2025-11-30-accounts

REGISTERED CHARITY NUMBER: 328498

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

FRIENDS OF SANZ INSTITUTIONS

Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL

FRIENDS OF SANZ INSTITUTIONS

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025

		Page
Reference and Administrative Details		1
Report of the Trustees	2	to	4
Statement of Trustees' Responsibilities		5
Report of the Independent Auditors	6	to	8
Statement of Financial Activities		9
Statement of Financial Position	10	to	11
Statement of Cash Flows		12
Notes to the Statement of Cash Flows		13
Notes to the Financial Statements	14	to	22

FRIENDS OF SANZ INSTITUTIONS

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 NOVEMBER 2025

TRUSTEES D Klein J Klein E Reich I Reich PRINCIPAL ADDRESS 124 Stamford Hill London N16 6QT REGISTERED CHARITY 328498 NUMBER INDEPENDENT AUDITORS Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL

Page 1

FRIENDS OF SANZ INSTITUTIONS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2025

The trustees present their report with the financial statements of the charity for the year ended 30 November 2025. The trustees have adopted the provisions of 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

Objectives and aims

The charity's objects are:

1. The relief of poverty,

2. To advance the religion of the Jewish faith in accordance with the Orthodox practice,

3. To advance Orthodox Jewish education,

4. Such other purposes as are recognised by the law of England and Wales as charitable.

The financial results of the charity's activities for the year ended 30 November 2025 are fully reflected in the attached financial statements together with the notes thereon.

Significant activities

During the year under review, the charity continued to receive donations income and generate rental income from its properties. These funds were mainly used to provide donations to various charitable institutions which match and support the charity's objectives.

During the period the donations made by the charity were used to support further education programs, support initiatives that help families in poverty, pay medical bills for individuals in need and fund community centre building projects.

Public benefit

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning the charity's future activities.

Donations made

Donations are made to charitable institutions, organisations and authorised individuals which accord with the objects of the charity.

Volunteers

The charity is ran solely by volunteers and the Trustees, none of the charity's work was undertaken by paid employees in the period.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

During the year under review the charity received generous donations amounting to £1,534,536 (2024: £1,335,008) and generated rental income of £78,917 (2024: £90,124). These funds were spent in their entirety to further the charity’s objectives via increasing future available funds, providing support to institutions that match the charity's objectives or paying the required administrative costs of the charity to allow it to continue to operate.

Fundraising activities

No significant fundraising events held by the charity in the period.

Key Performance Indicators

The trustees are satisfied with the results and activities of the charity for the financial year.

The trustees monitor the entity's performance against its charitable objectives on a regular basis. Performance is assessed against the objectives and expectations using financial and non-financial indicators. The key financial performance indicators used by the charity are donations income, investment income and expenditure on charitable activities.

FINANCIAL REVIEW

Principal funding sources

The charity is funded by donations received and rental income generated by it's properties.

Page 2

FRIENDS OF SANZ INSTITUTIONS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2025

FINANCIAL REVIEW

Investment policy and objectives

The charity invests in assets which the Trustees believe will provide consistent future funding for the charity to use to support its charitable objectives. A new property was purchased by the charity in the period that falls in line with this policy.

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.

As at 30.11.2025 the charity’s unrestricted funds were £4,923,009 (2024: £4,765,762).

Going concern

The trustees believe the charity has adequate support, reserves and assets to continue operational existence for the foreseeable future. The entity's rental income remains reasonably consistent and reliable year on year and the charity has a significant asset position that can be used to provide emergency funding if and when required. Finally, the charity has significant control over a large portion of its outgoings by managing the funds paid out in the form of donations each period. For these reasons, no significant doubts have been noted and the charity has adopted the going concern basis of accounting in preparing the annual financial statements.

FUTURE PLANS

There are no current plans to change the activities or modus operandi of the charity for the foreseeable future.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is constituted and governed by a Trust Deed dated 19th February 1990 and supplemental Deed dated 18th December 2000.

Recruitment and appointment of new trustees

It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.

Organisational structure

There are four trustees, the trustees are deemed to be Key Management Personnel. They meet on a regular basis to discuss the affairs of the charity. All decisions are based on a majority decision of the trustees but in almost all cases the votes are unanimous.

