| FINANCIAL STA | TE~ | S FOR TH | E YEAR ENDED 5TH APRIL 2023 | |
|---|---|---|---|---|
| CO~S | PAGE | |||
| General Information | ||||
| Trustees' Report | 3-5 | |||
| 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 |
| THE ROBERT GAVRON CHAR%ABLE TRUST | THE ROBERT GAVRON CHAR%ABLE TRUST | THE ROBERT GAVRON CHAR%ABLE TRUST | ||
|---|---|---|---|---|
| FINANCIAL STATE~S FOR THE YEAR ENDED | 5TH APRIL 2023 | |||
| GE~INFORMATION | ||||
| SETTLOR | Lord Gavron CBE(Deceased) | |||
| DEEDS | Settlement dated 31stJuly 1974 |
|||
| REGISTERED C~NO. |
268535 | |||
| REGISTERED | 27 Maywin Drive | |||
| ADDRESS | Hornchurch | |||
| Essex | ||||
| RM11 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 of the 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. | ||
| Handelsbanken | ||||
| 2nd Floor, High Hill House | ||||
| 6A Hampstead High Street |
||||
| London, NW3 IPR | ||||
| SOLICITORS | Dechert LLP | |||
| 160Queen Victoria Street | ||||
| London EC4V 4QQ | ||||
| FIJND | Schroder &:Co Limited | |||
| MANAGERS | 12Moorgate | |||
| London | ||||
| EC2R6DA | ||||
| Rutfer LLP | ||||
| 80 Victoria Street | ||||
| London | ||||
| SWIE 5JL | ||||
| AUDITORS | Prentis &Co LLP | |||
| Chartered Accountants &Statutory |
Auditors | |||
| 115cMilton Road | ||||
| Cambridge | ||||
| CB4 1XE |
| STATEMENT OF FINAN | CIAL A | CTIVITIES | |||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Unrestricted | Unrestricted | ||||
| Note | |||||
| INCOME | |||||
| Donations | ll | 1,559,376 | |||
| Investment income |
2 | 115,704 | 87,814 | ||
| TOTAL INCOME | 115,704 | 1,647,190 | |||
| Cost ofraising funds: | |||||
| Investment management |
costs | 30,327 | 30,676 | ||
| Expenditure on charitable |
activities | 479,468 | 633,358 | ||
| TOTAL EXPENDITURE | 509,795 | 664,034 | |||
| NET INCOME/(EXPENDITURE) | BEFORE | ||||
| GAINS ON INVESTMENTS | (394,091) | 983,156 | |||
| Net gains/(losses) on investments |
(415,904) | 527,534 | |||
| NET MOVEMENT IN FUNDS | (809,995) | 1,510,690 | |||
| RECONCILIATION OF |
FUNDS | ||||
| Total funds brought forward |
10,437,227 | 8,926,537 | |||
| Total funds carried forward | 9,627,232 | 10,437,227 |
| BALANCE SHEET | ||||||
|---|---|---|---|---|---|---|
| Note | 2023 | 2022 | ||||
| FIXED ASSETS | ||||||
| Investments | 9,447,206 | 9,904,396 | ||||
| CURRENT ASSETS | ||||||
| Cash | 265,507 | 690,300 | ||||
| Debtors and prepayments | 33,950 | 46,500 | ||||
| TOTAL CURRENT ASSETS | 299,457 | 736,800 | ||||
| LIABILITIES | ||||||
| Creditors; falling due within |
||||||
| one year | 10 | (116,431) | (128,969) | |||
| NET CURRENT ASSETS | 183,026 | 607,831 | ||||
| Total assets less current liabilines | 9,630,232 | 10,512,227 | ||||
| Creditors: falling due after one year | 10 | (3,000) | (75,000) | |||
| TOTAL NET ASSETS | 9,627,232 | 10,437,227 | ||||
| THE FUNDS OF THE CHARITY | ||||||
| Unrestricted Funds |
12 | 9,627,232 | 10,437,227 | |||
| The accounts on pages 9to 17were approved | by the Trustees | on | ~3.Q /vQ |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Note | Total | Total | ||||
| Net cash used in operating | activities | 13 | (581,783) | 985,170 | ||
| Cash flows from investing | activities: | |||||
| Interest and dividends | 115,704 | 87,814 | ||||
| Net (purchase)/sale ofinvestments |
41,286 | (511,151) | ||||
| Net cash provided by investing |
activities | 156,990 | (423,337) | |||
