2023-03-31-accounts - Mowbray Buildings Ltd

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REGISTERED COMPANY NUMBER: 11893636 (England and Wales) REGISTERED CHARITY NUMBER: 1186963

REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

MOWBRAY BUILDINGS LTD

Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL

MOWBRAY BUILDINGS LTD

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

		Page
Reference and Administrative Details		1
Report of the Trustees	2	to	3
Statement of Trustees' Responsibilities		4
Report of the Independent Auditors	5	to	7
Statement of Financial Activities		8
Statement of Financial Position	9	to	10
Statement of Cash Flows		11
Notes to the Statement of Cash Flows		12
Notes to the Financial Statements	13	to	19

MOWBRAY BUILDINGS LTD

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2023

TRUSTEES

J Bamberger Company Director M Cohen Company Director T Grosskopf Company Director P Adler Company Director

REGISTERED OFFICE

8 Broadhurst Avenue Edgware Middlesex HA8 8TR

REGISTERED COMPANY NUMBER

11893636 (England and Wales)

REGISTERED CHARITY 1186963 NUMBER INDEPENDENT AUDITORS Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL

INDEPENDENT AUDITORS

Page 1

MOWBRAY BUILDINGS LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The principal activities of the charitable company in the year under review were that of the advancement of education and religious practice in accordance with the teachings of the Orthodox Jewish faith,and the relief of poverty. This is mainly achieved through the ownership and construction of buildings used by schools to provide high level education.

The financial results of the Charitable Company's activities for the year ended 31 March 2023 are fully reflected in the attached financial statements together with the notes thereon.

Significant activities

Mowbray buildings have embarked on an ambitious extension of the Tashbar school site to be able to house 400 children with a new state-of-the-art building incorporating an assembly dining hall. This will greatly enhance the value of the property and will be a tremendous asset for the charity. Additionally, we are working on purchasing another site which will be able to house the sister school of Tashbar which is currently housed on the Mowbray Road site.

During the period the charity generated rental income of £120,000 (2022: £120,000) and donation income of £1,317,638 (2022: £646,631).

Public benefit

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aim and objectives and in planning the charity's future activities. The aims of the charitable company for the public benefit are detailed in the Objectives and Activities section of the report.

Volunteers

The charity is ran solely by volunteers and the Trustees, none of the charity's work was undertaken by paid employees in the period.

STRATEGIC REPORT

Achievement and performance

Key Performance Indicators

The trustees monitor the entity's performance against its objectives on a regular basis. Performance is assessed against the objectives and expectations using financial and non-financial indicators. The current key financial performance indicators used by the charity are rental income generated and donation income gained.

Investment performance

The investment income received during the period was income specifically in the form of rent from the investment property held.

Financial review

Reserves policy

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely administrative costs of the charity for the next year.

Going concern

The trustees have a reasonable expectation that the charity has adequate support and reserves to continue operational existence for the foreseeable future. For this reason, the charity has adopted the going concern basis of accounting in preparing the annual financial statements

Future plans

There are no current plans to change the activities or modus operandi in the foreseeable future.

Page 2

MOWBRAY BUILDINGS LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, its memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The power to appoint new trustees vests with the current board. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures

Related parties

Transactions with related parties are disclosed in the notes to the financial statement wherever necessary.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Systems of internal controls are designed to provide reasonable, but not absolute, assurance against material misstatement or loss.

The trustees pay particular attention to the financial sustainability. The trustees regularly review the available funding sources to ensure that the charity has sufficient funds to meet its short term working capital needs and sustainable funding sources to meet its mid to long term obligations.

The principle risks are financial including items such as loss of rental income received.

STREAMLINED ENERGY AND CARBON REPORTING

The trustees ensure that the activities of the charity are performed in a way that has as little damaging effect on the environment as possible

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 18 December 2023 and signed on the board's behalf by:

J Bamberger - Trustee

Page 3

MOWBRAY BUILDINGS LTD

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2023

The trustees (who are also the directors of Mowbray Buildings Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards 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 charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

there is no relevant audit information of which the charitable company's auditors are unaware; and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

Page 4

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF MOWBRAY BUILDINGS LTD

Opinion

We have audited the financial statements of Mowbray Buildings Ltd (the 'charitable company') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
the charitable company has not kept adequate accounting records; or
the financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.

Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF MOWBRAY BUILDINGS LTD

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity through discussion with the trustees and identified financial reporting legislation and charity legislation as being most significant to these financial statements. These included but were not limited to FRS 102, Charities Act 2011, Companies Act 2006, Data protection legislation and Health & Safety laws as they affect the direct charitable activities of the charity.
We communicated these identified frameworks amongst our audit team and remained alert to any indications of non-compliance throughout the audit. We ensured that the engagement team had sufficient competence and capability to identify or recognise non-compliance with laws and regulations.
We discussed with the trustees the policies and procedures regarding compliance with these legal and regulatory frameworks.
We assessed the susceptibility of the charity's financial statements to material misstatement due to non-compliance with legal and regulatory frameworks, including how fraud might occur, by enquiry with the trustees during the planning and finalisation stages of our audit. Specific areas identified were the completeness of income and going concern.
Based on this understanding, we designed our audit procedures to identify non-compliance with the identified legal and regulatory frameworks, which were part of our procedures on the related financial statement items. We performed appropriate audit testing on the recognition and completeness of income and management’s assessment of going concern.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF MOWBRAY BUILDINGS LTD

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

M A Venitt (Senior Statutory Auditor)

for and on behalf of Venitt and Greaves Chartered Accountants Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 115 Craven Park Road South Tottenham London N15 6BL

Date Signed: 18 December 2023

Page 7

MOWBRAY BUILDINGS LTD

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Raising funds 4 Charitable activities Charitable activities Other Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	31.3.23 Unrestricted fund £ 1,317,638 120,000 1,437,638 47,809 - 7,169 54,978 1,071,795 2,454,455 1,173,881 3,628,336	Unaudited 31.3.22 Total funds £ 646,631 120,000
		766,631
		29,183 7,093 959
		37,235
		-
		729,396 444,485
		1,173,881

The notes form part of these financial statements

Page 8

MOWBRAY BUILDINGS LTD

STATEMENT OF FINANCIAL POSITION 31 MARCH 2023

Notes FIXED ASSETS Tangible assets 9 Investment property 10 CURRENT ASSETS Debtors 11 Cash at bank CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 13 NET ASSETS FUNDS 16 Unrestricted funds: General fund TOTAL FUNDS	31.3.23 Unrestricted fund £ 1,704,235 2,500,000 4,204,235 221,000 363,983 584,983 (322,352) 262,631 4,466,866 (838,530) 3,628,336 3,628,336 3,628,336	Unaudited 31.3.22 Total funds £ - 1,428,205 1,428,205 161,000 593,338 754,338 (123,759) 630,579 2,058,784 (884,903) 1,173,881 1,173,881 1,173,881

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

The financial statements were approved by the Board of Trustees and authorised for issue on 18 December 2023 and were signed on its behalf by:

The notes form part of these financial statements

continued...

Page 9

MOWBRAY BUILDINGS LTD

STATEMENT OF FINANCIAL POSITION - continued 31 MARCH 2023

J Bamberger - Trustee

M Cohen - Trustee

P Adler - Trustee

T Grosskopf - Trustee

The notes form part of these financial statements

Page 10

MOWBRAY BUILDINGS LTD

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Purchase of investment property Net cash used in investing activities Cash flows from financing activities Loan repayments in year Net cash used in financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period	31.3.23 £ 1,548,679 (44,423) 1,504,256 (1,704,235) - (1,704,235) (29,376) (29,376) (229,355) 593,338 363,983	Unaudited 31.3.22 £ 594,550 (26,033) 568,517 - (96,420) (96,420) (42,100) (42,100) 429,997 163,341 593,338

The notes form part of these financial statements

Page 11

MOWBRAY BUILDINGS LTD

NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Losses on investments Interest paid Increase in debtors Increase in creditors Net cash provided by operations 2. ANALYSIS OF CHANGES IN NET DEBT At 1.4.22 £ Net cash Cash at bank 593,338 593,338 Debt Debts falling due within 1 year (68,133) Debts falling due after 1 year (884,903) (953,036) Total (359,698)	31.3.23 £ 2,454,455 (1,071,795) 44,423 (60,000) 181,596 1,548,679 Cash flow £ (229,355) (229,355) (16,997) 46,373 29,376 (199,979)	Unaudited 31.3.22 £ 729,396 - 26,033 (161,000) 121 594,550 At 31.3.23 £ 363,983 363,983 (85,130) (838,530) (923,660) (559,677)

The notes form part of these financial statements

Page 12

MOWBRAY BUILDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investment properties which are included at fair value. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent

from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Governance costs

Governance costs are associated with the governance arrangements of the charity and relate to the general running of the charity. These costs include audit, legal advice for Trustees and costs associated with meeting constitutional and statutory requirements such as the costs of Trustee meetings and the preparation of the statutory accounts.

Tangible fixed assets

Construction Work-in-Progress is held at cost and there is no depreciation of the accumulated costs until the project is completed and the asset is placed into service.

Investment property

Investment properties are held at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 13

MOWBRAY BUILDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES - continued

Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks'.

Financial instruments

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. DONATIONS AND LEGACIES

2. DONATIONS AND LEGACIES
Donations 3. INVESTMENT INCOME Rents received 4. RAISING FUNDS Investment management costs Insurance Interest payable and similar charges 5. SUPPORT COSTS Finance £ Other resources expended 269 6. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Auditors' remuneration	31.3.23 £ 1,317,638 31.3.23 £ 120,000 31.3.23 £ 3,386 44,423 47,809 Governance costs £ 6,900 31.3.23 £ 6,900	Unaudited 31.3.22 £ 646,631
		Unaudited 31.3.22 £ 120,000 Unaudited 31.3.22 £ 3,150 26,033 29,183 Totals £ 7,169 Unaudited 31.3.22 £ -

continued...

