IAJR
The Association
of Jewish RefLigees
THE ASSOCIATION OF JEWISH REFUGEES (AJR)
FINANCIAL STATEMCINTS
FOR THE YEIAR EINDED 31 DECEMBER 2022
Charity number.. 1149882
Ctsmpany Number.. 08220991

THE ASSOCJATION OF JEI WISH REFUGEES {AJR)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED31 DEICEMBE6R2022
CONTENTS
P#ge
DETAILS AND ADVISORS
TRUSTEES, REPORT
2- 16
STATEMENT OF TRUSTEES, KESPONSIBILRTJES
17
INDEPENDENT AUDITOR'S REPORT
18-20
STATEMÈN'f OF FINANCIAL ACTIVITIES
BALANCE SHEET
23
CASH FLOW STATEMENT
24
NOTES TO THE FINANCIAL STATEMENTS
25-35
ACKNOWLEDGEMENT
36

THE ASSOCIATION OF JE4 WISH REFUGEES (AJRI
DETAILS AND ADVISORS
FOR THE YEAR IINDED 31 DECEMBER2022
STATUS
Tlie Association of Jewish Refugees {AJR) is a registered charity and Companyi limited by guai'antee, and is registei'ed in
England and Wales (082209911. 11 was iiicorpoi'aled aiid Set up by a Meilloranduiii of Association on 19 Sepiember 2012
atsd amended by special I'esolution on 15 Noveinber 2012. The ch8rilable company conimenced &ctivities on l January
2013.
ORGANISATION
The charitable company's st¥ategy is set and inanaged by the Twstees. who are also its directois for the purposes of
ompany law. The Ti'ustees at the date of this report are..
Mi's E Angel
Mrs G Glasstnan
Mr F A Hai"ding
Mi. J Hockinan (appointed 14 March 2023)
Mr D ICalm8n
Mr M Karp OBE (Chair)
Mr A C Kaufinan MBE
Mi'5 M Kingsley
Mr S Koii
Mr J Marks {appointcd 14 March 2023)
Mi. A Spiro OBE
Mrs P Strauss
Mr M J White
REI GISTII RED OFFICE
Winston House
2 Dollis Park
Loiidon
b13 IHF
Charity regislratioD number- 1149882
Company registration number- 08220991
BANK£I RS
CAF Bank Liniit¢d
Kings Hill
W¢st Malling
Kent
ME194TA
ITrIVESTMENT MANAGERS
Rathbone Investinent Manageinen¢ Liinited
8 Finsbury Circus
London
EC2M 7AZ
Ruffei. LLP
80 Victoria Street
London
SWIE5JL
AUDITORS
HaysinaLintyi'e LLP
10 Qiieen Streei Place
London
EC4R IAG

THE ASSOCIATION OF JEWISH REftUGEEÉ S (AJR)
TRUSTEES, REPORT
FOR THE YEIAR ENDED 31 DECEMBlIR2022
The Trustee5 present fheir report and the audited financ￿al 5tateinents for the year endcd 31 December 2022, which show
the st&te of tlie chai'itable company's affairs at that date and th¢ incom¢ and expeiiditure foi. the yeai. theii ended.
STRUCTURE, GOVERNANCE AND MANACKMENT
Tru5tee5
The followÉng served as Ti'uslees of the charitable ¢oinpaiiy during the year and reinain in office unles5 otherwise slated as
at the dale this repoi't was approved=
Mrs E Angel
Mrs G Glassman
MrF A Harding
Mr D Kaljnan
Mr M Karp
Mr A C KhUfi￿an
Mi's M Kingsley
Mi. S Kon
MJ" A Spiro
Mrs P StTauss
Mr M Wiite
15,6,7)
(8)
(1,2.3,6,7)
(7,8)
(5,6,7)
15,6.7)
(5,6,8)
12,4,5,6,7)
(2,4,6,71
(1,4}
I: Meinber of Audit and tosk com￿lttee 2.. Meimbei. of the Investment Cominittee 3.. Meinber of Finance Cominittee
4: Meinber of Self-Aid Cominittee 5.. Meirb¢r of Gi?nig foininittee O.. Member of Stiategy Committee
7- Meinber of Noininatiolls Coimmittee 8: Meinber of Next Generatiot) Loimmittee
Trustees are appointed foi. a pei'iod of four yeai"s, after which they &te IEquiied to be re-elected by a vote of membci"s a(
the following Annual Election Mteting should they wish to continue to sei'vc. Tmstees c2ft sei've 8 Inaxiinuin of three
t¢rms.
New Trustees are required to undei'take an induction pr0gi.aml￿e relating to the aiims and objectives of thc cl)aritable
company, the background of its beneliciaries and tlie systems in place to deliver the seivices of the charitable coinpany.
Each Trustee will be required to demonsirate siiiiable knowledge of the role and of charity (rusteeship by experience oi. by
training pi'ior to, tsi. shortly aftei.. appoinknnent.
The stiategy and policies of the chai'ilable coinpany air decided by the Tru5tets' tlie i'e5ponsibility for the ex¢¢ution of
those policies 15 delegated to the staff led by it5 key illanageinellt conslsting of the Chief Executive, Mr. M Newmall OBE,
supported by the Finance DiTectoi', Mr. A DaniEls, who repoit i'egularly to the Ti'uslees.
The pay of the Chief Execlltive, the Finance Director and all staff i5 reviewed annually and noi'mally increased in
accordance with average earnings to J'tflect a cost of living adjustinent and to ensure all employees are ren)llnerated at not
less than Ilie national living wage and coinmensurate with tl)e market rate for theii. respective roles. The chai'itable coinpany
takes suitable pi'ofessioDal guidance ill die detciinination of the re1￿unCl7lIon of its key inwiageTnent.
The Trustees give active coiisidei'ation to the inattEr of TIu5tee succession atkd where w)55ible co~opl volunteei's with
suitable knowledge and expeyience to assist thein as membeis of coinmittees considering inatters relevant to their skillset
and qualifJcatlOIls as a preEuisor to P055iblE full Trustee board IneEnbership. Since 2019 the TTl15teEs have enhanced the
governance regime by creatii)g fui'iher coinmittees of Trustees and suitable volunteers {co-opted meiiibei's) io manage the
affairs of the charitable coinpaiiy. These I'einain in place and cover..

THE ASSOCIATION OF JEWISH REFUGECIS IAJR)
TRUSTEES, REPORT
FOII THE YErAR ENDE031 DC4CF.MBER 2022 (Continued)
STRUCTURF., GOVERNANCE AND MANAGfM£I P4T leontinued)
Audit and Risk
Appoints external auditor, oVe￿ee$ audit pi'ocess, oversees statutory and I'egulalory
reports, mollitors risk m&nagement
Monitors financial performance. oversees budget and asset manageinent
Oversee5 and approves grant5 made foi. cducational purposes
Ovei'sees 8nd approves llse of coinpany ￿ndS foi. cliatitable grants to individ￿al
beneficiaries
rÉnan¢e
Grants
Self . Aid
Stixtegy
Nomillations
Dii'ects long teiin strategy ofthe charitable company
Approves the noinination of new Trustees and coininittee Ineinbers
Sets investment poli¢y' appoints. diiects and monilDf5 PTofe5sional fund managers to
tnanage the Inarket investments of the charitable company
Investmeni
Next G¢nerdtion
Devi5e5 tactics and plans events, activities and projects to engage with descendants of
l.lolocaust refugees and survivors.
Risl(s and internal colltrols
The TTUStees are responsible for ensuring that effective and adequate risk inanagetnent and intemal conti'ol systems are in
place to Inanage the majoi. I'isks to which tlie chai'itablt coinpany is exposed. It ca￿leS this out by monitoi'ing the
effectiveness of the risk manageinent frainework. The frainewoi'k is designed to 511PPOrt informed decision inaking
I'egai'ding the risks that affect the abilirj. of rhe chai'itable company to achieve its objectives. The fi'ainework is designed to
manage, rarhei. Ihan eliminate, the Tisk5 to the charitable coinpany's objective5 and to pi'ovide r¢asoTrable, but nDt absolute,
as5U18nee against Inaterial iiiis-statement or loss. Wiihin the fiamework, the principal risks and uncertainties which have
been identified. together with the action5 taken to mitig&te thein, Èle as follows=
Ris1( adtntified
Action taken to miti
ate the i'i5k
Investment
Investii)ents made by the charitable coinpany are not
properly managed or pei'forin pooi'ly which leads to &
reduction in fundiiig that would bc available to suppoit
the obje¢tives of the charitablc company.
Use of approved investtnctjt counteTparties within
approved fin<iii¢ial liinits coupled with a cleai. iuvestinent
policy focused delivering i'etui'ns and funds for the
charitable coinpany'5 strategic objeetives. Tlie Investment
Committee regularly reviews tlie investtn¢nt portfolio
together with the investment managers and reports
regulayly to the Trustees.
Claims Coiiferellc¢:
The charitable company s(iffers a reduction in funding
fi'oin th¢ Confeirnce oil Jewish Material Clain)s
Against Geriiiany Inc. ("Claiiiis Confei'ence"). which
leads to lowei. ￿nding available io both the ¢hai'itable
cojnpany's beneficiaries and those of otlier agencies
and chaj'ities within the UK Utnbrella Group
("A£ellcies") which the charitable coinyany leads.
A constant and constructive dialogue is maintained with the
clai1￿S Confei'ence to ensure that intej'nal controls and
compliance meet the conditions imposed, CO￿pIed with Iioth
statutory audit and Claiins ConfeJEnce audits.

