Charity number.. 1134632 THE WEISZ FOUNDATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
THE WEISZ FOUNDATION CONTENTS Page Rofer¥n¢e and Admlnl¥tratlve Details of the Charity, it• Trustees and Advlsers Trustees. Report Indepèndent Examlnerfs RgPOrt statement of Financial Actlvilies Balance ShÈ•t Notes to the Financlal Statements 9-18
THE WEISZ FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES ADVISERS FOR THE YEAR ENOED 31 MARCH 2023 Trustees Mr Gideon Wrttenberg, Chair Mi Neil Riehard Kelsey Dr Jeremy Schonfield Mr Mark Baczoni Dr Judil Szeka¢s-Weisz Charity Wiltered number 1134632 Pronclpal office The Harfey Buildiry 77-79 New Cavendish Street London W1W6XB Accountants Wilder Coe Ltd Chartered Accountants 1st Floor, Sackvtlle House 143- 149 Fenchurth sireet London EC3M 68L Bankers Natwest 8ank PLC 7 North Street Bishop's Stortfold Hertrordshire CM23 2TJ Soll¢ltors Ince Gordon Oadds LLP Leconfield House Cutton Slreel London W1J 5JA &"mons Muirhead & Burton LLP 87-91 Newman Street London WIT3E Page 1
THE WEISZ FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trustees present their annual rewt Icgelher with Ihe financTral statements ol the The Weisz Foundation for the year 1 Aw"12022 10 31 March 2023. Objectives and a¢ti¥ities a. Polldes and obJectlve8 The charitys objeds are lo hold Ihe Trust fund and all of its ino)me Upon trust and apply them for all objects ich are regarded as exduwvely charilable un¢Jer Ihe law of England an¢J Wales. In setting objectives and planning for activities, the Trustees have gwen due consideration to general guidance published by the Charty Commission retating to PLsbli¢ benefit, including the gLtidance 'Publi¢ benefrt.. running charity IPB21'. The trustees have considered the Charty Commission's giJKlance piJbli¢ benefft. The <ariV8 aims ale far leaching and loi public benefit. By maknng grants to other Charit$ which carry out work programmes and who benerrt individual5 accofdance with the chantys aims. the trustees are confident that their public benefrt Is fulfilled. The trustees have not placed any reslri¢tions on who has OPPDrtunity to benefit within categones stated above. The trustees also consider that there is no delrimenl, harrn oi private benefit that arises from carrying oul the charilrfs aims. b. Strategles for a¢hkeving oblectives While retsining ils general scope, il is intended that the charity will make grants lo any individual, group, Of9anisatDn, or insb"tub"on lo provide aThJ assist in Ihe pfoviston of conferen(s, cwrses of In51rucb'on. exhibitions. fe¢tures and other educational actwitses. c. A¢tfvitles undèrtaken to achieve obj1¥0$ In line wlh the charill$ obj'ectives, the trustees continue to make grant Paents lo various organisatKJrts in line wth the charrtable objectNes. Achlevern•nts and perfornianco . Maln a¢hievemenl$ olthe Chorfty The chanly relies on donabons grfts to fvnd its activities whlch usually ¢¢)me from connected part5. During the year, the chanty received intxjme from donatsons. investments and trading activty of £35,852 (2022 £21,443). The adrninistrabon and grant expenditure during the peiiod was £37.287 (2022- £47.254J. This figure included support and govemance o)sts of£26,237 <2022- £36.295J. This resurted in a net movoment in funds ol {£5,930112022- £25.811) b. Investment policy and p•rfomian¢e The ¢harily's investment comprises its 100% shareholding ils subshjiary Company, WhEz Films Limited valued at the eosl of £1. In additron lo this. the ¢harity has an unlisted investment valued al the cost of £91,300. Dividends are being received annually on this investment. . Plans for the future The tharity eonlinues to pay additnal grants lo other organisalion$ In line with the tharitable objeclwes. Page 2
