2022-04-05-accounts

The Schmidt-Bodner Charitable Trust

Financial Statements Year Ended 5 April 2022 Charity No: 283014

THE SCHMIDT-BODNER CHARITABLE TRUST

Report and Financial Statements for the year ended 5 April 2022

Contents

Page:

1 Reference and Administration details 2-3 Report of the Trustees 4 Independent Examiner's Report 5 Statement of Financial Activities 6 Balance Sheet 7-9 Notes forming part of the Financial Statements 10 Appendix

Trustees

Daniel Isaac Dover Martin David Paisner CBE Harvey Rosenblatt Principal Office 16 Caenwood Court, Hampstead Lane, London, N6 4RU Accountants BDO LLP, 55 Baker Street, London, W1U 7EU

Principal Office

Independent Examiner

Perrys Audit Limited, Churchdown Chambers, Bordyke, Tonbridge, Kent, TN9 1NR Bankers Barclays Private Bank Ltd, 1 Churchill Place, London, E14 5HP Solicitors Payne Hicks Beach, Lincoln's Inn, 10 New Square, Holborn, London, WC2A 3QG

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THE SCHMIDT-BODNER CHARITABLE TRUST

Report of the Trustees for the year ended 5 April 2022

The Trustees present their report along with the financial statements of the charity for the year ended 5 April 2022. The Financial Statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity’s trust deed and applicable law.

Structure, Governance and Management

The Schmidt-Bodner Charitable Trust is constituted under a Trust Deed dated 1 July 1981 created by the settlor, Benno Schmidt-Bodner. It is a registered charity number 283014.

The Trustees who have served during the year and since the year end are set out on page 1. When there is a requirement for new Trustees, these would be identified and appointed by the remaining Trustees.

At the Annual Trustees' meeting, the Trustees agree the broad strategy and areas of activity for the Trust, including consideration of grant making, investment, reserves and risk management policies and performance.

Risk management

The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that such risks are continuously monitored and that appropriate steps can be taken to lessen these risks.

Objectives and Activities

The objects of the charity are to apply the income and capital of the trust for charitable purposes as the Trustees shall in their absolute discretion determine.

Grant making policy

All applications received are considered by the Trustees on their own merit for suitability of funding.

Public benefit

In meeting the objectives the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit and judge that all donations made meet this guidance. All donations are listed in note 5 on page 8.

Achievements and Performance

The Trustees have continued to apply their funds in accordance with the objectives of the Trust and their grant making policy. Donations totalling £88,000 have been made in the year (2021: £96,300) and are detailed in note 5 of these financial statements.

Financial Review

The market value of the investment portfolio at 5 April 2022 was £2,040,330 (2021: £1,918,105).

Reserves policy

The Trustees’ policy is to maintain their continuing level of support under the grant making policy that they have agreed. If income resources are insufficient to cover the grants then recourse is made to the other funds of the Trust. The Trustees do not consider that any minimum level of resources is required.

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THE SCHMIDT-BODNER CHARITABLE TRUST Rewt of the Trustees fw the year ended 5 Aprll 20221c¢)ntlnued) Plan5 for the future The Trustees intend to continue prtividing grants In a similar way to the rettnt past retalnln8 flexlblllty as to the tlmlng. and scale of grant making. Tru5teès' resp(mslbllltle5 In rèlati¢)n to the flnancial #atements Law appllcable to charftles in England and Wales reoufjres the TfU5tees to prepare flnanclal statements for each flnancial year vthlch glve a true and falr vlew of the charlty's flnancial activities durlng the year and of Its flnandal ph)sltlon at the end of the year. In preparlr@ fIna￿la1 Statements, the Tntstee5 are requlred to: select sultable accouDtlng p)ITcles and then apply them c(￿ststentIY. make Judgements and estlmate5 that are reas(￿ats1e arwj prtht. state whether appllcable a(C￿nting standards and statements of recommended practlce have been followed subject to any departures dlsclosed and expialned In the flnanclal statements. and prepare the financial statements on the goin8 concern ba51s ￿lesS It ts Inapproprfate to presume that the charlty VAIL contlnue In operatlon. The Trustees are resp(￿s1b1e for keeplng attountlng records whlch thsclo* wlth reasonable accuracy at any tlme the flnanclal positlon of the charlty and enable them to ensure that the flnanclal statements comply wlth the Charltles Act 2011, the Charlty IAccounts a￿￿ Rerxytsl Regulat1￿5 and the Trust Deed. They are also responsible for safeguardln8 the assets of the charity and hence for tskTrq reasonable steps for the preventlon and detectlon of fraud and other Irregularltles. Approved by the Trustees and slgned thelr tohalf ty. ryey Rosenblatt Tnjstee Date:

