COMPANY REGISTRATIOIY NUMBER: 890369
CIL4RifY REGISTRATION NUMBER: 252370
FRANKGIVING LIMtTED
COMPANY LIMITED BY GUARAiYfEE
CONSOLIDATED FJNANCIAL STATEMENTS
for the ye4r ended
30 JUNE 2023
COHEN ARNOLD
Chartered A¢¢ountants & Statutory Auditor
New Burlington House
1075 Finchl¢y Road
tA)ndon
NWI I OPU

FRANKGIVING LIMITED
COMPANY LIMITED BY GUARANTEE
INDEX TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES
Trustees, annual report (incorw)rating the dI￿tor'S report)
itos
Independent auditols r¢tKTrrt to th¢ memixrs
6tolO
Consolidated statement of financial activities (including the consolidated
income and expenditure account)
li
Consolidated balance sheet
12
Charity balan¢e sheet
13
Consolidated statement of cash flows
14
Notes to the financial ststements
151031

**FRANKGIVING LIMITED (COMPANY LIMITED BY GUARANTEE)** 

## **TRUSTEES’ ANNUAL REPORT (INCORPORATING THE DIRECTORS’ REPORT)** 

## **YEAR ENDED 30 JUNE 2023** 

The trustees, who are also directors for the purposes of company law, present their report and the financial statements of the charity and its subsidiary undertakings for the year ended 30 June 2023. 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

**Registered charity name** Frankgiving Limited **Charity registration number** 252370 **Company registration number** 890369 **Principal office and registered** New Burlington House **office** 1075 Finchley Road London NW11 0PU **The trustees** Mr Leslie Frankel (Chairman) Mrs Zisi Frankel Mr Laurence Allan Foux Mr Winston Samuel Gilbert Mr Maurice Moishe Frankel (appointed on 20 June 2022) Mr Joel Frankel (appointed on 20 June 2022) Mr Ephraim Frankel (appointed on 20 June 2022) 

**Company secretary** Mrs Zisi Frankel **Auditors** Cohen Arnold Chartered Accountants & Statutory Auditor New Burlington House 1075 Finchley Road London NW11 0PU **Bankers** Barclays Bank Plc 21 Hanover Square London W1S 1JW 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

The charity is constituted as a company limited by guarantee and as such, its governing documents are its Articles of Association. 

The day to day affairs of the charity is administered by the trustees, each of whom may serve for life and shall not be subject to any reappointment process. 

None of the trustees have any beneficial interest in the charity.  All trustees give their time voluntarily and no benefit or expenses were paid to them in the year. 

1 



FRANKGtvtNG LtMrrF.D
COMPANY LIMITED BY GUARANTEF.
TRUSTEES, ANNUAL RF.PORT
INCORPORATING THE DIRECTOR'S REPORT
YEAR KNDED 30 JUNE 2023
STRUCTURE. GOVERNANCE AND MANAGEMEwf (continued)
Group 8tructure and relation8knips
The charity has the following wholly owned non-charitable operating subsidiaries:_
Spiritvill¢ Investments Limited
- a property investment company
Heysarbour Investments Limited
- a propety investment company
Spiritville Inveslments Limited has the following wholly owned operating subsidiaries:.
2001 Noslrand Ave Investors Corp.
- on investm¢nt holding wmpany
Meridian US Investment 2021 Inc.
an investment holding company
Meadowood Hillcrest SIL US Inc.
an investment holding company
The trnstees of this company. Mr Leslie Frdnkel and Mrs Zisi Frankel are also directors of Spiritville
Investments Limited and Heysarbor Investments Limited.
RelAtsd Party TransAclions
Details of transactions with'Related Parties, are disclosed in Notes 17 2nd 25 to the Finan¢ial Statements.
OWECTJVES AND ACTIVITIES
The charity is established lo promote and assist charitable activilies and institutions both in the United
Kingdom and abroad. It has concentrated its a¢livities in promoting charitable activities of institution5
professing and teachiiig the principles of traditional Judaism, advancin8 religion in accordance with the
Jewish faith and giviiig philanthropic aid to tlie Jewish needy.
The charity receives incoines from its ¢Rsh dcposits, subsidiary undertakin8 and voluntary incotne from
mpanies ¢onnect¢d witli th¢ trustees wlii¢h it utilises in the pn)vision and distribulion of grants and donations
lo organisatioiis that fall witl)in die obj¢¢lives of ihe Charity.
The trustees confirni that they have referred to the guidance coniained in the Charity Commission's g¢nerdl
guidance on public benefit when reviewin8 the charity's aims and objectives and in planning future activities and
setting th¢ gfdnt moking poli¢y for the year.
Grant making policy
Grants are made to charitable institutions and organi5ations both in Great Britain and abroad which a¢cords
with the objects of th¢ charity. The trustees consider all requests which they receive alld make donations
based on the level of funds available.
ACHIKVEMENTS AND PERFORMANCE
During the y¢ar the charity has continued its philanthropic activities and has maintained its support of
religious, edu¢ational and other charitable institutions in Great Britain.
Th¢ demands on the charity's funds were more than tliose experiencd last year with charitable donations for
the year totalling £458,480 as against £324.200. Tiie donAtions were met from ¢￿￿ertt income of tl)e charity-
The financial results of the charity and its subsidiary undertakings for th¢ year ended 30 June 2023 are fvlly
reflected in th¢ attached Fillancial Statements together with the Notes ther¢on.

FRAIVKGIVING LIMITED
COMPANY LtMITF.D BY GUARANTEE
INCORPORATING THE DIRKCTOR'S REPORT
TRUSTEES? ANNUAL REPORT
YEAR ENDED 30 JUNE 2023
FINANCIAL REVIEW
Financial position
The charity is reliant on the income from inveslments. the commercial activities of its subsidiary undertakings
and voluntary income from companies connected with the trustees. Income from commercial activities of the
subsidiary undertakin8S together with income from the investments and voluntary donations have helped to
boost the total incoming resources.
The financial position of the Qharity aiid its subsidiary undertakings is satisfactory. The charity's
consolidated statement of financial activitie5 shows net incom¢ of £1,408,124 (2022.. £985,906) and total
reserves of £29,311.699 (2022: £27.903,575).
Reserves policy
The Company is required to maintain R¢serves in order to ensure that it is in a wsition to continue its grant-
making activities and cover contingencies of additional calls being made upon the charity for supixjrt of
organisations or Insti￿lI0nS in times of need.
The Trustees consider it appropriate to maintain 'Fr¢¢ Reserves, (unrestricted funds not committed or invested in
Fixed Asset Inv¢stmenlS) at a level which will nol impinge on its ability to support Charitsble Institutions.
The 'Free Resetves. of £1,343.693 which ar¢ represented by (part ofj the liqutd funds held by the Charity, are
consid¢red to be adequate and will be reviewed peri(di¢ally by the trustees of the charity.
As al 30 June 2023, the charity has total funds 01 £29.311.798 (Group- £29,311.699)- These funds include
£15,012,154 (Group.. £7.300.712) which arises from the revaluation of the charity's investtnents and is not
readily available for general pury)oses. Consequently, the charity has res¢rve8 of £14.299,644 (Group..
£22,010.987), after making allowance for reserves not readily av&ilable.
Investment policy
Under the memorandum and articles of associ&tion, the charity has the power to make any inveslm¢nt, which
the trustees ¢oiisidcr appropriate. The Trust¢es seek invesbnenls which. ovcr a medium temi, are anticipated lo
8enerale a dependable tlow of in¢om¢ coupled with capital growth.
The tnjstees. having regard to th¢ liquidity r¢quirements of the ¢harity and to th¢ reserves policy have
operated a policy of keeping availabl¢ funds in an int¢r¢st-bearing d¢posit account
The trustees consider the re￿rn on investments. in tenns of both income and ¢apital growth, to satisfa¢tory.

