| Page | |||||
|---|---|---|---|---|---|
| Trustees' | annual report (incorporating | the director's report) | |||
| Independent auditor's |
report to the members | ||||
| Statement | offinancial | acfivities (including | income and expenditure | ||
| account) | 14 | ||||
| Statement | offinancial | position | 15 | ||
| Statement | ofcash flows | 16 | |||
| Notes to | the financial | statements | 17 |
| Reference | and administrative |
and administrative |
details | details | ||
|---|---|---|---|---|---|---|
| Registered | charity name | Wiseheights Limited |
||||
| Charity registration | number | 294229 | ||||
| Company | registration | number | 1939694 | |||
| Principal | office and registered | New Burlington | House | |||
| office | 1075Finchley Road | |||||
| London | ||||||
| NW11 OPU | ||||||
| The trustees | ||||||
| Mr A Klein | ||||||
| Mr 1Sternlicht | ||||||
| Mr GBerger | ||||||
| Auditor | Cohen Arnold | |||||
| Chartered accountants |
8c statutory | auditor | ||||
| New Burlington | House | |||||
| 1075Finchley Road | ||||||
| London | ||||||
| NW11 OPU | ||||||
| Bankers | Barclays Bank Pic | |||||
| Leicester | ||||||
| LE872BB | ||||||
| Solicitors | Hamlins LLP | |||||
| 273-287 Regent | Street | |||||
| London | ||||||
| WIB 2AD |
| xpectations using y are as follows: |
fin | ancial and non financial measures |
. The most significant KPI |
s used by the |
|---|---|---|---|---|
| 2021 | 2020 | |||
| Grants and donations | paid out | 2,696,300 | 8241 300 | |
| Net rental income | 1,024,919 | 670,700 | ||
| Dividend income | from listed investments | 2,347,400 | 2,928,200 | |
| Listed investments | at | fair value | 40,837,500 | 29,040,000 |
| 2021 | 2021 | 2020 | ||||
|---|---|---|---|---|---|---|
| Unrestricted | ||||||
| funds | Total funds | Total funds | ||||
| Note | g | |||||
| Income and endowments | ||||||
| Investment income |
5 | 3,432,507 | 3,432,507 | 3,668,200 | ||
| Total income | 3,432,507 | 3,432,507 | 3,668,200 | |||
| Expenditure | ||||||
| Expenditure on raising funds: Investment management |
costs | 6 | 197,021 | 197,021 | 237,614 | |
| Expenditure on charitable |
activities | 7,8 | 2,921,388 | 2,921,388 | 3,691,779 | |
| Total expenditure | 3,118,409 | 3,118,409 | 3,929,393 | |||
| Net income/(expenditure) | 314,098 | 314,098 | (261,193) | |||
| Other recognised gains Fair value movements |
and | losses | 11,797,500 | 11,797,500 | (3,993,000) | |
| Net movement in funds |
12,111,598 | 12,111,598 | (4,254,193) | |||
| Reconciliation offunds |
||||||
| Total funds brought forward |
39,297,369 | 39,297,369 | 43,551,562 | |||
| Total funds carried forward | 51,408,967 | 51,408,967 | 39,297,369 |
| Wiseheights Limited Company Limited by Guarantee Statement ofCash Flows |
||||
|---|---|---|---|---|
| Year ended 31March 2021 | ||||
| 2021 | 2020 | |||
| Cash flows from operating Net income/(expenditure) |
activities | 314,098 | (261,193) | |
| Adjustments for: Dividends, interest and rents from investments |
(3 432 507) | (3 668200) | ||
| Accrued income | (3,451) | (35,887) | ||
| Changes in: Trade and other debtors |
91,565 | 111,551 | ||
| Trade and other creditors | 38,000 | 10,000 | ||
| Cash generated from operations |
(2,992,295) | (3,843,729) | ||
| Net cash used in operating | activities | (2,992,295) | (3,843,729) | |
| Cash flows from investing | activities | |||
| Dividends, interest and rents from investments |
3,432,507 | 3,668,200 | ||
| Purchase oftangible assets | (28,664) | (401,193) | ||
| Net cash from investing activities |
3,403,843 | 3,267,007 | ||
| Cash flows from finandng | activities | |||
| Proceeds from borrowings | (140,482) | (122,279) | ||
| Net cash used in financing | activities | (140,482) | (122,279) | |
| Net increase/(decrease) in |
cash and cash equivalents | 271,066 | (699,001) | |
| Cash and cash equivalents | at beginning ofyear |
