BERNARD LEWIS FAMILY CHARITABLE TRUST
YEAR ENDED
31 DECEMBER 2024
REGISTERED CHARITY NUMBER 1125035
BERNARD LEWIS FAMILY CHARITABLE TRUST
_________________
TRUSTEES
Bernard Lewis Caroline Grainge Clive Lewis Leonard Lewis
REGISTERED ADDRESS
Seymour Mews House 26-27 Seymour Mews London W1H 6BN
AUDITOR
Knox Cropper LLP Floor 5 65 Leadenhall Street EC3A 2AD
BANKERS
Barclays Bank Plc Strand Leicester Leicestershire LE87 2BB
INVESTMENT MANAGERS
Stonehage Fleming Investment Management Limited 15 Suffolk Street London SW1Y 4HG
BERNARD LEWIS FAMILY CHARITABLE TRUST
for the year ended 31 December 2024
_______________
Contents
Page
| 2 | Trustees' annual report |
|---|---|
| 5 | |
| financial statements | |
| 6 | Independent auditor s report to the Trustees of the Bernard Lewis Family Charitable Trust |
| 9 | Statement of financial activities |
| 10 | Statement of financial position |
| 11 | Statement of cash flows |
| 12 | Notes forming part of the financial statements |
1
BERNARD LEWIS FAMILY CHARITABLE TRUST
for the year ended 31 December 2024
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The trustees present their report and financial statements of the charity for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the accounts 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.
Structure, governance and management
registered charity, number 1125035 and is constituted by a Deed of Trust dated 12 June 2008.
The Trust does not invite donations from members of the general public.
The Trust achieves its objectives mainly by making grants to other charitable institutions and deserving causes.
New trustees are appointed by the settlor of the Trust, Bernard Lewis, during his lifetime, and thereafter by unanimous approval of the trustees. On appointment of the new trustees, one of the existing trustees explains to the new trustee the decision-making process of the Trust and provides an overview of the administrative procedures employed by the Trust.
investments and grant making. The administration of grants and the processing and handling of applications is carried out by employees of Lewis Trust Group Limited and River Island Clothing Co. Limited. The services provided by these employees are included in the Trust as a gift in kind. The Trust has only one paid employee.
Trustees
The trustees listed below held office during the year and to the date of this report:
Bernard Lewis Caroline Grainge Clive Lewis Leonard Lewis
Objectives and activities
they own together with other members of the Lewis Family.
Income and capital of the Trust is to be used, in whole or part, exclusively for the benefit of charitable purposes at the discretion of the trustees.
The trustees have referred to the Charity Commission's guidance on Public Benefit with due regard when reviewing the type of activities the Trust should undertake. The Trust aims to provide support for a range of charitable causes in the public benefit, including in the areas described in the Achievements and performance section below.
The legally permitted objectives are wide and cover generally accepted charitable objectives.
Grant making policy
The main areas the Trust funds are child health, child development and disability, mental health, racial equity, displaced people, education and the Jewish community. But new areas are considered regularly. The Trust has established its grant making policy to achieve its objectives for the public benefit. Various charities submit their request for consideration of a grant to the Trust and decisions of approval of grants are made at trustee meetings, with s aims and objectives. Grants provided may be single payments, or for 2/3 years. A large number of grants are unrestricted, whilst some are restricted to specific programmes or areas of medical research to ensure that funds are best targeted to meet the charitable objectives of the Trust.
2
BERNARD LEWIS FAMILY CHARITABLE TRUST
for the year ended 31 December 2024 (continued)
_______________
Achievements and performance
The main charitable activities funded by the Trust by way of grants and activities undertaken directly (including allocated support costs and governance costs) during the year are:
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£413,144 for medical general support;
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£665,323 for child and social care;
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£51,643 for support for the elderly;
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£63,521 for educational support;
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£263,483 for Jewish community support; and
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£1,162,864 for general funding.
The list of grants provided during the year is included in the analysis of charitable activities (Note 4).
The objectives of beneficiaries of the grants are in line with the objectives of the Trust. The amount of donation received from Lewis Trust Group Limited is expected to vary from year to year.