FRANKGIVINC. LIMITED
COl￿PANy LILWTED BY GUARANTEE
INCORPORATtNG THE DIRECTOR'S REPORT
TRUSTEES, ANNUAL REPORT
YEAR ENDED 30 JUNE 2023
FINANCIAL REVIEW (Continued)
Risk management
The Trust¢¢s have a risk maiiagement 5trdtegy which cotnprises an annual review of ilie principal risks and
uncertainties to which the Coinpany is exposed, in particular those to the operations and finances of the
Company> the establishmeT]t of policies, rystems and pro¢¢dures to mitigate those risks identified in the annual
reyiew and the implementation of prittdures designed to minimise or manage any potential impact on the
Company should those risks materialise.
The principal risks to which the charity is exposed are..
Liabilities arising from property investm¢nt activity
Tenant defaults
Damage to property from flood, fire or tern)rist a¢tion
Planning construction and letting risk in relation to redevelotffient activity
The availability of liquid funds to make grants and donations
The economic cycl¢ generally
The eharity seeks to maiiage or mitigate such risks wherever possible through such measures as insurance,
tenant s¢r¢ening and monitoring, rigoious reviews of &cquisition and investment opportunities, ext¢rnal
expert advice, monitoring cash and regular mor]itoring of the economic outlook. It is recognised that systems
can only provide reasonable but not absolute assurnnce that major risk have been adequa*ly managed.
PLANS FOR FtrruRE PERIODS
The trustees pian to Continue lo make distributions in accordance with their grant making policy and to
ensure that the ability to generate suificient incoEne is maintained to achieve that end.
TRUSTEES? RESPONSIBILITIES
The trustees. who are also directors for th¢ purposes of company law. are responsible for preparing the
truste¢s' report and the financial stat¢ments in accordance with applicable law and Unit¢d Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requI￿S the charity trustees to prepare financial statements for each year which give a true and
fair vicw of the stale of affairs of thc group and chariiable company and the incoming resources and
application of resources, including th¢ income and expendilure of the group. For th&1 period. Under company
law the Trustees must noi approve the fi1)ancial staiemeiits unl¢ss they are satisfied tliat th¢y give a tru¢ and fair
view of the state of affairs of the Group and Company and the income and ¢xpenditvre of the Group for tliat
period.

FRANKGJVING LIMITED
COMPANY LIMITED BY GUARAwfEE
TRUSTEES, ANNUAL REPORT
tNCORPOIi4TtNG THE DIRECTOR'S REPOR
YEAR EIYDED 30 JUNE 2023
TRUSTEES, RESPONSIBILrrIES (Continued)
In preparing these financial statemcnts, the trustees are required to-
Se[￿t suitable accounting policies and then apply them consistently>
observe the methods and principles in the Charities SORP.,
make judgements and awounting estimates that are reasonable and prudenL and
prepare the financial slatement5 Qn the going concern basis unless it is inappropriate to presume that
the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that are S￿￿1cle￿I to show and explain
the charity's tran5a¢tions and disclose with reasonable aecuracy at any time the financial position of tl)¢
charity and enable thei1I to ensure that the financial statements coinply with Ilie Compani¢s Act ?006. Tliey
are also responsible for safeguarding the assets of the charity and the group and hence for taking re&sonabl¢
steps for the prevention and detection of fraud and other itTe8ularities.
STATEMENT OF DISLOSURE TO AUDTTORS
Each of th¢ persons who is a trustee at the date of approval of this report confimis that..
so far &s they are aware, there is no r¢levant audit infonnalion of which the charity's auditors are
unaware; and
th¢y have taken all th¢ step5 thai they ought to have taken as a trnstee to make themselves aware of
any relevant audit information and ts) establish that the charity's auditors are awar¢ of that
inforniation.
AUD￿oRs
Cohen Arnold is deemed to have been reappointed in accordance with section 487 of the Companie5 Act
2006.
SMALL COMPANY PROVISIONS
This report has been prep8red in accordan¢¢ with th¢ provisions applicable to compani¢s ¢ntitled to the small
companies exemption.
The trustees, annual report was approved on J8 March 2024 and signed on behalf of the board of trustees by:
Frank¢l
Trustee

FR￿NKG￿ING LIMITED
COMI>ANY LIMITED BY GUARANTEE
INDEPF.NDENT AUDrroRS' REPORT TO THE MEMBERS OF FRANKGIVING LIMITED
YEAR ENDED 30 JUNE 2023
Op￿[0￿
We have audited the financial statements of Frankgiving Limited (the 'charity') for the year ended
30 Jun¢ ?023 whi¢h comprise the Consolidated Statement of Financial Activities (including incoime and
exp¢iiditLire account), Consolidated and Parent Charity Balance SlieetS, the Consolidated Statement of Cash
Flows and the relaled notes, including a summary of significant accounting policic5. The financial reporting
framework that has b¢¢n applied in their preparation is applicable law aiid United Kiiigdoin Accouiitiiig
Slandards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republi¢ of
Irelaiid (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements=
give a tru¢ and fair view of the state of the group and the charity's affairs as at 30 June 2023 and of the
group's incoming resources and application of resources. including its income and expenditure. for the
year then ended.
have been properly prepared in ￿cOrdanCe with United Kingdom Genernlly Accepted Accounting
Practice-
have been prep￿￿ in accordance with the requirements of the Companies Act 2006.
BASIS FOR OPINION
We wnducted our audit in accordance with Intsrnational Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our respoiisibilities under those standards are further described in the auditols
responsibilities for the audit of tlie financial statements section of our r¢port. W¢ are independent of the
cliarity in accordance with th¢ etliical requirements that are relevant to our audit of the financial statements in
the UK, inclLiding the FRC'S Etliical Staiidard. 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 CONCER
We have nothing to report in r¢spect of the following matter8 in relation to which th¢ ISAS (UK) require us
to report lo you where..
the trustees, use of the going concern basis of accounting in the preparation of the financial stat¢m¢nt5
is not appropriate. or
the trustees have not disclosed in the consolidated finan¢ial slal¢ments any identified material
uncertaintie5 that may cast significant doubt about the charity's ability to continue to adopt the going
concem basis of accounting for a p¢riiMI of at least fjvelve months from the date when the consolidated
financial ststements are authorised for issue.

