Charfty nurnber: 326898 THE BORIS KARLOFF CHARITABLE FOUNDATION UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
THE BORIS I(ARLOFF CHARrrABLE FOUNDATION CONTENTS Page Refer•Trce and administratlve dotails of the Charlty, its Trustee$ and adv15ers Trusteos. report Independent examinees report Stat¢m¢nt of flnanclal aGtfvitle8 Balance shoBt Notes to the flnancial $tstements 9-17
THE BORIS KARLOFF CHARITABLE FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2022 Trustees J Fairclough O M Lewis C Fairclough Charity regl$tgred number 326898 Principal office 2 Putney Hill London SW156AB Indepondent examlner MHA Maclnwe Hudson Charter8d Accountsnts 2 London Wall Place London EC2Y SAU Bankars Coutts & Co 440 Strand London WC2R OQS SoliGilors Russell-cooke LLP 2 Putney Hill London SW15 6AB Invgstmont Manager Investec Weaiih & Investsnent Limited 100 Wood Street London EC2V 7AN
THE BORIS KARLOFF CHARITABLE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2022 The Trustees present their annual report together wth the financial statements of the Charity for the year from 6 April 2021 to 5 April 2022. The Trustees have adopted the provlslons ol the Statement of Recommended Practice ISORPI 'Accountirkg and Reporting by Charities. IFRS 102) in preparing the annual report and financial statements of the Charity. Obje¢tives and actlvltles a Pollcles and oblectlvos The principal obiect and purpose of the Charity, as per its governing document, is for the benefit of such exdusively tharitable objects and purposes as the Trustees in their absolute discretion think f Th& Trustees are empowered to pay or apply income and catital of the Charlty for the benefit of such charitsble objects as the Trustees d8cide. b. Aclivitles undertakon to achleve objectlves and to fvrth9r the Charity's purposes for the public benefit The main activities undertaken in relation lo the purposes of the Charity, as per its goveming document, are as follows- The Charity provldes grants lo other charitable organisalions with particular emphasis on those connectgj wth the perfomiing arls and the promotion of cficket. The trfOrming arts support the well-being of citizens. c. Statemont on publlc beneflt In setting objectives and planning for current and fulure activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, indudlng the guidance 'Public benefit- running a charity IPB2)'.
THE BORIS KARLOFF CHARITABLE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022 A¢hlev¢ments and perfomiance a. Revlew of a¢tivities and achiovoments The Charity received a considerable number of reouesls for donations and grants which have all been c8refvlly considered by the Trustees, but, in view of the income of the Charrty, support has been restrlcted lo those Charities as set out in Note 5 of these accounts. A subslanlial proportion of gfanls made a related lo the perfonning arts. The grants that the Charity gave enabled perfomiing arts organisations to extend their projects lo benefit mre parkncipants and in some cases to benefit the wider public. Grants were given to individual drama students from disadvantaged backgrounds who were selected by their colleges. Money was given to theatre projects lo subsidise Seat prices to reach those who seldom have Ihe op)rtUnitY to visit a performing arts venue. Money was also given lo small theatre companies to enable them to run projects in schools to bring an appreciabon of the perfomiing arts to young p8ople. Other Courses gave disabled aclors a chance to perform. Writers, composers. a¢tors. directors. singers and technicians in the theatre were all supported al 8 time when public money for the perfomiing arts 15 severely limited. Unlike previous years, grants were not all paid at the beginning of Ihe financial year but a$ and when organisations were able to put in a¢e their origillal projects or suitably aijapted ones after Covid restrictions. Those involving theatres and schools were particularly affected. However, all the ring-fenced grants were 8V8nlually paid except for t0, Almeida Theatre and Tobacco Factory, where planned Iheatre projecls wero cancelled. One grant, Create, a proje in a prison which could not go ahead, and on&, Troupe, a theatre production so also delayed that the grant was paid out of Ihe following year's budget. One interesting positive outcome of the adaptions during Covid wa5 the use of online work and streaming. For example, one organisation which works on promoting th8 appreciation of drama in schools has now gone back to live performances but is also using streamed performances to reach many mre school$. b. Inveslment policy and pgrfomiance The Trustees hove very vmde ranging investment powers under the Trust deed. The TTUStees have appointed Inveytec Wealth & Investment Limited to act as fund manager on their beh*f. Investment Managets hold the fund on an advisory basis. The Trustees monitor inveslment perfonnance. Flnanclal revlew a. Golng concern After making appropiiate enquiries. the Twslees hav& a reasonable expectation that the Charity has adequate resources to continue in operatyonal existence for the foreseeable future. For this reason, they conts'nue to adopt the going concem basis in preparing Ihe financial statements. Further details regarding the adoption of the going concem basis can be found in the accounting policies.
