| CONTENTS | PAGES | ||
| Reference and Administrative | Information | 3-4 | |
| Trustees Report | 5-12 | ||
| Independent Auditors |
Report | 13 - 16 | |
| Statement ofFinancial | Activities | 17 | |
| Statement ofFinancial | Position | 18 - 19 | |
| Statement ofCash Flows | 20 | ||
| Notes to the Accounts | 21-40 |
| he free rese | rves ar |
e cal | culate | d as follows: |
||
|---|---|---|---|---|---|---|
| fmillion | 2021 | 2020 | ||||
| Unrestricted | reserves | 15.4 | 12.1 | |||
| Less: unrestricted | designated | funds | ~4.6 | ~5.0 | ||
| Reserves in | the general | fund | 10.8 | 7.1 | ||
| Less: Fixed | Assets | ~4.6 | ||||
| Free Reserves | 6.2 | 2,5 |
| Unrestricted | Total | Total | |||||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | |||||
| 2021 | 2021 | 2020 | |||||
| Note | |||||||
| Income from: | |||||||
| Charitable activities |
3 | 2,866,504 | 2,866,504 | 1,015,592 | |||
| Investments | 4 | 387,180 | 387,180 | 336,197 | |||
| Other income | 717 | ||||||
| Total income | 3,253,684 | 3,253,684 | 1,352,506 | ||||
| Expenditure on: |
|||||||
| Raising funds | 63,497 | 63,497 | 54,372 | ||||
| Charitable activities |
2,230,160 | 2,230,160 | 2,532,996 | ||||
| Total expenditure | 2,293,657 | 2,293,657 | 2,587,368 | ||||
| Net income/(expenditure) | before net gains on | ||||||
| investments | 960,027 | 960,027 | (1,234,862) | ||||
| Realised gains on investments | 458,535 | 458,535 | 185,198 | ||||
| Net movement before other recognised |
gains and | ||||||
| losses | 1,418,562 | 1,418,562 | (1,049,664) | ||||
| Other recognised | gains: | ||||||
| Unrealised gains on investments |
1,893,191 | 1,893,191 | 362,913 | ||||
| Net movement in funds |
3,311,753 | 3,311,753 | (686,751) | ||||
| Reconciliation offunds: |
|||||||
| Total funds brought |
forward | 12,138,541 | 12,138,541 | 12,825,292 | |||
| Net movement in funds |
3,311,753 | 3,311,753 | (686,751) | ||||
| Total funds carried | forward | 15,450,294 | 15,450,294 | 12,138,541 |
| STATEMENT OF FINANCIAL | STATEMENT OF FINANCIAL | POSITION | |||||
|---|---|---|---|---|---|---|---|
| AS AT 31 DECEMBER 2021 | |||||||
| 2021 | 2020 | ||||||
| Note | E | ||||||
| Fixed assets | |||||||
| Tangible assets | 13 | 4,553,599 | 4,639,792 | ||||
| Investments | 14 | 22,538,155 | 19,382,246 | ||||
| Social investments | 15 | 141,392 | 158,838 | ||||
| 27,233,146 | 24,180,876 | ||||||
| Current assets | |||||||
| Debtors | 16 | 119,635 | 356,647 | ||||
| Investments | 17 | 1,050,317 | 642,989 | ||||
| Cash at bank and | in hand | 48,393 | 223,859 | ||||
| 1,218,345 | 1,223,495 | ||||||
| Creditors: amounts | falling due within | one | |||||
| year | 18 | (313,197) | (337,360) | ||||
| Net current assets | 905,148 | 886,135 | |||||
| Total assets less | current liabilities | 28,138,294 | 25,067,011 | ||||
| Creditors: amounts | falling due after | more | |||||
| than one year | 19 | (12,688,000) | (12,928,470) | ||||
| Total net assets | 15,450,294 | 12,138,541 | |||||
| Charity funds | |||||||
| 21 | |||||||
| Unrestricted funds |
|||||||
| Designated funds |
21 | 4,647,853 | 5,045,938 | ||||
| General funds | 21 | 10,802,441 | 7,092,603 | ||||
| Total unrestricted | funds | 21 | 15,450,294 | 12,138,541 | |||
| Total funds | 15,450,294 | 12,138,541 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Cash flows from operating | activities | |||||
| Net cash | used in operating |
activities | 807,694 | 234,757 | ||
| Cash flows from investing | activities | |||||
