DocuSign Envelope ID: 5564E977-5C93-485B-9CBA-2A50556A0469 **Charity number: 264437** ## **THE ARNOLD LEE CHARITABLE TRUST** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023** DocuSign Envelope ID: 5564E977-5C93-485B-9CBA-2A50556A0469 ## **THE ARNOLD LEE CHARITABLE TRUST CONTENTS** ||Page| |---|---| |**Reference and administrative details of the Charity, its Trustees and advisers**|1| |**Trustees' report**|2 - 4| |**Independent examiner's report**|5| |**Statement of financial activities**|6| |**Balance sheet**|7| |**Notes to the financial statements**|8 - 16| DocuSign Envelope ID: 5564E977-5C93-485B-9CBA-2A50556A0469 ## **THE ARNOLD LEE CHARITABLE TRUST** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2023** |**Trustees**|Alan Lee| |---|---| ||Edward Lee| |**Charity registered**
**number**
264437
**Principal office**
16 Great Queen Street
London
WC2B 5AH
**Accountants**
Blick Rothenberg Limited
Chartered Accountants
16 Great Queen Street
Covent Garden
London
WC2B 5AH
**Solicitors**
Maurice Turnor Gardner LLP
15th Floor, Milton House
Milton Street
London
EC2Y 9BH|| Page 1 DocuSign Envelope ID: 5564E977-5C93-485B-9CBA-2A50556A0469 ## **THE ARNOLD LEE CHARITABLE TRUST** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2023** The Trustees present their annual report together with the financial statements of the Charity for the 6 April 2022 to 5 April 2023. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s Trust Deed, the Charities Act 2011 and the relevant version of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ## **Objectives and activities** ## **a. Policies and objectives** The trust's objectives are to distribute the income and capital of the trust for any charitable purpose or objective. The policies adopted in furtherance of these objectives are to distribute grants, on application, to established charities of high repute and there has been no change in these policies during the year. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. ## **Achievements and performance** ## **a. Main achievements of the Charity** The trust continued to make donations to various entities linked to the Jewish community, keeping in mind its duty to the public and its founding objectives. During the year the Trustees have examined requests from a large number of institutions and have made grants amounting to £254,878 (2022: £244,282) to 39 (2022 - 32) institutions. The largest were: Aish Hatorah - £24,996 (2022: £12,500) - Jewish education and experiences for young Jews in the UK. NW London Jewish Day School - £10,000 (2022: £10,000) - Jewish Modern Orthodox school. BFAMI - £10,000 - Support educational programmes run by the Art Museums of Israel. Central Synagogue - £20,200 - Holds regular weekday and Shabbat services, as well as a range of social events throughout the year. Friends of United Hatzalah - £10,500 - Emergency medical service (EMS) organization that provides the fastest emergency medical service throughout Israel. Israel Philharmonic Orchestra Foundation - £10,000 - Promotes peace and open dialogue through the power of music. Jewish Care - £50,000 - Health and social care charity for the Jewish community in London and the South-East. Yesodey Hatorah School - £10,000 - Meets the needs of the Charedi Jewish families in Stamford Hill. Western Marble Arch Synagogue - £10,345 - Jewish place of worship in central London. The remaining grants were for less than £10,000. Page 2 DocuSign Envelope ID: 5564E977-5C93-485B-9CBA-2A50556A0469 **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023** ## **THE ARNOLD LEE CHARITABLE TRUST** ## **Financial review** ## **a. Going concern** After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in note 2.2 within the accounting policies. ## **b. Reserves policy** The reserves of the Charity as at 5 April 2023, which relate entirely to unrestricted funds amount to £2,216,164 (2022: £2,362,599). The free reserves of the trust as at 5 April 2023, which exclude the investments, amounted to £1,086,164 (2022: £1,232,599). It is the policy of the charity to maintain its funds in long and medium term investments and to generate regular income to meet its annual expenditure. Additionally, the trust maintains sufficient liquid funds to respond to emergency applications for grants which arise from time to time. ## **c. Risk management** The Trustees continued to keep risk management at the forefront of their discussions. Risks are considered in the areas of investment policy and performance, governance effectiveness and grant making. As a result of the major risks identified, a number of mitigating actions were taken. The Trustees' aim is to continue their work and to continue funding charitable causes at the present level and therefore meet the trust's objectives. ## **d. Results for the year** The Statement of Financial Activities set out on page 6 of the financial statements shows how the Trust's incoming resources have been expended