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2021-03-31-accounts

PAGES
Trustees'
annual
report (incorporating		 the director's report) 1to 5
Independent auditor's
report to the members		 6to 10
Consolidated statement offinancial activities (including the
consolidated income and expenditure account)
Consolidated balance sheet 12
Charity balance sheet 13
Consolidated statement ofcash flows 14
Notes to the financial
statements		 15to32

F ORTHE Y EARE NDED 31MARCH 2021 NDED 31MARCH 2021
2021 2020
Unrestricted Funds Unrestricted Funds
Note f.
Income and endowments
Trading activities 19,910 16,680
Investment
income:
Rent and charges receivable 1,287,099 1,534,215
Interest receivable and similar income 148,555 236,763
1,435,654 1,770,978
Total income 1,455,564 1,787,658
Expenditure
Expenditure
on raising funds:
Trading costs 6 11,155 (916)
Investment
management		 costs 7 (393,925) (422,588)
Expenditure
on charitable		 activities 8,9 (1,184,836) (1,734,809)
Taxation 11 (896,070)
Total expenditure (1,567,606) (3,054,383)
Net gains on investments:
Gains on revaluation
of		 investment
property 1,502 1,969,445
Gains on disposal ofinvestment
property
1,502 1,969,445
Net income I(expenditure) and net
movement
in funds		 (110,540) 702,720
Reconciliation offunds:
Total funds brought forward 41,299,351 40,596,631
Total funds carried forward 23 41,188,811 41,299,351

2021 2020
Note
FIXEDASSETS
Investments 16 38,126,844 38,082,226
CURRENT ASSETS
Stocks 49,000 49,000
Debtors 18 7,722,729 6,537,709
Cash at bank and in hand 14,997,047 14,901,861
22,768,776 21,488,570
CREDITORS: amounts falling due
within one year 19 (12,023,043) (10,312,659)
NET CURRENT ASSETS 10,745,733 11,175,911
TOTAL ASSETSLESS CURRENT
LIABILITIES 48,872,577 49,258,137
CREDITORS: amounts falling due
after more than one year 20 (3,901,766) (4,176,786)
PROVISIONS 22 (3,782,000) (3,782,000)
NET ASSETS 41,188,811 41,299,351
FUNDS OFTHE CHARITY
Unrestricted
funds		 23 41,188,811 41,299,351
Total charity funds 41,188,811 41,299,351

BALANCE S HEET ASAT31MARCH 2021
2021 2020
Note g
FIXEDASSETS
Investments 16 25,223,000 25,642,000
CURRENT ASSETS
Debtors 18 727,991 732,778
Cash at bank and in hand 14,676,051 14,425,043
15,404,042 15,157,821
CREDITORS: amounts falling due
within one year 19 (39,903) (39,216)
NET CURRENT ASSETS 15,364,139 15,118,605
NET ASSETS 40,587,139 40,760,605
FUNDS OFTHE CHARITY
Unrestricted
funds		 23 40,587,139 40,760,605
Total charity funds 40,587,139 40,760,605

2021 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (110,540) 702,720
Adjustments
for:
Net gains on investments (1,502) (1,969,445)
Dividends,
interest and rents from investments		 (1,287,099) (1,534,215)
Interest receivable
and similar income		 (148,555) (236,763)
Payments
for expenditure
on investment		 properties 95,109 165,221
Interest payable and similar charges 168,314 197,031
Current and deferred tax 896,070
Decrease in stock
Changes in:
Trade and other debtors 191,615 430,872
Trade and other creditors (189,100) 293,078
Cash generated
from operations		 (1,281,758) (1,055,431)
Interest received 114,740 328,635
Net cash used in operating
activities		 (1,167,018) (726,796)
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends,
interest and rents from investments		 (68,711) 1,258,529
Cash receipts from the repayment
ofadvances		 and loans (55,982) (1,233,885)
Purchases ofother investments (39,412) (2,182,467)
Proceeds from sale ofother investments
Payments
for expenditure
on investment		 properties (95,109) (165,221)
Net cash from investing
activities		 (259,214) (2,323,044)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings 1,689,738 650,888
Repayments ofborrowings
Interest paid (168,320) (197,371)
Net cash used in financing
activities		 1,521,418 453,517
NET INCREASE /(DECREASE) IN CASH AND CASH
EQUIVALENTS 95,186 (2,596,323)
CASH AND CASH EQUIVALENTS AT BEGINNING OF
YEAR 14,901,861 17,498,184
CASH AND CASH EQUIVALENTS AT END OF YEAR 28 14,997,047 14,901,861

