MAISON DE L’INSTITUT DE FRANCE À LONDRES (Fondation Edmond de Rothschild)
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2024
Charity number: 312897
MAISON DE L'INSTITUT DE FRANCE A LONDRES
(FONDATION EDMOND DE ROTHSCHILD)
YEAR ENDED 31ST MARCH 2024
CONTENTS
Page Reference and administrative details of the charity, its Trustees and Advisers - 1 Report of the Trustees - 2 - 5 Report of the Auditors - 6 - 7 Statement of Financial Activities - 8 Balance Sheet - 9 Notes to the Financial Statements - 10 - 17
Page 1
MAISON DE L'INSTITUT DE FRANCE A LONDRES
(FONDATION EDMOND DE ROTHSCHILD)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
YEAR ENDED 31ST MARCH 2024
TRUSTEES: Mme Beatrice Keighley, Chair Lady Janvrin M Antoine de Navacelle Mme Anne-Marie Gray M Jean-Hugues de Lamaze
CHARITY REGISTERED NUMBER: 312897
PRINCIPAL OFFICE: 8 Queen’s Gate Terrace London SW7 5PF AUDITORS: Newton & Garner Ltd Chartered Accountants Building 2 30 Friern Park North Finchley London N12 9DA BANKERS: CAF Bank Ltd Kings Hill West Malling Kent ME19 4JQ
Page 2
MAISON DE L'INSTITUT DE FRANCE A LONDRES
(FONDATION EDMOND DE ROTHSCHILD)
REPORT OF THE TRUSTEES
YEAR ENDED 31ST MARCH 2024
The Trustees present their annual report together with the audited financial statements of La Maison de l’Institut de France à Londres (Fondation Edmond de Rothschild) (the charity) for the year ended 31st March 2024. The Trustees confirm that the annual report and financial statements of the charity comply with the requirements of the Charities Act 2011, the charity’s trust deed and Accounting and Reporting by Charities: Statement of recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the United Kingdom and Republic of Ireland (FRS 102).
Structure, Governance and Management Constitution
The charity was founded in 1920 by the Institut de France with a gift from the Baron Edmond de Rothschild. It is constituted under a Charity Commission Scheme dated 21st June 1951 as amended on 2nd January 1985, and is registered charity number 312897.
The principal object of the charity is to provide accommodation for French academics and students who wish to come to London for study or research, thereby fostering cultural, academic and international relations between the two countries. The charity achieves its objectives through publicity in France undertaken by itself and the Institute de France, and by providing a convivial environment at La Maison in London, on a bed and breakfast basis in fourteen rooms.
The income is derived from the investment of the original gift from the Baron, now managed by the Charities Official Investment Fund (COIF), and from contributions from the guests towards the running costs. The charity’s overall objectives remain unchanged.
Method of Appointment or Election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Charity Commission Scheme. Trustees are recruited through networking or their involvement with the Institut de France in Paris.
Prospective candidates are interviewed by the Trustees and representatives of the Institut de France. Upon appointment, Trustees receive an induction to the history and running of the Charity. In accordance with the constitution, the minimum number of co-optive Trustees in office at any given time should be four and two ex-officio Trustees. The co-optive Trustees are appointed for a term of five years.
The Trustees who served during the year were:-
Mme Beatrice Keighley, Chair Lady Janvrin M Antoine de Navacelle Mme Anne-Marie Gray M Jean-Hugues de Lamaze
The two ex-officio Trustees are the Ambassador of France in London, Mme Helene Duchene, and the Chancellor of the Institut de France in Paris, M Xavier Darcos.
Page 3
MAISON DE L'INSTITUT DE FRANCE A LONDRES
(FONDATION EDMOND DE ROTHSCHILD)
REPORT OF THE TRUSTEES
YEAR ENDED 31ST MARCH 2024
Organisational structure and decision making
The Trustees are responsible for the overall control of the charity's operations and meet regularly to review the performance of La Maison and authorise strategic decisions.
Day to day management is delegated to the charity's director who is supported by a team of staff.
Risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular, those related to the operations and finances of the charity and are satisfied those systems are in place to mitigate exposure to the major risks.
Review of activities and future developments
The net incoming resources of the charity amounted to £84,336 (2022 – outgoing £448,629). The realised and unrealised gains in the market value of the investments amounted to £178,445 (2023 loss of £274,348). The combined effect is to increase total funds at 31 March 2024 to £8,898,972 (2023 - £8,814,636).
