2025-04-05-accounts

Charity number: 802579

THE ISRAEL LAZARUS CHARITABLE TRUST UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

THE ISRAEL LAZARUS CHARITABLE TRUST

CONTENTS

	Page
Reference and administrative details of the Trust, its Trustees and advisers	1
Trustees' report	2 - 4
Independent examiner's report	5
Statement of financial activities	6
Balance sheet	7
Notes to the financial statements	8 - 16

THE ISRAEL LAZARUS CHARITABLE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE TRUST, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2025

Trustees	David Winton, Chair
	Alan Lee
	Sam Lipton
Charity registered
number	802579
Principal office	Lawford House
	Albert Place
	London N3 1QA
Accountants	Sterlings Limited
	Chartered Accountants
	Lawford House
	Albert Place
	London N3 1QA
Bankers	Barclays Bank Plc
	147 Holborn
	Chancery Lane
	London
	EC1N 2NU

Page 1

THE ISRAEL LAZARUS CHARITABLE TRUST TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2025

The Trustees present their annual report together with the financial statements of the Trust for the period from 6 April 2024 to 5 April 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the accounts and comply with the Charity's Trust Deed, the Charities Act 2011 and the relevant version of the 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).

Objectives and activities

a. Policies and objectives

The aim of the Trust is to provide charitable donations to any charity, of any amount, as approved by the Trustees.

The principal means of achieving the Trust's objectives is by drawing on the trust income and its capital which is derived from the substantial investments held. There has been no change to the policies adopted in furtherance of these objects during the year.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Grants to charitable organisations are made at the absolute discretion of the Board of Trustees.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit.

b. Reserves policy

The net assets of the Trust’s unrestricted funds of £1,124,133 (2024: £1,300,016) are held to generate sustainable income in order to support the Foundation’s activities. Additionally, they are used to be applied towards the Trust’s grant making activities and meet the Trust’s ongoing overheads and administrative expenses.

The Trust is committed to using its resources in pursuit of its charitable objectives. It is also committed to maintaining a certain level of free reserves, which is prudent to meet on-going liabilities, sufficient to ensure that all grant commitments can be met and to protect the long-term future of the Trust’s activities. The Trustees consider that the total closing unrestricted funds of £1,124,133 (2024: £1,300,016) are adequate for its size of activities at the year end.

c. Investments policy

The Trustees have the power to invest funds in any manner, but only after obtaining such advice from a financial expert as the Trustees consider necessary and having regard to the suitability of the investments and need for diversification.

The Trustees have appointed Investec Wealth and Investment Limited to manage the investment portfolio on a discretionary basis. The trustees regularly review the portfolio with the investment manager.

It is the policy of the Trust to maintain its funds in long and medium term investments and to generate regular income to meet its annual expenditure. In addition the Trust maintains sufficient liquid funds to respond to emergency applications for grants which may arise from time to time.

Page 2

THE ISRAEL LAZARUS CHARITABLE TRUST TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Achievements and performance

a. Main achievements of the Trust

During the year grants of £160,000 (2024: £210,000) were distributed to other charitable institutions in line with the Trust's objectives, as per note 6 to the financial statements.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Principal risks and uncertainties

The Trustees actively review the major risks which the Trust faces on a regular basis and undertake an annual review of the controls over key financial systems. The Trustees have also examined other operational and business risks which the charity faces and confirm that they have established systems to mitigate these risks.

c. Results for the year

The Trust's principal source of income continued to be that of investment income, totaling £44,211 for the year ended 5 April 2024 (2024: £46,747).

Total expenditure for the year was £174,708 (2024: £233,284), which was defrayed on grants payable to charitable institutions of £160,000 (2024: £210,000), investment management costs of £11,348 (2024: £12,244), and support and governance costs of £3,360 (2024: £11,040).

Together with a net loss on investments of £45,386 (2024: £18,218 loss), the charity reports a net movement in funds of £177,019 deficit (2024: £177,019 deficit).

Investments held at the year end were valued at their mid-market price of £1,041,896 (2024: £1,250,42), with total charitable funds of £1,124,133 (2024: £1,300,016).

Page 3

THE ISRAEL LAZARUS CHARITABLE TRUST TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Structure, governance and management

a. Constitution

The Israel Lazarus Charitable Trust is a charitable organisation governed by its Trust Deed. The Trust holds a single fund which is used for general charitable purposes.