Page 14

MOWBRAY BUILDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable activities Charitable activities Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 9. TANGIBLE FIXED ASSETS COST Additions NET BOOK VALUE At 31 March 2023 At 31 March 2022		Unaudited Unrestricted fund £ 646,631 120,000 766,631 29,183 7,093 959 37,235 729,396 444,485 1,173,881 Construction WIP £ 1,704,235 1,704,235 -

continued...

Page 15

MOWBRAY BUILDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

10. INVESTMENT PROPERTY

INVESTMENT PROPERTY
	£
FAIR VALUE
At 1 April 2022	1,428,205
Revaluation	1,071,795
At 31 March 2023	2,500,000
NET BOOK VALUE
At 31 March 2023	2,500,000
At 31 March 2022	1,428,205
Fair value at 31 March 2023 is represented by:
	£
Valuation in 2022	1,428,205
Valuation in 2023	1,071,795
	2,500,000
If the investment property had not been revalued it would have been included at the following historical cost:

31.3.23
£
Cost
1,428,205
Aggregate depreciation
(81,836)
The investment property was valued on a fair value basis on 31 March 2023 by the Trustees.
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23
£
Prepayments
221,000
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23
£
Bank loans and overdrafts (see note 14)
85,130
Trade creditors
175,537
Other creditors
54,785
Accrued expenses
6,900
322,352

31.3.22
£
1,331,785
(53,271)
Unaudited
31.3.22
£
161,000
Unaudited
31.3.22
£
68,133
-
54,786
840
123,759

continued...

Page 16

MOWBRAY BUILDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

13.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
				Unaudited
		31.3.23		31.3.22
			£	£
	Bank loans (see note 14)	838,530		884,903
14.	LOANS
	An analysis of the maturity of loans is given below:
				Unaudited
		31.3.23		31.3.22
			£	£
	Amounts falling due within one year on demand:
	Bank loans		85,130	68,133
	Amounts falling between one and two years:
	Bank loans - 1-2 years		85,130	68,133
	Amounts falling due between two and five years:
	Bank loans - 2-5 years	255,391		204,398
	Amounts falling due in more than five years:
	Repayable by instalments:
	Bank loans more 5 yr by instal	100,057		148,212
	Repayable otherwise than by instalments:
	Bank loans more 5 yrs non-inst	397,952		464,160
15.	SECURED DEBTS
	The following secured debts are included within creditors:
				Unaudited
		31.3.23		31.3.22
			£	£
	Bank loans	923,660		953,036

Bank Loans are secured by a first charge over the charity's investment property and bear interest at variable rates.

16. MOVEMENT IN FUNDS

Unrestricted funds General fund TOTAL FUNDS	At 1.4.22 £ 1,173,881 1,173,881	Net movement in funds £ 2,454,455 2,454,455	At 31.3.23 £ 3,628,336
			3,628,336

continued...

Page 17

MOWBRAY BUILDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

16. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds General fund TOTAL FUNDS	Incoming resources £ 1,437,638 1,437,638	Resources expended £ (54,978) (54,978)	Gains and losses £ 1,071,795 1,071,795	Movement in funds £ 2,454,455 2,454,455

Comparatives for movement in funds (Unaudited)

Unrestricted funds General fund TOTAL FUNDS	At 1.4.21 £ 444,485 444,485	Net movement At in funds 31.3.22 £ £ 729,396 1,173,881 729,396 1,173,881	Net movement At in funds 31.3.22 £ £ 729,396 1,173,881 729,396 1,173,881
			1,173,881

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund TOTAL FUNDS	Incoming resources £ 766,631 766,631	Resources Movement expended in funds £ £ (37,235) 729,396 (37,235) 729,396

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund TOTAL FUNDS	At 1.4.21 £ 444,485 444,485	Net movement in funds £ 3,183,851 3,183,851	At 31.3.23 £ 3,628,336
			3,628,336

continued...

Page 18

MOWBRAY BUILDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

16. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming resources £ Unrestricted funds General fund 2,204,269 TOTAL FUNDS 2,204,269 17. CAPITAL COMMITMENTS Contracted but not provided for in the financial statements	Resources expended £ (92,213) (92,213)	Gains and losses £ 1,071,795 1,071,795 31.3.23 £ 167,690	Movement in funds £ 3,183,851 3,183,851 Unaudited 31.3.22 £ -

18. RELATED PARTY DISCLOSURES

During the period ending 31 March 2023 the charity received donations totalling £167 from Mr P Adler (Trustee). In addition the charity received a donation of £15,000 from an entity in which Mr T Grosskopf (Trustee) is a Director.

No other related party transactions have been noted during the period ended 31 March 2023.

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