REGISTERED CHAIUTABLE If4CORPORATED ORGANISATIOIY NUMBER.. CE031198 {Eiigl*nd and WAles} REGISTERED CHARITY NUMBER: 1201670 REPORT OF THE TRUSTEES AND FIf4ANCIAL STA TEMENfS FOR THE YEAR ENDED 30 APRIL 21125 FOR THE MANNY COHEN FOUNDATION John Crook & Partners StaMtory aiiditors 255 Green Lanes Palrner5 Green London N134XE
THE MANNY COHEN FOUNDATION CONTENTS OF THE FI.NA.NCIAL STATEMENTS FOR THE YEAR ENDED30 APRIL 2025 PaEe Report of the TTUStee5 Report of the Independellt Auditors S to 7 StAtement of Financial AetiYi¢ies Balanee Sheet Cash Flow Statement io Notes to the Cash Flow Stateme¢ Notes to the Financial Sta(ements 12 to 18
THE MANNY COHEN FOUNDA TION REPORT OF THE TRL'STF.LS FOR THE YEAR E.YDED 30APRIL 2025 Th¢ trusle¢s present their report with the financial Sla]nenIS of the charity for the year ended 30 April 2025. The trustees have adopted the provisions of Accounting and Reporting by ChaTities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance ivith ihe Financial Rw)rting Standard applicable in th¢ UK aiid Republic of Ireland (FRS 102) (effective l January 2019). INTRODucfIoN ORIECTIVES AND ACTIVITIES Objectives and alms At the comnienceineni this accouniing period ihe purpose of ihe tru51 as set out by the Constitution was the application of Ilie income and property of the trust through the payment for such purwses which are charitable accordingly lo the law of Enbiland & Wales as the Irustees see fit by the provisions of grw]ts to Charities registered in England & Wales aiid afier the 26 June ?024 by the proyision of grdn15 to individual& charitable institutions ond otherorganisations working to fi]rther Ihe same piirp05es. During the accounting period the trust furthered its charitable purposes for the public benefit through the aivard of grants and donations nd folloiving a Resolution daied 26 June 2024 b}. the PTovision of graJ)ts to individuals, charitable in5titut10115 and other organisations working to FurtherpurscS which are charitable according to the law of England and Wales The trLlStee5 resolved.. (a) That its intention was to distribute one half of its nei income to Jewish individuals. charitable institutions and orher organisaltolls for the r)seS of benefitting Jewish people and the other Iidf to non-Jewish individuals, charrfAble institutions and other trrganisations for purposes benefitting non-Jewish p¢ople. (b) That various crireria were established includin& but not limited to. the Tele85¢ of suffering in Ukraine. assisiance 10 those persons suffering from cancer and children. (c) That any income not expended durtng this or any flllle accounting 1[1 would be carl1 forward and made available during the next accounting period. Signifjcant aetivltits DurinLT the accoui)ting period the chariry made grants payments ioialling £563246. The grdnt level wa5 approved by t]ie trustees based on cutTent income in order not io depleie capithl reserves. In prActiee not all of of the income was expended and the unexpanded income is being cattted fotward lo the next accounting rkriod. Grantinaking Grants air 2warded after the submission of applicaiions io ihe irnsi. Applications are assessed lo see if they fall within the charity's objectives 2nd the trustees revieiv applicalions which met their requittments in terms of the benefit given. STRA TF.CIC REPORT Aehievement8 and perforinance Fundraising activitits Tlie Manny Cohen Foiuidation is not r¢¢ognised wilh (he Funthaising Regulator and the charity ha5 not carried out any type of fui)dTaisingT a¢tivities. Page I
THE MANNY COHEN FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025 STRATEGIC REPORT Aehievtments and performanee Investment perforn)ance The constitulioll auihorises the trnstees to make and hold investmenls usingthe generdl fllnds of the charity. The trusiees hav¢ the power io inv( in any way thal they stt fit. It TS the poli¢y of the tnte&s to hold certain property investmenis and also investnient holdings through t portfolio of equity, governinent stLKks and uiiit tnists m8]iaged by a re¢ognised investsnent maTh2ger. During th¢ È¢countillg period the charity w2S the owner of thre¢ prop¢rli¢s. Tivo of these prOrtIeS whi¢h were ground r¢nt ini'¢stnients w¢re retained as inv¢slinents. The third prortY remains the subject of a dispute, Ihe inieniion beiiig that it will b¢ Ted¢veloped to be retoiiied as an iiivestTneiit prorry or sold when the dispute is resolved and is sold th¢ net pro¢¢eds ofthe 5a]¢ will then be inv¢5ted in shares in other iDvestm¢nts