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2021-09-30-accounts

Governors Harold Paisner (Chairman Harold Paisner (Chairman Harold Paisner (Chairman and
President
until
1 May		 2022)
Ann Berger (Chairman and President
from
1 May 2022)
Martin Paisner CBE
Henry Charles (Appointed 25 February 2021)
Gideon Harbour (Appointed 3June 2021)
Louis Zlotowski-Merran (Appointed 3June 2021)
Secretary Harold Paisner
Charity number 276203
Company number 01376848
Principal address Raymond
Burton House
129 - 131Albert Street
London
NW1 7NB
Registered office Devonshire
House
1 Devonshire
Street
London
W1W 5DR
Auditor Landau
Morley LLP
Chartered
Accountants
325-327 Oldfield Lane North
Greenford
Middlesex
UB6 OFX
Bankers Barclays Bank Plc
Pall Mall Corporate Group
PO Box15165
London
SWIA 1QF
Solicitors Bryan Cave Leighton Paisner LLP
Governor's
House
5 Laurence
Pountney		 Hill
London
EC4R OBR
Page
Governors' report 1-3
Statement of Governors'
responsibilities
Independent auditor's report 5-7
Statement offinancial activities 8-9
Statement offinancial position 10
Statement ofcash flows
Notes to the financial statements 12-21

Unrestricted Restricted Endowment Total Total
Notes funds funds funds
f		 2021f 2020f
Income from:
Donations,
legacies,
contributions
towards overheads
and similar income 518,277 914,134 1,432,411 1,630,493
Investments 8,813 8,813 64,471
Total income 527,090 914,134 1,441,224 1,694,964
Ex enditure on:
Raising funds 93
Charitable
activities		 244,402 951,478 1,195,880 2,438,297
Total expenditure 244,402 951,478 1,195,880 2,438,390
Net gains/(losses) on
investments 10 22,877 22,877 (30,224)
Net income/(expenditure)
before transfers 305,565 (37,344) 268,221 (773,650)
Gross transfers
between		 funds 18 3,064 (3,064)
Net movement
in		 funds 308,629 (40,408) 268,221 (773,650)
Fund balances at 1 October
2020 560,236 3,698,827 50,000 4,309,063 5,082,713
Fund balances at 30
September 2021 868,865 3,658,419 50,000 4,577,284 4,309,063

Unrestricted Restricted Endowment Total
Notes funds
f		 funds funds
f		 2020f
Income from:
Donations,
legacies, contributions		 towards
overheads
and		 similar income 257,099 1,373,394 1,630,493
Investments 64,471 64,471
Total income 321,570 1,373,394 1,694,964
Ex enditure on:
Raising funds 93 93
Charitable
activities		 60,666 2,377,631 2,438,297
Total expenditure 60,759 2,377,631 2,438,390
Net (loss)/gains on investments 10 (30,224) (30,224)
Net income/(expenditure) before transfers 230,587 (1,004,237) (773,650)
Gross transfers between funds
Net movement in funds 230,587 (1,004,237) (773,650)
Fund balances at 1 October 2019 329,649 4,703,064 50,000 5,082,713
Fund balances at 30September 2020 560,236 3,698,827 50,000 4,309,063

2021 2020
Notes f
Fixed assets
Property,
plant and		 equipment 12 733 703
Investments 13 265,942 243,065
266,675 243,768
Current assets
Trade and other receivables 15 68,285 25,493
Cash at bank and in hand 4,320,734 4,101,427
4,389,019 4,126,920
Current
liabilities		 16 (78,410) (61,625)
Net current assets 4,310,609 4,065,295
Total assets less current liabilities 4,577,284 4,309,063
Capital funds
Endowment
funds		 17 50,000 50,000
Income funds
Restricted funds 18 3,658,419 3,698,827
Unrestricted
funds		 868,865 560,236
4,577,284 4,309,063

2021 2020
Notes f
Cash flows from operating activities
Cash generated from/(absorbed
by)		 22
operations 210,833 (779,568)
Investing activities
Purchase of property, plant and equipment (339) (893)
Interest received 8,813 64,471
Net cash generated from investing
activities 8,474 63,578
Net increase/(decrease) in cash and cash
equivalents 219,307 (715,990)
Cash and cash equivalents at beginning ofyear 4,101,427 4,817,417
Cash and cash equivalents at end of year 4,320,734 4,101,427

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021f 2021f 2021f 2020
E		 2020 2020
Donations and gifts 59,167 914,134 973,301 107,099 603,394 710,493
Legacies receivable 459,110 459,110 150,000 770,000 920,000
518,277 914,134 1,432,411 257,099 1,373,394 1,630,493
Unrestricted Unrestricted
funds funds
2021f 2020
Income from listed investments 8,759 9,694
Interest receivable 54 54,777
8,813 64,471

