athrityre815tradoD number 266517 The Mosselson Charitable Trust Unaudited financial statements for the year ended 30 September 2023 The Mosse]son CbarftsbleThtst Legal aDd admln15tsative lttfr>nnatlon TThstees M E M055elson l MosseLwn Cbarlty Number 266517 Prlndpal address Denmoss House 10 Creenland StrÈet don NWIOND I￿de￿eDd¢llt exan￿ller Helen ￿￿kie DChA Saffery LI 71 Queen Wi¢toria Srreer ndon EC4V 4BE The Mosselson Charftable Tnut Contents Tn]stres' tEport Independentexamlnevs report StrdtementoffJnanLial arrivities BalaTh￿ sheet Note5 tD the financial statements 6-10 The Mosse150n Charftable Trust Trusrees, report FOT theyear ended 30 Sept¢Jnber2023 The trusLees presentthelr reportand finanoal inforniation forth¢ year ended 30 September Z023. The accounts have been prepared in accordance with the accounting polioes set out in Dote i to the accounts and complywith the charity's governing documenL applicable lawand the requiremenrs of the Statement of Recommended Prnctice.-Accounting and Reporting by Clwities-. l*gal oble¢¢s The Charity's legal objects. as set out in the TrustDeed dated 16 Oaober 1973. are to carryout wch le8ally charitable purposes in such marrerlo all respeLts as theTrustees may in theirabsolute discrttion think fiL Oblectlvt5 and actfvittes The Charl￿S objettlrt the shorttem is to provide donadons to worthwhfile cause& e5pedalty In the fields of education. medhcine and medical researth women and children's supportand wel(3re. religioTh and social areas. The Charity's obFecr in the longertenn is to estsblish a Studentscholarshlp Progrdmme atgraduate level provide finanaal a5sithnce in diverse fields of swdywith a bias toward higher educatio The trustees have paid due regard to guidance on publicbenefitissued by the Chariry Commission in deciding what attivities the Charity should under>ke. Achieyemetsts and perforniall During the year the Charity made donations to variouscharitable obiecDves the fields ofmedicine and medical research, wornen and children's supportand welfare. religio￿ education and social areas. The amount of¢haritable donations ttlade duringtheyw athoubted to £108.410. Flnancial review The Charity's income is mainly derived from inrerest received from a bankd¢positactounL Expenditure. primarilyon charitable acuvitses. exceeded income by£104.808 and thts has been deduded from the unrestricted funds. which at the bajan￿ sheetdate stood at£3.008,937. Postyear end eveDts During theyear a review of the charitys historicexpenth.ture hasbeen Undertaken and Irwas wnduded thata number ofpayments had been ll￿de fN)m the tharitywhith were notfor tharitsble purposes. On the basis of historical advice raken by the trustees. stsme non-charirable payments were made in respertof personal expenditure incurred by trustees. frdmily members incorreojy. These p8￿￿eTrts were made appmximatrly between theyears of2000-2018. Since the yearend the amount has been quantified and HMRC'S official rdte of interest applied and as a resulL a payment of £889.056.50 has been received from Marian Mosse150n, a trustee of the chariry, on 8 March 2024. The charity h3s made no further ntsn-charirable payments since 2018 and the matter has been reported to the Charity Commission. Keserves policy The reserves are being retalned as they are intended fora substsDlial capits] projectto create a'scholarship fund, for needy students at Univer5itie& The trt￿$ have assessed the majorrlsks towhith thecharity is exposedand are satisfied thatsystems are In place to miti￿te exposu￿ to the major ri51 Struciure.8overnance and ll￿nagement The Charitywas estsblished by a charitable tsl￿tdeedo￿ 16 Ortober 197 The Mosselwn CharfitsbleTrwst Trnstees, Itport Forthe year ended 30 September 2023 The m]stees who served during the year and up to thedate ofsignatswe ofthe finanaal s¢at£ments were.. M E Mosselson l Mosse15on Appolnrmentoftsw5tee5 is governed bytheTrustDeed ofthe charity.The Board tsfTn￿ is authorised to appoint newtruswto fill V3￿naeS arisiDgthrough resi8nation ordeath of an aisti.ng trustee. ststemeDtof trustee5' rtsponslbllfitles Thetrustees are responsible frjrpreparingthetrustees. reportand the finandal statements in accordancewith applicable law and United K]ngdom AccountiDgStandard% (Unfted Kingdom GeDeraIlyAtY￿trd Accounti Praaice). The law applicable to charities in En*nd &Wales requiresthe trusteesto prepare financial sutements for each fmancial yearwhich