2022-06-30-accounts - Frankgiving Limited

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					PAGES
Trustees' annual report		(incorporating	the director's report)		1to 5
Independent	auditor's report to the 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				15to31

	F	OR	THE	YEAR	ENDED 30JUNE 2022	ENDED 30JUNE 2022
					2022		2021
					Unrestricted	Funds	Unrestricted	Funds
				Note
Income and endowments
Donations received						1,000
Investment income						2,561,634		1,841,706
Total income						2,562,634		1,841,706
Expenditure
Expenditure on raising funds:
Investment management	costs			6	(828,542)		(988,513)
Expenditure on charitable	activities			7,8	(350,694)		(381,502)
Taxation				10	(59,076)		(351,951)
Total expenditure						(1,238,312)		(1,721,966)
Net gains on investments:
Gains/(Loss) on revaluation		of
investment property					100,000		(1,591,000)
(Loss)/Gains on revaluation		of
unlisted investment					(528,810)		1,621,504
Gains on disposal ofinvestment
properly					92,997		124,035
(Loss)/Gains on disposal	ofunlisted
investment					(2,603)		633
						(338,416)		155,172
Net income and net movement			in
funds						985,906		274,912
Reconciliation offunds:
Total funds brought forward						26,917,669		26,642,757
Total funds carried forward				22		27,903,575		26,917,669

			2022	2021
		Note
FIXEDASSETS
Investments			29,140,069	29,491,947
CURRENT ASSETS
Debtors		17	5,016,731	6,015,507
Cash at bank and in hand			655,977	1,767,368
			5,672,708	7,782,875
CREDITORS: amounts	falling due
within one year		18	(5,219,202)	(849,942)
NET CURRENT ASSETS			453,506	6,932,933
TOTAL ASSETSLESS	CURRENT
LIABILITIES			29,593,575	36,424,880
CREDITORS: amounts	falling due
after more than one year		19		(7,845,211)
PROVISIONS		21	(1,690,000)	(1,662,000)
NET ASSETS			27,903,575	26,917,669
FUNDS OF THE CHARITY
Unrestricted funds		22	27,903,575	26,917,669
Total charity funds			27,903,575	26,917,669

			2022	2021
		Note
FIXEDASSETS
Investments		15	24,782,640	24,682,453
CURRENT ASSETS
Debtors		17	2,758,575	729,690
Cash at bank and in hand			399,667	1,542,421
			3,158,242	2,272,111
CREDITORS: amounts	falling due
within one year		18	(37,651)	(37,138)
NET CURRENT ASSETS			3,120,591	2,234,973
NET ASSETS			27,903,231	26,917,426
FUNDS OF THK CHARITY
Unrestricted funds		22	27,903,231	26,917,426
Total charity funds			27,903,231	26,917,426

			Note	2022	2021
				E
CASH FLOWS FROM OPERATING	ACTIVITIES
Net income				985,906	274,912
Adjustments for:
Net loss/(gains) on investments Dividends, interest and rents from investments				338,416 (1,383,426)	(155,172) (1,450,017)
Interest receivable and similar income				(322,658)	(391,689)
Accrued expenses Payments for expenditure on investment	properties			4,742 206,021	(87,428) 282,796
Payments for expenditure on other investment				158,274	150,002
Interest payable and similar charges Current and deferred tax				420,499 59,076	519,852 351,951
Changesin: Trade and other debtors				66,165	(77,816)
Trade and other creditors				571	86,893
Cash generated from/(used in) operations				533,586	(495,716)
Interest received				150	2,696
Tax paid				(31,076)	(56,951)
Net cash from/(used in) operating activities				502,660	(549,971)
CASH FLOWS FROM INVESTING	ACTIVITIES
Dividends, interest and rents from investments				1,451,681	1,774,281
Cash receipts from the repayment ofadvances Purchases ofother investments		and loans		1,155,870 (2,133,342)	4,828 (438,234)
Proceeds from sale of investment properties				772,997	124,035
Proceeds from sale ofother investments				1,373,807	213,709
Payments for expenditure on investment properties Payments for expenditure on other investments				(206,021) (158,274)	(282,796) (150,002)
Net cash generated from investing activities				2,256,718	1,245,821
CASH FLOWS FROM FINANCING	ACTIVITIES
Repayments ofborrowings Interest paid				(3,278,427) (592,342)	(75,912) (478,330)
Net cash used in financing activities				(3,870,769)	(554,242)
NKT (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT BEGINNING OFYEAR				(1,111,391) 1,767,368	141,608 1,625,760
CASH AND CASH EQUIVALENTS	AT END OFYEAR		27	655,977	1,767,368

