REGISTERED COMPANY NUMBER: 04099989 (England and Wales) REGISTERED CHARITY NUMBER: 1084583
Report of the Trustees and
Financial Statements for the Year Ended 31 October 2020
for
Tzedokoh Vechesed Limited
Martin+Heller Statutory Auditors 5 North End Road London NW11 7RJ
Tzedokoh Vechesed Limited
Contents of the Financial Statements for the Year Ended 31 October 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Report of the Independent Auditors | 5 | to | 6 |
| Statement of Financial Activities | 7 | ||
| Balance Sheet | 8 | ||
| Cash Flow Statement | 9 | ||
| Notes to the Cash Flow Statement | 10 | ||
| Notes to the Financial Statements | 11 | to | 18 |
| Detailed Statement of Financial Activities | 19 |
Tzedokoh Vechesed Limited
Report of the Trustees for the Year Ended 31 October 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2020. The trustees have adopted the provisions of 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
Objectives and aims
The charity's object and its principal activity continue to be that of providing grants for the enhancement of education and religion and for the relief of poverty in the orthodox jewish community. Its policy continues to be the making of such grants.
Significant activities
There were no significant activities to report.
Public benefit
The trustees confirm their compliance with the duty to have regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives in planning future activities.
Grantmaking
Tzedokoh Vechesed Limited has within its Articles of Association the ability to make donations.
Volunteers
During the year, the charity did not have any volunteers to help with the objective of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees consider that the performance of the charity this year has been satisfactory. Substantial funds have been granted to institutions during the period from contributions received from donors.
The Statement of Financial Activities shows a net deficits of £(400,583) after making total grants of £314,277 and the reserves stand at £12,100,845.
Investment performance
The trustees are currently satisfied with the investment performance of the assets. The Company has not expanded its activities during the current year, but is always looking at opportunities, the current investment property portfolio is producing good results which enhances its charitable activities.
Internal and external factors
The trustees have made a full assessment of the internal and external factors that may affect these financial statements and do not deem any factors material enough to have an impact.
FINANCIAL REVIEW
Principal funding sources
Tzedokoh Vechesed Limited is pleased and fortunate to receive donations from it's related companies. Also through its investment policy the returns from the investments have produced good rental income.
Overall the charity has experienced a good year and hopes it will continue to do so next year.
Investment policy and objectives
Under the memorandum and articles of association, the charity has the power to make any investment, which the trustees see fit. The trustees have considered the most appropriate policy for investing funds and have found that investment in property meets their requirements to generate both income and capital growth.
Page 1
Tzedokoh Vechesed Limited
Report of the Trustees for the Year Ended 31 October 2020
FINANCIAL REVIEW
Reserves policy
The charity does not maintain a reserve policy,as reserves are distributed when they become available at the trustees' discretion. The present level of funding is adequate to support the continuation of its objects and the trustees consider the financial position of the charity to be satisfactory.
FUTURE PLANS
There are no significant future developments to report.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, the memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005. The company was formed on 27 October 2000. The charity is managed and controlled by the directors who are the trustees, who meet regularly.
Recruitment and appointment of new trustees
The trustees are appointed according to the Articles of Association.
Organisational structure
The Chief Executive of the charity is Mr M Margalit, to whom day to day management of the charity has been delegated.
The Board of Trustee, as per the governing document, can have at up tol 3 trustees serving at anyone time to administer the charity.
The entire board meets on a regular basis, at least quarterly, or more if required.
The charity is organised so that the trustees meet regularly to manage its affairs. There are no paid employees and all administration work is done on voluntary basis by the trustees.
Induction and training of new trustees
All new trustees are given, in the view of the board, sufficient training and have enough knowledge of their specific field to understand the nature of the charity and fully comply with the charities views of its progression.
New trustees undergo a briefing to ensure they are aware of both their legal and professional responsibilities under charity and company law.
Wider network
At present Tzedokoh Vechesed Limited does not consider itself part of a wider network.
