Charity number: 1137199 MIZRACHI (UK) ISRAEL SUPPORT TRUST UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
MIZRACHI IUK) ISRAEL SUPPORT TRUST CONTENTS Page Reference and Administrative Details of the Charity. its Trustees and Advisers Trustees. Report Independent Examiner's Report statement of Financial Activities Balanco Sheot Statement of Cash Flows Notes to the Flnanclal Ststements 9-22
MIZRACHI IUK) ISRAEL SUPPORT TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021 Trustees D D Morris S Blumgart G Kurland S Rubin (Resigned 1 February 20221 M Fruhman S Melnick M 88uernfreund A Pfeffer (Resigned 1 February 20221 A Harris (Appointed 1 October 20211 Charlty reglstered number 1137199 Reglstered address 2 Hallswelle Road London NW11 ODJ Principal operatlng office 44a Albert Road London NW4 2SJ Chlef executlve offlcer Rabbi A Shaw Accountants BKL Audit LLP Chartered Accountants 35 Ballards Lane London N3 1XW Page 1
MIZRACHI IUK) ISRAEL SUPPORT TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The Trustees present their annual report together with the financial statements of the charity for the 1 January 2021 to 31 December 2021. Objectives and activities a. Polieies and objectives The objectives of the charity are lo further promote the work of Mizr8chi by working in schools, communities and Campus lo Stngthen the Jewish community's connection to Modern Orthodoxy and a strong connection to the Stale of Israel. 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 8 charity IPB21'. Aehievements and performance a. Review of activities During this post pandemic period Mizrachi UK continued to work with communities, partner organisations and schools through the Leadership Programmes IMizr8chi Fellowship and Shlichiml as well as through a variety of Community Engagement Programmes IProgrammes in Partnership, Weekend of Inspiffttion and Bespoke Programming). A new initiative called Yehudi, is the latest programme to be launched that promotes positive Jewish eXperienS that nourishes young people's ment81 health through". mentoring activities that reduces isolation through activities and weekends away reducing isolation by affording opportunities lo meet with likeminded peers and seniors increasing self confidence by being able to receive reassurances from someone they admire having hope for the future by feeling that their Involvement has meaning and a direct impact on the people around them Yehudi has positively impacted 790 young people by working with 660 Year 6 children in 15 schools, 106 Year 12 volunteers Imadrichiml and 24 Mentors and Leadership Team, all within the ideological framework of Mizrachi UK. Financial review . Going concem After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue In operational existence for the foreseeable fvjture. For this reason, they continue lo adopt the going concern basis in preparing the financial stalemenls. Further details regarding the adoption of the going COnM basis can be found in the accounting policies. b. Roserves policy The reserves policy of the charity requires a three month reserve. Therefore as at 31 December 2021 the charity had sufficient fvnds to satisfy this policy and tehir going COnM status. Page 2
MIZRACHI IUK) ISRAEL SUPPORT TRUST TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2021 c. Financial position at the year end During the year, the charity received donations and other income of £922,48612020 - £777,597). Expenditure in the year tolalled £721,565 12020 £777,335) leaving an in year surplus of £200,921 12020 - £2621. Reserves at the year end stood at a surplus of £201,24212020 - £3211. As detailed above, the trustees aim to improve the financial standing of the charity. Structure, govemance and management a. Constitution The charity is a charitable tnjsl formed under a trust deed dated 5th February 2010. It is registered with the Charity Commission of Eng18nd and Wales, Charity Number 1137199. b. Methods of appointment or election of Trustees The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. c. Polieies adopted for the induction and training of Trustees New trustees are given training based on an audit of skills that they possess on appointment and roles that they 18ke on appointment. Plans for future periods Mizrachi UK is 8clively fundraising to support the two aaS of Leadership and Community Engagement and to grow the newly launched Yehudi Programme. Page 3