Financial review
activities are shown on page 9 of these financial statements.
on donation income from Lewis Trust Group Limited and investment income from investments held by the charity via Stonehage Fleming Investment Management Limited. The net income during the year ended 31 December 2024 was £1,750,685 (2023: £314,278) comprising of total income of £4,195,277 (2023: £6,221,467) and total expenditure, including any net losses or gains on investment, of £2,444,592 (2023: £5,907,189). Expenditure on charitable activities amounted to £2,619,978 (2023: £6,141,355).
Donations of £4,015,000 (2023: £6,015,000) were received from Lewis Trust Group Limited during the year. Lewis Trust Group Limited is a subsidiary of LFH International Limited, a company in which the Trustees hold directorships and financial interests. The remainder of the income arises from investments.
The statement of financial position shows the funds of the Trust which comprises of investments in fixed and variable interest securities and bank balances, both of which generates income for the Trust. The policy of the Trust is to maintain cash at bank at a level that is adequate to cover grants payable and operating expenditure. Return on investments for the year was in line with expectations.
The fund balance as at 31 December 2024 was £6,651,036 (2023: £4,900,351) and consisted primarily of cash at bank and investments in securities. The Trustees will continue to use these funds to meet the objectives of the Trust. At the balance sheet date, the Trust has net assets of £6,651,036 (2023: £4,900,351), including net current assets of £3,085,676 (2023: £575,654). The annual spend of the Trust is within the control of the Trustees and awards could be reduced or stopped if required. The Trustees consider that the Trust has more than adequate financial resources to continue in operation for at least twelve months following the issue of these financial statements and as such that the going concern basis of preparation continues to remain appropriate.
Investment policy
The investment policy aims to achieve long term capital growth while maintaining reasonable liquidity, thereby enabling the Trustees to meet their objectives in respect of the requirements of the Trust.
The Trustees require their investment manager to pay attention to the standard investment criteria, namely the suitability of the class of investment and the need for diversification insofar as appropriate to the circumstances of the Trust. Any restrictions on the type of investments or markets in which the manager may invest on the Trust behalf will be given in writing.
Investment restrictions
The Trust may not invest in any alternative investments.
3
Docusign Envelope ID: 99C278F D-5607-4DE0-8DAB-8E1EE12E5019
BERNARD LEWIS FAMILY CHARITABLE TRUST
for the year ended 31 December 2024 (continued)
_______________
Investment performance
Return on investments for the year was in line with expectations and the capital value of the portfolio continued to grow.
Plans for future periods
The Trust has an adequate fund balance to meet its commitments for the following year. The Trustees intend to increase grants steadily over the next few years. Reserves are set to cover the commitments made and operating costs for the period of committed grants, assuming no further income is received. The Trustees intend to maintain reserves levels.
The investments are reviewed regularly with a view to maintain the income level without unacceptable investment risk.
Risks and principal uncertainties
Risk management
The primary risks faced by the Trust are performance of investments and capacity of the Trust to make effective grants. The major financial risks of the Trust are the uncertainty of the annual donation from Lewis Trust Group Limited and the variability of investment returns.
The Trustees regularly hold discussions to consider and agree action plans to manage and mitigate the risks relating to income and the value and nature of its investments. Professional advice with regards to investments is sought from Stonehage Fleming Investment Management Limited.
Reserves Policy
Given the expected fluctuations in donations received and investment income, the Trust’s policy is to retain a sufficient level of funds as a measure of continuity in supporting the charitable bodies, to which grants are given.
The value of funds held by the Trust for the financial year is £6,651,036 (2023: £4,900,351). This level of funds enables the Trustees to achieve the aims and objectives of the Trust without being wholly reliant on the receipt of future donations.
Reserves are set to cover the commitments made and operating costs for the period of committed grants, assuming no further income is received. The Trustees intend to maintain reserves levels.
[2 ........................................... F3008A0CCDBS4DE...4. Clive Lewis - Trustee
Seymour Mews House 26-27 Seymour Mews London W1H 6BN
Date:
4
BERNARD LEWIS FAMILY CHARITABLE TRUST
REPORT AND THE FINANCIAL STATEMENTS for the year ended 31 December 2024
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The Trustees are responsible for preparing the Annual report and the financial statements in accordance with applicable law and regulations.
