Charity Registration No. 1126815
THE SIERATZKI CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 10 AUGUST 2022
THE SIERATZKI CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 2 - 4 |
Independent examiner's report |
5 |
Statement of financial activities |
6 |
Balance sheet |
7 |
Statement of cash flows |
8 |
Notes to the financial statements |
9 – 14 |
THE SIERATZKI CHARITABLE TRUST
TRUSTEES AND PROFESSIONAL ADVISERS
| Charity number | 1126815 |
|---|---|
| Trustees | Dr Jechil Sieratzki MRCP |
| Professor Bencie Woll FBA | |
| Mrs Luba Selzer | |
| Principal address | 39 Parkside Knightsbridge London, SW1X 7JP |
| Independent examiner | M. Emanuel |
| Chartered Accountants | |
| 5 Lexham Gardens Mews, | |
| Kensington, | |
| London W8 5JQ | |
| Bankers | Lloyds TSB |
| 9-13 Brompton Road | |
| Knightsbridge | |
| London SW3 1ED | |
| Broker | Investec Wealth & Investment Ltd. |
| 30 Gresham Street | |
| London | |
| EC2V 7QN |
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THE SIERATZKI CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 10 AUGUST 2022
The Trustees present their report and financial statements of The Sieratzki Charitable Trust for the year ended 10 August 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2015) as amended by Update Bulletin 1 (updated 2 February 2016).
Reference and administrative information: The Sieratzki Charitable Trust is registered as a Charity with the Charity Commission, registration number 1126815.
The Trustees in office during the year and at the date of this report, together with the address of the Charity's principal and registered office, are as set out on page 1.
Structure, governance, and management: The Trust was created by a deed dated 11 August 2008 as a Trust exclusively for charitable purposes. The Trust is managed by the Trustees, and the administration is carried out from the Trustees’ registered office.
The current Trustees are responsible for the induction of any new Trustees which involves awareness of a Trustee’s responsibilities, the governing document, administrative procedures, and the history of the Charity. A new Trustee would receive a welcome pack which includes copies of the previous years’ annual report and accounts, a brief history of the Charity and a copy of the governing document. The pack will also include a copy of the Charity Commission guidance “Charity Trustee Welcome Pack” issued by the Charity Commission on 30 April 2018.
The Trustees have systems in place to identify any conflicts of interest that may occur. When a conflict of interest arises, the relevant Trustee or Trustees agree to withdraw from any discussion and decision.
The Trustees examine the major risks that the Charity faces every financial year and have developed systems to monitor and control these risks to mitigate any impact they may have on the Charity in the future.
Objectives and activities for the benefit of the public The Charity's objects are to advance, promote or carry out such charitable purposes as the Trustees in their absolute discretion from time-to-time think fit.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit and the requirements under the Charities Act 2011, when reviewing the Charity's aims and objectives and in planning for the future and in setting the grant making policy for the year.
The Charity has established its grant making policy to achieve its objects for the public benefit.
The Trustees received applications for donations from a wide variety of charitable institutions. The Trustees considered all requests which they received and meet the objects of the Charity by making donations to relevant charities.
-2-
THE SIERATZKI CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 10 AUGUST 2022
Achievements and performance: The Trustees meet regularly to consider applications from charitable organisations. The Trustees consider each application on merit and make grants where appropriate.
In the year, the Trustees made donations to 23 charities (2021: also 23 charities) , amounting to £90,642.00 (2021: £42,925.00) to registered Charities involved in education, religion, human rights, and social welfare.
Financial review:
In the year, the Charity generated income of £61,013.03 (2021: £41,088.88). The Trustees made charitable donations of £90,642.00 (2021: £42,925.00) and incurred governance costs of £3,838.64 (2021: £3,715.62). The net income amounted to £296,532.39 (2021: £114,448.26) and the net movements in funds amounted to £360,867.27 (unrealised losses) (2021: £296,602.74 (unrealised gains)). The unrestricted funds amounted to £1,108,347.00 (2021: £1,469,214.27) at the balance sheet date.
