**Sir Jack Lyons Charitable Trust** **Report and Financial Statements Year Ended 5[th] April 2024** Charity Number : 212148 ## **THE SIR JACK LYONS CHARITABLE TRUST** ## **INDEX TO FINANCIAL ACCOUNTS** |**Contents**|**Pages**| |---|---| |Report of the Trustees|1 – 4| |Independent Examiner’s Report|5| |Statement of Financial Activities|6| |Balance Sheet|7| |Statement of Accounting Policies|8 – 9| |Notes to the Accounts|10 – 16| ## **THE SIR JACK LYONS CHARITABLE TRUST** ## **REPORT OF THE TRUSTEES** |Registered Charity Number|212148| |---|---| |Address|Gresham House| ||5 – 7 St Pauls Street| ||Leeds| ||LS1 2JG| |Trustees|D S Lyons Esq – Honorary Secretary| ||M J Friedman Esq| ||Mrs B Lyons-Newman| ||S M Jackson Esq| ||F W Beadle Esq| |Property Agents|Welbeck Asset Management| ||7-10 Beaumont Mews| ||London| ||W1G 6EB| ||Robert Irving Burns Limited| ||23/24 Margaret Street| ||London| ||W1W 8LF| |Investment Advisors|Sarasin & Partners| ||Juxon House| ||100 St. Paul’s Churchyard| ||London| ||EC4M 8BU| |Solicitors|Bevan Brittan| ||Toronto Square 7thFloor| ||Leeds| ||LS1 2HJ| Page 1 ## **THE SIR JACK LYONS CHARITABLE TRUST** ## **REPORT OF THE TRUSTEES – (continued)** The trustees present their annual report and financial statements of the charity for the year ended 5[th] April 2024. The financial statements have been prepared in accordance with the accounting policies set out on pages 8 and 9 of the accounts and comply with the charity’s trust deed, the Charities Act 2011 and the Charities SORP (FRS102) - Accounting and Reporting by Charities: Statement of recommended Practice available to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **Objectives and Activities** The Trust is governed by a Deed dated 16[th] December 1960, as supplemented by a Charity Commission Scheme dated 14[th] March 2001 as amended by resolution dated 7[th] June 2005. It was created so that the Trustees can apply the assets of the fund for such charitable purposes, whether in the United Kingdom or elsewhere, as the Trustees shall in their unfettered discretion from time to time determine, including the promotion of performing arts and education, and humanitarian causes, particularly in Israel or for Israelis. This is done through the gifting of donations to suitable organisations or charities. ## **Appointment of Trustees** The Trustees as a body can appoint new Trustees. In appointing new Trustees, candidates are considered from two bodies, being the Lyons family and relevant professionals. Consideration is given to the candidates’ relevant expertise and background. At any time, there should be no less than three and no more than seven Trustees. Retiring Trustees must notify the remaining Trustees of their retirement in writing. ## **Achievements and Performance** The Trust’s work is reliant on income and investment returns from its freehold property and from the investment portfolio, which consists of holdings in the Sarasin Endowments Fund, a specialist investment for non-profit making organisations, managed by Sarasin & Partners. During the year, donations of £156,247 (2023: £176,336) were made in support of the charity’s objectives. These included donations to Cal Performances (£16,254), Jerusalem Academy of Music and Dance (£23,776), Jerusalem Foundation Rachel Karwan Child Development Centre (£32,250) and Wigmore Hall Trust (£18,000) as detailed in note 15 to the accounts. Sufficient funds are available to the charity to enable it to meet its current obligations. ## **Investment Policy** The Trust Fund is invested to provide sufficient returns to further the objects of the Trust whilst maintaining the permanent endowment. A schedule of investments