2022-03-31-accounts

Charity number: 1063559

THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

CONTENTS

	Page
Reference and administrative details of the charity, its Trustees and advisers	1
Trustees' report	2 - 6
Trustees' responsibilities statement	7
Independent auditor's report on the financial statements	8 - 11
Statement of financial activities	12
Balance sheet	13
Notes to the financial statements	14 - 27

THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022

Trustees	Peter Swimer
	Israel Weinstock
	Dr David Krasner
Charity registered number 1063559 Principal office Ground Floor Churchill House 120 Bunns Lane Mill Hill NW7 2AS Independent auditor Blick Rothenberg Audit LLP Chartered Accountants Statutory Auditor 16 Great Queen Street Covent Garden London WC2B 5AH Solicitors Howard Kennedy No. 1 London Bridge London SE1 9BG Investment Managers Julius Baer International Ltd 1 St Martin's Le Grand London EC1A 4AS Investment Managers Canaccord Genuity Wealth Management 41 Lothbury London EC2R 7AE

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

The Trustees present their annual report together with the financial statements of The Dyna and Fala Weinstock Charitable Trust for the year 1 April 2021 to 31 March 2022.

The Trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document, the Charities Act 2011 and the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) 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

a. Policies and objectives

The trustees have the power under the Trust Deed to apply the Trust Fund for any charitable purpose at their absolute discretion. However the primary consideration of the trustees is to apply the Trust Fund for medical projects principally in relation to providing blood clinics and work towards the alleviation of symptoms of blood disorders, and research into and development of cures and treatments for sufferers of blood disorders.

During the year the charity's objectives were to continue to support a wide variety of registered charities operating in medical, educational, cultural and poverty relief activities in the United Kingdom, Eastern Europe and Israel.

The charity is able to achieve its objectives by the release of income and capital from its investment portfolio which is used to fund grants to other charitable organisations.

The trustees have paid due regard to the Charity Commission's public benefit guidance in considering the Charity's objectives and activities. The trustees consider that any reader would be satisfied the actions of the charity work towards these objectives.

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. Grant-making policies

"The Charity’s policy on grant-making is to be primarily reactive and pragmatic, with the aim of selecting the best projects from applications received. Most grants are for core funding or capital projects."

The trustees assess grant applications, taking into account key factors such as the extent of the need, evidence of effectiveness, capacity to deliver, and the length of time since the last grant was made to the applicant, as well as the charitable aims of the project. The trustees decide at their meetings which applicants to fund.

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Objectives and activities (continued)

c. Applications for funding

Organisations who would like to apply to the Dyna and Fala Weinstock Charitable Trust for funding of projects are invited to submit a written application to the trustees at:

Dyna and Fala Weinstock Charitable Trust Ground Floor Churchill House 120 Bunns Lane Mill Hill NW7 2AS

The charity will only accept applications from registered charities. Funding is provided for both core and capital project costs.

The trustees meet regularly to review all applications which fall within the current priorities for funding and review each application within three months of receipt. Most of the grants awarded are one-off payments but recurring grants for up to a year may be made subject to specific conditions. These conditions include an annual progress review where payment of subsequent years' grants is dependent on the satisfactory outcome of the progress review or recipients being able to prove they have obtained full funding for the specific project. Further appeals from organisations will not normally be considered for three years from the date of the final award.

Contact is maintained with recipients of grants formally through receipt of reports from charities or informally via the trustees visiting the donee.

Achievements and performance

a. Main achievements of the charity

Donations by the Trust have helped alleviate the effects of poverty, ill health and abuse in the UK, Eastern Europe and Israel as well as advancing education in many fields.

Highlights:

The Trust agreed to grant £300,000 to the Weizmann Institute, to help fund a new student lounge within their Physics Building.

The Trust granted $50,000 to Tel Aviv University Trust, for the naming of a seminar room within the Sourasky Central Library.

The Trust also made various grants during the year, to assist the Jewish community within Ukraine and the surrounding areas, following the continued deteriorating situation within Ukraine.

