The Dorfman Foundation
Financial Statements Year Ended 5 April 2024 Charity No: 1120714
The Dorfman Foundation
Report and Financial Statements for the year ended 5 April 2024
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|---|---|
|Contents|
|Page:|
|1|Reference and administrative information|
|2-3|Report of the Trustees|
|4|Independent Examiners Report|
|5|Statement of Financial Activities|
|6|Balance Sheet|
|7-11|Notes forming part of the Financial Statements|
|12|Appendix|
|Trustees|
|Sir Lloyd Dorfman CVO OBE|
|Sarah Dorfman OBE|
|Amy Lux|
|Sophie Dorfman|
|Charles Dorfman|
|Anthony Wagerman|
|Peter Leach|
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Principal Office
22 Manchester Square, London, W1U 3PT
Accountants
BDO LLP, 55 Baker Street, London, W1U 7EU
Independent Examiner
Steve Hale FCA FCCA on behalf of Perrys Audit Limited Churchdown Chambers, Bordyke, Tonbridge, Kent, TN9 1NR
Bankers
Lloyds Bank Private Banking, 21-23 Hill Street, London, W1J 5JW Barclays Bank, PO Box 9042, Bowater House, 68 Knightsbridge, SW1 7BW
Investment Managers
Meridiem, Riverside House, 2a Southwark Bridge Road, London, United Kingdom, SE1 9HA Charities Property Fund, 33 Margaret Street, London, W1G 0JD
1
The Dorfman Foundation
Report of the Trustees for the year ended 5 April 2024
The Trustees present their report along with the financial statements of the charity for the year ended 5 April 2024. The Financial Statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity’s trust deed and applicable law.
Structure, Governance and Management
The Dorfman Foundation is constituted under a Declaration of Trust dated 26 February 2007 created by the Settlor, Sir Lloyd Dorfman. It is a registered charity number 1120714.
The Trustees who have served during the year and since the year end are set out on page 1. The power of appointing new or additional Trustees is vested in the Settlor during his lifetime.
At the regular Trustees' meetings, the Trustees agree the board strategy and areas of activity for the Foundation, including consideration of grant making, investment, reserves and risk management policies and performance.
Risk management
The Trustees have examined the major strategic, business and operational risks which the Charity faces and confirm that systems have been established to enable regular reports to be produced so that such risks are continuously monitored and that appropriate steps can be taken to lessen these risks.
Objectives and Activities
The Trustees have examined the major strategic, business and operational risks which the Charity faces and confirm that systems have been established to enable regular reports to be produced so that such risks are continuously monitored and that appropriate steps can be taken to lessen these risks.
Grant making policy
All applications received are considered by the Trustees on their own merit for suitability of funding.
Public benefit
In meeting the objectives the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit and judge that all donations made meet this guidance. All donations are listed in note 4 on page 8.
Achievements and Performance
The Trustees have continued to apply their funds in accordance with the objectives of the Trust and their grant making policy. Donations totalling £1,256,584 have been made in the year (2023: £396,000).
Plans for the future
The Trustees intend to continue providing grants in a similar way to the recent past but retaining flexibility as to the timing, and scale of grant making.
2
The Dorfman Foundation
Report of the Trustees for the year ended 5 April 2024 (continued)
Financial Review
As at 5 April 2024 the market value of investments held was £3,620,484 (2023: £3,908,573) and cash holdings amounted to £36,139 (2023: £756,996).
Reserves policy
The Trustees’ policy is to maintain their continuing level of support under the grant making policy that they have agreed. If income resources are insufficient to cover the grants then recourse is made to the other funds of the Trust. The Trustees do not consider that any minimum level of resources is required.
Trustees’ responsibilities in relation to the financial statements
Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees and signed on their behalf by:
Sir Lloyd Dorfman CVO OBE Trustee
Date:
3
Independent Examiner’s Report to the Trustees of the
The Dorfman Foundation
We report to the trustees on my examination of the accounts of The Dorfman Foundation for the year ended 5 April 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). We report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Steve Hale FCA,FCCA, on behalf of
Perrys Audit Limited
Churchdown Chambers Bordyke Tonbridge Kent TN9 1NR
Date:
4
The Dorfman Foundation
Statement of Financial Activities for the year ended 5 April 2024
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Notes 2024 2023
£ £
Income and endowments from
Investment income 2 76,503 108,623
Total 76,503 108,623
Expenditure on
Costs of Raising Funds:
Investment management costs 38,189 41,972
Charitable activities 3 1,268,223 475,399
Total 1,306,412 517,371
Net income/(expenditure) before investment gains/(losses) (1,229,909) (408,748)
Net gains/(losses) on investments 6 384,560 (307,211)
Net gains/(losses) on currency (1) (1)
Net income/(expenditure) (845,350) (715,960)
Total funds at 6 April 2023 3,934,228 4,650,188
Total funds at 5 April 2024 3,088,878 3,934,228
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All funds are unrestricted and relate to continuing activities.
