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2021-04-05-accounts

Unrestricted Unrestricted funds
General Designated 2021 2020
Notes funds funds Total Total
Income E E F
Investment
income
- Rental income 2 9,322,877 9,322,877 10,146,215
- Bank interest 4,575 4,575 22,753
- Dilapidations 517,500 517,500 18,765
Total income 9,844,952 9,844,952 10,187,733
Expenditure
Costs ofraising funds 3 1,144,575 1,144,575 1,403,726
Charitable
activities		 4 6,327,075 6,327,075 6,559,070
Total expenditure 7,471,650 7,471,650 7,962,796
Net losses on property investments
Realised loss on disposal of investment property (3,000,000) (3,000,000)
Unrealised
loss		 on revaluation of
investment
properties		 7 (5,009,607) (5,009,607) (3,930,900)
Net expenditure (626,698) (5,009,607) (5,636,305) (1,705,963)
Transfers
between		 funds 19,384,962 (19,384,962)
Net movement in funds 18,758,264 (24,394,569) (5,636,305) (1,705,963)
Reconciliation of funds:
Fund balances brought forward 7,838,329 204,307,351 212,145,680 213,851,643
Fund balances carried forward 26,596,593 179,912,782 206,509,375 212,145,680

Unrestricted Unrestricted funds
General Designated 2020 2019
Notes funds funds Total Total
Income
Investment
income
- Rental income 2 10,146,215 10,146,215 8,829,681
- Bank interest 22,753 22,753 87,182
- Dilapidations 18,765 18,765
Total income 10,187,733 10,187,733 8,916,863
Expenditure
Costs ofraising funds 3 1,403,726 1,403,726 1,047,131
Charitable
activities		 4 6,559,070 6,559,070 6,682,754
Total expenditure 7,962,796 7,962,796 7,729,885
Net losses on property investments
Unrealised
loss		 on revaluation of
investment
properties		 (3,930,900) (3,930,900) (7,935,693)
Net income I(expenditure) &Net movement
in funds 2,224,937 (3,930,900) (1,705,963) (6,748,715)
Reconciliation offunds:
Fund balances brought forward 5,613,392 208,238,251 213,851,643 220,600,358
Fund balances carried forward 7,838,329 204,307,351 212,145,680 213,851,643

Notes 2021f 2020
Fixed assets
Tangible assets 7 178,530,082 203,580,264
Programme
related		 investments 8a 1,382,700 1,382,700
179,912,782 204,962,964
Current assets
Debtors 4,858,733 5,209,077
Cash at bank, including deposits 23,514,627 4,835,426
28,373,360 10,044,503
Creditors: amounts falling due within one year 10 (1,776,767) (2,861,787)
Net current assets 26,596,593 7,182,716
Total assets less current liabilities 206,509,375 212,145,680
Net assets 206,509,375 212,145,680
Unrestricted funds
Designated
funds		 11a 179,912,782 204,307,351
General funds 12a 26,596,593 7,838,329
206,509,375 212,145,680

Notes 2021 2020
E
Fixed assets
Tangible assets 7 178,530,082 203,580,264
Investments: Programme related 8b 1,382,700 1,382,700
Other 8b 2 2
179,912,784 204,962,966
Current assets
Debtors 4,858,733 5,209,077
Cash at bank, including deposits 23,514,627 4,835,426
28,373,360 10,044,503
Creditors: amounts falling due within one year 10 (1,776,769) (2,861,789)
Net current assets 26,596,591 7,182,714
Total assets less current liabilities 206,509,375 212,145,680
Net assets 206,509,375 212,145,680
Unrestricted funds
Designated
funds		 11b 179,912,782 204,307,351
General funds 12b 26,596,593 7,838,329
206,509,375 212,145,680

Notes 2021 2020
E
Cash flows from operating activities:
Net cash provided
by operating
activities		 14a 1,634,233 1,331,330
Cash flows from investing activities:
Interest receivable
&other		 income 4,575 22,753
Purchase of property,
plant		 and equipment (1,359,607) (580,900)
Proceeds ofsale of property, plant and equipment 18,400,000
Purchase ofprogramme
related
investments		 (75,000)
Net cash provided
by/(used
in) investing		 activities 17,044,968 (633,147)
Change
in cash and cash equivalents
in the		 reporting period 18,679,201 698,183
Cash and cash equivalents at the beginning ofthe period 4,835,426 4,137,243
Cash and cash equivalents at the end of the reporting period 23,514,627 4,835,426

