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|Trustees'
annual
report (incorporating||||the|director's|report)||
|Independent|auditor's|report to|the members|||||
|Statement|offinancial|activities|(including||income and|||
|expenditure|account)||||||10|
|Statement|offinancial|position||||||
|Statement|ofcash flows||||||12|
|Notes to the financial||statements|||||13|
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|Registered|charity|name|name|Forty Limited||||
|---|---|---|---|---|---|---|---|
|Charity registration||number||1039036||||
|Company|registration||number|02884621||||
|Principal office and||registered||103High Street||||
|office||||Waltham
Cross||||
|||||EN8 7AN||||
|||||England||||
|The trustees||||||||
|||||Mr A. Schechter||||
|||||Mr R. Spitzer||||
|||||Mr J.Gluck||||
|||||Mrs H. Gluck||||
|Company|secretary|||Avrohom
Schechter||||
|Auditor||||Brindley Goldstein|Limited|||
|||||Chartered
accountants||&statutory|auditor|
|||||103High Street||||
|||||Waltham
Cross||||
|||||Herts||||
|||||EN8 7AN||||
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||||||2021|2021|2020|
|---|---|---|---|---|---|---|---|
||||||Unrestricted|||
||||||funds|Total funds|Total funds|
|||||Note||E||
|Income and endowments||||||||
|Donations
and legacies||||5|751,771|751,771|516,063|
|Other trading
activities||||6|925,467|925,467|842,000|
|Total income|||||1,677,238|1,677,238|1,358,063|
|Expenditure||||||||
|Expenditure
on raising funds:||||||||
|Costs ofother trading|activities|||7|46,707|46,707|41,078|
|Expenditure
on charitable|activities|||8,9|1,191,482|1,191,482|774,008|
|Total expenditure|||||1,238,189|1,238,189|815,086|
|Net income and net movement||in funds|||439,049|439,049|542,977|
|Reconciliation
offunds||||||||
|Total funds brought
forward as||previously|reported||9,070,109|9,070,109|8,527,132|
|Prior year adjustment|||||945,422|945,422||
|Total funds brought forward as||restated|||10,015,531|10,015,531|8,527,132|
|Total funds carried forward|||||10,454,580|10,454,580|9,070,109|
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||||||2021|2020|
|---|---|---|---|---|---|---|
|||||Note|||
|Fixed assets|||||||
|Tangible fixed assets||||13|47,502|52,780|
|Investments||||14|11,593,021|11,464,485|
||||||11,640,523|11,517,265|
|Current assets|||||||
|Debtors||||15|84,581|38,420|
|Cash at bank and in hand|||||5,576||
||||||90,157|38,420|
|Creditors: amounts|falling due within||one year|17|466,733|1,598,182|
|Net current liabilities|||||376,576|1,559,762|
|Total assets less current liabilities|||||11,263,947|9,957,503|
|Creditom: amounts|falling due after||more than one year|18|809,367|887,394|
|Net assets|||||10,454,580|9,070,109|
|Funds ofthe charity|||||||
|Unrestricted
funds:|||||||
|Revaluation
reserve|||||5,916,489|5,916,489|
|Other unrestricted||income funds|||4,538,091|3,153,620|
|Total unrestricted
funds|||||10,454,580|9,070,109|
|Total charity funds||||19|10,454,580|9,070,109|
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|Company
Limited by Guarantee
Statement ofCash Flows
Year ended 31August 2021|||||
|---|---|---|---|---|
||||2021|2020|
|||Note||f|
|Cash flows from operating
activities|||||
|Net income|||439,049|542,977|
|Adjustments
for:|||||
|Depreciation
oftangible
fixed assets|||5,278|5,864|
|Accrued income|||(2,140)||
|Other operating
cash flow adjustment|||(47,041)||
|Changesin:|||||
|Trade and other debtors|||(46,161)|(8,420)|
|Trade and other creditors|||(144,536)|(49,873)|
|Cash generated
from operations|||204,449|490,548|
|Net cash from operating
activities|||204,449|490,548|
|Cash flows from investing
activities|||||
|Purchase oftangible assets
Purchases
ofother investments|||(128,536)|(5,604)
(428,545)|
|Net cash used
in investing
activities|||(128,536)|(434,149)|
|Cash flows from financing
activities|||||
|Proceeds from borrowings|||(65,360)|(19,442)|
|Net cash used
in financing
activities|||(65,360)|(19,442)|
|Net increase
in cash and cash equivalents|||10,553|36,957|
|Cash and cash equivalents
at beginning|ofyear||(4,977)|(41,934)|
|Cash and cash equivalents
at end ofyear||16|5,576|(4,977)|
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||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|---|---|---|---|---|---|---|---|---|
||||||Funds
f|2021
f|Funds|2020
f|
||Donations||||||||
||Donations
and Gifts||||751,771|751,771|516,063|516,063|
|6.|Other trading|activities|||||||
||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||||Funds|2021
f|Funds
F|2020
F|
||Rental income on investment|||property|||||
||- non operating||||925,467|925,467|842,000|842,000|
|7.|Costs ofother trading||activities||||||
||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||||Funds
