Ch•rlty r•glstratlon nUMr 265406 THE SIMON HELLER CHARITABLE 8EYTLEMENT ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024
THE SIMON HELLER CHARITABLE SErrLEMENT LEGALAND ADMINISTRATIVE INFORMATION Truslees Lady M Heller WS Trustee Company Limited J Heller A Heller Charlty numb•r 265405 Prlnclpal addr•v4 2nd Floor 12 LIIUO Portland Street London W1W8BJ Audltor Hart Shaw LLP Europa Llnk Sheffield Bu81ne88 Park Sheffield S9 1XU Bank•rn The Royal Bank ol Scotland PIC 62163 Threadneedle Street London Vnllad Klngdom EC2R 8LA
THE SIMON HELLER CHARITABLE SErrLEMENT CONTENTS Pag• Tru8t888' report statgment of tru8tee8' r08pon81blllUe8 Indyndent auditotr8 rwrt statsmenl of flnandal a¢llvllle8 8alance ihe•t Not•• to th• flnanclal 8lal•monl• 10-17
THE SIMON HELLER CHARITABLE SETTLEMENT TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Iru¥tees pre8ent thelr annual report and finanryal slalemenls for the year ended 5 April 2024. The finanual statements have been prepared In accordance wlth the accountlng poll¢le$ sel out in note 1 to the financlal slalemenls and comply with the Charities Act 2011 and 'kcounting and Reporting by Charities.. Slalem8nl of Recommended Practs'ce applicablè to eharilies prèparing I1r attounls in accordance wllh the Fin¢11 Reportlng Standard appllc8ble In the UK and Republlc of Ireland IFRS 102}. las emended for aGGounting period$ ¢ommenclng from 1 January 20161. Obl•ctlvo8 •nd actlvltlo# The ¢h$rity'$ oble¢l$ are to support tho fiJn¢Jlng of 8pe¢ffl¢ proje¢t8 rolallng lo medlGal, 8denlifi¢ and educatlonal 1os¢arch. The IruBlees have paid du8 regard lo guid&nce Issued by the Chartly Commlsslon in decidln9 what aGlit5 thè chor6ty ohould un¢Jertako. The trustees have dacided that for the foresèèable future, In aecordanee with th8 abové and ift extrei8e of Ihdr discretion, they wll InGludo some Significant donaUons to varlous unlvgrsilies for rgse8rch purpo¥gs, and In particular medical re8e8rch. A¢hl•vfjm•nts and p6rfomiance Slgnillcant 8clivilles and &ChVeMntS agalnsl objecltrfes Th6 nel Sncome available for donatson in the current year amounted to £310,629 12023.. £372,565>. Grant5 Of £389,49212023: £180.0111 w8r8 glvèn and all¢xated 88 follow8.. Educallon £44,420 {2023.' £15,550) Humanilarfan £298,27212023'. £151,481} Re8earch £26,80012023'. £13,000) Flninclal f•vI•w ReseN8s pollcy It 1$ the policy of thè charlty that unre8trfcted lunds whlch have not been de8ign)ted for a ¥peclfic u8¢ Jh¢)uld I maintainèd at a level equlvalenl lo al least slx to trlelve month's expenditure. Th¢ Iru$lee¥ ¢on¥lders that serVeS at thls level wlll en8ure Ihal, in the event of a slgnlflcant drop In fundlng, thèy wlll be 8blè to conllnu8 the th8rity'8 current aclivltle8 whlle con8lderalon Is glven lo way8 In whlch addfjtlonal funds may be ralsed. Th1$ level of reserves has b•8n mainlalned throughout the year. Th¢ Charfty dlstrlbuleg, a5 pgr the above ObJectivo8 & A¢lOvlllo$. th8 not In¢ome fr¢)m 118 Investrnenls. However, the Chadly 8180 malnlaln8 mlnlmum 8uffl&enl cash funds lo cover its 8ctfvitOo$ for 6 to 12 month8 In the unllkely event that all the Income from Its Investments does not materialisè. Larger cash sum8 are ols0 held eilhgr for rewinvestment or where the Tru8tee8 have under conslderation to make larger d18trlbutlon as per its Obl¢¢tiV¢8 & Aclivllie8 above. Vvhgre the charity hold$ real e8tate investments, the Trusleg8 lake into 8cwunt 80cial and envlronmental and ethical cDrs$idorations. Maiorrtsks The trustees have assessed the major risks to whlch the charlly Is exposed, and are satisfitrd that $ysl8m8 are in place lo mltigale exposure lo the major risks. 8tructur•, governance and m•nagornont The charity was established on 16 October 1972 to enable the trustees to apply both capitsl and income for ggneral ch8(ilable purpo$o$ or objects. 11 is governed by the Dged of Charitable Setdemenl.
