**Registered number: 09500717 Charity number: 1162176**
# **DAVID SIMON LEVIN FOUNDATION**
**(A Company Limited by Guarantee)**
**UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2024**
## **DAVID SIMON LEVIN FOUNDATION**
## **(A Company Limited by Guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Company, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 4|
|**Trustees' Responsibilities Statement**|5|
|**Independent Examiner's Report**|6|
|**Statement of Financial Activities**|7|
|**Balance Sheet**|8 - 9|
|**Notes to the Financial Statements**|10 - 16|
## **DAVID SIMON LEVIN FOUNDATION (A Company Limited by Guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024**
|**Trustees**|D S Levin|
|---|---|
||C Magram|
|**Company registered**
**number**
09500717
**Charity registered**
**number**
1162176
**Registered office**
101 New Cavendish Street
1st Floor South
London
W1W 6XH
**Accountants**
Harris & Trotter LLP
101 New Cavendish Street
1st Floor South
London
United Kingdom
W1W 6XH||
Page 1
## **DAVID SIMON LEVIN FOUNDATION**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024**
The Trustees present their annual report together with the financial statements of the Company for the 1 April 2023 to 31 March 2024. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
## **Structure, governance and management**
## **a. Constitution**
David Simon Levin Foundation is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
The charity registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 20 March 2015, and on 12 June 2015 was registered with the Charity Commission for England and Wales. Its governing document is its Memorandum and Articles of Association.
The trustees of the foundation, who are also the directors for the purpose of company law, and who served during the year were:
David Simon Levin Clara Magram
None of the trustees of the foundation have any beneficial interest in the company. All of the trustees of the foundation are members of the company and guarantee to contribute up to £10 in the event of a winding up.
## **b. Risk management**
The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
IIn accordance with the memorandum and articles of association, the trustees have the power to invest in such assets as they see fit. The Charity has a policy of keeping surplus liquid funds in short term deposits. This low risk investment policy provided the flexibility in making charitable grants and ensures the charity has adequate funds to meet ongoing grant commitments and administration costs in accordance with its reserves policy.
Page 2
## **DAVID SIMON LEVIN FOUNDATION**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
## **Objectives and activities**
The charity’s objectives are the advancement of Jewish education, Orthodox Judaism, the arts, culture and heritage of Jews and other charitable purposes in the United Kingdom and elsewhere.
The charity’s grant-making policy has been to support other UK registered charities whose activities further the charity's objectives.
The charity has not made use of volunteers during this year.
## **Financial review**
## **a. Main achievements of the Company**
The David Simon Levin Foundation (DSLF) achieved the following financial and operational milestones:
Donated funds received - £nil (2023: £nil);
Interest received - £100,691 (2023: £13,167);
Donations made to UK registered charities and individuals furthering the objects of DSLF - £3,960 (2023: £1,728);
The closing balance of the DSLF bank account for the year was £2,549,038 (2023: £2,466,650).
## **b. Fundraising activities**
During the year the Foundation did not carry out any fundraising activities.
## **Financial review**
At the end of the financial year the charity held funds of £4,511,588 (2023: £4,419,450).
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **Reserves policy**
The trustees have adopted a reserves policy whereby sufficient cash reserves are held to cover future committments. The balance of cash reserves at 31 March 2024 was £2,549,038 (2023: £2,466,650).
Page 3
**DAVID SIMON LEVIN FOUNDATION (A Company Limited by Guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
Approved by order of the members of the board of Trustees and signed on their behalf by:
**D S Levin** Trustee Date: 18 November 2024
Page 4
## **DAVID SIMON LEVIN FOUNDATION**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024**
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' Report including the Strategic Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on its behalf by:
**D S Levin** Trustee Date:18 November 2024
Page 5
## **DAVID SIMON LEVIN FOUNDATION (A Company Limited by Guarantee)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024**
## **Independent Examiner's Report to the Trustees of David Simon Levin Foundation ('the Company')**
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
## **Responsibilities and Basis of Report**
As the Trustees of the Company (and 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 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
Jamie Taylor
Harris & Trotter LLP 101 New Cavendish Street 1st Floor South London W1W 6XH Date: 18 November 2024
Page 6
## **DAVID SIMON LEVIN FOUNDATION**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024**
|**Note**
Donations and legacies:
Investments:
3
_._ Other investments
**Total income**
**Expenditure on:**
Charitable activities:
Grants and donations paid
4
Governance cost
5
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**100,691**
**100,691**
**3,960**
**4,594**
**8,554**
**92,137**
**4,419,450**
**92,137**
**4,511,587**|**Total**
**funds**
**2024**
**£**
**100,691**
**100,691**
**3,960**
**4,594**
**8,554**
**92,137**
**4,419,450**
**92,137**
**4,511,587**|_Total_
_funds_
_2023_
_£_
_13,167_|
|---|---|---|---|
||||_13,167_|
||||_1,728_
_4,560_|
||||_6,288_|
||||_6,879_|
||||_4,412,571_
_6,879_|
||||_4,419,450_|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 10 to 16 form part of these financial statements.
Page 7
## **DAVID SIMON LEVIN FOUNDATION (A Company Limited by Guarantee) REGISTERED NUMBER: 09500717**
## **BALANCE SHEET AS AT 31 MARCH 2024**
|**Note**
**Fixed assets**
Investments
9
**Current assets**
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Unrestricted funds
12
**Total funds**|**5,800**
**2,549,037**
**2,554,837**
**(3,000)**|**2024**
**£**
**1,959,750**
**1,959,750**
**2,551,837**
**4,511,587**
**4,511,587**
**4,511,587**
**4,511,587**
**4,511,587**|_1,955,800_
_2,466,650_
_4,422,450_
_(3,000)_|_2023_
_£_
_-_|
|---|---|---|---|---|
|||||_-_
_4,419,450_|
|||||_4,419,450_|
|||||_4,419,450_|
||||||
|||||_4,419,450_|
|||||_4,419,450_|
||||||
|||||_4,419,450_|
Page 8
## **DAVID SIMON LEVIN FOUNDATION**
## **(A Company Limited by Guarantee)**
## **BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024**
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 18 November 2024 and signed on their behalf by:
**D S Levin** Trustee
The notes on pages 10 to 16 form part of these financial statements.
