OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-06-30-accounts

Page
Trustees'
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

follows:
2022 2021
f
Grants and donations paid out 2,064,400 3,204,600
Net rental income 1,732,150 2,672,738
Dividend income from listed investments 18,440 23,474
Investment property at fair value 42,517,887 42,436,689
Listed investments at fair value 495,134 650,176

2022 2022 2021
Unrestricted Unrestricted
funds Total funds funds
Note 8 8
Income and endowments
Donations
and legacies		 5
Investment income 6 3,990,531 3,990,531 3,892,730
Total income 3,990,531 3,990,531 3,892,730
Expenditure
Expenditure on raising funds:
Investment
management		 costs 7 (2,337,830) (2,337,830) (1,302,131)
Expenditure on charitable activities 8,9 (2,080,114) (2,080,114) (3,226,710)
Taxation 12 14,953 14,953 (34,494)
Total expenditure (4,402,991) (4,402,991) (4,563,335)
Fair value movements 13 (155,042) (155,042) 259,394
Net income and net movement in funds (567,502) (567,502) (411,211)
Reconciliation
offunds
Total funds brought
forward		 24 33,722,842 33,722,842 34,134,053
Total funds carried forward 25 33,155,340 33,155,340 33,722,842

Year ended 30June 2022 2022
2022 2021
Unrestricted Unrestricted
funds Total funds funds
Note 8
Income and endowments
Donations
and legacies		 5 2,118,435 2,118,435 3,060,000
Total income 2,118,435 2,118,435 3,060,000
Expenditure
Expenditure
on charitable		 activities 8,9 (2,080,114) (2,080,114) (3,226,710)
Total expenditure (2,080,114) (2,080,114) (3,226,710)
Fair value movements 13 (605,823) (605,823) (246,501)
Net expenditure
and net		 movement in funds (567,502) (567,502) (413,211)
Reconciliation
offunds
Total funds brought
forward		 24 33,722,943 33,722,943 34,136,154
Total funds carried forward 25 33,155,441 33,155,441 33,722,943

2022 2021
Note f
Fixed assets
Tangible fixed assets 16 8,254 11,053
investments 17 43,013,021 43,086,865
43,021,275 43,097,918
Current
assets
Debtors 19 1,687,928 1,634,741
Cash at bank and in hand 823,480 377,766
2,511,408 2,012,507
Creditors: amounts falling due within one year 20 (2,372,540) (2,972,758)
Net current
liabilities		 138,868 (960,251)
Total assets less current liabilities 43,160,143 42,137,667
Creditors: amounts falling due after more than one year 21 (4 793388) (3 188457)
Provisions 23 (5,211,415) (5,226,368)
Net assets 33,155,340 33,722,842
Funds ofthe charity
Unrestricted
funds		 33,155,340 33,722,842
Total charity funds 25 33,155,340 33,722,842

Company
Limited
by Guarant		 Company
Limited
by Guarant		 ee
Parent Balance Sheet
30June 2022
2022 2021
Note 5
Fixed assets
Investments 17 33,160,549 33,766,372
33,160,549 33,766,372
Current
assets
Cash at bank and in hand 41,958 7,757
41,958 7,757
Creditors: amounts falling due within one year 20 (47,067) (51,186)
Net current assets (5,109) (43,429)
Total assets less current liabilities 33,155,440 33,722,943
Net assets 33,155,440 33,722,943
Funds ofthe charity
Unrestricted funds 33,155,440 33,722,943
Total charity funds 24 33,155,440 33,722,943

Year ended 30June 20 22
2021 2020
f
Cash flows from operating
activities
Net income (567,502) (411,211)
Adjustments
for:
Depreciation oftangible
fixed assets		 2,799 3,685
Fair value movements 155,042 (259,394)
Dividends,
interest
and rents from		 investments (3,990,531) (3,892,730)
Other interest receivable
and similar income
Taxation (14,953) 34,494
Accrued (income)/expenses 2,646 7,746
Donations
received and granted
in		 the form ofsubsidiaries
Changes
in:
Trade and other debtors (53,187) (257,783)
Trade and other creditors (665,555) 128,112
Cash generated
from operations		 (5,131,241) (4,647,081)
Interest received
Net cash used in operating
activities		 (5,131,241) (4,647,081)
Cash flows from investing
activities
Dividends,
interest and rents from		 investments 3,990,53 I 3,892,730
Purchases ofother investments (81,198) (248,663)
Net cash from investing
activities		 3,909,333 3,644,067
Cash flows from financing
activities
Proceeds from borrowings 1,667,622 (340,870)
Net cash from/(used
in) financing		 activities 1,667,622 (340,870)
Net increase in cash and cash equivalents 445,714 (1,343,884)
Cash and cash equivalents
at beginning		 ofyear 377,766 1,721,650
Cash and cash equivalents
at end ofyear		 27 823,480 377,766

