REGISTERED CHARITY NUMBER: 1163876 Report of the Trustees Unludlted FinllDcAal Stitements for the Year Ended 30 April 2024 for Brain Circle UK Grnttt Harrod LcrtDan Davis LLP Chartered Accountants 1st Floor H¢althLid House Marlborough Hill Harrow Middl&sex HAI IUD
Brain Circle UK Contents of th¢ Financial Statements for the year eTr(kd 30 Aprll 2024 Page Report of the Trustee5 I to 2 Independent Examlner's Report Statement of FlnantlAI Aetivhies Ba13nce Shett C95h Vlow Statement Notes to the Cash Flow Statement Not&* to the FlnAnci41 Statements 8 to 11
Brain Circle UK Report of the Trustees for the yeAr ended 30 April 2024 The truste¢s preqent thetr report with the finan¢ial statemenls tsf the ¢harity for the year ended 30 April 2024. Th¢ ttee5 have adopt¢d the provision5 of Accounting and R¢porting by Charities.. St8tement of Retommettded Prd¢ti¢¢ applicable to charirie5 preparing Iheit accounts in ace<)rdanGe with the Financial Reporting Stond8rd applicable in the Lry< and Republic of Ireland (FRS 102) (effectiv¢ l January 20191. OBJEcfivES AND AcfiviTIES Objectives aiJn5 To advan¥¢ ediication for the publi¢ btncfit in brdin sciertces in patti¢ular by.. PToviding financial and material assistsnce end support to 9d for the ¢8rryin8 on of th¢ brain and n¢uros¢i¢n¢¢ re4earch at the Edmot)d and l.ily Safra Centre for Brain S¢i¢nc¢5 at the Hebrew University of Jerusalem (ELSC) {including fa¢iliiies, quipment for sdentS and scientists engag¢d in sueh researrh and also the provIsion of scholarships for sttjdentsl and at any non-profit making educational institution of academic standing with which ihe ELSC sha]1 at any time be attLalgamated or as50ciat¢d and al any oth¢r such institution anywhere in the world.. and (21 developing s¢ieniific collaboration be(w¢¢n ELSC and other scientifi¢ iEtstitutions in Britain or ¢lscwher¢ in ihe wurld condu¢ting brain and tLeur05Gi¢nce research. Public beuefit The principal asm5 of the Brain Circle UK are to undertake and promote. for th¢ publac benefit. res¢ar¢h iiito the devclopmcnt ol th¢ neurosciences at th¢ Edmond & Lily Safra C¢ntr¢ for brain Sciences &1 th¢ Hebrew Univcnity of Jcrns8lem. ACHIEVEMENT AND PERFORMANCE Fundraislng xttivities Brain Circle UK organise atmual fundraising dinners and galas to 5UPPOrt PhD students ai ELSC. Thes¢ evenings illvolve speakers from ELSC and rDt¢r(ainment. In 2022. Brain Clrcle UK were the hosts of a travelling Europ¢&n Conference on Ihc piC of Emotions. Following the c4)nferen¢e. BCUK organised a ndraising dinner at the Royal Academy of Art for 200 guc5ts. Prof Adi Mizrahi from El,SC. was thc principa] speaker. FirriiRE PLANS Wc aim to achieve more ¢oll&bor&tions with UK institiOnS such a5 Gatsby program IPart of the Sainbury fOu[atiOn and our partncr in UK). We $0 wish to go on fundraising for the Neurosciences PhD Pmgram and furLd5 in g¢n¢rdl for ELSC 26 lalK)ratori¢s. STRUCTURE. GOVERNANCE AND MANAGEMENT Gvv¢rning document The charity is controll¢d by its governing do¢um¢nL a deed of trnst and constitutes a Charitsble Incorporated Organisation. REFERENCE AND ADMINisfiL4TIVE DETAILS Registered Charity number 1163876 Prlneipal Addre58 213 Albany Street London NW14AB TTUSt¢e$ D Rothenberg M Salem Pag¢ I
