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|||||PAGES|
|---|---|---|---|---|
|Trustees'
annual
report (incorporating||the director's report)||Ito5|
|Independent|auditor's
report tothe 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|||15to31|
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||||||2022|2022|2021|2021|
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Funds|Unrestricted|Funds|
|||||Note|8||||
|Income and endowments|||||||||
|Trading activities||||||25,400||19,910|
|Investment
income:|||||||||
|Rent and charges receivable|||||2,046,067||1,287,099||
|Interest receivable|and similar income||||147,971||148,555||
|||||||2,194,038||1,435,654|
|Total income||||||2,219,438||1,455,564|
|Expenditure|||||||||
|Expenditure
on raising funds:|||||||||
|Trading costs||||6|(5,209)||11,155||
|Investment
management|||costs|7|(307,090)||(393,925)||
|Expenditure
on charitable||activities||8,9|(1,071,632)||(1,184,836)||
|Taxation||||11|(1,569,000)||||
|Total expenditure||||||(2,952,931)||(1,567,606)|
|Net gains on investments:|||||||||
|Gains on revaluation
of||investment|||||||
|property|||||1,600,000||1,502||
|||||||1,600,000||1,502|
|Net income I(expenditure)|||and net||||||
|movement
in funds||||15||866,507||(110,540)|
|Reconciliation
offunds:|||||||||
|Total funds brought|forward|||||41,188,811|41,299,351||
|Total funds carried|forward|||23||42,055,318|41,188,811||
##
||||2022|2021|
|---|---|---|---|---|
|||Note|||
|FIXEDASSETS|||||
|Investments||16|36,668,000|38,126,844|
|CURRENT ASSETS|||||
|Stocks|||49,000|49,000|
|Debtors||18|8,718,265|7,722,729|
|Cash at bank and in hand|||16,292,964|14,997,047|
||||25,060429|22,768,776|
|CREDITORS: amounts|falling due||||
|within one year||19|(12,958,615)|(12,023,043)|
|NET CURRENT ASSETS|||12,101,614|10,745,733|
|TOTAL ASSETSLESS|CURRENT||||
|LIABILITIES|||48,769,514|48,872,577|
|CREDITORS: amounts|falling due||||
|aiter more than one year||20|(1463,296)|(3,901,766)|
|PROVISIONS||22|(5,351,000)|(3,782,000)|
|NET ASSETS|||42,055,318|41,188,811|
|FUNDS OF THE CHARITY|||||
|Unrestricted
funds||23|42,055,318|41,188,811|
|Total charity funds|||42,055,318|41,188,811|
##
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||||Note|2022|2021|
|---|---|---|---|---|---|
|CASH FLOWS FROM OPERATING ACTIVITIES||||||
|Net income||||866,507|(110,540)|
|Adjustments
for:
Net gains on investments||||(1,600,000)|(1,502)|
|Dividends,
interest and rents from investments||||(2,046,067)|(1,287,099)|
|Interest receivable
and similar income||||(147,971)|(148,555)|
|Payments
for expenditure
on investment|properties|||106,451|95,109|
|Interest payable and similar charges||||148,462|168,314|
|Current and deferred tax||||1,569,000||
|Changes in:
Trade and other debtors||||1,330,685|191,615|
|Trade and other creditors||||21,905|(189,100)|
|Cash generated
from operations||||248,972|(1,281,758)|
|Interest received||||99,165|114,740|
|Net cash used in operating
activities||||348,137|(1,167,018)|
|CASH FLOWS FROM INVESTING|ACTIVITIES|||||
|Dividends,
interest and rents from investments||||1,972,545|(68,711)|
|Cash receipts from the repayment
ofadvances||and loans||(313,264)|(55,982)|
|Purchases ofother investments||||(618,406)|(39,412)|
|Proceeds from sale ofother investments||||1,794,000||
|Payments
for expenditure
on investment|properties|||(106,451)|(95,109)|
|Net cash from investing
activities||||2,728,424|(259,214)|
|CASH FLOWS FROM FINANCING|ACTIVITIES|||||
|Proceeds from borrowings|||||1,689,738|
|Repayments
ofborrowings||||(1,632,152)||
|Interest paid||||(148,492)|(168,320)|
|Net cash used in financing
activities||||(1,780,644)|1,521,418|
|NET INCREASE /(DECREASE) IN CASH||AND CASH||||
|EQUIVALENTS||||1,295,917|95,186|
|CASH AND CASH EQUIVALENTS|AT BEGINNING OF|||||
