Ooculgn Envelope ID.. 69AE82BF-9B304E3F-eFeD-D2C9ECIA38D2 COMPANY REGISTRATION NUMBER: 01724781 CHARITY REGISTRATION NUMBER: 287322 CHALFORDS LIMED COMPANY LIMrrED BY GUARANfEE FINANCIAL STATEMEiYrs 31 DECEMBER 2023 COHEN ARNOLD Chart¢red accountants & Statutory Auditor New Burlington House 1075 Finchley Road London NWII OPU
Docuslgn Envglope ID.. 6gAE82BF-9B34E3F-BF8D2c9Ec1A38D2 HALFORDS LIMITED COMPANY LIMITED B Y GUARANTEE FINANCIAL STATEl¥tENTS YEAR ENDED 31 DECEMBER 2023 PAGE Trustccs, annual report (incorporating the diTectorfs report) Independent auditor's report to the members Statement of financial activities (including income and expenditure account) Statement of financial position Statement of cash flows 12 13 14 Notes to the financial statements Is
DoGuslgn Envelopè ID.. 69AE828F.98304E3F-BF8D-D2C9EC1A38D2 CHALFORDS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEESI AKNUAL REPORT NcORPO]L4TNG THE DIRECTOR'S REPORT) YEAR ENDED 31 DECEMBER 2023 The trustees, who are also the dir¢ctors for th¢ Purposes of company law, present their r¢port and the financial siatements of the chwity for the year ended 31 December 2023. REFERENCE AND ADMINISTIL4TIVE DETAILS Ch&lfords Limit¢d Registered charity name ChArlty reglstratlon nvmber 287322 Company registr&¢loD Dumber 01724781 Prlnclpal omce and wlstered New Burlington House off¢ 1075 Fin¢hley Road London Nwi I OPU THE TRUSTEES Mr IL Weiler Mrs R Greenberg Mr A Weiler Mr M Weiler Mr J Weiler COMPANY SECRETARY Mrs R Oreenberg Cohen Arnold Chartered accountants & Statutory Auditor New Burlington House 1075 Finchl¢y Road London NWI I OPU AUDITOR SOLICITORS Qreenwood & Co Premier House 12- 13 Hallon Garden London ECIN8AN
DocuskJn Envelope ID.. 69AE82BF-9B304E3F4F8D-D2C9EC1A3802 COMPANY LIMITED B Y GUARANTEE TRUSTEES, ANNUAL REPORT (INCORPOIL4TING THE DIRECTOR'S REPORT) (¢oArfM¥ed) YEAR ENDED 31 DECEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMELYr GovernlDg Document Chalfords Limited is a company limited by gLwanl¢e and is govern¢d by its Memorandum and Articles of Association. AppolntmeD¢ Tralnlng Recruitment of Trusttes All current trustees are ordinary members and no honorary members have been appointed. Every 8overnor/trustee holds office until helshe shall die or shall cease lo hold offic¢ by virtue of the Articles of Association. Where ihere is a requlremenl for new Iruslees, these are identified and appointed by the existin8 tTUStees. The chair of trustees is responsible for th¢ induction of any new trustee, which involves awareness of a trustee's r&sponsibilities. the governing docuinent. administrativ¢ procedure5. and the history and philosophical approach of the charity. A new trust¢e receives copies of the previous year's annual report and accounts, with detailed explanation thereof. All Irusiees give their lime voluntarily and no benefit or expenses were paid lo them during the period. OrgaDl$Otlon The organisalion is run by governotB who are the trustees. The day-to-day affairs of the company are administered by the Governors (Truslees) whos¢ Chair is Mr l L Weiler. None of the. governorslirustees have any beneficial interest in the company. Group Structure and RelAtlon$hlps Th¢ charity has a wholly owned non-charitable operating subsidiary. Newray (London) Limited. a ¢ompany incorporated in England and Wales (Company number.. 00456304). The subsidiary undertaking's nature of business was thai of property tradin& alihough it is now dorniant. 'I'he accounts of Newray (London) are not consolidated into the accounts of Chalfords Limited a5 they are considered immateria]. The charity has two wholly owned non-charitable operating subsidiary. l) Newray (London} Limited, a company incorporated in England and Wales {Company number.. 00456304). Newray's naiure of business that of property trading, h]though it is ni)w domant. The accounts of Newray (London) are nol consolidaled into the accounts of Chalfords Limited as they are considered immateria]. 2) Chancery MK9 Limited, a company in¢orporated in England and Wale5 (Company number. 12935868). Chancery MK9 Limited is a a dormant Company. The ¢0ltS of Chancery MK9 Limited are not con501idated into the accounts of Cha]fords Limiled as they are considered immaterial. Related Parlies Details of transactiotls With related parties are disclosed in the Notes to the Financial Statements.
