2023-03-31-accounts

REGISTERED COMPANY NUMBER: 02210554 (England and Wales) REGISTERED CHARITY NUMBER: 1010420

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

BEIS AHARON CHARITABLE TRUST LIMITED

Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL

BEIS AHARON CHARITABLE TRUST LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

		Page
Reference and Administrative Details		1
Report of the Trustees	2	to	3
Statement of Trustees' Responsibilities		4
Report of the Independent Auditors	5	to	7
Statement of Financial Activities		8
Balance Sheet	9	to	10
Cash Flow Statement		11
Notes to the Cash Flow Statement		12
Notes to the Financial Statements	13	to	19

BEIS AHARON CHARITABLE TRUST LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2023

TRUSTEES	M Bard Company Director
	A Hoffman Company Director
	J Lipschitz Company Director
COMPANY SECRETARY	Mrs F Lipschitz
REGISTERED OFFICE	115 Craven Park Road
	London
	N15 6BL
PRINCIPAL ADDRESS	86 DARENTH ROAD
	London
	N16 6ED
REGISTERED COMPANY	02210554 (England and Wales)
NUMBER
REGISTERED CHARITY	1010420
NUMBER
INDEPENDENT AUDITORS	Venitt and Greaves
	Chartered Accountants
	115 Craven Park Road
	South Tottenham
	London
	N15 6BL

Page 1

BEIS AHARON CHARITABLE TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity's objectives and principal activity is to be that of the promotion and education of the Orthodox Jewish Faith and the relief of poverty. The primary means of achieving this objective is through the support of the Beis Aharon Talmud Torah School.

Public benefit

Each year the trustees review their objectives and activities to ensure that they continue to reflect the trustees aims. In carrying out their review the trustees have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public guidance, with focused regard towards the advancement of the Orthodox Jewish Faith and all its facets for the public benefit.

Grantmaking

The charity provides donations to various institutions whose objectives align closely with its own and to individuals in need.

Volunteers

The charity is ran solely by volunteers and the Trustees, none of the charity's work was undertaken by paid employees in the period.

STRATEGIC REPORT

Achievement and performance

Charitable activities

The charity considers that it achieved its objectives during the year by supporting charitable causes in accordance with the charity's objectives. The trustees aim to continue operating the charity by similar means for the future.

During the year under review the charity received generous donations that amounted to £3,290,714 (2022: £3,461,846) and paid donations that amounted to £3,188,507 (2022: £3,361,851).

Investment performance

The charity's investment income of £161,725 (2022: £167,565) reflects the rental income received from investment properties held by the charity.

Financial review

Key Performance Indicators

The trustees monitor the charity’s performance against its charitable objectives on a regular basis. Performance is assessed against the objectives and expectations using financial and non-financial indicators. The key financial performance indicators used by the charity are funding, expenditure on charitable activities and net income.

Reserves policy

It is the policy of the charity to try and maintain unrestricted funds at a level which the trustees think appropriate after considering the future commitments of the charity, unplanned emergency expenditure and the likely administrative costs of the charity for the next year.

As at 31.03.2023 the charity’s unrestricted funds were £5,800,085 (2022: £5,653,553).

Going concern

The trustees have a reasonable expectation that the charity has adequate resources and support to continue operational existence for the foreseeable future. For this reason, the charity has adopted the going concern basis of accounting in preparing the annual financial statements.

Page 2

BEIS AHARON CHARITABLE TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

STRATEGIC REPORT

Future plans

The trustees intend to continue to operate the charity in a similar manner to the year under review which has been satisfactory. It is envisaged that substantial donations will continue to be distributed to educational institutions in furtherance of the Orthodox Jewish faith as set out in the charity's stated objectives.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is constituted as a company, limited by guarantee, and is governed by its Memorandum and Articles of Association. Accordingly, it has no issued share capital.

The management of the charity is under the direction of the Board of Trustees. New trustees may be appointed by the board of trustees. Mr J Lipschitz is the trustee responsible for the day to day management of the charity.

Recruitment and appointment of new trustees

It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.

Organisational structure

There are three trustees who also act as directors. They meet on a regular basis to discuss the affairs of the charity. All decisions are based on a majority decision of the directors but in almost all cases the votes are unanimous.

Related parties

Related party transactions and balances are disclosed in the notes to the financial statements where required.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Systems of internal controls are designed to provide reasonable, but not absolute, assurance against material misstatement or loss.