FRANKGIVIP4G LIMITF.D
COMPANY LIMITED BY GuARA￿￿￿E
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF FRANKGIVING LIMITED
Continued
YEAR ENDED 30 JLll¥E 2023
OTHER INFORMATION
The other inforniation comprises the inforniation included in the Trustees. annual report, other than the
financial statements and our auditor's report thereon. The trustees are responsible for the other infomialion.
Our opinion on the financial statements does not cover the other information and. except to the extent
otherwise explicitly ststed in our reporL we do not express any forni of assurance conclusion ihereon.
In connection with our audit of the financial statemenlq. our resp)nsibility is to read tlie other infomiation
and, in doing so, consider whether the other iiifomatioii is materially inconsistent with the financial
slatements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we
identify such material inconsistencies or apparent material misstaÉem¢nts. we are requir¢d to determine
whether ther¢ is a material misstatement in the financial statements or a material misstatement of th¢ other
information. If. based on the work we have perfomied. we conclude that there is a rnaterial misststement of
this other infomiation. we are r¢quiTed to r¢port that fact.
We have nothing to report in this regard.
OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the truste¢s' report for the fin8ncial year for which the financial statements are
prepared is consistent with the financial slatements- and
the trustees, rewTrrt has been prep￿ed in accordanee with applicable legal requirements.
MATTERS OIY WHICH WE ARE REQUIRED TO REPORT BY EXCEvfIoN
In the light of the knowledge and understanding of the charity and ils environment obtained in the course of
the audit, we have not identified material misstatements in the trustees, report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006
requires us to report to you if, in our opinion..
adequate ac¢ounting records have not been kept. or returns adequate for our audit have not been
received from branches not visited by us- or
the consolidated financial statements are not in agreement with the accounting r¢cords and returns.
ertain disclosures of trustees, r¢muneration specifi¢d by law arc not made. or
w¢ have not received all the information and explanations we r¢quire for our audit.
the trustee5 were not entiiled to prepare th¢ financial statem¢iits in accordance with the small companies
regime and take advantage of the small companies, exemptions in preparing th¢ dir¢¢tors' report and
from tlie requirement to prepare a strategic report.

FRANKC.IVING LIMITED
COMPATr4Y LIMITED BY GUARANTEE
INDEPENDENT AUDITORS, REPORT TO TFIE MEMBERS OF FRANKGIVING LIMITED
Continued
YEAR ENDED 30 JUNE 2023
RESPONSIBILrrIES OF TRUSTEES
As explained more fully in the trustees, responsibilities Statement, the trustees (who are also the directors for
th¢ putposes of COTnpany law) are responsible for the preparaiion of th¢ financial statements and for b¢ing
salisfied that they give a Irue and fair view, and fi)r such internal ¢ontrol as the trustees detemiine is
necessary to enable the pr¢paration of financial statements that are free from material misstatement, whether
due to fraud or error.
In p￿ParIng the financial statements, the trust¢es are responsible for assessing the charity's ability to
continu¢ as a going coiiccm, disclosing, as applicable, matters related to going con¢err] and using the going
¢on¢ern basis of accounting unless the trustees ¢ither intend to liquidate the cliarity or to cease op¢rations, or
have no realisti¢ alternative but to do so.
AUDITOR'S RESPONSIBILrriES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
Our objectives are to obtain reasonabl¢ assurar]c¢ about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an a4bditor's report that includes our
opinion. Reasonable a5suran¢¢ is a high level of assurance. but 18 not & 8uarant¢¢ that an audit Conducted in
accordan¢e 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 aggre8ate, they could
reasonably be expected to influence the economic decisions of users taken on the basis of these financial
statements.
Irregularitie& includin8 fraud, are instances of non-compliance with laws and regulations. We design
proc¢dures in line with our responsibilities, outlined abov¢. to detect material misstalemenls in
respect of irregularities, including fraud. 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
group through discussion with the directors and identified finan¢ial reporting legislation, landlord
legislation and charity l¢gislation as being most significant to these financial statements.
We Cotllmunicated these identified frameworks amongst our audit team and remaincd alert to any
indications of non-conipliaiice througliout the audil. We ¢nsiired that the engagement team had
sufficient competence and ¢apability to identify or re¢ognise non-compliance with th¢ laws and
regulations.
We discussed with the directors th¢ policies and procedures regarding compliance with tliese l¢gal
and regulatory frameworks.
We assessed the susceptibility of the group's financial statements to material misstatement du¢ to
non-compliance with legal and regulatory frameworks, including how fraud might o¢¢ur, by enquiry
willi the directors during the planning and finalisation phases stages of our audit and by using
proprietary disclosure checklists. The susceptibility to such material misstatement was detern)ined to
be low.
Based on this understanding, we desig¥J¢d our audit procedures to identify non-compliance with the
idei)tified legal and regulatory framewojks, which were part of our procedures on the related
financial statement i*ms.

FRANKGIVKNG LIMITED
CO￿ANy LIMITED B Y GUAIL4NTEE
INDEPENDEIYT AUDITORS, REPORT TO THE MEMBERS OF FRAM(GIVING LIMITED
Continued
YEAR EM)ED 30 JUNE 2023
AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENrs
(conlinmed)
Owing lo the inherent lirnitations of an audiL there is an unavoidable risk that we may not have detected
some material misstatements in the financial statetnents. even though we have properly planned and
perfom)ed our audit in accordan¢¢ with auditing standards. For example, the further r¢moved non-
compliance with laws and regulations (irregularities) is from the events and transaclions rellected in the
financial statements, the less likely the inherently limited procedures required by auditing standards would
identify IL In addition, as with aiiy audit, there remained a higher risk of non-detection of irregularities, as
Ih¢se may involve collusion, forgery, intentional omissions, misrepresentations. or the ovcrride of internal
controls. We are not responsible for preventing non-compli&nce and cannot be expected to detect non-
¢ompli&nce with all laws and regulations.
As part of an audit in acwrdance with ISAS (UK). we exercise professional judgment and maintain
professional sceptieism throughout the audit. We also=
Id¢ntify and assess the risks of material misstatement of the financial statements, whether due io fraud
or emr, design ai)d perforin audit procedur¢s responsive to those risks, and obtaii) audit eviden¢¢ tliat is
sufficient and appropriate to provide & basis for our opiiiion. The risk of not detectiiig a material
misstateinent resultii)g From fraud 15 higher than for one resulting from error, as fraLid Inay involve
collusion, forgery. intentional omissions, misrepresentation5, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order io design audit procedures that
&r¢ appropriate in the c1￿umstances. but not for the purpose of ¢xpressing an opinion on the
effectiveness of the internal control.
Evaluate the appropri&teness of accounting tK)li¢ies used and the reasonableness of accounting
estimates and related disclosures made by the trustees.
Conclude on the appropriaten¢ss of the trustees, use of the going COnc￿n basis of acciyunting and. based
on the audit evidence obtained. whether a material un¢¢rtainty ¢xisls related to events or conditions that
may cast significant doubt on th¢ Charity's ability to continue as a going conoern. If we Conclude thal a
material uncertainty exists, we are ￿quired to draw attention in our auditor's report to the relal¢d
disclosures in the financial statements or, if such disclosures are inadequate. to modify our opinion. Our
conclusions are based on the audit evidence obtained up to the date of our auditor's report. However,
future ev¢nts or conditions may ¢ause the oharity to ¢¢ase to continue as a going concern.
Evalu&te the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and events in a
manner that achieves fair presentstion.
Obtain sufficient appropriate audit evidence regarding the financial inforniation of the ¢iititi¢s or
business activities withii) the group to express an opinion on tlie Consolidated financial statements. We
are rcsponsible for tlie direction. supervision and pcrfomance of the group audit. We reinain solely
responsible for our audit opinion.
We communicate with those charged with governance regardin& among otl)er matters. the planned scope
and timing of the audit and sigiiificant audit finding5. including any significaiit deficiencies in internal
control that we identify during our audit.

