LEO BAECK INSTITUTE LIMITED (By Guarantee)
Report and Financial Statements for the year ended 31 December 2021
Registered Charity no: 235163
Company no: 766699
LEO BAECK INSTITUTE LIMITED (By Guarantee)
| Contents | Page |
|---|---|
| Legal and administrative information | 1 |
| Report of the trustees | 2 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes forming part of the financial statements | 9 - 12 |
LEO BAECK INSTITUTE LIMITED (By Guarantee)
Legal and administrative information
Constitution
Leo Baeck Institute Limited is a company limited by guarantee and a registered charity governed by its memorandum and articles of association.
Charity number: 235163. Company number: 766699
Directors and trustees
The directors of the charitable company ("the charity") are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.
The trustees are elected annually by the members of the charitable company attending the Annual General Meeting and serve for a period of one year.
The trustees serving during the year and since the year end were as follows:
Prof. D Rechter - Chairman Dr. S. Adler Prof. C Gelbin D Goldsmith Rabbi Baroness J Neuberger DBE Prof. Dr S Schuler-Springorum
Honorary President
Prof. P Pulzer
Institute Director & Company Secretary
Dr D Wildmann
Operational address and Registered office
2nd Floor, Arts Two Building, Queen Mary, University of London, Mile End Road, London, E1 4NS
Independent Examiner
S W Bunce - Chartered Accountant Ridley Marreco & Co, Pool House, Pool Street, Woodford Halse, Northants, NN11 3TS
Bankers
Coutts & Co., 440 Strand, London, WC2R 0QS
page 1
LEO BAECK INSTITUTE LIMITED (By Guarantee)
Report of the trustees for the year ended 31 December 2021
The trustees who are also directors of the charity for the purposes of the Companies Act, present their report together with the independently examined accounts 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" (FRSSE)in preparing the annual report and financial statements of the charity.
Structure, governance and management.
The charity is constituted as a company limited by guarantee, and is therefore governed by a memorandum and articles of association.
A board of trustees of up to seven members, who meet quarterly, governs the charity. A Chief Executive and a Treasurer are appointed by the trustees to manage the day-to-day operations of the charity. All directors of the company are also trustees of the charity, and there are no other trustees. All of the trustees named on page 1 served throughout the year except as noted.
Risk management
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks. In line with other charities investment performance since the start of the COVID-19 outbreak has been disappointing. Any reduction in short-term investment valuation fluctuations will have no impact on the operations of the ongoing activities of the charity during 2022.
Objectives and activities
The objects of the charity are to advance the education of the public in all aspects of the history of German speaking Jews and to undertake and promote research into this subject.
The principal activities continued to relate to the publication of the Leo Baeck Institute Year Book, and the organisation of conferences, seminars and lectures as well as the publication of web-based academic content. The Leo Baeck Institute Year Book is an academic publication consisting of original research articles.
Public benefit
In setting objectives and planning activities the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit. The strategies employed to achieve the charities aims and objectives are to:
Promote and organise a series of lectures, seminars and workshops as well as the publication of web-based academic content throughout the year furthering the understanding of the history of German speaking Jews throughout the world; Make these activities open to members of the public and other interested parties;
Actively participate with universities and other research organisations, and, in collaboration with Queen Mary University of London, provide enhanced education opportunities in the study of German Jewish and European history. Publish the Leo Baeck Institute Year Book.
Achievements and performance
The following work was undertaken by the members of the LBI in support of the institute’s academic aims and mission:
Leo Baeck Institute Year Book 2021
The LBI London has successfully published yet another volume of its Year Book (Oxford University Press) in this highly acclaimed series which began in 1956. The journal continues to present original research in the field of German-Jewish history and culture. It remains the most distinguished publication in its field, enjoying ever increasing approval and subscription rates.
Schriftenreihe des Leo Baeck Institutes
In this book series (in cooperation with the German publisher Mohr & Siebeck) we published the volume by Ismar Schorsch , 'Better a Scholar than a Prophet': Studies on the Creation of Jewish Studies, in 2021, and are working on a volume about theatre director Kurt Hirschfeld,which we hope to publish in 2022.
German-Jewish Culture Book Series
This series (published in collaboration with Indiana University Press) saw the publication in 2021 of the volume Yiddish Writers in Weimar Berlin: A fugitive Modernism by Marc Caplan.