The notes on pages 7 to 11 form part of these financial statements
5
The Dorfman Foundation
Balance Sheet as at 5 April 2024
| Notes Fixed Assets Quoted investments: Charities Properties Fund 6 Meridiem Investment Management 6 Current Assets Cash at bank and in hand 7 Liabilities Creditors:amounts falling due within one year 8 Net current assets Creditors:amounts falling due after one year 9 Total net assets Funds Unrestricted Funds |
£ £ 48,065 3,572,419 3,620,484 36,139 (303,461) (267,322) (264,284) 3,088,878 3,088,878 2024 |
£ £ 630,908 3,277,665 3,908,573 756,996 (467,057) 289,939 (264,284) 3,934,228 3,934,228 2023 |
|---|---|---|
Approved by the Trustees and signed on their behalf by:
| Sir Lloyd Dorfman CVO OBE | Charles Dorfman |
|---|---|
| Trustee | Trustee |
| The notes on pages 7 to 11 form part of these financial statements |
6
The Dorfman Foundation
Notes to the financial statements for the year ended 5 April 2024
1 Principal Accounting Policies
(a) Accounting Convention
The financial statements are prepared under the historical cost convention and in preparing the financial statements the charity follows best practice as laid down in the Statement of Recommended Practice “Accounting and Reporting by Charities” (Charities SORP (FRS 102)) and comply with the Charities (Accounts and Reports) Regulations 2008 issued under the Charities Act 2011.
(b) Donations, legacies and similar income
Donations, legacies and similar income are shown in the accounts when receivable and the value of the incoming resources can be measured with sufficient reliability.
(c) Investment income
Investment income is accounted for in the period in which the charity is entitled to receipt.
(d) Resources expended
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis.
(e) Charitable activities
Costs of charitable activities include grants made and an apportionment of overhead and support costs where applicable.
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside of the control of the Trust.
(f) Governance costs
Governance costs comprise costs relating to the general running of the charity as opposed to those associated with generating funds or charitable activity.
(g) Fixed asset investments
Investments are stated at closing market value at the balance sheet date. Any gains or losses on revaluation and disposal are shown in the Statement of Financial Activities.
(h) Realised gains and losses
Gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and purchase cost. Unrealised gains and losses are calculated as the difference between the market value at year end and opening market value (or purchase date if later). Realised and unrealised gains and losses are not separated in the Statement of Financial Assets.
(i)[Taxation]
The charity is exempt from tax on its charitable activities.
(j) Going concern
The trustees consider that there are no material uncertainties about the ability to continue as a going concern.
7
The Dorfman Foundation
Notes to the financial statements for the year ended 5 April 2024
| 2 Investment income Interest on cash deposits Income from Veritas portfolio Distributions from Charities Property Fund 3 Charitable activities General charitable purpose donations (see note 4) Support costs (see note 5) 4 Donations payable AJEX Charitable Foundation 1082148 216726 Community Security Trust 1042391 Donmar Warehouse Projects Limited 284262 English National Ballet 214005 Holocaust Educational Trust 1092892 Jewish Care 802559 JW3 Development 1156248 Northern Ballet 259140 Norwood Ravenswood 1059050 Royal Academy of Dance 312826 Sadler's Wells Trust 279884 St Martin-in-the-fields 1110406 The Bike Project 1152354 The Normandy Memorial Trust 1168973 UK Friends of Yad Yisroel 1109649 Donations of £5,000 or less Registered Charity No. British Academy of Film Television & Arts (BAFTA) |