TRADING ACTIVITIES
Unrestricted Funds
2021 2020
Income from trading properties 19,910 16,680
Other trading income
19,910 16,680
TRADING COS TS
Unrestricted Funds
2021 2020
Trading property costs (11,155) 916
Other trading costs
(11,155) 916

Unrestricted Funds
2021 2020
Investment property outgoings 95,109 165,221
Management and administration 130,502 60,336
Interest payable 168,314 197,031
393,925 422,588

EXPEN DITURE ON CH ARITABLE ACTIVITIES BYFUND TYPE
Total Total
Unrestricted Funds Unrestricted Funds
Funds 2021 Funds 2020
Grants paid 1,166,500 1,166,500 1,702,150 1,702,150
Support costs 18,336 18,336 32,659 32,659
1,184,836 1,184,836 1,734,809 1,734,809

Grant Total Total
funding of Support Funds Funds
activities Costs 2021 2020
g g
Grants paid 1,166,500 1,166,500 1,702,150
Governance costs 18,336 18,336 32,659
1,166,500 18,336 1,184,836 1,734,809
ANALYSIS OF GRANTS
2021 2020
GRANTS TO INSTITUTIONS
Support ofeducation and relief ofpoverty 1,166,500 1,702,150
Total grants 1,166,500 1,702,150

All gmnts
and donations
were paid to charitable
institutions
for
advancement
ofeducation or the relief ofpoverty.
The composition ofdonations
is shown below:		 the purposes ofeither
Zichron Nachum
(Europe) Trust		 165,000
Vishnitz Girls School Limited 100,000
Friends ofMercaz Hatorah Belz Macnivka 75,000
Keren Hatzolas Doros Alei Siach 75,000
Friends ofBeis Chinuch
Lebonos Trust		 60,000
Belz Foundation
Ltd		 50,000
Chasdei Aharon Limited 50,000
Friends ofWiznitz Limited 50,000
Rise and Shine 50,000
Tchabe Kollel Limited 50,000
Yeshiva Gedolah Torah Veyirah Seven Oaks Limited 50,000
British Friends ofMosdos Tchernobel 40,000
Comet Charities Ltd 34,000
Friends ofBeis Soroah Schneirer 30,000
Mifal Hachesed Vehatzedokoh 30,000
Sundry donations 257,500
1,166,500

2021 2020
g g
Deferred taxi
Origination and reversal oftiming differences 891,000
Current tax:
Prior year adjustment 5,070
Taxation 896,070

tax in the UK of19 %(20 20:19 %).
2021 2020
I,
Net income before tax (110,540) 1,598,790
Net income by rate oftax (21,003) 303,772
Income exempt from tax (24,770) (26,495)
Expenses not deductible for tax purposes 240,269 333,156
Timing differences on unrealised gains (286) 516,804
Timing differences on Gift Aid payments (194,314) (240,517)
Unused tax losses 182 4,280
Other differences (78) 5,070
Taxation 896,070

Net i ncome i s sta ted after chargin g/(creditin g):
2021 2020
Fees payable for the audit ofthe financial statements 17,600 26,400

