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← The Gertner Charitable Trust

2025-03-31-accounts

Charity registration number 327380

THE GERTNER CHARITABLE TRUST

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

THE GERTNER CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr M Gertner
Mr M Gertner
Mr S Jacobs
Charity number 327380
Principal address Fordgate House
1 Allsop Place
London
NW1 5LF
Auditor Glazers
843 Finchley Road
NW11 8NA
Accountant Precision Ltd
32 Castlewood Road
London
N16 6DW
Bankers National Westminster Bank
520 High Road
Wembley
HA9 7BZ

THE GERTNER CHARITABLE TRUST

CONTENTS

Page
Trustees' report 1 - 2
Statement of trustees' responsibilities 3
Independent auditor's report 4 - 7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 11 - 17

THE GERTNER CHARITABLE TRUST

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 charity's trust deed, the Charities Act 2011 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)" (effective 1 January 2019).

Objectives and activities

The trustees hold the capital and income of the trust fund upon trust to pay or apply the whole thereof to or towards or for the benefit or in furtherance of such Jewish charitable purposes, charitable institutions or charitable foundations or individuals in the United Kingdom or elsewhere in such manner and in such proportions as the trustees may from time to time in their absolute discretion determine and so that the trust fund shall be applicable both as to capital and income primarily for the support of Jewish charities and for other general charitable purposes.

The trustees have confirmed that they have referred to the guidance 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 policy for the year.

Grants are made to charitable institutions and organisations which accord with the objects of the charity and the charity's Grant Making Policy Statement which is reviewed annually. The trustees consider all requests which they receive and make donations based on the level of funds available, All grants over £10,000 are detailed in the notes to the accounts.

In making grants and donations, the Trustees use their personal knowledge of the institution, its representatives, operational efficiency and reputation. The Trustees monitor the application of the grants and donations by meeting with representatives of the institutions and obtain information as to the utilisation of funds.

Achievements and performance

The charity received £1,557,700 (2024: £493,345) in donations during the year, and £628,173 (2024: £352,196) was paid out by way of grants and support costs.

The charity has maintained its policy of allocating grants to individuals and charitable organisations, both within the U.K. and overseas.

Financial review

The balance sheet on page 6 shows the financial position of the charity as at 31st March 2025.

At the balance sheet date there was a funds deficiency of £3,012,766 (2024: £3,942,293). The funds deficiency arose in 2010 as a consequence of meeting commitments for grants made in that year. The financial statements have been drawn up on a going concern basis as Rackley Limited and J & M Baumgarten have confirmed their continued support to enable the Charity to meet its objectives.

The trustees have reviewed the financial position of the charity and consider that, with the support of the above entities, funds are available to cover the management and administration costs for the forthcoming year.

The charity aims to distribute its unrestricted funds as as soon as it is able, although the trustees will ensure that sufficient reserves are maintained to meet grant payments for the foreseeable future.

It is the policy of the charity 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 charity’s current activities while consideration is given to ways in which additional funds may be raised.

The charity is working towards its above policy and in the year under review has managed to decrease the deficit significantly.

THE GERTNER CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management

The Gertner Charitable Trust is a registered charity (number 327380) and was established under a Trust Deed dated 3rd February 1987.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr M Gertner

Mr M Gertner Mrs M Gertner (Resigned 11 July 2024) Mr S Jacobs

The statutory power of appointing new or additional trustees is vested in the current trustees. The total number of trustees shall not be less than two. The Trust has regular quarterly meetings.

It is not the intention of the trustees of the charity to appoint any new trustees at present. Should the situation change in the future, the trustees will apply suitable induction and training procedures.

The Charitable Trust has no employees. The trustees administer the day to day running of the charity.

None of the trustees has any beneficial interest in the charity.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees. xdimon Jacobs

..............................

Mr S Jacobs

Trustee

Date: .............................................

THE GERTNER CHARITABLE TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2025

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 law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.

