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2022-12-31-accounts

MERCAZ HATORAH NETZACH YISROEL

Charity No. 1161222

Annual report and financial statements For the year ended 31[st] December 2022

Mercaz Hatorah Netzach Yisroel For the year ended 31st December 2022

Contents
Page
Reference and administrative information 1
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✆✄✝
✞✟✟✂✞✠
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☛✁☎		 2 - 4
Independent auditors' report 5 -7
Statement of financial activities 8
(incorporating an income and expenditure account)
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 11-18

Mercaz Hatorah Netzach Yisroel Reference and administrative information For the year ended 31[st] December 2022

Trustees: D Markovic
M Strom
Mrs. C P Spitzer
J Cope
Charity number: 1161222
Registered office: 81 Leeside Crescent, London, NW11 0JL
Auditors: Goldwins Limited
75 Maygrove Road
West Hampstead
London NW6 2EG
www.goldwins.co.uk

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Mercaz Hatorah Netzach Yisroel �✁✂✄☎✆✆✄✝ ✁✆✡☛✁☎ For the year ended 31st December 2022 The trustees present their report together with the financial statements of the charity for the year ended 31st December 2022. 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). Objectives and activities The principal objectives of the charity are: To advance the orthodox Jewish faith in such ways as the trustees think fit, including by awarding scholarships, maintenance allowances or grants to students to enable them to pursue further studies at an Institute of Advanced Jewish Studies. Public benefit The trustees have considered the Charity Commission's general guidance on public benefit in deciding what activities the charity should undertake. As stated on the 'Objectives and Activities' section, the charity provides education and supports poverty and illness amongst members of the Jewish faith. The trustee consider that the activities explained above, satisfy the public benefit requirement. Achievements and performance During the year, the charity has continued to operate the charitable activities and meet its objectives. �✁✂ ✄✁☎✆✝✞✟✠✡ supporters have rallied around to ensure the charity's ability to continue as a going concern for the next twelve months. The trustees are exceptionally grateful to all of the organisations and individuals for their continued support of the charity. The plans for the coming financial year are very ambitious but the trustees are working hard to ensure that financial supporters are kept informed of the charity's progress and the funds pledged for the year will allow the trustees to carry out their plans. Financial review Financial position The statement of financial activities shows net incoming resources for the year of a revenue nature of £1,157,075 (2021: £976,473) and net realised outgoing resources of £1,135,230 (2021 - £965,913) resulting in a surplus of £21,845 (2021: surplus of £10,560). The total reserves at the year end are £37,186 (2021 - £15,341). Reserves policy

The statement of financial activities shows net incoming resources for the year of a revenue nature of £1,157,075 (2021: £976,473) and net realised outgoing resources of £1,135,230 (2021 - £965,913) resulting in a surplus of £21,845 (2021: surplus of £10,560). The total reserves at the year end are £37,186 (2021 - £15,341).

The reserves policy takes into account the need to deal with short-term volatility of income without having to suddenly cut expenditure.

The trustees would aim to retain funds equivalent to 3-6 months expenditure to take account of any potential short fall in donations in future. The reserves policy and target level are reviewed by the trustees on an annual basis, together with any steps necessary to align the actual level with the target over time.

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Mercaz Hatorah Netzach Yisroel �✁✂✄☎✆✆✄✝ ✁✆✡☛✁☎ For the year ended 31st December 2022 Plans for the future The need for our services is increasing and we plan to continue doing what we can to assist. However, the trustees realise that we must use the resources we have wisely and so we will continue to target those problems where we have expertise to make the most difference. We therefore intend to continue our approach of education and training with further projects to build on the previous ones. Structure, governance and management Governing document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. Statement of responsibilities of the trustees �✁✂ ✞✆� ✡✞✂✂✡ ☎✆✂ ✆✂✡ ✁✂✄✡ ✝☎✆✂ ✝✂ ✆ ✁ ✆✂✁☎✆✝✄✞ ✞✁✂ ✞✆� ✡✞✂✂✡ ✠ ☎ ✄✄�☎ ✆ ✆✂✁✂✆✞ ☎ ✄✟ ✞✁✂ ✝ ✝✄☎ ✄✄ ✝☎ ✆ ✡ ✞☎✞✂✠ ✂ ✄✞✡ in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales 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 charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to: ✡ Select suitable accounting policies and then apply them consistently ✡ Observe the methods and principles in the Charities SORP ✡ Make judgements and estimates that are reasonable and prudent ✡ State whether applicable UK Accounting Standards and statements of recommended practice 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 it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) ☛ ✂✞�✆☎ ✞✝✂✄✡ ☞✌✌✍ ☎ ✄✟ ✞✁✂ ✁ ✆✂ ✎ ✝✡ ✝✂ ✄✡ ✂ ✝ ✞ ✁✂ ✄ ✁☎ ✆✝✞✟ ✠✡ constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. #!