THE ASSOCIATION OF JEWISH REFUGF.FS (AJRI
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECE4 MBER 2022 (Continued)
STRUCTUIIE, GOVERNANCE AIYD MANAGEMENT (eontinutd)
Risks intti'nal eontro15 {continlledl
Risk identified
Action takcn to IriÈti
ate the risk
The inability to recover grant funding made by the
Charity to beneficiai'ies and to the Agencies,
beneficiaries in advance of receipt of Inonies from the
Claiins Conference.
Conts'ols are in place (including regulai. liaison}, coupled
with auditstyle I'eviews, over Ilie Agencies, own beneficiary
docuinentation to ensure that Claiins Conference conditions
ale in¢t. Ali indeinnily (IrrangtmEnt is in place lo protect tlie
chai'ilable COEnpany itL the event ihat the Agencies do not
comply witli the relevant conditions. In March 2022 tlie
bilateial agreements Wlth the Agencies were reviewed,
pdated and ie-5igntd and afford the charitable coinpany
greater protection fi-oin the risks in disbuiEiiig Claims
Ccpnference Fund5.
Gi?ntS
The charitable company is IEnable to siipport its
objectives because of a failure properly to control
giants and awards Imadc frosn its own fi]nds.
Controls (botli budgetary and IN terms of objective) are in
place tD ensuir proper scrutiny of all applications made to
Ihe charitable col￿pallY for support (togethei. with
appropriate follow up post award), wheihei. these are in
respect of Educatiotlal projects or financial awards fol
beneficIar￿eS
beyond that provided from Claiins
Conference monics.
R¢put4lion
E,vents which may adversely alyect Lhe charitable
coinpany's reputation and operations. These could
ill¢lude a serious data security breach from a cybei'_
attack or non-coinpliance with data pi'otectiot) laws, a
serious fraud, an isS￿e related io Ihe chaiit(ible
company's hiimai) I'esoui'ce pi'actices and behaviokirs,
oi" a significant health and sgtfety or safrguardtng
incident. Other risks incliide ihe failure to attyact,
develop and retain talented staff and the inability to
recruit sufficient numbei's of voluntee1¥.
Policies and practices are set and tnonitored by senior
Inanageinenl and the T2'ustees, i￿Cludillg an organisation
wide risk Jna]i&geinent progyainme, whicli includes anti-
fraud processes and controls as well as coinpreliensive
ti'aining and awarei)ess prograinines for all staff. This
includes data proteetion and safegLiardin8 training and
reini]]der5.
Inforniation security policies and procediires are in pl&ce
which include security patching, vulnerabiliry scannin
peneti'ation testing and the use of anti-viru5 50ftware.
Dedicated specialist iesources are iised for safeguai'ding,
data seciirity, he81th and safety.
Talent management, volunteer acquisition and management
together with succession planiiiiig progi?minEs are in place.
Regular reviews al'e undertaken OF reci'uitment and
resourcing processes with bcnchmai'king undertaken of
eompensatioii across kcy disciplines,

THE ASSOCIATIO.Y OF JEWISH REFUGEES (AJR)
TRUSTEES, REPORT {contiiiucd)
FOR THI YEAR ENDED 31 DECEMBER 2022
STRUCTURE, GOVERNAIYCE AND MAIYAGEMINT (continutd)
Connected parties
The chai'itable company has strong links with the following organisations with which working relationships have been
established or continued-
iiisation
Work hnd a¢liviti¢5
Nature of relatiot]5hi
Claims Conference
Negotiating with Germany and AL15tria ot
behalf of Holocaust sllrviYor5 and
refugees.
The Chief Executive sit5 on the Board
of Direcioi%.
United Restilution Organisation
Provision of funds to UK It￿idC￿t victi111S
of Nazi oppression of Gennan origin.
Strong ongotng rtlalion5hip
(URO)
Wiener Holocaust Libiary
One of tlie world's leading and IT]ost
extensive ai'chives on the Flolocaust and
N8zi era.
One Trustee is a member of the Board
of Trustees, one Trustee is a imetnber
of the Endowment Ti"ust and one
Ti'iistee is Joint PresideTrt.
Holocaiist Educaiitsnal Trust
Works to ensiire that people froin every
backEround ale educated about the
Holocausi.
The Chaii. of Trustees is a Triistee of
HET
IHETI
Details of ti'ansactions with these organisations ale set out in the notes to the accounts.
OBJEcfivES, ACTIVITIES AND PUBLIC BENEFIT
The main objectiyes of the charitablE company are lo provide support to its beneficiaries who aTe Jewish survivoi's of, and
refiigees froin, Nazi oppression and thell. dependent5 experiemcing illness an(f frailty. to relieve theii. fin&ncial distress. to
oi'ganise social activities and to provide grants to promote educatEon about, at]d Coinineinoration of, the Holocaust and
related Inatters.
Diii"ing the year the TT115tee5 gave due regard lo the guidance issued by the Charity col￿1￿1$$10n on the subject of public
benefIt and were salisfied that these requirements wei'e fvlly met.
During the year, the charilable coinpany provided and funded a l.ange of servsces to enhance the w'elfaie aiid tnaÉnlait] the
cultural iraditions and interests of forjner Jeivish Jefugees froin Nazi oppression, In (Iddition, it pi'ovided fuiids to those
fonner refti8Ee5 in need, funded furthei. recording of life hisiories of surviving refugees and inade educational grants in
relatioii to Holocaust stiidies and other ￿'an(S io perpetiIate awarelless Df the Holocaust and the sufferi]]g il caus￿. The
chai'itable coiiipaiiy lias inLr¢dsed ils commitment to the running of conferences and seininars on matters relating to the
Ineinorialisation of the Holocaust.
The seJ'vi¢e5 provided included advice and guidau¢e on welfare benefits, foTEign pension entEtlem¢nt5 and reparations.
volunleei's vi51ttd th95E who were housebound. providing companionship and to assist with practical Inatters and a social
seivices depa￿￿eTht pi'ovided comprehensive welfare sei'vite5 and assessed members, needs in their liomes. Tli¢ charitable
company continiie5 to a5SlSt meinbei'5 and their descendants to explore their eligibility to i'estore theij. fonner citizenship.
At the end of 2022, the weekly seYvi¢e to deliver kosher Ineals.on.wheels was ended with arrangein¢n15 Wlth P￿"t￿er
oi'ganisalions put in place to re-provide for mel￿be[S.
The charitable coinpany serves as & lead chariry iii an Uinbi'ella Group of five UK charities whicli support Holocaust
sllryivors and refugees. Iii filling this role, it trn¥dges in discussions with the Claiins Confeience concerning social welfaiE
progi?Inines, PTincipally the provision of Homecare and other in-hoine seivices ftnd einei'gency care funded by the GerEna
and Austrian GovertJinent% tjnd is a conduit for the receipt and disbursal of fttnds to Uinbrclla Group agencies and theii.
betTreficiaries.
The ch&ritable cotnpany has also adtninistered a similar prograinme of ijianageineiit of funding provided by the URO to
suppoil victims of Nail persecution who are of Gerinan origiTr with social and eme¥gency needs.
Two repi'es¢nttStive5 of the charitable coinpany are Ineinbers of the UK delcgation to the International Holocaust
Reinembr&nce Alliance, an intergoveixmenlal organi5alion founded to unite govei'nillents and experts. to strengthen,
advatice and proinote Flolocaust education, research &nd Teineinbiance.

THE ASSOCIATION OF JEWISH REFUGEES (AJR)
TRUSTEES, REPORT {contÈnued)
FOR THE YEAR ENDED 31 DECEMBER 2022
OBJECTIVES. ACTIVITIEI S AND PUBLIC BENEFIT (continued)
The chai'itable company uses volunteers to suppoil its social and outreach activities. Volunteers visit and cg11 membeiB to
mitigate isolaiion and to assist in leaining particularly in relation to the use of inforination technology. More than 300
volllnteer% piM)vidcd approxiinately 20,000 hoiirs of visit time, siipplcinenting tlie social service team by the equivalent of
13 full time and outreach staff. Volunteers also assist with the delivery of social events and help out at head office.
The picture below was taken at an event in July 2022 to celebrate and recognise volunteers for their contributions.
IK.
0ty4Tii

THE ASSOCIATION OF JEWISH REFUGEES IAJR)
TRUSTEES. REPORT {continued)
FOR THE YEAR ENDED 31 DECEMBII R 2022
ACHIEVEMENTS AND PERFORMANCE (eolltinued)
Grant making poliey
The chai'itable company disbui'scd social welfaie grants to individiial AJR meinbers whose reqiiests wei'e considered on a
case by case basis, subject to each grant being for a purpose in line with the objectives of the charitable coinpany.
As the lead agency of the Umbrella Group, the AJR also disbursed grants to Holocaust survivors and IEfllgees, including
those who weie not AJR Ineinbers, froin the Inonies allocated to the UK froin the Clauns Conference. These awards were
approvcd by an Advisoiy Coininittee or as otherwise I'equii'ed under the terjns of the Claims Confeicnce grants. It also
acted as payiiig agent foi. grants awarded by the URO.
Alongside the grants to individuals for social welfare purposes, a sub- coinmittee of Trustee5 and, for larger PTojects, the
full body of Trustecs, considcrcd pi'oposals frotn individuals, local community groups and institution5 for thc siippoit of
projects relating to Holocaust education and memorialisation. The charitable coinpany employs a Head of Education and
Hci'itage to Provide a professional assessment of project applications, to devise appj'opriate educational and
coinmemorative projects and to genei?Ily advise the Trustees in these matters.
ACHIEVEI MENTS AND PERFORMANCE
The financial slateinents for the year ended 31 December 2022 show a net ieduction in funds of £2.75 Ik (2021.. reduction
£169kl. In 2022 investments Inade a significant loss, which was partially offset by income from legacie5. In 2021 the
invcstinents had made a significant gain.
The operating deficiency before investinent losses was £0.5m (2021.. £2.4m).
Social work and administrative actlvlty were delivered both in-person and remotely..
The social woi'k teain maintained continuity of service through in-pei'son visits, telephonic and virtual methods.
Regional Grouploutreach programmes were a Inixture of in-person and virtual events
A weekly e-newsletter wa5 piiblished which giEatly strengthened the coininunication channel to members and
suppoiled paiticipation in online activity.
Ainong the notable and high-pi'ofIlc cvcnts the charitable ¢oinpany organised was the installation ol'a plaque at the port o
the Isle of Man to coniinemorate both the Jewish refugees interned there and those who supported thcin while inteined.