FRANKGIVING LIMITED
COMPANY LIMITED BY GUA]UNTEE
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF FRANKGIVING LIMITED
Continued
YEAR ENDED 30 JUNE 2023
USE OF OUR REPORT
This rew)rt is mad¢ $0Sely to the charity's members, as a body, in accord&nce with Chapt¢r 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to ihe charity's members
those fflatters we are required to state to them in an auditor's report and for no other purpose. To the fullest
¢xtent pern)itted by law, we do not accept or assume responsibility to anyone other than the ¢harity and the
charity's memlxrs &$ a b()dy, for our audit work, for this reporL or for th¢ opinions we have fomied.
DOV HARRIS
{S¢nior Statutory Auditor)
For and on behalf of
COHEN ARNOLD
Chartered Accountants & Statutory Auditor
New Burlington House
1075 Finchley Road
LONDON
NWI I OPU
Dat¢: ?$ March 2024
Our audit was completed on )8 March 2024 and our opinion was expressed at that date.
io

FRINKGIVING LIMITED
COMPANY LIMITED BY C.UARANTEE
CONSOLIDATED STATEMENT OF FIIYANCIAL ACTIVITIES
INCLUDING THE CONSOLIDATED INCO￿1[ AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2023
2023
Unrestricted Funds
2022
Unrestricted Funds
Note
Ineome and endowments
Donations received
Investment income
1,000
2,561,634
2,562,634
1,636,415
1,636,415
Total income
Expenditure
Expenditure on raising funds:
Investment manag¢ment costs
Expenditure on charitable activities
Total expenditure
Net gains on investments..
(Loss)IGains on revaluation of
investhient property
Gains/(Loss) on revaluation of
unlisted investment
Gains on disposal of investment
property
Loss OD disposal of unlisted
investment
{701,770)
(495,813)
(828,542)
(350,694)
(1,197,583)
(1,179,236)
(81,537)
loo,000
518,025
{528,810)
72,898
92,997
(2,603)
509.386
948,218
(338.416)
1,044,982
Net income before tax
Taxation
io
459.906
(59.076)
Net income and net ￿0Vement in
funds
li
1,408,124
985,906
Reconciliation of funds:
Total fund5 brought forward
Total funds carried forward
27.903,575
29,311,699
26,917,669
27,903,575
21
The statement of financial activities includes all gains and losses recognised in the year. All income
and expenditur¢ derive from continuing activities.
The notes on pages 15 to 31 forra part of these financial statemenls.

FIL4NKCIVING LIMITED
COMPANY LIMITID BY GUARANTEE
CONSOLIDATED BALANCE SHEET AS AT 30 JUNE 2023
2023
2022
Note
FIXED ASSETS
Investm¢nts
15
26,082,434
29,140,069
CURRENT ASSETS
Debtors
Cash at bank and in hand
17 4.168,193
576,508
4,744,701
5,016,731
655,977
5,672,708
CREDITORS: amounts falling due
witbin one year
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
18
(286,436)
(5,219.202)
4,458.265
453.506
30,540,699
29,593,575
PROVISIONS
20
(1,229,000)
29.311,699
(1,690,000)
27.903,575
NET ASSETS
FUNDS OF THE CHARITY
Unrestricted funds
21
29,311,699
29.311,699
27,903,575
27,903,575
Totsl charity funds
These financial statements were approved by the board of trustees and authorised for issue on
98 March 2024, and are signed on behalf of th¢ board by:
Trustee
Company Registration Number.. 890369
The notes on pages 15 to 31 forn] part of these financial slatements.
12

FRANKGIVING LIMITED
COMPANY LIMITED B Y GUARANTEE
BALANCE SHEET AS AT 30 JUNE 2023
2023
2022
Not¢
FIXED ASSETS
Investm¢nts
15
27.968.105
24,782,640
CURRENT ASSETS
Debtors
Cash at bank and in hand
17 1,332.194
167,904
2,758,575
399,667
3,158,242
1,500,098
CREDITORS: amount8 f211ing due
within one year
NET CURRENT ASSETS
18
(156,405)
(37,651)
1,343,693
29,311,798
3,120,591
27,903,231
NET ASSETS
FUNDS OF THE CHARITY
Unrestricted funds
21
29,311,798
29,311,798
27,903,231
Total eharity funds
27.903,231
These financial statements w¢re approved by the board of tn￿teeS and authorised for issue on
28 March 2024, and are signed on behalf of the board by:
Trustee
Company Registration Number: 890369
The notes on pages 15 to 31 fom] part of ihese financial statements.
13

FRANKGlVtNG LIMITED
COMPANY LIMITED BY GUARANTEE
CONSOLIDATED STATEMENT OF CASH FS.()WS
FOR THE YEAR ENDED 30 JUNE 2023
Note
2023
2022
CASH FLOWS FROM OPERATtNG ACTivrriES
Net irbcome
1.408,124
985,906
Adjustmenlsfor..
Net (gainsyloss on investtnents
Dividends, interest and rents from investments
Int¢r¢st receivabl¢ and similar income
Accrued expenses
Payments for expenditure on investtneTtt properties
Payments for expenditure on other investment
Interest payable and similar charges
Current and def¢rred tax
(509.386)
338.416
(1,306.938) (1,383.426)
(326,290) (322,658)
35,229
4.742
189.920
206,021
161.254
158,274
303,923
420,499
(459,906)
59,076
Changes in..
Trade and other d¢btors
Trade and other Creditors
(64,623)
(34.101)
(602,794)
7,628
(1,094)
(596,260)
66,165
571
Cash (used inygen¢rated from operations
Interest received
Tax paid
Net cash (used inyfrom operating a¢tiviti¢s
533,586
150
{31,076)
502,660
CASH FLOWS FROM INVESTUrfG ACTIVTtIES
Dividends. interest and rents from investment5
Cash receipts from the repayment of advances aiid loans
Purchas¢ of investment properties
Purchases of other investments
Proceeds from sale of iiivestment properties
Proceeds from sal¢ of other investments
Payments for expenditure on investment properties
Payments for expenditure on oth¢r investment5
Net cash g¢nerated from investing activiti¢s
1,889,018
747.957
(643,235)
(300,857) (2.133.342)
1,022,898
772,997
3,488,215
1,373,807
(189,920) (206,021 }
(161,254) {158,274)
5,852,822
2,256,718
1.451.681
1,155.870
CASH FLOWS FROM FINANCING ACTIVftlES
Repayments of borrowings
Inter¢sl paid
Net used in financing activities
(4,968.314) (3,278.427)
(367,717) (592,342)
(5.336,031) {3,870,769)
NET DECREASE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT BEGINMNG OF YEAR
CASH AND CASH EQUIVALENTS AT END OF YEAR
(79.469) (1,111.391)
655,977
1,767,368
576,508
655,977
26
The notss on page5 15 to 31 fonn part of these financial statements.
14

