##
##
##
##
##
##
||||||||Page|
|---|---|---|---|---|---|---|---|
|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|
##
##
##
##
##
|Registered|Registered|charity|name|name|Forty Limited||||
|---|---|---|---|---|---|---|---|---|
|Charity|registration||number||1039036||||
|Company||registration||number|02884621||||
|Principal|office and||registered||103 High Street||||
|office|||||Waltham
Cross||||
||||||EN8 7AN||||
||||||England||||
|The trustees|||||||||
||||||Mr A. Schechter||||
||||||Mr R. Spitzer||||
||||||MrJ.Gluck||||
||||||Mrs H. Gluck||||
|Company||secretary|||Avrohom
Schechter||||
|Auditor|||||Brindley Goldstein|Limited|||
||||||Chartered
accountants||&statutory|auditor|
||||||103 High Street||||
||||||Waltham
Cross||||
||||||Heits||||
||||||EN8 7AN||||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||||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|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|---|---|---|---|---|---|---|---|---|
||||||Funds
f|2023
F|Funds
F|2022
E|
||Donations||||||||
||Donations||||761,470|761,470|495,953|495,953|
||Grants||||||||
||Grants||||50,000|50,000|||
||||||811,470|811,470|495,953|495,953|
|6.|Charitable|activities|||||||
||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||||Funds|2023|Funds|2022|
|||||||5|E|2|
||Other income||||12,000|12,000|||
|7.|Other trading||activities||||||
||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||||Funds|2023|Funds|2022|
||||||E|6|E|F|
||Rental income||||960,000|960,000|969,165|969,165|
|8.|Costs ofother||trading|activities|||||
||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||||Funds
E|2023|Funds
E|2022
f|
||Costs of other||trading|activities - Other|||||
||activity||||56,876|56,876|8,790|8,790|
##
##
##
##
##
|Expenditur|e
on charitable
a|ctivities
by fund type||||
|---|---|---|---|---|---|
|||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||Funds|2023|Funds|2022|
|||6||6|6|
|Charitable|activities|1,361,153|1,361,153|1,444,578|1,444,578|
|Support costs||8,280|8,280|8,280|8,280|
|||1,369,433|1,369,433|1,452,858|1,452,858|
##
|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|
##
##
##
##
##
##
##
##
|14.|Tangible fixed assets||
|---|---|---|
|||Plant and|
|||machinery|
|||6|
||Cost||
||At 1 September 2022|144,283|
||Disposals|(144,283)|
||At 31August 2023||
||Depreciation||
||At 1 September 2022|100,813|
||Disposals|(100,813)|
||At 31August 2023||
||Carrying
amount||
||At 31August 2023||
||At 31August 2022|43,470|
|15.|Investments||
|||Investment|
|||properties|
||Cost or valuation||
||At 1 September 2022|11,635,071|
||Additions|20,300|
||At 31August 2023|11,655,371|
||Impairment||
||At 1 September
2022 and 31August 2023||
||Carrying
amount||
||At 31August 2023|11,655,371|
||At 31August 2022|11,635,071|
##
##
##
##
##
##
|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|
##
|Unrestricted|funds||||||
|---|---|---|---|---|---|---|
||||At|||At|
|||1 September||||31August 2|
||||2022
6|Income
6|Expenditure
6|023
f|
|General funds|||4,541,561|1,783,470|(1,426,309)|4,898,722|
|Revaluation|reserve||5,916,489|||5,916,489|
||||10,458,050|1,783,470|(1,426,309)|10,815,211|
||||At|||At|
|||1|September|||31August 20|
||||2021
6|Income
5|Expenditure
f|22
6|
|General funds|||4,538,091|1,465,118|(1,461,648)|4,541,561|
|Revaluation|reserve||5,916,489|||5,916,489|
||||10,454,580|1,465,118|(1,461,648)|10,458,050|
##
##
##
##
##
##
|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|
|Analy|sis ofchang|es
in net debt||||
|---|---|---|---|---|---|
||||At||At|
||||1 Sep 2022|Cash flows|31Aug 2023|
||||F|5||
|Cash|at bank and|in hand|3,305|11,590|14,895|
|Debt|due within one year||(53,698)|(61,563)|(115,261)|
|Debt|due after one|year|(1,239,042)|88,846|(1,150,196)|
||||(1,289,435)|38,873|(1,250,562)|
##