Charity Registration No. 285533 Company Registration No. 01650188 (England and Wales) TRUMROS LIMITED (a company limited by guarantee) ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 *A98CVANN• 1610712022 cCPANIEs HOUS
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TRUMROS LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustegs H Hofoauer R Hofoauer Secrgtary H Hofbauer Charty numb*r 285533 C¢)mpany number 01650188 Principal and Registered office 282 Firthley Road H8mpstead London NW3 7AD Audltors Gefald Edelman LLP 73 Comhill London EC3V 3QQ B8nk•rs Royal Bank of Scotland Pic¢adilly Circus Bran¢h 48 Haymarket London SW1Y 4SE Uoyds 8ank 25 Gresham Street Lond] EC2V 7HN
TRUMROS LIMITED CONTENTS Pag• Trustees. report Statement of Trustees. ¥)nbIll.es Indep*ident auditorfs report Consolidated statement of financial aclivities Isolidate(1 balance Sheet 10 Stslement of consolidated cash flrnws Note5 to the consolidated accounts 12-26
TRUMROS LIMITED TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The Trustees presenl their annual consolidated report and accounts for Ihe year ended 31 December 2021 for the charity and ils subsidiaries. This feport meets the requirements ol a directors, report lorlhe purposes ofthe Cornpanies Act. The ffinancial statements Comply with ihe Charits"es A¢t 2011. the Companies Act 2006. the Memorandum and Arb"cles of Ass¢ei8b"on, and Accounting and RePo"n9 by Charib"es: Ststemenl of Recommended Practice applicable to thanties pparing their accounts in accordance Mth the Financial ReFM)rh"ng Standanl applicable in the UK and Republic of Ireland (FRS 1021 las amended for accounting periods eA)mmenaryJ from 1 January 20201. 'e¢tives and activrties The aim of the charity is lo advance religion in accorijance with the Orthodox je$ fatlh by providing charitable donab'ons regarding welfare, educab.on and medical requirements, more specificaly Ihe relief of poverty and supporting educational establishments. These aims are supported by the object5 of the charity a5 sel out in the memorandum and articles ol association. In line with the objects the charity fwJse5 it5 work in Isr8el and the UK. concenlralin9 Its slralegy on the f¢Jlowing prr4rammes carried out for Ihe public benefit= 11 The advancement of education. 21 The lief ol those in need. by wson of ywth. age. ill health. disability. ffinan(ial hardship or other disadvantage. 31 Other purposes Currently recognised as charitable. The ¢harity delivers its charitable aims as follows.. 11 Identification of witable PfoJe(ts and causes thrwh the existiThJ Truslees. contacts and by building new relationships wth a range of charifable oiganisab'ons intermediaries. 2) The calU1 review of. th extemal 8dvi( Whe necessary. levant applicab.ons laking 8CUJWIt. inter alia. of the importance of the tharitable wofk Ldertaken. the financtal stability of the organisat)n and the cornpetence of its managernent. 3) The monitoring of the application of all grnnts made by the tharity in Ihe hands of the recipient to ensure that these have been used for the purpose for which tw were made in an effiaent and cost effective way. 4) The monitoring of the investments of the tharity and. Tpknen deemed necessary. managing the portfolio with a vie to maintaining and, wherever pos&ble. improving the market value and irorne of ihe undertwng assets. The current grant pclicy of e charity is to distribvte. subject lo cashflow requ1MentS, a maximum of the annual income (befo Investment tuM$) of the Charity to beneficiaries and not to hdd income as serVeS unless a special project emerges which deserves addil]"onal support. The TnJstees welcome applications from any institution which meets the criteria sel ¢xrt above. The criteria lor assessing swcess in achieving the charity's vari¢ws aims is by reference to its annual acCOlts and. in particular, its 5tatemwl of financ4al acb'vities. Both of the Trustees take an extremety active role in the management of the charity lo enJrp. itq aims are fulfilled. Regular contact is made wrth many benefioaries in order to attempt lo eslablish tr needs of charities and the level of finanoal assistsnce that may be appropriate. Publi¢ benefit In setting ils programmes going forward. the charity has waro lo both the Charity Commission's gener81 guidance on public benefit 8nd pwenb.on ano lie1 of poverty for public benefit. The Trustees always ensure that the programmes undertaken are in line wilh Charis objects and aims.
TRUMROS LIMITED TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 The public benefits that flow from 8im {11 a.. lal an enhanced understaThJing and knedge of the 1mj0X Jwsh Faith and contiibuting towar(Is providing faalities to worship and sludy. The public ber*fi15 that flow from aim {21 are.. la) the prevention or relief ol pN)verty for those more disadvantaged. an(1 aiding Ih05e of a p8rticular ethnic of facial origin. age or disabilily, by enhawng quality of life and sense of well-being, leading to improvements in physical and emotional well-being. and a more stable and cohesive community The public benefits that flow from aim13) are those in accordance wth any olher charitable acb"vitie5 whKh are in aordance with the tharity's aims. Those thal benefit frcxn the above aims are the general public and locally-based comfflunity and voluntary organisations, in particular ¢hildrenlyoung people. people of a particular ethni¢ or racial 0ri9in ar other charibes or voluntary bodies Achievements and performance During the year ts charity distn"buted £791.496 (2020". £939.637) by way of grant in furtherance of its objective5 and for the publ benefit. It is the Oicy of the Trustees to continue to make charitable granis at a sirnilar level in fothcomin9 year5. The grants made were fcKused on the follong areas in line with the stated aims". 11 The advancement of etiOn. A lotal of £518.436 was paid to iThdJe.. Bell Hamidrash Abarbanel Ashdod £244,026. an edLKatirxial charity bosed in Israel. Beth Yosef Zvi £12.200. an educational charity based in USA. Friends of Bels CtNnLKh LeBonos £12.(Kb). a London based charity providirvJ the adV¥ement of Ort)dOX Jewish educab"on. Haskel school £11.000. an education tharity based in Gateshead, UK. Gesher £10.000, a Gateshead based scho. provides unique educab.on lo ¢hihJren and young people Mth special education needs. Torah Vhe$$ed £171,389. 0 London bosed charity tvo¥Kling buikling fadFties for edu¢ab"onal instilub"ons. Yeshiva Chochmal Shlomo £9,000, an educabonal charity based in Israel. Other small dmab.ons to charitsble entib.es totalling £48.821. 2} Ihe relief of disadvantaged persons by provision of medical and welfare support A tolal of £229,240 was paid lo include: AV Tfust £15.000. a welfare charity based in the UK. BEFORE Tru51 £19.OCQ. a welfare tharity based in UK. Chevras Mo'oslodol £26,000 and Chevras EJas Nizrothim £17.2Tr). a weHa Charity based in the UK.. KTV Trust £16,0(X). a medical charity base(l in the UK. Other small donabons to ¢tharitable entities lotalh'ng £153.240. 31 Other charitable payments lotalling £43,820.
