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|||**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**|
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|||**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|
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|||**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||
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|||**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|
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|**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|
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|**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**|
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|**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|
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|**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|
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|**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|
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|**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|
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|**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|
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|**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||
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|**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)|
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|||**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|
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