Registered number: 07463679
Charity number: 1142269
GRUBB FORWARD LTD
(A company limited by guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

GRUBB FORWARD LTD
(A company limited by guarantee)
CONTENTS
Page
Reference and administrative details of the company. Its Trustees and advlsers
Trustees. report
Trustees. responsibilities 5tstement
Independent examlner's report
Statement of flnancbal actlvltles
Balance sheet
N¢tes to the financial statements
10- 19

GRUBB FORWARD LTD
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND
ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2022
Trustees
Ms Carollne Roboh
Mr John Gordon
Mrs Catherine Hesketh-Harvey
Mrs Sarah Gotley
Dr Eleanor O'Keefe
Mrs Rose-Lee Levy {appointed 22 February 20221
Company reg•stered
numbÈr
07463679
Charity registered
number
1142269
Accountants
SRLV Audit Limited
Charte￿d Accountants
Elsley Court
20-22 Great Titchfleld Street
Londtsn
WIW 8BE
Page 1

GRUBB FORWARD LTD
(A company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees (who a￿ also directors of the charity for the purpose of the Companles Act) present thelr
annual report together with the financial statements gf the compèny I'the company'l for the year l January
2022 to 31 Decernber 2022. The Trustees confirm that the annual report and financial staternents of the
company comply with the current statutory requirements, the requirements of the company's governing
document and the provisions of the Statement of Recommended Practice ISORPI applicable to charities
preparing their aCCOLtnts In accordance with the Financial Reporting Standard applicable in the UK and
Republlc of Ireland IFRS102) {effettive l January 20151 as amended by Update BLtlletift I (effective January
20151.
Since the company qualifies as small under section 382 of the Companies Art 2006, the strategic report
required of medium and large companies under the Companies Act 2006 (Strategic Report and Dlrectors,
Reporti fiegulations 2013 has been omitted.
Objectlves and actlvltles
•. Poll¢ies and obJertive•
The objective of the charity is to promote social inclusion for public ber¢efit, particularly for the Roma people
lin Serbial and for people with disabilities, by preventing people from becoming socially excluded and
assisting them to integrate Into soclety.
b. Actlvltles for achl•vln9 ¢bJertlve$
GRU88 actively fights ra¢ial p￿)udice throu9h the GRUBB educational centres, the GRUB8 Show and the
variou5 arts and edL4Cation programmes created to advocate our goals.
The Trustees have pald due regard to guidan￿ used by the Charity Commlsslon In decidlng what activltles
Grubb Forward should undertake.
¢. Grant maklng poli¢•es
It is the policy of Grubb Forward to grant funds to run tutoring and artistic pro9rammes In Belgrade, Nls and
Novi Sad.
Page 2

GRUBB FORWARD LTD
{A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Achievements and perforrnance
Revlew of activities
During the year. the company received donations of £100.258 (2021 - É 10.069). Caroline Roboh, a member
of the 8oard of Trustees donated E80.000 12021 - £10,069) and Grubb Productions CIC donated £20,258
12021 £Nill.
As at 31 December 2022, there was a deficit on unrestricted reserves amounting to £37,017 12021
reserves of £26,005) and no restricted reserves 1202 1 ÉNILI. The unrestricted reserves are available for
use at the dlscretion of the Trustees in furtherance of the general objectives of the company and whlch hove
not been designated for other purposes.
In the current year, the Trustees have made grants in excess of the total reserves available, funded by a
loan received from a Trustee. As a result. the charity has a net liability position at the balance sheet date of
£37,017 12021
reserves of £26,005). Prior t¢¥ making such grants. the Trustees obtained the confirmatlon
of the fellow Trustee (lender) that the loan would not be repayoble until such time as the charity has
sufficient funds to meet its obligations and make any SLtch repayment. The charity has cash resetves of
£ 137,256 1202 1 £30,506) as at the year end, and the Trustees expect the balance sheet posltlon to be
reversed within the foreseeable future such that donations will exceed charitable expendlture and posltlve
reserves are malntained.
GRUBB has created varlous projects to allow the collaboratlon and Integration of Roma and non Roma young
people Including the three GRU88 education centres in Serb¢a and the GRUBB Show. The GRU88 centres
have a hlgh success rate in keeping Roma children in school and allowing them to pass their exams,
b. Investment pollcy •nd pertorm•n¢e
The sole Investment 15 in the wholly owned subsidiary, Grubb Productions CIC. Please see the flxed asset
Investment note for further details.
Flnanclal revlew
. Golng concern
After making appropriate enqltiries, the Trustees have a reasonable expectation that the company has
adequate resources to continue in operational extstence for the foreseeable future. For this reason, they
continue to adopt the going concern basis in preparing the financial statements. Further detalls regarding
the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should
be rnaintained at a level equivalent to between three to six months of expenditu￿. The Trustees conslder
that resetves at this level will ensure that, In the event of a signifscant drop in funding, they will be able to
continue the charity's current activities while consideration Is given to ways in whlch additional funds may be
raised.
As disclosed in the "Review of activities" above, the Trustees made grants in excess of the available reserves
in the year. Appropriate steps to ensvre that the charity will be able to meet Its obligations were taken at
the time of making the grants. The charity has sufficient cash reserves to allow it to continue to meet it's
activities.
Page 3

