| Trustees | Ms CEBarman | |||||
|---|---|---|---|---|---|---|
| Mr A Faux | ||||||
| Mr G Goldkorn | ||||||
| Mr AM Sorkin | ||||||
| Mrs A Sorkin | ||||||
| Mr JSorkin | ||||||
| Mr 8Goldkorn | ||||||
| Administrator | Ms N Shoffman | |||||
| Charity number | 288293 | |||||
| Principal address | The Kennedy Leigh |
Charitable | Trust office | |||
| 853 Finchley Road | ||||||
| London | ||||||
| United Kingdom |
||||||
| NW11 BLX | ||||||
| Auditor | Grunberg gr Co Limited |
|||||
| 5Technology Park |
||||||
| Colindeep Lane |
||||||
| Colindale | ||||||
| London | ||||||
| United Kingdom | ||||||
| NW9 68X | ||||||
| Bankers | SG Kleinwort Hambros |
Bank | Limited | |||
| 8StJames Square | ||||||
| London | ||||||
| SW1Y4JU | ||||||
| Sogcitors | Goldkorns Solicitors |
|||||
| 25Southampton | Buildings | |||||
| London | ||||||
| WC2A 1AL | ||||||
| Investment | advisors | Schroder 8 Co Ltd | ||||
| 12Moorgate | ||||||
| London | ||||||
| ECZR 6DA | ||||||
| Veritas Investment | Management | |||||
| 90Long Acre | ||||||
| London | ||||||
| WC2E 9RA | ||||||
| Sarasin and Partners | ||||||
| 100St Paul's Churchyard | ||||||
| London | ||||||
| EC4M BBU |
| Page | ||
|---|---|---|
| Trustees' report | 1-6 | |
| Statement ofTrustees' | responsibilities | |
| Independent auditor's |
report | 8-10 |
| Statement offinancial | activities | |
| Statement offinancial | position | 12 |
| Notes to the financial | statements | 13-22 |
| Unrestricted | Unrestricted | Total | Unrestricted | Unrestricted | Total | ||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||||
| general | designated | general | designated | ||||||
| funds | funds | ||||||||
| 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | ||||
| Notes | f | f | f | f | |||||
| Income from: | |||||||||
| investments | 482,553 | 482,553 | 502,521 | 502,521 | |||||
| 4 | |||||||||
| Raising funds | 4 | 39,814 | 39,814 | 57,740 | 57,740 | ||||
| Charitable activities |
5 | 374,512 | 374,512 | 577,614 | 577,614 | ||||
| Total expenditure | 414,326 | 414,326 | 635,354 | 635,354 | |||||
| Net gains/(losses) | on | ||||||||
| investments | 10 | 1,096,335 | 1,096,335 | 2,727,714 | 2,727,714 | ||||
| Net incoming | resources before | ||||||||
| transfers | 1,164,562 | 1,164,562 | 2,594,881 | 2,594,881 | |||||
| Gross transfers | between | ||||||||
| funds | (135,150) | 135,150 | 1,140,387 | (1,140,387) | |||||
| Net movement | in | funds | 1,029,412 | 135,150 | 1,164,562 | 3,735,268 | (1,140,387) | 2,594,881 | |
| Fund balances | at | 1April 2021 | 23,998,590 | 281,600 | 24,280,190 | 20,263,322 | 1,421,987 | 21,685,309 | |
| Fund balances | at | 31March 2022 | 25,028,002 | 416,750 | 25,444,752 | 23,998,590 | 281,600 | 24,280,190 |
| 2022 | 2021 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Notes | ||||||||||||
| Fixed assets | ||||||||||||
| Tangible assets | 11 | 579 | 772 | |||||||||
| Investment | properties | 12 | 4,235,000 | 4,030,000 | ||||||||
| Investments | 13 | 19,959,441 | 18,842,413 | |||||||||
| 24,195,020 | 22,873,185 | |||||||||||
| Current assets | ||||||||||||
| Debtors | 15 | 53,141 | 28,522 | |||||||||
