The Sir John Rithlat Family Foimdation TnteeS Report and Financial Statements For the Year Ended 5 April 2025 Charity registration number. 262463
The Sir Jol)n tbIat Family Foundation INDEX TO FINANCIAL STATEMENTS Year ended 5 A Til 2025 Page Legal attd admtnistrotive xttfoTtnotion "Irustees. report Trustees, rewtDStbilities in relation to the financial stat¢m¢nt$ Independent Auditors. rep¢xt Statement of fin4ncia] a¢tivitic8 io Balance sh¢et Statement of Cash Flows 12 Notes to the fela] stalements 13-19
The Sir Jolm RitbIat Family Foundation LEGAL AND ADMtNISTRATtVE tNFORMATtON Year ended 5 A ril 2025 OBJEcrs The formal objects detailed in the Trst Deed dated 31 March 1971 am¢Tyded by supplemental deed dated 18 JuDe 2007 and are deÈerib¢d on page 2. The trwt fornicrly known ao Th¢ Sir Joljn Ritblat Chariiable Thist No l. TRUSTEES Sir John Ritblat Mr N. S. J. Ritbla¢ Mr J. W. J. Ritblat Mr M. G. Cohen AWAKUb LUMMITfEE Sir John Ritblat Lady Jilltan Ritblat Ms S. C. Iutblat Mr N. S. J. Ritblat Mr J. W. J. tb1&t Mr M. G. Cohen PRcIPAL OP"TrILb 4th Floor 2 Fii£toy Place 8 Mortimer Street IA)ndon WIT3JJ tNDEPENDENf AUDITORS Berg Kaprow Lewis IIP 35 Bdllatd IA)ndon N3 IXW HSBC Private Bank 8 Cork Street tA>ndon WIS 3LJ 262463 Page I
I'he Sir John Ritblat Family Foundation TRUSTEES, REPORT Year ended 5 A ril 2025 The TrustC¢S Present tbeir r¢port alongwith the fanCIal statements of the chlty for they¢ar ¢nded 5 April 2025. Thc fin4nGial ststeJncnts IvAV¢ beejj pi¢putryl in dance with th¢ accountlng pollcl¢s sel oui oll pages 13 to 19 and comply witb the ¢harity's trust d¢¢d ond applicable law. STRUCTU AND GOVERNANCE The Sir John tbIat Tr'amily Troundatioll was constituted under a trust de¢d dated 31 March 1971, amended by supplemental deed datd 18 June 2007 and is a r¢stered charity, number 262463. The Trust was establisb¢d exclusively for eharitable purposes by Sir Jolm Ritblat. The 5tathtory power of appointing new or additional Trustees shall be vested in Sirjohn Ritblat during his life and the total numb¢r of TteeS sball not exceed four. All Tnjstees served for the puiod from 6 April 2024 to the date of this report. Un 17 D¢cember 2019 2n Aw8rds Committee w&9 establisbed comprising of the Trustees and two additional persons being lady Jillian Rithlxt And Ms g. c. Ritblat. The purpose of tb¢ committee ig to recommend to the Trnstees deserving ¢auses to be supported by the Foundation. The Trnst¢¢s undertake training 85 required to ensure that they Are aware of their responsibilitiu. OBJEcrs Ihe actiwttes undertaken by The Sir John Ritblat Family Foundation are ftrn)Iy Tooted in advan¢ing the public benefit. as outlinedby the Charity rmMissIOn,$ 8uidaDtt. The Charity is establjshgd to create a futtd for thebenefit or furtberan¢c of charitable purpose5, institutions, or foundations. with grants all¢xated at the ¢JibbTEtion of th¢ TreeS in a¢eordan(% with these objectives. "Ih¢8e ettorts eDSUTe inclusivity and a¢¢essibility, benefitin£ a wide ranAe of individuals and COrnTnunities. Ixwing the year, grants were made to wpport these aims and were recogni5ed in the financia] Statements once approved and where relevant th¢ recipients were notified. The Trustee5 r¢gularly review the eharity's operations to confinn alignmellt with its charitsble purp05¢s and ensure that adivities continue to d¢liver meaningful public benefit, as required under the Charities Act 2011. ¥vtliT]g objectiv¢s and plannlng for auivitie4 the Trnstees have Ven due consideratt.on to g¢neral uidance published by the Charity Commission relating to public benefit, Inr.liidinB the lIdanCe Public ben¢fit.' Tunning a charity IPB2)'. REVIEW OF ACTIVITIES AND ACHtEVEMENrs The 3tt2¢hed filwkcial ateMentS show th¢ current stste of the f]nances wbieb the Tru*e¢s ¢onsider to be The ¢harity incurred charitable expendittre of £176,659 (2024.. £125,862) and a total of 19 grants (2024.. 28) totalling £134,175 (2024.. £120,858) were paid dIng the year to institutions and none (2024.. none) to ittdividualo. After gain&qosses on investments the trust had net income of £202.879 (2024 Det income £575,566). The reserves balance brought forward at 6 April 2024 waÈ £6.089,358 givitt8 tt re5erYe3 balonw at 5 April 2025 of £6.292,237. Pa8¢ 2
