2021-09-30-accounts - Shlomo Memorial Fund Limited

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The key Suanc	ial perfannaace mdicators u	sed by the gmup are as faHow	si
		2021f	2020
Grants and donations paid		2278,750	2,790,600
Net inveslmeat	income	3,446,095	2344,771
Net gains an investments		1,035323	1,647,555
Net movemem	in funds —surplus	2,665,187	2,154,621
Total Funds		71,688,024	69,022,$37

					2021	2020
				Notes	Unrestricted Fends f	Unrestricted Foads f
Income and eadewmeals	from=
Donations sud legacies						18,000
Inveshneols					7,549,094	6,904,975
Other Income						5,190
Olher Trsdiag Activity					3,233,212	3,159,912
Total Income					10,782,306	10,0$8,077
Expeaditure oat
Investment Msoegcmeat Costs					4,102,999	4,660,204
Olher Trmhng Expmditme					2,218,030	2,024,477
Chsritsbte Acttvdies					2,349,082	2,854,946
Total Expendiitme					8,670,111	9,539,627
Gems and Losses onIaveshaenls
(Loss)/Ptotit oaSaleofInvesnuent		Properties		12	(223.553)	31,055
Surphs on Revaluation of
Investment Pmperhss					1,258,876	1,616,500
Net Gams oafav~					1,035,323	1,647,555
Net Income before Tar					3,147,518	2,196,005
				13	(482,331)	(41,384)
Net Income forthe Yesr	aad
Net Movuaamt ht.Fends				14	2,665,187	2,154,621
Reeoncgiation ofFnndst
Total Funds Brought Forward					69,022,$37	66,868,216
Total Fends Carried Forward					f71,688,024	I69,022,837
TheS~ofFinancial	Cttvtttm		includes all gains snd losses recognised ia the year.

				2021		2020
		Notes		f
FIXEDASSETS
Tangible Assets		15		184,118		199,132
Investment Properties		16		122.143.500		121,850.500
				122,327.618		]22.049,632
CURRENT ASSETS
Debtors		18	6.382,694		5.924.430
Cash at Bank and on Deposit			4302.052		3.184.065
			10,684,746		9.108.495
CRKDITORSt Amounts	falling
due within onc year		19	(2.670.250)		(3,477.606)
NiKT CURRENT ASSETS				8.014,496		5.630,889
TOTAL ASSETS LESS
CURRENT LIABILITIES				130,342,114		127.680.521
CREDITORS: Amounts	falling
due after more than one year		20		(57,452.425)		(57.938.560)
Provisions for Liabilities	d Charges	22		(1201.665)		(719,124)
NET ASSETS				671,688.024		F69,022,837
Thc funds ofthc charitable
Group:
Unrestricted Funds		23		71,688.024		69.022,837
				f71,688,024		f69,022.837

				2021		2020
		Votes				g
FLVKD ASSETS
Tangible Assets		15		11.586		15.448
lnvestmcnt propcrtics		16		73.715.500		7m550.000
lave. tmcnts		17		31,600,000		31.660,000
				i05,327,086		105.225,448
CURRENT ASSETS
Debtors		18	1,363,260		1325.648
Cash at Bank and on Deposit			2.032.953		959.139
			3.396213		2,184,787
CREDITORSt Amounts	gtlling
due within one year		19	(1.617,022)		(3.674.542)
NET CURRENT
ASSETS/(LIABILITIES)				1,779.191		(1.489.755)
TOTAL ASSETSLESS
CURRENT'LIABILITIES				107.106o77		103.735.693
CREDITORS: Amounts	failing
due after more than one year		20		(35.418,180)		(34,734,950)
NKT ASSETS				67L688.097		f69.000„743
The funds ofthe charitable
Company:
Unrestricted Funds		23		71,688.097		69,000.743
				X71,688.097		669,000,743

		2021	2020
	Notes		5
Cash Bows from operagag acgvbiest
Net cash used in oporatbR activities	25	(2,834,648)	(1,874,134)
Cash Saws from hrvsstbR acgvlttest
Interest mceived		296,531	190,334
Net reabtl income received		5,702,383	5,077,222
Purchase ofbmgible Sxed assets Purchase ofinvestmeat pmperhm Pmceeds Smn sale of~pmperties		(13,387) (4,008,033) 4,750,356	(34,301) (5,777,500) 180,055
Net cash provided by/(used ia)hnvesttag activibes		6,727,850	(364,190)
Cash Sown Sum Saancbrg acBvlgest
Innsest paid		(2,090,786)	(2,472,511)
(bsscsse)8ncresm in beak bmmwmgs ~(dememe) in other Iosa creditors		(441332) 22,341	7,157,046 (202,186)
Increase in ogrer loan debbns		(222,487)	(599,846)
Net cash (used ta)/provided hy Saaadag acBvtbes		(2,732,264)	3,882,503
Change ia cash aad cash~iathe year Cash and cash~atdm~oftbe year		1,160,938 3,141,114	1,644,179 1,496,935
Cash aad cash~attbe ead efthe year	25	54,302,052	53,141,114

