Doeuslgn Envek)pe ID.. OEIS1071-E1C9-4171-B827-FQAC605AC82D THE CARROLL-MARX CHARITABLE FOLTrIDATtON ANNUAL REPORT AND TRUSTEE'S FINANCIAL STATEMENTS R THE YEAR ENDED 31ST DECEfwiBER 2023 REGISTEIIED CHARITYNUMBER.. 212605
Docuslgn Envdope ID.. gE151071-E1CU171-8827-FOAC605AC82D INDEX TRUST INFORMATION REPORT OF THE TRusfEE REPORT OF THE EXANllNER STATEMENTS OF FINANCIAL ACTIVITIES BALANCE SHEET NOTBS TO THE FtNANCIAL STATEMENrs APPENDIX. SCHEDULE OF INVESTMENTS AND INCOME RECETVED
Docusign Erwelope ID, 9E15t071-E1Cg-4171-B827.FOAC605AC82D THE CARROLL.MARX CHAIUTABLE FOUNDATION TRUSTINFORMATtON Th¢ Trustee of tlie Fund wlio seNed during the y¢ar is as follows.. Sequeiit ffjJ.K.) Limited Registered Office- l Kitig Williain Street London EC4N 7AF DireGtor5'. A J HPenney S SteVelOn E Bi'llwei. M Luelhi Inde endent Bxamin¢r G M Ni¢oll¢, fvLEng, CA, FCCA BRllker5 Barclays Wealth l Ll)uiEJiill Place, E6th Floor C.attaiy Warf Loado E145HP Investnient Broke]t BalayS Wealtli 155 St.Vincet)t StIEet Glasgow C2 5NN
Docusign Envelope ID.. 9E16107t-E1C94171-8827-FOAC605AC82D THE CARROLL-MARX cFLTABLE FOUNDA TtON REPORT OF THE IRUSTEE FOR THE YEAR ENDED 3 1ST DECEMBER 2023 The Tj'uslet pjtsents lierewith the pol.1 and fillancial stateinents for Tlje cwroll.marx Cliaritable Fouiidatioii for the year ended 31st December 2023. Tlie financial stateineijts have been prepaitd in a¢¢oi.dan¢e witli tlie accoiinting policits set out in note I to the accounts and comply with the cli*'ity's trust deed. the Cbarities Act 2011 and A¢coiinting and Repoiting by Cliariti¢s.' Ststeiment of Recoinincnded Practice applicable to chai'ities prepai.iiig IlieTr accounts Én a¢¢ordart¢e wttkn the Finalleial Repoitln8 Standaiyl applicabl¢ in tlie UK and Repub15¢ of Ii'eland (FRS 1021 published in October 2019. Status and ob'ects of the Chayi 71ie Can[I-mrX Cliaritable Foulldation is a Settl¢inei)t Twst goveined by tlie Trust deed dated 4tli Febriiary 1960. The niist is a Rtgisiered Charity, Numbei. 212605. The Trtist pibvidES doTratlOn5 for siicli clia)'itable purposes in aY pait of the world at such time or times and in Si11 Iall[ler as the Trustce shall, in tlieir absoltite discretiott, thitdc fjt. The Trtsstees eonfii'm tliat they have had due r¢gard to the guidance issued by tlie Chai'ity Coillniission on piiblic benefit- 'Public beilefit: repJrling IPB3)" Tlie nttme of tl?e Tiustce wlTro sek'ved diii'ing tlie year is set Ollt on Page l. Review of the ear Dui'iiig thc ycar, actual cliaritahle donalTons totalling £20.000 were made. At year-end, die Trust l)eld ]]et assets of £1.143,767. Inveshment ob-ectives The Ellvestjnellt objecttve is to obtatn capital groivth by the way of non-taxable appi'eeiatioji and to genei?te incomc for chai'itable dnithtions. Tlje Ittum (Jii iiivestmeTrts continues to plVEde tliese Iesoui'ces. ks fa¢ed b th¢ Chai. Tlie Trnstee recogiiises t]ie volatillty of tlie stack marf(et. The investsnent lield is tohsidered 'inodet2te I'isk. aiid is liiglily Tegarded. Statetnent of Ti'ustee Res onsibilities Tl)e Tjustee is required to prware [alIcial statements for each fEnancial year whi¢li give a tili¢ and fair view of tlie state of affairs of the Til1 at)d of the suiplus oi. defjtit of tlie TnE5t for tha¢ period. In PiEpariDg those financial 5tatenients, die Trustee is reqiiired to... select SLii(able aceountllig p)licies and tlien apply theni consEstently' ob5erv¢ the Inethods pi'inciples of the &rtieS SORP; rnake judge4nents and esÉilliates that 'e reasonable and piud¢nt' stale wliethei. appllcable accouiiting staiidai'ds have been followed subject to aY material depaitUiE8 disclosed and explained iii the finaiicial statenients. &id prepave tlie fiiiatieial statements on a goijig coiiccin blS Unless it is inappropri2tt to presumc tliat the fi'ust will continiie in tlie near flitti.
