THE SYDF4bY & PHYLLIS GOLDJILRG MKMORIAL CHARFfABLE TRUST REPORT AM) FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 CUAHITY REI GISTRATION E+lUMBEI R 291834
THE SYDNEY & PIIYLLIS GOLDIIERG MEMORIAL CHAIUTABLE TRUST Conteiits PRge No,. Ileport of tlie trusl¢Gs Repoit of Ilie aiiditors Statement of fin)ii¢ial aolivilies Balanc¢ sheet 10 Nol¢s forilling pnrt of tl)e financial statements 11- 14
THE SYDNEY & PHYLLIS COLDBERG MFMORIAL CHAiUTABLK TRUST REPORT OF THE TRusfEES FOR THJ£ YEAR ENDfi D 5 APRII., 2024 The Ii'ust¢es present Il)¢ir r¢poi't togetlier ivitl) the financ£al stal¢iTtwit5 of tli¢ ¢liai'ily for tlie year ¢nd¢d 5 April 2024. Tlie finaiicial slaleni¢nl$ have be¢ii prepaitd in accordrtiice ivitli the Slal¢ment of Reeokiilneiided Practice applicltble lo cliarilies PJEpariDg Ih¢ii- aeeoiinls in accordance ivitl) applicablc laiv aiul United Kingdom Aceouiiltng Staiidar(Is. incliidiiig Financial R¢poiting Standard 102 Tlie Fiiiaiicial Reportiiig Standatd applicable iii th¥ UK R¢public of Irelan(l (United Kingdom (T¢nerAlly Accepted Accouiltil Practice) aiid coinply iviili th¢ ¢liarily's Iriisl deed and Ilie CIMI'ities Act 2011. Legal aiid Ailmlnl$(rttllvo Infoi'mqtion Ti'uslees M J Church C J Pekloii Prineiii&l Offiee 9 Bonliill Slr¢et, London, EC2A 4DJ ChArily Nuinber: 291835 Auilitors RPG Cn)wli Cliupittan LLP. 40 Gra¢¢¢hVh Sireel. l.ondon EC3V OBT Ilaiiken HSBC Bo1& Pl¢, 28 Boi'oiigl) Higli Sti¢el. &)iiiliiYark. London. SEI I YB InYe$tmeut Advi5or8 J M Fiiiii & Co, 60 Abb¢ygal¢ Str¢¢t, Buiy St EdmiEnds. Suffolk, IP33 ILB Structure, GOV.ne¢ Maiiageuient Trustees an(1 Or£Rnisalion#l Struf ture The Trust was Cl'¢Pted by Sydiiey Phyllis GE)Idborg by # Th'ust Deed dated 8 May 1985. Th¢ Settlors gave an tnilial 8ift of£ioo to Ilie Triist. Phyllis Goldberg died on I l April 1990, Sydn¢y Goldbcrg hftving pr¢-d¢¢eas¢d li¢r. Und¢r Ihe terms of her Will, Phyllis CJDldbei-g beqiieathed lo tlie Trnst the ivhole of li¢r Iioldiiig iii Syona Inveslin¢iits Limitd and iipon tlie deatli of a lif¢ leniEif. iiits iYliol¢ of her r¢$iduaiy Bstate (See Noie 3 01) page I l). I'lie power of appoinling n¢iv or oddilioiial trustees was v¢sted ill tlie Settlors or the siirvtvor th¢iEof gnd thereafter iii Ilie siiyviving oi. ¢onlin41ing Inistees. (i)
THK SYDN.KY & PIIYLLIS GOLDBERG MCI MORIAL ClIAtUTABLE TRUST llEPORT OF THE TRUSTEES FOR THE AR ENDED 5 APRIL 2024 (CONTINULD) Triistees OIEO11188tional S*ructMI'¢ (Coiititive(l) The truste¢s Ineet as coiisidei'ed iiec¢ssary, aiid noi less tl)ai? once ca¢h yonr. A c510irJnan Is appoiiiled by tlie tiJi%tees to iii&nage tlie day-ro-day operations of Ili¢ Cliarily. Tli¢ IrLlSlees liave poivei. lo appoint additlOll81 tn15tg¥s if J¢4uired. Tlie illiniinLiin iiiiillb¢i' of Ir115t¢¢s is tiyo. Riskmomageiiieiil Thc ti'usle¢s liave iiilrodEi¢ed a formftl i'isk mullageineiFI prtsceqs lo assess tisks oiid implemcnt i'isk IDAnag¢meiit slrntegtes. Tlie risk associated iviili tlio Inaiiagei))¢iit of iiiveslin¢i)Is is addT¢sg¢d by tk¢ appoii)tii)eiil of iiiveslin¢nt lldvisots ivliose perEorm8nce is re8LIIHrly iiioftitored. Obje¢ilve5 Activiti Objects of tlie Cliarity The objecls of tli¢ Trust are to PBrp¢liiale tlie memory of %ydNey CJoldber8 and his ivife Phylli5 by usin8 tlie funds avLilabl¢ lo il for g¢iieral chari¢?ble purpos¢s. Thc Itustees cotifiTm ihat they liave roferred to Ilie 8uidaBc¢ colltatiied iii tIK Charily Coinmisgioii's gell¢ral guidan¢¢ oil piiblic b¢ii¢fit ivlien Jrvi¢iving Ilie Trusvs ain?s aiid objecliv¢g and in plniiniiig fL1thre activities and setting th¢ w'ant rnakin8 policy for th¢ y¢ar, Th¢ Triist eari'&es Out tli¢se objects by receiviiig Inoney ivliich is th¢ii distribirt¢d for charitable piirtK)se5 ii)cluding Inedical re5eai'¢h, Ivelfare aiid di5[lI1ty. Tlie dislribiitions made eacli y¢ar are s¢t out in Nol¢ 4 on pag¢ 12 togellier ivitli Hii indication of tli¢ ultimate benefi¢iai'i¢5 of each grant. Gyant Mokiiig Policy Th¢ Tr(Ist l)a8 esittblished its givnl making policy to a¢lii¢ve ils object5 for th¢ publio benefit by inviting applications exi51ing aiid pKvioiis donet charities aiid cliai'itAble causes favoiwed by Syiln¢y and Phyllis Goldbei'g aiid by advertisii)g tlie objectives in tlie Direolory of GrHnt Making Triists. 'I'he ch81.ity r¢qii¢s15 a copy of th¢ finAI reports on all re$earch for ivhich 8rllntS 8r6 made. Aehleyenients aiid Pei'foi'maiice Th¢ trusl¢¢s continued to r¢¢¢tve and review grant applicatio1 froiii i'arioiis ch3riti¢s. Tlie inveslinent portfolio, InAnftged by J M Finn & Co, pei'formed as ¢xp¢cled en¥4bling th¢ tru&te¢s to approv¢ £r8nt payments totalling £l15.000. (2)
T]IZ SYDP4F.Y & PHYLLJS GOLDBERG MEMORIAL CHARll'ABLL TRUST REPORT OF THL TRusfE£S f¢OR THE YEAII ENDED 5 APRIL 2024 {COIYIJNULD) FiJiAll¢5#1 Revie)Y Financtal AetiYilie.s Report All thc fiinds of the Ti'iist Al'e held for vni'csli'icted piii'posos. Tlie lolal inooin¢ for the yeor amoillited to £129,293 (2023: £122.547) and total expoiRdiliii¢ lysis £126,707 (2023.. £126,642) giviiig iiet incDiiie of £2,586 {2023: nel ¢xpenditure £4.095). 'fiie tnJsle¢s considered various cliarilable appeals resuliii)g in £115,000 (2023.. £115,QOO) being disiribuled by ivay of charilable gi'aiils as delailed lll Nole 4 on pagc 12. Tlie lolal asse15 iii ihe balaiice slieel OF £4.952,886 (2023.. £4,713,069) staled ftt Inai'k¢t valiie. Tlie value of tlie cliaritrf$ iiivesln)eiit poitfolio incirased by £237,231 (2023.. Dc¢rea5¢d by £211,491). It is ¢oi)firined Ilial (he Ti'iist's anlicipal¢d incoin¢ for ilie coIning year is ad¢qiiate to fliifil (he objec18 of Ili¢ Tru51. Key MU&geenÈ The Inistees consi(lei' Ihat Ilie board of ti'lfe¢S coiiipi'tse tlie kcy Inanftgemeiil pei701i11¢1 of Ili¢ charity. K¢y Mgelent does not iereiv¢ any r¢miiner81ion. Relllted P81ies Details of lAted party trRiisactions arc s¢1 oiit ill nole 8 to the fiinanGial Ststeinetlts. R¢Jeives Poll¢y It 18 the policy of t]ie ¢har&ty to: ill?ximise its iu¢oin¢ from tnv¢slinei?Is consonanl Ivltli ihe prnd¢ni mairtteii&nce oftli¢ Ti'ust Capital; maiiitaiii uni¥sli'icled fiinds whi¢li fjf¢ tli¢ free reserves of11)e Charity-, dislribiite all its ftel incoine after manageincnt adminislralion costs, by way of grnnls. Inve8fment Powei Tlie tr15Stecs lillve the i?ower lo iiivesl Inoiitsy and adopt siich measuiES as 5¢¢tn to ihein ne¢¢syary iii th¢ iiilere¥l of the Trnst, so that th¢ Trust holds a balan¢¢d porifolio siiitable for R charity to rai$c in¢oille iYhiGI) Ivill b¢ distributed as grar]ts. PIAns fol. tlie Future Th¢ triistee8 do not inieiid Inakiiig any Signific1¢ changes to ihe operation of the clirity. aiid aiili¢ip4le coiitiiiving to receive invesltnent income and identifying SilTlabl¢ claimaiils for grRnts. Fiiiidral$lllE The Cliarity does not engage iii fiiiidraisiilg activitA6s. (3)
