2022-03-31-accounts - Itzchok Meyer Cymerman Trust Limited

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		Page
Reference and Administrative Details
Report ofthe Trustees	2	to	3
Report ofthe Independent Auditors	4	to	6
Consolidated Statement of Financial Activities
Company Statement of Financial Activities
Consolidated Balance Sheet
Company Balance Sheet		10
Consolidated Cash Flow Statement
Notes to the Consolidated Cash Flow Statement		12
Notes to the Consolidated Financial Statements	13 to		21

AUDITORS:	Sugarwhite		Meyer	Accountants	Accountants
	Chartered	Accountants			8 Statutory	Auditors
	First Floor
	94 Stamford		Hill
	London
	N16 6XS
BANKERS:	Barclays Bank pic
	240 Whitechapel			Road
	London
	E1 1BS

				2022	2021
				Unrestricted	Total
				funds	funds
			Notes
INCOME AND ENDOWMENTS		FROM
Donations and legacies					50,000
Investment income				1,708,669	1,575,541
Other income				9,968	4,064
Total				1,718,637	1,629,605
EXPENDITURE ON
Raising funds				903,195	649,508
Charitable activities
Charitable activities				1,448,274	804,000
Total				2,351,469	1,453,508
Net gains/(losses) on	investments			5,947	68,099
NET INCOME/(EXPENDITURE)				(626,885)	244,196
RECONCILIATION OF FUNDS
Total funds brought	forward			18,992,109	18,747,913
TOTAL FUNDS CARRIED FORWARD				18,365,224	18,992,109

				2022	2021
				Unrestricted	Total
				funds	funds
			Notes
INCOME AND ENDOWMENTS		FROM
Donations and legacies					150,000
Investment income				1,463,727	1,392,500
Other income				9,967	4,064
Total				1,473,694	1,546,564
EXPENDITURE ON
Raising funds				688,831	556,914
Charitable activities
Charitable activities				1,430,538	802,336
Total				2,119,369	1,359,250
Net gains/(losses) on	investments			5,947	68,099
NET INCOME/(EXPENDITURE)				(639,728)	255,413
RECONCILIATION OF FUNDS
Total funds brought	forward			17,245,036	16,989,623
TOTAL FUNDS CARRIED FORWARD				16,605,308	17,245,036

	31	MARCH 2022
		2022	2021
	Notes
FIXEDASSETS
Investments
Investments	10	227,767	221,820
Investment property	11	38,918,719	29,485,287
		39,146,486	29,707,107
CURRENT ASSETS
Debtors	12	1,231,455	942,985
Cash at bank		1,502,839	1,796,053
		2,734,294	2,739,038
CREDITORS
Amounts falling due within one year	13	~570,718)	~522,576)
NET CURRENT ASSETS		2,163,574	2,216,462
TOTAL ASSETS LESSCURRENT
LIABILITIES		41,310,060	31,923,569
CREDITORS
Amounts falling due after more than	one
year	14	(22,526,838)	(12,513,460)
PROVISIONS FOR LIABILITIES	17	(418,000)	(418,000)
NET ASSETS		18,365,222	18,992,109
RESERVES
Unrestricted funds	18	7,646,005	8,278,840
Fair value reserve	18	10,719,217	10,713,269
		18,365,222	18,992,109

	31	MARCH 2022
		2022	2021
	Notes
FIXEDASSETS
Investments
Investments	10	227,766	221,821
Investment property	11	33,106,982	23,664,456
		33,334,748	23,886,277
CURRENT ASSETS
Debtors	12	1,207,154	4,562,796
Cash at bank		1,490,059	1,773,704
		2,697,213	6,336,500
CREDITORS
Amounts falling due within one year	13	~1,549,815)	~464,281)
NET CURRENT ASSETS		1,147,398	5,872,219
TOTAL ASSETS LESSCURRENT
LIABILITIES		34,482,146	29,758,496
CREDITORS
Amounts falling due after more than	one
year	14	~17,876,838)	~12,513,460)
NET ASSETS		16,605,308	17,245,036
FUNDS OF THE CHARITY
Unrestricted funds	18	7,668,094	8,313,767
Fair value reserve	18	8,937,214	8,931,269
		16,605,308	17,245,036

