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2022-09-30-accounts

Charity Registration No. 1073061

Company Registration No. 03641012 (England and Wales)

KAHAL IMREI CHAIM LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

KAHAL IMREI CHAIM LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr Benjamin Goldberg
Mr Pesach Neiman
Secretary Mr Pesach Neiman
Charity number 1073061
Company number 03641012
Registered office 121 Clapton Common
London
England
E5 9AB
Auditor Glazers
843 Finchley Road
NW11 8NA
Bankers CAF Bank Ltd
25 Kings Hill Avenue
ME19 4JQ

KAHAL IMREI CHAIM LIMITED

CONTENTS

Page
Trustees' report 1 - 2
Statement of trustees' responsibilities 3
Independent auditor's report 4 - 6
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Notes to the financial statements 10 - 18

KAHAL IMREI CHAIM LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2022

The trustees present their annual report and financial statements for the year ended 30 September 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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

The charity's objectives are to advance the Jewish faith by the provision of a place of worship, and to advance education in accordance with the tenets and doctrines of the Jewish faith.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The Charity has continued to provide and maintain a place of worship for the local Jewish Community. There are no restrictions as to who can attend.

In the year under review the charity generated income of £752,443 (2021: £619,753) and incurred expenses of £603,633 (2021: £344,378) resulting in net incoming resources of £148,810.

Financial review

As at 30 September 2022 the Charity had £3,298,341 Unrestricted Funds, of which the free reserves are £359,406.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between two and three month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity ’s current activities while consideration is given to ways in which additional funds may be raised.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for future periods

The charity plans to continue to maintain the place of worship and fund its activities for the foreseeable future subject to satisfactory income.

Structure, governance and management

The charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association .

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Mr Benjamin Goldberg

Mr Pesach Neiman

The power to appoint new trustees is vested in the current board. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £ 1 in the event of a winding up.

KAHAL IMREI CHAIM LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

Auditor

In accordance with the company's articles, a resolution proposing that Glazers be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

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The trustees' r eport was approved by the Board of Trustees.

.............................. .............................. Mr Benjamin Goldberg Mr Pesach Neiman Trustee Trustee Date: .............................................

KAHAL IMREI CHAIM LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 SEPTEMBER 2022

The trustees, who are also the directors of Kahal Imrei Chaim Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

KAHAL IMREI CHAIM LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF KAHAL IMREI CHAIM LIMITED

Opinion

We have audited the financial statements of Kahal Imrei Chaim Limited (the ‘charity’) for the year ended 30 September 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice) .

In our opinion, the financial statements:

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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 charity’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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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.

KAHAL IMREI CHAIM LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF KAHAL IMREI CHAIM LIMITED

Matters on which we are required to report by exception

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

Responsibilities of trustees

As explained more fully in the s tatement of trustees' r esponsibilities, the trustees, who are also the directors of the charity for the purpose 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 charity’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.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor 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 an auditor's report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below .

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

2) Discussions among the engagement team regarding how and when fraud might occur in the financial statements and any potential indicators of fraud.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

KAHAL IMREI CHAIM LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF KAHAL IMREI CHAIM LIMITED

We also obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and the Charities Act 2011 .

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charity's ability to operate or avoid a material penalty.

As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud or non-compliance with laws and regulations.

In addition to the above, our procedures to respond to risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

We note that our audit is not primarily designed to detect non-compliance with laws and regulations and the Trustees and other management are responsible for such internal control as the Trustees and other management of the Charity determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to errors or fraud, including compliance with laws and regulations. Additionally, owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

.........................

