RECISTERED CHARITABLE INCORPORATED ORGANISATION NUl¥fRER: CEOJJ198 (Enelnd And Wles) REGISTERED CHARITY NUMBER: 1301670 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE PERIOD 23 JANUARY 2023 TO 30 APRIL 2024 FOR THE MANNY COHEN FOUNDATION John Crook & Pai*ners St¥iLttory auditrK$ 255 Green IAnes Palmers Grnen London N13 4XB
THE MANNY COHEN FOUNDATION CONTE14TS OF THX FINANCIAL STATEMENTS FOR THB PERIOD 23 JANUARY 2023 TO 30 APRIL 2024 Pige Report of¢h¢ Tr•stees I to 4 Report of the fnd¢pendenl Audi¢• Ststemont of Yin#tttl#l Attivitle$ Bal&BctSheet CA$h Flow Sta*•m•nt Notes to the C8$h Fltsw Stllththt Notes lo the Yirtin¢ial Statements 12 to 16
THE COHEN FOUNDATION REPORT OFTHE TRuEEs FOR THE PERIOD 23 JANUARY 2023 TO 30 APRIL 2(124 Th¢ ITt¢e9 pr¢t their report with th¢ financi statanentr of tht chortty for the PEriod 23 January2023 to 3Q April 2024. The trustses have adopt&J the provi5ion8 of Accountlng and Reporting by ch2iiLlÈ$'. Ststemeni of Recommended Pra¢tiee opplicablè to chariiies preparing their accounts in accordance wlth the FinanciAI Re)rting St#nd2td 8ppli¢Able in the UK and Republic of Ireland IFRS 102) (effectiv¢ I lanuary 2019). INTrODurIoN REGISTRATION The chayitsble inCOTporat¢d organisation reRis¢¢rwJ 23 J4nuaTy 2023. OBJEcfIvvs AND AcrJvtTIES Objt¢tiveg and aims Durin8 thi8 8ccoui)ting period tho purpose of the foundation as set ovt by the Constition is thE 8ppIiL7tion of th¢ incom¢ and propèrry of th¢ foundatioii through the p8wn¢nt foi. su¢h purposos which ore charitable according]y to the law of Bn814nd & W81es a5 the tnthes see tlt by the provisions of grants to chvlti8s ragi5tered in England & 7Nalo5. Dui'irtg the Jccountin8 p10d th¢ foundalion filvthered its charitsble purposes for the public ben¢fitthrough tho award of grants and donAtithts to Gharitie& registe in Eo8land and Wale& The trustees rnBolved.. la) That one half of its inroTho be alk)kd Jewish charitie8 and the otlier half ts) noTrJ¢wish ohArities. (b) That variou¥ CTitEri& were &5tablished in¢ludin& but not Ilmityj to, lh¢ rel¢ of suffering In a56&1tan¢e to th¢xe suffering from ¢an¢¢r and Children. Ic) That any inwm¥ not expended during this tsr w)y hJtur¢ accountiiig perithj would be cllrried foTw8nl and made availabl¢ duriM8 the next aw)untiDg p¢rKkl. Signifieaffit 8ttiYities During the accounting period the found10 ]nade wt payments totalling £321300. The 8rant level w3s approved by the trustees based on rrent in¢tsmr in otd6r nor to deplotr L¥Ptl Tttervcs. In prarti¢¢ not all of t11¢ income wa expended and the exptnded inwme LS behng earried forward to the noxt accounting period. GThntmaklng Grants ar¢ *w8rded after the submbslon of 4)pli¢ations to th¢ ILYJSt. Appllcativn5 are ass¢wd to see if they fall WTthin the chariws obJ¢v£S aAd tbetrusteu [J¢W applications which mettheir wuiremcnts in ternis of the ben¢fit given. STRATEGIC REPORT Athièvtmont and p•rf•rmAII¢• FulldJTlslnE SCtlvltl¢s 1lie Manny Cohen foundation Is not TecDgnis¢d with the Furtdrnising Regulator and the dwrity hos not carried out arty typ¢ offulldraisiiig aetiviti¢5. Inve8ttMettt perfomAllte The constitu¢ion E4iithori8È8 th6 to mak¢ and l)old investments uslts8 the general fund8 of the foundation. Tho trust¢es havo the powerto irJv¢st ID any way that thvy see f It 15 Iho polioy of the trustees to hold wlain propety inv¢th¢ilts and al¥0 investh)ent holdings through a portfolio of equity, gov¢rnment sto¢ks &nd txusts mana8¢d by 4 Nogni8ed inves(ment manasei. During th¢ acwuntiDs period the ¢haiity b¢cHrn¢ the owner of four propèrti¢s. Two of th¢ prop6rti&q are being retained a$ inveStm¢n. On¢ lias subsequently been sold with the aale proGeeds being invested and the fourtli i8 l'rentlY the 5ubjKt of a disputo the intcTrtivn being th8L it will be Sold wh¢n thc di5PUt¢ 1$ I'esolva and tlie net proceeds of saje will then be iiivostsd. Th¢ porLfelio consists of medium risk investments with the objoctive of ad)l&vln8 eapltsl til over tlie medium08 t¢rni •ud inmm At the ond of the year th¢ pn)perty inve5trnEnt$ were Yalued At £10,19Q,000 and th¢ portfolÈo togsther with eash at the bonk was at £3.054,653.
