REGISTERED COMPANY NUMBER: 01547535 (England and Wales)

REGISTERED CHARITY NUMBER: 282873

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

CARLEE LIMITED

Page

Report of the Trustees

1

to

2

Trustees' Responsibility Statement

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Statement of Financial Position

6

to

7

Statement of Cash Flows

8

Notes to the Statement of Cash Flows

9

Notes to the Financial Statements

10

to

15

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 31 March 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 principal objectives of the charity are:

-The advancement of religion in accordance with the Orthodox Jewish Faith

-The relief of poverty, and

-Any other activities recognised by English Law as charitable.

In order to achieve these objectives, the charity provided donations to various charitable organisations whose objective closely aligns with that of Carlee Limited.

Significant activities

During the year, the charity received donation totalling £702,342 [2024 - £202,500].

Public benefit

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

The charity was set up to support the activities of religious Jewish organisations especially in the field of religious education. The trustees identify institutions and organisations which meet its criteria and regularly support a number of these institutions and organisations, which themselves are growing not only in England but also worldwide.

The charity is also supportive of organisations which are solely committed to the relief of poverty. Such organisations assist needy Jewish families financially and also through the distribution of basic necessities.

The income of the charity is derived from donations and investments. The trustees continued their support of those organisations deemed to promote the objects of this charity.

Grantmaking

The charity accepts applications for grants from representatives of various charities, which are reviewed by the trustees on a regular basis.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The charity continued to support charities whose objective closely aligns with its own. During the year, the charity paid donations totalling £1,185,000 [2024 - £572,500] to various charitable institutions.

FINANCIAL REVIEW

Principal funding sources

The charity is financially dependent on income from its investment and charitable donation.

Investment policy and objectives

The governing document of the charity, memorandum and article of association, authorises the trustees to make and hold investments using the general funds of the charity.

Reserves policy

The reserves policy is to ensure that there is sufficient stream of income to meet the ongoing calls made on the charity.

Going concern

The trustees are confident that the charity has adequate resources and operational plan to continue into the foreseeable future. Thus, the trustees consider the use of going concern basis to be appropriate.

FUTURE PLANS

There are no current plans to change the activities or modus operandi in the foreseeable future.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by it's governing document, it's memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act, 2006.

Related parties

Details of related party transaction and balances are provided in the notes to the financial statement where necessary.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

01547535 (England and Wales)

Registered Charity number

282873

Registered office

32 Paget Road

Stamford Hill

London

N16 5NQ

Trustees

B D Stroh

A S C Singer

E Bleier

Independent Examiner

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

Approved by order of the board of trustees on 23 December 2025 and signed on its behalf by:

B D Stroh - Trustee

The trustees (who are also the directors of Carlee Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charities SORP;

-	make judgements and estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent examiner's report to the trustees of Carlee Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 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.

Malcolm Venitt, A. C. A

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

23 December 2025

31.3.25

31.3.24

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

702,342

202,500

Investment income

3

82,430

82,440

Total

784,772

284,940

EXPENDITURE ON

Charitable activities

4

Charitable

1,185,000

572,500

Other

14,327

1,422

Total

1,199,327

573,922

Net gains on investments

28,676

-

NET INCOME/(EXPENDITURE)

(385,879

)

(288,982

)

RECONCILIATION OF FUNDS

Total funds brought forward

1,466,915

1,755,897

TOTAL FUNDS CARRIED FORWARD

1,081,036

1,466,915

31.3.25

31.3.24

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Investments

9

200

200

CURRENT ASSETS

Debtors

10

1,771,754

2,156,754

Cash at bank

10,233

11,112

1,781,987

2,167,866

CREDITORS

Amounts falling due within one year

11

(701,151

)

(701,151

)

NET CURRENT ASSETS

1,080,836

1,466,715

TOTAL ASSETS LESS CURRENT LIABILITIES

1,081,036

1,466,915

NET ASSETS/(LIABILITIES)

1,081,036

1,466,915

FUNDS

12

Unrestricted funds

1,081,036

1,466,915

TOTAL FUNDS

1,081,036

1,466,915

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 and authorised for issue by the Board of Trustees and authorised for issue on 23 December 2025 and were signed on its behalf by:

B D Stroh - Trustee

Cash flows from operating activities

Cash generated from operations

1

(111,985

)

(290,262

)

Net cash used in operating activities

(111,985

)

(290,262

)

Cash flows from investing activities

Sale of fixed asset investments

28,676

-

Interest received

82,430

82,440

Net cash provided by investing activities

111,106

82,440

Change in cash and cash equivalents in the reporting period

(879

)

(207,822

)

Cash and cash equivalents at the beginning of the reporting period

11,112

218,934

Cash and cash equivalents at the end of the reporting period

10,233

11,112

1.	RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

31.3.25

31.3.24

£

£

Net expenditure for the reporting period (as per the Statement of Financial Activities)

(385,879

)

(288,982

)

Adjustments for:

Losses on investments

(28,676

)

-

Interest received

(82,430

)

(82,440

)

Decrease in debtors

385,000

124,400

Decrease in creditors

-

(43,240

)

Net cash used in operations

(111,985

)

(290,262

)

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank

11,112

(879

)

10,233

11,112

(879

)

10,233

Total

11,112

(879

)

10,233

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.