422,282 | 1,121,283 | |
| Cash and cash equivalents | at end ofyear | 693,348 | 422,282 |
| 5. | Investment income |
||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2021 | Funds | 2020 | ||||
| Gross rental income | 1,085,107 | 1,085,107 | 740,000 | 740,000 | |||
| Income from listed investments | 2,347,400 | 2,347,400 | 2,928,200 | 2,928,200 | |||
| 3,432,507 | 3,432,507 | 3,668,200 | 3,668,200 | ||||
| 6. | Investment management |
costs | |||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2021 | Funds | 2020 | ||||
| Property management costs Administration ofinvestments |
20,398 36 |
20,398 36 |
27,740 267 |
27,740 267 |
|||
| Rent collection | 33,385 | 33,385 | 30,788 | 30,788 | |||
| Property repairs and charges Mortgage Interest |
maintenance | 6,369 136,833 |
6,369 136,833 |
10,505 168,314 |
10,505 168,314 |
||
| 197,021 | 197,021 | 237,614 | 237,614 | ||||
| 7. | Expenditure on charitable |
activities | by fund type | ||||
| Unrestricted | Total Funds | Unresuicted | Total Funds | ||||
| Funds | 2021 | Funds | 2020 | ||||
| Charitable activities |
2,871,300 | 2,871,300 | 3,646,700 | 3,646,700 | |||
| Support costs | 50,088 | 50,088 | 45,079 | 45,079 | |||
| 2,921,388 | 2,921,388 | 3,691,779 | 3,691,779 |
| Activities | ||||||
|---|---|---|---|---|---|---|
| undertaken | Grant funding | Total funds | Total fund | |||
| directly | ofactivities | Support costs | 2021 | 2020 | ||
| 8 | 8 | |||||
| Charitable | acdvities | 175,000 | 2,696,300 | 2,871,300 | 3,646,700 | |
| Governance | costs | 50,088 | 50,088 | 45,079 | ||
| 175,000 | 2,696,300 | 50,088 | 2,921,388 | 3,691,779 |
| 9. | Analysis ofsupport | co | sts | ||||
|---|---|---|---|---|---|---|---|
| Support | |||||||
| costs | Total 2021 | Total 2020 | |||||
| General office | 1,934 | 1,934 | 1,684 | ||||
| Finance costs | 66,312 | 66,312 | 33,765 | ||||
| Legal and professional | fees | 14,290 | 14,290 | 9,630 | |||
| 82,536 | 82,536 | 45,079 | |||||
| 10. | Analysis ofgrants | ||||||
| 2021 | 2020 | ||||||
| g | |||||||
| Grants toinstitutions | |||||||
| The Beth Hamedrash | Satmar | Trust | 103,400 | 201,000 | |||
| Be'er Yitzchok Trust | 63,500 | ||||||
| Beis Ruchel D'Satmar | (London) Limited | 30,000 | |||||
| Chevras Mo'oz Ladol | 175,000 | ||||||
| CMZ Ltd | 50,000 | ||||||
| Centurian Charities Limited |
250,000 | ||||||
| Ezer Bekovoid Limited | 36,000 | ||||||
| Ora Vesimcha | 36,000 | ||||||
| Rookwood Foundation | Limited | 220,000 | |||||
| United Talmudical Associates |
Ltd | 1,455,000 | 1,220,000 | ||||
| Tehilois Yoel | 275,000 | ||||||
| Vyoel Moshe Charitable Trust Yetev Lev London Jerusalem Trust |
85,000 | 30,000 68,000 |
|||||
| Yesamach Levav | 35,000 | 40,000 | |||||
| YG SYeshiva Gedola | Seminar | 40,000 | |||||
| Asser Bishvil Foundation | 65,000 | ||||||
| Chevras Mo'oz Ladol | 53,000 | ||||||
| Cong V'Yoel Moshe D'Satmar | Charitable Trust | 48,000 | |||||
| Collel Chibath Yerushalayim | Trust | 50,000 | |||||
| SFFoundation | 82,000 | ||||||
| Donations below f30,000 |
719,900 | 737,200 | |||||
| 2,696,300 | 3,471,700 | ||||||
| Total grants | 2,696,300 | 3,471,700 |
| Analysis of | Grants to Institutions: | ||
|---|---|---|---|
| Advancement | ofthe Jewish Religion | 921,835 | 1,394,130 |
| Advancement | ofJewish Education | 966,035 | 1,084,230 |
| Relief ofPoverty | 808,430 | 993,340 | |
| Total | 2,696,300 | 3,471,700 |
| Auditors remunerat | ion | |||||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| Fees payable for the | audit of | the financial | statements | 4,800 | 6,960 | |
| Fees payable to the | charity's | auditor | and | its associates for other services: | ||
| Taxation compliance | services | 14,800 | 6,600 | |||
| Other non-audit services |
6,000 | 20,000 | ||||
| 20,800 | 26,600 |
| The charity did not meet any expenses (2020:anil) i to the charity. Tangible fixed assets |