The Chancellor of the Institut de France, M. Xavier Darcos, formally reopened La Maison at an inauguration event on 7 October 2022. This occasion was attended by over 100 key contacts from French and British organisations in London, and others from the French community. A lecture event by a French academic was also held on 30th January 2023 to showcase the new facilities at La Maison and to introduce a future objective aimed at helping to promote Franco-British academic exchange.
The total number of visitors in the year was 2014 (929 from October 2022 to March 2023). This showed an encouraging growth after the re-opening of Maison after Covid and the closure. It is anticipated this growth will continue assisted by a publicity campaign by the Institute de France.
The year saw the departure of the Director, M Louis Taylor, after 17 years and the successful induction of his replacement, M Emmanuel Alley. The two had a four-month hand over period.
Objectives for 2024-25 are to increase visitor numbers and to complete outstanding elements of the house renovation project.
From September 2023 room rates were set at £80 per night for a Student room, £110 per night for a single room and £135 per night for a double room. Staff wages were also increased in 2022 to £12 per hour for housekeeper positions. The proposed rates for 2024-25 are to be agreed
The relationship of La Maison with the Institut de France in Paris is very close. The Chancellor of the Institut de France is an ex-officio Trustee of La Maison, and the Institut de France is responsible for approving admission policy for guests wishing to stay at La Maison.
Page 4
MAISON DE L'INSTITUT DE FRANCE A LONDRES
(FONDATION EDMOND DE ROTHSCHILD)
REPORT OF THE TRUSTEES
YEAR ENDED 31ST MARCH 2024
Investment policy and performance
The Trustees' policy is to invest surplus funds in the Charities Official Investment Fund (COIF).
Reserves policy
The charity was obliged to cease its primary operations in mid-March 2020 due to the COVID-19 restrictions imposed by the British Government. The property owned by the Trust subsequently underwent extensive renovation work between June 2021 and October 2022. The performance of the COIF Investment Fund has, however, remained strong. The Trustees monitor and meet regularly to review the financial position of the charity, including the reserves, and presently remain satisfied that there are sufficient general reserves to meet the anticipated operating needs of the charity for the foreseeable future.
Page 5
MAISON DE L'INSTITUT DE FRANCE A LONDRES
(FONDATION EDMOND DE ROTHSCHILD)
REPORT OF THE TRUSTEES
YEAR ENDED 31ST MARCH 2024
Statement of the trustees' responsibilities
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.
The law applicable to charities in England and Wales require the Trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the Trustees are required to:
-
Select suitable accounting policies and then apply them consistently.
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Observe the methods and principles in the Charities SORP;
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Make judgements and estimates that are reasonable and prudent.
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State whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the financial statements.
-
Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
As far as the Trustees are aware, there is no relevant audit information of which the Charity’s auditor are unaware; and the Trustees have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.
The Trustees confirm that they have met the responsibilities set out above and complied with the requirements for preparing the financial statements. The financial statements set out on pages 8 to 17 attached have been compiled from, and are in accordance with, the financial records maintained by the Trustees.
Approved by the Trustees on 2024 and signed on its behalf
TRUSTEE
MAISON DE L'INSTITUT DE FRANCE A LONDRES
YEAR ENDED 31ST MARCH 2024
Page 6
(FONDATION EDMOND DE ROTHSCHILD)
INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES AND MEMBERS OF MAISON DE L'INSTITUT DE FRANCE A LONDRES (FONDATION EDMOND DE ROTHSCHILD)
We have audited the financial statements of Maison De L’Institut De France A Londres for the year ended 31st March 2024, which comprise the Statement of Financial Activities, Balance Sheet and related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
This report is made solely to the Trustees as a body, in accordance with Section 154 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charity’s Trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s Trustees as a body for our audit work, for this report, or for the opinions we have formed.
Respective responsibilities of Trustees and Auditors
As explained more fully in the Statement of Trustees’ responsibilities, the Trustees are responsible for the preparation of the accounts which give a true and fair view.
We have been appointed as auditors under Section 145 of the Charities Act 2011 and report in accordance with regulations made under Section 154 of that Act. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s Ethical Standards for Auditors.
