Charity registration number 1186856
## **The Chamifealion Charitable Trust**
**Trustees’ annual report and financial statements**
**For the period 1[st] January 2024 to 31[st] December 2024**
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## **The Chamifealion Charitable Trust**
|**Contents**|**Page**|
|---|---|
|Legal and administratve informaton|3|
|Trustees’ Report|4 - 7|
|Independent examiner’s report|8|
|Statement of fnancial actvites|9|
|Balance sheet|10|
|Notes to the fnancial statements|11 - 13|
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Registered Charity No. 1186856
## **The Chamifealion Charitable Trust**
## **Legal and Administrative information**
## **Trustees**
Fiona Karet, FRCP, FMedSci Michael Frankl, MBE Paul Frankl
## **Principal Address**
64 Riverside Place Cambridge CB5 8JF
## **Bankers**
Lloyds Bank 120 Lewisham High St, Lewisham, London SE13 6JG
## **Investment Managers**
Gore Browne Investment Management Chequers Court 37 Brown Street Salisbury Wiltshire SP1 2AS
## **Independent Examiner**
Stuart Arrandale Chartered Accountant 23-25 Gwydir Street Cambridge CB1 2LG
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Registered Charity No. 1186856
## **The Chamifealion Charitable Trust**
## **Trustees’ report**
## **For the period 1[st] January 2024 to 31[st] December 2024**
The Trustees present their report together with the financial statements of the Trust for the period ending 31[st] December 2024
## **Statement of Trustees Responsibilities**
The trustees are responsible for preparing the Trustees’ Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently
- observe the methods and principles in the Charities SORP
- make judgements and estimates that are reasonable and prudent
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 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.
## **Structure, governance and management**
The trustees are listed on page 3.
New trustees may be appointed by the current trustees, with the maximum number of trustees at any time being four. No trustee shall be remunerated by the charity for their services, other than payment of any reasonable expenses incurred in their duties, nor shall they have any financial interest in transactions with, or property held by the charity. Decisions are taken at duly constituted meetings of the trustees by majority vote, though informal decisions can be made, subject to ratification at the next trustees' meeting. The trustees meet periodically to decide which institutions receive grants.
The Chamifealion Charitable Trust was established by Trust Deed dated 1 December 2019 and registered on 10 December 2019.
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Registered Charity No. 1186856
## **The Chamifealion Charitable Trust Trustees’ report for 2024 continued**
## **Objectives and activities**
The objects of the charity are:
to assist in such ways as the Trustees think fit any charity whose objects are concerned with (1) the advancement of health for the benefit of the public, through the support of scientific research into diseases and public health improvement carried on by registered charities in treatment of the sick;
(2) The prevention or relief of poverty anywhere in the world by providing or assisting in the provision of education, training and all the necessary support designed to enable individuals to generate a sustainable income and be self-sufficient;
(3) advancing education of persons under the age of 25 years by developing their mental, physical and moral capabilities
(4) the advancement of the arts, in particular music, for the public benefit by the support of musical events and programmes and educational programmes for musicians;
(5) the advancement of the Jewish religion for the benefit of the public through the support of Jewish education and social welfare and Jewish representation in ecumenical and interfaith activities.
## **Grant-making policy**
Grants are made to exceptional individuals and organisations, with the aim furthering the mission statement of the trust. The Charity Trustees welcome proposals that support their funding priorities from organisations. Applications are received from unsolicited organisations, individuals and personal contacts.
Applications are reviewed by the trustees and an appraisal is made of each application. Each case is judged against the following criteria before decisions are made to approve funding:
- The Charity Trustees will usually only award grants to organisations based in the United Kingdom ( **UK** ), particularly in East Anglia and the South East that are registered as charities with the Charity Commission for England and Wales, the Office of the Scottish Charity Regulator and/or the Charity Commission for Northern Ireland.
- The Charity Trustees will usually make grants of between £100 and £3000.
- Grants can be used only to cover costs that are directly connected to carrying out the charitable activities that the Charity Trustees have agreed to fund.
