Charity Registration No: 326959 (England and Wales)
THE HEATHSIDE CHARITABLE TRUST
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

THE HEATHSIDE CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Registered Gharity number
326959
Goveming document
Trust deed dated 22 August 1985
land supplemental Trust deed
dated 25 September 20171
Trustees
Sir Harry Solon￿￿
L S Jacobs
G R Jayson
D M Solomon
J K Solomon
S J Jacobs
J B Jacobs
Audltor
RSM UK Audit LLP
Chartered Accountants
25 Farringdon Street
London
EC4A 4AB
Bankers
Lloyds TSB Private Banking
PO BOX 46152
3rd Floor
39 Threadneedle Street
London
EC2R 8AU
Inv9Stment Managers
UBS Wealth Management
S Broadgate
London
EC2M 2QS
Canaccord
41 Lolhbury
London
EC2R 7AE
Contact address
Hillsdown House
32 Hampstead High Street
London
NW3 1QD

THE HEATHSIDE CHARITABLE TRUST
CONTENTS
Page
Trustees, Report
Trustees, Responsibilities
Independent Auditor's Report
Statement of Financial Activities
Balance Sheet
Cash Flow Statement
10
Notes lo the Financial Statements
11-16

THE HEATHSIDE CHARITABLE TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees pre5enl thelr report and ffinanclal statements for the year ended 31 D￿mber 2021.
The financial statements have beén prepared in accordance with the accounting policies set out in notes to the
accounts and comply with the charity's governing document. the Charitie3 Act 2011 and Accounting and Reporting by
Charities.. Statement of Recommended Piadice applicable lo charities preparing their accounts in accordance with the
Financial Rew)rting Standard applicable in the UK and Republic of Ireland published on 01 January 2019.
Aims and objg¢tives of th• Charity
The objects of the charity ale making available funds forthe benefit of such ¢haritable institutions. or for Such charitable
purp03es, as Ihtr trustees shall decide. The trustees identify organi$8lions and projects il wishes lo support and this
generally arises from direct contact5 rather than speculative applications.
The trustees have considerad the principal risks lo which the charity is exposed, and are satisfied that systerns are in
place to mltigate those risks.
Constltution and govemance
The charity wa5 established by a charilable trust deed on 22 August 1985 which wa8 updated by a supplementa1 deed
on 25 September 2017.The charity is registered with the Charity Commission under registration nurnber 326959 and is
an independent charity. Tho address of the principal office 1$ 32 Hampstead High Street, London NW3 1QD. The
Trustees are responsible for the overall management and Control of the chaiity.
Trust袥
The Trustees who served during thè year are..
Sir Harry Stslotnon
Lady Judith Solomon (died on 30 October 20211
L S Jacobs
G R Jayson
D M Solomon
J K Solomon
S J Jacobs
J B Jacobs
The number of Trustees shall never be less than two and an additional Trustee or additional Trustees may be appointed
al any time but so that the total number of Tru51ees shal181 no time exceed ten in accordance with a supplemental deed
dated 25 September 2017. The Trustees have the power of appointing new or additional Trustees.
The onty trustees are family and trusted advisers. The Board of Iruslees has be&n he8vily involved in the charity worfd
for many years and is expetienced in the requirements of char￿e$.
Th8 Charty owns the Investmenl propertles whith are held by the Trustees on it5 behalf.
Review of actlvltlo¥
The charity re¢eived donations of £325,729 {2020'. 258,0751 during the year. These included gifts of £229,741 12020..
£70,455) from Sil Harry Solomon, £38,790 12020.. £129,268) from Lady Judith Solomon, £Nil 12020.. £18,500) from
Daniel Sdomon, £20,0(X)12020,' £Nil) frorn Louise Jacobs and £10,00012020." £Nill from Juliet Solomon. The charity
has rnade donations to charitable causes in accordan￿ with its objects totalling 2450,41312020.. £382.4761 and these
ale referred to in note 4 to the financial statements. 66 grants12020'. 63} were made to charitable organisalions covering
He8llh. Education, CultLJf818nd other general causes. The Trustees are of the opinlon that the finanaal position of the
charity al the balance sheet date is sufficient lo meetits on-goin9 activibes. The net assets al the year end dale arnounted
to £5.314,568 {2020.' £5.(￿l,490>.
Investfflent pow¢rs
The Twstees hav$ wide investmenl powers and investments are rnade in properbos, shares and unil trusts.

