Tzedokoh Vechesed Limited - Charities report

REGISTERED COMPANY NUMBER: 04099989 (England and Wales)

REGISTERED CHARITY NUMBER: 1084583

Report of the Trustees and

Financial Statements for the Year Ended 31 October 2025

for

Tzedokoh Vechesed Limited

Page

Report of the Trustees

1

to

4

Report of the Independent Auditors

5

to

8

Statement of Financial Activities

9

Balance Sheet

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

to

18

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 activity continue to be that of providing grants for the enhancement of education and religion and for the relief of poverty in the orthodox jewish community. Its policy continues to be the making of such grants.

Significant activities

There were no significant activities to report.

Public benefit

The trustees confirm their compliance with the duty to have regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives in planning future activities.

Grantmaking

Tzedokoh Vechesed Limited has within its Articles of Association the ability to make donations.

Volunteers

During the year, the charity did not have any volunteers to help with the objective of the charity.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The trustees consider that the performance of the charity this year has been satisfactory. Substantial funds have been granted to institutions during the period from contributions received from donors.

The Statement of Financial Activities shows a net surplus of £434,520 after making total grants of £703,121 and the reserves stand at £14,449,803.

Investment performance

The trustees are currently satisfied with the investment performance of the assets. The Company has not expanded its activities during the current year, but is always looking at opportunities, the current investment property portfolio is producing good results which enhances its charitable activities.

Internal and external factors

The trustees have made a full assessment of the internal and external factors that may affect these financial statements and do not deem any factors material enough to have an impact.

FINANCIAL REVIEW

Principal funding sources

Tzedokoh Vechesed Limited is fortunate to receive good rental income through its investment policy.

Overall the charity has experienced a good year and hopes it will continue to do so next year.

Investment policy and objectives

Under the memorandum and articles of association, the charity has the power to make any investment, which the trustees see fit. The trustees have considered the most appropriate policy for investing funds and have found that investment in property meets their requirements to generate both income and capital growth.

Reserves policy

The charity does not maintain a reserve policy,as reserves are distributed when they become available at the trustees' discretion. The present level of funding is adequate to support the continuation of its objects and the trustees consider the financial position of the charity to be satisfactory.

FUTURE PLANS

There are no significant future developments to report.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, the memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005. The company was formed on 27 October 2000. The charity is managed and controlled by the directors who are the trustees, who meet regularly.

Recruitment and appointment of new trustees

The trustees are appointed according to the Articles of Association.

Organisational structure

The Chief Executive of the charity is Mr M Margalit, to whom day to day management of the charity has been delegated.

The Board of Trustee, as per the governing document, can have at up tol 3 trustees serving at anyone time to administer the charity.

The entire board meets on a regular basis, at least quarterly, or more if required.

The charity is organised so that the trustees meet regularly to manage its affairs. There are no paid employees and all administration work is done on voluntary basis by the trustees.

Induction and training of new trustees

All new trustees are given, in the view of the board, sufficient training and have enough knowledge of their specific field to understand the nature of the charity and fully comply with the charities views of its progression.

New trustees undergo a briefing to ensure they are aware of both their legal and professional responsibilities under charity and company law.

Wider network

At present Tzedokoh Vechesed Limited does not consider itself part of a wider network.

Related parties

Full details of the Related Party Transactions during the year ended 31 October 2020 can be found in Note 19 of the Financial Statements.

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. 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

04099989 (England and Wales)

Registered Charity number

1084583

Registered office

5 North End Road

London

NW11 7RJ

Trustees

M Margalit

Z Zeivald

Mrs R E Zeivald

Company Secretary

Mrs R E Zeivald

Senior Statutory Auditor

Mr A Heller FCA

Auditors

Martin + Heller

Chartered Accountants

and Registered Auditor

5 North End Road

London

NW11 7RJ

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Tzedokoh Vechesed 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).

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.

In so far as the trustees are aware:

-	there is no relevant audit information of which the charitable company's auditors are unaware; and

-	the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Martin + Heller, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 30 March 2026 and signed on its behalf by:

M Margalit - Trustee

Opinion

We have audited the financial statements of Tzedokoh Vechesed Limited (the 'charitable company') for the year ended 31 October 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, 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 (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the charitable company's affairs as at 31 October 2025 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; and

-	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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 charitable company'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.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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 this gives rise to a material misstatement in the financial statements themselves. 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 Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Trustees 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 charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where 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 exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company 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 charitable company'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 charitable company or to cease operations, or have no realistic alternative but to do so.

