2023-03-31-accounts

				Page
Reference and administrative			details ofthe Charity, its Trustees and advisers
Trustees' report				2-6
Independent	auditors'	report	on the financial statements	7-10
Consolidated	statement offinancial activities
Consolidated	balance	sheet		12
Charity balance sheet				13
Consolidated	statement ofcash flows			14
Notes to the	financial	statements		15-30

Trustees			P Crystal
			G Djanogly
			E Lee
			BMarkeson
			M Naggar
			C Zabludowicz
			C Wills
Company	registered
number			10384576
Charity registered
number			1171510
Registered		office	2nd Floor
			168Shoreditch		High	Street
			London
			E1 6RA
Independent		auditors	Kreston Reeves		LLP
			Chartered Accountants
			Statutory Auditor
			2nd Floor
			168Shoreditch		High	Street
			London
			E1 6RA
Bankers			Natwest Pic
			1 Abbey Road
			London
			NW10 7RA
Hon. Solicitors			Bryan Cave	Leighton		Paisner
			Governor's	House
			5Laurence	Pountney		Hill
			London
			EC4R OBR

				Unrestricted	Restricted	Endowment	Total	Total
				funds	funds	funds	funds	funds
				2023	2023	2023	2023	2022
			Note	6	6	6	6	F
Income and
endowments		from:
Donations and		legacies		189,677	4,976		194,653	155,355
Charitable activities				316,979			316,979	1,951
Other trading	activities			280,112			280,112	86,342
Investments						389,094	389,094	317,904
Total income		and
endowments				786,768	4,976	389,094	1,180,838	561,552
Expenditure	on:
Raising funds				228,842			228,842	102,331
Charitable activities				794,547	4,976		799,523	846,116
Total expenditure				1,023,389	4,976		1,028,365	948,447
Net (expenditure)l
income before net
gains on
investments				(236,621)		389,094	152,473	(386,895)
Net gains on
investments						242,697	242,697	723,220
Net (expenditure)l
income				(236,621)		631,791	395,170	336,325
Transfers between
funds			18	389,094		(389,094)
Net movement		in
funds				152,473		242,697	395,170	336,325
Reconciliation		of
funds:
Total funds brought
forward				449,196		13,446,872	13,896,068	13,559,743
Net movement		in funds		152,473		242,697	395,170	336,325
Total funds carried
forward				601,669		13,689,569	14,291,238	13,896,068

						2023		2022
				Note		8		F
Fixed assets
Tangible assets				14		79		410
Investments				15		14,035,071		13,812,038
						14,035,150		13,812,448
Current assets
Debtors				16	45,227		48,065
Cash at bank	and	in	hand		246,668		84,187
					291,895		132,252
Creditors: amounts			falling due within one
year				17	(35,807)		(48,632)
Net current	assets					256,088		83,620
Total net assets						14,291,238		13,896,068
Charity funds
Endowment	funds			18		13,689,569		13,446,872
Restdicted funds				18
Unrestricted	funds			18		601,669		449,196
Total funds						14,291,238		13,896,068

Consolidated statement ofcash flows
Forthe year ended 31 March 2023
				Note	2023	2022f
Cash flows from operating activities
Net cash used in operating activities				21	(48,668)	(2,249,514)
Cash flows from investing activities
Proceeds from sale oftangible fixed assets						(158)
Dividends and interest from investments					389,094	317,904
Proceeds from sale of investments					2,496,888	2,386,910
Purchase of investments					(2,674,833)	(1,214,450)
Net cash provided by investing activities					211,149	1,490,206
Change in cash and cash equivalents	in	the year			162,481	(759,308)
Cash and cash equivalents at the beginning		ofthe year			84,187	843,495
Cash and cash equivalents at the end	of	the year		22	246,668	84,187
The notes on pages 15to 30form part ofthese financial			statements

	Unrestricted	Restricted	Total	Total
	funds	funds	funds	funds
	2023 6	2023 6	2023f	2022
Donations	189,677	4,976	194,653	155,355
Total 2022	128,344	27,011	155,355

			Unrestricted	Total	Total
			funds	funds	funds
			2023	2023	2022
			6	6	6
Gala	dinner	auction	316,979	316,979	1,951
Total	2022		1,951	1,951

	Unrestricted	Total	Total
	funds	funds	funds
	2023	2023	2022
		F
Income from the Gala, gallery trips &other events	280,112	280,112	86,342
Total 2022	86,342	86,342

