DAVI&RUBENS CIIARITABLE TRUST TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 Page I Index Page 2 Reference and Admllliitr*tive Inform*tio Po8¢8 3&4 Trustees, Repor¢ Page 5 Independe￿1 Euminer's Report Page 6 St8tement ofMD*nclo1 Actlvltles Page 7 Bal4nee Sbtet PA8¢s 8-15 Notes lo the Flll*nclal S¢atement$ DAVI&RUBENS CHARITABLE TRUST Cr¢ated by Deed d*ted 9 D£eernber 1971 Rwstered Charity No. 263662 REFERENCE AND ADMINISTRATIVE INFORMA TION TRu￿BEs Gil¢s Tristan Rubens {De¢eased 10 April 2025) Edward Benjamin Parnell Checkley Queniin JAeob Rubens (Appointed 15 (ktober 2025) BANKERS C*¢r Allen Private Bank 9 Nelson Stre¢t Bradford BDI SAN INVESTMENT MANAGERS Rathborte$ Inv¢stsn¢nt Mana8ement 8 Finsbury Circus London EQM 7AZ IIYDEPENDEKf EXAMINER G & W Tax Consultsnts 40 Vellacotts Chelmsford Essex CMI 7EB DAVI&RUBENS CHARITABLE TRUST TRUSTEFS, REPORT The TnJs*¢s present their Report and Financial Statements for the year ended 5 April 20￿. REFERENCE AND ADI￿INISTRAT[VE INFORMATION D¢lai15 are shown on page 2. STRUCTURE, GOVERNANCE AND MANAGEMEL Govern¥ng Do¢umtttt The TTUSt was created by Mr Henry Davis by Deed on 9 December 1971 and he paid ihe surn of £10 to the Trustees. On 19 January 1972 Mr Davis made a gift of wh amounting ¢0 £10.155.55 to the Trustees. On 31 January 1972 Mr Davis made 8 further gift of ¢ash amounting to £2,629.36 10 the Trustees. In March 2001 the Tn￿le£S of the Frank & Enid Rubens High8ate TnAst (Registered Charity Number 2721391 Bifted oll their asset$ to the Charity. The total value of the assets transferred was £155,710. The name of the Trnst was chAnged from the Lily & Henry Davis Charitablc Foundation to the D8Vi Rubens Charitable T￿￿t by Deed dated 10 January 2002. Appolbtment of Trus1¢¢ When a need arises the power of opp)inting new Trugtees vests with the Tntstees at that time. Rlsk MaTrg¥ement Th¢ major risks to which the TtU5t is exposed, as identified by the Trustees. have been reviewed and syst¢ms are in place to manage those risks. OBJECTIVES AND ACTIVITIES The Obj¢¢iiv¢s of the T￿￿t are set out in CI&u8e 3 of the Trust Deed which states that the Trnstees shall hold the Trust Fund and the income thereof upon trusr firs¢ly to pay there from all the prop¢r ¢ost5 and expenses ineuffed by the TTU5tee5 in administerin8 the Trust and the property thereof and SUbj￿t thereto io pay or apply the income thereof and sueh part of the Capital thereof as the Tru$rees sh411 in their absolute diKreti¢)n from tim8 to time think fit to or towards or for the 8dvgn¢¢ment of or in tknherEnce of such Charitsble Purposes or Charitable Institutions and in sueh proportions as the Trustees may from time lo lim PUBLIC BENEFIT In meeting the obje¢tives of the Trust the T￿￿tee$ liav¢ given Careful Consideration to the ChArity Commission's general guidance on publsr b¢n¢fit and are satisfied that all donations made tneet this 8uid8nce. ACHIEVEMENTS