Scope of the audit of financial statements
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the charity’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the Trustees; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Trustees’ report to identify material inconsistencies with the audited financial statements. If we become aware of any apparent material misstatements or inconsistencies, we consider the implications for our report.
Page 7
MAISON DE L'INSTITUT DE FRANCE A LONDRES
(FONDATION EDMOND DE ROTHSCHILD)
YEAR ENDED 31ST MARCH 2024
INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES AND MEMBERS OF MAISON DE L'INSTITUT DE FRANCE A LONDRES (FONDATION EDMOND DE ROTHSCHILD)
Opinion on the financial statements
In our opinion the financial statements: -
-
give a true and fair view of the state of the charity’s affairs as at 31st March 2024 and of its incoming resources and applications of resources, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:
-
the information given in the Trustees’ report is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
David Watts, FCA (Senior Statutory Auditor) for and on behalf of Newton & Garner Limited Chartered Accountants Statutory Auditor
Date: Building 2 30 Friern Park North Finchley London N12 9DA
Page 8
MAISON DE L'INSTITUT DE FRANCE A LONDRES
(FONDATION EDMOND DE ROTHSCHILD)
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31ST MARCH 2024
INCOME Investment Income Charitable Activities Profit on Sale of Investments TOTAL INCOME CHARITABLE ACTIVITIES EXPENDITURE Provision of accommodation services TOTAL EXPENDITURE NET (EXPENDITURE)/ INCOME Transfer between funds Net gains / (losses) on revaluations of investment assets NET MOVEMENTS IN FUNDS RECONCILIATION OF FUNDS Total funds at 1st April 2023 TOTAL FUNDS AT 31ST MARCH 2024 |
Unrestricted Restricted Total Total Funds Funds Funds Funds 2024 2024 2024 2023 Notes £ £ £ £ 3 58,100 - 58,100 57,826 4 140,148 - 140,148 60,459 3 - - - - ------------ -------------- ------------- ------------- £198,248 £ - £198,248 £118,285 ======= ======== ======== ======== 5 253,188 39,169 292,357 292,566 ------------ ------------- ------------ ------------ £253,188 £39,169 £292,357 £292,566 ======= ======= ======= ======= (54,940) (39,169) (94,109) (174,281) - - - - 178,445 - 178,445 (274,348) ------------ ------------- -------------- ------------ 123,505 (39,169) 84,336 (448,629) 8,475,835 338,801 8,814,636 9,263,265 ---------------- -------------- --------------- --------------- 14£8,599,340 £299,632 £8,898,972 £8,814,636 ========= ======== ========= ========= |
|---|---|
The notes on pages 10 to 17 form part of these financial statements
Page 9
MAISON DE L'INSTITUT DE FRANCE A LONDRES
(FONDATION EDMOND DE ROTHSCHILD)
BALANCE SHEET YEAR ENDED 31ST MARCH 2024 Notes 2024 2023 FIXED ASSETS Tangible fixed assets 9 6,520,654 6,519,020 Fixed asset investments 10 2,149,829 1,971,384 --------------- --------------8,670,483 8,490,404 CURRENT ASSETS Debtors 11 22,001 19,343 Cash at bank 242,760 327,331 --------------- --------------264,761 346,674 CREDITORS Amounts falling due within one year 12 (36,272) (22,442) --------------- --------------- NET CURRENT ASSETS 228,489 324,232 --------------- --------------- NET ASSETS 13 £8,898,972 £8,814,636 ========= ========= CHARITY FUNDS General funds 14 £8,898,972 £8,814,636 ========= =========
The financial statements were approved by the Trustees on and signed on their behalf, by:
)
) - Signed on behalf of the Trustees
)
The notes on pages 10 to 17 form part of these financial statements.
Charity number - 312897
Page 10
MAISON DE L'INSTITUT DE FRANCE A LONDRES
(FONDATION EDMOND DE ROTHSCHILD)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST MARCH 2024
1. Legal status of charitable company
Maison De L’institut De France A Londres is registered with the Charity Commission in the United Kingdom as a charity. The charity’s registered number and principal office address can be found in the Trustees Report.
2. Accounting policies
Basis of preparation of financial statements
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: - Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP (FRS 102)), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and Charities Act 2011.
Maison De L’Institut De France A Londres meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. There are no material uncertainties about Maison De L’institut De France A Londres ability to continue as a going concern.
