DoGUSign Envelope ID." 37A6262BABAE.4E89-AOFC-F7991E25ADB1 The Kobler Charitable Trust Financial Statements For the year ended 5 April 2025 Charity Number: 275237
DoGUSign Envelope ID." 37A6262BABAE.4E89-AOFC-F7991E25ADB1 THE KOBLER CHARITABLE TRUST CONTENTS Page Reference and Administrative Details Report of the Trustees 2104 Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Accounts 81014
DoGUSign Envelope ID." 37A6262BABAE.4E89-AOFC-F7991E25ADB1 THE KOBLER CHARITABLE TRUST Reference and Administrative Details For the year ended 5 April 2025 Charity Number: 275237 Reglstered Offlce: clo Lewis Silkin LLP Arbor 255 Blackfriars Road London SE1 gAX Trustees: Antoine Xuereb Andrew Howard Stone Joanne Louise Mansfield Evans Joel Wulf Israelsohn Accountants: Moore Kingston Smith LLP Floor 6 9 Appold Street London EC2A 2AP Solicitors: Lewis Silkin LLP Arbor 255 Blackfriars Road London SE19AX Bankers: Arbuthnot Latham & Co. Limited Arbuthnot House 7 Wilson Street London EC2M 2SN Investment Manager 1 Cazenove Fund Management Ltd 1 London Wall Place London EC2Y SAU Investment Managor 2 . Arbuthnot Latham & Co. Limited Arbuthnot House 7 Wilson Street London EC2M 2SN Page.. 1
DoGUSign Envelope ID." 37A6262BABAE.4E89-AOFC-F7991E25ADB1 THE KOBLER CHARITABLE TRUST Report of the Trustees For the year ended 5 April 2025 The Trustees present their report along with the financial statements of the charity for the year ended 5 April 2025. The financial slalements have been prepared in accordance with the accounting policies set out on page 8 and comply with the charity's trust deed, the Charities Act 2011 and the Charities SORP 2015. structure. Governance and Management The Kobler Charitable Trust is constituted under a trust deed dated 18 September 1963, created by the settlor, Fred Kobler who died on 1 November 1987.11 is a registered charity, registration number 275237. The Trustees who have served during the year and since the year end are sel out on page 1. The power lo appoint new Trustees is exercised by a majority in number of the existing Trustees. Where there is a need for new Trustees, this would be identified by the remaining Trustees. The Trustees meet two or three times a year to agree the broad strategy and areas of activity for the Trust, including consideration of grant making, investment, reserves and risk management policies and performance. The day to day administration of grants and the processing and handling of applications prior to consideration by the Trustees is delegated to Lewis Silkin LLP solicitors Inole 111. The Trustees are either professional andlor of many years, experience in acting as Trustees. When a new trustee Is appointed the existing Trustees take responsibility for Induction. The Trustees have examined the major strategic, business and operational risks which the Trust faces and confirm that systems have been established lo enable continuous monitoring of such risks so that appropriate steps can be taken to lessen these risks. Objectives and activities The objects of the Trust are lo apply the income and capital of the Trust for such charitsble purposes in the United Kingdom as the Trustees shall in their absolute discretion determine. The Trustees, main objectives are to maintain capital leonsistent with a smooth grant giving policy) which they achieve by consistent and conservative investment lo sustain income, alongside a grant giving policy which aims to balance large and small gifts, in total, broadly the same amount year on year. Public benefit In meeting the objectives the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit and judge that all donations made meet this guidance. The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard lo public benefit guidance published by the Commission, including the guidan 'Public benefit.. Running a charity IPB21'. Page.. 2
DoGUSign Envelope ID." 37A6262BABAE.4E89-AOFC-F7991E25ADB1 THE KOBLER CHARITABLE TRUST Report of the Trustees For the year ended 5 April 2025 Grant making policy Applications can be submitted to the Trustees by charitable institutions and these applications are considered by the Trustees on a regular basis, both al Trustees, meetings and between meetings. Applications should be in writing and incorporate full details of the charity for which funding is requested. Acknowledgements are not generalty sent out lo unsuccessful applicants. Achlevements and performance The Trustees have continued lo support other charities within the objects clause of the Trust deed and there are no immediate plans lo alter the way in which the income is expended. Grants lotalling £72,770 have been made in the year12024". £71,834) Financial review The Trust's income from ils investments was £80,19412024." £101,794). The investment income was less than the prior year, bul broadly consistent with year on year trends. This enabled charitable activity