THE tYJANNY COHEN FOUNDATfoN REPORT OF TIIE TRUSTEES FOR THE PERIOD 33 JANUARY 2023 TO 30 APRIL2ftr24 F]nanelAI revlew R¢5¢rYe5 policy At the balance sheet datr the foundation hed retsind unreitrict&l funds including property Inveknients totalting £12.744,607. PriR¢ipal ri$k8 nd wnvrt8lntiei Th¢ trwsttos havt a risk man88emEnt strategy whith ¢onwrw' -A peTiodic Tevirw of th¢ risks the charity may face. - The ethbltshment of syst¢ms and protedurel to mitigaté those risks Identif in the review" - 1Mpkmenti0n of prorAdures d]ned to miThimi$e any potential impacE on the charity should ihose rL%ks NLatrriabse. The trustees consider V]db]ILlY of investhnI returns to constitute the charity's rn8ior fm8n¢ial risk. This is mitigated by investlll8 tti speciali3ed charity fvnd5 and having a div¢Tsifi¢d investment portFolio. Any operational Tisk from inefftrtlV¢ grlt awards is mitt8atrAF by the tEUStets paying close alleniion to the public bentfrt to be derived from their filndlng ofppltcotion. Futhre pln$ The tru5tEES envisage that the charity will ¢ontinu¢ to operatc on thE same b1$ &s this aecounting wiod save that from the 24 June 2024 onwards the objects have been 3mended s¢ that paymènt was to be made for such purposos whid) are charitable a¢cordirtg to the law of England & Wa1¢5 a5 th¢ tne28 See fit, by th¢ proylsions of grnnts to individual4 ¢haritsbl¢ institutitsns or othu organisattons woting to furrher 8u¢h purpo8¢5. The Gharity will cOne to getLer4 InlMont retur08 in ord¢r to generate fjnds for dt$tribution &4 8rJDt award$, STRUCTURE GOVERNANCE AND MANAGEMINT Covernlng do¢um¢nt The foundation is ¢ontroll¢d by its goY¢rning docum¢nl a deed of trusl wnstltsrtes a charitsb]E incofpoT8ted orgoni5ation a5 defined by th¢ Chariti¢s A¢t2011. Th¢organisation is aeharit&ble foundatson w¢ab]I8h on 29November2022 and re8ithredwith the ThaTityCommi8sion n 23 January 2023. The organ>sation 15 a chpritabl¢ incorporatyd organssation whose only voting tnembErs ore its haTity trU8tses and i$ govern by its constitution which 5¢ts Out th¢ ¢)bj¢¢ts aNd pfrweTS of the ¢h¥rity ond 8ov¢rn$ the action of ihe ttustees. R¢ernitm¢nt and LptKJiJitmw)t of neY4 trustees The Constitution permits th¢ board of trustt<% woint trSt1&S as tt considers frt ¢Jo 80. RUCTURE, GOVERNANCE AND MANAGEMENT OyilltionSl $lru¢ture Durin8 thi5 0cwunting period tho board Of ttu$tees ¢ompTisr three memlJ¢rs who Are In Conttwith ¢ach her Whenever newsary to review the affairs of the charity. All decisions reJatiTr8 to fingth¢ial strategy and polScy are mad¢ by the board of tyusr¢e& 8Thd Ir•lulng ofnew trust Ihe tru maintain a good workin8 k)W[edge Df chai'ity law and best practÈce. Page 2
THE MANNY COHEN FOUNDATION REPORT OF THE TRusfEES FOR THE PERIOD 23 JANUARY 2023 TO 30 APRIL 2024 REFERENCE AND ADMINISTRaTJvg DETAILS Regliter Ch•riiy thber 1201670 RegJsttr¢d 4ddrog5 P¢t¢r Brown & Co. Soltcttors LLP Ground & First Floors Comrr HousB. 1 g Station Road, Now Bame¢ Herts EN5 IQJ Tnute¢$ M O Waller P S Br8hom F Hardin J A L Dner (>]trA 2911 Ill024} Audltors John Crook & Partne Stxtutory auditOTS 255 GN IAn¢s Pabners Green Londc N134XE Solieitsrs P*X¢¥ Brown & Co. Solicitoys LLP Ground & First Floon Com¢r HLWSC. 