Charity registration number 1167966
Company registration number 09792270 (England and Wales)
DONOCOM LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
DONOCOM LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr D Gluck
Mr S Wieder
Mr J Mandel
Charity number
1167966
Company number
09792270
Registered office
Unit 9b The High Cross Centre
Fontayne Road
London
England
N15 4BE
Independent examiner
Mr J Silver FCCA
Precision Ltd
32 Castlewood Road
London
N16 6DW
DONOCOM LTD
CONTENTS
Page
Trustees' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 11
DONOCOM LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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

The charity's objects are the advancement of Orthodox Jewish education, to advance the orthodox Jewish faith for the benefit of the public, and the prevention or relief of poverty particularly but not exclusively in the UK by providing grants, items and services to individuals in need and/or charities, or other organisations working to prevent or relieve poverty.

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

The charity is funded by donations. Grants are made to charitable institutions and organisations both in Great Britain and abroad which accords with the objects of the charity. The trustees consider all requests which they receive and make donations based on the level of funds available.

Achievements and performance

The charity received £83,528 from investment income during the year and £133,681 was paid out by way of grants, management costs and support costs. Grants over £1,000 made during the year to institutions are as detailed in the accounts. These grants were made in line with the stated objects of the charity and were for educational and relief of poverty purposes.

Financial review

The trustees are satisfied with the charity's financial position.

The charity's statement of financial activities shows total reserves of £507,043, of which £81,679 are free reserves.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level which will not impinge on its ability to support Charitable institutions.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a company limited by guarantee and is controlled by its Memorandum and Articles of A ssociation.

It was registered as a charity on 2 3 September 2015.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr D Gluck
Mr S Wieder
Mr J Mandel

The power to appoint new trustees is vested in the current board. The trustees apply suitable induction and training procedures to all new trustees. The trustees administer the day to day running of the charity.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

DONOCOM LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

The trustees' r eport was approved by the Board of Trustees.

..............................
Mr J Mandel
Trustee
Date: .............................................
2025-10-30
DONOCOM LTD
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF DONOCOM LTD
- 3 -

I report to the trustees on my examination of the financial statements of DONOCOM LTD (the charity) for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the charity (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 financial statements of the charity 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 financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). 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 matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Mr J Silver FCCA

Precision Ltd

32 Castlewood Road

London

N16 6DW

Dated: .........................
DONOCOM LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Donations and legacies
3
-
820
Investments
4
83,528
80,020
Total income
83,528
80,840
Expenditure on:
Raising funds
Investment management
5
61,140
41,099
Charitable activities
6
72,541
59,716
Total expenditure
133,681
100,815
Net expenditure for the year/
Net movement in funds
(50,153)
(19,975)
Fund balances at 1 January 2024
557,196
577,171
Fund balances at 31 December 2024
507,043
557,196

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
DONOCOM LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 5 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
12
425,364
425,364
Current assets
Debtors
13
33,870
29,218
Cash at bank and in hand
48,589
103,394
82,459
132,612
Creditors: amounts falling due within one year
14
(780)
(780)
Net current assets
81,679
131,832
Total assets less current liabilities
507,043
557,196
Income funds
Unrestricted funds
507,043
557,196
507,043
557,196

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the Trustees on .........................
2025-10-30
..............................
Mr J Mandel
Trustee
Company registration number 09792270
DONOCOM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
1
Accounting policies
Charity information

Donocom Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 9b The High Cross Centre, Fontayne Road, London, N15 4BE, England.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
DONOCOM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 7 -
1.5
Expenditure

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.

1.6
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

DONOCOM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The 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.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Judgements made by the directors in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are as follows.

Property valuation

The valuation of the charity's investment property is inherently subjective, depending on many factors including the nature of the property, its location and expected future net rental values. Therefore the valuation is subject to a degree of uncertainty and is made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.

3
Donations and legacies
Total
Unrestricted
funds
2024
2023
£
£
Donations and gifts
-
820
4
Investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Rental income
83,528
80,020
5
Raising funds
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Investment management
61,140
41,099
Property expenses
DONOCOM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Raising funds
(Continued)
- 9 -
61,140
41,099
6
Charitable activities

Charitable Expenditure

Charitable Expenditure

2024
2023
£
£
Grant funding of activities (see note 7)
70,997
58,860
Share of support costs (see note 8)
620
16
Share of governance costs (see note 8)
924
840
72,541
59,716
7
Grants payable

Charitable Expenditure

Charitable Expenditure

2024
2023
£
£
Grants to institutions:
Zoreya Tzedokos Ltd
10,000
-
Alymos Ltd
5,000
4,000
Yesamach Levav
507
474
Chasdei Sholom
6,000
-
The Egerton Road Trust
2,775
2,990
Inspirations
-
11,000
Friends of Yeshivas Daas Sholem Shotz
-
16,000
Chaim Bechesed
640
800
Chasdei Aharon Ltd
5,000
-
College for Higher Rabbinical Studies
5,000
-
Keren Chochmas Shlomo
5,000
-
Keren Hatzolos Doros
5,000
-
Keren Nisssuin Mislonim
5,000
-
Start Upright
5,000
-
Ohel Torah Youth Organisation
2,020
-
Amud Hatzdokoh Trust
1,344
10,038
Reb Shayale's Tzeduke
-
5,035
Lehachzikom UK
-
2,000
Shalheves
1,836
1,140
Other
10,875
5,383
70,997
58,860
DONOCOM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
7
Grants payable
(Continued)
- 10 -
-
8
Support costs
Support costs
Governance costs
2024
Support costs
Governance costs
2023
£
£
£
£
£
£

Administrative expenses

620
-
620
16
-
16
Accountancy
-
840
840
-
840
840
Legal and professional
-
84
84
-
-
-
620
924
1,544
16
840
856
Analysed between
Charitable activities
620
924
1,544
16
840
856

9
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
10
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
11
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

12
Investment property
2024
£
Fair value
At 1 January 2024 and 31 December 2024
425,364
DONOCOM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
12
Investment property
(Continued)
- 11 -

The charity's property has been included in the Financial Statements at Trustees' valuation. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

13
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
4,652
-
Other debtors
29,218
29,218
33,870
29,218

Other debtors is made up of various small loans made for charitable purposes in the course of carrying out the charity’s objectives.

14
Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
780
780

Other creditors is an amount due to the trustees.

15
Related party transactions

There were no disclosable related party transactions during the year.

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