Charity Rogistration No. 1187179 THE SIR BERNARD & LADY SCHREIER FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE SIR BERNARD & LADY SCHREIER FOUNDATION CONTENTS Pa9e Trustees. report Independent audrtor's report Statement of finanoal aetiwties Balance sheet 10 Noles to the finan¢ial statements 11-18
THE SIR BERNARD & LADY SCHREIER FOUNDATION TRUSTEES AND PROFESSIONALADVISERS Charity number 1187179 Company number CE020177 Trustees Mrs Iris Gibbor Mr Mark Gibbor Dr Luke Gibbor Mr John Smrth Prlncipal address CP House Otterspool Way Watford WD25 &JJ Aecountsnts 81i¢k Rothenberg Mited Chartered Accountsnts 16 Gieat Queen Street Covenl Garden London WC28 SAH Auditor BliL* Rothenberg Audit LLP 16 Gat Queen Street Covent Garden London WC2B 5AII Bankers Barclay5 Bank plc 1 Churchill Place London E14 SHP Investmènt advi$of5 8ardays Investmenl SOIL"0n$ Limited 1 Churchill Place London E14 5HP
THE SIR BERNARD & LADY SCHREIER FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Tnjstees Pfesent their Teport and financial ststements of The &'r Bemard & Lady Schreier Foundation lor the year ended 31 December 2023. The financial slalements have been prepafed in accordance th the accounbng policies set out In note 1 to t*e financial statements and comply the Charity's conslituts'on dated 2 January 2020. the Charities Act 2011 and 'Accounting and Repo.ng by Chants"es.' Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Finanual Repon9 Standard applicable in the UK and Republic of Iland {FRS 102) leffethve 1 January 2019)-. Reference and administrative Inforniatson The Sir Bemard & Lady Sthreier Foundatson 15 registered as a Charity vth the Charty Commis&on, regislratton number 1187179. The Trustees in offiGe during the year and al the tlate of this report. together the addres$ cl the Charity's prin¢tpal and registered office. are a5 set out on page l. Structure, governance and management The Charity Is a chantable 1ncorporated organisatson registered on 2 January 2020. Under the terms of the conslituts"on. the Trustees have the power lo appoint new Trustee5. Apart from Ihe first Trustees, Trustees musl be appointed for a term of the years by a resOlutn passed al a property convened meeting of the Charity Trustees. The existing TTLlStees are responsible for the indu¢ts'on of any new TTUStees %thich would involve having a awareness of a Trustee's responsibilities. the goveming doGument. administrative procedures, and Ihe history and philosophy of the Charity. A new Trustee would Teceive a welcome pack which would Indude copie5 of the previous year's annual report and a¢count5, a brief history of the Chanty and a copy of the goveming document. The pack would also include 3 copy of the Charity Commission guidanrE "Charity Trustee Welcome Pack" issued by the Charity Commission on 29 May 2018. The Trustee5 are respon51ble for strategy and policy and all major dlsIonS are laken by the Trustees. The day lo day administratyon is undertaken by the Trustees. The Trustees examine the major risks Ihat the Charty faces every financsal year. these being the effect of a poor performance ITOM inveslments and a drop in investsnent income and potentsal misuse ol grants made. The Tnjslees have developed systems to monitor and control these ri$ks to mitigate any impact they may have on the Charity in the future. The Tfustees have systems in place to idenlfy any ¢onfiicts of interest that may occur. If a conflict of inteTesl arises. the relevant Trustee agrees to wthdraw trom any di8$S1on and decision mang. Objectives and activities for the benefit of the publi¢ The obiecls of Ihe Charity are for the public benefit foi the advancement of health pnmanly but not exclusively by providing relief and support to people affeded by poor mental hearth and for such other exclu51vely charitable purposes laccording lo the law5 of England Wales) as the Ttustees shall from ts.me to tsme think fit. In setting their ollectives and grant making policy for the year, and irs planning for the fvlure. the Trustees have had due regard to the puNished Charity Commission guidance on the operation of the public benefit quirement of the Chanties Act 2011. and have undertaken appropriate activities in furtherance ol those aims. The Trvstees have establisbed a grant makjng policy to achieve the Charity's obiect5 for the publi¢ benefit. The Truslees received applicatson5 for gfants Irom a wide vanety ol charrtable Institution5 induding those engaged in medical and ancillary services lincluding medical researd)), helping the disabled, and rdieving poverty. The Trustees considered all request5 they received and. to aGhieve the Charity's Dbje¢ts for the public benefft, made grants to variou$ selected applicants in ac¢ordance wlh Its grant making policy.
