CHARITY REGISTRATION NUMBER: 1181160
Y.M.E.R CIO
Unaudited Financial Statements
31 March 2023
WHITESIDE AND DAVIES LTD
Chartered Certified Accountants 158 Cromwell Road Salford M6 6DE
Y.M.E.R CIO
Financial Statements
Year ended 31 March 2023
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
Y.M.E.R CIO
Trustees' Annual Report
Year ended 31 March 2023
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2023.
Reference and administrative details
| Registered charity name | Y.M.E.R CIO |
|---|---|
| Charity registration number | 1181160 |
| Principal office | 189 Golders Green Road |
| London | |
| NW11 9BY | |
| The trustees | |
| Mr P Neiman | |
| Mr J J Shapiro | |
| Rabbi Yehuda Halpern | |
| Independent examiner | Ian Graff FCCA |
| 158 Cromwell Road | |
| Salford | |
| M6 6DE |
Structure, governance and management
Y.M.ER. CIO is constituted under a Foundation dated 1 August 2018. It is a registered charity with a charity number being 1181160. Recruitment and appointment of new trustees would be in line with the Trust Deed and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
There is no chief executive officer. The day-to-day affairs are undertaken by Rabbi Yehuda Halpern on behalf of the trustees. All major decisions are taken collectively by the trustees and all the trustees give of their time freely. The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts. The arrangements for setting the pay of the charity's employees are the sole domain of the trustees.
The charity has established its grant making policy to achieve its objects for the public benefit. The charity invites applications for funding through contacting local philanthropists to contribute towards projects that both the trustees and the philanthropists feel are appropriate for the charity's objects. The policy is to assist in the furtherance of Jewish education and religion, relieve poverty, and to alleviate hardship wherever possible. Each application and request are considered on its own merit. The application of the funds by way of grants is to either institutions or individuals. The trustees consider they have met the public benefit test and outline these achievements below. The trustees measure the success of achieving the stated aims by the number and value of grants paid out for each object. The grants paid out in the year are detailed in the notes to the accounts and the trustees consider they have met their aims successfully this year.
1
Y.M.E.R CIO
Trustees' Annual Report (continued)
Year ended 31 March 2023
Structure, governance and management (continued)
Appointment of charity trustees
(1) Apart from the first charity trustees, every trustee must be appointed by a resolution passed at a properly convened meeting of the charity trustees. (2) In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.
Objectives and activities
- The advancement of the orthodox Jewish faith in particular but not exclusively by making grants to individuals and/or religious educational institutions who/which further the advancement of the orthodox Jewish faith: - i. By educating young people in their religious obligations and thus enabling them to fulfil their religious duties and/or ii. By providing courses and other training to lead to rabbinical diplomas, teacher qualifications and other religious leaders and in particular but not exclusively to the schools known as Pardes House and Torah Vodaas in NW London and the Institute of Advanced Religious Studies in Jerusalem, Israel known as Yeshivath Maharash Engel Radomishl. 2. The relief of poverty by providing grants to individuals in need and/or charities, or other organisations working to prevent or relieve poverty and in particular but not exclusively for needy orphans and widows living in NW London and Israel
Achievements and performance
I am pleased to present the annual trustee report for YMER CIO, covering the period from 1st April 2022 to 31 March 2023. As trustees, we are committed to transparency and accountability, and we aim to provide you with an overview of the financial activities and achievements during the past year.
During the year, YMER CIO received a total of £311,168 in donations. This marks a significant increase from the previous year when the charity received £86,595 in donations. We are grateful for the generosity of our donors, and these funds have played a crucial role in supporting our mission to alleviate poverty.
Our investment portfolio yielded £179,422 in income during the current year, demonstrating a positive growth trend compared to the previous year's investment income of £125,924. The prudent management of our investments ensures the sustainability of our initiatives and the ability to make a lasting impact in the lives of those in need.
The heart of YMER CIO's mission lies in providing grants for the relief of poverty. Through careful consideration and due diligence, we allocated funds to a variety of projects and programs that address the root causes of poverty and strive to create sustainable, positive change.
There were minimal fundraising costs incurred during the year.
There were no related party transactions in the reporting period.
There was a net surplus in funds during the year amounting to £212,770 (2022 - £45,477)
2
Y.M.E.R CIO
Trustees' Annual Report (continued)
Year ended 31 March 2023
Financial review
The trustees feel that the activity reflects the profile and standing within the local community. Overall, the year was a good one in terms of income generated from donations and grants paid out. On behalf of YMER CIO, we extend our heartfelt gratitude to all our donors and supporters. Your commitment to our cause empowers us to make a meaningful impact on the lives of individuals and communities facing the harsh realities of poverty.
Plans for future periods
The trustees plan to continue raising funds for projects in line with the trust deed and pursue those objectives and projects with all the resources available to the charity.