Our 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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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 assess compliance with applicable laws and regulations that could reasonably be expected to have a

material effect on the financial statements. The key laws and regulations we have considered in this context included the

Charities SORP (FRS 102). In addition, we have 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. The extent to which our procedures are capable of detecting irregularities, including fraud is

detailed below. Based on the results of our risk assessment we designed our audit procedures to identify non-compliance

with such laws and regulations identified above.We discussed with management the extent of compliance with those laws

and regulations as part of our audit procedures. - We address the risk of fraud through management override of controls, by obtaining an understanding of internal control

and by designing audit procedures that are appropriate and sufficient. We evaluated the appropriateness of accounting

policies used and the reasonableness of accounting estimates and judgements made by management. We identified and

assessed any significant transactions that are unusual or outside the normal course of business, and we incorporated testing of

manual journal entries and corrections into our audit approach.

-Our audit procedures were designed to identify and assess risks of material misstatement in the financial

statements, whether due to fraud or error. The risk of not detecting a material misstatement due to fraud is higher

than the risk of not detecting one resulting from error, as fraud may involve collusion, forgery, omissions,

misrepresentations, or management override of controls. We communicated identified laws and regulations and potential

fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and

regulations throughout the audit. The engagement partner considers the engagement team collectively had the appropriate

competence and capabilities to identify or recognize non-compliance with laws and regulations.

-There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws

and regulations is from the events and transactions reflected in the financial statements, the less likely we would become

aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one

from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or

through collusion. Our responsibility is to conclude whether the financial statements represent the underlying financial

position and activities of the charity and to ensure that the overall content and presentation of the financial statements gives a

fair view.

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/auditors responsibilities. This description forms part of our Report of the Independent

Auditors.

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 Independent Auditors.

Use of our report

This report is made solely to the charitable company'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 charitable company's members those matters we are required to state to them in an auditors' 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr A Heller FCA (Senior Statutory Auditor)

for and on behalf of Martin + Heller

Chartered Accountants

and Registered Auditor

5 North End Road

London

NW11 7RJ

30 March 2026

31.10.25

31.10.24

Unrestricted

Total

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

90,000

-

Investment income

3

1,294,655

1,305,562

Other income

3,478

322,921

Total

1,388,133

1,628,483

EXPENDITURE ON

Raising funds

Investment management costs

4

242,965

316,098

242,965

316,098

Charitable activities

5

Charitable activities

703,121

500,274

Other

7,527

6,072

Total

953,613

822,444

Net gains on investments

-

32,749

NET INCOME

434,520

838,788

RECONCILIATION OF FUNDS

Total funds brought forward

14,015,283

13,176,495

TOTAL FUNDS CARRIED FORWARD

14,449,803

14,015,283

31.10.25

31.10.24

Unrestricted

Total

funds

Notes

£

FIXED ASSETS

Investment property

12

12,500,000

12,790,000

CURRENT ASSETS

Debtors

13

216,089

376,414

Cash at bank

2,105,777

1,269,777

2,321,866

1,646,191

CREDITORS

Amounts falling due within one year

14

(372,063

)

(420,908

)

NET CURRENT ASSETS

1,949,803

1,225,283

TOTAL ASSETS LESS CURRENT

LIABILITIES

14,449,803

14,015,283

NET ASSETS

14,449,803

14,015,283

FUNDS

15

Unrestricted funds

14,449,803

14,015,283

TOTAL FUNDS

14,449,803

14,015,283

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 30 March 2026 and were signed on its behalf by:

M Margalit - Trustee

Cash flows from operating activities

Cash generated from operations

1

517,787

767,418

Interest paid

-

7,840

Net cash provided by operating activities

517,787

775,258

Cash flows from investing activities

Sale of investment property

290,000

882,749

Interest received

28,213

24,301

Net cash provided by investing activities

318,213

907,050

Cash flows from financing activities

Loan repayments in year

-

(1,335,583

)

Net cash provided by/(used in) financing activities

-

(1,335,583

)

Change in cash and cash equivalents in

the reporting period

836,000

346,725

Cash and cash equivalents at the

beginning of the reporting period

1,269,777

923,052

Cash and cash equivalents at the end of

the reporting period

2,105,777

1,269,777

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

31.10.25

31.10.24

£

Net income for the reporting period (as per the Statement of Financial

Activities)

434,520

838,788

Adjustments for:

Losses on investments

-

(32,749

)

Interest received

(28,213

)

(24,301

)

Interest paid

-

(7,840

)

Decrease/(increase) in debtors

160,325

(27,047

)

(Decrease)/increase in creditors

(48,845

)

20,567

Net cash provided by operations

517,787

767,418

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/11/24

Cash flow

At 31/10/25

£

Net cash

Cash at bank

1,269,777

836,000

2,105,777

1,269,777

836,000

2,105,777

Total

1,269,777

836,000

2,105,777

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.

