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2022-12-31-accounts

THE WIENER HOLOCAUST LIBRARY TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Collect, Preserve, Share Keeping truth alive since 1933

Registered Company No: 00596820 Registered Charity No: 313015

THE WIENER HOLOCAUST LIBRARY

CONTENTS

Page
Trustees’ report
Chair’s Foreword 2
Mission, Achievements, Future 3
Financial Review, Fundraising 6
Organisational Disclosures 8
Trustees’ Responsibilities 10
Reference and administrative information 11
Financial Statements
Statement of financial activities 12
Balance sheet 13
Statement of cash flows 14
Notes to the financial statements 15
Independent auditor’s report 27

THE WIENER HOLOCAUST LIBRARY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

CHAIR’s FOREWORD

I would like to begin by praising the hard work of The Wiener Holocaust Library team, both the professional staff and my fellow Trustees, whose unwavering commitment and adaptability in facing the challenges posed by escalating costs of living and working have been nothing short of commendable. We have had to adopt new cost-effective strategies and take immense pride in the unified efforts of all at The WHL to ensure that the invaluable impact and public good delivered by this remarkable organisation remained minimally affected.

In the face of trials encountered by all public-facing institutions in difficult circumstances, we have steadfastly pursued our strategic imperative. Our prominence has continued to grow, resonating deeply among our users and the wider public. The flexibility we have exhibited enabled us to sustain our offerings and adapt as necessary to prioritise key projects.

One such project was The Wiener Holocaust Library's exhibition, in partnership with the Community Security Trust (CST), which responded to the uptick in harassment and the proliferation of antisemitism, partly fuelled by conspiracy theories, during the COVID-19 pandemic. Through never-before-seen documents from the WHL collections and striking photographs from CST's archives, the exhibition threw light on a century-long history of combating antisemitism in France, Britain, and Germany. It highlighted the stories of individuals, organisations, and campaigns, illustrating the diverse strategies employed, from publishing pamphlets to infiltrating fascist groups. CST and the David Berg Foundation, a US-based charitable trust, supported this exhibition.

We began two of a series of initiatives to commemorate The Library's 90th anniversary in 2023/24. We developed two powerful exhibitions. " Highlights From the Archives " showcases pivotal objects from our collections including early warnings of Nazi antisemitism, secret ghettos diaries, and eyewitness testimonies. " The Wiener Family Story " recounts the history explored in Lord Daniel Finkelstein’s 2023 book, " Hitler, Stalin, Mum and Dad ", an acclaimed publication that has helped bring The Library’s origins to large audiences.

In 2022, The Library made substantive headway in elevating its profile across all our core audiences—university students, academics, scholars, family researchers, genealogists, descendants of victims, survivors, Jewish communities with refugee heritage, adult learners, the interested public, fellow organisations in our sector, existing donors, and devoted volunteers.

Whilst digitisation plans have been in place for some years, the pandemic underscored the urgency to accelerate our digital agenda. We completed the first year and beginning of the second year of our comprehensive 5-year Digital Transformation Project to make one third of our collections digitally accessible; a truly ambitious goal. We secured the requisite funding to inaugurate the project and are progressing on schedule and budget.

I must also highlight two other notable achievements from 2022:

The WHL, as these examples demonstrate, occupies a unique and pivotal role in society, enriching the public good by rendering its highly relevant collections accessible to its audiences. We will persist in fulfilling our important public role guided by our mission, history, and holdings.

The Board is proud and extremely grateful of the strides the WHL continues to make. Our capacity to persevere and thrive in such times is owed to the leadership of our Director, Dr Toby Simpson, the sagacity of our senior management, the diligence of our staff, the support of our patrons, the fortitude of our partners, and most notably, the unfaltering support of our community of benefactors and individuals who continue to stand by us. We are profoundly thankful for their enduring and generous support.

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

TRUSTEES’ REPORT

The Trustees present their report and financial statements for the year ended 31 December 2022. The financial statements have been prepared in accordance with current statutory requirements, the charity’s governing instrument, and the Statement of Recommended Practice (SORP 2019).

This report is in four sections.

SECTION I

MISSION, ACHIEVEMENTS & FUTURE PLANS

OBJECTIVES, PRINCIPAL ACTIVITY AND MISSION

The Wiener Holocaust Library’s (‘The Library’s’) objectives and its principal activity in the year under review concern the advancement of the study and knowledge of the Holocaust and related subjects, including genocide more broadly. No substantial change in the activity of The Library for the year to 31 December 2023 is contemplated. The Trustees are aware of their requirements to have due regard to the Charity Commission’s general guidance on public benefit, ‘Charities and Public Benefit’.

Formed in 1933, The Wiener Holocaust Library is Britain’s leading institute for the study of the Holocaust and genocide. The Library’s unique collection of over two million items is the oldest of its kind in the world. It includes published and unpublished works, documentation, press cuttings, photographs, and eyewitness testimony.

Our vision is to continuously develop a library, archive and information service for the UK and the international community, dedicated to supporting research, learning, and teaching and advocacy about the Holocaust and genocide, their causes, and consequences.

Our mission is:

Our activities give a voice to the victims of the Holocaust and other genocides. We support education and confront antisemitism and Holocaust denial and distortion. We work to bring together networks of people from different backgrounds. We put the past at the service of the future.

ACHIEVEMENTS AND PERFORMANCE

In the pursuit of its mission, The Library aims to reach the widest range of audience through a diverse approach to and a large variety of public-facing activities. The highlights of these efforts are described below. Please refer to the table at the end of the section for metrics.

In 2022, we are particularly proud of the progress in our Digital Transformation Project. This is in addition to the advances made across the board of our endeavours.

The total number of visitors to The Library increased by more than 60% on the previous year. We are pleased to see this ongoing recovery of in-person participation following the pandemic.

In 2022, The Library curated two in-house exhibitions and hosted two externally curated travelling exhibitions. In February, we mounted a month-long display of the travelling exhibition Leave to Land: The Kitchener Camp Rescue, 1939 , curated by Claire Weissenberg, which showcased materials relating to the approximately four thousand Jewish men who were rescued from Germany after Kristallnacht to a transmigration camp in Kent. The first of our internally curated exhibitions was mounted in March and was entitled Fighting Antisemitism from

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Dreyfus to Today , which explored the individuals, organisations and campaigns that fought back against antisemitism in France, Britain, and Germany since the late nineteenth century to the present. The second exhibition, ‘ There was a time…’: Jewish Family Photographs before 1939 showcased family photographs in our unique collections as historical and artistic objects, asking readers to reconsider their significance. Finally, the Library hosted The Vienna Model of Radicalisation: Austria and the Shoah in partnership with the House of Austrian history, Vienna. Each exhibition was accompanied by a programme of associated events.

We continued to enhance WHL’s online education website The Holocaust Explained . We added thirteen new articles to the site including an extensive case study examining the concentration camp of Ravensbrück, an article on the Bermuda Conference of 1943, and a case study on the German occupation of Greece. Usage remains high with unique users originating from over 200 countries, returning to a stable growth trend following an unusual peak in users in 2021. Our analysis suggests that the 2021 usage was due to unusual numbers of people using home education resources during the pandemic. In connection with this resource, the Library runs a programme of educational workshops, both online and in person, which continues to grow in terms of reach and impact.

