THE WEIZMANN INSTITUTE FOUNDATION Company Limited by Guarantee
## TRUSTEES’ REPORT & FINANCIAL STATEMENTS
## 30 September 2025
Company Registration Number 483123 Charity Registration Number 232666
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) TRUSTEES AND PROFESSIONAL ADVISORS FOR THE YEAR ENDED 30 SEPTEMBER 2025
|Contents|Page|
|---|---|
|Trustees and Professional Advisors|2|
|Trustees’ Annual Report|4|
|Independent Auditors’ Report to the members||
|of the Weizmann Institute Foundation (Weizmann UK)|13|
|Statement of Financial Activities|17|
|Summary Income and Expenditure Account|18|
|Statement of Total Recognised Gains and Losses|18|
|Balance Sheet|19|
|Cash Flow Statement|20|
|Notes to the Financial Statements|21|
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THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) TRUSTEES AND PROFESSIONAL ADVISORS FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Trustee Directors in office during the year and up to the date of signing the financial statements:
Dr. Arabella Duffield (Chair) David Marks (Hon. Treasurer) Dr. Iris Good Dean Lush Martin Paisner CBE Denis Raeburn Bianca Roden Denitza Roussinova Michael Sandler Hayley Sieff Simon Sturge Charles Wolfson Townsley
Hon. Secretary Jonathan Kropman
‐ The following sub committees were in place during the year:
Investment Committee Risk Committee Denis Raeburn (Chair) Jonathan Kropman (Chair) Jonathan Kropman David Marks Denitza Roussinova Dr. Arabella Duffield (ex officio) Charles Wolfson Townsley Remuneration Committee Audit Committee Dean Lush (Chair) David Marks (Chair) Jonathan Kropman Jonathan Kropman David Marks Simon Sturge Dr. Arabella Duffield (ex officio)
Audit Committee David Marks (Chair) Jonathan Kropman Simon Sturge
Grant Governance Committee (est. 31 July 2025) Dr. Arabella Duffield (Chair) Jonathan Kropman David Marks Martin Paisner CBE Michael Sandler
Scientific Advisory Committee Dr. Iris Good (Chair) Life President Dame Vivien Duffield DBE
President Barry Townsley CBE
Vice Presidents Lord Mitchell Martin Paisner CBE Sir John Ritblat Lord Alliance CBE z’’l (d. 18 July 2025)
**2**
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) TRUSTEES AND PROFESSIONAL ADVISORS FOR THE YEAR ENDED 30 SEPTEMBER 2025
INVESTMENT MANAGERS Rothschild & Co. Wealth Management (UK) Limited New Court, St Swithin’s Lane London EC4N 8AL Weizmann Global Endowment Management Trust (W-GEM) 405 Lexington Avenue Suite 41 A New York NY 10174 INDEPENDENT AUDITORS HaysMac LLP 10 Queen Street Place London EC4R 1AG SOLICITORS Stone King LLP Boundary House 91 Charterhouse St London EC1M 6HR Womble Bond Dickinson (UK) LLP 4 More London Riverside London SE1 2AU BANKERS HSBC Bank Plc 90 Baker Street London W1U 6AX ACCOUNTANTS JS2 Limited One Crown Square Church Street East Woking, Surrey GU21 6HR
REGISTERED OFFICE Weizmann UK (Company Registration Number 483123) 1a Frognal 9 Hampstead Gate London NW3 6AL
**3**
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Board of Trustees (being the directors of The Weizmann Institute Foundation - known as Weizmann UK), presents its report and audited financial statements for the year ended 30 September 2025. The report and the financial statements have been produced in accordance with the provisions of the FRS 102 SORP – Accounting and Reporting by Charities – Second Edition, effective 1 January 2019, the Companies Act 2006, and the Charities Act 2011.
## SUMMARY OF THE YEAR
The year under review, was conducted against the backdrop of the ongoing conflict in Israel, which presented significant operational and strategic challenges for Weizmann UK and for its principal beneficiary, the Weizmann Institute of Science. These challenges were particularly acute during the escalation of hostilities between Iran and Israel in June 2025. On 15 June 2025, two missiles struck the Weizmann Institute campus, resulting in significant destruction. Fifty-two research laboratories, primarily in the life sciences, cancer research and environmental fields, were destroyed, and over 100 buildings were damaged. Five buildings, including two that were directly hit, were rendered inoperable. In response, and in line with its regulatory obligations, Weizmann UK submitted a Serious Incident Report to the Charity Commission.
The Weizmann Institute acted swiftly to stabilise operations, and Weizmann UK supported this response through its Emergency and Recovery Fund Appeal. As a result of the appeal, income increased significantly during the year, reflecting the charity’s active role in supporting recovery efforts. The appeal attracted substantial and very generous donor support, which raised over $40million or £29.4million. In parallel, Weizmann UK continued to deliver a programme of events and to promote scientific collaboration between the Weizmann Institute and the UK. While the challenging circumstances limited opportunities for formal educational outreach programmes during the year, Weizmann UK continued to promote public engagement with science.
## ACTIVITIES & ACHIEVEMENTS IN DETAIL
In the year ended 30 September 2025 the charity received donations and legacies of £34,819,463 (2024: £1,485,038) and awarded grants totaling £3,504,992 (2024: £2,748,536) to the Institute.
## EDUCATION & AWARENESS
The Institute engaged its international supporters throughout the year through a series of online events, ensuring they remained informed about developments on campus as well as research breakthroughs. Weizmann UK delivered a programme of in-person lectures in London. In October 2024, Prof. Roee Ozeri presented _Our Quantum Future_ . This was followed in December by the Annual Lecture delivered by Prof. Tamir Klein, _The Wonders of the Weizmann Tree Lab_ , which explored the role of trees in driving climate resilience. In May 2025, cancer researcher Prof. Ruth Scherz-Shouval presented her work on the tumour microenvironment and highlighted the Weizmann Institute’s initiatives to support women in science.
Educational engagement continued through the UK Safe-Cracking Physics Tournament for Year 12 students, which took place in February 2025 at Dulwich College. Winning teams participated in the Davidson Institute’s International Safe-Cracking Competition, held virtually in April 2025. Unfortunately, despite the successful recruitment of UK students, the Bessie Lawrence International Summer Science Institute was cancelled following the missile strike in June 2025.
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THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025
## SCIENTIFIC COLLABORATION
The Making Connections programme, which fosters collaboration between scientists in the UK and the Weizmann Institute, continued to support ongoing research projects during the year, although no new grants were awarded. Since its inception in 2008, the programme has initiated and funded nearly 80 collaborative research projects, involving scientists from the Weizmann Institute and more than 25 UK universities and research institutes.
To evaluate its impact and inform future development, an independent external review of the programme was completed in July 2025. The Trustees, in consultation with the Weizmann Institute, are now considering the findings of this evaluation to develop a strategic approach to sustaining and enhancing this important collaborative initiative.
## FUNDRAISING
Weizmann UK carries out fundraising activities to support its education and awareness-raising initiatives in the UK, as well as scientific research and educational projects at the Weizmann Institute and the Davidson Institute of Science Education in Israel. Registered with the Fundraising Regulator, Weizmann UK adheres to the Fundraising Code of Practice, ensuring that all activities are conducted legally, openly, honestly, and respectfully. No complaints were received during the year.
The Charity’s fundraising strategy focuses on engaging major individual donors who have established relationships with the Charity and its Trustees. Income is generated through new and existing supporters via special events, legacy gifts, and a major gifts programme. Additionally, online donations are encouraged through the Weizmann UK website and promotional communications. Weizmann UK does not engage third-party fundraising organisations.
In May 2025, the Weizmann Institute launched its first ever Global Fundraising Campaign _Empower Tomorrow,_ and Weizmann UK worked closely with the Institute and its International Committees participating in fundraising events in Monaco, Switzerland and America as well as in Israel.
This year, the charity’s fundraising efforts placed a particular emphasis on supporting the Institute’s Emergency and Recovery Fund and on supporting its Women in Science programme.
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THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025
## COMMUNICATIONS
Weizmann UK’s donor relations and communication activities comply fully with the Data Protection Act 2018, General Data Protection Regulations (GDPR), and the Privacy and Electronic Communications Regulations (PECR). Communications are delivered via mail, email, social media, and advertising, with consent obtained and recorded where required. All supporter information is securely stored, and rights are clearly outlined in the Privacy Policy, which is readily available. Supporters can update their communication preferences at any time. All policies are reviewed annually, with oversight provided by the Risk Committee, which reports to the Board of Trustees.
No GDPR complaints or safeguarding issues were reported during the year. Weizmann UK has robust procedures in place to manage complaints and issues in line with Charity Commission guidance and regulations. The Risk Sub-Committee confirmed that the Charity’s risk controls and monitoring responsibilities are appropriate and effectively implemented.
Supporter engagement involved regular eNewsletters, magazine mailings, and social media updates throughout the year.
## LOOKING AHEAD
In the coming year, Weizmann UK will focus on connecting more supporters with the Weizmann Institute’s groundbreaking research.
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THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025
## STRUCTURE, ORGANISATION, GOVERNANCE & LEGAL STRUCTURE
Weizmann UK (its registered corporate name being The Weizmann Institute Foundation) is a company limited by guarantee (registration number 483123), which was incorporated on 8 June 1950. It operates under the name of Weizmann UK. Its constitution and principal regulations are set out in its Memorandum and Articles of Association. Weizmann UK is a registered charity (registration number 232666). The registered office is 9 Hampstead Gate, 1a Frognal, London NW3 6AL.
Weizmann UK’s charitable objectives include providing financial and material assistance, encouragement and support to and for pure and applied scientific research and related activities at the Weizmann Institute of Science.
## MISSION
Weizmann UK’s mission is to raise funds for, and awareness of, the pioneering research of the Weizmann Institute of Science; nurture the next generation of leading scientists; and promote collaboration between the Institute’s scientists and those at scientific institutions in the UK.
Weizmann UK delivers public benefit in the UK through its events and education programmes; and globally by funding and promoting science for the benefit of humanity.
## GOVERNANCE AND MANAGEMENT
All members of the Board of Trustees are directors of Weizmann UK. No director had any material interest in any contract or arrangement with Weizmann UK during the year with the exception of those disclosed in note 16.
The Board of Trustees is responsible for the activities of Weizmann UK. The Executive Director directs the day-to-day operation of the organisation.