INVESTMENT INC	OME
				Unrestricted	Funds
				2022	2021
				g	g
Rent and charges receivable				1,059,819	1,106,315
Income from unlisted	investtnent			164,209	214,262
Interest receivable from unlisted		investment		27,240	23,486
Dividends receivable	from unlisted		investment	132,158	105,954
Bank interest receivable				150	2,696
Loan interest receivable				322,508	388,993
Foreign exchange gain				63,063
Release ofdebt				792,487
				2,561,634	1,841,706

INVESTMKNT MANAGEMENT	INVESTMKNT MANAGEMENT	INVESTMKNT MANAGEMENT	COSTS
				Unrestricted	Funds
				2022	2021
Investment	property	outgoings		206,021	282,796
Management and administration Investment portfolio management Interest payable			fees	43,748 158,274 420,499	35,872 150,002 519,843
				828,542	988,513

EXPEN	DITURE ON CH	ARITABLE ACTIVITIES	BYFUND	TYPE
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2022	Funds	2021
				g	g
Grants Support	paid costs	324,200 26,494	324,200 26,494	340,852 40,650	340,852 40,650
		350,694	350,694	381,502	381,502

EXPENDIT	URE ON CHAR	ITABLE ACTIVITIES	BYACTIV	ITY TYPE
		Grant
		funding of	Support	Total Funds	Total Funds
		activities	costs	2022	2021
				g
Grants paid Governance	costs	324,200	26,494	324,200 26,494	340,852 40,650
		324,200	26,494	350,694	381,502

ANALYSIS OFGRANTS
	2022	2021
GRANTS TO INSTITUTIONS
Support of education and relief ofpoverty	324,200	340,852
Total grants	324,200	340,852

Acheinu Limited			24,000
Beer Hatorah			4,680
Bayis Lepleitos			5,000
BeisRuchel School Limited			9,000
Beis Yaakov Primary School	Foundation		4,000
Beth Jacob Grammar School	for Girls	Limited	8,500
Chevras Mo'oz Ladol			10,700
Comet Charity Ltd			6,000
Friends ofBeis Chinuch Lebonos Trust			20,000
Friends ofBeis Soroh Schneirer			45,500
Friends ofMercaz Hatorah Belz Macnivka			15,000
Friends ofToldos Avrohom	Yitzchok		8,500
Gateshead Talmudical College			4,000
Meor David			4,000
One Heart —Lev Echod			10,000
Revach Vehazola Trust			8,270
Sharei Chaim			6,000
Tchabe Kollel Limited			6,000
The Bais Rochel Dsatmar Charitable		Trust	5,000
The Rehabilitation Trust			20,100
Tomchei Yotzei Anglia			5,000
United Talmudical Academy	Torah V'yirah		13,500
United Talmudical Associates Ltd			41,000
YGS Yeshiva Gedola Seminar			4,000
Yeshivat Meharash Engel Radomishl Yetev Lev London Jerusalem Trust			5,750 8,500
Sundry donations less than I3,000 individually			22,200
			324,200

TAXATION
	2022	2021
	g
Current tax:
UK current tax expense	31,069	47,557
Adjustments in respect ofprior periods	7	9,394
Total current tax	31,076	56,951
Deferred tax:
Origination and reversal oftiming differences	28,000	(136,684)
Impact ofchanges in tax rates		431,684
Total deferred tax	28,000	295,000
Tax on profit	59,076	351,951

The tax assessed on the net income for the year tax in the UK of19%(2021:19%).	the standard rate of	corporation
	2022	2021
	g	g
Net income before tax	1,044,982	626,863
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 Differences arising from taxation ofchargeable gains Timing differences on unrealised gains Timing differences on gift aid payments	198,547 (338,322) 137,172 7 (11,184) 109,474 (36,480)	119,104 (242,257) 116,469 9,394 431,684 (162,433) 79,990
Other differences	(138)
Taxation	59,076	351,951

