OpenCharities

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

← Maccabi GB

2021-12-31-accounts

Registered number: 04759599 Charity number: 1098206

MACCABI GB

(A company limited by guarantee)

SS aE SS ee ae EE ER ee RS SERA SE EY Sa ES EES Oe TER PS BaP SEESTS Oy EE ae ape ERS PE ST

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

MACCABI GB

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details ofthe charity, its Trustees and advisers 1
Trustees’ report 2-8
Independent auditors’ report on the financial statements 9-12
Statement of financial activities 13
Balance sheet 14-15
Statement ofcash flows 16
Notestothefinancialstatements 17-36

MACCABI GB

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021

Trustees

Michael Ziff, President Jonathan Prevezer, appointed as Chair on 16 December 2021 Joel Nathan Marc Levy lan Aarons Natalie Kenton (appointed 8 September 2022) Lady Deborah Kestenbaum (appointed 8 September 2022)

Company registered number

04759599

Charity registered number

1098206

Registered office

The Stanley S. Cohen OBE Centre Shaftesbury Avenue Kenton Harrow HA3 ORD

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

Solicitors

Womble Bond Dickinson (UK) LLP 4 More London Riverside London SE1 2AU

Page 1

MACCABI GB (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees present their annual report together with the audited financial statements of the charity for the year 1 January 2021 to 31 December 2021. 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 2021 were:

David Pinnick, Chair (resigned 27 July 2022) Michael Ziff, President Marc Levy Jonathan Prevezer, Chair Joe] Nathan lan Aarons Martin Berliner (appointed 4 January 2021, resigned 16 December 2021) Natalie Kenton (appointed 8 September 2022) Lady Deborah Kestenbaum (appointed 8 September 2022)

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 calendar and to meet the team.

Page 2

MACCABI GB

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

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 approximately 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 2,000 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

Following on from a challenging 2020, despite 2021 starting in lockdown, Maccabi GB were one of the first organisations to restart in-person communal events and start bringing the community back together. We continued to provide meaningful engagements to the various target markets through our 3 keys areas of focus; sport, community and informal education.

Page 3

MACCABI GB

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Maccabi GB Programming

Highlights of the activities during the period were:

The Yellow Candle Project on the eve of Yom HaShoah, 7th April 2021 saw Maccabi GB distribute over 25,000 Yellow Candles within the UK and worldwide, with 132 cross communal organisations involved. On the eve of Yom HaShoah #yellowcandleuk was trending first in the UK and had over 30,000 impressions on Twitter. The yellowcandleuk.org website had 4,637 unique visitors.

Maccabi GB kick-stared mass-participation communal events with the return of the Maccabi GB Community Fun Run on Sunday 29th August. Thousands of people attended the largest in-person event since the pandemic. 76 charities participated in the event raising over £60,000 for their causes.

The first ever London Interfaith Fun Run took place on Monday 30th August. The event which mirrors the Maccabi GB Community Fun Run, was held in partnership with the Faith & Belief Forum and with support of Dangoor Education and Her Majesty's Lord-Lieutenant of Greater London's Faith Council and brought together hundreds of people from different faiths and groups. 36 charities participated in the event with hundreds of people attending throughout the day.

Between 28th November and 6th December, Maccabi Tzair, the youth movement of Maccabi World Union, held the 77th Maccabi Torch Relay. Maccabi GB facilitated 25 virtual educational sessions, to schools, youth groups and care homes across the country enabling over 1,000 young people to learn about the story of Chanukah and the Maccabi movement.

Partnerships with Jewish Blind and Disabled and Langdon offered their residents, members and communities a range of sport, health and wellbeing activities, engaging 250 people.

Two ‘Virtual Walking Tours’ of Florence in February 2021 and Venice in May 2021 with over 200 people taking part.

Our final two ‘An Evening In With...’ events took place featuring Gary Lewin, former physiotherapist at Arsenal Football Club and England and Nigel Wray, former Chairman of Saracens Rugby Club.

The Sports department continued to deliver PE lessons to 3 Jewish primary schools, engaging over 770 children each week, whenever schools were open. 2021 also welcomed the return of our Inter-School Sports Tournaments and engaged over 1,000 young people

Our Education Department has returned to full time delivery of workshops in Jewish and non-Jewish Schools. Our Streetwise team have seen over 20,000 young people through 670 sessions delivered. Our Leadership by Streetwise Programme has fully returned in person and we have 100 participants signed up on the current cohort. Our Stand Up! Education Against Discrimination team saw over 15,000 young people engaged over 450 sessions in 65 schools.