[k)CU9n Envelope ID.. 9E151071-E1C94171-B827-FOAC605AC82D THE CARROLL-MARX CHARfTABLE FOUNDATION REPORT OF THE TRUSTEEFOR THE YEIiR ENDED 31ST DECEMBER 2023- eoiitillued. R¢seYves Poli¢ The Trustee aims to maintain Stic[cAt i'e5eives to eable the Chai'ity to sustaill its charitable donation ctivity at tlie current level and. if possible, to incre¢ it. The Triistee is responsible for keeping proper accounting records whi¢h disclose with reasonable a¢cura¢y at any tittie the fillaiieial positioii of the Trusi #txE to ellable colpIla¢t with tlie Cliarities Aet 2011. Ibe Chai'ity {Accouiits aiid Reports) Regulations 2008 &nd the provisions of tlie trusÉ decd. The Trustee És also responsible foi. safeguarding the assets of tlie Ti'ust and lience for taki£ reaso]ble steps foi. tlie prevelltloll id detection of fyaud, tYJ1. and non-compliance witl) laiv or Yeglllations. Sequeiit {lJ.K.) Limited l King Willi&m Stt'eet London EC4N 7AF Telephone.. 2039 668 591
Do(usign Envelope ID.. 9E161071-EIC9-4171-&827-FOAC605ACW2 THE CARROLL-MARX CHARITABLE FOUNDATION INDL,PLNL)LN"I' LXAMLNLK'S IiLFOK'r TO TJIB TRUSTEE OF THE CARROLL-MARX CHARITABLE FOUNDA TION I reNNt lo the Ti'ustees on my examination of the a¢wunts of the Carm]l-Ma Cl)aritable Foundatio {"the Foundatiott") for the year emded 31 December 2023. Res onsibilEties and Basis of Re rt As tlie Trustee of tlie Foundatioii you are iE$ponsible foi the pieparation of the aecounts iii a¢covdan¢e wktli tlie requiYeinet)Is of the Cliai'ities Act 2011 r'ihe A¢t"l. l JfPOLt in ir5pect of Eny examiiiation of tlie Foundatiotk's accounts ¢ari'ied out under Section 145 trf the Act and, iii caijyillg out Èny exni]latiOn, I have followed &ll tlje applicable Directiotls 8iYen by tlie Charity Coinlliission linder se¢tion 145(51(b) of th¢ Act. lllde dentEx%unirter's Statement I have coinpleted niy exarnination. I coiifirji) that no m&tei'ial n]attei's have coine to niy attelltioTr i connectioii with the ex1]inatiOn i¥hich gives me eause to believe. in any iJi&terial Yespect tEiat.' tlie a¢couiiting I'e¢ords iver¢ iiot kept in a¢¢ordaii¢¢ with se¢tion 130 of th¢ Act. oi. tlie a¢collnl$ did not ac¢ord with the