COMPANY REGISTRATION NUMBER: 4417664 CHARITY REGISTRATION NUMBER: 1119825
SAMEACH
Company Limited by Guarantee Unaudited Financial Statements
30 April 2022
WHITESIDE AND DAVIES ACCOUNTANTS LTD
Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE
SAMEACH
Company Limited by Guarantee
Financial Statements
Year ended 30 April 2022
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 9 |
SAMEACH
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30 April 2022
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 2022.
Reference and administrative details
Registered charity name SAMEACH Charity registration number 1119825 Company registration number 4417664 Principal office and registered 81 Bewick Road office Gateshead NE8 1RR
The trustees
J Halberstadt MY Salzer YM Halberstadt Independent examiner H Davies FCCA 158 Cromwell Road Salford M6 6DE
Structure, governance and management
Sameach is a company limited by guarantee incorporated on 16 April 2002 and registered as a charity on 16 April 2002 and is governed by its memorandum and articles of association. There are no executive officer nor any other staff employed in the charity. The day to day affairs are undertaken by Mr Halberstadt on behalf of the trustees. All major decisions are taken collectively by the trustees and all the trustees give their time freely.
Recruitment and appointment of new trustees is in line with the memorandum and articles of association and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
1
SAMEACH
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 April 2022
Objectives and activities
The objects of the charity are to promote:
- the relief of poverty amongst the elderly and persons in conditions of need, hardship and distress within the Jewish community. This includes assistance to ensure the availability of affordable: - housing for persons and families in need. - the advancement of the Jewish orthodox religion - the advancement of Education according to the tenants of the Jewish orthodox religion - support for community organisations especially where the services provided are delivered in a culturally sensitive manner - to promote any charitable purpose for the benefit of the Jewish community.
The policy of the charity is to provide the support irrespective of the ability of the beneficiaries to contribute to the charitable services provided.
In the furtherance of these charitable objects, the charity is to raise funds and invite and receive from any person or persons whatsoever by way of subscription, donation and otherwise, provided that the charity does not undertake any permanent trading activities in raising funds for their charitable objects.
Investment policy and returns
Under the trust deed the charity has the power to make any investment which the trustees see fit. The trustees have considered the most appropriate policy for investing funds and consider the investment in investment properties meet the charities requirements to establish a capital base which is income producing.
The trustees have extensive experience in the field of property investment accumulated over a period of time. Valuations are derived having consulted with local estate agents and with the trustees best estimation of market value at the balance sheet date.
The trustees consider the investment properties have performed well during the year, particularly when compared both with overall market rental returns and returns available from bank deposits.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
The charity continued to support a range of programmes over the past year. Particular focus was placed on supporting and assisting local organisations in particular those providing educational services and those providing relief of poverty and financial hardship.
The charity has continued to offer support to L'chu Vonim Youth Centre, a local volunteer led charity which provides out of hours activities for local youth.
The charity also continued to offer support for special educational projects whereby students who have difficulty in the ordinary classroom framework are offered further assistance to enable them to progress in their studies and ultimately become valuable members of society.
2
SAMEACH
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 April 2022
Financial review
Income for the year increased by £63,580 on the prior year. The trustees are satisfied with the results during the year.
Governance costs have remained in line with previous years.
Direct charitable expenditure decreased slightly despite the increase in incoming resources.
General running costs of the charity are kept low and where these arise are funded by the Trustees. Governance costs such as annual return and accountancy expenses are funded by the Charity. In the current year the charity was successful in meeting its aims. The Trustees would like to record their appreciation for all the financial support received from the charity's donors during the course of the year.
Funds are available to permit the charity to continue in operation in the medium to long term and to continue to fund worthwhile projects.
Arrangements are in hand to continue to raise funds to finance the charity's activities and projects.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.
The trustees' annual report and the strategic report were approved on 1 February 2023 and signed on behalf of the board of trustees by:
YM Halberstadt Trustee
3
SAMEACH
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of SAMEACH
Year ended 30 April 2022
I report to the trustees on my examination of the financial statements of SAMEACH ('the charity') for the year ended 30 April 2022.
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
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
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).
4
SAMEACH
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of SAMEACH (continued)
Year ended 30 April 2022
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.
H Davies FCCA Independent Examiner
158 Cromwell Road Salford M6 6DE
5
SAMEACH
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 30 April 2022
| 2022 | 2022 | 2021 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 185,076 | 185,076 | 128,839 |
| Investment income | 6 | 72,954 | 72,954 | 65,611 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 258,030 | 258,030 | 194,450 | |
| ================================ | ================================ | ================================ | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Investment management costs | 7 | 13,803 | 13,803 | 8,823 |
| Expenditure on charitable activities | 8,9 | 153,808 | 153,808 | 124,249 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 167,611 | 167,611 | 133,072 | |
| ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income and net movement in funds | 90,419 | 90,419 | 61,378 | |
| ================================ | ================================ | ================================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 1,227,086 | 1,227,086 | 1,165,708 | |
| ----------------------------------------- | ----------------------------------------- | ----------------------------------------- | ||
| Total funds carried forward | 1,317,505 | 1,317,505 | 1,227,086 | |
| ========================================= | ========================================= | ========================================= |
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 9 to 17 form part of these financial statements.
