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2022-10-31-accounts
|
|
Page |
Page |
| Reference and Administrative Details |
|
1 |
|
| Report of the Trustees |
2 |
to |
3 |
| Report of the Independent Auditors |
4 |
to |
6 |
| Statement of Financial Activities |
|
7 |
|
| Balance Sheet |
|
8 |
|
| Cash Flow Statement |
|
9 |
|
| Notes to the Cash Flow Statement |
|
10 |
|
| Notes to the Financial Statements |
11 |
to |
17 |
|
|
2022 |
2021 |
|
|
Unrestricted |
Total |
|
|
funds |
funds |
|
Notes |
|
|
| INCOME AND ENDOWMENTS FROM |
|
|
|
| Donations and legacies |
2 |
1,185,165 |
1,748,477 |
| Investment income |
3 |
11 |
11 |
| Total |
|
1,185,176 |
1,748,488 |
| EXPENDITURE ON |
|
|
|
| Raising funds |
4 |
10,569 |
4,209 |
| Charitable activities |
5 |
|
|
| Grantmaking |
|
1,204,589 |
1,258,751 |
| Support |
|
43,515 |
30,419 |
| Total |
|
1,258,673 |
1,293,379 |
| Net gains/(losses) on investments |
|
(29,484) |
(60,080) |
| NET INCOME/(EXPENDITURE) |
|
(102,981) |
395,629 |
RECONCILIATION OF FUNDS
Total funds brought forward |
|
124,335 |
(270,694) |
| TOTAL FUNDS CARRIED FORWARD |
|
21,354 |
124,335 |
|
|
2022 |
2021 |
|
|
|
Total |
Total |
|
|
|
funds |
funds |
|
| Notes |
|
|
£ |
|
| FIXED ASSETS |
|
|
|
. |
| Investment property |
11 |
|
1,000,000 |
|
| CURRENT ASSETS |
|
|
|
|
| Debtors |
12 |
3,104,115 |
2,224,046 |
|
| Cash at bank |
|
50,376 |
9,350 |
|
|
|
3,154,491 |
2,233,396 |
|
| CREDITORS |
|
|
|
|
| Amounts falling due within one year |
13 |
(837,527) |
(774,969) |
|
| NET CURRENT ASSETS |
|
2,316,964 |
1,458,427 |
|
| TOTAL ASSETS LESS CURRENT |
|
|
|
|
| LIABILITIES |
|
2,316,964 |
2,458,427 |
|
| CREDITORS |
|
|
|
|
| Amounts falling due after more than one year |
14 |
(2,295,610) |
(2,334,092) |
|
| NET ASSETS |
|
21,354 |
124,335 |
|
| FUNDS |
16 |
|
|
|
| Unrestricted funds: |
|
|
|
|
| General fund |
|
21,354 |
(259,082) |
|
| Fair value reserve |
|
|
383,417 |
|
|
|
21,354 |
124,335 |
|
| TOTAL FUNDS |
|
21,354 |
124,335 |
|
|
|
2022 |
2021 |
|
Notes |
|
|
| Cash flows from operating activities |
|
|
|
| Cash generated from operations |
1 |
(911,283) |
(1,922) |
| Interest paid |
|
(18,318) |
(16,671) |
| Net cash used in operating activities |
|
(929,601) |
(18,593) |
| Cash flows from investing activities |
|
|
|
| Purchase of investment property |
|
(25,848) |
(10,080) |
| Sale of fixed asset investments |
|
(29,484) |
|
| Sale of investment property |
|
1,025,848 |
|
| Interest received |
|
11 |
11 |
| Net cash provided by/(used in) investing |
activities |
970,527 |
(10,069) |
| Change in cash and cash equivalents |
|
|
|
| in the reporting period |
|
40,926 |
(28,662) |
| Cash and cash equivalents at the |
|
|
|
| beginning of the reporting period |
2 |
9,350 |
38,012 |
| Cash and cash equivalents at the end |
|
|
|
| of the reporting period |
2 |
50,276 |
9,350 |
| ACTIVITIES |
|
|
|
|
|
2022 |
2021 |
Net (expenditure)/income for the reporting period (as per the
Statement of Financial Activities) |
|
(102,981) |
395,029 |
