H M Sassoon Charitable Trust Dated 5 December 1967 (Charity Commi55ion No. 254431) Accounts for the year ended 5 April 2022 Mercer Trustees
H M Sassoon Charitable Trust Dated 5 December 1967 Trustees, Annual Report for the year ended 5 April 2022 Settlor: Hugh Meyer Sassoon Name of the Charity: H M Sassoon Charitable Trust. Governing Document: The principal governing document Is a Settlement dated 5 December 1967. The Trust is a private charitable trust controlled by its trustees. Trustees: James Meyer Sassoon Sarah Louise von Halle Adrian David Sassoon The power of appointing new trustees was vested in Hugh Meyer Sassoon, during his lifetime. Hugh Meyer Sassoon died on 19 April 2020 and the power is now vested in the trustees. If new or additional trustees are appointed, they will be encouraged to receive appropriate training depending on their qualifications and experience. Principal Office address: 14 Rutland Gate London SW7 IBB Accountants.. Mercer & Hole Trustee5 Limited 21 Lombard Street London EC3V 9AH Bankers: Coutts & Co 440 Strand London WC2R OQS Investment Managers: Rathbone Investment Management Limited 28 St Andrew Square, Edinburgh EH2 IAF Independent examiner: Steve Robinson Mercer & Hole LLP 21 Lombard Street London EC3V 9AH Assets settled: Hugh Meyer Sassoon died on 19 April 2020 and the charity is a beneficiary of his estate. In the year to 5 April 2022 capital of £23,826 was transferred to the charity. On 25 April 2022 a further transfer from the estate of £3,818,533.00 was received.
H M Sassoon Charitable Trust Dated 5 December 1967 Trustees, Annual Report for the year ended 5 April 2022 Icontinuedl The trustees present their annual report and financial Statements of the charity for the year ended S April 2022. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. Objectives and Pollcies: The object of the charity is to pay the capital or income to such charities or for such charitable purposes as the trustees in their absolute discretion think fit. At the end of the trust period the trust funds are to be paid to such charities or for such charitable purposes as the trustees shall determine. Achievements and Performance: The trustees have exercised their discretion with regard to the donations made in the year, supporting UK charities concerned with elderly, special needs, children's and medical care, and cultural issues. Donations totaling £51,515.0012021'. £36,100) were made to various charities and charitable organisation5 during the year. Publlc Benefit: The trustees have considered the Charity Commission's guidance on public benefit and in accordance with that guidance they review the activities of the organisations to which they make donations to satisfy themselves that those activities meet the principles of public benefit laid down by the Commission. Flnancial revlew: The f1nancial position of the Trust on 5 April 2022 is disclosed in the Statement of Financial Activities and Balance Sheet on pages 5 and 6. Reserves at the year end were £316,725.0412021.. £290,591). Investment Policy: The trustees have wide powers of investment. The investment objective is to generate the optimum amount of income for distribution whilst at the same time investing for growth. The trustees, investment portfolio is managed on a discretionary basis by Rathbone Investment Management. For the year ended 5 April 2022 the trustees were satisfied with the performance of the portfolio. Reserves: It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level to provide sufficient funds to cover management, administration and support costs and, in particular, to cover grants recommended for payments by the trustees. Risk management: The trustees have assessed the major risks to which the tharity is exposed and are satisfied they are not exposed to any significant risks other than fluctuation in the value of their investment portfolio. They have appointed professional investment managers and review the investment performance on a regular basis.
H M Sassoon Charitable Trust Dated 5 December 1967 Trustees, Annual Report for the year ended 5 April 2022 Icontinuedl Statement of the trustees, responsibilitie5 in respect of the accounts: The trustees are responsible for preparing the Trustee5' Annual Report and the financial statements in accordance with of the 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 consistentlv,. observe the methods and principles in the Charities SORP 2019 IFRS1021,' 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 Statement of Recommended Accounting Practice.. Accounting and Reporting by Charities ISORP 20191, UK Accounting Standards, the Charities Act 2011 and 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. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the trust deed. the Charities Act 2011 and the Statement of Recommended Practice- Accounting and Reporting by Charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019. Signed- on behalf of Trustees Dated:
Independent Èxaminerfs report to the Trustees of H M Sa5$00n Charltable Trust I report to the trustees on my examin3tiori of the account ol the H M Sassoon Charitable Trust lor the year ended S April 2022 set out on pages I to 10. Responslbllliles and basls of report As the charity tru5tee5 of the Trust you are responsible for the preparation of the accounts in accordance with the requirÈmÈnts of the Chariiies Acl 2011 1.the Act'l. I report in respect of my examination of the Trusys accounts carried out under section 145 of the 2011 Act and In carrying out my examination I have followed all the appll£able Dlrectlons given by the Charity Commi55ion under Jection 14Jlullbl of the Act. Independent examinerfs 51atement I have completed my ex3mination. l confirm that no material matters have come to my attenilon in connertion wlth the examination giving me Cause to believe that in any rn3tÈrial respect.. ¢ountln8 records were not kept in respett of the Trust a5 required by section 130 of the Art.. or 2. the a¢¢ounts do not accord with those COrds.. or 3. the accounts do not comply with the appllcable requirements concernin8 the form and conlent of atcounts set out in the Charities (Accounts and Reports) ReEul3tions 2008 othÈr than any requlrement that the 3CCQUntS 8nie a 'true and lèir view which is not a rnatter considered as part of an Independent exkmlnation. I have no concerns and have come across no other matters in tonnection with the ex4mlnation to which attention should be drawn In this Port In order to enable a proper understanding of the tcount5 to be reached. stqned.. Steve Robinson FCA Merr & Hole LLP 21 Lomb3rd Street London EC3V 9AH Date..
