Jewish Futures Trust Limited
(by guarantee)
Company number 07884678 Charity number 1151066
Trustees’ Report
And
Financial Statements
For the year ended
31 December 2021
Jewish Futures Trust Limited
| Contents | Page |
|---|---|
| Legal and administrative information | 1 |
| Trustees’ report | 2 – 7 |
| Auditors’ report | 8 – 10 |
| Statement of financial activities | 11 |
| Balance sheets | 12 – 13 |
| Cash flow | 14 |
| Notes to the financial statements | 15 - 27 |
Page 1
Jewish Futures Trust Limited
Legal and administrative information
Directors / Trustees
J Benarroch S Farhi D Hammelburger K Harris E Lee E Misrahi D Morris S Neerkin (resigned 5 March 2021) N Schiff D Sobel
Chief Executive Officer
N Schiff
Principal Address and Registered Office
379 Hendon Way London NW4 3LP
Details of Incorporation
The company was incorporated on 16 December 2011 in England under company registration number 07884678, and was registered with the Charity Commission on 4 March 2013, governed by its memorandum and articles of association, charity number 1151066.
Auditors
Crowe U.K. LLP Aquis House 49-51 Blagrave Street Reading Berkshire RG1 1PL
Bankers
National Westminster Bank Plc 5 Central Circus Hendon Central London NW4 3LE
Page 2
Jewish Futures Trust Limited
Trustees’ Report
The trustees, who are also directors of the charity for the purposes of the Companies Act, submit their annual report and the financial statements of the Jewish Futures Trust Group for the year ended 31 December 2021. The trustees confirm that the annual report and financial statements of the company comply with current statutory requirements, the requirements of the company’s governing document and the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2005.
Legal and administrative information set out on page 1 forms part of this report.
Structure, Governance and Finance
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 16 December 2011. The charity’s objects are set out below in the Charity’s Objectives and Activities.
The trustees, who are also the directors for the purpose of company law, and who served during the year are listed on page 1. None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. The Directors who served in the year were J Benarroch, S Farhi, D Hammelburger; K Harris; E Lee; E Misrahi; D Morris; S Neerkin; N Schiff and D Sobel.
The Board of Trustees is responsible for the overall governance, policy and strategic direction of Jewish Futures Trust. The members of the Board of Trustees have the legal responsibility for the operations of the charity and the use of resources in accordance with the objects of the charity. The appointment and training of a new trustee is subject to the oversight of current trustees.
There are no specific restrictions imposed by the governing document concerning the way the charity can operate.
Jewish Futures Trust has been a driving force in incubating and nurturing new educational initiatives and establishing and building other independent UK charities in the field of education and social action. These charities include Give It Forward Today, Jroots, Forum for Jewish Leadership, Chazak, Klal-Chazon, Aish Hatorah UK. In this respect, Jewish Futures Trust aims to encourage aspirational strategic thinking for each organisation as well as achieve effective economies of scale through the sharing of both innovation, resources and best practises between all the charities. During the course of the year the Company provided central head office services to the subsidiary charities as detailed in the notes to the accounts, at cost, to enable the group to benefit from economies of scale. It encouraged group charities to use the resources of sister charities to benefit from their expertise, in furtherance of each other’s’ charitable objectives.
Neil Schiff has helped to establish charities in USA and Israel (JFT – Jewish Futures Foundation Inc in USA and JFT Netzach in Israel), with similar public benefit objectives to develop educational, religious and cultural programmes. Jewish Futures Trust and sister charities are encouraged to undertake initiatives and activities in conjunction with these charities to mutually benefit each other.
Many hundreds of volunteers are identified and deployed across all of the group charities to fulfil some educational and operational activities such as in GIFT, whose prime objective is to encourage members of the public to give up their time to help other people, and in FJL, Aish and Chazak where part of their remits are to nurture youth leadership.
Charity’s Objectives and Activities
The principal objects of the charity are exclusively to further, for the public benefit, the following charitable purposes:
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The advancement of Jewish connection, education and culture;
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The sharing of values that build good citizenship, social responsibility and goodness in society;
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To generate and incubate new educational initiatives that will further ensure a vibrant Jewish future;
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The promotion of the efficiency and effectiveness of charities and effective use of charitable resources through the facilitation of both creative and operational synergies between educational charities sharing a similar outlook and approach, thereby availing considerable overhead savings and calling for sharing of best practice; and
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The furtherance of such other charitable purposes that the directors may from time to time in their absolute discretion think fit.
Page 3
Jewish Futures Trust Limited
Trustees’ Report (continued)
Initially the primary aim of the charity was only to educate young Jewish people in the UK. Over the past few years the educational remit has widened to allow for a broader spectrum of the community to benefit from the educational expertise and experience of the organisation. The core of the educational philosophy is to share with young people a sense of moral responsibility and ethical values that instil a sense of pride in Jewish heritage as well as upright citizenship in wider society. The charity goes about achieving this objective through regular educational, social and religious events across the UK, alongside numerous overseas educational programmes at key points in the year.
Achievements and Performance
Jewish Futures Trust is the sole member and has legal control over 6 independent charities and companies: Jroots, Give It Forward Today, Aish Hatorah UK, Forum for Jewish Leadership, Chazak, Klal Chazon. These set of accounts consolidate the results of all these entities.
The main achievements of the Charity in the period under review include:
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In the wake of the lockdown under the 2020 Covid-19 Pandemic, the Charity continued to develop and support its group charities, educational programming “on line” as well as the creation of numerous socially distanced, innovative educational opportunities;
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Supporting its group charities to make effective savings on their cost bases to maximise the economic usage of their fundraising resources;
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Providing resource optimisation alongside best governance practises, health and safety advice and financial guidance, for each charity, following ever changing government legislation and regulations;
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Delivering consultancy and support for each group charity to help them design and implement successful online fundraising campaigns during the Covid-19 period, including Gift, Aish, Klal Chazon and Chazak.