THE WEISZ FOUNDATION TRUSTEES, REPORT ICONTINUED} FOR THE YEAR ENDED 31 MARCH 2023 Financlal rèvlew a. Golng concern The trustees are of the opinion that the charity has negligible reeurring overheads and that they will c£)r¢linue to receive donations from relaled companies and therefore. having considered wst year-end financial results and cash reserves, the Iruslees have a reasonable eXpectatn Ihal the chanty has adeqtjate resources lo continue in operational existence for the foreseeable future. Thus, the trustees ntinUe lo adopt the going concern basis of atyounb.ng in preparing the financial ststèments_ b. Reserves policy The trustees report reseNes of £106.363 (2022 - £112.293). It is the FK>licy of the chaiily that unrestri¢teil lund$ whld) have t been desynated for a sw¢ific use should be mainlained at a level equivalent lo beeen three and six month's expenditure. The trustees ¢onsider that reserves at this level will ensur• that, in the event of a significant drop in funding, they will be able to o)ntinLe the Charivs current activities while o)nser'0n is given to ways in whKh addrtional funds may be raised. This level of resee$ has been maintained throughout the year. c. PriD¢lpal lundlng The principal ftjnding of the charrty is donations an¢J gifts trom connected parties. These donalons arxj gifts are provided in order that the charity Can make onward grants and donions lo other organisalions in line with its charitable ObltIVeS. Dlvidends are also retxived from the unlisted investments which provkles an addib'onal source of income on an ongoing basis. Stru¢ture, goveman¢e and managèment a. conslUtIon The Weisz Foundation 18 a gIStered charty, number 1134632, and is constitthed under a Trust deed dated 27 January 2010, whith was SLtsequenUy amended on 8 April 2022. b. Methods ol appoSntment or ele¢tlon olTrustees The management ol the Chanty is the re$pon5ibilily of the Trustees who are elected and co-opted under the lem)s of the Trust deed. The F()wer to appoint new trustees previously iesled with the late George Weisz. Under the lemis of Trust Deed, subsequent lo George Weisz passing, appointment shoukj be made by the Trustees, a$ soon as reasonably wa¢licable and In their absolute dis¢xelion as the Executors of George Weisz esiale shall propose. Trustees are selected for their expertise and experien. New trustees receive coty'es of the goveming document and details of the administrathve procedures, history and policws ol the charity. In addibon, all new trustees ale given guidance material published by the Charity Commission on the resp)nsibilities of being a trustee. The trustees are kept inforffled about the charity and relevant devel¢Jpments in the tharity sector when approprklte. The trustees who have served dkjnng the period are set out bel¢>w. The trustees assess grant applications and consider the making of appropriate gfanls trm.ce yearfy. The tfustees have no particukr plans lor future perDds or activities to update on in this report. Page 3
THE WEISZ FOUNDATION TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Structure. governance and managèment Icontinuedl ¢. Orgarlisatlonal Stnthre and decislon-maklng pollclo$ The board of Trustees manage the chanty. The Twstees who served during the period were.. Mr Gideon Wrttenberg Mr Neil Kelsey Dr Jeremy S¢honfield Mr Mark Baczoni Dr Judil Szekacs-weisz d. Related paty raOnshIpS The Twslees are Involved as directors and trustees of other compan$ and charib'es an(J they are Iherefue considwed lo be related parties. More detail on the nature of the transactions during the year can be found In note 19. e. Flnan¢lal rlsk management The Trustee5 have assessed the major risks lo which Ihe Chaiity is exposed, in particular those related to the OperatnS and finances of the Charty. and are satisfied that systems and procedures are in place to mits.gate exp05Lsre lo the maj(x risks. Page 4