The LBI London Lecture Series 2020/21
In collaboration with the German Historical Institute London, the LBI London offered its usual series of very well-attended public lectures. The 2021 series revolved around 'Conceptions of Heimat in Jewish Visual History and Culture'', presenting a wide range of talks covering 'German-Jewish Alpinism', 'Heimat as a Shelter from Nazism', and 'German-Jewish Emigre Artists in Britain'. Lectures in this cycle were delivered by scholars from Germany, Austria, Israel, the USA and the UK and were aimed at academics and students from various scholarly backgrounds and interested members of the public in an effort to reach out, inform, educate and stimulate discussion. All lectures of the series were well attended and held online in Zoom format due to Covid restrictions.
page 2
LEO BAECK INSTITUTE LIMITED (By Guarantee)
Report of the trustees for the year ended 31 December 2021 (continued)
Achievements and performance (continued)
The LBI Fellowship Programme
Two LBI Fellowship workshops for international doctoral candidates in our field of research were held, as usual, in collaboration with the Studienstiftung des deutschen Volkes. The programme, which is run together with Studienstiftung and is financed by the German Government, offers an opportunity for young scholars to present their work, exchange knowledge and strengthen and promote a network of the next generation of researchers and academics. Initially planned to take place in locations in Germany and the UK, both seminars were moved online due to Covid regulations and were held as Zoom events in June and November 2021. These online exchanges provided the Fellows with a much-needed opportunity to showcase and discuss their projects and proved to be very fruitful despite the unusual circumstances.
International Conference.
The International Conference 'Jewish Archives and Cultural Memory', organised in collaboration with the Lichtenberg-Kolleg, Georg August Universitat Gottingen, took place as a virtual event in 2021 due to Covid restrictions. It was very well attended by leading scholars and proved to be a significant success.
Social Media Projects
Since the first national lockdown in March 2020, the LBI has been forced largely to operate remotely. To continue the dialogue and relationship with our members and audiences as well as ensure that public outreach efforts continue uninterrupted, we have designed and successfully run two new web-based projects since Spring 2020.
The 'LBI Film Club', an online project offering our friends and members free access to selected thought-provoking fiction films linked to the German-Jewish and Israeli experience, and 'Snapshots of German-Jewish History and Culture', a new series of regular online posts aiming to provide an insight into items from our collection of rare books and historical pamphlets that illustrate key themes of the history and culture of Europe's German speaking Jewry.
Both these enthusiastically received web-based projects enabled us to expand the public reach of our Institute significantly and will remain part of our future programming.
Due to the continuing Covid pandemic we saw ourselves forced to navigate programme changes on several levels. This meant not only maintaining the online format for events for the entire duration of the year, but also necessitated a refocusing on new web-based projects in order to maintain our connection with existing audiences and establish links with new ones. While these changes led to a significantly busier schedule, they also reached much larger audiences. Despite the expansion of the LBI's programme, operating costs in 2021 remained lower due to the virtual nature of many parts of the academic programme. This will, of course, change as soon as normality resumes and physical events will revert to their pre-pandemic format.
Financial review
Total incoming resources for the year amounted to £ 168,288, which represents a decrease of £5,098 over the previous year. Resources expended increased from £157,437 to £166,007. The continued application of strict controls over spending limits and budgeted expenditure has enabled outgoing resources to be kept within reasonable bounds for the level of activity over the year. In addition, there have been savings due to the necessity of moving live events to an online platform for the year, as mentioned above. The net result for the year was an excess of income on general fund amounting to £2,281. The amount available as free reserves of the charity was increased in total to £281,995 after reflecting investment profits. These profits were the result of the continued recovery in market value of investments held at the year end.
Investment policy and performance
Under the memorandum and articles of association, the charity has the power to make any investment which the trustees see fit. The investment strategy has been reviewed and the bulk of cash reserves are invested on deposit with Coutts Bank, also Bond Funds and Equity Funds, are both held through Sarasin & Partners.
Reserves policy
The major source of funding received by the charity is from the Leo Baeck Institute Central Fund, a foundation based in Germany, which is funded as part of Jewish Restitution payments from the German Central Government. It is not anticipated that this source of funding will cease in the near future.
With regard to this the trustees operate a policy to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to at least six months expenditure in the unrestricted fund bearing in mind movements in unrealised investments . This will allow the charity to sustain its operation in the event of funding from the Leo Baeck Institute Central Fund being curtailed temporarily. The present level of funding is adequate to support the continuation of operations for the medium term, and the trustees consider the financial position of the charity to be satisfactory.
Page 3
LEO BAECK INSTITUTE LIMITED (By Guarantee)
Report of the trustees for the year ended 31 December 2021 (continued)
Impact of the restrictions due the COVID-19 virus on the charity.
