Chanty number: 1160879 MURIEL AND GERSHON COREN CHARITABLE FOUNDATION UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
MURIEL AND GERSHON COREN CHARITABLE FOUNDATION CONTENTS Page RefereDcè and adminlstrative dfrtalls of the Charty. Its Trusl•es and advlsern Tru8t•os' rèport Indèpendent examln•Vs report Stat•m•nt of fln•nclal adlvltles Balanco •h••t NolE¥ ILTr Ui* flnanGlal •t•t•m•nts 8-16
MURIEL AND GERSHON COREN CHARITABLE FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED S APRIL 2021 Trustees Anthony Coren Waller Slanlon (deceased 28 August 20211 Graham Weinberq Stephen Stanton lappointed 29 October 2021} Charity registered numbèr 1160879 Prlnclpal offlce and registgred address Wnslon House 303 Dollis Park London N31HF Indepèndent Examlner Yogan Patel MHA Maclntyre Hudson Chartered Accountsnls 2 London Wall Place London EC2Y SAU Investment advlsern Canaccord Genurty Wealth Limited 41 Lolhbury London EC2R 7AE Page 1
MURIEL AND GERSHON COREN CHARITABLE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2021 The Tnjslees present therr annual report together the finandal statements of the Ch8rity for the year ended 5 April 2021. The Trustèes havè adopted the provi%M)ns of tha Statamanl of Recommended Practiee ISORPI 'Accounling arKI Rewt"r@ by ChArikn' (FRS102} In Preparing tho ¥nnual report and financial ststemenls of the Chanty. Oblecllv65 and actlvltlos . Purpo$¢ •nd obJ•etlv•s Tha purpose of the Cholity, as per ils Constitution. is for the benefit or in furtheranc8 of such Chatable PrySe as ar• •xclustvoly charitablo according io th¢ laws of Cn9land and INale5. Gharitabl¥ ilil>tilutiuii¥ vi charilahlA frnind31ions and in such mann•r and in such proportims a¥ tho TILtee8 may from limè to tim? in their div.r•tinn (1rmIna. Th• Trust••$ m4y th¥oforè ptsy or apply tho inc¥)me and capital of tht trust fund in $uGlI Inuiiiivr Ili¥y IhlnK fft trt nr for tho b•ngfft of Any charitsblè objo¢t or purpooo. b. M•ln ¢tlvttl¢• undort•k•n lo lurth•r th• Charlty• pufjJo¥¥8 fvr the publlc bgneflt The Chorfty is a grant maklriy Lai¢rlty ciiid 50 does noi work alrecily wlth vulnerable groups bul may fund other or9onltsolion8 that do. Grant ap•catn5 ai¥ wii¥i¢J¥i¥d by the Twstees on their meNts. Th• Tn¥¢ h•v• pMr¥ lo invotst tho trv¥t fund in any assets thjl thvy rm51d ¥pwwiluL¥. Tli¥y have AppninlAd e.anaecord G•nuity W•allh Limitod OG tho Trusv? inveJtment adviaorn and all IntMe17(& dr¥ reoislered in thp.ir nNminAA company. The Trusls meet reoularty lo.. - Assess the perfomance of the investrnenl tortfolio.. Discuss the general areas in which fur¥Js will be applied- and - Lonsiaer potents.al grants. c. Publlc Benollt In setting objeciives and rdannlng for aclivilies. the Trustees have gNp.n tliiA Mn%ideration to gèngral guidgnc• published by the Charity Commission relalino lo public benefit. iding the ouidance 'Publir hftnp.fit' ninning a charfty {PB2}'. Achievomènts and p•rfornian . Maln achlevements of th• Charity During thp ypar, Ihp c.harity mado gr*nts to ehgrilgblè instiiutionc of £70.000 (2020.. £125.3001- rurther details can be found in Note 6 to thp finRnrial statemènts. Page 2
