REGISTERED COMPANY NUMBER: 08542451 (England and Wales)
REGISTERED CHARITY NUMBER: 1155281
Trustees. Report and
Unaudited Financial Statements forthe Year Ended 31 May 2024
for
The Manny Cussins Foundation
(A Company Limited by Guarantee)
FORD CAMPBELL FREEOMAN

The Manny Cussins Foundation
Contents of the Financial Statements
for the Year Ended 31 2024
Page
Trustees. Report
1 to 3
Independent Examiners Report
statement of Financial Activities
Statement of Financlal Posltlon
Notes to the Financial Ststements
7 to 12

The Manny Cussins Foundation
Trustees. Report
for the Year Ended 31 2024
The trustees who are also directors of the charrty ft)r the purpx)ses of the Companies Act IQ6, present their report wth
the financial staterllents of the charty for the yeai ended 31 May 2024. The trustees have adopted the piovisions of
Accounting and Reporting by Charities.. Statement of Recommended Prath"ce applicable to charities preparing their
accounts in acwrdance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
(effective 1 January 2019).
OPJECTIVES AND ACTIVITIES
Objectives and aims
The Trustees have referred to the guidan￿ contained in the Charity CommiSsic￿'S general guidance on public beneftt
when reviewng the aims and objectives of the Foundation and in planning future activities.
The Manny Cussins Foundation is governed by its Articles of Association dated 23 May 2013 ￿lch states that the
objects of the charity are 'such charrtable purposes as the Trustees may in their absolute discretion decide,.
It is the intention of the Trustees to continue the ￿rk of the charity from vthich it receNed its assets, The Manny Cussins
Foundation, being to 'apply monies available lor distribution for charitable purposes or pay in the form of subscriptions to
existing charities, keeping in mind the pattern of charitable donations made by the Foundation during the lifetime of the
late Manny Cussins.
Areas of particular interest for The Manny Cussins Foundation have included..
the ￿elfare and care of the elderly,.
charitable causes in Yorkshire and Humberside..
the ￿lfare and care of chiklren at risK
charrtable needs amongstthe Jewsh Communib'es in the Unrted Kingdom and abroad.,
the provision of healthcare in the Yorkshire region and abroad.,
- other deserving causes approvéd by the Trustees.
The Trustees have in the past. generally. confi'ned themsefves to charities registered vAth the Charity Commission. They
receive a large number of outside applications ￿1¢h are reviewed by the Administrator and then considered by the
trustees, in addition they brought their own r￿QMmendatIonS to their discussions vh)ilst endeavouring to ensure that the
causes supported were well constrtuted and fully desetving of their support
With this in mind the Trustees have adopted the followng crrteria in respert of 'giving':
The Trust wll concentrate rts efforts on SuppO￿.n9 Yorkshire based Charrties thich principally work either to provide
care and development opportun￿leS for Children to meet Medical needs, wth a preference, but not excluswely so, for
these Charrties to be Jewsh. The Trustees wsh that all substantial or repeat regular donabons be considered from a
perspective that they shoukl make a material drfference to a Farticular project. as opposed to supporting the general
fund of a Charty.
The Trustees generally seek to disburse the Foundation's Inco￿ but not ts capital, ex￿pt in exceptional
circumstances. They aim to support charitsble causes that are local to the Leeds area and have some Jewsh and
medical content in a that wll perpetuate the name and work of the settlor. the late Manny Cussins.
strategic report
The followng sections of the achievements and performan￿ and financpl review form the strategic report of the charty.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The investment strategy has centred on having a balan￿ and mixed portfolio of investments. £3,852,935 (2023
£3,625,278) Wds invested in the stock market. The charity is comfortable with the return available to them through more
traditional means and as such are Iwking to hokl monies on bank deposlt as an investment strategy.
Page 1

**The Manny Cussins Foundation** 

**Trustees' Report for the Year Ended 31 May 2024** 

## **FINANCIAL REVIEW** 

## **Financial position** 

During the period the Foundation has made a deficit of £156,860 (2023 deficit: £606,901) as shown in the Statement of Financial Activities. Income arising from investments in the year totalled £62,988 (2023: £73,224) and donations totalling £245,269 (2023: £466,363) were made. Investments were sold for a loss of £121,418 (2023: gain of £20,974) and unrealised gain of £201,840 (2023 deficit: £178,553) was recognised on the listed investments. The Trustees are happy with the performance of the investments, given market conditions at the time. 

