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2022-12-31-accounts

THE MANSON FAMILY CHARITABLE TRUST

Registered Charity No: 1168888

FINANCIAL STATEMENTS

31 December 2022

FISHER PHILLIPS LLP

Chartered Accountants Summit House 170 Finchley Road London NW3 6BP

THE MANSON FAMILY CHARITABLE TRUST

FOR THE YEAR ENDED 31 DECEMBER 2022

LEGAL AND ADMINISTRATIVE INFORMATION

The trustees: J L Manson E D Manson L C Ornstein A A Manson H R Peters Chairperson: J L Manson Principal place of business: 4 Parklands Whitefield Manchester M45 7WY Independent Examiner: Fisher Phillips LLP Summit House 170 Finchley Road London NW3 6BP

THE MANSON FAMILY CHARITABLE TRUST

FOR THE YEAR ENDED 31 DECEMBER 2022

CONTENTS

Pages
Trustees' Report 1-3
Independent Examiner's Report 4
Statement of financial activities 5
Balance sheet 6
Statement of cash flows 7
Notes to the accounts 8-13

THE MANSON FAMILY CHARITABLE TRUST Charity Number: 1168888 TRUSTEES REPORT

FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees present their report together with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the Charity.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2022 and 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.

Trustees

Trustees
The following trustees held office during the year: J L Manson
A A Manson
L C Ornstein
E D Manson
H R Peters
Chairperson: J L Manson
Principal place of business: 4 Parklands
Whitefield
Manchester
M45 7WY

Appointment of trustees is governed by the trust deed. The Board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.

The charity's limited scale of operations means that there is no formal organisational structure. Training is and will continue to be provided as and when trustees are inducted.

Investment Powers

The trust deed authorises the trustees to make and hold investments using the general funds of the trust.

Structure, governance and management

The Manson Family Charitable Trust is registered as a charity on 24 August 2016 (Registered number 116888) and is governed in accordance with its trust deed dated 01 September 2015 and the requirements of the Charities Commission and best practice guidelines.

The management, operation and governance of the charity are the responsibility of the Trustees, appointed under the terms of the trust deed. They meet regularly and a Chairman has been appointed. All trustees give of their time freely and are unremunerated, and cover their own expenses. There are currently five trustees including the Chairman.

All trustees have been made aware of their responsibilities and operate under the best practice code as recommended by the Charities commission.

The trustees have ensured that they have complied with section 17 of the Charities act 2022 with due regard to public benefit and are happy that they are continuing to provide Charitable services to the community.

We would like to acknowledge and thank Jonathan Manson who created this charity through his generosity and vision. Jonathan has been involved with various charities over the years and felt he would like to create a means to help people in need more directly, and without the cost that by necessity larger charities often incur.

He is also keen to help young people where particular medical or education support might be necessary as well as general health, religious and social well being organisations.

Having established this charitable trust in September 2015, he appointed us as Trustees and guided us as to how he would most like his funds used. He provided initial funding of £1,938,262 in 2017 via gift of shares.

1

THE MANSON FAMILY CHARITABLE TRUST Charity Number: 1168888 TRUSTEES REPORT (continued)

FOR THE YEAR ENDED 31 DECEMBER 2022

Objectives and activities

The charitable trust has been established to primarily help and promote education, religous and social well being organisations and charities. Other charitable causes will be considered as the Trustees see fit.

The Charity will incur no expenses (other than essential accounting, investment management and legal services where absolutely necessary).

Support will be provided by giving grants to established charities, particularly small charities with focussed youth, education and/or religious related causes, run by passionate people with a personal interest / passion in the particular cause, and where it is felt that we can truly make a difference.

75% of grants are expected to be made with regard to UK causes, with overseas charities being considered where they meet a similar criteria and accepting that often the benefit will reach maybe 10 times the number of people on the basis that "a little goes a long way" in emerging Countries.

The Manson Family Charitable Trust is a registered charity set up to support charitable causes in the UK and abroad. The objects of the charity are to support charitable causes with a particular focus as defined above.

Highlights in the year under review

Grants totalling £92,150 (2021: £94,009) have been given during the year, and at the year end, retained assets of £1,972,807 (2021: £2,322,643).

Principal core grants have been:-

1.£25,000 (2021: £25,000) to Jerusalem Foundation. The charity is a community foundation dedicated to preserving an open, equitable and modern society in Jerusalem.

