2020-12-31-accounts - Chalfords Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

				PAGE
Trustees' annual report	(incorporating	the director's report)
Independent auditor's	report to the members
Statement offmancial	activities (including		income and expenditure
account)
Statement offinancial	position			12
Statement ofcash flows				13
Notes to the financial	statements			14

	YEARENDE	D 31DECE	MBER 2020	MBER 2020
			2020		2019
			Unrestricted
			funds	Total funds	Total funds
		Note		K
INCOME AND ENDOWMENTS
Investment income		5	4,991,112	4,991,112	4,283,531
TOTAL INCOME			4,991,112	4,991,112	4,283,531
EXPENDITURE
Expenditure on raising funds:
Investment management	costs	6	(1,212,516)	(1,212,516)	(1,350,033)
Expenditure on charitable activities		7P	(2,583,616)	(2,583,616)	(1,713,843)
TOTAL EXPENDITURE			(3,796,132)	(3,796,132)	(3,063,876)
Net losses on investments		10	(463,560)	(463,560)	(1,132,284)
NET INCOME AND NET MOVEMENT IN FUNDS			731,420	731,420	87,371
RECONCILIATION OF FUNDS
Total funds brought forward			57,703,236	57,703,236	57,615,865
TOTAL FUNDS CARRIED	FORWARD		58,434,656	58,434,656	57,703,236

	STATEMENT OF FINANCIAL PO 31DECEMBER2020	SITIO	N
		Note	2020 f	20]9
FIXEDASSETS
Tangible fixed assets		13	39,216	52,288
Investments		14	67,177,752	67,187,043
			67,216,968	67,239,331
CURRENT ASSETS
Debtors		15	1,014,069	927,416
Investments		16	1,091,873	1,547,013
Cash at bank and in hand			3,230,852	2,137,345
			5,336,794	4,611,774
CREDITORS: amounts	falling due within one year	17	(119,106)	(147,869)
NET CURRENT ASSETS			5217,688	4,463,905
TOTAL ASSETSLESS	CURRENT LIABILITIES		72,434,656	71,703,236
CREDITORS: amounts	falling due alter more than one year	18	(14,000,000)	(14,000,000)
NET ASSETS			58,434,656	57,703,236
FUNDS OF THE CHARITY
Unrestricted funds			58,434,656	57,703,236
TOTAL CHARITY FUNDS		19	58,434,656	57,703,236

YEA	R ENDED 31DECEMBER 2020
		2020	2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net income		731,420	87,371
Adj usnnents for:
Depreciation oftangible fixed assets		13,072	17,429
Net losses on investments		463,560	1,132,284
Dividends, interest and rents from investments		(4,287,401)	(3,521,509)
Interest payable and similar charges		524,709	522,546
Accrued expenses/(income)		13,73 1	1,705
Changesin:
Trade and other debtors		11,000
Cash generated from operations		(2,529,909)	(1,760,174)
Interest received		(14,208)	(4,698)
Net cash used in operating activities		(2,544,117)	(1,764,872)
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends, interest and rents from investments		4,301,609	3,526,207
Purchases ofother investments		(1,378,572)	(1,137,340)
Proceeds from sale ofother investments		1,313,440
Change in trade and other debtors		(22,844)	309,564
Change in trade and other creditors		(51,300)	113,158
Net cash from investing activities		4,162,333	2,811,589
CASH FLOWS FROM FINANCING ACTIVITIES
Interest paid		(524,709)	(522,546)
Net cash used in financing activities		(524,709)	(522,546)
NET INCREASE/(DECREASE)	IN CASH AND CASH
EQUIVALENTS		1,093,507	524,171
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR		2,137,345	1,613,174
CASH AND CASH EQUIVALENTS AT END OFYEAR		3,230,852	2,137,345

			Unrestricted	Total Funds	Unrestricted	Total Funds
			Funds	2020	Funds	2019
Income	from investment	properties	3,481,671	3,481,671	3,873,360	3,873,360
Income	from other investments		1,455,376	1,455,376	345,667	345,667
Interest	receivable		54,065	54,065	64,504	64,504
			4,991,112	4,991,112	4,283,531	4,283,531

				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds	2020	Funds	2019
Repairs &	maintenance			203,740	203,740	288,840	288,840
Management &letting fees				256,493	256,493	281,593	281,593
Mortgage	interest	and finance	costs	524,709	524,709	522,546	522,546
Other investment		management	costs	227,574	227,574	257,054	257,054
				1,212,516	1212516	1,350,033	1,350,033

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2020	Funds	2019
Donations	paid	2,491,444	2,491,444	1,596,446	1,596,446
Support costs		92,172	92,172	117,397	117,397
		2,583,616	2,583,616	1,713,843	1,713,843

		Grant
		funding		Total funds	Total fund
		activities	Support costs	2020	2019
Donations	paid	2,491,444	19,172	2,510,616	1,644, 174
Governance	costs		73,000	73,000	69,669
		2,491,444	92,172	2,583,616	1,713,843

Included in donations p	aid are		grants made to th	e following institution	s:
						2020
LPW Limited						1,450,000
Rise and Shine Limited						126,000
Four Rose Foundation	Limited					110,000
String ofPearls						100,500
Care All Limited						97,100
Vishnitz Girls School Limited						86,000
Tchabe Kollel Limited						72,000
Support The Charity Worker						61,000
College For Higher Rabbinical			Studies			50,000
Start Upright						36,000
Edupoor Limited						36,000
MTT Foundation						31,180
The Weizmann Institute	Foundation					25,000
Community Concern London						20,000
Bait Limud Vchesed						20,000
Less than f20,000						170,664
Total						2,491,444
Analysis ofGrants to	Institutions:
Advancement ofthe Jewish Religion						194,210
Advancement ofEducation						523,654
ReliefofPoverty						75,200
Grants to other grant making		charities				1,603,680
Other general charitable	purposes					94,700
Total						2,491,444
ANALYSIS OF SUPPORT		COSTS
				Donations
				paid	Total 2020	Total 2019
General office				19,172	19,172	47,728
Governance costs				73,000	73,000	69,669
				92,172	92,172	117,397

