REGISTERED COMPANY NUMBER: 06840703 (England and Wales) REGISTERED CHARITY NUMBER: 1128867
MOISHE AND ESTHER ITZINGER FOUNDATION LIMITED (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE PERIOD 1 OCTOBER 2019 TO 31 DECEMBER 2020
Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS
MOISHE AND ESTHER ITZINGER FOUNDATION LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 1 OCTOBER 2019 TO 31 DECEMBER 2020
|||Page|Page|
|---|---|---|---|
|Reference and Administrative Details||1||
|Report of the Trustees|2|to|3|
|Report of the Independent Auditors|4|to|5|
|Statement of Financial Activitles||6||
|Balance Sheet||7||
|NotestotheFinancialStatements|8|to|14|
MOISHE AND ESTHER ITZINGER FOUNDATION LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE PERIOD 1 OCTOBER 2019 TO 31 DECEMBER 2020
TRUSTEES Mr S M ltzinger Mrs E lItzinger Mr S J Goldberg
COMPANY SECRETARY Mr S M Itzinger REGISTERED OFFICE 43 Bridge Lane London NW11 OED REGISTERED COMPANY 06840703 (England and Wales) NUMBER REGISTERED CHARITY 1128867 NUMBER AUDITORS Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS BANKERS Lloyds Bank plc 25 Gresham Street London EC2V 7HN
Page 1
## MOISHE AND ESTHER ITZINGER FOUNDATION LIMITED (REGISTERED NUMBER: 06840703)
## REPORT OF THE TRUSTEES FOR THE PERIOD 1 OCTOBER 2019 TO 31 DECEMBER 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charlty for the perlod 1 October 2019 to 31 December 2020. The trustees have adopted the provisions of 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).
## Reference and administrative information
Reference and administrative information is shown on page 1 of the financial statements and forms part of this report.
## OBJECTIVES AND ACTIVITIES
## Objectives and aims for public benefit
The objects of the charity are:-
- The advancement of the orthodox Jewish faith.
- The advancement of orthodox Jewish religious education.
- The relief of poverty, sickness, and infirmity amongst members of the Jewish faith.
- The advancement of such other objects as are for the benefit of the public and are charitable according to English Law.
## The trustees have considered the Charity Commission's general guidance on public benefit.
## Grantmaking policy
In general the trustees select the institutions to be supported according to their personal knowledge of work of the institution. However, they are always prepared to accept any application which will be carefully considered and help given according to circumstances and funds then available. Applications by individuals must be accompanied by a letter of recommendation by the applicant's minister or other known religious leader.
## ACHIEVEMENT AND PERFORMANCE
## Review of activities and achievements
The accounting period was extended by three months to December as the trustees were of the opinion that the charity should be aligned with other related companies. The charity derives its income from property investment. During the period the charity continued its philanthropic activities and has maintained its support of organisations engaging in education, advancement of religion, and the relief of poverty. Individuals were also aided. The trustees are pleased with the results for the period. There was a surplus of £92,139 for the period.
## FINANCIAL REVIEW
## Financial position
The Statement of Financial Activities shows a net surplus of £92,139 (2019: £60,384) and total reserves of £2,762,584 (2019: £2,670,445).
## Investment policy
Under the memorandum and articles of association, the charity has the power to make any investment, which the trustees see fit. The trustees regularly review the charity's position and needs in respect of the investment policy.
## Reserves policy
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the period end were £2,762,584 (2019 - £2,670,445 year).
## FUTURE PLANS
The trustees anticipate that the charity will continue on a similar basis in the foreseeable future subject to satisfactory income and there are no plans for any major changes.
Page 2
## MOISHE AND ESTHER ITZINGER FOUNDATION LIMITED (REGISTERED NUMBER: 06840703)
## REPORT OF THE TRUSTEES FOR THE PERIOD 1 OCTOBER 2019 TO 31 DECEMBER 2020
## STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charlty Is constituted as a limited company and Is governed by Its Memorandum and Articles of Association dated 9 March 2009 as amended by special resolution dated 2 May 2017.
## Organisational structure
The power to appoint new trustees is vested in the current board. It is not the intention of the trustees to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.
Risk review
The trustees have reviewed the risks to which the charity is exposed and confirm that they have established systems to mitigate them.
## STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The trustees (who are also the directors of Moishe And Esther Itzinger Foundation Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial staternents in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland”
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- - make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## AUDITORS
The auditors, Sugarwhite Meyer Accountants Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 28 October 2021 and signed on its behalf by:
## Mr S M ltzinger - Trustee
Page 3
## REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF MOISHE AND ESTHER ITZINGER FOUNDATION LIMITED
## Opinion
We have audited the financial statements of Moishe And Esther ltzinger Foundation Limited (the ‘charitable company’) for the period ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, 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 Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’.
## In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 December 2020 and of its incoming resources and application of resources, including its income and expenditure, for the period then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’; and
- - have been prepared in accordance with the requirements of the Companies Act 2006.
## Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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
We have nothing to report in respect of the following matters in relation to which the ISAs (UK} require us to report to you where:
- the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
## Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. 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 misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Page 4
## REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF MOISHE AND ESTHER ITZINGER FOUNDATION LIMITED
## Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
- We have nothing to report in respect of the following matters where 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 agreement with the accounting records and retums; or
- - certain disclosures of trustees’ remuneration specified by law are not made: or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
## Responsibilities of trustees
As explained more fully in the Statement of Trustees’ Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## Our responsibilities for the audit of the financlal statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors 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.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www. frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
## Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Emanuel Meyer FCA BSc (Senior Statutory Auditor)
for and on behalf of Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS
28 October 2021
Page 5
## MOISHE AND ESTHER ITZINGER FOUNDATION LIMITED
## STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD 1 OCTOBER 2019 TO 31 DECEMBER 2020
PERIOD
|||PERIOD||
|---|---|---|---|
|||1.10.19||
|||TO|YEAR
ENDED|
|||31.12.20|30.9.19|
|||Unrestricted|Total|
|||funds|funds|
||Notes|£|£|
|INCOME AND ENDOWMENTS FROM||||
|Investment income|2|342,694|270,294|
|EXPENDITURE ON||||
|Raising funds|3|140,494|135,119|
|Charitable activities|4|||
|Charitable activities||110,061|74,791|
|Total||250,555|209,910|
|NET INCOME||92,139|60,384|
|RECONCILIATION OF FUNDS||||
|Total funds brought forward||2,670,445|2,610,061|
|TOTALFUNDSCARRIEDFORWARD||2,762,584|2,670,445|
The notes form part of these financial statements
Page 6
## MOISHE AND ESTHER ITZINGER FOUNDATION LIMITED (REGISTERED NUMBER: 06840703)
## BALANCE SHEET 31 DECEMBER 2020
|||2020|2019|
|---|---|---|---|
|||Total|Total|
|||funds|funds|
||Notes|£|£|
|FIXED ASSETS||||
|Investment property|10|5,349,246|5,102,896|
|CURRENT ASSETS||||
|Debtors|11|15,896|4,904|
|Cash at bank||87,536|248,749|
|||103,432|253,653|
|CREDITORS||||
|Amounts falling due within one year|12|(777,677)|(763,393)|
|NETCURRENTASSETS||(674,245)|(509,740)|
|TOTAL ASSETS LESS CURRENT||||
|LIABILITIES||4,675,001|4,593,156|
|CREDITORS||||
|Amounts falling due after more than one year|13|(1,912,417)|(1,922,711)|
|NETASSETS||2,762,584|2,670,445|
|FUNDS|16|||
|Unrestricted funds:||||
|General fund||1,812,584|1,720,445|
|Fair value reserve||950,000|950,000|
|||2,762,584|2,670,445|
|TOTALFUNDS||2,762,584|2,670,445|
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 28 October 2021 and were signed on its behalf by:
Mr S M ltzinger - Trustee
The notes form part of these financial statements
Page 7
MOISHE AND ESTHER ITZINGER FOUNDATION LIMITED
1.
## NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 1 OCTOBER 2019 TO 31 DECEMBER 2020
## ACCOUNTING POLICIES
## Basis of preparing the flnanclal statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## Critical accounting 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.
## Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Grants made are only recognised in the accounts when paid.
## Governance costs
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
## Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, 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 the Statement of Financial Activities.
## Taxation
The charity is exempt from corporation tax on its charitable activities.
## Going concern
There are no material uncertainties about the charity's ability to continue.