19 Sl0n Road. New BarDet, Herts ENS IQJ Inv4Stmont Advlsers CCLA Fund Manaws Limi1 On¢ Ange] Lane Londcl) BC4R 3AB Bllnker¥ Hand¢lsbank¢n ENrId BrAnch" 2nf FIN)r (East Suite). Ni¢ho]a8 House River FronL Ei)fl¢ld EN3 3TF STATEMKfu OF TRUmE& REspof481BILITIES Th¢ 81¢e5 are responsible for pr¢parin8 the Report of the TnJJt¢¢s and th¢ financial ststEm¢n(s in accoTdonc• with ry>plir#ble law and Uttited Kin8dom A¢¢ounting Standards (Unita Kingdom Genaralty Aepted Accouttting Pradicr). ity law r¢qulr¢s th¢ trustKs to pre% finaneial ststqn¢nts for eAch financial yearwliich give a true and fair viowof the stth of atTair5 of the foundation and of th¢ incoing re8ouTces attd applicAtlon of resources, including the income wjd expendlttht. of the foundation for that pÈriod. In pparIng thoye finoNcial 8tat¢menty tho trustees are ryuir¢d to soltset suitable accounting policies 2nd then Hpply them wDsist2nty; obs¢rv¢ the mdhod5 and principle¥ iT] the Charity SORP. mak¢ judgements Bnd estimatEs th¥ are reasonable and prudEnL slaty wh¢tha' appliLxbl¢ accwnting stirtdonls have b¢¢n followed, subje¢t to wny mtitEriul departiwes disclosed and xplained In the financial stat¢mcnts" pr¢pAre the ffftancial afttsments on the going concern bpsi8 unlg&s it is inapprowiate to presum¢ that th# ¢1.1(able iiiw'por8t0d 0FgartlSi0n will continue in business. Page 3
THE MA14NY COHEN FOUNDATION REPORT OF THE TRusfEES FOR THE PERIOD 23 JANUARY 2023 TO 3Q APRIL2024 srATEM£NT OF TRUSTE RESPONSIBJLITIFS- comtinuod The trustee5 are Iwponsiblt for ke¢ping proper Bccounting re¢ord8 which diaclose with reasonable aceurary at any tim¢ finoncl&l Position of tlie charitable InCoOrted orgHntsationand to emabl¢ them to e[Lrethat the financial Statements compjy wtth ihe CharS1los Act 201 l. They are also r¢sponsiblc for 5Af¢8uarding the assets of the foundation and henc¢ for tskinm T¢¥¥onable steps for the preveAtion and d¢t¢ction of frDud &nd other irre8uliritl6 In so far as the trustees ar¢ nware: th¢r¢ is no rp.levant Rudit infi)matlon of whi¢h th¢ foundation's auditor5 ar¢ unawar¢,' and mlb%e¢5 hav¢ trken all st¢P5 that they Ou1 to h&v¢ takeD to mpke theTnsclvrS awarc of any r¢l¢¥¥Jt aud1¢ Infomation and to establish that the auditors are aware of tliat infom)ation. AUDITORS The wditors J(thn Crook & PArln¢rs, will bè proposgj for re-4ppoin¢m#ii. R¢port of ihe trustees. IncoryJorntin8 a itrate8ie r40¢ approved by DrdcT of the btsanl of trugttL* on 26 February 2025 aDd sign&J on the bLMrd% behalf by: M G Waller. stee Pag¢4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE MANNY COHEN FOUNDtiTION Opinlon We have 8udit£d th¢ fmancial statsments of The M8nny Coh¢n Foundation (the 'foundation') for the period ended 30 April 2024 which wmpi'i5e the Statern¢nt of Finan¢i41 A¢iivili¢& the Balan¢¢ Slie¢( the Cash Flow Sthtement and notes to the fi1oD¢ial statement& including a 8mmY ef signifirAnt a¢couniing poli¢i¢s, Th¢ financi r¢portlng fi'amework ¢liatha5 been llpplied in their prep&'ation is applicabl¢ law UnitEd Kingdom Ac¢DuntingStandards (United Kirk8dom Qen•ralty Accepted A¢¢ountin8 Pract). In our OPiTJion the fLnarJcial statemontL gtve a Irue and fair view of the sta¢¢ of th¢ ¢harttsbl¢ ii]corporat¢d organi5ation'8 affatrs as at 30 ArKil 2024 and of its illcoming Yesources and 8pplie4tion of r8source$, inGludins its iThcorne and expenditurc, for th¢ pu'iod then end. havo be¢n propBrly prered in acwrdance with United Kingdom Gen¢rnlly A¢¢¢pted Accounting PJ8¢ti¢¢,' and havo bwi pr¢pwEd in accoith)ce with th¢ Tequir¢mefits of rh¢ Charities Aot 2011. Basjs tor opknlo We toiiduct¢d oui. audii in aeLordanee wi(h Int8mational Stanilards om Auditlnx (UK) IISAS (UK)) and applirAbl¢ law. Our re8pon8ibillti under tht)se $tandBrds are fvrther desGribed irt the Auditors, r¢spon5ibilitle8 for th¢ alit of the finthcial st8t¢rn¢nts section of our reyort. We #Te indep¢nd¢nt of the charitsble ineorporated organis1011, ii) occordance with the ethical Iwuirem¢nts diat aTe MIevt ro our audit of th¢ finon¢iai stst¢m¢nts in the UK. includin8 the FRC Bthical Stsndrf and we havo fijifilhd our otheT ethiGal r¢8pon5ibilili¢6 in a¢¢ordanc¢ with th&se requirements. W¢ b¢li¢v¢ that the audit evidence we have obt8in¢d 18 sufficient and Hppropiiats to provide a ba$i$ fi)r our opinion. CO1¥5105 relafjnE trfj golng £oncern In auditing ihe financial stathent& w¢ h8v¢ ¢Oluded that th¢ ttyJ8te¢s' use of the goin8 concern basi8 of a¢¢ouniing in the prei)aration of ¢hE financial statements is 8ppropri8te. Based on the work we have performed. w¢ hav¢ nol identified 8ny m4teria] unL£rtaiDtie8 relnting ty evehts or eondltlons that. indivldually or colleLtiv¢ly. may Gast significant doubt on the eharitable iTKorporated organIli0n"S abi15ry to contitwe &4 a gtsijvg ¢on¢ern for a pwiod of at le&st twolve months from wh¢Th tho fu'la1 sE8toments or¢ wJthori8¢d for ue. Our tvsponsibilhles and th6 ¥esponslbilitie5 tsf the ttuste05 with respect th 8oin8 ncern are de¥¢rib¢d In the relevant 3ections of this report. Othèt illformatlon The trustees are T¢5ponsibl¢ for the other infi)rmation. The other infonnation comprlsu the infomation included in th¢ AnAu81 Repor4 oth¢r than the financial atat¢ments8nd our Report of the Indep¢ndMtAuditor5 thereon. Ouropinion on the financlal statEm¢nts does not coverthe other lf0MlatiOn and, ¢xNptlothe ¢xtentoth¢rwi5¢ expli¢itiy slated in our report, w¢ do not express any form of &vurance conclu5KliI th¢reon. In connection with our audit of the fmwieial stat¢ment& our re$pon9ibility to read the oth¢r Informatlon 8ftd. in dolt)g 80, consider whethu the other information i8 mateyialty inconsistent with the financid statenients or our knowledge obtslned in th¢ audit or othorwis¢ appears to be matwially misstat#l. If w¢ identify such maÉor141 inconsi5ten¢ios or ttppar¢nt material misstatements, we are r4uired to determine wheth¢r diis gives rise to a matsrlal rni8Stat¢mgnt ID the finAn¢ial stat¢m¢nts tl)ems¢lw. If, based on the WO we liave perfornid, w¢ ¢onclude that th¢r¢ is a mat¢rial miBStakm¢ni of thi8 other ioforniattory w¢ are r4Usred to r¢ptyt that fact. We h&ve nothin8 to report in this re8ard. Mitt¢r8 on whlth w¢ are r¢quir¢d to report by ¢x¢¢pilo We have nothing to report in ¥espect of the following matters whore the Charitiei (A¢¢ount8 and Repons) R¢gulotions 2008 wuires u5 to report to you if, in our opinx)n'. the iTrfonllatioTr giv] in th¢ R¢port of the Tru$t4e6 is incon$lsten¢ in any materlal r&8pxl With the ftn2n¢ial $t8tements; th¢ foundation has not kept 8d4uaée a¢nting recorth: or thts flnancial statcmthts are not in igreement with th¢a¢¢ourtths Reord$ and robJrn6' or we have not receiv 411 the Information and explatIonS w¢ reqwlro for our audlr. Page 5
REPORT OF THE INDEPENDENT AVDITORS TO THE TKUSTEES OF THE MANNY COHRN FOUIYDATION Re4)on$tlItle5 of truyt¢ As explained more fully th¢ Strternent of Trusts05' Rosponsibiliti¢4 the trustres are responsible for the prepèTion of tho financial ststements and for bein8 5atl5figd tha¢ hoy give YA bve and fair view, attd for sueh itiÉernal control as th¢ tru5tee5 det¢imin¢ is necessary tts enablt the weparntion of finantial &tatements that are free fmm material misstat¢meft¢ wheth¢rdu¢ to fraud or mr. In proparing th8 financial stlltEments. the InteeS ar¢ responsii)le for u8e58ing the ch8Titabte illCOTPDT4tEII orwiisation's ability to ¢olltinu¢ as a going ¢on¢¢m, disclosin8. applicable, m4lt¢rs r¢Jated to Bolng concern and using th¢ 80ing concern basis of accounting unless th¢ trustees ¢ith¢r intend to liquidate the cknaritable in¢orpo]ed organis8tion iy cease orKrntions. or havo