Owv5ign Envelcyp ID.. 69AE82BF-98304E3F-BF8D-D2C9EC1A38D2 CHALFORDS LIMITED COMPANY LIMITED BY GUAIL4NTEE TRUSTEESI ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) YEAR ENDED 31 DECEMBER 2023 OBJECTIVES AND ACTIVITIES Charltable Objects The charity is established to fvrther those purposes recognised as charitable by English Law and in furtherance of the following obje¢ts. - the advancemenl of religion in accordance with Orthodox Jewish faith. - the advancement of Jewish Religious Education - the lIef of pov¢rty' for other purp)ses as are recognised by English Law as charitable. The charity e1Ved income mainly from its property and other investments which it utilises in th¢ provision and distribution of grants and donations. The charity's principal activiiy throughout the year w85 the provision and distribution of donaiions pnd grants lo organi5ations, and no ¢hange is envisag¢d in ihe immediale bjiure. Gr8nt maklng poll¢y Grants are made to ¢hAritabl¢ institionS and organisalions which conform to the objects of the charity aft¢r the trustees have satisfied themselves as lo the bona fides of the recipients. Grantg are considered for both capital projects and revenue funding. The Iruslees are approached for donations by a wide variety of charitable inslilulions operating all ov¢r England. The trustees consid¢r all requests which they receive and make donations based on the level of fwids available. Alms, obJec¢lves aetlvltles for publle bene(It The trustees confirni that they have r¢ferred to guidelines contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future aclivilies and setting the grant making policies for the year. This charity was established to support the activities of Jewish Teligious organisations, especially in the field of education and lo provide philanthropic aid lo the needy. Donation5 are made lo or8anis)tions providing a sound r¢ligiouy education in accordance with doctrines and principles of traditional Judaism and to institutions set up to provide Aid to the needyk With a view lo achievin8 the objects of the charity, ACHIEVEMENTS AND PERFORMANCE Durin£ th¢ year, the charity continued its philanthropic activities and has maintained suppon lo ¢Stablished Jewish Orthodox institutions providing edu¢ation. advancement of religion 8nd relief for the poor. Grants and donations of £1,324.533 (2022.. £5,284.692) was distributed dwing the year in furtherance of the charity's objectivary. The financial results of th¢ charity for the y¢ar ended 31 December 2023 are fully reflected in the attached financial statements together with the note5 thereon.
Do¢uslgn En¥lop8 ID." 69AE828F-98304E3F-BF8D-D2C9EC1A38D2 COMPANY LIMITED B Y GUARANTEE TRUSTEES, ANNUAL REPORT {INCORFORATING THE DIRECTOR'S REPORT) (¢oryliJr4e YEAR ENDED 31 DECEMBER 2023 FINANCIAL REVtEW The financial position of the charity is satisfactory. The charity's Statement of financial activities shows n¢1 income of £672.873 (2022.. £1,451,343). and total reserves of £63.591,910 (2022,. £62.919,037). lTrvestment Powers and Pollcy Under the Memorandum and Articles of Association, the chgrity has the rK)wer lo make any investment which the trustees see fit provided that funds utilised are not immediately required for use in ¢onnection with any of its objects. The trustees regularly review Ihe charity's position and needs in r¢sp¢¢l of the investment policy. The charity holds investsnents of primarily residential and Gommercial property. The inveslment income is distributed in a¢cordanc¢ with the charity's obj1$. Reserves pollcy It is the policy of thc charity to malntain unreslricled funds at a level wliicli the trustees think appropriate after considerin8 the future eommilmenls of the charity and the likely costs of the charity for the next year. At 31 December 2023. the charity had total funds of £63.591,910, all of which are unrestricted funds, PRINCIPAL RISK AND UNCERTAINTIES Rl$k mAn4gement The trustees have iderttified and reviewed the major risks lo which the charity is exposed, in porticular those related lo the operations and finance of the charity, and are satisfied that 5ysl¢m5 are in place to mitigate those risks. It Is reco8nised that systems can only provide reasonable but not absoluie assuran¢¢ that major risks have b¢¢n adequately managed, Fln4nclal rlsk mDagement And pollel The charity holds or issues financial instrumenis in order lo achieve three main objectives being.. a) to finance its operations b) to manage its exposure to interest and currency risks arising from operations and from its sources of finance. and c) to generate funds. In addition various financial instnunenls (e.g. debtors, CTeditors. prepayments and ¢rUalS) arise directly from the charity's operations. Credit Rtsk Th¢ ¢harity monitOTS credit risk c105ely and consid¢rs that its current policies of ¢redil risk checks meets its objectives of managing exposure to credit risk. The charity has no significant concentrations of credit risk. Amounts shown in the balance sheet represent the maximwn anlicipaled credit risk exposure, It is reColSed that systems can only provide reasonable but not absolute assurance that major risks have ixen adequately managed.
DLU51gn Envelope ID.. 69AE828F-983LlE3F-F8D-D2c9EClA38D2 CHALFORDS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEESI ANNUAL REPORT ONCORPORATING THE DIRECTOR'S REPORT) YEAR ENDED 31 DECEMBER 2023 PLANS FOR FUTURE PERIODS The trustees continue to seek ways lo maximise the chatity's in¢ome from its investments to enable il to ¢onlinue its charitable objectives. TRUSTEESI RESPONSIBILITIES STATEMENT The truslees. who are also diwlors for the purposes of company law, are responsible for preparing the trustees, report and the financial stalemenls in a¢cordance wilh applicable law and Uniied Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practic¢). Company law requires the charity trustees to prepare fin8n¢ial statements for each year which give a ttue and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure. for ihat period. preparing these financial statemenis. the Irustees are required to.. select suitable aceounling policies and then apply them consistently, observe the methods and principles in the appli¢abl¢ Charities SORP; make judgments and accountin8 estirnates that are reasonable and prndent, prepare the financial stateinenls on the going concern basis unless it is inappropriate lo presume that the chariry will continue in business. Th¢ trLL8tees are r¢sponsible for keeping adequate a¢¢ounting records that are SU1¢1¢nt to show and explain th¢ charity's transactions and disclose with reasonabl¢ accuracy al any time the financial position of the charity and enable them lo ¢nsure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the &ssets of the charity and hence for taking reasonabl¢ sl¢ps for ihe prevention and deieclion of fraud and other inegulariti¢s. AUDITOR Fach of the persons who is a trustee at the date of approval of ihis report confirn)s that., 50 far as they are aware. there is no relevant audil inforniation of which the charity's auditor 18 unaware. and they have taken all steps that they ought to have taken as a truslee lo make themselves awar¢ of any relevant audil inforniation and to establish that the charity's auditor is aware of that inforniation. The auditor is deemed to hav¢ been re-appointed in accordance with section 487 of the Companie5 Act 2006. SMALL ColANy PROVISIONS This report has been prepar¢d in accordance with the provisions applicable lo companies ¢ntitled to the sma]I companies exemption.