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The ongoing development of systems and processes in operations, procurement and finance which has led to considerable cost savings and administrative efficiencies and the strengthening of finance processes and governance;
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Expanding The Netzach Jewish Leadership Institute;
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The continued incubation of outreach projects Ta’am (promoting cultural and culinary programmes) and Shelanu (engaging with Israeli citizens working in London and a range of activities to support the community during Lockdown.
Fundraising
Jewish Futures Trust group is committed to the highest standards in fundraising. At all times the Charity aims to ensure that its processes and staff are respectful, open, honest and accountable to our supporters and the public.
Jewish Futures Trust is a medium sized charity that principally raises funds from individuals, family trusts and foundations, and companies who have a connection with and support the work of the charity. Its approach is generally on a personal level, but the group also raises funds through community events and activities.
Fundraising approaches made by Jewish Futures Trust are personal and targeted, focussed on those individuals and institutions who have expressed interest in its work. The Company does not engage in large scale fundraising activities like mass mailings, unsolicited telephone fundraising or door-to-door campaigns. This approach has expanded under the guidance of Jewish Futures Trust for each charity out of necessities dictated by the Covid-19 restrictions
Jewish Futures Trust has a small fundraising team. The Chief Executive and Chief Operating Officer are responsible for the day to management of fundraising activities. The Trustees provide oversight of fundraising strategy and delivery. The Fundraising Team receive regular training and guidance and aim to adhere to methods of best practise including the Fundraising Regulator’s Code of Fundraising Practice.
Under no circumstances does The Company share personal information of its supporters for the purposes of third-party marketing or processing.
Page 4
Jewish Futures Trust Limited
Trustees’ Report (continued)
Fundraising (continued)
There have been no complaints about fundraising activities reported in the year to 31 December 2021, or subsequently.
Jewish Futures Trust and its group charities have used two third party organisations to help raise funds for matched funding, targeted appeals, Causematch and CharityExtra, that has special technology and know how to run 24-hour telethon campaigns. These campaigns are targeted at the charities known database of supporters. The relationship with the thirdparty organisation is monitored by the Fundraising Team.
Financial Review
Against the backdrop the Covid-19 pandemic, which challenged the fundraising capabilities of all charities, the group successfully raised £7.099m through fundraising activities (2020: £7.311m) and, generated participant contributions for post lockdown trips and events of £0.725m (2020: £1.393m). In addition, the Group benefited from the Job Retention Scheme and applied for grants of £464,479 from the government scheme (2020: £699,697) as well as £31,527 from the Kickstart job creation scheme
Total incoming resources for the year were £8.353m. (2020: £9.422m) and resources expended totalled £7.750m. (2020: £7.639m) resulting in net surplus for the Group of £0.602m (2020: £1.783m). The group finished the year with total net funds of £3.435m (2020: £2.832m). At the year end the Group had total free reserves of £3.122m (2020: £2.529m).
The group is supported by a broad spectrum of donors from across the community, ranging from grassroots student-level program participants and alumni to a broad range of philanthropists who partner with the charities in the group and help encourage their activities.
Most fundraising is done through direct relationships with our partners and through effective communication of the importance of our work to the wider audience of our supporters.
All of the group charities had to innovate their fundraising processes to adapt to the restrictions of the COVID-19 lockdown, and created highly effective online campaigns during the year. It is primarily through these efforts and activities that each charity has achieved a boost to year end reserves, to strengthen their balance sheets and have effective resources for 2022 and future years. The success of the campaigns are a testament to the broadened reach of participants of the online education programmes.
All of the group’s expenditure is focused on creating the wide range of successful high-quality educational courses and popular, impactful activities that deliver our stated charitable objectives.
A summary of the results of the subsidiary entities for the year was as follows:
| entities for the year was as follows: | ||||
|---|---|---|---|---|
| Total | Total | Net | ||
| Incoming | resources | Charitable | Surplus/ | |
| resources | expended | expenditure | (Deficit) | |
| £ | £ | £ | £ | |
| Jroots | 631,533 | 796,343 | 794,836 | (164,810) |
| Give It Forward Today | 1,982,463 | 1,670,995 | 1,533,001 | 311,468 |
| Chazak | 1,092,409 | 905,921 | 874,324 | 186,488 |
| Klal Chazon | 335,594 | 349,222 | 334,557 | (13,628) |
| Aish Hatorah UK | 2,597,138 | 2,529,392 | 2,326,753 | 67,746 |
| Forum for Jewish Leadership | 315,100 | 300,618 | 297,550 | 14,482 |
| JLink (was dormant through the year) | - | - | - | - |
Page 5
Jewish Futures Trust Limited
Trustees’ Report (continued)
Key Risks and Uncertainties
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. A reduction in donor base could cause cash flow issues; any delayed receipt of pledged donations income could also potentially cause cash flow issues. The major risks facing the charity are reviewed regularly at management meetings. Regular reviews of cash flow projections and budget forecasts are also undertaken, as well as a continual drive to reduce expenditure and negotiate better terms and rates.
The impact of Covid-19 in 2021
The ongoing COVID-19 crisis significantly impacted upon the Charity’s planned activities and programmes. All activities involving social interaction had to stop in March 2020, but the charity was able to move, with remarkable alacrity and professionalism, to digital platforms to deliver events and programmes. The result of this has been a huge increase in educational engagement as evidenced by the table below:
Staff were put on furlough and actions taken to reduce costs of operations to limit the drain on resources. The Covid-19 crisis has impacted on the ability of the Charity to raise funds in the normal way, compared to previous years. However, supporters have recognised that the Charity has still been able to deliver high quality programmes and remain supportive of its work. The Group created a number of successful on-line fundraising campaigns. Fundraising initiatives are still producing appropriate income for the Group.
