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← The Sir Victor Blank Charitable Settlement

2025-04-05-accounts

TRUSTEES OF SIR VICTOR BLANK CHARITABLE SETTLEMENT TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

Charity Number: 1084187

TRUSTEES OF SIR VICTOR BLANK CHARITABLE SETTLEMENT

REFERENCE AND ADMINISTRATIVE DETAILS

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Trustees/key management
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Trustees/key management Sir Victor Blank
Lady S.H. Blank
S.M. Blank
Charity number 1084187
Principal office 53 Davies Street
London
W1K 5JH
Bankers Lloyds Banking Group pic
25 Gresham Street
London
EC2V 7HN
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Independent Examiner
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Azets
2"4 Floor
Regis House
45 King William Street
London
EC4R 9AN
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TRUSTEES OF SIR VICTOR BLANK CHARITABLE SETTLEMENT

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CONTENTS
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Page
Trustees’ report 1
Independent Examiner’s report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6
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TRUSTEES OF SIR VICTOR BLANK CHARITABLE SETTLEMENT

TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2025

The Trustees present their report and the financial statements for the year ended 5 April 2025.

OBJECTIVES AND ACTIVITIES

The trust deed allows the trustees to exercise discretion in determining the charitable causes to be supported. The trust deed places no restrictions on the way the charity operates. For a number of years, the trustees have determined to support good causes, at the discretion of the trustees and as allowed by the unrestricted funds available. There have been no changes to these objects during the year.

Management and Grant-making Policy

The trustees meet regularly to agree the strategy for activities, investments and risk management as well as to make decisions concerning donations and grants.

ACHIEVEMENTS AND PERFORMANCE FOR THE PUBLIC BENEFIT

The Trustees confirm that they have referred to the guidance contained in the Charity Commission general guidance on public benefit when reviewing the charity’s aims and objectives.

The Trustees considered many applications and appeals from both individuals and institutions. During the year the Settlement continued to make significant grants predominantly in the areas of education, medicine, religion and the arts. Details of grants made during the financial year are provided in note 9 to the financial statements.

FINANCIAL REVIEW

The Settlement’s work is entirely reliant on income and investment returns from its investment portfolio. At the end of the year, the charity's assets largely comprised investments and cash deposits. At that date the charity had unrestricted funds totalling £1,341,396 (2024: £1,635,289).

Grants of £386,470 (2024: £612,050) were paid and/or committed exclusively in accordance with the charity’s objects. During the year, the charity also paid £125,000 towards grant commitments outstanding from last year. Investment income received by the Trust amounted to £38,569 (2024: £48,957).

Investment Performance

The value of the investments held has decreased during the year due to disposals amounting to £259,295. This exceeded the gains on investments of £64,543, which consists of a realised gain on disposals of £11,501 and an unrealised gain of £53,042. Overall, the market value of investments held decreased by £194,752, from £1,884,853 to £1,690,101. The trustees consider the performance of investments to have been satisfactory during the year.

Risk management

The major risks to which the charity is exposed, as identified by the Trustees, have been reviewed and controls put in place in order to mitigate these risks. The trustees consider the variability of returns on the charity’s investment portfolio to be the main risk and have adopted a prudent investment policy to minimise any exposure from this risk.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

The charity's objects and regulations are regulated by a trust deed dated 10 December 1979 and under that deed is constituted as an unincorporated association. It is a registered charity, number 1084187.

Trustees

The trustees who served during the year were:

Sir Victor Blank

Lady S H Blank S. M. Blank

The Trustees are appointed by the remaining Board of Trustees. All trustees are considered key management and none of them receive a remuneration from the charity.

TRUSTEES OF SIR VICTOR BLANK CHARITABLE SETTLEMENT

TRUSTEES’ REPORT (continued)

Reserves Policy

All the funds of the charity are unrestricted and therefore available for application in accordance with the charity’s general objects. The trustees havea policy not to commit the charity to any significant long term commitments in respect of grants or other charitable expenditure.

Investment Policy

The trustees continue to invest in a mixture of equities as detailed in note 5 to these accounts and consider the mix of investments to be appropriate to the charity’s requirements.

PLANS FOR FUTURE PERIODS

The level of unrestricted funds held by the Settlement as at the balance sheet date have put it in a satisfactory position to continue to make charitable contributions as the Trustees see fit.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales 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 year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that 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. This report was approved by the trustees on de®ih NOVEMBERaie je 2025‘ al at Signed on behalf of the trustees

Sir Victor Blank

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SIR VICTOR BLANK CHARITABLE SETTLEMENT

| report to the charity trustees on my examination of the accounts for the year ended 5 April 2025 set out on pages 4 to 11.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

| report in respect of my examination of the charity’s accounts as carried out under section 145 of the Act. In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

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

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements 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; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.

| 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.