At every Annual General Meeting, Trustees subject to retirement by rotation (after serving a term of not more than four years) retire from office and may offer themselves for re-election in accordance with the Articles of Association. New Trustees are appointed by the Board of Trustees. During the year, the Articles of Association were amended to remove the previous maximum limit on consecutive years of trustee service, where continued service is in the best interests of the charity and subject to appropriate assessment of individual skills and experience. An additional amendment enables the removal of a trustee by an 80% majority of the Board.
All Trustees are members of the Company for Companies Act purposes and have a maximum liability of £10.
During the year, the Board established a Grant Governance Committee as a sub-committee of the Board. The Committee provides oversight of all grants made by Weizmann UK to the Weizmann Institute of Science and to partner or collaborative institutions in the UK, ensuring compliance with legal and regulatory requirements, alignment with the charity’s purposes, and appropriate due diligence, risk assessment, monitoring and reporting. The Committee makes recommendations to the Board, with final decisions remaining reserved to the Board.
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THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025
## POLICY & PROCEDURES
Pay policy for senior staff:
The Remuneration Committee, Chaired by Dean Lush with David Marks, Jonathan Kropman and with Dr. Arabella Duffield as an ex officio member, meet as required to oversee the pay policy for the organisation. The pay of staff is generally reviewed annually in accordance with performance and relevant benchmarks.
The Trustees consider the Board of Trustees and senior management comprise the key management personnel of the charity in charge of directing and controlling, running and operating the Charity on a day ‐ to ‐ day basis. All Trustees give of their time freely and no Trustee received remuneration in the year. Details of Trustees’ expenses and related party transactions are disclosed in Note 4 and related party transactions are included in Note 16 to the accounts.
## PUBLIC BENEFIT
The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit.
## FINANCIAL REVIEW
Total funds have increased from £39,056,391 to £71,292,937 largely as a result of the restricted donations of £33,373,867 received into the Emergency & Recovery Fund. The financial statements for the year ended 30 September 2025 show net income for the year before foreign exchange gains and investment gains of £30,864,006 (2024: £1,972,230 net expenditure). The net movement in funds for the year amounted to an increase of £32,236,546 (2024: decrease of £865,809) after accounting for net investment and exchange gains of £1,372,540 (2024: £1,106,421). A transfer of £1,154,470 was made from Endowed funds to Restricted funds representing the allocation of total return in the year. During the year grants of £3,574,048 (2024: £2,803,576) were awarded of which £3,504,992 (2024: £2,748,536) were made to the Weizmann Institute.
## Reserves
At 30 September 2025 the Charity held unrestricted reserves of £6,897,536 (2024: £5,629,795). Included within unrestricted reserves is £69,959 (2024: £69,959) as a designated fund called Making Connections which promotes collaboration on projects undertaken between leading scientists at UK universities and scientists at the Weizmann Institute of Science.
The Trustees determined that the remaining unrestricted reserves be used as needed to fund the cost of the operations and to continue the Making Connections programme into the foreseeable future. The unrestricted reserves have also been used to fund fixed assets of £790,820 (2024: £791,572). The policy on the level of a desirable level of unrestricted reserves is reviewed periodically by the Trustees.
## Grants for Scientific Research
Weizmann UK makes grants to the Weizmann Institute based on the current needs of the Institute together with the availability of funds and the requests of donors.
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THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025
## Investment Policy
All investments held by Weizmann UK have been acquired in accordance with the powers available to the Board of Trustees and there are no specific restrictions on the investment powers available to the Board. The Board of Trustees has delegated investment monitoring responsibility to a sub-committee (the Investment Committee) whose members are: Denis Raeburn (Chair), Jonathan Kropman, Denitza Roussinova and Charles Wolfson Townsley.
Weizmann UK’s investments are allocated between a portfolio invested in Weizmann Global Endowment Management Trust (W-GEM) and a portfolio invested by Rothschild & Co. Wealth Management (UK) Limited.
Weizmann UK Trustee Martin Paisner CBE is a Trustee of W-GEM and Weizmann UK Trustee Denis Raeburn is a member of the W-GEM Oversight Board. Denis Raeburn was re-appointed as a member of the W-GEM Oversight Board for two years until 31 December 2026.
W-GEM’s stated performance objectives are several: to achieve a return which exceeds the Weizmann Institute’s spending rate and preserves the purchasing power of the assets; to outperform the MSCI All Country World Index during down markets; to produce, over time, lessvolatile returns than the MSCI All Country World Index; to perform well in comparison with two benchmarks: the Policy benchmark, weighted by asset class and over a market cycle, and peers.
The 12 months ending 30 September 2025 were a strong period for equity markets. The MSCI World Index generated positive returns in all four quarters, delivering a total return of +17.3% in USD terms over the financial year. Meanwhile, US Government Bonds also showed positive performance, with a return of +3.5% over the same 12-month period.
W-GEM, which has been allocated the bulk of Weizmann UK’s investment portfolio (approximately $33.2m or £24.7m) has been invested across a well-diversified range of asset classes and managers. Performance over the reporting period was slightly ahead of the mandate’s reference index. The W-GEM portfolio delivered a return of +12.4% for the year ended 30 September 2025, in USD, which is the reference currency of the portfolio. W-GEM’s policy benchmark is 80% MSCI All Country World Index, 10% U.S. Government Bond Index, and 10% European Government Bond Index. This benchmark returned +12.3% for the year.
It is not unexpected that W-GEM may underperform its policy benchmark over short time periods and therefore the slight underperformance over the last 12 months is not concerning in itself. In sterling terms, Weizmann UK’s investment in W-GEM saw a slight negative impact due to the modest depreciation of USD against sterling, shifting from 1.3375 to 1.3446 over the 12-month period.
The Board of Trustees has also resolved that the part of Weizmann UK’s non-endowed funds (approximately £7.4m) with both unrestricted and restricted purposes should continue to be invested in the UK by Rothschild & Co, on an unconstrained basis.
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THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Investment Committee established what it regards as a prudent investment strategy with Rothschild & Co, which has invested in a diversified range of asset classes and securities. The report produced by Rothschild & Co indicates that Weizmann UK’s portfolio which is invested in the New Court fund increased by +5.2% in Sterling terms for the year ended 30 September 2025. The return objective of the portfolio is UK CPI +3% which, over the same period, was up +6.8%. While the portfolio did not meet its stated investment objective over the reporting period, over the long term, the fund is intended to preserve and grow the real value of the invested capital, whilst providing some protection during difficult market conditions.
Weizmann UK has Charity Commission approval to use of total return investment powers in relation to its permanent endowment investments by an order granted on 30 March 2006, as varied by a further order made on 15 August 2006. The power permits the Trustees to invest the portfolio to maximise total return and to apply an appropriate portion of the unapplied total return to income each year. Until the power is exercised to transfer a portion of unapplied total return to income (as disclosed in the fund transfers, note 11), the unapplied total return remains invested as part of the permanent endowment. This year, £1,154,470 was applied to income.
The investment property is stated at open market value and is subject to a formal revaluation every five years. A desktop valuation carried out by an independent qualified surveyor in November 2022 valued the property at £770,000. A further valuation conducted by an independent surveyor in October 2025 revalued the property at £727,000, which has been reflected in the accounts.
## Currencies
The funds invested in W-GEM are denominated in US Dollars. The UK portfolio, managed by Rothschild & Co Wealth Management (UK) Limited, is denominated in UK Sterling. The Board of Trustees believes that this provides Weizmann UK with an appropriate balance of currencies.
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THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025
## Risk Policy
The Risk Committee is appointed by the Board of Trustees. The function is to carry out assessment and analysis of risks attached to the operations of the Charity. The Risk Committee comprises the Honorary Secretary (Chair) and the Honorary Treasurer, with the Chair of the Trustees (ex officio) and is also attended by the Director of Operations and the Executive Director. In the financial year to 30 September 2025, the Risk Committee periodically considered relevant risk issues pertaining to the organisation.
These included risks as a charity supporting a cause in Israel. It was recognised that political issues in and around Israel have long been monitored as a risk, but the Committee noted the changing (and potentially increasingly negative) views relating to Israel and the implications this could have on fundraising. As the focus of Weizmann UK’s fundraising and communications is on science which has a global impact, and not on political issues relating to Israel, Weizmann UK would hope to avoid any controversy and impact on fundraising income.
In the course of the year, the Risk Committee carried out assessments key risk areas, including:
- Risks related to investment
- Risks related to Israel connected charities
- Investment Management
- Budgetary control
- Gift acceptance (due-diligence procedures)
- Event fundraising
- Unrestricted funding
- Trustee succession
- GDPR (annual review of Privacy Policy, Cookies Policy, Data Retention Policy and an updated Legitimate Interest Assessment);
- Safeguarding (including staff wellbeing, home working and lone working)
- Security across all aspects of charitable activities including staff health and safety
The Risk Committee recommended various steps be taken to address, monitor and ensure these are kept current and appropriate as circumstances evolve. In particular, these areas of risk are monitored by the Executive Director and continue to be brought to the attention of the Board of Trustees as appropriate and at least annually.
The Board reviewed the Risk Matrix Analysis and on review considered that the major risks to which the Charity is exposed have been analysed and acted upon and it also considered the steps taken and systems proposed to mitigate continuing risk.
The Executive Director, Director of Operations, Chair and Chair of the Risk Committee continue to monitor risk on all levels including security.
## Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the Trustees are aware:
- there is no relevant audit information of which the charitable company’s auditor is unaware; and
- the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. The work carried out by the auditors does not involve consideration of these matters and, accordingly, the auditors accept no responsibility for any changes that may have occurred to the financial statements since they were initially presented on the website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
By order of the Board of Trustees on 1 May 2026
David Marks Hon. Treasurer
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THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee)
Independent Auditors’ Report to the members of the Weizmann Institute Foundation (Weizmann UK)
## Opinion
We have audited the financial statements of The Weizmann Institute Foundation for the year ended 30 September 2025 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Statement of Total Recognised Gains and Losses, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the charitable company’s affairs as at 30 September 2025 and of the charitable company’s net movement in funds, including the income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## Other information
The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
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THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee)
Independent Auditors’ Report to the members of the Weizmann Institute Foundation (Weizmann UK)
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees’ Annual Report (which includes the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors’ report included within the Trustees’ Annual Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the directors’ report).