Management and Trustees are monitoring the Charity cost base on a regular basis to ensure that programme, event and educational costs do not exceed foreseeable income. The Management Team are regularly assessing the operational and logistical capabilities and finance consequences to update plans and budgets.
Reserves
Jewish Futures Trust needs free reserves to enable it to fulfil its charitable obligations and commitments that it enters into. The charity also requires reserves to ensure continuance of these obligations in the eventuality of any unexpected revenue shortfall.
Free reserves are defined by the Charity Commission as unrestricted funds available to spend on the general purposes of the charity and therefore excluding those designated for particular purposes and those already utilised in purchasing tangible fixed assets. Free reserves should not be mistaken for cash reserves. After adjusting unrestricted funds for functional fixed assets free reserves for the Company were in surplus by £649,859 (2020: surplus £423,309).
Jewish Futures Trust policy is to hold free reserves equal to not less than two months and no more than four months normal running costs, approximately £200,000 to £400,000. In the light of Covid-19 crisis, the Charity’s short-term objective is to ensure that the combination of cash and liquid assets is sufficient to meet current and anticipated obligations.
Pay policy for key management personnel
Pay and remuneration of key management personnel is determined by a variety of contributory factors, including the size of the charity, the pay scales for each role and the level of experience of the staff member. In addition to this, levels of pay may be affected by the ability to recruit key management personnel and retain them in post, which all coincides with the charity’s appointment and pay policies. All amendments to key management personnel's pay and remuneration is discussed and agreed by the trustees.
Plans for the Future
The member organisations of Jewish Futures Trust were all established under the leadership of Rabbi Naftali Schiff over the course of a decade. Since 2018 the trustees have set out to empower each organisational director so that they focused on a more hands on leadership style. Along with the trustees, Rabbi Naftali Schiff, along with the Management Team, have taken on a more strategic and consultative role, in each charity and has been able to embark on further educational and funding opportunities for the Charity and member organisations.
Page 6
Jewish Futures Trust Limited
Trustees’ Report (continued)
Plans for the Future (continued)
The Charity is tenant of a substantial property in North West London and is progressing with plans toward creating a new educational and cultural centre as a magnet for the inspiration and engagement of the UK Jewish and wider community and as a base for all the Group charities. This will be a ground-breaking, step change for the Group and will involve a large capital fundraising campaign. This will be led by a new committee devoted specially for the purpose.
Public Benefit
The trustees acknowledge the duty in Section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s published general and relevant sub-sector guidance on public benefit.
All activities undertaken by the group are for the public benefit. With a focus on providing education, the organisation’s operation is very much geared to providing benefit to the Jewish and wider community as is highlighted by the activities reported herein. The core of the educational philosophy is to share with young people a sense of moral responsibility and ethical values that instil a sense of pride in Jewish heritage as well as upright citizenship in wider society. This will also continue to be central to its future plans.
Disclosure of information to Auditors
Each of the directors has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditors are unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are aware of such information.
Statement of Trustees’ Responsibilities
The Trustees (who are also directors of Jewish Futures Trust Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to:
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a. select suitable accounting policies and then apply them consistently;
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b. observe the methods and principles in the Charities SORP;
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c. make judgements and estimates that are reasonable and prudent;
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d. state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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e. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the Charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In preparing this report, the Directors have taken advantage of the small companies exemption provided by section 415A of the Companies Act 2006.
Page 7
Jewish Futures Trust Limited
Trustees’ Report (continued)
Auditors
Crowe U.K. LLP has expressed a willingness to continue in office. A resolution to appoint them will be proposed at the Annual General Meeting.
This report has been approved by the trustees on 17 August 2022 and signed on their behalf by:
________E Misrahi Trustee
Page 8
Auditors’ Report
Jewish Futures Trust Limited
Independent Auditor’s Report to the Members and Trustees of Jewish Futures Trust Limited
Opinion
We have audited the financial statements of Jewish Futures Trust Limited (the “charitable company”) for the year ended 31 December 2021 which comprise Consolidated Statement of Financial Activities, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the group’s and the charitable company’s affairs as at 31 December 2021 and of the group’s incoming resources and application of resources, including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 9
Jewish Futures Trust Limited
Auditors’ Report
Opinions on other matters prescribed by the Companies Act 2006
In our opinion based on the work undertaken in the course of our audit
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the information given in the trustees’ report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the directors’ report included within the trustees’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In light of the knowledge and understanding of the group and the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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the parent company has not kept adequate accounting records; or
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the parent company financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the Trustees Annual Report.
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement set out on page 6, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 151 of the Charities Act 2011 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Page 10
Jewish Futures Trust Limited
Auditors’ Report
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the the Charities SORP (FRS102) 2019 and Companies Act 2006.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management and the recognition of income. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, sample testing on income recognised in the accounts and reviewing accounting estimates for biases.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations.
