Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
Registered number: 09583708
Charity number: 1162974
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE
AGED
(A company limited by guarantee)
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
CONTENTS
Page
Reference and administrative details of the charitable Companys its Trustees and
advisers
Trustees. report
Independent examiner's report
statement of financial activities
Balance sheet
9-10
Statement of cash flows
11
Notes to the financlal statements
12-32

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND
ADVISERS
FOR THE PERIOD ENDED 29 APRIL 2022
Trustees
B Mocatta. Chair
R Taylor, Trustee
G R Riese, Trustee
V Eth"nghausen, Trustee
D Ezekn'el. Trustee
Company registered
number
09583708
Charity registered
number
1162974
Registered office
16 Great Queen Street
Covent Garden
London
WC2B SAH
Aecountants
Blick Rothenberg Limited
Chartered Accountants
16 Great Queen Street
Covent Garden
London
WC2B SAH
Page 1

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THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
TRUSTEES, REPORT
FOR THE PERIOD ENDED 29 APRIL 2022
The Trustees present their annual report together with the financial statements of the charitable company for the
1 November 2020 10 29 April 2022. The annual report serves the PUTposes of both a Trustees, report and a
directors. report under company law. The Trustees confimi thal the annual report and financial statements of the
charitable company comply with the current statutory requirements, the requirements of the charitable company's
governing document and the provisions of the Statement of Recommended Practi￿ ISORPI applicable to
charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS1021 leffectNe 1 January 20191-
sin￿ the charitable company qualifies as small under sects.on 382 of the Companies Act 2006, the strategic
report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors,
Report) Regulations 2013 has been omitted.
Achievements and perforniance
a. Main achievomonts of th8 charitsble company
During the stsrt of the financial period commencing 1st November 2020, the Home conb.nued lo provide day to
day care at varwng levels depending on the requirements of the residents. The Home had a large proportion of
people with dementia and continues to improve its standard of care for the increased number of our residents
will all types of demenb"a.
During the pandemic, as reported last year the Home experienced a tragic increase in the number of deaths.
This was parUy due lo natural causes but it was grossly exa￿rbaled by the returning of infected residents
returning from hospitals. The numbers of residents dropped to totally uneconomic levels.
So by late November a decision was taken to close the Horne before its finances were exhausted. The Home
and Choice Court has been running al a loss for many years. surviving on its reserves and occasional legacies,
and seeing no respite from this financial haemorrhaging the Trustees felt they had no alternative.
Additionally, local authorities stopped funding placements and the Jewish community in the Wembley area has
diminished considerabty, which further led to the decision.
The families of all the resident5 and the residents themselves were grven fiirmal noti￿ in January 2021. 1 am
pleased to say despite Covid and the issues of moving elderty residents. many of which had dementia, went very
smoothly for which the Trustees are indebted to Paul Peak and Roger Ellis ft)r their incredible wotk. So by June
2021, every resident except for one resident in choi￿ Court were satisfactorily rehoused. The controlled closure
of the Home occurred once all residents had retEived their second vaccination5 and they were able lo find
suitable accommodation in other care homes.
Following the last departure, the site of the Horne has been taken over by Adhoc Property Management Limited
who act as property guardians. Though not perfect the arrangernent has meant that the buildings are occupied
and this enhanTrs the safety of the site and the Synagogue which is the Wembley branch of the Spanish and
Portuguese Jews Congregation.
The trustees do intend for the charity to continue for the benefit of the elderly of the Jewsh community for the
foreseeable future by using the retums of its investment towards related charitable activities. The Trustees are
seeking legal advice on this.
I repeal that the Tnjstees were fortunate to have such a wonderful team of loyal, patient, caring and
understanding staff under the supervision of Paula Peake Ichief Executive) and Roger Ellis (Registered
Manager), and their incredible hard work that they all endured once the pandemic crisis started and throughout
the ensuing period to closure. Ulbmately all of the staff had to be made redundant and the Trustees are
extremely grateful to all of them and their dedication.
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THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
TRUSTEES, REPORT ICONTINUEDI
FOR THE PERIOD ENDED 29 APRIL 2022
Achievements and perforniance (continued
b. Polieies and objectives
In setting objecb'ves and planning for acb'vities, the Trustees have given due considerab'on lo general guidance
published by the Chanty Commission relating to public benefit, induding the guidance 'Public benefit". running a
charity IPB21'
Flnanclal revlew
a. Flnanclal evaluation
The Statement of Financial Activities set out on page 8 of the financial statements shows how the charitable
company's incoming reSoUr￿S have been expended during the period ended 29 April 2022.
Totsl incoming resources amounted to £850,12612020." £1,879,578), comprising charitable activities of £727,085
12020. £1,709,194), donations of £80,016 12020. £143,907), investment income of £797 12020. £26,577) and
other income of £42,22812020.' £Nil).
Totsl expendrture for the period was £1.296,019 (2020.. £2,162,814) and there were gains on the investments
held by the charitable company of £189,416 (2020". loss of £88,154). The charitable company incurred an
impairment charge of £2.536,651 12020.. £Nill as a result of the reslriclion in the terms of the lease for Choi
House and Choice Court which stipulated that the propety must be used for care home activities with the
provision of the lease surrender to the freeholder, S&P Synagogue, if the activity ceases. The Trustees are of the
opinion that value of the leasehold interest in the propety should therefore be written down to £1.
Accordingly, the deficit for the period was £2,793,128 {2020.' £371.3901. After bringing in the brought forward
reseNes of £3,525,122 12020.. £3,896,512), the closing funds at 29 April 2022 amounted lo £731,994 12020..
£3,525,122).
The slalement of finanaal position set out on page 9 of the financial statements shows the financial position of
the charitable company at 29 April 2022.
Nel current assets of £71,178 12020.. £57,177) is represented by fixed assets of £660,816 12020.. £3,467,945),
debtors of £16,702 12020.. £51,825) plus cash al bank and in hand of £76,976 12020.. £383,377), less current
liabilities of £22,50012020.' £378.025}.
Total nel assets amount lo £731,994 12020: £3.525,122). whith is represented by the closing balan￿ on the
unrestricted funds.
b. Investment performance
As staled, the fvjnds of the Charity are mainty invested in a pooled investment fvjnd with the London Sephardi
Trust and managed by Walker Crips Ltd. The policy is to adopl a medium risk investment strategy. The returns
this period have been satisfactory as mentioned in the following figures.
The value of the Charity's investments as al 29 April 2022 is £660,815 12020. £866,399). There was a capital
withdrawal of £395,000 during the period12020'. £150,000)-
Page 3

