The Association of Jewish Refusees THE ASSOCIATION OF JEWISH REFUGEES (AJR) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 ChaTiIy Dumb¢r: 1149882 Company Number: 08220991 Illl *AB858M5N• 1Y07r2022 COPAPANIES HOUSE
THÈ ASSOCIATION OF JEWISH REFUGEES {AJR) FINANCIAL STATEMENTS FOR THE YEAR ENDED31 DECEMBER2021 CONTENTS P•ge DETAILS AND ADVISORS TRUSTEES. REPORT STATEMENT OF TRUSTEES, RESPONSIBILITIES 10 INDEPENDENT AUDITOR'S REPORT STATEMENT OF FINANCIAL ACTIVITIES 14- 15 BALANCE SHEET 16 CASH FLOW STATEMENT 17 NOTES TO THE FINANCIAL STATEMENTS 18-28 ACKNoWLE[EMENT 29
THE ASSOCIATION OF JEWISH REFUGEES {AJR) DETAILS AND ADVISORS FOR THE YEAR ENDED 31 DECEMBER 2021 STATUS The Asso£iation of Jewish Refijgees (AJR) is a registrred chariry and ¢ompany. lirnii¢d by 8uaTani¢e and i5 regist¢r¢d in England and Wales (08220991). li was incorporaied and 5¢1 up by a Memorandurn of Association on 19 SepiemE¢r 2012 as amended by special re501ution on 15 November 2012. The charitable rompany cornrnrnced acttvities on l January 2013. ORGANISATION The chari¢abl¢ company's straiegy 1$ w and mana8ed by the Trustecs. who are also its direcrof5 for ihe purpose5 of company law. The Tnree$ are.. Mrs E Angel Mrs G Glassman Mr F A HaTdiR8 Mr D Kalrnan Mr M Karp MrA C Kaufman M8E Mrs M King51ey MrSKon Mr A Spiro OBE Mrs P StrdU5S Mr M J White {from IOAJ6f2021) REGISTERED OFFICE Winston House 2 Dtsllis Park London N3 IHF Chwrliy regi$¢r4tlots nMber. 1149882 Company re8istr•tion number. 08221)991 BANKERS CAF Bank Limbted Kings Hill West Malling Kent ME19 4TA INVESTMENT MANAGERS Rathbtsne Investsnent Management Limiied 8 Finsbury Circus London EC2M 7AZ Ruffer LLP 80 Victoria Street London SWIE 5JL AUDITORS Haysm3cintyTe LLP 10 Queen Street Place London EC4R IAG
THE ASSOCIATION OF JEWISH REFUGEES (AJR) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER2021 The Tnjstees present their report and the audircd firClaI 51atemcnts for rhe year ended 31 Deccmber 2021. which show the state of Ihe ¢hariiable company's afTaiTS ai that daic and the incornc and expendiwre for Ihe year then ended. STRUCTURE, GOVERNANCE AND MANAGEMENT Truste¢s The following served as TnLStees of the charilable company duringthe year and Yemain tn office unless otherwise stared as at the dale this rert was approved.. MT5 E Angel Mrs G Glassman Mr F A Harding Mr D Kalman Mr M Kajp Mr A C Kaufmn Mr5 M Kingsley MrSKon Mr A Spiro MTS P Strau5S Mr M While (5.6.7) (81 {12.3.6.7) (7,8) (6,71 (5.6.7} (Appointed 10106n02l) IS.6.8) (2.4.5.6.7) (2.4.6.7) {1.4} l.. Member of Audit and Risk Committe¢ 2.. Member of the Inv¢$tmeni Commill¢e 3= Member of Finance Committe¢ 4: Member of Self-Aid Committee 5.. Member of GTants Committee 6.. MEmber of StTaiegy CornrnittEe 7.. Member of Nominaiions Committee 8.. M¢mber of Next Generation Comrnittee Trustee$ are appointed for a period of four years. after which they are required to be -t1¢cred by a vole of members at Ihe Annual Election Meeting should they wish io coThtinue to serve. Trc$ can serve a maximum of three terms. When Ihe charitable cornpany Vds formcd in January 2013. with nine original Trusiee$. a Sknjcture was pui in place requiring three Trustees to $tsnd for re<leciioth every year in ordv io maiTltain boih Coniinuiry and rotaiion. On ihe fourth year of thai cycle. no TTusi¢es siood for te-eleciion. Wilh th¢ retir¢meni of ihree of th¢ 0ri8inal Trustees and ihe appointment of new TnJsie¢s, Ihe Trustees have develo[d a schedule for when each servin8 Tstee 15 due for re-elt£tion. In December 2022, three servinÈ TTU5tees will be rzquiTed to staThJ for re.eleciion. each for a maximum two-year leTm. In 2021 no Trustees wcrc required io siand for re4le¢tion. Mr Michael Karp was appointed a'fnjsiee on 10 June 2021 and fornially ¢l¢¢¢ed ai the Annual Eleciion Meetin8 held on 2 Dcctmber 2021 when he was also elcctcd by the Trustee5 to become the Chainnan. The Trustee$ noted their graiittjde to ihe olltgoing Chaimian Mr A Kaufinan for his many years of dcdi¢aied setvi¢¢ to the charitable compgny. Five Trusiees hav¢ been appoint¢d in the nine yeaT5 of the ¢hwitabl¢ rnpanY opeTaiÈng as ? wmpany up io the date of Ibe5e account5. Any new Trustee will be rrquired to widertake an itmluction programme relaiing to the aims and vbj¢¢tives of the chaiiiabl¢ Company, the background of its bEnefici4ries and th¢ sysierns in plac¢ to deliver rh¢ seryices of the charitable company. Each Trustee will bc required to demonstraic suitabk knowledge of ihe role and of charity trNsi¢e5hip by experience or by training prior to, or shortly aftu. appoinbl)eni. The strY4ttgy and poli¢i¢s of thc chari¢abk company are decided by ihe Tnlets. rhe responsibility for rh¢ execuiion of those poli¢ies is delegated io the staff lcd by its kcy managemeni con515ting of the Chief Executive. Mr M Newman OBE, $upport¢d by Ihe Finan¢e Director. Mi A Dani¢ls. who report regularly to the Trustees. Mr A Daniels succeeded Mr D Kaye who retired in April 2021 after tcn ycars, servi¢e. The Tntee5 muth appre¢ibted his dcdicaled servicc. The pay of the ChiEf Executivc. the Finance Dire¢tor and all siaff is miewed annually and nomially increased in accordance with average eamings io refl¢ci a cosi of living adjustment and 10 ensure all employees ar¢ remunerated al not less than the national living wage. The charitabk company lakes suitablc proftssional guidanEe in the deteThination of the rernunerdtion of its key management. The Trustees give active Conside10Th ro the malrer of Tnlee succession and where possible COvOPt volunt¢eT5 with suirable knowled8e and experience to assiM ihem as members of committees considering mattcrs relevani to their skillsei and qualhfications as a pr¢¢ursor io possible 11 Tr0ce board membership. Since 2019 the Trnst¢es have ¢nhan¢ed the 8overnance regime by creating fiwther committtes of TrUte$ and suithle volunteers (¢o-OPtEd member5) to manage the affairs of the Charitable company. These remain in place and cover.
THE ASSOCIATION OF JEWISH REFUGEES {AJR) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 (CoAtinutd) STRUCTURE, GOVERNANCE AND MANAGEMENT (tied) Audit artd Risk Apwints txtemal auditor. oveT5ec5 audii process. overstts statutory and regulatory reporfs. rnonitors risk managemeni Monit$ financiDI wfonnance. oventts budget and asset management Overge5 and approve5 8Y8n15 made for educational purp05e5 Ovusees and approves use of tompgny funds f0rcharilab grnnis to individyal benefiarhe5 Finance GranES Self - Aid Strategy Nominations Direcrs long 5trate8y of th¢ charitable company Approves the nominaiion of new Trusiees and committee memr$ Se¢s invesm)¢nl policy. OPPOiMS. direos and monirors prnfessional fvnd managers io manage the market in5th)entS of the chaTitablc company Inve51meDI Risks intsrn#l tontrnb The Trusie¢s are r¢5pofL5Dble foren5wing thai eff¢ciiv¢ and adequate risk man8gem¢m arLt1 iniernal $ysiem5 in place io maDage ihe rfiajor risks to which the ¢harirabl¢ company is exposed. It Carries ihis oui by monitoring the effethiv¢ness of ihe risk managem¢nt frameviork. The framework i$ de5igD¢d to support infomed decision making regarding the risks thai affect the ability of ihe ¢harilablc Comparty to aehievc rt5 obje¢iive5. The framework is designed to rnan8ge. rather than eliminaie. the Tisks io ihe ¢hariiable company's objectives and io provide reasonable, bur not ab501ule. assurance againsi material mi5-slement or105s. Within rhe framework. Ihe principal risks and uncertainiies which have E¢tn identificd. thgeiher wiih tht aciions thken io mitigaic ihem. ar¢ as follows. Risk identi Action take to mil- ate the ri5 Inve$tm¢nt Invesim¢nts made by the charitable compaDy are noi properly managed or perfonn Fw)orly whith lead io r¢dLEciion Jn funding Ihat would bt availabl¢ 10 SilPPQrt the objeciives of the ¢hariMblt compony. Use of 44>roved inve$imeni counrerparties wiihift approved fmancial limits coupled with a ¢l¢ar inve51meni polity focused delivering T¢rn$ and fvnd5 for the chariiabk company's strategi¢ obje¢tlV¢5. The Inv¢stmeni Comrnillrt reBul4rly reviews the invesirntnt portFolio with rh¢ invcsthbEni manag¢TS and Teports rcgularly to the Tntees. Claims Conference: Thechariiable company suffers a redwiion in hjnding from the Claim5 Conference, which lead5 19 lower fundin8 available tD both the charitable company's beneficiaries and those of other 08en¢ies and Chariiies wirhin ihc UK Urnbrella Group {-A8enciesy which thc rharilablc company Icads. A eonstani and constructive dialo8u¢ is rnaintained with the Claims Confertnte ro ensure that internal ctsntro15 and compliance mtti ihecondilions imposed. coupled with both $taluiOry audii and Claims Conference alldits. The inability to recover nI funding made by Controls are in plK¢ {iD¢lydiTh8 regular liai50n). coupled charity io bert¢ficiaries and io the Agencies. withaudii sryle Teviews, overthe Agencic5' own beneflciary beneficiaries in advanct of receipt of monies from th¢ documenthrioth to Cnsure that Claims Cooferenc¢ ¢ondirions Claim5 Conferertce. are met. An indemThity aan&ement is it) place to protect the cltarrtable company in the event that ihe AgeIe5 do nor comply with the relevant ¢ondition5. In March 2021 Ihe bilaieral aementS with ihe Agencies were reviewed. pdated and re-sigThed and afford the charitable company gre&eT protection from the risk5 in disbuTsittg Claims confer¢¢ fund5.
