**REGISTERED CHARITY NUMBER: 1159609**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **FOR**
## **CRAIG HOFMANN CHARITABLE TRUST**
Xeinadin Swiss Cottage Limited Harben House Harben Parade Finchley Road LONDON NW3 6LH
**CRAIG HOFMANN CHARITABLE TRUST**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|9|
|**Detailed Statement of Financial Activities**||10||
**CRAIG HOFMANN CHARITABLE TRUST**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024**
The trustees present their report with the financial statements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of 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).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The trust was formed to provide grants for any charitable purpose deemed worthy by the trustees. The unemployed capital of the trust is to be used to make investments. Grants may be made from the income generated by these investments or from capital at the discretion of the trustees.
## **Public benefit**
In accordance with section 17 of the Charities Act (2011), the trustees have given careful consideration to the Charity Commission's general guidance on public benefit when deciding which activities the trust should undertake.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The trust continued to make grants to various entities linked to arts and social issues. During the year the trustees have examined requests from a large number of charitable organisations and have made grants amounting to £67,095 (2023 - £43,775 ) to 16 different organisations.
## **FINANCIAL REVIEW**
## **Financial position**
The total funds of the trust as of 30th September 2024 amounted to £756,681. This represents a £133,600 deficit over the value of the trust's funds as at 30th September 2023. The total value of the trust's funds would currently be sufficient to continue its charitable objectives at the current rate for over 12 years even with no further income.
## **Investment policy and objectives**
The investment strategy is set by the trustees over a period of five years and takes account of recent demand for funds. The trustees consider the income requirements of the trust, the trust's risk profile and uncertainty of the equity markets in the medium term. The strategy is set within an overall policy which states that the fund is to be invested in low and medium risk investments.
## **Reserves policy**
It is the policy of the trust to maintain its fund in long and medium term investments and to generate regular income to meet its annual expenditure. In addition the trust ensures it maintains sufficient liquid funds to respond to emergency applications for grants which may periodically arise.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The trust is an unincorporated charity, constituted under a trust deed on 9 December 2014 and registered with the Charity Commission. The trust was established by an initial donation from the estate of Aloisia Hofmann. The trust does not actively fundraise and seeks to continue its philanthropic work through careful stewardship of its existing resources.
## **Risk management**
The trustees have assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1159609
## **Principal address**
3 Hendon Avenue London N3 1UL
Page 1
**CRAIG HOFMANN CHARITABLE TRUST**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **Trustees**
K A Craig Mrs L B Craig T A Craig
## **Independent Examiner**
Xeinadin Swiss Cottage Limited Harben House Harben Parade Finchley Road LONDON NW3 6LH
Approved by order of the board of trustees on 15 July 2025 and signed on its behalf by:
K A Craig - Trustee
Page 2
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CRAIG HOFMANN CHARITABLE TRUST**
## **Independent examiner's report to the trustees of Craig Hofmann Charitable Trust**
I report to the charity trustees on my examination of the accounts of Craig Hofmann Charitable Trust (the Trust) for the year ended 30 September 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
3. 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.
David Myerson FCA The Institute of Chartered Accountants in England and Wales
Xeinadin Swiss Cottage Limited Harben House Harben Parade Finchley Road LONDON NW3 6LH
15 July 2025
Page 3
**CRAIG HOFMANN CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024**
**----- Start of picture text -----**
2024 2023
Unrestricted Total
fund funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Investment income 2 57,104 42,930
EXPENDITURE ON
Charitable activities 3
Grant making 71,112 47,339
Net gains/(losses) on investments (119,592) (90,565)
NET INCOME/(EXPENDITURE) (133,600) (94,974)
RECONCILIATION OF FUNDS
Total funds brought forward 890,281 985,255
TOTAL FUNDS CARRIED FORWARD 756,681 890,281
**----- End of picture text -----**
The notes form part of these financial statements
Page 4
**CRAIG HOFMANN CHARITABLE TRUST**
## **BALANCE SHEET 30 SEPTEMBER 2024**
**----- Start of picture text -----**
2024 2023
Unrestricted Total
fund funds
Notes £ £
FIXED ASSETS
Investments 6 395,749 481,234
CURRENT ASSETS
Cash at bank 363,152 411,207
CREDITORS
Amounts falling due within one year 7 (2,220) (2,160)
NET CURRENT ASSETS 360,932 409,047
TOTAL ASSETS LESS CURRENT LIABILITIES 756,681 890,281
NET ASSETS 756,681 890,281
FUNDS
Unrestricted funds 756,681 890,281
TOTAL FUNDS 756,681 890,281
**----- End of picture text -----**
The financial statements were approved by the Board of Trustees and authorised for issue on 15 July 2025 and were signed on its behalf by:
K A Craig - Trustee
The notes form part of these financial statements
Page 5
**CRAIG HOFMANN CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Financial instruments**
The trust only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and investments in equity instruments.
Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price unless the arrangement constitutes a financing transaction where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Other financial assets such as investments in equity instruments other than subsidiaries, associates or joint ventures are initially measured at fair value, which is usually the transaction price. Such assets are subsequently carried at fair value with any changes in fair value recognised in profit or loss except where the instruments are not publicly traded and their value cannot be reliably measured in which case they are measured at cost less impairment.
Basic financial liabilities including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method.
continued...
Page 6
**CRAIG HOFMANN CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **1. ACCOUNTING POLICIES - continued**
## **Financial instruments**
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **2. INVESTMENT INCOME**
**----- Start of picture text -----**
||||
|---|---|---|
|2024|2023|
|£|£|
|Income from Listed investments|51,562|31,729|
|Deposit account interest|5,542|11,201|
|57,104|42,930|
**----- End of picture text -----**
## **3. CHARITABLE ACTIVITIES COSTS**
**----- Start of picture text -----**
|||||
|---|---|---|---|
|Grant|
|funding of|
|activities|
|(see note|Support|
|4)|costs|Totals|
|£|£|£|
|Grant making|67,095|4,017|71,112|
**----- End of picture text -----**
## **4. GRANTS PAYABLE**
**----- Start of picture text -----**
||||
|---|---|---|
|2024|2023|
|£|£|
|Grant making|67,095|43,775|
|The total grants paid to institutions during the year was as follows:|
|2024|2023|
|£|£|
|Hampstead Theatre|31,500|30,500|
|Donmar Warehouse|4,720|1,000|
|-|
|Deafinitely Theatre|1,000|
|-|
|The Young Vic Theatre|4,000|
|Crisis UK|1,000|-|
|-|
|Hampstead United Synagogue|5,750|
|Grange Park Opera|375|375|
|Goods for Good|1,000|1,000|
|Glyndebourne Opera|2,700|2,700|
|Almeida Theatre|5,600|-|
|Grange Festival|600|600|
|Royal Shakespeare Co|1,000|1,000|
|MGC Futures|5,000|-|
|Chichester Fest Theatre|-|1,000|
|New North London synagogue|1,600|600|
|Debra UK|-|1,000|
|Advocate|-|1,500|
|University Jewish Chaplaincy|-|500|
|-|
|Womens Prize for Playwriting|1,000|
|New Israel Fund|1,000|-|
|Theatres Trust|1,000|-|
|Lord Mayors Appeal|250|-|
|67,095|43,775|
**----- End of picture text -----**
continued...
Page 7
**CRAIG HOFMANN CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30 September 2024 nor for the year ended 30 September 2023.
## **6. FIXED ASSET INVESTMENTS**
|**FIXED ASSET INVESTMENTS**||
|---|---|
|**MARKET VALUE**
At 1 October 2023
Additions
Disposals
Revaluations|Listed
investments
£
**481,234**
**130,784**
**(107,759)**
**(108,510)**|
|At 30 September 2024|**395,749**|
|**NET BOOK VALUE**
At 30 September 2024|**395,749**|
|At 30 September 2023|481,234|
There were no investment assets outside the UK.
Cost or valuation at 30 September 2024 is represented by:
|Valuation in 2022
Valuation in 2021
Valuation in 2023
Valuation in 2024
Cost|**Listed**
**investments**
**£**
**(146,890)**
**(20,712)**
**(92,359)**
**43,692**
**612,018**|
|---|---|
||**395,749**|
continued...
Page 8
**CRAIG HOFMANN CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
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||||
|---|---|---|
|2024|2023|
|£|£|
|Other creditors|2,220|2,160|
**----- End of picture text -----**
## **8. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 30 September 2024.
Page 9
**CRAIG HOFMANN CHARITABLE TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024**
**----- Start of picture text -----**
2024 2023
£ £
INCOME AND ENDOWMENTS
Investment income
Income from Listed investments 51,562 31,729
Deposit account interest 5,542 11,201
57,104 42,930
Total incoming resources 57,104 42,930
EXPENDITURE
Charitable activities
Grants to institutions 67,095 43,775
Support costs
Finance
Bank charges 710 685
Governance costs
Accountancy and legal fees 3,307 2,879
Total resources expended 71,112 47,339
Net expenditure before gains and losses (14,008) (4,409)
Realised recognised gains and losses
Realised gains/(losses) on fixed asset investments (119,592) (90,565)
Net expenditure (133,600) (94,974)
**----- End of picture text -----**
This page does not form part of the statutory financial statements
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