## **Achievements and performance**
The Trustees met three times during the year. At the first meeting a donation budget was agreed as follows:
|Health|£4,250|
|---|---|
|Poverty|£4,320|
|Educaton|£2,500|
|Jewish|£3,000|
|Arts|£1,750|
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Total
£15,820
Registered Charity No. 1186856
## **The Chamifealion Charitable Trust Trustees’ report for 2024 continued**
A total of £18,805 was actually donated to 24 different charities. The analysis by sector is shown in Note 1 on page 12.
## **Financial review**
The income from donations and grants plus gift aid was £24,669. Additional investment income of £3,665 was received bringing the total income for the year was £28,313.
The charity’s principal activity following these receipts has been the donation of funds in the form of grants to organisations in line with the objects of the charity. Grants were awarded in the period up to 31[st] December 2023 totalling £18,805. Costs of £2,395 were incurred for the management of the investment portfolio. Total expenditure was £21,650.
Income exceeded expenditure by £6,663 for the year. An unrealized gain of £14,409 from investments brought an increase in funds for the year to a total of £218,218.
## **Risk management**
The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks. The main risk to the Charity is that income is insufficient to allow the Trustees to fulfil their grant making obligations.
## **Investments**
The trustees are responsible for the safekeeping of all assets of the charity. An investment policy has been agreed and passed to our investment advisers. Our objective is to maintain a medium risk strategy and achieve a total return of 3% above RPI over three year rolling periods. The investment policy requires a significant investment in sustainable ecology funds.
## **Aims and objectives for future periods**
We intend to continue to support projects and charities that work to improve health, educational, Jewish and art developments within the UK, along with those that aim to reduce poverty through grants for capital or revenue expenditure.
## **Reserves Policy**
The trustees have agreed to balance each year’s grant giving to match that of incoming donations. The trustees may award additional grants from reserves in exceptional circumstances.
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Registered Charity No. 1186856
## **The Chamifealion Charitable Trust Trustees’ report continued**
## **Public Benefit**
The trustees have complied with the duty in the Charities Act 2011 to have regard to all guidance published by the Charity Commission.
The trustees are mindful of the need for all grants to be made for public benefit. As such this criterion is considered whilst determining which grants to make each year.
For and on behalf of the trustees
March 2025
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**The Chamifealion Charitable Trust**
Registered Charity No. 1186856
## **Independent examiner’s report to the Trustees**
I report to the trustees on my examination of the accounts of the Trust for the period ending 31[st] December 2024.
## **Respective responsibilities of trustees and examiner**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011)’the Act’)
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **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 charity 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**
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Stuart Arrandale Chartered Accountant 23-25 Gwydir Street Cambridge CB1 2LG
## **Date**
9
## **The Chamifealion Charitable Trust**
## Registered Charity No. 1186856
**Statement of financial activities for the period 1[st] January 2024 to 31[st] December 2024**
|||2024||2023|2023|
|---|---|---|---|---|---|
||Notes|£’s|£’s|£’s|£’s|
|Income from:||||||
|Donatons|5|19,889||13,825||
|Gif Aid||4,760||3,002||
|Grants received||0||0||
|Investment Income||3,665||2,778||
|Interest received||0||||
|Total Income|||28,313||19,605|
|Donatons made|1|18,805||15,405||
|Investment Charges|2|2,395||2,190||
|Independent Examinaton||450||330||
|Total Expenditure|||21,650||17,940|
|Net Surplus/(Defcit) for the year|||6,663||1,665|
|Unrealised gain/(loss) on|6||14,409||5,428|
|investments||||||
|Net Movement in Funds|||21,072||7,093|
|Total Funds Brought Forward as at|||197,146||190,053|
|1stJanuary 2023||||||
|Total Funds Carried Forward as at|||218,218||197,146|
|31stDecember 2024||||||
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**The Chamifealion Charitable Trust**
Registered Charity No. 1186856
## **The Chamifealion Charitable Trust Balance Sheet as at 31[st] December 2024**
||||**2024**||**2023**|
|---|---|---|---|---|---|
||Notes|£’s|£’s||£’s|
|Investments|6||200,124||184,445|
|Cash at bank||13,724||13,001||
|Debtors|3|4,760|||0|
|Accruals|4|(390)||(300)||
|Net Current Assets|||18,094||12,701|
|Total Assets|||£218,218|£|197,146|
|Unrestricted Funds|||£218,248||£197,146|
|Total Funds|||£218,248||£
197,146|
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## **The Chamifealion Charitable Trust**
Registered Charity No. 1186856
Notes to the financial statements for the period 1[st] January 2024 to 31[st] December 2024
The principal accounting policies which are adopted in the preparation of the financial statements are set out below;
## **A. Basis of accounting**
The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The Charity constitutes a public benefit entity as defined by FRS 102.
