| PAGE | |||||
|---|---|---|---|---|---|
| Trustees' | annual report | (incorporating | the director's report) | ||
| Independent auditor's |
report to the members | ||||
| Statement | of financial | activities (including | income and expenditure | ||
| account) | |||||
| Statement | of financial | position | 12 | ||
| Statement | ofcash flows | ||||
| Notes to | the financial | statements |
| YEAR ENDED | 31 DECE | MBER 2021 | MBER 2021 | |
|---|---|---|---|---|
| 2021 | 2020 | |||
| Unrestricted | ||||
| funds | Total fuads | Total funds | ||
| Note | f. | 8 | ||
| INCOME AND ENDOWMENTS Investment income |
5 | 3,092,177 | 3,092,177 | 4,991,112 |
| TOTAL INCOME | 3,092,177 | 3,092, 177 | 4991 112 | |
| EXPENDITURE | ||||
| Expenditure on raising funds; Investment management costs Expenditure on charitable activities |
6 7,8 |
(I 367 013) (1,486,274) |
(I 367013) (1,486,274) |
(1,212,516) (2,583,616) |
| TOTAL EXPENDITURE | (2,053,207) | (2,1153,207) | (3,796,132) | |
| Net gains/(losses) on investments |
10 | 5,696,834 | 5,696,834 | (463,560) |
| NXT INCOMX 4NN NXT MOVXMXNT)N | TCNes | 5935 724 | 5 935 724 | 731,420 |
| RECONCILIATION OFFUNDS Total funds brought forward |
58,434,656 | 58,434,656 | 57,703,236 | |
| TOTAL FUNDS CARRIED FORWARD | 64,370,380 | 64,370,380 | 58,434,656 |
| 31DECEMB | ER 20 | 21 | ||
|---|---|---|---|---|
| 2021 | 2020 | |||
| Note | K | |||
| FIXEDASSETS Tangible fixed assets Investments |
13 14 |
29,412 76,525,945 |
39,216 67,177,752 |
|
| 76,555,357 | 67,216,968 | |||
| CURRENT ASSETS Debtors Investments Cash at bank snd in hand |
15 16 |
863,957 1,085,762 92,049 |
1,014,069 1,091,873 3,230,852 |
|
| 2,041,768 | 5,336,794 | |||
| CREDITORS: amounts year |
falling due within one | 17 | (226,745) | (119,106) |
| NET CURRENT ASSETS | I 815023 | 5 217 688 | ||
| TOTAL ASSETS LESS | CURRENT LIABILITIES | 78,370,380 | 72,434,656 | |
| CREDITORS: amounts than one year |
falling due after more | 18 | (14,000,000) | (14,000,000) |
| NET ASSETS | 64370360 | 56434656 | ||
| FUNDS OFTHE CHARITY Unrestricted funds |
64,370,380 | 58,434,656 | ||
| TOTAL CHARITY FUNDS | 19 | 64,370,300 | 56,434,656 |
| CHALFORDS LIMITED COMPANY LIMITED BYGUARANTEE STATEMENT OF CASH FLOWS YEARENDED 31DECEMBER2021 |
||
|---|---|---|
| 2021 | 2020 | |
| CASH FLOWS FROM OPERATING ACTIVITIES Net income |
5,935,724 | 731,420 |
| Ajdustments for: Depreciation oftangible fixed assets Net gains/(losses) on investments Dividends, interest and rents from investments Interest payable and similar charges Accrued expenses |
9,804 (5,694,940) (2,221,030) 487,355 |
13,072 463,560 (4,287,401) 524,709 13,731 |
| Changes in: Trade and other debtors |
11,000 | |
| Cash generated from operations |
(1,483,087) | (2,529,909) |
| Interest received | (1,383) | (14,208) |
| Net cash used in operating activities |
(1,4114,470) | (2,544,117) |
| CASH FLOWS FROM INVESTING ACTIVITIES Dividends, interest and rents from investments Purchases ofother investments Proceeds from sale ofother investments Change in trade and other debtors Change in trade and other creditors |
2,228,524 (3,774,724) 121,471 125,316 132,435 |
4,301,609 (1,378,572) 1,313,440 (22,844) (51,300) |
| Net cash (used in)/from investing activities |
(1.166,970) | 4,162,333 |
| CASH FLOWS FROM FINANCING ACTIVITIES Interest paid |
(487,355) | (524,709) |
| Net cash used in financing activities |
(407,355) | (524,709) |
| NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT BEGINNING OFYEAR |
(3,138,803) 3,230,852 |
1,093,507 2,137,345 |
| CASH AND CASH EQUIVALENTS AT END OFYEAR | 92,049 | 3.230,052 |
| Unrestricted | Total Funds | Unrestncted | Total Funds | |||
|---|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |||
