| Page | |||
|---|---|---|---|
| Trustees' | annual report | ||
| Independent auditor's |
report to the members | ||
| Statement | offinancial | activities | 12 |
| Statement | offinancial | position | 13 |
| Statement | ofcash flows | 14 | |
| Notes to | the financial | statements | 15 |
| Reference and administrative | Reference and administrative | details | ||||
|---|---|---|---|---|---|---|
| Registered charity | name | Siva Charitable | Fund | |||
| Charity registration | number | 267685 | ||||
| Principal office | New Burlington | House | ||||
| 1075Finchley | Road | |||||
| London | ||||||
| NW11 OPU | ||||||
| The trustees | ||||||
| Mr A Klein | ||||||
| Mr I Sternlicht | ||||||
| Mrs Z Sternlicht | ||||||
| Auditor | Cohen Arnold | |||||
| Chartered accountants |
dr statutory | auditor | ||||
| New Burlington | House | |||||
| 1075Finchley | Road | |||||
| LONDON | ||||||
| NW11 OPU | ||||||
| Solicitors | Bude Nathan | Iwanier | ||||
| 1-2Temple Fortune Parade | ||||||
| Bridge Lane | ||||||
| London | ||||||
| NW11 OQN |
| Year ended | 5April | 2021 | 2021 | |||||
|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||||
| Unrestricted | ||||||||
| funds | Total funds | Total funds | ||||||
| Note | ||||||||
| Income and endowments | ||||||||
| Investment income |
4 | 822,635 | 822,635 | 901,684 | ||||
| Total income | 822,635 | 822,635 | 901,684 | |||||
| Expenditure | ||||||||
| Expenditure on |
raising funds: | |||||||
| Investment | management | costs | 5 | (227,480) | (227,480) | (295,875) | ||
| Expenditure on |
charitable | activities | 6,7 | (785,949) | (785,949) | (1,004,993) | ||
| Total expenditure | (1,013,429) | (1,013,429) | (1,300,868) | |||||
| Net expenditure | and net | movement | in funds | (190,794) | (190,794) | (399,184) | ||
| Reconciliation | offunds | |||||||
| Total funds brought forward |
5,471,100 | 5,471,100 | 5,870,284 | |||||
| Total funds carried forward | 5,280,306 | 5,280,306 | 5,471,100 |
| 5April | 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||||
| Note | g | ||||||||
| Fixed assets | |||||||||
| Investments | 12 | 8,953,727 | 8,953,727 | ||||||
| Current assets | |||||||||
| Debtors | 13 | 394,521 | 216,953 | ||||||
| Cash at bank | aud | in hand | 26,686 | 567,413 | |||||
| 421,207 | 784,366 | ||||||||
| Creditors: amounts | falling due within one year | 14 | (525,396) | (497,761) | |||||
| Net current | liabilities | (104,189) | 286,605 | ||||||
| Total assets | less | current liabilities | 8,849,538 | 9,240,332 | |||||
| Creditors: amounts | falling due after more than one year | 15 | (3,569,232) | (3,769,232) | |||||
| Net assets | 5,280,306 | 5,471,100 | |||||||
| Funds of the | charity | ||||||||
| Unrestricted | funds | 5,280,306 | 5,471,100 | ||||||
| Total charity | funds | 16 | 5,280,306 | 5,471,100 | |||||
| These financial | statements were approved |
by the | b ard | f tro | s an | authorised for |
issue on 26 | ||
| Jsnu 2022 aud are |
sig ed on behalf of | the board | |||||||
| Mr A Kleiu | Mr JStemttcbt | ||||||||
| Trustee | Trustee |
| Year | ended 5April 20 | 21 | ||
|---|---|---|---|---|
| 2021 | 2020 | |||
| Cash flows from operating | activities | |||
| Net expenditure | (190,794) | (399,184) | ||
| Adjustments for: | ||||
| Dividends, interest and rents from investments |
(822,597) | (901,206) | ||
| Other interest receivable snd similar income |
(38) | (478) | ||
| Interest payable and similar Accrued expenses |
charges | 454 13,574 |
211 12,434 |
|
| Changesin: | ||||
| Trade and other debtors | (177,568) | 161,521 | ||