Page 8
## MOISHE AND ESTHER ITZINGER FOUNDATION LIMITED
## NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 OCTOBER 2019 TO 31 DECEMBER 2020
## 2. INVESTMENT INCOME
|2.|INVESTMENT INCOME||||
|---|---|---|---|---|
||||PERIOD||
||||1.10.19||
||||TO|YEAR ENDED|
||||31.12.20|30.9.19|
||||Unrestricted|Total|
||||funds|funds|
||||£|£|
||Rents received||342,694|270,294|
|3.|RAISING FUNDS||||
||Investment management costs||||
||||PERIOD||
||||1.10.19||
||||TO|YEAR ENDED|
||||31.12.20|30.9.19|
||||Unrestricted|Total|
||||funds|funds|
||||£|£|
||Management and letting fees||21,423|18,691|
||Rent and rates||602|5,554|
||Repairs and maintenance||22,399|13,962|
||Light and heat||2,637|3,334|
||Insurance||4,281|5,123|
||Legal and professional fees||7,856|7,416|
||Travelling expenses||-|252|
||Interest payable and similar charges||81,296|80,787|
||||140,494|135,119|
|4.|CHARITABLE ACTIVITIES COSTS||||
|||Grant|||
|||funding of|||
|||activities|Support||
|||{see note|costs (see||
|||5}|note 6)|Totals|
|||£|£|£|
||Charitable activities|105,730|4,331|110,061|
|5.|GRANTS PAYABLE||||
||||PERIOD||
||||1.10.19||
||||TO|YEAR ENDED|
||||31.12.20|30.9.19|
||||£|£|
||Charitableactivities||105,730|71,850|
## 4.
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MOISHE AND ESTHER ITZINGER FOUNDATION LIMITED
## NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 OCTOBER 2019 TO 31 DECEMBER 2020
## 5. GRANTS PAYABLE- continued
The total grants paid to institutions during the period was as follows:
||PERIOD||
|---|---|---|
||1.10.19||
||TO|YEAR ENDED|
||31.12.20|30.9.19|
||£|£|
|Religious education|38,380|5,750|
|Relief of poverty|41,250|33,350|
|Advancement of religion|19,100|11,500|
|General purpose|-|16,250|
|Medical|4,000|-|
||102,730|66,850|
|Recipients of institutional grants:|||
||£||
|Chesed Charity Trust|18,000||
|Gitter Foundation|10,000||
|Tchabe Kollel|9,500||
|Peninim|8,000||
|Aniyei Haclom|5,000||
|Kolel Torah Veyirah|5,000||
|Meir Hatorah|5,000||
|Grants below £5,000|42,230||
||102,730||
The total grants paid to individuals during the period was as follows:
||PERIOD||
|---|---|---|
||1.10.19||
||TO|YEAR ENDED|
||31.12.20|30.9.19|
||£|£|
|Relief of poverty|3,000|-|
|Advancement of religion|-|5,000|
||3,000|5,000|
Page 10
MOISHE AND ESTHER ITZINGER FOUNDATION LIMITED
6. SUPPORT COSTS
## NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 OCTOBER 2019 TO 31 DECEMBER 2020
|SUPPORT COSTS||||
|---|---|---|---|
|||Governance||
||Finance|costs|Totals|
||£|£|£|
|Charitable activities|237|4,094|4,331|
|Support costs, included in the above, are as follows:||||
|||PERIOD||
|||1.10.19||
|||TO|YEAR ENDED|
|||31.12.20|30.9.19|
|||Charitable|Total|
|||activities|activities|
|||£|£|
|Bank charges||237|397|
|Auditors’ remuneration||1,440|-|
|Auditors’ remuneration for non audit||||
|work||1,940|-|
|Independent examiner's fee||-|360|
|Independent examiner's otherfees||-|1,860|
|General expenses||294|144|
|Legal fees||420|180|
|||4331|2,941|
|NET INCOME/(EXPENDITURE)||||
|Net income/(expenditure) is stated after charging/(crediting):||||
|||PERIOD||
|||1.10.19||
|||TO|YEAR ENDED|
|||31.12.20|30.9.19|
|||£|£|
|Auditors’ remuneration||1,440|-|
|Auditors’remunerationfornonauditwork||1,940|-|
7. NET INCOME/(EXPENDITURE)
8.
## TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the period ended 31 December 2020 nor for the year ended 30 September 2019.
## Trustees’ expenses
There were no trustees’ expenses paid for the period ended 31 December 2020 nor for the year ended 30 September 2019.
Page 11
MOISHE AND ESTHER ITZINGER FOUNDATION LIMITED
9. AVERAGE STAFF NUMBERS
11.
12.
## NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 OCTOBER 2019 TO 31 DECEMBER 2020
The average number of staff In the year was Nil (2019 - NIl).
## 10.
|INVESTMENT PROPERTY||
|---|---|
||£|
|FAIRVALUE||
|At 1 October 2019|5,102,896|
|Additions|246,350|
|At 31 December 2020|5,349,246|
|NET BOOK VALUE||
|At 31 December2020|5,349,246|
|At30September2019|5,102,896|
The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the trustees who have the experience and expertise required to undertake such an exercise. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties in the same location.
## DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|||
|---|---|---|
||2020|2019|
||£|£|
|Trade debtors|15,896|4,904|
|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|||
||2020|2019|
||£|£|
|Bank loans and overdrafts (see note 14)|48,000|38,534|
|Other creditors|725,877|718,264|
|Accruals and deferred income|3,800|6,595|
||777,677|763,393|
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13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
## MOISHE AND ESTHER ITZINGER FOUNDATION
## LIMITED
## NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 OCTOBER 2019 TO 31 DECEMBER 2020
**----- Start of picture text -----**
||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|2020|2019|
|£|£|
|Bank|loans|(see|note|14)|1,912,417|1,922,711|
|14.|LOANS|
|An|analysis|of the|maturity|of|loans|is|given|below:|
|2020|2019|
|£|£|
|Amounts|falling|due|within|one|year|on|demand:|
|Bank|loans|48,000|38,534|
|Amounts|falling|due|between|two|and|five|years:|
|Bank|loans|-|2-5|years|1,525,457|1,524,539|
|Amounts|falling|due|in|more|than|five|years:|
|Repayable|by|instalments:|
|Bank|loans|more|5|yr|by|installments|386,960|398,172|
|15.|SECURED|DEBTS|
|The|following|secured|debts|are|included|within|creditors:|
|2020|2019|
|£|£|
|Bank|loans|1,960,417|1,961,245|
|The|bank|loans|are|secured|by|legal|charges|over|certain|of the|charitable|company's|investment|properties.|
|16.|MOVEMENT|IN|FUNDS|
|Net|
|At|movement|At|
|1.10.19|in|funds|31.12.20|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,720,445|92,139|1,812,584|
|Fair|value|reserve|950,000|-|950,000|
|2,670,445|92,139|2,762,584|
|TOTAL FUNDS|2,670,445|92,139|2,762,584|
**----- End of picture text -----**
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MOISHE AND ESTHER ITZINGER FOUNDATION LIMITED
17. RELATED PARTY DISCLOSURES
## NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 1 OCTOBER 2019 TO 31 DECEMBER 2020
## 16. MOVEMENT IN FUNDS- continued
Net movement in funds, Included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|infunds|
||£|£|£|
|Unrestricted funds||||
|General fund|342,694|(250,555)|92,139|
|TOTAL FUNDS|342,694|(250,555)|92,139|
|Comparatives for movement in funds||||
|||Net||
||At|movement|At|
||1.10.18|in funds|30.9.19|
||£|£|£|
|Unrestricted funds||||
|General fund|1,660,061|60,384|1,720,445|
|Fair value reserve|950,000|-|950,000|
||2,610,061|60,384|2,670,445|
|TOTAL FUNDS|2,610,064|60,384|2,670,445|
|Comparative net movement in funds, included in the above are as follows:||||
||Incoming|Resources|Movement|
||resources|expended|in funds|
||£|£|£|
|Unrestricted funds||||
|General fund|270,294|(209,910)|60,384|
|TOTALFUNDS|270,294|(209,910)|60,384|
Included in other creditors (note 12) are amounts totalling £703,779 (2019: £697,834) due to related companies under common control.
Page 14
This document was delivered using electronic communications and authenticated in accordance with the registrar's rules relating to electronic form, authentication and manner of delivery under section 1072 of the Companies Act 2006.