6
SAMEACH
Company Limited by Guarantee
Statement of Financial Position
30 April 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Investments | 15 | 887,381 | 822,381 |
| Current assets | |||
| Debtors | 16 | 395,750 | 395,750 |
| Cash at bank and in hand | 461,913 | 430,419 | |
| -------------------------------- | -------------------------------- | ||
| 857,663 | 826,169 | ||
| Creditors: amounts falling due within one year | 17 | 74,776 | 61,576 |
| -------------------------------- | -------------------------------- | ||
| Net current assets | 782,887 | 764,593 | |
| ----------------------------------------- | ----------------------------------------- | ||
| Total assets less current liabilities | 1,670,268 | 1,586,974 | |
| Creditors: amounts falling due after more than one year | 18 | 352,763 | 359,888 |
| ----------------------------------------- | ----------------------------------------- | ||
| Net assets | 1,317,505 | 1,227,086 | |
| ========================================= | ========================================= | ||
| Funds of the charity | |||
| Unrestricted funds | 1,317,505 | 1,227,086 | |
| ----------------------------------------- | ----------------------------------------- | ||
| Total charity funds | 19 | 1,317,505 | 1,227,086 |
| ========================================= | ========================================= |
For the year ending 30 April 2022 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.
The statement of financial position continues on the following page.
The notes on pages 9 to 17 form part of these financial statements.
7
SAMEACH
Company Limited by Guarantee
Statement of Financial Position (continued)
30 April 2022
These financial statements were approved by the board of trustees and authorised for issue on 1 February 2023, and are signed on behalf of the board by:
YM Halberstadt Trustee
The notes on pages 9 to 17 form part of these financial statements.
8
SAMEACH
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 April 2022
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 81 Bewick Road, Gateshead, NE8 1RR.
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
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
9
SAMEACH
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 April 2022
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure 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.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
10
SAMEACH
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 April 2022
3. Accounting policies (continued)
Investments (continued)
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in income or expenditure.
If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
11
SAMEACH
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 April 2022
3. Accounting policies (continued)
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
12
SAMEACH
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 April 2022
3. Accounting policies (continued)
Financial instruments (continued)
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
The organisation is a charitable company limited by guarantee, in the event of the company being wound up members are required to contribute an amount not exceeding £10.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 185,076 | 185,076 | 118,839 | 118,839 |
| Grants | ||||
| Grants receivable | – | – | 10,000 | 10,000 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 185,076 | 185,076 | 128,839 | 128,839 | |
| ================================ | ================================ | ================================ | ================================ |
6. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Income from investment properties | 66,422 | 66,422 | 63,389 | 63,389 |
| Income from cash investments | 6,532 | 6,532 | 2,222 | 2,222 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 72,954 | 72,954 | 65,611 | 65,611 | |
| ============================ | ============================ | ============================ | ============================ |
13
SAMEACH
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 April 2022
7. Investment management costs
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Property repairs and maintenance | ||||
| charges | 6,720 | 6,720 | 603 | 603 |
| Management fees | 2,275 | 2,275 | 1,582 | 1,582 |
| Insurance | 1,074 | 1,074 | 1,499 | 1,499 |
| Professional fees | – | – | 1,459 | 1,459 |
| Mortgage interest | 3,734 | 3,734 | 3,680 | 3,680 |
| ---------------------------- | ---------------------------- | ----------------------- | ----------------------- | |
| 13,803 | 13,803 | 8,823 | 8,823 | |
| ============================ | ============================ | ======================= | ======================= |
8. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Charitable activities | 152,358 | 152,358 | 123,436 | 123,436 |
| Support costs | 1,450 | 1,450 | 813 | 813 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 153,808 | 153,808 | 124,249 | 124,249 | |
| ================================ | ================================ | ================================ | ================================ |
9. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Grant funding |
Support | Total funds | Total fund | |
| directly | of activities |
costs | 2022 | 2021 | |
| £ | £ | £ | £ | £ | |
| Charitable activities | 15 | 152,343 |
150 | 152,508 | 123,586 |
| Governance costs | – | – |
1,300 | 1,300 | 663 |
| -------------- | -------------------------------- | ----------------------- | -------------------------------- | -------------------------------- | |
| 15 | 152,343 |
1,450 | 153,808 | 124,249 | |
| ============== | ================================ | ======================= | ================================ | ================================ |
10. Analysis of support costs
| Analysis of | |||
|---|---|---|---|
| support costs | Total 2022 | Total 2021 | |
| £ | £ | £ | |
| Finance costs | 150 | 150 | 150 |
| Governance costs | 1,300 | 1,300 | 663 |
| ----------------------- | ----------------------- | -------------- | |
| 1,450 | 1,450 | 813 | |
| ======================= | ======================= | ============== |
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SAMEACH
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 April 2022
11. Analysis of grants
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Grants to institutions | |||
| Achisomoch | 5,000 | 6,000 | |
| Asser Bishvil Foundation | 10,000 | 2,800 | |
| Ateres | 7,500 | 9,275 | |
| Bolel CT | 6,800 | – | |
| Beis Chinuch Edgware | – | 6,000 | |
| Friends of Chevron | – | 6,500 | |
| Gateshead Beis Hatalmud | 10,072 | – | |
| Gateshead Cheder | 6,750 | 5,320 | |
| Gateshead Jewish Boarding School | 3,554 | 4,235 | |
| Gateshead Jewish Primary School | 8,800 | 10,562 | |
| Lchu Vonim Youth Group | 24,800 | 2,000 | |
| Other small donations less than £5,000 | 22,404 | 12,282 | |
| Realmstates | – | 12,500 | |
| UK Toremet | 34,054 | – | |
| Yad Eliezer Trust | – | 25,000 | |
| Yeshaya Adler Memorial Fund | 12,609 | 9,222 | |
| -------------------------------- | -------------------------------- | ||
| 152,343 | 111,696 | ||
| -------------------------------- | -------------------------------- | ||
| Total grants | 152,343 | 111,696 | |
| ================================ | ================================ | ||
| 12. | Independent examination fees | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 1,300 | 1,300 | |
| ======================= | ======================= |
13. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2022 2021 £ £
The average head count of employees during the year was Nil (2021: Nil).
