THE EDGWARE FOUNDATION
Charity Registration Number 803538
TRUSTEES’ REPORT
- and -
UNAUDITED ACCOUNTS
FROM 1 OCTOBER 2023
TO
30 SEPTEMBER 2024
THE EDGWARE FOUNDATION
Charity Registration Number 803538
| Contents | Page |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees’ Annual Report | 2 - 4 |
| Independent Examiner’s Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Unaudited Accounts | 8 - 12 |
Page 1
THE EDGWARE FOUNDATION
Charity Registration Number 803538
REFERENCE AND ADMINISTRATIVE DETAILS
TRUSTEES
A. Galandauer Rabbi E. Schneebalg Mrs. G. Schneebalg
REGISTERED CHARITY’S CONTACT AND PRINCIPAL ADDRESS
Rabbi E. Schneebalg 296B Hale Lane Edgware Middlesex HA8 8NP
DETAILS OF FORMATION
The Charity was created by Trust Deed on 25 April 1990 and registered with the Charity Commission on 31 May 1990 under Charity Registration Number 803538
BANKERS
National Westminster Bank plc
HONORARY INDEPENDENT EXAMINER
Stephen Sacks FCA for Shears & Partners Limited Chartered Accountants 7 Craven Park Court Craven Park Road London N15 6AA
Page 2
THE EDGWARE FOUNDATION
Charity Registration Number 803538
TRUSTEES’ ANNUAL REPORT
The Trustees of The Edgware Foundation (“the Charity”) present their Annual Report and Unaudited Accounts (“the Accounts”) of the Charity for the year from 1 October 2023 to 30 September 2024. The Accounts have been prepared in accordance with the Accounting Policies set out on Pages 8 & 9 and comply with the Charity’s Declaration of Trust and applicable law.
OBJECTIVES AND ACTIVITIES
The Trustees stand possessed of the Trust Fund upon trust to pay or apply the whole of the income and the capital of the Trust Fund to or towards or in furtherance or for the benefit of such one or more charities, charitable institutions or charitable purposes in any part of the world in such shares and in such manner as the Trustees in their absolute discretion may from time to time determine provided always that nothing herein contained shall empower or authorise the Trustees to apply any part of the Trust Fund or the income thereof other than for the purposes which are charitable according to English Law.
Monies are raised by way of Charitable Donations received from Charitable Foundations, Individuals and Other Donors. The Charity would like to thank all of its sponsors for having helped to raise the continued high level of funds required for furthering the Charity’s objects and the high level of Charitable Activities including grants and donations it was able to make. In total, the Charity received donations of some £277k (2023: £289k) during the year.
Charities and Public Benefit
The Trustees have considered the Charity Commission’s guidance on public benefit and are satisfied that the Charity complies with that guidance.
Grant Making Policy
To act according to the Declaration of Trust which enables grants and donations to be made from both income and capital. All applications to the Charity for grants, donations or loans are considered carefully by the Trustees at regular meetings. On most occasions, if the Trustees feel that the application meets their approval in principle, they will meet applicants face to face and discuss with them the most effective way of providing assistance. The Trustees usually then have a further meeting before making a decision as to whether assistance should be granted, and if so, in what form and to what level.
The Trustees find that this is the most effective way of aiding applicants as it allows them flexibility in terms of deciding whether they will assist by way of a donation or an interest free loan and also ensures that each application is considered fairly.
Page 3
THE EDGWARE FOUNDATION
Charity Registration Number 803538
TRUSTEES’ ANNUAL REPORT (Continued)
ACHIEVEMENTS AND PERFORMANCE
The Trustees continued to support educational institutions, those institutions that care for the poor and sick and other individuals who qualify as charitable beneficiaries under English Law. The Trustees have found that due to the diverse needs of the community, it is appropriate for the Charity to support other charitable organisations and individuals rather than specialise in one particular area of charitable work, such as relief of poverty or religious outreach work, on behalf of the Charity.
Grants and Donations
The level of Grants and Donations given out in the year increased (2023: decreased) on an annualized basis to some £294k (2023: £245k). A significant portion of this related to donations to individuals of some £242k (2023: £212k). The Trustees are very careful to ensure that these Grants and Donations only go to worthy individuals who fulfil/comply with the objects of the Charity and the Trustees spend a significant amount of time considering applications, as outlined in the Charity’s Grant Making and Donation Policy.
The remaining Grants and Donations made to Institutions can be summarised as follows, details of which are provided in Note 5 to the Accounts:
| 2024 | 2023 | |
|---|---|---|
| Education | 4,000 | - |
| General Charitable Purposes | 33,325 | 37,000 |
| Relief of Poverty and Welfare | - | - |
| Religious Organisations | 14,705 | - |
| £52,030 | £37,000 | |
| ===== | ==== |
FINANCIAL REVIEW
Review of the Charity’s Financial Position
The Charity’s Incoming Resources amounted to some £277k ( 2023: £289k ). Resources Expended amounted to some £294k ( 2023: £248k ) and hence there was a surplus/(deficit) for the year of some (£18k) (2023: Surplus £40k). The Charity’s Funds increased/(decreased)by the same amount (2023: increased/(decreased)) by the same amount).