  1. £Nil (2021: £Nil) to The Langdon Foundation, a charity which Jonathan Manson is a Trustee and Honorary President. The charity supports people with learning disabilities in the jewish community.

2

THE MANSON FAMILY CHARITABLE TRUST Charity Number: 1168888 TRUSTEES REPORT (continued)

FOR THE YEAR ENDED 31 DECEMBER 2022

Financial Review

The charity incurred charitable expenses during the year of £100,114 (2021: £118,193).

At the year end, the charity had net assets of £1,972,807 (2021: £2,322,643).

Risk Management

The trustees are satisfied that the charity does not face any significant risks apart from the risks usually associated with investment. To mitigate this risk the trustees regularly review investment portfolio performance and ensure that the investment portfolio is well diversified.

Plans for the future

The charity plans to continue supporting various charitable causes in accordance with its charitable objects.

Reserves policy

It is the policy of the trustees to maintain sufficient unrestricted reserves to allow the charity to meet its objects and cover all expenditure, out of the income generated by donations or investments.

Statement of trustees' responsibilities

The trustees are responsible for preparing the Trustees’ Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial period which give a true and fair view of the charity's financial activities during the period and of its financial position at the end of the period. In preparing those financial statements, the trustees are required to:

(a) select suitable accounting policies and apply them consistently;

(b) observe the methods and principles of the Charities SORP (FRS 102);

(d) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;

(e) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at anytime the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2022, the Charity ( Accounts and Reports) regulations and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

On behalf of the board of trustees on 29 March 2023.

J L Manson

Chairperson

3

THE MANSON FAMILY CHARITABLE TRUST

Charity Number: 1168888 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MANSON FAMILY CHARITABLE TRUST

FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees present their report together with the financial statements of the trust for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out on page 5 and comply with the trust deed and applicable law.

Respective responsibilities of trustees and examiner

The trustees of the trust are responsible for the preparation of the accounts. The trustees consider that an audit is not required this year under section 144(2) of the Charities Act 2022 (the 2022 Act) and that an independent examination is needed.

Having satisfied myself that the trust is not subject to audit and is eligible for independent examination, it is my responsibility to:

• follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2022 Act; and • state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the trust and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently, no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.

Independent Examiner's Statement

In connection with my examination, no matter has come to my attention:

1) which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 130 of the 2022 Act; and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2022 Act and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or

2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Steven Frost FCA

Date: 29 March 2023

Fisher Phillips LLP Chartered Accountants Statutory Auditor Summit House 170 Finchley Road London NW3 6BP

4

THE MANSON FAMILY CHARITABLE TRUST

Statement of financial activities

(incorporating an income and expenditure account)

For the year ended 31 December 2022

Note
Income from:
Donations and legacies
2
Investments
3
Other income
Total income
Expenditure on:
Raising funds
Charitable activities:
4
Charitable donations
Administrative expenses
Other
Total expenditure
Net income / (expenditure) before net gains / (losses) on
investments
Net gains / (losses) on investments
Transfers between funds
Other gains / (losses)
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Net income / (expenditure) for the year
Net income / (expenditure) before other recognised
gains and losses		 Unrestricted
£
-
26,686
-
26,686
-
94,640
5,474
-
100,114
(73,428)
(276,408)
(349,836)
-
(349,836)
-
(349,836)
2,322,643
1,972,807		 Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2022
Total
£
-
26,686
-
26,686
-
94,640
5,474
-
100,114
(73,428)
(276,408)
(349,836)
-
(349,836)
-
(349,836)
2,322,643
1,972,807		 2021
Total
£
-
20,976
-
20,976
-
96,518
21,675
-
118,193
(97,217)
219,049
121,832
-
121,832
-
121,832
2,200,811
2,322,643

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements.

5

THE MANSON FAMILY CHARITABLE TRUST

Balance sheet

As at 31 December 2022

Note
Fixed assets:
8
14
Current assets:
Debtors
9
14
Liabilities:
10
12
Total unrestricted funds
Unrestricted funds:
Designated funds
Revaluation reserve
Funds
Creditors: amounts falling due within one year
Investments
Cash at bank and in hand
Cash held in investment portfolio
Net current assets / (liabilities)
General funds
Total funds
Pension reserve
Restricted funds
Total net assets / (liabilities)		 2022
£
214,348
16,188
230,536
(15,195)
-
-
-
1,972,807		 2022
£
1,691,755
65,711
1,757,466
215,341
1,972,807
-
1,972,807
1,972,807		 2021
£
140,181
66,914
207,095
(14,650)
-
-
-
2,322,643		 2021
£
2,000,568
129,630
2,130,198
192,445
2,322,643
-
2,322,643
2,322,643

Approved by the trustees on 29 March 2023 and signed on their behalf by:

J L Manson Chairperson

Charity number: 1156054

The attached notes form part of the financial statements.