| Investments | 16 | 89,703 | 268,833 | |||||||||
| Cash at bank | and in | hand | 1,132,718 | 1,140,650 | ||||||||
| 1,275,562 | 1,438,005 | |||||||||||
| Creditors: amounts | falling due | within | one | |||||||||
| year | 17 | (25,830) | (31,000) | |||||||||
| Net current | assets | 1,249,732 | 1,407,005 | |||||||||
| Total assets | less current | liabilities | 25,444,752 | 24,280,190 | ||||||||
| Income funds | ||||||||||||
| Unrestricted | funds | —designated | funds | 18 | 416,750 | 281,600 | ||||||
| Unrestricted | funds | —general | 25,028,002 | 23,998,590 | ||||||||
| 25,444,752 | 24,280,190 | |||||||||||
| The financial | statements | were | approved | by the Trustees | on ..&. .. | ,...,fX | 3C2nutctFf | |||||
| Mr | Mr 8 Goldkorn | |||||||||||
| Trustee | Trustee |
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| general | general | ||
| 2022 | 2021 | ||
| f | |||
| Rental | income | 58,801 | 52,687 |
| income | from listed investments | 420,337 | 447,605 |
| Interest | receivable | 3,415 | 2,229 |
| 482,553 | 502,521 | ||
| Raising | funds | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| general | general | ||
| 2022 | 2021 | ||
| 6 |
| 4 | Raising funds | (Continued) | |||
|---|---|---|---|---|---|
| dchd | |||||
| Other trading activities | 4,676 | 19,946 | |||
| Investment man |
ament | 35,138 | 37,794 | ||
| 39,814 | 57,740 | ||||
| 5 | Charitable activities |
||||
| 2022 | 2021 | ||||
| 6 | 6 | ||||
| Consultancy fees |
15,381 | 16,346 | |||
| Grant funding of | activities (see note 6) | 316,340 | 510,612 | ||
| Share ofsupport | costs (see note 7) | 26,470 | 37,872 | ||
| Share ofgovernance | costs (see note 7) | 16,321 | 12,784 | ||
| 374,512 | 577,614 | ||||
| 6 | Grants payable | ||||
| 2022 | 2021 | ||||
| 6 | |||||
| Grants to institutions | (25grants): | ||||
| Total charitable donation |
316,340 | 510,612 |
| Support costs | ||||||
|---|---|---|---|---|---|---|
| Support costs | Governance | 2022 | Support costs | Governance | 2021 | |
| costs | costs | |||||
| f | f | f | E | E | ||
| Staffcosts | 18,353 | 18,353 | 18,423 | 18,423 | ||
| Depreciation | 193 | 193 | 257 | 257 | ||
| Office overheads | 4,158 | 4,158 | 18,088 | 18,088 | ||
| Other expenses | 3,766 | 3,766 | 1,104 | 1,104 | ||
| Audit fees | 15,845 | 15,845 | 12,000 | 12,000 | ||
| Accountancy | 476 | 476 | 784 | 784 | ||
| 26,470 | 16,321 | 42,791 | 37,872 | 12,784 | 50,656 | |
| Analysed between |
||||||
| Charitable activities |
26,470 | 16,321 | 42,791 | 37,872 | 12,784 | 50,656 |
| The average | monthly number of employees during the ye |
ar was: | |
|---|---|---|---|
| 2022 | 2021 | ||
| Number | Number | ||
| Employment | costs | 2022 | 2021 |
| f | f | ||
| Wages and salaries | 18,000 | 18,000 | |
| Other pension costs | 353 | 423 | |
| 18,353 | 18,423 |
| Unrestricted | Unrestricted | |||||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| general | general | |||||
| 2022 | 2021 | |||||
| Revaluation | of investments | 956,784 | 2,640,207 | |||
| Loss on sale | ofinvestments | (59,101) | (26,147) | |||
| Revaluation | of investment | properties | 205,000 | 130,000 | ||