These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of part 16 of the Companies Act 2006, and to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Alastair Lyon Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor Aquis House 49-51 Blagrave Street Reading Berkshire RG1 1PL
18 August 2022
Crowe U.K. LLP is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
Page 11
Jewish Futures Trust Limited
Consolidated Statement of Financial Activities
(Incorporating an income and expenditure account)
for the year ended 31 December 2021
| Note Unrestricted Funds Restricted Funds Income from: Donations and legacies 4 6,549,443 549,539 Charitable activities: Participant payments 4 725,214 - Investment income 32 - Other income 4 528,456 - Total income 7,803,145 549,539 _ ________ Expenditure on: _Raising funds: Donor fundraising costs 5 434,376 - Charitable activities 6 6,754,031 533,492 Charitable donations 28,600 - Total expenditure 7,217,007 533,492 _ _ Net income/(expenditure) for the year before transfers 7 586,138 16,047 Reconciliation of funds: Total funds brought forward 2,751,022 81,805 Total funds carried forward 3,337,160 97,852 ======= ======= |
2021 £ 7,098,982 725,214 32 528,456 8,352,684 _ 434,376 7,287,523 28,600 7,750,499 _ 602,185 2,832,827 3,435,012 ======= |
2020 £ 7,311,329 1,393,183 186 717,957 9,422,655 _ 418,947 7,090,717 129,882 7,639,546 _ 1,783,109 1,049,718 |
|---|---|---|
| 2,832,827 ======= |
The Statement of Financial Activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The notes on pages 15 to 27 form part of these accounts.
Page 12
Jewish Futures Trust Limited Company number: 07884678
Consolidated Balance Sheet
As at 31 December 2021
| Note Fixed Assets Tangible assets 11a Heritage Assets 11b Current Assets Debtors 12 Cash at bank and in hand Creditors:Amounts falling due within one year 13 Net current assets Total assets less current liabilities Creditors: Amounts falling due after one year 14 Total Net Assets Funds Restricted funds 16 Unrestricted funds 16 Total funds |
2021 2020 £ £ 162,964 168,746 52,260 52,260 __ _ 215,224 221,006 1,240,521 763,549 3,558,744 2,394,131 4,799,265 3,157,680 (1,158,640) (545,859) 3,640,625 2,611,821 _ _ 3,855,849 (420,837) 2,832,827 - _ ______ £3,435,012 £2,832,827 ========= ======= 97,852 81,805 3,337,160 2,751,022 3,435,012 2,832,827 ======== ======= |
|---|---|
Included in the Consolidated Statement of Financial Activities is net unrestricted income for the year for Jewish Futures Trust of £200,439 (2020: £51,165)
The financial statements were approved and authorised for issue by the trustees and were signed on its behalf on 17 August 2022 by
E Misrahi Trustee
The notes on pages 15 to 27 form part of these accounts.
Page 13
Jewish Futures Trust Limited Company number: 07884678
Company Balance Sheet
As at 31 December 2021
| Note 2021 £ Fixed Assets -Tangible Assets Current Assets 11a 28,492 Debtors 12 721,336 Cash at bank and in hand 422,636 1,143,972 Creditors:Amounts falling due within one year 13 (281,616) Net Current Assets Total assets less current liabilities Creditors:Amounts falling after one year 14 862,356 890,848 (212,497) Total Net Assets 678,351 ======= Funds Unrestricted funds 678,351 Total funds 678,351 ======= |
2020 £ 54,603 489,416 242,192 731,608 (308,299) |
2020 £ 54,603 489,416 242,192 731,608 (308,299) |
|---|---|---|
| = = |
423,309 477,912 - 477,912 ====== 477,912 477,912 ====== |
The financial statements were approved and authorised for issue by the trustees and were signed on its behalf on 17 August 2022 by
E Misrahi Trustee
The notes on pages 15 to 27 form part of these accounts.
Page 14
Jewish Futures Trust Limited
Consolidated Statement of Cash flows
As at 31 December 2021
| Cash flows from operating activities: Net incoming/(outgoing) resources Depreciation Loss on disposal of tangible assets Decrease/(increase) in debtors Increase/(decrease) in creditors Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Net cash used by investing activities Cash flows from financing activities Additional credit/(repayment) of short-term bank loans and credit cards Additional credit / (repayment) of long-term bank loan advances Net cash sourced / (used) by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Total cash and cash equivalents at the end of the year |
2021 £ 602,185 53,293 2,115 (476,972) 525,546 706,167 (49,626) (49,626) 87,235 420,837 508,072 1,164,613 2,394,131 3,558,744 |
2020 £ 1,783,109 50,470 - 501,827 (837,198) 1,498,208 (1,156) (1,156) (18,430) (110,000) |
|---|---|---|
| (128,430) | ||
| 1,368,622 1,025,509 |
||
| 2,394,131 |
Page 15
Jewish Futures Trust Limited
Notes to the Accounts – 31 December 2021
1 Company information
The principal activity of Jewish Futures Trust Limited is the advancement of Jewish education and culture. The company is registered as a charitable company limited by guarantee (company number: 07884678, charity number 1151066). It is incorporated and domiciled in the UK. The address of the registered office is 379 Hendon Way, London, NW4 3LP.
2 Accounting Policies
a. Basis of Accounting
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2015), applicable UK accounting standards including the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006. The company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The principal accounting policies adopted in the preparation of the financial statements are as follows:
b. Basis of Consolidation
Consolidated financial statements have been prepared in respect of Jewish Futures Trust Ltd and its subsidiaries Forum for Jewish Leadership Ltd, Chazak Ltd, Jlink Ltd, Jroots Ltd, Aish Hatorah UK Ltd, Klal Chazon Ltd and Give It Forward Today Ltd. No separate SOFA or Income and Expenditure Account have been presented for the Charity alone as permitted by the Companies Act 2006 and the Charities SORP 2015. Both parent and all subsidiaries have the same reporting date of 31 December 2021 with the exception of JLink Ltd (dormant company) which has a reporting date of 28 February 2022.
c. Going Concern
The Charitable group currently has assets that exceed its liabilities. In addition, the Trustees are expecting to generate a modest surplus for the year ended 31 December 2022 reflecting continuing control on expenditure and support from donors in spite of the slow end to the Covid-19 crisis. Having reviewed the financial position of the Charity, the Trustees consider that, with current cash resources, general reserves and the potential appeal for fundraising, there are no material uncertainties about the Charity’s ability to continue as a going concern and have reasonable expectations that the Charity has adequate resources to continue its digital activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
d. Income
All incoming resources are included on the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
- e. Expenditure
Cost of fundraising activities are those costs incurred in attracting voluntary income.
