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2023-04-05-accounts

Page
Reference and Administrative
Details ofthe Charity, its Trustees and Advisers
Trustees' Report 2-5
Statement ofTrustees'
Responsibilities
Independent
Auditor's
Report on the Financial Statements		 7-10
Consolidated
Statement of Financial Activities
Consolidated
Balance Sheet		 12
Charity Balance Sheet 13
Consolidated
Statement ofCash Flows		 14
Notes to the Financial Statements 15-32

Trustees Anthony
Coren
Graham
Weinberg
Stephen Stanton
Charity registered
number 1160879
Principal office and Room 303
registered address Winston
House
2 Dollis Park
London
N3 1HF
Independent Auditor MHA
Chartered
Accountants
2 London Wall Place
London,
United		 Kingdom
EC2Y 5AU
Investment advisers Canaccord
Genuity Wealth		 Limited
41 Lothbury
London,
United		 Kingdom
EC2R 7AE
Investment advisers Cazenove
Capital
1 London Wall Place
London,
United		 Kingdom
EC2Y 5AU

Unrestricted Endowment Total Total
funds funds funds funds
2023 2023 2023 2022
Note E
Income and endowments from:
Donations 3 59,536,182 59,536,182 2,900,000
Investments 4 848,661 848,661 75,553
Total income and endowments 60,384,843 60,384,843 2,975,553
Expenditure
on:
Raising funds 6 306,755 306,755 37,944
Charitable
activities		 7,8 1,249,756 1,249,756 145,064
Total expenditure 1,556,511 1,556,511 183,008
Net income before net (losses)/gains
on investments 58,828,332 58,828,332 2,792,545
Net (losses)/gains on investments (1,481,303) (1,481,303) 144,251
Net income before taxation 57,347,029 57,347,029 2,936,796
Taxation 11 1,461,953 1,461,953
Net income after taxation 58,808,982 58,808,982 2,936,796
NCI acquisition 17 1,196,901 1,196,901
Net movement
in		 funds before other
recognised
gains/(losses)		 60,005,883 60,005,883 2,936,796
Other recognised losses:
Deficit on revaluation offixed assets (730,988) (730,988)
Net movement
in		 funds 59,274,895 59,274,895 2,936,796
Reconciliation of funds:
Total funds brought forward 3,176,705 1,843,021 5,019,726 2,082,930
Net movement
in funds		 59,274,895 59,274,895 2,936,796
Total funds carried forward 62,451,600 1,843,021 64,294,621 5,019,726

2023 2023 2022 2022
Note E
Fixed assets
Investments 13 41,242,304 2,008,032
Investment
properties		 12 3,559,420
44,801,724 2,008,032
Current assets
Debtors: Amounts falling due within one year 14 41,278
Cash at bank and in hand 21,232,683 3,033,467
21,273,961 3,033,467
Creditors: Amounts falling due within one
year 15 (239,198) (21,773)
Net current assets 21,034,763 3,011,694
Deferred taxation (1,541,866)
Total net assets 64,294,621 5,019,726
Charity funds
Endowment
funds		 17 1,843,021 1,843,021
Unrestricted
funds		 17 62,451,600 3,176,705
Total funds 64,294,621 5,019,726

2023 2022
Note E
Cash flows from operating activities
Net cash used
in operating		 activities 20 63,087,526 1,916,101
Cash flows from investing activities
Dividends
and interest from		 investments 848,661 75,553
Proceeds from the sale of investment
property		 4,664,554
Proceeds from sale ofinvestments 6,243,550 201,536
Purchase ofinvestments (7,638,055) (77,570)
Gift oflisted investments
from Gershon Coren Charitable		 Foundation 13 (15,176,806)
Gift offreehold
investment
property
from		 Gershon Coren Charitable
Foundation 12 (60,000)
Transfer of listed investments with consolidation ofRenco Properties
Limited (25,560,202)
Transfer of investment
property
with consolidation		 ofRenco Properties
Limited (8,210,012)
Net cash (used in)/provided by investing activities (44,888,310) 199,519
Change
in cash and cash equivalents		 in the year 18,199,216 2,115„620
Cash and cash equivalents
at the beginning		 ofthe year 3,033,467 917,847
Cash and cash equivalents at the end of the year 21 21,232,683 3,033,467

Unrestricted Total Total
funds funds funds
2023 2023 2022
F
59,536,182 59,536,182 2,900,000

Unrestricted Total Total
funds funds funds
2023 2023 2022
f.
Rent 282,086 282,086
Dividends 560,894 560,894 75,550
Bank interest 5,681 5,681 3
848,661 848,661 75,553

2023 2022
E
Investment management fees 189,503 37,944
Subsidiary trading and administration expenditure 117,252
306,755 37,944

Grant
funding of Governance Total
activities costs funds
2023f 2023
E		 2023
K
1,221,000 28,756 1,249,756
Grant
funding
ot		 Governance Total
activities costs funds
2022 2022 2022
135,000 10,064 145,064

Grants paid to Institu tions
2023f 2022
Better World Charity 5,000
Tony Coren Gategi Project 200,000 100,000
Jewish Trails 20,000
Charitable
gifts via Smart Giving		 175,000 5,000
UK Toremet Limited 85,000 30,000
Jami UK 10,000
UK Gives Ltd 55,000
JNF UK 455,000
Inspired 5,000
Centre for Jewish Life 5,000
Manna
UK		 50,000
Jewish Childs Day 10,000
Together Plan 10,000
Foundation
for Jewish		 Heritage 10,000
Shomrim
London		 10,000
Harif 5,000
Israel Film Festival 5,000
Renaissance
Publicity		 5,000
Hatzola 26,000
Jewish Medical Association 5„000
Jewish Futures Trust 15,000
Institute for Jewish Policy 5,000
Middle East Education London 5,000
Smile Train 10,000
UKLFI Charitable
Foundation		 10,000
International
Christian		 Embassy 5,000
Campaign
Against Anti-Semitism		 10,000
UK Jewish
Film		 10,000
1,221,000 135,000

8. Governance costs
2023 2022
E
Accountancy services 7,767 2,440
Audit services 20,808 7,500
Bank charges 181 124
28,756 10,064
9. Staff costs
2023 2022
Wages and salaries 21,256
Social security costs 3,484
24,740
2023 2022
No. No.

