**Registered number: 04759599 Charity number: 1098206**
**MACCABI GB (A company limited by guarantee)**
## **TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2020**
## **MACCABI GB (A company limited by guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the charity, its Trustees and advisers**|1 - 2|
|**Trustees' report**|3 - 9|
|**Independent auditors' report on the financial statements**|10 - 13|
|**Statement of financial activities**|14|
|**Balance sheet**|15|
|**Statement of cash flows**|16|
|**Notes to the financial statements**|17 - 37|
**MACCABI GB**
**(A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Trustees**
David Pinnick, Chair Michael Ziff, President Jonathan Prevezer Joel Nathan Marc Levy Ian Aarons (appointed 26 February 2020) Martin Berliner (appointed 4 January 2021)
## **Company registered number**
04759599
## **Charity registered number**
1098206
## **Registered office**
Shield House Harmony Way Hendon London NW4 2BZ
## **Company secretary**
Marc Levy
## **Chief executive officer**
Ashley Lerner
## **Independent auditors**
Nyman Libson Paul LLP Chartered Accountants 124 Finchley Road London NW3 5JS
## **Bankers**
Barclays Bank UK PLC 1 Churchill Place London E14 5HP
Page 1
## **MACCABI GB**
**(A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Solicitors**
Womble Bond Dickinson (UK) LLP 4 More London Riverside London SE1 2AU
Page 2
**MACCABI GB**
**(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
The Trustees present their annual report together with the audited financial statements of the charity for the year 1 January 2020 to 31 December 2020. The annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the charity qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Structure, governance and management**
## **Governing Document**
Maccabi GB was established as a charitable company limited by guarantee on 9 May 2003 and is registered with the Charity Commission under charity number 1098206. The charity's affairs are governed by its Memorandum and Articles of Association which allow for any activities covered by the charity's objectives with no specific restrictions. The liability of the members in the event of the company being wound up is limited to a sum not exceeding £10.
## **Trustees**
The Trustees of the charity are also the directors of the company for the purpose of company law and any reference to Trustees is therefore also to directors. Those who served since 1 January 2020 were:
David Pinnick, Chair Michael Ziff, President Marc Levy Jonathan Prevezer Joel Nathan Ian Aarons (appointed 26 February 2020) Martin Berliner (appointed 4 January 2021)
## **Organisational structure and decision making policies**
The board of Trustees is the governing body which administers the charity. All major decisions are made by the Board which meets regularly to discuss and formulate policy and to decide on strategy. A scheme of delegation is in place and day to day responsibility for the affairs of the charity (including operational matters) rests with the Chief Executive and the professional team.
## **Induction and training of Trustees**
The Charity ensures that any volunteer, member of staff or Trustee of the organisation undergoes an in depth induction process. Specifically, every Trustee is shown a short film about Maccabi GB detailing the breadth of work undertaken by the Charity. They receive a health and safety briefing with information about the Maccabi GB office environment and the risk assessment process that is completed at all programme and event venues. Additionally each Trustee spends time in the office gaining knowledge of what is done on a day to day basis. They see each department individually to understand the annual calender and to meet the team.
Page 3
**MACCABI GB**
**(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Risk management**
The board of Trustees is responsible for the management of the risks faced by the charity.
All major risks to which the charity is exposed have been identified, assessed and controls established as appropriate.
The major strategic and operational risks which the charity faces include the loss of income due to lack of donations and, to a lesser extent, exchange rate fluctuations.
The Trustees have examined these risks and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks. The Finance Committee closely monitors expenditure against budgets on a bi monthly basis and any variations are immediately reported and acted upon. Cash flow is also reviewed, and is monitored on a weekly basis.
## **Objectives and activities**
Maccabi GB is Britain’s leading Anglo Jewish Sport, Health and Wellbeing Charity. Part of a global movement operating in over 70 countries, our mission is to support the long term future of British Jewry by engaging and developing the entire Jewish Community with a broad range of sporting, educational, social and health and wellbeing activities, whilst promoting Jewish Identity and the centrality of Israel.
As the only Jewish Charity operating in the recreational arena, we are reaching more people today than at any time in our history.
Each year, via 250 targeted projects, programmes and events, we reach over 50,000 people nationally. A dedicated team of professionals and volunteers, based in London, the North of England and Scotland, achieves this.
The annual programmes we create are designed to engage as many members of the Community as possible via a diverse range of opportunities. From operating in a significant number of Jewish Schools in Britain, to participating in the Maccabiah Games in Israel, from 7,500 people attending the Maccabi GB Community Fun Run, to the Elliott Simmons Challenge Israel Tour for young people with mild to moderate learning difficulties. No matter how old you are, what ability or religious observance you hold, Maccabi GB strives ‘for an active Jewish Community’.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **Achievements and performance - Maccabi GB Annual Report**
Like all charities in the sector, COVID-19 forced us to evaluate our offerings, identify our key priorities and to migrate all our services to online platforms, whilst keeping true to our aims and objectives. Looking back at 2020, we believe we were successful at remaining a relevant and key organisation within the communal landscape. We strived to provide meaningful engagements to the various target markets through our main areas of focus; sport, health and wellbeing, community and informal education.
Page 4
**MACCABI GB**
**(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Maccabi GB Programming**
Whilst some programmes have been adapted, our overall offering has not decreased. Different opportunities have been explored and wider more diverse target markets have been reached, maximising the use of technology, and engaging more of the Community in Great Britain and those across the Maccabi worldwide network.
## Highlights of the activities in the period were:
The Yellow Candle Project, on the eve of Yom HaShoah 20th April 2020, saw Maccabi GB distribute 50,000 Yellow Candles within the UK and worldwide, with over 260 cross communal organisations involved. On the eve of Yom HaShoah, #yellowcandleuk was trending second in the UK, had over 16,000 impressions on Twitter and reached 35,000 views on Facebook. A new yellowcandleuk.org website had over 6,000 views.
The ‘Maccabi GB Community Fun Run @ Home Online’ took place on 24th May 2020. Over 50 charities participated, along with more than 500 members of the Community taking part by walking, jogging or running at home, collectively raising over £75,000 for the Community’s frontline services. Over 30 countries worldwide also held their own event.