THE WEISZ FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 ststement of Trust•e$' rèsponslbllities The Truslees are fe5ponsible for preparing the Trustees, Report and the financial slalements In accordance wf(h applicable law Unite¢J Kingdom Ae¢ounling Stsndards (United KinOM Generally Accepted Acunting Practice). The law applicable lo chafilies in England & Wales requires the Trustees to prepare financial statements for each finanal which gwe a true and lair view of the stale ol affairs of the Charity and ol i& incoming resou18 and applicab(*) of resouices, including its Income and expendrture, lor that peri¢)J. In prepanng these financial stalemenls. the Trustees ale required to.. 8elect suitable accounts.ng policies and then apY them consistently,. observe the methc8 and principles of the Charrties SORP IFRS 1021. make judgments and accountrng eslimales that are reasonable and prudent,. 818le whether applicable UK Accounting Standards IFRS 1021 have been fdloW, subject lo any material epartures disclosed arKI explained in the financial slalemenls.. and prepare the finanaal $taleirEnls on Ihe going (x)ncern basis unl$ss il is inapproprsate to presume that the Charitywill continue In business. The Trustees are responsible for keeping adequate accounts'ng re(£srds that arè sufficient to show and explain the Charitys transactions and disclose with reasonable accuracy at any ts.me the finanal position of the Charity and enable them to ensure that the finan¢RI slalemenls comply wth the Charities Act 2011. the Charity IA¢count5 and Rep)rtsl Regttlalions 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity an¢J hence for takin9 reasonable steps for the prevention and deleclion of fraud and other irregularrties. Approved by order of the members of the board of Trustee5 and signed thei half by. Mr Gideon Wlttenbèrg Trustee Mr Neil Richard Kèlsey Trustee Date.. Pag& S
THE WEISZ FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023 Independent Examinerfs Report to the Trustees of The Welsz Foundatlon Ilhe Charity) I reFK)rt to the Chaiily TTUStees on my examination of the financial statements of The Weisz Foundab"on I'lhe Charilll for the year ended 31 Marth 2023 which cA)mprise¥ the Siatemenl of FinancAal Aclivilies. the Balance Sheet and L9ted notes. This report is made sdely to the Charitys Trustees, as a body, in aceordance with secl'on 145 01 the Charities Act 2011. My work has been undertaken so that I might stste to the Charrtys Trustees thosè matters l am required lo slate to them In this report and for no other purpose. To the ftjllesl extent miled by law, I do not aept 01 assume responsibility to anyone other than the Charty and the Charitys Trustees as a body, for my work, for this report, or for the q)inions I have formed. Responsibllltles and Basis of Report As the Trustees of the Charity you are responsible for the preparation of the financk?I stalements in accordanee wbth the requirements of the Charrties A¢1 2011 Ilhe 2011 Act'i. I repKrt in respect of my examinalK)n of the Chartys financial statements carried out under sectknn 145 of the Act and in car.ng out my examinatKJn I have followed the aFPli¢ab Directions given by the Charity Commission under section 14515llbl of the Act. An independent examination does not involve gathering all the evidencE that would be requiied in an audit and consequently dr8 not cover all the matters that an audrtor considers In gNing the¥ opinion on the financial statements. The ptanning and conduol of an audit 9$ beYd the limited assurance Ihat an independent examination ean provide. Consequenuy l express no opinion as to Mthelher the financial statements present a 'tnJe and fairf view and my reFOrt is Iimrted to those specific mallers sel out in the independent examiner's statemenL Independent Examlnerfs Statement I have ¢ompleled my examination. I CDnfirm that no matters have come lo my attent)n in conneCtn with the examination givtng me cause to believe that in any material iespect.. accounling records were not kept in respect of the Charity as required by section 130 of 2011 Act., or the accounts do not accord with those reo)rds' or the a¢counts do not mplY with the applicable requirements con¢eming the form and content ()f accounts set out in the Charf(ies (Accounts and Reportsl Regulations 2008 other than any requirement Ihal the accounts give a 'lrue and fair view whith Is not a matter considered as part of an Independent examinats'on. I have no concems and have come across no other mattws in conneotion with the examination to which attenknn should t drawn in this rewrt in order lo enable a proper understandinu of Ihe accounis to be reached. Dated. 