2022-04-05-accounts - The Archie Sherman Charitable Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Trustees	MJGee
	A H S Morgenthau
	R Freedman
	A Simon		(Appointed	10May 2021)
Charity number	256893
Principal address	274a Kentish	Town Road
	London
	NW5 2AA
Auditor	Citroen Wells
	Chartered Accountants
	Devonshire House
	1 Devonshire	Street
	London
	W1W 5DR
Bankers	Barclays Bank pic
	Cardiff Queen	St
	Leicester
	LE872BB
Solicitors	Nicholas and	Co
	10-12Bourlet	Close
	London
	W1W 7BR

			Page
Statement	oftrustees'	responsibilities
Trustees'	report		2-4
Independent auditor's		report	5-7
Statement	offinancial	activities
Statement	offinancial	position
Statement	ofcash flows		10
Notes to	the financial	statements	11-23

					2022	2021
				Notes
~ln &~mf~rm:
Investment income				3	1,076,422	1,161,202
Ex ni r	n:
Raising funds					353,892	237,192
Net incoming	resources				722,530	924,010
Charitable activities
Education and	training				39,031	15,209
Overseas aid					22,199	30,445
Arts and culture	and general		charitable causes		396,972	297,401
Health					88,189	108,481
Total charitable expenditure					546,391	451,536
Total expenditure					900,283	688,728
Net gains/(losses)		on investments			102,976	236,110
Net movement	in	funds			279,115	708,584
Fund balances	at 6April 2021				18,409,464	17,700,880
Fund balances at		5April 2022			18,688,579	18,409,464

			2022	2021
		Notes
Fixed assets
Investment properties		12	16,889,067	16,889,067
Investments		13	988,656	885,680
			17,877,723	17,774,747
Current assets
Trade and other receivables			114,383	143,932
Cash at bank	and in hand		1,443,514	1,467,882
			1,557,897	1,611,814
Current liabilities			(575,752)	(771,044)
Net current assets			982,145	840,770
Total assets	less current liabilities		18,859,868	18,615,517
Non-current	liabilities	17	(171,289)	(206,053)
Net assets			18,688,579	18,409,464
Income funds
Unrestricted funds			18,688,579	18,409,464
			18,688,579	18,409,464

						2021
			Notes	Z
Cash flows from operating		activities
Cash absorbed by operations			21		(1,092,538)		(1,045,278)
Investing	activities
Proceeds	on disposal of investment
property						346,448
Investment	income received			1,076,422		1,161,202
Net cash activities	generated from investing				1,076,422		1,507,650
Net cash	used in financing	activities
Net (decrease)/increase in equivalents		cash and cash			(16,116)		462,372
Cash and	cash equivalents	at beginning	of year		1,467,882		955,104
Effect offoreign exchange rates					(8,252)		50,406
Cash and	cash equivalents	at end ofyear			1,443,514		1,467,882

2022	2021
353,892	237,192
353,892	237,192

		Education	Overseas	Arts and	Health	Total	Total
		and training	aid	culture and		2022	2021
				general
				charitable
				causes
			f
Grant funding (see note 6)	ofactivities	29,077	17,625	315,175	66,006	427,883	393,551
Foreign exchange		2,408			5,052	7,460	(50,406)
Share of support costs (see note 7)		4,972	3,014	53,895	11,287	73,168	70,181
Share ofgovernance costs (see note 7)		2,574	1,560	27,902	5,844	37,880	38,210
		39,031	22,199	396,972	88,189	546,391	451,536
Analysis by	fund
Unrestricted	funds	39,031	22,199	396,972	88,189	546,391
		39,031	22,199	396,972	88,189	546,391
For the year Unrestricted	ended 5April 2021 funds 15,209		30,445	297,401	108,481		451,536
		15,209	30,445	297,401	108,481		451,536

		Education	Overseas	Arts and	Health	Total	2021
		and training	aid	culture and
				general
				charitable
				causes
Grants to institutions:
Yad Vashem UK
Foundation							1,846
The Diana and Allan
Morgenthau Charitable
Trust				55,500		55,500	60,000
The Jacqueline and
Michael Gee Charitable
Trust				60,000		60,000	60,000
The Rosalyn and
Nicholas Springer
Charitable Trust				60,000		60,000	60,000
Jewish Child's Day -	The
Netanya Foundation				9,000		9,000
Jewish Child's Day				31,375		31,375	2,500
Jewish Care					37,500	37,500	37,500
Royal Opera House
Covent Garden
Foundation				17,500		17,500
The Royal National
Theatre				20,000		20,000	25,000
Norwood Ravenswood							15,000
Nightingale Hammerson					15,000	15,000	20,000
Community Security
Trust				15,000		15,000	15,000
Youth Aliyah - Child
Rescue (Yemin Orde)		3,428				3,428	6,952
Glyndebourne
Productions Limited				2,100		2,100	2,100
The British Friends ofthe
Jaffa Institute				5,200		5,200
Shaare Zedek UK					2,381	2,381	4,649
The Royal Academy	of
Arts				17,000		17,000
UK Friends of I.D.C.		22,220				22,220	22,975
Carried forward		25,648		292,675	54,881	373,204	333,522

