| Page | |||
|---|---|---|---|
| Trustees' | annual report |
||
| Independent auditor's |
report to the members | ||
| Statement | offinancial | activities | |
| 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 | 267685 | ||||
| Principal office | New Burlington | House | ||||
| 1075 Finchley | Road | |||||
| London | ||||||
| NW11 OPV | ||||||
| The trustees | Mr A Klein | |||||
| Mr 3 Sternlicht | ||||||
| Mrs Z Sternlicht | ||||||
| Auditor | Cohen Arnold | |||||
| Chartered accountants |
8r statutory | auditor | ||||
| New Burlington | House | |||||
| 1075 Finchley | Road | |||||
| LONDON | ||||||
| NWI 1 OPU |
||||||
| Solicitors | Bude Nathan | lwanier | ||||
| 1-2Temple Fortune Parade | ||||||
| Bridge Lane | ||||||
| London | ||||||
| NW11 OQN |
| Year end | ed 5April | 2023 | 2023 | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||||
| Unrestricted | |||||||||
| funds | Total funds | Total funds | |||||||
| rtote | f | ||||||||
| Income and endowments | |||||||||
| Investment | income | 4 | 767,625 | 767,625 | 771,910 | ||||
| Total income | 767,625 | 767,625 | 771,910 | ||||||
| Expenditure | |||||||||
| Expenditure | on raising funds: | ||||||||
| Investment management |
costs | 5 | (326,591) | (326,591) | (320,199) | ||||
| Expenditure | on charitable | activities | 6,7 | (170,288) | (170,288) | (186,931) | |||
| Total expenditure | (496,879) | (496,879) | (507,130) | ||||||
| Net income | and net | movement | in funds | 270,746 | 270,746 | 264,780 | |||
| Reconciliation offunds | |||||||||
| Total funds | brought | forward | 5,545,086 | 5,545,086 | 5,280,306 | ||||
| Total funds | carried | forward | 5,815,832 | 5,815,832 | 5,545,086 |
| 5April 2023 | ||||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| Note | f | |||||
| Fixed assets | ||||||
| Investments | 12 | 8,953,727 | 8,953,727 | |||
| Current assets | ||||||
| Debtors | 13 | 223,726 | 305,494 | |||
| Cash at bank | and in hand | 5,992 | 46,436 | |||
| 229,718 | 351,930 | |||||
| Creditors: amounts | falling due within | one year | 14 | (877,363) | (1,110,321) | |
| Net current | liabilities | (647,645) | (758,391) | |||
| Total assets | less current liabilities | 8,306,082 | 8,195,336 | |||
| Creditors: amounts | falling due after | more than one year | 15 | (2,490,250) | (2,650,250) | |
| Net assets | 5,815,832 | 5,545,086 | ||||
| Funds ofthe | charity | |||||
| Unrestricted | funds | 5,815,832 | 5,545,086 | |||
| Total charity | funds | 16 | 5,815,832 | 5,545,086 |
| Year | ended 5April 2023 | ||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Cash flows from operating | activities | ||||
| Net income | 270,746 | 264,780 | |||
| Adjustments for: | |||||
| Dividends, interest and rents from investments |
(767,431) | (771,895) | |||
| Other interest receivable and similar income |
(194) | (15) | |||
| Interest payable and similar |
charges | 158 | 130 | ||
| Accrued expenses/(income) | 13,755 | (32,875) | |||
| Changesin: | |||||
| Trade and other debtors | 81,768 | 89,027 | |||
| Trade and other creditors | 497,327 | (86,240) | |||
| Cash generated from operations |
96,129 | (537,088) | |||
| Interest paid | (158) | (130) | |||
| Interest received | 194 | 15 | |||
| Net cash from/(used in) operating activities |
96,165 | (537,203) | |||
