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2020-12-31-accounts

JEWISH BLIND & PHYSICALLY HANDICAPPED SOCIETY CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Company No: 00959535 (England and Wales) Charity No: 2594801

Jewish Blind & Physically Handicapped Society SOCIETY INFORMATION

Patrons Chief Rabbi Ephraim Mirvis Haham Pinchas Toledano The Chairman of the Council of Reform and Liberal Rabbis President M J Ozin MBE Chairman J Joseph MBE Treasurer A Levy FCA Members of the Council M J Ozin MBE S Simmons FCA of Management L Joseph J Joseph MBE M Kurer (resigned 20 July 2020) A Kintish S Russell E Brill (resigned 20 July 2020) P Silverman A Levy FCA (appointed 20 July 2020) Secretary M J Ozin MBE Chief Executive L Wimborne Company No. 00959535 - Registered in England and Wales Charity No. 259480 Registered Office & Frances & Dick James Court, 35 Langstone Way, London NW7 1GT Head Office Bankers Lloyds Bank plc, 39 Threadneedle Street, London EC2R 8AU National Westminster Bank plc, 300 Euston Road, London NW1 3AX Solicitors Devonshires Solicitors LLP, 30 Finsbury Circus, London EC2M 7DT Auditor Moore Kingston Smith LLP, Chartered Accountants, Devonshire House, 60 Goswell Road, London EC1M 7AD

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Jewish Blind & Physically Handicapped Society CONTENTS

Report of the Council of Management 4
Independent Auditors’ Report 11
Consolidated Statement of Financial Activities 14
Consolidated and Charity Balance Sheets 15
Consolidated Statement of Cash Flows 16
Notes to the Accounts 17

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Jewish Blind & Physically Handicapped Society

REPORT FOR THE COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2020

The Charities Act 2011 requires all charities to meet the legal requirement that its aims are for the public benefit. The Charity Commission in its Charities and Public Benefit guidance states that there are two key principles to be met in order to show that an organisation’s aims are for the public benefit: firstly, there must be an identifiable benefit or benefits and secondly, that the benefit must be to the public or a section of the public. The Members of the Council (Trustees) consider that they have complied with Section 17 of the Charities Act 2011 including the guidance ‘Public Benefit: Running a Charity (PB2)’.

The Trustees carry out a detailed annual review of the charity’s activities highlighting the risks the charity is exposed to and the steps taken to mitigate these risks. As part of the process the Trustees have reviewed the risks associated with the financial procedures in order to ensure that they meet the needs of the charity.

The Trustees who are also directors of the charity for the purpose of the Companies Act, are pleased to present their report and accounts for the year ended 31 December 2020 which have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (Charities SORP (FRS102)).

The charity is constituted as a company limited by guarantee and is therefore governed by its memorandum and articles of association.

Company No. 00959535 - Registered in England and Wales

Charity No. 259480

Registered Office - 35 Langstone Way, London NW7 1GT Working Name - Jewish Blind & Disabled (JBD)

Trustees and Organisational Structure

The Trustees, (also known as members of the Council), work alongside the professional team, led by its Chief Executive, to guide, scrutinise and support them with the strategic direction of the organisation. The Trustees meet regularly to oversee the work of the professional team. The Trustees use their varied skills and experience to ensure the organisation achieves its aims and objectives. Jewish Blind & Disabled Trustees give their time freely and no members received any remuneration in the year.

Following the governance review in 2017 Trustees now serve for a renewable fixed term of up to three years. Trustees will no longer serve for more than nine years consecutively unless where the Trustees agree the circumstances are such that it would be in the best interest of the charity for the Trustee in question to serve for a longer period of time.

The Trustees are responsible in law for the running of Jewish Blind & Disabled. All the Trustees unless where stated served for the whole year.

Our Trustees: L Joseph * President M J Ozin MBE * A Kintish Chairman J Joseph MBE M Kurer resigned July 2020 S Simmons FCA Treasurer until July 2020 * S Russell * A Levy FCA appointed Trustee and Treasurer July 2020 P Silverman E Brill resigned June 2020 *reappointed in 2020 following ending of 3-year cycle

When vacancies arise, Trustees have in the past been recruited through the community networks; those who are committed to the aims and objectives of the organisation and who have skills, expertise and time to offer. Going forward, to support our desire to increase diversity and introduce new skill sets into the Council, alongside using our networks to recruit, we will advertise all future Trustee vacancies.

There is an induction process for all new Trustees. The Chief Executive inducts each Trustee, explaining the key processes and procedures that are involved in the various aspects of running the charity, as well as showing them first hand the accommodation and support we provide.

Some Trustees have responsibility for oversight of a specific area of the work of the charity including Finance, Health & Safety and Property Management.

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Jewish Blind & Physically Handicapped Society

REPORT FOR THE COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2020

Alongside regular Trustee meetings there are a number of key sub-committees as follows:

Chief Executive

The Chief Executive is responsible for the day-to-day operation of the charity, the delivery of the organisation’s strategy and management of the staff team.

Advisors

To help us in our work we work alongside a team of professional advisors:

Bankers: Lloyds Bank Registered Office: 25 Gresham Street, London EC2V 7HN Solicitors: Devonshires Solicitors LLP, 30 Finsbury Circus, London, C2M 7DT Auditors: Moore Kingston Smith LLP, Chartered Accountants, Devonshire House, 60 Goswell Road, London, EC1M 7AD Data Protection Officer: ClearComm, Part of Moore Kingston Smith

Mission and Vision

Jewish Blind & Disabled exists for Jewish people with physical disabilities and/or impaired vision aged 18 upwards to have access to housing and support so that they lead the best life they can, enabling independence, dignity and choice. This is provided through our specially adapted mobility apartments located in our unique supportive developments or within their own home in the wider community. We are committed to develop to ensure we can meet the needs and increased demand from across the community.

Objectives and Activities

We know that with the right facilities and support a disability does not have to mean a loss of vital independence and self worth.

The majority of our tenants are not born with the disability; instead, at some point in their lives they face a diagnosis that will have a significant impact on their life from that time forward. Suddenly, simple tasks such as making a cup of tea can become a momentous undertaking; whilst other everyday tasks, which had previously been done without thought, now depend on having to ask someone else to help.

The age of our current tenants ranges from those in their thirties to 100 years old and between them, they encompass a wide spectrum of disabilities. The one thing they all have in common is that, thanks to our unique facilities, they can live life as they choose and not as their disability may otherwise dictate.

We house 360 people across seven purpose-built developments in our 320 apartments in NE & NW London and Hertfordshire. Each of our buildings has its own supportive Jewish community with our house managers being central to the building. Along with providing a 24/7 on-call service 365 days a year, house managers keep a caring eye on our tenants, calling them, unless requested not to do so, every morning and evening to check that everything is ok.

As well as our House Management Team, our Tenancy Support Team are on hand to offer advice on suitable aids and adaptations that our tenants may need to suit their specific situation. They provide friendly and reassuring additional support to our tenants as well as providing emotional support, benefits advice and tenancy management. The team advocate on behalf of tenants, liaising with appropriate bodies and local authorities and work closely with local social services departments, health professionals, hospitals, day centres and various specialist agencies as required to meet the individual needs of tenants.

We work in partnership with a wide range of local and communal organisations, social care and health providers to support our tenants to be active and supported members of their local community.

We strive to build our own unique supportive communities within the wider local and Jewish community. Our Community Engagement Team work closely with tenants encouraging and supporting them to play a role in shaping their own community through planning and delivering events, classes and social activities in their development. The team is supported by our wonderful Jewish Blind & Disabled volunteers and a wide range of communal organisations from synagogues to youth groups and schools.