2023 2022
E
Corporation tax
Current tax on net income for the year 110,883
Adjustments in respect of previous periods (11,558)
Total current tax 99,325
Deferred tax
On disposal of investment property (1,561,278)
Total deferred tax (1,561,278)
Taxation on net income (1,461,953)

Freehold
investment
properties
F
Valuation
Additions 8,270,012
Disposals (3,979,604)
Loss on revaluation (730,988)
At 5April 2023 3,559,420
Charity
Freehold
investment
property
Valuation
Additions 60,000
At 5April 2023 60,000

Listed
investments
Group
Valuation
At 6April 2022 2,008,032
Additions 48,375,063
Disposals (6,951,519)
Revaluations (2,189,272)
At 5April 2023 41,242,304
Investments
in
subsidiary Listed
companies investments Total
Charity E E
Valuation
At 6April 2022 2,008,032 2,008,032
Additions 35,183,195 19,125,334 54,308,529
Disposals (3,877,223) (3,877,223)
Revaluations (320,729) (320,729)
At 5 April 2023 35,183,195 16,935,414 52,118,609

Name Company Registered office or principal Registered office or principal Holding
number place ofbusiness
Renco Properties Limited 00526647 6th Floor, 2 London Wall Place, 99.94%
London,
United
Kingdom,		 EC2Y
5AU

Group Group
2023 2022
E
Trade debtors 3,844
Other debtors 37,434
41,278

Group Group Charity Charity
2023 2022 2023 2022
E E E
Trade creditors 9,506 21,773 9,380 21,773
Corporation tax 134,459
Other taxation and social security 9,727
Other creditors 14,407
Accruals 71,099
239,198 21,773 9,380 21,773

Group
2023
At 6April 2022
Charge for the year 1,541,866
1,541,866
The deferred tax liability is made up as follows: tax liability is made up as follows:
Group Group
2023 2022
E
Revaluation of investment properties (663,357)
Revaluation of listed investments (878,509)
(1,541,866)

Balance at 6 Gains/ Balance at 5
April 2022 Income Expenditure Investments (Losses) April 2023
E E f.
Unrestricted
funds
General
Fund		 3,176,705 59,753,977 4,056,764 (360,967) 66,626,479
Subsidiary
companies-
Charity Interest 630,487 (4,148,831) 1,175,073 (1,850,213) (4,193,484)
Subsidiary
companies-
Non-controlling
interest 379 (2,491) 21,828 (1,111) 18,605
3,176,705 60,384,843 (94,558) 1,196,901 (2,212,291) 62,451,600
Endowment
funds
Expendable
endowment fund 1,843,021 1,843,021
Total offunds 5,019,726 60,384,843 (94,558) 1,196,901 (2,212,291) 64,294,621

17. Statement offunds (continued)
Statement offunds - prior year
Balance at Transfers Gains/ Balance at
1April 2021 Income Expenditure inlout (Losses) 5April 2022
E
Unrestricted
funds
General
Fund		 239,909 2,975,553 (183,008) '/44, 251 3,176,705
Subsidiary
companies-
Charity Interest
Subsidiary
companies-
Non-controlling
interest
239,909 2,975,553 (183,008) 144,251 3,176,705
Endowment
funds
Expendable
endowment fund 1,843,021 1,843,021
Total offunds 2,082,930 2,975,553 (183,008) 144,251 5,019,726

Analysis ofnet assets between funds -cur rent year
Unrestricted Endowment Total
funds funds funds
2023 2023 2023
Fixed asset investments 39,399,283 1,843,021 41,242,304
Investment
property		 3,559,420 3,559,420
Current assets 21,273,961 21,273,961
Creditors due within one year (239,198) (239,198)
Deferred taxation (1,541,866) (1,541,866)
Total 62,451,600 1,843,021 64,294,621

Unrestricted Endowment Total
funds funds funds
2022 2022 2022
Fixed asset investments 165,011 1,843,021 2,008,032
Current assets 3,033,467 3,033,467
Creditors due within one year (21,773) (21,773)
Total 3,176,705 1,843,021 5,019,726

Group Group
2023
E		 2022f
Net income for the year (as per Statement of Financial Activities) 58,808,982 2,936,796
Adjustments
for:
Losses / (gains) on investments 2,212,291 (144,251)
Dividends and interest from investments 4 (848,661) (75,553)
(Increase)
in debtors		 14 (41,278)
Increase /(decrease) in creditors 15 82,966 (800,891)
Value of NCI loss in period to 100%control 1,196,901
Increase in deferred tax 1,541,866
Increase in corporation tax 134„459
Net cash provided by operating activities 63,087,526 1,916,101
21. Analysis ofcash and cash equivalents
Group Group
2023
E		 2022f
Cash in hand 21,232,683 3,033,467
Total cash and cash equivalents 21,232,683 3,033,467
22. Analysis ofchanges in net debt
Acquisition
and
At 6April disposal of At 5April
2022 Cash flows subsidiaries 2023
f,
Cash at bank and in hand 3,033,467 6,788,809 11,410,407 21,232,683
3,033,467 6,788,809 11,410,407 21,232,683