THE ASSOCIATION OF JEWISH REFUCEES (AJR) TRUSTEES, REPORT FOR THE YEAR Ef4DED 31 DECEMBER 2021 (CoDtiuued) STRUCTURE, GOVERNANCE AYL D MANAGEMENT (tInUed Risks Ind intern1 tontroh {co&llmed} Action taken te the risk Grnt$ The ¢hariiable company 15 unable io support its objectives Eecau5e of z failure io control properly grants and awards made from its own funds. Controls Itx)th l)udgeiary and in ternis of obie¢ttv¢) ar¢ in place ¢0 ensure proper scrutiny of all application5 made io rhe charitable company for support (together with appropriaie follow up m)st award), whether ihese are in resp¢¢t of edu¢ational proje¢ts or financial sUPPOrt for bencfKiarics beyond that provided frorn Claim5 Cortference monies. Reputation Evenis which May adversely atreci the ¢hariiable company's reputiOn and operations. The% could include a $erious daia security breach from a ¢T- anack or non-compli3nce with data protection law& a serious fraud, an issue relaied to th¢ thartlable company's human resource practice5 and behaviour5. or a significani health and Safety ot safegLArding Lrtcideni. Other risks include the failure to atN8d. develop and retain talEnted staff and the ir4bility 10 r¢cruii SUtTi¢ieni numbers of volunleers. Policies and pTaaic¢s are sd and monitored by senior managemeni and the TruX¢t& including an organisatiort wide risk manag¢m¢ni prowmm¢, which includes anti- fraud processes and contro15 a5 well as comprehensive training artd awaren$ programmes for all staff. This includcs data protection and safeguarding training and remindcrn Inf¢Jrm8tion security policies and proc¢dwe5 ar¢ in pla¢e which include securily patching, vulnerability scanning, penttration tesiin8 and the use of antvIn15 software. DedicaTed specialist resoiir¢f5 are used for $8feguarding. dau security, health and safery. Talent manag¢menL volunieer acquisiiion and management together with 5w¢ession planning programmes are in place. Regular reviews are undertaken of recroilment and re50ur¢iTtg PTocesses. with benchmarking undertak¢n of compensation acr955 key disciplines. The st¢ps iaken to modify the operatin8 meihods of the charitable company ro miti8aie risks ari5in8 from the Covid-19 pand¢mi¢ en.%ured ctsntinuity of servi¢e and helped protttt tl?enrs and siaff. Protocols ouilining ¢orbditions for l)ome visi1$ by the charitable company's Sla[ Workers and volunfeeT5 a5 well a5 OUtr¢a¢h coordinaiors are regularly reviewed by sensor rnaJagem¢nr. These will remairt in pla¢e for as long as ihe Tnlet$ consid¢r necessary as advised by senior management.
THE ASSOCIATION OF JEWISH REFUGEES (AJR) TRUSTEES. REPORT (tottilAued) FOR THE YEAR ENDED 31 DECEMBER 202] STRuuRE. GOVERNANCE AND MANAGEMENT (tonliou¢d) Connected parties The Chariiable ¢omp8ny ha$ strong links with thc following orEanisation$ with ]Ch working ttlationships have bern e5tabli5hed or continued.. anis*¢io ivi Natu f relati n5hi Confer¢n¢e on J¢wi5h Maierial Negoliaiin8 with GeanY8 Austria on Claims Against Germany Inc. behalf of Holocaust survivors and {"Claims ConfeTence") refu8ees and actin8 as the suctessor of heirless property in those countrie5. The Chief Exe¢utiv¢ sits on Ib¢ Board of Direct(Y5. United Restilution (kganisation Provision of funds ¢0 UK resident victim5 of Nazi iJppressiM of Geman OTiBin. Strong ongoing relationship (UKO) Wiener Holocau# Lilwary One of ihe world's leadin8 and m051 cxtensivE arthives on the Holo¢ausi and Nazi One Truste¢ is a mEmber of Ihe Board of TnLSte¢s, one Tru$iee is a rnernber of the Endowment T1 and one Trusie¢ is Joini President. Detsils of tyansa¢tions with these or8anisations are scl out in thc note5 10 the accounts. 0£criVE& ACTIVITIES AND PUBLIC BENEFIT The main objectives of the charitable company are io provide 5uppn to its beneflciaries who are Jewish SUTvivors of. and Tefvg¢¢5 from. Nazi OPPTes5ion and their d¢pendents experiencin8 illness and frailty, to relieve their financial di$¢res5 and to provide granrs to promote education about. and commemoration of. th¢ Holocaust and related maiters. During the year ihe TnL#ets 8ave due re8ard th thc 8uidancc issyed by the Charity Commission on thc subjttt of public benefit at)d were satisfied ihat these requirements were fijlly mtt. During the year. the charitable company provided and fvnded a range of servic¢$ ¢0 ¢nhan¢¢ the welfar¢ and maintain ihe Jl¢ural fdditions and interest5 of lorrner Jewish rcfugecs from Nazi OPPTes5ion. In addilion. li provided ndS io thos¢ former r¢fugees in need, funded further retording of life hi5t0ri¢5 of survivin8 refugees and made edu¢ational grat)t5 in relation io Holocaust Studies and other gran¢$ io rpetUa awar¢nes5 of ihe Holaust and the suffering it caused. The charitable company ha5 increased its commitmeni ro the wming of conference5 and seminar$ on matters reiaiing to ihe rnemorialisation of the HoloEaust, although the ability to exe¢uie 5uEh activity durLn8 year was cortstrained by Covid- 19. The servi¢e$ provided included advi¢¢ and guidance on welfare benefir5. foreign pension entitlements and reparaiions.. volunteers vi51ted those who wer¢ housebound. providing¢ompanionshipand LO assisi with praciical mallers. kosher meals- on-wheels were delivered weekly and a social services department provided £(prehenSive w¢lfare seryices and as5e5sed m¢mb¢rs' needs in Iheir home5. The chariiable cornpdny continu¢5to a55151 mernbews and their de%cndants to Explore their ¢li¥ibiliiy 10 r¢store their fonner citizenship. Some of the ¢haritable company's core aeiiviiies and serYrce5 were atlY impackd by the restrictions of Covrd-19 including rnembers. attendance at ib¢ Jewish Care day ¢entr¢ facility, the regial groups at which member5 would oiherwise meet to share their Coryunon hefitsge and outreach to unaifiliated suryivors and refugees; ¢oncens, holidays. ouiin8s and eniertainment were similarly ¢urtailed. The Eharitable company serves as • lead charity in an Umbrella Group of five UK clwiiies which support Holocaust survivors aftd refugees. lrt filling this rok, it engages in discussi0Tr5 with ihe Claims Conferen¢e concerning social welfare pmgramrne5, principally the PTOVi5ion of HomecarE and oiher in home ser¥ice$ and emergency care fimded byihe Gernian and Ausrrian Governm¢n15. and is a condutt for ihe receipi and disbursal of fund5 those a8en¢ie5 and iheir beneficiaries. The charhiable company has also administered a similar programTne of managemeni of funding provided by the United Resiitution 0r8anisation (URO) to 5UPPOtt Victims of Nazi persecution who are of Geman origin with social and emcr8ency needs. Th¢ charltable cornpaThy actively partLClPatu in dcliverinÈ the mi55kOrt of the Iniernational Holocausi Remembran¢¢ Alliance, 80 iniernational organssation whose objectives are LO nise awareness of and appropriarely mcmorialise the Holocau51.
