2021-05-31-accounts

ISRAEL PHIUIARMONIC ORCHEStRAFOUNDATION U ANNUAL REPORT AND UNAUI)trED FIIIANaAL STATEMENTS FOR THEYEAR ENDED 31 IAAY 2021

ISRAEL PHILHARMONIC ORCHESTRA FOUNDATION UK LEGAL AND ADMINisfiiATIVE INFORMATION Marsha Lee- (hairman Michael Crystal- VKe Chalrnian D8vid Cohen Chen Dalah Dame ￿l￿en Dvffield Denise E5fandi Oded Gera Tali fjottlieb nda Grosse H¥lary Newrnark Davld Olsson John Porter BiarKa Roden Stephen Ross Resigned 31 July 2021 AP￿Inted 11 February 2021 Appointed 2 November 2021 Resigned 10 Novernber 2021 Resigned 13 November 2021 Chwlty nurnb•r 1168735 C4%nwrry nurnb•r 09929867 PrlrKlp•l •ddr• 1st Floor 18entinck Street London WIU 2EA annah Sibtey FCA Citroen Wd15 Chartered kcountsnts Devonshire House l Devon5hife Street London WIW50R B•nk• CAF Bank 25 Ksn85 Hill Avenue Kings Hill West MaIliT￿ ME19 4JQ Solktttys H¢xryrd Kennedy l london Bri￿¢ London SEI 9Bfj

Do¢uSn Envobp• ID.. C60F5E22-67L4cOE48t(￿8EBY343E4cEF ISRAEL PHILHARMONIC ORCHESTRA FOUNDATION UK CONTEM Tru5teÈs' report Independent examiners rep)rt ststement of fl*)ancial athilfjes Statement of financial ￿51t1 Notes to the finarKval statements 8-13

ISRAEL PHILHARMONKORaiESTrAFOUPIDATION iIK TRus[E￿, REPORT (INCLUDING DIREcfoK%' REPORn FOR THEYEAR ENDED 31 2021 The financial siaternents ho￿ been a￿>[￿n￿ ¥Ath the ar(ountiTrg pditrs sÈt (xrt In Ythe i to the Inanual 5taterneDts aDd rornpty wmthtre F(MJrthti¢￿5 afySArtides ofAsyxiation. the Rets)mmended practi￿ aF4icable to thatitie5 prEparingthtyr a¢mRirs in ilh the Re￿￿￿s￿ndJrd apP1Kab￿ in the UK aNI Republ1¢ of Ireland IFR5 1021 leftscb¥e1Jan￿ryl01gl- The Israel PhilhannonK Orfftinw8Parth￿￿eaty In 2020 r£essari￿ re9JW ￿the (ArtallmentofbJnthawathtsE5and ents In theI￿r.T￿￿seeb￿tsÉhat1h4 take p￿￿ere held birtualty z¢￿.and IKIL￿... .TheVIrtL￿Ifjakn TrK>5ted ThÈlPOF UK feart￿ed iTran ¥tide lnthEjvith(hrr￿. Jring the Ye3t ts IPOF at S ￿ "Mu51L7￿ thalf to thè Israel Phllharmonic OrthÈstra.' and E44.194ltothe lSraÈlPhilha¥¥Th)nkFoL￿aIJon.G01J aNI Internllx￿I Board" in15Rd. The IP(F LIK (￿ntIn￿with its rabh￿d5t0bnnlthe (kthestrd Wto Lfmdon assoL￿a5 I￿ath8nd ira¥el

