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2022-03-31-accounts

Charity Registration No. 1009819

Company Registration No. 02655110 (England and Wales)

THE JEWISH MUSEUM LONDON

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

THE JEWISH MUSEUM LONDON

LEGAL AND ADMINISTRATIVE INFORMATION

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||| |---|---| |Trustees|J Beaumont (Treasurer)| |E Cleaver| |D Egan| |D Korski| |G Koutsika| |R Swerling| |D Meller| |A Mwense| |T Persey| |N Viner (Chair)| |K Webb-Lamb| |Senior Leadership Team| |Trustees convene as a board at the bi-monthly board meetings and make policy and strategy decisions and delegate the| |responsibility for implementing decisions and managing work to senior staff. In 2021/22 the Senior Leadership Team| |comprised of:| |F Jeens, Museum Director| |D Stein, Director of Finance and Operations, until 20 April 2022| |Royal Patron|Former HRH the Prince of Wales| |President|The Rt. Hon. Lord Woolf| |Honorary Life President|Lady Wendy Levene| |Vice-President|Robert Craig| |Charity number|1009819| |Company number|02655110| |Registered office|Raymond Burton House| |129-131 Albert Street| |Camden Town| |London| |NW1 7NB|

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Trustees convene as a board at the bi-monthly board meetings and make policy and strategy decisions and delegate the responsibility for implementing decisions and managing work to senior staff. In 2021/22 the Senior Leadership Team comprised of:

THE JEWISH MUSEUM LONDON

LEGAL AND ADMINISTRATIVE INFORMATION

Auditors HW Fisher LLP Acre House 11-15 William Road London NW1 3ER United Kingdom Bankers Coutts & Co 440 Strand London WC2R 0QS United Kingdom Solicitors Bates Wells 10 Queen Street Place London EC4R 1BE United Kingdom

THE JEWISH MUSEUM LONDON

CONTENTS

Page
Trustees' report 1 - 8
Independent auditor's report 9 - 11
Group statement of financial activities 12 - 13
Summary group income and expenditure account 14
Group and charity balance sheets 15
Group statement of cash flows 16
Notes to the group financial statements 17 - 30

THE JEWISH MUSEUM LONDON

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2022

The Trustees present their report and financial statements for the year ended 31 March 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Articles of Association, the Companies Act 2006, Charities Act 2011 and "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) (effective 1 January 2019)".

OBJECTIVES AND ACTIVITIES

Our Museum tells the story of the history and heritage of Jewish people in Britain through universal themes of migration, family, faith and culture. Our mission is to create a world where all minority communities are understood, respected and valued.

Our learning programmes, partnerships, events, and exhibitions encourage a sense of discovery and aim to provoke questions, challenge prejudice, and encourage understanding.

ACHIEVEMENTS AND PERFORMANCE

Following the 16-month lockdown closure of the Museum, in June 2021 we were finally able to open our doors to the public again. This was an exciting milestone following a period of extremely challenging, busy, and fruitful digital engagement and strategy work. Whilst we are hugely proud of our ongoing digital engagement, we are delighted to welcome visitors and schools back into the Museum in person. and collaborative than ever.

The reopening process saw a lot of change at the Museum, including welcoming six new Trustees to the Board, partnering with the Jewish Genealogical Society of Great Britain, and introducing a vibrant new Research Centre.

We have continued to work hard on financial restructuring. These improvements are about securing term future and ambition to reach.

March 2022 also marked the Jewish Museum Lon th anniversary. This was an especially important milestone, given the last two incredibly challenging years.

We have also seen the start of some major projects, including the creation of a community learning kitchen, and work with the newly discov

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THE JEWISH MUSEUM LONDON

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2022

Learning and Education

The learning team remained in high demand throughout the lockdown and continued to deliver virtual classroom sessions. Upon the reopening of the Museum these sessions were integrated with the return of in-person teaching. We began welcoming schools back on-site for in-person workshops in June 2021 as a pilot and then properly from September 2021 to align with the start of the new school year.

June 2021 also marked a milestone for the learning team, as for the first time all of our 4 stream services (in-person sed back into in-person teaching, and by July the Museum was fully open again to both schools and the public.

Between April and July we continued to send out our weekly curriculum activity pack to over 600 teachers. This pack let teachers know about our offers and directed them to resources on our free Learning Portal. In September this became part of our Monthly Teachers Newsletter.

Over the year, we welcomed over 15,000 students to the Museum, visited over 1,000 students as outreach sessions, connected with over 3,000 students through our Virtual Classrooms, and over 2,000 students accessed our loan boxes.

March 2022 was the busiest month for the Learning and Engagement Team since we closed due to the pandemic, and we saw an increase of 172% relative to our engagement in March 2021. March saw 2,423 students visit through our Schools Programme, bringing us back to pre-pandemic visit numbers (2,426 students visited in March 2019). In the post-lockdown period, we are thrilled to see schools returning to the Museum in great numbers, but also continuing to access our expert staff and resources virtually.

Collections

As the Museum opened up, we not only continued to provide assistance for those requiring access to the collection, we also have expanded our use of the collection throughout the Museum, with some really exciting new initiatives. We also continued to provide excellent care to our extensive collection.

