Soimech Noiflim Charity Accounts

COMPANY REGISTRATION NUMBER: 04483198

CHARITY REGISTRATION NUMBER: 1093627

Soimech Noiflim

Company Limited by Guarantee

Financial Statements

31 March 2026

Soimech Noiflim

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2026

	Pages

Trustees' annual report (incorporating the director's report)	1 to 4

Independent auditor's report to the trustees	5 to 9

Statement of financial activities (including income and expenditure account)	10

Statement of financial position	11

Statement of cash flows	12

Notes to the financial statements	13 to 18

Soimech Noiflim

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2026

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2026 .

Reference and administrative details

Registered charity name	Soimech Noiflim

Charity registration number	1093627

Company registration number	04483198

Principal office and registered	Unit 3 Edge Business Centre
office	Humber Road
	London
	NW2 6EW

The trustees

	N Bleier
	I Mett

Auditor	Haffner Hoff Auditors Ltd
	Accountants & Statutory Auditor
	2nd Floor - Parkgates
	Bury New Road
	Prestwich
	Manchester
	M25 0TL

Bankers	Barclays Bank Plc
	1 Churchill Place
	London
	E14 5HP

Structure, governance and management

Soimech Noiflim is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 11th July 2002 as a company and the company number is 04483198 . It was registered as a charity on 30 August 2002 with a charity number 1093627 .

The Charity is run by the trustees who all act in an honorary capacity. A new trustee would receive copies of the previous years' Annual Report and Accounts and a copy of the Charity Commission leaflet 'The Essential Trustee : What you need to know'.

Organisation

The administration of the charity is carried out by the trustees.

Risk Management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to its investment in property and are satisfied that systems are in place to manage exposure to the major risks.

Objectives and activities

The charity's objects are the relief of poverty amongst the elderly or persons in conditions of need, hardship and distress in the Jewish community; the advancement of the orthodox Jewish religion; the advancement of education, according to the tenets of the orthodox Jewish faith and to promote any charitable purpose for the benefit of the community. The charity has invested in property to achieve these objectives.

Public Benefit

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

Achievements and performance

Rental income of £1,039,014 (2025: £1,040,094) was received from the charity's investment property being the Travelodge Hotel and Restaurant in Quayside, Newcastle during the year providing a favourable return on investment.

Bank interest received totalled £5,393 (2025: £5,846).

The charity incurred investment management costs of £287,719 (2025: £382,888), including interest costs of £230,209 (2025: £269,123). Support costs were £4,526 (2025: £4,441).

The charity made grants totalling £575,000 (2025: £495,000) to charitable institutions in accordance with its objects.

The net income in the year totalled £177,162 (2025: £163,611).

Financial review

At the year-end the free reserves of the charity, comprising net current liabilities, were in deficit of £154,238 (2025: £140,945) all of which is attributable to the unrestricted fund. Current liabilities include rent received in advance as well as loan repayments due up to a year from the year-end. These liabilities do not present cash-flow concerns to the charity and the trustees are confident that the charity is a going concern.

Investment Policy

Under the Memorandum and Articles of the charity, the charity has the power to invest in any way the trustees wish. The trustees have considered the most appropriate policy for investing funds and have invested in a property, to receive a net annual return of 6% on the value of the property, which the trustees consider satisfactory.

The charity invested in the Travelodge Hotel and Restaurant in Quayside, Newcastle in 2002 and having held the property for 24 years with a satisfactory return, the trustees believe that this investment policy has been vindicated.

Reserves Policy

The total funds of the charity stand at £9,086,898 (2025: £8,909,736) all of which is unrestricted.

The free reserves of the charity, being the net current liabilities, are in deficit of £154,238 (2025: £140,945) all of which is attributable to the unrestricted fund. Current liabilities include rent received in advance as well as loan repayments due up to a year from the year-end. These liabilities do not present cash-flow concerns to the charity and the trustees are confident that the charity is a going concern.

The trustees are satisfied that the balance of the unrestricted fund is an acceptable level of reserves given the fact that these reserves are effectively tied up in the investment property itself and will only be available for distribution on eventual sale of the property.