| Income Income Interest |
from investment properties from other investments receivable |
3,011,835 47,557 32,785 |
3,011,835 47,557 32,785 |
3,481,671 1,455,376 54,065 |
3,481,671 1,455,376 54,065 |
|
| 3,092,177 | 3,892, 177 | 4,991,112 | 4,991,112 |
| NVESTMENT MANAGEM | ENT C |
OSTS | |||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| Repairs & maintenance Management &letting fees Mortgage interest and finance Other investment management |
costs costs |
243,025 269,477 487,355 367,156 |
243,025 269,477 487,355 367,156 |
203,740 256,493 524,709 227,574 |
203,740 256,493 524,709 227,574 |
| 1,367,013 | 1,367,013 | 1,212,516 | 1,212,516 |
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | ||
| Donations paid Support costs |
1,364,881 121,393 |
1,364,881 121,393 |
2,491,444 92,172 |
2 491 444 92,172 |
|
| 1,486,274 | 1,486274 | 2,583,616 | 2,583,616 |
| YEA DONATIONS PAID |
R ENDED | 31 DECE | MBE | R2021 | ||
|---|---|---|---|---|---|---|
| Grant | ||||||
| funding of activities |
Support costs | Total funds 2021 |
Total fund 2020 |
|||
| Donations paid Governance costs |
1,364,881 | 43,942 77,451 |
1,408,823 77,451 |
2,510,616 73,000 |
||
| 1,364,881 | 121,393 | 1,486,274 | 2,383,616 | |||
| Included in donations paid are |
grants made | to the following | institutions: | |||
| LPW Limited Tchabe Kollel Limited Start Upright Rise and shine Vishnitz Girls School Limited Care All Limited Friends ofWiznitz College For Higher Rabbinical Studies Congregation Sharei Sholom Tchabe Chasdei Sholom Trust Community Concern London Shaarei Orah Edupoorltd Support the Charity Worker North London Welfare Better World Charity |
464,896 86,000 86,000 80,000 72,000 58,000 50,000 36,000 36,000 36,000 33,150 30,250 30,000 30,000 26,000 23,500 |
|||||
| Less than f20,000 | 187,085 | |||||
| Total | 1,364,881 | |||||
| Analysis ofGrants to Institutions: | ||||||
| Advancement ofthe Jewish Religion Advancement ofEducation Relief ofPoverty Grants to other grant making charities Other general charitable purposes |
731,776 416,207 113,750 40,210 62,938 |
|||||
| Total | 1,366,881 |
| 9. | ANALYSIS OF SUPPORT | COSTS | ||||
|---|---|---|---|---|---|---|
| Donations | ||||||
| paid | Total 2021 | Total 2020 | ||||
| General office Governance costs |
43,942 77,451 |
43,942 77,451 |
19,172 73,000 |
|||
| 121,393 | 121,393 | 92,172 | ||||
| 10. | NET GAINS/(LOSSES) ON | INVESTMENTS | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||
| Funds | 2021 | Funds | 2020 | |||
| Gains/(losses) on disposal of investment property |
121,471 | 121,754 | 171,564 | 171,564 | ||
| Gains/(losses) on revaluation of investment property Gains/(losses) on listed investments |
5,358,283 | 5,358,283 | (3,142) | (3,142) | ||
| Gains/(losses) on investments undertakings |
in group | (3,863) | (3,863) | |||
| Gains/(losses) on other investment assets |
217,080 | 217,080 | (628,119) | (628,119) | ||
| 5,696,834 | 5,694,834 | (463,560) | (463,560) | |||
| 11. | NET INCOME | |||||
| Net income is stated after charging/(crediting): | 2021 | 2020 | ||||
| Depreciation of tangible fixed assets Fees payable for the audit ofthe financial |
statements | 9,804 25,201 |
13,072 24,700 |
| 13. | YEAR TANGIBLE FIXEDASSETS |
ENDED 31DECE | MBER2021 | ||
|---|---|---|---|---|---|
| Fixtures and | |||||
| fittings | Equipment | Total | |||
| Cost At 1January 2021and 31December 2021 |
305,817 | 25,009 | 330,826 | ||
| Depreciation At 1 January 2021 Charge for the year |
268,280 9,384 |
23,330 420 |
291,610 9,804 |
||
| At 31 December 2021 | 277,664 | 23,750 | 301,414 | ||
| Carrying amount At 31December 2021 |
28,153 | 1,259 | 29,412 | ||
| At 31 December 2020 | 37,537 | 1,679 | 39,216 | ||