FRANKCIVING LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
GENERAL INFORMATION
The charity is a private company limited by guarante¢, registered in England and Wales and
a registered charity in England and Wales. The address of the registered office is New
Burlington House. 1075 Finchley Road, London, NWI I OPU.
ST ATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102, 'Th¢ Financial
Reporting Standard applicable in the UK and the Republic of lTeland'. the 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)
(Charities SORP (FRS 102)) and the Charities Act 2011.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historicaj cost basis. as modified by the
revaluation of certain fmancial assets and liabilities and investment properties measured at
fair value through income or expenditure.
The financial statements are prepared in slerling, which is the functional currency of the
entity.
The charity meets the definition of a public benefit entity under FRS 102.
Going eoneern
The financial statements have been prepared in accordance with the a￿oUnting principl¢s
appropriate to a going concern, as the trustees have a reasonable expectation that the charity
has adequate resources to continue in operational existence for the for¢seeable future by
meeting its liabilities as they fall due. based on the net current asset position of the charity
and available sources of finance.
Group financial statements
These FinaJ]cial Stalements consolidate the results of the charity and its subsidiary
undertakings. A separate Statement of Financial Activities, for the charity itself is not presented
because the charity has taken advantage of the exemptions afforded by section 408 of the
Companies 2006. However. Ihe Stslement of Financial Activities for the charity is
sep￿at¢1Y filed with the Charity Commission.
15

FRANKGIVING LIIIIITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL ST ATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
ACCOUNTING POLICIES (continu¢d}
Judgements and key sourees of estimation une¢rtainty
Judgements made by the directors in the application of these accounting policies that have
significant ¢ff¢ct on the financial statements k)nd estimates with a significant risk of material
adjustment in the next year are as follows:
(i) Propety valuation
The valuation of the charity's investment property is inher¢ntly subjective, depending on
many factors including the nature of th¢ Property. its location and expected future net rental
values. market yields and comparable market transactions. Therefore the valuation is subject
to a degree of uncertainty and is made on the basis of assumptions which may not prove to
be accurate, particularly in periods of difficult market or economic conditions.
(li) Trade and other debtors
Management uses details of th¢ age of trade and other debtors and the status of any dispules
together with external evidence of the credit status of the counterparty in making judgem¢ntS
concerning any need to impair the carrying value.
Fund aecounting
Unrestricted funds availabl¢ for use at the discretion of the trustees to further any of the
Charity's pvrposes.
Designated fimds are unr¢stricted fi￿dS earnwked by the tnLStees for particular future project
OT committment. There are no designat¢d funds as at the balance sheet date.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or
through the temis of an appeal, and fall into one of two sub-classes.. restricted income funds or
endowment funds. There are no restricted fl￿dS as at the balance sheet date.
Incoming resourc¢$
All income is included in the statement of financial activities when entitlement has passed to
the charity, it is probable that the economic benefits associated with the transaction will flow
to the charity and the amount can be reliably measured. The followin8 specific policies are
applied to particular categories of income:
income from donations or grants is recognised when received.
16

FRANKGIVING LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
ACCOUNTING POLICIES (conlinued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure
includes any VAT which cannot be fully recovered. and is classified under headings of the
statement of financial activities to which it relates:
- expenditure on raising funds includes the costs of all investment management costs.
- expenditure on chaTitable wtivities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating to the governance of the Charity apportioned to charilabl¢
activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct
costs attributable to a single activity are allocat¢d directly to that activity. Shared costs are
apportioned between the activities they contribute to on a reasonable, justiflable and
consistent basis.
The following specific policies are applied io particular categories of expenditure:
- grants and donations are recognised when paid.
Taxation
The charity is not liable to cuffent tax on its income as it falls within the various exemptions
available to r¢gistered charities. The subsidiary undertakings are subject to Corporation Tax
but it is expected that their income will be gifted for charitable purposes and should be
exempt from taxation.
Deferred tax is recognised in respect of all timing differences at the reporting date.
Unrelieved tax losses and other deferred tsx assets are recognised to the extent that it is
probabl¢ that they will be recovered against the reversal of deferred tax liabilities or other
future t￿able profits. Deferred tax is measured using the tax rates and laws that have been
enacted or substantively enacted by the reporting date that are expected to apply to the
reversal of the timing difference.
Unlisted investments
Unlisted equity investments are initially recorded at cost. and subsequently measured at fair
value.
17

FRANKCIVINC, LIMITED
COMPANY LIMtTED BY GUARAiYfEE
NnTES TO THE FINANCIAL STATF.MENTS
FOR THE YEAR ENDED 30 JUNE 2023
ACCOUKftNG POLICIES (continued)
3.10 Investment in subsidiary undertskings
Shareholdings acquired in subsidiary undertakings are shown at market value as valued by
the trustees.
3.11 Acquisitions and disposals
Acquisitions and disposals of properties are considered to take place at the date of legal
completion and are included in the financiaj statements accordingly.
3.12 Investment property
Investment properties are properties which are held either to ¢arn rental income or for
capital appr¢ciation or for both. Investment properties ar¢ recognised initially at cost.
Subsequent to initial recognition
Investment properties whos¢ fair value can be me&sured reliably without undue cost or
effort ar¢ held at fair value. Any gains or losses arising from changes in the fair value are
recognised in the profit and loss account in the period that they arise. and
No d¢preciation is provided in respect of investment properties applying the fair value
model.
Investment property fair value is detemiined by the trustees based on their understanding of
property market conditions and the sp¢cific property concerned, using a sales valuation
approach, derived from recent comparable transactions on the marke¢ adjusled by applying
discounts to reflect status of occupation and condition.
3.13 Debtors
Debtors are recognised and carried forward at invoiced amounts less provisions for any
doubtful debts. Bad debts ale writt¢n off when identified.
3.14 Creditors
Creditors are recognis¢d as soon as there is a legal or constructive obligation committing Ihe
charity to pay out resources. Creditors are Tecognised at Iransaclion price less attributable
transaction costs.
3.15 Foreign currency
Assets and liabilities denominated in foreign currencies are translated into sterling at rates of
exchange ruling at the Balance Sheet date. Transactions in foreign currencies are translated
into sterling at the rate ruling on the date of th¢ transaction. Exchange differences are taken
into account in a￿lYing at the Net Income.
18

