**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 2024**
## **GRUBB FORWARD LTD**
## **(A company limited by guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the company, its trustees and advisers**|1|
|**Trustees' report**|2 - 4|
|**Trustees' responsibilities statement**|5|
|**Independent examiner's report**|6 - 7|
|**Statement of financial activities**|8|
|**Balance sheet**|9|
|**Notes 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 2024**
|**Trustees**|Ms Caroline Roboh|
|---|---|
||Mrs Sarah Gotley|
||Dr Eleanor O'Keefe|
||Mrs Rose-Lee Levy|
|**Company registered**
**number**
07463679
**Charity registered**
**number**
1142269
**Registered office**
Elsley Court
20-22 Great Titchfield Street
London
W1W 8BE
**Accountants**
SRLV Audit Limited
Chartered Accountants
Elsley Court
20-22 Great Titchfield Street
London
W1W 8BE||
Page 1
## **GRUBB FORWARD LTD**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
The Trustees (who are also directors of the charity for the purpose of the Companies Act) present their annual report together with the financial statements of the company ("the company") for the year 1 January 2024 to 31 December 2024. The Trustees confirm that the annual report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Since the company qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Objectives and activities**
## **a. Policies and objectives**
The objective of the charity is to promote social inclusion for public benefit, particularly for the Roma people (in Serbia) and for people with disabilities, by preventing people from becoming socially excluded and assisting them to integrate into society.
## **b. Activities for achieving objectives**
GRUBB actively fights racial prejudice through the GRUBB educational centres, the GRUBB Show and the various arts and education programmes created to advocate our goals.
The Trustees have paid due regard to guidance used by the Charity Commission in deciding what activities Grubb Forward should undertake.
## **c. Grant making policies**
It is the policy of Grubb Forward to grant funds to run tutoring and artistic programmes in Belgrade, Nis and Novi Sad.
Page 2
## **GRUBB FORWARD LTD**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Achievements and performance**
## **a. Review of activities**
During the year, the company received donations of £114,911 (2023 - £93,629). Caroline Roboh, a member of the Board of Trustees donated £53,184 (2023 - £91,929), The Beaverbrook Foundation donated £NIL (2023 - £1,200), Sir Gordon Palmer donated £NIL (2023 - £500), Grubb Productions CIC donated £21,727 (2023 - £NIL) and Gift Aid of £40,000 (2023 - £NIL) was received.
As at 31 December 2024, there was a deficit on unrestricted reserves amounting to £125,028 (2023 - £108,961) and no restricted reserves (2023 - £NIL). The unrestricted reserves are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have 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 £125,028 (2023 - £108,961). Prior to making such grants, the Trustees obtained the confirmation of the fellow Trustee (lender) that the loan would not be repayable until such time as the charity has sufficient funds to meet its obligations and make any such repayment. The charity has cash reserves of £7,885 (2023 - £68,437) as at the year end, and the Trustees expect the balance sheet position to be reversed within the foreseeable future such that donations will exceed charitable expenditure and positive reserves are maintained.
GRUBB has created various projects to allow the collaboration and integration of Roma and non Roma young people including the three GRUBB education centres in Serbia and the GRUBB Show. The GRUBB centres have a high success rate in keeping Roma children in school and allowing them to pass their exams.
## **b. Investment policy and performance**
The sole investment is in the wholly owned subsidiary, Grubb Productions CIC. Please see the fixed asset investment note for further details.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details 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 maintained at a level equivalent to between three to six months of expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which 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 ensure 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
OAiIOB FOIIWAAD LTO
IA ¢omp•Dy lknll•d lry gu•r•nl••?
TRUSTEES. REPORT (COPMNVED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The company Is reglstered as a charftatye cwipany Ilmlted by guarntee that was lrtorw*ed cffj U
December 2010 and registe as a chartty 6 )une 2011. The cc*npany thanged its name frrJD RPoint
Fcn¥•ryl Ltd on 22 January 2013.
The c£rfnpany Is tt)nst1ted under a trust deed. The Truste*5, who are also dlrectors lor the wrFose of
(Mnpjny law, and who sewved durfng the year were..