THE SIR BERNARD & LADY SCHREIER FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Financial review The net movement In lunds for the period amounted to a surplus of £313,853.3812022." deficit £303.848.491. The unrestricted fiJnds amounted lo £4.556.754.52 12022. £4.242.901.141 at the balance sheet dale. The value of Investments at 31 December 2023 was £3,964.660.5712022.' £3,753,094.88). Gains on investrnents In the year were £225.093.61 12022. 105s £403.540.041. Dunng the year the Charity received donatiims under gift aid totslling £103.72012022". £100,000), excluding tax reverable, from one ofthe Trustee5. The Charity's pOvr5 to invest rts funds are set out in the Charty's constitub.on dated 2 January 2020. Any monies not Immediately required for the fvrtherartce ol the Charty's objects may be invested al the discrets.on of the Trustee5. There are no Strictl0nS on Ihe Trustees, power to tnve5t fvnd$. The Trustee5, as guided by their investment adwsers. have established an Investment policy designed both to secure a reasonable income and to protecl the Gapitsl of the Charity. The Trustees w15h lo preserve the capital fund of the Charity to enable it to continue lo support charrtable Causes in future yeafs. After making appropriate enquiries. the Trustees have a reasonable expectatson that the Charity has adequate resources to contsnue in opergtsonal existence for the lorsee3ble luluTe. For Ihis reason they continue to adopt the going concem basis In preparing the financial statements. Further delails regarding the adoption of the going concem basis be found in the Accounting Poliues. Futur8 development To fulfil their public benefit obligatsons the Trustees take a medium lo long-temi wew on the objects of the Charity and rt Is anlicipaled that the Chanty 11 continue for the forseeable future lo support the charitable aims defined in the consbtution. A¢hi¢vements and perti>rmance In the period the Charity achieved its aims, as sel out above in the 'Objectsves and a¢ts"vitses for the benefit of the public. secbon on page 2, by making sixty four grants totalling £141.457.00 {2022 . £109,000.00). Detsils of the grants made can be seen in note 5 on pages 13 10 16 of the finanual statements. ReseNes policy As sndicated above. it is the policy of the Charity to protect its caylal and so to maintain sub5tantsal reserves. Free reserves representing sufficient ftbnds to cover administration and support costs and to respond lo emergency applicOnS for grants %thich arise from time to lime are maintained by the Chanty. It is Intended that grants will be made out of Income and any further grants wll depend on ifivestmenl perforniance. The tree reserves. induding unresthcted Inveslment5. at 31 Decembei 2023 were £4,556.754.52 12022 £4.252.901.141. Fundraising The charity raises funds from Jnvestment retums. li does not run general fiJndraising programmes and so the trustees do not believe that the Fundraising Code is applicable.
