## |The trustees|The trustees|N A E Farrow|| |---|---|---|---| |||G R Ornstein|| |||DWise|| |||R Lynch|| |||K M Farrow|| |||S Device|| |||I Abed|| |||W Ham|| |Principal|place of business|Office 3|| |||Book House|| |||261A City Road|| |||London|| |||EC1V 1JX|| |Accountants||Fisher Phillips|LLP| |||Summit
House|| |||170Finchley Road|| |||London|| |||NW3 6BP|| |Bankers||EFG Private Bank Limited|| |||12 Hsy
Hill|| |||London|| |||W1J 6DW|| |Solicitors||Wilsons|| |||Steynings
House|| |||Fisherton Street|| |||Salisbury,
Wlltshire|| |||SP2 7RJ|| ## ## ||||Pages| |---|---|---|---| |Trustees'
Report|||1-5| |Independent
Examiner's||Report|| |Statement
offinancial|activities||| |Balance sheet|||| |Statement
ofcash flows|||| |Notes to the accounts|||10-16| ## ## ## |The trustees|The trustees|N A E Farrow (Chief Executive Officer)| |---|---|---| |||G R Ornstein| |||D Wise| |||R Lynch| |||K M Farrow| |||S Device| |||I Abed| |||W Ham| |Principal|place ofbusiness|Office 3| |||Book House| |||261A City Road| |||London| |||ECIV1JX| |Accountants||Fisher Phillips LLP| |||Summit
House| |||170Finchley Road| |||London| |||NW3 6BP| |Bankers||EFG Private Bank Umited| |||12 Hay
Hill| |||London| |||W1J 6DW| |Solicitors||Wfisons| |||Steynings
House| |||Fisherton Street| |||Salisbury,
Wiltshire| |||SP2 7RJ| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |(incorporating
an income
For the year ended 31|and expenditu
March 2022|re|acco|unt)|||| |---|---|---|---|---|---|---|---| |||||||2022|2021| ||||Note|Unrestricted
f|Restricted
f|Totalf|Totalf| |Income from:|||||||| |Donations
and legacies|||3|4,561||4,661|9,000| |Investment
income||||104||1|69,332| |Total income||||67666||87 666|8»| |Expenditure
on:|||||||| |Raising funds||||14,567||14,667|15,864| |Charitable
activities:|||||||| |Charitable
donations||||118,311|7,627|126,938|103,943| |Admin costs||||2,093||2,093|2,988| |Salary costs||||30,998||30,998|28,222| |Other|||||||| |Total expenditure||||1668|82|173,68|| |Net income
/ (expenditure)|before net gains|/|||||| |(losses) on investments||||(98,304)|(7,627)|(106,931)|(72,685)| |Net gains / (losses) on investments||||218829||18829|60982| |Net Income
/ (expenditure)|for the year|||120,626|(7,627)|112,898|(11,703)| |Transfers
between
funds|||||||| |Net Income
/ (expenditure)|before other||||||| |recognised
gains and losses||||120,626|(7,827)|112,898|(11,703)| |Other gains
/ (losses)|||||||| |Net movement
In funds||||120,626|(7,627)|112,898|(11,703)| |Reconclllagon
offunds:
Total funds brought
forward||||2,00,800»||013,433|| |Total funds carried forward|||11|21»|-|1 6»|13433| |For the year ended 31|March 20|22||||||| |---|---|---|---|---|---|---|---|---| |||||Note|2022|2022|2021|2021| |||||||||f| |Net cash provided
by / (used In) operating|||activities|13||55,843||(182,246)| |Cash flows from Investing|activities:|||||||| |Interest/rent/dividends
from|investments||||63,104||69,332|| |Proceeds from sale offixed|assets|||||||| |Purchase of fixed assets||||||||| |Proceeds from sale of investments|||||743,574||628,095|| |Purchase of investments|||||(580,320)||(543,379)|| |Cash provided
by /(used|in) Investing|activities||||226,358||154,048| |Change
