Raymond and Beverly Saclder Foundation
(A company limited by guarantee)
Trustees, Report and Audited
Financial Statements
Year ended: 31 December 2023
Company Number: 06802985
Charity Number: 1128918

Raymond and Beverly Sackler Foundation
Reference and administrative details
Com
an
Number: 06802985
Chari
Number:
1128918
Directors and Trustees
Dr Richard S. Sackler
Stephen J. Jamieson
Anthony Collins
Princi
al and Re
83 Cambridge qtreet
Pimli¢o
London
SWIV4PS
istered Office Address
Aecountant8
ManaiTenient Revisions Limited
60 Gray's Inn Road
London
WCIX 8LU
Auditors
George Ila), & Coinpai)y
83 Cambridge Street
Pimlico
London SWIV 4PS
Bankers
C. Hoare & Co
37 Fleei Street
Llindon EC4P 4DQ

Raymond and Beverly Sackler Foundation
Trustees, Report
Incorporating Directors, Report
The Trustees present their report and accounts of Raymond ai)d Beverly Sackler Foundation (the"Foundation") for
the year ended 31 December 202i.
Trustees and Dircctors
The Direciors of the Foundation are also Trustees of the Foundation and throughout this report are referred to as
Trustees. The Trustees serving during the year were Dr Richard S. Sackler, Stephen J Jamieson and Anthony
Collins.
Structure Govcrnancc and Mana
Governin
InstrLiment
The Foundation was incorporated under the Companies Act 1985 as a private company limited by guarantee under
niimber 06802985 on 27 January 2009. The Foundation obtained charitable sta￿S under the Charities Act 1960 on
31 March 2009, and it is r¢£istered as a charitv under number 1128918. The Foundation is governed by its
Memorandum and Articles of Association.
cment
Ob-ectives and Activities
As 5Ct out in the objccts coiitained in tlie Foundation s memorandum of association, the principal object of the
Foundation 15, aiid will contiiiue to be, the advancement of research and education in England and Wales and
elsewhere in the fields of art, science and medical research and any otlier charitable object5 as the Trustees shall, at
their discretion, decide according to the laws of Eiigland and Wales. Grant application5 are 5crutini5ed to ensure
compliance M'ith the Foundation s stated object5. The Trustees coiifim] they have complied with the duty. in
section 17 of the Charitie5 Act 2011 to have due regard to public benefit guidance published by the Cornmi5sion.
Grant-makin
olic
It is the policy of tlie TTUSt to review applications from charitable organi5ations and to make grants oli a selective
basis.
Achievements and Performance
As show'n on page 12, the Foundation's charitable commitments in the year increased by £949 from the impact of
exchange difference (2022.. net increase of £25.983).
ointment of Trustees
Trustees are appoinied by Resolution of the Members of Ihe FL)undation.
Trustee activities
The Trustees are supported in their activities by their professional advisers and attend Ttijstee meetings.
Mana
7ement and or
Fanisation
The F'oundation has no eniplo}'ees. The administration of the Foundation is dealt with b}, the Triistees and
supported by their professional advisers. These services are provided free of charge bv the Trustees.
Risk mana
ement
The Triistccs havc cxamined the major strategic. busines5 and operational risks which the Foundation faces and
confirin that systems have been established so that the necessary steps can be taken to lessen these risks. These are
kept under reg7ular review.
CutTenc
risk
Curreiicj. risk 15 the risk that the value of a financial instrument will fluctuate because of chan¥e5 iii forei¥n exclian¥e
rates. Accordin¥lv, the value of such instrunients ￿a), be affected favourably or unfavourably by fluctuations in
cU￿eliCY rates. The CUTreiicy risk sen51tivity aiialy5is ha5 Ilot been disclosed because the impact 15 not material.
Interest rate risk
Interesi rate risk arises from the possibility that changes in interest rates will affect future cash flows or the fair
values of financial instruments. As at 31 December 2023, the Foundation is exposed to interest rate risk on the
payment of Grants in instaln)ents over an extended period. The interest rate risk sensitivity analysis has not been
disclosed because the impaci is not Inaterial.