THE ASSOCIATION OF JEWISH REFUGEES {AJR)
TRUSTEES, REPORT (contiiiued)
FOR THE YEAR ENDED 31 DECEMBER 2022
ACHIEVEMENTS AND PERFORMANCE (continued}
The charity continued to grow its next generation activities. including organising a visit to Vienna for children of former
re￿geeS fi'oin Austria. The coinprehensive programme included a iEception given by the Federal Pi'esident of Austria,
Alexander Van den Bellen.
TT."
The full return to in-person events included the annual tea in October and the annual event to cojnmemorate Kristallnacht.
.'{
¥-?

THE ASSOCIATION OFJEWISH REI FUGEES (AJR)
TRUSTEES, REI PORT (eontin¥Jed)
FOR THE YEAR ENDED 3] DECEIVIBER2022
ACHIEVEMENTS AND PERFORI¥IANCE (continued)
The Trustees continueto inonitor investment strategy through the Investment Coinmittee and through qualified indep¢ndent
advisors. £4.Om of thE Iiivestment portfolio of the chai'itable con)pany is iiive5ted a lower risk absolute i'ehjrn fiind and
this. together with its cash reserves, provides liquidity and flliaiicial protection in times of unstable Inai'ket conditlOllS.
Impact
The TnI5tees assess the 5UCCE5s of the charilablt coJnpany'5 activity in leinis of..
TILe overall nUEnbcr of men3bers that it support5 and the numbeT of Nazi victims wtthin the Ujnbjella Group who
benefit frDJn the delivery of the welfare prograiiimes funded by the Claiims Conference, charitable company and
the URO.
The IMaintenance and enhanceinent of its own welfare grant Inaking programme.
Attendances (both pl)ysically and virtually) at, and take up of, OLltre&ch and social prograll￿nes.
The level and regularity of social work visits to, and assessinents of. its meinbers.
The natiire and quality of output of ihe instiiutiolls wliose projects it funds foi. coinimeinorntive and
educational purpose5.
Recoi'ds are Inftintained which report on the level of st)cial service vistts, welfaiE granL% paid and numbers of Nazi victims
as5isled. Repojts arE available to the Trustees, the Claims Conference and key members of manaEement.
Reports and updates. are requested fiDin organisations whose educational and coinmemorative projects the Charitable
cott]pany funds to deinonstrate that grants given are Iised effectively foi. the pui'pose for whEch they were ttjade.

THE ASSOCIATION OFJEWISH REFUGEES {AJRI
TRUSTEES, REPORT {¢ontinued)
FOR TFIE YEAR ENDED 31 DECEMBER2022
ACHIEVEMENTS AND PERFORMANCE (continued)
Overall, membership over the year reinained Telatively stable. the decline in the first generation Ineinbershlp largely being
offset by the growth in fiilurc gcneration Inembei'ship. The Ti'ustccs iecognise this continuing shift between geneiations
and will Focus the charity accordingly in the months and years ahead.
AJR Membership from 31.12.18 to 31.12.22
311J112018
1010912019
2811112019
2610612010
09112/2020
3110S120*)
2211J/2021
0110612022
3111212021
.3RtsGEII *TOTAI
10

THE ASSOCIATION OF JEWISH REFUGEES (AJR)
TRUSTEES, REPORT {continuedl
FOR THE YEIAR ENDED 31 DECEMBER 2022
ACHIEIVEMENTS AND PCI RfiORMANCE (conttnu¢d)
Work with and focus on future generations continued to oxpand in the year. Two AJR representatives attended the annual
confei'ence of the World federation of Holocaust survivors and descendant5, which took place in the United States.
Dui'ing the year the charitable company's teain of social workers con5l5ting of 13.3 full time equivalent staff, made in
excess of 4,000 contacts by way of vislts OT telephone calls to Jnejnbers needing support.
In total, the charitable coinpany received grants relating to its own membei's fi'om the Claims Conference amounting to
£6.Oin12021.' £4.4m) representing a continuEng source of grant income for specific social projects that weiE in line with
the activities of thosc oi'gani.%atii)ns as detailed below. £5. Im (2021.. £3.7in) was distribiited dircctly to members, the
reinainder being a contribution towards the charitable coinpany'5 Costs of administering the Umbrella Group and disbui'sing
welfai'e funds. A fiiiihei. £0.7m {2021.. £0.7in} was distributed to over 100 of the neediest inembeis of the charitable
company as part of its own welfare prograinme.
Arising froin its iclationship with the C￿all￿S Conference. a total of £1 0.5m (2021-. £9.5m) of Claims Coiiference funding
was adininistered by the charitable compaiiy on behalf of itself and other agencies in the Umbrella Group including the
grants shown as iests'icted fund income and expenditure in these financial 5tateinent5. Of the above £1 0.5m, £6.Om relates
directly to the charitable COlDpany's members and is reflected in the financial stateinents. These fvnds are used to support
needy Jcwish victims of Na7.2 persecution with the provision of carers to enable thein to reinain in their own homes, and to
assist with medical, housing, transport and other urgent needs. These prograinmes have supported in excess of 400 victuns
of Nazi oppression dui'ing the year.
The outreach activity of the charitable company included the holding of 272 meetings at which there were 4,468 individual
attendances by Inembeis across the country.
In 2022, 151,000 additional hours of care were funded over 2021. In tot81795,000 hours of care were funded.

THE ASSOCIATION OF JEWISH REFUGEES (AJR)
TRUSTEES, REPORT (continued)
FOR THE YEAR F.IYDED 31 DECEMBER 2022
ACHIEVEMENTS AND PERFORi¥L4NCE (eontinued)
AJR continued to celebi'ate its 80th anniversary with a series of events, completing it5 '80 '] rees for 80 Yeai's Pi'ojeci"
planting native species of trees, mostly oaks, at 80 diffeiEnt locations thi'oughout the UK to inai'k places that were
significant to the Jewish refvgees. AJR Ineinbers were invited to sponsor a tree honour of a loved one. The tIEe planting
cei'einonies were attended by a ¢oinbined physical aiidience of approximately 1,500 people, including eight Lord
Lieutenants, 50 Mayors and 15 MPS. Below is an extract from the AJR Journal.
80 Trees for 80 Years
Feature for AJRJOURNAL, March 2022
One
Tree-mendous
Week
4AJR_
Forty dllf+i*nl lovms aThd clll*%
und Il* UK Cho￿ lo maik Ihlj
y•JJ's Holocau51 Diy
by plinllnK an In honour
of AIR motnb•rs. yrt ol ou
l•inA1*4bl*￿ 10 Tree5 lor BQ Yoars
Th￿￿￿Ow￿l GeLY￿ rtofnty
ht¥liusLNindv¢i% 1141knn(yl *ththth
thrliF.r4ndwenlkwho Intlio
Holouust.
onl￿d￿y28)i￿Ulry Iwolico%
aht*l ki L*tds.OhètytKotli¢rsEinril
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12

THE ASSOCIATION OF JEWISH REFUGEES {AJR)
TRUSTEES, REPORT (eontinued)
FOR THE YEAR ENDEID31 DECEMBER2022
ACHIEVEMENTS AND PERfiORMANCE {eontinlled)
In De¢einber 2021. also as part of its 80 anniversary activities, the charitable company launched The UK Holocaust Map,
in pannei'ship with the Depaitincnt for Levelling Up, Housing and Coinmunities. This online platform highlights sites of
meinoiy aci'oss the UK rclated to Britain's IEsponses to Nazism and the Holocallst. As well as the trees, the Inap feature5
layers of information drawn fi'om nuiner0115 50urce5, including froin partner organisations and the charitablc company's
own resoui'ces sucli as Its Re￿gee Voices archive. Throughout 2022, the chai'itablc company added content to the map
such that it now contains over 600 records relating to the British cont]ection to the Holocaust.
Tlie UK HolocJLl%t F4a5)
Qo.
fj'ii
Refugee Voices, tlie charitable coinpany's ai'chive of recorded and documented interviews with refugees, created in 2003,
Continues to expand, with to date 272 first genei'ation inlervicws having been Completed.
/AJR
13

THE ASSOCIATION OF JEWISH REI FUCEES (AJRI
TRUSTEES, REPORT {eontinued)
FOR THE YEAR ENDED31 DECEMBER 2022
ACHIEVEMENTS AND PERFORMANCE {continlled)
Tlie Trustees are grateful for the considerable efforts made by the charitable company's employees and numerous
volunteers to delivei. the Iniiltiple achievcinents described above.
Details of grant5 made foT educational purposes during the year were are as follows..
Beneficiary
Ainount Purpose of award
granted
£15k Creatin¥ Flolocaust resources for Wc15h schools
£31 k To support the costs of outi'each educatoi's
£20k Support the travelling production of "Kindness"
£61 k Fund annual four-day irsidential course each year for 3 years
£1 Ook Towards projects of particular inieiest to the chai'itable cojnpany
£IOk Support Maccabi's annual candle project
£8k A memorial in honour of Trevoi. Chadwick
Aberystwyth University
National Ilolocaust Centre
Voices of thc Holocaust
Holocaust Fducational Trust
Wiener Holocaiist Libi'ary
Maccabi Candle Project
Swanage Memorial
Other
£32k
Total
£277k
In total, £302k in grants were distributed in 2022 of which £148k were awaTded pj'ioi. to 2022.
Thc AJR was heavily repiesented at the inauguration of the Kinderti'ansport memorial at Harwich in September 2022, a
Inonument to which it pledged sponsorship in 2021.
14

