2023-01-31-accounts - Sf Foundation

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				Pages
Trustees' annual report	(incorporating	the director's report)		1to7
independent auditor's	report to the members			8to 12
Statement offinancial account)	activities (including		incoine and expenditure	13
Statement offinancial	position			14
Statement ofcash flows				15
Notes to the financial	statements			16to 28

Reference and administrative d	Reference and administrative d	etails
Registered charity name		SFFoundation
Charity registration	number	1105843
Company registration	number	05213113
Principal offtce and registered		143Upper Clapton Road
office		London
		E59DB
The trustees		Hannah Lipschitz
		Rifka Niederman
		Miriam Schreiber
Company secretary		Rifka Niedermao
Auditor		Cohen Arnold
		Chartered accountants		4t statutory	auditor
		New Burhngton	House
		1075Finchley Road
		LONDON
		NW1 1 OPU
Bankers		HSBCBank Plc
		39High Street
		Ashford
		Kent
		TN24 8TG
Solicitors		Lopian Wagner Solicitors
		Maybrook House
		40BlackFriars Street
		Manchester
		M3 ZEG

		31January	2023	2023
			2023		2022
			Unrestricted
			funds	Total funds	Total funds
		Note
Income and endowments Donations and legacies Investment income		5 6	3,014,127 3,254,489	3,014,127 3,254,489	346,705 567,156
Total income			6,268,676	6.268.626	913,861
Expenditure
Expenditure on raising funds: Investment management costs Expenditure on charitable activities		7 8,9	(1,296,930) (3,340,119)	(1,296,930) (3,340,119)	(1,094,567) (2,579,367)
Total expenditure			(4,637,049)	(4,637,049)	(3,673,934)
Net gains/(losses) on investments		11	2,232,225	2,232,225	(6,982)
Net income/(expenditure)			3,863,792	3,863,792	i2,767,955i
Other recognised gains Losses from revaluation	and losses offixed assets		(3,083,334)	(3,083,334)	(772,480)
Net movement in funds			780,458	780,458	(3,539,535)
Reconciliation of funds Total funds brought forward			41,549,764	41,549,764	45,089,299
Total fuads carried forward			42,330,222	42,330,222	41,549,764

			Company	Limited by Guarantee	Limited by Guarantee
			Statement ofFinancial Position
			31January 2023
					2023	2022
			Note
Fixed assets Tangible fixed assets Investments				15 16	2&45$ 37125907		1,563 43,825,888
					37,128,365		43,827,451
Current assets Debtors Cash at bank and in hand				17	9,147,646 7,753,804	II,143,268 222,796
					16,901,450	11,366,064
Creditors: amounts within one year	faUing due			1$	(2,4$2,225)	(7,082,379)
Net current assets					14419225		4,283,685
Total assets less current		liabilities			51,547,590		48,111,136
Creditors: amounts more than one year	falling		due after	19	(9,217,368)		(6,561,372)
Net assets					42,330,222		41,549,764
li'unde ofthe charity
Unrestricted funds: Revaluation reserve Other unrestricted income funds					8315614 34,014,60$	10,737,348 30,812,416
Total unrestricted	fiinds				42,330,222	41,549,764
Total charity funds				20	42.336222		47,&49,764

		2023	2022
			f.
Cash flows from operating activities Net income/(expenditure)		3,863,792	(2,767,055)
Adjustments for: Depreciation oftangible fixed assets Net gains/(losses) on investments Dividends, interest and rents from investments Other interest receivable snd similar income		820 (2,232,225) (2,367,314) (887,175)	535 6,982 (2,158,381) 1,591,225
Interest payable snd similar charges		551,960	149,107
Changes in: Trade and other debtors		1,193,633	(357,555)
Trade and other creditors		(569,390)	571,403
Cash generated from operations		(445,899)	(2,963,739)
Interest paid Interest received		(554,508) 1&689,164	(145,677) 776,406
Net cash from/(used in) operating activities		688 757	(2 3330I 0)
Cash flows from investing activities Dividends, interest and rents from investments		2,367,314	2,158,381
Purchase oftangible assets Purchases ofother investments		(1,715) (24,987)	(1,344,080)
Proceeds from sale ofother investments		5,873,859	468,018
Net cash from investing actiidties		8,214,471	1,282,319
Cash flows from financing activities Proceeds from boirowings		(1,372,220)	(1,729,598)
Net cash used in financing activities		(1,372,220)	(1,729,598)
Net increase/(decrease) in cash and cash Cash and cash equivalents at beginning	equivalents ofyear	7,531,008 222,796	(2,780,289) 3,003,085
Cash and cash equivalents at end ofyear		7,753,804	222,796