MIZRACHI IUK) ISRAEL SUPPORT TRUST TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2021 Statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, Report and the financi81 statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the slate of affairs of the charity and of ils 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 IFRS 1021", make judgments and accounting estimates that are reasonable and prudent", stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial stalemenls., 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 lo show and explain the charity's transactions and disclose with reasonable accuracy al any lime the financial position of the charity and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. S Blumgart Trustee Dale.. 3111012022 Page 4
MIZRACHI IUK) ISRAEL SUPPORT TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Independent Examinerfs Report to the Trustees of Mizrachi IUKI Israel Support Trust I'the charity'l I report lo the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2021. Responsibilities and Basis of Report As the Trustees of the charity you are responsible for the preparation of the accounts in 8ecord8nce with the requirements of the Charities Act 2011 I'the 2011 ACVI. I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examiner's Statement Since the charity's gross income exceeded £250,000 your examiner must be a member of 8 body listed in section 145 of the 2011 Act. l confirm that l am qualified lo undertake the examination because l am a member of the Institute of Chartered Accounlanls in England and Wales., which is one of the listed bodies. Your allenlion is drawn lo the fact that the charity has prepared the accounts in accordan with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the exlanl regulations bul has been withdrawn. l understand that this has been done in order for the accounts lo provide a true and fair view in aceordanee with the Generally Aecepled Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no mallers have come lo my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act," or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements conceming the form and conlenl of accounts set out in the Charities (Accounts and Reports) Regu18tions 2008 other than any requirement that the accounts give a 'true and f81¢ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale lo the charity's Trustees those mallers l am required lo slate to them in an Independent Examiner's Report and for no other purpose. To the fullest exlenl permitted by law, I do not a¢p1 or assume responsibility lo anyone other than the charity and the charity's Trustees as a body, for my work or for this report. Signed.. Dated.. 3111012022 lan Saunderson FCA BKL Audit LLP Chartered Accountants London Page 5
MIZRACHI IUK) ISRAEL SUPPORT TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021 Unrestricted funds 2021 Restricted funds 2021 Total funds 2021 Total funds 2020 Note Income from: Donations and legacies Charitable activities Other trading activities 704,581 160,845 27,713 29,347 733,928 160,845 27,713 566.969 184,416 26,212 Total income 893,139 29,347 922,486 777,59T Expgnditure on: Charitable activities 692,804 29,961 722,765 777,335 Total expenditure 692,804 29,961 722,765 177,335 Net movement in funds 200,335 16141 199,721 262 Reconciliation of funds: Totsl funds brought forward as previously staled Prior year adjustment 110,0301 10,351 321 23,748 (23,689) Total funds brought forward as restsled Nel movement in funds 110.0301 200,335 10,351 16141 321 199,721 59 262 Total funds carried forward 190,305 9,737 200,042 321 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 9 10 22 form part of these financial slalemenls. Page 6
MIZRACHI IUK) ISRAEL SUPPORT TRUST BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Note Fixed assets Tangible assets 10 501 501 Current assets Debtors Cash al bank and in hand 148,257 203.008 61,404 45,344 351,265 106, 748 Creditors.. amounts falling due within one year 12 1116,387) (62,444) Net current assets 234.878 44,304 Total assets less current liabilities 234,878 44,805 Creditors.. amounts falling due after more than one year 34,8361 (44,484) Total net assets 200,042 321 Charity fund$ Reslricled funds Unrestricted funds 14 14 9.737 190,305 70,351 (10,030) Total funds 200,042 321 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. S Blumgart Trustee Dale.. 3111012022 The notes on pages 9 10 22 form part of these financial slatemenls. Page 7