THE ASSOCIATION OFJEWISH REFUGEES (AJR)
TRUSTEES, REPORT (eontinued)
FOR THE YEAR ENDED 31 DEICIIMBER 2022
FINANCIAL REVIEW
Reserves
At the balatsce Sheet date, total reserves stood at £20,9in {2021.. £23.7ml, all of whicli is uniEStricied. The Triistees seek to
¢n5llre that the level of i'e5erves of the charitable company are sufficient to fund the provision of its services for tlie
Foi'eseeable Cuture indepcnd¢Rt of grant Encoine which is not guaranteed.
Following a strategic ieview of Tts activities and coininiiments, the Trustees adopted a strattgic plan in 2019. Consideration
was giyeii to the deinogTaphic profile of tlie Ineinbership of the chArirable coinpany and how that was likely to change over
the next ten years. 'I'lie 'I'rustees considered that the charitable con)pai)y had siiflicient reserves to meet its charitable
objectives for th¢ foies¢eable futlllE.
Investment policy
The policy of tlie chai'itable company is to retain cash balances sufficient to manage the day-to-day working capital of the
entire Uinbi'ella Group witli iespect to Claiins Conference activity a5 well as its outgoings. Cash balaiice5 above this
level &re placed with the chErilable coinpany's investinent Inanagers. Rathbone Invesiinent Manageii)ent Limitcd and
Riiffer LLP ("Uie Managers"). to whoin the investment of the fund5 of the chai'itable coillpany is delegated on a
disci'¢tionary basis.
'rhe bi'oad objective5 in relation to ihe investinent of the assets were and will I'einain the manageinent of investinents for a
balanced coinbination of incoine and growth, reviewed periodically by the InvesThnent Committee and its advisors, and, in
tnaking or varyiiig the investments, ensui'tng that the managers have regard to the following criieria..
the suitability of any particular investinent proposed to be Made or rEtaitJed
the n¢ed for divei'sifI¢atioii of the invest￿ents $0 far as is appJx)pi'iate lo the eircuinstances of the charitable
company.
In relation to the above ci'iteria, the total value olthe net assets of the chai'itable compaiiy at the yeai'_end was £20.9in. of
which the inves(mcnt portfolio amounted to £16.3Jn. Cash held on deposit reduced to £3.2m.
The Trustees have agreed pei'fonnance benchiiiaTks foi. the inanagers as detEiled below-
Ralhbone..
PIMfA Balaiiced (PeTsonal Investiment Management & Financial Advice A5s0¢iation)
Ruffei.:
An Élbsolute reilirn approach with the twin objectives of not losing v&lue in any rolling twelve-monih
period while gi'owing fund5 at g highei. rate than would b¢ achi¢ved by investing in Cash.
The chai'itable coinpany does not generally acquiiE iiivestinents in Inarkets where marketability is limited.
There are no rax or legal constraints which affect the countries oi. jurisdictions in whieh the investments air held.
Fundraising
The charitable coinpany does not solicit funds via telephone. einail, direct Inail or by using third party colnme￿Ial
fundraisers and does not ￿lid[al$t via a general call for 5UPPOI't. The charitable coimpaiiy is coinmitted to beiiig accoLintable
and responsible and, should its fundiaising appi'oa¢h Change in the future, will register with th£ UK fundraising Regulator.
The charitable company received no complaints about ￿nd1"aiSIng activity during eiiher 2021 or 2022.
15

THC ASSOCIATION OF JEWISH REIFUGEES (AJR)
TRUSTEFS, REPORT (continued)
FOR THE YE4AR ENDED 31 DECEMBER 2022
FINANCIAL REVIEW (eontinued)
FUTURE PLANS
It is intended tliat tlie chaTilable cojnpany WEII conlinue to siippoil the needs of Jewish victims of Nazi oppression with a
range of services and lo Sup￿[1 appropriate educalional and ¢oiMinemoi'ative initiatives relating lo the Holocaiist.
Dui'ing 2018, Ilie Ttiislces decided to carly out a fiill long.term strdtegic rcview to deterinine the nature of its operations.
A third-pai'ty consultant was appointed to facilitate this i'eview and work coiminenced during that yeai. which concluded
dui'ing 2019. 1.he strategic review has been refreshed (and was again i'eviewed in both 2022 and early 2023) and Et was
agi'eed that thc shategic fo¢u5 of the charitable coinpany will continue to be..
Suppurtiiig the Fii'5t Generation of survivors and refugees
Developillg sei'vices and activities for Ihe SecoTid Genefation
Sponsoi'ing 14olwaust comimeinoralion, teaching and leaming
16

THE ASSOCIATION OF JEWISH REFUGII ES {AJR)
STATEMENT OFTRUSTEES, RESPONSIBILITIES
The Ti'ustccs (who arc also tlie Director5 of The Association of Jewish Refugees (AJRI for the puryoses of coinpany law)
aTe respoiisible foi. prcparing the Trustees, report and the financial slateinenls in accordance with applicable law and UK
accounting standaixls (United Kingdoin Generally Accepted Accounting Practice).
Charity law requires the Trustees to prepare financial statements for each financial year which give a ti'ue and fair view of
the state of affairs of the charitable coinpany and of the incoming resoiii.ces and application of JEsoiiires, including the
incoine and expenditure. of the charitable coinpany for that pei'iod. In pi'epaiing these fjnancial statcments, the .1 i'ust¢CS
are required to..
Select suitable accounting policies and then apply thein consistently.,
Observe the inethods and principles in the Charities SORP,.
Make judginents and estiinates that are reasonable and pi-iidenl;
State whetherapplicable UK accounting standaixls have been followed, subject to any Inaterial departures
disclosed and explained in the financial stateinent5' and
Prepare the financial stateinents on the going concern basES unless it is inappropriate to presume that the
charitable coinpany will continue in busiiic.%s.
The charitable coinpany'5 investments and liquid resources are such that at any tiine they can be converted tnto cash and
thu5 enable it to inect its liabilitEes and cominitinents as they fall due.
The Trustee5 are iE5ponsible for keeping adequate accounting records that are sufficient to show and explain the charitable
coinpany's transactions (Ind disclose with ieasonable accuracy at any tiine tlie financial position of the charitable company
and enable thein to ensure that the financial statements coinply with tlie Compaiiies Act 2006. They air also responsible
for.%afeguarding the assets of the charitable company and hence fortaking reasonable steps for the prevention and detection
of fraud and other irregularities.
The Trustees are responsible for the Inainienance and integrity of the corporate and fIiiancial inforination included on the
charitable coinpany's website. Legislation in the United Kingdoin governing thc preparation aud disseinination of financial
stateinenls may ditTer from legislation in olherjurisdictions.
The Trustees have pemiitted the auditor to undei'lake whatever insp¢ctioiis it Considers to be appropriate for the purpose of
enabling the auditor to give its audit opinion.
So far as each of the Trustees i5 aware at the time the report is approved..
there is no relevant audit inforjnation of which the ¢harilable coinpany's auditor is unawai'e., and
tlie Triistees have tsken all steps that they ought to have taken to Inake themselves aware of any relevant audit
information and to establish that the auditors are aware of that information.
APPROVAL
This report was approved by the Trustees on
behalf by..
.and signed on their
M Karp OBE
Chairman
17

INDEPEIYDCINT AUDITOR'S REPORT TO THE TRUSTEE4S OF THE ASSOCIATION OFJEWISH
REf4UCE4 ES (AJRI
Oplnion
We have audited the financial statemenii of the Asso¢i&tioii of Jewish Re￿ge¢S (AJR) for the ye31. ended 31 D¢cetnber
2022, wliich coIt)pi'ise tli¢ Stattinent tsf Finan¢ial Activitie5, the Balance Sheet, Cash flow Ststemeiit and notes to the
financial staktnenls. including a sum]naiy of significant accounting PDli¢ies. The financial repoiting fi'amework that h2S
bEen iipplied in theii. prepaiBlion Es applic&ble law and Unit¢d ICingdoTll Ac¢ounting Standards, Encluding financial
Rcportlll&T Standard 102 The Fin(7ncial Repoi'liNg Siandai'dopplicable ihe UK llndRepiiblic oflreloNd(Uiiiled Kingdoin
Generally Accepted Accounting Practice).
In oiii. opinion, the financial statements:
give a true and fai¥ view of the slate of th¢ chariiable company's affairs a% ai 31 December 2022 and of the
charitable company's net Inoveinent in fiinds, including the iftcojne and expenditui'e, for the yeai. then ended.
have been properly prepaird accoi'dance with United Kingdom Generally Accepted Accounting Pi'acttce; and
have been pi'epared in accordance with the requireinents of the Companies Ac¢ 2006.
B25is for opiRioii
We conducted our audit in accordance with IIitei'national Standards on AudilEng (IJK) {ISAs (UK)) and applicable law.
Our responsibilitie5 undei. those standards are furtherdescribed in thc Auditoi s responsibilities for the audit ofthe financial
Statetnents sectiot] of our irport. We arc indcpendent of the chai'itable coinpany in accordance with the ethical requirements
that are iElevaiit to our audEt of the financial statemenls in the UK, including tlie FRC'S Ethical Standard. and we have
fiilfilled oui. othei. ethical iesponsibilities in accordaiice with tliese reqiiiiyinents. We believe that Ilie aiidit evidence we
have obtained is sufficient and appropriate to provide a basis for oiir opinion.
Conclusions relating lo going concern
In auditing the financial statements. we have concluded that the Trustees. use of the going concern basis of accounting in
the prepai?tion of the financial slatements is appropi'iate.
Based on the work we have perforined, we liave not identified any material un¢erlaiRties relating to eveiits oi. conditions
that, individiially or collectively. Iiiay cast significaiit doubt oil the chai'itable COllLpaiky's ability to continue as a going
concerii for a period of at least twelve Inonths from when the financial stateinents are authoi'ised for issue.
Our responsibilities and the responsibilities of the Trustees with respect 10 going coi)cei"n al'e desci'ibed in the relevant
sections of this report.
Otlier infornjatio
The Trustees al'e i'esponsible For the other inforniatEon. Tile other infonnation co&nprises the information included in tlie
TrustEe5' AnJ]ual Report. Oui" opillion the f15]aiicial statement5 does not covei" the olhei. inforination and, except to the
extet]l Dtherwise explicitly Staled in our report, we do not expiEs5 any forin Df assurance conclusion thereon.
In CDiin¢cliOlI With our aLidit of the financial stateEnent5, our i.espon5ibility is to read the other infortnation and, in doing
SD. CDll5ideJ' whether the othei inforination is materially inconsistent with the finaTrcial statement5 or our knowledge
obtained in the aiidit or otherwLSt appeatE tD be niaterially Jni5Stated. If we identify SEich matei'ial inconsistencies or
appai'eiit tnaterial mi5StatEinents, we are i'equired to detennine whether there 15 a material tnis5tatEment in the financial
statenienls or a material inLSStateinent Df ihe othei. infollnalion. If, based on ihe work we have perfom]ed, we con¢liide
that Ihci'e is a nialei'ial mi5Stateinent of thi5 Other infoi'matiotl, Ive are Jequired to i'epoi'l that fact. Wt have nothEng to
report in thi5 regard.
18