The 21st Maccabiah Games were due to take place in July 2021 but due to the Pandemic the games were moved to July 2022. Our delegation will be approximately 500 people; one of the largest we have ever taken.

Page 4

MACCABI GB

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

A New Home for Maccabi GB

In June 2021, the refurbishment project of our building in Kenton commenced with the plan to move there in early 2022.

The building is 9,000 sq. ft set over two floors. The ground floor will house offices and community space and the first floor contains a purpose-built sports and community hall. It is our aim to create a new community hub.

In Conclusion

Maccabi GB delivers a broad range of Health and Wellbeing programmes directly to the Community, through partnerships built with over 100 organisations aiming its services to people of all ages, abilities and social backgrounds. Our events such as the Community Fun Run and the inaugural London Interfaith Fun Run help those who participate keep active and fit by way of the run or walk they sign up to participate in and the charities who take part benefit from raising funds via the recruitment of runners. Even in this year, where participant numbers were not as high as previous years, the charities benefited by collectively having raised tens of thousands of pounds for their members.

Informal Education has become core to the Maccabi GB programme with thousands of young people reached in Jewish and non-Jewish primary and secondary schools on a yearly basis during term time. With topics ranging from anti-bullying, online safety, relationships & sex education, discrimination and leadership (amongst many others), Maccabi GB aims to empower and inform young people, giving them the skills and tools necessary to lead healthy lives whilst taking a leading role in tackling injustices of all types.

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 13 of the financial statements shows how Maccabi GB's incoming resources have been expended during the year ended 31 December 20271.

Total incoming resources amounted to £1,403,993 generated by way of donations and grants of £968,751, activities in furtherance of Maccabi GB’s objectives of £423,665, and returns on investments of £11,577.

Resources expended amounted to £960,206; £717,364 by way of direct charitable expenditure, £218,402 by way of governance costs and £24,440 on fundraising. An analysis of the resources expended is provided in notes 7 and 8, together with the Appendix on pages 37-38 of the financial statements.

Gains on revaluation of the investment portfolio at the year end amounted to £52,011. The resulting net surplus for the year was £495,798 (2020: £9,810), which comprised of a net increase on the endowment fund of £39,065, a net decrease on the restricted funds of £165,647 and a net increase on the unrestricted funds of £622,380.

The balance sheet set out on page 14 of the financial statements shows the financial position of Maccabi GB at 31 December 2021.

After deducting the charge for depreciation, the net book value of fixed assets was £2,068 ,812.

Fixed asset investments of £543,598 is the market value of the investment portfolio at the balance sheet date, which is held as part of the endowment fund.

Page 5

MACCABI GB

(A company limited by guarantee)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Current assets are represented by debtors of £2,151,494 and cash at bank and in hand of £989,497.

Total assets less total liabilities amounted to £2,901,023 (2020: £2,405,225) which is represented by the closing balances on the restricted funds of £360,377, endowment fund of £446,190 and general unrestricted funds of £2,094,456 (comprising designated funds of £2,042,588 and general funds of £51,868.)

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.

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 free reserves stood at £25,633. 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.

Page 6

MACCABI GB

(A company limited by guarantee)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

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 the 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 remuneration committee who then approves the remuneration.

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.

Page 7

----- Start of picture text -----
MACCABI GB
----- End of picture text -----

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

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 Trustees on Sep 28, 2022 and signed on their behalf by:

Levey _

Jonathan Prevezer

Michael Ziff

Page 8

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 2021 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 lreland' (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 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

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 statements 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.

Page 9

MACCABI GB

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MACCABI GB (CONTINUED)

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditors’ report thereon. The Trustees are responsible for the other information contained within the annual report. 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 this gives rise to a material misstatement in the financial statements themselves. 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:

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:

