Charity number. 1156438
The Schwarzschild Foundation
Unaudited
Trustees, report and flnanclal statements
Forthe year ended 31 December 2023

The S¢hwab7s¢hild Foundation
Contents
Page
Reference and administrative details of th• Charty, its Trustees and advisèrs
Trustees. report
Independent exarninerf5 report
SL2tement of financial activiti
Balance sheet
Notes to the financial 5talements
8-17

The Schwarzschild F¢undation
Ref•renee and administrntive details of the Charity, its Trustees and advisers
Fot the year ended 31 December 2023
TN$tees
Rabbi Barry Marcus (resigned 1 March 20231
Volker Heinz
Kay Linnell
Maurice Leven8on
Charity registered
number
1156438
Principal oifice
Brick Kiln Cottage
The Avenue
Herriard
Hampshire
RG25 2PR
Accountants
Kreston Reeves LLP
Chartered Accountants
37 St Margaret's Street
Canterbury
Kent
CT12TU
Bankers
CAF Bank Ltd
25 lQ'ngs Hill Avenue
Kings Hill
West Malling
Kent
ME194JQ
Page 1

The S¢hwarLschild Foundation
Trustees. rEPOrt
Forthe year ended 31 Decembèr 2023
The Trustees present their annual ¥eport together the finandal $tstements of the Charty for the year 1
January 2023 to 31 December 2023.
Objectives and activities
a. Policies and objectives
The objects of the Charity are..
il the advancement of education amongst the Beneficiary Class, being women and girls resident in the UK oi
elsewhere in the world who have been brought up in or practice the Jewish faiih in acco¥dance wilh the Orthodox
tradition.,
ill the prevention or relief of poverty or financial hardship amongst the Beneficiary Class by the provision of
support to enable such persons lo be self-sufficient., and
iiil the advancement of such other Charitable Purposes, amongst the 8eneficiary Class as th¢ Trustees eon$ider
appropriate.
In setting objectives and planning for a¢tivitie8, the Trustees have given due consideration lo geneTal guidance
published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a
charty IPB21'.
b. Governance and grnntvmaking pmcedurgs
In 2023, the services of Bates Wells, specialist charity lawyers, were retained to assist the Trustees in
Strengthening and formalising the Charity's govemance and grant-making proeedures. Professional assistance in
getbng the grant making and monitoring procedures in place was considered necessary in view ol the legacy
received from Miss Sd)warzs¢hild's estate that have finally pul the Foundation in fijnds to undertake this
exercise.
Achievements and perforniance
a. Main achigv•mènts of the Charity
Miss Helga Schwarzschild (who died on 26 August 20201 provided a legacy in her Will to thè Charity of
£5,093,023 that was received in 2022.
To provide an ongoing income stream for the Charity. the trustees placed £674,355 of the charity's tunds with
Investec Investment Management (who provide fvnd management lo private charities) in 2022. These fvnds had
value al 31 December 2023 of £698,818 being £689,884 in investments and £8,934 in cash 131 December
2022.. £682,310 being £300,045 in invesbnents and £382,265 in cash).
Leasch Investments Ltd (formerly ovffled by Miss Helga Schwarzschildl became a htholly owned trading
subsidiary of the Charity in January 2022 and entered into a Deed of Covenant to donate its annual profits to the
Charity. The profits donated by Leasch Investments Ltd for the year ended 31 Decembei 2023 were £62,567
(£61,162 for the year ended 31 December 20221.
During the year, in view of an ongoing Charity Commission investigation, the Trustees have declded to cease all
activity until this matter is resolved.
Financial reviéw
a. Going concem
After making appropriate enquiries, thè Tru$lees have a reasonable expectation that the Charity has adequate
resources to continue in operational existence for the foreseeable ftjttjre. For this reason, they continue to adopt
the going concem basis in preparing the fjnancial statements. Further details regording the adoption of the going
concern basis can be found in the accounting policies.
Page 2

