2025-04-05-accounts

The Marcus Margulles Charftable Trust Flnanclal Statements Year ended 5 Aprll 2025 Charlty No.: 1156856

The Marcus Margulie5 Charftable Trust Report and Flnanclal Statements for the year ended 5 Aprll 2025 Contents Page: Reference and adminislratlve Informatlon Report of the Trustees Accountants, Report Audlt Report Statement of Flnandal Actlvitle5 Balance Sheet Statement of Cash Flow 10-14 Notes formlng part of the Financlal Statements Settlors Marcus Jonathan Marsulles Trustees Marcus Jonathan Margulles Leslle Davld Michaels Martln Davld Palsner CBE Alexander Mlchael Sorkln Elllotl Goldsteln Anthony Davld Landes Prfnclpal Offlce 27 Berkeley Square. London, W1J 6EL Accountants 8DO LLP, 55 Baker Street. London, WIU 7EU Audltors Perrys Audlt Llmlted, Churchdown Chambers, Bordyke, Tonbrldge, Kent, TN9 1 Nft Investm•nt Mana8ers Caznove Capital, 1 London Wall Place, London, EC2Y SAU Navera Investment Managernent Limlted, Rlver51de House, 2a Southwark BrldBe Road, London. SE19HA Fundsmlth, 33 Cavendish Squaie, London, W1G OPW Bankers Coutts Ft Co. 440 Strand, London, WC2R OQS Barclays Bank UK PLC, 1 Churchill Place. London, E14 5HP Sollcltors Payne Hicks Beach. 10 New Square, Holbom, London, WC2A 3QG

The Marcus Margulies Charitable Trust Report of the Trustèes for the year ènded 5 Aprll 2025 The Trustee5 present their report along wlth the flnancfal Statements of the charfty for the year ended 5 Apdl 2025. The Flnanclal Statement5 have been prepared in accordance with the accountlng pollcies set out on page 10 and 11 and comply wlth the charity's trusl deed and applicable law. Structure. Governance and Management The Marcus Margulles Charitable Trust Is constituled under a Trust deed dated 27 February 2014. It Is a reglstered charSty no. 1156856. The Tru5tÈes who have Served durln8 the year and 51nce the year end are Set on page 1. Where there is a requlrement for new Trustee5, thls would be identlfled by the remalnln8 Trustees. Rlsk management The Trustees have examined the major strateglc, buslness and operatlonal rlsks whlch the charity faces and conflrm that systems have been establlshed to enable regular reports to be produced so that such risks are contlnuously monitored and that approprlate Steps can be taken to lessen these risks. Objectlves and Actlvltles This trust was set up by Marcus Margulles In 2014. Although the objects of the charfty are to apply the income and capltal of the Trust for charltable purposes as Ihe tru5tee5 In thelr absolute dlscrellon detemilne, the general pollcy Is to make the bulk of grants to charltles In 15rael. These in the maln support major capltal projects, payable over a number of years. to or8anisatlons In the fields of mediclne, wellbelng, educatlon, and the arts, thal beneflt the whole populallon of Israel, ffrespective of rellglon, In Britaln donallons have been largely to support nurslng Staff In Naiional Health hospltals. and culture, especlally wlth young people. Grant maklng pollcy All appllcation5 recefved are considered by the Trustee5 on their own merlt for sultablllty of funding. Reserves pollcy The Tru5tee5' pollcy Is to malntafn thefir contlnulng level of support under the grant maklng pollcy that they have agreed. If Income resources are Insulflcfenl lo cover the grants then recourse Is made to the other funds of the Trust. The Trustees do not conslder that any mlnlmum level of resources is requlred, Plans for the future The Tru5tee5 intend to contlnue provldlng grants In a slmilar way to the recent past but retalnlne f lexlblllty a5 to the timing. and scale of grant maklng. Achlevements and Performance The Trustees have contlnued to apply thelr fund5 in accordance wlth the objectlves of the Trust and thelr grant maklng pollcy. Donatlon5 totalllng £477.494 have been made In the year (2024 - £805.7771 and are detalled In note 6 of these Flnanclal Statements. In accordance with the Charltles SORP IFRS 102), note 6 shows a schedule of grants pald or payable In thls flnancial year. Under SORP, there Is a reouirefflent to include fn the charitabLe actlv5tles of the Charily Lhe lull commStment to make a donation or grant in the financial year that they were commltted. frrespectlve of whe they are contracted to be pald.