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Achievements and performance (continued)

b. Investment policy and returns

Under the Deed of Variation, the trustees may invest or appropriate the Trust Fund as they think fit. Decisions of most of the Trustees present airing at any duly constituted meeting are valid and binding on all the Trustees.

The trustees have engaged Julius Baer Group and Canaccord Genuity Wealth Management to provide them with professional investment management advice. As at 31 March 2022 the total funds were £5,558,903 a decrease of 9.27% on the brought forward funds of £6,126,828.

The investments this year generated an net loss of £179,221 (2021 a gain of: £1,642,788). The Julius Baer portfolio is a few number of large investments, whereas the Canaccord Genuity Wealth Management investment portfolio holding is a larger number of investments at smaller values with the aim to diversify. The significant gain recognised in the prior year was following a recovery of the stock markets, after the initial crash due to the outbreak of COVID-19, which caused the stock markets to decrease substantially.

Financial review

a. Going concern

The income of the Trust is almost entirely derived from investments held by an investment portfolio managed by Julius Baer Group and Canaccord Genuity Wealth Management. The investment portfolios holds a diverse range of investments which reduce the investment holding risk. COVID-19 and the resulting lockdown saw a decline and then a recovery in global stock markets. The trustees are also aware of the possibility of reduced dividend and interest income. There are however significant unrestricted funds available and they consider that the Trust would continue to meet its obligations as they fall due.

Thus 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.

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

b. Financial review

The financial developments of the Trust during the period are as shown in the attached financial statements.

The principal funding source of the charity is investment income received in the form of dividends on equity shares and interest on cash balances. Realised gains on the disposal of equity investments are also a source of income. In the current year the income from investments has increased compared to the prior year. This is due to continued additions to investment portfolio in the current year, along with fewer disposals than in the prior year.

Investments are held for growth under the management of professional custodians. The objective of the investment policy is to generate income that can be used to make grants in support of the charity's objectives.

During the year, a number of investments were sold, from which proceeds of £4,592,977 (2021: £2,011,136) were received and this was used to diversify the charity's investment portfolio as well as make donations to charitable organisations. The charitable organisations faced continued challenges, due to the COVID-19, which were taken into account by the trustees when considering the grant allocations. The trustees are pleased to report that the total donations agreed in the year were £624,335 (2021: £1,477,448) which were all made to charitable institutions.

As at 31 March 2022, the reserves of the Trust amounted to £5,210,475 (2021: £5,939,311). The policy of the trustees is to hold the income of the charity in reserves until suitable charitable causes are identified. While the current year shows a net reduction in the funds of the charity, the trustees' commitment to making grants to institutions to fund projects which work towards the objectives of the charity.

Structure, governance and management

a. Constitution

The Dyna and Fala Weinstock Charitable Trust is a unincorporated registered charity, number 1063559. The Trust was established and is governed by the Deed of Variation in the Estate of the Late Dyna Malka MlynekWajnsztok dated 4 June 1997.

b. Methods of appointment or election of trustees

Under the Deed of Variation, the power of appointing new trustees of the charity was vested in Fala Weinstock (deceased). Since her death on 1 August 2001, a trustee may be appointed or discharged by a resolution of a meeting of the trustees. None of the trustees has any beneficial interest in the charity.

New trustees undergo an orientation day to brief them on their legal obligations under charity law, the committee, the decision making process, the business plan and recent financial performance of the Charity. Trustees are encouraged to attend appropriate external training events which will facilitate the undertaking of their role.

Due to the size of the charity the trustees do not have official roles. Decisions are taken jointly at meetings of the trustees.

c. Risk management

The Charity has a risk register maintained by the trustees. The register is reviewed on a regular basis at the meetings of trustees. Systems and procedures have been put in place to manage those risks. In particular, risk is managed by the trustees who ensure it is considered and integral element of all decision making and identify appropriate procedures to ensure that risk levels are acceptable in each case.