THE BORIS KARLOFF CHARITABLE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022 b. Finan¢lal rnvigw During the year the Charity received total income of £71,825 {2021- £62,130). The majority of this came from the Chaiitls income from investments which totaled £71.821 12021- £61,896). Tho remainder of the income came from Bank interest receivable of £4 {2021- £201 and Rordlty income of £Nil (2021- £214>. Totsl expenditure for Ihe year was £73,24612021- £84.3281- Of this the Charity provided Grants to institutions totaling £51,53812021- £63,220>. Details ol the grant Cip[ents can be found in Note 5. Investment management costs totaled £13.73912021- £14,347) whilst other Support costs totaled £7.969 {2021- £6,761)- A breakdown of these costs Gan be seen in the Statement of Financial Activities. The net expendlture for the year before investment gains and losses was £1,421 12021- not expendlture £22,198). During the year the Charit$ investments recorded a revaluation gain of £95.628 {2021- gain of £733,847) resulting in an overail net suwus after investment gains of £94.20712021- nel surplus of £711,649). . R¢servos policy The Charity is a granl rnang Charity and its income generating assets are held 8$ investments and cash deposits. The Trustees apply the income derived Ihrough giving grants to charitable bodies. It is the Trustees, pclicy to utilise all income arising, allhough in any given year a surplus or deficit may arise and the srze of any surplus or deficit will vary according to the liming of grant panents. The Trustees alway5 relain in the Coutts account sufficient reserves lo cover any expenses for the following year. During the current year the expenditure lotalled £73,246. The Gash held in the Coutts accounl as al the year4nd was £72.660 and is therefore considered lo b& in the appropriate range. The General fund has been established lo recognise all inrJJme and expanditure In respect of activities undertaken by the Charity outsKI8 the ErKlowment fund. At the year end, the balance held in this fund amounted to £81,399 {2021- £69,081 }. The Endowment fund is expendable in nature. and is considered to consist of the value of the investrnents, induding the capital bank account. Where neSSary funds are Iransferred to the Unrestricted fund to support the grant giving. At the year end. the balance held in the endowmenl fund amounted 10 £3.286.06612021- £3.204,177). Structure, gov•rnance and management a. Conslltutlon A Deed of Setllemenl dated 18 June 1985 estsblished this Charttable Trust. On 1 June 1993 Mrs E Kadoff died and under the lemis of her wdl. the residue of her eslate was bequeathed to the Trustees. The Charity is registered with the Charity Comrnission Icharity registration number 326898) in England and Wales. The Deed empowers the Trustegs to retain the capital and pay or'appV the inwme. However il also allows the Trustees the option of spending Ihe whole or such part or parts of the capital of the Trust Fund as the TTUStees in their absolute digcretion think fit.. b. Methods of appointment or eloction of Trustees The management of the Foundalion is th8 responsibility of the Trustee$ who are elected and COpted under the lemis of the Trust deed. The power of appointing new Tnjstees is vested in the Trustees.
