Charlty rngl•tratSon number 1160650 ompany rnglshtlon nufflber 08318846 {Engl•Dd •nd Wal••l FOUR DAUGHTERS CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
FOUR DAUGHTERS CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Thts• R Mond K Mond H Mond G Mond 8•cr•tsry E Mond Charfty numb•r 11S0550 Cony•ny numb•r 08318846 Prfnclp•l •ddv• 15 Eton G8rd&n$ Lhmbolle Plac London Nwd 4PE R•gl•t•rnd offl¢• 15 Elon Gardens L8mbolle Pla London NW3 4PE Ind•p•nd•nt •xmln•r G Z&ld•man FCA F M C 8 Chartered AcC(nI1nt1 H4lh8way Housa Popefj Drlv• FlnchFey London N3 1QF Inv••bnont advl•or• UBS 5 Bro8dgal• EC2M 2QS
FOUR DAUGHTERS CHARITABLE TRUST CONTENTS Pag• Trustees, roport Indgpendenl exann•t& report Sl•tsm•nt of flnAndAI aGl¥lUe8 Note8 to the fln•ndsl tments
FOUR DAUGHTERS CHARITABLE TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORn FOR THE YEAR ENDED 31 DECEMBER 2023 The trust••8 psent their annual report and finanaal statemenls for the year ended 31 December 2023. The accounts have baan prapared In accordance wth th8 aecounlng policies sel out in note 1 to the aCunts and comply wilh the charitys Artides of Assoallon, the Companies Act 2006 and "Accounting and Reporting by Charitles.. Stslemenl of Re¢omm&nded Practlce appllcable lo charftieB preparing their accounts in accordance wilh the Financial Rèporting Standard applicable in the UK and Republic of Iraland {FRS 102} las amended for accounting periods commencAng from 1 January 20191 Obj•etlv•• And •ctlYltl•• The charity ¥sts lo make gT8nl8 and 18 able lo pro¥bde grants to varlous organlsauons and Indlvldual8 Ihroughout England and Wal83.18rael and the United SIAles ofAmerI. The charity has begn Set up for g•nar81 Charttable purposes bul does 8peclfically Indude granlB for the purpose of education and Iralnlng, health, thè di8abled and poverty. Grnn18 are pald al the discretion of the IruBlee8. The activ6 of the eharity arn for the public benefit. By achl•vlng 118 obj•¥•1 lh• charlly aims lo bgnefft communitle8. The Irustèas hAve peld due regard to guldance IBiued by Ihe Charity Commission In deading what actknlie8 th8 charfty should undertake. Achl•vem•nts and p•rfomi•n¢• In th• y&8r the charity made five grants tolalling £87,50012022.' grgnls toto11ing £182.5). Fln•n¢l•l f•vI•w In the year the Char had InrnIng ro¥ourc•s of £277,297 12022.. £305,22n, expended resourc•s 01 £108,697 12022.. £178,467), and net gain5 on inv•stm8nl8 of £185,78812022.'1088e8 of £2S5,8141, le8vSng a surplus for th8 year of £336.368 12022.. d•flcrt of £129.0541. Resource8 expended for chart8t4e purpo888 wère £87,500 12022.. £162,500). Al thè year end th8 charlty had unr•slrlct•d r•sarve8 of £2,487.091 12022.. £2,145,775). Th• trust8as revlew the re5erv83 of the charity from tlm8 lo Ilmg 18klng into 8ccounl likèly future fundlng and commitments both known And potentl81. Th8 grants p8kl by the charty are dèlèmilned by its reseNes and level of funding. Th• charbt8 lund8 Ire held Mth its investment mJnaget3 as inve•lmenls and cash balonrAs. Plan• for futurn p•rlod• The charity's plan8 for the future are lo contlnue to pay grants to In8thullon8 who 88168fy the r•qulremenl8 lald dv•m by the truilees. StructUT•. gov•m*nc• and m•naq•m•nt The charity 18 a company limiled by guarantee. Non& of the trustees h96 any benefiual Snteiesl In the mpanY. All f the trust6&5 aro members of the Company and guarantee lo contribute £1 in the event of a wln¢JSng up. The trustee6, who are also th8 dlrgctors for the purpose of company18w, and who 8ervgd durfng tho year ond up to th8 date of signaluro of the financial slal?mgn15 were.. R Mond K Mond H Mond G Mond
