OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-09-30-accounts

Charity no. 281721

The Ian Karten Charitable Trust Report and Audited Financial Statements 30 September 2021

The Ian Karten Charitable Trust

Reference and administrative details

For theyear ended 30 September 2021
Charity number 281721
Registered office and International House
operational address 64 Nile Street
London
N1 7SR
Trustees The trustees who served during the year and up to the date of this report
were as follows:
S E Cooke
E Copisarow
A Davis
A Moran
Auditors Godfrey Wilson Limited
Chartered accountants and statutory auditors
5th Floor Mariner House
62 Prince Street
Bristol
BS1 4QD
Bankers Lloyds Bank Plc
25 Gresham Street
London
EC2V 7NN
Investment managers Charles Stanley & Co Limited
55 Bishopsgate
London
EC2N 3AS

1

The Ian Karten Charitable Trust

Report of the trustees

For the year ended 30 September 2021

Reference and administrative information set out on page 1 forms part of this report. The trustees present their report with the financial statements of the charity for the year ended 30 September 2021. 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).

Statutory and administrative details

The Ian Karten Charitable Trust was created by a Trust Deed dated 10 December 1980 and was registered as a charity on 21 January 1981.

Details of trustees are shown on page 1.

The Trust is a grant making trust. It derives its income solely from the dividends and interest on its investment portfolio provided by the founder Ian Karten and his widow Mildred Karten.

The trustees meet at least every six months to review the accounts and to discuss any proposed donations, scholarships and bursaries. The day to day running of the charity is delegated to Anthony Davis, who is Chair, and Ines Meza-Mitcher who acts in a freelance capacity as Administrator. The investment managers have discretionary power over all investment decisions.

The Trust Deed provides for a minimum of three trustees. The present trustees are responsible for the appointment and induction of any new trustee. All trustees give of their time freely. Details of expenses and related party transactions are disclosed in note 16 to the accounts. Trustees are required to disclose all relevant interests. The Trust (as disclosed later) has a connection with The Karten Network Ltd.

Objectives and activities

The objects of the Trust are to carry out such legal charitable purposes for the relief of poverty, the advancement of education or religion or otherwise for the benefit of the community as the trustees shall from time to time in their absolute discretion select.

The trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit.

Following the wishes of the founders of the Trust, Ian and Mildred Karten, the Trust currently concentrates on:

2

The Ian Karten Charitable Trust

Report of the trustees

For the year ended 30 September 2021

Achievements and performance

Karten Centres

In 1996 the trustees decided to devote a substantial part of the Trust's resources to the establishment of centres for disabled people for computer-aided vocational training, education and communication, to be known as Karten Centres (formerly referred to as CTEC Centres).

The first Karten Centre was established in 1997 in Crowthorne, Berkshire. At the same time the Trust embarked on an ambitious programme for the rapid establishment of a "family" of Karten Centres. In order to achieve this, the policy of the Trust was to find suitable organisations which would share its enthusiasm for the use of assistive computer technology to improve the quality of life and the independence of people with learning, physical and sensory disabilities by giving them access to creative and innovative assistive technology opportunities. The Trust then offers to provide funding for the equipment, software, assistive devices, and furniture for the Centre, and in some cases a contribution to other related costs, in return for an undertaking by the charity to establish and operate the Centre on a basis acceptable to the Trust.

To date, 139 Karten Centres have been or were in the process of being established; current centres total 82 in the UK and Eire and 8 in Israel.

The Centres are staffed by professionals with backgrounds which include Assistive Technology, Occupational Therapy, Speech and Language Therapy, Rehabilitation and Psychology and individuals with experience in the specialist teaching and training of disabled people, assisted by trained full or part-time paid or voluntary support workers to provide a high level of one-to-one teaching and support. The Centres have access to other specialists at local universities and hospitals as required.

Karten Centres use the latest developments in Assistive Technology, including a wide range of devices, specialist apps and software, special input and output devices suitable for people with various disabilities. The technology includes high performance PCs, laptops, iPads and tablets, smartphones, artificial intelligence, immersive sensory solutions, printing solutions and interactive screen technology.

