Ch¥ty reglstration numt*r.' 208575 The Humanitarian Trust unathjrt AMu81 R8port and FknancAal Slatements for th? Year Ended 5 Aprfl 2025 ocm o¢mole
Th8 Humanltarfan Tru¥t Content• Refer and AthIn16trat Dotwls Trustee8' Report 2to3 statneI of Trustses. ResponB*iilit Ind8p8ndont EJraminèrt$ Report Stgtement of Flnan¢lal AdNilres Bglance Sheet Notes to the Flnanckpl Statements 8t014
Th8 Hurnanltsrlan TruJt Referenco and AdmSnl$tratlve D•talls Jwuos Samo1 Ch8rteB Gunsbourg Pbrre Fr&rKis Haban Emrnanvel Gun8t¥)uYK8s9Vi Axander Haban Prfnclpal Offlcè Pr6m the Grft Fund 20 Gbuce¥t8r Place London W1U 8HA Bank•Ys Lws 8ank 105-109 St8tton Road Ed9wa)è HA8 7JL Swah Twist FCA DChA A C Mc48 LLP CharteMd Accounta3 Stafford Hou3e Blackbrook Pork Avarwe Taunton Somersel TA12PX Independent Examlner Investment Manag¢r Cozenov¥ Capital 1 London W811 P London EC2Y SAU Charfty R•g15tratlon Number 208575 Paga 1
Th• Humankarfan Tru•t Trustees. Report The Iruslees present the annual report alw vllh the fnondal ststernents of The Hurnonitarian Twsl Clhe ChariV.'The Trust,) for the year ended 5 April 2025. The TrusleeB confirm that the financAal stslernenls have been prep8T&I in accordance vAlh tha aCln11n9 policigs set ttut In th¢ t¢ the count3 and comply wlh the ChaTiV$ govemirKJ document, the Charities Aol 2011 and Accounting gnd Reporting by Charitwts.. Slalement of Recommended Pradice 8pplrAbk to charibe$ pParIng their accounts in aordanCe with thè FInat Rwrtlng StaNdaYd #pplic8bl8 In th& UK 8nd Rapubl'c ol Ireland publi8h•d on 1 January 2019. Con$titutlon and oblects Thg HumanitgrlBn Trusl Is ¢onstttui8d und8r dedaralKm of trust dal&d 16 Juty 1946 by Mhael Pot8k. Vladlmir Idelson 8MI Mahvei GunBbourg. tt is a regter {No. 2085751. The ¢bIeds of the Charity are for the Trusl8e6 to appty the Tw6t Fund and Ihe income thereof to or t(NYard8 or forlhe benefrt or in furthers? of su¢h charitabL• PUFpose8 or d)arilabkfj instltUthy As the Trust•tss sham In th8lr Èbsolutè discretion think fit. Oryankatlon The Tru8tee8 who have 8eNed durTnu th? yoar, and slncg t y•?r-gnd. a set wt on 1. The Charfty has no employees. The Trustees are seLted for their experience and expertise. ExperierKed Trustees support new Trustees. The Trust Deed 8llowB the appointment of additK¢nal Tru81ee8 up to MMrn of7 peop. Trttea8 meèt a yaar tts award donattons. 7&W th6 Invesbnent portfolio. aThJ to discuss the 8dministTation of the Trust. The Trustees have appointed an adminY6tralor to manaoe the day-lTrd8y operatbns of the Tru81. Grant m•klng pollGy The Truilebs do atrApt any unsol8d applutions from charkies due to the ongoing relationshlp that il has wh a nimber of organisatKns which fviri it5 charitae oblorJ H8V, the Tru8t ctcask)nalty knvrt¢s crItth to sond in 8pplkalk)ns for consideratlon at Board meetings. Flnancjal revlew and Investment pollcy During the yeaT, the Charity heAI income of £239.506 P024.' £236,789) and tha Trustees donalvJns of £252.694 {2024."£270,9101. The Trustee8 hope to maintwn the same bvel of donal made by the Charity in the near futurn. Th8 Thislees have fund8 under rnanagemonl wth Cazenove capital who OFerdle Ihe Investrnant 81rategy on lJehalF of th8 TNstees. Furth at lair Va at S April 2¢r25 were £5,585,898 12024.. £5.519.8971. Total res8rve3 at 5 April 2025 WeTe £5,570,017 12024.. £5,475,593). 