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|||||Page|
|---|---|---|---|---|
|Reference|and Administrative
Details ofthe Charity,||its Trustees and Advisers||
|Trustees'|Report|||2-5|
|Independent
Auditors'||Report on the Financial Statements||6-9|
|Statement|of Financial|Activities||10|
|Statement|of Financial|Position|||
|Statement|ofCash Flows|||12|
|Notes to the Financial||Statements||13-24|
##
|Trustees||Dr Leonard S Polonsky CBE|Dr Leonard S Polonsky CBE|
|---|---|---|---|
|||Dr Georgette Bennett||
|||Mare A L Polonsky||
|||Hannah
Polonsky|Whitney|
|||Joshua-Mare
Tanenbaum||
|Charity registered||||
|number||291143||
|Principal office||8 Park Crescent||
|||London||
|||W1B 1PG||
|Independent|auditors|Nyman
Libson Paul LLP||
|||Chartered
Accountants||
|||Statutory Auditors||
|||124 Finchley Road||
|||London||
|||NW3 5JS||
|Bankers||Lloyds Bank Plc||
|||39Threadneedle|Street|
|||London||
|||EC2R 8AU||
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|||||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||||||funds|funds|funds|
|||||||2022|2022|2021|
||||||Note||||
|Income from:|||||||||
|Investments||||||420,276|420,276|399,844|
|Other income||||||4,423|4,423||
|Total income||||||424,699|424,699|399,844|
|Expenditure
on:|||||||||
|Charitable
activities||||||493,148|493,148|2,103,941|
|Other expenditure||||||||45,909|
|Total expenditure||||||493,148|493,148|2,149,850|
|Net expenditure|before net (losses)/gains|||on|||||
|investments||||||(68,449)|(68,449)|(1,750,006)|
|Net (losses)/gains||on investments||||(1,298,287)|(1,298,287)|2,548,198|
|Net movement
in||funds||||(1,366,736)|(1,366,736)|798,192|
|Reconciliation
of||funds:|||||||
|Total funds
brought|||forward|||15,998,859|15,998,859|15,200,667|
|Net movement
in|funds|||||(1,366,736)|(1,366,736)|798,192|
|Total funds carried|||forward|||14,632,123|14,632,123|15,998,859|
##
##
||||||2022|2021|
|---|---|---|---|---|---|---|
|Cash flows from operating||activities|||||
|Net cash|used
in operating|activities|||(488,838)|(1,707,128)|
|Cash flows from investing||activities|||||
|Dividends|and interest||||420,276|399,844|
|Proceeds|from sale of investments|||||1,340,583|
|Net cash|provided
by investing
activities||||420,276|1,740,427|
|Change|in cash and cash|equivalents|in|the year|(68,562)|33,299|
|Cash and|cash equivalents|at the beginning||ofthe year|301,533|268,234|
|Cash and cash equivalents||at the end|of|the year|232,971|301,533|
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|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2022|2022|
||||E|
|Dividends|received|420,276|420,276|
|||Unrestricted|Total|
|||funds|funds|
|||2021|2021|
|||E|E|
|Interest received||19,471|19,471|
|Dividends|received|380,373|380,373|
|||399,844|399,844|
##
|Unrestricted|Total|Total|
|---|---|---|
|funds|funds|funds|
|2022|2022|2021|
|E||E|
|4,423|4,423||
##
##
##
||||Grants to|Total|
|---|---|---|---|---|
||||Institutions|funds|
||||2022|2022|
|||||E|
|Grants|to|institutions|415,365|415,365|
||||Grants to|Total|
||||Institutions|funds|
||||2021|2021|
||||E||
|Grants|to|institutions|2,028,430|2,028,430|
##
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|Analysis
ofgrants (cont|inued|)|||
|---|---|---|---|---|
||||2022|2021|
||||E|F|
|Name of institution|||||
|University
of Oxford|||91,212|298,056|
|University
of Cambridge|||84,462|173,382|
|Aspen Music Festival and|School||51,072||
|Consortium
of European|Research||34,762|7,593|
|Classics for All|||27,000|33,000|
|SCTY|||18,000||
|Pushkin
House Trust|||17,200|21,500|
|Foundation
for Jewish Heritage|||14,500||
|Old Vic Trust|||5,000|45,000|
|UCL Development
Fund|||5,000|15,000|
|Stephen Spender|||2,500|12,500|
|Van Leer Institute|||2,183|550,486|
|Friends of Bezalel Academy ofArts||||399,203|
|HUJI - The Hebrew
University||ofJerusalem||90,222|
|Royal College of Music||||70,000|
|The Rhodes Trust||||50,000|
|Am-Is Cultural
Foundation||||40, 122|
|Theatre for a New Audience||||36,654|
|Royal National
Theatre||||35,000|