Raymond and Beverly Sackler Foundation
Trustees, Report (Continued)
Other ma
or risks
The Foundaiion's outstanding charitable commitments are expected to be met out of current resources and future
income. The Trustees have identified rto other major risks.
Financial Review
Financial
osition
The accounts have been prepared in accordance with the revised Statement of Recommended Practice, Accounting
and Reponing by Charities (SORP 2019). The Trustees have taken advantage of the small company exemptions in
the preparation of this report.
The net increase in funds for the year was £50.194 and was added from Ihe funds balance at the beginning of the
year to give a balance carried fon6.ard at the end of the year of £1,782,652 (for the year ended 31 December ?022
the net decrease of £25,170 was deducted to give a funds balance of £1,732,458). These funds are unrestricted and
will be applied to meeting the Foundation's committnents and aiiy other donations in the coming year.
The Trustees report that..
l. The Foundation has sufficient funds to cover its imtnediate and ￿tUre comniitments out of current resources.
As set out in page 12 oiit5taiidiiifT coniinitinents at the )'ear end were £14,135 of which £4,712 is payable in
2024. The reniainingF £9,423 is the total of i11stalmeiits pa}'able in accordance with a gjift agFreetnent to be paid
durintw the years 2025 to 2028.
2. The Foundation s a%%ets are held in order to ￿rther its obje¢tiv¢s and all funds received have been or will be
applied to the achievenient of those objectives.
3. The Trustees have performed a review of the Foundaiion's ability to ¢ontinue as a going ¢on¢¢rn. In their
opinion the Foundation will be able to continue in operational existence for the fores¢¢able future.
Reserves
olic
The Foundation does not make full disiribution of its income in each year bui works to a broad policy of making
full distribution of its income over the medium to long term.
Investment olic
SuTpIu5 ￿ndS are retained in cash deposits.
Trustees, Res
onsibilities Statement
The Trustee5 {who are also the directors for the purpose of coinpaiiy law) are resp0115ible for preparing tl)e Annual
Report and the finaiicial statemeiits in accordance with applicable law aiid regFulations. Company law requires the
Trustees to prepare finaiicial statenients for each financial y'ear. Under that law the TTUStee5 have elected to
prepare the fii)ancial statement5 in accordaiice ivith Uiiited Kingdoni Generally Accepted Accouiitings Practice
(United Kii)gdtsm Accounting Stai)dards and applicable law). Under company law. the Trustees n)ust not approve
the accounts unless they are satisfied that they give a true and fair view of the state of al'tairs of the charitable
compan}, ai)d of the incoining resources and application of resources, includii)g the income and expendituie of the
charitable con)pan), for that period. In preparii)g those Iinancial statements, the Trustees are required to..
Select 5Ultable accouiiting policies aiid then apply theni consistently
Observe the methods aiid prit]ciples in the Charitie5 SORP,.
Make judgements and estimates that are reasonable and prudent;
State whether applicable UK Accounting Standards have been followed. subject to any material
departures disclosed and explained in Ihe financial siatemenis, and;
Prepare the financial stateinents on the gtsing conceTn basis uiiless it is inappropriate to presume that the
Trust will Continue in operation.
The Trusiees are responsible for keeping adequate accountino records ihat are sU￿1¢ien1 to show and explain Ihe
charitable compan5J S transaciions and disclose with reasonable accuracy at any time the financial posiiion of the
charitable compan5J and enable them 10 ensure that the financial s[a￿Men[S complv with the Companies Act 2006.
They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.

Raymond and Beverly Sackler Foundation
Trustees, Report (Continued)
Trustees, Res
onsibilities Statement
continued
The trustees confim) that so far as they are aware, there is no relevant audii infomjatioi) (as defined by sectioii
418(31 of the Companies Act 20061 of which the charitable company's audiiors are unaware. They have taken all
Ihe steps that Ihey oughi to have taken as trusiees in order to make Ihemselves aware of any relevant audit
informaiilin and to esiablish that the charitable company's audiilirs are aware L)f that information.
On behalf of the Board..
Name..
STEPHEN JAMIESON
ANTHONY COLLINS
Date=
30 OCTOBER 2024
30 OCTOBER 2024