THE HEATHSIDE CHARITABLE TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Investmènt policy
The Trustees, policy is lo adopt a low risk investment strategy by sp188ding the Trust's as881s over the various types of
investmenl. Currently the assets are invested in cash, property, equities and venture capital funds. The investment policy
15 designed lo maxlmise incorne and eapitsl gain within a low risk environment and the trustees Consider a broad lange
of investments mentioned above lo include bonds, ethical investments and sustainable funds. The trustee8 monitor the
performance of investments against their obje¢tive5 and are satisfied Ih8t such objectives are being mel.
The Trustees Meet periodieally lo revièw investm&nl policy during the year. They consider inwme requirements along
with the investment advisorfs view of market prospects. The current objedive is an 8nnual total retuin of between 5Vo to
8%. The Trustees consider that the Investment performance of 10/0, which was g188ter than this range in the year 31
December 2021, from the income and gains from funds Invested was very satisfactory given market conditions
throughout the year.
Reservè$ pollcy
Whilst the Ttustees wish to continue lo make grants as they have done in the past, it is also thar wish to maximise thè
Trusl's reserves in order lo give a base from which the Trust can tun charitable projects of its own. The TrLJStees review
the level of reserves on an annual basis and consider the current level of reserves of £5,314.568 (2020.. £5,001,490110
be appropriate for the Tiust to maintain. The Trustees aim lo have resèrves in due course producing Sufficient income
and gain5 to fund the proposed annual granl expenditure, without the need lo obtain substantial supportfrom donations.
To achieve thi5 Wlthout re51ricting the Trust's ability lo make grants at the current rate, the Trustees have sel the sum of
£8m- £10rn as thelr reserves target and aim lo achieve this through their investment strategy and donations. There are
no restricted reserve5 {2020.' £Nill.
Recrultm&n( inductlon and tralnlng of trust•e
The compositson of the Charitys board of trustees is reviewed regularly with a view to a¢hieving a spread of expertisè
and age designèd to facilitate the achievemenl of the Charity'5 objeds. The Trustees keep up to date on their
sponslbililies by various means, such as reviewing the Charity Commi38ion website, reading relevant periodlcals and
professional advice.
One of the Truste&s would be made responsible for the induction of any new Trustee whKh involve5 awareness of a
Trustee's responsibilities. the goveming document. administrative procedures, the hi810ry and philosophical approach
of the Trust. A new Trustee would receive copiès of the previous yearfs annual report and accounts and appropriate
publications from the Charity Commi55ion.
Grant maklng pollcy
The trustee8 will consider making giants to organisations Inol individu8181 that fall within its charitable objectives and
invite rel¢vanl appli¢alions, particularty from organi8ations introduced by reliable contacts of the trustees.
The Trustees have complete discretion to pay any grants which fall within the charity's objects. Grants are considered
on the basis ol applications received and the Tru81ees meet lour times a year to discuss and approve existing and new
grants. They also communicate with each other 81 other times for this purpose should the need arise. Where grants,
including overseas grants, are made for specified purposes. they are monitored by the Trustees to ensure that those
purposes and any conditions attached lo the grants ale adhered lo.
Key management p¢rsonnel remuneratlon
The trustees consider the board of trustees as comprising the key man8gement personnel of the charity in charge of
directing and controlling the charity and running and operating the charity on a day lo day ba818. All Ituslees give their
time fre¢ly and no trustee iemuneralion was paid in the yegr12020'. £NIll.
A¢hievements and perfomiancg
The trustees made numerous donations lo charitatle causes in accordan¢e with its objects during the coutse of the
year. Further details are shown in note 5 to the accounts highllghting the number ol grants made in the year being 66
12020.. 63}. The trustees are satisfied that the organisations supported provide a good and valuable SeN1￿ to their
benefi¢kgNes.

