| Ms C Berman | |||||
|---|---|---|---|---|---|
| Mr A Faux | |||||
| Mr G Goldkorn | |||||
| Mr A Sorkin | |||||
| Mrs A Sorkin | |||||
| Mr J Sorkin | |||||
| Mr BGoldkorn | |||||
| Ms N Shoffman | |||||
| 288293 | |||||
| The Kennedy | Leigh | Charitable | Trust office | ||
| 833 Finchley Road | |||||
| London | |||||
| United Kingdom |
|||||
| NW11 BLX | |||||
| Grunberg &Co Limited |
|||||
| 5Technology | Park | ||||
| Colindeep Lane |
|||||
| Colindale | |||||
| London | |||||
| United Kingdom |
|||||
| NW9 6BX | |||||
| SG Kleinwort Hambros |
Bank Limited | ||||
| Canary Wharf | |||||
| London | |||||
| E144SG | |||||
| Geoffrey Goldkorn | Stokoe Partnership | Solicitors | |||
| 2nd Floor | |||||
| 1-3Staple inn | |||||
| London | |||||
| Wcjv 7QH | |||||
| Schroder Ik Co Ltd |
|||||
| 1London Wall | Place | ||||
| London | |||||
| EC2Y SAU | |||||
| Veritas Investment | Partners | ||||
| Riverside I-louse 2A |
Southwark | Bridge | Road | ||
| London | |||||
| SE19HA | |||||
| Sarasin and Partners | |||||
| 1IIOSt 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 | ||||||||
| 2023 | 2023 | 2023 | 2022 | 2022 | 2022 | ||||
| Notes | 6 | 6 | 6 | 6 | 6 | 6 | |||
| Income from: | |||||||||
| investments | 495,244 | 495,244 | 482,553 | 482,553 | |||||
| RR dl |
|||||||||
| Raising funds | 4 | 42,481 | 42,481 | 39,814 | 39,814 | ||||
| Charitable activities |
6 | 406,747 | 406,747 | 374,512 | 374,512 | ||||
| Total expenditure | 449,228 | 449,228 | 414,326 | 414,326 | |||||
| Net gains/(losses) | on | ||||||||
| investments | 10 | (1,525,408) | (1,525,408) | 1,096,335 | 1,096,335 | ||||
| Net (outgoing)/incoming | |||||||||
| resources before | transfers | (1,479,392) | (1,479,392) | 1,164,562 | 1,164,562 | ||||
| Gross transfers | |||||||||
| between funds |
(244,500) | 244,500 | (135,150) | 135,150 | |||||
| Net movement | in | funds | (1,723,892) | 244,500 | (1,479,392) | 1,029,412 | 135,150 | 1,164,562 | |
| Fund balances | at | 1April | 2022 | 25,028,002 | 416,750 | 25,444,752 | 23,998,590 | 281,600 | 24,280,190 |
| Fund balances | at | 31March | |||||||
| 2023 | 23,304,110 | 661,250 | 23,965,360 | 25,028,002 | 416,750 | 25,444,752 |
| 2023 | 2022 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Notes | f | |||||||||
| Fixed assets | ||||||||||
| Tangible assets | 12 | 434 | 579 | |||||||
| Investment | property | 13 | 3,730,000 | 4,235,000 | ||||||
| Investments | 14 | 18,986,798 | 19,959,441 | |||||||
| 22,717,232 | 24,195,020 | |||||||||
| Current assets | ||||||||||
| Debtors | 15 | 21,294 | 53,141 | |||||||
| Investments | 16 | 13,609 | 89,703 | |||||||
| Cash at bank | and in | hand | 1,242,817 | 1,132,718 | ||||||
| 1,277,720 | 1,275,562 | |||||||||
| Creditors: amounts | falling due | within one | ||||||||
| year | 17 | (29,592) | (25,830) | |||||||
| Net current | assets | 1,248,128 | 1,249,732 | |||||||
| Total assets | less current | liabilities | 23,965,360 | 25,444,752 | ||||||
| Income funds | ||||||||||
| Unrestricted | funds | - designated | funds | 19 | 661,250 | 416,750 | ||||
| Unrestricted | funds | —general | 23,304,110 | 25,028,002 | ||||||
| 23,965,360 | 25,444,752 | |||||||||
| The financial | statements | were | approved | by the Trustees | on 18January 2024 | |||||
| Mr J Sorkin | Mr 8 Goldkorn | |||||||||
| Trustee | Trustee |
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| general | general | ||
| 2023 | 2022 | ||
| 6 | |||
| Rental | income | 58,842 | 58,801 |
| Income | from listed investments | 421,221 | 420,337 |
| Interest | receivable | 15,181 | 3,415 |
| 495,244 | 482,553 |
| 4 | Raising funds | Raising funds | |||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Unrestricted | ||||||
| funds | funds | ||||||
| general | general | ||||||
| 2023 | 2022 | ||||||
| T~Ch | |||||||
| Other | trading | activities | 9,020 | 4,676 | |||
| investme t mana |
ament | 33,461 | 35,138 | ||||
| 42,481 | 39,814 | ||||||
| 5 | Charitable activities |
||||||
| 2023 | 2022 | ||||||
| 6 | 6 | ||||||
| Consultancy fees |
18,017 | 19,381 | |||||
| Grant | funding | of | activities (see note 6) | 334,846 | 316,340 | ||
| Share | ofsupport | costs (see note 7) | 33,187 | 26,470 | |||
| Share | of governance | costs (see note 7) | 20,697 | 16,321 | |||
| 374,512 | |||||||
| 6 | Grants payable | ||||||
| 2023 | 2022 | ||||||
| 6 | 6 | ||||||
| Grants | to institutions | (21grants): | |||||
| Total charitable | donation | 334,846 | 316,340 |
| Support costs | ||||||
|---|---|---|---|---|---|---|