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the charitable company; or
- the charitable company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemption from the requirement to prepare a strategic report.
Responsibilities of trustees for the financial statements
As explained more fully in the trustees’ responsibilities statement set out on page 12, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
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THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) Independent Auditors’ Report to the members of the Weizmann Institute Foundation (Weizmann UK)
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to health and safety requirements, GDPR, employment law, company and charity law and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011 and Companies Act 2006 and consider other factors such as payroll tax.
We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the improper recognition of revenue and management bias in accounting estimates. Audit procedures performed by the engagement team included:
- Inspecting correspondence with regulators and tax authorities;
- Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
- Evaluating management’s controls designed to prevent and detect irregularities;
- Identifying and testing journals, in particular journal entries posted at the year end; and
- Challenging assumptions and judgements made by management in their critical accounting estimates.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee)
Independent Auditors’ Report to the members of the Weizmann Institute Foundation (Weizmann UK)
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
Lee Stokes (Senior Statutory Auditor) For and on behalf of HaysMac LLP, Statutory Auditor 10 Queen Street Place London EC4R 1AG
## Date: 8 May 2026
**16**
## THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2025
|2025
INCOME FROM
Note
£
Donations & Legacies
Donations
1,258,490
Legacies
165,252
Income from Investments
2
121,298
Income from
charitable activities
Educational events
45,326
Other Income
334,637
TOTAL INCOME
1,925,003
EXPENDITURE ON
Raising Funds
3
Fundraising & event costs
582,237
Investment management costs
22,650
Charitable Activities
3
Education & awareness
176,946
Research
33,782
TOTAL EXPENDITURE
815,615
1,109,388
Property revaluation including FX
(43,000)
Foreign exchange (losses)
-
Net investment gains
176,353
133,353
1,242,741
Transfers between funds
11
25,000
1,267,741
5,629,795
6,897,536
All the above operations are continuing.
Details of comparative figures by fund are disclosed in note 17.
Unrestricted
funds
NET INCOME / (EXPENDITURE)
BEFORE NET GAINS & LOSSES ON
INVESTMENTS
FUND BALANCES CARRIED
FORWARD
Fund balances brought forward
NET MOVEMENT IN FUNDS
NET INCOME / (EXPENDITURE)
BEFORE TRANSFERS|2025
£
1,258,490
165,252
121,298
45,326
334,637
Unrestricted
funds|Restricted
funds
2025
£
33,373,867
21,854
-
6,210
-|2025
£
-
-
190,715
-
-
Endowment
funds|Total
funds
_Total_
_funds_
2025
_2024_
£
_£_
34,632,357
_1,355,793_
187,106
_129,245_
312,013
_244,447_
51,536
_12,499_
334,637
_76,847_
35,517,649
1,818,831
582,237
_541,127_
222,063
_193,901_
928,585
_708,705_
2,920,758
_2,347,328_
4,653,643
3,791,061
30,864,006
(1,972,230)
(1,517,864)
_(1,274,530)_
(94,766)
_(2,125,145)_
2,985,170
_4,506,096_
1,372,540
1,106,421
32,236,546
(865,809)
-
_-_
32,236,546
(865,809)
39,056,391
_39,922,200_
71,292,937
39,056,391
_0_|
|---|---|---|---|---|
||1,925,003|33,401,931|190,715||
||582,237
22,650
176,946
33,782|-
-
751,639
2,886,976|-
199,413
-
-||
||815,615|3,638,615|199,413||
||1,109,388|29,763,316|(8,698)||
||(43,000)
-
176,353|-
-
-|(1,474,864)
(94,766)
2,808,817||
||133,353|-|1,239,187||
||||||
||1,242,741|29,763,316|1,230,489||
||25,000|1,129,470|(1,154,470)||
||1,267,741|30,892,786|76,019||
||5,629,795|674,093|32,752,503||
||6,897,536|31,566,879|32,828,522||
||||||
The notes on pages 21 to 45 form part of these financial statements
**17**
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2025
|Income from continuing operations
(excluding endowments)
Expenditure of continuing operations
(excluding endowments)
Surplus/(deficit) of income over
expenditure before transfers
Transfers from endowment of total return
applied in the year
Surplus/(deficit) for the year on
unrestricted and restricted funds
before unrealised gains|£
35,326,934
(4,454,230)|2025
2024
£
_£_
_£_
_1,650,683_
_(3,617,689)_
30,872,704
_(1,967,006)_
1,154,470
_1,087,606_
32,027,174
_(879,400)_|
|---|---|---|
||||
||||
|STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Surplus/(deficit) for the year before
unrealised investment gains
Net investment gains including foreign
exchange gains
Total recognised gains and losses for
the year||
2025
_2024_
£
_£_
32,027,174
_(879,400)_
133,353
_521,112_
32,160,527
_(358,288)_|
Total income comprises £1,925,003 (2024: £511,721) for unrestricted funds, and £33,401,931 (2024: £1,138,962) for restricted funds. A detailed analysis of income by source is provided in the Statement of Financial Activities.
Detailed analyses of the expenditure are provided in the Statement of Financial Activities and note 3.
Surplus of income over expenditure on unrestricted and restricted funds for the year of £30,872,704 (2024: deficit £1,967,006) before investment asset disposals, comprises £1,109,388 net income (2024: net expenditure of £531,105) on unrestricted funds and £29,763,316 net income (2024: net expenditure of £1,435,901) on restricted funds, as shown in the Statement of Financial Activities.
The Income and Expenditure Account is derived from the Statement of Financial Activities on page 17, which, together with the notes to the financial statements on pages 21 to 45, provides information on the movements during the year on all funds of the company.
The notes on pages 21 to 45 form part of these financial statements
**18**
Company Number: 483123
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) BALANCE SHEET AS AT 30 SEPTEMBER 2025
|Note
FIXED ASSETS
Tangible Fixed Assets
5
Investments
6
CURRENT ASSETS
Property held for resale
7
Debtors:
Amount due from subsidiary undertaking
8
Other debtors
8
Cash at bank and in hand
9
Creditors:amounts falling due within one
year
10
NET CURRENT ASSETS
NET ASSETS
FUNDS
Restricted funds
11,13
Unrestricted funds:
12,13
General fund
Designated funds
Endowed funds
11,13
TOTAL FUNDS|2025
£
4,913,413
4,898
310,820|2025
_2024_
_2024_
£
_£_
_£_
790,820
_791,572_
32,758,664
_29,977,930_
33,549,484
_30,769,502_
_7,809,442_
_5,298_
_347,153_
_352,451_
_233,575_
_8,395,468_
_(108,579)_
37,743,453
_8,286,889_
71,292,937
_39,056,391_
31,566,879
_674,093_
6,649,325
_5,559,836_
248,211
_69,959_
6,897,536
_5,629,795_
32,828,522
_32,752,503_
71,292,937
_39,056,391_|
|---|---|---|
||315,718
33,212,651||
||38,441,782
(698,329)||
||||
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Of the total funds £11,084,170 (2024: £8,250,340) are represented by unrealised gains on investments.
The financial statements on pages 21 to 45 were approved by the board of Trustees on 1 May 2026 and signed on its behalf by:
Dr. Arabella Duffield Trustee (Chair)
David Marks Hon. Treasurer
The notes on pages 21 to 45 form part of these financial statements
**19**
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2025
|Note
£
Net income/(expenditure)
excluding endowments
30,872,704
Less investment income
(121,298)
Add depreciation
23,206
Net cash provided by/(used in) operating
activities
30,774,612
Decrease in property held for resale
1,421,165
Decrease in debtors
36,733
Increase/(Decrease) in creditors
589,750
Net
cash
provided
by/(used
in)
operating activities
Returns on investments
Investment income including endowments
312,013
Net cash provided by returns on
investments
Cash flow from investing activities
Purchase of tangible fixed assets
(22,454)
Purchase of investments
(3,006,746)
Sale of investments
3,073,416
Financing
Expenditure from endowments
(199,413)
Net cash (used in) financing
activities
CHANGE IN CASH AND CASH
EQUIVALENTS IN THE YEAR
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Net cash outflow from capital|£
30,872,704
(121,298)
23,206
30,774,612
1,421,165
36,733
589,750|2025
_2024_
£
_£_
_£_
_(1,967,006)_
_(76,299)_
_21,685_
_(2,021,620)_
_-_
_379,093_
_(161,950)_
32,822,260
_(1,804,477)_
_244,447_
312,013
_244,447_
_-_
_(3,154,885)_
_3,475,540_
44,216
_320,655_
_(173,372)_
(199,413)
_(173,372)_
32,979,076
_(1,412,747)_
233,575
_1,646,322_
33,212,651
_233,575_|
|---|---|---|
||312,013||
||(22,454)
(3,006,746)
3,073,416||
||(199,413)||
The notes on pages 21 to 45 form part of these financial statements
**20**
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
## **1.** Accounting policies
- (a) Basis of accounting
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (the Statement of Recommended Practice for Charities (SORP 2015) (Second Edition, effective 1 January 2019)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Weizmann UK meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity’s forecasts and projections and have taken account of pressures on donation and investment income. After making enquiries the trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
- (b) Investments
Investments in common stocks and fixed income securities are stated at fair value as at the balance sheet date. Fair value of exchange-listed securities is determined by the last sale price on the valuation date. Fixed income securities are valued based on prices obtained by one or more independent pricing services. Mutual funds are valued based on published net asset value.
The Weizmann Global Endowment Fund (“WGEF”) is a limited partnership based in the USA which invests in a diverse range of equities and bonds and is managed by Weizmann Global Endowment Management Trust (W-GEM). WGEF’s investments in nonregistered investment companies, which represent circa two thirds of its net assets, are carried at fair value as determined by the general partner and generally represent the Fund’s pro rata interest in the net assets of each nonregistered investment company. All valuations utilise financial information supplied by each investment company.
The statement of financial activities includes the net gains and losses arising on the revaluation and disposals throughout the year. Investments are stated at fair value. It is the Weizmann UK’s policy to keep valuations up to date such that when investments are sold there is no gain or loss arising. As a result the Statement of Financial Activities (“SOFA”) only includes those unrealised gains and losses arising from the revaluation of the investment portfolio throughout the year. Disclosure is made in note 6 of the difference between the historical cost and the sale proceeds of the investments sold during the year. Investment income is included on an accruals basis and is allocated across funds in proportion to the value of funds held.
