Second Henry Joseph Levitt Scholarship RECEIPTS AND PAYMENTS ACCOUNTS For th¢ Y¢ar ended 8 October 2025 Charity No: SC 005287
Second Henry Joseph IKvitt S¢holarshAP Trustees, AnDual Report Year ending 8 Oetober 2025 Page I Referen¢e and Administrative Information Ch4riry Nam¢'. Second Henry Josepb Levitt Scholarship Charity No: SC 005?87 Contath Add$$.. 4 Clarendon Crescent Edinburgh. EH4 1 PT TrMytee8 Mr P Oppenheim (Chaiman to l Febnwy 2025) Mr P Bennett Mrs H Ritkind Mr M Shaps (appointed l February 2025, Chairman from I Febrvary 2025) llld¢pend¢ut Examlntr Sarah Hollis Chartered Accountant Hollis A¢¢ounting Limited 3 Melville Cr¢s¢enL Edinburgh, EH3 7HW Investment Manggemellt Charles Stanley & Co Ltd 2 Multrees Walk, Edinburgh, EHI 3DQ Structure, Governance and Management Governing Dll¢t The Trust is constituted by the Agreement and Deed of Trusl among Henry Jos¢ph Levitt and Reuben Robert Cohen and others dat¢d Eighth O¢tob¢r Nineteen Hundred and Fifty-four and registered in the Books of Council and Session on El¢v¢nih November Ntneteen Hundred and fifty-four, and a supplementary Agreemenl and Deed of Trust among the same dated First September Nineteen Hundr¢d and Fifty-eight and registered the Books of Council and Session on Thirteenth September Nin¢te¢n Hundred and Fifty-eight. Reeruitmellt and Appointment ofTrustees New Trustees are appointed by existing Trustees. Organisational Structsre The Tnjstees m¢et when necessary. If decision5 requir¢d b¢tweell meetings. then emailed agreement is deemed suffKcient.
Seeond Henry Josepb Levitt Scholarship Trustees, Annual Report (eontinued) Year endhng 8 Oetober 2025 Pag¢ 2 Objectives and Activities The Trust's main objective is to 8ward a travelltng scholarship annually to boys or girls of the J¢wish Religion resident in Edinburgh, who have attain¢d th¢ age of fourteen yeats but hav¢ not attained the age of eighteen years and who hav¢ attended the Edinburgh Hebrew Congregation Religiths Classes. The Scholarship will be awarded to any pupil who fulfils the comprehensive s¢t of crit¢riA delernifftned by the Education Comynittee of the Edinburgh Hebrew Congregation and agreed by the Trustees. Each winner of the said S¢holarghip shall tndir¢¢tly rec¢ive a payment from the Trust Fund to enable him or her to travel to the Slate of Israel in ossociation with a Jewish Education Scheme. Achievements and PerformaD¢e During the year under review. the charity made no grants in furtherance of the objects above (&$ was the c&se in the PTevious year). No nominations for grants were re¢eiv¢d from the Education Committee of the Edinburgh H¢br¢w Congregation. The reason for this was that owing to the very few students of the qualifying age in the COEnmunity during that period. none had fulfilled th¢ criteria of the Trust. However. The Chair of the Edinburgh Hebrew Congregation Education Committee has indicated that they intend to make a nomination for a grant in 2027 as there will be a suitsble ¢andtdat¢ at that time. During th¢ y¢ar. the Ttust's &nvestments conlinuedto be manag¢d by Charles Stanley & Co Ltd. Sarah Hollis of Hollis Accounting Limited was appointed as the charity's Endependent Examiner again. Finaneial Review The Trust keeps available funds in investments, managed by Charles Stanley & Co Ltd, with a small balance to meet immediate needs held in a eLsh account with them. Ai 8 O¢lob¢r 2025 the charity held cash bank balances of £4,406 (2024: £5,378) and investment holdings of £94,483 (2024: £83,847). Reserves Policy The Trustees pursue a policy of maintaining a free reserye of unrestricted funds available to be spent in the furtberance of th¢ ¢harity's objectives, as well covering futur¢ needs, opportunities, conlingencies aThd risks. In 2024 th¢ Trust¢es decided to move all funds into one unrestri¢ted lld. At the end of the cutrenl reporting p¢riod the charity had free c&8h reserves amounting to £4,406 (?024.. £5,378}. TlkÈs figure equates to the bank balAnce total Én the Financial Review above.