The Schwarzschild Foundation
Tru5tees' rèport (continued)
Forthe year ended 31 Decernber 2023
b. ReseNe$ policy
The Trustees have retained sufficient funds in ¢ash to deal wth the legal costs being incurred since the 2022
year end lo deal with the planned policy making and fijture grant making.
At the period end. the CharTty had £4.180,66 held in unrestricted reserves12022.' £4,148,057). Whilst the Charity
is cUrren￿Y not actively making grants as noted below. it is the intenlion of the Trustees to utilise the reserves for
this end, in line wth the charitable objectives, once the enquiry has been closed. ￿ such, the Charity's current
reserves policy target is £5,000,000 until this matter is resolved.
. Principal Tisks and uncertainties
The Charity Commission opened a statutory inquiry on 23 June 2023 related to their concerns as to whether the
Chanty's charitable frjnds have been used for the purposes intended. The Charity fijlly cooperating and
engaging wth the Chafity Commission. In line with this, the Charity has paused the making of any grants until the
inquiry is etsn¢luded. In the meanb"me, the trustees have beèn taking specialist legal and professional advice to
ensure that that appropriate governance and key policies are adopted. The Trustees look forward to continuing
lo undertake work in fvrtherance of the Char¢ty's charitable objects in memory of Helga Schwarzschlld once the
inquiry is concluded.
Stwthrei govemance and managemgnt
a. ConSti￿tion
The SchwatZ8thild Foundation 18 a charitable trust estsblished as 8 registered charity on 28 March 2014,
number 1156438, and is constituted under a TTUSt deed.
b. Methods of appointmènl or ele¢tion of Tru5tee5
The management of the Charity is the responsibility of the Trustees vtho are eleded and co-opted under the
terms of the Trust deed, which providÈs that new tru$tèÈs are appointed by a resolution of the truslee5 for a two
year term and can be reappointed thereafter.
. Organisational structure and d8cision-making F)olici8s
The Charity has three trustees and operates a minimum of ￿ meetings in each year.
d. Financial risk rnanagement
The Trustees have assessed the major risks to which the Charity is exposed, in partieular those related to the
operations and finances of the Charity, and are salisffied that 8yStem$ and procedures are in place to mitigate
exposure to the major risks.
Plans ft>r luture periods
At Ihe current time the Trustees are con¢entrating on satisfying the Charity Commission that the assets ol the
Foundation and grants made are bona fide and proper procedures and policies are now in pla¢e before
recommencing the work ofthe Foundation in makn'ng grants and appointing additional Tiustees.
Pgye 3

The S¢hwarz5child Foundation
Trustees. report Icontinuod)
For the year endèd 31 December 2023
Statement of Trust•es' rnsponsibilities
The Trustees are responsible for preparing the Trustees. report and the financial statements in accordance
applicable law and Unf(ed Kingdom A¢¢ounting Stsndards IUnrf(ed Kingdom Generally Accepted Accounting
Pracli¢el.
The law appllcable to charities in England & Wales requires the Trustees lo prepare financial statements foT
each financial year which gwe a trLse and fair view of the state of affairs of the Charity and of its incoming
resources and application ol resources, including its income and expenditure, for that period. In preparing these
fjnancial statements, the Trustees are required to..
elert suitable accounting policies and then apply them consistenlty.,
observe the rnethods and principles ofthe Charrties SORP IFRS 1021.,
make judgments and accountsng estimates that are reasonable and prudent;
State whelhei applicable UK Accounting Standards IFRS 1021 have been followèd, subject to any material
departures disdosed and explained in the financial statements.,
prepare the financial stalements on the going concem basis unless il is inappropriate to presume Ihat the
Charity wll continue in business.
The Trustees arè responsible foi keepirkg adequate aecountsng records that are sufficient to show and explain
the Charity's transactions and disclose reasonable accuracy at any time the finan￿al posrtion of the Charity
and enable them to ensure that the finanaal slatements comply wth the Charities Act 2011, the Charity
(Accounts and Repotts) Regulations 2008 and the provisions of the Trust deed. They are also responsible for
safeguarding the assets ol the Charity and hence for tskn'ng reasonable steps for the prevention and detecb.on of
fraud and other irregulafities.
Approved by order of the members ofthe board of Trustees and signed on their behall by..
Kay Linnell
Dale..
,J- 2¢1+
Page 4