MURIEL AND GERSHON COREN CHARITA8LE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED S APRIL 2021 Financlal revlew Flnanel•l rnvl Dudn9 the year. the Charity re¢eived inwnlng reSr[w of £72.486 {2020". £91,8431. Admlnistration costs and ¢))sls ol raising funds were £38,132 {2020'. £40,310) and granls paid were £70,th (2020.. £125,300) resulting In net oufflows of £35.648 {2020'. £73.7671. During the year the Charity had realis net g8ln$ of £21,626 (2020: losses of £77,230) disposal of Inveslmenls. At S April 2021 thè value of the Charity hjnds were £2.082,930 {2020.. t1.801,5721. being èxpendable 9ndonI funds of £1.843.021 12020: £1.1? 47?) And general fvrbd$ of £239.90912020.. £Nil}. The Trustees consKter that the Chadtrfs perfomance in the p81irKI has hA4n Atisfaetcry. Pnor lo the ygar-end. the Charity received a sum of £808,376 into the bank. This deposit repre$ftnts dSvSd$nds ¢Jue io Ine tsershon Coren Chantse Foundation, whth was banked in error lo the 8ccrJJnl of the Uiiripl Arrt Gershon Coren Lhantable Foundatson. This sum has been reecgnised as a credilor du8 in less than one year lid2> been repa lo the correct cttanty in the folknrj financial year. b. Golng COnrn Aft8r making appropriate 6nquiries. the Trustees have a reasonable expectalitsn thHI thA f.haty ha$ Rdgguat• resources lo continue in operational eStenCe for the foreSeeae fvlure. For this reason. Ihfty effjnllniig 10 auopi me going concem basis in preparing the financial statemonts. Further detalls regavding the adoption nf ihe golng concem basis can De found in the a¢¢ounling policies. c, Ko•erv•• pollcy In line wth the Tru$lees' intention to maintsin the Lwalllng level of charitAblf (l¥rl1tuf9, th• l•v•l of reserves held Is nSIdered adequate. Al preseni, fvnas have Doen eamwrked lor Spear grants. Stwcture, govèrnan¢• and mnagem•nt a. Constitutlon Muriel & Ggrshon Coren Charitable FOulatIOn is a f.hAritxblÈ Incorporaled OrganiÈation and o r¢918tered chafity, number 1160879, and is oovem&J by its Constilulion 10 March 2015. b. Methods of appolntment or elèctlon of TnKt••s The Charity is manAoArt by tts Trust# AB Sot out on pa9e 1. All the tFUSt•es act in an honorary cawitAIy. The Trustees have the mr to apwnl nr tArniinatè thg appoinlm•nt of Tru$t¢ès. Ncw Trustees would be required to attend appropriate trainirvJ o)urses. Page 3
MURIEL AND GERSHON COREN CHARITABLE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED S APRIL 2021 Structur•. gov•rnan¢¢ and manag•m•nt (contlnu•dl c. Flnanclal rlsk managèmènt The Tru$lees have assessed the major risks to vthich thè Charfty is oxpjsad, in p8rtieular thoso rèlatad to th¢ OP8rations 8nd fin8n¢8s of the Charity. and are Satisf that systams aThJ pedur8$ ar8 in plac8 to mitiggta exposijre to thè major rfsks. Sl•tsm•nt of Trust••s' r•sponslb11ft50¥ Th• Truttees are responsiblo for proporin9 th¢ Tru1¢0. roport ond tho finaficiol ototornontts in ts¢)cordanoo wth applicabl• law ar Unit•d Kingdom A¢counlin9 Standard8 (Unit•d Kin9dom Gonor8lly Accoptod Accounting Pfaelic•>. Tho It)w OpplibI¢ to Char¢8 in England & Wal•J requits the Twstetss to prepare financial Jtatèments for ¢aeh financial yoar ¥thich give