Charity Registration No. 1097871
Company Registration No. 04323368 (England and Wales)
COMET CHARITIES LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
COMET CHARITIES LTD
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | B C Joseph |
|---|---|
| M Lisser | |
| L Wolf | |
| Charity number | 1097871 |
| Company number | 04323368 |
| Registered office | 63 Cranbourne Gardens |
| London | |
| UK | |
| NW11 0JB | |
| Auditor | Goldwins Limited |
| 75 Maygrove Road | |
| West Hampstead | |
| London | |
| NW6 2EG |
COMET CHARITIES LTD
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Statement of trustees' responsibilities | 3 |
| Independent auditor's report | 4 - 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Statement of cash flows | 9 |
| Notes to the financial statements | 10 - 16 |
COMET CHARITIES LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2021
The trustees present their annual report and financial statements for the year ended 31 July 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) " (effective 1 January 2019 ).
Objectives and activities
Objectives and aims
The Charity's was established to support the advancement of Jewish religious education .
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
Significant activities
During the year, grants to schools and other charities amounted to £ 2, 095 , 509 (2020: £ 2, 196 , 239).
Grant making
Grants are made to charitable institutions and organisations which accord with the objects of the Charity.
Achievements and performance
Charitable activities
The trustees consider that the performance of the charity this year has been most satisfactory. Substantial funds have been granted to institutions during the period from the contributions received from donors.
The Statement of Financial activities shows a surplus for the year of £99,295 after making grants of £ 2, 095 , 509 and the reserves stand at £222,479.
Financial review
Principal funding sources
The charity is pleased and fortunate to receive donations from a number of organisations and individuals.
Reserves policy
During the year charity's income exceeded the expenses incurred. The trustees are satisfied with the results for the year. The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity.
Going concern
The accounts have been prepared on the going concern basis. The trustees consider that there are no material uncertainties regarding the charity's ability to continue in operational existence for the foreseeable future, which is deemed to be 12 months from the date of the approval of the financial statements.
Risk management
The trustees have assessed the major risks to which the Charity is exposed . Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that systems and procedures mitigate any perceived risks.
FUTURE PLANS
There are no significant future plans to report, other than to continue to raise funds and make charitable donations to continue to meet the current objectives.
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COMET CHARITIES LTD TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY2021 structuro, governance and managernenl Governlng document The Gharily is conlrolled by ils governing document, the mernorandum and articles of assoclation, and conslitules a company limitèd by guarantee as defined by the Companies Aol 2006. The trustees. who are also thè dlrectors for the purpose of company law, and who geNed durlng the yèar and up lo the dale of slgnalure of the flnancial statements were.. B C Joseph M Lis5er L Wolf Recrullment and appolhtment of new trustees If necessary, new trustees 8re recrulted from the personal conlocts of exlsling trustees. Organlsotlonal BtruGtUTe The trustees m8nage the day to day running of tha charity 8nd make 811 derisions. Inductlon and tralnlng of new trustee8 New Iruslees undergo a brleflng lo ensur¢ they are aware of both Ihelr legal Bnd profe551onal responslbllllles under charity and company law. Audltor In accordance wllh the company's 8rtiGles, a resolutlon proposlng Ihal Goldwins Llmlted be reappolnled as auditor of the company will be pul al a Gen8ral Meeting. Dlsclosure of Informat¢on to auditor The truste88 have confirmed that there is no infomialion of whlch Ihgy are aware which 18 relevant lo the audll, bul of which the auditor is unaware. They have further confirmed that they have taken approprlate steps lo Identify such relevant infom)alion and lo establlsh that the auditor is awarg of such infom18tlon. The Irusiees, report was pproved by the Board of Trustees. M Llssey Trustee Dgttsd: os
COMET CHARITIES LTD
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 JULY 2021
The trustees, who are also the directors of Comet Charities Ltd for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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COMET CHARITIES LTD
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF COMET CHARITIES LTD
Opinion
We have audited the financial statements of Comet Charities Ltd (the ‘Charity’) for the year ended 31 July 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice) .
In our opinion, the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 July 2021 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and , except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
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the information given in the trustees' r eport, which includes the d irectors ' r eport prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the d irectors ' r eport included within the trustees' r eport has been prepared in accordance with applicable legal requirements.
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COMET CHARITIES LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF COMET CHARITIES LTD
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the d irectors ' r eport included within the trustees' r eport.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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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 prepare the financial statements in accordance with the small companies regime and take advantage of the small companies ' exemptions in preparing the trustees' r eport and from the requirement to prepare a s trategic r eport.
Responsibilities of trustees
As explained more fully in the s tatement of trustees' r esponsibilities, the trustees, who are also the directors of the Charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below .
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COMET CHARITIES LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF COMET CHARITIES LTD
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:
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We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity's policies and procedures relating to the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
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We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
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In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the 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.
Anthony Epton (Senior Statutory Auditor) for and on behalf of Goldwins Limited
.........................