TRUMROS LIMITED TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Financial revièw The nel illL>Jme for the year aMnted lo £112.167 (Nel expenditu in 2020". £434.086). The principal funding Sour continued to be from rental income whth in the year undef review amounted lo £1.143.179 {2020-. £1.122.003) which is congstent wlh last year {2020.' 2% in¢reasel. Rental income has increased slightly due lo new81 of leases dijring Ihe year. Total expenditure amounted lo £1,066,726 {2020.. £1,337,917) of whith Charitable expenditure amounted to £789.234 12020.. £939,637>. Property m8nagemenl costs were £277.492 {2020.. £398,280) and inc5tJded legal and professional fees of £8,57312020: £33.4631. FInae deueased to £49,456 {2020." £138.270). Overall nel property in¢ome inThsed to £865,64112020: £723.5371. The strategy of the charity has been to pursue an imiestmenl rK)licy whith would result in conlinuing and 5UStainable growth whilst maximigng the incryne funds aVailae for Chanble dLStn.bUti. Q4er time this has been achieved. The charity's stated investment pdicy is lo provide a low risk portfolio producing boih income and capital growtr. The Trustees. with the assisiance of their property advisors. conlinue lo review the group's property portfolio and the market place lo idenlty further suitsble OpptUnI.eS to maximise the value of Ihe assets helll_ Risk a55essment In lem)s of the pfinopal risks and uncerlainties f8owJ Ihe charity. like other companies with investment tKJrtfolios, investments can go down as well as up. The chanty has a prudent attitude to tsse risks and has objectives of long term investment in various asset dasses bul most nolabty real estate. Accordingly, ihe charity operates a straight and ts'ght management of its propety porttolio having regard to the challenge to always find suitable investrnent5 which have the required income yield whi151 ensuring as far as possible the protection ol capital. The Trustee5 have a55essed the major risks to whic* Ihe charity is extK)sed. in particular those lated lo the operations and finance of the Charity. arKI have developed a risk management strategy which involves the flOwIng.. - an annual review of the prirKipal risks and Wrtainb"e5 that the charity and ils subsidiaries face - the establishment of poliaes. systems and procedwes to mib'gate risks identified - the implementali of prdureS de5igne¢l lo minimise or mbnage any potential irnpacl on the charity should th¢yse risks materialise
TRUMROS LIMITED TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Structure. governar and rnanwjement The Ch81itable compary is a Comp linwled by guarantee and go¥emed by lis Memorandum and ArtKJe5 01 Assouation t1ated 12th J1 1982. The Trustees. #re so th¢ lh¢ of company ar T••tho sor1 ¢JuMg the year, were.. Hofbauer R Holbauer Non8 of the Tru5te85 ha5 any beneffiaal interest in the ccmpany. Al dlhè Trustees are rnernt ofthe company and guarantee to contrTrbute £1 in tr event of a winding UP. The Truslee5 rneel regularty to rnanage Ihe charitys assets and to d¢i•rnin¢ the aN(10ft ofeharitaUe distributions. They also d881 wilh the day to day rnan3effnt of Ihe chity. The Tnjstees are currentty wewrrfJ tho irtemal SYstn5 and pr¢)cesses of tt charity vAlh a vw4 to implemenb'ng updated Oi¢tes and predureS to enhance the charity's gov8manc• and regulatory eomkliance, whilst eontinuirnj to athseve the charity's objectives. After an extensive revthv of the grant making process of the charity. the TnJstee5 have de¢ided that they 11 insbgate Ihe fOnal of an indwenderrt Board in ortler to improve govemance in this a8. The temis of reference are n(A¥ beirJ agreed it 15 expected thal the Board %bYll ¢omm¢n¢e to s)PtrAt¢ in the near firture. The Truslees as a body have the rrtpwer to appoinl new Tnjsteès al th•"r discrèb"on. It Is the Oicy of the chairty to provide any new Trustees appxxnted ¥h ba(gnyJnd infonnab.on regarding ts affairs, including accwnts. in order that ihey can obtain a suffioent level of knrmledge lo enat4e Ihern to perform their roles effe¢bvely. Furlher training will be provided as thts is ¢¢lered 4yopriaie. The charity has vlholty owne0¢ subg'diaries. Emdastale5 Limited and J Mannir¥J Propertie5 (West Endl Lirniled. The subsidiaries are property dealirg and inve51rTEnt companies. whth gift thr wofits to the charity under gift aid. Pl8asè rèfer to note 9 to thè counts for fvrlher informats.on irtlL#1ing the for the yeaf under view. The Trustee5 have given lo Ihem iry the Memorandum ar AC$ dAsso(xation. to make any invèstment which they detemmne 1$ in besl inlerBsts ofth? charity al their absolutè th"scr&ts"on. Auditor Gerald Edelman LLP %4Ere app(Mnted a5 auditor to the grp a rBs(Aulion DJr) that thèy te rgapwmnted as authtor of Ihe ¢omp8ny will be a Gerral MeeJ"rg. Dlsclosure of Inforniallon to audltor Each of Ihe Trustee5 has confirmed that thefy is no infomaiion oftuch Ihoy a a%rarg %thich is Telev1 to the audit. bui of which thè audrtor is unaware. They hav• furthèr cfyifimied that they have tak apprcyriate steps to idenbfy such relevant infomMtson and to eslablish that the aUd[l a awa of sur* infomiation. Th$T tee$. P)rt was woved by the Boa ofTrust8es. RHO Trustee er Dated.. Iq. Ob IOZL
TRUMROS LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2021 The Tnjstees. who are also the director5 of Trumros Limiled for the purpose of company law. are sponsible for pieparing the TnJslee5' Report and the 8c£ounts in accordance wth applicable law and United Kingdom Accounting Stsn¢Jards {United KingsJ¢Jn Generalty Accepted Aceounb"ng Prn¢b'ce}. Compary Law requires the Trustees to prepare a¢¢ounts for ea¢h ffinanoal year which give a true and fair view ol the state of affairs of the Charitable company and its subsidiaries and of the incoming resources and application ol resoLtrces. induding the income and expenditure. of the Charitable company and subsidiaries for that year. In preparing these accounts. the Trustees a required to". - sal1 suitable accoLrnbn9 wlicies then Ihem consislenvy." - t*serye the mel$ and prin¢iples in the Charities SORP.. - make judgemwits and estimates that are reasonable and prlent. - stale whether applicable UK ACclnti Standards have been foll¢Md. subject to any m8teri81 departures disclosed and explained in the accounts: arTrJ - prepare the accounts on the going cLJneem bass unless il is Inappropriate to pSurne that the Charitable company will contirw in operation. The Trustees are responsible for keeping adequale accounting records Ihat disclose with reasonable accuracy at any time the financial pw'ticffj of ihe Charitable company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also re5POll5ie for safeguarding the assets of ihe Charitable company and hence for tsking 0$onable steps lor the prevenb.on aTrJ detects" of fraLwJ 8NJ other irwularib"e$.
