## 

## 



## 

## 



## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 



## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

||||Unrestricted|Unrestricted|funds|||
|---|---|---|---|---|---|---|---|
||||General||Designated|2021|2020|
|||Notes|funds||funds|Total|Total|
|Income||||||E||
|Investment<br>income||||||||
|- Rental income||2|9,322,877|||9,322,877|10,146,215|
|- Dilapidations|||517,500|||517,500|18,765|
|- Bank interest|||5,653|||5,653|28,187|
|- Investment<br>interest|||211|||211|4,794|
|- Dividends|||72,690|||72,690|88,609|
|Total income|||9,918,931|||9,918,931|10,286,570|
|Expenditure||||||||
|Costs ofraising funds||3|1,203,496|||1,203,496|1,464,637|
|Charitable<br>activities||4|5,903,928|||5,903,928|6,695,136|
|Total expenditure|||7,107,424|||7,107,424|8,159,773|
|Net income before gains/(losses)||on investments|2,811,507|||2,811,507|2,126,797|
|Net gains and losses|on investments|||||||
|Realised gain/(loss)<br>on|revaluation|||||||
|- Investments|||521,147|||521,147|(16,179)|
|- Investment<br>properties|||(3,000,000)|||(3,000,000)||
|Unrealised<br>gain/(loss)<br>on revaluation||||||||
|- Investment<br>properties||6a|||(5,009,607)|(5,009,607)|(3,930,900)|
|- Investments||7|||2,199,050|2,199,050|(387,098)|
|Other gains/(losses)|||(4,043)|||(4,043)||
|Net income/(expenditure)|||328,611||(2,810,557)|(2,481,946)|(2,207,380)|
|Transfers<br>between<br>funds|||18,980,513|(18,980,513)||||
|Net movement<br>in funds|||19,309,124|(21,791,070)||(2,481,946)|(2,207,380)|
|Reconciliation<br>offunds:||||||||
|Fund balances<br>brought|forward||7,742,202|212,818,997||220,561,199|222,768,579|
|Fund balances carried|forward||27,051,326|191,027,927||218,079,253|220,561,199|





## 

## 

## 

||||Unrestricted|Unrestricted|funds||
|---|---|---|---|---|---|---|
||||General||Designated|2020|
|||Notes|funds||funds|Total|
|Income||||||E|
|Investment<br>income|||||||
|- Rental income||2|10,146,215|||10,146,215|
|- Dilapidations|||18,765|||18,765|
|- Bank interest|||28,187|||28,187|
|- Investment<br>interest|||4,794|||4,794|
|- Dividends|||88,609|||88,609|
|Total income|||10,286,570|||10,286,570|
|Expenditure|||||||
|Costs ofraising funds||3|1,464,637|||1,464,637|
|Charitable<br>activities||4|6,695,136|||6,695,136|
|Total expenditure|||8,159,773|||8,159,773|
|Net income before gains/(losses)||on investments|2,126,797|||2,126,797|
|Net gains and losses|on investments||||||
|Realised loss on sale of|||||||
|- Investments|||(16,179)|||(16,179)|
|Unrealised<br>loss on revaluation|||||||
|- Investment<br>properties||6a|||(3,930,900)|(3,930,900)|
|- Investments||7|||(387,098)|(387,098)|
|Net income I(expenditure)|||2,110,618||(4,317,998)|(2,207,380)|
|Transfers<br>between<br>funds|||114,318||(114,318)||
|Net movement<br>in funds|||2,224,936||(4,432,316)|(2,207,380)|
|Reconciliation<br>offunds:|||||||
|Fund balances<br>brought|forward||5,517,266|217,251,313||222,768,579|
|Fund balances carried|forward||7,742,202|212,818,997||220,561,199|