| Dividends, | interests and rents from investments |
387,180 | 336,197 | |||
| Investment | charges | (63,497) | (54,372) | |||
| Purchase | oftangible fixed assets |
(97,153) | (1,283,103) | |||
| Proceeds | from sale of investments | 2,236,277 | 3,555,247 | |||
| Purchase | of investments | (3,037,375) | (3,894,046) | |||
| Net cash | used in investing | activities | (574,568) | (1,340,077) | ||
| Change in cash and cash |
equivalents | in | the year | 233,126 | (1,105,320) | |
| Cash and | cash equivalents | at the beginning | ofthe year | 856,629 | 1,961,949 | |
| Cash and | cash equivalents | at the end | of | the year | 1,089,755 | 856,629 |
| Unrestricted | Total | Total | ||||||
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | ||||||
| 2021 | 2021 | 2020 | ||||||
| E | ||||||||
| London member | funeral | income | 579,038 | 579,038 | 550,175 | |||
| London member | maintenance | income | 215,041 | 215,041 | 203,707 | |||
| National member |
funeral | income | 151,477 | 151,477 | 151,716 | |||
| Member late entry receipts | 175,158 | 175,158 | 49,176 | |||||
| Woodland surcharge |
on | funerals | 534,901 | 534,901 | 255,449 | |||
| Non-member cremations |
96,950 | 96,950 | 121,704 | |||||
| Stonesetting fees |
101,358 | 101,358 | 82,151 | |||||
| Non-member burials |
175,110 | 175,110 | 154,156 | |||||
| Funeral extras | 13,238 | 13,238 | 17,275 | |||||
| Other income | 127,738 | 127,738 | 23,243 | |||||
| 2,170,009 | 2,170,009 | 1,608,752 | ||||||
| Less: movements | within | deferred | creditor: | |||||
| Future funerals | (175,158) | (175,158) | (49,176) | |||||
| Late entry | 871,653 | 871,653 | (543,984) | |||||
| Total 2021 | 2,866,504 | 2,866,504 | 1,015,592 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2021 | 2021 | 2020 | ||
| E | E | E | ||
| Dividend | and interest income | 386,731 | 386,731 | 331,601 |
| Bank interest | 449 | 449 | 4,226 | |
| Loan interest | 370 | |||
| 387,180 | 387,180 | 336,197 | ||
| Total 2020 | 336,197 | 336,197 |
| Unrestricted | Total | Total | |||||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | |||||
| 2021 | 2021 | 2020 | |||||
| P | E | ||||||
| Investment | management | fees | 63,497 | 63,497 | 54,372 | ||
| Total 2020 | 54,372 | 54,372 | |||||
| Resources | expended | -charitable | activities | ||||
| 2021 | 2020 | ||||||
| Grants payable | (note 7) | 39,700 | 37,263 | ||||
| Direct costs | (note 8) | 1,894,840 | 2,232,942 | ||||
| Support costs | (note 8) | 295,620 | 262,791 | ||||
| 2,230,160 | 2,532,996 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| F | |||||
| Bradford Cemetery | 1,023 | ||||
| Bradford Synagogue | 2,240 | ||||
| Bereavement Care |
2,900 | ||||
| Clore Tikvah School | 2,000 | ||||
| Foundation for Jewish |
Heritage | 2,000 | 2,000 | ||
| Finchley Reform | 1,500 | ||||
| Gesher EU Support | Network | 3,000 | |||
| Generation to Generation |
2,500 | ||||
| Harrow Bereavement | 2,000 | ||||
| leshereu Support Network |
3,000 | ||||
| Jewish Association | for Mental | illness | 1,500 | ||
| Jewish Bereavement | Counselling | 4,400 | 2,750 | ||
| Jewish Care | 3,000 | ||||
| Leo Baeck College | 8,000 | 7,000 | |||
| Learning from the Righteous |
2,500 | ||||
| Moishe House | 2,000 | ||||
| Movement for Reform |
Judaism | 1,000 | |||
| Paperweight Trust |
2,500 | 2,500 | |||
| Raphael Centre | 2,900 | 2,000 | |||
| RJ Bereavement | 2,250 | ||||
| RSY Netzer | 3,000 | ||||