| Cash flows from investing | activities | ||||
| Dividends, interest and rents |
from investments | 767,431 | 771,895 | ||
| Net cash from investing activities |
767,431 | 771,895 | |||
| Cash flows from financing | activities | ||||
| Proceeds from borrowings | (904,040) | (214,942) | |||
| Net cash used in financing | activities | (904,040) | (214,942) | ||
| Net (decrease)/increase in |
cash and cash | equivalents | (40,444) | 19,750 | |
| Cash and cash equivalents | at beginning | ofyear | 46,436 | 26,686 | |
| Cash and cash equivalents | at end ofyear | 5,992 | 46,436 |
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||||
|---|---|---|---|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |||||
| Income from | investment | properties | 767,431 | 767,431 | 771,895 | 771,895 | ||
| Bank interest | receivable | 194 | 194 | 15 | 15 | |||
| 767,625 | 767,625 | 771,910 | 771,910 | |||||
| Investment | management | costs | ||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||||
| Funds | 2023 | Funds | 2022 | |||||
| I: | ||||||||
| Portfolio | management | 83,161 | 83,161 | 100,037 | 100,037 | |||
| Rent collection | 30,168 | 30,168 | 30,552 | 30,552 | ||||
| Property | repairs | and maintenance | 66,890 | 66,890 | 58,322 | 58,322 | ||
| Mortgage | interest | 138,647 | 138,647 | 99,802 | 99,802 | |||
| Finance | charges | 7,725 | 7,725 | 31,486 | 31,486 | |||
| 326,591 | 326,591 | 320,199 | 320,199 |
| Expenditure | on charitable | Year ended 5April activities by fund type |
2023 | ||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| f | |||||
| Grants to institutions | 126,000 | 126,000 | 178,100 | 178,100 | |
| Support costs | 44,288 | 44,288 | 8,831 | 8,831 | |
| 170,288 | 170,288 | 186,931 | 186,931 | ||
| Expenditure | on charitable | activities by activity type | |||
| Grant funding | Total funds | Total fund | |||
| ofactivities f, |
Support costs | 2023 | 2022 f |
||
| Grants to institutions | 126,000 | 126,000 | 178,100 | ||
| Governance | costs | 44,288 | 44,288 | 8,831 | |
| 126,000 | 44,288 | 170,288 | 186,931 |
| 8. | Analysis ofsupp | ort | costs | |||||
|---|---|---|---|---|---|---|---|---|
| Legal and | ||||||||
| other | Other | |||||||
| professional | Accountancy | finance | ||||||
| fees | fees | Audit fees | costs | Total 2023 | Total 2022 | |||
| f | ||||||||
| Governance costs |
33,880 | 4,000 | 6,250 | 158 | 44,288 | 8,831 | ||
| 9. | Analysis ofgrants | |||||||
| 2023 | 2022 | |||||||
| Grants to institutions | ||||||||
| Amud Hatzdokoh | Trust | 50,000 | 21,500 | |||||
| Asser Bishvil Foundation | 20,000 | |||||||
| Alte Feiga Trust | 7,500 | 7,500 | ||||||
| Beis Ruchel Dsatmar | (London) | Limited | 10,000 | 5,000 | ||||
| Bnos Jerusalem | 10,000 | |||||||
| Chevras Mooz Ladol | 9,500 | 12,000 | ||||||
| UTRY Limited | 10,000 | |||||||
| Yesamach Levav | 1,000 | 10,000 | ||||||
| Other donations | below f7,500 | 38,000 | 92,100 | |||||
| 126,000 | 178,100 | |||||||
| Total grants | 126,000 | 178,100 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Advancement | ofJewish Education | 45,800 | 52,100 | ||
| Advancement | ofthe Jewish Faith | 38,100 | 62,350 | ||
| Relief ofPoverty | 42,100 | 63,650 | |||
| Total | 126,000 | 178,100 | |||
| 10. | Auditors remuneration |
||||
| 2023 | 2022 | ||||
