| Page | ||
|---|---|---|
| Trustees' annual report | ||
| Independent auditor's |
report to the members | |
| Statement offinancial | activities | 11 |
| Statement offinancial | position | 12 |
| Statement ofcash flows | 13 | |
| Notes to the financial | statements | 14 |
| Reference and administrative | Reference and administrative | details | |||
|---|---|---|---|---|---|
| Registered charity | name | Siva Charitable | Fund | ||
| Charity registration | number | 2676S5 | |||
| Principal office | New Burlington | House | |||
| 1075Finchley Road | |||||
| London | |||||
| NW11 OPU | |||||
| The trustees | Mr A Klein | ||||
| MrISternlicht | |||||
| Mrs Z Sternlicht | |||||
| Auditor | Cohen Arnold | ||||
| Chartered accountants |
dc statutory | auditor | |||
| New Burlington | House | ||||
| 1075Finchley Road | |||||
| LONDON | |||||
| NW11 OPU | |||||
| Solicitors | Bude Nathan lwanier | ||||
| 1-2Temple Fortune Parade | |||||
| Bridge Lane | |||||
| London | |||||
| NW11 OQN |
| 2022 | 2022 | 2021 | ||||
|---|---|---|---|---|---|---|
| Unrestricted | ||||||
| funds | Total funds | Total funds | ||||
| Note | 8 | |||||
| Income and endowments | ||||||
| Investment income |
4 | 771,910 | 771,910 | 822,635 | ||
| Total income | 771,910 | 771,910 | 822,635 | |||
| Expenditure | ||||||
| Expenditure on raising funds: Investment management costs Expenditure on charitable activities |
5 6,7 |
(320,199) (186,931) |
(320,199) (186,931) |
(227,480) (785,949) |
||
| Total expenditure | (507,130) | (507,130) | (1,013,429) | |||
| Net income/(expenditure) | and net movement | in funds | 264,780 | 264,780 | (190,794) | |
| Reconciliation offunds | ||||||
| Total funds brought forward |
5,280,306 | 5,280,306 | 5,471,100 | |||
| Total funds carried forward | 5,545,086 | 5,545,086 | 5,280,306 |
| 5April 2022 | ||||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Note | g | |||||
| Fixed assets | ||||||
| Investments | 12 | 8,953,727 | 8,953,727 | |||
| Current assets | ||||||
| Debtors | 13 | 305,494 | 394,521 | |||
| Cash at bank | and in hand | 46,436 | 26,686 | |||
| 351,930 | 421,207 | |||||
| Creditors: amounts | falling due within | one year | 14 | (1,110,321) | (525,396) | |
| Net current | liabilities | (758,391) | (104,189) | |||
| Total assets | less current liabilities | 8,195,336 | 8,849,538 | |||
| Creditors: amounts | falling due after | more than one year | 15 | (2,650,250) | (3,569,232) | |
| Net assets | 5,545,086 | 5,280,306 | ||||
| Funds ofthe Unrestricted |
charity funds |
5,545,086 | 5,280,306 | |||
| Total charity | funds | 16 | 5,545,086 | 5,280,306 |
| Siva Charitable Fund Statement ofCash Flows Year ended 5April 2022 |
|||
|---|---|---|---|
| 2022f | 2021 | ||
| Cash flows from operating Net income/(expenditure) |
activities | 264,780 | (190,794) |
| Adjustments for: Dividends, interest and rents from investments |
(771,895) | (822,597) | |
| Other interest receivable and similar income | (15) | (38) | |
| Interest payable and similar Accrued (income)/expenses |
charges | 130 (32,875) |
454 13,574 |
| Changes in: Trade and other debtors |
89,027 | (177,568) | |
| Trade and other creditors | (86,240) | 14,061 | |
| Cash generated from operations |
(537,088) | (1,162,908) | |
| Interest paid Interest received |
(130) 15 |
(454) 38 |
|
| Net cash used in operating | activities | (537,203) | (1,163,324) |
| Cash flows from investing activities Dividends, interest and rents from investments |
771,895 | 822,597 | |
| Net cash from investing activities |
771,895 | 822,597 | |
| Cash flows from financing | activities | ||
| Proceeds from borrowings | (214,942) | (200,000) | |
| Net cash used in financing | activities | (214,942) | (200,000) |
| Net increase/(decrease) in |
cash and cash equivalents | 19,750 | (540,727) |
| Cash and cash equivalents | at beginning ofyear | 26,686 | 567,413 |
| Cash and cash equivalents | at end ofyear | 46,436 | 26,686 |
| have been had the impair Investment income |
ment not pre |
viously been rec |
ognised. | ||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| 8 | |||||
| Income from investment | properties | 771,895 | 771,895 | 760,377 | 760,377 |
| Income from lease extensions | 62,220 | 62,220 | |||
| Bank interest receivable | 15 | 15 | 38 | 38 | |
| 771,910 | 771,910 | 822,635 | 822,635 | ||
| Investment management |
costs | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| Portfolio management | 100,037 | 100,037 | 37,961 | 37,961 | |
| Rent collection | 30,552 | 30,552 | 29,992 | 29,992 | |
| Property repairs and maintenance | 58,322 | 58,322 | 16,729 | 16,729 | |
| Mortgage interest | 99,802 | 99,802 | 103,416 | 103,416 | |