ThÈ Sehwansthild Found•tion
Independent examinef s report
Forthe year ended 31 December 2023
Indopendent examinerfs report to the Trustees of The Schwarzschild Foundation Ilhe Charity,
I report to the charity Twstèes on my èxamination of the accounts of the Charity for the year ended 31
December 2023.
Responsibilities and basls of report
As the Trustees of the Charity you are responsible lor the preparation of the accounts in accordance wth the
requirements of the Charitses Act 2011 Ilhe 2011 Art).
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and
in carrwng out my examination I have followed the applicable Difections given by the Charity Commission under
section 145{51{bl of the 2011 Act.
Ind•pgndent •xaminèrfs statemènt
Your attention 1$ drawn to the fa¢t that the Charty has prepared the accounts in accordance Vrfith Accounb'ng and
Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts In
accordance with the Financial Repo￿.ng Standard applicable in the UK and Republic of Ireland IFRS 1021 in
Prefererice to the Accounts"ng and Reporb"ng by Charities.. Statement of Recommended Practice issued on 1 April
2005 lthieh is referred to in the extant regulats'ons but has been withdravm.
l understand that this has been done in order for the accounts to provide a true and fair view in accordance with
the Generally Accepted Accour¢ling Practice effective ft)r repo￿ng periods beginning on or after 1 January 2019.
I have completed my examination. I confirm that no matters have come to my attention in connection the
exgminatson gwing me cause to believe that in any material respect..
accounting records were not kept in respect of the Charity as required by Seclion 130 ofthe 2011 Act., or
the accounts do not accord with those records,. or
the accounts do nol comply wth the applicable requirements concerning the form and content of
accounts Set out in the Charitie$ IA¢¢ounts and Reports) RegUla￿"On8 2008 other than any requirement
that the accounts give a Irue and fair. view which is not a matter ctsnsidered as part of an independent
examination.
I have no eoncerns and h8ve come across no other matters in connection with the examination to whid)
attenkn.on should be drawn in this report in order to enable a proper understanding ofthe accounts to be reached.
This report is made solety to the Charity's Trustees, as a body, in accordance Part 4 of the Charities
(A¢¢ounts and Reports) Regulations 2008. My work has been undertaken so that I might state lo the Charity's
Trustees those matters l am required to state to them in an Independent examine¢s report and lor no other
purpose. To the fullest extent permitted by law, I do not accept or assume responsibility lo anyone other than the
Charity and the Charitys Trustees as a bo￿, for my work 01 for this report.
Signed..
Dated..
24 June 2024
FCCA DChA
S M Rouse
Kreston Reeves LLP
Chartered Accountants
Canterbury
Page 5

The Schwarzschild Foundation
ststement ol financial activities
For the year ended 31 D￿ember 2023
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Note
Income from:
Donations and legacies
Investments
97,320
13,510
97,320
13.510
5,154,192
2,501
Total incom•
110,830
110.830
5,156,693
Expenditure on:
Charitable a¢tivities
100,754
100,754
1,017,189
Total WApenditur•
100,754
100.7S4
1,017,189
Net In￿rne before net gains on investmènts
Net gains on investments
10.076
22,536
10,076
22,536
4,139,504
8,499
Ngt nv)voment in funds
32,611
32.611
4,148,003
Reconciliation of funds:
Totsl funds brought foward
Net movement in fiJnds
4.148,057
32,611
4,148,057
32.611
54
4,148,003
Total funds carried forward
4.180,668
4,180,668
4,148,057
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 17 form part of these financial statements.
Page 6

The Schwarz5child Foundation
8alan¢e sheet
As at 31 December 2023
2023
2022
Note
Ftxed assets
Investments
4,019,885
3,630,045
4,019.886
3,630,045
Current assets
Debtors
Cash at bank and in hand
10
64,743
100,840
63,345
466,367
165,583
529,712
Creditors.. amounts falling due within one
year
{4.8001
11,7001
Net curront assets
160,783
518,012
Totsl net assets
4,180,668
4,148,057
Charity funds
Restricted funds
Unrestricted ￿ndS
12
12
4,180,668
4,148,057
Total funds
4.180.668
4,148,057
The financial statements were approved and authorised for issue by the Trustees and slgned on their behalf by..
Kay Linnell
Date..
The notes on pages 8 10 17 form part ofthese financial statemènts.
Page 7