INVESTMENTS
Unlisted Investment
Group Investment property Total
g g
Fair value
At 1 April 2020 1 38,082,225 38,082,226
Additions 50 43,066 43,116
Disposals
Fair value movements 1,502 1,502
At31March 2021 51 38,126,793 38,126,844
Freehold Shares in
investment group
Charity property undertakings Total
g g
Fair value
At 1 April 2020 1,750,000 23,892,000 25,642,000
Additions
Disposal (10,000) (10,000)
Fair value movements (409,000) (409,000)
At31March 2021 1,750,000 23,473,000 25,223,000

The aggregate
ass
were as follows:		 ets, liabilities, capital and reserves for the subsidiaries as at 31Mar ch 2021
Overseas
Dominion Plastic Import Opulent
Associates Brandnow Alphachoice Concorda Export Properties
Limited Limited Limited Limited Limited Limited
Fixed assets 350,001 6,986,000 21,231,351 1,424,000
Current assets 13,522,447 990,093 5,493,142 820 21
Current liabilities (13,577,323)(1,777,338) (8,300,307) (720) (2,121,054)
Non-current
liabilities (3,798,587)
Provisions (763,000) (2,678,000)
Net assets 295,125 5,435,755 11,947,599 100 21 (697,054)
Aggregate
capital and
reserves 295,125 5,435,755 11,947,599 100 21 (697,054)
Mosaic
Cyril Heddle Property
Astorheights tt Sons Headhright Metrona Tomenstar Developments
Limited Limited Limited Limited Limited Limited
E
Fixed assets 550,000 1,800,000 4,000,000 385,694
Current assets 719,372 869,880 1,240,437 24,881 124,857
Current
liabilities (2,400) (21,117) (196,094) (2,162,060) (297,242)
Non-current
liabilities (103,179)
Provisions (256,000) (85,000)
Net assets 716,972 1,398,763 2,485,164 1,777,821 213,309
Aggregate
capital and
reserves 716,972 1,398,763 2,485,164 1,777,821 213,309

A summary
oftu
follows:		 rnover,
expend		 iture
and pro		 fit/(loss)
for th		 e year ended 31March 2 021 is as
Overseas
Dominion Plastic Import Opulent
Associates Brandnow AIphachoice Coccorda Export Properties
Limited Limited Limited Limited Limited Limited
fi
Turnover 19,910 374,352 471,051 1,000
Cost ofsales 11,155 (9,188) (27,867) (4,773)
Administrative
expenses (5,431) (5,841) (108,636) (1,641)
Net valuation
gains on
investment
property		 572 930
Profit on disposal of
fixed assets
Interest receivable
and
similar income 349,500 45,347 35,411
Interest payable and
similar charges		 (153,694) (58,500) (326,915) (62,000)
Tax
Profit/(loss) for
financial year 221,440 346,742 43,044 (66,484)
Mosaic
Cyrii Heddie Property
Astorheights &Sons Headbright Metrona Tomenstar Developments
Liinited Limited Limited Limited Limited Limited
Turnover 31,936 165,000 169,187
Cost ofsales (3,554) (49,727)
Administrative
expenses (1,401) 415 (2,001) (2,491) (2,515) (960)
Net valuation
gains on
investment
property
Profit on disposal of
fixed assets
Interest receivable
and
similar income 50,000 19,700 21,000
Interest payable
and
similar charges (3,405) (54,000)
Tax
Profit/(loss)
for
financial year 48,599 415 46,081 180,104 62,945 (960)

DEBTORS
Group Charity
2021 2020 2021 2020
g
Prepayments and accrued income 2,526,628 1,223,871 351 1,729
Other debtors 5,196,101 5,313,838 727,640 731,049
7,722,729 6,537,709 727,991 732,778
Group Group Charity
2021 2020 2021 2020
Loan debtors 3,599,728 3,543,746 720,000 720,000
Other debtors 1,596,373 1,770,092 7,640 11,049
5,196,101 5,313,838 727,640 731,049

