| Pages | ||||||||
|---|---|---|---|---|---|---|---|---|
| Trustees' annual report |
(incorporating | the director's | report) | 1 to 5 | ||||
| Independent | auditor's report to the |
trustees of Rubislaw | ||||||
| Foundation | 6to 11 | |||||||
| Consolidated | statement | offinancial | activities | (including | income | |||
| and expenditure account) |
12 | |||||||
| Balance sheet | 12a | |||||||
| Consolidated | balance sheet | 13 | ||||||
| Statement of |
cash flows | 14 | ||||||
| Notes to the | consolidated | financial | statements | 15to 23 |
| Registered | charity | name | name | Rubislaw Foundation |
Rubislaw Foundation |
|
|---|---|---|---|---|---|---|
| Charity registration | number | 1167432 | ||||
| Company | registration | number | 10067677 | |||
| Principal office and | registered | 2nd Floor - Parkgates | ||||
| office | Bury New Road | |||||
| Prestwich | ||||||
| Manchester | ||||||
| M25 OTL | ||||||
| The trustees | ||||||
| D Bistricer | ||||||
| T Rudinsky | ||||||
| M Richman | ||||||
| Auditor | Haffner Hoff |
Ltd | ||||
| Accountants | 8 statutory | auditor | ||||
| 2nd Floor - Parkgates | ||||||
| Bury New Road | ||||||
| Prestwich | ||||||
| Manchester | ||||||
| M25 OTL |
| Year end | ed 31 Dece | mb | er | 2022 | ||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| Unrestricted | ||||||||
| funds | Total funds | Total funds | ||||||
| Note | ||||||||
| Income and endowments | ||||||||
| Investment | income | 5 | 2,198,477 | 2,198,477 | 2,044,894 | |||
| Total income | 2,198,477 | 2,198,477 | 2,044,894 | |||||
| Expenditure | ||||||||
| Expenditure | on raising funds: | |||||||
| Investment management |
costs | 6 | 1,658,067 | 1,658,067 | 1,652,624 | |||
| Expenditure | on charitable | activities | 7,8 | 25,737 | 25,737 | 22,028 | ||
| Total expenditure | 1,683,804 | 1,683,804 | 1,674,652 | |||||
| Net income | and net movement | in funds | 514,673 | 514,673 | 370,242 | |||
| Reconciliation offunds |
||||||||
| Total funds | brought forward |
16,792,650 | 16,792,650 | 16,422,408 | ||||
| Total funds | carried forward | 17,307,323 | 17,307,323 | 16,792,650 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Note | ||||||
| Fixed assets | ||||||
| Investments | 120,002 | 120,003 | ||||
| Current assets | ||||||
| Debtors | 12 | 25,487,479 | 24,395,171 | |||
| Cash at bank and | in | hand | 50,200 | |||
| 25,537,679 | 24,395,171 | |||||
| Creditors: amounts | falling | due within one year | 13 | 134,762 | 148,803 | |
| Net current assets | 25,402,917 | 24,246,368 | ||||
| Total assets less | current | liabilities | 25,522,919 | 24,366,371 | ||
| Creditors: amounts | falling | due after more than | ||||
| one year | 14 | 5,211,671 | 5,211,671 | |||
| Net assets | 20,311,248 | 19,154,700 | ||||
| Funds ofthe charity | ||||||
| Unrestricted funds |
20,311,248 | 19,154,700 | ||||
| Total charity funds | 15 | 20,311,248 | 19,154,700 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Note | |||||
| Fixed assets | |||||
| Investment property |
13 | 63,679,004 | 63,679,004 | ||
| Current assets | |||||
| Debtors | 15 | 184,313 | 110,431 | ||
| Cash at bank and in hand |
206,439 | 92,957 | |||
| 390,752 | 203,388 | ||||
| Creditors: amounts | falling | due within one year | 16 | 850,896 | 872,576 |
| Net current liabilities | 460,144 | 669,188 | |||
| Total assets less current | liabilities | 63,218,860 | 63,009,816 | ||
| Creditors: amounts | falling | due after more than one year | 17 | 45,911,537 | 46,217,166 |
| Net assets | 17,307,323 | 16,792,650 | |||
| Funds ofthe charity | |||||
| Unrestricted funds |
17,307,323 | 16,792,650 | |||
| Total charity funds | 19 | 17,307,323 | 16,792,650 |
| Year ended 31 Decem | ber 2022 | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Cash flows from operating | activities | |||