f|2021
f|Funds
F|2020|
||Costs ofother trading||activities - Other||||||
||activity||||46,707|46,707|41,078|41,078|
|8.|Expenditure|on charitable||activities|by fund type||||
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|Expenditur|e
on charitable
a|ctivities
by fund type||||
|---|---|---|---|---|---|
|||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||Funds
f|2021
f|Funds
f|2020
f|
|Charitable|activities|1,184,982|1,184,982|770,408|770,408|
|Support costs||6,500|6,500|3,600|3,600|
|||1,191,482|1,191,482|774,008|774,008|
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|||Activities||||||
|---|---|---|---|---|---|---|---|
|||undertaken|Grant|funding|Support|Total funds|Total fund|
|||directly|of|activities|costs|2021|2020|
|||||F|E||6|
|Charitable|activities|892,374||292,608||1,184,982|770,408|
|Governance|costs||||6,500|6,500|3,600|
|||892,374||292,608|6,500|1,191,482|774,008|
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|10.|Analysis|ofgrants||||
|---|---|---|---|---|---|
|||||2021
f|2020|
||Grants to|institutions||||
||Grants to|institutions||292,608|661,578|
||Total grants|||292,608|661,578|
|11.|Auditors|remuneration||||
|||||2021|2020|
||Fees payable
for the audit ofthe financial||statements|6,500|3,600|
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|There were no trustees'
remuneration
or other benefits for the ye
Tangible fixed assets|ar ended 31August 2021.|
|---|---|
||Plant and|
||machinery|
|Cost||
|At 1 September 2020 and 31August 2021|143,485|
|Depreciation||
|At 1 September 2020|90,705|
|Charge for the year|5,278|
|At 31August 2021|95,983|
|Carrying
amount||
|At 31August 2021|47,502|
|At 31 August 2020|52,780|
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|Investments|||
|---|---|---|
|||Investment|
|||properties|
|||E|
|Cost or valuation|||
|At 1 September 2020||11,464,485|
|Additions||128,536|
|At 31August 2021||11,593,021|
|Impairment|||
|At 1 September|2020 and 31August 2021||
|Carrying
amount|||
|At 31August 2021||11,593,021|
|At 31 August 2020||11,464,485|
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|15.|balance sheet date.
Debtors||||
|---|---|---|---|---|
||||2021|2020|
||||E|E|
||Trade debtors||9,581||
||Amounts
owed by connected company||75,000||
||Other debtors|||38,420|
||||84,581|38,420|
|18.|Cash and cash equivalents||||
||Cash and cash equivalents|comprise the following:|||
||||2021|2020|
||||E|E|
||Cash at bank and in hand||5,576||
||Bank overdrafts|||(4,977)|
||||5,576|(4,977)|
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|Creditors: amounts|falling due within one year|||
|---|---|---|---|
|||2021|2020|
|||6|6|
|Bank loans and overdrafts||103,767|96,077|
|Trade creditors||21,592|92,115|
|Accruals and deferred|income|6,500|8,640|
|Other creditors||334,874|1,401,350|
|||466,733|1,598,182|
|Creditors: amounts|falling due after more than one year|||
|||2021|2020|
|||6|6|
|Bank loans and overdraRs||809,367|887,394|
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|Unrestricted|funds|||||||
|---|---|---|---|---|---|---|---|
||||At||||At|
|||1 September||||Prior year|31August 2|
||||2020|Income|Expenditure|adjustments|021|
||||8||5|F|E|
|General funds|||3,153,620|1,677,238|(1,238,189)|945,422|4,538,091|
|Revaluation|reserve||5,916,489||||5,916,489|
||||9,070,109|1,677,238|(1,238,189)|945,422|10,454,580|
||||At||||At|
|||1|September|||Prior year|31August 20|
||||2019
f|Income|Expenditure
F|adjustments|20|
|General funds|||2,610,643|1,358,063|(815,086)||3,153,620|
|Revaluation|reserve||5,916,489||||5,916,489|
||||8,527,132|1,358,063|(815,086)||9,070,109|
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|Analysis ofnet as|se|ts between funds|||
|---|---|---|---|---|
||||Unrestricted|Total Funds|
||||Funds|2021|
|||||K|
|Tangible fixed assets|||11,640,523|11,640,523|
|Current assets|||90,157|90,157|
|Creditors less than|1|year|(466,733)|(466,733)|
|Creditors greater than||1 year|(809,367)|(809,367)|
|Net assets|||10,454,580|10,454,580|
||||Unrestricted|Total Funds|
||||Funds|2020|
||||8||
|Tangible fixed assets|||11,517,265|11,517,265|
|Current assets
Creditors less than
1
Creditors greater than||year
1 year|38,420
(1,598,182)
(887,394)|38,420
(1,598,182)
(887,394)|
|Net assets|||9,070,109|9,070,109|
|Analysis ofchang|es|in net debt|||
##
|Anal|ysis ofchanges
in net debt||||
|---|---|---|---|---|
|||At||At'|
|||1 Sep 2020|Cash flows|31Aug 2021|
|Cash|at bank and in hand||5,576|5,576|
|Bank|overdrafts|(4,977)|4,977||
|Debt
Debt|due within one year
due after one year|(91,100)
(887,394)|(12,667)
78,027|(103,767)
(809,367)|
|||(983,471)|75,913|(907,558)|
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