allnting re¢oiYf$- oi. tlie accoiints did not colliply with tlie applicablc rcquirekncnts conceinino the foiTh and content of accounts set OETI in the Ch3Tjties (Acwiints and Ileijorts) Regulatioiis 2008 otlier thall any reqiiireEnent tltsat tlie aecouiits give a 'tiiie and fair, view, which i$ iiot a Énatt¢r ¢onsid¢iEd as pat't of an independeiit examination. I have no concerns luid hav¢ coine across llo otjier Jllatters in connectioll Wltli the exatnination to which att¢ntioJi shoiild be drawn in tliis Jrport Én order to enable a piDp¢ ulld¢r5taiiding of tlie accoiints to be reached. G M Nicolle, llg, CA. FCCA Indeent Exaininei. CKosgways C¢nti'e, Braye Koad Vale, Guemsey, GY3 SPH Dale.. 11 OLlibL. IQLY
Docwlgn Envdope ID.. 9E151071-EIC94171.8827-FQAC605AC82D THE CARROLL-MARX CHARtTABLE FOUNDATION STATEMENT OF FtNANCIAL ACT[VIS {In¢otyoiatino tlie Incon)e and Expenditure account) for tl)e yeai. ended 31st Deceniber 2023 Note 2023 2022 Iiieome Fmm: Income from Iiivesttllents Baiik inte]rst Otlier Encome 31,869 588 229 30,644 40 Total lllcoine 32,686 30,684 ExpendEtu oil.. Expendit(iiY on Cliaritable A¢tivity Govei'iianee costs (20,000) (24,6801 19,519 Total Expenditure Net g&iiVlloss) on investinentS 118970 Net Moyeinent in Funds 51,730 1132,485) Balances brought fOr'd at 1st Jalluary 1,092 037 1224 522 Balaajces caii'ied fonvayd at 3 1st December £1 143 767 £109?. 037 The notes on pages 7- 1 I foim part of thes¢ financial statejnellts.
Datusign Envelope ID.. gE151071-E1Cg-4171-B827-FOAC6U5AC820 TrTE CARROLL-MARX CHARITABLE FOUNDATION BALANCE SHEET as at 31stDeceillber 2023 Note 2023 2022 Fixed Assets IDvestm¢ttts 1,073.776 1,015,465 Curi'ent Aets Cash at bad( and in Iiand 77,943 83,015 Current Liibilities An)ounts falling de withiii one ye8r Net CuYi'¢nt Assets 69,991 76.572 Net A55ets £1 143 767 £1,092.037 Funds.. Unr¢stTl¢ted Funds.. Capital Fund 940,801 882,916 Inc(>ihe FuELd 202,966 209 121 £1,143,767 £1.092.037 Tlie finall¢Eal statejiieiits wei'e approved by the Truste4 on nd were signed for and oll belialf of.. Sequeijt (U.K.) Ltmited Authorised Sign31ories Tlie ikotes an pages 7 1 I forni part of tliese fjllaiicial stateiiients.
