THE STANLEY COHEN CHARITABLE TRUST
TRUST ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023
PAGE
1 Notes on the Trust Deed 2 Statement of Financial Activities 3 Balance Sheet 4 Notes to the accounts
THE STANLEY COHEN CHARITABLE TRUST NOTES ON THE TRUST DEED
SETTLOR: Stanley Solomon Cohen DATE OF DEED: 12 March 1997 TRUSTEES: Mr Andrew Lynton Cohen Mrs Susan Lorraine Rubin Mr Daniel James Rubin Mrs Shelley Marie Morris CHARITY NUMBER: 1065470 CURRENT TRUST PROVISIONS OBJECTIVES: The trustees have broad discretion to apply the capital and income of the trust for the general charitable purpose of grant making. INVESTMENT POWERS: The investment powers are governed by Clause 10 of the constituting declaration of trust which gives a wider range of permitted investments.
THE STANLEY COHEN CHARITABLE TRUST FOR THE YEAR ENDED 5 APRIL 2023
STATEMENT OF FINANCIAL ACTIVITIES
| Notes Income Resources Gift Aid on Donations Legacy received (S Cohen) Donations Received Investments Income received Broker Fees Realised gains / (losses) Resources Expended Charitable Donations Legal Fees Bank Charges Accountancy Fees Net Outgoing Resources Net Movement in Funds Total Funds Brought Froward Total Funds Carried forward |
£ £ 0 0 0 0 32,540 (7,234) (4,401) 20,905 117,000 0 0 1,320 (118,320) (97,415) (97,415) 1,010,833 913,418 2023 |
£ £ 0 0 0 0 35,625 (9,238) (18,634) 7,752 95,000 72 25 2,280 (97,377) (89,625) (89,625) 1,100,458 1,010,833 2022 |
|---|---|---|
All amounts derive from continuing activities and relate entirely to unrestricted funds.
All gains and losses recognised in the year are included above.
THE STANLEY COHEN CHARITABLE TRUST
FOR THE YEAR ENDED 5 APRIL 2023
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BALANCE SHEET
Notes 2023 2022
£ £ £ £
Current Assets
Investment Portfolio 2 654,046 672,301
Loan to Maccabi GB 225,000 250,000
Cash at Bank - Investment Portfolio 31,929 83,090
Cash at Bank - Barclays 8,929 10,929
919,904 1,016,319
Current Liabilities
Creditors and Accruals 3 (6,486) (5,486)
Net Current Assets 913,418 1,010,833
Net Assets 913,418 1,010,833
Represented By
Trust Fund 913,418 1,010,833
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Approved on behalf of the trustees by:
…………………………………………………. …………………………………………………. MR ANDREW COHEN MRS SUSAN RUBIN
05 Feb 2024
Date: …………………………………….
THE STANLEY COHEN CHARITABLE TRUST
FOR THE YEAR ENDED 5 APRIL 2023
NOTES TO THE ACCOUNTS
1 ACCOUNTING POLICIES
INCOMING RESOURCES
| Recognition of incoming | These are included in the Statement of Financial Activities (SoFA) when: |
|---|---|
| resources | |
| the charity becomes entitled to the resources; | |
| the trustees are virtually certain they will receive the resources; and | |
| the monetary value can be measured with sufficient reliability. | |
| Incoming resources with | Where incoming resources have related expenditure (as with fundraising or contract income) |
| related expenditure | the incoming resources and related expenditure are reported gross in the SoFA. |
| Grants and donations | Grants and donations are only included in the SoFA when the charity has unconditional |
| Tax reclaims on | Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to |
| donations and gifts | which they relate. |
| Contractual income and | This is only included in the SoFA once the related goods or services have been delivered. |
| performance related | |
| grants | |
| Gifts in kind | Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the |
| Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or | |
| Gifts in kind for use by the charity are included in the SoFA as incoming resources when | |
| Donated services and | These are only included in incoming resources (with an equivalent amount in resources |
| facilities | expended) where the benefit to the charity is reasonably quantifiable, measurable and |
| Volunteer help | The value of any voluntary help received is not included in the accounts but is described in the |
| Investment income | This is included in the accounts when receivable. |
| Investment gains and | This includes any gain or loss on the sale of investments and any gain or loss resulting from |
| losses | revaluing investments to market value at the end of the year. |
| EXPENDITURE AND LIABILITIES | |
| Liability recognition | Liabilities are recognised as soon as there is a legal or constructive obligation committing the |
| Governance costs | Include costs of the preparation and examination of statutory accounts, the costs of trustee |
| Grants with performance | Where the charity gives a grant with conditions for its payment being a specific level of service |
| conditions | or output to be provided, such grants are only recognised in the SoFA once the recipient of |
| Grants payable without | These are only recognised in the accounts when a commitment has been made and there are |
| performance conditions | no conditions to be met relating to the grant which remain in the control of the charity. |
| Support Costs | Support costs include central functions and have been allocated to activity cost categories on |
| ASSETS | |
| Tangible fixed assets for | These are capitalised if they can be used for more than one year, and cost at least £500. |
| use by charity | They are valued at cost or a reasonable value on receipt. |
| Investments | Investments quoted on a recognised stock exchange are valued at market value at the year |
| Stocks and work in | These are valued at the lower of cost or market value. |
| progress | |
| INVESTMENTS | |
| 2023 2022 |
|
| £ £ |
2 INVESTMENTS
THE STANLEY COHEN CHARITABLE TRUST
FOR THE YEAR ENDED 5 APRIL 2023
| NOTES TO THE ACCOUNTS Cost as at 6th April Additions Disposals Recognised gains /(losses) Cost as at 5th April Market Value as at 5th April 3 CREDITORS Accountancy charges Broker Management Charges Other creditors |
672,301 83,519 (97,373) (4,401) 654,046 718,058 2023 £ 2,400 1,806 2,280 6,486 |
982,850 271,734 (563,649) (18,634) 672,301 761,869 2022 £ 3,360 2,126 - 5,486 |
|---|---|---|
4 TRANSACTIONS WITH TRUSTEES
The Trustees received no remuneration or reimbursement of expenses.
