THE G.R.P. CHARITABLE TRUST STATEMENT OF ACCOUNTS FOR THE PERIOD 6 OCTOBER 2023 TO S OCTOBER 2024
THE G.A.P. CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS CONTENTS Page Trustee's Rewjrt Independent Examiner's Report Statement ol Financial Activities Balance Sheet Notes lo the Accounts 7- 11
THE G.A.P. CHARITABLE TRUST TRUSTEE'S REPORT FOR THE PERIOD 6 OCTOBER 2023 TO 5 OCTOBER 2024 Legal and odmlnlstratlve Inform•tlon Con$titullon The G.R.P. Charitable Tnjsl is a registered charity governed by a Settlement Deed dated 18 March 1968. Charity Number.. 255733 Registered OfficelAddress tor Appeals The Administrator One Bank Street, Canary Wharf, London E14 4SG Bankers Union Bancaire Privée IUKI Limited One Bank Street, Canary Wharf, London E14 4SG Investment Manager Canaccord Genuity Wealth Managemgnl 88 Wood Slreel. London EC2V 7QR Independent Examln&r8 Kreslon Reeves- Samanlha Rouse FCCA DChA 37 Sl Margaret's Street. Canletbury. Kenl CT1 2TU Trustee Kleinwort Hambros Trust Company IUKI Limited Directors.. Rachel Iles and George Ryan Oblecls of the charlly The objects ol the charity are to promote arKI support such purp)ses recognised by the law ol England and Wales as charitable as the Iruslee shall from lime lo limg Se11. Grant ni8klng pollcy Donations are decided periodically by Ihe trustee having regard to the wshes ol the Settlor, and unsolicited appea15 are considered as well as causes vknich have already been supported. Only successful applicants are notified ol the tnjstee's decision. Certain charities are SUPPDrted lor more than one year, althoLJgh no commitment 15 usually given lo the recipienls. A range ol general charitable causes is considered. as well as Jewsh charities. There is no facility loi processing applicalions from in¢Jividuals loi linan¢ial supwrt, and these cannot be considered. Appolntment ol trustees and charlty organisatlon The charity is managed and administered by the Corporate Trustee. SG Kleinwort Harnbros Trust Company IUKI Limited, which was appointed under the lems ol the Trust Deed. No fund r&sing is undertaken lo support the work ol the charily.
THE G.A.P. CHARITABLE TRUST TRUSTEE'S REPORT FOR THE PERIOD 6 OCTOBER 2023 TO 5 OCTOBER 2024 Fln8ncl81 revlew and Investment poll¢y The accounts cover all the activities ol the charity during the period. Tots71 incoming resources lotalled £57.086.721£52,981.99 in 20231 none of which were donations received in the lortn of cash. Under the governing document, there arè no restrictions on the charilws rx)wer to invest. Thè overall investment poli¢y is to achieve long term capital growth in real terms, whilst providing a yield at least in line with the UK equity market. No fund raising is undertaken lo supwrt the work ol the charity, but it has the right to accept donations. The Trust is no longer a going concern, in line vAth the disclosure ol'basis other than going concern. being applied. A further explanation regarding the basis other than going concern wll be provided in the accounting policies. Related partles The charity does not have a relationship wth any other charity or organisation. Remuneration ot £23,664.(2O23: £23,304.00) including VAT was paKI to SG Kleinwort Hambros Trust Company IUKI Limited lor ils services as Corporate Trustee. Revlow ol tho actlvltles and futuro de¥el¢pment$ During the period, the Iruslee made donalions lolalling £454,333.0012023.. £474.333.001. The large81 donation was £384,333.00 lo the Jerusalem Foundation. The trustee is satisfied with the financial position ol the charity arKI confirms that it has adequate assets available lo lullil ils obligations. However, as Ihe Charitys activities are ceasing, the accounts have been prepared on this basis olher than goin9 conM. Ch8rllY$ publlc bwn•llt The trustee has ensured that all activities throughoul Ihe period have been in the interest ol public benefit. This is evidenced by the coniribulions made to charities lotalling £454.333.001£474,333.00 in 20231. Th8 truste8 confirms that Ihay hav8 r8lerred to th8 guKlanc8 contain8d in th8 Charity Commission's ganeral guidance on public benefit when rleing the charily's aims and objectives and in planning lulure activities. Reserves pollcy and rlsk managemenl It is the truslee's intention to maintain reselves lo enable it to respond. where considered appropriate. to appgals lor significant support, the timing ol which is unpr8dictabl8. and to raducè th8 charity's relianc8 on slock market results. Th8 Iruslee considers that the main risks the charity laces are fraud or p(K)r investment rtOm1an¢e and that these are monitored approprialely and ihal adequale syEtems are in pla to mitigate them.