give a true and fair view of the mte of affairs of the chariry for that period. In preparing these financial sratemenrs. the trustees are required to: • selertsuitsbleattountin8 policiesand then appty thejn cotisistenty, observe the methods and prinoples in the Charitie5 SORP (FRS 102)- make judgements and estimates that #re reasonable and prndeTrt Statr whether applicable accountingstaDd3rds have been followed. subiertto any material depamires dL5closed and explained in the financial statemen¢*. aDd prepare the financial statements on the goingconcern bas&s unless itts appTopriate to PTfSUm¢ that the tharty I￿11 continue in business The truthes are rwnsible for keeping properaccouDtin8 recordsthatdisdose with reasonableaccuracyat any time the financial position of the charity and enablethern to ensuretharthe financ6al sratements comply with the Charities Att 2011.They are also re5ponsfble for safeguarding the a55ets oFthe charity and hentr for taking reasonable steps forthe preventionand detection of frayd atHI Other1r￿Ul3tit6e& The trustees, reportwas apprnv¢d bythe Board ofTnts M E MossetsoD Trustee Dated.. 21111r2024 The Mosselson Cbarttsble Tryst Independentexawiner's Teport Ib the truste¢5 of the Mosselson Charitsble I reportto the trustees on my examioation ofthe accounts of The Mosselson Charitsble Trust [theTrust} for the year ended 30 September 2023. Respecdve RespoD51bilitles of trus*es a*d exawlner As the d)aritytrustees ofthe Trustyou are responsible forthe preparation of the accounts in atxordartce with the requlrernents oftheCharitie5 AttZOII ['the Arf). I reportin re5pectofmyexamination of theThJsYs accounts carried out under sertion 145 ofthe 2011 Attand in arrying out my examination I have followed all the applicable DireaioTts given by thecharity Commission under sectloD 145(5)(b) oFthe 2011 ACL Basls of IDdepertdeDtexarnine￿$ report My examinarion was carried outin accordance withthe getteral DireLtions given by the Charity Commission, An examinauon include$ 3 review of the accountingrecords keptby the ctjarity and a compartson of the accounts presented with those records. Italso indudes ￿nSIderation of anyun￿l iteTDS ordtsdosures in the accounts. aDd seeking explan3ts0ns fromyou as trusrees concerningany suth mattet% The procedures undertaken do not provide all the evidence that would be required in an auditand consequently no opinion i5 g]"YeD as tts whether the accounts prepare a'true and fairview aDd the report is limited to those matters setout in the 5tatemenrbelow. Independentexamlner's ststeD￿nt- matterOf¢oll￿r￿ Id¢ntmed I have co]nple*d my exarnination. I have idenllfied a matter ofconcern ITh My report as set out in note 9 . relatillg to paytnents made by the Trust in previous years not made in respertofcharitable purposes and instead were made to meet personal expenditure in respertofthe settloTS of theTrust aod various Trlated parties. The amount which has been estimated to have been spenton suth donation5 is £889.056.50 and since the year end has been paid to the Trust by the Trustee5. No debtor is induded in th¢ fu￿nCl41 statements Ln respect ofthis amounL I confirm thatno othermaterial matters have cometo myaitention ID COAnertionwIth the examlnadoo 8iving me cause to believe that in any rnaterjal re5peLt l.accounting records were not kept in respertof theTn￿o5 requlred bysectfion 130 of theA¢ or Z. the accounts do notaccord with those records.. or 3. the accounts do n0tcomp1y￿th the appliable requirernents concerningtheform and content of accounts set out in the Charities (Accounts attd Report5] Regulations 2008 other than any requirement thatthe accounts give a 'true and fair view,. whith is nota maryer considered as part ofan independerLt e%aminauon. Exceptfor the matter noted above. I have no concernsand have come across no matters in connection with the exarnination to which attention should be drnwn in this ￿pOrt in order fo enable a pmperunderstanding of the accounts to be reathe KL. ILIJ 6 Decem￿[ 2024 Helen Wilkle FCA DChA Saffery U Date: 71 Quttn Wirtori• Stre¢t ndon EC4V4BE The Mossel$4D Cbarltsble Th Sta*mentof fiDanclaJ acdvldes Forthe year ended 30 September ZOZ3 2023 2022 Incorne from: Investmetlt Income 32.443 10.403 32.443 10.403 F￿endItUTe on: Charitable actkvitie5 137.251 90336 137.251 90.336 Net expenditure forthe ￿ar/ Netmovewetstln fiwds (104*08) [79,933) Recondlladon offvtsd*. Totsl funds brought forwdrd 