Charity Numlxr.. 286525
The Ofenheim Charitable Trust
(Under De¢d Dated 2 February 1983)
FINANCIAL STATEMENTS
for the year ended 31 March 2021

The Ofenheim Charitable Trust
CONTENTS
Page
Legal and &dministraiive infornialion
Trustee5' Rewrt
Independeni Auditors. Report and opinion
Statement of Financial Activities
Balance Sheet
10
Statement of Cash Flows
Notes forming part of the Financial Statements
12-19

The Ofenheim Charithble Trust
LEGAL AND ADMINISTRATIVE INFORMATION
for the y¢ar ended 31 March 2021
OBJCCTS
The fom)al objects are detailed in th¢ TrLTrSI Deed dated 2 february 1983.
TRUSTEES
Roger Jackson Clark
Rory MrL¢od
Triona Caroline Byrd
Altxander Sitnon Clark
Chartered Accountant
Retith Sio¢kbroker
Busincss Dcvclopmeni Manager
Uniwersily Lecturer and Researcher
PRINCIPAL OFFICE
RSM UK T&¥ and Accounting Limil¢d
The Pinnacle
170 Midsumm¢r Boul¢vaTd
Milton Keyn¢5
MK9 IBP
STATUTORY AUDITORS
Myers Clark
Chanered Accountsnts and Ststutory Auditor
EgaJ¢ I
80 Si Albans Road
Watford
Herts
WD17 IDL
BANKERS
Naiwesi Bank PIC
I Princes Sire¢i
London
EC2R 8PA
INVESTMENT MANAGERS
Brewin Dolphin
12 Srnithfi¢ld Sireel
Lond¢n
ECIA 9BD
CHARITY REGISTFRF.DNUMBER
286525

The Ofenheim Charitable Trust
TRUSTEES, REPORT
for the year ended 31 March 2021
The Trusiees present (heir report along with the financial 5tatcrnents of the charity for ihe year ended 31 March
2021. "lThe financial slatement5 have been prepared in accordance with ihe accounting FN)lici¢s set out on page 12
and 13 and comply with the eharity's trust dE¢d, tht Charities Act 201 1 2nd the Accounting and Reporting by
Chariiie5." Siatemertt of R¢tomm¢nded Practic¢ applitabl¥ to charitlES pr¢paring thrir dttvunis in accordanc¢
wilh ih¢ Finan¢ial Rep)rting Standard applicable in the UK and Republic of Ir¢land IFRS1021.
STRUCTURE. GOVERNANCE AND MANAGEMFNT
Th¢ Ofenh¢iTn Charitable Trust Is a r¢8151¢red tharityy registration nutnbrr 286525. It W25 sei up by thr founder.
Dr Angela Ofenheirn, by a deed dated 2 February 1983. The d¢ed gives ihe Irusttts Ihe obligation io disiribute
the income and the ptswer to distribu¢¢ the capitsl to any charitable objeci or io any chariiabl¢ purpose al Ih¢ir
discretion. The trustees receive no remuneration for their work and ihe Tnjst is reliant on their continued
support.
CIIARITABI.E STRIICTIJRI.
The power or￿p￿intIng n¢w Trustees is vested in Iht ¢xisting trusi¢es.
The Truste¢s have nts office; accountancy and other service5 are provided by thEir accountants RSM UK 'I'ax
and Accounting Limited.
Nw TtU$￿ are provided with information from the Charities Commission in r¢8ard to their dutie5 as Trusi¢¢s.
Tnjstees arr kcp( informed of any regulatory upjatrs as and when required in the fomi of circulation of
information from the ChariLy Cornrnis5ion or third party advisors. Additional trdining is provided if needed on an
ad-hoc basis.
OBJLcfivLS AND ACTIVITILS
The only activity of th¢ tru51 15 to disLribute lis incomE to d¢5¢TvinB caus¢s. Its obj¢ctiv¢ is to find suitablr
Charities tu re¢Eive ihis in¢om¢ particularly charities that support the care and welfare of th¢ elderly and
Childrtn, run hospitrs, protnote rnedi¢al ￿sEarch, musie. ¢ducation and ihe arts and preserv¢ wildlife. The
trust¢¢s are particularly int¢rested in small charities that meti their 8eneral parameters and of which they have
particularand clos¢ knowledg¥", also in causes relatin8 to E&st Sussex whtJe th¢ Found¢r was resident.
AC'HIF.VEMENTS AND PERFORMANCF.
In the last twelve years ihe imst has awarded grants tovdlling more than £5 million. A list of the 72 12020.. 711
granis tnadr durin8 thr year iotalling £514,000 12020.. £499,500) is giv￿ on pages 17-18. These organisations
have be¢n asked to report back so ihat Ih¥ir ¢ffectiveness can be assess¥d and luiur¢ gfdnt-making infomied.
FIN,ANCIAI. REVIEW AN'D INVESTMEN'F POLICY
l-h¥ financial activiiies for the y¢ar are detailed on pa8e 9. The intome d¢cr¢ased by 5Y• w £492.080 fr¢)m
£515,470 in the year 10 31 March 2020. Reserves carried forward are £l8.192,15212020.. £14,231,226).
The 'ftU51 is eniirely depend¢nt on thy retums trom its investment wrtfolio and dor5 not engage in any
fundr2ising atlivities. The invtstmeni policy Is and always has been to maintain a reasonablc balance between
irtCOTne and capi￿1 and to accept a moderate dtgree OF risk and ihe mandate gifven to the Investrnent managers
reflects ihis policy. Puformanc¢ is m¢asur¢d againsi a sp¢cially constrncicd b¢nchmark of UK fix¢d int¢resL
209¢,. overseas fixed interest 50/0 UK ¢quit)es 51.50/0,. ov¢r5eas equities 17.5010,. property 3.50/0 cash 2.5Vo.
Th¢ owerall time-weightsd rate of reiurn on the fijnd for Ihe year was 32.8% compared with the benchmark of
19.90/0 mainly ivaus¢ th¢ fund was underw¢i8hL in knnd5. "Fhi5 compares with th¢ 24% avera8¢ r¢turn shown by
ARC Consultsnts on the "steady growih. portfoltos that they monitor and 25.3Yo shown by th¢ Teknomelry CIG
Charity Fund Universe.
Due lo thE Covid-19 pandernic, Ihe market wa5 very at 31 March 2020, since then il has recovered strongly
and the value of the ¢apital fund increased from £13.871,234 tts £17,880.885, more than rnaking up the reduction
in the previou5 y¢ar.

