2022-12-31-accounts - Rothschild Foundation (Hanadiv) Europe

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`Constitution`	`RothschildFoundation(Hanadiv)Europe`	`RothschildFoundation(Hanadiv)Europe`	`RothschildFoundation(Hanadiv)Europe`	`RothschildFoundation(Hanadiv)Europe`	`isa companylimitedbyguarantee`	`isa companylimitedbyguarantee`	`isa companylimitedbyguarantee`	`isa companylimitedbyguarantee`
	`and` `aregistered` `charity`		`governed`	`by`	`itsmemorandum`	`and`	`articles`	`of`
	`association.Itis` `aregisteredcharity,No.1083262.Company`					`No.`	`03948898.`
`DirectorsandTrustees`	`Thedirectorsofthe`	`charitablecompany(“theFoundation’)areits`					`trusteesfor`
	`thepurposeofcharitylaw`		`andthroughout`		`thisreportarecollectivelyreferred`
	`toasthetrustees.As`	`setoutinthearticles`			`ofassociationthe`	`chairmanofthe`
	`boardoftrusteesisappointedbythetrustees.Themembershavethepower`							`to`
	`appointanyoftheir`	`number`	`tobea trustee.`
	`Thetrusteeswhoservedduringtheyearwere:`
	`LordRothschildOM`	`GBE`	`(President)`
	`SirBradleyFried(Chairman)`
	`SirVictorBlank`
	`MmeBéatriceRosenberg`
	`DrDavidLandau`
	`AdamKarni-Cohen`
	`TheHonourableBethRothschild`
	`NicolaCobbold`
	`NicolaLoftus`
	`BenAvigdori`
`CompanySecretary`	`LMasterton`
`ChiefExecutive`	`SBerkovic`
`RegisteredOffice`	`14StJames’sPlace`
	`London`
	`SWIAINP`
`Auditors`	`SafferyChampness` `71QueenVictoriaStreet`
	`LondonEC4V4BE`
`Bankers`	`TheBankofNewYorkMellon`
	`RueMontoyer46`
	`B-1000Brussels`
	`Belgium`
	`Coutts& Company`
	`440Strand`
	`LondonWC2R0QS`
`Solicitors`	`Farrer& CoLLP`
	`66LincolnsInnFields`
	`LondonWC2A3LH`

8 September 2023

		`Expendable`	`Restricted`	`Unrestricted`
		`endowment`	`income`	`income`	`Yearended`		`Yearended`
		`fund`	`fund`	`fund`	`31-Dec`		`31-Dec`
		`2022`	`2022`	`2022`	`2022`		`2021`
	`Note`	`£`	`£`	`£`	`£`		`£`
`Incomefrom:`
`Investments`		`-`	`-`	`193,652`	`193,652`		`486,050`
`Donations`		`-`	`810,376`	`-`	`810,376`		`-`
`Totalincome`		`-`	`810,376`	`193,652`	`1,004,028`		`486,050`
`Expenditureon:`
`Raisingfunds`
`Investmentmanagementcosts`		`792,423`	`-`	`-`	`792,423`		`830,281`
`Charitableactivity`
`AcademicJewishStudiesProgramme` `HeritageandCultureProgramme` `EducationandResearch` `NationalLibraryofIsraelandother` `CommunityWelfare`	`BRASS`	`-` `-` `-` `-` `-`	`-` `810,376` `-` `-` `-`	`1,374,549` `2,930,575` `1,017,551` `620,253` `1,382,327`	`1,374,549` `3,740,951` `1,017,551` `620,253` `1,382,327`		`1,113,260` `2,376,662` `1,619,803` `665,727` `1,011,576`
`Totalresourcesexpended`		`792,423`	`810,376`	`7,325,255`	`8,928,054`		`7,617,309`
`Netoutgoingresourcesbefore`
`investmentmovement`		`(792,423)`	`-`	`(7,131,603)`	`(7,924,026)`		`(7,131,259)`
`Netlossesoninvestmentassets`
`Realisedandunrealisedinvestment`
`losses`		`(4,643,670)`	`-`	`-`	`(4,643,670)`		`18,956,959`
`Netincomeandexpenditure`		`(5,436,093)`	`-`	`(7,131,603)`	`(12,567,696)`		`11,825,700`
`Transfersbetweenfunds`	`1.b.`	`(7,131,603)`	`-`	`7,131,603`		`-`	`-`
`Netmovementinfunds`		`(12,576,696)`		`-`	`(12,576,696)`		`11,825,700`
`Fundbalancesbroughtforward`		`147,044,082`	`-`	`-`	`147,044,082`		`135,218,382`
`Fundbalancescarriedforward`		`134,476,386`	`-`	`-~`	`134,476,386`		`147,044,082`