The Marcus Margulies Charitable Trust Report of the Trustees for the year ended 5 April 2025 (contlnued Achlevement5 and Performance (contlnued) Commltments have been made lo the followlng charltle5 for future donatlons: a. Shaare Zedek Hospltal, Jerusalem, Israel for two more payments of US$500,000 b. Jerusalem Botanical Gardens. Israel for two payments of U5$5CM),000 c. Rabbi Sacks Legacy Trusl for three payments of £81.000 Flnanclal Revlew The Trust's Investments are managed by Meridiem Asset Management L5mlted and Fundsmlth LLP under a dlscretlonary rnandate and a con5ervatlve investment policy whlch alms at malntainlng the capltal of the charlty through dlverslf1catlon whlist malntalnlng sufflcient Ilquldlty for the Trust's foreseeable needs and donatlons. The market value of the investment portfolios at 5 Aprll 2025 were £9,526.597 (2024 - £13,563,086). The balance of cash held at 5 Aprll 2025 was £5.132,14212024 - £1.113,252). The Trustee5 report an Income surplu5 of £311.643 for the year ended 5 Aprll 2025 12024 . £685,630) before broughl forward balance5. Tru5tees' responslbllltles in relatlon to the flnancial ststements Law appllcabLe to charltles in En8land and Wales iequlre5 the Trustees to prepare flnanclal statements for each financlal year which Blve a true and falr vlew of charlty's ffnancial actlvltles durlng the year and of Its flnancfal posltlon at the erKJ of the year. In preparlng those fliiancial statements, the Trustees are requlred to: select 5ultable accounting poElcSes and then apply them conslstently make Judgernent5 and estimates that are reasonable and prudent; state whether appllcabte accountlng Standards and statements of recommended practlce have been followed subject to any departures dlsc105ed and explained In the flnancial statement5; and prepare the financlal statements on the 8olng concem basls ijnless ft is inapproprlate to presume that the charlty wlll contlnue Sn operatlon. The Trustees are re5ponslble for keepln8 accountlng records whlch dlsclose wlth reasonable accuracy at any tfrne the flnanclal posltlon of the charity and enable Ihem to ensure that the financlal statements comply wlth the Charitles Act 2011, the Charlty (Account5 and Reports) RegulatSons and the trust deed. They are a150 responslble for safeguardlng the assets of the char5ty and hence for takln8 reasonable steps for the preventlon and detection of fraud and other Ir￿gularItIeS. Approved by the Trustee5 and slgned on thelr behalf by: than Margulles Trustee Date: C{3

The Marcu5 Margulies Charltable Trust Accountant5, Rèptsrt Chartered accountants, report to the Trustees on the unaudited flnanclal Informatlon of Thè Marcus Margulles Charltable Trust In accordance wlth the letter ol engagement dated 21 January 2024, we have prepared for your approval tlie flnanclal Informatlon of The Marcus Margulle5 Charitable Trust for the year ended 5 Aprl12025 whlch comprlse the Balance Sheet. the Income and Expendlture Account, the Capital Account and the related notes from the entlty's accounting records and frorn Informatlon and explanatlons you have glven us. As a practlslng member flrm of the Instltute of Chartered Accountants In England and Wale5 (ICAEWI, we are subject to its ethlcal and other profe55ional requirement5 whlch are detailed at https:Ilwww.Icaew.coml regulatlonla.z. Yoii have approved the flnanclal Informatlon for the yearlperlod and have acknowledged your responslbillty for It, for tl)e approprlateness of the flnancial reportln8 framework adopted and for providlng all Information and explanations necessary for Its compllation. We have not verlfled the accuracy or completeness of the accountlng records or Informatlon and explanatlons you have glven to us and we do not, therefore, express any oplnion on the flnanclal Infomiatlon. Use of our report This report Is made solely to you, In accordance wlth the terms of our engagement letter dated 21 January 2024. Our work ha5 been undertaken solely to prepare for your approval the financlal Information of The Marcu5 MarEulles Charitable Trnst and state those rnatter5 that we have agreed to State to you In this report In accordance wlth ICAEW Technlcal Release TECH08116A4F. To the fullest extent perfflitted by law, we do not accept or assume responslblllty to anyone other than Tiustee5 for our work or for th15 report. BDO LLP Chartered Accountants 55 Baker street London W1U 7EU BDO LLP1s a Ilmited Ilability partnershSp reglstered In England and Wales Iwlth reglstered number OC305127). Date..