| Net income | 514,673 | 370,242 | ||
| Adjustments for: |
||||
| Dividends, interest and rents from investments |
(2,198,433) | (2,044,894) | ||
| Other interest receivable and similar income |
(44) | |||
| Accrued (income)/expenses | (11,785) | 31,637 | ||
| Changes in: | ||||
| Trade and other debtors | (73,882) | (30,658) | ||
| Trade and other creditors | (17,291) | (222,295) | ||
| Cash generated from operations |
(1,786,762) | (1,895,968) | ||
| Interest paid |
(2,604) | 12,155 | ||
| Interest received | 44 | |||
| Net cash used in operating |
activities | (1,789,322) | (1,883,813) | |
| Cash flows from investing | activities | |||
| Dividends, interest and rents from investments |
2,198,433 | 2,044,894 | ||
| Purchases ofother investments |
(3,540) | |||
| Net cash from investing activities |
2,198,433 | 2,041,354 | ||
| Cash flows from financing | activities | |||
| Proceeds from borrowings | (295,629) | (284,946) | ||
| Net cash used in financing |
activities | (295,629) | (284,946) | |
| Net increase/(decrease) in cash and cash |
equivalents | 113,482 | (127,405) | |
| Cash and cash equivalents | at beginning | ofyear | 92,957 | 220,362 |
| Cash and cash equivalents | at end ofyear | 206,439 | 92,957 |
| member in the event of Investment income |
winding up is |
limited tof10. | |||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| E | |||||
| Income from investment | properties | 2,198,433 | 2,198,433 | 2,044,894 | 2,044,894 |
| Bank interest receivable | 44 | 44 | |||
| 2,198,477 | 2,198,477 | 2,044,894 | 2,044,894 |
| Investme | nt management costs |
||||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| E | E | F | |||
| Property | repairs and maintenance | ||||
| charges | 111,382 | 111,382 | 147,704 | 147,704 | |
| Loan interest | 1,310,453 | 1,310,453 | 1,324,089 | 1,324,089 | |
| Finance | costs | 46,278 | 46,278 | 24,778 | 24,778 |
| Insurance | 55,070 | 55,070 | 39,227 | 39,227 | |
| Commissions | 64,546 | 64,546 | 64,716 | 64,716 | |
| Other costs | 70,338 | 70,338 | 52,110 | 52,110 | |
| 1,658,067 | 1,658,067 | 1,652,624 | 1,652,624 |
| Expend | iture on charitable |
activities by fund type |
|||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Total | Funds | Unrestricted | Total | Funds | ||
| Funds | 2022 | Funds | 2021 | ||||
| E | |||||||
| Grants | payable | 4,800 | 4,800 | 2,500 | 2,500 | ||
| Support | costs | 20,937 | 20,937 | 19,528 | 19,528 | ||
| 25,737 | 25,737 | 22,028 | 22,028 |
| Expenditure | on charitable |
activities by activity type |
|||
|---|---|---|---|---|---|
| Grant funding | Support | Total funds | Total fund | ||
| ofactivities | costs | 2022 | 2021 | ||
| E | |||||
| Grants payable | 4,800 | 4,800 | 2,500 | ||
| Governance | costs | 20,937 | 20,937 | 19,528 | |
| 4,800 | 20,937 | 25,737 | 22,028 |
| Analysis ofgrant |
s | ||
|---|---|---|---|
| 2022 f |
2021 f |
||
| Grants to institutions | |||
| The Work Avenue | Foundation | 3,000 | 2,500 |
| JLE | 1,800 | ||
| 4,800 | 2,500 | ||
| Total grants | 4,800 | 2,500 |
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| f | ||||||||
| Fees | payable | for the audit of | the consolidated | financial | statements | 10,080 | 10,080 | |
| Fees | payable | to | the charity's | auditor and its associates | for other services: | |||
| Other | non-audit | services | 9,717 | 8,376 |
| Investment property |
|
|---|---|
| Investment | |
| properties | |
| Cost or valuation | |
| At 1 January 2022 and 31 December 2022 |
63,679,004 |
| Impairment | |
| At 1 January 2022 and 31 December 2022 |
|
| Carrying amount |
|
| At 31 December 2022 | 63,679,004 |
| At 31 December 2021 | 63,679,004 |
| Subsidiari | es and other invest |
ments | |||
|---|---|---|---|---|---|
| Percentage | |||||
| Class of | ofshares | ||||