## **Going concern** 

There are no material uncertainties about the charity's ability to continue as a going concern. 

## **FUTURE PLANS** 

The main donation focus in the coming years ahead is the charity's work with Leeds Mind, Momentum Children Charity, The Zone, Leeds Jewish Free School and the new centre in Bradford for Into University. The Trustees will continue to identify and make donations to causes that they consider eligible. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. 

The Manny Cussins Foundation was incorporated on 23 May 2013. On 10 January 2014 the unincorporated charity known as The Manny Cussins Foundation (Charity Number 219661) transferred all its assets and undertakings to the Charity under a Transfer Agreement. These assets comprised freehold land, quoted investments and cash at bank. The freehold land has subsequently been sold. 

The Trustees engage in no fund raising activities. They meet formally twice a year to consider inter alia investment policy, including the generation of sufficient income to continue the Charity's activities. No expenses are drawn by the Trustees. 

## **Trustees recruitment and training** 

The majority of the Trustees are members of the family of the late Manny Cussins, with all trustees committed to continuing his work through the charity. Trustees training consists of regular meetings and ongoing support and mentoring from the other Trustees. 

## **Related parties** 

Anne Cussins the charity administrator, is a family member of the Trustees. 

## **Risks** 

The major risks to which the Charity is exposed, as identified by the trustees, have been reviewed and systems have been established to manage those risks. 

In particular, the major risk to the Charity is a fall in investment income and/or value. The Trustees have a prudent investment policy and employ the services of a respected investment management firm in order to manage this risk. 

As the charity also has significant cash reserves securing this cash is key. Currently this is held with a main stream bank. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 

08542451 (England and Wales) 

## **Registered Charity number** 

1155281 

## **Registered office** 

c/o Ford Campbell Freedman Limited 33 Park Place 2nd Floor Leeds West Yorkshire LS1 2RY 

Page 2 



The Manny Cussins Foundation
Trustees. Report
for the Year Ended 31 2024
Trustees
A J Cussins
B M Cussins
T Cussins
A Cussins
Miss E Cussins
C P Easton
A M Sacks
Ms J M Bawck-Bell
N O Cussins
Independent Examiner
Dale Coleman
Ford Campbell Freedman Limrted
Chartered accountants
2nd Floor
33 Park Place
Leeds
LS12RY
26102125
Approved by order of the board of trustees on
and signed on its behalf by..
Benjamin Cussins (Feb 26, 2025 15'.39 GMTI
B Cussins- Trustee
Page 3

Independent Examiner's Report to the Trustees of
The Manny Cussins Foundation
Independent examiners report to the trustees of The Manny Cussins Foundation {'the Companw)
I report to the charity trustees on my examinab)n of the accounts of the Company for the year ended 31 May 2024.
Responsibilities and basis of report
As the charitls trustees of the Company (and also its directors for the purposes of company law) you are responsible for
the preparation of the accounts in accordance with the requirements of the Companies Act 2006 Cthe 2006 ACV).
Having satisfied myself that the accxjunts of the Company are not r￿uIr￿1 to be audrted under Part 16 of the 2(YJ6 Act
and are eligible for independent examination, I report in respect of my examination of your charty's accounts as carried
out under Section 145 of the Charities Act 2011 (the 2011 Art). In carrying out my examination I have followed the
Directions given by the Charity Commission under Section 145(9 (b) of the 2011 Act.
Independent examiners statement
I have completed my examination. l Confirm that no matters have come to my attention in connection with the
examination gDiing me cause to believe..
accounting records were not kept in respect of the Company as r4uired by Section 386 of the 2006 Act., or
the accounts do not accord wth those records., or
the accounts do not comply wth the accounting requirements of Section 396 of the 20C6 Act other than any
requirement that the accounts give a true and fair vw Ithich is Th)t a matter considered as part of an
independent examination", or
the accounts have not been prepared in accordance knith the metrKJds and principles of the Statement of
Recommended Practice for accounting and reporting by charities (applicable to charrf(ies preparing their
accounts in accordance wth the Financ￿1 Reportsng Standafd applicable in the UK and Republic of lieland (FRS
10211,
I have no concerns and have come across no other matters in connection wth the examination to ￿kn1¢h attention should
be draM in this report in order to enable a proper understanding of the accounts to be reached.
Dale Coleman (Feb 26, 2025 15:59 GMT)
Dale Coleman
Ford Campbell Freedman Limrted
Chartered accountants
2nd Floor
33 Park Plac8
Leeds
LS12RY
26102125
Date..
Page 4

