2021-06-30-accounts - Rachel Charitable Trust

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			Page
Trustees'	annual report
Independent auditor's		report to the members
Statement	offinancial	activities
Statement	offinancial	position	10
Statement	ofcash flows		11
Notes to	the financial	statements	12

30June 2021.	30June 2021.
Reference and administrative		details
Registered charity	name	Rachel Charitable	Trust
Charity registration	number	276441
Principal office		Fourth Floor
		30Market Place
		London
		W1W 8AP
The trustees		MrLNoe
		Mrs SD No&
		Mr S Kanter LLBHons
		MrSMNod			(Appointed	31January 2022)
Charity secretary		Mr RChalk
Auditor		Cohen Arnold
		Chartered accountants		&,statutory	auditor
		New Burlington	House
		1075Finchley Road
		London
		NW11 OPU
Bankers		Metro Bank
		1 Southampton Row
		London
		WC1BSHA
Solicitors		Fladgate LLP
		16Great Queen	Street
		London
		WC2B SDG

				2021	2021	2020
				Unrestricted
				funds	Total funds	Total funds
			Note	5
Income and endowments
Donations and legacies			4	3,605,000	3,605,000	4,069,933
Investment income			5	2,074,620	2,074,620	1,791,971
Total income				5,679,620	5,679,620	5,861,904
Expenditure
Expenditure on raising funds;
Investinent management		costs	6	(1,104,773)	(1,104,773)	(1,930,809)
Expenditure on charitable	activities		7,8	(2,480,965)	(2,480,965)	(5,699,821)
Total expenditure				(3,585,738)	(3,585,738)	(7,630,630)
Net gain on investinents			10	1,957,974	1,957,974	(147,393)
Net income/(expenditure)				4,051,856	4,051,856	(1,916,119)
Impairment loss			12	(2,410,373)	(2,410473)
Net movement in funds				1,641,483	1,641,483	(1,916,119)
Reconciliation offunds
Total funds brought forward				18,840,601	18,840,601	20,756,720
Total funds carried forward				20,482,084	20,482,084	18,840,601

			Rachel Charitable	Rachel Charitable	Trust
			Statement ofFinancial		Position
			30June 2021
				2021		2020
			Note
Fixed assets
Tangible fixed assets			13		30,000	30,000
Investinents			14		34,754,369	37,534,975
					34,784i369	37,564,975
Current assets
Debtors			15	2,053,786		896,835
Cash at bank	aud in hand			2,183,919		985,230
				4,237,705		1,882,065
Creditors: amounts		falling due
within one year			16	(4,669,500)		(15,789,748)
Net current	liabilities				(431,795)	(13,907,683)
Total assets	less current liabilities				34,352,574	23,657,292
Creditors: amounts		falling due	after
more than one year			17		(13,870,490)	(4,816,691)
Net assets					20,482,084	18,840,601
Funds ofthe	charity
Unrestricted	funds				20,482,084	18,840,601
Total charity	funds		18		20,482,084	18,840,601

	Year	ended 30June 20	21
			2021	2020
Cash flows from operating	activities
Net income/(expenditure)			4,051,856	(1,916,119)
Adjustments for:
Net gains/(losses) on investments			(1,957,974)	147,393
Dividends, interest and rents from invesnnents			(1,644,129)	(1,115,365)
Other interest receivable and similar income			(1,605)	(929)
Accrued (income)/expenses			(582,193)	2,343,690
Interest payable			683,818	1,254,644
Changesin:
Trade and other debtors			(888,201)	173,272
Trade and other creditors			353,189	(78,035)
Cash generated from operations			14,761	808,551
Interest received			1,605	929
Net cash from operating activities			16466	809,480
Cash flows from investing	activities
Dividends, interest and rents from investments			1,513,486	1,230,987
Purchases ofother investments			(93,000)	(141,127)
Proceeds from sale ofother	investments		2,421,208	200,000
Net cash fmrn investing activities			3,841,694	1,289,860
Cash flows from financing	activities
Proceeds froin borrowings			265,000	4,389,000
Repayments ofborrowings Interest paid			(1,969,553) (954Jtl8)	(4,350,233) (1,289,230)
Net cash used in financing	activities		(2,659471)	(1,250,463)
Net increase in cash and cash equivalents			1)198,689	848,877
Cash and sash equivalents	at beginning	ofyear	985%0	136,353
Cash and cash equivalents	at end ofyear		2,183,919	985,230