Independeht Audltor's Report to the Trustees of the The Marcus Mar8ulles Charltable Trust OplnloTh We audlted the flnanclal statement5 of The Marcus Mar8ulies Charltable Trust for the year ended 5 April 2025 whlch comprlso the Statoment of Ilnancial activitics, balancc sheet. and notes to flnanclal statements, including 5i8nificant accountln2 pollcle5. The flnanclal reportlng framework thai has been applied In their preparatlon Is appilcable law and United Kingdom Accountlng Standards, including Flnanclal RepDrtlng Standard 102 The Financlal ReportlnB Standard applkable In the UK and Republlc of Ireland Iunlted Kingdom Genorally Accepted Accountin8 Pracllce). In our oplnlon the Ilnanclal statemenrs: glve a irue and falr vlew of the state of ihe Charlly's aflalrs as at 5 AprS12025 and of Its Income and expendllure fof Ihe year then ended; have been propeily prepared In accordance wlth Unlted Klngdom Generally Accepted Accourttln8 pract1￿. havo bccn prepared In accordanco wtth the requiremcnts of the Charltles Act 2011. Basls for oplnlon We conducrcd our audlt In accordance with Internatlonal Standards on Audltln8 IUKI 115As IUK)) and appllcable law. Our responslbllltles under those sLandards are furiher destrlbÈd In the Aulllor's fesponsibllliles for the audlt of the (Inanclal Statements 5ectlon of rrtjr report. We are Independent of the Chailly In accordance wlth the ethlcal requlrements that are relevant to our audlt ol the flnanclal statements In thc UK, Includlng the FRC'S Ethlcal 5fandard. and we havc lulflllod our Other eth5cal responslbllltles accordance wlih tliese requlrements. We belle¥e that ihe audli evldence we have obtalned Is 5ufflclent and approprlate to provlde a basls for our oplnlon. Concluslon$ relatlnq to 8olnq concern In audlting the flnanclal statements, we havè eoncluded Ihat the Mernbers of the Board Tcustees usé of the iolng COAtern basls of accountlng In the preparatlon of the financial statements Is approprlate. Based on the work we hllve performed, we have not Identsfied any materfal uncertalntles Telatlnq to events or condltlons that, Indlvldually or colleetlveiy, may cast sl8nlflcani doubl on ihe Charlty's abllliy io conllnue as a golng concern for a peilod of at leost ¢welve months from when th¢ flnanclal Statements are authorfsed for15sue. Our responslbllltles and Ihe re5ponslbllltles ol the Trustees wlih respect ¢0 8oln£ concem are descrfbed in ihe relevant secllons of thls report. Other Informatlon The oiher Infofmatlon cornprSses Ihe Informailon Included In ihe annual report other than ihe flnanclal statemenls artd our avdito¢s report thereon. The Trustees are responslble for th¢ other Inlormatii)n conlaln¢d wlthin the annual report. Our oplnlon on the 1Snanclal statemenis does not cover the other In1￿matIon and we do not express any fom of assurance concluslon Ihereon. Our responslblllty Is to read (he other Informatlon and. IA doln8 so, cortslder whelher the other Informallon is materlally inconslsttnt wlth the fln4ncl41 statements or our knowleilge obtalned In the course of the audlt, or otherwiso appears to be maierlally m155taled. If we Identify such materlal Incon51stenc5es or apparent Inaterial m155tatemenis, we are requlred to determlne whether thls glves rlse to a materlal mlssialemenl In the flnanclal slatements themselves. If, based on the w¢Kk we hpve performed, we conclude that there is a materlal mlsstatement of th15 Other Informatlon, we are iequlred to report that fact. We have noth1￿ to rewi In thls regard. Matters on whlcly we are requlred to report by exceptlon Wo have nothlng to rcport fn rcspcct ol the f(Alow(ng mattors In rdatl¢)n to whlch the Chafiilcs (Accounts and Report5) Regulatlons 20C18 requlre us io report io you If, In our opinlon: thc Inforrnation 8lv¢n In the tru5teos' rcport 15 In(￿SIStenI In any materfal respcct with tho flnanclal Statements., or sulflclcnt accountlng record5 have not bcon kept: or the financlal Statements bre not Ih agreement wlth the ateoth)1Sn8 records. or wc hav¢ not rocelved all the Intorn)ation and explaDaticrf)s we rcquTrc for our audlt. Other matters We noto that thls yeaf the charlty has passed Iho audit threshold lor the flr5t tlme and as Such an audlt has been requSred. For Il)5s reason the comparallve flgures Included In Ihese accounts have ￿ been subjeti to audli. Our audSl oplnlon is not modlfled In respect of th15.