The Schwattschild Foundation
Notes to the finan¢Tral statements
For the year ended 31 December 2023
G•neral inforn)ation
The Schwarzsehild Foundation is a Tegislered charity in England. The charity's registered address is Brick
Kiln Cottage, The Avenue, Herriard, Hampshire, RG25 2PR.
Accounting policie5
2.1 Ba$1$ of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 1021
Accounting and Reporting by Charittes-, Statement of Recommended Practice applicable to charities
preparing theif accounts in accordance wlh the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 1021 (effective ? January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 102) and the Charities Aet 2011.
The )Inancial statements have been prepared to give a Irue and lair. view and have departed from
the Charities (Accounts and Reports) Regulab'ons 2008 only to the extent required to provide a Irue
and fair. view. This departure has involved following the Charities SORP IFRS 102) published in
October 2019 rather than the Accounkn"ng and Reporting by Charrbes.. Statement of Recommended
Prachce effective from 1 April 2005 ithich has since been withdrawn.
The Schwdrzschild Foundation meets the definltion of B publ1¢ benefit entity undèr FRS 102. Assets
and liabilib'es are initially iecognised al htstorical cost or transaction value unless otherwise stated in
the relevant aceouriting policy.
The financial statements are presented in British Sterting and rounded to the nearest Pound.
2.2 Going concem
The trustees have assessed the use of going concem and have considered possible events or
conditions that might cast significant doubt on the ability of the ¢haiity to Continue as a going concem.
The Trustees have concluded that there is a reasonable expectation that the charity y￿11 continue in
operational existence for the ft)reeseeable fvture. The charity therefore continues lo adopt the going
concem basis in preparing the financial statements.
2a In¢ome
AJI income is recognised once the Charty has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of
receipt and the ability to e5b.mate sufficient ac¢ur8cy the amount receivable. Evidence of
entidement to a legacy exists when the Charity has sufficient evidence that a gift has been left to
them (through kn￿edge of the existence of a valid wll and the death of the benefactor} and the
executor is satisfied that the property in question wll not be required lo satisfy claims in the estate.
Receipt of a legacy must be recognised when it is probable that it TrMII be received and the fair value
of the amount receivable, whith will generally be the expected cash amount to be distrbuled to the
Charity, can be reliably measured.
Giants are included in the Statement of financial aCtiV￿eS on a reeeivable basis.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
Page 8

The Schwarzs¢hild Foundati4
Notes to the financial statements
For the year ended 31 Decembor 2023
Accounting policies (continued)
2.4 Expenditurn
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third party, it is probable that a transfer of economic benefits wll be required in sethement and
the amount of the obligation can be measured ieliably. Expenditure is classified by activity. The costs
ol each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each actwity.
Expenditure on charitable activities is incajffed on diredy undertaking the activities ￿lch further the
Charitys objectives, as well as any associated support costs.
Grants payablè are chaiged in the year vthen the offer is made except in those cases where the offer
is condits'onal, wch grants being recognised as expenditure %then the ￿)nd1￿.0ns atta¢hing are
fiJlfilled. Grants offered subject to condits'ons which have not been met at the year end ale noted as a
commitment, but not acuued as expendittjre.
AJI expendituie is inclusive of irrecoverable VAT.
2.0 Interest receivablg
Interest on funds held on deposit is included Ythen receivable and the amount can be measured
reliably by the Charity., this is normally upon notification of the interest paid or payable by the
stitution with whom the fijnds arè deposited.
2.6 Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterfing at rates
of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into steiling at the rate ruling on the date of the
transaction.
Exchange gain$ and losses are recognised in the Statement of ffirbancial activibes.
2.7 Taxation
The Charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act
2010 and therefore il meets the defin￿On of a charitable company for UK corporation lax purposes.
Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains
received within ￿tegOrieS covered by Chapter 3 Part 11 of the corporakn.on Tax Act 2010 or Section
256 of the Taxats'on of Chargeable Gain5 Act 1992, lo the extent that such income or gains are
applied exclusively to charitable purposes.
2.8 Investrnents
Fixed asset investments are a form of ffinancial instrumÈnt and are initially recognised at their
transaction cost and subsequenuy measured at fair value at the Balance sheet date, unless the value
cannot be measured reliably in which case it is measured at cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on
investments, in the Statement of financ4al activities.
Investments in subsldiar4es are valued at cost less provision for impairment.
Page 9

