2023-12-31-accounts

Legatandadministrativeinformation
Trustees’report
independentauditors’report
Statementoffinancialactivities
Balancesheet
Statementofcashflows
Notestothefinancialstatements	18 -29

	Note	2023	2022
		$°000	$’000
Incomefrom:
Investments	2	981	726
Total		981	726
Expenditureon:
Raisingfunds:
Investmentmanagement		1,129	715
Charitableactivities	3	6,012	6,615
Totalexpenditure		7,141	7,330
Netexpenditurefortheyearbeforeinvestmentgains		(6,160)	(6,604)
Netgains/ (losses)oninvestments	7	16,300	(18,501)
Netincomeandnetmovementinfunds		10,140	(25,105)_
Reconciliationoffunds:
Totalfundsbroughtforward		94,386	119,491
Totalfundscarriedforward	16	104,526	94,386

		2023		2022
	Note	$7000	$7000	$000	$’000
Fixedasset
Tangibleassets	8		-		-
Investments	9		103,890		100,141
Programmerelatedinvestment	10		3,041		3,041
			106,931		103,182
Currentassets
Debtors	11	62		37
Cashatbankandinhand		7,700		2,799
		7,762		2,836
Creditors:amountsfallingduewithin
oneyear	12	(7,974)		(8,814)
Netcurrentassets/ (liabilities)			188		(5,978)
Totalassetslesscurrentliabilities			107,119		97,204
Creditors:amountsfallingdueinmore
thanoneyear	13		(2,593)		(2,818)
Netassets			104,526		94,386
Funds
Incomeandendowmentfunds	14		104,526		94,386
Totalfunds			104,526		94,386

	Note	2023 $7000	2022 $’000
Cashflowsfromoperatingactivities Netcash usedinoperatingactivities	16	(8,528)	(7,332)
Cashflowsfrominvestingactivities Dividendsandinterestfrominvestments Proceedsfromthesaleofinvestments Purchaseofinvestments Netcashprovidedbyinvestingactivities		981 17,870 (10,789) 8,062	726 19,981 (15,904) 4,803
Decreaseincashandcashequivalentsintheyear Cashandcashequivalentsbroughtforward Cashandcashequivalentscarriedforward	17	(466) 15,668 15,202	(2,529) 18,197 15,668
Thenotesonpages18to29formpartofthesefinancial	statements.

Tangiblefixedassetsarecarriedatcostless towriteoffthecostoffixedassets,lesstheir	depreciation.Depreciationis estimatedresidualvalue,over	providedatratescalculated theirexpectedusefullives
onthefollowingbases:
Leaseholdimprovements -	10%straightline(periodof	lease)
Fixtures& fittings “	20%reducingbalance
Computerequipment -	20%straightline

Investmentincome
	2023	2022
	$7000	$’000
incomefromlistedinvestments Incomefromprivateequityinvestments incomefrommanagedfunds Bankandotherinterest- UK	417 1 3 560	372 211 143	-
	981	726

3.	Expenditureoncharitableactivities	Expenditureoncharitableactivities
			Grantfunding of		Total
			activities(note4)	Supportcosts	2023
	2023		$7000	$’000	$’000
	Community		1,055	137	1,192
	Education		1,158	232	1,390
	Pathways	toSelf-Sufficiency	1,309	177	1,486
	Medical	Advancement	-	-	-
	Welfare		1,699	222	1,921
	CultureandtheArts		20	3	23
			5,241	771	6,012
			Grantfundingof		Total
			activities(note4)	Supportcosts	2022
	2022		$000	$000	$000
	Community		1,047	138	1,185
	Education		1,065	141	1,206
	Pathways	toSelf-Sufficiency	935	123	1,058
	MedicalAdvancement		15	2	17
	Welfare		2,182	367	3,149
	CultureandtheArts		-	-		-
			5,844	771	6,615

NOT EQR	ESTO THEYEARENDED31DECEMBER2023
4	Grantsawardedintheyear	2023 $7000	2022 $°000
	Community BeitHalochem EducatingforImpact BeitIssieShapiro Kesher- TheHomeforSpecialFamilies TheJerusalemFoundation TheCoalitionforHarediEmployment Varioussmallanddiscretionarygrants<815,000	= - - - 4,055 - - 1,055	60 750 180 20 - 25 12 4,047
	Education Aluma-YoungPeopleforChange BritishCouncil JerusalemAcademyofMusicandDance Leshem OhelSarah OpenUniversityofIsrael TefahotYeshiva YeshivatOhelShimon YouthLeadChange-Aharal Varioussmallanddiscretionarygrants<$15,000 CancelledGrant- RabbinseminarzuBerline.V.	- 720 - 450 - : - 60 550 5 (627) 4,158	150 - 15 - 500 300 100 - - - : 1,065
	PathwaystoSelf-Sufficiency Be-Atzmi JaffaInstitute JDC/HarediEmploymentCoalition Lishma360 Quantum ShikumAcher TheHarediInstituteforPublicAffairs Yeladim YoungBusinessLeadership CancelledGrants- Milbat	- 250 100 240 500 - - 150 120 (51) 1,309	200 - - - - 185 550 - - - 935
	MedicalAdvancement ShaareZedekUK	-	15