Page 10

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 11

----- Start of picture text -----
MACCABI GB
----- End of picture text -----

(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: Aq Seplonb-e 2022

Page 12

MACCABI GB

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted Designated Restricted Endowment Total Total
funds funds funds funds funds funds
2021 2021 2021 2021 2021 2020
Note £ £ £ £ £ £
Income and endowments
from:
Donations and legacies 3 367,377 - 601,374 - 968,751 718,519
Charitable activities 4 171,003 - 252,662 - 423,665 284,007
Investments 5 11,577 - - - 11,577 11,606
Other income 6 - - - - - 60,137
Total income and
endowments 549,957 - 854 036 - 1,403,993 1,074,269
Expenditure on:
Raising funds 7 20,148 - 650 3,642 24,440 14,269
Charitable activities 8 573,642 - 362,124 - 935.766 1,069,719
Total expenditure
593,790 - 362,774 3,642 960,206 1,084,348
Net (expenditure) /
income before net
gains on investments (43,833) - 491,262 (3,642) 443,787 (10,079)
Net gains on investments - - 9,304 42.707 52,011 19,889
Net income/
(expenditure) (43,833) - 500,566 39,065 495,798 9,810
Transfers between Funds 18 58,282 607,931 (666,213) - - -
Netmovement in funds 14,449 607,931 (165,647) 39,065 495,798 9,810
Reconciliation of funds:
Total funds brought forward 37,419 1,434,657 526 024 407,125 2,405,225 2,395,415
Total funds carried
forward 51,868 _2,042,588 _360.377 ___446,190 _2,901,023 2,405,225

The notes on pages 17 to 36 form part of these financial statements.

Page 13

MACCABI GB

(A company limited by guarantee) REGISTERED NUMBER: 04759599

BALANCE SHEET AS AT 31 DECEMBER 2021

2021 2020
Note £ £
Fixed assets
Tangible assets 12 2,068,812 1,468,350
Investments 13 543,598 495,876
2,612,410 1,964,226
Current assets
Debtors 14 2,151,494 132,441
Cash at bank and in hand 989,497 476,933
3,140,991 609,374
Creditors: amounts falling due within one
year 15 (2,627,378) (168,375)
Net current assets 513,613 440,999
Creditors: amounts falling due after more
than one year 16 (225,000) -
Total net assets 2,901,023 2,405,225
Charity funds
Endowment funds 18 446,190 407,125
Restricted funds 18 360,377 526,024
Unrestricted funds
Designated funds 18 2,042,588 1,434,657
General funds 18 51,868 37,419
Unrestricted funds 18 2,094,456 1,472,076
Totalfunds 2,901,023 2,405,225

Page 14

MACCABI GB

(A company limited by guarantee) REGISTERED NUMBER: 04759599

BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2021

The financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the Trustees on Z8 /o4 | 2022 and signed on their behalf by:

Jonathan Prevezer

Marc Levy

The notes on pages 17 to 36 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 2021

----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |2021|2020| |£|£| |Cash|flows|from|operating|activities| |Net|cash|used|in|operating|activities|1,105,012|(90,235)| |Cash|flows|from|investing|activities| |Rental|income,|dividends|and|interest|from|investments|11,577|11,606| |Purchase|of|tangible|fixed|assets|(604,025)|(30,131)| |Net|cash|used|in|investing|activities|(592,448)|(18,525)| |Change|in|cash|and|cash|equivalents|in|the|year|512,564|(108,760)| |Cash|and|cash|equivalents|at|the|beginning|of the|year|476,933|585,693| |Cash|and|cash|equivalents|at|the|end|of the|year|989,497|476,933| |The|notes|on|pages|17|to|36|form|part|of these|financial|statements|

----- End of picture text -----

Page 16

MACCABI GB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. General information

Maccabi GB is a charitable company limited by guarantee, incorporated in England and Wales. The address of its registered office is The Stanley S. Cohen OBE Centre, Shaftesbury Avenue, Kenton, Harrow, HA3 ORD. 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

The charity recorded a surplus of £495,798 during the year and as at the reporting date had net current assets of £513,613 with unrestricted free reserves carried forward of approximately £26k.

This is largely due to costs incurred on the building works and refurbishment of the new Kenton building to which the charity has now relocated and funding sources include grants and a significant loan from another charity which will, over time, convert to income. Since the year end the charity has received significant confirmed future pledges of income and these, together with future savings arising from occupation of our own building and a working surplus generated from the 2022 Maccabiah Games, will enable the charity to rebuild its free reserves.

The Trustees have reviewed the circumstances of the charity given the above and have prepared appropriate budgets and cash flow forecasts which indicate that cash resources will continue to be available to fund the activities of the charity for the next 12 months.

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 2021

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, whena 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

----- Start of picture text -----
MACCABI GB
----- End of picture text -----

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

2. Accounting policies (continued)

2.6 Subsidiary company and group accounting

The charity owns 100% of the issued share capital of the limited company, Maccabi GB (2021) Ltd. This company was incorporated on 10th May 2021 but did not start to trade for a few months. Its principal activity is to receive sponsorship income related to athletes participating in the Maccabiah Games in 2022. Due to this, the company's financial position at 31st December 2021 was immaterial (see note 13) and thus the Charity has opted not to consolidate the results into this financial year.

2.7 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

2.8 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.

Investments in subsidiaries are valued at cost less provision for impairment.

2.9 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.

2.10 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.

