2025-04-05-accounts

Charity Registration No. 274312

THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	Dr A Diamond OBE Hon DBA MCSI, Chairman
	Mr J R Kropman LLB, Vice Chairman
	Mr J Bennett
	Mr N Edmonds
	Mrs N Goldman
Charity number	274312
Independent examiner	Morris Lane
	31/33 Commercial Road
	Poole
	Dorset
	BH14 0HU
Bankers	Lloyds Private Banking
	25 Gresham Street
	London
	EC2V 7HN
	HSBC UK Bank PLC
	8 Cork Street
	London
	W1S 3LJ
Solicitors	JMW Solicitors LLP
	Kings House
	36-37 King Street
	London
	EC2V 8BB
Stockbrokers	HSBC UK Bank PLC
	8 Cork Street
	London
	W1S 3LJ

THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

CONTENTS

	Page
Trustees' report	1 - 5
Independent examiner's report	6 - 7
Statement of financial activities	8
Statement of financial position	9
Notes to the financial statements	10 - 15

THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2025

The Trustees present their annual report together with the financial statements of The Alan and Sheila Diamond Charitable Trust for the period from 6 April 2024 to 5 April 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Charities Act 2011, in preparing the annual report and financial statements.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing documentation, applicable law and the requirements of the SORP.

Objectives and Activities

Policies and objectives

Objects

The Object of the charity is to provide benefits for charitable institutions and foundations.

Objectives

The main objective of the Trustees in the year was to maintain the investment income and consider the effect the present financial situation would mean for the charity and to act accordingly.

Strategies for achieving objectives

The levels of investment were maintained well during the year therefore giving no concern to the Trustees on the level of monies donated.

Donation policy

The charity supports public benefit charitable causes within its policies. It does not accept unsolicited applications for donations.

Achievements and performance

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.

• 1 -

THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Review of activities

The Charitable Trust was able to make donations of £143,356 during the year. This total included a number of individual donations of £2,000 or more:

	£
Beit Halochem UK	2,500
Cancer Research UK	2,500
Chai Cancer Care	2,000
Combat Stress	5,000
Community Security Trust	11,000
Fight for Sight	5,000
Great Ormond Street Hospital Charity	2,000
Holocaust Educational Trust	2,000
Jewish Blind and Disabled	2,000
Magen David Adom UK	25,000
Norwood	10,000
Royal Air Force Benevolent Fund	2,500
Sidney Sussex College	10,000
The Royal Hospital Chelsea Appeal Ltd	2,000
The Royal Society of Medicine	10,000
UK Friends of Beit Issie Shapiro	4,000
United Synagogue	2,500
Western Marble Arch Synagogue	23,506
Youth Aliyah Child Rescue	5,000

• 2 -

THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Financial review

The Statement of Financial Activities for the year is set out on page 8 of the financial statements.

The Trust portfolio has increased in value from £4,160,857 to £4,547,677, an increase of £386,820. This is partially explained by gifts donated to the Trust by Alan Diamond of £278,157. In the current climate we are witnessing geopolitical instability and it is felt unwise to make predictions going forward.

The dividend and interest income increased from £169,525 to £185,535 and in the year we carried a cash balance of £111,317.

Our expenses rose to £26,087 as a result of the change in the management of the investment portfolio.

We supported 39 good causes of which 19 charities received benefactions of more than £2,000. The Trust made donations of £143,356 during the year. Whilst we supported more charities in the year, compared with the previous year, the amount donated was lower due to a one off donation in the previous year.

Investment policy

There are no restrictions on the charity's power to invest. The investment strategy is to invest in UK equities listed on the London Stock Exchange of a low risk nature. Targets are set by the Trustees for projecting the dividend income in the year and this is reviewed annually.

The actual dividend income and interest income was £185,535 and was within the projections estimated by the Trustees. The income was then used to make donations in accordance with the object of the charity.

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 the Accounting Policies.

Reserves policy

It is the policy of the charity to maintain unrestricted funds and an endowment fund. All income received in the year is matched with donations made in the year and to cover the management and administration expenses for that period. Any monies not expended are taken to the unrestricted general fund at the year end. Gains and losses arising on investments are taken straight to the unrestricted fund. This in total provides sufficient funds to respond to any emergency expenditure.

