**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: 

- In September 2022, we held an exhibition of our family papers ‘ _There was a time…’: Jewish Family Photographs Before 1939’_ , which highlighted the portraits, snapshots and albums related to Jewish refugees from Nazi Europe. These images have been overlooked as historical or artistic objects. The exhibit asked visitors to reconsider their significance. In addition, this remarkable exhibition caught the eye of UNESCO and was restaged at their headquarters in Paris for Holocaust Memorial Day 2023. 

- In November 2022, in concert with Gresham College, we hosted Professor Marion Kaplan to give the Alfred Wiener Holocaust Memorial Lecture ‘ _Refugees in Portugal: World War II and Beyond._ ’ The talk delved into the history of Portugal as a sanctuary for refugees during World War II and its implications in the modern context, offering valuable insights into the intersection of history, geopolitics, and human rights. 

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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**THE WIENER HOLOCAUST LIBRARY** 

**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: 

- To serve scholars, professional researchers, the media, and the public as a library of record. 

- To engage people of all ages and backgrounds in understanding the Holocaust and its historical context through an active educational programme. 

- To be a living memorial to the evils of the past by ensuring that our wealth of materials is put at the service of the future. 

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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## **THE WIENER HOLOCAUST LIBRARY** 

## **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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## **THE WIENER HOLOCAUST LIBRARY** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** 


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


## **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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## **THE WIENER HOLOCAUST LIBRARY** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** 

## _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: 

- Digitise substantial parts of the collection over a five-year horizon. 

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**THE WIENER HOLOCAUST LIBRARY** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** 

- Maintain, refurbish, and refit the premises. 

- Assure the long-term continuation of The Library. 

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** 

- Material downturn in donations. The Library is dependent for substantially all its income on donations from non-state foundations, charities, other grant-giving entities, Government departments, and individuals. The Board believes that the diversity of funding sources being accessed, coupled with The Library’s General Reserves position, gives sufficient confidence that this risk is mitigated. 

- Downturn in invested funds. The circa £2.9 million in invested funds are exposed to public market risks. These funds are invested in line with our conservative strategies. As foreseeable annual drawdowns are minor portions of the invested capital, the Board considers these risks to be sufficiently mitigated. 

## **Non-financial risks & mitigation** 

- Security. As a Library of record on the Holocaust, on genocide, and with an increasingly high public profile, the risk of threats to The Library’s staff, physical and digital security are recognised and actively managed. The charity works closely with the Community Security Trust who on an ongoing basis review The Library’s security requirements and advise accordingly, including providing staff with requisite training. Entrance security has recently been strengthened and The Library was again accredited with Cyber Essentials, the yardstick for digital security. The Board believes it has taken all reasonable steps to mitigate these risks. 

- Damage to collections. The Library’s unique archives form the backbone and essence of its work and mission. Protocols for storage and handling are in place, as well as a disaster recovery plan and insurance. The Library’s digitisation strategy is key to preserving the collection for future generations and adopts best practice. 

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## **THE WIENER HOLOCAUST LIBRARY** 

## **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: 

- Core funders, including the Wiener Library Endowment Trust, gave circa 42% (2021: 41%). 

- Donations and legacies from individuals, associated family charitable trusts and Friends amounted to circa 27% (2021: 38%). 

- Grant-giving institutions such as other charitable foundations, corporations or associated entities, NGOs such as the European Holocaust Research Infrastructure, publicly funded entities such as the Arts Council, gave circa 14% (2021: 13%) 

- U.K. Government, through the Foreign & Commonwealth Development Office and the Department for Community and Local Government, contributed circa 17% (2021: 8%). 

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: 

- Unrestricted income which pays for on-going operations and activities of The Library, including staff (most of senior management, all Library personnel, support, fundraising, governance), substantially all overhead and all costs on premises. 

- Restricted projects to support The Library’s five-year digitisation programme, but also long-term support for _Holocaust Explained_ and continuing government funding for the _International Tracing Service_ . 

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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## **THE WIENER HOLOCAUST LIBRARY** 

## **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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## **THE WIENER HOLOCAUST LIBRARY** 

**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: 

- Select suitable accounting policies and then apply them consistently. 

- Observe the methods and principles in the Charities SORP. 

