2021-06-30-accounts - Frankgiving Limited

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						PAGES
Trustees' annual report			(incorporating	the director's report)		1to 5
Independent	auditor's	report tothe members				6to 10
Consolidated	statement		offinancial activities (including		the consolidated
income and	expenditure		account)
Consolidated	balance	sheet				12
Charity balance sheet						13
Consolidated	statement		ofcash flows			14
Notes to the	financial	statements				15te 31

		F	OR	THE	YEAR	ENDED 30JUNE 2021	ENDED 30JUNE 2021
						2021		2020
						Unrestricted	Funds	Unrestricted	Funds
					Note
Income and endowments
Investment income							1,841,706		1,884,391
Total income							1,841,706		1,884,391
Expenditure
Expenditure on raising funds:
Investment management		costs			6	(988,513)		(982,630)
Expenditure on charitable		activities			7)8	(381,502)		(835,313)
Taxation					10	(351,951)		(395,290)
Total expenditure							(1,721,966)		(2,213,233)
Net gains on investments:
(Loss)/Gains on revaluation			of
investment property						(1,591,000)		164,250
Gains on revaluation of		unlisted
investment						1,621,504		61,128
Gains on disposal	ofinvestment
property Gains on disposal	ofunlisted					124,035		215,910
investment						633
							155,172		441,288
Net income and net	movement			in
funds							274,912		112,446
Reconciliation offunds:
Total funds brought	forward						26,642,757		26,530,311
Total funds carried	forward				22		26,917,669		26,642,757

			2021	2020
		Note
FIXEDASSETS
Investments		15	29,491,947	29,236,285
CURRENT ASSETS
Debtors		17	6,015,507	5,838,792
Cash at bank and in hand			1,767,368	1,625,760
			7,782,875	7,464,552
CREDITORS: amounts	falling due
within one year		18	(849,942)	(650,422)
NET CURRENT ASSETS			6,932,933		6,814,130
TOTAL ASSETSLESS	CURRENT
LIABILITIES			36,424,880	36,050,415
CREDITORS: amounts	falling due
after more than one year		19	(7,845,211)	(8,040,658)
PROVISIONS		21	(1,662,000)	(1,367,000)
NET ASSETS			26,917,669	26,642,757
FUNDS OF THE CHARITY
Unrestricted funds		22	26,917,669	26,642,757
Total charity funds			26,917,669	26,642,757

	BALANCE	SHEE	T ASAT30JUNE 2021
			2021	2020
		Note
FIXEDASSETS
Investments			24,682,453	25,001,038
CURRENT ASSETS
Debtors		17	729,690	704,406
Cash at bank and in hand			1,542,421	961,781
			2,272,111	1,666,187
CREDITORS: amounts	falling due
within one year		18	(37,138)	(24,576)
NET CURRENT ASSETS			2,234,973	1,641,611
NET ASSETS			26,917,426	26,642,649
FUNDS OF THE CHARITY
Unrestricted funds		22	26,917,426	26,642,649
Total charity funds			26,917,426	26,642,649

	FORTH	E	Y	EAR ENDED 30JUNE	2021
						2021	2020
						g
CASH FLOWS FROM	OPERATING	ACTIVITIES
Net income						274,912	112,446
Adjustments for:
Net gains on investments						(155,172)	(441,288)
Dividends, interest and rents from investments						(1,450,017)	(1,470,199)
Interest receivable and similar income						(391,689)	(414,192)
Accrued expenses						(87,428)	73,891
Payments for expenditure	on investment	properties				282,796	185,435
Payments for expenditure	on other investment					150,002	188,103
Interest payable and similar charges						519,852	565,980
Current and deferred tax						351,951	395,290
Changesin:
Trade and other debtors						(77,816)	58,566
Trade and other creditors						86,893
Cash (used in)/generated	from operations					(495,716)	(745,968)
Interest received						2,696	10,550
Tax paid						(56,951)	(290)
Net cash used in operating	activities					(549,971)	(735,708)
CASH FLOWS FROM	INVESTING ACTIVITIES
Dividends, interest and rents from investments						1,774,281	2,295,936
Cash receipts from the repayment ofadvances				and loans		4,828	674,319
Purchases ofother investments						(438,234)	(3,424,674)
Proceeds from sale ofinvesnnent properties						124,035	215,910
Proceeds from sale ofother investments						213,709	122,103
Payments for expenditure	on investment	properties				(282,796)	(185,435)
Payments for expenditure	on other investments					(150,002)	(188,103)
Net cash generated/(used	in) from investing		activities			1,245,821	(489,944)
CASH FLOWS FROM FINANCING		ACTIVITIES
Repayments ofborrowings Interest paid						(75,912) (478,330)	(193,999) (437,530)
Net cash used in financing	activities					(554,242)	(631,529)
NET INCREASE/(DECREASE) IN CASH				AND CASH
EQUIVALENTS CASH AND CASH EQUIVALENTS AT			BEGINNING OFYEAR			141,608 1,625,760	(1,857,181) 3,482,941
CASH AND CASH EQUIVALENTS AT			END OFYEAR		27	1,767,368	1,625,760