Risk management

The Trustees have examined the major risks affecting the charity and have ensured that adequate systems are in place in order to mitigate those risks.

Plans for future periods

The charity plans to continue donating to charitable institutions and foundations using its investment income next year.

• 3 -

THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Structure, governance and management

The Alan and Sheila Diamond Charitable Trust is constituted under a trust deed dated 19 July 1977 which was updated on 7 June 2011 and is a registered charity number 274312.

The Trustees who served during the year and up to the date of signature of the financial statements were:

Dr A Diamond OBE Hon DBA MCSI, Chairman Mr J R Kropman LLB, Vice Chairman Mr J Bennett Mr N Edmonds Mrs N Goldman

The statutory power of appointing new or additional Trustees is vested in the Settlors during their lives. The Trust Deed provides a minimum of three Trustees, to a maximum of eight Trustees.

Organisation structure and decision making

The Trustees consider the Board of Trustees to comprise the key management personnel of the charity in charge of directing and controlling the charity. All Trustees give their time freely and no Trustee remuneration or Trustee expenses were paid in the year.

All decisions are made at full Trustee meetings and carried out on a day to day basis by the Trustees.

• 4 -

THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 5 APRIL 2025

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Trustees and signed on their behalf by:

Dr A Diamond OBE Hon DBA MCSI, Chairman

• 5 -

THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

I report to the Trustees on my examination of the financial statements of The Alan and Sheila Diamond Charitable Trust (the Trust) for the year ended 5 April 2025.

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 Trust 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 Trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all 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 the relevant version of the 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 now 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 UK Generally Accepted Accounting Practice.

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 Trust 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.

• 6 -

THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT (CONTINUED)

TO THE TRUSTEES OF THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

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.

Roger Morris ACA CTA

Morris Lane

31/33 Commercial Road Poole Dorset BH14 0HU 26 June 2025

• 7 -

THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 5 APRIL 2025

		Unrestricted	Unrestricted	Endowment	Endowment		Total	Unrestricted	Unrestricted
			funds		funds				funds
			2025		2025		2025		2024
	Notes		£		£		£		£
Income from:
Donations and legacies	2		868		278,157		279,025		212,088
Investments	3		185,535		-		185,535		169,525
Total income and endowments			186,403		278,157		464,560		381,613
Expenditure on:
Charitable activities	4		169,443		-		169,443		196,150
Total expenditure			169,443		-		169,443		196,150
Net gains/(losses) on investments	7		39,619		-		39,619		(93,091)
Net income			56,579		278,157		334,736		92,372
Transfers between funds		(3,500,000)			3,500,000		-		-
Net movement in funds		(3,443,421)			3,778,157		334,736		92,372
Reconciliation of funds:
Fund balances at 6 April 2024			4,322,338		-		4,322,338		4,229,966
Fund balances at 5 April 2025			878,917		3,778,157		4,657,074		4,322,338

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

• 8 -

THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

STATEMENT OF FINANCIAL POSITION

AS AT 5 APRIL 2025

		2025		2024
	Notes	£	£	£	£
Fixed assets
Investments	9		4,547,677		4,160,857
Current assets
Cash at bank and in hand		111,317		162,981
Current liabilities	10	(1,920)		(1,500)
Net current assets			109,397		161,481
Total assets less current liabilities			4,657,074		4,322,338
Capital funds
Endowment funds - general	11		3,778,157		-
Income funds
Unrestricted funds			878,917		4,322,338
			4,657,074		4,322,338

The financial statements were approved by the Trustees on 26 June 2025

Dr A Diamond OBE Hon DBA MCSI, Chairman Trustee

Mr J R Kropman LLB, Vice Chairman Trustee

• 9 -

THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

Charity information

The Alan and Sheila Diamond Charitable Trust is an unincorporated charitable trust.

1.1 Accounting convention

The financial statements have been prepared in accordance with the the Trust's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The trust is a Public Benefit Entity as defined by FRS 102.

The trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Trust 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.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Trust.

1.4 Income

Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

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.

Legacies are recognised on receipt or otherwise if the Trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

• 10 -

THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated to each of fundraising and Charitable Activities on a basis consistent with the use of the resources.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

All resources expended are inclusive of irrecoverable VAT

1.6 Non-current investments

Fixed asset investments are initially 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.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.