INVESTMENTS
	Freehold/
	Leasehold		Ualisted
	investment	Unlisted	investment
Group	property	investment*	(Loan)	Total
Fair value/cost
At 1 July 2021 Additions	14,868,450	11,892,755 659,398	2,730,742 1,473,944	29,491,947 2,133,342
Disposal	(680,000)	(1,246,410)	(130,000)	(2,056,410)
Revaluation	100,000	(651,106)	122,296	(428,810)
At 30June 2022	14,288,450	10,654,637	4,196,982	29,140,069
At 30June 2021	14,868,450	11,892,755	2,730,742	29,491,947
Historical cost at 30June 2022	4,011,348	8,970,285	4,179,700	17,161,333

	Freehold/
	Leasehold	Shares in		Unlisted
Charity	investment property	group undertakings	Unhsted investment*	investment (Loan)	Total
		K
Fair value/cost
At 1 July 2021 Additions	471,450	10,578,000	11,805,494 658,523	1,827,509 117,044	24,682,453 775,567
Disposal Revaluation		1,264,000	(1,158,274) (651,106)	(130,000)	(1,288,274) 612,894
At 30June 2022	471,450	11,842,000	10,654,637	1,814,553	24,782,640
At 30June 2021	471,450	10,578,000	11,805,494	1,827,509	24,682,453
Historical cost at
30June 2022	27,803	102	8,970,285	1,814,553	10,812,743

England and Wales (u	nless	otherwise indicat	ed).
			Company
			Number
Held directly:
Spiritville Investments	Limited		1241065
Heysarbor Investments	Limited		0702850
Held indirectly:
2001 Nostrand Ave Investors		Corp. (USA)	5575356
Meridian US Investment	2021 Inc. (USA)		6322825
Meadowood Hillcrest SILUS		Inc. (USA)	6435707

were as f	ollows:
						2001
		Spiritville	Heysarbor	Nostrand		Ave	Meridian US	Meadowood
		Investments	Investments		Investors		Investment	Hillcrest SIL
		Limited	Limited			Corp.	2021 Inc.	US Inc.
Fixed assets		11,891,652	3,425,000		1,025,529		287,827	1,069,073
Current assets		3,834,999	2,405,963			627	110	5,622
Current liabilities		(5,380,018)	(116,101)		(195,841)			(82)
Long tenn	liabilities	(500,000)	(1,900,000)		(822,364)
Provisions		(1,157,000)	(533,000)
Net assets		8,689,633	3,281,862			7,951	287,937	1,074,613
Aggregate	capital and reserves	8,689,633	3,281,862			7,951	287,937	1,074,613

A summary follows:	of	turnov	er, expenditure	and profit/(lo	ss) for the	year en	ded 3	0 June 2	022	s as
							2001
				Spiritville	Heysarbor	Nostrand	Ave	Meridian	US	Meadowood
				Investments	Investments	Investors		Investment		Hillcrest SIL
				Limited	Limited		Corp.	2021	Inc.	US Inc.
Tulllover				791,290	246,316
Cost ofsales				(125,480)	(74,259)
Administrative	expenses			96,824	773,753	(17,027)		(1,535)		(58)
Profit on disposal ofinvestment
property and	other	investments		98,178	4,836
Net valuation	gains/(loss)		on investment
property					100,000
Income from	shares in group undertakings			3,756
Income from	other	fixed	asset
investments					862			5,757		5,598
Interest receivable		and similar income		241,376	133,839
Interest payable and similar charges				(336,432)	(123,642)	(65,789)
Tax				48,000	(107,076)
Profit/(Loss)	for the financial year			817,512	954,629	(82,816)		4,222		5,540

DEBTORS
	Group		Charity
	2022	2021	2022	2021
				g
Trade debtors	114,401	184,069	2,130	1,877
Amount due from group undertakings Loan debtors	4,178,145	5,464,015	2,400,000 170,000	500,000 170,000
Taxation and social security	8,464	4,961
Other debtors and prepayments	715,721	362,462	186,445	57,813
	5,016,731	6,015,507	2,758,575	729,690

