REGISTERED CHARITY NUMBER: 1168728 Report of the Trustees and Unaudited Financial Statements for Ihe Year Ended 5 April 2025 for The Neumark Foundation Salisbury & Company Chartered Accountants Irish Square Upper Denbigh Road Sl Asaph Denbighshiie LL17 ORN
The Neumark Foundation Contents of the Finala1 Ststements for the year ended 5 April 2025 Page Report of the Truslees 1 10 4 IndèpendÈnt Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8 to 12
The Neumark Foundation Report of the Trustees for the year ended 5 A41ri12025 The truslee5 present their report Wtth the financial slalements of the charity for th8 year ended 5 April 2025_ The tnjstees have adopted thB provisions of Accountin9 and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iland IFRS 102) (effective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims The principal object of the charity is for the benefit of the public to promote any purpcws that are charitable according to the laws of England and Wales. The charitable objects must apply the income. and all such parts of the capitsl as the TTUStees think fil Iwhethef Ihrough donations to other charitie5 or by any other charitable means). for or towards such charitable purposes the Trustee5 think lil. Publi¢ benefit The Charity Commission, in ils "Charities and Public Benefiv, Guidance slales that there are Iwo key principles to be mel in order to show that an organisation's aims are for the public benefit= firstly. there must be an identifiable benefit and secondly, that the benefit musl be lo the public or a seclion of the publ. The fru51ees are salisfied that the aims and objectives of the charity, and Ihe activities reported on belDW to achieve those aims, meet these principles. Grantmaking The Charity provided grdnts lo other charitable institutions in order to help fund the charitable seNices they provide_ Page 1
The Neumath Foundation Report of the Truslee5 for the year ended 5 April 2025 ACHIEVEMENTS AND PERFORMANCE Charitable activities Income for the year was £421,62312024- £48.437) 2nd lolal expenses were £256,015 (2024- £167.206)- This produced Surplus for the year of £165,608. During Ihe year grants of £221,713 12024.. 134.729) were ma(Je lo inslilulions_ Unrestricted funds al Ihe year end were £978.070 (2024-. £812,462) The main achievement during the year was the continued provision of charitable grants lo a rangè of various, national and inlemational organisations. The Neumark Foundation has successfully continued to fund tharilable organiSan9 and projects against the remits set out by the Iru51ees throughout the year. The focus of The Neumark Foundation remains stricily wih Improving the lives of children and young people living in North Wales, lo enable them lo overcome disadvanlages as a result of socioeconomic challenges within their families or units, health challenges and disabilities. and those whose lile Ghoices have led them lo require guidance and support from outside agencies and other organisations, to enable them to reach their true potential. Improving and enhancing educational. social and personal development. in addib.on lo wellbeing improvemenl. are the Foundations, key priorities when considering activity for fijnding. Funding is direcled towards or9anisalions and projects that have proven effectiveness in their charity business models. and regular monitoring through our monthly reporting requirement ensures that we are quickly able lo idenhfy any good or PODr practice, or any other iSSLtes that occur during the funding period and raise issues or highlight good practice with funding recipients. Reporting templates are nol standardise(l. but designed alongside each funding recipient, lo suit the nature of the activity the Foundation is supporting. The Foundation's application and decision-making processes continued lo be dearly communicated and reviewed during thè year. Early conversations. meetings and visi@ are ioutinely undertaken lo ensure alignment with the Foundation's obieclive5 and lo avoid tsnnecessary work for applicants. Application development 15 SUPPOrted by the Project Funding Manager and CEO, and in some cases applicants are invited lo present directly to Irvslee5 where Ihis would support informed decision-making. particularly for complex or innovative proposals. Most funding decisions are made al quartlerly Board meetings. with flexibility retained to consider urgent or exceptional applications where necessary. The Foundation retains a sirong preference lor supporting smaller. locally-based otganisalions whose impact may not be widely recognised due to limiled capaGity or resources. We a15D spend titne researEhing and identtfying, approaching and communicatiro with these organisations. lo see if. for suitable organisalions. there is anything that we may be able lo support with. Beyond grant funding, the Fcwlldalion continued to provTde value-added support to funded organisalion5, including networking opportunities, introductions to relevant partners, and guidance to support