Charitable activities include expenditure associated with the delivery of its activities and include both the direct costs and support costs relating to these activities.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include the independent examination fees and costs linked to the strategic management of the charity.
Support costs include related staff remuneration, premises costs, travel costs and core professional fees. These costs have been allocated to the expenditure categories based on the management’s estimate of the proportion of time and resources consumed by each of the key activities of the charity.
Page 16
Jewish Futures Trust Limited
Notes to the Accounts – 31 December 2021
-
2 Accounting Policies (continued)
-
f. Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to the expenditure.
g. Tangible Fixed Assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the costs of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Improvements to leasehold property - Over the term of the lease Plant and equipment - 25% reducing balance Fixtures and fittings - 25% reducing balance/33% straight line Motor vehicles - 25% reducing balance
Assets greater than £1,000 are capitalised.
h. Heritage Assets
The subsidiary, Aish Hatorah UK Ltd, owns religious scrolls. These assets are untarnished and used to further the charity’s objectives. Heritage assets are included in the Balance Sheet at cost. Their carrying amounts are reviewed where evidence of impairment exists and reduced where an impairment is deemed to have incurred.
In accordance with FRS102, depreciation is not provided on heritage assets as they are considered to have indefinite lives. The cost of maintenance and repair of heritage assets is written off in the year incurred.
i. Translation of Foreign Currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Statement of Financial Activities.
j. Operating Leases
Rentals under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straightline basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.
Page 17
Jewish Futures Trust Limited
Notes to the Accounts – 31 December 2021
2 Accounting Policies (continued)
k. Financial Instruments
The Company holds only financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments include debtors and creditors. Debtors and creditors are initially recognised at transaction value and subsequently measured at fair value. Note 21 provides more information on financial instruments where future cash flows are anticipated, with financial assets referring to debtor balances excluding prepayments, and financial liabilities referring to all creditor balances excluding deferred income and other taxation and social security.
l.
Government Grants
Grants are accounted for under the performance model as permitted by the charity SORP. Coronavirus Job Retention Scheme grant income was therefore recognised on a straight-line basis over the furlough period for each relevant employee, as was Kick Start job creation income during the year.
3 Key Judgements and Estimates
In the application of the Company’s accounting policies, which are described in note 2, Trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects the current and future periods.
The Trustees consider that there are no material judgements in applying accounting policies or key sources of estimation uncertainty.
Page 18
Jewish Futures Trust Limited
Notes to the Accounts – 31 December 2021
4 Income
| Incoming resources from generated funds Donations and gifts Fundraising telethons = Incoming resources from charitable activities Trip and event participant payments Other Income Job Retention Scheme Furlough Grants Kick Start Job Creation Grants Other income = 5 Donor fundraising costs Donor relations Travel and accommodation Staff costs Support and Other costs Fundraising telethon costs |
2021 2020 £ £ 6,068,714 6,676,023 1,030,268 7,098,982 635,306 7,311,329 ======= ======== 725,214 1,393,183 ======= 464,479 31,527 32,450 528,456 ======== 699,697 - 18,260 717,957 2021 £ 2020 £ 8,326 8,939 7,972 16,934 192,042 213,890 151,678 141,636 74,358 37,548 434,376 418,947 ====== ======== |
2021 2020 £ £ 6,068,714 6,676,023 1,030,268 7,098,982 635,306 7,311,329 ======= ======== 725,214 1,393,183 ======= 464,479 31,527 32,450 528,456 ======== 699,697 - 18,260 717,957 2021 £ 2020 £ 8,326 8,939 7,972 16,934 192,042 213,890 151,678 141,636 74,358 37,548 434,376 418,947 ====== ======== |
|---|---|---|
| 418,947 ====== |
Donor fundraising costs represent 6.7% (2020: 5.7%) of total donations and fundraising income of the year.
6
Charitable activities
| Basis of allocation Staff costs Direct Programme & trip expenditure Direct Educational Materials Direct General office Direct Governance costs Direct Support costs Total charitable activity expenditure |
Charitable activities Support costs £ £ 2,133,523 1,050,840 2,737,870 25,883 - 1,311,035 28,372 4,897,276 2,361,875 2,361,875 (2,361,875) 7,287,523 - |
2021 Total 2020 Total £ £ 3,184,363 3,032,127 2,737,870 2,007,841 25,883 31,808 1,311,035 1,994,521 28,372 24,420 |
|---|---|---|
| 7,287,523 7,090,717 - |
||
| 7,287,523 7,090,717 |
Of the £7,287,253 expenditure in 2021 (2020: £7,090,717), £6,754,031 was charged to unrestricted funds (2020: £6,455,237) and £533,492 to restricted funds (2020: £635,480).
Page 19
Jewish Futures Trust Limited
Notes to the Accounts – 31 December 2021
7 Net incoming resources
| Net incoming resources | ||
|---|---|---|
| 2021 | 2020 | |
| This is stated after charging | £ | £ |
| Depreciation of tangible fixed assets: | ||
| - owned by the Company | 53,293 | 50,470 |
| Auditors’ remuneration | ||
| - audit fees | 22,264 | 22,579 |
| - independent examinations | 7,416 | 3,120 |
| Foreign exchange (gains) / losses | 24,286 | (2,388) |
| ===== | ===== |
8 Trustees’ remuneration
During the year, one (2020: one) trustee received total remuneration of £65,217 (2020: £104,358) in their capacity as employees of companies within the Jewish Futures Trust Group. The Articles of Association permit the employment and remuneration of a director as an employee.