The Ofenheim Charitable Trust
TRUSTEES, REPORT
for the year ended 31 March 2021
PI.ANS FOR TFIF FUTURE
The TruS￿£S have no plans w change their strategy. They will consider all applicaiions for gr￿ts and make awards
as they See fit.
The airn of th¢ Trus￿eS for the next year is to ¢onLinue makin8 donations th warious charities. The Tru51ees have
considered the EK)tential irnpacl of Covid-19 on the charity's ability to eontinue as a going eoncern and are
comfortable Ihai iht tharity can conlinue as a goin8 concern unaffected by the worldwide pandemic. il ne¢e5sary by
reducin8 OUt8oin8 8rants to chariiie5.
RF.SERVF.S POLICY
As sta*d previously il is Lhe trusiees, w)licy to distribute all income and they do not consider il nece￿ary to rnaintain
any tncome reserves as such. It is their policy LO maintain the Capital Fund (referred to as Endowrnent Fund in ihe5e
accounts) in order to generate income for donaiions. bui oiherwise not to mainlain any capital Teserves.
At 31 March 2021 Ihe trust's unrestricicd funds wcre £18.192,152 12020.. £14231,2261. ofihi5 arnount £17,831,977
{2020.. £13,817,496) can only be reali5e4J b) disposing of managed invesiments. The I'ru51ees continue to moniloT the
level of reserves.
GRANT MAKING POLICY
The Trusiecs, wlicy has been to provide re8ular support for a nurnber of charities and to restMTrnd to one-off appeals
to bodies where they have some knowledge. It continue5 tts be their rrt>li¢y to support Charities irt bast Sussex bttause
of the foundeffs &ssociation with thai area.
Thc objective that the Tru51ee5 have alway5 set them5elve5 is to give away th¢ in¢ome of the charity PTompily to
Organisations who will make good use of the rnoney and who need it. In de¢idin8 whith ¢hariiies to benefit the
Trustees favour causes ¢0 which they ihink the lounder would have ivn favouTablt. The list of charitits which have
benefitted and the faa thai ihere is only a few months, incotne in hand give the TTUStees 8rourtds for believin8 thal
Ihey have achieved ihese objectives. The Trus￿e$ h2ve tonsidered the impact of Covid-19 on the charity and have
concluded IhaL as the pritnary aciivily ofthe charity IS grani rnakin& the chariiy can reduce Ihe number of grant5 if
income levels were 10 12Jl or ￿ keep reserves at a suitable level.
PUBLIC BENEFIT
The principal aciivities of the Trust exist for public benefJL
The Trustees confimi thai. to Ihe best of Iheir knowledge and belief. Ihey have Compli￿ with 8uidance Publish￿ by
the Charity Cornmission with respect to having due rcgatd lo public benefiL
GOING CONCERN
The I'rustees are not aware of any maieri21 unccrtainiies related to events or conditions that may cast Sl8nificant
doubt atx)ul the 2bility of the chaTlty to continue a5 a 80in8 concern and have a reasonable txpectaiion that the
charity has adequate resources to coniinue in operdiional existence for the foreseeable future. In parti¢ul¥. the
Trusiees have o)nsidered the impacL of Covid-19 on the charity and have concluded that, as thr primary activlty of
the eharity Is grant making. the charity can reduce ihc number of grants if income levels were to fall or to kttp
serves ai a suitable lewel. In the view of the Trustees. the chaTlty ha5 Sufficient re5erve5 to continue in operation for
at leasi twelve months after the approval of the financtal staiements. Thus they continue to a<k>pt the goin8 ¢on¢em
ba51s of accountin8 In PTeparin8 ihe annual financial staiements.
PRINCIPAI, RISKS ANf) UNCERTANCIFS
The major risk io which the trust is subje¢i, like any oiher investor, is the risk thai investments wll noi do well. The
trustees guard ag2inst this Tisk by hawing 2 widely diversified equity portfolio and by havin8 a proportion of the funds
in UK Govemmeni and other fixed ineome securiiies. Investment risk is mitigated by retainin8 experl investrntnt
managers and appropriately experienced Trustees as well as havin8 diversified portfolios.

