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2024-09-30-accounts

Charity no. 281721

The Ian Karten Charitable Trust Report and Audited Financial Statements 30 September 2024

The Ian Karten Charitable Trust

Reference and administrative details

For the year ended 30 September 2024

Charity number 281721
Registered office International House
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 2024

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 2024. 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. Between July 2024 – July 2025 the Administrator role is being undertaken by Pamela Johnson, Ines Meza-Mitcher’s maternity cover. The investment managers Charles Stanley 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 are disclosed in note 4 to the accounts and related party transactions are disclosed in note 14. Trustees are required to disclose all relevant interests. The Trust (as disclosed later) has a connection with Karten Network Limited (registered charity 1201993).

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 2024

In the last few years, advances in the technology available for disabled people have given the Trustees the opportunity to expand the support given to the Karten Centres and more generally, including supporting providing training and support the development of new technology, and supporting thought leadership in the social and legal environment. These activities are described in detail below.

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.

In the last 30 years, 81 Karten Centres in the UK and Eire and 8 in Israel have been established. 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; virtual reality; smart home technologies; immersive sensory solutions; printing solutions; interactive screen technologies; and specialist software. Increasingly, built in accessibility features are making mainstream devices more accessible for people with arrange of additional needs. Because of advances in technology, in recent years the Trust has focused increasingly on providing training and know-how for Centres as well as providing hardware.

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 universities and specialist colleges of further education, residential services and 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.

3

The Ian Karten Charitable Trust

Report of the trustees

For the year ended 30 September 2024

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 when appropriate 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.

The Karten Network

A key part of the concept of Karten Centres is 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'. The Karten Network Limited is a charitable company limited by guarantee. The board comprises Directors/Trustees who are independent of the Trust.

Some of the Trustees of the Karten Network are executives in 'host' organisations within which Karten Centres have been established, or of the Karten Centres themselves. The Karten Network organises events and activities to facilitate exchange of information and sharing best practice between the centres and provides advice and support to centres on technology and assistive technology. The Karten Network produces regular newsletters showcasing innovation and best practice in Karten Centres. The Karten Network supports professionals from different centres to meet other practitioners and visit Karten Centres of interest to inform developments and improvements in their own provision.

The Karten Network is delighted to be a partner in a collaborative project led by the University of Dundee. Other project partners are the Ace Centre and Natspec TechAbility. The project is funded by the Department for Education, and the consortium is working on the development of an Assistive Technology competency training framework.

The Karten Network is also involved in lobbying and representation at a national level, among others working with the All Party Parliamentary Group for Assistive Technology (APPGAT).

Natspec TechAbility

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 is match-funded by Natspec. There are two fulltime Assistive Technologists providing 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, webinars and courses, TechAbility organises a National Conference. TechAbility manages a Champions programme, with more than 80 assistive technology champions nationally enrolled.

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 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.

4

The Ian Karten Charitable Trust

Report of the trustees

For the year ended 30 September 2024

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 Hebrew University. A bursary at Warwick University previously funded over three years came to a conclusion in 2024. Two smaller awards were made to Aurora FE (a provider of care for young people and adults with special educational needs and disabilities) and Watts Gallery (donation for readoption of Lilian painting, in the name of Mildred Karten).

Southampton

The Trust has historically 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-JewishMoslem relations.

Founded by Ian’s personal connection to and appreciation of James Parkes and his work, this decades-long relationship enabled educational activities to expand and therefore advanced the outreach achieved by the Parkes Institute’s engagement programme.

Funding for Southampton is currently paused, pending discussions around the use of endowment funds provided during the lifetime of Ian Karten, but it is hoped that the relationship will resume in the near future.

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. The Trust has an ongoing relationship to support Birkbeck in its mission to remove barriers to education. Over 2,300 students, 22% of Birkbeck’s student body, live with one or more declared disabilities. The Birkbeck Ability Programme is a dedicated and award-winning 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 Birkbeck students to undertake paid work placements with employer partners. These 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 £222,358 (2023: £158,574) in regard to donations to charities and funded scholarships totalling £30,288 (2023: £37,160) to institutions and individuals. In total, the Trust had total realised incoming resources of £465,406 (2023: £447,593).

5

The Ian Karten Charitable Trust

Report of the trustees

For the year ended 30 September 2024

The total cost of charitable activities was £358,333 compared with £341,466 previously. The cost of raising funds was £89,037 (2023: £86,787).

Review of investments

The income of the Trust has been affected by financial uncertainty due to international events in previous years. 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 an improvement when viewed against benchmarks and the previous year.