The trustees pay particular attention to the financial sustainability. The trustees regularly review the available funding sources to ensure that the charity has sufficient funds to meet its short term working capital needs and sustainable funding sources to meet its mid to long term obligations.

The principle risks are financial including items such as loss of rental income received and decrease in donations received.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 10 May 2024 and signed on the board's behalf by:

J Lipschitz - Trustee

Page 3

BEIS AHARON CHARITABLE TRUST LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2023

The trustees (who are also the directors of BEIS AHARON CHARITABLE TRUST LIMITED for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

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 charitable company for that period. In preparing those financial statements, the trustees are required to

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charity SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable 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 proper accounting records which 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.

In so far as the trustees are aware:

• 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.

Page 4

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BEIS AHARON CHARITABLE TRUST LIMITED

Opinion

We have audited the financial statements of BEIS AHARON CHARITABLE TRUST LIMITED (the 'charitable company') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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 this gives rise to a material misstatement in the financial statements themselves. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

• the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or

• the charitable company has not kept adequate accounting records; or

• the financial statements are not in agreement with the accounting records and returns; or

• we have not received all the information and explanations we require for our audit.

Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BEIS AHARON CHARITABLE TRUST LIMITED

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, 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.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors 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 on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

• We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity through discussion with the trustees and identified financial reporting legislation and charity legislation as being most significant to these financial statements. These included but were not limited to FRS 102, Charities Act 2011 and Data protection legislation as they affect the direct charitable activities of the charity.

• We communicated these identified frameworks amongst our audit team and remained alert to any indications of non-compliance throughout the audit. We ensured that the engagement team had sufficient competence and capability to identify or recognise non-compliance with laws and regulations.

• We discussed with the trustees the policies and procedures regarding compliance with these legal and regulatory frameworks.

• We assessed the susceptibility of the charity's financial statements to material misstatement due to non-compliance with legal and regulatory frameworks, including how fraud might occur, by enquiry with the trustees during the planning and finalisation stages of our audit. Specific areas identified were the completeness of income and going concern.

• Based on this understanding, we designed our audit procedures to identify non-compliance with the identified legal and regulatory frameworks, which were part of our procedures on the related financial statement items. We performed appropriate audit testing on the recognition and completeness of income and management’s assessment of going concern.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

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 Report of the Independent Auditors.

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BEIS AHARON CHARITABLE TRUST LIMITED

for and on behalf of Venitt and Greaves Chartered Accountants Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 115 Craven Park Road South Tottenham London N15 6BL

10 May 2024

M A Venitt – Senior Statutory Auditor

Page 7

BEIS AHARON CHARITABLE TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Notes INCOME AND ENDOWMENTS FROM Donations and legacies 3 Investment income 4 Total EXPENDITURE ON Charitable activities 5 Charitable activites Other expenditure Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	31.3.23 Unrestricted fund £ 3,290,714 161,725 3,452,439 3,299,907 6,000 3,305,907 146,532 5,653,553 5,800,085	31.3.22 Total funds as restated £ 3,461,846 167,565
		3,629,411
		3,427,528 6,000
		3,433,528
		195,883 5,457,670
		5,653,553

The notes form part of these financial statements

Page 8

BEIS AHARON CHARITABLE TRUST LIMITED

BALANCE SHEET 31 MARCH 2023

Notes FIXED ASSETS Investment property 11 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 13 NET ASSETS FUNDS 16 Unrestricted funds: General fund TOTAL FUNDS	31.3.23 Unrestricted fund £ 7,500,000 361,578 (741,447) (379,869) 7,120,131 (1,320,046 ) 5,800,085 5,800,085 5,800,085	31.3.22 Total funds as restated £ 7,500,000 318,643 (723,214) (404,571) 7,095,429 (1,441,876 ) 5,653,553 5,653,553 5,653,553

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for

• (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

• (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

The financial statements were approved by the Board of Trustees and authorised for issue on 10 May 2024 and were signed on its behalf by:

The notes form part of these financial statements

continued...