2024 £ 17,370 30,951 28,182 76,503 2024 £ 1,256,584 11,639 1,268,223 2024 £ - 100,000 101,500 - - 12,500 50,500 446,584 50,000 35,000 - 400,000 10,000 - 25,000 15,000 10,500 1,256,584 |
2023 £ 2,545 32,715 73,363 108,623 2023 £ 396,000 79,399 475,399 2023 £ 5,000 - 101,000 6,000 10,000 12,500 - - - 35,000 200,000 - - 10,000 - - 16,500 396,000 |
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8
The Dorfman Foundation
Notes to the financial statements for the year ended 5 April 2024
| 5 Support Costs Accountancy fees Consultancy fees Independent examiner fees 6 Investments Charities Properties Fund Market value at 6 April 2023 Acquisition cost in the year Proceeds from disposals in the year Realised gains on disposals Movement in unrealised valuation Total gains/(losses) Market value at 5 April 2024 Historical cost at 5 April 2024 Meridiem Investment Management Market value at 6 April 2023 Acquisition cost in the year Proceeds from disposals in the year Realised gains on disposals Movement in unrealised valuation Total gains/(losses) Market value of Investments at 5 April Portfolio cash Market value at 5 April 2024 Historical cost at 5 April 2024 |
2024 £ 10,560 - 1,079 11,639 £ £ 630,908 - (571,250) (571,250) 14,065 (25,658) (11,593) 48,065 48,914 £ £ 3,120,725 779,598 (826,872) (47,274) 105,454 290,699 396,153 2024 3,469,604 102,815 3,572,419 2,622,792 2024 2024 |
2023 £ 10,560 67,795 1,044 79,399 £ £ 2,100,676 - (1,250,000) (1,250,000) 108,447 (328,215) (219,768) 630,908 606,099 £ £ 3,168,866 717,771 (678,469) 39,302 52,420 (139,863) (87,443) 3,120,725 156,940 3,277,665 2,564,612 2023 2023 |
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9
The Dorfman Foundation
Notes to the financial statements for the year ended 5 April 2024
| 7 | Cash at bank and in hand | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| Barclays Wealth Charity Saver | - | 756,442 | |
| Barclays Private Deposit | 35,574 | - | |
| Lloyds Bank account | 565 | 554 | |
| 36,139 | 756,996 | ||
| 8 | Creditors: Amounts falling due within one year | 2024 | 2023 |
| Accountancy Fees | £ 2,640 |
£ 5,280 |
|
| Investment Manager Fees | 9,473 | 10,477 | |
| Independent Examiner Fees | 2,124 | 2,076 | |
| Consultancy Fees | 67,795 | 67,795 | |
| Donations Payable | 221,429 | 381,429 | |
| 303,461 | 467,057 | ||
| 9 | Creditors: Amounts falling due after one year | 2024 | 2023 |
| Donations Payable | £ 264,284 |
£ 264,284 |
|
| **10 ** | Charitable Commitments | ||
| The Trustees have committed to pay the following: | |||
| £900,000 to British Academy of Film Television & Arts | (BAFTA) | - £500,000 donated at 5 April 2024 | |
| £150,000 to Highgate School | - £64,286 donated at 5 April 2024 |
11 Trustees' remuneration and benefits
None of the Trustees have been paid any remuneration or received any other benefits from the Charity. No trustees' expenses were incurred in the year ended 5 April 2024 (2023 - none).
10
The Dorfman Foundation
Notes to the financial statements for the year ended 5 April 2024
12 Related party transactions
There have been no transactions with persons or entities that are closely connected to the charity or it's trustees, with the exception of the following charities, which have the following Trustees in common:
- JW3 Development - Amy Lux • BAFTA - Sir Lloyd Dorfman
Sir Lloyd Dorfman resigned as a Trustee of JW3 Development in January 2020. He holds the position of Honorary Vice President.
Consultancy fees of £Nil (2023: £67,795) were invoiced by Esselco Group Limited during the year for the provision of administration services and operational facilities. Sir Lloyd Dorfman and Charles Dorfman are both Directors of Esselco Group Limited. £67,795 of fees were outstanding at 5 April 2024 (2023: £67,795).
Sir Lloyd Dorfman is deputy chairman of the Community Security Trust.
11
The Dorfman Foundation
Appendix
Accrued Grants Liability Schedule of Investments
5 April 2024
12
The Dorfman Foundation
Accrued Grants Liability for the year ended 5 April 2024
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Balance at New Liability Adjustments Payments Balance at
6 April 2023 in year in year in the year 5 April 2024
BAFTA 400,000.00 - 100,000.00 (100,000.00) 400,000.00
- - -
Cygnet School 60,000.00 (60,000.00)
- - -
Highgate School 85,713.86 85,713.86
- - -
Royal Academy of Dance 100,000.00 (100,000.00)
-
645,713.86 100,000.00 (260,000.00) 485,713.86
Year Ended 5 April
2025 2026 2027 Later Years Total
BAFTA 200,000.00 100,000.00 100,000.00 - 400,000.00
Highgate School 21,429.00 21,429.00 21,429.00 21,426.86 85,713.86
221,429.00 121,429.00 121,429.00 21,426.86 485,713.86
Payments falling due within one year 221,429.00
Payments falling due after one year 264,284.86
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1
The Dorfman Foundation
Schedule of Investments Charities Properties Fund for the year ended 5 April 2024
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Opening Balances Acquisitions Disposals Closing
Units Cost Value Units Cost Units Proceeds Cost Profit/Loss Units Cost Value Income
£ £ £ £ £ £ £ £ £
The Charities Property Fund Income Units
06-Apr-23 b/fwd 505,292 606,098 630,908
06-Jul-23 Sale 403,615 500,000 484,137 15,863
05-Jan-24 Sale 40,514 47,500 48,596 (1,096)
05-Apr-24 Sale 20,385 23,750 24,452 (702)
05-Apr-24 c/fwd 40,778 48,914 48,065 28,182
606,098 630,908 - 571,250 557,185 14,065 48,914 48,065 28,182
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1
The Dorfman Foundation
Schedule of Investments for the year ended 5 April 2024
| Opening Balances | Opening Balances | Acquisitions | Acquisitions | Disposals | Closing | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Units | Cost | Value | Units | Cost | Units | Proceeds | Cost | Profit/Loss | Units | Cost | Value | Income | ||
| £ | £ | £ | £ | £ | £ | £ | £ | £ | ||||||
| Royal London Short Term Money | Market Fund | |||||||||||||
| 06-Apr-23 | b/fwd | - | - | - | ||||||||||
| 27-Dec-23 | Purchase | 109,118 | 106,757 | |||||||||||
| 17-Jan-24 | Sale | 109,118 | 107,140 | 106,757 | 383 | |||||||||
| 03-Apr-24 | Purchase | 61,168 | 60,700 | |||||||||||
| 05-Apr-24 | c/fwd | 61,168 | 60,700 | 60,767 | - | |||||||||
| Asian Development Bank .75% 07/12/2027 | ||||||||||||||
| 06-Apr-23 | b/fwd | 100,000 | 100,775 | 86,912 | ||||||||||
| 05-Apr-24 | c/fwd | 100,000 | 100,775 | 88,323 | 750 | |||||||||
| European Investment Bank Floating 5.9615% 18/01/2027 | ||||||||||||||
| 06-Apr-23 | b/fwd | 85,000 | 88,848 | 87,417 | ||||||||||
| 03-Aug-23 | Sale | 85,000 | 87,384 | 89,069 | (1,685) | |||||||||
| 18-Oct-23 | Accrued interest | - | 221 | |||||||||||
| 05-Apr-24 | c/fwd | - | - | - | 2,416 | |||||||||
| Experian Finance PLC .739% 29/10/2025 | ||||||||||||||
| 06-Apr-23 | b/fwd | 100,000 | 100,341 | 90,978 | ||||||||||