3.113.745 3.193.678 Totsl fvnds carried forward 3.008.937 3,113.745 The Mossebon Cbarit¥ble Trust Balance 5he•t As at 30 Septemb¢r 2023 Z023 Z022 Note5 Currtntassets Debtors 3.040,497 3,128.745 CuTrentllabUllle5 Trade creditors (3JOO) 128.260) (15.000) (31.560) (Is.000) Nèt currentassets 3.008.937 3.113.745 Income fuDds UDrestrirted funds 31108.937 3.113,74S 3.008,937 3,113,745 21111r2024 and a The flnanc5al ststements were approved by theboard of trustees and authotised forissue ott_ sigThed on its behalf by= M E Mosselson Q￿rity Re￿100￿ Nth Z66517 The Mosselson Charltable Tn￿t Notesto the fi￿and31 slatements Rirth¢ yearended 30 September2023 AccountiDgpollties 1.1 (Jwlty InfoTJDadoD The Mosselson Charlrable Tn￿1 isa dwityestsblished bya charitable tnwdeed OD 16 OLtober 1973. 1.2 Accountingcottventio The financial sratements have been prepared in accordance with the CharSty'S trurtderf the Charlues Art 2011. FILS 102"The Financial Reporting Standard applicable in the UK and Republic of Ireland- CFRS 102") and the Charities SORP"Attounting and Reporring by the Charities: Ststetnent of Recommended Practice applicable to charitie5 preparingaccounts in acconlaoce with the Finanaai Reportin8 Standard applicable in the UKand Ireland (FRS 102)" (effective I lanuary 2019).The tharityi5 a public Benefit Enty as defined by FBS 102. The fjnancial statements have been prepared to give2true and fair￿eW and have departed from the Charities (Accounts and Reports) Regulations 2008 onty ro the extentrequired to providea true and fair view.This departure has involved follo￿ng the StsternentofRecommellded Praoice [FRS 102} fdther than Accounllng and Reponingby I￿araDes. Statementof RecomMe￿ded Prnctice (rtvised 2005} whith has been withdrawn. The Charity taken advantsge of the provisfiom In the charities SORP notto prepaTe a Ststernent of Cath F]ow& The financial sratements aty prepared in strrlin& which is the functionaj LIErrenty of the charity. Monetary amounts in these finanaal statements are rounded to the nearest£ The finanaal statements have been prepared underthe his￿￿¢cO5t(Ony¢Dtt(lIL The principal accounting policies adopted are set out belo 1.3 Going CODceTn Atthe time of appmviDgthe fiDaDciai ststements.the trustEe5 have a reasonable expertatton thatthe Chariry h2s adequate resources to continue in operational ex¥stence forthe foreseeable fU￿re. Thus the trustre5 continue to adoptthe goingconcern basis of accouDtiDg in prepariDg the fir￿￿¢141 statements. 1.4 Charltable funds UnrestriLtrd funds areavaljable foruse atthe disLTrlion of the t￿￿ in fi￿eTall£¢ of their d￿ritable objectlve& 1.5 lllcome Incorne is recognised when the Charity is legally entitrd ts) itafterany performance conditions have been meL the amourLts can be me&sured reliably. and it ￿ probable that incornewill be received. 1.6 ExpeDditsre Expctsdi￿rC is accountcd for on on acmwls basis and has bccn dasstficd und¢rhcadiThgs that aggr¢sJtc au cost ￿lated to the otegory. Where costs cannot be dirertjyattriburable to particular heading5 they have been allocated to acttvitse5 on a basis tonsistentwiththe use of resource& 1.7 Cash and ca5b equlyalellts Cash and cash equirdlents indude (ash in hand deposits held atoll with banks. othershort-tern) Ilquid unvestsnents wlth original ma￿ritieS of three months or less and bank overdrafts. Bankoverdrafts are shown within t*)rmwiD8S ID airrent liabilitie& The Mosselson Charttable Trust Notes to the 5tatrmeDts (contlnuedj Forthe year ended 30 Stptembtr ZOZ3 Accounthig polldes (condnu¢d) 1.8 Fthancial finstr￿ments The Charity elected to appty the prOV￿10th$ of Sertion Il'Basic Finanoal Instruments, and Sertion IZ 'Other Finanoal Instruments Issues. if FRS 102 to all its financial instnunent& Financial Instn￿ents are recwised in the Charity's balanceshtttwhen the tharity becomes partyto the contracwal provisions of the instrumenL FinanLial assets and liabilities areoffseLwIth the neramoullts presented in the financial statements, when there is a leylly enforceable rightto set off the recognised amounts and there is an Intention t05ettle on Det basis or to realise thea5setand setde the IhabilitysimultarAeously- BoTlcflnonciolossets Baskc finaDcia] assets. which indude debtots and osh and bas￿ debtors are inltially measured ar transaction prices induding trdnsaction costs and are sub5equentlycamiet atamortised cost using the effective interest method unless the