4.	Donations a	nd	legac	ies
						Unrestricted	Total Funds	Unrestricted	Total Funds
						Funds	2021	Funds	2020
	Donations
	General Donations					3,605,000	3,605,000	4,069,933	4,069,933
	Donations received in the year include					f.154,000 (2020:581,118)from one ofthe trustees ofthe
	charity.
5.	Investment	income
						Unrestricted	Total Funds	Unrestricted	Total Funds
						Funds	2021	Funds	2020
							6
	Rental Income					2,073,015	2,073,015	1,791,042	1,791,042
	Bank Interest	Receivable				1,605	1,605	929	929
						2,074,620	2,074,620	1,791,971	1,791,971
6.	Investment	management			costs
						Unrestricted	Total Fttnds	Unrestricted	Total Funds
						Funds	2021	Funds	2020
	Management	costs				88,266	88/66	55,636	55,636
	Property repairs		and	maintenance
	charges					42,628	42,628	230,023	230,023
	Rates and insurance					42,037	42,037	37,263	37,263
	Legal &professional fees Other portfolio management				costs	225,637 22,387	225,637 22487	183,447 169,308	183,447 169,308
	Interest payable		and bank charges			683,818	683,818	1,255,132	1,255,132
						1,104,773	1,104,773	1,930,809	1,930,809
7.	Expenditure	on charitable			activities	by fund type
						Unrestricted	Total Funds	Unrestricted	Total Funds
						Funds	2021	Punds	2020
	Donations made					2,436,535	2,436,535	5,656,080	5,656,080
	Support costs					44,430	44,430	43,741	43,741
						2,480,965	2,480,965	5,699,821	5,699,821

nditure o	n charitable a	ctivities by activity type
		Grant funding		Total funds	Total fund
		of activities f	Support costs f	2021	2020
Donations	made	2436535	44 430	2&480i965	5,699,821

		2021
		I
The Kemach Foundation		698,612
The Rosin Sadagora Trust		230,000
Other donations	less than 6200,000	1,507t)23
		2,436/35

9.	Analysis ofsupport
			Governance
		Audit fees	costs	Total 2021	Total 2020
		f	f		6
	Support costs	11,094	33,336	44,430	43,741
10.	Net gain on investments
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
			I	6
	Gain on investments	1,957,974	1,957874	(147,393)	(147,393)

ofthe view that this may not be a permanent position and tha in the longer term. Tangible fixed assets	t value in the investment may return
	Land and
	buildings
Cost
At 1July 2020and 30June 2021	30,000
Depreciation
At 1July 2020and 30June 2021
Carrying amount At 30June 2021	30,000
At 30June 2020	30,000

be reliably measurable on a goi Investments	ng concern basis.
	Listed	Investment	Other
	investments	properties	investments	Total
				s
Cost or valuation
At 1 July 2020 Additions	14,601	31,650,000 93,000	5,870,374	37,534,975 93,000
Disposals		(75,000)		(75,000)
Fair value movements	4,767	(93,000)		(88,233)
Other movements			(300,000)	(300,000)
At 30June 2021	19,368	31,575,000	5,570,374	37,164,742
Impairment
At 1 July 2020
Disposals Iinpairment losses			(2,410,373)	(2,410873)
At 30June 2021			(2.410.3733	(24100733
Carrying amount At 30June 2021	19,368	31,575,000	3,160,001	34,754869
At 30June 2020	14,601	31,650,000	5,870,374	37,534,975

