|||Page| |---|---|---| |Reference and Administrative
Information||| |Directors' Annual
Report||4-8| |Directors' Responsibilities
Statement||| |Independent|Auditor's
Report|10-12| |Consolidated|Statement of Financial Activities|13| |Consolidated|Balance Sheet|14| |Consolidated|Statement ofCash Flows|15| |Notes to the|Consolidated
Financial Statements|16-22| ## ## |Directors|||Frank Holz||| |---|---|---|---|---|---| ||||Alistair Laidlaw||| ||||Anat Loewenstein||| ||||Sebastian Wolf||| ||||Josh Garde-Aruml||| ||||Ramin Tadayonl||| ||||Edoerdo Mldena||| ||||Nicole Eter||| ||||Rainier Schlingemann||| ||||Jens Folks Kfilgaard||| |Charity Number||in England and Wales|1140791||| |Company|Number||07472054||| |Registered|Office||5 Fleet Place||| ||||London||| ||||EC4M 7RD||| ||||United
Kingdom||| |Auditors|||Hell Llfford Hall||| ||||Chartered
Cerfified Accountants||and Statutory Auditom| ||||Greyfrlars
Lodge||| ||||5Greyfriars||| ||||Waterford||| ||||Ireland||| |Bankers|||Bank of Ireland||| ||||28 Main Street||| ||||Blackrock||| ||||Co Dublin||| ||||Ireland||| |Solicitors|||Charles
Russell Speechlys|LLP|| ||||5 Fleet Place||| ||||London||| ||||EC4M 7RD||| ||||United Kingdom||| |Investment|Bankers||Credit Suisse||| ||||5 Cabot Square||| ||||London||| ||||E144QR||| ||||United
Kingdom||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |for the fin|ancial|year ended 31 December 2020|||||| |---|---|---|---|---|---|---|---| |||||Unrestricted||Unrestricted|| |||||Funds|Total|Funds|Total| |||||2020|2020|2019|2019| ||||Notes|6|6||| |Income|||||||| |Charitable|a divides||5.1|2,579,460|2,579,460|5,166,334|5,166,334| |Total incoming||resources||2,579,460|2,579,460|5,166,334|5,166,334| |Expenditure|||||||| |Charitable|activities||7.1|2,579,505|2,579,505|3,979,066|3,979,066| |Net gains|on Investments||10|15,401|15,401|138,956|138,956| |Net income||||15,356|15,356|1,326224|1,326,224| |Net movement||in funds for the financial year||15,356|15,356|1,326,224|1,326,224| |Reconciliation||offunds|||||| |Balances|brought
forward at 1 January||13.2|8,654,049|8,654,049|7,327,825|7,327,825| |Balances|carried forward at 31December|||8,669,405|8,669,405|8,654,049|8,654,049| ||||||||Restated| |---|---|---|---|---|---|---|---| |||||2020|2020|2019|2019| |Fixed Assets|||Notes|Group|Charity|Group|Charity6| |Investments|||10|1,323,469|1,323,470|1,308,068|1,308,069| |||||1,323,469|1,323,470|1,308,068|1,308,069| |Current Assets|||||||| |Debtors|||11|88,149|359,164|197,208|292,761| |Cash at bank and In||hand||8,014,854|6,053,333|7,560,445|5,371,153| |||||8,103,003|6,412,497|7,757,653|5,663,914| |Creditors:
one year|Amounts|falling due within|12|(757,067)|(249,826)|(411,672)|(56,753)| |Net Current|Assets|||7,345,936|6,162,671|7,345,981|5,607,161| |Total Assets less Current Liabilities||||8,669,405|7,486,141|8,654,049|6,915,230| |Furids|||||||| |Unrestricted|funds|||8,669,405|7,486,141|8,654,049|6,915,230| |Total funds|||13.1|8,669,405|7,486,141|8,654,049|6,915,230| ## |for the finandal
year ended|
31 December 2020||| |---|---|---|---| |||2020|2019| |Cash flows from operating|activities|6|6| |Net movement
In funds
Adjustments