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THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
TRUSTEES, REPORT ICONTINUEDI
FOR THE PERIOD ENDED 29 APRIL 2022
c. Going concem
Even though the company ceased to operate the care home in Ihe period. the trustees do intend for the charity to
continue for the benefit of the elderfy of the Jewish community for the foreseeable future by using the returns of
ils investment towards related charitable acts"vities. Where appropriate, the charitable company's assets have
been written down to their net realisable value_ The Trustees have a reasonable expectation that the charity has
adequate reSoUr￿S to conts.nue in operational existen￿ for the foreseeable ftjture. Thus, the Trustees continue
lo adopt the going concem basis of accounting in preparing the financial statements.
d. Controls
The Treasurer reviews the financial perfomiance and cash flow of the Charity on an ongoing basis, together with
the Accounts Manager. The Board of Directors is regulady updated with current financial reports which show
actual Income and expenditure against budget to date. Close scrutiny is made of all items with significant
variances lo determine the appropriate management acbon.
e. Fundraising and sources of income
The Charity is fortunate to re￿1ve a small annual amount from donations and a significant amount of income
from its investments with the London Sephardi TrusL
During the period the Home has been taken over by Adhoc Propety management Limited who act as propety
guardians. This has enabled the Charity to start generating some other income during the period.
f. Reserves policy
The unrestricted funds arise from past operating results, but also indude the long leasehold propety of Choice
House and Choice Court as well as other investments. We have instant or relatively qLJick access to funds in the
Pool investment which can be released by special arrangement at short notice. This and the collection of
harges due from residents is more than adequate in the opinion of the Board of Directors lo meet the
foreseeable contractual obligations to staff and provision of a4re to residents and tenants.
g. Investment policy
The capital of the Horne is invested under a pooling arrangement wth the London Sephardi Trust which is a
limited company which looks after the pooled funds of not only the Charity bul also the Spanish and Portuguese
Jews, Congregation's own capital, the Welfare Board and a variety of smaller charitable funds. One member of
the Board of Jewish choi￿ is a permanent rnember of the board of the London Sephardi Trust. Funds are
withdrawn or invested with this Trust on 31 October of each year. though m8jOf Withdrawals or additions can be
made at other times by speaal arrangement Other funds of the Charity are invested in deposit accounts with the
Charity's bank.
h. Risk management
The Trustees have assessed the major risks to which Jewish Choice is exposed, in particular those related to
the operations and finan￿S of the Charity and are satisfied that systems are in place to mrtigate exF)osure to
major risks.
Page 4