THE HEATHSIDE CHARITABLE TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Achlevements •nd perfomiance Iconti
These induded the furtherance of education, the caie of thè young, Sick and eldtrrfy and Ihe provlslon of community
protection and other sarvices.
The organisalions supported are monitored by the Trustees by personal ctsnlacl with officials Of those organisalions,
review ol work actLsally carried oul by them. and their published material 8nd reputation.
Plans for futuro pèrfod$
The aim of the trustees for the next ye8T is to continue ynaking donations to various charities even though the donations
may significantly exceed the ineome generated on the Trust's investments. in which case they will be funded from the
growth in the investment portfolio, reserves or future donations.
Golng concern
The Trustees do not beli8ve there lo be a matèrial uncertainty over going concem due to the level of unreslri¢led
reserves and the fact that the vast rnajority of expenditure is grants paid on a discretionary basis. In view of this. the
Trustees have prepared the accounts on a going concern basis, taking into consideration the twelve months from the
date of signature.
Risk facto
The BO8￿ of Trustees is resrM)n8ible for the management of the risks faced by the charity.
All major risks lo which the charity is exposed have been identified, assessed and contio15 established as appropriate.
Consequonuy the Trustees are satisffied that the major risks have been mitigated.
The Tru$leo8 consider that the main risk that the Trust face5 Is the recoverability of the investment5 held and whether
they will eontinue to generate incomtr in order lo further th6 Trust's objectives via the grant making policy. To manage
the risk the Trustees continually ￿vieW the investment strategy of the Trust lo determine the spread of the investment5,
a¢hi9ved performance and anli¢ipaled performance for the forthcomino year.
The charlty has not been affecied by CovKI-19. Whilst the timing of the recovery from the pandemic is uncertain, the
irustees do r￿t consider there to be a malorial risk to ihe charity.
Publlc Bènèfit
The charity has referred lo the guidan¢& contained in the Charity Commission's general guidance on public bonefil when
reviewing its aims and objectives and in planning future activities. In particular the Tru81ees consider h¢)w planned
activities will contribute to the aims and objectives they have set.
The Ch8rity not erKJage in fund raising activitles to meet its objectives tsr usè any third party or Commercial
fundraisers and therefore has recglved no complaints.

THE HEATHSIDE CHARITABLE TRUST
TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2021
The charity Iru51ees are ￿sponSible for preparing a trustees, annual report and finanaal statement8 in acCOrdar￿e with
applicablè law and United Kingdom accounling standafds, (United Kingdom Generally Accepted Accounting practi￿).
The law applicable to chaiities in England and Wales requires the Iruslees to prepare financial statements for each
rinancial year which gwe a true and fair view of the State of affairs of the chaiity and of the incoming r8$ources and
application of resources of the charity for that period. In preparing the finan¢i818latements. the trustees are required to..
select suitsbSe accounting policies and t￿n apply them consistently..
observe the methods and principles in the applicable charit￿8 SORP.,
make judgements and estimates that are reasonable and prudent..
stale whether 8pplicable accounting standards and statements of recommended practice have been followed.
subject to any departur6s disclosed and eyplained in the financial statements., and.,
prepare the finandal $181ements on the going concèm basi5 unless li is inappropriate lo presume that the
charity will continue in operation.
The tIU51ees are responsible for keeping a¢counting records which disclose with reasonable accuracy al any time the
financial position of the charity and which enablg them lo ensur6 that the financial statements Comply with the charit￿s
Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed.
The truste?$ are responsible for 5afeguardlng the assets of the charity and hence for taking reasonablè steps for thg
prsvenlion and detection of fraud and other irregularilo5.
Dls¢lo¥ure of infomlation to audltors
The trustees confirm that so far as they are aware. there 18 no relevant audit inforniation of which the ¢harily's auditors
are unaware. They have taken all the steps that they ought to have taken as Trustees in order to make themselve5
aware of any relevant audit information and lo establish that the charity's auditors are aware of Ihat infottn8lion.
R&-•ppointment of auditors
A r&solution lo rtrappoint RSM UK Audit LLP, Charteied Accountants. as auditor8 will be put to a meeting of the
Trustees.
By order ol the board
Slr Harry Solomon
Tru$t¢*
Dale i 3 b

