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2021-04-30-accounts

REGISTERED COMPANY NUMBER: 10139294 (England and Wales) REGISTERED CHARITY NUMBER: 1167950

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021

FOR SANBRI LTD

Venitt and Greaves Statutory Auditors Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL

SANBRI LTD

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021

Page
Report of the Trustees 1 to 2
Statement of Trustees' Responsibilities 3
Report of the Independent Auditors 4 to 7
Statement of Financial Activities 8
Statement of Financial Position 9
Statement of Cash Flows 10
Notes to the Statement of Cash Flows 11
Notes to the Financial Statements 12 to 18

SANBRI LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 April 2021. 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

Objectives and aims

The principal activities of the charitable company in the year under review were that of the advancement of education and religious practice in accordance with the teachings of the Orthodox Jewish faith the relief of poverty and disability.

Significant activities

The charity was set up to support the activities of religious Jewish organizations especially in the field of education. This activity was undertaken for public benefit to further the charity's objectives.

Public benefit

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aim and objectives and in planning the charity's future activities and setting the grant making policy for the year. The aims of the charitable company for the public benefit are detailed in the Objectives and Activities section of the report.

Grantmaking

Grants are made at the discretion of the trustees and in accordance with the principal objectives of the charitable company.

STRATEGIC REPORT

Achievement and performance

Charitable activities

During the year charity paid out donation of £680,000 (2020- £100,000) to Amabrill Ltd.

Investment performance

The charity's rental income of £708,835 (2020- £621,238) reflects the rental income received from investment properties held by the charity. The associated expenses of managing the investment properties are reflected in note 3.

The charity also received bank interest of £58,905 (2020-£186,601) during the year.

Financial review

Investment policy and objectives

The company's memorandum and articles of association, which permit the company's funds to be invested in securities or properties of any kind and situated anywhere in the world, control the trustees' investment powers.

The trustees will consider suitable investments as and when they arise.

Reserves policy

The reserves policy is to ensure that there is a sufficient stream of income to meet the ongoing calls made on the charity including the possibility of providing capital assets for the needs of charitable institutions.

Going concern

The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.

Future plans

The Trustees plan to continue to make distributions in accordance with their grant making policy and to ensure that an appropriate level of reserves is maintained.

Page 1

SANBRI LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, its memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.

Related parties

Details of transactions with related parties are disclosed in the notes to the financial statements.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The charity has no significant liquidity or credit risk.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

10139294 (England and Wales)

Registered Charity number

1167950

Registered office

115 Craven Park Road London N15 6BL

Trustees

I Grossnass Director Mrs F R Lerner Director C Lerner Director I M Lerner

Auditors

Venitt and Greaves Statutory Auditors Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL

AUDITORS

The auditors, Venitt and Greaves, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 9 May 2022 and signed on the board's behalf by:

C Lerner - Trustee

Page 2

SANBRI LTD

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 30 APRIL 2021

The trustees (who are also the directors of Sanbri Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"

Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Page 3

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SANBRI LTD

Opinion

We have audited the financial statements of Sanbri Ltd (the 'charitable company') for the year ended 30 April 2021 which comprise the Statement of Financial Activities, the Statement of Financial Position, the 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 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's 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 charitable company'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 trustees 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 Report of the Independent Auditors 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Page 4

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SANBRI LTD

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) 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 the trustees 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 charitable company'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 charitable company or to cease operations, or have no realistic alternative but to do so.

Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SANBRI LTD

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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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 is detailed below:

charity through discussion with the trustees and identified financial reporting legislation and charity legislation as being most significant to these financial statements.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SANBRI LTD

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

M A Venitt, ACA (Senior Statutory Auditor) for and on behalf of Venitt and Greaves Statutory Auditors Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL

9 May 2022

Page 7

SANBRI LTD

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 APRIL 2021

Notes
INCOME AND ENDOWMENTS FROM
Investment income
3
EXPENDITURE ON
Raising funds
4
Charitable activities
5
Educational Grants
Disability
Other
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 30.4.21
Unrestricted
fund
£
767,740
213,418
680,000
-
5,024
898,442
(130,702)
4,280,651
4,149,949		 30.4.20
Total
funds
£
807,839
293,608
100,000
500
4,539
398,647
409,192
3,871,459
4,280,651

