IAJR The Association o* Jewish Refugees THE ASSOCIATION ofi JEIWIS14 RCI FUGELS IAJII) FINANCIAL STATEI MENTS FOR THEI YEAII CINDEI) 31 DECEMBER 2023 Chai'ity number: 1149882 Company Numbor: 08220991
TIIC ASSOCIA TION OF JLWISFI REfuGEES (AJRI IINANCIAL SI'ATLI NTS ",011 THE YEAII ENDEID 31 DECEI MBEI 112023 CON'I'EI NTS DETAILS AND ADVISORS TRUSTEES, REPORT 2- 17 STATEMENT OF TRUS'fEES' IIESPONSIBILLTIES Is INDEPENDENT AUDLI'OR'S IIE.PORI' STATEMENT OF FRNANCIAL ACTIVITIFS 22-23 BALANCF. S14EET 24 CASH FLOW STATEMENT 25 NO3"ES E"0 THC FINANCIAL STATEMENTS 26-36 ACKNOWLkDGEMENT 37
'I'H£ ASSOCIATAON ()fi JLPWISII REf4 UGE£I S (AJR) DIryAILS AND ADVISORS FOR TIIEI YEI AIIEINDEID 31 DEICEMBEI R 2023 s'rATUS Tli¢ AssoLialiun of J¢wi&li Ilefii&yeEs IAJR) is a iegisteird cliai'ity aiid COlDI)aiiyi liltted hy gii&i'aniec, and is i'egislercd in England aiid Wal(0822099l). It was incoi'poratcd and sel lip by a Mciiioiandiiin of AssL)¢ialion on 19 Sepleiiib¢i' 2012 iittd Rmended by special rcsoluEion oil 15 Noven)bci' 2012. 'flie clia¥ilablc ColpanY coniiiicnccd activiiies on l Jalliiaiy 2013. ORGANISATION Tlie clilii'iiable coinpany's strategy is sct Kind IMai)aged by tho Triistees, who are also ils direetoi's for tl)e piiiyoses of cotnpany law. -fil¢ Triigtees at the date of tliis repoi'l aic-. Mrs E ]¢1 Mrs G 61assinan Mr F A Hai'dit]g Mr A HellinAn (appoiiitcd 13 March 2(>241 r J Hocki)ian {apptsinted 14 M2¢ rcli 2023) Mr D Kalincl11 Mr M Kai'p OBL {Cliaii') Mr A C Kaiifinaii MBE Mis M Kiiigislcy MrSKon Mrs J Leiv (appointed 13 M&,.,l1 20241 Mr J Marks lappoinied 14 mai.cli 2023) Mr A Spiro OBE Mrs P Slraiiss Mr M J Wliitc IIEGISTF.IIVD OFfi ICC Win8ti)n Holis¢ 2 Dnlliq Park Loiidoti N3 IHF Clixrity i'egistyation number- 1149882 Company registrtIon number- 0822(1991 IIANKCI RS CAF Bunk Liinited Kiiigs Hill West Malling Keiil ME194TA INVLSTMII Nl. MANAGEIIS Railibonc Inv¢slti)enl M#nasFemeni Limited Riiffei. LLP 80 Vietoi'ia Strcel l.Dndon SWIE5JL Li)iidon EC2M 7AZ AUDI'foRS Haysiiiacintyre LLP 10 QLicen Sti'¢et Place London EC4R SAG
THE ASSOCIA TION OF JEWISII RBFUGEEI S (AJll) I'RUSTECI S, RC4 PORT FOR THE YEIAII KINDED 31 DEICEMBIR 2023 Tlie Trustees pres¢nt tlieir report and ¢li¢ audited flnancial slateiiicnts foi tlie ye1c r ¢nd¢d 31 December 2023. wl)ieli sliow Ilie sr1c te of the cli¢irilable coinpèiny's Affairs al Illat date and the incoine and ¢xpendiliirc for tlie year ihcn ended. S'I'IIUCTURE, COVLIiNANCE ANI) MANAG£1 MENT Ti'ustees Tlie lollowiiigi served as I'Nste¢s of Ilie cliaTsILible coini)any during thc y¢ai', and as Ineiiibers of the followin gLibcoinmillees, Ilnd reixain in office iinless otherwisc Siciled lis at tlic date Ihis report was approvcd.. MIE E Angel Mrs G GlasSlllcin ML F A 14ai'dRiig Mr J Hockinan Mr D KaliTran Mr M Karp Mr A C Kaiifillan Mrs M Kingsley MrSKon Mr J Mai'ks Mr A Spiro Mrs P Straiiss Mr M Wliit¢ 15,6.7) {81 11.2,3,6,7) (4,81 16,7,8) {2.5,6,7,81 15,6,7.91 11,3,6) 12,5,6.8,9) 13,61 12,4,5,6,7) (2,4,6.71 (1,3,4,91 l-, Meinbcr of Audit and Risk Cotiiiniltte 2.. Member of th¢ Investment Coiiiii)iltee 3.. Mcinber of Finance Coiminitlee 4., Meinber of Sclf-Aid Comii)ittee 5.. M¢Jnbei' ot Gi'tints Coi)Imitlc¢ 6.. Meiiiber of Strategy Coiiiini¢Éee 7.. Me]nb¢r of Non)iiiations Coi))inltl¢c 8. Meillbei. of Next G¢iieration Coinmittee 9.. Mcii)bei" of Leg>dtyy CoiiJ211ille Fiiian¢¢ and Audit and Risk Coininittee WelL coinbineil diiring Ihc year. Triistees are &ppoint¢d for a pe¥iod of foiii- ycars, aller wl)icli Iljey air i'cqiiirtd to bc Tc-elecled by d Vot¢ of nieiiibei's at tl)e following Anniial Eleclion M¢¢ting slioEild they wisli (o conliniie to serv¢. Tiiisi¢es cAn servc a iiiaxiniiiiii of Ihree tcniis. Ncw Tnistces ale rcqiiTred lo iindcrtake ali indii¢lion progr1 11)tne IrlalinLJ to the alin8 aiid objc¢livcs of Ilie cliaril8ble coinpatly. rlie baCk-011lld of its beii¢ficLAries (ind tlie systeiii% in place to dclivei. the seTVILC% 4)f tlie cliaritable coii)p4ny. Each Triisl¢e will be ieqiiired 10 denionsli'lc te siiitablo knowledkke oftl)¢ role fiiid of Llia¥ity Ii'iistc¢ship by exp¢ri¢nce oi. by training prior lo, or shc>rily aftEr, appoirtlinent. Tlie strat¢Ly polici¢s of tlie cliai'ilable coiiipany l< Ic d¢¢ided by tlic TrLisiees' tli¢ I'¢sponsibility for tlie exc¢iition of tliose policies is delegatcd its Ilie staff lcd by its kcy maiiageiiitynt Colisisling of th¢ Cliicf Execiitive, Mr. M Newinan OBE,, Slll)Pt)Ttcd by tl)e Fiiiance Director. Mi.. A Dansels, wlio i'eport regFiilarly 10 the Triist¢¢s. The pay of the Chief Executivc, Ilie Finance Diiectvr aiid all staff i9 reviewed anniially cind noniially inci'eased in Mcc()rdgiice w51h averir g¢ eaTnin£s to refle¢t a cost-of-livinLJ adjiistiiicnt and lo ei)sur¢ all eiiii)loyccs al'e reniiiiicrated ai not le%s tlian tlic nbtioi)al liviiig wage and ¢oinmcnsiii'&tE Wltli tlJ¢ Inl'ket l'ate for their i'espcctive I'oles. Tlie chai'itablc eompany lakes siiil8bl¢ piofegsionsLI giiidance in the dcleinii11lc tioi) of tlie ieiniineralion of its key tiianaLTtn)ent. Tlie Tiiislces considei. the iiiatter of Triist¢e successioii ai)d wlici'e possible co-opt volunteers iviih suitable kiiowledge and cxp¢i'iencc to tlieiii tts Inei)Ibcrs of coininiitees con8iderin&N inalt¢rs relevant to Ilieir skillset and qiialificalions &s a precui%or to possible fitll Tnislc¢ bnard meiiibergliip. STncc 2(119 tlie Triislees h*ve cnlianced tlie g7ovei'nance i¢gime by ereatingN fiirtlier coikniniltees of TTuslce5 aiid suitabl¢ volunteers l¢o-opted Inciiibei%l to iJian> Ihe aff<iirs of Ilie clia¥ilable company. Tli¢se i'em¢lin iti ce and cover..
THE ASSOCIATION OFJEWISH RLIDUGEES (AJR) TRUSTCr ES, REPORT IOR THE YEAR ENDLID 31 DCICEMBEIR 2023 (Contiiiuedl SI'IIUCTURE. GOVERNANCE AND MANAGEMENT (eontinued) Audit Risk Ai)points external aiidilor, oveisees iiudit i)rocess. oversees slatiitoiy and Tegulatoi'y reports, monitors risk manag¢ment Moiiitor% fiiiancial performanc¢, oversees biidgcl an(1 llssei Inanagein¢nt Oversecs all(l approves Ertiiits Inade foi. ediication&l pui'poses Oversees aiid *)pproves use ot-coiiipany funds ltii- cliarilablc gi'Rnls to individiial bencfieiai'ies Grant5 S¢lf - Aid StTalegy Dii'cct6 long term 5ti'ategy of ilie charitabl¢ coitipany Approves ili¢ noniination of new Triistees and Loinmitlee n)eillbei Sets iijvestmenl policy; appoint8, diTects, and Ion510r$ professional fiind managers to Inhnage tlie Jnarkcl investiiiei)ts of Ilie thai'ilable coinpany Noniinations Investiiient N¢xt Genercltio Devises tactics and plans evBiits', t)c¢iviiies, and i)rojccts to engage willi desc¢ndat)Is of HolocAllSt refiigees aiid suivivors Legacy Monitoj's tlie i)Togress of legacies- deYisc8 legacy &WrentS$ cainpaigns Ilisks 2nd internal Colltrols Tlie Tiustees ar¢ responsible foi. cnsurin¥ that EffeLtiv¥ and ¢ideqii&lL riyk iii#iiagEiiieiil aiid iiit¢riial coijti-ol systeiiis are in place to niAnage tlie iii&joi risk5 to wlii¢li tlie cl)arit&iblL comptiiiy is expos¢d. 11 cairjes this oiit by nionitoi'ing tli cffectivenes.4 of tlie i'isk i))AnagJeinenl Iramcwoik. 1.he I'iiin¢work is designed 10 SllPPDrl infai'iiied decisiL)n Inaking reLldrding the I'isks thai affeci IlJe ¢ibilily of Ilie cliaritable Coinglly to iicI)i¢ve ils objeclivcs. TIIL Iraii)ework is dcsibFned to Inaiiage, Tt)Ilici' Ihan eliiiiiiiate, the I'isks lo Il)¢ ¢liarilable coJiipAny's objectives and to pi'ovide reasonablc. biit no( absoliilc, dssurance aY111L Inaterial inisstÉltcii)enl or lobs. Wiiliin the fraincwtsi'k, Ilie PTiiicipal risks 42nd uiiceTtainties whicli have bccn identified, togeihei. witl) Ilie actiong lakcn Its mitigAie Iliein, are as follows.. Ili5k identifi1 Actlon t%kLn to miti te tlie i'isk Inviline[t Investineiits made by the cliaYii&ble company not effectively 11)anaged oi. perforin pooi'ly wl)ich lead5 to i'e(liictlOll in funding tliat wvuld be aViG ilable to suppoi't the objectives of the charitable LoinpdTIy. Use of approved inveslmei)t couiiteipillties within appi'oved finaiicial liinits roui)led witli a cleai. investlliliit policy focused on delivering i'tlLlI'I)s And filnds fDI' the charitdble Gompany's sti'ale#i¢ objectives. I'he liivestn)enl Coinmittee r¢gularly revÉews the inve8iinE&It poi'ifolEo to&¥eiliei' with the invcsttnent nianRg)crs &iid rcpoi'rs regularly to the'l i'LlStee5. Clalms Conferenee: 'I'lie cliai'itable coinpany siiffei3 a Teduciioii iii fiiiiding fi'om Ili¢ Conferencc on Jewish Malei'ial Claitns AgL2inst Gei'inany Inc. ("Claiiiis Conference"), wliicli leads to lowei. fiFiidiiig availablc 10 both the L113ritable coini)Any's beneficiai'ies and tliose of olliei- c1gcnct¢g Iiid charities witliin the UK Ui)Ibi¥lla Group I"Aocnci¢s") wliicli tlie cl)aritablc CL)iiipany leads. A tonstanl aiid constructive dialogiie is iM4itilained with tlie clai1S Conferencc lo ellsiiie Iliat Internal conti'ols and compliance iiieet tl)c conditSOn5 iilli)oscd, coiiijled ivitli botli s'iatiitory aiidit and Claims Coiiferencc alidils.
