Charity number: 1067325
THE MICHAEL VON CLEMM CHARITABLE TRUST
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE MICHAEL VON CLEMM CHARITABLE TRUST
CONTENTS
Page
Reference and administrative details of the charity. its trustees and advisers
Trustees, report
Independent examiner's report
Statement of financial activities
Balance sheet
Notes to the financial ststements
8-12

THE MICHAEL VON CLEMM CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARI￿. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
Mr William Iselin
Mrs Charlotte von Clemm Iselin
Ms Stefanie von Clemm
Charity registered number
1067325
Principal office
Millbrook House, Broadwell, Moreton-in-march, GL56 OTN
Independent examiner
Hillier Hopkins LLP, 45 Pall Mall, London. SW1Y 5JG
Bankers
Coutts & Co, London, WC2R OQS
Page 1

THE MICHAEL VON CLEMM CHARITABLE TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together with the financial statements of the charity for the 1 January
2024 to 31 De￿mber 2024.
Objectives and Activities
a. POLICIES AND OBJECTIVES
The Trust was established in memory of the late Michael von Clemm to finance an academic exchange program
be￿een students at Oxford University, England and Harvard College, USA. During his life Michael von Clemm
attended both these universities and was a strong advocate of the benefits that could flow from academic study
in both countries.
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.
Structure, governance and management
a. CONSTITUTION
The Trust was established by a Declaration of Trust by the present trustees on 23rd December 1997.
The Trust is a registered charity No. 1067325.
TRUSTEES. RESPONSIBILITIES STATEMENT
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 Select jurisdiction requires the Trustees to prepare financial statements for
each financial year which give a true and fair view of the state of affairs of the charity and of the incoming
resources and application of resources of the charity for that period. In preparing these financial statements, the
Trustees are required to-
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP.,
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going COn￿M basis unless it is inappropriate to presume that the
charity will continue in operation.
The Trustees are responsible for keeping proper 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.
Page 2

THE MICHAEL VON CLEMM CHARITABLE TRUST
TRUSTEES. REPORT {continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
This report was approved by the Trustees and were signed on their behalf by:
Ms Stefan
e von Clemm
Date: 29th December 2025
Page 3

THE MICHAEL VON CLEMM CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MICHAEL VON CLEMM CHARITABLE
TRUST (the 'charity')
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December
2024.
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 I might state to the charity's
Trustees those matters l am required to state to them in an Independent examinerfs report and for no other
purpose. To the fullest extent pemiitted by law, I 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 reporL
RESPONSIBILITIES AND BASIS OF REPORT
As the Trustees of the charity you are responsible for the preparation of the accounts in accordan￿ with the
requirements of the Charities Act 2011 ('the 2011 Act,).
I 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 I have followed all the applicable Directions given by the Charity Commission
under section 145(5){b) of the 2011 Act
INDEPENDENT EXAMINER'S STATEMENT
Your attention is drawn to the fact that the charity has prepared the accounts in accordan￿ with Accounting and
Reporting by Charities.. Statement of Recommended practi￿ applicable to charities preparing their accounts
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} in
preference to the Accounting and Reporting by Charities". Statement of Recommended Practi￿ issued on 1 April
2005 which is referred to in the extant regulations but has been withdrawn.
l understand that this has been done in order for the accounts to provide a true and fair view in accordance with
the Generally Accepted Accounting practi￿ effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I can confirm that no matters have come to my attention in connection with
the examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act., or
the accounts do not accord with those records,. or
the accounts do not comply with the applicable requirements conceming 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 fairf view which is not a matter considered as part of an independent
examination.
Page 4

THE MICHAEL VON CLEMM CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
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.
Signed..
Dated:
HILLIER HOPKINS LLP
Chartered Accountants
45 Pall Mall
London
SW1Y 5JG
Page 5

THE MICHAEL VON CLEMM CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
INCOME FROM:
Other trading activities
Other income
66,000
817
66,000
817
653
TOTAL INCOME
66,817
66,817
653
EXPENDITURE ON:
Charitable activities
88.716
88.716
69,385
TOTAL EXPENDITURE
88.716
88.716
69,385
NET EXPENDITURE BEFORE OTHER RECOGNISED
GAINS AND LOSSES
(21,899)
(21.899)
(21,899
(21.899)
(68, 732)
(68, 732J
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
134.583
134.583
203,315
112,684
112,684
134,583
TOTAL FUNDS CARRIED FORWARD
The notes on pages 8 to 12 form part of these financial statements.
Page 6

