REGISTERED CHARITY NUMBER: 1170844 Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2024 THE MARK GLASER FOUNDATION Sandison Lan8 Limited 2 St Marys Road Tonbridge Kent TN9 2LB
THE MARK GLASER FOUNDATION Content5 of the Financial Statements for the Year Ended 31 December 2024 Pa8e Report of the Trustees ststement of Financlal Activltles Balance Sheet Notes to the Financial Statements Detailed Statement of Flnancial Activlties io
THE MARK GLASER FOUNDATION Report of the Trustees forthe Year Ended 31 December 2024 The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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 IFRS 1021 (effective l January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims l.Advancement of the Jewish Religion. 2.To promote harmony, tolerance and understanding between people of different religions 3.To promote research into causes and treatment of all types of cancer 4. The relief of persons in need suffering from cancer and other diseases. FINANCIAL REVIEW Reserves policv Maintain sufficient reserves to cover the running expenses of the charitv. 5TRucfuRE, GOVERNANCE AND MANAGEMENT Governing document The charity 15 controlled by it5 governing document, a deed of trust and constitutes an unincorporated charity. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1170844 Principal address Colman Coyle Solicitors Wells House 80 Upper Street London NIONU Trustees Professor M G Glaser N V Curbison R Coyle l Felice H J M Levy (appointed 1.12.20241 Approved by order of the board of trustees on and signed on its behalf bv.. Professor M se rustee Page I
THE MARK GLASER FOUNDATION Statement of Financial Activities for the Year Ended 31 December 2024 2024 Unrestricted fund 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Investment income Other income 7,490 1,000 Total 8.490 EXPENDITURE ON Raisin8 funds 6,853 13,459 Charitable artivities Grant to or8anisation 87,750 52,000 Other 10,783 Total 94,603 76.242 NET INCOMEIIEXPENDITURE) 186,1131 176,2391 RECONCILIATION OF FUNDS Total funds brought forward 394,820 471,059 TOTAL FUNDS CARRIED FORWARD 308,707 394.820 The notes form part of these financial statements Page 2
THE MARK GLASER FOUNDATION Balance Sheet 31 December 2024 2024 Unrestrirted fund 2023 Total funds Notes FIXED ASSETS Tangible assets 4OJ,(X)O CURRENT ASSETS Cash at bank 9,547 380 CREDITORS Amounts falling due within one year 15,5601 NEf CURRENT ASSETS 8,707 15, 1801 TOTAL ASSETS LESS CURRENT LIABILITIES 308,707 394,820 NET ASSETS 308,707 394,820 FUNDS Unrestrirted funds 308,707 394,820 TOTAL FUNDS 308,707 394,820 The financial statements were approved by the Board of Trustees and authorised for issue on ..LZ. -..A... 4..LQ.((.)... and were signed on its behalf by.. MGGlas ee The notes form part of these financial statements Page 3
THE MARK GLASER FOUNDATION Notes to the Financial Statements for the Year Ended 31 December 2024 ACCOUNTING POLICIES Basis of preparin8 the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 '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 IFRS 1021 (effective l 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 been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds. it is 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 obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as commitment but not accrued as expenditure. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold propertv in accordance with the property Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted 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 statement5. Page 4 continued...
THE MARK GLASER FOUNDATION Note5 to the Financial Statements- continued for the Year Ended 31 December 2024 INVESTMENT INCOME 2024 2023 Rents received Deposit account interest 7,483 7,490 RAISING FUNDS Raising donations and legacies 2024 2023 Support costs 6.853 13,459 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Trustee5' expenses There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIE5 Unrestricted fund INCOME AND ENDOWMENTS FROM Investment income EXPENDITURE ON Raising funds 13,459 Charitable artivities Grant to organisation 52,000 Other 10,783 Total 76,242 Page 5 continued...
THE MARK GLASER FOUNDATION Notes to the Financial Statements - continued for the Year Ended 31 December 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES - continued Unrestricted fund NEf INCOME/(EXPENDITURE) 176,2391 RECONCILIATION OF FUNDS Total funds brought forward 471,059 TOTAL FUNDS CARRIED FORWARD 394,820 TANGIBLE FIXED ASSETS Freehold propertv COST At l January 2024 Disposals (100,000) At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 400,000 Page 6 continued...
THE MARK GLASER FOUNDATION Notes to the Financial Statements- continued for the Year Ended 31 December 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors 5,560 MOVEMENT IN FUNDS Net movement in funds At 31112124 At 111124 Unrestricted funds General fund 394,820 (86,113) 308,707 TOTAL FUNDS 394.820 (86,113) 308.707 Net movement in funds, included in the above are a5 follows.. Incoming resources Resources expended Movement in f unds Unrestrirted funds General fund 8.490 (94,603) (86,113) TOTAL FUNDS 8,490 (94,603) {86,113) Comparatives for movement in funds Net movement n funds At 31/12123 At 1/1123 Unrestricted funds General fund 471,059 176,2391 394,820 TOTAL FUNDS 471,059 176,2391 394,820 Page 7 continued...
THE MARK GLASER FOUNDATION Notes to the Financial Statements - continued for the Year Ended 31 December 2024 MOVEMENT IN FUNDS- continued Comparative net movement in fund5, included in the above are as follows: Incoming resources Resources expended Movement in fund5 Unrestricted funds General fund 176,2421 {76.2391 TOTAL FUNOS 176.2421 {76,2391 A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 31112124 At 111123 Unrestricted funds General fund 471,059 1162,3521 308,707 TOTAL FUNDS 471,059 {162,3521 308,707 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 8,493 (170,845) 1162,352 } TOTAL FUNDS 8,493 1170,8451 1162,3521 Page 8 continued..
THE MARK GLASER FOUNDATION Notes to the Financial Statements - continued for the Year Ended 31 December 2024 RELATED PARTY DISCLOSURES During 2020 Dr Mark Glaser donated a 25% interest in his property at 14 Campden Street, London W8 7EP to the Charity, at an equivalent value of £500,1XX). Following an order of the Charity Commission dated 25th March 2022, Dr Glaser purchased back 3% of this property and in 2023 He purchased a further 2% back. Following an order of the Charity Commission dated Ilth April 2023, Dr Glaser purchased a further 5% back so that by the end of 2024, the Charity owned 15% of the property. Following a valuation of the property. the 5% share was purchased back for £IOI,(MXJ which represents a £l,(YJJ gain for the Charity, Page 9
THE MARK GLASER FOUNDATION Detailed Statement of Financial Activities for the Year Ended 31 December 2024 2024 2023 INCOME AND ENDOWMENTS Investment income Rents received Deposit account interest 7,483 7,490 Other income Gain on sale of tangible fixed assets Total incoming resources 8,490 EXPENDITURE Charitable activities Grant5 to institution5 87,750 52,01 Support costs Inforniation technolo8V Repairs and renewals 5,783 Governance costs Accountancy and legal fees Publicity and awareness 6,853 13,459 6,853 18.459 Total resources expended 94,603 76,242 Net expenditure (86,113) 176,2391 This page does not form part of the statutory financial statements Page 10