THE HEATHSIDE CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE HEATHSIDE
CHARITABLE TRUST
Opinlon
We have audited the fingncial statements of The Heathside Charitable Trust (the 'charlty'} for the year ended 31
Dec8mbei 2021 which comprisè the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement aad
notes to the financial statements, including Signif￿an1 accounting policies. The financial reporting framework that has
been applied in their prepaialion is applicable law and United Kingdom ArGounling Standards, including FRS 102"The
Financial Reporting Standard applicable In the UK and Republic of Ireland" {Uniled Kingdom Generally Accepted
Accounting Practice).
In our opinlon th• financial statemonts..
giv6 a truè and fairviewof the state olthe charity's affairs as at 31 De￿Mber2O2l and of its incoming resources
and application of resources for the year then 8nd8d..
have been property prepared in accordance with Uniled Kingdom Generally Accepted Accounting Pracllc8', and
have be¢n prepared in accordance ￿th the requirements of the Charities Act 2011.
Ba$1$ for oplnlon
We have teen appointed as audi101s under section 144 of the Charities Act 2011 and report in accordan¢e with
rogulalions made under section 1S4 01 th81 Act.
We conducted our audit accordance with Intemational Stsndards on Auditing IUKI {ISAs IUKII and applicable law.
Our responsibilities undor those standards are fL4rther described in the Auditorfs responsibilities for the audit of the
financial statements section of our report. We are independent of the charily in accordance with the ethical requirements
that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard and we have
fu￿1]ed our other elhi¢al responsibilities in accordance with these requirements. We believe that the audit evidenTr we
have obtained is suff￿le￿I and appropriate to provide a basis for our opinion.
Concluslons rèlating to going concem
In auditing the financial 51atemenls, we havè concluded that the trustees, use of the going concern b8$i8 of accounting
in the preparation of the financial statements is appropriate.
Based on the worf( we have perforrned. we have not identified any material unGertainties relating to events or conditions
that. individually or collectively, may cast significant doubl on the chanty's ability lo continue as a going concern foi a
pèriod of al least ￿e1ve months from whon Ihg financAal statemenls are autt)orised for issue.
Our responsibilities and the responsibilities of tho trustsos wth respect to goit¥J concèrn are described in the relevant
sections of this report.
other infomiatlon
The other inforrnation comprises the information included in the Trustees, Report other than the financial statetllents and
our auditor's report thereon. The trustees are responsible forthÈ other information contained within the Twstee5' Report.
Our opinion on the financial slalemenls does not cover tha other infounalion and. we do tKJI express any form of
assurance conclusion Ihereon.
Our reswnsibility is to read the other infomialion and, in doing so, ¢onsider whether tre other Infom)allon is materially
inconsistent with the finan¢l8l 81alemenls or our knowledge obtained in the cour3e of the audit or otherwise appears lo
be materially misstated. If we identify suGh material inconsistencies or appaienl rllalerial misstatements, we are required
to delemiine whether this gives rise to a material misstslement in the financial stat&menls themselves. If, based on the
work wo have perfomied, we condude that there is 8 material misstatement of this olhw infomialion. we are required lo
report th81 la¢L
We have nothing to report in this regard.

THE HEATHSIDE CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE HEATHSIDE
CHARITABLE TRUST
Matters on which we are requlred to rèport by exceptlon
We have nothing to report in respect ol the following matters where the Charities Act 2011 require8 US to report to you
if, in our opinion..
the infomalion given in the finanaal slalemenls is inconsislenl in any material r&specl with the Tntslee8'
Report.. or
sufficient 8ccounling records have not been kept., or
the finane481 $t8ternent5 are not In agreernent with the accounting re¢ords and returns., or
we have not received all the infom)alion and explanations w& requir? for our audit.
R¢$pon¥ibilities of trustees
AS explained more fully in the Statement of TnJstee5' responsibilities set i)ul on page 4. ihe trustees afe responsible for
the preparation of the financial slatements and for being satisfied th31 they give a tDJe and fairview, and for such internal
control as the Iruslees determine is necessary to enable the preparation of financial statements that are free from
material mi$stalernent, whether due to fraud or error.
In preparing the financial stslemenls. the trustees are responsible for assessing the charity's ability to continue as
going concern, disclosing, as applicable. matters related lo going cOn￿M and using the going concern basis ol
accounting unless the trustee3 either intend to liquKlate the ¢harily OT to cease opeialions, or have no realistic altemative
bul lo do so.
AuditoW$ ro$ponsibilitle8 for the audit of the financial statements
Our objeclEves are to obtain reasonable assurance about whèth8r the financial statements as a whole are free from
material mi58tatement, whether due to fiaud or error, and to issue an 8udilorfs report that includes our opinion.
Reasonable assurance is a high level of a55urance, but is not a guarantee that an audit cc>nducled in accordance with
ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and ale
considei8d material if, individually or in the aggregate, they could reasonably be expected to infiuence the economie
deei510r15 of users taken on the basis of these financial statements.
The extent to whlch th¥ audit was considered capablè of d¥tecting irregularltles, Including fraud
Irregularities arè instances of non-compliance with laws and regulations. The Objectives of our audit are lo obtain
sufficient 8ppropriale audit evidencè warding compliance with laws and regulalions that havè 8 direct effect on tha
delemination of material amounts and disclosures in the financial statements, lo perfomi audit procedures to help
identify instances of non-compliance with othoi laws and regulations that tllay have a material effed on the financial
statements, and lo respond appropriately to identified or suspected non-cornpliance with laws and iegulations identified
during th8 audit.
In ielation Its fraud, the objectives of our audll are to identify and assess the risk of material misstatement of the financial
statements due lo fraud, lo obiain sufficient appropriate audit evidence regarding the assessed risks of materi81
misstatsrnerit due lo fraud through designing and implementing appropriate responses and lo respond appropriately lo
fraud or Sus￿Cled fraud identified during thè audit.
However, il 15 the primary responsibility of managemem, with the oversight of those (a)arged with govemance, to en5UTe
that the entity's operations are conducted in accordance with the provision5 Of 18ws and regulations and lor the
prevenlion and dete¢tion of Itaud.

