Charity reglstratlon number 290568
Company regi5tratlon number 01835501 (England and Wales)
GAMA TZEDAKA LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

GAMA TZEDAKA LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Govomors
MrPJay
MrDJay
MrlSJay
Charlty numl)èr
290568
Company number
01835501
PrlnGipal address
Foframe House, 2nd Floor
3547 Brent Street
London
NW4 2EF
Registered offlcg
Foframe House. 2nd Floor
3&37 Brant Str8at
London
NW4 2EF
Audltor
Lopian Gross Bamett & Co
1 st FIoDr Cldster House
Riverside. New Bail&y Street
Manchester
M3 5FS

GAMA TZEDAKA LIMITED
CONTENTS
Page
Gov8mors' report
Statement of governtys, responsibi1itSes
Independent audllorfs report
ststement of financial activities
Balance sheet
9-10
Statemerrt of cash )lows
11
Notes to the finanaal statements
12-19

GAMA TZEDAKA LIMITED
GOVERNORS, REPORT (INCLUDING DIRECTORS. REPORT)
FOR.THE YEAR ENDED 31 DECEMBER 2021
The governors present their annual report and financial statements for the year ended 31 December 2021.
The financial statements have been prepared in accordance With the accounting policies set out in note I lo the
financial statements and comply with the company's Igoverning d￿UMentI, the C(ympanies Act 2006 and
'Accounb"ng and Reporting by Charities: Statement of Recommended Practice applicable to charitses preparing
their accounts in accordance with the Financlal Reportlng Standard appllcable in the UK and Republic of Ireland
IFRS 102)" leffeclive 1 January 20191.
Objectives and activities
The charity's obje¢ts are lo distribute funds lo religious, educational and simtlar tharilies for the advancement of
religion in accordance with the Orth¢)dox Jewish f31th and the relief of poverty and other charitable purposes for
the public benefit. The gims of the charity in accordance with these objectives are lo help with the funding of
charities which advance the Orthodox Jewish faith and lo help alleviate povèrty. The policies adopted In
furtherance of these objects are lo identify Orthodox Jewish charities which cary out activities such as ptoviding
Orthodox Jewish edu¢alion and other acllvilles which advance religion in accordance wlh the Orthodox Jewsh
faith or which relieve poverty and there has been no change in these during the year. The govemors confim that
they have had regard to guidance Contained in the Ch8rity Commission gènèral guidan￿ on public benefit when
reviewing the tharity's aims and objectives and in planning future activities and setting the grant making policy
for the year.
The charity's income is generated from investment income and the available income was distributed in the year,
or otherwise paid to a similar charity to this one.
The m8in Strategy for the above aims and objecb'ves is to maintain a stable fksw of donations going to worthy
(xuses in the J￿1$h communty. The governors also aim to expand the charitls investment portfolio whenever
the opportunity arises. No particular critèria or measurts are used to asse55 success in a¢hievlng these alms or
obJ"ectives.
The only acliwb"e5 undertaken have been monitoring the charity's investment income and making distributions to
a numb8r of charities in accordance with the above objectives and policies.
Achlèvèmènts #nd perfornianc8
The charity has continued lo distribute funds lo other charities during the year. All of the available incoming
resources, after the charity mel ils loan payment obligations, were distributed benefitting th8 recipient
organisations accordingly, or else paid lo a charity wrth the $8me govemors, obie¢ts and purpose as this one.
Any remaining cash reserves available will be Put towards future investment purposes. The charity's investm8nt
Properties generated net cash retums in line with expeclafjons. The charity dlslributed or otherwise paid to
another similar charity the maximum available.
At the year end the charity held UK properiles as investments which were valuèd at £5.900,000 and
gen&ratèd gross rentsl incom8 of £434,462.