## **B. Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The charity has substantial reserves and retains control over its annual expenditure. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **C. Income**
Donations receivable are accounted for as soon as their amount and receipt are reasonably certain. In the case of unsolicited donations this is usually only accounted for when they are received. All other income is accounted for under the accruals concept.
## **D. Expenditure**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to each category. Charitable expenditure consists of the charitable grants made during the year. Governance costs comprise all costs incurred in running the charity as a legal entity that cannot be directly allocated.
## **E. Investments**
Fixed asset investments are valued at the current market value at the balance sheet date. Any unrealised gains or losses are credited/charged to the Statement of Financial Activities. Realised gains or losses on disposal of investments are included in the Statement of Financial Activities as they arise.
## **F. Taxation**
The Charity is registered as a charity under the Charities Act 2011 and is not liable to UK tax on its charitable activities. The Charity is not registered for VAT. Accordingly, expenses include VAT where applicable.
## **G. Fund accounting**
Funds held by the charity are unrestricted general funds which can be used in accordance with the charitable objects at the discretion of the trustees.
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## **The Chamifealion Charitable Trust**
Registered Charity No. 1186856
Notes to the financial statements for the period 1[st] January 2024 to 31[st] December 2024 (Continued)
## **1. Charitable Activities**
Grant Making
Grants were made to a variety of charities in line with the objectives of the charity:
|**2023**||||
|---|---|---|---|
|Health|9|charites|£4,275|
|Poverty
Educaton|8
2|charites
charites|£5,520
£900|
|Jewish
Arts|8
4|charites
charites|£3,710
£1,850|
|**Total**|||**£15,405**|
|**2024**||||
|Health|6|charites|£3,550|
|Poverty
Educaton|7
4|charites
charites|£7,780
£3,975|
|Jewish
Arts|5
2|charites
charites|£2,000
£1,500|
|**Total**|||**£18,805**|
## **2. Governance costs**
||**2024**|**2023**|
|---|---|---|
|Independent examinaton|£410|£330|
|Investment charges|£2,395|£2,190|
|Bank charges|0|0|
|**Total Costs**|**£2,805**|**£2,520**|
|**3. Debtors**|**2024**|**2023**|
|Gif Aid receivable|£4,760|0|
|**Total debtors**|**£4,760**|**0**|
|**4. Creditors**|**2024**|**2023**|
|Accruals|£390|£300|
|**Total creditors**|**£390**|**£300**|
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## **The Chamifealion Charitable Trust**
Registered Charity No. 1186856
Notes to the financial statements for the period 1[st] January 2024 to 31[st] December 2024 (Continued)
## **5. Related party transactions**
|**5. Related party transactons**|||
|---|---|---|
||**2024**|**2023**|
|Total donatons received from trustees|£19,000
|£12,000|
|There were no other related party transactons in the year.|||
|**6. Investments**|||
|**Market Value**|**2024**|**2023**|
||£’s|£’s|
|UK Fixed Interest|34,103|20,451|
|Equites|142,721|95,482|
|Alternatves|21,035|56,174|
|UK cash|2,265|12,338|
|Listed Investments dealt with on a recognised|||
|Stock exchange|200,124
|184,445|
|**Quoted Investments**|||
|Opening Value as at 1stJanuary 2024|184,445|178,429|
|Additonal investments||0|
|Capital Paid out||0|
|Net Realised Investment gains|||
|Net Unrealised Investment gains/(losses)|14,409|5,428|
|Income reinvested|||
|Interest income reinvested|3,665|2,778|
|Investment Manager’s charges|(2,394)|(2,190)|
|Closing Value as at 31stDecember 2024|200,124|184,445|
|Historic Cost as at 31stDecember 2024|187,995|182,885|
## **7. Net assets by fund**
|Fund balance at 31stDecember 2024 are represented by:
**2024**
Investments
£200,124
Net Current Assets
£18,094
Total
£218,218|**2023**
£184,445
£12,701
£197,146|
|---|---|
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