| Trade and other creditors | 14,061 | (10,948) | ||
| Cash generated from operations |
(1,162,908) | (1,137,650) | ||
| Interest paid | (454) | (211) | ||
| Interest received | 38 | 478 | ||
| Net cash used in operating | activities | (1,163,324) | (1,137,383) | |
| Cash flows from investing | activities | |||
| Dividends, interest and rents from investments |
822,597 | 901,206 | ||
| Net cash from investing activities |
822,597 | 901,206 | ||
| Cash flows from financing | activities | |||
| Proceeds from borrowings | (200,000) | (200,000) | ||
| Net cash used in financing | activities | (200,000) | (200,000) | |
| Net decrease in cash and cash equivalents | (540,727) | (436,177) | ||
| Cash and cash equivalents | at beginning | ofyear | 567413 | 1 003 590 |
| Cash and cash equivalents | at end ofyear | 26,686 | 567,413 |
| have been had the impair Investment income |
ment not pre |
viously been rec |
ognised. | ||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| Income from investment | properties | 760,377 | 760,377 | 803,591 | 803,591 |
| Income from lease extensions | 62,220 | 62,220 | 97,615 | 97,615 | |
| Bank interest receivable | 38 | 38 | 463 | 463 | |
| Other interest receivable | 15 | 15 | |||
| 822,635 | 822,635 | 901,684 | 901,684 |
| Yea Investment management costs |
r ended 5April | 2021 | ||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2021 | Funds | 2020 | |
| s | ||||
| Portfolio management | 37,961 | 37,961 | 85,771 | 85,771 |
| Rent collection | 29,992 | 29,992 | 28,447 | 28,447 |
| Property repairs and maintenance | ||||
| charges | 16,729 | 16,729 | 15,125 | 15,125 |
| Mortgage interest | 103,416 | 103,416 | 136,636 | 136,636 |
| Finance charges | 39,382 | 39,382 | 29,896 | 29,896 |
| 227,480 | 227,480 | 295,875 | 295,875 |
| Expenditure | on | cha | ritable | acti | vities | by fund type | by fund type | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total | Funds | Unrestricted | Total Funds | ||||||||
| Funds | 2021 | Funds | 2020 | |||||||||
| Grants to institutions | 781,350 | 781,350 | 973,800 | 973,800 | ||||||||
| Supportcosts | 4,599 | 4,599 | 31,193 | 31,193 | ||||||||
| 785,949 | 785,949 | 1,004,993 | 1,004,993 | |||||||||
| Expenditure | on | charitable | activities | by activity type | ||||||||
| Grant | funding | Total funds | Total fund | |||||||||
| of | activities | Support costs | 2021 | 2020 | ||||||||
| Grants to institutions | 781,350 | 781,350 | 973,800 | |||||||||
| Governance | costs | 4,599 | 4,599 | 31,193 | ||||||||
| 781,350 | 4,599 | 785,949 | 1,004,993 | |||||||||
| Analysis of | support | costs | ||||||||||
| Legal | and | |||||||||||
| other | Other | |||||||||||
| professional | Accountanc | finance | ||||||||||
| fees | y fees | Audit fees | costs | Total 2021 | Total 2020 | |||||||
| Governance | costs | (4,44 Ii | 4,000 | 4,200 | 840 | 4,599 | 31,193 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Grants to institutions | ||||
| Amud Hatzdokoh | Trust | 36,000 | ||
| Asser Bishvil Foundation | 50,000 | |||
| Chevras Mo'oz Ladol | 20,000 | 62,500 | ||
| Society Of Friends | OfThe Torah | 70,000 | ||
| Tehilois Yoel | 125,000 | |||
| UTRY Limited | 75,000 | 20,000 | ||
| United Talmudical | Assocates Limited | 182,000 | 300,000 | |
| Vyoel Moshe Charitable | Trust | 30,000 | ||
| Yesamach Levav | 20,000 | 32,000 | ||
| Other donations below f30,000 |
368,350 | 364,300 | ||
| 781,350 | 973,800 | |||
| Total grants | 781,350 | 973,800 |
| 2021 | 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Fees | payable | for | the | audit | ofthe | financial | statements | 4,200 | 4,000 |
