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|||Page|
|---|---|---|
|Charity
Information|||
|Report ofthe Trustees||2 —6|
|Independent
Auditor's|Report||
|Statement of Financial|Activities|10|
|Balance Sheet|||
|Notes to the Financial|Statements|12-18|
|Trustees||||Mr Oliver Parr (Chairman)|Mr Oliver Parr (Chairman)|Mr Oliver Parr (Chairman)|||
|---|---|---|---|---|---|---|---|---|
|||||Mrs Tessa King-Farlow||(Vice-Chairman)|||
|||||Mr Alex Beard CBE|||||
|||||Ms Felicity Clark (resigned 23 February 2022)|||||
|||||The Earl of Darnley|||||
|||||Mr Neil Dolby|||||
|||||Mr Greg Jauncey (appointed 23|||February 2022)||
|||||Mr Andrew
Kaufman|MBE||||
|||||Ms Eleanor Sepanski|||||
|||||Mrs Nicki Spencer|||||
|||||All Trustees were appointed
on incorporation||||on 1 February 2021|
|||||unless otherwise
stated|||||
|Charity Registration|||Number|1193337|||||
|Principal|Office|||Royal Opera House|||||
|||||Covent Garden|||||
|||||London|||||
|||||WC2E 9DD|||||
|Key Management||||Chang Loo —Secretary||(to 30June 2022)|||
|||||Matthew
Dewhirst —Secretary (from 1 July 2022)|||||
|||||Maureen
Baker —Welfare &Administration||||Officer|
|||||Rose Goodman
—OHU||Advisor|||
|Banker||||Coutts &Co|||||
|||||440 Strand|||||
|||||London|||||
|||||WC2R OQS|||||
|Statutory||Auditor||Azets Audit Services|||||
|||||Greytown
House|||||
|||||221-227 High Street|||||
|||||Orpington|||||
|||||Kent|||||
|||||BR6ONZ|||||
|Investment||managers:||BlackRock Advisors|(LIK) Limited||||
|||||12Throgmorton
Avenue|||||
|||||London|||||
|||||EC2N 2DL|||||
|||||Newton
Investment
160Oueen Victoria|Management
Street||Limited||
|||||London|||||
|||||EC4V 4LA|||||
|||||Ruffer LLP|||||
|||||80Victoria Street|||||
|||||London|||||
|||||SW1E5JL|||||
|||||Trojan Asset Management|||||
|||||33Device Street|||||
|||||London|||||
|||||W1A 5JA|||||
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||||||||Unrestricted
funds|
|---|---|---|---|---|---|---|---|
||||||||31 March 2022|
|||||||Notes|6|
|Income from:||||||||
|Donations and legacies|||||||2,106|
|Grants receivable|||||||50,000|
|Investment
income|||||||82,461|
|Transfer offunds from Royal||Opera||House||||
|Benevolent
Fund registered||charity|||||7,335,657|
|Total income|||||||7,470,223|
|Expenditure
on:||||||||
|Charitable
activities||||||||
|Benevolent grants payable||||||6|534,395|
|Counselling||||||8|5,457|
|Occupational
Health|Unit|||||9|106,489|
|Welfare Support costs||||||10|63,902|
|Total expenditure|||||||710,243|
|Net income and net movement
in
gains and losses on investments||||funds before|||6,759,980|
|Net gains /(losses)
on investment||||assets||16|473,816|
|Net movement
in funds|||||||7,233,796|
|Fund balances||||||||
|Fund balance brought|forward||1|February|2021|||
|Fund balance carried forward 31||||March 2022|||7,233,796|
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|2.|DONATIONS
AND LEGACIES|DONATIONS
AND LEGACIES|DONATIONS
AND LEGACIES|||||31.3.22|
|---|---|---|---|---|---|---|---|---|
|||||||||8|
||Donations|||||||104|
||Legacies|||||||2,002|
|||||||||2,106|
|3.|GRANTS|RECEIVABLE||||||31.3.22|
|||||||||8|
||Headley Trust: Covid-19 support|||grant||||10,000|
||Acting for|Others: Covid-19 emergency|||funding|||40,000|
|||||||||50,000|
||INVESTMENT INCOME|||||||31.3.22|
|||||||||6|
||Dividends|receivable|from investments||and interest receivable||from fixed||
||interest securities and||deposits|with investment||managers||82,418|
||Interest receivable|||||||43|
|||||||||82,461|
##
|ANALYSIS OF EXPENDITURE|ANALYSIS OF EXPENDITURE|Staff|Direct|Support|Total|
|---|---|---|---|---|---|
|||costsf|costs
f|costs
f|31.3.22|
|Charitable
activities||||||