Brain Cirele UK Report of ¢he Trustees for th* year ended 30 April 2024 REFERENCE AND ADMINISTRATIVE DETAILS IndependeTht Examiner Grant klarrod Lerman Daw5 LLP Charrcrcd A¢¢ounlanis IstFloor Healthaid House Marlborough Hill Harrow Middle5CX HAI IUD Apptvved by order of the knard of tnte¢S on and signcd on its behalf by.. M Sal¢m- Truste Page 2
Ind¢pendeTht Examiner's Report to th¢ Trnsteej of Br4in Circle UK INd¢p¢ndeDt examiNer'5 report to the trustee5 of Brsin Cirele UK I r¢port to the chariiy trustees on my examination of the accounts of Brairt Circle UK (the TTU5tI for th¢ year eiided 30 April 2024. Responsibilities 2nd ba$is of rtport As the Charity ttte5 of the Trust you are resPOtLsible for th¢ preparation of lh¢ a¢counts in aG¢ordan¢¢ the requiremcnts of th¢ Clthrities A¢t 2Q I l ('th¢ Act.). I report in respect of my examination of the Tru5t'5 a¢counts ¢arried out under Section 145 of the Act and Én carrying out my examination I hav¢ followed all applicabl¢ Directions given by the Charity Cotnmission under Section 145{5)(b) of the Act. IndepeDdertt examiner'5 Statement I have complet¢d my examination. I confimi that no ma¢¢rial matters have come to my an¢niion in conntioN With th¢ cxaminaiion giving me cause to bEliev¢ that in any tll8t¢rial respect.. a¢¢ounting reeords w¢r¢ not kept in rcspcrt of the Trust as rcquired by Section 130 of the A¢t' or the accounts do not accord with those records,. or the accounts do not ¢omply with the applieable requiremcnts Cortceming the forn] and c4)nt¢nt of accounts set out in the Charitics (Accounts and R¢ports} Rcgulations 2008 other than any r¢quir¢ment that the acColt$ 8ive a true and fair view which is not a matter considered as part of an indep¢nd¢Tht exn]naTIoN. I have no concerns and have com¢ across no other matters in ¢onncctiov with the examination to which attention should be drawn in this report in order to enabl¢ a proper understanding of thc accounts to be reached. J¢remy Harrod FCCA Grant HarrDd Lcrman DavL5 LLP Chartered Accountants l%t Floor Healrhaid House Marlborough Hill Hamw Middlesex HAI IUD Date.. ., s.. | 11.t.ZD.24 Page 3
BraiM Circle UK Stgtement of Vinanci81 Attivities for the year ended 30 April 2024 2024 UnTC5trieted ttd 2023 Total fund5 Notes INCOME AND ENDOWMENTS FROM Donatiolls and l¢ga¢i¢s 51,245 418.736 EXPENDITURb ON Rwsing ndS 1.560 1,560 Ch*rlt4bl¢ 4ctivitie5 Charitable activities 102.584 386,753 Total 104.144 388,313 NET JNCOMEI(EXPENDITURE) (52,899) 30,423 RECONCILIATION OF FUP4DS Total funds brought forward 210,734 180,311 TOTAL FUNDS CARRIED FORWARD 157,835 210,734 Th¢ note5 form part ofthese financial statements Pag¢ 4
Brsin Circle UK Balanee Sheet 30 Aprll 2024 2024 UnrrstrKCted nd 2023 Total funds Notes CURRbNf A&SETS Caih at bank 159.395 210.734 CREDITORS Amounts falling due within year {1,560} NET CURREP4T ASSETS 157,835 210,734 TOTAL ASSETS LESS CURRENI. LIABILITIES 157.835 210.734 NEf ASSETS 157.835 210,734 FUNDS Unrestricted funds 10 157,835 210.734 TOTAL FUNDS 157,835 210,734 The flnancial statements were approved by the Board of Tru5tee5 and authorised for issue on ..f.l.i.ILVAZ L and were sisned on its behalf by.. M Salem- Trustee The ntstcs fomi part of these financial statements Page 5
