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|Contents||||Page No|
|---|---|---|---|---|
|Trustees'<br>report||||1-4|
|Statement ofTrustees'|Responsibilities|and Trustees'|Approval||
|Independent<br>auditors'|report to the Trustees|||6-9|
|Statement of Financial|Activities|||10|
|Balance Sheet|||||
|Statement ofCash Flows||||12|
|Notes to the Financial|Statements|||13-24|





|Trustees|||Jeremy Isaacs|
|---|---|---|---|
||||Joanne Isaacs|
||||Helen Eastick|
||||Vincent lsaacs|
||||Jack Louis Isaacs|
||||Ellie Maya Isaacs|
|Bankers|||HSBC Private Bank (IJK) Limited|
||||8Cork Street,|
||||London,|
||||W15 3LJ|
|Auditors|||Saffery LLP|
||||Mitre House|
||||North Park Road|
||||Harrogate|
||||HG1 SRX|
|Registered|Office||Mutual<br>House|
||||70Conduit Street|
||||London|
||||W15 2GF|
|Registered|Charity|Number|1059865|





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|||||Unrestricted|Restricted|Total funds|Total funds|
|---|---|---|---|---|---|---|---|
||||Note|funds|funds|2023|2022|
|||||E|E|E|E|
|Income from:||||||||
|Charitable<br>activities|||||||14,002|
|Investments||||424,918||424,918|424,111|
|Total income||||424,918||424,918|438,113|
|Expenditure<br>on:||||||||
|Charitable<br>activities||||424,076|428,440|852,516|492,541|
|Investment<br>management||||||||
|costs||||100,957||100,957|76,625|
|Total expenditure||||525,033|428,440|953,473|569,166|
|Net (losses)/income||prior to||(100,115)|(428,440)|(528,555)|(131,053)|
|gains and losses on||||||||
|investments||||||||
|Net (losses)/gains|on||16|299,971||299,971|854,497|
|investments||||||||
|Net (expenditure)/income||||199,856|(428,440)|(228,584)|723,444|
|Transfers<br>between||funds||(21,169)|21,169|||
|Net movement<br>in|funds|||178,687|(407,271)|(228,584)|723,444|
|Reconciliation<br>offunds||||||||
|Total funds brought||forward|17|14,723,669|407,271|15,130,940|14,407,496|
|Total funds carried||forward|17|14,902,356||14,902,356|15,130,940|





||||Note|2023|2022|
|---|---|---|---|---|---|
|||||6|6|
|Fixed assets||||||
|Investments||||14,498,264|14,255,024|
|Total fixed assets||||14,498,264|14,255,024|
|Current assets||||||
|Debtors|||10|280,558|384,996|
|Cash at bank|and<br>in|hand||1,192,394|1,523,750|
|Total current|assets|||1,472,952|1,908,746|
|Creditors: Amounts||falling due within one year||(208,860)|(172,830)|
|Net current|assets|||1,264,092|1,735,916|
|Total assets|less current liabilities|||15,762,356|15,990,940|
|Creditors: Amounts||falling due after one year||(860,000)|(860,000)|
|Net assets||||14,902,356|15,130,940|
|Funds ofthe|Charity:|||||
|Unrestricted|funds||17|14,902,356|14,723,669|
|Restricted funds|||17||407,271|
|||||14,902,356|15,130,940|





||||||Note|2023|2022|
|---|---|---|---|---|---|---|---|
||||||||6|
|Cash flows from operating|activities|||||||
|Net cash used in operating|activities||||15|(813,004)|(520,664)|
|Cash flows from investing|activities|||||||
|Purchase of investments|||||||(898,607)|
|Redemptions|||||||135,657|
|Investment<br>income||||||399,414|409,752|
|Interest received||||||25,503|14,359|
|Net cash generated<br>by investing||activities||||424,917|(338,839)|
|Cash inflows from new borrowing|||||||860,000|
|Net cash generated<br>by financing||activities|||||860,000|
|Change in cash and cash equivalents|||in the|year||(388,087)|497|
|Cash and cash equivalents|at the|beginning||ofthe||||
|year||||||1,523,750|1,498,194|
|Change<br>in cash and cash|equivalents||due|to the||56,731|25,059|
|exchange rate movements||||||||
|Cash and cash equivalents|at the|end|ofthe|year||1,192,394|1,523,750|





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|||||Unrestricted|Restricted|Total funds|
|---|---|---|---|---|---|---|
|||||funds|funds|2022|
|||||E|f|E|
|Income from:|||||||
|Charitable<br>activities||||14,002||14,002|
|Investments||||424,111||424,111|
|Total income||||438,113||438,113|
|Expenditure<br>on:|||||||
|Charitable<br>activities||||474,957|17,584|492,541|
|Investment<br>management|||costs|76,625||76,625|
|Total expenditure||||551,582|17,584|569,166|
|Net (losses)/income||prior|to gains and losses on|(113,469)|(17,584)|(131,053)|
|investments|||||||
|Net gains/(losses)|on investments|||834,217|20,280|854,497|
|Net income||||720,748|2,696|723,444|
|Transfers<br>between||funds|||||
|Net movement<br>in|funds|||720,748|2,696|723,444|
|Reconciliation offunds|||||||
|Tota I funds<br>brought||forwa|rd|14,002,921|404,575|14,407,496|
|Total funds carried||forward||14,723,669|407,271|15,130,940|