| Loss due to | foreign currency fluctuations | (6,348) | (16,346) | |||
| 1,096,335 | 2,727,714 | |||||
| 11 | Tangible fixed assets | |||||
| computers | ||||||
| 6 | ||||||
| Cost | ||||||
| At 1April 2021 | 4,143 | |||||
| At 31March | 2022 | 4,143 | ||||
| Depreciation | and impairment | |||||
| At 1April 2021 | 3,371 | |||||
| Depreciation | charged | in the year | 193 | |||
| At 31March | 2022 | 3,564 | ||||
| Carrying amount | ||||||
| At 31March | 2022 | 579 | ||||
| At 31March | 2021 | 772 |
| Investment property |
||
|---|---|---|
| 2022 | ||
| 6 | ||
| Fair value | ||
| At 1April 2021 | 4,030,000 | |
| Net gains or losses through | fair value adjustments | 205,000 |
| At 31March 2022 | 4,235,000 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| E | E | ||||||
| Freehold | 4,235,000 | 4,030,000 | |||||
| 13 | Fixed asset investments | ||||||
| Listed | investments | ||||||
| Cost orvaluation | |||||||
| At 1April 2021 | 18,842,413 | ||||||
| Additions | 3,919,169 | ||||||
| Valuation changes |
956,784 | ||||||
| Disposals | (3,758,925) | ||||||
| At 31March 2022 | 19,959,441 | ||||||
| Carrying amount | |||||||
| At 31March 2022 | 19,959,441 | ||||||
| At 31March 2021 | 18,842,413 | ||||||
| Listed investments | included | above: | 2022 | 2021 | |||
| E | E | ||||||
| Listed investments | carrying | amount | 19,959,441 | 18,842,413 | |||
| 14 | Financial instruments |
2022 | 2021 | ||||
| E | E | ||||||
| Carrying amount offinancial | assets | ||||||
| Instruments measured |
at fair value through | profit or loss | 19,959,441 | 18,842,413 |
| 15 | Debtors | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||||
| Amounts | falling due | within one year: | E | E | |||||
| Other debtors | 53,141 | 15,485 | |||||||
| Prepayments | and accrued income | 13,037 | |||||||
| 53,141 | 28,522 | ||||||||
| 16 | Current | asset | investments | ||||||
| 2022 | 2021 | ||||||||
| E | E | ||||||||
| Unlisted | investments | 89,703 | 268,833 | ||||||
| Current | asset | investments comprise ofcash held |
in investment | portfolios. | |||||
| 17 | Creditors: amounts | falling due within one year | |||||||
| 2022 | 2021 | ||||||||
| E | |||||||||
| Other taxation | and | social security | 329 | 390 | |||||
| Accruals | and deferred | income | 25,501 | 30,610 | |||||
| 25,830 | 31,000 |
| Movement | Movement | in funds | ||||||
|---|---|---|---|---|---|---|---|---|
| General fundsoesignated | funds | Fair value | Balance at | Balance at | ||||
| reserve | St March 2022 | 1April 2B21 | ||||||
| E | ||||||||
| Balance at | 1April | 2021 | 19,811,067 | 281,600 | 4,187,524 | 24,280,190 | 21,685,309 | |
| Income | 482,553 | 482,553 | 502,521 | |||||
| Expenditure | (414,326) | (414,326) | (635,354) | |||||
| Transfer between | funds | (135,150) | 135,150 | |||||
| On investment disposals |
(59,101) | (59,101) | (26,147) | |||||
| Quoted investments | (60,318) | 1,017,102 | 956,784 | 2,640,208 | ||||
| Foreign currency | (6,348) | (6,348) | (16,346) | |||||
| Investment | property | 205,000 | 205,000 | 130,000 | ||||
| 19,618,377 | 416,750 | 5,409,626 | 25,444,752 | 24,280,190 |