**21**
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
## 1. Accounting policies (continued)
## (b) Investments (continued)
The Charity Commission permitted Weizmann UK to adopt the use of total return investment powers in relation to its permanent endowment investments by an order granted on 15 August 2006. The power permits the trustees to invest the portfolio to maximise total return and to apply an appropriate portion of the unapplied total return to income each year. In the current year 4.5% has been applied to income. A rate of 4.5% has been applied to new endowment investments made during the year. Until the power is exercised to transfer a portion of unapplied total return to income (as disclosed in the fund transfers, note 11) the unapplied total return remains invested as part of the Permanent Endowment.
Properties not used for charitable purposes are classified as investment properties and are included in investments at open market value. Investment properties are formally revalued every five years.
- (c) Tangible fixed assets
Tangible fixed assets are stated at historic purchase cost less accumulated depreciation. Tangible fixed assets with a value of £1,000 or more are capitalised.
Depreciation is provided to write off the cost, less estimated residual values, of all fixed assets, evenly over their expected useful lives. It is calculated at the following rates:
Furniture & fixtures - 4 years Office equipment - 3 years Website - 3 years Property - 50 years
## (d) Foreign currency translation
The market value of investments outside the United Kingdom and monetary assets denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the balance sheet date.
Revenue and expenses in foreign currencies are recorded in sterling based on monthly average exchange rates. All gains or losses arising on translation are included in the SOFA for the year.
- (e) Income recognition and cost allocation
The financial statements are prepared on the accruals basis, with the exception of certain income, which cannot be quantified until it is received. The policies applied are:
Donations and Legacy income is included in the SOFA when Weizmann UK is legally entitled to the income (probate has been granted, or a donation received) and the amount can be quantified with reasonable accuracy.
Pledged donations are accounted for as and when entitlement arises, the amount can be reliably quantified and the economic benefit to the charity is considered probable.
**22**
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
## 1. Accounting policies (continued)
- (e) Income recognition and cost allocation (continued)
Event income (including donations received at events) and expenditure is included in the SOFA in the period in which the event takes place. Income received in advance is deferred to future periods.
Cost of raising funds are those costs incurred in attracting donations and legacies. Investment Management fees and other overheads are allocated between restricted, unrestricted and endowed funds on appropriate bases such as investment values and staff time.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with an apportionment of overhead and support costs.
Overhead and support costs have been allocated first between Charitable Activity and governance. Overhead and support costs relating to Charitable Activities have been apportioned based on the number of individual grant awards made in recognition that the administrative costs of awarding, monitoring and assessing research grants, salary support and postgraduate scholarships are broadly equivalent.
The allocation of overhead and support costs is analysed in note 3. All Value Added Tax (VAT) costs are irrecoverable and included within the cost expenditure category to which they relate.
Weizmann UK makes grants to the Institute based on the current needs of the Institute together with the availability of funds and the requests of donors.
## (f) Funds
These financial statements include the income and expenditure of all endowment, restricted and unrestricted funds of Weizmann UK.
Unrestricted funds comprise those funds, which the Board of Trustees are free to use in accordance with the charitable objects of Weizmann UK. They are divided between Designated Funds which have been set aside by the Trustees at their discretion for specific purposes and General funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of Weizmann UK.
Restricted funds are funds, which have been given for particular purposes and projects (see note 11).
Endowment funds are funds which must be held permanently by Weizmann UK. The funds are invested and the movement in fund values are recognised in the SOFA as investment gains and losses. Income arising on endowed funds is treated as restricted and shown in the SOFA as such.
**23**
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
## 1. Accounting policies (continued)
## (g) Pensions
Employees of the charity are entitled to join a defined contribution “money purchase” scheme. The charity contribution is restricted to the contributions disclosed in note 4. There were no outstanding contributions at the year end.
- (h) Operating Leases
Operating lease rentals are charged to the SOFA on a straight line basis over the term of the lease.
- (i) Irrecoverable Tax
Irrecoverable VAT is charged as a cost to the SOFA or capitalised within fixed assets as appropriate.
- (j) Financial Instruments
Financial assets such as cash and debtors are measured at their present value of the amounts receivable, less an allowance for the expected level of doubtful receivables. Financial liabilities such as trade creditors, loans and finance leases are measured at the present value of the obligation. An equity instrument is any contract that evidences a residual interest in the assets of Weizmann UK after deducting all of its liabilities.
## (k) Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.
The most significant estimates and assumptions which affect the carrying amount of assets and liabilities in the accounts relate to:
Useful Economic Lives - The annual depreciation charge for property, plant and equipment is sensitive to change in the estimated useful economic lives and residual value of assets. These are reassessed annually and amended were necessary to reflect current circumstances.
Total return on investments – Weizmann UK adopt the use of total return investment powers in relation to its permanent endowment investments. During the current financial year the Trustees allocated 4.5% to income.
**24**
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
## 2. Investment income
|Income from shares listed in the UK
Interest on bonds and other fund interest in the UK
Income from shares listed outside the UK
Interest on bonds and other fund interest outside UK
Rental income|2025
_2024_
£
_£_
51,329
_42,707_
66,325
_7,709_
68,952
_85,006_
89,898
_66,785_
35,509
_42,240_
312,013
_244,447_|
|---|---|
## 3. Expenditure - Current Year
|Direct costs
Salary
Other staff costs
& consultants
Grant payments
Investment Property
Investment manager
Direct activity costs
Accountancy
Support costs
Governance
Salary
Audit
Other
Other Support
Salary
Other staff costs
Office overheads
Accountancy
Depreciation
Total 2025
Total 2024|Fundraising
Costs
Investment
Management
Research
Education &
Awareness
Total 2025
_Total 2024_
£
£
£
£
£
_£_
258,024
14,746
41,226
11,946
325,942
_314,013_
13,002
743
2,077
603
16,425
_25,758_
-
-
2,834,205
739,843
3,574,048
_2,803,576_
-
4,950
-
-
4,950
_3,877_
-
172,456
-
-
172,456
_151,618_
31,078
-
-
158,100
189,178
_90,716_
-
14,190
-
-
14,190
_16,652_|
|---|---|
||302,104
207,085
2,877,508
910,492
4,297,189
_3,406,210_
30,303
1,588
4,632
2,117
38,640
_33,004_
19,898
1,043
3,041
1,390
25,372
_18,962_
9,510
498
1,453
664
12,125
_4,796_
83,978
4,677
13,239
4,494
106,388
_109,722_
6,464
360
1,019
346
8,189
_13,224_
95,053
4,981
14,528
6,641
121,203
_156,383_
16,729
877
2,557
1,169
21,332
_27,075_
18,198
954
2,781
1,272
23,205
_21,685_|
||280,133
14,978
43,250
18,093
356,454
_384,851_|
||582,237
222,063
2,920,758
928,585
4,653,643
_3,791,061_|
||_541,127_
_193,901_
_2,347,328_
_708,705_
_3,791,061_|
Governance costs include £1,497 (2024: £1,454) relating to the purchase of Trustees’ indemnity insurance. Grant payments represent awards to the Weizmann Institute, Israel and universities and research institutions in the UK in accordance with Weizmann UK's charitable objects.
Auditors’ remuneration for 2024 totalled £19,110 (2024: £18,200) net of VAT. The auditors received £nil for fees in relation to corporation tax and VAT advice during the year (2024: £330).
**25**
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
## 3. Expenditure - Prior Year
||Fundraising|Investment||Education &||
|---|---|---|---|---|---|
||Costs|Management|Research|Awareness|Total 2024|
|Direct costs|£|£|£|£|£|
|Salary|232,208|10,321|28,147|43,337|314,013|
|Other staff costs||||||
|& consultants|19,048|847|2,309|3,554|25,758|
|Grant payments|-|-|2,281,969|521,607|2,803,576|
|Investment Property|-|3,877|-|-|3,877|
|Legal costs|-|-|-|-|-|
|Investment manager|-|151,618|-|-|151,618|
|Direct activity costs|8,694|-|-|82,022|90,716|
|Accountancy|-|16,652|-|-|16,652|
||259,950|183,315|2,312,425|650,520|3,406,210|
|Support costs||||||
|Governance||||||
|Salary|24,031|858|3,003|5,112|33,004|
|Audit|13,807|493|1,725|2,937|18,962|
|Other|3,492|125|436|743|4,796|
|Other Support||||||
|Salary|80,748|3,371|9,881|15,722|109,722|
|Other staff costs|9,732|406|1,191|1,895|13,224|
|Office overheads|113,864|4,065|14,231|24,223|156,383|
|Accountancy|19,714|704|2,463|4,194|27,075|
|Depreciation|15,789|564|1,973|3,359|21,685|
||281,177|10,586|34,903|58,185|384,851|
|Total 2024|541,127|193,901|2,347,328|708,705|3,791,061|
**26**
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
## 4. Staff
The aggregate payroll costs of these employees were:
|Wages and salaries
Social security costs
Other pension costs
Charity only
The monthly average number of employees during the year was:|2025
_2024_
£
_£_
378,858
_367,863_
37,338
_37,754_
54,774
_51,122_
470,970
_456,739_
2025
Number
_2024_
_Number_
6
_6_|
|---|---|
No remuneration was paid to members of the Board of Trustees (2024: nil), expenses of £nil (2024: £448) were reimbursed to Trustees during the current year.
The following number of employees received employee benefits (excluding employer pension costs) during the year between:
|the year between:|||
|---|---|---|
||2025|_2024_|
|£60,000-£69,999|1|_2_|
|£70,000-£79,999|1|_-_|
|£90,000-£99,999|1|_1_|
Weizmann UK operates a defined contribution pension scheme to which fixed contributions are made. The amount paid in the year was £65,627 (2024: £51,023), including amounts paid in relation to the higher paid employees of £54,735 (2024: £45,586).
The total employee benefits including pension contributions of the key management personnel were £140,036 (2024: £138,465).
