| Page | |
|---|---|
| Trustees and professional advisers | 1 |
| Trustees'report | 2-4 |
| Independent examiner's report | 5 |
| Statement offinancial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8-12 |
| Charity number | 248663 |
|---|---|
| Trustees | W D Rothenberg |
| J D Rothenberg | |
| R M Rothenberg MBE | |
| J K Knox | |
| S D Percival | |
| Principal address | 16 Great Queen Street |
| Covent Garden | |
| London | |
| WC2B 5AH | |
| Accountants | Blick Rothenberg Limited |
| Chartered Accountants | |
| 16 Great Queen Street | |
| Covent Garden | |
| London | |
| WC2B 5AH | |
| Independent examiner | Nick Banks FCCAACA |
| Scrutton Bland LLP | |
| CharteredAccountants | |
| Fitzroy House | |
| Crown Street | |
| Ipswich | |
| Suffolk | |
| IP1 3LG | |
| Solicitors | Portrait Solicitors |
| 21 Whitefriars Street | |
| London | |
| EC4Y 8JJ | |
| Investment advisors | Rathbone Investment Management Limited |
| 8 Finsbury Circus | |
| London | |
| EC2M 7AZ |
| **Unrestricted ** | fund | ||
|---|---|---|---|
| 2021 | 2020 | ||
| Notes | £ | £ | |
| Income from: | |||
| Investment income | 2 | 34,629.28 | 44,834.55 |
| Total | 34,629.28 | 44,834.55 | |
| Expenditure | |||
| Investment management fees | (12,745.05) | (12,350.60) | |
| Charitable activities | 3 | (42,486.00) | (47,694.00) |
| Total | (55,231.05) | (60,044.60) | |
| Net expenditure | (20,601.77) | (15,210.05) | |
| Gains/(losses) on revaluation of investments | 252,165.23 | (26,676.47) | |
| Net movement in funds | 231,563.46 | (41,886.52) | |
| Reconciliation of funds | |||
| Fund balances brought forward | 1,769,106.80 | 1,810,993.32 | |
| Fund balances carried forward | 2,000,670.26 | 1,769,106.80 |
| UK | Overseas | Total | Total | ||
|---|---|---|---|---|---|
| 2021 | 2021 | 2021 | 2020 | ||
| £ | £ | £ | £ | ||
| Income | from stocks and securities | 33,026.91 | 1,602.37 | 34,629.28 | 44,750.63 |
| Interest | receivable | - | - | - | 83.92 |
| 33,026.91 | 1,602.37 | 34,629.28 | 44,834.55 | ||
| Income | from stocks and securities - 2020 | 42,248.48 | 2,586.07 | 44,834.55 |
| Total | Total | ||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Grants | (3.1) | 36,414.00 | 39,615.00 |
| Governance costs | (3.2) | 6,072.00 | 8,079.00 |
| 42,486.00 | 47,694.00 | ||
| 3.1 Grants payable | Total | Total | |
| 2021 | 2020 | ||
| £ | £ | ||
| Grants during the year comprise: | |||
| Garsington Opera Limited (2020: 2 payments) | 9,500.00 | 12,500.00 | |
| Glyndebourne Productions Limited (3 payments (2020: 2 payments)) | 12,920.00 | 14,500.00 | |
| Hampstead Theatre Limited | 6,994.00 | 6,615.00 | |
| London Symphony Orchestra | 3,000.00 | - | |
| Proms at St Judes (2020: 2 payments) | 4,000.00 | 6,000.00 | |
| 36,414.00 | 39,615.00 |
| Governance | Charitable | Total | Total | |
|---|---|---|---|---|
| costs | activities | |||
| Cost type | ||||
| 2021 | 2021 | 2021 | 2020 | |
| £ | £ | £ | £ | |
| Accountancy fees | 4,800.00 | - | 4,800.00 | 4,800.00 |
