2020-12-31-accounts - Ajex Charitable Foundation

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

			Page
Reference and Administrative		Details of the Charity, its Trustees and Advisers
Trustees' Report			2-7
Independent Auditors'	Report	on the Financial Statements	8-11
Statement of Financial	Activities		12
Balance Sheet
Statement of Cash Flows			14
Notes to the Financial	Statements		15-30

REFERENCE AND	REFERENCE AND	ADMINISTRATIVE	DETAILS	OF THE CHARITY, ITSTRUSTEES AND ADVISERS
		FOR THE YEAR ENDED 31 DECEMBER 2020
Trustees		Ronald Shelley	MBE
		Stewart Cass
		ivan Sugarman
		Michael Bluestone
		Anthony Yadgaroff
		Stephen Pack (appointed		25 February 2021)
		David Sherman
		Jonathan Kober
		Leonard Stern
		Sheila Taylor
		Jeffrey Jay (Resigned 25		February 2021)
Charity registered
number		1082148
Principal office		Shield House,
		Harmony Way
		London
		NW4 2BZ
Independent	auditors	Nyman Libson Paul LLP
		Chartered Accountants
		124 Finchley Road
		London
		NW3 5JS
Bankers		Bank ofScotland
		600 Gorgie Road
		Edinburgh
		EH11 3XP
		Barclays Bank
		PO Box299
		Birmingham
		B13PF

			Endowment	Restricted	Unrestricted	Total	7otat
			funds	funds	funds	funds	funds
			2020	2020	2020	2020	2019
		Note		R	E	E
Income and
endowments	from:
Donations and	legacies	3		4,919	120,451	125,370	567,214
Charitable activities		4			2,360	2,360	11,900
Investments		5			38,494	38,494	51,001
Total income endowments	and			4,919	161,305	166,224	630, 115
Expenditure on:
Raising funds					1,121	1,121	214
Charitable activities		6		68,650	242,496	311,146	420,372
Total expenditure				68,650	243,617	312,267	420,586
Net
(expenditure)/income
before net
(losses)/gains investments	on			(63,731)	(82,312)	(146,043)	209,529
Net (losses)/gains on investments					(80,773)	(80,773)	121,682
Net
(expenditure)/income				(63,731)	(163,085)	(226,816)	331,211
Transfers between
funds		15		39,151	(39,151)
Net movement funds	In			(24,580)	(202,236)	(226,816)	331,211
Reconciliation	of
funds;
Total funds brought forward			521	32,091	1,904,291	1,936,903	1,605,692
Net movement	In funds			(24,580)	(202,236)	(226,816)	331,211
Total funds carried forward			521'	7,511	1,702,055	1,710,087	1,936,903

	STATEMENT OF	FINANCIAL	POSITION
	AS AT 31 DECEMBER		2020
			2020		2019
	Note				E
Fixed assets
Tangible assets	11		3,846		7,553
investments	f2		1,153,340		1,230,472
			1,157,186		1,238,025
Current assets
Debtors		13,675		14,569
Cash at bank and in	hand	581,332		742,399
		595,007		756,968
Creditors: amounts	falling due within one
year	14	(42,106)		(58,090)
Net current assets			552,901		698,878
Total net assets			1,710,087		1,936,903
Charity funds
Endowment funds	15		521		521
Restricted funds	15		7,511		32,091
Unrestricted funds	15		1,702,055		1,904,291
Total funds			1,710,087		1,936,903

				STATEMENT OF	STATEMENT OF	CASH FLOWS
			FOR THE YEAR ENDED 31 DECEMBER 2020
							2020	2019
							C
Cash flows from operating			activities
Net cash		used in operating	activities				(195,920)	147,867
Cash flows from investing			activities
Dividends,		interests and rents from investments					38,494	51,001
Purchase		of tangible fixed assets						(1,848)
Proceeds		from sale of investments					347,528
Purchase		of investments					(351,169)	(50,256)
Net cash		provided by/(used in) investing			activities		34,853	(1,103)
Cash flows from financing			activities
Net cash		provided by financing activities
Change	in cash and cash		equivalents	ln	the year		(161,067)	146,764
Cash and		cash equivalents	at the beginning		of the year		742,399	595,635
Cash and		cash equivalents	at the end of		the year		581,332	742,399
The notes		on pages 15to 30 form part		of these financial		statements

	Restricted	Unrestricted	Total
	funds	funds	funds
	2020	2020	2020
		8	2
Donations	4,919	30,817	35,736
I egacies		86,468	86,468
Branch affiliation fees		3,166	3,166
	4,919	120,451	125,370
	Restricted	Lfnres tricted	lotat
	funds	funds	funds
	2019	2019	2019
	E'	2	f
Donations	23, 711	29,604	53,315
Legacies		5o7,41e	5o7,41e
Branch affiliation fees		6,481	6,481
	23,71 1	543,503	567,214