Throughout 2021 restrictions on the movement of the population and rules for working practices brought in by the Government prevailed, albeit with varying severity.
All LBI staff continued working for the charity mostly from home. All staff continue to be employed by the charity and none have been furloughed. The trustees have continued to meet using telephone or video conferencing.
The charity's income is not considered to be impacted, as a large proportion is derived from LBI Central Fund. However the charity's promotion of in-person workshops and lectures has been curtailed with the resultant decrease in both the income and expenses that relate to those projects.
Further Developments at the LBI
The temporary loan of the LBI's Arnold Paucker Library (since April 2017) to the 'Closed Access' Section of Queen Mary University's Mile End Main Library, where our books are accessible to students in the reading room and are included in the Library database, was extended by yet another year in 2021.
We continue to be active in our fundraising efforts, approaching both public foundations and potential private donors and equally continue to work on the administration of the Arnold Paucker Library and other archive material (e.g. Paul Herzberg legacy).
Plans for future periods
For 2022 the LBI London shall continue with its tradition of offering the LBI lecture Series to the public free of charge. Its latest series 'Popular Culture, Politics and Jews' will delve into the rich world of German-Jewish and European-Jewish popular culture by examining its appeal, origins, creative adaptions, and political motivations. The series is once more organised in cooperation with the German Historical Institute. Early lectures in this cycle may still need to be offered virtually as online events, while lectures planned for the second quarter of 2022 may already be able to take place at the German Historical Institute. We are currently also planning an LBI Lecture Series 2023 under the title ‘The Good the Bad and the Ugly - European Fantasies about Jews' . The series is again organised in cooperation with the German Historical Institute.
Another future event for 2022 is the International Conference 'A New Look at German-Jewish History through Photography'. This conference is organised in collaboration with the German Historical Institute London and the Richard Koebner Minerva Centre for German |History and will take place in London.
The LBI plans to launch two new projects in 2022. First, the LBI London Pamphlet collection will be digitized, and the digital copies will be embedded into the LBI New York's online archive DigiBaeck in 2023. The project aims at conserving fragile items and at enhancing access to this unique collection of historical sources. Secondly, the LBI London is participating in an innovative online project that celebrates the history of the Hochschule des Judentums in an online exhibition. The project focuses on the former library of the Hochschule des Judentums and will trace the paths of the books that are now scattered all over the world. This exhibition will be organised by the LBI Jerusalem in collaboration with the LBI London.
Initially conceived as online alternatives to events cancelled in the wake of the coronavirus pandemic and lockdown, the LBI will continue to offer its two new web-based projects, 'The LBI Film Club' and the ‘Snapshots of German-Jewish History and Culture' during 2022. These projects provide exceedingly popular and much praised content to our members and friends, and are also available via our various social media channels (Facebook, Twitter and Instagram).
We have again selected a new generation of young scholars for the LBI Fellowship Programme 2022/23.
Our publishing programme will continue with further volumes of the ‘LBI Year Book’ , ‘Schriftenreihe Wissenschaftlicher Abhandlungen des Leo Baeck Instituts’ and our ‘German-Jewish Cultures’ book series.
page 4
LEO BAECK INSTITUTE LIMITED (By Guarantee)
Report of the trustees for the year ended 31 December 2021 (continued)
Trustees' responsibilities in relation to the financial statements
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
The trustees are required to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources of the charity for that period.
In preparing those financial statements the trustees are required to:
• select suitable accounting policies and then apply them consistently;
• make judgements and estimates that are reasonable and prudent;
• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for maintaining adequate accounting records, which disclose with reasonable accuracy at any time, the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the board of directors / trustees on 2022 and signed on its behalf by:
Prof D Rechter
Chairman
page 5
LEO BAECK INSTITUTE LIMITED (By Guarantee)
Charity number: 235163. Company number: 766699
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LEO BAECK INSTITUTE LIMITED
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2021, which are set out on pages 9 to 12.
Responsibilities and basis of report
As the charity's trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act").
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
-
the accounts do not accord with such records; or
-
the accounts do not comply with the relevant accounting requirements under section 396 of the Companies Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the Charities SORP (FRS102)
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 accounts to be reached.