in cash and cash|equivalents|In the year||||282,201||(28,198)| |Cash and cash equivalents|at the beginning||ofthe year|||15,050||43,248| |Cash and cash equivalents|at the end|of|the year|14||297,261||15,050| ## ## ## ## ## ## ## ## ## ## ## ## |2|Detailed comparstlves|for|the statement||offinancial|activities|activities|2021|2021|2021| |---|---|---|---|---|---|---|---|---|---|---| |||||||||Unrestrictedf|Restricted
f|Totalf| ||Income from:|||||||||| ||Donations
snd legacies
Investment
income|||||||500
59,332|8,500|9,000
69,332| ||Total income|||||||32|00|78332| ||Expenditure
on:
Raising funds|||||||15,864||16,864| ||Charitable
activities:|||||||||| ||Charitable
donations|||||||103,070|873|103,943| ||Admln costs|||||||2,988||2,988| ||Salary costs|||||||26,222||28,222| ||Total expenditure|||||||1 4|873|161017| ||Net income
/ expenditure
(losses) on investments||before gains|/||||(80,312)|7,627|(72,686)| ||Net gains
/ (losses) on investments|||||||60,982||60,982| ||Net Income
/ expenditure|||||||(19,330)|7,627|(11,703)| ||Transfers
between
funds|||||||||| ||Net income
/ (expenditure)
before other
recognised
gains snd losses|||||||(19,330)|7,627|(11,703)| ||Other gains
/ (losses)|||||||||| ||Net movement
In funds|||||||(19,330)|7,627|(11,703)| ||Total funds brought
forward
Total funds canted forward|||||||136
3,0 000»||2 026,136
013,| |3|Income from donations|and legacies|||||||2022|2021| ||||||Unrestricted
f|||Restrictedf|Totalf|Total
f| ||Gifts & donations|||||4,561|||4,661|9,000| ||Legacies|||||||||| |||||||4|1||401|0| |4|Income from Investments||||||||2022|2021| ||||||Unrestrictedf|||Restrictedf|Totalf|Totalf| ||Interest
Dividends
from listed Investments
Dividends
from unlisted
investments|||||21,994
24,419
15,691|||21,994
24,419
18,691|28,370
24,271
16,691| |||||||031|4||03104|69»2| ## |Analysis
of expenditure||||||||||| |---|---|---|---|---|---|---|---|---|---|---| ||||Charitable||SCUSIUSS|||||| |||Cost of|Charitable|Admln|||Support|Governance||| |||raising funds|donations||costs|Salary costs|costs|costs|2022 Total|2021 Total| |||E|||E|E|E|E|E|E| |Investment
management
fees
University
for Creative Arts
tera
Unlvsrsrty
of Brighton
Queens Cogege Cambridge
Commonwealth
EducaUon )rust
Shelly Power Uterery Agency Ltd||12,471|10,000
5,000||||||12,471
10,000
6,000|13,118
1,000
758
3,340
1,569| |Corporate
EducsUon )rust
Bans Tsndizo Foundation
The Mandarin )rust
Psgsnt House GSUery
3Peaks
DEC - Ukraine Appeal
Rudolph
Ihlse Subsidy
Histonc BCUdlngs fl Monument
Bank charges and interest
Exchange gain/ (loss)|Commission||89,592
500
500
10,000
8,250||(3)||||89,692
600
600
10,000
8,260
(3)|SO,S45
873
3,014
130
8| |Travel snd subsistence
Consultancy
fees
Webslle coats
Balmy costs||||||28,902|8,384||6,384
28,902|10,001
104
25,476| |||12,471|123,842||(3)|28,902|8,364||173,696|151,017| |Support costs||2,098|2,098||2,098|2,096|(8,364)|||| |Governance
costs||||||||||| |Total expenditure
2022||14,687|'f26,938||2,093|30,998|||173,688|151,017| |Total expenditure
2021||15,884|103,943||2,088|28,222|||151,017|| ## |6|Analysis ofstaff costs, trustee|Analysis ofstaff costs, trustee|remuneration|remuneration|and expenses, and the|and expenses, and the|cost of key|management|management|personnel||| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||Staff costs were as follows:||||||||||2022f|2021f| ||Salaries and wages||||||||||28,902|25,476| ||Social security costs|||||||||||25,476| ||The fogowlng
