| Trustees | D Neuwirth BStone AWeis RWeis SWeis |
|||
|---|---|---|---|---|
| Secretary | BStone | |||
| Charity number | 1104484 | |||
| Company | number | 05070736 | ||
| Registered | office | 59 Kings Road | ||
| Prestwich | ||||
| Manchester | ||||
| M25 OLQ | ||||
| Auditor | Lopian Gross Barnett &Co | |||
| 1st Floor Cloister House | ||||
| Riverside, | New | Bailey Street | ||
| Manchester | ||||
| M3 5FS | ||||
| Bankers | Barclays Bank | |||
| 25 Cheetham | Hill Road | |||
| Manchester | ||||
| M4 4FL |
| Page | ||
|---|---|---|
| Trustees' report |
1-4 | |
| Statement of Trustees' | responsibilities | |
| Independent auditor's |
report | |
| Statement offinancial |
activities | |
| Balance sheet | 10 | |
| Statement ofcash flows |
||
| Notes to the financial | statements | 12-21 |
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2022 | 2021 | |||
| Notes | 6 | |||
| Income from: | ||||
| Donations and legacies |
3 | 4,700 | 14,718,750 | |
| Investments | 4 | 21,097,970 | 21,000,450 | |
| Total income | 21,102,670 | 35,719,200 | ||
| ~E* dlt |
||||
| Property holding |
costs | 6 | 3,737,980 | 3,460,845 |
| Charitable activities |
5 | 13,861,480 | 15,596,974 | |
| Total resources | expended | 17,599,460 | 19,057,819 | |
| Net gains on investments | 11 | 1,528,582 | 40,482,282 | |
| Net income for the year/ | ||||
| Net movement | in funds | 5,031,792 | 57,143,663 | |
| Fund balances at 1 January 2022 | 409,016,757 | 351,873,094 | ||
| Fund balances | at 31 December 2022 | 414,048,549 | 409,016,757 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Notes | f | 5 | ||||
| Fixed assets | ||||||
| Investment | properties | 13 | 419,904,558 | 415,551,607 | ||
| Current assets | ||||||
| Debtors | 14 | 1,972,615 | 2,620,727 | |||
| Cash at bank and | In | hand | 36,374,910 | 37,308,798 | ||
| 38,347,525 | 39,929,525 | |||||
| Creditors: | amounts | faglng due within | ||||
| one year | (11,714,553) | (10,458,794) | ||||
| Net current | assets | 26,632,972 | 29,470,731 | |||
| Total assets less | current llablgtles | 446,537,530 | 445,022,338 | |||
| Creditors: | amounts | faglng due after | ||||
| more than | one year | 17 | (32,488,981) | (36,005,581) | ||
| Net assets | 414,048,549 | 409,016,757 | ||||
| Income lunds | ||||||
| Unresiricted | funds | 414,048,549 | 409,016,757 | |||
| 414,048,549 | 409,016,757 |
| 2022 | 2021 | ||
|---|---|---|---|
| Notes | f | ||
| Cash flows from operating activities |
|||
| Cash absorbed by operations |
21 | (15,644,078) | (3,223,884) |
| Investing activities |
|||
| Purchase ofinvestment property |
(2,914,692) | (36,424,428) | |
| Proceeds on disposal ofinvestment property |
90,323 | 77,638,196 | |
| Repayment ofinvestment loans and receivables |
139 | (410) | |
| Interest and rent received from investments | 21,097,970 | 21,000,450 | |
| Net cash generated from investing activities |
18,273,740 | 62,213,808 | |
| Financing activities |
|||
| Repayment ofbank loans |
(3,563,550) | (34,179,892) | |
| Net cash used in financing activities |
(3,563,550) | (34,179,892) | |
| Net (decrease)/increase in cash and equivalents |
cash | (933,888) | 24,810,032 |
| Cash and cash equivalents at beginning |
ofyear | 37,308,798 | 12,498,766 |
| Cash and cash equivalents at end of |
year | 36,374,910 | 37,308,798 |
| 3 | Donations and legacies | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2022 | 2021 | ||
| f | |||
| Gift aid receivable | 4,700 | 14,718,750 | |
| 4 | Investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2022 | 2021 | ||
| 6 | 6 | ||
| Rental income | 20,788,116 | 20,965,934 | |
| Interest receivable | 309,854 | 34,516 | |
| 21,097,970 | 21,000,450 |
| Heading | Heading | ||||
|---|---|---|---|---|---|
| ¹ac982 | ¹ac982 | ||||
| 2022 | 2021 | ||||
| 8 | |||||
| Direct costs | |||||
| Charitable | grants to institutions | 13,807,741 | 15,533,914 | ||
| Share of | suppok and governance | costs (see note 7) | |||
| Support | 17,113 | 30,478 | |||
| Governance | 36,626 | 32,582 | |||
| 13,861,480 | 15,596,974 | ||||
| Analysis by Unrestricted |
fund funds |
13,861,480 | 15,596,974 |
| Property | holding costs | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Unrestricted | ||||||||
| funds | funds | ||||||||
| 2022 | 2021 | ||||||||
| f | 8 | ||||||||
| Ground | rents, insurance | premiums, | legal | and professional | fees | 2,432,257 | 1,775,666 | ||
| Interest | payable | 1,305,723 | 1,685,179 | ||||||