is given in note 13 to the accounts. The Trust has a permanent endowment which cannot be distributed. Accounts prior to the year ended 5[th] April 2005 did not reflect this, in part because the level of this endowment had never been agreed. Following extensive discussions with the Charity Commission, it was agreed that various shares with a market value of £196,275 at 5[th] April 2005 should be so earmarked. The market value of the permanent endowment at 5[th] April 2024 was £469,167. Only the income of the permanent endowment is earmarked for potential donations, leaving the capital of the permanent endowment untouched. Page 2 ## **THE SIR JACK LYONS CHARITABLE TRUST** ## **REPORT OF THE TRUSTEES – (continued)** Our investment advisors (Sarasin and Partners LLP) are instructed to invest to maximise the total return on the general and permanent endowment fund within the constraints of a medium risk investment portfolio. ## **Financial Review** At 5[th] April 2024 the charity had £405,894 (2023: £371,347) in its Permanent Endowment, £2,804,514 (2023: £2,807,179) in the General Fund and £145,160 (2023: £142,221) in the Designated Fund. During the year there was a net increase in funds of £34,821 (2023: £317,429 decrease). This movement is primarily as a result of realised and unrealised gains on the quoted investments. The charity had cash reserves held at 5[th] April 2024 amounting to £47,328 (2023: £79,876). The aim is to give flexibility to allow Trustees to make proposed charitable donations and provide charitable assistance as and when it is needed rather than to build up unspent funds. The cash reserves of the Trust are kept under regular review by the Trustees to ensure that they are at all times sufficient to enable liabilities to be met and to enable appropriate donations to be made to further the objects of the Trust. A detailed schedule of movements in the Designated Fund is given in note 12 to the accounts. ## **Risk Management** The Trustees examine the principal risks to which the Trust is exposed and monitor and control those risks to mitigate any impact. The principal risk faced by the Trust lies in the performance of investments and furthermore, there is an exchange rate risk attached to making donations to charities in foreign currencies. There is also the generic risk of making ineffective donations. The main risk to the Trust from financial investments lies in the combination of uncertain investment markets and volatility in yield. Liquidity risk is anticipated to be low as units in the Sarasin Endowments Fund are publicly traded in markets with good liquidity and high trading volumes. The Trust manages these investment risks by retaining expert advisors and monitoring their performance, and operating an investment policy that provides for a high degree of diversification of holdings within investment asset classes that are quoted on recognised stock exchanges. The use of a specialised investment for non-profit making organisations reduces the risk of investment volatility. The exchange rate risk arising from the Trust having a significant amount of regular charitable donations in foreign currency (especially US dollars) is mitigated by its investment advisors Sarasin Partners LLP managing a series of future foreign exchange contracts in these currencies. The Trust also benefits from rental income from the property owned at 22 Pembridge Road, London. In order to mitigate risk from potential loss of rent, the property is managed by the professional agents Welbeck Asset Management and Robert Irving Burns Limited. In order to manage resources effectively and ensure that the Trust has the ability in the short and