6

THE MANSON FAMILY CHARITABLE TRUST

Statement of cash flows

For the year ended 31 December 2022

Note
13
Cash flows from investing activities:
Interest/dividends from investments
Sale/ (purchase) of fixed assets
Proceeds from sale of investments
Purchase of investments
Cash provided by / (used in) investing activities
Cash flows from financing activities:
Repayments of borrowing
Cash inflows from new borrowing
Receipt of endowment
Cash provided by / (used in) financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
14
Net cash provided by / (used in) operating activities
Change in cash and cash equivalents due to exchange
rate movements		 2022
£
(26,686)
-
374,321
(341,916)
-
-
-		 2022
£
(120,364)
5,719
-
(114,645)
196,544
-
81,899		 2021
£
(20,976)
-
1,047,031
(749,890)
-
-
-		 2021
£
(202,239)
276,165
-
73,926
122,618
-
196,544

7

THE MANSON FAMILY CHARITABLE TRUST

Notes to the financial statements

For the year ended 31 December 2022

b) General information The Manson Family Charitable Trust is a registered charity ( charity number: 1168888).The principal place of business is: 4 Parklands, Whitefield, Manchester, M45 7WY.

c) Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

d) Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met. For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

e) Donations of gifts, services and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

f) Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

g) Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

8

THE MANSON FAMILY CHARITABLE TRUST

Notes to the financial statements

For the year ended 31 December 2022

i) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the Trusts programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 4.

j) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

k) Listed investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities.

l) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

m) Cash at bank and in hand Cash at bank and cash 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.

n) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

o) Financial instruments

The charity 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.

9

Notes to the financial statements For the year ended 31 December 2022

THE MANSON FAMILY CHARITABLE TRUST

2 Income from donations and legacies

Income from donations and legacies
Gifts
Cash donations
Donations from UK Listed shares - Jelf Group Plc
Legacies		 £
-
-
-
-
-
Unrestricted		 £
-
-
-
-
-
Restricted		 2022
Total
£
-
-
-
-
-		 2021
Total
£
-
-
-
-
-

3 Income from investments

Income from investments
Bank interest
Other investment income
Dividends from investments		 Unrestricted
£
10,085
-
16,601
26,686		 £
-
-
-
-
Restricted		 2022
Total
£
10,085
-
16,601
26,686		 2021
Total
£
9,655
-
11,321
20,976

10

THE MANSON FAMILY CHARITABLE TRUST

Notes to the financial statements For the year ended 31 December 2022

4 Analysis of expenditure

Charitable donations:
Manchester Jewish School for Special Education - MJSSE
Broom Foundation
Chai Cancer Care
ETZ Chaim - JPS
MJCC
MGS Trust
Gesher Trust
Bury & Whitefield Jewish Primary School (BWJPS)
United Jewish
Manchester Jewish Museum
Jewish Leadership
Prostate Cancer Uk
Whitefield Hebrew Congregation
Aish UK
Community Security Trust (CST)
Jerusalem Foundation
Yad Vashem Uk Pledge
The Fed
Stand with us
The Langdon Foundation
Ma'ayan Project
SMA Trust
Francis House Childrens' Hospice
Spread A Smile
Sudep
Heaton Park Hebrew Rabbi
The Friendship Circle
Other donations
Bank charges
Management fees
Exchange (gain) / loss
Accountancy fees
Independent examiner's fees
Governance costs ( apportioned 50/50)
Total expenditure 2022
Total expenditure 2021		 Charita ble activities £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
779
4,200
Governance
costs		 2022 Total
£
-
-
1,000
-
-
5,000
5,000
1,000
2,500
9,500
2,500
-
1,423
-
3,250
25,000
-
-
-
-
-
-
-
2,750
5,000
-
10,000
18,227
-
12,111
(9,126)
779
4,200
100,114
-
100,114
-		 2021 Total
£
1,000
1,000
2,500
2,500
-
-
5,000
-
-
5,000
-
1,000
1,838
-
3,000
25,000
-
7,000
-
-
-
-
-
-
2,500
1,000
7,969
27,702
-
14,150
5,016
818
4,200
Administrative
expenses
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
12,111
(9,126)
-
-
2,985
2,489
5,474
21,675		 Charitable
donations
£
-
-
1,000
-
-
5,000
5,000
1,000
2,500
9,500
2,500
-
1,423
-
3,250
25,000
-
-
-
-
-
-
-
2,750
5,000
-
10,000
18,227
-
-
-
-
-
92,150
2,490		 4,979
(4,979)		 118,193
-
94,640 - 118,193
96,518 - 118,193