Page 19

MACCABI GB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

2. Accounting policies (continued)

2.11 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.

2.12 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.

2.13 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.

Page 20

MACCABI GB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

3. Income from donations and legacies

Restricted Unrestricted Total Total
funds funds funds funds
2021 2021 2021 2020
E £ £ £
Restricted donations
Maccabi GB National Football Committee 515 - 515 3,305
Maccabi GB Junior Football League 34,006 - 34,006 43,826
The Stanley Cohen Charitable Trust Kenton
building fund 250,000 - 250,000 -
International Games Fund 18,578 - 18,578 25,335
Yellow Candle donations 84,161 - 84,161 113,242
Total restricted donations 601,374 - 601,374 185,708
Donations 212,000 347,104 559,104 435,561
Legacies (212,000) - (212,000) -
Government grants - 20,273 20,273 97,250
Subtotal - 367,377 367,377 532,811
601,374 367,377 968,751 718,519
4. Income from charitable activities
Restricted Unrestricted Total Total
funds funds funds funds
2021 2021 2021 2020
£ £ £ £
Entry and participation fees - 171,003 171,003 31,162
Stand Up and Streetwise 252,662 - 252,662 252,845
252,662 171,003 423,665 284,007

Page 21

MACCABI GB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

5. Investment income

Interest and dividends receivable

Unrestricted Total Total
funds funds funds
2021 2021 2020
£ £ £
11,577 11,577 11,606

6. Other incoming resources

Foreign exchange gains

Unrestricted Total Total
funds funds funds
2021 2021 2020
£ £ £
- - 60,137

Page 22

(A company limited by guarantee)

MACCABI GB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

ts Expenditure on raising funds

Costs of raising voluntary income

Endowment Restricted Unrestricted Total Total
funds funds funds funds funds
2021 2021 2021 2021 2020
£ z. ca £ £
Management charges 3,642 650 - 4,292 3,761
Other fundraising expenses - - 20,148 20,148 10,868
3,642 650 20,148 24,440 14,629

8. Analysis of expenditure on charitable activities

Summary by fund type

Restricted Unrestricted Total Total
funds funds funds funds
2021 2021 2021 2020
£ £ £ £
Events - 231,357 231,357 172,865
Sports & Youth Development 38,329 66,588 104,917 126,579
Tours & Projects 323,795 51,321 375,116 412,300
JCC Games - 5,974 5,974 11,999
Governance costs - 218,402 218,402 345,976
362,124 573,642 935,766 1,069,719

Page 23

(A company limited by guarantee)

----- Start of picture text -----
MACCABI GB
----- End of picture text -----

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

9. Auditor's remuneration

2021 2020
£ £
Fees payable to the charity's auditor for the audit ofthe charity's annual
accounts 6,240 6,240
Fees payable to the charity's auditor in respect of:
Allnon-auditservicesnotincludedabove 4,800 4,800

10. Staff costs

The average number of persons employed by the charity during the year was as follows:

2021 2020
No. No.
MGB Central 3 5
Major Events 3 4
Sport and youth development 10 11
16 20

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2021 2020
No. No.
In the band £60,001 - £70,000 - 1
In the band £70,001 - £80,000 1 -
In the band £100,001-£110,000 - 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 £243,087 (2020: £239,041)

11. Trustees' remuneration and expenses

During the year, the Trustees did not receive any remuneration or other benefits (2020 - ENIL).

During the year ended 31 December 2021, the Trustees were not reimbursed for any expenses incurred (2020 - NIL).

Page 24

MACCABI GB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

12. Tangible fixed assets

Freehold Fixtures and
property fittings Total
£ 3 £
Cost or valuation
At 1 January 2021 1,464,788 47,881 1,512,669
Additions 577,800 26,225 604,025
At 31 December 2021 2,042,588 74,106 2,116,694
Depreciation
At 1 January 2021 - 44,319 44,319
Charge for the year - 3,563 3,563
At 31 December 2021 - 47,882 47,882
Net book value
At 31 December 2021 2,042,588 26,224 2,068,812
At31December2020 1,464,788 3,562 1,468,350

Page 25

MACCABI GB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

13. Fixed asset investments

Investments
in subsidiary Listed
companies investments Total
£ £ a
Cost or valuation
At 1 January 2021 - 495,876 495,876
Additions 1 220,473 220,474
Disposals - (240,164) (240,164)
Revaluations - 52,012 52,012
Foreign exchange movement - 15,400 15,400
At 31 December 2021 1 543,597 543,598
Net book value
At 31 December 2021 1 543,597 543,598
At31December2020 - 495,876 495,876