During the year, no Trustee in the Group received any benefits in kind for their role as trustee (2020: £Nil).
During the year, no Trustee in the Group received any reimbursement of expenses for their role as trustee (2020: £Nil).
9 Analysis of staff costs, trustee remuneration and expenses
| Staff Costs: Wages and salaries Social security costs Pension costs Other staff costs |
2021 2020 £ £ 2,924,783 2,813,596 247,574 110,393 241,647 71,398 15,215 76,405 3,297,965 3,203,046 _ _ |
|---|---|
Remuneration amounting to £115,364 was paid to key management personnel directly in Jewish Futures Trust (2020: £115,903). All trustees are included as key personnel.
| The average number of employees during the year was: Educational Operational Administrative |
2021 56 17 26 99 ======= |
2020 55 16 26 |
|---|---|---|
| 97 ======= |
Page 20
Jewish Futures Trust Limited
Notes to the Accounts – 31 December 2021
10 Employees (continued)
One employee (2020: one) received emoluments between £60,000 and £70,000. One employee (2020: three) received emoluments between £70,000 and £80,000 Three employees (2020: one) received emoluments between £80,000 and £90,000.
11 A) Fixed assets
| Leasehold improvements Plant and equipment Furniture and fittings Motor vehicles Group £ £ £ £ Cost At 1 January 2021 547,988 170,415 319,928 23,185 Disposals (11,884) Additions 42,972 - 1,154 5,500 At 31 December 2021 590,960 170,415 321,062 16,801 Depreciation At 1 January 2021 419,687 159,699 292,314 21,070 Disposals (9,769) Charge for the Year 46,234 1,200 5,515 344 At 31 December 2021 465,921 160,899 297,829 11,645 Net Book Value At 31 December 2021 125,039 9,516 23,253 5,156 ====== ====== ====== ===== At 31 December 2020 128,301 10,716 27,614 2,115 ====== ====== ====== ===== 2021 B) Heritage assets £ Group At 1 January 52,260 Additions in year - Disposal - At 31 December 52,260 |
Total £ 1,061,516 (11,884) 49,626 1,099,258 892,770 (9,769) 53,293 936,294 162,964 ======= 168,746 ======= 2020 £ 52,260 - - 52,260 |
|---|---|
| = = |
Aish Hatorah UK, a group charity, has control and owns 2 religious scrolls
Page 21
Jewish Futures Trust Limited
Notes to the Accounts – 31 December 2021
11 Fixed Assets (continued)
| Leasehold improvements Plant and equipment Company £ £ Cost At 1 January 2021 124,600 11,294 Additions - - At 31 December 2021 124,600 11,294 Depreciation At 1 January 2021 74,460 6,531 Charge for the Year 24,920 1,191 At 31 December 2021 74,460 7,722 Net Book Value At 31 December 2021 24,920 3,572 ====== ====== At 31 December 2020 49,840 4,763 ====== ====== |
Total £ 135,894 - 135,894 |
Total £ 135,894 - 135,894 |
|---|---|---|
| 81,291 26,111 107,402 |
81,291 26,111 |
|
| 28,492 ====== 54,603 ====== |
12 Debtors
| Trade debtors Sister charity debtors Other debtors Prepayments and accrued income 13 Creditors:Amounts falling due within one-year Bank loans and credit cards Trade creditors Amounts owed to sister charities Social security and other taxation Loans Other creditors Accruals and deferred income |
Group 2021 2020 £ £ 33,883 82,247 - - 901,693 400,174 304,945 281,128 1,240,521 763,549 2021 2020 £ £ 106,470 19,235 255,290 177,308 - - 78,890 79,828 - - 104,587 128,429 603,803 141,059 1,149,040 545,859 |
Company |
|---|---|---|
| 2021 2020 £ £ 840 36,137 10,524 22,482 611,685 319,349 98,287 111,448 |
||
| 721,336 489,416 |
||
| 2021 £ 2020 £ 45,936 6,305 48,149 94,932 - 6,872 39,422 42,310 - - 85,473 58,020 62,636 99,860 |
||
| 281,616 308,299 |
Page 22
Jewish Futures Trust Limited
Notes to the Accounts – 31 December 2021
| 14 Creditors:Amounts falling due after one-year Bank loans |
2021 2020 £ £ Group 420,837 - 420,837 - |
2021 £ 2020 £ Company 212,497 - |
|---|---|---|
| 212,497 - |
In January 2021 Jewish Futures Trust and sister charity Jroots borrowed £250,000 each under the Corona Business Initiative Loans Scheme. The Loans are repayable in monthly instalments, from year 2 to 6 of the loan and carry interest at 2% over base rate. The amount repayable during 2022 is shown in current liabilities and the balance due after one year as a long-term creditor
| 15 Deferred Income Balance as at 1 January Amount released to income in the year Amount deferred in the year Balance as at 31 December = |
2021 £ 2020 £ - 736,955 - (736,955) 364,618 - 346,618 - ====== ====== |
|---|---|
Deferred Income at the end of the year represents, in group charities, amounts received from participants for educational trips that will take place in the period after 31 December 2021. Income is released to the Profit and Loss account for the year in which the activity occurs.
| 16 Statement of Funds 1 January 2021 £ Group Restricted funds 81,805 Unrestricted funds 2,751,022 2,832,827 Restricted funds: Memorial projects Trips Gifts in Kind 50,790 31,015 - 81,805 Company Restricted Funds - Unrestricted funds 477,912 _ |
Income £ 549,539 7,803,145 8,352,684 36,518 513,021 - 549,539 - 2,862,916 __ |
Expenditure 31 December 2021 £ £ 533,492 97,852 7,217,007 3,337,160 7,750,499 3,435,012 25,884 507,608 - 533,492 61,424 36,428 - 97,852 - 2,662,477 678,351 __ _ |
|---|---|---|
Restricted Funds descriptions: -
Memorial Projects - funds collected to pay tribute and remember people who survived the Holocaust in Jroots. Gifts in Kind – food parcels collected and distributed to needy families around London and Manchester in GIFT Trips - funds provided to sponsor bursaries for students on Forum for Jewish Leadership international trips.