This year we responded to hundreds of enquires, research requests, loan requests, image licencing requests, and donation offers, including 186 research enquiries regarding specific items in our collection.

As part of our reopening process, we created two new collection-centred spaces within the Museum. The Welcome Gallery - led display offers a platform for a range of Jewish organisations and individuals to share their stories. Inspired by the East End market stalls, and with a focus on preserving British Jewish heritage, #PitchUp invites others to choose one set of items to discuss the themes of identity, memory and place. What are the important stories to tell? What do organisations want to preserve for the future? How should the Museum better represent British Jewishness? The display asks these questions, alongside questions posed by our residencies to our visitors. The first 6 residencies included, Bevis Marks Synagogue, Chabad Islington, EcoSynagogue, the Foundation for Jewish Heritage, Jewish Care, and UCL PhD student, Mie Astrup Jensen.

Our aim to open up more of the collections for research and display also guided the creation of the new Research Centre. Our Research Centre offers visitors access to our research library of over 2,000 books, including bound copies of the Jewish Chronicle. The Research Centre includes a digitisation zone, where recent research includes digitising records relating to the Jews Temporary Shelter. These records generated new data that provided insights into those who passed through the shelter post WWII. We are also boosting our genealogical records, by cataloguing named individuals that feature in the Maccabi Times magazine from the 1950s and 1960s. We will continue to make items more accessible and increase store space through efficient packaging. The new Research Centre offers the opportunity to volunteers to work closely with the Collections Team. This year, volunteers helped to digitise hundreds of records, including letters, medals, records cards, magazines, and Friendly Society collars.

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THE JEWISH MUSEUM LONDON

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2022

In conjunction with the opening of our newly-created Research Centre, the Museum has introduced a new membership programme. The Researcher Membership will sit alongside our Friends Membership programme, and will offer all the benefits of being a Friend of the Museum, with the additional perk of block booking a desk in the new Research Centre.

Operations

This year, we continued with our full governance review, started during the previous financial year. Part of this process involved the recruitment of new trustees, taking account of the results of a skills audit of our current trustees, which established gaps in our current Board. Aiming to have a Board that ensures diversity and a combined skillset that can , we sought to appoint a diverse group new trustees with skills in five main areas: museums and heritage, audience engagement, marketing and digital, fundraising, and legal expertise.

After an extensive search process six new trustees a wide range of experience and expertise were recruited: Liz Cleaver, Damien Egan, Gina Koutsika, David Meller, Rob Swerling and Kelly Webb-Lamb. The newly refreshed board has now begun A Head of Strategy was recruited in April 2022 to work on this long-term project.

During this period, the Museum has also begun a full HR review. Following the successful governance review, we sought to give the same attention to our internal policies and processes, ensuring that our HR conduct is up to date and following best practice. Achievements so far include:

After 16 months of closure due to Covid-19, we physically reopened to the public on Sunday 11 July, 2021. Reopening was preceded by a Preview Day on Sunday 4 July. We incorporated the themes of Community, Enquiry and Identity into the goals of the Museum Reopening Campaign Plan. Some of the reopening highlights include:

The Operations Department went through a number of changes to coincide with the reopening of the Museum. This included, creating a new café area, installing a new front of house EPOS system, and recruiting a Museum Assistant (July) and a Senior Operations and Projects Manager.

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THE JEWISH MUSEUM LONDON

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2022

Future plans

The Museum continues to closely monitor any changes to the Covid-19 circumstances, following government guidance and responding to events. Our priority remains keeping our visitors, staff, and volunteers safe.

We have continued our governance review, and will also continue to work through a detailed internal HR review, which will include the setting up of an HR committee, operated by both staff and trustees.

We will continue to engage visitors with our Pitch Up changing exhibition, working with different partner organisations every six months. Partnerships will be a key part of our strategy, as we continue to open up, following the re-opening of the Museum. We will also be opening our community learning kitchen.

Museum of the Future

Like many cultural organisations, Covid-19 gave the Jewish Museum an opportunity to review and refresh its strategic direction. As the Museum moved out of survival mode and looks to the future, the Board of Trustees began to reimagine the Jewish Museum and think about what the Jewish Museum of the Future might look like.

In December 2021, as part of this work, the Museum engaged with donors and external advisors who are working with the Museum to develop a new and distinctive positioning, starting with an articulation of its vision and ambition for the next 10 years, and the role it would like to play in the community in society more broadly.

To support the Museum taking this work forwards and in setting out the long-term strategy for the Museum of the Future, a fully funded one-year fixed term post, Head of Strategy was created and recruited with the post holder joining in April 2022.

FINANCIAL REVIEW

The pandemic continued to create significant uncertainties in 2021/2022.

Overall

During the year under review the Museum recorded an operating deficit of £397,687 (2021: 322,485) due to the challenging fundraising environment largely caused by the effects of the pandemic and it s impact on our ability to meet donors; and the impact on disposable income of the donor community.

As a result of lockdown restrictions and the work required for the Museum to operate safely, the Museum did not open to the public until July 2021 but continued to incur fixed costs due to the nature of our business.

Income

Total income for 2022 was £819,253 (2021: £898,468) which was 9% lower than the previous year. Of the total income, £464,222 was unrestricted and £355,031 was restricted. General donations amounted to £237,399 (2021: £34,779) which was 583% higher than the previous year; legacies income was £57,710 (2021: £305,289) which was 81% lower than the previous year.

