2023-06-30-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:
		2023	2022
Grants and donations paid out		1,617400	2,064,400
Net rental	income	2,113,069	1,729,351
Dividend	income from listed investments	40)332	18,440
Investment	property at fair value	43,960,138	42,517,887
Listed investments at fair value		551,884	495,134

						2023	2023	2022
						Unrestricted		Unrestricted
						funds	Total funds	funds
					Note	f,
Income and	endowments
Donations and legacies					5	30,000	30,000
Investment	income				6	4,199,163	4,199,163	3,990,531
Total income						4,229,163	4,229,163	3,990,531
Expenditure
Expenditure	on raising funds:
Investment management			costs		7	(2,192,911)	(2,192,911)	(2,337,830)
Expenditure	on charitable	activities			8,9	(1,632,097)	(1,632,097)	(2,080,114)
Taxation					12	(1,660,230)	(1,660,230)	14,953
Total expenditure						(5,485,238)	(5,485,238)	(4,402,991)
Fair value movements					13	56,750	56,750	(155,042)
Net income	and net movement			in funds		(1,199,325)	(1,199,325)	(567,502)
Reconciliation offunds
Total funds	brought forward				24	33,155,340	33,155,340	33,722,842
Total funds	carried forward				25	31,956,015	31,956,015	33,155,340

		Year ended	30June	2023	2023
				2023		2022
				Unrestricted		Unrestricted
				funds	Total funds	funds
			Note	g
lacome and endowments
Donations and legacies			5	1,600,500	1,600,500	2,118,435
Total income				1,600,500	1,600,500	2,118,435
Expenditure
Expenditure on charitable	activities		8,9	(1,632,097)	(1,632,097)	(2,080,114)
Total expenditure				(1,632,097)	(1,632,097)	(2,080,114)
Fair value movements			13	(1,167,728)	(1,167,728)	(605,823)
Net expenditure and net	movement	in funds		(1,199,325)	(1,199,325)	(567,502)
Reconciliation offunds
Total funds brought forward			24	33,155,440	33,155,440	33,722,942
Total funds carried forward			24	31,956,115	31,956,115	33,155,440

					2023	2022
				Note	g
Fixed assets
Tangible fixed assets				16	6,191	8,254
Investments				17	44,512,022	43,013,021
					44,518,213	43,021,275
Current assets
Debtors				19	1,852,266	1,687,928
Cash at bank	and in hand				279,865	823,480
					2,132,131	2,511,408
Creditors: amounts		falling due within one year		20	(3,051,127)	(2,372,540)
Net current	liabilities				(918,996)	138,868
Total assets	less current		liabilities		43,599,217	43 160 143
Creditors: amounts		falling due after more than one year		21	(4,771,557)	(4,793,388)
Provisions				23	(6,871,645)	(5,211,415)
Net assets					31,956,015	33,155,340
Funds ofthe	charity
Unrestricted	funds				31,956,015	33,155,340
Total charity	funds			25	31,956,015	33,155,340

		30June 2023
				2023	2022
			Note	g
Fixed assets
Investments			17	31,992,821	33,160,549
				31,992,821	33,160,549
Current assets
Cash at bank	and in	hand		2,861	41,958
				2,861	41,958
Creditors: amounts		falling due within one year	20	(39,567)	(47,067)
Net current	assets			(36,706)	(5,109)
Total assets	less current liabilities			31,956,115	33,155,440
Net assets				31,956,115	33,155,440
Funds ofthe	charity
Unrestricted	funds			31,956,115	33,155,440
Total charity	funds		24	31,956,115	33,155,440