| Underprovision of accountancy fees in | ||||
| prior year | 900.00 | - | 900.00 | 3,000.00 |
| Independent Examination fees | 372.00 | - | 372.00 | 372.00 |
| Overprovision of Independent | ||||
| Examination fees | (93.00; | |||
| 6,072.00 | - | 6,072.00 | 8,079.00 |
| Fixed asset investments | ||||
|---|---|---|---|---|
| Listed | ||||
| investments | Cash | Total | Total | |
| 2021 | 2021 | 2021 | 2020 | |
| £ | £ | £ | £ | |
| Market Valueat 8 June 2020 | 1,646,221.00 | 50,715.32 | 1,696,936.32 | 1,736,002.64 |
| Additions | 581,289.46 | - | 581,289.46 | 344,182.48 |
| Disposals | (618,797.69) | - | (618,797.69) | (380,029.81) |
| Cash movements | • | 24.763.18 | 24,763.18 | 23,457.48 |
| (Loss)/gain on investments | 252,165.23 | - | 252,165.23 | (26,676.47) |
| Market Value at 7 June 2021 | 1,860,878.00 | 75,478.50 | 1,936,356.50 | 1,696,936.32 |
| Historical cost of investments at 7 June 2021 | 1,533,859.00 | 1,517,646.00 |
| UK | Overseas | Total | Total | |
|---|---|---|---|---|
| 2021 | 2021 | 2021 | 2020 | |
| Investments held are analysed as follows: | £ | £ | £ | £ |
| Equities | 577,795.00 | 103,519.00 | 681,314.00 | 503,976.00 |
| Fixed interest | 154,491.00 | - | 154,491.00 | 194,324.00 |
| Unit trusts | 195,666.00 | 113,685.00 | 309,351.00 | 562,429.00 |
| Investment trusts | 324,997.00 | - | 324,997.00 | 95,916.00 |
| Property funds | 76,864.00 | - | 76,864.00 | 104,883.00 |
| Infrastructure funds | 107,665.00 | - | 107,665.00 | 71,676.00 |
| Private equity | 45,886.00 | - | 45,886.00 | 13,890.00 |
| Alternative investments | 112,484.00 | - | 112,484.00 | 59,917.00 |
| Exchange traded funds | - | 47,826.00 | 47,826.00 | 39,210.00 |
| Cash deposit | 75,478.50 | - | 75,478.50 | 50,715.32 |
| 1,671,326.50 | 265,030.00 | 1,936,356.50 | 1,696,936.32 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| £ | £ | ||||||
| Accrued income receivable | 17.46 | 15.71 | |||||
| 8 | Creditors: amounts falling due within one year | ||||||
| 2021 | 2020 | ||||||
| £ | £ | ||||||
| Blick Rothenberg Limited | 4,800.00 | 4,800.00 | |||||
| Scrutton Bland LLP | 372.00 | 372.00 | |||||
| 5,172.00 | 5,172.00 | ||||||
| 9 | Movement in funds | Opening | Incoming | **Resources ** | Net gains/ | Closing | |
| funds | resources | **expended ** | (losses) on | funds | |||
| investments | |||||||
| 2021 | 2021 | 2021 | 2021 | 2021 | |||
| £ | £ | £ | £ | £ | |||
| Unrestricted funds | 1,769,106.80 | 34,629.28 | (55,231.05) | **252,165.23 ** | 2,000,670.26 | ||
| 2020 | 2020 | 2020 | 2020 | 2020 | |||
| £ | £ | £ | £ | £ | |||
| Unrestricted funds - 2019 | 1,810,993.32 | 44,834.55 | (60,044.60) | (26,676.47) | 1,769,106.80 |
| Analysis of net assets between funds | ||
|---|---|---|
| Total | Total | |
| 2021 | 2020 | |
| £ | £ | |
| Fund balances at 7 June 2021 are represented by: | ||
| Investments | 1,936,356.50 | 1,696,936.32 |
| Current assets | 69,485.76 | 77,342.48 |
| Current liabilities | (5,172.00) | (5,172.00) |
| 2,000,670.26 | 1,769,106.80 |