The physical disabilities of clients at the Centres may have arisen from a number of causes, either inborn or acquired, including, among others, cerebral palsy, motor neurone disease, muscular dystrophy, multiple sclerosis, polio, stroke and rheumatoid arthritis. Cognitive disability of clients may have a genetic cause such as in the case of Downs Syndrome, or be the result of stroke or head injury. Specific learning disability may include dyslexia, dysgraphia or dyscalculia. Sensory disability may consist of blindness, serious visual impairment or deafness or deaf blindness.

The Centres and the organisations which operate them are very varied. The latter include two universities and 23 specialist colleges of further education, the remainder being charities, mostly with Day Centres. Some Centres specialise in a particular disability, others cover a range of disabilities. Some Centres are strongly focused on vocational training, while others concentrate on providing training in communication and life skills for people with cognitive disabilities.

What all the Centres share is, first, their determination to use assistive technology to provide training at the highest level of excellence to people with disabilities in order to improve their quality of life, and in suitable cases to improve their employability by vocational training; and secondly their commitment to exchange information with other Karten Centres and with the Trust in order to spread best practice and to benefit from each other's specialised expertise.

The Trust has continued to achieve its charitable objectives by committing to and making grants to Karten Centres and other charities.

3

The Ian Karten Charitable Trust

Report of the trustees

For the year ended 30 September 2021

The Karten Network Limited

The Karten Network Limited was established in 2002. It is a separate entity with its own board of directors, administration and management, funded by the Trust.

It is a key part of the concept of Karten Centres that all the Centres will 'network' with each other so as to benefit from each other's specialised experience and expertise and to spread best practice. In order to facilitate this all the Centres have combined to form 'The Karten Network'. Some of the Directors of the Network are executives in 'host' organisations within which Karten Centres have been established, or of the Karten Centres themselves. The Network organises events and activities to facilitate exchange of information and sharing best practice between the centres and provides advice to centres on assistive technology.

In September 2017, the Trust first provided funding for a national service, Natspec TechAbility, which the Trust has continued to fund. The Trust's funding covers a full-time equivalent Assistive Technologist post which is shared by two experts who provide national coverage focused on raising quality and standards and developing capacity in the use of assistive technology for people with additional needs. As well as bespoke consultancy visits and follow-up support and webinars, training and development, TechAbility organises a National Conference, lobbying and representation at a national level, among others to the All Party Parliamentary Group for Assistive Technology. During the Covid-19 pandemic, TechAbility has provided a webinar programme, resources to support remote delivery and a remote consultancy offer.

Educational activities, scholarships and bursaries

Since its inception, the Trust has awarded over 3,000 scholarships and bursaries to students studying at many institutions in the UK and overseas. The Trust has also been a major benefactor of the Parkes Library and Institute at the University of Southampton, which was originally founded by the Reverend James Parkes, a Church of England clergyman. Ian Karten knew Reverend Parkes, who was a leading opponent of racist nationalism in the UK. The Parkes Institute is now an outstanding research institution for the study of Anglo-Jewish-Moslem relations.

The Trust has continued to support educational activities, scholarships and bursaries since the death of Ian and Mildred Karten, in recognition of the importance to Ian’s life of the support he received as a student immigrant to the UK. We have developed relationships with a number of educational institutions and fund scholarships and bursaries for them to provide for students in need of support.

Scholarships and bursaries

The Trust supports students to enter and complete higher and postgraduate education by making annual awards in partnership with institutions, normally the places where they are studying.

Awards are called “Ian and Mildred Karten Bursaries”. Each recipient is given information about Ian Karten and his life story. The Trustees also ask recipients to write them a brief account of their academic experience and the use to which the money has been put, at the end of the year.

During the current year, the Trust has worked with three institutions to grant Ian and Mildred Karten bursaries: the Woolf Institute at the University of Cambridge, Birkbeck University, and the University of Southampton.