Reserves Policy
The Charity continues to beneficially hold two bank accounts. The policy of the Charity is to continue holding moderately sized balances in these bank accounts and continue to make contributions from both bank accounts on an ongoing basis.
Page 4
THE EDGWARE FOUNDATION
Charity Registration Number 803538
TRUSTEES’ ANNUAL REPORT (Continued)
FINANCIAL REVIEW
Investments Policy
The Trust has two bank accounts, one of which is maintained by the Trustees, and a Client Account, which is maintained by the Charity’s Accountants for administration purposes only. These are the only investments to which the Charity has title.
Risk Management
The Trustees regularly consider the risks to which the Charity is exposed, and systems designed to mitigate those risks are considered on an ongoing basis. The two main risks identified by the Trustees are as follows:
-
Misappropriation of funds – this has been mitigated by restricting access to Charity’s funds to the Trustees and the Charity’s Accountants only and having all grant applications considered and distributed by the Trustees. All cheques require the signature of two Trustees.
-
A fall in Donations Received – the Trustees rely on the support of local individual and institutional sponsors and can only mitigate this indirectly by running the Charity efficiently, effectively and in accordance with its objects.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Edgware Foundation is a Charity created by Declaration of Trust dated 25 April 1990 and registered with the Charity Commission on 31 May 1990 under Charity Registration Number 803538.
The Trustees in office in the year were as follows:
A. Galandauer Rabbi E. Schneebalg Mrs. G. Schneebalg
The power of appointing new Trustees or a new Trustee thereof shall be exercisable by the persons who are, for the time being, the Trustees hereof.
REFERENCE AND ADMINISTRATIVE DETAILS
Reference and Administrative Details are set out on Page 1 and form part of this report.
The Trustees declare that they have approved the Trustees’ Report above.
Signed on behalf of the Trustees:
____ MRS. G. SCHNEEBALG Trustee
Date: 30 July 2025
Page 5
INDEPENDENT EXAMINER’S REPORT
TO THE TRUSTEES OF
THE EDGWARE FOUNDATION
Charity Registration Number 803538
FOR THE YEAR ENDED 30 SEPTEMBER 2024
I report to the Trustees on my examination of the Unaudited Accounts (“the Accounts”) of The Edgware Foundation (“the Charity”) for the year ended 30 September 2024.
Responsibilities and Basis of Report
As the Trustees of the Charity, 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 Accounts of the Charity carried out under Section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under Section 145(5)(b) of the 2011 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 which gives me cause to believe that in any material respect:
-
the accounting records were not kept in accordance with Section 130 of the 2011 Act; or
-
the Accounts did not accord with the accounting records; or
-
the Accounts did not comply with the applicable requirements concerning the form and content of the 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.
Stephen Sacks FCA for SHEARS & PARTNERS LIMITED Chartered Accountants
7 Craven Park Court, Craven Park Road, London N15 6AA
Date: 30 July 2025
Page 6
THE EDGWARE FOUNDATION
Charity Registration Number 803538
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR FROM 1 OCTOBER 2023 TO 30 SEPTEMBER 2024
| Note | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| INCOMING RESOURCES | |||
| Income and Endowments from: | |||
| Donations and Legacies | (4) | 277,017 | 289,428 |
| Investments | (5) | 19 | 8 |
| Total Income | (11) | 277,036 | 289,436 |
| ______ | __ | ||
| RESOURCES EXPENDED | |||
| Expenditure on: | |||
| Raising Funds | (6) | (1,442) | (1,151) |
| Charitable Activities | (7) | (293,960) | (248,459) |
| Other | (8) | - | - |
| Total Expenditure | (11) | (295,402) | (249,610) |
| ______ | __ | ||
| NET MOVEMENT IN FUNDS | (18,366) | 39,826 | |
| RECONCILIATION OF FUNDS | |||
| Total Funds/(Deficit) Brought Forward | 65,003 | 25,177 | |
| Total Funds/(Deficit) Carried Forward | (11) | £46,637 | £65,003 |
| ===== | ==== |
The Notes on Pages 8 to 12 form part of the Unaudited Accounts.
