| Trustees (known as the | Trustees (known as the | Trustees (known as the | Mr David Rutenberg | Mr David Rutenberg | Mr David Rutenberg | ||||
|---|---|---|---|---|---|---|---|---|---|
| Council ofManagement) | Miss Judith | S Portrait | |||||||
| Mr Isaac Meshoulam | |||||||||
| Professor Israel Agranat | |||||||||
| Mrs Janet B Bloch | |||||||||
| Mr Abraham | Rutenberg | ||||||||
| Mr Dominic | B Flynn | ||||||||
| Company | registered | ||||||||
| number | 00395846 | ||||||||
| Charity registered | |||||||||
| number | 313900 | ||||||||
| Registered | office | Office Suite | 1,Haslemere | House | |||||
| Lower Street | |||||||||
| Haslemere | |||||||||
| Surrey | |||||||||
| GU27 2PE | |||||||||
| Principal operating | The Pinhas | Rutenberg | Institute | for | Youth Education | ||||
| office | 77 Hanassi | Avenue | |||||||
| Haifa | |||||||||
| Israel | |||||||||
| Company | secretary | Knox Cropper Trustee | Limited | ||||||
| Independent | auditor | Knox Cropper LLP |
|||||||
| Office Suite | 1,Haslemere | House | |||||||
| Lower Street | |||||||||
| Haslemere | |||||||||
| Surrey | |||||||||
| GU27 2PE | |||||||||
| Investment | advisors L | Rathbone Investment |
Management | Limited | |||||
| Bankers | 8 Finsbury Circus |
||||||||
| London | |||||||||
| EC2M 7AZ | |||||||||
| Barclays Bank Pic | |||||||||
| 80 Fleet Street | |||||||||
| London | |||||||||
| EC4Y 1ET | |||||||||
| Solicitors | BDBPitmans | LLP | |||||||
| One Bartholomew | Close | ||||||||
| London | |||||||||
| EC1A 7BL |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Restated | ||||||
| Note | f | |||||
| Fixed assets | ||||||
| Tangible assets | 11 | 267,881 | 314,912 | |||
| Investments | 12 | 3,817,021 | 3,785,951 | |||
| 4,08'l,902 | 4,100,863 | |||||
| Current assets | ||||||
| Debtors | 13 | 15,092 | 7,467 | |||
| Cash at bank and | in hand | 440,589 | 268,208 | |||
| 455,681 | 275,675 | |||||
| Creditors: amounts | falling due within | |||||
| one year | 14 | (250,974) | (134,850) | |||
| Net current assets | 204,707 | 140,825 | ||||
| Total assets less | current liabilities | 4,289,609 | 4,241,688 | |||
| Provision for liabilities |
15 | (19,862) | (30,187) | |||
| Net assets | 4,269,747 | 4,211,501 | ||||
| Charity funds | ||||||
| Restricted funds |
18 | 625 | 625 | |||
| Unrestricted funds |
18 | 4,269,122 | 4,210,876 | |||
| Total funds | 4,269,747 | 4,211,501 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Restated | |||||
| Note | f | ||||
| Cash flows from operating activities |
|||||
| Net cash used in operating activities |
20 | 101,224 | (24,082) | ||
| Cash flows from investing activities |
|||||
| Dividends and interest from investments |
69,849 | 83,484 | |||
| Investment management fees |
(13,015) | (12,957) | |||
| Disposal proceeds on investments | 1,582,942 | ||||
| Net cash provided by investing activities |
56,834 | 1,653,469 | |||
| Cash flows from financing activities |
|||||
| Change in cash and cash equivalents |
in the year | 158,058 | 1,629,387 | ||
| Cash and cash equivalents at the beginning |
ofthe year | 1,844,668 | 215,356 | ||
| Effect of currency translation on cash and |
cash equivalents | 1,333 | (75) | ||
| Cash and cash equivalents at the end |
ofthe year | 21 | 2,004,059 | 1,844,668 | |
| The notes on pages 14to 34 form part ofthese financial | statements. |
| 2021 | 2020 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| f | f | |||||||||
| Other income | 58,781 | 60,920 | ||||||||
| Other income | includes fees for cellular carrier's lease. | |||||||||
| 8. | Expenditure | on Charitable | Activities | |||||||
| 2021 | 2020 | |||||||||
| Direct costs | ||||||||||
| Lecturer's and |
instructors' | fees | 10,538 | 6,612 | ||||||
| Victuals | 3,334 | 7,973 | ||||||||
| Transport and travelling |
12,594 | 6,602 | ||||||||
| Building maintenance |
and | upkeep of | garden, | furniture | and kitchen | |||||
| equipment | 92,626 | 56,233 | ||||||||
| Legal, bookkeeping | and accountancy | charges | 23,425 | 19,871 | ||||||
| Bank interest and charges | 2,976 | 709 | ||||||||
| Insurance and |
rates | 19,'}28 | 18,314 | |||||||
| Communications | 3,903 | 4,332 | ||||||||
| Sundry expenses | 2,087 | 2,334 | ||||||||
| Wages and salaries | 131,681 | 125,809 | ||||||||
| Depreciation | 57,193 | 74,281 | ||||||||
| 359,785 | 323,070 | |||||||||
| Support costs | ||||||||||
| Auditor's remuneration |
14,161 | 1'},069 | ||||||||
| Indemnity insurance |
3,217 | 2,396 | ||||||||
| Legal fees | 10,072 | 8,388 | ||||||||