of £103,93712024'. £111,612). The Trust's investments are managed by Cazenove Fund Management Ltd in consultation with the Trustees. The market value of the investments in the financial statements has slightly decreased over the period reflecting the general position of the UK stock market. Al 5 April 2025, the value of the investment portfolio was £3,012,28312024. £3, 181,5011, showing a decrease of 50/012024.. Decrease of 40/0) to fund charitable activities over the year. The Trustees follow a conservative investment policy with a view to maintaining the capital of the charity in a mixture of equity and bonds whilst maintaining sufficient liquidity for the Trust's foreseeable needs and donations. The Trustees do not consider that the impact of the current economic climate to have any effect on the ability of the Trust to operate as a going COnrn. Reserves pollcy All of the charity's funds held at 5 April 2025 amounting to £3,217,77312024." £3,361,030) are general unrestricted funds which are expendable at the discretion of the Trustees in furtherance of the objects of the charity. As the charity does not currently seek funding bul uses its resources lo provide funding for the furtherance of its objects, it is the Trustees, policy lo maintain the charity's reserves at a sufficient level to enable it lo continue lo provide such funding in future years. This is monitored on a regular basis by the Trustees, who review the level of reserves in the light of future funding requirements. Plans for the future The Trustees intend lo continue providing grants in a similar way lo the recent past but retaining flexibility as to the liming and scale of grant making. Page.. 3
DoGUSign Envelope ID." 37A6262BABAE.4E89-AOFC-F7991E25ADB1 THE KOBLER CHARITABLE TRUST Report of the Trustees For the year ended 5 April 2025 Trustees. responsibilities in relation to the financial statements The Iruslees 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 Praclicel. The law applicable to charities in England & Wales requires the Iruslees to prepare financial slalements for each financial year which give a true and fair view of the slate of the 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 lo.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., slate whether applicable accounting standards have been followed, subject lo 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 business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any lime 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 deeds. 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 irregularits'es. Approved by the Trustees and signed on their behalf by.. Srgned by: FD11CE450B824D3... J L Mansfield Evans Trustee Dale.. 21 January 2026 Page.. 4
DoGusign Envelope ID." 37A6262BABAE.4E89-AOFC-F7991E25ADB1 Independent Examiner's Report to the Trustees of The Kobler Charitable Trust I report to the charity trustees on my examination of the accounts of the Company for the year ended 5 April 2025. Responsibilities and basis of report As the charity Iruslees of the Trust you are responsible for the preparation of the accoLJnts in accordance with the requirements of the Charities Act 20111.lhe Acl'l. I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe.. accounting records were not kept in respect of the Charity as required by section 130 of the 2006 Act,. or 2 the aecounls do not aecord with those records., or 3 the awounls do not comply with the applicable requirements Conrning the form and ¢onlenl of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue 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 accounts to be reached. ocxe Adam Fullerton, FCA DChA For and on behalf of Moore Kingston Smith LLP Chartered Accountants Floor 6 g Appold Street London EC2A 2AP Dale.. 21 January 2026 Page.. 5
DoGUSign Envelope ID." 37A6262BABAE.4E89-AOFC-F7991E25ADB1 THE KOBLER CHARITABLE TRUST Statement of Financial Activities For the year ended 5 April 2025 Total 2025 Total 2024 Notes INCOME FROM: Donation gift in kind Investments 5,592 80,194 7,907 101,794 Total 85,786 109,701 EXPENDITURE ON: Raising funds Charitable activities 19,955 103,937 18,461 111,612 Total 123,891 130,073 Nel gainslllossesl on investments 1105,1521 124,661 Net incomo1{expenditurg) 143,257 104,289 Reconciliation of funds Balance at 6 April 2024 3,361,030 3,256,740 Balance at 5 April 2025 3,217,773 3,361,030 All amounts relate lo unrestricted funds and to continuing aclivilies. The notes on pages 8 10 14 form part of these financial slatemenls. Page.. 6