| 05-Apr-24 | c/fwd | 100,000 | 100,341 | 93,586 | 739 | |||||||||
| International Bank for Reconstruction & Development 1% 21/12/2029 | ||||||||||||||
| 06-Apr-23 | b/fwd | 102,000 | 105,610 | 85,647 | ||||||||||
| 05-Apr-24 | c/fwd | 102,000 | 105,610 | 86,205 | 1,020 | |||||||||
| Nestle Holdings Inc .625% 18/12/2025 | ||||||||||||||
| 06-Apr-23 | b/fwd | 100,000 | 99,955 | 91,229 | ||||||||||
| 05-Apr-24 | c/fwd | 100,000 | 99,955 | 93,360 | 625 |
1
The Dorfman Foundation
Schedule of Investments for the year ended 5 April 2024
| Opening Balances | Opening Balances | Acquisitions | Acquisitions | Disposals | Closing | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Units | Cost | Value | Units | Cost | Units | Proceeds | Cost | Profit/Loss | Units | Cost | Value | Income | |||
| £ | £ | £ | £ | £ | £ | £ | £ | £ | |||||||
| Siemens Financieringsmaatschappij NV .875% 05/06/2023 | |||||||||||||||
| 06-Apr-23 | b/fwd | 100,000 | 98,948 | 99,375 | |||||||||||
| 05-Jun-23 | Sale | 100,000 | 100,000 | 98,805 | 1,195 | ||||||||||
| 05-Jun-23 | Accrued interest | - | (144) | ||||||||||||
| 05-Apr-24 | c/fwd | - | - | - | 731 | ||||||||||
| Siemens Financieringsmaatschappij NV 1% | 20/02/2025 | ||||||||||||||
| 06-Apr-23 | b/fwd | 100,000 | 102,291 | 93,895 | |||||||||||
| 05-Apr-24 | c/fwd | 100,000 | 102,291 | 96,556 | 1,000 | ||||||||||
| Unilever PLC 1.5% 22/07/2026 | |||||||||||||||
| 06-Apr-23 | b/fwd | 100,000 | 92,108 | 92,208 | |||||||||||
| 22-Jul-23 | Accrued interest | - | (916) | ||||||||||||
| 05-Apr-24 | c/fwd | 100,000 | 91,192 | 93,633 | 584 | ||||||||||
| United Kingdom Inflation-Linked Gilt .125% 22/03/2024 | |||||||||||||||
| 06-Apr-23 | b/fwd | 44,600 | 66,116 | 66,557 | |||||||||||
| 22-Mar-24 | Sale | 44,600 | 69,603 | 66,116 | 3,488 | ||||||||||
| 05-Apr-24 | c/fwd | - | - | - | 87 | ||||||||||
| United Kingdom Inflation-Linked Gilt .125% 22/03/2026 | |||||||||||||||
| 06-Apr-23 | b/fwd | 57,000 | 75,136 | 80,614 | |||||||||||
| 05-Apr-24 | c/fwd | 57,000 | 75,136 | 83,196 | 104 | ||||||||||
| United Kingdom Inflation-Linked Gilt .125% 22/03/2029 | |||||||||||||||
| 06-Apr-23 | b/fwd | - | - | - | |||||||||||
| 05-Jul-23 | Purchase | 44,500 | 66,989 | ||||||||||||
| 22-Sep-23 | Accrued interest | - | (25) | ||||||||||||
| 05-Apr-24 | c/fwd | 44,500 | 66,964 | 70,832 | 63 |
2
The Dorfman Foundation
Schedule of Investments for the year ended 5 April 2024
| Opening Balances | Opening Balances | Acquisitions | Acquisitions | Acquisitions | Disposals | Closing | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Units | Cost | Value | Units | Cost | Units | Proceeds | Cost | Profit/Loss | Units | Cost | Value | Income | |||
| £ | £ | £ | £ | £ | £ | £ | £ | £ | |||||||
| United Kingdom Gilt .75% 22/07/2023 | |||||||||||||||
| 06-Apr-23 | b/fwd | 70,000 | 70,665 | 69,328 | |||||||||||
| 24-Jul-23 | Sale | 70,000 | 70,000 | 70,665 | (665) | ||||||||||
| 05-Apr-24 | c/fwd | - | - | - | 263 | ||||||||||
| United Kingdom Inflation-Linked | Gilt 1.25% 22/11/2032 | ||||||||||||||
| 06-Apr-23 | b/fwd | - | - | - | |||||||||||
| 28-Mar-24 | Purchase | 65,000 | 124,094 | ||||||||||||
| 05-Apr-24 | c/fwd | 65,000 | 124,094 | 123,177 | - | ||||||||||
| United Kingdom Inflation-Linked | Gilt 4.125% 22/07/2030 | ||||||||||||||
| 06-Apr-23 | b/fwd | - | - | - | |||||||||||
| 02-Aug-23 | Purchase | 20,000 | 67,242 | ||||||||||||
| 22-Jan-24 | Accrued interest | - | (69) | ||||||||||||
| 05-Apr-24 | c/fwd | 20,000 | 67,173 | 68,784 | 1,077 | ||||||||||