Independent Audltor's Report to the Trustees of the The Marcus Alarlulles Charltable Trust Re5ponslbllitle5 of tru5tee5 A5 explained more fully In the statement of Member5 of the Board Trustee5 re5pon51bllltltrs. the Trustees ol the Charlty are responslble for ¢ho preparatlon of the financial statcmcnts aThJ for belng satisfiod that they glvc a truc and fuir vicw, and lor such Internal control as the Trustees determine Is necessary to enable IhÈ weparatlon ol financlal statemenls that are free from materlal m15Statement. whether due to Iraud or error. In preparing the flnanclal statement5, the Tru5tee5 are re5ponslble for assosslng tho Charity's ablllty to continue as a going concern. dlsclosing, as applicable, mattor5 related to going conccrn and us5ns tl)e goln£ concern basls of èccountino urtless ihe Truslees eSiher Inlend to Ilquldate the cl￿rIlY or lo cease operatlons. or have no reallstk alternatlve but to do so. Audltor's responslblllile5 for the audlt of the flnanclal statements We have been appoinied as audiior under sectlon 144 of the Charities Act 2011 and report In accordance w5th the Act and relÈvanL rÈ8ulallons made or havlng elfecl thereunder. Our oblèctlves are to oblaln reasonable assurance about whether the flnantlal statemenls as & whole are free fffom maierlal mlsstatement. whether due to fraud or errpr, and to155ue an audltoffs report that Includes our oplnion. Rcasonablc a55vrance Is a hlgli level of a55vrance but Is not a guarantee ihat an audlt conducted In accotd4nce wfth ISA5 IUKI wlll always detect materlal mlssiatement when It Èxlsts. MlsslatemÈnts can arlse from fraud or error and are tonsldered materlal If, IndSv5dually or In th¢ oggrcgate, they could reasonably be expected ro influence the economlc declslon5 of users t)ken on the ba51s ol these Ilnanclal statements. The extent to whlch our Pr￿edureS are capable ol detectlng irre8vlJrltles, Includln8 fraud, 15 dctalled below. We galned an understandlnq of the legal arml requlatory framework appllcable 10 the charlty and ihe Indusiry In whlth li operates, and con51dered the rlsk of Jcts by the charlly that were contrary to appllcjbie law5 and re8ulatlon5, includln8 fraud. We deslgned audit prncedures t*J reswnd to the rlsk. reco8n15inB that the risk of not detectln8 a rnaterlal m155tatement due to fraud Is l)liher than the risk ol not detectln8 one resultlng from err￿, as fraud may Involve dellberate concealment by, for example, for$ery or Inienllonal mlsreprèsentstlons, 0¢ th¥ough colluslon. We focused on La￿￿ and reguLailons whlcli could glve rlse io a material Inlsslatement In the flnanclal statemenl5, IncludlnR, but not Ilmlted to, the chadtles act 2011 and UK tax leglslatlon. Our tests Included a8reeln8 the flnènclal statement dlsclosures to undcrlylr)B SUPP¢)rtlng documontatlon and ¢noulrfo& with mana8cmont. Wo dld not Idcntlfy any key èudlt matters rclatln8 to Irregularftks, Includlng fraud, As In all wr audlts, we a150 addressed tho rlsk of management overrlde ol Internal controls, Includlne ies(Ing Journals and evaluallng whelher there was evldencÈ ol blag by the dliectOfS that represented a r15k of materlal mlsstatement due to fraud. A further descrtptlon of our respMJnslbllltle5 Is avallable on thE Flnanclal Reportlng Councll's webslte at,. https: llwww.trc.or8.uklaudlt(X5respon51bllltle5. Thi5 dcscrlptlon forms part of our auditofs roport. U59 of our report Th15 rekX)r( Is made solely to the charliy's trustees, as a bodyi In accwdance ￿lh part 4 of Lhe Charliles IAccounts and Reports) Re8ulatlon$ 2008. Our audlt work has been undertaken so that we mlght Stale to the charlty5 trustees those matters we are required to State to them In an auditoffs rcport and for no other purpose. To the f ullest extent pcrmittcd by law. we do not accepi or assume responslblllty (o anyone oiher Ihan the charlly and the tha￿tY.$ trustees a5 a I)￿y, for our audli vffjrk. for Lhls report, or for the oplnlon5 we have formed. Stephen Hale ISÈnlor Stalutory Audltorl For and on bchalf of Perry5 Audlt Lfmited Chartered Accountant5 Churchd{￿n Cfvambers 8ordyKe Tonbridge TN9 INR Dat¢:

The Marcus Margulies Charltable Trust Statement of Flnanclal Actlvltle5 for the year ended 5 Aprll 2025 Notes 2025 2024 In¢¢me and endowments from Donatlons and legacles Investments 750,000 143,398 112,338 893,398 112,338 Expendlture on Ra151ng funds Charltable actlvltles Actlvlties undertaken Support costs 40,555 36,257 477,494 24,914 805,777 23,414 542,963 865,448 Net expendlture before Investment 8alnsl(losses) 350,435 1753,110) Currency galnsl{losses) Net galns on Investments 27,934 {66.726) 16,762 1,421,978 Net Incomel(expendlture) 311.643 685,630 Total funds at 6 April 2024 12,692,538 12,006,908 Total fund5 at 5 Aprll 2025 13,004,181 12,692,538 All funds are unre5trlcted and relate to contlnulng actlvltle5. The note5 on pages 10 to 14 form part of these flnanclal Statements

The Marcus Margulies Charitable Trust Balancè Sheet as at 5 Aprll 2025 Notes 2025 Z024 Flxed Assets Investment portfolios 9.526,597 13,563,086 Current Assets Cash at bank and In hand Debtors 5,132,142 150,1)00 5,282,142 1,113,252 19,960 1,133,212 10 Llabllltles Credltors: amounts falling due wlthln one year 11 (868.953) (420,5421 Net current assets 4,413.189 712,670 Total assets less current Ilabllltles 13.939,786 14,275,756 Credltors: amount5 falllng due after one year 12 (935,605> (1,583,218) Total net assets 13,004,181 12,692,538 Funds Unrestrlcted Funds 13,004,181 12,692,538 The notes on pages 10 to 14 foTm part of these flnanclal statements Approved by the Trustees and slgned on thefr behalf by: Ma Trustee us

The Marcus Margulies Charitable Trust Statèmènt of Cash Flow Notes 2025 2024 Net cash used Sn operatln8 actlvle5 13 (94,271) (2,418,938) Cash flow from Investlng actlvtles: Dividends and Interest from Investments Proceeds from sales of ir*vestments 143.398 4,346,624 112,338 236,908 Net cash provl<Jed by Investing actlvtles: 4,490,022 349,246 Change Sn cash In the year 4,395.751 (2,069,692) Cash brought forward 1,444,179 3,513,871 Cash carrled forward 5,839,930 1,444,179 Represented by: Cash at bank Cash at broker 5,132,142 707.788 1,113,252 330,927 5,839.930 1,444,179 The note5 Qn page5 10 to 14 forffl part of these flnanclal statement5