THE BORIS KARLOFF CHARITABLE FOUNDATION TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 5 APRIL 2022 stNcture. governance and manag•rnent (conllnued) c. Flnanclal risk management The Trustees have assessed the major risks to which the Charity is exposed. in particular those ralated to the operations and financos of the Charity, and are satisfied that syslems and procedu¥ are in 8¢e to mltigale exposure to the major risks. Approved by order of Ihe members of the board of TNstees and signed on Iheir behalf by: O M Lewls Trustee Date.. 4és4 2 a2Z
THE BORIS KARLOFF CHARITABLE FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2022 Independent examlnerf8 report to the Trustees of The Borl$ Karloff Charitable Foundation {Yh¢ Charlty'} I report to the charity Trustees on my examination of the accounts of the Chanty for the year ended S Apn'l 2022, whiGh are sel out on pages 6 to 16. R•sponslbilltles and ba61s of report As the Trustees of the Charity you are responsible for the preparalKJn of the accounts in accordance with the requirements of Ihe Charlties Aci 2011 Ilhe 2011 ACVI. I report in respect of my examination of the Charitys a¢counts carried out under section 145 of the 2011 Act and In caTrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145{51{bl of the 2011 Act. Indopond•nt examlnerfs statement Your attention is drawn to the facl that the Charity has prepared the accounts in accordance wth Accounting and Reporling by Charities: Slatement of Recommended Practice applicable to charities preparing their accounts in acrdanC0 Wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Rewrting by Chatities: Statemenl of Recommended Practice issued on 1 April 2005 whith is referred to in the extant regulations but has been withdrawn. l understand Ihat this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Acceptsd Accounling Practu effective for reporting periods beginning OTb or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connect¢on wlth the examination giving me cause to believe that in any material respect: aoUntIng records were not kept in respect of the Charity as quired by section 130 of the 2011 Actr. or the accounts do not accord wth those records; or the accounts do not comply with the applicable requirements conceming the form and content of accounts sel out In the Charities (Accounts and Reports) Regulations 2008 other than any requlrement that the gccounls give a Irue and fairf view which is not 8 matter consi(Jered as part of an independent examination. I have no concems and have come across no olher matters in o)nnection wtlh the examination lo which attention should be drawn in this report in order to enabl& a proper understanding of the aGcounts to be rea¢hed. Signed: Dated: 1910712022 Stuart McKay Bsc FCA DChA MHA MaCine Hudson. Chartered Acwuntsnts, 6th Floor, 2 London Wall Place, EC2Y SAU
THE BORIS KARLOFF CHARITABLE FOUNDATION STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 5 APRIL 2022 Unrestricted Endowmenl funds funds 2022 2022 Total lunds 2022 Total fijnds 2021 Note Incom• from: Dividends and interest from investments Bank interest receivable Roydlties receNable 71.821 71.821 61,896 20 214 Total in¢om• Expenditure on: Grants to inslilulions Legal and prof6ssional fees Bank charges Independent examSnation Other expenses Invgstmont management costs 71.825 71.825 62,130 51,538 3.600 507 51,538 3.600 S07 3,792 70 13.739 63,220 3,113 515 2,808 325 3,792 70 13.739 14,347 Total expenditurg 59.507 13.739 73.246 84,328 Nat Incomellexpendituro) before net gains on investments 12,318 113,739) 95.628 11,4211 95,628 (22, 198) 733,847 Net gains on investments Other reGognlsed galns: Net movement in funds Reconcllialion of funds: 12,318 81,889 94,207 711,649 Total funds brought forward 69,081 3,204,177 3,273,258 2,561.609 Net movement in funds 12.318 81.889 94.207 711,649 Totsl funds carried foard 81.399 3.286,066 3,367,465 3,273,258 The Statement of financial activities indudes all gains and losses renIsed in the year. In the prior year investrnent manament costs of £14.347 were allocated to the Endowment funds. All other inGome and expenditure recognised in the year was allocated to l from Unreslricled funds. The notes on pages 9- 17 fomi part of these financial statements.