## **GRUBB FORWARD LTD** 

## **(A company limited by guarantee)** 

## **TRUSTEES'REPORT(CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **Structure, governance and management** 

## **a. Constitution** 

The company is registered as a charitable company limited by guaratee that was incorporated on 8 December 2010 and registered as a charity on 6 June 2011. The company changed its name from RPoint Forward Ltd on 22 January 2013. 

The company is constituted under a trust deed. The Trustees, who are also directors for the purpose of company law, and who served during the year were: 

Miss Caroline Roboh Mr John Gordon Mrs Sarah Gatley Dr Eleanor O'Keefe Mrs Catherine Hesketh-Harvey 

## **b. Methods of appointment or election of Trustees** 

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the trust deed. 

## **c. Organisational structure and decision-making policies** 

The Trustees are appointed in accordance with the articles of association and make all major decisions of the charity. 

None _of_ the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 In the event of winding up. 

The Trustees have assessed the major risks to which the company Is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. 

## **Plans for future periods** 

The Trustees have a reasonable expectation that donations received will be in excess of the current negative reserves. The funding of the charity wlll continue to be reviewed and the Trustees expect to make further donations as funding becomes avallable, with the aim of improving the lives of individuals. 

## **Funds held as custodian** 

No funds are held as a custodian. 

Approved by order of the members of the board of Trustees on 10 October 2023 and signed on their behalf by: 


**Ms Caroline Roboh** Trustee 

Page4 



GRUBB FORWARD LTD
{A company limited by guarantee)
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees (who are a150 the dirertors of the company for the purposes of company lawl are responsible
for preparing the trustees, report and the financial statements in actordance with applicable law and United
Kin9dom Accounting Standards {Uniled Kingdom Generally Accepted Ac¢oynting Practice).
Company law requires the Trustees to p￿pare financial statements for each financial year. Under company
law, the Trustees must not approve the financial statements unless they are satisfied that they give a true
and fair view of the state of affairs of the company and of its incoming resources and application of
resources, including its Income and expenditure, for that periotj. In preparing these financial statements, the
Trustees are required to..
select SLtitable accounting pollcles and then apply them consistently.
observe the methods and principles of the Charities SORP IFRS 1021;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 1021 have been followed, subject to any
material departures disclosed and explained in the financial statements,.
prepare the flnancial statements on the going concern basis unless it is inappropriate to presume that
the cornpany will continue In bijsiness.
The Trustees are responsible for keeping adequate accountin9 records that are sufficient to show and explaln
the company's transactions and dSsclose with reasonable accuracy at any time the financial position of the
company and enable them to en$￿￿ that the financial statements comply with the Companies Act 2006.
They are also responsible for salegvardin9 the assets of the company and hence for taking reasonable steps
for the prevention and detection of fraud and other irre9ularities.
Page 5

GRUBB FORWARD LTD
(A company limited by guarantee}
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
Jndtpendent examlner's report to the Trustees of Grubb Forward Ltd ('the company.)
report to the charity Trustees on my examination of the accounts of the company for the year ended 31
December 2022.
Responsibilities and basis of report
As the Trustees of the company land its diretttsrs for the pury)oses of company lawl YOL¢ are responsible for
the preparatlon of the accounts in accordance with the ￿QU1￿ments of the Companles Act 2006 I'the 2006
Act'l.
Having satisfied rnyself that the accounts of the company are not ￿qUired to be audited under Part 16 of the
2006 Act and are eligible for independent examination. J report in respect of my examination of the
company's accounts carried out under section 145 of the Charities Act 2011 {'the 2011 Act'l. Zn carrying out
my examination I have followed the Directions given by the Charity Commisslon under section 14515llbl of
the 2011 A¢t.
Independent examlner's statement
I have completed my examlnatlon. I confirm that matters have come to my attentlon In connection wlth
the examlnation glving me cause to believe..
a¢¢ounting records were not kept in respert of the company as ￿QuIred by sectlon 386 of the 2006
Act; or
the accounts do not accord with those records: or
the accounts do not comply with the accounting ￿qUIreMentS of sectlon 396 of the 2006 Act other
than any requirement that the accounts give a 'true and fair, view which Is not a matter considered as
part of an independent examinatlon- or
the account5 have not been prepa￿d in accordance with the methods arbd principles of the Statement
of Recommended Practice for accounting and reporting by charities applicable to charities preparing
thelr accoLtnts In accordance with the Financial Reporting Standard applicable in the UK and Republic
of Ireland IFRS 1021.
I have no concerns and have come across no other matters in connection with the examlnatSon to whlch
attention shoult4 be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Page 6