INVESTMENT INCOME
			Unrestricted	Funds
			2021	2020
Rent and charges receivable Income from unlisted investment			1,106,315 214,262	1,050,402 289,391
Interest receivable from unlisted	investment		23,486	20,562
Dividends receivable from unlisted		investment	105,954	109,844
Bank interest receivable			2,696	10,550
Loan interest receivable			388,993	403,642
			1,841,706	1,884,391

INVESTMENT MANAGEMENT	INVESTMENT MANAGEMENT	INVESTMENT MANAGEMENT	COSTS
				Unrestricted	Funds
				2021	2020
Investment Management	property outgoings and administration			282,796 35,872	185,435 21,943
Investment portfolio Interest payable		management	fees	150,002 519,843	188,103 587,149
				988,513	982,630

EXPEN	DITURE ON CH	ARITABLE ACTIVITIES	BYFUND	TYPE
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
Grants Support	paid costs	340,852 40,650	340,852 40,650	821,339 13,974	821,339 13,974
		381,502	381,502	835,313	835,313

EXPENDIT	URE ON CHAR	ITABLE ACTIVITIES	BYACTIV	ITY TYPE
		Grant
		funding of	Support	Total Funds	Total Funds
		activities	costs	2021	2020
Grants paid Governance	costs	340,852	40,650	340,852 40,650	821,339 13,974
		340,852	40,650	381,502	835,313

ANALYSIS OF GR	ANTS
		2021	2020
GRANTS TO INSTITUTIONS
Support of education	and relief ofpoverty	340,852	821,339
Total grants		340,852	821,339

Acheinu Limited	22,000
Beis Aharon Trust Limited	4,180
BeisRuchel School Limited	9,000
Beis Soroh Schneirer of Golders Green Limited	22,500
Beth Jacob Grammar School for Girls Limited	18,000
Bnos Beis Yaakov Primary School Limited	3,000
Chevras Mo'oz Ladol	8,150
Ezer Viznitz Foundation	3,000
Friends ofBeis Chinuch Lebonos Trust	30,000
Friends ofBeis Soroh Schneirer	10,000
Friends ofMercaz Hatorah Belz Macnivka	10,000
Friends ofToldos Avrohom Yitzchok	5,000
Inspirations	7,100
Mekor Hachinuch	6,003
Mifal Hachesed Vehatzedokoh	40,000
Moreshet Hatorah Limited	50,500
One Heart —Lev Echod	15,000
The Woodstock Mikvah Limited	13,000
United Talmudical Academy Torah V'yirah	13,499
UTRY	20,000
YGS Yeshiva Gedola Seminar	4,500
Yetev Lev London Jerusalem Trust	9,000
Sundry donations less than f3,000 individually	17,420
	340,852

TAXATION
	2021	2020
Current tax:
UK current tax expense	47,557
Adjustments in respect ofprior periods	9,394	290
Total current tax	56,951	290
Deferred tax:
Origination and reversal oftiming differences	(136,684)	280,647
Impact ofchanges in tax rates	431,684	114,353
Total deferred tax	295,000	395,000
Tax on profit	351,951	395,290

