2021-04-05-accounts

Chayity number. IIM8209 THE RITA AND DAVID SLOWE CHARITABLE TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021

THE RITA AND DAVID SLOWE CHARITABLE TRUST CONTEKrs Page Reference and administrativg detalh of the Charity. It8 Trust••s and advl$¢rs Trusts•s' r•port Indopènd•nt examlnoes report Statsment of financial activitl•s Balince sheet Notss to the flnanclal Btatomen 7-Ib

THE RITA AND DAVID SLOWE CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED S APRIL 2021 Tru•t Rrthrt L EIE8belh H Sl¢ywe Jonathan L Slowe Graham Wein￿rg Lillian Skmg Charlty rogistered numbèr Prjnelpal offie• 32 Hampstead HKJh Street London NW3 1JQ Ind•p•ndtnt Examlner Yogan Pald FCA MHA Maclnlyre Hud50n Chartered Attountants 2 London Wall Plac4 London EC2Y SAU BankerB Barclays Bank Pk 50 Pall Mall London SW1Y SAX Page 1

THE RrrA AND DAVID SLOWE CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2021 Thp. Tni.qtpp.q prgsent th@ir annual rgw)rt together with the financial statemènts of th• Charity for tha year 6 April 2020 to S April 2021. The Trustees have adcyted the proviwons of the Statement of Recommènded Practice ISORPI 'Accounting and Reporting by Charibe5' (FRS 1021 in preparing the annual report and financial stements of the Charity. ObJectSves and •etlvrti¢¥ . Goveman¢e and •pptslntment of Trustees The Charity was estsblished by Trust tked dated 12 Juty 1995 and the Charity Commisslon reoislralion number is 1048209. In his lifetime, Mr R L Sl¢)we (the Founder Trusleel may apwinl new Trusts88. After hi8 death, the remaining Trustees may aFpoinl ne•V Trustees (the total number musl be al least three). Nèw Trustees would be inducted and trained by attendance at appropriate training courses. In wew of the Charity's holdinq of ordinary shares in J Leon & Co Ltd by deed of variab.on dated November 2017. whenever the number of Trustees who are a linaal dgs¢¢ndenl of the Founderfs parents Rita and David gowè 1$ r•du¢ed lo ￿55 than ￿0. an appoinlmont shall be rnade as soon as praCt￿ble ) order to increase the number of such Trustees lo al least ￿0. b. OblKt8 and purpw• The Charity ho$ b¢¢n estsbli$h¢d undèr its Tru8t Deed for 8Lth Charitab￿ purpos•s as the Trustee5 from Ilme to tim think fiL . Publlc B•n•flt In Setting objectives and planning for ¢urrenl and future activities, the Trustees have given due consideration lo general guidance published by the Charity Commission relating to public benefit. including the guklan 'Public benefit". running 8 charity IP821'. AJI activities have been undertaken to further tho Charity's purpcsse for the public b8nefrt. A¢hlovoments and perf0m￿nCe •. Adivltl•g and ach•Sv•m•nt• Activitses in the year comprtsed the rfistribution of £140,000 12020.. È140,0001 to charities. The Charity is a grant making chanty and $0 rjjes nol work direcuy wrth vulnerabl¢ groups, but may fvnd other organisatKsns that do. Flnanelal revlew a. Golng eofie•m After making appropriate enquirie5. the TTUStee5 have a reasonable expectation that th? Charity has adequate resource5 to continue in operatKJnal existence for the foreseeable fvlure. For this reason, they o)nlinue to adopt the going con(m basis in preparing the ffinan￿al statements. Further delails r8gardin9 thg adoption of the 90ing concern basis can be found in the accounb'ng poliues. Page 2