Raymond and Beverly Sackler Foundation
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
RAYMOND AND BEVERLY SACKLER FOUNDATION
Opinion
We have audited the financial staiemenis of Raymond and Beverly Sackler Foundation ("the Charithble Compan) I for the
year ended 31 December 2023 w,hich comprise Statement of Financial Aciivities. the Balance Sheet and the related notes
to the financial statements, including a summary of significant accouniing policies. The financial reponing framework that
has been applied in their preparaiion is applicable law and Uniied Kingdom Accounting Siandards (United Kingdom
Generally Accepted Accounting Praciicel. including FRS 102 "The Financial Reporting siandard applicable in the UK and
Republic of Ireland"
In our opinion the financial statements..
give a trne and fair view of the state of the Charitsble Company's affairs as at 31 December 2023 and of its incoming
resources and application of resources, includiiig its inconie and expenditure, for the year then et]ded.
have been properly prepared in accL)rdance with United Kingdom Generally Accepied Accounting Practice., and
have been prepared in accordance with tlie requireinent5 of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance i￿1th International Standards on Audiiing (UK) (ISAS (UK)} and applicable law. Our
responsibilities under those standards are further described in the 'Audiior's responsibilities for the audit of the financial
statements" section of our report below. We are independent of the Charitable Company in accordance with ihe ethical
requirements that are relevant to our audit of the financial staiements in ihe UK. including the FRC'S Ethical Standard and
'e have fulfilled our other ethical responsibilities in accordance with these requirements.
We believe that the audit evidence ￿e have obtained is sufficient and appropriate to provide a basis for our opinion.
Concluslolls relating to going concer
In auditiiig the financial stateinent5, ￿¢ have concluded that the trustees, use of the going concern basis of accounting ii)
the preparation of the finaiicial statemeiits is appropriate.
Based on the work we have perfomied. we have not identified ai)y material uncertainties relatii)g to events or conditions
that, individuallv or colleciively, may casi significant doubt on the entity's abiliiy to continue as a going concern for a period
of ar least iwelve monihs from when the financial sta￿MentS are authorised for issue.
Our responsibiliiies and Ihe responsibilities of the trusiees with respect to going concem are described in Ihe relevant
sections of this report.
Other information
The other information comprises the information included in the annual report set out on pages I to 4, other than the
financial statements and our auditor's report thereon. The trustees are responsible for the other information.
Our opinion on the financial stateinent5 does not cover the otlier infotynatioii and. except to the extent otherwise explicitly
stated in tlii5 reporL we do not express any form of as5uraiice conclu5lOn thereon.
In connettion with our audit of the financial statements. our responsibility is to read the other information and, in doing so,
coi)sider whetl)er the other inlorination is materially inconsistent w'ith the financial statements or our knoNwledge obtained
in the audit orotherwise appears to be materially misstated. If we identify such material inconsistencies or apparei)t inaterial
misstatements, we are required to deiermine wheiher there is a material misstatement in Ihe financial statements or a
material misstatement of the oiher infonnation. If, based on the work we have perflirnied, we conclude that there is a
material missiatement of the other information, we are required to report thai fact.
We have nothing ILI report in this regard.
Opinion on other matters prescrib¢d bv the Companies Act 2006
In our opinion, based on the work iindertaken in the course of the audit..
the information given in Ihe tNsiees' repori, which includes the directors, report prepared for company law purposes.
for the financial year for which ihe financial statements are prepared is consis￿nt with the financial statements., and
the director5 report included withiii the tru5tees' report has been prepared in accordance with applicable legal
requirements.

