FRIENDS OF ASCENT CHARITY REGISTRATION NUMBER: 328625 Accounts for the financial year 1st January 2024 to 31st December 2024 Contents Page I Trustees Report Page 2 Independent Examiners Report Page 3 Statement of Financial Activities and Balance Sheet Page 4 Notes to the Accounts
FRIENDS OF ASCENT TRUSTEES ANNUAL REPORT for tbe fAnancial year 1st January 2024 to 31st December 2024 Address The principal address of the charity is 98 Mowbray Road, EdgwaTe, Middlesex, HA8 8JH Structure, Governance and Management The charity is governed by a trust deed and is registered with the Charity Commission under number 328625. The trustees, who meet at regular intervals, administer the charity and manage the day to day operations. Trustees The trustees during the year were: Mr. Stephen Chevern Mr. Lawrence Briendel Rabbi Shaul Leiter Objeetives and Activities The objective and activities of the trust is the raising of funds by making personal approaches to prospective donors who want to give financial assistance to support the charity 'Ascent' in its educational program in Tsfat, Israel and its endeavours to further religious observance and Jewish Education. Achievements and Performance The objectives were achieved by raising donations to the amount ststed in the accounts and making grants to the charity 'Ascent' in Israel. All fund raising and administration was done on a voluntary basis mainly by personal approaches from Rabbi Shaul Leiter. Financial Report During the year, donation income in the sum of £210,036 was received and £229,800 was passed over to Ascent in Israel towards supporting that charity. At 31 Dccember 2024 a sum of £5,260 was held in reserve in the bank current account. Declaration The trustees approved the trustees report on 30 March 2025. Signed Stephen Chcvern Chair of trustees Page I
FRIENDS OF ASCENT Independent Examiner's Report to the Trustees of Friends of Ascent I report on the accounts of th¢ trust for the year ended 31 December 2024, which are set out on pages 34. Respective responsibilities of trustees and examiner The trustees are responsible for the preparation of th¢ accoiu]ts. The charity's tnistees consider that an audit is not required under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed. Tt is my responsibility to: -examine tlie accounts under section 43 of th¢ 1993 Act. -to follow tlic procedures laid down in the gcneral Directions given by the Charity Commission under section 43(7)(b) of the 1993 Act. and -to state whether particular matters have coine to my attention. Basis of independent examiner's report My examination was Caled out in accordance with the gcneral Directions given by the Charity Commissioners. An examination includes a review of the accounting records Icept by the ClrItY and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seekingT explanations from yoii as trustees concerning any sucli matters. The procedures undertaken do not provide all the evidence that would be required in an audit aiid consequently no opinion LS giveii as to whether the accoiints present a 'true and fair view, and the report is limited to those mattcrs sct out in thc statement below. Independent examlner's statement In connection with my examinatÉon, no matter has come to my attention (i) which gives me reasonable caiis¢ to believe that in any material respect the requirements: to keep accounting records in accordance with section 41 of the 1993 to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act. have not been met- or (2) to which, in my opinion, attention shoiild be drawn in order to enable a proper understanding of the accounts to bc rcached. SigrAed Date 31 March 2025 Name J. B. Cheng FCCA Chartcred Certified Accountant 38 Connaught Avenue Enfield ENI 3BG Page 2
FRIENDS OF ASCENT REGISTERED CHARITY- No. 328625 Statement of Financial Activities for the year ended 31 December 2024 Total Funds unrestricted Total Funds unrestricted 2024 2023 Incomlng resources from generated funds Donations Received Gift Aid refunds Interest 210,036 14,538 644 121,533 TOTAL INCOME 225,218 121,533 Resources expended Cost of generating funds Charitable Activity Costs: Charitable Donations to Ascent Governance Costs Bank Charges Totsl Resources Expended Net incoming/Outgoing) resources for the year 229,800 372 123,000 335 230,172 (4,954) 123,335 (1,802) Surplus brought forward 10,209 12,011 Surplus Carried Forward 5,255 10,209 BALANCE SHEET AS AT 31st DECEMBER 2024 2024 2023 ASSETS Current assets Bank Accounts 5,260 10,214 LIABILITIES NET ASSETS 5,260 10,214 REPRESENTED BY: Unrestrlcted Funds Trust Fund Surplus 5,255 10,209 Fund at Year End 5,260 10,214 S. Chevem Trustee 30 March 2025 Page 3
FRIENDS OF ASCENT Notes to the Accounts I. ACCOUNTING POLICIES (a) Basis of accounting The fmancial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities and the charities SORP. (b ) Incoming Resources Donations are credited to the Statement of Financial Activities (SOFA) in the period in which the donations are received. (d ) Taxation The company is a Registered Charity (No. 328625) and is exempt from taxation insofar as its income is applied for charitable purposes. 2 Voluntary Xncome The amount relates to general donations received in response to public and private appeals. Page 4