DOCU9 Envelope ID.. 69AE828F-9B31HE3F-BF80-D2C9EC1A38D2 CHALFORP_.S. LIM_ITED COMPANY LIMITED BY GUARANTEE TRUSTEESI ANNUAL REPORT ONCORPORATING THE DIRECTOR'S REPORT) YEAR ENDED 31 DECEMBER 2023 The trustees, annual report was approved on 30 September 2024 and $ied on beh&lf of the bo8rd of trustees by: A8512CC8IOEC421.. Mr l L Weil¢r Trustee
Doc%gn EnhEbpe ID.. 69AE82BF-98304E2F-BF8D-D2C9EC1A38D2 CHALFORDS LIMrrED COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHALFORDS LIMITED YEAR ENDED 31 DECEMBER 2023 OPINION We have audited the financial slalemenls of Chalfords Limited (the 'charily') for the year ended 31 December 2023 which comprise ih¢ stateTnent of financial &cliviti¢s {including income and expenditur¢ accouni), slalement of financial position. ststemenl of c&sh flows and the related noies. including a summary of significant a¢wunting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Gener&lly Accepted A¢counting Practice). In our opinion the financial statements.. give a true and fair view of the state of th¢ charity's affairs &$ at 31 December 2023 and of its incoming resources and application of resources, including its income and ¢xpendilure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. have been prepared in aceordartce with the requirements of the Companie5 Act 2006. BASIS FOR OPINION We conducted our audit in accordance with International Standards on Audiiing (UK) (ISAS (UK)) and applicable law. Our responsibilitie5 under those standards are further described in the auditor'$ responsibilities for the audit of the financial statements section of our report. We ar¢ independent of the charity in a¢cordance with lh¢ ethic requirements that are relevant to our audit of the finan¢iai statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethicHI reqpon5ibilities in accordance wilh these requirements. We believe that the audit evidence we have obtained is suificient and appropriate lo provide a basis for our opinion. CONCLUSIOLYS RELATING TO Goif4G CONCERN In auditing the financial statements. we have concluded that the trust¢¢s' use of the going concern basis of &c¢ounlin8 in the preparation of the financial statements is appropriate. B&sed on the work we have perfomied. w¢ have not identifi¢d any material uncertainties relating lo events or conditions that, individually or Collectively, may cast significant doubt on the charity's ability to continue as a going concern for & period of at least fwelve month5 from when the financial staleznenls are auihori5ed for issue. Our r¢sponsibilities and the responsibilities of ihe IrLL8tees with respect to going concern are described in the relevant sections of thi5 report.
DOCu9n Envelope ID.. 69AE82BF-gB3O4EaF-BF8O2c9EClA3BD2 COMPANY LIMITED B Y GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHALFORDS LIMITED YEAR EIYDED 31 DECEMBER 2023 OTHER INFORMATior4 The other information comprises the inforniation included in the ann report. other than the financial statements and our auditor's report Ihereon. The tTUStees are responsible for the other information. Our opinion on the financial stal¢m¢nts does not cover th¢ other information and, except to the ex¢¢nl otherwise explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. In conrfection with our audit of the financial statements. our responsibility is lo read the other infomiation and, irt doing so, consider whether the other information is materially inconsisl¢nl with the financial slalements or our knowledge obtained in the audit or otherwise appears lo be materially misslaled. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial Statements or a malerial misstatement of the other inforrnalion. If, based on the work we have performed, we conclude ihat there is a material misstatement of this other information, w¢ Ore required lo report that fact. We have nothing to report in this regard. OPINIONS ON OTHER MAThERS PRESCHIIIED BY THE COMPANIES ACT 2006 In our opinion. based on the work undertaken in the course of the audit: the information given in the trustees, report for th¢ financial year for which the financial slatements are prepared is consislenl with the financial statements. and the trustees, report been prepared in accordance with applicable legal requirements. MATTERS ON WHICH WE ARE RF.QUIRED TO REPORT BY EXCEPTION In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not idenlified material migstatements in the trustees, report. We have nothing to report in respe¢l of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate countIng records have not been kept, or retums adequate foT our audit have not been received from brgn¢hes not visiied by us; or the financial statements are not in agreement with the ac¢ounling record5 and retums. or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the infomiation and explanations we require for our audit. or the trLLSt¢es were not enliiled to prepare the financial statements in accordance with the small coiiipanies re8iiiie arid take advantuge of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report.
