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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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|Reference|and adm|inistrative
|inistrative
|details||||
|---|---|---|---|---|---|---|---|
|Registered|charity|name||Forty Limited||||
|Charity registration||number||1039036||||
|Company|registration||number|02884621||||
|Principal office and||registered||103High Street||||
|office||||Waltham
Cross||||
|||||ENB 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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||||||2022|2022|2021|
|---|---|---|---|---|---|---|---|
||||||Unrestricted|||
||||||funds|Total funds|Total funds|
|||||Note|5|F|F|
|Income and endowments||||||||
|Donations
and legacies||||5|495,953|495,953|751,771|
|Other trading
activities||||6|969,165|969,165|925,467|
|Tote I income|||||1,465,118|1,465,118|1,677,238|
|Expenditure||||||||
|Expenditure
on raising funds:||||||||
|Costs ofother trading|activities|||7|8,790|8,790|46,707|
|Expenditure
on charitable|activities|||8,9|1,452,858|1,452,858|1,191,482|
|Total expenditure|||||1,461,648|1,461,648|1,238,189|
|Net income and net movement||in funds|||3,470|3,470|439,049|
|Reconciliation
offunds||||||||
|Total funds brought
forward as||previously|reported||10,454,580|10,454,580|9,070,109|
|Prior year adjustment|||||||945,422|
|Total funds brought
forward as restated|||||10,454,580|10,454,580|10,015,531|
|Total funds carried forward|||||10,458,050|10,458,050|10,454,580|
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||||||2022|2021|
|---|---|---|---|---|---|---|
|||||Note|F||
|Fixed assets|||||||
|Tangible fixed assets||||13|43,470|47,502|
|Investments||||14|11,635,071|11,593,021|
||||||11,678,541|11,640,523|
|Current assets|||||||
|Debtors||||15|163,313|84,581|
|Cash at bank and in|hand||||3,305|5,576|
||||||166,618|90,157|
|Creditors: amounts||falling|due within one year|16|148,067|466,733|
|Net current assets|||||18,551|(376,576)|
|Total assets less current|||liabilities||11,697,092|11,263,947|
|Creditors: amounts|falling||due after more than one year|17|1,239,042|809,367|
|Net assets|||||10,458,050|10,454,580|
|Funds ofthe charity|||||||
|Unrestricted
funds:|||||||
|Revaluation
reserve|||||5,916,489|5,916,489|
|Other unrestncted||income funds|||4 541 561|4,538,091|
|Total unrestricted
funds|||||10,458,050|10,454,580|
|Total charity funds||||18|10,458,050|10,454,580|
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|Year ended 31August|2022||||
|---|---|---|---|---|
||||2022
f|2021|
|Cash flows from operating|activities||||
|Net income|||277,470|439,049|
|Adjustments
for:|||||
|Depreciation
oftangible
fixed assets|||4,830|5,278|
|Interest payable
and similar|charges||48,010|17,763|
|Accrued expenses/(income)|||1,780|(2,140)|
|Other operating
cash flow adjustment||||(47,041)|
|Changesin:|||||
|Trade and other debtors|||(352,732)|(46,161)|
|Trade and other creditors|||(270,377)|(144,536)|
|Cash generated
from operations|||(291,019)|222,212|
|Interest paid|||(48,010)|(17,763)|
|Net cash (used in)/from
operating
activities|||(339,029)|204,449|
|Cash flows from investing|activities||||
|Purchase
oftangible assets|||(798)||
|Purchases
of other investments|||(42,050)|(128,536)|
|Net cash used
in investing
activities|||(42,848)|(128,536)|
|Cash flows from financing|activities||||
|Proceeds from borrowings|||379,606|(65,360)|
|Net cash from/(used
in) financing
activities|||379,606|(65,360)|
|Net (decrease)/increase
in
Cash and cash equivalents|cash and cash
at beginning|equivalents
ofyear|(2,271)
5,576|10,553
(4,977)|
|Cash and cash equivalents|at end ofyear||3,305|5,576|
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|||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|---|---|---|---|---|---|---|---|---|---|
|||||||Funds|2022|Funds|2021|
|||||||6|E||6|
|Donations||||||||||
|Donations||and|Gifts|||495,953|495,953|751,771|751,771|
|Other|trading||activities|||||||
|||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||||||Funds|2022|Funds|2021|
||||||||E|f|f|
|Rental|income||on investment||property|||||
|- non operating||||||969,165|969,165|925,467|925,467|
