Maurice & Rochelle Miller Foundation Charity Accounts

COMPANY REGISTRATION NUMBER: 11255880

CHARITY REGISTRATION NUMBER: 1179192

Maurice & Rochelle Miller Foundation

Company Limited by Guarantee

Unaudited Financial Statements

31 March 2025

Maurice & Rochelle Miller Foundation

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2025

	Page

Trustees' annual report (incorporating the director's report)	1

Independent examiner's report to the trustees	5

Statement of financial activities (including income and expenditure account)	6

Statement of financial position	7

Notes to the financial statements	8

Maurice & Rochelle Miller Foundation

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2025

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 2025 .

Reference and administrative details

Registered charity name	Maurice & Rochelle Miller Foundation

Charity registration number	1179192

Company registration number	11255880

Principal office and registered	2nd Floor Parkgates
office	Bury New Road
	Prestwich
	Manchester
	M25 0TL

The trustees

	M P Miller
	Mrs R E Miller
	Mrs A P Rosenthal	(Resigned 30 November 2024)
	L B Rosenthal	(Resigned 30 November 2024)
	Dr L B Weingarten
	S Weingarten

Independent examiner	Mr Howard Schwalbe ACA
	2nd Floor - Parkgates
	Bury New Road
	Prestwich
	Manchester
	M25 0TL

Structure, governance and management

Maurice & Rochelle Miller Foundation is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 14 March 2018 as a company and the company number is 11255880 . It was registered as a charity on 13 July 2018 with a charity number 1179192 .

Recruitment and appointment of new trustees would be in line with the Memorandum and Articles of Association and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.

There is no chief executive officer. The day to day affairs are undertaken by Mr M Miller on behalf of the trustees. All major decisions are taken collectively by the trustees and all the trustees give of their time freely. The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts. The arrangements for setting the pay of the charity’s employees are the sole domain of the trustees.

There are no policies for the induction or training of new trustees.

Risk review

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

The risks faced by the trust are principally operational risks from ineffective grant making. These risks are managed by the trustees researching potential beneficiaries before granting donations.

Report back and review procedures strengthen these safeguards to ensure public benefit is achieved from all grants.

Objectives and activities

The objects of the charity are: (i) For the public benefit promote the education of people of all ages around the world in such ways as the charity trustees think fit, including awarding to such persons scholarships, maintenance allowances or grants; or by grants to charities or other organisations worldwide that provide education. (ii) The prevention or relief of poverty or financial hardship anywhere in the world by providing: grants or loans to individuals in need and /or charities, or other organisations working to prevent or relieve poverty of financial hardship. (iii) To advance the orthodox Jewish religion worldwide for the benefit of the public in accordance with the principles of the code of Jewish law (Shulchan Aruch). (iv) To promote and protect the physical and mental health of sufferers of any medical conditions around the world through the provision of financial assistance, support and practical advice.

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.

Grant making policy

The charity is funded by investment income. The charity gives out grants in line with the above objects.

There were no grants paid to individuals during the year.

Grants made during the year to institutions are as detailed in the accounts.

The application of the funds is by way of grants to institutions.

The trustees consider they have met the public benefit test and outline these achievements below.

The trustees measure the success of achieving the stated aims by the number and value of grants paid out for each object. The grants paid out in the year are detailed in the notes to the accounts and the trustees consider they have met their aims successfully this year.

The trustees consider the shorter term aims to be similar to the longer term aims and assess the achievement of the charity in the same way.

Achievements and performance

The charity received donations of £25,000 (2024: 0)

The charity had income receivable of £43,341 (2024: £45,504) from investments and bank interest.

The charity paid out £271,083 (2024: £140,109) by way of grants and support costs. These grants were made in line with the stated objects of the charity.

The charity has low governance costs comprising professional fees.

Grants over £6,000 made during the year to institutions are as detailed in the notes to the accounts.

There were no material fundraising costs during the year.

Investment management costs were £4,253 (2024: £4,369).

Based on valuation provided by the bank, the trustees have revalued the investment portfolio resulting in revaluation gains of £1,318 (2024: £94,800).

Related party transactions are disclosed in the notes to the accounts.

There was net expenditure and net movement in funds in the year amounting to £205,677 (2024: £4,174).