a true ond fair view of thc 3tatc of affairs of thc Charity and of it3 incomin9 r•$ourc• ar application of r•sour¢•8. tneludin9 its irKom• and •xp•nditUf•, for that p•riod. In pr•parln9 thesg fingncigl gtgt•m•nts. the Trust99s ar9 r9quirgd lo.. s¢le¢t suitable 8(cJunlirvJ p)licaes and then apply thom consistonlly.. observe the methods and principles of the Charities SORP {FRS 1021: make judgments and accounb'ng estimates that are reasonable and prudent.. stal8 whether appliCae UK AtLountiThJ srards {FRS 1021 have beon followod, $ubj¢¢t to any mat8rial departures disclosed ar explained in the financial slalements: ppare the financlal statements on the aoino concem basis unless It Is Inapproprlale lo presume that the Charity wll ntinue in business. The Trustefts 8rA fnr kMIpiThJ AdMiixtA xfAintirio rArmtlx IhAI xrA Rirffie.IAnl IA *hrpw AxpIAin the Charfvs tr8nsaclions and di5cb)se vthh reasonable aCra at any lime the financial position of the Charity and enable them lo ¢nsvre thal the financial slalemenls comply with the Chariltes Act 2011. the Charity IAc(xxints and Reports) Requlalions 21)08 arKI ihe provisions ol the Trusl deed. They arg also sponsible for safeguarding the assets of the Charity and hence for lakiw reasonable steps for the prevenuon and detection of fraud and other irregularities. Approved by order of the memberg of the board of Tnjstees and stgned on their b8haW ty. Graham Weiniierg Tnjstee va. 1st loLI Page 4
MURIEL AND GERSHON COREN CHARITABLE FOUNDATION INDEPENDElff &XAMINERE REPORT FOR THE YEAR ENDED S APRIL 2021 Independent •xaminerfs report to the Trusts9$ of Murlel and Gershon Coron Charltable Foundatlon Ilhe Charlty'l I report lo the charity Trustees on my examInan of the act¢yJnts of the Charity for the year erKled 5 4>nl 2021. Responslbllltles and ba$ls of report As the Trusloes of the Charity you are reSpOnt for the preparauon of the accounts in accordance with the requiremonts ol the charis Act 2011 Ilhe 2011 Acri. I report in respèet of my examination of the Chariirfs ae&)unts carried under section 145 of 2011 Act and in carrying out my examinat¢on I have follow the applicab Directions aiven by the Charity Comml8slon under sectlon 14515)Ibl of the 2011 Act. Ind•p•ndent examln•rf$ statement Your attention Is drawn lo the fact IhÈl Charity has prepared Ihft aemijnlq in xrrJ)rdAnrn with Arcountin and Reportinq by Charitses.. Sialemonl of Recommended Practice appficable lo rhxritifis prnpHrino IhASr accounts in accordan¢e with the Financial Rerortinq StsThJard ao9licable in the UK and Republic of Ireland IFRS 1021 in Preference to thè Accountsng and Rewrtiro by Charilies: Statement of Recommended Practlc8 Issued on 1 April 2005 which is ffjferred lo in the extant regulations bul has been wilhdtawn. l understand that this has been done In tydgr for the a(y))unts lo provlde a trne and falr view in accordance with the Gener8lly Accepted Aecounting Practice effe¢livg for reporbn9 wriods beqlnnlno on or 8ftar 1 January 2015. I have compleled my examination. l eonfiThn that no mattern have come to my attentlon in rnnCtIOn wllh the examination giving mè cause to beIve that in any