Charity law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards and the Statement of Recommended Practice have been followed, subject to any material departures disclosed and explained in the financial statements;
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state whether the financial statements comply with the trust deed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the 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. 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. The Trustees who held office at the date of approval of this report confirm that, so far as they are aware, there is no relevant audit informat
Trustee has taken all the steps that they ought to have taken to make themselves aware of any relevant audit
5
BERNARD LEWIS FAMILY CHARITABLE TRUST
INDEPENDENT AUDITORS REPORT TO TRUSTEES OF BERNARD LEWIS FAMILY CHARTABLE TRUST for the year ended 31 December 2024
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Opinion
We have audited the financial statements of Bernard Lewis Family Charitable Trust (the 'charity') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, Statement of Financial Position, Statement of Cash Flows and notes to the financial statements, 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 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
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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 Auditors' 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 UK, including the FRC'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.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
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.
In connection with our audit of the financial statements, 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 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.
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BERNARD LEWIS FAMILY CHARITABLE TRUST
INDEPENDENT AUDITORS REPORT TO TRUSTEES OF BERNARD LEWIS FAMILY CHARTABLE TRUST for the year ended 31 December 2024
_____________
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:
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the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, 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.
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 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 a Report of the Independent Auditors 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:
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We obtained an understanding of the legal and regulatory frameworks that are applicable to the Charity and determined that the most significant are the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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We understood how the Charity is complying with those frameworks via communication with those charged with governance, together with the review of the Charity's documented policies and procedures.
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We assessed the susceptibility of the Charity's financial statements to material misstatement, including how fraud might occur by considering the key risks impacting the financial statements. These included risks associated with Revenue Recognition and Management override of Controls, which were discussed and agreed by the audit team
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Our approach included agreeing the charity's recognition of income to underlying support, the review of journal entries processed in the accounting records and the investigation of significant and unusual transactions identified from our review of the accounting records.
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Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved review of the reporting to the directors with respect to the application of the documented policies and procedures and review of the financial statements to ensure compliance with the reporting requirements of the Charity.
7
Docusign Envelope ID: 99C278FD-5607-4DE0-8DAB-8E1EE12E5019
BERNARD LEWIS FAMILY CHARITABLE TRUST
INDEPENDENT AUDITORS REPORT TO TRUSTEES OF BERNARD LEWIS FAMILY CHARTABLE TRUST for the year ended 31 December 2024
_____________
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 Report of the Independent Auditors.
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 auditors' 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 the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Knox Cropper LLP Chartered Accountants and Statutory Auditors 65 Leadenhall Street London EC3A 2AD
Date: 20/10/2025
8
BERNARD LEWIS FAMILY CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2024
__________________
| 2024 | 2023 | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| Funds | Funds | ||
| Note | £ | £ | |
| Income from: | |||
| Donations | 2 | 4,015,000 | 6,025,000 |
| Investment income | 3 | 180,277 | 196,467 |
| Total | 4,195,277 | 6,221,467 | |
| Expenditure on: | |||
| Charitable activities | 4 | (2,619,978) | (6,141,355) |
| Total | (2,619,978) | (6,141,355) | |
| Net gains on investments | 6 | 175,386 | 234,166 |
| Net income | 1,750,685 | 314,278 | |
| Reconciliation of funds: | |||
| Total funds brought forward | 4,900,351 | 4,586,073 | |
| Total funds carried forward | 6,651,036 | 4,900,351 |
All amounts relate to continuing operations. All funds are unrestricted.
All gains and losses recognised in the year are included in the Statement of Financial Activities.
The notes on pages 12 to 20 form part of these financial statements.