Page 23
Jewish Futures Trust Limited
Notes to the Accounts – 31 December 2021
17 Related Party Transactions
Jewish Futures Trust is the sole member of Aish Hatorah UK. During the year, Jewish Futures Trust made donations to Aish UK to the value of £255,000 (2020: £238,250). During the year Aish charged JFT £1,009 (2020: £14,002) for administrative services. At the year end, the Company owed Aish UK £nil (2020: £4,511)
Jewish Futures Trust is the sole member of Chazak Ltd. During the year, the Company made donations to Chazak to the value of £45,000 (2020: £51,000). During the year Chazak set up a Beis Hamidrash in a property leased by JFT and paid rent for the office of £16,200 (2020: £21,600). At the year end, the Company owed Chazak £nil (2020: £nil).
Jewish Futures Trust is the sole member of JRoots During the year, the Company made donations to JRoots to the value of £38,500 (2020: £nil). At the year end the Company owed J Roots Ltd £nil (2020: £nil) and JRoots owed the Company £nil (2020: £1,067).
Jewish Futures Trust is the sole member of Give it Forward Today Ltd. During the year, the Company made donations to Gift to the value of £105,000 (2020: £73,047). At the end of the year Gift owed the Company £10,339 (2020: £127).
Jewish Futures Trust is the sole member of Forum for Jewish Leadership. During the year, the Company made donations to FJL to the value of £nil (2020: £10,000) At the year end, FJL owed the Company £nil (2020: £21,288).
Jewish Futures Trust is the sole member of Klal Chazon. During the year, the company made donations to Klal Chazon to cover the costs of educational support services and overheads to the value of £82,225 (2020: £84,000). At the year end, Klal Chazon owed the Company £125 (2020: £nil) and the Company owed Klal Chazon £nil (2020: £2,362)
Jewish Futures Trust operates a central operational hub for various back office functions that supports itself and its group charities including running head office premises, finance, production, logistics, publicity and fundraising. It has recharged each of the charities, at cost, for an agreed share of the overhead expenses to reflect each charity’s use of the central services (which are reviewed each year). The amount charged to each charity during 2021 was as follows: -
Year ended 31 Dec 2021 Year ended 31 Dec 2020 £ £ Chazak Ltd 46,681 74,480 J Roots 139,846 147,862 Klal Chazon 27,225 25,000 Forum for Jewish Leadership 19,809 15,000 Gift 152,587 122,045 Aish Hatorah 318,570 294,603
Page 24
Jewish Futures Trust Limited
Notes to the Accounts – 31 December 2021
18 Operating lease commitments
The following annual commitments existed in respect of non-cancellable operating leases:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Group | ||
| Leases expiring: | ||
| In less than one year | 563,487 | 500,389 |
| Between one and five years | 343,778 | 325,184 |
| Greater than five years | - | - |
| ______ | ______ | |
| 907,265 | 825,573 | |
| ====== | ====== | |
| 2021 | 2020 | |
| Company : | £ | £ |
| Leases expiring: | ||
| In less than one year | 237,209 | 238,967 |
| Between one and five years | 291,278 | 227,267 |
| Greater than five years | - | - |
| _ | ______ | |
| 528,487 | 466,234 | |
| ====== | ====== |
19 Principal Subsidiaries
| Percentage | |||
|---|---|---|---|
| Company name | Country | Control | Description |
| Chazak Ltd | UK | 100 | Jewish cultural education |
| (Company number 07485527, | |||
| Charity number 1142937) | |||
| Forum For Jewish Leadership Ltd | UK | 100 | Jewish cultural education |
| (Company number 07485527, Charity | |||
| number 1142937) | |||
| Klal Chazon Ltd | UK | 100 | Jewish cultural education |
| (Company Number 10832208, | |||
| Charity number 1177390) | |||
| JLink Ltd | UK | 100 | Jewish cultural education |
| (Company Number 07968852) | |||
| Aish Hatorah UK Ltd | UK | 100 | Jewish cultural education |
| (Company number 03413207, | |||
| Charity number 1069048) | |||
| Jroots Ltd | UK | 100 | Heritage and cultural educatio |
| (Company Number 07114903, | |||
| Charity Number 1136532) | |||
| Give It Forward Today | UK | 100 | Benevolence social action and |
| (Company number 08439369, Charity | education | ||
| number 1153393) |
Page 25
Jewish Futures Trust Limited
Notes to the Accounts – 31 December 2021
20 Subsidiary Information
A summary of the results of the financial position of the 100% owned subsidiaries is shown below. The unconsolidated net incoming resources for the parent entity (Jewish Futures Trust Limited) were £200,439 (2020: £51,165) for the financial year.
