2023-03-31-accounts

Trustees		BBorowski
		R Kaufman
		A Noam
		Zvi Nixon
Delegated Management		A Noam
Charity	Number	1062357
Address		16Great Queen Street
		London
		WC28 5DG
Auditor		Harold Everett Wreford		LLP
		2nd Floor
		38Warren	Street
		London
		W1T 6AE
Bankers		Santander	UK pic

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

			Notes	2023	2022
				6	F
Income and endowments		from
Donations
Investments				1,043,550	1,102,710
Other income				12,754	6,750
Total income	and endowments
				1,056,304	1,109,460
~E* de
Raising funds				120,036	64,123
Charitable activities				651,716	608,061
Other			12	161,106	135,714
Total resources expended				932,858	807,898
Net gain/(loss)	on investments		13		76,204
Net income (expenditure)		for the year/
Net movement	in funds			123,446	377,766
Taxation				(20,650)	(8,787)
				102,796	368,979
Fund balances	at 1 Apdl 2022			10,087,294	9,718,315
Fund balances	at 31 llllarch 2023			10,190,090	10,087,294

				2023	2022
			Notes
Income and endowments		from
Donations				55,000	50,000
Investments				517,153	569,487
Other income				269,857	293,731
Total income	and endowments			842,010	913,218
~E«dit
Raising funds				114,075	51,831
Charitable activities				633,894	563,157
Other			12	44,280	47,914
Total resources expended				792,249	662,902
Net gain/(loss)	on investments		13		76,204
Net income/(expenditure)		for the year/
Net movement	in funds			49,761	326,520
Fund balances	at 1 April 2022			9,960,910	9,634,390
				10,010,671	9,960,910
Fund balances	at 31 llllarch 2023			10,010,671	9,960,910

						2023
				Notes
Fixed assets
Investment	Properties			14		14,724,603		14,681,249
Investments				15
						14,724,603		14,681,249
Current assets
Debtors falling due after one year				17	237,896		275,398
Debtors falling due within one year				17	60,902		251,518
Cash at bank					322,779		651,543
					621,577		1,178,459
Creditors:	amounts	falling due
within one	year
Loans and	overdrafts			18	330,000		330,000
Taxation and social security					58,860		56,289
Other creditors				19	1,572,365		1,880,152
					1,961,225		2,266,441
Net current	liabilities					(1,339,648)		(1,087,982)
Total assets less current			liabilities			13,384,955		13,593,267
Creditors:	amounts	falling	due after
more than	one year
Loans and	overdrafts			18	3,194,865		3,505,973
						(3,194,865)		(3,505,973)
Net assets						10,190,090		10,087,294
Income funds
Unrestricted	funds —general					10,190,090		10,087,294
						10,190,090		10,087,294
The accounts were approved by the Trustees on					.f()dR'.74
R Kaufman	-Trustee				A	Noam -Trustee

								2023		2022
					Notes
							5		F
Fixed assets
Investment	Properties				14			7,624,603		7,581,249
Investments					15			2,709,297		3,004,297
								10,333,900		10,585,546
Current assets
Debtors falling due after one year					17		237,896			275,398
Debtors falling due within one				year	17		1,843,678			1,760,230
Cash at bank							290,062			477,439
							2,371,636			2,513,067
Creditors:	amounts	falling due
within one	year
Loans and	overdrafts				18		150,000			150,000
Taxation and social security							24,738			24,471
Other creditors					19		1,543,332			1,845,101
							1,718,070			2,019,572
Net current	assets/(liabilities)							653,566		493,495
Total assets less current			liabilities					10,987,466		11,079,041
Creditors:	amounts	falling	due after
more than	one year
Loans and	overdrafts				18			(976,795)		(1,118,131)
Net assets								10,010,671		9,960,910
Income funds
Unrestricted	funds —general							10,010,671		9,960,910
								10,010,671		9,960,910
The accounts were approved				by the Trustees		on ...
R Kaufman	-Trustee						A	Noam	Trustee

					2023		2022
				Notes	6		8
Cash flows from operating			activities
Cash absorbed by operations				24		(1,042,314)		(879,664)
Investing	activities
Rent and interest received					1,043,550		1,102,710
Purchase	ofunlisted investments
Proceeds	ofsale of unlisted	investments					458,775
Net cash	(used in)/generated		from
investing	activities					1,043,550		1,561,485
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						(328,764)		351,821
Cash and	cash equivalents	at
beginning	ofyear					651,543		299,722
Cash and	cash equivalents		at
end ofyear						322,779		651,543

4	Investmsnts		Group	Charity
		2023	2022	2023	2022
		E	E	E	E
	Rental income	1,043,550	1,102,709	517,153	569,487
	Interest receivable		1
		1,043,550	1,102,710	517,153	569,487

5	Other inc	ome					Group	Charity
						2023	2022	2023	2022
								E	E
	Net income due from		a subsidiary		LLP			258,313	287,731
	Insurance	commission				12,754	6,750	11,544	6,000
						12,754	6,750	269,857	293,731
6	Raising funds						Group	Charity
						2023	2022	2023	2022
						E	E	E	E
	Investment	ro ert	ex enses
	Agents' fees and property			related	expenses	120,036	64,123	114,075	51,831
						120,036	64,123	114,075	51,831

7	Charitable	activities	activities		Group		Charity
				2023	2022	2023		2022
				6	E	E		E
	Grant funding		ofactivities (see note 8)	636,000	586,000	636,000		586,000
	Governance		costs (see note 9)	15,716	22,061	(2,106)		(22,843)
				651,716	608,061	633,894		563,157