during the year ended 5 April 2023. Total incoming resources amounted to £143,853 (2022: £895,717), comprising investment income of £143,853 (2022: £155,533) and donations of £nil (2022: £740,184). Total expenditure for the year was £290,288 (2022: £259,649), which included grants paid to charitable institutions of £254,878 (2022: £244,282) and governance costs of £35,410 (2022: £15,367). There was no movement in the valuation of the Trust’s investment property during the year or the prior year. Accordingly, the deficit for the year was £146,435 (2022: £636,068 surplus). After bringing in the brought forward reserves of £2,362,599 (2022: £1,726,531), the closing unrestricted funds at 5 April amounted to £2,216,164 (2022: £2,362,599). The Balance Sheet set out on page 7 of the financial statements shows the financial position of the Trust at 5 April 2023. The Trust owns one investment property, which is valued at £1,130,000 (2022: £1,130,000). Net current assets of £1,086,164 (2022: £1,232,599) is represented by debtors of £338,823 (2022: £523,732) plus cash at bank and in hand of £782,794 (2022: £740,304), less current liabilities of £35,453 (2022: £31,437). Total net assets amount to £2,216,164 (2022: £2,362,599), which is represented by the closing balance on the unrestricted funds. Page 3 DocuSign Envelope ID: 5564E977-5C93-485B-9CBA-2A50556A0469 **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023** ## **THE ARNOLD LEE CHARITABLE TRUST** ## **e. Funds held as agent** As at 6 April 2022, the Trust held £11,063 as agent, which were distributed to charitable causes during the year. Further details are set out in note 15 to the financial statements. ## **Structure, governance and management** ## **a. Constitution** The Trust is an unincorporated charity, constituted under a trust deed on 17 July 1972 and registered with the Charity Commission. The Trust was established by an initial gift from Arnold Lee in 1972, and over the years the Lee family has made substantial gifts to the charity. The trust does not actively fundraise and seeks to continue its philanthropic work through careful stewardship of its existing resources. The Arnold Lee Charitable Trust is a registered charity, number 264437, and is constituted under a Trust deed. The address of the principal office is 16 Great Queen Street , London, WC2B 5AH. ## **b. Methods of appointment or election of Trustees** The Trust is administered on a day to day basis by its executive Trustee, Alan Lee. The Trustees who served during the year were: Alan Lee Edward Lee The Trustees are appointed in accordance with the deed of appointment and retirement signed on 14 April 2011. The Trustees meet regularly, as needed, to consider the trust's recruitment needs, reviewing its investment strategy and authorising all grants. The trust is aware of the need to provide training to its Trustees as considered necessary. There are no specific restrictions imposed by the governing document concerning the way the trust can operate. There are no restrictions on the trust's power to invest. Approved by order of the members of the board of Trustees and signed on their behalf by: **Alan Lee** Trustee Date: 01-Mar-24 | 15:58 GMT Page 4 DocuSign Envelope ID: 5564E977-5C93-485B-9CBA-2A50556A0469 ## **THE ARNOLD LEE CHARITABLE TRUST** **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2023** ## **Independent examiner's report to the Trustees of The Arnold Lee Charitable Trust ('the Charity')** I report to the charity Trustees on my examination of the financial statements of the Charity for the year ended 5 April 2023. This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. ## **Responsibilities and basis of report** As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). I report in respect of my examination of the Charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Your attention is drawn to the fact that the Charity has prepared the financial statements in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no 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 2011 Act; or 2. the financial statements do not accord with those records; or 3. the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached. Signed: Dated: 01-Mar-24 | 16:00 GMT ## **Marc Levy FCA** ## **Blick Rothenberg Limited** Chartered Accountants 16 Great Queen Street Covent Garden London WC2B 5AH Page 5 DocuSign Envelope ID: 5564E977-5C93-485B-9CBA-2A50556A0469 ## **THE ARNOLD LEE CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023** |**Note**
**Income from:**
Donations and legacies
4
Investments
5
**Total income**
**Expenditure on:**
Charitable activities
6
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
**-**
**143,853**
**143,853**
**290,288**
**290,288**
**(146,435)**
**2,362,599**
**(146,435)**
**2,216,164**|**Total**
**funds**
**2023**
**£**
**-**
**143,853**
**143,853**
**290,288**
**290,288**
**(146,435)**
**2,362,599**
**(146,435)**
**2,216,164**|Total
funds
