COMPANY REGISTIL4TION NUMBER: 890369
CllARTfY REGISTRATION NUMBEIL. 252370
FRANKGIVING LIMITED
COMPANY LIMITED B Y GUARANTEE
CONSOLIDATED FINANCIAL STATEMENTS
for th¢ ye•r ended
30 JUNE 2024
COHEN ARNOLD
Chartered AccounlaJ)ts & Statutory Auditor
New Burliiigton Ho
1075 Finchley Road
London
NWII OPU

FRANKGIVING LIMITED
COMPANY LIMITED BY CUARAprrEE
INDEX TO THE FINANCIAL ST ATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES
Trustee5' annual report (incorporatiDg the directoes retrt)rt)
Ito5
Independent auditorfs report to the members
Consolidat¢d slalemenl of finan¢ial activities {including the collsolidated
incom¢ gnd expenditure account)
otolo
li
Cowlidated balance sheet
12
Charity ba18nce sheet
13
Consolidated statement of cash flows
14
Notes to the financial statements
ISto31

FRANKGIVING LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES? ANNUAL REPORT
INCORPORATINC THE DIRECTORS, REPOR
YEAR ENDED 30 JUNE 2024
The tTU5tee5, who are also diredors for the purposes of company law> present th¢ir re￿rt and th¢ financial
siat¢menls of the charity and its subsidiary undertakings lor the year ¢nded 30 June 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Regiqtered Charlty najne
Ch•rlty registration number
Company registrndon numb¢r
PriD¢ipal office reg15tered
FraDkgiving Limited
252370
890369
New Burlington House
1075 Finchiey Road
London
NWII OPU
The trustee5
Mr Leslie Frankel (Chairnian)
Mrs Zisi Frankel
Mr Laurence Allan Foux
Mr Winston Samuel Gilbert
Mr Maurice Moishe Frankel
Mr Joel Frankel
Mr Ephrairn Fronkel
Mrs Zisi Frankel
CompAny se¢retary
Auditors
Cohen Arnold
Chartered Accountants & Stslutory Auditor
New Burlington House
1075 Finchley Road
London
NWII OPU
Bankers
Bar¢lays Bank PIC
21 Hanover Square
London
wis ijw
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is constituted as a company limited by guardlltee and as Suc1￿ its governing d￿Urnents atr its
Arti¢les 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 int¢rest in th¢ ¢harity. All trustees give their time voluntarily and no
benefit or ¢xpenses were paid to theJD in the year.

FRANKGIVING LIMITED
COMPANY LIMITED BY GUARANTEE
TRusfEES' ANP4UAL REPORT
INCORPORATING THE DIRECTOR'S REPOR
YEAR ENDED 30 JUNE 2024
STRucfuRE, GOVERNANCE AND MANAGEMENT (continued)
Group structure gnd relationships
The charity the following wholly owned nOnwch￿it￿b1e opet3ting subsidiaries:.
Spirityille Investtnents Limited
- a propety inv¢stmeTrt company
Heysarbour Investments Limited
- a proputy investment Company
Spiritville Invcstments Limited has the following wholly own¢d operdting subsidiaries.'-
2001 Nostrand Ave Inv¢stors Corp.
- an inveslment holding ¢ompany
Meridian US Inve5tm¢nt 2021 Inc.
- an investhient holding company
Meadowood Hill￿¢St SIL US Inc.
- an investment holding company
The trustees of this company, Mr Leslie Frankel and Mrs Zisi Frankel a￿ also directors of Spiritville
Inv¢stsnents Limit¢d and Heysarbor Invesllnenls Limited.
Related Party Transaetion$
Detsils of trnnsactions with'Relatcd Parti&8' are disclos￿1 inNot¢s 17 and 25 to th¢ Financiol Statements.
OBJECTIVES AND ACTIVITIES
The charity is established to promote and &ssisi charitable activities and institutions both in the United
Kingdom and abroad. It ha5 ¢oncentrated its activilies in promoting charitable activities of AnstitutiOtIs
professing and teaching the principl¢s of traditional Judaism, advancing religion in accordance with th¢
Jewish faith and giving philallthropic aid to the Jewish needy.
The Charity receiv¢s incomes from its cash deposits. subsidiary und¢rtakings and voluntary incom¢ from
Compani￿ ￿nn¢¢I¢d with th¢ trustea8 which it utilises in the provision and distribution of grdnts aDd donations
to organisations that fall within the objectives of the Charity.
The bustees confirni that they have refer￿d to the guidance contained in the Chatity Commission's general
guidatKc on public benefrt when trvicwing the ch*ity's aims and objectives and in planning future a¢tivities and
setting the grant making policy forthe year.
Gr4llt makinx pollcy
Grants are made to charitable inslitutiolls and or8anisations both in Great Britain and abroad which accords
with the obj¢¢ls of the charity. The trust￿ consider 011 requests which they reL*ive and make donations
b&sed on the level of funds available.
ACHIEVEMENTS AND PERFORMANCE
During the year th¢ ¢hatity ha5 continued its philanthropic activities and has maintained its SUPPOrt of
religious, ¢d￿￿￿tional and other charitable institutions in Great Britain.
The demands on the charity's fimds We￿ more than those experien¢¢d l&st year with charitable donalions for
the year tolalling £555.680 as against £458.480. The donations were met from curr¢nt incoTne of the eharity.
The finaneial results of th¢ ¢harity and its subsidiary undertakings for the year ended 30 Jun¢ 2024 are fully
refl¢cted in the attached Financial Statements iogeth¢r with the Notes the￿on.

