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2021-06-30-accounts

Charity Number: 1083414

Company Number: 03903050

LIMMUD (a company limited by guarantee)

REPORT AND FINANCIAL STATEMENTS For the year ended 30 June 2021

LIMMUD (a company limited by guarantee)

LIMMUD (a company limited by guarantee)

LIMMUD (a company limited by guarantee)
REPORT AND FINANCIAL STATEMENTS – For the year ended 30 June 2021
Contents
 Page
Legal and administrative information 2
Report of the trustees for the year ended 30 June 2021 3
Independent auditor’s report to the members of Limmud 9
Statement of financial activities (incorporating income and
expenditure account) for the year ended 30 June 2021 12
Balance Sheet as at 30 June 2021 13
Cash flow statement for the year ended 30 June 2021 14
Notes to the Financial Statements 15

LIMMUD (a company limited by guarantee)

Report of the trustees for the year ended 30 June 2021

Legal and Administrative Information

Limmud is a company incorporated on 7 January 2000, is limited by guarantee and is a registered charity, governed by the Memorandum and Articles of Association as amended by a written resolution of members dated 23 October 2005, 14 May 2007 and 30 March 2014.

Trustees: Carolyn Bogush (chair)
Elliott Goldstein (co-chair, resigned 12 December 2021)
Benjamin Crowne
Natalie Grazin (appointed 20 May 2021)
Alan Sillman (appointed 20 May 2021)
Natan Tiefenbrun (appointed 20 May 2021)
Wendy Skolnick (appointed 19 August 2021)
Company Secretary: Benjamin Crowne
Registered Office: Shield House
Harmony Way
London
NW4 2BZ
Bankers: CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
NatWest Bank Plc
125 Great Portland Street
London
W1A 1GA
Auditor: UHY Hacker Young
Quadrant House
4 Thomas More Square
London
E1W 1YW
Company Number: 03903050
Charity Number: 108341

This report is submitted together with the financial statements prepared in accordance with the accounting regulations of the Charities Act 2011 for the year ended 30 June 2021.

2

LIMMUD (a company limited by guarantee)

Report of the trustees for the year ended 30 June 2021

Objectives and Activities

Limmud is a cross-communal learning organisation that enables anyone who is interested to come together, to share their experiences, and to grow and develop their enthusiasm in being Jewish.

The objectives for which Limmud is established are exclusively charitable, and are to promote, improve and develop Jewish learning. Limmud aims to reflect the diversity of the Jewish community in the UK and around the world, and creates cross-communal and intergenerational experiences.

Limmud encourages people to strengthen and develop their own Jewish identity, by promoting Jewish learning and by creating collective and communal experiences enabling personal, spiritual, emotional and intellectual connections to be made. Limmud empowers participants to make their own journey, groups to develop, presenters to innovate, and volunteers to develop Limmud further.

Limmud’s main activities are:

Limmud is run almost entirely by volunteers who work together in teams to create and support these activities. Limmud’s activities are guided by the Limmud promise that “wherever you may find yourself, Limmud will take you one step further on your Jewish journey” and associated values.

Achievements and performance

Principal Activities in 2020-21

Limmud events in 2020/21 were run by around 250 volunteers and had more than 10,000 participants, including:

3

LIMMUD (a company limited by guarantee)

Report of the trustees for the year ended 30 June 2021

Limmud continues to support and co-ordinate more than 75 independent groups around the world outside the UK, based on the sharing of Limmud’s core values. Some of these groups (for example, in Europe) are directly supported by professional staff employed by Limmud; others are supported by our sister organisations: Limmud Israel, Limmud North America and Limmud FSU.

In the UK, teams leading events were supported with training weekends and structured mentoring and support. Internationally, our major training programme in the year was LEV (“Limmud Europe Values”) – a new, online-first series was launched for Limmud teams across Europe following the onset of the COVID-19 pandemic. In December 2020, volunteers from around the world gathered at Limmud Festival as part of LE@F (“Limmud Elements @ Festival”).

Structure, Governance and Management

Organisation

During the year Limmud continued the process of structural change begun in early 2020 with the appointment of a new Trustee Board. Following an independent structural review, the UKfocused and Global-focused operations of Limmud were split under the supervision of the trustees: a new Executive was formed to lead and organise UK activities, and a scoping group was set up to consult with Limmud groups around the world and take forward the establishment of a new global Limmud entity.