## 

## 

## 

||||||Unrestricted|funds|||
|---|---|---|---|---|---|---|---|---|
||||||General|Designated|2021|2020|
|||||Notes|funds|funds|Total|Total|
|Income||||||E|E||
|Investment<br>income|||||||||
|- Bank interest|||||1,078||1,078|5,433|
|- Investment<br>interest|||||211||211|4,794|
|- Dividends|||||72,690||72,690|88,609|
||||||73,979||73,979|98,836|
|Income from charitable||activities|||||||
|Grants receivable<br>from|||||||||
|Benesco Charity<br>Limited|||||5,800,000||5,800,000|6,300,000|
|Total income|||||5,873,979||5,873,979|6,398,836|
|Expenditure|||||||||
|Costs ofraising funds||||3|58,921||58,921|60,912|
|Charitable<br>activities||||4|5,376,853||5,376,853|6,436,065|
|Total expenditure|||||5,435,774||5,435,774|6,496,977|
|Net income/(expenditure)||before gains|and|losses|438,205||438,205|(98,139)|
|Net gains and losses|on|investments|||||||
|Realised gain/(loss)<br>on|sale of||||||||
|Investments|||||521,146||521,146|(16,179)|
|Unrealised<br>gain/(loss)|on|revaluation|of||||||
|investments||||||2,199,050|2,199,050|(387,098)|
|Otherlosses|||||(4,043)||(4,043)||
|Net income/(expenditure)|||||955,308|2,199,050|3,154,358|(501,416)|
|Transfers<br>between<br>funds|||||(500,575)|500,575|||
|Net movement<br>in funds|||||454,733|3,154,358|3,154,358|(501,416)|
|Reconciliation<br>offunds:|||||||||
|Fund balances<br>brought|forward|||||8,415,520|8,415,520|8,916,936|
|Fund balances carried|forward||||454,733|11,115,145|11,569,878|8,415,520|





## 

||||||||Unrestricted|funds||
|---|---|---|---|---|---|---|---|---|---|
||||||||General|Designated|2020|
|||||||Notes|funds|funds|Total|
|Income||||||||E|E|
|Investment<br>income||||||||||
|- Bank interest|||||||5,433||5,433|
|- Investment<br>interest|||||||4,794||4,794|
|- Dividends|||||||88,609||88,609|
||||||||98,836||98,836|
|Income from charitable||||activities||||||
|Grants receivable||from||||||||
|Benesco Charity||Limited|||||6,300,000||6,300,000|
|Total income|||||||6,398,836||6,398,836|
|Expenditure||||||||||
|Costs ofraising funds||||||3|60,912||60,912|
|Charitable<br>activities||||||4|6,436,065||6,436,065|
|Total expenditure|||||||6,496,977||6,496,977|
|Net expenditure|before||gains||and losses||(98,139)||(98,139)|
|Net gains and|losses on|||investments||||||
|Realised loss on revaluation|||||of|||||
|Investments|||||||(16,179)||(16,179)|
|Unrealised<br>loss|on|revaluation|||of|||||
|investments||||||||(387,098)|(387,098)|
|Net expenditure|||||||(114,318)|(387,098)|(501,416)|
|Transfers<br>between<br>funds|||||||114,318|(114,318)||
|Net movement|in|funds||||||(501,416)|(501,416)|
|Reconciliation|of|funds:||||||||
|Fund balances|brought||forward|||||8,916,936|8,916,936|
|Fund balances|carried||forward|||||8,415,520|8,415,520|





## 

## 

## 

|||||Notes|2021|2020|
|---|---|---|---|---|---|---|
||||||F||
|Fixed assets|||||||
|Tangible assets||||7a|178,530,082|203,580,264|
|Investments:<br>Programme||related||8|1,382,700|1,382,700|
|Other||||8|11,115,145|8,556,391|
||||||191,027,927|213,519,355|
|Current assets|||||||
|Debtors|||||4,721,055|5,081,899|
|Cash at bank, including||deposits|||24,120,668|5,460,362|
||||||28,841,723|10,542,261|
|Creditors: amounts|falling||due within one year|10|(1,790,397)|(3,500,417)|
|Net current assets|||||27,051,326|7,041,844|
|Total assets less current|||liabilities||218,079,253|220,561,199|
|Net assets|||||218,079,253|220,561,199|
|Unrestricted<br>funds|||||||
|General funds||||11a|27,051,326|7,742,202|
|Designated<br>funds||||12a|191,027,927|212,818,997|
||||||218,079,253|220,561,199|







## 

## 

## 

||||||Notes|2021|2020|
|---|---|---|---|---|---|---|---|
|||||||F||
|Fixed assets||||||||
|Tangible assets|||||7b|||
|Investments|||||8|11,115,145|8,556,391|
|||||||11,115,145|8,556,391|
|Current assets||||||||
|Debtors||||||||
|Cash at bank,|including||deposits|||606,041|624,936|
|||||||606,041|624,936|
|Creditors: amounts||falling||due within one year|10|(151,308)|(765,807)|
|Net current assets||||||454,733|(140,871)|
|Total assets|less current|||liabilities||11,569,878|8,415,520|
|Net assets||||||11,569,878|8,415,520|
|Unrestricted|funds|||||||
|General funds|||||11b|454,733||
|Designated<br>funds|||||12b|11,115,145|8,415,520|
|||||||11,569,878|8,415,520|