9
Docusign Envelope ID: 99C278F D-5607-4DE0-8DAB-8E1EE12E5019
BERNARD LEWIS FAMILY CHARITABLE TRUST
STATEMENT OF FINANCIAL POSITION as at 31 December 2024
_______________
| Note | 2024 | 2023 | |||
|---|---|---|---|---|---|
| Fixed assets | £ | £ | £ | £ | |
| Fixed and variable interest securities | 6 | 4,502,235 | 5,399,447 | ||
| Current assets | |||||
| Other debtors | 7 | 8,605 | 13,079 | ||
| Investments (bank deposit accounts) | 4,077,460 | 2,584,420 | |||
| Cash at bank | 318,954 | 771,080 | |||
| 4,405,019 | 3,368,579 | ||||
| Creditors: Amounts falling due | |||||
| within one year | 8 (1,319,343) | 8 (1,319,343) | (2,792,925) | ||
| Net current assets | 3,085,676 | 575,654 | |||
| 7,587,911 | 5,975,101 | ||||
| Creditors: Amounts falling due | |||||
| after more than one year | |||||
| Grants payable | 9 | (936,875) | (1,074,750) | ||
| Net assets | 6,651,036 | 4,900,351 | |||
| Income funds | |||||
| Unrestricted funds | 6,651,036 | 4,900,351 |
The notes on pages 12 to 20 form part of these financial statements.
The financial statements were approved by the trustees and authorised for issue on
Clive Lewis Trustee
10
BERNARD LEWIS FAMILY CHARITABLE TRUST
STATEMENT OF CASH FLOWS as at 31 December 2024
_______________
| 2024 | 2023 | ||
|---|---|---|---|
| Note | Total funds | Total funds | |
| £ | £ | ||
| Net cash (used in)/provided by operating activities | 11 | (216,437) | 1,213,763 |
| Cash flows from investing activities: | |||
| Dividends and interests from investments | 184,753 | 203,406 | |
| Purchase of investments | (733,442) | (556,477) | |
| Proceeds from sale of investments | 1,806,040 | 540,140 | |
| Net cash used in investing activities | 1,257,351 | 187,069 | |
| Change in cash and cash equivalents in the year | 1,040,914 | 1,400,832 | |
| Cash and cash equivalents at the beginning of the year | 3,355,500 | 1,954,668 | |
| Cash and cash equivalents at the end of the year | 12/13 | 4,396,414 | 3,355,500 |
The notes on pages 12 to 20 form part of these financial statements.
11
BERNARD LEWIS FAMILY CHARITABLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS for the year ended 31 December 2024
_______________
1. Accounting policies
The following accounting policies have been applied in preparing the financial statements.
Basis of preparation and assessment of going concern
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 Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011.
The Trust constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties impacting the T concern. The most significant areas of judgement and key assumptions that affect items in the accounts are to do with estimating the liability from multi-year grant commitments. With respect to the next reporting period, the most significant areas of uncertainty that affect the carrying value of assets held by the trust are the level of investment return and the performance of investment markets.
At the balance sheet date, the Trust has net assets £6,651,036 (2023: £4,900,351), including net current assets of £3,085,676 (2023: £575,654). The annual spend of the Trust is within the control of the Trustees and awards could be reduced or stopped if required. The Trustees consider that the Trust has more than adequate financial resources to continue in operation for at least twelve months following the issue of these financial statements and as such that the going concern basis of preparation continues to remain appropriate.
Income recognition
Donation income is accounted for when 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. Interest on investments is accounted for on a receivable basis.
Donated services and facilities
Gifts in kind are included as income and expenditure to the extent that a commercial value can be placed on such gifts.
Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.
Fixed asset investments
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing market mid-price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
Other debtors
Other debtors are interest income which is recognised on an accrual basis.
12
BERNARD LEWIS FAMILY CHARITABLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)
______________
1. Accounting policies (continued)
Cash and cash equivalents
Cash and cash equivalents comprise cash balances and call deposits.
Creditors
Creditors falling due within one year and after more than one year include grants payable payments made to third parties in furtherance of the charitable objectives of the Trust. In the case of the unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the one-year or multi-year grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the Trust.
Funds accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Unrestricted funds include a revaluation reserve representing the restatement of investment assets at market values.
2. Donations Received
All donations received relate to unrestricted funds.
