2023-03-31-accounts - The Mackintosh Foundation

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1	Report ofthe			Trustees
8	Report ofthe			independent		auditor
12	Statement		of	financial	activities (incorporating		the income and expenditure			account)
13	Balance sheet
14	Statement		of	cash flows
15	Notes forming			part of	the	financial statements
Reference		and administrative			details
Trustees/Directors						Sir Cameron Mackintosh
						N D Allott OBE
						A P Constable
						A A Finch CBE
						N I M Mackintosh
						R FS Noble OBE
						F R Pappas
						B G Peerless
						T T E Schonberg
General	Secretary					R T Knibb, ACA
Company		Secretary				RT Knibb, ACA
Registered		Office				1-2 Bedford Square, London, WC1B 3RB
Company		Number:				2239812
Charity Registration				Number:		327751
Auditor						BDO LLP, Arcadia	House,	Maritime	Walk, Ocean Village, Southampton,
						SO14 3TL
Solicitors						Charles Russell Speechlys		LLP, 5	Fleet Place,	London,	EC4M 7RD
Bankers						National Westminster Bank		pic, Covent Garden		Branch,	London, WC2E 8NL
Investment		Advisor				A J Hutton Limited,	Third Floor, 20		Old Bailey,	London,	EC4M 7AN

Achieveinsnts and perfonnance
The table below shows ihe split of the		donations	by category.
Note: percentage figures are rounded		to the nearest whole number.
			2023	2023	2022	2022
Category			K)	(%)	(6)	(%)
Children and Education			36,854		72,909	53
Commur)ity Projects			129,500	14	5,000
The Environment			78,000
The Homeless			44,600
Medical			50,795		6,700
			338,649	37	84,609	62
Theatre and The Performing Theatre buildings Theatre company development Children's theatre	Arts		150,000 10,400 1,000	16 1	3,000 6,000 350
Promotion of new theatrical and musical works Theatre related pastoral care Theatrical training and education			5,760 21,280 395,231	1 2 43	15,000 21,554 7,300	11 16 5
			683,661	63	53,204	38
Total Donations year ended 31 March 2023			922,310	100	137,813

			Unrestricted	Endowment	Total	Total
		Note	funds	funds	2023	2022
			5	6	E
Income and endowments Donations and legacies Investments	from:	2 3	162,291 444,614		162,291 444,614	13,678 56,881
Total income			606,805		606,806	70,559
Expenditure on: Charitable activities		4	1,007,485		1,007,486	179,327
Total expenditure			1,007,485		1,007,486	179,327
Net expenditure and net
movement in funds before (losses)/gains on investments			(400,680)		(400,680)	(108,768)
Net (losses)/gsins on investments		8	(568,466)		(658,466)	694,387
Net (expenditure)/Income			(959,136)		(959,136)	585,619
Reconciliation offunds Total funds brought forward			14,224,055	640,000	14,864,055	14,278,436
Total funds carried forward			13,264,919	640,000	13,904,919	14,864,055

Company number		2239812	2239812	Note	2023 E	2023 E	2022 E	2022 E
Fixed assets Investments						11,869,952		12,041,678
Current assets Cash at bank and	in	hand			2,472,373		3,171,660
					2,472,373		3,171,660
Liabilities
Creditors: amounts within one year		falling	due	9	270,406		274,600
Net current assets						2,201,967		2,897,060
Total assets less liabilities	current					14,061,919		14,938,738
Creditors: amounts after more than one		falling year	due	10		157,000		74,683
Total net assets						13,904,919		14,864,055
The funds of the charity Expendable endowment General fund			funds			640,000 13,264,919		640,000 14,224,055
Total charity funds				13		13,904,919		14,864,055

			Note	2023	2022
				E	E
Cash (used in) operating	activities		14	(767,071)	(450,430)
Cash flows from Investing Investment income Purchase of Investments	activities			67,784	573 (5,600,000)
Cash provided by/(used in) investing		activities		67,784	(5,599,427)
(Decrease) in cash in the	year			(699,287)	(6,049,857)
Cash at the beginning of	the year			3,171,660	9,221,517
Total cash at the end ofthe year				2,472,373	3,171,660

3	Investment	income								2023	2022
										E	E
	Bank interest Amounts received from Income from investments		UK investment (note 8)				property			11,476 66,308 376,730	573 56,308
										444,614	56,881
4	Charitable expenditure									2023	2022
										E	6
	Analysis of	expenditure		on charitable				activities
	Donations to institutions Support and governance			costs (note 5)						922,310 85,175	137,813 41,514
										1,007,485	179,327
	The number	of donations			during	the year awarded			to institutions	was 93 (2022 —22). No	donations were
	awarded to	individuals	(2022- nil).
										2023	2022
										E	E
	Donations	by type of	activity
	Children and Education									36,864	72,909
	Community Projects The Environment									129,600 78,000	5,000
	The Homeless									44,600
	Medical									50,795	6,700
	Theatre and	the Performing			Arts					683,661	53,204
										922,310	137,813

