Charity number: 1166706 The Clemens Neumann Nathan Charitable Trust Unaudited Trustees, report and financial statements For the year ended 30 November 2024
The Clemens Neumann Nathan Charitable Trust Contents Page Reference and administrative details of the Chaftty, its Trustees and advisers Trustees, report Statement of financial activities Balance sheet Notes to the financial 5Lthments 8-13
The Clemens Neumann Nathan Charttable Trust Reference and administrative details of the Charity, its Trustees and advisers for the year ended 30 November 2024 Trustees Mr RA Nathan, Chair Mrs N Nathan Mr P D Hudson Charity registered number 1166706 Principal office 168 Shoreditch Htgh Street London E16RA Bankers Barclays plc 1 Churchill Pla London E14 5HP Investment managers Rothschild Wealth Management New Court St. Swithin's Lane London EC4N 8AL Page 1
The Clemens Neumann Nathan Charitable Trust Trustees, Report for the year ended 30 November 2024 The Trustees present their annual rekN)rt together with the financial statem8nts of the Chartty for the year ended 30 November 2024. Objects and activities Policies and objectives The objectives of the charity are: a) To advance education for public benefft by promoting the education (including social and physical training) of people of any age in any part of the world in such ways as the charity trustees think frt, including by awarding to such persons scholarships. tnainlenance allowancEs or grants or assisting any charity or not- for-profrt organisation whose aims indude advancing education of persons of any age by developing their mental. physical and moral capabilities.. b) To prevent or relieve poverty for the public benefit by providing grants. ttems and setvices to individuals in need LY to tharities or other organisations anywhere in the worfd who prowde or assist in the provision of education, training and healthcare projects designed to rdieve poverty; c) To advan health or the saving of lives and the relief of those in need by reason of ill-health and disability in any part of the world by providing assistan as the trustees think fit to any charity whose aims indude the protection and promotion of the health of the public either by providing treatfflent and care to persons suffering from mental or physical illness or by research into such illness or providing information ar raising public understsnding of such Tnatter5: d) To promote human rights (as set out in the UnNersal Declaralion of Human Rtghts and subsequent United Nations. conventions and declarats"ons} throughout the wortd by all or any of the following means- research into human righls issues, educating the public about human rights, raising awareness of human rights Issues 2nd promoting reSct for human rights among individuals and corporations; and e) To further such exclusively charitable purposes for the public benefit according to the law of England and Wales as the charity trustees in their absoluts discretion froTn tiTne lo time detemiine. In setting objectives and planning for actrvities, the Trustees have given dL2e consideration to general guidance published by the Charty Commission relating to public benefit, including the guidan 'Public benefit: running a charity (PB2)'. b. Activities undertaken to achieve objectives The charty has continued to supw>rt a siudent undertaking a masterfs in international hufflan rights law and has made donations to two canr charities. Page 2
The Clemens Neumann Nathan Charitable Trust Trustees. Report (continued) for the year ended 30 November 2024 Achievements and perforniance Main achievements of the charity As stated above the main achievement has been the continued support provided to a student undertaking a rnaster's in intemational human rights law. b. Review of activities Other than the grants arml donations mentioned this has been a quiet year for the charty. ¢. Investment policy and perfomiance The endowment fund now consists of inve5trnents rnanaged by Rothchild and an interest in a propety investment company. The Tnjstees are content with the retum on the invesbments. The retum on the Rothchild investments is an overall return and Ihe trustees, following discussions with the investsnent managets. have agreed that up to 2.50% of the opening endowment fund value can be treated as unrestrtcted funds available for use by the charity to fulfil its aims. No transfer has been made fom the Endowment Fund to the Unrestricled Fund in the cutrent year as there are still funds available for the charivs purposes in the Unrestricted Fund. Flnanclal review Going concern After making appropriate enquiries. the Trustees have a reasonable expectation that the Charity has adequate resou$ to continue in operational existen for the foreseeable future. For this reason, they continue to adopt Ihe going concern basis in preparing the financial statements. Further details regarding the adoption of the going concem basis can be fwnd in the accounting policies. b. Reserves policy The Trustees have taken a cauti$ apwoach in the early years of the charity to permit it to grow tt's unrestricted reseNes with which they can, going forward, provide more meaningful assistance to individuals and other charities. Structure. governance and management a. Constitution The Clemens Neumann Nathan Charitable Trust is a registered charity, number 1166706. and is constituted as a Chartty IncorpM)rated Organisation. Page 3