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INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE OFENHEIM
CIIARITABLE TRUST
for the year ended 31 March 2021
Opirtion
We have audited the financial st2ternents ofthe Ofenheim Charitable Trust I'the tharity'l for the year ended 31 March
2021 which comprise the statcrnenl of financial activilies. balance shed. statement rash flow5 and noks to the
rinancial Stsl¢rnents. including 518nificanl accounting p)licies. Th¢ financial ryrting framework tha¢ has been applied in
their Preparation 15 applicable law and United Kingdom Accounting Stand&Td& includin8 FRS 102 The Finan¢ial
Rewrting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting
Pr¥ticel.
In our opinion, the finan¢ial staiements..
Give a irue and fair view of the State of the charily's afTairs as at 31 March 2021 and of it5 incomin8
resources and appli¢a¢ion of resources, foT the year then ended.
Ilave been propeTIy PTewed in a¢cordan¢e with lJnited Kingdorn GeneTally Accepted Accountin8 Practice.
and
Have been prepared in accordance with the requirements ofthe Charities Acl 2011.
Basls for opiniort
We conducted our audit in accordance with International Standzrds on Auditing IUKI IISAS {UKI} and applicable law.
Our re5pon51bilitie5 under those standards are further described in the Auditor's responsibilitics for the audit of the
rinancial stai¢rn¢nts s¢clion of our report. We are independent of the charity in accordance with the ethical requirements
thai are relevant to our audit of the financial 5tateTnents in the UK, including the FRC'S Ethical Standard. and we have
fulfilled our other eihical restM)nsibilities in a¢¢ordance with these reqUI￿rnents. We believe that the audit evidence w¢
have obtained is surrtcieni and appropri*¢ tu prokide a basis for our opinion.
Conclusions relatlng to golng toneern
In auditin8 the financial 5tatetnenls. we have ron¢lud¢d that the tru5te¢s' use ofthe 80in8 concern basis of accountin8 in
¢h¢ preparation of the financial staternents is appTopriate.
Based on the work we have perfomled, we have not identified any material uncertainiie5 relating to events or conditions
thaL individually or collectively. may cast Sl8nifJcani doubt on the charity's ability to continue as a going ¢oncern for a
period of at least 12 months from when the financial s¥¢ement5 are authorised for issue.
Our responsibilities and the r¢sponsibilities of the trustees with respect to gotng ¢oncern arc described in the relevant
sections of this report.
Other inforjnation
The other Infomaiion ¢omprise5 ¢h¢ infomiation Includ￿ in the annual reFrt>rt, including the tru5¢ee5' report. other than
the financial statements and our audi¢or's ￿p)rt ihwe()n. The trustees are ￿5￿)nsIble foT the other infortnation contained
within the annual report. Our opinion on th¢ finan¢ial st8￿ments d0¢5 not coveT the other infor5na¢ion and. exce5X to the
extent otherwise eKplicitly stated in OUT re￿￿ we do rtot express èny fomi of assurance ¢on¢lusivn thereon.
Our responsibili(y is io read the other information and, in doin8 so. consider whether the other infomialion is m2terially
inconsisl¢nl with the financial stslemenls or our knowledge obtain¢d in th¢ course of the audit, or otherwise aP￿ar$ to be
materially mi55tated. If we ideniify such material incon515tenci¢s or apparent material misstai¢m¢nts, we are required to
determinc whethu this 8ives rise to a material misstatement in ihe financial sratemeftts themselves. If. tosed on the work
we have ￿rfOrned, we conclude that there is a material misstatement of this other infornation. we are required to report
¢hai fact.
We have nothing to rep)rt in this regard.