1 reserves helj by the charty are unrestricted. The charity maintalxs a capltal account. which Lq Invested to generate incorr, and an inccme accounl. whth is used to meet On9n9 conynilments and expendtiura. RÈ&erves policy The intention of the Tru8t¢0s Is to retaln tho long-tsrm ImStrnts. The invesbmen18 prcxluce inco to cA)ver the grants reCnmended by the Trustaes the rebted support costs. Cash raSerS A maintathed in or(ter to maot forthcomlng commitments. Page 2
The Humanltsrfan Trust Tru$te8s' Report leontlnuedl Rlsk managernent The Trustees have rewth¥ed tho majcf IT8k$ to Wh the Charity & 6xposed. particularly those relating to Ihe operalK)M and finance6 of the Tru81. The Tru8lee8 have given conBideralion to the apprcyriate polkies, prOlUre8 and syslern8 lo miti98tg the Chariws w05ure to tho¥e risks. Inv8stm8nt polky There are no reelrict>Jn8 on tha TnJ3teeJ pcwor to Inve. The #westment stralegy is set by the Trustees and takes account of Ihg dern8nd for fvnd$ and th quality of the funding application& The Tru¥tees consyjer tho iM¢ome requirements, the risk profile. and Ihgn the Irwestrnent managers, Vie of the market prospects in the nRdium- lenn. The strategy i set within an overall poly. %thch states th thè lunds b8 Invested In low and m8(fium tsk investmènts wfth a vEaw to ensurfng Ihal caprtal appreciation of the fund exceeds infl&tion. The unr8Strfcted fund may be invesled n any We of investmenL PUNIC benefil The trustees confirm that they have complied with the requirements ¢A 8eclion 17 of tho Chaiib¢8 Act 2011 to have due regard to the pliC benefrt gub482 PEtb115hed by the CPAnly Commi8glon foT Engkgnd and W81•s. Page 3
Th• Humanltsrlan Tru•t Statemnt of Trusts. Responslbllitles The tte•S are responsibk for prepArg the tte8, rgport and the financlal stot•mants accordawA wlth tho 8ppknble law Ènd Unlted Kingth kngunling Standards inCludg FThnd RÉporting Standard 102.. The Flnanclal Reporting Stsndard appliable In Ihe UK and Republic of li•land (United Klngdom Ganerauy Accepted Accounting Pradic£l. The applrAbb to ¢h¥ritl88 in England & Wabs require8 the InJ8le•s b prepare ffinanc4al statements for each financkql year which gThi• a true and fair view Df the state of affairs of the charity and of lh• income and eypertditure of the charity for thot period. In preparing thw ffinanckgl $1otem&8. the trustees are required to.. $tsknt ste 1110 policS and then aFPty them ¢on8i8tenltr, obierve the rneth¢)ds and Prfnp$ In the Charitle8 SORP.. makeludgemenis 0ThJ eslimate8 th arè reasonable ar¥J prudent,. state whelher Bpplicabie armunling $tandards kn been folknd. 8ubied to mrl81 departurts thsclosed aTKI explalned in the finarKl818tatem$nts'. and prep8re Iho financMI SlatemlS on the goino concèm basis unless it inappropr18t• to pre8ume that the chwity wll contlnue in business. The tru¥tees are respon5ibl¢ lor maintaining propw aCCjIt1fj TecixdB whlth dlscktse ¥Ath reasonable accuwy al ary lime the finand81 posthon ol the Charity aNI gnJlo Ihem lo eFTe thot the Ilnanck81 stalemenl8 compty vAth the Charitie¥ Ad 2011, the Chaty IAc£ounts ond Reports) Regulation8 2008 th6 prov46w of Ihe tvusl deed. The trustee$ are BL80 re8pollBitAe for Bafegu¥rdlThJ the assets ol the thariiy and hence for tsklny rnesonable steps for the prwnlkn And delectn of Irwd and oth¢r Irregularit. The trustee8 we re¥ponsible for ¢hg maillt•nance and integrity of thè charity and financi81 iftlomiatl kncluded on the charitls wabsttè. LegisLalion in tho Unttad Kingdom oovemlrrfd the preparatron and disgeminalion of hnanclal statements may drfferfrcm legi81atrJTh in dKryrjuTisdiction8. Approved by the ofthe charity on m11.1 and 8lgned on lis behalf ty. i>larre Franth Ha}n Trustee Pog¥ 4
The Humanltarlan Trujt Independent Examlnerfs R•port to the trusts•s of The Humanltarlan Trust I rttpurt to the trustee$ on my examin8tion of acGoun18 of Tho Hum9nhgrfan Trust for the yaar ended S April 2025, whth are sèt oul on pages 6 to 14. Respectfve r•sponslbllttles of trustses and examlnor As the charity tru8lees of The Hum8nA8rfan Trust you aTe rejponslble for the preparation of thg accwnls In danCVAlh Ihg requIreMtS ofthe Charitkn Act 2011 cthe A(l. I report in re$pÉct ol my examinath?n of the The Humanitsrtan Trusfs accounts carrw out under 8eclion 145 of the 2011 Act ond in rry1[¥j out rny ex8mination I Ie loll)wthl all the applKoblo Dlreetion6 gNen by tho Chaty Commission und¢r sedicfi 14515Xbl ofth• 2011 ACL ndependont •xamln•rf8 ststemgnl I have completed my examinatKSTr. I confimi that no material matters have come to atttknn connedi¢)n th the eX1110n gmng me cause lo bdleve Ihat in any m8tèrkg1 rèsp8rt'. 1. wunting record8 wgm not kept in respect of The HuManitan Tw6t 06 requirJ by 6xt1) 130 of the Aet.. or 2. the accounts (b not oword Yh IhoBe rerdS.. or 3. the accounts do not compty with the appIAb requlrements cOreming the lonn and content of accounts B¥t out n) the Charities {AOUnt$ and Reports) Re9uLqti)ns 2(K)8 other than any requirement that Ihe ¥cnIS give a ITUè and f#k VW whh Is not • matter CnSIdered a8 part of an Indèpé1ènt eK&mination. I heve no concem8 and have ccme acTO88 no other matters in vAlh the examinatn to whh attent shoukj be drawn In thls report Ki ryder to 8nabl8 a proper ur¥Jer8tanding of the ac¢ounts to be reached. Sarah Tlst FCA OChA A C IAole LLP Chartered Accountants Stknrd Hoe Blackbrook P#rk Av8nu8 Taunton Sornerset TA12PX Date.. Paga 5
The Humanltarfan Trust Siat•ment of Flnanclal Actfvltles forthe Year End S Awll 2026 UnrtrIcted funds Total 2025 Incomo Inv8¥tm8nt Incc4me Totsl ktcom¢ Expendltur 'sing funds charable thil {13.499) 80.339 113.499) 280.339 Total expenditure Gainwlosaè8 on Inve8bnent a$80ts 1293,838) 148,756 (293,838) 148.758 Net income 94,424 Nat movement th funds 94.424 94,424 R¢¢onclllatlon olfunds Total fvnd$ brought forw8rd Tolal funts caml¢d loNMrd 5 475,593 6 $70.017 5.475,593 11 5,570.017 Unre8trfcted funds Totsl 2024 Notè Incomè Invèstrrt•nt incor 236,789 Tot81 inc 236,789 Expendltur• on: Raising fvnds Charitable actsvttie8 114.933} 3CrfJ,339 114,933) 300.339 Tot21 expendltu Galnwlosses cffl inv&8tmènt ass8ts {315,2721 314 583 1315.272} Nat Incom6 Net movement in funds 2S9,100 236.1 Reconclllatlon of fund Total funds bTought fotward Tc4al fuThY8 rarrled foNard 5 239,493 5.239.493 1f 5 475 593 5,475,593 The notes on pages 810 14 fomi part Oft8 fln8ndal ststements. Page e
