CHABAD LUBAvrrcH OF CAMBIUDGE FtNANCL4L STATEMEYfs FOR THE YEAR ENDED 29TH FEBRUARY 2024 coNrENtS AND CKARrrY tNFORMATION CONTENTS.. PAGE.. Report of the TNstees Indep¢*t ExaDJiThers Report Statemeni of Finatteial Activiti&s Batance Sheet Sta￿eThI of Cash Flow8 Notes to the Accounts 7- 11 TRUSTEES AND DIRECTORS: Rabbi Dr A R Itig Dr M A Amior Dr R N Duschittsky MrJOL COMPANY REGISTL4TION NUMBEIL. 09452396 CFtAIUTY REGISTRATION NUMBER.. 1162783 REGISTERED QFFICE.. 37a Castle Street Carobridge CB3 OAH INDEPENDENf EK4MINERS: lart W Sh4)ley FCCA For and on bebalf OF. Prentis & Co LLP Chartered Ac¢oullt￿ts #nd tod¢pendeot Examiners L15c Mil￿n Road CaTubridg¢ CB4 IXE BANKELiS: Hattdelsbat Byron House Cambridge B￿l￿e&S Patk Cowley Road Cambridge CB4 OWZ CHABAD LUBAvrrcH OF CAMBRIDGE PAGE I FINANCIAL STATE.MENTS FOR TlaE YEAR ENDED 29TH FEBRUAKY 2024 TRUSTEES REPORT The trustees, who are also dirertors of the charity for the purpose5 of the Companies ACL present their report together the financial statements of Chabad Lubavitch of Cambridge for the year ended 29th February 2024. Tho financial Sta￿ments cornply with the Charities Act 2011. the Companies Ad 2006. the M¢moTalldum and Articles of Association and Accounting and Reporting by Ch2riti¢s: Statement of Reconunended Practi¢¢ &pplicable to charitie5 preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective 1st January 2019). SlructhT& goverttanee and management Governing docuwent Chabad Lubavitch of Carnbridge 15 a compatty limited by guardrnee registered a5 a wmp8ny and charity in Englalld Wales on 21st FebrLWy 2015. In the event of the cotnparty being wound up members required to contribute all amount not exceeding £10. The company was founded in 2015 is exempt from the ￿quireM¢llt to use the word"limited", 2nd 15 r¢gislErEd a% A charity. The trustees during th¢ period have been: Rabbi Dr A R Leigh DrMA AEnior Dr R N Duschinsky MrJOLe Recruitment and appointtllent ofllew trnstees AppointEntnt of trustees will be by the decision of the ¢urrent trustees. New trustees will bc giien infomiation aix)ut the aims of the charity and will receive training rela￿d io their re5PQDSibiiity frorn current or p&st trustees. Risk m#nagemtnt The trustees have assessed the major ri5k5 to whT¢h the eharity is expose4 in particular th05¢ related to the operation8 and fllwn¢es of the charity, and are satisfied that Sy5teIiis ar¢ Fn place to mitigate exposure to the major risks. Objcctives And Aetivfitl In planning our activities for the year. we kept in mind the Charity Cornrnission's guidance ott public benefit al our1TUStec meetings. Chabad Lubavitch of Cambridge Pro￿oIc5 aud facilith￿S the advancement of educ&tioTh and the practice of the Jewish faith in Cambridge. The tn￿te¢S iDteDd to contillue to develop these activities. Achievements 2nd performanet During the past year our organisation been cngaged in providing religious, educational aDd social serNices to the students and staff of the Univ#rsii> of Cambridge as well as to the residents of Carnbridge and East Angli& The rise in interest rate5 and the cost of living has put & strain on our financ4 however, we are confident tbat we WIEI be able to Jnaintain th¢ level of our services over the coming peri(Kl . With growing interest in our services we wi]I be seeking new slr¢ams of ￿ni￿ng ill onler to expand ow activities l￿d Ifil our mkssion to supp(Frt the entire Jewish commutiity