D¢)ws10rt Envelope ID.. 9E15f071.E1C9-4171-B627-FOAC605AC82D THE CARROLL-MARX CHARITABLE FOUNDATION NOTES TO THE F[NANcL STATEMENTS For ilie year ended 31st De¢ember 2023 I. PRINCIPAL ACCOUNTING POLlCtES Tlie followiiig accounting policies have been 8pplied consistently deaLg witli iteitts which are collsidei'ed niaterial ill relation to the Trnst's fithaii¢ial statements'.- Ateourttin Coiivuitioij The accoiints have been pirpared linder tlie Iiistoi'i¢al cost convention with items recognised at cost oi. tsinsa¢tiott valiie Ejnless otlierwise stated itt tlie r¢l¢vant iiole(s) to these accounts. Tlie fJJJancial SIatelPt& have been pjrpared in accordance with the Statement of Recommended Pra¢ti¢¢.' AccoltIng and Repoiting by Cliai'ities preparing accounts accordance with dje F2112ntial Rcpoi'ting Siandail applicahle irt Ihc IJK and tlic Rcpublic of irelalld IFRS 102) issued in Octobei. 2019 ("tlie Cliaritie5 SORP {FRSI02)"l and Tlie aJai"ities Act 2011. The CaiYoll.Maix Cliai'itable Foundation meets tlie definill0 of a public benefjt entity undei. FRS 102. Coill Coocern In the opinion of the Trustee tlie foundatjoti is able to settle all its obligations &$ tljey fall due. and to me¢t its ¢haritable objective5 for tjie foreseeable futura AoLvrdingly) tlie aceouiils liave beeii prep&iEd oji tlic basis of a going coiicein. Bastc fin8neial iJstruments Th¢ tiust oiily enters ijito basic fin&llcial in5tiwm¢n¢ trgnSitcliuns Éliai i'esuli iji the roliton of fiiiattcÉal assets and liabilities like ts'ade ld other debtoi's and creditors, and loaiis frojii or to banks and ielated paities. Debt Ill8truJi)ents (oth. Iliat) those wholly iepayal)le tsr reccivahlc within onc ycar), includFng loans and thÈlicr dcbtoi3 gnd cycditois, arc initially incasured at preseiit value of the filre casli flows Ind subsequerttly at alortised cost usiijg the effective inteTest inetliod. Debt ill5tiuments t113¢ are payable oi. receivabl¢ witliin one ye*., typically ti?de debtors aiid CiEditoi's. are measured. initially and subseqEiently, at tSLe undi5COUDted amuiinl uf tiie Gash ur DleY consideralion, expected to be paid. Investmejils lllvesbll7tS are a form of basic finan¢ial instrument. Fixed asset investments aiE iniLi&lly recognised aÉ theit. traiisactioii value aiid aiE 5ub5¢quenlly Inedsuved al their fail. value {tTriarketvaluel as at the balallee sheet date. 7lie Statement of Financial Actiyities includes the net gains aild losses ai'ising oll ievaluatioTr aDd disposals tkniDuglioiit tlie year. Quoted stocks alld shayes are ijirliided in die BalMtL¢¢ Sheet at th¢ ciiii'et)t in2a.ket value qiiottd by tlie investJn¢nt analyst, excliiding dividends. Othei. investhneiits are ijicluded at tlie tllJ5tee's best estiiijate of In41'k¢t value. Citditors Creditors ale amounts owed by th¢ ti'ust. Th¢y ar¢ mea5vred at tlie an]ouDt that the tsiist expeds to liave to pay to settle the debt.
Docusign Envdope ID.. 9E151071-EIC9-4171-BB27-FOAC605ACB2D THE CARROLL.MARX CHARITABLE FOUNDATION NOTES TO THB FINANCLIL STATEMENTS- colltd. For the year ended 3 1st Deceinbei" 2023 Investinei)l illcoine tnvestjnent inwiiie is included on a receipts ba5ES. Inteilst lFLterest is Included on a I'eceipts basi5. enses Exp¢iise5 are itjcluded oil an aecrllals basis.