medium terms to meet its charitable obligations, a rolling schedule of potential donations for the next 3 years is kept and regularly reviewed and updated by the Trustees. Non-UK charities which are potential recipients of donations are vetted to verify their status and the use to which funds are put is also monitored. Where practicable this includes face-to-face meetings between a Trustee and key individuals within the recipient organisation. Page 3 **THE SIR JACK LYONS CHARITABLE TRUST** ## **REPORT OF THE TRUSTEES – (continued)** ## **Remuneration Policy** None of the Trustees personally receive any form of remuneration or other benefit in cash or kind from the Trust. The Trustees make up the Trust’s entire key management personnel. ## **Public Benefit** The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit to ensure that all our activities contribute to meeting our charitable objects and deliver public benefit. ## **Responsibilities of the Trustees** The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP 2019 (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees and signed on their behalf by: ………………………………… M J Friedman Esq Trustee 18-Dec-2024 Page 4 ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE SIR JACK LYONS CHARITABLE TRUST** I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2024 which are set out on page 6 to 16. ## **Responsibilities and basis of report** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Neil Baldwin FCCA DChA BHP LLP New Chartford House Centurion Way Cleckheaton West Yorkshire BD19 3QB Date: 18-Dec-2024 Page 5 ## **THE SIR JACK LYONS CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5th APRIL 2024** |**Notes**
**Income and endowments**
Income from Investments
2/3
**Total Income and endowments**
**Expenditure**
Expenditure on raising funds
4
Expenditure on charitable activities
15
Realised foreign currency losses/(gains)
**Total Expenditure**
**Net gains/(losses) on investments**
Unrealised foreign currency gains/(losses)
Net gains/(losses) on investments
6
**Net income/(expenditure)**
Transfers between funds
**Net Movement in Funds**
**Reconciliation of funds**
Fund balances brought forward at 6th April 2023
Fund balances carried forward at 5th April 2024|**Permanent**
**General**
**Designated**
**Total**
**Total**
**Endowment**
**Fund**
**Fund**
**2024**
**2023**
**£**
**£**
**£**
**£**
**£**
13,450
157,599
-
171,049
152,773
13,450
157,599
-
171,049
152,773
146
46,828
-
46,974
47,896
-
17,840
138,407
156,247
176,336
8,046
10,913
-
18,959
(57,723)
8,192
75,581
138,407
222,180
166,509
-
-
-
-
(16)
34,693
51,259
-
85,952
(303,677)
34,693
51,259
-
85,952
(303,693)
39,951
133,277
(138,407)
34,821
(317,429)
(5,404)
(135,942)
141,346
-
-
34,547
(2,665)
2,939
34,821
(317,429)
371,347
2,807,179
142,221
3,320,747
3,638,176
405,894
2,804,514
145,160
3,355,568
3,320,747| |---|---| The notes on pages 10 to 16 form part of these accounts Page 6 ## **THE SIR JACK LYONS CHARITABLE TRUST** ## **BALANCE SHEET AT 5[th] APRIL 2024** |**Notes**
**Fixed Assets**
Investments
6
**Current Assets**
Debtors
8
Cash at bank and in hand
**Liabilities**
Creditors falling due within one year
9
**Net Current Assets**
**Net Assets**
**The funds of the charity**
General fund
10
Permanent endowment
10
Designated fund
10
**Total charity funds**|£
59,491
47,328
106,819
(74,045)|**2024**
£
3,322,794
32,774
3,355,568
2,804,514
405,894
145,160
3,355,568|£
91,184
79,876
171,060
(122,302)|**2023**
£
3,271,989
48,758
3,320,747
2,807,179
371,347
142,221
