Ch•rlty r•glstratlon nUM￿r 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 I￿1r attounls in accordance wllh the Fin￿¢1￿1 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 aGli￿t￿5 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 &Ch￿VeM￿ntS 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¢Mp￿V 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 ac11￿1588 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 cha￿ty 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 signif￿an1 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 Audito￿8 responsibilit￿S 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 Othe￿88 appears lo be materially mlsstaled. If we identfy such matsrial inconsistencies or app8renl melerial miss18lemen18, we 8re reqUI￿d 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$0 finanGial 8tatemenl8. Extènt to whlch th• audlt wa8 ¢on•ld•rnd cap•blo of dotèctlng Irr•gul•rltles, Includlng fraud and tho audlt re8pon8e Irregularilg¥. In¢ludlng fraud, are instanrA8 of nOn￿oMpli8nce ￿th laws and regulallons. We deslgn procedure# in Ilne wrth our r&$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 was reeèivfyd. Induded In other ¢rgdllors its £3,36312023.' £4,083> due lo Mlchael and Morven Heller Chantable Founda160n. 17-