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, and determined that an appropriate level approximates to planned grant-making expenditure in the following year plus any unpaid grants payable, or c. £450k. The free reserves held at 30 September 2024 total £429,213 (2023: £383,706), in line with this target. The Trustees consider the level of free reserves at 30 September 2024 to be appropriate to continue the current activities of the charity and to fund their plans for future periods as detailed below. In the event of a shortfall, the Trustees are readily able to supplement free reserves by drawing down on investments held.

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.

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 2024

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 a grant available to The Karten Network and its Centres. A new agreement which will see 50% of the Trust’s income paid to Karten Network will then enable them to distribute funding to Centres as they deem appropriate from 2025. This agreement in principle will take effect from the 2024/25 financial year with Trustee approval of the agreement at the IKCT 13 March 2025 Board meeting.

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.

7

The Ian Karten Charitable Trust

Report of the trustees

For the year ended 30 September 2024

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 13 March 2025 and signed on their behalf by

Anthony Davis – Trustee

8

Independent auditors' report

To the trustees 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 2024 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 the provisions available for small entities, in the circumstances set out in note 4 to the financial statements, 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 other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

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.

9

Independent auditors' report

To the trustees of

The Ian Karten Charitable Trust

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require 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

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

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

10

Independent auditors' report

To the trustees of

The Ian Karten Charitable Trust

(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;

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: 14 March 2025

GODFREY WILSON LIMITED

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

Godfrey Wilson Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

11

The Ian Karten Charitable Trust

Statement of financial activities

For the year ended 30 September 2024

For the year ended 30 September 2024
Note
Income from:
Investments
2
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
3
Net gains on investments
10
Net income and net movement in funds
4
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 2024
Total
£
465,406
465,406
89,037
358,332
447,369
1,219,463
1,237,500
14,762,272
15,999,772		 2023
Total
£
447,593
447,593
86,787
341,466
428,253
748,796
768,136
13,994,136
14,762,272

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 periods was unrestricted.

12

The Ian Karten Charitable Trust

Balance sheet

As at 30 September 2024

Note
Fixed assets
Investments
10
Current assets
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
11
Net current assets
Net assets
Funds
Unrestricted funds
12
Total funds		 £
559,453
559,453
(130,240)		 2024
£
15,570,559
429,213
15,999,772
15,999,772
15,999,772		 2023
£
14,378,566
515,934
515,934
(132,228)
383,706
14,762,272
14,762,272
14,762,272

Approved by the trustees on 13 March 2025 and signed on their behalf by

Anthony Davis – Trustee

13

The Ian Karten Charitable Trust

Statement of cash flows

For the year ended 30 September 2024

Cash used in operating activities:
Net movement in funds
Adjustments for:
Gains on investments
Dividends, interest and rents from investments
Decrease in creditors
Net cash 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 investing activities
(Decrease) / increase 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 and cash equivalents:
Cash held in current accounts
Cash held in investment portfolio		 2024
£
1,237,500
(1,219,463)
(465,406)
(1,988)
(449,357)
465,406
372,581
(462,926)
375,061
(74,296)
638,508
564,212
559,453
4,759
564,212		 2023
£
768,136
(748,796)
(447,593)
(7,106)
(435,359)
447,593
351,762
(200,476)
598,879
163,520
474,988
638,508
515,934
122,574
638,508

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

14

The Ian Karten Charitable Trust

Notes to the financial statements

For the year ended 30 September 2024

1. Accounting policies

a) General information and basis of preparation

The Ian Karten Charitable Trust is an unincorporated charity registered in England and Wales. The registered office address is 64 Nile Street, London, N1 7SR.

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, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern.

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.

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.

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The Ian Karten Charitable Trust

Notes to the financial statements

For the year ended 30 September 2024

h) Grants payable

Grants payable are charged in the year in which they are authorised by the trustees and the offer is formally 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 commitments 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. Cash held by the investment managers for the purposes of re-investment is included within listed investments on the balance sheet.

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.

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.

16

The Ian Karten Charitable Trust

Notes to the financial statements

For the year ended 30 September 2024

2. Investment income

Investment income
Dividend income
Interest receivable
Total income from investments		 2024
Total
£
453,046
12,360
465,406		 2023
Total
£
445,097
2,496
447,593

All investment income in the current and prior years was unrestricted.