		Year	ended 30June	2023
					2023	2022
						f.
Cash flows from operating	activities
Net income					(1,199,325)	(567,502)
Adjustments for: Depreciation oftangible fixed assets					2,063	2,799
Fair value movements					(56,750)	155,042
Dividends, interest and rents &om		investments			(4,199,163)	(3,990,53I)
Taxation					1,660,230	(14,953)
Accrued (income)/expenses					226,862	2,646
Changes in:
Trade and other debtors					(164,338)	(53,187)
Trade and other creditors					765,658	(665,555)
Cash generated from operations					(2,964,763)	(5,131,241)
Interest received
Net cash used in operating	activities				(2,964,763)	(5,131,241)
Cash flows from investing activities Dividends, interest and rents from investments					4,199,163	3,990,531
Purchases ofother investments					(1,442,251)	(81,198)
Net cash &om investing activities					2,756,912	3,909,333
Cash flows from financing	activities
Proceeds from borrowings					(335,782)	1,667,622
Net cash from/(used in) financing		activities			(335,782)	1,667,622
Net increase in cash and cash equivalents Cash and cash equivalents at beginning			ofyear		(543,633) 823,480	445,714 377,766
Cash and cash equivalents	at end ofyear			27	279,847	823,480

5.	Donations	and legacies	and legacies
	~Grou					Unrestricted	Total Funds	Unrestricted	Total Funds
						Funds	2023	Funds	2022
							a
	Donations
	Gift Aid received					30,000	30,000
	Ch~ithr					Unrestricted	Total Funds	Unrestricted	Total Funds
						Funds	2023	Funds	2022
	Donations
	Gift Aid received					1,600,500	1,600,500	2,118,435	2,118,435
6.	Investment	income
						Unrestricted	Total Funds	Unrestricted	Total Funds
						Funds	2023	Funds	2022
							x
	Income ftom Income from		investment properties other investments			4,158,831 40,332	4,158,831 40,332	3,972,091 18,440	3,972,091 18,440
						4,199,163	4,199,163	3,990,531	3,990,531
7.	Investment	management		costs
						Unrestricted	Total Funds	Unrestricted	Total Funds
						Funds	2023	Funds	2022
	Administrative expenses Investment management Other interest payable Finance charges			costs		147,149 1,739,006 290,402 16,354	147,149 1,739,006 290,402 16,354	95,090 2,115,705 115,921 11,114	95,090 2,115,705 115,921 11,114
						2,192,911	2,192,911	2,337,830	2,337,830
8.	Expenditure		on charitable		activities	by fund type
						Unrestricted	Total Funds	Unrestncted	Total Funds
						Funds	2023	Funds	2022
	Charitable activity Supportcosts					1,617,200 14,897	1,617700 14,897	2,064,400 15,714	2,064,400 15,714
						1,632,097	1,632,097	2,080,114	2,080,114
	Expenditure		on charitable		activities	by activity type
						Grant
						funding of		Total funds	Total fund
						activities	Support costs	2023	2022
							E
						1,617,200	14,897	1,617,200 14,897	2,064,400 15,714
						1,617,200	14,897	1,632,097	2,080,114

		Accountancy	Accountancy	Accountancy	Accountancy
		and non-audit						General
					fees	Audit	fees	expenses	Total 2023	Total 2022
					8				8
	Governance costs			7,500			7,080	317	14,897	15,714
11.	Analysis ofgrants								Year to	Year to
									30June 23	30June 22
										f
	Grants to institutions
	Amud Hatzdokoh Trust								18,000	31,600
	Be'er Yitzchok Trust								10,000	15,000
	Bais Rizhin Trust									18,000
	Beis Ruchel D'Satmar (London) Ltd Congregation Vyoel Moshe D'Satmer Charitable Chasdei Moishe Trust						Trust		27,500	50,000 36,000 17,500
	Chasdei Shlomo								4,000	18,000
	Chevras Mo'oz Ladol								20,000	85,400
	Collel Chibath Yerushalayim, Ezer Bekovoid Limited		Rabbi Meir			Baal	Hanes	Trust		30,000 20,000
	The Friends ofYeshivas	Brisk								20,000
	Keren Hatzolo								3,000	15,500
	KYL Central Shul London								10,000	15,000
	United Talmudical Associates		Ltd						855,000	1,035,000
	UTRY								33,000	32,000
	Vyoel Moshe Charitable Trust Yetev Lev London Jerusalem		Trust						20,000 35,000	40,000 50,000
	Yesamach Levav								7,000	22,000
	YG SYeshiva Gedola	Seminar							19,500	17,000
	Other donations below 815,000								555,200	496,400
									1,617,200	2,064,400
	Total grants								1,617,200	2,064,400
	Analysis ofGrants to Institutions:
	Advancement ofthe Jewish Religion Advancement ofJewish Education ReliefofPoverty Any other charitable purposes								441,375 454,625 388,910 332,290	497,716 608,800 573,917 383,967
	Total								1,617,200	2,064,400
12.	Taxation
	Major components oftax expense:								2023	2022
	Deferred tax:
	Origination and reversal oftiming				differences				1,660,230	(14,953)
	Taxation								1,660,230	(14,953)
						20-