10 January 2024 Chark)tte Willmore BFP ACA Wilder Coe Limited 1st Flcor Sackville House 143-149 Fenchurch Street LorKlon EC3M 6BL Page 6
THE WEISZ FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 Unrestrict¢d funds 2023 Total funds 2023 Total funds 2022 In¢om trom.. Donab"ons and legacies Other trading activrtie$ Investments 21,443 818 35,034 818 35,034 Totsl Income 35.852 35,852 21.443 Expendlturè on: Raising fijnds Charitable activities 1,200 36,087 1,200 36,087 5,099 42.155 Totsl expendlture 37,287 37,287 47.254 Net expgndlture before net galns on in¥estm8nts Taxats'on 11,4351 14,4951 11,435) 14,495) {25.811) 12 Net movement In funds 15,9301 15,9301 {25.811) Re¢onciliatlon of funds.. Total funds brought l(ward Net movement in ILJnds 112,293 15,9301 112,293 15.930) 138,104 125,811) Total funds ¢arrled fOr[d 106,363 106,363 112.293 The Slalemenl ol FinanThal Activities indudes all gains and losses reo)gnised in the year. The notes on pages 9 10 18 1M part of these financial stalemenls. Page 7
THE WEISZ FOUNDATION BALANCE SHEET S AT 31 MARCH 2023 2023 2022 Note Fixed assgts Heritage assets Investrnenls Current assets 13 14 1,525 91.301 1.525 91,301 Debtors Cash at bank arKI in hand 15 689.000 22.877 706.117 706,117 711.877 Credf(ors'. amounts falling due wrthin one year 16 1692.5801 (692.410J Net ¢urrent a5ts 13.537 19.467 Totsl net assets 106.383 112.293 Charity funds Restri¢ted funds Unreslriclgd funds 17 17 106,363 112.293 Totsl funds 106.363 112,293 1>: IL. ZCL The finanaal statements were approved and aulhori$ed for issue by11)e Trustees (x) ............ ....... ....................... and swned on Iheir behalf by.. o. Mr Gid•on Wlttenberg Trustee Mr Nell Rl¢hard KÈl$e Trustee notes on pages 9 to 18 Iwm part of Ihese financial slatemenls. Page 8
THE WEISZ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 General infomiation The Weisz Foundation Is an unincorporated Charity registered al the Charib'es Commission with charity number.. 1134632. Ils prin¢ipal address is The Harfey Building, 77-79 New Cavendish Street. London, W1W6XB. The financAal statements are presented in Slerfing {£). Accounting poll¢le¥ 2.1 Basis of preparatlon of flnanclal statements The finanaal statements have been prepared in a)rdan vthh the Charities SORP IFRS 1021- Accounting and Repthiro by Charities.. Statement of Recommended Pra¢lice appli¢able to charities preparing their acwunls in accordance with the Finanrial Repthng Standard applicable in the UK and Republic of Ireland IFRS 102118ff8ctive 1 January 20191. the Financial Reporting Standard applicable In Ihe UK and Republic of Ireland IFRS 1021 and the Charities A¢1 2071. The finanaal ststements have been prepared lo give a 'true and fairf wew and have departed from the Charib"es (Accounts and Reports) Regulatrons 2008 only lo the extent required lo wovide a llue and fairf view. This departure has invcAved following the Cbarilies SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since been wrthdrawn. The charity has taken advantage of Ihe prOs1on8 In thè SORP f(x charities applwng FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Fl¢)ws. The Weisz Foundalicn meets the definition of a publK benefit ents'ty urKleT FRS 102. Assets and liabilib'es are initially recognised at historical cost or IransactK)n value unless ott)wwise stated in the relevant accountsng policy. 