The Sir Jol]n Ritblat Family Foundation TrUSTEES' REPORT Year ended 5 A ri12025 During the year ended 5 April 2026, th¢ Tntstees intend to meet tb¢ obj¢¢ts of the trust by making fijrth doll105 for the benetlt of thariiable insrituiions. RISK MANAGEMENr The Trustees regularly r¢vtew the major risks which the charity might face and und¢rtake any steps that rnigbt be needed to mitigate these risks. GRANT MAKtNfT pnT.TrY Ilir Trus1¥¥¥ L4)lltinucd to suppon a wide range of charitsbl¢ projea5 as permitted by the Trust's objects. PUBLIC BENEFIT The Trustees have con$i¢lered the Charity Commis5i¢)D'S guidance on pllblT¢ benefit when planning the activiti¢5 of the charity. Th¢ Trustces believe that they comply with tbe Chartty Commi&8ion guidanrx in ecordance with Chaxities Act 2011. RESERVES POLICY The chlty has llo endowtncnt funds 50 all its reserves are w]restricted and the balance at year end wa5 £6,292.237 (2024- £6,089,358). This proviiks sufficient fundsto cover management and administrati¢)n costs and a]lows th¢ Tnjstees scope for c2nying nijt the. hJ.tS of the e.IMity. The charity does not widertake any activiti¢s that involve ongoing capital ¢ommitments beyond the funds it curr¢ntly holds. As such the Trust¢¢s ensure that fun(ts are managed prudently gnd are allocated only in accordatsee with the charity's objectives and in rwonse to tdelltified charitable needs. This approach allows the charity to runain flexible and resp(TrDsive while mailltairtiELg finallcial stability. The Trustees regularly review th¢ financial position of the charity to confirn) that it holds sufficient resou¥ces to meet its commitmeDts as they aTi%. DISCLOSURE OF fNFORMATION TO AUDITORS Each of the persons who are Trustees at the timewhen thi8 TnL8Èeeq' Rep()rt i* ApproveAJ has Cfirn7ed that: 50 far as that TtE is awar¢, there is no relevant audit inforniation of which the d)arity's audttors ar¢ UDaware, and that Ttee bas taken all th¢ steps that ought to have b¢¢n taken as a Ttijstee in order to b¢ aware of any releyallt audit information and to establisb that thc Charl5 auditors are aware of that inforniatson. Pa8e 3
The Sir John Ritblat Family Foundation IRUSTEES. REPORT Year ended 5 A ril 2025 GOtNG CONCERN After mo&in% appropriateenquiries. the Trustee5 have tr¢asonable peCtati¢)ll thatthe Charity h&$ adequate resouices to cotttillue in operational existenee for the foreseeable futtwe. For ibis re*on, i&ey continue to sdopt th¢ soit)8 C<>ntcrn in pr¢parin8 tbc fittanGial statGin¢uts. Further details tegardittg th¢ adoption of the going eoncern bui5 can be found in tbe accouttting p)licies. Approved by ih¢ Trustees on and signed on tbeir behalf by.. M G Cohen Trustee Page 4
The Sir Jol]n Ritblat Family Foundation TRUSTEES. RESPONSIBILITIES IN RELATION TO THE FINANCIAL sTATENTs For the ear cnded 5 A ri12025 Thr Tru51EE5 are re5ponsibl¢ for preparing the Trustees, Reporr and the financial sraternenis in accordanc¢ with applicable law and United KInd0M AccountinR Standards (United KiTJgdom GeneraIly Accepted Accounting Pra¢tt¢e). The law applicable lo ¢I[tieS in England & Wales r¢quiro5theTrustees to prepare finallcial stst¢m¢nts f eacb fitwicial yw which give a ttue alld fair vi¢w of the 5¢ate of affairs of the Charity alld of its incoming resources and application of resources, illcluding its in¢om¢ and expenditure, for that pcriod. In preparing these financial statements the Trustees are requir¢d to: sele¢t suitable 0ting politi¢& and thcn apply thun wr¢sIsttIy> observe the methods and principles of the Charities SORP (FRS 102). make judgements and accounting e8timat¢s th* are