ISRAEL PHILHAIIMONIC OIICHEsfRA FOUNDATION UK ThUSTEES' REPORT IINCWDING DIREcfoRS' REpoRn IcopinNUED} FOR THE YEAR 31 MAY 2021 Flrnndal re¥lv The Ststement of FIEwncial pAtI￿ls on 5 of the fiD￿la1 statemeF)ts hjw ts FoundatiDD'5 incomlrvd resourte5 have been eXp￿ded irLthe￿rerjed 31 May2D21. Totsl incomin8 re5our￿$ anw)unted to £223,0741202tr. £115.79917Mthith o)mworntse5 £223.0741202Tr. £63,2071 Benerated from donations. £rll1202tr. £505181 of Wv imome, £nl121YI(Tr. EII0741 from othorfvTrJr3i5in8inttAlsand eNn Total Resouwces exp•￿￿ amrAJTrted to £2￿.749120￿Tr. £153.6881. Ths expendituTe on fvfithalsh)g acIMt￿ event5 of £1.27412020.' £7,886), granis to IPO of £163.6671202fr. E44.1941 sup￿1 and govtm•ncè ttjsts £35,￿8{202(Tr. £ioi.KAI. A5 a res￿￿ of thE ongolng COVIt>19 pandem. tkn were rbo"IFVE" vnrs and actknbes. Howe￿ the Fourthtth hosted a Virtual Gala Inju￿ and a CoMLOJDdth#ed by Han5￿Mmer ID ttember. The 5tatenni offinanllal P3Be6ofthp fina￿81 swements the fin￿al 01t￿ Foundationas at 31 May 2021 Total a55ets currertt I1￿mIlt1P5 amuslted to £34M1202tr. ￿lch b rpwE5erted try ￿m￿lated bI￿n￿$ on the uThrettr￿ed income fur￿ of £21.898 12020.. Els￿73} the rethcted ftmd of £16,3crJ 12020.. En￿) ar￿ the endowTnent fund of £IO1202tr. £101. rewesents assets hdd in io meet O￿thead5 tQ8Ether ith lunds re￿iVed that have ￿ttsbe towaTd5 the Ipo￿￿￿5 obiEdwe5. It 15 the p)Iky ol the FoundatK)n that unregrKted fvThJs have not been de￿W￿l￿tt for a spedfic 5hDuld be maSntalrd at a k¥el equrwakrt to bÈtEen three month's eA￿diture. Al 31 M•y 2Ql. the uThrE5trided t¥Jnd5 amounted to £2L898. Tr trustee5 Co￿d￿ thai rw¥e5 at Ivrtl wall ensure thaL in the event of a significant drop ID fundin& thrywill be able to COD1kn￿ IPOF-ufs<urnt athil￿5 wme Co￿￿K)n ￿ Si￿￿ to WdVS in lch addft¥)nal thds may be raised. The trustees has as5e5wJ tbe m3h)r rfsks to 15 Q¥W5•I artl are $8tt5fied th systern5 a￿ in Pla￿ to The Foundation 15 a tharit￿e tompany Iwnbted Lry yjarantee re8i5teted and wa￿ incorporated on 24 Decemb 2015 and regiAered wlththe Char5ty commbsk)n for En8land and waleswAth ef1& from 11 AW 201 The direttors ofthe Fowhlètlon are IlStru5tee5 fvtthe ofdbavtty kn¥ndthrouthutthb rewrt are cdltttNetyto thet[I￿ees. In the event of the FtyJndath)D,sd￿S￿Uti￿ tt &abIltyofthen￿nLyT s ￿MM￿lI0£1(L

ISRAEL PNILHARMC￿ICOIIL￿E5[Rl FIXINDATlChW IX TRLlSfEES' REPORT IINQUDING DIREcfoRS' REPORTMCONTINiEDI FOR ThE YEAR ENDED 31 K4Y 2021 The trustees, who are atso the dweaw5 thE p1vp￿e alLvrnkorty kw. aDO thseThrd durv¥thE pr and ￿ tothe date of $￿al￿re011￿ hrond)Istarernents W￿.. Marsha Lte-thaIM￿rt MlchaelCTh3tsI.VxeChalrman Dav•J Cohe then Da￿h Resd3Eh121 I￿n￿essf￿n Oded Gera Tali Gottr nda Gr￿Se HlaryNewmi Davidobson ltshn Pthter Stephen R055 December )2L and there vriu l￿ a nurnber Il inth¥iknl pMWe. A sale of 5PEcfdl cornmwionÈd pthotoyaphs ty the rEnDwnEd brael Photographer. R¢yffler ￿11 tske plxe ￿ orde¥ to r¥￿e funds to AHfUndAbI￿a(IP4$4￿knftIaIed and rnwtryEd th￿￿￿ofTfustee it5fundTrisiwattNftie resP￿S￿le for the Trwtees, Repwt and the ststerntnts ￿ acco￿aKe appfvwe law Unite

DocuS¥n En￿ ID.. C￿F￿£Z24?0F4ClE-e￿D4EB7343E4CEF ISRAELPHILHARk￿N1CORL}IESrRA FOiIP4DATION UK TRUSTEES, REPORT IINCWDING DIRÉCTOA RepffjcopmNUED} FOR THE YEAR ENDED 31 MAY 2021 the srdte of affai[5 vf thÈ Foundation of the of re50urc4 indL4ir tl iryjtne In weparlrrfthesefinan¢ièlslatetnetrts theivuslee5w￿￿q￿lfÉdIO." -se￿ suita￿e￿(ouTrt1ng tK)kiesaTrJ ￿￿￿pp￿thÈMts￿￿l￿entr. .0b5et¥et￿MethtrjSè￿d primp￿sinth￿(J￿[tSsCW.. .make J￿￿ementsar￿ e5timatesthatare rea9x￿ble?r￿lWtskn¢ . srate whether applK¥W UK Att￿jn￿ tren folowed. to arty mat￿￿ dtyarl¥Jre5 If￿sed arvJ exOalned Int￿fiTrar￿[staÈ¢mÈnts.. and continue in operJtyon. finaDoal P￿s￿On Oft￿ enabk tkn to er6wethatthÈ fothtmial ststements LY)mpty with the coM￿nIeS Act 2th6. Thty are ako re5wxth ftysaIe8uard￿ the a55ets ofthe Fo¢thidat￿ a￿1 lKÈ tskir% rea50nabk step5 for the pmptknn. Them￿tee5, reFxXtwa%appr￿￿￿￿tt￿Evard ofTrL&e MrshaLee Doted.. 151212022