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THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
TRUSTEES, REPORT ICONTINUEDI
FOR THE PERIOD ENDED 29 APRIL 2022
i. Post balance sheet events
It is the intention of the Trustees to make granls lo other care Homes which wholly, or in part, serve the Jewish
Community. The Trustees wish to assist such Homes in the purchasing of specialist equipment that may be
required. Before doing so the Home will lake legal advice to ensure that this policy Is within the lawful objects of
the Home.
structure. govgmance and management
Constitution
The Spanish and Portuguese Jews Home for the Aged is registered as a charitable company limited by
guarantee and was sel up by a Trust deed.
b. Methods of appointment or election of Trustees
The management of the charitable company is the responsibility of the Trustees who are elected and co-opted
under the terms of the Trust deed.
The Trustees, who are also the directors for the purpose of company law, and who served during the period
were..
B Mocatta, Chair
R Taylor
G R Riese
V Ettinghausen
D Ezekiel
J Shapiro Iresigned 17 November 2020)
S D Zubaida (resigned 27 April 2021}
Approved by order of the mernbers of the board of Trustees and signed on their behalf by..
B Mocatta
Date".
CA7￿861￿E1
27-Jan-23 1 11:34 f￿[
Page 5

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE PERIOD ENDED 29 APRIL 2022
Independent examinerfs report to the Trustees of The Spanish and Portuguese Jews Home for
the Aged {Ihe charitable tompany.)
I report to the charity Trustees on my examination of the accounts of the charitable company for the period
ended 29 April 2022.
Responsibilities and basis of report
As the Trustees of the charitable company land its directors for the purposes of company lawl you are
resF)onsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006
I'the 2006 ACVI.
Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16
of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the
charitable company's accounts carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In
carrying out my examination I have followed the Directions given by the Charrty Commission under section
14515llbl of the 2011 Act.
Independent examlnerfs statement
sin￿ the charitable company's gross income exceeded £250,000 your examiner must be a member of a body
listed in section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination because l am a
member of the ICAEW, which is one of the listed bodies.
I have completed my examination. I confim that no matters have come to my attention in connection with the
examinats'on giving me cause to believe..
accounting records were not kept in respect of the charitable company as required by section 386 of the
2006 Act., or
the accounts do not accord with those records", or
the accounts do not comply wth the accounkn.ng requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of
an independent examination". or
the accounts have not been prepared in accordan￿ the methods and principles of the Statement of
Recommended Pracb"ce for accounb.ng and reporb.ng by charities applicable to charities preparing their
accounts in accordance wth the Financial Reporb"ng Standard applicable in the UK and Republic of
Ireland IFRS 1021.
I have no concerns and have come across no other matters in connection with the examination lo which
attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached.
This report is made solely to the charitable company's Trustees, as a body, in accordance with Part 4 of the
Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale to the
charitable company's Trustees those matters l am required to stsle to them in an independent examiner's report
and for no other purpose. To the fullest extent pemiitted by law. I do not accept or assume responsibility to
anyone other than the charitable company and the charitable company's Trustees as a body, for my work or for
this report.
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THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT {CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2022
Signed".
Darsh Shah
Dated. 2710112023
Instilute of Chartered Accountants in England and Wales
Blick Rothenberg Limited
Chartered Accountants
16 Great Queen Street
Covenl Garden
London
WC2B SAH
Page 7

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THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTMTIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE PERIOD ENDED 29 APRIL 2022
Restricted Unrestricted
funds
funds
18 months
18 months
ended
ended
29 April
29 April
2022
2022
Total
funds
18 months
ended
29 April
2022
Total
funds
31 October
2020
Note
Income from:
Donations and legacies
Charitsble activities
Investments
Other income
53.692
26.324
727,085
80.016
727,085
797
143,807
1,709,194
26,577
311
42.228
42.228
Total Income
54.003
7%.123
850,126
1,879,578
Expenditure on:
Charitable activities
53,692
1,242,327
1,296,019
2,162,814
Total expenditure
53.692
1.242.327
1.296.019
2,162,814
Net incomel{expenditure) before net
gainslllossesl on investments
Nel gainslllossesl on investments
311
1446,204
189.416
1445,893
189.416
1283,2361
188,1541
Net Incomel{expendlture)
Transfers between funds
311
1256.788}
4,233
1256,477}
1371,3901
16
14,2331
Net movement in funds before other
recognised gainslllosses)
13.9221
1252.555}
1256.4771
1371,3901
Other recognised losses
Losses on revaluation of fixed assets
12
(2.536.651} {2.536.651}
Net movement in funds
13,9221 {2,789,206I {2,793,1281
1371,3901
Reconcillatlon of funds:
Total funds brought forward
Nel movement in funds
3,922
3,521,200
3,525,122
13.9221 (2.789.206} {2.793.128}
3,896,512
1371,3901
Total funds carrfed fopmard
731.994
731.994
3,525,122
The Statement of financial activities includes all gains and losses recognised in the period.
The notes on pages 12 to 32 form part of these financial staternents.
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THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
REGISTERED NUMBER: 09583708
BALANCE SHEET
AS AT 29 APRIL 2022
29 April
2022
31 October
2020
Note
Fixed assets
Tangible assets
Investments
12
13
2,601,546
866,399
660,815
660,816
3,467,945
Current assets
Debtors
14
16.702
76,976
51,825
383,377
Cash at bank and in hand
93.678
435,202
Creditors.. amounts falling due within one
year
15
122.500)
{378,0251
Net current assets
71,178
57,177
Totsl assets less Current liabilities
731.994
3,525,122
Net assets excluding pension asset
731.994
3,525,122
Total net assets
731.994
3,525,122
Charity funds
Reslricled funds
Unrestricted funds
16
16
3,922
3,521,200
731.994
Total funds
731,994
3,525,122
Page 9