We successfully held a series of Zoom meetings entitled ‘An evening with….’; events with Jewish sport personalities including Nick Bitel, Joe Jacobson and Georgina Cohen which engaged over 400 people and received over 3,000 views.
Between 10th and 17th December, Maccabi Tzair, the youth movement of Maccabi World Union, held the 76th Maccabi Torch Relay. We facilitated 60 virtual educational sessions, to schools, youth groups and care homes across the country enabling over 2,000 young people to learn about the story of Chanukah and the Maccabi movement.
Partnerships with Jewish Blind and Disabled, Langdon, Jami and Jewish Care offered their residents, members and communities a range of sport, health and wellbeing activities and online campaigns, which engaged over 200 people and received over 1,000 views.
Before the Pandemic, we organised Jewish Walking Tours in London which then moved online to become Virtual Walking Tours of Florence, Budapest and Venice giving over 300 people the opportunity to virtually visit a European City whilst learning about Jewish culture and identity.
The Sports department delivered PE lessons to 3 Jewish primary schools and continued to do so throughout 2020, engaging over 750 children each week, whenever schools were open.
Our Streetwise project, which delivers Personal Health and Social Education (“PSHE”) curriculum sessions in 65 Jewish Primary and Secondary schools nationwide, continued to operate throughout the lockdown. Overall, in 2020, the project reached over 13,000 young people in schools (both online and in-person). Streetwise also engaged over 7,000 young people online.
Our Stand Up! project continued to engage young people via online sessions, reaching over 6,500 young people throughout the year. Stand Up! also engaged over 1,500 young people online, through lessons in 45 local authorities across the country.
The summer term of 2020, saw an innovative and new way of engaging with our 100 young Leadership participants. The 'Chats and Snacks' daily programme saw over 60 professionals engage in meaningful Q&A sessions with our leadership participants. They, as well as their parents, saw the value of a daily activity which would inspire and empower at a time where young people's regular structures were completely broken down.
Page 5
**MACCABI GB**
**(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
The Summer Activate Project, saw 35 members of our leadership cohort work together in 9 different teams to come up with an idea for a Maccabi GB Online Event. After 18 hours of training and development, the winning project - ‘Maccabi GB International Kit Project’ – was launched worldwide in August and has engaged with over 3,000 people
Moving our events online, we found we engaged more people across the UK and beyond than we normally could reach at our in-person events. Through all our online programmes and events, we reached over 1 million people on our social media platforms which is 85% higher than we would engage in a ‘normal’ year.
We also held our first ever online fundraising campaign at the end of 2020 based around Chanukah. This brought in income of over £30,000 and we plan to repeat this annually to reduce our reliance on individual donors.
## **The next 12 months**
Our aim is always to reach more people each year and to develop each programme to suit the needs of our community and participants. The impact of the pandemic has meant we have had to make strategic decisions over our programming priorities based on our reduced budget and staffing levels. We want to engage as many of the community as possible in all our programmes through our school sport and/or informal education programmes. Over the years, we have seen participants go through a journey of Maccabi GB programmes from School Sports PE Curriculum lessons to Inter School Tournaments to our Leadership Programmes and then onto volunteering at our communal events, to even working for Maccabi GB as an end result.
## **Events**
Regarding specific events, we are sad to report that the Maccabi GB Community Fun Run had to be postponed in 2020 but we are pleased to report that the event was held again successfully on Sunday 29th August 2021.
We were excited to hold our inaugural Interfaith Fun Run on Monday 30th August 2021 which followed the same model as the Maccabi GB Community Fun. The Interfaith Faith Run, thanks to support from The Exilarch's Foundation, under the auspices of Her Majesty's Lord-Lieutenant of Greater London's Council on Faith and being run in partnership with the Faith & Belief Forum, is a brand new initiative and presents opportunities for communities to come together and unite following a challenging year. For us, this is part of our increasing outward facing programmes, ensuring that we are not only part of the Jewish Community but part of wider British society.
## **A New Home for Maccabi GB**
Maccabi GB will be moving into their new headquarters in early 2022. In December 2017, after 40 years of ownership, the Kenton Youth Aid Trust, an affiliated organisation of Maccabi GB, transferred their property in Kenton to Maccabi GB.
In its heyday, the Kenton Maccabi building was at the centre of communal life in the local area but unfortunately, along with many community centres, trends and demands have changed over time. As a result, the building has become underutilised and in urgent need of structural and strategic modernisation. As a wellestablished community organisation, Maccabi GB is best placed to once again breathe life into this space, by inhabiting the building and taking advantage of the large community space it has to offer.
The building measures 9,000 sq. ft set over two floors. Once the refurbishment is complete, the ground floor will house the offices and community space whilst the first floor will contain a purpose-built sports and community hall. It is our aim to utilise the office space to not only promote our work but to also create a hub for the local community.
Page 6
```
MACCABI GB
(A company limited by guarantee)
```
## **`TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020`**
## **`In Conclusion`**
```
As with most charities, it has been a difficult year for Maccabi GB but through the hard work, loyalty and
dedication of our employees and support of the trustees, we have come through this period of crisis, creating a
new, updated and relevant path forward. We are proud to have organised the largest single-day event in the
Community, the Maccabi GB Community Fun Run, to be the leading deliverer of informal education within the
Community with our Streetwise, Stand Up! and School Sports Programmes and, with our Yellow Candle
Project, we provide the main Holocaust remembrance initiative within the Community. We have been the
driving force behind the provision of health, wellbeing and informal educational programmes for the Community
during the Pandemic and this will remain a key focus for the next 12 months and beyond.
```
## **`Financial review`**
```
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and
Articles of Association, 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 Statement of Financial Activities set out on page 14 of the financial statements shows how Maccabi GB's
incoming resources have been expended during the year ended 31 December 2020.
```
```
Total incoming resources amounted to £1,074,269 generated by way of donations and grants of £718,519,
activities in furtherance of Maccabi GB’s objectives of £284,007, returns on investments of £11,606 and other
income of £60,137.