INDEPENDF.NT AUDITORS, REPORT TO THE TRUSTEES OF THE OFENIIEIM
CIIARt'I"ABLE TRUST
for the year ended 31 March 202 I
Matter on which we are required to report by exception
In the lighi of the knowledge and underswiding of the ¢harity and its enwirt)nmerti obtained in the ¢ourse of the
alldiL we have rtot ideniified material mi$str￿ments in the trllsw. rewn.
We have nothing to rep)rt in re$peti of the following m2tters in relation to whith the Charities Aci 2011 requires us
to rewrL to you if, irt oyr opinion".
The informatlon 8iven in the rep)rt of the Trustee5 1$ IllCOn5istenl in any material respeci with ihe financial
slatemenL5' or
Sufficient accounting records have not been kepi,. or
The financial swements are noi in agTeemeni with the a￿o￿n11ng r￿rd& or
We have noi r￿e1Ved all ihe infomiaiion and explan&iotts we require for our alldii.
R¢spot)sibllitle5 ofTru5t¢¢s
As explained more fully in the Sthtement of Responsibilities of the Trustee5 set out on page 4. the Trustees are
reswnsible for the preparation ofthe financial statement5 and for being satisfied that they give a true and fair view.
and for siich inlernal cuntiDI as the Tnistees det¢rrnine is ne¢essaTr to enable the prwgration of financial statem¢iits
that are Free from material miss[a￿ntnt. whether due tts frnud or eTftsT.
In PTeparin8 the financial statements. the Trnstees are responsible for assessin8 the chaTity'5 ability to continue as a
going concern. disc105ing, a5 applicable, matters related to going collcern alld using lh¢ going concern basis of
accounting unless the Trustees either intend to liquidate thc Charity or to cease tsperation5, Or have no realistic
ajiemative but io do $0.
Awditor'$ tt$pon$ibilities for th¢ #udit of the fin#ntial $t•t¢m¢nt$
Our objeciives are ￿ obtsin reasonable assurance aboui whether the financial statements as a whole are free fn)m
matrrial misstatemenL, whether due io fraud or error, and to issue an audiLof"5 rep)rt that includes our opinion.
Rea￿nable assurance 15 a high level of &85urance. but is not a guarantee that an audit conducted in accordance with
ISAS IUKI will always detecl a material mi55tatement when it exists.
Misstatements can aris¢ from fraud or e￿or and are considered material if, individually or in the aggregate. they
could reasonably be expected to influence the economic decisions of users tsken on ihe basis of these financial
statements.
ITregulaTities, in¢ludiTtg frdud. are instances of non-thmplian¢e wilh laws and regulations. We design procedures in
line with our re5ponsibilitie5. ou111n￿ above, ￿ det￿l matcrial mi55tatemcnts in re5peci of irrcgularilie5, including
fraLtsJ.'fhe extent to which OUT procedure5 are capable of detecting irregularities. illcluding fraud is detailed below..
The extent ¢0 which the audit was ¢onsidered ¢8￿ble of det¢¢ting irreglllarities including fraud
Irt identifying and assessing ihe risks of materi21 rnisstatemenl in respe¢t tsf iTregularitie5, including fraud and ntsn-
compliance with laws and regulations, we considered the followin8,'
The nature ofthc industry and se¢tor, ¢ontToI environment ansj peTforman¢e'
results of our enquiries tsf Managemeni abtsui iheir tswn identifi¢ation and assessmeni ofthe Tisks tsf irregularities-

INDEPENDENT AUDITORS, REPORT TO THE'FRUSTEES OF THE OFENHEIM
CHARITABLE TRUST
for the year ended 31 March 2021
any matter5 we identified having obtained and review ihe charily's dowmentaiion of their poli¢ies and pro¢edure5
relating to.
identifyin& evaluating and complyin8 with laws and regulation and whether they were aware of any
instances of non-cornplianee.
d¢lecting arld responding io the risks of fraud and whether they have knowledge of any actual, suspea¢d or
alleged fraud.
the internal controls esthblished ￿ mitl8ate risk5 of frdud or non-complianc¢ with laws and regulation4
the matters discuss￿ amon8 the audit engag¢m¢nt team regarding how and where fraud might in ihe financial
statements and any potential indicators of fraud.
A5 2 result of ihe5e procedures, we cortsidered the OPFX)rtunities and incentives that rnay exist within the organisation for
fraud. In ¢ommort with all audits under ISAS IUKI, we are also required to perfomi specific procedures to respond to the
risk of manag¢m¢n¢ override.
W¢ also obtained an undeJ3tanding of Ihe legal and ￿gula￿ry frameworks that the ¢harity operates in. focusing on
prowistons of those laws and regulattons thai had a direct effect on the determination of material amounts and disc105ures
in rhe finan¢iAI staiements.
In addition. we wnsidered provisions of other laws and regulatlOll5 that do not have a direct effeci on the financial
siaiements but ¢0mplian￿ with which may k fundamental to the charity'5 ability to operate or w avoid a M￿ella]
penalty.
Audit r¢sport$e to ri$k$ idtntifi¢d
To address the risk of fraud ihrou8h managernent bias and override of controls, we..
perfornied gnalytical PTocedure5 to identify any unusual or unexpec*d relaiion$hips,'
tested journal entrie5 to identify unusual trdnsactions.,
assess￿ wh¢th¢r judgernents and 8$5umptioll5 mad¢ in d¢iemiining Lhe a¢¢ounting e$iimates were indicative of
potential bia5.' and
inv¢5tigated the rntionale behind significant or unusual transactions.
In ￿sponSe to ihe tysk of irregularities and non-cornpliance with laws and regulaUon5. w¢ designed procedures which
included, but were not limitrd to..
agreeing f1nan¢ial Sta￿mertt disclosures to underlyin8 SUPPQrtin8 docurnentation.
readin8 the rninuLes of rn¢ain8s of those charged governance., and
enquiring of mana8erneni a5 to actual and wt¢ntial litigation and claiTns
There are inhereni limitaiions in our audit procedures described above. The rnore rernoved that law5 and regulations are
from financial irnDsactions, Lh¢ less likely it is thai w¢ would becom¢ aware of non-cornpliance. Auditing standard5 alsy)
limit the audii procedures required to identify. non-eompliance wilh laws and re8ulation5 ￿ enquiry of the diT¢ttors artd
oiher manag¢meni and the irtspeciion of regulatory and legal correspondence, if any.
Material rnissta*ments that ar15e due io frdud can te harder ro de¢e¢t than those that arise frorn error as they may involv¢
d¢lib¢rate concealmen¢ or collusion.
A further descriplion of our responsibilities for th¢ audit ofthe financial staternents is located on the Financial Reporting
Council's website ai.. www.frc.org.uklauditorsrespon5ibilitle5.
This description fomis pan ofour auditor's rerort.

INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES, OF THE OFENHEIM
CHARITABLE I"RUST
for the year ended 5 April 2021
Use of our report
This report is made solely to the charity's irusle¢5, a5 a body, in aCCord￿ce with the Charlties Aci 2011. Our audit work
has been undenaken 50 that we might stale lo ihe Irustee5 those matters we are required ￿ State to Ihetn in an auditor's
and for no oiher purFK>5e. To lh¢ fullesl extent permitid by law, we do no¢ accepl or assume r¢sEK>nsibilily to
anyone other th8D ihe ¢harity'S truste& as a body, foT our audii work, for thi5 reEx>rt. or for the opinions we have fomied.
Mytsfs Cla
Myers Clark (Statutory Auditor)
Egalt I
BO St Alb8ns Road
wa￿Ord
FlertS
WD17 IDL
Dat¢".
31-Jan-2022

The Ofenh¢im Charitable Trust
STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 March 2021
Unrestrieted
Fund
Income
Fund
Note
2(121
Totsl
2020
Total
Endowment
Fund
Income
Investments
Income from UK government securities
In¢ome from UK fixed interest stocks
Income from overseas bonds
Dividends from UK equities
Dividends from overseas equities
Income from global investtnerkts
In¢om¢ from property stocks
In¢om¢ from privaie equity sio¢ks
Bank deposit int¢rest
6.432
38.716
10,639
314.086
59,072
9,860
26,136
27.046
93
6.432
38.716
10,639
314,086
59,072
9,860
26,136
27.046
93
7,309
45.927
9,891
318,342
56,816
11.899
29,341
34.519
1,426
Total income
492,080
492,080
515,470
EXPe￿di1Ure
Raising funds:
Inv¢stment management costs
(69,528)
(69,528)
{79,393)
Charitable activities:
Distributions to charitable Erf)dies
Grants
Support costs
Accountan¢y Charges
Audit fees
Bank ¢harg¢s
Total exlrndiiure
12
{514.OW) (514,0￿)
(499,500)
(22,380)
(22,380)
(4.320)
(4.320)
(75)
(75)
(540,775) (610,303)
(27,539)
(4,200)
(75)
(610,707)
69.528)
Net expenditure aTrd net movement in
fund5 before gains and losses on
invostmeTrt
{69,528)
(48,695) (118,223)
(95,237)
Net Gainsl(Lo$ses) op investments
4,079.149
4,079.149
(1,983,857)
Net movement in funds
4.009,621
(48,695) 3.960,926
(2,079.094)
Re£onciliatioTr of funds
Total funds brought forward at l April
13,871,234
359,992 14.231,226
16.310.320
T￿al funds Carried fon￿rd at 31 March 9
17,880,855
311,297 18,192,152
14,231.226

The Ofenhcim Charitable Trust
BALANCF. SHEET
for the year ended 31 March 2021
Note
2121
Total
2020
Total
Fixed Assets
Investments
17,831,977
13,817.496
Current Assets
Debtors
Cash at bank and in hand
135,219
237,256
372,475
62,852
854,318
917,170
Creditors- amounts falline due within one year
(12,300)
(503,440)
Net current assets
360,175
413,730
Total Net Assets
18,192,152
14,231,226
The funds of the charity:
Unrestricted Funds..
Endowmeni Fund
Income Fund
17.880,855
311.297
13,871,234
359,992
18,192,152
14,231,226
Approved by the Trusiees and authorised for issue and signed on their behalf..
Roger Jackson Clark
. Rory McLeod
Date= 2610112022
The notes on pages 12 10 19 forn part of these fiTHncial statements.
10

The Ofenheim Charitable Trust
STATEMENT OF CASI4 FLOWS
for the year ended 31 March 2021
Note
2021
Total
2020
Total
Operating activities:
Net cash used in operAting activities
13
(1.084.044}
140.536)
Investing activities:
Dividends and interest from invesmients
466.982
526,941
Net ￿$￿ from Investlng a¢Uvl¢tes
466.982
526,941
Change in cash and cash equivalents in the reporting
Feri
1617,062>
486.405
Cash and cash equivalents at l April
854.318
367.913
Cash and ¢￿h equivalents at 31 March
13
237.256
854,318
Relating io..
Bank tAlan¢es included in "cash at bank and in hand"
237.101
368,818
Money held by agents in client money account on behalf of the charity
included in "cash at bar￿ and in hand"
155
485,500
237,256
854,318