The trustees' annual report was approved on 16 January 2024 and signed on behalf of the board of trustees by:
Rabbi Yehuda Halpern Trustee
3
Y.M.E.R CIO
Independent Examiner's Report to the Trustees of Y.M.E.R CIO
Year ended 31 March 2023
I report to the trustees on my examination of the financial statements of Y.M.E.R CIO ('the charity') for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Ian Graff FCCA Independent Examiner
158 Cromwell Road Salford M6 6DE
4
Y.M.E.R CIO
Statement of Financial Activities
Year ended 31 March 2023
| 2023 | 2023 | 2022 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 311,168 | 311,168 | 86,595 |
| Other trading activities | 5 | – | – | 2,550 |
| Investment income | 6 | 179,422 | 179,422 | 125,924 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 490,590 | 490,590 | 215,069 | |
| ================================ | ================================ | ================================ | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Investment management costs | 7 | 108,186 | 108,186 | 69,642 |
| Expenditure on charitable activities | 8,9 | 169,634 | 169,634 | 99,950 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 277,820 | 277,820 | 169,592 | |
| ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income and net movement in funds | 212,770 | 212,770 | 45,477 | |
| ================================ | ================================ | ================================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 1,681,133 | 1,681,133 | 1,635,656 | |
| ----------------------------------------- | ----------------------------------------- | ----------------------------------------- | ||
| Total funds carried forward | 1,893,903 | 1,893,903 | 1,681,133 | |
| ========================================= | ========================================= | ========================================= |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 14 form part of these financial statements.
5
Y.M.E.R CIO
Statement of Financial Position
31 March 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Investments | 15 | 2,636,694 | 2,634,444 |
| Current assets | |||
| Debtors | 16 | 942 | 199 |
| Cash at bank and in hand | 98,795 | 40,832 | |
| ---------------------------- | ---------------------------- | ||
| 99,737 | 41,031 | ||
| Creditors: amounts falling due within one year | 17 | 2,200 | 2,200 |
| ---------------------------- | ---------------------------- | ||
| Net current assets | 97,537 | 38,831 | |
| ----------------------------------------- | ----------------------------------------- | ||
| Total assets less current liabilities | 2,734,231 | 2,673,275 | |
| Creditors: amounts falling due after more than one year | 18 | 840,328 | 992,142 |
| ----------------------------------------- | ----------------------------------------- | ||
| Net assets | 1,893,903 | 1,681,133 | |
| ========================================= | ========================================= | ||
| Funds of the charity | |||
| Unrestricted funds | 1,893,903 | 1,681,133 | |
| ----------------------------------------- | ----------------------------------------- | ||
| Total charity funds | 19 | 1,893,903 | 1,681,133 |
| ========================================= | ========================================= |
These financial statements were approved by the board of trustees and authorised for issue on 16 January 2024, and are signed on behalf of the board by:
Rabbi Yehuda Halpern Trustee
The notes on pages 7 to 14 form part of these financial statements.
6
Y.M.E.R CIO
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 189 GOLDERS GREEN ROAD, LONDON, NW11 9BY.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
7
Y.M.E.R CIO
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
8
Y.M.E.R CIO
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in income or expenditure.
If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
9
Y.M.E.R CIO
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Impairment of fixed assets (continued)
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
10
Y.M.E.R CIO
Notes to the Financial Statements (continued)
Year ended 31 March 2023
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 311,168 | 311,168 | 86,595 | 86,595 | |
| ================================ | ================================ | ============================ | ============================ | ||
| 5. | Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Other income | – | – | 2,550 | 2,550 | |
| ============== | ============== | ======================= | ======================= | ||
| 6. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Income from investment properties | 163,796 | 163,796 | 108,962 | 108,962 | |
| Income from other investments | 15,626 | 15,626 | 16,962 | 16,962 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| 179,422 | 179,422 | 125,924 | 125,924 | ||
| ================================ | ================================ | ================================ | ================================ | ||
| 7. | Investment management costs | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Portfolio management | 17,472 | 17,472 | 10,761 | 10,761 | |
| Property repairs and maintenance | |||||
| charges | 18,023 | 18,023 | 4,717 | 4,717 | |
| Insurance | 2,184 | 2,184 | 2,024 | 2,024 | |
| Legal and professional | 1,420 | 1,420 | 27,524 | 27,524 | |
| Ground rent | 200 | 200 | 1,173 | 1,173 | |
| Mortgage interest | 64,225 | 64,225 | 21,845 | 21,845 | |
| Light and Heat | 4,662 | 4,662 | 1,598 | 1,598 | |
| -------------------------------- | -------------------------------- | ---------------------------- | ---------------------------- | ||
| 108,186 | 108,186 | 69,642 | 69,642 | ||
| ================================ | ================================ | ============================ | ============================ | ||
| 8. | Expenditure on charitable activities | by fund type | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Grants and donations given | 166,459 | 166,459 | 96,334 | 96,334 | |
| Support costs | 3,175 | 3,175 | 3,616 | 3,616 | |
| -------------------------------- | -------------------------------- | ---------------------------- | ---------------------------- | ||
