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2023-04-05-accounts
|
Page |
| Legal and administrative information |
1 |
| Trustees' report |
2 |
| Independent examiner's report |
6 |
| Statement of fnancial activities |
8 |
| B a l a n c e s h e e t |
9 |
| Statement of Cash Flows |
1 0 |
| N o t e s t o t h e f n a n c i a l s t a t e m e n t s |
1 1 |
| Registered Charity No. |
1 0 8 8 6 4 2 |
| T r u s t e e s |
Lord Browne of Madingley (Founder Trustee) |
|
Chris Farmer (Appointed 4February 2023) |
|
Lord Hennessy of Nympsfeld (Resigned 4February 2023) |
|
Angela Hunter (Appointed 4February 2023) |
|
Dr Hayaatun Sillem (Appointed 4February 2023) |
|
Michael Lynas |
|
A n t o n i a R o m e o |
|
Farrer &Co Trust Corporation Limited |
| Principal Address |
F a r r e r & C o |
|
65-66 Lincoln's Inn Fields |
|
L o n d o n |
|
W C 2 A 3 L H |
| B a n k e r s |
C H o a r e a n d C o |
|
37 Fleet Street |
|
L o n d o n |
|
EC4P 4DQ |
| Investment Managers |
Stanhope Capital LLP |
|
35 Portman Square |
|
L o n d o n |
|
W I H 6 L R |
| Independent Examiner |
Cara Turtington FCA DChA |
|
Saffery LLP |
|
71 Queen Victoria Street |
|
L o n d o n |
|
EC4V 4BE |
| S o l i c i t o r s |
Farrer and Co LLP |
|
66 Lincoln's Inn Fields |
|
L o n d o n |
|
W C 2 A 3 L H |
|
|
|
U n r e s t r i c t e d f u n d s |
|
N o t e s |
2 0 2 3 |
2 0 2 2 |
|
|
£ |
£ |
| I n c o m e f r o m |
|
|
|
| D o n a t i o n s |
1 |
125,000 |
377,250 |
| I n v e s t m e n t i n c o m e |
|
10,281 |
4,397 |
| To t a l i n c o m e |
|
135,281 |
381,647 |
| Expenditure on |
|
|
|
| C h a r i t a b l e a c t i v i t i e s |
2 |
197,228 |
2,802,672 |
| Total expenditure |
|
197,228 |
2,802,672 |
| Realised (losses) on investments |
|
|
|
| Unrealised (losses) on investments |
|
(7,597) |
(7,639) |
| Net income/(expenditure) and movement in funds |
|
(69,544) |
(2,428,664) |
| Fund balance brought forward at 6April 2022 |
|
1,021,620 |
3,450,284 |
| Fund balance carried forward at 5April 2023 |
|
952,076 |
1,021,620 |
| N o t e |
N o t e |
2 0 2 3 |
|
2 0 2 2 |
|
|
£ |
|
£ |
| Cash fows from operating activities |
|
|
|
|
Net cash provided by /(used in)
operating activities |
a |
(5,728) |
|
(2,250,048) |
| Cash fows from investing activities |
|
|
|
|
| Investment income received |
|
10,281 |
|
4,397 |
| Investment purchases |
|
(92,624) |
|
|
| Proceeds from disposals of investments |
|
|
|
|
| Change in cash and cash equivalents in the period |
|
(88,071) |
|
(2,245,651) |
| Cash and cash equivalents at the beginning of the period |
|
741,703 |
|
2,987,354 |
| Cash and cash equivalents at the end of the period |
|
6 5 3 . 6 3 2 |
|
7 4 1 . 7 0 3 |
| a) Reconciliation of net income /(expenditure) |
|
|
|
|
| to net cash fow from operating activities |
|
|
|
|
|
|
2 0 2 3 |
|
2 0 2 2 |
| Net income /(expenditure) for the reporting period |
|
£ |
|
£ |
| (as per the statement of fnancial activities) |
|
(2,428,664) |
|
(2,428,664) |
