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← Kehal Charedim Trust

2022-03-31-accounts

Charity Registration No. 1098484

KEHAL CHAREDIM TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

KEHAL CHAREDIM TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr Samuel Berkovitz
Mr David Margulies
Mr Martin Wosner
Mr Israel Karniol
Mr Nathan Bindinger
Charity number 1098484
Registered office 99 Kyverdale Road
London
N16 6PP
Auditor Glazers
843 Finchley Road
London
NW11 8NA
Accountant Precision Ltd
32 Castlewood road
London
N16 6DW

KEHAL CHAREDIM TRUST

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

KEHAL CHAREDIM TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their annual report and financial statements for the year ended 31 March 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) " (effective 1 January 2019 ).

Objectives and activities

The Charity's objectives are the furtherance of the religion of Judaism and the Jewish education and the alleviation of poverty among the Jewish community throughout the world.

The Charity also supports a kollel - an institution for the advancement of Jewish religious study. The students enrolled in the kollel receive stipends at certain points of the year in support of their studies.

The Trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.

Achievements and performance

The Charity owns a property which is being used for providing Jewish education and also serves as a place of worship for the local Jewish Community. There are no restrictions as to who can attend.

In the year under review the charity generated income of £505,635 (2021: £550,154) and incurred expenses of £464,287 (2021: £390,197) resulting in net incoming resources of £41,348.

Financial review

As at 31 March 2022 the Charity had £2,865,662 Unrestricted Funds.

The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity.

Due to the current deficiency in net current assets plus the negative impact on the UK economy as a whole due to the uncertainty surrounding Brexit and the ongoing Covid-19 Pandemic, the trustees intend to further their fundraising efforts in order to ensure that the charities intended reserves policy can be achieved.

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

The charity plans to continue to support the Synagogue and Kollel and fund its activities for the foreseeable future subject to satisfactory income.

KEHAL CHAREDIM TRUST

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Structure, governance and management

The charity Kehal Charedim Trust is constituted and governed by its Trust Deed dated 5 June 2003 and is an unincorporated charity registered with the Charity Commission (Registration No. 1098484).

The day to day affairs of the Charity are administered by the Board of Trustees. It is not currently the intention of the Trustees of the Charity to appoint new trustees. Should the situation change in the future, the Trustees will apply suitable recruitment and training procedures.

None of the Trustees have any beneficial interest in the Charity.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr Samuel Berkovitz

Mr David Margulies Mr Martin Wosner Mr Israel Karniol Mr Nathan Bindinger

Disclosure of information to auditor

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

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

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

Mr Israel Karniol

Trustee Dated: ......................... Jan 30, 2023

KEHAL CHAREDIM TRUST

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2022

The trustees 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).

The law applicable to charities in England and Wales 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 the charity and of the incoming resources and application of resources of the the charity for that year.

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

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

KEHAL CHAREDIM TRUST

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF KEHAL CHAREDIM TRUST

Opinion

We have audited the financial statements of Kehal Charedim Trust (the ‘the charity’) for the year ended 31 March 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice) .

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the 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 the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

KEHAL CHAREDIM TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF KEHAL CHAREDIM TRUST

Matters on which we are required to report by exception

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

Responsibilities of trustees

As explained more fully in the s tatement of trustees r esponsibilities, the trustees 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 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 cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

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

1) Enquiries of management concerning the charity's policies and procedures relating to:

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

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

KEHAL CHAREDIM TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF KEHAL CHAREDIM TRUST

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

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

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

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

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

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matter s

Use of our report

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

Glazers ......................... Chartered Accountants Statutory Auditor 843 Finchley Road London NW11 8NA

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

KEHAL CHAREDIM TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Notes
Income from:
Donations and legacies
3
Charitable activities
Rental Income
4
Investments
5
Total income
Expenditure on:
Charitable activities
6
Net income for the year/
Net movement in funds
Fund balances at 1 April 2021
Fund balances at 31 March 2022		 2022
£
407,093
98,540
2
505,635
464,287
41,348
2,824,314
2,865,662		 2021
£
443,212
106,940
2
550,154
390,197
159,957
2,664,357
2,824,314

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

All income and expenditure derive from continuing activities.

KEHAL CHAREDIM TRUST

BALANCE SHEET

AS AT 31 MARCH 2022

2022 2021
Notes £ £
£		 £ £
£
Fixed assets
Tangible assets 11 3,985,649 4,006,674
Current assets
Debtors 12 480 480 360 360
Cash at bank and in hand 28,466 28,466 77,483 77,483
28,946 28,946 77,843 77,843
Creditors: amounts falling due within
one year 14 (131,187) (132,258)
Net current liabilities (102,241) (54,415)
Total assets less current liabilities 3,883,408 3,952,259
Creditors: amounts falling due after
more than one year 15 (1,017,746) (1,127,945)
Net assets 2,865,662 2,824,314
Income funds
Unrestricted funds - general 2,865,662 2,824,314
2,865,662 2,824,314

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

.............................. .............................. Mr Israel Karniol Mr Nathan Bindinger Trustee Trustee

KEHAL CHAREDIM TRUST

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

2022
Notes
£
£
Cash flows from operating activities
Cash generated from operations
17
62,549
Investing activities
Purchase of tangible fixed assets
(5,269)
Interest received
2
Net cash used in investing activities
(5,267)
Financing activities
Repayment of bank loans
(106,299)
Net cash used in financing activities
(106,299)
Net (decrease)/increase in cash and cash
equivalents
(49,017)
Cash and cash equivalents at beginning of year
77,483
Cash and cash equivalents at end of year
28,466
Relating to:
Cash at bank and in hand
28,466		 2021
£
(24,680)
2
(50,115)		 £
130,519
(24,678)
(50,115)
55,726
21,757
77,483
77,483

KEHAL CHAREDIM TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

Kehal Charedim Trust is a unincorporated charity governed by its declaration of trust .

