Charity registration number 1150550 (England and Wales) Company registration number 08318846
FOUR DAUGHTERS CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
FOUR DAUGHTERS CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees R Mond K Mond H Mond G Mond Secretary E Mond Charity number 1150550 Company number 08318846 Principal address 15 Eton Gardens Lambolle Place London NW3 4PE Registered office 15 Eton Gardens Lambolle Place London NW3 4PE Independent examiner G Zeiderman FCA F M C B Chartered Accountants Hathaway House Popes Drive Finchley London N3 1QF
UBS
Investment advisors UBS 5 Broadgate EC2M 2QS
FOUR DAUGHTERS CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 13 |
FOUR DAUGHTERS CHARITABLE TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: 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)” (as amended for accounting periods commencing from 1 January 2019)
Objectives and activities
The charity exists to make grants and is able to provide grants to various organisations and individuals throughout England and Wales, Israel and the United States of America.
The charity has been set up for general charitable purposes but does specifically include grants for the purpose of education and training, health, the disabled and poverty. Grants are paid at the discretion of the trustees.
The activities of the charity are for the public benefit. By achieving its objectives the charity aims to benefit communities.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
In the year the charity made two grants totalling £80,000 (2023: five grants totalling £87,500).
Financial review
In the year the charity had incoming resources of £697,399 (2023: £277,297), expended resources of £104,641 (2023: £106,697), and net gains on investments of £122,301 (2023: £165,766), leaving a surplus for the year of £715,059 (2023: £336,366). Resources expended for charitable purposes were £80,000 (2023: £87,500).
At the year end the charity had unrestricted reserves of £3,198,081 (2023: £2,487,091). The trustees review the reserves of the charity from time to time taking into account likely future funding and commitments both known and potential. The grants paid by the charity are determined by its reserves and level of funding.
The charity's funds are held with its investment managers as investments and cash balances.
Plans for future periods
The charity's plans for the future are to continue to pay grants to institutions who satisfy the requirements laid down by the trustees.
Structure, governance and management
The charity is a company limited by guarantee. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
R Mond K Mond H Mond G Mond
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FOUR DAUGHTERS CHARITABLE TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
The governing document of the charity is its Articles of Association.
Trustees are appointed by ordinary resolution or by a simple majority of trustees. Trustees are recruited for their skill and experience so that the charity is able to achieve its objectives. On appointment trustees are briefed on their responsibilities and duties towards the charity. Other training needs are assessed on an individual basis.
The charity is managed by its trustees and decisions are arrived at by majority decision. In the event of an equality of votes the chairman of the meeting will have the casting vote. Meetings are held when the charity has business to discuss.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.The trustees consider that the charity faces risks in the areas of governance, operations and finance.
The charity ensures that its organisational structure is appropriate and that the trustees have the relevant skills.
The trustees will only approve grants that will be used by the recipients in accordance with the objectives of the charity. The trustees will make appropriate enquiries of potential recipients and also ask recipients who have received grants to account for the monies that they have received.
The trustees will ensure that they will not make commitments that the charity will be unable to fund.
At the year end the charity had investments of £3,144,816 (2023: £2,132,547). The trustees use investment advisors to ensure these investments are suitably invested so that capital will be available in future to the fund the charity's activities.
Statement of trustees' responsibilities
The trustees, who are also the directors of Four Daughters Charitable Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these accounts, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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FOUR DAUGHTERS CHARITABLE TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees' report was approved by the Board of Trustees.
K Mond Trustee
29 September 2025
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FOUR DAUGHTERS CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF FOUR DAUGHTERS CHARITABLE TRUST
I report to the trustees on my examination of the financial statements of Four Daughters Charitable Trust (the charity) for the year ended 31 December 2024.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 financial statements to be reached.