```
```
Resources expended amounted to £1,084,348; £723,743 by way of direct charitable expenditure, £345,976 by
way of governance costs and £14,629 on fundraising. An analysis of the resources expended is provided in
notes 7 and 8, together with the Appendix on pages 39-40 of the financial statements.
```
```
Gains on revaluation of the investment portfolio at the year end amounted to £19,889. The resulting net surplus
for the year was £9,810 (2019: net deficit of £341,580), which comprised of a net increase on the endowment
fund of £11,419, a net decrease on the restricted funds of £30,411 and a net increase on the unrestricted funds
of £28,802.
```
```
The balance sheet set out on page 15 of the financial statements shows the financial position of Maccabi GB at
31 December 2020.
```
```
After deducting the charge for depreciation, the net book value of fixed assets was £1,468,350.
```
```
Fixed asset investments of £495,876 is the market value of the investment portfolio at the balance sheet date,
which is held as part of the endowment fund.
```
```
Current assets are represented by debtors of £132,441 and cash at bank and in hand of £476,933.
```
```
Total assets less current liabilities amounted to £2,405,225 (2019: £2,395,415) which is represented by the
closing balances on the restricted funds of £526,024, endowment fund of £407,125 and general unrestricted
funds of £1,472,076 (comprising designated funds of £1,434,657 and general funds of £37,419.
```
```
Maccabi GB relies very much on the financial support of our Patrons and all of our supporters, to whom we
wish to express our sincere thanks.
```
```
Page 7
```
**MACCABI GB**
**(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **Reserves policy**
It is the desired policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months' expenditure.
Due to the nature of the charity's work, the reserves policy is such that expenditure is incurred as required and reserves are maintained at a level to meet ongoing commitments. The charity does not actively try and maintain any surplus reserves but is constantly monitoring its financial position to ensure that there is funding in place to complete all the projects it has committed to undertake.
In January 2016 the Board took the decision to set a target going forward of a level of free reserves of £100,000 to ensure the charity had sufficient funds to meet day to day working capital requirements.
The charity incurred a small surplus in 2020, following a large deficit in 2019, and as a result the free reserves of the charity are lower than desired. At the end of the year, after transferring the designated funds put aside for the purchase of a property to unrestricted funds, free reserves stood at £3,726. The Board is satisfied that there are adequate resources to fund activities and will aim to increase free reserves going forward.
## **Investment policy**
The Trustees' investment powers are governed by the Memorandum and Articles of Association which permit the charity's funds to be invested in a wide range of securities and assets.
The Board's investment policy is to aim for safety commensurate with immediate and planned spending requirements. The charity holds a diversified portfolio of widely spread investments which are managed by professional investment advisers in order to minimise the downside risk.
The Trustees will continue to manage the Trust's investments to confirm with this policy and the governing document. They aim to ensure that adequate liquid assets are held before further investments are made.
## **Asset cover for funds**
The Trustees are of the opinion that as at the balance sheet date, the assets plus the budgeted future funding are sufficient to meet the charity's obligations on a fund by fund basis.
## **Arrangements for setting pay and remuneration of charity's key management personnel and criteria for setting pay**
In order to set pay and remuneration of key management personnel, the Chief Executive Officer and Senior Management Team rate each individual's performance against key performance indicators set at the start of each year. Once a level of pay is agreed then these are taken to the Chairman of the Board who then approves the remuneration.
Page 8
**MACCABI GB**
**(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Statement of Trustees' responsibilities**
The Trustees (who are also the directors of the charity for the purposes 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).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any
- material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
- charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Disclosure of information to auditors**
Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:
- so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are
- unaware, and
• that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
## **Auditors**
The auditors, Nyman Libson Paul LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of _________________________________________________ and signed on their behalf by: 29/09/2021
of the board of Trustees on and signed on their behalf by: David Pinnick David Pinnick (Sep 29, 2021 15:10 GMT+1)
**----- Start of picture text -----**
Marc Levy (Sep 29, 2021 17:17 GMT+1)
**----- End of picture text -----**
Page 9
**MACCABI GB (A company limited by guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MACCABI GB**
## **Opinion**
We have audited the financial statements of Maccabi GB (the 'charity') for the year ended 31 December 2020 which comprise the Statement of financial activities, the balance sheet, the statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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:
- give a true and fair view of the state of the charitable company's affairs as at 31 December 2020 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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**
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Page 10
**MACCABI GB (A company limited by guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MACCABI GB (CONTINUED)**
## **Other information**
The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditors' report thereon. 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.
In connection with our audit of the financial statements, 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 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.
We have nothing to report in this regard.
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- the Trustees' report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our 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 in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report.
Page 11
**MACCABI GB**
**(A company limited by guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MACCABI GB (CONTINUED)**
## **Responsibilities of trustees**
As explained more fully in the trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes 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 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.
## **Auditors' 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 auditors' 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:
We gained an understanding of the legal and regulatory framework applicable to the charity and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that 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.
We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. 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. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.
Page 12
**MACCABI GB**
**(A company limited by guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MACCABI GB (CONTINUED)**
## **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 company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
**Jennifer Pope (senior statutory auditor)** for and on behalf of **Nyman Libson Paul LLP** Chartered Accountants Statutory Auditors 124 Finchley Road London NW3 5JS
Date:
Page 13
**MACCABI GB**
**(A Company Limited by Guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020**
|Note
**Income and endowments**
**from:**
Donations and legacies
3
Charitable activities
4
Investments
5
Other Income
6
**Total income and**
**endowments**
**Expenditure on:**
Raising funds
7
Charitable activities
8
**Total expenditure**
**Net expenditure before**
**investment gains /**
**(losses)**
Net gains/(losses) on
investments
**Net income /**
**(expenditure) before**
**transfers**
Transfers between Funds
17
**Net income / (expenditure)**
**and net movement in**
**funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried**
**forward**|Unrestricted
funds
2020
£
532,811
31,162
11,606
60,137
635,716
10,868
718,913
729,781
(94,065)
-
(94,065)
122,867
28,802
8,617
37,419|Designated
funds
2020
£
-
-
-
-
-
-
-
-
-
-
-
-
-
1,434,657
1,434,657|Designated
funds
2020
£
-
-
-
-
-
-
-
-
-
-
-
-
-
1,434,657
1,434,657|Restricted
funds
2020
£
185,708
252,845
-
-
_438,553
1,098
350,806
351,904
86,649
5,807
92,546
(122,867) )
(30,411)
556,435
526,024|Endowment
funds
2020
£
-
-
-
-|
|Total
funds
2020
£
718,519
284,007
11,606
60,137
1,074,269
14,629
1,069,719
1,084,348
(10,079)
19,889
9,810
-
9,810
2,395,415
2,405,225||Total
funds
2019
£
634,124
1,374,795
16,055
-
2,024,974
48,108
2,368,592
2,416,700
(391,726)
50,146
(341,580)
-
(341,580)
2,736,995
2,395,415|
|---|---|---|---|---|---|---|---|---|---|
||||||-|||||
||||||
2,663
-|||||
||||||2,663|||||
||||||
(2,663)
14,082|||||
|||
|||
11,419
`-`|||||
||||||11,419
395,706|||||
||||||
407,125|||||
The notes on pages 17 to 37 form part of these financial statements.