GAMA TZEDAKA LIMITED
GOVERNORS, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Flnancial review
Thè charitys funds ftsr distribution derived from property investrnent income from Its own proporty. The total of
nel incoming resources was £434.462 which resulted in a surplus of £103.453 after charitable donations of
£152,500 and other charitable expenses of £178,509. The charity gifted one of ils properbes lo a connected
charity resulting in a loss of £2,438,575. The financial position of the charity at the end of the year is set out on
page 9, wlh closing funds of £3.115,213.
No significant ever)t affected the financial perforniance and financial position or the charity during th8 year. Nor
have any been identified that are likely lo do so currently or in the future.
Th8 governors have identified the prinapal risks and uncertainties facing the charity and have also adopted plans
and strategies to fllanage these as follows=
decline in values of investmant properties, managed by investing in good quality buildings with reliable
tenants as confirmed by the independent valuations obtained on purchase and by own regular monrtoring
f811 In Incorne.. letting only to reliable tenants as above-, maintaining informal reserves In the charfty., havlng
funds availabse lo the govemoT5 to lend to the charity if Teguired.
The￿ is no formal policy to maintain a set level of reserves. The governors are continually looking for appropriate
investments which will ensure that high18vel of returns can be achieved for the th8ritYs benèfit.
The govemors, investment powers are governed by the charivs Articles of Association which permit the
govemors to invest the Charity'5 funds as they m3y see fft.
The governors are experienced property investors and have invested the oharity's funds in property in order lo
generate funds for distribution. Investments are chosen on the basis of achieving a yield in exce55 of Ihat
available from tash deposits while maintaining security of income.
The governors have assessed the major Tisks to which the charity is exposed, and are satisfied that systems are
in place to mitigate exposure lo the major risks.
The governors wlll ujntinue lo purchase further investments when they believe it is in the best Interests of the
charity.
Stru¢tur¢, governance and management
The charity is limited by guaranlèe. It was incorporated on 24 ju￿ 1984 and r￿lStered as a tharity on the same
date. The charity was established under a Memorandum of As50ciation whith eslablishgd the objects and
powers of the charitable company and is govemed under its Articles of Asso¢iation.
The governors, ￿0 are also the directtsrs for the purpose of company law. and who servèd during the year and
up lo the d81e of slgnalLsre of the financial statements were..
MrPJay
MrDJay
MrlSJay
Govemors are recommended and appointad by the Board of Govemors.
None of the govemors has any beneficial interest in the oharity. All of the governors are members of the charity
and guarantee to contribute an amount not exceeding £1 in the event DI a winding up.
The board of govemors administ8rs the charity who retsin wmplete r8sponsibility for its management.
Auditor
In ac¢ordan¢e with the companys articles, a resolution proposing that Lopian Gross Barnett & Co be reappolnled
as auditor of the rompany will be put at a General Meeting.

GAMA TZEDAKA LIMITED
GOVERNORS. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Dlsc105ure of Inforniation to audbtor
Each of the gov8rnors has confirnied that there is no information of which they are aware which is relevant to the
audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps lo
identify suth relevant infornialion and to establish that the auditor is aware of such information.
gov&rnor
eport was approved by the Board of Govemors.
Governo
032

GAMA TZEDAKA LIMITED
STATEMENT OF GOVERNORS. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2021
The govemors, who are also the dirertors of Gama Tzedaka Limited for the purpose of company law, are
responsible for preparing the Govemors, Report and the financial statements in accordance wrth applicable law 3nd
United Kingdom Accounting Stsndards (United Kingdom Generally A￿epted Accounting Practice).
Company Law requires the govemors lo prepare flnancial statements for each financial year which give a true and
fair view of the stale of affairs of the company and of the incoming resources and application of resources. including
the income and expendilure, of the charitsble company for that year.
In preparing these financial statements, thè govèmors are required to..
select suilabfe accounting policies and then apply them consistenlly..
- observe the methods and prineipl&s in the Charities SORP.,
makg judgemen15 and estimates that are reasonable and prudent..
stste whether 8pplicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the financial statements-. and
prepare the financial ststements on the going concem basis unlfrss It is inappropriate to presume that the
company will continue in operation.
The govemors are responsible for k8eping adequate accounting records thal disclose wrth ￿asOnable accuracy at
any tirne the financial position of the company and enable them to ensure that ihe financial statements comply with
the Companies Act 2006. They are also responsib18 for safeguarding the assets of the cornpany and hence for
tsking reasonable steps for the p￿ventIOn and detection ol traud and other irregularities.

