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|---|---|---|---|---|---|---|---|---|
|Trustees'<br>annual report||(incorporating||the directors' report)|||||
|Independent|auditor's|report to the members|||||||
|Consolidated|statement offinancial||activities||(including||income and||
|expenditure|account)|||||||10|
|Parent statement offinancial activities||||(including||income|and||
|expenditure|account)||||||||
|Consolidated|statement offinancial position|||||||12|
|Parent balance sheet||||||||13|
|Consolidated|statement ofcash flows|||||||14|
|Notes to the|financial|statements||||||15|





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|follows:||||||
|---|---|---|---|---|---|
|||||2021|2020|
|Grants and donations|||paid out|3,204,600|1,818,300|
|Net rental|income|||2,672,738|2,369,348|
|Dividend|income from listed investments|||23,474|29,602|
|Investment|property||at fair value|42,436,689|42,188,026|
|Listed investments||at fair value||650,176|390,782|



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|||||||2021|2021|2020|
|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted||Unrestricted|
|||||||funds|Total funds|funds|
||||||Note|g|||
|Income and|endowments||||||||
|Donations<br>and legacies|||||5||||
|Investment|income||||6|3,892,730|3,892,730|3,852,272|
|Total income||||||3,892,730|3,892,730|3,852,272|
|Expenditure|||||||||
|Expenditure|on raising funds:||||||||
|Investment<br>management|||costs||7|(1,302,131)|(1,302,131)|(1,520,478)|
|Expenditure|on charitable|activities|||8,9|(3,226,710)|(3,226,710)|(1,842,966)|
|Taxation|||||12|(34,494)|(34,494)|35,634|
|Total expenditure||||||(4,563,335)|(4,563,335)|(3,327,810)|
|Fair value movements|||||13|259,394|259,394|(170,404)|
|Net income|and net movement|||in funds||(411,211)|(411,211)|354,058|
|Reconciliation<br>offunds|||||||||
|Total funds|brought<br>forward||||24|34,134,053|34,134,053|33,779,995|
|Total funds|carried forward||||25|33,722,842|33,722,842|34,134,053|





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|||Year ended|30June|2021|2021||
|---|---|---|---|---|---|---|
|||||2021||2020|
|||||Unrestricted||Unrestricted|
|||||funds|Total funds|funds|
||||Note|8|||
|Income and endowments|||||||
|Donations<br>snd legacies|||5|3,060,000|3,060,000|1,960,198|
|Total income||||3,060,000|3,060,000|1,960,198|
|Expenditure|||||||
|Expenditure<br>on charitable|activities||8,9|(3,226,710)|(3,226,710)|(1,842,966)|
|Total expenditure||||(3,226,710)|(3,226,710)|(1,842,966)|
|Fair value movements|||13|(246,501)|(246,501)|238,826|
|Net expenditure<br>and net|movement|in funds||(413,211)|(413,211)|356,058|
|Reconciliation<br>offunds|||||||
|Total funds brought<br>forward|||24|34,136,154|34,136,154|33,780,096|
|Total funds carried forward|||25|33,722,943|33,722,943|34,136,154|





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|||||2021|2020|
|---|---|---|---|---|---|
||||Note|||
|Fixed assets||||||
|Tangible fixed assets|||16|11,053|14,738|
|Investments|||17|43,086,865|42,578,808|
|||||43,097,918|42,593,546|
|Current assets||||||
|Debtors|||19|1,634,741|1,376,958|
|Cash at bank and in hand||||377,766|1,721,650|
|||||2,012,507|3,098,608|
|Creditors: amounts|falling due within|one year|20|(2,972,758)|(2,827,908)|
|Net current liabilities||||(960,251)|270,700|
|Total assets less current liabilities||||42,137,667|42,864,246|
|Creditors: amounts|falling due after|more than one year|21|(3,188,457)|(3,538,319)|
|Provisions|||23|(5,226,368)|(5,191,874)|
|Net assets||||33,722,842|34,134,053|
|Funds ofthe charity||||||
|Unrestricted<br>funds||||33,722,842|34,134,053|
|Total charity funds|||25|33,722,842|34,134,053|