FRANKGIVING LIMITED
COMPANY LIIVllTED B Y GUAIL4NTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
ACCOUNTING POLICIES {continued)
3.16 Financial instrumenls
A financial asset or a financial liability is recognised only wh¢n the entity becomes a party
to the wntractual provisions of the instrument,
Basic financial instruments arc initially recognised at Ihe amount receivable or payable
including any related transaction costs. unless the 3Thangement constitutes a financing
transaction, where it is recognised at the present value of the future payments discounted at a
market rate of interest for a similar debt instrument.
Curent assets and current liabilities ar¢ subsequently measured at the cash or other
consideration expected to be paid or received and not discounted.
Debt instnunents are subs¢quently measured at amortised cost.
Where investments in shares or preference shares ar¢ publicly traded or their fair value can
otherwise be m¢asured r¢liably, the investment is subsequently mcasured al fair value with
changes in fair value re¢ognised in income and exp¢nditur¢. All other such investments are
subsequently measured at cost less impairment.
Financial assets that are measured at cost or amortised cosl are reviewed for objective
¢vidence of impairn]ent at the end of each reporting date. If there is objective evidence of
impairment. an impainnent loss is recognised under the appropriate heading in the statement
of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are
individually significant, these are assessed individually for impainnent. Other financial
assets are either assessed individually or grouped on the basis of similar Credit risk
characteristics.
Any reversals of impairment are recognised immediately, to the extent that th¢ reversal does
not result in a canying amount of ihe financial asset that exceeds what the carrying amount
would have been had the impaimient not previously been recognised.
Limited by guarantee
The charity is a company limited by guarantee and has no share capita]. The liability of eath
member in the event of winding up is limited to £1.
19

FRANKGIVING LIMITED
COMPANY LIMII"ED BY GUARANTEE
1¥40TF.S TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
INVESTMENT INCOME
Unrestricted Funds
2023
2022
Rent and charges receivable
Income from unlisted investment
Interest receivable from unlisted investment
Djvidends receivable from unlisted investment
Bank interest r¢ceivable
Loan interest receivable
Foreign exchange gain
Rele&se of debt
928,809 1,059,819
228,772
164,209
31,285
27,240
118,072
132,158
7,628
150
318,662
322.508
3,187
63,063
792,487
1,636,415 2.561,634
JNVESTMENT MANAGEMENf COSTS
Unrestrieted Funds
2023
2022
Investment property outgoings
Management and administration
Investment portfolio managetnent fees
Interest payable
189,920
46,673
161,254
303,923
206.021
43,748
158.274
420,499
828.542
701,770
EXPENDITURE ON CHARITABLE AcfiviTIES BY FUND TYPE
Ullrestricted Tot81 Funds Unrestrieted Total Fvnds
Funds
2023
Funds
2022
Grants paid
Support costs
458.480
37,333
495,813
458,480
37,333
495,813
324,200
26,494
350.694
324,200
26,494
350,694
EXPENDITURE ON CHARITABLE ACTIVITIES BY AcfIviTY TYPE
Gr*ll¢
funding of
activilies
Support Totsl Funds Total Funds
costs
2023
2022
Grants paid
Governance costs
458,480
458,480
37,333
495,813
324,200
26,494
350,694
37.333
458,480
37,333
20

FRANKGIVING LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
ANALYSIS OF GRANrs
2023
2022
GRAiYfs TO INSTITirrIoNS
Support of education and relief of poverty
Total grants
458,480
458,480
324,200
324,200
All grants and donations were paid to charitable institutions for the purposes of either the
advancement of education or the relief of poverty.
The Composition of donations is shown below:
Acheinu Limited
Amabrill Limited
Amud Hatzdokoh Trust
Baer Hatora Limited
Bels Ruchel School Limited
B¢th Jacob Grammar School for Girls LAmited
Beth Shtnuel Synagogue Limited
Bikur CILolim and Gemiluth Chesed Trust
British Friends Of Yeshivas Shaarei Chochmo
Chevras Mo'oz Ladol
Comet cl￿]tieS Lin]ited
Friends Of Bels Soroh Schneirer
Friends Of Mercaz Hatorah Belz Macnivka
Friends Of Toldos Avrohom Yitzchok
Friends Of Wiznitz Limited
Gateshead Talmudical College
Keren Habinyan Limited
Mifal Hachesed Vehatzedokoh
North London Welfare And Educational Foundation
Tchabe Kollel Limit¢d
Tov Vchesed
United Talmudical Academy Torah V'yirah
United Talmudical Associates Limited
WST Charity Limit
Y G S Yeshiva Gedola Seminar
Yetev Lev London Jerusalem Trust
Sundry donations less than £3.000 individually
22,000
10,000
50,000
9,900
3,000
24,300
3,500
10,000
3,600
16,480
7,000
30.000
20,000
18,000
8,000
3,000
loo,000
20,000
15,000
5,000
3,000
15,000
24,560
5,800
4,000
5,000
22,340
458,480
21

FRANKGIVING LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
io.
TAXATION
2023
2022
Current tax:
Current tax expense
Adjustments in respect of prior periods
Total current tax
1,094
31,069
1,094
31,076
Deferred tax:
Origination and reversal of timing differences
Impact of changes in tax rates
Total deferred tax
{461.000)
28,000
(461.000)
28,000
Tax on profit
(459,906)
59,076
Reconciliation of tgx expense
The tax &8sessed on the net income for the year is lower than the standard rate of co￿oration
tax in the UK of 20.500/0 (2022: 190/0).
2023
2022
Net income before tax
948,218 1,044.982
Net income by rate of tax
Income exempt from tax
Expenses not deductible for tax purposes
Adjustment to tax charge in respect of prior periods
Differences arising from taxalion of chargeable gains
Timing differences on unrealised gains
Timing differences on gift aid payments
Other differences
194,385
198,547
(237,546) (338,322)
151,484
137,172
1.788
(11,184)
(548,645)
109,474
(21.372) (36,480)
(138)
59.076
Taxation
(459,906)
Factors that may affect future tax charges
An increase in the main UK corporation tax rate to 25 % (effective from l April 2023) was
substantively enacted on 24 May 2021. This will increasc the subsidiaries, ￿tUre tax charge
a￿)[dingly.
The deferred tax liability at 30 June 2023 has been calculated based on the rate of 250/0
(2022: 25 %).
22