Income from charitable activities was slightly lower than the previous year at £476,799 (2021: £485,549) by 2%. Trading income was £33,083 (2021: £3,983) as a result of being operated for much longer than the previous year due to easing of the lockdown restrictions. Investment income was £13,762 (2021: £85) due to rental income as a result of management strategy to maximise the use of our space.

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THE JEWISH MUSEUM LONDON

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2022

Expenditure

Total expenditure for 2022 was £1,216,940 (2021: £1,220,953) largely the same as the previous year. Of the total expenditure, the cost of raising funds was £39,259 (2021: £21,420) and charitable expenditure amounted to £1,177,681 (2021: £1,199,533). The pandemic continued to create significant uncertainties in 2021/2022.

In view of these challenges, the Museum has taken quick and decisive steps to minimise the free reserves deficit, most notably:

Owing to cost cutting and renegotiating the timing of positive, and the Trustees expect this to remain the case for the foreseeable future.

Reserves

Our reserves policy enables management of general reserves to ensure we hold an appropriate level of accessible funds to mitigate against identified financial risks, while ensuring we are making timely and strategic use of our funds. The policy focuses purely on the general reserves, as outlined above, as these are the funds that can be deployed at the discretion of the trustees. We hold general reserves to provide cover for unexpected changes in income and expenditure, allowing us to continue or -off costs that are not covered from donor funds. General reserves also allow us to implement new strategic priorities or invest in new opportunities to achieve our goals.

g levels that would amount to c£610k as against current reserves deficit of £124k. We will strive to achieve this level by increasing our sources of funding and investing more in our fundraising over the next few years.

Financial plans for the future

earned income. Accordingly, two Trustee committees have recently been established:

These groups are working on new fundraising strategies for the Museum and whilst income for 2021/22 will remain low, the Museum anticipates reaching an income level in excess of £1 million from 2022/23 onwards. Our aim is to build a broad, robust fundraising base.

In addition, the Museum was invited to be part of the NPO Bridge Portfolio, managed by Arts Council England. This funding supported the Museum to deliver a public engagement programme with funding of £224,000 for 2022/23. Further we have also secured NPO for an addition of three years to 2025/26, with total funding of £672,000. Alongside the initiatives to increase income, we hold an ambition to invest to further the Museum's charitable objectives. However, costs will only be increased when there is a high level of certainty that any new costs can be fully funded.

JML Trading Limited is responsible for its own Corporation Tax liability. The company made a net profit of £22,726 in 2022 (2021: net loss of £5,181).

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THE JEWISH MUSEUM LONDON

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2022

JML Trading Limited

JML Trading Limited was incorporated on 23 June 2011 as a wholly owned trading subsidiary of The Jewish Museum. The company was established for the purposes of mitigating financial risk within the charity in connection with nonprimary purpose trading activities. The company is directly responsible for all income and expenditure relating to sales from the shop, café, consultancy and facilities hire as well as for any ticketed fundraising events when they occur.

volunteers. The museum charges a management fee to the company for the provision of these services. VAT group was established between the Jewish Museum London and JML Trading Limited, thereby removing the need for a separate VAT registration and avoiding the generation of a VAT on intra-group transactions.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The company was formed to establish and run a Jewish Museum in London and acquire the collection of The Jewish Museum in 1932.

The London Museum of Jewish Life (originally called The Museum of the Jewish East End) was constituted by a Trust Deed of 1985 and registered as a charity.

The two Museums were amalgamated with effect from April 1995.

The M

Recruitment and appointment of trustees

Trustee Board members have been recruited for their skills and experience or for their knowledge of a relevant field. Where a gap in an area of expertise is identified, the museum actively seeks to recruit a Trustee with appropriate skills. Potential Trustees are considered by the Trustee Board. All new Trustees are properly inducted and informed about the work of the museum.

Trustees are responsible for:

The day-to-day running of the museum and the exercise of executive responsibility are delegated to the Chief Executive/Museum Director. Responsibility for supporting and reviewing specific areas of activity and policy is delegated to sub-committees with specific terms of reference, whose members include Trustees, appropriate members of museum staff and volunteers who are able to make a useful contribution in the relevant area of activity, as required. Committees report to the Board of Trustees. The sub-committees currently established are:

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THE JEWISH MUSEUM LONDON

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2022

The trustees who held office during the year and up to the date of the approval of the financial statements were:

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Tanya Persey Resigned as Treasurer 27 May 2021
Jamie Beaumont Appointed as Treasurer 27 May 2021
Georgia Koutsika Appointed as Trustee 6 July 2021
Robert Swerling Appointed as Trustee 6 July 2021
Kelly Webb-Lamb Appointed as Trustee 6 July 2021
Damien Egan Appointed as Trustee 6 July 2021
Elizabeth Cleaver Appointed as Trustee 6 July 2021
David Meller Appointed as Trustee 19 July 2021
Alexina Mwense Appointed as Trustee 31 October 2022
Tali Krikler Resigned as Trustee 8 March 2022
Nicholas Viner
Daniel Koski
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Key management personal who were active during the year and up to the date of the approval of the financial statements were:

David Stein Resigned as finance director 20 April 2022 Alexina Mwense Appointed finance director 9 May 2022 and trustee on 31 October 2022 Frances Jeens Resigned as museum director 31 October 2022 Susan Shave Appointed interim museum director 31 October 2022

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Risk management

Risks are classified under headings such as financial, premises, health & safety, collection, staffing and reputation. Risk assessments are carried out in order to ascertain the likelihood of a risk event occurring, of its potential impact, and whether any cost-effective mitigating action may be taken.