		Endowment	Total	Total
		funds	funds	funds
		2023	2023	2022f
Dividends	from listed investments	359,049	359,049	245,942
Interest from investments		30,045	30,045	71,962
		389,094	389,094	317,904
Total 2022		317,904	317,904

		Unrestricted	Total	Total
		funds	funds	funds
		2023	2023	2022
				F
Auction expenses		43,165	43,165	63,196
Total 2022		63,196	63,196
Other trading	expenses
		Unrestricted	Total	Total
		funds	funds	funds
		2023 6	2023	2022f
Event expenses		185,543	185,543	35,401
Administration	expenses	134	134	3,734
		185,677	185,677	39,135
Total 2022		39,135	39,135

	Unrestricted	Restricted
	funds	funds	Total	Total
	2023 8	2023f	2023 8	2022f
Expenditure	794,547	4,976	799,523	846,116
Total 2022	819,105	27,011	846,116

			Grants to	Total	Total
			Institutions	funds	funds
			2023	2023 f	2022 E
Grants,	Educational	&Social Welfare	544,635	544,835	714,046
Total 2022			714,046	714,046

		2023	2022
Name of institution
Israel Museum, Jerusalem		329,135	618,410
Tel Aviv Museum of Art		100,000	36,000
Museums of BaiYam		10,000	4,000
Herzliya Museum of Art		10,000	5,000
Petach Tikva Museum	ofArt	15,000	4,000
Design Museum Holon		10,000	4,000
Ein Harod Museum		10,000	10,000
Haifa Museum of Art		20,000	4,000
Zumu Museum		8,000	4,000
Negev Museum		5,000	4,000
Nahum Gutman Museum		5,000	3,500
Janco Dada Museum		5,000	3,500
Rubln Museum		5,000	4,000
Beit Ha'Gefen		10,000	4,000
Wilfrid Israel Museum		2,500
American Friends of Israel Museum			5,636
		544,635	714,046

Grant
funding of	Support	Total	Total
activities	costs	funds	funds
2023	2023	2023	2022
6	F	8
544,635	254,888	799,523	846,116
714,046	132,070	846,116

			Educational	Educational
				&Social	Total	Total
				Welfare	funds	funds
				2023	2023	2022
				6	6
Staff costs				43,757	43,757	74,054
Legal and professional				81,765	81,765	1,332
Telephone				212	212	144
Rent				638	638	4,140
Consulting				24,784	24,784
Postage and	stationery			27,945	27,945	1,126
Bank charges				3,602	3,602	5,313
General expenses				27,807	27,807	2,827
Computer expenses				971	971	11,658
Insurance				5,810	5,810	3,877
Travel expenses				8,791	8,791	2,141
Depreciation				331	331	331
Event expenses						593
Bad debt				485	485
Advertising and marketing				426	426	234
Governance	costs			27,564	27,564	24,300
				254,888	254,888	132,070
Total 2022				132,070	132,070
Auditors' remuneration
					2023	2022
						F
Fees payable	to the Charity's	auditor	for the audit ofthe Charity's	annual
accounts					14,500	13,200
Fees payable	to the Charity's	auditor	in respect of:
All non-audit	services not included above				6,675	6,050

			Group	Group	Charity	Charity
			2023 6	2022f	2023 F	2022 F
Wages and	salaries		42,679	67,261	42,679	67,261
Social security costs				4,737		4,737
Contribution	to defined contribution	pension
schemes			1,078	2,056	1,078	2,056
			43,757	74,054	43,757	74,054

			Group	Group	Charity	Charity
			2023	2022	2023	2022
			No.	No.	No.	No.
Average	number	ofemployees	1	2	1

Fort	he year ended 31 March 2023
14.	Tangible fixed assets
	Group and Charity
				Office
				equipment
				8
	Cost
	At 1 April 2022			1 323
	At 31 March 2023			1 323
	Depreciation
	At 1 April 2022			913
	Charge for the year			331
	At 31 March 2023			1,244
	Net book value
	At 31 March 2023			79
	At 31 March 2022			410
15.	Fixed asset investments
		Listed	Unlisted
		investments	investments	Total
	Group and Charity	8	6
	Valuation
	At 1 April 2022	12,138,280	1,673,758	13,812,038
	Additions	2,674,833		2,674,833
	Disposals	(2,414,214)		(2,414,214)
	Revaluations	116,222		116,222
	Movement in cash		(153,808)	(153,808)
	At 31 March 2023	12,515,121	1,519,950	14,035,071
	Net book value
	At 31 March 2023	12,515,121	1,519,950	14,035,071
	At 31 March 2022	12,138,280	1,673,758	13,812,038