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
BALANCE SHEET ICONTINUEDI
AS AT 29 APRIL 2022
The charitable company was entided to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the period in question in accordance with
section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
aecounling records and preparation of financial statements.
The financi81 ststements have been prepared in accordan￿ with the provisions applicable to entities subject to
the small companies regime.
The financial ststemenls were approved and authorised for issue by the Trustees and signed on their behalf by..
OouJ4n•d hy.
E14gs
Date".
27-Jan-23 | 11=34 GMT
The notes on pages 12 to 32 fom part of these financial statements.
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THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 29 APRIL 2022
18 months
ended
29 April 31 October
2022
2020
Note
Cash flows from operating o¢tivi¢ies
Nel cash used in operating activities
20
{714.5211
1186,5551
Cash flows from investing activities
Dividends, interests and rents from investments
Proceeds on disposal of investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
26,406
150,000
395,000
13,120
111,4591
Net cash provided by investing activities
408.120
164.947
Change In eash and cash equlvalents In the perlod
Cash and cash equivalents at the beginning of the period
{306.4011
{21,6081
383.377
404,985
Cash and cash equivalents at the end of the period
21
76.976
383,377
The notes on pages 12 to 32 fom part of these financial statements
Page11

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
General infomiation
The Spanish and Portuguese Jews Home for the Aged is a private company limited by guarantee
ineorporaled in England and Wales. The registered Offi￿ is 16 Great Queen Street, Covent Garden,
London, WC2B 5AH.
These finanaal statements have been prepared for a 18-month period from 1 November 2020 to 29 April
2022 due to the decision to close the care home, the warden assisted accommodation units and the day
cenlre. Therefore, the comparative figures are not entirely comparable.
The financial statements are prepared in steding, which is the functional currency of the Charity. Monetary
amounts in these finanaal statements are rounded to the nearest £.
Accounting pollcles
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordan￿ with the Charities SORP IFRS 1021-
Accountyng 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 IFRS 1021 leffects.ve 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Spanish and Portuguese Jews Home for the Aged meets the definition of a public benefit entity
under FRS 102.
Assets and liabilities are initialty recognised at historical cost or transaction value unless otherwise
stated in the relevant accounting poly.
2.2 Going concern
Even though the company ceased to operate the care home in the period, the Iruslees do intend for
the charity to continue for the benefit of the eldedy of the Jewish community for the foreseeable future
by using the retums of its investment towards related Charitable activities. Where appropriate, the
chanlable company's assets have been vrritten down lo their net realisable value. The Trustees have
a reasonable expectation that the charity has adequate resour￿$ to continue in operational
existence for the foreseeable future. Thus. the Trustees continue to adopt the going concern basis of
accounb.ng in preparing the financial slatements.
2.3 Charitable funds
Unrestricted funds are available for use at the dI￿retIon of the Trustees in fvrtheran￿ of their
charitable objective5 unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors as lo how they may be used. The
purposes and uses of the restn.cted funds are set out in the notes to the financial statements.
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Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
Aecounting policies Itontinuedl
2.4 Income
All income was recognised once the charitable company has enlitlemenl to the income, il is probable
that the income will be re￿IVed and the amount of income re￿1vable can be measured reliably.
Fees from residents and local authorities for accommodation and care services are recognised on a
re￿1vable basis. Any payments made in advance by clients at the period end a￿ included within
creditors.
Cash donations are recognised on r￿lpt. Other donations are recognised On￿ the Charity has
been notified of the donation, unless perfom)ance conditions require deferral of the amount. Income
tax recoverable in relation to donations received under Gift ￿'d or deeds of covenant is recognised at
the time of the donation.
Legacies are recognised on r￿lpt or othemise if the Charity has been notified of an impending
distributs'on, the amount is known, and receipt is expected. If the amount is not known, the legacy is
treated as a contingent asset.
2.5 Expendlture
Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit
to a third paty, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each ath'vity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable lo a single activity are apportioned between those activities on a basis consistent with
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciats'on
charges allocated on the portion of the asset's use.
Expenditure on charitable activi￿.e$ is incurred on direcdy undertaking the activities which further the
charitable company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.6 Government grants
Grants of a revenue nature are recognised in the profil and loss account in the same period as the
related expenditure.
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THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