FOUR DAUGHTERS CHARITABLE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 The goveming documont of the charity 18 its ArtiGl8$ ofAssoclalk)n. Trustees are appolnled by ordinary resolution or by a slmple majority of truBlee8. Tru8lees are recrurted for their s11 and experionce so that the charty is abl8 to Achieve ils objective8. On appointm8nt tru$lg9s are brlefed on thelr fe8ponsSbllllle8 and duties toward$ Ihg charlty. Other trainlng needs are assessed on an Individual basls. The charlty 18 m8naged by 118 Irusle&8 and derA8ion¥ are arrived at by m8iority deasion. In the event of an equality of volas th• ¢haSmian of the me•tlng wlll have Ihg casllnq vote. Meen98 are held when the charity has busineBS to discus$. Th• trustee8 hav8 988088gd the major risk8 lo whlth the tharKy1s exposed, and are 8allBfled that SyBlemB are In place to rnitigale exposure lo the major risk$.The tru81••8 nsIder that the charity face5 rlskB In the area8 of govemance. opeialion8 and finance. The charity en8ure• th81 Its organi2811onal structure its appropriat8 And that the Ir118t808 hav• th• rtlevanl S111. The tru¥lees wlll only approve gran15 Ihal will be used by the recipients in accordance wllh the objectiV86 of the charfty. The Iru8188¥ will make appropriate enqulries of potenllal recipients an(1 olso ask reupients who hov8 r•c•lved grants lo acco¢Jnl for the monle¥ that they have recebv8d. The tru8tge8 wlll ensure that thèy wlll not make commllmen18 that tho charfty wlll bo un8tle lo fuNi. Al the year ond the charily had InveutmenlB of £2,132,547 (2022.. £1,842,361). The tru$1008 lJ8• Inv•8tm•nl adw$w810 ensure these Inv88lmenl8 8r8 8ultgbty Inve8led 80 that cap1181 will be avallable In futur8 lo the fund the ¢h8rity'8 actiwlies. Statsm•nt of tru•l•••' r••pon•lbllltl The Irusl888, who are also the dlrectors of Four D8ughler8 CharfIab Tfust for thé purpose of compBny law. are responslble for preparing tha Trustees, Report and tha accounts In accordance wllh applicable law and Unltod Klngdom Accounting Slandardg Iunlled Klngdom Generally Ac¢epted Aocountlng Practlcel. Comp8ny Law rUireS the trustee8 to pr8p8ra a¢couni8 for e8¢h ffinancial year whlch glv8 a true and fair of Ihg $18te of affalrs of the charitable comp8ny 8nd of the Incomlng resources and applicauon of r•Sour8. Includlng th• Income and exp8nditura. of tha charitable company for Ihal year. In preparlng Iheso accounts, the Iru8lee8 are requlr8d to.. selecl sultable accounting pollcl8s and Ih&n apply them consl8lèndy; - observa th• methods and prlnclple8 in the Chariti98 SORP.. - make Judgements and estimates thAt aT& reasonable and prudent.. slate whether appllcabl6 UK Accounlino Standards hove been followed, sublecl to any matorlal departur disclosad arKI explained in the accounts.. and pieparè th8 accounts on the goirwJ concern ba818 unloBS It is Snappropriale to presurne Ihgt ihe chgrlty wSll continue in operation. The trustees ara responsible for koeplng adequate accounting record8 that disdosè wilh reasonable accuracy 41 any time the finana81 position ol the ¢h8ri1able company and enable Ihem to ensure that the accounts Gompty with the Companios Act 2006. They are a180 responslble for safeguarding the assets of the charitable company and hence for takin9 reasonable steps for the prevention and deledion of fraud and other Irregularitlgs.