Southampton

Our partnership with the University of Southampton has continued again this year with further annual funding to support the Parkes Institute for Jewish/Non-Jewish Relations. This builds on a decadeslong relationship, founded by Ian’s connection to and appreciation of James Parkes and his work.

4

The Ian Karten Charitable Trust

Report of the trustees

For the year ended 30 September 2021

Funding provided by the Trust each year supports many aspects of the Institute’s work with a large focus on its highly regarded outreach programme, which provides opportunity for doctoral students to gain experience and properly connect research with public engagement. Its successful outcomes are varied and numerous, but highlights include major established events such as commemoration of Holocaust Memorial Day, Interfaith Week events, regular workshops with school and college students and lifelong learners, and an annual summer school. This work is critical, especially with intolerance growing in many different directions. The Trust’s support has enabled a more significant digital offering, engaging this important activity with as wide an audience as possible. A more in depth review of the last year of funding can be found in the Parkes Institute’s annual review.

Birkbeck University, London

Birkbeck was founded to provide access to education for all those with the ability and determination to succeed, irrespective of background or circumstance. Almost 200 years later, this continues to be central to the mission of the College.

Over 2,000 students, 17% of Birkbeck’s student body, live with one or more declared disabilities. The Birkbeck Ability Programme is a dedicated course for students and recent graduates with a disability, neurodiverse or long-term health condition, who are looking to get advice on finding a job they will love, create successful job applications and have the opportunity to connect with disability-confident employers.

The Trust has continued its support of the Ability Programme this year, enabling twelve Birkbeck students to undertake paid work placements with employer partners. These four-week placements offer transformational, positive experiences for both students and employers. Students gain greater self-confidence and gain valuable work experience and skills after completing the programme, ensuring they are better equipped to go onto meaningful employment upon graduation. They also build their networks, and crucially, help employers to develop environments which maximise the potential of disabled employees.

Financial review

During the year the Trust had a SOFA charge of £112,320 (2020: £202,163) in regard to donations to charities and funded scholarships totalling £70,595 (2020: £130,423) to institutions and individuals. The trustees remain committed to supporting a number of institutions and have committed expenditure totalling £112,648 (2020: £172,603). In total, the Trust had total realised incoming resources of £430,179 (2020: £410,472).

The total cost of charitable activities was £275,090 compared with £434,065 previously. The cost of raising funds was £82,365 (2020: £83,078).

Review of investments

The income of the Trust has been affected by the low rates of interest as well as financial uncertainty due to the coronavirus pandemic.

The charity currently holds its funds with and through Charles Stanley & Co. The trustees consider the performance of the investment portfolio during the year to be satisfactory when viewed against benchmarks.

5

The Ian Karten Charitable Trust

Report of the trustees

For the year ended 30 September 2021

Benchmarking

The performance schedules compare the performance of the portfolio against the following benchmarks:

The performance of the portfolio and the benchmarks are both measured on a total return basis.

Investment objectives

The investment policy is to ensure the creation of sufficient income and capital growth to enable the charity to carry out its objectives and activities consistently year by year, with due and proper consideration for future needs; also for the maintenance of and, if possible, enhancement of the real value of invested funds. Both capital and income may be used at any time for furtherance of the charity’s aims.

Reserves policy

The trustees intend to maintain the capital valuation of the Trust in order that they can continue to meet their current and ongoing commitments for the support of Karten centres and other specific identified projects. The trustees have examined the requirements for free reserves, which are those unrestricted funds not designated for specific purposes or invested in fixed asset investments. As at 30 September 2021, the charity's free reserves are £667,129. The trustees consider this to be appropriate to continue the current activities of the charity and to fund their plans for future periods as detailed below.

Annual review

The foregoing policy and arrangements are reviewed at least annually by the trustees. Any changes are given in writing.

Risk management

The trustees have examined the major strategic, business and operational risks to which the charity is exposed, and confirm that systems have been established to mitigate those risks and are regularly reviewed.

Going concern

During the year, the value of our investment assets has seen a significant recovery in asset value compared to the previous year.