| 14. | INVESTMENTS | ||||
| Shares in | |||||
| Investment properties |
group undertakings |
Other investments |
Total | ||
| Cost or valuation At 1 January 2021 Additions Fair value movements |
65,637,569 609,724 5,358,282 |
2,$29 | 1,537,354 3,165,000 215,187 |
67,177,752 3,774,724 5,573,469 |
|
| At 31December 2021 | 71,605,575 | 2,829 | 4,917,541 | 76.525,945 | |
| Carrying amount At31 December 2021 |
71,695,575 | 2,829 | 4,917,541 | 76,525,945 | |
| At 31December 2020 | 65,637,569 | 2,$29 | 1,537,354 | 67,177,752 |
| 15. | have not been consolidated into the accounts of Cha immaterial. DEBTORS |
lfords Limited as they are d |
eemed to be |
|---|---|---|---|
| 2021 | 2020 | ||
| Trade debtors Amounts owed by group undertakings Prepayments and accrued income Other debtors |
142,089 2,900 171,022 547,946 |
215,757 219,507 578,805 |
|
| 863,933 | 1,014,069 | ||
| 16. | INVESTMENTS | ||
| 2021 | 2020 | ||
| Unlisted investments |
1,085,762 | 1,091,873 | |
| 1,085,762 | 1,091,873 |
| CREDITORS: amounts falling due within one ye |
ar | |
|---|---|---|
| 2021 | 2020 | |
| Trade creditors Accruals and deferred income |
36,556 36,689 |
70,786 48,320 |
| Other creditors | 153,500 | |
| 226,745 | 119,106 |
| CRE | DITO | RS: | amounts falling due after mor |
e than one year | |
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Bank | loans | and | overdraiis | 14,000,000 | 14,1100,11011 |
| ANALYSIS Unrestricted |
OF CHA funds |
RITABLE FUND | S | |||
|---|---|---|---|---|---|---|
| At | At | |||||
| 1 January 2021 |
Income | Expend)tore | Gains and losses |
31 December 2021 |
||
| f, | f. | |||||
| General funds | 58.434,656 | 3,092,177 | (2,853,287) | 5,696,834 | 64,370,380 | |
| At | At | |||||
| 1 January 2020 |
Income | Expenditure | Gains and losses |
31 December 2020 |
||
| General funds | 57,703,236 | 4,991,112 | (3,796,132) | (463,560) | 58,434,656 |
| 20. | ANALYSIS OFNET ASSET | SBETWE | E | N | FUN | DS | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | |||||||||||
| Funds | 2021 | |||||||||||
| Tangible fixed assets Investments Current assets Creditors less than 1 year Creditors greater than 1 year |
29,412 76,525,945 2,041,768 (226,745) (14,000,000) |
29,412 76,525,945 2,041,768 (226,745) (14,000,000) |
||||||||||
| Net assets | 64,370,380 | 64,370,380 | ||||||||||
| Unrestricted | TotalFunds | |||||||||||
| Funds | 2020 | |||||||||||
| Tangible fixed assets Investments Current assets Creditors less than 1 year Creditors greater than 1 year |
39,216 67,177,752 5,336,794 (119,106) (14,000,000) |
39,216 67,177,752 5,336,794 (119,106) (14,000,000) |
||||||||||
| Net assets | 58,434,656 | 58,434,656 | ||||||||||
| 21. | FINANCIAL INSTRUMENTS | |||||||||||
| The carrying amount for each |
category of | financial | instrument | is as follows: 2021 |
2020 | |||||||
| Financial assets measured at fair value | through | income | and | expenditure | ||||||||
| Financial assets measured at fair value through expenditure |
income | and | 6,006,132 | 2,632,056 | ||||||||
| Financial assets that are debt instruments | measured | at | amortised | cost | ||||||||
| Financial assets that are debt cost |
instruments | measured | at | amortised | 863,957 | 989,273 | ||||||
| Financial liabilities measured at amortised cost Financial liabilities measured at amortised cost |
14,226,745 | 14,094,310 | ||||||||||
| 22. | ANALYSIS OF CHANGES | IN NET DEBT | ||||||||||
| At | At | |||||||||||
| 1Jan 2021 | Cash flows | 31Dec 2021 | ||||||||||
| Cash at bank and in hand Debt due after one year Current asset investments |
3,230,852 (14,000,000) 1,091,873 (3,138,803) (6,111) |
92,049 (14,000,000) 1,085,762 |
||||||||||
| (9,677,275) | (3,144,914) | (12,822,1119) |