Of the total expenditure, £100,114 (2021: £118,193) was unrestricted and £Nil (2021: £Nil) was restricted.

11

THE MANSON FAMILY CHARITABLE TRUST Notes to the financial statements For the year ended 31 December 2022

5 Net income / (expenditure) for the year

This is stated after charging / (crediting):

This is stated after charging / (crediting): 2022 2021
£ £
Auditor's remuneration:
Audit fees - -
Independent examiner's fee 4,200 4,200
Foreign exchange (gains) / losses (9,126) 5,016

6 Trustees Remuneration and Expenses

None of the charity's trustees received any remuneration neither were they reimbursed expenses during the year. No charity trustee received payment for professional or other services supplied to the charity.

7 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

8 Investments

Investments at fair value:
Investment funds
Listed and unlisted investments
Investment in subsidiary undertakings incorporated in the UK
Movements
Market value at the start of the year
Additions at cost
Disposals at carrying value
Gains / (losses) on investments
Exchange gains / (losses)
Market value at the end of the year		 2022
£
-
1,691,755
-		 2021
£
-
2,000,568
-
1,691,755 2,000,568
2,000,568
341,916
(374,321)
(276,408)
-		 2,078,661
749,890
(1,047,031)
219,049
-
1,691,755 2,000,568

9 Debtors

Accrued interest received
Other debtors - Focus Foundation
Other debtors - Focus Housing NW
Creditors: amounts falling due within one year
Other creditors - Avjon 3 Ltd
Other creditors - Avjon Ltd
Accruals		 2022
£
-
173,523
40,825		 2021
£
-
129,356
10,825
214,348 140,181
2022
£
10,000
300
4,895		 2021
£
10,000
300
4,350
15,195 14,650

10 Creditors: amounts falling due within one year

11 Analysis of net assets between funds

Investments
Net current assets
Long term liabilities
Net assets at the end of the year		 General
unrestricted
£
1,757,466
215,341
-		 Designated
£
-
-
-		 Restricted
£
-
-		 Total
funds
£
1,757,466
215,341
-
1,972,807
1,972,807 - -

12

THE MANSON FAMILY CHARITABLE TRUST Notes to the financial statements For the year ended 31 December 2022

12 Movements in funds
Restricted funds:
Total restricted funds
General funds
Total unrestricted funds
Total funds		 £
-
At the start of
the period		 £
-
Incoming resources
& gains		 £
-
Outgoing
resources &
losses		 £
-
Net
Investment
gain/(loss)		 £
-
At the end of
the period
- - - - -
2,322,643 26,686 (100,114) (276,408) 1,972,807
2,322,643 26,686 (100,114) (276,408) 1,972,807
2,322,643 26,686 (100,114) (276,408) 1,972,807

13 Reconciliation of net income / (expenditure) to net cash flow from operating activities

Net income / (expenditure) for the reporting period
(as per the statement of financial activities)
Depreciation
Interest and dividends from investments
(Gains) / losses on investments
Exchange (gains) / losses
(Increase)/ decrease in debtors
Increase/ (decrease) in creditors
Net cash provided by / (used in) operating activities		 2022
£
(349,836)
-
26,686
276,408
-
(74,167)
545
(120,364)

14 Analysis of cash and cash equivalents
Analysis of cash and cash equivalents
Cash at bank and in hand
Cash held in investment portfolio
Overdraft facility (repayable on demand)
Total cash and cash equivalents		 £
66,914
129,630
-
At 01 January 2022		 Cash flows
£
(50,726)
(63,919)
-		 £
-
-
-
Other
changes		 £
16,188
65,711
-
At 31
December
2022
196,544 (114,645) - 81,899

15 Legal status of the charity

The charity was constituted as a charitable trust on 24 August 2016 by way of a trust deed.

16 Related party transactions

There are no related party transactions to disclose for 2022.

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

13