'rHE ASSOCIA TION OF JEI WISH IiEFUGEI ES IAJR) TRUSTEEI S, IIEPORI. riOR I'JIE YEAR LNDED 31 DEI MBER 2023 {Continii¢dl STRUCTURE, GOVERNANCE AND tVlANAG£I Mri NT {eontinutdl ftisks InteJ'nThl controls (tojktinued) Risk identifjed Action t&ken to tniti ale tlie ri$k Tlie inability to i'ecovcr gi'ant fiindingy Jiiade by Ilie charity to beiJefEciaries aiid to Ilic AgencEes' beiieficiai'i¢s Ill advance Df receipt of iiioiiies from the Clainis Confer¢n¢¢. Controls are in placc liiieliiding rcLTrU1i I. liaison), couplcd witli ¢iudil style rcviews, ov¢r the Agtncics. owii beneficiary dociiin¢nlalion lo en5Lirc that Claijns Cunferenee coiidilioDs al'e nict. An indejnnity (Iir8ng¢ment iq ill place to protect tlic cli£iril42blE company in tlie event Iliat tlie Agencies do comply with tlie Itlcvant conditions. In Mai'cl) 2023. th¢ bilatcral agi'eements witli tl)e Agencics wei"e reviewed, Iipdatcd, and ie-signed and afford tlie ¢hurildble company gieatei. piDl¢ction from Ihc risks in disbursing Claiii)s Conference fiinds. Gi'ants Tli¢ charit)blc compaiiy is uncil)Ic to SUPPDTt ils objeclives bc¢Aiise of a tailur¢ properly its control grants 81)d awards made froi)i its own funds. Conth'ols (boil) biidgetary and in lenns of obje¢tivc) are in place to ciiaiire propel. scItInY of all api)Iic2ltions made lo the chai'ilablc coiiipany for siippoi'l Itok)cihcr with APPTOPI'iat¢ follow up post awar(l), wl)ether tl)Ls¥ iii repect of ediicational projects or financial award.% for beneficiaries bcyond tl)al provided fi'on) Claiii)s Confereiice Inonics. Reputation Events wlii¢h Ihay cidvcrs¢ly affect tlie cliaritable coinpany's repiilalioii diid operatiofis. Tliese could include a sei'ioii% dala seG15l'lty breacli fioin cyber- Rlliick oi. i)on-ci)InpliHiice willi data prolcction laws. a Policies and praclices al'e sct i))onitored by s¢nior Inanageinenl ¢ind tlie l-rustees, inelLidiiig an organisalioj) wide risk in£111<ig¢ii)eiit progi'atiiinc, wliich includes &Jili- fi'diid pi'ocesses dn£1 ctsntrols as wcll as conipielicsisiv¢ (iainiiig and clW¢iiet)css progi'ainiiics for 17 staff. Tliis incliides data i)rolection Rnd sdfebFiiarding training &nd reininders. compai)y's hiiman resoiirLe P¥%Ctiees and bchavioLirs, or a si¥iiifi¢Éini heaiil) and gafety oi. safeguAI'din incident. Otli¢i' Tisks iiicliidc tlie [li1re to altricct. develop and taIn talcnted staff and tlic inabiliry to Tecruit siifficicnl iiuinbe15 of volunteers. Infoi'niation ¥ebiirity policies #iid pi-ocediii'es are in plac¢ whicli includc scciiriiy i)al¢l)iiiL, vulnerability scanning, p¢n¢lration Iesling and tlie 115¢ of ttnli-virLlS softwarc. Dedicated SPLcialisi resources Iiie iiged foi- safcgii¢irding. data seciirily, licaltli, hi)d safety, T&lent manageineiit. voliinteer acqiiisition and mani¢ gyeii)¢t)t togetlierwiili succession planning prograinnies are in pla. Regiilar Yevicws aye uiidci'iakLn of rectlitltnent and r¢soiii'cing pioccsses. witli b¢n¢liniarking underl&k¢n of coinpensatioii iicross key disciplincs.
THK ASSOCIAI'ION ofi JEWISH REI fiUeyEIES {AJR)
TRUS'I'EI Li S, REI PORT (continued)
riOR THC YEIAII £IND£ID 31 DCI CEIMBEIR 202J
STRUCTURE, GOVERNANCL ANI) MANAGEMCINT (¢onlii)ue(11
Connected pArties
'riie chai'it&bl¢ ¢oini)yiiy lias slrong links wilh tl)e fDllowing oiBani5atlDns with wliicli WOTking relationsliip5 h&vc beeEL
cslablislicd or ¢Utslinued'.
nlsfition
Work httivit5e$
N&tui'e of relationshl
Claiins Confer¢nLe
Negotiating witli Germany and Austi'ia on
beliaifol. HolocaL15I siirvivois £ind
I"efiigee5.
1-Iie Cliief Exeeiitive sits on tIEe Bot)rd
of D%rcLIoi'b.
Uiiiltd Restittition OYL¥Anisatioi)
l)i'ovision of ftinds to Ul< resident victtn)s
of Na7.1 oppssion of Gcriknan origin.
Strong ongoingy rela¢iot)sliip
(URO)
Wiener HoloL4iisl Library
One of Ilie world'g let)cling 1110st
extcn5ivc ar¢l)ives on tli¢ Holocaiist atid
Nazi cra.
Oiie Triistce is a membcr of ihe Board
of Ti'usltes, one Trustee is a iiieinber
of Ilie EndowTiienl'f¥ust, and one
Ti'iislee is Joini Pressdeiil.
-loloeaiisl Ediicationi¢ I'frusl
(HETI
Woi'ks to engiire Iliftt people fN)i)) evci'y
bmckgroiind are educated abolit the
14olocaiTrsl.
I'l)e Cl)air of Trusiees is a Triislee of
Dctails of ITrtnsaeiitsiis with Iliese Drganisations arc s¢1 oiit the notes to tl)e accouTkts.
oiiJi;, crivES, ACTIVITICI S AND PUIILIC BEI NEI fi I'r
Tlic Inain L)bjective& of Ihe eli&riiable con)pèiny are to i)rovide %uppoil to ils bcii¢fi¢i%i'i¢% who at'¢ J¢wisli siirvivors of, and
r¢fugc¢s fi'om, Nazi oppression nd tlieii. dcijcndcnls expei'ieiiciiJg illness nd fix21ry, lo rtliev¢ tlieir f%nAr*cial dÈsti'esg' to
organise social activilics and 10 pi'ovidc gii'anls lo pron)oie ediication abolit, and coiiiineii)oration of, tlie Holocaiist t)nd
r¢laled inatlers.
Diirin¥ the yC
THE ASSOCIATION OFJEWISII REFUGLI FS (AJR)
TRUSTEI ES, IILPORT (eontinued)
IOR T14E YEAR ENDLI D 31 DEICEMBEI 112023
OBJECI'IVES, ACTIVITIES AND PUBLIC BCI NEFII- (contiiiuedl
Tlie ¢liarital)Ic coi))pany uses voliinteers io siipport its social and oiitreach activittes. VolLinleers visil Jiid call iiicmb¢i's I
mitigate isolation and to &8si81 IJ learn2l p#iliLiilai'ly in relation to tlie it of inforJMat50n teclinoltsgy. More Ilian 250
volIEnltci's provided appi'oxiinatLly 15,000 liours of visit liine, siii)pleinenting Ilie social sei'vice toain by ilic equivalent of
3 fiill time aiid outi'each sraff. Volunteers 4s%ist with the delivery of soci()l events and lielp out at head officc.
Grant malciiig polity
l-l)e clmritable coinpany disbiir5ed sooial wclfaie grai)Is 10 individual AJR I)1¢511ber&' wliose reqiiests wei-c consid¢ied on a
eAse-by-ea&c bi18iS, siibject to eacli grant being for a piirposc in line willi the objectives of the chai'it
THE ASSOCIATION OF JfiWISH It£UGLIs {AJII) TRUSI'EES, IIEPORT (Continued) 4 OR THE YEI AR ENDEI D JI Dri CTr:MIIEII 2023 ACHIEVfi MENTS AND PERFORMANCE Tlie financial.%tateinciits for thc ycai. ¢ii(Icd 31 Dtccinber 2023 show a nct i'ediiction in fi]nds of £1.576k12022'. rediiction £2,751 k}. 1112023 tliere was significant incoii)e froii) legacies, pai'lially oftseiby invesiinent losscg.. 111 2022 tlic iiivestiilents Iiad mad¢ ll Signif¢nt loss. The operatiiig defieieney before investinent losses was £1.4m {2022.' £0.5in). Social work and admiiiisirative activity were delivered botli in-pei'son and ren)otely.' Th¢ SaCi£21 work tcain-lnaintained continuity of sei'vice Ilirougli in-pcrson visits. lelepliDlliC aiid virtual meihods. Regional Groiiploiitrc#ch progi'uiiiincs wcre a Imixtiirc of iii-pcrsoii lid viittial eveiits A weekly e-newsletter was publislied wliicli giEaily sti'engtheiied the con)n)Iinication cl)annel lo Inenibers Rnd SLlPI)oried partiuipaiion in online heiivity. AimonLY Élie notabl¢ and liigh-pi'ofile events Ihe charitable coiiipany orgai)ised was an Lvent cxplorinLF tlie i)eTSI)ective5 or dcscendèiiits of Gci'niaii Jewish Irfiigees on 11 cqiiiring Gerint)i) ciliiensliip featui'inb thc participatEon of Matt Liicas and David Baddiel.