Following an open recruitment process in early 2021, more than 20 new volunteers were brought into leadership roles. Four new trustees were appointed, and Abigail Jacobi and Ysabella Hawkings were named co-chairs of the Executive. The Executive now holds responsibility for Limmud’s UK-based activities, including events, volunteer development, programming and marketing/comms.

The global scoping group held a series of meetings and discussions with volunteers around the world in 2020 and 2021. However, it was not possible to hold the envisioned gathering which would have established a new global structure. Subsequent to the year-end, the scoping group was dissolved and restructured as a Task Force jointly operated by Limmud, Limmud Israel, Limmud North America and Limmud FSU. A report with recommendations is expected in early 2022.

Volunteers are assisted by a small number of full time staff, part-time employees allocated to specific functions, and external consultants providing specialist expertise. The professional team was led by Jon Freedman as Deputy Director.

Governing document

Limmud is a charitable company limited by guarantee with its Memorandum and Articles of Association lodged at Companies House. The trustees of the charity are also the directors of the company.

4

LIMMUD (a company limited by guarantee)

Report of the trustees for the year ended 30 June 2021

The structural review has made various recommendations in relation to the revision of the Articles and membership structure. These proposals have been taken up by the Trustees and proposals will be put to Members at the 2021 AGM and at a planned EGM in early 2022.

Appointment of Trustees (directors)

The appointment of new trustees is made on an interim basis by the current trustees, and confirmed by members of the company at the AGM. Most Trustees have held senior leadership positions within Limmud over a number of years prior to taking up the position as a trustee.

Risk management

The board regularly reviews the risks to the organisation and ensures that actions are taken to minimise any unacceptably high risks. Such risk assessments are conducted on an organisation-wide basis and by individual event teams. Risks are documented formally in a risk assessment document, with each perceived risk graded in a 'point scoring' system representing a combination of the likelihood and the seriousness of a particular risk. Actions are determined to mitigate identified risks as appropriate.

Key management personnel remuneration

The trustees consider the deputy director as being the key management personnel for the charity, in terms of running and operating the charity on a day to day basis.

All trustees give of their time freely and no trustee remuneration was paid in the year. Details of related party transactions are disclosed in notes 13 and 23 to the accounts.

Financial review

Overall performance

Limmud’s overall movement of funds in the year was a net surplus of £133k (2019/20: surplus of £90k). The surplus in unrestricted funds was £171k (2019/20: surplus of £108k). At 30 June 2021 Limmud’s total reserves were £281k (2019: £148k). These surpluses are Limmud’s first since 2012/13 and give the organisation a solid base for expansion and a return to large-scale in person events in 2021/22.

Generated funds

Voluntary income for the year, which represents grants or donations from private individuals, Limmud participants, Limmud volunteers, foundations, charitable trusts or other charities, was £289k (2019/20: £507k). This comprised £231k of unrestricted funds (2019/20: £340k), and £58k of restricted funds (2019/20: £167k).

Restricted funds primarily comprised grants from foundations and individual donors relating to specific events and initiatives in the UK; and Limmud’s global activities, including support and training for volunteers (primarily in Europe).

The fall in unrestricted funds was primarily due to the considerable level of one-off donations received in 2019/20 as part of a concerted attempt to build up Limmud’s unrestricted reserves

5

LIMMUD (a company limited by guarantee)

Report of the trustees for the year ended 30 June 2021

(which were totally depleted at the start of 2019/20). Additionally, the transformation of Limmud Festival into an online event meant that the event was not eligible for various grants received in previous years.

The fall in restricted funds was primarily due to the sunsetting in 2019/20 of various major multi-year grants, primarily for European activities. This aspect of Limmud’s work continues to be supported by various foundations and funds, however the Trustees anticipate that additional sources of funding will be required in 2021/22 (potentially by a new pan-European Limmud entity) to ensure that this work is sustainable in the long-term.

Charitable activities

Limmud Festival 2020 was materially different from previous Festivals, as it took place entirely online, with much lower pricing and cost base. The event generated a surplus of £83k (Festival 2019: deficit of £48k). Other UK events had a combined surplus of £31k (2019/20: surplus of £28k). These lower direct costs are somewhat offset by the increased professional support and central costs required to support these events.

