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|Contents||
|---|---|
|Charitydetails|3|
|ReportoftheDirectors|4—8|
|Independentauditors'report|9—13|
|Statementoffinancialactivities|14|
|Summaryincomeandexpenditure|15|
|Balancesheet|16|
|Statementofcashflows|17|
|Notestothefinancialstatements|18-28|
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08 December 2023
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|||**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**|
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|**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**|
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||**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**|
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||**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**|
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|**.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_**|
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||**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:**|||
|**UK**fixedinterestsecurities|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_**|
##
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|||**2023**|**_2022_**|
|---|---|---|---|
|Rothschild&CoBankInternationalLimited|Cashandcashequivalents|436,066|_505,048_|
|**NM**Rothschild&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_|
|**NM**Rothschild&SonsLimited|Monetarydonation||_110,000_|
|**NM**Rothschild&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**|