G Zeiderman FCA
F M C B Chartered Accountants Hathaway House Popes Drive Finchley London N3 1QF 30 September 2025
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FOUR DAUGHTERS CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations | 2 | 615,297 | 200,000 |
| Investments | 3 | 82,102 | 77,297 |
| Total income | 697,399 | 277,297 | |
| Expenditure on: | |||
| Raising funds | 4 | 21,191 | 16,914 |
| Charitable activities | 5 | 83,450 | 89,783 |
| Total expenditure | 104,641 | 106,697 | |
| Net gains/(losses) on investments | 10 | 122,301 | 165,766 |
| Net income | 715,059 | 336,366 | |
| Other recognised gains and losses: | |||
| Other gains/(losses) | 12 | (4,069) | 4,950 |
| Net movement in funds | 710,990 | 341,316 | |
| Reconciliation of funds: | |||
| Fund balances at 1 January 2024 | 2,487,091 | 2,145,775 | |
| Fund balances at 31 December 2024 | 3,198,081 | 2,487,091 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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FOUR DAUGHTERS CHARITABLE TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2024
| Notes Fixed assets Investment property 13 Investments 14 Current assets Debtors 15 Investments 16 Creditors: amounts falling due within one year 17 Net current assets Total assets less current liabilities The funds of the charity Unrestricted funds 19 |
2024 £ £ 515,000 2,629,816 3,144,816 51,049 14,096 65,145 (11,880) 53,265 3,198,081 3,198,081 3,198,081 |
2023 £ £ - 2,132,547 2,132,547 70,993 289,591 360,584 (6,040) 354,544 2,487,091 2,487,091 2,487,091 |
2023 £ £ - 2,132,547 2,132,547 70,993 289,591 360,584 (6,040) 354,544 2,487,091 2,487,091 2,487,091 |
|---|---|---|---|
| 2,132,547 354,544 |
|||
| 2,487,091 | |||
| 2,487,091 | |||
| 2,487,091 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 29 September 2025
K Mond Trustee
Company registration number 08318846 (England and Wales)
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FOUR DAUGHTERS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
Charity information
Four Daughters Charitable Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 15 Eton Gardens, Lambolle Place, London, NW3 4PE.
1.1 Accounting convention
The accounts have been prepared in accordance with the company's Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: 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)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of fixed asset investments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
1.3 Charitable funds
Unrestricted income funds 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. All the charity's funds are unrestricted, it has no restricted or endowed funds.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably and it is probable that income will be received.
Investment income is included in the accounts on the accruals basis.
1.5 Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
Grants are recognised in the accounts once the application has been approved.
1.6 Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at market price valued by Chartered Surveyors. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in Statement of Financial Activities.
1.7 Fixed asset investments
Fixed asset investments are initially measured at transaction price including transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year.
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FOUR DAUGHTERS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
1.8 Cash and cash equivalents
This comprises current asset investments which are cash deposits held by the charity's investment managers.
2 Income from donations
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Donations | 100,297 | 200,000 |
| Donation - investment property | 515,000 | - |
| 615,297 | 200,000 |
3 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Rental income | 12,240 | - |
| Dividends | 7,103 | 9,809 |
| Interest receivable | 62,759 | 67,488 |
| 82,102 | 77,297 |
4 Expenditure on raising funds
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Investment management | 21,191 | 16,914 |
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FOUR DAUGHTERS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
5 Expenditure on charitable activities
| Grants and donations Independent examiner 2024 2024 £ £ Direct costs Operating costs 210 - Grant funding of activities (see note 6) 80,000 - Governance - 3,240 80,210 3,240 Analysis by fund Unrestricted funds 80,210 3,240 |
Total Grants and donations Independent examiner 2024 2023 2023 £ £ £ 210 13 - 80,000 87,500 - 3,240 - 2,270 83,450 87,513 2,270 83,450 87,513 2,270 |
Total 2023 £ 13 87,500 2,270 |
|---|---|---|
| 89,783 | ||
| 89,783 |
6 Grants payable
| 6 | Grants payable | ||
|---|---|---|---|
| Grants and | Grants and | ||
| donations | donations | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Grants to institutions (2 grants): | |||
| Myisreal | 50,000 | 25,000 | |
| Multiple Sclerosis Society | 30,000 | - | |
| Jewish Care | - | 12,500 | |
| One to One Childrens Funds | - | 25,000 | |
| Ujia | - | 12,500 | |
| Magen David Adom UK | - | 12,500 | |
| 80,000 | 87,500 | ||
| 7 | Support costs allocated to activities | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Governance costs | 3,240 | 2,270 | |
| Analysed between: | |||
| Independent examiner | 3,240 | 2,270 |
8 Trustees
None of the trustees (or any person connected with them) received any remuneration or expenses in connection with their duties as a trustee during the two years ended 31 December 2024.
