Anglo-lsrael Association Report and Financidl Statements Year Ended 31 December 2024
Anglo-lsraol Association Annual report and financial statements for the year ended 31 December 2024 Contents Pages Charity Information Report of the Trustee Report of the Independent Examiner Statement of financial activities Balance sheet 8- 12 Notes forming part of the financial statements
Anglo-lsrael Association Annual report and financial statements for the year ended 31 December 2024 Trustee Anglo Israel Association Corporate Trustee (Company number 09898380) Directors and Members of Anglo Israel Association Corporate Trustee Mr R. Bolchover Mr D. Kessler Mrs D. Belh (Honorary Treasurer) Professor D. Ho¢hhauser Mr A. Reeve Registered Offic8 of Corporate Trustee and Anglo Israel Association Principal Office 28 Church Road, Stanmore, Middlesex. HA7 4XR Bankers Lloyds Bank Investment Advisers J M Finn & Co, 4 Coleman Street, London EC2R STA Charity Reglstration Number 313523
Anglo-lsrael As >ociation Report of the Trustee for the year ended 311)ecember 2024 The Trustee presents its report and the financial statements forthe year ended 31 December 2024. Structure, Governance and Management The Association is a charitable unincorporated association 'nd is managed and administered by Anglo Israel Association Corporate Trustee, as Corporate Tr:J<*ee, pursuant to the Charity Commission Scheme dated 26 July 2016. Ils Board currently has five 'irK Ctors, known as directors, all ofwhom are members. Aims, objectives and management The Association's primary purpose is to educate about Isr 'el to promote a wider understanding of Israel in the UK and to encourage exchanges between both , ountries. The Association is an independent voluntary and non-political body which, since 1949, has enjoyed the active support of people of different faiths from across the pol lical spectrum. Since its foundation in 1949, the Association continues to play an active and energetic role in promoting a better understanding of Israel throughout the UK. Thanks 10 some loyal and generous donors and energetic supporters, we make a disproportionate impact around the country through our activities which include organising high-level colloquia, symposia, lectures, and meetings, as well a5 awarding scholarships and grants to encourage deeper relationships beeen Israel and the UK. For seven decades, the Association has sought to portray the rich and dynamic development of the State of Israel and the dramatic growth and diversification both of its democratic traditions and of ils social, religious, economic and cultural life as a balance, if not an antidote, to the incessant focus on certain twists and turns of the politics of the Middle East and the slow progress of the peace process. As an independent, non-political, educational charity we draw support and membership from a wide cross section of British society whose different political and religious perspectives come together in a keen desire to promote a wider and better understanding of Israel in the UK, to encourage physical and Intellectual exchanges between both countries at every level and generally to support activities which foster goodwlll between the people of Dur two countries.
Anglo-lsrael Association Report of the Trustee for the year ended 31 December 2024 Review of activitles - What we do: The Trustee, with the involvement of the members of the Association's erstwhile advisory committee, continued its extensive evaluation of the Association's structure and delivery. In this assessment, the Association obtained input from two consultancy firms and specialist charity legal advisors. A firm consensus was reached, and the Association is implementing these changes, whlch hold the promise of greater effectiveness in the coming years.
Anglo.Israel Associatlon Report of the Trustee for the year ended 31 December 2024 Trustee's responslbllltlos Law applicable to Charities in England and Wales requires the Trustee lo prepare financial statements for the financial year which give a true and fair view of the Association's financial activities during the year and of its financial position at the end of the year (unless the Association is enlilled lo prepare accounts on the alternative receipts and payment basis). In preparing financial 51atemenls giving a true and fair view, the Trustee should follow best practice and: Select suitable accounting policies and Ihen apply them consistently; make judgements and estimates that are reasonable and prudent; state whether applicable accountlng standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statemonts. and prepare the financlal slatements on the going concern basis unless it is inappropriate to presume that the Associalion will continue in operation. The Trustee is