THE HEATHSIDE CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE HEATHSIDE
CHARITABLE TRUST
In identtying and assessiro risks of material misstalemenl in respect of irregularities, Including fraud, the audit
engagement team..
obtained an understanding of the nature of the sector, including the legal and regLJlalory framework, thbl the
charity operates in and how the Gharity is complying with the legal and regulatory framework..
inquired of management. and those chaiged with govemance, about their own identthcation and a55essment
of th¢ risks of irregularities, inGluding any known actual, suspected or alleged instances of fraud,.
discussed rnatters about non-complian￿ with laws and regulations and how fraud might occur including
assessment of how and where the ffinancial statements may be susceptible to frakJ(S.
As 8 resuK of these procedur¢s we consider the most significant laws and regulations that have a direct tmpact on the
financial statements are FRS 102, Charides SORP {FRS 1021, Charities Act 201 1, the chaiity's governing docutnenL
and tax legislation. Vve perfom16d audit procedures to detéct non-compliances which may have a mate¥ial impact on the
financial slalemenls which included reviewirng the financial Statements including thè Trustees, Report, remaining alert to
any new or unusual transactions which may r¥)t be in ac￿rdanCe with the governing docurnents, inspecting any
correspondence with local tax auth()rilies.
The most significant laws and ￿gUlationS that have an indirect IMp￿t on the financial statements are those in relation
lo the use of overseas grants paid IThe Money Laundering, Terrorist Financing and Transfef of Funds Regulations 2017,
the Bribery Act 20101. We performed audit procedures to inquire of management and thos8 charged with govemance
whether the charity is in compliance with these law and iegulalions and inspected correspondence wlh grant recipients
lo ensure controls over monitoring of gr8n18 are operating effectively.
The audit engagement team identified the risk of managernenl override of controls as the area where the financial
statement5 were most SU5ceplible to material misstatement due tr) fraud. Audit procedures p8rformed ineluded but were
not limited to tesling manual joumal entries and other adjustments. evaluating the business rationale in relation to any
significant, unusual transactions and transactions entered into outside the noirnal course of business. challenging
judgments and esb'rnates.
A further description of our responsibilities for the 8udit of the Iinancial statements is provided on the Financial Reporting
Coun(xl'3 website at http.'Ilwww.frc.org.ukJauditorsresponsibilltl$s. This description forms part of our auditorfs report.
U8e of our report
This report is made solely lo the charity's trustees as a body, in accordance with the Charities Act 2011. Our audit work
has been undertaken $0 that we might stale to thg charity's trusltres those matters we are required to slate to thern in
an audiloT'S report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume
responsrbility to anyone other than th8 charity and the charity's Iru81ee8 as a body, lor our audit work. lor this report, or
for the opinions we hav8 fomied.
LLP
SM UK Audit LLP
Slatulory Auditor
Chartered Accountants
25 Farrin9don Street
London EC4A 4AB
RSM UK Audit LLP 15 eligible to act as an auditor In terms of secb.on 1212 of the Companies Act 2006.
26th October 2022