The Schwarzschild Foundation
Notes to the financial statèrnnts
For the year ended 31 DeCeM￿r 2023
Accounling policies (conlinuedl
2.9 Debtor5
Trade and other debtors are recognised at the setdement amount after any trade discount offered.
Prepayments are valued al the amount prepaid net of any trade discounts due.
2.10 Cash at bank and in hand
Cash al bank and in hand includes cash and short-term highly liquid investments wth a short malurity
of three months or less from the date of acquisition or opening of the deposit or similar account.
2.11 Liabilities and provisions
abilities are recognised when there is an obligatson at the Balance sheet date as a result of a past
event, il is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the ChaTrty anticipate5 it will pay lo sethe the debt or the
amount it has received as advanced payments for the goods or services tt must prowde.
Provisions are measured al the best estimate of the amounts required to settle the obligation. Where
the effect of the time value ol money is material, the provision is based on the present value of those
amounts, discounted at the Pre-tax discount rate that reflects the risks specific to the liabilty. The
unwnding of the discount is recognised in the Statement of financial activibes as a finance cost.
2.12 Financial instrumènts
The Charity only has financial assets and finanaal liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequentty
measured al their setuement value wth the exception of bank loans which are subsequently
measured at amorbsed cost using the effects've interest method.
2.13 Fund accounting
General fijnds are unrestricted lunds whith are avoilable for use at the disc¥etson ol the Trustees in
fijrtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Investment income, gains and losses are allocated to the appropriate fvnd.
Page10

The Schwan5child Foundation
Notes to the financial statements
For the year ended 31 December 2023
Income Irom donations and lega¢ies
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Donations
Legaaes
97,320
97,320
61.169
5,093,023
97,320
97,320
5,154,192
Total 2022
5,154,192
5,154,192
Included wthin donations is the covenanted profits from Leasch of £62,567 {2022'. £61,169).
Investment income
LIn￿trIct•d
funds
2023
Total
funds
2023
Totsl
nds
2022
Income from local listed investments
Bank interest received
11,454
2.056
11,454
2,056
597
1,904
13,510
13.S10
2,501
Total 2022
2,501
2,501
Analysis of grants
Grants to
Grants to
Institution5 Individuals
2023
2023
Total
funds
2023
Total
ftjnds
2022
Grants paid
1,005,000
Total 2022
1,000.000
5,000
1.005,000
Page11

The Schwarzschild Foundation
Notes to the financlal statements
For the year ended 31 December 2023
Analysis of expendi￿re by activities
Gyant
funding of
activities
2023
Support
costs
2023
Total
funds
2023
Total
funds
2022
Charitable activty expenditure
100,754
100,764
1.017.189
Total 2022
1,OOS,000
12,189
1,017,189
Analysis of support Costs
Total
funds
2023
Total
fvnds
2022
Activities
2023
Investment manager fees
Accountancy fees
Bank charges
Legal fees
Auditot8' remuneration
6,025
4,800
966
88,963
6.025
4￿00
966
88,963
108
300
81
11,700
100,754
100,754
12,189
Total 2022
12,189
12,189
Independenl examinerfs remuneration
2023
2022
Fees payable to the Charitys independent examiner for the independent
examination of the Charitys annual accounts
Fees payable to the Charitys independent examiner in respect ot
The auditing of accounts of associate$ of the Charity
4,800
11,700
Page 12

Thé Schwarzschild Foundation
Notes to th• financial statements
For thè year endod 31 Decembgr 2023
Trust•è$' remuneration and expenses
During the year, one Twstee has been paid remuneration or has received other berFeffits from an
employment with the Charty.
The followng fees were paid during the year for Services provided to the Charity by an accountancy firm
in which Kay Linnell had an interest. However, the work undertaken by Kay Linnell & Company Ltd was
not provided by Kay ￿'nnell herself, who provided her services to the Charity for free.
The value of Tw$tees' remuneration and other benefits was as follow&'.
2023
2022
Kay Linnell
Fees
300
During the yeaf ended 31 December 2023, no Trustee expenses have been incuffed {2022 - £NILI.
Fixed asset inv•stm•nts
Investments
in
subsidiary
Listed
companiès inv•stments
Total
Cost or valualion
Al 1 January 2023
Addilions
Disposals
Revaluations
3,330,000
300,045
408.189
138.0261
19,677
3.630,046
408,189
138.026)
19.677
At 31 De¢ember 2023
3.330,000
689,885
4,019.885
Net book value
At 31 December 2023
3.330.000
689.885
4,019,885
Al 31 December 2022
3,330,000
300,045
3,630.045
At 31 Decernber 2023, the investment managers held an additional £8,934 {2022'. £382,265) of the
Charity's fijnds as cash. This is induded wtthin bank and cash in the balance sheet.
Page 13