organisational development. DLtring the year this included SUPPDrt for KIM Inspire. enabling the progression of a pioneering project supporting neurodivergenl girls and young women from a six-monlh research and (Jevelopment phase into delivery. The FDundalion also supported CDllaborahve working belween exisliro beneficiaries. A notable example was a partnership befween DangerPoinl and Youlh5hedz. combining expertise in youth education to develop an innovative virtual reality knrfe-crime prevention film. This resource will now be used by North Wales Police as part of their prevenfalive education work. The Neumark Foundation procps5es and procedure5 continue to develop year on year, lo ensure Bontinuou5 improvamanl wilh th& support provid8_ We conStanY assess our relationships and our role as a fund8r. We proactively build and maintain relationships in a wide range of sectois. We listen lo hoiv areas that we are interested in supporting are operating, and how, using our assets as a funder and connector, we can help lo make 3 difference. Our approach. we think makes us a kinder funder who looks to build strong relationships with the organisalions we ivork with. We've allY brought to life the principle of being relalional and we will continue to put Ihis principle in aclion. Fundraising activities The Charity had no fundraising activities requiring disclosure under S162A of the Charities Act 2011. Page 2
The Neumark Foundation Report of the Trustee5 for the year ended 5 April 2025 ACHIEVEMENTS AND PERFORMANCE Investment pèrfomiance Since 1st April 2025, the Charity's investmBnts have been managed by Union Banque Privee (UK) Limited - formerly Kleinwort Hambros. For the period from 6 April 2024 to 5 April 2025, The Neumark Foundation Discretionary Portfolits (managed to a Resptsnsiblo Balanced Strategy). retumed 4.49% vs benchmark return of 0.94Dk.12023-24. 8.28% and 7.19'knl. For the period from 6 April 2024 to 5 April 2025. The Neumark Foundation Execution Only portFolio returned 2.42% 12023_24. -5.310/D)- There is no slated benGhmark for this Execution Only portfolio_ FINANCIAL REVIEW Principal funding sources The principal funding of the trust is by donations received from P Neumark. Reserves policy The Tmsleès consider that the r8s8rv8s of the Trust should bè sufficient to guarantee the long term future of the Trust. Unrestricted serveS of Ihe Trust al 5 April 2025 was £978.07012024.' £812,462). Golng concern After making appropriate enquiries. the Iruslees have a reasonable expectation thal the charity has adequate resources lo continue in operational QStenCe for Ihe foreseeable future. For this reason. they continue lo adopt the going concern ba515 in preparing the financial statements. Further details regarding the adoption ol the going concern basis can be found in the Accounting Policies_ FUTURE PLANS The Charity's plans for the future are to continue lo provide grants of a charilable nature. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing documènt The charsty is controlled by its governirvJ document. a deed of trust and constilules an unincorporated charity. Charity constitution The Neumark Foundation is con5tiluled by a Tru51 Deed mad8 on 19 April 2016 and is a registered charity. number 1168728. The Charty is controlled by its goveming documenL a Deed of Trust, and consiituted an unincorporated chartty- Organi5ational structure In setting the Charity's policy and planning its activities. the Trustees have given careful con5ider3tion lo the Charity Commission's general guidance on public benefit. The management of the Charity is the responsibility of the Trustees. Risk management The Iruslees have a duty lo identify and review the risks to which the charity 15 exposed and lo ensure appropriate cr)nlrols are in place to provide reasonable assurance against fraud and error. REFERENCE AND ADMINISTRAllVE DETAILS Reg15tered Charity number 116B72B Principal address Ivy House 37 Kennedy Road Shrewsbury Shropshire SY3 7AA Trustees Mr P S Neumark Company Director IAr R A Salisbury Ms M N Prytherch Mr S Becker {resigned 2416124) Mr J G Barnes Mr T P Elliott s M B J Neumark hAs R E Neumark Pagg 3
The Neumarf( Foundation Report of the Trustees for the year ended 5 April 2025 REFERENCE AND ADPalNISTRATNE DETAILS Independent Examiner Salisbury & Compar*y Chartered Accountants Irish Square Upper Denbigh Road Sl Asaph Denbighshire LL17 ORN Approved by order of the board Df trustees on 17 December 2025 and signed on its behall by". Ms R E Neutnark- Trustee Page 4