J Howard FCA For and on behalf of Azets 2" Floor Regis House 45 King William Street London EC4R 9AN A Date:[a”] r[FEBRUARY.] LS[ .20;] 2 f

TRUSTEES OF SIR VICTOR BLANK CHARITABLE SETTLEMENT

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STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 5 APRIL 2025

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Notes Unrestricted Funds
2025 2024
£ £
Income
Income from raising funds:
Investment income 2 35,337 45,512
Interest receivable 2 3,232 3,445
Total income 38,569 48,957
Expenditure
Charitable activities 3 397,005 625,929
Total expenditure 397,005 625,929
Net movement in funds beforegains on investments (358,436) (576,972)
Gains on investment assets 5 64,543 156,727
Net movement in funds (293,893) (420,245)
Reconciliation offunds
Fund balances brought forward at6 April 2024 7 1,635,289 2,055,534
Fundbalancescarriedforwardat5April2025 1,341,396 1,635,289

There were no recognised gains or losses other than those shown in the Statement of Financial Activities. There were no acquisitions or discontinued operations during either of the above two financial years.

The notes on pages 6 to 11 form part of the financial statements.

TRUSTEES OF SIR VICTOR BLANK CHARITABLE SETTLEMENT

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BALANCE SHEET

AS AT 5 APRIL 2025

Notes 2025 2024
£ £ £ £
Fixed assets
Investments 5 1,690,101 1,884,853
Current assets
Cash at bank 296,877 81,063
Creditors : Amounts falling
due within one year 6 645,582 330,627
Net current assets (348,705) (249,564)
Totalassetslesscurrent
liabilities		 1,341,396 1,635,289
Net assets 1,341,396 1,635,289
Unrestrictedfunds 7 1,341,396 1,635,289

Approved by the board of Trustees on cad2&

NVEMBER...2.025. ...and signed on its behalf by:

Trustee: Sir Victor Blank

Trustee: Lady Sylvia Blank

The notes on pages 6 to 11 form part of the financial statements.

5:

TRUSTEES OF SIR VICTOR BLANK CHARITABLE SETTLEMENT

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

  1. ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Sir Victor Blank Charitable Settlement is a registered charity no 1084187. It meets the definition of a public benefit entity as defined by FRS 102. The charity operates from 53 Davies Street, London, W1K 5JH. The nature of the charity’s operations and principal activities are set out on page 1.

1.2 Basis of preparation of accounts The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommenced 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 2015) — (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

Assets and liabilities are initially recognised at historic cost or transaction value, with the exception that investments are included at market value.

The financial statements are presented in Sterling (£). The level of rounding adopted in the financial statements is to the nearest £1.

1.3 Going Concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

1.4 Judgements and key sources of estimation uncertainty Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying value of assets and liabilities within the next financial year.

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TRUSTEES OF SIR VICTOR BLANK CHARITABLE SETTLEMENT

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

  1. ACCOUNTING POLICIES —- continued

1.7 Realised and unrealised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sale proceeds and opening market value (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value (or purchase date if later).

Investment assets are included in the accounts at their mid-market closing value at the balance sheet date. Where held as an ongoing investment they are included as fixed assets. If the investment is expected to be realised within twelve months it is categorised as a current asset. All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between the sale proceeds and opening market (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value (or purchase date if later).

1.9 Funds accounting

Unrestricted general funds — these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Cash at bank 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.

Other debtors are recognised at the settlement amount due.

Creditors are recognised where the Trust has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

Other creditors and accruals are recognised at their settlement amount due.

1.13 Financial instruments

The trust 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.

1.14 Taxation

As a charity, the Society is not liable to taxation on its income or surpluses on disposal of investments.

INVESTMENT INCOME 2025 2024
£ £
Dividends 35,337 45,512
Interest receivable 3,232 3,445
38,569 48,957

TRUSTEES OF SIR VICTOR BLANK CHARITABLE SETTLEMENT

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

3.

CHARITABLE ACTIVITES 2025 2024
£ £
Grants to institutions 386,470 612,050
Governance costs 10,535 13,879
397,005 625,929
GOVERNANCE COSTS 2025 2024
£ £
Independent examiner's fees— independent examination 2,500 2,500
Accountancy fees 8,035 11,379
10,535 13,879

Governance costs during the year have all been allocated against charitable activities.

During the year no trustee/key management or connected person has either received any remuneration (2024: £Nil) or expenses (2024: ENil).

5.

FIXEDASSET INVESTMENTS 2025 2024
£ £
Market value at6 April 2024 1,884,853 1,918,489
Additions at cost - -
Disposal proceeds (259,295) (190,363)
At 5 April 2025 1,625,558 1,728,126
Gains on investments 64,543 156,727
Market value at 5 April 2025 1,690,101 1,884,853
Historicalcostat5April2025 1,351,338 1,534,119

All investments are UK equities.

