Charity number: 1153199
THE HENRY AND SUZANNE DAVIS FOUNDATION
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 JUNE 2024
THE HENRY AND SUZANNE DAVIS FOUNDATION
| CONTENTS | |
|---|---|
| Page | |
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 - 16 |
THE HENRY AND SUZANNE DAVIS FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 27 JUNE 2024
Trustees
Henry W Davis, Chairman Suzanne Davis, Trustee Robert D Craig, Trustee
Charity registered number
1153199
Principal office c/o Centreland Limited Bolsover House 5-6 Clipstone Street London W1W 6BB Accountants Nyman Libson Paul LLP Chartered Accountants 124 Finchley Road London NW3 5JS
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THE HENRY AND SUZANNE DAVIS FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 27 JUNE 2024
The Trustees present their annual report together with the financial statements of the charity charity for the year 28 June 2023 to 27 June 2024. The Trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
Objectives and activities
a. Policies and objectives
In complicance with the duty set out in Section 4 of the Charities Act 2011 and in shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit.
The objective of the trust is to benefit such registered charities or such charitable purposes and in such proportions and in such manner and subject to such terms and conditions as the trustees in their absolute discretion think fit from time to time. The trustees must use the income and may use the capital of the Trust in promoting the objectives.
The Charity makes donations to a range of charities and charitable purposes mainly in England and Wales but also in Israel. In doing so the trustees have familiarised themselves with the guidance on public benefit given by the Charity Commision and have had regard to this. The trustees have clear ideas what charities and charitable purposes they wish to support, and speculative applications for funding are unlikely to be successful.
b. Strategies for achieving objectives
The trust is established as a charity whose objects are the advancement of education, the protection of health and for any other charitable purpose. These objects were met during the year by the making of grants.
c. Main activities undertaken to further the charity's purposes for the public benefit
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
a. Main achievements of the charity
During the period, donations of £435,189 (2023: £62,500) were recieved and charitable donations of £112,909 (2023: £33,462) were made.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
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THE HENRY AND SUZANNE DAVIS FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 27 JUNE 2024
b. Reserves policy
The trustees consider that no specific level of reserves is required, because they only make grants within the available resources. The reserves policy and level of reserves required is reviewed on a regular basis by the Trustees. The total amount of unrestricted fund held at year end is £763,921 (2023: £442,841).
Structure, governance and management
a. Constitution
The Henry and Suzanne Davis Foundation is a registered charity, number 1153199, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Organisational structure and decision-making policies
The Trustees meet at regular intervals to discuss and formulate policy which they implement. There are no paid employees.
d. Policies adopted for the induction and training of Trustees
The induction and training of trustees is carried out informally by existing trustees.
e. Financial risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
The charity's financial contol systems have been reviewed by the trustees and they are satisfied that these are appropriate to the types of activities undertaken by the charity. The trustees are satisfied that any major risks have been identified and have been mitigated.
Plans for future periods
The Henry and Suzanne Davis Foundation plans to continue to operate into the forseeable future with the continued objective of providing grants to institutions working towards the advancement of education, the protection of health and for various other charitable purposes.
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THE HENRY AND SUZANNE DAVIS FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 27 JUNE 2024 Statement ol TnMteos' responsibilities The Trustees are responsible for pParing the Trustees. Report and the financtal statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practtce). The law applicable to Charits in England & 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 its incoming reSoUrS and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: select suitable a(Unting policies and then apply them consistenty, observe the methods and principles of the Charities SORP (FRS 102): make judgments and accounting estimates that are reasonabk and prudent, state whether applicable UK Accounts"ng Standards (FRS 102) have been folk)wed, subject to any material departu$ disdosed and explained in the financial statements" 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 resFK)nsible for keeping adequate accounts'ng records that a sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulats'ons 2008 and the provisions of the Trust dd. They are also responsible for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregutarities. Approved by order of the members of the board of Twstees on 17 April 2025 and signed on their behalf by.. Robert D Craig (Trustee) Page 4
THE HENRY AND SUZANNE DAVIS FOUNDATION
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 27 JUNE 2024
Independent Examiner's Report to the Trustees of The Henry and Suzanne Davis Foundation ('the charity')
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 27 June 2024.