FRANKGIVING LIMTTED
COMPANY LIMITED BY GUARANTEE
TRUSTEES, ANNUAL REPORT
INCORPORATING THE DIRECTOR'S REPORT
YEAR ENDED 30 JUNE 2024
FINANCIAL REVIEW
FiDanclg1 po8ltioD
The clwity is reliant on th¢ income from inVest￿¢11ts, the ￿mMercIal activities of its subsidiary undertokings
and voluntsry income from companies connec*d with the trustees. Income from commerciai activities of the
5ub$idiary und¢rtakings togeth¢r with income from the investm¢nts and Yoluntary donations have helped to
boost thelotsl incoming resources.
The financial position of the charity and its subsidiary undertakings is satisfactory. The charity's
Consolidat￿ slatement of financial activities shows net income of £1,462,071 (2023.. £1,408,124) and total
reserves of £30,773.770 {2023.. £29JI1,699).
Reserves policy
The Company is required to maintaiT] R&serves in Order to en5ur¢ that it is in a position to wntinuc its grant-
making activilie5 and cover contingencies of additional (xlls being made uFon th¢ charity for support of
organisations OT II]slilutions in titnes of need.
The Trustees consider it appropriate to Malntsin'F￿e Reserva8, (unrestricted funds not committed or invested in
Fixed Assct Investments) at a l¢vd which will not impinge on its abiliry to support Charitable Institutions.
The 'Free Reserves. of £1,226.442 which are represented by (part ofj the liquid fun(ts held by the charity. ar¢
¢onsidered to be adequate ond will be reviewed p¢riodi(¥lly by the tru5t¢es ofthe Charty.
A5 Ot 30 June 2024, the charity totsl funds of £30,773.355 {Group: £30,773,770). These funds includ¢
£15,730.334 (Group: £8.237,286) which arises from th¢ revaluation of the charity's inv¢stments and is not
r¢adily available for general PUTposes. Consequently? the ¢harity has r¢s¢rves of £15,043,021 (Group:
£22.536,484). aft¢r making allowance for reserves not readily available.
Inv¢$tment policy
Under the memorandum and article8 of association, the charity has the power to make any investsnenl, which
the trust¢es consider appropriate. The Tnst¢es seek inYestm¢nts whid4 over a medium terni, axe anticipated to
g¢n¢rate a dependable flow of in¢om¢ coupled with ¢apital growth.
The trusl¢¢s. having regard to the liquidity requirements of the charity and to th¢ reserves policy hav¢
opernted a policy of keeping available funds in an interest-bearing d¢p)sit account.
The tn￿te¢S co￿lder the return on investments. in tenns of iK>th Ancomc and eapital gro￿, to be sattsfactory.

