2021-06-30-accounts

Reference and Administrative Details	Reference and Administrative Details
Trustees' Report		2to 3
Statement ofTrustees'	Responsibilities
Independent Auditors'	Report	5to7
Statement ofFinancial	Activities
Balance Sheet
Statement ofCash Flows		10
Notes to the Financial	Statements	11to 17

			MIT F	oundation (UK) Li	oundation (UK) Li	mited
			Reference	and Administrative		Details
Trustees			CNorris
			RRishani
			G Shor (resigned on 15November			2021)
			KHammer	(appointed	on 15November 2021)
Secretary			EFlood
Principal	Office		19Norcott	Road
			Lon.don
			N16 7EJ
Registered	Office		19Norcott	Road
			London
			N16 7EJ
Company	Registration	Number	09102473
Charity Registration		Number	1158803
Accountants			Westlake Clark Audit		LLP
			Chartered	Accountants
			7Lynwood	Court
			Priestlands	Place
			Lymington
			Hampshire
			SO41 9GA

				Unrestricted	Total
				funds	2021
			Note
Income and Endowments		from:
Donations and legacies				1,732,150	1,732,150
Investments				59	59
Total Income and Endowments				1,732,209	1,732,209
Expenditure on:
Charitable activities				(1,792,479)	(1,792,479)
Total Expenditure				~1,792,479	~1,792,479)
Net expenditure				60,270)	60,270
Net movement in funds				(60,270)	(60,270)
Reconciliation offunds
Total f'unds brought	forward			64,854	64,854
Total funds carried	forward		12	4,584	4,584
				Unrestricted	Total
				funds	2020
			Note
Income and Endowments		from:
Donations and legacies				546,509	546,509
Investment income				52	52
Total income				546,561	546,561
Expenditure on:
Charitable activities			4	~(496,160	496,150)
Total expenditure				(496,150)	(496,150)
Net income				50,411	50,411
Net movement in funds				50,411	50,411
Reconciliation offunds
Total funds brought	forward			14,443	14,443
Total funds carried	forward		12	64,854	64,854

				Balance Sheet as at	30June 2021
						2021	2020
					Note
Current assets
Debtors						939	14,738
Cash at bank	and	in hand				12,316	52,787
						13,255	67,525
Creditors: Amounts			falling due within	one year	10	(8,670)	2,670
Net assets						4,585	64,855
Funds ofthe	charity:
Unrestricted	income		funds
Called up share capital						1	1
Unrestricted	funds					4,584	64,854
Total unrestricted		funds			12	4,585	64,855
Total funds						4,585	64,855

State	ment ofCash Flows for the	Year Ended 30J	une 2021
			2021	2020
		Note
Cash flows from operating activities
Net cash (expenditure)/income			(60,270)	50,411
Adjustments to cash flows from non-cash items Investment income		3	~59)	(52)
			(60,329)	50,359
Working capital adjustments
Decrease/(increase) in debtors		8	13,799	(9,712)
Increase/(decrease) in creditors		10	6,000	(9,574)
Net cash flows from operating	activities		(40,530)	31,073
Cash flows from financing activities
Investment income			59	52
Net (decrease)/increase in cash	and cash equivalents		(40,471)	31,125
Cash and cash equivalents at 1	July		52,787	21,662
Cash and cash equivalents at 30June			12,316	52,787
			12,316	52,787

							Unrestricted
							funds
								Total	Total
							General	2021	2020
Donations		and legacies;
	Donations to		major appeals				1,693,676	1,693,676	450,841
	Other income		from donations	and legacies			10,064	10,064	28,527
	Gift aid	reclaimed					28,410	28,410	67,141
							1,732,150	1,732,150	546,509
3	Investment		income
							Unrestricted
							funds
								Total	Total
							General	2021	2020
								K
Other investment			income				59			52
4	Expenditure		on charitable	activities
						Activity
						undertaken	Grant funding	Total	Total
						directly	ofactivity	2021	2020
Grant payments			made to Massachusetts		Institute
ofTechnology						1,785,425	7,054	1,792,479	496,150

Raising funds	expenditure
Support costs	allocated to charitable	activities
				Other support	Total	Total
			Finance costs	costs	2021	2020
Grant payments	made to Massachusetts	Institute
ofTechnology			3,960)	11,014	7,054	4,247

7 Auditors' remuneration
	2021	2020
Other fees to auditors
The auditing ofaccounts ofany associate ofthe charity	1,005	975
All other non-audit services	1,365	2,415
	2,370	3,390

12 Funds
			Balance at 1	Incoming	Resources	Balance at 30
			July 2020	resources	expended	June 2021
Unrestricted	funds
General
Unrestricted	income	fund	64,854	1,732,209	(1,792,479)	4,584
			Balance at 1	Incoming	Resources	Balance at 30
			July 2019	resources	expended	June 2020
Unrestricted	funds
General
Unrestricted	income	fund	14,443	546,561	~496,150)	64,854

Current	assets
Current	liabilities
Total net assets
Current	assets
Current	liabilities
Total net assets

Unrestricted
funds	Total funds at
General	30June 2021
13,255	13,255
(8,670	(8,670)
4,585	4,585
Unrestricted
funds	Total funds at
General	30June 2020
	f.
67,525 (2,670)	67,525 ~2,670)
64,855	64,855