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|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|
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|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||||
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|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|
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|||||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|
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|||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|
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|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|
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|||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|
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|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|
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|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|
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|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|
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|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|
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|
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|
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|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|
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||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|
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|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|
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|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)|
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