| Adjustments for: |
|
|
|
| Losses on investments |
|
29,484 |
60,080 |
| Interest received |
|
(11) |
(11) |
| Interest paid |
|
18,318 |
16,671 |
| Increase in debtors |
|
(880,069) |
(146,362) |
| Increase/(decrease) in creditors |
|
23,976 |
(327,329) |
| Net cash used in operations |
|
(911,283) |
(1,922) |
| ANALYSIS OF CASH AND CASH EQUIVALENTS |
|
|
|
|
|
2022 |
2021 |
| Notice deposits (less than 3 months) |
|
50,376 |
9,350 |
| Overdrafts included in bank loans and overdrafts falling due within one |
|
|
|
| year |
|
(100) |
|
| Total cash and cash equivalents |
|
50,276 |
9,350 |
| ANALYSIS OF CHANGES IN NET FUNDS |
|
|
|
|
At 1.11.21 |
Cash flow |
At 31.10.22 |
| Net cash |
|
|
|
| Cash at bank |
9,350 |
41,026 |
50,376 |
| Bank overdraft |
|
(100) |
(100) |
|
9,350 |
40,926 |
50,276 |
| Total |
9,350 |
40,926 |
50,276 |
| 2. |
DONATIONS AND LEGACIES |
|
|
|
|
2022 |
2021 |
|
|
Unrestricted |
Total |
|
|
funds |
funds |
|
Donations |
1,185,165 |
1,748,477 |
| 3. |
INVESTMENT INCOME |
|
|
|
|
2022 |
2021 |
|
|
Unrestricted |
Total |
|
|
funds |
funds |
|
Deposit account interest |
11 |
11 |
| Raising donations and legacies |
|
|
|
2022 |
2021 |
|
Unrestricted |
Total |
|
funds |
funds |
| Fundraising costs |
487 |
|
| Visit of Grand Rabbi |
1,881 |
265 |
Office expenses
Travelling expenses
Printing, postage and advertising |
2,488
726 |
386
1,025 |
|
5,582 |
1,676 |
| Investment management costs |
|
|
|
2022 |
2021 |
|
Unrestricted |
Total |
|
funds |
funds |
| Insurance |
447 |
2,293 |
| Legal & professional |
|
240 |
| Rates |
4,118 |
|
| Property repairs |
422 |
|
|
4,987 |
2,533 |
| Aggregate amounts |
10,569 |
4,209 |
| 5. |
CHARITABLE ACTIVITIES COSTS |
|
|
|
|
|
Grant |
|
|
|
|
funding of |
|
|
|
|
activities |
Support |
|
|
|
(see note |
costs (see |
|
|
|
6) |
note 7) |
Totals |
|
|
£ |
£ |
£ |
|
Grantmaking |
1,204,589 |
|
1,204,589 |
|
Support |
|
43,515 |
43,515 |
|
|
1,204,589 |
43,515 |
1,248,104 |
| 6. |
GRANTS PAYABLE |
|
|
|
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Grantmaking |
|
1,204,589 |
1,258,751 |
|
The total grants paid to institutions during the year was as follows: |
|
|
|
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Advancement of education |
|
1,051,171 |
1,171,062 |
|
Advancement of religion |
|
24,394 |
79 |
|
|
|
1,075,565 |
1,171,141 |
|
Keser Malchus |
|
563,846 |
|
|
Bechatzros Kodshecho |
|
482,307 |
|
|
Others under £1,000 |
|
29,412 |
|
|
|
|
1,075,565 |
|
|
The total grants paid to individuals during the year was as follows: |
|
|
|
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Relief of poverty |
|
129,024 |
17,812 |
|
Advancement of religion |
|
|
69,798 |
|
|
|
129,024 |
87,610 |
| 7. |
SUPPORT COSTS |
|
|
|
|
|
|
|
|
Governance |
|
|
|
Management |
Finance |
costs |
Totals |
|
|
£ |
£ |
£ |
£ |
|
Support |
15,345 |
19,770 |
8,400 |
43,515 |
|
Support costs, included in the above, are as follows: |
|
|
|
|
|
|
|
|
2022 |
2021 |
|
|
|
|
|
Total |
|
|
|
|
Support |
activities |
|
|
|
|
£ |
£ |
|
Telephone |
