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Company Limited by Guarantee |
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Company Limited by Guarantee |
Financial Statements |
Page |
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Trustees' annual report (incorporating the director's report) |
1 |
Independent auditor's report to the members |
6 |
Statement of financial activities (including income and expenditure account) |
11 |
Statement of financial position |
12 |
Statement of cash flows |
13 |
Notes to the financial statements |
14 |
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Company Limited by Guarantee |
Trustees' Annual Report (Incorporating the Director's Report) |
Registered charity name |
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Charity registration number |
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Company registration number |
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Principal office and registered |
Suite 1, First Floor |
office |
1 Duchess Street |
London |
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W1W 6AN |
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(Appointed
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(Resigned
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Auditor |
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Chartered accountants & statutory auditor |
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Suite 1, First Floor |
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1 Duchess Street |
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London |
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W1W 6AN |
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Trustee |
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Company Limited by Guarantee |
Independent Auditor's Report to the Members of
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(Senior Statutory Auditor) |
For and on behalf of |
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Chartered accountants & statutory auditor |
Suite 1, First Floor |
1 Duchess Street |
London |
W1W 6AN |
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Company Limited by Guarantee |
Statement of Financial Activities |
(including income and expenditure account) |
2023 |
2022 |
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Unrestricted funds |
Endowment funds |
Total funds |
Total funds |
|
Note |
£ |
£ |
£ |
£ |
Donations and legacies |
4 |
– |
– |
– |
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Investment income |
5 |
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– |
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-------- |
---- |
-------- |
------------ |
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Total income |
|
– |
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-------- |
---- |
-------- |
------------ |
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Expenditure on charitable activities |
6 |
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– |
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------------ |
---- |
------------ |
------------ |
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Total expenditure |
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– |
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------------ |
---- |
------------ |
------------ |
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Net (gains)/losses on investments |
9 |
(
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– |
(
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------------ |
---- |
------------ |
------------ |
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Net (expenditure)/income and net movement in funds |
(
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– |
(
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------------ |
---- |
------------ |
------------ |
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Total funds brought forward |
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------------ |
------------- |
------------- |
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Total funds carried forward |
(
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------------ |
------------- |
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Company Limited by Guarantee |
Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
£ |
Investments |
12 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
13 |
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--------- |
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Net current assets |
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------------- |
------------- |
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Total assets less current liabilities |
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------------- |
------------- |
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Net assets |
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------------- |
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Endowment funds |
16,921,808
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Unrestricted funds |
25,719
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Total charity funds |
15 |
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Trustee |
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Company Limited by Guarantee |
Statement of Cash Flows |
2023 |
2022 |
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£ |
£ |
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Operating cash flows |
(5,393,836) |
6,609,266 |
------------ |
------------ |
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Cash generated from operations |
(
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------------ |
------------ |
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Net cash (used in)/from operating activities |
(
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------------ |
------------ |
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Purchases of investments |
– |
(2,100,000) |
Proceeds from sale of investments |
300,000 |
1,200,000 |
------------ |
------------ |
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Net cash from/(used in) investing activities |
|
(
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------------ |
------------ |
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Net (decrease)/increase in cash and cash equivalents |
(
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Cash and cash equivalents at beginning of year |
5,828,968 |
119,702 |
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Cash and cash equivalents at end of year |
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Company Limited by Guarantee |
Notes to the Financial Statements |
Endowment Funds |
Total Funds 2023 |
Endowment Funds |
Total Funds 2022 |
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£ |
£ |
£ |
£ |
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Grants |
– |
– |
8,521,808 |
8,521,808 |
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Unrestricted Funds |
Total Funds 2023 |
Unrestricted Funds |
Total Funds 2022 |
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£ |
£ |
£ |
£ |
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Income from cash investments |
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-------- |
-------- |
------- |
------- |
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Grant funding of activities |
Support costs |
Total funds 2023 |
Total fund 2022 |
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£ |
