# ## ## ## ## ## ## |||||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|||15to 32| ## ## ## ## # # # ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||2023|2023|2022|2022| |---|---|---|---|---|---|---|---| |||||Unrestricted|Funds|Unrestricted|Funds| ||||Note|f.|||| |Income and endowments|||||||| |Trading activities|||||50427||25,400| |Investment
income:|||||||| |Rent and charges receivable||||2,164,982||2,046,067|| |Interest receivable
and similar income||||448473||147,971|| ||||||2,613,255||2,194,038| |Total income|||||2,663,482||2,219,438| |Expenditure|||||||| |Expenditure
on raising funds:|||||||| |Trading costs|||6|(3,592)||(5,209)|| |Investment
management|costs||7|(380896)||(307,090)|| |Expenditure
on charitable|activities||8,9|(1421,535)||(1,071,632)|| |Total expenditure|||||(1,605,523)||(1,383,931)| |Net gains/(losses)
on investments:|||||||| |Loss on disposal ofinvestment||property||(24,596)|||| |Gain/(loss)
on revaluation|ofinvestment||||||| |property||||(1,399,910)||1,600,000|| ||||||(1,424,506)||1,600,000| |Net income/(expenditure)|before tax||15||(366)547)||2,435,507| |Taxation|||||1,441,000||(1,569,000)| |Net income/(expenditure)|for the financial||||||| |year and net movements|in funds||||1,074,453||866,507| |Reconciliation offunds:|||||||| |Total funds brought
forward|||||42,055)318||41,188,811| |Total funds carried forward|||23||43,129)771||42,055,318| ## ## ||||2023|2022| |---|---|---|---|---| |||Note||| |FIXEDASSETS||||| |Investments||16|35,403)738|36,668,000| |CURRENT ASSETS||||| |Stocks|||49,726|49,000| |Debtors||18|4,900,573|8,718,265| |Cash at bank and in hand|||16,602,440|16,292,964| ||||21,552)739|25,060,229| |CREDITORS: amounts|falling due|||| |within one year||19|(8,780,896)|(12,958,615)| |NET CURRENT ASSETS|||12,771,843|12,101,614| |TOTAL ASSETSLESS|CURRENT|||| |LIABILITIES|||48,175,581|48,769,614| |CREDITORS: amounts|falling due|||| |after more than one year||20|(1,135,810)|(1,363,296)| |PROVISIONS||22|(3,910,000)|(5,351,000)| |NET ASSETS|||43,129,771|42,055,318| |FUNDS OF THE CHARITY||||| |Unrestricted
funds||23|43,129,771|42,055,318| |Total charity funds|||43,129,771|42,055,318| ## ||BALANCE S|HEET|ASAT31MARCH 2023|| |---|---|---|---|---| ||||2023|2022| |||Note|g|| |FIXEDASSETS||||| |Investments||16|26,153,000|25,897,000| |CURRENT ASSETS||||| |Debtors||18|224,951|221,404| |Cash at bank and in hand|||16,257,101|15,336,207| ||||16,4S2,132|15,557,611| |CREDITORS: amounts|falling due|||| |within one year||19|(7S,SOS)|(63,090)| |NET CURRENT ASSETS|||16,403)324|15,494,521| |NET ASSETS|||42,556,324|41,391,521| |FUNDS OF THE CHARITY||||| |Unrestricted
funds||23|42,556,324|41,391,521| |Total charity funds|||42,556,324|41,391,521| ## ## ## |FORTHE Y|EAR|EN|DED 31MARC|H 2023||| |---|---|---|---|---|---|---| |||||Note|2023|2022| |CASH FLOWS FROM OPERATING ACTIVITIES||||||| |Net income|||||1,074,453|866,507| |Adjustments
for:||||||| |Net losses/(gains)
on investments
Dividends,
interest and rents from investments|||||1,424,506
(2,164)982)|(1,600,000)
(2,046,067)| |Interest receivable
and similar income|||||(448873)|(147,971)| |Payments
