REGISTERED COMPANY NUMBER: 03625736 (England and Wales)

REGISTERED CHARITY NUMBER: 1073111

SQUARE FOUNDATION LIMITED

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Page

Reference and Administrative Details

1

Report of the Trustees

2

Statement of Financial Activities

3

Balance Sheet

4

to

5

Notes to the Financial Statements

6

to

9

TRUSTEES

Mr A M Surkis

Mr J J Fried

COMPANY SECRETARY

Y M Ciment

REGISTERED OFFICE

47 East Bank

London

N16 5PZ

REGISTERED COMPANY NUMBER

03625736 (England and Wales)

REGISTERED CHARITY NUMBER

1073111

BANKERS

Bank of Scotland

The Mound

Edinburgh

EHI 1YZ

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 30 September 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).

Reference and administrative information

Reference and administrative information is shown on page 1 of the financial statements and forms part of this report.

OBJECTIVES AND ACTIVITIES

Objects for public benefit

The objects of the charity are the advancement of the Orthodox Jewish Religion and Orthodox Jewish Education, the relief of poverty as well as general charitable activities.

The trustees confirm that they have referred to the Charity Commission's general guidance on public benefit.

ACHIEVEMENTS AND PERFORMANCE

Review of activities and achievement

The trustees are satisfied with the results for the year. The charity continues to maintain its properties, one used as a synagogue and the other used as a school by another charity.

FINANCIAL REVIEW

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 £1,701,798 (2024 - £1,669,476).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

The charity is constituted as a limited company and is governed by its Memorandum and Articles of Association dated 3 September 1998.

Organisational structure

The power to appoint new trustees is vested in the current board. New trustees are appointed based on personal competence, specialist skills and experience. They are induced into the working of the charity by the current board. They are also encouraged to read the Charity Commission's various publications on trustees.

Risk management

The trustees have reviewed the major risks that the charity faces and confirm that they have established systems to mitigate them.

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 8 July 2026 and signed on its behalf by:

Mr A M Surkis - Trustee

2025

2024

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

20,170

304

Other trading activities

2

18,061

18,061

Total

38,231

18,365

EXPENDITURE ON

Charitable activities

3

Premises costs

4,439

6,149

Support

1,470

1,254

Total

5,909

7,403

NET INCOME

32,322

10,962

RECONCILIATION OF FUNDS

Total funds brought forward

1,669,476

1,658,514

TOTAL FUNDS CARRIED FORWARD

1,701,798

1,669,476

2025

2024

Total

Total

funds

funds

Notes

£

£

FIXED ASSETS

Tangible assets

9

1,760,799

1,761,458

CURRENT ASSETS

Cash at bank

607

607

CREDITORS

Amounts falling due within one year

10

(15,360

)

(32,439

)

NET CURRENT ASSETS

(14,753

)

(31,832

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,746,046

1,729,626

CREDITORS

Amounts falling due after more than one year

11

(44,248

)

(60,150

)

NET ASSETS

1,701,798

1,669,476

FUNDS

Unrestricted funds:

General fund

1,701,798

1,669,476

TOTAL FUNDS

1,701,798

1,669,476

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 by the Board of Trustees and authorised for issue on 8 July 2026 and were signed on its behalf by:

Mr A M Surkis - Trustee

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.

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.

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

Governance costs

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

Tangible fixed assets

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

Fixtures and fittings

-

12.5% on reducing balance

Library

-

10% on reducing balance

Taxation

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

Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.

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 amount expected to be received or paid and not discounted.

Going concern

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

2.	OTHER TRADING ACTIVITIES

2025

2024

Unrestricted

Total

funds

funds

£

£

Rental income

18,061

18,061

3.	CHARITABLE ACTIVITIES COSTS

Direct

Support

Costs (see

costs (see

note 4)

note 5)

Totals

£

£

£

Premises costs

4,439

-

4,439

Support

-

1,470

1,470

4,439

1,470

5,909

4.	DIRECT COSTS OF CHARITABLE ACTIVITIES

2025

2024

£

£

Premises Costs

4,439

6,149

5.	SUPPORT COSTS

Governance

costs

£

Support

1,470

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

2025

2024

Total

Support

activities

£

£

Accountancy fees

-

900

Independent examiner's fee

360

-

Independent examiner's other fees

720

-

General expenses

390

354

1,470

1,254

6.	NET INCOME/(EXPENDITURE)

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

2025

2024

£

£

Depreciation - owned assets

659

749

7.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2025 nor for the year ended 30 September 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 September 2025 nor for the year ended 30 September 2024.

8.	AVERAGE STAFF NUMBERS

The average number of staff in the year was Nil ( 2024 - Nil).

9.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Library

Totals

£

£

£

£

COST

At 1 October 2024 and 30 September 2025

1,755,915

82,269

10,089

1,848,273

DEPRECIATION

At 1 October 2024

-

78,073

8,742

86,815

Charge for year

-

525

134

659

At 30 September 2025

-

78,598

8,876

87,474

NET BOOK VALUE

At 30 September 2025

1,755,915

3,671

1,213

1,760,799

At 30 September 2024

1,755,915

4,196

1,347

1,761,458

No depreciation is provided on freehold property.

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 12)

14,280

12,660

Other creditors

-

17,446

Accruals and deferred income

1,080

2,333

15,360

32,439

11.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 12)

44,248

60,150

12.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year on demand:

Bank loans

14,280

12,660

Amounts falling due between two and five years:

Bank loans - 2-5 years

42,840

50,640

Amounts falling due in more than five years:

Repayable by instalments:

Bank loans more 5 yr by instal

1,408

9,510

13.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

58,528

72,810

The bank loans are secured by legal charges over the charity's properties.

14.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 September 2025.