|Costs|ofother||trading|activities||||||
|||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||||||Funds
6|2022|Funds
f|2021
6|
|Costs|ofother||trading|activities|- Other|||||
|activity|1|||||8,790|8,790|46,707|46,707|
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|Expenditur|e
on charitable
a|ctivities
by fund type||||
|---|---|---|---|---|---|
|||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||Funds|2022|Funds|2021|
|||5||6|E|
|Charitable|activities|1,444,578|1,444,578|1,184,982|1,184,982|
|Support costs||8,280|8,280|6,500|6,500|
|||1,452,858|1,452,858|1,191,482|1,191,482|
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||||Activities|||||
|---|---|---|---|---|---|---|---|
||||undertaken|Grant funding|Support|Total funds|Total fund|
||||directly|ofactivities|costs|2022|2021|
||||E|E||6|E|
|Charitable|activities||1,407,078|37,500||1,444,578|1,184,982|
|Governance||costs|||8,280|8,280|6,500|
||||1,407,078|37,500|8,280|1,452,858|1,191,482|
|Analysis|of|grants||||||
|||||||2022|2021|
|||||||6|6|
|Grants to|institutions|||||||
|Grants to|institutions|||||37,500|292,608|
|Total grants||||||37,500|292,608|
|Auditors|remuneration|||||||
|||||||2022|2021|
|||||||E|f|
|Fees payable||for the audit|ofthe financial statements|||8,280|6,500|
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|There were no trustees'
remuneration
or other benefit
Tangible fixed assets|s for the year ended 31August 2022.|
|---|---|
||Plant and|
||machinery|
|Cost||
|At 1 September 2021|143,485|
|Additions|798|
|At 31 August 2022|144,283|
|Depreciation||
|At 1 September
2021|95,983|
|Charge for the year|4,830|
|At 31August 2022|100,813|
|Carrying
amount||
|At 31August 2022|43,470|
|At 31 August 2021|47,502|
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|Investments||
|---|---|
||Investment|
||properties
f|
|Cost or valuation||
|At 1 September 2021|11,593,021|
|Additions|42,050|
|At 31August 2022|11,635,071|
|Impairment||
|At 1 September 2021 and 31 August 2022||
|Carrying
amount||
|At 31August 2022|11,635,071|
|At 31August 2021|11,593,021|
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|Debtors|||||
|---|---|---|---|---|
||||2022|2021|
||||f||
|Trade debtors|||21,313|9,581|
|Amounts
owed by connected||company|142,000|75,000|
||||163,313|84,581|
|Creditors: amounts|falling due within one year||||
||||2022
f|2021|
|Bank loans and overdraffs|||53,698|103,767|
|Trade creditors|||46,745|21,592|
|Accruals and deferred|income||8,280|6,500|
|Other creditors|||39,344|334,874|
||||148,067|466,733|
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|Credi|tors:|amo|unts
falling due after more than|one year||
|---|---|---|---|---|---|
|||||2022|2021|
|Bank|loans|and|overdrafts|1,239,042|809,367|
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|||||At||||At|
|---|---|---|---|---|---|---|---|---|
|||||1 September|||Prior year|31August
2|
|||||2021|Income|Expenditure|adjustments|022|
|||||F|F||F|8|
|General|funds|||4,538,091|1,465,118|(1,461,648)||4,815,561|
|Revaluation||reserve||5,916,489||||5,916,489|
|||||10,454,580|1,465,118|(1,461,648)||10,458,050|
|||||At||||At|
|||||1 September|||Prior year|31August 20|
|||||2020
6|Income
6|Expenditure
8|adjustments
F|21
6|
|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|
|Analysis of||net assets between funds|||||||
||||||||Unrestricted|Total Funds|
||||||||Funds|2022|
|||||||||6|
|Tangible|fixed assets||||||11,678,541|11,678,541|
|Current|assets||||||166,618|166,618|
|Creditors less than|||1|year|||(148,067)|(148,067)|
|Creditors greater than||||1 year|||(1,239,042)|(1,239,042)|
|Net assets|||||||10,458,050|10,458,050|
||||||||Unrestricted|Total Funds|
||||||||Funds|2021|
||||||||6||
|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|
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|Anal|ysis ofchang|es
in net debt||||
|---|---|---|---|---|---|
||||At||At|
||||1 Sep 2021|Cash flows|31 Aug 2022|
||||||6|
|Cash|at bank and|in hand|5,576|(2,271)|3,305|
|Debt|due within one year||(103,767)|50,069|(53,698)|
|Debt|due after one|year|(809,367)|(429,675)|(1,239,042)|
||||(907,558)|(381,877)|(1,289,435)|
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