Direct expenses relating to global activities fell in the year to £65k (2019/20: £119k), primarily relating to salary costs. Due to the COVID-19 pandemic Limmud did not organise any major inperson volunteer gatherings for either regional or global volunteers, although these continued to take place online, as discussed above.

Limmud’s support costs in the year totalled £213k (2019/20: £279k) – as in previous years these costs primarily related to employee salaries, consultants and other professional fees.

Plans for future years

Due to restrictions (existing and potential) around public gatherings during the COVID-19 pandemic continues, Limmud continues to prioritise online and virtual events for the time being. Limmud Festival will run as a mainly online event from 24 – 28 December 2021, although the event will incorporate a smaller three-day gathering for children, taking place in London.

We anticipate a return to in-person events in 2022 – Limmud teams in Bristol, the Midlands, Leeds and Manchester are all planning physical day events, and a Festival 2022 team will be recruited in the expectation that it will be in-person and residential (with an online component). We expect to continue to programme online and potentially “hybrid” events under the “Limmud Live” banner.

Our other priorities in 2021/22 include development programmes for presenters and volunteers, further recruitment for organisational and events teams, and the on-going support of European and other international teams.

We are optimistic that Limmud can continue to deliver world-class events in the UK, while supporting a network of independent teams around the world. Although Limmud’s recent

6

LIMMUD (a company limited by guarantee)

Report of the trustees for the year ended 30 June 2021

financial performance has been positive, sustained efforts will be necessary to contain costs, attract and retain donors, and deliver events and support activities.

Governance costs

Governance costs comprise those costs associated with constitutional and statutory requirements, for example the cost of preparing statutory accounts, costs incurred for meetings of the Leadership Forum and professional fees. Due to efficiencies, the reclassification of balances, and the reversal of costs accrued for at the year year-end, expenditure on such items during the financial year was £635 (2019/20: £253).

Reserves policy

Limmud’s trustees have reviewed the organisation’s reserves policy so that it reflects the scale of Limmud operations and associated financial commitments. Given the scope of Limmud activities, we have determined that Limmud should hold general reserves equivalent to 3 months operating costs, and an event-specific reserve to cover a potential shortfall in the performance of Festival.

At 30 June 2021 Limmud’s reserves were sufficient to meet these commitments as they related to the remainder of 2021. However, this was primarily due to the lower cost profile of Festival 2021, and the limited risk of losses from an online event. It is anticipated that increased reserves will be necessary in order to cover potential shortfalls in the performance of future, physical/residential events.

Public benefit

The trustees have considered the Charity Commission’s requirement in respect of public benefit. In their view the charity meets, in full, the criteria to satisfy the test. This trustees’ annual report describes the activities undertaken to further its charitable purposes for the public benefit.

Trustees’ Responsibilities Statement

The trustees (who are also directors of Limmud for purposes of company law) are responsible for preparing the Strategic Report, the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to:

7

LIMMUD (a company limited by guarantee)

Independent auditor’s report to the members of Limmud

Opinion

We have audited the financial statements of Limmud (the charitable company) for the year ended 30 June 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statement, 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).

In our opinion the financial statements:

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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our 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 statement is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period 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 financial statements. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

9

LIMMUD (a company limited by guarantee)

Independent auditor’s report to the members of Limmud

We have nothing to report in this regard.

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 charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees 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 assessing the charitable company’s ability to continue as 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:

10

LIMMUD (a company limited by guarantee)

Independent auditor’s report to the members of Limmud

Based on our understanding of the charitable company and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the acts by the charitable company, which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to inflated revenue and the charitable company’s net income for the year.

Audit procedures performed included: review of the financial statement disclosures to underlying supporting documentation, review of correspondence with legal advisors, enquiries of management, testing of journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://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 company’s members those matters we are required to state to them in an auditor's 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 company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Subarna Banerjee (Senior Statutory Auditor)

16/12/2021

For and on behalf of UHY Hacker Young

Chartered Accountants and Statutory Auditor

11

LIMMUD (a company limited by guarantee)

Statement of financial activities (incorporating income and expenditure account) for the year ended 30 June 2021