The Trustees seek to secure a good income return while maintaining the capital value against the effects of inflation. Any monies not immediately required for the furtherance of the Charity’s objects may be invested by the Trustees in those shares, securities or property as may be thought fit. The market value of the investments held at 10 August 2022 was £488,177.34 (2021: £1,145,577.00). Losses on investments for the year amounted to £657,399.66 (2021: £182,154.48 (unrealised gains)) and occurred due to a massive reduction in value of the JP Morgan Russian Securities Fund which the Charity had already foreseen in the Financial Statements for the year ending 10 August 2021.
Future developments: The Charity intends to continue its activities within the constraints of its budget.
Reserves policy: All of the Charity’s funds are general unrestricted funds which are expendable at the discretion of the Trustees in furtherance of the objects of the Charity. The unrestricted funds at 10 August 2022 were £1,108,347.00 (2021: £1,469,214.27). The Trustees consider that the unrestricted funds, which are the free reserves of the Charity, are sufficient to fund future activities.
The Trustees review the reserves policy annually.
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THE SIERATZKI CHARITABLE TRUST TRUSTF.ES' REPOR"I' (CONTtNUED) FOR THE YEAR ENDED 10 AUGUST 2022 Statement of Trusiees, Teswnsibilities: The Trustees are re5FKJnsible for prepring the Trustees, Rep)rt and the rinan¢io1 siatements in a¢¢ordance with applicable law United Kingdom Accounting Standards (United Kingdom tienerally Accept¢d Accounting Prn¢iice). The law applicable io charities in England and Wales requires the l rnstees to prepare financial statements for each finanetal year which give a true and fair view ofthe slaie of affairs of the Clwity and of the incoming resources and appli¢2tion of resources of the Charity for that ye•r. In preparing these financial statemenls. Ihe Trnstees are required to: - select suitable aceounting poli¢ies and then apply them consisiently- - observe the methiKis and principles in the Charili¢s SORP. - make judgements and estimates that ar¢ r¢asonable and prudent; - state whether applicable accounting standard5 have ken followed, subject to any material departuffs disclosed and ¢xplained in the fjnancial statements- and - prepare the financial stslem¢nts on the going concern basis unless it is inappropriate to presum¢ that the charity ill continu¢ in operation. lkne Trustees are responsible for keeping 8ufficient accounting Tecords ihat disclose with r¢a50nab]e aurd¢Y ai any tin]e th¢ financial position of the Charity. and enable th¢m to ensure that the financial stateTn¢nts comply with the Charities Act 2011. the Charity (Accounts and Rerts} R¢gulaiions 2008 and th¢ ]MDViSiOnS of the trnst deed. Thcy are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of frdud and h¢T irregularitie5. The Trustees. rwrt was approved by the Board of TrU¢¢s. echil Sierd Trustee Tred.. Prof. Bencie Woll Trustee
THE SIERATZKI CHARITABLE TRUST INDEPENDENT EXAMtNER'S RF.PORT TO THE TRUSTEES OF THE SIERATZKT CHARITABLE TRUST I rew>rt to the Trustees on my examination of tk financial ststLin¢nts of The Sieratrki Charitable Trust (thc Charity) for Éhe year endcd l O Augu 2022 whi¢h are Set out on pages 6 to 14. This report is made solely to the Charitv's Trusl¢es. as a kndy, in accordance with section 145 of the Charilies Act 201 l. My work has been undertaken thai I might stale to the Charity's Trnstccs those mattcrs l am required to s¢ate to them in this report and for no other purtx)se. To the fullest extent perniitted by law. I do not acce0 or assume responsibility to anyone other than th¢ Charity and the Charity's Trnstees as a iM)dy, for my work. for this re)rt, or for the opinions I have fomed. Responsibilities and basis of rewrt As the Trusie¢s of the Ch8rity you are responsible for the preparntion of the financial statcments in accordance with thc requiretnents of the Charities Act 2011 (the 2011 Act). I report in re$ct of my examination of the Chariry's financial statements carried out under