THE G.A.P. CHARITABLE TRUST TRUSTEE'S REPORT FOR THE PERIOD 6 OCTOBER 2023 TO 5 OCTOBER 2024 Going Concern Due to the death ol Ihe Settlor, Mr George Pinlo. the Irustees ol G.R.P. CharilalJe Trusl have decided ro lerminale the trust in a¢¢ordan¢e with Mr George Pinto's 7$h¢S by dislribuling the trust assets lo various charities. These accounts are therefore prepared on a basis other than going concern. Trustee's responsibilities in relation to the financial statements The charity trustee is responsible lor Preparing a trustee's annual report and Financial Staternents in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practicel. The law applicable lo charities in England and Wales requires th& chartty trustee to prepare Financial Slalemants for each year which give a Irue and lair view ol the state ol arfairs ol the charity and ol the incoming resources and application ol resources, ol the charity lor that period. In preparing the financial statements, the trustee is required to.. sele¢l suitable accounting policies and then aFf)ty them consislenuy., observe the melh¢xls and principles in the applicable Charities SORP.. make judgements and eslimales that are reasonable and prudent; slate whether applicable accounting slandards have been followed. subjecl lo any material departures that musl be disclosed and explained in the financial stalements., prepare the linancial statements on the going ¢on¢ern basis unles8 il is inappropriate lo presume that the charity wll continue in business. The trustee is responsible lor keeping proper accountsng records that disclose with reasonable accuracy at any lime the financial posilion ol the charity and to enable them io ensure Ihat the financial slalemenls comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations. and the provisions ol the Trust Deed. The trustee is also responsible tor safeguarding the assets ol the charity and taklng reasonable steps lor the prevenlion arKI deteciion ol Iraud and and other irregularities. Digrtaltyged byGeorgeRYAN DaTo.' 2025.07.04 15.2?.53 +0I'fXY Oigitalty5ignEd byStOttPJCE Date."2025.07.07 1th31Tr.56 +01, Klelnwort Hambros Trust Company IUKI Llmlted Date 7 July 2025
THE G.A.P. CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT Independ&nt Examlnor'$ Report to the Trustse$ ol The G.A.P. Charltablg Trust {'the charltv) I report lo the Charity Trustees on my examination ol the accounts ol the charity lor the year ended 05 October 2024, which are set out on pages 5 10 11. Responslbllllles and ol Report As the Trustees ol the Charity you are responsible lor the preparation ol the accounts in accordance wlh th8 requirements ol the Charities Act 2011 Ilhe 2011 Act'l. I report in respe¢l ol my examination ol the Chariws accounts carried out under section 145 01 the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commision under section 14515llbl ol the 2011 kn. Independent Ex8mlner's Ststwnw)t Your allenlion is dravm lo Ihe lacl that the Charity has ppared Ihe aount5 in accordance with Accounting and Reporting by Chari1ies.' Statement ol Recornmended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Flepublic ol Ireland IFFIS 1021 in preference lo the Accounting and Reporting by Charities.. Statement ol Fl6commended Practice issued on 1 April 2005 which is referred to in the exlanl regulations bul has been Ihdrawn. l unclersland that this has l)een do loi the accounts lo provide a liue and lair view in accordance wth the G9ngrally Accgplgd Accounling Practice elfective lor rgporting porj$ bgginning on or aller 1 January 2019. I have completed my examination. I conlirm Ihal no matters have come lo my attention in connection th the exarninalion giving me Cause to beligve Ihal in any material respgcl.. 