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2021-12-31-accounts

Charity registration number 1169041

UKLFI CHARITABLE TRUST CIO

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

UKLFI CHARITABLE TRUST CIO

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees H Rose
A Levin
A Melkman
M Polonsky
S Storring
J Sher (Appointed 7 December
2021)
Charity number 1169041
Principal address 30 City Road
London
EC1Y 2AB
Independent examiner Arram Berlyn Gardner LLP
30 City Road
London
EC1Y 2AB

UKLFI CHARITABLE TRUST CIO

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Statement of financial position 6
Notes to the financial statements 7 - 13

UKLFI CHARITABLE TRUST CIO

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their report and financial statements for the year ended 31 December 2021.

The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

Legal and administrative information set out at the front of these financial statements form part of this report.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document dated 5 September 2016, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The charity's objects are:

  1. to advance legal education in national and international political, social and economic policy regarding:

(i) the State of Israel and; (ii) the causes and effects of antisemitism, particularly antisemitism which manifests itself with regard to the State of Israel,

for the public benefit including, without limitation, through

(i) providing legal support to victims of antisemitism; (ii) helping such victims by providing advice, advocacy, care, relief and assistance and; (iii) fostering relations among lawyers for the purpose of providing such legal support and help.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

UKLFI CHARITABLE TRUST CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Achievements and performance

A major area of the charity’s work during 2021 has been assisting students facing antisemitism, particularly antisemitism manifesting itself with regard to Israel. Activities included advising, assisting and representing individual students and student societies, working with Universities to prevent antisemitism, and providing educational materials on our website, relevant to addressing antisemitism.

The charity has also helped other victims of antisemitism by providing legal support, advice, advocacy and assistance to victims of antisemitism.

Many of these actions have been made possible through fostering relations among lawyers, in particular through regular communications with lawyers interested in addressing these issues and through educational events.

Educational events included lectures on a variety of subjects relating to legal issues regarding the State of Israel and / or antisemitism. As a result of Covid, we have continued to host the talks online as webinars, although we held one in-person event during 2021. The subjects included: How Recent ICC Decisions Affect Israel, Sport and Countering Antisemitism, The Accusation of Israel as an Apartheid State, UNSC Resolution 1701 and the situation on the Lebanon border, International law, Propaganda and Diplomacy, Counter-BDS Legislation in the United States, Proportionality in Armed Conflict, Sheikh Jarrah: the Property Dispute, Terrorist Minds, Palestinian Healthcare - Whose Responsibility? and Fighting Terrorists while respecting International Law.

The webinars attracted significant audiences from all over the UK and elsewhere in the world. Videos of these webinars have been posted on the charity’s YouTube channel, where they have continued to attract many further viewings.

The charity continued to add and update its website educational resources.

The charity continued to share resources with UKLFI Limited, a non-profit company limited by guarantee. The Trustees consider that the charity benefited significantly from its relationship with UKLFI Limited and are satisfied that the arrangements between the charity and UKLFI Limited properly address any conflicts of interest.

Financial review

The charity’s income of £70,611 (2020 £54,517) was mainly made up of donations received.

The charity did not charge for its webinars, so no entrance fees were generated from the webinars, although some donations were received by those attending.

The annual expenditure amounted to £42,371 (2020 £62,401).

As at 31 December 2021 UKLFI Charitable Trust carried forward unrestricted general funds of £41,770 (2020:

£13,530).

In line with the recommendations of the Charity Commission, the trustees have formally adopted a reserves policy. This recognises that the income of the Trust does not arise evenly year on year and so to enable the Trust to plan its activities it is prudent to hold reserves.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to at least six months’ expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

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.

Taxation

The fund is a charity and is recognised as such by the Inland Revenue for taxation purposes. As a result there is no liability to taxation on any of its income.

UKLFI CHARITABLE TRUST CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Structure, governance and management

The charity was established by a governing document dated 5 September 2016 and registered with the Charity Commission under charity number 1169041.

The current trustees and trustees who served during the year were: H Rose A Levin A Melkman M Polonsky S Storring P Isaacs (Resigned 5 February 2021) J Sher (Appointed 7 December 2021)

The existing trustees are responsible for appointing further trustees.

The minimum number of trustees is three and there is no maximum number that may be appointed.

The trustees' report was approved by the Board of Trustees.

..............................

A Levin Trustee Dated: .........................