INDlkPENDENT AUDITOR'S REIPORT TO THE TRUSTEES OFTHE ASSOCIATION OFJEWISH
REFUGECS (AJR)
Opinions on other rnatters prescribed by the Companies Act 2006
In our opinion, based on the work uiidci'taken the COUTse octhe aiidit..
¢he information given in ihe Trnstees. Annual Report (which incorporates the sti'ategi¢ report and the dire¢tOTS'
reporil foi. the flnancial year for which the financial stateinents ale piepared is consistent with the financial
st8tcnicnt.8', aiid
the strategic i'eport and Ihe directors, repon included wiihin the TrLlStees' Anniial Report has been prepared in
acco¥danee with applicable legal requiremenrs.
Responsibilities of Trustees foi. the finajieial statements
As explained more fully in the TrLtstees' iesponsibilities stateinent Set out on Page 16, the Trustees (who air also the
diiectors of the charitable coinp<iny for the piirposes of coinpany law) are responsible for the pj'epajition of the financial
stateinents and foj. being s&tisficd that they give a tru£ and fair view, 8nd for sucli internal cnntrol as the Trustees dettijiiine
Is nc¢c5saiy to ¢nabl¢ th¢ pr¢paiation of financial statcimcllls that arc fT¢C fro1￿ Inatcrial Inis5tatcm¢nt, whctlici. duc to fraud
oi. error.
In prepai'ing the financial stateinents, the Triist¢¢5 air responsible for assessing the charitable coinpany's ability to continue
s a going ¢on¢ei'n, disclosing, as applicable, i)iattei'5 related to going concei'n and using the going conceill basis of
accounting unle55 the Trustees either intend to liquidate the chai'itable company or to cease operations, oi. have no realislic
alternative but lo do 50.
Auditor's responsibilities for the oudit of tlie fTnan¢ial 5tateinents
Oui. objectives are to obtain Irasonable assui'Ance about whether ihe finai)cial stateinents as a whole are free fi'om Imaterial
Inisslatement, whether due to fraud or eri'or, and to issue an auditor's report that includes our opinioll. Reasonable assuixnce
is a high level of assurance but is not a guaiantee that an audii conducied in accordance with ISAS (UK) will always detect
a material illisstatement when it exists. Misstatements can arise fiDm fi'aud oi. enDr aiid ale considered material if,
individually or in the aggregate, they CL)uld IEasonably be expected to influence the ecoiiomic decisions of usei's taken on
the basis of these financial statel￿entS.
Irregularities, Incl￿dIng fi'aud, are instances of non-compliance with laws and r¢gulations. Wc design pmcedui'es in line
with oui. I'esponsibilities, outlined above. to detect material Inisstateinents in respect of irregulai'ities. including fi'aud. The
extent to which our procedures al'e capable of detecting ureglilarities, ii)cluding fraud is d¢taile(I below..
Based on oui. understanding of the chai'itable coinpany and the enviroiiinei)t in which it operates, we identified that the
pi-incipal risks of i)on.compliance witli laws and I'egulations relaled to ihe legal aiid iegulatory rcquirementg pertaining to
regisiei'cd charities, and we considered ihe extent to which noii-compliance Inight have a Inaterial cffcct on the financial
siatements. We also consideiEd Ehose laws and regulations that have a direci impact on Ihe preparation of the financial
sratements such as the Coinpanies Aci 2006 and the Charities Act 2011, and oiher faciors such as incoine rax and payroll
xes.
We evaluated manageinent's incentives and opportunities for fi'audiilent manipulation of the fillancial statements (includino
the risk of overiide of controls) and ddeiini11¢d that the principal ri$k5 were related Inanual accounting journal5.
Audit p1￿CedU1￿$ perforitted by the engagement ieain included..
Insp¢tting COTrespondence with rcgulators and tax allthoi'itics.,
Dsscus5itsns with Inanageintsnt including considei'ation of known or 511spected instanees of tton-complian¢e with
laws and regulation and fi'aLId',
Eviiludtin¥ inanllgemenl's conlrDls designed to prevent atLd detect iri'egulariiies.,
Identifyin&r a￿d testing jOUTnalg, in particularjournal ents'ies posted with unusual account con)binations, postings
by unusual u5ei's or with unusual dESLI'ipliuns' and
Cl)allenging assuixplions and judgeTllents It)ade by manageinent itt theii. CTltical accounting esti1tt2te
19

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTII ES OF THF. ASSOCIATION OFJEWISH
REFUGEES (AJR)
A further descripiion of our responsibilities for the audit of ihe financial statements is located the Financial Reporting
Council's website at.. wTrvw.frc.oi'g.uLlaudirorsresponsibiliiies. This description fortns part of our auditor's i'eport.
Bcfr3use of the iDheTent liinitations of an audit. there is a risk thai we will not detect all Ei'reEularities, including those
leading to a material misstatement in the financial stateinents or non-compliance with regiilation. Thig I'i5k increages the
mol'e that coinpliance with a law or regulation is I'einoved froin the events aTid transactioiis reflected iii tlie financial
5tatetnents, as we will be less likely to becoine aware of insrances of non-cojnpliance. The rEsk i5 also greattr i'ega2'dit]g
irregularities occurring due ID fraud Ixther than eNor, as fraud involves intentional concealment, forgery, colliisioji,
oinission or misrepresentation.
Use of our report
-rhis repori is made solely to the chai'itable company's members, as a body, in ac¢oTdance with Chapter 3 of Part 16 of the
Compai)ies Act 2006. Our audit work has bccn undcrtak¢n 50 that we iiiight qtat¢ to th¢ Charitable coinpany's Ineimbers
those Inatters we al'e required to siare to them in an Auditows report and for no othei. purp￿8¢. To the fullest extent pcnnitted
by law, we do not accept or assume I'esponsibility to aIiyone other than the charitable ¢oinpany and the Chai'itable coinpany's
meinbers, as a b(x]y, for our aiidit work, for this ieport, or for the opinions we have forined
Adain Halscy (senior Statutory Auditor)
FOT and on behalf of14aysmacintyre LLP, Statutory Auditors
10 Queen Street Placc
London
ECAIR IAG
0710712023
20-

THE ASSOCIATION OFJEIWISH REIFUGEEIS (AJR)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDEID 31 DECEMBIIR 2022
2022
Total
Funds
2021
Total
Fuiid5
Unrestricted
Funds
Restricted
Fund5
Notes
Ineom¢ from..
Donations and lega¢ies
1,966,227
1,966,227
183.929
Chai'itable activities..
Grants for welfare woi'k
Social and welfare activities
Othei. grant income
14
5,992,331
5,992,331
11,042
4,432,229
12,231
1.042
Subscriptions
42.617
42,617
43,356
Iiivestments
497.684
497,684
386,072
Total
2,517,570
5,992,331
8,509,901
5,057,8 17
[1 xpenditure on:
Raising funds
65,696
65,696
82,986
Charitable a¢tivitits'.
Social and welflli'e activities
Educational activities
3,264,061
525,315
5,149,900
8,413,961
525,315
6,802,715
548,955
Sub total
3,855,072
5,149,900
9,004,972
7,435,656
Claiins Conf¢iEnce overhead contributio
1842,4311
842,431
Total
3,012,641
5,992,331
9,004,972
7,435,656
Nei expenditure before gains I losses on
investsllents
(495,0711
(495,071)
(2,377,839)
Net gains / {10sse5) on investinent5
(2,256,325)
(2,256,325}
2,208,708
Net expenditure and rtet movement in
funds
12,751,396)
(2,75 1,396)
{169,131)
RECONCILIATION or FUNDS
IUND BALAiycfs BROUGHT
FORWARD
23.698,850
23,698,850
23,867,981
FUND BALANc￿s CAIiRIED
VORWARD
15
20,947,454
20,947,454
23,698,850
All gains and losses recognised itt the yeai. al'e inCl￿dEd in the Stattinenl of Financial Activities.
All transactions are derived from continiiints &ctivities.
The notes on pages 25 35 form part of rhese financial 8taten)ents.

