## ## ## ||||||||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| ## ## ## ## ## ## ## ## ##