UKLFI CHARITABLE TRUST CIO

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF UKLFI CHARITABLE TRUST CIO

I report to the trustees on my examination of the financial statements of UKLFI Charitable Trust CIO (the charity) for the year ended 31 December 2021.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the accounts (financial statements) in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice Issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Sarah Wilson FCA

for and behalf of Arram Berlyn Gardner LLP

Chartered Accountants

30 City Road London EC1Y 2AB

Dated: .........................8/9/2022

UKLFI CHARITABLE TRUST CIO

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£		 Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£		 Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£		 Total
Unrestricted
Restricted		 Total
Unrestricted
Restricted		 Total
Unrestricted
Restricted		 Total
2020
£
53,273
1,244
54,517
62,401
funds funds funds funds
2021 2021 2021 2020 2020
£ £ £ £ £
Income from:
Donations and legacies
2		 60,432 10,000 70,432 53,273 -
Other trading activities
3		 179 - 179 1,244 -
Total income 60,611 10,000 70,611 54,517 -
Expenditure on:
Charitable activities
4		 32,371 10,000 42,371 58,047 4,354
Net income/(expenditure) for
the year/		 28,240
Net movement in funds 28,240 - (3,530) (4,354) (7,884)
Fund balances at 1 January
2021		 21,960
14,076
13,530 546 14,076 17,060 4,900
Fund balances at 31
December 2021
41,770 546 42,316 13,530 546

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

UKLFI CHARITABLE TRUST CIO

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2021

Notes
Current assets		 2021 2020
£ £ £ £
3,016
44,367
47,383
(5,067)		 -
27,107
27,107
(13,031)
42,316
546
41,770
42,316
Debtors
7
Cash at bank and in hand
Creditors: amounts falling due within
one year
8
Net current assets 14,076
Income funds
Restricted funds 546
Unrestricted funds - general 13,530
14,076
The financial statements were approved by the Trustees on ... ......................
7 92022
Adli
..............................
ameen
A Levin
Trustee

UKLFI CHARITABLE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

Charity information

UKLFI Charitable Trust CIO is a Charitable Incorporated Organisation, registered in England. The Charity Registration number is 1169041.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are available for antisemitism research.

1.3 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.4 Resources expended

Expenditure is accounted for on an accruals basis and includes any VAT that cannot be recovered. Where possible costs are allocated directly to the activities to which they relate.

Governance costs are those that relate to the general running of the charity and its infrastructure.

UKLFI CHARITABLE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

1.5 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment 33.33% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

1.6 Cash and cash equivalents

Cash and cash equivalents includes cash in hand.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.7 Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

UKLFI CHARITABLE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

2 Donations and legacies

Unrestricted
Restricted
funds
funds
general
2021
2021
£
£
Donations and gifts
60,432
10,000		 Unrestricted
Restricted
funds
funds
general
2021
2021
£
£
Donations and gifts
60,432
10,000		 Unrestricted
Restricted
funds
funds
general
2021
2021
£
£
Donations and gifts
60,432
10,000		 Total
Unrestricted		 Total
Unrestricted
funds funds
general
2021 2021 2021 2020
£ £ £ £
60,432 10,000 70,432 53,273
3
Other trading activities
Unrestricted Unrestricted
funds funds
general general
2021 2020
£ £
Fundraising events 179 1,244

UKLFI CHARITABLE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

4 Charitable activities

Charitable activities Charitable activities Charitable activities Charitable activities Charitable activities Charitable activities Charitable activities
Cost of
generating funds
Educational
program
Legal
support
Governance
costs
Support
costs
Antisemitis
m Research
2021
2021
2021
2021
2021
2021
£
£
£
£
£
£		 Total
2021		 Total
2020
2021 2021 2021 2021 2021 2021
£ £ £ £ £ £ £ £
Depreciation and impairment - - - - - - - 364
Venue hire, catering and related costs 5 1,327 - - - - 1,332 1,105
Advertising, promotional, printing, postage and
stationary
- - - - - - - 235
Travel and volunteers expenses - - - - - - - 191
Website costs 186 - - - - - 186 252
Insurance and general 516 - - - - - 516 1,425
Bank charges 43 - - - - - 43 36
Consultancy and assistance 3,013 13,757 13,593 1,221 1,687 3,619 36,890 46,846
Accountancy fees - - - 3,300 - - 3,300 4,200
Sundry - - - - - - - 262
Rent - - - - - - - 7,088
Loss on foreign exchange 104 - - - - - 104 397
3,867 15,084 13,593 4,521 1,687 3,619 42,371 62,401
Share of support costs (see note ) 180 704 634 - (1,687) 169 - -
Share of governance costs (see note ) 484 1,886 1,699 (4,521) - 452 - -
Analysis by fund
4,531 17,674 15,926 - - 4,240 42,371 62,401
Unrestricted funds - general 4,531 7,674 15,926 - - 4,240 32,371 58,047
Restricted funds - 10,000 - - - - 10,000 4,354
4,531 17,674 15,926 - - 4,240 42,371 62,401