in ac¢ordanc¢ ii'ith th¢ policies ad0ed iii r¢sp¢¢t of 011 non-property assets. The portfolio consists of medium risk inv¢stTn¢nts With the obj¢ctive of achieving CAPit81 growih ov¢r the mediumllong tenn and income. At the end of the year the property investrnents Ive valued a( £10,190.0(KJ and the investment portfolio together witli cash at the b&nk was valued at £2,803,291. Financial review Reserve5 policy At tlie balance Sheet date tli¢ ¢harity h8dr¢lain¢d unr¢striGl¢d fund5 includingprq)erty investtnents tolalling £12,490,995. Priiicipal risks and UncertaitieS The tNstees liave a risk managernent Strat¢gy which ¢omprise5'. An anniial review of the risks the tharity may fac¢- - The establishinent of system5 and PTocedure5 to rnitigaie those risks identified in the View. Impleinentation of prnCedllr d¢signed to milliTnise any potential impact on the charity should those risks maierialise. The trustees consider variability of investment return5 to constithte the charity's major fuwcial risk. This is mitigated by relaining expert investnient tnanagers and having a diversified invesllnei)t portfolio. Any operational risk from ineffective grant aivards is Tnitigated by the thistees paying close attention to the public benefit io be derived from their funding of applicalion. Future plans The trustees envisage that thc rharity will continue io operate on ihe same basis as during the later part of this accounting period taking into accoiint the gmendments 10 the objecis n)ade on 26 June 2024. The charity ivill continue to generate investment returns in order to g¢nerdte funds for distribution As grant Awards. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing docutnent The found£1tion is controlled by its governing d(Kument. a deed of tti]siees as amended from lime to tline which sets out the Dbjects and powers of the charity and governs the &ction of the TnJs*es. Th¢ organisatiDn 15 a charitable foundation esrnblished on ?9 liovelnbet 2022 andregistered with the Cliariry Commission on 23 January 2023. 111¢ organisation is a charitable incoTwrated oiganisation ivhose only voting members are its charity triistees and is gov¢rn¢d by ils consiituiion which sets out the objects ]d powers of the charity govems t]ie action of the tTllSte¢s. Reei'uitrnent Rppointment of new tfUStees The Constitutioii pennits th¢ board of trusitts to apwTrillT llustees as it ¢onsid¢rs fit lo do so. Page 2
THE MANNY COHEN FOUNDATION REPORT OF THE TRLSTEES FOR THE YEAR E,NDED 30 APRIL 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT OrgAni517tioiial structure Duriiig this accounting period the board of tnF5tee5 inÈtially comprised three mernbe. But an additional tru5t¢¢ was appoinied on 25th Noveinber 2024 with effect from 29th November 2024. The mernbers of the board of trustees are in contact iyith each other whenevern£cessary to review th¢ affairs of the chariry. All decisions relatiiig to fjnancial strategy and policy are madc by the bo8rd of tyustees. Induction and training of new trustees Th¢ trustees maintain a go(Kl working knowledge of chariry law and best prnctlce. REFERENCE AND ADfvIINISTRA TIVE DETAILS Registered ChAritable Incorporat1 OrganKsation Number CE031198 (England and Wale5) Registered Charity number 1201670 Registered orrlee Ground & Firsi FIr Com¢i' House 19 Station Road New Bamet Hertfordshire EN5 IQJ Truste¢5 M G Waller P S Brah2m M F Harding J A L Dr¢sll¢r (appointed 2911112024) Aiiditor$ John Crook & Panners Statutory Auditors 255 Green Lan¢s Palmers Green London N134XE Solicitor5 Peter Brown & Co, &)licilors LLP Ground & First Floors Comer Hoiise, 19 Siation Ro¢ld. New Barnet. Herts EN5 IQJ STATEMENT OF TRiiSTEES' RESPONSIBILITIES The ts'usiees are responsible for prepartng the Report of tlie Trnslees and the fjnancial statements in accordance with applieIble laiy and Uniled Kingdom Accoiinting Standards (United Kingdom G¢n¢rally Accepted Accounting Practice). Charity law requires the nustees to prqmre fintlncial staiements for each fatl3] y&ir. Under thal law, Ihe Iru5tee5 have el¢cl¢d to prepare the fancial statemeiits in acGoTdance ivith unli Kingdom Gen¢rall)' A¢C¢pl Acrounting Prncli¢¢ (United Kingdotn Accounting Standards and appli¢abl¢ law). PagTe 3