						Unrestricted	Total
						funds	funds
						2020	2020
						8	E
Income	from	charitable	activities	-	Remembrance	200	200
Income	from	charitable	activities	-	Other	113	113
income	from	charitable	activities	-	Membership	2,047	2,047
						2,360	2,360

						Unrestricteo	Total
						funds	funds
						201g	201g
Income	from	charitable	activities	-	Remembrance	9,300	9,300
Income	from	charitable	activities	-	Other	(191)	(191)
Income	from	charitable	activities	-	Membership	2,791	2,791
						11,900	11,900

		Unrestricted	Total
		funds	funds
		2020	2020
Investment	income	38494	38494
		Unrestncteo	Total
		funds	funds
		2019	2019
		E
Investment	income	51,001	51,001

			Restricted	Unrestricted	Total
			funds	funds	funds
			2020	2020	2020
			2		8
Remembrance				178,845	178,845
Welfare			68,650	39,340	107,990
Jewish	Military	Museum		17,443	17,443
Record	of Honour			6,868	6,868
			68,650	242,496	311,146
			Restrictea	Unrestricted	Total
			funds	funds	funds
			2019	2019	2019
				2
Remembrance				280,261	280,261
Welfare			64,595	48,040	112,635
Jewish	Military	Museum		19,440	19,440
Record	of Honour			8,036	8,036
			64,595	355,777	420,372

			Activities
			undertaken	Support	Total
			directly	costs	funds
			2020	2020	2020
				8	2
Remembrance			38,581	140,264	178,845
Welfare			69,399	38,591	107,990
Jewish	Military	Museum	12,589	4,854	17)443
Record	of Honour		749	6,119	6,868
			121,318	189,828	311,146

			Activities
			undertaken	Support	Total
			directly	costs	funds
			2019	2019	2019
			2
Remembrance			110,124	170,137	280,261
Welfare			66,042	46,593	112,635
Jewish	Military	Museum	12,700	6, 740	19,440
Reoord	of Honour		1,447	6,589	8,036
			190,313	230,059	420,372

				Jewish
		Remembran		Military	Record of	Total
		ce	Welfare	Museum	Honour	funds
		2020	2020f	2020 E	2020	2020
Donations to JMM Ltd Jewish Museum	re:			12,589		12,589
Annuai remembrance	parade	15,242				15,242
Welfare grants and expenses			68,650			68,650
Other commemorations		7,899				7,899
Donation - Friends of Servicemen	Jewish	1,939				1,939
Travel and subsistence		11,259	625		625	12,509
NEC/Branch expenses		2,242	124		124	2,490
		38,581	69,399	12,589	749	121,318

Analysis of direct co	sts (conti	nued)
				Jewish
		Remembran		Military	Record ol	Total
		ce	Welfare	Museum	Honour	funds
		2019	2019	2019	2019	2019
					E	E
Donations to JlviM Ltd	re:
Jewish Museum				12,700		12,700
Annual remembrance	parade	70,113				70,113
Welfare grants and expenses			64,595			64,595
Other commernorations		11,964				11,964
Donation - Friends of	Jewish
Servicemen		2,000				2,000
Travel and subsistence		23,451	1,303		1,303	26,057
NEC/Branch expenses		2,596	144		144	2,BB4
		110,124	66,042	12,700	1,447	190,313
Analysis of support	costs
				Jewish
		Rernembera		Military	Record of	Total
		nce	Welfare	Museum	Honour	funds
		2020	2020	2020	2020	2020
				6	I'.	L'
Staff costs		66,496	17,732	4,434		88,662
Depreciation		2,780	741		186	3,707
Premises Costs		14,003	3,734		934	18,671
General office costs		25,889	7,768		3,328	36,985
Communications 8 publications		7,290	2,243		562	10,095
Legal and professional	fees	16,519	4,405		1,101	22,025
Presentations and community relations		840	280			1,120
Audit fees		6,300	1,680	420		8,400
Bank charges		147	8			163
		140,264	38,591	4,854	6,119	189,828

	Analysis of	sup	port c	osts (	continu	ed)
								Jewish
					Remembera			Mili fary	Record ol	Tofal
						nce	Irtleftare	Museum	Honour	funds
						2019	2019	2019f	2019	2019
	Staff costs					94,710	25,255	6,314		126,279
	Depreciation					5,366	1,431		358	7,155
	Premises Costs					20,333	5,421		1,356	27,110
	General office costs					33,696	10,110		4,332	48,f38
	Communications		& publications			1,387	427		107	1,921
	Legal and professional			fees		6,272	1,672		4f8	8,362
	Presentations relations	and community				1,665	555			2,220
	Audit fees					6,390	1,704	426		8,520
	Bank charges					318	18			354
						170,137	46,593	8, 740'	6,589	230,059
8.	Auditors' remuneration
									2020	2019
									E	2
	Fees payable	to	the Charity's		auditor	in respect of:
	The auditing	of accounts of associates of the Charity							8,400	8,220

Staff c	osts
		2020	2019
			F
Wages	and salaries	82,666	121,317
Social	security costs	5,996	4,962
		88,662	126,279