| Verizon Communications Inc 1.125% 03/11/2028 | |||||||||||||||
| 06-Apr-23 | b/fwd | - | - | - | |||||||||||
| 09-Jun-23 | Purchase | 100,000 | 80,265 | ||||||||||||
| 03-Nov-23 | Accrued interest | - | (672) | ||||||||||||
| 05-Apr-24 | c/fwd | 100,000 | 79,593 | 85,892 | 453 | ||||||||||
| Accenture | PLC | ||||||||||||||
| 06-Apr-23 | b/fwd | 328 | 40,247 | 74,112 | |||||||||||
| 01-Apr-24 | Purchase | 34 | 9,108 | ||||||||||||
| 05-Apr-24 | c/fwd | 362 | 49,355 | 95,548 | 942 | ||||||||||
| Adobe Inc | |||||||||||||||
| 06-Apr-23 | b/fwd | 169 | 52,813 | 51,850 | |||||||||||
| 07-Aug-23 | Sale | 34 | 14,071 | 10,625 | 3,446 | ||||||||||
| 10-Nov-23 | Sale | 25 | 12,060 | 7,813 | 4,248 | ||||||||||
| 22-Feb-24 | Sale | 20 | 8,455 | 6,250 | 2,205 | ||||||||||
| 05-Apr-24 | c/fwd | 90 | 28,126 | 34,594 | - | ||||||||||
| 3 |
The Dorfman Foundation
Schedule of Investments for the year ended 5 April 2024
| Opening Balances | Opening Balances | Acquisitions | Acquisitions | Disposals | Closing | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Units | Cost | Value | Units | Cost | Units | Proceeds | Cost | Profit/Loss | Units | Cost | Value | Income | ||||
| £ | £ | £ | £ | £ | £ | £ | £ | £ | ||||||||
| Align Technology Inc | ||||||||||||||||
| 06-Apr-23 | b/fwd | 220 | 49,390 | 56,005 | ||||||||||||
| 05-Apr-24 | c/fwd | 220 | 49,390 | 55,391 | - | |||||||||||
| Alphabet Inc | ||||||||||||||||
| 06-Apr-23 | b/fwd | 688 | 37,845 | 57,992 | ||||||||||||
| 30-Oct-23 | Sale | 211 | 21,335 | 11,607 | 9,728 | |||||||||||
| 05-Apr-24 | c/fwd | 477 | 26,239 | 58,190 | - | |||||||||||
| Amazon.com Inc | ||||||||||||||||
| 06-Apr-23 | b/fwd | 440 | 52,197 | 35,724 | ||||||||||||
| 12-May-23 | Purchase | 142 | 12,304 | |||||||||||||
| 05-Apr-24 | c/fwd | 582 | 64,500 | 85,354 | - | |||||||||||
| Amphenol Corp | ||||||||||||||||
| 06-Apr-23 | b/fwd | 980 | 30,136 | 61,433 | ||||||||||||
| 30-May-23 | Purchase | 272 | 16,281 | |||||||||||||
| 26-Feb-24 | Sale | 211 | 17,649 | 7,823 | 9,827 | |||||||||||
| 05-Apr-24 | c/fwd | 1,041 | 38,594 | 96,870 | 680 | |||||||||||
| Automatic | Data Processing Inc | |||||||||||||||
| 06-Apr-23 | b/fwd | 293 | 34,366 | 50,166 | ||||||||||||
| 05-Apr-24 | c/fwd | 293 | 34,366 | 56,873 | 1,051 | |||||||||||
| Avery Dennison Corp | ||||||||||||||||
| 06-Apr-23 | b/fwd | 350 | 27,770 | 49,687 | ||||||||||||
| 05-Apr-24 | c/fwd | 350 | 27,770 | 60,503 | 764 | |||||||||||
| Broadridge Financial Solutions Inc | ||||||||||||||||
| 06-Apr-23 | b/fwd | 540 | 57,002 | 61,091 | ||||||||||||
| 05-Apr-24 | c/fwd | 540 | 57,002 | 86,761 | 1,145 |
4
The Dorfman Foundation
Schedule of Investments for the year ended 5 April 2024
| Opening Balances | Opening Balances | Acquisitions | Acquisitions | Disposals | Closing | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Units | Cost | Value | Units | Cost | Units | Proceeds | Cost | Profit/Loss | Units | Cost | Value | Income | |||
| £ | £ | £ | £ | £ | £ | £ | £ | £ | |||||||
| Bunzl PLC | |||||||||||||||
| 06-Apr-23 | b/fwd | 1,717 | 38,959 | 52,781 | |||||||||||
| 22-Sep-23 | Purchase | 538 | 15,708 | ||||||||||||
| 05-Apr-24 | c/fwd | 2,255 | 54,666 | 66,297 | 1,190 | ||||||||||
| DSM-Firmenich AG | |||||||||||||||
| 06-Apr-23 | b/fwd | - | - | - | |||||||||||
| 17-Apr-23 | Exchange | 494 | 57,937 | ||||||||||||
| 06-Jul-23 | Return of Capital | - | (674) | ||||||||||||
| 28-Aug-23 | Purchase | 132 | 9,658 | ||||||||||||
| 05-Apr-24 | c/fwd | 626 | 66,920 | 55,461 | - | ||||||||||
| Experian PLC | |||||||||||||||
| 06-Apr-23 | b/fwd | 1,702 | 31,827 | 45,631 | |||||||||||