THE MANNY COHEN FOUliDATIOIY REPORT OF THE TRtiSTEES FOR THE YEAR ENDED30 APRIL 2025 STATEMENT OV TRUSTEES, REspof*"SIBILITIES- eon(inued Under charity law tlie tnisiees must not approve the financial siatements unless they are saiisfi¢d that they give a true and f1r view of the state of affai[5 of the foundation and of ihe incoming res(x]rces and applitation of resources, including the income and expenditure. of ihe foundalion for that period. In preparing those fjnancial statements, Ihe tn]stees are required ¢0 select siiiiable accountin& poliries and tlien apply them Consistently.. observe tl)e methods and principles in th¢ Cliarities SORP,. make judgements and es(irnat¢s ihat are reasonable and pnJdenL state whether applicable accounting stsndards have been followed. subject to any material departures disclosed and explained in the financial statetn¢nts' prepare the financial Siaternents on the going concern basis unless it is inappropriale to presume thai ihe foundation will conttnue in busine55. The irusrees are I'esponsible for k¢eping proper accounting records wliich di5¢1ose with reasonable accuracy at any time tl)e financial Posiiion of the foundatton and to enable tiiem ensure that the fjnancial sraiements comply with the Charities Act 2011. They are also responsible for safeguording the assets of the foundation wid hence for taking reasonable steps for the prevention and detection of fraud and other egUlaTitI¢s. Iii so far as the trustees are aware.. Iheie is no relevant audit inforniation of which the foundation's auditors #re unaware: and the Inisttts have taken a]14eps that they oughi io have taken to n]8ke thernselves var¢ of any relevant audit infonnation and to establish that the auditors are awa]t of that inforn]ation. AUDITORS The audirors, John Crook & Partners. Ivill b¢ prOpd for anYO11¢nt at the forthcoming Annual General Meeting. Report of tl)e tnistees, incorpordting a strategic repoo approved by order of the board of ttvstees. on 20 February 2026 and signed on the knard's halF by.. M G Wall¢r- Trnsie¢ Page 4
REPORT OF THE INDF.PF..NDENT AUDITORS TO THE TRUSTEES OF THF. MANNY COHEY FOUYDATION Opinion We l)ave audited the financi81 staternents of The Manny Cohen Foundation (the 'foundation'l for the year elided 30 Api'il 2025 which comprise tlie Statement of Financial Aclivilies. Ihe Balance SheeL the Cash Flow Statement and note$ to tlie finaiicial siatements: in¢luding a summary of significant accounting policies. The fan(la[ reportin fr8m¢th'ork that has be7 applied 1)] tlieir preparation 15 applicable law and United Ktngdom Accounting Standards (United Kingdoin GeneTally A¢c¢pted Accounting Practice). In our opinion the financial statements.. giv¢ a twe and fair view of the state of the foundation's affairs as at 30 April 2025 and of its incomtng resourrxs aiid application of r¢50urces, in¢luding its incorne and expenditure, for the year tlien ended; have been properly prepared in accordance with Unld Kingdom Generally Accepted Accounting PJ8Ctice- and have been prepared in occordance ivith the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those Standards are further described in rhe Aiidiiors, responsibilities for the audit of the financial sratements section of our report. We are independent of the foundaiion in accordance with the ethica] requiremenrs that are relevant to our audii ofthe financial siaiements in rhe UK, including the FRC'S Ethical Standard, and we have fulfilled our oilier ethical responsibiliiies in accordance ivirh rhese iequirements. We believe that the audit evidence we have obtained is suffi¢ieni and appmpriaie to provide a basis fotr our opinion. Conclusions relating to going eoneern In auditing the financial statements. lye have concliided that the trusie¢s' use of the going concern basis of Aceounting in the preparaiion of the fjnancial statements is appropriate. Based on the ivork we have perfonned, we have not identified any maierial uncertainties relating to events or collditiong that, individually or collectively. may casc significant doubt on ihe foundation's ability 10 Continue as a going con¢ern for ft period of at least iwelve monihs from when Ihe fjnancial stsiements are auihorised for issue. Oiir responsibilities and t]ie responsibilities of ibe tyustees with respec( to going concem a described in th¢ Jtl¢v&ni se¢tions ofihis report. Olhtr Information Tli¢ trust¢¢s are responsible for the odier infornialion. The other infomiaiion comprises the inforniation include4 in Ihe Annual R¢w)rt, oiher than Ihe fll)ancial statements and our Report of the Independent Auditors Ihereoll. Ouropinion on the financial statemeiirs does not cover rhe other inforniation and. except lo the extent otherwise explicitly stated in our reporL we do not express