Note
Income from
Donations
4
Other trading activities
5
Investment income
6
Charitable activities:
7
Festival
Other Events
Total incoming resources
Expenditure on:
Raising funds
8
Charitable activities:
Festival
9
International
Regional activities
Volunteer support
Total resources expended
Net incoming resources
before transfers
Net movement in funds in
year
Reconciliation of funds
Total funds brought forward
at 1 July 2020
Total funds carried
forward at 30 June 2021		 Unrestricted
funds
£
230,613
10,011
11
109,145
35,246

385,026

535


172,028
-
27,015
14,615


214,193

170,833


170,833


103,035

273,868		 Restricted
funds
£
58,040
-
-
-
110

58,150



-

10,000
86,308
-
-

96,308
(38,158)

(38,158)
44,892

6,734		 2021
Total
£
288,653
10,011
11
109,145
35,356
443,176
535
182,028
86,308
27,015
14,615
310,501
132,675
132,675
147,927
280,602		 2020
Total
£
506,664
6,531
634
900,344
47,451
1,461,624
3,850
1,176,667
158,479
31,485
696
1,371,177
90,447
90,447
57,480
147,927

The statement of financial activities includes all gains and losses recognised in the year.

All incoming resources and resources expended derive from continuing activities.

12

30June 30June
Note 2021 2020
Fixedassets IS 4,794 13,684
Currentassets
Debtors
Cast!atbankandinhand		 16
17		 2,826
3,510
296,336		 39,936
193,038
232,974
Creditors
Amountsfallingduewithinone
year		 18 (20,528) (98,931)
Netcurrentassets 375,808 34,043
Netassets 280,602 147,927
Ţhefundsofthecharity
Restrictedincomefunds		 19 6,734 44,892
Unrestrictedincomefunds 273,868 103,035
273,868 103,035
Totalcharityfunds 280,602 -147,927
:11111
andare
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о

LIMMUD (a company limited by guarantee)

Cash flow statement for the year ended 30 June 2021

Cash flows from operating
activities:
Net movement in funds
Investment income
Depreciation
Decrease in debtors
(Decrease) in creditors
Net cash generated from operating activities
Cash flows from investing
activities:
Fixed asset additions and disposals
Interest receivable
Net cash generated from investing activities
Change in cash in the year
Cash at the beginning of the year
Cash at the end of the year		 2021
£
132,675
(11)
4,964
37,110
(78,403)
96,335
4,126
11
4,137
100,472
193,038
**293,510 **		 2020
£
90,447
(634)
6,095
244,301
(293,336)
46,873
(200)
634
434
47,307
145,731
193,038

14

LIMMUD (a company limited by guarantee) Notes to the accounts for the year ended 30 June 2021

1. Charitable company information

Limmud is a private charitable company limited by guarantee, company number 03903050 that is incorporated in England and Wales and domiciled in England. The charitable company’s registered office is Shield House, Harmony Way, London, England, NW4 2BZ.

The principal activity of the charity continued to be the provision of Jewish learning and leadership development events within the UK and also through supporting Limmud communities across the globe.

2. Accounting policies

a) Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011 and the Companies Act 2006. The Charity is a public benefit entity as defined by FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated. The financial statements are presented in Sterling, which is the functional currency of the charity, and are rounded to the nearest £1. The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Charitable Companies accounting policies (see note 3).

b) Going concern

Having assessed the charitable company’s financial position and plans for the foreseeable future the Trustees are satisfied that it remains appropriate to prepare the financial statements on a going concern basis.

c) Fixed assets

Depreciation is provided on all fixed assets to write off the cost over its expected useful life on a straight line basis. The rates used for this purpose are as follows: Computer and Office equipment: 25% straight line Intangible assets: 25% straight line

d) Fund accounting

General funds are unrestricted funds available for use in furtherance of the objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors.

e) Income

All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability. Gift Aid is recognised at the point of receipt from HMRC.

Grants and donations receivable are treated in accordance with their terms and are recognised when the conditions for receipt are complied with. Interest receivable is included on an accruals basis. Deferred income represents amounts received for future years and is released to incoming resources in the year for which it has been received.

15

LIMMUD (a company limited by guarantee) Notes to the accounts for the year ended 30 June 2021

f) Resources expended

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charitable company to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the heading.