| The Together Plan | 2,000 | ||||
| Tzedek | 2,000 | ||||
| UJIA | 1,500 | ||||
| 39,700 | 37,263 |
| Activities | Grant | |||||
|---|---|---|---|---|---|---|
| undertaken | funding of |
Support | Total | Total | ||
| directly | activities | costs | funds | funds | ||
| 2021 | 2021 | 2021 | 2021 | 2020 | ||
| P | F | |||||
| Charitable | activities | 1,894,840 | 39,700 | 295,620 | 2,230,160 | 2,532,996 |
| Total 2020 | 2,232,942 | 37,263 | 262,791 | 2,532,996 |
| Total | Total | |||||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| 2021 | 2020 | |||||
| F | E | |||||
| Maintenance | ofgrounds | 219,433 | 205,714 | |||
| Burials | 373,183 | 348,035 | ||||
| Cremations | 202,359 | 229,868 | ||||
| FESclaims | 222,497 | 151,555 | ||||
| Tahe ra | 31,185 | 26,730 | ||||
| Bank charges | 1,082 | 1,409 | ||||
| Woodland | gardening | and maintenance | 146,210 | 133,350 | ||
| Columbarium | 200 | 517 | ||||
| Depreciation | of grounds | and improvements | 151,206 | 108,632 | ||
| Other | 16,427 | |||||
| 1,363,782 | 1,205,810 | |||||
| Expenditure | movement | on deferred creditor | 531,058 | 1,027,132 | ||
| 1,894,840 | 2,232,942 |
| Total | Total | ||||
|---|---|---|---|---|---|
| funds | funds | ||||
| 2021 | 2020 | ||||
| F | F | ||||
| Salaries | 160,844 | 147,940 | |||
| Rent | 10,586 | ||||
| Telephone | 5,726 | 4,661 | |||
| Printing, postage |
& stationery | 4,011 | 2,327 | ||
| Bank charges | 135 | 106 | |||
| Travel expenses | 102 | 17,098 | |||
| Insurance | 4,275 | 923 | |||
| Sundry expenses | 5,370 | 1,489 | |||
| Accountancy | and | HR consultancy | 9,552 | 13,628 | |
| Legal fees | 700 | 3,467 | |||
| Depreciation | 28,709 | 25,472 | |||
| Information | technology | 29,615 | 21,325 | ||
| Electricity | 6,810 | ||||
| Office cleaning | 171 | 558 | |||
| Governance | costs | 39,600 | 13,211 | ||
| 295,620 | 262,791 | ||||
| Governance | costs | ||||
| 2021 | 2020 | ||||
| Audit fees | 15,300 | 13,164 | |||
| Actuarial fees | for 2020 and 2021 | 24,300 | |||
| Costs relating | to funerals | 47 | |||
| 39,600 | 13,211 |
| Number offun | erals | |||||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| Members | Non-Members | Total | Members | Non-Members | Total | |
| Burial | 145 | 24 | 169 | 146 | 26 | 172 |
| Woodland | 41 | 19 | 60 | 37 | 29 | 66 |
| Cremations | 77 | 29 | 106 | 81 | 39 | 120 |
| Non-Chesh't | 30 | 1 | 31 | 24 | 0 | 24 |
| FESClaims | 87 | 0 | 87 | 110 | 0 | 110 |
| 380 | 73 | 453 | 398 | 94 | 492 |
| Staff costs | ||
|---|---|---|
| 2021 | 2020 | |
| E | ||
| Wages and Salaries | 251,044 | 254,006 |
| Social Security costs | 18,971 | 20,387 |
| Other pension costs | 36,525 | 27,653 |
| 306,540 | 302,046 |
| Western & |
Prayer Hall 8 |
Computers | ||||
|---|---|---|---|---|---|---|
| Woodland | other | Woodland | &office | Prayer | ||
| Cemetery | cemeteries | Office | equipment | books | Total | |
| E | ||||||
| Cost or valuation | ||||||
| At 1 January 2021 | 1,780,627 | 546,497 | 3,014,055 | 23,353 | 14,673 | 5,379,205 |
| Additions | 77,078 | 17,926 | 2,149 | 97,153 | ||
| Disposals | (3,431) | (3,431) | ||||
| At 31 December 2021 | 1,857,705 | 546,497 | 3,010,624 | 41,279 | 16,822 | 5,472,927 |
| Depreciation | ||||||
| At 1 January 2021 | 446,916 | 146,724 | 120,745 | 10,355 | 14,673 | 739,413 |
| Charge for the year | 90,194 | 18,966 | 62,337 | 7,577 | 841 | 179,915 |
| At 31 December 2021 | 537,110 | 165,690 | 183,082 | 17,932 | 15,514 | 919,328 |
| Net book value | ||||||