As the Trust is a grant making charity with relatively low running costs we are able to flex our expenditure in line with our income, and therefore the trustees consider that the charity is a going concern for a period of at least 12 months from the date on which these financial statements are approved.

Fundraising

The charity has no fundraising activities requiring disclosure under S162A of the Charities Act 2011.

6

The Ian Karten Charitable Trust

Report of the trustees

For the year ended 30 September 2021

Structure, governance and management

Having now established a sufficient number of Karten Centres the trustees have resolved:

Plans for the future

The Trust intends to continue making grants to institutions and Karten Centres as it has in previous years.

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and 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 the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which 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 constitution. The trustees 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditors

Godfrey Wilson Limited were re-appointed as auditors to the charity during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 22 March 2022 and signed on their behalf by

Anthony Davis

Anthony Davis – Trustee

7

Independent auditors' report

To the members of

The Ian Karten Charitable Trust

Opinion

We have audited the financial statements of The Ian Karten Charitable Trust (the 'charity') for the year ended 30 September 2021 which comprise the statement of financial activities, balance sheet, statement of cash flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

8

Independent auditors' report

To the members of

The Ian Karten Charitable Trust

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out in the trustees’ report, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below:

(1) We obtained an understanding of the legal and regulatory framework that the charity operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of non-compliance.

9

Independent auditors' report

To the members of

The Ian Karten Charitable Trust

(2) We reviewed the charity’s policies and procedures in relation to:

(3) We inspected the minutes of trustee meetings.

(4) We enquired about any non-routine communication with regulators and reviewed any reports made to them.

(5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations.

(6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error.

(7) We assessed the risk of fraud through management override of controls and carried out procedures to address this risk. Our procedures included:

▪Testing the appropriateness of journal entries;

▪Testing transactions that are unusual or outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charityʼs trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charityʼs trustees those matters we are required to state to them in an auditorʼs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charityʼs trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Godfrey Wilson Limited

Date: 23 March 2022

GODFREY WILSON LIMITED

Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

10

The Ian Karten Charitable Trust

Statement of financial activities

For the year ended 30 September 2021

Note
Income from:
Investments
2
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
3
Net gains / (losses) on investments
10
4
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Net income / (expenditure) and net movement
in funds		 2021
Total
£
429,929
250
430,179
82,365
275,090
357,455
2,167,579
2,240,303
13,135,512
15,375,815		 2020
Total
£
410,472
-
410,472
83,078
434,065
517,143
(1,397,380)
(1,504,051)
14,639,563
13,135,512

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. All income and expenditure in the current and prior period were unrestricted.

11

The Ian Karten Charitable Trust

Balance sheet

As at 30 September 2021

Note
Fixed assets
Investments
10
Current assets
Debtors
11
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
12
Net current assets
Total assets less current liabilities
13
Net assets
Funds
Unrestricted funds
14
Total funds
Creditors: amounts falling due after more than 1
year		 £
508
817,676
818,184
151,055		 2021
£
14,708,686
667,129
15,375,815
-
15,375,815
15,375,815
15,375,815		 2020
£
12,261,914
985
1,093,771
1,094,756
204,491
890,265
13,152,179
16,667
13,135,512
13,135,512
13,135,512

Approved by the trustees on 22 March 2022 and signed on their behalf by

Anthony Davis

A Davis - Trustee

12

The Ian Karten Charitable Trust

Statement of cash flows

For the year ended 30 September 2021

Cash used in operating activities:
Net movement in funds
Adjustments for:
(Gains) / losses on investments
Dividends, interest and rents from investments
Decrease / (increase) in debtors
Increase / (decrease) in creditors
Net cash provided by / (used in) operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Proceeds from the sale of investments
Purchase of investments
Net cash provided by / (used in) investing activities
Increase / (decrease) in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Analysis of cash at bank and in hand:
Cash held in current accounts
Cash held within investment portfolio		 2021
£
2,240,303
(2,167,579)
(429,929)
477
(70,103)
(426,831)
429,929
882,361
(1,161,554)
150,736
(276,095)
1,093,771
817,676
234,496
583,180
817,676		 2020
£
(1,504,051)
1,397,380
(410,472)
3,242
(234,465)
(748,366)
410,472
881,925
(349,290)
943,107
194,741
899,030
1,093,771
79,439
1,014,332
1,093,771

The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.