THE SIMON HELLER CHARITABLE SETTLEMENT TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2024 Tho IruJt888 Ytho w¥ed ¢Jrtng th• y•ar r4KI up to Ihe date of 1&fUl8 ofthe flnanckql 8tatement6 were: Lady M H•ll6r WS Trust•• C¢MpV Unltsd J H¢llor A H•l8r Rwvllm8nt•nd8wioknlmBrt Th• powe of•ppDinllry a n•w truata• Bhall b• •x•rd8rAI by Laty M Halter. JI decJthn• rngirthtryj th• charfth•8 ac111588 ue rnad• by the tru•tee8. Th• trug1••* r•portw•• ¥Jprov•d by th• Bowd ofTrwt••#. A H•lor 14 Jonuw 2025
THE SIMON HELLER CHARITABLE SETTLEMENT STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 5 APRIL 2024 The trustees are re5pon8ible for preparfn9 th8 Trusle88' Report and the flnancS8l statements in a¢cordance with applicable law and United TrQ'ngdom AccounliNd St8nd8rds Iunlted Klngdom Ganerally Accepted Accountlro Practicel. The low applicable to charities in England and Wales requires the trustees lo prepare financial stslemenl$ for gath financial yeaf which give a true and fair view of the 81ale of affairs of the charity and of the InGomlng resources and appllcatknn of re80ufce8 of the chaty for that year. In preparfng these finanaal slal8ment8, the tru8leo8 8r6 requlred to.. Select 8ultable accountlng polScle8 and then apply them con81stently,' . observe thg methc4J8 and principles in the Charille8 SORP,, make Judgements and 8sllmal88 that are rea80nabl8 and prudent.. stale whether ?ppllGable accountlng 3tsnd8rd8 have been followod, 8ubl8¢t to 8ny materlal departuro8 dl$do8•d and explained in the flnancial statements,. ond PTepare the flnancl813latemenl8 on the golng Mn¢em ba81s unlos$ It18 Inapproprlate lo prewme th81 the ¢h8rlty wlll contlnue In oper8Uon. Th• Irusl•o8 or• r88pon8lblg for keeplng 8LJfficlenl 8ccounllng records that dl8clo8e reasonable accuT8cy at any tSme the financial p¢811ion of tha charlty and enabl8 them to ensure that the flnanclal statements comply vllh the Charllie8 A¢1 2011. Ihg Chaflty (Accoun18 and Report81 Regul8llon8 2008 and the provl8ion8 of the tru81 d8ed. They afe 81¥0 responslble for s8fegu8rding the 8s8ets of th8 charlty and hence for laklng rea80nable steps for the prevonllon and detection of fraud and oth•r Irregu18riti•$.
THE SIMON HELLER CHARITABLE SEThLEMENT INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE SIMON HELLER CHARITABLE SETTLEMENT Oplnlon We have audlted the finarbciol slatemgnls of The Simtsn Heller Charitable Settloment (the 'charlty'l for the year ended 5 Aprll 2024 whlch comprise the 8ts1em8nl of financlal 8Ctlvilie8, the balance sheet and notes lo the financlal slal&ments. Induding signifan1 occounling policies. The financial reporting framework that has beèn applled In their Preparation is applicable law and Unlted Klngrlom A¢¢ounling Standards, includlng Flnanclal Reportlng Standard 102 The Financial Reporting Slandard appllc8ble in the UK and RepublK of Ir818nd (United Kingdom GenerallyAccepted Accounting Practiul. In ¢)ur oplnlon. Ihe financial 8lalgment8'. glve a true and fair vlew of the slate of the charty's affalr8 as al 5 N)rll 2024 and of ils incoming resources and appllcallon of resources, for the year then ended., have been properfy preparèd In èccordgnce wlh United Kingdom Generally Accepted Accounlng Practi¢*: and hav• b¢•n prepar•d in accordance with the requiremonls of the Charftle8 Act 2011. Basls for oplnlon Wg conduded our •udil in accordance with Intematlonal Standards on Audlllng IUKI IISAS IUKI} and Bppllcable law. Our responsibilitie8 under those 8landard8 are further described in the Audito8 responsibilitS for tlje audit ol the Ilnanclal statgmenls section of our report. Wg are Independent of the ¢harlly In gccordance with the ethical requlrements that are relevant lo our 8udlt of the Ilnanclal Blatemenls In the UK. Indudlng the FRC'8 ElhlGal Stsndard, and we have fulfilled our other ethical re8pon8ibllill88 in aeeordanca wllh these requirements. Wg believe that the audit ovidence we have oblalned18 sufficlanl and 8ppropii8le lo provid6 8 b8818 for Our opinlon. Conclu¥lon• rolatlng to golng con¢•rn In auditing the fin8nci81 818tements, w? hav? concluded that Ihtr trustees, use ol the going concem ba818 of accounting in the preparation of the linanual 8101gmenls is appropriate. Based on the work we have performed, we have not IdenlSfl•d any malerlal uncertalntle8 relallng lo event8 or conditions that, individually or collectively. may cast significant doubt on the charity's abillty lo continue as a golng con¢em lor ? poriod of ot lea81 fv40lve months from when the flnancial statements are authorlsed for i88ue. Our r88ponsSbS1ille8 and the re8pon8lbllllle8 of the tru8tee8 vllh re8pècI to golng ¢on¢¢m are de8¢ribed In the relevant 88clions of th18 report. Oth•r Infomiatlon The other informallon comprfses the Informatlon Induded In the annual report other than the flnartkql 81atemènt$ and our auditor's report Ihereon. The trustees are responsible for the other information contained within the annual report. Our oplnion on the