• 11 -

THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

2 Income from donations and legacies

	**Unrestricted **	Endowment	Total	**Unrestricted **	Endowment	Total
	funds	funds		funds	funds
	2025	2025	2025	2024	2024	2024
	£	£	£	£	£	£
Donations and gifts	868	278,157	279,025	212,088	-	212,088

3 Income from investments

	Unrestricted	Unrestricted	Unrestricted	Unrestricted
		funds		funds
		2025		2024
		£		£
Income from listed investments		178,391		168,596
Interest receivable		7,144		929
		185,535		169,525
Charitable activities
		2025		2024
		£		£
Donations		143,356		176,570
Share of support costs (see note 5)		24,167		18,080
Share of governance costs (see note 5)		1,920		1,500
		169,443		196,150
Analysis by fund
Unrestricted funds		169,443
		169,443
For the year ended 5 April 2024
Unrestricted funds				196,150
				196,150

4 Charitable activities

• 12 -

THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

5 Support costs

Support costs
	Support		Governance			2025		2024
		costs		costs
		£		£		£		£
Computer running costs		1,779		-		1,779		2,785
Telephone		644		-		644		607
Sundry expenses		2,280		-		2,280		2,305
Bookkeeping		9,630		-		9,630		8,110
Legal and professional		-		-		-		4,273
Investment management fees		9,834		-		9,834		-
Independent examiners fees		-		1,920		1,920		1,500
		24,167		1,920		26,087		19,580
Analysed between
Charitable activities		24,167		1,920		26,087		19,580

Governance costs includes payments to the auditors of £1,920 (2024- £1,500) for audit fees.

6 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year.

7 Net gains/(losses) on investments

	Unrestricted	Total
	funds
	2025	2024
	£	£
Revaluation of investments	14,229	(116,661)
Gain on sale of investments	25,390	23,570
	39,619	(93,091)

8 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

• 13 -

THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

9 Fixed asset investments

			Listed		Other		Total
		Investments		Investments
			£		£		£
	Cost or valuation
	At 6 April 2024		4,160,857		-		4,160,857
	Additions		493,702		205,000		698,702
	Valuation changes		14,229		-		14,229
	Disposals		(326,111)		-		(326,111)
	At 5 April 2025		4,342,677		205,000		4,547,677
	Carrying amount
	At 05 April 2025		4,342,677		205,000		4,547,677
	At 05 April 2024		4,160,857		-		4,160,857
10	Current liabilities
					2025		2024
					£		£
	Accruals and deferred income				1,920		1,500

11 Endowment funds

Endowment funds represent assets which must be held permanently by the Trust. Income arising on the endowment funds can be used in accordance with the objects of the Trust and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

Permanent endowments

At	6	April	Incoming	Transfers	At 5 April
		2024	resources		2025
		£	£	£	£
		-	278,157	3,500,000	3,778,157

12 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

	At 6 April	Incoming	Resources	Transfers	Gains and	At 5 April
	2024	resources	expended		losses	2025
	£	£	£	£	£	£
General funds	4,322,338	186,403	(169,443)	(3,500,000)	39,619	878,917

• 14 -

THE ALAN AND SHEILA DIAMOND CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

12 Unrestricted funds

Unrestricted funds											(Continued)	(Continued)
Previous year:	At 6	April		Incoming	Resources			Transfers	Gains and			At 5 April
		2023	resources			expended				losses		2024
		£		£		£		£		£		£
General funds	4,229,966			381,613		(196,150)		-		(93,091)		4,322,338
Analysis of net assets between funds
							Unrestricted		Endowment			Total
								funds		funds
								2025		2025		2025
								£		£		£
At 5 April 2025:
Investments								769,520		3,778,157		4,547,677
Current assets/(liabilities)								109,397		-		109,397
								878,917		3,778,157		4,657,074
							Unrestricted		Endowment			Total
								funds		funds
								2024		2024		2024
								£		£		£
At 5 April 2024:
Investments								4,160,857		-		4,160,857
Current assets/(liabilities)								161,481		-		161,481
								4,322,338		-		4,322,338

13 Analysis of net assets between funds

14 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

• 15 -