This year our Community Engagement Team have been instrumental in ensuring we support our tenants through Covid-19.

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Jewish Blind & Physically Handicapped Society

REPORT FOR THE COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2020

Empowerment through supportive communities

Gillian moved into Jewish Blind & Disabled’s Cecil Rosen Court in May 2019. Gillian has arthritis and glaucoma, she said: “my glaucoma is getting worse, it doesn’t improve and I find it increasingly difficult to read. My arthritis affects my mobility and causes me pain and I’m not as mobile as I was. In recent months, I have been feeling a bit isolated due to the pandemic but definitely better off living here than in my previous flat. Over the summer, it was nice to be able to sit on the terrace and be with people (from a distance). I know quite a few people here and it’s nice to be able to socialise when the lounge re-opens.”

As an avid poetry writer, Gillian has got involved with the creating writing group on Zoom with other tenants and she is also involved with the University of the Third Age. “JBD Zooms have provided me with something to do and there have been some really interesting sessions. Really do the best they can – try to do things to keep people interested and stimulated.” Overall, Gillian said: “I am happy with my decision to move and I don’t regret it at all.”

Independent Living Advisory Service

Over the past few years we have become acutely aware of the struggles that some people on our waiting list were facing in managing in their own home. In 2018 we established our Independent Living Advisory Service, a service that takes our expertise into people’s own homes. The service both advises and funds the installation of vital aids and adaptations that can support individuals on our waiting list or those who want to remain in their own home to retain their much-prized independence. In the first few months of the year the service supported 20 people. However, this service was suspended in March 2020 due to the pandemic. There are plans to relaunch the service in 2021 when it is safe to do so.

Enabling Independence

With the support of the Independent Living Advisory project, we purchased an electric wheelchair for a lady in her 50s who lives in North West London. She has fibromyalgia and a heart condition. She is also estranged from her family who all live in Israel. This lady was housebound when she contacted us. Having an electric wheelchair means that she is now able to go out on her own and does not depend or rely on others. She wrote to us to thank us for our support and commented: “I very much appreciate your help, and am enjoying the freedom to be out.”

Thanks to a generous donation, we are able to provide this as a free service for anyone from the community who needs support and advice. For low-income households we are also able to source and provide aids and adaptations to support independence.

Protecting and supporting our tenants and staff through Covid-19

A few weeks before the first national lockdown, the Trustees alongside the staff team committed to doing everything possible to support and protect tenants.

New measures were introduced across all of our developments to ensure frontline house managers could continue to respond to emergency situations but reduce unnecessary contact with tenants, to reduce the risk of Covid transmission. Throughout the pandemic we have continued to provide a 24/7 onsite house management service.

At the start of lockdown, we contacted all tenants to identify their needs and ensure we could respond to them. In the first few weeks of lockdown we delivered over 100 gifts; such as knitting wool, puzzles and books, to tenants who weren’t online to reduce boredom and isolation. Thanks to the generosity of donors and a local bakery we delivered challahs to tenants during lockdown and food parcels at Pesach and Rosh Hashanah.

Through our regular calls, we identified a small group of tenants who were struggling with their mental health and who needed specialist professional support. Due to overwhelmed services, we were not able to access local mental health services, but thanks to a generous donor Jewish Blind &Disabled provided them with access to a telephone counselling service.

The Community Engagement Team recruited over 60 new volunteers in the first few weeks who, working alongside our long-standing volunteers, supported Covid services including shopping and telephone befriending services. Volunteers and staff also played a vital role in supporting tenants to get online either via their smart phones or devices we secured for them.

Roles developed as our offering to tenants evolved. Volunteers are now leading Zoom classes and discussion groups. Tenants who had never used a smart phone, tablet or computer before are now joining daily Zoom classes and events. Our varied programme of Zoom activities has kept tenants supported, connected and engaged – many tell us it has got them through this past year.

Our efforts were recognised when Jewish Blind & Disabled were awarded an Innovation in Volunteering during the Covid-19 Pandemic award at the 2020 Jewish Volunteering Network (online) awards ceremony.

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Jewish Blind & Physically Handicapped Society

REPORT FOR THE COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2020

We have worked closely with our local Health Protection Teams and other agencies undertaking regular testing and ensuring effective track and trace systems were in place. We have ensured that throughout the pandemic tenants were provided with information about latest government guidance and what that meant for them.

Sadly, despite all of our efforts we have mourned the loss of six tenants whose lives have been cut short in 2020 due to this virus.

Investing in our developments

We take extreme pride in maintaining each of our buildings to the highest standard, ensuring they provide modern accessible accommodation for our tenants and exceed required health and safety and fire regulation standards.

Works undertaken this year include improvements to the outside spaces at Cherry Tree Court; the installation of a new herb garden and improvements to accessibility of the garden areas. At Fairacres, work is complete to transform the garden to provide larger patio areas, improve the accessibility of the garden and the lift has been upgraded.

In Aztec House, we have converted a previously empty space into an accessible guest room and extended the pergola so tenants can benefit from more shade in the gardens which have been so important during the current pandemic.

Fundraising

We would not be here today if it wasn’t for the generosity of our donors and the support we receive from across the community.

As with many charities, raising voluntary funds from trusts, foundations and individuals is a vital source of income for us. Our fundraised income enables us to:

Our major donors’, trusts’ and foundations’ continued support is a valuable source of income to us. This year income from major donors, trusts and foundations was £502,000. This represented just over 34% of our fundraised income.

We continue to appeal to the community for support twice a year; these direct mailing appeals continue to generate substantial funds. Our Pesach appeal focused on our new development and was delivered to households across the country the week before our first lockdown. Covid and an appeal for a capital project when crisis hit the country impacted on the success of the appeal with a 33% decrease from the previous year. However, our Rosh Hashanah appeal that focused on support we have been providing tenants during lockdown was our strongest appeal for over five years and a 32% increase on previous year.

Legacy income continues to be a vital source of income to support the organisation. Jewish Blind & Disabled operates with a small internal fundraising team and does not engage external professional fundraisers or commercial participators to carry out fundraising activity.

It has been a challenging year for our community fundraising events with most in-person events, apart from our successful annual quiz held in January, having been cancelled due to the pandemic. We have had a number of successful online events during the year including a poker tournament, Young JBD events and a magic show for children. Our community fundraising and events income declined by 63% in 2020 in comparison to 2019.

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Jewish Blind & Physically Handicapped Society

REPORT FOR THE COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2020

We regularly review and update our Privacy Policy. This policy, published on our website, clearly states what personal data Jewish Blind and Disabled holds in relation to supporters and how this data will be used. It sets out how individuals can raise concerns or complaints. Jewish Blind & Disabled has received no complaints about its fundraising activities either during the financial year or subsequently.

At the balance sheet date, total funds were £58,037,225, of which £1,956,816 were endowment funds and £86,180 were restricted funds. There were £50,352,690 of designated funds for fixed assets, £4,541,539 of designated building funds and £500,000 planned maintenance designated fund leaving free reserves of £600,000 at the balance sheet date.

Financial Review

The Statement of Financial Activities on page 12 shows total reserves amount to £58,037,225 at the balance sheet date. The organisation’s income is used wholly in either the provision of support or facilities to tenants within the Society’s projects and other disabled people or on the Society’s acquisition of housing property.

Designated reserves include a building fund which at the balance sheet date amounted to £4,541,539. This represents funds set aside for reconstruction of our proposed new development.