for expenditure
on investment
Interest payable
and similar charges
Current
and deferred tax|properties||||151,965
189,785
(1,441,000)|106,451
148,462
1,569,000| |Increases in stock|||||(726)|| |Changes in:
Trade and other debtors|||||158,164|1,330,685| |Trade and other creditors|||||28,303|21,905| |Cash generated
Irom/(expended
in) operations|||||(1,027,805)|248,972| |Interest received|||||216,605|99,165| |Net cash generated
from/(expended
in)|operating||activities||(811,200)|348,137| |CASH FLOWS FROM INVESTING|ACTIVITIES|||||| |Dividends,
interest and rents Irom investments|||||2)077,738|1,972,545| |Cash receipts from the repayment
ofadvances||and loans|||738,631|(313,264)| |Purchases ofother investments|||||(138,896)|(618,406)| |Proceeds from sale ofother investments|||||3,196,654|1,794,000| |Payments
for expenditure
on investment|properties||||(148,717)|(106,451)| |Net cash from investing
activities|||||5,725,410|2,728,424| |CASH FLOWS FROM FINANCING|ACTIVITIES|||||| |Repayments
ofborro wings
Interest paid|||||(4,414,797)
(189,937)|(1,632,152)
(148,492)| |Net cash used in financing
activities|||||(4,604,734)|(1,780,644)| |NET INCREASE /(DECREASE) IN
EQUIVALENTS|CASH|AND CASH|||309,476|1,295,917| |CASH AND CASH EQUIVALENTS|AT BEGINNING OF|||||| |YEAR|||||16,292,964|14,997,047| |CASH AND CASH EQUIVALENTS|AT END||OF YEAR|28|16,602,440|16,292,964| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |FORTHE YEAR ENDED 31
TRADING ACTIVITIES|MARCH 2023|| |---|---|---| ||Unrestricted|Funds| ||2023|2022| |Income from trading properties|50,227|25,400| |Other trading income||| ||50427|25,400| |Unrestricted|Funds| |---|---| |2023|2022| |3,112|5,209| |480|| |3,592|5,209| |7.|INVESTMENT MANAGEMENT|INVESTMENT MANAGEMENT|INVESTMENT MANAGEMENT|COSTS||| |---|---|---|---|---|---|---| ||||||Unrestricted|Funds| ||||||2023|2022| ||Investment
Management|property
outgoings
and administration|||151,965
38,646|106,451
52,177| ||Interest payable||||189,785|148,462| ||||||380,396|307,090| ## |EXPEN|DITURE ON CH|ARITABLE ACTIVITIES|BYFUND|TYPE|| |---|---|---|---|---|---| ||||Total||Total| |||Unrestricted|Funds|Unrestricted|Funds| |||Funds|2023|Funds|2022| |Grants
Support|paid
costs|1,171)300
507235|1,171,300
50,235|1,044,200
27,432|1,044,200
27,432| |||1,221,535|1,221,535|1,071,632|1,071,632| ## ## ## |||Grant||Total|Total| |---|---|---|---|---|---| |||funding of|Support|Funds|Funds| |||activities|Costs|2023|2022| |Grants paid
Governance|costs|1,171,300|50,235|1,171,300
50435|1,044,200
27,432| |||1,171,300|50,235|1,221,535|1,071,632| |ANALYSIS|OF GRANTS||||| |||||2023|2022| |GRANTS TO INSTITUTIONS|||||| |Support of education||and relief ofpoverty||1,171,300|1,044,200| |Total grants||||1,171,300|1,044,200| ## |The composition of donatio|ns|is shown below:|| |---|---|---|---| ||||g| |Friends OfWiznitz Limited|||200,000| |Keren Habinyan
Limited|||170,000| |Zichron Nachum
(Europe)
The Abc Trust|Trust||105,000
100,000| |Vishnitz
Girls School Limited|||75,000| |Friends OfBoyan Trust|||55,000| |College For Higher Rabbinical
Studies
Congregation
Sharei Sholom Tchabe Limited
Entindale
Limited|||35,000
30,000