| Support costs | Governance | 2023 | Support costs | Governance | 2022 | |
| costs | costs | |||||
| Staff costs | 17,821 | 17,821 | 18,353 | 18,353 | ||
| Depreciation | 145 | 145 | 193 | 193 | ||
| Office overheads | 1,308 | 1,308 | 4,158 | 4,158 | ||
| Rent | 9,198 | 9,198 | ||||
| Storage | 2,003 | 2,003 | ||||
| Other expenses | 2,712 | 2,712 | 3,766 | 3,766 | ||
| Audit fees | 20,203 | 20,203 | 15,845 | 15,845 | ||
| Accountancy | 494 | 494 | 476 | 476 | ||
| 33,187 | 20,697 | 53,884 | 26,470 | 16,321 | 42,791 | |
| Analysed between |
||||||
| Charitable activities |
33,187 | 20,697 | 53,884 | 26,470 | 16,321 | 42,791 |
| The average | monthly number ofemployees during the ye |
ar was: | |
|---|---|---|---|
| 2023 | 2022 | ||
| Number | Number | ||
| Employment | costs | 2023 | 2022 |
| f | f | ||
| Wages and salaries | 16,461 | 18,000 | |
| Other pension costs | 1,360 | 353 | |
| 17,821 | 18,353 |
| Unrestricted | Unrestricted | |||||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| general | general | |||||
| 2023 | 2022 | |||||
| 6 | 6 | |||||
| Revaluation | of | investments | (1,094,144) | 956,784 | ||
| Gain/(loss) | on | sale of investments | 10,925 | (59,101) | ||
| Revaluation | of | investment | properties | (505,000) | 205,000 | |
| Gain/(loss) | on | sale of investment | properties | 62,811 | (6,348) | |
| (1,525,408) | 1,096,335 |
| Tangible fixe | d assets | ||
|---|---|---|---|
| computers | |||
| 6 | |||
| Cost | |||
| At 1April 2022 | 4,143 | ||
| At 31March | 2023 | 4,143 | |
| Depreciation | and impairment | ||
| At 1April 2022 | 3,564 | ||
| Depreciation | charged | in the year | 145 |
| At 31March | 2023 | 3,709 | |
| Carrying amount | |||
| At 31March | 2023 | 434 | |
| At 31March | 2022 | 579 |
| 13 | Investment property |
||
|---|---|---|---|
| 2023 | |||
| 6 | |||
| Fair value | |||
| At 1April 2022 | 4,235,000 | ||
| iyet gains or losses through | fair value adjustments | (505,000) | |
| At 31March 2023 | 3,730,000 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| f | 6 | ||||
| Freehold | 3,730,000 | 4,235,000 | |||
| 14 | Fixed asset investments | ||||
| Listed | Investments | ||||
| 6 | |||||
| Cost or valuation | |||||
| At 1April 2022 | 19,959,441 | ||||
| Additions | 259,757 | ||||
| Valuation changes |
(1,088,730) | ||||
| Disposals | (143,670) | ||||
| At 31March 2023 | 18,986,798 | ||||
| Carrying amount | |||||
| At 31March 2023 | 18,986,798 | ||||
| At 31March 2022 | 19,959,441 | ||||
| Listed investments | included | above: | 2023 | 2022 | |
| 6 | 6 | ||||
| Listed investments | carrying | amount | 18,986,798 | 19,959,441 |
| 15 | Debtors | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||||||
| Amounts falling due |
within one year: | E | E | ||||||||
| Other debtors | 21,294 | 53,141 | |||||||||
| 16 | Current asset investments | ||||||||||
| 2023 | 2022 | ||||||||||
| E | E | ||||||||||
| Unlisted investments |
13,609 | 89,703 | |||||||||
| Current asset investments | comprise | ofcash held in investment | portfolios. | ||||||||
| 17 | Creditors: amounts falling |
due within one year | |||||||||
| 2023 | 2022 | ||||||||||
| E | E | ||||||||||
| Other taxation and social security |
291 | 329 | |||||||||
| Accruals and deferred | income | 29,301 | 25,501 | ||||||||
| 29,592 | 25,830 | ||||||||||
| 18 | Operating lease commitments |
||||||||||
| At the reporting end |
date the Trust had outstanding | commitments | for future | minimum | lease payments | under | non- | ||||
| cancellable operating |
leases, which | fall due as follows: |
| 2023 | 2022 | |
|---|---|---|
| E | E | |
| Within one year | 13,140 | |
| Between two and five years | 17,520 | |
| 30,660 |
| Movement | Movement | in funds | ||||||
|---|---|---|---|---|---|---|---|---|
| Beneralfunds | Oeslgnated | Fair value | Balance at | Balance at | ||||
| funds | reserve | 31March 2023 | 1Aprg 2022 | |||||
| 6 | ||||||||
| Balance at | 1April | 2022 | 19,618,377 | 416,750 | 5,409,626 | 25,444,752 | 24,280,190 | |
| Income | 495,244 | 495,244 | 482,553 | |||||
| Expenditure | (451,017) | (451,017) | (414,326) | |||||
| Transfer between | funds | (244,500) | 244,500 | |||||
| On investment disposals |
10,925 | 10,925 | (59,101) | |||||
| Quoted investments | (721,457) | (372,686) | (1,094,143) | 956,784 | ||||
| Foreign currency | 62,811 | 62,811 | (6,348) | |||||
| Investment | property | (505,000) | (505,000) | 205,000 | ||||
| 18,770,383 | 661,250 | 4,531,940 | 23,963,572 | 25,444,752 |