The Library continues to benefit from its enhanced website, seeing a significant growth in users. Thanks to investment in previous years, we are now able to showcase a much wider range of digitised collections on our site. Our Content Management System also allows us to be more agile and responsive in positing news stories and online exhibitions.

In terms of expansion of our collections, the WHL received a wide range of new items, including document collections, photographic collections, rare books, periodicals subscriptions, manuscripts and unpublished memoirs.

The Library made giant strides in our five-year Digital Transformation Project. The number of images digitised reached the highest level in our history. Success is also measured in terms of completing the scanning of entire document collections. The effort involves a large number of Library staff and outside service providers. As such, the project remained the single largest individual expenditure item of Restricted Funds.

We saw very significant growth in the in-person attendance at the 57 WHL events, including, lectures, workshops, panel discussions and conferences. Attendees were roughly equally split between in person and online, with hybrid events now possible due to investment in new audiovisual equipment in the Library’s exhibition and event space. While online attendance is down compared to the pandemic, we anticipate room for growth in online attendance numbers as we learn how to make the most of new patterns of demand for inperson, online and hybrid events.

The Library continues to be the UK copyholder of the International Tracing Service (‘ITS’) archive, an important responsibility held since 2013. In 2022, the team was expanded and efforts to market the service through national roadshows were stepped up. The transition meant a slight decrease in cases handled. Our highly trained team search complex material, in multiple languages, often providing contextualising information. The feedback we receive demonstrates that this work can be life-changing for the survivors and relatives who find out about the fate of their ancestors.

We continue to participate in the European Holocaust Research Infrastructure [EHRI], which is evolving into a permanent institution supporting access to Holocaust archives across Europe. We have a partnership with the Holocaust Research Institute, Royal Holloway, University of London on academic programming as part of our joint Holocaust and Genocide Research Partnership (HGRP) initiative. Our collaboration with Granta Books continues with the preparation of the book Anti-Anti: A Jewish Guide to Nazi Lies, 1932 , expected to be published in 2024. We partner with the Association of Jewish Refugees (AJR) on joint events and publicity to our shared audiences.

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

----- Start of picture text -----
` 2022 2021
Library Visitors
Total Visitors of which: 4,212 2,478
Exhibitions 3,100 1,905
Reading Room 1,112 573
Website Visitors
Main Website
Users 168,533 132,282
Holocaust Explained
Users 1,392,872 2,037,159
Page views 2,313,693 3,435,220
Events' Reach
Talks, Lectures at the Library
Number 57 64
In-person attendees 823 307
Online attendees 919 2,196
YouTube views 11,141 14,964
Educational Sessions: school-aged
Number 43 19
Students reached 933 740
Teachers reached 93 95
Tours, Invited Talks
Number 51 33
People reached 1,568 1,384
Research
International Tracing Service
New enquiries processed, of which 239 292
Survivors & relatives 174 230
Researchers, academics 65 62
Collection Enhancements
Digitised images (documents, pamphlets) 86,195 27,692
Digitised document collections 75 65
New printed items (books, memoirs, etc) 1,004 948
New document & photo collections 63 37
----- End of picture text -----

FUTURE PLANS

Building on the successes of this year, we made substantial strides in various areas of our recently refreshed Strategic Plan (2021-2025).

Engagement of Diverse Audiences

While exhibitions remain pivotal in engaging our audiences, we are diversifying our outreach through various new media channels, and especially through film and video content. We will continue to address pertinent issues in public, wherever there is alignment with our mission, history, and collections.

Expanded Education and Outreach

Our flagship online resource, 'The Holocaust Explained' , remains instrumental in our efforts to expand education and outreach. Our workshops based on our unique collections offer an unparalleled learning experience and remain central to our education strategy. Future plans include potentially remodelling our seminar room in order to better accommodate school groups, by for instance installing an interactive whiteboard.

Enhanced Access to Collections

Our Digital Transformation Project stands as the cornerstone in revolutionising access to our collections. Through meticulous cataloguing and streamlined acquisition workflows, and the development of a Digital Library, we will be in a strong position to extend our reach both nationally and internationally.

Increased Research Impact

The Wiener Holocaust Library continues to develop its role as a leading engine of Holocaust research globally through fostering collaborations with esteemed organisations in the field of Holocaust studies. In 2023 we will finalise a research strategy to support these efforts.

Building and Facilities at 29 Russell Square

We have conducted a feasibility study to explore opportunities for enhancement. Although we are unlikely to undertake a major refurbishment of the whole building, we now plan to refurbish our main exhibition space.

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Growth in Resources

To match our ambitious goals, we remain focused on growing our donation income. Initiatives like our membership programme and the establishment of our US Friends will both play a crucial role in expanding our supporter base, as will the plans to offer regular donor breakfasts and milestone dinners.

As we reflect on our progress, we are confident that we are effectively fulfilling our role as Britain's Holocaust Archive. Nevertheless, we can do more in future to ensure our collections reach even wider audiences. We remain committed to preserving and sharing the vital heritage and evidence entrusted to our care.

SECTION II

FINANCIAL REVIEW & FUNDRAISING

FINANCIAL REVIEW

Financial position

The Wiener Holocaust Library is in a good financial position and has reserves sufficient to withstand the currently known challenges in 2023.

Going concern

During 2022, The Library’s Unrestricted General Funds advanced to £805,710 (2021: £771,869). The Board considers this to be an appropriate reserve, supporting on-going activities (see Reserves Policy below).

Total Unrestricted Funds increased during the year by £25,895 (2021: £161,424). Total Restricted Funds declined by £480,942 (2021: increase of £341,873), which was for nearly 64% attributable to a decline in invested funds by circa 9.1% (2021: increase of circa 11.6%) or a drop of £309,747 (2021: increase of £375,557). Normal Restricted activities in the year, excluding investments results, showed a deficit of £148,270 (2021: deficit of £56,609). This is a regular pattern for Restricted operations resulting from unpredictable timing of grant income against generally multi-year expenditures from those grants. The Trustees are satisfied that The Library meets going-concern standards.

The Board remains immensely grateful to its supporters who continue to show their commitment to The Library’s mission. In unrestricted funds, our core funders renewed their grants with a noticeable increase by the Sigrid Rausing Trust. Unrestricted donations by a wide range of individuals and charitable foundations, amounted to £225,484 (2021: £289,645). Restricted donations increased to £530,907 (2021: £449,330). Of total Restricted Income, donations for The Library’s multi-year digitisation project were £122,599 (2021: £195,191).