| At 31 December 2021 | 1,320,595 | 380,807 | 2,827,542 | 23,347 | 1,308 | 4,553,599 |
| At 31 December 2020 | 1,333,711 | 399,773 | 2,893,310 | 12,998 | 4,639,792 |
| Listed | |||||
|---|---|---|---|---|---|
| investments | Cash | Total | |||
| E | |||||
| Cost or valuation | |||||
| At 1 January 2021 | 18,694,782 | 687,464 | 19,382,246 | ||
| Additions | 3,037,375 | (3,037,375) | |||
| Disposals | (1,775,094) | 1,775,094 | |||
| Unrealised gains |
1,893,191 | 1,893,191 | |||
| Realised gains | 458,535 | 458,535 | |||
| Investment income reinvested |
(1,762) | 388,493 | 386,731 | ||
| Cash invested | 500,005 | 500,005 | |||
| Investment charges |
(82,553) | (82,553) | |||
| At 31 December | 2021 | 22,307,027 | 231,128 | 22,538,155 | |
| Net book value | |||||
| At 31 December | 2021 | 22,307,027 | 231,128 | 22,538,155 | |
| At 31 December | 2020 | 18,694,782 | 687,464 | 19,382,246 | |
| Listed investments | at market value comprised | ||||
| 2021 | 2020 | ||||
| UK equities and |
unit trusts | 8,722,266 | 7,634,726 | ||
| UK Fixed interest | securities | 789,987 | 810,592 | ||
| Charity property | funds | 809,078 | 733,047 | ||
| Foreign equities | and | unit trusts | 10,519,444 | 8,647,376 | |
| Alternative assets |
1,466,252 | 869,041 | |||
| 22,307,027 | 18,694,782 |
| Social investments | |||
|---|---|---|---|
| Programme | |||
| related | Mixed motive | ||
| investments | investments | Total | |
| F | P | ||
| Cost or valuation | |||
| At 1 January 2021 | 152,249 | 6,589 | 158,838 |
| Repayments | (10,857) | (6,589) | (17,446) |
| At 31 December 2021 | 141,392 | 141,392 | |
| At 31 December 2020 | 152,249 | 6,589 | 158,838 |
| 2021 | 2020 | ||
|---|---|---|---|
| Due within one year | |||
| Trade debtors | 112,030 | 341,047 | |
| Other debtors | 2,644 | ||
| Prepayments | and accrued income | 7,605 | 12,956 |
| 119,635 | 356,647 |
| 2021 F |
2020f | ||||
|---|---|---|---|---|---|
| Mixed motive | investments | -St Albans | Masorti Synagogue | 8,955 | 10,219 |
| CAF bank Limited Gold Account | 1,041,362 | 632,770 | |||
| 1,050,317 | 642,989 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Trade creditors | 166,379 | 148,973 | ||
| Other taxation | and social security | 5,689 | 11,931 | |
| Other creditors | 46,876 | |||
| Accruals and deferred | income | 94,253 | 176,456 | |
| 313,197 | 337,360 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| E | |||||
| Accruals | and | deferred | income | 12,688,000 | 12,928,470 |
| Balance at 1 | Income | in the | Expenditure | Balance at 31 | ||||
|---|---|---|---|---|---|---|---|---|
| January 2021 |
year | in the year | December 2021 | |||||
| Late entry payments | received | 2,349,112 | 234,981 | (110,180) | 2,473,913 | |||
| Funeral payments |
received | 10,579,358 | 566,205 | (931,476) | 10,214,087 | |||
| Deferred creditor | for | future | burials | |||||
| and cremations | 12,928,470 | 801,186 | (1,041,656) | 12,688,000 | ||||
| Total | 12,928,470 | 801,186 | (1,041,656) | 12,688,000 | ||||
| c) Actuarial derivation |
ofthe deferred creditor |
|||||||
| Actuarial reserve |
acquired | for | future | |||||
| funeral costs | 17,522,311 | (412,311) | 17,110,000 | |||||
| Admin and oflice |
designated | fund (4,878,025) |
456,025 | (4,422,000) | ||||
| Woodland buyout |
284,184 | (284,184) | ||||||
| Total | 12,928,470 | (412,311) | 171,841 | 12,688,000 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| E | |||||
| Financial | assets | ||||