| Registered | office | share | held | ||
| Subsidiary | undertakings | ||||
| F.Parham | Limited | 1st Floor Cloister House | Ordinary | 100 | |
| New Bailey | Street | ||||
| Salford | |||||
| M3 5FS | |||||
| Wembley | Metro Limited | 1st Floor Cloister House | Ordinary | 100 | |
| New Bailey | Street | ||||
| Salford | |||||
| M3 5FS | |||||
| Hempstead | Valley Investments | Limited 1st Floor Cloister House | Ordinary | 100 | |
| New Bailey | Street | ||||
| Salford | |||||
| M3 5FS |
| The results | The results | for subsidiaries | and | other undertakings | other undertakings | are as follows: | are as follows: | ||
|---|---|---|---|---|---|---|---|---|---|
| Capital | and reserves | Profit/(loss) | for the year | ||||||
| 2022 f |
2021 | 2022 | 2021 | ||||||
| Subsidiary | undertakings | ||||||||
| F.Parham | Limited | (445,108) | (444,969) | (139) | (169) | ||||
| Wembley | Metro Limited | (511,536) | (418,721) | (92,815) | (240,243) | ||||
| Hempstead | Valley Investments | Limited | (3,359) | (2,502) | (857) | (703) | |||
| Debtors | |||||||||
| 2022 | 2021 | ||||||||
| Prepayments | and accrued | income | 44,331 | 4,241 | |||||
| Other debtors | 139,982 | 106,190 | |||||||
| 184,313 | 110,431 |
| Creditors: amounts f |
alling due within one year | ||
|---|---|---|---|
| 2022 | 2021 | ||
| E | |||
| Bank loans and overdrafts | 330,000 | 320,000 | |
| Trade creditors | 13,602 | 20,084 | |
| Accruals and deferred | income | 426,382 | 440,771 |
| Social security and other taxes | 74,800 | 84,132 | |
| Other creditors | 6,112 | 7,589 | |
| 850,896 | 872,576 |
| Credi | tors: amounts falling due after more tha |
n one year | |
|---|---|---|---|
| 2022 | 2021 | ||
| E | F | ||
| Bank | loans and overdrafts | 39,751,819 | 40,057,448 |
| Other | creditors | 6,159,718 | 6,159,718 |
| 45,911,537 | 46,217,166 |
| Corporation. | Corporation. | ||||||
|---|---|---|---|---|---|---|---|
| 18. | Deferred | income | |||||
| 2022 | 2021 | ||||||
| Amount | deferred | in | year | 250,000 | 250,000 | ||
| Deferred | income | is | all attributable | to the subsidiaries. |
| 19. | Analysis ofc | Analysis ofc | harita | bl | e funds |
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | funds | ||||||||||
| At | At | ||||||||||
| 1 January | 20 | 31 Decembe | |||||||||
| 22 | Income | Expenditure | r2022 | ||||||||
| F | F | ||||||||||
| General | funds | 16,792,650 | 2,198,477 | (1,683,804) | 17,307,323 | ||||||
| At | At | ||||||||||
| 1 | January | 20 | 31 December | ||||||||
| 21 | Income | Expenditure | 2021 | ||||||||
| E | E | E | |||||||||
| General | funds | 16,422,408 | 2,044,894 | (1,674,652) | 16,792,650 | ||||||
| 20. | Analysis | of net assets between funds | |||||||||
| Unrestricted | Total Funds | ||||||||||
| Funds | 2022 | ||||||||||
| Investments | 63,679,004 | 63,679,004 | |||||||||
| Current | assets | 457,324 | 457,324 | ||||||||
| Creditors less | than | 1 | year | (587,468) | (587,468) | ||||||
| Creditors greater than | 1 year | (46,241,537) | (46,241,537) | ||||||||
| Net assets | 17,307,323 | 17,307,323 | |||||||||
| Unrestricted | Total Funds | ||||||||||
| Funds | 2021 | ||||||||||
| Investments | 63,679,004 | 63,679,004 | |||||||||
| Current assets | 269,960 | 269,960 | |||||||||
| Creditors | less | than | 1 | year | (939,148) | (939,148) | |||||
| Creditors | greater than | 1 year | (46,21 7,166) | (46,217,166) | |||||||
| Net assets | 16,792,650 | 16,792,650 |
| Anal | ysis ofchang | es in net debt |
|||
|---|---|---|---|---|---|
| At | At | ||||
| 1 Jan 2022 | Cash flows | 31 Dec 2022 | |||
| Cash | at bank and | in hand | 92,957 | 113,482 | 206,439 |
| Debt | due within one year | (320,000) | (10,000) | (330,000) | |
| Debt | due after one | year | (40,057,448) | 305,629 | (39,751,819) |
| (40,284,491) | 409,111 | (39,875,380) |