Total expenditures during 2022 amounted to £1,484,723 (2021: £1,200,004). Of these, 46% (2021: 57%) was covered by unrestricted funds and 54% (2021: 43%) by restricted funds. The Library continues to be a high fixedcost operation. Salaries amounted to 58% (2021: 61%) of overall costs. Ongoing operating costs were 26% (2021:26%). The remaining 16% (2021: 13%) are direct outlays on projects, substantially all covered by restricted funds. The overall increases in costs were related to increases in staff, connected to The Library’s ambitious programmes on digitisation, additional activities funded by the Hecht legacy, and necessary expenditures on premises and IT.

For the 2022 Accounts, the depreciation policy on the Library’s leasehold has been changed to a straight-line depreciation from the date of inception of the lease. This change does not have any bearing of impact on the going-concern of the Library.

These comments should be read in conjunction with the financial statements on pages 12 to 26.

Reserves Policy

The Library’s objective is to raise income from donations to cover annual expenditure on the charitable mission and objectives as far forward as possible and to build free reserves in order to:

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THE WIENER HOLOCAUST LIBRARY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The unrestricted general reserve at year-end was £805,710 (2021: £771,869). The policy is to maintain these undesignated reserves at a minimum equal to six months of projected charitable expenditures, including relevant restricted costs. The current general reserve exceeds the six-month projected costs of £789,330 (2021: £746,970). The Board is satisfied with the level of reserves.

The Board has established designated funds for 1) maintenance of the premises, 2) digitisation of the collection, 3) redevelopment and refit of the exhibition and public spaces, and 4) infrastructure repair, notably the roof. These liquid designated funds on 31 December 2022 stood at £281,310 (2021: £249,350).

The Finance & Risk Committee quarterly monitors in detail the current and expected cashflows of Unrestricted and Restricted funds to ensure continued liquidity for The Library overall.

Investment policy and returns

At year-end, The Library had circa £2.1 million (2021: £2.2 million) of the restricted Catalyst Fund invested in two open-ended funds managed by Troy Asset Management. Capital depreciation during the year amounted to £129,049 (2021: £243,109). Rathbones Investment Management’s charity team manages funds of the Hecht Legacy, on a discretionary basis. These, held in a selection of open-ended funds, were valued at balance sheet date at £811,750 (2021: £1,032,448) following losses of £180,698 (2021: gains of £132,448) and a withdrawal of £40,000 in cash (2021: nil)

The Library’s Finance & Risk Committee is responsible for the management of its investments and reviews these on a quarterly basis. The Committee draws on a few Trustees and individuals with relevant experience to formulate investment strategies. As part of risk control discipline, the committee ensures the investments are appropriately diversified and monitors risk exposures in the context of other investments. Trustees confirm that investments are held in accordance with the powers available to them.

Risk Management, Internal Controls and Mitigation

The Library maintains a Risk Register which records and monitors the major risks faced by the institution and includes mitigation actions and procedures to protect The Library, its members, staff, public, and other stakeholders. This Register is reviewed on a quarterly basis by the Finance & Risk Committee, with a Board review on a bi-annual basis. The Trustees regularly review controls as part of the Finance & Risk terms of reference and are satisfied that systems are in place to mitigate identified risks to an acceptable level.

Financial Risks

Non-financial risks & mitigation

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

FUNDRAISING

During the year, the generosity of all donors raised £1,284,232 (2021: £1,274,923) excluding legacies and ancillary activities.

The principal sources of funding for the Charity are:

Most donations are raised through written applications and project proposals to the grant giving person or entity. The remainder is encouraged through social media, activities and appeals such as the Big Give.

Fundraising responsibility lies with the Director supported by a Development Coordinator as well as senior management and individual staff. The effort is overseen and supported by, and receives advice from, a Fundraising Committee, which meets on a quarterly basis with minutes presented to the Board. It comprises the Board Chair, the Treasurer, two other Trustees and a co-opted external participant well versed in fundraising matters. This committee reviews the fundraising pipeline and initiatives.

The focus of fundraising is:

Fundraising activities are developed in line with the Fundraising Code of Practice set by the Regulator. The Library’s fundraising promise can be found on the website. Robust policies are in place regarding vulnerable people and treating donors fairly. During the year, no complaints regarding fundraising activities were received.

SECTION III

ORGANISATIONAL DISCLOSURES

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

The Wiener Holocaust Library is registered as a charitable company limited by guarantee and governed by its Memorandum and Articles of Association. It was incorporated in 1958 and last changed its constitution in 2015.

Organisational structure and decision-making policies

The Trustees, who are also the directors of the company for the purposes of company law, have overall responsibility for ensuring that the charity meets its charitable objectives and has an appropriate system of controls, financial and otherwise. All Trustees are involved in ensuring that the legal obligations of the charity are met, and that the charity pursues its charitable objectives as set out in the governing documents.

The Board meets quarterly and has an Away Day each year, where the Trustees and the senior management come together to discuss and update on strategy and progress. The Board delegates the exercise of certain of its powers as set out below which it controls through regular reporting.

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The Finance and Risk Committee (F&R) meets on a quarterly basis, and ad hoc, when necessary, with minutes presented to the Board. F&R reviews key risks, staff well-being, staff recruitment and remuneration, safety and security, operations on premises and IT, as well as all financial aspects of The Library.

The Treasurer who is Chair of F&R, together with The Library’s finance officer, oversees the external audits and meets at least once a year with the auditors.

F&R advises the Board on the appropriate level of General Reserves. F&R is supported by an Investment Advisory Panel, which oversees The Library’s investments.

Remuneration of staff is delegated to and subsequently reviewed by the Board to a subset of F&R, consisting of Board Chair, Treasurer, one other Trustee and Director. Remuneration of the Director is set by the Board. The pay level for staff is set by reference to periodic benchmarking to equivalent posts in similar institutions and market intelligence as appropriate.

Responsibility for the execution of Board policies is delegated to the Director who is appointed by the Trustees and supported by a senior management team.

Trustees

The Board seeks to appoint, by simple majority, Trustees, who have a strong affinity with the mission of the charity while aiming to have a balance of background, skills, and expertise that support The Library in its vital work. All Trustees give their time voluntarily and receive no benefits. Each Trustee can serve a maximum of nine years in three separate terms of three years and may offer themselves for re-appointment at the end of each term. The Board currently comprises ten Trustees which is the maximum permitted under the Articles of Association.

New Trustees are offered an induction meeting with the Board Chair, the Chair of the Finance and Risk Committee, other Trustees, and the Director as appropriate. They are referred to the relevant guidance of the Charity Commission and have access to Accounts, Board minutes and other necessary documentation.