30,000| |Amud Hatzdokoh
Trust|||30,000| |Belz Foundation
Ltd|||30,000| |Comet Charities Ltd|||26,000| |Trumros Limited|||25,000| |Torah Vodaas Limited|||25,000| |Sassov Beis Hamedrash|||22,500| |Talmud Torah Tiferes Shlome||Trust|20,000| |Achisomoch
Aid Company|Limited||20,000| |Sundry donations|||172,800| ||||1,171,300| ## ## ## |TAXATION||||| |---|---|---|---|---| ||||2023|2022| ||||g|| |Deferred tax:||||| |Origination
and reversal|oftiming differences||(1,441,000)|1,569,000| |Current tax:||||| |Prior year adjustment||||| |Taxation|||(1,441,000)|1,569,000| |Reconciliation
oftax expense||||| |The tax assessed on the net income for the||year is higher than the standard
rate of||corporation| |tax in the UK of25 /o (2022:25/o).||||| ||||2023|2022| |Profit on ordinary
activities before tax|||(366,547)|2,435,507| |Net income by rate oftax|||(91,635)|608,878| |Income exempt from tax|||(92,089)|(423,524)| |Expenses not deductible|for tax purposes||662,333|270,769| |Capital allowances
and depreciation|||(6,312)|(2,607)| |Group relief|||244|| |Timing differences
on unrealised
gains|||(1,441)000)|1,569,000| |Timing differences
on Gilt Aid payments
Unused tax losses|||(473,416)
875|(453,726)
210| |Other differences||||| |Taxation|||(1,441,000)|1,569,000| |NET INCOME||||| |Net income is stated after|charging/(crediting):|||| ||||2023|2022| |Fees payable for the audit ofthe financial||statements|32,400|27,000| ## ## ## ## ## |||Unlisted|Investment|Fixtures||| |---|---|---|---|---|---|---| |Group||Investment|property|and fittings|Equipment|Total| |Fair value||||||| |At 1 April
Additions|2022|51|36,666,982
123,626|12,363|967
2,907|36,668,000
138,896| |Disposals||||||| |Fair value|movements||(1,399,910)|||(1,399,910)| |At 31March 2023||51|35,390,698|12,363|3,874|35,406,986| |Depreciation||||||| |At 1 April|2022|||||| |Charge for|the year|||2,473|775|3,248| |At 31March 2023||||2,473|775|3,248| |Carrying|amount|||||| |At 31March 2023||51|35,390,698|9,890|3,099|35,403,738| |At 31March 2022||51|36,666,982||967|36,668,000| ## ## ## |FORTHE YEAR
INVESTMENTS (Continued)|ENDED 31MARCH 202|3|| |---|---|---|---| ||Freehold|Shares in|| |Charity|investment
property|group
undertakings|Total| |Fair value|||| |At 1 April 2022|1,850,000|24,047,000|25,897,000| |Additions|||| |Disposal|||| |Fair value movements||256,000|256,000| |At 31March 2023|1,850,000|24,303,000|26,153,000| ## ## ## ## ## |were as fol|lows:||||||| |---|---|---|---|---|---|---|---| |||Dominion|||||Opulent| |||Associates|Brandnow||Alphachoice|Concorde|Properties| |||Limited|Limited||Limited|Limited|Limited| |Fixed assets||350,001|7,335,000|18,003,356|||1,445,000| |Current assets||8,383,804|104,960||3,969,232|820|| |Current liabilities||(8,161,635)(1,516,267)||(5,333,898)||(720)|(2,217,784)| |Non-current|liabilities|||(1,135,810)|||| |Provisions||-|(1,003,000)|(2,463,000)|||| |Net assets||572,170|4,920,693|13,039,880||100|(772,784)| |Aggregate|capital and||||||| |reserves||572,170|4,920,693|13,039,880||100|(772,784)| ||||||||Mosaic| ||||||||Property| |||Astorheights|Headbright||Metrona|Tomenstar|Developments| |||Limited|Limited||Limited|Limited|Limited| |Fixed assets|||550,000||1,800,000|4,010,000|410,483| |Current assets||715,571|882,473||996,781|42,284|171,144| |Current liabilities||(1,402)|(19,157)||(60,072)|(2,136,255)|(372,659)| |Non-current|liabilities||||||| |Provisions|||||(337,000)|(107,000)|| |Net assets||714,169|1,413,316||2,399,709|1,809,029|208,968| |Aggregate
