The Nathan Foundation (Registered Charity No. 1192735) Annual Report and Financial Statements st For the year ended 31 October 2023
The Nathan Foundation Annual Report for Year Ended 31 October 2023 st Trustees: Michael Nathan (Chairn]an) Daniel Nathan Philip Nathan Registered Office: 16 Cliveden place London SWIW 8LA Bankers: Natwest Bank 2 Sloane Gardens London SWIW 8DL The trustee's present their report with the financial statements of the Nathan Foundation st Charitable Incorporated Organisation ("the Foundation") for the year ended 31 October 2023 which comply with the Foundation's constitution and applicable law and accounting requirements. Constitution and Objects The Foundation was constituted as a CIO with the following objects: To advance such charitable purposes (according to the laws of England and Wales) as the trustees see fit from time to time in particular but not limited to advancing education for the public benefit by making grants and awards in particular but not limited to education establishments and students for academic research. Review of Activities This is the third year of the Foundation's existence. As indicated in the report for last year, the activities of the charity were impeded significantly following the unexpected death of its sole benefactor, Aharon Nathan (following a fall and less than satisfactory experience at A&E). Aside from curtailing the full funding of the charity, such time as would have been spent on the charity understandably had also to be devoted to the more pressing needs of dealing with the administration and taxation of his estate. So there was not as much progress during the year as we would have liked in establishing a framework for the granting of awards. That task, of course, is all the more difficult given the frankly overwhelming number of good causes that seem so worthy of support. That said a few candidates have preliminarily been identified and so we hope to be in a position to make our first awards in the very near future. In the meantime the funds have remained invested with Vanguard - with additional funds being invested more recently from the cash held at the Foundation's bank account at Natwest and a stream of income has started to flow. Here too the trustees feel it is important to have confidence that such streams of income are regular and sufficient to not only cover the level of awards set per year but also to ensure that the capital of the charity continues to grow in excess of inflation. something that is vital to enable the Foundation to survive in the charity space for many years to come.
Finally, as with the previous years, the Foundation sustained no costs this year in order to preserve its capital base. AII associated expenses were again paid for by the chairnian privately. There also remains no intention to seek any donations or contributions to the Foundation from the general public. Responsibilities of the Trustees The trustees are required to prepare financial statements that give a true and fair view of the Foundation's financial activities and position at the end of each financial year. They are required to manage the Foundation in accordance with its constitution and to maintain suitable accounting records in order to comply with the Charities Act 201 l. They are also responsible for safeguarding the assets of the Foundation. Michael Nathan (Chairman / Trustee)
The Nathan Foundation Statement of financial activities (incorporating an income and expenditure account) Page1of2 Year ended 31st October 2023 Notes 2,023 2,022 Income Donations Investment Income Investment valuation Increase / (Decrease) 400,000 6,077 -5,045 11,231 5,913 Total Income 17,144 401,032 Expenditure Charitable activities Expenses Total expenditure Net movement in funds for the year 17,144 401,032 Total funds brought forward 451,132 50,100 Total funds carried forward 468,275 451,132 The notes on page 2 form an integral part of these financial statements
The Nathan Foundation Balance Sheet Page2of2 As at 31st October 2023 Notes 2,023 2,023 2,022 Fixed assets Current assets Debtors Listed investments Cash at bank 300,867 167,408 294,955 156,177 Creditors: amounts falling due within one year Net current assets 468,275 451,132 Net assets 468,275 451,132 Funds of the Foundation General Funds 468,275 50,100 The accounts have been prepapred in accordance with section 132 of the Charities Act 2011 Notes: 1. Investments held in funds at Vanguard Investments UK Ltd. 2. Cash held in Foundation's bank account at Natwest Approved by the trustees on Michael Nathan (Chairman)