COMPANY REGISTRATION NUMBER.. 06614267 CHARITY REGISTRATION NUMBER: 1124961 Mifal Tzedoko V'chesed Limited Company Limited by Guarantee Financial Statements 30 June 2024 BRINDLEY GOLDSTEIN LIMITED Chartered accountants & statutory auditor 103 High Street Waltham Cross Herts EN8 7AN
Mifal Tzedoko Wchesed Limited Company Limited by Guarantee Financial Statements Year ended 30 June 2024 Page Trustees. annual report (incorporating the director's report) Independent auditorfs report to the members Statement of financial activities (including income and expenditure account) Statement of financial position Statement of cash flows Notes to the financial statements The following pages do not form part of the financial statements Detailed statement of financial activities 10 11 12 13 20
Mifal Tzedoko V'chesed Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 30 June 2024 The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 30 June 2024. Reference and admlnlstrative detalls Mifal Tzedoko V'chesed Limited Registered charity name Charity registration number Company registration number 06614267 Prlncipal office and registered 98 Lewis Gardens offlGe London N16 5PJ 1124961 The trustees Mr D Cimant Mr A Steinmetz Auditor Brindley Goldstein Limited Chartered accountants & statutory auditor 103 High Street Waltham Cross Herts EN8 7AN
Mifal Tzedoko V'chesed Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (contlnu6dJ Year ended 30 June 2024 structure, governance and management Goveming document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Every member of the company undertakes to contribute such an amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member. The trustees, who are also directors for the purpose of company law, and who served during the year and up to the date of signature of the financlal statements were.. David Cirnent Aron Steinmetz The board of trustees may eléct or remove the Chair or any other officers that it wishes. Officers shall be appointed from among the trustees, by a majority vote. None of the trustees have any beneficial interest in the company. None of the trustees are entitled to any remuneration for their seNices. Organisational structure The charity's activity is provide support and activities to young people which develop their skills and capacities to enable them to participate in society as mature and responsible individuals. All decisions made on behalf of the charity ar8 made by the trustees. Objectives and activitles The charity's objects are the advancement of the orthodox Jewish faith and education generally and orthodox Jewish religious education. Furthermore the charity seeks to help in the relief of poverty, sickness and infirmity amongst members of the Jewish faith. The trustees confirm that they have referred lo guidance contained in the commissioners, general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting Ihe grant making policy for the y8ar. strate9ic report The following sections for achievements and performance and financial review form the strateglc report of the Gharity.
Mifal Tzedoko Wchesed Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (conllftued) Year ended 30 June 2024 Achievements and performance Review of activities and achievements The Gharity makes grants towards educatlon, training, the prevention or relief of poverty and enhancement of the Jewish orthodox faith. Fundraising via the receipt of donations continued in the year ensuring objectives set by the charity were achieved. The charity received donation income of £7.241,660 {2023'. £990,731). Reseries The trustees ensure that there are sufficient reserves available to cover foreseeable commitments. In addition, the trustees have received undertakings from local supporters to cover any deficit if such should arise. Governance and internal control The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Risk Management Revlew A reviaw of the potential risks that are faced by the charity has b8en undertaken. Thase are seen lo be in the area of financial control. Appropriate and reasonable systems are in plaGe to cover foreseeable eventualities. Further reviews will be undertaken from time to time. Financial review The charity received income of £7,241,660 in the year which is a substantial increase on the previous Year12023: £990,731). The costs of running the charity in the year came to £7,418,585 {2023.. £982,588). The charity had a deficit in the year of £176,925 (2023-. £8,143 surplus}. The fund balance at the year end is £208,088 (2023: £385,013). Trustees, responsibilities statement The trustees, who are also directors for the purposes 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 r6quires the charity trustee5 to prepare financial statements for each year which give a true and fair view of the state of affairs of ihe Gharitable company and the incorning resources and application of resources, including the income and expenditure, for that period.