Hrain Circle UK Cash Flow Statement for the yellr ended 30 April 2024 2024 2023 Ntstcs Cash flows frnm operating gttivities C&%h gencrated from operaiiotts (51.339) 28,863 N¢t cash (used ir])Iprowded by opernting ac4iviii¢s (5l.339) 28,863 Change in u$h and c85h equivalents I the reptsrtlng perlod Cash #nd LAsh equivalents at th¢ beg5nalng of the r¢portiDg period {51.339) 28.863 210,734 181,871 C4$h athd cash equlvxlents gt tbe end of the reporting period 159.395 210,734 Th¢ notes forn) part of rhese financial statements Page 6
Briin Cirde UK Notes to the C95h Flow Statement for the ythr ettd¢d 30 April 2024 RECONCILIATION OF NET (EXPENDTfuRE)IINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2Q23 Net {expenditureyincome for the reporting perlod (as per th¢ Statement of Finthcil Activities) Adjusiments for: Incre&se1(decre} in creditors {52,899) 30,423 I,S60 11,560) '¢1 c4$h {used inyprovlded by oper&tknn$ (51,3391 28,863 ANALYSIS OF CHANGES IN NET FUTr4DS At 1.5.23 Cash flow AI 30.4.24 Net eash Ch ot bank 210.734 {51,3391 159,395 210,734 (51.3391 159,395 TDlg1 210,734 (51,3391 159,395 The notes forni part of these financial statements Pag¢ 7
Brain Cirde UK Notes to the Vinanelal Siatements for the year ended 30 April 2024 ACCOUNTING POLICIES Basis of prcp*ring the financial stateents Th¢ financial Statements of the Charity, which 15 a public benefit rlltity under FRS 102, have beeu prepared in ¢ordan¢¢ with the Charities SORP IFRS 1021 'Aounting and Reporting by Chaniits.. Statement of R¢commend¢d PTaclic¢ applicable to eharitrc5 preparing their 3ccounts in accordanc¢ with the Finattctal Reporting Standard applicable in thc UK 2nd Rcpublic of Ireland (FRS 102} (effe¢tive l January 2019),, Financial Reporting Standord 102 '1Tht Financial Reportittg Standard applicable in the UK and Republic of Ir¢land' and the Chgrities A¢t 2011. The finan¢ia] statements have been prepared under the histori[ ¢ost collvention. Income All income is r¢cOl$ed in the Statcmcnt uf Financial Aciivities on¢¢ th¢ charity has entitlement the funds, il is probable that the incom¢ will b¢ received and the amount can be measur¢d r¢liably. Expenditure Liabilities are recognised as expelldilure as soon ss there is a legal or n$tCtive obligation conmitting the charity to that 2xpelldiittre, it is probable that a transfer of 001¢ benefits will be requircd in s¢ttl¢m¢nt and the amoiint of the obligatiott ¢an be Ineasured reliably. Expenditure is aOurtt¢d for on an accrua15 basi5 and has been ¢lassified und¢r headings that aggregare kll cost related io ihe catsgory. Where costs banno( be di1[Y attributcd to particular headings th¢y have be¢n allocated lo activi(ies on a basis consistent with the use of resources. Grants off¢r¢d subject to conditions which have noi been mrt at th¢ y¢ar end date are noted as 3 ¢4)mmitm¢nt bv¢ not accrued as expenditurr. Taxation The charity is ¢x¢mpt from tax on its charitable activÉties. Fund Accounting u[¢StriCted funds ¢an be used in cOrdance with thc charitable objectives at th¢ discretion of the irustees. Restricted funds can only b¢ used for particular restricted purposes within ih¢ objects of the charity. R¢stri¢tions aris¢ when sp¢cifJ¢d by the donor or funds are raised for particular rcstrictcd PUTPOS¢S. Further explanation of the naturc and purpos¢ of ¢a¢h fund is included in the not¢s to the fina]Kial statements. DONATIONS AND I.F.GACIES 2024 2023 Donations and gaia tickets 51.245 418,736 Page 8 continucd...
