Docusign Envelope ID: 4064BB4F-C645-4DAA-97E6-3339EA035089Docusign Envelope ID: 6550F9AD-BFA6-47F2-B927-DD9B4292DFA1
COMPANY REGISTRATION NUMBER: 03753983 CHARITY REGISTRATION NUMBER: 1084700
THE RABBI MOSHE & LEAH DERMER FOUNDATION
Company Limited by Guarantee
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2024
COHEN ARNOLD
Chartered accountants New Burlington House 1075 Finchley Road LONDON NW11 0PU
Docusign Envelope ID: 4064BB4F-C645-4DAA-97E6-3339EA035089Docusign Envelope ID: 6550F9AD-BFA6-47F2-B927-DD9B4292DFA1
THE RABBI MOSHE & LEAH DERMER FOUNDATION
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
| Pages | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 to 3 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and expenditure | |
| account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 to 12 |
Docusign Envelope ID: 4064BB4F-C645-4DAA-97E6-3339EA035089Docusign Envelope ID: 6550F9AD-BFA6-47F2-B927-DD9B4292DFA1
THE RABBI MOSHE & LEAH DERMER FOUNDATION
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
YEAR ENDED 30 APRIL 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 April 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name The Rabbi Moshe & Leah Dermer Foundation
Charity registration number 1084700 Company registration number 03753983 Principal office and registered New Burlington House office 1075 Finchley Road London NW11 0PU The Trustees Mr J Sternlight Mrs R Sternlight Mr A A Rotenberg Company secretary Mr A A Rotenberg Independent examiner Aquib Akhtar, FCCA Cohen Arnold New Burlington House 1075 Finchley Road LONDON NW11 0PU
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The Rabbi Moshe & Leah Dermer Foundation is a Company Limited by Guarantee governed by its Memorandum & Articles of Association dated 14 April 1999 and as amended by Special Resolution dated 19 September 2000. It is registered as a charity with the Charity Commission. The trustees are directors for the purposes of company law and they undertake the day to day management of the charity.
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Docusign Envelope ID: 4064BB4F-C645-4DAA-97E6-3339EA035089Docusign Envelope ID: 6550F9AD-BFA6-47F2-B927-DD9B4292DFA1
THE RABBI MOSHE & LEAH DERMER FOUNDATION
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)
YEAR ENDED 30 APRIL 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)
Appointment of Trustees
As set out in the Articles of Association, at every annual general meeting a trustee shall retire from office by rotation. The trustee to retire by rotation shall be the longest serving trustee since their last appointment. If the Charity does not fill the vacancy the retiring trustee shall be deemed to have been reappointed.
No person other than a trustee retiring by rotation shall be appointed or reappointed a trustee at any general meeting unless he is recommended by the trustee; or not less than fourteen nor more than thirty-five clear days, before the appointed for the meeting, notice has been given to the Charity of the intention to propose for appointment or reappointment together with a notice by that person of his willingness to be appointed or reappointed.
Risk Management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate the exposure to the major risks.
OBJECTIVES AND ACTIVITIES
Charity Objectives And Aims
The Charitable Company is established to further those purposes both in the United Kingdom and abroad recognised as charitable by English Law. The charity's main objects for the year continued to be to provide charitable relief for poor people in the UK, Israel and the USA and such other charitable purposes as the trustees decide, with particular reference to charitable purposes benefiting Jewish people and institutions.
In furtherance of the aforementioned objects, the Charitable Company receives income from charitable receipts and investments, which it utilises in the provision and distribution of grants and donations that fall within the objectives of the Charitable Company. No change is envisaged in the immediate future.
Public Benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting the grant making policy for the year.
Volunteers
The charity has no volunteers other than the trustees.
Grant Making Policy
The Trustees are approached for donations by a wide variety of charitable institutions. The Trustees consider all requests which they receive and make donations based on the level of funds available to charities whose purpose fall within the objects of the Charitable Company.
In making grants and donations, the Trustees use their personal knowledge of the relevant institutions, their representatives, operational efficiency and reputation. The Trustees monitor the application of the grants and donations by meeting with representatives of the institutions and obtaining information as to the utilisation of funds.
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Docusign Envelope ID: 4064BB4F-C645-4DAA-97E6-3339EA035089Docusign Envelope ID: 6550F9AD-BFA6-47F2-B927-DD9B4292DFA1
THE RABBI MOSHE & LEAH DERMER FOUNDATION
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)
YEAR ENDED 30 APRIL 2024
ACHIEVEMENTS AND PERFORMANCE
During the year the charity continued to pursue its philanthropic objects in support of other charitable organisations. Income from donations and investments aggregated £74,531 (2023: £231,607). Total resources expended were £176,608.