In preparing the financial statement, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP (FRS 102) the restatement of comparative items was required. No material restatement of comparative items was required.
The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounding to the nearest £.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund are set out in notes to the financial statements.
Income
All income is accounted in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Page 11
MAISON DE L'INSTITUT DE FRANCE A LONDRES
(FONDATION EDMOND DE ROTHSCHILD)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST MARCH 2024
Income (continued)
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Income from granted funds are recognised as above when receivable.
Invested income is accounted for when receivable.
Expenditure
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of the resources. Central overhead costs are allocated on the basis of staff time attributable to particular activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with enabling the charity to comply with external regulation, constitutional and statutory requirements and in providing support to the Trustees in the discharge of their statutory duties.
Tangible fixed assets and depreciation
All assets costing more than £100 are capitalised.
Tangible fixed assets are stated at cost less depreciation. Depreciation is not charged on freehold land. Depreciation on other tangible fixed assets is provided at rates calculated to write off the cost of those assets, less their estimated residual value, over their expected useful lives on the following basis: -
Freehold property - 0% Improvements - 25% straight line Furniture & fixtures - 10% straight line Office equipment - 20% straight line
MAISON DE L'INSTITUT DE FRANCE A LONDRES
Page 12
(FONDATION EDMOND DE ROTHSCHILD)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST MARCH 2024
Investments
Investments are stated at market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluations, additions and disposals throughout the year.
Debtors
Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due.
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdraft. Bank overdraft are shown within borrowings in current liabilities.
Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
Financial instruments
The Trust has elected to apply the provision of Section 11 ‘Basic Financial Instruments and Section 12 Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Trust’s balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the assets and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, when the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classifieds receivable within one year are not amortised.
MAISON DE L'INSTITUT DE FRANCE A LONDRES
Page 13
(FONDATION EDMOND DE ROTHSCHILD)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST MARCH 2024
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
VAT
| The Charity is registered for VAT, therefore the value of income shown in the accounts from | The Charity is registered for VAT, therefore the value of income shown in the accounts from | contributions by |
|---|---|---|
| "pensionnaires" is stated net of VAT. | ||
| 2024 | 2023 | |
| 3. Investment income | ||
| COIF dividends | 57,542 | 57,321 |
| Bank Interest | 558 | 505 |
| Profit on Sale of Investments | - | - |
| ------------- | ------------ | |
| £58,100 | £57,826 | |
| ======= | ====== | |
| 4. Charitable activities income | ||
| Contributions by "pensionnaires" | £140,148 | £60,459 |
| ======= | ======= | |
| 5. Charitable activities expenditure: | ||
| provision of accommodation services | ||
| Direct costs | 65,914 | 42,908 |
| Staff costs | 167,651 | 110,575 |
| Support costs | 16,023 | 13,567 |
| Auditor’s fees | 3,600 | 2,850 |
| Renovation Project Costs | 39,169 | 122,666 |
| ----------- | ---------- | |
| £292,357 | £292,566 | |
| ======= | ======= |
The staff costs include key management personnel total costs of £89,332 (2023 - £58,301) for their services to the clients.
The profit made on sale of investments and the grant received from Paris contributed to funding the renovation costs.
Page 14
MAISON DE L'INSTITUT DE FRANCE A LONDRES
(FONDATION EDMOND DE ROTHSCHILD)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST MARCH 2024
6. Support costs allocation to activities
| Cost | 2024 | 2023 |
|---|---|---|
| Telephone | 385 | 181 |
| Printing, postage & stationery | 244 | 521 |
| Premises costs | - | - |
| Repairs & renewals | 3,005 | 551 |
| Other support costs | 12,389 | 12,314 |
| ---------- | ----------- | |
| Total | £16,023 | £13,567 |
| ====== | ====== |
7 . Net income for the year
This is stated after charging:
| Depreciation of tangible fixed assets: | |
|---|---|
| Owned by the charity | 3,731 4,169 |
| Loss on disposal of fixed assets | - - |
| Auditors’ fee | 3,600 2,850 |
| ===== ===== |
During the year, Trustees received reimbursement of travel expenses from Paris to London of nil (2023 - nil).
8. Staff costs
| Wages & salaries | 153,393 | 107,270 |
|---|---|---|
| Social security costs | 7,584 | 3,305 |
| Recruitment | 6,674 | - |
| ----------- | ----------- | |
| £167,651 | £110,575 | |
| ====== | ======= |
The average monthly number of full-time equivalent employees during the year was as follows:Direct charitable work 6 6 == ==
No employee received remuneration amounting to more than £60,000 in either year.