Raymond and Beverly Sackler Foundation
IINDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
IL4YMOND AND BEVERLY SACKLER FOUNDATION
Matters on whieh we are required to report by exetption
In light of the knowledge and understanding of the Charitable Company and its environment obtained in Ihe course of the
audit, we have identified no Ma￿rial misstatements in the TrUs￿es, Report.
We have nothing to report in respeci L)f ihe following matteTS where Ihe Companies Act 2006 requires us to report to you
if, in our opinion..
adequate accounting records have not been kept or returns adequate for ouraudit have noi been received from branches
not visited b}. us; or
the financial statements are not in agreement with the accouniing reclirds and retums: or
certain disclosures of trustee5' reTnuiieration specified by laiy are not made,. or
we have not received all the information and explanations we require for our audit.
Responsibilities oltrustees
As explained more fullv in the Trustees. Responsibilities Stateinent set out on page 4. the trustees (who are also the directors
of Ihe Charitable Compan}. for the purposes of compan}. laiv) are responsible for the preparation of the financial statements
and for being satisfied that they give a true and fair view, and for such internal control as the trustees detennine is necessary
to enable the preparation of financial staiements ihat are free from maierial misstatement, whether due 10 fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the charitable company's ability to continue
as a going concem. disclosing. as applicable, matters related to going concem and using the going concern basis of
accounting unless the trusiees eiiher intend tLI liquidate the charitable company or to cease Liperations, or have no realisiie
alternative but to do so.
Auditor's responsibilities for the Audit of the financial statements
Our objectives are to obtaiii reasonable assuraiice about wlietlier the finanLial statement5 a5 a w'hole are free froin Inateriiil
misstaiement, whether due to fraud or error. and to issue ai) auditor's rewrt that includes our opinion. Reasonable assurance
is a high level of assurance, but is not a guarantee. that an audii conducied in accordance with ISAS IUKI will alw'a5Js detect
a maierial misstatement when li exists. Missthiements can arise from fraud or error and are considered maierial if,
individually or in the aggregate. they could reasoi)ably be expected to influence the economic decisions of users taken on
the basis of these financial sta￿mentS.
Based on our understanding of the charitable company's operations. we identified that the principal risks of non-compliance
with laws and regulations relgtes to grant making. We considered the extent to which non-compliance might hgve a material
effect on the financial statements that results in the situation th91 no further grant funding ¢an be provided. We also
Considered Ihe relevant laws and regulations th81 have a direct impact on the preparation of the financial statements.
We are required to evaluate management's incentives and opportunities for fraudulent Tnanipulation of the financial
statements (including the risk of override of controls). We found there were no principal risks directly impacting the
chaiitable coinpany's income and inanaueinent bias iii accounting estimates. Audit procedures perfotyned by the en¥a¥einent
teatn included..
Discussions with n)anagement including consideration of knowi) or suspected instances of non•compliance with laws
and regulation and fraud:
Evaluating management's controls designed to prevent and detect irregularities.,
Identifying and testing jliurnals. in particularjournal entries posted with unusual aecountcombinations or with unusual
descriptions; and
Challenging assumptions and judgements made by management in their critical accounting estin)ates.
Becaus¢ of th¢ inherent limitations of an audiL there is a risk thatM'¢ will not detect all irregularities, including those leading
to a tnaterial misstatement in the financial stateinents or non-compliance M'ith regulatioii. This risk increases the more that
compliance with a law or regFulation is removed froin the events and ttan5actions reflected in the financial statements, as
we will be less likely to become aivare of instances of non-conipliaiice.
A further de5criptioii of our responsibilities for the audit of the finaiicial statements is located on the Financial Reporting
Council's Th'ebsite at htt
S'.ilM'ww.frc.or
uk..aiiditorsre5
0115ibilities. This description fom]s part of our auditor s Teport.

Raymond and Beverly Sackler Foundation
IINDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
IL4YMOND AND BEVERLY SACKLER FOUNDATION
Use of our report
This report is made solely to the Charitable Climpany's members. as a kndy. in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitsble Company's members
those matters we are required w state 10 ihem in an auditor's report and for no other purpose. To the fullest extent permitied
b}. law,, we do not accept or assume responsibility to anyone other than the Charitable Companv and Ihe Charitable
Companv's members as a tN)dy, for Liur audit work, for ihis repon. or for the opinions we have fomied.
ANDREW FOX {BA FCA)
Senior Statutory Audiilir
For and on behall'of George Hay & Company. Statutory Auditors
83 Cambridge StreeL Pinilico, London, SWIV 4PS
Date.. 30 OCTOBER 2024

Raymond and Beverly Sackler Foundation
STATEMENT OF FINANCIAL ACTIVITIES
Incorporating Income and Expenditure Accoun¢
For the year ended 31 December 2023
2023
2022
IiYCOMING RESOURCES
Invesiment and similar income
54.088
2,877
TOTAL INCOMING RESOURCES
54,088
2,877
RF.SOIIRC.F.S F.XPEiYDED
ChaTltable activities
3,894
28,047
TOTAL RESOURCES EXPENDED
28.047
IYET INCOME I {EXPENDITUREI
50.194
(25,170}
RECONCILIATION OF FUNDS
Totsl funds brought forward
1,732,458
1.757,628
TOTAL FUNDS C.ARRIED FORM'ARD
1,782,652
1,732,458
All funds received are unrestricted.
There were no other recognised gains or losses.
All amounts derive from continuing activities.
The accompanying notes I fLI 10 fomi an integral part of these Financial Statements

