Docusign En¥ÈlopÈ ID". 56061372-E53&4099-814(k9A98E85AEF64 THE STEVEN & JOAN FOGEL CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
Docusign En¥ÈlopÈ ID". 56061372-E53&4099-814(k9A98E85AEF64 THE STEVEN & JOAN FOGEL CHARITABLE TRUST CONTENTS Page Legal and administrative details Report of the trustees Report of the independent examiner Accounts comprising.. Statement of financial activities Balance sheet Notes to the accounts
Docusign En¥ÈlopÈ ID". 56061372-E53&4099-814(k9A98E85AEF64 THE STEVEN & JOAN FOGEL CHARITABLE TRUST LEGAL AND ADMINISTRATIVE DETAILS Date of the Trust 19 February 1988 Charlty reglstratlon number 327733 Tru$tee$ Steven Anthony Fogel Joan Selma Fogel Geoffrey Michael Walters Bankers HSBC Bank plc 50 -52 Kilburn High Road Kilburn London NW6 4HJ Accountants Menzies LLP Lynton House 7 - 12 Tavistock Square London WCIH 9LT Independent examiner David Truman Lynton House 7 - 12 Tavistock Square London WCIH 9LT Investment managers LGT Wealth Management UK LLP 14 Cornhill London EC3V 3NR
Docusign En¥ÈlopÈ ID". 56061372-E53&4099-814(k9A98E85AEF64 THE STEVEN & JOAN FOGEL CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2023 The Trustees present their report together with the accounts of the Trust for the year ended 5 April 2023. STRUCTURE, GOVERNANCE AND MANAGEMENT The Trust was created by a deed dated 19 February 1988 as a Trust exclusively for charitable purposes. The Trust was registered with the Charity Commissioners on 21 March 1988, charity registration nLJmber 327733. The power to appoint trustees vests in the Settlor, Mr S A Fogel. OBJECTIVES AND ACTIVITIES The object of the Trust is the application of the Trust's income and capital for charitable purposes at the absolute discretion of the Trustees. The Trustees have unrestricted powers of investments. ACHIEVEMENTS AND PERFORMANCE The Trustees made 38 grants totalling £17,932 12022 30 totalling £12,749) to charitable organisations supporting a range of activities. When setting the objectives and deciding on grant making activities of the Trust, the Trustees have given consideration to the Charity Cotnmission's general guidance on public benefit. FUTURE DEVELOPMENTS The Trust will continue to make a wide spread of donations, and consider the reserves for future grant-giving to be satisfactory. TRUSTEES The Trustees in Ofiice at the end of the year are as follows.. Steven Anthony Fogel Joan Selma Fogel Geoffrey Michael Walters No Trustee received any remuneration during the year12022 - £Nil) and none of the Trustees were reimbursed any expenses incurred in the performance of their duties {2022 £Nil}. No Trustee had any interest in any contract with the Trust during the year. RISK POLICY The trustees minimise investment risk through the use of professional investment advisers and the maintenance of a diverse portfolio. General operating risk is minimised through the regular review proeedures by the Trustees of the Trust's activities.
Docusign En¥ÈlopÈ ID". 56061372-E53&4099-814(k9A98E85AEF64 THE STEVEN & JOAN FOGEL CHARITABLE TRUST TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2023 TRUSTEES. RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The charity's trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England Wales requires the charity's trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistentlyi observe the methods and principles in the applicable Charities SORP- make judgements and estimates that are reasonable and prudent,. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. For and on behalf of the Trustees: steven Anthony Fogel 20-Jun-2024 Approved on
Docusign En¥ÈlopÈ ID". 56061372-E53&4099-814(k9A98E85AEF64 THE STEVEN & JOAN FOGEL CHARITABLE TRUST REPORT OF THE INDEPENDENT EXAMINER FOR THE YEAR ENDED 5 APRIL 2023 I report on the accounts of the trust for the year ended 5 April 2023, which are set out on pages 5 to 9. Respective responsibilities of Trustees and Examiner The charity's trustees are responsible for the preparation of the accounts in accordance with the Charities Art 2011l.the Act.). The charity's trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed. It is my responsibility to: examine the accounts under sertion 145 of the Charities Act. to follow the applicable Directions given by the Charity Commission (under section 145(5}(b} of the Act); and to state whether particular matters have come to my attention. Basis of independent examiner's report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited to those matters set out in the statement below. Independent examiner's statement In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act; or the accounts did not accord with the accounting records,. or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connertion 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. Do¢uSnby'. SBEcBBEC1B492 David Truman Lynton House 7 - 12 Tavistock Square London WCIH 9LT 20-Jun-2024 Date