no r¢81i8tic alternative but to do so. Our rnsptsnsfibllltles for the Audtt ofthe rttemeots W? have been appointed as auditors under Se¢tion 144 of the Chrtlies Act 2011 and report in accord8nce with the Act and relevant rc8ulations m&de or having effect tl)¢r¢widcr. Our obi¢ctiv¢s to obtahn reasonableassurance aboutwheth¢rth¢ finoncial statements as a whole arefres from material rnisstatan¢nL whethor due to fiaud or error, and to issue a Report of the IndependentAudicors that includes our opiion. Reasotwbk as5uran¢¢ is 8 hish lev81 of assur. is not¥ gvarant¢e that th audit ¢ondu¢ted in accordance with ISAS (UK) will alway5 detcrt a mtti&l miss¢gt2ment when it exists. Mis5tateTnent6 ian aTi5e fiDm fraud or CTror aTJd arr nsid¢rEd material if. individually or in the 288rGgate, they eould reasonably be expected to influenc¢ th¢ economi déti8iOtis of us¢r8 tsken OD the basis of these tlnoncial statoments. We ¢nquiTed of manogoment, and board of trust• whith irKluded obtaining and revi¢wirtE $ypp)thng d0MentIOn. conMIng tho policieB Nnd procedures Teiating to.. - Idtifying, ¢valuating and crmptying with laws and and whether they were aware of any inswices of norJ- (X)tnpliatice.' - Deterting artd re5pondiA8 to the risks of fraud and whetlw th¢y h&v¢ knowl¢d8¢ tsf hb)y ackn. suspected or alleged - The intEmal coThtrolsestablrshed to mitig&te ri5k5 rplated to rx non-compl¢£ wlth laws and regulations. We inspected the minfv of meeting5 of those char8ed with governance. We obtsinèd an understanding of th¢ leg41 •Thd re8ulatory fratnework thÉtthe ehtrity itt. focusin8 on lawg d regulations that had a material efftct on th¢ financiai thtennts orthÉt had a fundamental effecton the operations of the charity from our professional and gKtor specific We Communicat applicable laws and Te8Ut2tions, through[ th¢ audit tezm Temained alert trj any ind1¢atn$ of non¢omplk8Thr£ throughout the audit. We Yeviewed any reports made to regul4ts. We miewed the fulallcial 5t4t¢rn¢nL disclosu and t¢$t¢d these to Eupporting doCuMlIatIon to assess ¢omplt&nce with applicable laws and regulations. We performed anatyti¢al proLur8sto idontifyanyunusual or unKpe¢t¢drelAtkM8hips thatmay indicate risks of tn•krial mis$tBmeDt duo to fraud. The extertt io which our r£dUr are capabl¢ o(detectin8 irrn8ularilies, including fraud Is dthail below.. In addSsIn8th6 risk of frhud throuth m8n88eTrentOY¢rridcof Controls, we tested the approprriateness ofjoumaL8 entries and 0thlradjustsnts. a58essed wlLetherthe judgements made In m8kin8 IOI1ntIng estlthates artr indicative of apotentisl bl&$ and teBted Signifint rransA¢tions th2t are unu8ua] or those outside the morn1 ¢rwr8¢ of buslnem. Becaus¢ of th¢ inherenr limiwions of an aydil th¢re is a risk that w$ will not d¢i¢ci all irr¢gularities. in¢ludin8 those leadin8 lo a ma*rial misstatemEnt in th¢ financial smtements or nOOmPlin¢t with r¢8ul4tion. This risk irase% the more that compliance with t law ¢x re8ul¥tion is Ternoved from ihe evenrs and trAntin5 reflected in the financial Sf&r¢menw as we will be less IEkely to becorn¢ aware of instsnces of non4omplianc¢. The rL%k 1$ 4180 gm¢er r¢8•rding irre8ularities occurring due tts fraud rath¢r ihan ¢rroi', as frAud irbvolves intention7 ¢on¢¢alment, forgery. ¢ollusiO omissiw or m5sreprasentttion. A fvrther ducription of ourrt8ponsibilitits for the auditof die finan81 statements is located on theFinanci31 R¢porniD8. CoLllh¢iV$websit¢ 9¢ wivw.frc.org.uklLuditorsrespon5ibilirt¢s. Thisdegcription fttrms pArtofour R¢portofth¢lndependeni A]lor%. Pa8¢ 6