of Cambridge and East Anglia. Flnalicial review t)uring the year the clwity made a deficit of £12,807 (2023.. d¢fi¢it of £4,959). The charitys reserves Stand at £707,817 {2023: £720,624) Ivhich mo%tEy represents the bllilding. The tDJstees are aware of the need to generate a surplus and build up a level of liquid ieserves alld are piitiiDg m¢asw¢s in pla0¢ to ￿hl¢ve this. Grant making poliry Th¢ charity provide grants to organisatir)ns whose activitte5 Sltpport its obj¢¢tiv¢s. Th¢ tNst¢e8 will judge each case for a grant on its rnerits. CHABAD LUBAVITCH OF CAMBRIDGE PAGE 2 FINANCL4L STATEMENTS FOR THB YEARENDBD 29ni FEBRUARY 2024 TRUSTEES REPORT ...JcoNfJNUED Reserves policy The charity holds reserves in orderto generate i1￿)me to its &ctiYili¢s and to protectthe charity from unforeseen circuU￿18nCes or a fall in income levek The trustees are cuThently building the reserves aud feel having euough to eov¢r 6 months of direct CQSts in free re8ffvets is adequate. The Kserve& poli¢y will b¢Teviewed each year 8t tb¢In￿r8 meeting. Plans for the fuknre Th¢ charity wÈll c6ntinue to aavAn¢¢ the e4JucaliiJn and practice of Orth¢th Judai5rA in cu￿]bLadge as expounded by the teaching of Chabad Imbavitch. P&y polley foT k¢y personnel The tnESt¢¢$ are ¢on$id¢red to be k¢ypersoJDel of the clwity Ill ebarge of diE¢ctsng and contrDllingthe charity ou a day to day basis. The trustees give their time freely and no tt)Jstees r¢ceTrved ￿m￿n¢￿tIOn in the year for their woyk a3 tntstee. On¢ trustee received remurteration for other wortt eoDnectedwtth the charity. TRUSTEES, RESPONSIBILITIES STATEMENr The trustees (who aro also directors of Chabad Lubavith of Cam￿ldge for the pu￿loSe5 of company l&w) are reyporjsible for preptiring the tr￿tees, report and the financtal stat¢nxths in a¢cordaDce with appliiable ]aw ttud Unlted Kingdom Accounting Staudards {UJi*d Kingdom Generally Accepted Ac(￿U￿tingPJ￿tIc￿). Company and chaTity r¢quiro8 the 1Th￿te¢S to prypatt fJn8ncial SLaterwts for each fU￿n¢[al year which give a true and fair view of the state of affairs of the ¢harstsble compw aThd of the incoming msources and applicarion of r&wurces, including the uKome and expenditure. of the charitkbl¢ Company for that perio(L In preparing these fthancial statement& Ihe trust¢e$ are T¢qU]red to", select suitBble accounting polici&8 aDd th¢tt apply them consistently. observ¢ tbe methods aod prin¢iples In the Cbariues SORP. rnake judgements and estimates that 8re Tea50llablB and prudffl¢ sttttc wh¢ther applicable UK accotmtino standardshav¢ been follorf subjertto any mater&al deparltJTes disclosed and explained it) the fth8nclal stst¢mrnts. prepare the f￿2￿cl￿ statements on the going conccrn b&¥is unlgs5 it is TnappTopriate to presume tttht the charitsblo mpany wlll wntitw¢ in operati The trustees are respo#sibl¢ for keeping adequate accounlillg records that disclos¢ wlth reasonable accurncy at any time the fu)an¢ial position of the eharitable company and enable theTnto elwre that the ftnancial statements comply with th¢ Companies Aet 2006. They are a150 responsible for sthguarding th¢ assets of the cbaritable CoMp￿Y and hence for tsking regsonable st¢ps for the pr¢ventiottalld detection of fraud 8nd other irregularities. The InJ8te¢B are Tesponsible for the maintenance and intyity of the charitable company financial infornmtion included on th¢ choritys website. This r¢port has beell Prepar￿ in