TRUMROS LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TRUMROS LIMITED Opinion We have audited th8 financial statements of Trumros knmited Ilhe 'Charitable company.) for the year ended 31 December 2021 which compfise the statemenl ol financial activities. Ihe balare sheet. the stslement of cash flows and the note5 to the finana81 statements. including a sufflmary of sgnlficanl accounting polieie5. The financial reporting framework that has been applied in their preparabon is applicable law and United Kingdom Accounting Standards, including Financial Rep(¥ting Standard 102 The Financial Reports"ng Slandard applicable in the UK ar Republic of Iland (United Kingdom Generally Accepled AclAting Pra¢b"cel. In ¢)ur opini¢)n, the financial slalements". give a true and fair view of the state ofthe grwp aNI the Charitsble company's affairs as at 310ecember 2021 and of its incoming reSr¥Jr and application of resources. for the year then ended.. have been properfy prepared in accwlance with Uriled Kingdom Generally Accepted Accounting Practice: and have been Prepared in accordare wth ihe requirements of the Companies Act 2006. Ba$ls for opinion We ¢onducte(1 our audit in ae¢ofdan¢e with Inlemats'onal slar$ on Au¢Jib"ng IUKI {ISAs IUKII and applicable law. Our responsibilities under those standards a further described in the Auditor's responsibililies lor the atsdit of the financial statemenls section of our report. We are Independent of the Charitable company in accordance wth the ethical requirements thai are le¥aft1 to our audit of the finaral statements in ihe UK. including the FRC'S Elhical Standard. and we have fulfilled our other ethical respsmsibilib.es in a¢¢ord8nce th these requirements. We believe that the audit een we have obtained is th.ent and appropriate to provide a basis for ow opinion. Conclusions relating to going c(wKem In audiling the financial slalemenls, we have concluded that the use of the wrvJ concem basis of accounting in the preparation of the financial slatements is appr¢)priale. Based on the work we have perfonned. we have not Kjentified any malerial uncertainties relatsng to events or conditions that. individually or colleth"vely. may Cast gnifiCant tjoubl on the's ability lo conts.ntje as a going ¢oncem for a period of at least 1Ve months from wn Ihe financial statements afe aUthSed for issue. Our responsibilits'es and the responbIllI18$ of the re5pert lo going ¢oncem are debed in the relevant secb'LMS of this report. Other information The other information comprises the infomation included in tr* anr1 report olher than the financial stslements and our audilols rekxjrt Ihereon. The are responsible for the othw infomiab.on contained within the annual report. Our opinion on the financial statements does not coverthe other inforniab.on and we do not express any form ofassurance condusion thereon. Our responsibility is to read the other information and, in doing so. consder whether the other information is materially inconsistent wth the financial stalements or our kncmledge obtsined in the couise of the audit. or otherwise appears to be materialty misstated. If we identify SLKh material inconsistencies or apparent material misstslements. we are required lo determine whether this gives rise lo a malerial misstslement in the financial sts¢ements themselves. If. based on the work we have perfed. we conclLtde that Lhere is a material misstatement of Ihis other inforrnab'on. we are requi lo report that facL We have nothing to report in thi5 regard. Oplnions on other matters pr•scribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audiL the informatson given in the Trustees. Report, which indudes the directors, report prepared for the purposes of company law. forthe finanu41 yearforwhich the financial ststemenis are prepared 15 consistenlwith the financial statements,. and the directors, report induded wthin Trustee5' report has been prepared in accordance with applicable legal requirements.
TRUMROS LIMITED INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE MEMBERS OF TRUMROS LIMITED Matters on which we are required to report by exception In the light oflhe knoledge and understanding ofthe Charitablecompany and itsenvironmentobiained in the course oflhe audit. we have not entIfied material misststements in the direct(Ks' report in¢lu¢Jed within Ihe Trustees. report. We have nothing to rewt in Tespecl of the followng mattets in relalion to whith the Companies Act 2006 requires us lo report lo you if. in our opiniM= adequate ac¢ounling records have not been kept. or retums alequate lor Ouf audit have nol been received from branches nol vi51ted by us: or the financial slalements a nol in agreement with the ac¢ounling re¢ords and relums", or certain disdosufes of trustees. remunerabon speufied by law are not made: or we have not received all Ihe inlofrnation and explanab'ons we fequire for our audit., or the Trustees were not enbljed to prepare the finanrial slatements in accordance with the srnall companies regime and take advantage of the Small companies. eXemPnS in preparing the Trustee5' report and from the requirement to prepa a strategic report. Responsibilities of Trustees As explained more fully in the statement of Trustees. resPonbillties. the Trustees, who are also ihe directors of the Charitable company for the purpose of company law, are responsible for the preparation ol the financial slalements and lor being satisfied that they 9ive a true and fair view. and for SLKh intemal control as Ihe Trustees determine is necessary to enable the preparabon of financial statemenis thal a free from material missiatement, whether due to fraud or error. In preparing the financial siatements, the Trusiees are responsible for asses&ng the group and the Chafitable company's ability to continue as a wng eorwn. disclosing. as applicable. matters relaied to going concem and using the going concem basis of accounting ijnless the Trvslees either intend lo liquidate the Charitable company or to cease operations, or have rn realisb"c altemab.ve bul lo do so. Auditorfs responslbiliti•s for th• audit of th• financial slatements Our objectives are lo cbtain reasonable assuran atojt whether the financial statements a5 a whole are free from material misstalemenl, whether due lo fraud or error. and 10 Issue an avdil0rf5 report that inclLKles our opini(. Reasonable assurance Is a high level ol assuran¢e, bul is not a guarantee that an audit conducte¢J in accordance wtth ISAS {UK} will always detect a ma(erial misstalement when it exists. Misstatements can arise from fraud or error and are considered material if. indiwdually (Y in the aggregate. they could reasonably be ewled lo influence the ecorMiC decisions of users tsken on the bags of these finaw815tatements. Ig{lIaritIeS. irKludin9 fraud. are inslarw of non-o%npIiare with laws and regulations. We design produreS in line with our responsibilitses. outlined above. to detect matellal misstatements in iespect of irregularities. including fraud. The extent lo which our procedures a pable of detecting legulatreS. induding fraLJd. is detailed below. Our audit procedures were primarily direcled Icwards testing the accounting systems in operation which we hove based our assessment of the financid statements for Ihe year erKled 31 Decernber 2021. We planned OLJr au¢Jil so that we have • reasonable expectat of detecting material misstatements in the financial statements Su111r3 from ittegularib"es. fraud or rn<PIlare law or Ul8.0ft$. We planned our audit so that we have a reasonable expectation ol detecting material misstatements in the financia statements resultsng frcrfn irrewiariljes. frathd or n(KoMPlnce with law or regulaknons. Extent to which the audit was consid•r•d capable of det•cting irregularit. including fraud In identifying and assessing risks of material misstatement in respect of irregularitses, including fraud and non- eompliance with laws and gulatiOnS. wr predUS indthled the follcwir•J'.