Page 14
**(A Company Limited by Guarantee)**
## **MACCABI GB**
## **BALANCE SHEET AS AT 31 DECEMBER 2020**
|Note
**Fixed assets**
Tangible assets
12
Investments
13
**Current assets**
Debtors
14
Cash at bank and in hand
**Creditors:**amounts falling due within one
year
15
**Net current assets**
**Net assets**
**Charity Funds**
Endowment funds
17
Restricted funds
17
Designated funds
17
Unrestricted funds
17
**Total funds**|£
132,441
476,933|2020
£
1,468,350
495,876|£
203,335
585,693|2019
£
1,441,782
479,748
1,921,530
473,885
2,395,415
395,706
556,435
1,434,657
8,617
2,395,415|
|---|---|---|---|---|
|||
1,964,226
440,999|||
||
609,374
(168,375)||
789,028
(315,143)||
||||
||
|||
2,405,225|||
|||
407,125
526,024
1,434,657
37,419|||
|||
2,405,225|||
The financial statements were approved and authorised for issue by the Trustees on and signed on their behalf, by:
**David Pinnick** David PinnickDavid Pinnick (Sep 29, 2021 15:10 GMT+1) **Marc Levy** Marc Levy (Sep 29, 2021 17:17 GMT+1)
The notes on pages 17 to 37 form part of these financial statements.
Page 15
**MACCABI GB**
**(A company limited by guarantee)**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Dividends, interests and rents from investments
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**|2020
£
(90,235)
11,606
(30,131)
(18,525)
(108,760)
585,693
476,933|2019
£
(590,935)
15,842
(20,012)
(4,170)
(595,105)
1,180,798
585,693|
|---|---|---|
The notes on pages 17 to 37 form part of these financial statements
Page 16
**MACCABI GB (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. General information**
Maccabi GB is a charitable company limited by guarantee, incorporated in England and Wales. The address of its registered office is Shield House, Harmony Way, Hendon, London, NW4 2BZ. The directors of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Maccabi GB meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Going concern**
At the reporting date the charity had net current assets of £440,999. It also had £1,472,076 of unrestricted funds however £1,468,350 of this comprises fixed assets leaving unrestricted free reserves carried forward of £3,726.
The Trustees have reviewed the circumstances of the charity and consider that although resources continue to be available to fund the activities of the charity for the foreseeable future, there is uncertainty about the strength of the charity’s future financial position due to the ongoing impact of Covid-19 on the charity sector and the economy in general. Although the potential effects of the coronavirus can be modelled, it is very difficult to determine the assumptions that will prove to be most appropriate and therefore there is an element of uncertainty existing that cannot be quantified.
Due to the measures implemented by the government the charity expected to receive significantly less income during the financial year, due to the cancelling and postponing of most major events that would have otherwise happened in summer 2020. The majority of income lost was offset by the lack of associated costs, but there are losses with regards to deposits paid, as well as administrative and other sunk costs. This will have a knock on effect and the charity expects to see an improved 2021/2022 when organisations "catch up" with the sporting calender.
To mitigate this going concern risk, the company has taken advantage of fiscal schemes available to it from the government. The company has reviewed initial projections and now aims to minimise its deficit over the next financial year by reducing all non-essential expenditure and maximising event participation when allowed.
Accordingly, the Trustees consider it appropriate for the company to continue to adopt the going concern basis in preparing its financial statements.
Page 17
**MACCABI GB (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **2. Accounting policies (continued)**
## **2.3 Income**
All income is recognised once the charity has entitlement to the funds, any performance conditions have been met, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.
Donations and gifts are recognised as incoming resources when they are received, while income from charitable activities, fundraising activities and investment income is recognised on an accruals basis, when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. Gifts in kind are recognised at fair value.
Income in respect of events is recognised when the event takes place.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## **2.4 Expenditure**
Expenditure is charged to the statement of financial activities on an accruals basis, when a constructive obligation has arisen, it is probable that settlement will be required and the amount of the obligation can be measured reliably and is classified as follows:
i) Cost of generating funds - This comprises all costs incurred by the charity associated with attracting voluntary income to finance its charitable objectives.
ii) Charitable expenditure - This comprises all costs incurred by the charity in the delivery of activities and services for its beneficiaries.
iii) Support costs - These comprise central costs including salaries and other expenses necessary to support the activities. These costs have been allocated to activity costs on a basis consistent with the use of resources.
iv) Governance costs - These comprise all costs associated with meeting the constitutional and statutory requirements of the charity.
## **2.5 Government grants**
Government grants are credited to the statement of financial activities as the related expenditure is incurred.
Page 18
**MACCABI GB (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **2. Accounting policies (continued)**
## **2.6 Tangible fixed assets and depreciation**
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
- Freehold property 2% straight line (on completion of refurbishment) - Fixtures and fittings 12.5% straight line - Computer equipment 25% straight line
## **2.7 Investments**
Investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the statement of financial position date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
## **2.8 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.9 Cash at bank and 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 from the date of acquisition or opening of the deposit or similar account.