		`31-Dec`	`31-Dec`
	`Notes`	`2022`	`2021`
		`£`	`£`
`FixedAssets`
`Tangibleassets`	`8.`	`2,528`	`5,371`
`Investments`
`Quotedsecuritiesandunquotedinvestments`		`133,014,871`	`143,948,775`
`Derivativefinancialinstruments`		`571,700`	`(225,367)`
`Salesforfuturesettlement`		`-`	`1,503,329`
`Purchasesforfuturesettlement`		`-`	`979,161`
`Cashbalances`		`5,289,051`	`5,502,287`
	`9.`	`138,875,622`	`151,708,185`
`Currentassets`
`Prepayments`		`126,521`	`96,962`
`Cashatbank`		`24,044`	`46,552`
		`150,565`	`143,514`
`Creditors:amountsfallingduewithinoneyear`
`Othercreditors`		`3,965`	`2,962`
`Grantspayablewithinoneyear`		`3,633,289`	`3,556,224`
`Accruals`		`113,003`	`156,542`
		`3,750,257`	`3,715,728`
`Netcurrentliabilities`		`(3,599,692)`	`(3,572,214)`
`Creditors:fallingdueinmorethanoneyear`
`Grantspayable`	`If.`	`(802,072)`	`(1,097,260)`
`Nétassets`		`134,476,386`	`147,044,082`
`Funds`
`Expendableendowmentfund— historicalcost`	`12.`	`74,968,273`	`79,352,137`
`Expendableendowmentfund— revaluation`		`59,508,113`	`67,691,945`
`Restrictedincomefund`		`-`	`-`
`Unrestrictedincomefund`		`-`	`-`
`Totalfunds`	`13.`	`134,476,386`	`147,044,082`

	`2022`	`2021`
	`£`	`€`
`Netcashusedinoperatingactivities`	`(8,256,002)`	`(9,671,579)`
`Cashflowsfrominvestingactivities:`
`Purchaseofinvestments`	`(10,052,039)`	`(13,777,430)`
`Proceedsfromsaleofinvestments`	`18,129,082`	`26,431,386`
`Proceedsfromforwardcurrencycontracts`	`(201,710)`	`39,690`
`Incomefrominvestmentsincash`	`144,925`	`117`
`Netcashprovidedbyinvestingactivities`	`8,020,258`	`12,693,763`
`Changeincashandcashequivalentsintheyear`	`(235,744)`	`3,022,184`
`Cashandcashequivalentsat1 January`	`5,548,839`	`2,526,655`
`Cashandcashequivalentsat31December`	`5,313,095`	`5,548,839`
`Notestothecashflowstatement`
`Analysisofcashandcashequivalents`	`2022`	`2021`
	`£`	`£`
`Cashwithininvestmentportfolio`	`5,289,051`	`5,502,287`
`Cashatbank`	`24,044`	`46,552`
	`5,313,095`	`5,548,839`
`Reconciliationofchangesinresourcesto`	`2022`	`2021`
`netcashusedinoperatingactivities`	`£`	`£`
`Netloss(Page14)`	`(12,567,696)`	`11,825,700`
`Lossesoninvestments`	`4,643,670`	`(18,956,959)`
`Incomefrominvestmentsin.cash`	`(144,925)`	`(117)`
`Depreciationcharges`	`2,843`	`3,113`
`Realisedexchange(loss)`	`(2,382,166)`	`(585,635)`
`Decreaseinsalesforfuturesettlement`	`1,503,329`	`(1,503,329)`
`Decreaseinpurchasesforfuturesettlement`	`979,161`	`(979,161)`
`(Increase)indebtors`	`(29,559)`	`(23,429)`
`(Decrease)increditors`	`(260,659)`	`548,238`
`Netcash usedinoperatingactivities`	`(8,526,002)`	`(9,671,579)`