FRANKGIVINC. LIMITED
COMPANY LIMITED BI, GUARANTEE
NOTES TO THE FINANCIAL STATEMENrs
FOR THE YEAR ENDED 30 JUNE 2023
ii.
NET INCOME
Net income is stated after Chargin￿(creditIng).'
2023
2022
Fe¢s payable for the audit of the financial statements
20,400
31,320
Additional professional fees payable to the auditors aggregate £41,562 (2022: £10,740).
12.
STAFF COSTS
The average headcount of employees, including trustees during the year was nil (2022: nil).
No employee receiv¢d employe¢ benefits of more than £60.000 during the year (2022: £nil).
13.
TRUSTEE REMUNERATION AND EXPENSES
No remuneration or oth¢r benefits from employment with the charity or a related entity were
r¢ceived by the trustees.
The charity did not meet any individual expenses incurred by the Irustees for services
provided to the charity.
14.
NET MOVEMENT IN FUNDS
Of the net movement in fi￿aS of the group, a surplus of £1,408,124 (2022: £985,806) has
been dealt with in the statement of financial activities of the charity itself.
Turnover of the charity aggregated £1.039,862 {2022.. £900,781) and comprised £625.225
(2022: £520,000) of donations received and £414,637 (2022: £380.781) of investment
income.
23

FRANKGIVING LIMITED
COMPANY LIMI'fED BY GUARANTEE
NOTES TO THE FINANCIAL STATFMFNrs
FOR THE YEAR ENDED 30 JUNE 2023
15. INVESTMENTS
Freeboldl
I￿￿5th01d
investment
property
Unlisted
investment
(Lo¥n)
Unlisted
iDve8tmenÉ
Group
Totsl
Fair valuelcost
At l July 2022
Additions
Disposal
Revaluation
14,288,450 10,654,637 4,196,982 29.140,069
643,235
149,357
151.500 5.748,378
(950.000) (3,461.254) (26,961) (9,233,551)
(81.537)
620,823
(102,798)
427,538
13,900.148 7,963,563 4,218,723 26,082.434
14.288,450 10,654,637 4,196,982 29,140,069
At 30 June 2023
At 30 June 2022
Historical cost at 30 June 2023
7,590,095 5,658.388 4,304,239 17,552,722
Freeholdl
Leasehold
Shares
Investment
group
Unlisted
propety undert4kiDgs investJnent*
Unlisted
Investment
(Loan)
Charity
TotAI
Fair value/c05t
At l July 2022
Additions
Disposal
Revaluation
471,450 11,842,000 10,654,637 1,814,553 24,782,640
5,330,566
149,357
151,500 5,631,423
(3,461,254) (26.961) (3.488,215)
(5,566)
427,000
620,823
1,042,257
5,796.450 12.269,000 7,963,563 1,939,092 27,968,105
471,450 11,842,000 10,654.637 1,814,553 24,782.640
At 30 June 2023
At 30 June 2022
Historical cost at
30 June 2023
5,358,369
102 5,658,388 1.939,092 12,955.951
Investment properties held at valuation
Freehold and leas¢hold investment property is included in the financial statements at
trustees, valuation.
24

FRANKGlVtNC. LIMITED
COMPANY LIMITEI D BY GUARANTEE
NnTF.S TO THE FINANCIAL STATF.MENTS
FOR THE YEAR ENDED 30 JUNE 2023
15.
INVESTMENTS (Continued)
Valuation techniques and key inputs of investment properties
The group'slcharity's r¢sidential apartment were valued using a sales valualion approach,
derived from recent comparable transactions in the market, adjusted by applying discounts to
reflect status of occupation and condition.
The group's commercial units were valued using the income capitalisation method. requiring
the application of an appropriate market based yield io net operating income. Adjustments
are made to allow for voids when less than five years are left under the current tenancy and
to reflect market rent at the point of lease expiry or rent review.
Valuation lechniques of unlisted investment
*Unlisted investments have been professionally valued at the Balance Sheet date by the
inv¢strnent managers at Quilter.
16.
INVESTMENT ENTITIES
The charity owns directly and indirectly the entire issued ordinary share capilal of the
following companies, all of which are incorporated in Gr¢at Britain and registered in
England and Wales (unless otherwise indicated).
Comp•Dy
Nuffjb¢r
Held directly..
Spiritville Investments Limited
Heysarbor Investments Limited
1241065
0702850
Held indirectly:
2001 Nostrand Ave Investors Cory). (USA)
Meridian US Investment 2021 Inc. (USA)
Meadowood Hill¢rest SIL US Inc. {USA)
5575356
6322825
6435707
The registered addr¢ss of all subsidiary undertakings is New Burlington House, 1075
Finchley Road. London, NWI I OPU, with the exception of Meridian US Investment 2021
Inc. and Meadowood Hillcrest SIL US Inc., which hav¢ their registered address at ?51 Little
Falls Drive, Wilmington, New Castle, DE 19808, USA and 2001 Nostrand Ave Investors
Corp.. which has its registered address at 6608 18th Avenue 2. Floor, Brooklyn, New York
11204, USA.
All the subsidiary undertakings carry on the business of property investment with the
exception of the USA subsidiaries wliich cary on th¢ business of investment holding. The
financial statements of all subsidiary undertakings are made up annually to 30 June.
The market value at 30 June 2023 of investmenl in subsidiary undertakings is based on the
underlying value of assets less liabilities of the subsidiary undertakings. The valuation of
the subsidiaries have been made by the trustees of this charity, based upon the latest
Financial Staternents of the subsidiary undertakings for the year ended 30 Jun¢ 2023.
25

FRAPIKGIVING LIMITED
COMPANY LI￿lITED BI, GUARANfEE
NOTES TO THF. FINANCIAL STATEMENTS
FOR THE YEAR EfiDED 30 JUNE 2023
16.
INVESTMENT ENTITIES {Continued)
Th¢ aggregate assets, liabilities, capital and reserves for the subsidiaries as at 30 June 2023
were as follows:
2001
HeysaTbor Nostrand Ave Meridian US
Investments
Investors
Investment
Limited
Corp.
2021 Inc.
Spiritville
Investments
Limited
Meadowood
Hillcrest SIL
US Inc.
Fixed assets
Current ass¢tS
Current liabilities
Long temi liabili¢ies
Provisions
7,114.652
2.488,698
3.136,810
2,466,722
(332,034) {1,143,509)
981,279
363
(251.521)
(786.880)
275,408
119
1,022,944
24,581
(79)
(696,000)
(533,000)
Net assets
9.223,428
3278,911
{56,759)
275,527
1,047.446
Aggregate ¢4)ital and reserves
9.223,428
3,278,911
{56,759)
275,527
1,047.446
A summary of turnover, expenditure and pmfitl(loss) for the year ended 30 June 2023 is as
follows:
2001
Heysarbor Nostrand Ave Meridian US Meadowood
Investments
Investors
Investment Hillcrest SIL
Limited
Corp.
2021 Inc.
US Inc.
Spiritville
Investments
Limited
Turnover
C05t of sales
Athninistrative expenses
Pn)ri￿(loS$) on disposal of investhi¢Dt
property and other investments
Nei valuation gainsl(Ios5) on investment
property
Income from shares in group undertakings
Income from other fixed asset
investments
Interest receivabl¢ and similar income
Interest payable and similar ¢harges
810,514
(124,834)
(74,865)
91,762
(48,601)
(16,701)
{1,417)
(550)
(477)
99,520
{17,672)
(84.921)
59,235
28,918
48,354
250,315
{321,86S)
461,000
125,542
(52,360)
(62,950)
(746)
{348)
ProfiV(105s) for the financial year
,159,020
(2,951)
(64,367)
27,622
47,529
26