RIIPORT OF THE IP4DEPENDENT AUDITORS TO THE TRusfEES OF THE MANNY COHEN )uNDATIoN Use Of our rert Thi5 report i5 made solely the foundation'5 trustee& as a body In w¢Ord•h with Pait 4 of the Charftles (Accourtts and K4rts) Regulation$ 2008. Oui. wdit work lias been undertaken so that we ml8hi state t<> the dioritAble incorporated organisationl trustees those matters we are required to state lo them in an auditors, repgrt and for no other purpos¢. To the fullest extent p¢rnittfyl by law. we do not accept or assume responsibility to anyone ollier than the charirable incorporated tsrganisation and the charitabla incorpotated organisation tru8ts¢8 as a body* ftjr our audit work, fer this report. or for the opinion5 w¢ have formed. John Crook & ParTh)ers statOry audtt Eligible to a¢t a5 an ayditor in t¢mis oFSe¢tion 134 of thecharttias Act 2011 25.5 Gre¢n Lane5 P4lm¢r5 GfBBTh Loiidon N134XB Dth.. 26 Fd)n]ary 2025 Page 7
THE MANNY COHEN FOiINDATION STATEMEP4T OF FIIYAPICIALACTIVITIES FOR THE PERIOD 23 JANUARY 2023 TO 30 APRIL 2Q24 Unrestricted funds INCOME FROM Don101)5 and lewies 12.537.702 InvestmMt in¢ome 497 343 Totil 13.035 045 LXPENDITURE ON Raising funds 64.937 Charftgble scrfvltlo Gen1 unrestricted 322.068 Oth¢ TotAI 392,051 Net goin8 on iwestrnonts 101613 NET INCOME 12.744.607 TOTAL FUNDS CARRIED FORWARD 12 744607 The notes fom part of Ilie5e financilll statsTller Page 8
THE MANNY COHEN FOUNDATION BALANCE SHEET 30 APRIL2024 Unres(ri¢t runds FIXED ASSETS Tangible a55¢ts IDVUtments investments Investment property 10 354 1,851,613 10.190,000 12 11041,967 CUIiRENT ASSETS Ca511 at bank 1.203.040 CREDITORS AnK)unts falling tluc within one y¢ar 13 (70.400) NET CURRENT ASSETS 1.131640 IX)TAL ASSETS LLSS CURREKr LIABILITILS 13,174.607 PROVISIONS FOR LIABILITIES 14 (430,NJO) NET ASSETS 12744607 VUNDS unrestri¢t funds 15 IL744 607 T(yfAL FUNDS Thg finalA1 8t*ements were 8pproved by the Bourd of Hnd authori8ed for i&suo on 26 F¢bnwy 21125ond wer Eigncd on its Uthaif by: M G W&ller- This¢e¢ Th¢ not¢9 fomi part of these financial 8tytem¢nt8 P¢9
THE MAPINY COHEN FOUNDATION CASH FU)W STAI'EMENT FOR THE PERIOD 23 JANUARY 2023 TO 30 APRIL2024 Notes sh flowg from opernting 8tttviti Cash generated from eperations 2.882.896 N0t¢ash pr()vlded by opeTrting aEtivili¢s 2.882.896 Ch flows from illTKe¥tlng aetsvitieJ Pur¢h83¢ of tanyble fixed ASS¢ts Pllrchese of fixed asset investm¢nlS Inlervst Itceived Divhdends Teceived (425) (1.750,0) 38,022 32,547 Net cash (used inypwvideAI by investing xtiyititsg 1679 856 Cknnge aThd ¢45b equIleThts In the TeportiTrg period Cash and eqllivalent8 al the beElnfjing of the r¢portlThg trIOd 1303.040 C•sh 81 tgsh ¢quiY41ÈDt$ at th¢ of thè report1¥ ptr40d The notes forn) part of these financial statsm¢nts Page 10
THE MANNY COHEN FOUNDATION NOTESTO THE CASH FLOW STATFMF.Kr FOR THE PERIOD 23 JANUARY 2023 TO 30 APRIL 2024 RECONCILIATION OF NET INCOME TO T CASH FLOW FROM OPERATING ACTIVITIES NÈt lttcome (or th¢ rEportlAg peTI(rtl (As per thc Stlltemertt OT Ifin•n¢tal A¢tlvltt¢s) Adjust)nents for. Assets )nad to charity Deprsiation charges Galns on investments Intsr¢st rgc4iv¢d Dividends recelvl Provi8ioJi 1ftcrea in ¢r&lito 12,744.607 {10,190,00) 71 (101.613) (38.022) 132J47) 430.000 N¢t provlded by op¢ratiolls 2 882 896 ANALYSIS OF CHANGL8 IN NET FUNDS At23.1.23 Cash flow At30.4.24 Net ¢*sh Cash at bank 03.04 1203.Q40 1.203,040 03,040 Tot¥1 The noi¥s form pwt of financial stat¢m¢nt8 8¢11