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Voluntary donation Lewis Trust Group Limited |
4,000,000 | 6,000,000 |
| Donated services and facilities: | ||
| Lewis Trust Group Limited and River Island Clothing Co. Limited | 15,000 | 15,000 |
| G3: Social Impact Partners | - | 10,000 |
| 4,015,000 | 6,025,000 |
3. Investment income
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Bank interest | 61,955 | 71,209 |
| Fixed and variable interest securities | 118,322 | 125,258 |
| 180,277 | 196,467 |
4. Charitable activities
| Summary by Activity | 2024 Support |
2024 Support |
||
|---|---|---|---|---|
| costs | ||||
| Activities | and | Total | ||
| Grants | undertaken | governance | Charitable | |
| awarded | directly | costs | activities | |
| £ | £ | £ | £ | |
| Child and social care | 644,155 | - | 21,168 | 665,323 |
| Medical general support | 400,000 | - | 13,144 | 413,144 |
| General funding | 1,079,270 | 48,127 | 35,467 | 1,162,864 |
| Support for the elderly | 50,000 | - | 1,643 | 51,643 |
| Jewish community support | 255,100 | - | 8,383 | 263,483 |
| Educational funding | 61,500 | - | 2,021 | 63,521 |
| 2,490,025 | 48,127 | 81,826 | 2,619,978 |
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BERNARD LEWIS FAMILY CHARITABLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)
______________
4. Charitable activities (continued)
| Summary by Activity | 2023 Support |
2023 Support |
||
|---|---|---|---|---|
| costs | ||||
| Activities | and | Total | ||
| Grants | undertaken | governance | Charitable | |
| awarded | directly | costs | activities | |
| £ | £ | £ | £ | |
| Child and social care | 45,220 | - | 836 | 46,056 |
| Medical general support | 748,375 | - | 13,837 | 762,212 |
| General funding | 2,602,600 | 87,258 | 48,119 | 2,737,977 |
| Support for the elderly | 50,000 | - | 924 | 50,924 |
| Jewish community support | 238,000 | - | 4,400 | 242,400 |
| Educational funding | 2,260,000 | - | 41,786 | 2,301,786 |
| 5,944,195 | 87,258 | 109,902 | 6,141,355 |
The charity undertook direct charitable activities and awarded grants to a number of institutions in furtherance of its charitable activities.
Details of each activity are as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Child and social care | ||
| Newlife the Charity for Disabled Children | 524,155 | 220 |
| NSPCC | - | 25,000 |
| The Professional Teaching Institute | - | 20,000 |
| Lane End Primary School | 30,000 | - |
| Marlow Opportunity Playgroup | 90,000 | - |
| Allocated support costs and governance costs | 21,168 | 836 |
| 665,323 | 46,056 | |
| Medical general support | ||
| Epilepsy Action | 225,000 | 120,000 |
| Hope for Paediatric Epilepsy - London | - | 35,000 |
| Meath Epilepsy | - | 25,000 |
| Myaware | 5,000 | 5,000 |
| One More City | - | 250 |
| SUDEP Action | - | 120,000 |
| Young Epilepsy | 170,000 | 443,125 |
| Allocated support costs and governance costs | 13,144 | 13,837 |
| 413,144 | 762,212 | |
| Educational funding | ||
| Foundation for Change | - | 18,000 |
| Iridescent Films | - | 5,000 |
| Kings College London | - | 1,140,000 |
| Slade School of Fine Art | - | 78,000 |
| The Pears Maudsley Centre for Children and Young People | - | 1,000,000 |
| Union of Jewish Students | 50,000 | - |
| University of Durham | - | 14,000 |
| Will Houghton Foundation | - | 5,000 |
| Magic Lantern | 11,500 | - |
| Allocated support costs and governance costs | 2,021 | 41,786 |
| 63,521 | 2,301,786 |
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BERNARD LEWIS FAMILY CHARITABLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)
______________
4. Charitable activities (continued)
Details of each activity are as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Jewish community support | ||
| Community Security Trust (CST) | 50,000 | 50,000 |
| Jewish Blind & Disabled | - | 10,000 |
| Maidenhead Synagogue | 17,600 | - |