section 145 of the 2011 Act. In earrying out my examination I ha%e folloNved all the applicable Directions given by the Charity Commission under scction 145(5Xb) of the 2011 Act. An indepcndent examination does not involve gaiheriThg all the evidence that would be required in an audit and consequently does not cover all th¢ mattcrs thai an auditor ¢onsidcrs in giving their opinion on th¢ financial statements. The planning and condu¢t of an audil goes iyond thc limited assurdnce that an indep¢ndent examinaiion can provide. Conscquently, S express no opinion as to .hether the financial statements present a 'trne and fair. view and my report is limited to those spe¢ifi¢ matters set out in the ind¢pendenl examiner's staten]ent. Indcpendent examinews statement SinL¢ Ihe "frusi's gross income exceedoj £25.000 your ¢nIner must be a member of a body listed in Section 145 ot.the 2011. I confiTTll thai I am qualified to und¢rt2ke the eydmination because E am a member of ICAEW, which is one of the listed bodies. I have complcied my examination. I confwm that no matters hav¢ come to my attention in connection with the xamination givin8 me cause to belieie that in anv malerial resp¢ct= l ) a¢counling records were not kept in ffspect of ihe Charity as required by section 130 of th¢ 2011 Ac¢ or 2) Ihe financial statcmenis do not accord with thos¢ records; or 3) the financial statements do not comply with the applicable r¢quirements concerning th¢ fonn and content of accounts sd oui in the Charities {AcciTrunts and R¢rts} Regulations 2008 other than any requirement that the accounts give a truc and fair view which is not a matter considered as part of an indryndent examination. I have no concerns and have come across no other mattcrs in Connection with the examinatton to which attention should bc draw'n in this r¢p)rt in order to enable a protKr understsnding of the financial statements lo be reached. Dated:... M. Eare1. Cbartered Aceounlants
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THE SIERATZKI CIL4RITABLE TRUST BALANCE SHEET AS AT 111 AUGUST 2022 2022 2021 Notes ftxed a59ets Investments 488.177.34 1,145.577.(M) Crrtttt assets Cash at bank and in hand 623.769.66 326.037.27 623.769.66 326.037.27 Credleors: mounts falling due vithin one ye8r io .3.6(K) (Kl -2,4¢Mb.¢M) Nct currcnt assels 620.169.66 323.637.27 Total gssets le55 curr¢Dt ligbilitt¢s 1.108J47 (Kl 1.469.214.27 Net Sets 1.108.347.00 1.469.214.27 Income Unrestricted funds 1,108,347.00 .469,214.27 1 108347. 1469 214.27 The fmancial stattrnents were arqjroved by the Tnlskes Chil Sierat Trustee Pmf. Bencie Woll Tnts*e The ¢$ on pages 9 to 14 fonn part of these financial ststernents.
THE SIERATZKI CHARITABLE TRUST
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 10 AUGUST 2022
| 2022 2022 2021 2021 Notes £ £ £ £ Cash flows from operating activities Net income for the reporting year 360,867.27 - 296,602.74 Decrease/(increase) in debtors 0.00 4,058.07 Increase (decrease) in creditors 1,200.00 1,200.00 Donations & Legacies 330,000.00 - 120,000.00 - Interest and dividends received 61,013.03 - 38,573.26 - Unrealised loss/(gain) on revaluation of investments 657,399.66 182,154.48 - Net cash generated from/(used in) 267,586.63 -335,469.67 operating activities Cash flows from investing activities Investment income 61,013.03 38,573.26 Donations & legacies 330,000.00 120,000.00 Additions of investments 0.00 114,094.72 - Net cash generated from investing 391,013.03 44,478.54 activities Cash flows from financing activities 297,732.39 5,611.61 Repayment of loans 0.00 -63,546.12 Net cash used in financing activities 0.00 -63,546.12 Cash & cash equivalents in the reporting year 297,732.39 -57,934.51 Cash and cash equivalents at beginning of year 326,037.27 383,971.78 Cash and cash equivalents at end of year 623,769.66 326,037.27 Analysis of net funds Cash at bank and in hand 623,769.66 326,037.27 Total cash and cash equivalents 623,769.66 326,037.27 The notes on pages 9 to 14 form part of these financial statements. |
