Gitter Foundation Ltd

	Page
Trustees' Report	1—3
Independent Auditor's Report	4—6
Statement of Financial Activities (including Income and Expenditure Account)	7
Balance Sheet	8
Statement of Cash Flows	9
Notes to the Statement of Cash Flows	10
Notes to the Financial Statements	11—15

The trustees present their report and the financial statements for the year ended 31 December 2025.

Objectives and Activities

Aims and Objectives

The charity was formed for the advancement of the education of persons expressing the orthodox Jewish faith, the advancement of the orthodox Jewish faith, and the relief of poverty in the orthodox Jewish community.

The charity is also actively involved in raising funds for general education, and relief of poverty.

Significant Activities

There were no significant activities to report.

Public Benefit

The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's guidance on public benefit.

Grant making

Gitter Foundation Ltd has within its Articles of Association the ability to make donations.

Achievements and Performance

Main Achievements

Charitable activities

The trustees consider that the performance of the charity this year has been very good. The Statement of Financial Activities shows a surplus of £522,475 and the reserves stand at £4,756,928.

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.

During the year, the charity's incoming resources exceeded the outgoing resources. The trustees are satisfied with the results for the year. The trustees do not seek to maintain reserves other than to ensure that they can continue the activities of the charity.

Financial Review

Financial Position

Principal funding sources

Gitter Foundation Ltd is pleased and fortunate to receive donations from a number of people and organisations.

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

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.

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Gitter Foundation Ltd

Trustees' Report (continued)

For The Year Ended 31 December 2025

Risk management

Trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks. 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

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 22 May 2008. The charity is managed and controlled by the directors who are the trustees, who meet regularly.

Trustee Selection Methods

The trustees are appointed according to the Articles of Association.

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.

Organisational structure

The Chief Executive of the charity is Mr N J Halpern, to whom day to day management of the charity has been delegated.

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

Reference and Administrative Details

Trustees

Mr Steven Hus

Mr Daniel Ost

Mr Nathan Halpern

Mr Alexander Freshwater

Charity Number

1129108

Company Number

06600663

Accountants

Brindley Goldstein Limited

103 High Street

Waltham Cross

EN8 7AN

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Gitter Foundation Ltd

Trustees' Report (continued)

For The Year Ended 31 December 2025

Statement of Trustees' Responsibilities

The trustees (who are also the directors of Gitter Foundation Ltd 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 trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statement 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 the financial statements the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed; subject to any departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at anytime the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

Each of the persons who are trustees at the time when this trustees' report is approved has confirmed that:

so far as the trustee is aware, there is no relevant audit information of which the charitable company's auditors are unaware; and
they have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the charitable company's auditors are aware of that information.

The trustees' report was approved by the board of trustees and signed on its behalf by:

Mr Steven Hus

Trustee

28th October 2026

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Independent Auditor's Report

to the Members of

Gitter Foundation Ltd

Independent Auditor's Report

Opinion

We have audited the financial statements of Gitter Foundation Ltd (the "charity") for the year ended 31 December 2025 which comprise the Statement of Financial Activities (including Income and Expenditure Account), Balance Sheet, Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the charitable company's affairs as at 31 December 2025 and of its incoming resources and application of resources, 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 Auditor's 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 12 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 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 contained within the annual report. 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 Trustees' Report, which includes the Director's Report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Director's Report included within the Trustees' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Gitter Foundation Ltd

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 Director's Report included within 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 or 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.

Responsibilities of Trustees

As explained more fully in the Trustees' Responsibilities Statement set out on page 1—3, the trustees (who are also 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 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.

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

Identifying and testing journal entries and the overall accounting records, particularly those that were significant and unusual.

Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.

Assessing the extent of compliance, or lack of, with relevant laws and regulations.

Testing key revenue lines, for evidence of management bias.

Verification of key assets.

Obtaining third-party confirmation of material balances.

Documenting and verifying all significant related party balances and transactions.

Reviewing documentation such as the company board minutes, correspondence with solicitors, for discussions of irregularities including fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 that 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 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.

