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|||||||||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|
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|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|||
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|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|
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||||||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|
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|||||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|
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|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|
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|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|
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|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|
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|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|
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|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|
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|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|
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||||||||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|
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|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|
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|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||||
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|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|
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|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|
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||Corporation.|Corporation.||||||
|---|---|---|---|---|---|---|---|
|18.|Deferred|income||||||
|||||||2022|2021|
||Amount|deferred|in|year||250,000|250,000|
||Deferred|income|is|all attributable|to the subsidiaries.|||
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|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|
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|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)|
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