2022-12-31-accounts - David And Elaine Potter Foundation

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Contents			Page
Report ofthe	Trustees
Independent	Auditors'	Report	10
Statement of	Financial	Activities	13
Balance Sheet			14
Statement of	Cash Flows		15
Notes forming	part of	the Financial Statements	16

Area		Totalspend (E)	5Loftotalspend	Number ofgrants
Education		8,386,403	37.1Yv	202
Civil Soaety		6,682,204	29.5'Yo	142
Research		4,846,265	21.41v	17
Arts & Non-strategic		1,951,708	8,7Yv	124
Community	Ik Health	758,989	3.3YO	51
TOTAL		F22,625,569		536

Donmar Warehouse				10,000	Arts
Hampstead Theatre				10,000	Arts
National Youth Jazz	Orchestra			10,000	Arts
Performa				30,007	Arts
Philharmonia Orchestra				30,000	Arts
Death Penalty Project				45,000	Civil Society —Human	Rights
Global LegalAction	Network			40,000	Civil Society - Human	Rights
Prisoners Abroad				35,000	Civil Society - Human	Rights
Corruption Watch South Africa				45,562	Civil Society —Governance
Inkululeko South Africa Media				65,812	Civil Society —Governance
Trust for the Bureau	of Investigative	Journalism,	the	100,000	Civil Society - Governance
Access Project, the				20,000	Education
Brilliant Club, the				35,000	Education
Challenge Partners				36,658	Education
Engineering Development Trust				35,800	Education
Ikamva Youth				35,438	Education
MygigCareer				25,000	Education
University of Cape Town				111,846	Education
British Red Cross				10,000	Non-Strategic
Disasters Emergency	Committee			40,000	Non-Strategic
Listening Place, the				10,000	Non-Strategic
TOTAL GRANTS AWARDED 2022				6781,123
Highlights of major	grants awarded	in 2022

produced a gain of	3.42'Yo (2021 —	sterling gain of6.4	6Y0).
			2019	2020	2021	2022
Values in Sterling			E	E	E	E
Investment income			377,245	186,536	150,782	94,371
Donations and legacies			149,187	121,805	120,407	59,433
Total income			526,432	308,341	271,189	153,804
Opening funds			18,727,191	17,475,603	16,472,210	16,586,609
Costs ofinvestment	management	and charitable	(1,279,551)	(1,157,158)	(1,061,424)	(1,054,019)
activities
Movement on capital funds			(498,469)	(154,576)	904,634	525,548
Closing funds			17,475,603	16,472,210	16,586,609	16,211,942
Total return in Sterling per annum			(1.04)Yo	(0.15)'Yo	6.46Yo	3.42%
Global Currency Index (GCI)
Exchange rate currency index/E January 1st			0.8122	0.7795	0.7926	0.7796
Exchange rate currency index/E December 31st			0.7795	0.7926	0.7796	0.8229
Increase/(Decrease)	in value ofSterling versus
GCI			4.20Yo	(1.68)Yo	1.67Yo	(5.26)%
Values in GCI			GCI	GCI	GCI	GCI
Investment income	—GCI, year end		675,346	213,994	203,218	118,327
Opening funds			23,057,364	22,421,842	20,878,391	21,342,002
Income less grants	and expenses		(1,641,502)	(1,115,752)	(1,064,636)	(1,093,954)
Movement on capital funds			1,005,980	(427,699)	1,528,247	(547,061)
Closing funds			22,421,842	20,878,391	21,342,002	19,700,987
Total return in GCI	per annum		3.11Y0	(1.80)Y0	8.24Y0	(2.03)%

				2022	2021
			Notes	f	f
Income from:
Donations and legaoes				59,433	120,407
Investments
				94,371	150,782
Total income
				153,804	271,189
Investment management		costs		138,251	147,089
Charitable activities				915,768	914,335
Total resources	expended			1,054,019	1,061,424
Net gains/(losses)	on investments		11	525,548	904,634
Net movement	in funds			(374,667)	114,399
Fund balances at 1January 2022				16,586,609	16,472,210
Fund balances at 31December 2022				16,211,942	16,586,609

							2022		2021
						Notes
Fixed assets
Investments						12		16,170,832		16,643,785
Current assets
Debtors							50,933		111,907
Cash at bank and	in	hand					159,945		303,088
							210,878		414,995
Creditors:amounts		fallingdue		within	one year	14	(169,768)		(457,976)
Net current assets/(liabikties)								41,110		(42,981)
Total assets less	current		liabilities					16,211,942		16,600,804
Creditors: amounts		falling due		after	more
than one year						15				(14,195)
Net assets								16,211,942		16,586,609
Income funds
Unrestricted funds								16,211,942		16,586,609
								16,211,942		16,586,609

				2022
			Notes	6		6
Cash flows from operating	activities
Cash absorbed by operations			17		(1,196,145)		(748,550)
Investing activities
Withdrawals from investment fund				1,053,002		950,000
Net cash generated from	investing	activities			1,053,002		950,000
Net cash used in financing	activities
Net (decrease)/increase	in cash and		cash equivalents		(143,143)		201,450
Cash and cash equivalents	at beginning		ofyear		303,088		101,638
Cash and cash equivalents	at end of		year		159,945		303,088

3 Do	nations a	nd legacies
			Unrestricted	Unrestricted
			funds	funds
			2022	2021
			E	E
Donations	and gifts
In-Kind volunteer		support	8,500	8,500
Gift Aid			50,933
Donation	from Dr	David Potter		111907
Total				12 47

4	Investments
				Unrestricted	Unrestricted
				funds	funds
				2022	2021
				E	E
	Income from	fixed asset	investments	94,371	150,782
5	Investment	management	costs