any fom) of assurance conclusion ihereon. In conTL¢¢¢ion with our audit of the fanCial statements. our responsibility is to the other infomalion and. in doing so, Consider wliether tlie ot]ier infonnaiion is tnaierially incon5iStent ivith the financial statements or our knowledge obtained in (he audit or otlienvise appears to be Inaierially missrared. If we identify such material inconsistencies Dr appareiit material missialemen(s. we are required to deterniine wlieiher this gives rise to a material misslaiement in the financial stat¢nients themselves. If. based oil the WO we Iiave performed. we conclude tliat there is a aterIal mitateMent of this other inforniation, we are Uired io re)rt thai fact. We have nothing to report in this regard. Mallers on which we are required to report by exeeplion We Iiave nothing to report in respec( of the following n)atteR3 where the Charities {Accounis and Reports) Regulation5 ?OOS requires u5 to report to you if, in our opinion.. the infonnatioii given in the Rqxjrt of the Trustee5 is inconsistenl in any rnaterial respect with the ftnancial 5tateinent5' the foundation has llot kept adequate aKounting record5.' or the financial statemen15 are not in agreement with the accounting recoTds and rernS. or Ive have not received all the inforniaiion and explanations w¢ r¢quir¢ for our audil. Page S
REPORT OF THE INDEPEIYDEP4T AUDITORS TO THE TRusfEES OF THE mAy COHEN FOUNDATION Responsibilities of trustees As explained Inore lull%' in tlie Statement of TNstees' Responsibilities, the tn]gttts (who are also (he directors of the foundation for the purposes of charity laiv) are reswnsible for the preparation of the financial statements Rnd for being satisfied thai they bFive a true and fair view. and for such intemal control as the trustee5 deterniine is necessary lo enable the prepai'aiion of financial staiements that free from material misst2teinenL whether du¢ to fralld or eOr. In preparing the fmancial statements. Ihe inislees are yesnsIble for assessing the fou]idation'5 ability to coiitinue as going concem, disclosinbN. as applicable. mailers relaied io going concern and using th¢ going concern basis of accounting Iinless the trustees either intend to liquidaie the foundaiion or io cease operntioJ)s, or httv¢ no wlisti¢ aliemarive but to do so. Oiir responsibilities for tlie audit of the fin4neial Staleme(S We have been appointed al auditors under Seciion 144 of the Charities Act 20119]]d report in a¢¢ordonce with the Act andrelevant regulations made or haying effeci Ihereunder. Ourobje¢tives 8r¢ to obtain reLwnable 8SSu[Ce about ivhether the financial statements as a whole are free from material Inisslatemeiil, wh¢lh¢i' due to frdud or error. and Io i55ue a Report of the Indepelldent AiiditOT5 tliat includes our opinioll. Reasonable assuranr¢ is a high level ofas5urance, bul is nol a guaraniee that an audit ¢olldurted in accordance with ISAS (UK) Ivill always det¢¢l a matETial l5state[nEt when i( e.Ki5(5. Misstaternent5 can arise from fraud or eor and ale onsideted material if. individually or in the a8gregate, they could reasonably be expected to influence the economic decisions of Iisers taken on th¢ basis of these fancIal stalements. We ¢iiquired of manageinent. and board of trustees, which included obtaining and r¢vi¢wing 5UPPOrting dwirllentation, c(bnceming the charity'5 policies and prLKedures relating to.. - Idelltifying, evaliialing and complying with law5 and regulation5 and whether they '¢re aware of any instances of non. oillpliaiice. Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged - The internal controls ¢5tabli5hed to mitigate risks related to fraud or non-coniplian¢e with laws and regulations. We inspeGled th¢ miiiLltes of meetings of those charged with govemance. We obtatned an und¢rstanding of the legal and reglatOry framework that the charity operdtes in, focusing on those laws and regulations thai had a aterIal effect on the fmancial ststements or that had a fundamental effect on the opcratioiis of the Charity from our profes5ion81 and sector specific eXrience. We ¢omniunicatcd applicable laivs and regulations. Ihroughour the audit tram and n3]ned alert to any indications of non-cornpliallce throughout the audit. We reviewed any reports m2de to regulatots. We reviewed the fancIal statement disclosures and resied these io supporting docufftentation to assess eompliattce with applicable laivs and rcglllations. We perfonned analytical procedures 10 identify anyunusuRI or