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REGISTERED COMPANY NUMBER: 08542368 (England and Wales)
REGISTERED CHARITY NUMBER: 1154533














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

CHABAD LUBAVITCH OF SOUTH LONDON
JKA Accountancy Limited
923 Finchley Road
London
NW11 7PE








CHABAD LUBAVITCH OF SOUTH LONDON

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025










Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Statement of Financial Position 5 to 6

Notes to the Financial Statements 7 to 13

CHABAD LUBAVITCH OF SOUTH LONDON (REGISTERED NUMBER: 08542368)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 28 FEBRUARY 2025



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 2025. The trustees have adopted the provisions of 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
Objectives and aims
The charity's objects are specifically restricted to the following:
1. The advancement of the Orthodox Jewish religion in accordance with the principles of Chabad Lubavitch,
2. The advancement of Orthodox Jewish religion education and,
3. The relief of poverty, homelessness and financial crisis management.

Public benefit
The benefits of the above activities afforded to the Jewish population of South London by the provision of the advancement of Orthodox Jewish religion and religious education in the education of a by and large completely ignorant Jewish community who have not been raised religiously and are not able to read Hebrew, find their way through Jewish prayer book, keep a kosher kitchen and observe all the rites and practices according to the Jewish code of law.

The education services offered to the local Jewish population are many and largely free, with some specialists lectures having a suggested voluntary donation. However, no one is refused from attending any lectures due to their not being able to pay.
Whilst the above activities are offered in and focus primarily on the Jewish population of South London, it is not restricted as such, and anyone is invited to attend.
The object of the relief of poverty, homelessness and financial crisis management, again while being aimed primarily at the local Jewish population, is not restricted to those as such, and there have been instances where persons of a non-Jewish faith have received the same standard of care, warmth and counselling as their Jewish counterparts.

FINANCIAL REVIEW
Financial position
The Trustees are pleased to see that donation income has increased this year, leading to a surplus of £45,443 ( 2024 £69,442).

The Statement of Financial Activities shows cash reserves of £107,734 (2024 £85,507) as at 28th February 2024. Total reserves stood at £2,040,740 ( 2024 £1,995,307).

Reserves policy
The charity's reserves policy is to maintain sufficient reserves to enable the charity to continue its activities and services at a meaningful level, should there be a drop in income. The trustees review this position on a regular basis.

In view of this the trustees aim to maintain a level of reserves sufficient to meet three months basic operating cost once the refurbishment of the Chabad House building project is completed.

Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. The trustees have prepared cash flow forecasts and profit projections which demonstrate the charity can continue as a going concern.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a memorandum and articles of association, and constitutes a limited company , limited by guarantee, as defined by the Companies Act 2006.

Page 1
CHABAD LUBAVITCH OF SOUTH LONDON (REGISTERED NUMBER: 08542368)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 28 FEBRUARY 2025


STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
All Directors of the company are also Trustees of the Charity, and there are no other Trustees. All of the Trustees named above served throughout the year. The Board has the power to appoint additional trustees as it considers fit to do so.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
08542368 (England and Wales)

Registered Charity number
1154533

Registered office
42 St George's Road
Wimbledon
London
SW19 4ED

Trustees
E Itzinger
S Giffen
M Zavdi
D Duboy

Independent Examiner
Akiva Kahan FCA
JKA Accountancy Limited
923 Finchley Road
London
NW11 7PE

Approved by order of the board of trustees on 26 November 2025 and signed on its behalf by:





D Duboy - Trustee

Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
CHABAD LUBAVITCH OF SOUTH LONDON


Independent examiner's report to the trustees of Chabad Lubavitch of South London ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 2025.

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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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.








