Registered numbgr. l)4070371
Charlty number: 1083557
THE JOSEPH STOREHOUSE TRUST
(A company limited by guarantse)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

THE JOSEPH STOREHOUSE TRUST
IA company limited by guarantee)
CONTENTS
Page
Reforence and admlnlstratlve dètails of the company, Its Trust8es and advl8er8
Trusl•es' report
Independont auditors. report on the flnan¢ial ststom•nts
8-11
Consolidated Statement of Ilnancial activities
12
Consolldatod balance sheet
13
Company balance shoot
14
Consolldat¢d statement of cash flows
15
Note8 to the flnancial Statements
16-34

THE JOSEPH STOREHOUSE TRUST
IA company limited by guaranlge)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustoes
Mr 8 Segal
Mrs B Segal
MrAMScott
Mr R Overton-smrth
Mr T S Beasley
Company rogisternd number
04D70371
Charity registered number
1083557
Registered offKo
3 Newhouse Busir£ss Centre
Old Crawley Road
Horsham
Wesl Sussex
RH12 4RU
Independent audltor8
Baldwin Scofield Ltd
Chartered Accountants
Statutory auditors
3 Newhouse Business Centre
Old Crawley Road
Hor5ham
Wesl Sussex
RH124RU
Bankgrs
Natwest Bank plc
84 Commer￿al Road
Swindon
Wif(shire
SN1 5NW
Lloyds Bank plc
Bimiingham OSC4
Ariel House
2138 Coventry Road
Brimingham
B26 3JW
Page 1

THE JOSEPH STOREHOUSE TRUST
IA company limited by guarJntg9)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their annual report together with the audited financial statements of The Joseph
Storehouse Trust for the year ended 31 December 2023. The Annual report serves the purposes of both
Trustees. report and a directors, report unller company law. The Trustees confirm that the Annual report and
financial statements of the charitable company comply with the current statutory requirements, the requirements
of the charitable company's goveming document and the provisions of the Statement of Recomrnended Pra¢li¢e
ISORPI appliCa￿e to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS1021 (effective 1 January 20191.
Oblectlves and actlvities
Pollcles and objectives
The Joseph Storehouse Trust is a humanitarian aid organisalicn with aims to raise awareness and financial aid
to help meet the Physrcal, Educational and Spiritual needs of communities as identrfied by the trusteès. The
charity also seeks to educate Feople in the UK on the needs ot Israel and the Middle East through a variety of
media.
In Setting objectives and planning for actwilies, the Trustees have given due consideration to general guidance
published by the Charity Commission ￿lating lo public benefi't. including the guidance 'Public benefit. running
charity {PB21'.
Publle bongfit
The main activities of the charity are described under 'Achievemenls and performan￿,. All the charitable
activities are undertaken lo further our charttable purposes for the public tenefit. The Trustees confirm that they
have complied wrth the duty in section 17151 of the Charities Act 2011 to have due regard to publ￿ benefit
guidan￿ published by the Charity Commission.
Volunloors
Volunteers IElp in rninistry activrties including assisting at meets'ngs and cOnf￿nCeS, where they a55iSt with the
registration desk, catering. Stage arrangements and looking after guest speakers.
Stralegic report
Achlevemonts and pgrfornmnce
Revlew of a￿1ville$
The Trustees telieve the charity has fulfilled ils aims in 2023 by providing significant financial contributions to
5UPPOrt projects in Israel and raising awareness of Israel's current issues and through ils ministry work in the UK
and around the workj. Proiecls include providing help to Holocaust Survivors, the long running 'Pack to Sch(M)I'
programme which provides children with all school essentials such as books, wrrting implements and a satchel,.
and also the important supply of ambulances and first responder medicycles lo the region. Full details of all our
humanitarian aid projects appear on the Trust's website and in our regularty produced 'lmpact Reporf beafiet.
Awareness in the UK has been achieved previousty by holding conferences and maetings throughout the year.
These meeting5 were held during the pandemic by using Zoom technology, but since 2022 we have been able to
again hold a Feast of Tabernacles conference in the UK, but monthly meetings have still been hdd on Zoom.
Through extensive and increasing use of Christian Television, the charity has extended its leaching and
education about15rael and the Bible to a much wider audience.
Page 2

THE JOSEPH STOREHOUSE TRUST
(A company limited by guarantoe)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
strategic report Icontlnuedl
Achlevements and perfornmnce Icontinuedl
Supporters were kept infomed of the aclivib'es of the charity with regular monthty mailings. These mailings
focused on the Vari￿1$ projects and the work the charity wa5 doing. Partners responded well to these mailings
during 2023 producing an increase in donations over the year, and we appreciate the level of donations received
given the current difficult condits'ons.
During 2023 the charty conb'nued broadcasting on both UK and IntemalK)nal Christian Television Channels. The
series, Roots and Reflections, provides religious, cultural and historiGal information that reinforces the work of
the charity and generates new partngr5 and supporters.
The website for the UK charity, www.josephstorehou5e.co.uk, conb'nued to prove a valuable option for
Supporte￿ who want to donate 'online'. The website is regularly updated lo show current news and information
about the charity's aclivitres.
We view our teaching on our Judeo-chrisb'an roots as of equal importance lo providing humanitarian aid lo the
poor and needy (both Arab and Jew) so are pleased with the continued success of our television and educational
programmes.
The Board of Trustees have for many years supported the idea of building a rninistry centre. humanitarian aid
warehouse and educational and media centre in Israel. The Millennium Commercial Centre Modiin Limited,
ich opened for occupancy and operations in 2018, continues to be our adrninistrative and warehouse base
and is increasingly used for 8 Variety of humanitsrBn aid projects and functions.
The truslees ￿ceiVed advice in Israel that for littk addrtional cost a building in excess of our needs could be
constructed and partty to a tenant. As a result we have formed a wholly owned subsidiary company and lent it
funds for the construction. The building is not regarded by the trustees as an investment but as fvrthering our
wrFose as 8 charity. The accounts of this subsidiary are incorporated in these accounts.
Since December 2014 the administration of Joseph StO￿hOUSe has continued to be carried out'in house, by our
own team based in Swndon. We have found this to be the most economical and effective way of carrying out our
UK administ￿tIOn. During 2020 the lease of premises in Swindon came lo an end, and rather than renew the
lease as trustees we assessed that it would be financially benefiaal to locale and purchase our own more
suitable property. This was completed and 18 now in fvll C￿￿pation.
Fundralsing actlvftles and Income gonoration
The charity does not use a professional fund-raiser or commercial participator for fund raising purposes. A
t8levi5ion programme, Roots and Refflect￿ns, is broadcast on Christian TV that invites people to the ¢harity's
meetings (which are now held on Zoom), and to make donations online. Viewers are invited to sign up as
members, or Vision for Israel Partners. and are sent a rnOnth￿ newsleller. The chanty never makes any attempt
to canvas for money from people who do not engage with the organi5ation either by attending the char￿S
meetings, in person or online, or by calling the charity following their watching of Roots and Reflections.
Page 3