THE ASSOCIATION ofi JEWISH REFUGEES (AJR) TRUS'fEES' REPORI. {con¢inued} FOR THF YEAR ENDLD 311)FCEMBER 2023 ACHIEVEMEIIYTS AND PEI RFORMANCE (continued) Tlie cliarily coiitiniied to grow ils infliienee by OTganising aiid Iiosling a confcrcncc on Holocaust testimony at Lancaster House atiendcd by m¢mb¢rs of HM Govcrnincnl and acadcniics froiii aroiind Il)e globe. Ai Ilie te.stiiiiony conf¢rcnce Ilic UK Sp¢cial Envoy foi. Post-Holocaiist issiics. Lord Pickles announced ihe laiincli of the Holocaii&l lesliinotjy portic I working LTroup. Il)al will sec Ilic AJR biiild a resource Iliroiigh wl)icli Inultipl¢ audicnccs will bc able to access sevei'al collections of Holocaiisl testiiiiony. i¥.
THE ASSOCIATION Ob JEWISH REFUGF.ES (AJII} TRUSI'LEI S, 11[4 PORT {eontinued) FOR THE VEAII CINDEI D 31 DECC4 MBEII 2023 ACHIEIVEI MENI'S AND PERFORMANCE (continued) In O¢tob¢r. AJli110sted its annual tca. Pictiircd b¢low air a niimber of oiii. fIrst-eneration iiieinbcrs who all¢ndcd the event ai the Stone X stadiiijn. l.AJR, .'1
THE ASSOCIATION OF JCIWISH REfiUGEES IAJR) TIIUSTEES, IIEPOIIT {¢ontinued) FOII THE YEAR ENDED 31 DECEI MBEI R 2023 ACHIEVEMEN'I'S AND PERbOIIMANCE (Continued) In Noveii)ber wc iiiarkcd Ilic 85, aiinivcrsaTy of Ki'istalliiaclil aiid Triad tlic lionoiir of wclcoti)itig liis Majesty Kiiig Chcirle5 to Iiiccl AJR Inciiibcrs wl)o caii)e lo tl)c UK on Ilic Kindcrlrc1nspoil. We were also honoiiTed that Ilie Cliief Rabbi Sir Epliraim Mirvis led oiir comimcn)orfilion service indertransport 851h Anniversary 1938-2023 _1/. AJR,,,,,
ry'HL ASSOCIATION ofi JEIWISH REfiUGEfiS {AJR) TRUSTEES, IIEI POIIT {eontlnued) FOII THE YEIAR ENDED 31 DECEMBEII 2023 ACHICI VEI M£1 NTS AND PERFORMAIYCE leontinued) 4ih
'rHE ASSOCIAI'ION OF JEWISH REFUGEES (AJR) TRUSTEEI S, REPOIII. (continued) FOlI'fHE YEI All EI NDLI D 31 DECLI MIILR 2(523 ACHICI VEI MENTS AND PERFOIiMANCL (continiiedl In Deceinber we niarked tlie start of 85 anniveTsary of tlie Kinderlianspoi'l, ¢oinii)ctiiorc1tingF tlie first Iransport of eliildren who arrivcd on 2 Deccjiibcr 1938, Earli¢r in Ili¢ ycai. Ilic Prcsidcnt of ilie BiindeslllgF visited Il)e Kinderlran5port Inoniini¢nt at Liv¢rpool Strect station. On tlie anniversni-y of the first Kinderliansport llrrivals. Ilie AJR tobFetliei' witli Woi'ld Jewisli Rclicf organised an event. also at Livcrpool StiEct station, 12
THE ASSOCIATION OF JEWISH REfiUGEI ES {AJR) 'rRUS'I'KEI S, REPORT (continued) roiiTHE YEI AR EI NDEI D 31 DECEMBEII 2023 ACHIEIVWMCI N'I'S AND PLIllFORMANCE leoiifinuedl TlicT¥115tcEs continue tD 11101)Itor invEslJiienl slrate¥y IliiN)Iigli tli¢ liivcstinent Comn)iiiee and tliroiigli qualified indep¢ndent advisois. £3,7in of Il)e investiii¢iil poi'ifolio of tli¢ ¢liarit4blc coinpt)ny is invesi¢d in a lowei. I'isk ab401iiic rciiirn flind Ic nd tliis, tobiclhcr willi its C<l511 reseives, pi'Dvide5 liqiiidity and fInancittl plteLl10n in tiines of iinsit)ble lirket conditions. Inipllct Tlie-I'i'ustees assess tlie siicccss of thc clJaYil4bl¢ Coinpatiy's activity in tei'ins of.. 'lie ovei?11 nuiiibEr ofmeinbers tliat it sllppoi'ls aiid tlic niitnber of Nttzi ViClin)s within the Umbrella Gi'oiip wlio bei)cfit fiDii) Ilic delivery of tlic welfare i)rograiiiine5 funded by the Claiins Confei'ence, the cliai'iiablc coinpat]y and tlie URO. The mainteiiatjce and et)hancemcnt of ils own weifaic g7Tant nl8kinB pi'obirdinnie. Attendances (both pliysically and vir(UAllyl al, and lakc iii) of, oiilreacli and soci&l i)roLYTainine5. Tlic level and freqiicnLy of S0¢iiil work visit% 10. 41nd assessin¢nls of, ils Ji)einbers. Tlie natiii'e ttnd qiialily of oiitPLII of the in&littttions wliose proj¢cls it fiinds foi. COTiiineinoiative rtnd ediicatEonal purposes. RcL'ords are niaiRtaitked wliich repoi'l on the level of social sei'vice visiL5', weific re kii'aTrrs paid aiid niinibers of Nazi victims xssistcd. Reports are available to tlie'ftS1tes, the Claiins LoJif¢rciicc 11nd key inembers of Inanabjcinent. RepoL-Is #nd u1)dteS ai'c rcqiicstcd frojii oi'E4inisations wliose edii¢ationJl <ind coii)ii)emoi'ative pi'oj¢cts the ¢hArilable coillpany filiids to detiionstr&ile tht grai)ts Bivei) are iistil eCfc¢livcly for Ilie piii'pose fo¥ wliicli tliey weie Iii&de. 13
I'HE ASSOCIATION OF JEWISH REfiUGEES IAJR) TRUSTEES, REPORT (contlnued) riOR THE YEAR ENDFD 31 DECEMBER 2023 ACHIEVEMCINTS AND PEI RFIORMANCE (continued) Over the yeai., Inembersliip has grown, with Ilic d¢clin¢ in tlie first-generalion nieinbersliip l)as b¢en inore Ilian offset by tlie growth in fiitur¢ gcnci'atioii Incii)bci'sl)ip. The Triistees recognsse this continuing sliift between gFenerations and will folS Ilie ¢liarily accordingly in tlic i)ionllis and yeai-s ahead. Total members for the perlod 2013.2023 15tOe 2r4Gvn 3rdI1hGÈn TlI1 3.auo I,$00 13 1,902 I,J)5 I.2 1,500 1,483 1,3n 1,168 i.0 9M 739 Diii'inb? tlie year, tlic charitabl¢ cotni)any's teain of social workeTS Lonsistiiig of 13.3 full liii)c equivalent staff. Inade in cxccss of 4,000 contacts by way of visiis oi. ieleplione calls lo Jiieinb¢rs nc¢ding support. In total, tl)¢ charitablc coinpany received grants relating lo ils own Ineinbers froii) Il)c Claiiiis Confei'ence anioiiiiting lo £6.5in12022.' £6.Oinl representinkF a continiiingj soiii'cc of gi'ant tn¢oinc for speLilic social project8 tlial were in line with the tietivitics of tl)os¢ organisations as dctailcd below. £5.7n) {2022.. £5.1 in) was dislribiilcd dii'ectly lo iiieinbers,. Ilic reimaindei. being a contribiitioii lowllrds the Lliarilable company's cost8 of adi)iiiiistcrinLF Ihe Umbrella Gi'oiip aiid disbiirsiiig welfare fiinds. A fiti'ilier £0.8in 12022.. £0.7inl was distribiited to over l 00 of tlie neediest m¢Jnb¢rs of tl)e cliaritable company as parl of it8 own wclfaic prograinii)c. Arisitig> fiDlI) its relationship witl) Ilie Claiims Coi)fLienLL. a total of £13.5n)12022.. £12.2IM) of Clèiinis Confci'ence futiding was adjiiiiiistered by tlie cliarilable coinpany on behalf uf ilsclf and otliei. aBcn¢ie8 in Ilie Uiiibi'ellèi Groiip incliiding the gi'ants sliown as restricted fiind incon)e and cxpendiliirc in thcse finaiicial slatcincnls. Of Ilie cibove £13.5in. £6.Siii Irlates dircctly lo Ili¢ ¢hai'ilable coii)pany's Ineinbei% and is i-enecled in Ilic fjiiancial 8tal¢inciils. Tlie5e I'iinds al'e use(1 lo siipport Reedy Jcwi5h victiins of Na7.1 perseciition witli Ilie provisioii uf caiers to eiiabl¢ Ili¢in lo Icimain in tl)eir owt] lioinc%, aiid lo assist willi Imcdical, Iioiising, transport and other urgent tJeed&. Tliese prograintii¢s liavc supported ii) excess of 400 victims of Nazi opprcssion diiring Ilie year. Tlle oiilreucli activity of Ilie cliaritablc coinpaiiy incliid¢d tlic holding of 285 meetings at which Ili¢rc were 3,785 individiirtl atlcndaticcs by Ineinbers across tl)e coiintry. In 2023, 52.000 addilionfil l)oiii¥ of caTe werc funded over 2022. In total 847,000 IIoiiTS of caiE were fiitidcd. Refugee Voices, thc charitablc coinpany's airl)ive of rccoiYi¢d and docuinented inteTviews with refug¢cs, created in 2003. eoniinLies 10 expaiid, with. to date, 289 first g¢ncralion interviews having been completed. 14
TIIE ASSOCIA'I'ION ()FJEWISH REFUGEEIS (AJRI I'IIUSTEI ES, REI PORT (continued) F()R THE YEAII KNDED JI DEICEMlllI R 2023 ACHIEVEMEN1'S AND PERPOIIMANCE leontinuedl Tlie Tnisiees are grateful for the ¢onsiderablc cfforls ttiade by Ilie cliaricable coinpaiiy's elp10YE¢S alld niiin¢iDus voliiiiteeis lo deliv¢r thc Iniiltiple achieveincnls desci'ibed abovc. Details of grants Inade for edLicaiiot)al purposes diiriiig the year were as follows.. BeTreficÈary Amount PiiJyos¢ of award grÈllltEd £39k Creating 14olocaLlSt resoiLTces for WElsli sLhrJols £SOk To &iii)port 11)e CO&ls of the Centre's leai'ning pi'OEraJiiine £50k Supi)ort The Joiimey oiitlEacli prOg1mine £17k To siipporl a prograinine to takc Icacl)crE to Yad V41sliein inlsrael £75k Towai'ds pi'ojecls of particular intei'est lo tl)e cliRI'itsLble ¢oii)P£iny Aberystwyth Univerkily Holocaiist C¢nlir Nortli Natioiial Holocaiisl Cenlie Mu8eLim Vison Schuols SLullaiid Wiener I lolocdLisI Library Otlicy £69k 'rolal £300k In total, £257k in grants wei'e distribiitcd in 2023 of wliicli £1 O8k were awai'dcd prioi. to 2023.