THE SIR BERNARD & LADY SCHREIER FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Statemènt of Trustsa$' responsibilities The Tru51ees are responsible for prepanng the Trustees, Rewrt and the finanoat statements in aOrdanCe with applicable law and United Kingdom Accounting Standards (Untted Kingdom Generally Accepted Aeeountsng Practice). The law applicable to charibes in England and Wales requires the Trustee5 to prepare financial stslemenls for each financial year which give a Irue and fair view of the state of affairs of the Charity and of the Incoming iesources and application of reSourS of the Chanty for that year. In preparing these fanCIal statements, the Twstees are required to.. select suitsble a¢¢ountsn9 policÉes and then apply them ConSteny. - observe the methods and principles in the Charsb"e5 SORP," - make judgements and estimates that are reasonable and prudent". state ether applicable accounts.ng standards have been followed. subj'ect to any material departures disclosed and explained in Ihe finanual statements". an¢J prepare the financial statements on the gotng concern basis unless it is inappropriate to presume that the charity wll continue in operation. The Trustees are Tesponsible foT keeping sufficient accounb.ng records that disdose wth reasonable accuracy al any lime the financial posbbon of the Chanty and enable them to ensure that the financial statements comply with the Charities Act 2011. the Charrty IAG¢ounts and Reports) Regulatyons 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Chanty and hence frx taking reasonable steps for the prevention and detection of traud and other irregulariti'es. The Trustees. Teport Wa5 approved by the Board of Twstees. Mrs ris Gibbor Trustee Dated. . IA
THE SIR BERNARD & LADY SCHREIER FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE SIR BERNARD & LADY SCHREIER FOUNDATION Opinion We have audited the financial statements of The Sir Bemard & Lady Schreier Foundab"on Ithe 'Charty'l for the year ended 31 December 2023 thich comprise the slalemenl of financial actsvrties, the balance Sheet and the notes to the financial statements. Including a summary ol signific2nt accounting policies. The finar131 reporting framework that has been applied in their preparatson Is applicable law and Unrted Kingdom Accounting standards, including Financial Reporting StandaTLt 102 The Financial Reporting standa applKable in the UK and Republic of Ir818nd Iunited Kingdom Generally Accepted Accoursting Prathcel. The financial staternenls have been prepared in accordance Accounb"ng and Reporting by Charities prepanng their accoLtnts in accordance th the Finanual Reporting Standards applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounty"ng and Reporung by Charit5es'. Statement of Recommended Practsce issued on l April 2005 vthich is referred lo In the extant regulations bul has been thdrawn. This has been done in order for the accounts to provide a true and tsir view in accordance wth the Generally Accepted Accounbng Practice effective for repo9 periods beginning on or after 1 January 2015. In our opinion. the finanual ststements.. give a true and fair view of the stale of Ihe chanty's affairs as al 31 December 2023 and of its incoming resoue$ and application of resources, for the Ye then ended.. have been property prep&ed In accwdance wlh Unrted Kingdom Generalty Apted A¢counting Pra¢tice,' and have been prepared in a)rdance wlh the requirements of the Charities Act 2011. Basis for opinion We conduded OUT audit in accordark¢e wrth Intematsonal Slandards on Audits"ng IUK} IISA5 IUKII and applicable law. Our responsibilities under If%ose standard5 are lurther described in the Auditorfs responsibile$ for the audit of the finanaal statements secb.on of our Teport. We are independent of the Chanty in accordance with th¢ ethical requiremenls Ihal are relevant lo our audrt of the finan¢ial statements In the UK. Induding the FRC'S Ethical Standard. and we have fulfilled our other ethical respon51bilrties in accordance th these Tequirement5. We believe that the audrt eviden¢e we have obtained is suffirjent and appropriate to Provide a basis for our opinion. Conclusions rèlating to going concern In auditin9 the financial sl*ements, we have conduded that the Trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identsfied any material uncertsinties relating to event5 or conditions Ihat. Individually or collectively. may cast Significant doubt on the Charity's ability lo continue as a going concem for a period ol at least tsve months from when the finanrial statements are authorised for issue. OUT responsibilities and the resn5111tseS of the Trustees vith resped to going concem are deScbe in the levanl sections of this report.
THE SIR BERNARD & LADY SCHREIER FOUNDATION INDEPENDENT AUDITOR'S REPORT ICONTINUED) TO THE TRUSTEES OF THE SIR BERNARD & LADY SCHREIER FOUNDATION OtheT infom)ation The other infornia150n comprises the infornab.on induded In the annual report, other than the finanual statements and our auditor'5 report thereon. The Trustees are responsible for the other informatson. Our opinion on the financial stalernents does not cover the other infomation and, except to the exient olherwise explicitly slated in our report. we do not express any fomi of assurance condu%on thereon. Our responsibility Is to read the other information and. in doing so. consider whether the other infomiation is materially inconsistent wth the financial Statements or OUT knovAedge obtained in the course of the audit or olheThMse appeaTS lo be materially misstated. If we Identsfy such material incongstencies or aPpart material misslalement5, we are required lo detemiine wttether thi5 gives rise lo a malenal misstatement in the financial statements themselves. If, based on the work we have performed. we dude that is a material m155tatement 0¢ this other inforrnation, we are required to report that fact. We have nothing lo Teport in this regard. Matters on vthich are required to report by exception We have nothing to report In Tespe¢t of the Idlowing matters in relation to Nthich the Charities (Account5 and Reports) Regulats"on$ 2008 requtre us to report to you If. In our opinion". the 1nfomiation given in the financial $tatement5 1$ inconslstent in any material respect with the Trustees, report", or the Charity has not kept adequate a¢¢ounts'ng records,. or the financial statements are not in agreement wth ihe accounting record$ and retum$', or we have not received all the infom)alion artd explanatsons we require for our audit. Responsibilities of Trustees As explained more fully In the statement of Twstees. responbi11es. the TfUStee5 are responsible for the preparation ol the financ¢al statements and for being sabsfied that they give a true and fair view. and for such Internal control as the Trustees determine is necessary to enable the preparabon of financial Statements that are free from material misslatement, whether due to fraud or effor. In p paring the financial statements, the Trustees a spOnSible for assesgng the Charity's ability lo continue as a going concem. disdosing, as applicable. matter5 related lo going coneern and using the going concem basis of accountsng unless the Trustees ether Intend to cease Operat1$, OT have no realistic alternative but to do so. Auditof5 rèsponsibklltiès for the audit of the financial slatsmènts We have been appointed as auditor under 5ethon 144 of the chanb.es Act 2011 and report in accordance with regulations made under section 154 of that Act.