Support	Costs			Group		Charity
			2023	2022	2023	2022
			Governance	Governance	Governance Governance		Basis of
			Costs	Costs	Costs	Costs	allocation
			E	E	E	E
Amortised	lease incentives		(43,354)	(43,354)	(43,354)	(43,354)	Governance
Audit and	accountancy	fees	22,951	24,100	12,600	12,650	Governance
Legal and	professional		34,797	39,944	27,521	7,065	Governance
Bank charges			1,322	1,371	1,127	796	Governance
			15,716	22,061	(2,106)	(22,843)
Analysed	between
charitable	activities		15,716	22,061	(2,106)	(22,843)

10	Auditor's remuneration	Auditor's remuneration
	The analysis ofauditor's		remuneration		is as follows:	Group			Charity
	Fees payable to the	charity's		auditor
	and associates:				2023		2022	2023		2022
					E			E		E
	Audit ofthe charity's	annual accounts			12,451		10,800	6,000		3,250
11	Employees

Fixed asse	t investments
				Group		Charity
			2022	2022	2023	2022
		Notes	E	F	F	E
Investments	in subsidiaries	22			3	3
Loans to subsidiaries					2,709,294	3,004,294
Unlisted investments
					2,709,297	3,004,297
Movement	in fixed asset	investments
Group					Shares	Total
					E	E
Cost or valuation
At 31 March	2022
Additions
Disposals
At 31 March	2023
Carrying amount
At 31 March	2023
At 31 March	2022
Movement	in fixed asset	investments
Charity
				Loans	Shares	Total
				E	E	E
Cost or valuation
At 31 March	2022			3,004,294	3	3,004,297
Additions
Repayments				(295,000)		(295,000)
At 31 March	2023			2,709,294	3	2,709,297
Carrying amount
At 31 March	2023			2,709,294	3	2,709,297
At 31 March	2022			3,004,294	3	3,004,297

16	Financial	instruments	instruments
							Group		Charity
						2023	2022	2023		2022
						8	E	E		E
	Carrying	amount	offinancial		assets
	Debt instruments		measured	at amortised cost		298,798	526,916	4,790,868	5,039,922
	Equity instruments		measured		at cost less
	impairment
	Carrying	amount	offinancial		liabilities
	Measured	at amortised cost				5,097,230	5,716,124	2,670,127	3,113,231
17	Debtors
							Group		Charity
						2023	2022	2023		2022
						E	E	8		8
	Amounts	falling	due within	one year:
	Other debtors					60,902	251,518	46,822		221,686
	Amounts	due from subsidiary			undertaking			1,796,856	1,538,544
						60,902	251,518	1,843,678	1,760,230
	Amounts	falling	due after more than one
	year:
	Other debtors					237,896	275,398	237,896		275,398
	Total debtors					298,798	526,916	2,081,574	2,035,628

				Group		Charity
			2023	2022	2023	2022
			6	6	6	F
Bank loans			3,560,000	3,890,000	1,137,500	1,287,500
Unamortised		finance costs	(35,135)	(54,027)	(10,705)	(19,369)
			3,524,865	3,835,973	1,126,795	1,268,131
Payable	within one year		330,000	330,000	150,000	150,000
Payable	after	one year	3,194,865	3,505,973	976,795	1,118,131

			Group		Charity
		2023	2022	2023		2022
		F.	F	8		F
Other creditors		1,396,818	1,708,714	1,385,791	1,708,714
Accruals and deferred	income	175,547	171,438	157,541		136,387
		1,572,365	1,880,152	1,543,332	1,845,101

			Charity	and Group
			2022	2022
			E	E
Other	related	parties	1,385,791	1,708,714

Details of	the charity's subsidiaries	at	31	March 2023 are as follows:
Name of	undertaking and country			Nature ofbusiness	Class of	'lo Held
of incorporation or residency					Shareholding	Direct
Gilgamesh	Hull LLP- United Kingdom			Property Investment	Ordinary	100.00
Gilgamesh	(Broxbourne 8
Portslade)	Limited- United Kingdom			Property Investment	Ordinary	100.00
At 31 March 2023 the aggregate of		the share capital and reserves amounted as follows:
Gilgamesh	Hull LLP -E1,796,859surplus
Gilgamesh	(Broxbourne & Portslade)		Limited -E179,420 surplus

	Gilgamesh Hull LLP
						2023	2022
						E	E
	Income					356,980	363,345
	Administrative expenses					(98,667)	(75,615)
	Interest receivable						1
	Surplus retained for the year					258,313	287,731
	Gilgamesh (Broxbourne &Portslade)			Limited
	Income					170,627	170,627
	Administrative expenses					(96,942)	(119,381)
	Interest receivable
	Increase/(decrease) in	fair value of investment			properties
	Corporation tax					(20,650)	(8,787)
	Surplus/(loss) for the year					53,035	42,459
24	Cash generated from	operations				2023	2022
						F	E
	Surplus for the year					102,796	368,979
	Adjustments for:
	Investment income recognised		in profit	or loss		(1,043,550)(1,102,710)
	Fair value losses/(gains)	on investment		properties
	Gain on sale ofunlisted	investments					(76,204)
	Unamortised lease incentives					(43,354)	(43,354)
	Movements in working	capital:
	(Increase)/Decrease in	debtors				228,118	52,084
	Increase/(Decrease) in	creditors				(286,324)	(78,459)
	Cash absorbed by operations					(1,042,314)	(879,664)

		At		At
		1April	Cashflowe	31 March
		2022		2023
				E
Cash	at bank and in hand	651,543	(328,764)	322,779
Loans	falling due within one year	(330,000)		(330,000)
Loans	falling due after more than one year	(3,505,973)	311,108	(3,194,865)
		(3,184,430)	(17,656)	(3,202,086)