THE ASSOCIATION OF JEWISH REFUCELS (AJR} TRUSTEES. REPORT {tonlinue411 FOR THE YEAR ENDED 31 DECEMBER 2021 OBJEcfivES AcfiviTIES AND PUBLIC BENEFIT (continued) Among irs related activiiies, the charitable compw)y ha5 participated in the UK Governrnent's consulrations to creaic a national Holo¢aus¢ memorial and learnin8 centre adjacent LO Parliament in Westminst¢r. The ¢haritable company uses volunteers to support Its social outreach activity. Volunteers visit and call members to miligate isolation and io assisi in Icarning activity particularly in relation to the use of infomiaiion technology. More than 300 volurtieers provided approximately 20,000 hours of visii lime. supplemenling lh¢ social service learn by the equivalent of13 fv11 t¥me and outreKh aff. calling OD rn¢mbus and helping oui events. Crnnt mklng policy The AJR disbursed social welfaTe wnis to individu81 AJR members whose requesis wer¢ ¢on5ider¢d on a case by case basis. Subject to each yant being fora purpose in line with the objedives of the ¢harii•ble Company. As the lead agency of the Umbr¢lla Grnup. the AJR also disbursed gTan15 to Holocaull Survivors and Tefugees. ineluding iho$e who were noi AJR members. from the monie5 allocated 10 the UK from the Claims Conference. These awards were approved by an Advi50ry Commillee or as oiherwise required under the lern of the Claims Confrrence grants. It also acted a5 paying ageni for gran1$ awarded by Ihe URO. Alottgside the grants to individuals for social welfaff pu05¢$, a sub- commitwe OrTnlee5 an for larger projects, the 11 body oFTrustees, Considered proposals from individuals, Ical cofflmunity groups and rnstitutions for the support of oject5 rclating io Holocaust cducation ond memoriali5aiion. The chariuble company emplo a Heod of Educational Granrs and Sp¢¢ial Projects its provide a profession•1 assessmeoi of proje¢t applicaiioDS, io devise appropriwe educalional and comm¢morativ¢ projects and generally io advise ihe TnLsie¢s in these mall¢rs. ACHIEVEMENTS AND PERFORMANCE The fina]31 smtements for the year endrd 31 December 2021 show * net reduction in funds of £169k {2020.. redu¢iion £1.934k). The operating defi¢i¢ncy before inv¢stmeni gaitts was £2.4m (2020.. £2. Im). This £0.3m incttase irt rh¢ d¢fi¢it retkct5 a partial easing of Covid-19 restrilofts and a movernent back towards"bLL%ine5$ as usual" Covid-19 PTofoundly affected thc manner in whtch the Charitable rnpany delivercd its services during the ye8r: Social work and adminisrrative aciivity were delivered both in person a1 remoiely." Social work teams maintain¢d continuity of servi¢¢ throu8h in person visits. lephonic and Virtual methods. Garden visits and hornE V15its were Carried out during ihe lime win¢Jow in which these were pemiitted. Re8iOllat GrottploLLtreach programme5. previously arranged as physical meeting5 and evtni& were rcplac¢d by online events aftd activilies. A weekly e-newsletter was published which ts[ly $trengtkned lh¢ communicion chann¢l io members and supported participation in onlin¢ aciivity. Administraiive servires. including ihe prorEssing of all welfare paymenis. were continued with minimal intcrnjption via both homeworking arrdn8ernenis and office based working. SiÈnifi¢ant so¢ial and edUClOn21 events re5tart¢d in the latter part of the ar. including the annual tea (on-lirtel and an cdu£aiional conference ftxusing on th¢ second 8eneration (a hybrid event hosted at Ch¢15ea Fball Club and also streamed on-line). TheTru5tees c¢Jnlinue ro monktOT In5¢m¢nI 5trategyihrou8h the Invwmerrtcommittee and through qlifIed ind¢p¢ndent advisors. £3.9m of th¢ Investmeni portfolio of the charitable company is invested in a lower risk absolute return fund and this. togeiher wiib its cash T¢1ve$. provides liquith.ly and fanCial protcclion in times of unstablc mark¢t conditions.
THE ASSOCIATION OF JEWISH REFUGEES (AJR) TRUSTEES. REPORT (eontinu¢d) FOR THE YEAR ENDED31 DECEMBER2021 ACHIEVEMEJYTS AND PERFORMANCE (contioued) lrnpac¢ Th¢ T51¢¢$ ¥5esy the 5utte5s of the Charttable Company's actlvity in temis of: The oYer811 number of rnernbeTS that il SUPPOrts and the number of Nazs viaims within the Urnbrella Group who benefit from the deliv¢ry of the welfare proyamrne$ administered by the Claims Conference and the URO. The mainienance and enhaftcement of its own welfare grant making programm¢. Attendances {brsih physically and virtually) aL and tsk¢ up of, outreach and social progrdmme5. The lev¢] and regularity of social work visits io, and a55¢ssmcnts of. its members. The nature and quality of outpui of the in51iwiions whose projecis it fuTh4s for commemorative and educational pu$¢$. Records are maintained which report on the kvcl of social 5ervi¢e visit¥ welfare grnnis paid and numbers of 1 Vi¢iim$ assis*d. R¢ports are available to the TTustres. the Clairns Conference and key members of mapagement. Reports and upd8tes are reque$i¢d from organisaiions wh¢)se educauonal and commerrtoraiive proiects the charitable company fund$ to demonstraiE thai grants given are used ¢fflIVe]Y for the PUEpose for whi¢h Ihey were made. Overall rn¢mber5hip over the year remained stable endin8 2021 ai 1.858. 198 new mcmber5 joined. offsctting 227 leavers, of which 161 sadly passed away. 23Yo of joiners were fjrsi 8encralion and 77% wcrc Second and third generation. whith is indicaiive of the attraciion of membership io descendants of our wimary memb¢rs. This is a matter Ihc TnJsiee5 reco8ni5e and will focus on in ihe month$ and years ahead_ During ihe year rhe ¢haTiiabl¢ company's ream of xtial workers con5iStin8 of 14.4 fv11 time equivaleftt staff. made close to 6.000 coniacts by way of visils or t¢l¢phone ulls to m¢mbBrs needing 5uppon. In to¢al, the chaTltable company received grants rela¢iThg to it5 ow# rncmben from and throtsgh the Claims Conference and URO amouniin8 to £4.4m (2020.. £3.5rn) rewescniing a continuin8 50UTCC of grnnt income for specific social proje¢¢s thai wer¢ in line with the activities of th¢)se organisation5 as detailed bclow. £3.7rn {2020.. £2.8ml was distributed directly 10 members. lh¢ r¢maind¢r being 8 contribuiion toward5 Ihe charirable cnpanY'S cos15 of administering the Umbrella Group And disbursing welfare hnds A fiher £0_7m (2020.. £0.9m) wa5 distributed to over 120 of the needie51 members of ihe thariEable Company as part of its Owt) welfare programme. Arising from its relationship with the Claims Conferencc and URO. a total of £9.5m (2020.. £8.6ml of Claims Conference fundin8 was adminLSl¢red by the chariiable companyon behalfof itself and oiheragencies in ih¢ Umbrella Group including the antS shown as resrricL¢d fvnd income and eipendirure in these financial 5taLernenls. Of the £9.5m. £4.4m as above relates directly to AJR members and is reflected in the financial statements. These fvnds art Used to support needy Jewsh victims of Nazi persecution with the provLSLon of carers to enable them to remain in their own homes. and to assist with medtcal, housRn8. transFQrt and h¢r w8eni n£¢ds. These wwamrnc5 have 5upWed in exress of 450 vi¢iims of Nazi oppression. The our¢¢a¢h aciiviry of the charitable company included the holding of 381 meetin8s (the majority of which were online) At which th¢ were 8,601 wdividual aEtendances by members across th¢ country. Growth in 5ervLee provisiort and its fvnding during 2021 was resrri¢ied by the impaci of Covid-19. Th¢ number of ¢lientS rcceivin8 Hornetore funditsg during 2021 de¢lined through monalily or an inability to 5ecuff ur¢rs in the home. The pand¢mic limited the abtlity of agencies io offer day care facililyand trdv¢I was rnuch re5tri¢ied ¥esultiJJg in Ihe use of f¢weT hjnds for ihe$¢ ser¥ices. Neverthel¢ss. the peak levels of Homerare funding reachEd by ille cnd of 2019 after Ihe con(inuou5 growth of thai year weTe sustained 50 thau by way of comparison in 2021. 42,000 additional hours of care were nd¢d ovcr 2020. In total 644.000 hours of care were funded.
THE ASSOCIATION OF JEWISH REFUGEES (AJR) TRUSTEES. REPORT (tontlDued) FOR THE YEAR ENDED 31 DECEMBER2021 ACHIEVEMENTS AND PERFORMANCE Icothtlfftued) Despiie the pandemic. we su¢¢eded in rnarking Ihe AJR'S 80th anniversary with a serie$ of events and celebrations as well as two high-profile llationwide proj¢¢ts. July we launched ow 80 Trees for 80 Year5 wojecL planting native species of trees. mostly oak¥ at 80 different locattons throughout the UK io mark plxe5 ihai were 5i8nifhcant ro the Jewish refugees. AJR members were invited to sponsor a tree in honour of a loved one. Th¢ rree planting ceremonics. which began in November. have io date been allended by a cornbitd physi¢81 awJien¢¢ of approximately 1,500 p¢opl¢, including eight Lord Lieuienan15. 50 Mayor5 and I S MPS. In December. we also launched The UK Holocaust Map. in partnership with the DepartrnCDt for Levellin8 Up, Housing and Communities. Thi5 online platform hi8hli8htS SllC5 of mcrnory across the UK related to Britain's responses io N8zi$m and the Holocaust. As well as ihe trees. the map features layers of tTrfornalion drawn frorn numerous 50UT¢es. including from partrer organisatiorts and the AJR'S owrt resoLLtces such a5 our Refi]8ee Voices archive. Refugee Voices. the tharitable Company's arthive of TtCOTded and d[unnted interriews wilh refvgees, ¢rcated in 2003. was cxpanded wth a fvrther nine interviews and associated records. We pay Thbut¢ to Carol Hart MBE. our ind¢f8ti8able Head of Volunteer Services who sadly passed away ihis year. HeT contyibulion io volvnieerin& as well as io the AJR wa5 imrneasurdble. and her lo&$ ¢oThtinttes to be keenly felt. The Tru51ees are teI for theconsiderable efforts made by the c(Mnpany's employees the many voluThLeeTS to deliver the many achievements described abov¢. Deiai15 of granis made for edu¢aiional purposes are as follows: Beneficiary Amount Purpose of award 8fdnied £15k Creating Holocau resources for Welsh schools £25k To support-The Journey" on portable virtual media £5k HOlast Mcmorial Day teacherr£source5 £5k Sponsorship of 2021 fesiival £l(KJk Towards projects of particular interest to the charitable company £32k Anii-racism and Holocaust ¢dtscaiion £16k AberysNl University Naiional Hola$t Centre National Li¢erocy Trust UK Jewish Filtn Festival Wiener Holocausi Library Facing History and Ourselv¢s Other Total £198k In total. £382k in grants were disrributed in 2021 of which £178k wtrc awarded prior tr) 2021. Thcsc included £I02k to the Imperial War Museum and £50.000 to Huddetsfiejd Univ¢rnity io supp)rt their Holo¢awsi educaiion pro8rarnmes. FINANCIAL REVIEW Restrve5 Ai the balance Sheet date. Total WE5erv¢s ai £23.7m (2020". £23.9m). a]1 of which 15 itiirt5trithed. The TnJst¢es seek to ensure that the level of reserves of Lhe ¢hariiable company are sufficient to fvnd the provision of it5 5ervire5 for the foreseeable future independent of grant income which 15 Th)t guarante. Following a $rrategi¢ review of its aciiviti¢s andcommirmeni& the Tru5tee5 adopied a straie8ic plan in 2019. Con$iderdtion was given ¢0 the dernographit profile of The emr51P of rhe charitable comparty and how thal was likely io ¢han8e over the next ten years. The TTusiec$ Considered that the charitable ¢ompany had suffi¢ien¢ reserves io med its tharithble obj¢¢(ives for the foreseeable fvtte.
