The trustees present their annual report and financial statements for the year ended 31 January 2026.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
The objectives of the charity are to support the activities of religious Jewish organisations both in the UK and abroad especially those that promote Orthodox Jewish religion, education, relief of poverty and other welfare activities.
The trustees have confirmed that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities and setting the grant making policy for the year.
Grants are made to charitable institutions and organisations which accord with the objects of the charity. The trustees consider all requests which they receive and make donations based on the level of funds available.
In making grants and donations, the Trustees use their personal knowledge of the institution, its representatives, operational efficiency and reputation. The Trustees monitor the application of the grants and donations by meeting with representatives of the institutions and obtain information as to the utilisation of funds.
During the year the charity has continued its philanthropic activities and has maintained its support of religious, educational and other charitable institutions in Great Britain.
During the year, the charity distributed grants of £1,150,000 (2025: £370,000).
The financial results of the charity and its subsidiary undertakings for the year ended 31 January 2026 are fully reflected in the attached Financial Statements together with the Notes thereon.
Under the Memorandum and Articles of Association, the charity has the power to make any investment which the Trustees see fit.
The Trustees continue to assess the charity's investment portfolio and seek new investment opportunities to ensure that the charity's asset base is maintained and suitable surpluses are generated.
The Trustees are satisfied with the return on investments achieved during the year and are confident that the charity has adequate reserves to fulfil its charitable obligations.
The charity received £688,018 (2025: £688,018) in donations and investment income during the year, and £1,376,941 (2025: £843,862) was paid out by way of grants and support costs.
The financial position of the charity is satisfactory. The charity's statement of financial activities shows total funds of £2,874,110, of which £610,725 are free reserves.
The Trustees have made appropriate enquiries and have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the twelve months from the date that the accounts are signed. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level which will not impinge on its ability to support Charitable Institutions.
The Charitable Company holds long term investments to allow it to generate sufficient income on an ongoing basis. The reserves are represented by unrestricted funds arising from past operating results. The Trustees are satisfied that the present balance of distributable reserves is sufficient to support anticipated expenditure and will be reviewed periodically by the trustees of the charity.
The charity is a company limited by guarantee incorporated on 18 February 2011 and is governed by its Memorandum and Articles of Association adopted by special resolution on the 11 January 2023 and as amended by special resolution on the 19 May 2026.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. The key management personnel are the trustees. The charity also receives support from third parties, none of whom have management duties.
Where needed, the board will seek to appoint new trustees. New trustees are selected based on the suitability of their skills, knowledge and experience to the operations of the charity. They are appointed in accordance with the articles and association. The charity has a welcome pack for the induction of new trustees, and further training is provided where appropriate.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of The Knightland Foundation (the charity) for the year ended 31 January 2026.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, 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 that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements 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 financial statements 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 financial statements to be reached.
J Silver FCCA
Precision Ltd
32 Castlewood Road
N16 6DW
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The Knightland Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 1 Guard House, Grosvenor Way, London, E5 9XE, England.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Investments in subsidiaries are valued at cost less provision for impairment.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans 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. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Judgements made by the directors in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are as follows:
Property valuation
The valuation of the charity's investment property is inherently subjective, depending on many factors including the nature of the property, its location and expected future net rental values. Therefore the valuation is subject to a degree of uncertainty and is made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.
Trade and other debtors
Management uses available evidence of the credit status of the counterparty in making judgements concerning any need to impair the carrying value of any amounts due to the charitable company.
During the year the charity paid professional fees of £30,000 to a company where one of the trustees is the sole shareholder.
Other than the above mentioned transaction none of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
The average monthly number of employees during the year was:
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
All investments shown above are held at valuation.
The above valuations are based on a valuation of the charity’s commercial property portfolio carried out on the 24 August 2022 by Lambert Smith Hampton Chartered Surveyors, who are not connected with the charity and adjusted for post year end sales values. The trustees are of the opinion that there has been no material change between the date of the valuation and the 31 January 2026.
The historical cost of the properties at 31 January 2026 is £890,896 (2025: £7,275,766)
Amounts due from related companies represents amounts of £519,394 (2025: £510,130) due from Bellview Management Ltd.
The loans are interest free (with the exception of £154,400 from Bellview Management Ltd which bears interest at 6% p.a.), the loans are all repayable on demand.
The loan due in more than one year bears interest at 8% per annum.
In the opinion of the Trustees the amounts are fully recoverable.
The long-term loans are secured by fixed charges over the company's investment properties.
The rates payable on the loans are fixed partly at 3.94% and partly at 3.1% until expiry in July 2025.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
Property management services for the value of £32,411 (2025 - £63,638) were provided by Bellview Management (UK) Limited, a company under the control of a former trustee of the charity.
Other than the above and those disclosed in notes 10 & 16 there were no disclosable related party transactions during the year.
Details of the charity's subsidiaries at 31 January 2026 are as follows:
The investments in subsidiaries are all stated at cost.
Consolidated financial statements have not been prepared as the charity has taken advantage of the exemptions conferred by Section 398 Companies Act 2006.