Charity number: 313635
THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022
THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
| CONTENTS | |
|---|---|
| Page | |
| Reference and administrative details of the charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 17 |
THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2022
| Trustees | Mr S Dangoor |
|---|---|
| Mrs S Kendal | |
| Mrs R Khalastchy | |
| Ms N Leon | |
| Ms J Samuel, Chair | |
| Mr A Webber | |
| Charity registered number 313635 Principal office 2 Ashworth Road London W9 1JY Independent Examiner Ian Saunderson FCA BKL Audit LLP 35 Ballards Lane London N3 1XW Bankers NatWest Bank City of London Office London EC2R 8PA |
Page 1
THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2022
The Trustees present their annual report together with the financial statements of the charity for the 1 November 2021 to 31 October 2022.
Objectives and activities
a. Policies and objectives
The object of the Trust is to provide grants for specified purposes to children or young people not more than 25 years of age who are Sephardi Jews or persons accustomed to congregate with them who are, in the opinion of the Trustees, in need of financial assistance.
The exception being the David Mellows fund which provides scholarships for Ashkenazi students of Jewish studies or social work
b. Activities undertaken to achieve objectives
The Charity undertakes to give grants in line with its governing document to Jewish young people in need.
c. Grant-making policies
The Trustees receive applications from individuals and institutions. These are reviewed by the Trustees throughout the year in relation to the chartable objectives and appropriate grants are approved by the Trustees.
d. Main activities undertaken to further the charity's purposes for the public benefit
The activity of grant making to those Jewish children and Jewish young people in need further the Charity's purpose for the public benefit.
Achievements and performance
a. Main achievements of the charity
The Childrens Fund disbursed 3 grants in 2022 compared to 23 in 2021. These grants fund personal items, scholarships, holiday camps, amongst other things.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
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THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022
b. Reserves policy
The charity aims to expend all incoming resources in the form of grants payable to various individuals and institutional beneficiaries. This is dependent upon the level of applications received for funding and also the level of investment income in the year. The Trustees will utilise reserves when suitable grant applications are received in future periods. On this basis, and due to the fact that there are very few overhead costs, there is no fixed level set for free reserves. This reserves policy will be reviewed on an annual basis.
The Trust holds investments in the name of the Spanish and Portuguese Jews' Synagogue Common Investment Fund (also known as The London Sephardi Trust Investment Pool) as custodian trustee. Income earned on these investments in the principal source of funding for the Charity.
c. Review of the Year
Total income for the year was £40,075 (2021 : £40,905), of which £72 (2021: £Nil) was from donations and legacies and £40,003 (2021: £40,905) was derived from the common investment fund. Expenditure for the year totalled £8,393 (2021 : £23,545), of which £4,464 pertained to grants and £3,929 pertained to support costs. There was a loss on investments of £188,486 (2021: Gain of £331,803). Funds carried forward at the year end totalled £1,938,536 (2021 : £2,095,340). All funds, income, expenditure, gains and losses related to unrestricted funds.
Structure, governance and management
a. Constitution
The Spanish And Portuguese Jews' Children's Fund is a registered charity, number 313635, governed by a Trust deed and whose governing document is a scheme dated 22 May 1964.
b. Methods of appointment or election of Trustees
Trustees are currently recruited both by word of mouth and also by advertising vacancies among the membership of the Spanish & Portuguese Jews' Congregation. Such advertising is conducted in accordance with the Constitution, with any nominations needing to be appropriately seconded and transmitted to the Secretary. Trustees may be appointed directly by election or co-option to fulfil a casual vacancy. New trustees are generally furnished with minutes of recent meetings and invited to observe one or two meetings prior to taking office. They are encouraged to discuss matters with the Trustees and/or the Secretary to familiarise themselves with the workings of the Charity.
c. Financial risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Plans for future periods
The Trust shall continue to make grants in line with its charitable objectives.
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THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ Ms N Leon (Trustee) Date: 17/08/2023
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THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2022
Independent examiner's report to the Trustees of The Spanish And Portuguese Jews' Children's Fund ('the charity')
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 October 2022.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Ian Saunderson
Signed: Dated: 17/08/2023
Ian Saunderson FCA
BKL Audit LLP 35 Ballards Lane London N3 1XW
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THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022
| Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Charitable activities Total expenditure Net income before net (losses)/gains on investments Net (losses)/gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2022 £ - 1,988 1,988 - - 1,988 (9,368) (7,380) 104,137 (7,380) 96,757 |
Unrestricted funds 2022 £ 72 38,015 38,087 8,393 8,393 29,694 (179,118) (149,424) 1,991,203 (149,424) 1,841,779 |
Total funds 2022 £ 72 40,003 40,075 8,393 8,393 31,682 (188,486) (156,804) 2,095,340 (156,804) 1,938,536 |
Total funds 2021 £ - 40,905 |
|---|---|---|---|---|
| 40,905 | ||||
| 23,545 | ||||
| 23,545 | ||||
| 17,360 331,803 |
||||
| 349,163 | ||||
| 1,746,177 349,163 |
||||
| 2,095,340 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 17 form part of these financial statements.
