responsible for the preparation of the accounts. You consider that the audit requirement of section 144 of the Charities Act 2011 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 145(5)(b) of the Act, whether particular matters have come to my attention.
Basis of independent examiner's report My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented. with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement In connection with my examination, no matter has come to my attention:
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(1) Which gives me reasonable cause to believe that in any material respect the requirements (1) to keep accounting records in accordance with section 130 of the Act; and (ii) to prepare accounts which accord with the accounting records and to comply with the accounting requirement of the Act
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have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mr. S. Yodaiken
13 December 2025
SEFTON YODAIKEN & CO CHARTERED ACCOUNTANTS Fairways House George Street Prestwich _ Manchester M25 9WS
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Magen Charitable Trust*®
Statement of Financial Activities For the year ended 31 March 2025
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|---|---|---|---|---|
|,|Notes|2025|2024|
|£|£|
|Income|resources|
|Voluntary income|3|---|7,500|
|Investment income|.|4|164,198|160,735|
|Other income|453|12,615|
|Total income resources|164,651|180,850|
|Resources|expenditure|
|Charitable distribution|159,551|200,360|
|Governance costs|5|1,835|8,071|
|Administrative expenses|:|6|2,821|43,471|
|Total resources expended|164,207|251,902|
|Net deficit for the year|444|(71,052)|
|Surplus B/F|1,616,887|1,687,939|
|Surplus C/F|1,617,331|1,616,887|
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- Magen Charitable Trust*
Balance Sheet as at 31 March 2025
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|---|---|---|---|
|Notes|2025|2024|
|£|£|£|£|
|FixedInvestmentassets assets|7|1,194,491|1,194,491|
|Current|assets|
|Debtors|8|265,597|263,171|
|Cash at bank|192,345|174,008|
|457,942|437,179|
|Creditors: due within the year|9|(35,102)|(14,783)|
|Net current assets|422,840|422,396|
|Total assets less current liabilities|1,617,331|1,616,887|
|Funds|
|Unrestricted reserves|1,617,331|1,616,887|
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Approved by the Trustees on 13 December 2025 and signed on their behalf:
Mr. J. Halpern Trustee
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*Magen Charitable Trusts
Notes to the Financial Statements For the year ended 31 March 2025
- Accounting Policies These accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards and the charities statement of recommended practise on accounting by charities (Charities SORP FRS 102) and the Charities Act 2011).
2. Voluntary income
| 2. Voluntary incomeVoluntary incomeincome | 2025 | 2024 |
|---|---|---|
| £ | £ | |
| Donations | -- | 7,900 |
| 4. Investmentincome | 2025 | 2024 |
| £ | £ | |
| Rentalandotherinvestmentincome Dividends Bankinterestreceived |
161,989 -- 2,209 |
154,239 4,500 1,996 |
| 164,198 | 160,735 | |
| 5. Governance costs | ||
| 2025 | 2024 | |
| £ | £ | |
| Legalandaccountancy Bankcharges |
1,620 215 |
7,896 175 |
| 1,835 | 8,071 | |
| 6.Administrative expenses | ||
| 2025 | 2024 | |
| £ | £ | |
| Insurance Servicecharge (net) Repairs Cleaning Rates |
(912) (2,068) 690 1,902 -—- |
2,919 10,691 20,484 2,049 6,545 |
| Advertising Managementfees |
2,814 --- |
—_ 357 |
| Heatandlight | 395 | 426 |
| 2,821 | 43,471 |
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- Magen Charitable Trust
Notes to the Financial Statements (cont'd...) For the year ended 31 March 2025
| 7.InvestmentFixedAssets | 2025 | |
|---|---|---|
| Land&Property | £ | |
| B/F&C/F | 1,194,491 | |
| TheTrustees revalued the assets as at31 March2002 | ||
| Makeupofnetbookvalue | £ | |
| Cost Revaluation |
556,526 637,965 |
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| 1,194,491 | ||
| 8. Debtors | 2025 | 2024 |
| £ | £ | |
| Trade debtors | 199,694 | 197,268 |
| Loandebtors | 65,903 | 65,903 |
| 265,597 | 263,171 | |
| 9, Creditors: amountsfallingduewithinoneyear | 2025 | 2024 |
| £ | £ | |
| Trade creditors | 570 | 570 |
| Bankoverdraft | 23,389 | 5,138 |
| Othercreditorsanddeposits | 11,143 | 9,075 |
| 35,102 | 14,783 |
10. Trustees
No remuneration was paid and no expenses were reimbursed to the Trustees during the year.
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