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||**Page**|
|---|---|
|Trustees and Professional Advisers|1|
|Trustees'report|2-4|
|Independent examiner's report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the financial statements|8-15|





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|**Charity number**|1083572|
|---|---|
|**Trustees**|W D Rothenberg|
||N C Lederer|
||Dr C Walford|
||K Andor|
|**Principal address**|16 Great Queen Street|
||Covent Garden|
||London|
||WC2B 5AH|
|**Accountants**|Blick Rothenberg Limited|
||Chartered Accountants|
||16 Great Queen Street|
||Covent Garden|
||London|
||WC2B 5AH|
|**Independent examiner**|Sharon Gravener FCCAACA|
||Scrutton Bland LLP|
||Chartered Accountants|
||Fitzroy House|
||Crown Street|
||Ipswich|
||Suffolk|
||IP1 3LG|
|**Bankers**|Barclays Bank Pic|
||Level 12|
||IChurchill Place|
||London|
||E145HP|
||Aldemore|
||6th Floor|
||The Monument Building|
||II Monument Street|
||London|
||EC3R 8AF|
|**Solicitors**|Payne Hicks Beach|
||10 New Square|
||London|
||WC2A 3QG|
|**Investment advisors**|Rathbone Investment Management Limited|
||8 Finsbury Circus|
||London|
||EC2M 7AZ|





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|||**Unrestricted fund**|**Unrestricted fund**|
|---|---|---|---|
|||**2021**|2020|
||**Notes**|£|£|
|**Income from:**||||
|Investment income|**2**|69,891.00|88,008.90|
|**Total**||69,891.00|88,008.90|
|**Raising funds**||||
|Investment management fees||(21,321.42)|(21,370.30)|
|**Charitable activities**|**3**|(171,450.00)|(226,805.00)|
|**Total**||(192,771.42)|(248,175.30)|
|**Net expenditure**||(122,880.42)|(160,166.40)|
|Gains/(losses) on investments||494,039.28|(233,606.47)|
|**Net movement in funds**||371,158.86|(393,772.87)|
|**Reconciliation of funds**||||
|Fund balances brought forward||2,894,142.03|3,287,914.90|
|**Fund balances carried forward**||**3,265,300.89**|2,894,142.03|



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|||**2021**|**2021**|2020|
|---|---|---|---|---|
||**Notes**|£|£ £|£|
|**Fixed assets**|||||
|Investments|6||3,234,908.20|2,876,338.09|
|**Current assets**|||||
|Debtors|**7**|6,558.20|7,148.18||
|Cash at bankand in hand||46,789.59|32,970.01||
|||53,347.79|40,118.19||
|**Creditors: amounts falling due within**|||||
|**one year**|**8**|(22,955.10)|(22,314.25)||
|Net current assets|||30,392.69|17,803.94|
|**Total assets less current liabilities**|||**3,265,300.89**|2,894,142.03|
|**Income funds**|||||
|Unrestricted funds|||3,265,300.89|2,894,142.03|
||||**3,265,300.89**|2,894,142.03|





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||**UK**|**Overseas**|**Total**|Total|
|---|---|---|---|---|
||**2021**|**2021**|**2021**|2020|
||£|£|£|£|
|Income from listed investments|54,517.85|11,715.77|66,233.62|83,556.43|
|Close Brothers Treasury interest|-|-|-|150.00|
|Aldermore interest|3,632.73|-|3,632.73|3,627.81|
|Bank and broker interest|24.65|-|24.65|674.66|
||**58,175.23**|**11,715.77**|**69,891.00**|88,008.90|



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|||**Total**|Total|
|---|---|---|---|
|||**2021**|2020|
|||£|£|
|Grants|(3.1)|131,500.00|190,000.00|
|Governance costs|(3.2)|39,950.00|36,805.00|
|||**171,450.00**|226,805.00|





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|**3 **|**Charitable activities**|||**(Continued)**|
|---|---|---|---|---|
||**3.1 Grants payable**||**Total**|Total|
||||2021|2020|
||||£|£|
||Grants during the yearcomprise:||||
||Afasic||**1**,**000.00**|1**,**000.00|
||Afasic - 2019|||1,500.00|
||Almeida Theatre Company||**1,000.00**|2**,**000.00|
||Alzheimer's Research UK||**1**,**000.00**|1,000.00|
||Amref Health Africa|||1,000.00|
||Anne FrankTrust UK||**1,000.00**|1**,**000.00|
||Anthony Nolan||2**,**000.00|2.000.00|
||Art in Healthcare|||1,000.00|
||Asthma International (2020: 2 payments)|||2,000.00|
||Awards for Young Musicians||**1,000.00**|1,000.00|
||The Barbican Centre Trust Limited|||2**,**000.00|
||Battersea Arts Centre||**1**,**000.00**|2,000.00|
||BIBIC||**1**,**000.00**|1,000.00|
||The Bobath Centre for Children with Cerebral|Palsy|3,000.00|3,000.00|
||Brain Injury Rehabilitation and Development||1,000.00|1,000.00|
||Brain Research Trust||1**,**000.00|1**,**000.00|
||Camden Arts Centre|||1,000.00|
||Cancer Fund|||1,000.00|
||Carers UK||2**,**000.00|2,000.00|
||Cavatina Chamber Music Trust|||3,000.00|
||Centrepoint Soho||4,000.00|3,000.00|
||The Chicken Shed Theatre Trust|||7,500.00|
||Children In Crisis||2,000.00|2,000.00|
||Children's Air Ambulance||2,000.00|2,000.00|
||The Children's Trust||2**,**000.00|2,000.00|
||Crohn's in Childhood Research Association||1,500.00|1,500.00|
||City ofBirmingham Symphony Orchestra||**1,000.00**|1,000.00|
||Cove Park (2020: 2 payments)|||6,500.00|
||The Cure Parkinson's Trust|||1,000.00|
||Cystic Fibrosis Trust||2**,**000.00|2**,**000.00|
||Dartington Hall Trust|||1,000.00|
||Diabetes UK||**1,000.00**|1**,**000.00|
||Dyspraxia Foundation||**1,000.00**|1,000.00|
||Balance carried forward||32,500.00|59,000.00|