The charity’s investment in each of the following represented more than 5% of the managed portfolio at the year end:

Percentage of
Portfolio
lntertek Group plc, ordinary 1p shares 32.55%
ExperianGroupLtd,ordinary$0.10shares 62.09%

TRUSTEES OF SIR VICTOR BLANK CHARITABLE SETTLEMENT

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NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

  1. CREDITORS: Amounts falling due within one year 2025 2024 £ £ Accruals 13,646 11,691 Grants committed 181,936 318,936 Other creditors 450,000 - 645,582 330,627

  2. UNRESTRICTED FUNDS

All the funds of the charity are unrestricted.

  1. RELATED PARTY TRANSACTIONS

During the year the charity paid grants totalling to £61,920 (2024: £16,322) to Wellbeing of Women, a charity in which Sir Victor Blank is a Trustee.

No trustee expenses have been incurred in the current or prior period.

TRUSTEES OF SIR VICTOR BLANK CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

9. GRANTS 2025 2024
£ £
During the yearthe Charity made the following
grants to institutions:
Alliance for Middle East Peace - 20,000
Almshouse Assoc 2,500 2,500
Andrew Strauss Foundation - 2,500
Beit Halochem UK 500 -
Bishnat - 1,500
Blind Veterans UK - 1,000
British Friends ofHerzog 1,000 -
Camp Simcha 10,000 5,000
Combat Stress 300 -
Community Security Trust (CST) 50,000 30,000
Crisis UK 10,000 10,000
Deafblind UK 1,000 -
Elizabeth’s Smith UK Foundation Ltd - 30,000
Food Bank Aid - 2,000
Forward Thinking 10,000 10,000
Friends of All Saints Cuddesdon 500 -
Friends ofthe Earth 3,500 7,000
GLF - 24,000
Gurkha Welfare Trust - 1,500
HenryJackson Society 15,000 -
Highgate Synagogue - 6,000
Holland Synagogue 3,500 -
Hospice UK - 2,000
Initiation Society 5,000 -
Jacob Foundation (Jewish News) 10,000 -
JCoSS 5,000 -
Jewish Care 30,000 30,000
Jewish DeafAssociation 5,000 5,000
Jewish Lads’ and Girls’ Brigade 18,000 10,000
Jewish Literary Foundation 2,500 2,500
Jewish Women’s Aid - 1,500
Jewish Women’sWeek 250 -
Jnetics 1,000 -
JW3 Developments 5,000 -
Kisharon Langdon - 12,500
Limmud - 5,000
Listening Books 2,000 1,500
Maccabi GB 3,000 3,000
Magen DavidAdom UK - 5,000
Manchester Jewish Museum 5,000 -
Mitzvah Day UK 2,500 2,500
FoundationPhilanthropique(Latsis) 4,000 -

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TRUSTEES OF SIR VICTOR BLANK CHARITABLE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS

FORTHEYEAR ENDED5 APRIL 2025
GRANTS(CONTINUED) 2025 2024
£ £
During the yearthe Charity made the following
grants to institutions - continued:
National Holocaust Centre - 5,000
North London Hospice 1,000 -
Orchestra ofthe Age of Enlightenment 10,000 10,000
Oxford Philharmonic Orchestra 15,000 6,000
Project Lily 500 -
Proms at St Jude’s 4,000 -
Rees Foundation 500 -
Ruth Strauss Foundation (Elizabeth’s Smile) 3,000 -
Salvation Army - 1,000
Spanish & Portuguese Synagogue 5,000 15,000
StJohns Hospice 2,500 -
Strongbones Children’s Charitable Trust - 1,000
Technion UK - 5,000
The Abraham Effect - 10,000
The Bike Project 500 -
The FED - 2,000
The Jacob Foundation - 5,000
The Oxford Brookes Israeli Scholarship Fund 1,500 -
Tikva UK Childrens Home 500 -
The Sir Martin Gilbert Learning Centre - 5,000
UCLH - 2,000
United Jewish Israel Appeal 25,000 10,000
UJS 25,000 45,000
United Synagogue donation - 1,000
Walking with the Wounded - 1,000
Wellbeing ofWomen 61,920 -
Women’s Interfaith Network 12,000 10,000
Work Avenue Foundation 10,000 -
Yad Vashem UK Foundation - 2,500
Yom Hashoah UK 2,500 -
OtherGrants (lessthan £1,000) - 550
Grants committed but not yet paid:
The British Academy - 250,000
386,470 612,050
Grants committed but not yet paid:
British Academy Wellbeing ofWomen
£ £
At 6 April 2024 250,000 57,685
Paid in year 125,000 57,685
At5April2025 125,000 -