| Change in cash and cash equivalents |
in the year | (424,793) | 561,833 | |||
| Cash and cash equivalents | at the | beginning | ||||
| ofthe reporting period |
690,300 | 128,467 | ||||
| Cash and cash equivalents | at the | |||||
| end ofthe reporting period |
265,507 | 690,300 |
| INVESTMENT INCOME | Total | ||
|---|---|---|---|
| Year ended 5th April 2023 | Non-UK | 2023 | |
| Equities | 6,769 | 18,370 | 25,139 |
| Fixed interest | 39,873 | 42,425 | 82,298 |
| Interest &om stockbroker | 8,267 | 8,267 | |
| 54,909 | 60,795 | 115,704 | |
| INVESTMENT INCOME | 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 from stockbroker | 36 | 36 | |
| 54,255 | 33,559 | 87,814 |
| CHARITABLE ACTIVITIES | CHARITABLE ACTIVITIES | CHARITABLE ACTIVITIES | Support and | |||||
|---|---|---|---|---|---|---|---|---|
| Year ended 5th April | 2023 | Charitable | Governance | Total | ||||
| Activities | Costs | 2023 | ||||||
| f, | f, | |||||||
| Donations (note 4) |
429,761 | 429,761 | ||||||
| Staff costs (note 6) | 40,519 | 40,519 | ||||||
| Stationery costs | 270 | 270 | ||||||
| Bank charges | 455 | 455 | ||||||
| Bookkeeping and payroll |
4,347 | 4,347 | ||||||
| Audit and accountancy | fees | 4,116 | 4, 116 | |||||
| 429,761 | 49,707 | 479,468 | ||||||
| CHARITABLE ACTIVITIES | Support and | |||||||
| Year ended 5th April | 2022 | Charitable | Governance | Total | ||||
| Activities | Costs | 2022 | ||||||
| I | ||||||||
| Donations (note 4) |
583,380 | 583,380 | ||||||
| Stafi'costs (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 DONATIONS | PAYABLE | 2023 | 2022 | |||||
| Total cash donations | paid during | the | year (see page 18) | 514,615 | 451,463 | |||
| Donations paid during |
the year that were included | in the previous | ||||||
| year's provisions | (122,917) | (41,000) | ||||||
| Total net current year | cash donations | paid | 391,698 | 410,463 | ||||
| Additional donations |
committed | to be paid within | one year | 35,063 | 97,917 | |||
| Additional donations |
committed | to be paid alter one year | 3,000 | 75,000 | ||||
| Total donations charged to the Unrestricted Income Account |
429,761 | 583,380 | ||||||
| NET INCOME/(EXPENDITURE) | FOR THE | YEAR | 2023 | 2022 | ||||
| The net deficit for the | year is arrived | at afier charging: | ||||||
| Audit fee | 2,230 | 2,030 | ||||||
| Fees paid to Auditors | for other services | 6,233 | 5,896 |
| STAFF COSTS AND REMUNERATION | OF KEYMANAGEMENT | PERSONNEL | |
|---|---|---|---|
| 2023 | 2022 | ||
| Salaries and wages | 55,000 | 55,000 | |
| Social security costs | 1,669 | 2,369 | |
| Pension costs | 3,850 | 3,850 | |
| Less: Cost contributions | (20,000) | (20,000) | |
| 40,519 | 41,219 |
| INVESTMENTS | 2023 | 2022 | |
|---|---|---|---|
| Market value at 6th April 2022 | 9,904,396 | 8,865,711 | |
| Additions | 2,036,470 | 2,716,249 | |
| Disposals | (2,077,756) | (2,205,098) | |
| Net unrealised gains/(losses) |
(308,777) | 427227 | |
| Net realised gains/(losses) | (107,127) | 100,307 | |
| Market value at 5th April 2023 | 9,447,206 | 9,904,396 | |
| Historical cost at 5th April 2023 | 8,767,760 | 8,781,936 | |
| Investments at fair value comprise: |
Total | ||
| Year ended 5th April 2023 | Non UK | 2023 | |
| 8 | f, | ||
| Equities | 2,549,460 | 5,721,039 | 8,270,499 |
| Fixed interest | 313,731 | 862,976 | 1,176,707 |
| 2,863,191 | 6,584,015 | 9,447,206 | |
| Investments at fair value comprise; |