THE ASSOCIA TION ofi JEWISII RE¢ fiUGCI ES (AJII)
'RUSTCI ES, RE4 POIIT (continued)
roR THb' YkAII ENDEI D 31 DECEMBEI R 2023
INANCIAL IIEI VIEI W
SObA
Toi&l iiiLoiiic for 2023 was conSisnt willi Ih&t for 2022. althougli Il)ere weit ii)oveinentg in s'i)ccifits otilcb¥ories. Donaiions
gnd Icgacies 81 £1.4111 were down 280/0 &gainsi 2022. We do not biidget for leg)a¢i¢s nd are excepiionally gratefiil lo our
Inei)Ibers wlio reiiieiiibci. us in Ilicii. wills. Thc LFr#nt WL reccivcd froin thc Cl115 Conferciice lor 0r iiiembers w&s £6.Sni,
7/1 liiglier IliaTI 2022. Tliis ciiablcd lis to iii¢i'ei£ sc oiir gocial and w¢lfai'c actIvities,' in 2023 £9.2in WIIS spcnl on 50ci4l £lnd
w¢lfare aclivitics, an iti¢r¢ase of 90/0 against 2022.
Oiii. investinenrs inic de R sii)all loss of £0.2m in 2023 Loii)pared to a108s of £2.3in in 2022,
ResL'i'ves
At Ilie bknlince sl)eel dale. total ieserves siood at £19.4in12022,. £20.9nil. all of which is iii)restricied. Tlie Tiiislees seek to
ensiii'c tl)ttt ihc Icvel of resetves of the chai'iiable coiiipany ale siifficient lo fund Ilie provisioi) of its services for (lie
foi.esee7 blc fiittjre, independent ofgi'8nl inconie whicli is not giiaranieed.
Following a &tixtegie Teview tsf ils aclivElies aiid con)Inilinerts, the'l'riistees adopted a sITtegiC plan ii) 2019. Coiisideralion
Wtis givcii to the demograpl)Ic pi'of11e of ilie nielberS111i) orilie chai'itftble coinpany at)d how ilial was likely 10 change over
thc iiext icii yea¥s. Tl)e Tiiisiets considered Iliat tlie cl)rtritable CDlI)pany had siirricieni reseives to n)e¢t its. chai'itable
objectivcs for tlie foresLeable fiiiiire.
Inve5tnTrent polity
Tl)e policy of Ilic ¢liaritablc ¢oiiipany is io relaii) caslj b
T14E ASSOCIATION or JEWISH IIEfiUGLI FS (AJII) TRUSTEI ES. IIEPOR'f (eontiiiiieil) FOII THE YEAR EI NDED 31 Dri CCI MBER 2023 I INANCIAL IIEVIEI W Icoiitinued) FUTURI PLANS It is intenLled tliat tlie cli&rilable CDinpany will conliniie to SLIPPOI'I tlie needs ot jewish vi¢tiiiis of NA£1 01)i)ression willi a range of &crvices and to &upiiort 7¢ ppa'opriate ediicaiional and Ltrininenioialive initiatives i'eltktitig> to t15c Holocaust. Diii'ing 2018. the Tiiistces decided to bdiyy olit a Iiill lonb-tei'ii) sliytegic ieview lo dct¢rmine Ilie iiattji'e Df its oper£ltions. A tliird-parly ¢onsiiltant was appoinied tL) facilTlÉtte tliis i'cview è)nd woi-k coinin¢n¢ed during Iliat yeai. wliicli Loncliided diii'iIiLY 2O19, 'ri)e strateEiC review lills b¢cii rel'reslied Itind wtis agaii) reviewed ill botli 2022 ai)d 211231 aiid it was agreed Ihat the stiategic focus of the charitable cojnpany will coiitinue 10 be-. Siipporting tlie Firsl Genei-ation of s111'vivors ai)d iefiigees DcvLlopinbF sei'vices Rnd activities for Ilic Sccond and SiibseqLient GeIier&tions Sponsoring HDlocaLisI coniincinoi'ation. teacliinLF and 1¢al1N. In 2024 work began to rcvicw tlie stratcgi¢ plan. willi the aini ol'adopting a neiv plan in tlie aiitiitnii of 2024,
THE ASSOCIATION OFJEWISH RC4 fiUGEIES (AJR) STATEMENI. OF I'RUSTEEI S, RE4 SPONSIBILITI£S I'lie Tist¢eS Iwlio al'e also the Directors of Thc Association of Jewisli RefiiLTees IAJR) ftrL' Ilie pl1$¢$ of coinpany law) al'e iEspon%ible for pi'eparing Ilie'fi-listccs, r¢w&'t aiid tl)e fEtJallciRI stateinents in accoi'dancL witl) applicable law ai)d UK ao¢ottnting standhrds (United Kiiigilom Generally AcLcpted ALcoLinting Pric Ctice). Cliarity law i'eqiiires the I'rustees ¢0 i)r¢i)are fjiiaiicial stalcinents for cacli fii)a¥i¢i&l yecll. wl)ich give A I¥Lie ai)d fair view of tli¢ stst¢ of affairs of the charitable compL2ny and Df ilie incoiniiig Tesoiirces and applictttion of resources, incliiding tlie incoine and oxpcndiiiire, of the cl)arilal>lc coini)aiiy for tliat period. In pjepai'ing Ilicse fiiiancial slateinenis, tl)e Tnislees are irquired to.. Sclcct siiit8ble accoiii)tinL polioics Aiid tl)en apply them consisl¢ntly' Obs¢rv¢ tlic ii)tLliods and pi'iiiciples in rhe Chai'ities SORP: Makc jiidgJi)Icnts' and estiiiiales Ilial ar¢ ieasonable and piwdenl., State wlictlici. applicable UK acco¥ii)ting standards have been followed, siibjcct to any inaiei'ial deptvliires disclosed and explAintd in tl)e fitiancial statenienls. and Prepare the fJn4illcial stalcinenls (In the going concern basis Iinless it is inapi>iDPI'lalc to PlESLiine Ihai ihe cli£iritable coinpaiiy ivill LontiiJiie ii) biisiness. Tl)e ehaiilable coii)pai)y's inv¢slments and liqiiid resoiirces are such tliat at any ttime they cali bc Lonvcrt¢d intn cash thus etEable it to meei its lj£lbilitieg and coiiiiniliiicnts. Eis Iliey fall due. Tlic Tiiisteeg are i'esponsible for kccping adEqiiate accounting Iccords thAt ar¢ siiffieiei)t to sliow and explain the cliai'itablc Colpai}Y,$ trai)sactions and disclusc wirli reasonabl¢ IlCCilI'acy I2t aiiy tiiii¢ tli¢ financial position of tlie clial'itablc company and enable Ili¢in to ensure Iliat tlic financial siateincnls Loinply wilh (he ConipanÈes Acl 2006. 'lliey are also respoiisible for S¢ifegiiardingT tl)e assels urilie Lli¢ll'itabl¢ ¢oinp&iiy and hence for taking reasonable steps for rhe preventioii and dctcction of fi'aiid and oih¢i' ii'iegularities. Thc Ti'ustees are responsiblc for tlie n)aintenic nce dnd inlebji'ily of tlie corporate fin&nciiil info1.1atIO in¢lLided on the ch41ritable coinp¢iny's wcbsitc. Legislation in the Uiiitcd Kiiigdoiii governing tlie pi'epai'ation nd disscininatioii of financial statcinet)Is Inay differ frojii lcgiblaiion in other jiirisdictions. Thc Triistces l)Ave peiinitted tlic aiiditor Éo underiakc wlialcvci. ii)si)¢ctions il Consideis to be appropiiate for the PiiTPOSC of enabling thc auditor to givc tls ildil opinion. As far #s each of tl)e'l-ruste¢s is llwarc al the liime the rcpoi'l 1% api)roved.. tlicrc is no relevant aiidit iiiforin£ilion of wliicl) tlie cl)&ritable coini)xiiy's aiidito¥ is 111)EIWill'e- and Ihc Ti'ustees liave takEn all sieps tliat tliey oiiglit to havc taken 10 makL Iliei)Iselves aware of any relev¢inl aiidit iiiforiiiatioi) and lo eslablisli tlial Ihe aiiditoi's air awai'¢ of tl)at inloriii¥Ltion. APPIIOVAL Tliis report W£iS appj'oved by the Triistees on behalf by.. -and signed on Ilieir Ksrp OIIE Chairinan
IIYDEPENDEt NT AUDITOII'S Il£¢ PORT TO THE TRUSI'LI Ei S OTr. TIIL ASSOCIATION OF JEWISH REFUGLI ES {AJRI Opinion We liave aiidited tl)e fini2ncial stateinents of tlie Associi£lion of Jcwi%h Refiigces IAJRI for the year ended 31 Dc¢en)ber 2023, wliicl) coinpiise rhe Slal¢tn¢nt of Financial Acliv5ties. the Balancc Slicct, Cllsli Flow Sihteinent. and notcs to thc rinaiicial st¢lteiiients, iiicliidinkT a su21unaiy of significant accountin£ policies. Tlie financial reporting fi'aiiiework Iliat hag been tipplied in tlicir pirparalioii is applicable law and UnitLd KinLydoin Ac¢oiii)ting Siat)dards, incliiding FiiiancEAI Repoi'ling Siand<?Id 102 TliÉ liiiiopiciÉil Rgpoi'ltiig Sitindlljil ui)plicul)le iii ihe UKiipid Rvpiihlic gJliel(iiid (United Kingdojii Geiiei'ally Accepted AcLoiintiiig PTacticel. In oiir opinioii. tl)e financial slalcin¢nls'. give & tle and tair view of t]ie state of Ilie ¢hai'it2ble coiiipaiiy's affairs as at 31 Dcceinber 2023 and of tlie l)aritable coinpAny's net Inoveiiient in fund5, in¢liidEng tlJ¢ incoiiie ai)d expendittire, for tlie yer tlien cnd¢d. liave been i)101)erly prepaTed in accord<lnce ivitli Uiitted Killgdoim CJ¢ncrally Ac¢¢pled Accoiinting Praelicc,. and have beeA prepa¥ed in dLCOJN]an¢¢ witli the i'eqiiii'eLI)enrs of the Coinpanie5 Act 2006. Basts foi. opijiion We condii¢lcd out. aiidit in accoTdancc willi Interiiationttl Standards on Aiiditing {UK} (ISAS {UK)l and applicable law. OLII. re5ponsibilili¢s iindei. tliose standaTds arc fLlltI)ei'desci'ibed in tlie Auditoi s resi)onsibililies tor the Iiudit of tlic financial 51atemen15 Section of oily J'eporl. We are independcnt Df the chai'iiic ble company ii) ACCOI'daiice witll the et]iical iequii'eiii¢nts Ilial al'e relcv4111t io oiii. Audit of the fJnanci31 stdtcincnts tlie UK, ineliiding tlie FRC'S Ltiiical Standai'd, and wc hdV¢ fulfilled OLIF Otlicr ctlitcal r¢&pDnsibilities in accordaiiLe with these Tequiiei)ient%. We believe Iliat tlie audit evidciice wc l)ave oblaiCd 15 511ffi¢iciil atid appi'opi'iate to providc a basis for OLIT tsPIIIIOn. Contlusion$ rclgtinE to going cDneern In auditiJig7 tlie fini2ttcial slalcinci)ts, w¢11ov¢ ¢gncliided thai rlie Triisiees, iise oftlie going concem Kisis of accountiiig in tlie prep<llltioii of Éhe financial slateinents is appropriate. Based on Ilie woi'k we havc pci'foiiiicd, wc IiJ)ve not identified any inoleriql iinceriainties iEl¢lting to e%'ei)ts or Condilions t17t, iiidividiii£ Ily Di. collectively, i)iay cast sig)nificanl doLibi on tl)e cliariiable compttiiy's ability lo continiie as 41 going concern for & pei'iod of at least twelve iiionths frotii when tlic finmncidl glaLenieiiES are aiiilioi'ised foi. issiie. Oui. i'esponsibilitics and thc rcgponsibilities of tlie Trust¢cs witli r¢sp¢¢t to going conteill hre destTibed in the relevant secttons of tliis iepoi'l. Othei. iiiftsi'mjtion 'rhe'fi'iisteCS aTC rcspoiisible foi. tlie othei. infoniialion. Tl)c oth¢r inforinaiioii coniprise& Ihe iiiftsi'malion incliided in Ilie Triislees, Aiiniial Rcport. Oiir opinioii on the financial statcin¢nls (focs nol cover tlit L)Iher inforni&lion and. excepl lo Ihe extent othejwise cxi)lieitly stjied in oiii. ieport. we do iiol cxpr¢ss lly fonii ofa5sui'ane¢ concliision tliereoii. In connectioii witli oiir aiidit of tl)e fink)ncial slateim¢nts, oiii icsi)(Jn4ibilily is lo read Ihe Dihei. ÈiiloiThatlOll lld, in doin so, consider wlietlici. tlic o)tlici' infoiinaiion is Inatei'ially iiiconsisttynt Wlth tl)e financial stal¢iii¢nls, oi. our knowledsFe obtaÈned in tlie audit or otl)cmiisc appcar8 to be Inaterially niisstated. If w¢ idciilify siicli inklterial inconsistencies or appai'¢nl Inalei'ial ii)isstaiciiicnts, wc al'e i'eqiiiied to detennine wlietlier tIici'¢ Is tii&t¢rial Inisstat¢inent in Ili¢ fEnaiicial s1411eiA¢iils or a iiiatei'ial lilisstl leiiicilt of Ihe oiliei inforination. If. bcised Dn tlie work we l)avc pei'foi'iiicd, wc concliidc tl)at Iliere is a iiiaterial iiiisstatcinet)i of tliis other inloriiiation. we ar¢ reqiiircd to roi)oi'l tlial fact, W¢ liave noiliing lo rcporl in tliis i'eg&iYl.