|Oxford Centre for Jewish|and Hebrew Studies|||28,015|
||||352,891|1,905,733|
|Other grants to institutions|||62,474|122,697|
||||415,365|2,028,430|
##
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|Foreign|exchange|losses|||
|---|---|---|---|---|
||||Unrestricted|Total|
||||funds|funds|
||||2021|2021|
|Foreign|exchange|losses|45,909|45,909|
##
|||Grant|||
|---|---|---|---|---|
|||funding
of|Support|Total|
|||activities|costs|funds|
|||2022|2022|2022|
|Charitable|activities|415,365|77,783|493,148|
|||Grant|||
|||funding
of|Support|Total|
|||activities|costs|funds|
|||2021|2021f|2021|
|Charitable|activities|2,028,430|75,511|2,103,941|
##
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|||Charitable|Total|
|---|---|---|---|
|||activities|funds|
|||2022|2022|
|||E||
|Staff salaries|and pension costs|47,873|47,873|
|Auditors'
remuneration||4,530|4,530|
|Accountancy|fees|9,756|9,756|
|Bank charges||1,329|1,329|
|Secretarial fees||11,244|11,244|
|General oNce expenses||1,323|1,323|
|Consultancy|fees|1,728|1,728|
|||77,783|77,783|
|||Charitable|Total|
|||Activities|funds|
|||2021|2021|
||||E|
|Staff salaries|and pension costs|47,161|47,161|
|Auditors'
remuneration||4,410|4,410|
|Accountancy|fees|8,856|8,856|
|Bank charges||1,710|1,710|
|Secretarial fees||9,754|9,754|
|General office expenses||1,271|1,271|
|Consultancy|fees|2,323|2,323|
|Travel expenses||26|26|
|||75,511|75,511|
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|Auditors'
remuneration|||||
|---|---|---|---|---|
||||2022|2021|
|Fees payable to the charity's
accounts|auditor for the audit ofthe charity's|annual|4,530|4,410|
##
|Staff costs||||||
|---|---|---|---|---|---|
|||||2022|2021|
|||||E|F|
|Wages and|salaries|||45,750|45,000|
|Social security costs||||960|998|
|Contribution|to defined|contribution|pension schemes|1,163|1,163|
|||||47,873|47,161|
|2022|2021|
|---|---|
|No.|No.|
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||Listed|
|---|---|
||investments|
|Cost or valuation||
|At 1 April 2021|15,549,025|
|Revaluations|(1,298,287)|
|At 31 March 2022|14,250,738|
|Net book value||
|At 31 March 2022|14,250,738|
|At 31 March 2021|15,549,025|
##
||2022|2021|
|---|---|---|
||E|E|
|Due within one year|||
|Other debtors|153,859|153,859|
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||||2022|2021|
|---|---|---|---|---|
|Other taxation|and social security||119|119|
|Other creditors|||226|339|
|Accruals and deferred||income|5,100|5,100|
||||5,445|5,558|
##
##
|Stateme|nt o|ffunds - curren|t year|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at 1|||Gains/|31 March|
||||April 2021|Income|Expenditure|(Losses)|2022|
||||F||E|F||
|Unrestricted||funds||||||
|General|Funds - all funds||15,998,859|424,699|(493,148)|(1,298,287)|14,632,123|
##
|Stateme|nt o|ffunds - prior|year|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at|||Gains/|31 March|
||||1 April 2020|Income|Expenditure|(Losses)|2021|
|||||E||E||
|Unrestricted||funds||||||
|General|Funds - all funds||15,200,667|399,844|(2,149,850)|2,548,198|15,998,859|
##
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|||||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||F|
||Net
income/expenditure
for||the|year|(as|per|Statement|of|Financial|||
||Activities)|||||||||(1,366,736)|798,192|
||Adjustments
for:|||||||||||
||Losses/(gains)
on investments|||||||||1,298,287|(2,553,827)|
||Dividends
and interest|||||||||(420,276)|(399,844)|
||Loss on the sale offixed asset investments||||||||||(5,629)|
||Decrease
in debtors||||||||||456,169|
||Decrease
in creditors|||||||||(113)|(2,189)|
||Net cash used in operating||activities|||||||(488,838)|(1,707,128)|
|17.|Analysis ofcash and|cash equivalents||||||||||
|||||||||||2022|2021|
||||||||||||f.|
||Cash at bank|||||||||232,971|301,533|
||Total cash and cash|equivalents||||||||232,971|301,533|
|18.|Analysis ofchanges|in net debt||||||||||
|||||||At 1 April||At 31 March|
|---|---|---|---|---|---|---|---|---|
|||||||2021|Cash flows|2022|
|||||||||F|
|Cash|at|bank|and|in|hand|301,533|(68,562)|232,971|
##