for.||15,356|1,326,224| |Gala on investments||(15,401)|(138,956)| |Movements
In working
capital:||(45)|1,187,268| |Movement
in debtors
Movement
in creditors||109,059
345,395|592,649
(268,203)| |Cash generated
from operations||454,409|1,511,714| |Cash flows from Investing|activities||| |Disposal ofinvestments|||593,717| |Net cash generated
from investment
activities|||593,717| |Net Increase
In cash and cash equivalents
Cash and cash equivalents
at 1 January||454,409
7,560,445|2,105,431
5,455,014| |Cash and cash equivalents|at 31 December|8,014,854|7,560,445| |Cash and cash equivalents|consist of:||| |Cash at bank and
In hand||8,014,854|7,560,445| |Cash and cash equivalents|at 31 December|8,014,854|7,560,445| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |for t|
he financial year ended 31 December 2020|
he financial year ended 31 December 2020|
he financial year ended 31 December 2020||||| |---|---|---|---|---|---|---|---| ||ANALYSIS OF SUPPORT ANO GOVERNANCE COSTS|||Basis|of|Support|Support| ||||appordonment|||2020|2019| |||||||6|6| ||Governance
costs
Central oiftce costs
Finance, IT, consultancy
and computer costs
Travel, insurance
and other costs
Promotion|||||32,574
91,826
41,869
17773|56,238
94,101
39,666
45,695
22,992| ||||Invoiced events|||184,042|258,692| |||||||Governance|Governance| |||||||2020|2019| |||||||6|| ||Council meetings
and secretariat
Audit, consultancy
and legal fees
Company
secretarial fees|||||10,000
20,890
1,684|21,553
32,879
1,806| ||||Invoiced events|||32,574|56,238| |9.|ANALYSIS OF GRANTS||||||| |||Grants to|Grants to|Support|||| |||individuals|Institutions|costs||Total|Total| |||2020|2020|2020||2020|2019| ||||6||6||| ||Research grants||650,977|||650,977|| ||Dbservership
grants||||||15,000| ||||650,977|||650,977|15,000| ## ## |for th|e financial year ended 31 December 2020|||| |---|---|---|---|---| |10.|INVESTMENTS|||| ||GROUP||Usted|| ||Investments||Investments|Total| ||Valuation|||| ||At 1 January 2020
Gain onlnvestments||1,308,068
15,401|1,308,068
15,401| ||At 31 December 2020||1,323,469|1,323,469| ||Net book value|||| ||At 31 December 2020||1,323,469|1,323,469| ||At 31 December 2019||1,308,068|1,308,068| ||CHARITY
Investments|Subsidiary
undertaking
shares|Listed
Investments|Total| ||Valuadon|||| ||At 1 January 2020
Gain on Investments|1|1,308,068
15,401|1,308,069
15,401| ||At 31 December 2020|1|1,323,469|1,323,470| ||Net book value|||| ||At 31 December 2020|1|1,323,469|1,323,470| ||At 31 December 2019|1|1,308,068|1,308,069| |At 31 December 2020|the charitable
company
had a|the charitable
company
had a|n Inte|rest
In the|following
subsidiary:|| |---|---|---|---|---|---|---| |Undertaking|Proportion ofvoting
rights and shares
held|||Holding|Principal activity|Country of
incorporation| |Euretina Trading
Umited|100%|Ordinary||shares|Organising
conferences|United
Kingdom| |The summary
flnandal|performance|ofthe subsidiary|Is:||2020|Restated
2019| |Turnover
Cost ofsales|||||2,579,460
(1,268,728)|5,166,334
(3,229,659)| |Gross profit
Administrative
expenses|||||1,310,732
(127,468)|1,936,675
(197,856)| |Profit before taxation
Tax on profit|||||1,183,264|1,738,819| |Profit for the Rnandal year|||||1,183,264|1,738,819| |Current assets