The Ofenheim Charitable Trust
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2021
l Aceountlng Policies
{a) General information
The trust 15 an unincorporated charity registered in England and Wales. Th¢ principal office address is
RSM UK T2x and Accounting Limit¢d, The Pinnacle, 170 Midsummer Boulevard, Milton Keyne8,
Bucks. MK9 1 BP.
(b) Basis of accounting
The financial staternents have been prepared under the historical cost eonvention: modified by the
revaluaiion of investments. The financial sla(¢ments have been prepared in a¢cordanc¢ with the
St2teTtt¢nt of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
{FRS 102) <eff￿tIVe January 2019) and the Charities Act 2011.
The account5 {financial statements) have been preparcd to give a 'true and fair, view and have
departed from the Charities (Accounts and Reports) R￿ulationS 2008 only to th¢ ¢xl¢nt r¢quired to
provide a 'tnJe and fair view,. This departure has involved following Accounting and Reporting by
Chariti¢5 preparing their accounts in accordance with the Firwlcial Reporting Standard applicable in
the UK and Republic of Ireland (FRS 1021 issued in October 2019 rnther than the Accounting and
Reporting by Charitie5.' Statement of Re¢omTTJended Prdctice effective from l April 2005 which has
since been withdrnwrt.
The charity constitutes a public benefit entity as defined by FRS 102. Monetary amounts in these
financial stsiements are rounded to the nearesi whole £.
(c) Income
Dividends are rewgnis¢d once the dividend h&s been d¢clared and notification has been received of the
dividend due.
Inveslment incoTne is accounted for in lh¢ pcriod in which th¢ charity is ¢ntitl¢d lo i¢c¢ipt.
(d) Expenditllre
Liabilitie5 are recognised as expenditure as soon as there is a legal or constructivc tsbligation
COTnJnitting the charity to that ¢xp¢ndiluT¢, it is probabl¢ that 5ettlrThent will k r¢quiied and th¢
amount of the obligation can be measured reliably. Expendilure includes any V A T which cannot be
fully re¢overed and is reported as pan of the ¢xpendirur¢ to whi¢h it Telafrs. Granis payable are charged
in the year when the offer is conveyed to the recipient. Expenditure on charitable activities include
thos¢ incurT¢d in the govemance of the charity and ils assets and are primarily associat￿ with
constitutional and statutory requirements. Total govemance costs for the year were £13,420 (2020=
£1 J,200). Expenditure on rdising funds consist entirely of investment management f￿5.
(e) Fixed asset investments
Investments are a forni of basi¢ financial instrument and they are initially recognised at their trdnsaciion
v￿ue and subsequently Measu￿ at their fair value &$ at th¢ balance sheet date using th¢ir closing
quoted market price. 14oldings in listed UK entities, bonds and listed overseas equities and securities
valued ai bid price. The Staiemeni of Financial Activities includes the net gains and losses arising
on revaluation and disposals throughout the year.
The trust does not acquire put options. derivatives or other complex financial instruments.
The main fom) of risk faced by the charity is that of volatility in equity markets and investment markets
due to wider economic conditions, the attitude of investors to investment risk and changes in sentiment
concerning equities and within particular Secto￿ or sub sectors.
12

The Ofenheim Charitable Trust
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2021
l Accounting Polici￿ (continued)
(f) Funds
The Income Fund 15 unrestricted so that the trustees are free to use it for any purpose in lurtheran¢e of
the charitable objects. There are no designated funds. The Endowment Fund represents those assets,
prin¢ipally investsnen4 which are held by the Charity io g¢n¢rate income and the Income Fund
represents the incom¢ on the Endowment Fund. The trustees are obliged to distributs the income and
have power to distribthe Ihe capital.
(g) Going concern
The Trustees are not aware of any material uncertainiies related to events or conditions that may c&sr
signifi¢ant doubt about th¢ ability of th¢ charity to continu¢ as a going concem and have a reasonable
expkctation that the charity has adequate resources to continue in operational exisience for the
fores¢¢abl¢ futur¢. In particular. the Trustees have considered the impact of Covid-19 on the charity
and have concluded that, as the primary activity of the ciwity is grant makin& the charity can reduce
th¢ number of grant5 if income levels were to fall or to keep reserves at a suitable lev¢l, In th¢ view of
the Trustee& the charity has sufficient reserves fo coniinue in operation for at least twelve months
after the approval of the financial statements. Thus they coniinue to adopi ihe going con¢¢rn basis of
accounting in preparing the annual financi21 statements.
(h) Gr¥nts
The trusi made chariiable grants during the year of £514,000 (2020.. £499.500). All grdnts in 2020 and
2021 were payable to institutions.
(i} Financial instruments
Financial instruments are ¢lassifi¢d and account¢d for according to the substance of the contractual
arrangement as financial assets or financial liabilities.
Financial ￿se1S
The trust's financial assets comprises inv¢stments in a managed investment portfolio (refer to
investment accounting policy), Brewn t)olphin capital account, and other debtors.
Other debtors are initially measured at the trdnsaction price less any amounts settled and are
subsequently carried at amortised cost.
Financial liabililie&
Basic financial liabilities comprising of accruals and grants payable are initially m¢asur¢d at
transaction price and subsequently m¢asured at amortised ¢osL being the transaction price less any
amounts s¢ttled.
(i) Critie*l ¥¢eounting estim4tes #nd gssumptions
The trust makes estimates and assumptions concerning the future. The resulting accounting estimates
and assumptions will. by definition, seldoTn equal the related actual results.
The Trust¢es do not consid¢r there to be any estimates and assumptions that have a significant risk of
Ca￿lAg a material adjustment to the caTrying amounts of assets and liabilities within the n¢xt
financial year.
13