Raymond and Beverly Sackler Foundation
Company Number: 6802985
BALANCE SHEET
At 31 December 2023
2023
2022
Noles
CURRENT ASSETS
Cash at bank
1,801.057
1.834,164
TOTAL ASSETS
1,801,057
1.834,164
CREDITORS.. aniount5 falling due within one year
(9,854)
(89,977)
TOTAL ASSET5 LESS CURRENT LIABILITIES
1,791,203
1,744.187
CREDITORS.. amounts falling due beyond oiie year
IYET ASSETS
1,782.652
1732,458
REPRESEiYTED BY:
FUNDS OF THE FOUNDATIOiY
Unrestricted Funds
1,782,652
1,732,458
TOTAL FUNDS OF THE FOUNDATION
1,782,652
1,732,458
Approved by the Trustees and signed on behalf of the Board by..
Name..
STEPHEN JAMIESON
ANTHONY COLLINS
Dale=
30 OCTOBER 2024
30 OCTOBER 2024
The accompanying notes I ro 10 form an integral part of these Financial Statements

Raymond and Beverly Saclder Foundation
NOTES TO THE ACCOUNTS
At 31 Deeember 2023
ACCOUNTING POLICIES
The principal accounting policies adopted, judgements made and key sources of estimation uncertainty in ihe preparation
of the accounts are as follows..
Basis oluccouiitlllR
The accounts of the Foundation, which is a public benefit entity under FRS 102, have been prepared in accordance with
the Charities SORP (FRS 102)"Accouniing and Reporting by Lharities.. Staiement 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 I, January 2019)" Financial Reporting Standard 102 'The Financial Reporting
Standard applicable in the UK and Republic of Ireland" the Charities Act 2011 and the Companies Act 2006. The
accounts have been prepared under the historical cost convention Th'ith items recognised ai cosi or transaction value
unless otherwise stated in the relevant note(s) to the accounts.
Going concern
No inaterial uiicertainties that cast si£iiificant doubt about the ability of the Foundation to continue as a going concern
have been ideiitified b}, the Trustees. The activities, financial position, cash flow and liquidity position are set out in Ihe
Trnstees, Report and the financial statements. The TNstees have a reasonable expectation that the Foundation has
adequate resoiirces to contiiiue in operation for the foreseeable fu￿re and they thus continue to adopt th¢ going concern
basi5 of accountii)gF in preparing the finaiicial statements.
INcuming re50ufL
All incoming resources are included in the Statement of Finaiicial Activitie5 when the Foundation 15 entitled to the
iiicoine. it 15 probable that the income will be received and the ainount can be quantified with reasonable accuracy. The
followit)g specilic policies are applied to particular categorieg of income..
Voluntary incon)e 15 received by way of bTraTlts, doi)atioiis and gifts aiid is included in full in the Stateinent of
Fiiiancial Activities H,hen receivable. Grants, where eiititlement is not conditional on the delivery of a specific
perfonnance by the Foiindation, are recognised when the Foundation becotnes unconditionally entitled to the
graiit.
Doiiated Se1￿]ceS and facilities are included at the value to the Foundation where this can be quantified. The
value of services provided by volunteers has not been included in these accounts.
Investment income is included when receivable.
Resources ￿pe￿￿ed
ExpenditUTe is recognised on an accwal basis &$ a liability is incurred. Expenditure includes any V A T which cannot be
recovered, and is reported as part of the expenditure to which it relates..
Charitable expenditure comprises those costs incurred by Ihe Foundation in the delivery of its activities and
services for its beneficiaries. It includes both costs that can be allocated direcily to such aciiviiies and those
costs of an indirect nature necessary to support them.
Governance costs include Ihose costs associated with meeting the constiiutional and ststutory requirements of
the Foundaiion and include the accountancy fees and costs linked to the strategic management of the
Foundation.
All costs are allocated between the expenditure categories of the Siaten)eni of Financial Activities on a basis
designed to reflect the use of the resource.
Recognilion ofgranl commilmenlspavable
Grants pavable are charged in the year M,hen the offer is conve}'ed to the recipient. Grants offered subject to conditions
,hich have not been met at the year-end are accrued as expenditure. In accordance M'ith FRS 102, Ihe paTrment of a Grant
in instalments over an extended period is considered to be a 'debi instrument.. The Foundation records its long-term
liabilities li.e. deferred instalments) in the accounts at their discounted present value in orderto attribute an economic value
to the deferral of payment8. As the in%talments are paid, the unwindiiig of the di%count 1% accounted for as a finance ¢harge
in the Ststenient of Financial Activities. A% per FRS 102.11.12, the pre%ent values of deferred instalments are discauntcd
at the reqiiired discount rate, being the market rate for a similar debt instrument. As there is iio such market the Foundation
uses notiongl rates to reflect the top rate of interest available at the Balan¢e Sheet date for deposits of Foundation funds.
10