Financial review

Investment performance

The investments of the charity have provided a return of approximately 3% in the year as well as a small revaluation gain.

The trustees consider this acceptable when compared with returns available on deposits in any of the banking institutions.

Reserves policy

The unrestricted fund represents the unrestricted funds arising from past operating results.

The trustees are satisfied that the balance of the fund is an acceptable level of reserves given the nature of revenue receipts against grants payable.

In considering the limited financial obligations of the charity, the trustees have resolved to maintain a minimum reserve roughly equal to the net current assets of the charity.

The trustees have considered the fair value of the investment portfolio and the trustees consider the holding value to be the fair value.

The trustees are delighted to have made many valuable contributions to the community as a result of this income and hope to be able to do so for many years to come.

Total funds of the charity stand at £1,305,397 (2024: £1,511.074)

The free reserves being the net current assets stand at £54,461 (2024: £67,204), all of which are unrestricted.

The trustees' annual report was approved on 29 September 2025 and signed on behalf of the board of trustees by:

M P Miller

Trustee

Maurice & Rochelle Miller Foundation

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Maurice & Rochelle Miller Foundation

Year ended 31 March 2025

I report to the trustees on my examination of the financial statements of Maurice & Rochelle Miller Foundation ('the charity') for the year ended 31 March 2025.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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 charity as required by section 386 of the 2006 Act; or

2. the financial statements do not accord with those records; or

3. the financial statements 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 financial statements 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.

Mr Howard Schwalbe ACA Independent Examiner

2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL

29 September 2025

Maurice & Rochelle Miller Foundation

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 31 March 2025

	2025		2024
	Unrestricted funds	Total funds	Total funds
Note	£	£	£

Income and endowments

Donations and legacies	5	25,000	25,000	–
Investment income	6	43,341	43,341	45,504
		--------	--------	--------
Total income		68,341	68,341	45,504
		--------	--------	--------

Expenditure

Expenditure on raising funds:

	Investment management costs	7	4,253	4,253	4,369
Expenditure on charitable activities		8,9	271,083	271,083	140,109
			---------	---------	---------
Total expenditure			275,336	275,336	144,478
			---------	---------	---------

Net gains on investments	12	1,318	1,318	94,800

	---------	---------	---------
Net expenditure and net movement in funds	( 205,677)	( 205,677)	( 4,174)
	---------	---------	---------

Reconciliation of funds

Total funds brought forward	1,511,074	1,511,074	1,515,248
	------------	------------	------------
Total funds carried forward	1,305,397	1,305,397	1,511,074
	------------	------------	------------

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

All income and expenditure derive from continuing activities.

Maurice & Rochelle Miller Foundation

Company Limited by Guarantee

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Investments	16	1,250,936	1,443,870

Current assets

Cash at bank and in hand	55,721	68,404

Creditors: amounts falling due within one year	17	1,260	1,200
		--------	--------
Net current assets		54,461	67,204
		------------	------------
Total assets less current liabilities		1,305,397	1,511,074
		------------	------------
Net assets		1,305,397	1,511,074
		------------	------------

Funds of the charity

Unrestricted funds		1,305,397	1,511,074
		------------	------------
Total charity funds	18	1,305,397	1,511,074
		------------	------------

For the year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

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

These financial statements were approved by the board of trustees and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

M P Miller

Trustee

Maurice & Rochelle Miller Foundation

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 2nd Floor Parkgates, Bury New Road, Prestwich, Manchester, M25 0TL.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

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

Judgements and key sources of estimation uncertainty

The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported besides the valuation of fixed asset investments at the year end.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Incoming resources

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Investments

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Limited by guarantee

Maurice & Rochelle Miller Foundation is a registered charity and a company limited by guarantee and does not have a share capital. In the event of the charity being wound up, members are required to contribute an amount not exceeding £10.