## **2.10 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.
Page 19
**MACCABI GB (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **2. Accounting policies (continued)**
## **2.11 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.12 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general 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. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
The endowment fund is a restricted fund and is an expendable endowment, not permanent capital. It is available for use at the discretion of the trustees subject to the approval of an Endowment Committee. Income generated from the fund is used in futherance of the general objectives of the charity.
## **3. Income from donations and legacies**
|**Restricted donations**
Maccabi GB National Football Committee
Maccabi GB Junior Football League
International Games Fund
Yellow Candle donations
**Total restricted donations**|Restricted
funds
2020
£
3,305
43,826
25,335
113,242
185,708|Unrestricted
funds
2020
£
-
-
-
-
-|Total
funds
2020
£
3,305
43,826
25,335
113,242|
|---|---|---|---|
||||185,708|
Page 20
**MACCABI GB**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **3. Income from donations and legacies (continued)**
|Donations
Government grants
**Subtotal**
**Restricted donations**
Maccabi GB National Football Committee
International Games Fund
International Events Advance Fund
Yellow Candle donations
**Total restricted donations**
Donations
**Subtotal**|Restricted
funds
2020
£
-
-
-
185,708
Restricted
funds
2019
£
2,970
83,582
17,430
51,437
155,419
-
-
155,419|Unrestricted
funds
2020
£
435,561
97,250
532,811
532,811
Unrestricted
funds
2019
£
-
-
-
-
-
478,705
478,705
478,705|Total
funds
2020
£
435,561
97,250|
|---|---|---|---|
||||532,811|
|||||
||||718,519|
||||Total
funds
2019
£
2,970
83,582
17,430
51,437|
||||155,419|
||||478,705|
||||478,705|
|||||
||||634,124|
Page 21
**MACCABI GB**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **4. Income from charitable activities**
|Entry and participation fees
Stand Up and Streetwise
Entry and participation fees
JCC Games
Pan Am Games
European Games
Stand Up and Streetwise
**5.**
**Investment income**|Restricted
funds
2020
£
-
252,845
252,845
Restricted
funds
2019
£
-
-
-
-
257,100
257,100|Unrestricted
funds
2020
£
31,162
-
31,162
Unrestricted
funds
2019
£
190,375
82,497
207,514
601,645
35,664
1,117,695|Total
funds
2020
£
31,162
252,845|
|---|---|---|---|
||||284,007|
||||Total
funds
2019
£
190,375
82,497
207,514
601,645
292,764|
||||1,374,795|
|||||
||Unrestricted|Total|
|---|---|---|
||funds|funds|
||2020|2020|
||£|£|
|Interest and dividends receivable|11,606|11,606|
Page 22
**MACCABI GB**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **5. Investment income (continued)**
||Unrestricted|Total|
|---|---|---|
||funds|funds|
||2019|2019|
||£|£|
|Interest and dividends receivable|16,055|16,055|
## **6. Other incoming resources**
||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2020|2020|2019|
||£|£|£|
|Foreign exchange gains|60,137|60,137|-|
## **7. Expenditure on raising funds**
## **Costs of raising voluntary income**
|Management charges
Other fundraising expenses|Endowment
funds
2020
£
2,663
-
2,663|Restricted
funds
2020
£
1,098
-
1,098|Unrestricted
funds
2020
£
-
10,868
10,868|Total
funds
2020
£
3,761
10,868|
|---|---|---|---|---|
|||||14,629|
Page 23
**MACCABI GB**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **7. Expenditure on raising funds (continued)**
## **Costs of raising voluntary income (continued)**
|Management charges
Other fundraising expenses|Endowment
funds
2019
£
23,979
-
23,979|Restricted
funds
2019
£
1,135
-
1,135|Unrestricted
funds
2019
£
-
22,994
22,994|Total
funds
2019
£
25,114
22,994|
|---|---|---|---|---|
|||||48,108|
## **8. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|Events
Sports & Youth Development
Tours & Projects
JCC Games
Governance costs|Restricted
funds
2020
£
-
20,251
330,555
-
-
350,806|Unrestricted
funds
2020
£
172,865
106,328
81,745
11,999
345,976
718,913|Total
funds
2020
£
172,865
126,579
412,300
11,999
345,976|
|---|---|---|---|
||||1,069,719|
Page 24
**MACCABI GB**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **8. Analysis of expenditure on charitable activities (continued)**
## **Summary by fund type (continued)**
|Restricted
funds
2019
£
Events
-
Sports & Youth Development
4,204
Tours & Projects
561,046
JCC Games
-
European Games
-
Pan Am Games
-
Governance costs
-
565,250
**9.**
**Auditor's remuneration**
Fees payable to the charity's auditor for the audit of the charity's annual
accounts
Fees payable to the charity's auditor in respect of:
All non-audit services not included above
**10.**
**Staff costs**
Wages and salaries
Social security costs
Pension contributions|Unrestricted
funds
2019
£
288,796
138,269
117,770
82,794
595,547
199,776
380,390
1,803,342
2020
£
6,240
4,800
2020
£
653,166
67,141
11,945
732,252|Total
funds
2019
£
288,796
142,473
678,816
82,794
595,547
199,776
380,390|
|---|---|---|
|||2,368,592|
|||2019
£
6,240
5,700|
|||2019
£
701,717
71,331
11,234|
||||
|||784,282|
Included in payroll costs are £8,360 relating to redundancy payments made during the year.
Page 25
**MACCABI GB**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **10. Staff costs (continued)**
The average number of persons employed by the charity during the year was as follows:
|MGB Central
Major Events
Sport and youth development
Kulanu|2020
No.
5
4
11
-
20|2019
No.
4
6
11
1|
|---|---|---|
||||
|||22|
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
||2020|2019|
|---|---|---|
||No.|No.|
|In the band £60,001 - £70,000|1|1|
|In the band £100,001 - £110,000|||
||1|1|
Key management includes the directors and members of senior management. The compensation paid or payable to key management for employee services during the year was £239,041 (2019: £238,879)
## **11. Trustees' remuneration and expenses**
During the year, the Trustees did not receive any remuneration or other benefits (2019 - £NIL).
During the year, the Trustees did not incur any expenses (2019 - £NIL).
