REGISTERED CHARITY NUMBER: 803419
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
SHAAREI TZEDAKAH TRUST
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
SHAAREI TZEDAKAH TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
SHAAREI TZEDAKAH TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. 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 in particular the relief of poverty, but also for general charitable purposes in any part of the world as trustees see fit and are recognised by the law of England and Wales as charitable.
Public benefit
The Trustees have taken due heed of their obligations relating to Public Benefit Duty affecting charities, as well as to their obligations under the Equalities Act 2010. The Trustees are satisfied that they meet their obligations.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The trustees are pleased with the results of the charity's activities during the year. During the year the charity received a total of £168,337 (2023£161,995). Donations of £82.000 (2023 -£72,964) and investment income of £86,337 (2023-£89,031).The trustees are delighted to report they were able to distribute £214,210 (2023- £169,980) of funds as grants.
FINANCIAL REVIEW
Reserves policy
The trustees do not seek to maintain reserves, other than to ensure they can continue the activities of the charity. As a result of having raised substantial funds during previous years, the trustees consider themselves in a position to ensure that the level of grants and donations may best be secured for the future by investment of the funds raised and they have been seeking further investment opportunities to realise this aim. In the interim, the funds have been held on deposit account.
FUTURE PLANS
There are no current plans to change the activities or modus operandi in the foreseeable future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document a declaration of trust and constitutes an unincorporated charity.
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 select suitable recruitment and training procedures.
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.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
803419
Principal address
58 Chardmore Road London London N16 6JH
Page 1
SHAAREI TZEDAKAH TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees S Gross Mrs S Gross L Braver
Independent Examiner
M A Venitt A.C.A Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 17 October 2025 and signed on its behalf by:
S Gross - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHAAREI TZEDAKAH TRUST
Independent examiner's report to the trustees of SHAAREI TZEDAKAH TRUST
I report to the charity trustees on my examination of the accounts of SHAAREI TZEDAKAH TRUST (the Trust) for the year ended 31 December 2024.
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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
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.
M A Venitt A.C.A
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
17 October 2025
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SHAAREI TZEDAKAH TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds 3 Charitable activities Grants and Donations Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.12.24 Unrestricted fund £ 82,000 86,337 168,337 - 214,210 2,190 216,400 (48,063) 1,513,907 1,465,844 |
31.12.23 Total funds £ 72,964 89,031 161,995 345 169,980 2,063 172,388 (10,393) 1,524,300 1,513,907 |
|---|---|---|
The notes form part of these financial statements
Page 4
SHAAREI TZEDAKAH TRUST
BALANCE SHEET 31 DECEMBER 2024
| Notes FIXED ASSETS Investment property 6 CURRENT ASSETS Debtors 7 Investments 8 Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 10 Unrestricted funds TOTAL FUNDS |
31.12.24 Unrestricted fund £ 135,000 998,976 300,000 34,028 1,333,004 (2,160) 1,330,844 1,465,844 1,465,844 1,465,844 1,465,844 |
31.12.23 Total funds £ 135,000 998,976 300,000 81,971 1,380,947 (2,040) 1,378,907 1,513,907 1,513,907 1,513,907 1,513,907 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 17 October 2025 and were signed on its behalf by:
S Gross - Trustee
L Braver - Trustee
The notes form part of these financial statements
Page 5
SHAAREI TZEDAKAH TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
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
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.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from 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.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.12.24 | 31.12.23 | |
| £ | £ | |
| Rents received | - | 2,827 |
| Deposit account interest | 86,337 | 86,204 |
| 86,337 | 89,031 |
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continued...
SHAAREI TZEDAKAH TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
3. RAISING FUNDS
Investment management costs
| Investment management costs | ||
|---|---|---|
| 31.12.24 | 31.12.23 | |
| £ | £ | |
| Rent collection | - | 345 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable activities Grants and Donations Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 72,964 89,031 161,995 345 169,980 2,063 172,388 (10,393) 1,524,300 1,513,907 |
|---|---|
continued...
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SHAAREI TZEDAKAH TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
6. INVESTMENT PROPERTY
| FAIR VALUE At 1 January 2024 and 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors 8. CURRENT ASSET INVESTMENTS Unlisted investments 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 10. MOVEMENT IN FUNDS At 1.1.24 £ Unrestricted funds General fund 1,513,907 TOTAL FUNDS 1,513,907 |
31.12.24 £ 4,975 994,001 998,976 31.12.24 £ 300,000 31.12.24 £ 2,160 Net movement in funds £ (48,063) (48,063) |
£ 135,000 |
||||
|---|---|---|---|---|---|---|
| 135,000 | ||||||
| 135,000 | ||||||
| 31.12.23 £ 4,975 994,001 |
||||||
| 998,976 | ||||||
| 31.12.23 £ 300,000 |
||||||
| 31.12.23 £ 2,040 At 31.12.24 £ 1,465,844 |
||||||
| 1,465,844 |
continued...
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SHAAREI TZEDAKAH TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
10. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 168,337 TOTAL FUNDS 168,337 Comparatives for movement in funds At 1.1.23 £ Unrestricted funds General fund 1,524,300 TOTAL FUNDS 1,524,300 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 161,995 TOTAL FUNDS 161,995 A current year 12 months and prior year 12 months combined position is as follows: At 1.1.23 £ Unrestricted funds General fund 1,524,300 TOTAL FUNDS 1,524,300 |
Resources expended £ (216,400) (216,400) Net movement in funds £ (10,393) (10,393) Resources expended £ (172,388) (172,388) Net movement in funds £ (58,456) (58,456) |
Movement in funds £ (48,063) (48,063) At 31.12.23 £ 1,513,907 1,513,907 Movement in funds £ (10,393) (10,393) At 31.12.24 £ 1,465,844 1,465,844 |
|
|---|---|---|---|
continued...
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SHAAREI TZEDAKAH TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 330,332 330,332 |
Resources Movement expended in funds £ £ (388,788) (58,456) (388,788) (58,456) |
|---|---|---|
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
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