IRIS Accounts Production v24.3.0.553 Other Company accounts True false Pounds 1.1.23 31.12.23 31.12.23 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false true 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh063035412022-12-31063035412023-12-31063035412023-01-012023-12-31063035412021-12-31063035412022-01-012022-12-31063035412022-12-3106303541ns0:CharitableCompanyLimitedByGuarantee2023-01-012023-12-3106303541ns15:PoundSterling2023-01-012023-12-3106303541ns11:FRS1022023-01-012023-12-3106303541ns11:IndependentExaminationCharity2023-01-012023-12-3106303541ns11:SmallCompaniesRegimeForAccounts2023-01-012023-12-3106303541ns11:FullAccounts2023-01-012023-12-3106303541ns11:CharitiesSORP2023-01-012023-12-3106303541ns16:EnglandWales2023-01-012023-12-3106303541ns11:RegisteredOffice2023-01-012023-12-3106303541ns0:Trustee12023-01-012023-12-3106303541ns0:Trustee22023-01-012023-12-3106303541ns0:Trustee32023-01-012023-12-3106303541ns11:CompanySecretary12023-01-012023-12-3106303541ns0:Activity82023-01-012023-12-3106303541ns0:Activity82022-01-012022-12-3106303541ns0:Activity92023-01-012023-12-3106303541ns0:Activity92022-01-012022-12-3106303541ns0:Activity102023-01-012023-12-3106303541ns0:Activity102022-01-012022-12-3106303541ns0:Activity112023-01-012023-12-3106303541ns0:Activity112022-01-012022-12-3106303541ns10:WithinOneYear2023-12-3106303541ns10:WithinOneYear2022-12-3106303541ns0:TotalUnrestrictedFunds2023-12-310630354122023-01-012023-12-310630354132023-01-012023-12-3106303541ns10:CostValuationns10:ListedExchangeTraded2022-12-3106303541ns10:DisposalsRepaymentsInvestmentsns10:ListedExchangeTraded2023-12-3106303541ns10:RevaluationsIncreaseDecreaseInInvestmentsns10:ListedExchangeTraded2023-12-3106303541ns10:CostValuationns10:ListedExchangeTraded2023-12-31
REGISTERED COMPANY NUMBER: 06303541 (England and Wales)
REGISTERED CHARITY NUMBER: 1121469














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

HASDEI AVOT CHARITABLE TRUST

HASDEI AVOT CHARITABLE TRUST

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Report of the Trustees 1 to 3

Independent Examiner's Report 4

Statement of Financial Activities 5

Statement of Financial Position 6 to 7

Statement of Cash Flows 8

Notes to the Statement of Cash Flows 9

Notes to the Financial Statements 10 to 16

HASDEI AVOT CHARITABLE TRUST (REGISTERED NUMBER: 06303541)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2023



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2023. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity is constituted as a company limited by guarantee, and is therefore governed by a Memorandum and Articles of Association. The Charity is registered with the Charity Commission.

The Charity's object and its principal activities must be:
To provide grants and donations for individuals or such charitable associations, bodies and organizations, for the purpose of advancing education, relieving poverty, sickness and the needs of the elderly and disabled, as the trustees in their absolute discretion must think fit.

Public benefit
The trustees have carefully considered the public benefit requirements and their duty to ensure that they are compliant with them. They feel that the activities as detailed below, must more than adequately, satisfy the public benefit requirement.

The trustees must continue to operate within the confines of the charity objectives namely in the respect of the providing grants and donations to individuals or such charitable organizations for the advancement of education, relief of poverty, sickness and the need of the elderly and disabled.

The charity must provide grants to a broad section of the community and grant applications must be vetted carefully. Where the grants are given, the trustees must follow it through to ensure that the grants are used for the purposes for which they are needed.

The trustees are of the opinion that the following through of these grants ensure that the aims and objects of the charity is met.

ACHIEVEMENT AND PERFORMANCE
The Trustees consider the performance of the Charity during the period to be satisfactory, and note that more voluntary donations have been received during the year to support the objective of the charity.

FINANCIAL REVIEW
Financial position
The Statement of Financial Activities shows a net surplus for the year of £123,540 (2022: £805,,658 deficit).The reserves fund as at 31st December 2023 was £1,159,488 ( 2022: £1,035,948).

Included in the above reserve figure is an unrealised gain of £338,758 on equity investment.


HASDEI AVOT CHARITABLE TRUST (REGISTERED NUMBER: 06303541)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2023


FINANCIAL REVIEW
Reserves policy
The charity's reserves policy is to maintain sufficient reserves to enable the charity to continue its activities and services at a meaningful level, should there be a drop in income. As all income is derived from voluntary donations, the trustees review this position on a regular basis.