TRUMROS LIMITED INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE MEMBERS OF TRUMROS LIMITED The engagement partner ensured that Ihe engagement team collecb.vdy had the appropriate competence, capabilities and skills to enb.fy or recognise nM-complian¢e with applicable laws and regulations_ Enquiring of managernent ol whether ihey are aware of any non-complian wth laws and regulation5. Enquiring of management whelher they have knowledge of any actual. suspected or alleged fraud. Enquiring of management their inlemal contrds established to mitigate risk relad lo fraud or non- compliance with laws and regulations. Discussions amongsl the engagement leam on lW an(J where fraud might occur in the financial siatemenis and any polentsal indicatOTS of fraud. As part of this discussion, we identified potenlial for fraud in the lollowng areas.. posting of unusual journals. Oblaining understanding of the legal and regulatory framewoth the Company operates in focusing on thos¥ laws and regulations that had a direct effect on the finan(ial statements or that had a fvndamental effect on ihe operations. The key laws and regulati¢)ns we congdered in this context indud8d UK Companies Act. tax Iwsl8tion,dala prolecbon, anb-bribery. employmenl arKI healih and safety. Audit r•ponse to rtsks Idontird Fraud due to manaqemenl ovenlde To atjdress the risk of fraud through management bi8s and override of¢ontrols. we- Performed analyts'cal procedures to idenb.fy any unusual or unexpected relatsonships. Au¢Jiled ihe risk of manawenl ovenide ol ojntrols. including through le5tsng journal entries for appropnaleness Assessed whether jijdgements and assumpts.ons fflade M determining the accounfing estimates set ¢xrt in note 2 were indicative of potential bia5: and Imiesligated the rationale behind ygnificant or unusual trartsacbons. Irregularities and non-complftance wittj laws and regulalions In response to the risk of irregularities and non compliance with laws and regulations, we designed procEdures which bnduded, but are ftol limited lo.. Agreeing financial statements drsclosures to undert"Tr9 supporttng documentation. Reviewng minutes of meeb'ngs of those charged with govemanee. Enquiring of management as lo actual and potenb.al lib"gation daims. Reviewng correspondence HMRC. The lest nature and olher tnherent limitslions of an audit. together th8 inherent limitati¢>is of any auntIng and inlemal control system, fflean that there is an Unavoidab risk that even some rnaterial misstatements in respect of irregulanlie5 may remain undiscovered even though the audit is property planned and performed in accordance with ISAS IUKI. Furthermore. the more removeil thal laws and regulab"Or are from finanoal transa¢tions. the less like that we would bewme aware of non-compliance. Our examtn81ion sttould thef¢e not be relied upcm to disdose all material mtsststements or frauds, eNors or instsnces of non-compliance that might exist. The respsIbIlity for safeguarding the assets of the chanty and for the prevention and detection ol traud. error and n0n-c0mplBn with law or regulatM)ns rests with the trustees. A fvrther description of our responsibililies for the audit of the finaal stalements is ICated on the Financial Reporting Council's website al.. http.'Ilvhww.frc.trg.ukJaudTrtorsresponsibilities. This description forms part of our auditorfs.ieport.
TRUMROS LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF TRUMROS LIMITED Other matters Your attention is drawn io the fact that the cJ)anty has prepared finawal statements in accordartce Wilh.Antsn9 and Reporbng by Charil'es: Ststemenl of Recommended Pfaclice applicable to charits preparing their accounts in 8¢eordancè wth ihe Finamal Reporting Standanl appli¢abfè in ihe UK arKI Republt of Iland IFRS 1021" las 8mendedl in prefenCe to the AcrA)unbThJ and ReportiNJ by Charities". Statemènt of Rmrnende Practice issued on 1 April 2005 which is refed to in the exlant regulab.S but has now been wrthdra%w. This has beèn dt>n• in for the fmancial slements Io PIDd# a and fair vivw in Accordance wrth current Generally Accepted AccountirYJ Practice. Us• ol our f•POrt This report is made solety to the Charitai48 cornprfs mgmtws. as a ty, in xcordarte Tmth Chapier 3 of Part 16 ofthè Companiès Aci 26. (r audrtwork has teen undertaken 50 that mw3hl slate lo the Charitat4è eompany's Mem15 those matters we are required to state tothem in an auditorfs 1ft for no other purptsse. To Ihe fullest extent pem)itted by taw. we do n¢X i orassume responsibility lo anyone otherthan the Charitable company and the Charilalje company's mem as a for our auditwork. for this report. or forthe opinions we have formed. Stsphen Colema nior Statutory Auoltw) fer and on behalf of Gerald Edèlman LLP Date.. 29 June 2022 Chartered Account#nlS Statutory Audltor T3 ComhiN L¢))don EC3V 3QQ
TRUMROS LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTNITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 me from: Investments 1.143.179 1.122.003 Total incorne 1,143,179 1,122.003 Ex nditure on-. Raisin funds Property management costs 277.492 398.280 Chafitable activib'es 789.234 939.637 Total •xp•nditur• 1.066.726 1.337,917 Net expenditure beforn investment retums 76.453 1215.9141 Nel gains on invesfments 13 35.714 650,CfvJO Net In¢omel Net movement irt lunds for the year 112.167 434.086 R•¢onciliation of funds Fund balances at 1 January 2021 10,110.428 9,676,342 Fund balance5 at 31 Decemb•r 2021 10,222,595 10,110.428 The con&Yidaled statement of financial activities also complies with the requioments for an income and expenditure account under ihe CompanFes Act 2LK)6. 10-