2.2 In¢ome AJI income is recognised once the ChaTity has entrtlement lo the income, it is probab that the income will be received and the amount ol inc4)nE receivable can be measured reliably. Grants are induded in Ihe Stslement of FinancAal Actwilies on a ret*ivable basis. The balance of income received for speojfic purposes bul not expended durina the period Is shown in the relevant fijnds on the Balance Sheel. Where income is feceived in advance of entitlement of rece1pI, ts recognition is delerrert and induded in Gfedilors as defeired income. Where enlillement OCCLJrs before inwme is received. the inwme is accrued. Income tax recoverable In relalDn to donatB)ns received under Gift Aid or deets of covènant Is recognised al the lirne of the danation. Income lax recoverable in relation lo investrnenl in0(e Is recA)gnised al the time the investment incolne is receivable. Other income Is reo)gnised in the period in which rt Is rwivable and lo the extent the goods have been provided or on mplets"0n of the sèrvice. Pagè 9
THE WEISZ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting polici•s Icontinugdl 2.3 Expendfture ExpendiluTe is rec4)gnised once there is a legal or constructive obligation to transler e¢onomi¢ benefit to a third party, 1115 probable that a transfer of economio benefrts will be required In settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity The costs of each acttvity ale made up of the lolal of direct costs and shafed costs. induding support costs involved in undertaking each aetivty. Dire¢t costs attribLrtable lo a single actiwty are allocated directly lo Ihal actiwly. Shared costs which contribute to more than one activity and suppcxt costs are not aitributable to a singl& a¢tiwty are apportioned between those activities on a basis )nSIStenI with ihe use of resouices. Expenditufe on raising funds ilI1eS all expendrture incurred by the Charrty to raise fvnds for rts ¢harrtable purposes and Indudes costs ol all fundraising a¢tivits"e5 event$ arKI non-charrtabl8 trading. Expenditure charitable activities is incurred on diredy undertaking the activiti&s whh further the Charivs objectives. a$ well as any associated support ¢ts. Grants paydble are charged in Ihe year when the offer is made exp1 ln those cases where the offer is conditional. such grants being TecogTiised as expend(ture when the conditions attaching are Irilled. Grants offered subjed to conditDns which are wthin the control ol the Foundation which have not Ien met at the year end are noted as a commitment, but not ac¢ruert as expenditure. Grants offered where conditions have been met bul rK>I yet pawj u where conditions are ouisttle of the ntrol of the Foundation are accrued for al the Or end. All expendilufe is inclusive of iThecoverable VAT. 2.4 Forelgn currencies Monetary assets and liabilities denominated In foreign JrrenCleS are translated into slerfing al rates of ex¢hange ruling al the reporting date. Tfansions in foreiLM currencies are translated into Slerlino al the rale Tuling on the dale of the transaction. Exchange gains and Ios8es are relwnised in the Statement of Finan¢kql Activities. 2.5 Taxation The Charity is congdered lo pass the tests set out in Paragraph 1 sChede 6 of the Finance 1 2010 and therefore il meets the definithon of a Laritable company for UK COftK)ralKJn tax purposes. Accordingly. the Charity Is potentially exempt from laxation in respect of income (Y ¢apital gains receNed within categories o)vered by Chapter 3 Part 11 of CwratFon Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extenl that such income gains are applied exclusively to d)arrtabLe purposes. 2.6 Herltage assets Where heritage assets have teen purchased, they are inrtially recognised at cost. After re¢ognits"on, under the cost model. herilage assets are measured at cost less any accumulated depreciation and any accumulated impairment losses. The asset hekl ts wnsidered to have an indefinite life and therefore is not éepreciated. At each reporting dale the Charity assesse5 whether there is any InOi¢ation of impairment. If such indication exists. the recOVerae amount of the asset is determined lo be the higher of ils fair value le5S Costs lo sell and its value In use. An impaimienl Ioss is fecognis&Y where the eArying amount exceeds the recoverable amount. Page 10