The major risks relating to the collection, the activities and the buildings of the Museum was reviewed by the Trustees, relying on professional advice where appropriate, and the findings have been updated into a revised risk matrix and register. Appropriate mitigating action to reduce risk levels and potential impacts, have been taken if deemed necessary and cost effective.

The Museum has in place adequate systems accompanied by proper insurance cover which are considered adequate to mitigate major risks. A full health and safety review was carried out and all staff and volunteers have received appropriate training. The Museum is fully compliant with current health & safety and fire regulations.

The Museum employs a team of professional staff covering all areas of operation. Staff receive training as appropriate to ensure they remain up to date and able to carry out their tasks to a very high standard. Trustees are able to rely on the advice they receive from the professional team.

Whilst Covid-19 still represents a significant risk, the Museum has demonstrated that it is able to adapt its way of working to mitigate the potential impact of the pandemic. In addition, we have introduced a comprehensive range of processes and precautions to protect visitors, staff and volunteers. For example, in December 2021, we had to move back through the phases and close the Museum in response to increased Covid cases and government advice.

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THE JEWISH MUSEUM LONDON

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2022

Public benefit

The Trustees have complied with their duty to have due regard to the guidance published by the Charity Commission on the Public Benefit requirement under the Charities Act 2011.

Statement of Trustees Responsibilities

The Trustees, who are also the directors of The Jewish Museum London for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"

A combination of Company Law and Charity Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the group and the parent charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the group and enable them to ensure that the financial statements comply with the Companies Act 2006 and the Charities Act 2011. They are also responsible for safeguarding the assets of the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

Auditor

HW Fisher LLP will be proposed for re-appointment at the forthcoming Annual General Meeting.

The Trustees' report was approved by the Board of Trustees by:

..............................

Nick Viner

Chair of Trustees

Dated:

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THE JEWISH MUSEUM LONDON

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF THE JEWISH MUSEUM LONDON

Opinion

for the year ended 31 March 2022 which comprise the group statement of financial activities, the summary group income and expenditure account, the group and charity balance sheets, the group statement of cash flows and the notes to the group financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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THE JEWISH MUSEUM LONDON

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF THE JEWISH MUSEUM LONDON

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charity and their environment obtained in course of the audit, we have not identified material misstatements in the directors' report included within the Trus We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assess

a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

As part of our planning process;

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THE JEWISH MUSEUM LONDON

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF THE JEWISH MUSEUM LONDON

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with those charged with governance of the entity.

A further description of our responsibilities for the audit of the financial statements is located on the Financial website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' 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 charitable

Andrew Rich (Senior Statutory Auditor) for and on behalf of HW Fisher LLP

Chartered Accountants Statutory Auditor Acre House 11-15 William Road London NW1 3ER United Kingdom

.........................

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THE JEWISH MUSEUM LONDON

GROUP STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2022

Current financial year
Notes		 funds

general
Unrestricted		 Unrestricted
funds
designated		 Restricted
funds		 Endowment
funds		 2022
TOTAL		 2021
TOTAL
Income
3
4
5
6
7
Expenditure on:
Raising funds
8
Donations and Legacies
COVID-19 grants
Investments
Other trading income
Charitable activities
Total Income		 2022
£
295,609
-
121,768
33,083
13,762
464,222
39,259		 2022
£
-
-
-
-
-
-
-		 2022
£
-
-
355,031
-
-
355,031
-		 2022
£
-
-
-
-
-
-
-		 2022
£
295,609
-
476,799
33,083
13,762
819,253
39,259		 2021
£
340,162
68,689
485,549
3,983
85
898,468
21,420
Charitable activities
9		 663,932 251,635 262,114 - 1,177,681 1,199,533
Net incoming/ (outgoing) resources before transfers
Gross transfers between funds
Net movement in funds for the year
Balances brought forward 1 April 2021
BALANCES CARRIED FORWARD 31 MARCH 2022
Total resources expended		 703,191
(238,969)
(24,908)
(263,877)
139,638
(124,240)		 251,635
(251,635)
24,908
(226,727)
13,918,099
13,691,372		 262,114
92,917
-
92,917
40,353
133,270		 -
-
-
-
34,260
34,260		 1,216,940
(397,687)
-
(397,687)
14,132,350
13,734,662		 1,220,953
(322,485)
-
(322,485)
14,454,835
14,132,350