THE GERTNER CHARITABLE TRUST

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF THE GERTNER CHARITABLE TRUST

Opinion

We have audited the financial statements of The Gertner Charitable Trust (the ‘charity’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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:

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 charity 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 that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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 contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of 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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

THE GERTNER CHARITABLE TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE GERTNER CHARITABLE TRUST

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees 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 cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

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 detecting irregularities, including fraud, is detailed below. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

2) Discussions among the engagement team regarding how and when fraud might occur in the financial statements and any potential indicators of fraud.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and the Charities Act 2011.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charity's ability to operate or avoid a material penalty.

As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud or non-compliance with laws and regulations.

THE GERTNER CHARITABLE TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE GERTNER CHARITABLE TRUST

In addition to the above, our procedures to respond to risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

We note that our audit is not primarily designed to detect non-compliance with laws and regulations and the Trustees and other management are responsible for such internal control as the Trustees and other management of the Charity determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to errors or fraud, including compliance with laws and regulations. Additionally, 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. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

Your attention is drawn to the fact that the comparative figures were not audited, as the prior years accounts were not subject to an audit.

In addition, your attention is drawn to the fact that the charity has prepared financial statements in accordance with "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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

THE GERTNER CHARITABLE TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE GERTNER CHARITABLE TRUST

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.

( ......................... Jan 30, 2026 Mr Philippe Herszaft (Senior Statutory Auditor) For and on behalf of Glazers Chartered Accountants Statutory Auditor 843 Finchley Road London NW11 8NA

Glazers is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

THE GERTNER CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Donations and legacies 3 1,557,700 493,345
Expenditure on:
Charitable activities 4 628,173 352,196
Net income for the year/
Net movement in funds 929,527 141,149
Fund balances at 1 April 2024 (3,942,293) (4,083,442)
Fund balances at 31 March 2025 (3,012,766) (3,942,293)

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

All income and expenditure derive from continuing activities.

THE GERTNER CHARITABLE TRUST

BALANCE SHEET

AS AT 31 MARCH 2025

2025 2024
Notes £ £ £ £
Current assets
Debtors 10 5,189 -
Cash at bank and in hand 9,666 17,719
14,855 17,719
Creditors: amounts falling due within
one year 11 (10,782) (3,748)
Net current assets 4,073 13,971
Creditors: amounts falling due after
more than one year 12 (3,016,839) (3,956,264)
Net liabilities (3,012,766) (3,942,293)
Income funds
Unrestricted funds (3,012,766) (3,942,293)
(3,012,766) (3,942,293)

The financial statements were approved by the Trustees on .........................

.............................. xdimon Jacobs Mr S Jacobs

Trustee

THE GERTNER CHARITABLE TRUST

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
14
Net cash used in investing activities
Financing activities
Repayment of borrowings
Net cash used in financing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
-		 2024
£
£
£
(8,053)
141,149
-
-
(134,592)
-
(134,592)
(8,053)
6,557
17,719
11,162
9,666
17,719

THE GERTNER CHARITABLE TRUST

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

1 Accounting policies

Charity information

The Gertner Charitable Trust is a registered charity and is governed by its Trust Deed dated 3rd February 1987.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

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. The principal accounting policies adopted are set out below.

1.2 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 existence for the foreseeable future. This is not withstanding the current deficit in funds as Rackley Limited and J & M Baumgarten have confirmed their continued support to enable the charity to meet its debts as and when they fall due. Details of the support provided to the charity by the above entities are disclosed in the related party transactions notes to the Financial Statements. Thus the trustees 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 trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

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.

THE GERTNER CHARITABLE TRUST

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

1 Accounting policies

(Continued)

1.5 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.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

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

THE GERTNER CHARITABLE TRUST

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

2 Critical accounting estimates and judgements

In the application of the charity’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 Donations and legacies

**Unrestricted ** Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 1,557,700 493,345

4 Charitable activities

Charitable
Charitable
Expenditure
Expenditure
2025 2024
£ £
Grant funding of activities (see note 5) 611,948 347,355
Share of support costs (see note 6) 9,191 1,091
Share of governance costs (see note 6) 7,034 3,750
628,173 352,196