reserves|capital and|714,169|1,413,316||2,399,709|1,809,029|208,968| ## ## ## |A summary
follows:||ofturnov|er,|expenditure
an|d profit/(loss)|for the year|ended 31Ma|rc|h 2023 is a| |---|---|---|---|---|---|---|---|---|---| |||||Dominion|||||Opulent| |||||Associates|Brandnow|Alphachoice|Concorde||Properties| |||||Limited|Limited|Limited|Limited||Limited| |Turnover||||50,227|463,500|1,244,188|||| |Cost ofsales||||(3,592)|(1,300)|(97,476)|||(6,175)| |Administrative|||||||||| |expenses||||(4,522)|(4,521)|(18,128)|||(1,401)| |Net valuation
gains/(losses)
investment
properly|||on||1,014|(1,379,026)|||(976)| |Loss on disposal|||||||||| |offixed assets||||||(24,596)|||| |Interest receivable||and|||||||| |similar income||||249,500|20,164|116,541|||| |Interest payable|and||||||||| |similar charges||||(92,662)|(54,000)|(310,902)|||| |Tax|||||1,000|1,435,000|||| |Profit/(loss)
for|||||||||| |financial year||||198,951|425,857|965,601|||(8,552)| ||||||||||Mosaic| ||||||||||Property| |||||Astorheights|Headbright|Metrona|Tomenstar|Developments|| |||||Limited|Limited|Limited|Limited||Limited| |Turnover|||||42,000|165,000|183,524||| |Cost ofsales|||||||(44,113)||(2,901)| |Administrative|||||||||| |expenses||||(1,402)|(2,001)|(2,901)|(3,170)||(600)| |Net valuation
gains/(losses)|||on||||||| |investment
property|||||||(20,922)||| |Loss on disposal||of|||||||| |fixed assets|||||||||| |Interest receivable||and|||||||| |similar income||||50,000|18,600|17,000|||| |Interest payable
similar charges|and|||||(2,321)|(61,000)||| |Tax|||||||5,000||| |Profit/(loss)
for
financial year||||48,598|58,599|176,778|59,319||(3,501)| ## ## ## |DEBTORS||||||| |---|---|---|---|---|---|---| ||||Group||Charity|| ||||2023|2022|2023|2022| |Prepayments
Other debtors|and accrued income||23,696
4,876,877|3,382,383
5,335,882|1197952
104,999|8,862
212,542| ||||4,900,573|8,718,265|224,951|221,404| |Other debtors|are comprised|as follows:||||| ||||Group||Charity|| ||||2023|2022|2023|2022| ||||g|||| |Loan debtors|||2,554,361|3,392,992|100,000|200,000| |Other debtors|||2,322,516|1,942,890|4,999|12,542| ||||4,876,877|5,335,882|104,999|212,542| ## ## ## |CREDIT|ORS: amounts
falling due|within one year|within one year||| |---|---|---|---|---|---| |||Group||Charity|| |||2023|2022|2023|2022| |||g|||| |Bank loans and overdrafts||2,402,817|2,695,611||| |Amount|due to group undertakings|||5)700|1,662| |Taxation|and social security|51,748|39,943||| |Accruals|and deferred income|236,484|232,357|69,508|61,428| |Other creditors||67089,847|9,990,704|3,600|| |||8,780,896|12,958,615|78,808|63,090| ## ## ## ## |Other|creditors are comprised|as follows:|as follows:||| |---|---|---|---|---|---| |||Group||Charity|| |||2023|2022|2023|2022| |Loan|creditors|5,530,374|9,424,891||| |Other|creditors|559,473|565,813|3,600|| |||6,089,847|9,990,704|3,600|| ## ## |||||Group||Charity|| |---|---|---|---|---|---|---|---| |||||2023|2022|2023|2022| |Bank|loans|and|overdrafts|1&135,810|1,363,296||| |Amounts