unexpectedrelationships that may indicate ri5k5 of material Inisslatemeni due to fraiid. In athressing the risk of frdud throttgh mana(Tement overrides of controls: Ive tested the appropriateness of journal entrics and oiheradjusiillents, assessed whetherthe judgements made in making accoknnting estimates are indicative of a potential bias and tested sigi)ificanr transactions that are unusual or ihose outside the normal course of busines5. B¢¢au5¢ Qf the inherent limilations of an audit, there is # risk that ive will not detect all irregularities, including tliose leading ID material Inissiarem¢nt the finaneitil stktement% or non-cornpliancc with regulation. lljis risk increases the ]nore tliat cotnpliance with a law or regulation is rcnioved frorn the events and transactions reflected in tlle financial statemeiits, as we will be less likejy 10 become awar¢ of in5tknees of non-compliance. The risk is also gre&ter regai'ding IITegiilarilies curring dlie to frdud rdther than erroT. a5 fraud involves inntIOnal concealment, forgery, collusion, omission and misrepresentation. A fiirtlierdescriplion of OLir responsibilities for the audit of the financial statement5 is locaied on ihe Fiiiaiicial Reportilig Couiicil's iveb51te at ivwM,.fr¢.org.uklaudiiorsTespollsibilities. Thisdescriplion fornis part ofoiir Report oftlie Independent Auditors. Page 6
REPORT OF THE INDEPE.YDENT AUDITORS TO THE TRUSTCES OF THE MANNY COHEN FOUNDATION Use of our report Thi5 report is made solely to the fouiidation's tNstees. as a body.. in accordance with Part 4 of the Charities (Accouiits and Rewrts) Regiilations 2008, Our audii work has beeii undertaken so that we might state to the foundation's trustees those matters e are required io stale to them in an auditors. report and fornoothErpury)os¢. To the fulle51 extentpemitted by law, we do iiot accept or assume responsibiliiy to anyone other (han the foundation and the foundation5 trustees as E4 body, for our aiidit work, for this report. or for the opini¢Ms we lTrave fo John Crook & PartTrers Statutory auditors Eligible to act a5 an auditor in tenns of Section 154 of tlie Charifies Act 2011 255 Giren Lanes Palniei's Gr¢en Londoii N134XB Dale- 23 February 2026 Page 7
THE MANNY COHEN FOUNDATION STATEMEYT OF FLYANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2025 Period 2311/23 to 3014124 Total funds Year end¢d 3014125 unsIr1¢ted funds Nores INCOML AND LNDOWMENTS FROM Donations and legacies 155,645 12.537,702 Inv¢stsll¢nt income 497,343 Total 640,172 13 035.045 EXPENDITURE ON Raising funds 155.462 64,937 Chxrltable aetivlties GeiierAI Iinyestricted 626,887 322,068 Other Total 782.349 Nei gains/(losses) on inveslnients 111,435) 101613 NET INCOMEI{EXPENDITURE) (253,612) 12.744,607 RECONCILIATION OF FL'NDS Total funds broubht forward 12,744,607 TOTAL FUNDS CARRIED FORWARD 12490 995 12.744 607 The notes forni part of these financial statements Page 8
THE MANf4Y COHEli FOUNDA TION BALANCE SHEET 30 APRIL 2025 2025 Unrestricted funds 2024 Tota] nds Notes FIXED ASSETS Tangible assets Investinents Invc$thient5 Investni¢nt property 264 354 12 ij 2.245,179 10.190 000 1,851,613 10 190,000 12.435.443 12,041,967 CURREf*T ASSETS Ch al bank 558,112 1,203,040 CREDITORS Amouiiis falling due within on¢ year 14 (72,560) (70.400) NET CURRENT ASSETS 485 552 1,132,640 TOT AL ASSETS LESS CURRENT LIABJI.ITIES 12.920.995 13.174,607 PROVISIONS FOR LIABILITIES 15 (430.000) (430,000) NET ASSETS 12 490.995 12 744 607 FUNDS Unrestricted funds 16 12 490.995 12744607 TOTAL FUNDS 12490995 12 744 607 Th¢ trustee5 acknowledge their responsibilities for (a) Isiiring that the charitable company keeps accounting record5 that comply with Sections 130 and 131 of the Charities Act 2011 and eparing financial statements which give a true and fair view of the thte of affairs of the charitable company as at the end of eath financial year and of its surplu5 or deficit for eacli financial year in accoidan¢e witli tlle requirement5 of Sections 394 and 395 and whieh othenvi5e wmpty iyith the requirements ofih¢ Companies Act 2006 I'elating to financial statements, so far as &pplicable io the charitable incoqx)raled orgallisation. (b) These fanCIal slatcm¢nts have been audiled undeT ihe requirements of Section 145 of the Charities Aci 2011. The financial stateiiieiits were approved by tlie Board olTTUStees and auihorised for issue 01120 February 2026 and we signed on its belialf b),= M G Waller. Tn]stee The notes forn) part of these ftnancial Sthteents Page 9 coiilinued...