mateiial respect.. accounting records were T1 kept in respect of Ihe Charity as required by sectlon 130 of the 2011 Act.. or the aOnIS do not aGcord wlth reGoYds, 01 the accounts do not comply wfth the applicable requirements concemino the form and rnnlp.nt nl a¢(r)unts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement Ihal the accounts give a INe and fairf view 4thith is Tr)t a matter cJ)nsidered as part of an Independent txaminats'on. I hav• no conGern5 and have )$& oiliw ITllerS In wlth the examlnaiion w 1¢h attention shoukl bè (Irawn in Ihig retwxt In to uvKlws¢andlng of the a¢urts to be rba(ed. 'gned.' Ddlfxl.. 8 November 2021 Yogan Pald FCA MHA Maclntyre Hudson. 6th Fk¥*. 2 London Wall Pl. LorKlon, EC2Y SAU P8oe 5
MURIEL AND GERSHON COREN CHARITABLE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED S APRIL 2021 Vnre5trtcted Endowment funds funds 2021 2021 Tt>tal fvnds 2021 Tot81 funds 2020 Note Income and endowments from: Inv8Stments 72,486 72,486 91,843 Total Income and ondowments ExpondltiJr* on: Rai8in9 funda CharltrIe actNIt18S 72,486 72,486 91,843 35.120 73.012 35.120 73,012 JT,610 127,940 Ttst•l •xpondltur• Net expendlturo beloro net gainsl{lo$$esl on Invtstrnent• 108.132 108.132 165,610 (3S.648) 275,555 (3S,646} 317,004 173,767) (399,437) Nel galnslllossesl on invesknents 14 14•t movAmont In lund# R¢¢onolll•tlon ol fvnds. Tal funds broughl forward Nel movement in funds 239,909 281,358 (4T3,204) 1.a91,572 41,449 1,801.572 281,358 2,274.776 (473,204) 239.909 Total funds ¢•rrled forward 2Yg,909 1,843.021 2,062,930 1,8or,JT2 The Slalement ol financial activities iThludes all qalns and losses recc¥Jnis8d in th# y8ar. Atl Irbcome and expendllurè derives from continuirnj adivilw. The n91 uwi ya9e5 8 to 16 fom pan ot ihese finarKial Ststements. Pago 6
MURIEL AND GERSHON COREN CHARITABLE FOUNDATION BALANCE SHEET AS AT S APRIL 2021 2021 2020 Flxed assèts Investmènts 1.087,747 1,431,078 1,987,747 1,431.078 Current assets Debtors Inv•stmonts CÉ*bli ill bdnk and In hand 1,6S7 30f.029 81,170 12 26,011 591,036 917,847 383,856 Cr¢ditors.' Am¢)unts f8llk)g duo within on year 13 {822,6641 (13,362) N•t ¢urr•nt a•••ts 95,183 3TO,494 Total nel ossets 2,082,930 1,801,5T2 Gharlty funds Endowmenl fijn UnroGtrl¢tod fun¢J$ 14 1,843,021 239.909 1.801,572 14 Total luiid¥ 2,082,930 1,801,572 Th• finand81 ttslgment8 wor¢ opproved ttrKI Juthori8ed lor issu¢ by the Trustoes and S¢1 Ili¥lr tJ¥haN by. Graham ¥V•lniierg Trustee Dale.. 1st UL 2911 The on pages 8 10 16 fom part of these finarKTral statements. Pagè 7
MURIEL AND GERSHON COREN CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2021 G•n•ral infonnation The Muriel and Gershon Coren Charitablè Ftyjndation is a Charitable Irthrporated Oiyanisalion. registered charity llUMr 1160879. with thè Charity Commission in England and Wales. In the event of the Charity being wound up. the Itabllity in resped of the guaranta• is limited to £1 per member of the Charity. The registered office i8 given in the Charriy inf0MlI0n on page 1 of theso financial statements. The nature of the Charity's operations and principal activity is for the bgngfit of such exclusively