ThE MANf4Y COAEN FOUNDATION N(YTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 23 JANUARY 20Z3 TO 3() APRIL 2024 AccoupfnNG POLICIES B#JAs ofpt¢pArittg th¢ fiH•thti81 statethents The financi81 st&rements ofthe foundation. which is a publi¢ beneflt tity under FRS 102. have pr¢porod in ¥ccordarEce with thc Cliwiti¢s SORP (FRS 102) 'Accounling and Reportlng by Charlties: Ststement of RecommeThJed Practiceapplicable lo¢lrItieS preparingth¢ira¢counts tn aceordancewith the Financial Reporting Standard applicabl¢ in the IJK and Republic of Ircland (FRS 102) (¢ffxtiv¢ l JBnu8ry 20191,, Financial RertIn8 Stondard 102'The Financial R¢portiAg Standard appli¢)ble in thc UK and Regubli¢ of Ir¢land 8Thd the Chariti&8 Act 2011. The financial ststernBnt5 hav¢ been prnpared und¢rthB hlstorical cost cor]vention, with theex¢eption of An$llents which ore included a¢ rnarket a5 mOdifd by th¢ r•valuarioTr of ttTt4in a58¢t& All income is regld in the Slment of FinanGiai Activitie% once the charty has entttkm¢ntts the fund& li 15 probllble thai the income will be rff¢ived and the amount con be rneasured reliably. xpendltNr¢ Lthbilities gr¢ r¢cognis¢d as expetbdikne as soon as there is a legal or constructry¢ obligation cornmitiill8 th¢ ch2rÈty to that ¢xpendIre. it is probable that a trznsfer of e£onomi¢ b&Kfits will be required in settlement and th¢ amount of the obli8ation ¢an be measuTed reliably. Expetmliture is Rccourtkd for on #m acen]als basis and has been ¢lassified und¢r he2dtngs thht aggr¢gat¢ all st related to the cate80ry. Where coas caftnot be directly atsributed to Particul he4duigs they have been allocated to activities on * bosi$ ry)nsk8l¢nt with th6 use of r#our¢ Grants offercd subject to c¢)ndirions which hay¢ r1 b¢¢n met at the Y-¢Thd dat¢ not1 as a mMItTneRt b not fis ¢xp¢nditut Tsnglble tlxeo assets Deprttiation is provÉded Bt the folkwin$ ann1 rates iii ord to write off each assetovtr its lIad us•ful lif Computsr equipment 25% on r&ucing balan Investrnent property Investment propety li shtswn at Thost recent valuation. Any a88Te8ale surplus or defirit orising change4 in fair value is recognised in the Ststement of Fimneitl Aetivitits. T8J4tlon The charty is exempt from corporation ttx on its chgrit4ble a¢t1Yltl. Fund Unrestrlcted fund$ can be #¢¢OTdan¢e with ihe ¢haritable obi¢ctive$ at thc dKIclOn of the truste¢5. R&%trieted funds Can onty b¢ used forparti¢ular r•strict¢d purposes withth the objecis ofthe chgrity. Resuiciion5 arise when spKified by the donor or when funds are raiscd fvr particular restrlcted purpose5. Further PlanatIOn of the nature and pyrpos¢ of fund is included in Ihe notes to fhe financi81 stAtements. DONATIONS Af4D LEGACIFS 12 537.702 Ir4vESTMENT IT4COME R¢nt5 r¢c¢ived Other fixed asset snvesttnents- Dividend$ DEPOSit Account interesr 426,774 32.547 497.343 8e12 eontinu¢d...
THE MANNY COHEN FOUNDA TION NOTES TO THE FINANCIALsfATEMENTS- continued FOR THE PERIOD 23 JANUARY 21J23 TO 30 APRIL 2024 RAISING FUNDS Iwvth¢nt management costs Prop•rty rwirs 8nd 811¢ ¢lernce CHARITABLE ACTIVITIES COSTS Gjant fundin8 of a¢ttviti¢S (ll0t¢ Support sts (see note 8) Totals .General unrestrlrted 321.300 768 322 068 GRANTS PAYABLE 321 The iotal grants p4id to insttlutiDns during th¢ period ¢an E¢ summart8eil fvIIow8: Childll and family Health EdULI0n ConflicÉ r8llef 62.31)0 19.000 150,000 321 SUPPORT COW Gov¢rnaiioe Fiiianc Torals Other resources exp¢nded GenoY81 restriCted {434) 768 5.4BO 768 334 NET INCOMFJ(ExpEiyfJiTURE) Net incomeJ(expenditure) 18 statEd afta. char8ingl(cr&Jiting): Audit, reimuneration Depreciation - Owll ets 5,400 71 TRUSTEESI REMUNERATION AND BENEFITS Thar We no t$t, rèmunerd¢ion or oth¢r b¢nefits for th¢ p¢riod endeAI 30 April 2024. Thewe were no trtsstee¢ ¢xpeN¥ paid ft¢r th¢ period end¢d 30 April 2024. Pw13 ¢ontinlled...