In view of this the trustees aim to maintain a level of reserves sufficient to meet three months basic
operating costs.

Having regard to the above the Trustees are of the opinion that the cash reserves held as at the year end would be sufficient to meet three months basic operating costs and, they intend to increase the reserves held in the forthcoming year.

The cash reserves stood at £10,501 as at 31st December 2023 (2022: £54,787).

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.

The trustees have prepared cash flow forecasts and profit projections which demonstrate the charity can continue as a going concern.

FUTURE PLANS
We are confident that our supporters will provide us with contributions at a level to support the objects of the charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees
All Directors of the company are also Trustees of the charity. All of the Trustees named on page 1 served throughout the year. The Board has the power to appoint additional Trustees as it considers fit to do so.

Organisational structure
The Charity is organized so that the Directors and Trustees must meet regularly to manage its affairs. There are two part time administrators, who manage the day to day administration of the Charity.

Risk management
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, must provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06303541 (England and Wales)

Registered Charity number
1121469


HASDEI AVOT CHARITABLE TRUST (REGISTERED NUMBER: 06303541)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2023


Registered office
923 Finchley Road
Golders Green
London
NW11 7PE

Trustees
M G Abadi Director and Trustee
D P Lyons Director and Trustee
F Resnik De Abadi Director and Trustee

Company Secretary
Mrs F Resnik De Abadi

Independent Examiner
Akiva Kahan FCA
Joseph Kahan Associates LLP
Chartered Accountants
923 Finchley Road
London
NW11 7PE

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 16th October 2024 and signed on its behalf by:





M G Abadi - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
HASDEI AVOT CHARITABLE TRUST


Independent examiner's report to the trustees of Hasdei Avot Charitable Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2023.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.








Akiva Kahan FCA
The Institute of Chartered Accountants in England and Wales

Joseph Kahan Associates LLP
Chartered Accountants
923 Finchley Road
London
NW11 7PE

Date: October 2024

HASDEI AVOT CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31ST DECEMBER 2023

2023 2022
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 261,230 301,130

Investment income 3 12,143 16,856
Total 273,373 317,986

EXPENDITURE ON
Charitable activities 4
Charitable donations and associated costs 484,162 478,270
Net Foreign exchange loss/gain (701 ) (126,955 )
Finance costs 709 373
Accountancy, professional and legal fees 4,421 4,710
Total 488,591 356,398

Net gains/(losses) on investments 338,758 (767,246 )

NET INCOME/(EXPENDITURE) 123,540 (805,658 )


RECONCILIATION OF FUNDS
Total funds brought forward 1,035,948 1,841,606

TOTAL FUNDS CARRIED FORWARD 1,159,488 1,035,948

HASDEI AVOT CHARITABLE TRUST (REGISTERED NUMBER: 06303541)

STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2023

2023 2022
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Investments 9 1,134,747 967,563

CURRENT ASSETS
Debtors 10 19,950 19,950
Cash at bank 10,501 54,787
30,451 74,737

CREDITORS
Amounts falling due within one year 11 (5,710 ) (6,352 )

NET CURRENT ASSETS 24,741 68,385

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,159,488

1,035,948

NET ASSETS 1,159,488 1,035,948
FUNDS 12
Unrestricted funds 1,159,488 1,035,948
TOTAL FUNDS 1,159,488 1,035,948

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


HASDEI AVOT CHARITABLE TRUST (REGISTERED NUMBER: 06303541)

STATEMENT OF FINANCIAL POSITION - continued
31ST DECEMBER 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 16th October 2024 and were signed on its behalf by:





M G Abadi - Trustee

HASDEI AVOT CHARITABLE TRUST

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31ST DECEMBER 2023

2023 2022
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 (583,009 ) 555,431
Net cash (used in)/provided by operating activities (583,009 ) 555,431

Cash flows from investing activities
Sale of fixed asset investments 526,580 (575,963 )
Interest received 6,020 7,318
Dividends received 6,123 9,538
Net cash provided by/(used in) investing activities 538,723 (559,107 )

Change in cash and cash equivalents in
the reporting period

(44,286

)

(3,676

)
Cash and cash equivalents at the
beginning of the reporting period

54,787

58,463
Cash and cash equivalents at the end of
the reporting period

10,501

54,787

HASDEI AVOT CHARITABLE TRUST

NOTES TO THE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM
OPERATING ACTIVITIES
2023 2022
£    £   
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)

123,540

(805,658

)
Adjustments for:
(Gain)/losses on investments (338,758 ) 767,246
Interest received (6,020 ) (7,318 )
Dividends received (6,123 ) (9,538 )
Unrealized loss/ (gain) (355,006 ) 610,219
(Decrease)/increase in creditors (642 ) 480
Net cash (used in)/provided by operations (583,009 ) 555,431


2. ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/23 Cash flow At 31/12/23
£    £    £   
Net cash
Cash at bank 54,787 (44,286 ) 10,501
54,787 (44,286 ) 10,501
Total 54,787 (44,286 ) 10,501

HASDEI AVOT CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. LEGAL STATUS OF THE CHARITY

The Charity is established by a declaration of Trust dated 5th July 2007, as amended by special resolution dated 10th October 2007, a certificate of incorporation on change of name of 19th December 2007, was amended on 5th December 2017.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income
All income must be recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities must be recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits must be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Financial instruments
The Charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.