Related parties
Full details of the Related Party Transactions during the year ended 31 October 2020 can be found in Note 19 of the Financial Statements.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04099989 (England and Wales)
Page 2
Tzedokoh Vechesed Limited
Report of the Trustees for the Year Ended 31 October 2020
Registered Charity number
1084583
Registered office
5 North End Road London NW11 7RJ
Trustees
M Margalit Z Zeivald Mrs R E Zeivald (appointed 23.6.21)
Company Secretary
Mrs R E Zeivald
Senior Statutory Auditor
Mr A Heller (FCA)
Auditors
Martin+Heller Statutory Auditors 5 North End Road London NW11 7RJ
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Tzedokoh Vechesed Limited for the purposes of company law) are responsible for preparing the Report of the Trustees 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
-
there is no relevant audit information of which the charitable company's auditors are unaware; and
-
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
The auditors, Martin+Heller, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Page 3
Tzedokoh Vechesed Limited
Report of the Trustees for the Year Ended 31 October 2020
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... M Margalit - Trustee
Page 4
Report of the Independent Auditors to the Members of Tzedokoh Vechesed Limited
Opinion
We have audited the financial statements of Tzedokoh Vechesed Limited (the 'charitable company') for the year ended 31 October 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, 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 (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 31 October 2020 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
-
the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
-
the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Page 5
Report of the Independent Auditors to the Members of Tzedokoh Vechesed Limited
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes 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 charitable company'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.
Our responsibilities for the audit of the financial statements
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 a Report of the Independent Auditors 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.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Mr A Heller (FCA) (Senior Statutory Auditor) for and on behalf of Martin+Heller Statutory Auditors 5 North End Road London NW11 7RJ
Date: .............................................
Page 6
Tzedokoh Vechesed Limited
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 October 2020
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Other income Total EXPENDITURE ON Raising funds Investment management costs 4 Charitable activities 5 Charitable activities Other Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.10.20 Unrestricted funds £ 130,943 1,324,124 361,691 1,816,758 481,708 481,708 314,277 6,356 802,341 (1,415,000) (400,583) 12,501,428 12,100,845 |
31.10.19 Total funds £ 45,000 1,461,273 - |
|---|---|---|
| 1,506,273 516,559 |
||
| 516,559 287,497 5,111 |
||
| 809,167 - |
||
| 697,106 11,804,322 |
||
| 12,501,428 |
The notes form part of these financial statements
Page 7
Tzedokoh Vechesed Limited
Balance Sheet 31 October 2020
| Notes FIXED ASSETS Investment property 13 CURRENT ASSETS Debtors 14 Cash at bank CREDITORS Amounts falling due within one year 15 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 16 NET ASSETS FUNDS 18 Unrestricted funds TOTAL FUNDS |
31.10.20 Unrestricted funds £ 16,975,000 91,206 685,397 776,603 (2,878,518) (2,101,915) 14,873,085 (2,772,240) 12,100,845 12,100,845 12,100,845 |
31.10.19 Total funds £ 18,390,000 71,579 415,939 487,518 (768,924) (281,406) 18,108,594 (5,607,166) 12,501,428 12,501,428 12,501,428 |
|---|---|---|
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. M Margalit - Trustee
The notes form part of these financial statements
Page 8
Tzedokoh Vechesed Limited
Cash Flow Statement for the Year Ended 31 October 2020
| Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash provided by operating activities Cash flows from investing activities Interest received Net cash provided by investing activities Cash flows from financing activities Loan repayments in year Net cash used in financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
31.10.20 £ 1,296,429 (209,708) 1,086,721 170 170 (817,433) (817,433) 269,458 415,939 685,397 |
31.10.19 £ 696,648 (243,539) 453,109 208 208 (265,866) (265,866) 187,451 228,488 415,939 |
|---|---|---|
The notes form part of these financial statements
Page 9
Tzedokoh Vechesed Limited
Notes to the Cash Flow Statement for the Year Ended 31 October 2020
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Losses on investments Interest received Interest paid Increase in debtors Increase/(decrease) in creditors Net cash provided by operations |
31.10.20 £ (400,583) 1,415,000 (170) 209,708 (19,627) 92,101 1,296,429 |
31.10.19 £ 697,106 - (208) 243,539 (44,559) (199,230) 696,648 |
|---|---|---|
2.