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THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
BALANCE SHEET AS AT 31 OCTOBER 2022
| Note Fixed assets Investments 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 12 Unrestricted funds 12 Total funds |
22,112 86,396 108,508 (3,640) |
2022 £ 1,833,668 1,833,668 104,868 1,938,536 1,938,536 96,757 1,841,779 1,938,536 |
30,987 48,544 79,531 (6,345) |
2021 £ 2,022,154 |
|---|---|---|---|---|
| 2,022,154 73,186 |
||||
| 2,095,340 | ||||
| 2,095,340 | ||||
| 104,137 1,991,203 |
||||
| 2,095,340 |
The financial statements were approved and authorised for issue by the Trustees on 17/08/2023 _______ and signed on their behalf by:
................................................
Ms N Leon
(Trustee)
The notes on pages 8 to 17 form part of these financial statements.
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THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
1. General information
The Spanish and Portuguese Jews' Children's Fund is a registered charity, operating in England and Wales.
The registered office is 2 Ashworth Road, Maida Vale, London, W9 1JY.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Spanish and Portuguese Jews' Children's Fund meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
The Charity has minimal fixed costs, with the main source of expenditure being grants made to individuals which can be made at the discretion of the Trustees. Furthermore, the Charity had a healthy cash balance at the year end. The Trustees therefore consider that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
2.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
2. Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
2. Accounting policies (continued)
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.9 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Donations | 72 | 72 | - |
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THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
4. Investment income
| Income from Common Investment Fund Income from Common Investment Fund |
Restricted funds 2022 Unrestricted funds 2022 £ £ 1,988 38,015 Restricted funds 2021 Unrestricted funds 2021 £ £ 2,010 38,895 |
Total funds 2022 £ 40,003 |
|---|---|---|
| Total funds 2021 £ 40,905 |
5. Analysis of grants
| Grants, Supporting young people Grants, Supporting young people |
Grants to Individuals 2022 £ 4,464 Grants to Individuals 2021 £ 20,025 |
Total funds 2022 £ 4,464 |
|---|---|---|
| Total funds 2021 £ 20,025 |
6. Analysis of expenditure by activities
| Grant | |||
|---|---|---|---|
| funding of | Support | Total | |
| activities | costs | funds | |
| 2022 | 2022 | 2022 | |
| £ | £ | £ | |
| Supporting young people | 4,464 | 3,929 | 8,393 |
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THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
6. Analysis of expenditure by activities (continued)
| Supporting young people Analysis of support costs Secretarial Audit & Accountancy fees Secretarial Audit & Accountancy fees |
Grant funding of activities 2021 £ 20,025 |
Support costs 2021 £ 3,520 Supporting young people 2022 £ 1,469 2,460 3,929 Supporting young people 2021 £ 1,300 2,220 3,520 |
Total funds 2021 £ 23,545 |
|---|---|---|---|
| Total funds 2022 £ 1,469 2,460 |
|||
| 3,929 | |||
| Total funds 2021 £ 1,300 2,220 |
|||
| 3,520 |
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THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
7. Independent examiner's remuneration
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Fees payable to the charity's independent examiner for the preparation and | ||
| independent examination of the charity's annual accounts | 2,460 | 2,220 |
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 31 October 2022, no Trustee expenses have been incurred (2021 - £NIL) .