THE BORIS I(ARLOFF CHARITABLE FOUNDATION BALANCE SHEET AS AT 5 APRIL 2022 2022 2021 Nole Flxed asse1$ Investments 3,025,303 3.117.862 3,025,303 3.117.862 Current assets Debtors Cash at bank and in hand 12,531 334,423 10.525 173,803 346.954 184,328 Creditors: amounts falling due within one year (4.792) (28.932) Net current assèts 342.162 755,396 Total net assets 3.367.465 3,273,258 CharFty funds Endowment funds Unrestricted funds 3.286.066 81.399 3,204, 777 69,081 Totsl funds 3.367,465 3.273.258 The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by. wis Trustee Dale.. * J-42d?z The notes on pages 910 17 fonn part of these financial statefflenls.
THE BORIS KARLOFF CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 General InforntiOn The Boris Karloff Charitable Foundation is a registered charitable Trust {Charity registered number 326898) with the Charity Commission in England and Wales. The address of the registered office is given in the Foundation information on page 1 of these financial stalements. The nature of the Foundation operations and principal activity is for the benefit of such exclusively tharilable obleets and purposes as the Trustees in their absolute discretion think fit Accounting pollcles 2.1 8a$is of preparntlon of financlal statements The financial statements have prepared in accordance with the Charities SORP IFRS 102) - Accounting and Reporting by Chafilies- Statement of Recommended Practice applicable to charities preparing their accounts in accordance wrth the Financial Reporting Standard applble in the UK and Republic of Ireland {FRS 1021 and the Charities Act 2011. The financial slalements have been prepared lo glve a 'true and f8ir' vrew and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required lo provide a %rLbe and fairf view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rath8r than the Accounting and Reporting by Charittes.. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Boris Karfoff Charitable Foundation meets the definition of a public benefft entity under FRS 102. Assets and liabilities are iniltally recognised at historical cost or transaction value unless othe188 stated in the relevant accounling policy. The financial statements are prepared in pounds sterling which is both the fvnctional and presentational currency of the Foundation and are rounded to the nearesl pound sterling. The 8ignfficant accounting wlicies applied in the preparalion of these financial statements are set out below. These policies have been conslslenY applied to all years presented unless otherwise staled. 2.2 Going concern The financial statements have been prepared on a going concem basis as Ihe Trustees believe that no material unrtaInlieS exist. The Trustees have considered the 18vel of funds held and the expected level of income and expenditure for 12 months from autho51n9 these financi81 statements. The budgeted inwme and expondilure is sufficient wilh the level of reseTh6s for the Foundation lo be able to continue as a going concem. 2.3 Income All income is recognised once the Charity has entitlement to the incom¢, it is probable that th8 income will be received and the amount of InMe receivable can be measured reliably. Income tax recoverable in atIon to investment income is recognised at the time the investment income is receivable.
THE BORIS KARLOFF CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Accounting pollcie5 (contlnued) 2.4 Expendlture Expenditure 1$ recognised once there is a legal or constru¢tive obligation lo transfer eGonomiG benefrt lo a third paty, it is probable that a transfer of economic benefits will required in settlement and Ihe amount of the obligation can be measured reliably. There were no staff costs incurred in either period. Expenditure on charitable activities is incufred on directFy undertaking the acllvilies vthlch further the Charitys objectives. as well a5 any associated support costs. Grants payable are charged in the year when the offer 1$ made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfllled. Grants offered subject to condiltons which have not been met at the year end are noted as a commitment. but not accru8d as expenditure. AJI expenditu is inclusive of irrecoverable VAT. 2.5 Investments Fixed asset investments are a form of basic financial instrument and are initialty recognised at their trans8Ct¥on cost and subsequently Gontinuously measured al fair value using the dosir¢g quoled market price at the Balance Sheet date using the mark to market basis of valualion. All gains and losses are taken to the Statement of Financial Acbvities 89 they ari9e. The Ststement of Flnancial Activtties Indude$ the net gains and losses arfslng on revaluatlons and disposals throughout the year. As investments are revalued to fair value continuously, no realised gains or losses arise. The Foundalion does not acquire or hold put options, derivatives, or other complex financial inslruwnents. 2.6 Debtors Trade and other debtors are recognised at the setttement amount aftgr any trade discount offered. Prepayments a valued at the amount prepaid net of any trade di$wunts due. 2.7 Cash at bank and in hand Cash at bank and in hand Indudes cash and short-lerm highly liquid investments with a short malurity of three months or fess from the date of acquisition or opening of the deposit or similar account.
