REGISTERED COMPANY NUMBER: 06303541 (England and Wales)

REGISTERED CHARITY NUMBER: 1121469

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

HASDEI AVOT CHARITABLE TRUST

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

Statement of Cash Flows

8

Notes to the Statement of Cash Flows

9

Notes to the Financial Statements

10

to

16

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 December 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 is constituted as a company limited by guarantee, and is therefore governed by a Memorandum and Articles of Association. The Charity is registered with the Charity Commission.

The Charity's object and its principal activities must be:

To provide grants and donations for individuals or such charitable associations, bodies and organizations, for the purpose of advancing education, relieving poverty, sickness and the needs of the elderly and disabled, as the trustees in their absolute discretion must think fit.

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, must more than adequately, satisfy the public benefit requirement.

The trustees must continue to operate within the confines of the charity objectives namely in the respect of the providing grants and donations to individuals or such charitable organizations for the advancement of education, relief of poverty, sickness and the need of the elderly and disabled.

The charity must provide grants to a broad section of the community and grant applications must be vetted carefully. Where the grants are given, the trustees must follow it through to ensure that the grants are used for the purposes for which they are needed.

The trustees are of the opinion that the following through of these grants ensure that the aims and objects of the charity is met.

ACHIEVEMENTS AND PERFORMANCE

The Trustees consider the performance of the Charity during the period to be satisfactory,

FINANCIAL REVIEW

Financial position

The Statement of Financial Activities shows a net surplus for the year of £218,626 (2024: £443,740).The reserves fund as at 31st December 2025 was £1,821,854 ( 2024: £1,603,228).

Included in the above reserve figure is an unrealised gain of £338,669 ( 2024: £498,099) on equity investments.

`

The charity's reserves policy is to maintain sufficient reserves to enable the charity to continue its activities and services at a meaningful level, should there be a drop in income. As all income is derived from voluntary donations, the trustees review this position on a regular basis.

In view of this the trustees aim to maintain a level of reserves sufficient to meet three months basic

operating costs.

Having regard to the above the Trustees are of the opinion that the cash reserves held as at the year end would be sufficient to meet three months basic operating costs and, they intend to increase the reserves held in the forthcoming year.

The cash reserves stood at £56,465 as at 31st December 2025 (2024: £23,889).

Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

The trustees have prepared cash flow forecasts and profit projections which demonstrate the charity can continue as a going concern.

FUTURE PLANS

We are confident that our supporters will provide us with contributions at a level to support the objects of the charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

All Directors of the company are also Trustees of the charity. All of the Trustees named on page 1 served throughout the year. The Board has the power to appoint additional Trustees as it considers fit to do so.

Organisational structure

The Charity is organized so that the Directors and Trustees must meet regularly to manage its affairs.

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, must 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

06303541 (England and Wales)

Registered Charity number

1121469

Registered office

923 Finchley Road

Golders Green

London

NW11 7PE

Trustees

M G Abadi Director and Trustee

D P Lyons Director and Trustee

F Resnik De Abadi Director and Trustee

Company Secretary

Mrs F Resnik De Abadi

Independent Examiner

Akiva Kahan FCA

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 10 October 2026 and signed on its behalf by:

M G Abadi - Trustee

Independent examiner's report to the trustees of Hasdei Avot Charitable Trust ('the Company')

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

The Institute of Chartered Accountants in England and Wales

JKA Accountancy Limited

Marlborough House

298 Regents Park Road

London

N3 2SZ

Date: ........October 2026

2025

2024

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

315,049

372,000

Investment income

3

4,145

6,650

Total

319,194

378,650

EXPENDITURE ON

Charitable activities

4

Net Foreign exchange loss/gain

45,280

31,476

Finance costs

188

294

Accountancy, professional and legal fees

3,686

4,047

Grants

390,083

397,192

Total

439,237

433,009

Net gains on investments

338,669

498,099

NET INCOME

218,626

443,740

RECONCILIATION OF FUNDS

Total funds brought forward

1,603,228

1,159,488

TOTAL FUNDS CARRIED FORWARD

1,821,854

1,603,228

2025

2024

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Investments

9

1,771,099

1,563,357

CURRENT ASSETS

Debtors

10

-

19,950

Cash at bank

56,465

23,889

56,465

43,839

CREDITORS

Amounts falling due within one year

11

(5,710

)

(3,968

)

NET CURRENT ASSETS

50,755

39,871

TOTAL ASSETS LESS CURRENT LIABILITIES

1,821,854

1,603,228

NET ASSETS

1,821,854

1,603,228

FUNDS

12

Unrestricted funds

1,821,854

1,603,228

TOTAL FUNDS

1,821,854

1,603,228

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 10 October 2026 and were signed on its behalf by:

M G Abadi - Trustee

Cash flows from operating activities

Cash generated from operations

1

(102,496

)