Th• Humanltarlan Tru•t (Reglstratlon number.. 2085751 Balance Sheet aB at 6 Aprll 2026 2025 2024 FIX assets Investm8n18 5,585,898 5.518.897 Currènl assets Debtor8 Cosh at bank and in hand 7,941 45,834 13,9C#) 29.781 45,899 90,203 Crèdltors: Amounts falllNJ due wlthln oné ar Net current Ilabllltlg 10 44.304 assets 5.570 017 5 475 593 Unre8tri¢ted funds 5 570 017 5.475,593 Totsl funds 11 5 570.017 5,475,593 The finanaal stalemtrnl8 on 6 to 14 were approveil by th8 tntstees. and authcffjiBed fc* i85ue on IIIIJZo and slgned on thr behaw by. ne Hdban Trtee The te$ on pages 8 to 14 form part of these fmanual ststmnl P&3e 7
Th• Humanltarlan Trust Notss to th• Flnanclal StateTngnts for thè Y•ar Ended S Aprll 2025 1 k¢ounllng polkles Statsm•nt of complhn¢• •nd bgsls of prnparatlon The financial staterrents havo b8en prepa urJ8r the hIstcal cosl conVenOn with item8 recognised at tcét or traThsadon vthe unJe¥s 3taled othemse within these nots8. The financlol Ststements have been prepared in accord8 Wth Accounting and ReFQrting by Charitie&: Statement ol Recommended Practice appficabJE lo IhèritiE3 Ilivir aUu1)t5 Xdanc with th6 Flttanclal Reporting Standard applble in the UK and Republi¢ of Ireland IFRS 1021 lissued October 20191 IChariti96 SORP IFRS 102)). Ihe Financkgl ReportlrYJ Standard appfirable kn the United Klngdtyn and R¥Ubl of Irdand RsIo21, and thé Charllles Acl 2011. The HumantsrT8n Trnst meets the definftlon ofa Plknilc b8n6fft antity under FRS 1W2. Th¥ pre5enlatk CUTTenw of tha finwKial ststements the Fnd Storlino (Q. Amount6 aro rounded to the nearest £. Golng concern The trustees con51dar that there are no materfjal unc8rtslntlès about lh8 tharityB abilty to CJJntinue a5 golng ¢on¢èm. Income Inve8lment lrtome is accounted for in the peFiod in the Charity Is entitled lo receipL Expendfture All ÈXndrt1a 18 recDgni6&J once thèm k a leoal or constructive oblipation to that èxpenditure, t is EObable seitlernent 1$ raqulièd and the 0nt can be measured relrdbty. All o)sts ar8 allocated to the appCable expBnd1tU heading th810gJregate iimllar costs to that category. Whertt costs cannot bts dlrectty attribut( to partlcular headings Ihey have been aloced on o basis consistent wlh the e of resources, with central staff c0815 dlocaled trn the basis of time 8pttnt, and depreciation charges ¥lk)cd on t ptybon of the asget's use. Other SLtpwt costs am albcated ba8ed on the spread ol slaff rAt& All rnsCAJr exp8nd ar• IKlushm of IrVerable VAT. Roblng funds These are costs incurrd In gttr&tlng voluntsry income, the manwrnl of inve8tmonts tho incurfed in tradlng a¢twities that raBe lund$. Charftable a¢tlvltlés CharFtsble ewenditure compris$¥ It8 costs inovrred by the rharity in the delivery of its acaivil and seryicE8 lor its benelki¥les. It indleS both costs that ean be allocat&S (lireGI to such 8s grant8 paid and those CDsls of an indwect nature necessary lo support them. Giants Provision5 for grants made when the intention to make a gY8nt has been communicated to the recyplent. Pap? 8