Funding sources are primarily from fundraising (income in 2020 £1,457,943) and rents (2020 rental income £3,422,533). These are applied by provision of services to the Society’s beneficiaries and any free surplus is designated to the building fund.

Financial impact of Covid-19

So much of our work and our resources during 2020 have focused on supporting and protecting our tenants during Covid.

Whilst we have been unable to move new tenants into void apartments our 2020 void remains less than 5% of our housing stock. With rents being our main source of income we are financially stable.

We are aware that Covid-19 may have a longer-term impact on our fundraising, in particular our ambitious plans for our capital fundraising campaign. It is too early to tell what this impact may be, however, we are discussing our various options should we be unable to raise the funds we require to complete works on our eighth building.

Investment Policy

The articles of association authorise the Council to make and hold investments. It is the charity’s policy to place surplus funds in fixed short-term deposits awaiting acquisitions of further sheltered housing accommodation.

Reserves Policy

The Council’s policy is to build up free reserves so that unrestricted funds held by the charity not committed, designated or invested in tangible fixed assets (‘the free reserves’) should be sufficient to cover three months’ total expenditure, which now equates to approximately £600,000. At this level, the Council consider that they would be able to continue the current activities of the charity in the unlikely event of a significant fall in rent alongside a fall in voluntary income.

Pay Policy for Staff

The Finance Committee in conjunction with the Chief Executive review and set the remuneration of the charity’s key management personnel.

Staff pay is reviewed annually by the Finance Committee. Roles are benchmarked against others in the sector to enable us to recruit and retain a skilled workforce.

Risk Management

The Council have a risk management strategy which comprises:

Financial risk is managed by monitoring and reviewing budgets and cash flow on a timely basis and is considered to be low risk.

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Jewish Blind & Physically Handicapped Society

REPORT FOR THE COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2020

The risk attention has also been focused on non-financial risk arising from fire, health and safety of tenants and staff, employment and IT. These risks are managed by having robust policies and procedures in place and regular awareness training for staff working in these operational areas such as our crisis management plan which staff have been trained how to implement.

We have specifically considered the risks for JBD Properties Limited, a wholly owned trading subsidiary. The key risks are associated with the building development, which have been mitigated by putting in place appropriate insurance cover.

Our ambitions for the future

In 2020 we completed the purchase of our eighth development, Coniston Court, located on the corner of Bittacy Hill and Langstone Way, Mill Hill East in the heart of a growing Jewish community.

During 2020 we have been developing our plans for this site. In 2021 we submitted a planning application to the London Borough of Barnet and once successful will undertake a tender process for the works.

The site is currently home to a block of 24 apartments built in 2004. Having done extensive work and financial modelling, we have decided that a total redevelopment of this site will result in a higher-quality building and more cost-effective scheme. Our new scheme will provide 30 two-bedroom mobility apartments alongside communal facilities.

The development has been designed to meet the needs of people with physical disabilities and/or impaired vision. The development will have a communal lounge, laundry facilities, a small garden and roof terrace. There is ample tenants’ parking enabling those who drive to retain this aspect of their independence.

However, we don’t believe we should stop there. We know that there is demand from the community for a development in the Hertfordshire area and we continue to actively look for an appropriate site in this area.

Bricks and motor alone don’t build supportive communities and enable fulfilled lives. We will continue to work alongside our tenants to encourage independence whilst ensuring they feel supported and enabling them to be connected to the wider local and Jewish communities.

On behalf of the Trustees, I would like to thank our staff team and our dedicated volunteers and generous donors without whom none of this would be possible. I have every confidence that working in partnership we can work towards meeting the housing and support needs of Jewish people with physical disabilities or visual impairment and transform even more lives.

By Order of the Council

J Joseph MBE

Member of the Council: (p /-7'-i,

Date of approval:

Moore Kingston Smith LLP were appointed auditors to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Proposed redevelopment of Coniston Court, Building Number 8

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Jewish Blind & Physically Handicapped Society

REPORT FOR THE COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2020

Statement of Members of the Council’s Responsibilities

The Members of the Council (who are also directors of Jewish Blind & Physically Handicapped Society for the purposes of company law) are responsible for preparing the Report of the Council and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Members of the Council to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable group and company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Members of the Council are required to:

The Members of the Council are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable group and company 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 charitable group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Members of the Council are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

In so far as the Members of the Council are aware:

Auditor

The auditor, Moore Kingston Smith LLP, is deemed to be reappointed under sectionn 487(2) of the Companies Act 2006.

By Order of the Council

J Joseph MBE Member of the Council: Date of approval:

10

Independent Auditors’ Report

TO THE MEMBERS OF JEWISH BLIND & PHYSICALLY HANDICAPPED SOCIETY

Opinion

We have audited the financial statements of Jewish Blind & Physically Handicapped Society for the year ended 31 December 2020 which comprise the Group Statement of Financial Activities, the Group and Parent Charitable Company Balance Sheets, the Group Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable in law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

and

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs(UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

11

Independent Auditors’ Report

TO THE MEMBERS OF JEWISH BLIND & PHYSICALLY HANDICAPPED SOCIETY

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 6, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit in respect of fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.

12

Independent Auditors’ Report

TO THE MEMBERS OF JEWISH BLIND & PHYSICALLY HANDICAPPED SOCIETY

Our approach was as follows:

We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are the Companies Act 2006, the Charities Act 2011, the Charity SORP, and UK financial reporting standards as issued by the Financial Reporting Council.

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters which we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company and charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Ml1 OV't \U.lAfl k1-0V\ � Ll..,y)

Shivani Kothari (Senior Statutory Auditor) for and on behalf of Moore Kingston Smith LLP, Statutory Auditor

Devonshire House 60 Goswell Road London

EC1M 7AD

Date: e!i f 1 \ 20 2 f

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Jewish Blind & Physically Handicapped Society

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Other income: Gain of disposal of fixed asset
Endowment
Funds
Notes
2020
£
Income and endowments from:
Donations
4.1
-
Legacies
-
Income from charitable activities:
Rent receivable
-
Fees receivable from management
-
stc
ejo
r
p
g
nis
u
o
h
d
e
r
e
tle
h
s f
o
Year book and diary
-
Other fundraising events
4.2
-
Investment income:
-
elb
a
vie
c
e
r s
d
n
e
divi
D
Interest receivable
-
-
Gain of disposal of fixed asset
Release of Housing Grant
4.3
Total Income
-
Expenditure on:
Raising funds:
Fundraising costs of voluntary income and
other activities
5
-
Charitable activities:
Property management costs
6
-
Tenants’ support costs
6
-
Total expenditure
-
-
Gains/(losses) on investments
14/17
-
Net income before transfers
-
Transfers
20
-
Net Movement in Funds for the Year
-
-
Total funds at 1 January 2020
1,956,816
Total Funds at 31 December 2020
19/21
1,956,816
Net Income before net gains/(losses) on
investments
Assets transferred from Cavendish
Housing Trust Ltd		 Other income: Gain of disposal of fixed asset
Endowment
Funds
Notes
2020
£
Income and endowments from:
Donations
4.1
-
Legacies
-
Income from charitable activities:
Rent receivable
-
Fees receivable from management
-
stc
ejo
r
p
g
nis
u
o
h
d
e
r
e
tle
h
s f
o
Year book and diary
-
Other fundraising events
4.2
-
Investment income:
-
elb
a
vie
c
e
r s
d
n
e
divi
D
Interest receivable
-
-
Gain of disposal of fixed asset
Release of Housing Grant
4.3
Total Income
-
Expenditure on:
Raising funds:
Fundraising costs of voluntary income and
other activities
5
-
Charitable activities:
Property management costs
6
-
Tenants’ support costs
6
-
Total expenditure
-
-
Gains/(losses) on investments
14/17
-
Net income before transfers
-
Transfers
20
-
Net Movement in Funds for the Year
-
-
Total funds at 1 January 2020
1,956,816
Total Funds at 31 December 2020
19/21
1,956,816
Net Income before net gains/(losses) on
investments
Assets transferred from Cavendish
Housing Trust Ltd		 Restricted
Funds
2020
£
80,576
-
-
-
-
2,236
-
-
-		 Unrestricted
Funds
2020
£
625,908
670,752
3,422,533
63,500
36,275
42,196
243
18,563
-
35,896		 Total
Funds
2020
£
706,484
670,752
3,422,533
63,500
36,275
44,432
243
18,563
-
35,896
4,998,678
372,612
1,667,944
1,004,445
3,045,001
1,953,677
(38,292)		 Total
Funds
2019
£
1,072,228
719,015
2,440,748
151,500
32,714
220,161
301
86,551
7,143
-
- 82,812 4,915,866 4,730,361
-
-
-		 442
74,518
28,979		 372,170
1,593,426
975,466		 392,755
1,403,109
854,512
- 103,939 2,941,062 2,650,376
-
-		 (21,127)
-		 1,974,804
(38,292)		 2,079,985
286,076
-
-
-
-		 (21,127)
4,840		 1,936,512
(4,840)		 1,915,385
-
1,915,385
9,274,743		 2,366,061
-
(16,287)
-		 1,931,672
9,274,743		 2,366,061
-
1,956,816
1,956,816		 102,467 44,787,814 46,847,097
58,037,225		 44,481,036
86,180 55,994,229 46,847,097