|YEAR||||14,997,047|14,901,861|
|CASH AND CASH EQUIVALENTS|AT END OFYEAR||28|16,292,964|14,997,047|
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|FORTHE YEAR ENDED 31
TRADING ACTIVITIES|MARCH 2022||
|---|---|---|
||Unrestricted|Funds|
||2022|2021|
|Income from trading pmperties|25,400|19,910|
|Other trading income|||
||25,400|19,910|
##
|TRADING COS|TS|||
|---|---|---|---|
|||Unrestricted|Funds|
|||2022|2021|
|Trading property|costs|5,209|(11,155)|
|Other trading costs||||
|||5,209|(11,155)|
##
||||Unrestricted|Funds|
|---|---|---|---|---|
||||2022|2021|
||||g||
|Investment|property|outgoings|106,451|95,109|
|Management|and administration||52,177|130,502|
|Interest payable|||148,462|168,314|
||||307,090|393,925|
##
|EXPEN|DITURE ON CH|ARITABLE ACTIVITIES|BYFUND|TYPE||
|---|---|---|---|---|---|
||||Total||Total|
|||Unrestricted|Funds|Unrestricted|Funds|
|||Funds|2022|Funds|2021|
|Grants|paid|1,044,200|1,044,200|1,166,500|1,166,500|
|Support|costs|27,432|27,432|18,336|18,336|
|||1,071,632|1,071,632|1,184,836|1,184,836|
##
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||||Grant||Total|Total|
|---|---|---|---|---|---|---|
||||funding of|Support|Funds|Funds|
||||activities|Costs|2022|2021|
||||||g|g|
||Grants paid||1,044,200||1,044,200|1,166,500|
||Governance|costs||27,432|27,432|18,336|
||||1,044,200|27,432|1,071,632|1,184,836|
|10.|ANALYSIS|OF GRANTS|||||
||||||2022|2021|
||GRANTS TO INSTITUTIONS||||||
||Support ofeducation||and relief ofpoverty||1,044400|1,166,500|
||Total grants||||1,044400|1,166,500|
|advancement
ofe
The composition|ducation or the reliefofpoverty.
ofdonations
is shown below:||
|---|---|---|
|Moreshet Hatorah|Ltd.|190,000|
|The ABC Trust||190,000|
|Zichron Nachum|(Europe) Trust|120,000|
|Tchabe Kollel Limited||75,000|
|Vishnitz
Girls School Limited||75,000|
|Rise and Shine||50,000|
|Westcliff Studies||50,000|
|Comet Charities Ltd||27,000|
|Gitter Foundation|Ltd|25,000|
|Sassov Beis Hamedrash||25,000|
|Amud Hatzdokoh|Trust|21,000|
|KefKids||20,000|
|Sundry donations||176,200|
|||1,044400|
##
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##
|11.|TAXATION|||||
|---|---|---|---|---|---|
|||||2022|2021|
|||||8||
||Deferred tax:|||||
||Origination
and reversal|oftiming differences||1,569,000||
||Current tax:|||||
||Prior year adjustment|||||
||Taxation|||||
||Reconciliation
oftax expense|||||
||The tax assessed on the|net income for the|year is higher than|the standard rate of|corporation|
||tax in the UKof25%(2021:19%).|||||
|||||2022|2021|
|||||8||
||Profit on ordinary
activities before tax|||2,435,507|(110,540)|
||Net income by rate oftax|||608,878|(21,003)|
||Income exempt from tax|||(423,524)|(24,770)|
||Expenses not deductible|for tax purposes||270,769|240,269|
||Capital allowances
and|depreciation||(2,607)||
||Timing differences
on unrealised
gains|||1,569,000|(286)|
||Timing differences
on Gift Aid payments|||(453,726)|(194,314)|
||Unused tax losses|||210|182|
||Other differences||||(78)|
||Taxation|||1,569,000||
|12.|NET INCOME|||||
||Net income is stated after charging/(crediting);|||||
|||||2022|2021|
||Fees payable for the audit ofthe financial||statements|24,500|22,000|
||Additional
professional|fees payable to the|auditors aggregate|g2,500(2021:11,120).||
##
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|f130,370)ofinvestment
incom
INVESTMENTS|e.|||||
|---|---|---|---|---|---|
||Unlisted|Investment||||
|Group|Investment|property|Equipment||Total|
|||8||||
|Fair value||||||
|At 1 April 2021|51|38,126,793|||38,126,844|
|Additions||1,955,439||967|1,956,406|
|Disposals||(5,015,250)|||(5,015,250)|
|Fair value movements||1,600,000|||1,600,000|
|At 31March 2022|51|36,666,982||967|36,668,000|
|||Freehold|Shares|in||
|||investment|group|||
|Charity||property|undertakings||Total|