Docuslgn En*bpe10.. 69AE82SF-9834E8F-BF8D-D2C9EclA3D2 CHALFORDS LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENf AUDITOR'S REPORT TO THE MEMBERS OF CHALFORDS LIMITED YEAR ENDED 31 DECEMBER 2023 RESPONSIBILITIES OF TRUSTEES As explained more fully An the trustees, responsibilities stalemenL the trustees (who are a]so the direetors for th¢ purposes of company law) are responsible for the preparation of the financi statements and for being satisfi¢d that they give a true and fair view, and for such internal COTrtrol as the tTuslees deterniine is necessary to enable the preP&t10n of financial statements that are free from material misstatement, whether due lo fraud or error. In preparing the financial statementg. Ihe trustees are responsible for assessing the charity's ability to onlinue &$ a going concern. disclos1T as applicable, matters relaled lo going concern and using the going concern basis of a¢¢ounting unless the trustees eith¢r intend lo liquidate the charity or to ceas¢ operations, or have no realisti¢ allemalive but to do so. AUDITORIS RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from materia] misstalemenl. whether due lo fraud or error. and to issue an auditor'5 report that includes our opinion. Reasonable surance is a high level of assurance, bul is not 8 guarantee that art audit conducted in a¢cordance with ISAS (UK} will always detecl a material misstatement when it exists. Misstatements can arise from fraud or error and are conSided material if. individually or in th¢ aggregate. they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial sialemenls. Irre8ularili¢s, including fraud, are inslan¢¢s of non-compliance wiih18W5 and regulations. We desi8n pro¢edures in line with our responsibilities, outlined abov¢, lo dele¢l material misstatements in 5p¢ct of irregularities. including fraud. The extent to which our pledureS are capable of dele¢ting irregularilies, including fraud is d¢tailed below: We obtained 8n understanding of ihe legal 8nd Tegulalory frameworks that are appli¢able to the company> Elnd determined that the most relevant lo the presentation of the financial s(atements are (hose Ihat relate lo ihe reporting legislation (UK GAAP, the Companies Act 2006 and the Charities SORP (FRS 102)}, the relevant regulations in the Uniled Kingdom, the Landlord and Tenant Act, the UK General Data Protection Regulation (GDPR), Health & Safety R¢gulations and the Bribery Act. We understood how the company is complying with those frameworks through di5CU5sion with the trustees and senior management. and by identifying the ¢ompany's poli¢ies and procedures regarding compliance wilh laws and regulalions. We also identified thos¢ members of management who have the primary responsibility for ensuring compliance with laws and regulations, and for reporting any known instances of non-compliance to ihe trustees. We communicated these identified frameworks amongst our audil team and remained alert to any indications of non-compliance throughout the audit. We ensured that the engagement team had sufficient competence and Capability to identify or recognise non-compliance with laws and regulations. We discussed with the trustees and senior management the policies and procedures regarding compliance with these legMI and regulatory frameworks. We &8ses5ed the susceptibility of the company's financial statements to material mis5tatem¢nt, including how fraud might occur, by reviewing the eompany's identified risks and enquiry with the Iru$tee5 and senior management during the plhnning and finalisation phases of our audit. The susceptibility to such material misstatement was del¢rn)in¢d io be low.
DOj51 Envalopa ID.. 69AE$28F.9834EJF-9F6D-D2c9EC1A38D2 COMPANY LIMITED B Y GUARANTEE INDEPEIYDENT AUDITOR'S REPORT TO THE MEMBERS OF CHALFORDS LILIqITED (¢onWnM•d) YEAR ENDED 31 DECEMBER 2023 Based on this understanding we designed our audit procedures to identify non-compliance with the identified legal and regulatory frameworks. which were part of our procedures on the related rinancial statement items. Our pri)cedur¢s included reviewing the company's intemal controls policies and procedures, r¢viewing the minutes of board meetings and correspondence with regulatory bodies including HMRC. iesling tremsactions outside the nom)al course of the business and journal entrie5. and discussions with the trustees and senior management. Owing lo the inherent limitations of an audit, there 15 an unavoidable risk that we may not have detected some material misstatements in the finaneial statements, even though we have properly planned and perfornied our audit in accordance with auditing standards. For example. the further removed non-compliance with laws and regulations (iTregularities) is from the events and Iransaetions reflected in the financial statements, the less likely the inherently limited procedures r¢quir¢d by auditing standards would identify it. In addition. as with any audit. Ihere remained a higher risk of non-detection of irregularities. as these may involve collusion. forgery. intentional omission5, misrepresentalions. or the override of internal controls. We are not responsible for preventing non-complia¢ and cannot be expected to deleci non-compli&nc¢ with all laws and regulations. As part of an audit in accordance with ISAS (UK), we exercise professional judgrnent and maintain professional scepticism throughout the audit. We also., Identify and assess the risks of material misstalemenl of the financial statements. whether due lo fraud or error. desi8n and perforni audit procedures responsive lo those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error. fraud may involve collusion, forgery* intentional omissions. misrepresentations, or the override of inlernal control. Obtain an understanding of internal ¢onlrol relevant to the audit in order to design audit procedures that are appropriate in the circumslan¢es, but not for the purpose of expressing an opinion on the effectiveness of il)e inlemal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriatenes5 of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainly exists related io events OT ¢ondilions that may cast significant doubt on the Charity's ability to conlirtue a going concern. If w¢ wnclude that a materiAI uncertainty exi51s, we are required to draw Attention in our auditor's report lo the related disclosures in the financial statements or. if such disclosures are inadequate, to modify our opiniiTrn. Qur conclusions are based on the audit evidence obtained lip to the date of our auditor's report. However. future events or conditions may cause the ¢harily lo ease lo continue as a going concern. Evaluate the overall presentation, structur¢ and ¢onlenl of the financial statements, including the disclosures, and wheth¢r the financial statements represent the underlyin8 transactions and events in a mAnner that achieves fair presentation. io-