INDEPENDKNT AUDITOR'S REPORT 1.0 THL'I'RUSTCES or TIIE ASSOCIATION OF JEIWISH REf4 UGEEI S (AJll) Ilpiiiions on otlicr matters pre5¢ribe(I by the Companies Act 2006 In oiir opiniots. based 011 tlie work iiiiilcrlaken in Ili¢ course of Ilit aiidsl.. tlie informalion giveji iIi tlie Trustces, Anniial Repoil (whicli incorporates iht sti'ategic report and tlie directors. report) foi. thc financicil year for whicli the finaiicial stateinents are i)IEpared is ¢onsisi¢nt witli tlie finaneial Staterneiits- and tli¢ slraltgie repoi't and tlic directors. I'eport incliided within tl)e -I'rLlStees' Anniial Ileport lias beei) prepared in ccoi'daiiee witli applicable IcLJ211 reqiiiiciiientg. Re$ponsibilities ¢Jf Ti'ustees foi. tlio fanaiieiAI staten)ents A5 expl£iiii¢d n)ore fillly in tlie 'fnistees' rcsponsibili(ies sitlLcineiit set out nn page 16, the I'rlisiees (wlio al'e also ilie directors (Jf tli¢ ¢liariiable coii)paiiy for tlie pui'poscs olLoini)hrty lawl ale itspoIisible foi. the prei)Etratioii of ihe financial sl£ltcinents dnd foi. beii)g gatisfied tlial they give a ITllC tind lair vieiv, tind for sucli inlei-n211 Loiiti-ol as the TTllStees detern)ine is necc5Sciry lo ei)able the i)Icparalion ol'fJnat]cial staieincnts. Il)Ai ai'c frce fi-om ihalerial iiiissiaieiiienl. wliethei- diie to fraiid or eiror. In Pl'eparing tlie financial stateii)ents, tlie Tiiist¢¢s tti'e responsible foi. asses8iiig (he charitable compai)y's ability to continue As x Lioiiig concern, disclosing, as applIcble, niaiiei-s Icl&ied to going eoncci-n And iising the going concei'n basis of accoiintTtILF Linless the Triisiees either intend lo liqiiidaie the el)ariiAble coittpany oi. to cettstr operationg, or ht)ve no TeAlistic alternative biit lo do so. Auditor's resptsnsibllltles for tlie audit of the finAn¢il $t:It¢ment$ OIiT objectives are lo obtain i-casonable assuyance abolit wlieilier the financial slatcinents wliol¢ ar¢ fite froiii n)aleTial iiiisslateiiient, whetlier diie to fiiiiid or eri'oi., and to issiie an aiidiloi s rcpoi't tl)at incliides oiii. 01)inion. R¢a.%i)nable aysiirance is a Iiigli level ol'assuiyiiLe biit is noi a guai'anlee tliat an audit condiicted in iiccordance witli ISA% (UT£I will iilway.E del¢ci a inatei'ial inigsiaieinent wlieii it exists. Misstatcincnls can &i'i.%¢ fiviii fTaiid or eiroi and are coll5idered inalerial if, individii&lly ui. in the aggregate. tiiey eDiild reasonJbly bc cxpcct¢d to itifliicncc Ili¢ cconoinic decisions of iiS¢TS laken oil the basis of tl)c&e f1rkahcli l %taieinents. Erregiilarilies, including fraud, are inslllnces of iion-coinpliance witl) laws and Ic&)Iilations. W¢ d¢siLyn pr()Lcdiii'es in line witli our Irsponsibilities. oiirlined above. to detect n)alcrial iiiisstal¢iiieJils iii i'csi)ccl of r¥cbviilarilics, incliidii)g fraLid. 1'h¢ extent to wljich oiij. procediii'cs 1.¢ cap£tble of detectingy irregiilaj'itics. iiicludinbs fi'aud is det4ilcd b¢low'. Based on our unde¥slanding of tlie cliariiable coinpany and the envii'oninent in wliiclTr it oper¢?t¢s. we identifi¢d that the i)rinctpAI t'iskg of non-coiiipliance witli law% reuNiil&iions relaied to Ilie legial und I'egul&lory IEqlllI'eii)eiils pei'tainii)g to rcgislcrtd cliarilits, and we con5idci.ed Ilic cxteiii IL) wliicli non-CDinpliJnce i)iiglil liav¢ a Inle1.1] el'lect on tlie financiic I stal¢inents. We alsD considci'ed th()se IAWS an(1 regiilAtioi)s that have a diiecl Iiiipact on tlie pirparalioii of Ilic fiii*nLial stilteinents sucli as tlic Conipanicg Aci 2006 and tlle Cl)arities Act 2011, and Dtlier taciors sucli as incoine lax lind payroll laxcs. We eviliiatcd Inanagcinciil'% inccntÈvc% an(1 opportunities foi. fraiidulent manipiilation of the financial st7 t¢tY)enls lincludinL Ili¢ risk of ovci'ridc of controls) and d¢l¢rinined tl)ai the principal tisks weie related ii)anual accoiintii)g journals. Aiidit l)IDcediires pei'foi'iiicd by tlic ¢ng&geineni team includeil.. Inspe¢iing coriespoi)denc¢ witl) i'¢giilaiors And tax AiiIIIoTlties', Disciissioiis with Iiiai)agement incliidinL7 coTrsider&lion of kiiown oi. siispecled inslaiices of non-coinpliance witli laws ai)d leilatIOn Jiid fi711d,. EvalLiaiing Inaiiageinont's conli'ols dc&igned to pi'evenl EItLd detect iiYebyii141rilies' Identifying and tesiiiig joiijnals, iii parliculai. jOUTnal entries po&led willi Uillisiial acLoiint Cotnbinalions, postingb by iiniisiial iisers oi. witli unusual descriptiuns. and Cl)allengiiig assiimptions dtid jiidgeineiils niade by ll)anagen)enl in Iheii- ci-itical accoiintinLTr cstiii)aie -20-
INDE4PCI NDlliNT AUDITOR'S RiLIPOIIT TO T14£ TRUSTEES OF THE ASS()CIATION OFJEWISH REf4 UGLES {AJRI A fvriher description of our r¢sponsibilit%es foi. tlic aiidit of Ilic financial slMteii)cnts is IoLdted oil thc Financial Repoiling Coiincil's wcbsitc al.. www.frc.OLg.iiklaiid%toi'si'espon.%ibiliiics. Tliis description forins pji'l of our auditoi's i-cport. B¢¢aiisc of tlie inherent limitationg of An aiidil, Ihffl'e is a risk tli&i we will not deiecl all iri.ei]di.itjes. including tliose l¢ailing lo a niateiial iiiisstaten)enl in tl)c fjnaiicial slateii)ents or non-coinpliaiJce with re1[allOi). I'liis i'isk ii)cieJses tlie Inoi'c Ilial ¢otiiplianee witlj %L law or TCg7iilalion ig reiiioved fi'oni tlie events aiid cransactions reflected in (lie financial $1£llcincnls. as w¢ will be IESS likely to becomc awllre of instAnces of not)-eoimplEaiice. Tlie I'isk is alstr kii'eater iEgarding ii'rcgiilarilics o¢¢iiri'tng due to fiaiid i?tl)er Ilitin ci'roi.. as fraud involves inieniional eoiicealmeni, foi'gery. collusion, oiiiission oi. Inisi'cpresentation. Use of our rei)ort 'rhis report 15 Inade bolely lo ili¢ charitabl¢ Loinijany's Mclbr$, lis <1 body, in aLcoilunc¢ with Clixptci. 3 of Parl 16 of ihe Coinpanies Act 2006. oiii. Aiidii woi'k been undci'lakcn so Iliat wc )iiiLylil .%tatc to tlic cl)ai'(tablc coiiipany's menibeiE tliose Inaltcl's WC <llC I'eqiiired to stale to Iheiii in an Aii(litor'b rci)or( and for no oihcr piiipose. To the lullegt extent pem)iited by law, we do ntst actcpl oi. assume responsibility to dnyonc otl)cr Ihaii thc ehaiitable eonipany And th¢ ehg*i'iiable coinpany's Inejnbers, as (I bDdy. for our aiidit work, for tliis I'cport, or for tli¢ opinions wc havc fonii¢d. Adaiii Fla15cy Isciiioi Sialiiiory Auditoi'l For And on belialf of Haysiiiaciiiiyi'e LLP, Stattiloi'y Aiiditors 10 Qiieeti Sii'eet Place Londo EC4R IAG 31July2024
THE ASSOCIATION OP JEIWISH IIEIIUGEI ES (AJII) STATEMEN'I, OF fiINANCIAL ACTIVITILS FOR THE YLAR ENDEID 31 DL1CMBBR2o23 2023 Total nds 2022 Unre$tritted R¢$trieted Funds Funds Note5 Income fi'oin.. Don(Ilions and legacies 1.418,IS8 1.966.227 Chaiilable activitics.. G14llts for welft)Ic work Soci&Trl aiJd welfaie aciivities Otlicr grant inconic 14 6,454,74S 6.454,748 8,652 18.023 5.992,311 11,a42 8,652 18,(123 SiibsGI'iPtions Investmeiits 45,611 511,524 45,611 511,524 42,617 497,684 Total 2,001,978 6,454,748 8,4S6,726 8,509.90 i.xpeiiditui.e on: Raising fiinds 62,242 62,242 65.696 Cliai'itable aotivities.. Social gind welfai'e &ctivities Ediicational activities 3,496,046 586.362 5.681.903 9,177,949 586.362 8.413,961 525,315 Sub total 4,144.650 5.681.903 9.X26.553 9,004,972 Claiins Conferenee overliead contribijtion 1772,8451 772,845 Tot%LI 3,371,805 6,454,748 9,82C).553 9,004,972 Nct cxptiidiliii'e beforc gains I losses on inv¢slinenls {1,369,8271 11,369.827} 1495,0711 Nel &iains I Ilossesl on invesin)ets {206.406) (206,406) 12,256,325) Ncl expenditure ind net move1ent In I'unds 11,576,233) 11.576,233) (2,751,396) RECONCILIA'flON OF fuNDS FUND BALANCF.S BROUGHI. FORWAIID 20,947,454 20,947,454 23,698,850 FUND IJAI.ANCES CARRIF.D roRWARD 19,171,221 19,371,221 20,947,454 All g&iiis and losses recognised in tlie year are incliided in tli¢ Siatemeiit of Finiiiicial Activities, All Irarsa¢lions are derived fix>m contlllLting aetivities. Tlie notes on PiibTeS 26 36 foriii part of Ilicsc fii)ttncial stateii)ents, 22-