9. Fixed asset investments
| Cost or valuation At 1 November 2021 Revaluations At 31 October 2022 Net book value At 31 October 2022 At 31 October 2021 |
Listed investments £ 2,022,152 (188,484) 1,833,668 1,833,668 2,022,152 |
|---|---|
10. Debtors
| Due within one year Amounts owed by Common Investment Fund |
2022 £ 22,112 22,112 |
2021 £ 30,987 |
|---|---|---|
| 30,987 |
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THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
11. Creditors: Amounts falling due within one year
| Trade creditors Accruals and deferred income |
2022 £ - 3,640 3,640 |
2021 £ 4,125 2,220 |
|---|---|---|
| 6,345 |
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THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
12. Statement of funds
Statement of funds - current year
| Balance at 1 | Balance at | |||||
|---|---|---|---|---|---|---|
| November | Gains/ | 31 October | ||||
| 2021 | Income | Expenditure | (Losses) | 2022 | ||
| £ | £ | £ | £ | £ | ||
| Unrestricted funds | ||||||
| General Funds - all funds | 1,991,203 | 38,087 | (8,393) | (179,118) | 1,841,779 | |
| Restricted funds | ||||||
| David Mellows fund | 64,576 | 1,233 | - | (5,809) | 60,000 | |
| Sahal Scholarship fund | 39,561 | 755 | - | (3,559) | 36,757 | |
| 104,137 | 1,988 | - | (9,368) | 96,757 | ||
| Total of funds | 2,095,340 | 40,075 | (8,393) | (188,486) | 1,938,536 | |
| Statement of funds - prior | year | |||||
| Balance at | Balance at | |||||
| 1 November | Gains/ | 31 October | ||||
| 2020 | Income | Expenditure | (Losses) | 2021 | ||
| £ | £ | £ | £ | £ | ||
| Unrestricted funds | ||||||
| General Funds - all funds | 1,660,357 | 38,895 | (23,545) | 315,496 | 1,991,203 | |
| Restricted funds | ||||||
| David Mellows fund | 53,217 | 1,247 | - | 10,112 | 64,576 | |
| Sahal Scholarship fund | 32,603 | 763 | - | 6,195 | 39,561 | |
| 85,820 | 2,010 | - | 16,307 | 104,137 | ||
| Total of funds | 1,746,177 | 40,905 | (23,545) | 331,803 | 2,095,340 | |
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THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
12. Statement of funds (continued)
David Mellows Fund: To provide scholarships for Ashkenazi students of Jewish studies or social work.
Sahal Scholarship Fund: To provide scholarships to any UK university for Jewish boys of Spanish and Portuguese parentage.
13. Summary of funds
Summary of funds - current year
| Balance at 1 | Balance at | ||||
|---|---|---|---|---|---|
| November | Gains/ | 31 October | |||
| 2021 | Income | Expenditure | (Losses) | 2022 | |
| £ | £ | £ | £ | £ | |
| General funds | 1,991,203 | 38,087 | (8,393) | (179,118) | 1,841,779 |
| Restricted funds | 104,137 | 1,988 | - | (9,368) | 96,757 |
| 2,095,340 | 40,075 | (8,393) | (188,486) | 1,938,536 | |
| Summary of funds - prior year | |||||
| Balance at | Balance at | ||||
| 1 November | Gains/ | 31 October | |||
| 2020 | Income | Expenditure | (Losses) | 2021 | |
| £ | £ | £ | £ | £ | |
| General funds | 1,660,357 | 38,895 | (23,545) | 315,496 | 1,991,203 |
| Restricted funds | 85,820 | 2,010 | - | 16,307 | 104,137 |
| 1,746,177 | 40,905 | (23,545) | 331,803 | 2,095,340 | |
14. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Fixed asset investments Current assets Creditors due within one year Total |
Restricted funds 2022 Unrestricted funds 2022 £ £ 96,757 1,736,911 - 108,508 - (3,640) 96,757 1,841,779 |
Total funds 2022 £ 1,833,668 108,508 (3,640) 1,938,536 |
|---|---|---|
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THE SPANISH AND PORTUGUESE JEWS' CHILDREN'S FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
14. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Fixed asset investments Current assets Creditors due within one year Total |
Restricted funds 2021 £ 104,137 - - 104,137 |
Unrestricted funds 2021 £ 1,918,017 79,531 (6,345) 1,991,203 |
Total funds 2021 £ 2,022,154 79,531 (6,345) 2,095,340 |
|---|---|---|---|
15. Related party transactions
As at 31 October 2022, The Spanish and Portuguese Jews' Children's Fund was owed £22,112 (2021: £30,987) by the Spanish and Portuguese Jews' Synagogue Common Investment Fund, also known as the London Sephardi Trust Investment Pool (an associated entity of the Spanish and Portuguese Jews' Synagogue with a common trustee), in which all investments of Spanish and Portuguese Jews' Children's Fund were held as at 31 October 2022 and 31 October 2021.
Investment income received during the year from these investments amounted to £40,003 (2021: £40,905).
At the year end, the charity owed £Nil (2021: £1,300) to Spanish and Portuguese Jews' Synagogue relating to administration fees included within trade creditors.
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