Invest ment
income - Rental inc		 ome
Group Company
2021 2020 2021 2020
E
Rents receivable 9,322,877 10,146,215 9,322,877 10,146,215
Total rental income 9,322,877 10,146,215 9,322,877 10,146,215

Costs of raising funds Costs of raising funds
Group Company
2021 2020 2021 2020
Property expenses E
Repairs, rates and other non-
rechargeable
property		 expenses 2,151,731 1,081,173 2,151,731 1,081,173
Recovery ofexpenses previously expensed (1,868,580) (524,777) (1,868,580) (524,777)
283,151 556,396 283,151 556,396
Property management expenses
Agents'
management		 fees not recoverable 333,895 383,945 333,895 383,945
Agents'
rent review and		 letting fees 392,187 324,978 392,187 324,978
Legal expenses 135,342 138,407 135,342 138,407
861,424 847,330 861,424 847,330
Total property expenses 1,144,575 1,403,726 1,144,575 1,403,726
Charitable
activities
Group Company
2021 2020 2021 2020
F F
Grants payable (see note 5) 6,110,600 6,330,443 6,110,600 6,330,443
Indemnity
Insurance		 35,500 18,997 35,500 18,997
Consultancy
and professional		 fees 70,261 93,012 70,261 93,012
General office expenditure 56,606 60,605 56,606 60,605
Sundry expenses 324 4,311 324 4,311
Depreciation 182 287 182 287
Governance
costs (see		 note 6) 53,602 51,415 53,602 51,415
6,327,075 6,559,070 6,327,075 6,559,070

Grants payable
Group Company
2021 2020 2021 2020
F E
The Charles Wolfson Charitable Trust 5,800,000 6,300,000 5,800,000 6,300,000
In relation to medicine 4,600 4,443 4,600 4,443
In relation to education 3,000 3,000
In relation to welfare 306,000 23,000 306,000 23,000
6,110,600 6,330,443 6,110,600 6,330,443
An analysis ofgrants paid in the year is as follows: 2021f 2020
Education
Grants made ofless than E5,000 3,000
Medicine
Grants made ofless than E5,000 4,600 4,443
Welfare
Grants made of between F5,000 and E9,999 6,000
Grants made of between F10,000 and 849,999 23,000
Grants made ofmore than F50,000
Jewish Care 200,000
Work Avenue 100,000
310,600 30,443
Governance costs
Group Company
2021 2020 2021 2020
F F f
Audit fees 53,602 51,415 53,602 51,415

Tangible fixed assets
Group and Company Investment Office and
properties office
Freehold equipment Total
F F F
Cost or valuation
At 6April 2020 203,580,000 142,876 203,722,876
Additions 1,359,607 1,359,607
Disposal (21,400,000) (21,400,000)
Net loss on revaluation (5,009,607) (5,009,607)
At 5April 2021 178,530,000 142,876 178,672,876
Depreciation
At 6April 2020 142,612 142,612
Charge for the year 182 182
At 5April 2021 142,794 142,794
Net book value
At 5April 2021 178,530,000 82 178,530,082
At 5April 2020 203,580,000 264 203,580,264
Ifstated under historical cost principles,
th		 e comparable
amounts
for the investment
properties		 would be:
2021 2020
F
Cost 98,946,284 123,468,641

8. Investments
2021 2020
8(a) Group E
Cost: programme related investments
Brought forward 1,382,700 1,307,700
Further investments
made during the year (see note below)		 75,000
Carried forward 1,382,700 1,382,700
Programme
related investments:
Position at end ofyear:
Soza Health
Share capital: Ordinary shares 58 58
Otherloan
advances		 1,382,642 1,382,642
1,382,700 1,382,700
Carried forward 1,382,700 1,382,700
Movements
in year
Position at start ofthe year:
Soza Health Limited —share capital 58 58
—loan advance 1,382,642 1,307,642
1,382,700 1,307,700
Change
during the year
Soza Health Limited —share capital
—further loan advance 75,000
Movement
for the		 year 75,000
Total programme related investment carried forward 1,382,700 1,382,700

