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2020-12-31-accounts

REGISTERED COMPANY NUMBER: 01543797 (England and Wales) REGISTERED CHARITY NUMBER: 282049

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2020

for

The British Friends of the Jaffa Institute

Grunberg & Co Limited Chartered Accountants 5 Technology Park Colindeep Lane Colindale London NW9 6BX

The British Friends of the Jaffa Institute

Contents of the Financial Statements for the Year Ended 31 December 2020

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Statement of Financial Position 6 to 7
Notes to the Financial Statements 8 to 11

The British Friends of the Jaffa Institute (Registered number: 01543797)

Report of the Trustees for the Year Ended 31 December 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of 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 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity's object and its principal activity is to make charitable contributions for the relief of poverty, sickness and the advancement of education. It particularly supports The Institute for the Advancement of Education in Jaffa, a registered charity in the State of Israel. The charity is aware that, due to its endeavours, various individuals and charities have sent monies directly to the Institute without the monies being sent via The British Friends of the Jaffa Institute.

The charity is organised so that the Trustees meet regularly to manage its affairs. There is one full time administrator, who both manages the day to day administration of the charity and assists in organising fund raising activities.

The trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the charity's aims and objectives and in planning future activities.

Achievements and performance

During the year the charity has continued its philanthropic activities and mainlined its support engaging in the advancement of education in Israel. The charities income is derived from donations received from individuals and trusts. The reserves remain available to further those purposes compatible with the aims and objectives of the charity. The trustees expect such demands to increase in future years. The financial results of the company are fully reflected in the attached financial statements together with the notes thereon.

During the year under review donations raised totalled £316,376 (2019 - £281,590). Donations made during the year totalled £271,514 (2019 - £265,202).

FINANCIAL REVIEW

Principal funding sources

The charities income is derived from donations received from individuals and trusts In addition, some fundraising is done via advertising.

Reserves policy

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity at a level which equates to approximately six months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs and to respond to emergency applications for grants which arise from time to time. Unrestricted funds were maintained at least at this level throughout the period. The trustees are satisfied that the present balance of distributable reserves is sufficient to support anticipated expenditure.

Financial position

The financial position of the charity is satisfactory.

The charity's statement of Financial activities show a net surplus of £13,832 (2019 - net deficit of £17,975) and total reserves of £26,857 (2019 - £13,025).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Page 1

The British Friends of the Jaffa Institute (Registered number: 01543797)

Report of the Trustees for the Year Ended 31 December 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

New trustees are appointed based on personal competence, specialist skills, local availability and from those who are able to promote the charitable activities of the charity.

New Trustees undergo an orientation day to brief them on their legal obligations under charity and company law, the contents of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity. During the induction day they meet key employees and other Trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Organisational structure

All directors of the company are also Trustees of the charity, and there are no other Trustees. All of the Trustees named on the frontispiece served throughout the year unless otherwise stated. The Board has power to appoint additional Trustees as it considers fit to do so.

The day to day affairs of the company are administered by a full time administrator who is not a director or a trustee.

None of the trustees have any beneficial interest in the charity. All trustees give their time voluntarily and no benefit or expenses were paid to them in the year.

Risk management

The trustees have a duty to identify and review the risks to which the charitycharity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

01543797 (England and Wales)

Registered Charity number

282049

Registered office

76 Glouchester Place London W1U 6HJ

Trustees

Mr A M Garfield FCA B P Davis D R Meller DR D J Portowicz

Company Secretary

Mr S N Winters OBE

Independent Examiner

Grunberg & Co Limited Chartered Accountants 5 Technology Park Colindeep Lane Colindale London NW9 6BX

Page 2

The British Friends of the Jaffa Institute (Registered number: 01543797)

Report of the Trustees for the Year Ended 31 December 2020

Approved by order of the board of trustees on 3 September 2021 and signed on its behalf by:

B P Davis - Trustee

Page 3

Independent Examiner's Report to the Trustees of The British Friends of the Jaffa Institute

Independent examiner's report to the trustees of The British Friends of the Jaffa Institute ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCA which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Gedalia Waldman FCA Grunberg & Co Limited Chartered Accountants 5 Technology Park Colindeep Lane Colindale London NW9 6BX

6 September 2021

Page 4

The British Friends of the Jaffa Institute

Statement of Financial Activities for the Year Ended 31 December 2020

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
251,681
EXPENDITURE ON
Charitable activities
Relief of poverty, sickness and advancement of
education
249,454
NET INCOME/(EXPENDITURE)
2,227
RECONCILIATION OF FUNDS
Total funds brought forward
13,025
TOTAL FUNDS CARRIED FORWARD
15,252		 Restricted
fund
£
64,695
53,090
11,605
-
11,605		 2020
Total
funds
£
316,376
302,544
13,832
13,025
26,857		 2019
Total
funds
£
281,590
299,565
(17,975)
31,000
13,025