THE SIR BERNARD & LADY SCHREIER FOUNDATION INDEPENDENT AUDITOR'S REPORT ICONTINUED) TO THE TRUSTEES OF THE SIR BERNARD & LADY SCHREIER FOUNDATION Our objectives are lo obtain feasonable assurance about vhether the finanaal stslements as a Who are free from material misststement. thether due to fraud or error, and lo Issue an aL)dilor's report that includes our opinion. Reasonable assurance is a high level of assurance. bul Is not a guarantee that an audit conducted in accordance ISAS IUKI wll always delecl a material mis5talefnenl when it exists. Misstaternenls can anse from fraud or effor and are considered matenal if. individually or In the aggregate, they could reasonably be expected to influence Ihe economic decisions of users taken on Ihe basis ol these financial statefflents. ITregularitie$, including fraud, are instances of non-compliance with laws and regulab"on$. We design procedures in line with our responsibilitses. outlined above, to detect material misstatements in respect of Irregulanties. induding fraud. The extent to which our procedures are capable of detecbng irregulanties. including fraud is detailed below the engagement partner ensured that the engagement team ccllecaively had the appropriate competen¢e, capabilities and S.11$ to identify or reco9nise non-compliance wth applicable laws and regulations", we identified the laws and re9ulalions applicable to the tharty through discussions wlh trustees and other management, and from OUT knoedge and expeiience of the tharrty sector.. we focused on specific laws antl regulatsons which we considere(J may have a direct material effect on the financial slalements or the opefalions ol the charity. Induding the Companies Act 2006. Charities Act 2011. tsxatson legislation and data protection, employment and health and safety legislaty"on,' we assessed the extent of compliance wlh the laws and Tegulations identified above through making enquirie5 of management and inspects'ng legal correspondence." and identified laws and regulatsons were communicated thin the audrt team regularly and the team remained alert lo instances of non-complianGe throughout the audit. We assessed the susceptibilty of the charity's financial ststements to material misstslement, Including obtaining an understanding ol how fraud rnight occur. by.. making enquines ol management as to where they consdered there was susceptsbility to fraud. their knoedge of actual. suspected and alleged fraud.. and considering the internal contrds in place to miti9ate risks of fraud and non-compliance wrth laws and regulation5. To address the risk of fraud through management bias and override of controls. we". performed analylieal procedures lo idenlify any unusual or unexpected relabonships", lesled a sample of journal entries lo identsfy unusual Iransath"ons'. assessed whether judgements and assLbmpbons made In determining the accounting e5tsmales were indicative of potential bias. and investigated the rationale behind significant OT unusual transactions. In response to the nsk of iThegulanbes and nOn-coMlance th laws and regulatson5, we designed procedures Ich included. but were not limited lo". agreeing financial statement disclosures to underlying supporbng documentatson., reading the minutes of meeb'ngs of those charged goveman¢e'. enquiring of management as lo actual and potential IgatIon and claims; and revIen9 COrSponden¢e Trhith rdevant gulatOrS. There are inherent limitstions in our audit procedures descnbed al)ove. The more Temoved that laws and regulations are from financial transactions, the less Iikety rt Is that we would become aware ol non-compliance. Audiling standards also limit the audit proceduies required to identy.fy non-compliance wlh laws and regulations lo enquiry of the directors and other management and the inspectÈorE ol regulatory and legal corTesp¢y)dence. il any. Material misslalements that anse due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A lurther de5pts0n of our responsibilrties for the audit of the financial staternents is localed on the Financial Reporting Council's website at WVhY.Irc.org.uklauditorsresponsibilities. This description foms part of our auditorfs report.