**27**
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
5. Tangible Fixed Assets
|Website
£
Cost
1 October 2024
25,770
Additions
-
30 September 2025
25,770
1 October 2024
25,770
Charge for the year
-
30 September 2025
25,770
Net book value
30 September 2024
-
30 September 2025
-
Accumulated depreciation|Office
equipment
£
42,499
5,474
47,973
39,770
1,851
41,621
2,729
6,352|Furniture &
fixtures
£
37,375
16,980
54,355
37,375
34
37,409
-
16,946|Property
Total
£
£
1,066,052
1,171,696
-
22,454
1,066,052
1,194,150
277,209
380,124
21,321
23,206
298,530
403,330
788,843
791,572
767,522
790,820|
|---|---|---|---|
**28**
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
|**6.**
**Investments**
Fixed asset investments
Investment properties
**(a) Fixed asset investments:**
Market value at beginning of year
Acquisitions at cost
Investment disposal proceeds
Net movement in investment cash|**2025**
**£**
32,031,664
727,000
32,758,664
**2025**
**£**
29,207,930
3,006,746
(3,125,605)
52,189
29,141,260|2024
£
29,207,930
770,000|
|---|---|---|
|||29,977,930|
|||2024
£
27,147,633
3,154,885
(3,472,709)
(2,830)|
|||26,826,979|
|Net investment gains|2,985,170|4,506,096|
|Foreign exchange gain on overseas investment fund
Market value at 30 September
Historical cost at 30 September
Investments at market value comprise:
Listed investments: UK|(94,766)
32,031,664
20,947,494
7,312,551|(2,125,145)|
|||29,207,930|
|||20,957,590|
|||6,638,157|
|Cash held within investment portfolio|52,189|-|
|Overseas investment fund *|24,666,924|22,569,773|
|**(b)**
1 October
Movement in the year
30 September
**Fixed asset investments - movement in accumulated**
**unrealised gains based on historic cost**|32,031,664
**2025**
**£**
8,250,340
2,833,830
11,084,170|29,207,930|
|||2024
£
7,331,447
918,893|
|||8,250,340|
||||
* The Weizmann Global Endowment Fund L.P. (W-GEF) is a limited partnership based in the USA which invests in a diverse range of equities and bonds and is managed by Weizmann Global Endowment Management Trust (W-GEM).
**29**
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
## **6. Investments (continued)**
|**(c) Investment Properties**
Market value 1 October
Revaluation in period
Market value 30 September
**(d) Application of the Power of Total Return**
Opening value of permanent endowment
Less: Original value of the gift
Unapplied total return brought forward
Add
Investment return: dividends and interest
Investment return: gains and losses
Less
Investment management and administration costs
Unapplied total return before transfer to income
Less
Total return applied
Sub total: unapplied return as at 30 September
Add
Original value of the gift brought forward
New endowments in the year
Permanent endowment including unapplied total return as at
30 September, constituting the investment fund
The investment fund and application of
total return to permanent|**2025**
2024
**£**
£
770,000
770,000
(43,000)
-
727,000
770,000
**2025**
2024
**£**
£
32,752,503
33,260,024
(21,771,007)
(21,771,007)
10,981,496
11,489,017
190,715
168,148
1,239,187
585,309
(199,413)
(173,372)
12,211,985
12,069,102
(1,154,470)
(1,087,606)
11,057,515
10,981,496
21,771,007
21,771,007
32,828,522
32,752,503|
|---|---|
The Charity Commission permitted Weizmann UK to use of total return investment powers in relation to its permanent endowment investments by an order granted on 15 August 2006. The power permits the trustees to invest the portfolio to maximise total return and to apply an appropriate portion of the unapplied total return to income each year. Until the power is exercised to transfer a portion of unapplied total return to income (as disclosed in the fund transfers, note 11) the unapplied total return remains invested as part of the Permanent Endowment.
The original value of the permanent endowment at 1 October 2017 is the value of the individual funds as at 1 October 2003 together with any new gifts made in the period 1 October 2003 to 30 September 2025. It has been assumed that for the years to 30 September 2004 and 2009 the dividends and interest less costs has equated to the unapplied total return applied in the periods and as such the value of the unapplied return is equivalent to the net gains and losses in those periods.
**30**
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
|7.
Property held for resale
Property held for resale|2025
_2024_
£
_£_
4,913,413
7,809,442
4,913,413
_7,809,442_|
|---|---|
The right to the proceeds from certain estate interests in Israel were received pursuant to a legacy. The intention is that these assets be sold by the executors of the estate. The proceeds of sale will be paid to Weizmann UK and then held and invested to produce income supporting cancer and diabetes research at the Institute. One of the properties was sold during the accounting period ended 30 September 2025 and the proceeds will be invested. In the process of offering the other properties for sale, certain difficulties have recently come to light which casts some doubt on their realisable value. Because of this, an estimate of their true value is very difficult. Having taken advice in Israel, the Trustees have reduced the valuation of the properties that remain to £4,913,413.
There may be some tax liabilities associated with the sale of these remaining properties. Because no tax arose in Israel at the time of the benefactor’s death, the capital gain must be determined by reference to the original purchase cost incurred by the deceased or, in the case of one property, the family of the deceased, as the property has been held in their family for a very considerable period of time. In addition, Israel levies a betterment levy on any part of the ultimate gain which reflects the increase in value from a proposed change in use, such as development potential. The executors of the estate have advised us that an estimate of such liabilities is not possible at the present time as they will need to be negotiated with the Israeli Tax Authorities after a sale has occurred. Accordingly, we need to recognise that there may be a currently unquantifiable contingent liability for such tax, which would reduce the value of the bequest.
The value of these properties (without any reduction for potential tax liabilities) has been included in the accounts as an expendable endowment (see Note 11 Funds-Endowed Fund).
## 8. Debtors
|Trade debtors
Amounts owed by subsidiary undertakings
Prepayments
Accrued income
Other debtors|2025
_2024_
£
_£_
15,000
-
4,898
_5,298_
21,692
_25,807_
222,749
_321,346_
51,379
_-_
315,718
_352,451_|
|---|---|
**31**
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
|9.
Cash at bank and in hand
Balance with bankers comprise:
Current accounts
Cash in hand
10. Creditors – amounts falling due within one year
Trade creditors
Taxation & social security
Other creditors
Accruals and deferred income
Deferred income
Deferred income brought forward
Resources deferred in the year
Amounts released from previous years
Deferred income carried forward|2025
_2024_
£
_£_
33,211,733
_231,927_
918
_1,648_
33,212,651
_233,575_
2025
_2024_
£
_£_
15,118
_11,655_
14,764
_13,020_
20,617
_20,497_
647,830
_63,407_
698,329
_108,579_
11,368
_-_
11,398
_11,368_
(11,368)
_-_
11,398
_11,368_|
|---|---|
**32**
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
## 11. Endowment and Restricted Income Funds
The Weizmann Institute Foundation (Weizmann UK) holds the following permanently endowed funds, the income from which are to be applied for specific restricted purposes associated with the Weizmann Institute of Science (“The Institute”), and restricted funds where the entire balance is to be applied for the specific purposes stated:
## Permanent Endowment Funds
- Elaine Blond Career Development Chair at the Weizmann Institute
- Raymond Burton Prize for nominated Chairs at the Weizmann Institute
- Raymond Burton Fund for Plant Genome Research at the Weizmann Institute
- Sir Ernst Chain Research Programme supporting joint research programmes between Imperial College, London and the Weizmann Institute)
- The Curwen–Lowy Biological Studies Fund supporting research and postdoctoral fellowships at the Weizmann Institute
- Kitty Waas Dekker, Simon Waas and Rosette Dekker Scholarship supporting masters students at the Weizmann School of Science
- Jack & Simon Djanogly Professorial Chairs in Computer Science and Biochemistry at the Weizmann Institute
- Jack & Simon Djanogly Scholarship for masters students at the Weizmann School of Science
- Maxwell Ellis Professorial Chair in Biological Research for medical purposes at the Weizmann Institute
- The Rina Gudinksi Career Development Chair at the Weizmann Institute
- The Edith and Nathan Goldenberg Career Development Chair in Plant Science at the Weizmann Institute
- Philip Harris & Gerald Ronson Career Development Chair at the Weizmann Institute
- The Linda and Michael Jacobs Professorial Chair in Immune and Stem Cell Research at the Weizmann Institute
- The Harry & Kathleen Kweller Professorial Chair in Condensed Matter Physics at the Weizmann Institute
- The Cecil and Hilda Lewis Professorial Chair at the Weizmann Institute
- Rixi Marcus Scholarships in memory of Eugenia, Ignacy & Herbert Alfred Heller supporting doctoral students at the Weizmann School of Science
- Martin & Dianne Mendoza Scholarship supporting doctoral students at the Weizmann School of Science
- Reuff-Wormser Scholarship Fund to support postdoctoral students from the Weizmann Institute to complete their studies abroad
- J & I Ritblat Educational Trust Fund supporting British students take part in educational programmes at the Weizmann Institute
- Samuel Sebba Professorial Chair in Pure and Applied Physics at the Weizmann Institute
- Sir David Sieff PhD Scholarship in Brain Research supporting students at the Weizmann School of Science
- Lord (Marcus) Sieff Scholarship Funds; The Lord Sieff of Brimpton Memorial Fund; Marcus & Lily Sieff Postdoctoral Scholarship and the Sieff Postdoctoral Fellowship to support scientific co-operation between UK and the Institute
- The Norman Sosnow Postdoctoral Fellowship at the Weizmann Institute
- The Sabine and Jeremy Smouha Scholarship supporting master’s students at the Weizmann School of Science
- The Harry Weinrebe Professorial Chairs in Laser Physics, and Computer Science and Biology at the Weizmann Institute
- The Simon Weinstock Professorial Chair in Astrophysics at the Weizmann Institute.