13

The Ian Karten Charitable Trust

Notes to the financial statements

For the year ended 30 September 2021

1. Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The Ian Karten Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern. Although the COVID-19 pandemic has had a profound impact on the global economy, the trustees have considered the impact of this issue on the charity’s current and future financial position and consider that the charity has sufficient reserves to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

d) Investment income

Interest on funds held on deposit, dividends and other investment income are included when receivable and the amount can be measured reliably by the charity. This is normally upon notification of the amounts paid or payable by the bank or investment managers.

e) Funds accounting

The charity holds unrestricted general funds only.

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

f) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

14

The Ian Karten Charitable Trust

Notes to the financial statements

For the year ended 30 September 2021

g) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated in full to expenditure on charitable activities.

h) Grants payable

Grants payable are charged in the year in which they are authorised by the trustees and the offer is conveyed to the recipient, except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attached have been fulfilled. Grants offered subject to conditions at the year end are noted as commitment but are not accrued as expenditure.

i) Listed investments

Investments in quoted shares, traded bonds and similar investments are measured initially at cost and subsequently at fair value (their market value). The statement of financial activities includes the net gains and losses arising on revaluations and disposals throughout the year.

j) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

k) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

l) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

m) Financial instruments

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

15

The Ian Karten Charitable Trust

Notes to the financial statements

For the year ended 30 September 2021

n) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.

2. Investment income

Dividend income
Interest receivable
Total income from investments		 2021
Total
£
405,446
24,483
429,929		 2020
Total
£
377,464
33,008
410,472

All investment income in the current year and prior year is unrestricted.

16

The Ian Karten Charitable Trust

Notes to the financial statements

For the year ended 30 September 2021

3. Total expenditure

Raising
funds
£
Investment management costs
82,365
-
Grants to Karten Centres (note 6)
-
Karten Network (note 6)
-
Administration costs
-
Audit fees
-
Legal fees
-
Sub-total
82,365
-
Total expenditure
82,365
Prior period comparative:
Raising
funds
£
Investment management costs
83,078
-
Grants to Karten Centres (note 6)
-
Karten Network (note 6)
-
Administration costs
-
Audit fees
-
Legal fees
-
Trustee remuneration
-
Trustees expenses
-
Sub-total
83,078
-
Total expenditure
83,078
Allocation of support and
governance costs
Allocation of support and
governance costs
Educational grants, scholarships and
bursaries (note 5)
Educational grants, scholarships and
bursaries (note 5)
Total governance costs were £4,840 (2020: £5,661).		 Charitable
activities
£
-
70,595
112,320
60,000
4,829
-
-
247,744
27,346
275,090
Charitable
activities
£
-
130,423
202,163
80,000
5,371
-
-
3,313
-
421,270
12,795
434,065		 Support and
governance
costs
£
-
-
-
-
-
4,840
22,506
27,346
(27,346)
-
Support and
governance
costs
£
-
-
-
-
-
4,970
7,134
-
691
12,795
(12,795)
-		 2021 Total
£
82,365
70,595
112,320
60,000
4,829
4,840
22,506
357,455
-
357,455
2020 Total
£
83,078
130,423
202,163
80,000
5,371
4,970
7,134
3,313
691
517,143
-
517,143

17

The Ian Karten Charitable Trust

Notes to the financial statements

For the year ended 30 September 2021

4. Net movement in funds

This is stated after charging:

Trustees' remuneration
Trustees' reimbursed expenses
Auditors' remuneration:
Statutory audit (including VAT)		 2021
£
Nil
Nil
5,040		 2020
£
3,313
691
4,970

Trustees' remuneration in 2020 comprises salary paid to one trustee for administrative duties in accordance with the amended Trust Deed. They have now resigned.