NET LOSS	E	SON INVEST	MENTS
				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds	2020	Funds	2019
Gains/(losses)		on disposal of
investment	property			171,564	171,564
Gains/(losses)		on revaluation	of
investment	property					(2 615 600)	(2 615 600)
Gains/(losses)		on listed investments		(3,142)	(3,142)	(9,213)	(9,213)
Gains/(losses)		on investments	in group
undertakings				(3,863)	(3,863)	(2,102)	(2,102)
Gains/(losses)		on other investment
assets				(628,119)	(628,119)	1,494,631	1,494,631
				(463,560)	(463,560)	(1,132,284)	(1,132,284)
NET INCOME
Net income	is	stated after charging/(crediting):
						2020	2019
Depreciation	oftangible fixed		assets			13,072	17,429
Fees payable	for the audit ofthe financial			statements		24,700	]7,301

The charity did not meet any expenses incurred charity (2019:anil). TANGIBLE FIXEDASSETS	by the trustees f	or services prov	ided to the
	Fixtures and
	fittings	Equipment	Total
Cost
At 1January 2020 aad 31December 2020	305,817	25,009	330,826
Depreciation
At 1 January 2020	255,768	22,770	278,538
Charge for the year	12,512	560	13,072
At31December 2020	268,280	23,330	291,610
Carrying amount
At 31December 2020	37,537	1,679	39,216
At 31 December 2019	50,049	2,239	52,288

YEAR INVESTMENTS	ENDED 31DECE	MBER 2020
		Shares in
	Investment	gl'oup	Other
	properties	undertakings	investments	Total
			f.
Cost or valuation
At I January 2020	65,486,350	6,692	1,694,001	67,187,043
Additions	1,251,219		127,353	1,378,572
Disposals	(1,100,000)			(1,100,000)
Fair value movements		(3,863)	(284,000)	(287,863)
At 31December 2020	65,637,569	2,829	1,537,354	67,177,752
Carrying amount
At 31December 2020	65,637,569	2,829	1,537,354	67,177,752
At 31 December 2019	65,486,350	6,692	1,694,001	67,187,043

15.	DEBTORS	YEARENDED 31DEC	EMBER 2020
			2020	2019
	Trade debtors		215,757	239,773
	Prepayments	and accrued income	219,507	288,797
	Other debtors		578,805	398,846
			1,014,069	927,416
16.	INVESTMENTS
			2020	2019
	Listed investments			45,017
	Unlisted investments		1,091,873	1,501,996
			1,091,873	1,547,013

17.	Unlisted investments are CREDITORS: amounts	valued at the trustee's valuation, based on falling due within one year	their net asset va	lue.
			2020	2019
	Trade creditors		70,786	117,780
	Accruals and deferred income		48,320	30,089
			119,106	147,869
18.	CREDITORS: amounts	falling due after more than one year
			2020	2019
	Bank loans and overdratts		14,000,000	14,000,000

									At							At
								1 January							Gains and	31December
									2020		Income		Expenditure		losses	2020
														f,	t.	f,
	General	funds					57,703,236			4,991,112			(3,796,132)		(463,560)	58,434,656
									At							At
								1 January							Gains and	31 December
									2019		Income		Expenditure		losses	2019
	General	funds					57,61		5,865	4283 531			(3063 876)		(1,132,284)	57,703,236
20.	ANALYSIS OF NET ASSETS								BETWEEN		FUNDS
															Unrestricted	Total Funds
															Funds	2020
	Tangible	fixed		assets											39,216	39,216
	Investments														67,177,752	67,177,752
	Current	assets													5,336,794	5,336,794
	Creditors	less	than		I year										(119,106)	(119,106)
	Creditors	greater than				1 year									(14,000,000)	(14,000,000)
	Net assets														58,434,656	58,434,656
															Unrestricted	Total Funds
															Funds	2019
	Tangible	fixed		assets											52,288	52,288
	Investments														67,187,043	67,187,043
	Current	assets													4,611,774	4,611,774
	Creditors	less	than		1 year										(147,869)	(147,869)
	Creditors	greater than				1 year									(14,000,000)	(14,000,000)
	Net assets														57,703,236	57,703,236
21.	FINANCIAL			INSTRUMENTS
	The carrying		amount for each category offinancial									instrument		is as follows:
															2020	2019
	Financial assets measured at fair value through											income and		expenditure
	Financial	assets measured					at	fair	value through		income		and
	expenditure														2,632,056	3,247,706

								2020	2019
Financial	assets that are debt instruments				measured		at amortised	cost
Financial	assets that	are debt instruments		measured		at	amortised
cost								989,273	911,427
Financial	liabilities	measured	at amortised		cost
Financial	liabilities	measured	at amortised	cost				14,094,310	14,131,880

ANALYSIS OF CHANGES IN NET	DEBT
	At		At
	1 Jan 2020	Cash flows	31Dec 2020
		I,
Cash at bank and in hand	2,137,345	1,093,507	3,230,852
Debt due after one year	(14,000,000)		(14,000,000)
Current asset investments	1,547,013	(455,140)	1,091,873
	(10,315,642)	638,367	(9,677,275)