THE JOSEPH STOREHOUSE TRUST
IA company limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Strateglc report (continued)
A¢hievements and performance l¢ontlnu¢d)
Invoslment policy and perfomiance
The Joseph Storehouse TrLSSt bankers are Lloyds and Na￿eSt. The Trust has current accounts and interest
earning deposit accounts.
The charity has knt funds to ils subsidiary company, amounting to £7,979,893 at 31 Deeember 202312022..
£7.979,893} Of this £7,132,22812022: £7.132,2281 has t*en loaned under Capital Notes, which are interest
free and will not be repaid before 31 December 2024. The balan￿ of £847,665 is covered by a loan agreement
under which no interest is charged and there is no fixed repayment date.
Financial review
Golng concern
After making appropriate enquiries, the Trustees have a reasonable expectatton that the company has adequate
resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt
the going concem basis in preparing the financial ststements. Further details regarding the adoption of the going
concern basis can be found in the accounting poli¢ies.
Result8
Our resaves policy 15 for funds to be kept separately as unrestricted and restricted in line vthh the purposes for
which the funds were donated.
The funds may be invested as deemed appropriate by the Board of TrusteeslDireclors, so long as the income
and funds of the Charitable company are applied towards the promotion of its principal activitieslobjectives as set
out atr¥JV8. At the year-end 31 D￿rnber 2023, the unrestricted reserves for The Joseph Storehouse Trust were
£4,547,S67 {2022'. £4,290,111), and for the group as a whole We￿ £4,193,568 {2022.' £3,827.1491. which we
deemed sufficient to meet the charivs needs.
At the year end restricted reserves for the group totalled £4,308,643 12022.. £4,258.401). This includes
restricted fund of £4,260,511 relab'ng lo the Millennium Centre building. This propety is included in fixed assets
at a cost of £7,930,246 at 31 December 2023. The accounts of the subgdiary company The Millennium
Commercial Centre in Modiin Limited are prepared in its fvnctional currency of Israeli New Shekels and include
the land and buildings owned by the group, wth a translated cost al 31 De￿mber 2023 of £7,930,246.
Overall the fund5 held by the group have increased by a total of £416.861 {2022.' decreased by £161,132) dunng
the year ended 31 December 2023.
Trade creditors
The company's current policy conceming the payment of trade ¢redrf(ors is to.
settle the tems of payment with Sltppliers when agreeing the terms of each Iransactton.,
ensure that suppliers are made aware of the tems of payment by inclusion of the relevanl temis in
contrxts., and
pay in accordan￿ with the companls contractual and other legal obligations.
Page 4

THE JOSEPH STOREHOUSE TRUST
IA company Ilmited by guarantoe)
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Princlpal rlsks and uncertalnties
The trustees have assessed the major risks lo which the charity is exposed. and are satisfied that systems are in
place to mitigate exposure lo the major risks. The Board of Trustees on an ongoing basis regularly review the
financial 8nd operational risks etc. lo which the Charity is exposed and strive to ensure compliance with all laws
and regulations.
Structure, gov¢rnan¢o and management
Constftution
The Joseph Slcrehouse Trust is registered as a Charitab￿ company limited by guarantee and was set up by a
Memorandum of Ass¢xiation.
Methods of appolntm•nt or election of Trustees
The management of the Group and the company is the responsibility of the Trustees who are elected and cc
i)pted under the terms of the Memorandum of ASs￿lation.
The trustees are elected onlo the board of trustees al board meetings following recommendations from existing
trustees. Training is provided to trustees where the Board of Trustees considers it to be approprrate
Oryanl$atlonal structure and declslon-making policies
Much of the day to day management of the charity is carried out by Susie Gray, who martages the UK offi￿,
including all finance and administration. The Trustees a￿ responsible for overseeing aid distribution, marketing,
media and presentations. The Trustees lay down frameworks for all acb'vity including agr88ing activrty,
expenditure and budgets. Susie Gray manages the day to day activities on the Trustees, behalf, liaising with
Trustees on a regular b8S15. She also reports monthw to the Trustees on key activities and provides regular
income and administration reports. Board meetings are held during the year where all income and expendrture,
planning and future devebpments are discussed and agreed.
Bafry Segal manages the activities of the subsKliary undertaking, The Millennium Commercial Centre in Modiin
Limited. and he is a trustee of both this company and of the Joseph Storehouse Trust.
Co-operathie ¢haritles. related partles and subsldlary undortakings
The tharity works closely with Vision for Israel, which is a charty based in Israel. This charity works towards the
same goals as The Joseph Storehouse Trust and works within the same area$ of Israel, co-operating on both
projects and methods of distributing aid lo the needy. Most of the charitable gNing of The Joseph Storehouse
Tnjst is paid via Vrsion for Israel for onward paymert for the relevant Chantable purposes. Barry Segal is
Trustee of both The Joseph Storehouse Trust and of Vision for Israel. Batya Segal is a Trustee of The Jos8ph
Storehouse Trust and is employ&J by Vision for Israel to manage the aid operations.
There is one subsidiary undertaking, The Millennium Commer¢lal Centre in Modiin Limitsd. This is a trading
company registered in Israel, and is 1000kn owned by The Joseph Storehouse Trust. This company 90% of
the land at a site in Israel purchased wth the intention ol building a ministry centre, humanrtarian aid warehouse
and educational and media centre. The other 10% of this land is 0￿ed by Vision for Israel, as detsiled above.
This building has been built jointty by this company and Vision for Israel, and con$lru¢tion ¢ommen¢ed in earty
2014. The intention was that the company would then rent part of its share of the building to Vision for Israel and
rent the rest to third parties. The accounts of the company show a loan from The Joseph Storehouse Trust,
which was used to purchase the land and pay for construction work, with the balan￿ held in a bank 2¢count and
investments al the year-end.
Page 5

