Charlty number: 1134632 THE WEISZ FOUNDATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 THE WEISZ FOUNDATION CONTENTS Page Reference and Admlnlstrdtive Detsils of the Charlty, Its Trustses and Advlsers Trustses, Report Ihdependent Examlnerfs Report Statemont of Flnancial Actlvlties Balante Sheet Notes to the Flnancial Staternents 9-17 THE WEISZ FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees Mr Gideon Wittenberg. Chair Mr Neil Richard Kelsey Dr Jeremy Schonfield Dr Judit Szekacs-weisz Charity registered number 1134632 Prlncipal offico Spaces Mappin House 4 Winsley Street London W1W 8HF Accountants Wilder Coe Ltd Chartered Accountants 1 st Floor. Sackville House 143- 149 Fenchurch Street London EC3M 6BL Page 1 THE WEISZ FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annua] report together with the financMI statements of the The Weisz Foundation for the year 1 APFII 2024 to 31 Marth 2025. Objectives and activitiès Pollcles and ob]ectiv8S The charivs objects are to hold the Trust fund and all of its income upon trust and apply them for all objects which are regarded as exdusively charitable under the law of England and Wales. In 8etting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefiL including the guidance 'Public benefit-. running a charity (PB2>'. The trustees have considered the Charily Cornmission's guidance on public benefft. The charity's aims are far reaching and for public benefit. By making granls to other charities which carry out work programmes and who benefit individua15 in accordance wilh the chariws aims, the trustees arè confidenl that Iheir public bènefit is fulfilled. The trustees have not placed any restssotions on who has opportunTiy to benefit withln categories stated above. The tnjstees also con$lder that there is no detriment, harm or private benefit that aiises from carying out th8 charitys aims. b. Strategies for achleving objectives While ￿tainIng its general scope. it is intended that the charbty will make grants to any individual, group, organi5ation. or instiiution to provide and assist in the provision of conferersces, rx)urses of instruction, exhibitions. lectures and other educational artivities. c. Actlvitios undertaken to achlove obigctives In line with the charitws objecttves. the trustees o)ntinue to make grant payments to various organisations in Ilne with the charitable object¢vey. Achievomants and pèrfomiance a. Maln achievemènts of the Charfty The charity relies on donations and grfts to fund its activities which usually come from connected parties. During the year. the charity received income from donations, investments and Irading activlty of £35,064 f2024 £31,076). The administration and grant expenditure during the period was £12,013 (2024 - £31, 755). This figure included support and governance Costs of £9.013 (2024 - £2a800). This resulted in a net increase in funds of £19,987 (2024 - roduction of £3.644). b. Investment pollGy and perfomianco The charity's investment comprises lis 100% shareholding in its subsidiary company, Whizz Films Limited valued at the cost of £1. In addition to Ihis, the charity has an unlisted investment valued at the cost of £91.300. Dividends are b61ng received annually on this inve5trnent. . Plans for the future The charity continues to pay additional grants to other organisation8 in line wth the chatilable objectives. Page 2 THE WEISZ FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Fin8nclal review . Going concem The trustees are of the opinion that the charity has negligible recurring overheads and that ihey will contlnLie to receive donations from related parties and dividends from unlisted investments and therefore, liaving considered post year-end financial results and cash resetves, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Th¢Js, the trustees continue to adopt the goiro concem basis of accounting in preparing the financial stalements. b. Reserves pollcy The Iruste85 report reserves of £122.706 (2024- £102, 719). It is the policy of the charity that unrestrioted funds which have not been desi9nated for a specific use should be maintained at a level equivalenl to be￿een three and six month's expenditure. The trustees conslder that reserves at this level will ensure tha( in the event of a signffjcant drop in frjnding, they will be able to continue the Charity's current aGtivitle$ while consideration is given to ways in which additional fvnds may be ralsed. I his lev81 of r8S8rves has been maintsined throughout tha yaar. c. Principal funding The princlpal funding of the ¢harity Is from dividends received from the unlisted investments. Donations and gifts from connected partles are an addition source of income. These donations and gtfts are provided in order that the Gharfty can make onward grants and donations to other organisations in Ilne with its charitable objective5. structurei governance and management a. Constitutlon The Wei5z Foundation is a regislered ¢harsty, number 1134631 and is constituted under a Trust deed dated 27 January 2010. which was subsequenty amended on 8 April 2022. b. Methods of appointment or election of Trust88s The management of the Charity is th& responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. Appointment should be made by the Ttustees, as soon as reasonably practicable and in their absolute discretion as the Executors of George Weisz estate shall propose. Trustees are selected for their expertise and experien￿. New trustees receive copies of the goveming document and detail$ of the administrative procedures, history and policies of the charity. In addition. all new trustees are given gsjidance material publlshed by the Charity Commission on the responsibilities of being a trustee. The trustees are kept informed about the charity and relevant developments in the charity secior when appropriate. The