TRUMROS LIMITED CONSOLIDATED BALANCE SHEET AS A T 31 DECEMBER 2021 Group 2021 Group 2020 Charity 2021 Charity 2020 Flxed assets Invesiment proFefbes Inve$trn¢nts 14" 15 11363,335 12.313,335 75.600 75,eiK) 11.463,335 81,700 11.463.33S 81.700 12,438,935 12.388.935 11,545.035 11.545,035 Current assets Debtors Cash al bank and in hand 17 161.584 211.279 275.738 155,966 888,727 166,062 989,634 127.937 372,863 431.704 1.OM.719 1.117.571 Credltors: amounts falling du• wlthin ono year 19 {).7091 17&3.7191 1420,8231 1713.3171 Net ¢urrnnt assots1111ob1llltl (117W) 1332,0151 633,966 404.254 T¢)tal assets less current liabilities 12.321,089 12,056.920 12.179,001 11,949,289 Cr•dltors: amounts falling du• aft•r more than ¢ne ye•r 12.098,494) (1.946,4921 {1,866.4841 11.749,2981 Net ass•ts 10,222.S95 10,110,428 10.312,517 10,199,991 In¢ome funds Unregtricled funds General ntricted funds 10.222,595 10.110.428 10.312.517 10,199,991 10.222.595 10.110.428 10,312.517 10,199,991 The Trustees havo pPared gr(P accounts in accordance v•iih seciion 398 ofthe Companies Acl 2006 and sect 138 of the Charit*s Act 2011. These accwnts am prepared in acuxt1ar with the speoal FWOViSCnS of Part 15 of the Ci)rnpanies Act relatirg lo small ¢ompanies and ¢on5ttiuLe the nual accounts requYe(I by the Companies A¢t 2006 and are for ¢irrulation to memtrws of Ihe company. Thefi signe ancial staiements wern apFYoved lry the of and athIs8 for issuè on on its behalf by.. 2022 and are R Hofoauer Trustee ompany Reg5strntion No. 016501
TRUMROS LIMITED NOTES TO THE CONSOLIDATED FIANACIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2021 2021 2020 Cash flows from operating adivities Cash absorbed by opefalions Inte$1 paid 130.640 (46,684) (189,9281 {154.0001 Not cash oufflow from ¢)poratlng activities 1343,928) Investlng actlvities Purchase of investment Pfopety Proceeds of sale of investment property (so.000) [4,182} 3.100.000 Net cash used in investing activitses {50.000) 2.609.818 Fin•ncing activities Pfoceeds of new bank loans Repayment of bank loans 1.224.981 11.203.624) 475.125 {2.690.0381 Net cash g•n•rated froml(absorbed by) financing activities 21.357 12.214,913} Net increas•l{decreasel in cash and cash equivalents Cash and cash equivalents at begiming of year 55,313 50.977 155.966 104.989 Cash and cash •quivalerts at end of year 211379 155,966 Relating to: Bank balances and short-lerm deposi15 211.279 155.966 211.279 155,966 12-
TRUMROS LIMITED NOTES TO THE CONSOLIDATED FIANACIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 A¢¢ounting policies Company information TnJmros Limited is a private company limited by guarantee IrrpOrated in England and Wales. The registered office is 282 Finchley Road, Hampstead. London. NW3 7AD. 1.1 A¢¢ounting conv•ntion The financial statefflents have been wepared in acccKdaft with Charitable crxnpany's Memofandum ar Articles of Association, the Companies Act 2(bJ6 and 'Accounling and Reporting by Charities.. Sratemenl of Recommended Practice applicable lo tharities preparing their accounts in accordaree with ihe Financial Reporb"ng Standard applicable in the UK and Republic of Ireland IFRS 1021- las amendeo lor accounting periods commencin9 from 1 January 20201. The Charitable (x)mpany is a PutArc Benefit Eth'ty as defined by FRS 102. The finanoal statements have departed from Ihe charib.es (Accounts and Reports) Regulations 2008 only lo the extenl required to provide a true and fair view. This departure has involved following the Slatement 0¢ Recomrnended Pfactice for charities app.ng FRS 102 r8ther than Ihe version of the Statement of Recommended Practs"ce which 15 referred lo in the Regulab"ons bul whith has since been withdrawn. The finanoal statements are prepared in slerting. which is the functTronal crnCY of tt)e Charitable company. Monelary amounts in these finanoal stslements are n)unded lo Ihe rearest £. The finanaal statements have been prepared under the historical cost convenlion, modified to inclutje inveslmeni properties and certain finarKial instruments ai fair value...The principal accounb.ng policies adopted are set crt below. The charity is a company limited by guarantee rwstered in Ervjlantl arbj Wales. Group financial staternents The financial statements cwsolidate the results of ihe iarity and its wIlY owned subsi¢Jiaries Emdastales Limited and J Manning Properties (we Endl Lile M 8 I'r*-by4ine-b8sis. The subsitliaries have the same accounty.ng felefefice date. 1.2 Going concern At the ts.me of 8pprowng the financial stslements. tt)e Trustees have a reas(M)able expectstion that the group and the Charilable company has adequate resour5 to ntsnue in operational existence for the foreseeable future Accofdingly, the Trustee5 continue lo adopt the going concem bays ol &counting in pParing ihe financial statements lor the year ended 31 December 2021. 1.3 Charitable funds Unrestricted funds are avaiLable for use at the discretion ol the Tfustees in furtherance of their charitable objecknve5 unless Ihe funds have been designated lor other purkh)5es. 1.4 Incoming re$wr¢es Income is recognised when the Charitsble company is legèlly enbued to rt after any perfomance condib.ons have been mel. the amounts can be measured reliabty. and it is probatje that irKome will be recewed. 13-
TRUMROS LIMITED NOTES TO THE CONSOLIDATED FIANACIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Inlerest re1¥able Interesl on funds held on depo&t is when receivable aNI the amount can be rrSured reliably by the ¢harity,' this is norrnaily notification of the interest pa¥J or payable by the Bank. All other income is included M an awuals bags. 1.5 Resources exp•nd•d Liabilities a Tecogni5ed as resources expended as sn as there is a legal or constructive obligation committing tre tharity to the expen¢Jiture. 1 resources expended S accounted for on an accruals basis. Irrecoverable val is charged lo the expense to which it relates_ Charitable experKliture includes grants made to individuals and inslitutions which are included in the accounts when paid orwhen a fimi commitment 15 given to a charity priorto ihe balarwx 5heetd8te which is a constrlIVe obligats"on. The costs of raising funds a repertied by expenses attributsble to the management and letting of the propeity interests owned as well as bank interest on loans ub"lise(1 for th&r acquisition. 