Chartered Accountants Statutory Auditor
10 February 2022
75 Maygrove Road West Hampstead London NW6 2EG
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COMET CHARITIES LTD
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2021
| Unrestricted Restricted funds funds 2021 2021 Notes £ £ Income from: Donations and legacies 3 1,687,977 611,104 Investments 4 47 - Total income 1,688,024 611,104 Expenditure on: Raising funds 5 3,058 - Charitable activities 6 1,585,671 611,104 Total expenditure 1,588,729 611,104 Net income for the year/ Net movement in funds 99,295 - Fund balances at 1 August 2020 123,184 - Fund balances at 31 July 2021 222,479 - |
TotalUnrestricted funds 2021 2020 £ £ 2,299,081 2,129,959 47 100 2,299,128 2,130,059 3,058 41,250 2,196,775 2,079,959 2,199,833 2,121,209 99,295 8,850 123,184 114,334 222,479 123,184 |
Restricted funds 2020 £ 262,181 - 262,181 - 262,181 262,181 - - - |
Total 2020 £ 2,392,140 100 2,392,240 41,250 2,342,140 2,383,390 8,850 114,334 123,184 |
|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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COMET CHARITIES LTD BALANCE SHEET ASAT 31 JULY2021 2021 2020 Current assets C88h at bank and in hand 276,479 f27,184 Credllors: amounts falllny due wlthln one ygar 12 14,0001 (4,0) Net rIen1 88sels 272,479 123.184 Cr¢dltor8: amounts falllng dufr after more than one year 13 150,0001 Net assets 222.479 123,184 Income funds Unreslrfcled fund3 222.479 123.184 222,479 123.184 The financial statements wera approved by the Trustses on M Llsser Trust¢¢ Company Roglstratlon No. 04323368
COMET CHARITIES LTD
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2021
| Notes Cash flows from operating activities Cash generated from operations 15 Investing activities Investment income received Net cash generated from investing activities Financing activities Increase in bank loans Net cash generated from/(used in) financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
2021 £ 47 50,000 |
£ 99,248 47 50,000 149,295 127,184 276,479 |
2020 £ 100 - |
£ 4,150 100 - 4,250 122,934 127,184 |
|---|---|---|---|---|
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COMET CHARITIES LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
1 Accounting policies
Charity information
Comet Charities Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 63 Cranbourne Gardens, London, NW11 0JB, UK.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling , which is the functional currency of the Charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
1.4 Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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COMET CHARITIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
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Costs of raising funds comprise of costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
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Expenditure on charitable activities includes the costs of delivering services undertaken to further the purposes of the charity and their associated support costs.
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Other expenditure represents those items not falling into any other heading.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Charity ’s contractual obligations expire or are discharged or cancelled.
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COMET CHARITIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
2 Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted Restricted funds funds 2021 2021 £ £ Donations and gifts 1,687,977 611,104 Investments Interest receivable |
TotalUnrestricted Restricted Total funds funds 2021 2020 2020 2020 £ £ £ £ 2,299,081 2,129,959 262,181 2,392,140 UnrestrictedUnrestricted funds funds 2021 2020 £ £ 47 100 |
|---|---|
4 Investments
5 Raising funds
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Fundraising and publicity | ||
| Other fundraising costs | 3,058 | 41,250 |
| 3,058 | 41,250 |
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COMET CHARITIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
6 Charitable activities
| Other charitable activities Grant funding of activities (see note 7) Share of governance costs (see note 8) Analysis by fund Unrestricted funds Restricted funds 7 Grants payable During the year following grants were made to religious educational institutions. Grants to institutions: Beth Jacob Grammer School Commetville Limited Edupoor Limited Jewish Teachers’ Training College Kollel Beis Aharon North London Welfare And Educational Foundation Pardes House Grammer School Tiferes High School Wlodowa Charity And Rehabilitation Trust Torah ( 5759 ) Limited Other donations less than £20,000 |
2021 £ 91,185 2,095,509 10,081 2,196,775 1,585,671 611,104 2,196,775 |
2020 £ 134,797 2,196,239 11,104 2,342,140 2,079,959 262,181 2,342,140 2021 £ 137,850 360,467 70,800 28,300 31,195 132,565 987,196 45,860 35,000 28,300 237,976 2,095,509 |
|---|---|---|
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COMET CHARITIES LTD
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2021
8 Support and governance costs
| Governance costs £ Audit fees 4,000 Legal and professional 3,000 Office and administrative expenses 720 Bank charges 2,361 10,081 Analysed between Charitable activities 10,081 |
2021 £ 4,000 3,000 720 2,361 10,081 10,081 |
2020 £ 4,000 120 4,957 2,027 11,104 11,104 |
|---|---|---|
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
10 Employees
Average number of employees during the year was 0 (2020:0).
11 Loans and overdrafts
| Bank loans Payable after one year |
2021 £ 50,000 50,000 |
2020 £ - - |
|---|---|---|
12 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Accruals and deferred income | 4,000 | 4,000 |
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COMET CHARITIES LTD
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2021
| 13 Creditors: amounts falling due after more than one year 2021 Notes £ Bank loans 11 50,000 14 Analysis of net assets between funds Unrestricted funds Restricted funds TotalUnrestricted funds Restricted funds 2021 2021 2021 2020 2020 £ £ £ £ £ Fund balances at 31 July 2021 are represented by: Current assets/ (liabilities) 272,479 - 272,479 123,184 - Long term liabilities (50,000) - (50,000) - - 222,479 - 222,479 123,184 - 15 Cash generated from operations 2021 £ Surplus for the year 99,295 Adjustments for: Investment income recognised in statement of financial activities (47) Movements in working capital: (Decrease) in creditors - Cash generated from operations 99,248 16 Analysis of changes in net funds At 1 August 2020 Cash flows At 31 £ £ Cash at bank and in hand 127,184 149,295 Loans falling due after more than one year - (50,000) 127,184 99,295 |
2020 £ - Total 2020 £ 123,184 - 123,184 2020 £ 8,850 (100) (4,600) 4,150 July 2021 £ 276,479 (50,000) 226,479 |
|---|---|
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COMET CHARITIES LTD
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
17 Related party transactions
B C Joseph is also a trustee of North London Welfare And Educational Foundation. During the year, grants paid to North London Welfare And Educational Foundation amounted to £132,565 (In 2020 grants paid to North London Welfare And Educational Foundation were £22,300).
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