THE JOSEPH STOREHOUSE TRUST
IA company Ilmlted by guarantefrl
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Structure. governance and management Icontinuedl
Employees
The Charty's wlicy 1$ to consutt and discuss with employees matters likety to affect employees, interests.
Inform81icJn and matters of concern lo employees is provided through regular conlaet with the trustees who seek
to achieve a common awareness on the part of all employees of the financial and economic factors affecting our
work and lo promote their involvement in our aims.
Applications for employment by d1$al￿ed perwns are afways fully considered, bearing in mind the aptitudes of
the applicant concemed. In the event of members of staff becoming disabled, every effort will be made to ensu
that their employment within the charity continues and the appropriate training arranged. It is the FX)licy of the
charity that the training, career development and promotion of disabled persons should, as far as possible. be
identul lo that of other employees.
Plans for future periods
The charity's plans for the future are..
to increase project funding to Israel to help meet growing needs
to work closer wth Vision for Israel to ensure growth of the Israel organisation in line with futu
developments
to finalise development of the Millennium Centre Building
to continue to improve quality and reach of media lo both educate and promote the charity
to extend coverage of the series 'Roots and Reflections. wf(h the aim of reaching a wider worfd-wide
audien
to consider filming a new TV series similar to Roots and Reflections but dealing with wider issues
to build closer relationships with the Vision for Israel Partners of the charity.
Members. liability
The Members of the company guarantee to contrbute an amount not exceeding £1 to the assets of the company
in the event of winding up.
Page 6

THE JOSEPH STOREHOUSE TRUST
(A company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Statement of Trustees. rosponslbllltles
The Trustees (who are also the directors of the company for the purposes of company lawl are responsible for
preparing the Trustees, report including the Strategic 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 Tnjstees to prepare financial statements for each financial year. Under company law,
the Trustees musl not approve the financial slalements unless they are sats'sfied that they give a true and fair
view of the state of affairs of the Group and the company and of their incoming resources and appli&ilion of
resources, including their income and expenditure, for that period. In preparing these financial staternents, the
Trustees are required to..
select suitable accounting p)licies and then apply them con$islenYy',
observe the rnethods and principles of the Charities SORP IFRS 1021".
make judgments and accounting estimates that are reasonab￿ and pnJdent'.
state whether applicable UK Accounting Standards IFRS 1021 have been followed. subject to any material
departures diselosed and explained in the financial statements..
prepare the financial statements on the going ¢on¢ern basis unless it is inappropriate to presume that the
Group will continue in busin&s5.
The Trusl&es are responsible for kee￿ng adequate a￿ountIng records that are sufficient to show and explain
the Group and the companrfs transactions and disclose with reasonable accuracy at any b'me the ffinancial
posrtion of the Group and the Company and enable them lo ensure that the financial statements compty wtth the
Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the company and
hence for taking reasonable steps for the prevention and detectw)n of fraud and other iT￿gularitieS.
Disclosure of InfO￿atIOn lo auditors
Each of the persons who are Trustees at the time when this Trustees, report is approved has confimed thaL'
so far as that Trustee is aware, there is no relevant audit infomiation of which the charitable group's
auditors are unaware, and
that Twslee has L8ken all the steps that ought to have been taken as a Trustee in order to be aware of
any relevant audit informatk)n and to establish that the charitable group's audrtors are aware of that
inform*'on.
Auditors
The auditors, Baldwin Scofield Ltd. have induted their willingness to continue in office. The designated
Trustees wll propose a mOt￿n reapFointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees on 18 September 2024 8nd signed on their beha
by..
MrAMScott
Page 7

THE JOSEPH STOREHOUSE TRUST
(A company limited by guarnntee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE JOSEPH STOREHOUSE TRUST
Opinion
We have audited the financial statements of The Joseph Storehouse Trust Ithe 'parenl charitable company'l and
its subsidiaries (the 'group'l for the year ended 31 December 2023 which comprise the Consolidated statement
of financial activrties. the Consolidated balance shee( the Company balance sheet, the Consolidated statement
of cash fflows and the related notes, 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK
and Republic of Ireland, (United Kingdom Generally Accepted Accounting practi￿).
In our opinion the financial statements..
give a true and fair view of the stale of tre Group's and of the parent charitable company's affairs as at 31
De￿rnber 2023 and of the Group's incoming resources and application of resou￿$, including its income
and expenditure for the year then ended.,
have been property prepared in accordan￿ with United Kingdom Generalty Accepted Accounting
Practice: and
have been p￿Pared in accordance wth the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with Intefflational Standards on Auditing IUKI {ISAs (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial ststements 5eclK*n of our report. We are independent of the Group in accordance wtth the ethical
requirements that are relevant to our audit of the financial statements in the United Kingdom, including the
Financial Reporting Council's Ethical Standard, and we have fu¢filled our other ethical responsibilities in
accordance with these requirements. We believe that the aLKlit eviden* we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Con¢lu$ions relating to going concern
In auditing the financial statement5, we hav8 conduded that the Trustee5' use of the going concern basis of
accounting in the preparab'on of the ffinancial statements is appropriate.
Based on the work we have perfomed, we have not identsfied any material Un￿rtaInlieS relating to events or
conditions that, individually or colleth"vety, may cast significanl doubt on the Group'5 Qr the parent charitable
company's ability lo continue as a going concem for a peri¢xI of at least tsvelve months from when the financial
ststements are authorised for issue.
Our ￿SpOnsibl[l￿eS and the responsibilities of the Trustees wth resFect to goirrfJ ccncem are describei1 in the
relevant seCt￿n$ of this report.
Page 8

