##
|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|
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|||||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|
##
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||||||||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||||
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|||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|
##
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|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|
##
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|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|
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||||||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|
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|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|
##
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##
|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|
##
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|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||
##
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||||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|
##