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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

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

31.10.25

31.10.24

£

Donations

90,000

-

3.	INVESTMENT INCOME

31.10.25

31.10.24

£

Rents and insurance received

1,266,442

1,281,261

Deposit account interest

14,075

1,238

Other interest receivable

14,138

23,063

1,294,655

1,305,562

4.	INVESTMENT MANAGEMENT COSTS

31.10.25

31.10.24

£

Staff costs

12,000

16,800

Insurance

96,935

110,248

Legal and Professional fees

15,705

36,041

Maintenance and other

19,131

113,342

Letting and management fees

99,194

47,507

Interest payable and similar charges

-

(7,840

)

242,965

316,098

5.	CHARITABLE ACTIVITIES COSTS

Grant

funding of

activities

(see note

6)

£

Charitable activities

703,121

6.	GRANTS PAYABLE

31.10.25

31.10.24

£

Charitable activities

703,121

500,274

Donations paid to institutions during the year amounted to £563,949.

£

Amud Hatzdokoh Trust

14,234

Beis Chinuch Lebonos Girls School

18,000

Beis Hamedrash Canvey

23,785

Bible kollel

19,960

Canvey Bright start

16,200

Canvey Kehilla Ltd-M

52,332

Friends of Yeshiva Luzern

13,106

Hatzola Canvey Ltd

35,000

Kehal Chasidim Bobov

15,160

Kerem Shlomo Trust

31,000

kupas Rashbi Ltd

10,000

LECHEMSHLOMO

20,000

Lubavitch

33,100

Mifal Cachesed Vhatzdoko

18,000

MIFAL TZEDOKO V'CHESED LIMITED

10,000

One heart

21,280

Side by Side

50,000

The Egerton Road Trust

39,480

Toiv Umeitiv

19,610

Others - less than £10,000

103,702

Total

563,949

7.	SUPPORT COSTS

Governance

costs

£

Other resources expended

7,250

8.	NET INCOME/(EXPENDITURE)

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

31.10.25

31.10.24

£

Auditors' remuneration

7,250

5,800

9.	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.

10.	STAFF COSTS

The average number of employees during the year were 2 (2023:2)

11.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

funds

£

INCOME AND ENDOWMENTS FROM

Investment income

1,305,562

Other income

322,921

Total

1,628,483

EXPENDITURE ON

Raising funds

Investment management costs

316,098

Charitable activities

500,274

Other

6,072

Total

822,444

Net gains on investments

32,749

NET INCOME

838,788

RECONCILIATION OF FUNDS

Total funds brought forward

13,176,495

TOTAL FUNDS CARRIED FORWARD

14,015,283

12.	INVESTMENT PROPERTY

£

FAIR VALUE

At 1 November 2024

12,790,000

Disposals

(290,000

)

At 31 October 2025

12,500,000

NET BOOK VALUE

At 31 October 2025

12,500,000

At 31 October 2024

12,790,000

13.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

Rent debtors

48,272

69,822

Other debtors

39,217

35,135

Noblestar Estates Limited

125,000

250,000

Sundry debtors

3,600

-

Prepayments and accrued income

-

21,457

216,089

376,414

14.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

Trade creditors

12,499

14,892

VAT

15,988

13,786

Other creditors

163,308

204,712

Rents in advance

173,018

Accrued expenses

7,250

14,500

372,063

420,908

15.	MOVEMENT IN FUNDS

Net

At

movement

At

1/11/24

in funds

31/10/25

£

Unrestricted funds

General fund

14,015,283

434,520

14,449,803

TOTAL FUNDS

14,015,283

434,520

14,449,803

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

1,388,133

(953,613

)

434,520

TOTAL FUNDS

1,388,133

(953,613

)

434,520

Comparatives for movement in funds

Net

At

movement

At

1/11/23

in funds

31/10/24

£

Unrestricted funds

General fund

13,176,495

838,788

14,015,283

TOTAL FUNDS

13,176,495

838,788

14,015,283

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

1,628,483

(822,444

)

32,749

838,788

TOTAL FUNDS

1,628,483

(822,444

)

32,749

838,788

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 funds

General fund

13,176,495

1,273,308

14,449,803

TOTAL FUNDS

13,176,495

1,273,308

14,449,803

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

3,016,616

(1,776,057

)

32,749

1,273,308

TOTAL FUNDS

3,016,616

(1,776,057

)

32,749

1,273,308

16.	RELATED PARTY DISCLOSURES

As at 31 October 2025, the charity was owed £125,000 from Noblestar Estates Limited (2024: £250,000). Interest is payable at the rate of 8% per annum. One of the trustees is a director of Noblestar Estates Limited.

During the year the Charity received donations of £90,000 from Noblestar Estates Ltd.