THE JOSEPH STOREHOUSE TRUST
IA company limited by guarantoel
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE JOSEPH STOREHOUSE TRUST
{CONTINUEDI
Othgr informatlon
The other infomiats'on compri5e5 the infomiab'on included in the Annu81 report other than the financial statements
and our Auditors, report Ihereon. 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. except to the
extent otherwse explicilty staled in our report, we do not express any form of assurance conclusion thereon. Our
responsibility is lo read the other information and, in doing so, consider whether the other infomiation is
materially inconsistent with the financial statements or our kno￿edge obtained in the course of the audit, or
otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material
misslalements, we are required lo determine whether this gives rise to a material misstatement in the financial
ststements themselves. If, based on the work we have performed, we conclude that there is a material
misststemenl of this other infomiation, we are required to report that fxt
We have nothing to report in this regard.
Matter¥ on which we are requlred to report ty exceptlon
We have nothing to report in respect of the foll¢Jwing matters where the Charities (Accounts and Reports)
Regulab'ons 2008 requires us to report to you if, in our oplnion..
information given in the Trustees, report is inconsistent in any material resFect the financial
ststemenls,. or
the parent Charitable company has not kept sufficient accounting records", or
the parent charitsble Company financial statements are not in agreement wth the accounting rewrds and
returns.. or
we have not received all the information and explanations we require for our audit.
Responsibilltles of tru$le
As explained more fulty in the Trustee5' responsibilities statement, the Trustees (who are also the directors of the
charitable company for the purpose5 of cornpany lawl are responsible for the preparab'on of the financial
$tatements and for being satisfied Ihal they give a true and fair view, and for such intemal control as the
Trustees determine is necessary to enable the weparation of finanGial statemen15 that are free from material
misstatement, whether due lo fraud or error.
In preparing the financial staternents, the Trustees are responsib￿ for assessing the Group's and the parent
charitable companls ability to continue as a going concern, disclosing, as applicable, matters related to going
concem and using the going ¢oncem basis of accounting unless the Trustees either intend to liquidate Ihe Group
or the parent charitsble ¢omp?ny or to cease operations. or have no realistic altemative but to do so.
Page 9

THE JOSEPH STOREHOUSE TRUST
IA company limitod by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE JOSEPH STOREHOUSE TRUST
(CONTINUED)
Auditots. responslbllltles for the audit of the financlal 81atements
We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordan(* with
the Act and relevant regulations made or having effect thereunder.
Our objectives are lo obtain reasonable assuran￿ about whether the financial statements as a whole are free
from material misstslement, whether due lo fraud or error, and lo issue an Auditors, report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance wrth ISA5 {UKI will a￿ayS detect a material misstatement when il 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 econom￿ decisions of users taken on the basis of these financial statements.
IrregularitEs, including fraud, are in$tan¢es of non-compliance with laws and regulations. We design pr￿dureS
in line with our responsibilrties, outyined above, to detect material misstslements in respect of irregularities,
including fraud. The extent to which our prcKedure5 are capable of detecb'ng irreguLqrities, including fraud is
detailed bek)w.
We obtained an understanding of the legal and regulatory frameworks that are applicable to the charitable
company and determined that the m05t significant are those that relate lo the reporting framework in conformity
ilh the requirements of the Companies Act 2006 and the relevant direct and indirect tax Complian￿ regulations
in the United ￿'ngdOm.
We understood how The Joseph Storehouse Ttust is comptying with those frameworks by making enquiries of
management to understand how the charitsble ¢ompany rnaintsin5 and coMmun￿ateS ils policies and
procedure5 in these areas and corroborated this by reviewng supporting documentsts'on and minutes of
meetsngs of those charged with governance.
We assessed the suscepts'bility of the charrtable Company's financral statements to material misststement,
I￿ludIng how fraud might occur by considering the risk of management override to be a fraud risk. In addition.
we Considered the risk of management override by sampling from the entire population of joumals. identsfying
$pe¢ifi¢ transacts.ons which did not meet our expectstions based on sFeafic crrteria aTrJ invests'gated these to
gain an understanding and then agree back lo source documentation.
Based on thrs understanding we designed our audit procedures to identify rrfjncompliance wth such laws and
regulations. Our prC￿edureS involved verifying that material transactions were recorded in Complian￿ with
Financial Reporting Standards and Charities SORP in Confomiity wth the requirements of the Companies kt
2006.
A further description of our responsibilitse$ for the audit of the financial $tstements is located on the Financial
Reporting Council's website at.. www.frc.or
.ukJauditorsres
onsibilitie
This description fomis part of our
Auditors, report.
Page 10

THE JOSEPH STOREHOUSE TRUST
(A company limited by guarnnteel
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE JOSEPH STOREHOUSE TRUST
ICONTINUEDI
Usè of our report
This report is made solely to the charitable company's trustees. as a body, in accordance with Part 4 of the
Charities (Accounts and Reports) Regulation5 2008. Our audit work has been undertaken so that we might State
lo the charitable company's trustees those matters we are required to state lo them in an Auditors, report and for
no other purpose. To the fullest extent permitted by law, we do not a¢¢ept or assume responsibility to anyone
other than the charitable company and its members, as a ￿dy, for our audit work, for this report, or for the
opinions we have ft)rrned.
Baldwln Scofield Ltd
Chartered Accountants
Statutory auditors
3 Newhouse Business Centre
Old Crawley Road
Horsham
West Sussex
RH124RU
18 September 2024
Baklwn Scofield Ltd are eligible to act as audilixs in terms of 5￿tIOn 1212 of the Companies A¢t 20C6.
Page11

THE JOSEPH STOREHOUSE TRUST
A company Ilmlted by guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND
EXPENDITURE ACCOUNT}
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestrlcted
funds
2023
Restrlcted
fund6
2023
Total
funds
2023
Total
funds
2022
Nots
Income from:
Donab'ons and legacies
Charitable activities
other trading activities
Investsnents
883,481
19,817
459.785
15,1)66
448.693
1.332,174
19,817
459.785
15,066
1,066,637
18.292
321.443
(67.945)
Total In¢ome
1.378,149
448.693
1,B26,842
1,338.427
Expenditure on:
Raising funds
Charitable aGtivities
363,674
566.507
363,674
1.046.507
340.358
1. 159,201
480.000
Totsl gxpgnditure
930,181
480,000
1N10,181
1,499.559
Net Incomo11gxpenditure)
Transfers be￿een funds
447.968
(81.549)
131.307
81,549
416.661
(161. 132)
16
Net movement In funds
366,419
416.661
(161. 132)
Reconciliation of fund8-
Total funds brought foTr￿rd
Net movement in funds
3,827,149
366,419
4,258,401
50.242
8,085,550
416,661
8,246.682
(161, 132)
Total funds carried forward
4.193.568
4,308,643
8,502,211
8,085,550
The ConsolKlated statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 16 to 34 form part of these financial statements.
Page 12