- J Stanley & Rose Weyman Memorial Scholarship supporting masters students at the Weizmann School of Science
## Expendable Endowment Funds
- J Watt Wachtel Scholarship for chemistry, biology, or medicine
- Jacob Hillel Restricted Fund for Cancer and Diabetes Research at the Weizmann Institute
**33**
THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
## 11.Endowment and Restricted Income Funds (continued)
## Restricted Income Funds
- Bessie Lawrence ISSI Fund supporting British students participating in the International Summer Science Institute (ISSI) at the Davidson Institute of Science Education
- BINA Programme Fund supporting the development of translational research through education across the Weizmann Institute
- Clore Garden of Science Fund supporting the museum of the Davidson Institute of Science Education
- Davidson Fund for Displaced Children
- Davidson Institute for Science Education Fund providing STEM education
- Environmental Sustainability Fund supporting research at the Weizmann Institute
- Emergency and Recovery Fund supporting the rebuilding and reconstruction of laboratories destroyed by the missile attack on the campus of the Weizmann Institute
- Equipment Fund – supporting research at the Weizmann Institute through the purchase of research equipment
- Making Connections Fund supporting scientific collaborations between UK scientists and those at the Weizmann Institute
- Manchester PhD Scholarship Fund supporting a split-site PhD programme between the University of Manchester and the Weizmann Institute
- Neuroscience Research Fund at the Weizmann Institute
- President’s Discretionary Fund Specific Scientific Research Fund supporting research areas directed by donors
- The Dangoor Chair of Archaeological Sciences at the Weizmann Institute
- UBS UK Donor Advised Foundation - Scientific Research
- Women In Science funding awards for exceptional Israeli scientists undertaking postdoctoral studies abroad
**34**
## **THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025**
11 Funds – Endowed Fund
|Permanent Endowments
Elaine Blond Career Development Chair
Raymond Burton Prize
Raymond Burton Fund for Plant Genome Research
Sir Ernst Chain Research Programme
The Curwen – Lowy Biological Studies
Kitty
Waas
Dekker,
Simon
Waas
and
Rosette
Dekker
Scholarship
Jack & Simon Djanogly
Maxwell Ellis Professorial Chair in Biological Research|Original Gift
Value at
30.9.24
Unapplied
total return at
1.10.24
Fund Value at
30.09.24
Income
Investment
Gains
Expenditure
Total Return
Applied
Unapplied Total
Return
Original Gift
Value at
30.9.25
Fund Value at
30.09.25
£
£
£
£
£
£
£
£
£
£
253,080
295,518
548,598
4,200
59,777
(4,417)
(26,027)
329,051
253,080
582,131
215,690
251,857
467,547
3,580
50,945
(3,765)
(22,182)
280,435
215,690
496,125
815,358
952,085
1,767,443
13,533
192,585
(14,231)
(83,852)
1,060,120
815,358
1,875,478
175,932
205,423
381,355
2,920
41,553
(3,071)
(18,093)
228,732
175,932
404,664
448,223
548,491
996,714
7,632
108,604
(8,025)
(47,287)
609,415
448,223
1,057,638
78,365
91,514
169,879
1,301
18,510
(1,368)
(8,060)
101,897
78,365
180,262
52,181
60,923
113,104
866
12,324
(911)
(5,366)
67,836
52,181
120,017
698,951
816,161
1,515,112
11,601
165,090
(12,200)
(71,881)
908,771
698,951
1,607,722|
|---|---|
|The Runa Gudinksi Career Development Chair|598,552
229,791
828,343
6,342
90,258
(6,670)
(39,299)
280,422
598,552
878,974|
|The Edith and Nathan Goldenberg Career Development Chair
in Plant Science
Philip Harris & Gerald Ronson Career Development Chair
The Linda and Michael Jacobs Professorial Chair in Immune
and Stem Cell Research
The Harry & Kathleen Kweller Professorial Chair in Condensed
Matter Physics
The Cecil and Hilda Lewis Professorial Chair
Rixi Marcus Scholarship
Martin & Dianne Mendoza Scholarship
Reuff-Wormser Scholarship
J & I Ritblat Educational Trust
Samuel Sebba Professorial Chair in Pure and Applied Physics
Subtotal:|500,000
333,105
833,105
6,379
90,777
(6,708)
(39,525)
384,028
500,000
884,028
211,573
247,049
458,622
3,512
49,973
(3,693)
(21,758)
275,083
211,573
486,656
755,863
661,648
1,417,511
10,853
154,455
(11,414)
(67,251)
748,291
755,863
1,504,154
172,487
201,403
373,890
2,863
40,740
(3,011)
(17,738)
224,257
172,487
396,744
901,148
1,052,261
1,953,409
14,957
212,848
(15,729)
(92,675)
1,171,662
901,148
2,072,810
264,449
308,785
573,234
4,389
62,461
(4,616)
(27,196)
343,823
264,449
608,272
88,346
103,159
191,505
1,466
20,867
(1,542)
(9,086)
114,864
88,346
203,210
304,429
313,166
617,595
4,729
67,295
(4,973)
(29,300)
350,917
304,429
655,346
172,343
199,226
371,569
2,845
40,487
(2,992)
(17,628)
221,938
172,343
394,281
1,011,546
1,181,174
2,192,720
16,789
238,924
(17,656)
(104,029)
1,315,202
1,011,546
2,326,748|
||7,718,516
8,052,739
15,771,255
120,757
1,718,473
(126,992)
(748,233)
9,016,744
7,718,516
16,735,260|
**35**
## **THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025**
|11 Funds – Endowed Fund (continued)
Brought forward
Sir David Sieff PhD Scholarship in Brain Research
Lord (Marcus) Sieff Scholarship Funds
The Norman Sosnow Postdoctoral Fellowship
The Sabine and Jeremy Smouha Scholarship
The Harry Weinrebe Professorial Chair of Laser Physics
The Harry Weinrebe Professorial Chair of Computer Science
and Biology
The Simon Weinstock Professorial Chair in Astrophysics
J Stanley & Rose Weyman Memorial Scholarship
Expendable Endowments
J Watt
Jacob Hillel Restricted Fund for Cancer and Diabetes Research
Total Expendable Endowments|Original Gift
Value at
30.9.24
Unapplied
total return at
1.10.24
Fund Value at
30.09.24
Income
Investment
Gains
Expenditure
Total Return
Applied
Unapplied Total
Return
Original Gift
Value at
30.9.25
Fund Value at
30.09.25
£
£
£
£
£
£
£
£
£
£
7,718,516
8,052,739
15,771,255
120,757
1,718,473
(126,992)
(748,233)
9,016,744
7,718,516
16,735,260
112,686
131,572
244,258
1,870
26,615
(1,967)
(11,588)
146,502
112,686
259,188
518,003
541,604
1,059,607
8,113
115,457
(8,532)
(50,271)
606,371
518,003
1,124,374
288,453
336,828
625,281
4,788
68,132
(5,035)
(29,665)
375,048
288,453
663,501
77,000
64,632
141,632
1,084
15,433
(1,140)
(6,719)
73,290
77,000
150,290
1,434,125
1,454,315
2,888,440
22,116
314,730
(23,257)
(137,036)
1,630,868
1,434,125
3,064,993
150,029
168,132
318,161
2,436
34,667
(2,562)
(15,094)
187,579
150,029
337,608
839,665
980,461
1,820,126
13,936
198,325
(14,656)
(86,352)
1,091,714
839,665
1,931,379
86,747
101,308
188,055
1,440
20,491
(1,514)
(8,922)
112,803
86,747
199,550|
|---|---|
||11,225,224
11,831,591
23,056,815
176,540
2,512,323
(185,655)
(1,093,880)
13,240,919
11,225,224
24,466,143|
||409,971
388,016
797,987
6,110
86,951
(5,276)
(13,401)
462,400
409,971
872,371
10,135,812
(1,238,111)
8,897,701
8,065
(1,360,087)
(8,482)
(47,189)
(2,645,804)
10,135,812
7,490,008|
||10,545,783
(850,095)
9,695,688
14,175
(1,273,136)
(13,758)
(60,590)
(2,183,404)
10,545,783
8,362,379|
||21,771,007
10,981,496
32,752,503
190,715
1,239,187
(199,413)
(1,154,470)
11,057,515
21,771,007
32,828,522|
|||
**36**
## **THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025**
11. Funds (continued) – Restricted Income Funds
|||||||||||Transfers||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||(including||
|||||||Balance 1.10.24||Income|Expenditure|Endowments)|Balance 30.9.25|
|||||||£||£|£|£|£|
|Elaine Blond Career Development Chair||||||-||-|(26,027)|26,027|-|
|Raymond Burton Prize||||||-||-|(22,182)|22,182|-|
|Raymond Burton Fund for Plant Genome Research||||||-||-|(83,852)|83,852|-|
|Sir Ernst Chain Research Programme||||||-||-|(18,093)|18,093|-|
|The Curwen – Lowy Biological Studies||||||-||-|(47,287)|47,287|-|
|Kitty Waas
Dekker, Simon
Waas|and|Rosette||Dekker||||||||
|Scholarship||||||-||-|(8,060)|8,060|-|
|Jack & Simon Djanogly||||||-||-|(5,366)|5,366|-|
|Maxwell Ellis Professorial Chair in Biological Research||||||-||-|(71,881)|71,881|-|
|The Runa Gudinksi Career Development Chair||||||-||-|(39,299)|39,299|-|
|The Edith and Nathan Goldenberg Career Development Chair||||||||||||
|in Plant Science||||||-||-|(39,525)|39,525|-|
|Philip Harris & Gerald Ronson Career|Development|||Chair||-||-|(21,758)|21,758|-|
|The Linda and Michael Jacobs Professorial||Chair in Immune||||||||||
|and Stem Cell Research||||||-||-|(67,251)|67,251|-|
|J Watt||||||-||-|(13,401)|13,401|-|
|The
Harry
&
Kathleen
Kweller|Professorial|||Chair|in|||||||
|Condensed Matter Physics||||||-||-|(17,738)|17,738|-|
|Jacob Hillel
Restricted Fund
for|Cancer||and|Diabetes||||||||
|Research||||||-||-|(47,189)|47,189|-|
|The Cecil and Hilda Lewis Professorial Chair||||||-||-|(92,675)|92,675|-|
|Rixi Marcus Scholarship||||||-||-|(27,196)|27,196|-|
|Martin & Dianne Mendoza Scholarship||||||-||-|(9,086)|9,086|-|
|Reuff-Wormser Scholarship||||||-||-|(29,300)|29,300|-|
|J & I Ritblat Educational Trust||||||-||-|(17,628)|17,628|-|
|Samuel Sebba Professorial Chair in Pure and Applied Physics||||||-||-|(104,029)|104,029|-|
|Sir David Sieff PhD Scholarship in Brain Research||||||-||-|(11,588)|11,588|-|