THEI ASSOCIATION OFJEWJSH RCI fiUGEES {AJR) STAI'EMEINT or riINANCIAL ACTIVITIEIS FOlITEl YEIAR ENDEID 31 DC4 CEIMBER 2023 Comp&rative, for the year enilt(1 31 December 2022 2022 Unre%ti'ietcd Restrieteil riunds Totsl Fiinds Notes Income from: Donation5 and legia¢ECS 1,966,227 1,966,227 Chai-itable activities.. Grants lor welf<irc work SociAI and welfail ¢tclivilies 5.992,331 5,992 J31 11,042 11,042 Stibscriplions 42,617 42,617 InveslLnen15 497,684 497,684 TotAI 2,517,570 5,992.331 8,5()9,901 I xi)enditui'e on: Raising funds 65,696 C)5.696 Charitablec i CtTVlties-. Social atid welfai'e activitie5 rducatEonal activities 3,264.061 525.315 5,14¢),900 ,413.961 525,315 Sub totnl 3,855,072 5,149,900 9,004,972 Claims Collfei'ence oveTliead conli'ibiitio (842.4311 842,431 3,012,641 5,992,131 9,004,972 Nct ¢xpcndiliir¢ befoie gains on invcslinents 1495,0711 1495,0711 Nct Ljains I (losses} 01) *iivestmeiits 12,256,325) 12,256,325) Net expenditui'e and net Iiiovement i funds (2,751,396) 12,751.3961 RECONCILIATION OJI FUNDS FUND IIALANCCI S IIROUGHT JPORWARD 23.698,850 23,698,85f) TrUND BALANCES CARRIED FORWARD 20,947,454 20,947,454 23-
THL ASSOCIATION OF JEWISII REifiUGElIS (AJR) IIALANCE SHCI E'r AT 31 DECEMBEII 2023 Conipany Number: 08220991 2023 21)22 Notes IXED ASSEITS I'angible asseig Invessinenrs 58,170 16.04C),957 22,n95 16,286,199 16,lQ5,127 16.36R,294 CURRENT ASSEITS Debtors.. duc witl)in (Jiie yeaT Dcl)tOL3'. duc dft¢r oli¢ y¢ai' Cash tkt bank and it] l)and 10 10 4.184,677 27.120 1.820,244 3,274,06() 26,879 3,225,736 6.032,041 6,526,675 CUIIIICI NT LIABILITI ES: Cr¢dittsr¥'. amoiinls diie wiil)in un¢ y¢ar 12,765,947) 11,947,515) NKT CURRKNT ASSETS 3,266,094 4,579,160 NL'I. ASSLTS 19,371,221 20,947,454 ruNI)S Uiireslricled 14 19.371.221 20.947,454 Restricted 14 19.371,221 20,947,454 Approvcd and aiitlioi'is¢d for issii¢ by tl)c Ti'iisl¢es on èind sign¢d on thcii. bcliulf by., 2Q24 M Kdrp OBE Cl)aii-Inan Tlie notes on pages 26- 36 foi'iii ptiit of these fiiiancial stateineiifs. 24
THC ASSOCIATION ofi JEWISH RLTrUGLIES IAJR) CASH fiLOW STATEIMENT OR THC YEAR ENDED 31 DE4 CLI MBEII 2023 2023 2022 Caslj flows from JperAting nctivitlts.. Net eiish (iise(I In) operAtiiix activitics (see beltsiv) 11,940.1051 12,999,105) Cash fltsws I'rom ithvesting ietlvltles Dividciids and inlei'est froim investinenis. rental ii)coine an(1 oilier invesiinent iiicome Piircli&se of properly, plant and eqiiipinelll Procccds fitsiii 4alc ofii)v¢slrtienls Pili'cliTr sc of iHvtstinentg Moveimenl in cash awaitiiibF invesimet)r 511,524 {9,746) 12.355,794 (13,719.797) 1,396.838 497,685 110.313} 7,223,607 14,165.852) Net cash provided by rnvesting nctivitie$ 534,613 2,433,046 Chllnge in cash and eaili equivaleiits in tht yeai. 11,405,492) {566.0591 Cash d2iid casl) equivAlent$ at the beginning of the yeAr 3,225,736 3.791,795 Cash cusli equivAlents at end of the year 1,820,244 3,225,736 2023 2022 Net Cxpendliui'e f(Ir thL yefti. {per Statement of fiiniiiicial Activities) 11,576,233) {2,751,3961 Adjustinoiits lor.. Depieoiatioii DisposMI of taiigible fixed assets Lossos1(G¥tinsl on inveslinenis DivTdcnds and inieresi Ilncrefi5cydccrck)sc in debiors Inci'easelldcLichsel in ci'¢ditors 33,133 538 206,406 33,243 32 2,256,125 (497,6851 (2,236,139) 196,515 (910,8571 818,432 Net tgsli used In operatlllE Aetivities (1,940,105) 12,999,105) AJLalysis of tHsli and eftsh efjulv#lcnts 2023 2022 Cash ill l)and Notice dcposits {Ics's tlian 3 Inoi)Ihs) 820,244 I,o()o,00 2.225.736 I.ooD.000 1,820,244 3.225.736 'I'he notes 01) pagT¢s 26-36 Fol part of these fiiiill Jcjcil ¥lateiiitnts. 25-
THE AS8()CIATION OFJEWISII FUGEÉ IIS (AJR) NOTES TO THE ACCOUNTS FIOR THE YEI AR LINDVD 31 DECEMBEI R 2U23 ACCOUNTING POLICIES The principal ¢¢lint1[)B policies adopted, jiidgenieiits. and key soiirces of estiii)ation and iiiJccrtaiftry in the preparation of tlic financial stateiii¢nt% arc As follow5.' Ilasi5 of iireparatio 'riie fingncial staleinelltg. l)avc been PiEpared in accordance witli Accoiiiitii)&y and Reporting by Cliaritie5.' Sialemenl of kecointtiendcd Prdelicc wppliLable to cljai'itses pr¢i)¢ll'iiigtr tlieii. accoiintg. in accoidaiice witli Ilie Financial Reportin Standards ¥ipplicable in the UK &ii)d Rcpublic of lirland IFRS 1021- Cliariiies. SORP (FIIS 1021, s¢cond cdEtion- Octobei. 2019, and the Complliiies Act 20QI6. -rhe TrLisiecs havc as5C5sed tlie cliaritable conipany's I'eqiiiveinents foi. tli¢ ncai. future aiid ai'¢ confident tlial sufficicnt fiinds will bc availablc to enb]e opeTattons io continiie (lt a susiainAble Icv¢l for pcriod of ril least 12 Inonil)s frojii ilie date of aPPL'OVtil of tliese financial statein¢tils. The cli£iritable eoiiipally tllcretore coiilinEies to adopt tlie goi21g CQDC¢ basis in preparing its finmiicial statetntnts. 'fhe I nisl¢es consider Iliere ale iio mÉilerial iiiicei'lainlics aboiil tlie cliarilable coinpany's Abilily to continiLC as a going cohcern. Tl)¢ fiiiafjcial slaleinents do not include tlie adjiisttllEnts IliAt woiild leilt if Ilie chai'itnblc coinpany were unabl¢ to ¢onliniie as ¥L goii)g ¢oiic¢rn. 'fhe 2024 budxet fj'om Ihc Cluims ConfercncL lias bcen coi)firi)ied aiid casli flows pJ'odu¢ed lo tlie end ()12025. Piiblle bL¥rttfit Èntity -rhe Associaiioii of Jewish Rcliigces IAJIiI Ineets tlJ¢ definition oL'tt piiblLL bcDefit entity uiidcr FRS 102. Legal $tAtu$ The A&sociatEoii of Jewigli Refiig¢¢s {AJRI Is <1 Lon)paiiy liiniled by giiiJrintee wiiliout &liare capital. Ii) tli¢ cvenl ol. the c1)mrtable COlllP4TrAy beiiig woiiiid 111), Ilic liability iii J'¢&ptrLI gy112ii.diiitte ib liIniled 10 £1 per inenibej. of ilic ¢liaritAble COJIIP£llly. Critithl aecouiitRng judgements e$tim#tes Ill prcparing tliese fin<2ncial Siiilcmcnls, tlie frElStecs li&ve made jiidLJciiienis. esliint)Ics aiid assutnplioiis tlial affect tlie i)pliLatioii of tlie cliaritablL COI))Pally'.4 accoiinlinb policies an(1 Il)c r¢i)orled assers., litibilities, incoin¢, and exi)endElllI'e nd thc di8closui'¢q Inadc ii) tlic fin1£ nciic I $1<ileiiicnls. Esliniat¢& aiid jLidgyeinenis aic continu£illy evalii&lLd tire baged on hisloi-ical ¢xp¢i'i¢ncc aiid oilicr factors, inclii(ling expectations of fiitiiie evenrs Ilial tii'c believed lo bc rea5Dnable IindeT tlie cii'cuinstances. TlJe 11)nin Li'itical dc¢oiintiiig jiidgenient èind estiinate Ilie cliai'ity lias, ts the ieco&Inilton of legaci¢s intyoiiie. liicome All incoining resouiLes arc iiicliided iri tlie Slatei)ient of Fiiiai)cial Activities wliLlI the cli&rilabl¢ ¢onipl¢ ny ha5 cntitleinenl to inc(Iine. it is i)¥obable tliat tlje incojiie will b¢ r¢ccived, ai)d Ilie aiknoiint of inconie T¢c¢ivablc can be Ineasiii'ed reliably. Donations are xccoiintcd for iii the yeaT in wliicli Iliey are received. Legacies aie i'ecognised wli¢n Ilie critei.ia of eiiliileni¢nt and probabilly #ic met, and ihe l¢gaLy can be qil£intified witl) i'ea&oiiabl¢ aLcLllJCy. In deteJTr)ii1Ènb tlie mliiinis rcooLJnised at Ilie balance slieet date, tlie Iiiiglees liavc Irgard lo acliial ieceipts subscqiicnt to tlie balaiiLe slieet date togeili¢i' willi any oiliei. Evidence supi)ortii)g It¢og¥nition. Graiits ttre iecoLJniscd in fiill in tlie stateinenl of financial activilies in tlie year in wl)ich tlie cliai'itable comi)any l)Ms cntitlenient to Ilie incoime, and wlien Ilie an)oiiIil of iiilonie i'eceivable ean be Tnefisiii. i'eliably and t]iei'e is pi'obability of i'eceipl. Income duc froni legacies siibjeBt lo life tenancies is consideird L)ii the teiinination of tliose life tenanciL¥. Iiivestinenl incoine is iEcognised 011 u J'eceivable basis &nd wlien the ainounts can be nieasuic reliably. Dividends are I'¢cog)nised oncc tlie divsdend li*is been declared atld notifjeation lias bcen i'o¢¢ivcd that Ilie dividend is di1¢. 26-