THE SIR BERNARD & LADY SCHREIER FOUNDATION INDEPENDENT AUDITOR'S REPORT ICONTINUED) TO THE TRUSTEES OF THE SIR BERNARD & LADY SCHREIER FOUNDATION Other mattèrs The comparative figures are unaLtdrted. Use of our report This report Is maije solety lo the Chanty's Trustees, as a body. in accordance part 4 of the Chantses (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state lo the Charlty's Trustees those matters we are reqvired to state to them in an auditors. Teport and for no other purpose. To the ftjllest extent pemitted by law. we do not aecepl or assume responsibilrty lo anyone other than the Chanty and the Charity's Trustees as a tK)dy. for our audrt wort. for this report, or for the opinion5 we have formed. Qi,k IKLI LLP Blick Rothenberg Audit LLP Chartered Accountants Statutory Auditor 16 Great Queen Street Covent Garden WC2B SAH Dated.. IX Blick Rothenberg Audrt LLP 15 eligible for to act as an audf(or in tem)s of se¢tion 1212 of the Companie5 Act 2006.
THE SIR BERNARD & LADY SCHREIER FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrgstricted funds 2023 2022 Notos Income from: Legacies and donations Investrnenl income 129.650.00 120.906.62 127.100.00 104,095.31 Totsl 250.556.62 231,195.31 Eypgnditure Raising funds Charitable activities (11.452.99} (150.343.861 110,679.181 1120.824.58} Total (161,796.851 (131,503.761 Net income 88,759.77 99.691.55 Net gains I Ilosses} on revaluab.on of investments 225,093.61 (403.540.041 Net movement in funds 313,653.38 (303.848.491 Fund balances brought foThArd 4.242,901.14 4,546.749.63 Fund balan¢es G•rri8d forward 4.556,7S4.52 4.242,901.14 The notes on pages 1110 18 fLYm part of these finanaal statemenls. statement of rec¢gnised gains and losses The statement of financial athves includes all gains and losses recognised In the year. Operating activities All of the activitie5 of the Charity are ¢lassffied a5 Wrtbnuing.
THE SIR BERNARD & LADY SCHREIER FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes Flxod assets Investments 3.964 660.57 3,751.094.88 Cuffent as5•ts Debtors Cash at bank and in hand 25.930.00 584,175.25 27.100.00 488.206.26 610,105.25 515.306.26 Creditors: amounts falling due withln one year 10 (18.011.301 123,500.001 Nel current assets 592.093.95 491,806.26 Total assets les$ current liabilities 4.556.754.52 4,242.901.14 Income funds Unreslri¢led funds 11&12 4,556.754.52 4,242,901.14 4.556.754.52 4.242.901.14 The financial statements vRre approved by the TNstees M ..... . . . ris Gibboi Trustee The notes on pages 11 to 18 I( part of these finanual StatenIS. 10-
THE SIR BERNARD & LADY SCHREIER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR FROM 1 JANUARY 2023 TO 31 DECEMBER 2023 Accountlng policies Charlty infonnation The Sir Bemard & Lady Schreier Foundab"on is a charitable incorporated organisation. Its principal place of busines5 is CP HoLsse, Otter5pooI Way, Wattord WD25 8JJ. 1.1 A¢counting convèntion The financial statements have been prepared in accordan¢e wrth the Charity's constitution dated 2 January 2020. the Charities Act 2011 and -Accounting and Reporting by Charities". Stalemenl of Recommended Practtce applicable to chanbes prepanng their accounts bn accordance th the Finanaal Reporbng standard applicable in the UK and Republic of Ireland IFRS 1021 leffe¢b've 1 January 20191" The Chty is a Public Benefft Enbty as defined by FRS 102. The Charity has taken advanlage of the provisions in the SORP for charities apptying FRS 102 Update Bulletsn 1 nol lo prepare a Statement of Cash Flows. The finanaal statements have been prepared lo give a Irue and fair vievl and have departed from the Charitie5 IAGGounls and reports) Regulatsons 2008 only to the extent to provide a Inje and fair view. The departure has involved followng Accounting and Reporting by Chanties preparing their accounts in accordance with the Finanoal Repong Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 rather than the Accounting and Reporting by Charities Statement of Recommended Practice effective from 1 April 2015 vthich ha5 wn¢e been wthdrawn. The financial statements are prepared in sterling. )ICh is the functional currency of the Charity. 