THE MANNY COHEN FOUNDATION NOTESTO THE FINAP4CIAL STATEMENIS- eoThtinlled FOR THE PERIOD 23 JANUARY 2023 TO 30 APRIL2O24 IQ. TANGIBLE FIXED ASSETS Cnmputsr equipment COST Additions 425 DEPRECIATION Charge for year 71 NET BOOK VALUE At 30 April 2024 354 FJXED A&SET INVESTMENTS Listed investments MARKET VALUE Addltlons R¢valuations 1.750.000 101.613 At 30 April 2024 851613 T BOOK VALUE At 30 April 2024 18SI 613 There were no invethent ossets outsidethe U cost valuation at 30 A11 20Z4 i8 rePented by.. investsnents Valuation ift 2024 101,613 1750 000 l B51613 12. INVESTMENT PROPERTY FAIR VALUE Addlti¢Jns lQ.190 (M)0 At 30 April 2024 NBT BOOK VALUE At 30 April 2024 lo.1000 13. CREDITORS: AMOUNT5 FALLING DUE WITFIIN ONE YEAR Accrual& and deferred incothlle Page 14
THE MANf4Y COHEN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- ¢0otinued FOR THE PERIOD 33 JANUARY 2023 TO 30 APRTL 2024 J4. PROVISIONS FOR LIABILITtES Prvvision$ 430,CXIO The foundation has received A propaty from the Estats of Emtnattuel Cohen whi¢h was valued at £1,700.000. howev¢r Ehe local council, Ha¢kn¢y l)as lodged clairlls against th¢ proputy whKh 8re estimffttsd at £430.OQO in respe¢t of wodi they undertook following a fir¢ at th¢ property. As indicated tn notp 16 the ¢8¢ima¢¢d liabilfti hav¢ been JYco8nised atKi afvy &dditl¢)nal liabilities wlll be undeLMritt¢n by the E5tat• of Emmdnu¢l Cohen. IS. MOVEMENT IN FUNDS Nat rnovement in fund5 Al 30.424 U#restritted fTJnd$ Genèral fund 269-271 Heckney Ro&d. CapStal Fund 165,856 454.436 12.124 15 165,856 454.436 12 124J15 12 744,607 11744 607 TVAL VUNDS 12 744 607 Net movement in funds, included in tl)¢ Jbovè are &$ follows: Inci)mlng rosourcos Gain8 and 1055e$ Mov¢m¢nt in fvnds ¢xp¢nded Unr¢$trl¢tsd funds Generdl fund 2fj9-271 Hackney Road. Capital Fund 512.343 500.000 12,022.702 (327.114) (64.937) 185229 435,063 12.124J15 101613 13.035.045 39 051 101.613 12 744.607 TOTAL FUNDS 13,035.043 392,031 101,613 Cxpltsl Fund This fund is th¢ gifts from th¢ lat¢ Emmanu¢l Cohen. hi5 companie3 and oth¢r m¢rnbET5 of thr families. Tho tru5t¢es do not iiit¢nd to diJtribut¢ th¢s¢ fvls th¢ foyesEesble fijture And intend to dists'¥hiite the incomè Barated by these assets. I617] HAckney Ror•d The foundation WAS gbfted thss piK)p¢ry. whtcli 1$ included In the e4pithl fvnd, but th*iw SDme liabrlltles suiiin8 from o fire, Tli¢ tt'ustees of the estate provided £51X),000 to Govffl any potential li8biliti¢5. This fvnd 18 to en5ur¢ that th¢ Wential liabilities are oUnted for. The donor hai provkled 8uar8nt2ey for any additstsnal ¢08rs Yelaib)n to this. Page 15 ¢ontinued.,.
THE MANNY COHEN FOUNDATION NOTES TO THE FtNANCIAL STATEMtKTS- ¢oMtinued FOR THE PERIOD 23 JANUARY 2023 TO 30 APRtL 2024 16. RELATED PARTY DISCLOSURKS During th¢ p¢riod underreview the Found8tion roceived thefollowin8 doThatKJ from rtiad wies: £10,705304 from Meserdor Property InvestNnts Limit¢d,a company thatw0Wned bythe lats FAnmanuel Coh¢n. Hrlrn Coh¢n and Edith Senett. The direclors ofthe compthy are also rrusteeÈ ofthe Troundation. This coniprised of £2.215 J64 in coth ond £8.490.000 in pryrti¢5. £2200,000, in eash &nd Properties. from the Etht¢ of Emmanu¢l Coh. Ineluded in the don81iom r¢c¢ived was a sum vf £500,IJ)O in respeet of potenÉi81 liabilities that rn¥4y ari5¢ in connectLOlJ With 269-271 Hackney lioad. The property wes v&lued by a fim of Chortered Surveyors as having a market value of £1.700.0. howeverth¢ donatrt h88 been volued ai £i.270.000 to rwnise the liobilitiesthat may #rise to third parties, Th¢ trustees of th¢ doJioT have und¢Jtsken to ftimburse any additwnal t¢)$ tha¢ may arjse. Tr tswstees of ih• Bsrar¢ are also th¢ trust#& of the FoLhRdat1J. £IO,QQO each frorn the estates of Bernard Cvhen d#¢ed and H¢lctt Beatrice Cohen deeesed and £27J37 from the estate of Edith S¢nett deLw¢d. These all dona¢ions from th¢ sibling5 of Emmanuel Coha) dwsed. The tn¢$ of the tttstes are ajso th¢ trus¢eos of the Foundatton. Pa8¢ 16