financlal 8lalemenls does not cover the other Informallon 8nd we do not èxpre88 any form of assurance concluslon thereon. Our rÈspon61bi1ily Is to read the other informatlon and. In doing so, consider whether the other Informatlon 18 malerlally incon818lenl ¥Mth the financlal 8lalement8 or our knowledge oblalned In the course of the audll, or Othe88 appears lo be materially mlsstaled. If we identfy such matsrial inconsistencies or app8renl melerial miss18lemen18, we 8re reqUId lo detemilne whether this give8 rfse lo a material mi88tstement In the fln8nclal slalement8 themselves. If. based on the work we have performed. we conclude that there is material misslatemenl of thi$ other inftsmation, we are required lo report that fact. We have nothing lo report in this regard. Mattern on whlch wg •Te requlrgd to roport by oXC¢Ptlon We have nothing lo report in respect of the following mallers in relatlon lo which the Ch8rill8s (Accounts and RepDrts) Regulations 2008 require us lo report lo you if, in our opinion.. the infomation given in the financlal statements Is Incon8Islent In any material respect wllh the Iru8tee8' report,, or sufficient accounting records havg not been kept., or thg financial slalements are not in agreement with the accounfjng records., or w8 have not recelved all the information and explanatlons we require for our audlt.
THE SIMON HELLER CHARITABLE SETTLEMENT INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE SIMON HELLER CHARITABLE SETTLEMENT Rosponslbllltles of trustse8 As explained more fully in the stat8menl of Iruslees, re5ponsibililies, the Irust8es are responslble for Ihg preparation of the finan¢lal 3tatement8 and for being sa118fied th81 they give a true and fair view, and for such intemal control as the trustèès determine is necessary to enable the preparation of financial $tslemenls that are free from material misslalemenl. whether due lo fraud or error. In preparing the financ181 statements, the trustees are re8ponslble lor assessing the chafily's ability to continue as a going concem. disclosing, as applicable, mallers related to golng concern 8nd uslng the golng concern basis of accounting unk*8S tha trustees thlhgr intend lo cease cper8tlon8, or have no reall8tiG altemative bul lo do so. Audltof$ r•8ponslbllltlo8 for tho audlt Of th• financlal ¥tatgmonts We have been appoinl8d as audllor under section 144 of the Charities Act 2011 and report In accordance vAlh the Act and relev8nt regulallon$ made or having èffect Ihereundei. Our objectives are lo obtain reasonable assurance about ether the flnanclal ststern¢nl$ as a whol• Are free from material misstslement, whether due lo fraud or error, and 10 188uè an audltorfs report that includes our oplnion. Reasonable 888urance is 8 high level of 88sur8nce bul18 not a guaranleg that an audit conducted in accordance wlth ISA8 IUKI will always detect a mal6r181 mlsstat8m8nl when 51 èxlsl8. IAls¥latements can arise from fraud or error and 8re consldered malerl81 If, Sndlvldually or in the oggregale, they Gould rea#blY be expected lo Influence tho economlc d8¢l$lon8 of users lakon on tho basi$ of tho$0 finanGial 8tatemenl8. Extènt to whlch th• audlt wa8 ¢on•ld•rnd cap•blo of dotèctlng Irr•gul•rltles, Includlng fraud and tho audlt re8pon8e Irregularilg¥. In¢ludlng fraud, are instanrA8 of nOnoMpli8nce th laws and regulallons. We deslgn procedure# in Ilne wrth our r&$pon$lbllltJ8$, oulllned abov0, to dete¢t material misslalements Sn respect ol Irregularille8, including fraud. The extent lo whlch our procedurgs are c8pablo of dglecting Irreguladlie8, Includlng fraud Is detailed below,, Al Ihg planning stage we identified area8 of 18ws and regulations that could re350n8bly be expgcted to have material effect on the financi81 slalemènls from our gèneral commerci418nd geclor experience 8nd through dl$¢us$lon wllh the dlrectors and other management, as requirgd by audllng $landard$. The potentlal gffts¢t ol any law8 and regulallon on the ffinanci81 slalemenls can vary conslder8bly. There are laws and regulations th81 dlreclly affect the financial Slalemenls {e.g. th• Companle8 Acll as well as many other op8rallonal laws and regulation8 where the consequences of non-compliance could have a malerlal effect on amounts or dl8dosure8 In the flnanclal 8tatemen18, Owing to the slze, nature and complexlty of the organ18ation and the 8ppllcable law8 and fegulalion8 10 whlch il musl adhere. the d8k of malerlal ml88latement W88 deemed to be low. Iherelor6 tha procedures performed by the audll198m were Ilmlled lo.. Communicating idenlified law5 and regulation8 al plannlng throughout the audit team lo r•maln al•rt to any indications of non<omplianc& throughout the audit. Enquiry of management and Ihoye charged with governance around actual and Poten81 Ill1gOn and clalms 88 well a8 non-compllance wlth laws and regulallon8. Revlewing financial stslement disclosures and testing lo supporting d(Kumenlallon to a88e88 compllance with applicable laws and regulations.