The settlement was made on 4 December 1989 between the Settlor/Trustee, Mr Israel Lazarus and the original Trustees, Mr Gerald Lipton and Mr Adrian John Wallace.

The initial sum settled was £2,000 and 146,125 shares in London Merchant Securities Plc. On the death of Israel Lazarus the charity had assets of £355,093, subsequent to his death a further £1,123,949 was settled by the executors of his estate in accordance with his will.

b. Methods of appointment or election of Trustees

The management of the Trust is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

The Trustees that served in the year were:

David Winton, Chair Alan Lee Sam Lipton

c. Financial risk management

The Trustees have assessed the major risks to which the Trust is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Approved by order of the members of the board of Trustees and signed on their behalf by:

D I Winton Chairman

Date: 5 November 2025

Page 4

THE ISRAEL LAZARUS CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2025

Independent examiner's report to the Trustees of The Israel Lazarus Charitable Trust ('the Trust')

I report to the charity Trustees on my examination of the accounts of the Trust for the year ended 5 April 2025.

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. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Your attention is to drawn to the fact that the charity has prepared the accounts (financial statements) in accordance with the relevant version of the 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) 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 been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

Responsibilities and basis of report

As the Trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no 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 2011 Act; or

2. the accounts do not accord with those records; or 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.

Signed: Sterlings Ltd Dated: 5 November 2025

Sterlings Limited Chartered Accountants Lawford House Albert Place London N3 1QA

Page 5

THE ISRAEL LAZARUS CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025

Note Income from: Investments 3 Total income Expenditure on: Raising funds 4 Charitable activities 5 Total expenditure Net expenditure before net gains on investments Net gains on investments Net movement in funds before other recognised gains/(losses) Other recognised gains/(losses): Losses on revaluation of fixed assets Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2025 Total funds 2025 £ £ 44,211 44,211 44,211 44,211 11,348 11,348 163,360 163,360 174,708 174,708 (130,497) (130,497) 61,517 61,517 (68,980) (68,980) (106,903) (106,903) (175,883) (175,883) 1,300,016 1,300,016 (175,883) (175,883) 1,124,133 1,124,133	Total funds 2024 £ 46,747 46,747 12,244 221,040 233,284 (186,537) 27,736 (158,801) (18,218) (177,019) 1,477,035 (177,019) 1,300,016

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

The notes on pages 8 to 16 form part of these financial statements.

Page 6

THE ISRAEL LAZARUS CHARITABLE TRUST

BALANCE SHEET FOR THE YEAR ENDED 5 APRIL 2025

Note Fixed assets Investments 10 Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 13 Unrestricted funds 13 Total funds	2,443 83,394 85,837 (3,600)	2025 £ 1,041,896 82,237 1,124,133 1,124,133 - 1,124,133 1,124,133	3,243 57,381 60,624 (11,040)	2024 £ 1,250,432 49,584
				1,300,016
				1,300,016
				- 1,300,016 1,300,016

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

David Winton Chairman

Sam Lipton Trustee

Date:

The notes on pages 8 to 16 form part of these financial statements.

Page 7

THE ISRAEL LAZARUS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

1. General information

The Israel Lazarus Charitable Trust is a charitable trust registered at the Charity Commission in England and Wales with charity number 802579. The principal office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.

The financial statements are presented in Sterling (£), which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements 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 financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (2nd Edition, effective January 2019) ("Charities SORP"), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The accounts (financial statements) have been prepared to give a ‘true and fair’ view and 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 relevant version of the 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) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Israel Lazarus Charitable Trust meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

After making enquiries, the trustees' have a reasonable expectation that the charity has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

2.3 Income

All income is recognised once the Trust has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The Trust's principal source of income for the period under review was dividends and interest received on listed financial investments held within a managed investment fund. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Trust; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Page 8

THE ISRAEL LAZARUS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

2. Accounting policies (continued)

2.4 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.

Expenditure on raising funds includes all expenditure incurred by the Trust to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Trust's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is shown inclusive of irrecoverable VAT.

2.5 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

2.6 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.7 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Trust anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Page 9

THE ISRAEL LAZARUS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

2. Accounting policies (continued)

2.8 Financial instruments

The Trust has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the Trust becomes party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Trust after deducting all of its liabilities.

The Trust’s policies for its major classes of financial assets and financial liabilities are set out below.

Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of financial activities.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the Trust would receive for the asset if it were to be sold at the reporting date.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the statement of financial activities.