FOUR DAUGHTERS CHARITABLE TRUST TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The InJGtees' report was approved by the 80grd of Truste08. H Mond Dale.. 20 SEflEMW 20Jfy
FOUR DAUGHTERS CHARtrABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FOUR DAUGHTERS CHARITABLE TRUST I report lo Ihe Iruste8s on my examinatson of the financ4al stalern•n18 of Four Daughters Charita• Trust (Ih harityl for 1he year ended 31 December 2023. R•8pon•lblllll•• and basis of r•port As th& Iruslotrs of the charity land al80 ils dii•ctors for the PUTpo$es of ¢ompany law) you are responsible for the preparation of the financial slatemenl¥ in accfjrdarbce wSlh the requlrements ol the Companltts Act 2006 (the 2006 Act). Havlng 88118fied my3ell that the financial slatem8nts of the charrty are not required to be 8udiled undaf P8rt 16 of the 2008 Act and are eligibla for ind&pendenl examlnallon, I report In respect Df my examlnallon of Ihg charitls finanaal statements carried out under section 145 of the Charities Act 2011 (the 2011 Acll. In carrying out rny gxamlnallon I have followed the applicable DlrectionB given by Ihg Charity Commi$81on under section 145{51{bl of th8 2011 Act. Ind•p•nd•nt •Mmlnotr• •tat•m•nt Slnco tho charl1$ gro88 Sncome exceeded £250,000 your examiner mu8t be 8 member of 8 body118lad In 8e¢Xlon 145 of tho 2011 Act. I conffirm that l arn qualified lo undertake the examination because l am a mernber of the In8111ulè of Chartered Accounl8nls in EngLqnd and Wal&s, which is on8 of th8 lisl8d bodias. I havg ¢omplel•d my examlnalion. I confirm that no rnatterB have o)m& lo my ollenuon In connection wlth the examlnallon gIng me cause lo bellgve that in any malerigl respect.. accounting record8 were not kept in respect of the charity A8 roqulred by section 386 of the 2006 Act.. the fin8ncial 81alern8nls do not accord with those records.. or the financial Slalemenls do nol comply wilh tha accounting requiremen15 of s8ctlon 396 of the 2006 Acl othèr Ih8n any requlremenl that the account8 giva g tru• and fail vlow which 18 not a matter considered a8 Part of an Independent examlnallon., or the flnanc181 $1818men18 have not been Prepared In accordance wlth the method8 and prindple6 01 the Stslemenl of Recomrnended Practice for accounlSng and reportlng by charlties applicable lo charities prepartng Ihelr accounts In 8ccordanc• wlth the Flnanclol Reportln9 Sl8nd8rd appli¢obl• in th8 UK and Republ* of Iraland IFRS 1021. I have no concerns and have come acroB8 no oth•r matters In connacilon wlth th8 •x8mlnallon to whlch attenuon should be drawn in this report in ordgr to gnable a proper under8landin9 of the flnandal slalemgnls to ba r8ach8d. G Zèld•rnian FCA F M C B Charted Arxountanl8 Hathaway Housg Popes DrSv8 Flnchley London N3 1QF Dated: .. ZS 5ar&M66L 1024
FOUR DAUGHTERS CHARITABLE TRUST STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unr•strlct•d Unr••trletod fund• nd• 2023 2022 Incom• from: Donations and lagacl•i Investments 200.000 77,297 250.000 55.227 Tolal Incom• 277,297 305,227 exp•ndltur• on: Ralsing fund8 Charflable 16.914 89,783 13,818 184,849 Tolal •xp•ndltuM 108,697 178,467 Nel gaIn(loO8$) on InvèBtmonl8 10 1e5.786 (255,814) N•t InGoM•l(•xp•ndlr•> 338,3e6 (129,0541 Oth•r r•¢oqnb••d galn• •nd lo••. Other galns 12 4,9SO 17,453 Il•t mov•m•nt In fund• 341,318 1111,601) R•¢oncll•tlon of lund•: Fund balonc•• a11 January 2023 2,145.775 2,257.37e Fund b•hnc•• •t 31 D•¢•mb•r 2023 2,487,091 2,145,775 Thg St8lement of finanual actIvleS Include8 all galns and108888 racognl8ed In Ihe yèar. All Inci¥ne ond vxpendllure derlva from continuing adiviti•$.