MIZRACHI IUK) ISRAEL SUPPORT TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 Cash flows from operatlng actlvltles Nel cash used in operating activities 83.181 (41,664) Cash flovts from financing activities Cash inflows from new borrowing Repayments of borrowing 80.000 5,517) 50,000 Net cash provided by financing activities 74,483 50,000 Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 157.664 8,336 45,344 37,008 Cash and cash equivalents at the end of the year 203,008 45,344 The notes on pages 9 10 22 form part of these financial statements Page 8
MIZRACHI IUK) ISRAEL SUPPORT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting policies 1.1 Basis of preparation of financial ststements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities". Slalement of Recommended Practice applicable lo charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 JanLJary 20151, the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has inVoed following the Charities SORP IFRS 1021 published on 16 July 2014 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has Sin been withdrawn. Mizrachi IUKI Israel Support Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are Inilialty rec(4nised at historical cost or transaction value unless otherwise stated in the relevant accounb.ng policy. 1.2 Going concern Al the balance sheet dale of the charity, its nel fLJnds did not cover its committed expenditure for the first 3 months of 2021. However, the Trustees have prepared the accounts on a going concern basis, dLJe to a commitment from the Trustees to support the charity. The Trustees consider that based on the circumstances existing at the dale of signature, the impact of the Coronavirus outbreak will not effect the ability of the charity to continue as a going concern. As such, the trustees consider that the charity is able to continue its activities for a period of at least twelve months from the dale of signature of these accounts and the accounts have therefore been prepared on a going concem basis. 1.3 Income All income is recognised On the charity has entitlement lo the income, it is probable that the income will be received and the amoLJnt of income receivable can be measured reliably. Income lax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation. Page 9
MIZRACHI IUK) ISRAEL SUPPORT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting policies Icontinuedl 1.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in selllemenl and the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not allributable lo a single activity are apportioned belMeen those activities on a basis consislenl with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on diredy undertaking the activities which further the charity's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been mel at the year end are noted as a commitment, bul not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 1.5 Coronavirus Job Retention Scheme income and expenditure Furlough income is re1vable as compensation for salary expenses already incurred and lo give immediate financial support to the Company with no future related costs. This income is recognised in the Slalement of Income and Retained Earnings in the same period as the related expenditure. 1.6 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 1.7 Tangible fixed assets and depreciation Tangible fixed assets costing £NIL or more are capilalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives, Depreciation is provided on the following bases.. Fixtures and fillings Computer equipment 33D/o straight line 33Q/o straight line Page 10
MIZRACHI IUK) ISRAEL SUPPORT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting policies Icontinuedl 1.8 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 1.9 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 dale of acquisition or opening of the deposit or similar account. 1.10 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balan Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in selllemenl, and the amount of the selllemenl can be eslimaled reliably. Liabilities are recognised al the amount that the charity anlicipales it will pay lo settle the debt or the amount il has reiVed as advanced payments for the goods or services it musl provide. Provisions are measured at the best estimate of the amounts required lo sellle the obligation. Where the effect of the lime value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rale 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. 1.11 Fund accounting General funds are unreslricled 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. Restricted funds are fvnds which are to be used in accordan with specific reslriclions 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 lo the financial statements. Page11