THf. SYDNEY & PIIYLLIS GOLDBERG MEMORJAI. CHARITABLL TRUST REPORT OF THE TRUSTEES FOR THb YFAR fi NDXD 5 APRIL 2024 (CON'I'INUKJ)) Triistees, Ilesiionsibililies in Relatiou to the Financial Stllteiiitfjts Tli¢ ¢l)arity Irusle&4 are r¢5POllStble foi. pJ¢parRiig a lyiislces, aniiiial I'epoi'l and fiiiancÈal stal¢iii¢nls iii accordance iyiili applicable IKIV and Uiittcd Kingdom Accountin8 Slaiidai'ds (Uiiited Kingdoin Geiiei'ally Accepted Accountiiig Piacticc). nie laiv Rpplicabl¢ to cliayities iii Englaiid and Wfiles Irqiiiits Ilie cliarily Ii'ustees to pi'epar¢ fjiiancial staleinei)l$ for e&¢h finaiKTal y¢ar ivliich give a Ii'iie and fail. vieiv of the state of tl)e affaiis of thtt cliai'ily aiid of Ille iiicoilliiig and applicalion of resoiirce5, of Il?e charity for thlll period. Iii pi'¢paring tl)08e finai)cial slatelneiils tlie tr1151S required to.. H) selecl suilable accounliiig policies ai)d Ilieii api)ly Iliein coiisist¢i)tly' b) obsery¢ Ilie meil)ods aiid priiiciples iii the applicable Charities SORP. c) mAke jiidgejiieiits and estimates thal are reasonable And priidenl. d) slat¢ ivhether applicablc a¢¢oiii)ling slaJ)dards have beeii folloived, siibjecl to Éiny Inalerial d#pailur¢s that must be disc1¢ and ¢xplained in thB finan¢iJl Slalements. e) prepllir the finAiicial statements on til¢ going wi?e.1] basis Iinl¢s$ it 18 inappropriate to assume that tho cliarily ivill conliaue in op¢iation. The tnistees nr¢ irspoJsibl¢ for keeping proper 8¢¢0unling r¢rdS that disc105e ivitli rexsonablc aceuracy at any liine tl)6 fin8ncial position of the Cliai'ity aiid to enabl8 them to eiisiire IIut tlie finan¢i&l statemetlts comply with th¢ Charities Act 2011. tlie applicable Cliayilies (A¢counts and Reports) R¢giilalions. &i)d tlie provisions of th¢ TrLlSt Deed. Tli¢y are &lso responsible for safeguai'ding th¢ assets of Ilia charity and IAkiiig reosonBblc steps for the piEvention ¥And detection of fi'aud or otlier ii're8ulartli¢s. St#temtiit of DT8clfvsure lo Aiidltors So fftr as the triTSte¢s 8re alva. there is no relevant Ewdil iiifoi'ination of i4,hicli th¢ ¢liariVs aitditors are ui)aiYAI'e. Additionally the triislees have tak1 all tlie steps they oiiglit to liave tRkeii trustees in order to rnak¢ tli¢nis¢lves awaLe of aiiy relevant audit inft*mialion and lo esloblisli that the th8J'ity's auditors arg aware of Il)8t informolion. Approved by th¢ Iruslees on IS A and $i¢d on behalf of the Ii'u ¢$ ,t2024 C J Ptxtoii Tru5tet (4)
INDEPENDEN'J, AUDITORS, REPORT TO THE MEMBERS OV THEI SYDNEI Y & PHYI,I,IS GOLI)BEI RG MEtlffQRIAL CHARITABI.r. TRUST Opliiioll We have aiidited tlie finaiioiol st4t¢m¢nls of Tlit Sydnty and Phyllis Goldberg meorial Charitable Tiiist foi. the year ¢nded 5th April 2024 a5 sd oiil on page5 9 to 14. the finwicial reporting frameivork tliEkt lias b¢en aijplied iii their prepai?tion is applicable laiv and Uniled KingdoRll Ac¢oLlllting StAndards iiiclydii)g FRS 102 Th¢ Finynctal Reportiiig Stai)dard applicable iii the UK 0iid Repiibli¢ of Ir¢land' UJniled Kittgdoim Genei"alky A¢¢¢pl¢d A¢¢)ntIng Iiraclice)- Tlie finaiicial statsii)ents lillve been prep8r¢d in accoi'dan¢e iyiili Ac¢oui)tiiig ai)d Reportiiig by Cliarities preparing Ilieii. accounls iii accoi'dhnce ivith thc Financial Repoiting Standai'ds applic21 ble &1) 11)e UK and Repiiblic of li'vland (FRS102) in prefereiice to the Accoiiiitiiig aiid Repotliiig by Cliarities.. StRteJnei)t of Re¢ot)iiiiended Practice i5511ed oil l April 2005 ivliicl) is refei'ird io iii the ektant i'egiilaliol bllt hAs b¢¢ii IviilidrA%vi). Tl)i$ 118s been doi)e iii oid¢r foi. Ilie accoiiiits to provide a li'iie aiid fair vioiv in R¢cordf¢i)c¢ iviih tli¢ Gei)erJlly A¢c¢pl¢d A¢¢oiinting Pr8¢1ic¢ ¢ff¢ctiv¢ for reporting pei'iods beginning 01) oi. altsr l Janiiary 2015. This pOrt is niade sokly lo the Charity's Tiiistees. as P& bodyj in 8ccord4ncÈ iyiih P8¥14 of the Cli&rities {A¢¢oiii)ts and Reports) Regiilatioiis 2008. Oiir al11 iyork l)a5 b¢thi undertaken so iliat ive mtglil slate to tli¢ Cliaiity's Trusl¢es tliose niatlei's ive Are requiiEd to state lo tl)ein in An Audiloi s i'eporl aiid for iio otlier piirpose. To Ilie flillest cxtciit perinitted by lalv, Ive don not uccepl of assiime responsibility to anyone otlier than the Charity 8iid the Charity's Tnjstees as a bodyj for oiir aiidit work. for this repr>rt. or for the opiniotts Ive have formed. In vur opijiion the finaRci&l 8lat¢in¢iits', giv¢ a Iriio and faÈi' vioiv of Ilie stat¢ of tlie charity's afhii% as 815th April 2024 and of its iiicomtng re50ur¢¢s and appli¢atioii of r8sourcos. ftlr Ilie yeRI' Ilien ended. liav¢ betn pmpvrly prepad in a¢cordaiice iyiih Unit¢d Kii)gdom G¢ncrally A¢¢epled Accoiinting Pra¢li¢e: h8ve been prepared ftii accoi'daiice iyitl? the requiirments of the ChaTities Act 21111. BR8iS ofopinioii W¢ condii¢ted our aiidit in accordan¢¢ iviili liilern8tioiial Siandaiyls on Aiidiliiig {UK) (ISA$ (UK) and 4pplicabl¢ law. Our respon$ibiliti¢s iittder those stsndAids kre further des¢i'ib¢d in tli¢ Auditor'5 tesponsibililies for the aiidit or the finan¢i818taIeientS section of our IEport. We ¥¢re indep¢ndenl of the Charity in accoi'danc¢ ivith ¢thical IEqiiiIEm¢Ats t11 are itlevanl to oui. aiidil of the finallcial statements in the United Kingdoin, illcliiding tlie FinEkncial Reportirbg Coiirtcil's Eiliical Stand&i'd, nnd ive have fulfilled our oih¢r ¢lliical Itsponsibililies in accordance iyiili ilie5c reqiiiieinethls. We believ¢ tliat Ili¢ audit evidence Ive have obtain¢d is siiffi¢i¢nt and appropriRle lo provide e bRSiS for oiir opinion. (5)
INDEFENDLI Nl" AiIDITORS' REPORT TO THE MEMBERS OF TIIE SYDTrIEY & PHVLLIS GOLDJIERC MKMORIAL CFIAItITAIILE TRIJST (CONTINUED) C.ou¢lN$ioii$ Yelnling to going collcer In auditrng the fIiiancial statements, Ivc li&ve concliided th¥tt th¢ IrLi$l¢es' Ii$e of thc going Concei basis of ftCCDITiiling in tlie pi'epailllion of tli¢ finaiiLial stAt¢ineiils i& Appropi'iRl¢. Based oil ihe ivoi'k ive have perFoniied, w¢ have not identified any inaterial iineertainlies relating to ovents oi. conditiS Iliat, indiyidiially 01- collEctivelyy may c&st significai)I doubt oil the charity's ability lo ¢ontiniio as 17 goiiig concern for a pei'iod of at Icasl livelve moiiih5 froin ivlien the fiiiancial stateinents are #iiihori5e(I for iSSLIf. Oiir i'espoiisibilit£es and tl?e re5ponsibililies of ihe trustees iyith r¢sp¢ct to going ¢oiic¢i'ii aiE described iii th¢ i'¢l¢vwit soclioiis of this I'epoj'l, Iii our ev&luatioii of Ili¢ Irustres, ¢oii¢liisions, Ive Gonsid¢Jvil th¢ J'isks associaled Ivilh tlie cliarity's biisin iliodel, in¢ludiiig ilie effe¢ls arisiiig froni inttcro-cconointe uncerlaiiilies siich as COVID-19 aiid ai)alysed Iioiy iliosc 1-15ks mtglit atlecl (lie cliai'itys fiiiaiicial resoiirces or Abilily lo ¢oiiliiiiie OPertiO[l5 oycr tlie peiiod of livelve iiioiitlis froin tlie dale iylien tlie fiiianci81 slalei)i¢iils are aviliorised for is511¢. Iii accordai)¢¢ iviih the above. iY¢ Iiave iiotl)iiig to report iii tl)e4e Yesi)ects. Iloivcvttr, as iv¢ caniiot predict all fiilure ¢v¢nts or ¢onditioiis and as siibs¢oiieiil events m2y result in oiit¢oni¢s iliat #re in¢onsislent iviih jiidg¢menls thal iyere rca8oiIHbl¢ at tlie iii)ie Iliey Iveie i1)ade. Ihe abseii¢e of iefeiince lo a Inate&u81 uiicertaiiity in Iliis aiiditor'5 r¢port 15 not a giiiraiitee that Il)e charity iyill continue in opeJ?lion. Other inloi'iiiatioji The Tr115tees ar¢ r¢sponsibl¢ for Ili¢ oth¢r