The HumanFtarfan Trust Nots8 to the Flllanctal Slthon15 for th• Year Ended 5 Aprll 2025 Icontlnuedl Taxatlon The charity k# a r8glst•rod charity and b, IheTefore, exempt 1M liabilty to laxation on fts tncome and pttol galns. to the extent tlwt Ihoy ar• appld for charitable purposts. Ftxed asset Invostments Listed Inv86tmenta Ll8t•d #)vestments arè a fom of baoic finaThNal in8tNMeNt Bnd ara inftlaly rec4Jgni6•d 8t th•lr transadKJn valuè SubSent measur¢d * falr valu• usiw the c108ing quottd market price. Qted Investments are sted * th&lr falr valu8 at 31 Marth whrch Is used to approxmale lo the baLgnce sheet da. R•ali8ed geins and l)3888 All gain8 and b58es are taken lo the stsl8maiit of flnartL45 activItS as they ari88. Réalls8d galns 8nd lossas i)n Investments are calcuLqt8d as the dSffeTere ben sales procaads and their opeThng carfying ¥due or their purchase value a4uSred subwuent to the fwst day d the financial year. UnrèalLsad galns and lo& are ¢okulated as the difference befvfftn the fair value al the period end and carylrva v¥lug. Re81isvd a)J unrealiryed inve8trn8nt and 1086e8 are comblned Hi the statement of Financial ActNilies. Cash and Gash 8qvl¥alents Cash and cash equwalents compris8 eash on hand and call depoBWs, 3r oth•r short4emi highty IiquKI it)vestments that ar8 Madlty convertible to a known amount of cash are subj1 to an insvanrfKant rk of chary in Vae. Fund stTUCture All funds are unreslrfeted. The Fund8 arè eypendabl? the discretion of tha Twste6s In furtherance ol the oE4ectNes of the charity. Fln8nclal Instruments The charty Onty enters into ba8K fin8ncbl InStrunIS Ihal resutt in th8 TecGsnthn offinanck41 asseis and lièbiliti#s 8(Jch •$ trade and cthr debtors and creditor¥ tcgethar wlth loans to reIed part D8bt Instruments, Swh 85 trade debtors and c{1it0rO, ar8 1ntt1al measvrad at tran8Xtkx pre and subseqventy measured at 8mortis cosl Ftnanaal assets are aw8$1 at the end of pOrtIng period for oblectNO of inpalrmenl. If obVe eden of Impairment Ls found, an Impairynent 1085 Is rgnised in Ihe Sncome statement.
The Hurnwnltarfan Trust Nots8 to the Flnanclal Statèmgnts for thè Yèar End•d 5 Aprll 2026 {contlnuedl crftlcal Accountlng Estlmate and Judgements The preparati of th• finantyal statements in conlorrTWtywith FRS 102 wulres man898m8nt m8ko judgements. estimateB and assumptlons that aff•¢t Bpplutbn of polle$ ond report&J amounts of sets znd liabilit. income, and expenses. Estimates judgements are contlnually evalud and are based on hL$trCl e¥PenCe and c*her factors, induding eXped#tnI of fubjre events that are bel lo be reasonBble under Ih circumstances. Thg company makes estimates arKI 38aumplltsns conrAmlng lh¥ fviur•. The resulting countIng estimates WN, by definitlon, 8eldorn equal the related actua results. Tha Trustees consider that ther? arè no crlti¢81 untIng estlmates and I1gnnIS that have a 8ignDfic8nl risk of cèuswig a matwlal a)Ustment lo the carrwng amounts of a8Set5 and Ilabilities within the next finanaal year. 2 Investment Income Total 2025 Totrl 2024 Interest rethabk on bank d8p)stts Interest CeNable from in¥e8tmÈnt DIdendS raceiwabk from lisle4J inveslments 418 391 238.697 136 324 236,329 P4e 10