THE MANNY COHEN Fouf4DATION CASH FLOW STATEMEYT FOR THE YEAR EJNDED 30 APRIL 2025 P¢riod 23/1123 to 3014124 Year ended 3014Q5 Notes Cglsh flows from operating activities Cash generated from operations 13 072 896 Nct cash (used inyprovided by operating acriviries 234.4541 13,072,896 Cash flows from iiivesting activities Purchase of tangible fixed assets Purchase of fixed asset uivestments Piirchase of investment property Interest received Dividends received {425) (1.750,000) (10,190,000) 38,022 (505.001) 36.139 Net cash used in inve51ing activities 410.474) 11869 856) Change Sn eash and cash equivalents i tlie reporting period Cash and e#sh equivalents wt the beginnin£ ol the reporting period (644,928) 1,203.040 03.040 Cash and CAsh eqiilvalents tht (he end or the repoi'ling p¢riDd 558.112 1.203.040 The notes forni of these financial statenients Page 10
THE MAflNY COHEN FOUNDATION NOTES TO THE CASH FLOW STATEMEP FOR THE YEAR E,YDED 30 APRIL 2025 RECONCILIATION OF NET IEXPENDtTUREyINCOME TO NET CASH FLOW FROM OPERATll¥G ACTIVITIES Period 2311123 to 3014124 Year ended 3014125 Net {expenditure)lincome for the reportlDg period (as per Ihe Stxtetnent of Finanfial Activities) Adjustments for: Depreeiation charges Lossesl{gain) on investments Interest received Dividends received Provision Increase in creditors {253.612) 12,744,607 89 111,435 (36,139) 158,388} 71 (101,613) 138.022) {32.547) 430.000 Net eash (used inyprovided by operations 234,454) 13 072,896 ANALYSIS OF CHANGES IN NET FUNDS At 115r24 Cath flow At 3014125 Net e&sh Cash at bank 1203 040 644,928 558,112 1203 040 558,112 Totsl 1.203 040 644.928 558.112 The notes forn] part of these financial slatemeiits Page 11
THE MAIYNY COHEN FOUNDATION NOTES TO THE FINANCIAL sfATEMEYTS FOR THE YEAR ENDED 30 APRIL 2025 ACCOUNTING POLICIES BAsi$ of prtparin8 the fin#neial statements The linancicil statemeiiis of the foundation, which is a public benefit entity under FRS 102. hav¢ been prepared in accordance with the Charities SOIIP (FRS 102) 'Accounting and Repominb by ChAliti¢s= Siat¢ment of Recoinmeiided Practice applicable to ch8rities preparingtheir accounts in accordance with th¢ Financial Reponillg Standard applicable in the UK and Rq)ublic of ITeland (FRS 1021 (effective l Jalluary 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ir¢lgnd' and tlie Charities Act 2011. The fancial 5taternents hav¢ been prepared under ihe Iiisiorical cost convention. with the exception of inv¢slments which are included at market value. as mlfied by the revaluaiion of rtain assets. Income All incoii)e is r¢cognised in the Statement of Financial Aciiviiies once the charity ha5 ¢ntitleTn¢nt to the fund5, it IS PTobable that the in¢om¢ will be received and the amouni can be measured reliably. Expenditur¢ Liabilities are rwognised as expcnditUTe a5 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 5¢tt1ement and the ainouni of the obligation can be measured reliably. EKpendithre $5 accounted for an 2c¢n]als basis and lias ixen classified under headings ihai aggreg8ie all cosr reld io ihe Cagory. Wher¢ c051s ¢annot be directly atllibured to particular headings they have been allocated io activities on a basis con5iStcnt with the use of resources. Gran offered subj¢¢t to conditl9115 which have not been met * the yearend dale are noted as a commitment but not accrued as expenditure. Tangible fixed assets Depreciaiion is provided at the following annual rates in order lo ivrite offeach a&set over its estimated usefvl life. Computer equipment 25Vo on reducing balance Investment properlv Investn)ent pniperty is shown at m05t recent valualion. Any aggregate sujplus or deficit arising from ch2nges in fair value is recognised in the Statement of Financial Activities. Taxation The charity is exeinpt frotn co4xTrrdtion tax on its chari(abl¢ activities. Fund accounting Untystricted funds can be used in aOrdanCe with the charithble objectives at the disctytion of the tntees. Restricied funds can only be used for particular restricted Purposes within the objects of the chariry. Restrictioi)s atise when specified by the doiior or when funds a raised for particular restricted pw)oses. Further explanation of the nature and PUTpose of each fupd is included in the noies to the fmancial statements. Page 12 contiiiued...