Independent Examinerfs Report lo the Trustees of The Neumark Foundation Independent examlnerfs report to the trustee5 of The Neumark Foundation I report to the charity Iruslees on my examinalion of the account5 of The Neumark Foundation (the Tru5t} for the year ended 5 April 2025. Responsibilities and ba515 of repc)rt As the charity trustees of the Tru51 you are re5pon5ible for the preparation of the account5 in accordance with the reqL¢irements of the Charities Act 2011 ('Ihe Act,). I report in respect Df my examination of the Trust's accoun15 caryted otrt under Section 145 of the Act and in carrying out my examinalion I have followed all applicable Directions given by Ihe Charity Commission under Section 145(5llb) of the Act. Independent examlnefs statement Since your charity's gr055 income exceeded £250,000 your examiner musl be a member of a 1151ed body. I can confirm that l am qualtfied to undertake the examination because l am a mernber of the Institute of Chartered Accountan15 in England and Wales. which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my aMentlDn in connection with the examination giving me cause to believe that in any material respect: accounting records were not kepl in respect of the Trust as required by Section 130 of the Acl., or the accounts do not accord th those records.. or the accounts do not comply ivith the applicable requirements conceming th8 form and corilent of accouftls set out in the Charities (Accounts and Reports) Regulations 2008 olher than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent exarnination. I have no concerns and have come across no other matte[5 in conneclion with the examination lo which attenlion should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Jeremy C. Salisbury The Inslilule of Chartered Accountants in EnglaNJ and Wales Salisbury & Company Chartered AcGounlanls Irish Square Upper Denbigh Road st Asaph Denbighshire LL17 ORN 17 December 2025 Page 5
The Neumark Foundation Statement of Financial Activities for the year ended 5 April 2025 2025 Unrestricted fund 2024 Total fulld5 Noleg INCOME AND ENDOWMENTS FROM Donations and legacies 419.965 39.733 Inveslm&nl income 1,658 8,704 Total 421.623 48,437 EXPENDITURE ON Raising funds 16,849 7.857 Charitable activities Donations 239.166 158.938 Other 411 Tolal 256,015 167.206 NET INCOMEI(EXPENDITURE) 165,608 (118.7691 RECONCILIATION OF FUNDS Total funds b¥oughl lopNard 812.462 931,231 TOTAL FUNDS CARRIED FORWARD 978,070 812,462 The notes fom part of these financial stalernenls Page 6
The Neumark Foundation Balance Sheet 5 April 2025 2025 2024 Total funds Unreglricted fund Notes FIXED ASSErs Tangible assets Investments 577 923,523 742 731,197 924.1 731.939 CURRENT ASSEtS Cash al bank 54.070 81,998 CREDrroRS Amounts falling due wthin one year {1(KJl 11,4751 NEf CURRENT ASSErs 53,970 80,523 TOTAL ASSETS LESS CURRENT LIABILMES 978,070 812,462 NET ASSETS 97B,070 812,462 FUNDS Unrestricted funds 978,070 812,462 TOTAL FUNDS 978,070 812,462 The financial statements were approved by fhe Board of Trustees and authorised for issue on 17 December 2025 and were signed on its behalf by.. Vr, Ms R E Neumark - Trustee The notes fomi part of these financial statements Page 7
The Neumark Foundation Notes to the Financial Statements for the ar ended 5 April 2025 ACCOUNTING POLICIES Basis of preparing the financial ststemenls The financial statements of the charity. which is a public benefit entity under FRS 102, havè been prepared in accordance with the Charities SORP IFRS 102) 'Accounling and Re?orting by Charities- Statement of Recommended Practice applicatjle to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 1021 (effective 1 January 20191., 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 beèn pr2pared under the historical cost convènlion, with the exception of inveslrnenls which are 5ncluded at market value. as modified by the revaluation of certain assets. Income All income is recognised in the Slalemenl of Financial Activities once the charity has entsllernenl lo the funds, it 15 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 Obligat1n committing the charity to that expenditure. il is probable Ihal a Iransfer ol economic benefi'ts will be required in sèlllement and the amount of the obligation can be measured reliably. Expenditure is accoknnled lor on an accruals basis and has been classified under headings that aggregate all cosl related to the category. Where c0515 cannot be directly altribuled lo particular headings they have been allocated to activities on a basis consislenl with the use of resources. Grants offered subject lo conditions which have not been mel al the year end dale 3fe noled as 3 commitment but not accrued as expenditure. Tangible fixed assèts Depreciation is provided al the following annual rates in order to write ott each a55et over its è5timaled useful life. Plant and machinery 20Y(t on cost Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charilable objectives at the discretion of the Iruslees. Restricted funds can only be used for particular reslrided 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. Pension Gosts and other post-retirement benefits The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension Scheme are charged lo the Statement of Financial Activities in the period to which they relate. INVESTMENT INCOME 2025 2024 Dividends received Interest received Revaluation of Investments 13.527 2,817 (14.686) 10.199 1.555 13,050) 1.658 8,704 Page 8 continued...