Mercaz Hatorah Netzach Yisroel �✁✂✄☎✆✆✄✝ ✁✆✡☛✁☎ For the year ended 31st December 2022 Statement as to disclosure to our auditors In so far as the trustees are aware: ✡ There is no relevant audit information of which the ✄✁☎✆✝✞✟✠✡ 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 Goldwins Limited were appointed as the auditors of the charity during the year and have expressed their willingness to continue in that capacity. �✁✂ ✞✆ �✡✞ ✂✂✡✠ ☎ ✄✄� ☎ ✆ ✆✂✁✂ ✆✞ ✁☎✡ ☎ ✂✂ ✄ ☎ ✁✁✆✂ ✎✂✟ ☎✟ ✞ ✁✂ ✞✆�✡ ✞✂✂✡ ✂ ✄ 12 February 2024 and signed on their behalf by; ���� ��� ��� �� ��✁ M Strom ✂ Trustee

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INDEPENDENT AUDITORʼS REPORT TO THE TRUSTEES OF MERCAZ HATORAH NETZACH YISROEL

Opinion

We have audited the financial statements of Mercaz Hatorah Netzach Yisroel (the ‘Charity’) for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows 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, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

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 Auditorʼs 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 FRCʼs 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

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

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 auditorʼs report 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 required to determine whether there is a material misstatement in the financial statements or a material

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INDEPENDENT AUDITORʼS REPORT TO THE TRUSTEES OF MERCAZ HATORAH NETZACH YISROEL

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.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report. We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trusteesʼ responsibilities statement, the trustees 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 they 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 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 alternative but to do so.

Our responsibilities for the audit of the financial 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 an auditorʼs report 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

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INDEPENDENT AUDITORʼS REPORT TO THE TRUSTEES OF MERCAZ HATORAH NETZACH YISROEL

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Councilʼs website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditorʼs report.

Use of our report

This report is made solely to the Charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the Charity’s trustees those matters we are required to state to them in an auditor’s 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Goldwins Limited Statutory Auditor and Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG

12 February 2024

�✁✂✄☎✆✝✞ ✟✆✠✆✡☛✄ ✆✞ ☛✂ ✆☞✆ ✌✂ ☛ ✍✁✎ ✏✑ ✑✁✆✝✡✠☛✝ ✡ ✏✞ ✏ ✒✄✆✡✁ ✎ ✁✍ ✡✓ ☛ ✔✓✏✎✆✡✕ ✌ ✕ ✖ ✆ ✎✡✒☛ ✁✍ ✆✡✞ ☛✂ ✆☞ ✆ ✌✆✂ ✆✡✕ ✍✁✎ ✏ ✑✑✁ ✆✝ ✡✠☛✝✡ ✏✞ ✏✒✄✆✡ ✁✎ ✁✍ ✏ ✔✁ ✠✑✏ ✝ ✕ ✒ ✝✄ ☛✎ ✞ ☛✔✡✆✁ ✝ ✗✘✗ ✘ ✁✍ ✡✓☛ ✙✁✠✑✏✝ ✆☛✞ ✚✔✡ ✘✛✛ ✜✢

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Mercaz Hatorah Netzach Ylsroel Statement of financial activities lincorporaiing an income and expenditure account) For the ear ended 31 December 2022 2022 2021 Unrestricted Fund Restricted Fund Total Fund Toial Fund Note Income from.. Donation5 and legacies ,157.075 1,157,075 976,473 Total income 1 157.075 1,157,075 976,473 Expenditure on.. Raising funds Charitable aciiviiie5 35.555 1,099.675 35,555 1,099,675 3,806 962,107 Total expendlture 1,135,230 1,135,230 965,913 Net income l {expenditurel for the year 21.845 21.845 10,560 Transfers between funds Net income I lexpenditurel before other recognised gains and losses 21.845 21,845 10,560 Net movement in funds 21,845 21,845 10,560 Reconciliarion of funds.. Total funds brought forward 15.341 15.341 4,781 Total funds carried forward 37.186 37.186 15,341 All of the above result5 are derived from continuing activiries. There were no other recognised gains or losses other than those siaied above. Movements in fund5 are disclosed In Noie 12 to the financial 5taiement5.