Mifal Tzedoko Wchesed Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating th8 Directorfs Report) ( Year ended 30 June 2024 contlnued) In preparing these financial statements, the trustees are required to-. select suitable accounting policies and then apply them consistently; obseNe the methods and principles in tha applicable Charities SORP., make judgmenls and accounting estimates that are reasonable and pwdent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless bt is inappropriate to presume thal the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonablg accuracy at any tima 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 stèps for the prevention and detection of fraud and other irregularities. Audltor Each of the persons who is a trustee at the date of approval of this report confirms that.. so far as ihey are aware, there is no relevant audit information of which the charity's auditor is unaware; and they have taken all steps Ihal they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees, annual report and the strategic report were approved on 27 April 2025 and signed on behalf of the board of trustees by= Mr D Ciment Trustee
Mifal Tzedoko Wchesed Limited Company Limited by Guarantee Independent Auditorfs Report to the Members of Mifal Tzedoko V'chesed Limited Year ended 30 June 2024 Oplnion We have audited the financial statements of Mifal Tzedoko V'chesed Limited (the 'charity'l for the year ended 30 June 2024 which comprise the statement of financial activities linduding income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally ACpted Accounting Practice}. In our opinion the financial statements: give a true and fair view of the state ofthe charity's affairs as at 30 June 2024 and of its incoming resources and application of resources, including its Income and expenditure, for the year then ended., have beèn properly prepared in accordance with Unit8d Kingdom Generally Accepted Accounting Practice; have been prepared in accordance with the requirements of the Companies Act 2006. Basi3 for opinion We conducted our audit in accordance with International Standards on Auditing IUKI (ISAS (UK)} and applicable law. Our responsibilities under those standards are further described in Ihe audito¢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 accordanc8 With these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinlon. Conclusions relating to going concern In auditing the financial statemenls, we have concluded that the truslees, use of the going concern basis of accounting in ihe preparation of the financial statemenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to evenls or conditions Ihat, individually or colleclively, may cast significant doubt on the charity's ability to continue as a going concem for a period of at least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report.
Mifal Tzedoko Wchesed Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Mifal Tzedoko V'chesed Limited (Continued) Year ended 30 June 2024 Other information The other infomation Gomprises 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. Our opinion on the financial statements does not cover the other information and, except to the extent othenmise explicilly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audTt of the financial statements, our responsibility 15 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 audit or othetwise appears to be materially misstaled. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misststement of the other inforrnation. If, based on the work we have performed, we conclude that there is a material rnisstatement 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 the audit: the information given in the trustees. report for the financial year for which the financial statements are prepared is consistent with the financial statements., and the trustees. report has been prepared in accordance with applicable legal requirements. 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 Ihe audit. we have not identified material misstatements in the trustees. report. 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-. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us: or the financial statements are not in agreemenl With the accounting records and relurns; or certain disclosures of trust8es' remuneration specifi8d by law are not made. or W8 have not raceived all the information and explanations we require for our audit.
Mifal Tzedoko V'chesed Limited Company Limited by Guarantee Independent Auditorfs Raport to the Members of Mifal Tzedoko V'chesed Limited (continued) Year ended 30 June 2024 Responslblllties of trustees As explained more fully in the trustees, responsibilities statement, the trustees {who are also the directors for the purposes of Gompany law) are responsible for the preparation of the finanGlal statements and for being satisfied Ihat they give a true and fair view, and for such internal conlrol as the trustees determine is necessary to enable the preparation of financial slatements that are free from material misstatement, whether due to fraud or error. In preparing the financial ststements, 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 charity or to cease operations, or have no realistic altemative 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 ststements as a whole are free from material misstat8ment, 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 nol 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 lo influence the economic decisions of users tsken on the basis of these financial statements. Irregularities, including fraud. are instances of non-compliance with laws and regulations. Vve design procedures in line with our responsibilities, autlined above, to detect material misststements in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud is detalled below.. Identifying and testing journal entries and the overall accounting racords, particularly those that were significant and unusual. Reviewing the financial statement disclosures and determining whether accounting policies have been approprialgly applied. Assessing the extent of compliance, or lack of, with relevanl18ws and regulations. Testing key revenue lines, for evidence of management bias. Verification of key assets. Obtaining thir&party confirmation of material balances. Documenting and verrfying all SIgncant related paty balances and transactions. Reviewing documentation such as the company board minutes, correspondence with solicitors, for discussions of irregularities including fraud.
Mifal Tzedoko V'chesed Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Mifal Tzedoko V'chesed Llmited (continued) Year ended 30 June 2024 As part of an audit in accordance with ISAS (UKI, we exercise professional judgment and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of Ihe financial ststements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detectiny a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of intemal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion Dn the effectiveness of the intemal conlrol. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basi5 of accounting and, based on the audit evidence obtsined. whether a material uncertainty exists related to events or wnditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw att8ntion in our auditor's report to the related disclosur8s in Ihe financial statements or, if such disclosures are inadequate. to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future avents or conditions may cause the charity to cease to continue as a going concem. Evaluate Ihe overall presentation, structure and Gontent of the financial ststements, including the disclosures, and whether the financial statements represent Ihe underlying transactions and events in a manner that achieves fair presentation.
