**REGISTERED CHARITY NUMBER: 277141**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 5 April 2022**
## **for**
**The Daniel Falkner Charitable Trust**
Grant Harrod Lerman Davis LLP Chartered Accountants 1st Floor Healthaid House Marlborough Hill Harrow Middlesex HA1 1UD
**The Daniel Falkner Charitable Trust**
## **Contents of the Financial Statements for the year ended 5 April 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|10|
|**Detailed Statement of Financial Activities**||11||
**The Daniel Falkner Charitable Trust**
## **Report of the Trustees for the year ended 5 April 2022**
The Trustees present their report with the financial statements of the charity for the year ended 5 April 2020. The Trustees have adopted the provisions of 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) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The Charity gives grants to such Charities or for such Charitable purposes and in such proportions and in such manner and subject to such terms and conditions as the Trustees may from time to time at their uncontrolled discretion determine. In setting our objectives, the Trustees select the causes to benefit from donations after careful consideration, and speculative applications are unlikely to be successful.
## **Significant activities**
The Trust mainly makes grants to individual scientific researchers primarily in Israel, and the UK and to other similar organisations supporting scientific research, such as the Weizmann Institute and Ben Gurion University in Israel. In addition the Trustees give grants to other charitable organisations with non scientific objects.
## **Public benefit**
In setting our objectives and planning our activities the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit, and are satisfied that they comply with that guidance.
## **Grantmaking**
Grants are made in accordance with the Trust Deed governing the Daniel Falkner Charitable Trust, and focus primarily on scientific research in Israel and the UK. In addition donations are made to other charitable bodies and individuals.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The charity made grants appropriate to the aims of supporting scientific research and other grants as noted above during the year totalling £92,045, (2021 £65,490).
## **FINANCIAL REVIEW**
## **Investment policy and objectives**
The investment objective is to maximise the investments return through active management in the stock market using an experienced Fund Manager, Barclays Wealth Management, and this is reviewed at regular intervals. The charity also holds a number of smaller investments, with recognised investment managers, for example Henderson and M & G. A medium to high risk investment approach has been taken as the focus is on capital growth.
## **Reserves policy**
The Charity's funds were largely provided by the late Daniel Falkner who hoped that the Trust would be maintained long term as a grant making body, and therefore his legacy is an Expendable Endowment. The Trustees consider that a sum no less than three years commitments as an appropriate level of reserves.
The reserves policy and level of reserves required are reviewed on a regular basis by the Trustees during their meetings. The Trustees have reserves carried forward within the unrestricted fund of £1,101,421 which is sufficient to fund three years commitments.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a Trust Deed dated 13 December 1978, and constitutes an unincorporated charity.
## **Recruitment and appointment of new trustees**
The current trustees choose individuals with the appropriate skills, knowledge and experience needed for the effective administration of the charity.
## **Organisational structure**
The Trustees manage the charity.
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**The Daniel Falkner Charitable Trust**
## **Report of the Trustees for the year ended 5 April 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees**
The Trustees have full knowledge of the Charity Commission's guidance, "The Essential Trustee: What you need to know".
## **Related parties**
During the year ended 5 April 2021, there were no related party transactions in the Daniel Falkner Charitable Trust.
## **Risk management**
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The Trustees have considered the risks to which the charity is exposed and are satisfied that they have procedures in place to minimise these.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
277141
## **Principal address**
177 Hampstead Way London NW11 7YA
## **Trustees**
Mrs A L J Berger R D Craig G D Berger Miss R Berger
## **Independent Examiner**
Jeremy Harrod FCCA Grant Harrod Lerman Davis LLP Chartered Accountants 1st Floor Healthaid House Marlborough Hill Harrow Middlesex HA1 1UD
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mrs A L J Berger - Trustee
Page 2
**Independent Examiner's Report to the Trustees of The Daniel Falkner Charitable Trust**
## **Independent examiner's report to the trustees of The Daniel Falkner Charitable Trust**
I report to the charity trustees on my examination of the accounts of The Daniel Falkner Charitable Trust (the Trust) for the year ended 5 April 2022.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material 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 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true 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.
Jeremy Harrod FCCA Grant Harrod Lerman Davis LLP Chartered Accountants 1st Floor Healthaid House Marlborough Hill Harrow Middlesex HA1 1UD Date: .............................................