Grants payable							(Continued)
		Education	Overseas	Arts and	Health	Total	2021
		and training	aid	culture and
				general
				charitable
				causes
Brought forward		25,648		292,675	54,881	373,204	333,522
Tel Aviv University Trust		3,428				3,428	6,868
My Israel				2,500		2,500	2,500
Chai-Lifeline Cancer
Care					5,000	5,000
Save a Child's Heart					6,125	6,125	7,873
Magen David Adorn	UK				(1)	(1)	10,838
British Friends ofthe
Israel Guide Dog Centre for the Blind							2,000
The Central British Fund
for World Jewish Relief				20,000		20,000	10,000
The Jerusalem
Foundation			17,625			17,625	19,950
		29,076	17,625	315,175	66,005	427,881	393,551

Support	costs
		Support	Governance	2022	2021
		costs	costs
		f	f
Staff costs		41,238		41,238	39,763
Office service charges		11,135	3,711	14,846	13,818
Overseas	representatives	20,746		20,746	19,188
Other costs		93		93	21
Foreign exchange		(44)		(44)	845
Audit fees			7,000	7,000	4,524
Accountancy			25,310	25,310	27,000
Legal and	professional				1,500
Insurance			1,859	1,859	1,732
		73,168	37,880	111,048	108,391
Analysed	between
Charitable	activities	73,168	37,880	111,048	108,391

Number ofem	ployees
		2022	2021
		Number	Number
Administration
Employment	costs	2022	2021
Wages and salaries		40,825	39,521
Social security	costs	413	242
		41,238	39,763

Net gains/(	losses) on investmen	ts
			2022	2021
Revaluation	of investments		102,976	196,561
Gain/(loss)	on sale of investment	properties		39,549
			102,976	236,110
Investment	properties			2022
Fair value
At 6 April 2021 and 5April 2022				16,889,067

13	Fixed asset investments	Fixed asset investments	Fixed asset investments
							2022	2021
						Notes
	Investments in subsidiaries					19	203	203
	Listed investments						988,453	885,477
							988,656	885,680
	Listed investments	included		above:			2022	2021
	Listed investments	carrying		amount			988,453	885,477
	Movements in non-current			investments
						Listed	Investments	Total
						Investments	in
							subsidiaries
	Cost or valuation
	At 6April 2021					885,477	203	885,680
	Valuation changes					102,976		102,976
	At 5April 2022					988,453	203	988,656
	Carrying amount
	At 5April 2022					988,453	203	988,656
	At 5April 2021					885,477	203	885,680
14	Financial instruments						2022	2021
	Carrying amount	of	financial assets
	Instruments measured		at fair value through		profit or loss		988,453	885,477

15	Trade and other receivables	Trade and other receivables
			2022	2021
	Amounts falling due within one year:
	Amount due from subsidiary		1,159	1,059
	Other receivables		113,224	129,165
			114,383	130,224
	Amounts falling due after one year:
	Other receivables			13,708
	Total debtors		114,383	143,932
16	Current liabilities
			2022	2021
	Other taxation and social security		7,304	4,362
	Grants payable Other payabies Accruais and deferred	income	127,717 151,177 289,554	307,455 109,824 349,403
			575,752	771,044
17	Non-current liabilities
			2022	2021
	Grants payable		171,289	206,053

						Charitable
						commitments
						accrued
Grant commitments		recognised		at the start	ofthe year	513,508
Commitments made		in the year				427,883
Grants paid during	the year					(649,845)
Foreign exchange	difference		on	commitments		7,460
Amount ofgrant commitments			recognised		at 5 April 2022	299,006
Grant commitments		at 5April	2022 recognised as:
Due within one year:						127,717
Due over one year:						171,289
						299,006

Name ofundertaking	Registered	Registered	Class of	% Held
	office		shares held	Direct Indirect
Archie Sherman Trust	England	&Wales Dormant	Ordinary	100.00
Nominees Limited
(Company Number
00915582)
ASCT Developments	LimitedEngland	8 Wales Dormant	Ordinary	100.00
(Company Number
03741751)
Thamawell Limited	England	8 Wales Dormant	Ordinary	50.00
(Company Number
00851792)

The aggregate capital was as follows:	and res	erves and the res	ult for the yea
Name of undertaking		Profit/(Loss)	Capital and
			Reserves
		f	f.
Archie Sherman Trust
Nominees Limited
(Company Number
00915582)			100
ASCT Developments	Limited
(Company Number
03741751)		(84)	(472)
Themawell Limited
(Company Number
00851792)		(85)	(271)

	charges off14,846 (2021:213,818) to Gee.	Archie Sherm	Archie Sherm	an Administration Lim	an Administration Lim	an Administration Lim	ited, a	company controll	ed by M J
	At the year end, the charity's subsidiary	undertaking,		ASCT Developments			Limited	("the company"),	owed the
	charity f1,053 (2021:P1,053). The company		was dormant			during the year.
21	Cash generated from operations							2022	2021
	Surplus for the year							279,115	708,584
	Adjustments for:
	Investment income recognised in statement		offinancial		activities			(1,076,422)	(1,161,202)
	Foreign exchange differences Gain on disposal ofinvestment property Fair value gains and losses on investments							8,252 (102,976)	(50,406) (39,549) (196,561)
	Movements in working capital:
	Decrease in trade and other receivables							29,549	44,516
	(Decrease) in trade and other payables							(230,056)	(350,660)
	Cash absorbed by operations							(1,092,538)	(1,045,278)