						2022	2021
					Notes	F
Cash flows from operating		activities
Cash generated	from operations					9,650,037	728,650
Interest paid						~514,306	~298,863
Net cash provided by operating			activities			9,135,731	429,787
Cash flows from investing		activities
Purchase of investment property						(9,433,433)	(219,587)
Interest received						240	1,955
Dividends received						4,248	7,341
Net cash used in investing		activities				~9,428,945)	~210,291)
Change in cash	and cash	equivalents		in the
reporting period						(293,214)	219,496
Cash and cash	equivalents	at the beginning
ofthe reporting	period					1,796,053	1,576,557
Cash and cash	equivalents	at the end		ofthe
reporting period						1,502,839	1,796,053

	RECONCILIATION ACTIVITIES	OF	NE	T INCOME/(EXPE	NDITURE) TO NET CASH	FLOW FROM	OPERATING
						2022	2021
	Net income/(expenditure)			for the reporting	period (as per the
	Statement of Financial		Activities)			(626,885)	244,196
	Adjustments for:
	(Gains)/losses on	investments				(5,947)	(68,099)
	Interest received					(240)	(1,955)
	Interest paid					514,306	298,863
	Dividends received					(4,248)	(7,341)
	Loans received					9,950,000	48,594
	Decrease/(increase)	in	debtors			(288,469)	147,904
	Increase/(decrease)	in	creditors			111,520	66,488
	Net cash provided	by	(used in) operating		activities	9,650,037	728,650
2.	ANALYSIS OF CHANGES			IN NET DEBT
					At 1.4.21	Cash flow	At 31.3.22
	Net cash
	Cash at bank and	in hand			1,796,053	~293,214)	1,502,839
					1,796,053	~293,214)	1,502,839
	Debt
	Debts falling due after		1 year		)12,513,460)	)10,013,379)	)22,526,839)
					)12,513,460)	)10,013,379)	)22,526,839)
	Total				~10,717,407)	~10,306,593)	~21,D24,000)

			Group	Company	Company
		2022	2021	2022	2021
		F	F	F	f.
Rental income		1,704,181	1,566,245	1,333,829	1,215,868
Other fixed asset investment	income	4,248	7,341	4,248	7,341
Deposit account interest		240	1,955	240	1,955
Interest received				125,411	167,336
		1,708,669	1,575,541	1,463,727	1,392,500

				Group		Company	Company
				2022	2021	2022	2021
	Rent and rates			36,757	24,593	34,163	13,228
	Repairs and	maintenance		144,862	144,566	99,848	113,722
	Service charges		8 ground rent	45,408	65,626	32,272	41,546
	Management	and letting fees		6,797	12,826
	Light and heat			4,034	1,467	2,727	668
	Insurance			51,688	54,116	51,688	54,116
	Professional	fees		76,174	33,307	75,854	33,193
	Office expenses			2,540	1,578	2,540	1,578
	Interest payable		and similar charges	514,306	298,863	389,739	298,863
	Telephone			265	551
	Bad debts			20,364	12,015
				903,195	649,508	688,831	556,914
4.	CHARITABLE	ACTIVITIES COSTS
	Group

	Group
								Grant
								funding of
								activities	Support
							Direct	(see note	costs (see
							Costs	5)	note 6)	Totals
							F	F	F	F
	Charitable		activities				230,000	1,189,810	28,464	1,448,274
	Company
								Grant
								funding of
								activities	Support
							Direct	(see note	costs (see
							Costs	5)	note 6)	Totals
	Charitable		activities				230,000	1,189,810	10,728	1,430,538
5.	GRANTS		PAYABLE
										Group
									2022	2021
	Charitable		activities						1,189,810	559,672
	The total	grants			paid to institutions	during	the year was as follows:
									2022	2021
	Relief of	poverty							372,500	144,250
	Education								420,410	272,400
	Advancement			of religion					292,100	119,472
	Medical								64,000	8,750
	General	purpose							22,600	14,800
	Social welfare								18,200
									1,189,810	559,672

GRANTS PAYABL	E - contin	ued
M D 8 SCharitable	Trust			182,000
Russian Immigrant	Aid Fund	Ltd		122,000
Ichud Mosdos Gur	Ltd			117,600
Gur Foundation				50,000
Colel Polen Kupath	Ramban			47,000
North London Welfare and Educational			Foundation	45,000
Mercaz Hatorah Belz Machnovka				40,000
CMZ Ltd				40,000
Others under 640,000				546,210
Total				1,189,810

UPPORT	COSTS
		Group		Company
		Governance	costs	Governance	costs
		2022	2021	2022	2021
		F	F	F	f.
Charitable	activities	28,464	14,328	10,728	12,664