iiifonTJalioii. The tsih¢r inforjnalioii coiiiprises tlle infonnalioi) iNcluded iii the Aiinual Report. oth¢r than tlie financial stat¢iii¢Jils and our Auditor's Repoil thei¢on. (hii. opinion on the finaiicial ststemenls does ii¢)t cov¢r Ilie iiifo¥mation cind. except lo Ihe ¢xlent oilieiivise ¢xplicitly sl&led tll our repoit, lye do not express any foJ7n ofassurance concliision th¢lin. In coiillectioii iyiih oui. audit of the filial1] slatemenls, o¢ir i¢SPDnsibility is to read the oilier information and. in doing so, considei. Ivhttl)er the other infoK]J)alion 1$ mute&'ially inco1iStenI with the fii)an¢ial slalem¢nts or oiit knoiyledge obtaiiied iii the aiidit or otlierwise appeal's to b¢ Inat¢riall} misstated. If ive id¢iitify suclE inatei'ial ii)consislencies oi- apparent Inaterial n)isstalements. i¥¢ are reqiiired to de11n[e Ivheilier th¢r¢ is R material misstatemcnl in Ilic financial stntetnenls or a material misslatemcnt of Ili¢ oth¢r information. If. bosed oil Ilie ivoi'k ive have perfoimed. Ive concluded ilixl tliere t5 a material misstel¢ine13t of this other inform8tioii, IV¢ gre I'equired lo report Ih8t fact. We have nthhing to Teport irt Iliis regard. Capability of the aiidit to detect itregiilarities iiicluding fi'aud. W¢ Ined an vndeistaiidii)g of the legal and regiilaioiy frameivork Applieable to Ihc cliarity aiid the indiistry iii whi¢li il 0rAt¢s, and consid¢r¢d tli¢ risk of a¢ls by the charity ivhicli Ivere contrary to applicable la¥vs and regulations, iii¢ludii)g fraiid. These in¢lLided, bul ivere not liilliled to, ¢ollipliaii¢e iyilh tlie Charities Act 2011 and FRSIO2. (6)
INDEPENDENT AUDITORS, IIEPORI. TO THI MEMJIII RS OF
THF SYDF4LY & PHYLLIS C.OJ.DBERG MEMOIUAI, CHARITABLE TRUST
(CONTINUED)
Other inforJnAlion {Coiitiuued)
W¢ designed aiidit procedui'es lo respond to the risk, i'ecognising that the risk of iiol deteoting 2 Inaleii&l
Intssl4temeiil diio lo fr811d is Iii¥her than the risk OF not delectii)g one r¢5ulling fi'olll ¢tror. as fi?ud may
involv¢ delibth'ate coii¢¢8lment.
W¢ focused oil laws ffnd r¢8iilatAOllS tlvst could giv¢ ris¢ lo a m#t¢i"ial Inisslat¢m¢nt ii) th¢ financi81
slttlem¢iits. Olli. tests iiicliided, bÈit iyei'e not liiniled to:
•gi'eein¢nt of lh¢ fiiiaii¢ial slai¢ineiit dis¢losiii%s 10 1511d¢rlyiiig 8111)porliiig
INDEPEI NDENT AUDITORSI RLI POIIT TO TIIE AIJEMBERS OF I'HE SYDNF,Y & PHYLI,IS COLDBERG MEMORIAL CHARITABLEI TRUST (CONTINUED) Auditor's respoiisibilitics for the audit of the finaJici&l statements We have been appoiiiled as aliditors iiiid¢i' $¢¢lioi) 145 of Ili¢ Chfiriti¢s Act ai)d i'¢poi'l iii accordance iyith the A¢1 and rel¢vanl regulations inade oi. liaying effect th¢i'eundei-. Our objectives are to obtain Ira$on&bJe assurance abolit wlieiliei. the firtan¢ial stat¢ineiits as a ivhol¢ ar¢ free fiom maieri&l Inisstaleincnl, Ivh¢tker dv¢ to fiaud or ¢ri'or. 4Md to issue an Auditoi s rcporl that include5 our opii)ion. Rcasunable assLlI"anc¢ 15 0 htuli level assuraiice bul is llot a guftrahlee Il)ot audit eonductLd in accordaiicc iviih ISAS (UK) iyill alivays delect a nial¢rial iuisstat¢m¢iit wli¢ii il exists. MisstAlemeiiis ¢Rn aris¢ from fraiid or c¥mr ffiid Al considcred matcriAI if. iiidividiially oi. in th¢ A88lt8Ate, tliey coiild reasonably bc expected to influence the ccoMorniG dlSiOn ol users taken on Ihc basis of Ihc5e fiMan¢ial 5tAteinents. A fiiithei. descriplion of our I'espDIL%ibililies for ili¢ aiidil of th¢ fiii&ncial stateinents is k)cuted in tlie Financial Repoiling Council's website at.. www.frc.or .uk/auditorsre5 onsibilili¢5. Th¢ d¢5¢1'iplion form5 p&t of our Aiidilor's R¢port. Use Df our Repoi't This repoi1 is lll8dc solely to Ihc chai'itys TrIte¢S. as R body, ii) accordance willi P&rl 4 of tli¢ Cliarilies (A¢¢oiii3ts aiid Reports) Regulatioiis 2008. Oiir audit ivork lias beeii iii)dei'tak¢ii so Iliat we inight slAte to tli¢ cliaKity's Trnsle¢5 those Jn8ttErs we are reqiiiird to stile to Illel in an auditors, I'epoil aiid for iio oih¢i' p¥ipose. 