Preparation of consolidated financial statements

The financial statements contain information about Carlee Limited as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

The charity is also exempt under Charities Act 2011 to prepare group accounts.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

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.

Governance costs

Governance costs are associated with the governance arrangements of the charity and relate to the general running of the charity. These costs include independent examination, legal advice for Trustees and costs associated with meeting constitutional and statutory requirements such as the cost of Trustee meetings and the preparation of the statutory accounts.

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.

2.	DONATIONS AND LEGACIES

31.3.25

31.3.24

£

£

Donations

702,342

202,500

3.	INVESTMENT INCOME

31.3.25

31.3.24

£

£

Interest receivable

82,430

82,440

4.	CHARITABLE ACTIVITIES COSTS

Grant

funding of

activities

(see note

5)

£

Charitable

1,185,000

5.	GRANTS PAYABLE

31.3.25

31.3.24

£

£

Charitable

1,185,000

572,500

The total grants paid to institutions during the year was as follows:

31.3.25

31.3.24

£

£

Attainment of education

257,500

217,500

Advancement of religion

652,500

172,000

Relief of poverty

250,000

60,000

Health and social welfare

25,000

123,000

1,185,000

572,500

The list of charitable institutions supported by the charity during the year are as below:

Amount in £

Name

31.03.2025

31.03.2024

1

KEREN HABINYAN LIMITED - 1144177

86,000

-

2

UNITED TALMUDICAL ASSOCIATES LIMITED - 291834

86,000

2,500

3

LEHACHZIKOM - 1193663

72,000

-

4

ALTE FEIGE TRUST - 1126587

71,000

50,000

5

LECHEM SHLOMO - 1157730

66,000

-

6

CMZ LTD - 1087870

61,000

-

7

ACHISOMOCH AID COMPANY LTD - 278387

60,500

30,000

8

ASSER BISHVIL FOUNDATION - 1112477

57,500

37,000

9

UTRY - 1154569

50,000

-

Others

575,000

453,000

Total

1,185,000

572,500

6.	SUPPORT COSTS

Governance

Finance

costs

Totals

£

£

£

Other resources expended

439

13,888

14,327

7.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

202,500

Investment income

82,440

Total

284,940

EXPENDITURE ON

Charitable activities

Charitable

572,500

Other

1,422

Total

573,922

NET INCOME/(EXPENDITURE)

(288,982

)

RECONCILIATION OF FUNDS

Total funds brought forward

1,755,897

TOTAL FUNDS CARRIED FORWARD

1,466,915

9.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

MARKET VALUE

At 1 April 2024 and 31 March 2025

200

NET BOOK VALUE

At 31 March 2025

200

At 31 March 2024

200

There were no investment assets outside the UK.

10.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other debtors

1,771,754

2,156,754

Other debtor includes amount receivable from Investwell Estates Limited for £1,763,754 [2024 - £2,102,754].

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other creditors

699,351

699,351

Accrued expenses

1,800

1,800

701,151

701,151

Other creditor includes amount payable to the subsidiaries and other entities connected to the trustees.

12.	MOVEMENT IN FUNDS

Net

movement

At

At 1.4.24

in funds

31.3.25

£

£

£

Unrestricted funds

General fund

1,466,915

(385,879

)

1,081,036

TOTAL FUNDS

1,466,915

(385,879

)

1,081,036

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

784,772

(1,199,327

)

28,676

(385,879

)

TOTAL FUNDS

784,772

(1,199,327

)

28,676

(385,879

)

Comparatives for movement in funds

Net

movement

At

At 1.4.23

in funds

31.3.24

£

£

£

Unrestricted funds

General fund

1,755,897

(288,982

)

1,466,915

TOTAL FUNDS

1,755,897

(288,982

)

1,466,915

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

284,940

(573,922

)

(288,982

)

TOTAL FUNDS

284,940

(573,922

)

(288,982

)

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

Net

movement

At

At 1.4.23

in funds

31.3.25

£

£

£

Unrestricted funds

General fund

1,755,897

(674,861

)

1,081,036

TOTAL FUNDS

1,755,897

(674,861

)

1,081,036

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

1,069,712

(1,773,249

)

28,676

(674,861

)

TOTAL FUNDS

1,069,712

(1,773,249

)

28,676

(674,861

)

13.	RELATED PARTY DISCLOSURES

During the year, the charity had following transactions, balances and events which require disclosure.

1. The charity has debtor balance outstanding from Investwell Estates Limited of £1,763,754 [2024 - £2,102,754] for which interest has been charged. Total interest received for the balance for the period is £82,430 [2024 - £82,440].

2. The charity sold the entire share capital of Elmers End Estates Ltd, North End Estates Ltd and Heath Road Estates Ltd to Investwell Estates Ltd for fair market value.