F	TS RTHEYEARENDED31DECEMBER2023
4	Grantsawardedintheyear(continued)
	Welfare AmericanJDC BatMelech BeitIssieShapiro BILY -BayitlekolYeled -A HomeforEveryChild Eitan- EverybodyCan IsraelTraumaCoalition JewishAgencyforIsrael Leket Mosaica,Religion,SocietyandState NATAL Quantum Shalva TheCoalitionforHarediEmployment TheGarage(AmutahDarom) TheJerusalemHillsTherapeuticCenters ThePaulBaerwaldSchoolforSocialWorkandSocialWelfare, TheHebrewUniversityofJerusalem ThePublicForum TikvaUK WorldJewishRelief WusteTzega YadSarah Yeladim Varioussmallanddiscretionarygrants<$15,000 CultureandtheArts NationalLibraryofIsrael	2023 $7000 25 548 50 180 - 16 50 100 91 25 100 50 20 54 30 - 100 100 - 25 50 50 35 1,699	2022 $’000 - - 1,500 - 60 - - - - - - - - - - 750 - 100 352 - - - 21 2,783
	Total(note3)	20	-
		5,241	5,844

	2023	2022
	$’000	$’000
Wagesandsalaries	326	325
Socialsecuritycosts	49	48
Pensionandinsurancecontributions	39	35
	414	408

	2023	2022
	No.	No.
Administrative	2	2
Grantmanagement	3	4
	5	6

Administrative	Administrative	0.3	0.4
Grant	management	2.2	2.3
		2.5	2.7
The	numberofhigherpaidemployeesbytheFoundationwas:
		2023	2022
		No	No
Inthe	band$84,704-$96,805	1	1
Inthe	band$101,850-§114,580	1		-

6.	Netincome
	Thisisstatedaftercharging:
						2023		2022
						$7000		$’000
	Auditors’remuneration(excludingVAT)
	- Auditservices					34		24
	- Accountancyservices					-		11
	Operatingleases—landand	buildings				57		59
	Netgains/ (losses)oninvestments
						2023		2022
						$’000		$’000
	Netgains/ (losses)onrevaluationoffixedasset			investments(note	9)	16,198		(18,160)
	Foreignexchangedifferences					102		(341)
						16,300		(18,501)
	Tangiblefixedassets
				Leasehold	Fixtures&	Computer
				improvements	fittings	equipment		Total
				$7000	$’000	$7000		$7000
	Cost
	At31December2022and31	December	2023	5	2		5	12
	Depreciation
	At 31December2022and31	December	2023	5	2		5	12
	Netbookvalue
	At31December2022and31	December	2023
	Fixedassetinvestments
						2023		2022
						$7000		$’000
	Marketvalueat1 Jan					100,141		125,789
	Additionsatcost					10,789		15,904
	Proceedsondisposal					(17,870)		(19,980)
	Movementininvestmentcash					(5,368)		(3,412)
	Netgains/ (losses)onrevaluation					16,198		(18,160)
	Marketvalueat31December					103,890		100,141

Investmentsheldatyearendcomprise:
	2023	2022
	$’000	$000
Listedinvestments PrivateEquityInvestments ManagedFunds Cashorcashequivalents	32,687 9,562 54,139 7,902 103,890	29,487 8,765 49,020 12,869 100,141

	2023	2022
	$000	$’000
Prepayments Accruedincome	26 36 62	20 17 37
Creditors:Amountsfallingduewithinoneyear
	2023	2022
	$7000	$’000
AmountsowedtoTheMauriceWohlCharitableFoundation Accrualsandsundrycreditors Accrualsforgrantspayable	351 99 7,124 7,574	351 89 8,374 8,814

Creditors:	Amount	sfallingdueaftermorethanone	year
			2023	2022
			$7000	$’000
Accrualsfor	grants	payable	2,093	2,818

			2023	2022
	Amounts	payable:	$7000	$’000
	Within 1 Between	year 1and5 years	30 -	56 28
			30	84
16.	Reconciliationofnetmovementinfundstonetcash		flowfromOperatingactivities

		2023	2022
		$’000	$’000
	Netincome/(expenditure) fortheyear(asperStatement of FinancialActivities)	10,140	(25,105)
	Adjustmentfor:
	(Gains)/Lossesoninvestments Dividends,interestandrentsfrominvestments (Increase)/decrease indebtors (Decrease)increase increditors Netcashusedinoperatingactivities	(16,198) (981) (24) (1,465) (8,528)	18,160 (727) 52 288 (7,332)
17.	Analysisofcashandcashequivalents
		2023	2022
		$7000	$’000
	Cashinhand Cashbalancesheldininvestments(note9)	7,700 7,502	2,/99 12,869
		15,202	15,668
	TheFoundationdoesnothaveanydebt.