| 27,450 | 24,853 | |||||||||
| 387,235 | 347,923 |
| Tangible fixed | assets —Res | tated | |||||
|---|---|---|---|---|---|---|---|
| Long-term | Leasehold | ||||||
| Group | Freehold | leasehold | improve- | Office | Computer | ||
| property | property | ments f |
equipment | equipment f. |
Total f |
||
| Cost | |||||||
| At 1january 2021 (restated) | 768,810 | 1,273 | 1,064,223 | 252,918 | 45,927 | 2,133,151 | |
| Additions | |||||||
| Disposals | (4,485) | (52,148) | (1,782) | (58,415) | |||
| Foreign currency | translation | 45,838 | 8,684 | 1,909 | 56,431 | ||
| At 31December | 2020 | 768,810 | 1,273 | 1,105,576 | 209,454 | 46,054 | 2,131,167 |
| Depreciation | |||||||
| At 1january 2021 (restated) | 768,809 | 528 | 786,474 | 216,887 | 45,541 | 1,818,239 | |
| Charge for the year | 13 | 48,611 | 8,190 | 379 | 57,193 | ||
| On disposals | (4,485) | (52,148) | (1,782) | (58,415) | |||
| Foreign currency | translation | 36,738 | 7,615 | 1,916 | 46,269 | ||
| At 31 December | 2020 | 768,809 | 541 | 867,338 | 180,544 | 46,054 | 1,863,286 |
| Net book value | |||||||
| At 31 December | 2021 | 732 | 238,238 | 28,910 | 267,881 | ||
| At 31 December | 2020 | 745 | 277,749 | 36,031 | 386 | 314,912 |
| 12. | Fixed asset investments | Fixed asset investments | Fixed asset investments | Fixed asset investments | |||
|---|---|---|---|---|---|---|---|
| Listed | securities | ||||||
| Group and company | 2021 | 2020 | |||||
| Market value | |||||||
| At 1january 2021 | 2,209,491 | 3,866,278 | |||||
| Additions | |||||||
| Disposal proceeds | (1,582,942) | ||||||
| Realised and unrealised | losses | 44,060 | (73,845) | ||||
| At 31December | 2021 | 2,253,551 | 2,209,491 | ||||
| Cash held by Investment | Managers | 1,563,470 | 1,576,460 | ||||
| 3,817,021 | 3,785,951 | ||||||
| Group material | investments | ||||||
| 2021 | 2020 | ||||||
| f. | |||||||
| 2.5% Index Linked | Treasury | Loan Stock 2024 | 1,895,739 | 1,849,682 | |||
| Rio Tinto Ordinary | 10p | 167,893 | 187,730 | ||||
| 2,063,632 | 2,037,412 |
| 2021 | |
|---|---|
| f | |
| Funds deposited | |
| Brought forward at 1january | 210,610 |
| Return on funds | (3,025) |
| Contributions by employer |
5,386 |
| Benefits paid | (40,367) |
| Currency translation |
6,830 |
| Carried forward at 31 December | 179,434 |
| 2021 | |
| E | |
| Liability per employee severance benefits | |
| Brought forward at 1January | 240,797 |
| Benefits paid | (40,367) |
| Contributions by employer |
5,386 |
| Changes in assumptions |
(13,999) |
| Foreign currency translation | 7,479 |
| Carried forward at 31 December | 199,296 |
| Gains/ | |||||||
|---|---|---|---|---|---|---|---|
| (Losses) | Balance at | ||||||
| Balance at | Other | on disposals | 31 | ||||
| 13anuary | Gains/ | of | December | ||||
| 2021 | Income | Expenditure | (Losses) | investments | 2021 | ||
| Unrestricted | |||||||
| Funds | |||||||
| Trust capital | |||||||
| amount | 2,357,912 | 2,357,912 | |||||
| Revaluation | |||||||
| reserve | 1,474,773 | 44,060 | 1,518,833 | ||||
| Income and | |||||||
| expenditure | |||||||
| account | 378,191 | 396,481 | (400,250) | 17,955 | 392,377 | ||
| 4,210,876 | 396,481 | (400,250) | 17,955 | 44,060 | 4,269,122 | ||
| Restricted | |||||||
| funds | |||||||
| Israeli Electricity | |||||||
| Company | Trust | ||||||
| Fund | 405 | 405 | |||||
| Arison Fund |
220 | 220 | |||||
| 625 | 625 | ||||||
| Total of Funds | 4,211,501 | 396,481 | (400,250) | 17,955 | 44,060 | 4,269,747 |
| Analysis | ofnet asset | s between | funds —current year | |||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||||
| funds | funds | funds | ||||
| 2021 | 2021 | 2021 | ||||
| f. | ||||||
| Tangible | fixed assets | 267,256 | 625 | 267,881 | ||
| Fixed asset investments | 3,817,021 | 3,817,021 | ||||
| Current assets | 455,681 | 455,681 | ||||
| Creditors | due within one year | (250,974) | (250,974) | |||
| Provisions | for liabilities | and charges | (19,862) | (19,862) | ||
| Total | 4,269,122 | 625 | 4,269,747 | |||
| Analysis | ofnet assets between | funds —prior year | ||||
| Unrestricted | Restricted | Total | ||||
| funds | funds | funds | ||||
| 2020 | 2020 | 2020 | ||||
| f | ||||||
| Tangible | fixed assets | 314,287 | 625 | 314,912 | ||
| Fixed asset investments | 3,785,951 | 3,785,951 | ||||
| Current assets | 275,675 | 275,675 | ||||
| Creditors | due within one year | (134,850) | (134,850) | |||
| Provisions | for liabilities | and charges | (30,187) | (30,187) | ||
| Total | 4,210,876 | 625 | 4,211,501 |