4	Charitable expenditure (coniinued)
	Donations during the year greater and equal tof5,000were as follows:	2023
	Donation recipient	E
	Theatres Trust, The Stephen Sondheim Foundation, The Mercury Musical Developments Majjistral Park (Heritage Parks Federation) Royal Welsh College of Music and Drama DEC (Disasters Emergency Committee) Kiln Theatre	150,000 107,500 90,000 75,000 60,000 50,000 28,345
	Felix Project, The Trussell Trust, The British Youth Music Theatre	25,000 25,000 22,000
	St Mungo Association Charitable Trust Royal Academy of Music MGCfutures Ltd	20,000 16,350 15,000
	Royal Central School ofSpeech & Drama BRITSchool, The Hamilton Education Programme Acting for Others Centrepoint Soho Pimlico Opera Regent's Park Theatre Ltd Wilderness Foundation UK Prior Park Educational Trust Musicians' Union Benevolent Fund	15,000 12,000 10,754 10,520 10,000 10,000 10,000 10,000 9,000 5,260
	NHS Charities Together	5,260
		791,989
	Grants of65,000or less	130,321
	Total	922,310

Support and governance costs	Support and governance costs	2023	2022
		E	E
Legal and administration Auditor's remuneration Other costs Donated services and	fees —audit services facilities	10,720 16,200 255 68,000	15,391 12,600 23 13,500
		85,175	41,514

to day management of and facilities figure.	the c	harity. These	costs are included in the	E58,000(2022 -E13,500)dona	ted services
Allocation ofsupport	and	governance	costs	2023 E.	2022 E
Children and education Community projects The Environment The homeless Medical Theatre and the performing		arts		3311 11,959 7,203 4,110 4,691 53,901	21,963 1,506 2,018 16,027
				85,175	41,514

Creditors:	amounts	falling due within one year	2023f	2022
Accruals Donation commitments Other creditors			16,000 204,500 50,906	12,600 262,000
			270,406	274,600

Creditors: amounts	2023	2022
	E	6
Donation commitments Other creditors	167,000	24,000 50,683
	157,000	74,683

Movement in recognised provision	an	d funding commitments during the year
			Donation
			commitments
			6
Donation commitments recognised at Donations paid during the year New donation commitments in year		1 April 2022	286,000 (347,000) 422,500
Amount of donation commitments	recognised as at 31 March 2023		361,600
There are no performance conditions		attached to these donations.
Expendable Endowment Funds
Market value offund at beginning	ofyear		640,000
Increase in market va(ue in year
lffdatendofe	r		640,000

Analysis of net	assets between	assets between	assets between	Funds			Expendable
						General	Endowment
						Fundf	Funds 6	Total 6
Fund balances	at 31 March 2023			are represented	by:
Investments current assets						11,219,952 2,472,373	640,000	11,859,952 2,472,373
Creditors: amounts Creditors: amounts		falling due falling due	within one year in more than one year			(270,406) (157,000)		(270,406) (157,000)
						13,264,919	640,000	13,904,919
							Expendable
						General	Endowment
						Fund 6	Fundsf	Total 6
Fund balances	at	31 March 2022		are represented	by:
Investments Current assets						11,401,678 3,171,660	640,000	12,041,678 3,171,660
Creditors: amounts Creditors: amounts		falling due falling due	within one year in more than one		year	(274,600) (74,683)		(274,600) (74,683)
						14,224,055	640,000	14,864,055

Statement offinancial acti	vities as at	31 Ma	rch 2022
				Unrestricted	Endowment	Total
			Note	funds f	funds	2022
Income and endowments	from:
Donations and legacies Investments				13,678 56,881		13,678 56,881
Total income				70,559		70,559
Expenditure on: Charitable expenditure			4	179,327		179,327
Total expenditure				179,327		179,327
Net (expenditure) and net	movement	in
funds before gains and losses on Investments				(108,768)		(108,768)
Net gains on investments				554,387	140,000	694,387
Net income				445,619	140,000	585,619
Transfers between funds
Net movement in funds				445,619	140,000	585,619
Reconciliation offunds
Total funds brought forward				13,778,436	500,000	14,278,436
Total funds carried forward				14,224,055	640,000	14,864,055