		Group	Group	Charity	Charity
		2023	2022	2023	2022
		E	E	E	E
Due within one year
Trade debtors		11,093	14,043	11,093	14,043
Other debtors		32,162	31,743	32,162	31,743
Prepayments	and accrued income	1,972	2,279	1,972	2,279
		45,227	48,065	45,227	48,065

		Group	Group	Charity	Charity
		2023	2022	2023	2022
		E	E	E	E
Trade creditors		9,640	18	9,640	18
Amounts	owed to group undertakings			94,739	47,507
Other creditors			16		18
Accru ala		26,167	48,598	22,567	44,998
		35,807	48,632	126,946	92,539

								Balance at
			Balance at 1			Transfers	Gains/	31 March
			April 2022 6	Income E	Expenditure 6	in/out F	(Losses) f	2023 E
Unrestricted
funds
General	Fund		449,196	786,768	(1,023,389)	389,094		601,669
Endowment
funds
Endowment
Fund			13,446,872	389,094		(389,094)	242,697	13,689,569
Restricted
funds
Restricted		Funds		4,976	(4,976)
Total of	funds		13,896,068	1,180,838	(1,028,365)		242,697	14,291,238

Statement	offunds		(continued)
Statement	offunds		- prior year
								Balance at
		Balance at				Transfers	Gains/	31 March
		1	April 2021 6	Income E	Expenditure F	in/out 6	(Losses)	2022 6
Unrestricted
funds
General Fund			836,091	216,637	(921,436)	317,904		449,196
Endowment
funds
Endowment
Fund		12,723,652		317,904		(317,904)	723,220	13,446,872
Restricted
funds
Restricted	Funds			27,011	(27,011)
Total offunds		13,559,743		561,552	(948,447)		723,220	13,896,068

						Balance at
	Balance at 1			Transfers	Gains/	31 March
	April 2022	Income F	Expenditure 6	in/out 6	(Losses) 6	2023 6
General funds	449,196	786,768	(1,023,389)	389,094		601,669
Endowment
funds	13,446,872	389,094		(389,094)	242,697	13,689,569
Restricted funds		4,976	(4,976)
	13,896,068	1,180,838	(1,028,365)		242,697	14,291,238

Summary	off	unds -	prior year
								Balance at
		Balance at				Transfers	Gains/	31 March
		1 April 2021		Income	Expenditure	in/out	(Losses)	2022
			8		E	8	E	6
General funds			836,091	216,637	(921,436)	317,904		449,196
Endowment
funds		12,723,652		317,904		(317,904)	723,220	13,446,872
Restricted	funds			27,011	(27,011)
		13,559,743		561,552	(948,447)		723,220	13,896,068
Analysis	of net assets between			funds
Analysis	of net assets between			funds - current year
						Unrestricted	Endowment	Total
						funds	funds	funds
						2023	2023	2023
						E	8	6
Tangible	fixed	assets				79		79
Fixed asset investments						345,502	13,689,569	14,035,071
Current assets						291,895		291,895
Creditors	due within one year					(35,807)		(35,807)
Total						601,669	13,689,569	14,291,238
Analysis	of net assets between			funds - prior	year
						Unrestricted	Endowment	Total
						funds	funds	funds
						2022	2022	2022
						F	8	8
Tangible	fixed	assets				410		410
Fixed asset investments						365,166	13,446,872	13,812,038
Current assets						132,252		132,252
Creditors	due	within	one year			(48,632)		(48,632)
						449,196	13,446,872	13,896,068

				Group	Group
				2023	2022
				6	F
	Net income for the year (as per Statement ofFinancial Activities)			395,170	336,325
	Adjustments for:
	Depreciation charges			331	331
	Dividends, interests Decrease in debtors Decrease in creditors Realised gains Unrealised gains	and rents from investments		(389,094) 2,838 (12,825) (82,674) (116,222)	(317,904) 8,550 (15,970) (121,536) (1,025,497)
	Movement in cash in	capital	accounts	153,808	(1,113,813)
	Net cash used in operating		activities	(48,668)	(2,249,514)
22.	Analysis ofcash and cash		equivalents
				Group	Group
				2023	2022
				6
	Cash in hand			246,668	84,187
	Total cash and cash equivalents			246,668	84,187

				At 1 April		At 31 March
Cash	at bank and		in hand	2022 F 84,187	Cash flows 162,481	2023f 246,668
Debt	due within	1	year	(16)	16
				84,171	162,497	246,668