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|Year|ended 30June 202|1|||
|---|---|---|---|---|
||||2021|2020|
||||f||
|Cash flows from operating<br>activities|||||
|Net income|||(411,211)|354,058|
|Adjustments<br>for:<br>Depreciation oftangible fixed assets<br>Fair value movements|||3,685<br>(259,394)|4,914<br>170,404|
|Dividends,<br>interest and rents from investments|||(3,892,730)|(3,852,272)|
|Other interest receivable<br>and similar income|||||
|Taxation|||34,494|(35,634)|
|Accrued (income)/expenses|||7,746|(81,816)|
|Donations<br>received and granted in the form|of subsidiaries||||
|Changes in:<br>Trade and other debtors|||(257,783)|289,066|
|Trade and other creditors|||128,112|240,202|
|Cash generated<br>from operations|||(4,647,081)|(2,911,078)|
|Interest received|||||
|Net cash used in operating<br>activities|||(4,647,081)|(2,911,078)|
|Cash flows from investing<br>activities|||||
|Dividends,<br>interest and rents &om investments|||3,892,730|3,852,272|
|Purchases ofother investments|||(248,663)|(400,442)|
|Proceeds from sale ofother investments||||19,000|
|Net cash from investing<br>activities|||3,644,067|3,470,830|
|Cash flows from financing<br>activities<br>Proceeds from borrowings|||(340,870)|903,601|
|Net cash from/(used<br>in) financing<br>activities|||(340,870)|903,601|
|Net increase in cash and cash equivalents|||(1,343,884)|1,463,353|
|Cash and cash equivalents<br>at beginning|ofyear||1,721,650|258,297|
|Cash and cash equivalents<br>at end ofyear||27|377,766|1,721,650|





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|member<br>in <br>Donations|the event ofa<br>and legacies|winding<br>up|is limited to $1.||||
|---|---|---|---|---|---|---|
|Ch~itx|||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||Funds|2021|Funds|2020|
|Donations|||||||
|Gift Aid received|||3,060,000|3,060,000|1,960,198|1,960,198|
|Investment|income||||||
||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||Funds|2021|Funds|2020|
|Income from investment||properties|3,869,256|3,869,256|3,822,670|3,822,670|
|Income from other investments|||23,474|23,474|29,602|29,602|
||||3,892,730|3,892,730|3,852,272|3,852,272|





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||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|---|---|---|---|---|---|---|
||||Funds|2021|Funds|2020|
|Investment<br>management||costs|1,093,993|1,093,993|1,366,127|1,366,127|
|Administrative|expenses||105,613|105,613|67,156|67,156|
|Other interest payable<br>Finance charges|||93,271<br>9,254|93,271<br>9,254|81,587<br>5,608|81,587<br>5,608|
||||1,302,131|1,302,131|1,520,478|1,520,478|



|Expenditur|e<br>on charitable<br>a|ctivities by fund type||||
|---|---|---|---|---|---|
|||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||Funds|2021|Funds|2020|
|Charitable|activity|3,204,600|3,204,600|1,818,300|1,818,300|
|Support costs||22,110|22,110|24,666|24,666|
|||3,226,710|3,226,710|1,842,966|1,842,966|



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|Expenditure|on charitable<br>ac|tivities by activity type||||
|---|---|---|---|---|---|
|||Grant||||
|||funding of||Total funds|Total fund|
|||activities|Support costs|2021|2020|
|||f.||||
|Charitable|activity|3,204,600||3,204,600|1,818,300|
|Governance|costs||22,110|22,110|24,666|
|||3,204,600|22,110|3,226,710|1,842,966|



|nalysis ofs|upport|costs||||||
|---|---|---|---|---|---|---|---|
|||Accountancy||||||
|||and non-||General|Legal &|||
|||audit fees|Audit fees|expenses|Professional|Total 2021|Total 2020|
||||||f.|||
|Governance|costs|5,000|12,120|990|4,000|22,110|24,666|





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|11.|Analysis ofgrants||Year ended 30|June 2021|||
|---|---|---|---|---|---|---|
||||||Year to|Year to|
||||||30June 21|30June 20|
||||||s||
||Grants to institutions||||||
||Asser Bishvil Foundation||||37,000||
||Beis Ruchel D'Satmar (London) Ltd||||33,600|50,000|
||Congregation<br>Vyoel Moshe D'Satmer Charitable<br>Chevras Mo'oz Ladol|||Trust|25,000<br>48,000|45,000<br>30,000|
||Collel Chibath Yerushalayim,||Rabbi Meir Baal|Hanes Trust|30,000|50,000|
||The Friends ofYeshivas|Brisk|||33,000|3,000|
||Keren Ezra Mimtzika||||23,600|30,000|
||Ora Vesimcha||||10,000|30,000|
||Palmcourt<br>Limited||||50,000||
||United Talmudical<br>Associates||Ltd||2,130,000|890,000|
||UTRY||||45,000|30,000|
||Vyoel Moshe Charitable<br>Trust<br>Yetev Lev London Jerusalem||Trust||35,000<br>51,000|35,000<br>105,000|
||Yesamach Levav||||28,000|35,000|
||YG SYeshiva Gedola Seminar||||18,000|35,000|
||Other donations<br>below 630,000||||607,400|450,300|
||||||3,204,600|1,818,300|
||Total grants||||3,204,600|1,818,300|
||Analysis ofGrants to Institutions:||||||
||Advancement<br>ofthe Jewish Religion||||1,054,783|576,100|
||Advancement<br>ofJewish|Education|||1,117,734|679,100|
||Relief ofPoverty||||1,032,083|563,100|
||Total||||3,204,600|1,818,300|
|12.|Taxation||||||
||Deferred tax:||||||
||||||2021|2020|
||Origination<br>and reversal|oftiming differences|||34,494|(35,634)|
||Taxation||||34,494|(35,634)|