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST TRU8TEE8' REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Plans for futur• periods To di8tribut fund$ to a range of ¢hantable Institutions, focusing mainly, but not exclusively. on th8 stst8d objed of the tru51 To p8rpetU8t8 the memory of Dyna and F818 Weinstock through commemora￿0￿3 S55OC18ted with the larger donations. To manag8 the qssets ol the trust In a prudent m8nner, with th8 b8nefil of prof85sional 8dwiGe Dls¢lo$ur• of Inlomitlon to audltor Each ol the persons who a￿ truste8s at the titne whgn this trustees, report is approved has confirn8d that.. Bo far a5 that trustee ￿ aware. ther is no relevant audit Inforrnation ol which the charity's auditor is unaware, and that Irust8e has taken all the slèp$ that ought to have been taken as a tru8188 in ordor to ba aware of ony relevant audil Infom)alion and to establish that the chanty'5 auditor is aware of that informalicn. Audltor Tha auditor, Blick Rothgnbgig Audit LLP. h•5 indicated his willingn888 to continug in offi¢9 The de5ignAted tru8teos will prop088 a mobon reappDinng thè audrtor at a meoling of the trusteès Approved by ord8r of tha members of the board of trustees and n their behaK by.. P•t•r 8wlm•r Trustee •lnst•¢k ru8te8 Dr Di¥ld Krisn•r Trustee Dat8. 13 March 2023 Pag8 6

THE DYNA AND FALA WÈIN8TOCK CHARITABLE TRUST 8TATEMENT OF TRUSTEES. RESPONSIBILITIE8 FOR THE YEAR ENDED 31 MARCH 2022 Th8 trustees arp responsible for preparing the trustees, report and the financr41 staternents In accordance with appliGable law 8nd Uniled Kingdom Accounting Standards (Untted Kingdotn Genèrally Acwted Accounting Praclicel. Th8 law applicable to charities In En9land & Walès require5 the trustèès to prtpaie financial statements for each financial y8ar which gwe a true and fair view of the stat8 of affairs of the charity and of rt$ In¢oming resources and application of rèsour￿$, Including its income and 8xp•nditure. for that period. In praparing these finqncial stslern8nts. the truste05 are required to selecl suitabl8 aG¢ounting policies and then 2pply them consislently., observ8 the tnethods and principles of Ihe chaii119s SORP IFRS 1021,. Tnake iudgmènts and accDuntitbg estimat85 that art r8asanablg and prudent. state whethgr applicable UK Accounting Sthndards IFRS 1021 hav& b88n followed. subject to any material departuies diSGlosed and explsined In Ihe financial 5101gmenls'. pr8par9 the financial stat8m*nls on the going concern basis Un￿SS ￿t Is Inappropriate to presume that the charity will conts.nue in business The Iruslee5 are losponsible for keeping adgquate accounting re￿rdS Ihal are sufficiant to show and explain the charity's transactions Bnd disc105e with reasonabltr accuracy at sny time thè financial position of the ch8rlty and anablo them Io ensure that the fina￿8¥ staternenls comply with the Charities Act 2011, the Charity (Account8 ana ￿eports) Regulations and the provisions of the Trust dged. They are also r8sponsiblg for 5af0gu8rding th¢ a%sels of thè chèrity 4nd hence for taking rèasonable steps for tha prèvention and d8leclion of fraud and other irreoulanlie5 Approved by order of the rn8mb•rs of thè board ol trust8es and $Sgn Its beh81f by P•t•r 8wlmtr Tru$tee

el

Trustee •lnsto#k Dr Davld Kragn•r Tfus188 Dd19 13 March 2023 Pagb 7

THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

Opinion

We have audited the financial statements of The Dyna and Fala Weinstock Charitable Trust (the 'charity') for the year ended 31 March 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

• give a true and fair view of the state of the charity's affairs as at 31 March 2022 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 Charities Act 2011.

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 charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 charity's ability to continue as a going concern for a period of at least twelve 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.

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST (CONTINUED)

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. 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 course of 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

• the information given in the trustees' report is inconsistent in any material respect with the financial statements; or

• sufficient accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records and returns; 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, the trustees are responsible for the preparation of the financial statements which 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 charity'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.