THE MANNY COHEN FOUNDA TIOFI NOTES TO THE F[NNcIAL STATEMEf4TS- continued FOR THE YEAR ENDED 30 APRIL 2025 DONATIONS AND LEGACIES Period 2311123 to 3014124 Year ended 3014ll5 Gifts 12,537 702 INVCI STMENT INCOME Period 2311123 lo 3014124 Year ended 3014n5 Rents received Other fixed asset invest- Fll Deposit accoiiiit inteiest 390,000 58.338 426,774 32,547 38.022 484 527 497.343 RAISING FL'NDS Investment management costs Period 2311r23 to 3014124 Year ended 30J4125 Property repairs and site clearance 155462 CHARITABLE ACTIVITIES COSTS Grant nding of tivities (w note Support ¢0sts (see note 7) 6} Totals OeneTal iinreslricied 563.246 63,641 626 887 CRANTS PA YABLE Peri(HJ 2311123 lo 3014124 Year ended 3014125 Geiieral unrestriet¢d 563.246 321300 Pa¥e 13 continued...
THE MANNY COHEN FOUNDATION NOTES TO THE FI.YANCIAL STATEME.YTS- eontillued FOR THE YEAR ENDED 30 APRIL 2025 GRANTS PAYABLE- fontinued The lotal grants paid to iiistitutions during the year was as follows: Period 2311123 to 3014124 Year ended 3014125 Childreiis and families Healtli Ediicatioii Conflict relief 143,746 253,000 31,500 135,IK>O 62.300 19,000 150.0(K) 563 946 321300 SUPPORT COSTS Governance Costs Mavag¢m¢nt Finan¢¢ Totals General unrestri¢ied 357 NET INCOMEI(EXPENDITURE) Net income/{expendtrure) is stated after charging/(creditin&): Period 2311123 to 3014Q4 Yekr ended 3014f25 Aiidiiors, reinuneraiion Depreciation - oivned assets 9,360 90 5,400 71 TRUSTEES, REMUNERATION AND BENEFITS There ivere no tn]siees' remuneration or other benefits for ihe year ended 30 April 2025 nor for the period ended 30 April 2024. Tru5tees' expenses Peri(xl 2311123 io 3014124 Year ended 3014r25 Trustees, expenses 26 Page 14 continued...
THE MANNY COHEN FOUNDATION NOTES TO THE FINANCIAL STATEME)TS- fontinued FOR THE YEAR ENDED30 APRIL 2025 io. COMPARATtVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds INCOME AND ETriDOWMENTS FROM Donation5 and lesJacie5 12,537.702 Invesftntnt incotne 497.343 Total 13 035 045 EXPENDITURE ON Raising funds 64,937 Charltable xctivities General iinrestricted 322,068 Other Total 392051 Net gains on investments 101613 NET INCOME 12.744.607 TOTAL FUNDS CARRIED FORWARD 12 744 607 TANGIBLE FIXED ASSETS Computer equipment COST At l May 2024 and 30 April 2025 425 DEPRECIATION Ai l May 2024 Charge for year 71 AI 30 April 2025 161 NET BOOK VALUE At 30 April 2025 264 At 30 April 2024 354 Page 15 continued...