The results for both years reflect the continuing operations of the Society.

14

Jewish Blind & Physically Handicapped Society BALANCE SHEET AT 31 DECEMBER 2020

Notes
Fixed Assets
Tangible assets
13
Investments
14
Current Assets
Debtors
16
Investments
17
Cash at bank and in hand:
-designated building fund
-other funds
Creditors
Amounts falling due within one year
18
Net Current Assets
Creditors: Amounts falling due after more
19
than one year
Total Assets less Current Liabilities
Funds
Endowments
19
Restricted
20
Unrestricted:-
Designated - building fund
21
Designated - fixed asset fund
21
Designated - planned maintenance fund
21
General
21		 Group
Group
Charity
Charity
2020
2019
2020
2019
£
£
£
£
53,739,802
33,441,765
54,048,957
33,750,920
-
885,000
1,000
886,000
53,739,802
34,326,765
54,049,957
34,636,920
648,674
1,958,761
853,250
2,179,916
5,771
6,550
5,771
6,550
-
6,338,000
-
6,338,000
5,965,702
4,716,177
5,781,853
4,481,036
6,620,147
13,019,488
6,640,874
13,005,502
(595,529)
(499,156)
(594,737)
(486,358)
6,024,618
12,520,332
6,046,137
12,519,144
(1,727,195)
-
(1,727,195)
-
58,037,225
46,847,097
58,368,899
47,156,064
1,956,816
1,956,816
1,956,816
1,956,816
86,180
102,467
86,180
102,467
4,541,539
11,740,528
4,541,539
11,740,528
50,352,690
32,447,286
50,661,845
32,756,253
500,000
-
500,000
-
600,000
600,000
622,519
600,000
55,994,229
44,787,814
56,325,903
45,096,781
58,037,225
46,847,097
58,368,899
47,156,064

A separate income and expenditure account for the charity is not presented as the charity has taken advantage of the exemptions permitted by section 408 of the Companies Act 2006. The net result of the charity for the year was a surplus of £1,938,088 (2019: £2,454,053).

Approved by the Council and Authorised for Issue

J Joseph MBE Chairman Date:

Company Registration No. 00959535

15

Jewish Blind & Physically Handicapped Society

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020

Notes
Cash flows from operating activities
Cash generated from operations
23
Income taxes paid
Interest paid
Cash flows from investing activities
Purchase of property, plant and equipment
Sale of property, plant and equipment
Sale of investment property
Interest received
Dividend income
Transfer of Cavendish Housing Trust Ltd
Net cash used in investing activities
Cash flows from financing activities
Repayment of loans
Net cash used in investing activities
Net (decrease) / increase in cash and cash
equivalents in the financial year
Cash and cash equivalents at the beginning
of the financial year
Cash and cash equivalents at the end of the
financial year		 £
£
£
£
1,981,121
1,177,458
(30,324)
-
(113)
-
1,950,684
1,177,458
(11,167,322)
(339,973)
-
14,125
847,487
-
18,563
86,551
243
301
3,263,711
-
(7,037,318)
(238,996)
(1,841)
-
(1,841)
-
(5,088,475)
938,462
11,054,177
10,115,715
5,965,702
11,054,177
2020
2019		 £
£
£
£
1,981,121
1,177,458
(30,324)
-
(113)
-
1,950,684
1,177,458
(11,167,322)
(339,973)
-
14,125
847,487
-
18,563
86,551
243
301
3,263,711
-
(7,037,318)
(238,996)
(1,841)
-
(1,841)
-
(5,088,475)
938,462
11,054,177
10,115,715
5,965,702
11,054,177
2020
2019
938,462
10,115,715
11,054,177

16

Jewish Blind & Physically Handicapped Society

NOTES TO THE ACCOUNT YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

The charity is a private company limited by guarantee incorporated in England and Wales. The registered office is Frances & Dick James Court, 35 Langstone Way, London, NW7 1GT. The financial statements are prepared in sterling which is the functional currency of the entity. Monetary amounts are rounded to the nearest pound.

The principal accounting policies adopted and judgements in the preparation of the financial statements are as follows:

1.1 Basis of preparation of accounts and assessment of going concern

The financial statements of the charity and subsidiary 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 applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2016.

The Charitable group and company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The Members of the Council decide whether the use of going concern is appropriate and have considered possible events or conditions that might cast doubt on the ability of the charitable group to continue as a going concern. The Members of the Council make this assessment in respect of a period of one year from the date of approval of the financial statements. In particular, the members of Council have considered the charitable company’s forecast and projections and have

considered the potential impacts of the Coronavirus outbreak on the viability of the charitable group. Annual budgets have been revised taking this into account. The charity holds significant reserves and has liquid assets in the form of cash held in short-term deposits. For this reason, the trustees continue to adopt the going concern basis in preparing the financial statements.

1.2 Consolidated accounts

The group financial statements consolidate the financial statements of the charity and its wholly owned subsidiary. JBD Properties Limited, for the year ended 31 December 2020.

Control is achieved where the group has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. The review of subsidiaries acquired or disposed during the year are included in the statements of financial activities from the effective date of acquisition and up to the effective date of disposal, as appropriate using accounting policies consistent with those of the parent. All intra-group transactions, balances, income and expenses are eliminated in full on consolidation.

1.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and

the amount of income receivable can be measured reliably. Where income is received in advance of meeting any

performance-related conditions there is not unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met.

Donations are recognised when the charity has entitlement to the funds and it is probable that the income will be received and the amount can be measured reliably.

Legacies are recognised as the earliest of the dates on which either the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executors to the charity that a distribution will be made or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs. Other income is accounted for on a receivable basis.

1.4 Fund accounting

The following funds are held by the charity:

Further explanation of the nature and purpose of each fund is included in the notes to the accounts.

17

Jewish Blind & Physically Handicapped Society NOTES TO THE ACCOUNT YEAR ENDED 31 DECEMBER 2020

1 Accounting policies (continued)

1.5 Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Value added tax is not recoverable and as such is included in the relevant costs in the Statement of Financial Activities.