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|~Grou|||Unrestricted|Total Funds|Unrestricted|Total Funds|
|---|---|---|---|---|---|---|
||||Funds|2021|Funds|2020|
|Gains/(losses)|on investment|property|||18,850|18,850|
|Gains/(losses)|on listed investments||259,394|259,394|(189,254)|(189,254)|
||||259,394|259,394|(170,404)|(170,404)|
|Charity|||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||Funds|2021|Funds|2020|
|Gains/(losses)|on subsidiary||||||
|undertakings|||(246,501)|(246,501)|238,826|238,826|
||||(246,501)|(246,501)|238,826|238,826|
|Net income|||||||
|Net income is stated after charging/(crediting):|||||||
||||||2021|2020|
|Depreciation oftangible fixed assets|||||3,685|4,914|
|Non audit fees||||||12,600|
|Fees payable for the audit ofthe financial|||statements||24,480|25,602|



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|The charity did not meet any expenses (2020: gnil) incurred<br>to the charity.<br>Tangible fixed assets|by the trustees for services provided|
|---|---|
||Plant and|
||machinery|
|Cost||
|At 1July 2020 and 30June 2021|26,202|
|Depreciation||
|At 1 July 2020|11,464|
|Charge for the year|3,685|
|At 30June 2021|15,149|
|Carrying<br>amount||
|At 30June 2021|11,053|
|At 30June 2020|14,738|





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|Investments<br>Notes to the Financia<br>Year ended|l Statements<br>(conrt sert<br> 30Jane 2021|)||
|---|---|---|---|
||Listed|Investment||
|~Grou|investments|properties|Total|
|Cost or valuation||||
|At 1 July 2020|390,782|42,188,026|42,578,808|
|Additions||248,663|248,663|
|Fair value movements|259,394||259,394|
|At 30June 2021|650,176|42,436,689|43,086,865|
|Impairment<br>AtIJuly 2020 and 30June 2021||||
|Carrying<br>amount||||
|At 30June 2021|650,176|42,436,689|43,086,865|
|At 30June 2020|390,782|42,188,026|42,578,808|



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|evidence oftransaction<br>prices for similar properties<br>and condition.|in the same location taking acco|unt their age|
|---|---|---|
||Subsidiary||
|Charity|Undertaking<br>investments|Total|
|Cost or valuation|||
|At 1 July 2020|34,012,873|34,012,873|
|Additions|||
|Disposals|||
|Fair value movements|(246,501)|(246,501)|
|At 30June 2021|33,766,372|33,766,372|
|Impairment<br>AtIJuly 2020 and 30June 2021|||
|Carrying<br>amount|||
|At 30June 2021|33,766,372|33,766,372|
|At 30June 2020|34,012,873|34,012,873|





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|vestment<br>bsidiaries|entities|Yea|r ended 30June|2021|||
|---|---|---|---|---|---|---|
||||Description|4t Proportion|Nature of||
||||OfShare Capital||Owned|Business|
|Altena Estates Limited|||Ordinary|100%|Property|Investment|
||||Preference|100%|||
|Barryvale|Limited||Ordinary|100%|Property|Investment|
|Fleetguild|Limited||Ordinary|100%|Property|Investment|
|Hiltshore|Limited||Ordinary|100%|Dormant||
|Mirette Investments||Limited|Ordinary|100%|Property|Investment|
||||Preference|100%|||



|Mirette Investments<br>Lim|Mirette Investments<br>Lim|ited<br>Ordinary<br>Preference|100%<br>100%<br>Property<br>Investment|100%<br>100%<br>Property<br>Investment|100%<br>100%<br>Property<br>Investment|
|---|---|---|---|---|---|
|The subsidiaries<br>have year||ends coterminous<br>with the|parent charity and the 2021 figures are disclosed|||
|below||C~<br>T|N~dit||Prolit/Loss|
|||Number||||
|Altena Estates Limited||01042867||(2,847)|(2,847)|
|Barryvale|Limited|03584191<br>1,449,686||(397,918)|1,051,768|
|Fleetguild|Limited|02787962<br>1,766,342||(634,678)|1,131,664|
|Hiltshore|Limited|02788553||||
|Mirette Investments||01024660<br>676,702||(266,688)|410,014|
|Limited||||||
|||Fixed<br>Current||~lt|NtN<br>t|
|||Assets<br>Assets|Liabilities|Liabilities||
|Altena Estates Limited||1,202,018<br>1,033,151|(940,242)||1,294,927|
|Barryvale|Limited|11,958,324<br>962,294|(5,314,296)|(1,373,681)|6,232,641|
|Fleetguild|Limited|20,742,174<br>564,681|(1,291,398)|(2,709,135)|17,306,322|
|Hiltshore|Limited|100<br>5,747|(11,995)||(6,148)|
|Mirette Investments||9,195,402<br>4,177,645|(102,409)|(4,332,009)|8,938,629|
|Limited||||||