Srtond Henry Jojtph Lxvltt Scholarsblp Truiteej. Report (contlo•ed) Year e4diRg 8 October 2025 Pa8¢ 3 St*temeat ofTru$teu' Responslbllltles The TteeS pr¢paTe financial ststemenLs which 8ive sufficient detail to enable qn ai4wttiaiion of the transa¢tiOfLS of the T1 during the finan¢iJl ye8r. Th¢ TnLqtees are ible for keeping prrw )rting re¢or(L% whic14 oft reque. must reflect the finan¢tal )sitwn of th¢ Tn¥t at that lime. This mu%¢ be doDe to ¢nsure that the finwKial sthiem¢ms comply with the Charities ond T5 Invtsttnent {Sc¢Aland) Act 2IY)5 and tht Charities Accounts (Scotl4NJ} Rcgulali(xKs. They are also r¢$r$$ble for safeguKditig the of th¢ Tnt and must take r¢8son•ble st¢ps fsx the prevention aodor detection of fraud other iTre8ularities. Approvol by th¢ Tne¢S and sipKd their beh•lf. g+ Mr M Sbaps
Independent Examiner's Report to the Trustee$ of Second Henry Joseph Levitt Scholarship Pag¢ 4 I report on the a¢¢owits of th¢ ¢harity for th¢ year ending 8 October 2025 which are set out on pages 5 to 8. Re5peetlve responslbllltles of Trustees And exmln¢r The Charity's Trustees are responsibl¢ for the preparation of ihe accounts in accordance with the ternis of the Charities and TTUStee Inv¢stm¢nt (S¢otland) Act 2005 and the Charitics Accounts (S¢oiland) Regulations 2006. The charity Tnt¢¢s¢ODsid¢rthatthc audit requirementof Regulation l O(1 ) {d) ofth¢Ac¢ounts Regulations does not apply. It is my responsibility to ¢xamine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention. B15 of independent exatnitter's stsl¢mellt An examination is carried out in accordan¢¢ with Regulation I l of the Charities Accounts (Seotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with ihose rerds. It also includes ¢onsideration of any unusual items or disclosures in the accounts, 8t s¢¢ks explanations from the Trustees concerning any such matt¢rs. The procedures undertaken do not provid¢ all the evidence that would be required in an audi( and consequently I do not express an audit opinion on the view given by the accounts. Ind¢p¢ndeot exmltt¢r'$ $tat¢mellt In the course of my examination, no matter has wm¢ to my attention, which gives me reasonable cause to believe that in any material respect the requirements: to keep accounling Fe¢ord$ in a¢¢ordance with Section 44 (IKa) of the 2005 Act and Regulation 4 of the 2006 Accounts R¢gulations. and to pr¢pare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Aceounts Regulations have not been met, or 2. to which, in my opinion: attention should be drawn in order to enable a proper und¢rstanding of the accounts to be aChed. Sarah Holli$ Chartered A¢¢ountant Hollis A¢¢ounting Limited 3 Melville Crescent Edinburgh EH3 7HW Date