charilable objects and purpo as the Trustees In their absolute discx8tlon think fit. Accountlng pollcles 2.1 Basjs of pr•paraiion ol Ilnanclal ststsments Th8 fiii¢lllLl¢il statements have Deen prepared in accordan with the Charities SORP (FRS 1021- Accounting aiiu Rwx)rUng ty Chanu"es.' Slalement of Recommended Prath'ce applicable to choritieJ pr•paring Ihfjii dLwurilb in accordance me Pinanaal Reporting Standard applicable In Ihts UK and Republic of Ir¢land {FRS 102) ynd lh8 Chartdes Aci 20JI. Thè financial Btgt•montG have bcon Prepar to give a Iwu¥ aiiu loli. vlew and have departed from Ihfi r.hxritios (Accountg and RoportG) Rogultstion8 2006 only to the ?xlei)I i¥quii¥il lu provlde a 'tw¢ and fail vipw ThiR dopgrtur• has invglv•d following Iho Ch8ribe? oorip IrRS 1021 yubli&li¥¢J Iii October 2019 rather than thA Accountin9 gnd R•portin9 by CharicO: Statement of fie¢¢)mm?nded Piactice effective from 1 Apnl 2005 whieth sinco bg•n withdrawn. Muriel arvj Ge1$) Charilable Foundation meets the dpfinilinn rtf a PLiblie b•n•fil •ntlty under FRS 102. Assets and liabilities are initially recoonised at historical cost or IrAngartinn v4111• unless otherwlse staled in the relevant accounts.ng policy. Tlw finandai Sments are prepared in sterling whth is the functv)nal cJJrrency of the Charity. Thè ai9nlficant a(wuiiUng Wldes appl1 In preparat of thes8 financial statements are set out below. 2.2 Golng eon¢•m The fin¥tnttial slg1om•nts havg 1)9on preparod on a 90in9 con¢em basis as the Tiu¥iv¥b bElbEve that no matenal uncertaintifis Axlst. The Tru$t$ havè ¢onc+idercd tho level of funds held and Ihe expected level of income Anrl p.xrs@nditur( for 12 month# from authorigtng theae financial slalemenls, induding the impact of Covid-19 Th8 Ixidgètod incom• ar 8xp8nditure is tsufficient with the level of reserves for the eharits to be able to (rmtiniip. gs a going eonc•rn. 2.3 Income All Income Is recc3nised On the Charity has enttdement to the income, It Is probable that the IFlfDme wlll be received an(J the amount of income receTrvable can be measured reliably. Don8tion5 èi¢ a(¢ for on recerpt ol Ihe aonatN)n. Investment inGome FS a)•1[¥ for In the perlod In vmi¢* the thanty becomes entitled to receive it and ie r1 rcstricted. Ineorng tax rgcov0ra0 in latiOn to inveslment i¥ rerAyiIsl at ihe tlme the Investmeni InM9_ 48 ree@ivablè. Pa90 8
MURIEL AND GERSHON COREN CHARrtABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2021 Accountlng policles {contlnuod) 2.4 Exp•ndltur• Expenditure Is Teccgnlseo onc there is a legal or )nStruCtIve ¢)bligatlon to transfer ec4)rK)mlc benefit lo a third party. il IS Qbale that a transfer of economlc benefits will be required in settlemenl and the amount of the obligation can be measLFred reliably. Expendilure is classified by aclNity. The costs of each activity a made up ol the lolal of dire¢1 costs and shared costs, Induding support co$t$ invofved in undertaknng eath activity. Direct cLJsts atth"butablè to g single activity are allv3le(l (Jir8dy to that activity. Shaffjd costs which contribute lo more Ih8n one Ae.ivity and siipptjt ¢05ts 4¥hich a not attributabk to • •irtg19 