S W Bunce
Ridley Marreco & Co
Chartered Accountant Pool House, Pool Street Woodford Halse, Northants. NN11 3TS
Date ……………………………
page 6
LEO BAECK INSTITUTE LIMITED (By Guarantee)
Statement of Financial Activities
for the year ended 31 December 2021
SUMMARY INCOME AND EXPENDITURE ACCOUNT
| Note INCOME FROM: Donations and legacies 2 Charitable activities 3 Investments 5 Other 4 Total incoming resources EXPENDITURE ON: Charitable activities 6 Total resources expended Net income / (expenditure) Other recognised gains and losses Unrealised profit / (loss) on investment assets NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Funds £ 129,729 38,554 5 - |
Designated Funds £ - - - - 2021 |
Total Funds £ 129,729 38,554 5 - 168,288 166,007 166,007 2,281 59,919 62,200 703,481 765,681 |
Unrestricted Designated Total Funds Funds Funds £ £ £ 138,752 - 138,752 34,621 - 34,621 13 - 13 - - - 2020 |
|---|---|---|---|---|
| 168,288 | - | 173,386 - 173,386 |
||
| 166,007 | - | 157,437 - 157,437 |
||
| 166,007 | - | 157,437 - 157,437 |
||
| 2,281 59,919 |
- | 15,949 - 15,949 51,043 - 51,043 |
||
| 62,200 219,795 |
- 483,686 |
66,992 - 66,992 152,803 483,686 636,489 |
||
| 281,995 | 483,686 | 219,795 483,686 703,481 |
The notes on pages 9 to 12 form part of these accounts
All income and expenditure derive from continuing activities.
The Statement of financial activities includes all gains and losses recognised during the year
Page 7
LEO BAECK INSTITUTE LIMITED ( By Guarantee)
(A registered Charity No: 235163)
Balance Sheet as at 31 December 2021
| Note FIXED ASSETS - Tangible Assets Office Furniture & Equipment at cost less Depreciation 9 INVESTMENTS 10 CURRENT ASSETS Cash at bank and in hand Accrued income Other debtors CURRENT LIABILITIES Amounts falling due within one year: Accruals Creditors NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES UNRESTRICTED FUNDS: General Fund Designated Funds |
2021 | - 645,518 120,163 765,681 765,681 |
2020 | 2020 | |
|---|---|---|---|---|---|
| 12,463 4,875 |
120,171 17,330 - 137,501 17,338 £ 281,995 483,686 £ |
121,014 16,220 - |
- 585,599 117,882 |
||
| 137,234 | |||||
| 11,703 7,649 |
|||||
| 19,352 | |||||
| £ £ |
|||||
| 703,481 | |||||
| 219,795 483,686 |
|||||
| 703,481 |
For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The accounts were approved by the Board on 2022 and signed on its behalf by:
Prof D Rechter
Chairman
Page 8
LEO BAECK INSTITUTE LIMITED ( By Guarantee )
Notes forming part of the financial statements for the year ended 31 December 2021
1 Summary of significant accounting policies
1. 1 (a) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), the Charities Act 2011 and the Companies Act 2006, so far as it is applicable to the company
The financial statements are prepared on a going concern basis under the historical cost convention, with the exception of investments which are included at market value as modified to include the revaluation of certain fixed assets. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £1. Transactions in foreign currencies are translated at the rate prevailing at the time of the transaction. Any balances held in foreign currencies are translated at the prevailing rate at the Balance Sheet date and any gain or loss arising from a change in rates from the previous year is reported in the Statement of Financial Activities.
In these financial statements, the charity has applied the exemptions available under SORP (FRSSE) in respect of the following disclosure:
- Cash Flow Statement and related notes
(b) Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds are funds allocated by the Trustees for specific future purposes
1 2 Incoming resources
All incoming resources and donations are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
1. 3 Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
- Expenditure on charitable activities includes production of the Year Book, costs of staging lectures and workshops, bursaries and a proportion of salaries directly related to those activities.
Irrecoverable VAT is charged as an expense against the activity for which the expenditure arose.
Support costs
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with the use of resources.
Fund raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
Page 9
LEO BAECK INSTITUTE LIMITED ( By Guarantee )
Notes forming part of the financial statements for the year ended 31 December 2021 (continued)
1. 4 Tangible fixed assets
All expenditure incurred during the year on equipment and moveable furnishings, whether maintenance or improvement, is written off as expenditure in the year in which it is incurred.
1. 5 Investments Fixed asset investments are stated at market value with changes recognised in ' net gains / (losses) on investments' in the SOFA.