1.2 Golng concern The Charity Is not a functional Chanty hawng staff and overheads but makes grants and donations from its investment income. At the ty.me of approwng the financial statements, the Trustee5 have a rea50nable expectation that the Charity has adequate resource5 lo continue in operatsonal existence for the foreseeable fijlure. 1.3 Charitable lunds Unrestricted funds are available for use at Ihe discretion of the Trustee5 in furtherance of their tharitable objectives. 1A Inci)me Income is recognised vthen the Charty is entilled to rt after any perlormance condib.ons have been met. the amounts can be measured reliably. and rt is probaue that income will be received. Investrnent income is re¢ognised when receivable and the amount can be measured lIablY. Thi$ is normally when the investment managers are nottfied of the interest receivable by the bank5 or dividends are dedared and notsficatson has been received of the ¢Jividend due. Legacies and donations are recognised on receipt or otherwise If the Charty has been notrfied of an impending distribution. the amount is kno, and receipt is expected. If the amount is not known, tk legacy is treated as a contingent asset. 1.5 Expenditure Expenditure is ¢09niSed once there is a legal or con5trucD've obligatson lo make payment to a third paty, it is probable that setuement will be required and the amount ot the obligation can be measLJred reliably. All expenditure is accounted for on an accruals basis. All expenses induding govemance costs are allocated to applicale expendrture headings. Irrecoverable VAT is charged against Ihe expendrture heading for lch it was accwed. 11
THE SIR BERNARD & LADY SCHREIER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR FROM 1 JANUARY 2023 TO 31 DECEMBER 2023 Accounting polieies {Continuedl 1.6 Fixed asset inYstsnonts Inve5trnents are a lorm of basic finaniial instnjment and are instially recogni5ed at their transadion value and subsequently measured al their fair value as at the balance sheet date using the doyng quoted market price. The Statement of Financial Acts"vilies Indudes the net gains and losse5 arising on disposals during the year and fair value adjustments at Ihe year end. 1.7 Financial instruments Financial instruments are classified and accounted for. according lo the Substan of the contracttlal arrangement. as either financial assets. financlal Iiabililies or equity In5tTumenls. An equity instrument Is any contract that edenCeS a SIdUal interest In the assets of the Charity after deducts'ng all of ils liabilities. 1.8 Taxation The Sir Bernard & Lady Schreier Foundation is a regislered Charity and is not liable lo income or c3Pltal gains taxes on its present activrties lo the exlenl that the income and gains are applied foi charitable purposes. 1.9 D&btors Debtors are recognised al the settlement amount dLbe. 1.10 Liabilities Liabilities are recognised vkneie the Chafity has a Present obligabon resulbng from a past event that wll probably re5uII in the transfer of funds to a third party and the amount due to setue the ob11gatsc can be measured or Èstimated reliabty. Liabilitses a nomially recogni5ed al their settlement amount. Lega¢le$ and donations Unrnstrieted Unreslricled funds funds 2023 2022 Donations and g Gift aid 103.720.00 25,930.00 100,000.00 27.100.00 129,650.00 127,100.00 All (JOrati5 and grfts in both periods vftre received under grft aid from Trustees. 12-