Mlss Carollne RoLy)h
Mr5 Roge.Lee Levy
Mr5 Sarah Gc*ley
Dr ESeancY O'Keele
The mbnag*ment of th* company Is the rffiF•Ml1ty ol the Trustets wlw) elected and under
the tems of the trust dee(J.
The Trustees are aptKJlnted In acc(Kdance wlth the artldes ol asscclatlon and moke all IW dedslms of the
thartty.
None of the Trustees has bny lrterest In ojnyny. All of the TfUSte•$ 41* the
c(NnnY 4n(I guarnntee to £1 In the ¢¥t d wln¢lThJ up.
The Trustees have assessed the mafrx rfsxs to the cth))wny Is e¥pc6ed. and arn s)tsslled ihat systems
a In pla¢e to mf(Igate exposure to the mojor rtsks.
The Tnjstees have a reasonalk ¢xpect•tkn that donatlcffls *111 be In excess ol the Cufrent r*iatlve
reserves. The fvrmllng d the (hjrlty wlll Cmvnue to t* revIea •nd Trustee5 exF*rt to make fvrther
y)atths •5 lundiThJ bV•llJble. wsth the alm of IM¥n0 the IW lThllvlduals.
No funds are hekl 4$ b cu•todlan.
Akyo¥ol ty ordw rrf the m•n*Arn of th• yrd ol Thst•o• •nd slgn•d on th•lr behfyif by:
M¥ C*rolln• Aob•h
Trustee
25 Octobèr 2025
## **GRUBB FORWARD LTD**
## **(A company limited by guarantee)**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare 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 period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 5
## **GRUBB FORWARD LTD**
## **(A company limited by guarantee)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Independent examiner's report to the Trustees of Grubb Forward Ltd ('the company')**
I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 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 examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should 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 2024**
## **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.
Richard Gilbert for and on behalf of
## **SRLV Audit Limited**
Chartered Accountants Elsley Court 20-22 Great Titchfield Street London W1W 8BE
29 October 2025
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 2024**
|**Note**
**Income from:**
Donations
3
Other trading activities
4
**Total income**
**Expenditure on:**
Charitable activities
6
**Total expenditure**
**Net movement in funds before other recognised**
**gains/(losses)**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**114,911**
**677**
**115,588**
**131,655**
**131,655**
**(16,067)**
**(16,067)**
**(108,961)**
**(16,067)**
**(125,028)**|**Total**
**funds**
**2024**
**£**
**114,911**
**677**
**115,588**
**131,655**
**131,655**
**(16,067)**
**(16,067)**
**(108,961)**
**(16,067)**
**(125,028)**|Total
funds
2023
£
93,629
522
94,151
166,095
166,095
(71,944)
(71,944)
(37,017)
(71,944)
(108,961)|
|---|---|---|---|
The statement of financial 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
## **GRUBS FORWARD L 1D**
## **(A comp ny llmlt d by gu r nt ) R GIST RED NUMB R: 07463679**
## **BALANCE SHEET AS AT 31 DECEMBER 2024**
||||**2024**||2023|
|---|---|---|---|---|---|
||**Note**||**£**||**£**|
|**Fixed a**
**ets**||||||
|**Investments**|10||**12**||12|
||||**12**||12|
|**Current asset**||||||
|**cash at bank and in hand**||**7,885**||**68,437**||
|||**7,885**||**68,437**||
|**Creditors: amounts falling due within one**||||||
|**year**|11|**(132,925)**||**(177,410)**||
|**Net current liabilities**|||**(125,040)**||**(108,973)**|
|**Totl assets less current liabilities**|||**(12�,028)**||**(108,961)**|
|**Total net liabilities**|||**(125,028}**||**(108,961)**|
|**Charity funds**||||||
|**Unrestricted funds**|12||**(125,028}**||**(108,961)**|
|**Total funds**|||**(125,028)**||**(108,961)**|
**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 be n 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 and signed on their behalf by:**
**Ms Carolin Roboh Truste 25 October 2025 The notes on pages 10** to **19** _**form**_ **part of these nnanclal statements.**
**Page8**
**(A company limited by guarantee)**
## **GRUBB FORWARD LTD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. General information**
The company is a private company limited by guarantee. The members of the company are the Trustees named on page one. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
The address of its registered office is Elsey Court, 20-22 Great Titchfield Street, London, W1W 8BE.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies 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 transaction value unless otherwise stated in the relevant accounting policy.