FIL4NKGIVING LIMITED
COMPANY LIMITED B Y GUARAKfEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
17.
DEBTORS
Group
Charity
2023
2023
2022
2022
Trade debtors
Amount due from group
undertakings
Loan debtors
T&xation and social security
Other debtors and prepayments
187,488
114,401
112,704
2,130
1,004,320 2,400.000
i 10,000
170,000
3,533,227 4,178,145
8,464
447,478
715,721
105,170
186,445
4,168,193 5.016,731 1,332,194 2,758,575
Loan debtors in respect of the group and charity include amounts due from companies,
certain directors of which are also trustees or related to the directors of companies within
this group of £2.467,929 (2022.. £3.112,847) and £110,000 (2022: £170,000). The loans are
interest bearing.
Amount due from group undertakings in respect of the clwity of £Nil {2022.. £2,400.000) is
due after rnore than one year.
18.
CREDITORS: amounts falling due within one year
Group
Charity
2023
2023
2022
2022
Bank loans and overdrafts
Loan creditors
Taxation and social security
Accruals and deferred income
Other creditors
4,968,314
2,970
2,970
2.575
64,596
226.750
157,101
54,141
26,221
286,436 5,219,202
2,996
152,933
476
37,175
476
156.405
37.651
The bank loans and overdrafts is s¢cured by legal charges over certain of the group's
investment properties which are included in the Financial Statemenls.
27

FRANKGIVING LIMITF.D
COIIqPANY LIMITII D BY G UAIL4NTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
19.
DEFEIiRED INCOME
2023
2022
At l July 2022
Amount released to income
Amount deferred in year
At 30 June 2023
23,992
56.186
(23,992) (56,186)
123,406
23,992
123,406
23.992
Deferred income arises from rents received in advance.
20.
PROVISIONS
Deferred tax:
Group
Charity
At l July 2022
Credit for the year
At 30 June 2023
1,690.000
(461,000)
1,229,000
The deferred tax account consists of the tax efftct of timing differences in respect of fair value
adjustment to investment property. There are no deferred provisions for the charity; it is
exempt from tsx due to its chartiable status on the basis that all income and gains are applied
solely for qualifying chaTitable pU￿oSe$.
28

FRANKGlVtNG LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE Fll¥ANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
21. ANALYSIS OF CHARITABLE FUNDS
Unrestrieted Funds
AtlJuty
2022
Gains and At 30 June
losses
2023
Group
Income
Expenditure
General fimds
27,903,575 1,636,415 (737.677)
509,386 29.311,699
At l July
2022
Gains and At 30 June
losses
2023
Charity
IJJ¢ome
Expenditure
General funds
27,903,231 1.039,862 (673,552) 1,042.257 29,311,798
General funds of the group at 30 June 2023 include £7,300,712 unrealised profits which are
not available for distribution.
General funds of the charity at 30 June 2023 include £15,012,154 unrealised profits which are
not available for distribution.
22.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Group
Chgrity
Unrestricted Totsl Funds Unrestrided Total Funds
Funds
2023
Funds
2023
Investsnents
Current assets
Creditors less than l year
Creditors greater than l year
Provisions
26,082,434 26,082.434 27,968.105 27.968,105
4,744,701 4,744.701 1,500.098 1,500,098
(286,436) (286,436) (156,405) (156,405)
(1,229,000) (1.229,000)
29.311,699 29,311.699 29,311,798 29,311.798
Net assets
29

FIUNKGIVING LIMJTID
COMPANY LIMITED BY GUA114NTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR EIYDED 30 JUNE 2023
23.
FINANCIAL INSTRUMENTS
The carrying amouni for each category of financial instrument is as follows:
Charity
2023
Group
2023
2022
2022
Financial assets measured at fair
value through income and
expenditure
10,243,194 13,037,066 20,232,563 22,496,637
Financial assets that are ¢quity
instruments measured at cost less
impairnient
1,939,092 1,814,553 1,939.092 1,814,553
Financial assets that are debt
instrLunents measured at
amortised cost
4,744,701 5,672.708 1,500,098 3,158,242
Financial liabilities measuTed at
amortised cost
286,436 5,219,202
156,405
37.651
24.
OPERATING LEASE COMMITMENTS
As les80r
The totaI future minimum leas¢ payments receivable under non-canc¢llable operating lease
are as follows:
Group
Ch¥drity
2023
2023
2022
2022
Not later than l ye
Later than l year and not later than
5 years
Later than 5 years
586,467
687,736
374.283
6,972
1,378.037 1,976,175
880,437
2,130.609 3,278,460
929,659
4,095,113 5,942.371 2.184,379
7.940
185,028
199,940
30

FRANKCIVING LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
25.
RELATED PARTY TRANSAcfioNS
Loan interest receivable includes amounts received from connected parties and companies
under common control of trustees of this charity of £233.438 (2022: £237,284)
Details of transactions with other related parties are disclosed in note 17.
26.
ANALYSIS OF CASH AND CASH EQUIVALENTS
2023
2022
Cash at bank and in hand
Bank overdrafts
576.508
655,977
576,508
655,977
27.
ANALYSIS OF CHANGES JN NET DEBT
At30
Non-cash June
Movement 2023
At
l July 2022 Cashflows
Cash in hand and at bank
Debt due within one year
655,977
(79.469)
(4,968,314) 4,968,314
(4,312,337) 4,888.845
576,508
576,508
31

FRANKGIVING LIMITED
COMPANY LIMITED BY GUAIUNTEE
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023
The following page does not form part of the statutory finaneial statements
which are the subjeet of the iDdependent auditor's report on pages 6 to 10

FRANKGIVING LIMITFD
COMPANY LIMITED BY GUARANTEE
ST ATETrIEf+rr OF FINANCIAL AcfiviTIES
INCORPORATING THE INC.OME AND EXPENDITURE ACCOUNT
FOR THE YEAR F.NDED 30 JUNF, 2023
THIS DOES NOT FORM PART OF THE FINANCIAL STATEMENTS
2023
Unrestricted Funds
2022
Unrestricted Funds
Ineome and endowment$
Donations and legacies
Investment income
625,225
414,637
1,039,862
520.000
380,781
900,781
Tolal income
Expenditur¢
Expenditure on raising funds:
Investment managemenl costs
Expenditure on Charitable actlVLties
Total expenditure
Net (loss)Igains on investments:
Loss on Tevaluation of investlnent
property
Gains on revaluation of investments
in group undertakings
Gains/(Loss) on revaluation of unlisted
investment
Loss on disposal of investtnent
property
(177.739)
(495,813)
(164,556)
(350,694)
(673,552)
(515,250)
(5,566)
427.000
1,264,000
620,823
(651.106)
(12,620)
1.042,257
1,408,567
600.274
985,805
Net income and net movement in funds
Reconeiliation of funds:
Total funds brought forward
Total funds carried forward
27,903.231
29,311,798
26,917,426
27.903,231