Company
2021 2020
Cost F F
Interest
in group undertakings		 (see note below) 2 2
Programme related investments (for detail see 8(a) above) 1,382,700 1,382,700
Carried forward 1,382,702 1,382,702
Interest
in group undertakings:
Country of Description Proportion of nominal
value
Name of undertaking incorporation ofshares held ofissued shares held by
Group Company
Heath Retail Holdings Limited England E1 ordinary 100% 100%
Heath Retail One Limited England F1 ordinary 100% 100%
The principal activity of Heath Retail Holdings Limited continued to be that ofa non-trading
holding		 company.
Heath Retail One Limited remained dormant during the year as it sold its properties to Benesco Charity
Limited
on 4 April 2011.
Debtors Group Company
2021 2020 2021 2020
F E
Due from managing agents 1,171,333 1,860,787 1,171,333 1,860,787
Rent arrears 1,821,356 894,114 1,821,356 894,114
Other debtors and prepayments 1,728,366 2,326,998 1,728,366 2,326,998
Amounts
owed from		 group undertakings 137,678 127,178 137,678 127,178
4,858,733 5,209,077 4,858,733 5,209,077

Group Company Company
2021
F		 2020 2021f 2020
Other taxes and social security 30,571 420,936 30,571 420,936
Amounts owed to group undertakings 2 2
Accruals and deferred income 1,727,672 2,440,851 1,727,672 2,440,851
Other creditors 18,524 18,524
1,776,767 2,861,787 1,776,769 2,861,789
Deferred income relates to a quarters rent received
in advance		 and amounted tof1,552,406 (2020:E2,265,58
11. Designated
funds
(a) Group Property capital fund
Realised Unrealised
surplus
on		 revaluation 2021 2020
disposal fund Total Total
E E
At 6April 2020 124,195,992 80,111,359 204,307,351 208,238,251
Realised loss on property sale in the year (3,000,000) 3,000,000
Movement due to revaluation in year (5,009,607) (5,009,607) (3,930,900)
Transfers between funds (20,866,926) 1,481,964 (19,384,962)
At 5April 2021 100,329,066 79,583,716 179,912,782 204,307,351
(b) Company Property capital fund
Realised Unrealised
surplus
on		 revaluation 2021 2020
disposal fund Total Total
E E
At 6April 2020 124,195,992 80,111,359 204,307,351 208,238,251
Realised loss on property sale in the year (3,000,000) 3,000,000
Movement due to revaluation in year (5,009,607) (5,009,607) (3,930,900)
Transfers between funds (20,866,926) 1,481,964 (19,384,962)
At 5April 2021 100,329,066 79,583,716 179,912,782 204,307,351
General funds
Group 2021 2020
E
At 6 April 2020 7,838,329 5,613,392
Realised loss on sale of investment property (3,000,000)
Transfers between funds 19,384,962
Net income 2,373,302 2,224,937
At 5April 2021 26,596,593 7,838,329

12. General funds (continued) funds (continued)
(b) Company
2021f 2020
At 6 April 2020 7,838,329 5,613,392
Realised loss on sale of investment property (3,000,000)
Transfers between funds 19,384,962
Net income 2,373,302 2,224,937
At 5April 2021 26,596,593 7,838,329
13. Analysis ofnet assets between funds
General Designated 2021
Group 2021 funds funds Totalf
Fixed assets 179,912,782 179,912,782
Current assets 28,373,360 28,373,360
Creditors (1,776,767) (1,776,767)
26,596,593 179,912,782 206,509,375
General Designated 2021
Company 2021 fundsf funds Total
Fixed assets 179,912,784 179,912,784
Current assets 28,373,360 28,373,360
Creditors (1,776,769) (1,776,769)
26,596,591 179,912,784 206,509,375
General Designated 2020
Group 2020 funds funds Totalf
Fixed assets 204,962,964 204,962,964
Current assets 10,044,503 10,044,503
Creditors (2,861,787) (2,861,787)
7,182,716 204,962,964 212,145,680
General Designated 2020
Company 2020 fundsf funds Total
Fixed assets 204,962,966 204,962,966
Current assets 10,044,503 10,044,503
Creditors (2,861,789) (2,861,789)
7,182,714 204,962,966 212,145,680