1.6 Investment properti•s Invesirnent properties, whith comprise freehold ar lea$ehd properties held to eam rentals andlor for catal 8ppreciation. are rneasu using the fair value model and ststed at their fair value as the reporb.ng end dale. The surplus or deficit on fevalualion is recA)gnised in nel incomellexpenditure) for the year. 1.7 Flx•d asset investments Fixed asset investrnents are initially ffleasured at transacti pr£ exduding transaction costs, and are subseouenuy mea511re¢J at fair value al each reporb.ng date_ Changes in fair value are re¢¢gnised in nel in¢omel(expendilurel for ts year. Transacb"on costs are expense(l as incurred. A subsidiary is an entity controlled by the Ch8riiable (ynpany. Control is the pTher IQ govem the financial and operating policies of Ihe entity so as to obtain benefits from its activities. 1.8 Cash and cash equivahnls Cash and 5h equiv81enls indude cash in harrtl. depots hehj ai C811 with banks. other short-lemi liquid investments wilh original maturiD"es of three ty less. and b8nk oveftlrafts. Bank overdrafts a shown wilhin tOwing$ in current liabililies. 1.9 Financial instruments The Charitable company has erected to apply the prowsions of Section 11 '8asic Finan¢i81 Instrumen15' an secb.on 12 '0ther Financial Instruments Issues. of FRS 102 to all ol its finanoal instruments. Financial instruments are renISed wthen the Charitable company becomes party to the coniractual provi&ons of the inslrumenl. Financial assets are offset. with the net am(xJnts psented in the accounts when there is 8 legally enforceable right to set off the fecognised amounts and there is an Intenti to setue on a net basis { lo realise ¢he asset and settle the liability *multanec¥Jsly. Basic financial assets 14-
TRUMROS LIMITED NOTES TO THE CONSOLIOATED FIANACIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Basic financial assets. which include deblots and cash ar bank balances. afe inib.ally measured al transaction price induding transaclion cosls and are yJJbsequenUy (arried at amorbsed cost ugng the effective inleresl meihcJ unless the arrangement conststutes a finanong transactson. where Ihe Iransaction is measured al tr preseni value of the luture receipis discounted at a market rate of inieresl. Finarrial assets classified as recwvable Mthin one year are not amorbsed. Impairnient of financial assets Financial assets. othef than those held atfairvalue thrjgh iwxneand expentlilure. a assewd for1ndlt0rs of impairment at each reporb.ng end date. Financial assets a impaired Whe [he FS objective evidence that. as a $It of one or more events that curred after the initsal rec(onition of the financial asset. the estsmaled future cash f¢ows have tjeen affecled. If an asset is Impaired, the impairmenl lo&s is the differen bets¥een Ihe carrying amount and the present value of the estimated cash flows disc(yJnted at the asseys onginal efftsVe interest rate. The impaiimenl loss is cryjniseo in irwme and expenditu. If there 15 a decrease in Ihe impairfflent loss arising Irn an evenl ctcurriThJ after the impaimenl wa5 reco9nise(J. the imp8irment is wetsed. The verSal is suth that the cUrn1 carying amount does not exceed what the carrying amount would have been. had Ihe impairment not pViouY been recognised. The impairment reversal is recognised in irrne arKt experKliture. Derecognition offfnancial assets Financial assets a derewnised onty when the contractual nghts lo Ihe fsh flows from the asset expire or are seltled, or when the Chariiable company transfers Ihe finanoal asset and substantially all the risks and rewards of ownership to another entity. or if some significant risks and rewards of ownership are retained but control of the asset has Iransfefret1 to another paty that is able to 5dl the asset in ils entirety lo an unielated third paty. 8•sic finan11¥•1)1llti•S Basic frnancial liabilities, induding cwitors and bank loans. are initsally recognised at Iransa¢¢ion price unless the arrangement constilutes a finanarg transaction. %there ihe debt instrument is measured at the present value of the future payment5 dI)Unted at a market rate of interesl. Financial liabilities classified as payable within one year a not amortbsed. Debt instruments are subsequenuy carried al amortised cost. usir*J the effe¢b"ve interest rate method. Trade credTrlors are obligation$ to pay for goods or services that have been acquired in Ihe ordinary course of operab'ons from suppliers. Amounts payable are dasgfiejj as current liabilities if payment is due within one year or less_ If r1. they are presented as nOrrrent liabilitses. Trade creditors are recognised inib.ally al Iransa¢b"on price and subsequentty measured al amortised cost UgrYJ the effKb"ve interest melhtsl. O•Y¢¢ognition of finan¢ial liatslilie$ Flnancial liabilitses a derecognised when the Charitable company's contractual obligations expire or are discharged or cancelled. 1.10 Operating l•ases Rentals payable uftder OFeratirwJ leases are Charged against income on a straighl h'ne basis over the teTm of the le8se. 1.11 Joint arranym•nts n•t entities 15-
TRUMROS LIMITED NOTES TO THE CONSOLIDATED FIANACIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 whe the Charitsble c¢)mpany enter5 into afrangemen15 for carrying out of ils trade with another party through a shared arrangement, the rnPany accounts lor its own share ol the asseis, liabilibes and cash flows in the j(xnt arrangement frasUrl according to the temis of the arrangement 1.12 Taxalion As a registefed charity the Chariiable company is exempt from taxation ¢)n its activities which fall within the Scope of secbon 505(1 l of the Taxes Ad 1988 and section 252 of the Taxatson of Chargeable Gains Act 1992. The policy of the subsidiary companies is lo donate the whole of any net profits arising to the Charitable mpany and therefore not to suffer any charge lo corporation lax. Cr5t5cal accounting estlmates and judgemènts In the applicats.on of the Charitable company's ac¢ountirwJ potirye$. the Trustees are required lo make judgernents, eStsmaS and assumptions about the car"n9 amount of asseis and liabilities thal are nol readily app3nI fr¢)m other source5. The esbmates and associated