AND PERFORMANCE The Tyustees have continued to apply their fimds in accordance with the objeciives of the Trust. and the other PTOViSiOnS of the TnLSt DeeiL Donations totallin8 £34200 {2024: £31300) have been made in r¢sp¢¢t of the year. FINANCIAL REVIEW The result5 for the ycar shown on page 6. The TTUStecs are satisfied with the state of the TntsV$ affair5. DAVI&RUBENS CHAIUTABLE TRUST TRUSTEES, REPORT CONTINUED INVESTMENrs The investments are managed by Rathbon¢5 Investment Management on a Discretionary basis. The investment objective5 are balanced and the risk level 1$ medium. RESERVES POLICY The Trust's Re5¢rves are held as Unrestricied Funds which ihe Truylees regard &g expendable endowmenL It is the Trustees, policy to maintain and wherever possible w increase its value, so as to 8enera(e income to make grants in accordance with ihe objeciives of the Tnjst. PLANS FOR FUTURE PERIODS The Trustees intend io continue to support otheT ehariti¢5 Within the objectives and there are no immediate plans to alter the way in which the Trust is ruft, nor the way in which incom¢ 1$ expended. STATEMENT OF THE TRUSTEES, RESPONSIBILITIES Charity Law require5 the Trustees to prepare Financial Statements for each financial year which give true and fair view of the Trust's financial activities during the year 8nd of its financial position at the end of the year. In preparing ihose Financial Statements, the Trustees are reqiiired to: selecl suitable accounting polici¢s and then apply them con$i$t¢nily: make judgements 2nd estimal&s th&t are reasonable 2nd prudent. stste whether the policies are in accordance with applicable accounting standards" prepare the financial Stalements on the goin8 concern b8si$ unless it is inappropriate io presume that the Trust will ¢onlinue in operation. The Tnjstees are r&s]y)nsible for keeping proper aceounting records which disclose with re&sonable accuracy ￿ any time the financial positiort of the Trust and which enable them to ensure that the Financial Statements Comply with the Charities Act 2011. They are also responsible for safeguarding the a$$ets of the Trust and hence for 18king reasonable steps for the prevention and detection of fraud and other irregu18rities. Approved by the Trustee5 And signed on their behalf by.. Edward BeDjAmin Par￿ell Cbeekley Trustee DAte: February 2026 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DAVIS-RUBENS CHARITABLE TRUST We report on the Financia] St2tements of the Davis-Ruben# Charitable ThLSt for the year ended S April 2025, which are set out on ￿8¢3 6 to 15. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMIN'ER The Trustees are responsible for the prepartition of the FinP￿¢1*] SthtementL The Th]stees ￿nSider that an audit is not required for the year under seetion 144(2) of the Charities Act 2011 {the 2011 Act) and that aft independent examinaiion is needed. It is our responsibllity to: ¢xamine the Financkat St&tements under section 145 of the 201 IAct. to follow the pr￿edureS l¥id down in the gen¢rni DI￿(10￿$ 8Lven by the Charity Commission under section 145(5)Ib) of the 2011 Ath,. and 10 whether particul￿ matters hav¢ come to our atteniion. BASIS OF INDEPENDE￿r EXAMINERIS REPORT Our examination was carried out in accordance with the generai Directions giv¢n by the Charity Commission. An examination includes & review of the accounting records kept by the Tru&l and t omparison of the Finthcial Statements PTesented with those records. It a150 includcs consideration of any unusuol iterns or di8closur¢s in the FiMn¢ial Sthtemcnt& and seeking explanations from you as Trustee$ conc¢rnin# any such mailers. The procedures utsdenaken do not provide oll the evidence thli would b¢ required in an wdil and cons¢qu¢ntly no opinion is given as to whether th¢ Financiol Statements present a Irut and fair view, and the report is limited ￿ those rnat*rs set out in the slatement below. INDEPENDENT EXAMINERIS STATEMENr In connection with our examin4tion, no matter hu come to our attention.. (l) which 8ives us re&qonabie cause to believe ihat in any rn&t¢ri81 regpe¢t the TequiTemenls.' to kttp a¢¢ountirt8 r¢¢ords in a¢cordance with se¢iion 130 of the 2011 Act: - lo prepxre Financi31 s￿eMen1s which ac¢oYd with the I￿OU￿1n8 re¢ords #nd comply with the accountin8 requiremen15 of th¢ 2011 Act. hLve not been m￿. or (2) to whid4 in our opinioo ￿tt￿lI0n should b¢ drawn In Ord¢r￿ ¢nablr a woper understanding of th¢ FLnancLal Statements to be reached. C & W Tgx Consultants 40 Ve118COtts Chelm$ford Essex CMI 7EB Date: Febrnary 2026 DAVI￿RuBENs CHARtTABLE TRiIST STATEMENT OF FINANCIAL ACTIVITIES For the yeAr ended 5 ApTxi 2025 Plote 2025 2024 INCOMTNG RESOURCES InvtstlDg AetivitiÈ5 Inv¢stsn¢nt Ineome Interestots Invtslmcnt Mana8eV8 ACc￿nIs Ex-gratia paymcnt from bank 29,475 1.015 26,415 1.079 150 TOTAL INCOMING RESOURCES 30.490 27.644 RESOURCES EXPENDED Cost of Generatlllg Funds Inve5¢mcnl Management F¢¢s Charltable Exptndlture Distribuiions to Chariiies Covernanee Costs Accoulltancy & Ind¢Ftnden¢ Examtnerfs Fees Bank Service Fe¢ 9,848 9,217 3{2C 32.300 1.975 1.975 TOTAL RESOURCES EXPENDED 46.023 43.538 N¢¢ (outgoiogl r¢sourees N¢¢ Gwns on Inveskneni Ass¢ts in (15.533) (42.5561 115.894) 105,662 (58,089) 89,768 Unrutricted Funds it 6 Aprll 2024r2O23 brou8ht forward 1,363.364 1.273.596 Unreitrlct¢d Fundi at 5 Aprll 202Stt024 Carr1￿ forward £1.305 275 £1,363,364 DAVIS-RUBENS CHARITABLZ TRUST BALANCE SHEET At 5th Aprll 2025 2015 2tr24 Note LNVESTMEf4TS 1262.235 1.335,067 CURRENT ASSETS Balan￿5 at BaT￿ & Investment Managers Debtors 45,015 30,272 45,015 30,272 LIABILITIES 1.97J 1,975 NET CURRENT ASSETS 43.040 28.297 £IJ05.275 £1.363 364 RePre￿ntIn8:. UNRESTRICTED FUNDS £1.305,275 £1,363.364 Approved by th¢ Trustees on E B P Che¢kl¢y Trnstees QJRube DAVI&RUBENS CHARITABLE TRusr