Page 9
**DAVID SIMON LEVIN FOUNDATION (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1. General information**
The charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The Charity number is 1162176. The Company number is 09500717.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
David Simon Levin Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **2.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
## **2.4 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.5 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
Page 10
**(A Company Limited by Guarantee)**
## **DAVID SIMON LEVIN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **2. Accounting policies (continued)**
## **2.6 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.7 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.8 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **2.9 Financial instruments**
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.10 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
## **3. Investment income**
|**Unrestricted**
**funds**
**2024**
**£**
Interest received
100,691
_Total 2023_
_13,167_|**Total**
**funds**
**2024**
**£**
**100,691**
_13,167_|_Total_
_funds_
_2023_
_£_
_13,167_|
|---|---|---|
||||
Page 11
## **DAVID SIMON LEVIN FOUNDATION**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **4. Analysis of grants**
|Grants payable
_Total 2023_|**Grants to**
**Institutions**
**2024**
**£**
3,960
_1,728_|**Total**
**funds**
**2024**
**£**
**3,960**
_1,728_|_Total_
_funds_
_2023_
_£_
_1,728_|
|---|---|---|---|
|||||
## **5. Analysis of expenditure by activities**
|Unrestricted funds
_Total 2023_|**Grants**
**payable**
**2024**
**£**
3,960
_1,728_|**Support**
**costs**
**2024**
**£**
4,594
_4,560_|**Total**
**funds**
**2024**
**£**
**8,554**
_6,288_|_Total_
_funds_
_2023_
_£_
_6,288_|
|---|---|---|---|---|
||||||
## **Analysis of support costs**
|Subscription
Governance costs|**Total**
**funds**
**2024**
**£**
**324**
**4,270**
**4,594**|_Total_
_funds_
_2023_
_£_
_-_
_4,560_|
|---|---|---|
|||_4,560_|
Page 12
**(A Company Limited by Guarantee)**
## **DAVID SIMON LEVIN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **6. Governance costs**
|**Unrestricted**
**funds**
**2024**
**£**
Independent examination/ accountancy fee
4,200
Bank charges
70
**Total 2024**
4,270
_Total 2023_
_4,560_
**Independent examiner's remuneration**
Fees payable to the Company's independent examiner for the independent
examination of the Company's annual accounts|**Total**
**funds**
**2024**
**£**
**4,200**
**70**
**4,270**
_4,560_
**2024**
**£**
**4,200**|_Total_
_funds_
_2023_
_£_
_4,560_
_-_
_4,560_
_2023_
_£_
_-_|
|---|---|---|
## **7. Independent examiner's remuneration**
## **8. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2023 - £NIL)_ . During the year ended 31 March 2024, no Trustee expenses have been incurred _(2023 - £NIL)_ .
## **9. Fixed asset investments**
|**Cost or valuation**
Additions
At 31 March 2024
**Net book value**
At 31 March 2024|**Investments**
**£**
**1,959,750**|
|---|---|
||**1,959,750**|
||**1,959,750**|
Page 13
**(A Company Limited by Guarantee)**
## **DAVID SIMON LEVIN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **10. Debtors**
|**Due after more than one year**
Other debtors
**Due within one year**
Other debtors
**Creditors: Amounts falling due within one year**
Accruals and deferred income|**2024**
**£**
**-**
**-**
**5,800**
**5,800**
**2024**
**£**
**3,000**|_2023_
_£_
_975,000_|
|---|---|---|
|||_975,000_
_980,800_|
||||
|||_1,955,800_|
|||_2023_
_£_
_3,000_|
## **11. Creditors: Amounts falling due within one year**
Page 14
## **DAVID SIMON LEVIN FOUNDATION**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **12. Statement of funds**
|**12.**
**Statement of funds**|||||
|---|---|---|---|---|
|**Statement of funds - current year**
**Unrestricted funds**
General Funds - all funds
**Statement of funds - prior year**
**Unrestricted funds**
General Funds - all funds|**Balance at 1**
**April 2023**
**£**
**4,419,450**
_Balance at_
_1 April 2022_
_£_
_4,412,571_|**Income**
**£**
**100,691**
_Income_
_£_
_13,167_|**Expenditure**
**£**
**(8,554)**
_Expenditure_
_£_
_(6,288)_|**Balance at**
**31 March**
**2024**
**£**
**4,511,587**|
|||||_Balance at_
_31 March_
_2023_
_£_
_4,419,450_|
Page 15
**(A Company Limited by Guarantee)**
## **DAVID SIMON LEVIN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **13. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|**Unrestricted**
**funds**
**2024**
**£**
Fixed asset investments
1,959,750
Current assets
2,554,837
Creditors due within one year
(3,000)
**Total**
4,511,587|**Total**
**funds**
**2024**
**£**
**1,959,750**
**2,554,837**
**(3,000)**
**4,511,587**|
|---|---|
## **Analysis of net assets between funds - prior period**
|Debtors due after more than one year
Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2023_
_£_
_975,000_
_3,447,450_
_(3,000)_
_4,419,450_|_Total_
_funds_
_2023_
_£_
_975,000_
_3,447,450_
_(3,000)_
_4,419,450_|
|---|---|---|
Page 16