2023-12-31-accounts - Sofronie Foundation

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					Page
Annual Report ofthe	Trustees				1-7
Report ofthe Independent Auditor					8-10
Statement of Financial	Activities	(including	Income and Expenditure	Account)
Balance Sheet					12
Notes to the Financial	Statements				13 —19

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			Unrestricted	Unrestricted
			Funds	Funds
				(resteted —note 9)
		Page	2023	2022
			6	6
Income from:
Donations and legacies (note 2) Investment income		16	12,902 24,171	12,471 3,091
Total income			37,073	15,562
Expenditure:
Charitable activities	(note 3)	16	2,842,836	1,991,212
Total expenditure			2,842,836	1,991,212
Net expenditure			(2,805,763)	(1,975,650)
Other recognised	(losses)/gains
Realised (loss)/gain	on foreign currency transactions		(367)	1,390
Net movement in	funds		(2,806,130)	(1,974,260)
Reconciliation of	funds:
Total funds brought	forward		6,216,736	8,190,996
Total funds carried forward			E3,410,606	E6,216,736

				Unrestricted	Unrestricted
				Funds	Funds
					«estated —note 9)
			Page	2023	2022
				6	6
Fixed assets:
Tangible assets (Note 4)			17	596	953
Current assets:
Debtors (note 5) Cash at bank (note	6)		17 18	3,016,436 469,306	5,513,208 903,434
Total current assets				3,485,742	6,416,642
Liabilities:
Creditors: Amounts	falling	due in one year (note 7)	18	75,732	200,859
Total assets less current		liabilities		3,410,606	6,216,736
Total net assets				E3,410,606	66,216,736
The funds ofthe charity:
Unrestricted funds				63,410,606	6 6,216,736

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				Page		2023	2022
							(restated)
2.	DONATIONS AND LEGACIES					6	g
	Gift Aid Tax Relief (note 9)					12,902	12,471
				11	6	12,902	12,471
3.	CHARITABLE ACTIVITIES					2023 6	2022 6
	Grants payable: Stichting Codam EcolHuma				2,400,000 40,000		1,350,000 40,000
	Leiden Unversity Fund Foundation					30,000
	ESSECFoundation					25,000	36,000
	Stichting Het Rijksmuseum Aida Paalman De Miranda Fund					20,000 10,000
	Stichting IMC Weekendschool JINC NL					9,000	100,000
	Sport dans la ville						40,000
	Total donations paid relating to	2023			2,534,000		1,566,000
	Add/(Less): Donations paid relating to previous year commitments Provision for commitments brought forward Provision for future commitments due within one year			19		155,000 (155,000) 25,000	800,000 (800,000) 155,000
	Total grants payable				2559000		1 721 000
	Support Costs: Staff salary Employer's national insurance Travel and subsistence expenses Accountancy fees (governance costs) Employee benefits Staff pensions Audit fees (governance costs) Bank charges and custody fees Payroll expenses Phone and internet					184,673 42,996 14,129 8,485 8,078 6,995 6,231 5,157 2,592 2,016	170,000 40,633 9,175 6,211 16,406 5,711 8,667 2,160 1,169
	IT Support Entertaining Insurance (governance costs) Depreciation Legal &professional (governance Postage &courier Printing and stationery Marketing Conferences and training Subscriptions		costs)			831 827 469 357	1,048 910 1,257 357 1,939 21 11 3,669 764 104
	Total charitable activities			11	E2,842,836 6 1,991,212

During the year, 1 employee earne 5120,000).	d between 6120,00	0 and 5130,000(20	22: 1	between 5	110	,000and
				2023		2022
TANGIBLE FIXEDASSET		Page		6		g
Fixtures, fittings and equipment	at cost
Balance at 1 January 2023				2,472		2,472
Balance at 31 December 2023				2,472		2,472
Accumulated depreciation Balance at 1 January 2023				1,519		1,162
Charge for the year				357		357
Balance at 31 December 2023				1,876		1,519
Net BookValue at 31 December	2023	12	E	596	E	953

			2023	2022
DEBTORS				kestated)
			6	s
Donations receivable (note 9) HM Revenue & Customs - Gift Aid			3,000,000 12,779	5,500,000 13,059
Prepaid office	expenses		3,657	149
		12	E3,016,436	55,513,208

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		Page		2023	2022
CASH AT BANK				6	6
Goldman Sachs Revenue Account				439,593	887,902
Goldman Sachs Income Account (F1,800)				2,077	1,955
				441,670	889,857
Barclays Bank Euro Current Account Barclays Bank Current Account GBP(f12,264)				13,486 14,150	8,294 5,283
		12		E469,306	E903,434
CREDITORS - amounts falling due	within one year
Grants payable (note 8) Invoiced - staff cost		19		25,000 35,407	155,000 31,562
Accountancy fees				7,782	7,402
Audit fees				6,231	5,751
Credit card				925
Expense control account ITSupport				387	872 272
		12		675,732	6200,859
CHARITABLE ACTIVITIES - GRANTS PAYABLE
At 31 December 2023, the following	grants were committed	to be paid	in	subsequent years:
Payable within one year (note 7): TechMeUp				25,000	50,000
Article 1					105,000
Grants payable within one year (notes 3 &7)		17&19		E 25,000	6 155,000

adjustments	ry:
			2022	Prior year	2022
		As previously	reported	adjustment	As restated
			E
Donations and legacies Net movement offunds Unrestricted funds brought Unrestricted funds carried	forward forward		2,512,471 525,740 190,996 716,736	(2,500,000) (2,500,000) 8,000,000 5,500,000	12,471 (1,974,260) 8,190,996 6,216,736
Debtors			13,208	5,500,000	5,513,208
Total net assets			716,736	5,500,000	6,216,736

							2023	2022
								(restated)
FINANCIAL INSTRUMENTS
Financial assets	measured	at	fair value	through	income and
expenditure							6469,306	6903,434
Financial assets	measured	at	amortised	cost through		income
and expenditure	(note 9)						E3,012,779	65,513,059
Financial liabilities measured		at amortised		cost			E49,807	645,859