2023-03-31-accounts

Contents
Charitydetails	3
ReportoftheDirectors	4—8
Independentauditors'report	9—13
Statementoffinancialactivities	14
Summaryincomeandexpenditure	15
Balancesheet	16
Statementofcashflows	17
Notestothefinancialstatements	18-28

08 December 2023

		Unrestricted	Restricted	Endowment
	Note	funds	funds	funds	Total2023	Total2022
						(Note14)
Incomeandendowments
from:
Donations	2(a)	-	1,508,122	827,890	2,336,012	3,292,678
Investments	2(b)	-	36,841		36,841	30,478
		-	1,544,963	827,890	2,372,853	3,323,156
Expenditure:
Raisingfunds	3		38,096		38,096	40,756
Charitableactivities	4	23,528	1,515,559	-	1,539,087	1,630,909
		23,528	1,553,655	-	1,577,183	1,671,665
		(23,528)	(8,692)	827,890	795,670	1,651,491
Net(losses)/gainson
investments	7	-	(163,379)	-	(163,379)	100,298
FX(losses)/gains			5,034		5,034	(1,140)
Netincome/(expenditure)
andNetmovementinfunds		(23,528)	(167,037)	827,890	637,325	1,750,649
Totalfundsbroughtforward		43,202	5,805,320	19,884,198	25,732,720	23,982,071
Totalfundscarriedforward	10	19,674	5,638,283	20,712,088	26,370,045	25,732,720

Fortheyearended31March2023
	2023	2022
Totalincome	1,544,963	1,665,118
Totalexpenditure	(1,577,183)	(1,671,665)
Realisedandunrealisedgains/(losses)onrevaluationof
investments	(163,379)	100,298
FX(losses)/gains	5,034	(1,140)
Surplus/ (loss)fortheyear	(190,565)	92,611

	Note	2023	2022
Fixedassets
Heritageassets	6	21,377,507	20,549,617
Investments	7	4,643,680	4,844,455
		26,021,187	25,394,072
Currentassets
Cashandcashequivalents		436,066	505,048
		436,066	505,048
Liabilities
Creditors:Amountsfallingduewithin oneyear	8	72,208	66,400
Netcurrentassets		363,858	438,648
Totalassetslesscurrentliabilities		26,385,045	25,832,720
Creditors:Amountsfallingdueaftermorethan
oneyear	8	15,000	100,000
Totalnetassets		26,370,045	25,732,720
Funds
Endowments		9,974,469	9,146,579
Revaluationreserve		10,737,619	10,737,619
	11	20,712,088	19,884,198
Restricted	11	5,638,283	5,805,320
Unrestricted	11	19,674	43,202
Totalcharityfunds		26,370,045	25,732,720

	Note	2023	2022
Cashflowsfromoperatingactivities
Netincomefortheyear		637,325	1,750,649
Adjustmentsfor:
Donatedassets	2a	(827,890)	(1,658,038)
Investmentincome	2b	(36,841)	(30,478)
Investmentmanagementfees	3	38,096	40,756
Netgains/(losses)oninvestments	7	163,379	(100,298)
Decrease/(increase)indebtors
(Decrease)/increaseincreditors	8	(79,192)	139,400
Netcashflowsfromoperatingactivities		(105,123)	141,991
Cashflowsfrominvestingactivities
Dividendsandinterestfrominvestments	2b	36,841	30,478
Investmentmanagementfees	3	(38,096)	(40,756)
Purchaseofinvestments	7	(1,129,412)	(508,163)
Proceedsfromsaleofinvestments	7	1,196,425	541,257
Netmovementinmanagedcashbalance	7	(29,617)	(48,247)
Netcashflowsfrominvestingactivities		36,141	(25,431)
Changeincashandcashequivalentsinreporting
period		(68,982)	116,560
Cashandcashequivalentsbrought
forward		505,048	388,488
Cashandcashequivalentscarried
forward	9	436,066	505,048

.Incomeandendowments .Donations
	Unrestricted	Restricted	Endowment
	funds	funds	funds	Total2023
Incomeandendowmentsfrom:
Monetarydonations		3,546		3,546
Donatedgiftsandservices	-	1,504,576	827,890	2,332,466
	-	1,508,122	827,890	2,336,012
	Unrestricted	Restricted	Endowment
	funds	funds	funds	Total2022
Incomeandendowmentsfrom:
Monetarydonations		135,000		135,000
Donatedgiftsandservice	-	1,499,640	1,658,038	3,157,678
	-	1,634,640	1,658,038	3,292,678

	2023	2022
Runningcostsofthecharityatvaluation	1,504,576	1,499,640
Tangiblefixedassetadditionsatvaluation	827,890	1,658,038
	2,332,466	3,157,678

.Investmentincome
	2023	2022
Listedinvestments:
UKfixedinterestincome	3,747	74
UKdividendincome	16,896	16,246
Overseasequities	15,461	14,158
Unlistedinvestments:
UKGiltinterest	731
	36,835	30,478
Bankinterest	6
	36,841	30,478

3. Raisingfunds
	Unrestricted	Restricted	Endowment	Total
	funds	funds	funds	2023
Investmentmanagementfees		38,096		38,096
	Unrestricted	Restricted	Endowment	Total
	funds	funds	funds	2022
Investmentmanagementfees		40,756		40,756