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FOUR DAUGHTERS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
9 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees during the two years ended 31 December 2024. The charity operates on a voluntary basis.
There were no employees whose annual remuneration was more than £60,000.
10 Gains and losses on investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| Gains/(losses) arising on: | £ | £ |
| Revaluation of investments | 198,543 | 161,116 |
| Sale of investments | (38,543) | 4,650 |
| Loss of investment | (37,699) | - |
| 122,301 | 165,766 |
11 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
12 Other gains and losses
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Gains/(losses) upon: | £ | £ | |
| Foreign exchange | 4,069 | (4,950) | |
| 13 | Investment property | ||
| 2024 | |||
| £ | |||
| At 1 January 2024 | - | ||
| Addition through Donation | 515,000 | ||
| At 31 December 2024 | 515,000 |
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FOUR DAUGHTERS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
13 Investment property
(Continued)
Investment property comprises £515,000. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 26 September 2025 by Michael Mekonen MRICS, Chartered Surveyors, who are not connected with the charity. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
14 Fixed asset investments
| Listed investments £ Cost or valuation At 1 January 2024 2,120,158 Additions 1,239,696 Valuation changes 194,907 Disposals (943,348) At 31 December 2024 2,611,413 Carrying amount At 31 December 2024 2,611,413 At 31 December 2023 2,120,158 |
Cash in portfolio £ 12,389 43,147 - (37,133) 18,403 18,403 12,389 |
Total £ 2,132,547 1,282,843 194,907 (980,481) |
|---|---|---|
| 2,629,816 | ||
| 2,629,816 | ||
| 2,132,547 |
Fixed asset investments revalued
The investment portfolio consists of listed equities and bonds. They have been valued at their year end market value. The historic cost of the investment portfolio is £2,251,232 (2023: £1,953,556).
15 Debtors
| 15 Debtors |
||
|---|---|---|
| Amounts falling due within one year: Other debtors 16 Current asset investments Cash deposits |
2024 £ 51,049 2024 £ 14,096 |
2023 £ 70,993 |
| 2023 £ 289,591 |
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FOUR DAUGHTERS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
| 17 Creditors: amounts falling due within one year Notes Deferred income 18 Accruals 18 Deferred income Other deferred income Deferred income is included in the financial statements as follows: Deferred income is included within: Current liabilities Movements in the year: Deferred income at 1 January 2024 Resources deferred in the year Deferred income at 31 December 2024 |
2024 £ 4,080 7,800 11,880 2024 £ 4,080 2024 £ 4,080 - 4,080 4,080 |
2023 £ - 6,040 |
|---|---|---|
| 6,040 | ||
| 2023 £ - |
||
| 2023 £ - |
||
| - - |
||
| - |
19 Unrestricted funds
The unrestricted funds of the charity comprisese the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At General funds Previous year: At General funds |
1 January 2024 Incoming resources Resources expended Gains and losses At 31 December 2024 £ £ £ £ £ 2,487,091 697,399 (104,641) 118,232 3,198,081 1 January 2023 Incoming resources Resources expended Gains and losses At 31 December 2023 £ £ £ £ £ 2,145,775 277,297 (106,697) 170,716 2,487,091 |
|---|---|
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FOUR DAUGHTERS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
20 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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