ANALYSIS OF CHANGES IN NET DEBT
| Net cash Cash at bank Debt Debts falling due within 1 year Debts falling due after 1 year Total |
At 1/11/19 £ 415,939 415,939 (296,591) (5,607,166) (5,903,757) (5,487,818) |
Cash flow £ 269,458 269,458 (2,017,493) 2,834,926 817,433 1,086,891 |
At 31/10/20 £ 685,397 685,397 (2,314,084) (2,772,240) (5,086,324) (4,400,927) |
|---|---|---|---|
The notes form part of these financial statements
Page 10
Tzedokoh Vechesed Limited
Notes to the Financial Statements for the Year Ended 31 October 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 11
Tzedokoh Vechesed Limited
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
| 2. DONATIONS AND LEGACIES Donations 3. INVESTMENT INCOME Rents and insurance received Deposit account interest Other interest receivable 4. INVESTMENT MANAGEMENT COSTS Staff costs Insurance Legal and Professional fees Maintenance and other Letting and management fees Interest payable and similar charges 5. CHARITABLE ACTIVITIES COSTS Charitable activities 6. GRANTS PAYABLE Charitable activities During the year the following material donations were made: Charity Name Beis Chinuch Lebonos Cong. Shaarel Zion of Bobov Friends Beis Sora Schneirer London Bible kollel JCOCI Educational Foundation |
31.10.20 £ 130,943 31.10.20 £ 1,323,954 169 1 1,324,124 31.10.20 £ 12,573 80,563 26,711 123,558 28,595 209,708 481,708 31.10.20 £ 314,277 |
31.10.20 £ 130,943 31.10.20 £ 1,323,954 169 1 1,324,124 31.10.20 £ 12,573 80,563 26,711 123,558 28,595 209,708 481,708 31.10.20 £ 314,277 |
31.10.19 £ 45,000 31.10.19 £ 1,461,065 127 81 1,461,273 31.10.19 £ 32,934 52,099 32,223 139,487 16,277 243,539 516,559 Grant funding of activities (see note 6) £ 314,277 31.10.19 £ 287,497 |
31.10.19 £ 45,000 31.10.19 £ 1,461,065 127 81 1,461,273 31.10.19 £ 32,934 52,099 32,223 139,487 16,277 243,539 516,559 Grant funding of activities (see note 6) £ 314,277 31.10.19 £ 287,497 |
|---|---|---|---|---|
| £ | ||||
| 10,000 | ||||
| 28,733 | ||||
| 10,000 | ||||
| 12,974 | ||||
| 67,248 |
continued...
Page 12
Tzedokoh Vechesed Limited
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
6. GRANTS PAYABLE - continued
| Kehal Chasidim Bobov | 11,540 |
|---|---|
| Kerem Shlomo Trust | 31,000 |
| Lehmanns | 5,000 |
| Mercaz Hatorah Beis Machnovke | 10,180 |
| Mifal Cachesed Vhatzdoko | 15,000 |
| Ohr Torah | 8,222 |
| One Heart | 10,000 |
| Side By Side Kids Ltd | 17,896 |
| Yad Yisroel | 20,400 |
| Others - less than £5,000 | 56,084 |
| ------------ | |
| Total | 314,277 |
| ------------ |
7. SUPPORT COSTS
| SUPPORT COSTS | ||
|---|---|---|
| Governance | ||
| costs | ||
| £ | ||
| Other resources expended | 6,000 | |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 31.10.20 | 31.10.19 | |
| £ | £ | |
| Auditors' remuneration | 6,000 | 5,000 |
8. NET INCOME/(EXPENDITURE)
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2020 nor for the year ended 31 October 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2020 nor for the year ended 31 October 2019.
continued...
Page 13
Tzedokoh Vechesed Limited
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
10. STAFF COSTS
The average number of employees during the year were 1 (2019: 2)
| 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Investment management costs Charitable activities Charitable activities Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 45,000 1,461,273 |
|---|---|
| 1,506,273 516,559 |
|
| 516,559 287,497 5,111 |
|
| 809,167 | |
| 697,106 11,804,322 |
|
| 12,501,428 |
continued...
Page 14
Tzedokoh Vechesed Limited
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
12. NET GAINS/(LOSSES) ON INVESTMENTS
| 31.10.20 | 31.10.19 | |
|---|---|---|
| £ | £ | |
| Unrealised loss on revaluation of investment properties | (1,415,000) | - |
| Realised gain on sale of a fixed asset investment | 361,691 | - |
| --------------- | -- | |
| (1,053,309) | - | |
| ======== | = |
The realised gain on sale of the fixed asset investment above relates to a profit share on a deal with Noblestar Estates Ltd a company which has common trustees and directors.
13. INVESTMENT PROPERTY
| FAIR VALUE At 1 November 2019 Revaluation At 31 October 2020 NET BOOK VALUE At 31 October 2020 At 31 October 2019 |
£ 18,390,000 (1,415,000) 16,975,000 16,975,000 18,390,000 |
|---|---|
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.10.20 | 31.10.19 | |
|---|---|---|
| £ | £ | |
| Rent debtors | 31,387 | 20,733 |
| Other debtors | 4,130 | 12,662 |
| Clients account/Archer Bassett | - | 483 |
| Prepayments and accrued income | 55,689 | 37,701 |
| 91,206 | 71,579 |
Page 15
continued...
