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|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|||||||
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|||||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.||||
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||||||||||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|
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