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|||||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||E|f|
|Donations|received from||||Trustees||||||14,002|
|In 2023, Enil||ofdonations|||(2022:Enil)|were attributable||to restricted funds.||||
|nvestment|income|||||||||||
|||||||||||2023|2022|
|||||||||||6|6|
|Investment|income|||||||||399,414|409,752|
|Loan interest||received||||||||1,598|9,177|
|Bank interest||received||||||||23,906|5,182|
|Tota I||||||||||424,918|424,111|
|nalysis of|charitable||expenditure|||||||||
|he Charity|undertakes|||its|charitable|activities<br>through||donations|to institutions<br>in furtherance<br>of|||
|bjectives.||||||||||||
|||||||Donations||Support and||Total 2023|Total 2022|
|||||||activity|governance||costs|||
|||||||||(note 7)||||
||||||||||E|||
|Funded from||unrestricted|||funds:|||||||
|Care for children||||||85,000|||3,897|88,897|122,098|
|Education||||||27,500|||1,262|28,762|173,764|
|Tolerance|in|our community||||71,000|||3,255|74,255|21,707|
|Hea Ithca re||||||172,150|||7,893|180,043|154,675|
|As hoc/other||||||49,834|||2,285|52,119|2,713|
|Funded from||restricted||funds:||||||||
|Hea Ithca re||||||428,440||||428,440|17,584|
|Total||||||833,924||18,592||852,516|492,541|



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|Included|in donations|are amounts|above E30,000|paid to the following|charitable|causes;||
|---|---|---|---|---|---|---|---|
||||||6||E|
|United|Jewish Israel|Appeal (unrestricted)|||48,990||48,990|
|Noah's|Ark Children's|Hospice (unrestricted)|||107,750||107,750|
|RSBC(unrestricted)|||||50,000||50,000|
|Policy|Exchange (unrestricted)||||||50,000|
|AWIS (unrestricted)|||||49,834|||
|H J Stringer (restricted)|||||428,440|||
||||||685,014||256,740|





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||||2023|2022|
|---|---|---|---|---|
||||6|E|
|Office costs|||178|115|
|Bank charges|||(133)|98|
|Total|||45|213|
|Governance|costs||||
||||2023|2022|
||||6||
|Audit and accountancy|||17,210|25,098|
|Other professional||fees|1,337|11,920|
|Support costs||||107|
|Total|||18,547|37,125|



||2023|2022|
|---|---|---|
||f|6|
|Care for children|3,897|9,598|
|Education|1,261|13,660|
|Tolerance<br>in our community|3,255|1,707|
|Healthcare|7,893|12,159|
|Adhoc/other|2,286|214|
|Total allocated|18,592|37,338|



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|vestment<br>Costs||||
|---|---|---|---|
|||2023|2022|
|||E|E|
|Cost ofmaintaining|fine art||(231)|
|Interest on the bank|loan|36,845||
|Property service charges||64,112|76,856|
|Total||100,957|76,625|





|vestments|at carrying<br>value:|||
|---|---|---|---|
|||2023|2022|
|||6|6|
|Fine Art||2,500,000|2,500,000|
|Investment|property|6,000,000|6,800,000|
|Private equity funds —UK||5,554,385|4,537,610|
|Private equity funds —non-UK||443,879|417,414|
|Total||14,498,264|14,255,024|



|ll ofthe C|harity's<br>investments<br>are non-listed<br>and are held to|provide investment<br>retu|rns for the Char|
|---|---|---|---|
|||2023|2022|
|||6|6|
|Valuation|as at 31March 2022 and 31March 2021|14,255,024|12,733,500|
|Surplus of|valuation<br>over cost|(2,720,217)|(1,893,003)|
|Cost as at|31March 2022 and 31March 2021|11,534,807|10,840,497|
|Movements<br>during the year:||||
|Additions|||898,607|
|Transfer||||
|Disposals/Redemptions|||(204,297)|
|Cost as at|31March 2023 and 31March 2022|11,534,807|11,534,807|
|Surplus of|valuation<br>over cost|2,963,457|2,720,217|
|Valuation|as at 31March 2023 and 31March 2022|14,498,264|14,255,024|