GAMAfzEDAKA LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE GOVERNORS OF GAMA TZEDAKA LIMITED
Oplnion
Vve have audited the financAal ststements of Gama Tzedaka Limit8d Ithe 'sompanl} for the year ended 31
December 2021 which comprise the statement of financial actwilies, the balance sheet, the ststement of cash flows
and the notes to the financial statements, including significant 8ccounting policiès. The fin8nc4al reporting framework
thal has been applied in their preparation is applicable 18w and United Kingdown Accounting Standards, including
FRS 102 The Finan￿al Reporting Standanl applicable in the UK and Republ￿ of Ireland.
In our opinion, the financAal statements..
giv& a true and fair view of th8 Stale of the Gharitable companls affairs as at 31 Dec8mber 2021 and of
incoming resources and application of resoLtrces, for the year then ended,.
have be8n propgrly prepared in accordancè United Klngdom Generally Accepted Accounting Practice..
and
have been prepargd in accclrdance with the r9quI￿ments of the Compani8s Act 2006.
Basis for oplnlon
We conducted our audit in accordance with Intemational Stsndards on Auditing (UK) IISAS IUKII and appllcable
law. Our responsibilities under those stsndards are further described in the Auditor's r8sponsibility8s for the audit of
thè fin8nci81 statements section of our report. We are independenl of the company in accordance with thè èthical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other @thical r85ponsibililies in accordance with these requirements. We believe
that the audit eviden￿ we have obtained is sufficient and appropriate to provide a basis for our opinion.
Concluslons relatlng to golng concern
In auditing the financial stslements, we have concluded that the govemors. use of the going concem basis of
a¢￿U￿tIng in the preparation of the financlal statsmenls is appropriate.
Based on the work w8 have performed, we have not identtfied any materi81 uncertainties relating lo events or
conditions that. individually or collectively. may cast significant doubl on the company's ability to continue as a going
concern for a period of at least Nvglve months from when the financial statements arg authorised for issue.
Our responsibi16fjes and the responsibilities of the governors with respect to going concem are describ8d in the
relevant sections of this report.
Other Information
The other infomiatr'on comprises the infomiatK)n inGluded in the annual report olher than the financial statements
and our auditorfs report thereDn. The governors are responsible for the other infomiaton contained within the
annual report. OLJr opinion on the financial statements does not cover the other information and we do not express
any form of assurance conclusion thereon. Our responsibility is to read the other informats.on and. in doing so,
consider whether the other information is materially inconsistent with the flnanclal statements or our kno￿edge
obtained in the ¢ours8 of the audit, or otherwise appears lo be materially misstated. If we identify such material
inconsistena8s or apparent material misslalemènts, wp are required lo determine whether this gives rise lo a
rnaterial misstslement Sn the financial statements themselves. If, based on the work we have perfomied, we
conclude that there is a material misstatement of this other infomatlon, we are required lo report that fact.
We have nothing to report in this regard.
Matters on whlch we are requI￿d to rep¢rt by exception
We have nothing to report in respect Df th8 following matter5 in relation lo which the Chartlies (Accounts and
Reports) Regulations 2008 require us to report to you rf, in our opinion..
the infomation given in the financial statements is inconsislenl in any material respect with the govemors,
report., or
sufficient accounting records havg not been kept,. or
the financial stat8ments are not in agreement with the aco)unting records.. or
we have not received all the infomalion and explanations we require for our audit.

