| Page | ||
|---|---|---|
| Trustees' Report |
||
| Independent Auditors' |
Report | |
| Statement ofFinand@ | Activities | |
| Balance Sheet | 12 | |
| Cash Flow Statement | 13 | |
| Notes to the Financial | Statements | 14 |
| Notes | 31March | 31 March | |
|---|---|---|---|
| 2021 | 2020 | ||
| 8'000 | K'000 | ||
| Income: | |||
| Investments | 869 | 992 | |
| Dona8ons | 630 | ||
| Total income | 1,499 | 992 | |
| Expenditure on: |
|||
| Raising funds | 77 | 70 | |
| Charitable activiTies |
|||
| Grant making acbviTies: |
|||
| Science and medicine | 1,149 | 1,036 | |
| Education | 155 | 70 | |
| Health and disability | 933 | 248 | |
| Arts and humanities | 330 | ||
| Total charitable expenditure |
2237 | ||
| Total expenditure | 2,314 | 1,754 | |
| Net expenditure and net movement |
In funds before | ||
| gains and losses on investments | (815) | (762) | |
| Realised and unrealised gains i(losses) on investments: |
|||
| Disposal and revaluation 10 Foreign exchange gains I(losses) |
9,346 179 |
(1,740) (479) |
|
| Net movement In funds |
8,710 | (2,981) | |
| Reconciliation offunda | |||
| Total funds brought forward | 32,853 | 35,834 | |
| Total funds carried forward | 41,563 | 32,853 |
| Notes | |||||||
|---|---|---|---|---|---|---|---|
| 31 March | 31March | ||||||
| 2021 | 2020 | ||||||
| 0.'000 | 8'000 | 8'000 | F.'000 | ||||
| Fixed asseta | |||||||
| Investmsnts | 10 | 41,199 | 33,625 | ||||
| Current assets | |||||||
| Invesonenor | 10 | 3731 | 2,167 | ||||
| Debtors | 11 | 85 | 78 | ||||
| Cash at bank | 13 | 13 | |||||
| 3,329 | 2,258 | ||||||
| Creditom falling due within |
|||||||
| one year | 12 | (2,248) | (2,277) | ||||
| Net current assets | 1,081 | (19) | |||||
| Total assets | less current liabilities | 42,280 | 33,607 | ||||
| Creditors falling due after | |||||||
| one year | 13 | (717) | (754) | ||||
| Total net assets | 41,563 | 32,853 | |||||
| Funds | |||||||
| Expendable | endowment | fund | 41,563 | 32,853 |
| FORTHE | YEAR ENDED 3 | 1 MARCH 2021 | ||||
|---|---|---|---|---|---|---|
| Notes | ||||||
| 31 March | 31 March | |||||
| 2021 | 2020 | |||||
| 8'000 | 8'000 | |||||
| Cash used In operagng ac6vltlse |
14 | (1,732) | (2,350) | |||
| Cash flows from Investing | activities | |||||
| Dividends | and interest and | distributions | ||||
| from invesirnents | 3 | 869 | 992 | |||
| Purchase Proceeds |
ofinvesbnenis from disposai ofinvestments |
10 10 |
(12,923) 14,850 |
(13,034) 13,986 |
||
| (increase) | / decrease in current asset |
|||||
| investments | (1,064) | 406 | ||||
| Net cash | provided by Investing activities |
1,732 | 2,360 | |||
| Decrease | In cash and cash equivalents | during | the year | |||
| Cash and | cash equivalents | brought forward | 13 | |||
| Cash and | cash equivalents | carried forward | 13 |
| 3. Investment income |
|||||
|---|---|---|---|---|---|
| 2021 | 202D | ||||
| 6'000 | E'DDD | ||||
| Dividends-UK companies, |
unit | trusts and OEICS | 46 | 57 | |
| Dividends-Foreign securIDes, |
unit trusts and OEICS | 200 | 260 | ||
| Interest-UK securities, unit |
trusts and OEICS | 4 | 17 | ||
| Interest-Foreign securities, |
unit trusts, OEICS and Eurobonds | 52 | 116 | ||
| Interest-cash deposits |
1 | ||||