2022
£
740,184
155,533| |---|---|---|---| ||||895,717| ||||259,649| ||||259,649| ||||636,068| ||||1,726,531
636,068| ||||2,362,599| The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 8 to 16 form part of these financial statements. Page 6 DocuSign Envelope ID: 5564E977-5C93-485B-9CBA-2A50556A0469 ## **THE ARNOLD LEE CHARITABLE TRUST** ## **BALANCE SHEET FOR THE YEAR ENDED 5 APRIL 2023** |**Note**
**Fixed assets**
Investments
12
**Current assets**
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Unrestricted funds
**Total funds**|**338,823**
**782,794**
**1,121,617**
**(35,453)**|**2023**
**£**
**1,130,000**
**1,130,000**
**1,086,164**
**2,216,164**
**2,216,164**
**2,216,164**
**2,216,164**|523,732
740,304
1,264,036
(31,437)|2022
£
1,130,000| |---|---|---|---|---| |||||1,130,000
1,232,599| |||||2,362,599| |||||| |||||2,362,599| |||||2,362,599| |||||| |||||2,362,599| The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: ## **Alan Lee** Trustee ## Date: 01-Mar-24 | 15:58 GMT The notes on pages 8 to 16 form part of these financial statements. Page 7 DocuSign Envelope ID: 5564E977-5C93-485B-9CBA-2A50556A0469 **THE ARNOLD LEE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023** ## **1. General information** The Arnold Lee Charitable Trust is a charitable trust registered at the Charities Commission in England and Wales with charity number 264437. The principal office is 16 Great Queen Street, London, WC2B 5AH. The financial statements are presented in Sterling (£), which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Arnold Lee Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## **2.2 Going concern** Having considered post year-end financial results and cash reserves, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **2.3 Income** All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 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. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 8 DocuSign Envelope ID: 5564E977-5C93-485B-9CBA-2A50556A0469 **THE ARNOLD LEE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023** ## **2. Accounting policies (continued)** ## **2.4 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. ## **2.5 Investments** Investment properties held as fixed assets are intially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **2.6 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **2.7 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. Page 9 DocuSign Envelope ID: 5564E977-5C93-485B-9CBA-2A50556A0469 **THE ARNOLD LEE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023** ## **2. Accounting policies (continued)** ## **2.8 Financial instruments** The Charity has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. Financial assets and financial liabilities are recognised when the Charity becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Charity after deducting all of its liabilities. The Charity’s policies for its major classes of financial assets and financial liabilities are set out below. ## **Financial assets** Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. ## **Financial liabilities** Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. ## **Impairment of financial assets** Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of financial activities. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the Charity would receive for the asset if it were to be sold at the reporting date. For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the statement of financial activities. Page 10 DocuSign Envelope ID: 5564E977-5C93-485B-9CBA-2A50556A0469 **THE ARNOLD LEE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023** ## **2. Accounting policies (continued)** ## **Financial instruments (continued)** ## **Derecognition of financial assets and financial liabilities** Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. ## **Offsetting of financial assets and financial liabilities** Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## **2.9 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. ## **3. Critical accounting estimates and areas of judgment** Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions: The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. ## **Valuation of investment properties** The investment properties were valued at a fair value of £1,130,000 by a Trustee. The Trustee is a Chartered Surveyor with experience in the commercial property investment market. However, there is an inevitable degree of judgement involved in that each property is unique and value can only ultimately be reliably tested in the market itself. Page 11 DocuSign Envelope ID: 5564E977-5C93-485B-9CBA-2A50556A0469 ## **THE ARNOLD LEE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023** ## **4. Income from donations and legacies** |**Unrestricted**
**funds**
**2023**
**£**
Donations
-
Total 2022
740,184
**5.**
**Investment income**
**Unrestricted**
**funds**
**2023**
**£**
Investment income - local investment properties