	`Expendable`	`—_Unrestricted`
	`endowment`	`income`
	`fund`	`fund`	`Total`
	`2021`	`2021`	`2021`
	`£`	`£`	`£`
`Incomefrom:`
`Incomefrominvestments`	`-`	`486,050`	`486,050`
`Totalincome`	`-`	`486,050`	`486,050`
`Expenditureon:`
`Raisingfunds`
`Investmentmanagementcosts`	`830,281`	`-`	`830,281`
`Charitableactivity`
`UnrestrictedFund`
`AcademicJewishStudiesProgramme`	`-`	`1,113,260`	`1,113,260`
`HeritageandCultureProgramme`	`-`	`2,376,662`	`2,376,662`
`EducationandResearch`	`-`	`1,619,803`	`1,619,803`
`NationalLibraryofIsraelandother`	`-`	`665,727`	`665,727`
`CommunityWelfare`	`-`	`1,011,576`	`1,011,576`
`Totalresourcesexpended`	`830,281`	`6,787,028`	`7,617,309`
`Netoutgoingresourcesbeforeinvestment`	`(830,281)`	`(6,300,978)`	`(7,131,259)`
`Netgainsoninvestmentassets`
`Realisedandunrealisedinvestmentgains`	`18,956,959`	`-`	`18,956,959`
`Netincomeandexpenditure`	`18,126,678`	`(6,300,978)`	`11,825,700`
`Transfersbetweenfunds`	`(6,300,978)`	`6,300,978`		`-`
`Netmovementinfunds`	`11,825,700`	`-`	`11,825,700`
`Fundbalancesbrought forward`	`135,218,382`	`-`	`135,218,382`
`Fundbalancescarriedforward`	`147,044,082`	`-`	`147,044,082`

`3.GrantsandDonations`
	`2022`	`2021`
`AcademicJewishStudiesProgramme`	`£`	`£`
`EuropeanAssociationfor` `JewishStudies` `WorldUnionofJewishStudies,HebrewUniofJerusalem` `UniversityofAmsterdam`	`140,500` `132,000` `115,500`	`-` `-` `70,000`
`EcolePratiquedesHautesEtudes,Sorbonne` `UniversityofLondon`	`110,500` `79,020`	`-` `69,989`
`UniversityofCambridge`	`70,000`	`-`
`UniversityCollegeLondon` `ComplutenseUniversityofMadrid`	`70,000` `68,544`	`-` `-`
`SapienzaUniversitadiRoma`	`65,726`	`-`
`UniversityofBern` `AlexandruloanCuzaUniversity`	`60,792` `51,000`	`-` `-`
`OxfordCentreforHebrewandJewishStudies`	`7`	`115,386`
`UniversityofOxford` `UniversityofTiibingen` `UniversityofWroclaw` `UniversityofVienna` `CharlesUniversity,Prague` `UniversitadiBologna` `Individualgrantsoflessthan£50,000` `Earliergrantspart-returnedorcancelled`	`-` `-` `.` `-` `-` `-` `251,473` `(10,746)` `1,204,309`	`69,356` `86,970` `74,210` `68,352` `58,650` `50,000` `340,429` `(27,217)` `976,125`
`JewishHeritageProgramme` `ComunitaEbraicadiVenezia` `TheNationalHolocaustCentreandMuseum` `BodleianLibraries,UniversityofOxford` `IsraelitischeGemeindeBasel` `UnionedelleComunitaEbraicheItaliane` `BritishLibrary` `AssociationOfEuropeanJewishMuseums` `MuseoEbraicoVenezia` `GhettoFighters'HouseMuseum` `JuidischesMuseumderSchweiz` `Tudasmenedzsmentért,TuddsalapiTechnolégiaértA lapitvany` `BradiansTrust` `CentrointernazionaleLeoLeviperlaricerca,laconservazionee la`	`797,344` `141,600` `133,334` `120,000` `117,612` `111,615` `105,000` `100,000` `93,000` `75,000` `73,000` `72,338` `72,000`	`-` `-` `133,334` `-` `-` `-` `-` `100,000` `-` `-` `-` `-` `-`
`valorizzazionedelpatrimoniomusicale`
`Stichting` `JoodsMaatschappelijkWerk` `IMW)` `JewishMuseuminPrague` `SephardiVoicesUK` `MartynasMazvydasNationalLibraryofLithuania`	`71,228` `69,650` `68,106` `59,372`	`-` `-` `-` `-`
`GrazMuseum`	`58,650`	`-`