| 19-Sep-23 | Purchase | 343 | 9,580 | ||||||||||||
| 05-Apr-24 | c/fwd | 2,045 | 41,407 | 69,346 | 794 | ||||||||||
| Fiserv Inc | |||||||||||||||
| 06-Apr-23 | b/fwd | 1,150 | 75,226 | 103,778 | |||||||||||
| 27-Jul-23 | Sale | 169 | 16,920 | 11,055 | 5,865 | ||||||||||
| 05-Apr-24 | c/fwd | 981 | 64,171 | 122,393 | - | ||||||||||
| Franco-Nevada Corp | |||||||||||||||
| 06-Apr-23 | b/fwd | 895 | 66,033 | 110,508 | |||||||||||
| 27-Jul-23 | Sale | 94 | 10,705 | 6,935 | 3,770 | ||||||||||
| 21-Dec-23 | Sale | 801 | 70,382 | 59,098 | 11,284 | ||||||||||
| 05-Apr-24 | c/fwd | - | - | - | 514 |
5
The Dorfman Foundation
Schedule of Investments for the year ended 5 April 2024
| Opening Balances | Opening Balances | Acquisitions | Acquisitions | Disposals | Closing | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Units | Cost | Value | Units | Cost | Units | Proceeds | Cost | Profit/Loss | Units | Cost | Value | Income | |||
| £ | £ | £ | £ | £ | £ | £ | £ | £ | |||||||
| Hasbro Inc | |||||||||||||||
| 06-Apr-23 | b/fwd | 717 | 42,947 | 29,900 | |||||||||||
| 12-Oct-23 | Sale | 119 | 5,769 | 7,128 | (1,359) | ||||||||||
| 13-Oct-23 | Sale | 262 | 12,449 | 15,693 | (3,244) | ||||||||||
| 16-Oct-23 | Sale | 336 | 15,404 | 20,126 | (4,722) | ||||||||||
| 05-Apr-24 | c/fwd | - | - | - | 677 | ||||||||||
| Infineon Technologies AG | |||||||||||||||
| 06-Apr-23 | b/fwd | 2,853 | 57,556 | 88,728 | |||||||||||
| 18-Dec-23 | Sale | 361 | 11,806 | 7,283 | 4,523 | ||||||||||
| 01-Mar-24 | Sale | 1,963 | 56,182 | 39,601 | 16,581 | ||||||||||
| 04-Mar-24 | Sale | 529 | 14,945 | 10,672 | 4,273 | ||||||||||
| 05-Apr-24 | c/fwd | - | - | - | 550 | ||||||||||
| Intuit Inc | |||||||||||||||
| 06-Apr-23 | b/fwd | 196 | 57,222 | 69,129 | |||||||||||
| 05-Apr-24 | c/fwd | 196 | 57,222 | 98,755 | 445 | ||||||||||
| Intuitive Surgical Inc | |||||||||||||||
| 06-Apr-23 | b/fwd | 350 | 72,570 | 72,516 | |||||||||||
| 19-Jan-24 | Sale | 40 | 11,278 | 8,294 | 2,984 | ||||||||||
| 05-Apr-24 | c/fwd | 310 | 64,276 | 95,447 | - | ||||||||||
| Kerry Group PLC | |||||||||||||||
| 06-Apr-23 | b/fwd | 590 | 54,494 | 47,457 | |||||||||||
| 05-Apr-24 | c/fwd | 590 | 54,494 | 39,343 | 416 | ||||||||||
| Koninklijke | DSM NV | ||||||||||||||
| 06-Apr-23 | b/fwd | 494 | 57,937 | 46,785 | |||||||||||
| 17-Apr-23 | Exchange | (494) | (57,937) | ||||||||||||
| 05-Apr-24 | c/fwd | - | - | - | - |
6
The Dorfman Foundation
Schedule of Investments for the year ended 5 April 2024
| Opening Balances | Opening Balances | Acquisitions | Acquisitions | Disposals | Closing | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Units | Cost | Value | Units | Cost | Units | Proceeds | Cost | Profit/Loss | Units | Cost | Value | Income | ||||
| £ | £ | £ | £ | £ | £ | £ | £ | £ | ||||||||
| Kuehne + Nagel International AG | ||||||||||||||||
| 06-Apr-23 | b/fwd | 193 | 23,048 | 44,826 | ||||||||||||
| 05-Apr-24 | c/fwd | 193 | 23,048 | 43,436 | 1,569 | |||||||||||
| Laboratory | Corp of America Holdings | |||||||||||||||
| 06-Apr-23 | b/fwd | 500 | 65,731 | 93,981 | ||||||||||||
| 03-Jul-23 | Spin-off | - | (9,847) | |||||||||||||
| 30-Nov-23 | Purchase | 21 | 3,543 | |||||||||||||
| 05-Apr-24 | c/fwd | 521 | 59,426 | 87,259 | 984 | |||||||||||
| Fortrea Holdings Inc - W/I | ||||||||||||||||
| 06-Apr-23 | b/fwd | - | - | - | ||||||||||||
| 03-Jul-23 | Spin-off | 500 | 9,847 | |||||||||||||
| 13-Jul-23 | Sale | 500 | 11,769 | 9,847 | 1,922 | |||||||||||
| 05-Apr-24 | c/fwd | - | - | - | - | |||||||||||