CREDI TORS: amounts
falling due		 within
one year		 within
one year
Group Charity
2021 2020 2021 2020
g 8
Bank loans and overdralis 443,071 522,406
Amount due to group undertakings 1,746
Taxation and social security 44,689 51,544 2,983
Accruals and deferred income 225,944 506,929 38,157 36,233
Other creditors 11,309,339 9,231,780
12,023,043 10,312,659 39,903 39,216

Group Group Charity
2021 2020 2021 2020
g
Loan creditors 10,771,113 8,727,020
Other creditors 538,226 504,760
11,309,339 9,231,780

Amounts
are payable as follows:
Group Charity
2021 2020 2021 2020
In more than one year but not
more than two years 410,370 517,829
In more than two years but not
more than five years 2,782,321 2,744,417
In five years or more 709,075 914,540

2021
At 1 April 2020 224,057
Amount
released		 to income (224,057)
Amount
deferred		 in year 160,568
At 31March 2021 160,568

Deferred tax:
Group Charity
At 1 April 2020 3,782,000
Additions
At 31March 2021 3,782,000

At 1April Gains and At31
Group 2020 Income Expenditure losses March 2021
8
General funds 41,299,351 1,455,564 (1,567,606) 1,502 41,188,811
At 1April Gains and At31
Charity 2020 Income Expenditure losses March 2021
General funds 40,760,605 1,420,370 (1,184,836) (409,000) 40,587,139

ANALYSIS OF NET ASSETSB ETWEEN FUNDS ETWEEN FUNDS
Group Charity
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2021
g
Investments 38,126,844 38,126,844 25,223,000 25,223,000
Current assets 22,768,776 22,768,776 15,404,042 15,404,042
Creditors less than I year (12,023,043) (12,023,043) (39,903) (39,903)
Creditors greater than I year (3,901,766) (3,901,766)
Provisions (3,782,000) (3,782,000)
Net assets 41,188,811 41,188,811 40,587,139 40,587,139

Group Group Charity Charity
2021 2020 2021 2020
g g g g
Financial assets measured at fair
value through income and
expenditure 51 1 23,473,000 23,892,000
Financial assets that are debt
instruments measured at
amortised cost 7,722,729 6,537,709 727,991 732,778
Financial liabilities measured at
amortised cost 15,924,809 14,489,445 39,903 39,216

The total future
minimum
lease paym
are as follows:		 ents
receivable
under non-canc		 ents
receivable
under non-canc		 ellable
operati		 ng
lease
Group Charity
2021 2020 2021 2020
Not later than I year 1,786,687 1,849,215 36,000 30,250
Later than I year and not later than
5 years 5,729,514 5,834,921 70,500 89,490
Later than 5 years 5,567,683 6,487,621
13,083,884 14,171,757 106,500 119,740

ANA LYSIS OF CASH AND CASH EQUIV ALENTS
2021 2020
Cash at bank and in hand 14,997,047 14,901,861
Bank overdralls
14,997,047 14,901,861

At 1 At 31
April Non-Cash March
2020 Cashflows Movement 2021
Cash in hand and at bank 14,901,861 95,186 - 14,997,047
Debt due within one year (522,406) 79,335 (443,071)
Debt due after one year (4,176,786) 275,020 -(3,901,766)
10,202,669 449,541 - 10,652,210

2021 2021 2020 2020
Unrestricted Funds Unrestricted Funds
g g g
Income and endowments
Donations
and legacies		 1,290,000 1,290,000
Investment income:
Rent and charges receivable 74,573 39,717
Interest receivable
and similar income		 55,797 99,731
130,370 139,448
Total income 1,420,370 1,429,448
Expenditure
Expenditure on charitable activities (1,184,836) (1,734,809)
Total expenditure (1,184,836) (1,734,809)
Net gains on investments:
Gains/(loss) on revaluation of
investments (409,000) 864,000
Gains/(loss) on revaluation of
investment properly 84,539
(409,000) 948,539
Net income / (expenditure) and net
movement in funds (173,466) 643,178
Reconciliation offunds:
Total funds brought
forward		 40,760,605 40,117,427
Total funds carried forward 40,587,139 40,760,605