The Schwarzschild Foundation
Nol•s to the financial statements
Forlhe year ended 31 Do￿rnber 2023
Fixed asset investsnents (continued)
Principal subsidiaries
The followng were subsidiary undertakings ofthe Charity..
Namgs
Company
number
Registered office or principal Principal activity
place of business
LEASCH INVESTMENTS
LIMITED
00692369
8Tick Kiln Cottage The Avenue, Property letbng
Herriard, 8asingsloke,
company
Hampshire, RG25 2PR
Brick Kiln Cottage The Avenue, Property letbng
Herriard, Basingsloke,
company
Hampshire, RG25 2PR
H H S ESTATES LIMITED
03138176
Class of
sharès
Holding
Ordinary
1000
Ordinary
100%
The financial results ofthe subsidiaries for thè y8ar wère..
Names
Incomè EX￿ndit￿le
ProfitllLoss1
I Surplusl
{DÈfieitl for
the year
Net assets
LEASCH INVESTMENTS LIMITED
93,000
(355,173)
{262,173}
2,029,890
H S ESTATES LIMITED
60.500
105,8271
{45,3271
1,283,285
Leasch Investments Ltd was formerfy owned by Helga Schwarzschild and its shares wefe gifted to the
Charity as part of the Legacy in her Will in the prior year. The earyng value ol the shares in Leasch
Investments is the Probate value. A Deed of Covenant has been put in place for the profits of Leasch
Investments Ltd to be donated to the Charity each year.
H H S Estates is a subsidiary of Leasch Investments Ltd, ofwhich Leasch Investments Ltd owns 1000/0 of
the shale capital.
Page 14

The S¢hwabz$child Foundalion
Notes lo the financial statÈmenls
Forthe year ended 31 December 2023
10. Debtors
2023
2022
Due within one year
Amounts owed by group undèrtakings
Other debtors
Prepayments and accrued income
63,345
2,176
62.667
64,743
63,345
11. Creditor5: Arn￿nts falling due within one year
2023
2022
Accwals and deferred income
11,700
12. Statement of funds
Statement of funds - currnnt year
Balanco at
31
December
2023
Balance at 1
January
2023
Gainsl
IL055e5)
Incorne Enpenditu
UnrnStriCt￿ funds
General Funds
4,148,067
110,830
1100,7S41
22,535
4,180,668
ststement of funds- prior year
Balance at
31
De¢ember
2022
Balance at
1 January
2022
Gainsl
{Lossesl
Income Expenihture
Unrnstri¢ted funds
General Funds
54
5,156,693 {1,017,1891
8,499
4,148.057
Page 15

The S¢hwan$child Foundation
Nt)tes to the financial statemènts
Forthe year ended 31 Decèmbèr 2023
13. Summary of fvnds
Sunwnary of funds - ¢urrEnt year
Balanco at
31
Gainsl December
{Lossesl
2023
Balance at 1
January
2023
Income Ex￿nd1￿m
General fvnds
4,148,057
110,830
1100,7541
22,53S
4,180,668
Summary of fund5 - prior year
Balance at
31
December
Balon¢e at
l January
2022
Gainsl
(Losses)
Incorne Expenditure
2022
General funds
54
5,156,693 11,017,189)
8,499
4,148,057
14. Analysis of net assets between funds
Analysis of net assets betwe￿ funds - curvent year
Unrestrithd
funds
2023
Total
funds
2023
Fixed asset investments
Current assets
Creditors due wthin one year
4,019,885
165,583
(4,8001
4,019.885
165,583
14,8001
Total
4.180.668
4,180.668
Analysis of net assets betw•èn funds- prior year
Unrestricted
funds
2022
Total
funds
2022
Fixed asset investments
Current assets
Creditors due within one year
3,630,045
529,712
111,700)
3,630,045
529,712
(11,7001
Total
4,148,057
4.148.057
Page 16

Th8 Schwarzschild Foundation
Notos to the financial sL*ements
For the year ended 31 December 2023
15. Related party transactions
Outside of the intra-group transactions already disdosed, there weTe no transactions wilh related parties
during the year12022'. none).
Page 17