Docusign En¥ÈlopÈ ID". 56061372-E53&4099-814(k9A98E85AEF64 THE STEVEN & JOAN FOGEL CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023 Unrestricted funds 2023 2022 Notes INCOME Donation received Income from investments Interest receivable Gift Aid Sundry income 300,000 7,614 17 1,270 5,112 20 Total income 308,901 5,133 EXPENDITURE ON: Cost of raising funds Investment management costs Charitable activities: Grants paid other costs 1,662 1,276 17,932 780 12,749 675 Total expenditure 20,374 14,700 Net movernent in funds before gain5 and 1055e5 on investments 288,527 19,567) Net Ilossesl / gains on investments 18,5061 15,056 Net movement in funds 280,021 5,489 Total fund balance as at 6 April 2022 204,526 199,037 Total fund balan as at 5 Aprll 2023 484,547 204,526
Docusign En¥ÈlopÈ ID". 56061372-E53&4099-814(k9A98E85AEF64 THE STEVEN & JOAN FOGEL CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2023 Notes 2023 2022 FIXED ASSETS Investments at market value 477,854 199,514 CURRENT ASSErs Cash with broker Cash with HSBC Bank 4,212 3,201 1,670 4,002 7,413 5,672 CURRENT LIABILITIES Accountancy fees (720) 1660) NET CURRENT ASSETS 6,693 5,012 TOTAL NET ASSETS 484,547 204,526 Represented by: UNRESTRICTED FUNDS 484,547 204,526 20-Jun-2024 Approved by and signed on behalf of the Trustees on steven Anthony Fogel Trustee
Docusign En¥ÈlopÈ ID". 56061372-E53&4099-814(k9A98E85AEF64 THE STEVEN & JOAN FOGEL CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023 I. ACCOUNTING POLICIES a) Basis of preparation and assessment of going concern The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice- Accounting and Reporting by Charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FR51021 issued on 16 July 2014 and the Financial Reporting standard applicable in the United Kingdom and Republic of Ireland IFR5102) and the Charities Act 2011. The trust constitutes a public benefit entity as defined by FRSIO2. The trustees consider that there are no material uncertainties about the trust's ability to continue as a going concern. b) Interest recelvable and Investment Income Interest receivable is credited to the statement of financial activities when it is received. Dividends and interest from investments, including associated transitional relief, are credited to the statement of financial activities when they are received. c) Expenditure (i) Grants payable Grants payable are debited to the statement of financial attivities when they are paid. lill Management and administration The expenditure comprises general administration, management and costs in connection with constitutional and statutory requirements. d) Investrnents Investments are included in the accounts at market value at the end of the financial year. Realised and unrealised gains and losses are credited or debited to the statement of financial activities in the year in which they arise. e) Foreign currency translation Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated Into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken Into account when arriving at the net movement in funds.
Docusign En¥ÈlopÈ ID". 56061372-E53&4099-814(k9A98E85AEF64 THE STEVEN & JOAN FOGEL CHARITABLE TRUST NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 5 APRIL 2023 Unrestricted funds 2023 2022 2. INCOME FROM EQUITIES UK equities 7,614 5,112 3. GRANTS PAID Grants made to institutions of £1,000 and over were as follows: Amount of grant Recipient- UK Grants New North London Hofesh Schechter HP Foundation Chai Cancer Care NNLS Wodd Jewish Relief Ukraine New Israel Fund Wodd Land Trust 1,138 1,500 1,000 1,200 2,500 1,000 2,000 1,000 11,338 Add: Small grants below £1,000 6,594 17,932 Unrestricted funds 2023 2022 4. OTHER COSTS Accountancy fees Bank charges 720 60 660 15 780 675 5. TRUSTEES. REMUNERATION No trustee received any remuneration in respect of services provided during the year {2022'. £nil). No trustee was reimbursed for any expenditure incurred during the course of his/her duties during the year12022- £nil). 6. TAXATION The Steven and Joan Fogel Charitable Trust is a registered charity and is therefore not liable to income tax or corporation tax on the income derived from its charitable activities, as it falls within the various exetnptions available to registered charities.
Docusign En¥ÈlopÈ ID". 56061372-E53&4099-814(k9A98E85AEF64 THE STEVEN & JOAN FOGEL CHARITABLE TRUST NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 5 APRIL 2023 2023 2022 7. INVESTMENTS Market value at the beginning of the year Additions in the year Equalisations Disposal proceeds 199,514 292,500 {4) 15,650) 195,758 700 (12,0001 486,360 184,458 (Losses) / gains on disposals in the year (Losses) / gains on revaluations at the end of the year 1363) 206 {8, 143} 14,850 18,506) 15,056 Market value at the end of the year 477,854 199,514 Historical cost 446,098 157,558 All of the above investments are listed on a recognised stock exchange and are allocated as follows.. Held within the United Kingdom UK equities Overseas equities (Jersey) 7,293 470,561 9,145 148,413 477,854 157,558 The following investments represent more than 50/0 of the portfolio at market value.. 693,326.777 units in Abdrn Offshore Inc Fund Z Inc 470,561