reasonable and prlldent,. state wh¢th¢r appli¢Ablt UK Accounting Standards IrBs 102) have bcen follovia. SUbjt lo material deportur¢s disclosed and explained in the financial statements. prepare the finan¢ial statcments on the going colle¢rn basis wiless it is inappropriate to presum¢ that the Charity v4ill continue in busjness. The Trustees are responsiblc for keeping adequate accounting records that are sufficient to show and explain the Cbarity's transactions and disclose with reasonable accuracy at any time the financial positioll of the ajarity and enable them lo en5ur¢ that the financial statements comply with the awities Act 201 I, the Charity (Accounts and Reports) Regulations 2008 and tbe provision$ of thc Tru51 deed. Ihey are also r¢wonsible forsafeuard1nR the&ssets ofthe awity and hence fortaking rwonxble st¢Ps forthepreventioD and detection of fraud and other itregularities. Page 5
The Sir John Ritblat Family Foundation INDEPENDENT AUDITORS. REPORT TO IHE TRUSTEES OF THE SIR JOHN IUTBLAT FAMILY FOUNDATION OPINtON We have auditeAthe fimancixl thternpnts of The SirJoknRitblat Foundation {the'eharits4 forthe year ended 5 April 2025 wbich ¢omprise the Statement ofFinancial Activities, the Balance Sheet, tbe Statement of Cash Flows aua Ili¥ Trldivd n(TrtES, including a summary of stgnifi¢ani accounting policie$. Th¢ financial repong framework that ha5 been applied in th¢ir prepatIOn is applieabl¢ law and United Kingdom Ac¢owiting Standards, including Financial Reporting Stsndard 102 The Financial Reporting Standard applicable in the UK attd Republic of Ireland, (United Kingdom G¢n¢rally Accepted Aceoullting Practice). lrt our opinion tbe financial statements: 8ive a true gnd fair view of the state of the chgxity& affairs as at 5 April 2025 tsttd of its incoming resources and appli&ition of resources for the y¢ar tben ended. hav¢ been properly prepared In accordanc¢ with United Kingdom Gen¢rally Accepted Accounting Pra¢tic¢.' aDd bave b¢en prepared in accordance with the requirements of the ChitIeS Act 2011. BASIS FOR OPtNION We condurted our audit in Ordance with International Standard5 on Auditing (UK) USAS (UK)) alld applicable law. Our responsibilities und¢r thoK standards are further described in the Audilors, r¢sponsibilitie6 for the audit of the financial stat¢ments section of our report. We ittdependellt of th¢ charity in acc(>rdante wrth thp. e.thicAI reqEiireTllents thgt 3rerelevattt to our audit of th¢ financi st&tementB in the United Kingdom, including the Finmcial Reporting Coun¢il'5 Ethical Standard. and we havc fulfill1 VUL vLliri rthibal IE¥ODsibiliries in accoTdance with these requirements. We b¢lirve thatthe audlt eMd¢n¢¢ we hav¢ obtained is sufficient and appropriate to provide a basis for our opinion. CONCLUSIONS RELATIONG TO GOING CONCERN In auditing the financial statementy we have concluded that the Truste¢s' use of the going concem b&5is of accounting in the preparatioll of the financial statements is appropriate. Based on the work wc have perfornied, we bavc nirt identified any material uncertainties Telating to events or condition5 thal individually or collectively. Tnay wt siRnificant doubt on th¢ charity's ability to continu¢ as 74 going concern for aperiod of at lea* twelve rnonths from when the flljancial statements are authori5ed for issu¢. responsibilities and tkne responsibilities of the TThteeS with respect to going concern are described in tbe releygnt sections of tbis report. P&gc 6