THE JOSEPH STOREHOUSE TRUST
{A company limited by guaranleel
REGISTERED NUMBER: 04070371
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Note
Fixed assets
Tangible assets
Investments
Current assets
12
13
7,331.642
151.213
7,444, 167
38,835
Debtors
Cash at bank and in harKI
14
87,038
978,708
60,335
5T4,560
1.065,746
634.895
Cfeditors.. amounts falling due wrthin one
year
15
146?90)
(32,347)
Net curr•nt assets
1,019,356
602.548
Total n•t assets
8.502,211
8.085,550
Charity funds
Restrrted funds
Unrestricted funds
16
16
4.308.643
4,193,568
4,258,401
3,827.149
Total funds
8,502,211
8,085,550
The company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance wth section
476 of the Companies Act 2006.
However, an audit is required in accordance with seclion 151 of the Charib'es Act 2011.
The Trustees acknowledge their re5ponsibilitses for comptying with the requirements of the Act wth respect to
a¢￿￿ntIng rec¢Jrds and p￿paration of financial statements.
The financial statements have teen prepar&J in accordan￿ with the provisions applicable to 8ntities subject to
the small companEs regime.
The financial Statements were appmved and authorised for rssue by the Trustees on 18 September 2024 and
signed on their
Mr R Overton-smtth
The notes on page$ 16 to 34 forrn part of these financial statements.
Page 13

THE JOSEPH STOREHOUSE TRUST
(A company limited by guaran¢g0)
REGISTERED NUMBER: 04070371
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Note
Fixed asset5
Tangible assets
Investments
Current as$&ts
12
240,492
245,598
13
Debtors
Cash at bank and in hand
14
,062,409
582,206
8,019.635
292,884
8,624,615
8,312.519
Creditors.. amounts falling due within one
year
15
(8,898)
(9,606)
Net current as$gt8
8.615,717
8,302.913
Total net assets
8.856,210
8,548.512
Charity funds
Restricted funds
un￿striCted funds
16
16
4,308.64J
4.547.567
4,258.401
4.290,711
Total funds
8,856,210
8,548,512
The companys net movement in funds for the year was W307,698 (2022- £(74,272)).
The company was entitled to exemption from audit under seth'on 477 of the Companies Act 2006.
The members have not required th8 entity lo obtain an audr( for the year in quests'on in a￿ordanCe with section
476 of the Companies Act 2006.
However, an audit is required in accordance with section 151 of the Charities Art 2011.
The Trustees acknowledge their ￿pOnsIbIlitieS for com￿y1￿j with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have ken prepared in a￿ordan￿ with the provisions applicable to ent￿e$ subject to
the small companies regim8.
The financial statements were approved and authorIs￿ for issue by the Trustees on 18 September 2024 and
stgned on their
alfb
o. 6.0
Mr R Ovorton-smllh
The notes on pages 16 to 34 form part of these financial statements.
Page 14

THE JOSEPH STOREHOUSE TRUST
(A Company limited by guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Cash flows from oporating activltles
Net cash used in OFerating acts'vilies
573.246
76,224
Cash fl¢)ws from Investing actlvities
Proceeds from the sale of investments
Purchase of tsngible fixed assets
(112.3781
156,7201
283.859
{326. 117)
Net cash used in inve8tlng a¢tlvitigs
(169.0981
{42.258)
Cash Ilows frorn financing a¢tivitie$
N&t cash provlded by flnancing actlvitie8
Change in cash and cash equfvalents In the year
Cash and cash equNalents at the beginning of the year
404,148
S74,$60
33,966
540.594
Cash and cash equlvalonts at the end of the year
978,708
574,560
The note5 on pages 16 to 34 form part of these financial ststements
Page 15

THE JOSEPH STOREHOUSE TRUST
IA company limitgd by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
A¢counling policles
1.1 Basis of preparatlon of financial statements
The financial statements have been prepared in accordance wth the Charities SORP {FRS 1021 -
Accounting and Reporting by Charities.. Slaternenl of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
The Joseph Storehouse Trust meets the definits'on of a public benefit entity under FRS 102 Assets
and Ik8bililies are inib.ally recognised at historical cost or transaction value unless otheThvise stated in
the relevant accounting policy.
The Consolidated statement of finanaal actThiits'es ISOFAI and Consolidated balance sheet
consolidate the financial statements of the Group and its SubS￿lary undertaking. The results of the
subsidiary are consolidated on a line by line basis.
The Group has tsken advantage of the exemption allowed under section 408 of the Companies knt
20C6 and has not presented ils own Statement of financial activities in these financial statements.
1.2 In¢orne
All income is recognised On￿ the company has entitlement to the income. it is probable that the
income will be received and the amoLrnt of income receivable can be measured reliably.
Income tax recoverable in relat￿n to donations received under Grft Aid or deeds of covenant is
recognised at the b.me of the donation.
1.3 Expendlture
EX￿ndItUre is recognised once there is a legal or construGlive obligation lo transfer economic benefit
to a third paty. it is probable that a transfer of ￿noMiC benefits will be required in settlement and
the amount of the obligat￿n can be Measured reliabty. Expendilure 6 dassified by activity. The costs
of each activity are made up of the total of direct costs and sha￿d costs, including support CA)sts
involved in undertaking each activity. Dire¢l costs 8ttributsb￿ lo a single activity are althated d1￿Ctty
to that activity. Shared Costs which contribute to more than one activity and support costs which are
not attributsble to a single activity are app)rtioned betmeen those activities on a basis consistent with
the use of resources. Central staff costs are all(xaled on the basis of time spent. and depreciation
harges allocated on the portion of the assevs use.
Expendtture on charitable aclimlies Is incuffed on direcuy undertaking the actrvities which further the
Group's objectives. as well as any associated support costs.
Grants payable are Charged in the year when the offer is made except in those cases where the offer
is conditional, such grants being recoanised as expenditure when the conditions attaching are
fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a
commitmen( but not accrued as expenditure.
Atl expenditu￿ is inclusive of irrecoverable VAT.
1.4 Int&rnst feceivable
Interest on fijnds held on deposit is included when r￿4Vable and the amount can be measur&
reliat￿Y by the Group,- this is nomially upon nots'ficab'on of the interest paid or payable by the 1nstitLjt￿n
with whom the funds are deposited.
Page 16