## 

## 

## 

||||||Notes|2021|2020|
|---|---|---|---|---|---|---|---|
|||||||F||
|Net cash provided<br>by operating|activities||||14a|1,383,959|365,653|
|Cash flows from investing<br>activities:||||||||
|Interest receivable<br>8 other income||||||5,864|32,981|
|Dividends<br>received||||||72,690|88,609|
|Purchase of property,<br>plant and equipment||||||(1,359,607)|(580,900)|
|Proceeds from the sale ofproperty,|plant and equipment|||||18,400,000||
|Purchase of programme<br>related investments|||||||(75,000)|
|Purchase ofother investments||||||(4,786,397)|(405,304)|
|Proceeds from sale of investments||||||3,181,239|1,607,565|
|Net cash provided<br>by investing|activities|||||15,513,789|667,951|
|Change<br>in cash and cash equivalents<br>in the||reporting|period|||16,897,748|1,038,604|
|Cash and cash equivalents<br>at the|beginning|ofthe reporting||period||7,571,371|6,532,767|
|Cash and cash equivalents<br>at the|end ofthe|reporting|period||14(b)&(c)|24,469,119|7,571,371|





## 

## 



## 

## 

## 

## 



## 

## 

## 

## 

## 




## 

|Costs of raising funds|Costs of raising funds|Costs of raising funds||||||||
|---|---|---|---|---|---|---|---|---|---|
||||||||Group||Trust|
|||||||2021|2020|2021|2020|
|Property expenses||||||F|F|F||
|Repairs, rates and other|||non-|||||||
|rechargeable<br>property|||expenses|||2,151,731|1,081,173|||
|Recovery ofexpenses||previously|||expensed|(1,868,580)|(524,777)|||
|||||||283,151|556,396|||
|Property management|||expenses|||||||
|Agents'<br>management||fees not||||||||
|recoverable||||||333,895|383,945|||
|Agents'<br>rent review and|||letting|fees||392,187|324,978|||
|Legal expenses||||||135,342|138,407|||
|||||||861,424|847,330|||
|Total property expenses||||||1,144,575|1,403,725|||
|Investment<br>porffolio||expenses||||||||
|Management<br>fees||||||58,921|60,912|58,921|60,912|
|||||||1,203,496|1,464,637|58,922|60,912|
|Charitable<br>activities||||||||||
||||||||Group||Trust|
|||||||2021|2020|2021|2020|
|||||||||F||
|Grants payable (see|Note 5)|||||5,531,871|6,384,308|5,221,271|6,353,865|
|Indemnity<br>Insurance|-|charity||||77,810|45,035|42,310|26,038|
|Consultancy<br>and professional||||fees||146,756|128,806|76,495|35,794|
|General office expenditure||||||67,100|61,372|10,493|765|
|Sundry expenses||||||627|4,581|304|271|
|Depreciation||||||182|287|||
|Pension costs||||||7,500|7,500|7,500|7,500|
|Governance<br>costs (see|||note 6 below)|||72,082|63,247|18,480|11,832|
|||||||5,903,928|6,695,136|5,376,853|6,436,065|





## 

## 

|Grants and|donations|donations||
|---|---|---|---|
|Trust||||
||||2021|
|Medicine|||1,171,788|
|Education|||1,097,745|
|Welfare|||2,951,738|
|Total Trust|||5,221,271|
|Subsidiary|undertakings|||
|Medicine|||4,600|
|Education||||
|Welfare|||306,000|
|Total Subsidiary||undertakings|310,600|
|Total|||5,531,871|



|the grants<br>during<br>the lifetime ofthe settlor and the charity <br>larger donations,<br>however,<br>the following<br>analysis<br>has been|has made use ofthi<br> provided:|
|---|---|
|Trust||
|Medicine||
|Grants made equal to or greater than F50,000:||
|Royal Marsden<br>Cancer Charity|875,000|
|University<br>ofCollege London|71,588|
|Chai Cancer Care|75,000|
||1,021,588|
|Grants made between 210,000 and 649,999|148,200|
|Grants made between E5,000 and E9,999||
|Grants made of less than F5,000|2,000|
||1,171,788|