5. member
in
Donations		 the event ofa
and legacies		 winding
up		 is limited to Xl.
Charity Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
f
Donations
Gift Aid received 2,118,435 2,118,435 3,060,000 3,060,000
6. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
f
Income from investment properties 3,972,091 3,972,091 3,869,256 3,869,256
Income from other investments 18,440 18,440 23,474 23,474
3,990,531 3,990,531 3,892,730 3,892,730

Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
Investment management costs 2,112,906 2,112,906 1,093,993 1,093,993
Administrative expenses 97,889 97,889 105,613 105,613
Other interest payable 115,921 115,921 93,271 93,271
Finance charges 11,114 11,114 9,254 9,254
2,337,830 2,337,830 1,302,131 1,302, 131
Expenditur e on charitable activities by fund type
Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
f
Charitable activity 2,064,400 2,064,400 3,204,600 3,204,600
Support costs 15,714 15,714 22,110 22,110
2,080,114 2,080,114 3,226,710 3,226,710
Expenditure on charitable
ac		 tivities
by activity type
Grant
funding of Total funds Total fund
activities Support costs
f		 2022 2021
f
Charitable activity 2,064,400 2,064,400 3,204,600
Governance costs 15,714 15,714 22,110
2,064,400 15,714 2,080,114 3,226,710
is
ofsuppo		 rt
cost		 s
Accountancy
and non-audit General
fees Audit fees
f		 expenses Total 2022
8		 Total 2021
f
Governance costs 5,000 10,200 514 15,714 22,110

11. Analysis ofgrants Year ended 30 June 2022
Year to Year to
30June 22 30 June 21
f f
Grants to institutions
Amud Hatzdokoh
Trust		 31,600 19,700
Asser Bishvil Foundation 37,000
Beis Ruchel D'Satmar (London) Ltd 50,000 33,600
Congregation
Vyoel Moshe D'Satmer Charitable		 Trust 36,000 25,000
Chevras Mo'oz Ladol 85,400 48,000
Collel Chibath Yerushalayim, Rabbi Meir Baal Hanes Trust 30,000 30,000
The Friends ofYeshivas Brisk 20,000 33,000
Palmcourt
Limited		 50,000
United Talmudical
Associates		 Ltd 1,035,000 2,130,000
UTRY 32,000 45,000
Vyoel Moshe Charitable Trust 40,000 35,000
Yetev Lev London Jerusalem Trust 50,000 51,000
Other donations
below f30,000		 654,400 667,300
2,064,400 3,204,600
Total grants 2,064,400 3,204,600
Analysis ofGrants to Institutions:
Advancement
ofthe Jewish Religion		 497,716 842,475
Advancement
ofJewish		 Education 608,800 881,825
ReliefofPoverty 573,917 826,575
Any other charitable
purposes		 383,967 653,725
Total 2,064,400 3,204,600
12. Taxation
Deferred tax:
2022 2021
Origination
and reversal		 oftiming differences (14,953) 34,494
Taxation (14,953) 34,494

~Grou Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
f
Gains/(losses) on listed investments (155,042) (155,042) 259,394 259,394
(155,042) (155,042) 259,394 259,394
Charity Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
Gains/(losses) on subsidiary
undertakings (605,823) (605,823) (246,501) (246,501)
(605,823) (605,823) (246,501) (246,501)
14, Net income
Net income is stated atter charging/(crediting):
2022 2021
Depreciation oftangible fixed assets 2,799 3,685
Non audit fees 32,120 34,400
Fees payable for the audit ofthe financial statements 22,440 24,480

Plant and
machinery
Cost
At 1July 2021 and 30June 2022 26,202
Depreciation
At 1 July 2021 15,149
Charge for the year 2,799
At 30June 2022 17,948
Carrying
amount
At 30June 2022 8,254
At 30 June 2021 11,053

Investments
Year ended 30Jun		 e 2022
Listed Investment
~Grou investments
f		 properties Total
8
Cost or valuation
At I July 2021 650,176 42,436,689 43,086,865
Additions 81,198 81,198
Fair value movements (155,042) — (155,042)
At 30June 2022 495,134 42,517,887 43,013,021
Impairment
At I July 2021 and 30June 2022
Carrying
amount
At 30June 2022 495,134 42,517,887 43,013,021
At 30 June 2021 650,176 42,436,689 43,086,865
All investments
shown above are held at valuation.

evidence oftransaction
prices for similar properties
and condition.		 in the same location taking acc ount their age
Subsidiary
~Charit Undertaking
investments Total
f.
Cost or valuation
At I July 2021 33,766,372 33,766,372
Additions
Disposals
Fair value movements (605,823) (605,823)
At 30June 2022 33,160,549 33,160,549
Impairment
At I July 2021 and 30June 2022
Carrying
amount
At 30June 2022 33,160,549 33,160,549
At 30June 2021 33,766,372 33,766,372