The Marcus Margulie5 Charitable Trust Notes to the flnanclal statements for the year ended 5 Aprlt 2025 1 Princlpal Accountlng Pollcles la) Accountlng Conventlon The flnancial statements are prepared under the historical c05t convention and In preparing the financSal statements the charliy follows best practlce as lald down in the Statement of Recommended Practlce "Accounting and Reporting by Charities" (Charitles SORP (FRS 102)) and comply with the Charities (Accounts and Reports) Re8ulatlons 2008 Issued under the Charltles Act 2011. (bl Donatlons, legade5 and 51mllar Income Donatlons, legacles and slmilar Income are shown In the accounts when recelvabte and the value of the Incomln8 re50urce5 can be measured with sufflclent rellablllty. (¢) Investment Income Investment Income Is accounted for In the per5od In whlch the tharlty Is entltled to recelpt. (d) Resources expènded Llabllltie5 are recognlsed as resources expended a5 500n as there is a legal or constructlve obligatlon commlttlng the charlty to the expendlture. All experKllture 55 accwnted for on an accruals basls. (e) Charltable actlvltles Costs of charitable actlvities Include grants made and an apportlonment of overhead and support costs where appllcable, Granis payable are payments made to thlrd parlles In the furtherance of the charltable objectives of the Trust. SSn8le or multl-year grants are accounted lor when either the recfplent has a reasonable expectatlon thai they wSll receive a grant and the Trustee5 have agreed to pay the grant wlthout conditlon, or the reclplent has a reasonable expectatlon that they wlll recelve a grant and any condltlon attachln8 to the grant Is outslde of the control of the Trust. If) Governance costs Governance costs comprlse costs relatln8 to the general running of the charliy a5 opposed to Ihose assoclated wlth generatfng funds or charftable activity. (8) Flxed asset Investments Inve5Lments are stated at closlng markel value at the balance sheet date, Any galns or losses on revalua¢lon and disposal are shown In the Statement of Financlal Activities. (hl Realised galns and1055e5 Galns and losses are taken to the 5latement of Financial Aclivllles as they arlse. Reallsed galns and losses on Investments are calculated as the dlf(erence between sales proceeds and purchase cost. Unreallsed gains and losses are calculated as the diffeTence belween the market value at year end and openin8 market value (or purchase date If later). Real15ed and unrealised galns and 1055es are not separated In the Statement of Flnanclal Assets. (l) Taxatlon The charlty fs exempt from tax on its chariiable activlties li) Forelgn currencles Assets and Ilablllties In forelgn curcencles are translated into sterllng at the rates of exchange rLJling the balance Sheet date. Transactions in foreign currency are translated at the rate of exchange rullng at the date of transaction. Exchange dlfference5 are taken into account in arriving at the operatlng re5uIt. 10

The Marcus Margulies Charitable Trust Notes to the flnandal statements for the year ended 5 Aprll 2025 1 Princlpal Accountlng Policles (contlnued> (k) Golng concern The trustees consider that there are no materlal uncertalnties about the ability to continue as a 8oln8 concern, 2 Donatlons 2025 2024 Donatlons received G6ft Ald recoverable thereon 600.000 150,000 750,000 3 Investment Income 20Z5 2024 Income from listed securltles Interest recelved 83,167 60,231 83,887 28,451 143.398 112,338 4 Ralslnl Funds 2025 2024 Investment managers fees 40,555 36,257 5 Charltable Activities Actlvltles Undertaken Dlrectly (see note 6) Support Costs {see note 7) 2025 2024 Grant making 477,494 24,914 502.408 829,191