GAMA TZEDAKA LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE GOVERNORS OF GAMA TZEDAKA LIMITED
ResponsibSlltlès of governors
As explained more lully in the statement of governors. responslbllllles, the govemors, who are also the directors of
the company for thè purpose of company law, are respDnsible for the preparation of the finanaal statements and for
being satisfied that they give a true and fair view, and for such inlemal control as the governors determine is
necessary to enable thè preparation of financial statements that are free from material misstatement. whether due
to fraud or error. In preparing the financial statements. the govemors are responsible for assessing the company's
ability lo continue as a going concem, disclosing, as applicable, matter5 related lo going concern and using the
going concern basis of accounting unless the gDvemors either intend lo liquidate the charitable company or to
cease operations, or have no realistic allemative but to do so.
Auditor's rèsponslbllltles for the audlt of the finaneial statements
We hav? been aprK>inted as auditor under section 144 of the Charitie5 Act 2011 and report in accordance with the
Act and ml8vant règulations madÈ or having èffect thereunder.
Our objecbves are lo obt8in reasonable assurance abokjt whether the financial statements as 8 whole are fr99 from
rnalerial misslalemenl, whether due lo fraud or error, and to issue an auditorfs report that includes Dur opiniorb.
Reasonablè assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
wth ISAS IUKI will always detect a material misstatement when it exists. Misstslements can arise from fraud or
error and are considered rnaterial if, indiwdually or in the aggregate, they could reasonably be expected lo influen
the economic decisions of users taken on the basls of these finantial stslements.
I￿gularitieS. including fraud. are instances of non-compliance with laws and regiJl8tions. We design procedures In
line with our responsibilities. outlined above, to detect material misststements in respect of irregularities, including
fraud. The extent to which our procedures are capab18 of dètecbng irregularities. including fraud, is detsiled below.
We Dbtained an understanding of laws and regulats'ons that affect the entity. focusing on those ihat had a direct
effect on the finanaal statements or that had a fundamental effect on operations.
Where considered necessary we enquired of thos8 charg8d with gov8mance, reviewed correspondence and
reviewed meeting minutes for evidenee of non-compliance with relevant laws and regulations.
We gained an understanding of the controls environment which includes the controls in place to prevent and
detect fraud. We enquired of those ¢harged with goveTnance about any incidence5 of fraud that had taken place
during the accounbng period.
The risk of fraud and non-compliance with laws and regulations was discussed within the audit team and tests
were planned 8n(J performed to add￿5$ these rSsks.
We revlewed finandal slalements disclosures to assess compliance with relevant laws and regulations.
We enqulred of those charged with govemance about actual and potential litigation and claims.
We perfornied analybcal procedures lo identify any unusual or unexpected relationships th81 might in¢Jicate
rtsks of material misstatement due to fraud.
In addressing the rfsk of fraud due to management overridg of internal controls we tested the approprialgness
of journal entries and assessed whether the judgemenls made in rnaking accounting estimates were indicative
of a potèntial bias.
Due to the inhèr8nt limit8tions of an audit, there is an unavoidable risk that we may nol hav& delected som8
material misstatemfrnts in the fin3nGial statements, even though we have properly planned and perfomied our audit
in accordance with auditin9 stsndards. For example. as with any audit, there remained a higher risk of non4etection
of irregularities, as these may involve ¢ollusion, forgery, intentional omissions. misrepr8sentètions. or the ov8rride of
internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and
cannot be expected to detect all fraud and non-compliance with laws and regulations.

GAMA TZEDAKA LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE GOVERNORS OF GAMA TZEDAKA LIMITED
A lurther description of our responsibilities is available on the Finanaal Reporting Council's website at- https'.11
Www.frc.org.u￿aUd7toTsresPDnsibIlltie5. This description fL)rms part of our auditor'5 report.
Uso of our report
Thls report is rnade solely to the charity's trustees, as a body. in accordance wth part 4 of th8 Charities (Accounts
and Reports) Regulations 2008. OUT audit work has been undertaken so that we rnight state to the charitys Irustees
those matters we are required lo state lo them in an auditorfs report and for no other purpose. To the fullest extent
pembtted by law, we do not accept or assume responsibility to anyone other than Ihe tharity and the charity's
Irusl8es as a body, for our audit work, ft)r this report. or for the opinions we have fomed.
Jonathan Brodi• FCA158nior Statutory Auditor)
for and on b•half of Loplan Gross Barnett & Co
1410912022
Chartered Accountants
statutory Audltor
1st Floor Cloister House
Riverside. New Bailey st￿et
Mand)ester
M3 5FS
Lopian Gross Barnett & Co is eligible for apwintment as auditor of the company by virtue of Its eligibility for
apw)intmenl as audttor of a ￿T￿panY und8r section 1212 of the Companies Act 2006.

GAMA TZEDAKA LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2021
2021
2020
Notes
Incomè from=
Investments
434,462
511,222
Ex
onditur# on:
Charitable ath"vits"es
2,591,075
236,454
Other
178,509
235,492
Total resources expended
2.769.584
471,946
Net {outgoingVincomlng rgsourcos
{2.335,1221
39,276
other recognised gains and losses
Revaluation of property investments
1,200,000
940.WO
N?t movement in funds
11,135,122
979.276
Fund balances at 1 January 2021
4.250.335 3.271,059
Fund balances at 31 D•cèmbèr 2021
3.115.213 4.25D,335
Th8 Statemènt of financial activ((ies include5 all gains and losses recognised in the year.
All incom8 and gxpenditure derive from continuing actiwties.
The statement of financial activities also complies with the requirements for an income and expenditure account
under the Companies Act 2006.

