Forum For Jewish Leadership Limited
(by guarantee)
Company number 07453042 Charity number 1139858
Trustees’ Report
And Financial Statements For the period ended 31 December 2022
Forum for Jewish Leadership Limited
| Contents | Page |
|---|---|
| Legal and administrative information | 1 |
| Trustees’ report | 2 - 5 |
| Independent examiner’s report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Statement of cash flows | 9 |
| Notes to the financial statements | 10 - 14 |
Page 1
Forum for Jewish Leadership Limited
Legal and administrative information
Directors / Trustees
Andrew Savage Rabbi Neil Schiff Mr Max Steinberg appointed 3 January 2022 Dr Asher Steene resigned 30 April 2022
Key management personnel
Ben Thwaites
Registered Office
379 Hendon Way London NW4 3LP
Details of Incorporation
The Company was incorporated on 26 November 2010 in England under company registration number 07453042, and was registered with the Charity Commission on 14 January 2011, governed by its memorandum and articles of association, charity number 1139858.
Reporting Accountants
Crowe U.K. LLP Aquis House 49-51 Blagrave Street Reading Berkshire RG1 1PL
Bankers
National Westminster Bank Plc 5 Central Circus Hendon Central London NW4 3LE
Page 2
Forum for Jewish Leadership Limited
Trustees’ Report for the year ended 31 December 2022
The Trustees, who are also directors of the Charity for the purposes of the Companies Act, submit their report and the financial statements of Forum for Jewish Leadership Ltd (the Company) for the year ended 31 December 2022. The Trustees confirm that the annual report and financial statements of the Company comply with current statutory requirements, the requirements of the Company’s governing document and the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in 2015.
Legal and administrative information set out on page 1 forms part of this report.
Structure, Governance and Finance
The Company was incorporated on 26 November 2010 as a company limited by guarantee and registered as a charitable company on 14 January 2011. Its objectives are to attract, educate and empower a generation of intelligent, focused and globally-minded young Jews, giving them the skills and confidence to be effective and committed leaders of the Jewish and wider community.
The Trustees, who are also the directors for the purpose of company law, and who served during the year were A Savage, N Schiff , Max Steinberg and A Steene. None of the Trustees have any beneficial interest in the Company.
On 15 May 2012, the Trustees were replaced as members by Jewish Futures Trust Limited which became the parent undertaking and at present guarantees to contribute £1 in the event of a winding up. During the course of the year JFT provided central head office services to FJL and JFT’s other subsidiary charities at cost (as detailed in the notes to the accounts), to enable the group to benefit from econonmies of scale. It encouraged group charities to use the resources of sister charities to benefit from their expertise, in furtherance of each others’ charitable ohjectives.
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. The number of Trustees shall not be subject to any maximum but shall not be less than two. The appointment and training of a new Trustee is subject to the oversight of current Trustees.
There are no specific restrictions imposed by the governing document concerning the way the Charity can operate.
Volunteers are not used by the Charity to fulfil any Charity or operational activities.
Charity’s Objectives and Activities
The Forum for Jewish Leadership (FJL) was established to identify, educate and empower young Jewish leaders through programmes and activities which connect them to their community, culture and heritage in a meaningful way. In doing so, we seek to enable those leaders to make long term contributions across the community. FJL seeks to meet these objectives by running seminars and programmes in the UK, Israel, the US and Europe.
Achievements and Performance
FJL resumed a full programme of in person activities in UK and programmes abroad after the ending of all Covid-19 restrictions. 4 major trips were hosted for 150 leadership participants. The Charity continued to promote its programmes of smaller engagements and activities as well as its on line learning initiatives.
Page 3
Forum for Jewish Leadership Limited
Trustees’ Report (continued)
Fundraising
Forum for Jewish Leadership’s fund-raising is principally from Trusts and Foundations and individuals particularly from people or organisations who either use or have benefited from the Charity’s activities and have wished to show their appreciation. FJL does not engage in large scale fund-raising activities like mass mailings, telephone fund-raising or door-to-door campaigns. FJL does not employ a professional fund-raiser nor engage the services of any third-party organisations to help raise funds. To this end, the Trustees have not considered it necessary or appropriate to sign up to any regulatory code of fundraising practice but aims to ensure that fundraising is done professionally and in accordance with good practise. FJL has not received any complaints about any aspect of its fund-raising during 2020 or since then.