Page 26
**MACCABI GB**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **12. Tangible fixed assets**
|**Cost or valuation**
At 1 January 2020
Additions
At 31 December 2020
**Depreciation**
At 1 January 2020
Charge for the year
At 31 December 2020
**Net book value**
At 31 December 2020
At 31 December 2019|Freehold
property
£
1,434,657
30,131
1,464,788
-
-
-
1,464,788
1,434,657|Fixtures and
fittings
£
47,881
-
47,881
40,756
3,563
44,319
3,562
7,125|Total
£
1,482,538
30,131|
|---|---|---|---|
||||1,512,669|
||||40,756
3,563|
||||44,319|
||||1,468,350|
||||1,441,782|
Page 27
**MACCABI GB**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **13. Fixed asset investments**
|**Cost or valuation**
At 1 January 2020
Additions
Disposals
Revaluations
Movement on cash reserve
**At 31 December 2020**
**Net book value**
**At 31 December 2020**
At 31 December 2019
**Debtors**
**Due within one year**
Other debtors
Prepayments and accrued income|2020
£
-
132,441
132,441|Listed
investments
£
479,748
59,111
(60,173)
19,889
(2,699)
495,876
495,876
479,748
2019
£
28,344
174,991
203,335|
|---|---|---|
## **14. Debtors**
Page 28
**MACCABI GB**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **15. Creditors: Amounts falling due within one year**
|Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
**Financial instruments**
**Financial assets**
Financial assets measured at fair value through income and expenditure|2020
£
6,919
18,298
15,338
127,820
168,375
2020
£
495,876|2019
£
55,819
20,291
2,363
236,670|
|---|---|---|
||||
|||315,143|
|||2019
£
479,748|
## **16. Financial instruments**
Financial assets measured at fair value through income and expenditure comprise of fixed asset investments.
Page 29
**MACCABI GB**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **17. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted**
**funds**
**Designated**
**funds**
Kulanu
**General funds**
General Funds
**Total**
**Unrestricted**
**funds**
**Endowment**
**fund**
Maccabi GB
Endowment
Fund
**Restricted**
**funds**
Leadership and
Streetwise
Projects
International
Events Advance
Funds
Maccabi
Foundation
Pierre
Gildesgame
Fund
Elliott Simmons
Challenge Fund|Balance at 1
January
2020
£
1,434,657
8,617
1,443,274
395,706
-
29,965
273,705
98,896
55,190|Income
£
-
635,716
635,716
-
112,345
-
-
-
-|Expenditure
£
-
(729,781)
(729,781)
(2,663)
(112,345)
-
(1,098)
-
-|Transfers
in/out
£
-
122,867
122,867
-
-
-
(91,200)
-
-|Gains/
(Losses)
£
-
-
-
14,082
-
-
5,807
-
-|Balance at
31
December
2020
£
1,434,657|
|---|---|---|---|---|---|---|
|||||||37,419|
|||||||1,472,076|
|||||||407,125|
|||||||-
29,965
187,214
98,896
55,190|
Page 30
**MACCABI GB**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **17. Statement of funds (continued)**
## **Statement of funds - current year (continued)**
|Maccabi GB
National
Football
Committee
Maccabi GB
Junior Football
League
International
Games Fund
Stand Up!
Reserve Fund
Yellow Candle
Fund
**Total of funds**|Balance at 1
January
2020
£
10,038
-
77,521
11,120
-
556,435
2,395,415|Income
£
3,305
43,826
25,335
140,500
113,242
438,553
1,074,269|Expenditure
£
(3,074)
(17,177)
-
(110,593)
(107,617)
(351,904)
(1,084,348)|Transfers
in/out
£
-
-
-
(31,667)
-
(122,867)
-|Gains/
(Losses)
£
-
-
-
-
-
5,807
19,889|Balance at
31
December
2020
£
10,269
26,649
102,856
9,360
5,625|
|---|---|---|---|---|---|---|
|||||||526,024|
|||||||2,405,225|
Page 31
**MACCABI GB**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **17. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted**
**funds**
**Designated**
**funds**
Kulanu
**General funds**
General Funds
**Total**
**Unrestricted**
**funds**
**Endowment**
**fund**
Maccabi GB
Endowment
Fund
**Restricted**
**funds**
Leadership and
Streetwise
Projects
International
Events Advance
Funds
Maccabi
Foundation
Pierre
Gildesgame
Fund
Elliott Simmons
Challenge Fund|Balance at
1 January
2019
£
-
1,446,955
1,446,955
446,179
-
14,001
616,400
125,896
55,190|Income
£
-
1,612,455
1,612,455
-
127,000
17,430
-
-
-|Expenditure
£
-
(1,826,336)
(1,826,336)
(23,979)
(127,000)
(1,466)
(266,135)
-
-|Transfers
in/out
£
1,434,657
(1,224,457)
210,200
(62,000)
-
-
(91,200)
(27,000)
-|Gains/
(Losses)
£
-
-
-
35,506
-
-
14,640
-
-|Balance at
31
December
2019
£
1,434,657|
|---|---|---|---|---|---|---|
|||||||8,617|
|||||||1,443,274|
|||||||395,706|
|||||||-
29,965
273,705
98,896
55,190|
Page 32
**MACCABI GB**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **17. Statement of funds (continued)**
## **Statement of funds - prior year (continued)**
|Maccabi GB
National
Football
Committee
International
Games Fund
Stand Up!
Reserve Fund
Yellow Candle
Fund
**Total of funds**|Balance at
1 January
2019
£
11,272
21,102
-
-
843,861
2,736,995|Income
£
2,970
83,582
130,100
51,437
412,519
2,024,974|Expenditure
£
(4,204)
(7,163)
(108,980)
(51,437)
(566,385)
(2,416,700)|Transfers
in/out
£
-
(20,000)
(10,000)
-
(148,200)
-|Gains/
(Losses)
£
-
-
-
-
14,640
50,146|Balance at
31
December
2019
£
10,038
77,521
11,120
-|
|---|---|---|---|---|---|---|
|||||||556,435|
|||||||2,395,415|
The Kulanu fund relates to the book value of the charity's freehold property.