responsible forkeeping accounting records which disclose with reasonable accuracy the financlal position of the Association and which enable it to ascertain the finarscial position of the Associatlon and which enable it to ensure that the flnancial slatemenls comply with applicable law. It is also responslble for safeguarding th8 assets ofthe Association and hence fortaklng reasonable steps for the prevention and deteciion of fraud and other irregul8rilies Resorves pollcy The current level of free reserves, belng the unrestrlcted funds Is £Nil (2023.. £Nil). Having regard to future development, the Trustee has sel a target level of free reserves of approximately 6 monlhs, expenditure. This will enable the Association lo continue ils current activities and allow it to respond quickly in the evenl of an emergency. 11 intends to continue its fundraising efforts with a vlew to maintaining the target level so that the Association will be well placed to respond to ils futur8 needs. The reserves policy is reviewed annually. Public Beneflt The principal activities of the Associalion during the year continued to be to educate about Israel to promote a wider understandlng of Israel in the UK and to encourage exchanges between both countries. The Trustee is aware of the Charity Commission guidance on public benefit reporting as set out in section 17 of th8 Charities Act 2011. The Trustee believes that the Assoclation achl8V8s a public benefit by providing these servlces as detailed elsewhere In this report. Signed on behalf of Ihe trustee, Anglo Israel Association Corporate Trustee, on Rlchard Bolchover Doe Bath Directors of Anglo Israel Assoclatlon Corporato Trustse
Independent examiner's report to the trustees of Anglo-lsrael Association I report to the trustees on my examination of the accounts of the Anglo-lsrael Association for the year ended 31 December 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (Ihe Act,). I report In respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145151(bl of the Act. Independent examiner's statement I have completed my examination. I confim ihat no material matters have come to my attention in connection wilh the examination giving me ¢ ause to believe that in any material respect-. accounting records were not kept in respect of the Trust as required by section 130 of the Act,. or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 2910412025 Anthony Epton BA FCA CTA FCIE Goldwins Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG
Anglo-lsrael Association ststem8nt of Financial Activities for the Year Ended 31 December 2024 Note Unrestricted fund Pinto designatèd fund MCA general permanent endowment fund Restrictgd fund Total 2024 Total 2023 Income: Donations Legacy Subscriptions Other income Income from ¢haritable activities". Events HMRC JRS Grant Inveslmenl income 21,750 411 411 560 2,786 7,019 49.614 S6,633 47.084 Total income 411 7,019 49,614 57.044 72,180 Expenditure: Investment Managemenl fées AIA Colloquium Meelings, Briefings & Conferences Events Promoting education about Israel Accountancy Bank char9es Fees payable to the Independent Examiner Professional fees 7,885 7,885 7.713 45,793 1,000 353 45.793 1,000 353 111,902 1,000 710 3,000 38,997 3.000 38,997 3,348 153,251 Total expendlture 89,143 7,885 97,028 277,924 Net Ilossesll profit on investments Net lexpendSturellin¢ome 53,069 94,798 53,069 13,085 20,407 1185.337) 188,7321 7.019 Transfers between funds 56,634 16,733 173.3671 Net movement in funds 132,098 23.752 21.431 13.085 185,337 Total funds brought foTward 106,108 820,893 614,369 1.541.370 1,726.707 Total funds carried fonvard 74,010 844,645 635,800 1,554.455 1,541.370 All income and expenditure derive from continuing activities. The statement of financial activities includes all gains and losses recognised during the year. The notes form part of these financial statements.
Anglo-lsrael Assoclation Balance Sheet at 31 December 2024 Restatod 2023 Noto 2024 R68tated 2023 2024 Fixed assats Tangible assets Investments State of Israel Bond 1,340,445 140,000 1,295,262 140.000 1,480,445 1,435,262 Current ass6t8 Debtors Cash al bank and In hand 8,258 70,989 8,997 105,288 Credltors: amounts falllng due wlthln ono year 79.247 114,285 (5,237) (8.177) Net current assets 74,010 108,108 Total assets lèss current liabllltles 1,554,455 1,541.370 Funds MCA general permanent endowment fund Plnto designated fund Unreslrlcted fund 635,800 844,645 74,010 614,369 820,893 106.108 1.554,455 1.541,370 The financial statements were approved and authorlsed for issue by the Trustee on Slgned on behalf of the trusiee, Anglo Israel Association Corporate Tnjstee Rlchard Bolchover D89 Both Dlrectors of Anglo Israel A¥soGlatlon Corporate Trust80 The notes form part of these financial statements.