Aecounting policies Itontinuedl
2.7 Tangible fixed assets and depreciation
Tangible fixed assets are inib'ally recognised at cost. After recognition, under the cost model, tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis."
Land and buildings
Motor vehicles
Fixtures and fith'ngs
Over the lease temi
200A straight line basis
200A straight line basis
2.8 Investments
Investments represent a Sha￿ of a Common Investment Fund and are held within fixed assets. The
fund includes listed investments, which are stated al mid-market value at the period end, as well as a
portfolio of freehold properties. All movements in value arising from revaluats'on are shown as part of
the Ststemenl of Financial Actwibes. Investments are held primarily to provide an investment return
for the Charity.
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-temi highly liquid investments with a short malurily
of three months or less from the dale of acquisition or opening of the deposit or similar account.
2.10 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balan￿ sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount Ihal the charitable company anlicipales il will pay to settle the
debt or the amount it has received as advanced payments for the goods or serVI￿S it must provide.
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Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
Aecounting policies Itontinuedl
2.11 Financial instruments
The charitable company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial
instruments.
Financial assets and financial liabilities are reeognised when the charitable company becomes paty
to the contractual provisions of the instrument
Financial liabilities are classffied according to the Substan￿ of the contractual arrangements entered
into.
The charitable company s policies for rts major classes of financial assets and financial liabilities are
set out below.
Flnanclal assets
Basic financial assets, including trade and other debtors, cash and bank balances, are inits'ally
recognised al transaction price, unless the arrangement constitutes a financing transaction, where
the transaction is measured at the present value of the future receipts discounted at a market rate of
interest for a similar debt instrument. Financing transactions are those in which payment is deferred
beyond normal business temis or is financed at a rate of interest that is not a market rate.
Such assets are subsequentiy carried at amortised cost using the effective interest method, less any
impaimient.
Financial liabilities
Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised al
transaction price, unless the arrangement constitutes a financing transaction, where the debt
instrument is measured al the present value of the future payments discounted at a market rate of
interest for a similar debt instrument. Financing transactions are those in which payment is deferred
beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt inslrumenls are subsequently carried al anw)rtised cost, using the effective interest rale method.
Page 15

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
Aecounting policies Itontinuedl
Financial instruments (continued)
Impairnient of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting
period for objective eviden￿ of impaimenL If objective evidence of impairment is found, an
impaimient loss is reeognised in the statement of financial activities.
For finanaal assets measured at cost less impaim*nt, the impaimient loss is measured as the
difference between the assevs carrying amount and the best esb'mate of the amount the company
would re￿1ve for the asset if rt were to be sold at the reporting date.
For financial assets measured at amortised cost. the impairment loss is measured as the differen
be￿een the assefs carrying amount and the present value of estimated cash flows discounted al the
asset's original effecb've interest rate. If the financial asset has a variable interest rate, the discount
rale for measuring any impairment loss is the current effecbve interest rale determined under the
contract.
If there is a decrease in the impaimient loss arising from an event occurring after the impairment was
recognised, the impaimient is reversed. The reversal is such that the current carrying amount does
not exceed what the carying amount would have been had the impaimient not previously been
recognised. The impairment reversal is recognised in the statement of financial aclivilies.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (al the contractual rights lo the cash flows from the asset
expire or are settled, or Ibl substantially all the risks and rewards of the ownership of the asset are
transferred lo another paty or Ic) despite having retained some significant risks and rewards of
ownership, control of the asset has been transferred lo another paty who has the practical ability to
unilaterally sell the asset to an unrelated third paty without imposing additional reslriclions.
Financial liabilities are dereccyjnised when the liability is extinguished, that is when the contractual
obligation is discharged, ￿n￿lled or expire&
Oftsetting of financial assets and financial liabilities
Financial assets and liabililies are offset and the net amount reported in the balance sheet when
there is an enforceable right lo set off the recognised amounts and there is an intention lo sellle on a
net basis of to realise the asset and setde Ihe liability simultaneously.
2.12 Pensions
Payments to defined contn"bub"on retirement benefil schemes are charged as an expense as they fall
due.
Page 16