FOUR DAUGHTERS CHARITABLE TRUST BALANCE SHEET ASAT31 DECEMBER 2023 2013 2022 Mots• Flxgd au•ts Inveslmgnt8 1) 2,132.547 1,842,381 Currènl #¥ets Doblors Investm•nls 14 70,993 289,591 170,043 138,B11 360.584 308,864 CY•dltorn: amoun1• llllng du• wlthln ono yr 16 18.040) 15,4401 N•t currnnt 41•0ts 354.544 303.414 Totsl a4•et• IM• currnnt Ilibllm 2,487,091 2,145,775 Tho fund• of th• charfty UnleCled funds 17 2,487,091 2.145.775 2.487,091 2,145,775 The company 18 enlilled to the &xemptlon from the audf( réquiremanl contsined 88Ctlon 477 of the Companles Ad 21)ce, for the year ended 310ecemb&r 2023. Th& dlreciors aGknowledge Ih•lr respon•lbililieB for cofflplng wllh tha raqulremenl8 of the Comp8nl&$ Act 2006 wllh r&spect lo oUntIng record8 and the preparallon of flnanclal 81glemenl8. Th• membw8 have not raquirnd th• compgny to obtaln an audit of ils finanaal 8lalemenl$ for Iho yo8r In quo8llon In accord8nc• with sèctlon 476. Thè8t finana418131gmenl8 have been prepared In accordanc• wfth th• pro¥i8lon8 applICab to mpAnieS subjècl to the small ¢ompani•8 reglme. 20-09- 20• Th61Snanoal #latsmen18 were approved by the trustees on ......................... H Mond Tru8t•• Company roglslr8tlon numbor 08318846 {England ond W8le81
FOUR DAUGHTERS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcle• Ch*rity Inlormatlon Four D8ughter8 Charitable Trust is a private company limited by guarantee Incorporatsd In England and Wales. The regiBler6d offico is 15 Elon Gaiden6, Lambolle Place. London. NW3 4PE. 1.1 Accountlng Conventlon The 8ccounls have prepared In accordance wlh the MpanY'S Article8 ofA88Wation, the Compani88 A¢t 2006 and 'Accounling and R&poitin9 by Charill&s'. Slalemenl of Recornrnended Practlce appllcable lo charities prepadng their accounts in accord8nc& wllh th• Flnand81 Reporting Standard applicable In the UK and Republic of Ireland (FRS 1021. (as 8mend6d for ac¢ounllng perlods commencing from 1 January 20191. The chanty 1$ 8 Publi¢ B•nofrt Entity 88 defined by FRS 102. The charity has tsken advantage of the provtslons In tha SORP for thgrS1185 apptying FRS 102 Updat8 Bull•Un 1 not lo prepare 8 Statement of Cash Flows. The flnandal slalement6 are prepared In slarllng, whlch Is the funcllon41 currency ol the charfty. Monetary amounts In iheBe financial stolements ¥re rounded lo the neareBt £. Th• flnandal i18lem•nlB have bggn prgpared undor th• hlslorfcal cosl conv•nllon, modMl•d to Sndudg th• revaluauon of fixed agsel Inve$lmenl8 al falr value. The pilncipal accounting pollcies adopted are set oui bebw. 1.2 Golng concèrn Al thè 1Sme of appng tha accounts, the ITu8lees hav8 a roasonobl? 8xpectalion that the charfty ha¥ adequ818 resources lo conllnue In op8r8tlonal •xl8tence for the lore8eoable futu. Thus the Iru818o5 conllnue lo adopt the golng conrn bAsl8 of accountlng In Pfeparlng thè a¢nts. 1.3 Charft•bl• fund• Unre81rlcted Incoma fund8 are 8V8Slable for use al the dl3crellon of the IruBlees In furtherance of the general objectives of the charity and which have not been d861gnaled for other purpose6. Al the charity'8 funds are unr•8lrlcted,11 hag no re8trfcted or endowed funds. 1A Incomlng r••ourc Income is recognisod when the ch8rity181ggally enlilled lo ft after any parformance condltions ha been mel, th8 amounis can be meaBured reliably and rt Is probable that income will be received. Investment ino)me 1$ Induded In Ihe account• on the accruals baBi8. 1.5 Ro•our¢•• •xp•nd•d All expenditure is arLounted for on an aCUUAls ba818 and h88 b•8n d888ffled under headlng8 that aggr•galo all costs related to th8 category. ler6 co818 cannot be directly attributed lo particular heading8 they have baan allo¢81od lo activitiès on a basi8 consistent Wbth use of the Tesources. Grants are recognised in Ihg aOnIS once the appllcallon ha8 been approved. 1.6 Flxod aM8t InStment• Fixed asset investments are InitS8lty measured 81 Iran88ction price Includlng Ir8nsa¢tion costs, and are $ubsequentty m8asured al fair value al each ieporting dale. Changes in fair value ar8 recogni8ed In nel kncom•llexpendilure) for the year. 1.7 Ca•h •nd ¢4•h •qulvil•nts ThSs comprf8e8 rJJrrent 888et inve8trnerrts which are cash depo8i18 held by the tharity's investment managers.