THE SIMON HELLER CHARITABLE SErrLEMENT INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE SIMON HELLER CHARITABLE SETTLEMENT We have asBes¥ed the overall susceptibility of the financlal statement8 lo m81erlal mls3ts1ement due to fraud as low because the nalurg of the business does not pathcularly lend Itself lo fraud. Management ovethde Is the most likety way in vthich fraud might pre59nt itself and as such 18 inherently high risk on any audtt. Management override, whlch may cause there lo be a material mi88latemenl within tho financlal slalem¢nl8. may present Itself in a number ofways, lor exampl8.' Overrfde of Inlem?I wnlrols {g.g, segregation of duties) Entering into transactions outside the norma5 Goursg of bu5in8SS, 95peclally wllh related parties Fraudulent rèvenue reco9nltlon, including ficlillou8 salas and Sales being reeorded in the WTong period. Pre88ntlng bla8 In accountlng ludgem8n18 and eslim8le8. partlcularly one8 that are key lo the buslne88. In order to reduce the fl8k of materlal mls8tatemgnt to an acceptable level, numerous aud proGedure8 were p&rf¢mi8d includlng.. Enqulrie8 of management as to vthether they had any krh)wledge of any g¢tual or 8UgPeCted fraud Ravlew of mat8rlal loumal entrles mada throughout the year as wèll as those made to prèparè the flnandal 8talem8nls Reviowlng the underlylng r8lonal8 behlnd tran8actlons In order to 988688 whether they were outslth t nomal course of buslnesg. Asse55ing vthelh•r management's ludgemenls and e8tlmale8 Indlcaled potèntlal blas, particul8fly th08a disclosed as key In note 2 to the financial st8lemenls that af6 morè 8usc8plibl8 to management blas. Review of legal f•a8 and corr•$pond•no with 8ollcltors 8nd regul8tC<8. Owlng lo the Inherent Ilmllatlons of an aud, there18 an unavoldable rlsk that we may not havo thtectod matorS81 mlsslalem&nt$ In the flnanclal statements, even though we have perfomied our audll in accordance witr audlllng 8landaTd¥. Furthermore, Bs wllh 811 audll8, there Is a hlgher rlsk of Irregularrtle8 lespecSally tho89 relats'ng lo fraud) being undeleclgd, a8 thèsè may Involve the overrfde of internal controls, collusion, intentlon81 omissions and mi5repr8senlallon3 etc. We are not respon&ble for prevenllng norFcompliance or fraud and ther¢for¢ cannot bts 8xp&¢ted lo delect all In8t8nce8 of such. Our audY( wa8 not desSgned lo Identify mlsst8lemgnl8 or other irregularllles that would not ba con81deied to be m8terfal lo the flnanclal slalemen18. The further removed non<ompliance with laws and rogulatlon8 18 from the events aThJ transacllons reflected in the financial slalements, the less Ilkely we would becom8 aware of11. A furthor descdpllon of our re8pon8ibllllle8 18 avallable on tho Flnan¢lal Repotlng Councll'8 web85le al.. http8'.11 www.fr¢.org.ukJaudllDrsre8ponslbllltles. This de8crfptlon forms p8rt of our audilof8 report. U•fj of our r•port Thls report Is made Solely to the charfty'8 tru81ees, a8 a body, in ac¢ordan¢• with part 4 of the Charllies (Accounts and Reports) Regulations 2008. Our audll work has been undertaken so that w8 might slate lo thè eharills Iruslèès Ih05e matters wo are required lo state lo them in an audilorfs report and for no other purpose. To the fv119st gxtent permilled by law, we do r1 accept or 8ssume respon8ibilily lo anyone other than the charty and the chaty,$ Iruslegs 88 a body. for our 8udS1 work, for thi8 report. or lor the oplnions wg h8vfr fomi¢d.