Description dr Proportion Nature of 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 IQQ% Property Investment
Preference 100%
Barryvale Limited
Fleetguild
Limited
Hiltshore
Limited
Mirette Investments		 Barryvale Limited
Fleetguild
Limited
Hiltshore
Limited
Mirette Investments		 Limited Ordinary
Ordinary
Ordinary
Ordinary
Preference		 100%
100%
100%
IQQ%
100%		 Property
Property
Dormant
Property		 Investment
Investment
Investment
The subsidiaries
have		 year ends coterminous
with the		 parent charity
and the		 2022 figures are disclosed
below:
~Com
an		 Turnover ~Ex enditu Profit/Loss
Number re
Altena Estates Limited 01042867 (2,644) (2,644)
Barryvale Limited 03584191 1,453,504 (397,056) 1,056,448
Fleetguild Limited 02787962 1,809,134 (1,678,815) 130,319
Hiltshore Limited 02788553
Mirette Investments Limited 01024660 727,845 (259,348) 468,497
Fixed
Current		 Loan
term		 Net Assets
Assets
Assets		 Liabilities L~ailtties
f.
Altena Estates Limited 1,201,937
1,032,988		 (942,642) 1,292,283
Barryvale Limited 12,026,296
937,197		 (4,585,723) (1,373,681) 7,004,089
Fleetguild Limited 20,597,860
593,274		 (2,221,416) (2,446,439) 16,523,279
Hiltshore Limited 100 5,747 (11,995) (6,148)
Mirette Investments Limited 9,195,182
5,525,086		 (188,540) (6,184,683) 8,347,045

19. Debtors
2022 2021
Trade debtors 1,247,936 1,253,054
Prepayments and accrued income 27,202 22,605
Other debtors 412,790 359,082
1,687,928 1,634,741
20. Creditors: amounts falling due within one year
Group 2022 2021
Bank loans and overdratis 402,451 339,760
Accruals and deferred income 157,813 155,167
Social security and other taxes 2,586 1,316
Other creditors 1,809,690 2,476,515
2,372,540 2,972,758
Charity 2022 2021
f
Accruals and deferred income 18,312 22,431
Other creditors 28,755 28,755
47,067 51,186
21. Creditors: amounts falling due after more than one year
2022 2021
Bank loans and overdrafts 4,793,388 3,188,457
22. Deferred tax
The deferred tax included in the statement offinancial position is as follows:
2022 2021
Included
in provisions		 (note 23) 5,211,415 5,226,368
23. Provisions
Deferred tax
(note 22)
At I July 2021 5,226,368
Additions (14,953)
At 30June 2022 5,211,415

C om pan y
Limited		 y
Limited		 by Guarant by Guarant ee
NOteS tO the FinanCial StatementS rrondndaa
Year ended 30 June 2022
Analysis ofcharitable funds
Unrestricted funds
At Fair value At
Group I July 2021 Income Expenditure movements 30June 2022
f f
General funds 33,722,842 3,990,531 (4,402,991) (155,042) 33,155,340
At Fair value At
I April 2020 Income Expenditure movements
f		 30 June 2021
f
General funds 34,134,053 3,892,730 (4,563,335) 259,394 33,722,842
Unrestricted funds
At Fair value At
Charity I July 2021 Income Expenditure movements 30June 2022
f f f f
General funds 33,722,943 2,118,435 (2,080,114) (605,823) 33,155,441
At Fair value At
I April 2020
f		 Income
f		 Expenditure
f		 movements
f.		 30 June 2021
f
General funds 34,136,154 3,060,000 (3,226,710) (246,501) 33,722,943
Analysis ofnet assets between funds
Unrestricted Total Funds
Funds 2022
Tangible tixed assets 8,254 8,254
Investments 43,013,021 43,013,021
Current assets 2,511,408 2,511,408
Creditors less than I year (2,372,540) (2,372,540)
Creditors greater than I year (4,793,388) (4,793,388)
Provisions (5,211,415) (5,211,415)
Net assets 33,155,340 33,155,340
Unrestricted Total Funds
Funds 2021
f
Tangible lixed assets 11,053 11,053
Investments 43,086,865 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 1 year (3 188457) (3,188,457)
Provisions (5,226,368) (5,226,368)
Net assets 33,722,842 33,722,842

Analysis ofchanges in net Year ended 3
debt		 0June 20 22
At
At 1 Jul 2021 Cash tlows 30Jun 2022
f f.
Cash at bank and in hand 377,766 445,714 823,480
Debt due within
one year		 (339,760) (62,691) (402,451)
Debt due alter one year (3,188,457) (1,604,931) (4,793,388)
(3,150,451) (1,221,908) (4,372,359)
Analysis ofcash and cash equivalents
2022 2021
f
Cash at bank and in hand 823,480 377,766
Overdratt facility repayable on demand (-) (-)
Total cash and cash equivalents 823,480 377,766