Page 9

BEIS AHARON CHARITABLE TRUST LIMITED

BALANCE SHEET - continued 31 MARCH 2023

J Lipschitz - Trustee

A Hoffman - Trustee

M Bard - Trustee

The notes form part of these financial statements

Page 10

BEIS AHARON CHARITABLE TRUST LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023

Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from financing activities Loan repayments in year Net cash used in financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period	31.3.23 a £ 154,793 154,793 (111,858) (111,858) 42,935 318,643 361,578	31.3.22 s restated £ 183,183 183,183 (134,363) (134,363) 48,820 269,823 318,643

The notes form part of these financial statements

Page 11

BEIS AHARON CHARITABLE TRUST LIMITED

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
			31.3.23	31.3.22
				as restated
			£	£
	Net income for the reporting period (as per the Statement of Financial
	Activities)		146,532	195,883
	Adjustments for:
	Increase/(decrease) in creditors		8,261	(12,700)
	Net cash provided by operations		154,793	183,183
2.	ANALYSIS OF CHANGES IN NET DEBT
		At 1.4.22	Cash flow	At 31.3.23
		£	£	£
	Net cash
	Cash at bank	318,643	42,935	361,578
		318,643	42,935	361,578
	Debt
	Debts falling due within 1 year	(159,410)	(9,972)	(169,382)
	Debts falling due after 1 year	(1,441,876 )	121,830	(1,320,046 )
		(1,601,286 )	111,858	(1,489,428 )
	Total	(1,282,643 )	154,793	(1,127,850 )

The notes form part of these financial statements

Page 12

BEIS AHARON CHARITABLE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. The financial statements are prepared in sterling, which is the functional currency of the charity.Monetary amounts in these financial statements are rounded to the nearest £.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Rental income is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and sales taxes.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Governance costs

Governance costs are associated with the governance arrangements of the charity and relate to the general running of the charity. These costs include audit, legal advice for Trustees and costs associated with meeting constitutional and statutory requirements such as the cost of Trustee meetings and the preparation of the statutory accounts

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Financial instruments

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously

continued...

Page 13

BEIS AHARON CHARITABLE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.

The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.

Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. DONATIONS AND LEGACIES

Donations 4. INVESTMENT INCOME Rents received 5. CHARITABLE ACTIVITIES COSTS Charitable activites Other expenditure 6. SUPPORT COSTS Other expenditure	Direct Costs £ 3,299,907 - 3,299,907	31.3.23 £ 3,290,714 31.3.23 £ 161,725 Support costs (see note 6) £ - 6,000 6,000	31.3.22 as restated £ 3,461,846 31.3.22 as restated £ 167,565 Totals £ 3,299,907 6,000 3,305,907 Governance costs £ 6,000

continued...

Page 14

BEIS AHARON CHARITABLE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

	31.3.23	31.3.22
		as restated
	£	£
Auditors' remuneration	6,000	6,000

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Charitable activities Charitable activites Other expenditure Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted fund as restated £ 3,461,846 167,565
	3,629,411
	3,427,528 6,000
	3,433,528
	195,883 5,457,670
	5,653,553

Page 15

continued...

BEIS AHARON CHARITABLE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

10. PRIOR YEAR ADJUSTMENT

During the period the charity discovered that a bank account had been erroneously excluded from its financial statements for the period ending 31.03.22. As a consequence donations income, charitable expenditure, unrestricted reserves and cash have been understated. The errors have been corrected by restating each of the affected financial statement line items for prior periods. The opening cash and unrestricted reserves balances as at 01.04.21 have been increased by £242,420. The donations received, charitable expenditure and cash balances for the period ending 31.03.22 have then been increased by £1,125,675, £1,092,100 and £33,575 respectively.

11. INVESTMENT PROPERTY

INVESTMENT PROPERTY
FAIR VALUE At 1 April 2022 and 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 Fair value at 31 March 2023 is represented by: Valuation in 2014 Valuation in 2021 Cost	£ 7,500,000
	7,500,000
	7,500,000
	£ 1,415,604 1,427,120 4,657,276
	7,500,000

If investment properties had not been revalued they would have been included at the following historical cost:

Cost Aggregate depreciation	31.3.23 £ 4,657,276 1,795,216	31.3.22 as restated £ 4,657,276
		1,702,071

The investment properties were valued on a fair value basis on 31 March 2023 by the trustees.

Page 16

continued...