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
Aecounting policies Itontinuedl
2.13 Employee benefrts
The cost of any unused holiday entidement is recognised in the period in which the employee's
services are received.
Termination benefits are recognised immediately as an expense when the charitsble company is
demonstrably committed to teminate the employment of an employee to provide termination
benefits.
2.14 Leases
Leases are classffied as finance leases whenever the terms of the lease transfer substantially all the
risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value al the
date of In￿ptIOn and the present value of the minimum lease payments. The related liability is
included in the balance sheet as a finance lease obligation. Lease payments are treated as
consisting of capital and interest elements. The interest is charged to net incomellexpendilurel for
the period so as to produ￿ a constant periodic rate of interest on the remaining balance of the
liability. The charitable company had no finance leases for the period under review.
Rentsls payable under operating leases. including any lease incentsves received, are charged to
income on a straight line basis over the temi of the relevant lease.
2.15 Fund accounting
General funds are unreslricled funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the charitable company and which have not been designated
for other purposes.
Restricted funds are fvnds which are to ￿ used in accordance with specific restrictions imposed by
donors or which have been raised by the charitable company for particular purposes. The costs of
raising and administering such funds are charged against the specific fund. The aim and use of each
restricted fund is set out in the notes lo the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 17

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
Income from donations and legacies
Restricted Unrestrieted
funds
funds
18 months
18 months
ended
ended
29 April
29 April
2022
2022
Total
funds
18 months
ended
29 April
2022
Donab'ons and gifts
Government grant5
26,324
26,324
53,692
53.692
53,692
26,324
80.016
Restricted Unrestricted
funds
funds
Total
funds
31 October
2020
31 October
2020
31 October
2020
Donab'ons and gifts
Government grants
1.970
80,076
61,761
63,731
80,076
82,046
61,761
143,807
Income from charitable activities
Unrestricted
funds
18 rnonths
ended
29 April
2022
Total
funds
18 months
ended
29 April
2022
Income from charitable actwib.es
727,085
727,085
Page 18

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
Income from charitable activities (continued)
Unrestricted
funds
Total
funds
31 October
2020
31 October
2020
Income from Charitsble actNities
1,709, 194
1,709,194
Investment income
Restricted Unrestricted
funds
funds
18 months
18 months
ended
ended
29 April
29 April
2022
2022
Total
funds
18 months
ended
29 April
2022
Income from unlisted investments
311
797
Restricted Unrestricted
fvnds
fvjnds
Total
funds
31 October
2020
31 October
2020
31 October
2020
Income from unlisted investments
171
26,4C
26,577
Page 19

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
Charitable activities
Choice
House
18 months
ended
29 April
2022
Choice
Court
18 months
ended
29 April
2022
Total
funds
18 months
ended
29 April
2022
Staff costs
Depreciab"on and loss on disposal
Direct charitable expenses
Share of support costs
Share of governance costs
758.932
35,214
191,565
231,693
28.427
22,487
16,560
1,514
9,627
781,419
51.774
193.079
241,320
28,427
1,245,831
50,188
1.296.019
Choice
Friendship
Club
Choi
House Choice Court
Total
funds
31 October 31 October
2020
2020
31 October
2020
31 October
2020
Staff costs
Depreciab"on and loss on disposal
Direct charitable expenses
Share of support costs
Share of governance costs
1,418,344
36,349
223,858
355,452
11,269
38,300
10,970
3,654
57,993
2,220
3,725
1,460,369
47,319
227,873
413,764
13,489
361
319
2,045,272
113,137
4,405
2,162,814
Allocation of support costs are based on actual expendrture incurred.
Page 20

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
Restricted Unrestricted
funds
funds
18 months
18 months
ended
ended
29 April
29 April
2022
2022
Total
funds
18 months
ended
29 April
2022
Staff costs
53,692
727,727
2,588,425
193,079
241,320
28,427
781,419
2.588.425
193.079
241,320
28,427
Depreciation and loss on disposal
Direct charitable expenses
Share of support costs
Share of governance costs
53,692
3,778,978
3.832.670
Restricted Unrestricted
funds
funds
Total
funds
31 October
2020
31 October
2020
31 October
2020
Staff costs
Depreciab"on and loss on disposal
Direct charitable expenses
Share of support costs
Share of governance eosts
76.505
1,383,867
47,319
222,840
412,238
13,489
1,460,372
47,319
227,873
513,091
13,489
5,033
100,853
182,391
2,079,753
2,262,144
Page 21