(535,816

)

Net cash used in operating activities

(102,496

)

(535,816

)

Cash flows from investing activities

Sale of fixed asset investments

130,927

542,554

Interest received

233

635

Dividends received

3,912

6,015

Net cash provided by investing activities

135,072

549,204

Change in cash and cash equivalents in the reporting period

32,576

13,388

Cash and cash equivalents at the beginning of the reporting period

23,889

10,501

Cash and cash equivalents at the end of the reporting period

56,465

23,889

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

2025

2024

£

£

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

218,626

443,740

Adjustments for:

Gain on investments

(338,669

)

(498,099

)

Interest received

(233

)

(635

)

Dividends received

(3,912

)

(6,015

)

-

(473,065

)

Decrease in debtors

19,950

-

Increase/(decrease) in creditors

1,742

(1,742

)

Net cash used in operations

(102,496

)

(535,816

)

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank

23,889

32,576

56,465

23,889

32,576

56,465

Total

23,889

32,576

56,465

1.	LEGAL STATUS OF THE CHARITY

The Charity is established by a declaration of Trust dated 5th July 2007, as amended by special resolution dated 10th October 2007, a certificate of incorporation on change of name of 19th December 2007, was amended on 5th December 2017.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income must be 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 must be 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 must 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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.	INVESTMENT INCOME

2025

2024

£

£

Other fixed asset invest - FII

3,912

6,015

Interest Receivable

233

635

4,145

6,650

4.	CHARITABLE ACTIVITIES COSTS

Grant

funding of

activities

Support

(see note

costs (see

5)

note 6)

Totals

£

£

£

Net Foreign exchange loss/gain

-

45,280

45,280

Finance costs

-

188

188

Accountancy, professional and legal fees

-

3,686

3,686

Grants

390,083

-

390,083

390,083

49,154

439,237

5.	GRANTS PAYABLE

2025

2024

£

£

Grants

390,083

397,192

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

2025

2024

£

£

Grants to institutions

389,983

395,322

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

2025

2024

£

£

Grants to Individuals

100

1,870

6.	SUPPORT COSTS

Governance

Finance

costs

Totals

£

£

£

Net Foreign exchange loss/gain

45,280

-

45,280

Finance costs

188

-

188

Accountancy, professional and legal fees

-

3,686

3,686

45,468

3,686

49,154

7.	TRUSTEES' REMUNERATION AND BENEFITS

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

Trustees' expenses

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

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

372,000

Investment income

6,650

Total

378,650

EXPENDITURE ON

Charitable activities

Net Foreign exchange loss/gain

31,476

Finance costs

294

Accountancy, professional and legal fees

4,047

Grants

397,192

Total

433,009

Net gains on investments

498,099

NET INCOME

443,740

RECONCILIATION OF FUNDS

Total funds brought forward

1,159,488

TOTAL FUNDS CARRIED FORWARD

1,603,228

9.	FIXED ASSET INVESTMENTS

Listed

investments

£

MARKET VALUE

At 1 January 2025

1,563,357

Disposals

(90,199

)

Unrealized gain /(loss)

297,941

At 31 December 2025

1,771,099

NET BOOK VALUE

At 31 December 2025

1,771,099

At 31 December 2024

1,563,357

The fixed asset investment are listed Ordinary Securities . The market value of the investment as at

31/12/25 was £1,771,099 ( 2024 : £1,563,357).

10.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

-

19,950

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other creditors

2,050

308

Accruals and deferred income

3,660

3,660

5,710

3,968

12.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.25

in funds

31.12.25

£

£

£

Unrestricted funds

General fund

1,603,228

218,626

1,821,854

TOTAL FUNDS

1,603,228

218,626

1,821,854

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

319,194

(439,237

)

338,669

218,626

TOTAL FUNDS

319,194

(439,237

)

338,669

218,626

Comparatives for movement in funds

Net

movement

At

At 1.1.24

in funds

31.12.24

£

£

£

Unrestricted fund

1,159,488

443,740

1,603,228

TOTAL FUNDS

1,159,488

443,740

1,603,228

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

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted fund

378,650

(433,009

)

498,099

443,740

TOTAL FUNDS

378,650

(433,009

)

498,099

443,740

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

Net

movement

At

At 1.1.24

in funds

31.12.25

£

£

£

Unrestricted fund

1,159,488

662,366

1,821,854

TOTAL FUNDS

1,159,488

662,366

1,821,854

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

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted fund

697,844

(872,246

)

836,768

662,366

TOTAL FUNDS

697,844

(872,246

)

836,768

662,366

13.	RELATED PARTY DISCLOSURES

Other creditors totalling £2,050 (2024 : £308 ) is a loan given by Mr. M G Abadi a director and trustee of Hasdei Avot Charitable Trust.