## 

## 

## 

|Grants and|donations|donations|(continued)|||||
|---|---|---|---|---|---|---|---|
|Education||||||||
|Grants made equal to|||or greater than F50,000:|||||
|Music in Secondary Schools Trust|||||350,000|||
|Norwood|||||200,000|||
|Tikun|||||75,000|||
|London School||ofJewish Studies|||100,000|||
|Jewish Schools||Network|||50,000|||
||||||775,000|||
|Grants made|between F10,000 and 649,999||||297,000|||
|Grants made|between F5,000 and E9,999|||||||
|Grants made|of|less than F5,000|||25,745|||
||||||1,097,745|||
|Welfare||||||||
|Grants made equal to|||or greater than F50,000:|||||
|Jewish Care|||||400,000|||
|Beit Halochem|||||100,000|||
|Kisha ron|||||50,000|||
|CST|||||200,000|||
|JFS|||||500,000|||
|Nightingale<br>Hammerson|||||100,000|||
|Jewish Leadership<br>Council|||||50,000|||
|Chief Rabbinate||Trust|||140,000|||
|British Council|||||133,334|||
||||||1,673,334|||
|Grants made|between F10,000 and 649,999||||1,155,760|||
|Grants made|between E5,000 and E9,999|||||||
|Grants made|of|less than F5,000|||122,644|||
||||||2,951,738|||
|Subsidiary|undertaking|||||||
|Medicine||||||||
|Grants made|of|less than E5,000|||4,600|||
|Education||||||||
|Grants made|of|less than F5,000||||||
|Welfare||||||||
|Grants made ofmore|||than F50,000:|||||
|Jewish Care|||||200,000|||
|Work Avenue|||||100,000|||
|Grants made|between F5,000 and F49,999||||6,000|||
|Grants made|of|less than E5,000||||||
||||||310,600|||
|Governance costs||||||||
|||||Group|||Trust|
||||2021||2020|2021|2020|
||||F||F||E|
|Audit fees|||72,082||63,247|18,480|11,832|





## 

|7.|Tangible fixed assets|||||
|---|---|---|---|---|---|
|(a)|Group|||Office and||
|||Investment|properties|office||
|||Freehold|Leasehold|equipment|Total|
|||E|E|||
||Cost or valuation|||||
||At 6 April 2020|203,580,000||143,309|203,723,309|
||Additions|1,359,607|||1,359,607|
||Disposals|(21,400,000)|||(21,400,000)|
||Net loss on revaluation|(5,009,607)|||(5,009,607)|
||At 5 April 2021|178,530,000||143,309|178,673,309|
||Depreciation|||||
||At 6 April 2020|||143,045|143,045|
||Charge for the year|||182|182|
||At 5 April 2021|||143,227|143,227|
||Net book value|||||
||At 5 April 2021|178,530,000||82|178,530,082|
||At 5 April 2020|203,580,000||264|203,580,264|



||Ifstated under historical cost principles,<br>the comparable<br>|amounts<br>for the investment<br>properties<br>w|ould be:|
|---|---|---|---|
|||2021|2020|
|||E||
||Cost|98,946,284|123,468,641|
|(b)|Trust|||
|||Office||
|||equipment|Total|
||Cost or valuation|||
||At 6 April 2020 and 5 April 2021|432|432|
||Depreciation|||
||At 6 April 2020 and 5 April 2021|432|432|
||Net book value|||
||At 5 April 2020 and 5 April 2021|||