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

12

THE JEWISH MUSEUM LONDON

GROUP STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

Prior financial year
Notes		 funds
general
Unrestricted		 Unrestricted
funds
designated		 Restricted
funds		 Endowment
funds		 2021
TOTAL
Income
3
4
5
6
7
Expenditure on:
Raising funds
8
Charitable activities
9
Net incoming/ (outgoing) resources before transfers
Transfers between funds
Net movement in funds for the year
Balances brought forward 1 April 2021
BALANCES CARRIED FORWARD 31 MARCH 2021
Total resources expended
Donations and Legacies
COVID-19 grants
Charitable activities
Other trading income
Investments
Total Income		 2021
£
340,162
68,689
69,845
3,983
85
482,764
21,420
410,756
432,176
50,588
7,808
42,780
96,858
139,638		 2021
£
-
-
-
-
-
-
262,737
262,737
(262,737)
(7,808)
(254,929)
14,173,028
13,918,099		 2021
£
-
-
415,704
-
-
415,704
526,040
526,040
(110,336)
-
(110,336)
150,689
40,353		 2021
£
-
-
-
-
-
-
-
-
-
-
-
-
34,260
34,260		 2021
£
340,162
68,689
485,549
3,983
85
898,468
21,420
1,199,533
1,220,953
(322,485)
-
(322,485)
14,454,835
14,132,350

13

THE JEWISH MUSEUM LONDON

SUMMARY GROUP INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2022

All income Funds
2022 2021
£ £
Gross Income 819,253 898,468
Transfer from endowment funds - -
Total income in reporting period 819,253 898,468
Totalexpenditurefrom incomingfunds 1,216,940 1,220,953
Net income/(expenditure) for the year (397,687) (322,485)

14

THE JEWISH MUSEUM LONDON

GROUP AND CHARITY BALANCE SHEETS

AS AT 31 MARCH 2022

Notes 2022
2021
Group		 2022
2021
Group		 2022
2021
Charity		 2022
2021
Charity
Fixed assets
Intangible fixed assets
14
Tangible fixed assets
15
Heritage assets
16		 £
1,979
13,384,269
305,123		 £
22,828
13,590,148
305,123		 £
1,979
13,384,269
305,123		 £
22,828
13,590,148
305,123
Investments
17		 - - 100 100
Current Assets
Stocks
18
Debtors
19		 13,691,371
36,697
283,285		 13,918,099
32,622
216,869		 13,691,471
-
310,724		 13,918,199
-
260,244
Balances at bank and in hand 132,814 347,057 108,516 325,179
Creditors: amounts falling due within one year
20
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after one year
21
Total assets less current liabilities
FUNDS
Capital funds
Endowments funds
24
Income funds
Restricted funds
25
Unrestricted funds - designated
26
Unrestricted funds - general
Total Funds		 452,796
109,505
343,291
14,034,662
(300,000)
13,734,662
34,260
133,270
13,691,372
(124,240)
13,734,662		 596,548
(82,297)
514,251
14,432,350
(300,000)
14,132,350
34,260
40,353
13,918,099
139,638
14,132,350		 419,240
107,297
311,943
14,003,414
(300,000)
13,703,414
34,260
133,270
13,691,372
(155,487)
13,703,414		 585,423
(79,617)
505,806
14,424,005
(300,000)
14,124,005
34,260
40,353
13,918,099
131,293
14,124,005

The charitable company's net deficit for the year was £420,413 (2021: £317,299)

Nick Viner Jamie Beaumont Chair of Trustees Treasurer

15

THE JEWISH MUSEUM LONDON

GROUP STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2022

Notes £
£
2022		 £
£
2022		 £
£
2021		 £
£
2021
Cash generated/(absorbed) by operations
Cash absorbed by operations
29
Investing activities:		 (203,096) 13,321
Purchase of tangible fixed assets
 (24,908) (7,808)
Investment income received
Proceeds from borrowing
Cash and cash equivalents at the beginning of the year
Net cash provided by (used in) investing activities
Financing Activities
Net cash generated from/(used in) financing
Net increase in cash and cash equivalents
Cash and cash equivalents at the end of the year		 13,761
-		 (11,147)
-
(214,243)
347,057
132,814		 85
-		 (7,723)
-
5,598
341,459
347,057

16

THE JEWISH MUSEUM LONDON

NOTES TO THE GROUP FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

The Jewish Museum London is a private company limited by guarantee incorporated in England and Wales. The registered office is Raymond Burton House, 129-131 Albert Street, Camden Town, London, NW1 7NB.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Companies Act 2006, the Charities Act 2011, and "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) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

No statement of cash flows has been presented for the charity itself as this would not be materially different from the group statement of cash flows.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The group financial statements reflect the results and combined financial position of The Jewish Museum London and JML Trading Limited. As permitted by s408 of the Companies Act 2006, the parent charitable company has not presented its own income and expenditure account and related notes.

1.2 Going concern

The Trustees have considered the after effects of the Covid-19 pandemic which have culminated in the ongoing challenging fundraising climate, increased cost of living and rising inflation rates on the charity. This environment continues to pose serious challenges for not only the Museum but for the whole Museum and Heritage sector. Although the Charity acknowledges these challenges, the Trustees have, and continue to, act to reduce expenditure where neccesary and to apply for funding where it is available to mitigate the risk to the Charity.