a5StJmptKJns are based on historical experience and other fa$ that are consdered to be leVant. Actual results may differ from these esb"males. estimates and undertwng assumptions are reviewed an ongoing basis. Revisions to accountir estimates are recognised in the period in which the estimate is revised where the viSIon affects only that . penod, or in the period of the revision and future periods where the viSIon affects both current and fulLJre periods. Key sour$ of est5matlon uncertainty The ests"mates and assumpb"¢)ns which have a signifi¢ant risk of Causing a material adjustment to the carrying amcNJnt of assets arKI liabilities are as foltows. lTrvestmont properties The group's investrnenl properbes, which are properties held to eam rentals andlor capital apprec¢ation, a measured using the fair value model and slated al th&'r fair value as al the ming dale. The Trustees have used their experience of the propety market and wth reference to infomal advice from Chartered SuNeyors and market evidence of transactson prices ol similaf properts"es, have assessed an appropriate value as 8t the reporting date. which they feel is liable and on a conservative basis. Investments 2021 2020 Rental income Insurance costs reimbursed Interest receivable 1.112.901 30.232 1.082.170 39,646 187 1.143.179 1.122.003 Ralslng funds 2021 2020 mana ement costs Other costs Support cosls (including governan) 233,613 35,306 330,376 34.441 16-
TRUMROS LIMITED NOTES TO THE CONSOLIDATED FIANACIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Legal and professional 8,573 33,463 277.492 398.280 Charitable •ctivities 2021 2020 Grants payable (see note 71 791.496 939.637 Support costs 2021 2020 Audit fees Acwuntancy fees 21.000 14.306 21.000 13,441 35.306 34.441 17-
TRUMROS LIMITED NOTES TO THE CONSOLIDATED FIANACIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Grart5 payable 2021 2020 AV Trust BEFORE Trusl Bels Avrohom Synawgue Belt Hamidrash Abafbanel Ashd Beth Yosef Zvi CEN Twst Care All Limited Chobad Israeli CTR Chevras Ezras Nizrochim Chevras Mo'oslodol CML GGBH Ezra U'marpeh Emuno Friends of Bels ChinLth LeborS Gesher Ch8ri18ble Trust Haskel sthool Keren Ab3nbanel Keren Habihyan i(rv Tnjst Kupas Tzedoko Vchesed Lolev Charitable Trust Mercaz Torah Vechesed Mer¢az HaTorah Belz Machnovka Mifalei Gevur8h Nancy Reuben Pnmary School One Heart Lev Ech¢x1 Pri GIdlM SOFT Shir Chesed Bas Torah Lishmah Torah Vcthes5ed YAM Yeshivat Chochmat Shlomo Various olher5 - wilh irHlividual value £S.000 15.000 19.000 12.000 12.500 650 361,059 264.000 12.200 23.000 12,000 12.000 17.200 26.000 16.000 44.500 5.000 27.000 10,000 12.000 10.000 11,000 30,000 5.000 10,000 16,000 10.000 26,000 360 47,500 10.000 13.920 9.59Q 14,542 30,000 10,000 23,860 20,000 10,000 72,646 20,000 15,909 108,111 12.250 171.389 9.000 104.107 791,496 939,637 18-
TRUMROS LIMITED NOTES TO THE CONSOLIDATED FIANACIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Charily SOFA Sumrnary In accordance wsth the requirements of the Statement of Recomended Practice ISORPI a separate summary of the results of the Charitable company Tnrnros Mited is presented below: Totsl 2021 Total 2020 Total incoming resour Cosls of generating funds Total charitable expendilufe 1.08Q.074 1211.766) {791.4961 1.071.238 {350,8061 1939,6371 Nel expenditure before investsnenl relums Revaluation of investment Prope.eS Gain on sale of investment property 76,812 35.714 (219,205 {413,061) 1.063,061 Nel movement in fijnds 112.526 430.795 Fund bolan¢es at 1 January 2021 10.199,991 9.769.196 Fund balanc•s at 31 t>ec•mber 2021 10.312.517 10,199.991 19-
TRUMROS LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2021 Subsidiary companies activlties The results of the charl$ subsidiary. Emdaslates Limited. as extracled from its audiled financial statements, are as follows.. Total 2021 Total 2020 Profit and Loss AcccwJnt Tumover Administrative expenses Interest receivable Intest payable 102,173 159.1331 98,184 143.779} (6348) 16,722) Profit for the year before charitable donab"tY)S Donatsons paid to parenl undertaknrg 36,794 (36,794) 47,732 {45.1031 Retained profil 2,629 Assets and Li Fixed assets Current assets Current liabrlib'es Liabilities falling due after more than one year 90O,IX>O 46,809 {798.5841 {232,011) 89],000 32.510 (769.1021 (197,1941 Nel abIlitieS 183.786) 183,786} Represented by.. Share Capitsl Profit and Ioss Teser¥es 100 (83.886) 100 183.8861 {83.786) 183,7861
TRUMROS LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Sthidiary companies activities {Conlinuod) The results oflhe charivs subsidiary, J ManniNJ Propwlies (West EThJ} Limited, as extracted from its 0jited finanrAal slatemenls. are as follows.. Total 2021 Total 2020 Profit and L05s Account Administrative expenses 1361) 13431 Loss for the yew 1361) 13431 Retain•d loss (361) 13431 t$ and Liabilitl Current assets Current liabilities 547 134.276) 607 {33.975} Net Liabilities {33,729) 133.3681 Repsented by. Share Capitsl Profil and loss reserves 6.000 {39.729) 6.000 (39,3681 133,729) 133.3681 10 Net expend11 for the year 2021 2020 This Is stated after charging: Fees payable to the CoMpanS aLKlitors for the aLKlit of the group's annual accounts Bank interest payable 21.OOD 43.208 21,000 138.270 11 Trustees None of the Trustees lor any persons COnrted them) received any remurwakn.on or benefits during the year. No expenses were paid lo the Trustees in the year. 12 Employees There were no employees during the year. 21
TRUMROS LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 13 Not gainsl(105$es) on in¥estm8nts 2021 2020 Rev81u81ion of investment properties Gain on sale of investrnent property 35,714 1413.0611 1,063,D61 35,714 650,000 14 Investm•nt Prop•rties Group Freehold L•as•hold Land and property tNildings Total Al 1 January 2021 Additions tlisposals Revaluation Transfer to leasehold propety 9.559.854 2.753.481 50.000 135,714) 35.714 {500.000) 12.313,335 50,000 135.7141 35.714 500.OC(J At 31 December 2021 9.109,854 3.253.481 12,363,335 Depreciation and irnpairment Al 1 January 2021 and at 31 Decembw 2021 Carrying amount At 31 Dec•mb•r 2021 9.109.854 3.253.481 12,363,335 At 31 December 2020 9.114.854 3.198.481 12.313,335