THE RITA AND DAVID SLOWE CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 5 APRIL 2021 b. Financial rèvi•w The Trustees gener81ty distribute inc47me derived frryn Inveskn￿ts and private donations from thè Founder. In accordance with Clause 5111 of the Setttemenl Deed, the Trustees had pcmer to a￿uMulate realised income as an a(Lretion to capital for fvlenty ¢)ne years to 12 July 2016. Available income for tho ygar was £71.367 {2020'. £79.7981 and £140,00012020'. £140,000> was distributed to charities. c. Risk manag•m•nt and r•s•rves policy The Trustees have assessed the risks to which the Trust is eyised, in parlicular thosg relating lo investment incorne, and a￿ sab'sfied that Controls are in place to miligale such risks. The poliGy of the Tnjstees is to retain ythenl funds to meet all future thmmTtrnents. Al th• year-end, the Charity held unrestricled funds of £2.077.938 {2020.' £1,873,158) and endowment funds of £4S6,814 12020.. £430,164>. The kvel of res8tves are ¢onsthred satisfactory for the objectives ol Ihe Charitablè Tru81. stst•m•nt of Tru8tW8' rnspon$lbllltl The Trust•g$ are reswnslble for preparing the TNstees' report atKI the fin8n¢i81 stslements in aC￿rdanCe with applicable law and Unit•d FQngdom A¢¢ounting Stsndards (United Kingdom G•n8ralty A¢¢epltrd Accountsng Practice). Tho W aKlic)le lo charrt￿ In England & Wales requir8s the Trustee$ lo prtrpare financial statements for each financial ygar vthich give a true and fair view of the stale of affairs of the Charity and of ils incoming resource5 and application of resourc¢$. in¢luding ils inrAme and expenditure, for that perK)d. In preparing these financial slatemenls, the Trustees are r•quired to.. elect suitable accounting poli￿c3 and then appty th?m Gon>i>tenty'. ct*seNg the mothod$ and principles of the ch8rib.es SORP IFRS 1021., mak$ judgments and accounting ests"mates that are reasonab￿ and prudent., Stale whether applicablg UK Accounb"ng Stsndards IFRS 1021 have been folk)wed, subject to any material departures disdosed and explained in the ffinancFal statements., prepare the financial statemènts on the g)ing LY)ncem basis unless it is inappropriate to pres(tme that the Charity will conbnue in Opera￿n. The Trustees ara responsible for keepirvJ adequate accounting records that are sufficient lo shLM and explain thè Charity's tranSact￿n$ and disdose wth reasonable accuracy at any timè the financial tosibon of tha Charity and enable them to efisU￿ that the financial ststements ¢ompty with the Charits'es Act 2011, the Charity (Accounts arK1 Reports) RegulalNJns 2008 and the pmisions of the Trust deed. They are also responsible for safeguarding the asse15 of the Charity and hence for taking reasonabte slep$ for the prevention and detection ot fraud and other I￿egUlar1tie ved by ordef of the memb9rs of the board of Twstees and s￿ned on their behalf by.. Robèrt L Slow• Dalo.. 12 Page 3