2022 2022 2021 2021 Notes £ £ £ £ Cash flows from operating activities Net income for the reporting year 360,867.27 - 296,602.74 Decrease/(increase) in debtors 0.00 4,058.07 Increase (decrease) in creditors 1,200.00 1,200.00 Donations & Legacies 330,000.00 - 120,000.00 - Interest and dividends received 61,013.03 - 38,573.26 - Unrealised loss/(gain) on revaluation of investments 657,399.66 182,154.48 - Net cash generated from/(used in) 267,586.63 -335,469.67 operating activities Cash flows from investing activities Investment income 61,013.03 38,573.26 Donations & legacies 330,000.00 120,000.00 Additions of investments 0.00 114,094.72 - Net cash generated from investing 391,013.03 44,478.54 activities Cash flows from financing activities 297,732.39 5,611.61 Repayment of loans 0.00 -63,546.12 Net cash used in financing activities 0.00 -63,546.12 Cash & cash equivalents in the reporting year 297,732.39 -57,934.51 Cash and cash equivalents at beginning of year 326,037.27 383,971.78 Cash and cash equivalents at end of year 623,769.66 326,037.27 Analysis of net funds Cash at bank and in hand 623,769.66 326,037.27 Total cash and cash equivalents 623,769.66 326,037.27 The notes on pages 9 to 14 form part of these financial statements. |
2022 2022 2021 2021 Notes £ £ £ £ Cash flows from operating activities Net income for the reporting year 360,867.27 - 296,602.74 Decrease/(increase) in debtors 0.00 4,058.07 Increase (decrease) in creditors 1,200.00 1,200.00 Donations & Legacies 330,000.00 - 120,000.00 - Interest and dividends received 61,013.03 - 38,573.26 - Unrealised loss/(gain) on revaluation of investments 657,399.66 182,154.48 - Net cash generated from/(used in) 267,586.63 -335,469.67 operating activities Cash flows from investing activities Investment income 61,013.03 38,573.26 Donations & legacies 330,000.00 120,000.00 Additions of investments 0.00 114,094.72 - Net cash generated from investing 391,013.03 44,478.54 activities Cash flows from financing activities 297,732.39 5,611.61 Repayment of loans 0.00 -63,546.12 Net cash used in financing activities 0.00 -63,546.12 Cash & cash equivalents in the reporting year 297,732.39 -57,934.51 Cash and cash equivalents at beginning of year 326,037.27 383,971.78 Cash and cash equivalents at end of year 623,769.66 326,037.27 Analysis of net funds Cash at bank and in hand 623,769.66 326,037.27 Total cash and cash equivalents 623,769.66 326,037.27 The notes on pages 9 to 14 form part of these financial statements. |
2022 2022 2021 2021 Notes £ £ £ £ Cash flows from operating activities Net income for the reporting year 360,867.27 - 296,602.74 Decrease/(increase) in debtors 0.00 4,058.07 Increase (decrease) in creditors 1,200.00 1,200.00 Donations & Legacies 330,000.00 - 120,000.00 - Interest and dividends received 61,013.03 - 38,573.26 - Unrealised loss/(gain) on revaluation of investments 657,399.66 182,154.48 - Net cash generated from/(used in) 267,586.63 -335,469.67 operating activities Cash flows from investing activities Investment income 61,013.03 38,573.26 Donations & legacies 330,000.00 120,000.00 Additions of investments 0.00 114,094.72 - Net cash generated from investing 391,013.03 44,478.54 activities Cash flows from financing activities 297,732.39 5,611.61 Repayment of loans 0.00 -63,546.12 Net cash used in financing activities 0.00 -63,546.12 Cash & cash equivalents in the reporting year 297,732.39 -57,934.51 Cash and cash equivalents at beginning of year 326,037.27 383,971.78 Cash and cash equivalents at end of year 623,769.66 326,037.27 Analysis of net funds Cash at bank and in hand 623,769.66 326,037.27 Total cash and cash equivalents 623,769.66 326,037.27 The notes on pages 9 to 14 form part of these financial statements. |
|---|---|---|---|
| 38,573.26 120,000.00 114,094.72 - |
|||
| -63,546.12 | |||
| 297,732.39 0.00 |
5,611.61 -63,546.12 |
||
| 297,732.39 326,037.27 |
-57,934.51 383,971.78 |
||
| 623,769.66 | 326,037.27 | ||
| 623,769.66 623,769.66 |
326,037.27 | ||
| 326,037.27 | |||
THE SIERATZKI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 10 AUGUST 2022
1 Accounting policies Charity information:
The Sieratzki Charitable Trust is an unincorporated Trust. Its principal place of business is Flat 39 Parkside, Knightsbridge, London, SW1X 7JP.