aCcI)rdar￿ with the speciyl provisions relaÉiDg to small companies within Part15 of the Comp&nies Act 2006. Thss report was approved by the trnste6s on and Si￿ed on their irhalt by: i/ RABBI DR A R LEIGH TRUSTEE CHABAD LuBAv￿CH OF CAMBRIDGE PAGE 3 FINANCIAL STATEMEwfs FOR THE YEAR ENDED 29TH FEBRUARY 2024 FNDEPENDENT EXAMtNERS REPORT INDEPEIYDENT EXALWIINERS REPORT TO THE TRUSTEES OF c￿AD LUBAvrtCH OF CAMBRIDGE I report to Lbe Ghan'ty t￿￿teeS on my exan)inauon of the financial statem¢nts oECbAbad Lubavi¢¢h of Cambridge for the year ended 29th February 2024, Ththich ar¢ 8et out on pages 4 io I l. RESPONSIBILrrIES AND BASIS OF REPORT As tlLe charIt￿8 tn￿tee4 of the company (and its dirtttors for ttLe purpose of cowatsy law) YOU are responsTht le for the preparatioll of accounts in accordance with the requi￿ll￿nts of tlLe comp￿leS Act 2006 (th¢'2006 Act,). HaviThg been satisfLed that the aecounts of the cott1p￿Y ap not requijed to be audited under Part 16 of the 2006 Act and are eligible for independent examinatio￿ I report in rep4)*t of my eXaMi￿tion of your charitys ￿cOunt9 as carried out ullder Section 145 of the Charities Act 2011 (tbe'2011 A¢f). [ll-arrvxog out my examinatson I have foltowed the Di[￿tiOnS given by the Charity Comrnission under Section 145{5Xbj oFtlLe 2011 ACL INDEPETrIDEErr EXA￿￿tNERS, STATEMEYr I have completed nLy exati]i￿U0ll. l ¢oDfintL thar vo m8t(ets h&ve come to my attention ill connection with the exam[[L￿lOll giving me ¢ause to b¢iieve.' 111 accounting record5 were not kept in respect of th£ company as requi￿1 by S#tion 386 of the 2006 Act. 12) the accounts do t￿1 accord with th08e accowirts￿ recor￿. 13) the accounis do not comply witlL the accoMti￿O requiren￿ts of Section 396 ot the 2006 Act other tha any requirenLent that the ac¢oullts give a'tru¢ aud faiv view which is ￿)t a matter ¢ollsidered ￿ pert of an independent exaMinatso￿ or {4} tbe &Gcounts have not been prepared in accordance with the rnethods and prillcipleE of the Statement of Recornded Pracuce for &ccountmg and reporti￿￿ by-iwities [applicable to clwiues preparitLg their A¢COiUlts iry xccordauee the Fi[￿Lcial ReportiDg Stalldard applicable t￿e UK 2nd Republic of freland (F&S102)1. I h&v¢ tto Coll¢en￿ and baye COllLe &cro&8 oo other malters in ¢0iUiCCtion with the examioation to wbtch &ttentiort sbould be draHn in this report in order ￿ enable a pD)per undetBtattdthg of tbe 4w)unts to be reacbed. IAN W SHtPLEI FCCA FOR LND ON BEILALF OF: PRENTIS & CO LLP CkL4RTEiiED AccO￿￿¥rS & NDtPENDENf F.XA￿￿Rs I15¢ Milton Road Cambridge CB4 IXE CHABAD LUBAVtTCH OF CAMBRJDGE PAGE 4 FINANCIAL STAfEMENTS FOR THE YEAR ENDED 29TH FEBRUARY 2024 STATEMENT OF F￿ANCIAL ACTIVITIES Total F￿aS Unrestrided 2024 Funds Lnre5tricted 2023 Notes Donations and Tuition Investment in¢ome 63,864 5.495 16,53 1 85,890 64,611 19,123 16,675 TOTAL Irqco.ME 100,409 EXPENDtTURE Ch￿Ilable activitie5 98.697 105,368 TOTAL EXPENDfnJRE 98,697 105,368 NET DEFICIT AND NET MOVELIIEIT tN FUNDS (12,807) (4,959) R6conciliation of Fun&% Tot&1 funds brougbt forward Tot&1 funds earried forward 720,624 725,583 707.817 720,624 The lloies on tmges 7 to I I forni part of d￿$¢ financial ststements. CELIBAD LUBAVITCH OF CAMBRIDGE PAGE 5 FINANCIAL STATEMEDrrs FOR THE YEAR ENDED 29TH FEBRUAKY 2024 BALANCE SHBET 2024 2023 Notes FIXED ASSETS Tthgible fixed ￿ets 1,043.435 1,052,384 CURRENT ASSETS Debtors Cash at bank 3,493 3.420 563 TOTAL