The notes form part of these financial statements

Page 8

SANBRI LTD

STATEMENT OF FINANCIAL POSITION 30 APRIL 2021

Notes
FIXED ASSETS
Investment property
11
CURRENT ASSETS
Debtors
12
Investments
13
Cash at bank
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
15
Unrestricted funds
TOTAL FUNDS		 30.4.21
Unrestricted
fund
£
9,107,028
1,467,735
318,819
19,420,431
21,206,985
(26,164,064 )
(4,957,079 )
4,149,949
4,149,949
4,149,949
4,149,949		 30.4.20
Total
funds
£
7,237,072
1,790,764
318,819
21,067,419
23,177,002
(26,133,423 )
(2,956,421 )
4,280,651
4,280,651
4,280,651
4,280,651

The financial statements were approved for issue by the Board of Trustees and authorised for issue on 9 May 2022 and were signed on its behalf by:

C Lerner - Trustee

F R Lerner - Trustee

The notes form part of these financial statements

Page 9

SANBRI LTD

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 APRIL 2021

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of investment property
Sale of intangible fixed assets
Interest received
Net cash (used in)/provided by investing activities
Cash flows from financing activities
Loan repayments in year
Net cash provided by/(used in) financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 30.4.21
£
164,063
164,063
(1,869,956 )
-
58,905
(1,811,051 )
-
-
(1,646,988 )
21,067,419
19,420,431		 30.4.20
£
1,924,709
1,924,709
-
248,734
186,601
435,335
(9,102,831 )
(9,102,831 )
(6,742,787 )
27,810,206
21,067,419

The notes form part of these financial statements

Page 10

SANBRI LTD

NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 APRIL 2021

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

OPERATING ACTIVITIES
Net (expenditure)/income for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Interest received
Decrease in debtors
Increase in creditors
Net cash provided by operations		 30.4.21
£
(130,702)
(58,905)
323,029
30,641
164,063		 30.4.20
£
409,192
(186,601)
1,700,141
1,977
1,924,709

2.

ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank
Liquid resources
Deposits included in cash
Current asset investments
Total		 At 1.5.20
£
21,067,419
21,067,419
-
318,819
318,819
21,386,238		 Cash flow
£
(1,646,988 )
(1,646,988 )
-
-
-
(1,646,988 )		 At 30.4.21
£
19,420,431
19,420,431
-
318,819
318,819
19,739,250

The notes form part of these financial statements

Page 11

SANBRI LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has 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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Governance costs

Governance cost comprise all costs involving the public accountability of the charity and its compliance with regulation of good practice. The cost include costs related to statutory audit and direct governing cost.

Investment property

There is no significant changes in the market value of properties.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Financial instruments

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously

continued...

Page 12

SANBRI LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2021

2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.

The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.

Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. INVESTMENT INCOME

Rents received
Deposit account interest		 30.4.21
£
708,835
58,905
767,740		 30.4.20
£
621,238
186,601
807,839

4. RAISING FUNDS

Investment management costs

Insurance
Light and heat
Repair and maintenance
Management commission
Letting fees
Rates
Legal and professional fees
Service charges
Loan interest
Travel		 30.4.21
£
7,514
6,528
109,285
44,969
8,081
2,422
19,596
14,247
-
776
213,418		 30.4.20
£
6,345
344
121,517
54,191
5,904
4,421
22,188
18,114
36,304
24,280
293,608

5. CHARITABLE ACTIVITIES COSTS

Educational Grants

Grant funding of activities (see note 6) £ 680,000

continued...

Page 13

SANBRI LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2021

6. GRANTS PAYABLE

Educational Grants
Disability		 30.4.21
£
680,000
-
680,000		 30.4.20
£
100,000
500
100,500

Educational grant was made to Amabrill Ltd, a charitable company which has common directors.

7. SUPPORT COSTS

Governance
Finance costs Totals
£ £ £
Other resources expended 224 4,800 5,024
8. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
30.4.21 30.4.20
£ £
Auditors' remuneration 4,800 4,440

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 April 2021 nor for the year ended 30 April 2020.

Trustees' expenses

During the year charity has paid following travelling expenses to trustees to monitor the progress of the investment in Israel:

Mr C Lerner £ 776
10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Investment income
EXPENDITURE ON
Raising funds
Charitable activities
Educational Grants
Disability
Other
Total		 Unrestricted
fund
£
807,839
293,608
100,000
500
4,539
398,647

continued...