5 Raising funds Raising funds
2021 2020
Fundraising and publicity costs 93
93
6 Charitable activities
2021f 2020
Staff costs 33,580 33,608
Depreciation and impairment 309 314
Insurance 1,154
Repairs and maintenance 2,750 2,530
Postage and stationery 1,849 1,810
Telephone expenses 690 2,140
Travel expenses 619 906
Computer
running		 costs 443 713
Sundry expenses 2,285 116
Gains/(losses) on foreign exchange 156,499 (77,640)
Rent 16,000 17,600
Bank charges 792 859
Accountancy fees 20,820 14,280
Auditor's fees 2,304 2,520
Advertising 1,888 160
241,982 (84)
Grant funding ofactivities (see note 7) 953,898 2,438,381
1,195,880 2,438,297
Analysis
by		 fund
Unrestricted funds 244,402 60,666
Restricted funds 951,478 2,377,631
1,195,880 2,438,297

2021 2020f
Grants to institutions:
Ben-Gurion University ofthe Negev 953,898 2,438,381

The average
monthly
number
ofemployees
during
 the year was:
2021 2020
Number Number
Employee(s)
Employment
costs		 2021f 2020f
Wages and salaries 32,233 31,212
Social security costs (260) 835
Other pension costs 1,607 1,561
33,580 33,608

Unrestricted Unrestricted
funds funds
2021f 2020
Revaluation of investments 22,877 (30,224)

12 Equipment
Office Computer Total
fittings and Equipment
equipmentf f
Cost
At 1 October 2020 2,494 10,620 13,114
Additions 339 339
At 30September 2021 2,494 10,959 13,453
Depreciation
and impairment
At 1 October 2020 1,941 10,470 12,411
Depreciation
charged
in the year		 138 171 309
At 30September 2021 2,079 10,641 12,720
Carrying
amount
At 30September 2021 415 318 733
At 30September 2020 553 150 703
13 Fixed asset investments
Listed
investmentsf
Cost or valuation
At 1 October 2020 243,065
Valuation
changes		 22,877
At 30September 2021 265,942
Carrying
amount
At 30September 2021 265,942
At 30September 2020 243,065

14 Financial
instruments		 Financial
instruments		 2021f 2020f
Carrying
amount		 offinancial assets
Debt instruments measured at amortised cost 62,456 19,354
Equity instruments measured at fair value at the year end 265,942 243,065
Carrying
amount		 offinancial liabilities
Measured
at amortised
cost		 77,759 60,825
15 Trade and other receivables
Amounts
falling		 due within one year: 2021f 2020f
Other receivables 62,456 19,354
Prepayments
and		 accrued income 5,829 6,139
68,285 25,493
16 Current
liabilities
2021f 2020f
Other taxation and social security 651 800
Other payables 63,731 46,425
Accruals and deferred
income		 14,028 14,400
78,410 61,625

Movement in funds
Balance at Incoming Resources Transfers Investments Balance at
1 October 2020 resources expended gains/losses 30September
2021
Permanent endowments
Endowment Fund 50,000 50,000
50,000 50,000

Movement
in funds		 Movement
in funds
Balance at Incoming Resources Transfers Balance at
1 October resources expended 30
2020 September
2021f
Funds raised for the University 3,698,827 914,134 (951,478) (3,064) 3,658,419
Analysis ofnet assets between funds
Unrestricted Restricted
Capital		 funds Total
fundsf fundsf f
Fund balances at 30September 2021 are
represented by:
Property, plant and equipment 733 733
Investments 265,942 265,942
Net current assets 602,190 3,658,419 50,000 4,310,609
868,865 3,658,419 50,000 4,577,284

2021f 2020f
7,665 17,600

trustee, donated f10,000to the Foundatio n. Henry Cha rles
is also a truste		 e ofthe Trust.
22 Cash generated
from operations		 2021f 2020f
Surplus/(deficit)
for the year		 268,221 (773,650)
Adjustments
for:
Investment
income recognised
in statement		 offinancial activities (8,813) (64,471)
Fair value gains and losses on investments (22,877) 30,224
Depreciation
and impairment
of property,		 plant and equipment 309 314
Movements
in working
capital:
(Increase)
in trade and other receivables		 (42,792) (14,945)
Increase
in trade and other payables		 16,785 42,960
Cash generated
from/(absorbed
by) operations		 210,833 (779,568)