2022-03-31-accounts

Trustees		BBorowski
		R Kaufman
		A Noam
		Zvi Nixon
Delegated	Management	A Noam
Charity Number		1062357
Address		16Great Queen Street
		London
		WCZB SDG
Auditor		Harold Everett Wreford		LLP
		2nd Floor
		38Warren	Street
		London
		W1T 6AE
Bankers		Santander	UK pic

			Page
Trustees' Report			1 —2
Statement oftrustees'	responsibilities
Independent auditor's	report		4-7
Consolidated Statement offinancial		activities
Statement offinancial	activities
Consolidated Statement offinancial		position	10
Statement offinancial	position
Consolidated Statement	ofcash flows		12
Notes to the financial statements			13—24

		Notes	2022	2021f
Income and endowments	from:
Donations Investments Other income			1,102,710 6750	1,155,700 8385
Total income and endowments			1,109,460	1,164,085
Raising funds			64,123	53,255
Charitable activities			608,061	584,679
Other		12	135,714	144,340
Total resources expended			807,898	782,274
Net gain/(loss) on investments		13	76,204	(250,000)
Net income (expenditure) Net movement in funds Taxation	for the year/		377,766 (8,787)	131,811 (11,353)
			368,979	120,458
Fund balances at 1 April 2021			9,718,315	9,597,857
Fund balances at 31 March 2022			10,087,294	9,718,315

				2022	2021
			Notes
Income and endowments		from:
Donations				50,000	48,000
Investments				569,487	619,975
Other income				293,731	298,658
Total income and endowments				913,218	966,633
Raising funds				51,831	47,036
Charitable activities				563,157	548,251
Other			12	47,914	51,287
Total resources expended				662,902	646,574
Net gain/(loss)	on investments			76,204	(400,000)
Net income/(expenditure)		for the year/
Net movement	in funds			326,520	(79,941)
Fund balances	at 1 April 2021			9,634,390	9,714,331
				9,960,910	9,634,390
Fund balances at 31 March 2022				9,960,910	9,634,390

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		4,'I36,083
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	15
	f7 4l	275@98 4,789,23,G	8&9,751 1,4/3, 39'f
		477,439	$93„%84
			5,9%,$95
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				j'/4$,	&9'
				$C,SQ3,8%
				,484,Mk

					2022		2021
				Notes	f.
Cash flows from operating			activities
Cash absorbed by operations				24		(879,664)		(782,124)
Investing	activities
Rent and Purchase Proceeds	interest received of unlisted investments ofsale of unlisted investments				1,102,710 458,775		1,155,700 (12,155)
Net cash	(used in)/generated		from
investing	activities					1,561,485		1,143,545
Financing	activities
Repayment	of bank loans				(330,000)		(330,000)
Net cash	used in financing		activities			(330,000)		(330,000)
Net increase/(decrease) in		cash and
cash equivalent						351,821		31,421
Cash and cash equivalents		at
beginning	ofyear					299,722		268,301
Cash and	cash equivalents		at
end ofyear						651,543		299,722

4	Investments				Group	Charity
					2022 2021	2021	2021
	Rental income Interest receivable				1,102,709 1 1,155,678 22	569,487	619,965 10
					1,102,710 1,155,700	569,487	619,975
	Rental income Interest receivable	arises arises	on investment from Bank interest		properties held in and late payment of rent.	the United	Kingdom.

Other inc	ome					Group	Charity	Charity
					2022	2021	2022	2021
							E
Net income due from a subsidiary Insurance commission				LLP	6,750	8,385	287,731 6,000	292,125 6,533
					6,750	8,385	293,731	298,658
Raising funds						Group	Charity
					2022	2021	2022	2021
					E		E	E
Investment	ro ert	ex enses
Agents' fees and property			related	expenses	64,123	53,255	51,831	47,036
					64,123	53,255	51,831	47,036

Charitable	activities	activities					Group		Charity	Charity
							2022 2021		2022	2021
								F	E	E
Grant funding of activities (see note 8)						586,000 576,006			586,000	576,006
Governance costs		(see note			9)	22,061 8,673			(22,843)	(27,755)
						608,061 584,679			563,157	548,251
Grants payable
Charitable	activities		include		grants off586,000 (2021 - F576,006) paid overseas to the					Bible Lands
Museum,	Jerusalem,			this being the only institution			that benefits	from the grants made by		the charity.
Support Costs							Group		Charity
					2022		2021	2022	2021
					Governance	Governance Governance Governance				Basis of
					Costs		Costs	Costs	Costs	allocation
							E	E
Amortised	lease incentives				(43,354)		(43,354)	(43,354)	(43,354)	Governance
Audit and	accountancy			fees	24,100		21,600	12,650	12,650	Governance
Legal and	professional				39,944		29,426	7,065	2,330	Governance
Bank charges					1,371		1,067	796	685	Governance
Foreign exchange		(gain)/loss					(66)		(66)	Governance
					22,061		8,673	(22,843)	(27,755)
Analysed between
charitable	activities				22,061		8,673	(22,843)	(27,755)
There are	no specific support costs.