The listed share investments are valued at fair value based June 2021. Debtors	on stock exchange va	lue as at 30
	2021	2020
Trade debtors	1,323,138	679321
Prepayrnents and accrued income Other debtors	402,832 327,816	134,082 83,232
	2,053,786	896,835
Creditors: amounts falling due within one year
	2021	2020
Bank loans and overdralts	529,701	11,572,053
Trade creditors	315,486
Accruals and deferred income	72468	211,978
Social security and other taxes	133g57	96,254
Trustee's loan account	1,550,000	1,285,000
Other creditors	2,067,788	2,624,463
	4,669400	15,789,748

Credi	tors: amounts falling due after more tha	n one year
		2021	2020
Bank	loans and overdrafts	13433,240	4,260,441
Other	creditors	537450	556,250
		13,870,490	4,816,691

nalysis ofcha	nalysis ofcha	ritabl	ritabl	e	funds
Unrestricted		funds
						At			Gains and	At
					1 July 2020		Income	Expenditure	losses 30June 2021
						f		f	f
General	funds				18,840,601		3,269,247	(3,585,738)	1,957,974	20,482,084
						At			Gains and	At
					1 July 2019		Income f.	Expenditure f	losses 30June 2020 f.
General	funds				20,756,720		5,861,904	(7,630,630)	(147,393)	18,840,601
Analysis	ofnet assets				between	funds
									Unrestricted	Total Funds
									Funds	2021
									1
Tangible Current	fixed assets		assets						34,784,369 4,237,705	34,784@69 4,237,705
Creditors	less	than		1 year					(4,669,500)	(4,669,500)
Creditors	greater than				1 year				(13,870,490)	(13,870,490)
Net assets									20,482,084	20,482,084
									Unrestricted	Total Funds
									Funds	2020
Tangible Current	fixed assets		assets						37,564,975 1,882,065	37,564,975 1,882,065
Creditors Creditors	less than 1 year greater than 1 year								(15,789,748) (4,816,691)	(15,789,748) (4,816,691)
Net assets									18,840,601	18,840,601

20. Financial instruments	Year ended 30Ju	Year ended 30Ju	Year ended 30Ju	ne 2021	ne 2021
The carrying amount foreach	category of financial			instruinent is as follows:
					2021	2020
Financial assets measured at fair value through				income and expenditure
Financial assets measured at fair value through			income and
expenditure					34,784,369	37,564,975
Financial assets that are debt instruments		measured at amortised			cost
Financial assets that are debt instruments measured				at ainoitised
cost					4,237,705	1,882065
Financial liabilities measured	at amortised		cost
Financial liabilities measured	at amortised cost				18,539,990	20,606,439
21.Analysis ofchanges in net debt
						At
				At 1 Jul 2020	Cash flows	30Jun 2021
Cash at bank and in hand				985,230	1,198,689	2,183@19
Debt due within one year Debt due after one year				(11,572,053) (4,260,441)	11,042,352 (9,072,799)	(529,701) (13,333/40)
				(14,847,264)	3,168,242	(11,679,022)

As lessor
The total future	minimum	lease payments	receivable	under non-cancellable operating	leases are
as follows:
				2021	2020
					f
Not later than 1 year Later than 1 year and not Later than 5years		later than 5years		1,706,444 3,909,494 1,415/22	1,700,712 4,191,003 1,436,169
				7,031860	7,327,884

their servic	es at a discoun	ted charitable rate. The det	ails are as follows:
			2021	2020
Investment	Management	Costs	191,290	85,050
Property sale			1,250
Capitalised	Finance Costs		110,000	41,500
			302440	126,550

common with Rachel Charitable Trust. In addition, these charities in relation to their ongoing projects. The relevant details are as follows:	at the year end there were co	mmitments to
	Charitable	Charitable
	expendituret	commitments
The Kemach Foundation	677,032	362,148
Kemach Kidum Miktzoee Chareidi	259,608
Kisharon	63/50	60,000
	999tt90	422,148