## 

## 

## 

## 

|Fixed asset investments||||||||
|---|---|---|---|---|---|---|---|
|||||Group||Trust||
|Quoted investments||||2021<br>f|2020<br>f|2021<br>f|2020<br>E|
|Market value at 6 April 2020||||6,445,384|8,055,920|6,445,384|8,055,920|
|Gain I loss on revaluation||||2,199,050|(387,098)|2,199,050|(387,098)|
|Additions||||4,786,397|400,304|4,786,397|400,304|
|Disposals||||(2,660,094)|(1,623,742)|(2,660,094)|(1,623,742)|
|FXdifference||||(4,043)||(4,043)||
|||||10,766,694|6,445,384|10,766,694|6,445,384|
|Cash held for reinvestment||||348,451|2,111,007|348,451|2,111,007|
|Market value at 5 April 2021||||11,115,145|8,556,391|11,115,145|8,556,391|
|Programme<br>related investments||||1,382,700|1,382,700|||
|Quoted investments<br>summary|||—Group and Trust:|||||
|||||2021||2020||
|||||Market value|%oftotal|Market value|%oftotal|
|International<br>—Debt and fixed||interest||967,383|8.7|491,835|5.7|
|North America —Equities||||3,853,316|34.7|1,511,363|17.7|
|UK —Equities||||488,060|4.4|903,998|10.5|
|International<br>—Equities||||5,457,931|49.1|3,538,186|41.4|
|Cash||||348,455|3.1|2,111,009|24.7|
|||||11,115,145|100.0|8,556,391|100.0|
|Investments<br>representing|over 5% by value ofthe portfolio are||||as follows:|||
|||||||2021f|2020f|
|Vontobel Asset Management||||||967,383|491,835|
|Carne Global Fund Managers||||||1,538,718|680,346|
|Polen Capital Investment||||||1,715,332|831,017|
|Fundsmith<br>LLP||||||1,645,360|1,242,014|
|KBA Consulting<br>Management||Limited||||1,105,962||
|Scottish Mortgage<br>Investment||Trust||||1,016,899|470,212|
|Smithson<br>Investment<br>Trust|PLC|||||626,574|422,240|
|Link Fund Solutions|||||||576,027|
|Lindell Train Limited|||||||1,166,123|
|||||||8,616,228|5,879,814|






## 

## 

## 

## 

|Programme<br>related investments:|Programme<br>related investments:|Programme<br>related investments:|||Group||
|---|---|---|---|---|---|---|
|||||2021||2020|
|Cost:||||E|||
|Brought forward||||1,382,700||1,307,700|
|Further investments|made during the year (see note below)|||||75,000|
|Carried forward||||1,382,700||1,382,700|
|Position at end ofyear:|||||||
|Soza Health|||||||
|Share capital: Ordinary shares||||58||58|
|Other loan advances||||1,382,642||1,382,642|
|||||1,382,700||1,382,700|
|Carried forward||||1,382,700||1,382,700|
|Movements<br>in year|||||||
|Position at start ofthe year:|||||||
|Soza Health|Limited|—share|capital|58||58|
|||—loan advance||1,382,642||1,282,642|
|||||1,382,700||1,282,700|
|Change<br>during the|year||||||
|Soza Health|Limited|—share|capital||||
|||—further loan advance||||75,000|
|Movement<br>for the year||||||75,000|
|Total programme|related investment||carried forward|1,382,700||1,382,700|





## 

## 

## 

|9.|Debtors||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Group|||Trust||
||||||2021||2020|2021||2020|
|||||||||E|||
||Due from|managing|agents||1,197,409||1,886,865||||
||Rent arrears||||1,821,356||894,113||||
||Other debtors and prepayments||||1,702,290||2,300,921||||
||||||4,721,055||5,081,899||||
|10.|Creditors: amounts|||falling due|within one year||||||
|||||||Group|||Trust||
||||||2021||2020|2021||2020|
|||||||||E|||
||Other taxes and social security||||30,571||420,936||||
||Amounts|due to Benesco Charity|||Limited|||137,678||127,178|
||Accruals|and deferred||income|1,741,302||2,454,481|13,630||13,630|
||Grants committed||||||625,000|||625,000|
||Other creditors||||18,524||||||
||||||1,790,397||3,500,417|151,308||765,808|



|Grants committed|Grants committed|Group||Trust||
|---|---|---|---|---|---|
|||2021|2020|2021|2020|
|||||E||
|Balance at|6 April 2020|625,000|1,400,000|625,000|1,400,000|
|Grants awarded<br>in the year||5,531,871|6,384,308|3,221,271|6,353,865|
|Grants paid|in the year|(6,156,871)|(7,159,308)|(5,846,271)|(7,128,865)|
|Balance at|5 April 2021||625,000||625,000|