|Lord (Marcus) Sieff Scholarship Funds||||||-||-|(50,271)|50,271|-|
|The Norman Sosnow Postdoctoral Fellowship||||||-||-|(29,665)|29,665|-|
|Subtotal:||||||-|~~**37**~~|-|(900,347)|900,347|-|
## **THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025**
|11.|Funds – Restricted Income Funds (continued)||||||
|---|---|---|---|---|---|---|
||||||Transfers||
||||||(including||
|||Balance 1.10.24|Income|Expenditure|Endowments)|Balance 30.9.25|
|||£|£|£|£|£|
||Brought forward|-|-|(900,347)|900,347|-|
||The Sabine and Jeremy Smouha Scholarship|-|-|(6,719)|6,719|-|
||The Harry Weinrebe Professorial Chair of Laser Physics|-|-|(137,036)|137,036|-|
||The Harry Weinrebe Professorial Chair of Computer Science||||||
||and Biology|-|-|(15,094)|15,094|-|
||The Simon Weinstock Professorial Chair in Astrophysics|-|-|(86,352)|86,352|-|
||J Stanley & Rose Weyman Memorial Scholarship|-|-|(8,922)|8,922|-|
||Bessie Lawrence ISSI|49,120|18,708|(5,388)|-|62,440|
||BINA Programme|1,215|38,656|(39,871)|-|-|
||Clore Garden of Science|-|74,400|-|-|74,400|
||Davidson Fund for Displaced Children|-|499,526|(499,526)|-|-|
||Environmental Sustainability|-|200,000|(200,000)|-|-|
||Emergency and Recovery|-|30,932,231|(212,611)|-|30,719,620|
||Making Connections|359,911|85,750|(69,057)|-|376,604|
||Manchester PhD Scholarship|25,000|-|-|(25,000)|-|
||Neuroscience Research|-|107,333|(87,333)|-|20,000|
||Specific Scientific Research|65,097|-|(65,097)|-|-|
||The Dangoor Chair of Archaelogical Sciences|138,750|158,912|(148,767)|-|148,895|
||UBS UK Donor Advised Foundation|35,000|1,132,145|(1,156,495)|-|10,650|
||Women In Science|-|154,270|-|-|154,270|
|||674,093|33,401,931|(3,638,615)|1,129,470|31,566,879|
||||||||
**38**
## **THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025**
11 Funds – Endowed Fund Prior Year
|Permanent Endowments
Elaine Blond Career Development Chair
Raymond Burton Prize
Raymond Burton Fund for Plant Genome Research
Sir Ernst Chain Research Programme
The Curwen – Lowy Biological Studies
Kitty
Waas
Dekker,
Simon
Waas
and
Rosette
Dekker
Scholarship
Jack & Simon Djanogly
Maxwell Ellis Professorial Chair in Biological Research
The Runa Gudinksi Career Development Chair
The Edith and Nathan Goldenberg Career Development Chair
in Plant Science
Philip Harris & Gerald Ronson Career Development Chair
The Linda and Michael Jacobs Professorial Chair in Immune
and Stem Cell Research
The Harry & Kathleen Kweller Professorial Chair in Condensed
Matter Physics
The Cecil and Hilda Lewis Professorial Chair
Rixi Marcus Scholarship
Martin & Dianne Mendoza Scholarship
Reuff-Wormser Scholarship
J & I Ritblat Educational Trust
Samuel Sebba Professorial Chair in Pure and Applied Physics
Subtotal:|Original Gift
Value at
1.10.23
Unapplied
total return at
1.10.23
Fund value at
1.10.23
Income
Investment
Gains
Expenditure
Total Return
Applied
Unapplied Total
Return
Original Gift
Value at
30.9.24
Fund Value at
30.09.24
£
£
£
£
£
£
£
£
£
£
253,080
279,510
532,590
3,710
41,031
(3,846)
(24,887)
295,518
253,080
548,598
215,690
238,213
453,903
3,162
34,969
(3,277)
(21,210)
251,857
215,690
467,547
815,358
900,510
1,715,868
11,951
132,192
(12,389)
(80,179)
952,085
815,358
1,767,443
175,932
194,294
370,226
2,579
28,523
(2,673)
(17,300)
205,423
175,932
381,355
448,223
519,406
967,629
6,740
74,547
(6,987)
(45,215)
548,491
448,223
996,714
78,365
86,556
164,921
1,149
12,706
(1,191)
(7,706)
91,514
78,365
169,879
52,181
57,623
109,804
765
8,459
(793)
(5,131)
60,923
52,181
113,104
698,951
771,950
1,470,901
10,245
113,319
(10,621)
(68,732)
816,161
698,951
1,515,112
598,552
205,620
804,172
5,601
61,954
(5,807)
(37,577)
229,791
598,552
828,343
500,000
308,795
808,795
5,633
62,310
(5,840)
(37,793)
333,105
500,000
833,105
211,573
233,666
445,239
3,101
34,302
(3,215)
(20,805)
247,049
211,573
458,622
755,863
620,284
1,376,147
9,585
106,019
(9,936)
(64,304)
661,648
755,863
1,417,511
172,487
190,493
362,980
2,528
27,964
(2,621)
(16,961)
201,403
172,487
373,890
901,148
995,259
1,896,407
13,209
146,101
(13,693)
(88,615)
1,052,261
901,148
1,953,409
264,449
292,057
556,506
3,876
42,874
(4,018)
(26,004)
308,785
264,449
573,234
88,346
97,570
185,916
1,295
14,323
(1,342)
(8,687)
103,159
88,346
191,505
304,429
295,144
599,573
4,176
46,192
(4,329)
(28,017)
313,166
304,429
617,595
172,343
188,383
360,726
2,513
27,791
(2,605)
(16,856)
199,226
172,343
371,569
1,011,546
1,117,189
2,128,735
14,827
163,999
(15,370)
(99,471)
1,181,174
1,011,546
2,192,720|
|---|---|
||7,718,516
7,592,522
15,311,038
106,645
1,179,575
(110,553)
(715,450)
8,052,739
7,718,516
15,771,255|
**39**
## **THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025**
11 Funds – Endowed Fund (continued)
|11 Funds – Endowed Fund (continued)||
|---|---|
|Brought forward
Sir David Sieff PhD Scholarship in Brain Research
Lord (Marcus) Sieff Scholarship Funds
The Norman Sosnow Postdoctoral Fellowship
The Sabine and Jeremy Smouha Scholarship
The Harry Weinrebe Professorial Chair of Laser Physics
The Harry Weinrebe Professorial Chair of Computer Science
and Biology
The Simon Weinstock Professorial Chair in Astrophysics
J Stanley & Rose Weyman Memorial Scholarship
Expendable Endowments
J Watt
Jacob Hillel Restricted Fund for Cancer and Diabetes Research
Total Expendable Endowments|Original Gift
Value at
1.10.23
Unapplied
total return at
1.10.23
Fund value at
1.10.23
Income
Investment
Gains
Expenditure
Total Return
Applied
Unapplied Total
Return
Original Gift
Value at
30.9.24
Fund Value at
30.09.24
£
£
£
£
£
£
£
£
£
£
7,718,516
7,592,522
15,311,038
106,645
1,179,575
(110,553)
(715,450)
8,052,739
7,718,516
15,771,255
112,686
124,443
237,129
1,652
18,269
(1,712)
(11,080)
131,572
112,686
244,258
518,003
510,684
1,028,687
7,165
79,251
(7,428)
(48,068)
541,604
518,003
1,059,607
288,453
318,582
607,035
4,228
46,766
(4,383)
(28,365)
336,828
288,453
625,281
77,000
60,499
137,499
958
10,593
(993)
(6,425)
64,632
77,000
141,632
1,434,125
1,370,030
2,804,155
19,531
216,034
(20,247)
(131,033)
1,454,315
1,434,125
2,888,440
150,029
158,848
308,877
2,151
23,796
(2,230)
(14,433)
168,132
150,029
318,161
839,665
927,348
1,767,013
12,308
136,132
(12,759)
(82,568)
980,461
839,665
1,820,126
86,747
95,820
182,567
1,272
14,065
(1,318)
(8,531)
101,308
86,747
188,055|
||11,225,224
11,158,776
22,384,000
155,910
1,724,481
(161,623)
(1,045,953)
11,831,591
11,225,224
23,056,815|
||409,971
330,241
740,212
5,156
57,027
(4,408)
-
388,016
409,971
797,987
10,135,812
-
10,135,812
7,082
(1,196,199)
(7,341)
(41,653)
(1,238,111)
10,135,812
8,897,701|
||10,545,783
330,241
10,876,024
12,238
(1,139,172)
(11,749)
(41,653)
(850,095)
10,545,783
9,695,688|
||21,771,007
11,489,017
33,260,024
168,148
585,309
(173,372)
(1,087,606)
10,981,496
21,771,007
32,752,503|
The Making Connections fund has been established to support high level scientific collaboration between the Weizmann Institute of Science in Israel and UK scientists.
**40**
## **THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025**
|11.|Funds (continued) – Restricted Income Funds|Funds (continued) – Restricted Income Funds|Funds (continued) – Restricted Income Funds||||||
|---|---|---|---|---|---|---|---|---|
||||||||Transfers||
||||||||(including||
|||||Balance 1.10.23|Income|Expenditure|Endowments)|Balance 30.9.24|
|||||£|£|£|£|£|
||Elaine Blond Career Development Chair|||-|-|(24,887)|24,887|-|
||Raymond Burton Prize|||-|-|(21,210)|21,210|-|
||Raymond Burton Fund for Plant Genome Research|||-|-|(80,179)|80,179|-|
||Sir Ernst Chain Research Programme|||-|-|(17,300)|17,300|-|
||The Curwen – Lowy Biological Studies|||-|-|(45,215)|45,215|-|
||Kitty Waas Dekker, Simon Waas and Rosette Dekker||||||||
||Scholarship|||-|-|(7,706)|7,706|-|
||Jack & Simon Djanogly|||-|-|(5,131)|5,131|-|
||Maxwell Ellis Professorial Chair in Biological Research|||-|-|(68,732)|68,732|-|
||The Runa Gudinksi Career Development Chair|||-|-|(37,577)|37,577|-|
||The Edith and Nathan Goldenberg Career Development Chair||||||||
||in Plant Science|||-|-|(37,793)|37,793|-|
||Philip Harris & Gerald Ronson Career Development|Chair||-|-|(20,805)|20,805|-|
||The Linda and Michael Jacobs Professorial Chair in|Immune|||||||
||and Stem Cell Research|||-|-|(64,304)|64,304|-|
||The
Harry
&
Kathleen
Kweller
Professorial|Chair|in||||||
||Condensed Matter Physics|||-|-|(16,961)|16,961|-|
||Jacob Hillel Restricted Fund for Cancer and Diabetes||||||||
||Research|||-|-|(41,653)|41,653|-|
||The Cecil and Hilda Lewis Professorial Chair|||-|-|(88,615)|88,615|-|
||Rixi Marcus Scholarship|||-|-|(26,004)|26,004|-|
||Martin & Dianne Mendoza Scholarship|||-|-|(8,687)|8,687|-|
||Reuff-Wormser Scholarship|||-|-|(28,017)|28,017|-|
||J & I Ritblat Educational Trust|||-|-|(16,856)|16,856|-|
||Samuel Sebba Professorial Chair in Pure and|Applied|||||||
||Physics|||-|-|(99,471)|99,471|-|
||Sir David Sieff PhD Scholarship in Brain Research|||-|-|(11,080)|11,080|-|
||Subtotal:|||-|-|(768,183)|768,183|-|
**41**
## **THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025**
|11.