FOUR DAUGHTERS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Incom• from donlOn¥ •nd l•gacl lknr••trl¢t•d Unr••trlct4d lund• fund 2023 2022 Donatlon5 and glfts 200,000 2SO,000 Inv••lm•nts Unrn•trlct•d UnrgJlrf¢ted fund• funds 2023 2022 Dlv6dends Interest rgcwvobl• 9.809 67.488 7,057 48.170 77,297 55,227 Exp•ndltur• on v•l•lng fvnd• UnY••trlctsd Unr••trlct•d fund8 lund8 2023 2022 Investment m¥nggement 16,914 13.818 Exp•ndltur• on charft•bl• aetlvlllo• Grnnts •ndlnd•p•ndont donatlon• •xafflln•r 2023 2023 Totsl Grnntj •ndlndepend•nt don•tlon• •xamlnor 2022 2022 Tot1 2023 2022 Dlr•ct to•1• Operallng costs 13 13 89 Grant funding of acti11¥ {88a note 61 87,500 87,500 162,500 182.500 Governance 2,270 2.270 2.080 2.080 87.513 2,270 89.783 102.509 2.080 184,649 An*1# by fund Unrestricted funds 87,513 2,270 89,783 182,569 2.080 184.849
FOUR DAUGHTERS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expendlturn on ch•rltabh actfvNI•• {ContIndI Grnnt• pyabl• Grnnt• and Grnnts and don•tlon• dona¥on• 2023 2022 Grants lo kns11iu0$ls grants): Myi8ra8l Jèw18h Care One lo One Chiklren8 Fundi The Trussell Trust Centr• For EffectiveAMnJl8m Ulla Magen 08vld Adom UK 25,OC4) 12.500 25.000 25,IXhJ 12,500 25,000 50.000 50,000 12,500 12,500 87.500 162.STrJ support ¢o•ts •llocit•d to actlv(ti 2023 2022 Govemance co8tA 2,270 2,080 Anly*•d b•ts¥•en: Independent exgmlner 2,270 2.080 Thi•ts None of the Iru818eJ (or any person connoctod w+th them) recelved any remuner8lion or expenses connection with thelr dutie8 as a truslo? durlng the iw¢ years ended 31 Docember 2023. Employ•e• The average monthty numbor of employ808 during the year was.. 2023 Numb•r 2022 Humbor Tot81 There ware no employeès during th? Iwo ye8r8 ended 31 D8c•mbor 2023. The charity operalas on a voluntsry basis. There We no &mployees whose annual remuner8tSon was rne than £60.000.
FOUR DAUGHTERS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10 G•ln• and on Invo•lm•nts UThre•trictèd Unmtsict•d fund• fund• 2023 2022 Galn81O08BeB} arising on.. Revaluallon of In¥eslmentB Sale of Investm8n18 161.116 4.650 (263,335) 7,521 105,706 125S,814) 11 Tax•tlon Thè thgrmy li 8xempt from laxèllon on It8 arMII¢8 becauue all Its Inenmo18 appll8d for charftable wJrpo88s. 12 Oth•r g•ln• and lo• Unre•tr1Ct Unmtrlctsd fund• fund• 2023 2022 GOIn(lo$s85) upon.. Forelgn exGhangg {4,9SOI {17,453) 13 Flx•d ••••t Inv••tmants Inv••tm•nt portlollo C••h In portlollo Tot*1 Co•t or ¥alu•tlon Al l January 2023 Addltlons Valuation change$ Di8posg18 1,816,829 21S,874 166,086 (79.811} 25,532 1,842,361 217,630 186,060 193,5101 113,899) At 31 Dteefflb8r 2023 2,120.158 12,389 2.132.547 C•rrylng •mount Al 31 December 2023 2,120,1S8 12,389 2,132,S47 Al 31 December 2022 1.816,829 25,532 1,842,361 Th& investment portfolio consists of listed equities and bonds. Th&y h8v& been v8lued al their year end markat value. Th8 historic cost of tha investment portfoliols £1.953,55612022." £1,815,173>. 10-
FOUR DAUGHTERS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 D•blor¥ 2023 2022 Amounts hlllng due wlthln ytrar.. Olhèr debtors 70.993 170.043 15 Currènt a•••t Inv••tm•nt• 2023 2022 Ca8h deposits 289.591 138.811 10 Crndltorn: amounts f•lllnq du• wlthln on• y•ar 2023 2022 Acrxu815 and d•ferrtd incomg 6.040 S,440 17 Unr••trlGt•d fvnds Thg unre8lri¢ted funds of the d)arity compris8 th& unexpended balanc8B of dongllon8 and grnnls whlth are not $ublact lo spodfic condlllon¥ by donoT8 Ond grantors #8 io how they may bg used. Th68e Indude dejignaled fundg whlch have been 8et a•id• out of unreslrfded funds by the Iru81ees for speclflc purpoBe8. At 1 J•nuary 2023 In¢omlng R••ourc•• r••our¢•i •xp•nd•d O•ln• •nd lo•••• At31 D•c•mbor 2023 General fund# 2.145.775 277,297 1106.897) 170,716 2,487.091 Prnvlou• y••r. At 1 Janu•ry 2022 Incomlng R••our¢ v••ourG•• •xp•nd•d Gln• nd Iom At31 D•¢•mb•r 2022 G8n•ral fund8 2,257,376 305,227 1178,46n 1238.3611 2.145,775 18 R•knt•d p*rty trnn•actlon• Ther8 wère no dlsdosable related party tran88Ction8 durfng the year12022- nong}. 11