THE SIMON HELLER CHARITABLE SErrLEMENT INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE SIMON HELLER CHARITABLE SETTLEMENT knL Hart Shaw LLP 3 February 2025 Chartered AcGount•nts Statutory Audltor Europa Llnk Sheffleld Bu8lnes8 Park Sheffiald S9 IXU Hart Shaw LLP 18 8llglble for appolntmenl as audllor of the charity by vlrtuo of Its ellglbilty for aFpolntmont a8 audltor of a company undor 8e¢llon 1212 of the CompanlesAct 2008,
THE SIMON HELLER CHARITABLE SErrLEMENT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Unrnstrlcted Endowmfrnt funds fund8 2024 2024 Total Unrostrlcted Endowmont lunds fund• 2023 2023 Totsl 2024 2023 No Incom• from: Inv88tmenls 430,513 430.513 480.487 460,487 Expondlturo on: Raising fvnd5 Charilgble a1vIlle6 88,881 401,808 86,881 401,808 83,547 184,388 B3.547 184,386 Total expendlture 488.867 488,867 267,933 287,933 Net1088e8 on Investments 10 {124.9071 (301,4051 {428,312} 20,871 1188,5021 {185,6311 Net In¢omo11oxpgndltur•l Ind movompnt In fund8 1183,061) 1301.4051 1484.4861 213,425 {188,5021 28.923 R•conclll•tlon of fund•: Fund balances at 6 April 2023 1,846,037 5,480,897 7,328,734 1,632,812 5,887.199 7,299.811 Fund balance• at S Aprll 2024 1,e82,978 5.179,292 8,842,268 1,848.037 5,480,697 7,326,734 statement of financlal aclivlUe$ In¢lude$ all gain8 and105ses recognid in the year. Income and exyndlturo dgrfvo from contlnulng 8Gtlvllle8.
THE SIMON HELLER CHARITABLE SELEMENT 8ALANCE SHEET ASAT 5APRIL 2024 12 13 3,511,706 1,575,081 3,611.7(kl 2,11.303 a,IM.757 613,C 1,1SO.011 1.1151,096 686.317 Cath At b•nk In 1,781583 1.6,412 27,082 22.747 1.755.011 Tol•l •••Bt• l•M ourY•nt Ilqhllll ew,20 7a2&734 Th•funth olth• ch•rfty EThlowmirtfun 17 41793W4 1.882,976 4480.897 1.848,037 042268 7.328,TJ4 ent ppro¥•d tytrK tru•the•an 14 ju12020 AH•l•r
THE SIMON HELLER CHARITABLE SErrLEMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accountlng pollcl89 Charlty Informatlon The Slmon Haller Charlloble Setllem8nt 18 8 Tegistered charlty at The Charities Commission lor England 8nd Wales. The regl$ter¢d offi¢0 is 2nd Floor, 12 Little Portland Slreel. London, W1W 8BJ. 1.1 Accountlng convontlon The accounts have been prepared In a¢¢ordance wlth the Charf(ie8 Act 20118nd 'Attountsng and Repcrting by Charities., Slalemenl of Re¢gmmgnded Practice applicable to charflie$ preparing their accounts In accordance wllh the Financial Réportlng Standard appllcable in the UK and RepubllG of Ireland IFRS 1021" {a8 amended for accounting pertod8 ¢ommon¢lng frorn 1 January 20161. The charlly18 a Public Benefit Enlily as defined by FRS 102. Tha ¢harily has taken advantage of the provI81ons In tha SORP for charlues applylng FRS 102 Updats Bulletln 1 r1 to prepare a Slalement of C88h Flows. The fln8nd81 statements are prepared In Slerllng, whlch Is Ihe funcuonal ¢urrM¢y of the ¢harfty. Monetsry 8mounls In these fln8nclal statements are rounded lo the neare81 £. The accounts have been prepared under th• hl$lort¢al ¢o$l ¢onvenllon. modlfied lo IncIL8 Investment properties and certain finanual instruments at falr value. The prtnclp818ccounling policie8 adopted are 801 out below. 1.2 GoSng ¢on¢•m Al the Ilme of approvlng the fln8ncial 818lement¥, Ihg tru3le88 have a reasonable expectallon that the eharfty has adequate resources lo conllnu8 In opèrallon81 oxl$lgn¢e for the foreseeable future. Thu8 the trusl8e8 continue to adopt the going concem ba8is of accountlng in preparing th• fin8nclal statement8. 1.3 Ch•rftsbl• funds Unreslriclèd funds are available for use 81 the di8crelion of the Iru8lees In furtheran¢e ol Ihelr charftablè oblectlve8. Endowment fund8 are 8ublect 10 8peciflc condltlon¥ by donor8 that the capllal must b• malntslned by tho charity. 1.4 Incomlng rMource• Income 15 recognised vthen the charSty 18 legally enlrtled to il after any perfomanee cond6tlonB have been mel, the amounts can be measured rellably, and rt Is probable that income wll be rgcglved. 