Page 26

MACCABI GB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

13. Fixed asset investments (continued)

Principal subsidiaries

The following was a subsidiary undertaking of the charity:

Name Company Registered office or principal Principal activity number place of business Maccabi GB (2021) Ltd 13384201 The Stanley S. Cohen OBE Receipt of Centre Shaftesbury Avenue, sponsorship income Kenton, Harrow, HA3 ORD Class of | Holding shares Ordinary 100%

The financial results of the subsidiary for the year were:

----- Start of picture text -----
Name Expenditure —_ Profit/(Loss) Net assets
£ for the period £
a
Maccabi GB (2021) Ltd 61 (61) (61)
14. Debtors
2021 2020
£ £
Due after more than one year
Other debtors 225,000 -
225,000 -
Due within one year
Other debtors 25,000 -
Prepayments and accrued income 1,901,494 132,441
2,151,494 132,441
----- End of picture text -----

Page 27

----- Start of picture text -----
MACCABI GB
----- End of picture text -----

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

15. Creditors: Amounts falling due within one year

2021 2020
£ E
Other loans (see below) 25,000 -
Trade creditors 15,917 6,919
Other taxation and social security 13,551 18,298
Other creditors 15,163 15,338
Accruals and deferred income 2,557,747 127,820
2,627,378 168,375

16. Creditors: Amounts falling due after more than one year

Other loans

2021 2020
£ £
225,000 -

Included in other creditors is a loan of £250,000 from the Stanley S Cohen Charitable Settlement. This is repayable via annual instalments of £25,000 and is secured on the charity's freehold property.

17. Financial instruments

2021 2020
£ £
Financial assets
Financial assetsmeasuredatfairvaluethroughincomeandexpenditure 543,597 495,876

Financial assets measured at fair value through income and expenditure comprise of fixed asset investments.

Page 28

MACCABI GB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

18. Statement of funds

Statement of funds - current year

Balance at
Balance at 1 31
January
2021
£		 Income
ra		 Expenditure
£		 Transfers
in/out
£		 Gains/
(Losses)
£		 December
2021
a
Unrestricted
funds
Designated funds
Kenton 1,434,657 - - 607,931 - 2,042,588
General funds
General Funds 37,419 549,957 (593,790) 58,282 - 51,868
Total Unrestricted
funds 1,472,076 549,957 (593,790) 666,213 - 2,094,456
Endowment fund
Maccabi GB
Endowment Fund 407,125 - (3,642) - 42,707 446,190
Restricted funds
Leadership and
Streetwise Projects - 96,774 (96,774) - - -
International Events
Advance Funds 29,965 - - - - 29,965
Maccabi Foundation 187,214 - (650) (91,200) 9,304 104,668
Pierre Gildesgame
Fund 98,896 - - (85,000) - 13,896
Elliott Simmons
Challenge Fund 55,190 - - - - 55,190
Maccabi GB National
Football Committee 10,269 515 (70) - - 10,714
Maccabi GB Junior
Football League 26,649 34,006 (37,371) - - 23,284
International Games
Fund 102,856 18,578 - - - 121,434
Stand Up! Reserve
Fund 9,360 155,888 (137,235) (28,013) - -
YellowCandleFund 5,625 84,161 (89,786) - - -

Page 29

MACCABI GB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

18. Statement of funds (continued)

Statement of funds - current year (continued)

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Balance|at| |Balance|at|1|31| |January|Transfers|Gains/|December| |2021|Income|Expenditure|in/out|(Losses)|2021| |£|£|£|£|£|£| |Kenton| |Refurbishment|Fund|-|212,000|-|(212,000)|-|-| |Maccabi|GB|Golf| |Fund|-|2,114|(888)|-|-|1,226| |The|Stanley|Cohen| |Charitable|Trust| |Kenton|building|fund|-|250,000|-|(250,000)|-|-| |526,024|854,036|(362,774)|(666,213)|9,304|360,377| |Total|of funds|2,405,225|1,403,993|(960,206)|-|52,011|2,901,023|