8ctNity ar• gpportiDn•d b•tw••n those activitie$ tsn a hasi8 ernqi81gnl with Ihè use of rewJrces. Ex06ndilure on raising funds inchJks all exrndilum iwJiThAd hy f.hArity In ral%8 fund$ for it$ charitatAe purc. Expendre on charitable activi1$ i8 inojrred on dire¢Uy undertaknno the actfvllies which further the Charity's oble¢tives, as well as any associat¢d supwi costs. tsranls payable are charged in tha yoar vthen the offer Is made except in those cases wh8re the offer Is condilionai, such grants being recognised as expenditure when the conditions attaching are fuiniieo. Granis offereu $uOlea io conaiiions wni¢n have not been met al the year en¢J ar& nol6d as ¥ wiiiiiiiIITi¥nl, bul not acc¥ue(l as expendiiure. l •xpéndiiur• 13 indu8ivè of irrecoverable VAT. Th• Charity had no •t•ff in •ith•r raportin9 ri9. 2.5 Interèst rl¥abl• Int6r8sl on funds held on dewslt Is induded eft receivable and the amount cèn be mè#%iJT8rf reliably by the Charity.. this is normally uron notification of ihe interest paid or payable by the insbtijtion vKth vthom Ihe funds are de[lled. 2.6 Taxatlon The Gharfty Is considerea pass Ihe iests set IYK in paragraph 1 Sche(Jule 6 of the Flnanco Act 2010 ¥ntJ IherefDVV It meets Ihe ijeflnluon of a charrtable comp8ny lor UK Corporal) purposes. Acroidingly. Uiv Cliaiily li pt)lenlially exetnpl Irom taxatlon In respect of Income or capiial galns r¢G¢ived within Gategories covered by Chapter 3 Pail 11 vl Uiv Cuiwialivii Tox AGI 2010 or S¢¢tion 2 of the Taxabon of Chargeae Gains AGt 1992, tr) the extent thal 3uGh iiiGoin¢ Vl y<iliib arè applied OxdUeIY to Choritable purpoJeg. ?.7 Inwstmènts Fixed asset investments are a form of financial irLqlnJm*nt Xfwl initiAlly re(xiJr nised gt tholr transaction cost and subsequenlly rrtasured al fair value al the Balance sheet dale. unless thp value cannot be measured reliably in which case il is measured al Cost less impairnient. Investment gains and k)sses. whether realised or unrealised, a combined and presented as 'GainsllLosses) on inveslments. in the Statement of financial acVe$. Paoe 9
MURIEL AND GERSHON COREN CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 Accountlng pollcles (contlnuedl 2.8 Dèbtors Trade aThJ other deblC¥5 are recognised at the setuement anUnt after any tr discount offered. Prepayments are valued al Ihe amount prepaK1 net of 8ny trade di8c(yJnts dLTr8. 2.9 Ca¥h •t bank and In hand Cash ot bank and hand indLths c•th and short-lerm h4ghly Ihiuirj investments with a short moturlty ol thrw month¢ or 1•66 from thg date of a4uiGilion or oponin9 of tho dopotsit or 8imilor aeeount. 2.10 Llabllltla and provlsloTr• Li8bllllies are recconised when there is an oblwJation at the Bal8nce sheet dale 89 8 rèsult of a past event, it is prObae that a transfer of economic benefit wll te required in setuemènl, and thè amount of the SettIerrn1 can be estimated reliably. Llabilities are recojnised at thè am¢)unl that the Charity antidpales il wlll pay to settl8 tha dèbt L¥ the amount rt has receiv9d as thanced PaYnts for the gcths or seNi¢es it musl provide. ProvIsnS are measured ai me Dtrst estsmate ot the anTr)unts requlred lo setve the oblKJalion. Where ihe effea of the time value of money Is matertal, the provision Is Das¢¢ on me present valLW vl lJiv¥¥ aiiwiil¥. UibLJJuiil¥(I dl Ili¥ pre-tdx dlsLvLFni raie thai reflects the rtsks speclflc to Ihe liability. The unwinding of th• dInI IgTr rwnkryed in U)e 8talement oi fiiioii¥l#l ots15vlll¥¥ E¥ finon¢fj ¢oot. 2.11 Flnanelal In•twm•nt• The Charity only holds basic ffinaneixl in8tnJmp.nl.q Aq dp.finpd in FR.