Related parties

Details of transactions with related parties are disclosed in the notes to the financial statements where required.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Systems of internal controls are designed to provide reasonable, but not absolute, assurance against material misstatement or loss.

The trustees pay particular attention to the financial sustainability. The trustees regularly review the available funding sources to ensure that the charity has sufficient liquid funds to meet its short term working capital needs and sustainable funding sources to meet its mid to long term obligations.

The principle risks are financial including items such as loss of rental income or a decrease in donations received. These risks are managed by the trustees continuing to assess the level of donations paid out each period to ensure the charity always has a suitable level of reserves to mitigate these risks.

Page 3

FRIENDS OF SANZ INSTITUTIONS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2025

Approved by order of the board of trustees on 24 August 2026 and signed on its behalf by:

D Klein - Trustee

Page 4

FRIENDS OF SANZ INSTITUTIONS

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 30 NOVEMBER 2025

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;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in 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 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.

Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF FRIENDS OF SANZ INSTITUTIONS

Opinion

We have audited the financial statements of FRIENDS OF SANZ INSTITUTIONS (the 'charity') for the year ended 30 November 2025 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, 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 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

• give a true and fair view of the state of the charity's affairs as at 30 November 2025 and of its incoming resources and application of resources, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

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 Auditors' 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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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 statements, 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 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 where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

• the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or

• sufficient accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records and returns; or

• we have not received all the information and explanations we require for our audit.

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF FRIENDS OF SANZ INSTITUTIONS

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which 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.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors 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 a Report of the Independent Auditors 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:

• 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 and charity legislation as being most significant to these financial statements. These included but were not limited to FRS 102, Charities SORP and Charities Act 2011 as they affect the direct charitable activities of the charity.

• 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. Specific areas identified were the recognition of income and management override.

• 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. We performed appropriate audit testing on the recognition of income and the risk of management override, specifically around journals posted in the period.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF FRIENDS OF SANZ INSTITUTIONS

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 auditors' 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.

Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL

24 August 2026

Malcolm Venitt – Senior Statutory Auditor

Page 8

FRIENDS OF SANZ INSTITUTIONS

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2025

Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Raising funds Raising donations and legacies 4 Investment management costs 5 Charitable activities 6 Charitable activities Other Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted funds £ 694,136 83,349 777,485 6,950 38,009 44,959 567,179 8,100 620,238 - 157,247 4,765,762 4,923,009	Restricted fund £ 840,400 - 840,400 - - - 763,912 - 763,912 - 76,488 - 76,488	30.11.25 Total funds £ 1,534,536 83,349 1,617,885 6,950 38,009 44,959 1,331,091 8,100 1,384,150 - 233,735 4,765,762 4,999,497	30.11.24 Total funds as restated £ 1,335,008 93,922
				1,428,930
				- 35,208
				35,208 1,051,693 6,360
				1,093,261
				1,258,883
				1,594,552 3,171,210
				4,765,762

The notes form part of these financial statements

Page 9

FRIENDS OF SANZ INSTITUTIONS

STATEMENT OF FINANCIAL POSITION 30 NOVEMBER 2025

Notes FIXED ASSETS Tangible assets 12 Investment property 13 CURRENT ASSETS Debtors 14 Cash at bank CREDITORS Amounts falling due within one year 15 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year NET ASSETS	30.11.25 £ 2,395,000 2,116,761 4,511,761 720,023 306,245 1,026,268 (442,216) 584,052 5,095,813 (96,316) 4,999,497	30.11.24 as restated £ 2,395,000 1,750,000 4,145,000 720,023 483,032 1,203,055 (434,577) 768,478 4,913,478 (147,716) 4,765,762

The notes form part of these financial statements

continued...

Page 10

FRIENDS OF SANZ INSTITUTIONS

STATEMENT OF FINANCIAL POSITION - continued 30 NOVEMBER 2025

FUNDS 19 Unrestricted funds: General fund Revaluation Reserve Restricted funds: Restricted Funds (Donations) TOTAL FUNDS	2,684,435 2,238,574 4,923,009 76,488 4,999,497	2,527,188 2,238,574
		4,765,762
		-
		4,765,762

The financial statements were approved by the Board of Trustees and authorised for issue on 24 August 2026 and were signed on its behalf by:

D Klein - Trustee

J Klein - Trustee

E Reich - Trustee

I Reich - Trustee

The notes form part of these financial statements

Page 11

FRIENDS OF SANZ INSTITUTIONS

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 NOVEMBER 2025

Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Purchase of investment property Interest received Net cash used in investing activities Cash flows from financing activities Loan repayments in year Net cash used in financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period	30.11.25 £ 241,944 (11,741) 230,203 - (366,761) 4,432 (362,329) (44,661) (44,661) (176,787) 483,032 306,245	30.11.24 as restated £ 343,805 (15,535) 328,270 (95,000) - 3,798 (91,202) (41,743) (41,743) 195,325 287,707 483,032

The notes form part of these financial statements

Page 12

FRIENDS OF SANZ INSTITUTIONS

NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 NOVEMBER 2025

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

			30.11.25	30.11.24
				as restated
			£	£
	Net income for the reporting period (as per the Statement of Financial
	Activities)		233,735	1,594,552
	Adjustments for:
	Losses on investments		-	(1,258,883 )
	Interest received		(4,432)	(3,798)
	Interest paid		11,741	15,535
	Increase/(decrease) in creditors		900	(3,601)
	Net cash provided by operations		241,944	343,805
2.	ANALYSIS OF CHANGES IN NET FUNDS
		At 1.12.24	Cash flow	At 30.11.25
		£	£	£
	Net cash
	Cash at bank	483,032	(176,787)	306,245
		483,032	(176,787)	306,245
	Debt
	Debts falling due within 1 year	(49,120)	(6,738)	(55,858)
	Debts falling due after 1 year	(147,716)	51,400	(96,316)
		(196,836)	44,662	(152,174)
	Total	286,196	(132,125)	154,071

The notes form part of these financial statements

Page 13

FRIENDS OF SANZ INSTITUTIONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 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 as modified by the revaluation of certain assets. 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 £.

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.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Rental income is measured at the fair value of the consideration received or receivable, excluding discounts and rebates.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Cash

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts.

Governance costs

Governance costs are associated with the governance arrangements of the charity and relate to the general running of the charity. These costs include audit, legal advice for Trustees and costs associated with meeting constitutional and statutory requirements such as the cost of Trustee meetings and the preparation of the statutory accounts.

Tangible fixed assets

Freehold property is measured at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

If an event occurs which indicates a material reduction in a fixed asset's value, an impairment review will be carried out. Any impairment charge is recognised in the statement of financial activities.

Assets under construction are held at cost and there is no depreciation of the accumulated costs until the project is completed and the asset is placed into service.

Investment property

Investment property is measured at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

continued...

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FRIENDS OF SANZ INSTITUTIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2025

1. ACCOUNTING POLICIES - continued

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Going concern

At the time of approving the financial statements, the trustees believe the charity has adequate and consistent income streams, reserves and support to continue operational existence for the foreseeable future. For these reasons, no significant doubts have been noted and the charity has adopted the going concern basis of accounting in preparing the annual financial statements.

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 Statement of Financial Position 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.

2. DONATIONS AND LEGACIES

General Donations 3. INVESTMENT INCOME Rents received Deposit account interest 4. RAISING DONATIONS AND LEGACIES Fundraising	30.11.25 £ 1,534,536 30.11.25 £ 78,917 4,432 83,349 30.11.25 £ 6,950	30.11.24 as restated £ 1,335,008 30.11.24 as restated £ 90,124 3,798 93,922 30.11.24 as restated £ -

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continued...

FRIENDS OF SANZ INSTITUTIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2025

5. INVESTMENT MANAGEMENT COSTS

30.11.25 £ Property repairs 11,476 Insurance 4,983 Light and heat 5,656 Legal and professional fees 3,997 Post and stationery 156 Interest payable and similar charges 11,741 38,009 6. CHARITABLE ACTIVITIES COSTS Charitable activities 7. SUPPORT COSTS Other resources expended	30.11.24 as restated £ 7,983 5,595 6,050 - 45 15,535 35,208 Direct Costs £ 1,331,091 Governance costs £ 8,100

8. AUDITORS' REMUNERATION

Fees payable to the charity's auditors for the audit and creation of the charity's financial statements are £6,750 plus VAT.

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 November 2025 nor for the year ended 30 November 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 November 2025 nor for the year ended 30 November 2024.

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continued...