## 

## 

|11.|General funds|General funds|||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|a)|Group||||||||2021f|2020|
||At 6 April|2020||||||7,742,202||5,517,266|
||Net income|||||||2,811,507||2,110,618|
||Realised|loss on sale of investment|||property|||(3,000,000)|||
||Realised loss on sale of investments||||||||521,147||
||Other gains/(losses)||||||||(4,043)||
||Transfers|between|funds|||||18,980,513||114,318|
||At 5 April|2021||||||27,051,326||7,742,202|
||||||||||2021|2020|
|b)|Trust||||||||||
||At 6 April|2020|||||||||
||Net income/(expenditure)||||||||438,205|(114,318)|
||Realised|loss on sale ofinvestments|||||||517,103||
||Transfers|between|funds||||||(500,575)|114,318|
||At 5 April|2021|||||||454,733||
|12.|Designated<br>funds||||||||||
|a)|Group|||||Property and investment|||||
||||||||capital fund||||
|||||||Realised||Unrealised|||
|||||||surplus|on|revaluation|2021|2020|
|||||||disposal||reserve|Total|Total|
||||||||F|E|E||
||At 6 April|2020||||132,376,954||80,442,043|212,818,997|217,251,313|
||Unrealised|loss on|revaluation||||||||
||- Investment<br>properties|||||||(5,009,607)|(5,009,607)|(3,930,900)|
||- Investments|||||||2,199,050|2,199,050|(387,098)|
||Transfers|between|funds|||(18,980,513)|||(18,980,513)|(114,318)|
||At 5 April|2021||||113,396,441||77,631,486|191,027,927|212,818,997|
|b)|Trust|||||Property and investment|||||
||||||||capital fund||||
|||||||Realised||Unrealised|||
|||||||surplus|on|revaluation|2021|2020|
|||||||disposal||reserve|Total|Total|
||||||||F|E|E||
||At 6 April|2020||||8,084,836||330,684|8,415,520|8,916,936|
||Movement|due to revaluation||in year|||||||
||- Unrealised<br>loss on revaluation|||||||2,199,050|2,199,050|(387,098)|
||Transfers|between|funds|||500,575|||500,575|(114,318)|
||At 5 April|2021||||8,585,411||2,529,734|11,115,145|8,415,520|





## 

## 

## 

|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|13.|Analysis|of net assets between funds||||||||||
||Group||||||||General|Designated||
||||||||||funds|funds|Total|
||||||||||E|||
||Fixed assets|||||||||191,027,927|191,027,927|
||Current assets||||||||28,841,723||28,841,723|
||Creditors||||||||(1,790,397)||(1,790,397)|
||||||||||27,051,326|191,027,927|218,079,253|
||Trust||||||||General|Designated||
||||||||||funds<br>F|fundsf|Total|
||Fixed assets|||||||||11,115,145|11,115,144|
||Current assets||||||||606,041||606,042|
||Creditors||||||||(151,308)||(151,308)|
||||||||||454,733|11,115,145|11,569,878|
|14.|Notes to|the cash||flow statement||||||||
|a)|Reconciliation<br>of|||net expenditure|||for the year to|||||
||net cash provided||||by operating||activities|||||
|||||||||||2021|2020|
|||||||||||E|E|
||Net income for the|||year||||||2,811,507|2,126,797|
||Dividend|receivable||||||||(72,690)|(88,609)|
||Interest receivable|||and other sundry|||income|||(5,864)|(32,981)|
||Depreciation|||||||||182|287|
||Decrease/(increase)||||in debtors|||||360,844|(1,119,627)|
||Decrease|in creditors||||||||(1,710,020)|(520,214)|
||Net cash|provided||by operating||activities||||1,383,959|365,653|
|b)|Analysis|ofchanges|||in net debt|||||||
||||||||||At 6 April||At 5 April|
||||||||||2020|Gashflow|2021|
|||||||||||F||
||Cash at bank and||in hand||||||7,571,371|16,897,748|24,469,119|
|c)|Reconciliation<br>of|||net cashflow to|||movement|in net|debt|||
|||||||||||2021|2020|
||Increase|in cash in||the year||||||16,897,748|1,038,604|
||Net funds|at the beginning<br>ofthe year||||||||7,571,371|6,532,767|
||Net funds|at the end|||ofthe year|||||24,469,119|7,571,371|





## 

## 

## 

## 

|Interes|ts<br>in group|und|ertakings<br>at the|balance sheet date are|as follows:|||
|---|---|---|---|---|---|---|---|
|||||||Proportion|of nominal|
||||||Description|value of|issued|
|||||Country of|ofshares|shares|held by|
|Name|of undertaking|||incorporation|held|Group|Trust|
|Benesco Charity||Limited||England|(See note below)|||
|Heath|Retail Holdings||Limited|England|F1 Ordinary|100%||
|Heath|Retail One|Limited||England|E1 Ordinary|100%||



##