MIZRACHI IUK) ISRAEL SUPPORT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Income from donations and legacies Unrestricted Restricted funds funds 2021 2021 Total funds 2021 Total funds 2020 Donations Grants Government grants 704,581 704.581 29,347 369, 773 175, 760 21,436 29,347 704,581 29,347 733.928 566,969 Tol812020 416,209 150, 760 566.969 Income from government grants all related lo the Coronavirus Job Retention Scheme. Income from charitable activities Unrestricted funds 2021 Total funds 2021 Total funds 2020 Events 9,874 148,469 5,529 2,886 17,658 Teaching Educational Programme Book sales 115,379 37,351 2,581 5,534 115,379 37.351 2.581 5,534 Magazine income Total 2021 160,845 160.845 184,416 Total 2020 184,416 184,416 Page 12
MIZRACHI IUK) ISRAEL SUPPORT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Income from other trading activities Income from fundraising events Unrestricted funds 2021 Total funds 2021 Total funds 2020 Fundraising income 27,713 27,713 26,212 Total 2020 26,212 26,212 Anatysis of grants Grants to Grants to Institutions Individuals 2021 2021 Total funds 2021 Total funds 2020 Israel scholarships 27,051 117,299 144.350 155,699 Total 2020 70,054 85.645 755.699 Main recipients of institutional grants 2021 2020 Mizrachi Olami 25.851 1,200 68,854 1,200 Mizrachi IUKI 27,051 70,054 Page 13
MIZRACHI IUK) ISRAEL SUPPORT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Analysis of expenditure on charitable activities Unrestricted Restricted funds funds 2021 2021 Total funds 2021 Total funds 2020 Support costs Direct costs Grants 192,434 381,871 118,499 192.434 385,981 144,350 237,280 384,356 155.899 4,110 25,851 692,804 29,961 722,765 777,335 Total 2020 636.926 140,409 77T,335 Analysls of dlrect costs 2021 2020 Educational programme Events 24,232 16,159 38.117 4.110 19,248 258,732 25.383 26,007 25,221 22,591 16,642 Magazine expenses Speakers Trips Wages and salaries National Insurance 275,065 18,830 385.981 384,356 Page 14
MIZRACHI IUK) ISRAEL SUPPORT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Analysis of support costs 2021 2020 Rent IT costs Phone charges Bank charges General expenses Literature publishing and printing Travel Shaliach expenses Accounting fees Loan interest Postage Advertising Legal expenses Motor vehicle expenses Staff training Wages and salaries National insuran Pension cost Depreciation 18.720 11,683 2,339 108 21.779 69 78,679 20,252 4,519 65 22,266 417 16 36 63.390 5.093 695 236 140, 144 2,899 116 25.119 3.079 1,153 597 3,513 17.888 1.755 18,214 501 19.017 1,578 3,129 650 192,434 237.280 Independent examiner's remuneration 2021 2020 Fees payable to the charity's independent examiner for the independent examination of the Charity's annual accounts 2,500 2.640 Page 15
MIZRACHI IUK) ISRAEL SUPPORT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 staff costs 2021 2020 Wages and salaries Social security costs Contribution lo defined contribution pension schemes 276.620 27.138 18,214 294,082 20,408 3,129 321,972 317,619 The average number of persons employed by the charity during the year was as follows.. 2021 No. 2020 No. Employees 12 12 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. 2021 No. 2020 No. In the band £110,000 - £120,000 In the band £120,000 - £130,000 The lolal amount of employee remuneration benefits received by key management personnel was £179,91812020. £170,437). Trustees. remuneration and expenses During the year, no Trustees reiVed any remuneration or other benefits (2020- £NIL). During the year ended 31 December 2021, no Trustee expenses have been incurred (2020- £NIL). Page 16
MIZRACHI IUK) ISRAEL SUPPORT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 10. Tangible fixed assets Fixtures and fittings Computer equipment Total Cost or valuatlon At 1 January 2021 1,503 6,368 7,871 At 31 December 2021 1.503 6.368 7.871 Depreciation At 1 January 2021 Charge for the year 1.002 501 6.368 7,370 501 At 31 December 2021 1,503 6,368 7,871 Net book value At 31 December 2021 At 31 December 2020 501 501 11. Debtors 2021 2020 Due within one year Trade debtors 123.257 56,560 4,844 other debtors Prepayments and accrued income 25,000 148,257 61,404 Page 17