| Distribution —Oxford University | Endowment Management |
Ltd. | 567 | 541 |
| Investment | Investment | returns compared | ta the | Trust's | objecthre | ||||
|---|---|---|---|---|---|---|---|---|---|
| 2017 | 2018 | 2019 | 2020 | 2021 | 2017 | ||||
| -2021 | |||||||||
| Average | |||||||||
| Actual | return | %(B/A) | 17.58% | (0.35%) | 7.88% | (3.35/o) | 28,82% | 10.22'yo | |
| Target | return | '%%d (RPI+4%) | C | 7.30% | 7.62% | 6.99% | |||
| Target | return | '%%d (CPI+4'/o) | C | 550/o | 5 01 /' | ||||
| Return | (below) / in excess of | ||||||||
| target | % | 10.28% | (797%) | 0.69% | (8.85%) | 23.81% | 3.73% | ||
| 2017 | 2018 | 2019 | 2020 | 2021 | Total | ||||
| 8'000 | 8'000 | 8'000 | CODD | 8'000 | 8'000 | ||||
| Actual Target |
return return |
L"000 F'000 (CxA) |
B | 6,050 2,580 |
(151) 2,985 |
2,891 2,632 |
(1,296) 2,138 |
10,317 1,794 |
17,811 12,129 |
| Return | (below) / in excess of | ||||||||
| target | OOOO | 3,470 | (3,136) | 259 | (3,434) | 8,523 | 5,682 |
| 19support fund. All donations were dis 8. Grant making activities |
bursed during the year. |
|||
|---|---|---|---|---|
| Grants | Atlocated | |||
| awarded | expenses | Total | Total | |
| (net) 8'000 |
(note 6) 8'000 |
2021 8'000 |
2020 8'000 |
|
| Science and rnedidne Education |
1,100 107 |
49 48 |
1,149 155 |
1,036 70 |
| Health and disability | 885 | 48 | 933 | 248 |
| Arts end humanities | 330 | |||
| 2,092 | 145 | 2,237 | 1,684 |
| 31 March | 31 March | |||||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| E'000 | E'000 | |||||
| Due Due |
within after |
one more |
year than |
(nolo 12) one year (nots 13) |
2,048 717 |
2,261 754 |
| 2,765 | 3,015 |
| Market | Market | |||||
|---|---|---|---|---|---|---|
| value | Gains/ | value | ||||
| 2020 E'000 |
Purchases E'000 |
Sales E'000 |
(losses) E'OGO |
2021 E'000 |
||
| Equities Fixed Income Absolute Returns |
24,376 2,994 |
8,025 'I,006 |
(9,655) (1,952) |
8,943 763 |
31,689 2,811 4 |
|
| Real Assets Gills and Others |
5,458 793 |
1,765 2,127 |
(1,760) (1,483) |
(81) (124) |
5,382 1,313 |
|
| 33,625 | 12,923 | (14,850) | 9,501 | 41,199 | ||
| Current asset Investments | ||||||
| Cash held forfuture investment | 2,167 | (157) | 3,231 | |||
| Total Investment | assets | 35,792 | 44,430 | |||
| 11.Debtors | 31March | 31 INarch | ||||
| 2021 | 2020 | |||||
| E'OGO | E'000 | |||||
| Accrued income Sundry debtom |
71 14 |
65 13 |
||||
| 85 | 78 |
| 12.Creditors | failing due within one year | ||
|---|---|---|---|
| 31 March | 31 March | ||
| 2021 | 2020 | ||
| 2'000 | 8'000 | ||
| Grants payabie Other creditors |
(note 9) | 2,046 290 |
2,261 16 |
| 2,248 | 2,277 | ||
| 13.Creditors | falling due alter one year | ||
| 31 March | 31 March | ||
| 202'I | 2020 | ||
| 8*000 | PGGG | ||
| Grants payable | (note 9) | 717 |
| 14.Reconciliation ofnet movement in funds to net |
cash used in operating activ |
ities |
|---|---|---|
| 31 March | 31 March | |
| 2021 | 202G | |
| 8'000 | 5'000 | |
| Net incoming I(outgoing) resources (Gains) flosses on investments Dividend income (increase) Idecrease in debtors Decrease in creditors |
8,710 (9,501) (669) (6) (66) |
(2,981) 1,720 (992) 32 (129) |
| Net cash used in operating activities |
(1,732) | (2,350) |