CURREP4T ASS 6,913 7.599 CREDtTORS.. amounts talling due withirL on? y NET CISRREhY LIABILfTIES io 27,781 17,859 (20.868) k,022.567 (10.260) 1,042,124 T(yfAL ASSXTS LESS CURRENT LIABILITIES CREDtfoRS: aulouxkts f811iDg due aftcr one year 314,750 707,817 321,500 720,624 NET A&SETS THE FUNDS OF THE CHAIUTY Urtrestrkcted InGom¢ fi￿d8 12 707,817 720,624 720,624 TOTAL CHARrrY FUNDS 707.817 The dtrt ectors consider that tb¢ Company18 entitled to exemplloD from the requ%rem¢nt to have au audit und¢r th¢ provisions of S¢¢tiotL 477(1) of the Comp&uies A¢t 2006. Members have not required'the comp2lly under S¢ctitsn 476 of the Comp8ni¢s Act 2006, to obtatn an audit for the year ended 29th February 2024. The director5 acknowledge their responsibilities for ellsuring that the company keeps acctiuntillgreeords which comply with SectsoD 386 and 387 of the Cou)panie5 A¢t 2006 and for Pre¥￿i￿g fmancial statemetLts whith give a t￿¢ and faxr view of the state of afhirs of th¢ COLDP2rty as at 29th FebrU￿Y 2024 and of its deficti for the >rar then ended in accordatsce with the requirements of Section 396 and whith otherwise corNply with the reqU[￿r￿￿ts oEth¢ Act rel￿.ng to the fnwicial statements as far as applicabl¢ to +JLe ¢om)any. Th¢ financial ststemeAts, Ivhich h&v¢ prepared in accordancewith the spec&a5 provisions relating to the ¢ornpani¢s subject to the sm&ll comphnie5 fEgime within Part 15 of the Companies Act2006, weff approved by the boaTd on and sigued ott its behftlf. RABBI DRARLELGH TEiUSTEE The notes on pages 7 to I I fonn part of these fjDancÈ&l StateD￿ts. CHABAD LUBAvrrcH OF CAMBIUDGE PAGE 6 FtNANCIAL STATEMETrrrs FOR THE YEAR ENDED 29TH FEBRUARY 2024 STATEMENT OF CASH FLOWS 2024 2023 Not&5 Casb flow from operatin% l¢tI￿lIeS 14 (3,6161 11.3l6) ch￿ge In cayb and cash equlvilents in the ye¥r Cash and cayh equlv&Eents brought forward Cash and cash equlvaients carrled forTrard (3,616) (1,316) 8,352 7,036 3.420 7,036 CHABAD LUBAVITCH OF CAMBRIDGE PAGR 7 FINANCIAL STATEMBNTS FOR THE YEAKENDED 29TH FEBRUARY 2024 NOTES TO THE FINANCLAL STAfEMEhlS ACCOUNTING POLJCIES 1.1 Basis of prep*ratio￿ of fioaD¢i41 slatements The fIn￿Cial statements have been prepared in accordance with Accounting and Reporiing by Charities.. Statement of reconunended practice applicable to charities preparitig their accounts in accordance with the Financial Reporting Standard applicabl¢ in the UK and Republic of Irelan(L (FRS 102) (eff¢¢tive 1st January 2019)- (Cbarities SORP (FRS 102)). the Financial ReportiDg Standard applicable in the UK and Republic of Frelatsd (FRS 102) alld the Companies Act 2006. Chabad Lubavitch of CaTnbridg¢ meets the definitio]J of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at bisiorical cos( or tran￿tIOn value un]ess otherwryse stated in the relevantpolicy not¢. 1.2 Going etsneern The accounts are prepor¢d on a going con¢em basi5. and th¢ mtst¢¢5 ton5ider this appropriate. There are net current liabilities of £20.868 although £18.505 of current liabilitie5 repr¢s¢nt a'soft, loan from of its trustees. The charity relies on the continued support of its don¢)rs and tn￿teeS 8nd consider this support wtll continue in the mediutn terni. There is a mortgdge on the propety and it's rq)ayment detai]s are dI￿1(￿￿d under nots I l. 1.3 Fund aryounting General funds are unrestricted funds which are available for use at the discretion of the trnstees fiwtherance of the general