THE MANNY COHEN FOUNDATIOIY NOTES TO THE FINAN'CIAL STATEME.YTS- continued FOR THE YEAR ENDED 30 APRIL 2025 12. KIXED ASSET INVESTMENTS Listed investments MARKET VALUE At l May 2024 Addilioiis Impairnients 1.851,613 505.001 111435) At 30 April 2025 2245,179 NET BOOK VALUE Ar 30 April 2025 At 30 April 2024 1,851613 The were no investmeni ae[S ouiside the UK. Cosi or valuation ai 30 April 2025 is represented by- Listed inve5rments Viiliiation in 2024 ValuatioTr in 2025 Cost 101,613 {111,434) 2.255,000 2,245,179 13. INVESTMENT PROPERTY FAIR VALUE At l Nlay 2024 and 30 ApTiI 2025 10,190,000 NET BOOK VALUE At 30 April 2025 10.190,000 At 30 April 2024 10 190.(K)Q The investment properties are included at the valuation at April 2023 ivhen thty were donated to the foLuKlation. The tNstees believe that ihe valuation of these properties io be the same wh¢n th¢y were received. 14. CREDITORS: AMOUNTS FALLING DUE WITHJN of4E YEAR 2025 2024 Accnials and deferred income Page 16
THE MANf4Y COHEN FOUNDATION NufES TO THE FINANCIAL STATEME)'TS- continued FOR THE YEAR E.YDED JO APRIL 2025 15. PROVISIONS FOR LJABILITIFS 2025 2024 Provisions 430,OQO 430 000 16. MOVEMENT IN FUNDS Net movement in funds At 3014r25 At 115124 Unrestricted funds Geiieral fund 269-271 Hackney Roa Capital Fund 185229 435.063 12 124315 (92.3421 {161.270) 92,887 273,793 12 124 315 12 744.607 253612 12 490 995 TOTAL FUNDS 12 744.607 253 61?) 12 490.995 Net niovement in funds, included in the above atr as follows.. Incoming Resources ¢xpended Gains and losse% Movemeni in fiinds Uiirestrieted funds Gei)eral fund 269.271 Hackney R(bad. 610.136 30.036 1591,043) (111,435) (92,342} 161,270) 640.172 782,349 111435 2S3612 TOTAL FUNDS 0.172 782 349 111,435) 253 612) Coinparatives for movement in funds Net ovement in funds At 3014r24 Unrestrieteij fiinds Gei)eral fiind 269-271 Hackney Road. Capi121 Fund 185,229 435.063 12 124.315 185,229 435,(h53 12 124 315 12.744.607 12 744.607 TOTAL FUNDS 12 744,607 12 744607 Page 17
THE MANNY COHEN FOUNDATION NOTES TO THE FINANCIAL STATEMEPiTS- eontiDueil FOR THE YEAR ENDED 30 APRIL 2025 J6. MOVEMENT IN FUNDS- tIned Comparative net movement in fimd& included tn ihe above are as follows: Incoming resources Resource$ expended Gains and losses Movement in funds Unrestrieted funds General flind 269-271 Hathney Roa(L Capital Fund 512,343 500,IXJO 12 022,702 1327,114) (64,937) 185,229 435,063 12,124 315 101,613 13,035.045 392,051 101613 12,744,607 TOTAL FUNDS 13.035 045 392,051 101613 12 744607 Capital Fund Tliis fund is (he gifts from the late Ernmanuel Cohen. his companies and other members of the families. The trustees do iiot intend to distribute these funds in the foreseeable furnre and intend to distribule the income generaied by Ihese assets. 269-271 Haekney Road The foundation ivas gifted this property, which is included in the ¢apital fund, but w¢r¢ 50ffte liabilities resulting from a fjre. The trustees of the estate provided £500,000 to Coverany poieniial liabilities. 'n)is fund is to ensure thai ihe tentIal liabilities are aoUnted for. The donor has provided guarantees for any additional costs in relation to this. General fund The rruslees iniend io distribute all income generated by ihe ¢opita fund to beneficiaries. Any income not distributed in the year will be distributed in the followfftng perio 17. RELATED PARTY DISCLOSURES During the period under review the Foundation received the followirjg donations from related partie5'. £144,536 {2024- £10.705.364) from Megerdor Property Investments Limited, a ¢oinpany that was owned by th¢ late Eillm&nuel Colien. Helen Cohen and Editli Senett. The direclors of th¢ ¢ompany are also trustees of the Foundation. £11,081 {2024 £2.200.0) rrom ihe Estste of Emmanuel Cohen. Includ¢d in the cash donation in 2024 received was a suin of £500.(X)O respect gf potentio1 liabilities that may arise in connection with 269-271 Hackney Road. The property was valued by a firni of Chartered Surveyor5 as having a MAtr value of £1.700.0( at Jime 2023. howevEr the donation ha5 been valued ai £1270,000 to recognise the li8biliti¢s tliat may arise to third panies. Tlie t]U51ee5 of the donor have undertaken to reimburse any additional costs that niay Arise. The trusiees of die E5taie ar¢ also t]ie trustees of che Fow)d8tion. 7he costs incurred this year Iiave been £191,306. In 2024 Ihe foundation received £]0, Each from the estates of Bernard Cohen deceased and H¢len Beatrice Cohen deceased and £27.i37 from th¢ estate of Editli Senett deceased. These There all donatlOll5 from the siblings of Enimanuel Cohen de5¢d. The tNstees of the esrates are also the trnslees of the Foundation. The trllst¢¢s of the F7ndation are partners in or consultants to Pder Brown & Co Solicitors LLP. Thai firnj Provided legal fees to the foiindation ai ffia]kel rat¢s. The aTnount paid io the rM was £47,292 (2024 - £nil). Page 18