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Independent Auditor's Report (continued)

to the Members of

Gitter Foundation Ltd

CHARLES GOLDSTEIN FCA (Senior Statutory Auditor)

for and on behalf of Brindley Goldstein Limited , Statutory Auditor

28th October 2026

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Gitter Foundation Ltd

Statement of Financial Activities (including Income and Expenditure Account)

For The Year Ended 31 December 2025

Statement of Financial Activities (including Income and Expenditure Account)

		2025	2024
		Unrestricted funds	Unrestricted funds
	Notes	£	£
INCOME AND ENDOWMENTS FROM:
Donations and legacies	4	492,453	145,000
Charitable activities:
Rental income		342,167	315,250

		834,620	460,250

EXPENDITURE ON:
Raising funds	5	(312,145 )	(446,447 )
Charitable activities:	5

NET INCOME		522,475	13,803

Gains on revaluation of fixed assets		80,183	-

NET MOVEMENT IN FUNDS		602,658	13,803
RECONCILIATION OF FUNDS:
Total funds brought forward		4,154,270	4,140,467

TOTAL FUNDS CARRIED FORWARD	15	4,756,928	4,154,270

The notes on pages 10 to 15 form part of these financial statements.

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Gitter Foundation Ltd

Balance Sheet

As At 31 December 2025

Balance Sheet

		2025	2024
		Unrestricted funds	Total funds
	Notes	£	£
FIXED ASSETS
Investment Properties	10	8,100,000	8,019,817

		8,100,000	8,019,817
CURRENT ASSETS
Debtors	11	1,809	1,809
Cash at bank and in hand		8,929	3,253

		10,738	5,062
Creditors: Amounts Falling Due Within One Year	12	(1,183,336 )	(920,550 )

NET CURRENT ASSETS (LIABILITIES)		(1,172,598 )	(915,488 )

TOTAL ASSETS LESS CURRENT LIABILITIES		6,927,402	7,104,329

Creditors: Amounts Falling Due After More Than One Year	13	(2,170,474 )	(2,950,059 )

NET ASSETS		4,756,928	4,154,270

FUNDS OF THE CHARITY
Unrestricted Funds		4,756,928	4,154,270

TOTAL FUNDS	15	4,756,928	4,154,270

On behalf of the board

Mr Steven Hus

Trustee

28th October 2026

The notes on pages 10 to 15 form part of these financial statements.

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Gitter Foundation Ltd

Statement of Cash Flows

For The Year Ended 31 December 2025

Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	552,638	807,973
Interest paid		(270,164 )	(265,522 )
Further item of operating activities 1		-	(3,879,350)

Net cash generated from/(used in) operating activities		282,474	(3,336,899 )

Cash flows from financing activities
Proceeds from new bank borrowings		-	3,340,152
Repayment of bank borrowings		(276,798 )	-

Net cash (used in)/generated from financing activities		(276,798 )	3,340,152



Increase in cash and cash equivalents		5,676	3,253
Cash and cash equivalents at beginning of year	2	3,253	-

Cash and cash equivalents at end of year	2	8,929	3,253

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Gitter Foundation Ltd

Notes to the Statement of Cash Flows

For The Year Ended 31 December 2025

Notes to the Statement of Cash Flows

1. Reconciliation of income to cash generated from operations

	2025	2024
	£	£
Net income	522,475	13,803
Adjustments for:
Interest expense	270,164	265,522
Movements in working capital:
Increase in trade and other debtors	-	(1,809 )
(Decrease)/increase in trade and other creditors	(240,001 )	530,457

Net cash generated from operations	552,638	807,973

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	8,929	3,253

3. Analysis of changes in net debt

	As at 1 January 2025	Cash flows	As at 31 December 2025
	£	£	£
Cash at bank and in hand	3,253	5,676	8,929
Debts falling due within one year	(390,093 )	(502,787)	(892,880 )
Debts falling due after more than one year	(2,950,059)	779,585	(2,170,474)

	(3,336,899)	282,474	(3,054,425)

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Gitter Foundation Ltd

Notes to the Financial Statements

For The Year Ended 31 December 2025

Notes to the Financial Statements

1. General Information

Gitter Foundation Ltd is a company limited by guarantee, incorporated in England & Wales, registered number 06600663 and registered charity number 1129108 . The registered office is 5 North End Road, London, NW11 7RJ.