£ |
£ |
£ |
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Grants |
5,019,142 |
370,961 |
5,390,103 |
2,350,721 |
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------------ |
--------- |
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Support costs |
Total 2023 |
Total 2022 |
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£ |
£ |
£ |
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Staff costs |
37,972 |
37,972 |
– |
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Investment management fees |
94,795 |
94,795 |
104,906 |
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Custody fees |
10,000 |
10,000 |
10,000 |
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Audit and accountancy fees |
15,865 |
15,865 |
27,600 |
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Other professional fees |
48,150 |
48,150 |
56,172 |
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Foreign currenncy loss on translation |
164,179 |
164,179 |
15,084 |
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--------- |
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370,961 |
370,961 |
213,762 |
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--------- |
--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
|
Center for European Policy Analysis |
185,872 |
39,855 |
Royal Institute of International Affairs (Chatham House) |
98,772 |
58,000 |
City University of London |
40,000 |
– |
Doc Society |
50,000 |
– |
Human Rights Project Management |
2,097,332 |
906,327 |
Analitika One Limited |
585,750 |
458,600 |
Royal College of Music |
158,280 |
133,900 |
Eastern Europe Research Foundation |
1,186,939 |
111,018 |
Free Russia Foundation |
– |
81,596 |
Civic ideas |
– |
66,338 |
Les Steppes Productions |
– |
43,657 |
Writers and Scholars International Limited |
– |
40,000 |
Explorer Picture Ltd |
40,000 |
40,000 |
W12 Productions Ltd |
231,735 |
– |
Pushkin House |
60,000 |
– |
Glosbec |
52,005 |
– |
Grain Media Limited |
40,415 |
– |
Institute Andrei Sakharov |
44,098 |
– |
Other grants less than £40,000 |
147,944 |
157,668 |
------------ |
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Total grants |
5,019,142 |
2,136,959 |
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Unrestricted Funds |
Total Funds 2023 |
Unrestricted Funds |
Total Funds 2022 |
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£ |
£ |
£ |
£ |
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Gains/(losses) on other investment assets |
|
|
(
|
(
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------------ |
------------ |
--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Wages and salaries |
|
– |
Social security costs |
|
– |
Employer contributions to pension plans |
875 |
– |
-------- |
---- |
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– |
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-------- |
---- |
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2023 |
2022 |
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No. |
No. |
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Number of staff |
1 |
– |
---- |
---- |
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Listed investments |
|
£ |
|
Market value |
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At 1 January 2023 |
15,808,909 |
Securities purchased |
– |
Sales proceeds on disposal |
(300,000) |
Investment gains - unrealised |
1,117,507 |
Investment gains for the year - realised |
118,315 |
------------- |
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At 31 December 2023 |
16,744,731 |
------------- |
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Carrying amount |
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At 31 December 2023 |
16,744,731 |
------------- |
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At 31 December 2022 |
15,808,909 |
------------- |
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2023 |
2022 |
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£ |
£ |
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Collective investment funds |
16,744,731 |
15,808,909 |
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2023 |
2022 |
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£ |
£ |
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Historical cost of portfolio (excluding cash on deposit) |
9,826,846 |
9,998,708 |
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2023 |
2022 |
|
£ |
£ |
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Accruals and deferred income |
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Other creditors |
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--------- |
--------- |
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At 1 Jan 2023 |
Income |
Expenditure |
Transfers |
Gains and losses |
At 31 Dec 2023 |
|
£ |
£ |
£ |
£ |
£ |
£ |
|
General funds |
2,484,002 |
95,996 |
(5,390,103) |
1,600,000 |
1,235,824 |
25,719 |
------------ |
-------- |
------------ |
------------ |
------------ |
-------- |
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At 1 Jan 2022 |
Income |
Expenditure |
Transfers |
Gains and losses |
At 31 Dec 2022 |
|
£ |
£ |
£ |
£ |
£ |
£ |
|
General funds |
5,561,974 |
9,928 |
(2,350,721) |
– |
(737,179) |
2,484,002 |
------------ |
------- |
------------ |
---- |
--------- |
------------ |
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At 1 Jan 2023 |
Income |
Expenditure |
Transfers |
Gains and losses |
At 31 Dec 2023 |
|
£ |
£ |
£ |
£ |
£ |
£ |
|
Endowment Fund |
18,521,808 |
– |
– |
(1,600,000) |
– |
16,921,808 |
------------- |
---- |
---- |
------------ |
---- |
------------- |
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At 1 Jan 2022 |
Income |
Expenditure |
Transfers |
Gains and losses |
At 31 Dec 2022 |
|
£ |
£ |
£ |
£ |
£ |
£ |
|
Endowment Fund |
10,000,000 |
8,521,808 |
– |
– |
– |
18,521,808 |
------------- |
------------ |
---- |
---- |
---- |
------------- |
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Unrestricted Funds |
Endowment Funds |
Total Funds 2023 |
||
£ |
£ |
£ |
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Investments |
– |
16,744,731 |
16,744,731 |
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Current assets |
558,055 |
177,077 |
735,132 |
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Creditors less than 1 year |
(532,336) |
– |
(532,336) |
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--------- |
------------- |
------------- |
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Net assets |
25,719 |
16,921,808 |
16,947,527 |
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--------- |
------------- |
------------- |
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Unrestricted Funds |
Endowment Funds |
Total Funds 2022 |
||
£ |
£ |
£ |
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Investments |
– |
15,808,908 |
15,808,908 |
|
Current assets |
3,116,068 |
2,712,900 |
5,828,968 |
|
Creditors less than 1 year |
(632,066) |
– |
(632,066) |
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------------ |
------------- |
------------- |
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Net assets |
2,484,002 |
18,521,808 |
21,005,810 |
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------------ |
------------- |
------------- |
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At 1 Jan 2023 |
Cash flows |
At 31 Dec 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(5,093,836) |
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------------ |
------------ |
--------- |
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