The tax assessed on the net income for the year is lower than tax in the UK of19%(2020:19%).	the standard rate of	corporation
	2021	2020
Net income before tax	626,863	507,736
Net income by rate oftax Income exempt from tax Expenses not deductible for tax purposes Adjustment to tax charge in respect ofprior periods Impact ofchanges in tax rates Timing differences on unrealised gains Timing differences on gift aid payments Other differences	119,104 (242,257) 116,469 9,394 431,684 (162,433) 79,990	96,470 (258,034) 208,767 290 114,353 237,826 4,940 (9,322)
Taxation	351,951	395,290

INVESTMENTS
	Freehold/
	Leasehold		Unlisted
	investment	Unlisted	investm eat
Group	property	investment*	(Loan)	Total
Fair value/cost
At 1 July 2020 Additions	16,459,450	10,102,928 223,972	2,673,907 214,262	29,236,285 438,234
Disposal		(160,663)	(52,413)	(213,076)
Revaluation	(1,591,000)	1,726,518	(105,014)	30,504
At30June 2021	14,868,450	11,892,755	2,730,742	29,491,947
At 30June 2020	16,459,450	10,102,928	2,673,907	29,236,285
Historical cost at 30June 2021	4,671,071	9,553,968	2,835,756	17,060,795

	Freehold/
	Leasehold	Shares in		Unlisted
	investment	group	Unlisted	investment
Charity	properly	undertakings	investment*	(Loan)	Total
	K
Fair value/cost
At 1 July 2020 Additions	471,450	12,761,000	10,102,928 129,379	1,665,660 214,262	25,001,038 343,641
Disposal Revaluation		(2,183,000)	(150,002) 1,723,189	(52,413)	(202,415) (459,811)
At 30June 2021	471,450	10,578,000	11,805,494	1,827,509	24,682,453
At 30June 2020	471,450	12,761,000	10,102,928	1,665,660	25,001,038
Historical cost at
30June 2021	27,803	102	9,470,036	1,827,509	11,325,450

England a	nd Wales (un	less otherwise in	dicated).
			Company
			Number
Held directly:
Spiritville	Investments	Limited	1241065
Heysarbor	Investments	Limited	0702850
Held indirectly:

were as fol	lows:
				2001
				Nostrand
		Spiritville	Heysarbor	Ave
		Investments	Investments	Investors
		Limited	Limited	Corp.
Fixed assets		10,928,360	5266000	903,233
Current assets		4,472,469	3,732,251	769
Current liabilities		(333,345)	(1,586,047)	(113,457)
Long term Provisions	liabilities	(5,471,363) (1,205,000)	(2,990,413) (451,000)	(724,296)
Net assets		8,391,121	3,970,791	66,249
Aggregate	capital and reserves	8,391,121	3,970,791	66,249

A summary follows;	oftur	nover,	expenditure a	nd	profit/(los	s) for the year en		ded 30 June 2	021 is as
									2001
									Nostrand
						Spiritville		Heysarbor	Ave
						Investments	Investments		Investors
						Limited		Limited	Corp.
Turnover						833,931		251,634
Cost ofsales						(167,275)		(106,636)
Administrative	expenses					(103,264)		(24,457)	5,146
Profit on disposal other invesnnents		of investment property			and	46,410		43,660
Profit on disposal of other investments Net valuation gains/(loss) on investment				property				633 (1,591,000)
Net valuation	gains/(loss)		on other investments					3,329
Income from	other	fixed	asset investments					61
Interest receivable		and similar income				228,631		210,885
Interest payable and similar charges Tax						(343,943) (311,193)		(200,909) (40,758)	(57,944)
Profit/(Loss)	for the financial year					183,297		(1,453,558)	(52,798)

DEBTORS
		Group		Charity
		2021	2020	2021	2020
					f.
Trade debtors		184,069	105,686	1,877	3,331
Amount due undertakings Loan debtors	f'rom group	5,464,015	5,468,843	500,000 170,000	500,000 170,000
Taxation and Prepayments	social security and accrued income	4,961 362,462	5,528 258,735	57,813	31,075
		6,015,507	5,838,792	729,690	704,406

