|CONTENTS||||PAGE|
|---|---|---|---|---|
|General Information|||||
|Trustees' Report||||3-6|
|Auditors'
Report||||6-8|
|Statement ofFinancial|Activities||||
|Balance Sheet||||10|
|Statement ofCash Flows|||||
|Notes to the Financial|Statements|||12 - 17|
|Schedule ofCash Charitable||Donations|Paid|18|
##
|SETTLOR|Lord Gavron CBE(Deceased)|Lord Gavron CBE(Deceased)|||||
|---|---|---|---|---|---|---|
|DEEDS|Settlement
dated 31stJuly 1974||||||
|REGISTERED|||||||
|CHARITY NO.|268535||||||
|REGISTERED|27 Maywin
Drive||||||
|ADDRESS|Hornchurch||||||
||Essex||||||
||RlvH1 3ST||||||
|TRUSTEES|Dr Katharine
Susan Gavron (Chair)||||||
||Charles Leonard Corman (Deceased||11th September 2022)||||
||Jessica Leah Gavron||||||
||Sarah Gavron||||||
|MAIN TERMS|The trustees
are directed to hold the||capital and income ofthe trust fund for such charitable|||institutions|
||or charitable
purposes|as the trustees|shall from time to time in their absolute discretion||determine.||
|INVESTMENT|||||||
|POWERS|The trustees
have very|wide investment||powers.|||
|BANKERS|Handelsbanken||||||
||2nd Floor, High Hill House||||||
||6A Hampstead
High Street||||||
||London, NW3 IPR||||||
|HONORARY|Dechert LLP||||||
|SOLICITORS|160Queen Victoria Street||||||
||London EC4V 4QQ||||||
|FUND|Schroder &Co Limited||||||
|MANAGERS|12 Moorgate||||||
||London||||||
||EC2R 6DA||||||
||Ruffer LLP||||||
||80 Victoria Street||||||
||London||||||
||SWIE 5JL||||||
|AUDITORS|Prentis & Co LLP||||||
||Chartered
Accountants|& Statutory|Auditors||||
||115cMilton Road||||||
||Cambridge||||||
||CB4 IXE||||||
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|||||2022|2021|
|---|---|---|---|---|---|
|||||Unrestricted|Unrestricted|
||||Note|8||
|INCOME||||||
|Donations|||11|1,559,376||
|Investment
income|||2|87,814|104,206|
|TOTAL INCOME||||1,647,190|104,206|
|EXPENDITURE||||||
|Cost ofraising funds;||||||
|Investment
management|costs|||30,676|27,]16|
|Expenditure
on charitable|activities|||633,358|417,687|
|TOTAL EXPENDITURE||||664,034|444,803|
|NET INCOME/(EXPENDITURE)||BEFORE||||
|GAINS ON INVESTMENTS||||983,156|(340,597)|
|Net gains on investments||||527,534|1,945,373|
|NET MOVEMENT
IN FUNDS||||1,510,690|1,604,776|
|RECONCILIATION
OF FUNDS||||||
|Total funds brought
forward||||8,926,537|7,321,761|
|Total funds carried forward||||10,437,227|8,926,537|
##
|BALANCE SHEET|||||
|---|---|---|---|---|
||Note|2022|2021||
|FIXEDASSETS|||||
|Investments||9,904,396||8,865,711|
|CURRENT ASSETS|||||
|Cash||690,300|128,467||
|Debtors and prepayments||46,500|4,203||
|TOTAL CURRENT ASSETS||736,800|132,670||
|LIABILITIES|||||
|Creditors: falling due within|||||
|one year|10|(128,969)|(51,844)||
|NET CURRENT ASSETS||607,831||80,826|
|Total assets less current liabilities||10,512,227||8,946,537|
|Creditors: falling due after one year|10|(75,000)||(20,000)|
|TOTAL NET ASSETS||10,437,227||8,926,537|
|THE FUNDS OF THE CHARITY|||||
|Unrestricted
Funds|12|10,437,227||8,926,537|
##
##
||||2022|2021|
|---|---|---|---|---|
|||Note|Total|Total|
|Net cash used in operating|activities|13|985,170|(483,994)|
|Cash flows from investing|activities:||||