THE ASSOCIA TION OF JEWISH REFUGEES (AIR) TRUStEES' REPORT (coAtIDued) FOR THE YEAR ENDED31 DECEMBER 2021 FINANCIAL REVIEW (eonti#yed) Investment poliey The policy of the Charitsble company hs to retain e&sh balance5 Sutficieni io manage the day-tTrd)y working Capital of the eniire Urnbrclla Group with respe io Claims Conference activity as well a5 its own OLLtgoin85. Cash balances above this l¢v¢l ar¢ placed with the charithble company'5 inv¢sth)enl maiia8¢rs Rothly)ne Inv¢smieni Managerneni Limited and Ruffer LLP ('kne M30agersJ. to whom the investment of the fuTrJs of ihe charitabl¢ romparty is dele8ated on a discretionary basis. The broad objtctive$ in r¢lation io the investment of the asseis were and will remain the management of invE5tm¢rtts ftir a balan¢¢d combinarson of ineome and growth. reviewcd periodically by the lttvesrmetht Committee and its advisors, and, in making or v&rying the invesmients. erbsuring that the Managers hav¢ regard to the followin8 ¢riteria: Ihe suitability of any particutar investrneni proposed io be made or laIned the The¢d for divcr5ification of the investments so far 8$ is appropriate 10 the cir¢umsian¢¢s of the charitable company. In relation to the ?bov¢ criteri4 it should bE noted that the total value of the nct 8sts of ihe ¢hariiable ¢ompaThy at the year-end was £23.7m. of which the invesfmeni Portftslio amowiied w £20.5rn. C4sh h¢Id on deposÉt increased to £3.8m. The Tru¢¢$ have we¢d p¢rfonnance benchmarks for thc Managers as detailed below.. Raihbon¢.' PIMFA Balanced (Personal Invest1 Manag¢m¢nt & Financial Advi¢e Asso¢i*ion) Ruffer.. An absolute Terum appmach with the twio objeciives of n(M losin8 value in any rollin8 iwelve-month period while 8rowin8 fuftd5 at a hi8her rate than W[ld be achECTrtd by investing in ¢ash. The charitable ¢ornpany dots not 8enerally acquire invesmi¢nts in matkeis wheTe maTkeiabiliiy is limit¢d. There ue no tsx or Icgal constraints which affttt the countries or jurisdictions in which the invesmienis are held. FUNDRAISING The chariTable company does not solicit fvnds Via phone. email. d1ct mail OT by using third party commercial fiJndrai5er5 and does noi fundraise via a general ¢all foi support. The charitable Company is comrnitted ro being accountable and r¢spon5ible an4 should its fundraisitLB approa¢h Change in the fvture, will register with the UK FundT4isin8 Regulalor. The charitable company re¢eived no ¢omplaints abow fut)draisin8 ¥iivity during either 2020 or 2021. FUTURE PLANS li is iniended Ihat the ¢harrtable company will continue io support ihe neEd5 of Jewish vietims of Nazi opprES5ton with a range of seryices and to support apprOprie educational and commemorative initiatives relaiiThg 10 (hE Holocau$i. During 2018. the Trumees decided to caY out a fitll Ion84em 5tratc8ic miew to determine the Datute of its operation5. A third-party consultani was appOited io fa¢ilitaie this Teview and w(pTk commenced during rhat year which concluded durin8 2019. The strate8ic review been r¢frc5hed land was again reviewed in 2021) and it was a8reed ihat the straiegic fo¢u5 of the charitable company will ¢imlinue to br.. Supportin8 the FIN Generation ofsurvivors and fffvgees tkvelopitt8 servi¢es and &iivities for the S¢¢ond G¢DeTation Sponsoring Holixaust commemoration. teaching and learnrng
THE ASSOCJATION OF JEWISH REFUGEES {AJRI rATEMEPIT OF TRUSTEES, RESPONSIBILITIES The Twstees {who are also the Dir¢ciors of The Asso¢iation of Jewish R¢fiL8ees (AJRI for the purposes of company law) are responsible for preparing th¢ TnLxees' report and ihe financial statemen15 in ac¢oTdatKe wilh applicable law and UK ac¢ouniing llandard5 (UniTed Kingdom Gcnerally Accepted A¢¢oun¢ing PTac¢i¢e). Charity law requires rhe frusi¢e5 to prepare financio15taicmeThts for each finarKial year which 8ive a true and fair view of the 51ate of affairs of the charitablc company and of ijwoming r¢sour¢e5 and appli¢a¢ion of re$ource5. in¢ludin8 the omc and expeDditure. of the ¢hartTable Company for that period. In PTeparin8 Ihese fJn3ncial st8rernents. the Trnstees aye required io-. Seleu suitable x¢ounting policies and theTh apply them consistently- Observe the method5 and principks in ihe Chariries SORP: Make judgments atMI estitnates that are reasonable and prudenL State whether applicable UK aCCJ11nE siandard$ have been followed. $Lkbje¢i io anymateri81 departur¢s dis¢losed and explained ITh the financial Mai¢men15: and Prepare the financial siaiements on thc goin8 concern basis unle$5 Lt is irt8ppropriate to Presume that the haritable company will continue iTh IMLsiness. The charitabl¢ company's investtnents aod liquid res¢wrce5 are such th* * any lime thcy can bc convcrttd into cash afid thus enable it to meet its liabilitie5 and committncnts as they fall thic. The Trus¢9 are responsible for keepiTh8adequate accountin8 records thai are 51iffi¢ieThi to show and explain thc charitable ompany's transactiofis and disclos¢ with reasonable ic¢uracy at any time th¢ fJrtaDcial position of ¢h¢ charitable rompany &nd enable them io ensure ihai th¢ finaTh¢i81 siaiements comply with ihe Cornpanies Act 2006. They are a150 responsible for 5afe8uardin8 ihe a55dS of rhe rharitable company and hen¢e for thkingreasonablt steps forthe preveniion and deieciion of fraud and other irregularities. The TTusiees ar¢ respon5ibl¢ for thr moiThlcnan¢¢ and integrity tsf th¢ ¢orporate and firtancial iofomiation included on the ¢hari¢oble compaDy'5 website. Legislaiion in thc Urtit¢d Kingdom governingth¢ pr¢paraiion and disserninaiion orrinancial siaiemcnrs may differ from Icgi51ation in other juri5diciioDS_ Tbe TnL$tees have perniitted the auditorio underTrke whatever in5wion5 ki considers to be appropriate forthe purpose of enablin8 ihe auditor to give its audii opinton. So far as ¢ach of the Tru5tttS 15 awaT¢ at the time the Teport is approv¢d: Ihere 15 no relevartt audii inf0rn14i of the charitable company's al10T is unjware; aThd Ihe Trusrees have taken all 51eps that they ought to have taken io rnakc themselves aware of any relevant audir information ar to eslabli$h ihat the auditors aT¢ aware of that infomation. APPROVAL 23 kJvLQ To LL This report was approved by the Trn5te¢s on ...................... behalf by". .and signed on their Chainnan 10
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE ASSOCIATION OF JEWISH REFUGEES (AJR) Opinion We have audited the financial swements of the A5%Jciaiion of Jewish Rcfugee5 (AJR) for the year ended 31 December 2021, which comprise ihe Staiemcnt of Financial A¢iiviti¢s, the Balan¢¢ Sheet, Cash Flow Siattmcnt and notes io the rinancial statements. including a summary of si8nificanl accounting policies. The firyancial reporting fram¢work that ha5 been applied in rh¢ir prepataiion is applicable law and Unitrd Kingdom Accounting Standard& including Financial Reportin8 Standard 102 The FirtonctalReporli8$lodaydoPP[icQble inihe UK&ndRepublic oflrelond(United Kingdom Generally A¢¢epted A¢¢ounting Prac¢i¢e). In our opinion, the financial ststement5'. give a trut and fa view of the siaie of the rharilablc company's affairs as at 31 tkcembcr 2021 and of the eh&rifab5e company'5 nei nb)vement in fvnds, including the in¢ome and expendituie. for thc Y then ended: have been properly prepared in ac¢ordaTh¢e with Unjied Kin8dom Gencrally Atcepied Accouniing Pra¢ii¢e: and hav¢ beet) prepared in a¢¢ordanrx with the ffquiffrnents olth¢ Cornpanic5 Act 2006. BA5is for opinion We conducted our audit in accordance with Internaiional Standards on Auditing (UK) {ISAs (UKI) and applicable law. Our re$pon5ibiliiies underihose standards are fijrther described in the Audiior's responsibilitie5 forthe audit ofthe financial siarements sectiort of ourreport. We are independent of the ¢hartt2ble company in accoTdance with ihc cihical requirement5 tha¢ are relevant io our audii of the fjrsancial siatements in the UK, includin8 thc FRC'S Ethical S¢artdard. and we have IfLlled our other ethical responsibilities in attordan¢e with Lhese r¢quiremertts. We believe that th¢ audit evidence we have obtained is $uffi¢ieni and appropriate to provide a basis for our opinion. Conclusions relating to going coD<ern In auditirtg the financial 51ai¢ments. we have concluded thai the TrnMees' use ofthe going Concern basis Df a¢¢ouoiin8 in the preparlon of the financvdl sotements 1$ appropria Based on the work we have perfoTmed. we have not identified any maierial uncenainiies relating to events or condiiions that. ithdividually or collectively, may sigTrifJ¢ant doLrbt Ot? the charirable company's ability to continue as 8 80ing oncern for a period of at Icast twelve rnonth5 from whcn ihc financial statements art authorised for issue. Our re$pon$ibilLtie$ and the responsibiliiie$ of the TnLStees with re5pe¢r (o going concern are described in the relevant sert1 of this Tepon. Other information The Trusiees are responsible for the other infornation. The oiher infornmtion comprises ihe information included in ihe Twstees. Annual fieport. Our opinion on the financial 5tatement5 doe5 not cover the other infomiation and, excepi ro the extent otherwise explicirly $tatcd in our report. we do not expr¢ss any fomi of assurance conclusion ¢h¢reon. In Co[¢¢t10n with our audit of the fmancial siatemrnts. our responsibility 15 10 read the other infomiation and, in doing so, con5idtr whether the other inforniaiioo is maierially inconsisrent with the financial statements or our knowledge obtained im the auditor otherwise app¢arsto maierially rnissratcd. If we identsfy such rnateTial in¢onsisten¢ie5 orappaieni material misstaternents. we are Tequired to dct¢nnine whtiher thcre is a mai¢Tial missiaiemeni in thc financial statement5 or material misstatemen( of the o(her inforniation. If. based on the work we have performed. we Colde that ther¢ 1$ a material mi5518temeni of this other inftirniation. we arerequiTed to wepmthat fact. We have noihin8ior¢pon in Ihis rewd.