Raymond and Beverly Saclder Foundation
NOTES TO THE ACCOUNTS
At 31 Deeember 2023
I. ACCOUNTING POLICIES {eontinued)
Foreign Curreiici
Assets and liabilities in foreign currencies are tTanslated into sterling at the rate5 of excliange rulingF at the Balance Sheet
date. Transactions in foreign currencies are tra1151ated into sterlingF at the rate of exchangFe rulingF at the date of the
transaction. Realised aiid unrealised exchanbFe differences are reported in tlie Statenient of Finaiicial Activities and
categorised in line with tlie underlying iiicome or expenditure of the assets or liabilities coi)ceriied. The ￿nCtional and
presentational currency of the Foundation is UK Pouiids Sterliiig.
Casli and Lu&h equlvolenis
Cash and cash equivalents iii the Balance Sheet comprise cash at bank and in hand ai)d short tem deposits with an
original niaturity date of three months or less. For the purpose of the Cash Flow Stateinent, cash and cash equivalents
consist of cash and cash equivalents as defined above. net of outStandiiig bank overdrafts.
LEGAL STATUS OF THE FOUNDATIOF4
The Foundaiion is a company limited by guarantee and has no share capiial. The liability of each member in the event of
a winding up is limited w £10.
3. INVESTMENT AND SIMILAR INCOME
2023
2022
UK bank deposit inierest
54.088
2.877
54.088
2,877
CHARITABLE ACTIVITIES
2023
2022
Grants made- Note 8
Exchange differences
1,033
25,927
Governance costs - Audit fee
Administration ¢osts
Bank charges
2,724
300
80
3,104
2,088
300
100
2,488
Net discounts char¥ed l {credited)- Note 9
(243)
(368)
3,894
28,047
The Foundation had no employees during the year12022.. £nil).
None of the Trustees reLeived reinuneiation or reiTnbursed expense5 during the year (2022.. £nill.
The auditor did not receive any remuneration in respect of iion-audit Services duriiig the year (2022.. £nil).
CREDITORS: amounts falling due within one year
2023
2022
Grants payable
Accruals
4,712
5,142
85,439
9.854
89,977

Raymond and Beverly Saclder Foundation
NOTES TO THE ACCOUNTS
At 31 Deeember 2023
CREDITORS- ainoui)ts falling due be)iond one year
2023
2022
Grants payable - Note 9
8,551
11,729
TAXATION
The Foundation is exempt from tax on income and gai11s arising it] pursuit of its charitable objects.
GRANTS MADE
2023
2022
Institutional grants made:
New commitments
Exchange differences
949
25,983
Increase l (decrease) in commitments
949
25,983
2023
2022
Reconciliation of grants payable:
Commitments at l January
97,881
163,717
Increase in commitments
949
25,983
Grants paid
{84,695)
(91,819)
Commitments at 31 December
Payable within one year
4,712
85,439
Payable beyond one year
9,423
12,442
97,881
All amounts above are aciual commitmenis. As set out in Note 9 the amounts payable beyond one year are subject to
discounts for inclusion in the Balance Sheet.
12

Raymond and Beverly Saclder Foundation
NOTES TO THE ACCOUNTS
At 31 Deeember 2023
COMMITMENTS PAYABLE BEYOND ONE YEAR
In compliance with the SORP 2019. the carrying values of grant commitments payable beyond one year are discounted
to net presei)t value usii)g notional interest rates.
The rate adopted in preparing these accounts is 2.40/0 per annum. compounded. &s ai 31 December 2022 and 4.0￿/￿ per
annum, compounded, as at 31 December 2023.
The application and reversal of the discount is deemed a 'Finance charge, by the SORP 2019 and is charged to
Charitable Activities.
2023
2022
Commitments payable beyond one year at l January
12,442
87,415
Discount to commitments at l January
1713)
{289)
Carrying value of discounted commitments at l January
11,729
87,126
Amounts cotnmitted during the year
Finance charge attributed to..
Discount reduLed l increased on commitments at l Jai)uary
Discouni applied to con)mitments made during the year
1243}
{368}
1243}
{i681
Exchange differences
1580}
10,410
Commitments becoming due within one year
(2,355)
(85,4391
Commitments at 31 December at carryin(T value
8.551
11,729
10. RELATED PARTY TRANSACTIONS
No related party transactions have been identified in the period.
13