FRANKC.tVlNG LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES. ANNUAL REPORT
INCORPORATING THE DIRECTOR'S REPOR
YEAR ENDED 30 JUNE 2024
FINANCIAL REVIEW (¢ontillued)
Rlsk maDagement
The Trustees have a risk manag¢ment Strategy which comprises an amnual review of the principa] risks and
unttrtainti¢S to whith the Company is ¢xp05ed, in particular ihos¢ to the operdtions and fiT)antts of the
Company. the establishment of poli¢i¢s. systems aTLd procedures to mitigat¢ those risks identified in the annual
review and the implemenlation of procedures designed io minimise or manage any ￿ential imF4¢f on the
Company should those risks m&tcrialise.
The principal risks to which the charity is exwsed are..
Liabilities arising from property investmcnt ictivity
Tenant defaults
Damage to prO￿ty from flood, fire or terrorist action
Planning co￿￿truction and letting risk in relation to redevelopmenl activity
The availability of liquid fi￿￿$ lo make grants and donations
The economic ¢ycle generally
The charity seeks to manage or mitigat¢ su¢b risks wh¢rever possibl¢ through such measures as insurance,
t¢nant 5cre¢ning and monitoring, rigorous reviews of acquisition and investment opportuniti¢s, external
expert advice, monitoring cash and regular monitoring of lh¢ ¢conomic outlook. It 1$ r¢cogniscd that systems
can only provide reasonable but not absolute assurdn¢e D￿JOr Ti5k have bccn adequately managed.
PLANS FOR FUTURE PEIUODS
The trnSte¢5 plan to continu¢ to make distributions in accord3llce with their grant making policy and to
ensure that the ability to generate sufficient income is maintained io achieve that ¢nd.
TRUSTEES, RESPONSIBILITIES
The h￿steeS, who are also directors for the purposes of company law, are responsible for preparing the
trustees, report and the finan¢i21 statemcnls in accoTdan¢¢ with applicable law and United Kingdo
Accounting Standards (United Kingdom Generally Accepted Ac¢ounting Practice).
Company law requires the charity trustees to prepar¢ financia] ststements for each year which give a trne and
fair view of the state of affairs of the group and charitable company and the incoming resouwes and
application of resources, in¢luding the income and expenditure of the group) for that period. Undu company
law th¢ Trustees must not approve the fmanciai statemcnts Un]￿ they are satisfied that they give a tNe and fair
view of the state of affaxrs of the Group and Company aDd the income and ¢XF¢nditure of the Group for that
riod.

FRANKGIVING LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES, ANNUAL REPORT
INCORPORATING THE DIRECTOR'S REPOR
YEAR ENDED 30 JUNE 2024
TRUSTEES, RESPONSIBILITIES (Conllllued}
Ln Preparing these financial statements, the truste¢s are required to..
select suitable accounting policies and then apply them o)nsistently'
observe the method5 and principles in the Charities SORP.
make judgements and accounting estimat&4 that are reasonable and prndenL and
prepar¢ the finan¢ial statements on the going conc¢rn b￿13 unless it is inappropriate to presum¢ ihat
the chwity will continue in OP¢Tation.
The tn￿tee$ are responsible for keeping adequate accounting records that are sutTicient to show and Gxplain
the Charity's transa¢tions and disc105¢ With re&8onable accuracy at any time the finan¢ia] position of th¢
ch￿lty and enable them to ensur¢ that the financial statements comply with the Companies Act 2006. They
are also responsible for saf¢guarding the assets of the charity and the group and hence for taking reasonable
steps for the prevention and dcte¢tion of fraud and other irregularities.
STATEMEprr OF DISLOSURE TO AUDITORS
Each of the persons who is a tNst¢e at the date of approval of this report confirnis that..
so far as they ar¢ awaTe, there is no relevant ￿dit infonnation of which the ¢harity's auditors are
unawar¢" and
they have t8ken all the steps that Ih¢y ought to have taken as a t￿￿ee to make themselves aware of
any relevant audit information and to establish that the charity's auditors are aware of that
infonnatio
AUDITORS
Cohen Arnold is d¢emed to have been reappointed in accordance with section 487 of the Companies Act
2006.
SLVIALL COMPANY PROVISIONS
This report h&s been pr¢pared in a¢cordanc¢ with the provisions applicable to companies entitled to the small
¢ompani¢s exemption.
The Intss, annual r¢port was approved onJ8 April 2025 and signed on behalf of the board of trustees by:
Mr L Frankel
Tn￿te¢