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||**2021**|2020|
|---|---|---|
||£|£|
|Balance brought forward|**32,500.00**|59,000.00|
|English National Ballet|**3,000.00**|3.000.00|
|English National Opera|-|1,000.00|
|Epilepsy Research UK|**1,000.00**|1,000.00|
|Epilepsy Society|**1,000.00**|1,000.00|
|Friends of the Israel Opera Trust|-|1,000.00|
|Glyndebourne Productions Limited|**2,500.00**|2,500.00|
|The Great Ormond Street Hospital Children's Charity|**1,000.00**|1,000.00|
|Hampstead Theatre Limited|-|2,500.00|
|The Haven|**2,000.00**|2,000.00|
|Headway the Brain Injury Association|**1,000.00**|1,000.00|
|Helping Hands for Cancer Care|**1,000.00**|1,000.00|
|International Medical Corps UK|**2,500.00**|2,500.00|
|Jewish Museum London|-|3,000.00|
|Jnetics|**2,000.00**|2,000.00|
|Leukaemia UK|-|1,000.00|
|Listening Books|**1,000.00**|1,000.00|
|Live Music Now Limited|**1,500.00**|1,500.00|
|London Bach Society|-|1,000.00|
|London Music Masters|**1,000.00**|1,000.00|
|London Philharmonic Orchestra Limited|-|1,000.00|
|London Symphony Orchestra Limited|-|2,000.00|
|Lupus UK|**1,000.00**|1,000.00|
|LumphomaAction|-|1,000.00|
|Macmillan Cancer Support|**3,000.00**|2,000.00|
|Macular Disease Society|**1,000.00**|1,000.00|
|Manna UK|**1,500.00**|1,000.00|
|Manna UK-2019|-|500.00|
|Marie Curie Hampstead Hospice|**1,000.00**|1,000.00|
|Motor Neurone Disease Association|**3,000.00**|3,000.00|
|Multiple Sclerosis Society|**5,000.00**|5,000.00|
|Multiple Sclerosis Trust|**5,000.00**|5,000.00|
|Music in Hospitals|-|4,000.00|
|National Gallery Trust|**1,000.00**|1,000.00|
|National Youth Choir of Great Britain|**1,000.00**|1.000.00|
|The National Youth Orchestra of Great Britain|**1,000.00**|2.000.00|
|Noam Educational Trust|**2,000.00**|1,500.00|
|The Noam Primary School Limited|-|2,000.00|
|North London Hospice|**1,500.00**|1,500.00|
|Norwood Ravenswood|**1,000.00**|1,500.00|
|Opera Brava Limited|**2,000.00**|2.000.00|
|Ovacome|**1,000.00**|1,000.00|
|Balance carried forward|**84,000.00**|129,000.00|





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||**2021**|2020|
|---|---|---|
||£|£|
|Balance brought forward|**84,000.00**|129,000.00|
|Pancreatic Cancer UK|**3,000.00**|3,000.00|
|Philharmonia Orchestra|**1,000.00**|1,000.00|
|Polka Children's Theatre|-|2,500.00|
|Practical Action|**2,000.00**|2,000.00|
|Prostate Cancer UK|**2,000.00**|2,000.00|
|Purcell School for Young Musicians|**1,000.00**|1,000.00|
|Regent's Park Theatre Limited|-|2,000.00|
|The Respite Association|**2,000.00**|2,000.00|
|Revitalise|**1,500.00**|1,500.00|
|Rix-Thompson-Rothenberg Foundation|**3,000.00**|3,000.00|
|Royal Academy of Music|-|2,000.00|
|The Royal Free Cancerkin Breast Cancer Trust|**3,000.00**|3,000.00|
|The Royal National Institute of Blind People (2 payments|||
|(2020: 2 payments))|**5,000.00**|4,000.00|
|The Royal National Institute of Blind People - 2020|**(2,000.00)**|-|
|The Royal National Theatre|-|2,000.00|
|Royal Philharmonic Orchestra|**1,000.00**|1,000.00|
|Royal Philharmonic Society|**1,000.00**|1,000.00|
|Sadler's Wells Trust|-|1,000.00|
|Soho Theatre Company Limited|**1,000.00**|1,000.00|
|Stem4|**1,000.00**|-|
|Target Ovarian Cancer|**1,000.00**|1,000.00|
|Theatres Trust|-|1,000.00|
|UK Jewish Film Festival|**1,000.00**|1,000.00|
|University College Hospital Charitable Foundation|-|2,000.00|
|University College Hospital Charitable Foundation - 2020|**(1,000.00)**|-|
|University of the Arts|-|2,000.00|
|Versus Arthritis (Formerly Arthritis Care)|**1,000.00**|1,000.00|
|The Virtual Doctors|**1,000.00**|1,000.00|
|WACArts|-|1,000.00|
|Water Aid|**2,000.00**|2,000.00|
|The Wiener Library Institute of Contemporary History|**5,000.00**|5,000.00|
|The Wigmore Hall Trust|**5,000.00**|2,000.00|
|The Willow Foundation|**5,000.00**|5,000.00|
|Wiltons Music Hall|**1,000.00**|1,000.00|
|The Young Vic Company|**1,000.00**|1,000.00|
||**131,500.00**|190,000.00|