| Jewish Deaf Association | 10,000 | 10,000 |
| Jewish Leadership Council | 25,000 | 25,000 |
| Magen David Adom | 10,000 | 30,000 |
| Norwood | - | 50,000 |
| Westminster Synagogue | 30,000 | 13,000 |
| World Jewish Relief | 50,000 | 50,000 |
| Yad Vashem | 2,500 | - |
| Central British Fund for World Jewish Relief | 50,000 | - |
| Jewish Blind and Disabled | 10,000 | - |
| Allocated support costs and governance costs | 8,383 | 4,400 |
| 263,483 | 242,400 |
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BERNARD LEWIS FAMILY CHARITABLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)
4. Charitable activities (continued)
Details of each activity are as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| General funding | ||
| Breaking Barriers | - | 120,000 |
| Choose Love | - | 10,000 |
| Compassion in Dying | - | 400,000 |
| Dignity in Dying | - | 700,000 |
| European Lawyers in Lesvos | - | 15,000 |
| For Refugees | - | 20,000 |
| Greenaway Foundation | 50,000 | 50,000 |
| Grief Encounter | - | 45,000 |
| Hoxton Gardenware | - | 50,000 |
| Magic Bus UK | - | 300,000 |
| Maternal Mental Health Alliance | - | 189,000 |
| Mr and Mrs C and S Brown | - | 12,600 |
| Off Ploy | - | 16,000 |
| Open Arms | 10,000 | 10,000 |
| Partisan Community CIC | 10,000 | 16,000 |
| Power the Fight | 129,000 | 13,000 |
| Prison Reform Trust | 225,000 | 20,000 |
| Project 507 | - | 80,000 |
| Refugee Action | - | 225,000 |
| Sea-Changers | - | 61,000 |
| Spark Inside | 185,000 | 185,000 |
| Switch Back | - | 30,000 |
| The Henry Jackson Society | 25,000 | 25,000 |
| TimeGivers | 150,000 | 10,000 |
| Autistica | 50,000 | - |
| Apogee Foundation | 270 | - |
| Doing What Really Matters (DWRM) | 50,000 | - |
| Wildteam Conservation | 195,000 | - |
| Activities undertaken directly: Kairos+ | 48,127 | 87,258 |
| Allocated support costs and governance costs | 35,467 | 48,119 |
| 1,162,864 | 2,737,977 | |
| Support for the elderly | ||
| Jewish Care | 50,000 | 50,000 |
| Allocated support costs and governance costs | 1,643 | 924 |
| 51,643 | 50,924 |
16
BERNARD LEWIS FAMILY CHARITABLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)
4. Charitable activities (continued)
Support costs and governance costs comprise:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| General support costs | ||
| Administrative support | 15,000 | 15,154 |
| Auditor s remuneration - audit fees |
12,852 | 12,240 |
| Employee Salary | 47,290 | 58,009 |
| Consultancy Fees | - | 4,850 |
| Non-capital IT costs | 2,107 | 7,789 |
| Other | 586 | 3,537 |
| Investment management fees | 3,991 | 8,654 |
| Exchange rate variance | - | (331) |
| 81,825 | 109,902 |
Support costs and governance costs have been attributed to charitable activities and where these are not related to specific projects, they have been apportioned pro-rata to grants payable based on the scale of grants awarded.
5.
No fees were paid to the trustees during the current or preceding year.
Administrative support, including staff time, is provided to the Trust by the Lewis Trust Group Limited and River Island Clothing Co. Limited. In accordance with the Statement of Recommended Practice for charities, an estimate is made for such services which amounts to £15,000 (2023: £15,000) for the year and is included in the statement of financial activities as donations receivable from Lewis Trust Group Limited and River Island Clothing Co. Limited (Note 2), with a matching expense included in support costs (Note 4).
The average number of persons employed by the Trust during the year amounted to 1 (2023: 1). The payroll costs incurred during the year were as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 41,184 | 50,922 |
| Social security costs | 4,998 | 5,772 |
| Defined contribution pension costs | 1,108 | 1,315 |
| Total | 47,290 | 58,009 |
The number of persons employed by the Trust at year end amounted to nil (2023:1).