The notes form part of these financial statements

Page 5

The British Friends of the Jaffa Institute (Registered number: 01543797)

Statement of Financial Position 31 December 2020

Unrestricted
Restricted
fund
fund
Notes
£
£
FIXED ASSETS
Tangible assets
6
1
-
CURRENT ASSETS
Debtors
7
1,350
-
Cash at bank
16,001
11,605
17,351
11,605
CREDITORS
Amounts falling due within one year
8
(2,100)
-
NET CURRENT ASSETS
15,251
11,605
TOTAL ASSETS LESS CURRENT
LIABILITIES
15,252
11,605
NET ASSETS
15,252
11,605
FUNDS
9
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2020
Total
funds
£
1
1,350
27,606
28,956
(2,100)
26,856
26,857
26,857
15,252
11,605
26,857		 2019
Total
funds
£
1
-
15,137
15,137
(2,113)
13,024
13,025
13,025
13,025
-
13,025

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 6

continued...

The British Friends of the Jaffa Institute (Registered number: 01543797)

Statement of Financial Position - continued 31 December 2020

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 3 September 2021 and were signed on its behalf by:

B P Davis - Trustee

The notes form part of these financial statements

Page 7

The British Friends of the Jaffa Institute

Notes to the Financial Statements for the Year Ended 31 December 2020

1. STATUTORY INFORMATION

The British Friends Of The Jaffa Institute is a private company, limited by guarantee, registered in England and Wales. The company's registered number and office address can be found on the Company Information Page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling £.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, cash at bank and loans from banks and related or third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Debtors

Basic financial assets, including trade and other debtors, are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash and cash equivalents represented by cash in hand and deposits held at call with financial institutions, are measured at amortised cost.

Creditors

Basic financial liabilities, including trade and other creditors, are recognised at transaction price.

Incoming resources

Donations are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust 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 company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

continued...

Page 8

The British Friends of the Jaffa Institute

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

2. ACCOUNTING POLICIES - continued

Resources expended

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

Taxation

The company charityis exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

3. GRANTS PAYABLE

GRANTS PAYABLE
2020 2019
£ £
Relief of poverty, sickness and advancement of education 271,514 265,202
4. SUPPORT COSTS
Governance
Other costs Totals
£ £ £
Relief of poverty, sickness and advancement
of education 28,930 2,100 31,030

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.

continued...

Page 9

The British Friends of the Jaffa Institute

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

6. TANGIBLE FIXED ASSETS

COST
At 1 January 2020 and 31 December 2020
DEPRECIATION
At 1 January 2020 and 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019
7.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Prepayments and accrued income
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accrued expenses
9.
MOVEMENT IN FUNDS
At 1.1.20
£
Unrestricted funds
General fund
13,025
Restricted funds
Restricted fund
-
TOTAL FUNDS
13,025
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
251,681
Restricted funds
Restricted fund
64,695
TOTAL FUNDS
316,376		 Fixtures
and
fittings
£
3,857
3,856
1
1
2020
2019
£
£
1,350
-
2020
2019
£
£
2,100
2,113
Net
movement
At
in funds
31.12.20
£
£
2,227
15,252
11,605
11,605
13,832
26,857
Resources
Movement
expended
in funds
£
£
(249,454)
2,227
(53,090)
11,605
(302,544)
13,832

continued...

Page 10

The British Friends of the Jaffa Institute

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

9. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.1.19
£
Unrestricted funds
General fund
31,000
TOTAL FUNDS
31,000
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
281,590
TOTAL FUNDS
281,590		 Net
movement
At
in funds
31.12.19
£
£
(17,975)
13,025
(17,975)
13,025
Resources
Movement
expended
in funds
£
£
(299,565)
(17,975)
(299,565)
(17,975)

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2020.

11. LIMITED BY GUARANTEE

The company is limited by guarantee, every member promises that if the Charity is dissolved while he or she remains a member, or within twelve months afterwards to contribute up to £1 towards the cost of dissolution of the liabilities incurred by the Charity.

12. FINANCIAL ASSETS & LIABILITIES

2020 2019
£ £
Financial assets measured at amortised cost 27,606 15,137
Financial liabilities measured at amortised cost 2,100 2,113

All financial assets and liabilities are held at amortised cost.

Page 11