The fallowing donatiom were made duriag lhe year ended	The fallowing donatiom were made duriag lhe year ended	30September 2
Bsciphmts ofInsgtatianal Grants
Ziv Hakehilla		241,000
Laycshsrim Tehilla		208,500
YadTomecM Lnizkak Batzafaa		121,000
BeerHa'olam		112,300
Melan Besser		104400
Ttorsbi Tzion Elit		70,000
Kupcn Tzdaka Leman Aniyei Eamal BetShamash		66,000
Amudei Ohm		65,000
Arucha tzuuna Bechol Yom		53,000
Yachsd Leman KolEchod V'echod		53,000
Lehava Shel Torah		49400
Meor HaTorcb		49,500
Ksraa Zichmn Sblamo Erelz Tisroel		44,000
Mnnsmahim Chased uMarpck		44,000
Obr Cbana		44,000
Shasrei Tehilla		44,000
BneiBsnim Mosdot Tmah Vecbinuch		39,600
Tehigas Shlomo Kerea Pmfessor EnricoV~Batya Levi Yissochm Behohcha		38,500 36,000 36,000
BaeiHayesbivot		35,000
Mosdot Tora Vsdaat Jerusalem	sad BetShamash	35,000
PearAvot		33,600
Ataret Avot		33,000
BaitVasd Lelimad Vechat Chaim		33,000
Birhat Horai		33,000
HaMercaz hTgom Cbatzos Hashutgm Lmndei veTomchai Tarsb Hilachdut Sham Otam Bet~		33,000 33,000 33,000
KolHaCbiauch		33,000

	FORTHE YEARENDED 30	FORTHE YEARENDED 30	FORTHE YEARENDED 30	FORTHE YEARENDED 30	SEFIEMBER2021
	CRANTS AND DONATIONS(~
	Recipients ofInstibstianal		Create
	Kollcl Yesbivss Yosef	Cbaim			33,000
	Mosdot baChinuch baYerosbalmi				33,000
	PaciYitzchak				33,000
	Pninei Torah				33,000
	Sbsarei Limud				33,000
	Yachad Besirochs				33,000
	Meomt Zvi				28,000
	Match Ahamn				27,000
	British Friends ofRies	tAhamn			26,000
	Anachnu Velzeitzainu				22,500
	Cbaim Vuchesed Organisation				18,000
	Priends ofMosdos Tmah				18,000
	Reshet Mosdot Baluayot Hadatiyot				18,000
	Aguda Lehacbzamt Torah Veyhados			Laan	13,500
	Cbasei Dov				13,500
	BeisHillel				12,000
	lgud Halmllegm				10,000
	Other donatioas (belaw	f10,000)			~58,500 20Q50
					2+78,750
10.	ANALSYIS OFGOVERNANCE			COSTS
					2021f	2020
	Auditor's rennrncrrdion				51,000	49,000
	Bookkeeping fees				4,358	3,307
	Bank charges				1,534	700
	Legal and pmfessronal	fees			13,370	6,163
	Geaeml expeases				70	5,176
					70,332

11.	STAlrg COSTSANII E	MOLUMENTS
			2021	2020
	The aggregam paymll costs for the Gmup vrmm		Unrestricted f	Funds f
	Wages aad salaries Social~		2,056,822 155,805	1,827,402 123,719
			~12,627	1,951,121
	The average number ofslaff employed by the Gmup during the Bnaneial year amounted to:
			2021	2020
	Number ofnursing sbdX Number ofa~e shdf		80 15	80 10
	Number ofmanagement	sbdf	5	6
			100
12.	(LOSS)/PROFIT ON SALE Olr INVESTMENT PROPERTIES
			2021	2020
			Unrestricterl	Fonda
	Net sale pmceeds		4,750,356	180,055
	Bookvalue ofproperties	sold	(4,973,909)	(149,000)
			(223,553)	31,055