| London Stock Exchange Group PLC | ||||||||||||||||
| 06-Apr-23 | b/fwd | - | - | - | ||||||||||||
| 20-Jul-23 | Purchase | 222 | 18,554 | |||||||||||||
| 24-Jul-23 | Purchase | 222 | 18,806 | |||||||||||||
| 14-Dec-23 | Purchase | 201 | 18,681 | |||||||||||||
| 15-Dec-23 | Purchase | 66 | 6,175 | |||||||||||||
| 26-Feb-24 | Purchase | 126 | 11,186 | |||||||||||||
| 05-Apr-24 | c/fwd | 837 | 73,401 | 78,494 | 159 | |||||||||||
| Marsh & McLennan Cos Inc | ||||||||||||||||
| 06-Apr-23 | b/fwd | 720 | 63,478 | 97,252 | ||||||||||||
| 15-Feb-24 | Sale | 104 | 16,258 | 9,169 | 7,089 | |||||||||||
| 05-Apr-24 | c/fwd | 616 | 54,309 | 100,406 | 1,326 | |||||||||||
| Mastercard | Inc | |||||||||||||||
| 06-Apr-23 | b/fwd | 319 | 48,522 | 93,200 | ||||||||||||
| 05-Apr-24 | c/fwd | 319 | 48,522 | 120,578 | 511 | |||||||||||
| 7 |
The Dorfman Foundation
Schedule of Investments for the year ended 5 April 2024
| Opening Balances | Opening Balances | Acquisitions | Acquisitions | Disposals | Closing | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Units | Cost | Value | Units | Cost | Units | Proceeds | Cost | Profit/Loss | Units | Cost | Value | Income | |||||
| £ | £ | £ | £ | £ | £ | £ | £ | £ | |||||||||
| Microsoft Corp | |||||||||||||||||
| 06-Apr-23 | b/fwd | 356 | 29,249 | 81,300 | |||||||||||||
| 12-May-23 | Sale | 60 | 14,835 | 4,930 | 9,905 | ||||||||||||
| 05-Apr-24 | c/fwd | 296 | 24,319 | 99,838 | 572 | ||||||||||||
| Next PLC | |||||||||||||||||
| 06-Apr-23 | b/fwd | 887 | 69,895 | 56,325 | |||||||||||||
| 13-Oct-23 | Sale | 146 | 10,236 | 11,505 | (1,268) | ||||||||||||
| 05-Apr-24 | c/fwd | 741 | 58,390 | 65,371 | 1,731 | ||||||||||||
| NIKE Inc | |||||||||||||||||
| 06-Apr-23 | b/fwd | 356 | 32,461 | 34,565 | |||||||||||||
| 16-Jun-23 | Purchase | 135 | 11,674 | ||||||||||||||
| 16-Oct-23 | Purchase | 154 | 12,591 | ||||||||||||||
| 05-Apr-24 | c/fwd | 645 | 56,726 | 45,432 | 519 | ||||||||||||
| Roche Holding AG | |||||||||||||||||
| 06-Apr-23 | b/fwd | 340 | 64,580 | 80,680 | |||||||||||||
| 05-Apr-24 | c/fwd | 340 | 64,580 | 65,612 | 1,884 | ||||||||||||
| Sonova Holding AG | |||||||||||||||||
| 06-Apr-23 | b/fwd | - | - | - | |||||||||||||
| 25-Sep-23 | Purchase | 14 | 2,777 | ||||||||||||||
| 26-Sep-23 | Purchase | 14 | 2,744 | ||||||||||||||
| 27-Sep-23 | Purchase | 32 | 6,280 | ||||||||||||||
| 28-Sep-23 | Purchase | 35 | 6,896 | ||||||||||||||
| 29-Sep-23 | Purchase | 31 | 6,032 | ||||||||||||||
| 02-Oct-23 | Purchase | 55 | 10,610 | ||||||||||||||
| 05-Apr-24 | c/fwd | 181 | 35,338 | 40,147 | - |
8
The Dorfman Foundation
Schedule of Investments for the year ended 5 April 2024
| Units Cost Value Units Cost Units £ £ £ Opening Balances Acquisitions Synopsys Inc 06-Apr-23 b/fwd 325 71,895 98,744 22-Jun-23 Sale 27 14-Sep-23 Sale 71 27-Oct-23 Sale 13 05-Apr-24 c/fwd Thermo Fisher Scientific INC 06-Apr-23 b/fwd 210 36,926 97,743 19-Oct-23 Purchase 46 18,407 05-Apr-24 c/fwd Tractor Supply Co 06-Apr-23 b/fwd 460 35,396 86,636 05-Apr-24 c/fwd UnitedHealth Group Inc 06-Apr-23 b/fwd 207 39,532 84,686 19-Jan-24 Purchase 48 20,033 05-Apr-24 c/fwd WisdomTree Core Physical Gold 06-Apr-23 b/fwd 380 46,572 61,359 12-Jan-24 Purchase 177 28,205 05-Apr-24 c/fwd 2,564,612 3,120,725 779,598 |
Proceeds Cost Profit/Loss Units £ £ £ Disposals 9,263 5,973 3,290 26,023 15,706 10,317 4,951 2,876 2,075 214 256 460 255 557 826,872 721,418 105,454 |
Cost Value Income £ £ £ Closing 47,340 97,570 - 55,333 117,623 209 35,396 92,086 1,300 59,565 92,170 1,112 74,777 102,145 - 2,622,792 3,469,604 30,951 |
|---|---|---|
9