## **GRUBB FORWARD LTD (A company limited by guarantee)** 

## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **Use of our report** 

This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report. 

Signed: Dated: 11 October 2023 

Richard Gilbert for and on behalf of 

## **SRLV Audit Limited** 

Chartered Accountants Elsley Court 20-22 Great Titchfield Street London WlW 8BE 

Page 7 



GRUBB FORWARD LTD
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE
ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2022
Unrestricted
funds
2022
Total
funds
2022
Total
Funds
2021
Note
Income from:
Donations
Other trading artlvltles
100,258
86
100,258
86
10,069
Tot41 income
100,344
100,344
10,069
Expendlture on:
Charitable activities
163,366
163,366
6,046
Total expenditure
163,366
163,366
6,046
Net movement In funds before other recognlsed
galns
(63,022)
(63,022)
4,023
Net movement In lunds
(63,022)
(63,022)
4,023
ReconciliJtlon of funds:
Total funds brought forb¥ard
Net movement in funds
26,005
(63,022)
26,005
(63,022)
21,982
4,023
Total funds carrled forward
(37,017)
(37,017)
26,005
The statement of flnanclal activities includes all gains and losses recognised in the year.
The notes on pages 10 to 19 form part of these financial statements.
Page 8

## **GRUBB FORWARD LTD (A company limited by guarantee) REGISTERED NUMBER: 07463679** 

## **BALANCE SHEET AS AT 31 DECEMBER 2022** 

|**Fixed assets**<br>Investments<br>**Current assets**<br>Cash at bank and in hand<br>Creditors: amounts falling due within one<br>year<br>**Net current (liabilities) / assets**<br>**Total assets less current liabilities**<br>**Total net (liabilities} / assets**<br>**Charity funds**<br>Restricted funds<br>Unrestricted funds<br>**Total funds**<br>**Note**<br>10<br>11<br>12<br>12|**137,256**<br>**137,256**<br>**(174,285)**|**2022**<br>**£**<br>**12**<br>**12**<br>**(37,029)**<br>**(37,017}**<br>**(37,017}**<br>**{37,017)**<br>**(37,017)**|30,506<br>30,506<br>(4,513)|2021<br>£<br>12<br>12<br>25,993<br>26,005<br>26,005<br>26,005<br>26,005|
|---|---|---|---|---|



The company was entitled to exemption from audit under section 477 of the Companies Act 2006. 

The members have not required the company to obtain an audit for the year in question In accordance with section 476 of Companies Act 2006. 

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. 

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. 

The financial statements were approved and authorised for issue by the Trustees on 10 October 2023 and signed on their behalf by: 

� �£IL____ 

## **Ms Caroline Roboh** 

Trustee 

The notes on pages 10 to 19 form part of these financial statements. 

Page 9 



GRUBB FORWARD LTD
(A company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
General information
The company Is a private company limited by guarantee. The members of the company are the
Trustees named on page l. In the event of the company being wound up, the liability in respect of the
guarantee is Ilmited to El per member of the company.
The address of its reglstered office is Elsey Court, 20-22 G￿at Titchfleld Street, London, WIW 8BE.
Accounting pollcl•s
2.1 Basis of preparation of financial st•tements
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to
Charities p￿parIng their accounts in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland IFRS 1021 leffertive l January 20191, the Flnancial Reportlng
Standard applicable In the UK and Republic of Ireland {FRS 1021 and the Companles Act 2006.
Grubb Forward Ltd meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transactlon vallte unless otherwise stated in
the relevant accounting pollcy.
The charlty's functlonal and presentatlonal currency is pound sterling.
2.2 Goln9 ¢on¢¢rn
A5 at the year end, the balance sheet shows that the company has liabilities In excess of assets
as a result of a Trustee loan to the company. The Trustees are of the opinion that this is
temporary and therefore the accounts have been p￿pared on a going concern basis. A Trustee
has confirmed that she will provide support to the charity by not ￿CallIng the loan In the
foreseeable future and therefore there are no material uncertainties about the charity's abillty to
continue as a going concern.
2.3 Income
All income is reco9nised once the company has entitlement to the Income, It Is probable that the
income w511 be received and the amount of income ￿CeIVable can be measured reliably.
Donated services or facilities are recognised when the company has Control over the item. anv
condition5 as5tsciated with the donated item have been met, the receipt of economic benefit from
the use of the company of the item is probable and that economic benefit can be measured
reliably.
On receipt, donated professional services and donated facilities are recognised on the basis of the
value of the gift to the company which is the amount the company would have been willing to pay
to obtain services or facilities of equivalent economic benefit on the open market,.
correspor*ding amount is then recognised in expenditure in the period of recejpt.
Page 10