number|ofemployees||received employee||benefits (exduding|employer|pension)|during|the year|between:|| ||||||||||||2022|2021| ||||||||||||No.|No.| ||E60,000 —f69,999|||||||||||| ||E70,000 - F79,999|||||||||||| ||E80,000 - E89,999|||||||||||| ||f90,000 - f99,999|||||||||||| ## |2022|2021| |---|---| |No.|No.| |Raising funds| |---| |Trading| |Charitable
activities| |Support| |Governance| ## |8|Investments|||||| |---|---|---|---|---|---|---| ||||||2022|2021| ||Investments|at fair|value:||f|F| ||Listed investments||||1,139,127|1,283,551| ||Unlisted
investments||||900,000|700,000| ||Movements|on Unlisted
Investments||||| ||Market value|st the|start ofthe year||700,000|| ||Additions
at|cost||||| ||Disposals at carrying
value
Gains/ (Losses) on investment||||200,000|| ||Market value|at the|end ofthe year||900000|| ||The trustees|have revalued
the investments||as at 31 March 2022.||| ||Movements|on Listed Investments||||| ||Market value
Additions
at|at the
cost|start ofthe year||1,283,551
580,320|1,307,286
543,379| ||Disposals at carrying
value
Gains/ (Losses) on investment||||(743,574)
18,829|(628,095)
60,982| ||Market value|at the|end ofthe year|||| ## |Debtors|||| |---|---|---|---| |||2022|2021| |||E|E| |Accrued Interest||2,494|10,320| |Other debtors|—Bans Tandlzo Foundation|4,512|4,512| |Prepayment|||| ## |Creditor|s: am|ounts
falling due within one year||| |---|---|---|---|---| ||||2022|2021| ||||E|E| |Taxatlon|and social security|||| |Other creditors||—Scolsr Fine Art Limited|17,053|| ## |Analysis of net assets between
funds||||| |---|---|---|---|---| ||General|||Total| ||unrestricted|Designated|Restncted|funds| ||E|E|E|E| |Investments|2,039,127|||2,039,127| |Net current assets|87,204|||87,204| |Net assets at the end of the year||||| ## |||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Movements
in fu|nds||Incoming||Outgoing||Transfer|||| |||At the start|resources|&|resources|&|between|Net investment||At the end| |||ofthe year|gains||losses||funds|gains|/ (losses)|ofthe year| |||E||E||E|E||E|E| |Restricted funds:||7,627|||(7,627)|||||| |Total restricted funds||||||||||| |Unrestdcted
funds:||||||||||| |Designated
funds:||||||||||| |Total designated|funds|||||||||| |General funds||2,005,806|67,665||(165,969)||||18,829|1,926,331| |Total unrestricted|funds|||||||||| |Pension fund||||||||||| ## |For|the year ended 31 March 2022|||||| |---|---|---|---|---|---|---| |13|Reconciliation
ofnet Income /(expenditure)|to net cash flow from operating|activities||2022|2021| ||||||E|E| ||Net income
/ (expenditure)
for the reporting|period|||112,898|(11,703)| ||(as per the statement
offinancial activities)|||||| ||Depreciation
Interest and dividends
from investments||||(63,104)|(69,332)| ||(Gates) / losses on investments||||(18,829)|(60,982)| ||Loss / (profit) on the sale of fixed assets|||||| ||(Increase)
/ decrease
in stock
(Increase) /decrease
in debtors
increase
/ (decrease)
in creditors||||7,825
17,053|31,168
(71,398)| ||Net cash provided
by/(used
in) operating|activities|||3|~1246| |14|Analysis ofcash and cash equivalents|At 1 April|||Other|At 31 March| |||2021|E|Cash flows
E|changes
f|2022| ||Cash at bank and in hand|15,050||82,201||97,261| ||Total cash and cash equivalents|||01||97,261| ##