Akiva Kahan FCA

JKA Accountancy Limited
923 Finchley Road
London
NW11 7PE

28 November 2025
Page 3
CHABAD LUBAVITCH OF SOUTH LONDON

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 28 FEBRUARY 2025

2025 2024
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 304,539 - 304,539 321,900

EXPENDITURE ON
Charitable activities 3
Sundries 495 - 495 98
Building repairs and refurbishment - - - 8,763
Charitable activities 201,398 - 201,398 173,839
Depreciation 2,758 17,172 19,930 20,356
Governance 1,801 - 1,801 2,395
Travel & motor expenses 11,928 - 11,928 6,505
Computer consumables 396 - 396 495
Rent 23,158 - 23,158 40,007
Total 241,934 17,172 259,106 252,458

NET INCOME/(EXPENDITURE) 62,605 (17,172 ) 45,433 69,442
Other recognised gains/(losses)
Gains on revaluation of fixed assets - - - 258,000
Net movement in funds 62,605 (17,172 ) 45,433 327,442

RECONCILIATION OF FUNDS
Total funds brought forward (220,348 ) 2,215,655 1,995,307 1,667,865

TOTAL FUNDS CARRIED FORWARD (157,743 ) 2,198,483 2,040,740 1,995,307

The notes form part of these financial statements

Page 4
CHABAD LUBAVITCH OF SOUTH LONDON (REGISTERED NUMBER: 08542368)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2025

2025 2024
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 8,276 2,198,483 2,206,759 2,225,904

CURRENT ASSETS
Debtors 9 10,067 - 10,067 -
Cash at bank 107,734 - 107,734 85,507
117,801 - 117,801 85,507

CREDITORS
Amounts falling due within one year 10 (8,720 ) - (8,720 ) (13,404 )

NET CURRENT ASSETS 109,081 - 109,081 72,103

TOTAL ASSETS LESS CURRENT
LIABILITIES
117,357
2,198,483
2,315,840
2,298,007

CREDITORS
Amounts falling due after more than one year 11 (275,100 ) - (275,100 ) (302,700 )

NET ASSETS (157,743 ) 2,198,483 2,040,740 1,995,307
FUNDS 13
Unrestricted funds (157,743 ) (220,348 )
Restricted funds 2,198,483 2,215,655
TOTAL FUNDS 2,040,740 1,995,307

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.


The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.


The notes form part of these financial statements

Page 5 continued...
CHABAD LUBAVITCH OF SOUTH LONDON (REGISTERED NUMBER: 08542368)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2025

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 26 November 2025 and were signed on its behalf by:





D Duboy - Trustee

The notes form part of these financial statements

Page 6
CHABAD LUBAVITCH OF SOUTH LONDON

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025


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, as modified by the revaluation of certain assets.

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.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Freehold property - 2% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments
The Charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Page 7 continued...
CHABAD LUBAVITCH OF SOUTH LONDON

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


1. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.




Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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 payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

2. DONATIONS AND LEGACIES
2025 2024
£    £   
Donations 304,539 321,900

3. CHARITABLE ACTIVITIES COSTS
Direct Support
Costs costs Totals
£    £    £   
Sundries 495 - 495
Charitable activities 201,398 - 201,398
Depreciation 19,930 - 19,930
Governance - 1,801 1,801
Travel & motor expenses 11,928 - 11,928
Computer consumables 396 - 396
Rent 23,158 - 23,158
257,305 1,801 259,106


Page 8 continued...
CHABAD LUBAVITCH OF SOUTH LONDON

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


4. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025 2024
£    £   
Depreciation - owned assets 19,930 20,356

5. TRUSTEES' REMUNERATION AND BENEFITS

Rabbi D Duboy a Trustee, received remuneration of £11,750 (2024 £9,456) for the provision of non Trustee related services.

Trustees' expenses

There were no trustees' expenses paid for the year ended 28 February 2025 nor for the year ended 28 February 2024.


6. STAFF COSTS

The average monthly number of employees during the year was as follows:

2025 2024
Rabbinical 2 2

No employees received emoluments in excess of £60,000.

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 321,901 (1 ) 321,900

EXPENDITURE ON
Charitable activities
Sundries 98 - 98
Building repairs and refurbishment 8,763 - 8,763
Charitable activities 173,839 - 173,839
Depreciation 3,184 17,172 20,356
Governance 2,395 - 2,395
Travel & motor expenses 6,505 - 6,505
Computer consumables 495 - 495
Rent 40,007 - 40,007
Total 235,286 17,172 252,458

NET INCOME/(EXPENDITURE) 86,615 (17,173 ) 69,442
Other recognised gains/(losses)
Gains on revaluation of fixed assets - 258,000 258,000

Page 9 continued...
CHABAD LUBAVITCH OF SOUTH LONDON

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund funds funds
£    £    £   
Net movement in funds 86,615 240,827 327,442