'Fo thc fulla$t ¢xt¢Jit pci'initted by Ihiy. we do not Rceept or assuine Irspollsibility to unyone other tliaii th¢ ehai'ity and its Tnistees, as a body, foi. our aiidir ivork, for thi8 r¢poil, oi. for the opinioiis ive liave fotEn¢d. 40 Graccchurch Street Londoi) F.C3V OBT RPG CROIJCH C.HAPMAN LLP Chai'lered ACCOnt?lS Staliitory Auditors "5 110 2024 RPG Cn)ucli Chapman LLP is eligible to act as audiloi. in terms of sli0n 1212 of the Companies Act {8)
TIIE SYDNEY & PHYLLIS GOLDBERG MEfvIORIAL CHARITAIILL TRUST srATEMENT OF FINANCIAL AC'I'IVITIES FOR TIEE YEAR ENDEI) S APRII. 2024 Note 2024 2023 In¢rpm¢ Donatinn Envo5tmenl lJicomÈ 500 Divideiids and tnterest fro1 Qiioted Inveslmenls Interest on Dcposils 123.877 5,416 120,356 1,691 Totsl Tncome 129,293 122,547 Expendlturt Costs of Generating Funds Inveslnieiit Managemenl Costs Cliarilable Artivilies: Granls Paid Manag¢inent and Adn)inislr4tAon 600 6LIO 115,000 11,107 115,000 11,042 Tot41 Expendiliii'e 126,707 126.642 Net Inconiel (Expendituiy) 2.586 {4,095) Other Reco8ni8e<l Gains and L4J58es Goinl(Deficit) on Inveslineiil As$ets 237.231 (211,491) Net MoYtm¢nt In Funds 239,817 (215.586) Re¢on¢illalion of Funds Total Fiinds BIDught I,'orwai Total Funds Carrled Forwavd 4,713.069 4,928,655 £4.952,886 L4,713.069 All fiinds r¢present unrestricted iiicoine tunds. (9)
TIIE SYDNEY & PHYLLIS GOLI)BERG MELYAORIAL CHARITABLE TRUST BALANCE SHEET AS AT S APRIL 2024 2024 2023 Note Fixed Assets Yestments 4.879.541 4.536,06 Crn1 A55etS Short Tertii Deposits Casli ar Baiik 73,140 205 174,695 2,313 Net Currenl Assets 73.345 177.008 N¢t Asscts £ 4.952,880 £ 4,713,069 Funds of the Cbarity Unrestricted Ii)come Trunds £ 4.952,886 £ 4.713.069 Thuè *eeouiits were llpproverf by th¢ Trustees on Is 2024 8Rgiied 0 their behAlf by: C J Fexton . Tiwstee (io)
THf SYDNEY & PHYLLIS GOLDiIERG MJ£MORIAL CHAlU'fABLE'I'RUST NOTEI S FORMING PART OF THF filNANCIAL SYATEMENTS FOR THCI YEAR LIYDLD 5 AVRIL 2024 Accountimg Policie5 (a) Tlie accoiinls Iiaiie been prepared under tlie Iiistoricnl cost conveiitioii as modified to inclitd¢ inv¢$liii¢nEs al Y&luRlion. The ¢l¢CQllI)Is liav¢ be¢n pr¢pai'ed in a¢cordance lviih ¢he s¢¢oiid editioii of Ilje Cl)ai'ilies Stateiiient of Rocommeaded Practice Issued iii October 2019, tli¢ Fiii&ii¢i#l RePlIng Siaiidai'd applicable ii) the United Kiiigdom al R¢pLiblic of Ii'elaiid (FRS 102) and Ilie Charities Act 2011. (b) (c) Th¢ charity in¢c15 111¢ d¥fJDition 014 piiblic b¢Jt¢fit ¢nlily iiiider FRS 102. Tlie Ii'LlStees coiisidcr tht there are materithl uiicertaiiilies nbout tlie ch&rity's abilily to conliiiiie gs a goiiig Loncei'i). iwJii¢ (IDII? IllV¢Stineii15 IEiJreseMts divid¢nds. cloitalitsns iiiid¢i' 8ift aid proipi5ioiis aiid ii)lei'esl I'eceiv&bl¢ iti tlia year. Expeiises &r8 accouiited for wlieii paid and include Yalue added tgx. rixed ass¢t inv¢slmertts are n forti) OF finaiici81 insli'uin¢nt and are ii)¢liided in the Balance Slicel al fair i'alue. Realised and unrealised gains are incliide(l in the Sialeii)eiit of Financiul Acliviii¢$. Apari iiive5tineiits, tlie cliai'ity oijly lias finaiicial assets and of a kiiid Iliai