Finance Report

Our Year in Photos

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01. Pamela and John Maxwell at Jewish Care’s Sam Beckman Centre for people living with dementia. 02. On Yom Hashoah, members of Jewish Care’s Holocaust Survivors’ Centre lit candles and said Kaddish, for their families and all those who were killed in the Holocaust. 03. Jewish Care Women of Distinction Special Recognition Award Winners 2021. 04. In the run up to Pesach, our Meals on Wheels team in Redbridge delivered over 1,000 meals across the community. 05. Residents celebrate Purim at Anita Dorfman House at Sandringham. 06. Residents at Otto Schiff care home, Muriel, 95, and Dinah, who turned 100 in July, were accompanied to vote in May’s Local Elections.

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07. Jewish Care community centres are reopening member Janice Field with programme assistant Jackie Davies at Southend & Westcliff Community Centre 08. MIKE Awards 2021 09. Sheila enjoyed shaking the lulav and etrog with staff member Ben Horne on Succot at The Ruchi and Zalman Noé Centre for people living with dementia at Sandringham. 10. Keith and Pam Hubert at the Zalman and Ruchi Noe Centre for people living with dementia 11. Redbridge Day Centre members are delighted to be back for in-person activities. 12. Residents at Otto Schiff enjoy plant potting activities.

Reporting

Our income

For the year ended 31 March 2022

Our expenditure

For the year ended 31 March 2022

Fundraising £3,040,000 Care Homes £40,109,000 Day Centres £4,335,000 Home Care £922,000 Independent Living £5,962,000 Social Work £2,221,000 Indirect Community Services £852,000 Mental Health £2,605,000 Project Costs £211,000 Investment Management Fees £219,000

Donations And Legacies £22,686,000 Capital Project Donations £4,491,000 Charitable Activities £35,318,000 CJRS and Infection Control Funds £1,470,000 Other Trading Entities £21,000 Investment Income £1,012,000 Disposal Of Property £11,226,000 Acquisition of Subsidiary £6,482,000

Financial report

Our Bottom Line Our Income Total charitable activities income for the Group before donations and other income was £35.3m (2020/21 £29.5m) with total charitable expenditure before depreciation of £53.3m (2020/21 £52.2m) resulting in a net operating loss before depreciation, donations, and other income of £18.0m (2022/21 net loss of £22.7m). 2021/22 remained both a challenging year and a year of achievement with the efforts of all our teams from our carers through to our fundraisers.

Donations were £14.7m (2020/21 £18.1m) representing a 19% decrease on the prior year. Fundraising was strong in 2021/22 with the decrease as expected with the receipt of £4.1m of one off receipts from an emergency appeal and the receipt of funds from the winding up of an external charitable foundation in 2020/21.

Legacy income was £8.0m (2020/21 £4.3m). This includes an accrual of £3.6m at 31 March 2022 to recognise income due but not yet received. Capital project donations were £4.5m (2020/21 £6.9m). This funding source consists of capital donations applied directly to our capital construction projects. The capital project funding received during the year was towards the development of the Sandringham campus at Stanmore, the final stages of which was the opening of Pears Court Retirement Living scheme in June 2021 and the Ronson Family Community Centre in September 2021.

Property Disposals were £11.2m (2020/21 £2.9m) 2021/22 saw the disposal of two closed care homes, Rubens House and Clore Manor, the proceeds of which will be used to reduce organisational indebtedness.

Our Expenditure Expenditure on our charitable activities (including depreciation of £3.9m) for our care homes, day centres, home care, retirement living, and mental health resources was £57.2m (2020/21 £55.8m). The care sector has seen many challenges over the years to include recruitment and retention. Everyone at Jewish Care was paid at least the London Living Wage from October 2021 equating to an additional annual cost of £1.7m. Charitable expenditure in our care homes was £40.1m (2020/21 £38.9m). The increase in expenditure relates to the implementation of the London Living Wage in October 2021. Covid-19 also influenced additional staff, agency and enhanced overtime rates to cover periods of self-isolation and infection control measures throughout the year but to a lesser extent than 2020/21. Some mitigation of these costs included the financial support given by the Government as part of a package to support the entire care sector in the form of Infection Control Funds and access to PPE from local authorities.