1.1 Accounting convention
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with section 1A of the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.
The financial statements have been prepared to give a ‘true and fair view’ and have departed from the Charities (Accounts and reports) Regulations 2008 only to the extent to provide a ‘true and fair view’. The departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities Statement of Recommended Practice effective from 1 April 2015 which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Charity.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
1.4 Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including governance costs are allocated to applicable expenditure headings.
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
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THE SIERATZKI CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 10 AUGUST 2022
1. Accounting policies
(Continued)
1.6 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable entity for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied exclusively to its charitable purposes.
1.7 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.8 Financial instruments
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12. ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
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THE SIERATZKI CHARITABLE TRUST
NOTES FOR THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 10 AUGUST 2022
2 Donations and legacies
| Donations Gift Aid received 22/10/2021 Gift Aid received 19/07/2022 |
Total 2022 £ 240,000.00 30,000.00 60,000.00 330,000.00 |
Total 2021 £ 120,000.00 0.00 0.00 |
|---|---|---|
| 120,000.00 |
The Charity received in January 2022 a donation of £240,000 from Dr J Sieratzki, as well as gift aid of £30,000 from a donation of £120,000 from Dr J Sieratzki in January and gift aid of £60,000 from the January 2022 donation of £240,000.
3 Investment income
| Income from listed investments UK bank interest Charitable activities Analysis of charitable activities Grants (4.2) Governance costs (4.1) |
Total 2022 £ 60,955.73 57.30 61,013.03 Total 2022 £ 90,642.00 3,838.64 94,480.64 |
Total 2021 £ 41,060.37 28.51 |
|---|---|---|
| 41,088.88 | ||
| Total 2021 £ 42,925.00 3,715.62 |
||
| 46,640.62 |
4 Charitable activities Analysis of charitable activities
4.1. Governance costs
The breakdown of support costs and how these are allocated between Governance and Charitable Activities is shown in the table below.
| Cost type Investment Account charges Independent examination fees |
Governance costs 2022 £ 2,638.64 1,200.00 3,838.64 |
Governance costs 2021 £ 2,515.62 1,200.00 |
|---|---|---|
| 3,715.62 |
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THE SIERATZKI CHARITABLE TRUST
NOTES FOR THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 10 AUGUST 2022
| 4 Charitable activities 4.2. Grants payable Grants during the year comprise: Academic Study Group John Levy Aleh Charitable Foundation Belsize Square Synagogue British Friends of Bar Ilan University British Friends of Ben Gurion University British Friends of Haifa University British Friends of Hebrew University Jerusalem British Friends of Ohel Sarah British Friends of United Hatzalah Eastbourne Hebrew Ezras Nitrochim Friends of Yad Sarah Israel Guide Dog Israel Sports Disabled London School of Jewish Studies Magen David Adom UK New Israel Fund New West End Synagogue Noam Prism Prostate Cancer UK Resource Royal Marsden Sephardi Voices Tel Aviv University Tikva Childrens' Home UK Friends of Schneider Childrens Hospital World Jewish Relief Western Marble Arch Synagogue ZVS Food Liveline Trust |
(Continued) Total 2022 £ 970.00 1,860.00 1,045.00 1,250.00 18,000.00 250.00 36,500.00 11,400.00 0.00 0.00 500.00 500.00 50.00 250.00 3,000.00 0.00 750.00 1,000.00 0.00 0.00 50.00 0.00 0.00 1,250.00 250.00 1,610.00 50.00 7,720.00 1,887.00 500.00 90,642.00 |
Total 2021 £ 320.00 960.00 1,940.00 380.00 0.00 250.00 30,000.00 710.00 200.00 50.00 550.00 480.00 0.00 0.00 0.00 430.00 780.00 50.00 1,800.00 1,800.00 0.00 360.00 100.00 0.00 100.00 480.00 0.00 360.00 100.00 725.00 |
|---|---|---|
| 42,925.00 |
All of the above donations were made to institutions
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THE SIERATZKI CHARITABLE TRUST
NOTES FOR THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 10 AUGUST 2022
5 Trustees
In the year ended 10 August 2013, Dr. Jechil Sieratzki gave an interest free unsecured loan to the Charity of £650,000. The balance of the loan is repayable on demand within 28 days notice, and may be paid back in instalments. As of 10 August 2021, the loan outstanding to Dr. Jechil Sieratzki was £ 0 (2021 £0).