1.6 Costs allocation

Costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs other than support costs relating to a particular activity are allocated directly. Support costs are allocated according to the number of staff employed within each activity category. Allocated support costs are re-apportioned amongst cost centres existing within an activity on a percentage basis appropriate to that cost centre.

Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with an apportionment of overhead and support costs. Governance costs are allocated according to the number of staff employed within Fundraising, Property Management and Tenancy Support.

1.7 Operating leases

Rentals payable under operating leases are charged to the Statement of Financial Activities as incurred.

1.8 Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation.

The charity previously adopted a policy of revaluing freehold land and buildings and they were stated at their revalued amount less any subsequent depreciation. The charity has adopted the transition exemption under FRS 102 paragraph 35.10(d) and has elected to use the previous revaluation as deemed cost.

Depreciation is provided on a straight line basis at the following annual rates in order to write off each asset over its estimated useful life:

Assets under construction nil
Freehold and long leasehold land & buildings nil
Assets in the course of construction nil
Fixtures and fttings 20%
Offce equipment 20%
Motor vehicles 25%

Freehold and long leasehold buildings are not depreciated given the continual maintenance of the buildings to ensure that they remain in sound state off report. The council review the valuation of the buildings annually for impairment in its value and they consider that the residual value at the end of its useful economic life will not be less than its present carrying value, no depreciation is charged.

1.9 Investments

Fixed asset investments are stated at cost less permanent diminution in value.

Current asset investments are stated at market value. Realised and unrealised gains and losses on investments are dealt with in the Statement of Financial Activities.

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the Statement of Financial Statements.

1.10 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

18

Jewish Blind & Physically Handicapped Society NOTES TO THE ACCOUNT YEAR ENDED 31 DECEMBER 2020

1.11 Cash at bank and in hand

Cash at bank and cash in hand includes cash and short-term highly liquid investments with a short maturity from the date of opening the deposit.

1.12 Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

1.13 Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments which include trade and other receivables, trade and other payables and cash and bank balances. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.14 Pensions

Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme unless they have exercised

their right to opt out of the scheme membership. The money purchase plan is managed by Legal & General and the plan invests contributions made by the employee and employer in an investment fund to build up over the term of the plan. The pension fund is then converted into a pension upon the employee’s normal retirement age which is defined as when they are eligible for a state pension. The charity has no liability beyond making its contributions and paying across the deductions for the employee’s contributions.

1.15 Housing association grant

The housing association grant, obtained from the transfer of assets and liabilities from Cavendish Housing Trust, is held as a liability and amortised and released to the Statement of Financial Activities over the useful life of the land and buildings that it was used to purchase.

3 Judgements and Key Sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and

assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimate and associated assumptions are based on a historical experience and other factors that are considered to be relevant. Actual results may differ from the estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Fixed asset impairment

The freehold land & building is included at cost. No depreciation is charged and the assets are reviewed annually for impairment. This is considered to be a critical accounting estimate in view of the amounts involved and the judgements applied in the review.

4 Income

Group and charity

4.1 Income from donations was £706,484 (2019: £1,072,228) of which £625,908 was unrestricted (2019: £648,101) and £80,576 was restricted (2019: £424,127).

4.2 Income from other fundraising events was £44,432 (2019: £220,161) of which £42,196 was unrestricted (2019: £220,161) and £2,236 was restricted (2019: £nil).

All legacy, rental, management fee, investment, diary and yearbook income was unrestricted in 2020 and 2019.

19

Jewish Blind & Physically Handicapped Society NOTES TO THE ACCOUNT YEAR ENDED 31 DECEMBER 2020

5 Total expenditure 2020 2019
Group Notes Fundraising Charitable Governance Support Total Total
Costs Activities Costs Costs Costs Costs
£ £ £ £ £ £
Salaries 11 113,121 1,137,886 - 336,049 1,587,056 1,325,068
Direct costs 7-10 216,129 980,126 22,783 161,512 1,380,550 1,213,811
Depreciation - 27,904 - - 27,904 21,319
Legal fees - 49,317 - - 49,317 79,079
Subsidiary costs 15 - 174 - - 174 11,095
329,250 2,195,407 22,783 497,561 3,045,001 2,650,372
Allocation of support expenditure
(by number of staff employed) 41,463 456,098 - (497,561) - -
Allocation of governance expenditure
(by number of staff employed) 1,899 20,884 (22,783) - - -
2020 Group 372,612 2,672,389 - - 3,045,001 2,650,372
p
u
o
r
G
9
1
0
2		 5
5
7
,
2
9
3		 2,257,617 - - 2,650,372
Total expenditure 2020 2019
Charity Notes Fundraising Charitable Governance Support Total Total
Costs Activities Costs Costs Costs Costs
£ £ £ £ £ £
Salaries 11 113,121 1,137,886 - 336,049 1,587,056 1,325,068
Direct costs 7-10 216,129 980,126 17,803 148,720 1,362,778 1,213,811
Depreciation - 27,904 - - 27,904 21,319
Legal fees - 31,767 - - 31,767 79,079
329,250 2,177,683 17,803 484,769 3,009,505 2,639,277
Allocation of support expenditure
(by number of staff employed) 41,463 456,098 - (497,561) - -
Allocation of governance expenditure
(by number of staff employed) 1,484 16,319 (17,803) - - -
2020 Charity 372,197 2,650,100 - (12,792) 3,009,505 2,639,277
y
tir
a
h
C
9
1
0
2		 5
5
7
,
2
9
3		 2,246,522 - - 2,639,277

Apportionment of allocated costs Suppo tr& Governance Costs 50% 50%

Expenditure on fundraising costs was £375,739 (2019: £392,755) of which £375,297 was unrestricted (20 19: £381,392) and £442 was restricted (2019: £8,833).

20

Jewish Blind & Physically Handicapped Society NOTES TO THE ACCOUNT YEAR ENDED 31 DECEMBER 2020

6
Expenditure on charitable activities
Group
Salaries
11
Direct costs
8
Depreciation
Legal fees
Support costs
Governance costs
Subsidiary costs
15
2020 Group
2019 Group
Expenditure on charitable activities
Charity
Salaries
11
Direct costs
8
Depreciation
Legal fees
Support costs
Governance costs
2020 Charity
2019 Charity
7
Fundraising costs
Group and charity
Year book and diary expenditure
Events
Advertising and appeal costs
Campaign and public relations fees
Legacy costs
Direct costs		 Tenant
2020
2019
Property
Support
Total
Total
Management
Costs
Costs
Costs
£
£
£
£
467,454
670,432
1,137,886
950,654
911,912
68,214
980,126
814,118
596
27,308
27,904
21,321
49,317
-
49,317
79,079
228,049
228,049
456,098
358,206
10,442
10,442
20,884
23,148
174
-
174
11,095		 Tenant
2020
2019
Property
Support
Total
Total
Management
Costs
Costs
Costs
£
£
£
£
467,454
670,432
1,137,886
950,654
911,912
68,214
980,126
814,118
596
27,308
27,904
21,321
49,317
-
49,317
79,079
228,049
228,049
456,098
358,206
10,442
10,442
20,884
23,148
174
-
174
11,095
1,667,944
1,004,445
2,672,389
2,257,621
1,403,109
854,512
2,257,621
Tenant
2020
2019
Property
Support
Total
Total
Management
Costs
Costs
Costs
£
£
£
£
467,454
670,432
1,137,886
950,654
911,912
68,214
980,126
814,118
596
27,308
27,904
21,321
31,767
-
31,767
79,079
228,049
228,049
456,097
358,206
8,160
8,160
16,318
23,148
1,647,938
1,002,163		 2,650,098
2,246,526
1,392,014
854,512		 2,246,526
2020
2019
£
£
16,162
14,597
97,902
115,393
48,335
60,929
46,691
56,118
7,039
6,852
216,129
253,889

