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|---|---|---|---|
|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|
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|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|
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||||||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|
##
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||||||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|
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|||||||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|
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|||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||
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||||||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|
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##
|||||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|
##
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|||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|
##
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##
|||||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|
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|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|
##
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##
|||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|
##
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##
||||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|
##
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##
|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|
##
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##
|||||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|
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|||||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|
##
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|||||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|
##
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||||||||||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|
##
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|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|
##
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##
|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|