||||8|||
|Fair value||||||
|At 1 April 2021||1,750,000|23,473,000||25,223,000|
|Additions||||||
|Disposal||||||
|Fair value movements||100,000|574,000||674,000|
|At 31March 2022||1,850,000|24,047,000||25,897,000|
##
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##
|The aggregate
as
were as follows:|sets, liabilities,|capital and|reserves for th|e subsidiaries|as at 31Mar|ch 2022|
|---|---|---|---|---|---|---|
||||||Overseas||
||Dominion|||Plastic Import||Opulent|
||Associates|Brandnow|Alphachoice|Concorde|Export|Properties|
||Limited|Limited|Limited|Limited|Limited|Limited|
|Fixed assets|350,001|7,332,306|19,297,907|||1,432,688|
|Current assets|12,138,290|996,782|7,566,490|820|||
|Current liabilities|(12,215,072)(2,035,252)||(8,828,822)|(720)||(2,196,920)|
|Non-current|||||||
|liabilities|||(1,363,296||||
|Provisions|-|(1,004,000)|(3,898,000)||||
|Net assets|273,219|5,289,836|12,774,279|100||(764,232)|
|Aggregate|||||||
|capital and|||||||
|reserves|273,219|5,289,836|12,774,279|100||(764,232)|
|||||||Mosaic|
|||Cyril Heddle||||Property|
||Astorheights|&Sons|Headbright|Matrons|Tomenstar|Developments|
||Limited|Limited|Limited|Limited|Limited|Limited|
|Fixed assets|||550,000|1,800,000|4,008,104|397,096|
|Current assets|716,972||888,084|1,134,735|37,296|171,144|
|Current|||||||
|liabilities|(1,401)||(25,367)|(194,804)|(2,103,690)|(355,771)|
|Non-current|||||||
|liabilities|||||||
|Provisions||||(337,000)|(112,000)||
|Net assets|715,571||1,412,717|2,402,931|1,829,710|212,469|
|Aggregate|||||||
|capital and|||||||
|reserves|715,571||1,412,717|2,402,931|1,829,710|212,469|
##
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##
|A summary
follows:|oftur|nover,
expend|iture
and pro|fit/(loss)
for th|e year ended|31 March 2|02|2 is as|
|---|---|---|---|---|---|---|---|---|
|||||||Overseas|||
|||Dominion|||Plastic Import|||Opulent|
|||Associates|Brandacw|Aiphachoice|Concorde|Export||Properties|
|||Limited|Liinited|Limited|Limited|Limited||Liinited|
||||||E||||
|Turnover||25,400|463,487|1,128,678|||||
|Cost ofsales||(5,209)|(395)|(73,106)||||(3,777)|
|Administrative|||||||||
|expenses||(4,041)|(4,521)|(30,631)||||(1,401)|
|Net valuation
gains on|||||||||
|investment
property||||1,500,000|||||
|Gain/(loss)
on disposal
offixed assets||||(100)||79|||
|Interest receivable and|||||||||
|similar income||393,000|40,510|69,653|||||
|Interest payable
similar charges|and|(153,056)|(54,000)|(342,814)||||(62,000)|
|Tax|||(241,000)|(1,220,000)|||||
|Profit/(loss)
for
financial year||256,094|204,081|1,031,680||79||(67,178)|
|||||||||Mosaic|
||||Cyrii Heddie|||||Property|
|||Astorheights|st Sons|Headbright|Metrcna|Tomenstar|Developments||
|||Limited|Limited|Limited|Limited|Liraited||Limited|
|||||||E|||
|Turnover||||42,000|165,000|176,696|||
|Cost ofsales||||456||(29,629)|||
|Administrative|||||||||
|expenses||(1,401)||(2,002)|(3,141)|(4,178)||(840)|
|Net valuation
gains on|||||||||
|investment
property|||||||||
|Profit on disposal of|||||||||
|fixed assets|||||||||
|Interest receivable
and|||||||||
|similar income||50,000||18,500|20,000||||
|Interest payable
similar charges|and||||(3,092)|(64,000)|||
|Tax|||||(81,000)|(27,000)|||
|Profit/(loss)
for
financial year||48,599||58,954|97,767|51,889||(840)|
##
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##
|DEBTORS|||||||
|---|---|---|---|---|---|---|
||||Group||Charity||
||||2022|2021|2022|2021|
||||K||||
|Prepayments|and accrued income||3,382,383|2,526,628|8,862|351|
|Other debtors|||5,335,882|5,196,101|212,542|727,640|
||||8,718,265|7,722,729|221,404|727,991|
|Other debtors|are comprised|as follows:|||||
||||Group||Charity||
||||2022|2021|2022|2021|
|Loan debtors|||3,192,992|3,599,728|200,000|720,000|
|Other debtors|||2,142,890|1,596,373|12,542|7,640|
||||5,335,882|5,196,101|212,542|727,640|