FRANKGTVING LIMITED
COMPANY LIMITED BY GUARANTEE
tNDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF FIL4NKGIVING LIMITED
YEAR ENDED30 JUNE 2024
OPINION
We have audited th¢ financial stat¢nients of Frankgiving Limited (the 'chariry') for the year ended
30 JUD¢ 2024 which comprise the Consolidated Stat¢menl of Fin2nciai Activities (including incom¢ and
¢xpendituff ac¢ount), Consolidated and Parent Charity Balan¢¢ Sheets, th¢ Consolidated Statement of C&sh
Flows and the related notes, including a summary of significant accounting policie5. The financial reporting
framework that has b¢¢n applied Iheir preparation is applicable law and United Kingdom A¢¢ounting
Standards. including FRS 102 Th¢ Financial Reporting Standard applicable in the UK and Republic of
Ireland Iunited Kingdom Generally Acwted Accounting Pra¢ti¢¢).
In our opinion the finan¢ial stat¢ments:
give a tru¢ and fair view of the state of the group and the charitys affairs L8 at 30 June 2024 and of the
group's incoming resources and application of resourccs. including its income and ¢xp¢nditure. for ihe
year then end¢d'
have been properly prepared in 8oc4)rdance with Unit¢d Kingdom Generally Ae¢ept¢d Accounting
have been prepared in accordance with the ttquirements of th¢ Companies Act 2006.
BASIS FOR OPINION
W¢ Conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our rcsw)nsibilitie$ under those standard5 are furth¢r deS￿ibed in the auditorfs
r¢sponsibilities for th¢ audit of the finao¢iai statcm¥nts section of our report. We are Inde￿ndent of th¢
charity in accordan¢e with the ￿hicaL requirements that are r¢levant to our audil of the financial statements in
the UK, in¢luding the FRC'S Ethical Standard, and w¢ have fulfilled our other ethical ￿sponsibl]It￿eS in
accordan¢¢ with these requirements. We believe that the audii ¢videncc we have obtained is sufficient and
appropriate to provide a basis for our opinion.
CONCLUSIONS RELATtNG TO GOING CONCERN
We have nothing to report in re$￿et of the following fflattets in relation to which the ISAS (UK) require us
to report to you wh¢re.'
the Iruste¢s' use of the going Concern basis of acrounting in the prepaTation of the financial statements
is not approprial¢: or
the trustees have not disclosed in the consolidal¢d financial statements any id¢ntified material
unc¢rtainties tI￿t may ¢ast signifirant doubt aknut ihe charity's ability to continue lo adopt the going
concern b&%is of accounting for a p¢riod of at l¢ast twelv¢ months from the date when the ¢onsolidated
financial statements are authoris¢d for issu¢,