THE BORIS KARLOFF CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 AcGountlng policles {continuod} 2.8 Llabilltles and provlslons Liabilities are recognlsed when there is an obligation at the Balan sheet dale as a result of a past event, it is probable thal a transfer of economic benefit will be Tequirod in setuemenl, and the amount of the settlement Gan be estimated reliably. Liabilities are recognised at the amovnt that the Charty antiripales il will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provislons are measured al the best estimate of the omounts requlred to settle the obligation. Where the effect of ihe Ilme value of money is material, Ihe provision is based on the present value of those amounts, discounted al the pre-tax discount rate that refiects the risks specific lo the liability. The nwinding of the discount is recognised in the Statement of financial activitie5 as a finance cost. 2.9 Flnanclal Instrumonts The Charity only holds basic financial inslrumenls. The financial assets and financial liabilities of the Charity are as follows.. Debtors - sundry debtors and accrned income are basic financial instruments and are debt instruments measured at amortised cosl as detailed in Note 7. Prepayments are not financial instruments. Cash at bank- is dassified as a basic financial instrument and is measured at face value. Lfablllties - accruals and other credÈtors a classffjd as flnan¢ial instruments and are measured at amorbsed cost as detsiled in Note 8. 2.10 Fund accountlng General funds 8r8 unrestricted funds which are available for us8 al the discrotion of Iho Twstees in furtherance of the general objectwes of the Charity and which have not been designated for other purposes. ExpetTrdabfe End0yent funds repr&senl those as5els which must be held by the Foundation but can bg appld on charitable activities at the discretion of the Trustees. Income arising on the endowment funds can be used in ardance wth the objects of the Foundation and is included in unrestricted in(x)me. Investhienl management costs are deducted directly from the endowm8rsl fund. Investment in(x)me, gains and losse5 are allocated to the appropriate fund.
THE BORIS KARLOFF CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Independgnt examlnees remuneratlon 2022 2021 Fees pable to the Charitys independent examiner for the independent examination of the Charitys annual accounts Over-ac(¥ual of the prior year examination fees 3,792 3,732 (924) Trustees. remuneration and expenses During the year. no Trustees, who comprise all the Key Management Personnel of the Foundallon, neither received or waived any remuneration or other benefits12021- £NILI. During the year ended 5 April 2022, 1 Trustee was reifflbursed expenses of £70 for travel and subsiStenl202l- £76 reimbursed to 1 Truslee)-
THE BORIS KARLOFF CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDÉD 5 APRIL 2022 Grants to Institutlong 2022 2021 Alive and Kicking Theatre Almeida Theatre Arundel Caslle Cri¢ket Foundation Barblcan Centre Trust Bishop Monkton CC Blind Cridoet England and Wal8S Box Clever Theatre British Youth Musè Centre Bush Theatre Carousel Cherw811 Theatre Company Chickenshed Theatre Circus Staf Clowns in the Sky The Core al Corby Cube Cury (Curry Cube Theatre TNst) Create Donmar Theatre English Touring Opera Framllngton Are8 Youth Action Partnership Gabrieli Theatre Gallions Golden Toad Theatre Interact Stroke Iri5 Theatre Company Kandinsky Kiln Theatre Krazy Kat Theatre The London Academy of Music and Dramatlc Art (LAMDAI London Bubble Theatre London sInf(letIa Masterdags National Youth Theatre The Nucleo Project PapaTango Theatre Company 1.000 (1.500} 5.1)00 1,000 1,500 5.000 1.500 1,000 500 1,000 1,000 1,000 750 1.500 7,000 1,000 600 {1.0001 1.000 1,1)00 1.188 1.000 1,000 2,000 1,000 2,OlXI 2,000 6,000 1,500 1,000 2,0110 SUt01 carrled fonyard 32,038 31,000