Costs of generating funds are those costs involved in attracting voluntary income and activities to generate such funds. Charitable activities include expenditure associated with the facilitation of conferences, organisation of meetings and the processing of grants. Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Support costs represent the costs incurred by staff directly providing support for the facilitation of conferences, meetings and other activities that further the charity’s objects. Support costs that cannot directly be allocated to activity cost categories are then apportioned on a basis consistent with the use of resources.

g) Foreign currencies

Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains or losses on translation are included in the income and expenditure account.

h) Pension contributions

The charitable company contributes to employees’ money purchase pension arrangements. The assets are held separately from those of the charitable company in independently administered funds. The contributions are charged to the statement of financial activities on a payable basis. The contributions paid are shown in note 22.

j) Cash at bank in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less.

k) Creditors

Creditors are measured at transaction price and are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party, and the amount to settle the obligation can be measured or estimated reliably.

l) Financial Instruments

The Charity has only entered into basic financial instrument transactions resulting in the recognition of financial assets and liabilities like trade and other receivables and payables.

m) Taxation

No provision has been made for corporation tax as the Company is of charitable status.

3. Judgements in applying accounting policies and key sources of estimation uncertainty

In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

16

LIMMUD (a company limited by guarantee) Notes to the accounts for the year ended 30 June 2021

4. Voluntary income


Limmud charity (see note
23)
Gift aid on donations
Donations from individuals,
charities and foundations		 Unrestricted
funds
£
Restricted
funds
£
2021
Total
£
2020
Total
£
15,426
-
15,426
10,500
27,905
-
27,905
-
187,282
58,040
245,322
496,164
230,613
58,040
288,653
506,664

Due to the disruption caused by the COVID-19 pandemic, no Gift Aid claim was submitted in 2019/20. A catch-up claim was made in October 2020.

5. Activities for generating funds

Job Retention Scheme
Merchandising income
Miscellaneous income		 Unrestricted
funds
£
Restricted
funds
£
2021
Total
£
2020
Total
£
9,760
-
9,760
5,417
-
-
-
1,084
251
-
251
30
10,011
-
10,011
6,531

6. Investment income

Investment income
Unrestricted Restricted 2021 2020
funds funds Total Total
£ £ £ £
Bank interest 11 - 11 634

7. Incoming resources from charitable activities

Festival
Other Events		 Unrestricted
funds
£
Restricted
funds
£
2021
Total
£
2020
Total
£
109,145
-
109,145 900,344
35,246
110
35,356
47,451
144,391
110
144,501
947,795

8. Costs of generating funds


Costs of generating funds
Cost of producing merchandisable stock
(including donations in 2020/21 to cover costs incurred in 2019/20)
Fundraising activities		 2021
Total
£
2020
Total
£
(134)
6
669
3,844
535
3,850

17

LIMMUD (a company limited by guarantee) Notes to the accounts for the year ended 30 June 2021

9. Resources expended on charitable activities

Festival
International
Regional activities
Volunteer support		 Direct
Costs
£
Direct
Salaries
£
Support
costs
£
2021
Total
£
2020
Total
£
25,781
-
156,247
182,028 1,176,667
16,905
48,077
21,326
86,308
158,479
3,859
-
23,156
27,015
31,485
2,088
-
12,527
14,615
696
48,663
48,077
213,256
309,966 1,367,327

10. Allocation of support costs

Salaries
Office & admin costs
Insurance
Information technology
Governance costs
Professional fees
Bank charges
Depreciation		 Festival
International
Other
Events
Volunteer
Support
2021
Total
2020
Total
72,526
9,899
10,748
5,815
98,988
186,455
32,374
4,419
4,798
2,596
44,186
25,606
6,556
895
972
526
8,948
10,569
22,791
3,111
3,378
1,827
31,106
16,572
465
64
69
37
635
(284)
17,337
2,366
2,569
1,390
23,662
30,030
562
77
83
45
767
3,498
3,637
496
539
292
4,964
6,095
156,247
21,326
23,156
12,527 213,256
278,541

The charity allocates its support costs and apportions them between the charitable activities undertaken. Support costs are allocated on a basis consistent with the use of resources.