are payable as follows:||||| |---|---|---|---|---| ||Group||Charity|| ||2023|2022|2023|2022| |In more than one year but not||||| |more than two years|157,612|178,274||| |In more than two years but not||||| |more than five years|457,315|529,213||| |In five years ormore|520,883|655,809||| ## ## |FORTHE YEAR ENDED 31 MARCH
DEFERRED INCOME|2023|| |---|---|---| |||2023| |At 1 April 2022||167,947| |Amount released to income||(167,947)| |Amount
deferred in year||149,388| |At 31March 2023||149,388| |Deferred income arises from rents received in advance.||| |PROVISIONS||| |Deferred tax:||| ||Group|Charity| |At 1 April 2022|5,351,000|| |Additions/(reversals)|(1,441,000)|| |At 31March 2023|3,910,000|| ## ## ## |||At 1April|||Gains and|At 31| |---|---|---|---|---|---|---| |Group||2022|Income|Expenditure|losses|March 2023| |General|funds|42,055,318|2,663,482|(164,523)|(1,424,506)|43,129,771| |||At 1April|||Gains and|At 31| |Charity||2022|Income|Expenditure|losses|March 2023| |General|funds|41,391,521|2,130,338|(1,221,535)|256,000|42,556,324| ## ## ## ## |ANALYSIS OFN|ET|ASSETS B|ETWEEN FUNDS|ETWEEN FUNDS||| |---|---|---|---|---|---|---| ||||Group||Charity|| ||||Unrestricted|Total Funds|Unrestricted|Total Funds| ||||Funds|2023|Funds|2023| |Investments|||35,403,738|35,403,738|26,153,000|26,153,000| |Current assets|||21,552,739|21,552,739|16,482,132|16,482,132| |Creditors less than|1 year||(8,780,896)|(8,780,896)|(78,808)|(78,808)| |Creditors greater than||1 year|(1,135,810)|(1,135,810)||| |Provisions|||(3,910,000)|(3,910,000)||| |Net assets|||43,129,771|43,129,771|42,556,324|42,556,324| ## |||||||Group|Group|Charity|Charity| |---|---|---|---|---|---|---|---|---|---| |||||||2023|2022|2023|2022| |||||||K|||| |Financial assets||measured||at|fair||||| |value through||income|and||||||| |expenditure||||||51|51|24&303,000|24,047,000| |Financial assets||that are|debt||||||| |instruments|measured||at||||||| |amortised|cost|||||4,900,573|8,718,265|224)951|221,404| |Financial
liabilities measured|||||at||||| |amortised|cost|||||9,916&706|14,321,911|78,808|63,090| ## ## ## |are as follows:|||||| |---|---|---|---|---|---| |||Group||Charity|| |||2023|2022|2023|2022| |Not later than|1 year|1,698,772|1,688,754|34,500|36,000| |Later than I year and not later than|||||| |5years||4,145,365|4,438,396||34,500| |Later than 5 years||3,314,208|3,783,958||| |||9,158,345|9,911,108|34,500|70,500| ## ## ## ## ## |ANALYSIS OF CASH AND CA|SH EQUIVALENT|S||| |---|---|---|---|---| ||||2023|2022| |Cash at bank and in hand|||16,602,440|16,292,964| |Bank overdrafts||||| ||||16,602,440|16,292,964| |ANALYSIS OF CHANGES IN NET DEBT||||| |||||At 31| ||At||Non-Cash|March| ||1April 2022|Cashflows|Movement|2023| ||K|||| |Cash in hand and at bank|16,292,964|309,476||—16,602,440| |Debt due within one year|(12,120,502)|4,187,311||-(7,933,191)| |Debt due atter one year|(1,363,296)|227,486||-(1,135,810)| ||2,809,166|4,724,273||7,533,439| ##