Page 7
THE EDGWARE FOUNDATION
Charity Registration Number 803538
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
| Note | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| CURRENT ASSETS | |||
| Debtors | (9) | 31,027 | 28,327 |
| Cash at Bank and in Hand | 19,690 | 40,756 | |
| 50,717 | 69,083 | ||
| CREDITORS:Amounts falling due within one year | (10) | (4,080) | (4,080) |
| NET ASSETS/(DEFICIT) | £46,637 | £65,003 | |
| ===== | ==== | ||
| FUNDS OF THE CHARITY | |||
| Unrestricted Funds | (11) | £46,637 | £65,003 |
| ===== | ==== |
The Unaudited Accounts were approved on 30 July 2025 and signed on behalf of all of the Trustees.
______ Trustee
RABBI E. SCHNEEBALG
The Notes on Pages 8 to 12 form part of the Unaudited Accounts.
Page 8
THE EDGWARE FOUNDATION
Charity Registration Number 803538
NOTES TO THE UNAUDITED ACCOUNTS – 30 SEPTEMBER 2024
1. STATUTORY INFORMATION
The Edgware Foundation (“the Charity”) is a Registered Charity domiciled in England and Wales, Charity Registration Number 803538. The Charity’s Contact and Address are Rabbi E. Schneebalg, 296B Hale Lane, Edgware, Middlesex, HA8 8NP.
2. COMPLIANCE WITH ACCOUNTING STANDARDS
The Unaudited Accounts (“the Accounts”) have been prepared in accordance with the provisions of FRS 102 SORP and the Charities SORP Update Bulletin 2 issued on 5 October 2018.
There were no material departures from the above Accounting Standards.
3. ACCOUNTING POLICIES
a. Basis of Accounting
The Unaudited Accounts (“the Accounts”) of The Edgware Foundation (“the Charity”) have been prepared in accordance with the historical cost convention and in accordance with:
-
The Charities Act 2011 (“the 2011 Act”)
-
The Financial Reporting Standard applicable in the UK FRS 102 (“FRS 102”)
-
The Statement of Recommended Practice: Accounting and Reporting by Charities preparing their Accounts in accordance with the Financial Reporting Standard applicable in the UK FRS 102 (“SORP”) issued on 16 July 2014 the FRS 102 SORP (“the SORP”)
-
The Charities SORP (FRS 102) Update Bulletin 2 issued on 5 October 2018 (“the Charities SORP FRS 102”)
-
The Charities Act 2022 (“the 2022 Act”)
The Charity constitutes a public benefit entity as defined by FRS 102.
The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
b.
Donations
Voluntary Income comprises donations that are accounted for when the Charity becomes entitled to the donation and any conditions for receipt are met.
c.
Investments
Income from Investments comprises bank interest receivable on an accruals basis.
d. Charitable Activities
Charitable Activities comprise contributions made towards certain projects and Donations Payable and are charged in the year in which the payment of funds is conveyed to the respective recipient.
e.
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to the expenditure.
Page 9
THE EDGWARE FOUNDATION
Charity Registration Number 803538
NOTES TO THE UNAUDITED ACCOUNTS – 30 SEPTEMBER 2024 (Continued)
3. ACCOUNTING POLICIES ( Continued)
f. Fund Accounting
Funds held by the Charity are all Unrestricted Funds. These are funds that can be used in accordance with the objects of the Charity at the discretion of the Trustees.
g. Other Costs
Other Costs comprise Governance Costs but, in this Charity, these do not include costs of the preparation and examination of the Accounts, the Independent Examiner acts on an Honorary basis. Governance Costs would include the cost of any legal advice to Trustees on Governance and Constitutional matters.
h. Debtors
Debtors are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the Charity. Subsequently, they are measured at the cash or other consideration expected to be received.
i. Creditors
The Charity has Creditors which are measured at settlement amounts less any trade discounts.