THE JOSEPH STOREHOUSE TRUST
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies {contlnued)
1.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capitalL8ed and reccgnised when future economic
benefits a￿ probab￿ and the cost or value of the asset can be measured reliably.
Tangible fixed assets are inits'ally recognised al cost. After reccgnition. under the cost model, tangible
fixed assets are measured at cost les5 accumulated depreciation and any accumulated impaiment
losses. All costs incurred to bring a tsngible r￿ed asset into ils intended working condition should te
included in the measufement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, using the straight-line method and reducing balance as follows.
Depreciation is provided on the folknwing basis..
Freehold propety
Plant and machinery
Fixtures and fittings
2Yo straight line
300h reducing bala[￿e
30% reducing balance
1.6 Investments
Fixed as58t investments are a form of financial in5trum8nt and are initially reo)gnised at their
transacb-on cost and subsequently measured at fair value at the Balance sheet dale, unless the value
cannot be measured reliably in which case it is measured at cost less impaimienl. Investment gains
and losses, whether realised or unrealised, ar8 combined and presented as 'GainsllL05sesl on
investments. in the Consolidated statement of financial activrties.
Investrnents in subsKliaries are valued at cost less provision for impaiment.
1.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amounl prepaid net of any trade discounts due.
1.8 Cash at bank and In hand
Cash at bank and in hand includes cash and short-tem highty Itquid investments wth a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar attount.
1.9 Llabilities and prov151ons
Liabilities are recognised when there is an obligation at the Balance sheet dale as a result of a past
ever¢( it is probable that a transfer of economic benefit will be required in settlemenL and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company ant￿1pateS ft will pay to settle the debt or
the amount it has received as advanced payments for the goods or Serv￿ it must provide.
Provisions a￿ measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material. the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specrfic to the liability. The
unwinding of the discount 15 recognised in the Consolidated statement of financial actnif(ies as a
finance cost
Page 17

THE JOSEPH STOREHOUSE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies {continued)
1.10 Pensions
The Group operat85 a defin￿ contrtbution pension scheme and the pension charge represents the
amounts payable by the Group to the fund in respect of the year.
1.11 Fund accounting
General fvnd5 are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Group and wh￿h have not been designated for other
purposes.
Restricted funds are fund5 which are lo be used in accordance wth specffic restn'ctions imwsed by
donors or which have been raised by the Group for part￿ular purposes. The costs of raising and
administering such funds are Gharged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated lo the appropriate fund.
Incomo from donations and lega¢i95
Unrestricted Restrfcted
funds
funds
2023
2023
Total
funds
2023
Donations
883.481
448,693
1,332,174
Unrestricted
funds
2022
Restricted
funds
2022
Total
funds
2022
Donab'ons
874, 659
191,978
1,066,637
Income from charitable a¢liviti•s
Unrn5tricted
funds
2023
Total
funds
2023
Income from charitable a¢b'vitie5
19,817
19,817
Page 18

THE JOSEPH STOREHOUSE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Income froffl charitsble activlties Icontlnuedl
Unrestricted
funds
2022
Total
funds
2022
Income from charitable activities
18,292
18.292
Income from other tradlng act5vltle8
Income from non charitable Iradlng actlvltles
Unrestrlcted
funds
2023
Total
funds
2023
Rent receivable
Other Ir￿Me
419,989
39,796
419,989
39,796
Total 2023
459.785
4S9,785
un￿Stri￿d
funds
2022
Total
funds
2022
Rent receivab
Other income
300,922
20.521
300.922
20,521
321,443
321,443
Page 19

THE JOSEPH STOREHOUSE TRUST
IA company limit•d by guar•ntw)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Investment Income
Unrestrlcted
funds
2023
Tolal
funds
2023
Investment income
Interest recewable
Profiullossl on investments
2,214
6,876
5,976
2,214
6,876
5.976
Total 2023
15,066
15.066
Unr8str7cted
funds
2022
Total
ftinds
2022
Profivllossl on investments
(67.945)
(67,945)
Anatysb of grants
Grants to
Inslitutlon5
2023
Total
funds
2023
Grants for charitable purFoses
726,2C
726.200
Grdnts to
Institutions
2022
Total
fvnds
2022
Grants for charitable purp)ses
847,500
847,500
Page 20

THE JOSEPH STOREHOUSE TRUST
(A company limited by guarant8•1
NOTES TO THE FINANCIAL STATEMETrirs
FOR THE YEAR ENDED 31 DECEMBER 2023
Anatysis of gxpendlture on charltsble activltles
Summary by fund type
Unrestrlcted Rostricted
lunds
funds
2023
2023
Total
2023
Direct costs - Charitable activities
566,507
480.000
1,046,507
Unrestricted
funds
2022
Restrirted
funds
2022
Total
2022
Direct costs - Charitable acts'vith'es
523,201
636,000
1, 159.201
Page21

THE JOSEPH STOREHOUSE TRUST
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Anatysl$ of oxpendlturo by a¢th*ltle8
Actlvltlos
undertaken
directly
2023
Grant
funding of
aCt￿ltIeS
2023
Support
costs
2023
Totsl
funds
2023
Direct costs - Charitable activities
217,593
726.200
102.714
1,046,507
Activify85
undertaken
dI￿￿{Y
2022
Grant
funding ol
a¢tivib"es
2022
Support
costs
2022
Total
fvnds
2022
Direct costs- Charitable aclivib'es
211,484
847.500
100,217
1. 159,201
Anatysls of dlrect costs
Total
funds
2023
Total
fvnds
2022
PrTrJuct purchases
Printing, postsge and mailing c05tS
cOnfere￿e exF*nses
Media expenditure
Travel and axommodation
Legal and consultancy fees
Trustee expenses
Other charitable expenses
SA59
28,S36
3,174
20.051
12,765
71,653
249
74,014
29,548
66.086
95
78,927
29,959
57
Total 2023
217,593
211.484
Page 22