Trustees who reached the end of their terms during the year have been reappointed in accordance with the Memorandum of Association. Trustees who held office during the year and as at the date of this report are:

Anthony Landes, Board Chair Catherine Colloms Arend Dikkers, Treasurer Jonathan Glazer Frank Harding Ian Haworth (Resigned 24[th] July 2023) Dr Lizzie Marx Professor Philip Spencer Dr Zoë Waxman Andreas Weseman

Patrons

Dr Yossi Beilin Ms Helena Bonham Carter CBE Dr Colin Boswell Sir Andrew Burns KCMG Mr Jonathan Caplan QC Sir Mick Davis The Lord Finkelstein OBE Prof Anthony Finkelstein CBE Mr Martin Fraenkel The Rt Hon Margaret Hodge MP Mrs Tamara Isaacs CBE

Ms Emma Kane Mr David Lewis The Rt Hon Shahid Malik Dr Gabriele Matzner-Holzer The Rt Hon David Miliband Rabbi the Baroness Neuberger DBE The Lord Pannick QC Dame Esther Rantzen DBE The Rt Hon Sir Malcolm Rifkind Sir Bernard Rix Mrs Ellen Schmidt

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

SECTION IV

TRUSTEES’ RESPONSIBILITIES

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees, who are also directors of The Wiener Holocaust Library for the purposes of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

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

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and to 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees 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.

As far as each of the Trustees is aware at the time the report is approved:

In preparing this report the directors have taken advantage of small company exemptions.

Received and approved by the Board on 10th November 2023 and signed as authorised on their behalf

by:

Anthony Landes Chair

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

SECTION V

REFERENCE AND ADMINISTRATIVE INFORMATION

Director

Dr Toby Simpson

Company Secretary

Jenny Rofe-Radcliffe

Charity Registration Number

313015

Company Registration Number 00596820

Principal Address and Registered Office

29 Russell Square Bloomsbury London WC1B 5DP

Independent Auditor Haysmacintyre LLP 10 Queen Street Place London EC4R 1AG

Bankers

Lloyds Bank Langham Place branch P O Box 1000 London BX1 1LT

Deutsche Bank AG Königsallee 45/47 40189 Dusseldorf, Germany

Investment Advisors

Rathbone Investment Management 8 Finsbury Circus London, EC2M 7AZ

Website

www.WienerHolocaustLibrary.org

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(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 DECEMBER 2022

----- Start of picture text -----
As restated
2022 2022 2022 2022 2021
Unrestricted Restricted Endowed
funds funds funds Total Total
Notes £ £ £ £ £
Income and endowments from:
Donations and legacies 2 769,032 -- -- 769,032 839,233
Charitable activities 3 22,975 517,201 -- 540,176 465,662
Investments 4 8,925 -- 13,707 22,632 14,941
Other trading activities 7,582 -- -- 7,582 7,908
Total income and endowments 808,515 517,201 13,707 1,339,422 1,327,744
Expenditure on:
Raising funds 5 82,173 -- -- 82,173 75,615
Charitable activities 5 & 6 750,237 679,177 -- 1,429,414 1,151,253
Total expenditure 832,410 679,177 -- 1,511,587 1,226,868
Net gains/(losses) on investments 9 -- (180,698) (129,049) (309,747) 375,557
Net income/(expenditure) (23,895) (342,675) (115,342) (481,912) 476,434
Transfer between funds 14 22,925 75,458 (98,384) -- --
Net movement of funds (970) (267,217) (213,725) (481,912) 476,434
Funds brought forwards as previously stated 4,025,617 1,470,709 2,401,784 7,898,109 7,394,812
Prior year adjustment (300,508) -- -- (300,508) (273,645)
Fund balances brought forward 3,725,108 1,470,709 2,401,784 7,597,601 7,121,167
Fund balances carried forward 3,724,138 1,203,492 2,188,058 7,115,689 7,597,601
----- End of picture text -----

All recognised gains and losses are included in this Statement of Financial Activities. All activities of the charity are classified as continuing. The accompanying notes form an integral part of these financial statements. The Comparative Statement of Financial Activities is in Note 19.

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THE WIENER HOLOCAUST LIBRARY (A company limited by guarantee)

BALANCE SHEET

YEAR ENDED 31 DECEMBER 2022

----- Start of picture text -----
As restated
2022 2021
Notes £ £
Fixed Assets
Tangible fixed assets 8 2,637,119 2,703,889
Listed investments 9 2,895,351 3,245,097
5,532,470 5,948,986
Current Assets
Debtors 10 70,360 166,514
Short-term deposits 11 888,783 656,207
Cash at bank and in hand 687,415 914,933
1,646,558 1,737,655
Creditors due within one year 12 (63,339) (89,041)
Net Current Assets 1,583,219 1,648,614
Net Assets 7,115,689 7,597,601
Endowment funds 13 2,188,058 2,401,784
Restricted funds 13 1,203,492 1,470,709
Unrestricted Funds 13
Designated funds 2,918,429 2,953,239
General funds 805,710 771,869
Total Funds 7,115,689 7,597,601
----- End of picture text -----

The financial statements were approved by the Board and authorised for issue on 10th November 2023 and signed on its behalf by:

Anthony Landes Chair

The accompanying notes form an integral part of these financial statements.

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THE WIENER HOLOCAUST LIBRARY (A company limited by guarantee)

STATEMENT OF CASH FLOWS

YEAR ENDED 31 DECEMBER 2022

----- Start of picture text -----
As restated
2022 2021
Notes £ £
Reconciliation of net income from operating activities
Net income /(expenditure) (481,912) 476,434
(Gains) /losses on investments 309,747 (375,557)
Depreciation and amortisation 66,771 72,906
Dividends and interest income (22,632) (14,941)
(Increase) /decrease in debtors 96,154 (52,109)
(Decrease) /increase in creditors (25,702) 13,629
Net cash provided by operating activities (57,575) 120,362
Cash flows from investing activities
Dividends and interest income 22,632 14,941
Purchase of tangible fixed assets -- (2,954)
(Purchase) / Sale of listed investments 40,000 (900,000)
Net cash provided by /(used in) investing activities 62,632 (888,013)
Increase /(decrease) in cash and equivalents 11 5,058 (767,651)
----- End of picture text -----

----- Start of picture text -----
2022 2022 2022
Analysis of cash and equivalents Start of Year Cash flows End of Year
£ £ £
Short - term investments 656,207 232,576 888,783
Cash in Bank and at hand 914,933 (227,518) 687,415
Total 1,571,140 5,058 1,576,198
----- End of picture text -----

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Note 1 ACCOUNTING POLICIES

The Wiener Holocaust Library is a public benefit entity registered as a charity in England and Wales and a company limited by guarantee without any share capital. It was incorporated on 9 January 1958 (company number: 00596820) and registered as a charity on 20 September 1967 (charity number: 313015).

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

1.1. Basis of accounting

The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice (SORP 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The charity constitutes a public benefit entity as defined by FRS 102.

1.2. Preparation of the accounts on a going concern basis The charity’s ability to meet its day-to-day financial liabilities is dependent on the continuing contributions from its donors. Trustees have given due consideration to the experience in 2022 and in previous years under the Covid-19 pandemic, the financials available to-date of this report, the relevant information on donors and activities for the foreseeable future. Trustees have considered that there are no material uncertainties. This is on basis that contributions will continue. Given that planned activities and the charity’s reserves are reviewed regularly, the Board considers it appropriate to prepare the financial statements on a going concern basis.