| 169,634 | 169,634 | 99,950 | 99,950 | ||
| ================================ | ================================ | ============================ | ============================ |
11
Y.M.E.R CIO
Notes to the Financial Statements (continued)
Year ended 31 March 2023
9. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Grant funding |
Support | Total funds | Total fund | |
| directly | of activities |
costs | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Grants and donations | |||||
| given | 15 | 166,444 |
15 | 166,474 | 96,340 |
| Governance costs | – | – |
3,160 | 3,160 | 3,610 |
| -------------- | -------------------------------- | ----------------------- | -------------------------------- | ---------------------------- | |
| 15 | 166,444 |
3,175 | 169,634 | 99,950 | |
| ============== | ================================ | ======================= | ================================ | ============================ |
10. Analysis of support costs
| Analysis of | ||||
|---|---|---|---|---|
| support costs | Total 2023 | Total 2022 | ||
| £ | £ | £ | ||
| Finance costs | 15 | 15 | – | |
| Governance costs | 3,160 | 3,160 | 3,610 | |
| ----------------------- | ----------------------- | ----------------------- | ||
| 3,175 | 3,175 | 3,610 | ||
| ======================= | ======================= | ======================= | ||
| 11. | Analysis of grants | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Grants to institutions | ||||
| Beer Shmuel Ltd | 4,120 | 960 | ||
| Chevras Mooz Ladol | 5,210 | 13,110 | ||
| Friends of Seret Vinizt | 1,000 | – | ||
| North London Welfare | 3,000 | – | ||
| Tomchei Yotzei Anglia | 5,000 | – | ||
| Below £1000 | 3,151 | 963 | ||
| American Friends of YM | – | 1,672 | ||
| Chesed Charity Trust | – | 4,000 | ||
| Friends of Sanz Institutions | – | 1,436 | ||
| Kolel Grocery | – | 1,300 | ||
| ---------------------------- | ---------------------------- | |||
| 21,481 | 23,441 | |||
| Grants to individuals | ||||
| Relief of poverty | 144,963 | 72,642 | ||
| -------------------------------- | ---------------------------- | |||
| Total grants | 166,444 | 96,083 | ||
| ================================ | ============================ | |||
| 12. | Independent examination fees | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial statements | 2,200 | 2,200 | ||
| Other assurance services | 960 | 1,410 | ||
| ----------------------- | ----------------------- | |||
| 3,160 | 3,610 | |||
| ======================= | ======================= |
12
Y.M.E.R CIO
Notes to the Financial Statements (continued)
Year ended 31 March 2023
13. Staff costs
The average head count of employees during the year was Nil (2022: Nil).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
14. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
15. Investments
| Investment | Other | ||
|---|---|---|---|
| properties | investments | Total | |
| £ | £ | £ | |
| Cost or valuation | |||
| At 1 April 2022 | 2,473,561 | 160,883 | 2,634,444 |
| Additions | – | 2,250 | 2,250 |
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | |
| At 31 March 2023 | 2,473,561 | 163,133 | 2,636,694 |
| ========================================= | ================================ | ========================================= | |
| Carrying amount | |||
| At 31 March 2023 | 2,473,561 | 163,133 | 2,636,694 |
| ========================================= | ================================ | ========================================= | |
| At 31 March 2022 | 2,473,561 | 160,883 | 2,634,444 |
| ========================================= | ================================ | ========================================= |
All investments shown above are held at valuation.
Investment properties
All investments shown above are held at valuation.
16. Debtors
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Prepayments and accrued income | 942 | 199 | |
| ============== | ============== | ||
| 17. | Creditors: amounts falling due within one year | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Accruals and deferred income | 2,200 | 2,200 | |
| ======================= | ======================= | ||
| 18. | Creditors: amounts falling due after more than one year | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Bank loans and overdrafts | 840,328 | 992,142 | |
| ================================ | ================================ |
13
Y.M.E.R CIO
Notes to the Financial Statements (continued)
Year ended 31 March 2023
19. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | At | |||||
| 1 | April 2022 | Income | Expenditure | 31 | March 23 | |
| £ | £ | £ | £ | |||
| General funds | 1,681,133 | 490,590 | (277,820) | 1,893,903 |
||
| ========================================= | ================================ | ================================ | ========================================= | |||
| At | At | |||||
| 1 | April 2021 | Income | Expenditure | 31 | March 22 | |
| £ | £ | £ | £ | |||
| General funds | 1,635,656 | 215,069 | (169,592) | 1,681,133 |
||
| ========================================= | ================================ | ================================ | ========================================= |
20. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2023 | |
| £ | £ | |
| Tangible fixed assets | 2,636,694 | 2,636,694 |
| Current assets | 99,737 | 99,737 |
| Creditors less than 1 year | (2,200) | (2,200) |
| Creditors greater than 1 year | (840,328) | (840,328) |
| ----------------------------------------- | ----------------------------------------- | |
| Net assets | 1,893,903 | 1,893,903 |
| ========================================= | ========================================= | |
| Unrestricted | Total Funds | |
| Funds | 2022 | |
| £ | £ | |
| Tangible fixed assets | 2,634,444 | 2,634,444 |
| Current assets | 41,031 | 41,031 |
| Creditors less than 1 year | (2,200) | (2,200) |
| Creditors greater than 1 year | (992,142) | (992,142) |
| ----------------------------------------- | ----------------------------------------- | |
| Net assets | 1,681,133 | 1,681,133 |
| ========================================= | ========================================= |
14