The Sir John Ritblat Family Foundation INDEPENDENf AUDITORS. REPORT TO THE TRUSTEES OF THE SIR JOHN RITBLAT FAMILY FOtrNDATION OTHER INFORK4TION The other inforniation compris¢5 the infonnation included in th+. Anniial Report other than the f1nxeial statemcnts and our Auditors, Report tbereon. The Trustees are r¢sponsible for the other inforniaticn ¢ontain¢d within tkc Annual R¢poÈt. Out upinivu th¢ financial sraiemenrs does not cover th¢ other inforniation except to the cxt¢nt otherwis¢ explicitly stated in our report. we do not expre&s any foml of assuranee conclusion thereon. Ourresponstbility is to read the other inforn)ationand, in doing so, cottsider whether the otbeT inforniation is materially illconsistent with the financial statemthts or our knowledg£ obtained in tbe course of tbe audit, or otherwtse appears to be materially mi&%tated. If we identify such rnaterial inconsistencies or apparentm¢r]al misstatement4 we are required to deterniille wheth¢r this gives rise to a material misstatement in the finantial statements thernselveg. If. based on the work we bave perforn)ed, we ClUde that there is a mat¢rial mi&statement of this other illforniatioa, we are requir¢d to rOrt that fact. We have llothillg to report in this r¢gar(L MARs ON WHICH ARE BEQUtRBD TO REPORT BY EXCEPTION We bave nothing to report in reSpt of th¢ following matteTS where the Charities (A¢wwJts and Reports) Regulations 2008 requires us to report to you if, in our opinion- the inftsrniationgiveniD the Trust¢e5' Report is in¢onsistent in any mat¢rial respect withthe financial statements" or sufficient ac¢ountlDg records have not been k¢pl,' or th¢ financial 5tatwiuits UUL iIi with thc accoundng r¢wd$ and rettrn4 or we have not r¢¢cived all the tnforniation and explanations we require for our audit. PESPONSIBIUTES OF TRUSTBES As explained more fully in th¢ Trustees, Responsibilities Ststem¢nt, the Tntee$ ar¢ responsible for the preparation of the financial statements which give a trye at]d fair view, and for such internal cot]trol ag the Trustees deterniine is nece&sary to enable the prcparation of financial statements that are free from materttl misstat¢menL whether due to fiaud or error. In preparing the financial stat¢m¢nt& the Trust¢¢s responsible for assessing thc charity's ability to tt)ntinue as a 80in8 con¢, disclo8tng? as applicable, mott¢rs r¢l&t¢d tts going Gon£¢rn and using di¢ goLJ]8 concern b1$ of accounting llnlcss the Trust¢es either intend to liquidate the charity or to ce&Y op¢ration4 or bave DO realisric alternats.vc but to do so. AUDITORS, RESPONSIBILITtES FOR THE AUDIT OF THE FINANCIAL STATEMENIS We bav¢ been appointed &5 auditor under section 144 of the Charities Act 2011 and Teport in actordau¢e with th¢ Art and relevant regulations made or having eff¢et thereunder. Our objectives are to obtsin reasonable &g5urance about whctherthe fjnallcial statements as a whol¢ are free from material rni&%tst¢ment. wbether due to fraud or error. and to i&e an Auditors, Report that includes our opinion. Reasonable &ssuranee is ahigh level t>f a1rllee. but ig not a Buarantee th%Lt an audit cottducted in accordance with ISAS (UK) will always detect a matertal mi&atement when it exists. Mi55tatements can isc fr(mi fraud (px eiLUI ar¥ coT]5idcTed maierial If, individually or in the aggregat< they could reasonably be expected to influence the e¢onomi¢ decistons of users taken on the basis of these financial statement$. Page 7
The Sir John Ritblat Family Foundation INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE SIR JOHN RITBLAT FAMILY FOtrNDATION Irregularitie4 including frau( are instances of non-compliattee with law5 and regulations. We design procedures in 11ne with ow r¢sponsibilitte4 outlilled above, to detect matcrial mi&staternents in respect of I¢Su]]t]e5. including fraud. The extent to which cjur prr>tediireg are tAP5Jhle. nf de.terting iffe.Lnilaritie4 including fraud is detailed below.. Ellquiring of manaeMent around actual 2nd potential litigation and claims: R¢vi¢wing board meeting minutes of me¢tings of those charged with governgnce. li¢viewing financial statement di%losures and testing to 5UPPOrtITI8 docum¢nlatioll to OS5¢5S compliat)ce with applicablc laws and regulations,. Performing audit work over the risk of mgnagement tsv¢rrid¢ wntrols. including testing of journal ctttric8 and oth¢r adjustsn¢nts