The Charity obtained National Arts Council Bridge funding for the year under review, hence providing some stability to the Museum. The Museum is now a National Portfolio Organisation as accredited by Arts Council England, this has attracted a considerable amount of annual Government Funding of £672,000 spread over the next 3 financial years 2023/24 to 2025/26. This represents 20%

In addition, the Museum has a good recent track record of successful applications to Trusts, Foundations, and other public bodies, some of whom have already committed to funding next year and beyond, and has a robust fundraising plan in place to continue to raise funds from individual donors. Based on financial projections, the Trustees have a reasonable expectation that the Charity can continue as a going concern for the foreseeable future and thus the financial statements have been prepared on the going concern basis.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

17

THE JEWISH MUSEUM LONDON

NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Resources expended are recognised in the period to which they relate.

Resources expended are allocated to the relevant departments, where the cost relates directly to that department. However, the cost of the overall direction and administration of the charity, comprising salaries and overhead costs of the central function, is apportioned across each department on the basis of an estimate of the proportion of time spent by staff in each department.

Governance costs include organisational management and compliance with constitutional and statutory requirements.

1.6 Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website 4 years

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Museum development 20 years
Furniture and equipment 4 Years
Computers and electronic equipment 3 years

No depreciation is provided on freehold land. No depreciation is provided on freehold buildings since the assets have high residual value in excess of the carrying amount.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks are stated at the lower of cost and estimated selling price.

18

THE JEWISH MUSEUM LONDON

NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

1.10 Cash and cash equivalents

Cash and cash equivalents include cash at bank and in hand.

1.11 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.12 Employee benefits

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

The Trustees are satisfied that there are no material estimates or judgements in the financial statements.

3. Donations and legacies

Donations and gifts
General donations
Trusts and foundations
Legacies
4. COVID-19 grants
CJRS scheme grant (Furlough)		 2022
£
237,399
500
57,710
295,609
2022
£
-
-		 2021
£
34,779
94
305,289
340,162
2021
£
68,689
68,689

19

THE JEWISH MUSEUM LONDON

NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

5. Charitable activities 2022
£
421,701
16,310
38,788
2021
£
Grants and exhibition funding 445,528
Admissions income 74
Museum tax credit 39,947
476,799 485,549
Analysis by fund 121,768
355,031
Unrestricted funds - general 69,845
Restricted funds 415,704
476,799 485,549
2022
£
33,083
6. Other trading income
2021
£
Shop, Private hire events, Consultancy 3,983
33,083 3,983
7. Investments 2022
£
12
13,750
2021
£
Interest receivable 85
Rental income -
13,762 85

20

THE JEWISH MUSEUM LONDON

NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

8. Raising funds

Fundraising and publicity
Fundraising costs
Staff costs
9. Charitable activities
Staff costs
Depreciation and impairment
Office and administration cost
Exhibition cost
Education cost
Share of support costs (see note 10)
Share of governance costs (see note 10)
Analysis by fund
Unrestricted funds - general
Unrestricted funds - designated
Restricted funds		 2022
£
15,528
23,731
39,259
2022
£
238,638
-
218,777
18,468
13,593
489,476
601,472
86,733
1,177,681
663,932
251,635
262,114
1,177,681		 2021
£
382
21,038
21,420
2021
£
297,759
11,727
163,027
-
6,652
479,165
682,517
37,851
1,199,533
418,564
254,929
526,040
1,199,533

21

THE JEWISH MUSEUM LONDON

NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

10. SUPPORT COSTS

Salaries and related costs
Depreciation
General admin costs
Premises cost
Audit fees
Analysed betwwen charitable activity		 Support
Costs
£
170,142
251,636
96,746
82,948
-
601,472
601,472		 Governance
cost
£
-
-
75,044
-
11,689
86,733
86,733		 2022
TOTAL
£
170,142
251,636
171,790
82,948
11,689
688,205
688,205		 Support Costs
£
112,335
251,008
269,445
49,729
-
682,517
682,517		 Governance
cost
£
-
-
27,851
-
10,000
37,851
37,851		 2021
TOTAL
£
112,335
251,008
297,296
49,729
10,000
720,368
720,368

Governance costs include the gross annual audit fee of £11,689 (2021: £10,000) payable to the auditors in respect of audit fees. Included within general admin costs is £1,200 (2021: £nil payable to the auditors in respect of other services.)

11. Trustees Expenses

Trustee remuneration is set out in note 13 to the financial statements

There were no reimbursed expenses paid to trustees in the year (2021: £nil)

12. Employees

The average monthly number of employees durung the year was:

Curitorial and Education
Management and Administration
Visitors Services
Employment costs
Wages and Salaries
Redundancy costs
Social security costs
Other pension costs
Other staff costs		 2022
Number
7
3
3
13
2022
Number
382,888
-
12,683
14,664
22,276
432,511		 2021
Number
5
4
3
12
2021
Number
346,381
37,594
30,955
16,202
-
431,132

22

THE JEWISH MUSEUM LONDON

NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

13. Key personnel

The number of employees whose annual remuneration was £60,000 or more were: Staff salary bands:

2022 2021
Number Number
£60,000 - £70,000 1 1
£70,000 - £80,000 1 -

Key management personnel comprise of the board of trustees and senior leadership team. Remuneration of key management personnel in the year totalled £259,522 (2021: £217,559).