CREDITORS: amounts falling du	e within one year
	Group		Charity
	2022	2021	2022	2021
		g	g	g
Bank loans and overdrafts	4,968,314	401,530
Loan creditors	2,970	2,970
Taxation and social security Accruals and deferred income	64,596 157,101	68,873 355,196	37,175	36,662
Other creditors	26,221	21,373	476	476
	5,219,202	849,942	37,651	37,138

CREDITORS: a	mou	nts falling	due aft	er	more than o	more than o	ne yea	r
					Group				Charity
					2022		2021		2022		2021
											g
Bank loans and overdrafts						7,845,211
The bank loans	and	overdrafts	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
					2022		2021		2022		2021
									f.
In more than one	year	but not
inore than two years						7,845,211
In more than two	years but not
more than five years
In five years or more
DEFERRED INCOME
									2022		2021
At I July 2021									56,186		17,188
Amount released	to income								(56,186)		(17,188)
Amount deferred	in year								23,992		56,186
At 30June 2022									23,992		56,186
Deferred income	arises from rents received				in advance.
PROVISIONS
Deferred tax:
									Group	Charity
At 1 July 2021 Charge for the year									1,662,000 28,000
At 30June 2022									1,690,000

		At 1July			Gains and	At 30June
Group		2021	Income	Expenditure	losses	2022
General	funds	26,917,669	2,562,634	(1,238,312)	(338,416)	27,903,575
		At 1July			Gains and	At 30June
Charity		2021	Income	Expenditure	losses	2022
		K				K
General	funds	26,917,426	900,781	(515,250)	600,274	27,903,231

ANALYSIS OFN	E	T ASSETSB	ETWEEN FUNDS	ETWEEN FUNDS
			Group		Charity
			Unrestricted	Total Funds	Unrestricted	Total Funds
			Funds	2022	Funds	2022
			f.
Investments			29,140,069	29,140,069	24,782,640	24,782,640
Current assets			5,672,708	5,672,708	3,158,242	3,158,242
Creditors less than	1	year	(5,219,202)	(5,219,202)	(37,651)	(37,651)
Creditors greater than		1 year
Provisions			(1,690,000)	(1,690,000)
Net assets			27,903,575	27,903,575	27,903,231	27,903,231

						Group	Group	Charity	Charity
						2022	2021	2022	2021
								f.
Financial assets		measured		at fair
value through		income	and
expenditure						13,037,066	12,795,988	22,496,637	22,383,494
Financial assets		that are equity
instruments	measured		at cost less
impairment						1,814,553	1,827,509	1,814,553	1,827,509
Financial assets		that are debt
instruments	measured		at
amortised	cost					5,672,708	7,782,875	3,158,242	2,272,111
Financial liabilities measured					at
amortised	cost					5,219,202	8,695,153	37,651	37,138

are as follo	ws:
		Group		Charity
		2022	2021	2022	2021
Not later than 1 year		687,736	818,237	6,972	6,972
Later than 5 years Later than	1 year and not later than 5 years	1,976,175 3,278,460	2,177,502 3,121,143	7,940 185,028	7,940 179,503
		5,942,371	6,116,882	199,940	194,415

		2022	2021
Cash	at bank and in hand	655,977	1,767,368
Bank	overdrafts
		655,977	1,767,368

				2022	2022	2021	2021
				Unrestricted	Funds	Unrestricted	Funds
Income and endowments
Donations and	legacies				520,000		840,000
Investment income					380,781		401,012
Total income					900,781		1,241,012
Expenditure
Expenditure on	raising funds:
Investment management costs				(164,556)		(158,887)
Expenditure on	charitable activities			(350,694)		(381,502)
Total expenditure					(515,250)		(540,389)
Net (loss)/gains	on investtnents:
Gains/(Loss)	on revaluation	of
investments	in group undertakings			1,264,000		(2,183,000)
(Loss)/Gains	on revaluation	of	unlisted
investment				(651.106)		1,723,189
(Loss)/Gains	on disposal of	investment
property				(12,620)		33,965
					600,274		(425,846)
Net income and net movement			in funds		985,805		274,777
Reconciliation	offunds:
Total funds brought forward					26,917,426		26,642,649
Total funds carried forward					27,903,231		26,917,426