The Marcus Margulles Charitable Trust Notes to the flnanclal statements for the year endèd 5 Aprll 2025 6 Grants pald or payablè Reglstered Charlty No. 2025 2024 Alrna College Alzhelmers Research UK Jerusalem Foundation Jenjsalem FoundatTon Llmmud National Llbrary of Israel Rabbl Sacks Legacy frust Shaare Zedek UK (USD 3,600) The Wlener Holocaust Llbrary Western Maf ble Arch Synagogue IL 1077089 258306 258306 1083414 IL 1152781 1143272 313015 1154188 18,000 250 39.582 714,740 50.OIJO 5,000 100,000 3Z4,000 2.879 25,000 2,365 1,455 477,494 805,777 These were In addltlon to the followlng grants pald as part of multl.year commltments, already accounted for In prevlous year's Financial Statefflents: 2025 2024 Alma College Jerlbsalem Foundatlon IUSD 1,000,000) Shaare Zedek UK (USD 500,0￿? Natlona( Llbrary of15rael IL 258306 1143272 IL 36,000 18,000 798,355 392,249 300,000 408,604 444,604 1,508.604 7 Support Costs 2025 2024 Accountancy fees Prior year under accrual Independent Examinerfs fees Auditorfs fees Legal fees Prlsm admlnlstration fees Bank fees 4,800 1,200 4,800 1,050 5,940 5.408 7.200 366 9,907 7,200 457 24.914 23,414 12

The Marcus Margulles Charitable Trust Notes to the flnanclal statements for the year ended 5 Aprll 2025 B Investments 2025 2024 Market vaLue at 6 Aprll 13,232,159 12,047,089 Acqulsltfon ¢ost In the year Proceeds from dlsp05al5 1.478.716 (5,825.340) 960,317 11,197,225) 14.346,624) 1236,908) Reallsed gainsl (losses) Movement In valuatlon 2.208.759 (2.275,485) 160,254 1.261,724 {66.726 1,421,978 Market value at 5 Aprll 8,818.809 13,232,159 Cash held wlthln the Investment portfollo 707,788 330,927 Total value of portfolio at 5 Aprll 9,526,597 13,563,086 A holdln8 of Fundsmlth Equity Fund I Class Income units represent5 35% of the value of Investments held at S Aprll 2025. 9 Cash at bank and In hand 2025 2024 Barclays Barclays Treasury Deposit Cazenove Coults 23.194 1,100,1)00 4,002,630 6,318 901,706 211,546 5,132,142 1,113,252 10 Debtors 2025 2024 Marcus Margulle5 Glft Aid recoverable Dividends receivable 150.000 19,860 150,000 19,960 13

The Marcus Margulies Charitable Trust Notès to the flnanclal statements for the year ended 5 Aprll 2025 11 Credltors: Amounts falllng due wlthln onè year 20Z5 2024 Accountancy fee5 Independent examiner's lees Auditor's fees Legal fee5 Grant5 payable less than 1 year 4.800 4,800 1,938 5,940 3,608 854,605 413.804 868,953 420,542 12 Crèdltors: Amounts falllng due after one year 2025 2024 Grant5 payable rnore than 1 year 935,605 1,583,218 13 Reconclllatlon of net movemen1$ lrt funds to nèt cash flow from operatln8 actI￿tIeS 2025 2024 Net incomellexpendlturei for the year Deduct Investment Income Currency exchange galnllloss) Decrea5el (increa5el In debtors Increasel(decrea5e) In creditors 350,435 (143,398) 27,934 1130,0401 1199,202) (94.271) 1753,1101 1112.3381 16,762 (19,8601 {1,550,392) 12,418,938) 14 Related partles None of the trustees received any remuneration or beneflts or re7mbursement of expenses durlng the year. However the firm Payne Hick Beech In which M D Palsner has an Interest, raised charge5 for professaonal Se￿CeS to the amount of £5,408 {2024 . 19,9071. 15 Related party transactlons Anthony Landes Is a Trustee of the Welner Holocaust Library. Durlng the year a grant of £25,000 was made to the WeineT Holocaust Llbrary12024: Nill by the Charity. Additionallyi a donatlon of £324,OIXI was made to Rabbl Sacks Legacy {2024.' Nil) by the Charity, where Elliott Goldstein serve5 a5 a Dlrector and Chalr. 14

The Marcus Margulle5 Charltable Trust Appondlx 1. Schedule of Accrued Grants Llablllty 2. Summary of Investments 3. Schedule of Invesiments 5 Aprll 2025 15