FRIENDS OF SANZ INSTITUTIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2025

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Investment management costs Charitable activities Charitable activities Other Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	ACTIVITIES Unrestricted funds £ 749,008 93,922 842,930 35,208 35,208 465,693 6,360 507,261 1,258,883 1,594,552 3,171,210 4,765,762	Restricted fund £ 586,000 - 586,000 - - 586,000 - 586,000 - - - -	Total funds as restated £ 1,335,008 93,922
			1,428,930
			35,208
			35,208 1,051,693 6,360
			1,093,261
			1,258,883
			1,594,552 3,171,210
			4,765,762

11. PRIOR YEAR ADJUSTMENT

During the period the charity identified that a number of historic transactions had been erroneously posted as loan debtors and donations received rather than being correctly netted off against each other. In addition, a number of current year and historic donations received had been erroneously posted as loan debtor repayments rather than donations income. As a result unrestricted reserves and other debtors have been overstated in the financial statements for a number of years. The error has been corrected by restating each of the affected financial statement line items for the current and prior periods. The comparative periods donations income was increased by £25,000, the comparative periods other debtor balance was decreased by £161,223 and the comparative periods opening unrestricted reserves balance was decreased by £186,223. Finally, the £28,000 loan debtor repayment posted in current year has been transferred to unrestricted donations income in-line with the transactions correct nature and purpose.

continued...

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FRIENDS OF SANZ INSTITUTIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2025

12. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
		Assets
	Freehold	under
	property	Construction	Totals
	£	£	£
COST OR VALUATION
At 1 December 2024 and 30 November 2025	2,300,000	95,000	2,395,000
NET BOOK VALUE
At 30 November 2025	2,300,000	95,000	2,395,000
At 30 November 2024	2,300,000	95,000	2,395,000
Cost or valuation at 30 November 2025 is represented by:
		Assets
	Freehold	under
	property	Construction	Totals
	£	£	£
Valuation in 2024	1,258,883	-	1,258,883
Valuation in 2009	300,000	-	300,000
Cost	741,117	95,000	836,117
	2,300,000	95,000	2,395,000
If the freehold property had not been revalued it would have been included at the		following historical	cost:
		30.11.25	30.11.24
			as restated
		£	£
Cost		741,117	741,117
Aggregate depreciation		(351,035)	(336,213)
Freehold property was valued on a fair value basis on 30 November 2025 by the		Trustees.
INVESTMENT PROPERTY
			£
FAIR VALUE
At 1 December 2024			1,750,000
Additions			366,761
At 30 November 2025			2,116,761
NET BOOK VALUE
At 30 November 2025			2,116,761
At 30 November 2024			1,750,000

13. INVESTMENT PROPERTY

continued...

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FRIENDS OF SANZ INSTITUTIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2025

13. INVESTMENT PROPERTY - continued

Fair value at 30 November 2025 is represented by:

Fair value at 30 November 2025 is represented by:
Valuation in 2023 Cost	£ 979,691 1,137,070
	2,116,761

If the investment properties had not been revalued they would have been included at the following historical cost:

30.11.25 £ Cost 1,137,070 Aggregate depreciation 304,168 Investment properties were valued on a fair value basis on 30 November 2025 by the Trustees. 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.11.25 £ Other debtors 720,023 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.11.25 £ Bank loans and overdrafts (see note 16) 55,858 Other creditors 386,358 442,216 16. LOANS An analysis of the maturity of loans is given below: 30.11.25 £ Amounts falling due within one year on demand: Bank loans 55,858 Amounts falling between one and two years: Bank loans - 1-2 years 38,772 Amounts falling due between two and five years: Bank loans - 2-5 years 57,544 Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal -	a	30.11.24 s restated £ 770,309	30.11.24 s restated £ 770,309
		285,705
	a a a	30.11.24 s restated £ 720,023
		30.11.24 s restated £ 49,120 385,457
		434,577
		30.11.24 s restated £ 49,120 49,120 70,167 28,429
			49,120
			70,167
			28,429

continued...

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FRIENDS OF SANZ INSTITUTIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2025

16. LOANS - continued

The total bank loan balance as at 30th November 2025 includes a COVID bounceback loan totalling £11,294. The loan is unsecured, 100% guaranteed by the Government and interest is charged at 2.5%.

