**REGISTERED CHARITY NUMBER: 1047611**
**Report of the Trustees and Unaudited Financial Statements for the Year Ended 5 April 2025**
**for**
## **MICHAEL AND LESLEY BENNETT CHARITABLE TRUST**
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London
N3 1DH
**MICHAEL AND LESLEY BENNETT CHARITABLE TRUST**
**Contents of the Financial Statements FOR THE YEAR ENDED 5 APRIL 2025**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 2|
|**Independent Examiner's Report**|3|
|**Statement of Financial Activities**|4|
|**Balance Sheet**|5|
|**Notes to the Financial Statements**|6 to 8|
**MICHAEL AND LESLEY BENNETT CHARITABLE TRUST**
## **Report of the Trustees FOR THE YEAR ENDED 5 APRIL 2025**
The trustees present their report with the financial statements of the charity for the year ended 5 April 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 Trust was created to provide grants for charitable purposes worldwide. The trustees have full discretion to distribute all or part of the income or capital of the Trust to any organisation, body, or cause that is legally recognised as exclusively charitable under English law.
## **Public benefit**
The trustees ensure that all income and capital are applied to charitable causes that deliver public benefit. Each year they review the Trust’s objectives to confirm they remain aligned with its aims, taking into account the Charity Commission’s general guidance on public benefit.
## **Grantmaking**
The trustees review all grant applications at their meetings. Their general policy is to distribute the Trust’s income each year as it is received, and, when appropriate, to make distributions from capital as well.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
During the year, the trustees awarded donations totalling £71,155, compared with £27,625 in the previous year (2024). This reflects the Trust’s ongoing commitment to supporting a wide range of charitable causes.
## **FINANCIAL REVIEW**
## **Financial position**
The Trust recorded a net deficit of £29,192 for the year, compared with a surplus of £28,481 in 2024. At the balance sheet date, total unrestricted funds stood at £304,463 (2024: £333,655). Investment performance contributed to this outcome, with realised and unrealised losses of £4,704, compared with gains of £17,149 in the prior year.
## **Investment policy and objectives**
The trustees have broad investment powers and have appointed London & Capital Plc to manage the Trust’s portfolio on a discretionary basis. While investments provide an important source of income, the majority of funds in the year were generated through donations. The managers’ objective is to maximise total return while balancing risk, and the trustees meet with them regularly to review both income requirements and the capital base.
## **Reserves policy**
The Charity’s governing document gives the trustees authority to invest any funds not immediately needed to support its charitable objectives. These investments may be made at the trustees’ discretion, without restriction.
As the Charity does not employ staff or maintain significant fixed overheads, the trustees have concluded that a formal reserves policy is unnecessary.
Having made appropriate enquiries, the trustees are confident that the Charity has sufficient resources to continue operating for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis, in line with the stated accounting policies.
## **FUTURE PLANS**
The trustees plan to continue their policy of awarding grants to charitable purposes that fall within the Charity’s stated objectives.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Page 1
**MICHAEL AND LESLEY BENNETT CHARITABLE TRUST**
## **Report of the Trustees FOR THE YEAR ENDED 5 APRIL 2025**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Recruitment and appointment of new trustees**
Under the terms of the Deed, the Settlor, Michael Bennett, holds the power to appoint new trustees during his lifetime. After that, the authority to appoint trustees passes to the existing board. New trustees are appointed through a Deed signed and approved by the current trustees. When a new trustee joins, the existing trustees provide an induction to ensure they understand their responsibilities, the governing document, the Charity’s administrative procedures, and its history and philosophy.
## **Organisational structure**
The trustees set the Charity’s overall strategy and policies and make all major decisions. Since the Charity has no employees, its administrators oversee day-to-day operations.
The trustees also maintain procedures to manage conflicts of interest. If a conflict arises, the trustee involved withdraws from both discussion and decision-making.
## **Risk management**
Each year, the trustees assess the main risks facing the Charity and maintain systems to monitor and manage them, helping to reduce their potential impact.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1047611
## **Principal address**
Bedegars Lea Kenwood Close London NW3 7JL
## **Trustees**
Mr M Bennett Mrs L V Bennett Mrs J P Gistyn (appointed 29.7.24) Mr J E Bennett (appointed 29.7.24)
## **Independent Examiner**
Danny Fine, FCA Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Approved by order of the board of trustees on 5 September 2025 and signed on its behal Approved by order of the board-of trustees on 5 Sepbember 2025 and signed an its behalf by:
> Mr M Bennett - Trustee Mr M Bennett - Tihetée
Page 2
## Independent Examiner's Report to the Trustees of MICHAEL AND LESLEY BENNETT CHARITABLE TRUST
## Independent examiner's report to the trustees of Michael and Les!ey Bennett Charitable Trust
T report to the charity trustees on my examination of the accounts of Michael and Lesley Bennett Charitable Trust (the Trust) for the year ended 5 April 2025.
## Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
T report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act,
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:
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## Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
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iL
Danny Fine, FCA
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Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
5 September 2025
Page 3
**MICHAEL AND LESLEY BENNETT CHARITABLE TRUST**
## **Statement of Financial Activities**
## **FOR THE YEAR ENDED 5 APRIL 2025**
|2025
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
46,436
Investment income
2
3,452
**Total**
49,888
**EXPENDITURE ON**
Raising funds
3
461
**Charitable activities**
Advancement of the arts, culture and humanities
1,000
Community development
54,655
Advancement of health
9,350
Advancement of education
4,050
Advancement of religion
2,100
Other charitable activities
2,760
**Total**
74,376
Net gains/(losses) on investments
(4,704)
**NET INCOME/(EXPENDITURE)**
(29,192)
**RECONCILIATION OF FUNDS**
Total funds brought forward
333,655
**TOTAL FUNDS CARRIED FORWARD**
304,463|2024
Total
funds
£
42,488
1,115
43,603
1,502
1,000
11,350
10,625
3,200
1,450
3,144
32,271
17,149
28,481
305,174
333,655|
|---|---|
The notes form part of these financial statements
Page 4
**MICHAEL AND LESLEY BENNETT CHARITABLE TRUST**
## **Balance Sheet 5 APRIL 2025**
|||||2025
2025|2024
2024|
|---|---|---|---|---|---|
|||||Unrestricted
fund
Unrestricted
fund|Total
funds
Tatal
funds|
||Notes
Mees|||£
E|£
£|
|**FIXED ASSETS**
FIXED ASSETS||||||
|Investments
Investments.||7|7
ri|286,822
286,822|288,075
288,075|
|**CURRENT ASSETS**
CURRENT ASSETS||||||
|Debtors
Cash at bank
Debtors
Cash at hank||8|8
&|17,398
5,243
17,398
~~5,2~~43|49,248
1,332
49,248
~~1,3~~32|
|||||22,641
22,641|50,580
50,580|
|**CREDITORS**
CREDITORS||||||
|Amounts falling due within one year
Amounts falling due within oneyear||9|9
9|(5,000)
(5,000)|(5,000)
£5,000)|
|**NET CURRENT ASSETS**
HETCURRENTASSETS||||17,641
~~17,64~~1|45,580
~~45,5~~80|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**
TOTALASSETSLESSCURRENTLEABILITIES||||304,463
204 463|333,655
333,655|
|**NET ASSETS**
NETASSETS||||304,463
~~304,46~~5|333,655
~~333,65~~5|
|**FUNDS**
FUNDS||||||
|Unrestricted funds
Unrestriched funds||||304,463
~~404,46~~3|333,655
~~433,65~~5|
|**TOTAL FUNDS**
TOTALFUNDS||||304,463
~~304,46~~3|333,655
~~333,65~~5|
> The The financial financial statements statements were were approved approved by the Board by the of Trustees Board and of authorised Trustees and for issue authorised on 5 September for issue 7025 on and
> ............................................. and were signed on its behalf by: were signed on its behalf by:, z ¢
............................................. Mr M Bennett - Trustee Mr M Bennett - Trustee so
The notes form part of these financial statements
Page 5
**MICHAEL AND LESLEY BENNETT CHARITABLE TRUST**
**Notes to the Financial Statements FOR THE YEAR ENDED 5 APRIL 2025**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, 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 Charities Act 2011. 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 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.
## **Taxation**
The charity is exempt from 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. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||2025|2024|
||£|£|
|Curr asset inv income|3,452|1,115|
continued...
Page 6
**MICHAEL AND LESLEY BENNETT CHARITABLE TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 5 APRIL 2025**
## **3. RAISING FUNDS**
## **Investment management costs**
## **4.**
|Portfolio management
**GRANTS PAYABLE**
Advancement of the arts, culture and humanities
Community development
Advancement of health
Advancement of education
Advancement of religion|2025
£
461
2025
£
1,000
54,655
9,350
4,050
2,100
71,155|2024
£
1,502
2024
£
1,000
11,350
10,625
3,200
1,450
27,625|
|---|---|---|
The total grants paid to institutions during the year was £71,155 (2024: 27,625). A summary of grants made to institutions during the year is as follows:
Name of institution Amount (£) The Central British Fund for World Jewish relief 23,500 Community Security Trust 8,500 Chai-Lifeline Cancer Care 4,150 United Jewish Israel Appeal 2,300 Holocaust Educational Trust 2,000 United Synagogue 1,000 Other donations 29,705 Total 71,155
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 5 April 2025 nor for the year ended 5 April 2024.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 5 April 2025 nor for the year ended 5 April 2024.
## **6. STAFF COSTS**
There were no staff costs for the year ended 5 April 2024 nor for the year ended 5 April 2023.
continued...
Page 7
**MICHAEL AND LESLEY BENNETT CHARITABLE TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 5 APRIL 2025**
## **7. FIXED ASSET INVESTMENTS**
|**MARKET VALUE**
At 6 April 2024
Additions
Revaluations
At 5 April 2025
**NET BOOK VALUE**
At 5 April 2025
At 5 April 2024
There were no investment assets outside the UK.
Cost or valuation at 5 April 2025 is represented by:
Valuation in 2025
Cost
**8.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors|Listed
investments
£
288,075
3,451
(4,704)
286,822
286,822
288,075
Listed
investments
£
12,261
274,561
286,822
2025
2024
£
£
17,398
49,248
2025
2024
£
£
5,000
5,000|
|---|---|
|||
## **10. RELATED PARTY DISCLOSURES**
During the year, the Charity received donations totalling £35,600 (2024: £33,990) from Michael Bennett, a Trustee. Included in other creditors is £2,300 (2024: £2,300) due to Michael Bennett.
Page 8