THE RITA AND DAVID SLOWE CHARJTABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED SAPRIL 2021 Independent examinevs r•port to th• Trust995 of The Rita and David Slowe Charitable Trust llhè Charlty.) I report to the chanty Twslees on my examination of the accounts of the Charity for the year ended 5 April 2021. R•8pon$ibilitio8 and basis of report As the Truste8s of th8 Chanty you ore resp)nsible for the preparalion of the in accordance with tho requirements of tho Charths Act 2011 Ilhe 2011 W. I report in resFect of my examinatK)n of Ihe Charilys accounts Carried out under sed¢)n 145 of the 2011 Acl and in carrying out my èxamination I have followed the appI￿at)le Direction$ given by the Charity Commission under section 14515)Ibl of the 2011 Ad. Ind•p•nd•nt •xamln•rfs 8tatsmont Your attentlon Is diawn lo the fact thal the Charty has prepared the accounts in accordance with Accounting and Reporting by Charitiès". Statement of Re¢ommended Pr8ette applicable to charities preparing their accounts in accordance %wth the Finanual Reporting Siandard applicable in the UK and Republic of Ireland {FRS 1021 in preference to the A¢¢ounting ¥nd Reporting by Chants"os: Statement of Recommended Practr¢e issued on 1 April 2005 which is referred to in the exlant regulations but has been withdrawn. l understsnd that this has been done in order lor the aoxJnts lo provide a Inje and fair view in accordance with the G&ner81ty Aixepte¢J A¢¢ounting Practice effective for reporting periods beginning on or after 1 January 2015. I have ￿Mpleted my examination. I confirm that no matters have come lo my attention in connection wilh the examinatK)n giving me cause to belhwe that in any material respect accounling records were not kept in rospect ￿ the Chartty as roquirod by sgction 130 of the 2011 Act.. or the accounts do not accord wth those records.. or the accounts do not comply with the applicable requir8m8nts con￿mIng the fom and conlenl of 3r£x)unts set out in the CharrtEs IAcc4xJnts and Reports) Regulations 2008 other than any reqU1￿ment that the accounts give a IFue and fairf view i8 not a malier considered as part of an independent examination. I have no concems and have corne acTOSS no other matter5 in C(￿nection with the examination lo which attention shoukj be dravm in this r•w)rt in to •naLqe a proper understanding of the accounts to be reaGhed. Dated.. 8 November 2021 YoJan Patel FCA MHA Maclntyre Hudson, 2 Lonth)n Wall Pl*. London. EC2Y SAU Page 4

THE RITA AND DAVID SLOWE CHAR￿ABLE TRUST STATEMENT OF FINANCIAL ACTPIITIES FORfHE YEAR ENDED 5 APRIL 2021 EndO￿n￿nt Unrestricted funds lunds 2021 2021 Total fund8 2021 Total funds 2020 Incom• and •ndowments from: Investments 36.900 34.467 71.367 79, T98 Tutal endowments 36.900 34A87 71.367 79.798 Expenditure on: Raising funds- Investment management costs r.hAritxhlA Artiviti#$ 4.385 106.612 4,385 142,412 6,786 143,579 Total •xp•ndltur• Net expendltur• b•for• n•t galnsllloss•sl on Investm•nts 109,897 146,797 150,365 175.430) 280.210 (75,4301 316,660 (70,56TJ (247, 740J Net gainslllosse6) on investsn9nts N•t mov•m•nt In fund• 36,450 204,780 241,230 (318,30T) Total funds brought foThvard 430,164 36,450 1.8n.168 204,780 2,303.322 241,230 2,621,629 (318,307J Npt mnvpmpnt in flind$ Total fund$ forward 466,614 2,077,938 2,544.552 2,303,322 The Statement of finaneAal actNilies Indudes all 9alns and losae$ Ye¢o9ni#¢d in th¢ Y￿r. AJI income and expendibjre derive from continuing a¢iivitiOS. The notes on pages 7 to 16 fomi part of Ihese finanaal statements. Page 5

THE R￿A AND DAVID SLOWE CHARrrA8LE TRUST BALANCE SHEET AS AT 5 APRIL 2021 2021 2020 Flxed as$•ts Investments 1,883,688 1.916,902 1.883,688 1,916,902 Current a$$ets Debiof8 Invo$lm9nts Cash at bank and in hand 10 550,237 113,027 151,945 226, 755 003,264 388. TOO Creditors.. amount8 falling due within ono year 11 12AOOI (2,280) N•t eurr•rtt •M•ts 660.864 386,420 Total not assets 2.$44.552 2,303,322 Chartty fundg Endowmgnt funds Restricted lunds Unrestricted funds 12 12 12 466.614 430,164 2,077,938 1.873.158 Total funds 2.544.SS2 2,303,322 The financi•l •tatmnts w¢r¢ wvoved and auihpri¥ed for Is￿¢ by the Trutstees and signed on ¢h¢ir b¢half Robort L Slow• Dale.. The notes on pages 7 to 16 fomi part ofthese ffinancial statements. Page 6