NOTES TO THE FINANCIAL STATEMENTS For the ye¥4r eDded 5 April 2025 I. ACCOUNTING POLICIES (A) Basis of Aeeounting The Financial Statements have be¢n p￿pared undcr the historical Cost ¢onv¢ntion with the exception that inv¢stm¢nts are valued at market value. The Finan¢ial Stsiementy are in accordance with applI￿b)e accounting standards, Ihe Statement of Recommended Practice., Accounting and Reporting by Charities (SORP 2005) and Comply with the Charities (Accounts and R¢rA)rts) Regulations issued under the Charitie5 2011. (b) Ineome Income is aeeounted for on an accruals basi$. Investment income and interest are accounted for when receivable and include any related income t&x re¢oveT8ble. Expenditure (c) Expenditure is reco8ni3ed on an accruals basis. IDvestmeDts (d) Quoted investh)ents have been valued ai mark¢1 value at th¢ Bal8n¢e Shee¢ date. Unr¢ali$ed and realised investm¢nt gains and105s¢s a￿ shown nel in th¢ Siatcment of Financial Aclivilies. Realised gains and losses are calculated by referenee to ihe original cost and the sale proceeds. DAVIS.RUBLNS CHARrrABLE TRUST NOTES TO THE FIliANCIAL STATEMEIYTS For the year 5 April 202$ 2. INVESTMENTS Holdings *¢ 61hApT112024 C￿t ind Sale Movements Purrh• HoldlnRS gt 5th ApTII Illl5 Co Mhrk Valu¢ Intome 5AU5 >)24llS Nwthtnxl Prorcth onsa rixtd Int¢reBt Unit 220 IlJ86 223JS 4oPJc 281011108p ord ihw Fr•om.McMorron In¢ USSQ IO¢¢mmon *#k 12.638 IP77 21.661 941 25,U¢ (2N> 179 &540 1942 5.818 20,6S8 353 USSOOI comrnGD ML 319 20,965 15.1201 9,953 4,B27 15, Jl.069 194 OE Hedth¢•r¢T•¢h knc LtSSO.01 CC*mmon IJ3 7.5$1 250 171419 GE VernD￿j Ine us3001 ¢umnon*Ack SJ54 79 5J54 10,s?s Olv8udJnAG c￿￿10 sha 12A07 12,1))7 27153 317 alwSThithKlinePIc 31114pord ¥h8tt1 GYeatPortl￿E*11e5Pk 15 20p*rdthBr (UK Rryl Ft¢nryesJn*rn3Dun 370 370 5.24$ 3.225 10.056 10.986 11,942 20.450 558 19,18J 22.8C 1.937 18 4.169 {41 8.954 8.028 J,243 27.024 CArritdfrnrd 209.484 10109 47￿74 34.121 220293 298,985 OJ17 io DAVI&RUBEP4S CHARITABL8 TRUST NOTES TO THE FINANCIAL STATEMENTS For the yearended S April 2025 2. INVESTMENTS Holdlttgs #¢ 6th ApA12•24 N•rnlTr*l Pur¢hfise S#le Mov¢m¢thts le Prnflt Hokllttgs at 5th ApA12025 Cost Market Value Intome .25 2024125 Bro￿￿¢ forwird Inier*k GTOUP PIC Ipord thDrc L¥knI SA 209.484 10109 47.674 .121 120393 298.985 6J87 15.¥46 306 15J16 13.891 QOSS 18,468 67 24.523 19.197 LVMH MO￿ Etcnncw SA kn030shar 61 7,308 61 7.308 27.455 499 Mtrks& SpeTrrorGroup PYD 25p¢rd shuey Mi¢rosoftCorwra¢w¢ USSO.CW4)625 ¢omrnoA S￿0k Ntsd¢SA CHFO.10 (R¢￿151¥ Nomi$AG eHFO.50 IR¢WlsPdrts NovovNcrfdI￿ AS DKKO.I kl B Pnthnliai PIC 5p(Kd R¢¢kill BenEki#r GTW> Pk l(* ord sh#r¢i RtLx P 14 44pord5P*rns 1knOTin￿ PI Iopord #ha￿$ Rolls RO￿ Trloldinij PIC 20pryd sh¥r¢s S¢hlwntryr L UtsJ.01 mmonfjt￿k 6A29 29293 8h38 36,414 31,365 192 192 2,886 sJ,3 390 418 18.84é 418 18.846 32.957 292 9.169 292 24,253 578 456 7.630 1691 3.983 317 1.475 311 2.951 31.747 2.931 