**REGISTERED CHARITY NUMBER: 328332**
## **THE SHAAREI CHESED TRUST**
**REPORT OF THE TRUSTEES AND**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025**
Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS
**THE SHAAREI CHESED TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025**
|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||1||
|**Report of the Trustees**|2|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Statement of Financial Position**||6||
|**Notes to the Financial Statements**|7|to|10|
## **THE SHAAREI CHESED TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 SEPTEMBER 2025**
**TRUSTEES** M M Bernath E Bernath M Klein (appointed 22.10.25) **PRINCIPAL ADDRESS** 16 Reizel Close London N16 5GY **REGISTERED CHARITY** 328332 **NUMBER INDEPENDENT EXAMINER** Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS **BANKERS** TSB Bank plc 174 Clapton Common London E5 9AQ
Page 1
## **THE SHAAREI CHESED TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2025**
The trustees present their report with the financial statements of the charity for the year ended 30 September 2025.
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
The information is shown on page 1 of the financial statements and forms part of this report.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The relief of poverty, and other such charitable purposes as the trustees think fit.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
## **ACHIEVEMENTS AND PERFORMANCE**
## **Achievement and performance**
The charity ran a fundraising campaign with the result that income rose by 27%, the trustees were thus able to increase grantmaking.
## **FINANCIAL REVIEW**
## **Reserves policy**
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end were £36,307 (2024 - £33,349) with free reserves of £24,032 (2024 - £26,774).
## **FUTURE PLANS**
The charity plans to continue its activities for the foreseeable future subject to satisfactory income.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Charity constitution**
The charity is constituted and governed by Declaration of Trust dated 14 August 1989.
## **Recruitment and appointment of new trustees**
The power to appoint new trustees is vested in the board. It is not the intention of the trustees to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.
## **Risk management**
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Page 2
## **THE SHAAREI CHESED TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2025**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued**
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and The Charity (Accounts and Reports) Regulations 2008. 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.
Approved by order of the board of trustees on 25 February 2026 and signed on its behalf by:
M M Bernath - Trustee
Page 3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SHAAREI CHESED TRUST**
## **Independent examiner's report to the trustees of The Shaarei Chesed Trust**
I report to the charity trustees on my examination of the accounts of The Shaarei Chesed Trust (the Trust) for the year ended 30 September 2025.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
E. Meyer FCA, BSc
Sugarwhite Meyer HS Ltd First Floor 94 Stamford Hill London N16 6XS
25 February 2026
Page 4
## **THE SHAAREI CHESED TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2025**
|**2025**
**Unrestricted**
**fund**
**Notes**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
161,238
**EXPENDITURE ON**
Raising funds
6,415
**Charitable activities**
2
Grantmaking
150,555
Support
1,310
**Total**
158,280
**NET INCOME**
2,958
**RECONCILIATION OF FUNDS**
Total funds brought forward
33,349
**TOTAL FUNDS CARRIED FORWARD**
36,307|**2024**
**Total**
**funds**
**£**
127,145|
|---|---|
||-
103,729
2,759|
||106,488|
||20,657
12,692|
||33,349|
The notes form part of these financial statements
Page 5
## **THE SHAAREI CHESED TRUST**
## **STATEMENT OF FINANCIAL POSITION 30 SEPTEMBER 2025**
|**Notes**
**CURRENT ASSETS**
Debtors
6
Cash at bank
**CREDITORS**
Amounts falling due within one year
7
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
8
**NET ASSETS**
**FUNDS**
10
Unrestricted funds
**TOTAL FUNDS**|**2025**
**Total**
**funds**
**£**
12,500
30,932
43,432
(6,900)
36,532
36,532
(225)
36,307
36,307
36,307|**2024**
**Total**
**funds**
**£**
9,500
30,494
39,994
(3,720)
36,274
36,274
(2,925)
33,349
33,349
33,349|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 25 February 2026 and were signed on its behalf by:
M M Bernath - Trustee
The notes form part of these financial statements
Page 6
## **THE SHAAREI CHESED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
Income received by way of donations is accounted for when received.
## **Expenditure**
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.