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
14. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees
15
SAMEACH
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 April 2022
15. Investments
| Cash or cash | Investment | ||
|---|---|---|---|
| equivalents | properties | Total | |
| £ | £ | £ | |
| Cost or valuation | |||
| At 1 May 2021 | 65,000 | 757,381 | 822,381 |
| Additions | 65,000 | – | 65,000 |
| -------------------------------- | -------------------------------- | -------------------------------- | |
| At 30 April 2022 | 130,000 | 757,381 | 887,381 |
| ================================ | ================================ | ================================ | |
| Impairment | |||
| At 1 May 2021 and 30 April 2022 | – | ||
| ================================ | |||
| Carrying amount | |||
| At 30 April 2022 | 130,000 | 757,381 | 887,381 |
| ================================ | ================================ | ================================ | |
| At 30 April 2021 | 65,000 | 757,381 | 822,381 |
| ================================ | ================================ | ================================ |
All investments shown above are held at valuation.
Investment properties
In the trustees opinion the current market value of investment properties is not materially different to the cost at the balance sheet date.
16. Debtors
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 1,563 | 1,563 |
| Other debtors | 394,187 | 394,187 |
| -------------------------------- | -------------------------------- | |
| 395,750 | 395,750 | |
| ================================ | ================================ | |
| Creditors: amounts falling due within one year | ||
| 2022 | 2021 | |
| £ | £ | |
| Accruals and deferred income | 1,640 | 1,640 |
| Other creditors | 73,136 | 59,936 |
| ---------------------------- | ---------------------------- | |
| 74,776 | 61,576 | |
| ============================ | ============================ | |
| Creditors: amounts falling due after more than one year | ||
| 2022 | 2021 | |
| £ | £ | |
| Bank loans and overdrafts | 152,763 | 159,888 |
| Other creditors | 200,000 | 200,000 |
| -------------------------------- | -------------------------------- | |
| 352,763 | 359,888 | |
| ================================ | ================================ |
17. Creditors: amounts falling due within one year
18. Creditors: amounts falling due after more than one year
16
SAMEACH
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 April 2022
19. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 | May 2021 | Income | Expenditure | 30 Apr 2022 | |
| £ | £ | £ | £ | ||
| General funds | 1,227,086 | 258,030 | (167,611) | 1,317,505 |
|
| ========================================= | ================================ | ================================ | ========================================= | ||
| At | At | ||||
| 1 | May 2020 | Income | Expenditure | 30 Apr 2021 | |
| £ | £ | £ | £ | ||
| General funds | 1,165,708 | 194,450 | (133,072) | 1,227,086 |
|
| ========================================= | ================================ | ================================ | ========================================= |
20. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2022 | |
| £ | £ | |
| Investments | 887,381 | 887,381 |
| Current assets | 857,663 | 857,663 |
| Creditors less than 1 year | (74,776) | (74,776) |
| Creditors greater than 1 year | (352,763) | (352,763) |
| ----------------------------------------- | ----------------------------------------- | |
| Net assets | 1,317,505 | 1,317,505 |
| ========================================= | ========================================= | |
| Unrestricted | Total Funds | |
| Funds | 2021 | |
| £ | £ | |
| Investments | 822,381 | 822,381 |
| Current assets | 826,169 | 826,169 |
| Creditors less than 1 year | (61,576) | (61,576) |
| Creditors greater than 1 year | (359,888) | (359,888) |
| ----------------------------------------- | ----------------------------------------- | |
| Net assets | 1,227,086 | 1,227,086 |
| ========================================= | ========================================= |
21. Related parties
The charity invested £65,000 in an investment property purchase, in a company in which one of the Trustees is a shareholder.
During the year the charity paid grants of £7,500 (2021 - £9,275) to Ateres, a charity of which Mr Y Halberstadt is also a Trustee.
17