31.747 21.889 485 146 4887 4,887 7.420 217 1.9 9054 15981 12,1501 16,968 63LM 49.684 788 3,788 7.885 629 0￿46 7333 18461 18941 6178 5.714 339 39.540 816 25.411 12651 IB.2551 10.308 2N53 551 17.1 474 Schroders Pl 20P*￿￿h￿oA 1.160 3.979 13.9791 5.593 1.614 Ew•O.07 B, ijoo 15.946 12 15.946 29.718 1295 Smith & Nephow Fl USSO.20 Nd ih 11.756 11,756 20.610 592 StsndarfChwkTrd >X¢ USS0.50 ord 3.804 27P79 27.079 3&473 895 VBS Group CHFO 10 shBre¥ 43.972 1228 43,9ri LI.7Y9 UniJwrW¢ 3 119poTd shEJr 43 1.958 10.501 39*17 1234 USS0.I￿1 Cornmw W￿t Disnoycornpany USSO.01 Cornrnw 13332 12361 BS8 622 11996 39.129 247 237 0.120 237 120 15299 C*rried ftrw*rd 51kS.I26 36,833 98.067 67.145 544959 869,942 l7263 DAVI&RVBENS CHARrrABLE TRu￿r NOTES TO THE FJNANCIAL STATEMENTS Vor thtyear ended SApril 2025 2. IhVESTMENtS l¢orttinued) IIoldl#q¥ 6thApr112024 Purchase thDd Sal¢ Movemtnts Pur¢hAs* Sdle Frnftl Costs Pr•¢fy)11 0￿￿1￿ HoldinEs at 51h April 2025 Nrthlffi*l Markei Valu¢ SAJ5 In¢oThe 202412S Brwghtfornrd World￿0¢Hou1￿11eT1um PIC I InprydihrLttS $knc USSO.01 C1055 AComvI￿1wk 506.126 36.833 9&067 67.145 542.959 869.942 17263 14Jo &428 &421 40.183 19.743 189 19.743 571.130 22.162 224 534297 J6.533 98.067 67,145 9322¥1 17.887 Unkn Truitl CoryryJt¢BondZ]neon ]ni*scoM3rk¢typi IoDmb¢rgComffltyJlly UCITS PIC c+xPOrn￿ Bthd04 Yvs UCITS m&c￿¢uNn¢S Ud Bothd s￿￿￿￿pPInc 10,424 10.424 19.771 20.038 838 483 (672 413 8A18 438 4&141 438 45,141 19154 14.W 88.493 19th54 14.904 IOJ78 787 88.493 89.345 3.522 Grand Totsli £111681 ￿?.392 £893.¥IX £1262J3S Ug.475 MVofinv¢JtmcntsM Cb5m4124 CoM•(5nvoiun¢n¥¥qyw4d Prttetdsof5BI¢i Nrt￿b invest I,J35.067 88.412 118.681 30.176 I J04.791 67,3f2 Mvv¥Thni itt u￿r￿lstd Iwns inve5tsnen 142,5361 mv0f￿￿￿eo￿W￿S￿mll5 12 DAVI&RUBENS CHARITABLE TRUST NOTES TO THE FJNAh'CIAL STATEMENTS For ihe y¢ar end¢d 5 April 2025 3. BALANCES AT BAf4K & INVESTMENT MANAGERS 2025 2024 InvesEment Mana8¢ls Capital Account IDvestmcni ManaB¢e5 Incom¢ Accouni 4,748 39.032 1235 3.576 24.561 2,135 £45.015 £30.272 4. DEBTOR 2025 2014 T&wion R￿￿t￿b]e £0 £0 S. LIABILMES 2015 2024 Accounthncy and IndeF¢ndcnl Exomlneei F¢e$ ,975 1,975 £1,975 £1,975 6. TRUSTEES No Trus￿ rectiv¢d pny rcmutteration (2024.£NII) thd no ex￿￿1¢8 w¢r¢ KlmbJr*J in th¢ yw12024.£NIII 13 DAVI&RUBENS CHARITABLE TRusr N(YfES TO THE FINANCIAL STATEMENTS For the yeAr ¢nded 5 Aprll 2Q25 7 GRANTS AUTHORISED BY THE TRUSTEES Charity Number A8e UK AIEX Charitsble Foundation Amnesty In¢¢mational (UK S¢ction) Charitable Tnjst Blind Vttcrans UK Bloodwist Books Abn)ad Brendoncare Foundation Brit15h Friendg of the Hebrew Univ¢rsity of Jorusalem Brilish Home British R¢fugee Council Butler TTU Campaign lo Protect Runl En8land Capthility S¢otland Carers TrLLgt Child Bereav¢m¢nt UK Clapton Common Boys Club CLIC Sarg¢nt Canc¢r Car¢ for Chlldren Combat Stres5 COn￿¢t a Family lincorporntin8 Lady Hoar¢ Trusi) Cri$1$ Deafolind UK Denis Hurley