Funds – Restricted Income Funds (continued)
Balance 1.10.23
Income
Expenditure
Transfers
(including
Endowments)
Balance 30.9.24
£
£
£
£
£
Brought forward
-
-
(768,183)
768,183
-
Lord (Marcus) Sieff Scholarship Funds
-
-
(48,068)
48,068
-
The Norman Sosnow Postdoctoral Fellowship
-
-
(28,365)
28,365
-
The Sabine and Jeremy Smouha Scholarship
-
-
(6,425)
6,425
-
The Harry Weinrebe Professorial Chair of Laser Physics
-
-
(131,033)
131,033
-
The Harry Weinrebe Professorial Chair of Computer Science
and Biology
-
-
(14,433)
14,433
-
The Simon Weinstock Professorial Chair in Astrophysics
-
-
(82,568)
82,568
-
J Stanley & Rose Weyman Memorial Scholarship
-
-
(8,531)
8,531
-
Bessie Lawrence ISSI
-
49,120
-
-
49,120
BINA Programme
-
1,215
-
-
1,215|11.
Funds – Restricted Income Funds (continued)
Balance 1.10.23
Income
Expenditure
Transfers
(including
Endowments)
Balance 30.9.24
£
£
£
£
£
Brought forward
-
-
(768,183)
768,183
-
Lord (Marcus) Sieff Scholarship Funds
-
-
(48,068)
48,068
-
The Norman Sosnow Postdoctoral Fellowship
-
-
(28,365)
28,365
-
The Sabine and Jeremy Smouha Scholarship
-
-
(6,425)
6,425
-
The Harry Weinrebe Professorial Chair of Laser Physics
-
-
(131,033)
131,033
-
The Harry Weinrebe Professorial Chair of Computer Science
and Biology
-
-
(14,433)
14,433
-
The Simon Weinstock Professorial Chair in Astrophysics
-
-
(82,568)
82,568
-
J Stanley & Rose Weyman Memorial Scholarship
-
-
(8,531)
8,531
-
Bessie Lawrence ISSI
-
49,120
-
-
49,120
BINA Programme
-
1,215
-
-
1,215|
|---|---|
|Davidson Fund for Displaced Children
Davidson Institute for Science Education
Environmental Sustainability
Equipment
Making Connections
Manchester PhD Scholarship
Neuroscience Research
President's Discretionary Fund
Specific Scientific Research
The Dangoor Chair of Archaelogical Sciences
UBS UK Donor Advised Foundation
Women In Science|-
395,441
(395,441)
-
-
-
28,341
(28,341)
-
-
-
200,000
(200,000)
-
-
491,727
-
(491,727)
-
-
286,148
128,803
(55,040)
-
359,911
25,000
-
-
-
25,000
-
10,000
(10,000)
-
-
-
84,053
(84,053)
-
-
500
65,597
(1,000)
-
65,097
154,463
141,392
(157,105)
-
138,750
63,800
35,000
(63,800)
-
35,000
750
-
(750)
-
-|
||1,022,388
1,138,962
(2,574,863)
1,087,606
674,093|
|||
**42**
**THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025**
## 12. Unrestricted income funds
|Designated Funds
Making Connections
Emergency Fund
General Fund
Total unrestricted funds
charity|Balance
30.9.24
£
69,959
-
5,559,836|Income
£
-
178,252
1,746,751|Expenditure
£
-
-
(815,615)|Net
investment
gain
£
-
-
133,353|Transfers /
Gift Aid
Balance
30.9.25
£
£
-
69,959
-
178,252
25,000
6,649,325
25,000
6,897,536|
|---|---|---|---|---|---|
||5,629,795|1,925,003|(815,615)|133,353||
|Prior Year
Designated Funds
Making Connections
General Fund
Total unrestricted funds
charity|Balance
30.9.23
£
69,959
5,569,829|Income
£
-
511,721|Expenditure
£
-
(1,042,826)|Net
investment
gain
£
-
521,112|Transfers /
Gift Aid
Balance
30.9.24
£
£
-
69,959
-
5,559,836
-
5,629,795|
|---|---|---|---|---|---|
||5,639,788|511,721|(1,042,826)|521,112||
## 13. Analysis of net assets between funds
|Tangible fixed assets
Investments
Net current assets
Total net assets
Tangible fixed assets
Investments
Net current assets
Total net assets
Analysis of net assets
between funds Prior
Year|£
790,820
4,843,555
1,014,950
6,649,325
£
791,572
5,034,869
(266,605)
5,559,836
General
Funds
General
Funds|£
-
-
248,211
248,211
£
-
-
69,959
69,959
Designated
Funds
Designated
Funds|£
-
-
31,566,879
31,566,879
£
-
-
674,093
674,093
Restricted
Income
Funds
Restricted
Income
Funds|£
£
-
790,820
27,915,109
32,758,664
4,913,413
37,743,453
32,828,522
71,292,937
£
£
-
791,572
24,943,061
29,977,930
7,809,442
8,286,889
32,752,503
39,056,391
Endowmen
t Funds
Total
Funds at
30.9.25
Total
Funds at
30.9.24
Endowmen
t Funds|
|---|---|---|---|---|
**43**
**THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025**
## 14. Taxation
The Weizmann Institute Foundation is registered under the Charities Act 2011 and is therefore not liable to Corporation Tax on its investment income and gains, applied or to be applied for charitable purposes.
## 15. Subsidiary company
The Weizmann Institute Foundation (Weizmann UK) owns 100% of the issued share capital of The Weizmann International Event Management Limited, a company incorporated in England. The issued share capital of 3 ordinary £1 shares is included at nil value. The principal activity of the Weizmann Trading Company Limited is to carry out trading activities associated with the activities of the Weizmann Institute Foundation (Weizmann UK). There is an open deed of covenant under which the profits of The Weizmann Trading Company Limited are donated to the Weizmann Institute Foundation (Weizmann UK).
The Weizmann International Event Management Limited was not trading in the financial year. For this reason, no useful purpose is served by producing consolidated accounts.
The Weizmann International Event Management Limited Summary Balance Sheet as at 30 September 2025:
|Cash at bank and in hand
Less: Creditors falling due within one year
Net assets
Share capital and reserves
Share capital
Profit and loss account
Total shareholders’ funds|2025
_2024_
£
_£_
2,528
3,016
2,528
3,016
(4,898)
(5,298)
(2,370)
(2,282)
3
3
(2,373)
(2,285)
(2,370)
(2,282)|
|---|---|
## 16. Related party transactions
Weizmann UK is owed £4,898 (2024: £5,298) on its current account by its wholly owned subsidiary, the Weizmann International Event Management Limited at the year-end.
During the year, eight members of the Board of Trustees (Dr. Arabella Duffield, Jonathan Kropman, David Marks, Martin Paisner CBE, Denis Raeburn, Michael Sandler and Barry Townsley CBE, and Charles Wolfson Townsley) are members of the International Board of the Weizmann Institute. Weizmann UK paid £3,504,992 to the Weizmann Institute during the year (2024: £2,748,536). There are amounts outstanding of £31,566,879 (2024: £674,093).
There have been no other related party transactions with the exception of the payment of legal charges amounting to £nil in relation to the charity (2024: £600) to Trowers & Hamlins LLP. Jonathan Kropman, a member of the Board of Trustees, was a partner in that firm. All transactions were arm's length. There are amounts outstanding of £nil (2024: £nil).
The total aggregate donations received from Trustees was £23,000 (2024: £151,064).
**44**
**THE WEIZMANN INSTITUTE FOUNDATION (Weizmann UK) (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025**
|INCOME FROM
Note
Donations & Legacies
Donations
Legacies
Income from Investments
2
Income from
charitable activities
Educational events
Other Income
TOTAL INCOME
EXPENDITURE ON
Raising Funds
3
Fundraising & event costs
Investment management costs
Charitable Activities
3
Education & awareness
Research
TOTAL EXPENDITURE
Foreign exchange (losses)
Property revaluation
Net investment gains
Transfers between funds
10
Fund balances brought forward
FUND BALANCES CARRIED
FORWARD
NET EXPENDITURE BEFORE NET
GAINS & LOSSES ON
INVESTMENTS
NET (EXPENDITURE) / INCOME
BEFORE TRANSFERS
NET MOVEMENT IN FUNDS
17. Prior Year Statement of
Financial Activities|2024
£
216,831
129,245
76,299
12,499
76,847
Unrestricted
funds|Restricted
funds
2024
£
1,138,962
-
-
-
-|Total
funds
2024
2024
£
£
-
_1,355,793_
-
_129,245_
168,148
_244,447_
-
_12,499_
-
_76,847_
168,148
1,818,831
-
_541,127_
173,372
_193,901_
-
_708,705_
-
_2,347,328_
173,372
3,791,061
(5,224)
(1,972,230)
(1,274,530)
_(1,274,530)_
(2,125,145)
_(2,125,145)_
3,984,984
_4,506,096_
585,309
1,106,421
580,085
(865,809)
(1,087,606)
_-_
(507,521)
(865,809)
33,260,024
_39,922,200_
32,752,503
39,056,391
Endowment
funds|
|---|---|---|---|
||511,721|1,138,962||
||541,127
20,529
170,260
310,910|-
-
538,445
2,036,418||
||1,042,826|2,574,863||
||(531,105)|(1,435,901)||
||-
-
521,112|-
-
-||
||521,112|-||
|||||
||(9,993)|(1,435,901)||
||-|1,087,606||
||(9,993)|(348,295)||
||5,639,788|1,022,388||
||5,629,795|674,093||
**45**