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE ASSOCIATION OF JEWISH REFUCEES {AJR) OpinroTrs other mtttrs pr¢J¢ribed by th¢ Comp•ni¢s Arf 2006 In our opinion. based on ihc work undertaken in the course of ihe audbl= infornjatiork siven in ibe TTU5t¢e5' Annual R¢port (which in¢orporates the straiegic repon and th¢ dir¢ctors' report) for ihe financial year for which the financial 5uiernenis are prepared i5 consistent with Ihe financial 5tatemcnt5.' and the SWdie8jc report and the diretiOTS' rejxsrt included within thE TruMees' Annual Report has been prepaTed in aecordanee wilh applicable le8al requiTements. Responslbilliles of Trusiees for the fithah¢il $tit¢m¢n15 As explained more fully in the TTu4ee5' resP1b11IIi statemenl Sd Out on page 10. th¢ TnJstee5 (who are also ih¢ diTe¢tOTS of th¢ charitable Company for the purposes of company law) are responsible for the preparaiiun of lh¢ fman¢ial stsiements and for being salisfied that they give a twe and fair view, and for such internal eonm)l as the TNsiees determine is necessary io enable the preparaiioTr of finan¢i?I siatemenis that are free from matErial mis5tatemenL whher due lo fraud oreTror. ID preparin8ihe financial staternenis. the TnLSes are re5pon5ible for assessing th¢ charitable company's abilityto continue 2$ a going COtrn. dis¢losiN& as applicable. matters r¢lated io going concern and using ihe going con¢em basis of a¢¢ouniing unless the TnLStees either intend to liquidate the charitable company or to cease operaiions. or have no realistic alternative bui to do 50. Auditor's r¢$ponsibilities for the •udii of tht fiA•ffjEi#) stsiem¢ffjts Our objecriv¢s are to obiain reasonable assura¢¢ oboui wh¢th¢r the fJnarKial statements as a whole are free from material misstatement. whether due io fraud orcrror, and 10 issue an auditor's reportihar include5 our opinion. Reasonable Assurance is a high level of assurdnce l¥Jt 15 not a guardnttt that an audii conducted in a¢¢ordance with ISAS (UK) will always deie¢r a material mi$statemeni wheft li exi51s. Missratemenis can orise from fraud or error and are considered material if. individually or in the a88re8att, Ihey could rcasoThably be expecd to influence the economic decision5 of ustr5 taken on the basis of these fJnaTrcial 5talemet)ts. Irregulariiies, in¢ludinB fraud, are instancu of non-compliatKe wilh laws and re8ulatJons. We design proc¢dures in linc wilh our responsibilities. ouilined above. (o dete¢t material misstatements in tespett of irrcgulariti4 including fraud. Th¢ extent to whi¢h our procedures are ¢apable of deie¢tirtg irregulaTilieg in¢ludiftg fraud is detail¢d below.. Based on our understandin8 of the charitable Company ahd ihc environment in whith li operates, we identified ihai lh¢ principal risks of non-compliance with laws attd regulations rclated to the legal and regulaiory requirements pertaining io regi#¢r¢d ehariiie$, and w¢ considcred lh¢ ext¢ni io which non-¢ompliance might ha¥¢ a material effect on the fLnan¢ial stsiements. We also considered those laws and regulaiions that have *{ d1cl Impa¢1 on the preparatiort of th¢ fjnancial sktements su¢h as the Comp3nies Aci 2006 and the Ch¥ities A¢1 2011, and other factors such a5 income lax and P8yToII lax¢5. We evaluated man8gement's incetttives aTrJ oprtlitieS forfrauduleni rnanipulEtionofthe financial $18ternEnt5 (incltsding the risk of override of controls) and detcrrnincd that the principal risks were related rnanual ac¢ounting journal5. Audit procedllres perfornled by the engagemem team Included: Inspeciing correwnden¢e with Tegulaiors and w authoriues; Discussions wilh managemeni in¢luding considernion of kno or suspected instance5 of non-tompliance wilh law5 and re8ulation and fraud. Evaluating Tn3nag¢ment's ¢oDtrols d¢signed w preveni and det¢rt Irre8Ltlariiies' IderttifyiDg and testing journals. in particular journal entries posted with Un1ul1 aceouTri tombinaiions, p05tings by unusual users or with unusual descripiion5' and Challenging a55umption5 and judgements made by management in iheir ¢rili¢al a¢coun¢in8 esiirnaies A fiJnh¢T d¢5criprron of our respon5ibiliiies for thc audit of the fanCial statements is lo¢ated on the Financial Rcportin8 Council'5 website at.. www.frr.OTS.uklaudiioNeswnsibilities. This d¢scription forn part of our auditor's repon. 12
INDEPENDENT AUDITOR'SREPORTTOTHETRUSTEES OFTHE ASSOCIATION OFJEWISH REFUCEES (AJR) Use of our report This Teport is made solely ro the charitable compan$ members. as a body, kn accor¢Jance with Chapter 3 of Part 16 of thc Companies Act 2006. (kn audit work ha5 been undertaken 50 that we rni8ht state io the ¢haTitable ¢omparty's members those matrers we ar¢ requhred io stsie ro them in an Auditorfs report and for no other purpose. To the fvllesi extrni pem)itted by law, we do not acceptorwume respon5ibil>tyioanyone otherihan the ¢hari18ble companyand rhe charitable company's m¢mbers, as a body. for our audit work. for this rewi. or for the opinion% we have fomkd. Adam Ha15ey (Scnior S¢atuiory Auditor) For and on behalf of Haysma¢inwe LLP. Statutory Auditors 10 Qen Str¢¢i Plac¢ London EC4R IAG 4 Juty 2022 13
THE ASSOCIATION OF JEWISH REFUGEES (AJR) STATEMEJYT OF FINANCIAL A1VITIEs FOR THE YEAR ENDED31 DECEMBER 2021 2021 Total Funds 2020 Total Funds Unrestrieted Fund$ Restrl¢i¢d Ftrnd$ Noies Income frnm: Donations and le8J¢ies 183.929 183,929 399.651 ChaTltablc a¢iivittes: Grnnts for welfare work Social and welfare aciiviiies her gfdnt irtcome 15 4.432.229 4,432,229 12,231 3,486,014 17.835 68.496 12.231 Subs¢ripiion5 43.356 43,356 58,410 Investrnents 386.072 386.072 355.659 Total 625.588 4.432.229 5,057.817 4,386,065 Expenditure on.. Raising funds 33.986 83.986 76.907 ChaTitable aciivilies.. Social and welfare a¢tLVltte5 Educational activiric5 3.126.364 548,955 3.676.351 6.802.715 548.955 6.043.750 381.039 Sub total 3.759.305 3.676.351 7.435,656 6.501,696 Clairn5 Conference oTh¢ad ¢ontribuiion (755,878) 755,878 Total 3.003,427 4.432.229 7.435.656 6.501,696 Net expenditure before gains on investrn¢nts (2.377.839) (2.377.839) (2,115,631) Net gains on investments 10 2.208.708 2.208,708 181.557 N¢t exp¢ndit¥rt and net movement i funds {169.131) (169.131) (1,934.074) RECOPICILIATION OF FUNDS FUND BALANCES BROUGHT FORWARD 23.867.982 23,807.982 25.802.056 FUND BALANCES CARRIED FORWARD 16 23.698.850 23.698.850 23,867.982 All gains and losses r¢¢ognis¢d in the yrar are included in the SthtCTnent of Finartcial Aciiviue5. All transaciions arc derived from coniiThuing 1vIlle9. The note5 on pa8¢5 18 - 28 fonn part of these financial staiements. 14-