3,320,747| |---|---|---|---|---| Approved by the Trustees on and signed on their behalf by : M J Friedman Esq Charity number : 212148 18-Dec-2024 The notes on pages 10 to 16 form part of these accounts Page 7 THE SIR JACK LI'ONS CHARITABLE TRUST STATEMENTOF ACCOUNTING POLICIES Basis of Accounting The financial slalements hal'e been prepared under the historical cost con￿ention with items recognised at cost or transaction value unless otherwise stated In the relevant i)otelsl to these accounts. The finai)¢ial staien)eiits have been prepared in a¢¢ordan¢e with the Statement of Recointneiided PTactice'. Accounting and Reporting by Charitle5 preparing their accounts Ill accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP IFRS 102)) issued on 16 July 2014. The trust Constitutes a publi¢ benefit entity as defined by FRS 102. With respect to the next reporting period, 2024-25. the most significant areas of uncertainty that affect the carrying value of assets held by the Trust are the level of investment return and the performance of investment and currency markets Isee the investment policy and risk rt)anagement se¢¢ions of the trustees, annual report for more infomation). The trustees consider that there are no material ullcertainties about the Trust's ability to continue as a going concern. The Trustees have taken advantage of the exemption in Charities SORP {FRS1021 from in¢luding a ¢ash now statement in the financial 5tatement5 on the grounds that the charity is classed as a small charity. Income recognition All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the an)ount of in¢ome ￿¢¢1￿#ble Can be measured reliably. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are Tecognised once the dividend ha5 been declared aiid notification has been received of the dividend due. This is nonnally upon notification by our investment advisor of the dividend yield of the investment portfolio. Fixed Asset Investments Fixed asset investments are initially recognised at their transa¢tion value. They are subsequently measured at their fair value as at the balance sheet date using the closing quoted tnarket price in the case of quoted inN'estnient5. and at PTofes5ioiial valuation in the case of freehold property. The statement of fjnancial activities includes the net gains and losses arising on revaluatloll and diswsals throughout the year. Realised gAins Ios5e5 All gains and losses aTe taken to the Stateinent of Fiiiancial Activities as they arise. Realised gains and Ios5e5 on in￿¢5tm¢llts are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of ihe finan¢ial year. Unrealised gains and losses are calculated as the difference be￿¢ert the fair value at the year end and their carrying value. Realised gains attributable to expenditure on charitable donations is separated and included within total expenditure in the financial slaiemenis. Transactions throughout the year in foreign currencies have been translated at the exchange rate applicable at the date of the transaction. Balances held in foreign currency at the accounting date have been translated using the exchange rate applicable at that date. Page 8 SIRJACK LYONS CHARITABLE TRUST STATEMENT OF ACCOUNTING POLICIES- (continued) Designated Fund The designated fund represents ainount5 Set aside in COllnectlOll Wlth proinises of fiiiancial 5UPPOrt made by the Trustees. As indicated in note 12, nolle of the constituent elenients represent a legally binding obligation. Resources Expended Liabilities are Tecognised a5 expenditure a5 soon a5 there 15 a legal or constructive obligation committing the chaTity to that expenditure. it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses a￿ allocated or appx)rtioned to the applicable expenditure headings. Expen5e5 are analysed between charitsble donatiot15 a5 listed fully in note 15 and management and