THE MICHAEL VON CLEMM CHARITABLE TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Note
CURRENT ASSETS
Debtors
Cash at bank and in hand
1,198
127.890
2.391
149, 187
129.088
151,578
CREDITORS: amounts falling due within
one year
{16.404)
(16,995)
NET CURRENT ASSETS
112.684
134, 583
NET ASSETS
112.684
134,583
CHARITY FUNDS
Unrestricted funds
10
112.684
134, 583
TOTAL FUNDS
112,684
134,583
The financial statements were approved by the Trustees on
and signed on their behalf, by..
Ms Ste
nie von Clemm
The notes on pages 8 to 12 form part of these financial statements.
Page 7

THE MICHAEL VON CLEMM CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES
1.1 Basis of preparation of financial statements
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 the Charities SORP {FRS 102) published on 16
July 2014 rather than the Accounting and Reporting by Charities.. Statement of Recommended
Practice effective from 1 April 2005 which has Sin￿ been withdrawn.
The financial statements have been prepared under the historical cost convention with items
recognised at cost or transaction value unless otherwise stated in the relevant notes to these
accounts. The financial statements have been prepared in accordance with the Statement of
Recommended practi￿.. 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 and Financial Reporting Standard applicable in the United Kingdom and
Republic of Ireland (FRS 102) and Charities Act 2011.
The Michael Von Clemm Charitable Trust constitutes a public benefit entity as defined by FRS 102.
1.2 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.
Other income is recognised in the period in which it is receivable and to the extent the goods have
been provided or on completion of the servi￿.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third paty, 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 dIreC￿Y 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 be￿een those
activities on a basis consistent with the use of reSoUr￿s. Central staff costs are allocated on the
basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Governan￿ costs are those incurred in connection with administration of the charity and compliance
with constitutional and statutory requirements.
Charitable activities and G0Veman￿ costs are costs incurred on the charity's educational
operations, including support costs and costs relating to the governan￿ of the charity apportioned to
charitable activities.
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.
Page 8

THE MICHAEL VON CLEMM CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES Icontinued)
1 A Interest receivable
Interest on fijnds held on deposit is included when receivable and the amount can be measured
reliably by the charity- this is nomially upon notification of the interest paid or payable by the Bank.
1.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
1.6 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.
1.7 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 within
interest payable and similar charges.
1.8 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 ex￿ptIOn of bank loans which are
subsequently measured at amortised cost using the effective interest method.
1.9 Fund accounting
General frjnds are unrestricted fvnds 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.
Page 9

THE MICHAEL VON CLEMM CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
FUNDRAISING INCOME
Unrestricted
funds
2024
Total
funds
2023
Donations
66.000
ANALYSIS OF GRANTS
Grants to
Institutions
2024
Total
2024
Total
2023
Donations
75,435
75,435
54,163
Total 2023
54, 163
54, 163
Donations were made to the following institutions
2024
2023
Corpus Christi College Oxford
Designer Bookbinders
65.435
10.000
44,163
10,000
Total
75,435
54,163
GOVERNANCE COSTS
Unrestricted
funds
2024
Total
funds
2023
Governance Auditors, non audit costs
Bank charges
Trustee's remuneration
Employers Nl
(660)
966
12,505
470
1,440
807
12,505
470
13.281
15,222
Page 10

THE MICHAEL VON CLEMM CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE
Other costs
2024
Total
2024
Total
2023
Donations
Expenditure on governance
75.435
13.281
75.435
13.281
54,163
15,222
88,716
88,716
69,385
Total 2023
69,385
69, 385
NET INCOMEI{EXPENDITURE)
During the year, a Trustee received £12,505 remuneration (2023 - £12,505).
During the year, a Trustee received a benefits in kind £Nil (2023 - Nil).
During the year, no Trustees received any reimbursement of expenses (2023 - £NIL).
AUDITORS, REMUNERATION
The Independent Examiner's remuneration amounts to an Independent Examination fee of £1,500 (2023 -
£1,440)
DEBTORS
2024
2023
Other debtors
1,198
2,391
CREDITORS: Amounts falling due within one year
2024
2023
Other taxation and social security
Other creditors
Accruals and deferred income
84
14,820
1.500
15
16,980
16,404
16,995
Page11

THE MICHAEL VON CLEMM CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
10. STATEMENT OF FUNDS
STATEMENT OF FUNDS- CURRENT YEAR
Balance at
31
December
2024
Balance at
1 January
2024
Income Expenditure
Unrestricted funds
Reserves
Other General funds
244,880
{110,2971
244,880
{88,716) (132,196)
66,817
134,583
66,817
{88,716)
112,684
STATEMENT OF FUNDS- PRIOR YEAR
Balance at
31
December
2023
Balance at
1 January
2023
Income Expenditure
General funds
Reserves
Other General funds
244, 880
(41,565)
244, 880
(69,385) (110,297)
653
203.315
653
(69,385)
134,583
Page 12