Trustees' reimbursed expenses comprises payments for meeting expenses incurred for 3 trustees in 2020. There were no reimbursed expenses in 2021.

5. Educational grants, scholarships and bursaries The trust has made a number of donations to educational institutions to fund scholarships and bursaries:

Birkbeck College
British Friends of the Hebrew University (BFHU)
Parkes Inst. Southampton University
Southampton University
The Anne Frank Educational Trust Ashkelon Foundation
The Woolf Institute		 2021
£
16,128
-
44,967
(2,000)
1,500
10,000
70,595		 2020
£
15,120
2,000
62,553
50,000
750
-
130,423

The SOFA charge reflects new commitments made to individuals and institutions and commitments withdrawn or reversed in the year.

18

The Ian Karten Charitable Trust

Notes to the financial statements

For the year ended 30 September 2021

6.
Other charitable donations
Karten Centres:
Aspire
Beacon
Beaumont College
Caritas St Joseph's
Boveridge College
ESPA
The Grange
Hope School & College (The Hamlet)
IsrALS
Kisharon, Hendon
Langdon College, Salford
Linkage Toynton
Linkage Weelsby
Motor Neurone Disease Assocation
Natspec (TechAbility)
Orchardville
Policy Connect
Portland College
QEF
Sense College, Bedford
St John's College, Brighton (Inklusion)
Treloar College, Alton
Sub-total
Karten Network
Total donations		 2021
£
-
19,984
-
18,264
-
15,700
-
-
-
(122)
-
19,872
-
(838)
46,150
-
-
(5,973)
-
-
(717)
-
112,320
60,000
172,320		 2020
£
(307)
-
(6)
-
(820)
-
(36)
8,089
22,736
6,393
(631)
-
(145)
24,948
46,150
(663)
10,000
24,802
(350)
25,000
18,371
18,632
202,163
80,000
282,163

The SOFA charge reflects new commitments made to individuals and institutions and commitments withdrawn or reversed in the year.

7. Grants payable

Creditor brought forward
Expensed in the year
Paid in the year
Creditor carried forward		 2021
£
215,390
242,915
(317,990)
140,315		 2020
£
451,783
332,586
(568,979)
215,390

19

The Ian Karten Charitable Trust

Notes to the financial statements

For the year ended 30 September 2021

8. Staff costs and numbers

The charity does not employ staff. The trustees are all volunteers and there is a part-time administrator engaged on a freelance basis.

Average head count 2021
No.
Nil		 2020
No.
Nil

9. Taxation The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

10. Investments

Market value at 1 October 2020
Additions
Disposals proceeds
Realised and unrealised gains / (losses)
Market value at 30 September 2021
Historical cost:
At 30 September 2021
Debtors
Accrued interest
Creditors: amounts due within 1 year
Scholarships and bursaries
Donations to other charities
Accrued expenses		 2021
£
12,261,914
1,161,554
(882,361)
2,167,579
14,708,686
9,649,059
2021
£
508
2021
£
27,667
112,648
10,740
151,055		 2020
£
14,191,929
349,290
(881,925)
(1,397,380)
12,261,914
8,940,770
2020
£
985
2020
£
42,787
155,936
5,768
204,491

11. Debtors

12. Creditors: amounts due within 1 year

20

The Ian Karten Charitable Trust

Notes to the financial statements

For the year ended 30 September 2021

13. Creditors: amounts falling due after more than 1 year

Scholarships and bursaries
14. Movements in funds
At 1 October 2020
Net income / (expenditure)
Realised and unrealised gains / (losses) on investments
At 30 September 2021
15. Financial instruments at fair value
Financial assets measured at fair value		 2021
£
-
2021
£
13,135,512
72,724
2,167,579
15,375,815
2021
£
14,708,686		 2020
£
16,667
2020
£
14,639,563
(106,671)
(1,397,380)
13,135,512
2020
£
12,261,914

Financial assets measured at fair value comprise listed and unlisted investments.

16. Related party transactions

There were no related party transactions during the current or prior year.

21