MIZRACHI IUK) ISRAEL SUPPORT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 12. Creditors: Amounts falling due within one year 2021 2020 Bank loans Trade creditors Other laxalion and social security Other creditors Accruals and deferred income 89.647 4.400 7,836 3,272 11.232 5,516 24,071 6, 732 19,414 6,711 116.387 62,444 13. Credltors: Amounts falllng due after more than one year 2021 2020 Bank loans 34.836 44,484 Page 18
MIZRACHI IUK) ISRAEL SUPPORT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 14. Statement of funds statement of funds - current year Balance at 31 December 2021 Balance at 1 January 2021 Income Expenditure Unrestricted funds General Funds - all funds {10.030} 893,139 1692.804} 190,305 Restrlcted funds Chidon Hatsnach Yeshiva & Seminary fundraising campaign Mizrachi Fellowship Programme 4.807 15,500 9,040 14.110) {25.851} 697 10.351 9,040 10.351 29.347 129,961} 9.737 Total of funds 321 922,486 1722.765} 200,042 Chidon Hatanach." The aim of Chidon HaTanach is to promote and lebrate Tanach study amongst Jewish youth lo both deepen Torah knowledge and strengthen Jewish identity. Yeshiva & Seminary fundraising campaign". The aim of the fundraising campaign was to assist Yeshivot and Seminaries in Israel offset the increased infraslruclure costs associated with operating their programs during the pandemic. These are the educational establishments where our Fellows study. The Mizrachi Fellowship Programmes creates the next generation of Modern Orthodox Religious Zionist Rabbis and Educators. They are funded through three to five years of study in Israel lo obtain the necessary qualifications with the expectation they return lo the UK live and work in our communities, partner organisalions and schools. Page 19
MIZRACHI IUK) ISRAEL SUPPORT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 14. Statement of funds (continued) statement of funds - prior year As restated Balance al l January 2020 Balance at 31 December 2020 Income Exp8nditure Unrestricted funds General Funds - all funds 59 626,837 f636,926J (70,030) Restrlcted funds Rabbinical Fellowship Programme Chidon Hatanach Yeshiva & Seminary fundraising campaign 55.540 16,015 79,205 (55,540) (16,015) {68,854J 10,351 150. 760 (140,409) 10.351 Total of funds 59 777,59T f777,335J 321 15. Analysls of net assets between funds Analysls of net assets between funds - current year Unrestrlcted Restrlcted funds funds 2021 2021 Total funds 2021 Current assets Creditors due within one year Creditors due in more than one year 341,528 1116,3871 134,8361 9,737 351,265 {116,3871 134.8361 Totsl 190,305 9,737 200,042 Page 20
MIZRACHI IUK) ISRAEL SUPPORT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 15. Analysis of net assets between funds {continuedl Analysis of net assets between funds - prior year Unrestricted funds 2020 R8Strict&d funds 2020 Total funds 2020 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 501 501 96,397 (62,444) (44,484) 10,351 106,748 (62,444) (44,484) Total (10,030) 10,351 321 16. Re¢on¢iliation of net movement in fvnds to net cash flow from operating activities 2021 2020 Nel income for the year las per Statement of Financial Acliviliesl 199.721 262 Adjustments for: Depreciation charges Increase in debtors Decrease in creditors 501 {86,853} 131,388) 650 (37,614) (4,962) Net cash provided byllused inl operating activities 81,981 (41,664) 17. Analysis of cash and cash equivalents 2021 2020 Cash in h8nd 203,008 45,344 Total cash and cash equivalents 203,008 45.344 Page 21
MIZRACHI IUK) ISRAEL SUPPORT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 18. Analysis of changes in net debt At1 January Operating 2021 cash flows Other non- At31 cash December changes 2021 New loans Cash al bank and in hand Debt due within 1 year Debt due after 1 year 45.344 15.5161 144,4841 157.664 203.008 189.6471 134,8361 184.1311 19. Related party transactions Included in other creditors is a balance of £1,201 {2020'. £17,539) owed to Rabbi Andrew Shaw, the Chief Executive Officer. During the year, donations tolalling £297,500 {2020.' £305,500) were received from the trustees and companies owned by the trustees. During the year, grants of £1,20012020'. £1,200) were made to Mizrachi IUKI, a Charitable Incorporated Organisation with common Iruslees. Included in bank loans is a balan of £80,00012020'. £Nill owed to a trust with common trustees. Page 22