----- End of picture text -----

Page 30

MACCABI GB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

18. Statement of funds (continued)

Statement of funds - prior year

Balance at
Balance at 31
1 January
2020		 Income Expenditure Transfers
in/out		 Gains/
(Losses)		 December
2020
£ £ £ £ a £
Unrestricted funds
Designated funds
Kenton 1,434,657 - - - - 1,434,657
ee
General funds
General Funds 8,617 635,716 (729,781) 122,867 - 37,419
Total Unrestricted
funds 1,443,274 635,716 (729,781) 122,867 - 1,472,076
Endowment fund
Maccabi GB
Endowment Fund 395,706 - (2,663) - 14,082 407,125
Restricted funds
Leadership and
Streetwise Projects - 112,345 (112,345) - - -
International
Events Advance
Funds 29,965 - - - - 29,965
Maccabi
Foundation 273,705 - (1,098) (91,200) 5,807 187,214
Pierre Gildesgame
Fund 98,896 - - - - 98,896
Elliott Simmons
Challenge Fund 55,190 - - - - 55,190
Maccabi GB
National Football
Committee 10,038 3,305 (3,074) - - 10,269
Maccabi GB Junior
Football League - 43,826 (17,177) - - 26,649
International
Games Fund 77,521 25,335 - - - 102,856
Stand Up! Reserve
Fund 11,120 140,500 (110,593) (31,667) - 9,360
Page31

MACCABI GB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

18. Statement of funds (continued)

Statement of funds - prior year (continued)

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Balance|at| |Balance|at|31| |1|January|Transfers|Gains/|December| |2020|Income|Expenditure|in/out|(Losses)|2020| |£|E|£|£|£|£| |Yellow|Candle| |Fund|-|113,242|(107,617)|-|-|5,625| |556,435|438,553|(351,904)|(122,867)|5,807|526,024| |Total|of funds|2,395,415|1,074,269|(1,084,348)|-|19,889|2,405,225|

----- End of picture text -----

The Kenton fund relates to the book value of the charity's freehold property.

The Kenton Property Refurbishment Fund relates to the redevelopment of the building donated in December 2017 by Kenton Youth Aid Trust, which is now the location of Maccabi GB's offices. The Stanley Cohen Charitable Trust Kenton building fund relates to the redevelopment of the building donated by the The Stanley Cohen Charitable Trust.

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 committed to and has 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. £85k has been transferred to the building designated fund, as agreed by the fund and will be rebuilt by annual transfers from general reserves of £1,000 per month.

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.

The Maccabi GB Golf Fund is for related sporting events.

Page 32

MACCABI GB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

19. Summary of funds

Summary of funds - current year

Balance at
Balance at 1 31
January
2021		 Income Expenditure Transfers
in/out		 Gains/
(Losses)		 December
2021
£ £ £ £ £ £
Designated
funds 1,434,657 - - 607,931 - 2,042,588
General funds 37,419 549,957 (593,790) 58,282 - 51,868
Endowment
funds 407,125 - (3,642) - 42,707 446,190
Restricted funds 526,024 854,036 (362,774) (666,213) 9,304 360,377
2,405,225 1,403,993 (960,206) - 52,011 2,901,023
Summary offunds - prior year
Balance at
Balance at 31
1 January
2020		 Income Expenditure Transfers
in/out		 Gains/
(Losses)		 December
2020
E £ £ a £ £
Designated
funds 1,434,657 - - - - 1,434,657
General funds 8,617 635,716 (729,781) 122,867 - 37,419
Endowment
funds 395,706 - (2,663) - 14,082 407,125
Restricted funds 556,435 438,553 (351,904) (122,867) 5,807 526,024
2,395,415 1,074,269 (1,084,348) - 19,889 2,405,225

Page 33

(A company limited by guarantee)

MACCABI GB

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

20. Analysis of net assets between funds

Analysis of net assets between funds - current year

Endowment Restricted Unrestricted Total
funds funds funds funds
2021 2021 2021 2021
£ E £ E,
Tangible fixed assets - - 2,068,812 2,068,812
Fixed asset investments 446,190 97,407 1 543,598
Debtors due after more than one year - 225,000 - 225,000
Current assets - 287,970 2,628,021 2,915,991
Creditors due within one year - (25,000) (2,602,378) (2,627,378)
Creditors due in more than one year - (225,000) - (225,000)
Total 446,190 360,377 2,094,456 2,901,023
Analysis of net assets between funds- prioryear
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

Page 34

MACCABI GB

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

21. Reconciliation of net movement in funds to net cash flow from operating activities

----- Start of picture text -----
|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |2021|2020| |£|EF| |Net|income|for|the|year|(as|per|Statement|of|Financial|Activities)|495,798|9,810| |Adjustments|for:| |Depreciation|charges|3,563|3,563| |(Gain)|on|investments|(52,011)|(19,889)| |Rental|income,|dividends|and|interest|from|investments|(11,577)|(11,606)| |Other|movements|in|investments|4,291|3,761| |(Increase)/decrease|in|debtors|(2,014,103)|70,894| |Increase/(decrease)|in|creditors|2,679,051|(146,768)| |Net|cash|provided|by/(used|in)|operating|activities|1,105,012|(90,235)|

