2023-08-31-accounts - Forty Limited

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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	of financial	position
Statement	ofcash flows						12
Notes to the financial		statements					13

				2023	2023	2022
				Unrestricted
				funds	Total funds	Total funds
			Note	8		8
Income and endowments
Donations and legacies			5	811,470	811,470	495,953
Charitable activities			6	12,000	12,000
Other trading activities			7	960,000	960,000	969,165
Total income				1,783,470	1,783,470	1,465,118
Expenditure
Expenditure on raising funds:
Costs ofother trading	activities		8	56,876	56,876	8,790
Expenditure on charitable	activities		9,10	1,369,433	1,369,433	1,452,858
Total expenditure				1,426,309	1,426,309	1,461,648
Net income and net movement		in funds		357,161	357,161	3,470
Reconciliation offunds
Total funds brought forward				10,458,050	10,458,050	10,454,580
Total funds carried forward				10,815,211	10,815,211	10,458,050

			Note	2023 f	2022
Fixed assets
Tangible fixed assets			14		43,470
Investments			15	11,655,371	11,635,071
				11,655,371	11,678,541
Current assets
Debtors			16	455,200	163,313
Cash at bank and in	hand			14,895	3,305
				470,095	166,618
Creditors: amounts	falling due within one year		17	160,059	148,067
Net current assets				310,036	18,551
Total assets less current liabilities				11,965,407	11,697,092
Creditors: amounts	falling due after more than one year		18	1,150,196	1,239,042
Net assets				10,815,211	10,458,050
Funds ofthe charity
Unrestricted funds:
Revaluation reserve				5,916,489	5,916,489
Other unrestricted		income funds		4,898,722	4,541,561
Total unrestricted funds				10,815,211	10,458,050
Total charity funds			19	10,815,211	10,458,050

Company Limited by Guarantee Statement ofCash Flows Year ended 31August 2023
		2023	2022 f
Cash flows from operating activities
Net income		357,161	3,470
Adjustments for:
Depreciation oftangible fixed assets			4,830
Interest payable and similar charges		87,979	48,010
Accrued expenses			1,780
Changesin:
Trade and other debtors Trade and other creditors		(291,887) (49,571)	(78,732) (270,377)
Cash generated from operations		103,682	(291,019)
Interest paid		(87,979)	(48,010)
Net cash from/(used in) operating activities		15,703	(339,029)
Cash flows from investing activities
Purchase oftangible assets Proceeds from sale oftangible assets		43,470	(798)
Purchases ofother investments		(20,300)	(42,050)
Net cash from/(used in) investing activities		23,170	(42,848)
Cash flows from financing activities
Proceeds from borrowings		(27,283)	379,606
Net cash (used in)/from financing activities		(27,283)	379,606
Net increase/(decrease) in cash and cash Cash and cash equivalents at beginning	equivalents ofyear	11,590 3,305	(2,271) 5,576
Cash and cash equivalents at end ofyear		14,895	3,305

Expenditu	re	on charitable ac	tivities by activity type
			Activities
			undertaken	Support	Total funds	Total fund
			directly	costs	2023	2022
			6	E
Charitable	activities		1,361,153		1,361,153	1,444,578
Governance		costs		8,280	8,280	8,280
			1,361,153	8,280	1,369,433	1,452,858

11.	Analysis	of	grants
					2023	2022
						6
	Grants to	institutions
	Grants to	institutions		type		37,500
	Total grants					37,500
12.	Auditors	remuneration
					2023	2022
						8
	Fees payable		for the	audit ofthe financial statements	8,280	8,280

Debtors
		2023 f	2022
Trade debtors		455,200	21,313
Amounts owed by connected company			142,000
		455,200	163,313
Creditors: amounts	falling due within one year
		2023	2022
		6	6
Bank loans and overdraRs		115,261	53,698
Trade creditors		36,518	46,745
Accruals and deferred	income	8,280	8,280
Other creditors			39,344
		160,059	148,067
Creditors: amounts	falling due after more than one year
		2023	2022
		6	6
Bank loans and overdrafts		1,150,196	1,239,042

Analysis	of net as	se	ts between funds
				Unrestricted	Total Funds
				Funds	2023
					8
Tangible	fixed assets			11,655,371	11,655,371
Current	assets			470,095	470,095
Creditors	less than	1	year	(160,059)	(160,059)
Creditors	greater than		1 year	(1,150,196)	(1,150,196)
Net assets				10,815,211	10,815,211
				Unrestricted	Total Funds
				Funds f	2022
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