Association Depaul Trnst Di8b¢t¢5 UK Disabilities Tru$t Drearn Holidays Easiern ￿v¢￿$ Tn￿t Eden Vall¢y Hospi¢e (Carlisle) Entrust Care Evelina London Cbildren's Hospi Family Aetion Family Holiday Association Fields In Trust INlltlonal Playing Fields Asgociation) Fircrgft Twst Fire Fighters Charity Florence Ni8htingale Aid irt Siekn¢ss TN FOC￿ Bimiin8ham GÉngerbread Guideposts GurkhLq Welfare Trust Help Mu5ici8ns UK 261794 1082148 1051681 216227 216032 SC011359 326508 209691 206222 1014576 291762 1089685 SCOI 1330 1145181 1040419 1121347 1107328 21)6002 284912 1082947 802970 1146106 802384 215199 800797 1036069 519907 1008796 1105940 251983 264713 800262 306070 802456 1000562 211896 1065745 230750 272619 1043000 228089 750 250 500 250 250 250 100 230 500 230 500 500 100 500 250 500 500 500 500 500 250 500 250 500 250 250 250 250 250 250 500 500 250 250 250 250 100 500 100 250 500 Carrled Forward 14,150 14 DAVI&RUBENS CHARITABLE TRUST NOTES TO THE FINANCIAL sfATEMENTS For the ytsr ended S April 2025 7 CRANTS AUTHORISED BY THE TRUSTEES Cb*rity Number Brougbt fonv&rd 14.150 Independents At Home Jewish Blind and Disabled Jewish Care Jewish Childrens Holiday Fund Jewish Child's Day J¢wish Deaf Associaiion Kidney Care UK Lifeboats (RNLJ) Limbless Association Listening Books Lymphoma Association Macmillan Cancer Support Marie Curie Cancer Care Medical Foundation for Ihe Care of Victims of Torture Mencap Mildmay Mission Hospital Mlnd Mobility Ttust Muscular Dy81rophy UK Musi¢ In H05Pitals Nationa] Deaf Children's Soclety North London Hospice North West Air Ambulance Northumberland Wildlife Trust Norwood Rav¢nswood Order of Si John Psoriasis A￿o¢l•ll0n RefjJge Royat Air FoT¢e3 Association Royal Association for Deaf P¢ople Royal Blind Asylum & School ROY￿ British Legion Royal Marsden Cancer Charity Salvation Arn]y Scope Sense, Th¢ N￿lonal Deafblind & Rubella Association Shine Sick Children's TrLL8t Sightsavers International SSAFA-Forces Help Spina] Injuries A5wiation 1141758 259480 802559 295361 209266 1105845 270288 209603 250 250 500 250 500 100 500 500 250 500 500 500 250 500 250 750 250 500 250 250 250 100 100 500 500 100 750 100 500 100 500 100 50Q 51)0 750 500 500 500 750 250 264221 1068393 261017 207994 1000340 222377 292058 219830 1070975 205395 1051659 1016532 285300 1075641 221819 1059050 235979 257414 277424 226686 1081949 SC017167 219279 1095197 214779 2082) I 289868 249iiS 284416 207544 210760 1054097 C*rTi¢d Forward 31.600 15 DAV15-RUBENS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS For tb¢ year ended 5 April 2025 7 GRANTS AUTHORISED BY THE TRUSTEES ChArity ]Yumber Brougbt forwird 31.6(N] St Hildas East Community Centre St John's Hospice Streatham Youth and Community Tntsi The Daisy Garland Trinity Hospic¢ VeTSUS Arthritis W&lerAid Youth Aliyah Child Rescue 212208 235822 1070889 1106530 1013945 207711 288701 1077913 250 250 250 500 500 250 500 100 £34.200