INDEPENDENT EXAMINÉRS REPIXT TOTHE TRUStEES OF ISRAEL PHIiHARMONIC ORaiEStRA FOUNDATION UK I rewrt to the tFUStee5 on my eXarrmr￿wJn of th2 finKi¥ sts¢ewtnts { PhthawmonK Orrhe5tra ￿3nd￿t￿￿ UK lthe FQundthnlforthp￿fend&Y3l May2021whKth are5etouton pa8es5 to 14. As the trustees 1)f the Foundation la￿1 kn its dirwtors for thÈ puryM￿ of company lawl you are respO￿￿e for the are el1fvb￿ iDdepwxleDt eN•nu￿tr￿ I in respect of my examinatio￿ of the FwDdativn'5 firntyal tements L7rried out v￿Jer 145 of the OKHritiEs kt ZOII (the 20ll ITh carwrrf examination I Ixve I have cThnpletsd rny eKamiDation. I corTfirm thwt rx) m3tsial matters come to my attention in orffjnection wth the exarnination givlng me caLW to belkvethatin3nyrnateriala5Fec¢ 3 the fiDaDcval staterr￿ts rK CO￿ the of seckn ￿ ofthe X(6 Act cthwthan anv re4uifement that the fin￿claI Slaten￿ and far th lbkh Is nc a matter cOnsKler￿l as part of an in(IEpeDdent exaffjinatiw.. or 4 thÈ financial 51atÈmÈnts have nut bÈÈn FMWa￿d in accord￿ with the and prin¢1P￿ of thè Statement of Ptattits fvr actxJurttin8 arhl reptirti￿ by charibe5 al¥4￿)1e lu d￿rI￿e5 preparing their acuunts In a(tordan¢ewslh the ReFtine5tsTr1ardapF4Kable tntheVKand ReputthrflrelwKI (FR$ 1021. drawn iAthi5 rt5Vrtin utdertotrawe UTrJeT#anth￿ Clthefina￿70l5t￿tE￿￿tO bp tEathed. U5eolthhTewl report is made to the LtharilE mFxrrfs trL&e4 a5 a iK•lT. in wmh Pan 4 of the Charlrlps IAccount5 and Rewrtsl ReguLition5 2&￿. Kfy exaNnètion l%ys been Undertaken 5tt that I ml8ht state to the charftaNe companls trnstees those rnatt￿ l •n Ststeto them ￿ aTh iTrgependent examiDerf5 reptsrt and for no other purpose. To the Mlest extent pemitted by Lw. I do not atteo ar assume respo￿￿4￿¥ to anyone DthEr than the fItsb￿ c(Mppany o¢¥1 the (￿rI1#￿t ¢(Mmpanls trustee5as a body. knjny examlnafjon W4 for thi5 rep( orfOrtto￿ni￿n5l MrnahSM>kylFCAI Citre￿￿wells Be￿nsh{re House I t*¥(￿￿1restrett is)ndon WIWSDR 1512/2022

FLYtThE YEAR BIDED31 WIY2021 173 113.725 Il¢J74 ngfunds 1274 L274 199.475 163. 145,802 P7.OB9 43,772

ISIL4EL PHILHARMONIC ORCHEsfRA FOUNfk4TION UK STATEMENf OF FINANCIAL posmoN AS AT 31 MAY 2021 Other1￿￿b￿S Cash at bank and (D hand 38fi22 11395 19.483 13.fAX)I Currw)t IKbIl￿¢S 17.6821 15m3 End￿Me￿tfun￿.sU￿dl ReSt￿¢ted fvnds UnrestriLtedfiu J6.3(Xl 21,898 15.873 15m3 The company b erf￿ed io the exwnpikn from thp vEquhemeni ¢Ortam￿ in seLlvJn 477 of the Companles Act , fortt ￿r ￿￿ed 31 May2011 sect￿￿ 386 of Ihe and for pre[W5￿ finaThid Staterr￿￿ vrtmth ￿ a arKI tatT VIEW of the stale of affairs of the company a5 at thp etK5 01 the ffflar￿I ￿r and of its inLvmThw reswrces and applThtion of e50urces, IDdudtn8 it5 income and exp¥Jiture. fr)r the finanual in with ik requirements of Sett￿)n$ 391 and 395 and which otherwiseeomptywtth the requlrementsofthe Corn￿￿5 2[￿ rektingto firbal￿1 statements. so far as applicable The have not required the olxafjn of ivs fina￿la1 $Mem￿t for the year in g￿l￿)rt In accodance ¥Ath sertK)n 476. small conwanles re8lm& 15/2/2022 Ma