% ln? Thfl finAnr.Ixl X%AAlx And finan¢bal liabilities of the Charity and Iheir measurement bases 8re as follows.. Cash al bank is dassified as a basic final instrument and is measured at fact value. Financial liabilities- Ir8de creditors. accwals and othei creditors are financial instruments, ar#J are measured 81 amortised cost as detailed in Note 13. 2.12 Fund accouniing General fund& are funds whld) arv ¥¥ailiiblv fur al Ili¥ dl¥Gretluvi uf the Tw5Eees In furth¢ran¢e of thè general objeGtiv¢3 of th¢ Charity and whith have not been designatod loi olhei Expendablg Entlowment funds rgpr•s•nl thos• Ass•t2 whith mu9t b• hold pomn•ntly by the FAndtn Ixrt can bg. applied on eharitablè a¢tiwbes al the discretion of the Trusteos. Ineom• arising on the endowment funds an be usprl in arrnrdanrA with thA nhiArt* of thg. FniJnd8tion and s induded in unrestri¢ted irme. Investment inco, gains and h)sses are all(al to the appropriate fijnd. P8ge 10
MURIEL AND GERSHON COREN CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 Inv¢8tmont Incom? 2021 2020 UK and other companbes and unit trusts net divhJ¢nd$ UK Government stock and other interest Igrossl Overseas dividends Overseas interest Interest 46,947 11,915 4,281 9,343 60,708 11,157 7,370 12,585 23 72,486 91,043 Cost of r#l#lno fvndx 2021 2020 Investment managar othor cootts 35.120 .77,.fjrt7 109 35,120 37,OTO An•lysls of oxp•ndSturo by actMtI•• Grant fvndlng of G0MIn¢$ o¢tivitigS osts 2021 2021 Total lund$ 2021 Tot81 funds 2020 Charitable activitios 70,OCKI 3,012 73.012 127.940 Total 2020 ?.64n 1?7,.1)40 Page11
MURIEL AND GERSHON COREN CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 Grants pald to Instltutlon• 2021 Better Worfd Charity British Blind Sport Centre for Jewish Llle CPRE CRISIS G<i¢wi Vsll¢ay¥ 8¥11 H¥ly Givuv Inspired J Trails Ki6h•ron Ncili(Ml<il fry¥l Charilablo gilts via Smart Giviivj Sl. Johns and Elwbeth Hospilal Spiro Institut0 3,000 3.000 3.000 3.000 80,000 12,000 J,ooo 40,000 30,000 10.CIXI 70,000 125,300 Govemance costs 2021 2020 Accountan {MHA Maelntyre Hudson) Ind•p•nd•nt Ex2min•rs f•• Bank thapJ¢) 400 2.540 72 400 2,240 3,012 2,640 Trustocs, remuneration and xyn$es The Trust90# #ro ecrtidèrod lo bè the Key IA8n8gwn(¥nt PMnnnAI nf Chariiy. During the year. no Trustees received any remuneration or other benefits f2020- £NIL). During the year ended 5 April 2021, no Trustee expenses have been In¢rred (2020. £NIL). Page 12