BraiD Cirrle UK r4ote$ to the Financial StsteTnents- continued for the year ended JO April 2024 RAISING FUNDS Raising donations •nd ItEAcies 2024 2023 Support costs 1.560 1,560 CHARITABLE ACTIVITIES cosrs ftinding of actLVItics (Sec note DirKt Costs 5) Tota]s Charitable aelivities 2,458 100,126 102,584 GRANTS PAYABLE 2024 2023 Charitable a¢tiviiies 100,126 325,216 SUPPORT COSTS Governance osrs Ratsill6¥ donations and legacies 1.560 TRusfEES' REMUNERATION AND BENEFITS The wcre no trustees, remuneruion or other bencfits for the year ended 30 ApTiI 2024 tlor foT th¢ year ¢nd¢d 30 April 2023. Tru$tees' expenses Th¢rc wcre no trustees. ¢xpense5 paid for the ye*r cnded 30 April 2024 nor for the year end¢d 30 April 2023. COMPARATIVES FOR THE sfATEMENT OF FINANCIAL ACTivrrILs Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies 418,736 EXPENDrruRK ON Raising funds 1.560 Chirttsble gCtivi¢le$ Charitable aGDvitJe5 386,753 Tc•141 388,313 NET INCOMK 30.423 Page 9 continued...
Brgin Circk UK Notts to the Fin8ttdal Statem¢nts- continued for the year ended 30 April 2024 COMPARATIVES FOR THE sfATEMENf OF FINANCIAL ACTIVITIES- ¢oDtinu¢d Unrestricted fund RECONCILIATION OF FUNDS Total funds brought forward 180.311 TOTAL Fuf4DS CARRIED FORWARD 210,734 CREDITORS: AMOUN15 FALLIIYG DUK WITHIN ONE YEAR 2024 2023 Other creditors 1.560 io. MOVEMENf IN FUIYDS Net movement in Thds At 30.4.24 At 1.5.23 Unrestricted (d5 Gtrteral fund 210,734 152,899) 157,835 TOTAL FUNDS 210,734 {52,899) IS7,835 Net mov¢ment in fi]nds. included in th¢ above are As follows.. Incoming resources Re50iirces expendcd Movement in funds Unrestricted funds General fund 51,245 {104.1441 (52,899) TOTAL FUNDS 51.245 {104, 1441 (52,899) Comp4rAtives for movem¢tst In thnds Net movemcnt in funds At 30.4.23 At 1.5.22 Unr¢stricted fvnds General fvnd 180,311 30,423 210,734 TOTAL FUNDS 180JII 30,423 210,734 Page 10 continued...
Br%iR Circle UK Notes to the Financial StaterNrnts- cootinued for the year ended 30 April 2024 io. MOVEMF.NT IN FUNDS- corttinutd Comparative net movement in fi]nd5, included in the above are as follows: tncoming resources R¢souTces expended Movememt in fund5 Unrestricted funds Gelleral fund 418.736 1388,313) JO,423 TOTAL FUNDS 418,736 (388,3131 30.423 A current y¢aT 12 months and prior y¢ar 12 months combin¢d position is as follows.. Net movernent sn funds At 30.4.24 At 1.5.22 Unrestricted fund5 General fid 180,311 (22,4761 157,835 TOTAL FUNDS 180.311 (22,4761 157,8.15 A current year 12 months aJyJ prior year 12 months combined net movement in fimds, included in the abov¢ ar¢ &8 follows.. TncoTning r¢sour¢es R¢soiirce5 expended Movement in fvnds Unrestricted funds Gen¢ral fund 469.981 (492,457) (22,476) TOTAL FUL¥DS 469,981 (492,457) 122.476) RELATED PARTY DISCLOSURES There were no relar¢d paty transactions for th¢ year ended 30 April 2024. Page 11