5.	Donations and legacies
			Unrestricted	Total Funds	Unrestricted	Total Funds
			Funds	2023	Funds	2022
	Donations Donations receivable		3,014,127	3,014,127	346,705	346,705
6.	Investment income
			Unrestricted	Total Funds	Unrestricted	Total Funds
			Funds	2023	Funds	2022
	Income from UK investment Bank interest receivable Loan interest receivable	properties	2,367,314 67,503 410,705	2,367,314 67,503 410,705	2,158,381 5 (1,694,617)	2,158,381 5 (1,694,617)
	Foreign currency exchange gains	(losses)l	408,967	408,967	103,387	103,387
			3,254,489	3,254,489	567, 756	567,156

Investment managemen
	Unrestricted	Total Funds	Uurestrrcted	Total Funds
	Funds	2023	Funds	2022
interest payable snd similar charges Investment management costs Bank charges	551,960 743,691 1,279	551,960 743,691 1,279	149,107 944,278 1,182	149,107 944,278 1,182
	1,296 930	1,296,930	1,094,567	1,094,567

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2023	Funds	2022
		K
Donations paid Support costs	3,285,215 54,904	3/85/15 54,904	2,505,802 73,565	2,505,802 73,565
	3,340,119	3,340,119	2,579,367	2,5799367

Expenditur	e on charitable	activities by activity typ	e
		Grant funding		Total funds	Total fund
		ofactivities	Support costs	2023	2022
Donations Governance	paid costs	3,285,215	54,904	3,285,215 54,904	2,505,802 73,565
		3285,215	54,904	3,340,119	2,579,367

Side BySide School Ltd Moreshet Hatorah Ltd		235,000 210,000
Chevras Mo'oz Ladol		147,436
Kollel Viznitz London		128,750
OdcG Schreiber Charitable Trust		120,000
Live and Learn		115,000
Shir Chesed Beis Yisroel		105,500
Friends Of Sanz Jnstitutions		98,000
United Talmu dical Associates Ltd		97,330
Congregation Sharei Sholom Tchabe Ltd Bait Limud Vchesed		78,500 75,875
Friends OfMercaz Hatorah Belz Macnivka		75,000
Start Upright Keren Chochmas Shloma Trust		62,000 55,500
CMZ Ltd		50,000
Low Cost Living Ltd Ozar Lenetzrochim Ltd		50,000 50,000
Zoreya Tzedokos Chasdei Sholom		50,000 49,000
KYL Central Shul Trust		47,957
V'yoel Moshe Charitable Trust Khal Chasdei Yerushalayim Mifal Hachesed Vehatzedokoh		47,800 46,181 46,000
Amud Hatzodoka Trust		44,408
Kupath Chasdei Aharon Ltd Yeshiva Gedotah Seminary Beis Aharon TT Activity Centre Widows Charity dt RehabiTitation Refuah Helpline Kollel Veyoel Moshe Lehachzikom UK	Trust	38,800 36,496 35,000 34,050 32,919 32,000 30,941
Ahavat Yisroel UK		30,000
Toldos Aharon Trust Ltd		29,800
Mercaz Torah Vechesed Ltd		25,500
Friends OfBeis Chinuch Lebonos	Trust	25,000
Friends OfBeis Soroh Schneirer		25,000
One Heart —Lev Echod		25,000
Amounts below f25,000		799,472
Total Grants Payable		3,285,215

y and the donations have been made for general charitable pur analysed as follows:	poses. The donations can be
	2023
Advancement ofjewish religion and education Grants to other grant making charities Relief ofpoverty General charitable purposes	1,930,244 209,631 402,424 742,916
Total	3,285,215

10.	Analysis of	s	uppo	rt cost	s
							Legal and
						General	Professional
					Audit fees	expenses f.	fees 6	Total 2023 t	Total 2022
	Governance	costs			40,703	13,436	765	54,904	73,565
11.	Net gains/(losses)			on investments
						Unrestricted	Total Funds	Unrestricted	Total Funds
						Funds	2023	Funds	2022
	Gains/(losses) assets		on	other investment		2,232,225	2/32,225	(6,982)	(6,982)
12.	Net income/(expenditure)
	Net income/(expenditure)				is stated atter	charging/(crediting):		2023	2022
	Depreciation Fees payable		of tangible fixed assets for the audit ofthe financial statements					820 40,703	535 36,201