`3.Grantsanddonations(continued)`	`2022`	`2021`
	`£`	`£`
`Centrenationald'artetdecultureGeorgesPompidou`	`54,838`	`-`
`AssociationofJewishLibraries`	`54,000`	`-`
`TaubeDepartmentofJewishStudies,UniversityofWroclaw`	`53,784`	`-`
`JewishHistoricalMuseum`	`52,400`	`-`
`YadVashem`	`-`	`150,000`
`Peterhouse,UniversityofCambridge`	`-`	`137,666`
`CentreiiationaldelaRecherchescientifique`	`-`	`105,000`
`WienerHolocaustLibrary,London`	`-`	`93,783`
`TyneandWearArchivesandMuseums`	`-`	`80,000`
`FrinkischesFreilandmuseumdesBezirksMittelfranken`	`-`	`75,000`
`NationalMonumentHerinneringscentrumKampWesterbork`	`-`	`73,000`
`InstituteofSocialRelations,EotvosLorandUniversityofSciences`	`-`	`72,040`
`POLINMuseumoftheHistoryofPolishJews`	`-`	`68,702`
`JewishHeritageFoundationMenorah`	`-`	`68,040`
`JewishTheologicalSeminary,UniversityofJewishStudies`	`-`	`67,170`
`UnionedelleComunitaEbraicheItaliane`	`-`	`60,480`
`JewishMuseumofWestphalia`	`-`	`57,404`
`BoardofDeputiesCharitable` `Foundation`	`-`	`55,550`
`TrinityCollegeDublin`	`-`	`53,643`
`TheJewishMuseuminStockholm`	`-`	`50,000`
`Individualgrantsoflessthan£50,000`	`547,754`	`407,980`
`Earliergrantspart-returnedorcancelled`	`(1,176)`	`(38,455)`
	`3,100,448`	`1,870,337`
`JewishEducation`
`EducatingforImpact` `\|TheCentreforEducationalTechnology`	`185,171`	`180,167`
`JLC- PartnershipforJewishSchools`	`95,500`	`-`
`UnionofJewishStudentsoftheUKandIreland`	`90,000`	`-`
`JewishBookCouncil`	`75,000`	`-`
`Sadeh`	`50,000`	`-`
`MoisheHouse`	`-`	`155,624`
`LondonSchoolofJewishStudies`	`-`	`129,300`
`YadLayeledFrance`	`-`	`120,000`
`FundacjaCentrum TaubegoOdnowyZyciaZydowskiegow Polsce`	`-`	`94,360`
`Kisharon`	`-`	`90,000`
`SCoJeC,theScottishCouncilofJewishCommunities`	`-`	`59,000`
`JewishTheologicalSeminary,UniversityofJewishStudies`	`-`	`57,000`
`Limmud`	`-`	`50,000`
`Individualgrantsoflessthan£50,000`	`171,893`	`328,000`
`Earliergrantspart-returnedorcancelled`	`(58,344)`	`(13)`
	`609,220`	`1,263,438`

`3.Grantsanddonations(continued)`	`2022`	`2021`
`NationalLibraryofIsraelandothergrants`
`GesherL’Europa[ABridgetoEurope]`	`550,000`	`590,000`
	`550,000`	`590,000`
`CommunityWelfare` `WorldJewishRelief`	`250,000`	`-`
`InstituteforJewishPolicyResearch`	`190,000`	`207,000`
`PillarFoundation`	`126,732`	`109,657`
`Jw3`	`100,000`	`-`
`SocialFinance`	`80,300`	`-`
`RabbiSacksLegacyTrust`	`50,000`	`-`
`JewishCare`	`-`	`100,000`
`JDC`	`36,917`	`100,000`
`EducatingforImpact`	`-`	`100,000`
`TheJewishAssociationforMentalIllness`	`-`	`150,000`
`CommunitySecurityTrust`	`-`	`75,000`
`JLC`	`-`	`50,000`
`Individualgrantsoflessthan£50,000` `Earliergrantspart-returnedorcancelled`	`395,600` `(3,792)`	`54,500` `(49,650)`
	`1,225,757`	`896,507`
`Totalgrants`	`6,689,734`	`5,596,407`