| Financial | assets measured | at fair value through | income and expenditure | 1,238,881 | 1,197,676 |
| 2021 | 2020 | ||||
| E | |||||
| Financial | liabilities | ||||
| Financial | liabilities measured | at fair value through | income and expenditure | 166,379 | 148,973 |
| Balance at | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Balance at 1 | 31 | ||||||||
| January | Gains/ | December | |||||||
| 2021 | income | Expenditure | (Losses) | 2021 | |||||
| E | |||||||||
| Unrestricted | funds | ||||||||
| Designated | funds | ||||||||
| Grants | 117,913 | 97,640 | (39,700) | 175,853 | |||||
| Garden | area | 50,000 | 50,000 | ||||||
| Future office | & admin cost | 4,878,025 | (456,025) | 4,422,000 | |||||
| 5,045,938 | 97,640 | (495,725) | 4,647,853 | ||||||
| General | funds | ||||||||
| General | Funds | 7,092,603 | 3,156,044 | (1,797,932) | 2,351,726 | 10,802,441 | |||
| Total Unrestricted | funds | 12,138,541 | 3,253,684 | (2,293,657) | 2,351,726 | 15,450,294 | |||
| 22. | Analysis | of | net assets between | funds | |||||
| Analysis | of | net assets between | funds - current | year |
| Analysis Analysis |
of net assets between funds of net assets between funds - current year |
||
|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| 2021 | 2021 | ||
| E | E | ||
| Tangible | fixed assets | 4,553,599 | 4,553,599 |
| Fixed asset investments | 22,538,155 | 22,538,155 | |
| Social investments | 141,392 | 141,392 | |
| Current | assets | 1,218,345 | 1,218,345 |
| Creditors | due within one year | (313,197) | (313,197) |
| Creditors | due in more than one year | (12,688,000) | (12,688,000) |
| Total | 15,450,294 | 15,450,294 |
| 23. | Reconciliation of net movement |
in funds to | net | cash flow | from operating | activities | |||||||
| 2021 | 2020 | ||||||||||||
| E | |||||||||||||
| Net income/expenditure |
for | the | year | (as | per | Statement | of | Financial | |||||
| Activities) | 1,418,562 | (1,049,664) | |||||||||||
| Adjustments for: |
|||||||||||||
| Depreciation charges |
179,915 | 134,104 | |||||||||||
| Realised gains on investments | (458,535) | (185,198) | |||||||||||
| Dividends, interests |
and | rents from | investments | (387,180) | (336,197) | ||||||||
| Investment management |
charges | 82,553 | 54,372 | ||||||||||
| (Increase)/decrease | in debtors | 237,012 | (90,308) | ||||||||||
| Increase/(decrease) | in creditors | (24,163) | (127,137) | ||||||||||
| Increase in deferred |
income | (240,470) | 1,834,785 | ||||||||||
| Net cash provided | by operating | activities | 807,694 | 234,757 | |||||||||
| 24. | Analysis ofcash and cash equivalents | ||||||||||||
| 2021 | 2020 | ||||||||||||
| Cash in hand |
48,393 | 223,859 | |||||||||||
| Notice deposits (less | than | 3months) | . 1,041,362 | 632,770 | |||||||||
| Total cash and cash | equivalents | 1,089,755 | 856,629 | ||||||||||
| 25. | Analysis ofmovement in cash |
||||||||||||
| At 31 | |||||||||||||
| At 1 | January | December | |||||||||||
| 2021 | Cash flows | 2021 | |||||||||||
| E | |||||||||||||
| Cash at bank and in |
hand | 223,859 | (175,466) | 48,393 | |||||||||
| Liquid investments | 632,770 | 408,592 | 1,041,362 | ||||||||||
| 856,629 | 233,126 | 1,089,755 |
| non-cancel | labl | e operating leases as follows: |
||
|---|---|---|---|---|
| 2021 | 2020 | |||
| E | ||||
| Not later than | 1 year | 2,493 | 2,493 | |
| Later than | 1 year and not later than 5 years | 4,363 | 6,856 | |
| 6,856 | 9,349 |