DO([gn Envdopa ID.. 9E151071-E1C9-4171.B827-FOAC605AC82D THE CARROLL-MARX CHARITABLEFOUNDATION NOTES TO THE FINANCIAL STATEMENFS- contd. For tlie ye&i' ¢nd¢d 31st Deceinbei 2023 2. ANALYSIS OF GOVBRNANCE COSTS 2023 2022 Trustee's Fees (including adn)inistixtionl Ivesti}entManag¢meIll Fee5 Exajninei s Fees Bank ¢bgeS 14,967 3,120 3,870 14,389 3,130 2,000 £19519 3. INvEsTNTs 2023 2022 Market Value 1st Jaiiuary Disposa15 Net gainl{lossl OL investtttents 1,015,405 (2.6941 1,135,987 (1,552) 118970 Mavket Vale at 3 1st Deceniber £1073 776 £1015 405 Net 8ainl{lossl on investments comprises.. UnvealÉsed 8aitE (loss) oll inve51nieiits Realised gain 011 investnients 60,673 312 (119,2021 232 118970 BREAKDOWN OF INVESTMEKFS 2023 2022 Cost Mai'ket Value Cost Market Value Oi'dinaiy shal'es {At fail. valEle tliroiigh tncoine and Expeiiditt]Ir) 911,509 1.073,776 913,870 1.015,465 £911,509 £1,073,776 £913 870 £1.015 465
Docusign Envelop8 ID.. gE151071-E1c94171-8827-FOAC605AC82D THB CARR LL- LE FOUNDA TtON NOTES TO TFtE FRNANCIAL STATENTs- contd. For tlie year ended 315t December 2023 INVESTMENTS WHtCH ACCOUNT foR MORE THAN 5Yo OF THE PORTFOLTO 2Q23 2022 Cost Mai'ket Value Cost Mayket Value Barclays Cliarity Distributioji GBP 911,509 1,073,776 913.870 1.015,465 Mai'kel values are based on urtadjust¢d quoted prices in all active niarket- Level l in the fail. value liieixrchy. 4. TNVESTMENTRtSK The Inain forjn of risk faced by th¢ chaiity is that of volatility in equity markets aiid investinent Jnarkets due to wider ecollojnic eoJiditii)rts, volatility in yield and thc attitude of the tiustee to investinent risk. I'lie trust is relianl on dividelld yi¢ld in part to fallet its work. liowcvcr, as investiijcnts arc licld itt stcrltng, the trust is not rK)Sed to exGhai)ge ratc risk. The trust maiiages investinent risk by retaining ali ittveslDient ii)ai)aRer and uperaiiiig an investinent policy. The trust does not Inake use of derivatives Jnd siinilar ¢oniplex finan¢ial illsti'utnents as tlie tsustees view is tliat tnvesttnIts ale ljeld for their long¢i' le yield total i'ettiin at]d that any volatility over a long tell period is usually Corireted. 2023 2Q22 S. CREDITORS Iii¢ome= Sequent {U.K.) LMited.- iidministration fees Collet)ette Jones Limited.. Bxaminei3 fe¢s Otlier crcditors Capital.. BaYGlays Management Fee 569 3,000 3,600 80 2,000 3,600 783 763 Total Credito 10
Doc81gn Envelope ID." 9E151071_E1C4171-B827-F0AC605ACs2O THE CARROLL-MARX CHARITABiE FOUNDA TION NOTES TO THE FINANCIAL STA TEMENTS- contd. For tlie ye. ended 3 1st December 2023 6. FUNDS 2023 2022 Ca Bal&nce brtsuglit foJw0rd Nct gain oll sale of investinents DiffeiEnce on i'evaluatio Bank ijiteirst Expenses 882,916 332 60,673 1.004,994 232 (119202) 22 £940 801 £882916 Balance cai'ried foiward Income Balance biDught forword IncoJJie Expei)ses Donatioiis 20g,121 32,686 (18,8411 219.528 30,662 (16.389) 24,68Q Jaalatjce carried fotivard £202,966 £209.121 7. SCHEDULE OF DONATIONS 2023 2022 tNCONLE ACC015Nr The Holocaust Edu¢*tional TKii$t- 21.08.23113.09.22 Woi'ld Jtwisli Reli¢f- 16.Q3.23,11.04.23 103.03.22 Royal Hojticiillural Soc&ety- 11.10.22 la,OOD 10,000 10,000 8,000 4,680 £20.000 £24 680 8. TRANSAcfIoNS WITH RELATED PARTIES For the y¢ar ended 3 1 December 2021, amollnls totalling £14.967 {2022.. £14,389) were iiivoiced by Sequent (U.K.) Limited for the provision of Trustee and Adminrstra¢ion services. Ainounts totalling £569 (2022- £80) were outstanding at the year-end.
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