The charity's functional and presentational currency is pound sterling.
## **2.2 Going concern**
As 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 prepared on a going concern basis. A Trustee has confirmed that she will provide support to the charity by not recalling the loan in the foreseeable future and therefore there are no material uncertainties about the charity's ability to continue as a going concern.
## **2.3 Income**
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donated services or facilities are recognised when the company has control over the item, any conditions associated 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; a corresponding amount is then recognised in expenditure in the period of receipt.
Page 10
**(A company limited by guarantee)**
## **GRUBB FORWARD LTD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **2. Accounting policies (continued)**
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to 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 measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking 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 consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company'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 conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
Support costs are those incurred directly in support of expenditure on the objects of the company. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
Charitable activities and governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
## **2.5 Investments**
Investments in subsidiaries are shown at cost less impairment.
## **2.6 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.7 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation.
Page 11
**(A company limited by guarantee)**
## **GRUBB FORWARD LTD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **2. Accounting policies (continued)**
## **2.8 Financial instruments**
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **2.9 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
## **2.10 Group accounts**
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise of a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
## **2.11 Cash flow**
Since the company qualifies as small under section 383 of the Companies Act 2006, it has taken advantage of the exemptions permitted by the Charities SORP not to prepare a statement of cash flows.
## **3. Income from donations**
|Donations
Donations|**Unrestricted**
**funds**
**2024**
**£**
114,911
Unrestricted
funds
2023
£
93,629|**Total**
**funds**
**2024**
**£**
**114,911**
Total
funds
2023
£
93,629|
|---|---|---|
Page 12
## **GRUBB FORWARD LTD**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **4. Income from other activities**
|Interest receivable
Interest receivable
**5.**
**Analysis of grants**
Grants to Grubb Fondacija, a Serbian Foundation
Grants to Grubb Fondacija, a Serbian Foundation|**Unrestricted**
**funds**
**2024**
**£**
677
Unrestricted
funds
2023
£
522
**Grants to**
**institutions**
**2024**
**£**
121,815
Grants to
institutions
2023
£
153,207|**Unrestricted**
**funds**
**2024**
**£**
677||**Total**
**funds**
**2024**
**£**
**677**
Total
funds
2023
£
522
**Total**
**funds**
**2024**
**£**
**121,815**
Total
funds
2023
£
153,207|
|---|---|---|---|---|
||||||
||||||
Page 13
## **GRUBB FORWARD LTD**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **6. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|Charitable costs
Charitable costs|**Unrestricted**
**funds**
**2024**
**£**
131,655
Unrestricted
funds
2023
£
166,095|**Total**
**2024**
**£**
**131,655**
Total
2023
£
166,095|
|---|---|---|
## **7. Analysis of expenditure by activities**
|Charitable costs
Charitable costs|**Governance**
**costs**
**2024**
**£**
6,500
Governance
costs
2023
£
7,090|**Grant**
**funding of**
**activities**
**2024**
**£**
121,815
Grant
funding of
activities
2023
£
153,207|**Support**
**costs**
**2024**
**£**
3,340
Support
costs
2023
£
5,798|**Total**
**funds**
**2024**
**£**
**131,655**
Total
funds
2023
£
166,095|
|---|---|---|---|---|
Page 14
## **GRUBB FORWARD LTD**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Bank charges
Movement on foreign exchange
Printing, postage and stationary
Legal and professional
Bank charges
Event planning
Movement on foreign exchange
Printing, postage and stationary
Legal and professional|**Support**
**costs**
**2024**
**£**
85
1,055
396
1,804
3,340
Support
costs
2023
£
140
2,636
2,265
204
553
5,798|**Total**
**funds**
**2024**
**£**
**85**
**1,055**
**396**
**1,804**|
|---|---|---|
|||**3,340**|
|||Total
funds
2023
£
140
2,636
2,265
204
553|
|||5,798|
Page 15
## **GRUBB FORWARD LTD**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **8. Analysis of governance costs**
|Independent examination fee
Independent examination fee|**Governance**
**costs**
**2024**
**£**
6,500
Governance
costs
2023
£
7,090|**Total**
**funds**
**2024**
**£**
**6,500**
Total
funds
2023
£
7,090|
|---|---|---|
## **9. Trustees' remuneration and expenses**
During the year, no Trustee received any remuneration or other benefits (2023 - £NIL).