Grants and donations in the year totalled £170,673 (2023: £244,336).
FINANCIAL REVIEW
The financial results of the charity's activities for the year to 30 April 2024 are fully reflected in the attached Financial Statements together with the Notes thereon.
The financial position of the Charitable Company is satisfactory.
Reserves Policy
It is the policy of the Charitable Company to maintain unrestricted funds, which include the free reserves of the charity, at a level which the trustees consider appropriate, taking into account the future commitments of the charity and the likely costs of the charity for the next year. At 30 April 2024 the charity had unrestricted funds aggregating £618,367.
As at 30 April 2024, the charity had free reserves of £618,367.
PLANS FOR FUTURE PERIODS
The aims and objectives of the Charity for future periods remains the same, subject to receiving sufficient income and in accordance with the grant making policy.
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 27 February 2025 and signed on behalf of the board of trustees by:
(4S by:
Mr J Sternlight Trustee
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Docusign Envelope ID: 4064BB4F-C645-4DAA-97E6-3339EA035089Docusign Envelope ID: 6550F9AD-BFA6-47F2-B927-DD9B4292DFA1
THE RABBI MOSHE & LEAH DERMER FOUNDATION
COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE RABBI MOSHE & LEAH DERMER FOUNDATION
YEAR ENDED 30 APRIL 2024
I report to the trustees on my examination of the financial statements of The Rabbi Moshe & Leah Dermer Foundation ('the charity') for the year ended 30 April 2024.
RESPONSIBILITIES AND BASIS OF REPORT
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
loyib Altar [Mou Aquib Akhtar, FCCA Cohen Arnold Independent Examiner
New Burlington House 1075 Finchley Road LONDON NW11 0PU
Dated: 27 February 2025
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Docusign Envelope ID: 4064BB4F-C645-4DAA-97E6-3339EA035089Docusign Envelope ID: 6550F9AD-BFA6-47F2-B927-DD9B4292DFA1
THE RABBI MOSHE & LEAH DERMER FOUNDATION COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 30 APRIL 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 28,465 | 28,465 | 183,409 |
| Investment income | 6 | 46,066 | 46,066 | 48,198 |
| ------------------------------- | ------------------------------- | ------------------------------------- | ||
| Total income | 74,531 | 74,531 | 231,607 | |
| =============================== | =============================== | ===================================== | ||
| Expenditure | ||||
| Expenditure on charitable activities | 7,8 | (176,608) | (176,608) | (249,433) |
| ------------------------------------- | ------------------------------------- | ------------------------------------- | ||
| Total expenditure | (176,608) | (176,608) | (249,433) | |
| ===================================== | ===================================== | ===================================== | ||
| ------------------------------------- | ------------------------------------- | ------------------------------------- | ||
| Net expenditure and net movement in funds | (102,077) | (102,077) | (17,826) | |
| ===================================== | ===================================== | ===================================== | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 720,444 | 720,444 | 738,270 | |
| ------------------------------------- | ------------------------------------- | ------------------------------------- | ||
| Total funds carried forward | 618,367 | 618,367 | 720,444 | |
| ===================================== | ===================================== | ===================================== |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 12 form part of these financial statements.
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Docusign Envelope ID: 4064BB4F-C645-4DAA-97E6-3339EA035089Docusign Envelope ID: 6550F9AD-BFA6-47F2-B927-DD9B4292DFA1
THE RABBI MOSHE & LEAH DERMER FOUNDATION COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
| 30 APRIL 2024 | 30 APRIL 2024 | ||||
|---|---|---|---|---|---|
| 2024 | 2023 | 2023 | |||
| Note | £ | £ | £ | £ | |
| Current assets | |||||
| Debtors | 15 | 606,145 | 1,252,528 | ||
| Cash at bank and in hand | 14,622 | 5,496 | |||
| ------------------------------------- | ----------------------------------------------- | ||||
| 620,767 | 1,258,024 | ||||
| Creditors: amounts falling due | |||||
| within one year | 16 | (2,400) | (537,580) | ||
| ------------------------------------- | ----------------------------------------------- | ||||
| Net current assets | 618,367 | 720,444 | |||
| ------------------------------------- | ------------------------------------- | ||||
| Total assets less current liabilities | 618,367 | 720,444 | |||
| ------------------------------------- | ------------------------------------- | ||||
| Net assets | 618,367 | 720,444 | |||
| ===================================== | ===================================== | ||||
| Funds of the charity | |||||
| Unrestricted funds | 618,367 | 720,444 | |||
| ------------------------------------- | ------------------------------------- | ||||
| Total charity funds | 17 | 618,367 | 720,444 | ||
| ===================================== | ===================================== |
For the year ending 30 April 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 27 February 2025, and are signed on behalf of the board by:
(4S62CD7737587043D... by: Mr J Sternlight Trustee
The notes on pages 7 to 12 form part of these financial statements.