Seeotsd Hettry Joseph Levltt Scholar5bip Reeeipts Payments AeeouTht Ytar endiDg 8 O¢¢ob¢r 2025 Page 5 Expe•dable UDrestritt¢d EDdowmeDt Vunds Funds Exptlldxble Unrestrl¢¢ed Endowment Total Funds Total Funds Funds 2025 2025 2025 2024 2024 2024 DonitioLs & legacies Adiviiies for8¢nerntin8 funds Investtnent Incort 1973 2,971 2,973 2.973 1649 2,649 2.649 2.649 Sak of lljvesltnents 6,984 78.617 78.617 Other Receipts 9,957 2,649 7&617 81266 mettts Nots3 Costs of generating funds Charitable activitie$ 445 445 39 479 518 Governance wsts 450 895 4SO 420 420 895 459 479 938 Purthase of Investsnents 10.034 79.921 79.921 Losts 10,929 10.929 459 80,400 80859 Exs5 of Receiws ov¢rPa)ryD¢nts for the y¢aT b¢forc tron5fers 1972) 19ni 2,190 11,783) 407 TratLsfcr5 Note 2 (3231 323 Ext04 ofRettlpts over Payments for theyur 1972) (9ni 1,867 (1,460)
Ai i ()¢tsber 2 5J71 3Jii 4.971 )¥qy lJ67 ••*4 91.415 8JJ4? 450 $0 450 43(1 IJ For td4rof•O
SeeoDd Henry Josepb Ikvltt Scholrshlp ot¢$ to the Aecounts Year ending 8 O¢tob¢r 2025 Page 7 Note l. Tr¥it¢e RemulleratiDn ind Rclttd Prty TM#sottion$ During th¢ ye&r no tN51 were remun¢totsd orreimbursed any expeAS¢S. No Tn]st¢¢ QT persort related ijstce has arson ult¢¥t cotstrtt¢i or ttaJJsaLaiOllS ent¢rtd into byth¢ th8Tity during the year. Nate 2. FuBd MoveDnI At IJ9.1024 At 0&1O.25 laeomt EXptdLtr¢ Trnn$fera Unr¢Jtri¢ted fNDds General Fujtd 10.929 10.929 4.406 5.378 UDrtlirleted Gelltrl Funds These fithds are tswttilable for use ai the discr¢tion truste¢$ itt fiLtherCe of the genergi obJ¢¢iiv¢$ of th¢ charity aDd which ha noi been designated for oth¢T purpos¢5. Transfers in lh¢ year arc lo r¢toin fiJn(Ls in W¢StriCt¢d ¢h reservts and ox¢ by agr¢¢m¢Dt ofthe Tntstets. iYo¢t 3. AJ•lysii otPymtDts Exptlldxble Vnreitricted EDdoJYment FllDd$ Eipertdxbk hrt9trl¢ttd EndowEn¢Mt Fund5 Totsl 2025 F¥Dd5 2024 Totsl 21124 2025 2024 CoT Geth¢rti#g Futtds- Investment Min¥¢m¢nt EWM advigor 17 11 Charle$ Stanley advisor Comftwssion &ch8r8¢8 445 445 384 78 39 445 39 479 518 Charitabl¢ •ttiwits Grants Other expen GovtrnD¢e Costs Independent Examinatton 450 450 4SD 450 420 420 420 4211 Assetli•vestmeDt Pllrtbas InveslmEnt prth% 10.034 79,921 79,921 Totil PiyJNents 10.929 459
Second HeDry Joseph itt Scholarship Notes to the Aeeounts Yegr ending 8 Octob¢r 2025 Page 8 Note 4. Fixed Assets- l#veitmtBts t VluitioD 2025 2024 Mark¢t Valu¢ al stsrt of year Aqutsitions al Cost Disp1$ at MaTket vaJu¢ VAluation ¢hanges MaTkrf Valu¢ at 8 O¢tober 83.847 10.034 (6,9841 78.010 79,921 178,6171 94,483 Note 5. BADk a#d Ca41L Balkn¢es Exp¢lldable UreSt¢t£d Endowrttext FuDd5 2025 F.xpendib 'nrtstritted Endowmcmt FuDd5 2024 Tot1 2025 Total 2025 2024 RBS B&ttk CS Incotne Alc CS CapttAI AI¢ 4.406 2.252 2.252 4.406 5.378