Mercaz Hatorah Netzach Yisroel Balance sheet As at 31 December 2022 2022 2021 Note Current assets.. Debtors Cash at bank and IN hand i 00.000 786 16,041 100,786 16,041 Crediiors.. amounts falling due wiihin one year 63,600 700 Net current a55ets 37,186 15,341 Total assets less current liabilities 37,186 15,341 Total net a55et5 37,186 15.341 The funds of the charity.. Unrestricted income funds". General funds 37,186 15,341 Total unrestricted funds 37.186 15,341 Total charity funds 37,186 15,341 The financial statements were approved by the tru5tee5 on 12 February 2024 and signed on their behalf by M Strom Trustee

Mercaz Hatorah Netzach Yisroel Statement of cash flows For the ear ended 31 December 2022 Noie 2022 2021 Cash flows from operatlng actlvltles Net cash provided by I Iu5ed inl operating activitie5 115,2551 10,560 Cash flows from Investlng actlvltles.. Dividends. interest and rents from investments Net cash provlded by / (used Inl Investlng actlvltles Net cash provided by I (used inl financing activities Change in cash and cash equivalent5 in the year 115.2551 10,560 Cash and cash equivalents at the beginning of the year 16,041 5.481 Cash and cash equivalents at the end of the year 786 16,041

Mercaz Hatorah Netzach Yisroel Notes to the financial statements For the ear ended 31 December 2022 Accounting policies a) Basi5 of preparation The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitie5 preparing their account5 in accordance with the Financial Reporting Standard appliiable in the UK and Republic of Ireland IFRS 1021 (effective I January 20191,. Financial Reporting Standard 102 The Finaniial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 201 l . The financial statements have been prepared under the historical cost convention. bl Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of asset5 and liabilitie5 Wlthin the next reporting period. cl Income Income is recognised when the charity has entitlement to the funds, any performance ionditions attached to the income have been met. it 15 probable that the income will be received and that the amount can be measLJred reliably. dl Donations of gifts, services and facilitie5 Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met. the receipt of economic benefit from the use by the charity of the item 15 probable and that economic benefit can be measured reliably- In accordance with the Charities SORP IFRS 1021, volunteer time is not recognised so refer to the trustees, annual report for more information about their contribution. On receipt, donated gifts, professional services and donated facilities are recognised on rhe basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market,. a corresponding amount is then recognised in expenditure in the period of receipt. el Interest recelvable Inrerest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity,. this is normally upon notif ication of the interest paid or payable by rhe bank. Q Fund accounting Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. Unrestricted f unds are donations and other incoming resources received or generated for the charitable purposes. Designated funds are unrestricted f unds earmarked by the trustees for particular purposes. gl Expenditure and irrecoverable VAT ExpenditLJre is recognised once there is a legal or constructive obligation to make a payment to a third party, it Is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities Wlth a fundraising purpose

Mercaz Hatorah Netzach Yisroel Notes to the financial statements For the ear ended 31 December 2022 Accounting policie5 {continued) Expenditure on charitable activities includes the costs of delivering services, undertaken to further the purposes of the charity and their associated support costs. Other expenditure represents those items not falling into any other heading Grant5 offered 5ubjert to condition5 which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. h) Allocation of support COStS Expenditure is accounted for on an accrua15 basis and ha5 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. i) Operating leases Rental charges are charged on a straight line basis over the term of the lease. i) Tangible fixed assets Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. A55et5 are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected usef ul life. kl Debtor5 Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. l) Cash at bank and In hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Cash balances exclude any f unds held on behalf of service users. ml Creditors and provision5 Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recogni5ed at their settlement amount after allowing for any trade discounts due. n) Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic fi nancial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loan5 which are subsequently measured at amortlsed c05t using the effective interest method. o) Pensions The charity does not operate a stakeholder pension scheme.

Mercaz Hatorah Netzach Yisroel Notes to the financial statements For the ear ended 31 December 2022 2 Detalled comparatlves for the statement of flnanclal actlvltles 2021 Total Unrestricted Restricted Income from.. Donations and legacies Charitable activities Investment5 976,473 976,473 Total income 976.473 976,473 Expenditure on.. Raising funds Charitable activiries -student Grants 3,806 3,806 962,107 962,107 Total expenditure 965,913 965,913 Net income / expenditure before gains I Ilossesl on Net gains 11105sesl on investments 10,560 10,560 Net income ] expenditure Transfers between funds 10,560 10,560 Net movement in funds Total funds brought forward 10,560 4,781 10,560 4,781 Total funds carried forward 15.341 15,341