4. Charitableactivities
	Unrestricted	Restricted	Endowment
	funds	funds	funds	Total2023
Bankcharges/Interest	(631)			(631)
Bursariesawardedtoindividuals	4,011			4,011
Biographycosts		10,984		10,984
Auditandaccountancy	20,148			20,148
Donatedservices		1,504,575		1,504,575
	23,528	1,515,559		1,539,087
	Unrestricted	Restricted	Endowment
	funds	funds	funds	Total2022
Bankcharges	689			689
Bursariesawardedtoindividuals	3,000	-		3,000
Legalandprofessional	5,280			5,280
Auditandaccountancy	12,300			12,300
Donatedservices		1,609,640		1,609,640
	21,269	1,609,640		1,630,909

	Unrestricted	Restricted	Endowment
	funds	funds	funds	Total2023	Total2022
Auditfee(includingVAT)	17,208			17,208	11,400
Auditfee-underprovision	2,940			2,940	900
	20,148			20,148	12,300

	2023	2022
Cost/valuation
At1April	20,549,617	18,891,579
Additionsduringtheyear	827,890	1,658,038
At31March	21,377,507	20,549,617

	2023	2022	2021	2020	2019
Donationsatvaluation	827,890	1,658,038	45,097	30,335	93,925
Totaladditions	827,890	1,658,038	45,097	30,335	93,925

Investments
	2023	2022
At1April	4,844,455	4,729,004
Additionsatcost	1,129,412	508,163
Saleproceedsfromdisposals	(1,196,425)	(541,257)
Realisedandunrealisedgains/(losses)	(163,379)	100,298
Netcashmovements	29,617	48,247
At31March	4,643,680	4,844,455
estmentscomprise:
	2023	2022
Listedinvestments:
UKfixedinterestsecurities	522,322	380,740
UKequitiesandequityfunds	635,666	501,897
Overseasequitiesandequityfunds	2,392,980	2,603,648
Hedgefunds	509,250	549,732
Moneymarket	147,182	265,737
Other	436,280	542,701
	4,643,680	4,844,455
Historicalcost	3,519,256	3,614,270

	2023	2022
Accruals	40,000	125,000
Othercreditors	47,208	41,400
	87,208	166,400

			Foreign
	At1 April	Cash	exchange	At31March
	2022	flows	movements	2023
Cashandcashequivalents	505,048	(74,016)	5,034	436,066
Total	505,048	(74,016)	5,034	436,066

.Funds
	At1 April			Revaluationof	At31March
	2022	Income	Expenses	investments	2023
Unrestrictedfund	43,202		(23,528)		19,674
Restrictedfunds:
Scientistsproject	23,088				23,088
Archive	5,782,232	1,549,997	(1,553,655)	(163,379)	5,615,195
Endowmentfund	19,884,198	827,890		-	20,712,088
	25,732,720	2,377,887	(1,577,183)	(163,379)	26,370,045
	At1 April			Revaluationof	At31March
	2021	Income	Expenses	investments	2022
Unrestrictedfund	64,471		(21,269)		43,202
Restrictedfunds:
Scientistsproject	23,088				23,088
Archive	5,668,352	1,663,978	(1,650,396)	100,298	5,782,232
Endowmentfund	18,226,160	1,658,038			19,884,198
	23,982071	3,322,016	(1,671,665)	100,298	25,732,720

**11.Analysisofneta **	ssetsbetweenfund	s
	Unrestricted	Restricted	Endowment
	funds	funds	funds	Totalfunds
Heritageassets		665,419	20,712,088	21,377,507
Investments		4,643,680		4,643,680
Currentassets	36,882	399,184		436,066
Liabilities	(17,208)	(70,000)	-	(87,208)
At31March2023	19,674	5,638,283	20,712,088	26,370,045
Heritageassets		665,419	19,884,198	20,549,617
Investments	-	4,844,455		4,844,455
Currentassets	54,602	450,446		505,048
Liabilities	(11,400)	(155,000)		(166,400)
At31March2022	43,202	5,805,320	19,884,198	25,732,720

		2023	2022
Rothschild&CoBankInternationalLimited	Cashandcashequivalents	436,066	505,048
NMRothschild&SonsLimited	Othercreditors	(30,000)	(30,000)
		406,066	475,048

		2023	2022
Rothschild&CoWealthManagement(UK)
Limited	Investmentmanagementfeespaid	(38,096)	(40,756)
Rothschild&CoContinuationLimited	Donatedgifts		1,641,425
NMRothschild&SonsLimited	Monetarydonation		110,000
NMRothschild&SonsLimited	Donatedservices	1,504,576	1,499,640
		1,466,480	3,210,309

	Unrestricted	Restricted	Endowment
	funds	funds	funds	Total2022
Incomeandendowmentsfrom:
Donations		1,634,640	1,658,038	3,292,678
Investments		30,478		30,478
		1,665,118	1,658,038	3,323,156
Expenditure:
Raisingfunds		40,756		40,756
Charitableactivities	21,269	1,609,640		1,630,909
	21,269	1,650,396		1,671,665
Net(losses)/gainsoninvestments	-	100,298		100,298
FX(losses)/gains	-	(1,140)		(1,140)
Netincome/(expenditure)	(21,269)	113,880	1,658,038	1,750,649
Totalfundsbroughtforward	64,471	5,691,440	18,226,160	23,982,071
Totalfundscarriedforward	43,202	5,805,320	19,884,198	25,732,720