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|||Page|
|---|---|---|
|Legal and administrative|information||
|Trustees'<br>report||2-3|
|Statement<br>of trustees'|responsibilities||
|Independent<br>examiner's|report||
|Statement<br>of financial|activities||
|Balance sheet|||
|Notes to the accounts||8-10|





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|Settlor|||Kurt Rolf Richard|Kurt Rolf Richard|Bjorklund|Bjorklund|Bjorklund||
|---|---|---|---|---|---|---|---|---|
|Trustees|||Kurt Rolf Richard||Bjorklund||||
||||Kim Pontus Aldell||(Retired||10April 2019)||
||||Dahlia Bjorklund||(Appointed|||10April 2019)|
|Date ofsettlement|||31 May 2017||||||
|Charity number|||1173473||||||
|Principal|address||20 Old Bailey||||||
||||London||||||
||||EC4M 7AN||||||
|Accountants|||Smith<br>Et Williamson|||LLP|||
||||Portwall<br>Place||||||
||||Portwall<br>Lane||||||
||||Bristol||||||
||||BS1 6NA||||||
|Independent||examiner|PJE Chartered|Accountants|||||
||||2 Oakfield<br>Road||||||
||||Clifton||||||
||||Bristol||||||
||||BS82AL||||||
|Bankers|||J P Morgan<br>International||||Bank Limited||
||||1 Boulevard<br>du|Roi||Albert|II||
||||B-1210Brussels||||||
||||Belgium||||||
|Solicitors|||Withers<br>LLP||||||
||||20 Old Bailey||||||
||||London||||||
||||EC4M 7AN||||||





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||||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|
||||||funds|funds|
||||||Total|Total|
||||||2020|2019|
||||Notes|Page|E|E|
|Income and endowments|||||||
|Donations<br>received|||||263,737|183,600|
|Deposit interest|||||1|97|
|Gift aid|||||65,934|20,093|
|Total income|||||329,672|203,790|
|~Ex enditure|||||||
|Charitable<br>activities|||||||
|Grants payable|||||(69,109)||
|Governance<br>costs|||||||
|Accountancy<br>fees|||||(2,640)|(2,580)|
|Independent<br>examiner fees|||||(505)|(600)|
|Bank charges|||||(322)|(91)|
|Legal fees|||||(1,&47)|(1,961)|
|Total expenditure|||||(74,423)|(5,231)|
|Other recognised||gains/(losses):|||||
|Gains/(losses)|on foreign exchange||||(4,457)|(9,214)|
|Net movement|in|funds|||250,792|189,345|
|Fund balances|at 1 June 2019||||(3&2,341)|(571,685)|
|Fund balances|at|31 May 2020|||(131,549)|(382,341)|





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|||||||||2020||2019|
|---|---|---|---|---|---|---|---|---|---|---|
||||||Notes|Page||E||E|
|Current assets|||||||||||
|Debtors|||||||215,157||149,223||
|Cash at bank and in||hand|||||9,514||4,656||
||||||||224,671||153,879||
|Liabilities|||||||||||
|Creditors:|amounts|falling||due|8||||||
|within<br>one year|||||||(179,700)||(183,180)||
|Total assets|less current||liabilities|||||44,971||(29,301)|
|Creditors: amounts||falling due|||9||||||
|after more|than one year|||||||(176,520)||(353,040)|
|Net assets||||||||(131,549)||(382,341)|
|Funds|||||||||||
|Unrestricted|funds|||||||(131,549)||(382,341)|
|||||||||(131,549)||(382,341)|





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|1|Accounting<br>policies|Accounting<br>policies|||||||(C|ont|inued)|
|---|---|---|---|---|---|---|---|---|---|---|---|
|1.8|Foreign exchange|||||||||||
||Foreign currency transactions|||are converted|to|sterling|on|the date of transaction.||||
||Grant commitments|at the year end in foreign||||currency||are converted|to sterling<br>or revalued||using|
||the exchange rate|on 31|May 2020.|||||||||
|2|Donations||||||||2020||2019|
||||||||||E||E|
||Mr Kurt Bjorklund||||||||263,737|183,600||
||||||||||263,737|183,600||
|3|Legal status ofthe trust|||||||||||
||The charity is governed||by a trust deed dated 31 May||||2017.|||||
|4|Grants payable||||||||2020||2019|
||||||||||E||E|
||Teach First||||||||50,000|||
||Zeitz Foundation||||||||19,109|||
||||||||||69,109|||
||Reconciliation<br>of|grants|payable|||||||||
||Commitments<br>at 1|June|2019||||||529,560|702,240||
||Grants payable for the year|||||||||||
||Grants paid during|the year|||||||(181,338)|(179,231)||
||Foreign exchange|(gain)/loss|||||||4,818||6,551|
||Commitments<br>at 31 May||2020||||||353,040||529,560|
||Commitments<br>at 31 May||2020|are payable|as follows:|||||||
||Within one year||||||||176,520||176,520|
||After more than one year||||||||176,520||353,040|
||||||||||353,040||529,560|
|5|Related party transactions|||||||||||



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|7|Debtors|||||2020|2019|
|---|---|---|---|---|---|---|---|
|||||||E|E|
||Gift aid receivable|||||215,157|149,223|
|||||||215,157|149,223|
|8|Creditors: amounts|||failing due within|one year|2020|2019|
|||||||E|E|
||Accountancy|fees -||Smith R Williamson|LLP|2,460|5,460|
||Independent|examiner fees||||720|1,200|
||Grants payable||- The INSEAD Foundation|||176,520|176,520|
|||||||179,700|183,180|
|9|Creditors:|amounts||falling due after more than one year||2020|2019|
|||||||E|E|
||Grants payable||- The INSEAD Foundation|||176,520|353,040|
|||||||176,520|353,040|