Docu8 En%loFe ID.. 69AE82BF-98304E3F-8F8D2c9EClA3sTr2 CHALFORDS LIMITED COMPANY LIMITED BY GUAIL4NTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHALFORDS LIMITED YEAR ENDED 31 DECEMBER 2023 We communicate with those charged wilh governance regardin& among other marters. the planned scope and liming of the audit and significant audit findings. including any significant deficien¢i¢s in internal control that we identify during our wdil. USE OF OUR REPORT This report is made solely to the charity's members. &8 a body> in accordance wilh Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has b¢en undertaken so that we might slate to the charity, members those Tnatters we are required lo stat to them in an auditor's report And for no other purpose, To the fvllest extent perniitted by l&w. we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body for our audit worK for this report, or for the opinions we have fomjed. vetStbBERG FCA (Senlor Statutory Auditor) For and on behalf of Cohen Arnold Chart¢r¢d accountants & Statutory Auditor New Burlington House 1075 Trinchley Road London NWII OPU 30 September 2024 li
Do¢usign Env&lop8 ID: 69AE828F-98304E3F-BF80-D2C9EG1A38D2 COIIqPANY LIMITED B Y GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (tNCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 DECEMBER 2023 2023 Unrestricted funds Total fuDds Total funds 2022 N•te Irteome and ¢ndowments Donations and legaci¢s Investment irKom¢ 113.501 3.990.714 4.104,215 4.238,446 4,238,446 4.238.446 4.238.446 Total income Expendlture Expenditure on raising funds.. lllvestment management costs Expenditure on charitable tIvItieS Total expendlture 7 (2,214.754) {2.214.754) (1,328,112) &9 (1.387,550) (1.387.550) {5.443,336) (3.602,304) (3,602.304) (6,771,448) Net 8ains on investments li 36.731 36,731 ,215.890 Net Incomel(expendlture) and net movement In fund$ 672,873 672,873 (1,451,343) Reconclllatlon of funds Total funds broughi forward Total funds carrled fornvArd 62,919,037 62,919,037 64,370,380 63.591.910 63,591,910 62,919,037 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuin8 a¢livilies. TILt ootes pigu 15 to 25 form PArt of thest flD4ncl•l $tl¢¢Tnemts, 12-
DoCu9n Envelope ID.. 8gAE82BF-gB304E3F4F8D-D2C9EC1A38D2 CHALFORDS LIMITED COMPANY LIMITED BY GUAIL4NTEE STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2023 2023 2022 No¢e FIXED ASSETS Tangible fixed assets Investments 14 15 16,544 22,059 79,693.979 79,236,186 79,710.523 79,258,245 CURRENT ASSETS Debtors InvestTnenls Ch at bank and in hand 16 1,394,165 17 1,058.844 36,786 1.433.093 1,066.715 24.763 2.489.795 2,524,571 CREDITORS: amoun¢8 falllDg due wl¢blD one yr ET CURRENT ASSETS 18 (158.408) (113.779) 2.331,387 2,410.792 82,041,910 81,669,037 TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS: amounts f#llln8 due after more ¢hAn Dne yeAr NET ASSETS 19 (18,450,000) (18,750,000} 63.591,910 62.919,037 FUNDS OF THE CHARITY Unrestricted funds 63,591.910 62,919,037 63,591,910 62,919,037 Total charlty funds 20 These financial statements have been prepared in &ccordan¢e wlth the provisions appliGable lo ompanies subject to the small companies, regime. These fi[1¢1a] statements were approved by the board of tn1¢¢5 and authorised for issue on 30 S¢ptember 2024. and are signed on behalf of the board by,. AB$12CCBIOEC&3J.. Mr I L Weller Thistee The notes on p*g45 15 to 25 forffl p¥rt of thest IIDRncial statements.
Docu9n Envebpe ID.. 69AE82BF-9B3(k4E3F-8F8fk02C9EC1A38D2 COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS YEAR ENDED 31 DECEMBER 2023 2023 2022 CASH FLOWS FROM OPERATING AcfiviTIES Net income/(expendiLure) AdJrmentsIor.' Depreciation of tangible fixed &8sets Net gains on inveslments Dividends, interest and rents from investments Other inlerest receivable and similar income li]reI Pdyuble and similar charges Accrued expense5 Changes In.. Other oTatIng cash flow changes C&8h generated from operations Inter¢sl rcccivcd 672,873 (1.451.343) 5.515 7,353 (36,731) (1.428.837) (4,200,593) (2,998,279) (37,853) 984,101 6,767 543.574 4.090.0 (2,605,921) (1.237.532) 37.853 (847) (2,568,068) (1.238,379) Net cash used in operating Activilies CASH FLOWS FROM INVESTING ACTlVtTJES Dividends, interest and ren15 from investments Acquisition of subsidiaries Proceeds from sale of subsidiaries Purchases of oiher investmen15 Proceeds from sde of other inv¢stments Change in trade and other debtOTS Change in trade and other Creditors Nel cash froml{used in) investing activitie5 4,200,593 2,999.126 (i) (2.449) (294) (466,620) (5,626.726) 55,878 255.617 58,141 (547,027) 18,649 (116.028) 3.864.192 (3,035.333) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from borrowings Interest paid Net cash (used in)Ifrom financing activities (300,000) 4,750,000 (984,101) (543,574) (1.284,101) 4,206,426 NET INCREASEI(DECREASE) EN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT BEflNNING OF YEAR CASH AND CASH EQUIVALENTS AT END OF YEAR 12,023 24,763 36,786 (67,286) 92,049 24,763 Tht notes on p#8es IS to 2S form part ofthese Ilnntil trt*témettt& 14-