| Aish Hatorah UK Ltd Chazak Ltd £ Income Donations and legacies 2,305,609 945,197 Participant payments 119,442 57,212 Investment income - - Other income 172,027 90,000 Total income 2,597,138 1,092,409 Expenditure Donor fundraising costs 202,639 31,597 Charitable activities 2,326,753 874,324 Charitable donations out - - Total expenditure 2,529,392 905,921 Net income/(expenditure) for the year 67,476 186,488 Total funds brought forward 573,233 328,121 Total funds carried forward 640,979 514,609 Total assets 795,403 550,993 Total liabilities 154,424 36,384 J Link ltd Klal Chazon Ltd £ £ Income Donations and legacies - 306,601 Participant payments - 7,874 Investment income - - Other income - 21,119 Total income - 335,594 Expenditure Donor fundraising costs - 14,665 Charitable activities - 334,557 Charitable donations out - - Total expenditure - 349,222 Net income/(expenditure) for the year - (13,628) Total funds brought forward - 56,375 Total funds carried forward - 42,747 Total assets - 65,824 Total liabilities - 23,077 |
Jroots Ltd Give It Forward Today £ £ 137,939 1,932819 458,550 - 32 - 35,012 49,644 631,533 1,982,463 1,507 137,994 794,836 1,533,001 - - 796,343 1,670,995 (164,810) 311,468 504,042 878,911 339,232 1,190,379 1,073,068 1,266,236 733,836 75,857 Forum For Jewish Leadership Ltd £ 167,352 121,155 - 26,593 315,100 3,068 297,550 - 300,618 14,482 14,233 28,715 101,025 72,310 |
Jroots Ltd Give It Forward Today £ £ 137,939 1,932819 458,550 - 32 - 35,012 49,644 631,533 1,982,463 1,507 137,994 794,836 1,533,001 - - 796,343 1,670,995 (164,810) 311,468 504,042 878,911 339,232 1,190,379 1,073,068 1,266,236 733,836 75,857 Forum For Jewish Leadership Ltd £ 167,352 121,155 - 26,593 315,100 3,068 297,550 - 300,618 14,482 14,233 28,715 101,025 72,310 |
Jroots Ltd Give It Forward Today £ £ 137,939 1,932819 458,550 - 32 - 35,012 49,644 631,533 1,982,463 1,507 137,994 794,836 1,533,001 - - 796,343 1,670,995 (164,810) 311,468 504,042 878,911 339,232 1,190,379 1,073,068 1,266,236 733,836 75,857 Forum For Jewish Leadership Ltd £ 167,352 121,155 - 26,593 315,100 3,068 297,550 - 300,618 14,482 14,233 28,715 101,025 72,310 |
Jroots Ltd Give It Forward Today £ £ 137,939 1,932819 458,550 - 32 - 35,012 49,644 631,533 1,982,463 1,507 137,994 794,836 1,533,001 - - 796,343 1,670,995 (164,810) 311,468 504,042 878,911 339,232 1,190,379 1,073,068 1,266,236 733,836 75,857 Forum For Jewish Leadership Ltd £ 167,352 121,155 - 26,593 315,100 3,068 297,550 - 300,618 14,482 14,233 28,715 101,025 72,310 |
Jroots Ltd Give It Forward Today £ £ 137,939 1,932819 458,550 - 32 - 35,012 49,644 631,533 1,982,463 1,507 137,994 794,836 1,533,001 - - 796,343 1,670,995 (164,810) 311,468 504,042 878,911 339,232 1,190,379 1,073,068 1,266,236 733,836 75,857 Forum For Jewish Leadership Ltd £ 167,352 121,155 - 26,593 315,100 3,068 297,550 - 300,618 14,482 14,233 28,715 101,025 72,310 |
Jroots Ltd Give It Forward Today £ £ 137,939 1,932819 458,550 - 32 - 35,012 49,644 631,533 1,982,463 1,507 137,994 794,836 1,533,001 - - 796,343 1,670,995 (164,810) 311,468 504,042 878,911 339,232 1,190,379 1,073,068 1,266,236 733,836 75,857 Forum For Jewish Leadership Ltd £ 167,352 121,155 - 26,593 315,100 3,068 297,550 - 300,618 14,482 14,233 28,715 101,025 72,310 |
|---|---|---|---|---|---|---|
| 311,468 878,911 1,190,379 |
311,468 878,911 |
|||||
| 1,266,236 | ||||||
| 75,857 | ||||||
| 14,482 14,233 28,715 101,025 |
14,482 14,233 |
|||||
| 28,715 | ||||||
| 72,310 |
Page 26
Jewish Futures Trust Limited
Notes to the Accounts – 31 December 2021
| 21 Financial instruments |
||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Group | ||
| Financial assets measured | 4,532,367 | 2,902,396 |
| at amortised cost | ||
| Financial liabilities | 673,522 | 540,574 |
| measured at amortised cost | ||
| ====== | ====== | |
| Company | ||
| Financial assets measured | 1,045,685 | 620,160 |
| at amortised cost | ||
| Financial liabilities | 244,113 | 308,299 |
| measured at amortised cost | ||
| ====== | ====== |
Financial assets measured at amortised cost include trade debtors, amount owed by group undertakings, other debtors and cash and cash equivalents.
Financial liabilities measured at amortised cost comprise trade creditors, other creditors and accruals excluding deferred income.
Page 27
Jewish Futures Trust Limited
Notes to the Accounts – 31 December 2021
22 Comparative Statement of Financial Activities January to December 2020
| Income from: Donations and legacies Fundraising Dinners Charitable activities: Participant payments Investment income Other income Total income Expenditure on: Raising funds: Donor fundraising costs Charitable activities Charitable donations Total expenditure Net income/(expenditure) for the year before transfers Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted Funds 6,681,981 1,393,183 186 717,957 8,793,307 _ 418,947 6,455,237 102,010 6,976,194 _ 1,817,113 933,909 2,751,022 ======= |
Restricted Funds 629,348 - - - 629,348 _ - 635,480 27,872 663,352 _ (34,004) 115,809 81,805 ======= |
2020 £ 7,311,329 1,393,183 186 717,957 9,422,655 _ 418,947 7,090,717 129,882 7,639,546 _ 1,783,109 1,049,718 |
|
|---|---|---|---|---|
| _ | ||||
| _ = |
||||
| 2,832,827 ======= |