2. Statement of Compliance

The financial statements 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.

3. Accounting Policies

3.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention.

The charitable company is a Public Benefit Entity as defined by FRS 102.

3.2. Going Concern Disclosure

The trustees have not identified any material uncertainties related to events or conditions that may cast significant doubt about the charitable company's ability to continue as a going concern.

3.3. Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose.

Restricted funds are to be used for specific purposes as laid down by the donor.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

3.4. Incoming Resources

All incoming resources are 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.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

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Gitter Foundation Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

3.5. 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 raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• 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.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

3.6. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the statement of financial activities.

3.7. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

4. Income from Donations and Legacies

	2025	2024
	Unrestricted	Unrestricted
	funds	funds
	£	£
Donations and gifts	492,453	80,000
Grants	-	65,000

	492,453	145,000

5. Analysis of Expenditure

			2025
	Grant funding of activities (see note 6 )	Support costs (see note 7 )	Total
	£	£	£
Raising funds	12,000	300,145	312,145

	2024
	Support costs (see note 7 )
	£
Raising funds	446,447

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Gitter Foundation Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Grants Payable

			2025
	Grants to
	Institutions	Support costs	Total
	£	£	£
Raising funds	12,000	12,000	24,000

			2024
	Grants to
	Institutions	Support costs	Total
	£	£	£
Raising funds	-	-	-

7. Support Costs

	2025	2024
	Raising funds	Raising funds
	£	£
Premises expenses	11,100	39,100
General administration	11,681	134,625
Interest payable	270,164	265,522
Governance costs	7,200	7,200

	300,145	446,447

8. Auditor's Remuneration

Remuneration received by the charitable company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	7,200	7,200

9. Average Number of Employees

Average number of employees during the year was: NIL (2024: NIL)

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Gitter Foundation Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

10. Investment Property

	2025
	£
Fair Value
As at 1 January 2025	8,019,817
Revaluations	80,183

As at 31 December 2025	8,100,000

The charity's fixed asset investment is situated in the United Kingdom.

The investment property was valued at 31 December 2025 by Roundtree Real Estate an independent registered valuer. The valuation was on an open market value basis, by reference to recent market evidence of transactions for similar properties. If the property was sold at the revalued amount a corporation tax liability of £20,045 would arise based on a corporation tax charge of 25%.

11. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	1,809	1,809

12. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	1	2
Bank loans and overdrafts	892,880	390,093
Other creditors	283,255	523,255
Accruals	7,200	7,200

	1,183,336	920,550

13. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	2,170,474	2,950,059

14. Loans

An analysis of the maturity of loans is given below:

	2025	2024
	£	£
Amounts falling due within one year or on demand:
Bank loans	892,880	390,093

	2025	2024
	£	£
Amounts falling due between one and five years:
Bank loans	2,170,474	2,950,059

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Gitter Foundation Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

15. Movement in Funds

	As at 1 January 2025	Income	Expenditure	Gains and losses	As at 31 December 2025
	£	£	£	£	£
Unrestricted funds
General:
General unrestricted fund	4,154,270	834,620	(312,145 )	80,183	4,756,928


Total funds	4,154,270	834,620	(312,145 )	80,183	4,756,928

	As at 1 January 2024	Income	Expenditure	As at 31 December 2024
	£	£	£	£
Unrestricted funds
General:
General unrestricted fund	4,140,467	460,250	(446,447 )	4,154,270


Total funds	4,140,467	460,250	(446,447 )	4,154,270

16. Transactions with Trustees

During the year the expenses reimbursed to the trustees or paid directly to third parties were as follows:

	2025	2024
	£	£

17. Related Party Disclosures

18. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

19. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

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