2021-03-31-accounts

			Page
Reference and Administrative Details ofthe Charity,		its Trustees and Advisers
Trustees' Report			2-5
Independent Auditors'	Report on the Financial Statements		6-9
Statement of Financial	Activities		10
Statement of Financial	Position
Statement ofCash Flows			12
Notes to the Financial	Statements		13-24

REFERENCE AND	REFERENCE AND	REFERENCE AND	ADMINISTRATIVE DETAILS OF THE CHARITY, ITSTRUSTEES AND ADVISERS
			FOR THE YEAR ENDED 31 MARCH 2021
Trustees			Dr Leonard S Polonsky CBE
			Dr Georgette Bennett
			Mare A L Polonsky
			Hannah Polonsky Whitney
			Joshua-Merc Tanenbaum
Charity	registered
number			291143
Principal	office		8 Park Crescent
			London
			W1B1PG
Independent		auditors	Nyman Libson Paul LLP
			Chartered Accountants
			Statutory Auditors
			124 Finchley Road
			London
			NW3 5JS
Bankers			Lloyds Bank Pic
			39Threadneedle Street
			London
			EC2R 8AU

						Unrestricted	Total	Total
						funds	funds	funds
						2021	2021	2020
					Note		F	E
Income from:
Investments						399,844	399,844	424,100
Other income								17,870
Total income						399,844	399,844	441,970
Expenditure on:
Charitable activities					8	2,103,941	2,103,941	3,530,367
Other expenditure					7	45,909	45,909
Total expenditure						2,149,850	2,149,850	3,530,367
Net expenditure	before net gainsl(losses)			on
investments						(1,750,006)	(1,750,006)	(3,088,397)
Net gains/(losses)		on investments				2,548,198	2,548,198	(806,833)
Net movement	in	funds				798,192	798,192	(3,895,230)
Reconciliation	of	funds:
Total funds brought			forward			15,200,667	15,200,667	19,095,897
Net movement	in funds					798,192	798,192	(3,895,230)
Total funds carried			forward			15,998,859	15,998,859	15,200,667

					2021	2020
					f	E
Cash flows from operating		activities
Net cash	used in operating	activities			(1,707,128)	(3,967,140)
Cash flows from investing		activities
Dividends	and interest				399,844	424,100
Proceeds	from sale of investments				1,340,583	2,644,431
Net cash	provided by investing activities				1,740,427	3,068,531
Change	in cash and cash	equivalents	in	the year	33,299	(898,609)
Cash and	cash equivalents	at the beginning		ofthe year	268,234	1,166,843
Cash and cash equivalents		at the end	of	the year	301,533	268,234

		Unrestricted	Total
		funds	funds
		2021	2021
			E
Interest received		19,471	19,471
Dividends	received	380,373	380,373
		399,844	399,844
		Unrestricted	Total
		funds	funds
		2020	2020
			E
Interest received		17,185	17,185
Dividends	received	406,915	406,915
		424,100	424,100

Foreign	exchange	gains
			Unrestricted	Total
			funds	funds
			2020	2020
Foreign	exchange	gains	17,870	17,870

			Grants to	Total
			Institutions	funds
			2021	2021
			E
Grants	to	institutions	2,028,430	2,028,430
			Grants to	Total
			Institutions	funds
			2020	2020
Grants	to	institutions	3,422,669	3,422,669

Analysis ofgrants (cont	inued)
		2021	2020
			F
Name ofinstitution
The Van Leer Jerusalem	Institute	550,486	599,143
Friends of Bezalel Academy ofArts		399,202	784,128
University of Oxford		298,056	103,958
University of Cambridge		173,382	410,000
The Hebrew University of	Jerusalem	90,222	176,044
Royal College of Music		70,000	108,883
The Rhodes Trust		50,000
The Old Vic Trust		45,000	25,000
Am-Is Cultural Foundation		40,122	40,391
Royal National Theatre		35,000	25,000
Classics for All		33,000	7,000
Oxford Centre of Hebrew	and Jewish Studies	28,015	39,893
British Friends of Haifa University		19,527	73,905
Biblioteca Nazionale Centrale Rome		18,655	37,220
American Friends ofTel Aviv University		14,979	45,445
Heidelberg University			448,539
New York University			95,528
Herzog August Bibliothek			67,296
Aspen Music Festival and	School		60,891
WNET (Simon Schema's	'Story ofthe Jews and the Fate ofthe World' )		38,813
		1,865,646	3,187,0?7
Other grants to institutions		162,784	235,592
		2,028,430	3,422,669