| 3,737,980 | 3,460,845 | ||||||||
| Suppok | costs | ||||||||
| Support | Governance | 2022 | Suppok | Governance | 2021 | ||||
| costs | costs | costs | costs | ||||||
| 6 | 6 | 9 | |||||||
| Support | costs | 17,113 | 17,113 | 30,478 | 30,478 | ||||
| Audit fees | 35,000 | 35,000 | 27,500 | 27,500 | |||||
| Accountancy | 1,626 | 1,626 | 5,082 | 5,082 | |||||
| 17,113 | 36,626 | 53,739 | 30,478 | 32,582 | 63,060 | ||||
| Analysed | between | ||||||||
| Charitable | activities | 17,113 | 36,626 | 53,739 | 30,478 | 32,582 | 63,060 |
| Net gains/( | loss | es) on in |
vestmen | ts | ||
|---|---|---|---|---|---|---|
| Unrestricted | Unrestricted | |||||
| funds | funds | |||||
| 2022 | 2021 | |||||
| f | 6 | |||||
| Revaluation | of | investment | properties | 1,528,582 | 24,155,779 | |
| Gain/(lass) | on | sale ofinvestment | properties | 16,326,503 | ||
| 1,528,582 | 40,482,282 |
| 2022 | |||||
|---|---|---|---|---|---|
| 6 | |||||
| Fair value | |||||
| At 1 January 2022 | 415,551,607 | ||||
| Additions | through | acquisitions | and giRs | 2,923,830 | |
| Disposals | (90,323) | ||||
| Net gains | or losses through | fair value adjustments | 1,528,582 | ||
| Other changes | (9,138) | ||||
| At 31 December 2022 | 419,904,558 |
| Debtors | Debtors | ||
|---|---|---|---|
| Amounts falling due within one year: |
2022 8 |
2021f | |
| Trade debtors | 1,098,250 | 1,726,370 | |
| Other debtors | 317,724 | 179,828 | |
| Prepayments | and accrued income | 556,641 | 714,529 |
| 1,972,615 | 2,620,727 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| 6 | f | ||||
| Bank loans | 33,395,031 | 36,958,581 | |||
| Payable | within one year | 906,050 | 953,000 | ||
| Payable | after one year | 32,488,981 | 36,005,581 | ||
| Amounts | included | above which | fall due after five years: | ||
| Payable | other than | by instalments | 12,167,500 |
| Notes | 2022f | 2021 6 |
||
|---|---|---|---|---|
| Bankloans | 15 | 906,050 | 953,000 | |
| Other taxation and social security | 730,663 | 736,930 | ||
| Trade creditors | 1,770,159 | 1,390,865 | ||
| Other creditors | 3,398,522 | 2,842,302 | ||
| Accruals and deferred | income | 4,909,159 | 4,535,697 | |
| 11,714,553 | 10,458,794 |
| Creditors: amounts falling due after |
more than one year | ||
|---|---|---|---|
| Notes | 2022f | 2021 | |
| Bankloans | 15 | 32,488,981 | 36,005,581 |
| At | At | 1January 2022 |
Incoming resources |
Resources expended |
Gains and losses |
Gains and losses |
At 31 December |
|||
|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | ||||||||||
| General funds | 409,016,757 | 21,102,670 | (17,599,460) | 1,528,582 | 414,048,549 | |||||
| Previous year: | At | 1January 2021 |
Incoming resources |
Resources expended |
Gains and losses |
At 31 December |
||||
| 2021 | ||||||||||
| 6 | 6 | |||||||||
| Generalfunds | 351,873,094 | 35,719,200 | (19,057,819) | 40,482,282 | 409,016,757 | |||||
| Unrestricted | funds - | [descriptionI | ||||||||
| These are unrestricted | funds which | are material | to the charity's | activities, | ||||||
| Movement in funds |
||||||||||
| Balance at Incoming Resources |
Revaluations, | Balance at | ||||||||
| 1January | 2022 resources expended |
gains and losses |
31 December 2022 |
|||||||
| 6 | 6 | |||||||||
| Unrestricted | funds | 409,016,757 21,102,670 (17,597,035) |
1,528,582 | 414,050,974 |
| Cash generated from operations |
Cash generated from operations |
2022 6 |
2021 6 |
||
|---|---|---|---|---|---|
| Surplus for the year | 5,031,792 | 57,143,663 | |||
| Adjustments for: |
|||||
| Investment income recognised |
in statement | offinancial | activities | (21,097,970) | (21,000,450) |
| Gain on disposal ofinvestment | property | (16,326,503) | |||
| Fair value gains and losses on | investment | properties | (1 528 582) | (24 155779) | |
| Movements in working capital. |
|||||
| Decrease in debtors |
647,973 | 454,348 | |||
| Increase in creditors |
1,302,709 | 660,837 | |||
| Cash absorbed by operations |
(15,644,078) | (3,223,884) |
| 22 | Analysis ofchanges In net funds |
|||
|---|---|---|---|---|
| At 1January | Cash flows | At 31 December | ||
| 2022f | 2022 6 |
|||
| Cash at bank and in hand | 37,308,798 | (933,888) | 36,374,910 | |
| Loans falling due within one year | (953,000) | 46,950 | (906,050) | |
| Loans falling due after more than one year | (36,005,581) | 3,516,600 | (32,488,981) | |
| 350,217 | 2,629,662 | 2,979,879 |