objectives of the company alld which have not been designated for otber purposes. Designated fijnds cojnprise utrestricted fiJnds that have bec￿ set aside by the t￿￿teeS for particular purposes. The aim alld use of each desigDated fi￿d 15 Set out in tbe llotes to the fmanciiil statements. Restricted ￿ndS are fimds which are to be us¢d ID accordance with specific restrirtitsns imposed by donors which have been raised by the company for particular putposes. The costs of raising and admillistuitig such fimds ￿ charged agaillst the specific fim¢l The ai]ll a￿d use of each restrict¢d fi￿d is s¢t out in the notrs to the fiDallcial slathents. Investment income, gains and losses are allocated to the appropriate fijnd. 1.4 Income R¢cogThition All inco]ne is recognised in the statement of fina￿¢1&[ &cuvities when the company is legally entitled to the in¢om¢ and th¢ amount can be quantificd with reasonable accuracy. 1.5 Expenditure Recognitio All expenditure is accounted for on an acen￿lS basis and ha8 been included under expense catsgorieg that aggrcgatc all costs for allocation to activities. Whcre costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resourtes. Govemance costs are those incurred in conneciionwith adMI￿tration of the coJnparLy a]Ml co]llpliance ith constitutionaL a￿d 5tatutoryrequirements. Grdnts payable are charged An the year when the offer is rnade except in those cases wher¢ th¢ offcr is condiiional, such grants being Tecognised as expenditure when the conditions attaclLitig are fulfilled. Graryts offered subject to conditions which haye Dot been met at thc year £nd are noted as a cominitmenL but not accrned as expellditure. CHABAD LUBAVITCH OF CAMBRIDGE PAGE 8 FINANCtAL STATE￿￿￿rs FOR THE YEAR ENDED 29TH FEBKUARY 2024 NOTES TO THE FtNANCIAL STATE￿￿ENTs 1.6 T2ttgible fJx¢d a55ets and depreciation Tangible fixed assets are stated at ¢0St less depreciation. Depreciatioll is provided at rates calculated to write off the cost of fix¢d wets, le&8 their estimated resithlal Trnluc. over their expectsd ￿SefUl IivES on th¢ folloMryng base8.' Freehold property (ex¢luding Ydlue of the land) Office cquiprnent Fixtllres and fittings - 2Yo Strdight line - 250/0 straigbi line - 2￿/& srraight line VOLUDflARY INCO1￿& Total Total Un￿strIct6d Unr¢stricted Fund5 Funds 2024 2023 DonatioDS 63,864 64,611 Ir*VLSTItENT INCOME Total Total Unr¢stricted Unrestricted Funds Fund$ 2024 2023 Rental incorne 16,531 16,675 DIRECT COSTS Totsl Total Unrestricted Unr¢stricted 2024 2023 Repairs Heat 3nd light Rate5 Trdvel 8Dd subsistence Website and computer costs TeleplLone Sundry expenses Interest Qll Tnortgage Bark charges 214 5.453 1.417 3,395 2,118 322 966 25,139 594 641 6,385 1,343 2,263 1,242 942 1,102 15,516 646 L 11 tnsuran¢e Depreciation Il'ages and salaries Outreach activities Cleaning Childcare Goyemance costs (see nots 5 on page 9) Bad debt 1,073 8,949 18,500 22,366 1,148 5,529 1,514 1,045 8,953 32,572 22,717 2,586 5,409 ,331 675 98.697 105,368 CHABAD LUBAVITCH OF CAMBlU[￿E FINANCIAL STATE￿￿￿rs FOR THE YF.AR ENDED 29TH FEBRUARY 2024 NOTES TO THE FINANCIAL sTATE￿￿K￿s GOVERNAI%CE Costs Totsl Total Unr¢5tricted UDrestricted Funds Funds 2024 2023 Independent examiners fees 1,514 1,331 NET RESOURCES EXPENIDED This is stat¢d aftEr dwging.. Depreciation of tarygible fixed &ssets.' - Om￿cd by charity Independent exarniners 2024 2023 8,949 1,514 ,955 1,331 srAFF COSTS Sthff costs were as follows:. Wages and salaries 2024 2023 18,500 32,572 The average monthly number of employees during the period Wd5 LS follows:. 