1.3. Critical accounting judgements and key sources of estimation uncertainty In the application of the accounting policies, Trustees are required to make judgements, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are relevant and are reviewed on an ongoing basis. Actual results may differ from these estimates. In the view of the Trustees, no significant areas are subject to judgement or estimation and no assumptions concerning the future or estimation affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

1.4. Income recognition

All income, including legacies, is recognised once the charity has entitlement to income, it is probable that the income will be received, and the amount of the income receivable can be measured reliably, and, if applicable, any performance conditions are met. All donations and legacies are allocated between unrestricted and restricted funds depending on conditions imposed by the donors. Ancillary income is recognised as earned as the related services or goods are provided. Investment income is recognised when receivable based on notification by the investment managers.

1.5. Unrestricted funds

Unrestricted funds generated without further specified purpose are available for the general purposes of the charity. These funds include designated funds which the Trustees have, at their discretion, set aside for specific purposes.

1.6. Restricted funds

Restricted funds are to be used for specific purposes as laid down by the donors. Expenditure which meets these criteria is identified and is allocated to the respective funds.

1.7. Expenditure

All expenditure is accounted for on an accruals basis as soon as there is a legal or constructive obligation committing the charity to the expenditure. Expenditure has been included under categories that aggregate all costs relating to that category. Where costs cannot be directly attributed to headings, they have been allocated to activities on a basis consistent with the use of resources. Support costs have been allocated between governance costs, expenditures on premises and other support costs. All expenses incurred are inclusive of irrecoverable VAT.

1.8. Tangible fixed assets and depreciation Expenditures on Tangible Fixed Assets are written off in the year in which the costs are incurred, except for exceptionally large investments on property, plant & equipment, of more than £25,000. Tangible fixed assets are stated at cost less provision for depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life on a straight-line basis, as follows:

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Office & archiving equipment 3 years
Fixtures & fittings 10 years
Leasehold property 99 years
Leasehold improvement 20 years

The depreciation policy of the leasehold was changed in these 2022 Accounts; see Note 9.

The Library is considered to possess heritage assets. Their total cost is not valued in the balance sheet as there is no reliable historical information and a conventional valuation would be overly onerous given the nature and uniqueness of some of the items held and might well prove to be arbitrary.

1.9. Employee benefits

Short-term benefits including holiday pay are recognised as an expense in the period in which the service is received. Termination benefits are accounted for on an accrual basis and in line with FRS 102. The charity contributes to a personal, defined contribution, pension scheme, the assets of which are administered by Scottish Widows and Old Mutual Life. All contributed costs are accounted for based on the duration that the charity benefits from the employees’ services. The charity has no further liability under the scheme.

1.10. Cash and cash equivalents

These include short-term deposits.

1.11. Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the Statement of Financial Activities.

1.12. Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. These are initially recognised at transaction value and subsequently measured at the settlement value.

1.13. Fixed asset investments

Investments are initially recognised at their transaction value and subsequently measured at their fair value at the balance sheet date using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year, based on the notification by the investment managers. The charity does not acquire put options, derivatives, or other complex financial instruments. The main form of financial risk faced by The Library is that of volatility in equity markets and investment markets due to wider economic conditions.

1.14. 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.

1.15. Cash at bank and in hand

Cash at bank and cash in hand includes cash and short-term highly liquid investments with a maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.16. Creditors and provisions

Creditors and provisions 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. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Note 2. DONATIONS & LEGACIES

----- Start of picture text -----
2022 2021
Unrestricted Funds £ £
The Wiener Library Endowment Trust 200,000 200,000
Auswärtiges Amt (German Foreign Office) 121,548 119,616
Association of Jewish Refugees 100,000 100,000
Sigrid Rausing Trust 120,000 100,000
Grants and donations 225,484 289,645
Legacies 2,000 13,103
Government grants -- 16,869
Total 769,032 839,233
----- End of picture text -----

Note 3. CHARITABLE ACTIVITIES

Education & Outreach
Education & outreach
Holocaust Explained
Arts Council designation development
"This Fascist Life" exhibition fund
"Being Human" fund
Exhibition: Fighting Antisemitism (income)
Roma Genocide Conference
Library
Digitisation project (income)
Project "Final Account"
Ukraine Project
Membership fees
Sales & royalties
Research
HGRP joint venture
European Holocaust Research (EHRI) PP
UK Holocaust Memorial Historian
Nazi Medical Trial podcast
ITS fund
ITS roadshow
Total Income on Charitable Activities		 Unrestricted
Restricted
2022
2021
£
£
£
£
--
--
--
828
--
25,450
25,450
39,400
--
8,994
8,994
35,978
--
833
833
6,085
--
--
--
800
--
30,092
30,092
--
--
1,250
1,250
--
--
66,620
66,620
83,091
--
122,599
122,599
195,191
--
27,300
27,300
--
--
15,000
15,000
--
11,966
--
11,966
8,905
11,009
--
11,009
7,426
22,975
164,899
187,874
211,522
--
231
231
39,000
--
9,351
9,351
--
--
17,552
17,552
--
--
4,089
4,089
--
--
216,550
216,550
103,543
--
37,909
37,909
28,505
--
285,682
285,682
171,048
22,975
517,201
540,176
465,662

Comparative analysis of income from Charitable Activities: Note 20.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Note 4. INCOME FROM INVESTMENTS

----- Start of picture text -----
Unrestricted Restricted 2022 2021
£ £ £ £
Bank interest 8,925 -- 8,925 2,291
Dividends (Catalyst fund) -- 13,707 13,707 12,650
8,925 13,707 22,632 14,941
----- End of picture text -----

During 2021, bank interest was unrestricted income, dividends were restricted income.

Note 5. EXPENDITURES: DIRECT, PREMISES, SUPPORT & GOVERNANCE COSTS

----- Start of picture text -----
Education & Premises &
` Fundraising Outreach Library Research Info Tech Support Governance 2022 Total
£ £ £ £ £ £ £ £
Restricted Funds
Staff -- 156,839 115,795 161,634 -- -- -- 434,268
Overhead -- 2,627 2,378 29,678 -- -- -- 34,684
Projects -- 110,646 69,616 29,964 -- -- -- 210,226
-- 270,111 187,790 221,276 -- -- -- 679,177
Unrestricted Funds
Staff 52,759 16,072 198,211 0 -- 140,604 13,427 421,072
Overhead -- -- 3,305 -- 144,480 -- 17,794 165,579
Operations 29,414 16,159 10,008 -- 163,976 22,561 3,640 245,759
82,173 32,231 211,523 0 308,456 163,165 34,861 832,410
Total Costs - 2022 82,173 302,342 399,314 221,276 308,456 163,165 34,861 1,511,587
Total Costs - 2021 75,615 266,599 350,269 187,587 79,388 217,121 23,426 1,200,004
(2021: As restated)
----- End of picture text -----

Staff costs in Unrestricted funds are allocated on employee time. All other costs are actual amounts.

Note 6. STAFF COSTS

----- Start of picture text -----
` 2022 2021
£ £
Gross salaries 715,673 620,527
Employer's NI 67,983 55,461
Employer's pension 60,833 52,746
Temporary staff 10,850 7,534
855,340 736,268
----- End of picture text -----

No member of the Board received any renumeration in 2022 (2021: nil) or reimbursement of travel or other expenses during the year (2021: nil).