THE ASSOCIATION OFJEWISH REf4UGEES (AJR)
STATEIVIENT OF fiNANCIAL ACTIVITIES
FOR THF. YEAR ENDEI D 31 DECEMBF.R 2022
Cotmparative, (or the year ended 31
December 2021
2021
Unrestrieted
Funds
Resti'icted
Funds
Tolol
Funds
Notes
Income from-
Donations and legacies
183,929
183,929
Chai'itable activitEcs-.
Gi'ants foi. welfare work
Social alld welfare activities
Other grant iiicoin¢
14
4,432,229
4,432,229
12.231
12,231
Subscriptions
43,356
43,356
Ittvestments
386,072
386,072
Total
625,588
4,432,229
5,057,817
Expenditure on:
Raising funds
83,986
83,986
Chaj'itable activities:
Social and welfare activiiies
Educational activities
3,126,364
548,955
3,676,351
6,802,715
548,955
Sub total
3,759,305
3,676,351
7,435,656
Claijns Conference overhead coniributiort
(755,878}
755,878
TolJ)I
3,003,427
4,432,229
7,435,656
Net expenditUTe before galns on
iiive5tments
(2,377,839)
(2,377,839)
Net gains on inve51mentS
2,208,708
2,208,708
Nel expenditure and net movement i
funds
(169,131)
(169,131)
RECONCILIATION OF FUNDS
FUND BALANCES BROUCHT
FORWARD
23,867.981
23,867,981
FUND BALANCES CARRIBD
FORWARD
23,698,850
23,698,850
22-

THE ASSOCIATION OFJEWISH RF.FUGEES (AJR)
BALANCE SHEET
AT 31 DECEMBER 2022
Cofflpany Number: 08220991
2022
2021
Notes
Tangiblc asscts
Investment5
82,095
16,286,199
105,059
20,488,196
16,368,294
20,593,255
CURRENT ASSETS
DcbtQls.' due within one year
Debtors.. due after one year
Cash at bank and in hand
10
10
3,274,060
26,879
3,225,736
1,037,771
27,029
3,791,795
6,526,675
4,856,595
CURRF.IYT LIABILITIES:
Creditors.. amounts due wiihin one year
(1,947,515)
(1,751,000)
NET CURRENT ASSETS
4,579,160
3,105,595
NET ASSETS
20,947,454
23,698,850
FUNDS
Unrestricted
14
20,947,454
23,698,850
Restricted
14
20.947.454
23,698,850
Approved and authorised for issue by the Trustees on
and signed on their behalf by..
JLY
2023
M Kaip OBE
Chainnan
23-

## **THE ASSOCIATION OF JEWISH REFUGEES (AJR)** 

## **CASH FLOW STATEMENT** 

## **FOR THE YEAR ENDED 31 DECEMBER 2022** 

|||**2022**|||**2021**||
|---|---|---|---|---|---|---|
||**£**||**£**|**£**||**£**|
|**Cash flows from operating activities:**|||||||
|**Net cash (used in) operating activities (see**|||||||
|**below)**|||(1,783,343)|||(1,809,382)|
|**Cash flows from investing activities**|||||||
|Dividends and interest from investments, rental|||||||
|income and other investment income|497,685|||386,072|||
|Purchase of property, plant and equipment|(12,022)|||(42,294)|||
|Proceeds from sale of investments|7,223,607|||3,251,529|||
|Purchase of investments|(4,165,852)|||(2,243,492)|||
|Movement in cash awaiting investment|(12,082)|||1,468,762|||
||**---------------------**|||**---------------------**|||
|**Net cash provided by investing activities**|||3,531,336|||2,820,577|
||||**---------------------**|||**---------------------**|
|**Change in cash and cash equivalents in the year**|||1,747,993|||1,011,195|
|**Cash and cash equivalents at the beginning of**|||||||
|**the year**|||3,791,795|||2,780,600|
||||**---------------------**|||**---------------------**|
|**Cash and cash equivalents at end of the year**|||5,539,788|||3,791,795|
||||==========|||==========|
|||||**2022**||**2021**|
|||||**£**||**£**|
|**Net expenditure for the year**|||||||
|**(per Statement of Financial Activities)**||||(2,751,396)||(169,131)|
|**Adjustments for:**|||||||
|Depreciation||||33,274||37,362|
|Disposal of tangible fixed assets||||-||(1)|
|Losses/(Gains) on investments||||2,256,325||(2,208,708)|
|Dividends and interest||||(497,685)||(386,072)|
|(Increase)/decrease in debtors||||(1,020,377)||759,846|
|Increase/(decrease) in creditors||||196,516||157,322|
|||||**---------------------**||**---------------------**|
|**Net cash used in operating activities**||||(1,783,343)||(1,809,382)|
|||||==========||==========|
|**Analysis of cash and cash equivalents**||||**2021**||**2021**|
|||||**£**||**£**|
|Cash in hand||||2,225,736||2,791,795|
|Notice deposits (less than 3 months)||||1,000,000||1,000,000|
|||||**---------------------**||**---------------------**|
|||||3,225,736||3,791,795|
|||||==========||==========|



The notes on pages 25-35 form part of these financial statements 

- 24 - 



THE ASSOCIATION OF JEWISH REI FUGEF.S (AJR)
NOTES TO THE ACCOUNTS
FOR THE YEAR EIYDED 31 DE4CE4 MBER 2022
ACCOUNTING POLICIES
Tlie principal accaunting policies adopted, jiidgcinents and key sources of estin)ation and unccitaimty in the preparatign
of the financial stateinents are as follows..
Basi5 of preparation
The FIn￿1ClaI statements haye been prepared in accordance with Accounting and Reporting by Chaiities.. Stateinent of
Recoininended Pi'actice applicable io cliai'ities prepai'ing theii- accoiinrs in accordance with the Financial Reporting
Standards applicable in the UK and Republic of Irelaiid (FRS 102)- Chai"ities SORP {FRS 102), second edition- O¢tob¢r
2019, and the CoJnpanEes Act 2006.
The Trustets have assessed the charitable coinpany's requirements foi. the foiw5eeable fvture, and are confident that
sufficietit funds will be availdble lo en(Ibl¢ OP¢T(ttion5 to continue at a sustainable level for a period of at least 12 months
frolll the date of approval of these f￿anCIal statejnents. The charitable conipaiiy theirfore continues to adopt the going
concti'n basis in pi'eparing ils financial sl&teinenls. The Trustees consider thei'e al'e no Inatei'ial uncerlaintie5 about the
chai'itable coiMp8n} s ability to ¢ontiniie a5 a goins conceTn. The fEnanci315tateinents do not include the adjiistments
thatwould iesult ifthe ¢harilable Company were unable lo continue as a going concern. The 2023 budget froin the Claims
Conferen¢e has been confirmed and cash flows pi'oduced to tlie end of 2024.
Publi¢ bEnefit cntity
The Associatioii of Jewish Refugees (AJR) Ineets the definition of a public benefit entity under FRS 102.
Legal status
The Association of Jewish Refugees (AJR) is a company limited by guaTantee without share capital. In the event of the
chai'itable coEnpany being wouad up, (he liability in ir5pect of the guaralltee is limited to £ I per me]￿ber of the charitable
toinpany.
Critical aeeounting judgements 2nd est]i￿ateS
In pieparing tliese fjnallcial stateIneTrts, the TI￿SteeS have made judgeinents, estiir]ates and assumptions that affect the
application of the chaiitable company's accounting policies and the reported assets. liabilities, income and expcnditurc
and the disclosures Inade in the financial siatemenls. Estiinates and judgements are con(iniially evaliiatcd aiid arc bascd
on histoi'ickl experieftce and othei. factoi's, including expectations of fiiture events that are believed io be reasonable
under tlie circumstance5.
Income
All incoming resoui'ces are included in tlie Stateinent of Financial Activities when the charitable company ha5
entitlement to income, it is pi'obable thot ihe income will be received and the amount of incr)Ine receivable can be
measured i'eliably.
Donètlolis are accollnted for in the ye&r iii which they are received.
Legacies are Ircogntsed when tlie cJ"ittria of cntitlemcnt and pi'obability ale Inet. and the legacy can
be qiiantified with reasonable accuracy. In detenniTking the amounts recognised al ihe balance sheet
date, the trustees have Jegard lo actual IEceipts subseqiient to the balance sheet date Eogethei. with any
other evidence supporting recognition.
Gi'ants al'e recogiiised in full iii tlie stateinent of financial activities the year in which the charitable
¢oinpany has entitleineni to the incotne, and when the ainoLtnt of incoine receivable can be Mea5uI'ed
reliably and there is pi'obability of ieceipt.
Income diie fJx)m legacies 8iibject to life tenancies is taken into account on the temiinatiort of tlios¢
l￿fe tenat]cÉes.
Inveslmeni incoine is recognised on a receivable basis and when the amounts can be measured
reliably. Dividenos air iecognised once the dividend has been declared and notification has been
received that the dividend is due.
25-

THE ASSOCIATION OFJEIWISH REI FUGEE.S {AJR)
NOTL4 S TO THE ACCOUIYTS (coRtinued)
FOR THE YF.AR ENDED 31 DECEMBER2022
ACCOUNTING POLICIES {continued)
Expenditure
Liftbilities, iiicluding in'ecovei'abl£ VAT, are iEcognised as expendittire as soon as tliere is a legal or construetive
obligation eoinit)itting the charitable cojllpany to that expenditure and it is probable tho1 seuleinent will be required
and the ainount of obli(Tation can be measured reliably.
Raising funds coimprises the costs associated with generating voluntai'y iiicoime and the investment management
fees.
Chai'itable expenditure includes all direct expenditui'e, including staff costs which are directly attributable to
activities, as wcll as grant cxpcndityre. 8uppDrt costs, which incliide govern8nce costs, ale apportioned to charirable
#ctivities on the basis of time allocation of stsff peifoin)ing suppoi't Ciinctions. A suininary Df siipport costs is
provÈded in note 6.
Siipporl Costs have been allocated between govemance Costs and other siipport costs. GovEmance activitle5 CDtnprise
organisational adininistration and coinpliancc with constitiitional and statiilojy ieqllii.emen15. Costs include direct
051s of exteriial audit and professional advice including legal fees.
Grnnts payable ol'e chai'ged to the Statement of Financial Activities in the year in which the offers of such ￿antS are
Inade.
mployee benefits
Short t¢i'm benefits
Short tertn benefits including holiday pay are recogrsised as an expense in the period in which the serv%ce is
re¢eived.
mployee tei'mination benefits
Teiinination benefits are accouiited for on an accrua15 basis and in lille with FRS 102.
Pen510n 5chenie
Thc AJR operates a defined conti'ibution pension scheiiie for the beiiefit of its employees. The assets of the
schenie aiE held independently fi'oin those of ihc cliai'itable company in an adininistered fund. The pension
Cosls charged in the financi815tat¢inents represent the ¢ontributions payable during the year.
r4oreign Currency *raJJslation
The charitable company's functional and pi'esentation cuirency is pounds sterling. Monetaiy assets and liabilities
denoininated in foreign currencses are translated into sterling at the rates of exchange Mling at Ihe bal£lnLE &li¢¢t
date. Transactions in foreign currencies al'e recorded at the i?te I'uling at the date oftlie transaclion. All diffciences
are i'ecognised tn the Sta¢eineJit of Financial Activities.
Operating lease5
Opei'ating lease iental& are chai'g¢d to the Statement of Fipanrial Activities a Straight-l￿e basis over the terin of
the lease.
Taligible fixed a55ets
Tangible fixed a55e15 are accounted for at historic cos( less a provisign for depreciation. Expenditure on equipment
excess of £300, with a usable life of at least 4 yeai's, is cqpilalised as tangible fixed assets.
Depreciation
Depreciation is calculated so as to write off the cost of tallgible fixed assets as follows-.
Office equipinent
Website
Leasehold iinprove]nents
250/0 stsaight line
250/0 stsaight line
Over life of the lease
26-