##
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##
|CREDI|TORS: amounts
falling due|within one year|within one year|||
|---|---|---|---|---|---|
|||Group||Charity||
|||2022|2021|2022|2021|
|||8||||
|Bank loans and overdrails||2,695,611|443,071|||
|Amount|due to group undertakings|||1,662|1,746|
|Taxation|and social security|39,943|44,689|||
|Accruals|and deferred income|232,357|225,944|61,428|38,157|
|Other creditors||9,990,704|11,309,339|||
|||12,958,615|12,023,043|63,090|39,903|
##
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##
|Other|creditors are comprised|as follows:|as follows:|||
|---|---|---|---|---|---|
|||Group||Charity||
|||2022|2021|2022|2021|
|Loan|creditors|9,424,891|10,771,113|||
|Other|creditors|565,813|538,226|||
|||9,990,704|11,309,339|||
##
##
|Amounts
are payable as follows:|||||
|---|---|---|---|---|
||Group||Charity||
||2022|2021|2022|2021|
||||g||
|In more than one year but not|||||
|more than two years|178,274|410,370|||
|In more than two years but not|||||
|more than five years|529,213|2,782,321|||
|In five years or more|655,809|709,075|||
##
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##
|||2022|
|---|---|---|
|At 1 April 2021||160,568|
|Amount
released|to income|(160,568)|
|Amount
deferred|in year|167,947|
|At 31 March 2022||167,947|
##
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##
|||At 1April|||Gains and|At 31|
|---|---|---|---|---|---|---|
|Group||2021|Income|Expenditure|losses|March 2022|
|General|funds|41,188,811|2,219,438|(2,952,931)|1,600,000|42,055,318|
|||At 1April|||Gains aad|At31|
|Charity||2021|Income|Expenditure|losses|March 2022|
|General|funds|40,587,139|1,202,014|(1,071,632)|674,000|41,391,521|
##
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|ANALYSIS OF NET ASSETSB|ETWEEN FUNDS|ETWEEN FUNDS|||
|---|---|---|---|---|
||Group||Charity||
||Unrestricted|Total Funds|Unrestricted|Total Funds|
||Funds|2022|Funds|2022|
|Investments|36,668,000|36,668,000|25,897,000|25,897,000|
|Current assets|25,060,229|25,060,229|15,557,611|15,557,611|
|Creditors less than I year|(12,958,615)|(12,958,615)|(63,090)|(63,090)|
|Creditors greater than I year|(1,363,296)|(1,363,296)|||
|Provisions|(5,351,000)|(5,351,000)|||
|Net assets|42,055,318|42,055,318|41,391,521|41,391,521|
##
||||||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|2022|2021|
||||||||g||||
|Financial|assets||measured||at|fair|||||
|value through|||income|and|||||||
|expenditure|||||||51|51|24,047,000|23,473,000|
|Financial|assets||that are|debt|||||||
|instruments||measured||at|||||||
|amortised||cost|||||8,718,265|7,722,729|221,404|727,991|
|Financial|liabilities measured|||||at|||||
|amortised||cost|||||14,321,911|15,924,809|63,090|39,903|
##
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##
|The total future
minimum
lease payme
are as follows:|nts
receivable
under non-can|nts
receivable
under non-can|cellable
operati|ng
lease|
|---|---|---|---|---|
||Group||Charity||
||2022|2021|2022|2021|
||8||||
|Not later than I year|1,688,754|1,786,687|36,000|36,000|
|Later than I year and not later than|||||
|5years|4,438496|5,729,514|34,500|70,500|
|Later than 5 years|3,783,958|5,567,683|||
||9,911,108|13,083,884|70,500|106,500|
##
##
##
|ANALYSIS OF CASH AND CA|SH EQUIVALENT|S|||
|---|---|---|---|---|
||||2022|2021|
|||||I,|
|Cash at bank and in hand|||16,292,964|14,997,047|
|Bank overdrafls|||||
||||16492,964|14,997,047|
|ANALYSIS OF CHANGES IN NET DEBT|||||
||At 1|||At31|
||April||Non-Cash|March|
||2021|Cashflows|Movement|2022|
||f.||g|8|
|Cash in hand and at bank|14,997,047|1,295,917||- 16,292,964|
|Debt due within one year|(443,071)|(2,252,540)||-(2,695,611)|
|Debt due after one year|(3,901,766)|2,538,470||-(1,363,296)|
||10,652,210|1,581,847||- 12,234,057|
##