Page 3
## **The Daniel Falkner Charitable Trust**
## **Statement of Financial Activities for the year ended 5 April 2022**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
2
**Total**
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
CHARITY
**Total**
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|2022
Unrestricted
fund
£
4,000
28,719
32,719
2,632
92,195
94,827
85,556
23,448
1,101,421
1,124,869|2021
Total
funds
£
12,080
30,354
42,434
206
65,490
65,696
164,311
141,049
960,372
1,101,421|
|---|---|---|
The notes form part of these financial statements
Page 4
## **The Daniel Falkner Charitable Trust**
## **Balance Sheet 5 April 2022**
|Notes
**FIXED ASSETS**
Investments
6
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
7
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
8
Unrestricted funds
**TOTAL FUNDS**|2022
Unrestricted
fund
£
1,108,826
17,003
(960)
16,043
1,124,869
1,124,869
1,124,869
1,124,869|2021
Total
funds
£
1,058,134
44,247
(960)
43,287
1,101,421
1,101,421
1,101,421
1,101,421|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
Page 5
**The Daniel Falkner Charitable Trust**
## **Notes to the Financial Statements for the year ended 5 April 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||2022|2021|
||£|£|
|Investments|28,719|30,354|
continued...
Page 6
**The Daniel Falkner Charitable Trust**
## **Notes to the Financial Statements - continued for the year ended 5 April 2022**
## **3. RAISING FUNDS**
## **Investment management costs**
|**Investment management costs**|||
|---|---|---|
||2022|2021|
||£|£|
|Support costs|2,637|206|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 5 April 2022 nor for the year ended 5 April 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 5 April 2022 nor for the year ended 5 April 2021.
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**|Unrestricted
fund
£|
|---|---|
|Donations and legacies|12,080|
|Investment income|30,354|
|**Total**|42,434|
|**EXPENDITURE ON**||
|Raising funds|206|
|**Charitable activities**||
|CHARITY|65,490|
|**Total**|65,696|
|Net gains on investments|164,311|
|**NET INCOME**|141,049|
|**RECONCILIATION OF FUNDS**||
|**Total funds brought forward**|960,372|
|**TOTAL FUNDS CARRIED FORWARD**|1,101,421|
continued...
Page 7
**The Daniel Falkner Charitable Trust**
## **Notes to the Financial Statements - continued for the year ended 5 April 2022**
## **6. FIXED ASSET INVESTMENTS**
|Shares
Other
Additional information as follows:
**MARKET VALUE**
At 6 April 2021
Additions
At 5 April 2022
**NET BOOK VALUE**
At 5 April 2022
At 5 April 2021
There were no investment assets outside the UK.
Investments (neither listed nor unlisted) were as follows:
Cash at Investment Managers
**7.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**8.**
**MOVEMENT IN FUNDS**
At 6.4.21
£
**Unrestricted funds**
General fund
1,101,421
**TOTAL FUNDS**
1,101,421|2022
£
1,107,056
1,770
1,108,826
2022
£
1,770
2022
£
960
Net
movement
in funds
£
23,448
23,448|2021
£
1,056,365
1,769
1,058,134
Unlisted
investments
£
1,056,365
50,691
1,107,056
1,107,056
1,056,365
2021
£
1,769
2021
£
960
At
5.4.22
£
1,124,869
1,124,869|
|---|---|---|
continued...
Page 8
## **The Daniel Falkner Charitable Trust**
## **Notes to the Financial Statements - continued for the year ended 5 April 2022**
## **8. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|32,719|(94,827)|85,556|23,448|
|**TOTAL FUNDS**|32,719|(94,827)|85,556|23,448|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 6.4.20
£
960,372
960,372|Net
movement
At
in funds
5.4.21
£
£
141,049
1,101,421
141,049
1,101,421|
|---|---|---|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
42,434
42,434|Resources
expended
£
(65,696)
(65,696)|Gains and
Movement
losses
in funds
£
£
164,311
141,049
164,311
141,049|
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 6.4.20
£
960,372
960,372|Net
movement
in funds
£
164,497
164,497|At
5.4.22
£
1,124,869
1,124,869|
|---|---|---|---|
continued...
Page 9
## **The Daniel Falkner Charitable Trust**
## **Notes to the Financial Statements - continued for the year ended 5 April 2022**
## **8. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|75,153|(160,523)|249,867|164,497|
|**TOTAL FUNDS**|75,153|(160,523)|249,867|164,497|
||||||
## **9. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 5 April 2022.
Page 10
**The Daniel Falkner Charitable Trust**
## **Detailed Statement of Financial Activities for the year ended 5 April 2022**
|**for the year ended 5 April**|**2022**||
|---|---|---|
||2022|2021|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|4,000|12,080|
|**Investment income**|||
|Investments|28,719|30,354|
|**Total incoming resources**|32,719|42,434|
|**EXPENDITURE**|||
|**Other trading activities**|||
|Exceptional items|(5)|-|
|**Charitable activities**|||
|Supporting and encourage students in|||
|undertaking scientific research|92,195|65,490|
|**Support costs**|||
|**Other 2**|||
|Support costs|2,637|206|
|Total resources expended|94,827|65,696|
|**Net expenditure before gains and losses**|(62,108)|(23,262)|
|**Realised recognised gains and losses**|||
|Realised gains/(losses) on fixed asset investments|85,556|164,311|
|**Net income**|23,448|141,049|
||||
This page does not form part of the statutory financial statements
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