During the year, no Trustee expenses have been incurred (2023 - £NIL).
Page 16
## **GRUBB FORWARD LTD**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **10. Fixed asset investments**
||**Shares in**|
|---|---|
||**group**|
||**undertakings**|
||**£**|
|**Cost**||
|At 1 January 2024|**12**|
|At 31 December 2024|**12**|
|**Net book value**||
|At 31 December 2024|**12**|
|At 31 December 2023|12|
|**Subsidiary undertaking**||
|The following was a subsidiary undertaking of the company:||
|**Name**|**Holding**|
|Grubb Productions CIC|100%|
|The charity holds 12 ordinary shares of £1 each in its wholly owned subsidiary company, Grubb||
|Productions CIC, which is|registered in England and Wales and whose registered office is Elsey Court,|
|20-22 Great Titchfield Street, London, W1W 8BE.||
## **11. Creditors: Amounts falling due within one year**
|Other creditors
Accruals|**2024**
**£**
**125,509**
**7,416**
**132,925**|2023
£
171,910
5,500|
|---|---|---|
||||
|||177,410|
Page 17
## **GRUBB FORWARD LTD**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **12. Statement of funds**
|**Statement of funds - current year**
**Balance at**
**1 January**
**2024**
**£**
**Unrestricted funds**
General Funds - all funds
**(108,961)**
**Statement of funds - prior year**
Balance at
1 January
2023
£
**Unrestricted funds**
General Funds - all funds
(37,017)
**13.**
**Analysis of net assets between funds**
**Analysis of net assets between funds - current period**
Fixed asset investments
Current assets
Creditors due within one year
**Total**|**Income**
**£**
**Expenditure**
**£**
**115,588**
**(131,655)**
Income
£
Expenditure
£
94,151
(166,095)
**Unrestricted**
**funds**
**2024**
**£**
12
7,885
(132,925)
(125,028)||**Balance at**
**31**
**December**
**2024**
**£**
**(125,028)**
Balance at
31
December
2023
£
(108,961)
**Total**
**funds**
**2024**
**£**
**12**
**7,885**
**(132,925)**|
|---|---|---|---|
|||||
||||**(125,028)**|
Page 18
## **GRUBB FORWARD LTD**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **13. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior period**
|Fixed asset investments
Current assets
Creditors due within one year
**Total**|Unrestricted
funds
2023
£
12
68,437
(177,410)
(108,961)|Total
funds
2023
£
12
68,437
(177,410)
(108,961)|
|---|---|---|
## **14. Related party transactions**
Grubb Forward Limited received total loans amounting to £171,897 as at 31 December 2023 from Caroline Roboh, a Trustee of the company, of which £46,400 was released and recorded as a donation this year within the statement of financial activities, leaving a balance of £125,497 (2023 - £171,897) outstanding at the balance sheet date. The loan is interest-free and repayable on demand with no repayment terms, although the Trustee has provided confirmation that these amounts will not be called until such time as the entity has sufficient funds to do so.
During the year, a Trustee also made payments on behalf of the company amounting to £6,784 (2023 - £11,929), and these were recorded as donations within the statement of financial activities.
During the year, the company made grants of £121,815 (2023 - £153,207) to Grubb Fondacija, a Serbian Foundation, an organisation under the control of Trustees in common. There was no balance outstanding at the balance sheet date.
During the year, Grubb Forward Limited received donations totalling £21,727 (2023 - £NIL) from Grubb Productions CIC (100% subsidiary).
## **15. Controlling party**
In the opinion of the Trustees, there is no single controlling party.
Page 19