105,653
Investment income - interest
38,200
143,853
Total 2022
155,533
**6.**
**Analysis of expenditure on charitable activities**
**Summary by fund type**
**Unrestricted**
**funds**
**2023**
**£**
Direct costs
290,288
Total 2022
259,649|**Total**
**funds**
**2023**
**£**
**-**
740,184
**Total**
**funds**
**2023**
**£**
**105,653**
**38,200**
**143,853**
155,533
**Total**
**2023**
**£**
**290,288**
259,649|Total
funds
2022
£
740,184| |---|---|---| |||Total
funds
2022
£
110,048
45,485| |||155,533| |||Total
2022
£
259,649| |||| Page 12 DocuSign Envelope ID: 5564E977-5C93-485B-9CBA-2A50556A0469 ## **THE ARNOLD LEE CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023** ## **7. Analysis of expenditure by activities** |Direct costs
Total 2022|**Activities**
**undertaken**
**directly**
**2023**
**£**
35,410
15,367|**Grant**
**funding of**
**activities**
**2023**
**£**
254,878
244,282|**Total**
**funds**
**2023**
**£**
**290,288**
259,649|Total
funds
2022
£
259,649| |---|---|---|---|---| |||||| |**8.**
**Analysis of governance costs**
Legal and professional fees
Bank charges|**2023**
**£**
**35,120**
**290**
**35,410**|2022
£
14,950
417| |---|---|---| |||15,367| ## **9. Analysis of grants** |Grants, Direct costs
Total 2022|**Grants to**
**Institutions**
**2023**
**£**
254,878
244,282|**Total**
**funds**
**2023**
**£**
**254,878**
244,282|Total
funds
2022
£
244,282| |---|---|---|---| ||||| Page 13 DocuSign Envelope ID: 5564E977-5C93-485B-9CBA-2A50556A0469 ## **THE ARNOLD LEE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023** ## **Analysis of grants (continued)** The charity has made the following material grants to institution during the year: |Chai Cancer Care
Aish Hatorah
Mesila UK
NW London Jewish Day School
BFAMI
Central Synagogue
Friends of United Hatzalah
Israel Philharmonic Orchestra Foundation
Jewish Care
Friends of Ascent
The Arts Council
Yesodey Hatorah School
Western Marble Arch Synagogue
Jewish Future Trust
Other grants below £10,000|**2023**
**£**
**-**
**24,996**
**-**
**10,000**
**10,000**
**20,200**
**10,500**
**10,000**
**50,000**
**-**
**-**
**10,000**
**10,345**
**-**
**98,837**
**254,878**|2022
£
15,000
12,500
21,127
10,000
-
-
-
-
-
25,000
21,600
-
-
50,000
89,055| |---|---|---| |||244,282| ## **10. Independent examiner's remuneration** The independent examiner's remuneration amounts to an independent examiner fee of £6,500 (2022 - £4,500). ## **11. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits (2022 - £NIL). During the year ended 5 April 2023, no Trustee expenses have been incurred (2022 - £NIL). Page 14 DocuSign Envelope ID: 5564E977-5C93-485B-9CBA-2A50556A0469 ## **THE ARNOLD LEE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023** ## **12. Fixed asset investments** |**Cost or valuation**
At 6 April 2022
At 5 April 2023
**Net book value**
At 5 April 2023
At 5 April 2022
**Debtors**
**Due within one year**
Trade debtors
Other debtors
Prepayments and accrued income
**Creditors: Amounts falling due within one year**
Other taxation and social security
Other creditors
Accruals and deferred income|**2023**
**£**
**43,096**
**295,075**
**652**
**338,823**
**2023**
**£**
**4,015**
**629**
**30,809**
**35,453**|**Investment**
**Properties**
**£**
**1,130,000**| |---|---|---| |||**1,130,000**| |||**1,130,000**| |||1,130,000| |||2022
£
2,152
517,992
3,588
523,732
2022
£
2,344
284
28,809
31,437| ## **13. Debtors** ## **14. Creditors: Amounts falling due within one year** Page 15 DocuSign Envelope ID: 5564E977-5C93-485B-9CBA-2A50556A0469 **THE ARNOLD LEE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023** ## **15. Related party transactions** As at the 6 April 2022, the trust held £11,063 from JV Holdings SARL, a company in which the Trustees were also shareholders, which was in the process of being liquidated. The funds had been earmarked for charitable purposes and were being held by the Trust as agent until a suitable charity had been found and were distributed in the year. As at 5 April 2023, the trust held £nil (2022: £11,063) as agent. As at the 6 April 2022, £215,611 was owed from Princeton Investments Limited, a company in which the Trustees have an interest. During the year, interest of 10% per annum was charged amounting to £15,672 and repayments of £231,283 were made. At 5 April 2023, the trust was owed £nil (2022: £215,611). As at the 6 April 2022, £1,500 was owed from E Lee, a Trustee of the charity. Repayments of £1,500 were made during the year. At 5 April 2023, the trust was owed £nil (2022: £1,500). As at the 6 April 2022, £198,062 was owed from A Lee, a Trustee of the charity. During the year, interest of 10% per annum was charged amounting to £19,752. At 5 April 2023, the trust was owed £217,814 (2022: £198,062). The loan of £185,000 was fully repaid in December 2023. During the year, donations totalling £5,000 were made to Chabad of Bloomsbury, a charity which A Lee is a trustee. Page 16