21

Jewish Blind & Physically Handicapped Society

NOTES TO THE ACCOUNT YEAR ENDED 31 DECEMBER 2020

8
Property management costs
Group and charity
Rates
Insurance
Light & heat
Repairs, maintenance and refurbishment
Cleaning
Gardening
Telephone & sundries
Direct costs
Tenant support costs
Entertaining & events and tenant support
Prospective tenant costs
Motor & travel expenses
Ambulance & mini-bus
Direct costs
Total direct charitable activities costs
9
Governance costs
Group and charity
Auditor’s remuneration
-audit services
-other services
Direct costs
10
Support costs
Group and charity
Staff recruitment and training
Telephone
Bookkeeping and accountancy fees
Printing, postage and stationery
General insurance
Office repairs
Computer costs
Bank and credit card charges
Bad debts written off
Bank interest
General
Support costs - direct costs		 2020
£
60,764
37,869
124,707
579,877
20,263
48,213
40,219
911,912
23,782
10,340
12,869
21,223
68,214
980,126
2020
£
20,520
2,263
22,783
2020
£
20,684
22,837
10,193
6,064
31,465
1,978
27,299
4,612
8
30,324
6,048
161,512		 2019
£
46,861
26,440
72,280
494,486
9,677
39,969
22,185
711,898
30,989
41,378
18,178
11,675
102,220
814,118
2019
£
24,050
1,670
25,720
2019
£
42,057
10,182
2,052
9,094
12,854
6,951
27,247
4,548
2,634
-
2,465
120,084

22

Jewish Blind & Physically Handicapped Society

NOTES TO THE ACCOUNT YEAR ENDED 31 DECEMBER 2020

11
Salaries
Group and charity
s
r
e
n
a
elc
d
n
a
s
r
e
g
a
n
a
m
e
s
u
o
H
t
n
e
m
e
g
a
n
a
m
g
nis
u
o
h
d
n
a
ytr
e
p
o
r
P
Tenants support
3
/
2
-
m
a
e
t
n
gia
p
m
a
C
Campaign team - 1/3
Administration
Independent Living
Total salary expenditure
12
Staff costs
Group and charity
The costs of staff were:		 2020
2019
Fundraising
Expenditure
Support
Costs
Total Costs
Total Costs
(Tenant
support)
(Property
management)
£
£
£
£
£
£
-
348,042
-
-
348,042
230,995
-
-
467,454
-
467,454
410,361
-
283,798
-
-
283,798
272,713
-
1
2
1
,
3
1
1
-
-
113,121
96,494
-
-
-
56,560
56,560
48,247
-
-
-
279,489
279,489
229,673
-
38,592
-
-
38,592
36,585.00
Charitable Expenditure
113,121
670,432
467,454
336,049
1,587,056
1,325,068
Staff costs
Group and charity
The costs of staff were:
Salaries
Social security costs
Pension costs		 2020
2019
£
£
1,408,118
1,181,546
128,454
109,099
50,484
34,423
1,587,056
1,325,068

The number of employees who received employee benefits (excluding employer pension costs) of more than £60,000 is as follows:

2020 2019
In the band £60,001- £70,000 - 1
In the band £70,001- £80,001 1 -
In the band £80,001- £90,000 1 -
In the band £90,001- £100,000 - 1
In the band £110,001- £120,000 1 -

The pension costs relating to these employees were £12,495 (2019: £5,438)

The key management personnel of the charity comprise the Members of the Council, the Chief Executive Officer, the Property Development Director and the Head of House Management and Tenancy Support. The total salary and benefits of the key management personnel were £343,756 (2019: £302,197).

No remuneration was paid in the year to Members of the Council or their connected persons (2019: £nil) nor were expenses reimbursed to them.

Average number of employees, including part-time staff, during the year was as follows: -

Direct charitable work
Fundraising
Support		 2020
2019
49
48
5
5
6
1
60
54

Pension costs are allocated to activities in proportion to the related staffing costs incurred and are wholly charged to unrestricted funds.

Approximately 160 (2019: 101) volunteers continue to support the professional team and the tenants. This includes 100 long-standing volunteers plus additional 60 'Covid-19' volunteers who befriended and shopped for tenants during lockdown. With the support of the volunteers, the tenants are able to enjoy the privacy of their own mobility apartment and the opportunity to be part of the community when they choose. The wide range of clubs and activities that is provided are designed to reflect the wide range of interests of the tenants.

23

Jewish Blind & Physically Handicapped Society NOTES TO THE ACCOUNT YEAR ENDED 31 DECEMBER 2020

13
Tangible fixed assets
Group
Cost or valuation
At 1 January 2020
Additions
Disposals
Transfer from Cavendish Housing Trust Ltd
0
2
0
2
r
e
b
m
e
c
e
D
1
3
t
A
Depreciation
At 1 January 2020
Charge for the year
Transfer from Cavendish Housing Trust Ltd
Fully depreciated assets
At 31 December 2020
Net book values
0
2
0
2
r
e
b
m
e
c
e
D
1
3
t
A
9
1
0
2
r
e
b
m
e
c
e
D
1
3
t
A		 Freehold
and Long
Leasehold
Land and
Buildings
£
34,251,058
12,437,595
-
8,620,001
4
5
6
,
8
0
3
,
5
5
854,900
-
776,216
-
1,631,116
8
3
5
,
7
7
6
,
3
5
8
5
1
,
6
9
3
,
3
3		 Fixtures
and
Fittings
£
2
2
8
,
7
6
-
(67,822)
9
7
9
,
2
-
67,822
596
2,383
(67,822)
9
7
9
,
2
)
9
7
9
,
2
(
-		 Motor
Vehicles
£
99,179
-
-
99,179
83,880
7,650
-
91,530
7,649
15,299		 Office
Equipment
£
74,349
43,965
(20,027)
98,287
44,041
19,658
(20,027)
43,672
54,615
30,308		 Total
£
34,492,408
12,481,560
(87,849)
8,622,980
55,509,099
1,050,643
27,904
778,599
(87,849)
1,769,297
53,739,802
33,441,765

(i) Land and buildings and fixtures and fittings are used directly for charitable purposes. Motor vehicles are used for care and campaign purposes, and direct charitable purposes. Office equipment is used in the management and administration of the society.

(ii) The freehold properties are deemed to be carried at cost, representing the frozen valuation as at 1 January 2014, as permitted under the transitional arrangements to FRS102. The historical cost of the freehold properties included in the valuations amounted to £34,037,423.