THE JOSEPH STOREHOUSE TRUST
(A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Anatysis of expenditure by a¢tivili0s (continued)
Analysls of support costs
Total
funds
2023
Total
funds
2022
Staff costs
Rent. rates, water 2nd insuran
Warehouse expenses and repairs
Telephone. light and heat
Printing, postage and stationery
Computer expenses
Bank charges
Governan￿ costs
52,174
5,295
1,943
4,461
3,956
4,365
15,412
15.108
48,540
5.344
4,404
3,361
5.523
7,664
10,516
14,865
Total 2023
102,714
100.217
Audltors, remuneratlon
2023
2022
Fees payable to the company's auditor for the audit of the companls
annual acc4)unts
8,700
8,ILK*
Page 23

THE JOSEPH STOREHOUSE TRUST
IA company limited ty guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
10. Staff cos15
Group
2023
Gmup
2022
Company
2023
Company
2022
Wages and salaries
Contribution to defined contribution Fension
schemes
50,331
46,879
50,331
46,819
1043
1. 721
1,843
1.721
52,174
48.540
52,174
48,540
The average number of Fersons employed by the company during the year was as follows..
Group
2023
No.
Gmup
2022
No.
Company
2023
No.
Company
2022
No employee received remuneration amounting to more than £60,000 in either year.
11. Trustee5' remuneratlon and expensas
During the year. no Trustees received any remuneration or other beneffls (2022- £NIL).
None of th8 trustees lor any persons connected wth Iheml weNed any remuneration from the charity in
the year Trustees. expenses were paid by the charity of £19,392 {2022'. £9,715) to Bary and Batya
Segal, and their son. Aistair ScA)tt was reimbursed in the amount of £1,409 12022.. £1.139). The
aforementioned are all trustees and directors, and received the stated arnount5 in relation to travel,
accommodation and Subsisten￿ costs incurred on behalf of the charity.
Consultancy fees of £65.000 12022.. £65,000) and purchases of goods of £1.545 12022.. £1,940) were
payable for the year to Greetings from Jerusalem Ltd. a company owned 100Qh by Bary Segal. trustee.
Consultancy fees of £Nil12022.' £Nill were paid to Alistair Scot( a trustee and diredor.
A compary owned by Ariel Se9al. the son of two of the truslee5, ￿CeiVed £43,8C6 12022.. £50,855) in
payment for services provided to the chanty for the development and maintenance of th8 charitys
websile.
Page 24

THE JOSEPH STOREHOUSE TRUST
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
12. Tangibl• r￿ed asGet$
Group
Fre•hold
property
Plant and Fixtures and
machinery
fittings
Total
Cost or valuation
Al 1 January 2023
Addibon5
8,145,266
44.980
8,206
647
57.918
11,093
8,211,390
56.720
At 31 December 2023
8,190,246
8,853
69.011
8,268,110
Dopreclatlon
At 1 January 2023
Charge for the year
746,989
144,678
7.178
502
13.056
24,065
767,223
169.246
At 31 December 2023
891,667
7,680
37,121
936,468
Net book volue
At 31 December 2023
7,298,579
1,173
31.890
7,331,642
At 31 Decemb8r 2022
7.398,27T
1.028
44,862
7.444, 167
Page 25

THE JOSEPH STOREHOUSE TRUST
IA company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
12. Tangible flxed assots l¢onlinued)
Company
Freehold
property
Plant and Fixtures and
machinery
fitting$
Totsl
Cost or valuation
At 1 January 2023
Additions
260,000
8,206
647
7,826
276.032
647
At 31 December 2023
260,000
B,853
7,826
276,679
Dopreciation
At 1 January 2023
Charge for the year
15.600
5,200
7.178
502
7.656
51
30,434
5,753
At 31 Decemi*r 2023
20,800
7,680
7,707
36,187
Net book value
At 31 December 2023
239,200
1.173
119
240.492
At 31 December 2022
244,400
1,028
t70
245.598
Page 26

THE JOSEPH STOREHOUSE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
13. Flxed asset investmonts
Unllsted
investments
Group
Cost or valuation
At 1 January 2023
Ad(Jitions
38.835
112,378
At 31 December 2023
151,213
Not book valug
At 31 December 2023
151,213
At 31 December 2022
38,835
Investments
In
subsldlary
companleg
company
Cost or valuatlon
At 1 January 2023
At 31 December 2023
Not book value
At 31 December 2023
At 31 December 2022
Page 27

THE JOSEPH STOREHOUSE TRUST
(A company limitgd by guarant901
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
14. Debtors
Group
2023
Group
2022
Company
2023
Company
2022
Due after more than one year
Amounts owed by group undertakings
7,979,893
7.979, 893
7,979,893
7.979,893
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
Tax recoverable
1,099
2,771
19,673
63,495
6,522
15,399
19,628
18.186
4, 706
2,771
16.250
63fv95
16,250
18,786
87.038
60.335
8,062,409
8,019,535
15. Creditors: Amounts falling due within one year
Group
2023
Group
2022
Company
2023
Company
2022
other creditors
Accruals and deferred income
173
46,217
149
32,198
173
8,725
149
9.457
46,390
32.34T
8,898
9,606
Page 28

THE JOSEPH STOREHOUSE TRUST
IA company limited by guaranteg)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
16. Statement of funds
Statement of fund8 - current year
The charity receves gifts restricted by the donor for the var￿uS projects that it operates as set out below..
The building fund was used to raise funds to build the property that is owned by the subsidiary in Israel
and is used to conduct many of the programmes on the ground in Israel.
The Medical and Di8a3tfrr rellef funds have been merged and are used to ensure that those in need
receive the assistsnce that they requi￿.
The Chlldren and Edu¢atlon fund provides finance for projects such as the "Pack to school"
programme.
The Farnlly Carg and Welfare fund has now been merged with the Lonely soldiers lund and represents
the donations that are related to the care and welfare provided to families in Israel supported by Vision for
Israel.
Balance at
31
Decembor
2023
Balance at 1
January
2023
Transfers
Inlout
Income Expendlture
Unre$tri¢tod funds
General fund
Subsidjary reserves
4,290,111
(462.962)
911,489
466.660
1572.484)
{357,697)
181W) 4,547,567
1353,999
3,827,149
1,378,149
{930.181)
(81.5491 4.193.568
Restrictsd funds
Children and ￿UcatiOn
Medical
12,253
295,879
138,451
2,110
15,0001
1255.0001
{220,000)
7,253
40,879
Family care and welfare
Building
81.549
4.258.401
4,260,511
4,258.401
448.693
(480,000)
81,549
4,308,643
Total of funds
8,085,550
1,826,842 11.410.181)
8.502,211
Page 29