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|stments<br>held|at th|e ye|ar end in excess of61,000,000|||
|---|---|---|---|---|---|
|||||2023|2022|
|||||6|6|
|JRJ Investor 1|Limited||Partnership|3,477,149|2,695,697|
|JRJ Partner 2 LP||||1,048,044||
|Iproov Limited||||1,029,190|1,029,190|
|Fine art||||2,500,000|2,500,000|
|Investment<br>property||||6,000,000|6,800,000|
|Total||||14,054,383|13,024,887|
|Debtors||||||
|||||2023|2022|
|||||6|6|
|Trade debtors|||||60,000|
|Other debtors||||160,636|148,695|
|Prepayments|and|accrued income||119,922|176,301|
|Total||||280,558|384,996|
|Other debtors|includes||687510(2022:f80039) due after more than one year,|||
|Creditors: Amounts||falling due within one year||||
|||||2023|2022|
|||||f|f|
|Accruals and deferred|||income|199,060|163,030|
|Other creditors||||9,800|9,800|
|Total||||208,860|172,830|
|Creditors: Amounts||falling due after one year||||
|||||2023|2022|
|||||6|6|
|Bank Loan||||860,000|860,000|
|Total||||860,000|860,000|



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|Deferred|Income at|1April 2022|92,745|
|---|---|---|---|
|Resources deferred||in year|96,857|
|Amount|released from prior year||(92,745)|
|Deferred|Income at|31March 2023|96,857|



||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|
|Financial|assets||||||f|6|
|Financialassets||measured|at|amortised|cost/deemed|cost|1,633,706|1,658,633|
|Financialassets||measured|at|fair value|||13.025,194|12,808,420|
||||||||14,658,900|14,467,053|
||||||||2023|2022|
|Financial|liabilities||||||6|f|
|Financial|liabilities measured|||at amortised cost|||962,203|930,302|
||||||||962,203|930,302|



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||2023|2022|
|---|---|---|
||6|6|
|Audit|17,210|15,450|
|Tax|||
|Total|17,210|15,450|





||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|
||||||||f|f|
||Net movement<br>in funds||||||(228,584)|723,444|
||Adjustments<br>for:||||||||
||Interest received||||||(25,503)|(14,359)|
||Investment<br>income||||||(399,414)|(409,752)|
||Net fair value movements||||||(299,971)|(854,497)|
||Disposal ofinvestments|||||||68,640|
||Decrease/(Increase)<br>in debtors||||||104,438|(62,357)|
||(Decrease)/Increase<br>in creditors||||||36,030|28,217|
||Net cash used in operating<br>activities||||||(813,004)|(520,664)|
|16|Net gains/(losses)<br>on investments||||||||
||||||||2023|2022|
||||||||f|f|
||Foreign exchange gains/(losses)|on conversion|||||248,905|172,733|
||Foreign exchange gains/(losses)|on cash|balances||||56,731|25,059|
||Foreign exchange gains on debtors balances|||||||2,225|
||Net<br>realised<br>and<br>unrealised|(losses)/|gains|on|fair|value|(5,665)|654,480|
||movements||||||||
||||||||299,971|854,497|
|17|Analysis ofcharitable<br>funds||||||||
||As 1April|Income|Expenditure|||Investment|Transfers|31March|
||2022<br>f||||f|gains/losses<br>f|f|2023<br>f|
||Restricted<br>407,271||(428,440)||||21,169||
||funds||||||||
||Unrestricted<br>14,723,669|424,918|(525,033)|||299,971|(21,169)|14,902,356|
||funds||||||||
||15,130,940|424,918|{953,473)|||299,971||14,902,356|





||||Unrestricted|Restricted|Tota I funds|
|---|---|---|---|---|---|
||||funds|funds|E|
||||E|E||
|Fixed Assets|||14,498,264||14,498,264|
|Current|Assets||1,472,952||1,472,952|
|Current|Liabilities||(208,860)||(208,860)|
|Non-Current<br>Liabilities|||(860,000)||(860,000)|
|Total net assets|||14,902,356||14,902,356|
|mparative|information|in respect ofthe preceding|period is as follows:|||
|||Unrestricted||Restricted|Tota I funds|
||||funds|funds|f|
||||f|E||
|Fixed Assets|||14,255,024||14,255,024|
|Current|Assets||1,501,475|407,271|1,908,746|
|Current|Liabilities||(172,830)||(172,830)|
|Non-Current<br>Liabilities|||(860,000)||(860,000)|
|Total net assets|||14,723,669|407,271|15,130,940|



|xt five|years, which are sum|marised<br>below:|||||
|---|---|---|---|---|---|---|
|||Original|Commitment||«1yr|&1yr|
|||commitment|brought||||
||||forward||||
|Activities<br>in relation to:|||||||
|e|CST3Year Pledge|E90,000|E60,000|E30,000|E30,000||
||(2021)||||||
|~|Medical School|E195,960|E48,900||||
||Scholarships||||||
|~|Hope's fund|E1,164,103|E407,271||||
|~|Noah's<br>Ark|E300,000|E200,000|E100,000|E100,000||
|e|Noa Girls|E30,000|E10,000||||
|~|Langdon|E30,000|E10,000||||
|~|JLC|E45,000|E15,000||||
|~|Royal Society for|E100,000|E50,000||||
||Blind Children||||||
|~|Hypothalmic|E3,000|E3,000||||
||Hope||||||
||Hamartomas||||||