The Clemens Neumann Nathan Charitable Trust Trustees, Report for the year ended 30 November 2024 b. Methods of appointment or election of Trustees The management of the Charity is the responsibilty of the Tnjstees who are elected and ccpopted under the temis of the Memorandum and Artides ofAssociation. c. Related party relationships All Trustees give their time freely aThJ no trustee is remunerated nor have any expenses been reimbursed, as set out in note 6 to the financial ststements. Trustees are required to disdose all relevant interests in accordan wth the Trust's policy and withdraw form discussions where a confirct of interest arises. d. Financial risk management The Trustees have assessed the major risks to v4hich the Charity is exposed, in particular those related to the operalions and finanS of the Chaiity and are satlsfied that systems and procedures are in pla to mttigate exposure to major risks. Statement of Trustees. responsibilities The Trustees are responsible for preparing the trustees. report and the financial statements in accordan with applicable law and United Kingdom Accounting Stsndards (United Sfjngdotn Generally Apted Accounting Practice). The law applicable to chartlies in England and Wales requires trustee to prepare financial slatemenls for each financial year which give a true and fair view of the stste of affairs of the Charity and of its incoming resources and application of resources, induding tts income and expenditure. for that year. In preparing these financial statements, the trustees are required to= Select suitable a(rx)unting wlictes and then apply then wnsistently" Observe the methfAs and principles of the Charities SORP IFRS1021: Make judgements and accounting estimates that are reasonable and prudent., Stale whether applicable UK Accounting Standards IFRS102) have been followed, Subject to any materÉal departures which are disdosed and explained in the financial statements; Prepare the financial statements on a going conrn basis unless it is inappropriate to presume that the Charity will continue in LMJsine&s. Page 4
The Trustees are reSpOntAe for keeping ajequate armuntin9 re¢ords that are sufficient to show and explain Charitfs trdrtsactions and disc1 vith reasonakAe accuracy at any time the financial posilion of the Charrty atKI enable them to ensure that the financial stements Comp wrth ts ChatttiesAd 2011, ts Chaity {Accounts and Reports) Regulations 2008 and the provisions of the Charty IrKorporaled Organi5ation. They are also responsible for the preveniTh and dettion of fra aNI other irregularities. Approved by order 0ftr rI*M ofthe boJd ofTrustees and swJned on Iheir bthalf by: Mr R ANaShan Date: 6 January 2025
The Clemens Neumann Nathan Charitable Trust ststement of financial activities For the year ended 30 November 2024 Endowment Unrestricted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Note Income and endowments from: Donations and legacies 2,539 2,539 3,379 Total income and endonts 2.539 2,539 3.379 Expenditure on: Charitable activities 5.715 5,715 4,620 Total expenditure 5,715 5,715 5.715 5,715 Net (expenditure) before net gains on investments (3.176) (3,176) (1,241 > Net gain on investrnents 161,670 161,670 61,778 Net movement in fund5 161,670 (3,176) 158.494 60,537 Total funds brought forward 1.409,869 82,428 1.492,297 1,431.760 Total funds carried forward 1,571.539 79,252 1.650.791 1,492,297 Page 6
The Clemens Neumann Nathan Cbaritsble TAt Balance sheet As at 30 November 2024 2024 2023 1.567.590 1.405,920 Investments Current assets 83.201 86.3TT Cash at bank Total net asseis 1,650.791 1.492,297 Charity funds Endovmient funds Unrestricted funds 1,571.539 79.252 1,409,869 82,428 Tot furKIs 1.650,791 1,492.297 The finara staternts we appr(1 and aulknr{ for issue by the trustees and signed on theFr behalf by: Mrs N Nathan Nathan Dated: 6 January 2025 The notes on pages 8 to 14 fomi part ofthese firrancia slatements PwJe 7
The Clemens Neumann Nathan Charitable Trust Notes to the financial sLernents For the year ended 30 November 2024 Generdl inforniation The charity was formed by the Charity Commission as a Charitable Incorporated Organisalion registered in England and Wales. The chartty's registered office is the 2ThJ FlcK)r. 168 Shoreditth High StreeL London. E16R The main aim of the charity is to provide assistan in the education of people in respect of the Human Rights Convention as well as providing grants to alleviate health issues. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been rAepared in accordance with the Charities SORP (FRS 102)- Accounti and Reporting by Charities: Statement of Recommended Practice applicable to charilies preparing Iheir accounts in accordance with the Finanaal ReForknng Standard applirAble in the UK and Republic of Ireland (FRS 102) (effectNe 1 January 2019). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to gÈve a knje and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fairf view. This deparbjre has involved foll0vng the Charitres SORP (FRS 102) published in October 2019 rather than the Accounting and Reporbng by Charities: statement of Recommended Practice effective from 1 April 2005 which has since been wiihdravm. The Clemens Neumann Nathan Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabiltties are initially recognised at historical cost or trans&tion value unless otherwise stated in the relevant accounting policy. 2.2 Income JI income is recognised once the Chaiity has entiilement to the income, ffi is probable that the inc¢)me 11 be re(*ived, and the amount of income r1Vable can be measured reliably. Income tsx reojverable on either donatic$ received under grft aid or from investment income is recognised at the time the donation or investment income is reived. Page 8