1. Accounting records were not kept in respecl ol the charity as required by section 130 01 the 2011 Act,. or 2. The accounts do not accord wlh those records.. or 3. The accounts do not comply wlh the applicable requirements conceming the form and conlenl ol accounts sel out in the Charities IA¢¢ounts and Reports) Regulations 2008 other than any roquiremenl that the accoun15 give a'lrue and lair viewl which is nol a matteT considered as part of an independent examination. I have no concerns and have come across no other matters in connection wth the examination to which allenlion should be drawn in this rewrt in order lo enable a proper understanding of the accounts lo be rea¢h9d. This reKX)rt is made solely to the charl$ Trusiees, as a ly)dy, in accordance wth Part 4 01 the Charities IAccounts and Reportsl Regulations 21KJ8. My %wJrk has been undertaken so that l rnighl stale lo the charity's Trustees those matters l am required lo slate lo Ihem in an Independent examiners report and for no other purrM)se. To th8 lullesl exlenl pèrmitted by law, I do nol accèpt or assumè r8sponsits.lity to anyone oth8r than the charily and the charity's Truslees as a body, lor my work or lor this report. Signed.. Daled.. 7 July 2025 Samantha Rouse FCCA DChA Kreslon Reeves LLP 37 St Margaret's Srreet Canterbury Kent CT12TU
THE G.A.P. CHARITABLE TRUST STATEMENT OF FINANCIAL AcmvmES FOR THE PERIOD 6 OCTOBER 2023 TO 5 OCTOBER 2024 2024 Unrestricted Fund 2023 Unrestricted Fund Nole Incoming Resources Investrnent Incorne Gross Donations ReceivedlReceivable 50,723.08 6,363.64 47,409.26 5,572.73 Total Incomlng R•$ource$ 57,086.72 52,981.99 Expendlture Donations lo Charitable In81ilulions Governancè Costs 454,333.00 29,680.66 474,333 00 29,195.45 Totsl Expendllure 484,013.66 503,528.45 Net Movement ol Re1¢e3 In the Perlod 1£426,926.941 1£450,546.461 Funds Al 6 October 2023 Nel Movement ol Resources in the Peri 1.613.605.87 (426,926.941 2,064,152.33 (450,546.461 Al 5 October 2024 £1,186,678.93 £1,613.605.87
THE G.A.P. CHARITABLE TRUST BALANCE SHEET AS AT S OCTOBER 2024 Note 2024 2023 Current Assets Sundry Debtors Cash at Bank Investrnents 12,682.84 3,825.66 1,172,390.43 9,384.20 93,156.49 1,513,165.18 1,188.898.93 1,615,705.87 Currenl Uabllltles Creditors, amounts lalling due thin one year 2.220.1)0 2,100.00 Net Current Asset$ 1,186,678.93 1,613,605.87 A898ts1o$s Current LlabllSlles £1,186,678.93 £1,613,605 87 Funds Unrestricted Fund 1,186,678.93 1.613,605 87 £1,186.678.93 £1,613,605 87 The financial statements were approved by the Irustee on 7 July 2025 Signed on behalf ol Kleinwort Ham0$ Trust Company IUKI Limtted Darta1Oed byGÈtyg¢RYfvtrI Date.-202S0704 15Jfr.40+91'W' Drtt.101507V7 I10•01 Authorised Signatories
THE G.A.P. CHARITABLE TRUST NOTES TO THE ACcOUs FOR THE PERIOD 6 OCTOBER 2023 TO 5 OCTOBER 2024 1 Accounting Policies These financial slalements have been prepared in accOrdar& wlh the particular accounting ptsli¢ies described below. Gen8ral Information The G.R.P. Charitable Trust is an unIr)ratell registered charty wlh the Charity Commission lor England and Wales, charity numbgr 255733. Thg registered office lor the Trust is 8 Sl James's Square, London SW1Y 4JU. Basis ot Preparation The financial statements have en prepared under thè historical cost Convention. The financial slal8menls have been prepared in a¢¢ordance with Ihe Stalemenl ol Recommended Pra¢li¢e'. Accounting and Reporting by Charities preparing their Financial Statemenfs in accordance with the Financial Rewrting Standard applicabla in the UK and Republic of Ireland IFRS 1021 published on 16 July 2019 and the Charities Act 2011. The Charity ctsnstitutes a public bènelit entty as dèfined by FRS 102. Given the intention to nd down the trusl. the accounts have been prepar8d on a basis other than going ctsncern. The presentation currency ol these financial slatements is Pounds Sterling. The figures have not been rounded. 