Tangible fixed assets
Charity only
Cost or valuation
At 1 January 2020
Additions
Disposals
Transfer from Cavendish Housing Trust Ltd
0
2
0
2
r
e
b
m
e
c
e
D
1
3
t
A
Depreciation
At 1 January 2020
Charge for the year
Transfer from Cavendish Housing Trust Ltd
Disposals
At 31 December 2020
Net book values
0
2
0
2
r
e
b
m
e
c
e
D
1
3
t
A
9
1
0
2
r
e
b
m
e
c
e
D
1
3
t
A		 Freehold
and Long
Leasehold
Land and
Buildings
£
34,560,213
12,437,595
-
8,620,001
9
0
8
,
7
1
6
,
5
5
854,900
-
776,216
-
1,631,116
3
9
6
,
6
8
9
,
3
5
3
1
3
,
5
0
7
,
3
3		 Fixtures
and
Fittings
£
2
2
8
,
7
6
(67,822)
9
7
9
,
2
9
7
9
,
2
67,822
596
2,383
(67,822)
9
7
9
,
2
-
-		 Motor
Vehicles
£
99,179
-
-
-
99,179
83,880
7,650
-
91,530
7,649
15,299		 Office
Equipment
£
74,349
43,965
(20,027)
-
98,287
44,041
19,658
(20,027)
43,672
54,615
30,308		 Total
£
34,801,563
12,481,560
(87,849)
8,622,980
55,818,254
1,050,643
27,904
778,599
(87,849)
1,769,297
54,048,957
33,750,920

24

Jewish Blind & Physically Handicapped Society NOTES TO THE ACCOUNT YEAR ENDED 31 DECEMBER 2020

14 Investment Properties - Group and Company

Investment Properties - Group and Company
Fair value
At 1 January
Reclassification from tangible fixed asset on chang
e
s
u
f
o
e
Revaluation
Disposal
At 31 December		 2020
£
885,000
-
(37,513)
(847,487)
-		 2019
£
-
0
0
0
,
0
0
6
285,000
-
885,000

15 JBD Properties Limited

Jewish Blind & Physically Handicapped Society has a wholly-owned trading subsidiary, JBD Properties Limited, a company incorporated and registered in England and Wales, company number 09174972. The principal activity of this company is the development of properties. All profits are donated to the charity by gift aid. The charity owns the entire issued share capital of 1,000 ordinary shares of £1 each. A summary of the results is shown below:

Profit and loss account
Turnover
Cost of Sales
Administrative expenses
Profit /(Loss) for the financial year
Balance sheet
Current assets:
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
Net current assets/ (liabilities)
Capital and reserves:
Called up share capital
Profit and loss reserves
Debtors
Group
2020
£
Amounts falling due within one year:
5
1
9
,
7
3
1
elb
a
vie
c
e
r t
n
e
R
Amount due from subsidiary undertaking
-
1
6
9
,
3
elb
a
r
e
v
o
c
e
r
n
oit
a
x
a
T
Other debtors
6,470
Prepayments and accrued income
500,328
-
ts - Coniston Court
n
e
m
y
a
p
e
r
P
648,674		 Group
2019
£
93,555
-
10,321
15,155
525,492
1,314,238
1,958,761		 2020
£
25,930
(17,550)
(5,154)
3,226
2020
£
92,470
183,848
276,318
(275,131)
1,187
1,000
187
1,187
Charity
2020
£
137,915
208,537
-
6,470
500,328
-
853,250		 2019
£
327,876
(303,682)
(11,095)
13,099
2019
£
62,579
235,140
297,719
(296,532)
1,187
1,000
187
1,187
Charity
2019
£
93,555
221,155
10,321
15,155
525,492
1,314,238
2,179,916

16

25

Jewish Blind & Physically Handicapped Society

NOTES TO THE ACCOUNT YEAR ENDED 31 DECEMBER 2020

17
Investments
Group and charity
Market value at 1 January 2020
Unrealised gain/(loss) in year
Market value at 31 December 2020
Historical cost at 31 December 2020
Represented by:-
UK quoted investments
468
Ordinary shares of 10p in Lloyds Banking Group plc
564
Ordinary shares of 25p in Barclays pl
c
89
Ordinary shares of 6.17 in Centric
clp
a
547
Ordinary shares of 11.39p in National Grid plc		 2020
£
6,550
(779)
5,771
14,246
171
7
2
8
1
4
4,732
5,771		 2019
£
5,474
1,076
6,550
14,246
293
1,013
79
5,165
6,550

18 Creditors: amounts falling due within one year

s
r
o
tid
e
r
c
e
d
a
r
T
Building retention monies
s
r
o
tid
e
r
c r
e
h
t
O
Accruals and deferred income
s
n
a
ol k
n
a
B
Other taxation and social security		 Group
2020
£
3
0
8
,
3
6
176,424
7
2
4
,
3
6
2
53,964
1
1
9
,
7
3
-
595,529		 Group
2019
£
32,659
177,624
198,642
78,419
-
11,812
499,156		 Charity
2020
£
63,603
118,206
263,427
111,590
37,911
-
594,737		 Charity
2019
£
31,201
118,206
198,642
134,898
-
3,411
486,358

Included in accruals and deferred income is £17,291 of rental income deferred at the end of 2020 (2019: £22,335). Included in other creditors is pension creditor of £8,210 (2019: £7,384).

19 Creditors: amounts falling due over one year

n
a
ol k
n
a
B
Housing corporation grant
Analysis of creditor:
Repayable between one and two years
Repayable between two and five years
Repayable after five years		 Group
2020
£
2
6
5
,
9
1
2
1,507,633
1,727,195
38,103
115,642
1,573,450
1,727,195		 Group
2019
£
-
-
-
-
-
-
-		 Charity
2020
£
219,562
1,507,633
1,727,195
38,103
115,642
1,573,450
1,727,195		 Charity
2019
£
-
-
-
-
-
-
-

The Bank loan and Housing Corporation grant were transferred from Cavendish Housing Trust on 1 January 2020. The Bank loan was repayable in instalments over a 60-year period from March 1985 and is secured by a specific charge on a housing property. It bears interest at a fixed rate of 9.25% per annum. The housing corporation grant is amortised and released to the Statement of Financial Activities over the useful life of the land and buildings it was used to purchase.

26

Jewish Blind & Physically Handicapped Society

NOTES TO THE ACCOUNT YEAR ENDED 31 DECEMBER 2020

19
Endowment funds
Jewish
Association
for Physically
Handicapped
£
Grant received in 2001
-
Grant received in 2003
-
Grant received in 2004
-
Grant received in 2005
77,337
Adjustment on revaluation
Transfer to general funds
77,337
Net Income at 1 January 2020
-
Income for year
-
Expenditure
-
-
0
2
0
2
r
e
b
m
e
c
e
D
1
3
t
a
e
m
o
c
n
I t
e
N
7
3
3
,
7
7
0
2
0
2
r
e
b
m
e
c
e
D
1
3
e
c
n
ala
b
d
n
u
F
7
3
3
,
7
7
9
1
0
2
r
e
b
m
e
c
e
D
1
3
e
c
n
ala
b
d
n
u
F		 The Frances
And Dick
J N Somers
James
Charitable
Charitable
Will Trust
Settlement
£
£
1,000,000
-
-
400,000
-
200,000
-
-
246,682
152,764
(74,802)
(45,165)
1,171,880
707,599
-
-
-
-
-
-
-
-
1,171,880
707,599
1,171,880
707,599		 Total
£
1,000,000
400,000
200,000
77,337
399,446
(119,967)
1,956,816
-
-
-
-
1,956,816
1,956,816

The J N Somers and F & D James funds represent the value of permanent endowment funds donated to the Society for the specific purpose of contributing towards the costs of sheltered housing.

The Jewish Association for the Physically Handicapped fund represents an expendable endowment fund which was donated to provide for the needs of Jewish physically disabled persons.

27

Jewish Blind & Physically Handicapped Society NOTES TO THE ACCOUNT YEAR ENDED 31 DECEMBER 2020

20 Restricted funds Group and charity

The restricted funds comprise the following unexpended balances of donations and grants held in trust to be applied for specific purposes.