THE RITA AND DAVID SLOWE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 Gen•rAI infomiatitsn The Rita and David charItsb￿ Foundali?n is a registered charitabk trust {numbèr 10482091 wrth thé Chaiity Commission in EngL7nd and Wa￿s. In the event of the Charity being wound up, the liability in respect ol the guarantee is limited lo £1 per member of the Charity. The address of the rggisl&r8d Office is given in the Charity information on page 1 of thesè financi81 statements. The nature of the Charity's Opgralions and principal acbmty is for the benefit of such exclusivdy charitablo oL4'ecls and purposes as the Trustees in their absolute discretitin think fiL A¢¢ountlng p•ll65•4b 2.1 Bash of pr•par•tlon ol flnan¢lal statsments The financial statements have been weparnd in ao>)rdance th the Charities SORP {FRS 1021 _ Accoutr)tin9 and R•parbng by ChJrity•6.' Statom8nt of Rocommondod Practiett opplicllblc to Charities preparing their aCr￿U￿ts in accordance with the Financjal Repottng Stsndard applicable in the UK and Republic of Ireland IFRS 1021. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Charib88 Aci 2011. The financial statements have been prepared to we a'true and fairf view and have dgparted frorn the Charities {Accounts and Reports) Regulations 2008 only to the extent required lo provide a 'lru8 and faif view. This departure has involved following the Charities SORP IFRS 1021 published In O¢t¢Jber 2019 rather than the Accounting and ReportiThJ by Charities.. Stat¢m&nt of Re￿rnmended Practice effectNe from 1 ￿￿12005 has since ken wilhdravm. The Rts and OavKI Charitable Trusl meets the tjefinilion of a public benefit entity under FRS 102. Assets and liabilities are init¢ally recognised 81 hi$lorKal o)st or transaction value unles8 otherwise staled in the relev8nl accounb.ng polity. ThA fin•n¢i•l #talernents are repared in storfing which is tho ftinctionl eurreney of th• Charity, rounded to the nearest £1. The signrfi¢anl xcounb.ng F<)liues aoied in the preparalKJn of these financAal statsments are sot out bdow. TW polKies have bgen c<￿s1$ten￿ appl￿￿ to all years presented unless otherwise 2.2 Golng conc•m The financial stslemen15 have been Prepared on a going concem basis as the tnjstees believ& that no material uncertainties exist. The Trustees have con&dèrl thè level of funds held and the expected level of income and e￿ndItU￿ for 12 months from authorisng these financial statements. The budgeted income and expenditure is sufficient Wtth the level of reserves for the Charity to able to continue a5 a g)ing concern. 2.3 In¢¢rn• AJI ino)me is recognised or￿e the Charity has entttlement to the income. it is probabk that the income will t re¢eived and the amount of income receivable can be measured reliably. Donations and the rekted gfft aid tax are accounted for on rèceipt of the donation. Income is included in full in the Statement of Financial Athihes. Income tax recoverable in relation to inveslmenl income is rKognised at the time the investment in¢om¢ 1$ re¢er¥able. Page 7