5. Donations and legacies

Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
£	£	£	£

Donations

Donations received	25,000	25,000	–	–
	--------	--------	----	----

6. Investment income

	Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
	£	£	£	£
Income from listed investments	42,795	42,795	45,241	45,241
Bank interest receivable	546	546	263	263
	--------	--------	--------	--------
	43,341	43,341	45,504	45,504
	--------	--------	--------	--------

7. Investment management costs

	Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
	£	£	£	£
Other investment management costs	4,253	4,253	4,369	4,369
	-------	-------	-------	-------

8. Expenditure on charitable activities by fund type

	Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
	£	£	£	£
Charitable grants	269,697	269,697	138,788	138,788
Support costs	1,386	1,386	1,321	1,321
	---------	---------	---------	---------
	271,083	271,083	140,109	140,109
	---------	---------	---------	---------

9. Expenditure on charitable activities by activity type

	Grant funding of activities	Support costs	Total funds 2025	Total fund 2024
	£	£	£	£
Charitable grants	269,697	127	269,824	138,909
Governance costs	–	1,259	1,259	1,200
	---------	-------	---------	---------
	269,697	1,386	271,083	140,109
	---------	-------	---------	---------

10. Analysis of support costs

	Analysis of support costs	Total 2025	Total 2024
	£	£	£
General office	127	127	121
Governance costs	1,259	1,259	1,200
	-------	-------	-------
	1,386	1,386	1,321
	-------	-------	-------

11. Analysis of grants

	2025	2024
	£	£

Grants to institutions

Altrincham Prep	–	11,862
Beis Halochem	25,000	–
British Friends Of United Hatzoloh	25,000	5,000
Children With Cancer	5,000	6,000
Childwall Congregation	1,000	6,000
Christie Charity	6,000	–
CST	–	10,000
Grants of less than £6,000	66,377	21,420
Hale Shule	23,320	14,296
Israel Philharmonic Orchestra	6,000	–
Jewish Rep Council	10,000	–
Magen David Adom	57,000	–
Manchester Grammar	–	19,760
North Cheshire Primary Trust	20,000	–
The Fed	25,000	14,500
UJIA	–	22,000
Withington Girls	–	7,950
	---------	---------
	269,697	138,788
	---------	---------
Total grants	269,697	138,788
	---------	---------

12. Net gains on investments

	Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
	£	£	£	£
Gains/(losses) on other investment assets	1,318	1,318	94,800	94,800
	-------	-------	--------	--------

13. Independent examination fees

	2025	2024
	£	£

Fees payable to the independent examiner for:

Independent examination of the financial statements	1,260	1,200
	-------	-------

14. Staff costs

The average head count of employees during the year was Nil (2024: Nil).

No employee received employee benefits of more than £60,000 during the year (2024: Nil).

15. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

16. Investments

	Other investments
	£
Cost or valuation
At 1 April 2024	1,443,870
Additions	–
Disposals	(194,253)
Fair value movements	1,319
	------------
At 31 March 2025	1,250,936
	------------
Impairment
At 1 April 2024 and 31 March 2025	–
	------------
Carrying amount
At 31 March 2025	1,250,936
	------------
At 31 March 2024	1,443,870
	------------

All investments shown above are held at valuation.

The investments of the charity are made up of a portfolio of mixed investments with one of the high street banks.

The valuation at the year end is as provided by the bank and is at fair value based on various assumptions as contained in the valuation report.

17. Creditors: amounts falling due within one year

	2025	2024
	£	£
Accruals and deferred income	1,260	1,200
	-------	-------

18. Analysis of charitable funds

Unrestricted funds

	At 1 April 2024	Income	Expenditure	Gains and losses	At 31 March 2025
	£	£	£	£	£
General funds	1,511,074	68,341	(275,336)	1,318	1,305,397
	------------	--------	---------	-------	------------

	At 1 April 2023	Income	Expenditure	Gains and losses	At 31 March 2024
	£	£	£	£	£
General funds	1,515,248	45,504	(144,478)	94,800	1,511,074
	------------	--------	---------	--------	------------

19. Analysis of net assets between funds

	Unrestricted Funds	Total Funds 2025
	£	£
Investments	1,250,936	1,250,936
Current assets	55,721	55,721
Creditors less than 1 year	(1,260)	(1,260)
	------------	------------
Net assets	1,305,397	1,305,397
	------------	------------

	Unrestricted Funds	Total Funds 2024
	£	£
Investments	1,443,870	1,443,870
Current assets	68,404	68,404
Creditors less than 1 year	(1,200)	(1,200)
	------------	------------
Net assets	1,511,074	1,511,074
	------------	------------

20. Related parties

Donations of £25,000 were received from related parties.

21. Taxation

Maurice & Rochelle Miller Foundation is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.