Page 14

SANBRI LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2021

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
11.
INVESTMENT PROPERTY
FAIR VALUE
At 1 May 2020
Additions
At 30 April 2021
NET BOOK VALUE
At 30 April 2021
At 30 April 2020
Trustees confirmed that there is no significant changes in the market value of properties.
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.21
£
Trade debtors
10,650
Amounts owed by group undertakings
1,152,516
Other debtors
304,569
1,467,735
13.
CURRENT ASSET INVESTMENTS
30.4.21
£
Unlisted investments
318,819		 Unrestricted
fund
£
409,192
3,871,459
4,280,651
£
7,237,072
1,869,956
9,107,028
9,107,028
7,237,072
30.4.20
£
17,053
1,152,516
621,195
1,790,764
30.4.20
£
318,819

Current asset investments represent, a joint venture investment with BHD Properties Investment Limited where charity will receive 49.9% of the net profit.

Page 15

continued...

SANBRI LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2021

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
VAT
Other creditors
Loan creditor
Accrued expenses		 30.4.21
£
68,549
31,436
50,939
26,000,000
13,140
26,164,064		 30.4.20
£
57,549
7,895
50,939
26,000,000
17,040
26,133,423

Loan creditor represents loan received from Amabrill Ltd, a charitable company which has common directors.

Other creditor represents loan received from Creston Ltd a company which is owned by Mr C & Mrs F R Lerner.

15. MOVEMENT IN FUNDS

Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS		 At 1.5.20
£
4,280,651
4,280,651
Incoming
resources
£
767,740
767,740
At 1.5.19
£
3,871,459
3,871,459		 Net
movement
in funds
£
(130,702)
(130,702)
Resources
expended
£
(898,442)
(898,442)
Net
movement
in funds
£
409,192
409,192		 At
30.4.21
£
4,149,949
4,149,949
Movement
in funds
£
(130,702)
(130,702)
At
30.4.20
£
4,280,651
4,280,651

Page 16

continued...

SANBRI LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2021

15. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
807,839
807,839		 Resources
Movement
expended
in funds
£
£
(398,647)
409,192
(398,647)
409,192		 Resources
Movement
expended
in funds
£
£
(398,647)
409,192
(398,647)
409,192
409,192

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.5.19
£
3,871,459
3,871,459		 Net
movement
in funds
£
278,490
278,490		 At
30.4.21
£
4,149,949
4,149,949

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 1,575,579 (1,297,089 ) 278,490
TOTAL FUNDS 1,575,579 (1,297,089 ) 278,490

16. RELATED PARTY DISCLOSURES

During the year the charity made a donation of £680,000 (2020- £100,000) to Amabrill Ltd, a charitable company which has common directors.

During the year the charity paid management fees of £12,000(2020 - £12,000) to Farcastle Ltd which has common directors.

The loan creditor in the sum of £26,000,000 (2020- £26,000,000) represents a loan due to Amabrill Ltd, a charitable company which has common directors.

The other creditor in the sum of £50,939 (2020- £50,939) represents a loan due to Creston Ltd a company which is controlled by Mr C & Mrs F R Lerner.

Included in other debtors are the following amounts that are due from companies associated with the directors or their family members:

Farcastle Ltd 0 (2020- £80,000) Mr C, Mrs F R Lerner & Mr I M Lerner Eger Properties Ltd 0(2020- £30,000) Mr C,Mrs F R Lerner & Mr I M Lerner

continued...

Page 17

SANBRI LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2021

16. RELATED PARTY DISCLOSURES - continued

Ranbrook Ltd 0(2020- £25,000) Mr C & Mrs F R Lerner's daughter & son in law Storrmfast Trading Ltd 0(2020- £175,000) Mr C & Mrs F R Lerner's daughter & son in law

The charity owns 25% of the share capital of Bayit Yerushalmi Sheli. a company registered in Israel. The amounts owed by group undertakings represent the loan to Bayit Yerushalmi Sheli.

17. RESPONSE TO COVID -19

The Trustees have closely monitored the Government guidance in response to the Covid-19 Pandemic and have implemented measures in line with Governmental guidelines. The Trustees have assessed the impact of Covid 19 on the entity and conclude that there are no items resulting from the Covid-19 Pandemic which require disclosure beyond those that have been disclosed elsewhere in the accounts.

Page 18