17. SECURED DEBTS

The following secured debts are included within creditors:

	30.11.25	30.11.24
		as restated
	£	£
Bank Loans	140,880	175,367

Two of the three bank Loans outstanding are secured by first charges over the charity's properties, these bank loans bear interest at variable rates and have fixed repayment terms.

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets Investments Current assets Current liabilities Long term liabilities MOVEMENT IN FUNDS Unrestricted funds General fund Revaluation Reserve Restricted funds Restricted Funds (Donations) TOTAL FUNDS	Unrestricted funds £ 2,395,000 2,116,761 949,780 (442,216) (96,316) 4,923,009	Restricted fund £ - - 76,488 - - 76,488 At 1.12.24 £ 2,527,188 2,238,574 4,765,762 - 4,765,762	30.11.25 Total funds £ 2,395,000 2,116,761 1,026,268 (442,216) (96,316) 4,999,497 Net movement in funds £ 157,247 - 157,247 76,488 233,735	30.11.24 as restated Total funds £ 2,395,000 1,750,000 1,203,055 (434,577) (147,716) 4,765,762 At 30.11.25 £ 2,684,435 2,238,574 4,923,009 76,488 4,999,497

19. MOVEMENT IN FUNDS

continued...

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FRIENDS OF SANZ INSTITUTIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2025

19. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources resources expended £ £ Unrestricted funds General fund 777,485 (620,238) Restricted funds Restricted Funds (Donations) 840,400 (763,912) TOTAL FUNDS 1,617,885 (1,384,150 ) Comparatives for movement in funds Net At movement 1.12.23 in funds £ £ Unrestricted funds 3,171,210 1,594,552 TOTAL FUNDS 3,171,210 1,594,552 Comparative net movement in funds included in the above are as follows: Incoming Resources Gains and resources expended losses £ £ £ Unrestricted funds 842,930 (507,261) 1,258,883 Restricted fund Restricted Funds (Donations) 586,000 (586,000) - TOTAL FUNDS 1,428,930 (1,093,261 ) 1,258,883 A current year 12 months and prior year 12 months combined position is as follows: Net At movement 1.12.23 in funds £ £ Unrestricted funds 3,171,210 1,751,799 Restricted fund Restricted Funds (Donations) - 76,488 TOTAL FUNDS 3,171,210 1,828,287

Movement in funds £ 157,247 76,488 233,735 At 30.11.24 £ 4,765,762 4,765,762 Movement in funds £ 1,594,552 - 1,594,552 At 30.11.25 £ 4,923,009 76,488 4,999,497

continued...

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FRIENDS OF SANZ INSTITUTIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2025

19. MOVEMENT IN FUNDS - continued

Net movement in funds included in the above are as follows:

Unrestricted funds Restricted fund Restricted Funds (Donations) TOTAL FUNDS	Incoming resources £ 1,620,415 1,426,400 3,046,815	Resources expended £ (1,127,499 ) (1,349,912 ) (2,477,411 )	Gains and losses £ 1,258,883 - 1,258,883	Movement in funds £ 1,751,799 76,488 1,828,287

20. RELATED PARTY DISCLOSURES

As at 30th November 2025 Friends Of Sanz Institutions was owed £720,023 from Round Island Ltd, an entity which shares two Trustees with Friends Of Sanz Institutions (Mr I Reich and Mr D Klein).

In addition, throughout the period ending 30th November 2025 a number of transactions were recognised between Friends Of Sanz Institutions and entities which share a Trustee or Director with Friends Of Sanz Institutions (Mr I Reich or Mr D Klein), these transactions have been summarised below:

Kollel Shefa Chaim:

Friends Of Sanz Institutions made donations totalling £10,450 to this entity,

Gilderton Properties Ltd:

Friends Of Sanz Institutions received donations totalling £10,500 from this entity,

Craven Park Estates Limited:

Friends Of Sanz Institutions received donations totalling £315 from this entity,

Peaktop Ltd:

Friends Of Sanz Institutions received donations totalling £28,250 from this entity,

Shefarav Ltd:

Friends Of Sanz Institutions received donations totalling £400 from this entity,

Langworthy Ltd:

Friends Of Sanz Institutions received donations totalling £28,000 from this entity,

K & K Estates Ltd:

Friends Of Sanz Institutions received rental income totalling £2,600 and donations totalling £3,190 from this entity.

No other related party transactions have been noted during the period ended 30th November 2025.

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