GAMA TZEDAKA LIMITED
BALANCE SHEET
ASAT31 DECEMBER 2021
2021
2020
Notes
Flxed assets
Investment properties
Investments
5,900,000
7,640,000
ID
5,900,001
7,640,001
Current a55ets
Debtors
Cash at bank and in hand
11
89.991
62,873
84,918
109,885
152.864
194.803
Creditors.. amounts falling du• within
one year
13
1660,7841
11.172,3461
Net wrrgnt liabilities
1507,920)
1977,5431
Total ass•ts ￿$S currènt Ilabllitl
5.392,081
6.662.458
Cr•dltors: amounts falllng du• •fter
mDrn than or78 yèar
14
12,276,868)
12,412,123}
Net assets
3,115.213
4.250.335
Incomè funds
Unrestricted funds
General unrestriGted fund5
Revaluation reserye
1.391,063
1,724,150
1,881,185
2.369,150
3,115.213
4,250,33S
3.115.213
4.250.335

GAMA TZEDAKA LIMITED
BALANCE SHEET (CONTINUED)
ASAT31 DECEMBER 2021
The company is entitled to the exemption from the audit requirement ¢ontsingd in section 477 of the Companitrs Act
2006. for the year onded 31 December 2021, although an audit has bèan carried out under section 144 of the
Charities Act 2011.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
wfch respect to accounting records and the preparation of financial slalements.
These financial statgments havè baén prepared in accordance with the provisions applIca￿e to companies subject
to Ihe small companies regime.
The financial statem8nts were approved by the Govemors on .......-.................
ay
vernor
Company Reglstrat5on No. 01835501
10

GAMA TZEDAKA LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2021
2021
2020
Notes
Cash flows from operating actlvltlgs
Cash generated fromllabsoTbed by)
operations
18
156.5S4
{301.073)
Investlng actlvltles
Rental income re￿iVed
434,462
511.222
Mot ¢a$h gonoratod from Invgstlng
activltles
434,462
511.222
Flnanclng actlvltles
Rèpayment ol bank loans
1636,3801
1125.330)
Not cash In flnanclng a¢tlYltl•s
1636,3801
(125,33D)
Net IdecreaseJfincrea$e in cash and cash
èqulval•nts
145.3641
84,819
Cash cash equivalents at beginning of year
81,073
13.7461
Cash and ca$h equivalents at end of y¢ar
35,709
81,073
Rolatlng to:
Cash at bank and in hand
Bank overdrafts induded in creditors
payable within one year
62,873
109,885
127.1641
128,8121

GAMA TZEDAKA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accounting poll¢les
eharlty Information
Gama Tzedaka Lin7iled Is a private company limited by gu8ranlee incorporated in England and Wales. The
registered office 15 Foframe House. 2nd FlrK)r. 35-37 Brent Street, London. NW4 2EF.
1.1 Accounting convention
The financial statements have been prepared in a¢¢ordance wfth the Companles Act 2006 and 'Accounts'ng
and Reporting by Charities. Statement of Recommended Practice applicable lo charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 1021" las amended for accounting periods commenGing from 1 January 20191. The company is a Public
Beneff( Entity as defined by FRS 102.
The financial statements are Pfepar8d in sterling, which is the functional currency of the company. Monetary
amounts in these financial 5tstemenls are rounded to the nearest £.
The financial stateTnents have been prepa￿d under the historical cost convention, Imodified to include the
Tevaluation of freehold properbes and to in¢lude investmont properties and certain financial instrurnents at fair
valuel. The prin¢ipal a¢counling policies adopted ara sèt out below.
1.2 Golng concern
At the lime of approwng the financial statements, thg govemors havo a rea50n8b18 expectation that the
company h8s adequate resourcès to witinue in operational existence for the forEseeable future. Thus the
govemors continue lo adopt the gDing COn￿M b89is of accounts.ng in preparing the financial statements.
1.3 Charitsble funds
Unrestricted ftjnds are available for use at the discrets.on of the governors in furtherance of their chafitable
objectives.
Funds held by the charity are all unrestricted. These being funds which can used in accordance with the
charitablo objects al the discretion of the govemoTS.
1.4 Incomlng r8sourc¢s
Income is recognised when thè company is legally entitled lo it aftèr any perforinanc8 conditions have been
met, the amounts can be measured reliably. and il is probab￿ that income will be received.
Cash donations are recognised on rèceipt. Other donation8 are recognised once the company has been
notffied of the d¢Mation, unless performance conditions require deferral of the amount. Income tax
recoverable in rolatron to donations recoived under Gift Aid or deeds of covenant is re￿gniSed at the time of
the donalion.
Legacies are recognised on receipt (* otherwise if the company has been notified of an impending
distribubon. the amount is known, and r8C8iPt 18 expected. If the amunl is not known, the legacy is treated as
contingènt asset.
Investment income represen15 amounts receivable for rents and services. Inveslmenl income is recognised
on the ComMen￿Ment of and in accordance wilh a lease. adjusted for any incentives as required under
FRS102. A I￿opertY is règarded as sold when significant risks and retums have been transferred to the buyer.
For conditional exchanges. sales are recognised as the wnditions are satisfied.
12-