			Unrestricted	Unrestricted
			funds	Funds
			2022	2021
			E	E
Goldman	Sachs		39,870	35,181
Delft Investments		Limited	98,381	111,908
			138,251	147,089

Forthe year	ended 31December 2022	Arts	Non-	Civil Society	Education	Total
			strategic
		2022	2022	2022	2022	2022
		E	E	E	E	E
Grant funding	ofactivities (see note 7)	90,007	60,000	331,374	299,742	781,123
Share ofsupport costs (see note 8)		26,209	9,425	51,987	47,024	134,645
		116,216	69,425	383,361	346,766	915,768
Forthe year	ended 31December 2021	Arts	Non-	Civil Society	Education	Total
			strategic
		2021	2021		2021	2021
		E	E		E	E
Grant funding	ofactivities (see note 7)	90,000		391,953	312,099	794,052
Share ofsupport costs (see note 8)		15,111		58,131	47,041	120,283
		105,111		450,084	359,140	914,335

7 Grants awarde	d
		Total	Tota	I
		2022	2021
Arts
Almeida Theatre			10,000
Donmar Warehouse		10,000
Hampstead Theatre		10,000
National Youth Jazz	Orchestra	10,000
Performa		30,007	30,000
Philharmonia		30,000	50,000
Sub-total- Arts		90,007	90,000
Non-Strategic
British Red Cross		10,000
Disasters Emergency	Committee	40,000
Listening Place		10,000
Sub-total- Non-strategic		60,000

7 Grants awarded	7 Grants awarded	(continuedj	(continuedj
								Total	Tota I
								2022	2021
Civil Society
Border Forensics									41,953
Corruption Watch South Africa								45,562
Death Penalty Project								45,000	35,000
Global LegalAction Network								40,000
Index on Censorship	(Writers &Scholars Educational						Trust)		40,000
Inkululeko South Africa		Media						65,812
Open Trust (openDemocracy)									40,000
Prisoners Abroad								35,000
Reprieve									50,000
Spotlight on Corruption									35,000
Transparency International			UK						50,000
Trust for the Bureau	of	Investigative		Journalism				100,000	100,000
Sub-total —Civil Society								331,374	391,953
Education
Access Project, the								20,000
Brilliant Club, the								35,000
Centre for Evaluation	and		Monitoring,		University	of	Durham		(5,079)
Challenge Partners								36,658
Engineering Development			Trust					35,800
Future Frontiers									35,000
Ikamvayouth								35,438	24,434
IntoUniversity									100,000
MygigCareer								25,000
Nuffield College, University			ofOxford						50,000
University of Cape Town								111,846	107,744
Sub-total - Education								299,742	312,099
TOTAL								781,123	794,052
							2022	2022	2021	2021
							Number	E	Number	E
Grants paid to	institutions						21	781,123	18	794,052

Support costs	Support costs
		Support costs	Governance	2022	Support costs	Governance	2021
			costs			costs
		E	6			E
Staff costs		85,316		85,316	83,245		83,245
Audit fees			14,760	14,760		12,332	12,332
Accountancy	services		6,090	6,090
Bank charges		119		119	482		482
Other expenses		1,921		1,921	2,549		2,549
Website, web	hosting and
grant system	costs	4,985		4,985	4,945		4,945
Foreign exchange
(gain)/loss		4,854		4,854	8,230		8,230
Volunteer in-kind costs		8,500		8,500	8,500		8,500
Legalfees		8,100		8,100
Analysed between
charitable activities
		113,795	20,850	134,645	107,951	12,332	120,283

erage monthly number of employees during the year	was:
	2022	2021
	Number	Number
Employment costs	2022	2021
	E	E
Wages and salaries	44,528	44,674
Social security costs	21,618	19,401
Other pension costs	19,170	19,170
	85,316	83,245

	Investments	gains / (losses)
12	Fixed asset	investments

Unrestricted	Unrestricted
funds	funds
2022	2021
6	6
525,548	904,634

			Listed	Cash and cash	Other	Total
			investments	equivalent	investments
	Cost or valuation
	At 1January 2022		6,219,886	10,445,805	(21,906)	16,643,785
	Dividends and interest		received	94,371		94,371
	Valuation changes		1,072,686	(602,096)	54,958	525,548
	Withdrawals from investment fund			(1,053,002)		(1,053,002)
	Investment manager's		fees	(39,870)		(39,870)
	At 31December 2022		7,292,572	8,845,208	33,052	16,170,832
	Carrying amount
	At 31December 2022		7,292,572	8,845,208	33,052	16,170,832
	At 31December 2021		6,219,886	10,445,805	(21,906)	16,643,785
13	Debtors
					2022	2021
	Amounts falling due within one year:				6	6
	Other debtors				50,933	111,907
14	Creditors: amounts	falling due within one year
					2022	2021
					6	6
	Grants payable				121,814	265,975
	Other creditors and	accruals			47,954	192,001
					169,768	457,976
15	Creditors: amounts	falling due after more than one year
					2022	2021
					6	6
	Grants payable					14,195

17	Cash generated from operations	Cash generated from operations		2022	2021
				6	6
	(Deficit) / surplus for the year			(374,667)	114,399
	Adjustments for:
	Investment income recognised	in statement	offinancial activities	(94,371)	(150,782)
	Investment management fees paid from portfolio			39,870	35,181
	Fair value (gains) and losses on	investments		(525,548)	(904,634)
	Movements in working capital:
	(Increase) / decrease in debtors			60,974	(20,307)
	Increase / (decrease) in creditors			(302,403)	177,593
	Cash absorbed by operations			(1,196,145)	(748,550)
18	Analysis ofchanges in net debt
The	Foundation had no debt during the year.