Charitable expenditure in our day centres was £4.3m (2020/21 £5m). 2021/22 saw the continuation of the provision of Day and Community Centre Services in a digital and virtual format up until September 2021. September and October 2021 saw a transition back to in person services with the slow and careful re-opening of our Day and Community Centre hubs.

Charitable expenditure in our retirement living service was £6.0m (2020/21 £4.7m). 2021/22 saw the opening of our newest Retirement Living scheme, a 48 unit scheme, Pears Court making full use of our latest campus development Sandringham in Stanmore welcoming new tenants from June 2021.

Financial report

Further analysis of the Group Charitable Activities (Operations) is as set out below:

Charitable income and expenditure Charitable activities income1

Charitable expenditure before depreciation2

Operating charitable loss before donations Other operational expenditure Depreciation and amortisation Total other operational expenditure Year ended 31 Mar 2022 £’000 Year ended 31 Mar 2021 £’000

35,318 (53,289) (17,971)

(3,928) (3,928)

29,528 (52,247) (22,719)

(3,568) (3,568)

Net operating loss before donations and other income Other Income3 (21,899) 1,470 (26,287) 1,812

Net Income from donations and investments Donations and legacies (includes one off emergency appeal monies in 2021) Fundraising expenditure Other Trading entities Investment Income Investment fees and other investment related costs Total income from donations and investments (net) 22,686

(3,040) 21 1,012 (219) 20,460 22,435

(2,554) 6 1,153 (192) 20,848

Net operating surplus/(loss)

Net realised and unrealised gains on investments 31

2,897 (3,627)

6,492

Property disposals Capital project donations Sandringham Leila’s House (JAMI) Total capital project donations

Acquisition of subsidiary undertaking3

Actuarial gain/(losses) on defined benefit pension scheme 11,226

4,491

- 4,491

6,482

6,119 2,882

6,399 465 6,864

(3,909)

Net movement in funds 31,246 8,702

1 Charitable activities income consists of local authority and private residential fees, grant income, retirement living rental income and day centre attendance income and related charitable expenditure. 2 Other income relates to government funding for the Coronavirus Job Retention Scheme (CJRS) and Infection Control Funding (ICF). 3 The acquisition of Sunridge Housing Association Limited to include a fair value uplift on identifiable assets and liabilities acquired, which is in substance a gift.

Fund movements

Summarised accounts

Unrestricted funds Restricted funds Endowment funds Designated funds Pension fund Total funds

Tangible assets Investments Net current assets /(Liabilities) Defined pension scheme provision Amounts due after one year Net assets Funds at 1 April 2021 £’000 29,194 3,570 16,884 106,942 (14,408) 142,182

142,483 31,550 3,107 (14,408) (20,550) 142,182 Funds movement for the year £’000 22,569 (3) 141 2,172 6,367 31,246

(156) 2,793 17,492 6,367 4,750 31,246 Funds at 31 March 2022 £’000 51,763 3,567 17,025 109,114 (8,041) 173,428

142,327 34,343 20,599 (8,041) (15,800) 173,428

for the year ended 31 March 2022

From our Trustees The summarised accounts are a summary of information extracted from the annual accounts and contain information relating to the Statement of Financial Activities.

These summarised accounts may not contain sufficient information to allow for a full understanding of the financial affairs of the charity.

For further information, the full accounts, which received an unqualified audit opinion, should be consulted. Copies of these can be obtained from Jewish Care, Amélie House, Maurice and Vivienne Wohl Campus, 221 Golders Green Road, London NW11 9DQ.

The annual accounts were approved by the Trustees on 25 October 2022.