arran8em¢nt constibJtes a financkng trdllsaction, where the transaction is measured atthe presentvalue of the fubJre receipts discounted at a market rate of interest Financial assets dassified as receivable within one yearare notallhorbsed Basicllnanddllloblllties Basic flnancial liabllities indudin8creditors and bank loans are initially recogni5ed attransaction price unless the arrJogement constitutes a financjngtrans8ctio￿where the debt in5trumentis measured ar the present value of the future payments discounted ata marketrate of interesL Flrwitial liabilities d3ssified as payable within year att ttotarDortise Dererognldon offinaRaalllablll¢i¢s Financial liabdiues are derecoguised when theCtwi￿5 contracwal obli8auon5 exptre or are disdhargedor an¢elled. ves¢mentln¢ome 2023 2022 Interest receivable 32.U3 10.403 The Mosselsott Cb•rftabk Th Notesto ¢he sktemnts (contlDu¢d) Forthe year ended 30 September 20Z3 aw4table actlvld•s 2023 2022 DoBatloDS Hèalth and Medical Macmillan Cancersupport Stlohn and St Elizabeth Hospitsl Maggie'5 Imperial Health Charity Worthing Mencap We5tSu55ex Mind R Baby Foundarion Inc Chai Cancer Care Worthing Mayorf5 Chaiity ShoutWorthin8 Soup 38.500 10.000 5.000 20.000 5.000 5.000 s.000 5.000 5.000 4.502 5,000 500 5.000 350 5.000 Youth and Edurtioo Crowd Fundlng 15tegemee Children's Program supers￿rArts Umass Donation Halcyon Bursary Fund 500 8,480 5,000 12342 4599 5.000 Reli85oy5 and Other Friends of Ohel Trust Chabad ofshort Hills Myatts Fields Park Cheyrdh Kadisha Eternal Care UK IAmited lust Giving WarerAid lewish Care 2.500 4.245 5.000 108 4.518 ioi 2.500 5.000 SAIOO 108.410 75.335 Governance ujsts Professional fees Bank charges 28￿36 15,000 137.251 90,336 Tbe Mosselsoll awitrbl¢ TTh￿t Notes ty the financlai $￿te￿llents (continued) Forthe year ended 30 Septembtr 2023 Cbaritable a¢trldes (contlnued) Anatysts of PTofesslonal fees 2023 2022 Independent examination serytce5 Accountancy and advtsoryservices 10.176 18.660 15.000 28.836 15.000 The servites setoutabove were prDvided bythe firm which performs the independentexamination of the accounts No otherservices were provided bythatfirn) in the periLwl None of the trustees (orany perstsnsconlleLThlwith them) received any retDuneration and no expenses were paid for on behalf of tnths or reimbursed ro them durin¥theyear. orprioryear. Employees The average monthty Tjurnber ofemployees duringtheyearwas: 2023 2022 Total There were no tmployeeswhoseaDnual remutterntfion was morethan£60,000. Debts)rs AJDounts WID8due wlthln one)w. Z023 2022 Amounrsdue from related parties 3.040.497 3.128.745 Creditors: amounts fallln8due wlthiD one year. ZOZ3 2022 Trdde creditors Accruals 3300 28,260 15.000 31560 15.000 The MosselsoD Cb•Tltable Trust Notesto the finandal thtemtnts (COhltiDued) For theyearended 30 Stptember2023 At 30 September 2023. £2.919.036 was due from c1tyTn￿t Limitsd a tompany in whith the trustees are directOTS (2022: £3.019.074J. The amount relates to a depositaccountheld byCiryTrnst Limlted on behalf of The Mosseison CharitableTrusL The movement in the year ￿lateS ro the following trans3crion5'. £108.410 of charitsble donations. £12.276 of accountancy fees and £5 ofbank dlarges being paid from the deposit account and £20.653 of interest earned on the deposit accounL At 30 September 2023. £121.460 was due from Marian Mossels0￿ a trustee of the Charity (2022.. £109,671). The £11.790 increase relates to an adjustmentto reco8nise interestwhich has accrued on the loaTr at HMRC'S Official RatÉ of Interesrsince its Ineepti¢iD ID 2019.The loan was notSe0￿e￿ and was fvl]y repaid by Marian on 11 April 2024. Postyear end events During the year a revtew of the thariws historlcexpenditure has been undertaken and It￿a$ conc]uded that a numberofpaytnents had been made from the charity whith were not for charitable purposes. On the basts of historical advice tsken by thetru5W. some Don-d￿n￿ble payments were made in respect of personal expendtture incurred by trnstees. familymembeT5 incorrectly. These payments were made approximately between the years of 2000-2018. Since the yearend the amouDthas been quantified and HMRC'S official rate of interesrapplied and as a resulL a payment of £889.056.50 has been rffeived from Marian MosselsoTh a In￿tee ofthe charity. on 8 March 2024.The charity has made no fvrther non-charitable payrnents since 2018 and the matter has been reported tD the Charitycommissio io