Responsibilities and Basis of Report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. 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.
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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:
-
accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Signed: Dated: 25 April 2025 Cheon| Andrew Thomas ACA
Nyman Libson Paul LLP 124 Finchley Road London, NW3 5JS
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THE HENRY AND SUZANNE DAVIS FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 27 JUNE 2024
| Note Income from: Donations and legacies 4 Investments 5 Total income Expenditure on: Charitable activities 7 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ 435,189 - 435,189 114,109 114,109 321,080 442,841 321,080 763,921 |
Total funds 2024 £ 435,189 - 435,189 114,109 114,109 321,080 442,841 321,080 763,921 |
Total funds 2023 £ 62,500 537 |
|---|---|---|---|
| 63,037 | |||
| 33,462 | |||
| 33,462 | |||
| 29,575 | |||
| 413,266 29,575 |
|||
| 442,841 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 to 16 form part of these financial statements.
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THE HENRY AND SUZANNE DAVIS FOUNDATION BALANCE SHEET AS AT 27 JUNE 2024 2024 2023 Note Current a888ts Cash at bank and in hand 765,121 442,841 Creditors: amounts falling due within one year 11 (1,200) Not current assets 763,921 442,841 Total net assets 763.921 442,841 Charity funds Unrestricted fvnds 12 763,921 442.841 Total funds 763,921 442,841 The financial statements were approved and authorised for issue by the Trustees on 17 April 2025 and signed on their behalf by". Robort D Craig I I (Trustee) The notes on pages 8 to 16 fomi part of these financial staten*nts. Page 7
THE HENRY AND SUZANNE DAVIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 JUNE 2024
1. General information
The Henry and Suzanne Davis Foundation is a charity registered in England & Wales. Its registered office address is Centreland Limited, Bolsover House, 5-6 Clipstone Street, W1W 6BB.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Henry and Suzanne Davis Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The charity's functional and presentational currency is GBP.
2.2 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
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THE HENRY AND SUZANNE DAVIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 JUNE 2024
2. Accounting policies (continued)
2.3 Expenditure (continued)
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
Governance costs are those incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements.
All expenditure is inclusive of irrecoverable VAT.
2.4 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.5 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.6 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.7 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
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THE HENRY AND SUZANNE DAVIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 JUNE 2024
3. Critical accounting estimates and areas of judgment
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.
Critical accounting estimates and assumptions:
There are no accounting estimates or assumptions in the accounts that are considered to be critical.
4. Income from donations and legacies
| Donations Donations |
Unrestricted funds 2024 £ 435,189 Unrestricted funds 2023 £ 62,500 |
Total funds 2024 £ 435,189 |
|---|---|---|
| Total funds 2023 £ 62,500 |
5. Investment income
| Bank interest receivable Unrestricted funds 2023 £ Bank interest receivable 537 |
Total funds 2024 £ - |
|---|---|
| Total funds 2023 £ 537 |
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THE HENRY AND SUZANNE DAVIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 JUNE 2024
6. Analysis of grants
| Grants payable to institutions Grants payable to institutions |
Grants to Institutions 2024 £ 112,686 Grants to Institutions 2023 £ 32,010 |
Total funds 2024 £ 112,686 |
|---|---|---|
| Total funds 2023 £ 32,010 |
. Analysis of grants (continued)