2020	2019
No,	No,

		Office	Computer
		equipment	equipment	Total
Cost or valuation
At	1 January 2020	23,063	17,802	40,865
At	31 December 2020	23,063	17,802	40,865
Depreciation
At	1 January 2020	17&936	15,376	33,312
Charge for the year		1,282	2,425	3,707
At	31 December 2020	19,218	17,801	37,019
Net book value
At	31 December 2020	3,845		3,846
At	31December 2019	5,127	2,426	7,553

			Listed
			Investments
			8
Cost or valuation
At 1 January	2020		1,230,472
Additions			350,852
Dlsposals			(347,211)
Revaluations			(80,773)
At 31 December 2020			1,153,340
Net book value
At 31 December 2020			1,153,340
At 31December 2019			1,230,472
Debtors
		2020	2019
			E
Due within one year
Other debtors		2)143	2,223
Prepayments	and accrued income	11,532	12,346
		13,675	14,569

Creditors: Am	ounts	falling due within one year
			2020	2019
			8	6
Loans from AJEX Branches			11,816	16,316
Other taxation	and social securily		2,595	2,918
Other creditors			6,501	4,280
Accruals and deferred		income	21,194	34,576
			42,106	58,090

Statement	nds - current	yea	r
							Balance at
	Balance at	1					31
	January				Transfers	Gains/	December
	2020		Income	Expenditure	ln/out	(Losses)	2020
		E		E	E	E	E
Unrestricted
funds
Designated
funds
Remembrance
reserves	207,409					~	207,409
General funds
General Funds-
all funds	1,696,882		161,305	(243,617)	(39,151)	(80,773)	1,494,646
Total
Unrestricted
funds	1,904,291		161,305	(243,617)	{39,151)	(80,773)	1,702,055
Endowment
funds
Endowment
Funds - all funds	521						521
Restricted
funds
AJEX Housing association fund	32,09'I			(24,580)			7,511
Welfare fund			4,919	(44,070)	39,151
	32,091		4,919	(68,650)	39,151		7,511
Total offunds	1,936,903		166,224	(312,267)		(80,773)	1,7 I0,087

Statement	s - prior year
						Balance at
	Balance at					31
	1 January 2019	Income	Expenditure	Transfers lnyout	Gains' (Losses)	December 2019
Unrestricted
funds
Designated
funds
Remembrance reserves	207,409					207,409
General funds
General Funds	1,341,771	606,404	(355,991)	(16,984)	121,682	1.696,882
Total
Unrestricted
funds	1,549,180	606,404	(355,991)	(16,984)	121,682	1,904,291
Endowment
funds
Endowment
Fund	52.1					521
Restricted
funds
AJEX Housing Association fund	55,991		(23,900)			32,091
Welfare Fund		23,711	(40,695)	16,984
	55,991	23,711	(64,595)	16,984		32,091
Total offunds	1,605,692	630, 115	(420,586)		121,682	1,936,903

Analysis	of net assets between fund	s - current period
		Endowment	Restricted	Unrestricted	Total
		funds	funds	funds	funds
		2020	2020	2020	2020
		L'		E	8
Tangible	fixed assets			3,846	3,846
Fixed asset investments				1,153,340	1,153,340
Current	assets	521	7,511	586,975	595,007
Creditors	due within one year			(42,106)	(42)106)
Total		521	7,511	1,702,055	1,710,087

Analysis	of net assets between fund	s - prior period
		Endowment	Restrictea	Unrestrictea	Total
		fun q's	funds	funds	funds
		2019f	2019 f	2019 f	2019
Tangible	fixed assets			7,553	7,553
Fixed asset investments				1,230,472	1,230,472
Current	assets	521	32,091	724,356	756,968
Creditors	due within one year			(58,090)	(58,090)
Total		521	32,091	1,904,291	1,936,903

20.	Reconcili	atio	n of n	et	m	ove	ment	in fun	ds	to net	cash flow	from operat	ing	activities
														2020	2019
														E	f
	Net income/expenditure Activities)					for	the	period	(as per		Statement	of Financial		(226,816)	331,211
	Adjustments		for;
	Depreciation		charges											3,707	7,155
	(Gains)/losses		on investments											80,773	(121,682)
	Dividends,	interests		and		rents from investments								(38&494)	(51,001)
	Decrease	in stocks													1,200
	Decrease	in debtors												894	6, 110
	Decrease	in creditors												(15,984)	(25,126)
	Net cash	provided		by/(used			In) operating			activities				(195,920)	147,867
21.	Analysis	of	cash and		cash		equivalents
														2020	2019
															f
	Cash in hand													581,332	742,399
	Total cash and cash				equivalents									581,332	742,399
22.	Analysis	of	changes		in	net	debt
												At	1		At 31
												January			December
												2020		Cash flows	2020
														f
													E
	Cash at bank		and in	hand								742,399		(161067)	581,332
												742,399		(161,067)	581,332