The Ofenheim Charitable Trust
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2021
2 Auditor's remuneratitsn
2021
2020
Fees paid ihe to the tn15t's auditors during the year were as follows-
Statutory audit fees
3 Trustee Remuneration
No Trustee ￿e]Ved any reTnuneration or ￿1Mbur5¢[￿ent for iravel exp¢n5es (2020.. £nil). The
Trustees are considered to be the key management personnel of the charity.
No staff were directly employed during the year (2020.. Nil).
4 Tax¥tion
The charity is exempt from tax on income and gains falling within section 466 to 493 of the
Corporation Tax Act 2010, 10 the extent that these are applied to the ¢harilabl¢ objecis.
fj Fixed Asset Investments- M8n8ged Funds
Total
2021
Total
2020
FAIT VAliie.
At l April
Additions at ¢o%t
Disp)sals at canying value
Net gainllloss) on revaluation
13.618,259
1,714,391
(1,442,353)
3.711.977
17,602,274
15,436,232
1.797.940
(1,550,372)
(2,065,541)
l J,618.259
Cash held on invesiment
229.703
199,237
At 31 March
17,831,977
13,817,496
The historical cost of the investments at the year end was £l1,522.829 {2020: £10.924.422).
The Trust's investment5 are Tnanaged by Brewin Dolphin. The investsnents are held in a portfolio
designed to meet the Trusiees, investment policy io maintsn a reasonable balance between income
and capital grO¥￿h and to accept a moderate degree of risk.
The value of the investmenl portfolio analysed by investment holdings is as follows-
Listed securities comprise..
2021
2020
UK government securities
UK fixed inleresi stocks
Overseas bonds
UK equities
Overseas equities
Global investment5
Pmperty
Private equity
345,987
1.492,863
210,243
9,476,955
3.994.290
794.712
660.706
626,518
353.982
1,246.629
178,365
7,138,085
3.130.694
525,518
553,996
490,990
17,602,274
13.618.259
14

The Ofenheim Charitable Trust
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2021
Flxed Asset Investments - Managed Funds {¢ontlnued)
No individual investment is considered material in the context of the investmeni portfolio. Asset
sale5 and purchases a￿ rerognised at the dat¢ of trade at cost (that is their transaction value).
The significance of the financial intruments to the ongoing financial sustainability of the Trust is
considered in the Financial Review and Invesiment Policy section of the Tru5tees' Report.
Debtors
2021
2020
Other debtors
Accrued income
52.129
83,090
135,219
62,852
62.852
Creditors- amounts falling due within one year
2021
2020
Accruals
Gryants payable
12,300
17,940
485,500
12.300
503,440
Analysis of net assets between funds
Endowmertt Income
fund
fllnd
Total
Fixed asset investments
Current assets
Creditors - amounts falling due within one year
17,831,977
48.878
17,831,977
372,475
(12,300)
323.597
(12,3(Kp)
Net assets at 31 March 2021
17,880.855
311,297
18,192.152
ComparAtiv¢ analy$i$ of n¢t gss¢ts between funds
Endowment Income
fund
fund
Total
Fixed asset inveslments
Current assets
Creditors- atnounts falling due within one year
13,817,496
53,738
13,817,496
917.170
(503,440)
863,432
(503,440)
Nel assets at 31 March 2020
13.871.234
359,992
14,231,226
15

The Ofenheim Charitable Trust
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2021
9 Movement in funds
l April 2020
Expenditure
Other gains
JI Mareh 2021
Endowment fund 13,871,234
Income fund
359,992
(69.528)
(540,775)
4,079.149
17,880,855
311,297
492.080
14,231,226
492,080
(610,303)
4,079,149
18.192,152
Comparative movement in funds
April 2019
In¢ome
Expenditllre
Other losses
31 IVAarch 2020
Endowment fund 15,934,484
Income fund
375,836
(79,393)
1531,314)
(1,983,857)
13,871,234
359,992
515,470
16.310,320
515,470
610.707
(1,983,857)
14,231,226
The unrestricted funds aTe available lo be speni for any of ihe purposes of the Charity.
The Endowment Fund represents the assets given to this trust by Dr Angela Ofenheim in her lifeiime
and from her estate including assets transferred from an earlier charitable irust made by her of the same
name. The only restriction on its use is thal it ha5 ￿ be used for charitable purposes.
10 Comparative information for total lunds
2020
2020
2020
Total
Endowment
Income
Income from investments
515,470
515,470
Expenditure on ra15ing funds
Expenditure on charitable a¢iivities
Loss on investments
(79.393)
(79,393}
{531,314)
(1,983,857)
(531,314)
(1,983,857)
Net movement in funds
(2,063,250)
115,8441
(2,079,094)
I l Related party transactions
There have been no related party transactions during the current or prior reporting periods.
16