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST (CONTINUED)

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

• we identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our commercial knowledge and experience of the charity's sector;

• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the ccharity, including the Charities Act 2011, Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with FRS102;

• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and

• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

• performed analytical procedures to identify any unusual or unexpected relationships;

• tested a sample of journal entries to identify unusual transactions; and

• investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

• agreeing financial statement disclosures to underlying supporting documentation;

• reading the minutes of meetings of those charged with governance; and

• enquiring of management as to actual and potential litigation and claims

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST (CONTINUED)

Auditor's responsibilities for the audit of the financial statements (continued)

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: 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 charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters 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 charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Blick Rothenberg Audit LLP

Chartered Accountants Statutory Auditor 16 Great Queen Street Covent Garden London WC2B 5AH

Date: 15 March 2023

Blick Rothenberg Audit LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Note Income from: Investments 3 Total income Expenditure on: Raising funds 4 Charitable activities 6 Total expenditure Net expenditure before net (losses)/gains on investments Net (losses)/gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2022 £ 157,706 157,706 22,575 684,746 707,321 (549,615) (179,221) (728,836) 5,939,311 (728,836) 5,210,475	Total funds 2022 £ 157,706 157,706 22,575 684,746 707,321 (549,615) (179,221) (728,836) 5,939,311 (728,836) 5,210,475	Total funds 2021 £ 137,905 137,905 25,337 1,548,540 1,573,877 (1,435,972) 1,642,788 206,816 5,732,495 206,816 5,939,311

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 14 to 27 form part of these financial statements.

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THE DYNA ANO FALA WEINSTOCK CHARITABLE TRUST BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Not• Flx¢d ass¢ts Inv8Stm8nls 10 6.668,903 6.126.828 Current assets Debtors Cash at bank and In hand 14.079 308,997 12,274 452.840 324,578 465,114 Creditors." amount5 falling due within one yéar 1673,0041 1652,6311 Net Gurrpnt Ilablllt1*5 1348,4281 1187.5171 Total assets less ourront Ilabllltl•s 6.210,476 5,939.311 Net assets excluding penslon ass•t 6,210,47S 5.939.311 Total net Assets 6,210,476 5.939 311 Charlty funds Unie5tri￿ed funds 14 6.210.476 5.939.311 Total funds 6,210.4Tfj 5,939,311 The financial stat8rn8nts were approved and authorised f issue by ste&s and signed on thei¥ behalf by. Petsr Swlm•r Tru5te8 sra W•ln¥too Trustee Or Davld Kr45n•r Trustee Oate 13 March 2023 The notes on pages 14 10 27 form part of these financial statements. Page 13

THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. General information

The Dyna and Fala Weinstock Charitable Trust is a charity registered in England and Wales. The Charity's registered number is 1063559 and the principal office is Ground Floor, Churchill House, 120 Bunns Lane, Mill Hill, NW7 2AS.

The financial statements are presented in Sterling (£).

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 and UK Generally Accepted Accounting Practice.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Dyna and Fala Weinstock 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 Going concern

After making enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2. Accounting policies (continued)

2.3 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.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probate when the amounts can be measured reliably, and the charity has been notified of the executor's intention to made a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as contingent asset and disclosed if material.

2.4 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 under the following activity headings:

• Cost of raising funds comprise the costs of exchange gains or losses and any foreign dividend tax charges.

• Charitable activities includes the governance costs which are the costs incurred with administration of the charity, and the donation expenditure.

• Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

• Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

• Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2. Accounting policies (continued)

2.6 Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the statement of financial activities.

2.7 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.

2.8 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.

2.9 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.

2.10 Financial instruments

The charity has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the charity becomes party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

The charity’s policies for its major classes of financial assets and financial liabilities are set out below.

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2. Accounting policies (continued)

Financial instruments (continued)

Financial assets

Basic financial assets, including other debtors, cash and bank balances, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets

Financial assets 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 the profit and loss account.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2. Accounting policies (continued)

Financial instruments (continued)

Derecognition of financial assets and financial liabilities

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities

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.

2.11 Contingent liability

In accordance with the SORP, a contingent liability is disclosed for those grants which do not represent liabilities, where the possible obligation, which arises from past events, will only be confirmed by the occurrence of one or more uncertain future events not wholly within the trustees' control.