THE SIR BERNARD & LADY SCHREIER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR FROM 1 JANUARY 2023 TO 31 DECEMBER 2023 Inv•stment Income Unrestricted Unre5tricled funds fund5 2023 2022 Income from listed investrnenls 8ank interest received 117.770 60 103,719.02 3,136.02 376.29 120,906.62 104.095.31 Raising funds Unrestricted Unrestricted funds funds 2023 2022 Inveslrnenl management fees 11.452.99 10,679.18 11.452.99 10,679.18 Charitable activitigs Analysis of charitabl• activitses Total 2023 Total 2022 Grants Govemance costs 15.1} 15.2) 141,457.00 8,886.86 109,000.00 11,824.58 150.343.86 120.824.58 13-
THE SIR BERNARD & LADY SCHREIER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR FROM 1 JANUARY 2023 TO 31 DECEMBER 2023 Charitable 8etlvltles (Continued) S.1 Grants payable Total 2023 Total 2022 Grants during the year comprise". 3H Fund Acacia ADAPT Ambulance Staff Charity Asthma and Allergy Foundation Arts & Minds Back on Track Manchester Beder Been There Bels Brucha BLESMA Blue Sky Trust Bndewell Gardens Cambfidge Acom Project Camp Mohawk Cancer Campaign in Suffolk Care for Carers Cherry Trees Children Ahead Clarity Counselling CMA Communty Nursery Crohn'5 and co1"S Relief Cruse BTeavement Care Daises Kids Club Dalai Lama cent for Compa5*0n The Empowemient Group Exodus Pfoject Ezer Leyoldos Ltd Freedom Project Wesl Cumbria Domestic Viclence Support Future Yo¥Jth Zone Grea00 Charity Gnef Encounter Gr¢ve Cottage Grow for Life Heart and Minds Hidden Treasure H.O.M.E at School Homestart Home to Work Ltd Into the Light 151ington Mind JeTrMsh Action for Mental Heallh Jewish Volunteering NelN4ork 2,000.00 1,500.00 2.500 00 2.500.00 1,200.00 2,000.00 1,000.00 3,000.00 2.000.00 2.000.00 2.000.00 2.000 00 1,000.00 2,000.00 1.000.00 3,000.00 2.000.00 3,000.00 1,000.00 2,000.00 2.000.00 3,000 00 2,000.00 1,000.00 2.000.00 2.500.00 1.500.00 2,000.00 3,000.00 1,600.00 3,000.00 2,000.00 1,500.00 1,000.00 2,000.00 1,000.00 2,000.00 2,500.00 3,000.00 1.000.00 1.500.00 2.000.00 2.000.00 2,000.00 2,500.00 2.000.00 Balance carried forward 50,300.00 40,000.00 14-
THE SIR BERNARD & LADY SCHREIER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR FROM 1 JANUARY 2023 TO 31 DECEMBER 2023 Charitsblo activities (Continued) 5.1 Grants payable l¢ontinuedl Total 2023 Totsl 2022 Balance brought forward Kids N Action Kids Space Kol Bonaich The Lateef Project Lennox Children Cancer Fund Linda TreMe Foundalion Look Good Feel Better Make Them Smile Martsneau Gafden5 MedEquip4Kids Mind Over Cancer Moira Anderson Foundatson Mofnentum Childrens Chanty MS Therapy Centre MYMY No 5 Young people North London Hill Club Oakleaf The Octopus Foundatson Open Door Charity Overcomin9 Multiple Sdews Pathways to Health Pleasance Poet51N Power2 Project Lity RAW Workshop Reaching Reael Resolve Now Road Victsms Trust Rocking Horse Rosehill Youth Theatre Rubicon Cares SAFA Safety Net SAIL SANE Sapphire Community Group Scottish Mountain Rescue Sew Injury Support Shawmind 50.300.00 2,000.00 2.500.00 2,000.00 2.000.00 40,000.00 1.000.00 3,000.00 1,000.00 2.000.00 1.000.00 3.000.00 2,000.00 2,500.00 3.000.00 1.500.00 3.000.00 2.000.00 2,000.00 2,000.00 2,000.00 2,000.00 3,000.00 1,000.00 2.500.00 2.500.00 2.000.00 3.000.00 3,000.00 2,000.00 2.500.00 3.159.00 2,500.00 2,000.00 1,000.00 1,000.00 3,000.00 3.000.00 2.000.00 3.000.00 2.500.00 2,000.00 2,000.00 2,000.00 2,000.00 Balance rried forward 103.459.00 81.000.00 15-