2024 2023 Administrative No employee received remuneration amounting tti more tban £60.000. The key management perso[￿¢1 of the cbartty. comprise the board of trUit¢es. The tDÉal etryplovee benefits of the Key Tnana8Erlletti personnel of the £h8rty was £7,500 (2023.. £12.500) paid to Rabbi Dr A R L¢igh a trustee. R Leigh spouse of Rabbi Dr A R Leigh received ren]unerntion amounting to £1 1,00012023.. £12.000) TANCtBLF, FtXF.D ASSETS YEAR ENDED 29TH FEBRUARY 2024 COST Balance at 1st March 2023 aDd Balance at 29th February 2024 DEPRECIATION Balw]ce at 1st March 2023 Charge for the year Balance at 29th February 2024 NET BOOK VALUE AT 29th FebThary 2024 FiKtiwes & Fittings Equipm¢tst rr¢¢hold Property Total .030 4,768 1,111,009 1,116,807 412 -1,579 1.189 4,768 60,432 64,423 8,949 73.372 618 67,986 1,043,023 412 1.043,435 CHABAD LUBAVITCH OF CAMBRIDGE PAGE 10 FtNANCIAL STATEMENTS FOR THE YEAII ENDED 29TH FEBKUAKY 2024 NOTES TO THE FINANCIAL STATEMENTS TANGIBLE FIXED A&SETS ...Jtontinued YEAR ENDED 28TH FEBRUARY 202) COST Balance at 1st March 2022 and Balanc¢ at 28th FBbruary 2023 DEPRECtATION Balance at 1st March 2022 Charg¢ for the year Balance at 2Sth Feixuary 2023 NET BOOK VALLE AT 28th February 2023 Fixtures & Fittings Equipment Frcehold Property Tot 1.030 4,768 1,111,009 1,116,807 206 206 2.386 ,193 52.878 7,554 60,432 1,050.577 55,470 8,953 412 64,423 1,052,384 618 1,189 All fixed assets are us¢d for dir¢¢t charitsble purposes. DEBTORS 2024 2023 Other debtors 3.493 563 io. CREDITORS LVJOUPITS FALLll¥G DUE WftHJN ONE YEAR 2024 2Q23 A￿ru￿]$ Other creditors 1,673 26.108 27,781 1,573 16,286 17,859 ii. CREDrroRS AMOUNTS FALLING DUE AFfER ONE YEAR 2024 2023 Mortgage 314,750 321,500 Th¢ rnortgage h&8 a matijrity date of 5th Febrnary 2026. and is repayable after that date. The interest rdtc is 2.W/o over LIBOR. Security has becn provided against the rnortgage on 37A Castle Street, Cambridge. 12 STATEMENT OF FUNDS YEAR ENDED 29TH FEBRUARY 2024 General Fund5 General Funds Brought For4vard Carried In￿Me Expe￿di￿r¢ 720,624 85,S90 98,697 707,817 I"otal Unreskricted Futsd5 720,624 85.890 98,697 707,817 srATEMENf OF FUNDS YEAR ENDED 28TH FEBRUARY 2023 General Fund5 Genernl Funds Brought orward c1￿]ed Fonvard Incorne Expenditure 725,583 100,409 100.409 105,368 720,624 Total UDrestrirted Funds 725,583 105,368 720,624 CFIABAD LUBAVITCH or CAMBRIDGB PAGE 11 riNANCIAL STATEMENTS foR THE YFAR ENDED 291Tr1 FEBRUARY 2024 NOTES TO THE FINANCIAL STATEMBwrs 13. ANALYSIS OF NET ASSETS BETWKEN FUNDS Total Total Unrestricted Unrestricted Funds Funds 2024 2023 Tangible fixed &ssets Current assets Cr¢ditor3 due within one year Creditors due after one year 1.043,435 1,052,384 6,913 7,599 (27.781) (17,859) {314,750) (321,500) 707,817 720,624 14. RECONCILIATION OF f4ET.MOVEMENf IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net movemeni in ￿ndS Add b8¢k deprecsation Incre&8e/(decrease) in creditors (Increaseydecrease in debtoJE C&8h flow from operating activities (12.8071 8,949 3,172 (2,930) (3,616) (4,959) 8,953 (5,422) 112 (1,316) 16. RELATED PARTY DISCLOSLUIES During the year R Leigh, wife of trustee Rabbi Dr A R t£igh received a salary on nornial ¢ommercial ternis and was reimbursed expetlses (see nore 7). 17, TRUSTEE KXPENSES During the year trnstee exp¢Ds