THE RrrA AND DAVID SLOWE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2021 A¢¥vuii¢ing poliGir5 IGontsnu•d) 2.4 Expènd5tur• Expenditure is re¢c*3nised once there is a legal or constructive oblKJation lo transfer economic benefit lo a third paty, it is probab￿ that a transfer of economic benefits will be ￿qUired in sett￿M8n1 and the amount of the obligation (2n ￿ measured reliably. Expenditure is classified by activity. Thè costs of each activity are made up of the total ol direct costs and shared costs. induding support costs involved in undertaking each activity. Direct c#)sts attributable lo a single activity are allocale¢J directly to that activity. Shared costs which ￿ntrIbute lo MO￿ than one activity an(1 support ￿sts which are not attributable to a single activity are apportioned bthe8n those activths on a basi$ ￿nSIStent with the use of resources. Eypendrtufe on raising furKls includes all exFenditure incurr8d by the Charity to raise funds for ils chaiitstAe puws and includes invethent manager costs. Expenditure on charitable activities is incurred on diredly undertaking the activities which further the Charty'$ oty'ectives, as well as any assouated support ¢osts. Grants payatAe are charged in Ihe year vthen the offer 1$ made except in those ¢2ses whero the offer is condits'onal. such grants being iecogni$ed as expenditure when the conditions attaching are fvlfilled. Grants offered subject to condit¢ons which have not beén met al the year and are noted a8 8 commitment. but not accruod as •xp¢ndi¢urt. AJI expendiiure 5$ indu$ive of irr¢¢ovtrabltr VAT. 2.5 Staff costs The Charty W no empbyees in the year12020: Nil). 2.6 Int•r•st r•¢owablg Interest on lunds held on deposit is incl¢Jded when receivable and the amount can be mtr8sured reliably by the Charity," this is nom81ty upon notifi¢8tion of the interest paid or payable by the institution with whom the funds are deFQStted. 2.7 Inv¢$tmonts Flxed asset investrr￿ntS are a form of financial instnjment and are initialty re￿3￿1$ed at Ihelr transaction cost aThJ subsequenty measured at fair value al the Balance sheet date, unless the value canr￿l be measureil reliabty in whith case il is measured at ccst less impalrment. Investment gains and k)sses, whether realised or unrealised. are fY)mbined and presented as 'GaingJlLossesl on inve8trnents' in the Statement of financial activities. Ur￿l￿ted inve5trnents are indLHknJ at a valuation last agreed with HM Revonue & Customs on 1 Marrli 2020. 2.8 D•bto Trdde and other debt￿3 are reco9nised al the setuemenl amount after gny trade di8count offered. Prepayment5 are valued at Ihe amount prepaKI net of any trade diswunt& due. Page 8

THE RITA AND DAVID SLOYE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED SAPRIL 2021 A¥wuiiliri¥ FwliG•¥¥ 2.9 Cash at bat)k and in hand Cash at bank and in hand indudes cash and short4em highly lqU￿ investments with a short malurfty of three months or less from the date of acquisibon or opening of tho deposit or similar a¢¢ounl. 2.10 Liabilities and provislons Liabilrtjes are recognisèd when th8r8 ts an obl￿a￿on al the Balartt shèet dale as a result of a past event, il is probable that a transfer of economic benefft will be required in sett18menl, and the amount of the str￿eMent can be estimated reliably. Liabilities are recogni$8d 01 the amount that the Charity anticip8le$ il will pty lo settle the debt or th& amount rt has receNed as thanced payments lor thè goods or services il musl provide. 2.11 Flnanelal In8trum•nts The Charty do&s not have a material hdding in complex financlal instruments. Th8 Charity only holds basic Financial InstruThntB. The financial a88ets and financial liabilities of the Charity are as follows.. Cash al bank- 1$ cla5srfied a5 a baslc financk?15nstnxnent and Is measured al face valu8. Liabilths grants accrued, accruals, bank klans and overdrafts, and other credltors wlll be classifie<l as finanual instruments. aTrJ are measured al amoth'sed cost as d&tsiled in Note 11. Deferred Ir￿)me is not deemed to be a financial liatslity, as the cash settlement has already taken place and there i8 simply an obligation to deliver ctharital)le servins ralher than cash or another fin¥n¢ial inslrumenL 2.12 Fund accounting General fijnds are unrestrth funds Wh￿ are avaiLible for use al the discretion of the Trustees in furtheranee of the general objeclives of the Charity and whth have not deslanaled for other Endowinent funds represent those assets which must be herd pernanentty by the Charity. Income arising on the erdowmenl fvnd$ can be used in accordance wth the objects of the Chartty. Any capital gains or losses arising on the investments form part of the ftjnd. Investment management charges and legal advi￿ reLating to the fund are d)arged against the fund. End¢)wed funds arfj hekl in pgrpetuity to 9gner income to further the obj'ects of the Charity. Investment in¢ome, gains and h)sses are all￿81￿ to the approwiate fund. Page 9