corporation tax in the UKof20.5	%(2022:19%)by refe	rence to the analysis below.
		2023	2022
		8
Net income before tax		2,031,405	468,416
Net income by rate oftax Income exempt &om tax Expenses not deductible for tax Effect ofgift aid Utilisation ofgroup losses Impact ofchange in tax rate Timing differences on unrealised Other adjustments	gains	416,439 (1,791) 60,840 (301,852) (162,012) 1,660,230 (11,634) 10	88,999 22,517 (111,553) (14,953) 37
Taxation
		1,660,230	(14,953)

~Gros		Unrestricted	Total Funds	Unrestricted	Total Funds
Fair value movements	on listed	Funds	2023 s	Funds f	2022
investments		56,750	56,750	(155,042)	(155,042)
		56,750	56,750	(155,042)	(155,042)
Charity		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
fair value movements	on subsidiary
undertakings		(1,167,728)	(1,167,728)	(605,823)	(605,823)
		(1,167,728)	(1,167,728)	(605,823)	(605,823)

Net income Year ended 30June 2023	Net income Year ended 30June 2023
Net income is stated after charging/(crediting):
		2023	2022
Depreciation oftangible fixed assets Non audit fees		2,063 36,990	2,799 32,120
Fees payable for the audit ofthe financial	statements	21,240	22,440

The charity has no staff other than the 4trustees all ofwhom without any form ofremuneration or other benefit in cash or The charity did not meet any expenses (2022:gnil) incurred o the charity. Tangible fixed assets	give freely oftheir time and expertise kind (2022:gnil). by the trustees for services provided
	Plant and
	machinery
Cost
At 1July 2022 and 30June 2023	26,202
Depreciation At 1 July 2022 Charge for the year	17,948 2,063
At 30June 2023	20,011
Carrying amount At 30June 2023	6,191
At 30June 2022	8,254

Investments
	Listed	Investment
~Grou	investments	properties	Total
	f.
Cost orvaluation
At I July 2022 Additions	495,134	42,517,887 1,442,251	43,013,021 1,442,251
Fair value movements	56,750		56,750
At 30June 2023	551,884	43,960,138	44,512,022
Impairment
At 1July 2022 and 30 June 2023
Carrying amount At 30June 2023	551,884	43,960,138	44,512,022
At 30June 2022	495,134	42,517,887	43,013,021
All investments shown above are held at valuation.
Financial assets held at fair value

The historical cost of the investment properties f15,505,696).	at 30a June 2023 is f16,94	7,947 (2022:
	Subsidiary
Charith	Undertaking investments	Total
Cost or valuation At I July 2022	33,160,549	33,160,549
Additions
Disposals Fair value movements	(1,167,728)	(1,167,728)
At 30June 2023	31,992,821	31,992,821
Impairment
At IJuly 2022 and 30June 2023
Carrying amount At 30June 2023	31,992,821	31,992,821
At 30June 2022	33,160,549	33,160,549

e Subsidia	ry Underta	king investm	ents held at 30s Jun	e 2023 are:
			Description	dtr 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%