The Manny Cussins Foundation
statement of Financial Activities
(Incorporating an Income and Expenditure Account)
for the Year Ended 31 2024
2024
Unrestricted
fund Total funds
2023
Notes
INCOME AND ENDOWMENTS FROM
Investment income
Other income
61.611
1.377
73,224
Total
62.988
73,224
EXPENDITURE ON
Raising funds
37.972
38,795
Charitable activities
Expenditure on charitsble activtties
262.298
483,751
Total
300.270
522,546
Net gainslllossesl on investments
80.422
1157,5791
NET INCOMEI(EXPENDITURE)
1156.860)
1606,9011
RECONCILIATION OF FUNDS
Total funds brought fowdrd
4,272,540
4,879,441
TOTAL FUNDS CARRIED FORWARD
4.115,680
4,272,540
The notes form part of these financial statements
Page 5

The Manny Cussins Foundation
statement of Financial Position
31 May 2024
2024
Unrestricted
fund Total funds
2023
Notes
FIXED ASSETS
Investments
11
3.852.935
3,625,278
CURRENT ASSETS
Debtors
Cash at bank
12
1.441
410,507
172,735
973,872
411,948
1,146,607
CREDITORS
Amounts falling due wthin one year
13
1149,203)
1499,3451
NET CURRENT ASSETS
262.745
647,262
TOTAL ASSETS LESS CURRENT LIABILITIES
4.115.680
4,272,540
NET ASSETS
4.115.680
4,272,540
FUNDS
Unrestricted funds
14
4,115.680
4,272,540
TOTAL FUNDS
4,115,6
4,272,540
The charitable company is ent￿ed to exemption from audit under Section 477 of the Companies Act 2Crf)6 for the year
ended 31 May 2024.
The members have not requir￿ the company to obtain an audit of its financial statements for the year ended
31 May 2024 in accordance with Section 476 of the CompanEs Act 2006.
The trustees aCknO￿edge their responsibilities for
(a)
ensuring that the charitable company keeps accounting records that comply wth Sectts)ns 386 and 387 of the
Companies Act 2006 and
preparing financial statements thich give a true and fair view of the state of affairs of the charitable company as
at the end of each financial year and of its surplus or deficit for each financial year in accordan￿ wth the
requirements of Sections 394 and 395 and thich othewse comply wth the requirements of the Companies Act
2006 relating to financial statements, so far as applicable to the charitable ￿Mpany.
(b)
These financial ststements have been prepared in accordance Y*th the provisions applicable to charitable companies
subjert to the small companies regime.
The financial statements approved by the Board of Trustees and authortsed for issue
on
26102125
. and were signed on ts behalf by".
B Cussins- Trustee
The notes form part of these financial statements
Page 6