RECONCILIATION OF FUNDS
Total funds brought forward (306,963 ) 1,974,828 1,667,865

TOTAL FUNDS CARRIED FORWARD (220,348 ) 2,215,655 1,995,307

8. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 29 February 2024 2,250,000 9,913 9,047 2,268,960
Additions - 785 - 785
At 28 February 2025 2,250,000 10,698 9,047 2,269,745
DEPRECIATION
At 29 February 2024 34,345 6,149 2,562 43,056
Charge for year 17,172 1,137 1,621 19,930
At 28 February 2025 51,517 7,286 4,183 62,986
NET BOOK VALUE
At 28 February 2025 2,198,483 3,412 4,864 2,206,759
At 28 February 2024 2,215,655 3,764 6,485 2,225,904

The Freehold Property was valued on 22nd December 2022 by Clive Scrivener BSc of Scrivener Tibbats Ltd at £2.250M.

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Amounts owed by participating interests 10,067 -


Page 10 continued...
CHABAD LUBAVITCH OF SOUTH LONDON

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts (see note 12) 2,225 2,968
Trade creditors 3 -
Amounts owed to participating interests - 6,464
Other creditors 4,356 1,956
Accruals and deferred income 2,136 2,016
8,720 13,404

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Other loans (see note 12) 275,100 302,700

12. LOANS

An analysis of the maturity of loans is given below:

2025 2024
£    £   
Amounts falling due within one year on demand:
Bank overdrafts 2,225 2,968
Amounts falling due in more than five years:

Repayable by instalments:
These loans are advanced on an interest free basis. 275,100 302,700

13. MOVEMENT IN FUNDS
Net
At movement At
29.2.24 in funds 28.2.25
£    £    £   
Unrestricted funds
General fund (220,348 ) 62,605 (157,743 )

Restricted funds
Restricted Fund 824,268 (17,172 ) 807,096
Revaluation Reserve 1,391,387 - 1,391,387
2,215,655 (17,172 ) 2,198,483
TOTAL FUNDS 1,995,307 45,433 2,040,740

Page 11 continued...
CHABAD LUBAVITCH OF SOUTH LONDON

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


13. MOVEMENT IN FUNDS - continued

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 304,539 (241,934 ) 62,605

Restricted funds
Restricted Fund - (17,172 ) (17,172 )

TOTAL FUNDS 304,539 (259,106 ) 45,433


Comparatives for movement in funds

Net
movement At
At 1.3.23 in funds 28.2.24
£    £    £   
Unrestricted funds
General fund (306,963 ) 86,615 (220,348 )

Restricted funds
Restricted Fund 841,441 (17,173 ) 824,268
Revaluation Reserve 1,133,387 258,000 1,391,387
1,974,828 240,827 2,215,655
TOTAL FUNDS 1,667,865 327,442 1,995,307

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

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 321,901 (235,286 ) - 86,615

Restricted funds
Restricted Fund (1 ) (17,172 ) - (17,173 )
Revaluation Reserve - - 258,000 258,000
(1 ) (17,172 ) 258,000 240,827
TOTAL FUNDS 321,900 (252,458 ) 258,000 327,442

Page 12 continued...
CHABAD LUBAVITCH OF SOUTH LONDON

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


13. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.3.23 in funds 28.2.25
£    £    £   
Unrestricted funds
General fund (306,963 ) 149,220 (157,743 )

Restricted funds
Restricted Fund 841,441 (34,345 ) 807,096
Revaluation Reserve 1,133,387 258,000 1,391,387
1,974,828 223,655 2,198,483
TOTAL FUNDS 1,667,865 372,875 2,040,740

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 626,440 (477,220 ) - 149,220

Restricted funds
Restricted Fund (1 ) (34,344 ) - (34,345 )
Revaluation Reserve - - 258,000 258,000
(1 ) (34,344 ) 258,000 223,655
TOTAL FUNDS 626,439 (511,564 ) 258,000 372,875

14. RELATED PARTY DISCLOSURES

During the year the Freehold property at 42 St George's Road, Wimbledon, SW19 4ED from which the charity operates, was transferred over from Chabad Lubavitch UK CLUK ( charity number 227638) to Chabad Lubavitch of South London ( CLOSL). the transfer took place after CLOSL discharged a loan held by CLUK totalling £366,493.

Page 13