THE SCHMIDT-BODNER CHARITABLE TRUST

Independent Examiner’s Report to the Trustees

We report to the Trustees on my examination of the accounts of The Schmidt-Bodner Charitable 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’). We report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination giving us 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.

We 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.

S Hale

Steve Hale FCA, FCCA on behalf of

Perrys Audit Limited

Churchdown Chambers Bordyke Tonbridge Kent TN9 1NR 31.1.23 Date:

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THE SCHMIDT-BODNER CHARITABLE TRUST

Statement of Financial Activities for the year ended 5 April 2022

Notes Incoming Resources Investments 2 Total Incoming Resources Resources Expended Charitable activities Cost of generating funds 3 Support costs 4 Donations payable 5 Total Resources Expended Net Resources Expended Other recognised gains/(losses) Realised gains in year on the sale of investments 6 Movement in unrealised valuation in the year 6 Net movement in funds Total funds at 6 April 2021 Total funds at 5 April 2022	2022 £ 26,167 26,167 3,319 2,846 88,000 94,165 (67,998) 171,476 134,528 238,006 1,918,315 2,156,321	2021 £ 27,634
		27,634
		3,037 2,866 96,300
		102,203
		(74,569) 29,571 324,142
		279,144 1,639,171
		1,918,315

All funds are unrestricted and relate to continuing activities.

The notes on pages 7 to 9 form part of these financial statements

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THE SCHMIDT-BODNER CHARrrABLE TRUST Bakin￿ Sheet as at 5 Aprfl 2022 Notes 2022 2021 Flxed Assets Investments 2.040.3JO 1,918,105 Current Assets Cash at bank arKI In hand 121.187 3,076 Current Llabllltles Credltors (5.196) 12,8661 Net Current Assets 115,991 210 Total Net Assets 2,156,321 1.918,315 Funds Unrestrftted 2.156.321 1,918.315 Approved by the Trustees and 51wed ￿ thelr tehalf by: Rosenblatt Trustee Date: The notes on pages 7 to 9 form part of these financlal statements

THE SCHMIDT-BODNER CHARITABLE TRUST

Notes to the Financial Statements for the year ended 5 April 2022

1 Principal Accounting Policies

(a) Accounting Convention

The financial statements are prepared under the historical cost convention and in preparing the financial statements the charity follows best practice as laid down in the Statement of Recommended Practice “Accounting and Reporting by Charities” (Charities SORP (FRS 102)) and comply with the Charities (Accounts and Reports) Regulations 2008 issued under the Charities Act 2011.

(b) Donations, legacies and similar income

Donations, legacies and similar income are shown in the accounts when receivable and the value of the incoming resources can be measured with sufficient reliability.

(c) Investment income

Investment income is accounted for in the period in which the charity is entitled to receipt.

(d) Resources expended

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis.

(e) Costs of generating funds

Costs of generating funds comprise those costs directly attributable to managing the investment portfolio and raising investment income.

(f) Governance costs

Governance costs comprise costs relating to the general running of the charity as opposed to those associated with generating funds or charitable activity.

(g) Fixed asset investments

Investments are stated at closing market value at the balance sheet date. Any gains or losses on revaluation and disposal are shown in the Statement of Financial Activities.

(h) Going concern

The trustees consider that there are no material uncertainties about the ability to continue as a going concern.