The Leadership and Streetwise Projects fund relates to income received for Leadership and Streetwise projects in the local community.
The International Events Advance funds are for future events that Maccabi GB is committee to and received deposits for.
The Elliott Simmons Challenge fund relates to income and expenditure for The Challenge Tour of Israel.
The Maccabi Foundation fund relates to a transfer of £700,000 from another charity, Maccabi Foundation. Maccabi GB may draw down £7,600 a month from this fund, as per the charity's previous agreement with the Foundation. There are also some further restrictions on how a portion of the monies may be spent. These relate to a charitable project, consistent with Maccabi GB’s objectives, that the Maccabi Foundation board had promised to fund prior to transferring the monies to Maccabi GB, subject to certain conditions being satisfied.
The Pierre Gildesgame Fund is restricted to further the education programmes of Maccabi GB.
The Maccabi GB National Football Committee relates to deposits received for the Peter Morrison cup.
The Yellow Candle Fund is a practical and informal educational tool to remember those murdered during the Holocaust.
Page 33
**(A company limited by guarantee)**
## **MACCABI GB**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **18. Summary of funds**
## **Summary of funds - current year**
|Designated
funds
General funds
Endowment
funds
Restricted funds|Balance at 1
January
2020
£
1,434,657
8,617
395,706
556,435
2,395,415|Income
£
-
635,716
-
438,553
1,074,269
Income
£
-
1,612,455
-
412,519
2,024,974|Expenditure
£
-
(729,781)
(2,663)
(351,904)
(1,084,348)
Expenditure
£
-
(1,826,336)
(23,979)
(566,385)
(2,416,700)|Transfers
in/out
£
-
122,867
-
(122,867)
-
Transfers
in/out
£
1,434,657
(1,224,457)
(62,000)
(148,200)
-|Gains/
(Losses)
£
-
-
14,082
5,807
19,889
Gains/
(Losses)
£
-
-
35,506
14,640
50,146|Balance at
31
December
2020
£
1,434,657
37,419
407,125
526,024|
|---|---|---|---|---|---|---|
|||||||2,405,225|
|||||||Balance at
31
December
2019
£
1,434,657
8,617
395,706
556,435|
|**Summary of funds - prior year**|||||||
|Designated
funds
General funds
Endowment
funds
Restricted funds|Balance at
1 January
2019
£
-
1,446,955
446,179
843,861
2,736,995||||||
|||||||2,395,415|
Page 34
**MACCABI GB**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **19. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
||Endowment|Restricted|Unrestricted|Total|
|---|---|---|---|---|
||funds|funds|funds|funds|
||2020|2020|2020|2020|
||£|£|£|£|
|Tangible fixed assets|-|-|1,468,350|1,468,350|
|Fixed asset investments|407,125|88,751|-|495,876|
|Current assets|-|437,273|172,101|609,374|
|Creditors due within one year|-|-|(168,375)|(168,375)|
|**Total**|407,125|526,024|1,472,076|2,405,225|
|**Analysis of net assets between funds - prior**|**period**||||
||Endowment|Restricted|Unrestricted|Total|
||funds|funds|funds|funds|
||2019|2019|2019|2019|
||£|£|£|£|
|Tangible fixed assets|-|-|1,441,782|1,441,782|
|Fixed asset investments|395,706|84,042|-|479,748|
|Current assets|-|472,393|316,635|789,028|
|Creditors due within one year|-|-|(315,143)|(315,143)|
|**Total**|395,706|556,435|1,443,274|2,395,415|
Page 35
**MACCABI GB**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **20. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income/(expenditure) for the period (as per Statement of Financial
Activities)
**Adjustments for:**
Depreciation charges
(Gain)/loss on investments
Dividends, interests and rents from investments
Other movements in investments
Decrease/(increase) in debtors
Decrease in creditors
**Net cash used in operating activities**
**21.**
**Analysis of cash and cash equivalents**
Cash in hand
**Total cash and cash equivalents**
**22.**
**Analysis of changes in net debt**
At 1 January
2020
£
Cash at bank and in hand
585,693|2020
£
9,810
3,563
(19,889)
(11,606)
3,761
70,894
(146,768)
(90,235)
2020
£
476,933
476,933
Cash flows
£
(108,760)|2019
£
(341,580)
3,563
(50,146)
(16,055)
3,888
(23,043)
(167,562)
(590,935)
2019
£
585,693
585,693
At 31
December
2020
£
476,933|
|---|---|---|
Page 36
**MACCABI GB**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **23. Contingent liabilities**
On 1 December 2017 Kenton Youth Aid Trust, a registered charity, effectively merged with Maccabi GB by transferring its freehold property to Maccabi GB. The terms of the merger and the resulting transfer were that, should the property be sold within three years of the transfer date, £350,000 would be payable to a charity or charities of Kenton Youth Aid Trust's choosing. After three years, this amount is to reduce by £50,000 on each subsequent anniversary of the transfer date until the tenth anniversary of the completion date, after which there would be no further liability. The trustees have no plans to dispose of the property.
## **24. Operating lease commitments**
At 31 December 2020 the charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
|Not later than 1 year
Later than 1 year and not later than 5 years|2020
£
26,280
78,840
105,120|2019
£
26,280
105,120|
|---|---|---|
||||
|||131,400|
## **25. Related party transactions**
During the year donations received without conditions from trustees or related parties, amounted to £51,405 (2019: £69,100).
During the year remuneration was paid totalling £67,611 to two family members of Trustees (2019: £45,000 to one family member). The Charity Commission has authorised this remuneration.