UKLFI CHARITABLE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

4
Charitable activities
(Continued)		 4
Charitable activities
(Continued)		 4
Charitable activities
(Continued)		 4
Charitable activities
(Continued)		 4
Charitable activities
(Continued)		 4
Charitable activities
(Continued)		 4
Charitable activities
(Continued)		 4
Charitable activities
(Continued)
For the year ended 31 December 2020
Cost of generating
funds
Educational
program
Legal
support
Governance
costs
Support
costs
Antisemitis
m Research
£
£
£
£
£
£
Depreciation and impairment
364
-
-
-
-
-
Venue hire, catering and related costs
-
1,105
-
-
-
-
Advertising, promotional, printing, postage and stationary
235
-
-
-
-
-
Travel and volunteers expenses
-
183
-
8
-
-
Website costs
252
-
-
-
-
-
Insurance and general
1,425
-
-
-
-
-
Bank charges
36
-
-
-
-
-
Consultancy and assistance
2,960
7,519
5,901
4,392
9,407
16,667
Accountancy fees
-
-
-
4,200
-
-
Sundry
-
262
-
-
-
-
Rent
7,088
-
-
-
-
-
Loss on foreign exchange
397
-
-
-
-
-
12,757
9,069
5,901
8,600
9,407
16,667
Share of support costs (see note )
2,703
1,922
1,250
-
(9,407)
3,532
Share of governance costs (see note )
2,471
1,757
1,143
(8,600)
-
3,229
17,931
12,748
8,294
-
-
23,428
Analysis by fund
Unrestricted funds - general
17,931
12,748
8,294
-
-
19,074
Restricted funds
-
-
-
-
-
4,354
17,931
12,748
8,294
-
-
23,428
Total
2020
£ £ £ £ £ £ £
364 - - - - - 364
- 1,105 - - - - 1,105
235 - - - - - 235
- 183 - 8 - - 191
252 - - - - - 252
1,425 - - - - - 1,425
36 - - - - - 36
2,960 7,519 5,901 4,392 9,407 16,667 46,846
- - - 4,200 - - 4,200
- 262 - - - - 262
7,088 - - - - - 7,088
397 - - - - - 397
12,757 9,069 5,901 8,600 9,407 16,667 62,401
2,703 1,922 1,250 - (9,407) 3,532 -
2,471 1,757 1,143 (8,600) - 3,229 -
17,931 12,748 8,294 - - 23,428 62,401
17,931 12,748 8,294 - - 19,074 58,047
- - - - - 4,354 4,354
17,931 12,748 8,294 - - 23,428 62,401

UKLFI CHARITABLE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

5 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year.

The total amount of donations received without conditions from trustees amounted to £7,220 (2020: £5,040).

6 Employees

There were no employees in the current or previous year.

7
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 7
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 7
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
2021 2020
£ £
2,500 -
516 -
3,016 -
8
Creditors: amounts falling due within one year
Other creditors
Accruals and deferred income		 2021 2020
£ £
1,011 8,531
4,056 4,500
5,067 13,031
9
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2021
2021
£
£
Fund balances at 31
December 2021 are
represented by:
Current assets/(liabilities)
41,770
546
41,770
546		 Total
Unrestricted
funds
Restricted
funds		 Total
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £
41,770 546 42,316 13,530 546 14,076
41,770 546 42,316 13,530 546 14,076

UKLFI CHARITABLE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

10 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2021 2020
£ £
Within one year - 2,994

11 Related party transactions

Transactions with related parties

During the year, UKLFI Limited, a company with common key personnel charged £36,549 (2020: £53,560) to the charity in connection with secondment of staff and other support costs.

The following amounts were outstanding at the reporting end date:

Amounts owed to related Amounts owed to related
parties
2021 2020
£ £
Other related parties 1,010 8,531