for appropridtcnc54 cvaluating th¢ busiii¢&s L"atioual¢ of si8llifi¢allt transactions outside the nomal Course of busine&s and reviewing accounting estimat¢s for bias. Rpr.Aiise. of the iellt limitations of sn audit. there is a risk that we will not dete¢t ail irregularitie4 including tho8¢ leading lo a material misstatemenl in thc financial statements or non-compliance with reglatiOn. This risk increases the more tbat ¢ornpliance wilh alaw or regulatioll ts removed Irom the ¢v¢nts and trat]sactions r¢flwtcd in the financial statements. Is w¢ will b¢ les5 likely to become aware of instances of non-compliance. Th¢ risk is also greater regarding irr¢gulariti¢s ocCu1ng due to fraud rather thall error, as fraud involves intentional ¢on¢ealmell( forgery, collusion, omi&sion or misrepresentatiott. As part of an audit in aordance with ISAS (UK), w¢ ¢x¢rcise professional judgement and maintain profEIn#1 wticiAm thrniTBhniit the aiidit. We also- Ideniify and &sS the risks of Mer]81 mi55tatement of the fanal statement& wh¢th¢r due to fraud or error. design and perfomi audit procedures responsive to those risk& 2nd obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not d¢t¢ding a mdt¢rial misstatcmcnt r¢sllltlll8 froni fi.aud is Iii8h¢i ili¢tsi foi vil¥ i¢wlLiu¥ fivJIi urur, as fraud may involve eollusion, forgery, intentional omissions, misrepre8¢ntation4 or the override of internal control. Obtsit) an understanding of int¢rn21 ¢ontrol relevant to the audit in order to design audit procedures that are appropriate in the cir¢umstance8 but not for the purpose of exprcssÉng an opinion of the eff¢¢tiveness ot the charity's internal control. Evaluate the *ppr[)PriAtP_g nf Ar.¢11ting poltties lised and the reasonableness of accoulltin8 estimates and related disclosures made by the Truste¢s. Conclude on ih¢ appropriaTeness of the Trusiees, use of the golng concern basis of accountt.ng and, bas¢d on the audit evidence obtsined whether a material uncertainty exists r¢lat¢d to ¢v¢nts or conditions that MAY C&8t 51]1r1¢ant doubt on the charity's ability to continuc as a going concern. tf we conclud¢ that a matcrial un¢¢rtainty cxÈst4 w¢ ar¢ r¢quir¢d to draw attention in our Auditor5, R¢port to the related disclosures in the fillan¢ial statements or, if such disclosures are inadequate, to moth.fy our ¢)pini¢)n. OUT conclusions are based on th¢ audit evidence obtained up to tbe date of our Auditors, Report. However, fure events or conditions may eause the charity to cease to continue &s a going c¢)ncern. Evaluate the overall wesentation. structure and content of the financial ststements, including th¢ disclosures. and whether the financial statemenLf Tepresent the llnderlying transRctinnq anil evpntA in a maJJn¢r that achieves fair presentation. We ¢ommuni¢ate with Ih05e charged with governall¢e regarding, among otber matter4 tb¢ plat]n¢d scope and timing of the audit and significant audit findings. including any significant deficienci¢8 in int¢m81 control that we identify during our audit. PagE 8
The Sir John Ritblat Family Foundation INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE SIR JOHN RITBLAT FAMILY FOUNDA TTON A furth¢rdc5cnption of ourrwonsibilities forthe audit of the fle18] statementsis located on th¢ Financial Reporting Council'q wehsite At" www fre. or8.uWauditor5responsibilities. This description fom8 Part of our Auditors, report. USE OF OUR REPORT This report is made solely to th¢ charity's trnstec4 &s a body. in accordanv with Part 4 of the Charities (Accounts and Reports) Regulations 2008. 0r audit work has been undertaken SO that we might stat¢ to the chan"ty's trustees those matters we are required to stst¢ to them in an Auditors, Report and for DO Oth¢r PiiTpnse. To the fullest extent permittedby law, we do tjot or assume resporL3ibility to anyot)¢ other than the clwity and tts truste¢4 as a body? for our alldit work for this report, or for the opinions we have fotmcd. SEL Atdit LLP BKL Audit LLP ajartered Accountants Statutory Auditor 35 Ballards tAne tondon N3 IXW 21 January 2026 BKL Alldit tLP are eliwhle th Ar.t as aiiditors tn ternis of section 1212 of th¢ Compat)ies A¢t 2006. Page 9