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Docusign Envelope ID: 4064BB4F-C645-4DAA-97E6-3339EA035089Docusign Envelope ID: 6550F9AD-BFA6-47F2-B927-DD9B4292DFA1
THE RABBI MOSHE & LEAH DERMER FOUNDATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is New Burlington House, 1075 Finchley Road, London, NW11 0PU.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
There are no judgements, estimates and assumptions that affect the amounts reported.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of financial activities.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Incoming resources
All donations are recognised in the Statement of Financial Activities (SOFA) of the Charitable Company when the charity has unconditional entitlement to the resources. Donations represent voluntary amounts received during the year.
All other income is recognised on a receivable basis.
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Docusign Envelope ID: 4064BB4F-C645-4DAA-97E6-3339EA035089Docusign Envelope ID: 6550F9AD-BFA6-47F2-B927-DD9B4292DFA1
THE RABBI MOSHE & LEAH DERMER FOUNDATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 APRIL 2024
3. Accounting policies (continued)
Resources expended
Governance Costs
Governance costs include costs of the preparation and audit of financial statements and cost of any legal advice to Trustees on governance or constitutional matters and is recognised on an accrual basis.
Liability Recognition
Creditors are recognised as soon as there is a present obligation committing the entity to pay out resources, it is probable that a transfer of economic benefits will be required in settlement and the amount can be measured or estimated reliably.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
The Charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid. Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.
4. Limited by guarantee
The charity is a company limited by guarantee and has no share capital. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.
5. Donations and legacies
| Donations and legacies | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations Received | 28,465 | 28,465 | 183,409 | 183,409 |
| =============================== | =============================== | ===================================== | ===================================== |
No restrictions were attached to any donations received.
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Docusign Envelope ID: 4064BB4F-C645-4DAA-97E6-3339EA035089Docusign Envelope ID: 6550F9AD-BFA6-47F2-B927-DD9B4292DFA1
THE RABBI MOSHE & LEAH DERMER FOUNDATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 APRIL 2024
6. Investment income
| 6. | Investment income | ||||
|---|---|---|---|---|---|
| Unrestricted | Total Funds |
Unrestricted | Total Funds | ||
| Funds | 2024 |
Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Interest receivable | 46,066 | 46,066 |
48,198 | 48,198 | |
| =============================== | =============================== | =============================== | =============================== | ||
| 7. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Total Funds |
Unrestricted | Total Funds | ||
| Funds | 2024 |
Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Grant funding activities | 170,673 | 170,673 |
244,336 | 244,336 | |
| Support costs | 5,935 | 5,935 |
5,097 | 5,097 | |
| ------------------------------------- | ------------------------------------- | ------------------------------------- | ------------------------------------- | ||
| 176,608 | 176,608 |
249,433 | 249,433 | ||
| ===================================== | ===================================== | ===================================== | ===================================== | ||
| 8. | Expenditure on charitable activities by activity type | ||||
| Grant | |||||
| funding of | Total funds | Total fund | |||
| activities | Support costs | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Grant funding activities | 170,673 | 5,935 |
176,608 | 249,433 | |
| ===================================== | ========================== | ===================================== | ===================================== | ||
| 9. | Analysis of support costs | ||||
| Governance | |||||
| costs | Total 2024 | Total 2023 | |||
| £ | £ | £ | |||
| Accountancy fees | 5,513 | 5,513 | 3,500 | ||
| Foreign exchange difference | 11 | 11 | – | ||
| General expenses | 45 | 45 | 1,290 | ||
| Bank charges | 366 | 366 | 307 | ||
| -------------------------- | -------------------------- | -------------------------- | |||
| 5,935 | 5,935 | 5,097 | |||
| ========================== | ========================== | ========================== |
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Docusign Envelope ID: 4064BB4F-C645-4DAA-97E6-3339EA035089Docusign Envelope ID: 6550F9AD-BFA6-47F2-B927-DD9B4292DFA1
THE RABBI MOSHE & LEAH DERMER FOUNDATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 APRIL 2024
10. Analysis of grants
| 2024 | |
|---|---|
| £ | |
| Grants to institutions | |
| Achisomoch Aid Company Limited | 10,560 |
| Tiferes High School Limited | 9,780 |
| Kollel Hakol | 7,400 |
| Edupoor Limited | 6,650 |
| Hasmonean High School Charitable Trust | 6,050 |
| BCR GJAG Limited | 6,000 |
| North London Welfare and Educational Foundation | 5,500 |
| Beth Jacob Grammar School for Girls Limited | 5,000 |
| Kahal Chasidei Wiznitz Limited | 4,450 |
| Yeshiva Lev Simcha Limited | 4,310 |
| Care All Limited | 4,250 |
| Ezras Hakohol Trust | 4,000 |
| Friends of Mir | 4,000 |
| Other grants less than £4,000 | 87,985 |
| ------------------------------------- | |
| 165,935 | |
| Grants to individuals | |
| Other grants less than £4,000 | 4,738 |
| ------------------------------------- | |
| Total grants | 170,673 |
| ===================================== |
All grants were paid to charitable institutions whose objects are in line with the objects of the charity. Grants were made for the relief of the poor and educational purposes. The institutions support a variety of projects in this area. All grants were paid from unrestricted funds.