1.6 Resources expended Expftndilufg Is recognised once there18 a legal or constructiv8 obligation to transfer economSc benefit lo a thlrd paty, It is prob8ble that a transfer of economic benefits will bè required in settlgmenl, and the omount of the obligation ¢an be me•¥ured rellably. Expendituro is dalfIed by activity. The costs of each actSvity are made up of the totsl of dlr&t cosls and Sha costs, including support Costs involved in undertaking each activity. Direct costs attribulat4e to a Single actlvlty are allocated dbredly to that activity. Shared costs which contribute to more than one 8etivily and support costs which are not attrlbutsbb lo a single activity are apportioned between Ih08e actlvil*s on a b831$ consistent with the use of resources. Central $laff Go$ls arg allocated on the basis of lime spent, and depreciat¢on charge8 are allocated on the portlon of the asset's use. 10-
THE SIMON HELLER CHARITABLE SEThLEMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Ac¢ountlng pollclos IContlnu•dl 1.6 Investmont propgrtlos Investment property. whbth 1$ propety held lo e8m r6nl81$ andlor for capital appreciation, is initially rocognised al c081, whlch InclLbde$ the purch88e c08t and 8ny directly attributable 8xpenditur8. Subsequently il is measured al fair value al the reporting end datg. The surpSu$ or deficlt on revaluaOn Is recwnlsed in profil or loss. 1.7 Flx•d 18gt Investments Fixed asset investments are Inltlally moasurod al Iran8aclbn prlce exdudlng transactbn cost8, and are 8ubsequenlly measured al falr valuè al èach rgporting dale. Changes In folr valu• aro rgcoanised In nel Incomellexpendilurel for the year. Transadon Go¥ts are frxpensed as ineJJN8d. 1.8 Ca¥h •nd Gash equlv41onts C88h and cash equlvalenls Include cash in hand. dep08118 held 81 call with bank8, Other 8hort-term Ilquld Invegtmenls with tyiginal malurilles of three month8 or les8. and bank overdr8ft8. Bank overdraft8 are 6hown wlthln borrovAng¥ In current Ilabllhles. 1.9 Flnanclal In¥trument• Thè charlty h98 aloCte(I to apply the provi8lon8 of Sectlon 11 'Basl¢ FSnanclal Instruments, 8nd Sectlon 12 'Other Financial In5trumen1518sue8' of FRS 102 to all of Ils flnan¢S0l In$lrumenl8. Flnanclal In8lrum$nls are re¢ognlsed In the charlty8 balance Sheet %then the Char become8 paty to th8 ¢onlraclual prov18ion8 of the Inslrumenl. Fln8ncial asse18 and liabllitles are offsat. wmh the n•1 amounts presonled In the financial statement$, whon there 18 a legally enforceable right to 881 off thè rècognised amounts and there 18 an Intention to settle on 8 not bas18 or lo reallse the asset and sellla the1I8billty multaneOUSly. Baslc Ilnanclal as$ots Baslc flnancial a85et8, %thlch Include debtor8 and eash and bank b81ances, 8re Inltlally mea8ured at transaction price includlng transaction cos18 and ar& 8ub$¢qu¢ntly ¢arried a18m088 co81 usSng the effecdve intere81 method unle88 the arrangement constitute8 8 financing Irans3cllon, where the Iransactlon Is mg8¥ured al the present value of the future receipts dI8counled 818 market rale of interest. Flnanclal 888818 das$lfied aB recelvable wllhln one year are not amortlsed. Baslc Iln•n¢lal Ilabllltl•s 888lc flnancial liablllti¢$, inGludlng creditors and bank loans are Inltlally recognl8ed al tran3actlon price unles8 the arrangement con8lilules a financing transaction, where the debt Instrument Is me88urèd at th¢ present value of the future payments dIOU1ed al a markol rale of interest, Flnanclal 118billties classifièd as payable thln one year are not Amorused. 1.10 Employoo bgnofft8 The c081 of any unused holiday enlillement is recogni¥od in the period in whith the employee's servlce8 are recelved. Termin) beneflts are recognlsed Immedialety as an expense vth6n the charity is demon$lrably committed 1018miinale the employment of an employee or lo provlde lermln8llon benefit5. 11
