REGISTERED COMPANY NUMBER: 03269511 (England and Wales)

REGISTERED CHARITY NUMBER: 1061689

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

KESHER LTD

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Statement of Financial Position

6

to

7

Notes to the Financial Statements

8

to

13

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 October 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 object and its principal activities are:

The promotion of the Jewish religion and the advancement of education in the Jewish religion, in Greater London and the provinces.

The Charity is organised so that the Directors and Trustees meet regularly to manage its affairs.There are two part-time administrators, who manage the day to day administration of the charity.We are grateful to the many volunteers who assist the Charity in numerous ways.

Public benefit

The trustees have carefully considered the public benefit requirements and their duty to ensure that they are compliant with them. They feel that the activities as detailed below, more than adequately, satisfy the public benefit requirement.

The trustees continue to operate within the confines of the charity objectives namely in the respect of the advancement of Orthodox Jewish education by providing educational outreach programmes as well as worship facilities which are open to all members of the Jewish Faith.

ACHIEVEMENTS AND PERFORMANCE

The trustees are satisfied with the performance of the Charity during the past year.

Despite the reduced level of donations we have maintained the level of participation in our educational programming and the resources allocated thereto.

In view of the wider economic climate, the Trustees are satisfied with the position of the Charity and its continued ability to impact favourably on the lives of its many beneficiaries.

It is worth noting that expanded use of internet technology has extended our 'reach' as well, at modest cost.

FINANCIAL REVIEW

Financial position

The Statement of Financial Activities shows a Surplus of £69,936 for the year (2024: Deficit of £45,160). As at the year end, our reserves stand at a surplus of £847,030 ( 2024: £777,094).

Reserves Policy

The Trustees have been concentrating on building up the reserves of the charity to a level that will ensure that operation of the charity is not affected by any significant downturns in donation levels caused by the vagaries of the economy. They feel that a cash reserve level equivalent to two years operational expenses would allow them to achieve the required safety margin.

Our cash Reserves stood at £480,121 as at the year end ( 2024 £376,349)

FUTURE PLANS

Having operated from their current premises for 20 years, the Charity has plans to renovate and expand. Working with an architect and specialist planning consultant, a formal planning application is in preparation. Once completed, the Charity's ability to serve its constituents will be greatly enhanced. The trustees feel that fiscal responsibility dictates that this project can only be realistically contemplated from a position of financial stability.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The trust is constituted under the Memorandum and Articles of Association and incorporated on 25th October 1996.The trustees are appointed by the Board of Trustees who would normally appoint new trustees to fill vacancies arising through resignation or death of an existing Trustee. At the trustees' meeting, which is held every quarter, the trustees agree the broad strategy and areas of activity for the Trust, including consideration of reserves, risk management policies and performance.

Organisational structure

All directors of the company are also trustees of the charity , and there are no other trustees. All of the trustees named on page 1 served throughout the year unless otherwise stated.

The Board has the power to appoint additional trustees as it considers fit to do so.

Risk management

The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions.

The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03269511 (England and Wales)

Registered Charity number

1061689

Registered office

923 Finchley Road

Golders Green

London

NW11 7PE

Trustees

S Greenman

Dr M Sinclair

M Wulwick

P L Berger (appointed 24.6.2026)

Dr M J Sinclair Director

Company Secretary

Mr. R Simon

Independent Examiner

JKA Accountancy Limited

Marlborough House

298 Regents Park Road

London

N3 2SZ

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 20 August 2026 and signed on its behalf by:

M Wulwick - Trustee

Independent examiner's report to the trustees of Kesher Ltd ('the Company')

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

Marlborough House

298 Regents Park Road

London

N3 2SZ

Date: August 2026

2025

2024

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

256,829

-

256,829

186,247

Investment income

3

14,032

-

14,032

-

Total

270,861

-

270,861

186,247

EXPENDITURE ON

Charitable activities

4

Educational, outreach and cultural activities

196,091

-

196,091

226,877

Governance costs

4,834

-

4,834

4,530

Total

200,925

-

200,925

231,407

NET INCOME/(EXPENDITURE)

69,936

-

69,936

(45,160

)

