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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|Ltd||
|---|---|---|---|---|---|---|---|
||Chartered|Accountants|||8 Statutory||Auditors|
||First Floor|||||||
||94 Stamford||Hill|||||
||London|||||||
||N16 6XS|||||||
|BANKERS:|Barclays Bank pic|||||||
||240 Whitechapel|||Road||||
||London|||||||
||E1 1BS|||||||
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|||||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)|
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||||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|
##
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|||||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|
##
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##
|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|
##
|10.|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|
##
||||Group||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|
##
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