| 15.A | nalysis ofchanges in cash |
balances | during the y | ear | ||
|---|---|---|---|---|---|---|
| 31 March | Foreign | 31March | ||||
| 2020 f'000 |
Cash flow 6'000 |
Exchange 8'000 |
2021 6'900 |
|||
| Cash Cash |
at bank held as part ofthe investment |
portfolio | 13 2,167 |
1,221 | (157) | 13 3,231 |
| 2,180 | 1,221 | (157) | 3,244 |
| Hebrew University ofJerusalem, Israel (joint gmnt wilh the Woifson Foundation tctalling |
6550,000) | 220,000 | |
|---|---|---|---|
| Tschnion - Israel Institute ofTechnology, Haifa, Israel ()oint grant with Ihs Wolfson Foundation totalling 8460,000) |
184,000 | ||
| Weizmann Institute ofScience, Rshovot, Israel (joint grant with the Wolfson Foundation totalling |
8460,000) | 184,000 | |
| Tel-Aviv University, israel (joint grant with the Wolfson Foundation totalling |
6391,000) | 156,400 | |
| Ben-Gurion University, Beer Shave, Israel (joint grant with the Wolfson Foundation totalling |
6325,000) | 130,000 | |
| Bsr-lian University, Rsmat Gen, israel gojnt grant with the wolfson Foundation totalling |
8314,000) | 125.600 | |
| Exceptional Award |
|||
| Israel Science Foundation, Jerusalem, Israel - Research programme to help understand the spread and the paihogenesis Israeli universities (in partnership with a consortium offunders) |
ofcoronsvirus, | 100,000 across |
|
| Total Science and Medicine (7grants) | 1,1oe,occ | ||
| Education | |||
| Academy of Nledical Sciences, London W1 - Daniel Tumberg UK/Middle East Travel Fellowship Scheme (over 3years) |
100,000 | ||
| Prism, London W1 -Wolfson Jewish Education Fund |
7,200 | ||
| Total Education (2grants) |
107,200 |
| Hosploe ofthe Upper Galilee, Rosh Pins, Israel - Medica! vehids (eward converted tounrestricted pandemic) |
Hosploe ofthe Upper Galilee, Rosh Pins, Israel - Medica! vehids (eward converted tounrestricted pandemic) |
Hosploe ofthe Upper Galilee, Rosh Pins, Israel - Medica! vehids (eward converted tounrestricted pandemic) |
Hosploe ofthe Upper Galilee, Rosh Pins, Israel - Medica! vehids (eward converted tounrestricted pandemic) |
funding | funding | in | response to Covid-19 20,000 |
|---|---|---|---|---|---|---|---|
| SOS Children's Villages Israel, - Children's beds et Neradim |
Petach Tikvah, Israel Children's Village |
16,000 | |||||
| Shalhevsth, Jerusalem, israel - Air conditioning units for aperbnents |
for people with | physical | disabilides 9,100 |
||||
| Covid-19 Support Fund | |||||||
| The fallowing organisaiions received unrestricted |
funding | under | ths Wolfson Covid-19 Support Fund: | ||||
| Social care consortium —Jewish Homes Emergency |
Appeal: Jewish Care, | Nightingale | and The Fed 165,000 |
||||
| Chai Cancer Care, London NW4 | 100,000 | ||||||
| JAMI, Edgware, Middlesex |
100,000 | ||||||
| Norwood, Stanmore, Middlesex |
100,000 | ||||||
| Gesher School, London NW2 |
75,000 | ||||||
| JW3, London NW3 | 75,000 | ||||||
| Langdon Foundation, Elstree, Middlesex |
75,000 | ||||||
| Bayis Sheli, London hl16 | 50,000 | ||||||
| Bikur Choiim, London N16 | 50,000 | ||||||
| Manchester Jewish Community |
Cars | 50,000 | |||||
| Total Health and Disability (13grants) | 885,190 | ||||||
| Total grants awarded | 2,092,300 | ||||||
| (Total number ofgrants; 22) |