The Sir John Ritblat Family Foundation STATEMENT OF FINANCIAL ACTIVITIES For the earended 5 A ri12025 Unrestricted Unre5trteted 2025 2024 Note ttLtOrng 4Dd eDdoTrinottts from: Donations Investments 26,947 240.234 50,777 235,517 Tot41 income 267.181 286.294 Exp¢nditsr¢ on: Charitsble activities 176,659 125,862 T(*t#l PendItUre 176,659 125,862 Gains on invethent 112.357 415.134 Net jDeome 202,879 575,566 Reconcillkition of fulldg Total funds brought forward 6,089,358 5.513.792 Total funds ¢arrfed forward 6.292,217 The notes oll pag&% 13 to 19 forni part of the financia] statements. PAge 10
The Sir John Ritblal Fdmily Foundation BALANCE SHEET 5 A ril 2025 2025 2024 Note FIXED ASSETS Fixed a&set investm¢nt5 3.870.855 3.746.042 CURRENT ASSETS Cth at ba¢ 2,426.582 2,347,316 CREDITORS: AMOUNtS FAtLtNG DUE (5,200) (4.000) NET CiJRREvf ASSETS 2,421,383 2,343,316 NET ASSETS 6,292,237 6,089,358 THE FUNDS OF THE CEL4RITY Unrestricted fixn& 9-10 6,292,237 0,089,358 The financ2AI statemertts on p8geg 10 to 19 were approved by the TruBt¢g8 and autb0ri8ed fot isÈu¢ and are Signed on their behalf by.. M G Cohen - Trustee The notes on pages 13 to 19 forn part of the financial statements. Pa8ell
The Sir John Ritblat Family Foundation STATEMENT OF CASH FLOWS 5A ri12025 Note 2025 2024 Net ¢ash provided used in operating a¢dvlties (148,511) (74,886) Casb flows from investlllg artivities: Dividends and interest from investment$ Purcb&s¢ of investments Sal¢ proceeds from invesmients 240.234 (407,330) 394,873 235,518 Net c*8h provÉded by Investing activities 227.777 235.518 aMtt8¢ in at ba and in hand iii tli¢ repoiliii¥ p¥iiv 79.266 100,632 Cash at bak and in hond at 6 April 2.347,316 2,186,684 C&%h at bank and ill hattd at 5 April 12 2,426,582 2,347,316 Th¢ not¢s on pages 13 to 19 forrn part of the financial staterneDt& Page12
The Sir John Ritblat Family Foundation NOTES FORMING PART OF THE FINANCIAL STATEMENTS Foi the year ended 5 A ri12025 AccouKftNG POLICIES BASIS OF ACCOUNTING The finan¢ial stattrnents have been prepared in accordance with tbe Charities SORF (FRS 102) - Accounting and R¢porting by Charities.. Stat¢mentof Recommended Pra¢ti¢¢ applicable to charitie5 prcparillg th¢ir OuntS in atsordancc witli tli¢ Ft1]]¢1al R¢yuIliIi¥ S(utidkLrd appli1¥ iT] tbr UK and R¢public of Ireland (FRS 102) (¢ffective l January 2019). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Clwities Act 2011. The Foundation constitutes a publie bett¢fit ¢ntity a5 defined by FRS 102. (K)ING CONCER Thc Trustccs arG not aw¢ of any mat¢rial unr¢rtaiLItL¢S I"¥lated ts) rvtiiL¥ vr wndilivnb thal may cast significant doubt about the ability of the ¢harity to continue as a going eoncern and have a r¢asonable expectation that the cblty has ade¢wat¢ resouwes to continue in operational existence for the foreseeable fvttue. Ullrestrict¢d funds comprise those fimits which the Trustees are free to us¢ for any purpose in furtheraD¢¢ of the charitable objects. rNvESThNT COmE Incorn¢ from investments is a¢¢oUttt for on a receivable basis. COME All incorne TS recognised once the charity has entitl¢m¢nt to the tn¢ome, it is probable that the income wtll b¢ rec¢ived and the monetary value of income can be med with Sufficient reliability. is IrGlaimcd (Fn gift aid vknere appllcable and r¢¢oEnised on a receivable basis. RECOGNtTtON OF LtABILtTIES Expenditure 15 a£counted for on an acc18 b&sts. inclusive of VAT which cannot be reclaim. Page 13