TRUMROS LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Charity Fre•hold Le•$ehold LafKI and propety buildings Total Cost Al t January 2021 Disposals Revaluations Transfer to leasehold property 9.114.854 2.348.481 135.7141 35.714 (S.()> 11.463.335 135,714} 35.714 5fM).000 At 31 December 2021 8.614.854 2,848.481 11.463,335 Depreciation and impaimi•nt Al 1 January 2021 and at 31 December 2021 Carrying amount At 31 December 2021 8.614.854 2.848,481 11.463.335 At 31 Dernber 2020 9.114,854 2.348.481 11.463,335 14 Inv•stment Properties IC¢ntinu•dl The lair value ol the investmeni properties has been arrived at on the basis of a valuation caryied out at 31 December 2021 by the Trustees. wilh reference lo informal advice taken from a fim of Chartered Surveyors, who are not connected wilh the Ch8rit8ble Company. The valuation was made on an cw market value basis by referen to market evidence Ctf transaction prices tor similar properbes. If investment property.es were slated on an historical cost basis ralher than a fair Value basls. the ¢arryin9 amounts would have l)een Iuded as £13.404.49612020: £13.354.496). 15 Fixed asset inv•stm•nis Group 2021 Group 2020 Charity 2021 Charlty 2020 At Cost Investments in subsidiaries Other imieslments 6.100 75.600 6,11)) 75,600 75.600 75.6ts) 75.600 75,6 81.700 81,700 -23-
TRUMROS LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 16 Flnan¢lg1 instruments Group 2021 Group 2020 Charity 2021 Charity 2020 Carrying amount ol financial assets Debt instnjments measured at amorts'sed cost Equity instrumenis rneasur at cost less impairment 143.978 257.108 873.259 938,678 6.100 6.100 143.978 257.108 879.359 944.778 Carrylng amount of financial liabilities Measured at amortised cost 2,555.579 2,464,223 2,029.925 2.140,614 17 Deblors Group 2021 Char 2021 CharSty 2020 2020 Amount$ falllng due wllhin on• yo•r: Trade debtors Amounts due from subsidiary undertakings Amtyjnts due from joint Yenlures Other debtors PpaymentS and aCcd irorne 104,259 148.835 104359 729,281 21,WJ 18.150 15,468 145.835 718,985 21.569 18.150 17.606 108.274 18.629 108,274 16,540 161.5B4 275.738 88B,727 989,634 16 Loans and overdrafts .Gmp 2021 Group 2020 Charlty 2021 Charlty 2020 Bank overdrafts Bank loans 2263,849 2.258.205 1.996.488 2,038,080 2.263.849 2.258.205 1.996.488 2.038.080 Payable wilhin one year Payable after on¢ year 163,355 2.098.494 311.713 1.946.492 130.004 1.866.484 288,782 1,749,298 The bank loans are se(yJred by fixed charges over the inveslmenl properbes vHned by the charity and its subsidiaries. -24-
TRUMROS LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 19 Creditors: •mounts f•lllng due within one year GrP 2021 Group 2020 Charity 2021 Charity 2020 Loans and overdrafts Other 18xation and swal security Trade Cfeilitors Other creditors Accruals and deferred incry 165,355 33.624 3,047 52.010 236.673 311.713 32,937 54.940 126.127 238.CK)2 130,004 32,824 613 42.781 214.601 288,782 31,816 49,050 126,126 217.543 490.709 763,719 420.823 713.317 20 crlIr$. amounts falling du• aft•r moro Ihan on• y•ar Group 2021 Group 2020 Charity 2021 Charity 2020 Loans and overdrafts 18 2,1)98.494 1.946.492 1.866.484 1.749.298 21 Deferred income 2021 2020 Rental and insurance income 209.775 195.874 209,775 195.874 Oeferred income is included in the financial statements as foll¢y•VS'. Current liabilities 209,775 195.874 209,775 195.874 22 Share capitsl The Charitable company is limited by guarantee and has no share capital. Each member guarantees lo Contribute £1 in the event of a winding UP. -25-
TRUMROS LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 23 Funds Below shows the movemeni of the unreslricted funds indude the revaluation serVe. Movement in furmts Incorn• Exp•nditure Revaluations. gains and Balance at 1 January 2021 Trnnsf•rs Balance at 31 December 2021 Genernl Funds Revaluation reserye 10.110.428 1.143.179 {1,066.726) 10.222.595 10,110,428 1.143.179 {1.066.726) 10,222.595 24 Op•rating l•ase ¢ommilmefits Al the reporting end date ihe group had outstanding commitrnents for future minimum lease payments under non<ancellable operatirKJ leases. which fall as fdlovts.. 2021 2020 Within one year Between tsyo and five years In over five yeafs 13.500 54.000 20.250 13.500 54,000 33.750 87.750 701.250 24 Operating kase ¢ommitm¢rts Lessor Al the reporting end dale the Charitable Mpary had contracled with tenants for the follwng minimum lease paymenls: 2021 2020 Wthin one year 8etsYeen and five year5 In over five years 708,954 2,338,810 1.360,508 864,563 2,586,283 1,823.166 4408.272 5,274.012 -26-
TRUMROS LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 25 R•lat¢d party tran&Ktions Included in debtor5 is £613 lin credrt(M5 in 2020.. £27.5871 owed by W15pfDle Invesknents Limited. ¥ company in which R Holbauer and H Holbauer are directors. Included in creditors is £nil (2020: £20.0001 due to R Hr)Ibauer. a trustee of the Charilable company, and immediat& family members. No guarantees have been g'ven or received. The company has taken advantage of the exempbM in FRS102 from the qUirement to disclose transactions with group companies on the grounds that it ppareS consolidated finala1 statements. 26 Subsidiarie5 Name of undertaking •nd country ol incorp¢fation ¢y re$iden¢y Natur• of business Class of shareholding % Held Dir•¢t Indirect Emdastates knmited ErrfJland and Wales England ar Wales Property inveslment Ordinary J Manning Properties (West Endl Limited Dom)ant company Ordinary 11Y) 27 Cash g•n•fat•d frorn operations 2021 2020 IDeficitySurplus for the year 112,167 434.086 Adjustments for. Revalualion of investmenl proWies Sale of investment property Finance costs Loan fee amorti5ation (35,714) 413,061 11,C63.061) 138.083 15,917 46,508 176 Movements In working capitsl.. Oecfeasellincreasel in debtors IDecre8seylncre8se in ditOrS 135.723 (128220) (284,9911 156.977 Cash al>sorbed by Qperntions 130.640 1189,9281 -27-