		~Com an Turnover	E~dm	i' B iiL
		Number
Altena Estates Limited		01042867	(2,572)	(2,572)
Barryvale Limited Fleetguild Limited		03584191 02787962 1,550,867 1,893,404	(542,685) (1,000,699)	1,008,182 892,705
Hiltshore Limited		02788553
Mirette Investments	Limited	01024660 714,560	(549,873)	164,687
		Fixed Assets Current Assets ~Lia k5 '	~l ~Labgtties	~ tA i
Altena Estates Limited Barryvale Limited Fleetguild Limited Hiltshore Limited Mirette Investments Limited		1,201,272 13,468,319 20,654, 174 100 9,194,448 1,033,068 986,151 842,077 5,747 5,502,380 (944,629) (5,458,821) (2,077,782) (11,995) (758,487)	(1,807,475) (3,228,316) (6,607,411)	1,289,711 7,188,174 16,190,153 (6,148) 7,330,930

19.	Debtors
					2023	2022
	Trade debtors				1,273,386	1,247,936
	Prepayments Other debtors	and accrued income			56,062 522,818	27,202 412,790
					1,852,266	1,687,928
20.	Creditors: amounts		falling due within	one year
	Group				2023	2022
	Bank loans and overdrafls				88,518	402,451
	Accruals and	deferred income			384,675	157,813
	Social security and other taxes Other creditors				1,284 2,576,650	2,586 1,809,690
					3,051,127	2,372,540
	Charity				2023	2022
	Accruals and	deferred income			10,812	18,312
	Other creditors				28,755	28,755
					39,567	47,067

Creditors	: amounts	falling due after more than one year
			2023	2022
Bank loans and overdrafts			4,771,557	4,793,388
Analysis	ofloans		2023	2022
Not wholly repayable within five years other than by instalments Wholly repayable within five years			4,417,557 442,518	4,153,110 1,042,729
			4,860,075	5,195,839
Included	in current	liabilities	(88,518)	(402,451)
			4,771,557	4,793,388

Analysis of c	haritable	funds
Unrestricted	funds
		At			Fair value	At
Group		I July 2022	Income	Expenditure	movements f.	30June 2023
General funds		33,155,340	4,229,163	(5,485,238)	56,750	31,956,015
		At			Fair value	At
		1 July 2021	Income	Expenditure	movements f.	30June 2022 f.
General funds		33,722,842	3,990,531	(4,402,991)	(155,042)	33,155,340
Unrestricted	funds
		At			Fair value	At
Charity		1 July 2022	Income	Expenditure	movements	30June 2023
General funds		33,155,440	1,600,500	(1,632,097)	(1,167,728)	31,956,115
		At			Fair value	At
		1 July 2021	Income	Expenditure	movements	30June 2022
General funds		33,722,942	2,118,435	(2,080,114)	(605,823)	33,155,440

			Unrestricted		Total Funds
			Funds		2023
Tangible fixed assets Investments			6,191		6,191
Current assets			44,512,022		44,512,022
Creditors less than I year Creditors greater than I year Provisions			2,132,131 (3,051,127) (4,771,557)		2,132,131 (3,051,127) (4,771,557)
Net assets			(6,871,645)		(6,871,6451
			31,956,015		31,956,015
			Unrestricted		Total Funds
			Funds		2022
Tangible fixed assets Investments			8,254		8,254
Current assets Creditors less than I year Creditors greater than I year Provisions Net assets			43,013,021 2,511,408 (2,372,540) (4,793,388) (5,211,415) 33,155,340		43,013,021 2,511,408 (2,372,540) (4,793,388) (5,211,415) 33,155,340
Analysis ofchanges in net	debt
					At
		At I Jul 2022	Cash flows	30Jun 2023
Cash at bank and in hand Bank overdrafls		823,480	(543,615)		279,865
Debt due within one year Debt due after one year		(402,451) (4,793,388)	(18) 313,951 21 831		(18) (88,500) (4771 557)
		(4,372,359)	(207851)		(4580210)
Analysis ofcash and cash equivalents
			2023		2022
Cash at bank and in hand Overdrafl facility repayable on demand Total cash and cash equivalents			279,865 (18) 279,847		823,480 (-) 823,480