Th• Humjnltsrlwn Trust Not to the Flnanclal Statoments for lh8 Yèar Ended S Aprll 2025 Icontlnuéd) 3 Expenditure on charltsbltt actlvNI 2025 2024 Acadomlc and Educatlon ORT LK Birkbeck Coll Friend8 ol Hebrvw unrI ofJerLisal6m FET R¢ne C85$in CCJO Oxford DevekymeThl Trust Langdon studentshlps Total Acad•mlc and Educatlonal 20.C•JO 20,000 12.000 60,000 20.000 10,000 4,500 13,000 30,000 20,C(X) 7.5 13.000 125,194 152410 Medlcal And Charltabje Ohel Sarnh, Instilthe for the Speckgl Chltd Tot•1 Medkol and Charttable 8o¢lal Serrflc• Jèrusalem Foundath)n J¢ore IsM81 Fund World Jewk%h Retr'ef - Ukraine Cri8is Respon$9 Solutions Not Sldes L8tot J&hiBh Womens Aid Lknion ofJewi8h Students World Jewk8h Relief hk)rwood4aven8worxl 25,000 7.500 10.000 15.000 15.000 15,000 5.000 10.000 15,000 10.000 20,DJO 7,500 35,CtJo 15,)0 15,CK)O 15,Tr)0 Totsl Srtlal S•NIc 127,500 112,500 Total Donatlons 252,694 270,910 Support costs Totsl Charltable Expendltur• 280.339 300,339 Page 11
The Humanltarlan Trust Noteg to tha FlnAnclal Ststsrnents for tha Yèar Endod S Aprll 21126 l¢oNtlnuedl 4 AnslB ofsupport costs Charltsble Jctlvltlos éxpondlture Total 2025 Total 2024 AdmSnf8tralbn tse to PrL8m Accountancy Indepèndent Examlnerfee Legal fees 21.671 3,300 2.450 22,283 4.100 2,610 35 337 84 131 87 Bank charge6 27,845 29.429 5 Tru?ts¢s romun•ratlon and exp•nsas No Twste88 rece Twnunèrathjn OT tre reinbursed for ¥) the rrent or prc•dlr¥J y¢w. Staff numbers There arè no *nployees {21Y24.. Nono). 7 Taxatlon Thè Trust l¥ a raptered tharity and ts exampt frcffl liabilny to on it8 Income and cap1 gal. lo tho extent that Inntr or 9akns are applN%l excluap40ty to charltabl8 purposes. Page 12
Tha Human5tsrlan Trust Note8 to the Flnandal Statemènts fortho Year End 5 Aprfl X126 lcontlnuedl 8 Quotad Inve&tmants 2025 2024 Ma1 value at 6 Aprfl 2024 Cisposals Revoluotion 5,231,589 111,0401 147.796 5.332.527 1408,326} a07,7 M•rk* v8lu• gt S Aprtl 2025 5,388,345 5231,588 C3Bh within inveslmenl portfolio 217.553 288,309 At 5 ApTiI 2025 5.585,898 5.519,897 Investments at tslr valuo comprl8•d: Schroder Charity Mutti-A8set Fund kSBC Stsrflng ESQ Liquidty Fu1 5,380,898 205.000 5,585,898 5,244.897 275,000 5.619,897 Th6 valuatbn of investmnts 15 ba6&S cn the 31 Mar¢h v8luatk)n prowded by the inv8strnent broker. In ac¢ordanee vAth acoJuThtrr9 polky. thLs valUalk haa been ubed to approximate Iha valu• at the year end. g DebtOTS 2026 2024 Prep8ymenl8 Ac£rued 301 7.640 7,941 65 10 Credltorn: amounls falllng due wlthln on• year 2025 2024 Other tredrtors AccruaLs 19.ODO 10,781 29.781 80.250 9.953 90.203 P¢ 13
The HumanltarlaTr Tru¥t NotOS to the Flnanclal StsteTnents fortho Year Ended 5 Aprll 2026 IntInued> 11 Funds Other recognlsed Balance galn81 at S Aprfl Income Expendlture TrOf3 Ilossesl 2025 8alane• at i Aprti 2024 Capital Account InoJm•Account 5.474.943 (38,91B) 148,766 5,584.781 93.838 650 239,506 38,918 14.764 5 475,593 239,506 283.838 148 756 5 570,017 Othor recognlged Bal•nce gainsl at 6 Aprll Ineom• EXpendItre Trnnsfers 00558$) 2024 Balanc• at 6 Aprfl 2023 Capital Account Inc4)meAr£ounl 5,236,843 650 178,4831 314.583 5,474,943 650 236,789 236,789 315,272 315,272 5,239.493 314.583 6.475 593 All funds are TeSt11r9 12 R¢lot•d party tran•acllon* Ort UK Internatlonal Emm8nuellts GunsbourLpKasavi 8 Irust¢o of The Hurnanitarian Twust, also a committee member of ort UK InteTn3lions1, During the year dc¢natlons totalng £20,CKMJ were to Ort UK Internaltonal 12024 £Nill. At the bdancg sheet date tha anounl due toifrom Ort UK Int6mallonal was £Nil121724-. £NitJ. Al th8 balance Sh0 dat8 the amount due loifrom Ort UK Inlèmational vms £Nil {2024- £Nill. P8ge 14