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
Support and governanee costs
Support
costs -
unrestricted Governance
funds
costs
18 months
18 months
ended
ended
29 April
29 April
2022
2022
Total
funds
18 months
ended
29 April
2022
Rates
Insurance
Light and heat
Repairs and maintenan
Postage and stationery
Telephone and fax
Motor expenses
Legal and professional
Sundry expenses
Accountancy and audit fees
18.601
54,830
58,327
65,671
2,545
6,313
376
4,208
30,449
18,601
54,830
58.327
65,671
2,545
6,313
376
4.208
30,449
28,427
28,427
241,320
28,427
269.747
Page 22

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
Support
costs-
unrestricted
funds
Support
eosts -
restricted Governance
funds
costs
Total
funds
31 October 31 October
2020
2020
31 October
2020
31 October
2020
Rates
Insuran
Light and heat
Repairs and maintenan
Postage and stationery
Telephone and fax
Motor expenses
Legal and professional
Sundry expenses
Accountancy and audit fees
20,775
43,463
86,795
210,722
5.375
16,968
3,707
26,243
{1,8101
20,775
43,463
86,855
310,052
5,375
16,968
3,802
26,243
14421
13,489
60
99,330
95
1,368
13,489
412,238
100,853
13,489
526,580
Other incoming resources
Unrestricted
funds
18 months
ended
29 April
2022
Total
funds
18 months
ended
29 April 31 October
2022
2020
Total
funds
Other income
42,228
42.228
Independent examinerfs remuneration
18 months
ended
29 April 31 October
2022
2020
Fees payable to the tharitable companvs independent examiner
13,869
13,489
Page 23

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
10. Staff costs
18 months
ended
29 April 31 October
2022
2020
Wages and salaries
Social security costs
Contribution lo defined (x)ntribution pension schemes
721.876
43,514
16,029
1,351,564
80,510
28,295
781.419
1,460,369
During the period the chanty incurred redundancy costs of £177,408, included within wages and salaries,
due to the closure of the care home, the warden assisted accommodation units and the day ￿ntre.
There is no remaining liability at the period end.
The average number of persons employed by the charilable company during the period was as follows..
18 months
ended
29 April 31 October
2022
2020
No.
No.
Full-time
Part-time
45
16
11
19
61
No employee received remunerakn.on arnounb.ng tr) more than £60,000 in the period.
The aggregate compensats.on of key management personnel for the period was £63,57312020'. £84,295).
11.
Trustees. remuneration and expenses
During the period, no Trustees received any remunerakn.on or other benefits12020- £NILI.
During the period ended 29 April 2022, no Trustee expenses have been incurred12020 - £NIll.
During the period, the charty paid £Nil12020 '. £1,909) for Insuran￿ to indemnify the trustees against the
consequences of any alleged or actual wrongftjl acts in their capacity as trustees.
Page 24

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
12. Tangible fixed assets
Land and
buildings
Molor Fixtures and
vehicles
fittings
Total
Cost
At 1 November 2020
2.671.581
42.857
142.8571
149,226
1149,2261
2.863,664
1192,0831
Disposals
At 29 April 2022
2,671,581
2,671,581
Depreclatlon
At 1 November 2020
On disposals
Impairment charge
134,929
42,856
142.8561
84,333
{84.3331
262,118
1127,1891
2.536.651
2.536.651
At 29 April 2022
2.671.580
2.671.580
Net l)ook value
At 29 April 2022
At 31 October 2020
2.536,652
64,893
2,601,546
Page 25

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
13.
Fixed asset investrnents
Unlisted
investments
Market value
At 1 November 2020
866,399
1395.0001
189,416
Disposals
Revaluations
At 29 April 2022
660,815
Net book value
At 29 April 2022
660,815
At 31 October 2020
866,399
The charity invests in a pcx)led fvnd which itself invests in lisled investments and propety.
14. Debtors
29 April 31 October
2022
2020
Due wthin one year
Trade debtors
Other debtors
Prepayments and accrued income
10.931
28,839
21,197
1,789
5,771
16,702
51,825
Page 26

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
15.
Creditors: Amounts falling due within one year
29 April 31 October
2022
2020
Trade creditors
Other tsxalion and social security
Other creditors
Accruals and deferred income
13,961
18,485
259,972
85,607
22.500
22.500
378,025
Page 27