THE HEATHSIDE CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2021
Unrestricted funds
Total
2021
Total
2020
Notg
Income from:
Donotion5
Investmen15
325,729
64,939
258,075
59.245
Total
390,668
317,320
Expenditure on:
Raising fund5 and propety expenses
Charitable activities
25,534
464,309
17,756
415,956
Total
489,843
433,712
Net expendtture before
gain on investments
199,1751
{116,3921
Gain on investments
412.253
108.520
Nel movements in fvnds
313,078
{7.8721
Reconclllatlon of funds-.
Total fijnds brought forward
5,001,490
5.(x)9,362
Total funds carrled forward
5,314,568
5,001,490
Ail recognised gains and losses are included in the Statèment of Financial Activities.

THE HEATHSIDE CHARITABLE TRUST
BALANCE SHEET
AS AT31 DECEMBER 2021
2021
2020
Notes
Fixed assets
Investments
4,750.764
4,253,197
Current assets
Debtors
Cash at bank and in hand
348,733
236,091
374,140
391,405
Total current asset8
584,824
765,545
Current liabilities
Creditors.. amounts falling due
within one year
{21,0201
117,2521
Net current assèts
563,804
748,293
Net assets
5,314,568
5,001.490
FUNDS
Unrestrlcted funds
10
5.314,568
5.001,490
These financial statements were approved by the Board of Trustees on Q Oth￿. 2b2X*
for issue and signed on its behalf by..
and authorised
arry Solomon
Trustee
ruste

THE HEATHSIDE CHARITABLE TRUST
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2021
Notes
2021
2020
Cash flows from operating actlvitigs
Nel cash used by operations
11
{134,9391
{202,765}
Cash flows from Investlng actlvities:
Interest receivable
Dividenols and rents from investment5
Acquisition of investments
Disposal of investments
31,750
33,189
1623,938)
538,624
31,979
27,265
1682,2251
948,772
Net cash {used In)Ifrom investlng activities
120,3751
325,791
Net Idecrease}lincrease Sn cash and cash equivalents
1155,3141
123,026
Cash and Cash equivalents at beginning of year
391,405
268,379
Cash and cash equivalents at end of year
236,091
391,405
10

THE HEATHSIDE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
Accounting pollcles
Accounting convgntlon
The accounts Ifinancial slatementsl have been prepared under the historical cost convention with items
recognised at cost or transaction value unless otherwise staled in the relevant notelsl to these accounts.
The financial statements have been prepared in accordance with the Statement of Recommended Practice-.
Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 01 January 2019 and the
Financial Reporting Stsndard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the
Charities Act 2011.
The accounts have been prepared lo give a 'lrue and fail view and have departed frorn the Charities
(Accounts and Reports) Regulations 2008 only to the exlenl required lo provide a 'lrue and fair view,. This
departure has involved following Accounting and Reporting by Charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021
issued on 01 January 2020 other than the Accounting and Reporting by Charities., Statement of
Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The finan¢ial statements are prepared in sterling, which is the functional eurrency of the charity. Monetary
amounts in these financial statements a￿ rounded lo the nearest whole £, except where otherwise indicated.
Public beneflt entity
The charity constilules a public benefit entity as defined by FRS 102. The charity Iregislered no. 326959) is
a trust that is domiciled in England and Wales. The principal address of the charity is Hillsdown House, 32
Hampstead High Street, London, NW3 1QD.
Going concem
The trustees do not believe there is a material uncertainty over going concem due lo the level of unrestricted
reserves and the fact that the vast majority of expenditure is grants paid on a discretionary basis. Therefore
the trustees are comfortable that the charity's reserves will ensure it is able to endure any residual impact of
the Covid-19 pandemic or other economic impacts over a period of 12 months from the date of signature of
these financial statements.
Accordingly, the Trustees do not consider there lo be material uncertainties and continue to adopt the going
concern basis in preparing the financial statements as outlined in the Statement of Trustees, Responsibilities.
Incomg
All income is recognised once the Trust ha8 entitlement to the income when it is probable that the income
will be received and the amount of income receivable can be measured reliably.
Bank interest, rental income and dwidends are accounted for on a receivable basis. All other income is
included in the account$ on a receivable basis when the SORP income recognition Criteria of entillemenl,
probability and measurement have been met.
Donations made by way of Gift Aid are reflected in the year in which they are receivable.
Expendlture
Grants Payable
Grants payable are payments made lo third parties in the ftjrtherance of the charitable objects of the Trust.
In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant
award. The nolificalion gives the recipient a reasonable expectation that they will receive the one year or
mulli-ye2r grant. Grant award5 that are subject lo the recipient fulfilling performance conditions are only
accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching
to the grant 1$ outside of the control of the Trust.