No trustee received remuneration for services as an employee in 2022 (2021: £68,080)

14. Intangible fixed assets

Group and charity

Cost
At 31 March 2022
Amortisation and impairment:
At 1 April 2021
Amortisation charged for the year
At 31 March 2022
Carrying amount
At 31 March 2022
At 31 March 2021		 Website
£
83,393
60,565
20,849
81,414
1,979
22,828

23

THE JEWISH MUSEUM LONDON

NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

15 Tangible Fixed Assets

Group and charity

Cost or valuation:
At 1 April 2021
Additions
At 31 March 2022
Depreciation and impairment:
At 1 April 2021
Depreciation charge for the year
At 31 March 2022		 Freehold land
and buildings
£
11,586,312
-
11,586,312
-
-
-		 Museum
Development
£
4,158,464
-
4,158,464
2,191,743
208,105
2,399,848		 Furniture and
Equipment
£
172,833
24,908
197,741
135,718
22,682
158,400		 Total
£
15,917,609
24,908
15,942,517
2,327,461
230,787
2,558,248
Carrying amount
At 31 March 2022
At 31 March 2021		 11,586,312
11,586,312		 1,758,616
1,966,721		 39,341
37,115		 13,384,269
13,590,148

The Heritage Lottery Fund has a charge over the freehold property to the value of £3,825,000

16 Heritage assets

Group and charity

At April 2021 and 31 March 2022 Total
£
305,123

The value of objects that are purchased for the museum's collection from 1 April 2009 are included in the financial statements as Heritage assets. Items purchased prior to this date are not carried in the Balance Sheet as it is neither considered practical nor cost effective to ascertain valuation for individual objects.

In addition, the cost of obtaining appropriate and relevant information about these items is disproportionately large compared to the benefits to users of the financial statements.

17 Investments

Details of the charity's trading subsidiary at 31 March 2022 are as follows:

Name of undertaking Registered Nature of business Class of Nature of business Class of % Held
office shares held Direct
JML Trading Limited As charity Museum shop Ordinary 100

24

THE JEWISH MUSEUM LONDON

NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

18. Stock

Group
Finished goods and goods for resale		 2022
£
36,698
36,698		 2021
£
32,622
32,622

19. Debtors

Amounts falling due within one year
Trade debtors
Amounts owed by fellow group undertakings
Other debtors
Prepayments and accrued income		 2022
2021
£
£
40,165
20,374
-
-
5,012
30,526
238,108
165,969
283,285
216,869
Group		 2022
2021
£
£
35,692
18,511
31,991
45,238
5,012
30,526
238,029
165,969
310,724
260,244
Charity

20. Creditors

Amounts falling due within one year
Borrowings
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2022
2021
£
£
-
-
13,302
8,735
55,343
39,018
8,207
3,048
32,653
31,496
109,505
82,297
Group		 2022
2021
£
£
-
-
13,302
8,735
53,773
38,838
8,207
3,048
32,015
28,996
107,297
79,617
Charity

Included within accruals and deferred income is £4,822 (2021:£711). This relates to amounts received in advance for Schools Digital, Schools in the Museum, Events and Receptions and Group Tours that were due to take place in the next financial year.

21. Creditors

Amounts falling due after one year
Borrowings		 2022
2021
£
£
300,000
300,000
300,000
300,000
Group		 2022
2021
£
£
300,000
300,000
300,000
300,000
Charity

Borrowings comprise an interest free loan of £300,000 from Kifin Limited, which was due to be repaid during the year ending 31 March 2021. A new loan agreement was drawn up and signed on 18 September 2020, which overwrote the previous agreement. This new agreement stated that the loan has been reassigned to Umfolozi Investment Holdings Limited and that the loan would be provided until 31 July 2022. Since then, new repayment terms have been agreed for the loan to be fully repaid by 31 March 2028. See note 22.

25

THE JEWISH MUSEUM LONDON

NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

24. Endowment funds

Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

Permanent Endowment
The B Zucker Fund		 Balance at
1 Apil 2020
£
34,260
34,260		 Resources
expended
£
-
-		 Balance at
1 Apil 2021
£
34,260
34,260		 Resources
expended
£
-
-		 Balance at
31 March 2022
£
34,260
34,260

26

THE JEWISH MUSEUM LONDON

NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

25. Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes.

Funder
ACE Cultural Recovery Fund
ACE Engagement Model
ACE Museums and Schools
Association of Jewish Refugees
Audience Agency
Band Trust
Community Security Trust
Culham St Gabriel's
Esmee Fairbain
Lerak Foundation
Solly Irving
Funder
ACE Cultural Recovery Fund
ACE Engagement Model
Association of Jewish Refugees
Cecil Roth Trust
Community Security Trust
Culham St Gabriel's
Education fund
Esmee Fairbain
Jewish Military Museum
John Lyons Foundation
Learning Digital Project
Raynes Fund
Solly Irving		 Balance at
1 Apil 2021
£
9,551
-
-
5,000
-
-
-
2,835
17,967
-
5,000
40,353
Balance at
1 Apil 2020
£
-
117,000
-
9,000
-
-
14,854
-
-
1,320
7,315
1,200
-
150,689		 Incoming
Resources
Balance at
resources
expended
31 March 2022
£
£
£
49,883
(59,434)
-
36,266
(36,266)
-
40,014
(39,941)
73
5,000
(6,543)
3,457
3,720
(2,130)
1,590
65,000
-
65,000
82,898
(82,643)
255
2,800
(5,635)
-
-
(17,967)
-
49,450
-
49,450
20,000
(11,555)
13,445
355,031
(262,114)
133,270
Incoming
Resources
Balance at
resources
expended
1 Apil 2021
£
£
£
244,213
(234,662)
9,551
58,500
(175,500)
-
5,000
-
5,000
-
(9,000)
-
24,992
(24,992)
-
2,835
-
2,835
40,014
(54,868)
-
28,000
(10,033)
17,967
7,150
(7,150)
-
-
(1,320)
-
-
(7,315)
-
-
(1,200)
-
5,000
-
5,000
415,704
(526,040)
40,353
Movement in funds
Movement in funds