Docus Envebp8 ID.. 69AE828F-9B304E3F-BF8D-D2C9EC1A38D2 CHALFORDS LIMrrED COMPANY LIMITED B Y GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 GENERAL INFORMATION Th¢ charity is a public knefil entity and a private company limited by guarantee. registered in England and Wales and a registered charity in England and Wales. The address of th¢ registered office is New Burlington House, 1075 Finchley Road. London, NWI I OPU. STATEMENT OF COMPLIANCE These financia] ateMentS have been prepared in compliance with FRS 102, 'The Finan¢ial Reporting Standard applicable in the UK and th¢ Republic of Irel8nd', the Statement of Recommended Pra¢tic¢ applicable to charities prepaTing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) Bulletin l and th¢ Charities Aci 2011. ACCOUNTING POLICIES Bos18 of prepar8tlon The financial statements have been prepared on the historical cogt basis. as modified by the revaluation of certain fingncial 5¢1S and liabilities and investm¢nt properties measured al fair value through income or expenditure. The financial slat¢ments are pr¢pared in sterling which is the functional Currency of the entity. Going eoncern There are no material uncertainties about the charity's abllity to ¢ontinue. Consolldatlott The charity is not required to prepare consolidated accounts in accordance with the Charities A¢t 2011, and h&s taken advantage of ihe option not lo prepare consolidaled financial statements ntained in Section 398 of the Compani¢s Act 2006 on the basis that the charity and ils subsidiary und¢rtakings comprise a small group. Judgements and key sources ofestlmatlon UD¢¢rtlnty The preparation of financial slalements requires management lo make judgements, estimates and &8sumplions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other fa¢tors, including expectations of future evenis that are believed io be reasonable under ihe circum5tsnces. Judgements made by the directors in the application of these accounting policies that have significant effect on the financial $10tement5 and estimates with a significant risk of material adjustment in the next year are as follows: (i) Property valuation The valuation of the cliarity's inve51menl property is inherently subjeclive, dependlng on many factors including the nature of the property. its locaiion and expected future net renial values, market yields and comparable market transaction5. Therefor¢, the valuation is subject to a degree of uncertainty and is made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic eondilions. Is-
DO9n Env91ope ID.. 69AE82BF-gB304E3F-BF8D2CSEClA3BD2 &LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS fcoAilwdJ YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES (cottthrierf) Judgements key sources of estimation uneertalnty fconrfttAe (li) Trade and other deOrS Management uses d¢tails of the oge of trade and other debtors and the Stat of any disputes together with externa] eviden¢e of the credil status of the counterparty in making judgements con¢eming any need to impair the carrying value. Taxatlo The charity 15 not liable to Current tax on its income as it falls within the various exemptions available lo registered charlties. Accordingly, the charity does not recognise any defetTed t&Y liability on properly revaluations as il will apply all funds for qualifying charitable purposes and be eligible for lax exemptions available lo regist¢r¢d charilies. Fund aeeountlng Unrestricied funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds &re unrestricted funds earmarked by the trustees for particular fviure project or commiiment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the temis of an appeal. and fall into one of two sub-classes.. restricied income funds or endowment funds. IneomlDi resources All income is included in the statement of financial tIVitIeS when entitlement has p&ssed to the eharityb Il is probable that the economic benefits associated with the transaction will flow lo th¢ charity and the amount can be reliably measured. Income from donations or grants is recognised when there is evidence of entitlement to th¢ gift, re¢eipl is probable and its amount can be measured reliably. Resourees expended Expenditure is recognised on art accrua15 b15 as a liability is incurred. Expenditur¢ includes any VAT which cannot be fully recovered, and is classified under head]rt of th¢ stalemenl of financial actiyities to which it relates.. Expenditure on raising funds includes th¢ costs of all fundrdising activilies, events. non-charilable trading activilies, alid tli¢ sale ofdtsnal¥d goi)ds. Expenditure on charitable activities includes all costs incutTed by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, in¢luding those support Costs and costs relating to the governance of the charlty apportion¢d lo charitable activities. Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of ils exndIre on ch1tbLe activities. 16-
I)ocuslgn Envelop8 ID.. 69E82BF-9B3EsF.8F8D2c9EC1Aa82 CHALFORDS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES Resources expended (co1#¢) All costs are allocated to expendilure categories rellecting the we of the resource. Direct ¢osts attributable to a single activity are allocated direcily to that activity. Shared costs are apportioned between the activities they contribute to on & r¢&sonable> justifiable and consistent bls. Grants payable Grants payable are charged to the slalem¢nt of financial activities once the charity has made a ommilmenl to pay the grant and this has b¢¢n communicated to the benefi¢iary or ihe grant has been paid, whichever is earlier, Governanee Costs Govemanee Costs include the cost of the preparation and audit of the financial statem¢nts and the cost of any legal advice to the Irusttts on governanc¢ or Conslitulional matters. Tallglble Assets Fixed assets are staled Al cosl1¢55 accumulated depreciation. Depretiallon Deprecialion 15 calculated 50 w lo write off the cost or valuation of an assei, less ils i¢sidual value. over the useful economic life of that asset as follows.. Fixtures and fittings 25VD reducing balance Equipment 25D/• redu¢ing balance Invejlments Unlisl¢d equity investments are initially recorded at cost, and subsequ¢ntly musured al fair value. If fair value cannot be reliably measured, assets are measured at C051 less impaitinenl. Listed investments are measured at fair value wilh chan8e5 in fair valu¢ being recugnised in inwme or expenditwe. Investment property Investment property is initially recorded at C05t, which includes purchase price And any dIrelY attributable expenditure. Investment property is revalued lo its fair value at each reporting date and any changes in fair value are recogni5¢d in income or expenditure. No deprecialion is provided in respect of investment properties applying the fair vue model. AcqulsltloDS and d15P054ls of properti Acquisitions and disposals of propertie5 Are considered to take pla¢¢ at the dat¢ of legal mpletion and are included in the financial statements accordingly. 17-