17

The Ian Karten Charitable Trust

Notes to the financial statements

For the year ended 30 September 2024

3. Total expenditure

Investment management costs
Grants to Karten Centres (note 6)
Karten Network (note 6)
Other purchases
Administration costs
Audit and accountancy fees
Legal fees
Trustee expenses
Sub-total
Total expenditure
Prior period comparative:
Investment management costs
Grants to Karten Centres (note 6)
Karten Network (note 6)
Administration costs
Audit and accountancy fees
Legal fees
Trustee expenses
Sub-total
Total expenditure
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 £6,512		 Raising
funds
£
89,037
-
-
-
-
-
-
-
-
89,037
-
89,037
Raising
funds
£
86,787
-
-
-
-
-
-
-
86,787
-
86,787
(2023: £6,299).		 Charitable
activities
£
-
30,288
222,358
72,000
1,500
-
-
-
-
326,146
32,186
358,332
Charitable
activities
£
-
37,160
158,574
69,000
-
-
-
-
264,734
76,732
341,466		 Support and
governance
costs
£
-
-
-
-
-
4,239
6,846
21,009
92
32,186
(32,186)
-
Support and
governance
costs
£
-
-
-
-
3,595
6,482
66,536
119
76,732
(76,732)
-		 2024 Total
£
89,037
30,288
222,358
72,000
1,500
4,239
6,846
21,009
92
447,369
-
447,369
2023 Total
£
86,787
37,160
158,574
69,000
3,595
6,482
66,536
119
428,253
-
428,253

18

The Ian Karten Charitable Trust

Notes to the financial statements

For the year ended 30 September 2024

4. Net movement in funds

This is stated after charging:

Trustees' remuneration
Trustees' reimbursed expenses
Auditors' remuneration:
Statutory audit (excluding VAT)		 2024
£
Nil
92
5,350		 2023
£
Nil
119
5,150

Trustees' reimbursed expenses comprises payments for travel expenses incurred for 1 trustee in both the current and prior years.

In common with other charities of our size and nature we use our auditors to assist with the preparation of the financial statements.

5. Educational grants, scholarships and bursaries

The trust has made a number of donations to educational institutions to fund scholarships and bursaries:

Birkbeck College
The Woolf Institute
British Friends of the Hebrew University (BFHU)		 2024
£
18,288
10,000
2,000
30,288		 2023
£
20,160
15,000
2,000
37,160

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

19

The Ian Karten Charitable Trust

Notes to the financial statements

For the year ended 30 September 2024

6. Other charitable donations

Karten Centres:
Natspec (TechAbility)
Norwood
BID
Aspire
Seescape
The Hamlet
St Mary's CDP (BuzzHub)
Aurora Boveridge
Ambitious about Autism
Linkage Community College
The Meath
Queen Alexandra College
Orchardville Society
Langdon College, Salford
Fife College
Queen Elizabeth Foundation
Grants written back
Sub-total
Karten Network
Total donations		 2024
£
59,950
-
-
-
-
-
-
-
24,976
24,903
24,196
21,961
21,956
17,984
15,754
10,678
-
222,358
72,000
294,358		 2023
£
69,950
24,662
20,168
18,030
11,809
11,341
5,193
480
-
-
-
-
-
-
(3,059)
158,574
69,000
227,574

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		 2024
£
126,048
324,646
(327,227)
123,467		 2023
£
133,038
264,734
(271,724)
126,048

20

The Ian Karten Charitable Trust

Notes to the financial statements

For the year ended 30 September 2024

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 2024
No.
Nil		 2023
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 2023
Additions
Disposals proceeds
Net gains on investments
Market value at 30 September 2024
Cash held pending reinvestment
Total investments
Investments comprise:
Listed investments
Cash and cash equivalents
Total investments		 2024
£
14,255,992
462,926
(372,581)
1,219,463
15,565,800
4,759
15,570,559
15,565,800
4,759
15,570,559		 2023
£
13,658,482
200,476
(351,762)
748,796
14,255,992
122,574
14,378,566
14,255,992
122,574
14,378,566

11. Creditors: amounts due within 1 year

Scholarships and bursaries
Donations to other charities
Accrued expenses
Other creditors		 2024
£
25,200
98,267
6,420
353
130,240		 2023
£
13,579
112,469
6,180
-
132,228

21

The Ian Karten Charitable Trust

Notes to the financial statements

For the year ended 30 September 2024

12. Movements in funds

12. Movements in funds
At 1 October 2023
Net income before gains
Net gains on investments
At 30 September 2024
13. Financial instruments at fair value
Financial assets measured at fair value		 2024
£
14,762,272
18,037
1,219,463
15,999,772
2024
£
15,565,800		 2023
£
13,994,136
19,340
748,796
14,762,272
2023
£
14,255,992

Financial assets measured at fair value comprise listed investments.

14. Related party transactions

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

22