FRANKGIVING LIMITED
COMPANY LIMITED BY GUARANTIIE
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF FRANKGIVING LtMITED
Continued
YEAR ENDED30 JUNE 2024
OTHER INFORMATION
The other inforn￿tion comprises the inforniation included in the Trustees, annual report, othcr than the
financial stalemenls and our auditor's report thereon. The trustees are responsible for th¢ other inforniation.
Our opinion on the financial statements does not ¢over ihe other infomiation and. except to thc ¢xtent
otherwise explicitly stat¢d in our report. we do not express any forni of assurance conclusion thereon.
In connection with our audit of the fjnancial siatements. our responsibility IS to read the other information
and, in doing so. consider whether the other infom2UOJI is materially inconsistent with the financial
stat¢ments or our knowlcdge obtsin¢d in the audit or otherwise appears to be Jnaterially misstated. If we
identify such material inconsistencies or apparent Mat¢ri￿ misststemenls, we are required to deternJin¢
whether ther¢ is a material misstatem¢Dt in the fLt)2ncial statements or a material misststem¢nt of thc other
infornialion. If, bascd on the work we have ￿rfOrn1ed, we conclude that therc is a material misstalement of
this other inforniation, we ar¢ required lo r¢port that fact.
We have nothing to rqK)rt in this regard.
OPINIONS ON OTHER MATTERS PRESCIUBED BY THE COMPANIES ACT 2006
In our Opinio￿ based on the work undertak¢n in the course of the audit:
the infonnation given in the trustees, ￿port for the financial year for which the finan¢ia] 5tat¢ments ar¢
prepared is consistent with the fstWLcial statements. and
the trustees, report has been prepara in ￿Cordance with applicable legal requiretnents.
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEFIION
In the light of the knowledg¢ and und¢rstallding of the charity and its environment obtained in the coursc of
the audit. we have not tdentified material mis5tstements in the trustees, report.
We have nothing to rep)rt in resp¢rt of the following rnatters in relation to which the Companies Act 2006
r¢quires us to report to you if, in our opinion:
adequate accounting records have not been kepL or Ietums adequate for our audit have not been
received from branche5 not visited by us. or
the consolidated financial statements are not in agreement with the accounting records Teturns.
¢ettiin dis¢losur¢s of tr￿te¢s, remuneration specified by law are not made" or
we have not received all the information and explanations we r¢quiTe for our audii.
the tn￿te¢S weTe not entitled to Prepare th¢ financid staternents in accordanc¢ with the small companies
regime and take advantage of the small Companies, exunptions in preparing the directors. reix)rt and
from the requirement to prepare a strategic report.

FRANKGIVING LIMITED
COMPANY LIMITED BY GUARAKfEE
INDEPENDENf AUDITORS, REPORT TO THE MEMBERS OF FRANKGIVING LIMITED
Contlnued
YEAR ENDED 30 JUNE 2024
RESPONSIBILITIES OF TRusfELS
As explained more fully in the t￿￿tees. responsibilitie5 StatemenL the trust¢¢s (who are also the directors for
the pu]TKts¢s of company law) are responsible for th¢ preparation of th¢ financial statements and for being
satisfied ihat they give a true and fair view, and for su¢h internal control &s thc tr￿SteeS d¢termine is
nece550ry to enable the preparation of financial statements ihat are free from material misstat¢menL whether
due to fraud or error.
rn preparing the financial statements. the trust¢es are reswnsiblc for assessing the charity's ability lo
colltinue as a going ¢oD¢ern. disclosing. as applicable, Jyotters r¢lated to going concern and using the going
concern basis of accounting unless the trustees eiiher intend to liquidats the ¢h&rity or to ceasc operntitsns. or
have no r¢&listic altcrn8tive bui to do so.
AUDITORtS RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
Our objectiv¢s are 10 obtain reasonable assurance about wh¢ther the financial stai¢ments as a whol¢ are free
from mat¢rial misstatement, whether due to fraud or error. and to issue an auditor's report that includes our
opinion. Rrasonable assurdnce is a high level of &ssur2nce, but is not a guardntee that an audit condu¢ted in
aceordaftce with ISAS {UK} will always dete¢t a mat¢rial misstatement when it exi51s. Misstatements can
arise from fraud OT ¢ffor and are considered material if. individually or in the aggregate, they could
re&sonably be &xpected to influence the ¢¢onomic decisions of users taken on the basis of thes¢ fLnancial
ststemcnts.
IrregulaTiti¢s. includiDg fraud, are instances of non-compliance with laws and r¢gulations. W¢ design
procedures in lin¢ with our responsibilities. outlined above, to detect material mi$5tatements in
respect of irregularities. including fralld. The ext¢nt to which our procedures are capable of detecting
irregularilies, including fraud is dethil¢d below:
We obtsined an understanding of the Icgal and regulatory frameworks that are applicable to the
group through discussion with the dir¢¢lors and identified financial reporting legislation, landlord
1¢8islation and Charity legislation as being most significant to th¢se financial stalcments.
We communicated these identified framcworks a￿OngSt our audit team and remain¢d alert to any
indications of non-cotnpliance throughout the audit. We en&U￿d th#t the engagement team had
sufficient competence aDd capability lo identify or recognise non•compliance with the laws and
regulations.
We discuss¢d with th¢ directors the policies and procedures regarding compliance with these legal
and regulatory frameworks.
W¢ assessed the sus(zptibility of the group's f￿anCial statem¢nts to material misststement due to
non•compliance with l¢gal and regulatory frdmeworks. including how fraud might occur, by enquiry
with th¢ directors during the planning and finalisation phases stages of our audit and by using
pmprietary dis¢losure checklists. The sus¢eptibility io such material misstatem¢nt was d¢terniined to
b¢ low.
Based on this understanding. we designed our audit priKedur¢5 to identify non-compliance with the
identified legal and regulatory framworks, which were part of our Procedures on the related
financial statetn¢Dt items.