Fixed asse	t investments
				Group		Charity
			2022	2021	2022		2021
		Notes		f.
Investments	in subsidiaries	22			3		3
Loans to subsidiaries					3,004,294	3,118,491
Unlisted investments				382,571	-		382,571
				382,571	3,004,297	3,501,065
Movement	in fixed asset	investments
Group					Shares		Total
					E		E
Cost or valuation
At 31 March	2021				382,571		382,571
Additions
Disposals					(382,571)		(382571)
At 31 March	2022
Carrying amount
At 31 March	2022
At 31 March	2021				382,571		382,571
Movement	in fixed asset	investments
Charity
				Loans	Shares		Total
Cost or valuation
At 31 March	2021			3,118,491	382,574	3,501,065
Additions				12,345			12,345
Repayments				(126,542)	(382,571)	(509,113)
At 31 March	2022			3,004,294	3	3,004,297
Carrying amount
At 31 March	2022			3,004,294	3	3,004,297
At 31 March	2021			3,118,491	382,574	3,501,065

F	R THE YEAR ENDED 3	R THE YEAR ENDED 3	1	MARCH 2	02	2
16	Financial instruments
							Group			Charity
						2022 f.	2021		2022	2021
	Carrying amount	offinancial		assets
	Debt instruments Equity instruments	measured measured	at amortised at cost less		cost	526,916	578,999		5,039,922	4,860,433
	impairment						382,571		3	382,574
	Carrying amount	offinancial		liabilities
	Measured at amortised cost					5,716,124	6,117,648		3,113,231	3,304,711
17	Debtors
							Group			Charity
						2022	2021		2022	2021
							E			E
	Amounts falling due within Other debtors		one year:			251,518	260,248		221,686	172,378
	Amounts due from	subsidiary	undertaking						1,538,544	1,250,813
						251,518	260,248		1,760,230	1,423,191
	Amounts falling due after more than one
	year:
	Other debtors					275,398	318,751		275,398	318,751
	Total debtors					526,916	578,999	2,035,628		1,741,942

				Group		Charity
			2022	2021	2022	2021
				E
Bank loans			3,890,000	4,220,000	1,287,500	1,437,500
Unamortised		finance costs	(54,027)	(42,691)	(19,369)	(28,034)
			3,835,973	4,177,309	1,268,131	1,409,466
Payable	within	one year	330,000	2,132,500	150,000	150,000
Payable	after	one year	3,505,973	2,044,809	1,118,131	1,259,466

			Group		Charity
		2022	2021	2022	2021
				f.	E
Other creditors		1,708,714	1,724,173	1,708,714	1,724,173
Accruals and deferred	income	171,438	216,166	136,387	171,072
		1,880,152	1,940,339	1,845,101	1,895,245

			Charity	and Group
			2022	2021
Other	related	parties	1,708,714	1,711,637

Name of undertaking and country ofincorporation or residency	Name of undertaking and country ofincorporation or residency	Nature ofbusiness	Class of Shareholding	Class of Shareholding	% Held Direct
Gilgamesh Gilgamesh	Hull LLP- United Kingdom (Broxbourne 8	Property Investment		Ordinary	100.00
Portslade)	Limited- United Kingdom	Property Investment		Ordinary	100.00
At 31 March 2022 the aggregate ofthe share capital and reserves			amounted	as follows:
Gilgamesh	Hull LLP - E1,538,546 surplus
Gilgamesh	(Broxbourne 8 Portslade)	Limited - f126,385 surplus

	Gilgamesh Hull LLP
						2022	2021
						E	E
	Income					363,345	365,441
	Administrative expenses					(75,615)	(73,326)
	Interest receivable					1	10
	Surplus retained for the	year				287,731	292,125
	Gilgamesh (Broxbourne &Portslade)			Limited
	Income					170,627	172,124
	Administrative expenses					(119,381)	(110,374)
	Interest receivable						2
	Increase/(decrease) in	fair value of investment			properties		150,000
	Corporation tax					(8,787)	(11,353)
	Surplus/(loss) for the year					42,459	200,399
24	Cash generated from	operations				2022	2021
						F	F
	Surplus for the year					368,979	120,458
	Adjustments for:
	Investment income recognised		in profit	or loss		(1,102,710)(1,155,700)
	Fair value losses/(gains)	on investment		properties			250,000
	Gain on sale of unlisted	investments				(76,204)
	Unamortised lease incentives					(43,354)	(43,354)
	Movements in working	capital:
	(Increase)/Decrease in	debtors				52,084	(4,130)
	Increase/(Decrease) in	creditors				(78,459)	50,602
	Cash absorbed by operations					(879,664)	(782,124)

			At		At
			1 April	Cashflows	31 March
			2021		2022
			E		E
Cash Loans Loans	at bank and falling due falling due	in hand within one year after more than one year	299,722 (2,132,500) (2,044,809)	351,821 1,802,500 (1,461,164)	651,543 (330,000) (3,505,973)
			(3,877,587)	693,157	(3,184,430)