The Marcus IAargulles Charltable Trust ruid C•rts Llabllltyfor the y••r ¢nded 5 prll 2025 Valane• at fy Apfll 2024 trl•w Llablllty In y￿1 Payfflefits In th& y•4r Cury•ncy Loss 1 1615Th1 balanc• at 5 APAI 202$ Alma Colle8e Je¥usilem fouThl)tlon re eotinkal Girdons Ih¥lll¢nl U50 2,fAKI.Nkl 791,60B.95 118,(￿.)4} 773,604.61 R8bbl Sacks Le84cy Tiusl Shaare Zedek14>Jtpallent cllnkl GBP 324,(i¥) U50 2.OXI.IJXI 314,iW.IXI 243.(KM).I 773.604.61 1.187,413.42 1406.60).561 15.205.251 1,997,022.J7 J24,¢XK).iXI 1507,603.561 123,209.59 1.790,209.22 Yt•r End¢d 5 Aprll 02 Joru5alÈm fouTrJailOD re 6ounlcal Gardens IPathllonl J86,802.31 773,60rf.61 Rabbl 5•¢k5 LeiJ¢y Tiusi Shaarè Zedek leutpatltnl cllnkl fjBP 3Z4.L4XI USD I.(W.iXYJ 81.fAI).(i> 366.802.31 243,1W. 773,601.61 J16.802.31 8Y.0fy1,61 854.004.61 B1,C(Kl.Cl) 1,790,209.22 P8ymeniS lalllN¢ vAthln ytar Payments lalllTh8 duè afLerone year 854.IK14.61 9)5.601.61

The Marcus llargulles Charltable Trust Summjry Of Imv45tnKniS for th y¢¥ efid¢d 5 Awll X125 Markèt Value 6 Aprll 2024 UNr•allsd AlaFk•t Value Oook Valufr ProllVILo551 Pr•lltllLossl 5 Ayll 2025 5 Aprll 2025 Incom• Tr•D5fers Addltlons Dlsposats 2025 Navera Iformirly Mtrldleml Fundsmlth 5.149,077 8.083,081 1,478.716 825.340 5,000,000 126.091 1.012.661 IZ04,5891 11.070.896) 5.713.956 3,094,853 4,845,541 2,068,798 56,992 26,174 13.Z32,15U 1.478.716 5.825.340 2.208.7511 12,275,415) 8,811,809 6,914,J42 3,166 The fdlowlni Inv¢sirn¢nt> repruenl 5%or greoter of thv ovtfall lThveJtrnenl prytldlo.. Warket V•lup Atsrkèt V&lu 20Z5 Mark•t Value I￿rket Value 1024 Z024 Port(olkt 2025 Fundsmlth Eqth¢Y Fund I Clèsi hK 3.094.853 35.1% .(43,081 61.1% Fund5mlth

The Marcus Marqulles Charltable TN$t lthv•ra (IN￿l￿AlK￿ll•rnI Sch•thJl• of lTr¥e5fftnts Ivr yeuendeo 5 Iprll 2015 Lknl V4r VrA V•1 0opltrlMJ.frJl IIIDIAOII Q6.Apr.I4 )1.￿1 X511 a5.W.Ib Jlthl ityj Ir•).¢• &4JFSE l.ni I1￿)1￿* 00 W.Z4 O>Aw.1S bllwé ity). blho 19.S¢p Jl .71 Ir•)mJ ,)R ￿￿.125% 1411J1141è 110 ii)n 14.Ot<.14 IW.D

The Marcus Mar¥ulles Charltable Trust IlaY•ra IP4rf•èm}Sth•dL4• oflnvKtffl•Ab iorth• yw •ndaO 5 Aprfl 1025 C4%t (OKQIA I.IS% JlmlZOI 01.74 hir i(0 ioj. 1.1 oJ.w.is 7S is.tt¢ ill ii,p) 0&.￿1.14 blld 05.191.15 clfiyd 0s.Api.14 bltsd Pfwi¢vlK).1%2tIOT12QIg Ji4 05.kn.X 7a271 1•3.ni 7) I•Km Q5.*4t.15

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