administration c05t5 as listed fully in note 16. Functional Currency Whilst the charity tnakes donations in foreign currencies. the accounts are presented in sterling, which is considered to be the harity's functioiial curieiicy. Debtors Short terin debtors aTe measured at transactloll price. les5 ally impairmellt. Loaiis receivable are measured initially at fair value. net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Creditors Short term trade creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. FinAneig1 Instruments The charity Ollly has fjnancial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al transaction valiie and subsequently measured ai their settlement valiie. Page 9 TVVF. SIR JAC7￿ I.I'ONS CVVARVTARI.F. TRIIST NOTFS ON Tiif. AC'.I'.01,"NTS FOR TIIF. I'F...IR F.NDf.D S",IPRII. 2024 Sthtement of Finaneial.4etivities for the Comparative Period Permanent Ehdowmenl Gentral Fund Dtsignated Fund Total 2023 Incom¢ and ¢ndowments Incoine I'roiii Inv¢stm¢nts 12,539 140.234 152,773 Total Incom¢ and ¢ndowtM¢nts 12,5)9 14Q.234 152,773 Lipenditurt Expenditure on rai8in8 funds Expenditure on charitable activitie Ilealised fureigR currency IgaiRslllosses 328 47.56% 47.%96 176.3J6 157.72Jl 16J,627 122,2171 lJ5.i061 Total Expenditure 24,771 16J.627 166.509 Net ¥lil]J51llosseyl investment Unr¥alised fLbreign LurrenL}' gainslllos*g1 NLI gainsll1os￿sI on invbstmLmis 134.2531 134.2531 1269,4241 1269,4401 1303.677) 1303,69DI Net intomellexptnditurt 1153,9771 1163,6?71 1317,4291 Transfers beiwe£n funds 134.7561 1109,6911 144,447 et Movement ID bullds 1)4.5%11 126J.6081 1)17.4291 Rtconciliation ol lun(Is Fund balances broLJghi torward at 6th April 2022 405,928 3.070.847 3,638,176 Fund balanLe& ca￿led fuThV￿d al 5th April 2023 371.)47 ?.807,179 14?.221 3.320.747 Pagc 10 THE SIR JACK LYONS CHARITABLE TRUST TrIOTES ON THE ACCOUI%TS FOR THE YEAR ENDED 5" APRIL 2024 Ineome from Investments 2024 2023 Rents r¢¢eiv¢d gro55 QuoiLd siocks and sharLs 136.880 31.705 121,600 29.948 Intere&t un unp&id ￿rearS 1,598 171.049 152.773 Detxiled Property Intome xnd Expenditure Aetoutht 2024 2023 Rents Reeeii'ible 22 P¢iiibi'idg¢ Road. l.ondon Wl I 136,880 121.666 Repairs. refurbishmtnts and sundries 9.947 5,940 3,897 125.1281 5,252 2.751 1,009 4.272 1.200 25.800 Ltltings Ftes Insurance L￿gaI Fcc Valuation l.ees Doubtful Debi IReLeipt)IProvison 11.934 25.800 15.156 106.510 Trlet Rents Reeeivable 121P.621 Expenditure on raising funds 2024 2023 Propert}. rental costs {Noie 31 Manag¢rn¢ni and administration costs (Note 161 7.259 39.715 46.974 15.156 32.739 47.895 Tot*1 Resourtes Expended Total resourc¢s exp¢nded are staled aft¢r charging.. 2024 2023 Independent Examiner's rtmuneration ?.220 2.22U 2.1 2.ICK) Page 11 THE SIR JACK LYONS CHARITABLE TRUST NOTES ON THE ACCOUNTS FOR THE YEAR ENDED S" APRIL 2024 Fixed Asset Investment5 Market Value Freehold Property Quoted Investments Total 6th April 2023 Additions ai cosi Diswstsls ai markLI value Net gain%lilti44e%l M*rket value at 5th April 2024 2.250.000 ,021,989 42,500 177.6471 85.972 1.072.794 3.271.989 42.500 177.6471 %).952 3.322.794 2.250.000 22 Petnbridge Road ivas valued by the Triisttts at £2,250,000 ai 5 April 2024. The valuation takes inio consideraiion prevailing Inark'et conditions and current tenancN agreements. The last professional valuation was £2,250,000 at 5 April 2023 b>. P¢l¢r HotTinan. Prop¢rtTr Consultant. All the investmenis are held to provide income and growth to turther the objeciivts ot'the charit}'. All ouoicd invcsimcnis, valuLd ai £1,072,794 lincluding IhosL w'iihin Ihc pcrmanLni ¢nd0￿M￿n[ of £469.1671 arc Iisild on a rLLognisLd siock LxchangL in Ihi Uniltd Kingdom. The inain