Financial Review
During the year, because of the higher than expected costs of international programmes, post Covid-19 lockdown, the Charity incurred a deficit in the year of £13,252 (2021: surplus £14,482). Total Funds on the balance sheet are now £15,463 (2021: £28,715). Free Reserves at 31 December 2022 were £15,463 (2021: £28,715).
FJL is supported by a broad spectrum of donors from across the community, ranging from grassroots student-level programme participants and alumni to a number of philanthropists and Foundations who partner with our charity and help encourage our activities. Most fundraising is done through direct relationships with our partners and through effective communication of the importance of our work to the wider audience of our supporters.
Since 1 November 2017, FJL has worked in partnership with Aish Hatorah UK Ltd, a group charity, both of whoms’ sole member is Jewish Futures Trust Ltd. The partnership works to enable FJL to deliver its activities in a more focused way to UK students , and Aish Hatorah provides financial support for FJL UK activities.
All of FJL’s expenditure is focused on creating the wide range of successful high-quality educational courses and popular, impactful activities that deliver our stated charitable objectives.
As Trustees, we cannot stress enough how grateful we are for the support provided by our contributors. The funds provided and the time and care contributed are significantly impacting those participating in our programmes and, by extension, the wider community and, although our thanks are expressed regularly in person, it would be remiss not to mention the immeasurable difference that all involved in the Charity are making.
Key Risks and Uncertainties
The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. A reduction in donor base could cause cash flow issues; any delayed receipt of pledged donations or participants income could also potentially cause cash flow issues. The major risks facing the Charity are reviewed regularly at management meetings. Regular reviews of cash flow projections and budget forecasts are also undertaken, as well as a continual drive to reduce expenditure and negotiate better terms and rates.
The impact of Covid-19 in 2022
During the whole of 2022 the Charity was able to deliver its programmes and activities,without any impact on participants caused by Covid-19 restrictions. Programme operators, staff, supporters were all able to help its charity activities without disruption
Page 4
Forum for Jewish Leadership Limited
Trustees’ Report (continued)
The impact of Covid-19 in 2022, continued
Management and Trustees continue to monitor the Charity cost base on a regular basis to ensure that programme, event and educational costs do not exceed foreseeable income. The Management Team are regularly assessing the operational and logistical capabilities and finance consequences to update plans and budgets.
Public Benefit
The Trustees acknowledge the duty in Section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s published general and relevant sub-sector guidance on public benefit.
All activities undertaken by FJL are for the public benefit. With a range of activities offered for a generation of able young leaders, the organisation’s operation is very much geared to providing benefit to the Jewish and wider community as is highlighted by the activities reported herein. By encouraging those who participate in our programmes to consider their moral responsibility as givers
Plans for the Future
The Charity currently has 4 international internship programmes booked for 2022, with further in person programmes being developed. The Charity will continue to develop its on line offerings to expand its participant base across a global network.
Reserves
Up until recently, FJL has not had an official reserves policy. The Trustees have determined that FJL should endeavour to hold free reserves representing 3 months of operational costs, approximately £30,000. The Trustees aim to meet this target by the end of 2024.
The Charity has always functioned with a low level of Reserves and the Trustees are satisfied that the level of Free Reserves is adequate to deliver adjusted programmes and resources. The level of Free Reserves, while below target, are considered adequate at the current time. The Board will continue to review the Charity’s reserves and its policy annually.