`4.`	`ResourcesExpended`
`a)`	`2022`
					`Support&`
			`Other`	`Investment`	`Admin`	`Governance`	`Total`
		`Grants`	`Activities`	`Costs`	`Costs`	`Costs`	`2022`
		`£`	`£`	`£`	`£`	`£`	`£`
	`InvestmentManagement`	`-`	`-`	`742,863`	`49,560`	`-`	`792,423`
	`CharitableExpenditure`
	`UnrestrictedFund`
	`AcademicJewishStudies`	`1,204,309`	`14,550`	`-`	`152,525`	`3,165`	`1,374,549`
	`CultureandHeritage`	`2,303,104`	`205,226`	`-`	`413,663`	`8,582`	`2,930,575`
	`EducationandResearch`	`609,220`	`293,077`	`-`	`112,911`	`2,343`	`1,017,551`
	`NationalLibraryofIsrael`	`550,000`	`-`	`-`	`68,825`	`1,428`	`620,253`
	`CommunityWelfare`	`1,225,757`	`-`	`-`	`153,388`	`3,182`	`1,382,327`
	`RestrictedFund` `CultureandHeritage`	`797,344`	`-`	`-`	`13,032`	`-`	`810,376`
		`6,689,734`	`512,853`	`742,863`	`963,904`	`18,700`	`8,928,054`
		`Note3.`
	`ResourcesExpended`
`b)`	`2021`
					`Support&`
			`Other`	`Investment`	`Admin`	`Governance`	`Total`
		`Grants`	`Activities`	`Costs`	`Costs`	`Costs`	`2021`
		`£`	`£`	`£`	`£`	`£`	`£`
	`InvestmentManagement`	`-`	`-`	`800,755`	`29,526`	`-`	`830,281`
	`CharitableExpenditure`
	`UnrestrictedFund`
	`AcademicJewishStudies`	`976,125`	`10,500`	`-`	`109,298`	`17,337`	`1,113,260`
	`CultureandHeritage`	`1,870,337`	`235,975`	`-`	`233,337`	`37,013`	`2,376,662`
	`EducationandResearch`	`1,263,438`	`172,109`	`-`	`159,030`	`25,226`	`1,619,803`
	`NationalLibraryofIsrael`	`590,000`	`-`	`-`	`65,360`	`10,367`	`665,727`
	`CommunityWelfare`	`896,507`	`-`	`-`	`99,315`	`15,754`	`1,011,576`
		`5,596,407`	`418,584`	`800,755`	`695,866`	`105,697`	`7,617,309`
		`Note3.`

`5.`	`Administrationcostsinclude:`	`2022`	`2021`
		`£`	`£`
	`Auditors’remuneration(incl.` `VAT)`	`18,700`	`17,120`
	`Depreciation`	`2,843`	`3,113`
		`2022`	`2021`
`6.`	`StaffCosts` `Wagesandsalaries` `NationalInsurance`	`£` `394,519` `54,141`	`£` `355,964` `46,379`
	`Pensions` `LifeInsurance`	`58,602` `5,591` `512,853`	`49,909` `4,823` `457,075`

`Thenumberofemployeeswhoseemolumentsasdefinedfortaxationpurposesamountedtoover£60,000intheyearwasas`	`Thenumberofemployeeswhoseemolumentsasdefinedfortaxationpurposesamountedtoover£60,000intheyearwasas`	`Thenumberofemployeeswhoseemolumentsasdefinedfortaxationpurposesamountedtoover£60,000intheyearwasas`
`follows:`	`Number`	`Number`
`£150,001- £160,000`	`1`	`1`
	`2022`	`2021`
	`£`	`£`
`Totalbenefitspaidtokeymanagementpersonnel`	`187,752`	`179,858`

	`Number`	`Number`
`Charitableactivities` `Managementandadministration`	`5` `1`	`5` `i-`

`Office`	`furniture,equipmentandmotorvehiclesatcost`
`At1st`	`January2022`
`At31st`	`December2022`
`Depreciation`
`At1st`	`January2022`
`Charge`	`fortheyear`
`At.31st`	`December2022`
`Netbookvalueat31December2022`
`Netbookvalueat31December2021`