THE JOSEPH STOREHOUSE TRUST
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEM8ER 2023
16. Ststement of funds Icontlnuedl
Statement of fund5 - prlor year
B818n¢e al
31
December
2022
Balance at
l January
2022
Transfer
in/oul
Incomè Expenditu
Unrestrictsd funds
General fund
Subsidiary reseNes
4,366, 838
(376, 10¥
825.006
321,443
(455,256)
(408,303)
(446.47T)
4,290.1tI
(462.962)
3.990. 736
1, 146,449
(863, 559)
(446,477) 3, 82T, t49
Rostrictsd funds
Children and education
Medical
8,973
27.574
152,976
2,455
(t6.000)
(215,(￿))
{405,000)
7.02T
187.426
252,024
Family ¢¥re and welfare
Building
4,255,946
4,258,401
4,255,946
191,978
(636,000)
446,477
4,258,401
Total of funds
8,246,682
1.338,427 (1,499.559)
8.085,550
Page 30

THE JOSEPH STOREHOUSE TRUST
{A company limit•d by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
17. Summary of funds
Surnmary offunds- Current year
Balance at
31
Oecember
2023
Balance at 1
January
2023
Transfers
Inlout
In¢ome Expenditure
General funds
Restricted funds
3,827,149
4,258,401
1,378.149
448,693
{930.1811
{480,0001
181,549} 4.193.568
81,549
4,308.643
8,085,550
1,826.842 {1.410.181)
8,502,211
Summary of funds - prior year
Balanc8 al
31
Transf8rs Decembei
in/oul
2022
Balance at
l January
2022
Income E¥penditure
General fvnds
Restricted funds
3,990, 736
4,255,946
1,146.449
191.978
(863.559) (446,477J
(636.000)
446,4T7
3,827, 149
4.258,401
8.246,682
1,338.427 (1.499,559)
8,085,5XI
18. Analysis of assets between funds
Anatysi$ of net assets between funds - current y•ar
Unr•stri¢tod RoStri¢tsd
funds
funds
2023
2023
Total
funds
2023
Tangible fixed assets
Fixed asset investments
Current assets
3,071,131
151,213
1.017,614
146,3901
4,260,511
7,331.642
151,213
1,065,746
146,390
48.132
Creditors due within one year
Total
4,193,568
4,308,643
8,502,211
Page 31

THE JOSEPH STOREHOUSE TRUST
IA company limited by guarnnteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
18. Analysis of net assots between funds Icontinuedl
Analysis of net a88et8 between funds - prior year
un￿strIded
funds
2022
R&stricted
fvnds
2022
Total
funds
2022
Tangible fixed assets
Fixed asset investments
Current assets
Cr&Jitors due within one year
3, 185, 766
38,835
634.895
(32,347)
4.258,491
T.444, 167
38, 835
634,895
(32,347)
Total
3,827,149
4,258,401
8,085,550
19. Reconclllatlon of net movom•nt in funds to net cash Ilow from oporating a¢tivitles
Group
2023
Gmup
2022
Net Incomelexpenditure for the year las per Statement of Financial
Aclwitiesl
416,661
(161, 132)
Adjustments for.
Depreciation charges
Lossesllgainsl on investrnents
Decreasellin¢reasel in debtors
Increaselldecrease) in cieditors
169,245
176,712
67.958
310
(7.624)
(26,7031
14.043
Net cash provlded by operatlng •ctivitie8
573,246
76.224
20. Anatys18 of ca8h and cash equivalents
Group
2023
Gmup
2022
Cash in hand
978,708
574,560
Total ¢ash and cash oquiyalents
978.708
574,560
Page 32

THE JOSEPH STOREHOUSE TRUST
IA company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
21. Analysis of changes In nel debt
At1
January
2023 Cash flows
At31
Decembgr
2023
Cash at bank and in hand
574,560
404,148
978,708
574,560
404,148
978,708
Related party transacllons
The charity works closely with Vision for Israel. which is a charity based and registered in Israel. This
harity works towards the same goals as The Joseph Storehouse Trust and works within the same areas
of Israel, they co-operate on both projects being worked towards and methods of distributing to the needy.
Muth of the charitable gwing of The Joseph Storehouse Trusl is paid to Vision for Israel for onward
payrnenl for the relevant charitable purposes. In the year to 31 December 2023 the amount of charitable
giving paid to Vision for Israel was £S95.000 (2022.. £800,000) Barry Segal is a trustee of t(Jth The
Joseph Storehouse Trust and Vision for Israel. Batya Segal is a trustee of The Joseph Storehouse Trust
and is employed by Vision for Israel lo manage the aid operations.
In the year ended 31 December 2023 The Joseph storeh￿Se Trust paid over funds amounting to
£122,50012022'. £47,500) lo the American Vision For Israel charity. The tharity also ￿ceiVed £Nil,12022.'
£33,916) from the American v￿lon FOT Israel charity towards the reslricted building fund.
Included in note 14 as amounts owed ty group undertakings includes a loan of £7.132,228 12022..
£7.132,2281 to its 100% owned subsidiary trading company The Millennium Commercial Centre In Modiin
Ltd. This is in the fom of capital notes. The terms of the cspitsl notes are that no interest is payable and
that they wll not repaid before 31 December 2D24. The intent￿n is to roll them over &ach year. Also
included is an amount of £847,66512022.' £847,665) to the same subsidiary. The temis of this loan are
that there is no Inte￿$1 payable and there is no fixed term for repaymenl. Barry Segal, trustee, is a director
of this company, along wf(h Geoff Flashman.
Page 33

THE JOSEPH STOREHOUSE TRUST
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
23. PrinGipal subsidiarfes
The following was a subsidiary undertaking of the company..
Name
Re915tered offlce or principal Princlpal actlvity
place of business
Class of
Shares
The Millennium Commercial Centre Israel
in Modiin Ltd
Rental of property and Ordinary
delivering
humanitarian aid
Holdlng
Included in
consolidation
100% Yes
The financial results of the subsidiary for the year We￿..
Namg
Income
Expendlture
ProflVILos$1
I Surplusl
(Deflclt) for
the year
Net assets
The mil￿n￿lum Commercial Cenlre in
Modiin Ltd
466,661
{357,697)
108.963
1353,998)
Page 34