One employee received emoluments in the band of £60,000 to £70,000 in the year (2021: one).

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

The average monthly employee headcount during the year was as follows:

----- Start of picture text -----
2022 2021
Number Number
Raising funds 1 1
Charitable activities 21 17
Support & governance 2 2
24 20
----- End of picture text -----

The Senior Management Team (SMT) comprised: Director, Head of Research & Deputy Director, Head of Collections, Senior Curator & Head of Education. Gross compensation in 2022 was as follows:

----- Start of picture text -----
2022 2021
£ £
Gross Gross
Total Gross Compensation 213,843 202,833
----- End of picture text -----

Note 7. NET INCOME FOR THE YEAR

----- Start of picture text -----
2022 2021
£ £
Net income/(expenditure) is stated after charging:
Depreciation of tangible fixed assets 39,907 46,042
Auditor's remuneration (excl VAT - Audit) 16,385 8,365
56,292 54,407
----- End of picture text -----

Note 8. TANGIBLE FIXED ASSETS

----- Start of picture text -----
Leasehold Property
Mech. & Sub-Total
Electrical Computer Fixtures & Plant & 2022
Building Equipment Equipment Fittings Equipment TOTAL
£ £ £ £ £ £
COST
Balance as at 1 January 2,659,583 752,366 94,432 96,286 943,083 3,602,666
Additions -- -- -- -- -- --
At 31 December 2022 2,659,583 752,366 94,432 96,286 943,083 3,602,666
DEPRECIATION
Balance as at 1 January 300,509 413,521 91,764 92,982 598,268 898,777
Charge for the year 26,864 37,618 1,477 812 39,907 66,771
At 31 December 2022 327,373 451,140 93,241 93,794 638,175 965,548
Net Book Value
As at 31 December 2022 2,332,210 301,226 1,190 2,492 304,909 2,637,119
As at 31 December 2021 2,359,074 338,845 2,667 3,303 344,815 2,703,889
(2021: As restated)
----- End of picture text -----

Note 9. PRIOR PERIOD ADJUSTMENT – DEPRECIATION OF FIXED ASSETS

The Library acquired an interest in the building at 29 Russell Square on a 99 year lease commencing on 27[th] October 2010. The trustees adopted an accounting policy not to depreciate the asset until the lease has less than 50 years to run because there was an expectation at the time that the landlord’s intention was to extend the lease and therefore its ultimate term was uncertain. A more thorough review in 2022 has indicated that there is no guarantee that a future agreement will be reached with the landlord to extend the lease past its 99 years and therefore it was inappropriate not to depreciate the asset over the legal lease term. Consequently, there are prior year adjustments with the following effects:

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

This policy change does not have any bearing on the going concern standing of the Library.

Note 10. FIXED ASSET INVESTMENTS

----- Start of picture text -----
2022 2021
Listed investments £ £
Market value as at 1 January 3,245,097 1,969,540
Additions at cost -- 900,000
Reductions (40,000) --
Unrealised (losses)/gains (309,747) 375,557
Market value as at 31 December 2,895,351 3,245,097
Historical cost as at 31 December 2,435,000 2,475,000
----- End of picture text -----

Of the investments, £2,083,601 (2021: £2,212,650) are in open-ended investment companies managed by Troy Asset Management and £811,750 (2021: £1,032,448) are in open-ended investment companies managed by various managers, selected under a discretionary investment mandate by Rathbones charity team. Capital losses of £309,747 were for £129,049 (2021: gains of £243,109) from funds managed by Troy and of £180,698 (2021: gains of £132,448) from funds managed by Rathbones.

Note 11. DEBTORS

----- Start of picture text -----
2022 2021
£ £
Trade debtors 10,929 3,901
Other debtors 22,948 2,508
Accrued income 1,782 128,443
Prepayments 34,701 31,662
70,360 166,514
----- End of picture text -----

Other debtors in 2022 included accrued interest from Flagstone of £6,336 (2021: nil). Accrued income in 2021 consisted of a grant from the AJR (39%), and a grant from the Foreign & Commonwealth Development Office (61%).

Note 12. SHORT-TERM DEPOSITS

Of the £888,783 in Short-term deposits, £798,210 (2021: 565,634) were deposits at various UK, FSCS protected banks through the Flagstone Investment Management deposit platform. The remainder was in a Holding Account at Flagstone.

Note 13. CREDITORS

----- Start of picture text -----
2022 2021
£ £
Taxes and social security -- --
Other creditors 41,676 37,724
Accruals & deferred income 21,663 51,317
63,339 89,041
----- End of picture text -----

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Note 14. STATEMENT OF FUNDS

----- Start of picture text -----
At 1 January 31 December
2022 Income Expenditure Gains/Losses Transfers 2022
Catalyst: Endowment/Toni Schiff 2,401,784 13,707 -- (129,049) (98,384) 2,188,058
TOTAL ENDOWED FUNDS 2,401,784 13,707 -- (129,049) (98,384) 2,188,058
Hecht Legacy 1,046,027 -- -- (180,698) (89,869) 775,461
Education & Outreach
Exhibition: "This Fascist Life" -- 833 (1,209) -- 376 --
Exhibition: Fighting Antisemitism -- 30,092 (31,234) -- 1,142 --
Holocaust Education & Holocaus 39,929 25,450 (43,192) -- -- 22,187
Hecht E&O -- -- (38,821) -- 38,821 --
Hecht Networking -- -- (252) -- 252 --
Roma Genocide Conference -- 1,250 -- -- -- 1,250
Arts Council Designation Develop 1,802 8,994 (17,490) -- 6,694 --
Wolverhampton T Schiff Beyond 29,572 -- (29,572) -- -- --
Birkbeck Beyond Camps 12,799 -- (14,688) -- 1,889 --
Fraenkel Prize 29,771 -- (5,370) -- -- 24,401
Ann Hirshfield Australian Jewish 4,545 -- -- -- -- 4,545
Wellcome Science & Suffering 2,361 -- -- -- -- 2,361
Library
Hecht Collections -- -- (30,126) -- 30,126 --
Digital Transformation Project 155,000 122,599 (137,978) -- 1,337 140,958
Project "Final Account" -- 27,300 (12,250) -- -- 15,050
Ukraine Projects -- 15,000 -- -- -- 15,000
Toni Schiff Digitisation 3,715 -- (2,378) -- (1,337) --
B’nai B’rith Leo Baeck Lodge 31,026 -- -- -- -- 31,026
The Book Appeal 5,121 -- (5,058) -- (64) --
Research
Hecht Research -- -- (15,303) -- 15,303 --
HRGP Joint Venture -- 231 (5,660) -- 5,429 --
EHRI-PP 50,978 9,351 (20,405) -- -- 39,925
EHRI III 31,786 -- (11,839) -- -- 19,947
UK Holocaust Memorial -- 17,552 (17,552) -- -- --
Nazi Medical Trial Podcast -- 4,089 -- -- -- 4,089
ITS -- 216,550 (115,086) -- (22,925) 78,539
ITS Roadshow 26,276 37,909 (35,431) -- -- 28,754
TOTAL RESTRICTED FUNDS 1,470,709 517,201 (679,177) (180,698) 75,458 1,203,492
Leasehold Property 2,359,074 -- (26,864) -- -- 2,332,210
Plant & Equipment 344,815 -- (39,907) -- -- 304,909
Property Maintenance 74,350 -- -- -- 20,000 94,350
Digitalisation 100,000 -- -- -- -- 100,000
Infrastructure Repair -- -- -- -- 20,000 20,000
Redevelopment & Refit 75,000 -- (8,040) -- -- 66,960
TOTAL DESIGNATED FUNDS 2,953,239 -- (74,811) -- 40,000 2,918,429
GENERAL FUNDS 771,869 808,515 (757,599) -- (17,075) 805,710
TOTAL UNRESTRICTED FUNDS 3,725,108 808,515 (832,410) -- 22,925 3,724,138
TOTAL FUNDS 7,597,601 1,339,422 (1,511,587) (309,747) -- 7,115,689
----- End of picture text -----