| Finance charges | 31,486 | 31,486 | 39,382 | 39,382 | |
| 320,199 | 320,199 | 227,480 | 227,480 |
| Expenditure | on charitable | Year ended 5April activities by fund type |
2022 | ||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| Grants to institutions | 178,100 | 178,100 | 781,350 | 781,350 | |
| Support costs | 8,831 | 8,831 | 4,599 | 4,599 | |
| 186,931 | 186,931 | 785,949 | 785,949 | ||
| Expenditure | on charitable | activities by activity type | |||
| Grant funding | Total funds | Total fund | |||
| ofactivities | Support costs | 2022 | 2021 | ||
| Grants to institutions | 178,100 | 178,100 | 781,350 | ||
| Governance | costs | 8,831 | 8,831 | 4,599 | |
| 178,100 | 8,831 | 186,931 | 785,949 |
| Analysis of | suppo | rt costs | |||||
|---|---|---|---|---|---|---|---|
| Legal and | |||||||
| other | Other | ||||||
| professional | Accountancy | finance | |||||
| fees | fees | Audit fees | costs | Total 2022 | Total 2021 | ||
| Governance | costs | 700 | 4,000 | 4,000 | 131 | 8,831 | 4,599 |
| Included in grants paid a |
re the following: | ||
|---|---|---|---|
| 2022 | 2021 | ||
| Grants to institutions | |||
| Amud Hatzdokoh Trust |
21,500 | 36,000 | |
| Asser Bishvil Foundation | 20,000 | 50,000 | |
| Chevras Mo'oz Ladol | 12,000 | 20,000 | |
| UTRY Limited | 10,000 | 75,000 | |
| United Talmudical Assocates Limited |
182,000 | ||
| Vyoel Moshe Charitable | Trust | 6,500 | 30,000 |
| Yesamach Levav | 10,000 | 20,000 | |
| Other donations below 630,000 |
98,100 | 368,350 | |
| 178,100 | 781,350 | ||
| Total grants | 178,100 | 781,350 |
| 2022 | 2021 |
|---|---|
| f. | 8 |
| 4,000 | 4,200 |
| Investment | ||
|---|---|---|
| properties | ||
| Cost orvaluation | ||
| At 6April | 2021and 5April 2022 | 8,953,727 |
| Impairment | ||
| At 6April | 2021and 5April 2022 | |
| Carrying At 5April |
amount 2022 |
8,953,727 |
| At 5April | 2021 | 8,953,727 |
| 2022f | 2021 | ||
|---|---|---|---|
| Trade | debtors | 265,696 | 355,121 |
| Other | debtors | 39,798 | 39,400 |
| 305,494 | 394,521 |
| Year ended 5April Creditors: amounts falling due within one year |
2022 | |
|---|---|---|
| 2022 | 2021 | |
| Bank loans and overdrafts | 904,040 | 200,000 |
| Accruals and deferred income | 43,089 | 75,964 |
| Social security and other taxes | 21,077 | 26,442 |
| Amounts due to connected undertakings |
92,276 | 175,192 |
| Other creditors | 49,839 | 47,798 |
| 1,110,321 | 525,396 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Bank loans and overdratls | 2,650,250 | 3,569,232 | ||
| 16. | Analysis ofcharitable | funds |
| Analysis ofcharitable funds Unrestricted funds |
||||
|---|---|---|---|---|
| At | At | |||
| 6April 2021 | Income | Expenditure | 5April 2022 | |
| f, | ||||
| General funds | 3,439,196 | 771,910 | (507,130) | 3,703,976 |
| Fair value reserve | 1,841,110 | 1,841,110 | ||
| 5,280,306 | 771,910 | (507,130) | 5,545,086 | |
| At | At | |||
| 6April 2020 | Income | Expenditure | 5 April 2021 | |
| 6 | 8 | 4 | ||
| 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 |
| Analysis ofnet assets | betwee | n funds |
|||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | ||||||||
| Funds | 2022 | ||||||||
| 8 | |||||||||
| Tangible fixed assets Current assets |
8,953,727 351,930 |
8,953,727 351,930 |
|||||||
| Creditors less than 1 year |
(1,110,321) | (1,110,321) | |||||||
| Creditors greater than | 1 year | (2,650,250) | (2,650,250) | ||||||
| Net assets | 5,545,086 | 5,545,086 | |||||||
| Unrestricted | Total Funds | ||||||||
| Funds | 2021 | ||||||||
| Tangible fixed assets | 8,953,727 | 8,953,727 | |||||||
| Current assets | 421,207 | 421,207 | |||||||
| Creditors less than 1year |
(525,396) | (525,396) | |||||||
| Creditors greater than | 1 year | (3,569,232) | (3,569,232) | ||||||
| Net assets | 5,280,306 | 5,280,306 | |||||||
| Financial instruments | |||||||||
| The carrying amount |
for each | category offinancial | instrument | is as follows: | |||||
| 2022 | 2021 | ||||||||
| Financial assets that | are debt instruments | measured | at amortised | cost | |||||
| Financial assets that are debt instruments | measured | at | amortised | ||||||
| Goat | 349,770 | 421,207 | |||||||
| Financial liabilities measured | at amortised | cost | |||||||
| Financial liabilities measured | at amortised | cost | 3,739,494 | 4,068,186 | |||||
| Analysis ofchanges | in net debt | ||||||||
| At | At | ||||||||
| 6Apr | 2021 | Cash flows | 5Apr 2022 | ||||||
| 8 | |||||||||
| Cash at bank and in hand | 26,686 | 19,750 | 46,436 | ||||||
| Debt due within one year | (200,000) | (704,040) | (904,040) | ||||||
| Debt due after one year | (3,569,232) | 918,982 | (2,650,250) | ||||||
| (3,742,546) | 234,692 | (3,507,854) |