qtsilify ns basic fiiiancial insti'iiiiients. Basi¢ finaiicial i11strii1eI)1s are initlAII)' IEcogiiised al li'ansaclion value ftnd subsequently Ineasuird at their settlenieiit Yaliie. Th¢ fiiian¢ial slalein¢tils do iiol incliide a ¢ashfloiv sl8tein¢nl b¢¢aiis¢ lh¢ ¢l)ai'ily. as sIall reporting enlily. is ¢x¢inpl from ilic requiitincjil to prcpore siKli a slalpAneiil iiii(lei' Fi118n¢ial Reporiiiig Siandard 102 Sectioii 7 'Slat¢inent of C&$li Floiys" T1 fiiiancial slatenieiits liave beeii pr¢pai¢d in Sterl&ng alld all aiT)oiiuls have be¢n rouiided to the neare&t pound. Ci-ilie81 a¢rountiug estiniatw aiid nreps oljudgment stiinales &nd jiidgments are continiially evaliialed and are based on liistoi'ical ffxperience aiid other factors, incliiding expectations of fiitiire events 11191 are believed to be refjsonable under Ihe ¢ffjr¢iimstnn¢¢s. (d) (e) (f) IB) (h) Critical accountiiig estimates aiid assiimplions.. The ch&rity An&k¢$ ¢$limutes al a5S1111]ptiol eonc¢rniiig the fvture. The Y¢sulling a¢counting tstimat¢s aiid #ssumptioiis i¥ill. by definitioji, seldoin eqiial the i'elated actiial resiilts. Hthvever, ilie tr£Tslees are of the opiiiion Ihal Ille ar¢ no ¢slimat¢$ and 8ssumpliun5 Ihal liavc n SiBnificftiit risk of cniising a Mat.1&1 odju51meiil to Ike carrying anioiinls of assets ond liabilities ivithiii thc next financial year. Origin and Source Under the t¢rins ofiier Will, Phyllis Goldberg beqllehilied to th¢ li'LisÉ Il)¢ ivhole of lier sliareliolding in Syonth IDvc4lm¢ftts Liinit¢d - 73.710 ordinary sliar¢s being 820/0 of tli¢ tolal issu¢d ¢apilal. Diiriiig Ilie eai'ly part of 1992 Syona ItLveslments Limileil pyrcliHsed tliv balaiice of sliare5 in iSSLie ivilli the result Iliat the Trust then oiviied all the shaTe$ in the coinpany. On 24 Octob. 2008, Syolla Inv¢stmcnts Limit¢d was pla¢¢d in M¢mbe¢s Voluntary Liqiiidation and the net realised 8ssets werc pas%ed t() Ilie Trust. (11)
TIIE SYDNEY & I)HYI.LIS COLDBFRC. MF,MORtAI. CHARITABLF TRUST NOTES FoRMG PART OF THE FINANCIAL sfATEMENTS FOR TIIE YII ARENDED 5 APRII, 2024 {coWruL1 D) 3 01.igin xntl Soui'ee (Conlinued) In &dditioii lo the beqii¥sl of sliares iii Syoita Iiiveslmemts Limited, Pliyllts Goldbei'g b¢qiieaili¢d Ii¢r rosidiiaiy eslnt¢ lo tli¢ Triisl siibjecl to a life leiiL4ttCy. Tlie life tenant died in Mairl) 1992 81)d subseqiienily all Ilie J'esiduaiy eslllte I$ becii transferi'ed lo tlie Tnist. 4 CbAI'ituble A¢llYilie8 GrnntsPAid Tlie Britisll Siainnierin¥ AssociI)lioii 70 fiiiid reseairh iiito slaiijnieyiiig aiid to give liclp find ¢ncoiingement to stRinin¢i'ers- Sydne)i Goldberg ivas a stammerer. Cliildren iyiili Spcoial Needs Fuiindalioii- To 811ppori cliildreii iviili speclal iieeds Irgiding iii 8uriYy Healli aiid tlie iinmediately siirroiiiiding ars. Fight Bladdei. C¥Acei'.To fiiiid tese&Kch iiito Bladd¢i' Cancer Aftd io pi'ovRde patieiit- ¢¢nlred supporl aiid c&re. Life Ceiitre- To pi'ovid¢ siippoil lo iiieii, iyomcii wid cliildreii ivlio have beej) I'&ped oi. sexually abiised. Child Brniii Injiiry Tiusl- To provid¢ suppoil piDjecls foi. childyen, youn8 peopl¢ and their faiiiilies froin th¢ ons¢l of ehildliood Q¢qLiiird brain injLIry. 