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||**Governance**|**Charitable**|**Total**|Total|
|---|---|---|---|---|
||**costs**|**activities**|||
|**Cost type**|||||
||**2021**|**2021**|**2021**|2020|
||£|£|£|£|
|Independent examiner's fees|3,480.00|.|3,480.00|3,480.00|
|Accountancy fees|31,500.00|-|31,500.00|27,600.00|
|Accountancy fees - 2020|4,920.00|-|4,920.00|5,700.00|
|Bank charges|50.00|-|50.00|25.00|
||**39,950.00**|-|**39,950.00**|36,805.00|



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|**Fixed asset investments**|||||
|---|---|---|---|---|
||**Listed**||||
||**investments**|**Cash**|**Total**|Total|
||**2021**|**2021**|**2021**|2020|
||£|£|£|£|
|Market Value at6 April 2020|2,476,728.53|399,609.56|2,876,338.09|3,277,037.08|
|Additions|500,627.72|-|500,627.72|609,037.28|
|Disposals|(602,215.12)|-|(602,215.12)|(629,482.50)|
|Cash movements|-|(33,881.77)|(33.881.77)|(146.647.30)|
|Gains/(losses) on investments|494,039.28|-|494,039.28|(233,606.47)|
|**Market Value at 5 April 2021**|**2,869,180.41**|**365,727.79**|**3,234,908.20**|2,876,338.09|





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||**UK**|**Overseas**|**Total**|Total|
|---|---|---|---|---|
||**2021**|**2021**|**2021**|2020|
||£|£|£|£|
|Equities|974,882.00|705,470.00|1,680,352.00|1,455,379.00|
|Fixed interest|572,626.20|-|572,626.20|530,224.09|
|Alternatives|-|-|-|378.00|
|Investment Trusts|558,654.00|-|558,654.00|429,838.00|
|Gold|57,548.00|-|57,548.00|60,909.00|
|Cash deposits|365,728.00|-|365,728.00|399,610.00|
||**2,529,438.20**|**705,470.00**|**3,234,908.20**|2,876,338.09|
|2020|2,281,945.09|594,393.00|2,876,338.09||



|||%||
|---|---|---|---|
||Apple Inc|5.6||
||JPM American Investment Trust Pic|6.6||
|**7**|**Debtors: amounts falling due within one year**|||
|||2021|2020|
|||£|£|
||Accrued income receivable|**6,558.20**|7,148.18|
|**8**|**Creditors: amounts falling due within one year**|||
|||**2021**|2020|
|||£|£|
||Rathbone Investment Management Limited|5,375.10|4,734.25|
||Blick Rothenberg Limited|14,100.00|14,100.00|
||Scrutton Bland LLP|3,480.00|3,480.00|
|||**22,955.10**|22,314.25|





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|**Movement in funds**|**Opening**|**Incoming**|**Resources**|**Net gains /**|**Closing**|
|---|---|---|---|---|---|
||**funds**|**resources**|**expended**|**(losses) on**|**funds**|
|||||**investments**||
||**2021**|**2021**|**2021**|**2021**|**2021**|
||£|£|£|£|£|
|Unrestricted funds|**2,894,142.03**|**69,891.00**|**(192,771.42)**|**494,039.28**|**3,265,300.89**|
||2020|2020|2020|2020|2020|
||£|£|£|£|£|
|2020|3,287,914.90|88,008.90|(248,175.30)|(233,606.47)|2,894,142.03|



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|**Analysis of netassets between funds**|||
|---|---|---|
||**Unrestricted**|Unrestricted|
||**funds**|funds|
||**2021**|2020|
||£|£|
|Fund balances at 5 April 2021 are represented by:|||
|Investments|3,234,908.20|2,876,338.09|
|Current assets|53,347.79|40,118.19|
|Current liabilities|(22,955.10)|(22,314.25)|
|**Total net assets at 5 April 2021**|**3,265,300.89 **|2,894,142.03|