Unrestricted	Total	Total
funds	funds	funds
2021	2021	2020
		E
45,909	45,909

Grant
funding of	Support	Total
activities	costs	funds
2021	2021	2021
E		E
2,028,430	75,511	2,103,941

		Grant
		funding of	Support	Total
		activities	costs	funds
		2020	2020 E	2020f
Charitable	activities	3,422,669	107,698	3,530,367

	Charitable	Total
	activities	funds
	2021	2021
	F
Staff salaries and pension costs	47,161	47,161
Auditors' remuneration	4,410	4,410
Accountancy fees	8,856	8,856
Bank charges	1,710	1,710
Secretarial fees	9,754	9,754
General office expenses	1,271	1,271
Consultancy fees	2,323	2,323
Travel expenses	26	26
	75,511	75,511
	Charitable	Total
	Activities	funds
	2020	2020
Staff salaries and pension costs	48,185	48,185
Auditors' remuneration	4,500	4,500
Accountancy fees	9,180	9,180
Bank charges	2,329	2,329
Secretarial fees	12,083	12,083
General office expenses	14,575	14,575
Consultancy fees	16,095	16,095
Travel expenses	751	751
	107,698	107,698

				2021	2020
				E	F
Fees payable	to the charity's	auditor for the audit ofthe charity's	annual
accounts				4,500	4,500

Staff costs
				2021	2020
				E
Wages and	salaries			45,000	45,000
Social security costs				998	2,019
Contribution	to defined	contribution	pension schemes	1,163	1,166
				47,161	48,185

The	average	number	of	persons	employed	by	the	charity	during	the	year	was	as	follows:
														2021	2020
														No.	No.

	Listed
	investments
Cost or valuation
At 1 April 2020	14,330,152
Disposals	(1,334,954)
Revaluations	2,553,827
At 31 March 2021	15,549,025
Net book value
At 31 March 2021	15,549,025
At 31 March 2020	14,330,152

	2021	2020
		E
Due within one year
Other debtors	153,859	610,028

			2021	2020
Other taxation	and social security		119	2,420
Other creditors			339	227
Accruals and deferred		income	5,100	5,100
			5,558	7,747

								Balance at
				Balance at 1			Gains/	31 March
				April 2020	Income	Expenditure	(Losses)	2021
				E			E
Unrestricted		funds
General	Funds - all funds			15,200,667	399,844	(2,149,850)	2,548,198	15,998,859
Statement of			funds - prior year
								Balance at
				Balance at			Gains/	31 March
				1 April 2019	Income	Expenditure	(Losses)	2020
					E		E	E
Unrestricted		funds
General	Funds		- all funds	19,095,897	441,970	(3,530,367)	(806,833)	15,200,667

										2021	2020
										F
Net income/expenditure	for		the	year	(as	per	Statement	of	Financial
Activities)										798,192	(3,895,230)
Adjustments for:
Losses on investments										(2,553,827)	805,696
Dividends and interest										(399,844)	(424,100)
Loss on the sale offixed asset			investments							(5,629)	1,137
Decrease/(increase) in debtors										456,169	(456,169)
Increase/(decrease) in creditors										(2,189)	1,526
Net cash used in operating		activities								(1,707,128)	(3,967,140)

17.	Analysis	ofcash and	cash equivalents
				2021	2020
					F.
	Cash at	bank		301,533	268,234
	Total cash and cash		equivalents	301,533	268,234
18.	Analysis	ofchanges	in net debt

						At 1 April		At 31 March
						2020	Cash flows	2021
								F
						E
Cash	at	bank	and	in	hand	268,234	33,299	301,533