The Sir John Ritblat Family Foundation NOTES FORMING PART OF THE FINANCIAL STAIEMENTS For the eat ended 5 A ril 2025 ACCOUNTING POLICIES (continued) EXPENDITURE Grants payable are payments made to thirdparties in the fiJrther8nce of the charitable objective8 nf Ihe Trust. Grant commitmellts are recOlSed once the grallt offer h&8 been approved, the recipient notificd of the grant and a legal or constructiv¢ obligation thereby Created. Sill8le or multi-y¢ grants ar¢ accounted forwben eitherthe recipient has a reasonable expectation that tb¢y will r¢c¢ive a grant and th¢ Trustees have agreed to pay th¢ gTant without colldition, or the recipient h&8 a reasonable expe¢tation that they will receive a grant and any ¢ottditioD attaching to tho gr40t is outside the control of th¢ trust. ALU>CATtON OF OVERHEADS AIID SUPPORT COSTS Ov¢rht&ls and support StS allocated io full to th¢ sin81s rbatitablc acttvity ulld¢Ltaktll by tht Charity. CHAIUTABtE ACTtVlTtES Costs of charitable a¢tivities Include lts made 8nd associated costs and gOvernCe c4)sts. OOVERNANCE COSTS Governanc¢ 5t& wnip115c all wsts itivolvui¥ Lhr publikn abwullltibility of the charity and its compliance with regulation. These costs include eosts related to audii fees. FIXED ASSET tNVESTME)rrs InvestrneDls are stated at their fair value as al the balan¢¢ sheet date. The ststement of fmallcial activities in¢ludes the net gains and losses in rwect of fair value movements attd disp05als throughout the year. PEALISED GAINS AND LOSSES All investment gains and losses are taken to the Statement of Financial Activities &8 they tirise. Realised saittÉ and loÈÈes on investments are calculoted ELY th¢ diffor¢n¢¢ bctsvccn 1¢8 procctd% and opening fair value (purchw value if later}. Fair value gains and Iossc5 arc calculated as the difference between the v¥lue at the year end and opening fair value (or purchase value if later). TAXATtON Th¢ ¢hartty is aregistered charity and no liability to t&xation arises on the rewlts of its activities as appli¢d for ¢han'table purpts5es with the ¢x¢tIOn of investment inctsme, which is t&xed at sour£¢. Page 14
The Sir John Ritblat Family Foundation NOTES FORMING PART OF THE FtNANCIAL STATEMEN15 For the year ended 5 A ril 2025 ACCOUNTING POLICIES (continued) FtNANCIAL INsTRurs The Foundation's financial a&ts and liabilities comprise fixed &$5et investtnents (referto fixed a58¢t investments accounting policy), c&£h at bank and inhand, accrued income, acC18alld other loans. Accrued ittcome which is receivable within onc yw t8 initiallymeasured at the transaction price and is sllbsequently rneasured at amortised cost. being the transaction price le&5 aDy amount5 settled. Accnjals and other loans are initially measured at the transactionprice and subsquently measured al or[]urli cost, being th¢ transaction price less ally amouDTS seuled. CRJTICAL AccouNrtNG ESTTMATES AND ASSUMPTIONS Th¢ Foundation makes ¢stimatcs and assumptions con¢erning the future. The resulting e#imat¢$ and assumptions will. by definition, geldom equal the related acttul re8uIt8. The TTUStee$ do not ¢onsid¢r there tobe any estimates and assumptions that have a significant riskof causing a material adjustm¢nt to the Call8 amounts of &58ets and liabilities within th¢ next financial year. EMPLDYEES There were no employee5 during the year (2024.. nil) and the Trustees are considered to be the key m2nsgement persotjttel of the Foundation. The Trnsttt$ r¢ceived no remuneration, oth¢r bcnetits or reimbtsrsed expens¢s dwing the year (2024: nil). Grantspayablc 2re paentS made to third parties in the further3nce of the charitable objectives of tbe trnst at the Trustees. discretion. DUNA"I"IUNS 2025 2024 Gcncral donations 20,947 50,'1"11 Page 15