88$ls ot Accouniing Income rognItIOn All incoming resources are inclLKled in the Slalemenl ol Financial Activities when the charity is legally enlilled lo Ihe incorne and the amount can be quanlilied wlh rgasonablg accuracy. Income lax recoverable in relation lo inveslmenl Irne is recognise(l al the lime investment income is receivable. Donations are recognised when the charity has been nolilied in writing ol both Ihe amount and settlgmgnl dalg. In the evenl that a donation is Subject to conditions Ihal require a level ol pertormance before the charity is enlilled lo the funds, the Income is deferred and not recognised until either those conditions are lully m81, or the lullilment ol those conditions is wholly wlhin the control of Ihe charity and it is probable that those ctsnditions will be fulfilled in the reporting period. Legacy gifts are recognised on a case by case basis following the granting ol probate when the administraiorlexecutor lor Ihe estale has communicaied in writing both the amount and settlement date. In th8 event that the gift is in the form ol an asset other than cash or a financial asset traded on a recognised stock exchange, recognilion is subject to the value ol the gift bwng reliably rreasurable wth a degree ol reasonable aU8¢Y and the title to the asset having been transferred lo the ¢haiity. Interest on funds helcl on deposrt 15 included when receivable arKI the amount can be Measu reliably by the charity,. this is nomially upon nolilicalion ol the interest paNI or payable by the bank. Dividends are recognised once the dividend has been declared and nolilution has been received ol Ihe dividend due. This is normally upon nolili¢alion by our investment manager ol the dividend e1 ol the investment portfolio.
THE G.A.P. CHARITABLE TRUST NOTES TO THE ACcOUs FOR THE PERIOD 6 OCTOBER 2023 TO 5 OCTOBER 2024 Expendilure recognition Liabilities aro re¢ognised as expgndtlure as S)n as ihere is a Iggal or constructive obligation committing the charity lo that expenditure, il is probable Ihal settlement 11 be required and the amount DI the oblioalion can be rlleasured reliably. All èxpenditurè is aceounl8d lor on an accru$ basis and has bèèn in¢ltKled undèr èxwnsè categoriès that aggregate all costs lor allocation lo activities. Where costs cannot be directly attributed to particular activities they have been allocaled on a basis consistent with Ihe use ol thè resources. Grants payable are charged in the period when the offer is made except in those cases where Ihe offer is conditional, such grants being recognise(l as expenditure when the conditions attaching are lullilled. Grants ollered subject to conditions which have not en met at the end ol the reporting period are noted as a ctsmmilment, but not a¢¢rued as expenditure. Fund Structure Income funds are unreslricled funds which are available lor use al the discretion ol the Iruslee in furtherance ol the general objectives ol the charrty and which have not been deSnated lor other purposes. Capital funds comprisg exp9ndable en(knwmgnls, whefeby IWe is no requirement lo spend the capital unless, or until, the charity trustee decides lo do so. These lunds are invested to produce unr85tricled income which can be spent in accordance V[th the charitable obpctives. Investment income, gains and losses are alk¢aled lo the appropriate fund. Investments Listed investments are included in the financial slalemenls al mid-markel value al the balance sheet dale. Unlisted investments are included in the balance shggt al their histori1 Cost less any amounts wrillgn off. Invesimenls include cash held lor invesimeni purposes. All unlisted investments arg in respect ol assets that arg not aclwely traded and have boen valued al historic cost less impairrnent. Investments have been included in current assets as a basis other than going concern has been applied. Reallsed galn$ and10sge$ All gains and losses are taken lo the Slalemenl ol Financial Activities as they ariso. Realised gains and losses on investrnents are calculated as the dilference belween sales proceeds and their opening carrying value or their purchase value il acquired subseguenl lo the first day ol the financial periocl. Unrealised gains and losses are calculated as the dillerence ts¥een Ihe lair value at the year end ar¥J their carrying value. Forolgn Currgnclo$ Transactions in foreign currencies are recorded using the Tate ol exchange ruling al the date ol the transaction. Monetary assets and liabilities denominate(l in foreign ¢urren¢ies are Iranslaled into sterling al the rates ol exchange ruling al the balance sheet dale. Exchange gains and losses arising on transactions in the year are recognised in the Siaternent of Financial Activities.