|Benevolent grants payable||3,373|520,034|10,988|534,395|
|Counselling||36|5,304|117|5,457|
|Occupational
Health|Unit|673|103,624|2,192|106,489|
|Welfare costs||60,551|2,036|1,315|63,902|
|||64,633|630,998|14,612|710,243|
##
|BENEVOLENT GRANTS|PAYABLE|||31.3.22|
|---|---|---|---|---|
||||Number of||
||||Recipients||
|Allowances
for beneficiaries
in financial||need|17|63,655|
|Other benevolent
grants|(Individuals)||28|18,576|
|Other benevolent
grants|(Covid-19)||60|106,750|
|Other benevolent
grants|(Organisations|—note 7)|7|331,053|
|Support staff costs (note|13)|||3,373|
|Allocated support costs||||10,988|
|||||534,395|
|BENEVOLENT GRANTS|TO ORGANISATIONS|||31.3.22|
|||||6|
|Dancers' Career Development||||49,700|
|Birmingham
Royal Ballet||||121,521|
|Ex Cathedra||||5,500|
|Royal Ballet School
—Healthy Dancer Programme||||20,000|
|Dance Professional
Fund|(RBBF)|||5,500|
|Sloane Square Choral Society||||2,200|
|The Royal Opera House||||126,632|
|||||331,053|
|COUNSELLING (Employee Assisted||||31.3.22|
|Prog ramme)||||2|
|Counselling||||5,304|
|Support staff costs (note|13)|||36|
|Allocated support costs||||117|
|||||6,467|
|9.|OCCUPATIONAL
HEALTH UNIT|31.3.22|
|---|---|---|
|||E|
||Osteopathy|103,624|
||Support staff costs (note 13)|673|
||Allocated support costs|2,192|
|||105,489|
|10.|WELFARE SUPPORT COSTS|31.3.22|
|||E.|
||Direct staff costs (note 13)|60,147|
||Other expenses|2,036|
||Support staff costs (note 13)|404|
||Allocated support costs|1,315|
|||63,902|
|11.|SUPPORT COSTS|31.3.22|
||Other expenses|1,542|
||Accountancy
fees|8,150|
||Governance
(note 12)|4,920|
|||14,612|
|12.|GOVERNANCE COSTS|31.3,22f|
||Auditors'
remuneration|4,920|
|13.|STAFF COSTS|31.3.21|
|||E|
||Wages and salaries|55,184|
||Social Security costs|5,023|
||Pension costs|4,426|
|||64,633|
|15.|TANGIBLE FIXED|ASSET|S||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||OHU|Office||
||||||||Equipmentf||Equipmentf|Totalf|
||Cost||||||||||
||Transfer offunds from Royal|||Opera|||||||
||House Benevolent|Fund||||||7,852|139|7,991|
||At 31 March 2022|||||||7,852|139|7,991|
||Depreciation||||||||||
||Transfer offunds from Royal|||Opera|||||||
||House Benevolent|Fund||||||7,852|139|7,991|
||At 31 March 2022|||||||7,852|139|7,991|
||Net BookValue||||||||||
||At 31 March 2022||||||||||
|16.|INVESTMENTS||||||||||
||Transfer offunds
from Royal|||Opera House|||||||
||Benevolent
Fund|||||||||6,954,391|
||Additions|||||||||24,797|
||Disposals|||||||||(420,119)|
||Investment
gains /|(losses)||||||||473,816|
||Market value at 31|March 2022||||||||7,032,885|
||Histoncal cost at 31 March||2022|||||||5,271,158|
||Market value of investments|||oom|rise||||||
||UK listed investments|||||||||5,406,614|
||Overseas
listed investments.|||||||||1,626,271|
|||||||||||7,032,885|
||The following each|represent||more|than 5%ofthe total market value|||of investments:|||
||BlackRock Charities
UK Equity Index Fund|||||||||691,972|
||Newton
Real Return Exempt|||Fund|(Inc)|||||1,457,549|
||CF Ruder Absolute|Return|CAcc|||||||1,569,390|
||BlackRock North America||Index Fund Flexible Distributing||||Class|||1,237,725|
||BlackRock Europe|EX-UK|Index Fund Flexible Distributing||||Class|||388,545|
||BlackRock Emerging
Markets|||Index Fund||Institutional||||431,171|
||Trojan Investment|Fund S|income|||||||1,256,533|
##
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##
|DEBTORS||
|---|---|
||31.3.22|
||8|
|Loans to beneficiaries|18,391|
|Prepayments|2,427|
||20,818|
|18.|CREDITORS: Amounts|falling due|||
|---|---|---|---|---|
||within one year||||
|||||31.3.22|
|||||8|
||The Royal Opera House|Covent Garden|Limited|40,432|
||Grants payable|||5,500|
||Accrued expenses|||6,600|
|||||52,532|