17
BERNARD LEWIS FAMILY CHARITABLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)
6. Fixed asset investments
| 2024 Fixed and |
|||
|---|---|---|---|
| variable | |||
| interest | |||
| OEICs | security | Total | |
| £ | £ | £ | |
| Market value at the beginning of the year | 3,841,225 | 1,558,222 | 5,399,447 |
| Additions | - | 733,442 | 733,442 |
| Disposal proceeds | (127,087) | (1,678,953) | (1,806,040) |
| Realised profit/(loss) on disposals | (64) | (28,743) | (28,807) |
| Unrealised profit/(loss) during the year | 214,437 | (10,244) | 204,193 |
| Market value at the year end | 3,928,511 | 573,724 | 4,502,235 |
| Historic cost at the year end | 4,007,893 | 583,968 | 4,591,831 |
| 2023 Fixed and |
|||
|---|---|---|---|
| variable | |||
| interest | |||
| OEICs | security | Total | |
| £ | £ | £ | |
| Market value at the beginning of the year | 4,223,047 | 925,894 | 5,148,941 |
| Additions | - | 556,477 | 556,477 |
| Disposal proceeds | (540,140) | - | (540,140) |
| Realised profit/(loss) on disposals | (2,466) | - | (2,466) |
| Unrealised loss during the year | 160,784 | 75,851 | 236,635 |
| Market value at the year end | 3,841,225 | 1,558,222 | 5,399,447 |
| Historic cost at the year end | 4,135,057 | 1,534,184 | 5,669,241 |
Individual investments held at the year end, which are over 5% of the portfolio by market value are:
| 2024 | 2023 | |
|---|---|---|
| BlueBay Global Investment Grade Corporate Bond Fund | £ 389,132 |
£ 389,420 |
| iShares GBP Corp Bond 0-5YR UCITS ETF | 383,395 | 381,330 |
| PIMCO Funds Global Investors Series Plc - Income Fund HI GBP P | 308,845 | 312,603 |
| Stonehage Fleming Global Equities Fund I Class A | 2,175,413 | 1,946,002 |
| UK Treasury 1.25% 22/11/2027 RPI Index Linked | - | 341,447 |
| UK Treasury 1.5% 22/07/2026 | - | 294,086 |
| Vanguard Global Aggregate Bond UCITS Class Hedged Dist | 268,396 | 270,015 |
| UK Treasury 0.5% 31/01/2029 | - | 556,494 |
| UK Treasury Gilt 0.625% 31/07/2035 | 286,857 | - |
| UK Inflation-Linked Gilt 0.125% 10/08/2031 | 286,867 | - |
18
BERNARD LEWIS FAMILY CHARITABLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)
7. Other debtors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Accrued interest | 1,640 | 6,779 |
| Accrued dividend | 6,965 | 6,300 |
| 8,605 | 13,079 | |
| Creditors: amounts falling due within one year | ||
| 2024 | 2023 | |
| £ | £ | |
| Grants payable | 1,230,875 | 2,686,375 |
| Accruals | 88,468 | 106,550 |
| 1,319,343 | 2,792,925 |
8. Creditors: amounts falling due within one year
9. Creditors: amounts falling due after more than one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Grants payable | 936,875 | 1,074,750 |
10. Related party transactions
The charity had one employee; salary costs are disclosed in Note 5. The employee was a close family member of a Trustee.
11. Reconciliation of net income/(expenditure) to net cash flow from operating activities
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Net income for the year | ||
| as per the statement of financial activities | 1,750,685 | 314,278 |
| Adjustments for: | ||
| Dividends and interests from investment | (180,277) | (196,467) |
| Gains on investments | (175,386) | (234,166) |
| Decrease in prepayments | - | 500 |
| Decrease in creditors | (1,611,459) | 1,329,618 |
| Net cash (used in)/provided by operating activities | (216,437) | 1,213,763 |
19
BERNARD LEWIS FAMILY CHARITABLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)
12. Analysis of cash and cash equivalents
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Investments (bank deposit accounts) | 4,077,460 | 2,584,420 |
| Cash in hand | 318,954 | 771,080 |
| Total cash and cash equivalents | 4,396,414 | 3,355,500 |
13. Analysis of changes in net debt
| At 1 Jan | Cash flows | At 31 Dec | |
|---|---|---|---|
| 2024 | 2024 | ||
| £ | £ | £ | |
| Cash at bank and in hand | 3,355,500 | 1,040,914 | 4,396,414 |
| 3,355,500 | 1,040.914 | 4,396,414 |
20