FRANKGTVING LIMtTED
COMPANY LIMITEI D BY GUARANTEE
INDEPENDErfr AUDJTORS, REPORT TO THE MEMBERS OF FRANKClVtNG LIMITED
Continued
YEAR ENDED
O JUNE 2024
AUDTfoR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
(eontimued)
Owing to th¢ inherent limitstions of an audiL th¢re is aT) unavoidable risk that we may not hav¢ detected
some Material misststementg in the finan¢ial statements. ev¢n though we have properly planned and
perfortn¢d our audit in a¢¢ordance with auditing standards. For example, th¢ further removcd non-
compliance with laws and regulations {irregularities) is from the ev¢nts and tronsactions reflected in the
financial ststements, the less likely the inherently limited procedur¢s required by audifing standards would
identify it. In addition. as witl) any audiL ther¢ remained a higher risk of non-detection of I￿egUlaritIeS. 0$
these may involve collusion, forg#ry, intention81 omissions. misrepresentations, or the ovrrride of internal
controls. We are not resp)nsible for preventing non4omplian¢e and cannot be eXp￿ted to detect ntsn-
compliance with all laws and regulations.
As part of an audit in accordance with ISAS IUK). w¢ ex¢Kise professional judgment and maintain
professional sc¢pticism ihroughout the audit. We also:
Identify and &8sess th¢ risks of material misstatement of the financial statements. whether due to fraud
or error, design and perforni audit procedures r¢sponsive to those risks, and obtain audit evidence that 1$
sufficient and appropriat¢ to provid¢ a b&sis ftsr our opinion. The risk of not detecting a material
misststement resulting from fraud is higher than for one r¢sulting from error, ￿ fraud may involve
collusion, forg¢ry. intentional omissions. misrepreseniations, orthe override of internal ¢ontrol.
Obt&in an Und¢￿tandIng of internal control relevant to the audit in order to design audit procedures th8t
are appropriate in the cir¢umstances. but not for the PUTPOS¢ of expressing an opinion on the
effecliveness of the int¢rnal control.
Evaluate the appropriateness of ac¢ountiDg policies uscd and the reasonableness of a¢￿untIng
estimates and related disclosures made by the tnistees.
Conclude on the appropriateness of the trust¢¢s' use of the going concern basis of accounting an¢1 b&sed
on the audit cvidence obtained whether a materia] un¢ertainty exists related to events or ¢ot]ditions ihal
may cast significant doubt on the ch8Jity'S ability to continue as a going conc¢m. If wc conclude thal a
mafrrial uncertainty exists, we are required to drnw att￿tIOn in our auditor's r¢port to the related
dis¢losures tn the financial statem¢nts or, if such disclosures are inadequate, to tnodify our opinion. Our
con¢lusions are b&s¢d on the audit evidence obtained up to the date of our auditor's report. Howevcr.
future events or conditions may cause th¢ chwity to ¢e￿e to continue as a going concern.
Evaluate the overall presentation. s¢ntclure and content of the financial statements, including the
disclosures, and whether the financial ststements represent th¢ underlying tra￿5&¢t10nS and events in a
matmer that achieves fair presentation.
Obtsin suffici¢nt &ppropriate audit evidenc¢ regarding the financial infonnalion of th¢ enlities or
business activities wsthin the group to express an opinion on the consolidated financial statements. We
are res]x)nsible for the direction, supervision and perfornian¢¢ of the group audit. We remain solely
responsible ftsr our audit opinion.
We Comm￿lca1e with thos¢ charged with govemance regarding, among other matters, the planned SCOPE
and timing of the audit and signifiL￿1 audit finding5, includiiig any significant defici¢nci¢s in interrjai
Control that we identify durtng our audiL

