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REGISTERED COMPANY NUMBER: 03778491 (England and Wales)
REGISTERED CHARITY NUMBER: 1078235



















C & G FUND LIMITED
(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

C & G FUND LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Reference and Administrative Details 1

Report of the Trustees 2 to 3

Independent Examiner's Report 4

Statement of Financial Activities 5

Balance Sheet 6 to 7

Notes to the Financial Statements 8 to 14

C & G FUND LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 MAY 2024



TRUSTEES S Benedikt
S Faibush
J Kohn


REGISTERED OFFICE 94 Stamford Hill
London
N16 6XS


REGISTERED COMPANY
NUMBER
03778491 (England and Wales)


REGISTERED CHARITY NUMBER 1078235


INDEPENDENT EXAMINER Sugarwhite Meyer HS Ltd
First Floor
94 Stamford Hill
London
N16 6XS

C & G FUND LIMITED (REGISTERED NUMBER: 03778491)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MAY 2024


The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.

REFERENCE AND ADMINISTRATIVE INFORMATION
The information is shown on page 1 of the financial statements and forms part of this report.

OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity are, the advancement of Orthodox Jewish Religious Education and of education generally; advancement of the Orthodox Jewish Religion; the relief of poverty and such other charitable purposes as the the trustees may from time to time determine.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees are satisfied with the results of the year. Although there was an increase in donations received there was reduction investment income. The trustees reduced grantmaking leaving a surplus for the year.The charity continued its philanthropic activities.

FINANCIAL REVIEW
Investment policy and objectives
Under the memorandum and articles of association the charity has the power to make any investment which the trustees see fit. The trustees consider that investment in property meets their criteria for income and capital growth and regularly review the situation.

Reserves policy
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities
of the charity. Reserves at the year end were £382,901 (2023 - £354,974)

FUTURE PLANS
The charity plans to continue its activities for the foreseeable future subject to satisfactory income.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The charity is constituted as a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 27 May 1999.

Organisational structure
The day-to-day affairs of the company are administered by the trustees. The power to appoint new trustees is vested in the board. It is not the intention of the trustees to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.

Risk management
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.


C & G FUND LIMITED (REGISTERED NUMBER: 03778491)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MAY 2024

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 31 March 2025 and signed on its behalf by:





S Benedikt - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
C & G FUND LIMITED

Independent examiner's report to the trustees of C & G Fund Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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 matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.








E Meyer FCA BSc

Sugarwhite Meyer HS Ltd
First Floor
94 Stamford Hill
London
N16 6XS

31 March 2025

C & G FUND LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MAY 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 92,500 71,519

Investment income 2 16,109 105,143
Total 108,609 176,662

EXPENDITURE ON
Raising funds 3 913 919

Charitable activities 4
Charitable activities 75,787 90,446
Support 3,982 3,874
Total 80,682 95,239

NET INCOME 27,927 81,423


RECONCILIATION OF FUNDS
Total funds brought forward 354,974 273,551

TOTAL FUNDS CARRIED FORWARD 382,901 354,974

C & G FUND LIMITED (REGISTERED NUMBER: 03778491)

BALANCE SHEET
31 MAY 2024

2024 2023
Total Total
funds funds
Notes £    £   
FIXED ASSETS
Investments 9 542,096 549,705

CURRENT ASSETS
Debtors 10 38,000 149,000
Investments 11 86,820 86,820
Cash at bank 50,312 14,351
175,132 250,171

CREDITORS
Amounts falling due within one year 12 (306,123 ) (411,569 )

NET CURRENT ASSETS (130,991 ) (161,398 )

TOTAL ASSETS LESS CURRENT
LIABILITIES

411,105

388,307

CREDITORS
Amounts falling due after more than one year 13 (28,204 ) (33,333 )

NET ASSETS 382,901 354,974
FUNDS 15
Unrestricted funds:
General fund 382,901 354,974
TOTAL FUNDS 382,901 354,974

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


C & G FUND LIMITED (REGISTERED NUMBER: 03778491)

BALANCE SHEET - continued
31 MAY 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 31 March 2025 and were signed on its behalf by:





S Benedikt - Trustee

C & G FUND LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Judgements and key sources of estimation uncertainty
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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.