THE RITA AND DAVID SLOWE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 Critical accounting •stimat•s and ar•at of Judgm•ht Estimates and judgments are conts'nualty evahjated. The Charity makes esb"mates and assumptKins conceming the fulure whth are based on historical experience and other factors, ineluding expectslions of future events that are beli•v*d to bè rèasonable under the circumstances. The estimates and assumpts'ons that have a significant risk of cau&ng a material adjustment to the carying arr￿Jnts of assets and liabilities within the next financial year aro discussed bo1￿. Critical ar•as ofjudgm•nt'. Basis of valuation of unlisted financk?l iivestments. JnvMtm•nt Sneom• Endowment Unrn8trfet•d fund$ funds 2021 2021 Totsl funds 2021 Dividends and bond intsrest re¢eNed Depcssit interest received 34.292 175 71,192 175 34.467 71,367 Endthvm&nl Unrestnc funds fvnds .2020 2020 Total fund 2020 DNidend8 and bond interèst receNed DeFosiI interest received 36,9LXI 41,580 1,318 T8,480 1,318 36,9GQ 42,898 T9, 798 Page 10

THE RITA AND DAVID SLOWE CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED SAPRIL 2021 Analy¢t¢ ot •xp•nditur# by activ¢ti¢B Grdllt Supportl funding of governance a￿vIt[•S 2021 Total fund8 2021 2021 charita1￿8 activities 140,000 2,412 142,412 Grant Support/ fynuing ot govam8nce activit￿5 costs 2020 2020 lot81 funds 2020 Charita￿• a¢tiviti•s 140,000 3,579 143,579 Analysis of suppo￿ Govemanc¢ cosls Total funds 2021 Tot81 funds 2020 Legal expen$8S Accountancy fees Independent examiners fees Sundry eypenses 1,200 1,596 1.700 700 12 99 2.412 3,5T9 Page11

THE RITA AND DAVID SLOWE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 Grants to eharitsble in¢tituti•n6 2021 2020 m￿r010#n Foundation Shelter Big Issue Foundation Crisis R8£yde Excellent Development ener Library CampayJn Against Living Miserabty (CALM) 17,500 17,SOO 17,500 17,SOO 17.500 17.500 17,500 17.500 11,5QO 17.5tXI 17.500 17.500 17,500 17,500 17,500 17,500 140.000 140,000 Of tho £140,000 grants mado in the yw (2020.. È140.0001. £36.900 was pakl from tho penY¢anenl endowment fvnd {2020.' £36,900). Trust￿$. romun•ratk*n and •xp•nso• During Iho year, no Trust••s rtteived any remuneralwjn or othor benefits (2020- £NIL). During Ihe year ended S April 2021. no Trus￿ eyp•nses have been incurred (2020- £NIL). Page 12

THE RITA AND DAVID SLOWE CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 Flx•d aèè•t Inv•6trn•ntÈ Llsted Unllstad investments investments Total Cost or valuation At 6 April 2020 Additions Disposals Revaluation$ 1.568,152 348.750 1.916.902 1.904 1279.9271 244.809 {279,927} 208.359 36ASO At S April 2021 1,498.488 385.20D 1.883.688 Of the total revaluation gains on listsd inv•stsn8nts in the year of £280.210. £71.851 are realised gains and £208.359 are unrealised gair￿. AJI 98in8 on unlisted investments are Unreal￿d. The historic cost of listed investments Was as follows.. UK listed Gilts & bonds of £272,740 12020.. £272,740) and UK listsd equities of £845.10212020 £1.103.0531. The unlisted investrnents represent 450 ordinary shares in J Leon & Co Ltd. valued at £858 per share 12020.. £775 per share). Debtors 2021 2020 Du• wEthln on• y•ar Other debtors 10,000 10,000 Page 13