The tax assessed on tbe net inco of 19'Yo(2020:19'Yi).	me forthe year islow	er gum the standard rate ofcmp	matioa tax in t
		2021	2020
		Unrestricted f	Fonda f
Net income before tax		3,147,518	2,196,005
Net inaane by rate oftar Income aed gams~gunn	tsx	598,028 (136397)	417,240 25,826
Expeosm uot deductible for em		2,345
Etfectofcspilal allowance aad	depreciation	(1,505)	(1,090)
Impact ofchange ia bor.rate		227,090
Timing ditfcauute cnanrealised	gains	135,946	(61,139)
Unused tsx losses cerned forwanl		2,167
Timing dithmmce ongilt aid		(365,469)	(332,633)
Effectofindexation on sale ofinvestmeuts		39,788	(3,620)
Other diffcrencm		(19,762)	(3300)
Tambon charge		482,331	41,384

TANGIBLE FIXEDASSETS
			llhrtor
			Vchklesf	Totalf
Cost
At 1October 2020	433,320	42,871	50,422	526,613
Additions	7,362	6,025		13,387
At 30September 2021		48,896	50,422
Delnacbagan
At 1October 2020	286,$27	25,129	15,525	327,481
Charge forSmYear	15,242	4,435	8,724	28,401
At 30September 2021		29464	24,249	355,$82
Net BookValse
At 30September 2021	13$,613	19332	26,173	184,118
At 30September 2020	146,493	17,742	34,$97	199,132
THE CObjIPANY
Cost
At 1October 2020 and st30September 2021				40,490
Iteprestarts n
Al 1October 2020				25,042
Cbarge fcrdm Year				3,862
At 30Sop@saber 2021				28,904
Net BookVabre
At 30September 2021				11,586
At 30September 2020				15,448

A smnmary ofturnover aad p	rogt or loss	for the year is sho	wn bdow for each	subsidiary ma	lertaldng:
			Nst Pragtl (L m)(~ t~C f		Net Praghr (Lam) f~sr ear 6
ClaadpremLtd	311221	60P14	58,732	{50,000)	8,732
Barhms Ltd Nmsara Ltd Obnm Ltd~Qae(~Lhl (~Ltd Smsrt Mart&a&ephsrmmLld Taltm thsmrrm Park Ltd The Mare Crane(~Ltd Vreaples Ltd	30.0921 30.0921 30.0921 3031921 30.0921 30.0921 31.1221 3031921 30.0921	171,781 lP&8,798 3233212 233,545	53P39 12815P&2 63&Pl& 96,7ISI 731 (2235) (5,742) (779P&4)	(75,000) (5&tk,ll00) (720,000)	(21P61) IP95P&2 (89P90) 96,700 731 (2235) (5,742) (trt64P&4)
Weymer Ltd	30.0921
Tbe assets, liabiTities, capital	and reserves	ofthe sobsidiary	norlerlaldngs are asfollows:
CtaadpomLtd	31.1221	?P08,668	(1,7S6P16)	521,722
Harhms Ltrl Nomen Ltd Olaam Lhl~Care(~Ltd ~Care Services (~Ltd &mmt~Pheon Ltd Taltm Basmess Pmk Ltd The hscre Ccshe(~Ltd Vreophn Ltd	30.0921 30.0921 30.0921 30.0921 30.0921 30.0921 31.12?1 30.0921 30.0921	?P17,185 18253,$35 34,$31,076 71&,756 2P37+60 lP1?P&2 14,411 6,46?„660	(1,753P06) (14,799P49) (9P05P31) (614,715) (316) (2P30P?0) (121292) (241PSS) (5P13,102)	764,179 3,453,866 25'r25rt45 104,041 (316) 7290 1,476P90 (226,977) 1,119,558
Weymer Lhl	30.0921	158P02	(174,126)	(16,124)

			The	CsnngalH
Bank Loans sad~ Amounts owed to GroupU~	2021 f. 426,731	2020 I 402,538	2021 f 617,996	2020 0 33,999 1,92&222
Rent and Service Charges
in Advance	621,$04	471,607	362,53$	239,713
Taxation md Social Security	256,519	243,990	106,$20
Other Creditors
snd Accruals	1,365,196	2,359,471	529,668	1,472,608
	2,670,250	3,477,606	1,617,022	3,674,542

basis that all sech gains will be applied fm chaitab	te purposes.
UNRSSTRICTF3I FUNDS
The Group
Bshnce at 1October 2020	69,022,837
Tolal Income for the year	10,782,306
Tolal Pxpsrutibxe for the year Net Gams oa~	(8,670,111) 1,035,323
	(482331)
Balance at 30September 2021	71,688,024
The Company
Balance at 1October 2020	69,000,743
Tohl Income fortbeyear	6,799,009
Tolal Bxpcrutttum fortbeyear	(4,667,414)
Net Gams an Investnumls	555,759
Balance at30September 2021	71,688,097