2024 2023 15,000 15,000 15,000 15.000 2,000 2.000 15.000 I s,000 5.OOQ Lisa May Fouiid8tioii- For distributloi) to local cliarities tl)&t Iwv¢ a medical disabilityliY¢lfore component. Maiiliews Friends - To increase the aivaTenes5 of the effects of epilepsy iii children aiid to piY>vid¢ support and educate aiid advise on the iv¢lf81'e ofthe child. The In0dIble Design Compaiiy) form¢i-ly Chail¢y &l¢rilag¢ F.nterpi'ise Centre- To suppoit traiiiiilg and ivork expcrienre for disablcd adiilts Alzheiiiiefs R¢seairh UK- To fiind reseRr¢li Éilto demcÈitia 10.000 10.000 15,000 15.000 4.000 3.000 5,000 5,¢)00 5,000 BRACE-TO fLind clinical & laboraloi'y demenlia Yesearch projecls Nepal Earthquak¢ Appeal- 1.0 ¢onlribute Iowords r¢bvilding s¢hool$, ¢onsli'u¢ting shelter hojnes etc in riiral ur¢as 10.000 10,000 Datiiin foundation- To assist in vayioiTS medi¢8k and scliooS classrooin building projects in MalaivA. 3.000 3.000 Frid$ of Children in Romthnia- To provide fufftids to 8iFppoiI a children's oipliniiagc in lioinania. 5.000 5.000 Th¢ DystOl)IA Soci¢ty- To fiiiid research into Dyslonia and lielp suffereTS from tliis Iiciirologi¢'al disease. 'rii¢ Sick Cl)ildr¢ii's Triisl (Stev¢nson Floiis6)- To Aid the r¢¢ov¢ry of $erioiisly ill ¢hildr¢n iii hospi181 by providiiig free closts-by a¢coimmodation for families. 8,000 8,000 3,000 115.000 4,000 115.000 (12)
TIIL SYDNEY & PHYLLIS GOI.DBF.RCv TrIFlWtORIAL CHARrrABLE TRUST NOTF,S VOIIMiNC PART OF THE TrINANCIAL STATEI MENTS FOR THE Y1 AR ENDED 5 APRIL 2024 (coririNUED) 5 GovevnRn£e Costs M*iiagemtnt 911d Adniinislrailoii 2024 202J Aiidil fee (incliidiag VAD Adinknislrfttioii and AeeoLlI)tiiig (iiicluding VAT) 1.800 9.307 11.107 .704 9.338 11,042 6 Fill&nciHI Jiisli'uments 2024 2023 FinRnciRI assets in¢o$urcd at fair ihroiigl) StAtemeJit of Financial Activities 4.879,541 4.536.061 Fiiiftncial assets m¢asiii'ed at Fair value IliiM)ugl) Ilie SialeineAit of Fiiiaiicial A¢tiviti¢s ¢oniprise inveslineiils. 7 1iiveslmen18 2024 2023 Market valiie at 6 Apr&l 2023 A¢qvisilions at cost Disposc11s at market valiie Nel gainl(deficÈt) Market Vxlue as at 5 Api'il 2024 4.536.061 213.653 (107,404) 237,231 4,879,541 4.675.889 99,029 (27.366) (211,491) 4,536,061 Dvestments At MA Yket Value Comprise Quoted 2024 2023 UK Fixed Interest Seciirili¢$ UK Iqiiilies and Fiiiids Ovcrseas Equitie5 428.143 3.663.144 788,254 4,879.541 358.506 3.591,912 585,643 4.536,061 The trustees consider tlie only Inalcrial iiiveslment holdings &1 Ilie y¢#rend were in Alliance Triisl Plc, £257,480. beiiig 5.30/0 aiid in Aslrttzeneca Pl4 £254,880. beÉng 5.2D/• of the portfolio by valii Quoted iiiveslments are registered in the name of auilioi'i8Ed nornin¢e coinpany> J M Fintt & Co. Ivho are only Aiithorised lo a¢1 oji in51ruclioii$ froin the trustees. The norniii¢¢ ¢oinpany piY)vides a c¢rtift¢at¢ in rdation to 11)e iThvestincnls li¢ld by tliem on beholf orth¢ Trlist. (13)
THF SYDNEY & PHYI,I.IS GOLDBERG MCMORIAI, CHARITABLE TRUSI, NOT£S FORMING PART OF TTrIF. FINANCIAI, STATEMkNTS FOR THE YEAIi LNDED S Arll 2024 {CONT1Tr4UED) 8 Ti'aii$n¢iloiis wi¢li Ti'uslees aiid C'oiiiieete(I PeoS Tl)e Iriislees received no einolEiineMls or ieiittbiiis¢inenls of ekPehSeS in thc ye¢ll'. Tl)e folloiving infoiinutioi? is given ¢onceriiiiig other fee% veceived by Ilie Ii'ustees:_ Mr C J P¢xtoii is a partner iii Begbies Cliarler¢d Accounlaihls aiid Mr M J Lliii¥cli is a coiisuliaiit. BEBbiK Chartered AccoLltI(811ts pIDvid¢ ininageni¢nt and uccoiinlillg sci'viccs to ilie Tr'iisl. Diirillg the yeur, B¢gbies i'¢c¢iv¢d f¢¢s of £7,700 plus VAT (total £9,240) for providing maiJa8ement and accoiiiiliiig services to the Tnisl. Diiring the ye81. a grant of £15,000 Ivas paid to Life Ceiitr4 a regisl¢r¢d charity. Mrs C Pexton, wif¢ of C J Pextoi) (I'ruslee of tlie Sydney & Pliyllis Goldberg Meniorlal Chllritable Triist) is a ti'ustee ot Lite Ccnlr4 alihoiigli not involved ill tl)e lldmiiitslrntion of il)e cliarity. (14)