Income received by way of donations is accounted for when received.

Income from investments is included in the year in which it is receivable.

Expenditure
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.

Raising funds comprise the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.

Grants are only recognised in the accounts when paid.

Support costs are those incurred to assist the work of the charity but are not direct charitable activities.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Going concern
There are no material uncertainties about the charity's ability to continue.


C & G FUND LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. INVESTMENT INCOME
2024 2023
Unrestricted Total
funds funds
£    £   
Syndicate income 16,109 105,143

3. RAISING FUNDS

Investment management costs
2024 2023
Unrestricted Total
funds funds
£    £   
Interest payable and similar charges 913 919

4. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
(see note costs (see
5) note 6) Totals
£    £    £   
Charitable activities 75,787 - 75,787
Support - 3,982 3,982
75,787 3,982 79,769

5. GRANTS PAYABLE
2024 2023
£    £   
Charitable activities 75,787 90,446
The total grants paid to institutions during the year was as follows:
2024 2023
£    £   
Advancement of religion 23,441 14,525
Advancement of education 23,320 38,390
Relief of poverty 20,176 26,077
Medical 896 -
Social welfare 2,963 7,452
70,796 86,444

C & G FUND LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. GRANTS PAYABLE - continued


Gateshead Seminary 9,000
Congregation Vyoel Moshe D'Satmer Charitable Trust 6,800
Yeshivo Horomo Talmudical College 6,250
Amud Hatzdoko Trust 4,265
ZSV 3,900
Others under £3,500 40,581
70,796

The total grants paid to individuals during the year was as follows:
2024 2023
£    £   
Relief of poverty 4,991 4,002

6. SUPPORT COSTS
Governance
Finance Other costs Totals
£    £    £    £   
Support 158 141 3,683 3,982

Support costs, included in the above, are as follows:

Finance
2024 2023
Total
Support activities
£    £   
Bank charges 158 138
Other
2024 2023
Total
Support activities
£    £   
Sundries 141 50

C & G FUND LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. SUPPORT COSTS - continued
Governance costs
2024 2023
Total
Support activities
£    £   
Independent examiner's fee 1,260 1,380
Independent examiner's other fees 1,680 1,920
Legal and professional fees 743 386
3,683 3,686

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 May 2024 nor for the year ended 31 May 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 May 2024 nor for the year ended 31 May 2023.


8. AVERAGE NUMBER OF STAFF

The average number of staff in the year was Nil (2023 - Nil)

9. FIXED ASSET INVESTMENTS
Investment
£   
SYNDICATES
At 1 June 2023 549,705
Additions 21,639
Movement in year (29,248 )
At 31 May 2024 542,096
NET BOOK VALUE
At 31 May 2024 542,096
At 31 May 2023 549,705

There were no investment assets outside the UK.


C & G FUND LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 38,000 149,000

11. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Unlisted investments 86,820 86,820

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 14) 5,002 4,875
Other creditors 298,181 400,994
Accruals and deferred income 2,940 5,700
306,123 411,569

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 14) 28,204 33,333

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year on demand:
Bank loans 5,002 4,875
Amounts falling due between two and five years:
BBL Loan 20,008 19,500
Amounts falling due in more than five years:

Repayable by instalments:
Bank loans more 5 yr by instal 8,196 13,833


C & G FUND LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

15. MOVEMENT IN FUNDS
Net
movement At
At 1.6.23 in funds 31.5.24
£    £    £   
Unrestricted funds
General fund 354,974 27,927 382,901

TOTAL FUNDS 354,974 27,927 382,901

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 108,609 (80,682 ) 27,927

TOTAL FUNDS 108,609 (80,682 ) 27,927


Comparatives for movement in funds

Net
movement At
At 1.6.22 in funds 31.5.23
£    £    £   
Unrestricted funds
General fund 273,551 81,423 354,974

TOTAL FUNDS 273,551 81,423 354,974

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 176,662 (95,239 ) 81,423

TOTAL FUNDS 176,662 (95,239 ) 81,423


C & G FUND LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

16. RELATED PARTY DISCLOSURES

An unrestricted donation of £50,000 was received from a trustee and £30,000 from a charity in which a trustee has an interest.