11. Net (outgoing)/incoming resources

This is stated after charging:

Depreciation Write-off of fixed assets Auditors’ remuneration Operating lease payment

2021 Total £ 4,964 4,172 8,000 11,250

12. Staff costs

Staff costs during the year amounted to:

Salaries and wages Social security costs Pension costs Including ex-gratia payment

2021 2020
Total Total
135,400 236,568
6,170 20,205
2,218 7,683
143,788 264,456
- 5,617

18

LIMMUD (a company limited by guarantee) Notes to the accounts for the year ended 30 June 2021

Number of employees
during the year:
Charitable activities
Governance		 3
3
1
1
4
4

No employee received more than £60,000 in the year or the prior year.

13. Trustees expenses and remuneration

The trustees of the charity received no remuneration (2020: £Nil). Trustee travel expenses of £528 were reimbursed (2020: £2,462) were reimbursed. Donations totalling £2,616 (2020: £27,519) were made by trustees.

14. Key management personnel remuneration

The charity’s key management personnel was the Deputy Director. Total employment benefits (including employer pension contributions) of key management was £52,354 for the year (2020: £86,110).

15. Fixed Assets

15. Fixed Assets
Cost
At 30 June 2020
Additions
Disposals
At 30 June 2021
Depreciation:
At 30 June 2020
Charge for the year
Disposals
At 30 June 2021
Net book value:
At 30 June 2021
At 30 June 2020
16. Debtors
Other debtors
Prepayments and accrued income		 Computer
and Office
equipment
Intangibles
Total
£
£
£
20,066
4,381
24,447
46
-
46
(12,081)
-
(12,081)
8,031
8,993
3,869
(7,909)		 4,381
12,412
1,570
10,563
1,095
4,964
-
(7,909)
4,953 2,665
7,618
3,078 1,716
4,794
11,073 2,811
13,884
2021
£
2020
£
2,825
27,496
1
12,440
2,826
39,936

19

LIMMUD (a company limited by guarantee) Notes to the accounts for the year ended 30 June 2021

17. Cash at bank and in hand

Bank current accounts
Petty cash
. Creditors: Amounts falling due within one year
Trade creditors
Accruals
Deferred Income
Taxes and social secuity
Other Creditors		 2021
2020
293,510
192,786
-
252
293,510
193,038
2021
2020
2,394
132
13,527
17,425
-
78,539
2,086
124
2,521
2,711
20,528
98,931

18. Creditors: Amounts falling due within one year

18a. Deferred income

Deferred income comprises grants received ahead of scheduled entitlement, and early bookings for Festival. Festival 2021 did not offer an early booking option (and hence there was no deferred revenue as at 30 June 2021).

Balance as at 30 June 2020
Grants released on schedule
Festival 2020 income released in 2020/21
Festival 2021 income received in 2020/21
Grants received ahead of schedule
At 30 June 2021		 Deferred
Revenue
78,539
(12,950)
(65,589)
-
-
-

19. Funds

. Funds
Unrestricted Funds
General fund
Restricted Funds
International/European
support
Other donations from
charities and foundations
Name of fund
International/European
support		 Balance at
1 July 2020
Incoming
Outgoing
Fund
transfers
Balance at
30 June 2021
103,035
385,026
(214,193)
-
273,868
34,892
58,150
(86,308)
-
6,734
10,000
-
(10,000)
-
-
147,927
443,176
(310,501)
-
280,602
Purpose of fund
To support the furtherance of the objectives of the charity in Europe
and Internationally

To support the furtherance of the objectives of the charity in specific Other donations projects and events

20

LIMMUD (a company limited by guarantee) Notes to the accounts for the year ended 30 June 2021

20. Commitments under operating leases

At 30 June 2021, the Company had future minimum lease payments under noncancellable operating leases as follows:

Land & Buildings
Not later than 1 year
Later than 1 year and not later than 5 years		 2021
2020
-
2,104
-
-
-
2,104

Lease payment recognised in the year as an expenses amounted to £11,250.

21. Members’ funds

The charitable company is limited by guarantee. Each member has paid £1.

22. Pension Commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. During the year amounts of £2,218 (2020: £7,683) were charged to the profit and loss and at the balance sheet date £443 (2020: £Nil) was outstanding.

23. Related party transactions

Limmud ‘the charity’ continues to operate and receives donations. At the year end the net income received was donated to the charitable company in the amount of £15,426 (2020: £10,500). It is the charity’s intention for future years to continue donating the income they receive to the charitable company. There were no other transactions with related parties as required to be disclosed under FRS 102.

24. Controlling party

The charity is controlled by the Board of Trustees.

21