| I n v e s t m e n t i n c o m e |
|
(4,397) |
|
(4,397) |
| Loss/ (Gain) on investments |
|
7,639 |
|
7,639 |
| Decrease/{Increase) in debtors |
|
675,000 |
|
675,000 |
| (Decrease)/lncrease in creditors |
|
(499,626) |
|
(499,626) |
| Net cash provided by /(used in) operating activities |
|
(2,250,048) |
|
2,266,980 |
| b) Reconciliation of net debt |
|
|
|
|
|
|
|
O t h e r |
|
|
As at 6April
2 0 2 2 |
Cash fows |
non-cash |
As at 5April
2 0 2 3 |
|
|
|
changes |
|
| Cash and cash equivalents |
|
|
|
|
| Cash at bank |
614,700 |
(3,694) |
|
611,006 |
| Cash held by investment managers |
127,003 |
(84,377) |
|
42,626 |
| To t a l |
7 4 1 . 7 0 3 |
(88,071) |
|
6 5 3 . 6 3 2
i |
| 1 |
. |
D o n a t i o n s |
|
|
|
|
|
2 0 2 3 |
2 0 2 2 |
|
|
|
£ |
£ |
|
|
D o n a t i o n f r o m f o u n d e r |
100,000 |
302,000 |
|
|
Gift aid |
25,000 |
75,000 |
|
|
O t h e r d o n a t i o n s |
|
2 5 0 |
|
|
|
125,000 |
377,250 |
| 2 |
. |
C h a r i t a b l e a c t i v i t i e s |
|
|
|
|
Grant Making |
|
|
|
|
Grants were made to the following institutions: |
|
|
|
|
|
2 0 2 3 |
2 0 2 2 |
|
|
|
£ |
£ |
|
|
Murray Edwards College |
38,101 |
2,031,308 |
|
|
Holocaust Educational Trust |
25,000 |
25,000 |
|
|
Donmar Warehouse Projects Ltd |
4,720 |
100,000 |
|
|
St John's College Cambridge |
|
80,000 |
|
|
Guggenheim UK Trust |
5,400 |
|
|
|
The Courtauld Institute of Art |
|
|
|
|
S t a n f o r d Tr u s t |
|
|
|
|
Art Fund |
|
|
|
|
Royal Opera House |
15,250 |
5,250 |
|
|
H o r a t i o ' s G a r d e n |
|
|
|
|
Tate Gallery |
15,000 |
|
|
|
Ta t e F o u n d a t i o n |
10,680 |
10,680 |
|
|
I n t e r n a t i o n a l R e s c u e U k r a i n e |
|
38,000 |
|
|
Chelsea Physic Garden |
50,000 |
500,000 |
|
|
Other grants of less than £10,000 |
14,050 |
5,000 |
|
|
|
178,201 |
2,795,238 |
|
|
Governance and support costs (note 3) |
19,027 |
7,434 |
|
|
|
197,228 |
2,802,672 |
| upport and governance costs |
|
|
|
2 0 2 3 |
2 0 2 2 |
|
£ |
£ |
| Independent examination |
2,500 |
2,500 |
| Other amounts payable to auditors |
1,300 |
2,000 |
| Legal fees |
14,268 |
2,195 |
| I n s u r a n c e |
2 8 5 |
3 0 2 |
| Bank and investment management charges |
6 7 4 |
4 3 7 |
|
19,027 |
7,434 |
|
|
|
2 0 2 3 |
2 0 2 2 |
|
|
|
£ |
£ |
|
|
Gift aid receivable |
|
75,000 |
|
|
|
|
75,000 |
| 5 |
. |
C r e d i t o r s |
|
|
|
|
|
2 0 2 3 |
2 0 2 2 |
|
|
|
£ |
£ |
|
|
A c c r u a l s |
3,500 |
12,000 |
|
|
|
3,500 |
12,000 |
| 6 |
. |
Related party transactions |
|
|
|
2 0 2 3 |
2 0 2 2 |
|
£ |
£ |
| M a r k e t v a l u e |
|
|
| At 6April 2022 |
343,920 |
847,162 |
| A d d i t i o n s |
92,624 |
4,397 |
| Disposals |
|
(500,000) |
| M o v e m e n t i n i n v e s t m e n t c a s h |
(84,377) |
|
| Net investment gains/(losses) |
(7,597) |
(7.639) |
| At 5April 2023 |
344,570 |
343,920 |
| I n v e s t e d i n : |
|
|
|
2 0 2 3 |
2 0 2 2 |
|
£ |
£ |
| Cash |
42,626 |
127,003 |
| B o n d s |
301,944 |
216,917 |
| At 5April 2023 |
344,570 |
343,920 |