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
16. Statement of funds
Statement of funds - current period
Balance at 1
November
2020
Balance at
29 April
2022
Transfers
inlout
Gainsl
{Lossesl
Income Expenditure
Unrestricted
funds
General Funds-
all funds
3,521,200
796,123 11,242,327)
4,233 12,347,235)
731,994
Restricted
funds
Restricted Funds
all funds
3.922
54.003
153.692)
14.233}
Totsl offunds
3,525.122
850.126 11,296.0191
12,347.2351
731,994
Statement of funds - prior period
Balance at
1 November
2019
BalanTr at
Gainsl 31 October
(Losses)
2020
Income Expenditure
Unrestricted funds
General Funds- 811 funds
3.792.416
1.797.361
{1.980.4231
188, 1541 3,521,200
Restricted funds
Restricted Funds- all funds
104.096
82,217
1182,3911
3,922
Total of funds
3,896,512
1,879,578 {2,162,8141
188,1541 3,525,122
Page 28

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
17.
Restricted funds
Funds
brought
forwanl
Total
funds
Incoming
resources
Outgoing
resources
1 November
2020
29 April
2022
Hackney St John Dr Pacificos Amshouse
Coronavirus Job Retention sche￿
Brent Care Home Grant
3,922
311
14,2331
115,4261
138,2661
15,426
38,266
3,922
54,003
157,9251
In the opinion of the Board of Trustees. there are no reslricled fvnds lo be carried forward as al 29 April
2022.
Restricted
funds
Total
funds
31 October
2020
31 October
2020
Hackney St John Dr Pacificos Almshouse
3,922
3,922
18.
Summary offunds
Summary of funds - current period
Balance at 1
November
2020
Balance at
29 April
2022
Transfers
inlout
Gainsl
{Losse$l
Income Expenditure
General funds
Reslricled funds
3.521.200
3.922
796.123 11.242.327)
54.003
153.692)
4.233 12.347.235)
14.233}
731.994
3.525.122
850.126
11.296.019)
12.347.235)
731,994
Page 29

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
18. Summary offunds Itontinuedl
Summary offunds- prior period
Balance at
1 November
2019
Balance at
Gainsl 31 October
(Losses)
2020
Income Expenditure
General funds
Reslricled funds
3,792,416
104,096
1,797,361
82,217
{1,980,4231
1182,3911
188,1541 3,521,200
3,922
3.896.512
1.879.578 {2. 162.8141
188, 1541 3,525,122
19. Analysis of net assets between funds
Anatysis of net assets between funds - current period
Unrestricted
funds
29 April
2022
Total
funds
29 April
2022
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
660,815
93,678
122,5001
660.815
93,678
{22,5001
Total
731,994
731.994
Anatysls of net assets between fvnds - prlor period
Restricted Unrestricted
funds
funds
31 October
31 October
2020
2020
Total
funds
31 October
2020
Tangible fixed assets
Fixed asset investments
3,922
2,597,624
866,399
435,202
{378,0251
2,601,546
866,399
435,202
1378,0251
Current assets
Creditors due within one year
Total
3,922
3,521,200
3,525,122
Page 30

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
20.
Reconeiliation of net movement in funds to net eash flow from operating activities
18 months
ended
29 April 31 October
2022
2020
Nel expenditure for the period las per Ststement of Financial Activitses)
{256.4771
1371,3901
Adjustments for:
Depreciation charges
Decrease in debtors
IDecreasellincrease in creditors
Investment income recognised in statement of financial activities
Fair value Igainsl and10sses on investments
Loss on disposal
47,319
35,100
40,668
126,4061
88,154
35.123
{355.5251
{189,4161
51.774
Net cash used in operating activities
{714.5211
1186,5551
21. Anatysls of eash and cash equlvalents
29 April 31 October
2022
2020
Cash in hand
76.976
383,377
22. Analysis of changes in nel debt
At1
November
2020 Cash flows
At 29 April
2022
Cash at bank and in hand
383.377
{306.4011
76,976
Page 31

Docusign Envelope ID.. BBC4360B-135E4774-AEA&B1C3C48DDZCC
THE SPANISH AND PORTUGUESE JEWS HOME FOR THE AGED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2022
23.
Operating lease eornmitments
At 29 April 2022 the charitable Company had Commitments to make future minimum lease payments
under non￿nCelIable operating leases as follows".
29 April 31 October
2022
2020
Not later than 1 year
4,534
24.
Membets. liability
Each member of the Charitable eompany undertakes to contribute to the assets of the eompany in the
event of it being wound up whilst they are a rnember, or within one year after they ce8se to be a member,
such amount as may be required, not exceeding £10 foi the debts and liabilities contracted before they
cease to be a member.
25. Related party transactions
Except for the disclosures in notes 10 and 11, the Charity has not entered into any further related paty
transactions during the period, nor are there any outstsnding balances owing between related parties and
the Charity at 29 April 2022.
Page 32