6 Employees
There were no employees during the year or the previous year.
7 Fixed asset investments
| Market Value at 10 August 2021 Additions unrealised losses/gains on investments Market Value at 10 August 2021 Investments held are analysed as follows: Equities Investments comprising 2% or more of the total market value of investments are as follows:- JP Morgan Russian Securities Royal Dutch Shell A Royal Dutch Shell B Fundsmith HBM N 8 Financial Instruments Carrying amount of financial assets Debt instruments measured at amortised cost Equity instruments measured at market value Carrying amount of financial liabilities Measured at amortised cost |
Listed investments 2022 £ 1,145,577.00 0.00 657,399.66 - 488,177.34 488,177.34 % 20.30 34.36 9.85 30.70 4.79 2022 £ 0.00 488,177.34 488,177.34 3,600.00 |
Listed investments 2021 £ 849,327.80 114,094.72 182,154.48 |
|---|---|---|
| 1,145,577.00 1,145,577.00 |
||
| % 70.52 10.07 2.84 14.14 2.44 2021 £ 0.00 1,145,577.00 |
||
| 1,145,577.00 | ||
| 2,400.00 |
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THE SIERATZKI CHARITABLE TRUST
NOTES FOR THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 10 AUGUST 2022
| 9 | Debtors: amounts falling due within one year | Debtors: amounts falling due within one year | ||||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| £ | £ | |||||||
| Investment income | 0.00 | 0.00 | ||||||
| 10 | Creditors: amounts falling due within one year | |||||||
| 2022 | 2021 | |||||||
| £ | £ | |||||||
| Dr. Jechil Sieratzki | 0.00 | 0.00 | ||||||
| Independent examiner | 3,600.00 | 2,400.00 | ||||||
| 3,600.00 | 2,400.00 | |||||||
| 11 | Movements in funds | Opening | Incoming | Resources | Unrealised net | Closing | ||
| funds | resources | **expended ** | gains/(losses) | funds | ||||
| on investment | ||||||||
| £ | £ | £ | £ | £ | ||||
| Unrestricted funds | ||||||||
| 2021 | 1,172,611.53 | 161,088.88 | - | 46,640.62 |
182,154.48 | 1,469,214.27 | ||
| 2022 | 1,469,214.27 | 391,013.03 | - | 94,480.64 |
657,399.66 - |
1,108,347.00 | ||
| 12 | Analysis of net assets between funds | 2022 | 2021 | |||||
| £ | £ | |||||||
| Fund balances at 10 August are | represented by:- | |||||||
| Investments | 488,177.34 | 1,145,577.00 | ||||||
| Current assets | 623,769.66 | 326,037.27 | ||||||
| Current liabilities | - | 3,600.00 |
- | 2,400.00 |
||||
| Long term liabilities | 0.00 | 0.00 | ||||||
| 1,108,347.00 | 1,469,214.27 |
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