trustees who have served during the period are set out below. The trustees assess grant applications and consider the making of appropriate grants on at least an annual basis. The trustees have no particular plans for future periods or activities to update on in this report. Page 3 THE WEISZ FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 structure, governanc8 and management (continued) Organlsational structure and decislonwmaklng policies The board of Trustees manage the charity. The Trustees who served during the period we￿. Mr Gideon Wittenber9 Mr Neil Kelsey Dr Jeremy Schonfield Dr Judit Szekacs-weisz d. Related party relationships The Tfustees are involved as directors ar￿ trustees of other companies and charities and they are therefore considered to be related parties. More detail on the nature of the transactions during the year can be found in note 16. Financlal rlsk management The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity. and are satisfied that systems and procedures are in place to mitlgate exposure to the major risks. Page 4 THE WEISZ FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 ststement of Trustees. responsibilities Trie Trustees are responsible for preparing the Trustees, Report and the finane4al statemenls in acwrdance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law appllcable to charities in England & Wales requires the Truste8S to prepare finanual statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, induding its income and expenditure, for that period. In preparing these financial statements, the Twstees are required to= select suitable accounting policies and then apply them consistently- observe the methods and principles of the Charitles SORP (FRS 102}.' make judgments and accounting esllmates that are reasonable and prudent-. state whether applicable UK Accounting Standard5 (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements,. prepare the financial statements on the going concem basis unless it is inappropriats to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting re￿rdS that are suffiaent to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financtal statements comply wth the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hen￿ for taking reasonable steps for the Prevention and deleclion of fraud and other irregularities. Approved by order of the members of the board of Trustees on ........... . behalf by= and signed on their Mr Gideon Wittenberg Trustee Mr Neil Richard Kelsey Trustee Page 5 THE WEISZ FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 IIIARCH 2025 Indopendent Examinerfs Report to tho Trustees of The Welsz Foundation ('th9 Charlty.) I report to the charity Trustees on my examination of the financial statements of The Weisz Foundation {'the Charity,) for Ihe year ended 31 March 2025 which comprises the Ststement of Financial Activities. the Balance Sheèt and r8lat8d n¢)tes. Thls report is made solely to the Charitys Trustees, as a body, in a￿rdance ￿th section 145 of the Charities Act 2011. My work has been undertaken 50 that I might state to Ihe Charitls Trustees those mallers l am required to state to them in this report and for no other purpose. To the fullest extent pemiitted by law. I do not accept or assume responsibility to anyone other than the Charity and the Charitls Trustees as a body, for my work. for this ￿port, or for the opinions I have formed. Rosponslbilities and Basis of R6POrt As the Twstees of the Chaiity you are responsible for the preparation of the financial statements in a￿Ordance th the requirements of the Charities Act 2011 {'the 2011 Act). I report in resped of my examination of the Charitys financial statements carried out under section 145 of the 2011 Act and in carrying oui my examination I have followed the applicable Directions glven by the Charity Commlssion under section 145<5)(b) of the ACL An independent examination does not involve gathering all the evidence that would be requlred in an audit and consequently does not cover all the matters that an auditor consider5 in giving their opinion on th8 financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequentty l expres$ no opinion as to whether the financial statements present a 'true and fairf view and my report is limited to those specific matters set out in the independent examiner's 8tatement. Independent Examiner's Statement I have completed my examination. I confirm that no matters have come to my attentlon in connectlon with the exarnination givlng me cause to believe that in any material respect: accounling records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or the acoounts do not accord with those records: or the ac¢ounts do not comply with the appli¢able requirements Con￿rning ihe form and content of accounts set out in the Charities (Accounts and Reports) Regulalion5 2008 other than any requirement that Ihe accounts give a 'true and view which is not a mattw considered as part of an independent examination. I have no concerns and have come a¢ross no other matters in connection wth the examinalion to which attenllon should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed ........-.....-.