27

THE JEWISH MUSEUM LONDON

NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

Restricted funds

ACE Cultural Recovery Fund

The Culture Recovery Fund is a grants programme issued by the UK Government as a response to the Covid-19 Pandemic. The fund aims to financially support cultural organisations in England which had become financially unviable as a result of national and local restrictions. It is administered by Arts Council England. The fund is now fully expended.

ACE Engagement Model

A grant from Arts Council England to support the Museum in its move towards a digital offering. The fund is now fully expended

ACE Museum & Schools - The Education Fund

This Fund represents annual grants from the Department for Education, via Arts Council England, which are given for the specific purpose of funding the Museum's education and learning programme under the national umbrella of Museums and Schools.

Association of Jewish Refugees

A grant to support Holocaust Educational Workshops

Audience Agency

A grant to support the Museum engage communities with archives and archiving using digital technology.

Band Trust

To fund the engagement of the community, through developing the Community Kitchen

Community Security Trust

A grant from the Home Office and administered by the Community Security Trust (CST). This award partially funds the cost of security guards to protect staff, visitors, the building and the collection.

A grant, in two instalments totalling instalment of £2,835 was received in the year to 31 March 2021.

Esmee Fairbairn

A grant to support our project to establish 'The Object Lending Library: An Access

The Jewish Military Museum

As a step towards possible merger, The Jewish Military Museum transferred its permanent collection on a 5-year loan agreement to The Jewish Museum in 2014. AJEX funded the integration of the collections. Subsequent extensions to the loan have been approved and in 2021 an agreement was made between the two museums to continue the loan.

Lerak

A grant to fund the first part of the strategic development of the Museum, which is to fund the recruitment of the role of Head of Strategy

Solly Irving

A £25,000 grant in two instalments to fund the project 'Life with Loss: Understanding Grief and Memory'.

28

THE JEWISH MUSEUM LONDON

NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

26. Designated funds

The income funds of the charity include the following designated funds which have been set aside, out of unrestricted funds by the trustees for specific purposes:

Fixed asset reserve Balance at
1 Apil 2020
£
14,173,028
14,173,028		 Balance at
1 Apil 2020
£
14,173,028
14,173,028		 Resources
expended
£
254,929
254,929		 Balance at
1 Apil 2021
£
13,918,099
13,918,099		 Resources
expended
£
251,635
251,635		 Transfers
£
24,908
24,908		 Balance at
31 March 2022
£
13,691,372
13,691,372
27 Analysis of net assets between funds
.
Fund balances as at 31 March 2022
represented by:
Intangible fixed assets
Tangible fixed assets
Heritage assets
Current assets/(liabilities)		 Unrestricted
funds
general
2022
£
-
-
-
(124,240)
(124,240)		 Unrestricted
funds
designated
2022
£
1,979
13,384,270
305,123
-
13,691,372		 Restricted
funds
2022
£
-
-
-
133,270
133,270		 Endowment
funds
2022
£
-
-
-
34,260
34,260		 Total
2022
£
1,979
13,384,270
305,123
43,290
13,734,662

29

THE JEWISH MUSEUM LONDON

NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

28. Related party transactions

No trustee received any remuneration in respect of services given as a trustee in 2021/22. Trustees are entiltled to reimbursement of travelling, accommodation and out-of-pocket expenses incurred in performance of their duties. No amount was reimbursed in 2021/22 (2020/21: Nil).

By the nature of their role, the trustees are deemed to be related parties.

The Museums received donations without any conditions from it's trustees totaling £20,000 in the year 2021/22 (2020/21: Nil) There are no other related party transactions to report.

29. Cash generated from operations

Deficit for the year
Adjusted for:
Investment income recognised in sattement of financial activities
Depreciation and impairment of fixed assets
Movement in working capital
(Increase) / decrease in stocks
(Increase) / decrease in debtors
Increase/(decrease) in creditors
Cash absorbed by operations		 2022
£
(397,687)
(13,762)
251,635
(4,075)
(66,416)
27,208
(203,097)		 2021
£
(322,485)
(85)
262,737
-
129,511
(56,357)
13,321

30. Analysis of change in net of funds Analysis of cash and cash equivalents

Cash at bank and in hand
Loans falling due over one year		 1 April 2021
£
347,057
(300,000)
47,057		 Cashflows
Acquisition and
disposals
£
£
(214,243)
-
(214,243)
-		 31 March 2022
£
132,814
(300,000)
(167,186)

30