Mifal Tzedoko V'chesed Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Mifal Tzedoko Vchesed Limited (continuod) Year ended 30 June 2024 We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal conlrol that we identify during our audit. Use of our report This report is made solely to the charity'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 charity's members those matters we are required to state to them in an 8uditoVs 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 members as a body, for our audit work, for this report, or for the opinions we have formed. C.H. Goldstein FCA (Senior Statutory Auditor} For and on béhalf of Brindley Goldstein Limited Chartered accountants & statutory auditor 103 High Street Waltham Cross Herts EN8 7AN 27 April 2025
Mifal Tzedoko V'chesed Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 30 June 2024 2024 Unrestricled funds Total funds Total funds 2023 Note Income and endowments Donations and legacies Total Incorne 990,731 990,731 7,241,660 7,241,660 7.241,660 7,241.660 Expenditure Expenditure on charitable activities Total expendlture 7,418,585 7,418,585 982,588 982,588 6.7 7,418,585 7.418,585 Net (expenditurellincome and net movement in funds (176,925) {176,925) 8,143 ReconGillation of funds Totsl funds brought forward Total funds carried for¥vard 376,870 385,013 385,013 208,088 385,013 208,088 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notss on pages 13 to 18 form part of the69 fSnanGial ststsmonts. 10
Mifal Tzedoko Vchesed Limited Company Limited by Guarantee Statement of Financial Position 30 June 2024 2024 2023 Note Current assets Debtors Cash at bank and in hand 12 244,160 7,207 439,286 963 251,367 440,249 Creditor5: amounts falling du• within one year Net Current assets 13 24,801 18,540 226,566 421,709 Total assets less current Ilabilltles Creditors: amounts falling due after more than one year Net assets 226,566 421,709 14 18,478 36,696 208,088 385,013 Funds of the charity Unrestricted funds 208,088 385,Q13 Total charlty funds 15 208,088 385,013 These financial statements were approved by the board of trustees and authorised for issue on 27 April 2025, and are signed on behalf of the board by. Mr D Ciment Trustee The notes on pages 13 to 18 form part of thesp flnanclal Statemants. 11
Mifal Tzedoko V'chesed Limited Company Limited by Guarantee Statemént of Cash Flows Year ended 30 June 2024 2024 2023 Cash flows from operating activities Net {expenditure)lincome Adjustments for.- Interest payable and similar charges Accrued expens8s other operating cash flow adjustment Changes in.. Trade and other debtors Cash generated from operations Interest paid Net Gash froml(used in) operating activities (176,925) 8,143 1,546 3.800 376,870 8,841 400 {439,286} {48,927) 195,126 27,442 18,841 } 18,601 (1,546) (50,473) Cash flows from financing activities Proceeds from borrowings Net cash (used inyfrom financing activities 51,436 51,436 (12,3571 (12,3571 Net increase in cash and cash equivalents Cash and cash equivalents at beglnnlng of year Cash and cash equivalents at end of year 6,244 963 963 963 7.207 The notss on pages 13 to 18 form part of these flnanGial statomgnts. 12
Mifal Tzedoko Wchesed Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 30 June 2024 General information The charity is a public benefit entity and a private oompany limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 98 Lewis Gardens. London, N16 5PJ. 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 wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting pollcles Basls of preparation The financial statements have been prepared on the historical cost basis, as modified by the revalL¢alion of certain financial assets and liabilities and investment properties measured at fair value through income or expanditure. The financial ststements are prepared in sterling, which is the functional currency of the entity. Going concern There are no matarial UnrtaIntieS about the charity's ability to continue. Judgements and key sources of estimation uncertainty There are no judgements and estimates. Fund accounting Unrestricted funds are available for use at the discretion of the truslees lo 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 thelr 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. 13
Mifal Tzedoko Wchesed Limited Company Limited by Guarantee Notes to the Financial Statements Icontlnu8d) Year ended 30 June 2024 Accounting pollcies (Gontinuedj 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 benefils associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categorie5 of income-. income from donations or grants is recognised whèn there is evidence of 8ntitlem8nt to tho 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. Donaled facilities and seNices 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 contracled service. This is classified as unrestricted funds unless there is a contractual requirement for rt 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 includas all costs incurrad by a charity in undertaking aclivities that further its charitabl8 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 expenditura includes all expenditure that is noithar ralatad to raising funds for the charity nor part of its expenditure on charitable activiti8s. All costs are alloGaled to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to Ihat activity. Shared oosts are apportioned belween the activities they contribute to on a reasonabl8, justifiable and Gonsistent basis. 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. 14