CREDITORS: amounts faling due	within one year
	Group		Charity
	2021	2020	2021	2020
Bank loans and overdrafts	401,530	284,965
Loan creditors	2,970
Taxation and social security Accruals and deferred income	68,873 355,196	362,104	36,662	24,000
Other creditors	21,373	3,353	476	576
	849,942	650,422	37,138	24,576

19.	CREDITORS: amou	nts falling	due aft	er	more than o	more than o	ne yea	r
					Group				Charity
					2021		2020		2021	2020
					g		g
	Bank loans and overdrafts			7,845,211		8,040,658
	The bank loans and	overdratts	is secured		by legal	charges		over	certain of the	group's
	investment properties	which are included		in	the Financial		Statements.
	Amounts are payable	as follows:			Group				Charity
					2021		2020		2021	2020
	In more than one year	but not
	more than two years			7,845,211			275,100
	In more than two years but not
	more than five years					7,765,558
	In five years or more
20.	DEFERRED INCOME
									2021	2020
	At 1 July 2020 Amount released to income								17,188 (17,188)	47,653 (47,653)
	Amount deferred in year								56,186	17,188
	At 30June 2021								56,186	17,188
	Deferred income arises from rents received				in advance.

PROVISIONS
Deferred tax:
	Group	Charity
At 1 July 2020 Charge for the year	1,367,000 295,000
At 30 June 2021	1,662,000

ANALYSIS OFNET ASSETS B	ETWEEN FUNDS	ETWEEN FUNDS
	Group		Charity
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2021
Investments	29,491,947	29,491,947	24,682,453	24,682,453
Current assets	7,782,875	7,782,875	2,272,111	2,272, 111
Creditors less than 1 year	(849,942)	(849,942)	(37,138)	(37,138)
Creditors greater than 1 year	(7,845,211)	(7,845,211)
Provisions	(1,662,000)	(1,662,000)
Net assets	26,917,669	26,917,669	26,917,426	26,917,426

The carrying	The carrying	amount for each	amount for each	amount for each	category	offinancial instrument	offinancial instrument	follows:
						Group		Charity
						2021	2020	2021	2020
								K	K
Financial	assets		measured at fair
value through expenditure			income	and		12,795,988	10,102,928	22,383,494	22,863,928
Financial	assets		that are equity
instruments		measured		at cost less
impairment						1,827,509	2,673,907	1,827,509	1,665,660
Financial	assets		that are debt
instruments		measured		at
amortised		cost				7,782,875	7,464,552	2,272,111	1,666,187
Financial	liabilities measured				at
amortised		cost				8,695,153	8,691,080	37,138	24,576

are as follo	ws:
		Group		Charity
		2021	2020	2021	2020
Not later than 1year		785,099	319,919	6,972	6,948
Later than 5years Later than	1 year and not later than 5 years	1,291,158 1,764,047	1,085,735 1,477,481	7,155 161,019	6,735 126,210
		3,840,304	2,883,135	175,146	139,893

		2021	2020
Cash	at bank and in hand	1,767,368	1,625,760
Bank	overdress
		1,767,368	1,625,760

		2021	2021	2020
		Unrestricted	Funds	Unrestricted	Funds
Income and endowments
Donations and legacies			840,000		866,000
Investment income			401,012		481,804
Total income			1,241,012		1,347,804
Expenditure
Expenditure on raising funds:
Investment management costs		(158,887)		(195,956)
Expenditure on charitable activities		(381,502)		(835,313)
Total expenditure			(540,389)	(1,031,269)
Net (loss)/gains on investments:
Loss on revaluation ofinvestments
in group undertakings		(2,183,000)		(276,000)
Gains on revaluation ofunlisted
investment		1,723,189		61,128
Gains on disposal of investment property		33,965		10,270
			(425,846)		(204,602)
Net income and net movement	in funds		274,777		111,933
Reconciliation offunds:
Total funds brought forward			26,642,649	26,530,716
Total funds carried forward			26,917,426	26,642,649