`Investments`	`31-Dec`	`31-Dec`
	`2022`	`2021`
`Quotedsecurities`	`£`	`£`
`Marketvalueasatstartofyear`	`1,490,925`	`1,444,584`
`Investmentpurchases`	`-`	`878,646`
`Disposalproceeds`	`(1,272,654)`	`(1,006,392)`
`Netinvestmentgains`	`(143,667)`	`174,087`
`Marketvalueasatendofyear`	`74,603`	`1,490,925`
`Unquotedinvestments`
`Valuationatstartofyear`	`43,222,067`	`24,036,916`
`Investmentpurchases`	`10,052,039`	`12,898,784`
`Investmentdistributions`	`(5,856,428)`	`(8,074,994)`
`Trustees’revaluation`	`1,551,723`	`14,361,362`
`Valuationasatendofyear`	`48,969,401`	`43,222,068`
`Multi-assetfunds`
`Valuationatstartofyear`	`99,235,782`	`111,142,073`
`Investmentdistributions`	`(11,000,000)`	`(17,350,000)`
`Trustees’revaluation`	`(4,264,915)`	`5,443,709`
`Valuationasatendofyear`	`83,970,867`	`99,235,782`
`Quotedsecuritiesandunquotedinvestments`	`49,044,004`	`44,712,993`
`Multi-assetfunds`	`83,970,867`	`99,235,782`
`Derivativefinancialinstruments`	`571,700`	`(225,367)`
`Salesforfuturesettlement`	`-`	`1,503,329`
`Purchasesforfuturesettlement`	`-`	`979,161`
`Cashandequivalents`	`5,289,051`	`5,502,287`
`Totalinvestments`	`138,875,622`	`151,708,185`
`Historicalcost`	`___79,367,509` `eed`	`84,016,240`

	`MarketValue`		`Investmentincome`
	`2022`	`2021`	`2022`	`2021`
`Overseasinvestments`	`£`	`£`	`£`	`£`
`Quotedsecurities`	`8,632`	`1,281,556`	`-`	`113`
`Unquotedinvestments`	`43,588,655`	`42,808,910`	`155,326`	`485,820`
`Multi-assetfunds`	`83,970,867`	`99,235,782`
`Derivativefinancialinstruments`	`571,700`	`(225,367)`
`Salesforfuturesettlement`	`-`	`1,503,329`
`Purchasesforfuturesettlement`	`-`	`979,161`
`Cashandequivalents`	`5,289,051`	`5,502,287`	`26,074`	`117`
	`138,428,905`	`151,085,658`	`181,400`	`486,050`
`UKquotedinvestments`	`65,971`	`209,369`
`UKunquotedinvestments`	`380,746`	`413,158`	`12,252`	`-`
	`138,875,622`	`151,708,185`	`193,652`	`486,050`
`Totalincomefrominvestments`			`193,652`	`486,050`

	`2022`	`2022`	`2021`	`2021`
	`£`	`%`	`£`	`%`
`WHAMEndowmentFund`	`83,970,869`	`60.46%`	`99,235,782`	`65.41%`

		`2022`	`2021`
		`£`	`£`
	`Grantspayable`
	`Within1-2years`	`628,622`	`959,592`
	`Within2-5years`	`173,450`	`137,668`
		`802,072`	`1,097,260`
`12.`	`Reconciliationofhistoricalcostassetsandliabilities`
		`2022`	`2021`
		`£`	`£`
	`Fixedassets`	`2,528`	`5,371`
	`Historicalcostofinvestments`	`79,367,509`	`84,016,240`
	`Netcurrentliabilities`	`(3,599,692)`	`(3,572,214)`
	`Creditorsfallingdueinmorethanoneyear`	`(802,072)_`	`(1,097,260)`
		`74,968,273`	`79,352,137`
	`Expendableendowmentfund— historicalcost`	`74,968,273`	`79,352,137`

`13.`	`AllocationofAssets`
`a)`	`2022`
		`Expendable`	`Unrestricted`
		`endowment`	`income`
		`fund`	`fund`	`Total`
		`2022`	`2022`	`2022`
		`£`	`£`	`£`
	`Fixedassets`	`-`	`2,528`	`2,528`
	`Investments`	`138,875,622`	`-`	`138,875,622`
	`Bankbalances`	`-`	`24,044`	`24,044`
	`Othercurrentassets`	`-`	`126,521`	`126,521`
	`Liabilities`	`-`	`(4,552,329)`	`(4,552,329)`
	`Interfundbalance`	`(4,399,236)`	`4,399,236`	`-`
		`134,476,386`	`-`	`134,476,386`
`b)`	`2021`
		`Expendable`	`—_-Unrestricted`
		`endowment`	`income`
		`fund`	`fund`	`Total`
		`2021`	`2021`	`2021`
		`£`	`£`	`£`
	`Fixedassets`	`-`	`5,371`	`5,371`
	`Investments`	`151,708,185`	`-`	`151,708,185`
	`Bankbalances`	`-`	`46,552`	`46,552`
	`Othercurrentassets`	`-`	`96,962`	`96,962`
	`Liabilities`	`-`	`(4,812,988)`	`(4,812,988)`
	`Interfundbalance`	`(4,664,103)`	`4,664,103`	`-`
		`147,044,082`	`-`	`147,044,082`