1. 6 Going concern
| The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for the 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern Total Total 2021 2020 2. Income from donations and legacies Gifts and donations 129,729 138,752 3. Income from charitable activities Income directly attributable to Year Books 38,554 34,621 4. Other incoming resources Other - - - - 5. Income from investments Bank interest receivable 5 13 5 13 6. Analysis of expenditure on charitable activities Year book costs 13,200 13,525 Projects & seminars 12,860 12,235 Bursaries & prizes 500 500 Fundraising - 972 Support costs Staff costs 104,827 101,754 Office rental & services 22,740 22,570 Bank charges 1,347 1,218 Exchange differences 2,621 (3,077) Accountancy 5,400 5,300 136,935 - Governance costs Expenses of meetings - - Independent examination fee 2,512 2,512 2,440 166,007 157,437 |
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for the 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern Total Total 2021 2020 2. Income from donations and legacies Gifts and donations 129,729 138,752 3. Income from charitable activities Income directly attributable to Year Books 38,554 34,621 4. Other incoming resources Other - - - - 5. Income from investments Bank interest receivable 5 13 5 13 6. Analysis of expenditure on charitable activities Year book costs 13,200 13,525 Projects & seminars 12,860 12,235 Bursaries & prizes 500 500 Fundraising - 972 Support costs Staff costs 104,827 101,754 Office rental & services 22,740 22,570 Bank charges 1,347 1,218 Exchange differences 2,621 (3,077) Accountancy 5,400 5,300 136,935 - Governance costs Expenses of meetings - - Independent examination fee 2,512 2,512 2,440 166,007 157,437 |
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for the 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern Total Total 2021 2020 2. Income from donations and legacies Gifts and donations 129,729 138,752 3. Income from charitable activities Income directly attributable to Year Books 38,554 34,621 4. Other incoming resources Other - - - - 5. Income from investments Bank interest receivable 5 13 5 13 6. Analysis of expenditure on charitable activities Year book costs 13,200 13,525 Projects & seminars 12,860 12,235 Bursaries & prizes 500 500 Fundraising - 972 Support costs Staff costs 104,827 101,754 Office rental & services 22,740 22,570 Bank charges 1,347 1,218 Exchange differences 2,621 (3,077) Accountancy 5,400 5,300 136,935 - Governance costs Expenses of meetings - - Independent examination fee 2,512 2,512 2,440 166,007 157,437 |
|---|---|---|
| 38,554 34,621 |
||
| - - |
||
| - - |
||
| 5 13 |
||
| 5 13 |
||
| 13,200 13,525 12,860 12,235 500 500 - 972 101,754 22,570 1,218 (3,077) 5,300 136,935 - - 2,512 2,440 |
||
| - 2,512 |
||
| 166,007 157,437 |
Page 10
LEO BAECK INSTITUTE LIMITED ( By Guarantee )
Notes forming part of the financial statements for the year ended 31 December 2021 (continued)
7. Trustees
None of the trustees (or any person connected with them received any remuneration during the year.
8.
9
10
| Employees Number of employees The average monthly number of employees during the year was: Employment costs Wages & salaries Social security Staff pension premiums There were no employees whose annual remuneration was £60,000 or more Fixed assets Fixtures & equipment Cost at 1 January & 31 December 2021 Depreciation at 1 January 2021 Provided in year Depreciation at 31 December 2021 Written down value at 1 January 2021 Written down value at 31 December 2021 Fixed asset investments Market value at 1 January 2021 Additions at cost Proceeds of disposal Profit on disposal Change in value in the year Market value at 31 December 2021 Historical cost 31.12.2020 Historical cost 1.1.2020 |
2020 2019 4 4 |
|---|---|
| 92,733 89,606 3,923 3,538 8,171 8,610 |
|
| 104,827 101,754 |
|
| 18,369 18,369 - 18,369 - - Listed Investments 585,599 - 585,599 - 585,599 - 585,599 59,919 645,518 483,767 483,767 |
The investments are held in a portfolio managed by Sarasin & Partners. The bulk of investments are quoted on a recognised stock exchange with the remaining portion invested in alternative investments and Hedge Funds.
Page 11
LEO BAECK INSTITUTE LIMITED ( By Guarantee )
Notes forming part of the financial statements for the year ended 31 December 2021 (continued)
11 Designated funds
The income funds of the charity include Designated funds comprising the following balances held for specific purposes
| Movements | in funds | ||||
|---|---|---|---|---|---|
| Balance | Incoming | Resources | Transfers | Balance | |
| at 1.1.21 | resources | Expended | at 31.12.21 | ||
| Endowment fund | 483,686 | - | - | 483,686 |
Endowment fund This fund was allocated by the Trustees to finance the academic activities of the Institute
Page 12