risk to the Trust from financial investments lies in Ihe combinaiion of uncertain Inve￿MCnt markeis and volaiili in vield. l.iquidity risk is anticipated to (K lo￿ a% units in th¢ Alplia ('IF are publiclN' lrnded in rnai-kets with good liquiditr. and high IradinE volumLs. The Tru51 tndnages Ihese inve%irnenl ii5ks by reldinin¥ expert ddvi%i)r% dnd tnonili)ring their perri)r￿nCe, dnd uperaling invtslmtnt p)lic}' that provides tor a high degrtt ot-dii'trsificaiion ot'holdings ￿'t[hin inTrtstmtnt asset elasses that are quoted on r¢¢ogiiised 4to¢k eYchang¢s.-I he use of a specialised investrneiit for non-profit tnaking organisalioii% r¢duce5 tli¢ risk of invLsimLni volaiilitj. ThL LxchangL raiL risk arising fTom Iht Trus1 having a signifiLani amouni o(rLgular LhariiablL donaiions in forLign CLJrrenu' (esp￿claI1} US dollarsl is mitigated bN its investinent advisors Sarasin Parthtrs LLP managing a series ot'tuture f{)rel￿n exLhan%e ciintraLt4 in the%e LiirrenLie4. Financial In5trutnents 2024 2023 Financial Assets Gentral Fiind PcrmanLni End0￿'MLnl Fund De%i¥iialed Fund 628.559 471.262 14i.160 1.244.981 679,481 444.762 142.221 1.266.464 GLniral Fiind Peniianenl Endi)M'tneni Fund Desigiialed Fund 74.045 65.368 122.302 73.415 139.413 195.717 Page 12 THE SIRJACK LYONS CHARITABLE TRUST NOTES ON THE ACCOUNTS FOR THE YEARENDED S" APRIL 2024 Debtors 2024 2023 'I'rad¢ debtor5 Prepayments and accrued income 54.875 4.616 59,491 80,524 10.660 91,184 Creditor5 2024 2023 Trade creditors Oih¢r ¢rtditors Accruals and d¢f¢tTed inLonie 58,297 i4.874 2i.8IK) 41,628 122.302 15,748 74,04) 10 Analy5j5 of Net Assets b¢hv¢en Fund5 Permanent Endowment GenerAI Designated Fund Total Funds Fun(1 bxlance5 at ith April 2024 are represented by In￿e%[Ment Assets D¢bti)r% Due to G¢neTal l.und from Pernianent Cash Crcditors 469,167 2,753.700 59,491 65.368 99,927 3,322.794 165.3681 2,095 45.233 47,328 174,045 i,li.i,568 74.0451 2,804.514 405.894 145.160 Permanent Endowment General Designated Fund Total Funds Fun(1 bxlance5 at ith April 2023 are represented by In￿e￿tment Assets D¢bti)r% Due to G¢neTal l.und from Pernianent Cash Crcditors 401,558 2,764.882 91,184 73.415 105,549 3,271.989 91,184 173.4151 43,204 36.672 79,876 122,302 i,320,747 122.3021 2,807.179 )71.347 142.221 I I Perm&nent Endowment The inLonie arising on the P¢rinaiient En(IV￿1n¢nt is ai'ailable fvi. distribution w'ithout r¢blriLtion and this ha5 been transferrtd to the tieneral l.und as retlected in the Statetnent ot l."inancial Activitl¢S. Page 13 THE SIR JACK LYONS CHARITABLE TRUST NOTES ON THE ACCOUNTS FOR THE YEAR ENDED S APRIL 2024 12 Designated Fund 2024 2023 British Friends of The I lebrew University, Japan IlniTr¢rsitv Project Cal Performances1$20,0001 Calgafj. PhilhJtm()niL OrLhe%tra- MDming%ide Mu%iL Bridge PrDgTJm ISIO.0001 Holocaiisl Centr¢ North Jcrusalcm FoLindiL lion IS40.0001 Jeru5al¢tn A¢ad¢rn}' of ￿luSi¢ & l)an¢¢ IEJO.0001 Jti¥ish Music Instiiute Leed% PianiTr Ctsnipelilion Ro)al Acad¢rn}' of Music Rubinstein Iniemaiional Music SocieiTr 1$5,WOI IJKLFI Charitahle Tni%t Wiwnore Hall Trust 5.000 15,832 7.916 4,000 31,664 2J.748 7.500 10.000 10.000 16,042 8.021 4.000 32,084 24.063 7,500 10,000 10.000 4,011 8.ioo 18.000 142.221 8.500 21.000 145.160 The designdled fund is lip i)fatnuunls sel in LunneLliun wilh pri)tni%es ()rrinanLial suppurl tndde bv Ihe Trust fuT th¢ )¢ar tolloi¥ing the balance sheet date. None ot'the constitLJ¢nt ¢lement5 represent legallTr binding obligation5. £5,000 ￿a5 pledged to Britisli Friends of The Hebrew Unip¢￿ltv in support of their Japall Unii'¢rsit>' Proj¢cL 820.000 was pl¢dg¢d to Cal P¢rformanc¢s as part of a niulti->'¢w want in support of Israeli perfornianc¢ artist5. SIO.000 was plLdgLd 10 Calgar¥' Philhamionic OrLhLStra 10 siipport Momingsidt MusiL BridgL piograms. £4.UOO was pl¢dg¢d to I lolocaust Centr¢ Nonh iii support of th¢ learning Programines for stud¢iits and general public. S40.000 plLdgcd 10 JcrusalLm Foundation in suppori ofRachLI Kdrwan Child DivLlopmLni Ccnirc. S30,000 was pledged io Jtrusalem Academv ot'music and Dance to support ￿ariouS projects. £7,500 w85 pledged to j¢￿'15h Music Insiituit in suppori of the Sir Jack and Lady Ljolls Siudtniships. £10,000 pledged io Leeds Piano Compeiiiion in siipport of iht competiiion £10,000 plcdgcd io The Ros'al AcadLm}' of Music in support of music programs. £8,500 ￿a5 pledged to UKLFI C"hariiabl¢ Trust in support ot. legal educaiion prograrnmes. £21.000 was pledg¢d io Wiwnore Hall Trusi to support rtcitals at ihe Hall and costs associated with Isratli artists, pertonnances. Page 14 ## **The Sir Jack Lyons Charitable Trust** ## **Notes on the Accounts for the Year Ended 5th April 2024** ## **13. Investments and Income Receivable - Summary** **----- Start of picture text -----**
Cost or Acquisition Profit/ Gross Investment
Value at Valuation (Loss) on Sale Rent Income
5th April 2024 5th April 2024 of Investments (See Note 2) Received
Investments
General 321,272 603,627 35,857 - 18,781
Permanent Endowment 273,999 469,167 859 - 12,924
-
595,271 1,072,794 36,716 31,705
Freehold Properties
- -
22 Pembridge Road, London W11 320,079 2,250,000 136,880
915,350 3,322,794 36,716 136,880 31,705
**----- End of picture text -----**
The General Fund investments consists of 497,355 Class A Income units in Sarasin's Endowments Fund The Permanent Endowment Fund consists of 386,611 Class A Income units in Sarasin's Endowments Fund Page 15 ## **THE SIR JACK LYONS CHARITABLE TRUST** ## **NOTES ON THE ACCOUNTS FOR THE YEAR ENDED 5[th] APRIL 2024** ## **14 Related Parties** Mr M J Friedman and Mr F W Beadle, who were trustees throughout the year, work for Sagars Accountants Ltd which has been paid £37,260 (2023 - £29,910) for professional services undertaken, relating to the year concerned. Mr S M Jackson, who is a trustee, and works for Bevan Brittan Llp which has been paid £11,934 (2023 - £4,272) for professional services undertaken, relating to the year concerned. None of the Trustees personally receive any form of remuneration or other benefit in cash or kind from the Trust (2023: £nil). No expenses were paid to the trustees in the year (2023: £nil). ## **15 Charitable Donations** |Cal Performances ($20,000)
Designated Fund
Calgary Philharmonic Orchestra - Morningside Music Bridge Program ($10,000)
Designated Fund
Holocaust Center North
Designated Fund
Hebrew University of Jerusalem ($15,000)
Israeli Opera ($20,000)
Jerusalem Foundation - Academy of Music and Dance ($30,000)
Designated Fund
Jerusalem Foundation - Rachel Karwan Child Development Centre ($40,000)
Designated Fund
Jerusalem Foundation - Youth Leadership Program ($7,500)
Jewish Music Institute
Designated Fund
Leeds International Piano Competition
Designated Fund
Royal Academy of Music
Designated Fund
Rubinstein International Music Society ($5,000)
UKLFI Charitable Trust
Designated Fund
Wigmore Hall Trust
Designated Fund|**2024**
**£**
16,254
8,127
4,000
11,888
-
23,776
32,250
5,952
7,500
10,000
10,000
-
8,500
18,000
156,247|**2023**
**£**
16,878
8,439
3,000
12,709
15,718
25,316
33,890
-
7,500
10,000
20,000
4,386
8,500
10,000
176,336| |---|---|---| ## **16 Management and Administration Costs** |Accountancy and administration
Audit
Independent Examination
Investment Management Fees|**2024**
**£**
37,260
-
2,220
235
39,715|**2023**
**£**
29,910
60
2,100
669
32,739| |---|---|---| Page 16