2 Investment income Overseas Dividends 3 Cost of generating funds Investment management fees	2022 £ 26,167 2022 £ 3,319	2021 £ 27,634
		2021 £ 3,037

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THE SCHMIDT-BODNER CHARITABLE TRUST

Notes to the Financial Statements for the year ended 5 April 2022

4 Support costs 2022 £ Accountancy fees 2,330 Independent examiner fees 516 2,846 5 Donations payable 2022 £ British Friends of Ohel Sarah 1004992 3,000 British Friends of Or Chadash 1002594 5,000 British Friend of Tzohar 1183591 3,000 Chief Rabbinate Trust 1095878 10,000 Community Security Trust 1042391 25,000 Hasmonean High School Charitable Trust 1068303 - Holocaust Educational Trust 1092892 10,000 Jewish Leadership Council 1115343 - JW3 Development 1156248 5,000 Magen David Adorn 1113409 3,000 Target Ovarian Cancer 1125038 - Weizmann UK Rosenblatt Mc 232666 5,000 Work Avenue Foundation 1164762 - World Jewish Relief 290767 19,000 88,000 6 Investments £ £ Market value at 6 April 2021 1,918,105 Acquisition cost in the year 18,161 Proceeds from disposals in the year (201,940) (183,779) Realised gains / (losses) on disposals 171,476 Movement in unrealised valuation 134,528 306,004 Market value at 5 April 2022 2,040,330 Cost at 5 April 2022 143,512 2022 Registered Charity No.	2021 £ 2,350 516 2,866 2021 £ 5,000 6,500 - 10,000 50,000 5,000 - 1,800 5,000 - 3,000 - 10,000 - 96,300 £ £ 1,568,313 27,634 (31,555) (3,921) 29,571 324,142 353,713 1,918,105 155,815 2021	2021 £ 2,350 516
		2,866
		2021 £ 5,000 6,500 - 10,000 50,000 5,000 - 1,800 5,000 - 3,000 - 10,000 -
		96,300
	29,571 324,142
		1,918,105
		155,815

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THE SCHMIDT-BODNER CHARITABLE TRUST

Notes to the Financial Statements for the year ended 5 April 2022

7 Cash at bank and in hand Barclays Private Bank Account Barclays Wealth Savings Account 8 Creditors: Amounts falling due within one year Accountancy Fees Independent Examiners fees	2022 £ 121,186 1 121,187 2022 £ 4,680 516 5,196	2021 £ 3,075 1
		3,076
		2021 £ 2,350 516
		2,866

9 Related Party Transactions

Martin David Paisner CBE is a Partner of Paynes Hick Beach. This firm provided, and continues to provide, legal services for the Trustees. No fees were paid to the firm during the year to 5 April 2022.

Daniel Isaac Dover is a Partner of BDO LLP. This firm provided, and continues to provide, accountancy services for the Trustees. The total fees invoiced by the firm during the year to 5 April 2022 were £2,330 (2021 - £2,350). At the year end there are fees due to BDO LLP of £4,680 currently shown in the creditors balance.

No Trustee received any remuneration or was reimbursed for expenses during either year.

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THE SCHMIDT-BODNER CHARITABLE TRUST Appendlx Schedule of Investments 5 April 2022 10

THE SCHMIDT-BODNER CHARITABLE TRUST

Schedule of Investments for the year ended 5 April 2022

Units Cost Value Units Cost Units £ £ Experian Group Ltd Ordinary US$0.10 shares 06-Apr-21 b/fwd 75,338 155,815 1,918,105 16-Apr-21 Dividend reinvestment (338) (8,006) 02-Jul-21 Sale 3,000 23-Jul-21 Dividend reinvestment 562 17,683 04-Feb-22 Dividend reinvestment 273 8,485 21-Mar-22 Sale 3,835 05-Apr-22 c/fwd 155,815 1,918,105 18,161 Acquisitions Opening Balances	Proceeds Cost Profit/Loss Units £ £ £ 85,344 22,488 62,857 116,596 7,976 108,620 69,000 201,940 30,464 171,476 Disposals	Cost Value Income £ £ £ 143,512 2,040,330 26,167 Closing
		143,512 2,040,330 26,167

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