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|||||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|
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|||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|
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|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|