THE HEATHSIDE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
Accounting policie$ (cont)
Support and governan¢e costs
Governance costs comprise all costs involving the public accountability of the charity and its compliance
with regulation and good practice. These costs include costs related lo audit and legal fees and are included
in expenditure on Gharitable aclivib'es in the Statement of Financial Activities.
All costs are inclusive of irrecoverable VAT and are accounted for on an accruals basis.
Funds
Unrestricted funds comprise accumulated surpluses and defi'cits on general funds. They are available for
use at the discretion of the Trustee$ in fvrtherance of the general Charitable objectives.
Investments
Quoted investments are staled at market value at the balance sheet date.
Unquoted investments are held al historical cost unless there is evidence which the trustees deem gives a
more reliable measLtrement of fair value.
Investment properties are slated at market value al the balance sheet date. The valuation of the properties
are derived from online valuations of Comparable properties by eslale agents, current market rents and
yields, adjusted if necessary for condition of the properhes.
The investments are assessed for impairment al each reporting dale and any impairment losses, or reversals
of impairment losses are recognised immediately In the Statement of Financial Activities.
Profits and losses on disposals and unrealised gains and losses on revaluations of investments are shown
in the Statement of Financial Activities a5 a single item under the heading 'Gains on Investments..
Donated Goods and Services
The Trust receives adminislralive support and accounting service5 through a company assoclaled with the
Trustees. The value of this support is considered lo not be material and accordingly is not recognised in
these financial slatemenls.
Taxatlon
The Healhside Charitable Trust is a registered charity and as such its income and gains falling within
sections 471 to 489 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains
Act 1992 are exempt from corporation tax to the extent they are applied to its charitable activities.
Flnanclal Instruments
The Trust has elected to apply the provisions of Section 11 'Basic Financial Instruments" and Section 12
"Other Financial Instruments Issues. of FRS102 in full, to all ils financial instruments. Financial instruments
are classified and accounted for according to the substance of the contractual arrangement as financial
assets or financial liabilities. The Trust onty has basic financial inslrumenls.
Flnancial assets
Basic financial assets. which include accrued income, are initially measured at transaction price including
transaction costs and are subsequently carried at amortised cost.
Flnanclal Ilabilities
Basic financial liabilities, which include accruals. are initially measured al Iransacllon price and are
subsequently carried al amortised cost.
Foreign currency assets and transactions
Transactions in foreign currencies are recorded at the rale ruling at the dale of transadion. Bank balances
denominated in foreign currencies are translated at the rale of exchange ruling at the balance sheet dale.
All foreign exGhange differences are taken to the Stslemenl of Financial Activities.
12

THE HEATHSIDE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
Accountlng pollcles Icont)
Crltlcal Judgements and accounting estimates and assumptlons
Accounting estimates and jud9ements are continually evaluated and are based on historical experience and
other factors, including expectations of future events that are believed lo be reasonable under the
circumstances. The Trust makes eslimal95 and assumptions Concerning the future. The resulting accounting
eslimales and assumptions will, by definition, seldom equal the related actu81 results. Apart from estimating
the valuation of the investment properties and unquoted investments, the Trustees do not consider there lo
be any significant accounting estimates or assumptions and judgements when preparing the financial
slatemenls.
Income from Investments
2021
2020
Dividends receivable IUKI
Interest received
Rental income
15,009
31,750
18,180
6,126
31,979
21.140
64,939
59,245
Expenditure on raising fund$ and property expenses
2021
2020
Investment management costs
Propety expenses
16.863
8,671
9,475
8.281
25,534
17,756
Expenditure on charitsble actlvities
2021
2020
Grants payable- note 5
Bank charges
Foreign exchange {gainslllosses
Audit fees current year
450.413
382,476
32
16.636
16.812
12.5981
16,494
464,309
415,956
The trustees are the key management of the charity. The charity employed no staff during the year12020.'
none).
Grants payable
During the year the charity made 66 grants tolalling £450,413 12020.. 63 grants totalling £382,476) lo a
variety of charities in accordance with the grant making policy. All grants were made to institutions.
13