Glazers

Chartered Accountants

Statutory Auditor

Glazers is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

KAHAL IMREI CHAIM LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2022

Unrestricted Unrestricted
funds
funds
2022
2021
Notes
£
£
Income and endowments from:
Donations and legacies 3 579,585
309,893
Charitable activities 4 21,953
-
Investments 5 150,905
154,128
Other income 6 -
155,732
Total income 752,443
619,753
Expenditure on:
Raising funds 7 8,167
-
Charitable activities 8 595,466
344,378
Total resources expended 603,633
344,378
Net income for the year/
Net movement in funds 148,810
275,375
Fund balances at 1 October 2021 3,149,531
2,874,156
Fund balances at 30 September 2022 3,298,341
3,149,531

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

KAHAL IMREI CHAIM LIMITED

BALANCE SHEET

AS AT 30 SEPTEMBER 2022

Notes
Fixed assets
Tangible assets
13
Investment properties
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
18
Net assets
Income funds
Unrestricted funds		 2022
£
£
2,179,885
1,176,868
3,356,753
82,695
335,711
418,406
(59,000)
359,406
3,716,159
(417,818)
3,298,341
3,298,341
3,298,341		 2021
£
£
2,113,836
1,176,868
3,290,704
50,437
349,958
400,395
(74,432)
325,963
3,616,667
(467,136)
3,149,531
3,149,531
3,149,531

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2022, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

The financial statements were approved by the Trustees on .........................

.............................. .............................. Mr Benjamin Goldberg Mr Pesach Neiman Trustee Trustee

Company Registration No. 03641012

KAHAL IMREI CHAIM LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2022

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
20
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash generated from investing
activities
Financing activities
Repayment of bank loans
Net cash used in financing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
(91,173)
150,905
(48,318)		 2021
£
£
£
(25,661)
181,322
(11,815)
154,128
59,732
142,313
(197,781)
(48,318)
(197,781)
(14,247)
125,854
349,958
224,104
335,711
349,958

KAHAL IMREI CHAIM LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

1 Accounting policies

Charity information

Kahal Imrei Chaim Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 121 Clapton Common, London, E5 9AB, England.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

KAHAL IMREI CHAIM LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings

25% RBM

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .

1.7 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

No depreciation is provided in respect of investment properties applying the fair value model.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its 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.

KAHAL IMREI CHAIM LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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.

Judgements made by the directors in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are as follows.

Property valuation

The valuation of the charity's investment property is subject to a degree of uncertainty, as the value depends on various factors including the nature of the property, its location and expected future net rental values, market yields and comparable market transactions, and particularly in times of maket volatility.

KAHAL IMREI CHAIM LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Donations and gifts 577,085 299,893
Grants 2,500 10,000
579,585 309,893
4 Charitable activities
Charitable
2021
Income
2022
£
£
Income from Mikvah 21,953
-
5 Investments
Unrestricted Unrestricted
funds funds
2022 2021
£ £
Rental income 150,672 154,128
Interest receivable 233 -
150,905 154,128
6 Other income
Total Unrestricted
funds
2022 2021
£ £
Redress re mis sold finance product - 155,732

KAHAL IMREI CHAIM LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

7 Raising funds

Unrestricted
Total
funds
2022
2021
£
£
Investment management costs 8,167
-
8,167
-
Charitable activities
Charitable
Charitable
Expenditure
Expenditure
2022
2021
£
£
Staff costs 37,405
30,676
Depreciation and impairment 25,124
3,107
Charitable expenditure 365,940
212,092
Management of the Mikvah 23,475
-
451,944
245,875
Grant funding of activities (see note 9) 115,506
87,784
Share of support costs (see note 10) 3,521
1,420
Share of governance costs (see note 10) 24,495
9,299
595,466
344,378