5 RELATED PARTIES
During the prior year the charity advanced a loan of £250,000 to Maccabi GB, a charity of which Andrew Cohen is a trustee. The loan is interest-free and repayable over a period of ten years. Since the loan agreement in August 2021, the trustees have decided to waive the annual repayments and donate the £25,000 per annum to Maccabi GB instead. At 5 April 2023, £225,000 of the loan remains outstanding.
Trustees’ Annual Report for the period
From 6 April 2022 To 5 April 2023
Charity name: The Stanley Cohen Charitable Trust
Charity registration number: 1065470
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | The trustees have broad discretion to apply the capital and income of the trust for the general charitable purpose of grant making |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
Grants are made to various charities and for various charitable purposes at the discretion of the trustees |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | At all times the trustees ensure that any grant complies with the guidance issued by the Charity Commission on public benefit |
Additional information (optional) You may choose to include further statements where relevant about:
SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | Donations of £117,000 were made to worthy causes during the year. |
Additional information (optional) You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | |
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | |
| Investment performance against objectives |
Para 1.41 | |
| Other |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | The charity showed a strong financial position at the year end, with the majority of its assets held within an investment portfolio |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | The funds invested generate regular income with which the charity can continue to support worthy causes |
| Amount of reserves held | Para 1.22 | £913,418 |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | None |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | None |
Additional information (optional)
You may choose to include further statements where relevant about:
The charity’s principal sources of funds (including Para 1.47 any fundraising) Investment policy and objectives including any Para 1.46 social investment policy adopted A description of the principal Para 1.46 risks facing the charity Other
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Trust deed dated 12 March 1997 |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Trust |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Appointed by existing trustees from the descendants of Stanley Cohen |
Additional information (optional) You may choose to include further statements where relevant about: Policies and procedures adopted for the induction and Para 1.51 training of trustees The charity’s organisational structure and any wider Para 1.51 network with which the charity works Relationship with any related Para 1.51 parties Other
Reference and Administrative details
| Charity name | Stanley Cohen Charitable Trust |
|---|---|
| Other name the charity uses | |
| Registered charity number | 1065470 |
| Charity’s principal address | Wood Hall Farm Office Woodhall Lane Shenley Herts WD7 9AA |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (if any) |
|---|---|---|---|---|
| Andrew Cohen | ||||
| Susan Rubin | ||||
| Daniel Rubin | ||||
| ShelleyMorris | ||||
– Corporate trustees names of the directors at the date the report was approved
Director name
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets None held in this capacity Name and objects of the None charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for None safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
Type of Name Address adviser
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
| Signed on behalf of th Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date |
e charity’s trustees | |
| Andrew Cohen | Susan Rubin | |
Trustee |
Trustee | |
05 Feb 2024 |
||
05 Feb 2024 |
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ Charity Name members of The Stanley Cohen Charitable Trust On accounts for the year 5[th] April 2023 Charity no 1065470 ended (if any) Set out on pages 1 to 2 (remember to include the page numbers of additional sheets)
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 05 / 04 / 2023 .
Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect:
-
accounting records were not kept in accordance with section 130 of the Act or
-
the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
- Please delete the words in the brackets if they do not apply. ~~05 Feb 2024~~ Signed: Date: Name: ANGELA SLEAT FCA Relevant professional FELLOW OF THE INSTITUTE OF CHARTERED ACCOUNTANTS IN qualification(s) or body ENGLAND AND WALES (if any):
Address: EVELYN PARTNERS (EAST) LLP, STONECROSS, TRUMPINGTON HIGH STREET, CAMBRIDGE CB2 9SU
Section B Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
October 2018
IER
1
Give here brief details of any items that the examiner wishes to disclose .
October 2018
IER
2
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