Current
liabilities|||||2,049,123
(865,858)|2,382,422
(643,602)| |Net assets|||||1,183,265|1,738,820| |Shareholders'
funds|||||1,183,265|1,738,820| ## |11.|DEBTORS|||||||Restated| |---|---|---|---|---|---|---|---|---| ||||||2020|2020|2019|2019| ||||||Group|Charity
8|Group
6|Charity| ||Trade debtors
Taxation
Prepayments
and accrued income
Amounts
owed by group companies||(Note|15)|14,560
73,589|547
358,617|31,780
98,503
66,925|4,078
288,683| ||||||88,149|359,164|197,208|292,761| |12.|CREDITORS||||2020|2020|2019|2019| ||Amounts
falling due|within one year|||Group|Charity|Group|Charity| ||||||||6|6| ||Trade creditors
Other creditors
Taxation||||420,270
188,442
5,432|108,841
92,838|156,183
130,573|15,426
21,186| ||Accruals and deferred|income|||142,923|48,147|124,916|20,139| ||||||757,067|249,826|411,672|56,753| |13.|FUNDS|||||||| |13.1|ANALYSIS OF NET ASSETS BYFUND|||||||| ||||||Financial|||| ||GROUP||||fixed|Current|Current|| ||||||assets|assets|liabilities|Total| ||||||6|||6| ||Unrestricted
funds||||1,323,469|8,103,003|(757,067)|8,669,405| ||||||1,323,469|8,103,003|(757,067)|8,669,405| |13.2|ANALYSIS OF MOVEMENTS
ON FUNDS|||||||| ||GROUP|||||||| |||Balance||||Transfers||Balance| |||1 January|Incoming||Resources|between|Gains and|31December| |||2020
8|resources
6||Expended
6|funds
6|losses
8|2020| ||Designated
funds|||||||| ||Research fund|1,627,250|||(650,977)|335,566||1,311,839| ||Educatlonalfund|107,681|||(79,365)|37,285||65,601| ||Unrestricted
general fund|6,919,118|2,579,460||(1,849,163)|(372,851)|15,401|7,291,965| ||Total funds|8,654,049|2,579,460||(2,579,505)||15,401|8,669,405| ## ## |ES TO THE CONS||LID|ATE|D|FINANCIAL STATEMENTS|FINANCIAL STATEMENTS|FINANCIAL STATEMENTS|FINANCIAL STATEMENTS|FINANCIAL STATEMENTS|FINANCIAL STATEMENTS|FINANCIAL STATEMENTS|FINANCIAL STATEMENTS|FINANCIAL STATEMENTS||continued| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |financial year ended 31 December 2020|||||||||||||||| |FINANCIAL INSTRUMENTS|||||||||||||||| |GROUP|||||||||||Note||2020||2019| ||||||||||||||||6| |Financial assets that are equity instruments|||||measured|||at|fair||||||| |value|||||||||||||||| |Investments
in listed shares|||||||||||10|1,323,469|||1,308,068| |Financial assets that are debt||instruments||measured||||at|||||||| |amortlsed cost|||||||||||||||| |Trade and other debtors
Cash and short term deposits|||||||||||11|14,560
8,014,854|||31,780
7,560,445| |Financial
liabilities measured||at amorbsed||cost|||||||||||| |Trade creditors
Accruels for goods and services|||||||||||12
12|608,712
142,923|||286,756
124,916| |Group's income, expense, gains and losses in respect of|||||||||||||||| |financial
Instruments
are summarlsed
below:|||||||||||||||| |On financial assets measured|at fair||value through|||SOFA|||||10||15,401||138,956| |RELATED PARTY TRANSACTIONS|||||||||||||||| |The
parent
had
transactions||with|group|companies|||and||the|following|amounts|are|due|between
the|| |companies
at the year end:|||||||||||||||| ||||||||||||||||Restated| |||||||||||||2020|||2019| |Due from group companies:|||||||||||||6||| |Eurstlna
Trading
Limited||||||||||||358,617|||288,683| ##