| Fees payable | for the audit ofthe financial | statements | 6,250 | 4,000 |
| The charity did not meet any expenses (2022 ugnil) incurred the charity. Investments |
by trustees for services provided t |
|---|---|
| Investment | |
| properties | |
| Cost or valuation | |
| At 6April 2022 and 5April 2023 | 8,953,727 |
| Impairment | |
| At 6April 2022 and 5April 2023 | |
| Carrying amount |
|
| At 5April 2023 | 8,953,727 |
| At 5 April 2022 | 8,953,727 |
| Debtors | Year e | nded 5April 2023 | |||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Trade debtors Other debtors |
148,182 75,544 |
265,696 39,798 |
|||
| 223,726 | 305,494 | ||||
| Creditors: amounts | falling due within | one year | |||
| 2023 | 2022 | ||||
| Bank loans and overdrafts | 160,000 | 904,040 | |||
| Accruals and deferred income Social security and other taxes |
56,844 20,668 |
43,089 21,077 |
|||
| Amounts due to connected Other creditors |
undertakings | 592,276 47,575 |
92,276 49,839 |
||
| 877,363 | 1,110,321 | ||||
| Creditors: amounts | falling | due after more than one year | |||
| 2023 | 2022 | ||||
| Bank loans and overdrafts | 2,490,250 | 2,650,250 |
| Unrestr | icted funds |
||||
|---|---|---|---|---|---|
| At | At | ||||
| 6 April 2022 | Income | Expenditure | 5April 2023 | ||
| General funds Fair value reserve |
3,703,976 1,841,110 |
767,625 | (496,879) | 3,974,722 1,841,110 |
|
| 5,545,086 | 767,625 | (496,879) | 5,815,832 | ||
| At | At | ||||
| 6 April 2021 | Income | Expenditure | 5 April 2022 f |
||
| General funds Fair value reserve |
3,439,196 1,841,110 |
771,910 | (507,130) | 3,703,976 1,841,110 |
|
| 5,280,306 | 771,910 | (507,130) | 5,545,086 |
| Analysis | ofnet as | set | s between funds |
||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | ||||
| Funds | 2023 | ||||
| Tangible | fixed assets | 8,953,727 | 8,953,727 | ||
| Current assets | 229,718 | 229,718 | |||
| Creditors Creditors |
less than 1 greater than |
year 1 year |
(877,363) (2,490,250) |
(877,363) (2,490,250) |
|
| Net assets | 5,815,832 | 5,815,832 | |||
| Unrestricted | Total Funds | ||||
| Funds | 2022 | ||||
| L | |||||
| Tangible fixed assets | 8,953,727 | 8,953,727 | |||
| Current assets | 351,930 | 351,930 | |||
| Creditors Creditors |
less than 1 year greater than 1 year |
(1,110,321) (2,650,250) |
(1,110,321) (2,650,250) |
||
| Net assets | 5,545,086 | 5,545,086 |
| Financial instruments | Financial instruments | Financial instruments | ||||||
|---|---|---|---|---|---|---|---|---|
| The carrying amount for each |
category offinancial | instrument | is as follows. ' | |||||
| 2023 | 2022 | |||||||
| Financial | assets that are debt instruments measured |
at amortised | cost | |||||
| Financial | assets that | are debt instruments measured |
at | amortised | ||||
| cost | 227,558 | 349,770 | ||||||
| Financial | liabilities | measured | at amortised cost |
|||||
| Financial | liabilities | measured | at amortised cost |
3,346,945 | 3,739,494 |
| Anal | ysis ofchanges in net debt |
|||
|---|---|---|---|---|
| At | At | |||
| 6 Apr 2022 | Cash flows | 5Apr 2023 | ||
| Cash | at bank and in hand | 46,436 | (40,444) | 5,992 |
| Debt Debt |
due within one year due after one year |
(904,040) (2,650,250) |
744,040 160,000 |
(160,000) (2,490,250) |
| (3,507,854) | 863,596 | (2,644,258) |