Grant Making Policy

Grants are made to various distributing charities, whose objects are in accordance with those of Soimech Noiflim , the trustees of these charities, distributing the funds in accordance with the wishes of the company's directors. These grants are regularly monitored to ensure compliance with the trustees' wishes.

Plans for future periods

It is anticipated that the income of the charity will remain constant and that the charity will continue to support charitable projects in accordance with its objects.

Trustees' responsibilities statement

The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the applicable Charities SORP; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and - they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

The trustees' annual report was approved on 26 August 2026 and signed on behalf of the board of trustees by:

N Bleier

Trustee

Soimech Noiflim

Company Limited by Guarantee

Independent Auditor's Report to the Trustees

Year ended 31 March 2026

Opinion

We have audited the financial statements of Soimech Noiflim (the 'charity') for the year ended 31 March 2026 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31 March 2026 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Emphasis of matter

As discussed in note 3 to the financial statements, the charity has net current liabilities and an overall deficit on its free reserves. The charity has elected to continue to prepare the financial statements on a going concern basis. Our opinion is not modified with respect to that matter.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the trustees' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to take advantage of the small companies' exemptions from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following: the nature of the industry and sector, control environment and business performance; results of our enquiries of management about their own identification and assessment of the risks of irregularities; any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to (a) identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance; (b) detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; (c) the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; (d) the matters identified as to how and where fraud might occur in the financial statements and any potential indicators of fraud. In common with all audits under ISAS (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, UK Corporate Governance Code, UK tax legislation and UK Charity Act. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. As a result of performing the above, we identified no key audit matters relating to the potential risk of fraud. Our procedures to respond to risks identified included the following: reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; enquiring of management concerning actual and potential litigation and claims; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; obtaining an understanding of provisions and holding discussions with management to understand the basis of recognition or non-recognition of tax provisions; and in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. - Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report

This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

Howard Schwalbe

(Senior Statutory Auditor)

For and on behalf of

Haffner Hoff Auditors Ltd

Accountants & Statutory Auditor

2nd Floor - Parkgates

Bury New Road

Prestwich

Manchester

M25 0TL

26 August 2026

Soimech Noiflim

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 31 March 2026

	2026		2025
	Unrestricted funds	Total funds	Total funds
Note	£	£	£

Income and endowments

Investment income	5	1,044,407	1,044,407	1,045,940
		------------	------------	------------
Total income		1,044,407	1,044,407	1,045,940
		------------	------------	------------

Expenditure

Expenditure on raising funds:

	Investment management costs	6	287,719	287,719	382,888
Expenditure on charitable activities		7,8	579,526	579,526	499,441
			------------	------------	------------
Total expenditure			867,245	867,245	882,329
			------------	------------	------------

	------------	------------	------------
Net income and net movement in funds	177,162	177,162	163,611
	------------	------------	------------

Reconciliation of funds

Total funds brought forward	8,909,736	8,909,736	8,746,125
	------------	------------	------------
Total funds carried forward	9,086,898	9,086,898	8,909,736
	------------	------------	------------

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

All income and expenditure derive from continuing activities.

Soimech Noiflim

Company Limited by Guarantee

Statement of Financial Position

31 March 2026

	2026		2025
Note	£	£	£

Fixed assets

Investments	14		12,500,000	12,500,000

Current assets

Debtors	15	54,204	55,001
Cash at bank and in hand		322,331	326,478
		---------	---------
		376,535	381,479

Creditors: amounts falling due within one year	16	530,773		522,424
		---------		---------
Net current liabilities			154,238	140,945
			-------------	-------------
Total assets less current liabilities			12,345,762	12,359,055

Creditors: amounts falling due after more than one year	17	3,258,864	3,449,319
		-------------	-------------
Net assets		9,086,898	8,909,736
		-------------	-------------

Funds of the charity

Unrestricted funds:

	Revaluation reserve		3,605,684		3,605,684
	Other unrestricted income funds		5,481,214		5,304,052
			------------		------------
Total unrestricted funds			9,086,898		8,909,736
				------------	------------
Total charity funds		18		9,086,898	8,909,736
				------------	------------

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

These financial statements were approved by the board of trustees and authorised for issue on 26 August 2026 , and are signed on behalf of the board by:

N Bleier

Trustee

Soimech Noiflim

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 March 2026

	2026	2025
	£	£

Cash flows from operating activities

Net income	177,162	163,611

Adjustments for:
Dividends, interest and rents from investments	(1,039,014)	(1,040,094)
Other interest receivable and similar income	( 5,393)	( 5,846)
Accrued income	( 1,503)	( 14,494)

Changes in:
Trade and other debtors	797	249,444
Trade and other creditors	( 148)	3,497
	------------	------------
Cash generated from operations	( 868,099)	( 643,882)

Interest received	5,393	5,846
	---------	---------
Net cash used in operating activities	( 862,706)	( 638,036)
	---------	---------

Cash flows from investing activities

Dividends, interest and rents from investments	1,039,014	1,040,094
	------------	------------
Net cash from investing activities	1,039,014	1,040,094
	------------	------------

Cash flows from financing activities

Proceeds from borrowings	( 180,455)	( 130,681)
	------------	------------
Net cash used in financing activities	( 180,455)	( 130,681)
	------------	------------

Net (decrease)/increase in cash and cash equivalents	( 4,147)	271,377
Cash and cash equivalents at beginning of year	326,478	55,101
	---------	---------
Cash and cash equivalents at end of year	322,331	326,478
	---------	---------

Soimech Noiflim

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2026

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Unit 3 Edge Business Centre, Humber Road, London, NW2 6EW.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment property measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

Although the free reserves are in a negative position, current liabilities include rent received in advance as well as loan repayments due up to a year from the year-end. These liabilities do not present cash-flow concerns to the charity and the trustees are confident that the charity is a going concern.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported at the year end besides for valuation of investment property.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Incoming resources

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

4. Limited by guarantee

The Charity is a Company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £l0.

5. Investment income

	Unrestricted Funds	Total Funds 2026	Unrestricted Funds	Total Funds 2025
	£	£	£	£
Income from investment properties	1,039,014	1,039,014	1,040,094	1,040,094
Bank interest receivable	5,393	5,393	5,846	5,846
	------------	------------	------------	------------
	1,044,407	1,044,407	1,045,940	1,045,940
	------------	------------	------------	------------

6. Investment management costs

	Unrestricted Funds	Total Funds 2026	Unrestricted Funds	Total Funds 2025
	£	£	£	£
Agents Commission	15,429	15,429	15,429	15,429
Property repairs and maintenance	42,081	42,081	44,911	44,911
Costs of obtaining finance	–	–	53,425	53,425
Loan Interest	230,209	230,209	269,123	269,123
	---------	---------	---------	---------
	287,719	287,719	382,888	382,888
	---------	---------	---------	---------

7. Expenditure on charitable activities by fund type

	Unrestricted Funds	Total Funds 2026	Unrestricted Funds	Total Funds 2025
	£	£	£	£
Grants payable	575,000	575,000	495,000	495,000
Support costs	4,526	4,526	4,441	4,441
	---------	---------	---------	---------
	579,526	579,526	499,441	499,441
	---------	---------	---------	---------

8. Expenditure on charitable activities by activity type

	Grant funding of activities	Support costs	Total funds 2026	Total fund 2025
	£	£	£	£
Grants payable	575,000	277	575,277	495,390
Governance costs	–	4,249	4,249	4,051
	---------	-------	---------	---------
	575,000	4,526	579,526	499,441
	---------	-------	---------	---------

9. Analysis of support costs

	Analysis of support costs	Total 2026	Total 2025
	£	£	£
General office	277	277	390
Governance costs	4,249	4,249	4,051
	-------	-------	-------
	4,526	4,526	4,441
	-------	-------	-------

10. Analysis of grants

	2026	2025
	£	£

Grants to institutions

Newpier Ltd	115,000	99,000
Rontades Ltd	115,000	99,000
The Richmond Trust	115,000	99,000
Beauland Ltd	115,000	99,000
Greatgreen Ltd	115,000	99,000
	---------	---------
	575,000	495,000
	---------	---------
Total grants	575,000	495,000
	---------	---------

The above grants were made to institutions and went towards the following purposes; the relief of poverty, relief of those in need by reason of ill health or disability, the advancement of Jewish religion and the advancement of Jewish religious education.

