##
##
##
##
||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|