THE G.A.P. CHARITABLE TRUST NOTES TO THE ACcOUs FOR THE PERIOD 6 OCTOBER 2023 TO 5 OCTOBER 2024 Debtors and Creditors Those Charity accounts have t*8n prepared on an accruals basis and debtors and creditors have been dealt with in accordance with SORP IFRS 1021. Thgse a¢¢ounts inclLJde debtors as delin8d in Charities SORP IFRS1021 B2. The dèbtors arè mèasuréd at thèir recoverable amounts. No amount is recoverable more Ihan a year after the reporting date, so no adjustment lor lime value ol money is InclLKled in the accourhts. These accounts include IC11 creditors.. amounts falling due within one year as defined in Charities SORP IFRS102110.80. These creditors arise where there is a legal or conslruclive obligation Committing the charity to expenditure, it is probable that settlement will be required wthin one year and the amount ol the obligation can be measured reliably, yel no material payment had occurred by the end ol the aecounling period. Th& Trustees expect lo make all relevant payments in Ihe subsequent financial year. 2 Informatlon regardlng Trustees. Employees and Related Partbes SG Kleinwort Hambros Trust Company IUKI Limiled reeèived a lee 01 £23,664.001£23,304.00 in 20231 lor ils services as Corporate Trustee and Asset Risk Consullanl. The charity had no ornployees during the p8riod. There were no outstanding balances Vlilh related parties al Ihe current or prK)r year end. No Trust88 expenses were reimbursed during this year or th8 prior year. 3 Govern8nce Cosls: 2024 2023 SG Kleinwort Hambros Trust Company IUKI Limilod Foes Inveslmgnl Managemgnl Fees Indep9ndènt Examinerfs F99$ 23.6fA.00 3.796.66 2.220.00 23,304.00 3.791.45 2,100.00 £29,680.66 £29,195.45 4 Donatlons to CharStablo Instltutlons 2024 2023 Cambridge Middle East and North African Forum Jerusalem Foundation Policy Exchange Lirnited Simon Marks Jewish Primary School Trust 50.000.00 384,333.00 20,000.00 50,000.00 384,333.00 40,000.00 Total £454,333.00 £474,333.00
THE G.A.P. CHARITABLE TRUST NOTES TO THE ACcOUs FOR THE PERIOD 6 OCTOBER 2023 TO 5 OCTOBER 2024 5 Investments at cost: Unlisted 2024 2023 Investment Cost Brought Forward 225,434.21 225,434.21 Cost ol Unlisted Investments £225.434.21 r225.434.21 UK Investments Non-UK Investments 55,184.21 170,250.00 55,184.21 170,250.00 Total Unllsted InSIMlS £225.434,21 t225,434.21 Total InstMentS Cash on Call Accounl 225,434.21 946,9S6.22 225.434.21 1.287.730.97 £1,172,390.43 £1,513.165.18 All unlisted investments are in respect ol assets that are not actively traded and havè beèn valuad al historic Cost less impairmenl in line th the accounting policy. Inve$tmont$ comprl$lng greater than 5% of Porttolk• 2024 2023 Weeding Technologies Limited TVD Group Limited 24.48 75.52 24.48 75.52 6 Invostmont Incomg 2024 2023 Gross Interest 50.723.08 47,409.26 £50.723.08 £47,409.26 7 Debtors 2024 2023 Donation in transit Tax repayment due hom HM Revenue & Customs 3,500. 9,182.84 3.065.00 6,319.20 £12,682.84 £9,384.20 10-
THE G.A.P. CHARITABLE TRUST NOTES TO THE ACcOUs FOR THE PERIOD 6 OCTOBER 2023 TO 5 OCTOBER 2024 8 Creditors, amounts falling due within year 2024 2023 Independent Examinerfs Fees 2,220. 2,100.00 £2.220.CHJ £2,100.00 9 Unrgstrlcted Funds Summary 2024 2023 Balance Brought Fonvard 1,613.605.87 2.064.152.33 Income Expenses S7,086.72 1484,013.661 52.981.99 1503,S28.451 Carrl8d Fonvard £1,186.678.93 £1.613,605.87