Comparative Statement of Funds: Note 21.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Note 14.1 ENDOWED FUNDS

‘Catalyst T. Schiff Endowment’ was created by donations from the Toni Schiff Memorial Fund and others, matched by the Heritage Lottery Fund. Catalyst perpetuates The Library’s learning, engagement, and community programmes, primarily through an Eduction & Outreach Fund as well as by supporting Exhibition Funds. The fund is “expendable” in that income and capital are applied for these purposes, subject to Trustee approval and to a fund life extending to 2037.

Note 14.2 RESTRICTED FUNDS

‘Hecht Legacy’ is part of a £1,000,000 grant from the Ernest Hecht Charitable Foundation. It is intended for the grant to be spent over a period of ten years. This fund supports exhibitions, events, publications, and networking to further the outreach of The Library. It also supports extending The Library’s collection as well as Research.

Education and outreach funds

‘Holocaust Explained Fund’ provided by the Tolkien Trust, the Pauline and Harold Berman Charitable Trust, the Pears Foundation, and other donors supports Holocaust education and the Holocaust Explained website.

‘Arts Council Designation Development Fund’ enhanced access to the Jewish refugee family papers, including redevelopment of the online resource ‘Refugee Family Papers: An Interactive Map.’

‘Beyond Camps Fund’ received from Birkbeck, University of London, ran the Beyond Camps conference and website. ‘Wolverhampton (University) Toni Schiff Beyond Camps Fund’ contributed to the Beyond Camps conference and other outreach. ‘Fraenkel Prize Fund’ is a legacy from the Estate of Ernst Fraenkel.

Other Education & Outreach funds include the Ann Hirshfield Australian Jewish History Fund’ and the ‘Wellcome Science & Suffering Fund’, which did not have activity during the year.

Library Funds

‘Digital Transformation Fund’ was established in 2020 through generous grants from two donors. In 2022 the fund was supplemented by other donors and with proceeds from the Big Give Campaign. The fund is the founding endowment for a five-year programme to digitise substantial parts of The Library’s collections.

‘Project Final Account” is a new collection of rare testimonies taken from elderly Germans who either participated or witnessed horrors of the Holocaust.

‘B’nai B’rith Leo Baeck Lodge London Fund is to assist with the preservation, cataloguing, and digitisation of the archive of the Lodge, for educational and commemorative use.

Research Funds

‘European Holocaust Research Infrastructure (EHRI) Fund’ receives funding from the European Union for a PanEuropean research approach to Holocaust archives. EHRI-III Fund deepens integration of the archives and research. The EHRI-PP Fund finances a preparatory phase aimed at bringing EHRI to the level of financial, legal, and technical maturity required for implementation as a permanent European research infrastructure.

‘International Tracing Service (ITS) Fund’ supports the management, research, hardware and software of this service retrieving information from the Bad Arolson database about the fate of victims of the Holocaust. The Foreign & Commonwealth Office and the Department for Communities and Local Government (DCLG) committed at the outset to provide funding. The respective Government departments committed additional funding in the 2022 Spending Rounds.

Note 14.2. Designated Funds

The designated Leasehold Property Fund and Other Fixed Assets Fund represent the net book value of tangible fixed assets held. More details are provided in the tangible fixed assets schedule and note of the accounts.

The designated Property Maintenance Fund is used to pay for the periodic maintenance of the building, which is required under the lease. Trustees designated £20,000 (2021: £20,000) towards the next renovation expected in 2024.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

The designated Digitisation Fund is The Library’s contribution to the digitisation – scanning of papers, photographs, etc.- of the collections.

The designated Redevelopment and Refit Fund was established by Trustees in 2021. It is seed funding for an anticipated expansion of the premises over a five-year horizon. Feasibility studies are in progress.

The Infrastructure Repair fund was established during 2022 in order to build up a reserve for the replacement of roof of the building, anticipated in 2027 at a cost of £100,000. A transfer of £20,000 (2021: nil) was made from General Funds.

Note 14.3. Transfers between Funds

Transfers between Unrestricted funds are made to create and maintain designated funds at the discretion of Trustees. Transfers from the Endowed Funds to Restricted funds, approved by Trustees are primarily to fund Education and Outreach activities and exhibitions. During the year, a transfer was made from the ITS Restricted fund to Unrestricted funds of £22,925 (2021: £22,925 transfer from Unrestricted funds to ITS ) to repay the deficit cover of the previous year.

Note 15. NET ASSETS BY FUND

----- Start of picture text -----
Restricted Designated Endowed General Total
Funds Funds Funds Funds Funds
Balances at 31 December, 2022 £ £ £ £ £
Fixed Assets -- 2,637,119 -- -- 2,637,119
Fixed Asset Investments 811,750 -- 2,083,601 -- 2,895,351
Current Assets 410,621 281,310 104,457 850,169 1,646,558
Current Liabilities (18,879) -- -- (44,460) (63,339)
Net Assets 1,203,492 2,918,429 2,188,058 805,710 7,115,689
----- End of picture text -----

Comparative Net Assets by Fund: Note 22.

Note 16. RELATED PARTY TRANSACTIONS AND CONNECTED CHARITIES

During the year donations totalling £8,437 (2021: £4,250) were received from six (2021: two) members of the Board. Frank Harding is a Trustee of the Association of Jewish Refugees (AJR) which donated to The Library a grant of £100,000 in the year (2021: £100,000).

Note 17. COMPANY LIMITED BY GUARANTEE

The liability of each member is £1, in the event of the liquidation of the charitable company.

Note 1 8. TAXATION

The Wiener Holocaust Library is a registered charity and is not liable to direct taxation on its present activities.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Note 19. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES – 2021 (as restated).

