2024-03-21-accounts - Anglo-Swedish Literary Foundation

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THE ANGLO-SWEDISH LITERARY FOUNDATION ANNUAL REPORT FOR THE YEAR ENDED 21 MARCH 2024

THE ANGLO-SWEDISH LITERARY FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 21 MARCH 2024 ANNUAL REPORT OF THE TRUSTEES The Trustees presènt their report and the independently examined accounts for the year ended 21 March 2024. Legal and admlnlstrative Information The Ang50-Swedish Lllerary Foundation is a registered charity no. 230622. The principal address of the Charity 1$ 11 Monlagu Place, London, W1 H 2AL. The Charty is governaé by a Deed of Tru81 dated 21 March 1927. The Charity Twslees who served during the year were.. P, Lundberg IresSgned 12 December 20231 A. Theander (resigned 30 SeplembeT 20241 M. Kumlin Granil Ireslgned 7 February 20241 L. E. J. Georgsson lappoinled 12 December 2023 and resigned 30 August 20241 L. S. Gullgren lappolnled 7 February 20241 The follDw*ng Trustees were appointed after the year end: E. L. Norqvisl18ppoinled 30 August 20241 A. siaibo Yazgan lappoinled 30 September 20241 The Trustees can appoint new Trustees. Accountants Wilder Coe Ltd 18l Floor Sackville House 143-149 Fenchurch Sl¥eel London EC3M 68L Bankers & Investment AdvlseTS Invèslec Wealth and Investment 2 Gresham Stre81 London EC2V 7PQ Handelsbanken 3rd Floor, 86 Jermyn Street London SW1Y 6JD Obloctlves and actlvltles Th8 objects of the Charity are the encouragement of cultural intercourse between Sweden and the British Islands through the promotion and diffusion of knoedge and appre¢kqlion of the literature art of Sweden in the Brflish Islands.

THE ANGLO-SWEDISH LITERARY FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 21 MARCH 2024 Organisatlon The Charity is administered from its principal Offi and does not have connections with any other organisalions other than by r8BeNing donations from or m8king donatlons to them. The Charity's Tru8188s are responsible for the preparaliLX) of the accounts. Resfrrves policy The Charity maintain5 Ils funds al a level suffiGienl to meet ils expenses. Revlew of progress and achievements The Charity discharged ils functions satisfaclorily in relation lo its objects. Review of flnancial statements and affalrs The Charity continued lo receive income from ils inveslm&nt portfolio, managed by Inveslec. Purchases of Equltles at a cost of £35,488 (2023,. £95,443? were made In th8 year. Disposals of Equities al origin81 cost of £46,082 (2023.. £85,676) wera made in the year.. The profi'l on these disposals was £5,592 (2023.. £16, 158). The overall value of the investments held by th9 Charity has increased due lo the upturn in market conditions during the year. This has resulted In a gain on revaluation of £21.885 (2023.. loss on revaluation of £40.794) which has been recogni8ed in the Receipts and Payment Account, It is the expectation of the Trustees that the value of inveslmenls held will continije to Ilucluale with the global market. Trustee Dale.. On behalf of the board of ruslees

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 2024 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:

17/01/2025

Date: ……………………………

……………………………………... Charlotte Willmore BFP ACA ICAEW Wilder Coe Ltd 1[st] Floor Sackville House 143-149 Fenchurch Street London EC3M 6BL

THE ANGLO-SWEDISH LITERARY FOUNDATION RECEIPTS AND PAYMENT ACCOUNT FOR THE YEAR ENDED 21 MARCH 2024 Unrestrfcted Funds 2024 LlnreslriGt8d Funds 2023 RECEIPTS Investment income Galn on disposal of Investments Bank inleresl Galn on revaluallon of investments 9,814 5,592 153 21,885 8,985 16, 158 116 Note 2 37.444 25,259 PAYMENTS Charitab19 Actlvltles.. Grants. donations and ITanslalion8 Accountancy Fund management charges Sundry Loss on the revaluation of invÈstmen15 12,965 8.700 2. 160 4.572 1,501 40, 794 4,420 1,805 Note 2 119.1901 (57. 733) EXCESS RECIEPTS OVER PAYMENTSI {PAYMENTS OVER RECIEPTSI 18,254 32,474) These finandal statements havg bBèn prepared on 8 reIp1s and payments ba815.

THE ANGLO.SWEDISH LITERARY FOUNDATION STATEMENT OF ASSETS & LIABILITIES AS AT 21 MARCH 2024 2024 2023 INVESTMENTS Note 1 3B4,550 373,260 CURRENT ASSETS Cash al bank 11,298 4,334 NET CURRENT ASSETS 11,298 4,334 NET ASSETS 395,84B 377,594 REPRESENTED BY: HARITY FUNDS Unras Fun Balance brought forward 377,SP4 410,068 Exc8ss ol re¢iepts over payment8 I (payments ower ie¢ieplsl 18.254 (52,474) 396,848 37T 594 L. S. Gullgon Dale..

THE ANGLO-SWEDISH LITERARY FOUNDATION NOTES TO THE ACCOUNTS NOTE 1 - INVESTMENTS Market Value al 22 March 2023 Addition Disposals Gain on revaluation of invèstments Nlarkgt Value at 21 March 2024 375.260 35,487 {48,0821 21,885 384,550 NOTE 2 - INVESTMENTS VALUATION Investments have been recojnised in the linanaal slalemenls 8t £384,550 which represents the Trustees, best estimate of thè market value ol investments as al 21 March 2024. in accordance wlh paragraph 10.44 of the SORP. This è$llmate is ba8ed on the market valuation provided by the charitys Independent inv¢slmenl management company, Inve8lec, as at 5 April 2024. The overall value of the investmen18 held by the Charity has increased due lo the recent downturn in market conditions during the year. This has resulted bn a gain on revaluation of £21,885 which has been recognised i the R8ceipls and Paymènt Account. It18 the expectation of the Trustees that the value of investmen15 held will conllnue lo flucluale wllh the 9lobal market.