GRUBB FORWARD LTD
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Accountlng policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constwctive obligation to transfer economic
benefit tts a third party, it is probable that a transfer of economic benefits will be required In
settlement and the amount of the obligation can be ffleaSu￿d reliably. Expenditure Is classified
by activity. The Costs of each activity are made up of the total of direct costs and shared costs,
¢ncluding support costs involved in undertakino each activity. Direct costs attributable to a single
activity are allocated directly to that activity. Shared costs which contribute to more than one
activity and support costs which are not attributable to a single activity are apportioned between
those activities on a basis con51Stent with the use of resources. Central staff costs are allocate(J
on the basi5 of time spent, and depreciation charges allo¢ated on the portion of the asset's use.
Expenditure on charitoble activities Is Incurred on directly undertaking the activities whl¢h further
the ¢ompany's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the
offer Is conditionol, such grants being recognised as expenditure when the conditions attaching
are fulfilled. Grants olfered subject to conditions which have not been met at the year end are
noted as a commitment, bui not accrued as expenditure.
Support costs are those incurred dlrectly in support of expenditure on the objects of ihe
company. Governance ¢osts are those incurred in connection with administration of the company
and compllance with constitut¥onal and statutory requirements.
Charitable a¢tivities and governance costs are ¢osts incurred on the ¢ompany's educational
operations, including support costs and costs relating to the governan¢e of the company
apportioned to charitable activities.
2.5 Inve$tments
Investments irb subsidlarles are shown at cost less Impaim)ent.
2.6 Ca$h at bank and In hand
Cash al bank and in hand includes cash and short-term hlghly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or slmllar
account.
2.7 Liabilities and provisions
Llabilitiesare recognised when the￿ Trs an obllgalion at the balance sheet date as a result of
past event, il 15 probable that a transfer of economic benefst will be required in settlement, and
the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipate5 It will pay to settle the debt
or the amgunt it has ￿ceiVed as advanced payments for the goods or services it must provide.
ProvSsSons are measured at the best estimate of the amounts reqUI￿d to settle the obligation.
Page11

GRUBB FORWARD LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Accountin9 policies {continued}
2.8 Financlal InstrumeDt5
The company only has financial assets and financial liabilities ol a kind that qualify a5 basic
financial Instruments. 8asic financial instruments are initially recognised at transactlon value and
subsequently measured at their settlement value.
2.9 Fund accountlng
General funds are unrestncted funds which are available for sjse at the discretion of the Trustees
In furtherance of the general objectives of the company and which have not been desSgnated for
other purposes.
2.10 Group account$
The flnanclal statements present information about the company as an individual undertaking and
not about its group. The ¢ompany and its subsidiary undertaking ¢omprlse of a small-sized group.
The company has therefore taken advantage of the exemption5 provided by sectlon 399 of the
Companies Act 2006 not to prepare group accounts.
2.11 Cash Ilow
Since the company qualifies as small under section 383 of the Companies Act 2006, it has taken
advantage of the exemptiorbs permitted by the Charities SORP not to prepare a statement Of cash
flows.
Income Irom donatloTrg
Unrestricted
funds
2022
Total
funds
2022
Donations
100,258
100,258
Unrestricted
funds
2021
Total
funds
2021
Oonations
10,069
10,069
Page12

GRUBB FORWARD LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Income from other activities
Unrestricted
funds
2022
Total
funds
2022
Total
fund5
2021
Interest receivable
86
86
Analysls of grants
Grants to
Institutions
2022
Total
funds
2022
Total
funds
2021
Grants to Grubb FondacSJa, a Serbian Found)tlon
155,218
155,218
Analy$is of exp•ndlture on charltable •ctlvlties
Summary by fund type
Unrestricted
funds
2022
Total
2022
Charitable Costs
163,366
163,366
Unrestricted
funds
2021
Total
2021
Charitable costs
6,046
6,046
Page 13