3. Investment income

Unrestricted funds 2022 £ Income from local listed investments 56,894 Investment income - foreign listed investments 75,132 Interest receivable on listed investments 25,680 157,706	Total funds 2022 £ 56,894 75,132 25,680
	157,706

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

3. Investment income (continued)

Income from local listed investments Investment income - foreign listed investments Interest receivable on listed investments	Unrestricted funds 2021 £ 43,246 66,028 28,631 137,905	Total funds 2021 £ 43,246 66,028 28,631
		137,905

4. Investment management costs

Unrestricted funds 2022 £ Irrecoverable tax on foreign dividend income 7,781 (Profit)/loss on foreign exchange 14,794 22,575 Unrestricted funds 2021 £ Irrecoverable tax on foreign dividend income 9,044 (Profit)/loss on foreign exchange 16,293 25,337	Total funds 2022 £ 7,781 14,794
	22,575
	Total funds 2021 £ 9,044 16,293
	25,337

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

5. Analysis of grants

Institutional grants Institutional grants	Grants to Institutions 2022 £ 624,335 Grants to Institutions 2021 £ 1,477,448	Total funds 2022 £ 624,335
		Total funds 2021 £ 1,477,448

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

The charity has made the following material grants to institutions during the year: 2022 £ Beth Shalom Limited 25,000 British Emunah Fund - British Friends of Aleh - The British Friends of the Bar-Ilan University 50,048 The British Friends of Beth Lohamei Hagetaot - British Friends of Hala Jerusalem Comprehensive Breast Center - British Friends of Jaffa Institute - British Friends of Or Chadash 20,000 British Friends of Rambam Medical Center - British Friends of Shuvu - British Friends of United Hatzalah of Israel - Camp Simcha - The Central British Fund for World Jewish Relief 20,000 Community Security Trust - Friends of Mayanei Hayeshua Medical Center Limited - Hadassah Medical Relief Association - Hatzola Trust Limited - JLE 20,000 JNF Charitable Trust - The Kemach Foundation - Laniado Hospital UK - The Merephdi Foundation - Moreshet Hatorah Limited - Norwood Ravenswood - Orach Chaim Foundation 19,033 Ohel Sarah 17,500 The Royal Free Charity - Schneider Children's Medical Centre 38,072 Shaare Zedek UK - Soroka Medical Center - Tel Aviv University Trust 37,273 Tikva UK 20,000 UK Gives Ltd - UK Friends of Yad Yisroel Incorporating Sponsor a Meal Foundation - UK Toremet Limited 25,000 Wiezmann Institute 300,000 Other donations 32,409 624,335

2021 £ 25,000 60,000 14,436 - 100,000 88,000 34,000 - 119,800 23,250 30,750 40,000 50,000 20,000 64,437 294,333 75,000 - 10,000 18,160 14,436 123,354 20,000 10,000 - - 15,000 - 14,437 127,125 - - 20,500 18,161 - - 47,269

1,477,448

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

6. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted funds 2022 £ Institutional grants 624,335 Accountancy fees 1,454 Auditors' remuneration 7,920 Bank charges 51,037 684,746 Unrestricted funds 2021 £ Institutional grants 1,477,448 Legal and professional 24,493 Accountancy fees 1,762 Auditors' remuneration 7,440 Bank charges 37,397 1,548,540	Total 2022 £ 624,335 1,454 7,920 51,037
	684,746
	Total 2021 £ 1,477,448 24,493 1,762 7,440 37,397
	1,548,540

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

7. Analysis of expenditure by activities

Grant funding of activities 2022 £ Institutional grants 624,335 Accountancy fees - Auditors' remuneration - Bank charges - 624,335 Grant funding of activities 2021 £ Institutional grants 1,477,448 Legal and professional - Accountancy fees - Auditors' remuneration - Bank charges - 1,477,448 8. Auditor's remuneration Fees payable to the charity's auditor for the audit of the charity's annual accounts Fees payable to the charity's auditor in respect of: All non-audit services not included above	Support costs 2022 £ - 1,454 7,920 51,037 60,411 Support costs 2021 £ - 24,493 1,762 7,440 37,397 71,092 2022 £ 7,920 1,080	Total funds 2022 £ 624,335 1,454 7,920 51,037
		684,746
		Total funds 2021 £ 1,477,448 24,493 1,762 7,440 37,397
		1,548,540
		2021 £ 7,440 960

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

9. Trustees' remuneration and expenses

During the year, no trustees received any remuneration or other benefits (2021 - £NIL).