Anglo-lsrael Association Notes forming Part of the Financial Statements for the Year Ended 31 December 2024 Accounting policies (a) General information and basis of preparation Anglo-lsrael Association is an unincorporated charity governed by its Constitution and operating within the United Kingdom. The nature of the charity's operation and principal activities are to educate about Israel to promote a wider understanding of Israel in the UK and to encourage exchanges between both countrtes. The charity Gonstitutes a public benefit entity as defined by FR 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice. The financial statements have been prepared to give a'true and fair" viewand have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a "true and fair view,. This departure has involved following the Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102), The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency ofthe charity. The significant accounting policies applied in the preparation of these financial ststements are set out below. The policies have been consistently applied to all years presented unless otherwise stated. (b) Donations and other cha17table income These are included in the Statement of Financial Activities when receivable together with any tax recoverable in respect thereof. Residuary legacies are recognised as receivable once probate has been granted, provided sufficient information has been received to enable valuation of the Charity's entitlement. Amounts receivable are included at the amounts received following the Balance Sheet date to reflect the uncertainty inherent in the administration of estales. (c) Tangible fixed assets and depreciation Tangible fixed assets are staled at cost less depreciation. Depreciation is provided at rates calculated to write- off the cost less estimated residual value of each asset over its expected useful life, as follows.. Computer equipment Office equipment - 33.330 - 20¥0 (d) Investments All fixed asset investments are recorded at market value. (e) Operating leases Annual rentals are Charged to the profit and loss account on a straight-line basis over the term of the lease.
Anglo-lsrael Association Notes Forming Part of the Financial Statements for the Year Ended 31 December 2024 (Continued) (Q Restncted funds Donations received towards the Costs of specific charitable programmes. (g) Debtors and Greditors receivable/payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. (h) Foreign Gurrency Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate. (i) Going Goncem The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted inGome and expenditure are suffi'cient with the level of reserves for the charity to be able to continue as a going concern. Investment income 2024 2023 MCA general permanent endowment fund (JM FINN Portfolio) Pinto designated fund IJM FINN Portfolio) Pinto designated fund (Other} 23,533 26,081 7,019 19,182 21,258 6,644 Total 56,633 47,084
Anglo-lsrael Association Notes Forming Part of the Financial Statements for the Year Ended 31 December 2024 (Continued) Trustees No directors of the Trustee. who comprise the charity's key management personnel (or any persons connected th them) received any remuneration durtng the year. Employees 2024 2023 Staff costs consist of.. Wages and salaries Social security costs Pension 17,250 2,067 518 60,083 786 1,803 The average monthly number of employees during the year was 1 (2023- 1}. The following number of employees received employee benefits (excluding employer pension) during the year between: 2024 2023 £60,000 - £69,999 Key Management Personnel The employee benefits of Key Management Personnel are £19,835 (2023.. £62,672). Tangible fixed assets Computer equipment Office equipment Total Cost At 1 January 2024 Additions 10,130 2,725 12,855 At 31 December 2024 10,130 2,725 12,855 Depreciation At 1 January 2024 Charge for the year 10.130 2,725 12,855 At 31 December 2024 10,130 2,725 12,855 Net bi)ok value At 31 December 2024 At 31 December 2023 The fixed assets are used for direcl charitable expenditure. 10
Anglo-lsrael Association Notes Forming Part of the Financial Statements for the Year Ended 31 December 2024 (Continued) Investments 2024 2023 Market value as at 1 January 2024 Realised (losses)Igains Unrealised profit on revaluation Portfolio management charge Cash injectionl (withdrawn) 1,295,262 1,055 52,013 {7,885) 1.382.568 (8.661) 29,068 (7.713) (100,000) Market value as at 31 December 2024 1,340,445 1,295,262 Debtors 2024 2023 Prepayments and aGcrued income Other debtors 4,865 3,393 5,604 3,393 8,258 8,997 Creditors.. amounts falling due within one year 2024 2023 Accruals and deferred income Other creditors 3,400 1,837 6,430 1,747 5,237 8,177
Anglo-lsrael Association Notes Forming Part of the Financial Statements for the Year Ended 31 December 2024 (Continued) 10 Analysis of net assets between funds Pinto designated fund MCA general pemianent endowment fund Unrestricted Restricted Total Fund balance5 at 31 December 2024 are represented by.. Tangible fixed asset5 Investments state of Israel Bond Current Assets Creditors.. amounts falling due within one year 704,645 140,000 635,800 1,340,445 140,000 79,247 79,247 15,237) (5,237) Total net assets 74,010 844,645 635,800 1,554,455 Analysis of net assets between funds (prior year) Unrestrlcted Restricted Pinto designated fund MCA general permanent endowment fund Total Fund balances at 31 December 2023 are represented by.. Tangible fixed assets Investments Slate of Israel Bond Current Assets Creditors.. amounts falling due within one year 680,893 140,ODD 614,369 1,295.262 140,000 114,285 114.285 (8,177) (8,177) Total net assets 106,108 820,893 614,369 1,541,370 The charity is in process of transferring the assets to a CIO structure and has received approval from the Charity Commission. 11 Related Parties There were no related paty transactions in the year. 12