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|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|
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|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|
||30Gresham
Street|||
||London EC2V 7QN|||
|AUDITORS:|McCormack
8 Associates|||
||Registered
Auditors|||
||Chartered
Certified Accountants|||
||311Chase Road|||
||Southgate|||
||London N14 6JS|||
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|FOR THE YEAR ENDED 31STDECEIIII|BER2022||||
|---|---|---|---|---|
||||Unrestricted|Funds|
||NOTES||2022|2021|
|Income|||||
|Dividend
and interest
income
Interest|||56,414
465|54,849|
|Total Income|||56,879|54,849|
|Expenditure|||||
|Direct charitable
expenditure
Management
and administration|||53,000
26,883|50,988
28,002|
|Total expenditure|||79,883|78,990|
|Net income/
(expenditure)
before investment
asset disposals|||(23,004)|(24,141)|
|Profits/ (Losses) arising
on|||||
|Stock Exchange investments:
Realised
Profits/ (Losses)
Unrealised
Profits/ (Losses)||(78,884)
(432,881)|11,282
298,934||
||||(511,765)|310,216|
|Net movement
in funds for the year|||(534,769)|286,075|
|Total funds brought
forward|||3,462,866|3,176,791|
|Total funds carried forward|||2,928,097|3,462, 866|
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||Interest Received|||||2022||2021|
|---|---|---|---|---|---|---|---|---|
||Same was received|gross in|||||||
||respect of short-term
deposits with:||||||||
||Stockbrokers|||||465|||
||Barclays Bank Pic||||||||
|3.|Direct Charitable|ex enditure||||2022||2021|
||Grants|||||41,600||44,200|
||Scholar's expenses|||||5,200||1,400|
||Donations|||||6,200||5,388|
|||||||53,000||50,988|
|4.|Mana
ement and|administration|ex enses|||2022||2021|
||Audit fee|||||6,000||5,640|
||Investment
Portfolio Management||Fees|||20,341||21,309|
||PAU administration|charges||||470||947|
||Bank and other charges|||||72||106|
|||||||26,883||28,002|
||The investment
manager,
Investec
a percentage
ofthe portfolio value.||Wealth
and Investment
Ltd. , is
No commissions
were charged||||remunerated
based on
on transactions.||
|5.|Investments
held|on 31"December 2022|||Mid|Market|Mid market||
||||||Price on|||Price on|
||Investments||||31.12.22|||31.12.21|
||Fixed interest stocks||||509,503|||390,603|
||Equities
&Alternative
assets||||1,926,462|||2,503,931|
||Property
Fund|||||145,552||161,294|
||Alternative
assets|—Infrastructure|& other Funds||264,251|||271,960|
||||||2,845,768|||3,327,788|
||Investments
summa|||||
|---|---|---|---|---|---|
||||2022||2021|
||Investments
at market value|||||
||on 1st January 2022
Acquisitions
at cost
Sale proceeds from disposals||3,327,788
998,546
(968,801)||3,020,041
808,691
(811,160)|
||Profits/ (Losses) in the year:|||||
||Realised
Profits/ (Losses)|(78,884)||11,282||
||Unrealised
Profits/ (losses)|(432,881)||298,934||
||||(511,765)||310,216|
||INVESTIVIENTS AT MARKET VALUE|||||
||ON 31STDECEMBER 2022||2,845,768||3,327,788|
|6.|Debtors||2022||2021|
||Prepayments|||||
|7.|Cash at bank||2022||2021|
||Cash at bank||11,842||91,862|
||Cash on deposit with Stockbrokers||82,870||76,467|
||||94,712||168,329|
||Creditors and accrued char es||2022||2021|
||Grants payable||||22,100|
||Investment
Portfolio Management|Fees|5,080||5,511|
||Audit and accountancy||6,000||5,640|
||Other charges||1,303|||
||||12,383||33,251|
||Trust Ca ital Account||2022|2021|
|---|---|---|---|---|
||At beginning
ofthe year||3,462,866|3,176,791|
||Net movement
in funds for the year:||||
||Realised profits/(losses)|(101,888)||(12,859)|
||Unrealised
profits/(losses)|(432,881)||298,934|
||||(534,769)|286,.075|
||At end ofthe year||2,928,097|3,462,866|
|10.|Contin
ent liabilities||NONE|NONE|
|11.|Financial commitments||NONE|NONE|
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|||2022||2021|2020|
|---|---|---|---|---|---|
|Incoming Resources||56,879||54,849|71,798|
|Total expenditure||(79,883)||(78,990)|(74,658)|
|Net income/
(expenditure)||(23,004)||(24,141)|(2,860)|
|Profits/ (Losses) arising|on|||||
|Stock Exchange investments:||||||
|Realised
profits/ (losses)||(78,884)|11,282|(165,918)||
|Unrealised
profits/ (losses)||(432,881)|298,934|177,133||
|||(511,765)||310,216|11,215|
|Net movement
In funds||(534,769)||286,075|8,355|
|Net Funds Em
lo ed||||||
|Investments||2,845,768|3,327,788||3,020,041|
|Current Assets||94,712||168,329|189,435|
|Current
liabilities||(12,383)||(33,251)|(32,685)|
|Net Assets||2,928,097|3,462,866||3,176,791|
|~Ca
ital||||||
|Total funds brought
forward||3,462,866|3,176,791||3,168,436|
|Net movement
on funds||(534,769)||286,075|8,355|
|Trust Capital Account||2,928,097|3,462,866||3,176,791|