THE SIMON HELLER CHARITABLE SErrLEMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Crltl¢al a¢¢ountlng e8llmat88 and ludg¢m8nts In the application of thè charity's accounting pollcle8, the Irust&e$ are requlred lo m8kè jud9ements, eslimale8 and assumptions about the cafrying amount of assets and liabilities that are not rtadlly apparent trom other 80urces. The eslim8te8 and assoaated assumptions are based on hlstorical exp&rience and other factrys that aro considered to be relevant. A¢tu81 results may differ from these e$limate¥. The estimates and und8dying assumptions are revlewed on an ongolng ba818. Rev181ons to occounllng e¥timales are r8cogni8ed in the period in which thè Oslimats is revised where the r¢vislon aff8Gt8 cnly th81 peAod, or Sn th8 period ol thg revlsion and future period$ where the revision affacls both current and future periods. Incom• from InvMtm•nts Unr•¥trlct•d Unr•8trlct•d fund• funds 2024 2023 Income from118ted Inv8$tmonts Income from propety Inlere$l re¢glv4bl• 102,299 201,738 126,478 95.747 253,632 111,108 430,513 480,487 Exp•ndltur• on ral•lng fundg Unrnstrlct•d Unrn8trlct•d fund* fund• 2024 2023 Trndlng cogt8 Inve¥tmgnl proporty cost8 88,861 83,547 12-
THE SIMON HELLER CHARITABLE SEThLEMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Expgndltyro on ¢harltable acllvltles Charltablg Grnnts 2024 Charltablo Grants 2023 Dlr•ct ¢ts Staff costs 28,023 Grant fundlng of activitie818ee note 61 369.492 180,011 Share of support •nd gov•rn4nc8 costs note 71 Governance 4,291 4,375 401,808 184.388 Analy•ls by fund Unr•$trl¢led fundi 401,806 184,388 Gr•nts p•y•ble 2024 2023 Grant8 to Inslltullon8 389,492 180.011 The tru$t¢o$ ¢on$klor that 88 Ihls IB a prfvale charllable tru81 lo whlch no publlc frJndB have boen contrfbuled. the disclo$uro roqulr•monls relating to grants In exc888 of £1,000 do not apply as the In¢lu8itsn of Such Infom8tlon would. In Certain elrcumstances, be Ilkely lo prejudice tho furtherance of the purposes of the charllable tru81 or reclplent. Full delalls oltha$• grant$ wlll b• $upplSed lo the Charlly Comml881oner•. Support Costs 8upport Governance costs costs 2024 Support Oov•manc• costs o¥ts 2023 Bank ¢horge8 34 27 27 Audit fees Accountsncy 620 3,637 620 3.637 830 3,718 830 3,718 34 4.257 4,291 27 4,348 4,375 Analysed b8tsve8n CharltabSe adv86 4,291 4.291 4,375 4,375 Govemance costs includes payments to Ihg auditors of £620 {2023- £6301 for audit fees. 13.
THE SIMON HELLER CHARITABLE SEThLEMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Tru¥tees None of tho Iruslees lor any persons connected vAlh Ihom) r6celvo(l any remuneratlon or payment ol expense$ from the charity during the year. Employ Numbor of gmployoes The average monthly number of employees during the year wa8.. 2024 Numb•r 2023 Numb•r Employm•nt 2024 2023 Wagès and $818rl88 Social securlty c0818 25,123 2.900 28,023 Thoffj weffj no employ688 vth08e annual remunoratlon w88 more thon £60,000. 10 G•ln• and lo•M• on Inve•tmonts Unmtrlctsd Endowmont funds fund8 2024 2024 Total Unrn•trfctsd Endowmont fund• fund• 2023 2022 Total 2024 2023 Gainslllo88e81 ar181ng on.. Revalugtion of Inveglmenl$ 1124,907) 1301.4051 1428.312) 20,871 1186,5021 1185,031) 11 Taxatk•n Th8 charfty18 exempt from taxalicrb on118 aclivllles because all its income18 applled for charllable purp0808. 12 Inv•8tmènt property 2024 Falr valu• At 8April 2023 and 5 Aprll 2024 3.511,706 14-
THE SIMON HELLER CHARITABLE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 12 Invgstmgnt property {Contlnuodl Investment property ¢ompri$¢s ol three wholly owned prop8rt188 8nd 8 property of which the charity own8 41.67%. The fair value of the wholly owned inv8Stmenl property h88 be$n arrived at on the bas18 of valuaOn c8rrled out al 31 March 2023 ty the trustees, The part own&d propety wa8 V8lued on 6 November 2023 by an Indap8ndent ffim of chartered surveyor8, who are not connected to th8 Charity. 13 Flx•d amèt InvMtmanl• Llst•d Unllst•d Inv•¥tments InvMtm•nt• Tot•1 Co•t or v•luatlon At 6 Aprll 2023 Valuauon change8 2,000,363 {426,312) 1.000 2,001,363 1426,3121 At 5 April 2024 1.574.051 1.000 1,575,051 Carrylno amount At 05 Aprll 2024 1.574.051 1,000 1,575,051 At 05 Aprll 2023 2,000,383 1,000 2,001,363 Flxod aM•t Inv••tm•nts r•v•lu•d The1I8led Inv881menl8 are rev81ued at thelr year end ml&mJrkel values whlch are oblalned from Tho London Stock Exchan9•. The hSJlorlcal c08t of the118led Inve8lmgnl$ 1$ not known. Flxod Invo8tmont8 not cirrlgd at mark•t valu• The unllsled Inve81ments 8re valued 81 cost le88 Imp4lTment. 