2020
Milne Court fund
School project fund
Tenant event fund
Tenant event fund Yaron Taal
Buildings fund
Tenant grant funded
Independent Living
CRC2
Other
2019
Milne Court fund
School project fund
Tenant event fund
Cherry Tree Court
Fairacres Funds
Frances & Dick James Court Refurbishment fund
Bushey development fund
tc
ejo
r
P
g
niviL
t
n
e
d
n
e
p
e
d
n
I
Other		 Balance at
Transfer to
Balance at
01.01.2020
Income
Expenditure
31.12.2020
£
£
£
£
£
6,000
-
6,000
15,318
5,000
(442)
-
19,876
11,119
7,900
(12,369)
-
6,650
4,500
(5,061)
(561)
5,000
57,850
(73,246)
10,395
-
1,438
(1,273)
165
53,333
326
(10,245)
-
43,414
5,000
-
(5,000)
-
11,697
798
(1,305)
(555)
10,635
Movement in Funds
Unrestricted funds
102,467
82,813
(103,940)
4,840
86,180
Balance at
Transfer from
Balance at
01.01.2019
Income
ExpenditureUnrestricted funds
31.12.2019
£
£
£
£
£
4,389
6,000
)
9
8
3
,
4
(
6,000
5,552
12,927
(3,161)
-
15,318
13,951
553
(3,385)
9
1
1
,
1
1
-
9,500
(9,500)
-
-
-
5,000
-
-
5,000
-
50,000
(50,000)
-
277,406
(8,833)
(268,573)
-
8
1
5
,
7
5
44,216
(48,401)
-
53,333
7,760
18,525
(14,588)
7
9
6
,
1
1
Movement in Funds
89,170
424,127
(137,868)
(272,962)
102,467

Transfers of funds

The transfer of funds represents the purchase of buildings and refurbishment. The purchases have fulfilled the restrictions and the costs have been transferred to general funds.

21 Unrestricted funds

Group
At 1 January 2020
s
r
e
fs
n
a
rt
e
r
o
f
e
b
r
a
e
y r
o
f
e
m
o
c
ni t
e
N
(Loss) on investment
Transfers
At 31 December 2020
Transfer from Cavendish Housing Trust Ltd		 Building
Fixed Assets
Planned
Maintenance
General
Total
Fund
Fund
Fund
Fund
Funds
£
£
£
£
£
11,740,528
32,447,286
-
600,000
44,787,814
-
-
-
1,974,804
1,974,804
-
-
-
(38,292)
(38,292)
-
7,843,785
-
1,430,958
9,274,743
(7,198,989)
10,061,619
500,000
(3,367,470)
(4,840)
4,541,539
50,352,690
500,000
600,000
55,994,229

28

Jewish Blind & Physically Handicapped Society NOTES TO THE ACCOUNT YEAR ENDED 31 DECEMBER 2020

21 Unrestricted funds (Continued)

Charity
At 1 January 2020
Net income for year before transfers
Loss on investment
Transfer from Cavendish Housing Trust Ltd
Transfers
At 31 December 2020		 Building
Fund
£
11,740,528
-
-
-
(7,198,989)
4,541,539		 Fixed Assets
Fund
£
32,756,253
-
-
7,843,785
10,061,807
50,661,845		 Planned
Maintenance
Fund
£
-
-
-
-
500,000
500,000		 General
Fund
£
600,000
1,959,998
(779)
1,430,958
(3,367,658)
622,519		 Total
Funds
£
45,096,781
1,959,998
(779)
9,274,743
(4,840)
56,325,903

The Council of Members have reviewed the designated funds and have initiated a number of transfers so that the final balances represent a more accurate picture of the funds held in line with their current strategy.

Building Fund - funds set aside for acquisition, development and refurbishment of properties for sheltered housing accommodation. This includes the refurbishment costs for Coniston Court to be spent in the next 12 months.

Planned Maintenance fund - funds set aside for the planned maintenance works in 2021.

Fixed Asset Fund - this represents the net book value of the total fixed assets used by the charity which are not included in Endowment funds. Transfers to and from the fund represent the proportionate amount in net book values.

22 Analysis of net assets between funds

2020
Fixed assets
Net current assets
Creditors over one year
Total net assets at 31 December 2020
2019
Fixed assets
Current assets
Current liabilities
Total net assets at 31 December 2019		 Endowment
Funds
£
1,879,479
77,337
-
1,956,816
Endowment
Funds
£
1,879,479
77,337
-
1,956,816		 Restricted
Funds
£
-
86,180
-
86,180
Restricted
Funds
£
-
102,467
-
102,467		 Designated
Funds
£
51,860,323
5,041,539
(1,507,633)
55,394,229
Designated
Funds
£
32,447,286
11,740,528
-
44,187,814		 General
Funds
£
-
819,562
(219,562)
600,000
General
Funds
£
-
1,099,156
(499,156)
600,000		 Total
Funds
£
53,739,802
6,024,618
(1,727,195)
58,037,225
Total
Funds
£
34,326,765
13,019,488
(499,156)
46,847,097
Net movement in funds for the year
Adjustments for:
Depreciation of property, plant and equipment
Unrealised (gains)/losses on investments
Interest income
Dividend income
Interest paid
Release of housing grant
Gain in disposal of fixed asset
(Increase)/decrease in trade and other debtors
Increase/(decrease) in trade and other creditors
Cash generated from operations
Net Debt Reconciliation
Cash at bank and in hand
Bank loan		 2020
£
1,915,385
27,904
38,292
(18,563)
(243)
30,324
(35,896)
-
41,430
(17,512)
1,981,121
1 January
£
11,054,177
-
11,054,177		 2019
£
2,366,061
21,321
(286,076)
(86,551)
(301)
-
-
(7,143)
(751,422)
(78,431)
1,177,458
Transfer from
Cavendish
-
(223,418)
1,177,458		 Cashflows
£
(5,088,475)
1,841
(5,086,634)		 31 December
£
5,965,702
(221,577)
5,744,125

29

Jewish Blind & Physically Handicapped Society

NOTES TO THE ACCOUNT YEAR ENDED 31 DECEMBER 2020

24
Operating lease commitments
Amounts due within one year
s
r
a
e
y
e
vif
d
n
a
o
w
t
n
e
e
w
t
e
b
e
u
d
st
n
u
o
m
A		 Group
2020
£
4,535
1
6
6
,
8
13,196		 Group
2019
£
4,535
13,196
17,731		 Charity
2020
£
4,535
8,661
13,196		 Charity
2019
£
4,535
13,196
17,731

25 Legal status of the Society

The Society is a private company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

26 Related Party Transactions

Jewish Blind & Physically Handicapped Society has a wholly owned trading subsidiary, JBD Properties Limited. During the year, JBD Properties invoiced Jewish Blind & Physically Handicapped Society (JBDS) £Nil (2019: £323,876) (gross) and accrued costs of £nil (2019: £62,579) for the Bushey Heath Development costs. At the year end, £208,537 (2019: £221,155) was owed from JBD Properties Limited.

During the year, Stewart Partners provided payroll services totalling £2,767 (2019 - £2,052) to Jewish Blind & Physically Handicapped Society. At the year end, there were £nil amounts outstanding (2019 - £nil). Stewart Partners is controlled by close family of one of the trustees.

27 Cavendish Housing Trust

The assets and liabilities of Cavendish Housing Trust Limited were transferred to the Jewish Blind and Physically Handicapped Society on 1st January 2020. The total assets were £9,274,743. Cavendish Housing Trust Limited was a Housing Trust where the majority of the Trustees were also Trustees of Jewish Blind & Physically Handicapped Society.

30

www.jbd.org Company No: 00959535 (England and Wales) @JBDCharity on Facebook, Twitter and Instagram32 Charity No: 259480