|
|
1,416 |
965 |
|
Sundries |
|
|
13,929 |
|
|
Bank charges |
|
|
1,452 |
1,316 |
|
Interest payable and similar charges |
|
|
18,318 |
16,671 |
|
Auditors' remuneration |
|
|
3,480 |
3,480 |
|
Auditors' remuneration for non audit |
|
|
|
|
|
work |
|
|
4,200 |
4,200 |
|
General expenses
Foreign exchange losses |
|
|
720 |
367
3,420 |
|
|
|
|
43,515 |
30,419 |
| 8. |
NET INCOME/(EXPENDITURE) |
|
|
|
|
|
Net income/(expenditure) is stated after charging/(crediting): |
|
|
|
|
|
|
|
|
2022 |
2021 |
|
|
|
|
£ |
£ |
|
Auditors' remuneration |
|
|
3,480 |
3,480 |
|
Auditors' remuneration for non audit work |
|
|
4,200 |
4,200 |
| FAIR VALUE |
|
|
| At 1 November 2021 |
|
1,000,000 |
| Additions |
|
25,848 |
| Disposals |
|
(1,025,848) |
| At 31 October 2022 |
|
|
| NET BOOK VALUE |
|
|
| At 31 October 2022 |
|
|
| At 31 October 2021 |
|
1,000,000 |
| Fair value at 31 October 2022 is represented by: |
|
|
| Valuation in 2020 |
|
1,050,000 |
| Valuation in 2021 |
|
(50,000) |
|
|
1,000,000 |
| DEBTORS |
|
|
|
2022 |
2021 |
| Amounts falling due within one year: |
|
|
| Other debtors |
1,918,640 |
1,038,571 |
| Amounts falling due after more than one year |
|
|
| Other debtors |
1,185,475 |
1,185,475 |
| Aggregate amounts |
3,104,115 |
2,224,046 |
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE Y |
EAR |
|
|
2022 |
2021 |
|
£ |
£ |
| Bank loans and overdrafts (see note 15) |
100 |
− |
| Other creditors |
820,627 |
753,849 |
| Accruals and deferred income |
16,800 |
21,120 |
|
837,527 |
774,969 |
|
|
2022 |
2021 |
|
|
£ |
£ |
|
Other creditors |
2,295,610 |
2,334,092 |
| 15. |
LOANS |
|
|
|
2022 |
2021 |
|
£ |
£ |
Amounts _falling due within one_year_on_demand:
Bank overdrafts |
100 |
|
| MOVEMENT IN FUNDS |
|
|
|
|
|
Net |
|
|
At |
movement |
At |
|
1.11.21 |
in funds |
31.10.22 |
|
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
| _General_fund |
(259,082) |
280,436 |
21,354 |
| Fair value reserve |
383,417 |
(383,417) |
|
|
124,335 |
(102,981) |
21,354 |
| TOTAL FUNDS |
124,335 |
(102,981) |
21,354 |
| Net movement in funds, included |
in the above are as follow |
s: |
|
|
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
in funds |
|
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
| General fund |
1,185,176 |
(1,258,673) |
353,933 |
280,436 |
| Fair value reserve |
|
− |
(383,417) |
(383,417) |
|
1,185,176 |
(1,258,673) |
(29,484) |
(102,981) |
| TOTAL FUNDS |
1,185,176 |
(1,258,673) |
(29,484) |
(102,981) |
|
|
Net |
|
|
At |
movement |
At |
|
1.11.20 |
in funds |
31.10.21 |
|
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
| General fund |
(654,111) |
395,029 |
(259,082) |
| Fair value reserve |
383,417 |
|
383,417 |
|
(270,694) |
395,029 |
124,335 |
| TOTAL FUNDS |
(270,694) |
395,029 |
124,335 |
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
in funds |
|
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
| General fund |
1,748,488 |
(1,293,379) |
(60,080) |
395,029 |
| TOTAL FUNDS |
1,748,488 |
(1,293,379) |
(60,080) |
395,029 |