DocuSn En¥kn ID.. ¢aOFSE2247OF4COE-￿Jj￿B7343E1CEF 140TES TOIHE ANANCIALSTATEMEPITS FOR niE YEAR ENDE031 MAY 2021 Israd Philharmonic OrrthE4ra Ftyjndation UK 15 a axnpany Thrfthd ￿ ÉwaThtee reysrerej ITr E￿alKI Walek The FouNl3tion inthrpthxied on 24 Dtterntw20JS rwstered with theth¥iity Qxnmwn for En￿ond and ￿1￿5 ¥￿th efEertfrcffl 11 ALVJ5t 201& ofthe Ftyjndaiion up. the ￿a￿1￿Y1￿ respett ofthe ￿rantee Is limited to £10 per mernbErof the d￿rIty. Tr address of the T4[5tw￿ ullkn is First Fk)or. l BeTrttckstree¢ London. WIU 2EL The the Chafits Att 201L the CompanRs Art and "ActouTrti￿ and Report¥¥ CharibEs'. 5ts1ement of RecomNJtnded PMtice èPF1lca￿e tochariries preparingth￿r ￿¢￿ts5n accordaFKe withthe Finant7al Rep￿¥￿ str1￿1rd applIca￿e in the UK and RepU￿{Cof Ir¥and 1￿102)..￿￿F￿JndI￿ BÈnÈfft Ertityasdefined ￿FR5 102. ammtsin th￿fin￿¥SaI statem￿ts are roundedtothe dequatE resour￿S to continue in Operati(W￿ ￿tstenCe for the foresee4EI￿￿l the tnGte5 ￿tin￿t0 adw th 8DingiXjn￿Th basis ofaCc￿￿tin8 in prep3ry4gthefinaM￿ strtemwrt& R￿ffirted knd5 are 5ubiert to s￿3￿C ¢th￿1t￿n$ ￿ ¢Jonry5 45 tt> IKMT may bÈ Ltsed. The purposes arK4 uses of the (m￿tiOn, unkn pertormance Co￿*bo￿5 deturnl of the amcvnL IrKxxne lax rwrn4ble rel#tian to donatxms Ed. At thls Fr￿orne is recwised. Wy to the F￿￿d￿t¥)Th and nut PD55iWe th msurt tho

NOTESTO THE FIP4ANaALSTATEMEpirs IcoimNUEOI FOR THEYEAR ENDED 31 MAY2021 cO5t5reLw%toth￿O￿rtv. Jertaken. Cash and Lthequpnknts in£byJecath inh0rfdEW￿t$￿e￿￿atca1ryth ThE FOvndatK)Th hasekthd th app￿the 11 FrkiKial lr6tr1￿n￿ tFK4 102to alofttsfinancial 5ettIethEl4i￿1rtv￿￿￿la￿￿o￿1Y. whÈnthÈ F￿￿dat￿￿Thtr￿the￿larthI a55etarn15ub5tantiaWallthe ¥yward5 Dftrwnèrshipto anotherentity. Dr abletosellthea5set inas party.

FORM VEM EN[￿31 WiY1021 Tol 179 63207 ¥518 Its.725

SRAEL PHILHARMONICORCHESTRA FOUNDATION UK NOTESTO THE FINNJiaALSTATEMEpirs {c(INTINUEDI FOR THE YEAR ENDED 31 MAY W21 2020 GrantfUnd1￿ of Ktivities15ee rth 61 Share of supp￿rt W5ts (sep note 71 Share of8ovM￿toSts1s￿Krte 7) 163.667 1.534 5.274 44.194 93.017 8.591 199.475 145.802 Trryfv Uttrestdcted fijnds Restricted fvnd5 35.W8 163.667 i,f 44.194 199.475 145,802 Grafttsth artof mwk AllgrantsdUrIn8the>￿W￿epldt0The Lvael philhat￿N￿OrL￿ffj FcMJndation"Gaaand Interts￿onal Board" In Israet. -li-

FOR THEYEAR EIIDÈD JI ￿Y1011 2J36 292 TdeF4KMe L764 3218 7￿11 JJ39 5274 73A 6*2

FOR TNEYEARENDED YI WY21YèI io io