Trustees’ Responsibilities in Relation to the Accounts
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each financial period. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Standards and applicable law). 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 Company and of the profit or loss of the Company for that period. In preparing these financial statements, the Trustees are required to:
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a. select suitable accounting policies and then apply them consistently;
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b. make judgements and estimates that are reasonable and prudent;
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c. follow applicable UK accounting standards and the Statement of Recommended Practice, subject to any departures disclosed and explained in the accounts;
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d. prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
Page J Forum for J¢wlsh knder5hlp Limited Tntee$, Report (continued) Tru$tee8' Re$ponslbllltl¢8 ID Rel#tlon to the Accollts, rothtinued Th¢ Trustee5 Ère responsible for keeping adequate a¢¢ounting records that are sufficient to show and explain the Company's transactions and disclose with re450nable accuracy at any time the fu¢1a1 position of the Company and enable them to ensure that the financial statements comply wilh the Companies Act 2006. They are also Tespinsible for safeguarding the Assets of the Compony and hence for taking reasonable Stepy for the prevetjtion and detection of fraud and other irregularities. Thls Teport has been prepared in accordan¢¢ wilh the provisions applicable to compani¢s Subject the small componie8' re8ime al w&8 approved by the Trnstees on 6 D¢cember 2023 and signed on their behalf by.. Neil Scl Trustee
Page 6
Forum for Jewish Leadership Limited
Independent examiner's report to the Trustees of Forum for Jewish Leadership Limited
I report to the Charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2022, which are set out on pages 7 to 14.
This report is made solely to the charitable Company’s Trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and the charitable Company’s Trustees as a body in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the charitable Company’s Trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable Company, the charitable Company’s members as a body and the charitable Company’s Trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the Charity’s Trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your Charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of The Institute of Chartered Accountants of England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Alastair Lyon FCA DChA Aquis House 49-51 Blagrave Street, Reading, Berkshire, RG1 1PL
11 December 2023
Page 7
Forum for Jewish Leadership Limited
Statement of Financial Activities
for the period ended 31 December 2022
| Note | 2022 | 2021 | |
|---|---|---|---|
| £ | £ | ||
| Income: | |||
| Donations and legacies | 4 | 306,625 | 167,352 |
| Income from charitable activities: | |||
| Participant payments | 157,415 | 121,155 | |
| Other income | 4 | - | 26,593 |
| Total income | 464,040 | 315,100 | |
| _ | ______ | ||
| Expenditure: | |||
| Raising funds: | |||
| Donor fundraising costs | 5 | 3,288 | 3,068 |
| Expenditure on charitable activities: | |||
| Charitable activities | 6 | 474,004 | 297,550 |
| Total expenditure | 477,292 | 300,618 | |
| _ | ______ | ||
| Net (expenditure)/income for the year | (13,252) | 14,482 | |
| Reconciliation of funds: | |||
| Total funds brought forward | 28,715 | 14,233 | |
| Total funds carried forward | 15,463 | 28,715 | |
| ====== | ====== |
The Statement of Financial Activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The notes on pages 10 to 14 form part of these accounts.
Pagt 8 Forum for Jewish Leadership Limited Company number: 07453042 Balance Sheet As at 31 December 2022 Note 2022 2021 Current AsJ¢ts DebtOTS Cayh at bank and in hand 46.519 34,171 85 72,587 101,025 Credltor8: Amounts f8lling due within one year Ne14Wt$ 15.463 28,715 Funds Unr¢stri¢led funds 715 Tothl fundg 15,463 28,715 For the financial period ended 31 December 2022, the Company was entitled ¢0 exernption from audit under Section 477 of the Compani¢$ Act 2006., and no notice hs been deposited under Section 476. The Trusiee$ a¢knowledge their responsibilities for ensuring thal th¢ Company kee9 a¢¢ounting records which comply with Se¢iion 386 and Preparing accounts which 8iYe a irue and fair view of the state of affair5 Qf lhe Company ai ihe end of the period and for its profil or loss for the financial period in accordunce with lh¢ requirements of sections 394 and 395 and which otherwise ¢omply with ihe requirements of the Companies 21K)6. so fgr as applicable to th¢ Company. The accounts were approved on O December 2023 Signed on behlllf of the board. Trustee Neil Sthi The not¢5 on pages 10 t 14 forni pan of these account5.