Support	costs, included	in the above, are as	follows:
			Group		Company
			2022	2021	2022	2021
			F	F	F	f.
Auditors'	remuneration		6,050	4,680	6,050	4,680
Auditors'	remuneration	for non audit work	5,850	8,440	4,250	6,840
General	expenses		16,564	1,208	428	1,144
			28,464	14,328	10,728	12,664
NET INCOME/(EXPENDITURE)
Net income/(expenditure)		is stated after charging/(crediting):
					2022	2021
Auditors'	remuneration				6,050	4,680
Auditors'	remuneration	for non audit work			5,850	8,440
Other operating leases					230,000	230,000

Group
	Listed
	investments
COST OR VALUATION
At 1 April 2021	221,820
Revaluations	5,947
At 31 March 2022	227,767
NET BOOK VALUE
At 31 March 2022	227,767
At 31 March 2021	221,820

Company
	Shares	in
	group		Listed
	undertakings		investments	Totals
	f.		f.	F
COST OR VALUATION
At 1 April 2021			221,820	221,821
Revaluations			5,947	5,947
At 31 March 2022			227,767	227,768
NET BOOK VALUE
At 31 March 2022		1	227,767	227,768
At 31 March 2021		1	221,820	221,821

FIXEDASSET INVESTMENTS - continued
Listed investments	2022	2021
UK	454	518
Non UK	227,313	221,302
	227,767	221,820

INVESTMENT PROPERTY Group
	Total
	F
FAIR VALUE
At 1 April 2021	29,485,287
Additions Disposals	9,442,527 ~9,095
At 31 March 2022	38,918,719
NET BOOK VALUE
At 31 March 2022	38,918,719
At 31 March 2021	29,485,287
Company
	Total
FAIR VALUE
At 1 April 2021	23,664,456
Additions	9,442,527
At 31 March 2022	33,106,983
NET BOOK VALUE
At 31 March 2022	33,106,983
At 31 March 2021	23,664,456

				Group		Company	Company
				2022	2021	2022	2021
Amounts	owed by group undertakings						3,635,079
Other debtors				1,085,035	796,318	1,064,852	781,048
Amounts	due	from connected	companies	142,301	141,494	142,302	141,494
Prepayments		and accrued income		4,119	5,173		5,175
				1,231,455	942,985	1,207,154	4,562,796

CREDIT	ORS: AMOU	NTS	FALLING DUE	WITHIN ONE YEA	R
				Group		Company
				2022	2021	2022	2021
				F	F	f.
Amounts	owed to group undertakings					1,012,011
Other creditors				471,155	430,679	445,247	376,606
Amounts	due to connected		companies	57,713	52,103	57,713	52,103
Accruals	and deferred	income		41,850	39,794	34,844	35,572
				570,718	522,576	1,549,815	464,281

						Group	Company	Company
					2022	2021	2022	2021
					F	F	f
Bank	loans	(see	note	15)	20,763,773	10,800,000	16,113,773	10,800,000
Other	loans	(see	note	15)	1,763,065	1,713,460	1,763,065	1,713,460
					22,526,838	12,513,460	17,876,838	12,513,460

Amounts falling due between	Amounts falling due between	two and five years:
Bank loans	—2-5 years
Other loans	- 2-5 years

	Group
2022	2021
20,763,773	10,800,000
1,763,065	1,713,460
22,526,838	12,513,460

Minimum lease payments under no	n-cancellable opera	ting leases fall d	ue as follows:	ue as follows:
		Group	Company
	2022	2021	2022	2021
Within one year	230,000	230,000	230,000	230,000
Between one and five years	920,000	920,000	920,000	920,000
In more than five years	460,000	690,000	460,000	690,000
	1,610,000	1,840,000	1,610,000	1,840,000

				Company
		2022	2021	2022	2021
		F	F	f.
Deferred	taxation	418,000	418,000
		418,000	418,000

Group
				Incoming	Resources	Gains and
			At 1.4.21	resources	expended	losses	At 31.3.22
			f.	f.	f.	f.	f.
Unrestricted		funds
General	fund		8,278,840	1,718,637	(2,351,472)		7,646,005
Fair value reserve			10,713,269			5,948	10,719,217
TOTAL	FUNDS		18,992,109	1,718,637	(2,351,472)	5,948	18,365,222

				Incoming	Resources	Gains and
			At 1.4.21	resources	expended	losses	At 31.3.22
Unrestricted		funds
General	fund		8,313,767	1,473,694	(2,119,369)		7,668,092
Fair value reserve			8,931,269			5,948	8,937,217
TOTAL	FUNDS		17,245,036	1,473,694	(2,119,369)	5,948	' 16,605,309