Page 37
## **MACCABI GB**
## **APPENDIX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Total Expenditure**
**Basis of**
**allocation**
£
Staff Costs
Staff Time
Rent & Rates
Floor Area
Electricity
Floor Area
Office Repairs and Maintenance
Floor Area
Office Equipment
Floor Area
Computer Maintenance
Floor Area
Insurance
Floor Area
Meetings/AGM
Usage
Postage & Stationery
Staff Time
Phone
Staff Time
Cleaning
Floor Area
Accountancy
Usage
Audit
Usage
Legal
Usage
Travel
Staff Time
Subscriptions
Usage
Donations
Usage
Sundry Expenses
Staff Time
Bank Charges
Transactions
Credit Card Commissions
Transactions
Other
Floor Area
Depreciation
Floor Area
Total costs directly allocated to activities|**Fundraising**
**Events**
**Sports & Youth**
**Development**
**Tours &**
**Projects**
**JCC Games**
**Governance**
**Total**
**Total**
**31.12.20**
**31.12.19**
£
£
£
£
£
£
£
£
-
139,441
75,093
273,644
488,178
556,658
-
6,846
13,691
13,691
2,282
9,128
45,638
45,956
-
873
1,747
1,747
291
1,165
5,823
8,194
-
705
1,409
1,409
235
940
4,698
3,884
-
264
529
529
88
352
1,762
5,206
-
1,582
3,163
3,163
527
2,109
10,544
9,404
-
1,912
3,824
3,824
637
2,549
12,746
12,437
-
-
-
-
-
67
67
511
-
474
294
703
147
506
2,124
5,534
-
1,818
1,129
2,696
564
1,944
8,151
8,513
-
396
793
793
132
528
2,642
5,677
-
-
-
-
-
4,813
4,813
4,453
-
-
-
-
-
6,240
6,240
6,240
-
-
-
-
-
13,246
13,246
17,839
-
615
382
912
191
658
2,758
9,976
-
-
-
-
-
10,520
10,520
20,025
-
-
-
-
-
15,000
15,000
650
-
1,501
932
2,226
466
1,605
6,730
15,573
-
198
78
314
197
-
787
963
-
375
150
600
375
-
1,500
2,500
-
-
-
-
-
249
249
1,778
-
534
1,069
1,069
178
713
3,563
3,563|
|---|---|
||-
157,534
104,283
33,676
6,310
345,976
647,779
745,534
14,629
15,331
22,296
378,624
5,689
-
436,569
1,671,166|
||**14,629**
**172,865**
**126,579**
**412,300**
**11,999**
**345,976**
**1,084,348**
**2,416,700**|
38
## **MACCABI GB**
## **APPENDIX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Costs directly allocated to activities**
Advertising
Direct
Merchandise
Direct
Web Site Build and Maintainance
Direct
Investment management charges
Direct
Events Expenditure
Direct
Challenge
Direct
Schools & Sports
Direct
Streetwise & Leadership
Direct
European Maccabi Football Trophy
Direct
Maccabi GB Sports Expenditure
Direct
Maccabiah Games
Direct
Maccabi Youth Games
Direct
European Congress
Direct
EMG
Direct
Pan American Games
Direct
JCC Games
Direct
Training and Development
Direct
Plenum
Direct
Yellow Candle Project
Direct
Maccabi GB NFC
Direct
Maccabi GB JFL
Direct
Maccabi London Brady
Direct
Manchester Maccabi
Direct
International events advanced fund
Direct
International games endowment fund
Direct
PG Education fund
Direct
Other direct
Direct
**Total costs directly allocated to activities**
**Basis of**
**allocation**|**Total**
**Total**
**31.12.20**
**31.12.19**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
£
8,492
-
-
-
-
-
8,492
23,545
(4,230)
-
-
-
-
-
(4,230)
1,558
6,606
-
-
-
-
-
6,606
6,457
3,761
-
-
-
-
-
3,761
3,888
-
15,131
-
-
-
-
15,131
101,304
-
-
-
-
-
-
-
-
-
-
-
8,485
-
-
8,485
32,234
-
-
-
253,956
-
-
253,956
269,753
-
200
-
-
-
-
200
-
-
-
-
1,255
-
-
1,255
11,304
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,566
-
-
-
1,566
2,957
-
-
-
-
-
-
-
595,547
-
-
-
-
-
-
-
199,776
-
-
-
-
5,689
-
5,689
74,382
-
-
479
-
-
-
479
4,259
-
-
-
-
-
-
-
5,126
-
-
-
107,617
-
-
107,617
52,312
-
-
3,074
-
-
-
3,074
4,204
-
-
17,177
-
-
-
17,177
-
-
-
-
-
-
-
-
135,000
-
-
-
-
-
-
-
130,000
-
-
-
-
-
-
-
1,466
-
-
-
-
-
-
-
7,163
-
-
-
-
-
-
-
-
-
-
-
7,311
-
-
7,311
8,931
**Governance**
**Fundraising**
**Events**
**Sports & Youth**
**Development**
**Tours &**
**Projects**
**JCC Games**|
|---|---|
||**14,629**
**15,331**
**22,296**
**378,624**
**5,689**
**-**
**436,569**
**1,671,166**|
39
## Maccabi GB Audited Accounts 2020
Final Audit Report
2021-09-29
Created: 2021-09-27 By: Daniel Morris (danielmorris@maccabigb.org) Status: Signed Transaction ID: CBJCHBCAABAAZuvUVUIIpQCgwc8kGtkfxjUffkwCTRMe
## "Maccabi GB Audited Accounts 2020" History
## Document created by Daniel Morris (danielmorris@maccabigb.org)
2021-09-27 - 11:29:19 AM GMT- IP address: 81.150.13.183
Document emailed to David Pinnick (david@maccabigb.org) for signature
2021-09-27 - 11:34:08 AM GMT
## Email viewed by David Pinnick (david@maccabigb.org)
2021-09-29 - 2:10:04 PM GMT- IP address: 176.248.53.102
## Document e-signed by David Pinnick (david@maccabigb.org)
Signature Date: 2021-09-29 - 2:10:53 PM GMT - Time Source: server- IP address: 176.248.53.102
Document emailed to Marc Levy (marclevy@maccabigb.org) for signature 2021-09-29 - 2:10:55 PM GMT
Email viewed by Marc Levy (marclevy@maccabigb.org) 2021-09-29 - 4:09:24 PM GMT- IP address: 176.27.2.28
## Document e-signed by Marc Levy (marclevy@maccabigb.org)
Signature Date: 2021-09-29 - 4:17:43 PM GMT - Time Source: server- IP address: 176.27.2.28
## Agreement completed.
2021-09-29 - 4:17:43 PM GMT