11. Auditors remuneration

	2026	2025
	£	£
Fees payable for the audit of the financial statements	3,250	3,100
	-------	-------

Fees payable to the charity's auditor and its associates for other services:

Other non-audit services	1,000	950
	-------	-------

12. Staff costs

The average head count of employees during the year was Nil (2025: Nil).

No employee received employee benefits of more than £60,000 during the year (2025: Nil).

13. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

14. Investments

	Investment properties
	£
Cost or valuation
At 1 April 2025 and 31 March 2026	12,500,000
	-------------
Impairment
At 1 April 2025 and 31 March 2026
Carrying amount
At 31 March 2026	12,500,000
	-------------
At 31 March 2025	12,500,000
	-------------

All investments shown above are held at valuation.

Investment properties

The investment property has been valued by the trustees as at the year end based on a recent RICS valuation. The trustees consider the current carrying value to be the fair value.

15. Debtors

	2026	2025
	£	£
Trade debtors	49,718	–
Rent Received	4,486	55,001
	--------	--------
	54,204	55,001
	--------	--------

16. Creditors: amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts - secured	180,000	170,000
Trade creditors	5,394	5,409
Accruals and deferred income	287,994	289,497
Social security and other taxes	57,385	57,518
	---------	---------
	530,773	522,424
	---------	---------

17. Creditors: amounts falling due after more than one year

	2026	2025
	£	£
Bank loans and overdrafts - secured	3,258,864	3,449,319
	------------	------------

18. Analysis of charitable funds

Unrestricted funds

	At 1 April 2025	Income	Expenditure	At 31 March 2026
	£	£	£	£
General funds	5,304,052	1,044,407	(867,245)	5,481,214
Revaluation reserve	3,605,684	–	–	3,605,684
	------------	------------	---------	------------
	8,909,736	1,044,407	(867,245)	9,086,898
	------------	------------	---------	------------

	At 1 April 2024	Income	Expenditure	At 31 March 2025
	£	£	£	£
General funds	5,140,441	1,045,940	(882,329)	5,304,052
Revaluation reserve	3,605,684	–	–	3,605,684
	------------	------------	---------	------------
	8,746,125	1,045,940	(882,329)	8,909,736
	------------	------------	---------	------------

19. Analysis of net assets between funds

	Unrestricted Funds	Total Funds 2026
	£	£
Investments	12,500,000	12,500,000
Current assets	376,535	376,535
Creditors less than 1 year	(530,773)	(530,773)
Creditors greater than 1 year	(3,258,864)	(3,258,864)
	-------------	-------------
Net assets	9,086,898	9,086,898
	-------------	-------------

	Unrestricted Funds	Total Funds 2025
	£	£
Investments	12,500,000	12,500,000
Current assets	381,479	381,479
Creditors less than 1 year	(522,424)	(522,424)
Creditors greater than 1 year	(3,449,319)	(3,449,319)
	-------------	-------------
Net assets	8,909,736	8,909,736
	-------------	-------------

20. Analysis of changes in net debt

	At 1 Apr 2025	Cash flows	At 31 Mar 2026
	£	£	£
Cash at bank and in hand	326,478	(4,147)	322,331
Debt due within one year	(170,000)	(10,000)	(180,000)
Debt due after one year	(3,449,319)	190,455	(3,258,864)
	------------	---------	------------
	( 3,292,841)	176,308	( 3,116,533)
	------------	---------	------------

Soimech Noiflim

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2026

21. Related parties

Mr Norman Bleier and Mr Ian Mett, trustees of the charity, are also trustees of Rontades Ltd. During the year, grants of £115,000 were paid by the charity to Rontades Ltd. Mr Norman Bleier is also a trustee of Greatgreen Ltd. During the year, grants of £115,000 were paid by the charity to Greatgreen Ltd. Mrs Janet Bleier, wife of Mr Norman Bleier, is a trustee of Beauland Ltd. During the year, grants of £115,000 were paid by the charity to Beauland Ltd. The objects of the above-mentioned charities are all in line with the objects of Soimech Noiflim . Mr Norman Bleier and Mr Ian Mett are directors of Blair Estates Ltd. During the year £15,429 was payable to Blair Estates relating to property management fees. These transactions were at arm's length.

22. Taxation

Soimech Noiflim is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.