GRUBB FORWARD LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Analysis of expendlture by activities
Grant
funding of
activities
2022
Govérnance
costs
Support
costg
2022
Total
funds
2022
2022
Charitable costs
4.950
155,218
3,198
163,366
Governance
costs
2021
Support
costs
2021
Total
funds
2021
Charltable costs
4,693
1,353
6,046
Page 14

GRUBB FORWARD LTD
(A company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Analysis of expenditure by activtties (conttnued)
Analysis of support cogts
Support
costs
2022
Total
funds
2022
Website design
Bank charges
Event plannlng
Interest charged
Movemeni on foreign exchange
Prlnting, postage and stationary
Legal and profe55Ional
3,353
188
3,353
188
8,422
668
8,422
668
110,058) {10,058)
132
132
493
493
3,198
3,198
SL*PPOrt
costs
2021
Total
funds
2021
Bank charges
Movement on ftsreign exchange
Printin9, postage and statior¢ary
78
78
1,143
132
1,143
132
1,353
1,353
Page 15

GRUBB FORWARD LTD
(A company lirnited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Analysis of governance tosts
Governance
costs
2022
Total
funds
2022
Independent examination fee
4,950
4,950
Governance
costs
2021
Total
funds
2021
Independent examination fee
4,693
4,693
Trust¢•s' r¢mun•ratlon and •xp•nses
During the year, no Trustee received any ￿mUneratIOn or other benefits1202 1 £NILI.
Durlng the year ended 31 December 2022, no Trustee expenses have been Inojrred 12021 ENILI.
Page 16

GRUBB FORWARD LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
10. Fixed asset investments
Shares in
group
undertakings
Cost
At l January 2022
12
At 31 December 2022
12
N•t book valu•
At 31 Oecember 2022
12
At 31 December 2021
12
Subsldl•ry ynd*rt*kln9
The lollowlng was a subsldiary undertaking of the company:
Name
Holding
Grubb Productions CIC
ioov/
The charlty holds 12 ordinary shares of £1 each in its wholly owned subsidlary company, Grubb
Productions CIC, which is registered In England and Wales and wh05e registered office is Elsey Court,
20-22 G￿al Tirchfield Street, London, WIW 88E.
11. Crndltors: Amounts falling due wlthin one year
2022
2021
Other creditors
164.703
9,582
12
4,501
Accruals
174,285
4,513
Page 17

GRUBB FORWARD LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
12. Statement of funds
Statement ot tunds - current year
Balance at
l January
2022
Balance at 31
Decernber 2022
Income
expenditure
Unrestricted funds
26,005
100,344
(163,366)
{37,017)
General funds - all funds
StJt¢ment ol funds - prlor year
8alance at
31
December
2021
Balance at
l January
2021
Income Expenditure
Unrestr5cted funds
General funds - all funds
21,982
10,069
(6,0461
26,005
13. An*ly$i$ of net assets betw•en lunds
Analysls of net assets between funds - current year
Unrestricted
funds
2022
Total
funds
2022
Fixed asset investments
Current assets
Creditors dtje within one year
12
12
137,256
137,256
(174,285) (174,285)
Total
137,017) (37,017)
Page 18

GRUBB FORWARD LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
13. Analysis of net assets between funds {contlnued)
AnalysSs of net assets between funds- pr•or year
Unrestricted
funds
2021
Total
funds
2021
Investment in subsldiary
Current assets
Creditors due within one year
12
12
30,506
[4,513}
30,506
{4,5131
Tot•1
26,005
26,005
14. R¢lat•d party transactlons
During the year, the company received a loan of £244,691 12021 ENIL} from CarolSne Roboh,
Trustee of the company, of which £80.000 12021 £NIL} was released and re¢¢rded as a donatlon
within the statement of financial activities, leaving a balance of £164,691 {2021 £NILI outstanding
at the balance sheet date. The loan is Inte￿$t-free and repayable on demand with no repayment
terrns, although the Trustee has provided confirmation that these amounts will not be called until
such lime as the entity has sufficient funds to do so. During the prior year, donatlons of £10,069
were receSved from Caroline Roboh.
During the year, the company made grants of £155.218 12021 ÉNII) to Grubb Ftsndacija, a Serblan
Foundation, an oroanisation under the control of Trustees in common. There was no balance
outstandin9 at the balance sheet date.
During the year, Grubb Forward received donations totalllng £20,258 {2021 £Nill from Grubb
Productitsns CIC I 100% subsldiary).
15. Controlllng party
In the opinion of the Trustees, there is no single controlling party.
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