Page 9
Forum for Jewish Leadership Limited Company number: 07453042
| Statement of Cash Flows As at 31 December 2022 Cash flows from operating activities: Net incoming/(outgoing) resources Decrease/(increase) in debtors Increase/(decrease) in creditors Borrowings on credit cards Net cash (used)/ provided by operating activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Total cash and cash equivalents at the end of the year |
2022 £ (13,252) (12,348) (15,189) 3 (40,786) (40,786) 66,854 26,068 |
2021 £ 14,482 (27,583) 39,981 24 26,904 26,904 39,950 66,854 |
||
|---|---|---|---|---|
Page 10
Forum for Jewish Leadership Limited
Notes to the Accounts – 31 December 2022
1 Company information
The principal activity of Forum for Jewish Leadership Limited is the advancement of Jewish education and culture. The Company is registered as a charitable Company limited by guarantee (company number: 07453042, charity number 1139858). It is incorporated and domiciled in the UK. The address of the registered office is 379 Hendon Way, London, NW4 3LP.
2. Accounting Policies
a. Basis of Accounting
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2015), applicable UK accounting standards including the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006. The Company 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 notes. The principal accounting policies adopted in the preparation of the financial statements are as follows:
b. 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 Company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Company for particular purposes. The cost of raising and administering such funds are charged against the specific fund.
c. Expenditure
Cost of fundraising activities are those costs incurred in attracting voluntary income.
Charitable activities include expenditure associated with the delivery of its activities and include both the direct costs and support costs relating to these activities.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include the independent examination fees and costs linked to the strategic management of the Charity.
Support costs have been allocated to the expenditure categories based on the management’s estimate of the proportion of time and resources consumed by each of the key activities of the Charity.
d. Income
Donations are accounted for when the Charity becomes entitled to the donation and any conditions for receipt are met.
e.
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to the expenditure.
Page 11
Forum for Jewish Leadership Limited
Notes to the Accounts – 31 December 2022
f. Government Grants
Grants are accounted for under the performance model as permitted by the Charity SORP. Coronavirus Job Retention Scheme grant income is therefore recognised on a straight line basis over the furlough period for each relevant employee.
g. Financial Instruments
The Charity holds only financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments include debtors and creditors. Debtors and creditors are initially recognised at transaction value and subsequently measured at fair value. Note 15 provides more information on financial instruments where future cash flows are anticipated, with financial assets referring to debtor balances excluding prepayments, and financial liabilities referring to all creditor balances excluding deferred income and other taxation and social security.
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h. Going Concern
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Following a review of the financial position of the Charity, in light of the ending of the Covid19 crisis, and with the Charity having general reserves of £15,463, the Trustees are confident that the Charity can generate sufficient donations in 2023 to ensure that it can maintain its revised activities and resources. The Trustees consider that there are no material uncertainities about the Charity’s ability to continue as a going concern and have reasonable expectations that the Charity has adequate resources to continue its activities for the foreseeable future. Accordingly they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
3 Key Judgements and Estimates
In the application of the Charity’s accounting policies, which are described in note 2, Trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects the current and future periods.
The Trustees consider that there are no material judgements in applying accounting policies or key sources of estimation uncertainty.
4 Income from donations and legacies
| 4 | Income from donations and legacies | ||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Donations and gifts | 306,625 | 167,352 | |
| ========= | ====== | ||
| Other Income - Job Retention Scheme Furlough grants | - | 26,593 | |
| 5 | Donor fundraising costs | ||
| Donor relations | - | - | |
| Travel and accommodation | 160 | - | |
| Staff costs | 2,832 | 3,068 | |
| Support costs and office rental | 296 | - | |
| 3,288 | 3,068 |
Page 12
Forum for Jewish Leadership Limited
Notes to the Accounts – 31 December 2022
6 Analysis of expenditure on charitable activities
| Basis of allocation Staff costs Direct Programme & trip expenditure Direct General office Direct Independent examination Direct Support costs Governance costs Total charitable activity expenditure |
Charitable activities Support costs Governance costs £ £ £ 22,819 30,990 - 389,561 - - - 29,260 - - - 1,374 412,380 60,250 1,374 60,250 (60,250) - 1,374 - (1,374) 474,004 - - |
|---|---|
All expenditure was unrestricted during the year.