RECONCILIATION OF FUNDS

Total funds brought forward

777,094

-

777,094

822,254

TOTAL FUNDS CARRIED FORWARD

847,030

-

847,030

777,094

2025

2024

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

9

353,495

-

353,495

364,607

CURRENT ASSETS

Debtors

10

16,349

-

16,349

16,349

Cash at bank

480,120

-

480,120

398,447

496,469

-

496,469

414,796

CREDITORS

Amounts falling due within one year

11

(2,934

)

-

(2,934

)

(2,309

)

NET CURRENT ASSETS

493,535

-

493,535

412,487

TOTAL ASSETS LESS CURRENT LIABILITIES

847,030

-

847,030

777,094

NET ASSETS

847,030

-

847,030

777,094

FUNDS

12

Unrestricted funds:

General fund

847,030

777,094

TOTAL FUNDS

847,030

777,094

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 20 August 2026 and were signed on its behalf by:

M Wulwick - 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.

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

Torah scrolls

-

not provided

Fixtures, Fittings and Equipment

-

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.

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.

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

233,402

163,081

Gift aid

17,335

17,719

Grants

6,092

5,447

256,829

186,247

Grants received, included in the above, are as follows:

2025

2024

£

£

Government Grants

6,092

5,447

3.	INVESTMENT INCOME

2025

2024

£

£

Deposit account interest

14,032

-

4.	CHARITABLE ACTIVITIES COSTS

Direct

Support

Costs

costs

Totals

£

£

£

Educational, outreach and cultural activities

180,350

15,741

196,091

Governance costs

-

4,834

4,834

180,350

20,575

200,925

5.	NET INCOME/(EXPENDITURE)

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

2025

2024

£

£

Depreciation - owned assets

11,112

11,220

6.	TRUSTEES' REMUNERATION AND BENEFITS

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

Trustees' expenses

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

7.	STAFF COSTS

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

2025

2024

Members of staff

1

1

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

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

fund

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

186,247

-

186,247

EXPENDITURE ON

Charitable activities

Educational, outreach and cultural activities

226,877

-

226,877

Governance costs

4,530

-

4,530

Total

231,407

-

231,407

NET INCOME/(EXPENDITURE)

(45,160

)

-

(45,160

)

RECONCILIATION OF FUNDS

Total funds brought forward

822,254

-

822,254

TOTAL FUNDS CARRIED FORWARD

777,094

-

777,094

9.	TANGIBLE FIXED ASSETS

Fixtures,

Fittings

Freehold

Torah

and

property

scrolls

Equipment

Totals

£

£

£

£

COST

At 1 November 2024 and 31 October 2025

536,006

15,100

37,211

588,317

DEPRECIATION

At 1 November 2024

189,220

-

34,490

223,710

Charge for year

10,721

-

391

11,112

At 31 October 2025

199,941

-

34,881

234,822

NET BOOK VALUE

At 31 October 2025

336,065

15,100

2,330

353,495

At 31 October 2024

346,786

15,100

2,721

364,607

10.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

16,349

16,349

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Social security and other taxes

(65

)

(57

)

Net wages payable

-

(285

)

Accruals and deferred income

2,999

2,651

2,934

2,309

12.	MOVEMENT IN FUNDS

Net

At

movement

At

1.11.24

in funds

31.10.25

£

£

£

Unrestricted funds

General fund

777,094

69,936

847,030

TOTAL FUNDS

777,094

69,936

847,030

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

270,861

(200,925

)

69,936

TOTAL FUNDS

270,861

(200,925

)

69,936

Comparatives for movement in funds

Net

At

movement

At

1.11.23

in funds

31.10.24

£

£

£

Unrestricted fund

822,254

(45,160

)

777,094

TOTAL FUNDS

822,254

(45,160

)

777,094

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted fund

186,247

(231,407

)

(45,160

)

TOTAL FUNDS

186,247

(231,407

)

(45,160

)

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

Net

At

movement

At

1.11.23

in funds

31.10.25

£

£

£

Unrestricted fund

822,254

24,776

847,030

TOTAL FUNDS

822,254

24,776

847,030

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted fund

457,108

(432,332

)

24,776

TOTAL FUNDS

457,108

(432,332

)

24,776

13.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 October 2025.