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|Trustees||MrAnthony|Smith CBE||
|---|---|---|---|---|
|||Mr Alastair|Tulloch||
|||Prof Catriona
Kelly|||
|Secretary||Mrs D Forsdick|||
|Charity number||1086396|||
|Company|number|04189311|||
|Registered|office|4 Hill Street|||
|||Mayfair|||
|||London|||
|||W1J 5NE|||
|Auditor||Berg Kaprow Lewis LLP|||
|||35 Ballards|Lane||
|||London|||
|||N3 1XW|||
|Bankers||Santander|UK pic||
|||Bootle|||
|||Merseyside|||
|||L304GB|||
|Investment|advisors|Cazenove Capital Management||Limited|
|||12Moorgate|||
|||London|||
|||EC2R 6DA|||
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|||Page|
|---|---|---|
|Trustees' report||1-3|
|Statement
oftrustees'|responsibilities||
|Independent
auditor's|report|5-7|
|Statement offinancial|activities||
|Balance sheet|||
|Statement ofcash flows||10|
|Notes to the financial|statements|11-17|
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||||Unrestricted|Unrestricted|
|---|---|---|---|---|
||||funds|funds|
||||2021|2020|
|||Notes|6|6|
|Income from:|||||
|Donations
and legacies||2|564,000|564,000|
|Investment
income||3|538,219|688,466|
|Total income|||1,102,219|1,252,468|
|~Ex
IIIIIire on:|||||
|Raising funds||4|82,578|77,724|
|Charitable
activities||5|1,251,924|819,040|
|Total resources expended|||1,334,500|896,764|
|Net gains/(losses)|on investments|10|3,457,690|(2,209,884)|
|Net movement
in|funds||3,225,409|(1,854,182)|
|Fund balances at 1 April 2020|||20,393,099|22,247,281|
|Fund balances at|31 March 2021||23,618,508|20,393,099|
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||||2021|2020||
|---|---|---|---|---|---|
||||E|E||
|Fixed assets||||||
|Investments|||23,518,134|20,338,908||
|Current assets||||||
|Debtors||12|55,057|31,368||
|Cash at bank and in|hand||73,534|78,093||
|Creditors: amounts|falling due within||128,591|109,461||
|one year||13|(28,217)|(55,270)||
|Net current assets|||100,374||54,191|
|Total assets less current liabilities|||23,618,508|20,393,099||
|Income funds||||||
|Unrestricted
funds|||23,618,508|20,393,099||
||||23,618,508|20,393,099||
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|||||2021|||2020||
|---|---|---|---|---|---|---|---|---|
||||Notes|6||5|||
|Cash flows from operating|activities||||||||
|Net cash absorbed
by operating
activities|||15||(821,242)|||(333,334)|
|Investing activities|||||||||
|Purchase of investments
Proceeds on disposal of investments||||(5,513,576)
5,792,041||(3,603,038)
3,321,115|||
|Dividends
interest
&other income received||||538,219||688,466|||
|Net cash generated
from investing|||||||||
|activities|||||816,684|||406,543|
|Net cash used in financing|activities||||||||
|Net (decrease)/increase
in|cash and|cash|||||||
|equivalents|||||(4,558)|||73,209|
|Cash and cash equivalents|at beginning|ofyear|||78,093|||4,884|
|Cash and cash equivalents|at end of|year|||73,534|||78,093|
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||||||Total|Total|
|---|---|---|---|---|---|---|
||||||2021
f|2020
f|
||Grant received||during the year||564,000|564,000|
||Grants receivable for core activities||||||
||Khodorkovsky|Foundation|||564,000|564,000|
||||||564,000|564,000|
|3|Investment
income||||||
||||||Unrestricted|Unrestricted|
||||||funds|funds|
||||||2021|2020|
||||||f|f|
||Income from listed investments||||464,031|582,298|
||UK Bonds interest||||73,048|88,296|
||Ovemeas
fund||interest||1,048|16,436|
||Interest receivable||||92|1,436|
||||||538,219|688,466|
|4|Raising funds||||||
||||||2021f|2020f|
||Other fundraising||costs||2,880||
||Investment
management|||costs|79,696|77,724|
||||||82,576|77,724|
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||||2021
6|2020f|
|---|---|---|---|---|
|Student selection, secretarial||support and dinner costs|8,256|14,099|
|Bank charges|||60|65|
|Other expenses|||117|366|
|Secretarialsupport|||23,040|28,800|
|Website expenses|||132|388|
||||31,605|43,718|
|Grant funding
ofactivities (see note 6)|||1,203,019|765,866|
|Share ofgovernance|costs (see note 7)||17,300|9,456|
||||1,251,924|819,040|
|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|||||||f|f|
|Grants to|institutions:|||||||
|University|ofOxford|||||1,203,019|765,866|
|Support costs||||||||
|||Support|Governance|2021|Support|Governance|2020|
|||costs|costs||costs|costs||
||||6|6|6|6||
|Audit fees|||4,500|4,500||3,300|3,300|
|Accountancy|||9,920|9,920||6,156|6 156|
|Legal and|professional||2,880|2,880||||
||||17,300|17,300||9,456|9,456|
|Analysed|between|||||||
|Charitable|activities||17,300|17,300||9,456|9,456|
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||||Total|Total|
|---|---|---|---|---|
||||2021|2020|
||||6|8|
|Revaluation
Gain/(loss)|of
on|investments
sale ofinvestments|2,837,776
619,914|(2,027, 102)
(182,782)|
||||3,457,690|(2,209,884)|
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|12|Debtors|||||||||
|---|---|---|---|---|---|---|---|---|---|
||||||||2021||2020|
||Amounts
falling due within|one year:|||||6||6|
||Other debtors||||||55,057||31,368|
|13|Cmditors: amounts
falling due within one year|||||||||
||||||||2021||2020|
||||||||8||6|
||Other creditors||||||1,500||30,798|
||Accruals||||||26,717||24,472|
||||||||28,217||55,270|
|14|Related party transactions|||||||||
||There
were
no disclosable|related||party|transactions|during|the year (2020- none)
other|than|those|
||disclosed
in note 8.|||||||||
|15|Cash generated
from operations||||||2021||2020|
||||||||f|||
||Surplus/(deficit)
for the year||||||3,225,409|(1,854,182)||
||Adjustments
for.|||||||||
||Investment
income recognised||in statement||offinancial|activities|(538,219)|(688,466)||
||(Gain)/loss
on disposal ofinvestments||||||(619,914)|182,782||
||Fair value gains and losses on||investments||||(2,837,776)|2,027,102||
||Movements
in working
capital:|||||||||
||(Increase)
in debtors||||||(23,689)|(26,372)||
||(Decrease)/increase
in creditors||||||(27,053)||25,802|
||Cash absorbed
by operations||||||(821,242)|(333,334)||
|16|Analysis ofchanges
in net funds|||||||||
||The charity had no debt during||the year.|||||||