THE RITA AND DAVID SLOWE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 10. Currgnt a$$•t 5nv•ttm•ntè 2021 2020 Cash held by $lod(brokers {income ￿￿untI Cash hekj by slCK*brC&e￿ Icapital account) 3,343 148,602 550.237 550.237 151,945 11. Crèditorn: Amounts f•lllng due w5thin one year 2021 2020 A¢¢w3l8 2AOO 2,280 Page 14

THE RThA AND DAVID SLOWE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 12. Stat•m•nt of funds statement of funds- eurr•nt y•ar Balane• at 6 April 2020 Gainsl Balance at S (Lossès) Aprll 2021 Ineom• Exp•ndStur• Vnr•strl¢ted funds General Funds 1.8n.158 34,467 {109,89n 280,210 2.077.938 Endo7Tnent fund$ Pem8nenl Endowrnenl Fund 430,164 36,900 {36,900) 36,4SO 466.614 Total tsl lund$ 2.303.322 71.367 {146,797} 316,660 2,644,652 The pemi¥nenl endcHmenl fund ind￿Je$ tho unlisted investment in J Leon & Co Ltd, plus th• proceeds of the historic Sa￿ of J Leon & Co Lld shares, being £81.414. It is noted that the $ha￿h¢kI1ngs are S￿￿'e¢l lo the restrKtion on transfer contained in the Memorandum and Articles of Assouab"on ol J Leon & Co Ltd. The capital of the endowment fund may not be spent on the general objects of the Trust.. h)•￿er. income generated from the fund may bg us¢d al the discffjlion of the Truste8S. Stt•rnènt of fund¥- prlor y•ar Bal8n¢e at l A￿￿ ?014 G8in 88lance at (Lossgs) 5 April 2020 Inwrne Exp8rKIrfIi Unmtrlcted funds General Funds 2. 191.465 42.898 (113.465J (247, 740) 1,873, 158 Endowmènt funds P8miananl Endowmnt Fund 430.164 36,9 (36.900) 430,164 Total of fvnd¥ 2,621.629 79,798 (150,365) (24T, 740J 2.303,322 Page15

THE RITA AND DAVID SLOWE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2021 13. Analy&k of n•t aÈ¢ots b1￿•￿ fund6 Analysls of not assts boiween fvnds- cUrr￿t y¢ar Endowment Unr•stricted fund$ funds 2021 2021 Total fund8 2021 Fixed asset inveStm￿ts Curtent a55ets credito￿ due vrithin one yoar 385,200 81.414 1,498,488 $1,¥su {2,4001 1,883,688 663,264 12,4001 Total 466.674 2,077,938 2,544.552 Analys1$ of nèt a8Mt8 b•tw••n fund¥- prloryear Endowment un￿S1￿cted fvnds lunds 2020 2020 Total fvnds 2020 Fixed asset inveskn•nts Debtors due after MO￿ than one year Current assets Creditors dyo wilhin one year 348,750 flO,OCIg) 91,414 1,568, 152 10,000 297,286 (2,280) 1,916,902 388, 700 (2,280J Tot*1 430,164 1.873, 158 2,303,322 14. Related party transa¢tlon8 R L Sbwe, J L Skjwe and G Weinberg have nonthigfKialty parbcipating interests in J Leon & Co Ltd, the Company In which the pennanent 9nd¢?￿ment fund is invested. In the year, the Chority received £36,900 (2020.. £36.900} in dividend incilme from th8ir $hareholding in J Leon & Co Ltd. Page 16