The Manny Cussins Foundation
Notes to the Financial Statements
for the Year Ended 31 2024
GENERAL INFORMATION
The charity is a public benefit entity and a private company limited by guarantee, registered in England and
Wales and a registered charity in England and Wales. The address of the legiste1￿1 office is clo Ford Campbell
Freedman Limited, 33 Park Place, 2nd Floor, Leeds, LS12RY
ststement of compliance
These financial statements have been prepared in compliance wth FRS 102, The Financial Reportr'ng Standard
applicable in the U K and Republic of Ireland,, the Statement of Recommended Practice applicable to chartties
preparing their accounts in accordance wtth the Financial Reporb'ng &andard applicable in the UK and Republic
of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
The Manny Cussins Foundation meets the definition of a wblic benefit entity under FRS 102. Assets and
liabi11ties are inrtially recognised at historic or transaction value unless othewse ststed in the relevant
accounting policy notes.
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as Mcdif￿d by the revaluation of
certain financial assets and liabilities.
The financial statements are preparèd in sterling, ￿1¢h is the functional currency of th8 entity.
Going concern
There are no material uncertainties aboutthe Charitys ability to continue as a going cOn￿rn.
Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and
assumptions that affect the amounts reported. TI￿se estimates and judgements are continually reviewed and
are based on experience and other factors, including exFectations of future events that are believed to be
reasonable under the circumstances.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and
assumptions that affect the amounts reported. These estimates and judgements are Continually reviewed and
are based on experien￿ and other factors, including exFectations of future events that are believed to be
reasonable under the circumstances.
Incom ing resources
All incoming resources are included in the statement of financial actwrties then entrtlement has passed to the
charity,. it is probable that the economic benefrts associated wth the transaction wll flow to the charity and the
amount can be reliably measured. The following specific wlicies are applied to particular categories of income.
Resources expended
Expendrture is allwated in the Slatement of Financial Athibes based on the type of expense incurred.
Charitable expendrture includes donations made in the furtherance of the Charitys objectwes.
Governance costs include costs relats'ng to the administratton of the Charty.
Grants offered subject to Condi￿n5 thich have not keen met at the year end date are noted as a commibnent
but not accrued as expendrture.
Taxation
The charity is exem0 from corporation tax on its charitable activities.
Investm ents
Listed investments are measured at fair value wth changes in fair value being r￿ognISed in income or
expenditure.
Financial Instruments
Page 7
continued...

The Manny Cussins Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 2024
ACCOUNTING POLICIES- continued
Investm ents
A financial asset or a fv'nancial liability recognIs￿ only ￿en the entty becomes a party to the contractual
provisions of the instrument.
Where investments in shares or preference shares are publrcly tr￿e￿ or their fair value can otherwse be
measured reliably, the investment is subsequently measured at fair value vAth changes in fair value recognised
in income and expenditure. All other such investments are subsequently measured at cost less impairment.
INVESTMENT INCOME
2024
2023
Income from listed investments
Other income
58,572
3.039
47,747
25,477
61.611
73,224
OTHER INCOME
2024
2023
HMRC interest received
1,377
RAISING FUNDS
In¥Estment management costs
2024
2023
Portfolio managem8nt
37,972
38,795
CHARITABLE ACTIWTIES COSTS
Grant
furKling of
activities
(see mte
71
Support
costs (see
note 81
Totals
Expenditure on charitable actNth'es
245.269
17.029
262.298
GRANTS PAYABLE
2024
2023
Expendf(ure on charttable actNrties
245,269
466,363
Page 8
continued...

The Manny Cussins Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 2024
GRANTS PAYABLE- continued
The total grants paid to instrtutions during the year vrds as follov*S'.
2024
2023
Into University
The Zone in Leeds
Street Angels
Leeds Jewsh Free School
Leeds Kollel
Momentum Children
Northern Ballet
Africa Children
Simon on the Streets
8ear
Brodetsky Link PTA
Chabad Lubavitch
CAPA
Leeds Jewsh Representitive Council
Wiener Holocaust Library
Leeds Mind
Dorothy House Hospic8
Somerset Sight
Bradford District Care
Magen David Adom
Yad Vashem
200,000
69,894
18,000
35,069
15,000
66,800
6,600
5,000
5,000
40,000
5,000
18,000
29.000
10.000
67.000
20.000
5,000
1.500
20.000
5.000
{231)
2,500
2.500
10.000
50,000
5.000
245,269
466,363
SUPPORT COSTS
Governan
costs
Expenditure on charttable actNrties
17,029
Support costs, included in the above. are as follN6'.
2024
ExFenditure
on
charitable
activities
2023
Total
activities
Independent examination of financsal
statements
Other financial services
Administration fees
Bank charges
1,800
3.212
12,OCKI
17
1,800
3.570
12,OiXI
18
17.029
17,388
Page 9
continued...