Docusbn En5k)l0., e9AE82BF-gB304E3F-8F8f>D2CgEC1A38D2 COMPANY LIMITED B Y GUARANTEE NOTES TO THE FINANCIAL STATEMENTS fcoth4¢rf) YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES (euA&A4tffj Flnanelal Instruments A firtanctal asset or a financi liability is recognised only when the charity becomes a party lo the contractual provisions of the instrument. B¥si¢ financial insirumenis are initially recognised at the amount r¢c¢ivabl¢ or payable including any related transa¢lion costs. Current assets and Current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt insiruments are subsequently measured al amortised ¢osl. whe inveslmetils in shares ore publicly traded or their fair value can otherwise be measured reliably* the investment is subsequently m¢asured at fair value with changes in fair value recognised in in¢ome atKI expenditure. All other 5uoh investments are subsequently measured al cost less impairment. Other financial in5trumenis, including derivatives. are initially recognised at fair value, unless payment for an asset is deferred beyond normal business lemis or financed al a rale of interest thal is not 8 market rate, in which case the Se1 is measured al the present value of the fthure payments discounted at a markei rate of interest for a similar debi instrument. Other financial instruments are subsequently measured al fair value, with any ¢hanges reco8nised in the statsmenl or rinancial acliyitieg. Wlth th¢ exception of hedging instrnments in a designated hedging relationship. Fin&neial assets that are measured al cost or amortised cost are reviewed for objeetive evidence of impairment at the end of ea¢h reporting date. If there is objective evidence of impairnient, an impairment 105s is recognised under ihe appropriate heading in the statement of finanGia] activilies in which the initial gain was reeognised. ror all equity instruii)ei)ts regdrdless vf significance, and other financial assets that are individually significant, these are asse5s¢d individually for impaimient. Other financivll assets are either &85essed individually or grouped on the basis of similar credit risk characteristics, Any reversals of impairnient are recognised immediately> to the exlenl that the reversal does not result in a carrying amount of the financial asset that exceeds whal the ¢arrying amount would have been had the impairment not previously been r¢¢ognised. LIMITED BY GUARANTEE Chalfords Limited is a company limited by guardntee govemed by it5 Memorandum and Articles of Associatioll. The liability of each member in ihe event of winding up is limited lo £1. DONATIONS AND LEGACIES Unrestrict¢d Total Funds Unr¢slricted Totai Funds Funds 2023 Funds 2022 Dof4ATIONS Donations received 113,501 113,501 18-
DOc519n Enveknpe10.. 69AE82BF-9B5NE3F-BFBD2c9EClA3eD2 CHALFORDS LIMITED COMPANY LIMrrED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (coHrlnMe4J YEAR ENDED 31 DECEMBER 2023 INVESTMENT INCOME Unrestricted Total Fun(ts Unrestricted Total Funds Funds 2023 Funds 2022 Income frorn investment properties Income from other investments Interest receivable 3,902.259 298,334 37.853 4,238.446 3,902.259 298.334 37,853 4,238.446 3.458,946 470.651 61,117 3.990,714 3.458,946 470,651 61.117 3,990.714 INVESTMENT MANAGEMENT COSTS Unreslricted TotAI Funds Unrestricted Total Funds Funds 2023 Fund5 2022 Repairs & maintenance Management & letting fees Mortgage interest and finan¢e costs Other investment mana8emenl costs 300,291 505,858 984,101 424.504 2,214.754 300.291 505,858 984,101 424,504 2,214.754 204.443 344.038 543,574 236,057 1,328.112 204.443 344.038 543.574 236.057 1.328.111 DONATIONS PAID Unrestricted Tot41 Funds Unrestricted Total Fundy Funds 2023 Funds 2022 Donations paid Support costs 1,324,533 63,017 1,387,550 1,324,533 63.017 5,284.692 158,644 5.443,336 5,284,692 158,644 5,443.336 1.387,550 19-
Docusign Envelop8 ID." 69AE82BF-gB304E3F-BF8D-D2C9EC1A38D2 oRDmET.E COMPAIYY LIMITED BY GUARAwfEE NOTES TO THE FINANCIAL STATEMENTS (ColtrO YEAR ENDED 31 DECEMBER 2023 DONATIONS PAID Grant fundin8 of activities Support costs Total fund8 2023 Total fund 2022 Donations paid Govemance costs 1.324.533 24,879 38,138 63,017 ,349,412 38,138 1,387.550 5.357.015 86.321 1.324,533 5,443,336 Included in donations paid are grants made lo the following inslilutions: LPW Limited JNF Charitable Trust Chasdei Dov Tru51 Lehachzikom UK Vishnitz Girls School Limited North London Welfare Shwei Orah Th¢ Rehabilitation Trusi Yesamaeh L¢vav Achisomoch Aid Company Community Concern London Less than £30,000 206.401 200,000 86,000 73,000 72,000 58.000 50,000 so.000 48,000 42,860 32,500 405.772 TotAI 1.324.533 AnAlysL4 of Grants to Instltlltlons: Advancement of the Jewish Reli8ion Advancement of Education Relief of Poverty Orants lo other grant making charities Other general charilable purpos Total 358.891 159.330 94.610 144,460 567,242 1,324,533 10. ANALYSIS OF SUPPORT COSTS Donations paid Total 2023 Toial 2022 General office Govemance costs 24,879 38,138 63,017 24,879 38.138 72,322 86,321 158,643 63.017 -20-