----- Start of picture text -----
2021 2021 2021 2021 2020
Unrestricted Restricted Endowed
funds funds funds Total Total
£ £ £ £ £
Income and endowments from:
Donations and legacies 839,233 -- -- 839,233 762,849
Charitable activities 16,331 449,330 -- 465,662 1,230,709
Investments 2,291 -- 12,650 14,941 11,043
Other trading activities 7,908 -- -- 7,908 2,737
Total income and endowments 865,764 449,330 12,650 1,327,744 2,007,338
Expenditure on:
Raising funds 75,615 -- -- 75,615 66,547
Charitable activities 632,663 518,590 -- 1,151,253 956,171
Total expenditure 708,278 518,590 -- 1,226,868 1,022,718
Net gains/(losses) on investments -- 132,448 243,109 375,557 52,449
Net income/(expenditure) 157,486 63,189 255,759 476,434 1,037,069
Transfer between funds (22,925) 126,922 (103,996) -- --
Net movement of funds 134,560 190,111 151,763 476,434 1,037,069
Fund balances brought forward 3,590,548 1,280,598 2,250,021 7,121,167 6,084,098
Fund balances carried forward 3,725,108 1,470,709 2,401,784 7,597,601 7,121,167
----- End of picture text -----

Note 20. COMPARATIVE ANALYSIS OF INCOME FROM CHARITABLE ACTIVITIES – 2021

----- Start of picture text -----
Unrestricted Restricted 2021
£ £ £
Eduction & Outreach
Education & outreach -- 828 828
Holocaust Explained -- 39,400 39,400
Arts Council designation development -- 35,978 35,978
"This Fascist Life" exhibition fund -- 6,085 6,085
"Being Human" fund -- 800 800
-- 83,091 83,091
Library
Digitisation project (income) -- 195,191 195,191
Membership fees 8,905 -- 8,905
Sales & royalties 7,426 -- 7,426
16,331 195,191 211,522
Research
HGRP joint venture -- 39,000 39,000
ITS fund -- 103,543 103,543
ITS roadshow -- 28,505 28,505
-- 171,048 171,048
Total Income on Charitable Activities 16,331 449,330 465,662
----- End of picture text -----

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Note 21. COMPARATIVE STATEMENT OF FUNDS – 2021 (As restated)

----- Start of picture text -----
At 1 January 31 December
2021 Income Expenditure Capital Gains Transfers 2021
Catalyst: Endowment/Toni Schiff 2,250,021 12,650 -- 243,109 (103,996) 2,401,784
TOTAL ENDOWED FUNDS 2,250,021 12,650 -- 243,109 (103,996) 2,401,784
Hecht Legacy 971,243 -- -- 132,448 (57,663) 1,046,027
Education & Outreach
Education & Outreach -- 828 (99,134) -- 98,305 --
Exhibition: "This Fascist Life" -- 6,085 (7,581) -- 1,496 --
"Being Human" -- 800 -- -- (800) --
Special Education Projects Fund 2,904 -- -- -- (2,904) --
Holocaust Education & Holocaus 39,786 39,400 (39,258) -- -- 39,929
Arts Council Designation Develop 29,361 35,978 (63,537) -- -- 1,802
Wolverhampton T Schiff Beyond 29,572 -- -- -- -- 29,572
Birkbeck Beyond Camps 12,799 -- -- -- -- 12,799
Fraenkel Prize 34,771 -- (5,000) -- -- 29,771
Ann Hirshfield Australian Jewish 4,545 -- -- -- -- 4,545
Wellcome Science & Suffering 2,361 -- -- -- -- 2,361
Library
Hecht Collections -- -- (31,418) -- 31,418 --
Digital Transformation Project -- 195,191 (40,196) -- 5 155,000
-- --
Toni Schiff Digitisation 38,104 (33,915) (474) 3,715
B’nai B’rith Leo Baeck Lodge 39,485 -- (8,459) -- -- 31,026
Foyles Website Redesign & Digita 810 -- (805) -- (5) --
Archives Testbed (474) -- -- -- 474 --
The Book Appeal 7,767 -- (2,645) -- -- 5,121
Research
HRGP Joint Venture -- 39,000 (65,246) -- 26,246 --
EHRI-PP 59,738 -- (8,760) -- -- 50,978
EHRI III 33,261 -- (1,475) -- -- 31,786
ITS (25,611) 103,543 (100,857) -- 22,925 --
ITS Roadshow 175 28,505 (2,405) -- -- 26,276
TOTAL RESTRICTED FUNDS 1,280,598 449,330 (518,590) 132,448 126,922 1,470,709
Leasehold Property 2,385,938 -- (26,864) -- -- 2,359,074
Plant & Equipment 387,904 -- (43,089) -- -- 344,815
-- --
Property Maintenance 65,000 (10,650) 20,000 74,350
Digitalisation 100,000 -- -- -- -- 100,000
Redevelopment & Refit -- -- -- -- 75,000 75,000
TOTAL DESIGNATED FUNDS 2,938,842 -- (80,603) -- 95,000 2,953,239
GENERAL FUNDS 651,706 865,764 (627,675) -- (117,925) 771,869
TOTAL UNRESTRICTED FUNDS 3,590,548 865,764 (708,278) -- (22,925) 3,725,108
TOTAL FUNDS 7,121,167 1,327,744 (1,226,868) 375,557 -- 7,597,601
----- End of picture text -----

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

THE WIENER HOLOCAUST LIBRARY

Note 22. COMPARATIVE NET ASSETS BY FUNDS – 2021 (As restated)

Balances at 31 December, 2021
Fixed Assets
Fixed Asset Investments
Current Assets
Current Liabilities		 Restricted
Designated
Endowed
General
Total
Funds
Funds
Funds
Funds
Funds
£
£
£
£
£
--
2,703,889
--
--
2,703,889
1,032,448
--
2,212,650
--
3,245,098
466,892
249,350
189,134
832,279
1,737,654
(28,631)
--
--
(60,410)
(89,041)
1,470,709
2,953,239
2,401,784
771,869
7,597,601

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THE WIENER HOLOCAUST LIBRARY

AUDITORS’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

OPINION TO THE TRUSTEES OF THE WIENER HOLOCAUST LIBARY

We have audited the financial statements of The Wiener Holocaust Library for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows, 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 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:

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 the financial statements section of our report. We are independent of the charity 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 trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report. 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.

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:

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THE WIENER HOLOCAUST LIBRARY

AUDITORS’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report, which incorporates the directors’ report.

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

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 9, 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 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 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 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 the aggregate, they could reasonably be expected to influence the economic decisions of users taken based on these financial statements.

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 these respects. The extent to which our procedures can detect irregularities, including fraud, is detailed below:

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to Charity Law, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and Charities SORP.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to recognition of revenue and in certain management accounting estimates and judgements. Audit procedures performed by the engagement team included:

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THE WIENER HOLOCAUST LIBRARY

AUDITORS’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transaction reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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 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 anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

10 Queen Street Place London EC4R 1AG

Adam Halsey (Senior Statutory Auditor) For and on behalf of Haysmacintyre LLP, Statutory Auditors 10th November 2023

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