THE HEATHSIDE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
Grants payable (cont)
An analysis of the grants paid by the charity is shown below l°hl'.
Healthcare
Education
Welfare
Other
2021
46Y.
28Yo
2020
35010
100¥0
A full list of grants paid is available on request in wrtting from the charity's prineipal address which is shown
on the page detailing legal and administrative information.
Tru$teBs' remuneration and connected party transactions
Trustees, remuneratlon
No remunerab'on or reimbursed expenses were paid lo the tru$tees12020'. £Nil}
Donations..
The charity received donations from Sir Harry Solomon of £229,741 12020.. £70,455), Lady Judith Solomon
of £38,790 12020.. £129,268), Daniel Solomon of £Nil 12020.. £18,500), Louise Jacobs of £20,000 12020..
£Nill and Juliet Solomon of £10.00012020'. £Nil} respectively. These were exclusive of Gift Aid re¢overed.
Grants..
The charity made grant5 tolalling £50.000 12020-. £50,000) to The Portland Trust, of which Sir Harry
Solomon, is also a trustee.
There were also three grants tolalling £42.500 {2020.' £25,500) to charities of which other Trustees are a
trustee. These grants of £25,000. £5,000 and £12,500 respectively were paid lo UJIA, Spread a Smile and
Better World ChaThly Limited.
other
During the year the Tmsl made an interest free loan of £6,81312020.' £8031 to Qtec Analytics Limited, a
company connected to Sir Harry Solomon. At the year end date, an amount of £48,81112020'. £41,998) was
owed by the company lo the Trust and is fully recoverable.
14

THE HEATHSIDE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
Flxed asset investment
Investment
Property
Quoted
Unquoted
Total
Market value at 1 January 2021
Additions
Disposals
Revaluation In year
400,000
2.046,559
623,938
1538,624)
203,429
1,806,638
4,253,197
623,938
{538,6241
412,253
208,824
Market value al 31 December 2021
400,000
2,335,302
2,015,462
4.750,764
Cost at 31 December 2021
477,363
1,977,842
1,191,422
3.646,627
2021
2020
Material quoted investments grealer than 50/0 by value..
UBS - Resolution Fund UK
U8S- Sustainable Funds Portfolio
Artemis Alpha
636,772
1.294,744
152,982
576,780
1.079,532
150,311
The Trustee5 have adopted a policy of including Sustainable Funds in the managed portrolio.
8 Analysis of current assets
2021
2020
Other debtors
Cash al bank and in hand
348,733
236,091
374,140
391,405
584,824
765,545
9 Analysis of current Ilabilities
2021
2020
Creditors due within one year
Accruals
21,020
17,252
21,020
17,252
15

THE HEATHSIDE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
10 Movement in funds durlng the year
At1
January
2021
At31
Gains and Dgcember
losses
2021
Income Expenditure
Unrestricted funds
5,001,490
390,668
1489.843} 412,253 5,314,568
Movement in funds during the prior
year
At1
January
2020
At31
Gains and December
losses
2020
Income Expenditure
Unreslricled funds
5,009,362
317,320
1433,7121
108,520 5,001.490
11 RBconclllatlon of net Incomel(expenditurel to net cash flow from operatlng activitles
2021
2020
Net inGomel{expendrture) for the year
313,078
17,872)
AdJu8tments for:
Dividends. interest and rents from investments
Gains on investments
164,9391
1412,253)
159,24SI
1108,5201
Operating cash flows before movements in working capital
Decrease in olhef debtors
Increasel{Decreasel in accruals
1164,1141
1175,6371
25,407
3,768
1,971
{29,1001
Cash used in operatlons
{134,9391
{202,7651
12 Flnanclal Instruments
The carrying amount of the Trust's financial instruments at 31 December were..
2021
2020
Financial assets.. hekl at fair value
4,350,764
3,853,197
16