2023-04-05-accounts

	Page
Trustees' report	1 -2
Statement of Trustees' responsibilities	3
Independent auditor's report	4-6
Statement of financial activities	7
Balance sheet	8
Statement of cash flows	9
Notes to the financial statements	10-15

12/3/2024

		Unrestricted	Unrestricted
		funds	funds
		2023	18 month
			period
			ended 5
			April 2022
	Notes	£	£
Income from:
Donations and legacies	2	4,100,000	1,000,000
Investments	3	15,032
Total income		4,115,032	1,000,000
Expenditure on:
Charitable activities	4	598,861	3,000
Net gains/(losses) on investments	8	(81,056)	(62,183)
Net incoming resources		3,435,115	934,817
Other recognised gains and losses
Other gains or losses	10	(149,030)
Net movement in funds		3,286,085	934,817
Fund balances at 6 April 2022		934,817
Fund balances at 5 April 2023		4,220,902	934,817

		2023			18 month
					period ended
					5 April 2022
	Notes	£	£	£	£
Fixed assets
Investments	11				937,817
Current assets
Debtors	12	4,000,000
Cash at bank and in hand		263,522
		4,263,522
Creditors: amounts falling due within
one year	13	(42,620)		(3,000)
Net current assets/(liabilities)			4,220,902		(3,000)
Total assets less current liabilities			4,220,902		934,817
Income funds
Unrestricted funds			4,220,902		934,817
			4,220,902		934,817

			2023			18 month
						period ended
						5 April 2022
	Notes	£		£	£	£
Cash flows from operating activities
Cash (absorbed by)/generated from	16
operations				(608,271)		1,000,000
Investing activities
Purchase of investments					(1,000,000)
Proceeds from disposal of investments		856,761
Investment income received		15,032
Net cash generated from/(used in)
investing activities				871,793		(1,000,000)
Net cash used in financing activities
Net increase in cash and cash equivalents				263,522
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year				263,522

	Unrestricted	Unrestricted
	funds	funds
	2023	18 month
		period
		ended 5
		April 2022
	£	£
Donations and gifts	100,000
Legacies receivable	4,000,000	1,000,000
	4,100,000	1,000,000

3	Investments
		Unrestricted	Total
		funds
		2023	18 month
			period
			ended 5
			April 2022
		£	£
	Income from listed investments	15,032
4	Charitable activities
		2023	18 month
			period
			ended 5
			April 2022
		£	£
	Audit fees	3,600	3,000
	Legal fees	15,000
	Tax preparation fees	1,020
		19,620	3,000
	Grant funding of activities (see note 5)	579,241
		598,861	3,000
5	Grants payable
			18 month
			period
			ended 5
			April 2022
		2023
		£	£
	Grants to institutions:
	Other	579,241

THE RDJ FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

7 Employees

The average monthly number of employees during the year was:

	2023	18 month
		period ended
		5 April 2022
	Number	Number
Total	-	-

There were no employees whose annual remuneration was more than £60,000.

8 Net gains/(losses) on investments

	Unrestricted Unrestricted	Unrestricted Unrestricted
	funds	funds
	2023	18 month
		period
		ended 5
		April 2022
	£	£
Revaluation of investments	(81,056)	(60,703)
Gain/(loss) on sale of investments	-	(1,480)
	(81,056)	(62,183)

9 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

10 Other gains or losses

Other gains or losses
	Unrestricted	Total
	funds
	2023	18 month
		period
		ended 5
		April 2022
	£	£
Foreign exchange (gains)/losses	149,030	-

11 Fixed asset investments

• 13 -

11	Fixed asset investments			(Continued)
		Investment	Cash in	Total
		portfolio	portfolio
		£		£
	Cost or valuation
	At 6 April 2022	911,961	25,856	937,817
	Valuation changes	(81,056)	(25,856)	(106,912)
	Disposals	(830,905)		(830,905)
	At 5 April 2023
	Carrying amount
	At 05 April 2023
	At 05 April 2022	911,961	25,856	937,817
12	Debtors
			2023	18 month
			period ended 5
				April 2022
	Amounts falling due within one year:		£	£
	Other debtors		4,000,000
13	Creditors: amounts falling due within one year
			2023	18 month
			period ended 5
				April 2022
			£	£
	Grants outstanding		20,000
	Accruals and deferred income		22,620	3,000
			42,620	3,000

Analysis of net assets between funds
	Unrestricted	Unrestricted
	funds	funds
	2023	18 month
		period
		ended 5
		April 2022
	£	£
Fund balances at 5 April 2023 are represented by:
Investments		937,817
Current assets/(liabilities)	4,220,902	(3,000)
	4,220,902	934,817

	There were no disclosable related party transactions during the year.
16	Cash generated from operations	2023	18 month
		period ended 5
			April 2022
		£	£
	Surplus for the year	3,435,115	934,817
	Adjustments for:
	Investment income recognised in statement of financial activities	(15,032)
	Foreign exchange differences	(149,030)
	(Gain)/loss on disposal of investments		1,480
	Fair value gains and losses on investments	81,056	60,703
	Movements in working capital:
	(Increase) in debtors	(4,000,000)
	Increase in creditors	39,620	3,000
	Cash (absorbed by)/generated from operations	(608,271)	1,000,000
17	Analysis of changes in net funds/(debt)
	The Foundation had no debt during the year.