THE SIR BERNARD & LADY SCHREIER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUEO) FOR THE YEAR FROM 1 JANUARY 2023 TO 31 DECEMBER 2023 Charitsble actlvlties (Continued) Balance brought fow4rd Snowdon Trust Soundcastle Ltd Soundwell Spark In the Da Sparks of Hope Sportability Spread a Smile Slep by Step Stonebndge City Farm Success Club Sunbeams London Ltd Switch 180 Teapot Tnjst Teen EnteTpnse Think Different rilehouse Counselling rime lo Change Wesl Cumbna Tough Enough to Care Up N Away Via Wings Washington Mind Westtvood 2015 Whirfow Hall Farni Winston'5 Wish The Wren Proie¢t You Raise Me Up Youth on the Move 103.459.00 3,000.00 2,000.00 3,000.00 1.000.00 1,000.00 1,000.00 81.000.00 2,000.00 2.500.00 2,000.00 2,498.00 2,000.00 2,500.00 2,500.00 1,500.00 2,500.00 5.000.00 2,000.00 2,000.00 2,000.00 2,000.00 3.000.00 3,000.00 2,000.00 2,000.00 3.000.00 2.000.00 2,000.00 2.000.00 3.000.00 141,457.00 109,000.00 5.2 Go¥emance costs The breakdown of support costs and how these are allocated btheen Govemance and Charitable Ath"Mties is Sho in the table below. Cost type Governance costs 2023 Charitable activities 2023 Total Total 2023 2022 Accountan¢y fee$ Audit fees Independent exrnainabon- pnor year Independent Examiners fees Admin fees 3.660.00 4.980 OD 60.00 3.660.00 4.980.00 60.00 8.760.00 1600.001 3,540.00 124.58 186.86 186.86 8,886.86 8.886.86 11,824.58 16-
THE SIR BERNARD & LADY SCHREIER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR FROM 1 JANUARY 2023 TO 31 DECEMBER 2023 Trustees and related party transactions During the year the Chafty received donations under grft aid totslling £103,720 12022. £100.0001 excluding tsx recoverable from a Twstee. None of the other Tnjstees received any remunerats'on of reimbursement of expenses in either this year or the previous year. Employe8S There were no employees during the year. Fixed as$¢t inveslments Listed investments 2023 Cash 2023 Totsl 2023 Total 2022 Market Value at l January 2023 Additions Disposals Cash movements Gainlllos51 on revaluation 3.751,094.88 7,376.73 3,758.471.61 3,372.690.83 799.064.29 (11,527.921 19.527.961 74.93 1215.51) 225,093.61 (403,540.041 (11.527.92) 74.93 225,093.61 Market Valuè at 31 Decembei 2023 3,964.660.57 7.451.66 3.972.112.23 3,758,471.61 Historical cost of invgstments at 310ocemb9r 2023 3.757.191.59 3.768,570.13 Investments held are analy5ed as follows: UK Overseas 2023 2023 Totsl 2023 Total 2022 Mutti asset fund 3.964,660.57 3,964,660.57 3.751,094.88 2022 3,751.094.88 3,751,094.88 Investments comprising 5% or of the total market value of investrnents are as follows.. Bardays Charity Fund- R distribution shares 100.00 Debtors.. amounts talllng withln one year 2023 2022 Gfft aid reelaimable 25.930.00 27.100.00 17-
THE SIR BERNARD & LADY SCHREIER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR FROM 1 JANUARY 2023 TO 31 DECEMBER 2023 10 Creditor5: amounts falling du• thIn one year 2023 2022 81ick Rothenberg Audit LLP- Audrt Blick Rothenberg Limited - Accounts Blick Rolhenberg Limited- Independent Examsnation Uncashed cheques Admin fee5 4.980.00 9,900.00 9,960.00 3,S40.00 10.000.00 3.000.00 131.30 18.011.30 23,500.00 11 Movement in fund5 Opening Incoming Resources Net gains I funds rn$OU$s exwnd•d Ilossesl on investments 2023 Closing funds 2023 2023 2023 2023 Unrestricted fijnds 4.142.901.14 250,556.62 {161.796.851 225.093.61 4.556.7S4.52 2022 2022 2022 2022 2022 Unrestricted funds 4.$46.749.63 231,195.31 1131,503.7611403,540.0414.242,901.14 12 Analysls of nel assets b¢trnen funds Unrestricted Unrestricted lunds funds 2023 2022 Fund balances at 31 December 2023 are represented by-. Investments Current assets Current liabilitses 3.964,660.57 3,7ot1,094.88 610.105.25 515.306.26 118.011 301 123.500.001 4.556,754.S2 4.242.901.14 18-