THE BORIS KARLOFF CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Grants to Instltullons (continued) 2022 2021 Sub-total brought forward Philharmonia Orchestra Pleasance London Youth Theatre Polka Theatre RADA (The Boris Kadoff Scholarship Fund) The Royal Haymarftet Masterdass Trust Stsne and Heard Sound and Music Soulhwark Pla)0USe Sudden Productions Theatre Royal Strafford East Tobacco Theatre 32.038 1.OOQ 3t,000 1,000 1.000 6,000 6,000 1,500 1,500 1,000 1,620 1.500 1,000 (1.000} 1.000 2,000 2,000 7,000 Told by an Idiot Two's Company Two Moors Festival Unicom Theatr& Wilton'$ Music Hall Trust The Yard Theatre Ltd The Young Vic Company Yvonne Amaud Th8alre Management Ltd 1,000 1,000 2,000 12,600 2,000 1,000 2.000 51.538 63,220
THE BORIS KARLOFF CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Flxed asset Investments Ltsted Inv•$tments Cost or valuation At 6 April 2021 Additions Disposals Revaluations 3,117.862 262,129 (450.316) 95.628 At S Aprll 2022 3.025.303 Net book value At 5 Aprll 2022 3,025,303 At 5 Apnl 2021 3,117,862 The fair value of listed investments is detemiined by reference to the quoted price for identical assets in an active markel at the balance sheet dale. Induded within Cash at Bank and in Hand is the Capital Cash account of £63,933 (2021 - £89,915). Debtors 2022 2021 Duo wlthln tsne year Prepayments and accnjed income 12.531 10,525 12,531 10,525 Creditors: Amounts falling due vAthln one year 2022 2021 AccnJals 4792 7,332 21,600 Grants accrued 4.792 28,932
THE BORIS KARLOFF CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Statement of funds Statement ol funds - ¢urrent year Balance at 6 Aprll 2021 Galnsl Balance at 5 (Losses) Aprll 2022 Income Expendlture Unr•strlcted funds General fvnds 69.081 71,825 {59.507) 81,399 Endowment lunds Expendable Endowmenl fund 3,204,177 113,739) 95,628 3,286,066 Totsl of fund$ 3.273.258 71.825 173.246) 95.628 3.367.465 Statemenl of funds - prlor year Balance at 1 April 2020 GainFJ Balance al (Losses) 5 Apnl 2021 Income Expenditure Unre$tricted funds General funds 76.932 62,130 (69.981) 69,081 Endowment funds Expendabla Endowment fund 2.484,677 (14.347) 733,847 3.204, 177 Totsl of funds 2,561,6Q9 62,130 (84,328) 733,847 3,273.258 The General lund has been eslablished lo r8cognis& all income and expendlture in respert of aclivilTes undertaken by the Charity outside tho Endowment fund. The Ersdowment fund is expendable in nalure. and is considered to consist of the value of the investments, induding the capital bank account. Where necessary funds are transfeed to the unrestricted fund lo support the grant giving.
THE BORIS KARLOFF CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 10. Analysis of net assets between funds Analysis of ngt assets b8tween funds- currenl yoar Unrostricted Endowment funds funds 2022 2022 Totsl funds 2022 Fixed asset investments Current assets Creditors due within one year 3.025,303 261,763 11,0001 3.025.303 346.954 {4.7921 85,191 13,792} Total 81,399 3,286.066 3,367,465 Analysis of nèt assets botween funds- prlor year unStricted Endowment funds lunds 2021 2021 Total funds 2021 Fixed asset investments Current assots Cfedilors due wlthin one year 3,117.862 89.915 (3.6001 3,117,862 184.328 {28.932) 94.413 125.3321 Total 69.081 3.204.177 3,273,258 11. Related party tran8ACtions Olher than Trustee and Key Management Personnel transactions detailed in Note 4. there were related party transactions during the perfod12021 - None).