Tzedokoh Vechesed Limited
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
| 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 17) Trade creditors VAT Other creditors Rents in advance Noblestar Estates Limited Accrued expenses 16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 17) 17. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years Amounts falling due in more than five years: Repayable by instalments: Bank loans more than five years 18. MOVEMENT IN FUNDS At 1/11/19 £ Unrestricted funds General fund 12,501,428 TOTAL FUNDS 12,501,428 |
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 17) Trade creditors VAT Other creditors Rents in advance Noblestar Estates Limited Accrued expenses 16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 17) 17. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years Amounts falling due in more than five years: Repayable by instalments: Bank loans more than five years 18. MOVEMENT IN FUNDS At 1/11/19 £ Unrestricted funds General fund 12,501,428 TOTAL FUNDS 12,501,428 |
31.10.20 £ 2,314,084 603 21,716 402,523 133,592 - 6,000 2,878,518 31.10.20 £ 2,772,240 31.10.20 £ 2,314,084 178,876 536,628 2,056,736 Net movement in funds £ (400,583) (400,583) |
31.10.19 £ 296,591 2,243 19,913 160,418 153,816 130,943 5,000 |
|
|---|---|---|---|---|
| 768,924 | ||||
| 31.10.19 £ 5,607,166 |
||||
| 31.10.19 £ 296,591 |
||||
| 1,209,739 | ||||
| 1,246,483 | ||||
| 3,150,944 At 31/10/20 £ 12,100,845 |
||||
| 12,100,845 |
Page 16
continued...
Tzedokoh Vechesed Limited
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
18. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 1,816,758 1,816,758 |
Resources expended £ (802,341) (802,341) At 1/11/18 £ 11,804,322 11,804,322 |
Gains and losses £ (1,415,000) (1,415,000) Net movement in funds £ 697,106 697,106 |
Movement in funds £ (400,583) |
|||
|---|---|---|---|---|---|---|---|
| (400,583) | |||||||
| At 31/10/19 £ 12,501,428 |
|||||||
| 12,501,428 |
Comparative net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 1,506,273 TOTAL FUNDS 1,506,273 A current year 12 months and prior year 12 months combined position is as follows: At 1/11/18 £ Unrestricted funds General fund 11,804,322 TOTAL FUNDS 11,804,322 |
Resources expended £ (809,167) (809,167) Net movement in funds £ 296,523 296,523 |
Movement in funds £ 697,106 |
||
|---|---|---|---|---|
| 697,106 | ||||
| At 31/10/20 £ 12,100,845 |
||||
| 12,100,845 |
continued...
Page 17
Tzedokoh Vechesed Limited
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
18. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 3,323,031 3,323,031 |
Resources expended £ (1,611,508) (1,611,508) |
Gains and losses £ (1,415,000) (1,415,000) |
Movement in funds £ 296,523 |
|---|---|---|---|---|
| 296,523 |
19. RELATED PARTY DISCLOSURES
During the year, material transactions took place with related organisations, where some of the trustees of the charity also act as trustees/diretors of the related organisations. These were as follows:
| 31.10.20 | 31.10.19 | |
|---|---|---|
| £ | £ | |
| Donations received without conditions: | ||
| Noblestar Estates Limited - (M.Margalit - Director) | 130,943 | 45,000 |
| 31.10.20 | 31.10.19 | |
| £ | £ | |
| Other income (Profit Share): | ||
| Noblestar Estates Limited - (M.Margalit - Director) | 361,691 | - |
| 31.10.20 | 31.10.19 | |
| £ | £ | |
| Included in creditors amounts falling due within one year: | ||
| Noblestar Estates Limited - (M.Margalit - Director) | - | 361,691 |
Page 18
Tzedokoh Vechesed Limited
| Detailed Statement of Financial Activities for the Year Ended 31 October 2020 INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Rents and insurance received Deposit account interest Other interest receivable Other income Profit share Total incoming resources EXPENDITURE Investment management costs Wages Social security Pensions Insurance Legal and Professional fees Maintenance and other Letting and management fees Bank loan interest Charitable activities Grants to institutions Grants to individuals Other Bank charges Support costs Governance costs Auditors' remuneration Total resources expended Net income |
31.10.20 £ 130,943 1,323,954 169 1 1,324,124 361,691 1,816,758 12,000 453 120 80,563 26,711 123,558 28,595 209,708 481,708 312,251 2,026 314,277 356 6,000 802,341 1,014,417 |
31.10.19 £ 45,000 1,461,065 127 81 |
|---|---|---|
| 1,461,273 - |
||
| 1,506,273 30,170 2,004 760 52,099 32,223 139,487 16,277 243,539 |
||
| 516,559 287,497 - |
||
| 287,497 111 5,000 |
||
| 809,167 | ||
| 697,106 |
This page does not form part of the statutory financial statements
Page 19