----- End of picture text -----

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |22.|Analysis|of cash|and|cash|equivalents| |2021|2020| |£|£| |Cash|in|hand|989,497|476,933| |Total|cash|and|cash|equivalents|989,497|476,933| |23.|Analysis|of changes|in|net|debt|

----- End of picture text -----

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |At|31| |At1|January|December| |2021|Cash|flows|2021| |£|£|£| |Cash|at|bank|and|in|hand|476,933|512,564|989,497| |Debt|due|within|1|year|-|(25,000)|(25,000)| |Debt|due|after|1|year|-|(225,000)|(225,000)|

----- End of picture text -----

Page 35

MACCABI GB (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

24. 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 and have spent significant sums to renovate it as per note 12. The charity moved into the premises in 2022 and made it their head office.

25. Operating lease commitments

At 31 December 2021 the charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

2021 2020
£ £
Not later than 1 year 6,570 26,280
Laterthan 1 year and not later than 5 years - 78,840
6,570 105,120

The charity agreed to cancel its lease from the March 2022 quarter date in preparation for moving into their new offices at Kenton. In addition to the rent payments referred to above, the charity agreed with their landlords to pay dilapidation costs of £20,000.

26. Related party transactions

During the year, donations received without conditions from trustees or related parties, amounted to £56,738 (2020: £51,405).

During the year, remuneration totalling £28,325 (2020: £67,611) was paid to an employee who is connected to a Trustee.

Page 36

nw
i)
°
=
N
SALW
oe
Fee
7)		 DOMANTORYHK AMOHDDOORDDM
SOIMRBOTTONH TE TT OAVSMOSYTO
SIORORDN
KE TODNANKRHWORRHNY
wnunotrrod
Nov~onnonw 6
=
oe)
Wor
eo
—
=o
+		 fe)
KR
IN
=
bs		 fey)
©
WM
o
i)
v		 C)
st
[3
Ist
oo)
=.
=
NOOCOOMNDONYTOMRDOrOD
ore
se)
=
QHETRBQO DDH RD HOLTOAS
ze
Ke}
=
N
SAN
O ORM
BOM aoONnTN@®g
oO
Ym
SBaweunvrrso
-Or~vtyoovro
oe)
N
oe)
oO
Qa +
=
=		 fr)
oe)
Te
°
(eo)		 =
=
Oo
for)
fo)		 ©
°
If
[—)
@
i)
8
bo
o
c		 a DN DHLHOONTRROO- OO
~
o
VOLTROVeroyoreranaa
fon
=
T O
dgewnm FEOONen
oo 'orn
Aor
Nn wv
=
Too
°
=
&
a
=		 N
is)
w.
Ce)
-
N		 : nN
°
<i
Ce)
rc
N
o
>
°
o
n
o
i
é		 a TADLRXBL
02D
[re]
aww
co
oo
aon
- On
re)
Arn
6S
AN
bo ©
ut
Netw
Orr
is)		 t
~
a
Ww		 ‘ st
SN
@
wo
oO
Oo
”
wo
oS
93
52
a2
eo		 jw Onwrtonrt
oto
fe)
tao
fe)
ODNROOAR
Qonr
re)
5V8
gS
OWASs
OES
OA
''a@
A'
oe
oe
oo
rs)
=
for
-
=-		 lo
fo}
Ff
jw
se)		 =
x
8
oS
x		 ©
=
IS
[we
—
5
<=
Ss
2
> eo
3 &
a.
#2o
o>		 is OnNnnrtronr
oN LD
re)
NNO
fer)
-OROAAR
Son
N
©
re)
gS
SO eer A=
SMe
or
' ©
NTO
Sy or
om
=
5 &		 Nt
=
JO
(sp)
©		 °
So
OO
+		 é
=
[Re
st
P=)
i
20
na
g
c		 =r ONonne
oth
st
ow
xt
Onndnnyr ©
F2
wo
=A
“9
ASE NN OY
=e &N
erry
OT
we?
bai oad
bal
vw
q
=		 =
©
re)
©
SO
S
ise)
oOo
oD
ne]		 NS
Ip
fe
=
 e
g
o>
uu
° °
> cP
=
2
&		 q x
N		 x
N
Ss
[=I
3
iL
an
ER
°
Wen		 =
5 2
og
‘O
«2
oO wo		 no
Ww
Cc
oon vn oan
oo o
o
oo 5060
wtf eeeed
EE
—E
Esse
ES ESSES gre K gage ger FES <
&®oeoacgogs
ceo
bes
e&eess
SSSsssseHseHSHgH
SEssesgs
ALERtCEPTeDHAHNT DIDO DIIOFPFEEH
= x
WwW iy
Ee
Es\
wn Wi\
39\
aan\
oO\
%\
Z°\
Zu\
“oO\
wz\
Ww\
[a\
moc\
Fw\
©\
x >
os w
a
az
Or
225
2a		 o
Fe}
=
3
<
o
a
x
wi
=
8
EF		 7
9
=
2
2
=
()
5
2
¢
B
=
&
°
ra
bo]
c
2
‘=
cz ®
n
oF =
2
o
[=
o@sé
st
n
(a)
“
2QEs
=
ry
oP Gg
= 6
On
>
c
oa v
c
«a
e628
<
fs)
5
aaa
3S
2SoOrL2S. gta
¢
Syke
iS
2erfeVorgga
os
acuc &
©
4
orfusec OY
ec
= S6
oO
5
OVE
HgaHSERPLES__GSHFSH. GD
=
=
~
a
SeseeSsSessssaseeceses
o
2
3
es
H®rwmooofsaroq¢aGrnanmodoa		 no
®
2
=
€
©
°
=
3
i
8
2
=
=
o
a)
=
ne)
2
2
fe)
ce
i
2
o
Ee