FINANCIAL INSTRUMENTS
		I~heG The		CompsiH
	2021 f		2020 f 2021	2020f
Financial asseS rernuned etfair salrre through arrests aud esperuhterc= Unlisted~(Note 17)			31,600,000	31,660,000
Fiumrcurl assets areesursd et
rest
Debtors (Note 18)	6,382,694		5,924,430 1,363Q60	1,225,64S
Financial ihslrYshcr measured at
cast
Creditors (Notes 19A20)	60,122,675		61,416,166 37,035402	38,409,492
NOTES TO THE CONSOLIDATEII STA1KMEFK		OFCASH PLOWS
Heconrdthrtton ofnetincome toaet cash Sorr from o		ars	scttsildm
			2021	2020f
Net iammc for the year			2,665,187	2,154,621
Adjustment fm=
Depreciation			28,401	25,522
Inmrest receivable			(302,687)	(216,647)
Net reseal iacome receivable			(5,702,383)	(5,077,222)
interest payable			1,956,037	2,434,848
Tsxation			482,331	41,384
Gains on investment assets			(1,035,323)	(1,647,555)
Uncreme)rdecresse in debtors			(229,621)	977,524
Decrease in creditors			(696,590)	(566,609)
			(2,834,648)	(1,874,134)
Taspaid
Net cash used ia operating acSridra			f(2,834,648)	f(1,874,134)

NOTES TO THE C	ONSOLIDA	TEDS	A~ OF CA	SH FLOWS
afcmb sad	cmb	Is
				2021f
Cash atbank aad m hand				4,302,052	3,184,065
Bask avmdndh					(42,951)
Total cash and cash	ipdvetmts			4,302,052	3,141,114
			At 1		At 30
			October		September
			2020		2021
			f.		f.
Cash and cash equivalents Bank~			3,141,114 (58,054,892)	1,160,938 441,332	4,302,052 (57,613460)
Loan debtors			3,305,669	222,487	3,528,156
Luau creditors			(243255)	(22,341)	(265,596)
			(5L$51364)	1,802,416	(50,048,948)
COMMITMKNTS UNDER OPERATINC			LEASES
As Lessee= At the Balaace Sheet	date, future	nduhmm	lease~payable by the gmup		under nun-caacollabl
bmses were	as follows:
					Z020
					f.
Within one year				424,218	382,308
ln two to Sveyaus				1,696,874	1,529,231
Morc tbsn Sve years				44,182,138	39,966,585
				46,303,230	41,878,124

At tbe llalaace Sheet date, futme mmmmm leases warn as follows:	lease paymeats payable to the gmup u	ader non-caacellab
	2021f
Within one year	3,812,713	3,$88,762
ln two to five years	10,317,425	11,15$,099
More than gve years	14,831,813	15,655,549
	28,961,951	30,702,410

		2021 Unresbicted Fends	2020 U~ Funds
		8
Income and eadmnnents	front=
Donations aud legacies		2,030,000	2,196,000
		4,769,009	4,215,028
		6,799,009	6,411,028
Expeaditure oa: InvesbnentM~ Costs		2,318,332	2,611,438
Charitable Acfivifics Grants and Donations ~Costs		?„278,750 70,332	2,790,600 64,346
Total Espeaditare		4,667,414	5,46M 84
Gobss and Losses on Investments
Loss on SaleofInvesbnent	Pmperties	(14,142)
Surplus on Revaluatiou ofInvestment Properties (Deficit)/Surplus on Rcvaluafion ofSubsidiary Und~		629,901 (60,000)	1,097,432 70,000
Net Gams oa invasbssenh		555,759	1,167,432
Net Income for the %ear	and
Net Movements ofFnads		2,687,354	2,112,076
Tohl Funds Brought Forvuud		69,000,743	66,S88,667
Tubal Fends Carried Forvuad		71,688,097	69,000,743

				2021		2020
				6
Reals and	Charges Receivable			4,768,989		4,214,673
Deduct: Pmperty outgoiags
			346,061		279,686
			95,564		87389
Light and	Bmt		211,180		271,308
Porterage	aad Cleaning		30,302		54,028
tnsmance			73416		120,891
Service Charges			20386		24,167
			51rt27		68,350
Legal and	Pmfessional	Charges	61rt97		34,885
Mmtagemeut Commission			294 rt25		276,498
Lethng Fees on —Pumitme		tbE~	3,S62		9,029 5,149
				(1,219,141)		(1,295WS)
				3,549,848		2,919,205