TIIE ASSOCIATION OFJLWISH RLFUGEIEIS (AJR) IYOTES TO THE ACCOUN'I'S (¢ontinued) t{)R TIIE YII All ENDD:D 31 DEI CEMIILI R 2023 ACCOUNTING POLICIES (contlnued) I xpenditui'# Lsiibilities. including iii'ccovei?ble VAT, 81'c I'ecogni.scd expendiiiiiE as soon ¢15 t]Ici'c is a legal oi. eonst¥uctive obligation coniiiiitliDLy the eliaritablc LoiTripany lo tl)al ¢xi?cnditllTe and it is probable tliat sctil¢ii)enl ivill be ieqllired. alid the &iiioiinl of obligatinn can be 11)cagiired iyliably. Rai&ing funds CL)inprises 11)e costs associaicd willi LFcneiating voliinlaTy Iticoti)e and tlie ii)vestinent maiiageinehi fccs. Cl)aritable expendittire includes all direct expendittirc, includinu staff costs wliicl) arc dii'ecily g2tti'ibiilable itr activities, as well Ils grant expenditiire. Suppoi'l costs, wliich ii)Llii(le kFuvci-Jiaii¢e costs, are apportioned 10 cliai'iiable activitieg OJJ the basis or tijiie allocAtion of staff plrfoi'ming siipport fLillLtions. A siijxiiiaiy of suppoj'l COSIS is provid¢d in i)ote 6. Siippoi'tco$lS lirtve been allocated betweEn goveinance costs and oth¢T siipporl costs. Govenia#c¢ activities cojnprige organisational adininistl-<ilioii cojnplilincc with conslittitional at)d staliilory reqiiireiiicnts.. Cogls incliide dii'cci costs uf exiei'nal k)udil and pi'ofessional advice ii)cludinB IcgtLI fees. Grants payable are cl)drged to Ilie Statcineiii of Pinancial Aclivitics in Ilie yeai- in whTcli the offeis of siicli LTrTinls a]t made. Employee benefJt5 Short term benefits Shtsi'l ieiin benefits ineliiding lioliday pay &re recogniscd as an expense in thc p¢i'iod ii) wliicl) thc seTvice is rcccivcd. Emplayee tei'min&tion benefits Tei'inination b¢n¢fils are accoiinl¢d for oli aLLI-uals basis and iii line with FRS 102. Pension sche]¢ The AJll opcraicg a defined coniribution pcn%ion scheme loi. the benefil of ils eini)loy¢es. Tlic assels of tlie sclieinc arc lield ndei)cndently ti'om tlinsc of the cliarslable Lon)Iiany in an adiiiinistcr¢d ftiiid. I'he pensioii costs cliarg¢d ii) tlie finaiieial srk)teiY]¢iils i'¢present tlie coiili'Tbiititsns Piiyable diii'ing tlic ycai.. ioroign eurrtllcy trlIs1tion Tlic cl)aiilable coii)i)any's InCtiOn1)I and piesentation eurirney is pounds sterlinLy. Monelaiy assets and liabilities denoiiiiiiute(l in foieign cuireiicies arc IriiElated into sterlEiig at Ihe L'ates of ¢x¢liaJig¢ i'Liling lt Ilic btil(tnce slieet d&te. Tr2)nsaccions in forcign ¢iiirenLics arc rccni'dcd al Ilic rate rillig at t]ie dale of tlic transaction. All differences al'e J'ecogiiised in Ilie Statcu)cnt of Financial Activiti¢s. l)perating leses Opeiating lea5L rcntals are chaTbYtd lo Il)e Stalen)ent of Financial Activities on a sts'ai&ylit-line basis over the terin of the lease. I'angible fjxcd assets Tangible lixed asgels are aceountecf tor ilt histoi'ic cost Icss a PTOVlSlOI) foi. depireiation. Expendittire on eqiiipin¢tit in ¢xces5 of L300, with a iisable life of at l¢ast 4 years, 15 capitdlised as iangible tixed tissets. Depreciation DcprecialiDn is calciilated so as io write off the cost of tangible fixed assets as follows.. Offioe eqiiii)tnonl Website Leabchold iiiiprovcinenis 25Tr/ts Straiglit line 25ry/D Sti'aigylit line Over lifc of the lease 27-
THE ASSOCIATION OF JEWISH Rfi FUGEI ES (AJRI
NOTfi S 'l'O THE ACCOUNTS (coi)tinucdl
riOR THE YEAII EINDED 31 DECEMBEII 2023
ACCOUNTING POLICIES (coiitinued)
Investmeiits
Invcglinents arc li foiTh) ot basic fiiiancial i11si¥iiinenls and are initially sl)own in tli¢ finaticial siaieit)ents al ii)ark¢l
valuc. Moveincnl.8 in the market valiics of iiivc5tii)enis are sliown as Iini'¢ali¥cJ gJain& and losses in the St¢ltcii)cJit
ofFin4n¢i421 Activities.
Profits and 10sse5 on Ilie r¢Allslin of iiiwescments Are sliowii as realised galns and lo&scs in the Sialeineni of
Financial ALtivilies. Ilealiscd gains alid losses on inveslinet)Is retlcct th¢ differejice between sales pioceeds at)d
tlieir opening carryingT Yaliics or Ilieir piireliftse valiie It. acoiiiird siibseqiienl to tlie first day of tlic fii)&ncial year.
Unrealised gains and 105scs are calciilatcd as (lie differeiice belwe¢Ji tlic fair valiie at tlie yeai. end tlieir carrying
Vk)lue. Reuliscd and iiiirealiseo investiiicnl gaitts and losses If coil)biiied in Ilie Siateinent of FiiiiliiCi(Il Activities.
Finaneial 5nstrumentS
Tlic Cliarilable conipany only lias financial asscls Aiid financial liabilities of a kind ihai qualify as basic fini¢ ncial
inslriiineJ)ts. Basic financial insti'uiii¢nls, ÈtscIiTdinLY trade and oiliei. debtors crcditllTS. are iniliAlly recob?nis¢d
I Iranga¢lion valiic, and S'ubseqiiently i)i¢asiii'ed ilt tl)tir settlemeni valiie.
Debtor5
Pr¢pAyiiients arc valiied at tl)e amvunl prep
TIIE ASSOCIATION O* JEWISH IrUGEs IAJR) NO'TKS TO THC ACC()UNTS Icontinue(l) IOR THE YEIAII ENDED 31 DLCI,:MBL4 Il 2023 DONATIONS AND LEGACIES 2023 2022 Donations Lcgactes 40,628 1,377,540 185.532 1,780.695 1,418,16S 1,966,227 All doii£ltion% aiid legiaLies in ciirreiit aiid prior years weir Iinresti'icte(I, SOCIAL AND WEI LfARE ACTIVII'ICS 2023 2022 Me&ls Whccls L,vei)Is and outinLS AJR Joiirnal 177 3,221 5,254 6.638 2.514 1,890 8,652 11,042 All social and welfare activity incL¥iMC ill ciii'i'ei)i and pi'ioi. ycars itnreglriclcd. INVLiS'fMLI Nl. INCOME 2023 2022 Inlei'est receiyable Dividends 150,634 64,816 432,868 511,524 497,684 All investinent iiicoiiie in ciii'iri)t and pi'ioi. yctti's iinre%'trieted. 29-
THE ASSOCIATION ofi JCIWISH RLFUGEIES (AJR)
NOTES-ro'i'HE ACCOUNTS l¢ontinuedl
OR'fiiE YEAR ENDED 31 DLI CCI MJlli112023
XI'CI NDITURE
Other dii'ect
Suppoi't
cthsts
Direet staff
Grants
21J23
Sooial alld welfare
Day C¢nliE
Mcals Oll Wlieels
Oiilicacli groiips
AJR Joiiitial
1,069,225
6,480,838
595.822
8.188
285
86.331
89.857
634,569
4,846
8,95
30,417
20,915
8,780,4
13.034
26,497
247,192
110.772
17,262
130,444
Beneficinry servite5
,216,931
6,480,838
780.483
699,697
9,177.949
200,136
300,372
66.321
19,533
586,362
Cost ofrAising fiinds
54,971
7,271
62,242
1,417,067
6.7¥1.210
901.775
726,501
9,826,553
COMpr*lY¢
Other direct
Suppoi't
eosts
Dii'ECt 5t#fl
C¥r#nts
2022
Social &nd w¢lf&re
l)ay Centre
Meals on Wheels
Oiitreacl) giDLIPS
AJR Joiirttal
1,027,374
5.894.947
591,045
14.825
559,098
3,565
7,434
22,935
14,894
8.072,464
25,535
109,S26
43,070
178,795
101,243
46,034
86,349
BeneficSary scrvieL¥s
1,162,735
5,894,947
748,354
607,926
8,413,962
i
TIIE ASSOCIATION 01," JLWISH REfuGEbS {AJR) NOTES TO THE ACCOUNTS (contlnueil) FOII THE YC4 All Ei Nl)Tr'1) 3 1 DfCkMIIER 2023 EXPLI DI.1'u1IL IContÉThued) ANALYSIS 01,. GIIAN'I'S Gr4?nts t inslitution$ Cvrfint8 to indivRdui15 2023 Welfare i)i'ogi'aIi)In¢s Ediic£ltional ¢%Ctivities 36,2C)O 300.372 6,444,638 6.480.838 300.372 336,572 6,444,638 6.781.210 Compai'ative Grants to Institutions Gt'AElts to individuals 2022 Welfare progviJinines Cdii¢atiottal activities 36,200 277,163 5,858,747 5,894.947 277.163 313,36.1 5,858,747 6,172.110 Fiirilier inforination on giants to inslittslions is sot out in tlic Triistee reporl (pak>e 15). In 2023 Iliei'e were 288 I'ecipients of individiial grai)ts12022.. 3061, SUPPOll'f COSTS eals on WheL.15 Cthst of Soeial & Welf&i'e Day Ctnti'e Out- reach AJll JouJ'nAI Edut#tion I'unds 2023 Preii)ises 45.076 223 2.499 967 2,753 1911 51,716 Offi¢¢ adminislraiio Coiiimiinicaiions 452.516 2.747 4,527 16,329 9.342 9.935 4,174 499,570 &PR GovcrnRTIC¢ 102.610 34.368 2.080 19 4,160 11,093 40 496 10.400 206 5.546 1,298 2,773 126 13R,()62 36,553 I'otal 634.570 4,846 8.950 3Q.417 20.915 19,532 7.271 726,501 Meals Cost of r&i8ing fun(l$ Compar&tive Social & WeIf21'e Day Ceiitre Out- rench AJR JoiirnAI Edu¢atlon Whee15 2022 Pi'en)ises 42.850 ,145 2,349 967 4.493 182 51.98C) ()rric¢ administratio CoIi)IMiinications &PR 422.136 2.478 4.103 14,624 8,469 9.010 3,809 464.629 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 Goveriit)nct TotAI 559.098 3.565 7.433 22,935 14,894 17,430 5,528 630.883 Siipi)ori Costs al'e allocated to cl)aritable activitics b4scd on tiiM¢ allocation of staff pei'forining siipsx)rt fiinciions.