THE GERTNER CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

5 Grants payable

Charitable
Charitable
Expenditure
Expenditure
2025 2024
£ £
Grants to institutions:
Chevras Mo'oz Ladol 106,900 30,100
Keren Habinyan Ltd 50,000 -
Kollel Beis Yechiel 50,000 30,000
Instituto Nacional 41,663 42,347
Achisomoch Aid Co 39,335 10,250
Mosdos Torat Emet 35,000 29,805
Beis Yaakov Primary School Foundation 32,320 13,800
Jewish Student Information Centers 28,000 -
Dover Sholem 25,000 -
Mercaz Chasidei Wiznitz 25,000 -
Beis Hamedrash Nishmas Yisroel Limited 15,230 8,780
Mifal Tzedoko V'Chesed Ltd 15,000 -
Hasmonean High School 14,200 1,180
Keren Shabbos 20,000 -
Chana Charity Ltd 11,100 12,200
Torah 5759 Limited 11,080 9,640
Other 88,428 150,638
608,256 338,740
Grants to individuals 3,692 8,615
611,948 347,355

THE GERTNER CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

6 Support costs

Support
costs
Governance
costs
£
£
Bank fees
663
-
General office costs
8,528
-
Audit fees
-
3,000
Accountancy
-
3,750
Legal and professional
-
284
9,191
7,034
Analysed between
Charitable activities
9,191
7,034		 2025
Support
costs
Governance
costs
£
£
£
663
1,091
-
8,528
-
-
3,000
-
-
3,750
-
2,150
284
-
1,600
16,225
1,091
3,750
16,225
1,091
3,750		 2024
£
1,091
-
-
2,150
1,600
4,841
4,841

Governance costs includes payments to the auditors of £3,000 for audit fees.

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

8 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.

9 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 10 Debtors

Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 2025
£
2,345
2,844
5,189		 2024
£
-
-
-

THE GERTNER CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

11
Creditors: amounts falling due within one year
Trade creditors
Accruals and deferred income
12
Creditors: amounts falling due after more than one year
Other creditors		 2025
£
4,032
6,750
10,782
2025
£
3,016,839		 2024
£
-
3,748
3,748
2024
£
3,956,264

13 Related party transactions

As at 31 March 2025 the Trust owed £2,876,965 (2024: £3,794,106) to Rackley Limited a company registered in Gibraltar and controlled by The Gertner No. 1 Settlement, connected with Michelle Gertner. The directors of Rackley Limited have confirmed that they will not be calling upon these funds to be repaid within the next 12 months.

The above loan is a long term interest free loan. The loan was received in 2010 in order to meet commitments for grants made in that year.

The Trust also owed £42,875 (2024: £12,875) to companies of which the directors are close family members of some of the trustees of the charity.

At 31 March 2025, there was a funds deficiency on the balance on unrestricted funds amounting to £3,012,766. Rackley Limited and J & M Baumgarten have confirmed that it will continue to provide support to enable the charity to continue to meet its charitable objectives.

After making appropriate enquiries, the trustees have a reasonable expectation that, with the support provided by Rackley Limited and J & M Baumgarten the charity will have adequate resources to continue in operational existence for the foreseeable future. For this reason, the charity continues to adopt the going concern basis in preparing the financial statements.

During the year, the charity received donations totalling £Nil (2024: £51,000) from the charity's trustees. The charity also received £1,237,525 from Globaltime Ltd and £138,000 from Fordgate Romford Ltd of which the directors are close family members of some of the trustees of the charity.

14
Cash generated from operations
Surplus for the year
Movements in working capital:
(Increase) in debtors
(Decrease) in creditors
Cash (absorbed by)/generated from operations		 2025
£
929,527
(5,189)
(932,391)
(8,053)		 2024
£
141,149
-
-
141,149

THE GERTNER CHARITABLE TRUST

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

15
Analysis of changes in net (debt)/funds
At 1 April 2024
£
Cash at bank and in hand
17,719
Loans falling due after more than one year
(3,956,264)
(3,938,545)		 Cash flowsAt 31 March 2025
£
£
(8,053)
9,666
939,425
(3,016,839)
931,372
(3,007,173)