THE ASSOCIATION OF JEWISH REFUGEES (AJRI
NOTII S TO THI ACCOUNTS (coTrtinued)
FOR THE YEAR EINDED 31 DECEMBER2022
ACCOUNTIIYG POLICIES Icontinuedl
Investments
InVeSti￿entS al'e a form of basic fiii&ncial instruments and are initia15y shown in the financidl statements at I￿al.ket
valiie. Movements in the inaFket values of inve5tinents are shown as unrealised gains and losses in the Statenient
of Financial Activities.
Profits and 105ses on the realisation of investtnenis #it shown as i'eali5ed Bains and losses in the Siateit)eni of
Financial Activities. Realised gains and losses on investinents i'eflect the difference between sales procced$ and
Iheii. opening carrying values or their pujchase value if acqllired subsequent to the fwst day of the financial ye8r.
Unrealised gains and losses al'c calLulated as the difference botween the fair value dl tILE year end and theii. carjying
value. Realised aiid unrcalised investnient oains and losses at'e ¢oinbin¥d in the S1411tInent of Financial Activities.
Finaneial instruments
The chai'ilable coinpaRy only has financial assets and financial liabilities of a kind thdt qiialify as basic financial
insti'uin¢nls. Basic fiiiancÉal i115truments, including trade and other debioi's and creditvr5, are initi&lly recognised
at transaction value ai)d siibsequently measuiEd at their settlement v&lue.
Debtor5
Pi'epayinents al'e valued at the amDLint prepaid net of any trade discounts due. Acc¥ued income is valued at the
expected amount.
Cash at bank and in hand
Cash ai bank and cash in hand includes cash and short teiyn highly liquid investments.
Creditors and provi5jO]15
Ci'editors aiid PiDvisions are recognised where ihe chaTltabl¢ company has a pirseni obligation re5111ting fTom a
past event that will pi'obal)Iy IEsiIIt iii the transfer offunds to a third party and the ainount due to settle the obliLF3tion
caE] be Jneasuj'ed orestiinated reliably. Crediiors and provisions are norinally recognised at their settleinent atnoiint
after 311owing for any trade discoLints due.
Funds
Genejal funds are iinrestricted fiinds which are availablc foi. 118c at thc di8erctinn af the Ti'ustees in furtherance of
tILe general objectives of the cliai'itable company and which have not b¢cn dc5ignatcd for other pui'p05e5.
RestrictEd funds are ftinds which are to be used in accordance with specific resti'ictions iinposed by donors.
27-

THE ASSOCIATION OF JEWISH REFUGEES (AJR)
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR INDED 31 DIICEMBER 2022
DONATIONS AND LEGACIES
2022
2021
Doiiations
Legacies
185,532
1,780,695
113,433
70,496
1,966,227
183,929
All donations and legacies in currenl and prior years was unir5tricted
SOCIAL AND WELFARE AcfiviTIES
2022
2021
Meals Wheels
EyenÉs and oytings
AJR Joui'nal
6,638
2.514
1,890
7,682
,535
3,014
11,042
12,231
All social and welfare activity incoine in ¢iivent and prior years was unrestricted
INVEI STMEIYT INCOME
2022
202J
Interest IEceivable
Dividends
64,816
432,868
34.446
351.626
497,684
386,072
All investment incoine in CUlTent and prior years was iinrestri¢ted
28.

## **THE ASSOCIATION OF JEWISH REFUGEES (AJR)** 

## **NOTES TO THE ACCOUNTS (continued)** 

## **FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **5 EXPENDITURE** 

|**EXPENDITURE**||||||
|---|---|---|---|---|---|
||||**Other direct**|**Support**||
||**Direct staff**|**Grants**|**costs**|**costs**|**2022**|
||**£**|**£**|**£**|**£**|**£**|
|Social and welfare|1,027,374|5,894,947|591,045|559,098|8,072,464|
|Day Centre|-||14,825|3,565|18,390|
|Meals on Wheels|25,535||10,101|7,434|43,070|
|Outreach groups|109,826||46,034|22,935|178,795|
|AJR Journal|-||86,349|14,894|101,243|
||---------------------|---------------------|--------------------|--------------------|------------------|
|**Beneficiary services**|1,162,735|5,894,947|748,354|607,926|8,413,962|
|**Educational activities**|185,392|277,163|45,330|17,429|525,314|
|**Cost of raising funds**|-|-|60,168|5,528|65,696|
||------------------|--------------------|------------------|------------------|-----------------|
||1,348,127|6,172,110|853,852|630,883|9,004,972|
||=========|==========|=========|==========|==========|
|**Comparative**|||**Other direct**|**Support**||
||**Direct staff**|**Grants**|**costs**|**costs**|**2021**|
||**£**|**£**|**£**|**£**|**£**|
|Social and welfare|970,214|4,397,573|571,401|595,327|6,534,515|
|Day Centre|-||8,806|3,731|12,537|
|Meals on Wheels|25,365||12,067|7,555|44,987|
|Outreach groups|83,144||7,636|23,595|114,375|
|AJR Journal|-||81,070|15,231|96,301|
||---------------------|---------------------|--------------------|--------------------|------------------|
|**Beneficiary services**|1,078,723|4,397,573|680,980|645,439|6,802,715|
|**Educational activities**|194,553|307,913|28,710|17,779|548,955|
|**Cost of raising funds**|-|-|78,261|5,726|83,987|
||------------------|--------------------|------------------|------------------|-----------------|
||1,273,276|4,705,486|787,951|668,944|7,435,657|
||=========|==========|=========|==========|==========|



Welfare activities include direct payments to beneficiaries amounting to £5,858,747 (2021: £4,363,369) and a grant of £36,200 (2021: £35,600) to Belsize Square Synagogue to support its social work programme directed at Holocaust survivors and refugees. 

Direct costs on educational activities of £277,163 (2021: £307,913) include grants as explained in the Trustees’ Report. 

Support costs include fees of £15,350 +VAT payable to the auditors for the statutory audit (2021: £12,450 + VAT). 

- 29 - 



THE ASSOCIATION OF JEWISH REFUGfES (AJR)
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 DEI CEMBER 2022
CXPE4 NDITURE (Continutd)
ANALYSIS OF GRANTS
Gr2nts to
institutions
Grants to
individua15
2022
WElfaTe progi'&inmES
Educational actsvitie5
36.200
277,163
5.858.747
5.894.947
277.163
313,363
5.858.747
6.172.110
Cornparative
Grants to
instllutiuns
Crants to
Individuxls
2021
Welfare prograrnmes
Educational activities
35.600
307.913
4,361,973
4,397,573
307,913
343.513
4.361,973
4,705,486
Fui'thei. infoi'inatlg11 on grants to institutions is set out in the Tnistee report (page 131. In 2022 there were 306 recipiertts of
indEvidual giamts (285 2021)
SUPPORT COSTS
Meals
Cost of
raising
runds
Social &
Welfare
Day
Centi'¢
Out-
reacli
AJR
Journal Ci ducation
Wheels
2022
2021
Preinises
42.850
1,145
2.349
967
4,493
182
51,986
46,460
0￿{Ce
adiiiinistratton
Coininunica¢ions
& public relations
Governance
422,136
2,478
4,103
14,624
8,469
9,010
3,809
464,629
516,183
51,979
42,133
1,054
33
2,107
78
5,619
343
5,268
190
2,810
1,405
132
70,242
44,026
64,914
41,386
Total
559,098
3,565
7,433 22,935
14,894
17,430
5,528
630,883
668,943
Meals
Cost DI
r2ising
runds
Comparxtive
Soeial &
Wtlfxi'e
Day
Centre
Out-
AJR
Jouriial Education
Wheels
2021
Preini5es
38,296
1.040
2.003
878
4.078
165
46,460
Office
adininislrdlion
Coinmunic&tions
& public relations
Governance
469,650
2,736
4,476 16,174
9.2S5
9.793
4.069 516,183
48,036
39,345
97gi
22
1,947
92
5,193
224
4.869
200
2,597
1.298
193
64,914
41,386
Total
595,327
3,732
7.555
23.594
15.232
17.778
5.725 668,943
Suppoi'l costs are allocaled to charilable activities based on tijne allocation of staff pei'forining support functions.
30-

## **THE ASSOCIATION OF JEWISH REFUGEES (AJR)** 

## **NOTES TO THE ACCOUNTS (continued)** 

## **FOR THE YEAR ENDED 31 DECEMBER 2022** 

|**7.**|**STAFF COSTS**|**2022**|**2021**|
|---|---|---|---|
|||**£**|**£**|
||Wages and salaries|1,720,003|1,736,194|
||Social security costs|183,899|173,564|
||Pension costs|139,683|137,104|
|||-------------------|-------------------|
|||2,043,585|2,046,862|
|||=========|=========|
||Average number of persons employed during the|||
||year was|50|51|
|||========|========|
|||**2022**|**2021**|
||The number of employees whose emoluments in the year exceeded £60,000 was:|||
||£60,000 - £69,999|1|2|
||£70,000 - £80,000|1|-|
||£80,000 - £89,999|1|-|
||£120,000 -£129,999|-|-|
||£130,000 - £139,999|-|1|
||£140,000 - £149,999|<br>1|-|



Pension contributions paid on behalf of these employees amounted to £27,482 (2021: £20,604). 