DoGUSign Envelope ID." 37A6262BABAE.4E89-AOFC-F7991E25ADB1 THE KOBLER CHARITABLE TRUST Balance Sheet as at 5 April 2025 Notes 2025 2025 2024 2024 Fixed Assets Investments 3,012,283 3,181,501 Current Assets Cash at bank and in hand Debtors 222,658 3,930 190,131 8,731 226,588 198,862 Liabilities Creditors.. Amounts falling due within one year 21,098 19,333 Net Current Assetsl{Liabilitiesl 205,490 179.529 Total Net Assets 3,217,773 3,361,030 Funds Unrestricted funds 3,217,773 3,361,030 21 January 2026 Approved by the Trustees and authorised for issue on and signed on their behalf by.. Slgned by: FD11CE450B824D3... J L Mansfield Evans Trustee Charity No. 275237 The notes on pages 8 to 14 fomi part of these financial statements. Page.. 7
DoGUSign Envelope ID." 37A6262BABAE.4E89-AOFC-F7991E25ADB1 THE KOBLER CHARITABLE TRUST Notes to the Accounts For the year ended 5 April 2025 1 Principal Accounting Policies Basis of Proparation of the Financial Statements The financial statements have been prepared under the historical cost convention, as modified by the revalLJation of investments being measured al fair value through income and expenditure within the Statement of Financial Aclivilies, and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Charity is a public benefit entity for the purposes of FRS 102 and therefore the charity also prepared ils financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORPI, Including Update Bulletin 2, and the Charities Act 2011. The financial statements are prepared in slerfing, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound. Going Concern Basis These financial statements have been prepared on the basis of accounting principles applicable to a going concern, which assume that the charity will continue in operation for a period of at least one year from the dale of approval of the financial stalemenls. The Trustees have concluded that there is a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Incoming Resources All incoming resources are recognised once the charity has entidement lo the resources, it is probable that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability. Investment Income Investment income is accounted for in the period in which the charity is entitled lo receipt. Income is the gross value of dividends and interest received after reclaiming any lax credits that are available. Resources Expended Liabilities are recognised as resources expended as soon as there is a legal or conslruclive obligation committing the charity lo the expenditure. All expenditure is accounted for on an accruals basis. Costs of raising funds Costs of fftising funds comprise those costs direcdy attributable to managing the investment portfolio and raising investment income. Page.. 8
DoGUSign Envelope ID." 37A6262BABAE.4E89-AOFC-F7991E25ADB1 THE KOBLER CHARITABLE TRUST Notes to the Accounts For the year ended 5 April 2025 1 Principal Accounting Policies Icontinuedl Fixed Asset Investments Investments are ststed al closing Market value al the balance sheet date. Any gains or losses on revaluation and disposal are shown in the Slalement of Financial Activities. Realised gain$ and losses All gains and losses are taken lo the stslement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and purchase cost. Unrealised gains and losses are calculated as the difference between the market value al the year end and opening market value lor purchase date if later). Realised and unrealised gains are not separated in the Statement of Financial A¢livilies. Charitable Activities Costs of charitable activities include grants made and an apportionment of overhead and support costs where applicable. Grants payable are payments made to third parties in the furtheonce of the charitable objectives of the Trust. Single or mulli-year grants are accounted for when either the recipient has reasonable expectation that they will receive a grant and the Trustees have agreed lo pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching lo the grant is outside of the control of the Trust. Governance Costs Governance costs comprise costs relating lo the general running of the charity as opposed lo those associated with generating funds or charitable activity. Critical accounting estimatos and argas of judggments In preparing financial statements il is necessary lo make certain judgements, estimates and assumptions that affect the amounts reeognised in the financial statements. In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any eslimales or assumptions made carry a significant risk of material adjustment in the next financial year. Page.. 9
DoGUSign Envelope ID." 37A6262BABAE.4E89-AOFC-F7991E25ADB1 THE KOBLER CHARITABLE TRUST Notes to the Accounts For the year ended 5 April 2025 1 Prlnclpal Accountlng Pollcles Icontlnuedl Financial Instruments Cash and Cash equivalents Cash and cash equivalents include cash al banks and in hand and short term deposits with a maturity date of three months or less. Basic Financial Instruments The charity only holds basic financial instruments as defined by FRS 102. Financial instruments receivable or payable wthin one year of the reporbng dale are carried al their at transaction pri and subsequently at amortised cost. Page. 10