| Investments Year ended 5April 2021 |
|
|---|---|
| Investment | |
| properties | |
| 5 | |
| Cost or valuation | |
| At 6April 2020and 5April 2021 | 8,953,727 |
| Impairment | |
| At 6April 2020 and 5April 2021 | |
| Carrying amount |
|
| At 5April 2021 | 8,953,727 |
| At 5 April 2020 | 8,953,727 |
| 13. | expertise required to Debtors |
under | take such an |
exercise. | ||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| Trade debtors | 355,121 | 149,757 | ||||
| Other debtors | 39,400 | 67,196 | ||||
| 394,521 | 216,953 | |||||
| 14. | Creditors: amounts | falling due within | one year | |||
| 2021 | 2020 | |||||
| Bank loans aud overdrafts | 200,000 | 200,000 | ||||
| Accruals and deferred | income | 75,964 | 62,390 | |||
| Social security and other taxes | 26,442 | 18,909 | ||||
| Amounts due to connected |
undertakings | 175,192 | 155,192 | |||
| Other creditors | 47,798 | 61,270 | ||||
| 525,396 | 497,761 | |||||
| 15. | Creditors: amounts | falling due after more than one year | ||||
| 2021 | 2020 | |||||
| g | f | |||||
| Bank loans and overdrafts | 3,569,232 | 3,769,232 |
| At | At | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6 | April 2020 | Income | Expenditure | 5April 2021 | |||||||||||
| General | funds | 3,629,990 | 822,635 | (1,013,429) | 3,439,196 | ||||||||||
| Fair value | reserve | 1,841,110 | 1,841,110 | ||||||||||||
| 5,471,100 | 822,635 | (1,013,429) | 5,280,306 | ||||||||||||
| At | At | ||||||||||||||
| 6 | April 2019 | Income | Expenditure f |
5 April 2020 | |||||||||||
| General | funds | 4,029,174 | 901,684 | (1,300,868) | 3,629,990 | ||||||||||
| Fair value | reserve | 1,841,110 | 1,841,110 | ||||||||||||
| 5,870,284 | 901,684 | (1,300,868) | 5,471,100 | ||||||||||||
| 17. | Analysis | ofnet assets between | funds | ||||||||||||
| Unrestricted | Total Funds | ||||||||||||||
| Funds | 2021 | ||||||||||||||
| Tangible | fixed assets | 8,953,727 | 8,953,727 | ||||||||||||
| Current | assets | 421,207 | 421,207 | ||||||||||||
| Creditors | less than | I year | (525,396) | (525,396) | |||||||||||
| Creditors | greater than | 1 year | (3,569,232) | (3,569,232) | |||||||||||
| Net assets | 5,280,306 | 5,280,306 | |||||||||||||
| Unrestricted | Total Funds | ||||||||||||||
| Funds | 2020 | ||||||||||||||
| Tangible | fixed assets | 8,953,727 | 8,953,727 | ||||||||||||
| Current | assets | 784,366 | 784,366 | ||||||||||||
| Creditors | less than | 1 year | (497,761) | (497,761) | |||||||||||
| Creditors | greater than | I year | (3,769,232) | (3,769,232) | |||||||||||
| Net assets | 5,471,100 | 5,471,100 | |||||||||||||
| 1$. | Financial | instruments | |||||||||||||
| The carrying amount |
for each | category | of | financial | instrument | is as follows: | |||||||||
| 2021 | 2020 | ||||||||||||||
| f | |||||||||||||||
| Financial | assets that | are debt | instruments | measured | at amortised | cost | |||||||||
| Financial | assets that | are debt instruments | measured | at | amortised | ||||||||||
| cost | 421,207 | 784,366 | |||||||||||||
| Financial | liabilities | measured | at amortised | cost | |||||||||||
| Financial | liabilities | measured | at amortised | cost | 4,068,186 | 4,248,084 |
| At | At | ||||
|---|---|---|---|---|---|
| 6 Apr 2020 | Cash flows | 5Apr 2021 | |||
| f | |||||
| Cash | at bank and in hand | 567,413 | (540,727) | 26,686 | |
| Debt | due within | one year | (200,000) | — | (200,000) |
| Debt | due after one year | (3,769,232) | 200,000 | (3,569,232) | |
| (3,401,819) | (340,727) | (3,742,546) |