| Reports | Reports | ||
|---|---|---|---|
| Reference and administrative | information | ||
| Trustees' report |
|||
| Independent auditor's |
report | ||
| Accounts | |||
| Statement of financial |
activities | 10 | |
| Balance sheet | |||
| Statement ofcash flows |
12 | ||
| Principal accounting |
policies | 13 | |
| Notes to the accounts | 16 |
| Total | Total | ||||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| Notes | $ | $ | |||
| Income from: | |||||
| Investment income |
3,159,568 | 9,146,061 | |||
| Interest receivable | 15,312 | 33,128 | |||
| Other income | 61,538 | ||||
| Total income | 3,174,880 | 9,240,727 | |||
| Expenditure on: |
|||||
| Charitable activities |
6,195,164 | 5,648,034 | |||
| Total expenditure | 6,195,164 | 5,648,034 | |||
| Net (expenditure) | Iincome for | ||||
| the year and net movement | |||||
| on funds | (3,020,284) | 3,592,693 | |||
| Fund balances brought |
|||||
| forward at 1 January | 2020 | 6,970„554 | 3,377,861 | ||
| Fund balances carried | |||||
| forward | |||||
| at 31 December 2020 | 3,950,270 | 6970554 |
| 2020 | 2020 | 2019 | 2019 | ||||
|---|---|---|---|---|---|---|---|
| Notes | $ | $ | $ | $ | |||
| Fixed assets | |||||||
| Investments | 1,500,000 | 1,500,000 | |||||
| Current assets | |||||||
| Debtors | 23,230 | 10,073 | |||||
| Cash at bank and | in | hand | 2,440,228 | 5,473,863 | |||
| 2,463,458 | 5,483,936 | ||||||
| Current liabilities |
|||||||
| Creditors: amounts | falling due | ||||||
| within one year | 9 | (13,188) | (13,382) | ||||
| Net current assets | 2,450,270 | 5,470,554 | |||||
| Total net assets | 3,950„270 | 6,970,554 | |||||
| The funds ofthe | charity | ||||||
| Income funds | |||||||
| Unrestricted funds |
—general | 3,950,270 | 6,970,554 | ||||
| fund | |||||||
| Total charity funds | 3,950,270 | 6,970,554 |
| 2020 | 2019 | |||||||
|---|---|---|---|---|---|---|---|---|
| Notes | $ | $ | ||||||
| Cash flows from operating activities: |
||||||||
| Net cash used in operating activities |
A | (6,208,404) | (5,643,781) | |||||
| Cash flows from investing activities: |
||||||||
| investment income and interest receivable |
3,174,880 | 9,179,189 | ||||||
| Net cash provided by investing activities |
3,174,880 | 9,179,189 | ||||||
| Change in cash and cash equivalents |
in | the year | (3,033,524) | 3,535,408 | ||||
| Cash and cash equivalents at 1January |
2020 | B | 5,473,863 | 1,876,917 | ||||
| Changes in cash and cash equivalents |
due | to exchange | (111) | 61,538 | ||||
| rate movements on monetary assets |
||||||||
| Cash and cash equivalents at 31 December 2020 |
B | 2,440,228 | 5,473,863 | |||||
| Notes to the statement ofcash flows |
for | the year to 31 December 2020. | ||||||
| A | Reconciliation of net movement in funds |
to net cash used | in | operating activities |
||||
| 2020 | 2019 | |||||||
| $ | $ | |||||||
| Net movement in funds (as per the statement offinancial |
(3,020,284) | 3,592,693 | ||||||
| activities) | ||||||||
| Adjustments for: |
||||||||
| Investment income and interest receivable |
(3,174,880) | (9,179,189) | ||||||
| Net losses (gains) on foreign exchange | translation | of monetary | 111 | (61,538) | ||||
| assets | ||||||||
| Increase in debtors |
(13,157) | |||||||
| (Decrease) / increase in creditors |
(194) | 4,253 | ||||||
| Net cash used in operating activities |
(6,208,404) | (5,643,781) | ||||||
| B | Analysis ofcash and cash equivalents | |||||||
| 2020 | 2019 | |||||||
| $ | $ | |||||||
| Cash at bank and in hand |
2,440,228 | 5,473,863 | ||||||
| Total cash and cash equivalents | 2,440,228 | 5,473,863 |
| 1 | Investmen | t inco |
me | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 2020 | 2019 | ||||||||
| $ | $ | ||||||||
| Dividends | on unlisted | investments | (see note 7) | 3,159,568 | 9,146,061 | ||||
| 3,159„568 | 9,146,061 | ||||||||
| 2 | Interest receivable | ||||||||
| 2020 | 2019 | ||||||||
| $ | $ | ||||||||
| Short term deposits | 15,312 | 33,128 | |||||||
| 15,312 | 33,128 | ||||||||
| 3 | Other income | ||||||||
| 2020 | 2019 | ||||||||
| $ | $ | ||||||||
| Foreign currency | translation | gains | on monetary | assets and | 61,538 | ||||
| liabilities | |||||||||
| 61,538 |
| Charitable expe |
nd | iture | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 2019 | ||||||||||
| $ | $ | ||||||||||
| Grants payable | toinstitutions: | ||||||||||
| Keren Hayesod | United | Israel | Appeal | UK | 3,550,000 | 5,569,296 | |||||
| Mir Yeshiva | 450,000 | ||||||||||
| The Covenant | 48,508 | ||||||||||
| Jewish Education | and Publishing | Trust | 350,000 | ||||||||
| Centre de Jeunesse Reguesh |
Association | 302,170 | |||||||||
| Une Lumiere Pour | Mille | 350,000 | |||||||||
| Yad Eliezer | 250,000 | ||||||||||
| Sabeinu Mituvecha |
400,000 | ||||||||||
| Laga'at Baruach | 500,000 | ||||||||||
| Total grants payable | 6,152,170 | 5,617,804 | |||||||||
| Direct costs of | charitable | activities | |||||||||
| Legal and professional | fees | 29,175 | 23,457 | ||||||||
| Accountancy fees |
1,800 | ||||||||||
| Audit fees | 6,552 | 4,770 | |||||||||
| Tax fees | 4,978 | ||||||||||
| Insurance | 935 | ||||||||||
| Foreign exchange | losses on | grant | payments | and | direct costs | 613 | |||||
| Bank charges | 630 | 203 | |||||||||
| 42,883 | 30,230 | ||||||||||
| Foreign currency | translation | losses on monetary | assets and | ||||||||
| liabilities | |||||||||||
| Total charitable | expenditure | 6,195,164 | 5,648,034 |
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| $ | $ | ||||
| Legal and | professional | fees | 29,175 | 23,457 | |
| Auditor's | remuneration | for audit services | 6,552 | 4,770 | |
| Accountancy | fees | 1,800 | |||
| Tax fees | 4,978 | ||||
| Bank charges | 630 | 203 | |||
| 41,325 | 30,230 |