INCOMING RESOURCES ANALYSIS
Income and Endowments from:
| 4. | DONATIONS AND LEGACIES | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Charitable Foundations | 155,574 | 183,180 | |
| Corporate Donors | 83,088 | 52,033 | |
| Individuals and Other Donors | 38,355 | 54,215 | |
| £277,017 | £289,428 | ||
| ====== | ===== | ||
| 5. | INVESTMENTS | ||
| Bank Interest Receivable | £19 | £ 8 | |
| == | == | ||
| RESOURCES EXPENDED ANALYSIS | |||
| Expenditure on: | |||
| 6. | RAISING FUNDS | ||
| Bank Charges | 328 | 199 | |
| Direct Costs | 1,114 | 952 | |
| £1,442 | £1,151 | ||
| ==== | ==== |
Page 10
THE EDGWARE FOUNDATION
Charity Registration Number 803538
NOTES TO THE UNAUDITED ACCOUNTS – 30 SEPTEMBER 2024 (Continued)
RESOURCES EXPENDED ANALYSIS (Continued)
- CHARITABLE ACTIVITIES
| Analysis of Grants/Donations | Year ended 30 | September 2024 |
|---|---|---|
| Grants to | Grants to | |
| Institutions | Individuals | |
| £ | £ | |
| Education | 4,000 | - |
| General Charitable Purposes | 33,325 | 16,500 |
| Relief of Poverty and Welfare | - | 225,430 |
| Religious Organizations | 14,705 | - |
| £52,030 | £241,930 | |
| ===== | ====== | |
| CHARITABLE ACTIVITIES TOTAL | £293,960 | |
| ====== |
Grants to particular Institutions that are material in the context of Grants to Institutions were made to the following Institutions for the following purposes:
| Total | Total | ||
|---|---|---|---|
| Number of | Amount of | ||
| Name of Institution | Purpose | Grants Paid | Grants Paid |
| £ | |||
| C.M.A Community Nursery Ltd | Education | 1 | 4,000 |
| Reb Shayale’s Tzeduke | General Ch | 1 | 5,000 |
| Ezer Leyoldos Ltd | General Ch | 4 | 4,800 |
| Friends of Wiznitz | General Ch | 1 | 4,000 |
| Planet Universe | General Ch | 3 | 8,490 |
| Berditchev Synagogue | Religious | ||
| Organisations | 4 | 14,705 | |
| 14 | 40,995 | ||
| Grants immaterial to total grants | made to | ||
| Institutions | 15 | 11,035 | |
| 29 | £52,030 | ||
| == | ===== |
Page 11
THE EDGWARE FOUNDATION
Charity Registration Number 803538
NOTES TO THE UNAUDITED ACCOUNTS – 30 SEPTEMBER 2024 (Continued)
- CHARITABLE ACTIVITIES (Continued)
| Analysis of Grants/Donations | Year ended 30 September 2023 | Year ended 30 September 2023 | ||
|---|---|---|---|---|
| Grants to | Grants to | |||
| Institutions | Individuals | |||
| £ | £ | |||
| Education | - | - | ||
| General Charitable Purposes | 36,632 | 444 | ||
| Relief of Poverty and Welfare | - | 211,383 | ||
| Religious Organizations | - | - | ||
| £36,632 | £211,827 | |||
| ===== | ====== | |||
| CHARITABLE ACTIVITIES TOTAL | £248,459 | |||
| ====== | ||||
| Grants to particular Institutions that are material in the | context of Grants to Institutions we | |||
| made to the following Institutions for the | following purposes: | |||
| Total | Total | |||
| Number of | Amount of | |||
| Name of Institution | Purpose | Grants Paid | Grants Paid | |
| £ | ||||
| C.M.A Community Nursery Ltd | Education | 1 | 4,000 | |
| EMET – Esther Malka Educational | Education | 1 | 4,000 | |
| Trust | ||||
| Kollel Beis Aharon | Education | 17 | 6,480 | |
| Reb Shayale’s Tzeduke | General Ch | 3 | 12,500 | |
| 22 | 26,980 | |||
| Grants immaterial to total grants made to Institutions | 10 | 9,652 | ||
| 32 | £36,632 | |||
| == | ===== | |||
| 8. | OTHER - GOVERNANCE COSTS | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Independent Examiner’s fees for reporting on the | ||||
| Accounts | £ - | £ - | ||
| == | == |
Grants to particular Institutions that are material in the context of Grants to Institutions were made to the following Institutions for the following purposes:
There were no fees paid to the Independent Examiner who acts on an Honorary basis.
Fees paid to Others amounted to £Nil ( 2023: £Nil).
Page 12
THE EDGWARE FOUNDATION
Charity Registration Number 803538
NOTES TO THE UNAUDITED ACCOUNTS – 30 SEPTEMBER 2024 (Continued)
| 9. | DEBTORS | |||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | |||||
| £ | £ | |||||
| Charitable Loans | £31,027 | £28,327 | ||||
| ===== | ==== | |||||
| 10. | CREDITORS:Amounts falling due within one year | |||||
| Other Creditors | 4,000 | 4,000 | ||||
| Taxation and Social Security | 80 | 80 | ||||
| Accruals and Deferred Income | - | - | ||||
| £4,080 | £4,080 | |||||
| ==== | ==== | |||||
| 11. | UNRESTRICTED FUNDS | |||||
| Statement | of | |||||
| Financial Activities | ||||||
| £ | ||||||
| At 1 October 2023 | 65,003 | |||||
| Incoming Resources | 277,036 | |||||
| Resources Expended | (295,402) | |||||
| At 30 September 2024 | £46,637 | |||||
| ===== |
12. TRANSACTIONS WITH RELATED PARTIES
There were no Related Party transactions in either the current year or the previous year.
13. TRUSTEE EXPENSES
There were no salaries or expenses paid to the Trustees in the current or preceding years.
14. EMPLOYEES
There were no employees during the year £Nil (2023: £Nil).