During the year ended 31 March 2022, no trustee expenses have been incurred (2021 - £NIL).

10. Fixed asset investments

Valuation At 1 April 2021 Additions Disposals Revaluations At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021	Investments £ 6,126,831 4,204,272 (4,831,033) 58,833
	5,558,903
	5,558,903
	6,126,831

If listed investments had been valued under the historical cost convention they would have been included in the balance sheet at a cost of £4,711,140 (2021: £3,538,635).

Investments at market value comprised:

Investments listed on UK stock exchange Investments listed on non-UK stock exchange	2022 £ 2,911,617 2,647,286 5,558,903	2021 £ 2,180,825 3,946,003 6,126,828

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

The Trustees consider that the following investment holdings were material at the year end: HSBC Investment Funds Petroleas Mexicanos CQS Funds (Ireland) PLC ASML Holding NV Alphabet Inc Capital Stock Legal and General UCITS ETF PLC L&G Cyber Sec Legal and General UCITS ETF PLC Robo Global Polar Cap GBL Healthcare Trust PLC Polar Capital Technology Trust Rio Tinto RIT Capital Partners Antofagasta ORD

2022 £ 143,559 150,996 164,226 133,575 211,687 246,138 162,552 183,287 273,120 218,880 156,009 217,425

2,261,454

11. Debtors

Prepayments and accrued income Creditors: Amounts falling due within one year Other creditors Accruals and deferred income	2022 £ 14,579 2022 £ 664,004 9,000 673,004	2021 £ 12,274
		2021 £ 644,231 8,400
		652,631

12. Creditors: Amounts falling due within one year

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

13. Financial instruments

	2022	2021
	£	£
Financial assets
Financial assets measured at fair value through income and expenditure	5,558,903	6,126,828

Financial assets measured at fair value through income and expenditure comprise listed investments held within an investment portfolio.

14. Statement of funds

Statement of funds - current year

					Balance at
Balance at 1				Gains/	31 March
	April 2021	Income	Expenditure	(Losses)	2022
	£	£	£	£	£
Unrestricted funds
Reserves	5,939,311	157,706	(706,721)	(179,221)	5,211,075
Unallocated amounts	-	-	(600)	-	(600)
	5,939,311	157,706	(707,321)	(179,221)	5,210,475
Statement of funds - prior year
					Balance at
	Balance at			Gains/	31 March
	1 April 2020	Income	Expenditure	(Losses)	2021
	£	£	£	£	£
Unrestricted funds
Reserves	5,732,495	137,905	(1,573,877)	1,642,788	5,939,311

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THE DYNA AND FALA WEINSTOCK CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

15. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted funds 2022 £ Fixed asset investments 5,558,903 Current assets 324,576 Creditors due within one year (673,004) Total 5,210,475 Analysis of net assets between funds - prior year Unrestricted funds 2021 £ Fixed asset investments 6,126,828 Current assets 465,114 Creditors due within one year (652,631) Total 5,939,311	Total funds 2022 £ 5,558,903 324,576 (673,004) 5,210,475 Total funds 2021 £ 6,126,828 465,114 (652,631) 5,939,311

16. Contingent liabilities

At the balance sheet date, the Trust had a contingent liability balance of £Nil (2021: £36,321). These balances represent amounts agreed as donations, but which are subject to conditions outside the control of the Trustees which must be satisfied before the donation is made.

17. Related party transactions

The charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the charity at 31 March 2022.

18. Post balance sheet events

Since the year end the fair value of the charity's investments had declined by approximately £265,000. These subsequent changes in the fair value of the charity’s investments are not reflected in the financial statements as of 31 March 2022.

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