MURIEL AND GERSHON COREN CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2021 Flxed assot Investments Llstgd lfivestments Valuation At 6 April 2020 Additions Di¥pvbuIs RevalualM)ns 1,431,078 460.792 1199.5011 296,378 At S Aprtl 2021 1,987.747 During the year there were nel unreaiised gains 01 £295.3T8 (2020. lo&ws of £322,207). and roallood galns of £21,t2b12U2u'. SseS of £77.2301. I Invesiments oth¥r Ilwii Uiiil Trusts and OCICJ Jre li8tad on roe4gnicod stock •xehang9S. M•rk•t ¥•lu• 2021 2020 Liotgd èqurti06, unit trusts arKI OEICS Flxe(J IrilA¥¥l ¥¥Guiities 1,S16,605 471.142 1,104,366 .7?6, 712 1.087,747 1.431,078 10. Guarant•••, CommStments and Contlng•nt Llblllll•% At 6 April 2021 Ihgr• w•r• no eommltrn8nt fir (tingent liabilitie$12020: £NIII. 11. 2021 2020 Due wlthln one year Taxation Tecoverable 1,60T 1,657 Page 13
MURIEL AND GERSHON COREN CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2021 12. Current asset inv•stments 2021 2020 Cash In hand at stod(trKokers 28,811 301,029 13. Crodltors: Arnounts falllng dut wlthln on• year 2021 2020 Oth8r ¢xeditor Accruals 808,376 1a.288 13,362 822,664 13,362 Durfng Ihe year, tliv Cliarlty banked a dtspo¥it 01 £808,376 which was payahlA to The Gornhon Coren CharttaV Fuuii¢Jotion. Thi3 sum has bocn ro¢ogNisod as g cr•ditor at thA yftar*nd and has b88n repaid Iii Itie lOlA9 finane4el yoor to tho ¢orro¢t tharity. Plgasè wi Note 16 for futher details. Page 14
MURIEL AND GERSHON COREN CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2021 14. Statement of funds Statèment of fvnds- curr•nt year Balane• at 6 Apdl 2020 Galnsl Balanco at S (Lossos) Aprfl 2021 Income Exp•ndlturn Unrestrlcted fund• General Fund 72.486 (108,132) 275,555 239,909 Endowm•nt lund• Expendable endowm&nt fund 1.801,572 41,449 1,843.021 (108,132) 317.004 2,082.930 Totsl of funds 1,801,57Z 72,46G 5tatom•nt ol lunds- prlor y•ar 98l•ne• gt l Apnl 2019 GaIn Balance al (Losses) 5 April 2U2U Unrostrlct•d lund¥ G*neral Fund 431. 7.fj5 91.843 (165,610) (357.988) Endowm•nt fund Expendable erOwman1 lurKI 7.843.021 (41,449) 1.801.572 1,801.572 Totxl of funds 2,274,776 (10dOIO) {399,437) The Expendable Endowment furld i¥ li¢ld pemwnenlly by Ihe Foundabon lt can be applied on chanlat)ie activilles at th¢ lT¢tion of th¢ TTuslccs. Incom• arising the and(Mmenl fvnds can bè used in accw1an willi the objects of the Foundotion. Page 15
MURIEL AND GERSHON COREN CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 15. Analys1$ of net assets bethèn fvnd$ Analysls ol n•t assets b•twoen fund$- curr•nt year Unrnstrlrted Endowment funds funds 2021 2021 Total funds 2021 Fixed 8ss81 investments Currenl t¥>¥ts Creditors due wmin one year 144.726 917,847 {822.664) 1,843,021 1,987,747 917,847 1822,664> 239.909 1.843,021 2,082,930 Total Analysls ol net assets b•tseen funds . prtor y•ar Unro•trirt•d Endowmgnl fvnd fijnds 20?n 2020 Total funds 2020 Fixed assei In¥71#ts Current ossets Creditors due VthIn one year 1,431,078 .77n.494 1,431,078 383,856 (13,36?) 13.362 (13.362) 1,801,572 I,iIUl,)T2 Totsl 16. Rolated party transactlons Anthony Coren and Waller Stsnton a also Ine$ ol The Gersh coren Chorltsbl• Fourwjalim Durinq the year, the Charty bankeo a deposli of £808.370 was pgyoble to Th• tkrRhnn Coren Chariiable Foundation. This sum has been we111¥¢d ats a Gr¢d¢tor in Noto 13 #nd h82 hgèn repaid in the Idlowrvj finanoal year w the dwiity. Thert werc no ro18t•d paty trAn8ACtions in the prlor period. Pag¥ 18