co roa)

WNoaowrrinaodonadngoonrwtrixz oa S Onmnoonawnonwdcnmonrterwzak - = © wM WTNONMTMTANNHMOTOOS oo wo wo N orOonnenm+ md wo wero OoNON= N ©o eea N - vt o i bal WO ' WMWUNONWD ' O' ' ere Oorwon La a fee) Ses [ce] RBRonrnm ow = we N 2™ GNXOANoOvront ANNO ledQOHoO jooa = o Pn fa) Cc iss] 5 >6 oO 8 C2 ' E G oO [s) ts) a} & 2 ne | nN oe© ee oe = 23 os KRo fo)o o|¢ ox Fo Se [1 8 § v8o o © =aes ~E€E 8 F £o So 7) fa) ¥ Wott treme© ree te te te et tt tt Ley© c bac 2 0 69 ro) a o oa >P aera steer eee ees Oo BD_Yr6 oot8&8=bs=N . 5 i =5 os a 8 SHH RE He HER HR He -_— oOo Oo 0 OO OO OOO OO OO 8 Oo 32 fgeeeeeeeeeeeerees a a qaAaaagaAaAanpRAAAAAaAgAAAaAAgAAaASGA 2 = 2s un ) =v 2 B i = fs 3wn 23 oezu68=Z3A @2S n§5 2FZS 2 8babid° go2a 2° goCia=~ct =aooc < r]° “a 8 85 #82 28 2 wz 6 Se aon] a0 © i rs} ee WwW o o oO > z= fo} o Vw O-.—~ 2 ®& =o oO =) a o¢[ed =2o BepPoirigcge,ee@s2aangoke€?5,0u5at$FS5p oo aD QAeoZz5oo2qa038§o kLlir2 3o3Pq texa5 w SPsVESssas Qa we OeceESO0038 FF Om rF SEEatreneEvoseEB 2SEaRsean BOselCaaasggae 28 Caw pm®eagsgessSoHn £23388 6 fao So GSS O ESS SSH STSESSE BF Stu O¢SSETHn#nmwsnuSt>rstsE0 F&F

2022-09-28

(

|

:

|

:

Final Audit Report

Created: 2022-09-28 By: Daniel Morris (danielmorris@maccabigb.org) Status: Signed Transaction ID: CBJCHBCAABAAHYR3ZYGrDyZpkVe7CmSNxGTsnXU7IU_T

:

" Maccabi: GB - 31.12.21 - accounts with= appendices"‘ "t History‘

*) Document created by Daniel Morris (danielmorris@maccabigb.org)

  - 2022-09-28 - 11:47:08 AM GMT- IP address: 81.150.122.169

t 

  - Signature Date: 2022-09-28 - 12:30:23 PM GMT - Time Source: server- IP address: 109.153.109.56

:

:

Adobe Acrobat Sign

2022-09-28 - 4:52:29 PM GMT- IP address: 66.249.89.103

2022-09-28 - 5:31:14 PM GMT- IP address: 148.252.132.79

© Document e-signed by Michael Ziff (michaelziff@gmail.com)

Signature Date: 2022-09-28 - 5:31:15 PM GMT - Time Source: server- IP address: 148.252.132.79

© Agreement completed.

2022-09-28 - 5:31:15 PM GMT

Adobe Acrobat Sign