|Interest and dividends
Net (purchase)/sale
ofinvestments|||87,814
(511,151)|104,206
66,489|
|Net cash provided
by investing
activities|||(423,337)|170,695|
|Change
in cash and cash equivalents
in the year
Cash and cash equivalents
at the beginning|||561,833|(313,299)|
|ofthe reporting
period|||128,467|441,766|
|Cash and cash equivalents
at|the|13|||
|end ofthe reporting
period|||690,300|128,467|
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|INVESTMKNTINCOME||||
|---|---|---|---|
||||Total|
|Year ended 5th April 2022|UK|Non-UK|2022|
|Equities|33,094|27,678|60,772|
|Fixed interest|21,125|5,881|27,006|
|Interest &om stockbroker|36||36|
||54,255|33,559|87,814|
|INVESTMKNT INCOME|||Total|
|Year ended 5th April 2021||Non-UK|2021|
|Equities
Fixed interest|29,472
24,336|45,923
4,475|75,395
28,811|
||53,808|50,398|104,206|
##
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##
|CHARITABLE ACTIVITIES|CHARITABLE ACTIVITIES||||||Supportand||
|---|---|---|---|---|---|---|---|---|
|Year ended 5th April 2022||||||Charitable|Governance|Total|
|||||||Activities|Costs|2022|
|||||||||f|
|Donations
(note 4)||||||583,380||583,380|
|Staffcosts (note 6)|||||||41,219|41,219|
|Stationery
costs|||||||284|284|
|Bank charges|||||||549|549|
|Bookkeeping
and payroll|||||||4,074|4,074|
|Audit and accountancy
fees|||||||3,852|3,852|
|||||||583,380|49,978|633,358|
|CHARITABLE ACTIVITIES|||||||Supportand||
|Year ended
5th April|2021|||||Charitable|Governance|Total|
|||||||Activities|Costs|2021|
|Donations
(note 4)||||||367,990||367,990|
|Staff costs (note 6)|||||||41,227|41,227|
|Stationery costs|||||||462|462|
|Bank charges|||||||520|520|
|Exchange rate losses|||||||4|4|
|Bookkeeping
and payroll|||||||3,982|3,982|
|Audit and accountancy
fees|||||||3,502|3,502|
|||||||367,990|49,697|417,687|
|CHARITABLE DONATIONS||PAYABLE|||||2022|2021|
|Total cash donations|paid during|the|year (see page 18)||||451,463|402,990|
|Donations
paid during|the year that were included||||in the previous||||
|year's provisions|||||||(41,000)|(53,000)|
|Total net current year|cash donations||paid||||410,463|349,990|
|Additional
donations|committed|to be paid||within|one year||97,917|18,000|
|Additional
donations|committed|to be paid||after one year|||75,000||
|Total donations
charged to the Unrestricted||||Income Account|||583,380|367,990|
|NET DEFICIT FOR THE YEAR|||||||2022|2021|
|The net deficit for the|year is arrived||at aiter charging:||||||
|Audit fee
Fees paid to Auditors|for other services||||||2,030
5,896|1,900
5,584|
##
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##
|||||
|---|---|---|---|
|INVESTMENTS||2022|2021|
|Market value at 6th April 2021||8,865,711|6,986,827|
|Additions||2,716,249|3,308,800|
|Disposals
Net unrealised
gains||(2,205,098)
427,227|(3,375,829)
1,200,156|
|Net realised
gains||100,307|745,217|
|Market value at 5th Apri!2022||9,904,396|8,865,171|
|Historical cost at 5th April 2022||8,781,936|7,916,056|
|Investments
at fair value comprise:|||Total|
|Year ended 5th April 2022|UK|Non UK|2022|
|Equities
Fixed interest|3,210,585
253,883|5,916,727
523,201|9,127,312