The Manny Cussins Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 2024
NET INCOMEIIEXPENDITURE}
Net incomel(expendtture) is stated after chargingl(crediting)'.
2024
2023
Independent examination of financial statements
Other financial services
1.800
3.212
1,800
3,570
10.
TRUSTEES. REMUNERATION AND BENEFITS
There ￿ere no trustees, remuneration or other benefts for the year ended 31 May 2024 nor for the year ended
31 May 2023.
Trustees. expenses
There were no trust8es' expenses paid for the year ended 31 May 2024 nor for the year ended 31 May 2023.
FIXED ASSET INVESTMENTS
Listed
investments
MARKET VALUE
At 1 June 2023
Addttions
Disposals
Revaluations
3,625.278
1,064,264
(1,038.4471
201,840
At 31 May 2024
3,852.935
NET BOOK VALUE
At 31 May 2024
3,852,935
At 31 May 2023
3,625, 278
There were no investment assets outs*Je the UK
Financial assets held at fair value
The listed investments are shoM at market value as provided by the charitys investment manager J M Finn &
Co.
12.
DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Other debtors
Prepayments and accrued income
169,OlXJ
3,735
1.441
1.441
172,735
Page 10
continued...

The Manny Cussins Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 2024
13.
CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Other credrtors
Accruals and deferred income
36
4￿,3(
149.203
149.203
4gJ,345
14.
MOVEMENT IN FUNDS
Net
movement
in funds
At 1.6.23
At 31.5.24
Unrestricted funds
General fund
4.272.540
(156.860)
4,115.680
TOTAL FUNDS
4.272.540
(156.860)
4,115.680
Net movement in funds, ircluded in the above are as follov+S'.
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
{3Q).270)
80.422
(156,860)
TOTAL FUNDS
62.988
13Q).270)
80.422
{156,8601
Comparatlves for movement In funds
Net
movement
in funds
At 1.6.22
At 31.5.23
Unrestricted funds
General fund
4,879,441
(￿6,931)
4,272,540
TOTAL FUNDS
4,879.441
(6C6,901)
4,272,540
Comparative net rn¢￿ernent in funds, included in the above are as folIcy•￿'.
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
73,224
(522,546)
(157,579)
(6C6, 901)
TOTAL FUNDS
73.224
(522.546)
{157,579)
(606,￿)1)
Page11
continued...

The Manny Cussins Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 2024
14.
MOVEMENT IN FUNDS- continued
A current year 12 months and prior year 12 months combined WSIti￿ is as follows..
Net
movement
in funds
At 1.6.22
At 31.5.24
Unrestricted funds
General fund
4,879,441
(763,761)
4,115,680
TOTAL FUNDS
4,879,441
(763, 761)
4,115,680
A current year 12 months and WILV year 12 rTr)nths ccmbined net rr#)vement in funds. included in the above are
as follows.
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestrlctsd funds
General fund
136,212
(822,816)
(Tl,157)
1763, 761)
TOTAL FUNDS
136,212
{822.816)
(77,157)
1763,7611
15.
RELATED PARTY DISCLOSURES
Anne Cussins, a family member of the Trustees, was engaged as an administrator of the charity and was paid
£12,00012023'. £12,OCQI for her Servi￿ during the period.
As reported in the previous years accx)unts loans were made by the charity to Andrew Cussins. Interest on this
loan received of £3,039 (2023 £25,477). The Icans V*pre fulty repaid on 1 Decem1￿r 2022.
Andrewcussins is a trustee of the charty.
16.
FINANCIAL INSTRUMENT
The carrying amount for each category of financial instruments is as follows..
2024
3,852,935
2023
3.625,278
Financial assets measured at fair value through the income and expendrture
Page 12