## ## |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 โ€”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|||13โ€”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| |CIIAeht Sss@IS
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4,789,23,G|8&9,751
1,4/3, 39'f||| |||477,439|$93โ€ž%84||| ||||5,9%,$95||| |Wk@f)tent%|||||| |||||j'/4$,|&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)|