2020-12-31-accounts

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

		Trustees	Trustees	M. Bordon	M. Bordon
				A. Cohen
				Y. Cohen
				A. Sacks
	Registered		office	St Peters	House
				130Wood Street
				London
				EC2V 6DL
Charity	registration	number		1078540
	Independent	auditors		Buzzacott	LLP
				130Wood Street
				London
				EC2V 6DL
		Bankers		Barclays	Bank
				Portman	Square 2
				Leicester
				LE872BB

			Total	Total
			2020	2019
		Notes	$	$
Income from:
Investment income			3,400,846	3,123,471
Interest receivable			10,323	11,745
Other income				27,829
Total income			3,411,169	3,163,045
Expenditure on:
Charitable activities			2,242,922	2,952,969
Total expenditure			2,242,922	2,952,969
Net income for	the year and
net movement	on funds		1,168,247	210,076
Fund balances	brought
forward at 1 January 2020			2„729,050	2,518,974
Fund balances	carried
forward
at 31 December	2020		3,897,297	2,729,050

					2020	2020	2019	2019
				Notes	$	$	$	$
Fixed assets
Investments						1,750,000		1,750,000
Current assets
Cash at bank and	in	hand			2,186,001		1,002,126
					2,186„001		1,002, 126
Current liabilities
Creditors: amounts		falling	due
within one year				8	(38,704)		(23,076)
Net current assets						2,147,297		979,050
Total net assets						3,897,297		2,729,050
The funds ofthe	charity
Income funds
Unrestricted funds:		general	fund			3,897,297		2,729,050
Total charity funds
						3,897,297		2,729,050

									2020	2019
							Notes		$	$
	Cash flows from operating		activities:
	Net cash used in operating	activities					A		(2,226„934)	(2,948,716)
	Cash flows from investing		activities:
	Investment income and interest receivable								3,411,169	3,135,216
	Net cash provided by investing activities								3„411,169	3,135,216
	Change in cash and cash	equivalents		in	the year				1,184,235	186,500
	Cash and cash equivalents		at 1 January		2020		B		1,002,126	787,797
	Changes in cash and cash	equivalents		due	to exchange
	rate movements on monetary		assets						(360)	27,829
	Cash and cash equivalents		at 31 December 2020				B		2,186,001	1,002,126
	Notes to the statement of	cash 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			1,168,247	210,076
	activities)
	Adjustments for:
	Investment income and interest receivable								(3,411,169)	(3,135,216)
	Net losses (gains) on foreign		exchange	translation		of monetary
	assets								360	(27,829)
	Increase in creditors								15,628	4,253
	Net cash used in operating		activities						(2,226,934)	(2,948,716)
B	Analysis ofcash and cash		equivalents
									2020	2019
									$	$
	Cash at bank and in hand								2,186,001	1,002,126
	Total cash and cash equivalents								2,186,001	1,002, 126

1	Investment income
											2020	2019
											$	$
	Dividends on unlisted		investments					(see	note 7)		3,400,846	3,123,471
											3,400,846	3,123,471
2	Interest receivable
											2020	2019
											$	$
	Short term deposits										10„323	11,745
											10,323	11,745
3	Other income
											2020	2019
											$	$
	Foreign currency translation					gains		on monetary		assets and		27,829
	liabilities
												27,829
4.	Charitable expenditure
											2020	2019
											$	$
	Grants payable toinstitutions:
	Jewish Learning Exchange										250,000	250,000
	Jewish Education and	Publishing					Trust				200,000	200,000
	Aish Hatorah UK										750,000	400,000
	Centre de Jeunesse Reguesh					Association						250,000
	Une Lumiere Pour Mille											250,000
	Lauder Yeshurun gemeninnutzige						GmbH				600,000	500,000
	Mir Yeshiva Jerusalem											300,000
	Keren Hayesod											761,300
	Kemach Foundation										400,000	761,300
	Total grants payable										2,200,000	2,911,300
	Direct costs ofcharitable			activities
	Legal and professional	fees									29,175	34,747
	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		717
	Bank charges										205	352
											42,562	41,669
	Foreign currency translation				losses on			monetary assets and liabilities
											360
	Total charitable expenditure										2,242,922	2,952,969

Fixed asset investments comprise an unlisted investmen	t held at cost.
	2020	2019
	Total	Total
Investments	$	$
At 1 January 2020 and 31 December 2020	1,750,000	1,750,000

Creditors: amounts falling due within one yea	r
	2020	2019
	$	$
Other creditors (see note 9)	23,230	10,073
Accruals	15,474	13,003
	38,704	23,076