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|---|---|---|---|
|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|
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|||||||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|
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|||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|
##
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##
||||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|
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|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|
##
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|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|
##
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||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|
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|||||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.|
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||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|
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||||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|
##