The Clemens Neumann Nathan Charitable Trust Notes to the financial statements For the year ended 30 November 2024 2.3 Expenditure Expenditure is rBc(ynised once there is a legal or (x)nsttuIXive obligation to transfer ecA)nomic nefft to a third party. It is probable that a transfer of economic benefits will be required in settlement arid the amount of the obligation can be measured reliably. Expenditure is classtfied by activtty. The costs of each activty are made up of the totsl of direct and shared costs, induding support costs inVoed in undertaking each activity. Direct costs attributable to a singular actsvity are alkK3ted directly to that acttvity. Shared costs which contrbuEe to more than one activty and 5UPPOrt C051s which are not attributsble lo a single activty are apportioned belween those activities on a basis consistent wth the use of resources. Central staff costs are allocaled on the basis of time spenL and depreciation charges allocated on the portion of the asset's use. Expendtture on charttable acttvities in incurred directty on undertaking the activities which further the Chariws obiecbves. as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where Ihe offer is corKlilional. such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to condttions whith have not been met at th8 year end are not8d as a commitment, but not ac(wed as expenditure. 2.4 Investments Fixed asset invesbnents are a form of financial instrument and are inits.ally recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date. urble5S the value cannot be measured reliably in whith case it is measured at cost less impairmenL Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gains1(losses) on inveslments. in the Stalefflent of financial activities. 25 Cash at bank Cash at bank indudes cash and short temi highty liquid investments with a short malurty of three tTh)nths or less. 2.6 Flnan¢ial instruments The Charity only has financial assets and liabiltties of a kirKI that qualtfy as basic financial instruments. Basic finanual instmments are initial recognised at transaction value and subsequenily measured at their setuement value. Page 9
The Clemons Neumann Nathan Charitable Trust Notes to the financial statements For the year ended 30 November 2024 2.7 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. In¢ome from do1110nS and legacies Unrestricted Funds 2024 Total Funds 2024 Unrestricted Funds 2023 Total Funds 2023 Donations 2.539 2.539 3.379 3,379 Analysis of grants Grants to Inslitutions 2024 Total Fund5 2024 Grants to Institulions 2023 Total Funds 2023 Grants Donations 3,500 1.000 3,500 1,000 3,000 3,000 4,500 3,000 3.000 Analysis of expenditure on charitable activitses Grant Funding Activities 2024 Support Costs 2024 Total Funds 2024 Furtheran of tharitable aims 1.215 5,715 Grant Funding Activities 2023 Support Costs 2023 Total Funds 2024 Furtheran of tharttable aims 1,620 4.620 Page 10
The Clemens Neumann Nathan Charitable Trust Notes to the financial statements For the year ended 30 November 2024 Trustees. remuneration and expenses During the year, no Trustees recelved any remuneration or other beneffts12023 - £NIL). During the year no expenses have been incurred by the Tnjstees (2023 - £NIL}. Fixed asset investments Listed Unlisted Investments Investments Total Cost or valuation At 1 December 2023 Revaluations 1.124.627 161,670 281293 1,405.920 161,670 At 30 November 2024 281,293 1.567.590 Ngt book valug At 30 November 2024 1,289.297 281.293 1,567,590 At 30 November 2023 1,124,627 281,293 1,405,920 Financial instruments 2024 2023 Financial assets Financial assets measured at fair value Ihrough income and expendibjre Page 11
The Clemens Neumann Nathan Charitable Trust Notes to the financial staternents For the year ended 30 November 2024 Statement of funds Statement of funds current y& Balance Gainsl At 1112123 Income Expenditure (Losses) Total Unrestricted funds General fvnds 2.539 (5,7151 79.252 Endowment funds Endowment fijnds 1.409.869 161.670 1.571,539 Total of funds 1,492,297 2.539 (5.715) 161,670 1,650.791 Statement of funds prior year Balance At 1112122 Gainsl (Losses) Income Expendtlure Total Unrestricted funds General fvnds 83.669 3.379 (4.620) 82,428 Endowment funds Endowment fijnds 1,348,091 61.778 1,409,869 Ti)tal of funds 1,431.760 3.379 (4,620) 61.778 1.492,297 Page 12
The Clemens Neumann Nathan Charitable Trust Notes to the financial ststements For the year ended 30 November 2024 10 Analysls of net assets between funds Analysis of net assets between funds- current year Endowment Unrestricted Funds Funds 2024 2024 Total 2024 Fixed asset investments Current assets 1,567,590 1,567,590 83,201 79,252 Total 1.571,539 79,252 1,650.791 Analysls of net assets between funds- prlor year Endowment Unrestricted Funds Funds 2023 2023 Total 2023 Fixed asset investments Current assets 1,405,920 3,949 1,405,920 86,377 82,428 Total 1,409.869 82,428 1,492,297 11 Controlling party The Trustees are deemed to be the tharivs controlling party. Page 13