Mercaz Hatorah Netzach Yisroel Notes to the financial statements For the ear ended 31 December 2022 3 Income from donations and legacies 2022 Total 2021 Total Unrestricted Restricted Donations 1,157,075 1.157,075 976,473 1,157,075 1.157,075 976,473

Mercaz Hatorah Netzach Yisroel Note5 to the financial statements For the year ended 31 December 2022 4 Analy515 of expenditure Cost of raising Charitable funds activities Support costs 2022 Total 2021 Total Fundraising events 35.555 35,555 3,806 Postage and stationery Advertising Study books and reference materials Travel costs Student grants Accoutancy Bank charges Audit fees 2,100 2,533 3,009 1,047 1,084,798 2,100 2,533 3,009 1,047 1.084,798 700 88 5,400 1,195 2,942 2,754 666 953,845 700 700 88 5,400 35,555 1,093,487 6,188 6,188 1,135,230 16,1881 965,913 Support Costs Total expenditure 2022 35.555 1.099,675 1,135.230 Total expenditure 2021 3.806 962,107 965,913 The total expenditure £1 .13 5,230 was unrestricted12021 .. £965.9131. Analy515 of expenditure (prior year) Cost of raising Charitable funds activities Support costs 2021 Total Fund raising events Direct cost Postage and stationery Advertising Study books and reference materials Travel costs Student granrs Support costs Accoutancy Bank charges 3.806 3,806 1,195 2,942 2,754 666 953,845 1,195 2,942 2,754 666 953,845 700 700 3,806 961 ,402 705 705 965,913 Support costs 17051 Total expenditure 2021 3,806 962,107 965.913

Mercaz Hatorah Netzach Yisroel Notes to the financial statements For the year ended 31 December 2022 Net incomlng resources for the year This is stated after charging I crediting.. 2022 2021 Auditors, remuneration (excluding VAT).. Audit 4,500 Analysis of staff c05tS, trustee remuneration and expenses. and the cost of key management personnel The charity did not employ staff during the year12021 '. Nill. The charity trustees were not paid or received any other benefits from employment with the chariry in the year12021 '. £nill. No trustees received payment for professional or other services supplied to the charity12021 '. £nill. Trustees. reimbursement of travel and subsistence costs is £Nil Related party transactions There are no related party transactions to disclose for 2022 12021-. none). Taxation The charity is exempt from tax on its charitable activitie5. Debtors 2022 2021 Other debtors i 00.000 i 00,000 l O Creditors.. amounts falling due within one year 2022 2021 Loan Accruals 57,500 6.100 700 63,600 700

Mercaz Hatorah Netzach Yisroel Notes to the financial statements For the year ended 31 December 2022 l Analysis of net assets between funds General unrestricted Designated Restricted Total funds Current assets Current liabilities 100,786 163,6001 100,786 163.6001 Net assets at the end of the year 37.186 37,186 Comparative for analysi5 of net assets between funds (prior yearl General Designated Restricted Total funds Current assets Current liabilities 16,041 17001 16,041 1700) Net assets at the end of the year 15,341 15,341 2 Movements in fund5 Incoming At the start resources & of the year gains Outgoing resources & losses At the end of the year Transfers Unrestricted funds: General funds 15,341 1,157.075 {1.135,2301 37,186 Total unrestricted 15.341 1,157.075 11.135.230) 37.186 Total funds 15,341 1,157.075 {1.135,2301 37,186 Comparative for movement in funds Iprior yearl Incoming At the Start resources & of the year gains Outgoing resource5 & losse5 At the end of the year Transfers Unrestricted funds.. General funds 4,781 976.473 1965.913) 15,341 Total unrestricted funds 4,781 976.473 1965.913) 15,341 Total funds 4,781 976.473 1965.9131 15,341

Mercaz Hatorah Netzach Yisroel Notes to the financial statements For the year ended 31 December 2022 3 Reconclllatlon of net Income / lexpendlture) to net cash flow from operatlng actlvltles 2022 2021 Net income l (expenditure) for the reporting period las per the statement of financial activities) Depreciation charges Dividends. interest and rent from investments Ilncreaselldecrease in debtors Increaselldecreasel in creditors 21.845 10,560 1100.0001 62.900 Net cash provided by / (used in) operating artivities 115,255) 10,560 4 Analysis of cash and cash equivalents At31 December 2022 At l January 2022 Other changes Cash flow5 Cash in hand 16,041 115.2551 786 Total cash and cash equivalents 16,041 115,2551 786