-............... li Robert Bradman BA CA Wilder Coe Limited Chartered AcLountants 1 st Floor Sackville House 143-149 F8nchurch Street London EC3M 6BL Pag8 6 THE WEISZ FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 202S Unrestrlcted funds 2025 Total funds 2025 Total fvnd5 2024 Note Incorne from: Donations and legaaes Investments 8,026 23,050 35,064 35,064 Total Income 35,064 35,064 31,076 Expendlture on: Charitable activities 12,013 12,013 31,755 Total expènditur8 12,013 12,013 31,755 Net ineomel(expendlturé) before net gains on Investments Taxation 23,051 (3,064) 23,051 {3,064) (679) (2, 965) Net movément in funds 19,987 19,987 (3, 644) Reconclliation of funds: Total funds brought foward Nel movement in funds 102,719 19,987 102,719 19,987 106,363 (3,644) Totsl funds carrfod forward 122,706 122,706 102,719 The Statsment of Financial Activities indudes all gains and losses recognised in the year. The notes on pages 9 to 17 fonn part of these finanual statements. Page 7 THE WEISZ FOUNDATION BALANCE SHEET AS AT 31 MARCH 2025 2024 2023 Note Fixed assèts Heritage assets Investments Current assets io 11 1,525 91,301 1,525 91,301 Debtors Cash at bank and in hand 12 1,870 31,806 13.803 33.676 13,803 Currfrnt liabilities Creditors.. amounls falling due wilhin one year 13 (3,7961 (3,910J Met current assets 29,880 9, 893 Total nèt assets 122,706 t02, 719 Charity funds Restricted funds 14 Unrestricted funds 14 122,708 102, 719 Total funds 122,706 102,779 The financial ststements were approved and aLrthorlsed for issue by the Trustees and signed on their behalf by: on Mr Gideon Wittenberg Trustee Mr Nell Richard Kelsey Trustee The notes on pages 9 to 17 form part of these financial statements. Page 8 THE WEISZ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 General infom)ation The Weisz Foundation is an unincorporated Charity registered al the Charities Commission with charity number: 1134632. Its principal address is Spaces Mappin H¢)use. 4 Winsley Street, London W1 VV 8HF. The finanaal statements are presented in Sterling (£). Accounting policlès 2.1 Basis of preparatlon of finan¢lal statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities- Statement of Recommended Praclice applicable to charities p￿paring their accounts In a¢¢ordance with the Finanual Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) {effectiYe 1 January 2019), the Finanaal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a Irue and fair view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the exient required to provide a 'true and fail view. This departure has involved follwng Ihe Charilies SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 whi¢h has since been wsthdrawn. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Ststemenl of Cash Flows. The Weisz Foundation meets the definition of a public benefit entlty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy. 2.2 Income ASI income is recognised once the Charity has enlitlemenl to the income. it is probable that the income will be re￿iVed and the amount of income re￿1vable can be measured reliably. Grants are included in the Statement of Financial Aclivthes on a receivable basis. The balance of income re￿iVed for specific purposes but not expended during the period is shown in the relavant fvnds on the Balan￿ Sheet. Where income is received in advance of entiuement of receipt, its recognition is deferred and induded in creditors as deferred in(x)me. Where enlillement occurs before income is received. the income is accrued. Income lax recoverable In relation to donations received under Gift Aid or deeds of covenant is recognised at the time ofthe donation. Income tax recoverable in relat￿￿ to investrnent income is recognised at th8 time the Investment income is receivable. Other income is recognised in the period in whi(* li is re￿1vable and to the extent the goods have been provided or on completion of the service. Page 9 THE WEISZ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Ac¢ountlng pollcles (continued) 2.3 Expenditure Expendriure is recognised On￿ there is a legal or constNdive obligation to transfer economic benefit to a third party, li is probable that a transfer of economic benefits will be required in settlement and the amount of the obligatlon can be measured reliably. Expenditure Is dasslfied by aclivity. The costs of each activlty are made up of Ihe fotal of direct costs and shared costs, including support Costs involved in undertaking eath activity. Direct costs attribulable to a single a￿1vty are allocated directly to that activity. Shared costs which contribute to more than one activity and support cosls which are not attributable to a single actlvity are apportioned be￿een those activities on a basis consistent with the use of ￿sourCes. Expendllure on raising funds indudes all expenditure incurred by the Chadty to raise funds for it5 charitable purposes and indudes Costs of all fundraisin9 activities events and non 7,377 12. Debtors 2025 2024 Due within one year Amounts owed by group undertakings 1,870 Page 15 THE WEISZ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. Creditors." Amounts falllng due wlthin one year 2(J2S 2024 other creditors Accruals and deferred income 10 10 3,900 3,786 3,796 3,910 14. Ststemont of funds statsment of funds - currgnt year Balance at 1 April 2024 Balance at 31 Expenditure Mar¢h 2025 Income Unrestricted funds General funds- all funds 102,719 35,064 115,077} q22,706 Statoment of funds - prior year 881ance at 31 March 2024 Balance at l Apnl 2023 In￿me Expenditure Unrestricted funds General funds - all funds 106.363 31,076 (34, 720) 102,719 Page 18 THE WEISZ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 IS. Analysis of net assets between funds Analysis of net assets between funds - current year Unr85tricted funds 2025 Total funds 2025 Fixed asset investments Heritage assets Debtors due within one year Current assets Creditors due within one year 91,301 1,525 1,870 31.808 (3,7961 91,301 1,525 1,870 31,806 {3,796) Total 122,706 122,708 Analysls of net assets between funds - prlor year Unrgslrioted funds 2024 To181 funds 2024 Fixed asset investments Heritage assets Current assets Creditors due within one year 91,301 1,525 13,803 (3,910) 91,301 1, 525 13, 803 (3, 910) Total 102,719 102, 719 16. Relatsd party transactlons During the year. the Foundation made a loan of £1,870 (2024.. £Ni4 to Whlzz Films Llmlted, a subsidiary company. A Trustee of the Foundation is also a D1￿Ctor of Whizz Films Limited. Page 17