THE WEISZ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Ac¢ountlng policies IntInued) 2.7 Investmènt$ Fixed asset investments are a fom of financial instrument and ale 1nikn.ally re¢rNJnised al their transaction ¢osl and subsequenlly measured al fair value at the Balance Sheet dale, unless the value cannot be measured reliably in wthich case 11 is measured at cost less Impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on investrnenls. in the Statement of Financial Activrtt'es. Investments in $ubdiaries are valued al cost l$ss wovision for impairment. 2.8 Debtors Trade and other debtors are re¢oJnised at the settlement amount after any traje discount offered. Pfepaymenl$ are valued at the amoLnt wepaKJ net of any trade discounts due. 2.9 Ca$h at bank and In hand Cash al bank and in hand indudes cash and short-lem highly investments with a short maturity of three months tess from the date of acqui$ibon u opening ofthe deposrt iy similar acts)unt. 2.10 Liabiliti9$ and provlslon6 Liabilities are reccgnised whèn there is an obligatron al the 8alance Sheet dale as a resuK of a past event, il is probable that a transfer of eo)nomi¢ benefit will be required in setlemenl, and the am(xJnl of the settlement can be esbmaled reliably. Liabilitie$ are recoJnised al Il amount that the Charity anliapales it will pay lo setlle the debt or the amount it has received as advonced payrnents for the goods or services it musl provide. 2.11 Financlal instruments The Charity has elected to appty Seclions 11 and 12 of FRS 102 in respect of financial instruments. FinancAal assets and li8bilits.es are recognd when the Charity becomes paty lo the ntraCtual provisK)n5 of the instrument. Financial liabilities are classrfied accordir¥J lo the substance of the conlraclual arrangements entered nlo. The Chafity only has financAal assets and financial liabilrties of a kind that qualify as basic finanaal in8lrument$. Basic financial Instruments are inrtially recognised al Iransactpn value and subsequently measured al their settlernent value wth the eXptIon ol bank loans which are subsequently measured at amortised cost using the effective interest method. 2.12 Fund a¢counting General funds are unrestricted funds which are available for use al the discretion of the Trustees in furtherance of the general objectives ol Ihe Charity and which have not been designated for other purposes. Investment InMe, gains and Ios8es ale allocated to the appropriate fund. Pell
THE WEISZ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Income from donation$ and legacles Unrestrf¢tgd fund$ 2023 Total funds 2023 rol funds 2022 DonalK>ns 21.443 Inc4Jno from othèr trading actl¥ltle8 Iricome from non Chaiitable trading activitie5 Unrestricted funds 2023 Tot81 funds 2023 Total fund$ 2022 Nel income all trading activities 818 818 Investment income Unrestrlctsd lunds 2023 Total lunds 2023 Total funds 2022 Income from unlisted investments 35.034 35.034 Investment managèment costs Unrestrlcted funds 2023 Total fund$ 2023 rotal funds 2022 Investment management lees 1.200 1,200 5,099 Page 12
THE WEISZ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Analysis of grants Gran1$ to Institutions 2023 Total funds 2023 Total funds 2022 Grants payable 9,8 9.850 5,860 Total 2022 5.860 5,860 The Charity has made the followirrfj material gratrts to inslituti(ffjs during Ihe year.. 2023 2022 Name ol in¥tltutlon Bevis Marks Synagogue Heritage FoundatKTrn Whbzz Films Lirniled 3,000 4,350 The Freud Museijm Our Secu)d Home 360 9.850 5.860 Anatysl$ of expendlture by actlvltles Grant nding of aGtivitie$ 2023 Support ¢osl$ 2023 Total lunds 2023 Total funds 2022 Ch(ble adivrties 9.850 26.237 36.087 42.155 Tot812022 5,860 36,295 42. 155 Page 13