8 Charitable activities

KAHAL IMREI CHAIM LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

9 Grants payable

Grants to institutions:
CMA Community Nursery
One Heart - Lev Echod
Ohr Emes Ltd
Amud Hatzdokoh Trust
Tatzil Charitable Trust
Acheinu Cancer Support
Yismach Moshe Community Group
Ezer Mikoidesh Foundation
Other
Grants to individuals
-
10
Support costs
Support
costs
Governance
costs
£
£
Staff costs
2,496
-
Office Costs
1,025
-
Audit fees
-
1,200
Accountancy
-
14,300
Legal and professional
-
8,349
Bank charges
-
646
3,521
24,495
Analysed between
Charitable activities
3,521
24,495		 2022
£
2,496
1,025
1,200
14,300
8,349
646
28,016
28,016		 Charitable
Expenditure
2022
£
24,500
16,000
14,000
17,177
9,700
6,000
5,000
3,000
9,609
104,986
10,520
115,506
Support
costs
Governance
costs
2021
£
£
£
-
-
-
1,420
-
1,420
-
-
-
-
2,500
2,500
-
6,296
6,296
-
503
503
1,420
9,299
10,719
1,420
9,299
10,719

Governance costs includes payments to the auditors of £ 1,200 (2021- £ 1,200 ) for audit fees.

KAHAL IMREI CHAIM LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

11 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

12 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries		 2022
Number
7
2022
£
39,901		 2021
Number
5
2021
£
30,676

There were no employees whose annual remuneration was more than £60,000.

13 Tangible fixed assets

Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 October 2021
2,104,514
58,747
Additions
-
91,173
At 30 September 2022
2,104,514
149,920
Depreciation and impairment
At 1 October 2021
-
49,425
Depreciation charged in the year
-
25,124
At 30 September 2022
-
74,549
Carrying amount
At 30 September 2022
2,104,514
75,371
At 30 September 2021
2,104,514
9,322		 Total
£
2,163,261
91,173
2,254,434
49,425
25,124
74,549
2,179,885
2,113,836

The Freehold land and building is held at fair value which is determined by the trustees based on their understanding of the property market and the specific property concerned, derived from recent comparable transactions on the market. The historical cost is £1,877,283.

KAHAL IMREI CHAIM LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

14 Investment property

Investment property
2022
£
Fair value
At 1 October 2021 and 30 September 2022 1,176,868

The fair value of the investment property is determined by the trustees based on their understanding of the property market and the specific property concerned, derived from recent comparable transactions on the market . The historical cost is £543,128.

15 Debtors

Amounts falling due within one year:
Trade debtors
Other debtors
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year		 2022
£
77,145
5,550
82,695
2022
£
464,818
47,000
417,818		 2021
£
48,333
2,104
50,437
2021
£
513,136
46,000
467,136

16 Loans and overdrafts

The long-term loans are secured by fixed charges over the company's freehold properties.

17 Creditors: amounts falling due within one year

Notes
Bank loans
16
Trade creditors
Other creditors
Accruals and deferred income		 2022
£
47,000
-
4,800
7,200
59,000		 2021
£
46,000
17,995
7,937
2,500
74,432

KAHAL IMREI CHAIM LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

18 Creditors: amounts falling due after more than one year

Creditors: amounts falling due after more than one year
2022 2021
Notes £ £
Bank loans 16 417,818 467,136

19 Related party transactions

The charity received £3,145 from CMZ Ltd a charity in which one of the trustees of this charity is closely connected to.

There were no other disclosable related party transactions during the year (2021 - none) .

20 Cash generated from operations 2022 2021
£ £
Surplus for the year 148,810 275,375
Adjustments for:
Investment income recognised in statement of financial activities (150,905) (154,128)
Depreciation and impairment of tangible fixed assets 25,124 3,107
Movements in working capital:
(Increase)/decrease in debtors (32,258) 91,098
(Decrease) in creditors (16,432) (34,130)
Cash (absorbed by)/generated from operations (25,661) 181,322
21 Analysis of changes in net (debt)/funds
At 1 October Cash flows At 30 September
2021 2022
£ £ £
Cash at bank and in hand 349,958 (14,247) 335,711
Loans falling due within one year (46,000) (1,000) (47,000)
Loans falling due after more than one year (467,136) 49,318 (417,818)
(163,178) 34,071 (129,107)