Page 15
MAISON DE L'INSTITUT DE FRANCE A LONDRES
(FONDATION EDMOND DE ROTHSCHILD)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST MARCH 2024
9. Tangible fixed assets
Furniture Land and Office fittings & buildings Improvements equipment equipment Total Cost At 1st April, 2023 6,500,000 - 2,657 41,274 6,543,931 Additions - - - 5,365 5,365 Disposals - - - Revaluation - - - - - -------------- ------------- -------------- ------------- -------------- At 31st March, 2024 £6,500,000 £ - £2,657 £46,639 £6,549,296 ========= ======== ======== ======== ========= Depreciation At 1st April, 2023 - - 1,911 23,000 24,911 Charge for the year - - 422 3,309 3,731 On Disposal - - - - - --------------- -------------- --------------- --------------- --------------- At 31st March, 2024 - £ - £2,333 £26,309 £28,642 ========= ======== ======== ======== ========= Net book value At 31st March, 2024 £6,500,000 £ - £324 £20,330 £6,520,654 ========= ======== ======== ========= ========= At 31st March, 2023 £6,500,000 £ - £746 £18,274 £6,519,020 ========= ========= ======== ========= =========
Furniture, fixtures & fittings represent the contents of the freehold property, 8 Queens Gate Terrace, London.
The freehold property has undergone substantial renovation work over the past couple of years. Following completion of the work the property was valued by the Trustees at 31[st] March 2023, and was based on the average of Estate Agents’ valuations.
The historical cost of the freehold property is £28,848.
Page 16
MAISON DE L'INSTITUT DE FRANCE A LONDRES
| (FONDATION EDMOND DE ROTHSCHILD) | (FONDATION EDMOND DE ROTHSCHILD) | |
|---|---|---|
| NOTES TO THE FINANCIAL STATEMENTS | ||
| YEAR ENDED 31ST MARCH 2024 | ||
| 2024 | 2023 | |
| 10. Fixed assets investments | ||
| Listed | ||
| Securities | ||
| Cost or valuation | ||
| At 1st April, 2023 | 1,971,384 | |
| Gain/(loss) in value | 178,445 | |
| Additions in the year | - | |
| --------------- | ||
| Market value as at 31st March, 2024 | £2,149,829 | |
| ======== | ||
| Historical cost at 31st March, 2024 | £418,618 | |
| ======== | ||
| All the investments are held in the UK. | ||
| Material investments | ||
| Charities Official Investment Fund (COIF) | £2,149,829 | £1,971,384 |
| ========= | ========= | |
| 11. Debtors | ||
| Trade Debtors | 298 | - |
| Accrued income | 15,353 | 14,923 |
| Prepayments | 6,350 | 4,420 |
| VAT Repayable | - |
- |
| ------------ | ------------ | |
| £22,001 | £19,343 | |
| ======= | ======= | |
| 12. Creditors | ||
| Amounts falling due within one year: | ||
| Trade creditors |
22,463 | (1,519) |
| Social security and other taxes | 7,749 | 6,850 |
| Accruals | 4,744 | 13,956 |
| Sundry creditors | 1,316 | 3,155 |
| --------- | ---------- | |
| £36,272 | £22,442 | |
| ====== | ====== |
Page 17
MAISON DE L'INSTITUT DE FRANCE A LONDRES
(FONDATION EDMOND DE ROTHSCHILD)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST MARCH 2024
13. Analysis of net assets between funds Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 14.Summary of funds Balance Incoming Resources 01.04.23 resources expended Unrestricted 8,475,835 198,248 (253,188) Restricted 338,801 - (39,169) ---------------- ---------------- -------------- Total Funds £8,814,636 £198,248 £(292,357) ========= ========= ======== |
2024 2023 6,520,654 6,519,020 2,149,829 1,971,384 264,761 346,674 (36,272) (22,442) ------------- ------------- £8,898,972 £8,814,636 ========= ========= Transfers Net Investments Balance between funds gains/losses 31.03.24 - 178,445 8,599,340 - - 299,632 -------------- ------------- --------------- - £178,445 £8,898,972 ======== ======== ========= |
|---|---|