The aggregate remuneration, including pension contributions and social security costs, of the key personnel was £400,304 (2021: £298,631). 

The Trustees received no emoluments during the year nor any reimbursed expenses (2021: nil). 

## **8. TANGIBLE FIXED ASSETS** 

|**TANGIBLE FIXED ASSETS**|||||
|---|---|---|---|---|
||**Leasehold**|**Website**|**Office**||
||**property**||**equipment**|**Total**|
||**£**|**£**|**£**|**£**|
|**Cost or valuation**|||||
|At 1 January 2022|100,805|21,670|85,668|208,143|
|Additions|-|-|10,313|10,313|
|Disposals|-|-|(774)|(774)|
||-----------------|-----------------|----------------|------------------|
|At 31 December 2022|100,805|21,670|95,207|217,682|
||-----------------|-----------------|----------------|------------------|
|**Depreciation**|||||
|At 1 January 2022|52,546|20,382|30,158|103,086|
|Charge for the year|10,081|946|22,216|33,243|
|Disposals|-|-|(742)|(742)|
||-----------------|-----------------|----------------|------------------|
|At 31 December 2022|62,627|21,328|51,632|135,587|
||-----------------|-----------------|----------------|------------------|
|**Net book value**|||||
|At 31 December 2022|38,178|342|43,575|82,095|
||========|========|=======|========|
|At 31 December 2021|48,261|1,288|55,510|105,059|
||========|========|=======|========|



- 31 - 



THE ASSOCIATION OF JEWISH REI fi UGEES {AJR)
NOTF.S TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 DfiCEMBER 2022
FIXED ASSET INVCSTMC4 NTS
2022
2021
Quoted investinents
Market value at l January 2022
Additions
Disp(Isals
Investment gainsl{losses)
19,994,633
4.165,852
(7,223,607)
(2.256.325)
18,793,962
2,243,492
(3,251,529)
2,208,108
Sub.total.' quoted investments
Cash held ivith investrnent managers
14,680,553
1,605,646
19,994,633
493,563
Mai'litt value at 31 December 2022
16,286,199
20,488,196
14istorical cost at 21 Decetnber 2022
13,945,242
14,287,338
DEIJTORS
2022
2021
Balances dwc within oiie year
PIEpayinents
A¢criied legacies
Accrued in¢oine
Otlier debtors
51.751
1,177,998
2,042,307
2.004
87,269
120,235
826,545
3.722
3,274,060
1,037,771
Balances dut iii more than one year
Charitable loans {see below)
26,879
27,029
3,300,939
1,064,500
Charitable loaiis
In limited circutnstances, the charitable coinpany advances suins to needy indÈviduals, inteitst fiee, (subject to a fomial
chai'8c in ielation to lai'gei. loans) willi repaytnent oji tenns agreed in wi'lting and approved in advance in each casc by
the TIWS￿es.
32-

THE ASSOCIATION OF JEWISH Rfi FUGEES (AJRI
NOTES TO THC ACCOUNTS (tontinucd)
FOR THE YEAR ENDED31 DECE4 MBlrR 2022
CREDITORS
2022
2021
Amouiits falling due ivithin one year
BeTrefIciary grants
Acctuals
Other taxes and social security
Grants payable to instituiions
Deferiyd incoine (see be￿ow)
1,523,232
125,259
46,794
228,146
24,084
1,250,030
174,077
49,685
253,125
24,083
1,947,515
1,751,000
Deferred income relates to subscription in¢oine and giant income received it] advance. The aiiiouuts deferred each yeai.
are released to the Slateiknertt of Financial Activities in ihe followiiig yeai..
12. RELATED PARTY TRANSACTIONS
Mr. J Strauss, the husbartd of Mrs P Strauss, is a Inember of the Boai'd of Be15ize Square Synagogue, which has been
gi'anied £36,200 (2021.. £35,600) towaiQs ihe cost of it5 social woi'k,
Mr M Newman OBE is a Director of the Confeience on Jewish Matetial Claims Against Germany Inc. which granted
£5,992,331 12021.. £4,432,229) to ihe charitable coinpany for providing support in grants to its mtn)bei's and as
contribution to the funding of its welfare activities.
Mr FA FlaTding is a Trustee, Mr A Spiro is the President and Mr AC Kaufinan is a Ineinber of the endowit)ent trust of
the Wiener Holocaust Library, which received a grant of£lOO,000 whicli was agre¢d in 2022 and treated as expenditui'e
iti this year's accounts.
Mr M Karp OBE is a Trusiee of IIET, which was awarded a three yeai. grant woiih £60,726 which was agreed in 2022
and ti'eated as expenditiire in this year's accoui)ts.
13. OPEIRATING LEASE COMMITMENTS
The charitable cojllpany's fiiture miniinuin operating lease payments ale as follow5..
Buildings
2022
Other
2022
Buildings
2021
Other
2021
Within one year
Between two to five yea13
Over five years
102,672
252,508
,334
2,335
99,681
J55.180
1.334
3,669
355,180
3,669
454,861
5,003
33

THE ASSOCIATION OF JEWISH REFUGEES (AJR)
NOTES TO THE ACCOUNTS {continlled)
FOR THE YEAR EIYDED 31 DECEMJIER 2022
14 STATEMENT OF FUNDS
Balance
l January
Jlalance
31 December
Incom¢
Expenditure
GRiMsllosses
on
investments
2022
2022
Uiireslrlcleilfiiiids
Gen¢r21 fiinds
23,698,850
2,517,570
13,012,641)
(2,256,325)
20,947.454
Re.wlricledfiiiids
Claims Confeience
URO
5,992,331
(5,992.331)
5.992.331
{5,992.331)
Compkrative
Balancc
l Janiiary
Balanee
31 Decemiber
Income
Expenditure
Gain51105se5
on
investments
2021
202]
Uiireslricleilfuiirfs
GeneTxI funds
23,867,982
625,588
13,003,428)
2,208.708
23,698,850 *
Resiricledfitiirfs
Claiins Conference
URO
4,434,543
(2,314)
(4,434,543)
2.314
4,432,229
14,432,229}
Included within general Thnds al'e revaluation of reseives of £2.3in {2022) and £6.2in12021) from historical inarket value
Restrleted fuiids
ClaFlPlS Con/&J.È￿C￿
the eliaritable company received or titats as IE¢eivable gi'ants from and tlu'ough the Claiins
confer￿nCe dui'ing the year amounting lo £5,992,331. This Irpresents a soiirte of gTant income which was disti'ibiiled
in accordance with the terins of the grants to qualifying needy individuals for specifie social pi'ojects Ilial ￿[£ in line
with the activities of the charitable coi?Ipany. They also assist with the welfaie progiamines run by the ch8ritable
company directed towards qU¢ilifyin¥ beTref]ciar￿eS and to conts'ibute to the costs of I'uniiing those prograiniiies.
URO - the charitable company received or treats as receivable grants from URO dui'ing the year to dish'ibute to
qualifying nccdy individiials io meet needs oulsidc of the scope of Claims Confeience grants, and its siipport for
specific social projects of the chai'itable coinpaiiy.
34

## **THE ASSOCIATION OF JEWISH REFUGEES (AJR)** 

## **NOTES TO THE ACCOUNTS (continued)** 

## **FOR THE YEAR ENDED 31 DECEMBER 2022** 

|**15.**|**ANALYSIS OF NET ASSETS**|**Unrestricted**|**Restricted**|**Total funds**|
|---|---|---|---|---|
||**BETWEEN FUNDS**|**funds**|**funds**|**2022**|
|||**£**|**£**|**£**|
||Tangible fixed assets|82,095|-|82,095|
||Investments|16,286,199|-|16,286,199|
||Current assets|6,526,675|-|6,526,675|
||Total liabilities|(1,947,515)|-|(1,947,515)|
|||------------------------|-------------------|------------------------|
||Total net assets|20,947,454|-|20,947,454|
|||===========|=========|===========|
||**Comparative**|**Unrestricted**|**Restricted**|**Total funds**|
|||**funds**|**funds**|**2021**|
|||**£**|**£**|**£**|
||Tangible fixed assets|105,059|-|105,059|
||Investments|20,488,196|-|20,488,196|
||Current assets|4,856,595|-|4,856,595|
||Total liabilities|(1,751,000)|-|(1,751,000)|
|||------------------------|-------------------|------------------------|
||Total net assets|23,698,850|-|23,698,850|
|||===========|=========|===========|



## **16. PENSION SCHEME** 

The charitable company contributes to the personal pension schemes of the employees. Contributions payable are charged to the Statement of Financial Activities.  The total cost of pensions incurred by the charitable company was £139,683 (2021: £137,104).  No amounts were outstanding to be paid as at the year end (2021: nil). 

- 35 - 



THE ASSOCIATION OF JLI WISH REI FUGEES {AJR)
ACKNOWLEI DGEMENT
The Tnjstees would like io acknowledge that..
Social 5eTvices for Nazi victiins have been SUPPDrted by a grant fiY)m the Conference on Jewish Material Claims
Aoainsi Gerjnany Inc.
Y v Claiiiis CoiifereIice
iy)Jni n1?yl
36-