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|19.|Debtors||||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||Trade debtors||||1,253,054|1,032,432|
||Prepayments<br>and accrued||income||22,605|18,333|
||Other debtors||||359,082|326,193|
||||||1,634,741|1,376,958|
|20.|Creditors: amounts|falling due within||one year|||
||Group||||2021|2020|
||Bank loans and overdrafts||||339,760|330,768|
||Trade creditors|||||10,111|
||Accruals and deferred|income|||155,167|147,421|
||Social security and other||taxes||1,316||
||Other creditors||||2,476,515|2,339,608|
||||||2,972,758|2,827,908|
||Charity||||2021|2020|
||Accruals and deferred|income|||22,431|24,511|
||Other creditors||||28,755|28,755|
||||||51,186|53,266|
|21.|Creditors: amounts|falling due atter||more than one year|||
||||||2021|2020|
||Bank loans and overdrails||||3,188,457|3,538,319|
|22.|Deferred tax||||||
||The deferred tax included||in the statement offinancial position is||as follows:||
||||||2021|2020|
||||||K||
||Included<br>in provisions|(note 23)|||5,226,368|5,191,874|
|23.|Provisions||||||
|||||||Deferred tax|
|||||||(note 22)|
||At 1 July 2020|||||5,191,874|
||Additions|||||34,494|
||At 30June 2021|||||5,226,368|





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||||At|||Fair value||At|
|---|---|---|---|---|---|---|---|---|
|Group||I July|2020|Income|Expenditure|movements||30June 2021|
|||||f,|||||
|General|funds|34,134,053||3,892,730|(4,563,335)|259,394||33,722,842|
||||At|||Fair value||At|
|||I April|2019|Income|Expenditure|movements|30June 2020||
|General|funds|33,779,995||3,852,272|(3,327,810)|(170,404)||34,134,053|
|Unrestricted||funds|||||||
||||At|||Fair value||At|
|Charity||I July|2020|Income|Expenditure|movements||30June 2021<br>f.|
|General|funds|34,136,154||3,060,000|(3,226,710)|(246,301)||33,722,943|
||||At|||Fair value||At|
|||I April|2019|Income|Expenditure|movements|30June 2020||
|General|funds|33,780,096||1,960,198|(1,842,966)|238,826||34,136,154|
|Analysis|ofnet assets between funds||||||||
|||||||Unrestncted||Total Funds|
|||||||Funds||2021|
|Tangible fixed assets<br>Investments||||||11,053<br>43,086,865||11,053<br>43,086,865|
|Current|assets|||||2,012,507||2,012,507|
|Creditors|less|than I year||||(2,972,758)||(2,972,758)|
|Creditors|greater than I year|||||(3,188,457)||(3,188,457)|
|Provisions||||||(5,226,368)||(5,226,368)|
|Net assets||||||33,722,842||33,722,842|
|||||||Unrestricted||Total Funds|
|||||||Funds||2020|
|Tangible fixed assets<br>Investments||||||14,738<br>42,578,808||14,738<br>42,578,808|
|Current|assets|||||3,098,608||3,098,608|
|Creditors<br>less than I year<br>Creditors greater than I year<br>Provisions||||||(2,827,908)<br>(3,538,319)<br>(5,191,874)||(2,827,908)<br>(3,538,319)<br>(5,191,874)|
|Net assets||||||34,134,053||34,134,053|





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|Analy|sis ofchanges<br>in net debt||||
|---|---|---|---|---|
|||||At|
|||At 1 Jul 2020|Cash flows|30Jun 2021|
|Cash|at bank and in hand|1,721,650|(1,343,884)|377,766|
|Debt|due within one year|(330,768)|(8,992)|(339,760)|
|Debt|due after one year|(3,538,319)|349,862|(3,188,457)|
|||(2,147,437)|(1,003,014)|(3,150,451)|




|Analysis ofcash and cash|equivalents|||
|---|---|---|---|
|||2021|2020|
|Cash at bank and in hand||377,766|1,721,650|
|Overdraft<br>facility repayable|on demand|(-)|(-)|
|Total cash and cash equivalents||377,766|1,721,650|



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