2022-03-21-accounts - Anglo-Swedish Literary Foundation

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THE ANGLO-SWEDISH LITERARY FOUNDATION ANNUAL REPORT FOR THE YEAR ENDED 21 MARCH 2022

THE ANGLO-SWEDISH LITERARY FOUNDATION

TRUSTEES’ REPORT FOR THE YEAR ENDED 21 MARCH 2022

ANNUAL REPORT OF THE TRUSTEES

The Trustees present their report and the independently examined accounts for the year ended 21 March 2022.

Legal and administrative information

The Anglo-Swedish Literary Foundation is a registered charity no. 230622.

The principal address of the Charity is 11 Montagu Place, London, W1H 2AL.

The Charity is governed by a Deed of Trust dated 21 March 1927.

The Charity Trustees who served during the year were:

T. Sohlström (resigned 15 August 2021) P. Lundberg A. Theander M. Kumlin Granit (appointed 23 August 2021)

The Trustees can appoint new Trustees.

Accountants

Wilder Coe Ltd 1[st] Floor Sackville House 143-149 Fenchurch Street London EC3M 6BL

Bankers & Investment Advisers

Investec Wealth and Investment 2 Gresham Street London EC2V 7PQ

Handelsbanken 3[rd] Floor, 86 Jermyn Street London SW1Y 6JD

Objectives and activities

The objects of the Charity are the encouragement of cultural intercourse between Sweden and the British Islands through the promotion and diffusion of knowledge and appreciation of the literature and art of Sweden in the British Islands.

Organisation

The Charity is administered from its principal office and does not have connections with any other organisations other than by receiving donations from or making donations to them.

The Charity’s Trustees are responsible for the preparation of the accounts.

THE ANGLO-SWEDISH UTERARY FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 21 MARCH 2022 ResoNes policy The Charity maintains ils funds at a level sufficient lo meet r(s expenses. Review of progress and achlevements The Charity discharged its functions satisfactorily in rèlation to ils objects. Review of financial statements and affairs The Charity continued lo receive income from its investment portfolio, managed by Investe¢. Purchases of Equities al a cost of £48,075 (2021.. £46.773) were made in the year. Disposals of Equities at original cost of £41,598 f2021.. £41, 148) were made in the year. Th8 profrt on thes@ disposals was £20,835 (2021.. £4,565 lossj. The overall value of the investments held by the Charity has decreased due lo the downturn in market conditions during the year. This has resulted in a loss on revaluation of £6,683 (2021., £84, 196 gain) which has been rècognssed in the Receipts and Payment AGGount. 11 is the expectation of the Trustees that the value of investments held will continue lo fluctuate with the global market. P. Lunclberg, Twslee Date,. On behalf of the board of Trustees

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE ANGLO-SWEDISH LITERARY FOUNDATION CHARITY

I report to the trustees on my examination of the accounts of The Anglo-Swedish Literary Foundation (“the Charity”) for the year ended 21 March 2022 which comprises the Summary of Receipts and Payments, the Statement of Assets and Liabilities and related notes.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the Charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no audit opinion on the accounts and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the accounts do not accord with these records.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Independent Examiner’s Name: Relevant professional qualification or body: Name of firm: Address:

………………………………… ….. C h ar l o tt e Will more BFP ACA ICAEW Wilder Coe Ltd 1[st] Floor Sackville House 143-149 Fenchurch Street London EC3M 6BL

Date: ……………………………16 January 2022

THE ANGLO-SWEDISH LITERARY FOUNDATION

RECEIPTS AND PAYMENT ACCOUNT

FOR THE YEAR ENDED 21 MARCH 2022

£ £ 6,411 20,835 - 27,246 9,822 4,200 4,059 608 6,683 - (25,372) 1,874 2022 Unrestricted Funds	£ £ 6,354 - 84,196 90,550 9,100 2,100 4,151 - 4,565 (19,916) 70,634 2021 Unrestricted Funds	£ £ 6,354 - 84,196 90,550 9,100 2,100 4,151 - 4,565 (19,916) 70,634 2021 Unrestricted Funds
9,822 4,200 4,059 608 6,683 -	9,100 2,100 4,151 - 4,565

		70,634

These financial statements have been prepared on a receipts and payments basis.

THE ANGLO-SWEDISH LITERARY FOUNDATION STATEMENT OF ASSETS & LIABILITIES AS AT 21 MARCH 2022 2022 2027 INVESTMENTS Note I 404,287 404,493 CURRENT ASSETS Cash at bank NET CURRENT ASSETS 5,781 3, TOI 5,781 5, 101 NET sSETS 410,068 408 194 REPRESENTED BY.. CHARITY FUNDS Unrestrlcted Funds Balance brought forward 408.194 337,580 Exces5 01 ieciepts over payments 1,874 70,634 P. Lundberg Dale..

THE ANGLO-SWEDISH LITERARY FOUNDATION

NOTES TO THE ACCOUNTS

NOTE 1 - INVESTMENTS

Market Value at 22 March 2021 Additions Disposals Loss on revaluation of investments Market Value at 21 March 2022	404,493 48,075 (41,598) (6,683)
	404,287

NOTE 2 - INVESTMENTS VALUATION

Investments have been recognised in the financial statements at £404,287, which represents the Trustees' best estimate of the market value of investments as at 21 March 2022, in accordance with paragraph 10.44 of the SORP. This estimate is based on the market valuation provided by the charity's independent investment management company, Investec, as at 5 April 2022.

The overall value of the investments held by the Charity has decreased due to the recent downturn in market conditions during the year. This has resulted in a loss on revaluation of £6,683 which has been recognised in the Receipts and Payment Account. It is the expectation of the Trustees that the value of investments held will continue to fluctuate with the global market.