1.1 Accounting convention

The financial statements have been prepared in accordance with the the charity's [governing document], the Charities Act 2011, 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 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 the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

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

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future , notwithstanding the deficiency in net current assets, due to the continued financial support from the community. 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 the charity.

1.4 Incoming resources

Income is recognised when the 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 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 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.

KEHAL CHAREDIM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

1.5 Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

E xpenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

Grant making policy

The trustees will judge each application for a grant on its merit. It will assess whether the application falls within the remit of the Charity.

The trustees will aim to meet regularly with the intention of assessing each grant application.

1.6 Tangible fixed assets

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

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

Fixtures and fittings 15%

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

1.7 Impairment of fixed assets

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

1.8 Cash and cash equivalents

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

1.9 Financial instruments

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

Financial instruments are recognised in the the charity 's balance sheet when the the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

KEHAL CHAREDIM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

Basic financial assets

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

Basic financial liabilities

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

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

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

Derecognition of financial liabilities

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

2 Critical accounting estimates and judgements

In the application of the 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 Unrestricted
funds funds
general general
2022 2021
£ £
Donations and gifts 396,387 434,916
Membership fees 10,706 8,296

KEHAL CHAREDIM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

4 Charitable activities

Charitable
Charitable Income
Charitable Income
Income
2022 2021
£ £
Charitable rental income 98,540 106,940
5 Investments
Unrestricted Unrestricted
funds
funds
general
general
2022
2021
£
£
Interest receivable 2
2
6 Charitable activities
Charitable
Charitable
Expenditure
Expenditure
2022
2021
£
£
Depreciation and impairment 26,294
30,005
Direct costs 207,330
140,795
233,624
170,800
Grant funding of activities (see note 7) 225,498
214,634
Share of governance costs (see note 8) 5,165
4,763
464,287
390,197
7 Grants payable
2022 2021
£ £
Grants to institutions:
Other 143,235 119,519
Grants to individuals 82,263 95,115
225,498 214,634

KEHAL CHAREDIM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

7 Grants payable

(Continued)

The trustees have deemed that it would be seriously prejudicial to give details of recipients, as a result the names of recipients have not been disclosed.

The general purpose of these grants were for the relief of poverty and for the advancement of the Jewish faith.

8 Support costs

Support
costs
Governance
costs
£
£
Audit fees
-
1,440
Accountancy
-
1,800
Bank Charges
-
1,925
-
5,165
Analysed between
Charitable activities
-
5,165		 2022
Support
costs
Governance
costs
£
£
£
1,440
-
1,440
1,800
-
1,680
1,925
-
1,643
5,165
-
4,763
5,165
-
4,763		 2021
£
1,440
1,680
1,643
4,763
4,763

Governance costs includes payments to the auditors of £ 1,440 (2021- £ 1,440 ) for audit fees.

9 Trustees

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

10 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
Total - -

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

KEHAL CHAREDIM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

11
Tangible fixed assets
Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 April 2021
3,836,647
367,114
Additions
-
5,269
At 31 March 2022
3,836,647
372,383
Depreciation and impairment
At 1 April 2021
-
197,087
Depreciation charged in the year
-
26,294
At 31 March 2022
-
223,381
Carrying amount
At 31 March 2022
3,836,647
149,002
At 31 March 2021
3,836,647
170,027
12
Debtors
2022
Amounts falling due within one year:
£
Other debtors
480
13
Loans and overdrafts
2022
£
Bank loans
1,127,713
Payable within one year
109,967
Payable after one year
1,017,746		 Total
£
4,203,761
5,269
4,209,030
197,087
26,294
223,381
3,985,649
4,006,674
2021
£
360
2021
£
1,234,012
106,067
1,127,945

The mortgage loans are secured by a first charge over the organisation's properties and a floating charge over the assets of the organisation, and bear interest at variable rates.

KEHAL CHAREDIM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

14 Creditors: amounts falling due within one year
2022 2021
Notes £ £
Bank loans 13 109,967 106,067
Trade creditors 21,220 26,191
131,187 132,258
15 Creditors: amounts falling due after more than one year
2022 2021
Notes £ £
Bank loans 13 1,017,746 1,127,945
16 Related party transactions
There were no disclosable related party transactions during the year (2021 - none) .
17 Cash generated from operations 2022 2021
£ £
Surplus for the year 41,348 159,957
Adjustments for:
Investment income recognised in statement of financial activities (2) (2)
Depreciation and impairment of tangible fixed assets 26,294 30,005
Movements in working capital:
(Increase)/decrease in debtors (120) 1,015
(Decrease) in creditors (4,971) (60,456)
Cash generated from operations 62,549 130,519
18 Analysis of changes in net (debt)/funds
At 1 April 2021 Cash flows At 31 March 2022
£ £ £
Cash at bank and in hand 77,483 (49,017) 28,466
Loans falling due within one year (106,067) (3,900) (109,967)
Loans falling due after more than one year (1,127,945) 110,199 (1,017,746)
(1,156,529) 57,282 (1,099,247)