Page 10

THE ISRAEL LAZARUS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

2. Accounting policies (continued)

Financial instruments (continued)

Derecognition of financial assets and financial liabilities

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

2.9 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Trust and which have not been designated for other purposes.

Investment income, gains and losses are allocated to the appropriate fund.

3. Investment income

Income from local listed investments Interest receivable Total 2025	Unrestricted funds 2025 £ 43,484 728 44,212 44,212	Total funds 2025 £ 43,484 728 44,212 44,212	Total funds 2024 £ 44,449 2,298
			46,747

Page 11

THE ISRAEL LAZARUS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

4. Investment management costs

Investment management fees Total 2025	Unrestricted funds 2025 £ 11,348 11,348	Total funds 2025 £ 11,348 11,348	Total funds 2024 £ 12,244

5. Analysis of expenditure by activities

Charitable activities Total 2025 Analysis of support costs Governance costs Total 2025	Grant funding of activities 2025 £ 160,000 160,000	Support costs 2025 £ 3,600 3,600 Charitable activities 2025 £ 3,600 3,600	Total funds 2025 £ 163,360 163,360 Total funds 2025 £ 3,600 3,600	Total funds 2024 £ 221,040
				Total funds 2024 £ 11,040

Page 12

THE ISRAEL LAZARUS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

6. Analysis of grants

Ascent Beit Halochem Beit Issie Shapiro Bring them home Chabad of West Hampstead Chai Lifeline Community Service Trust Hatzola – Israel Holocaust Educational Trust Kisharon Norwood Or Chadash Piece of Mind United Synagogue University Jewish Chaplaincy University Jewish Students Western Marble Arch Synagogue World Jewish Relief Zaka Other grants to institutions of less than £5,000 each	2025 £ 5,000 30,000 5,000 - 5,000 5,000 5,000 - 50,000 5,000 5,000 5,000 5,000 - 10,000 2,500 - 5,000 - 17,500 160,000	2024 £ 10,000 30,000 10,000 10,000 5,000 5,000 5,000 10,000 45,000 5,000 5,000 5,000 10,000 10,000 20,000 5,000 5,000 10,000 5,000 210,000

7. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £3,600 (2024 - £11,040).

8. Staff costs

There were no employees under contracts of employment during the period.

No employee received remuneration amounting to more than £60,000 during the year.

9. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).

During the year, no Trustee expenses have been incurred (2024 - £NIL).

Page 13

THE ISRAEL LAZARUS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

10. Fixed asset investments

Cost or valuation At 6 April 2024 Additions Disposals Revaluations At 5 April 2024 Net book value At 5 April 2025 At 5 April 2024	Listed investments £ 1,250.432 391,330 (554,480) (45,386) 1,041,896 1,041,896 1,250,432

If listed investments had been valued under the historical cost convention they would have been included in the balance sheet at a cost of £986,532 (2024: £998,480).

11. Debtors

Due within one year Prepayments and accrued income 12. Creditors: Amounts falling due within one year Accruals and deferred income	2025 £ 2,443 2025 £ 3,600	2024 £ 3,243 2043 £ 11,040

Page 14

THE ISRAEL LAZARUS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

13. Statement of funds

Statement of funds - current year

Unrestricted funds General Funds - all funds Statement of funds - prior year Unrestricted funds General Funds - all funds	Balance at 6 April 2024 £ 1,300,016 Balance at 6 April 2023 £ 1,477,035	Income £ 44,211 Income £ 46,747	Expenditure £ (174,708) Expenditure £ (233,284)	Gains/ (Losses) £ (45,386) Gains/ (Losses) £ 9,518	Balance at 5 April 2025 £ 1,224,133 Balance at 5 April 2024 £ 1,300,016

14. Analysis of net assets between funds

Analysis of net assets between funds - current period

Fixed asset investments Current assets Creditors due within one year Total	Unrestricted funds 2025 £ 1,041,896 85,837 ( 3,600) 1,124,133	Total funds 2025 £ 1,141,896 85,837 ( 3,600) 1,124,133

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THE ISRAEL LAZARUS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

14. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior period

Fixed asset investments Current assets Creditors due within one year	Unrestricted funds 2024 £ 1,250,432 60,624 (11,040) 1,300,016	Total funds 2024 £ 1,250,432 60,624 (11,040) 1,300,016

Total

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