15.	~ no remuneration or other benefits from employment received by the trustees; and ~ no trustee expenses were borne by the charity. Tangible Axed assets	with the charity or a related	entity were
		Fixtures and
		fittings	Total
	Cost
	At I February 2022 Additions	15,874 1,715	15,874 1,715
	At 31January 2023	17,589	17,589
	Depreciation At I February 2022 Charge for the year	14,311 820	14,311 820
	At 31January 2023	15,131	15,131
	Carrying amount At 31January 2023	2,458	2,458
	At 31January 2022	1,563	1,563
16.	Investments
			Investment
			properties
	Cost or valuation At l February 2022 Additions		43,825,888 24,987
	Dispossls Fair value movements		(3,641,634) (3,083,334)
	At 31January 2023		379125,907
	Impairment
	AtIFebruary 2022 and 31January 2023
	Carrying amount At 31January 2023		37,125,957
	At 31January 2022		43,825,888

taking into account the age and condition ofthe prop Debtors	erties.
	2023	2022
	f.
Trade debtors Prepayments and accrued income Investment Loans	978,609 16343$ 7,417,550	810,597 972,294 8,718,134
Other debtors	5881249	642,243
	9,141,646	11,143,268

18.	The majority ofthe investment loans are repayable on demand an at between 4%and 6%per annum. Creditors: amounts falling due within one year	d are secured and	yield interest
		2023	2022
	Bank loans and overdrails Trade creditors Accruals and deferred income Social security and other taxes Loan Creditors	330,501 350,160 256,927 68,$14 1,475&823	4,358,717 1,421,587 263,001 99,185 939,889
		2,482,225	7,082,379
19.	Creditors: amounts falling due after more than one year
		2023	2022
	Bank loans and overdratts	9,217,368	6,561,372

annum a Analysis	nd are secured by way offixed legal charges over the ofloans:	charity's investment pr	operties.
		2023	2022
Total Bank Loans		9,547,869	10,920,089
Included	in current liabilities	(330,501)	(4,358,717)
		9,217,368	6,561,372
Loan maturity analysis:		2023	2022
		f
In more In more ln more	than one year but no more than two years than two years but not more than five years than five years	5,300,000 3,666,667 2507701	6283680 277,692
Total		9217368	6561 372

		At				Gains and At
		1Feb 2022	Income	Expenditure	Transfers	losses31 Jan2023
		f	f
General	funds	30,812,416	6,268,616	(4,637,049)	(661,600)	2,232,225 34,014,608
Revaluation reserve		10,737,348			661,600	(3,083,334) 8,315,614
		41,549,764	6,268,616	(4,637,049)		(851,109) 42,330,222
		At				Gains and At
		I Feb 2021	Income f	Expenditure f	Transfers f	losses 31Jan 2022 f f
General	funds	33,394,531	913,861	(3,673,934)	184,940	(6,982) 30,812,416
Revaluation reserve		11,694,768			(184,940)	(772,480) 10,737,348
		45,089,299	913,861	(3,673,934)		(779,4627 41,749,764

Analysis ofnet ass
	Unrestricted	Total Funds
	Funds	2023
Tangible fixed assets Current assets	37,128,365 16,901,450	37,128,365 16,901,450
Creditors less than 1 year Creditors greater than 1 year	(2,482,225) (9,217,368)	(2,482,225) (9,217,368)
Net assets	42,330,222	42,330,222
	Unrestricted	Total Funds
	Funds	2022
	f
Tangible fixed assets Current assets	43 827 451 11,366,064	43,827,451 11,366,064
Creditors less than 1 year Creditors greater than 1 year	(7,082,379) (6,561,372)	(7,082,379) (6,561,372)
Net assets	41,549 764	41,549 764

	with the t	rustees.
							2023	2022
							f.
	Alta Integration Ltd West Pimbo Ltd						2,800,000	210,000
	Donations	&f.100,000					202,570	68,705
23.	Financial	instruments
	The carrying amount for each		category offinancial		instrument	is as	follows: 2023	2022
	Financial	assets that are debt instruments		measured at amoriised cost
	Financial	assets that are debt instruments measured			at amortised
	cost						16,901,450	11,366064
	Financial Financial	liabilities measured liabilities measured	at amortised cost at amortised cost				11,699,593	13,643,751

				At
		At 1 Feb 2022	Cash flows	31Jan 2023
Cash Debt Debt	at bank snd in hand due within one year due after one year	222,796 (4,358,717) (6,561,372)	7,531,008 4,028,216 (2,655„996)	7,753,804 (330,501) (9,217,368)
		(10,697,293)	8,903,228	(1,794,865)