777,084|
||3,464,468|6,439,928|9,904,396|
|Investments
at fair value comprise.|||Total|
|Year ended 5th April 2021|UK|Non UK|2021|
|Equities
Fixed interest
Unlisted
investments|2,421,425
658,773
56,000|5,347,714
381,799|7,769,139
1,040,572
56,000|
||3,136,198|5,729,513|8,865,711|
##
##
##
|CASH||||2022|202]|
|---|---|---|---|---|---|
|Bank accounts||||110,094|58,930|
|Fund managers'|accounts|||580,206|69,537|
|||||690,300|128,467|
|DEBTORS AND PREPAYMENTS||||2022|2021|
|(All due within|one year)|||f||
|Prepayrnents
and accrued income||||46,500|4,203|
|CREDITORS||2022||2021||
|||Due within|Due after|Due within|Due after|
|||one year|one year|one year|one year|
|||f.|6|8||
|Charitable
donations||122,917|75,000|46,000|20,000|
|Accruals||4,400||4,]92||
|Social security|and pension|1,652||1,652||
|||128,969|75,000|51,844|20,000|
##
|ANALYSIS|OF CHARITABLE FUNDS|2022|2021|
|---|---|---|---|
|||Unrestricted|Unrestricted|
|||General|General|
|Balance b/fwd|6 April 2021|8,926,537|7,321,761|
|Income||1,647,190|104,206|
|Expenditure||(664,034)|(444,803)|
|Gains on investments||527,534|1,945,373|
|Balance c/fwd|5 April 2022|10,437,227|8,926,537|
##
##
|ACTIVITIES||||
|---|---|---|---|
|||2022|2021|
|||8||
|N
et movement
in funds||1,510,690|1,604,776|
|Adjustments
for:||||
|Dividends
and interest from investments||(87,814)|(104,206)|
|Gains on investments||(527,534)|(1,945,373)|
|Increase
in debtors||(42,297)|(4,203)|
|Increase/(decrease)|in creditors|132,125|(34,988)|
|||985,170|(483,994)|
|ANALYSIS OF CASH AND CASH EQUIVALENTS||||
|||2022|2021|
|Cash at bank||690,300|128,467|
##
|SCHEDULE OF CAS|H CH|AR%AB|LE DONATIONS
OFf3,000AND ABOVE||
|---|---|---|---|---|
|999Club||||3,000|
|Acland Burghley School||||10,000|
|Amb Israel Children's|Tennis|Charity|(Freddie Krivine Foundation)|36,787|
|Arnott Cato Foundation||||7,200|
|Arts for All||||4,000|
|BalletBoyz||||25,000|
|Body Dysmorphic
Disorder Foundation||||3,000|
|Communigrow||||3,000|
|Disasters Emergency|Committee|||10,000|
|Families United Netwodt||||5,000|
|Fight Against Blindness||||3,000|
|Flynne's Barn||||10,000|
|Get Out||||10,000|
|Heathrow
Special Needs||||4,000|
|Highgate
International|Chamber Music Festival|||10,000|
|House ofIllustration||||50,000|
|Imperial War Museum||||20,000|
|Jackson's Lane Centre||||30,000|
|Keen London||||5,000|
|Leonard Seiner Legal|Education Foundation|||5,000|
|Live United||||5,000|
|Luberon Nature||||8,821|
|Margaret
Carey Foundation||||5,000|
|Mary Rose Trust||||10,000|
|Morpeth School||||60,000|
|Museum ofthe Home||||3,000|
|Not Beyond Redemption||||5,000|
|Open Democracy||||25,000|
|Orchid||||5,000|
|Para Dance||||5,000|
|Prisoners Education Trust||||5,000|
|Project Harar||||3,000|
|StAnza||||5,000|
|Special Educational
Needs Fatnilies|||Support Group|3,400|
|Support Through
Court||||3,000|
|The Hardman
Trust||||5,000|
|The Longford Trust||||3,000|
|The Spires Centre||||5,000|
|University
Jewish Chaplaincy||||5,000|
|Young Musicians
Symphony
Orchestra (YMSO)
Total ofall donations
less than f3,000||||4,000
24,255|
|Total donations
made|during|the year (note 4)||451,463|