7 Analysis of staff costs, trustee remuneration and expenses
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Salaries and wages | 51,498 | 52,109 |
| Pension costs | - | - |
| Social security costs | 5,143 | 4,753 |
| 56,641 | 56,862 | |
| ===== | ===== |
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 (2021: £nil). There were no trustees' expenses paid for the year ended 31 December 2022 (2021: £nil).
The average monthly number of employees during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| Support | 2 | 2 |
No employee received remuneration amounting to more than £60,000 in either year (2021: £nil). Total remuneration paid to key management personnel was £31,651 (2021: £26,421). All trustees are included as key personnel.
Page 13
Forum for Jewish Leadership Limited
Notes to the Accounts – 31 December 2022
| 8 Debtors 2022 £ Trade debtors 531 Other debtors Amounts owed by sister charities 12,173 10,000 Prepayments and accrued income 23,815 46,519 ===== 9 Creditors:Amounts falling due within one year 2022 £ Credit card balances Trade creditors 170 3,413 Amounts owing to sister charities 23,568 Social security and other taxation 1,417 Other creditors 27,056 Accruals and deferred income 1,500 57,124 ===== |
2021 £ - 34,171 - - 34,171 ===== 2021 £ 167 10,604 - 2,322 3,682 55,535 72,310 ===== |
|---|---|
- 10 Capital commitments
Amounts contracted for, but not provided in the accounts, amount to £nil (2021: £nil).
11 Movement in Funds
| 1 | January 2022 | Income resources | Outgoing resources | 31 December 2022 | |
|---|---|---|---|---|---|
| & gains | & losses | ||||
| £ | £ | £ | £ | ||
| General funds | 28,715 | 464,039 | (477,291) | 15,463 |
Page 14
Forum for Jewish Leadership Limited
Notes to the Accounts – 31 December 2022
12 Related Party Transactions
Forum for Jewish Leadership (FJL) is a subsidiary of Jewish Futures Trust (JFT), the sole member of FJL. FJL incurred costs from JFT during the year totalling £23,568 (2021: £19,809) for its share of the provision of central office services and facilities that JFT provided, at cost, on a group level, to all sister charities. At the year end FJL owed JFT £23,568 (2021: £nil).
Aish Hatorah UK is a subsidiary of JFT , the sole member of the Company. Aish Hatorah supports the costs of Forum for Jewish Leadership’s international and UK activities as they benefit Aish clients and supporters. At the end of the year FJL accrued contribution income of £10,000 (2021: £nil) towards these FJL costs. At the year end Aish Hatorah owed Forum for Jewish Leadership £10,000 (2021: £nil).
JFT-Jewish Futures Foundation Inc is a charity in the USA which shares a trustee with the Company. During the year, the Company received donations from JFT Jewish Futures Foundation Inc totalling £80,718 (2021: £70,050). At the year end, JFT-Jewish Futures Foundation Inc owed the Company £2,149 (2021: £8,577).
JFT Netzach is a charity incorporated in Israel, which shares a trustee with the Company. During the year the Company received donations from Jft Netzach of £3,109 (2021: £41,678). At the year the Charity owed the Company £2630 (2021: £548).
13 Parent Undertaking and Ultimate Controlling Party
In 2012, the Charity came under the control of Jewish Futures Trust Limited, a company registered in England and Wales. The Company is a 100% subsidiary of Jewish Futures Trust Limited, a limited liability company , registered number 07884678 and a registered charity number 1151066. Jewish Futures Trust is involved in public education and cultural activities.
The Trustees regard Jewish Futures Trust Limited as the immediate and ultimate parent company. Jewish Futures Trust prepare consolidated annual accounts , including the results of Forum for Jewish Leadership. A copy of the consolidated accounts can be obtained from the JFT head office at 379 Hendon Way, London NW4 3LP.
14 Financial Instruments
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Financial assets measured at amotised cost | 48,772 | 101,025 |
| Financial liabilities a measured at amortised cost | 55,454 | 16,608 |
| ====== | ====== |
Financial assets measured at amortised cost include trade debtors, amount owed by group undertakings, other debtors and cash equivalents.
Financial liabilities measured at amortised cost comprise trade creditors, other creditors and accruals excluding deferred income.