HASDEI AVOT CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. INVESTMENT INCOME
2023 2022
£    £   
Other fixed asset invest - FII 6,123 9,538
Interest Receivable 6,020 7,318
12,143 16,856


HASDEI AVOT CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


4. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
Direct (see note costs (see
Costs 5) note 6) Totals
£    £    £    £   
Charitable donations and associated
costs

270

483,892

-

484,162
Net Foreign exchange loss/gain - - (701 ) (701 )
Finance costs - - 709 709
Accountancy, professional and legal
fees

-

-

4,421

4,421
270 483,892 4,429 488,591

5. GRANTS PAYABLE
2023 2022
£    £   
Charitable donations and associated costs 483,892 478,000
The total grants paid to institutions during the year was as follows:
2023 2022
£    £   
Grants to institutions 471,119 476,800


The total grants paid to individuals during the year was as follows:
2023 2022
£    £   
Grants to Individuals 12,773 1,200

6. SUPPORT COSTS
Governance
Finance costs Totals
£    £    £   
Net Foreign exchange loss/gain (701 ) - (701 )
Finance costs 709 - 709
Accountancy, professional and legal fees - 4,421 4,421
8 4,421 4,429

HASDEI AVOT CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023



7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st December 2023 nor for the year ended 31st December 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31st December 2023 nor for the year ended 31st December 2022.


8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 301,130

Investment income 16,856
Total 317,986

EXPENDITURE ON
Charitable activities
Charitable donations and associated costs 478,270
Net Foreign exchange loss/gain (126,955 )
Finance costs 373
Accountancy, professional and legal fees 4,710
Total 356,398

Net gains/(losses) on investments (767,246 )

NET INCOME/(EXPENDITURE) (805,658 )


RECONCILIATION OF FUNDS
Total funds brought forward 1,841,606

TOTAL FUNDS CARRIED FORWARD 1,035,948


HASDEI AVOT CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


9. FIXED ASSET INVESTMENTS
Listed
investments
£   
MARKET VALUE
At 1st January 2023 967,563
Disposals (187,822 )
Unrealized gain /(loss) 355,006
At 31st December 2023 1,134,747
NET BOOK VALUE
At 31st December 2023 1,134,747
At 31st December 2022 967,563

The fixed asset investment are listed Ordinary Securities . The market value of the investment as at 31/12/23 was £967,563 (2022 : £1,769,065).


10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 19,950 19,950

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 2,050 2,872
Accruals and deferred income 3,660 3,480
5,710 6,352

12. MOVEMENT IN FUNDS
Net
movement At
At 1/1/23 in funds 31/12/23
£    £    £   
Unrestricted funds
General fund 1,035,948 123,540 1,159,488

TOTAL FUNDS 1,035,948 123,540 1,159,488

HASDEI AVOT CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


12. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 273,373 (488,591 ) 338,758 123,540

TOTAL FUNDS 273,373 (488,591 ) 338,758 123,540


Comparatives for movement in funds

Net
movement At
At 1/1/22 in funds 31/12/22
£    £    £   
Unrestricted funds
General fund 1,841,606 (805,658 ) 1,035,948

TOTAL FUNDS 1,841,606 (805,658 ) 1,035,948

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 317,986 (356,398 ) (767,246 ) (805,658 )

TOTAL FUNDS 317,986 (356,398 ) (767,246 ) (805,658 )

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1/1/22 in funds 31/12/23
£    £    £   
Unrestricted funds
General fund 1,841,606 (682,118 ) 1,159,488

TOTAL FUNDS 1,841,606 (682,118 ) 1,159,488

HASDEI AVOT CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 591,359 (844,989 ) (428,488 ) (682,118 )

TOTAL FUNDS 591,359 (844,989 ) (428,488 ) (682,118 )

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st December 2023.

14. TRANSACTIONS WITH DIRECTORS AND TRUSTEES

Other creditors totalling £2,050 (2022 : £2,872) is a loan given by Gems Advisors Limited, a company in which Mr Abadi is a director, to Hasdei Avot Charitable Trust and was still owed at the end of the year.