TIIE ASSOCIATION OF JC4WISH REFUGII ES IAJR) NOTES TO I-HE ACCOUNTS (continued) FOR I'Hfi YFAII ENDED 31 DECI,;MBER 2023 STAFF COSTS 2023 2022 Wages ¢lnd salarics Social seciii'ity ¢OS'Ig Pension cost5 1.801,460 173.051 155.226 1.720,003 183,899 139.683 2.129,717 2,043,585 AveiiigL niin)ber of persons employed during tlie year was 50 50 2023 2022 Tlie iiLiiiibEr of einployecg wliose eiiioluincnts in Ilie ye. exceeded £60,000 were-. £60.000- £69.999 £70,OtK) - £80,000 £80,0(K)- £89.999 £90,D(K) - £99,999 £14n,(K)0- £149,999 £I50,(O-£169,999 Ilension conlribiitiong paid on belitilf of tl)cse einployees atnoiintcd lo £42,30012022.. £27,482). The (¥ggregate r¢iniiiieration, iThcliEdinL pension ¢onÉi'ibiitions aiid ¥oLiJl s'ecurity costs, of the key personnel was £4E2.14S 12022.. £400.304). I'he Trustccs rcceived rTro e101171entS and £l.185 of ieiinbiirscd expLiises (2ts22'. nill. TANGIBLE filXF,D ASSCITS Len5ehDld property Website ()riice e4iiipmLnt Total Cost or vnluation At l Januaiy 2023 Additions Disposals 100,805 21,670 95,207 9,746 18341 217,682 9,746 1834) At 31 Deceinber 2023 ItK),805 21,670 104,119 226,594 Dcpi'eci&¢ion At l January 2021 Cliai'g¢ foi. tlie year Dispo%xls 62,626 10,oRI 21,328 342 51,633 22,710 1296) 5 35,587 33,133 1296} At 31 I)e¢einb£i' 2023 72.707 21,670 74,047 168,424 Net book value At 31 Deceinbei. 2023 28,Q98 3tJ,072 58,170 At 31 Decen)bei' 2022 38.178 342 43,575 82,095 32-
"rH£ ASSOCIATION ofi JEI WISH REfuGEES {AJR) NOTES I'o'fHC ACCOUNTS leontinued) OR THE YCIAR ENDF.D 31 DLCEI MBEII 2023 ",IXED ASSEIT INVEI SI'MLINTS 2023 2022 Quoleil investments Mai'kei valuc at l Januaiy 2023 Additions Disposals Investin¢nt gaiiisl{lossesl 14,680.554 9,994,633 13,719,797 4,165,852 112,355,794) (7,223,607) 1206,406} 12,25().3251 14,680,553 1,605,646 C&sh lield Ivllh investment mHnRgers 208,806 Market value at 31 December 2023 16,046,957 16,286,199 Hisloric¢il cost at J l Deccinber 2023 13,894,073 13,945,242 10. DEB'TOIIS 2023 2022 Balances wltljln onc year Pr#payi1¥IS Accriied legacies Accriied itsCOJllE Oihei. debtois 310,340 1,818,600 2,050,183 5,554 51,751 1,177,998 2,042,307 2,004 4,184,677 3,274,060 Ilalfiiice$ diie In niiire thThn oiie year Clidrildlil¢ loatis {see below) 27,120 26,879 4,211,797 3,300,939 Cliarit&ble104iis In liiniled circiiinsliE lices, the cl)arilable coinpany advance5 siinis to iieedy individuals, inteyest free, Isubjecl lo a forinal ¢llrg¢ iii i'elalion its larger loans) willi rcpayin¢t)t on ternis agrc¢d iii writiiig aiid appi'ov¢d in advAiicc in ClL cli ¢asc by th¢'l'riisices. 33
TIIE ASSOCIATION OTr JLWISII REifuGEEIS (AJR) NOI'EI S TO THE ACCOUN'fs (eontinucd) riOR THE YEAII FNDED 31 DECEMBER 2023 11. CREIDITORS 2023 2022 Amounts lalling due within one yeill. Reneficiic ry gi?ttls AccTLlcil% Otl)er laxcs dnd social s¢Liii'ily Grants payable to institiilions Deferred income {see bclowl 2,328,051 95,800 46,877 271,115 24,084 1,523,232 125,259 46,794 228,146 24,084 2,765,947 ,947,515 Def¢ri'Ed incoine relate5 lo siibsoripiion incoiiie and granl incoine ieceived iii &(Iv&iiicc. Tl)e aii)oiints defcri'ed each yeai. 8Te released to tlie Siateinent of Fii)antial Activities in tl)e followii)g year. Illl LA'fED PARTY TIIANSAcfioNS Mr M NewJiiat] OBL ES a Directoi of tl)e Coiifcrence i)n Jcwish Mcllcrial Cl#EIMs ALFkiin&l (ierindny Inc. wliicli grante(I £6,454,748 (2022.. £5.992,331 J to tlie cl)ai'itable coinpany for plvIdng siEpport iii gi'aiits lo ils nienibers and as contribiition to tlie funding of its welfai'e Activities. Mr FA Hai-diTig 15 41 TrLlStce. Mr A Spii'o is tlit Pregideiit and Mi. AC Kaiifiiiai) is a i))enibei' of tlie endowinent tl'LlSt of tlie Wien¢r Holo¢aiist l.ibiary, wl)icli Teccived & kir#iii of £75.0110 whicli way aLITCC(l in 2Q23 kind treated a5 exI)endilLire in tliis yecl1-'s d¢cuiinl8. Mr M Kayp OBE is a TrLlStee of HolocaLlSt Ediic£ltioll Tft1t. wliicli wa5 wl.ded a tjiirc-year Erant woiili £60.726 wlis¢li wab 11UiI'¢cd in 2022 and treated as cxpendsttlrc last year's accoiiiits. Mr. J Sirauss, the Iiusband of MTS P Sti'auss, 15 a Inembci. of Ilie Board uf Bclsize Square Syn&EOEIEe, wliicli lias becn. gianled £36,20f) {2()22.. £36.20UI towards tlie cost ot its social Work. 13. OPCIllATING LLIASI COMMITMCINTS The charitable Co1paI1Y's fiiknii-c Ininiiiiiim opeiating lease paymenis air As follows-, Bii51dinES 2023 Other 2023 Buildiiigs Otliei. 2022 2022 Within one yeai. Bctween two to five yeais Over five years 105.752 146.756 1,902 7,607 1,585 l U2,672 252,508 1.334 2.335 252.508 1.094 355,180 3.669 34-
TIIE ASSOCIATION OF JEI WISH REFUGLES (AJII) NO'rLs i'o'rHE ACCOUNTS {eontinutd) riOR THE YEAR ENDEI D 31 DECEMBEI Il 2023 14 s'fATCI MCI N'T OF JfuNDS Bnlance l Januskry Bal%nee 31 DeeÈmber Incoime i xi)enditure cain.10$$eS on iiivestmtnts 2023 2023 Uiiiesiricle(lJiiiids General fiinds 20,947,454 2,001,978 11,371.805) (206.40C)I 19,371.221 * ReslJ'icleilfiiiid& Claiins Cohfercn¢c URO 6,454,748 16,454,748) 6,454,748 16,454,748) Comparatlve Balanee 31 Dcccmbei. l JfiJJu&ry Ineome Expti)diture Ga1[0$$eS tbn investments 2022 2022 u11rtrICId¢l1I1¥dS Gellerl¢ I funds 23.698,850 2.517.570 13.012.641) (2,256,325) 2Q,947,454 * Res1i'iLtcl liiiirf Claims Confci'ciice uiio 5.992.331 15,)L 92.3311 5,992,331 15,992,331) In¢liided witl)in geiieral ftinds are revaluatioii of reserves of £2.2in12n23) and £2.3m {20221 froin hi$loi'i¢al markct valiie Ilesti'iciert fuThds CluiJii.s Coii[eFeF7ce the chai'iiable eoiiiptiiiy i'eeeived oi- Ircis ds ILceivable grants fi'oin Jnd Iliroiigl) tl)e Clcli2115 Coiiference during the yeai. ui))oiintinLy lo £6,454,748. Tl)is repiEsei)Is a source of gTant iiicoinc wliscli was disti'ibaited in accordance iviih tlie ieriiis ol. tlie girt)nts 10 qiialifying needy individLi&ls foi spccific sociJl pi'ojects Iliat are in line with the atttivitics of Ihe charitable coiiipllny. 'fiiey hlso ass'ibl witli the welfaie progTraiiiiiies nin by Il)e cliaritablc coinpany directed towards qiialifyingv bcn¢ficiaiios and to eonlribiile to Ihe cosis of iiinniTig Iliose prDLyraniines. URO - Ilie cl)ai'iiable eompany Yteeived or Ireai% ks receivable grants from URO diiring tlie year to distribute to qiialifying necdy individiiiL Ib lo Inc¢t necds oiitsidc of tlie SLope of Claiiiis Conference gr&iitg, aiid its support for specific social prDjecis of tl)e cli&ritable coinpdny. 35-
'I'IIL ASSOCIATI()N OF JEI WISH REFUGLI BS (AJII) NOTE4 S'I'O'I'HE ACCOUNTS (continued) 40R THEI Y[1 All ENDED JI DECEMIIFII 2023 15. ANALY,gis OF NET ASSLTS BIITWEI Ci N FUNDS Unrestrlcteil lunds Ilestricttd ftsnds Total funds 2023 ngible fixed assets Investmcnts 58.170 16,046.957 6,J32.041 12.765,947) 58,170 16,046,957 C),032,041 12,765,947) CLirret)t k)ssels Total liabilitics Total Tiet assets 19,371,221 19,371,221 Con)pai'14 tive Unrestrieted fiinds Resti'icted fiinds 'I'otnl funds 2022 '1'agIble fixed llssets liivesttnents 82,095 16.286,199 6,526,675 (1.947,515) 82,095 16,286,199 6,526,675 {1,947,5151 Ciirrent assets Toldl liabililies Total i)el assets 20.947.454 20.947.454 16. PENSION SCHEMI,. 1'h¢ ¢hai'itabl¢ company coiitrÈbiites to tlie PEI'sonal pension ChemieS of the eniployces. Conli'ibiitlolls P42yablc aic cliai'gcd lo Ili¢ Slaleiiient of Financial Activities. 'I'lie total cost of pensÉoi)s siiciirred by (lie cliarilablc coini)iiiiy was £155,226 {2022.. £139,683). No aii)oiints were oiitslanding lo b¢ at th¢ yCLir-end12n22'. ntl). 36-
THE ASSOCIATION OF JEWASII RLI FUGE4 ES (AJR) ACKNOWLCI DGEMEINT The Trustee5 would like to acknowlcdge tliat.. Social scrviocs for N7.1 victims liav¢ bcen siipporled by a gi'ant frtkiii tlie Conf¢rLnLc on Jewish Mat¢i'ial Claijns Agciinst Gerinany Inc. I v Claiiiis C.oiifei"ciicL niy>ini ni)y) 37-