THE ASSOCIATION OF JEWISH REFUGEES (AJR) STATEMEiffoF FINAIYCIALACTIVITIES FOR THE YEAR ENDED31 DECEMBER2021 CompAT&tive. for the ye*r ended JI December 2020 2020 Unrestricted Fund5 Restricted Fund5 Total Funds J¥otes Ineome from: Donations and kgacies 399.651 399.651 Chiriiabl¢ aciiviiies= Grants for welfare work Social and welfarE aciiviti¢s Other yant incornc 15 3,486.014 3.486.014 17,835 68.496 J7.835 68.496 Subs¢riplions 58,410 58.410 I$M¢nts 355.659 355.659 Total 900.051 3.486.014 4.386,065 Expenditure on: Raising fvnds 76.907 76.907 Charrtable &ctivities= Social and welfare activitl¢5 Educational activiiies 3,286,117 381.039 2.757.633 6.043,750 381.039 Syb total 3.744.063 2.727.633 6.501.696 Claims Conferet)tt overh¢od ¢ontribuiion (728J81) 728.381 Total 3.015.682 3.486.014 6.501.696 Nei expeoditure before gn$ on in¥estsnenl$ (2.115.631) (2.115.631) Net gains on invcstments 10 181.557 181.557 Net expenditurt and thtl TnoveThent in funds (1.934.074) (1.934,074) RECONCILIATION OF FUNDS FUND BALANCES BROUGHT FORWARD 25.802.056 25.802.056 FUND BALAPICES CAiiRIED FORWARD 16 23.867.982 23.867,982 15
THE ASSOCIATION OF JEWISH REFUCEES (AJR) BALANCE SHEET AT31 DECEMBER2021 CompaThy Nutnber: 08220991 2021 202 Noles FIXED ASSETS Tangiblc asse¢s Inve5nnen15 105.059 20,418,196 100,127 20.756.288 io 20.593255 20,856,415 CURRENT A&gETS Debiors.. due within one y Debtors.. due after one year Cash at bank and in hand 1.037.771 27.029 3.791.795 1.780,238 44.407 2.780.6j 4.856.595 4.605,245 CURRENT LIABILITIES: Credilors". amounts due within one year 12 11.751.000) (1.593.67JJl NET CURRENT A&SETS 3,105,595 3.011.567 NET ASSETS 23.698.850 23.867,982 FUNDS Unrestrir¢ed 23.698.850 23,867,982 Rtstricted 15 23.698.850 23,867,982 Approved and authorised for issue by ihe Tru51ees om ............ artd signed on their behalf by.. 2022 M Karp Chairman 16-
THE ASSOCIATION OF JEWISH REFUGEES {AJR) CASH FLOW STATEMENT FOR THEYEAR EIYDED 31 DECEMBER 2021 2021 2020 Cash flow5 from opertln2 a¢tlvlil¢s: Net cash {used in) OPErtlll8 #etivttles (5tt below) (1.809,382) (3.463274) Cash Ilows from investlR8 activities Dividend5 and intcrest from irtve5thients. rerttsl income atid other inve5tm¢ni incorne PuT¢hase of properry, plant and equipmeni Proceeds from sale of investments Purchase of invesmient5 Movement in ¢ash awaiting invesmi¢ni 386.072 (42.294) 3,251,529 (2.243.492) 1.468.762 355.659 (28,155) 5,471.577 (2.352.100) 11.043,906) Net cash provlded by Investitsg a¢fivities 2.820.577 2,403.075 Change in tash and t#sh equivalenis In the y¢•r .011.195 (1,060,199) Cash thd cash t91¥1}entS at the b¢g•Thniog of ¢h¢ y¢ir 2,780.6(K) 3.840,799 Cash aRd ¢ash equivaknts at end of th¢ year 3.791,795 2,780.600 2021 2020 Net ¢¥penditur¢ for th¢ ytar (per Statemertt of FiDanci%l Activ5des) (169.131) (1.934,074) AdlusimeDts for: Depreciation Disposal of iangli jle fixed assets {Gains) on investrncnt$ Dividends and int¢re$i (lllcreaseydecrease in debtOTS IncTeasel(dccrease) in crediiors 37.362 31,392 (2.208.708) {386.072> 759,846 157.322 {181.537) 1355,659) (49,911) 1973.4651 Nei eash used Fn operating ¢tiviti (1.809.382) (3,463,274) Analysis of cajh and ta5h equivalents 2021 2020 Cash in hand Noiice deposits {less than 3 months) 2.791.795 1.000,000 1.780.600 1,000.000 3.791.795 2.780.600 The notes ort pages 18-28 forn) part of these financial sLeMents 17
THE ASSOCIATION OF JEWISH REFUGEES (AJR) r40TES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2•21 ACCOUNTING POLICIES The principal aecouniing policies adopted judgem¢n15 and key source5 of ¢5rimation and un¢enainty io ih¢ preparaiion ofthe financial Siikments art 85 follows.. B#si$ of preparation The finan¢ial siai¢rnent5 have bEen prtpared in xcwdance with Ac¢ourtting and Reporting by Chariiie5.' Statement of Recommended Practice applicablc io charities preparing ¢heir attoutsts in a¢cordance with the Financial Reponing Stsrtdard applicable In ihe UK and Republic of Ireland (FRS 102)- Chariries SORP (FRS 102). second cdilion-october 2019, and the Companies Act 2006. The TTUStee$ hav¢ assessed the charimble company's requircrnents for ih¢ fore5ceable future. including the ¢harittble company'5 ability to operate during restriuions tmposEd be5¢ of Covid-19. and are ¢onfid¢tti thai suffJci¢nt funds will bc availabl¢ to enabl¢ operations to Coniinue at a sustainable level for a peri( of ai lea51 12 monihs from the date of approval of these financial siatemcnts. The charitable company therefore Coniinues to adopl the goin8 £on¢ern basis in preparing its financial ststernents. Thc Twstees Consider there are no maierial yn¢ertainties about the charitable company's ability to continue as a goin8 conccrn. The financial ateMen1% do include ihe adjustments ¢hai would result tf the charitsble company were wiabk w continue as a going conc¢rn. Ptsbllc b¢th¢fit eMti¢y The A550cioiion of Jewish Refugees (AJR) med5 the definiiiot) of a public benefit entiry under FRS 102. L¢g•l staty$ The Associalion of Jewish RefvBe¢s (AJR) is a ¢ompaAy limited by guar8ntr¢ withoui shar¢ capital. In the ¢v¢ni of th¢ charilab5e ¢ompanybeirt8 wound up. th¢ liability in respect of th¢ 8uarante¢ is limited w £1 per membcrof the charithble ornpany. Critltal aeeovnting judeements and esiim*i¢s In preparin8 thesc financial siaiemenrs, Ihc TnJceS have m8dc Jud8emet. esiim8t¢s and assumpiion5 that affect the application of the charitsbl¢ company's a¢¢oLmttn8 Pt)li¢ies aftd the reponed assets. liabilitiC5. incomc and expenditure and th¢ disclosuw ma(k in the financial siaTem¢n15. Esrim¢S and judgement$ ore ¢ontinually evaluaied and are based on hi$tQTi¢al ¢xperiet)¢¢ and o¢her factors, incI1n8 expecthtions offurnre event5 Ihat are believed io be reasonable under the circum5tsnce5. Income All incoming resources are included in the Sthtement of Firw¢¢ial A¢iivities when the chaTitable company has eniiil¢meni io in¢om4 it 15 prnbable that ihe incorne will be rtteived and the amount of in¢ome Teeeivable taft be measltred reliably. DOnlon$ we accouni¢d fw in the ar in which they art received. ixgacies are re¢ognised w ihr criteria of ¢thiement and probability are rnet, and the le8acy Can be quantified wilh reasonabl¢ ac¢urncy. In d¢iermining the arnotsnis recognised 2t the bal8n¢e sheet dale. the tee5 have re8ard to actual receiH5 subsequent to the balance shect dale iogether with any other evidenre supporting rffognition. Grants reco8nis¢d in full in the Mat¢m¢nt of financial activilies in the year in which the charirable company ha5 entitlrment io the income. and when Ihe amouni of income receivable can be measur¢d rcliably and there is probability of rtt¢iw. ncomc due from le8acLe5 subject to life tenancies is taken into account on the ierminaiion of those life ienancies. Inve51ment incotne L5 recognised on a receivabl¢ basi$ and when the amounis can be measured liably. Dividet)ds are recognised once the dividend has been declared and notification has been rK¢ived thc dividend is du¢.