14 Flnanclal In•truments 2024 2023 Carrylng amount of flnJn¢l•l ass•t• Debt instruments m8asured at amortised cost In8trumen18 measured at falr value through proflt or1088 1,150,011 2,001,363 1,151.095 2,250,318 Carrylng amount of flnanclal Ilabllltl08 Measured at 8mortl$ed ¢o$l 9,418 9,150 15 D•btor8 2024 2023 Amgunts falllng dug thIn one year: Other debtor8 1,150.011 1,151.095 15-
THE SIMON HELLER CHARITABLE SErrLEMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 18 Cr•dltors: amounts falllng duo wlthln one year 2024 2023 Other taxatlon and $o¢ial 8ecuTity Other creditor8 Accru81$ and deforred Income 17,634 3,3e3 6,055 13.591 4,083 5,073 27,052 22,747 17 Endowm•nt fund• End¢)wment fund8 r8pres6nt 888818 whlch musl be held permanently by th8 charfty. Incom8 8ri8ing on i endowment fund8 can be used In o¢¢ord8n¢o wllh thg objects of the charlty and Is Included 88 unm8tNct¢d Income. Any ¢apltal gain$ or108808 arfslng on tho Jssets fom part of th8 fund. B•l4n¢• It 6 Aprll 2022 l*n¢• It •xp•nd•d 8Apdl 2023 R•sourc•• •xp•ndgd e•l•n It 6Aprll 2024 Expendable •ndowm•nts Capllal Fund 5.887.199 1188,5021 5,480,897 1301,4051 5,179,292 5.667,199 1186,5021 5,480,897 1301,4051 5,179,292 The Capltal Fund con81618 of Ihe orfglnal fund8 ve81ed In the Tru8lee8 by the Settler, log8lh8r wltt) all olhor monoy. inv88tments and property 8ub8equenlly transferred, and Includes rea118ed galn8 made before 1993. Under clau8e 3lbl of the Settlement Deed, thè Tru8tee8 are glven the power lo accumulate 811 or any part ol the Incomg of the Trust Funds for a porlod 0121 y•4r8 liom th? date of the SetUoment116 October 19721 by Investing Ihg same In Inve$tm8nl8 85 an accro1Son lo the c8pltal of the property from whlch Such Income •ro89 and a8 one fvnd therewlh for all purpo8•S. The Trustees are empowered to apply both the catal and the Incomg for charhable purpoJe8. 18 Analy818 ol not a88•ts betw••n fund• Unre$trlct•d Endowment funds funds 2024 2024 Total 2024 Fund balanus at 5 Aprll 2024 are rgpresont•d by: Investment proportle8 Investments Current a$$gW(liabilitiesl 3.511,706 1,377,284 290,302 3.511.70fj 1,575,051 1,755,511 197,787 1,465,209 1.662.976 5,179,292 6.842,268 16-
THE SIMON HELLER CHARITABLE SErrLEMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 18 Anatysls of net au•ts bthggn fund8 IContlnu•d) Unr68trfct¢d Endowment lunds fvnds 2023 2023 Tot•1 2023 Fund b•l#nu¥ at 6 Aprll 2023 arn repr•sgnt?d by: Investment propérties Investment8 Current as8etsllliabllrtlo$l 3,511,708 1.678.689 290,302 3,611,708 2,001,363 1.813,685 322,674 1,523,363 1,846,037 5.480,697 7,326.734 19 R•lat•d party tran•actlon8 Tran8actlon• wlth rgl•led partle• Durlng tho year th• ch8rfty ontered Into the followlng Ir8n8a¢llon8 vAth related partlgs.. Office prem18•8, proporty management, 9•n•ral management, accounllng and 8dmlnl8trglon seNlc08 ar8 provlded by London & A88ocialed Prowrties PIG I'LAP I, a company of I5¢h John and Andrew Heller are alBO director'8 8nd Morv8n Hellér is a shareholder. The consldeiadon lor the provlsion for these servlces 48 mel by a flxed management fee of £5.000 per 8nnum. Durlng the year. Nlwla Bl8ke (Daughter of Morven H•ll•r} w88 employed by the charlty. Sho rocelved remuneraon of £25,123. Included In other debtor$18 a loan of £700,00012023.' £700.000} lo LAP al 8n Interest rate ot 9%. durlng the year Int8m818mounling lo £83,000 {2023'. £83.000) w88 r8¢elve(l. Included in other debtors are flve loans lolalling £400,000 12023., £400,000) lo connected parties at an Interest rale of11 %. dudng the yeai Snlere818mounlng to £44,00012023'. £44,000> was reeèivfyd. Induded In other ¢rgdllors its £3,36312023.' £4,083> due lo Mlchael and Morven Heller Chantable Founda160n. 17-