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|||||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|
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||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|
##
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||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|
##
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|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|
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||||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|
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|||||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|
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|||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|
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|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|
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|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|
##
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|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|
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|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|
##
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|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|
##
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||||||||||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|
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|||||||||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)|
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