THE ASSOCIATION OF JEWISH REFUGEES {AJR NOTES TO THE ACCOUNTS (roNtiTrued) FOR THE YEAR ENDED31 DECEMBER 2021 ACCOUNTINC POLICIES {¢ontinu¢d) Exptnd5ture Liabililics, includrng trrecovernbk VAT. are rc¢og7ised as expendiiur¢ as soon as there 15 a le8AI or con5trUCIiV obligation committing the ¢haritsble company io thai expendilllre and it is PTobabl¢ that settlement will be required and the amouThi of obligatiop can b¢ measured reliably. Rèi5ing fund5 comprises the *sso¢iatrd wilh g¢n¢rating voluntary income and the invc51ment manll8cmenl fee& Charitable tnditUre in¢ludcs all direct expcnditttye. including siaff $ts which are direcrly auributable to a¢iivili¢s as w¢ll as 8rantcxpeoditure. Support costs. whi¢h include governance t05t¥ apportioned io charitabl¢ activiiies on rhe basis of lim¢ allocaTion of Siaff performing support fun¢tions. A summary of support eosis is provided in note 7. Support costs have beenailocaied Eelw¢en governance coAs and other5UPPOrt costs. Gov¢rnan¢e a¢tivilies ¢omprise organi5ational administrdtion and ¢omplianc¢ with constitutional and staNtory requiremenrs. Costs includ¢ direct COSIS of exiernal aLLdit and professional advice includin8 legal fe¢s. Grants payable are chaT8ed to the Stalernent of Financial Activilie5 in the year in KYhi¢h the offers of such 8rat)ts are made. Employtt bEnefits Short term b¢nef Short ienn benefits includin8 holiday p3y are as an expens¢ in the period In which the service is received. Employee iermin•tion benefits TeTMinatitin benefits ate for on an accnols b&sL5 •)d in line ¥th FRS IO2. Pension schemt The AJR operates a defined contribution pension scheme for the benefit of it$ emplojtes. The a5sei$ of the scheme arc held independently from lho of the rhariiabl¢ ¢ompany in an administered fvnd. The pension ¢o#s ¢harg¢d in the find10 slatements rewesent the contrtbutiolls P3yable during ihe year. For¢igo currenty translation Th¢ Charitable company's furt¢tional and pre5eDwtion currency is pound5 51erling. Monetsry asset5 and liabiliiie5 denomiThated in foreign currencie5 are translated inio sterling ai the rnies of exchange nJliDg ai the balance $heet daic. Transactions in forei £urrtn¢ie5 are recorded ai the rate Tuling at the datr of th¢ transaciion. All differences recOlsed in the Stsicm¢nl of Financial Atliviiie5. Operating I$¢5 Operating lease refttals 4re Charged io the Swem¢ni of Financtal Activities ¢)n a 5traighl-line ba5j5 over the tern) of (he lease. TAnglble fix¢d %55ets Tangibl¢ fixtd assets ar¢ accounted for at histori¢ com less a prnvk5ion for depreciaiion. Expcnditurc on equipmtnt in eK¢e5s of £300. with a usabl¢ life of ai leall 4 Yea LS CaPITalised as tan8ibk red asse. Depreciation Depre¢i&ion is l¢Ild so as w write off the ¢oM oftsngible fix¢d asw5 as follow5.. - Office cquipmeThi Websiie Ixasehold improvemenis 25% strdight line 25% straight line O¥eF life of ihe lease 19
THE ASSOCIATION OF JEWISH REFUGEES (AJR) NOTES TO THE ACCOUNTS {eoniinu£d) FOR THE YEAR ENDED 31 DECEMBER 2021 ACCOUriNG POLICIES (eontinued) Investmen15 Investtnents are a form of ba51¢ finanrhal in5trumcnts and are inilially Showm in ihe finan¢ial $taiemeni$ ai markei value. Movernents in the market valu¢$ of inyesvnents are showm as unrealised Bains and I¢5 in rhe Statemeni of Financial A¢tivitie5. Profrt3 and losses on the r¢alis21ion of iDvesm)¢DIS ar¢ Sho a5 realised gains and losses in the Statement of FinancÈal AciivLties. Reali5ed gains and 1055es on inve$tmen¢s reflect the difftr¢n¢e between sale5 pro¢eed$ artd the opening carrying values or their purchase value if acquired sub5¢quent to the first day of the financial year. Unrealised gains and lossesare ulculaied as lh¢ dIffenCe beNeen the fair value ai the year end and theircaTrying value. Realised and unrealised investmeni Bains and1055e5 arc combined in thc Statemeni of Financial Activities. Finxn¢ial Instruments The charitable company only has finantkal as$ and fmancial liabilities of a kind thai qualify a5 basic financial instTumeDt$. Basic financial InstrwnerJ in¢ludithg trad¢ and other debtors and creditors, are initially recognised ai tTansa¢iior5 value and subsequ¢nrly measuffd ai their 5¢tt1¢meni value. DebtOTJ Trade and other debtors are reColS¢d ar ihe settlemrrtt amouni dLke after any ¢rad¢ discount offered. Prepaytwnts are valu¢d at th¢ amount prepaid tlei of any trade discounts due. Cash it bank and In h*nd Cash at bartk cash irt hwd includes C and shott iemi highly liquid investments. Creditor5 and provision5 Creditor5 and provision5 are recognised where the charttable ¢ompatty has a preseni obligation resulring from past ewiithatwill probablyresult in the rran5ferof funds io athiril parry and ihearnount due io settle the obligation Can be measured or estimai¢d reliably. Creditors and provisions ar¢ nonnally recognisedat thEir Settlement amounr after 311owin8 for any trade discounts due. Funds General funds are unresrricted fvnds whith are availabk for usc * the discretion of the Trum¢ in fijrthtrartce of lh¢ general obj¢ciive5 of the tharitable wfflpany arAI which hve not been designaied for uher purposes. Re$trict¢d funds ar¢ fvnds vihich are to b¢ used ITh xcordance with specific re5triction5 imposed by donors. -20-
THE ASSOCIATION OF JEWISH REFUGEES {AJR) NOTES TO THE ACCOUNTS Itontihued) FOR THE YEAR ENO£D31 DECEMBER 2021 DONATIONS AND LEGACILS 2021 2020 Domatiorts L*gacres 13.433 70,496 238,511 161.140 183.929 399,651 SOCIAL AND WELFAR£ AcfiviTIES 2021 2020 Meals on Wheels Events and outings AJR Journal 7.082 1.535 3.014 14.509 3,326 12,231 17.835 INVESTMENT INCOME 2021 2020 Int¢rESt receivablt Diwdends 34.446 351.626 38,738 316.921 386,072 355.659 OTHER GRANT INCOME 2021 202 UK Gov¢rnrnenL Job Reieniion Scherne 68.496 68,496 21
THE ASSOCIATION OF JEWISH REFUGEES (AJR) NOTES TO THE ACCOUNTS (contiRutd) FOR THE YEAR ENDED 31 DECEMBER 2021 EXPENDITURE Other dlreet eosts Suppor¢ C051s Dlrttt staff Grints 2021 Social and welfare Day Ccntre Meals on Wheels Outreach 0up$ AJR Journal 970.214 4.397.573 571.401 8.806 12,067 7.636 81,070 595.327 3,731 7.555 23.595 15.231 6.534,515 12,537 44.987 114.375 96.301 25 J65 83.144 BeDefKi•ry servi 1.078.723 4.397.573 680.980 645.439 6.802.715 Edu¢¢lon#l •¢tlwliies 194.553 307.913 28.710 17.779 548,955 Cost ofr•lsing funds 78.261 5.726 83.987 1,273276 4.705.486 787.95 1 668.944 7.435.657 CompartiYe her dir¢et eosts Support osts Dirtet s¢ff Grants 2020 Social and welfa Day Centre Meals OTh Wheel$ Outreaeh group5 AJR Journal 939.073 3.675.427 522,594 17.389 24.972 13.577 63.868 577,057 4.396 8.395 25.645 17,331 5.714.151 21.785 59.168 143.44? 105.199 25.801 104.225 24.0 Beneficlry strvites 1.093.099 3.675.427 642.400 632.824 6,043,750 Educxtionil activities 213,888 92,246 54,552 20,353 381.039 Cost of r*i$in# funds 70.713 6.194 76,907 1.306.987 3.767.673 767.665 659.371 6,501.696 Welfar¢ activities in¢lude direci payments to benefieiaries amounting to £4.363,36912020.. £3.646.109) and a gronl of £35,600 {2020.. £35.000) io Belsize Square Synagogue ro support it5 so¢ial work PrOamme directed ai Holocausi survivors and refugees. Direct costs On edu¢atioftal activities of £307.913 {2020.. £92246) tnclude 8rants a5 explained in ihe Trustees, Report. Support C0515 include fees of £12.450 +VAT payable io awjiiors lor the sranrtory audit (2020: £11,800 + VAT). -22-
THE ASSOCIATION OF JEWISH REFUGEES (AJR) NOTES TO THE ACCOUNTS (eorttitsutd) FOR THE YEAR ENDED 31 DECEMBER 2021 EXPENDITURE (CoDtlnued) ANALYSIS OF GRANTS Grani$ to instittytio Gr8nts to individuals 2021 Welfare progrdmmes Educational actLVltie$ 35.600 307,913 4,361,973 4.397,573 307.913 343.513 4.361,973 4,705,486 CompArative Grants to lo$iitu¢ion$ Grnnts to Individuals 2020 Welfor¢ pro8rnmme5 Educational activities 35.OQO 92,246 3.640,427 3,675,427 92.246 445.561 3.640,427 3,767,673 SUPPORT COSTS Meals Co$1 of raising fund$ Social & Welfare Day CeAtre Out- r¢ae AJR Journ•l Education Wheels 2021 2t)20 Prcrnise5 38296 1.040 2,003 878 4.078 165 46.460 42,905 orri¢e admini5tMion Comrnunicatsons & public Telaiiotts Governance 469.650 2.736 4.476 16.174 9.285 9.793 4.069 516,183 490.484 48.036 39.345 974 22 1,947 92 5.193 224 4,869 200 2.597 1.310 1.298 193 64,914 41.386 80.082 45.900 Total 595.327 3.732 7,555 23.594 15.232 17.778 5,725 668,943 659.371 C05t of r¥isln8 fuhds Compirttve Sotil & Welf*re DAY Cethtre AJR Journal Educitlo Whe¢l$ m¢b 1020 Premise5 31.357 327 1237 2.241 l.510 6.034 42.905 Office adminisrraiion comm4nico1ions & public relations Governance 442.546 2.818 4.611 16.663 9.565 10.089 4.192 490.484 59.261 43,895 1.201 49 2.402 144 6.407 335 6.6 250 3203 1.026 1,602 201 8Q.082 45,900 Total 577.059 4.395 .394 25.646 17.331 20.352 6.194 659,371 Support Costs are allocated to charitable activiti¢s besed on time allo¢ation of smff perforniing 5uppon fvn¢tions.