GAMA TZEDAKA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Accountlng pollcles
IContlnu•d}
1.5 Re$our¢e$ expended
Expenditure is recognised once there is a legal or conslruGb've obligation to transfer economic benefit to a
third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of
the obligation can be measured reliably.
Expenditure is classrfied by activity. The costs of each actlvity are made up of the 10181 of dired costs and
shared costs, including support costs involved in undertaking èach activity. Direct costs attributable lo a 5ingl6
adivty are allocated direclly to that activity. Shared costs which contribute to more than one activity and
support costs which are not attributable lo a single activity are apportlDned between those activities on a basis
consistent with the use of resources. Central stsff costs are allocated on th8 basis of lime spenl. and
depreciation charges are allocated on the portion of the asset's use.
Expenditure is recognised on an accruals basls as a Ilabilily is incurred.
Charitable expendrture comprises thosè costs incurred by the charity in the dèlivery of its activities and
seNices for its benef5darles. 11 includes both costs that can be allocated directly to such activities and those
costs of an indire¢l nature necessary to support them.
Other costs indude all costs involmng the public accountability of the charity 8nd its compliance
regulation and good praC￿ce. These include costs rdaling lo siatutory audit and professional fees.
Grants payable represent donations paid to religious, educational and similar charities. and are recognised
when payment is m8de by the charity.
1.6 Tangible fixed a55ets
Tangible fixed assets are initially measured al cost and subsequently measvred at cost or valu8tion, net of
depreciation and any impaimient losses.
Tangible fixed assets are ststed al cost less depreuation. Depreciation is provided al rates calculated to write
off the cost less estimated rasidual value of each asset over its expected useful life, as follows=
Fixtures, fittings & equipment
33.33°A straight line
The gain or loss arising on the disposal of an asset is detem)ined as the difference belween the sale
proceeds and the caryng value of the asset. and is recognised in the ststement of financial activities.
1.7 Investment propertles
Investment property, which is propety held to eam ￿ntalS andlor for capttal appreciation, is initial
Tecognised al cost. which includes the purchase cost and any directly attributsble expanditure. Subsequently
it is rneasured at fair value al the reporting end d81e. The surplus or deficit on revaluation is recognised in the
statement of financial activities.
1.8 Fixed asset investments
A subsidiary is an entity ¢onlrolled by the charity. Control is the power to govem the financial and op8ratt.ng
policies of the entity so as to obtain benefits from its activithes.
1.9 Cash and cash equivalents
Cash anol cash equivalents include cash in hand. deposits held at call with banks, other short-tem liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowngs in currènt liabilities.
13-