Total | ||
| Year ended 5th April 2022 | Non UK | 2022 | |
| Equities | 3,210,585 | 5,916,727 | 9,127,312 |
| Fixed interest | 253,883 | 523,201 | 777,084 |
| 3,464,468 | 6,439,928 | 9,904,396 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| f, | |||||
| Bank accounts | 64,359 | 110,094 | |||
| Fund managers' | accounts | 201,148 | 580,206 | ||
| 265,507 | 690,300 | ||||
| DEBTORS AND PREPAYMENTS | 2023 | 2022 | |||
| (All due within | one year) | f | |||
| Prepayments and accrued income |
33,950 | 46,500 | |||
| CREDITORS | 2023 | 2022 | |||
| Due within | Due after | Due within | Due after | ||
| one year | one year | one year | one year | ||
| f, | |||||
| Charitable donations |
110,063 | 3,000 | 122,917 | 75,000 | |
| Accruals | 4,751 | 4,400 | |||
| Social security | and pension | 1,617 | 1,652 | ||
| 116,431 | 3,000 | 128,969 | 75,000 |
| In 2022 a donation off1,559,376 was also received from Dr K | Gavron for the sale ofa property. | |
|---|---|---|
| ANALYSIS OF CHARITABLE FUNDS | 2023 | 2022 |
| Unrestricted | Unrestricted | |
| General | General | |
| Balance b/fwd 6 April 2022 | 10,437,227 | 8,926,537 |
| Income | 115,704 | 1,647,190 |
| Expenditure | (509,795) | (664,034) |
| (Losses)/gains on investments |
(415,904) | 527,534 |
| Balance c/fwd 5 April 2023 | 9,627,232 | 10,437,227 |
| ACTIVITIES | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| I | ||||
| Net movement | in funds | (809,995) | 1,510,690 | |
| Adjustments for: |
||||
| Dividends and |
interest (rom investments | (115,704) | (87,814) | |
| Losses/(gains) | on investments | 415,904 | (527,534) | |
| Decrease/(increase) | in debtors | 12,550 | (42,297) | |
| (Decrease)/(increase) | in creditors | (84,538) | 132,125 | |
| (581,783) | 985,170 |
| SCHEDULE OF CAS | H CHA | RITABLE DONATIONS OF f3,000 AND ABOVE |
|
|---|---|---|---|
| 999Club | 3,000 | ||
| Ab Pbab | 3,039 | ||
| Angling 4 Success | 3,000 | ||
| Apollo Music Projects | 3,000 | ||
| Arab Israel Children's | Tennis | Charity (Freddie Krivine Foundation) | 42,705 |
| Arnott Cato Foundation | 8,121 | ||
| Arts at the Old Fire Station | 3,000 | ||
| BalletBoyz | 25,000 | ||
| Barbados Cricket Association | 47,600 | ||
| Communigrow | 3,000 | ||
| DentAid | 5,000 | ||
| Farms for City Children | 5,000 | ||
| Families United Network | 5,000 | ||
| Food Cycle | 5,000 | ||
| Foodbank Aid | 3,000 | ||
| Future Frontiers | 5,000 | ||
| Giving World | 3,000 | ||
| Heart N Soul | 5,000 | ||
| Highgate International |
Chamber Music Festival | 10,000 | |
| House ofIllustration | 50,000 | ||
| Imperial Health Charity | 67,500 | ||
| Imperial War Museum | 20,000 | ||
| Jewish University Chaplaincy |
5,000 | ||
| John Abbey - Medical | Aid to | the Ukraine | 3,000 |
| Key 4 Life | 5,000 | ||
| Leonard Sainer Legal | Education Foundation | 5,000 | |
| Morpeth Scbool | 60,000 | ||
| New Bridge | 4,000 | ||
| Open Democracy | 25,000 | ||
| Orchid | 5,000 | ||
| Prisoners Advice Service | 5,000 | ||
| Rada | 3,000 | ||
| Ragged School Museum | 5,000 | ||
| REACT | 5,000 | ||
| Respite Association | 5,000 | ||
| SJNoble Trust | 3,000 | ||
| The Longford Trust | 3,000 | ||
| The Sofa Project | 5,000 | ||
| The Trussell Trust | 15,000 | ||
| Youth &Community | Connections | 15,000 | |
| Total ofall donations | less than f3,000 | 13,650 | |
| Total donations made |
during | the year (note 4) | 514,615 |