THE ASSOCIATION OF JEWISH REFUGEES (AJR) NOTES TO THE ACCOUNTS (eontinued) FOR THE YEAR E14DED31 DECEMBER2021 ST AFF COSTS 2021 2020 Wages and salaries Social se¢Lwiry COSIS Pension costs 1.736,194 173.564 137.104 .725.373 174.539 136.437 2.046.862 2.036.349 Average numb¢r of peYson5 employed durin8 thr year wa5 51 52 2021 2020 The number of employees whose ¢molumeDi$ in the year ¢xceeded £60,000 was.. £60.01)0- £69.999 £100.000- £109.999 £120,000-£129.000 Pension contyiburions paid on behalf of ihes¢ ¢mployee5 amounted to E20.604 (2020= £23.532). The aweg*¢ remuneraiioD, in¢ludiThg pensiijn contributnS and social security ¢OS15. of the key personnel was £298,631 (2020.. £267.494). The TnJstee$ re¢etved no emolumeNs durin8 the year Dor any reimbursed expen5e5 (2020.. nil). TANGIBLE FIXED ASSETS Short le15ehold proptrty Wtbsite Office equlpment Total Cost or v•lu¥tion At l January 202 5 Additions Disposals 100,807 21.670 102.598 42.294 159.224) 225,075 42,294 (59,224) At 31 December 2021 11)0.807 21.670 85.668 208,145 Deprttlation At l January 2021 Charge for the year Di5P05als 42.465 10.081 14.964 5.418 67.519 21.864 (59.225) 124.948 37.303 {59.225) At 31 December 2021 52.456 20.382 30.158 103.186 Net book vxl At 31 De¢embEr 2021 48.261 1.288 55.510 105.059 At 31 DecemEer 2020 58.342 6.706 35.079 100.127 -24-
THE ASSOCIATION OF JEWISH REFUGEES {AJM} NOTES TO THE ACCOUNTS (eonlin#ed) FOR THE YEAR ENDED31 DECEMBER202J IV. FIXED ASSET INVESTMENT5 2021 21120 Quoted investmpNt$ Markel value at l January 2021 Additiorts Dispo$als Snve5tmcnt gain5 18.793.962 2.343.492 (3.251,5291 2,208.708 21.731,884 2,352.100 (5,471,578) 185.55? Sub-iotai= quoted inve5trnents C•slL h¢ld wilb involwent rnnagers 19,994,633 493.563 18.793.963 1,962.325 M•rket vlu¢ 1¢ 31 De¢tmb¢r2021 20,488,196 20.756.288 Historical etsst at 31 December 2021 14,287.338 15.455.286 DEBTORS 2021 21120 BAl•ntes dme witkin one ye*r Prepayments Attrtse<l l¢8actes Accrued income Oiher deb¢ors 87,269 120.2J5 826.545 3.722 69.552 110,735 1.593.641 6.310 1.037,771 1.780.238 BAl8nees due ltt more than one yur ChariLablE loan5 (see below) 27.029 44.407 1.064,8CKJ 1.824,645 Legaey nol recognistd as #tcrued inetsmt The charitable company has been notified thai li has an inter¢si in o legacy subject TO the creation of a trust arrangement which will also benefit another beneficiary. with the r¢maining es¢ate being shared beetn the charitable conjpany ind 8 hffther beneficiary. While ihe value of funds is e51imattd at £lm. the split of ihe5e b¢ThefilS, the creaiion of the mjsi and ihe manner ond liming tsf their distributions are not knowrt ar ihe date of these financial swemenfs. Ac¢ordill8ly. no income or &85et has been reco8Di5ed in ihes¢ financial stsiemen ChaTltable108ns In limited ¢1m518n¢£$. th¢ ¢baritable ¢ompany advarK¢5 sums to necdy individua15. interest free. {5ubjeci io a fornial ¢harg¢ In relation 10 larger loans) with repaDenl on tenns agreed in WTiiing and approv¢d in advance in Cach case by Ihe TN$tees. 25-_
THE ASSOCIA TION OF JEWISH REFUGEES (AJR) NOTES TO THE ACCOUNTS {¢onlhntsed) FOR THE YEAR ENDED 31 DECEMBER 2021 12. CREDITORS 2021 2020 Arnoynts falling due wlthin ont year Trade ¢rediiors Aectwals Other taxe$ and so¢ial security Grants payable DefeTred income (see below) 1.250.030 174,077 49,685 253,125 24.083 845.279 346,638 50.059 327.619 24,083 1,751,000 1.593,678 Deferted incom¢ r¢latrs io subscripiioTh incorne and grani income rcccived in advanee. The amounts defrrred each yeor are rel¢ased io the Siatemeni of Financial Activities in the following year. IJ. RELATED PARTY TRANSACTIONS Mr J Srrau5s, Ihc husband of Mrs P Strau5% is a member of the Board of Belsize Square Symagogue. which has been ranted £35,600 {2020.. £35,000) towards the c05t of its social Work. Mr M Newman OBE is a Directorof the Conference on Jewish Mater1 Claims Against Germany. Inc which granted £4.432.229 (2020.. £3,481.1151 to the charithble company for providing Sllpr in gTants to lis members and a$ a eontribution io ihe fi)nding of its welfare lIvi11¢s. Mr FA Harding is th Trustee of the Wiener Holocaust Library. 4¢h received a grant of £IOO,000 which was a8T¢ed in 2021 and treated as eXndiVe in this year's accounts. 14. OPERATING LEASE COMMITMENTS Th¢ thariiable company's firture minimum opeTaiirtg lease pat$ are as follows.. Buildimgs 2021 O¢h¢r 21121 Buildlngs 2020 Other 2020 Within one year Between two to five years Over five years 96,778 454.861 .334 3,669 93.498 385.449 32,978 1.127 4.246 551.639 5,003 5ll,925 5.384 26-
THE ASSOCIATION OF JEWISH REFUGEES (AJR) NOTES TO THE ACCOUP4TS (continued) FOR THE YEAR ENDED 31 DECEMBER2021 IS ATEMENT OF FUNDS Balan<t I J•Dury 8al•nce 31 December IDeoThe Exp¢Ddkure Gln5110sses inv¢stments 2021 2021 Uftreslrlcledfdl Generdl funds 23,867,982 625.588 (J.(X13,428) 2208,708 23.698,850 Resirlctsdf#nds Claims Conferenc¢ URO 4,434.54J C2.314) (4.434.543) 2.314 4.432.229 (4.432.229) Comparative Balante 1gnc¢ 31 Dectmbtr Expenditure G¥ih$llos5es Investrnents 2112• 1020 Unres¢riciedlunds G¢neTal fijnds 25.802.056 900.051 (3.015.682) 181.557 23.867,982 Claims ConftreThce URO 3.481.115 4,899 (3,48l,11S) (4,899) 3.486.014 {3,486.014) R¢strlcied fund5 Cloims ConfErence - the charithbl¢ ¢ompany received or treats as rKeivable grant5 frorn and through the Claims Confereftce during the year amouniing to £4.434.543. This represents a source of grant incorne which wa5 distTibuted in accordance with the terrns of the grdnis to qualifying needy individuals for Slfi¢ social projects that are in line with the aciiviiies of the charitable company. They also a55iSI with the welfare PTOgTammcs run by the ¢harit4ble company dirccred towards gualifying beneflciaries and to contribute io the cost5 of runnin8 those prOamMe5. URO - Ihe charirdble company received or treats as receivable n¢5 from URO during lh¢ year ¢0 distribute to qualifying needy individuals to meet needs ouiside of the 5pe of Claims Conference grants. and its support for specific social projects of the Charithble company. -27-
THE ASSOCIATION OF JEWISH REFUGEES {AJR) NOTES TO THE ACCOUNTS (tontinu¢d) FOR THE YEAR ENDED 31 DECEMBER 2021 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS Uarestri¢t¢d Rutricted fynd$ Total funds 2021 Tan8iblt f2xed a55ets Investments 105.059 20.481.196 4.856.595 (1,751,000) 105.059 20.488.196 4,856,595 (1,751.000) Cuttet)i assets Total liabilities Total net a$5eis 23,698.850 23,698.851) Compar•ilve Unrestritted funds Re5tricied fwnds TDl•l funds 202 Tan8ible fixed Investrnents IiW.127 20,756288 4.605.245 11.593.678) 100,127 20.756.288 4,605,245 (1,593,678) C¢ asseis Total liabiliries Toial nei assets 23.867.982 23,867,982 17. PENSION SCHEME The charitable company contribuies io ihe personal pension schemes of ihe employees. Contribuiions payable ar¢ charged to ihe St8iemeni of Financial A¢iiviti¢s. The ioial ¢ost of penSLons incwred by the charitable company was £137.104 (2020.. £136,437). No amoun15 wcrc out5ttnding to bc paid a5 at the year eod (2020: nil). -28-
THE ASSOCIATION OF JEWISH REFUGEES (AJR) ACKNOWLEDGEMENT The Tn1¢¢$ woukf lik¢ ro acknowledge ihat." Social services for Nazi victims have been supwed by a grant from the Conference on Jewish Material Claims A8ainsi Germany. Claims Conference niy)Jni ni?yi The C.onfereiKeon Icwish Maicrial aaims A¥ai11st GermAny -29-