GAMA TZEDAKA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Accountlng policies
IContlnued}
1.10 Flnanclal Instruments
The company has elected to apply the provisions of Section 11 'Basic Finanaal Instruments, and Section 12
'Other Financial Instruments Is5ue5' of FRS 102 to all of ils financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes paty to
the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amount5 presented in the fin8nclal statements, when
there is a legally enfo￿able right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultsneousty.
Bas1¢ flnan¢lal assets
Basic financial assets, which include debtors and cash and bank balances. are initially measured at
transaction price including Irarisa¢tion costs and are subsequently carried at amortised cosl using the
effective interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value Df the future receipts discounted at a market rate of interèst. Financial assets
classified as receivable within one year are not amortiS8d.
8asl¢ flnan¢lal Ilabllltles
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement constilules a financing transaction, where the debt instnjment Is measured at the present
value of the future payments discounled at a market rate of interest. Financial liabilities classified as payable
within on& yèar are not amDrtised.
Debt instruments are subsequently carried at amorbs8d cost. using the eff9¢tive interest rale rnethod.
D•rncognition of Ainancial liabilities
Financial liabilities are der8cognis8d when the companls cOntrac￿al obligations expire OT are discharged c*
can¢&lled.
1.11 Group accounts
The financial statements present information about the tharity as an indiviual undertaking and not about its
group. The charity and its subsidiary underta￿ngS comprise a small group. The charity ha5 therefore taken
advantage of Ihe exemptions provided by seclions 399 of the Compani85 Act 2006 not to prepare group
accounts.
Crfllcal a¢¢ountlng estlmates and judgements
In the application of the company's accounting policies, the governors are required lo make judgements.
estimates and assumptions about th8 carrying amount of assets 8nd liabilities that arè not readily apparent
from other sources. The estimates and assoaated assumptions are based on historical experience ar)d other
factors that are considtrred lo be relevant. Actual results may differ from these estimates.
The e5tlrnales and undedying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in th8 p8riod in which the estimatè is revised where th8 revision affects only that
period, or in the peri￿ of the revision and future periods where the revision affeGts both cyrrenl and future
periods.
14-

GAMA TZEDAKA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Investments
2021
2020
Rentsl income
434,462
511,222
Grants payable
Charltsble
aetlvltiès
2021
Charitable
activities
2020
Grants to insbtutions18 grants)..
l)ther
2,591,075
236,454
Included in the above were tharitable donations of £152,5￿ made to Achisomoch Aid Co Ltd {Reg- charity
no. 2783871 for religious èducation and the relief of hardship and poverty and the gfft of a property. known as
Units 8 & 9 Willow Centre, to another charity wsth the same govemors as this charity.
Govgmors
None of the governors lor any persons connectsd with Iheml r8ceived any remuneration or expanses during
the year.
Employo•s
The average monthly number of ernployees during the year was-.
2021
Number
2020
Number
Total
There were no employees whose annual remuneration was more than £60.000.
Oth•r
2021
2020
Audit¢ys' remuneration
Auditors. fees for non-audtt work
Interest on bank loans
Other expenditure
3,600
1.800
110.897
62,212
3,240
5,280
110,777
116,195
178,509
235,492

GAMA TZEDAKA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Oth•r
Icontlnuedl
Taxation
The activities of Gama Tzedaka Limited are exempt from direct tsxation under Part 11 of the Corporation Tax
Act 201D.
Investment property
2021
Fair value
Al 1 January 2021
Net gains or losses Ihrough fair value adjustments
Other thanges
7,640,000
1.200,000
{2.940.0001
At 31 De￿rnber 2021
5.90Q.000
The fair value of the investment propety has been arrived at on the basis of a valuation carried out by a
govèmor of the ￿mpanY. The valuation was made on an open market value basis.
Other changes f8presenl the transf8r of'units 8 & 9 Willow C8ntre' lo a connected charity 'Shirehall Tzedaka
Company Limited, as a glft.
The propertles are secured against the bank loans lo the charity.
10 Flxod ass•t Investment$
Unlisted
Investments
Cost or valuatlon
At 1 January 2021 & 31 December 2021
Carrying amount
At 31 December 2021
Al 31 December 2020
Flxed ass•t inYÈslments not carrl•d at market value
The above investment is shown at cost.
The charity owns the whole of the issued ordinary share capitsl of Southern Cross Propco 1 Limited. Southem
Cross Propco 1 Limil8d owns lo0.￿ of the issued ordinary share capital of St Oswalds House Limited. St
Oswalds House Limited owns 10090 of the issued share capital Df Ashlands Limited. All the companies were
dorniant throughout the year.
16