- Make judgments and accounting estimates that are reasonable and prudent. 

- State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. 

- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

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: 

- There is no relevant audit information of which the charitable company's auditors are unaware; and 

- • The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

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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## **THE WIENER HOLOCAUST LIBRARY** 

**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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## **THE WIENER HOLOCAUST LIBRARY** 

## **(A company limited by guarantee)** 

## **STATEMENT OF FINANCIAL ACTIVITIES** 

## **YEAR ENDED 31 DECEMBER 2022** 


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


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. 

12 



**THE WIENER HOLOCAUST LIBRARY (A company limited by guarantee)** 

## **BALANCE SHEET** 

## **YEAR ENDED 31 DECEMBER 2022** 


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


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. 

13 



**THE WIENER HOLOCAUST LIBRARY (A company limited by guarantee)** 

## **STATEMENT OF CASH FLOWS** 

## **YEAR ENDED 31 DECEMBER 2022** 


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



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


14 



**THE WIENER HOLOCAUST LIBRARY** 

## **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: 

15 



**THE WIENER HOLOCAUST LIBRARY** 

## **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. 

16 



## **THE WIENER HOLOCAUST LIBRARY** 

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

## **Note 2. DONATIONS & LEGACIES** 


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


## **Note 3. CHARITABLE ACTIVITIES** 

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



Comparative analysis of income from Charitable Activities: Note 20. 

17 



## **THE WIENER HOLOCAUST LIBRARY** 

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

## **Note 4.  INCOME FROM INVESTMENTS** 


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


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

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


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


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

## **Note 6.  STAFF COSTS** 


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


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). 

18 



## **THE WIENER HOLOCAUST LIBRARY** 

## **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 -----**<br>
2022 2021<br>Number Number<br>Raising funds 1  1<br>Charitable activities 21  17<br>Support & governance 2  2<br>24  20<br>**----- End of picture text -----**<br>


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 -----**<br>
2022 2021<br>£ £<br>Gross Gross<br>Total Gross Compensation 213,843  202,833<br>**----- End of picture text -----**<br>


## **Note 7.  NET INCOME FOR THE YEAR** 


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


## **Note 8.  TANGIBLE FIXED ASSETS** 


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


## **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: 

19 



**THE WIENER HOLOCAUST LIBRARY** 

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

- The annual depreciation charge since inception amounts to £26,864. 

- The opening reserve for depreciation on 1 January 2021 was adjusted to £273,645. 

- The carrying value of the leasehold property was adjusted commensurately. 

- The depreciation charge of £26,864 was applied to the 2021 accounts and the surplus reduced commensurately. 

- The charge for the 2022 year amounted to £26,684. 

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


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


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


20 



**THE WIENER HOLOCAUST LIBRARY** 

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

## **Note 14.  STATEMENT OF FUNDS** 


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


Comparative Statement of Funds: Note 21. 

21 



**THE WIENER HOLOCAUST LIBRARY** 

## **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. 

22 



## **THE WIENER HOLOCAUST LIBRARY** 

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


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. 

23 



**THE WIENER HOLOCAUST LIBRARY** 

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


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


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


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**THE WIENER HOLOCAUST LIBRARY** 

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


25 



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



26 



## **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: 

- give a true and fair view of the state of the charitable company’s affairs as at 31 December 2022 and of the charitable company’s net movement in funds, including the income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **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: 

- the information given in the Trustees’ Report (which includes the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the directors’ report included within the Trustees’ Report have been prepared in accordance with applicable legal requirements. 

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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: 

- adequate accounting records have not been kept by the charitable company; or 

- the charitable company financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees’ remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report. 

## **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: 

- Inspecting minutes of Trustees’ meetings; 

- Reviewing calculations for depreciation including reviewing estimated useful economic lives; 

- Reviewing allocations and disclosures relating to restricted funds; 

- Inspecting correspondence with regulators and tax authorities; 

- Discussions with management including consideration of known or suspected instances of noncompliance with laws and regulation and fraud; 

- Evaluating management’s controls designed to prevent and detect irregularities; 

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## **THE WIENER HOLOCAUST LIBRARY** 

**AUDITORS’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** 

- Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and 

- Challenging assumptions and judgements made by management in their critical accounting estimates. 

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 

29