11. Net expenditure
Net expenditure is stated after charging/(crediting):
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Foreign exchange differences | 11 | – | |
| ================ | ================ | ||
| 12. | Independent examination fees | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 1,000 ========================== |
1,000 ========================== |
13. Staff costs
There were no employees during the year.
14. Trustee remuneration and expenses
No trustees have been paid any remuneration or received any other benefits from the Charity. No Trustee expenses have been incurred.
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Docusign Envelope ID: 4064BB4F-C645-4DAA-97E6-3339EA035089Docusign Envelope ID: 6550F9AD-BFA6-47F2-B927-DD9B4292DFA1
THE RABBI MOSHE & LEAH DERMER FOUNDATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 APRIL 2024
| 15. | Debtors | ||||
|---|---|---|---|---|---|
| 2024 | 2023 | ||||
| £ | £ | ||||
| Other debtors | 606,145 | 1,252,528 | |||
| ===================================== | =============================================== | ||||
| 16. | Creditors: amounts falling due within one year | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Accruals and deferred income | 2,400 | – | |||
| Other creditors | – | 537,580 | |||
| -------------------------- | ------------------------------------- | ||||
| 2,400 | 537,580 | ||||
| ========================== | ===================================== | ||||
| 17. | Analysis of charitable funds | ||||
| Unrestricted funds | |||||
| At | At 30 | ||||
| 1 | May 2023 | Income | Expenditure | April 2024 | |
| £ | £ | £ | £ | ||
| Unrestricted Funds | 720,444 | 74,531 | (176,608) | 618,367 |
|
| ===================================== | =============================== | ===================================== | ===================================== | ||
| At | At 30 | ||||
| 1 | May 2022 | Income | Expenditure | April 2023 | |
| £ | £ | £ | £ | ||
| Unrestricted Funds | 738,270 | 231,607 | (249,433) | 720,444 |
|
| ===================================== | ===================================== | ===================================== | ===================================== | ||
| 18. | Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | ||||
| Funds | 2024 | ||||
| £ | £ | ||||
| Current assets | 620,767 | 620,767 | |||
| Creditors less than 1 year | (2,400) | (2,400) |
|||
| ------------------------------------- | ------------------------------------- | ||||
| Net assets | 618,367 | 618,367 | |||
| ===================================== | ===================================== | ||||
| Unrestricted | Total Funds | ||||
| Funds | 2023 | ||||
| £ | £ | ||||
| Current assets | 1,258,024 | 1,258,024 | |||
| Creditors less than 1 year | (537,580) | (537,580) |
|||
| ----------------------------------------------- | ----------------------------------------------- | ||||
| Net assets | 720,444 | 720,444 | |||
| =============================================== | =============================================== |
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Docusign Envelope ID: 4064BB4F-C645-4DAA-97E6-3339EA035089Docusign Envelope ID: 6550F9AD-BFA6-47F2-B927-DD9B4292DFA1
THE RABBI MOSHE & LEAH DERMER FOUNDATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 APRIL 2024
19. Related parties
Donations received includes amounts aggregating £10,000 which were received from companies connected with the Trustees. No conditions were attached to any of the donations.
Included in Other Debtors are amounts aggregating £342,203 due from companies connected with the Trustees. Investment income represents interest charged on these amounts of £46,060. These loans are repayable on demand.
All loans are secured by guarantees.
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