THE WEISZ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YE&A ENDED 31 MARCH 2023 Analytsl6 olsupport costs Charitable actlvltles 2023 Total funds 2023 Totsl funds 2022 Travelling expense8 Governance rA)sts Sundry Bank charges 172 172 q45 26,025 26.025 36,087 38 25 ,237 26.237 36.295 Analy$ of governance costs Unfestrictod funds 2023 Total funds 2023 Total funds 2022 Legal and wofe$sKnal fees Insurance Foreign excharge differences 28,474 297 12,7461 28.474 297 12,7461 36,018 (225) 26,025 26,025 36.087 10. Employee¥ During the yeaf, Ihe average numlr of Trnslees wa5 512022- 51. 11. TrustÈes' remunerati¢Jn and oxp•nsos During the year, no Trustee received any remuneration12022- Nin. During the year, expenses lotalliThJ £205 were reimbursed or paid directly to 1 Trustee12022- £183 to I Trusteel. Page 14
THE WEISZ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 12. Taxatlon 2023 2022 Wlthholding tax Foreign tsx on dividend income for the year 4495 13. Herllage asvts Assets rQgnIsd at cost Herltage asset 2023 Tolal 2023 carrng value al 1 April 2022 and 31 March 2023 1,525 1,525 Anatysls ol herltage asset transacuons 2023 2022 2021 2020 2019 Purchasgs Herilage asset- al cost (as restaledl 1.525 Totsl addltions 1.525 Page 15
THE WEISZ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2023 14. Flxed asset Investments Investments In $ub$idiary Unllsted comp4nl•s Invèstments Totsl Cost or valuatlon Al 1 April 2022 and 31 March 2023 91,300 91.301 91,300 91.301 Net book value At31 Marth 2023 91,300 91,301 At 31 MarGh 2022 91,300 91.3Ql Prlndpal subsldlarles The followrg was a SL5bsidiary undertaking of the Charity.. Namo Company number Registored offlce or prlnGipal Prln¢lpal artlvlty pl*¢e of busin•ss Whr2z Fllms Llmited 08127442 21 &221 Borough HHJh Street. CIO Eam Limited, London. SE1 1JA Film production Class of Iharey Holdlng Ordinary 100% The financ4al resuts ot the subsid1 the aT lo 29 September 2022 were.. Name Loss for the Net Ilabllltles year Whyzz Films Limited 13.453) 118,1971 Page 16
THE WEISZ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 15. Debtors 2023 2022 Due wlthin one year PTepayTnents and accrued income 689,0 16. CredltOTS.' Amounts falllng due wlthln one year 2023 2022 Other creditOTS Auxuals and delerre¢J income 10 10 692.400 692.570 692.580 692,410 17. Statem•nt of funds Statoment of funds - current year Ba5ance at 1 Aprll 2022 Balance at 31 Expendlture March 2023 Income Unreslrldod lund$ General funds- all funds 112,203 35.852 141.7821 106.363 Statement of fund$- prk•r year Balance al Jf March 2022 881ance al l Apnl 2021 InGome Expendrfure Unrestricted lunds General funds- all funds 138, 104 21.443 (47.254) 112,293 Page 17
THE WEISZ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. Anatysls of net assets bèts¥een funds Analysis of assets b•tw••n funds - current year Unre5trl¢t•d funds 2023 Total funds 2023 Fixed asset Inveslments Heritage assets Current assets Creditors due within one year 91,301 91,301 1.525 1,525 706,117 706,117 1692,5801 (692,5801 Total 106.363 106,363 AnatyJl$ ol net as$Èts betwe•n fvnd$- prior y•ar Unrestricted funds 2022 Total funds 2022 Fixed a88el investnnls Herrtaoe as8ets Current assets Cfe¢ilor$ due within one year 97.301 1.525 711,877 (692.410) 91.301 1.525 711,877 (692,410) Total 112,293 112,293 19. Related party transactlons During the year, the Foundation made grants of £3,¢XIO (2022.. £Nil) to Whttz Film$ kn"mfted. a subs'diary mpany. A TTU51ee of the Foundalv)n is also a Director of Whizz Films Limited. During Ihe yeaf, the Fwndatson made orants of £NII (2022.. £5,500J lo the Bevls Marks sag¢gue Heritage Foundation, a charty in which there was 3 common Truslee during p•1 of the year. The Foundats"on also paid expenses on their behalftolaling £22,477 (2022.- £2T,235). During the year. donal'ons of £Nil (2022." £20,OLL)) were received from Chance Ventures Lmiled Bvb, a ts)mpany in which a Trustee is a Director. Page 18