The Sir Jol]n Ritblat Family Foundation NOTES FORMING PART OF THE FINANCIAL STATEMENTS For the end¢d 5 A ri12025 INCOME FROM If4vESThtENTS 2025 2024 Dividends received Interest on fixed interest s¢¢uriti¢$ Bank interest received 106,261 28,645 105,328 107,659 26,502 101,356 240,234 235.517 NET INCOME FOR THE YEAR 2025 2024 Net incorn¢ is staled after charging.. Governanc¢ costs.. Ind¢p¢ndent audli fee ttgal fees 4,576 18.525 4.000 23,101 4.000 CTABlE ACTtVITTES 2025 2024 GRAwf EXPENDITURE Bliti1 Fri¥ndb' LTrf ADI 15rael British Friends of the Art Museums of Israel Central Synagogue CoTnmunity Chest Convoco Dad's House Friends of the South DOWLS Glyndebourne Productions H¢ort C¢113 Foundation IDStitute of Internationa] Monetary Rewch Jewish Interactive Libvral Jewish Synagogue Foundatlon MakfrA-Wish National Art Coll¢£tions Fund Norn)omdy Memoriai Trust Oxford Phtlhamionic OrclLestra Tnt ince Albert 11 of Monaco Foundation Race Against D¢m¢ntia Royal Opcra Housc Covcnt Gardctt r.oundation 30,000 1,500 2.500 2,110 4,343 100 40 30,000 1,000 10.000 40 10,000 1.000 1,000 2,113 5,000 5,000 5,000 5,000 5,510 5.500 4.820 Totsl carried fonvard 52,860 78.716 Pagc 16
The Sir John Ritblat Family Foundation NOTES FORMING PART OF THE FINANCIAL sTATENIs For the ear ended 5 A ril 2025 6. CHARITABIE ACTtvtTIES (wntinued) 2025 2024 Total bTOU8bt for4v2rd 52.860 78.716 St George's Hospitsl Charity Stendwitbus UK The Attingbam Trust The Art Fund The Design Museum The Garden Museum The Jackson Society The Lady Joseph Charitable Trust The Royal lttstityte of Great Britain unit Synagogue The W¢izmann Instite Foundation Winst(,$ Wish 300 30,000 5,000 2.550 2.112 9.200 500 25,000 500 665 3.16S 1,000 25,000 9,605 5,860 3,000 134,175 120,858 The total number of grants was 19 (2024.. 28) to institionS and Done (2024: non¢) to ittdividuals. GOVERNANCE COSTS llld¢p¢ndent audit fe¢ ttgai fees 4,576 18,525 4,000 ADMfNISIRATION COSTS W¢bsite developtn¢nt costs Bank fees 18,456 927 1.004 176.659 125,802 FIXED ASSET rNVESTNTs 2025 2024 Market value at 6 April Add additions at ¢ost 1£5$ disposals at Calllg value Net gain on disposals Net gain on revalugtion 3,746,042 3.330,907 407,330 (394,874) 4,671 107,686 415,135 MaTka value a( J ApTII 3.¥7V,¥55 3.746.042 Pa8? 17
The Sir John Ritblat Family Foundation NOTES FORMtNG PART OF THE FtNANCIAL STATEMENTS For the ear ended 5 A ril 2025 CREDITORS - Ajnounts fallinR due witbin one y¢ar 2025 2024 A¢¢ruals 5,200 4.000 SUMMARY OF FUNDS At 6 April 2024 Income ExpendiDJre lttvestment At 5 April gains 2025 Unrestricted funds 6,089,358 267,181 (176,659) 112.357 6.292.237 At 6 April 2023 Income Expenditure Investmettt At 5 April gains 2024 Ut)r¢stri¢ted funds 5.513,792 286,294 (125,862) 415,134 6,089,358 10. ANALYSIS OF NET ASSETS 2n24 UDttstri¢ted funds.. Fixed asset investments Current assets Cr¢ditors due within one year 3,870,855 2,426.582 (5.200) 3.746.042 2,347,316 (4,1)00) 6.292,237 6.089.358 RECONCILIATION OF KET INCOfv TO NET CASH FROM OPERATtNG ACIIVITIES 2025 2024 Net income for the year Adjustments for: GairAS on investments Dkvidends from investments Ln¢r¢ase sn Creditors 202.879 575.566 (112,357) {415,134) (240,233) {235.518) 1,200 200 (148,511) (74,886) Pag¢18
The Sir John Ritblat Family Foundation NOTES FORMING PART OF THE FINANCIAL sTATENTs For the ear ended 5 A ri12025 12. ANALYSIS OF CASH AND CASH EQUIVALENIS 2025 2024 Lash at bank 2,426.582 2.347,316 Page19
Foundation 2025 SIGNED accounts v2 Final Audit Report 2026-01-21 Created.. 2021-21 By.. Katie Foster IKalie.Foster@bkl.co.ukl Sl8lus'. Signed Tr8nsaclion ID.. CBJCHBCA4BAAh63J5rfN-dzbwDIYJ1W2U7_hloAogpZh "Foundation 2025 SIGNED accounts v2" History Document created by Katie Foster IKalie.Fosler@bkl.co.ukl 2026-01-21- 2..04.'42 PM GMT- IP address.. 31.121.171.20 . Document emailed to Carly Pinkus 1cady.pinkus@bkl.co.ukl for signature 2026-01-21 - 2..06..12 PM GMT Email viewed by Cady Pinkus 1carty.pinkus@bkl.co.ukl 2026-01-21- 2".06".39 PM GMT- IP addrèss." 94.12.240.198 Signer Carly Pinkus lcarfy.pinkus@bkl.co.ukl entered name al signing as BKL Audit LLP 2026.01.21 - 2..07'.19 PM GMT- IP address.. 94.12.240.198 Document e-signed by BKL Audit LLP {carly.pinkus@bkl.co.ukl Signature Date.. 202&01-21- 2..07..21 PM GMT- Time Source.. setver- IP address.. 94.12.240.198 Agreement completed. 2026-01-21- 2.'07.'21 PM GMT Adobt A(robatSign