2021-12-31-accounts

CONTENTS			Pacae
Legal and administrative	information
Report ofthe trustees			4-6
Report ofthe auditors			7-9
Statement of Financial	Activities		10
Balance Sheet
Notes forming part ofthe financial		statements	12-15
Three year summary			16

TRUSTEES:	P. Chlapowski (Chairperson)	P. Chlapowski (Chairperson)
	Miss C Raczynska
	Ms J Soszko
	Dr W Micr Jedrzejowicz
	Dr.J.Kamieniecki
TRUST DEED:	Dated 24th September	1973
REG. CHARITY NO:	266428
ADDRESS:	Highmead
	10Roxborough Park
	Harrow
	Middlesex HA1 3BE
BANKERS:	Barclays Bank Pic
	114Gloucester Road
	London SW7 4SE
SOLICITORS:	Messrs Farrer 8 Co.
	66 Lincoln's Inn Fields
	London WC2A 3LH
INVESTMENT MANAGERS:	Investec Wealth and Investment		Ltd
	30 Gresham Street
	London EC2V 7QN
AUDITORS:	McCormack &Associates
	Registered Auditors
	Chartered Certified Accountants
	311Chase Road
	Southgate
	London N14 6JS

FOR THE YEAR ENDED 31STDECEM	BER 2021
			Unrestricted	Funds
	NOTES		2021	2020
Income
Dividend and interest income Interest			54,849	71,795 3
Total Income			54,849	71,798
Expenditure
Direct charitable expenditure Management and administration			50,988 28,002	49,500 25,158
Total expenditure			78,990	74,658
Net income/ (expenditure) before investment asset disposals			(24,141)	(2,860)
Profits/ (Losses) arising on
Stock Exchange investments: Realised Profits/ (Losses) Unrealised Profits/ (Losses)		11,282 298,934	(165,918) 177,133
			310,216	11,215
Net movement in funds for the year			286,075	8,355
Total funds brought forward			3,176,791	3,168,436
Total funds carried forward			3,462,866	3,176,791

	Interest Received						2021	2020
	Same was received	gross		in
	respect of short-term		deposits		with:
	Stockbrokers
	Barclays Bank Pic
3.	Direct Charitable ex enditure						2021	2020
	Grants						44,200	45,500
	Scholar's expenses						1,400
	Donations						5,388	4,000
							50,988	49,500
4.	INana ement and	administration				ex enses	2021	2020
	Audit fee						5,640	5,400
	Investment Portfolio		Management			Fees	21,309	19,758
	PAU administration		charges				947
	Bank and other charges						106
							28,002	25,158

5.	Investments	held on	31"December 2021	31"December 2021	Mid Market	Mid market
					Price on	Price on
	Investments				31.12.21	31.12.20
	Fixed interest stocks				390,603	500,204
	Equities 8,	Alternative	assets		2,503,931	2,154,901
	Property Fund				161,294	143,716
	Alternative	assets —Infrastructure		8 other Funds	271,960	221,220
					3,327,788	3,020,041

	Investments summa
			2021		2020
	Investments at market value
	on 1st January 2021 Acquisitions at cost Sale proceeds from disposals		3,020,041 808,691 (811,160)		2,990,742 1,462,098 (1,444,014)
	Profits/ (Losses) in the year:
	Realised Profits/ (Losses)	11,282		(165,918)
	Unrealised Profits/ (losses)	298,934		177,133
			310,216		11,215
	INVESTMENTS AT MARKET VALUE
	ON 31STDECEMBER 2021		3,327,788		3,020,041
6.	Debtors		2021		2020
	Prepayments
7.	Cash at bank		2021		2020
	Cash at bank		91,862		149,303
	Cash on deposit with Stockbrokers		76,467		40,132
			168,329		189,435
	Creditors and accrued char es		2021		2020
	Grants payable		22,100		22,100
	Investment Portfolio Management	Fees	5,511		5,185
	Audit and accountancy		5,640		5,400
			33,251		32,685

	Trust Ca	ital Account		2021		2020
	At beginning ofthe year			3,176,791	3,168,436
	Net movement in funds for the year:
	Realised	profits/(losses)	(12,859)		(168,778)
	Unrealised	profits/(losses)	298,934		177,133
				286,075		8,355
	At end of	the year		3,462,866	3,176,791
10.	Contin ent liabilities			NONE		NONE
11.	Financial	commitments		NONE		NONE

		2021		2020	2019
Incoming Resources		54,849		71,798	93,296
Total expenditure		(78,990)		(74,658)	(73,686)
Net income/ (expenditure)		(24,141)		(2,860)	19,610
Profits/ (Losses) arising	on
Stock Exchange investments:
Realised profits/ (losses)		11,282	(165,918)		3,799
Unrealised profits/ (losses)		298,934	177,133	360,241
		310,216		11,215	364,040
Net movement In funds		286,075		8,355	383,650
Net Funds Em lo ed
Investments		3,327,788	3,020,041		2,990,742
Current Assets		168,329		189,435	188,131
Current liabilities		(33,251)		(32,685)	(10,437)
Net Assets		3,462,866	3,176,791		3,168,436
~Ca ital
Total funds brought forward		3,176,791	3,168,436		2,784,786
Net movement on funds		286,075		8,355	383,650
Trust Capital Account		3,462,866	3,176,791		3,168,436