ncurred by the trustees for services provided |
|---|---|
| Freehold | |
| property | |
| Cost | |
| At 1April 2020 | 14,827,618 |
| Additions | 28,664 |
| At31March 2021 | 14,856,282 |
| Carrying amount At31March 2021 |
14,856,282 |
| At 31March 2020 | 14,827,618 |
should the need arise. While the charity's immediate usage o are rented out in order to increase the charity's revenue. Investments |
fthese building is not required, they |
|---|---|
| Listed | |
| investments | |
| K | |
| Cost or valuation | |
| At I April 2020 | 29,040,000 |
| Additions | |
| Fair value movements | 11,797,500 |
| At31March 2021 | 40,837,500 |
| Impairment | |
| At 1April 2020 and 31March 2021 | |
| Carrying amount At31March 2021 |
40,837,500 |
| At 31March 2020 | 29,040,000 |
| activities, hel accounts. Debtors |
d and carried out on trust for Wisehei |
ghts Limited, are reported in t |
he charity's |
|---|---|---|---|
| 2021 | 2020 | ||
| Trade debtors | 332,433 | 224,380 | |
| Prepayments | and accrued income | 84,357 | 75,405 |
| Other debtors | 79,810 | 278,783 | |
| 496,600 | 578,568 |
| Analysis ofcash and cash | equivalents | |||
|---|---|---|---|---|
| 2021 | 2020 | |||
| Cash in hand | 693,348 | 422,282 | ||
| Overdraft facility repayable |
on demand | |||
| Total cash aad cash equivalents | 693,348 | 422,282 | ||
| 1$. | Creditors: amounts falling |
due within one year | ||
| 2021 | 2020 | |||
| Bank loans and overdrafts | 140,500 | 122,300 | ||
| Accruals and deferred income | 101,032 | 94,886 | ||
| Other creditors | 1,119,393 | 1,081,393 | ||
| 1,360,925 | 1,298,579 | |||
| 19. | Creditors: amounts falling |
due after more than one year | ||
| 2021 | 2020 | |||
| Bank loans and overdrafts | 4,113,838 | 4,272,520 |
| Analysis ofcharitable Unrestricted funds |
funds |
||||
|---|---|---|---|---|---|
| At | |||||
| At | Gains and 31March 20 | ||||
| 1April 2020 | Income f |
Expenditure | losses | 21 | |
| General funds | 17,251,169 | 3,432,507 | (3,118,409) | 17,565,267 | |
| Fair value reserve | 22,046,200 | 11,797,500 | 33,843,700 | ||
| 39,297,369 | 3,432,507 | (3,118,409) | 11,797,500 | 51,408,967 | |
| At | |||||
| At | Gains and 31March 202 | ||||
| 1 April 2019 | Income | Expenditure c |
losses f |
0 | |
| General funds | 17,512,362 | 3,668,200 | (3,929,393) | 17,251,169 | |
| Fair value reserve | 26,039,200 | (3,993,000) | 22,046,200 | ||
| 43,551,562 | 3,668,200 | (3,929,393) | (3,993,000) | 39,297,369 |
| 21. | Analysis ofnet asset | s bet | we | en funds | |||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | ||||||||
| Funds | 2021 | ||||||||
| Tangible fixed assets Investments |
14,856,282 40,837,500 |
14,856,282 40,837,500 |
|||||||
| Current assets | 1,189,948 | 1,189,948 | |||||||
| Creditors less than I year | (1,360,925) | (1,360,925) | |||||||
| Creditors greater than | 1year | (4,113,838) | (4,113,838) | ||||||
| Net assets | 51,408,967 | 51,408,967 | |||||||
| Unrestricted | Total Funds | ||||||||
| Funds | 2020 | ||||||||
| Tangible fixed assets | 14,827,618 | 14,827,618 | |||||||
| Investments | 29,040,000 | 29,040,000 | |||||||
| Current assets | 1,000,850 | 1,000,850 | |||||||
| Creditors less than 1 year |
(1,298,579) | (1,298,579) | |||||||
| Creditors greater than | 1year | (4,272,520) | (4,272,520) | ||||||
| Net assets | 39,297,369 | 39,297,369 | |||||||
| 22. | Financial instnunents | ||||||||
| 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 income and | |||||||
| expenditure | 40,837,500 | 29,040,000 | |||||||
| 23. | Analysis ofchanges | in net debt | |||||||
| At | At | ||||||||
| 1Apr 2020 | Cash flows | 31Mar 2021 | |||||||
| Cash at bank and in hand | 422,282 | 271,066 | 693,348 | ||||||
| Debt due within one year | (122,300) | (18,200) | (140,500) | ||||||
| Debt due after one year | (4,272,520) | 158,682 | (4,113,838) | ||||||
| (3,972,538) | 411,548 | (3,560,990) |