The Ofenheim Charitable Trust
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2021
12 Grants
2021
2020
Souihem Thailand Elephani Foundation
Barnardo's
Royal Trinity H05pice
Trinily - Laban Con5ervaloire of m￿lC and Dance
Art Fund (previously Naiional Art Collections Fund)
Th¢ Children's So¢iety
Fri¢nds of th¢ Eld¢rly
Help Musicians UK
Macmillan Cancer Support
Marie Curie Cancer Care
National Youth Orchestra of Great Britain
Queen Elizabeth's Foundation
Saini Mungo's
Salvation Am)y Trust
Scope
Stroke Association
The Hepworth Wakefield
St Wilfred5 H05pice Ea5tbourne
Alzheim¢rs R¢soTch Trust
Canine Partners for Independence
Coram Family Su￿1¥8] Pack Appeal
Cnjsaid (Terrdnce Higgins Tnjsl)
Elizabeth Finn Trust
Enham Trust
Firsi Story
Glyndebourne Arts Trust
Gr¢ater London Fund for rhe BIITKI
H¢l¢n and Douglas Ilous¢
King Edward Vll Hospital Sister Agnes
L'Arche
Longford Tntsl
Motor Trkurone Disease Association
Nalional Council of YMCA
National Society for the Prevention of Cruelty to Children
National Tr￿1
National Youih Choirs of Great Britain
Rhythm Studio Foundation
Save ihe Children Fund
Shipston Ilome Nursing
25.000
15,000
15.000
14,000
12,000
12,000
12,000
12,000
12,000
12,(X)O
12.(X)O
12,000
12,000
12,000
12,000
12,000
10,000
10,000
6,500
6,500
6,500
6,500
6.500
6,500
6.500
6,500
6.500
6,5(KJ
6,SIK)
6.500
6,500
6,500
6.500
6,500
6.500
6.500
6,500
6,500
6,500
15,IKJO
15,tK)o
15.(K)O
14,000
12,000
12,000
12,000
12,000
12,000
12,000
12,000
12.000
12,000
12,000
12,000
12,000
10,000
10,000
6,500
6,500
6,500
6.500
6.500
6,500
6.500
6.500
6.500
6,500
6,500
6,500
6,500
6.500
6,500
6,500
6,500
6.500
6,500
6,500
6,500
Balance CIFwd
369,500
359,500
17

The Ofenheim Charitable Trust
NO"fES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2021
12 Grants (Continued)
2021
2020
Balan¢¢ BIFwd
369,500
359,51J)
St Giles Tr￿t
Toynbee Ha]1
Zane
Ability Net
All saints Choir and Musi¢ Trust Fund
All Sainis Margaret Sire
C¢titr¢point (Sohol
College of Si Barnabas
Greenwich, Deptford & R(rtherhithe Sea Cadet Uftit
Holland Park Opcra
Hom¢ Start UK
Hospice Care Kenya
Independent ARe
LongboTough Festival Op¢rd
Mildmay Hospital
Mulliple Sclerosis Naiional Therdpy Centres
PCC Cherington
Prd¢ii¢al Action
Royal College of Mu51C
St Joseph's Pastoral Centre
The Game and Wildlife Conservation Trust
Wallace Collection
WWF (UK)
Bam Owl Trust
Battersea Summer Scheme
Benslow Musi¢ Trusl Instrument Loan Scheme
British Wheelchair Sports FoutKlation
Chaseley Trust
Friends of EastbouTne Hospitals
Koestler Trust
Red squ1￿cl Survival Trust
Sir John Soane'5 Museum
Songbird Survival
6.500
6.500
6,500
4,500
4,500
4,500
4,500
4,500
4.500
4,500
4,500
4,500
4,500
4,500
4.500
4,500
4,500
4,500
4,500
4,500
4.500
4.500
4,500
3,500
3,500
3,500
3,5
3,51K
3.500
3,500
3,500
3,5(K)
3,500
6.500
6.500
6,500
4,5
4,5
4,5
4,5
4,500
4.500
4,500
4,500
4.500
4.500
4,500
4,500
4,5
4,5
4,5
4,500
4,500
4,500
4,500
3,500
3,500
3,500
3,500
3,500
3.5
3,500
3,500
3,500
3,500
514.000
499,500
18

The Ofenhcim Charitable Trust
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2021
13 Reeoncillation of net movement In funds to net cash used in
operations
2021
2020
Net movemeni in funds for the year
Adjustm¢nts for..
(Gainsylosses on investments
Dividends and interest from investments
Investment manager fees
(IncreaseydecTease in debto
{tk¢r¢as¢)lin¢r¢ase in creditors
3,960,926
(2,079,094)
(4,079,149)
{492,080)
69.528
(52,129)
(491,140)
1,983,857
{515,470)
79,393
490.778
Net cash used in operating a¢tivitie5
{1,084,044)
(40,536)
19