H M Sassoon Charitable Trust Dated 5 December 1967 Statement of Financial Activities for the year ended 5 Aprll 2022 2022 Unrestrlcted 2021 UnrestrictÈd Notes Funds Funds In¢ome and endowments Investment income Income from Estate of Hugh Meyer Sassoon Endowment received from Estate of Hugh Meyer Sasson Bank deposit interest Igrossl Repayrnent 5uppletDent Tax recoverable Totsl income 13.639.67 16,174.00 23,826.00 1.23 8.13 1,642.99 55,292.02 12,740 27,500 40,242 Expenditure on Cost of raising funds Investment rDanagerDent costs 871.04 56,795.00 57,666.04 739 40,090 40,829 Total expenditure 12,374.021 15871 Net gainslllossesl on invesiments Net in¢omelexpenditure 28,508.00 26,133.98 52,336 51,749 Reconciliation ot fL4nd5 Total funds brought forward Totsl funds carried forward 290,591.06 316,72S.04 238,842 290,591
H M Sassoon Charitable Trust Dated 5 December 1967 Balance Sheet 5 April 2022 2022 2021 Notes Fixed assets Listed investments at market value 305,864.00 277,356 Current assets Balance wtth investment managers B31ante at bank Tax recoverable 3,752.45 10.737.42 1,642.99 16,132.86 3,569 7,826 6,250 17,645 Atnount5 falling due within one year AccountÈnts' charges Independent examination fees Investment management charges 3.840.00 1,200.00 231.82 4,200 210 5,271.82 4,410 Net curreni assets 10,861.04 316,725.04 13,235 290,591 Net assets The funds of the charity.. Unrestricted Funds 316,725.04 290,591 Approved by thÈ trustees on.................... and signed on their behalf bv ITrusreel.
H M Sassoon Charitable Trust Dated 5 December 1967
Notes to the Accounts
for the year ended 5 April 2022
1. Accounting policies
a) Basis of preparation
b) Fund accounting
Income
d) Investments
e) Gains/(losses) on investments
7
H M Sassoon Charitable Trust Dated 5 December 1967 Notes to the Accounts for the year ended 5 Aprll 2022 fl Chorltuble octlvltles Costs of charitable attivities intlude grants made, governance ¢osrs and administratlon cost in the pursuit of the charitable objects of the Trust. Donations pèyable are 3ccounted for when the trustee5 have accepted a legal or moral obligation to make the grant. gl Otherexpendlture Investment management costs relate to expenditure incurred in the rnanagernent of the charity's asset5. Governance costs are costs associated with the governance 3rr3ngements of the charity which relate to the general running of the charity and compliance with the constitutional and statutory requirements. Flxed asset Investments 2022 2021 Market value at 6 April 2021 Addition5 DisP05a15 Net realisÈd investment gains/llossesl Net unre31ised investment gainslllossesl Market value at 5 April 2022 277,356.00 225,020 28.508.00 305,864.00 52,336 277,356 Historical cost as at 5 April 2022 212,¢)48.46 212,048 Investmeni in¢ome Investrnent income of £13,639.67 wa5 received during the year12021.. £12,740>. Estate income The charity has an interest in the Estate of Hugh Meyer Sassoon. During the ye8r to S April 2022 the trustees received income of £16,174.00. This was net of estate income tax and the trustees wlll be able to apply for 3 refund in due course. Donations received No donations were received during the year. Charltable actlvltles 2022 2021 Donations Inote 101 Independent examinatlon fees Accountant's charges 51,515.00 1,2(Kl.00 4.080.00 56.795.00 36,100 3,900 40,000 Tax rewverable 2022 2021 Tax recoverable 1.642.99 6,250 Related partles During the year there were no related party transactions12021.. £nill.
H M Sassoon Charitable Trust Dated 5 December 1967 Notes to the Accounts for the year ended 5 Aprll 2022 Trustees remuneratlon and expenses No trustees were remunerated for their work on behalf of the charity and they have not incurred any expenses during the year.
H M Sassoon Charitable Trust Dated 5 December 1967 Notes to the Accounts for the year ended 5 April 2022 10. Grants 2022 2021 Age Concern Crediton AbbeyField Great Missenden & District Society Limited Back up trust British Museum Cancer Research UK Cri515 UK 2,000 1,000. 1,500.IJ) 2,250.(KI 500.00 1,000 Grange Park Opera Horatio's Garden 20,000.(KI 1,250 Hospice care Jame's Place Charity Jewish Car 20.000.(KI loo. 2,000 Just Giving Lawrence Home Nursing Tearn Ltd Leonard Cheshire Disability Macrnillan Cancer Support Maggie Keswick Jencks Cancer Carin8 Centres Trust National Gallery Opening Doors London Oxfam 250.00 500 1,000 loo 500.00 840.( 1,250 75.th) Prism The Gift Fund Queen Elizabeth Scho18rships Trust Ltd Refuge Restart Africa Royal British Legion Rochester Cathedral Trust St Hugh's College The Chelsea Ph¥si¢ fjarden The Friend5 of Oct3via The Not Forgotten A550Ci3tion The Silver Line Westminster Synagogue 2,500 I,000.) 1,250 1,250 1,000 2.000.Th) 500.th) 5,000 5,000 1,000 I,000.( 10,000 36,100 51,515.(Kl l. Disabled 2. Children 3. Medital 2. Care & Support 3. Art & Culture 4. Others 500.00 750.00 24,175.IM) 25,090.00 1,000.00 51,515.(N) 10