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← The Lucy And Henry Cohen Charitable Trust

2025-04-05-accounts

THE LUCY AND HENRY COHEN CHARITABLE TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2024

The Trustees present their annual report together with the financial statements of the Charity for the 6 April 2024 to 5 April 2025 ~~.~~

Objectives and activities

a ~~.~~ Policies and objectives

The objectives of the charity as per its governing document are:

~~-~~ To promote all or any purposes which are charitable according to English law.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)’.

b. Strategies for achieving objectives

The strategy of the charity is to accumulate income from its investments, so as to ultimately donate those investments to institutions of a charitable nature ~~.~~

c. Activities undertaken to achieve objectives

The main activity of the charity is the distribution of grants to charitable organisations.

d ~~.~~ Main activities undertaken to further the Charity's purposes for the public benefit

The main activity of the charity is to donate its income to institutions of a charitable nature, who then themselves engage in activities which contribute directly to the public benefit ~~.~~

Achievements and performance

a ~~.~~ Main achievements of the Charity

During the year the Charity made grants totaling £5,210 (2024: £6,020) to 1 (2024: 3) worthy organisation.

Financial review

a ~~.~~ 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 ~~.~~ Further details regarding the adoption of the going concern basis can be found in the accounting policies ~~.~~

b ~~.~~ Reserves policy

The Trustees do not set a formal reserves policy, however it is the view of the trustees that the funds held in investments would cover any shortfall if ever required.

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THE LUCY AND HENRY COHEN CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

c ~~.~~ Review of the Year

Income for the year totaled £25,016 (2024: £17,542) being income from donations (£6,000) and income from investments (£19,106). Expenditure was £7,991 (2024: £6,617), consisting of £1,058 (2024: £552) of investment management fees, £5,210 (2024: £4,700) of grants given out and £1,723 (2024: £1,365) of support costs. There wasa loss on investments of £15,361 (2024: gain of £22,055) ~~.~~ Funds carried forward at the year end totaled £405,065 (2024: £403,671) ~~.~~ All Income, expenditure, Gains/losses and funds are unrestricted during both years ~~.~~

Structure, governance and management

a ~~.~~ Constitution

The Lucy and Henry Cohen Charitable Trust is a registered charity, number 1002693, and is constituted under a Trust deed.

b ~~.~~ Methods of appointment or election of Trustees

New Trustees are appointed by selection by the current Trustees of the charity by a simple majority vote ~~.~~ New Trustees are selected to add their expertise or knowledge to the board of Trustees ~~.~~

Statement of Trustees’ responsibilities

The Trustees 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).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed ~~.~~ They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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THE LUCY AND HENRY COHEN CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2025

Independent Examiner's Report to the Trustees of The Lucy and Henry Cohen Charitable Trust (‘the Charity’)

| report to the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2025.

Responsibilities and Basis of Report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).

| report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act ~~.~~

Independent Examiner's Statement

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

| 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 ~~.~~

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008 ~~.~~ My work has been undertaken so that | might state to the Charity's Trustees those matters | am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report ~~.~~

Edward Passmore

Signed:

Edward Passmore

Dated: 01 1/07/2025 FCA

35 Ballards Lane London N3 1XW

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THE LUCY AND HENRY COHEN CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025

Unrestricted Unrestricted Total Total Total
funds
funds		 funds
2025
2025		 2024
Note £
£		 £
Income from:
Donations and legacies 3 6,000 6,000 -
Investments
Total income
Expenditure on:		 4 19,016
25,016		 19,016
25,016		 17,542
17,542
Raising funds 5 1,058 1,058 552
Charitable activities
7
Total expenditure
Net income before net (losses)/gains on		 6,933
7,991		 6,933
7,991		 6,065
6,617
investments 17,025 17,025 10,925
Net (losses)/gains on investments (15,631)
(15,631)		 22,055
Net movement in funds 1,394 1,394 32,980
Reconciliation of funds:
Total funds brought forward 403,671 403,671 370,691
Net movement in funds 1,394 1,394 32,980
Totalfunds carried forward 405,065 405,065 403,671

The Statement of Financial Activities includes all gains and losses recognised in the year ~~.~~

The notes on pages 8 to 17 form part of these financial statements ~~.~~

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THE LUCY AND HENRY COHEN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

1 ~~.~~ General information

The Lucy and Henry Cohen Charitable Trust is a Unincorporated Trust established on 28th March 1991 by Trust deed ~~.~~

2 ~~.~~ Accounting policies

2 ~~.~~ 1 Basis of preparation of financial statements

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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011 ~~.~~

The Lucy and Henry Cohen Charitable Trust meets the definition of a public benefit entity under FRS 102 ~~.~~ Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy ~~.~~

2.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable ~~.~~

2 ~~.~~ 3 Expenditure

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 allocated on the portion of the asset’s use ~~.~~

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non ~~-c~~ haritable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT ~~.~~

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THE LUCY AND HENRY COHEN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

2 ~~.~~ Accounting policies (continued)

2.4 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities ~~.~~

2 ~~.~~ 5 Cash at bank and in hand

Cash at bank and in hand includes cash and short ~~-~~ term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2 ~~.~~ 6 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably ~~.~~

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation ~~.~~ Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre ~~-~~ tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost ~~.~~

2 ~~.~~ 7 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method ~~.~~

2 ~~.~~ 8 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Investment income, gains and losses are allocated to the appropriate fund ~~.~~

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THE LUCY AND HENRY COHEN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

14 ~~.~~ Summary of funds

Summary of funds ~~-~~ current year

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Balance|at|6|Gains/|Balance|at|5| |April|2024|Income|Expenditure|(Losses)|April|2025| |£|£|£|£|£| |General|funds|403,671|25,016|(7,991)|(15,631)|405,065| |Summary|of funds|-|prior year| |Balance|at|Gains/|_—|Balance|at| |1|April 2023|Income|Expenditure|(Losses)|5|April 2024| |£|£|£|£|£| |General|funds|370,691|17,542|(6,617)|22,055|403,671|

----- End of picture text -----

15. Analysis of net assets between funds

Analysis of net assets between funds ~~-~~ current year

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Unrestricted|Total| |funds|funds| |2025|2025| |£|£| |Fixed|asset|investments|404,881|404,881| |Current|assets|1,384|1,384| |Creditors|due|within|one|year|(1,200)|(1,200)| |Total|405,065|405,065| |Analysis|of|net|assets|between|funds|-|prior|year| |Unrestricted|Total| |funds|funds| |2024|2024| |£|£| |Fixed|asset|investments|404,055|404,055| |Current|assets|1,280|1,280| |Creditors|due|within|one|year|(1,664)|(1,664)| |Total|403,671|403,671|

----- End of picture text -----

Analysis of net assets between funds ~~-~~ prior year

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