GAMA TZEDAKA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
11
Dehtors
2021
2020
Amounts falling due wlthln on• y?ar.'
Amounts owed by subsidiary undertakings
Other debtors
Prepayments and accrued In￿Me
1.177
40.671
48,143
1.177
83.741
89,991
84,918
12 Loans and ov•rdrafts
2021
2020
Bank overdrafts
Bank loans
27,164
2,412,123
28,812
3.048,503
2,439.287
3,077.315
Payable wK(hin one year
Payable aftar on8 y8ar
162,419
2,276,868
665,192
2.412,123
Amounts included above which fall due after five years..
Payable by instalments
Payabl@ oth8r than by instalments
221,011
1,610,000
1.831,011
The bng-tem) loans a￿ secured on property investments.
13 Credltors: amounts falllng due wlthln one year
2021
2020
Notes
Bank loans and overdrafts
Amounts owed to Subsidiary undertakings
Other creditors
Accrua15 and deferred income
12
162,419
1.442
456.082
40.841
665.192
1,442
312,213
193.499
660,784
1,172,346
Included In other creditors is an amount of £197.723 12020 .' £59.6691 due to companies under common
control with thls one, and £217.244 12020 .' £208,745) due to another charity with the same govemors,
0￿.0¢ts and purpose as this one. These loans are interest free and are rèpayable on demand.
17-

GAMA TZEDAKA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
14 Credltor8.' amounts falllng due after more than one year
2021
2020
Mote$
Bank loans
12
2,276,868
2,412,123
15 Covld-19
The Trustees have ck)sely monitored the Government guidance in response lo the Covid-19 Pandemlc and
have implemented measures in line Governmental guidelines. The Trustees have a55essed the impact of
Covid-19 on the company and conclud8 that th8r8 ar8 no ilèms r8sulting from the Covid-19 Pandemic which
require disclosure at the balance sheet date.
16 Relat9d party tran$a¢tl¢)ns
Transactions wlth related partieg
During the year the company entered into the following transactions with related partie5'.
The following amounts were oulstsnding at the reporting end date..
Amounts owèd to rolated
partlas
2021
2020
Other relaled parties
456.082
268.414
Included in the above is £217.244 dufr to anothgr ¢harity with the same govemors, objects and purpose a5
this one.
During the year the charity transfe*Ted a propety. known as Units 8 & 9 Willow Centre. to another charity with
the same govemors as this charity.
There were no other related party transactions during the year which Tequire disclosure.
17 Subsldlaries
Details of the company's subsidiaries at 31 Decgmber 2021 are as follows..
Nam• of undortaklng
Registered
offl¢•
Nature of bu5ine55
Class of
shar•s h•ld
% Held
Dir•ct Indirect
Ashlands Limited
England and
Wales
Southern Cross Propco 1
England and
Limited
Wales
St Oswalds House Llmrted England and
Wales
Dormant
Ordinary
100
Dormant
Ordinary
100
Dormant
Ordinary
100
18-

GAMA TZEDAKA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
17 Subsldlarles
(Continued)
The aggregate capitsl and reserves and the result for the year of subsidiaries excluded from CDnsolidation
wa5 as follows:
Name of undertaking
ProfiVILossl Capital and
ResÈnJès
Ashlands Limited
Southem Cross Prop¢0 1
Limited
St oswalds Hous8 Limit9d
1,002
8,986
277,100
18 Cash generated from opÈratlons
2021
2020
(Deficitysurpus for the year
{2,335,1221
39.276
Adjustments for..
Investment income recognised in statement of financial activities
Loss on disposal of tangible fixed assets
{434,4621
2.940,000
{511,2221
Move￿ents in working capital-.
Ilncreasel in debtors
(Dacreasellincrease in creditors
15,0731
18,7891
117,057>
187,930
Cash generated fromllabsorbed by) op•ratSons
156.554
1301.073)
19 Analysis of changes In net Idebtllfunds
At l January
2D21
Cash flows At 31 Doc8mber
2021
Cash at bank and in hand
Bank ovèrdrafts
109,885
128,8121
147,0121
1.648
62,873
127,1641
81.073
145.3641
35,709
L08ns falling due within one year
Loans falling due after more than one year
1636,3801
12,412.1231
501.125
135,255
1135,2551
{2,276.868>
12,967.4301
591.016
12,376,414
19-