Mifal Tzedoko V'chesed Limited Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 30 June 2024 Accounting policies (Gontlnuedj Financial instruments (continuedj 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 olher consideration exp8Cted 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 otheise be measured reliably, the investment is subsequently measured at falr value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost18ss impairment. Other financial instrurnents, including derivalives, are initl8lly recognised at fair value, unless payment for an asset Is deferred beyand normal business terms or financed at a rate of interest thal 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 sirnilar debt instrument. Other financial inslruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in 8 designated hedging relationshlp. Financial assets that are measured at cost or amortised cost ar8 reviewed for objective evidence of impairment at the 8nd 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 activilies in which the initial gain was recognised. For all equity instrurnents regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. other financial asset5 are eithar assessed individually or grouped on the basis of similar credit risk Gharacteristics. Any reversals of impairment are recognised immediately, to th8 extent that the reversal does not result in a carying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been rècognised. Limited by guorantee The company is limited by guarantee and has no share capital. Every member of the company undertakes to conlribute to the assets of the company. in the event of a winding up, such an amount as may be required not exceeding £1. Donatlons and logacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donatlons Donations and legacies 7,241,660 7,241,660 990,731 990,731 15
Mifal Tzedoko V'chesed Limited Company Limited by Guarantee Notes to the Financial Statements (continuod) Year ended 30 June 2024 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2D23 Charitable donations Support costs 7,400,408 18,177 7,400,408 18,177 7,418.585 958.706 23,882 982,588 958,706 23,882 7,418,585 982,588 Expenditure on charitable activities by activity typo Activities undertaken Grant funding directly of activities Support Total funds costs 2024 Total fvnd 2023 Charitable donations Governance costs 9,547 7,390,861 13,517 4,660 7,413,925 4,660 978,388 4,200 9,547 7,390,861 18,177 7.418,585 982,588 Analysis of support costs Analysis of support costs activity Total 2024 Total 2023 Premises General office Governance costs 10.500 3,017 4,660 10,500 3,017 4,660 10,500 9,182 4,200 18,177 18,177 23,882 Analysis of grants 2024 2023 Grants to institutions Grants to institutions 6,973,669 587,386 Grants to Individuals Granls to individuals 417,192 369,341 Total grants 7,390,861 956,727 10. Auditors romunoration 2024 2023 Fees payable for the audit of the financial statements 4.660 16
Mifal Tzedoko V'chesed Limited Company Limited by Guarantee Notes to the Financlal Statements {continued) Year ended 30 June 2024 11. Trustee remuneration and expenses None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year. 12. Debtors 2024 2023 244.160 439,286 oth8r debtors 13. Creditors: amounts falling due wlthin one year 2024 2023 Bank loans and overdrafts Accruals and deferred income 20,601 4,200 14,740 3,800 24,801 18,540 14. Creditors: amounts falling due after more than one year 2024 2023 36,696 Bank loans and overdrafts 18,478 15. Analysis of charitable funds UnrestriGted funds At 30 June 202 At 1 July 2023 Income Expenditure 7,241,660 17,418,585) 208,088 General funds 385,013 At 1 July 2022 At Income Expenditure 30 June 2023 990,731 1982,588) 385,013 General funds 376,870 17
Mifal Tzedoko V'chesed Limited Company Limited by Guarantee Notes to the Financial Statements {eontlnuedJ Year ended 30 June 2024 16. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Current assets Creditors less than 1 year Creditors gr8at8r than 1 year Net assets 251.367 {4,200) (39,079) 208,088 251,367 14,2001 (39,079) 208,088 Unrestricted Total Funds Funds 2023 Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 440,249 118,540) 136,696) 385,013 440.249 {18.540} (36,696) 385.013 17. Analysis of changes in net debt At At l Jul 2023 Cash flows 30 Jun 2024 Cash al bank and in hand Debt due within one year Debt due after one year 963 (14,740) (36,696) (50,473} 6,244 15,8611 18,218 7,207 {20,6011 {18.478) {31.872) 18,601 18