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||||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|||||
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|||||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|
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|||||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|||||
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||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|
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|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|
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|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|
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||||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|
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|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|
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|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|
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||||||||||||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|
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||||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)|
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