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¢uS*n Envobp• ID.. C60F5E22-67L*4cOE48t(￿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 Or<heth peace (w d￿kY throw the puwer of
r4jsing 4wareDE55 of PhilharnYA)k Orthestra IIFQI 45 4 aTrJ non politKal ￿dIng WDrld-rLI55
or4*estra a￿d Israd's foremost ojkural amba55athN. th*r 8k*al to briD8 people of rn tskh and bar&8round
To fhis end. thÈ obiectkns of thÈ IP(*4X aretk a&rfancw1￿nt ￿ e￿￿￿￿on in the artof music in 1sr4d forthe public benefit
and forthat purpose toencoura8e5tandard5ofex￿1kne tnthei*rformance aNI 1nlv5rtati￿ thereof ItKludlwthe SUPPDrt
The IPOPVKÈxL451O ralsefW￿sardl￿rer*5Sfr￿Ihe IPOw¥J in partvJdar-
11P0 inththes to maintsin thp c￿￿.5 5tsrthrd of m￿cal emcelkrte fr* In ard as wdl a5 to
uJthateefflerwn8takn
11P0 muttkfaith Fywammes that br* ujkwal mMYM**tfAeAn￿ and mutual re5PKt j￿￿th. ChrfstkiTr
and Arab atizensc4 thd.and whileon knJr*xthidè
knIK byor8afti￿ns wwaleeve￿ redials.as*￿l a55*knry5prnxthip in (Ash in ￿nd.
shouhl undertake.
ThEadbpnt ofthe¢x>fftinw8Parth￿￿eaty In 2020 r*£essari￿ re9JW ￿the (ArtallmentofbJnthawathtsE5and *ents
In theI￿r.T￿￿seeb￿tsÉhat1*h4 take p￿￿ere held birtualty z¢￿.and IKIL￿...
.TheVIrtL￿Ifjakn TrK>5ted
ThÈlPOF UK feart￿ed iTran ¥tide lnthEjv*ith(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 rab*h￿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￿l*s on 5 of the fiD￿la1 statemeF)ts hjw ts FoundatiDD'5 incomlrvd
resourte5 have been eXp￿ded irLthe￿rer*jed 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 othorfvTrJr3i5in8inttAl*sand eN*n
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" v*nrs and actknbes. Howe￿ the Fourthtth hosted a
Virtual Gala Inju￿ and a CoMLOJDdth#ed by Han5￿Mmer ID t*tember.
The 5taten*ni 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
maSntalr*d at a k¥el equrwakrt to bÈt*Een 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
Res*d3Eh**121
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 indL*4ir* 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￿[t*SsCW..
.make J￿￿ementsar￿ e5timatesthatare rea9x￿ble?r￿lWtskn¢
. srate whether applK¥W UK Att￿jn￿ tr*en 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 l*KÈ tskir% rea50nabk step5 for the
pmptknn.
Them￿tee5, reFxXtwa%appr￿￿￿￿tt￿Evard ofTrL&e
M*rshaLee
Doted..
151212022

INDEPENDENT EXAMINÉRS REPIXT
TOTHE TRUStEES OF ISRAEL PHIiHARMONIC ORaiEStRA FOUNDATION UK
I rewrt to the tFUStee5 on my eXarrmr￿wJn of th2 fin*Ki¥ 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 fir*ntyal
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 ReFti*ne5tsTr1ardapF4Kable tntheVKand ReputthrflrelwKI (FR$ 1021.
drawn iAthi5 rt5Vrtin utdertotrawe UTrJeT#anth￿ Clthefina￿70l5t￿tE￿￿tO bp tEathed.
U5eolthhTewl
report is made to the Ltharil*E 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(
orfOrtt*o￿ni￿n5l
M*rnahSM>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 IK*bIl￿¢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

DocuS*n 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 Chafit*s 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￿Jnd*I￿ BÈnÈfft Ertityasdefined ￿FR5 102.
ammtsin th￿fin￿¥SaI statem￿ts are roundedtothe
dequatE resour￿S to continue in Operati(W￿ ￿tstenCe for the foresee4E*I￿￿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
cO5t5reL*w%toth￿O￿rtv.
Jertaken.
Cash and Lthequpnknts in£byJecath inh0rfdEW￿t$￿e￿￿atca1*ryth
ThE FOvndatK)Th hasekthd th app￿*the 11 FrkiKial lr6tr1￿n￿ t*FK4 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 of8ov*M￿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