The charity has made the following material grants to institutions during the year:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Name of institution | ||
| AJEX | 2,500 | - |
| Anne Frank Trust UK | 5,000 | - |
| Atlantic Partnership | 4,000 | 4,000 |
| Beit Halochem UK | 2,500 | - |
| Boys Town Jerusalem | 500 | 500 |
| Chai Cancer Care | 5,120 | 7,500 |
| CST | 5,000 | - |
| Dementia UK | 500 | - |
| Emunah | - | 350 |
| Friends of the Sick | 100 | - |
| Friends of Yad Sarah | 500 | - |
| Grief Encounters | - | 600 |
| Heart Cells Foundation | 250 | 650 |
| Holocaust Educational Trust | 3,000 | 2,500 |
| Israel Guide Dogs | 1,200 | - |
| Jewish Care | - | 790 |
| Kerim Olim | - | 500 |
| Kisharon Langdon | 1,000 | - |
| Kol Nidre Appeal | 1,000 | 500 |
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THE HENRY AND SUZANNE DAVIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 JUNE 2024
| Life Lites Laniado Hospital Magen David Adom Magic Curl Mill Hill Wizo MyIsrael Myelmo UK Norwood ORT UK Project Lily South Hampstead Synagogue Stand With Us The Henry Jackson Society UJS Jewish Chaplaincy UK Friends of AWIS UKLFI United Synagogue Youth Aliyah Child Rescue |
- - 10,000 500 100 14,200 - 25,000 10,000 500 1,000 - 7,000 - 5,000 5,000 2,216 - 112,686 |
250 500 3,000 - 50 1,000 1,000 - - - 1,000 3,000 - 200 - - 3,870 250 |
|---|---|---|
| 32,010 |
7. Analysis of expenditure on charitable activities Summary by fund type
| Grants payable to institutions Grants payable to institutions |
Unrestricted funds 2024 £ 114,109 Unrestricted funds 2023 £ 33,462 |
Total 2024 £ 114,109 |
|---|---|---|
| Total 2023 £ 33,462 |
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THE HENRY AND SUZANNE DAVIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 JUNE 2024
8. Analysis of expenditure by activities
| Grant making activities Grant making activities Analysis of support costs Administrative costs Finance costs Governance costs Administrative costs Finance costs Governance costs |
Grant funding of activities 2024 £ 112,686 Grant funding of activities 2023 £ 32,010 |
Support costs 2024 £ 1,423 Support costs 2023 £ 1,452 Activities 2024 £ 150 73 1,200 1,423 Activities 2023 £ 189 63 1,200 1,452 |
Total funds 2024 £ 114,109 |
|---|---|---|---|
| Total funds 2023 £ 33,462 |
|||
| Total funds 2024 £ 150 73 1,200 |
|||
| 1,423 | |||
| Total funds 2023 £ 189 63 1,200 |
|||
| 1,452 |
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THE HENRY AND SUZANNE DAVIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 JUNE 2024
9. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £1,200 (2023 - £1,200).
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 27 June 2024, no Trustee expenses have been incurred (2023 - £NIL).
11. Creditors: Amounts falling due within one year
2024 2023 £ £ Accruals 1,200 -
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THE HENRY AND SUZANNE DAVIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 JUNE 2024
12. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds Statement of funds - prior year Unrestricted funds General Funds |
Balance at 28 June 2023 £ 442,841 Balance at 1 June 2022 £ 413,266 |
Income £ 435,189 Income £ 63,037 |
Expenditure £ (114,109) Expenditure £ (33,462) |
Balance at 27 June 2024 £ 763,921 |
|---|---|---|---|---|
| Balance at 27 June 2023 £ 442,841 |
13. Analysis of net assets between funds Analysis of net assets between funds - current period
| Current assets Creditors due within one year Total |
Unrestricted funds 2024 £ 765,121 (1,200) 763,921 |
Total funds 2024 £ 765,121 (1,200) 763,921 |
|---|---|---|
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THE HENRY AND SUZANNE DAVIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 JUNE 2024
13. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
| Current assets Total |
Unrestricted funds 2023 £ 442,841 442,841 |
Total funds 2023 £ 442,841 |
|---|---|---|
| 442,841 |
14. Related party transactions
The charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the charity at 27 June 2024.
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