Grants are only recognised in the accounts when paid.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Going concern**
There are no material uncertainties about the charity's ability to continue.
## **Financial instruments**
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.
Current assets and current liabilities are subsequently measured at the amount expected to be received or paid and not discounted.
## **2. CHARITABLE ACTIVITIES COSTS**
|Grantmaking
Support|**Grant**
**funding of**
**activities**
**(see note**
**3)**
**£**
150,555
-
150,555|**Support**
**costs (see**
**note 4)**
**£**
-
1,310
1,310|**Totals**
**£**
150,555
1,310|
|---|---|---|---|
||||151,865|
Page 7
## **THE SHAAREI CHESED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025**
|**3.**
**GRANTS PAYABLE**
**2025**
**£**
Grantmaking
150,555
The total grants paid to institutions during the year was as follows:
**2025**
**£**
Advancement of religion
860
Advancement of education
5,090
Relief of poverty
1,950
Social welfare
400
Medical
-
General purpose
-
8,300
The total grants paid to individuals during the year was as follows:
**2025**
**£**
Relief of poverty
142,255
**4.**
**SUPPORT COSTS**
**Governance**
**Finance**
**costs**
**£**
**£**
Support
110
1,200
Support costs, included in the above, are as follows:
**Finance**
**2025**
**Support**
**£**
Bank charges
110
**Governance costs**
**2025**
**Support**
**£**
Independent examiner's fee
600
Independent examiner's other fees
600
General expenses
-
1,200|**2024**
**£**
103,729
**2024**
**£**
16,950
1,905
1,670
300
75
80
20,980
**2024**
**£**
82,749
**Totals**
**£**
1,310
**2024**
**Total**
**activities**
**£**
1,243
**2024**
**Total**
**activities**
**£**
480
540
496
1,516|
|---|---|
Page 8
## **THE SHAAREI CHESED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025**
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 September 2025 nor for the year ended 30 September 2024.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30 September 2025 nor for the year ended 30 September 2024.
## **6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**6.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|
|**2025**
**£**
Other debtors
12,500
**7.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2025**
**£**
Bank loans and overdrafts (see note 9)
2,700
Other creditors
4,200
6,900
**8.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
**2025**
**£**
Bank loans (see note 9)
225
**9.**
**LOANS**
An analysis of the maturity of loans is given below:
**2025**
**£**
Amounts falling due within one year on demand:
Bank loans
2,700
Amounts falling due between two and five years:
Bank loans - 2-5 years
225
**10.**
**MOVEMENT IN FUNDS**
**Net**
**At**
**movement**
**1.10.24**
**in funds**
**£**
**£**
**Unrestricted funds**
General fund
33,349
2,958
**TOTAL FUNDS**
33,349
2,958||**2024**
**£**
9,500|
||**2024**
**£**
2,700
1,020
3,720
**2024**
**£**
2,925
**2024**
**£**
2,700
2,925
**At**
**30.9.25**
**£**
36,307|**2024**
**£**
2,700
1,020|
|||3,720|
|||**2024**
**£**
2,925|
|||**2024**
**£**
2,700|
|||2,925|
||36,307||
Page 9
## **THE SHAAREI CHESED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025**
## **10. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Incoming**
**resources**
**£**
**Unrestricted funds**
General fund
161,238
**TOTAL FUNDS**
161,238
**Comparatives for movement in funds**
**At**
**1.10.23**
**£**
**Unrestricted funds**
General fund
12,692
**TOTAL FUNDS**
12,692
Comparative net movement in funds, included in the above are as follows:
**Incoming**
**resources**
**£**
**Unrestricted funds**
General fund
127,145
**TOTAL FUNDS**
127,145|**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(158,280)
2,958
(158,280)
2,958
**Net**
**movement**
**At**
**in funds**
**30.9.24**
**£**
**£**
20,657
33,349
20,657
33,349
**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(106,488)
20,657
(106,488)
20,657|
|---|---|
## **11. RELATED PARTY DISCLOSURES**
The charity received unrestricted donations of £7,7500 (2024: £2,500) from Torah Temimah Trust, a charity with trustees in common. Grants totalling £29,150 (2024: £12,154) were made to relatives of the trustees.
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