DoGUSign Envelope ID." 37A6262BABAE.4E89-AOFC-F7991E25ADB1 THE KOBLER CHARITABLE TRUST Notes to the Accounts (Continued) For the year ended 5 April 2025 2 Investment income 2025 2024 Intérèst from UK fixed intarèst securitiés Dividends Interest on cash deposits Future dated accrued dividend income 5,173 69,234 1,857 3,930 80,194 7,490 83,431 2,142 8,731 101,794 3 Raising funds 2025 2024 Investment management costs 19,955 18,461 19,955 18,481 4 Charitable activities 202S 2024 Ann Frank Trust Anthroposophical Association Limited Campaign Against Living Miserably Canterbury Umbrella Centrè Carers UK Carousel project Challengers Children's Adventure Craft Trust Cty of London Sinfonia Crawley Open House Criminon UK Deafblind UK Dressability Douglas Mcmillan House Family Holiday Charity Hospice UK Hospicecare North Nothumberland Isabél Hospice Itd Keech Hospice Care Keshet Diversity UK Kids n Action Kisharon Lewis Manning Hospice Mahogany Snappy Operas Mosiac voices North London Hospice Soundaboul Stubbers Adventure Centre 1,000 11,500 600 5,000 500 300 549 5,000 500 13001 300 425 300 500 500 500 500 500 500 500 20,000 500 20,000 500 500 500 3,000 6,000 500 500 500 Subtotal 33,200 48,474 Page.. 11
DoGUSign Envelope ID." 37A6262BABAE.4E89-AOFC-F7991E25ADB1 THE KOBLER CHARITABLE TRUST Notes to the Accounts (Continued) For the year ended 5 April 2025 4 Charitable activities Icontinuedl 2025 2024 Balance brought forward 33,200 48,474 Phab Clubs Soundabout St Gemma's Hospice Stick n Step Slubbers Adventure Centre The Amber Foundation The Bach Choir The Childhood Ttusl The Small Piece Trust UK Jew15h Film Ltd Wèst Ltsndon Synagogue of British J Willow Hospice Total donations 500 300 500 500 500 500 500 500 5,060 15,000 5,570 15,000 18,000 500 71,834 72,770 Fees relating lo administering grants Governan¢e cost 19,947 11,220 25,303 14.475 103,937 111.612 Page.. 12
DoGUSign Envelope ID." 37A6262BABAE.4E89-AOFC-F7991E25ADB1 THE KOBLER CHARITABLE TRUST Notes to the Accounts (Continued) For the year ended 5 April 2025 S Support and governance cost 2025 2024 Independent Examiners. fee Accountancy fees Legal fees Bank Charges 5,407 3,168 22.369 223 3,048 4,812 31.628 289 31,167 39.777 Trustees were reimbursed expenses totalling £nil during the year ended 5 April 202512024- £nill. No Trustees received any remuneration during the year ended 5 April 202512024- £nil}. 6 Invastmonts 202S 2025 2024 2024 Market value at 6 April 2024 3,181,501 3,069,117 Cost of acquisitions in the year Transfer to Cash Proceeds from disposals in the year 2,459,964 12,5001 2,520,662 697,093 709,370 Nat cash movémènt in thè yèar 163,1971 3,118,304 112.2771 3,056,840 Realised gain in the year Unrealised gainlllossl in the year 1216,6241 110,608 110,026 14,635 Net gainlllossl in the year 1106,0211 124,661 Market v•lu& at 5 April 2025 3.012.283 3.181,501 Investments at market value comprised.. UK equities UK fixed interest securities Overseas Investments 848,276 794,023 1,369.984 1,247,051 710,309 1.224.141 3,012.283 3.181,501 Hlstorlcal cost at S Aprfl 2025 3,053.635 2.840,027 Investments represents'ng 5% or more of the portFolio are disdosed below.. Portfolio Y. Market Value Charities Property Fund Findlay Park American Fund 126.483 92,790 Page.. 13
DoGUSign Envelope ID." 37A6262BABAE.4E89-AOFC-F7991E25ADB1 THE KOBLER CHARITABLE TRUST Notes to the Accounts (Continued) For the year ended 5 April 2025 7 Cash at bank and in hand 2025 2024 Arbuthnot Currenl-20047042 153,273 12,043 Barclays Business-30137383 7,262 164,906 Client account- Lewis Silkin LLP Income account 2.731 1.166 Capital account 56,890 12,015 Cash- JPMorgan GBP Liquidity Fund 2,500 222,658 190,131 8 Debtors 2025 2024 Investment income receivable 3,930 8,731 3,930 8,731 9 Creditors: Amounts falling due within one year 202S 2024 Accruals Creditors 21,098 12,746 6,587 21,098 19,333 10 Related Party Transactions J L Mansfield Evans, a trustee, is a retired Partner of Lewis Silkin LLP. This firm provided, and continues to provide, legal services and general management for the Trust. Lewis Silkin LLP discounts its fee lo the Trust by 25%. The totsl fees (including VAT and disbursements) paid to the firm during the year lo 5 April 2025 werè £16,77712024." £23,7221. A gift in kind of £5,59212024". 27,9071 was recognised during thè period, as a result of the discount provided. There was £1 held by the fimi in a client account as at 5 April 202512024.. £11. An amount of £4.75912024'. £6,587) was owed to the firm by the charity as at 5 April 2025. 11 Key Management Personnel Key management personnel includes the Trustees. The total remuneration to the Trustees was £nil 12024.. £nill, however Lewis Silkin, of whom Trustee J L Mansfield Evan3 is a retired partner as mentioned in Note 10 to the financial statements. were reimbursed £16.77712024." £23.7221 for their services In the year. Page.. 14