BEIS AHARON CHARITABLE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23 £ Bank loans and overdrafts (see note 14) 169,382 Other creditors 566,065 Accrued expenses 6,000 741,447 13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.3.23 £ Bank loans (see note 14) 1,320,046 14. LOANS An analysis of the maturity of loans is given below: 31.3.23 £ Amounts falling due within one year on demand: Bank loans 169,382 Amounts falling between one and two years: Bank loans - 1-2 years 169,382 Amounts falling due between two and five years: Bank loans - 2-5 years 491,911 Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 658,753

31.3.22 as restated £ 159,410 551,804 12,000 723,214 31.3.22 as restated £ 1,441,876 31.3.22 as restated £ 159,410 159,410 471,887 810,579

a

The loan balance as at 31st March 2023 consists of a COVID bounceback loan totalling £33,306. The loan is unsecured, 100% guaranteed by the Government and interest is capped at 2.5%.

15. SECURED DEBTS

The following secured debts are included within creditors:

	31.3.23	31.3.22
		as restated
	£	£
Bank Loans	1,456,122	1,557,953

The bank loan is secured by first and second legal charges over various properties including the charity's investment properties and bear interest at variable rates.

continued...

Page 17

BEIS AHARON CHARITABLE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

16. MOVEMENT IN FUNDS

At 1.4.22 £ Unrestricted funds General fund 5,653,553 TOTAL FUNDS 5,653,553 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 3,452,439 TOTAL FUNDS 3,452,439 Comparatives for movement in funds At 1.4.21 £ Unrestricted funds General fund 5,457,670 TOTAL FUNDS 5,457,670 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 3,629,411 TOTAL FUNDS 3,629,411	Net movement in funds £ 146,532 146,532 Resources expended £ (3,305,907 ) (3,305,907 ) Net movement in funds £ 195,883 195,883 Resources expended £ (3,433,528 ) (3,433,528 )	At 31.3.23 £ 5,800,085 5,800,085 Movement in funds £ 146,532 146,532 At 31.3.22 £ 5,653,553 5,653,553 Movement in funds £ 195,883 195,883

continued...

Page 18

BEIS AHARON CHARITABLE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

16. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund TOTAL FUNDS	At 1.4.21 £ 5,457,670 5,457,670	Net movement in funds £ 342,415 342,415	At 31.3.23 £ 5,800,085
			5,800,085

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds General fund TOTAL FUNDS	Incoming resources £ 7,081,850 7,081,850	Resources expended £ (6,739,435 ) (6,739,435 )	Movement in funds £ 342,415
			342,415

17. RELATED PARTY DISCLOSURES

During the period the charity received donations of £1,000 from and paid donations of £4,000 to Matonot Limited. The charity and Matonot Limited share a common trustee (Mr J Lipschitz).

In addition, during the period the charity received donations of £46,800 from and paid donations of £292,080 to Yad Vochessed Association Limited. Mr J Lipschitz, a trustee of the charity, and his wife, Mrs F Lipschitz, are trustees of Yad Vochessed Association Limited.

Finally, during the period the charity received donations of £12,000 from and paid donations of £12,200 to Hazlemount Limited. Mr J Lipschitz, a trustee of the charity, and his wife, Mrs F Lipschitz, are trustees of Hazlemount Limited.

As at the balance sheet date the charity owed Mr J Lipschitz £6,005. Mr J Lipschitz also donated £6,000 to the charity during the period.

In addition, as at the balance sheet date the charity owed Trumpeter Investments Limited £144,584. The charity also received donations of £800 from Trumpeter Investments Limited during the period. The charity and Trumpeter Investments Limited share a common director (Mr J Lipschitz).

Finally, as at the balance sheet date the charity owed Grovepalm Limited £293,476. The charity also received donations of £13,000 from and paid donations of £27,650 to Grovepalm Limited during the period. Mr J Lipschitz, a trustee of the charity, and his wife, Mrs F Lipschitz, are trustees of Grovepalm Limited.

As at the balance sheet date the charity is owed £1,500 from Maplecroft Consultants Limited. The charity also received donations of £6,800 from Maplecroft Consultants Limited during the period. Mr J Lipschitz, a trustee of the charity, and his wife, Mrs F Lipschitz, are directors of Maplecroft Consultants Limited.

In addition, as at the balance sheet date the charity is owed £1,000 from Bellamore Trading Limited. The charity also received donations of £3,500 from Bellamore Trading Limited during the period. The charity and Bellamore Trading Limited share a common director (Mr J Lipschitz).

No other related party transactions have been noted during the period ended 31 March 2023.

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