The Neumark Foundation Not25 to the Financial Statements - continued for the year ended 5 April 2025 RAISING FUNDS Raising donations and legacies 2025 2024 Support Costs 860 1.008 Investmerrt management costs 2025 2024 Support costs 15,824 6,849 Aggregate amounts 16,849 7.857 TRUSTEES, REMUNERATION AND BENEFITS There were no Irustees. remuneration or other benefits for the year ended 5 April 2025 nor for thè year ended 5 April 2024. Tru5tee5' expenses There were no trustees, expenses patd for the year ended 5 April 2025 nor for the year ended 5 April 2024. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Uftreslricled fund INCOME AND ENDOWMENTS FROM Donations and legacie5 39,733 Inveslmenl Iorne 8.704 Total 48,437 EXPENDITURE ON Raising funds 7,857 Charitable activities Donations 158,938 Olher 411 Total 167,206 NEf INCOMEIIEXPENDITURE) 1118,769) RECONCILIATION OF FUNDS Total funds brought forward 931,231 TOTAL FUNDS CARRIED FORWARD 812,462 Page 9 continued...
The Neumark Foundation Notes to the Financial Statements - continued for the year ended 5 April 2025 TANGIBLE FIXED ASSETS Plant and machinery COST At 6 April 2024 and 5 April 2025 824 DEPRECIATION Al 6 April 2024 Charge for year 82 165 Al 5 April 2025 247 NET BOOK VALUE At S April 2025 577 Al 5 April 2024 742 FIXED ASSET INVESTMENTS Shares in group undertakings Listed investments Totals MARK&f VALUE Al 6 April 2024 Additions Disposals Revaluations 100 731.097 300,000 1100,000) 17,6741 731,197 300,000 (100,0001 17,6741 Al 5 April 2025 100 923,423 923,523 NET BOOK VALUE At 5 April 2025 100 923.423 923,523 Al 5 April 2024 100 731.097 731,197 There were no inveslmenl assets outside the UK. Cost or valuation at 5 April 2025 is represented by: Shares in group undertakings Listed inveslments Totals Valuation in 2022 Valuation in 2023 Valuation ir$ 2024 V21uatitsn in 2025 Cost 1,217,604 1412,286) {74,2211 192,326 1,217,604 1412,2861 174,2211 192.326 100 100 923,423 923.523 Page 10 conlinuèd...
The Neumark Foundation Notes to the Financial Statements - continued for the year ended 5 April 2025 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 202S 2024 other credilor5 100 1,475 MOVEMENT IN FUNDS Nel mtsvemènt in funds Al 514125 At 614124 Unrestricted f unds General fund 812.462 165.608 978,070 TOTAL FUNDS 812.462 165.608 978,070 Net movemenl In fund5, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 421.623 1256.015) 165,608 TOTAL FUNDS 421.623 {256,015) 165.608 Comparativès for rnovement in funds Nel movement in funds Al 514124 At 614123 Unrestricted funds General fund 931.231 1118.769) 812,462 TOTAL FUNDS 931.231 (118.769) 812.462 ComparatNe nel movement in funds. included in the above a as follows-. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 48,437 (167,206) 1118.7691 TOTAL FUNDS 48.437 (167,206) 1118.7691 Page 11 continuèd_
The Neumark Foundation Notes to the Financial Statements- continued for the year ended 5 Aprll 2025 MOVEMENT IN FUNDS- continued A current year 12 month5 and prior year 12 months combined position is as follows- Nel movement in funds At 514125 At 614123 Unrestricted funds General fL+nd 931.231 46,839 978,070 TOTAL FUNDS 931.231 46,839 978,070 A current year 12 months and prior year 12 months combined net movement in funds, iluded in the above are as follows: Incoming resources Resources expended Movement in fLtnds Unrestricted funds General fund 470,060 (423.221) 46,839 TOTAL FUNDS 470,060 1423,221) 46.839 10. RELATED PARTY DISCLOSURES At 5 April 2025 and 2024. Ihe Charity owed £100 to Veloce Mjtorsports Limited in respect of unpaid share capital. Page 12