rJcusn En¥elope ID.. 69AE82BF-9B3E3F-BF8)2G9EC1A3aD2 CHALFORDS LIMITED COMPANY LIMITED B Y GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (c•1¢d} YEAR ENDED 31 DECEMBER 2023 11. NET GAINS ON INVESTMENTS Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Gainsl{losses) on of investment property Gains/{losses) on investments in group undertakings Gainsl(losses) on other investm¢ni sgets 1,250.000 1,250.(K)O (2,449) (2.449) (294) (294) 39.180 39.180 36,731 (33,816) ,215,890 (33.816) 1,215.890 36,731 12. NET INCOMEI(EXPENDITURE) Nel in¢omel(expenditur¢) 15 Stated after Chargin{Crediting), 2023 2022 Depreciation of tangible fixed assets Fees payable for the audit of the financial &teMentS 5.515 29,200 7.353 26.766 13. TRUSTEE REMUNERA TION AND EXPENSES The charily has no stsff other Ihart the trustees all of whom give freely of their time and ¢xpertise without any fomi of remuner81ion or other benefit in cash or kind (2022.. £nil). The charity did nol meet any expenses incurred by the trustees for service5 provided lo th¢ charity (2022.. £nil). 14. TANGIBLE FIXED ASSETS Fixtures and ritiin8S Equipment Totsl Cost At l January 2023 and 31 December 2023 D¢preclation At l January 2023 Charge for the year At 31 Deeember 2023 305.817 25,(K)9 330,826 284,702 5,279 289,981 24,065 236 308,767 5.515 314,282 24,301 Carrylng amount At 31 December 2023 15.836 21,115 708 16.544 At 31 December 2022 944 22,059 -21-
tkXugn Envelopo ID.. 89AE82BF4B3(k4E3F-8F8tkD2C9EC1A3802 CHALF0PI&LI[TE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 I& INVESTMENTS Shares in Investment group Other properties undertskings investments Total Cost or VAluation At l January 2023 Additions Fair value movements 74.392.301 466.620 2,536 4.841.348 79.236.185 466,620 (6.377) (8,826) 4,834.971 79,693,979 (2,449) 87 At 31 December 2023 74.858.921 Carrying amount At 31 December 2023 74,858,921 74,392,301 87 4.834,971 79,693.979 2.536 4,841.348 79,236,185 At 31 De¢ember 2022 All invesknents shown above are held at valuation. Investment propertles The investments are slated at the irustee's valuation at 31 December2023. Professiona] valuations of most of the company's properties were carried out by Fisher Geman, independent Rtcs registered surveyors. in July 2024. In considering open mark¢t values of these properties. the truslces have had regBJd lo the market conditions prevailing at the balance she¢1 dale and other related mallers such rental yields, status o( the tenants and location, type and tenure of each property and comparable market trsactions. The historical cost of th¢ Company's investment properties At 31 Decemb¢r 2023 is £31,285.038 (2022.. £29,876,458). The fair value at 31 December 2023 of the investment in the subsidiary undertakin8 is based on the underlying value of its &55ets less 115 liabilities. The company owns IOOO/o of a subsidiary undertaking, Newray (London) Limited, a company incorporated in England and W&les. Newray (London) reported net expenditure of £2.449 and net &%sets of £86 for Ihe year ended 31 December 2023. The resulis of Newray {London) Limited have not been consolidated into the acwunls of Chalfords Limited as they are deemed to be immaterial. The company owns IOOVO of a subgidiary undertaking. Chan¢ery MK9 Limited. a Company inc()rporated in Englgnd and Wale5. Ay ai 31 December 2023 Chancery MK9 Limited was dormant and had £1 share capital. The results of Chancery MK9 Limited have not been consolidated into the accounts of Chalfords Limited as they are deem¢d to b¢ immateria]. 22-
DtyyJ&lgn En¥ebpe ID.. 69AE828F-9B3O4E3F4F8D-D2C9EC1A38D2 CHALFORDS LIMED COMPANY LIMITED B Y GUAIL4NTEE P40TES TO THE FINANCIAL STATEMENTS f¢ortth¥¢ YEAR ENDED 31 DECEMBER 2023 16. DEBTOILS 2023 2022 Trade debtor3 Amounts owed by group undertakings Prepayments and accrued inwme her debtors 377,054 3,100 46,138 967,873 363,597 26,925 1.042,571 1.433,093 1.394,165 17. INVESTMENTS 2023 2022 Unlisi¢d investments 1,058,844 1.058,844 1.066.715 1,066.715 Flnan¢l41 Assets beld at falr value Unlisted inveslments are valued at the trustee's valuation, b&5¢d on their nel assel Yalue. 18. CREDITORS: Amounts falllng due wltblrt one year 2023 2022 Trade creditors Accruals and defetTed income Other creditors 13,101 48.848 96.459 158,408 25,508 22,868 65,403 113,779 19. CREDITORS: amounts falling due after more than One yegr 2023 2022 Bank Ii)ans and overdrafis 18,450.000 18,750,000 The bank loans are secured over certain of the investment properties of the charity. 23-
OryJJBlgn Envelop¢ ID.. 69AE326F-99304E2F-BF8D-D2C9EC1A3802 ALFORDSLIMIT.K CO]hlPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (contrmrtdj YEAR ENDED 31 DECEMBER 2023 20. ANALYSIS OF CHARITABLE FUNDS Unr¢stri¢ted funds At Gains and 31 December losses 2023 At l January 2023 Income Expenditure General fvnds 62.919.037 4,238,446 (3,602.304) 36,731 63,591,910 Al Gains and 31 Dec¢mb¢r losses 2022 At l January 2022 Income Expenditure General funds 64,370,380 4,104.215 (6,771.448) 1,215,890 62,919,037 21. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unreslricted Totsl Funds Funds 2023 Tangible fixed &8sets Investments Current &8sets Creditors less than l year Creditors wealer ihan l year Net assets 16,544 16.544 79,693,979 79,693,979 2,489,795 2,489,795 (158,408) (158.408) (18,450.000) (18.450.000) 63,591,910 63,591,910 Unreslricted Total Funds Funds 2022 Tangible fixed assets Investments Current &8sets cditOrS less than l year Creditors greater than l year Net assets 22,059 22,059 79.236,186 79,236,186 2,524,571 2,524,571 (113,779) (113,779) {18.750.000) (18.750.000) 62,919,037 61919,037 22. FINANCIAL INSTRUMENTS The caryying amount for each category of financial instrument is as follows.. 2023 2022 Finaneigl Assets measured at f#lr value through income 8nd expendlture Financial &8sets me&4ured at fair value through income and expenditure 5,892,815 5,908,064 24-
DD¢U9n Envelcye ID.. 69AE82BF-9B304E3F-BF8D-D2CgEC1A36D2 CELFORDs LIMITED COMPANY LIMITED BY GUARANTEE NOTKS TO THE FINANCIAL STATEMENTS (e•fvilKw YEAR ENDED 31 DECEMBER 2023 22. FINANCIAL INSTRUMENTS {coMtlmMerf) 2023 2022 Financlfil assets tbat thre debt InstrumeDts measured at imorti8¢d ¢ost Financi assets that are debt instruments measured at amortised cost 1.399.12l 2.293,988 Flnancigl Ilabllltle9 measured at Amortlsed cost Finan¢ial liabilities measur¢d at amortis¢d cosi 18,608,071 18,860,717 23. ANALYSIS OF CHANGES IN NET DEBT At At l Jan 2023 Cash flows 31 Dee 2023 Cash al bank and in hand Debt due after one year Current ass¢t investments 24.763 (18.750.000) 1,066.715 (17.658.522) 12.023 36.786 300.000 (18,450.QOO) (7,871) 1,058.844 304.152 (17.354,370) 24. RELATED PARTIES There were no related party transactions during the yeAr that require disclosure. -25-