FRANKGIVING LIMITED
COMPANY LIMITED BY GUARANTEE
JNDEPENDENT AUDITORSI REPORT TO THE MEMBERS OF FtL4NKGIVING LIMITED
Continued
YEAR ENDED 30 JUNE 2024
USE OF OUR REPORT
This report 15 tnade solely lo th¢ charity's ￿emberS, as a body, in accordance with Chapter 3 of Part 16 of the
Compani&s Act 2006. Our audit woik been undertaken so that we mighi state lo the charity's members
thos¢ matters we are required to stat¢ to them ill an auditols report and for no other purpose. To the fullest
extent p¢rtnitted by law. we do not accept or ￿Sum¢ responsibility to anyon¢ other than the ¢harity and the
charity's members as a body) for our audit Work, for this report, or for the opinions we h2ve fornied.
DOV HAR￿s
(Senior Statutory Auditor)
For and on b¢haif of
COHEN ARNOLD
Chartered Accountants & Stattrtory Auditor
New Burlington House
1075 Finchley Road
LONDON
NWII OPU
Dat¢: 23 April 2025
Our audit was completed on ?8 April 2025 and our opinion was expressed at that date.
io

FRANKGIVING LID+llTlI D
COMPANY LIMITED B Y GUARANTEE
CONSOLIDATED STATEMENT OF FINANCIAL ACTtVlTIES
INCLUDING THE CONSOLIDATED INCOME AND EXPENDITURE ACCOUf4T
FOR THE YEAR ENDED 30 JUNE 2024
2024
Unrestricted Funds
2023
Unrestrleted Funds
Note
Incom¢ And endowments
Jnvestmenl income
1,458,219
1,458.219
1,636,415
1,636.415
Total income
Expenditure
Exp¢nditure on raising funds:
Investment management costs
Expenditure on charitsble activities
Total expenditure
Net gains on investments:
Gainsl(Loss) on revaluation of
inv¢stment property
Gains on revaluation of
unlisted investment
Gains on disposal of investment
propety
(446,530)
70 (585,676)
(701.770)
{495,813)
(1,032,206)
(1,197.583)
85,844
(81,537)
828.720
518,025
112,940
72,898
1.027,504
1,453,517
509.386
948,218
Net illeome befor¢ tax
Taxation
io
8,554
459,906
N¢t income alld llet movemenl in
funds
li
1.462,071
1,408,124
Reconciliatiott of fullds:
Total funds brought fonvard
TotAI funds ¢arried forward
29,311,699
30,773.770
27,903,575
29,311,699
21
The statement of financial activities include5 all gains and losses recognis¢d in the year. All income
and expenditure derive from rontinuing activities.
The notes on pages 15 to 31 form part of th¢s¢ fmancial ststements.
li

FRANKGIVtNG LIMITED
COMPANY LIMITED BY GUARANTEE
CONSOLIDATED BALANCE SHEET AS AT 30 JUNE 2024
2024
2023
No¢¢
FLXED ASSETS
Jnvestm¢nts
15
28,101,178
26,082,434
CURREiYf ASSETS
Debtors
Cash at bank and in hand
17 3,820.934
309,163
4,130.097
4,168,193
576,508
4.744,701
cRED￿ORS. amounts falllng due
within on¢ year
18 {250,505)
(286,436)
IYET CURRE￿ ASSETS
TOTAL ASSETS LESS CiJRRENr
LL4BILITIES
3.879,592
4,458.265
31,980.770
30,540,699
PROVISIONS
20
{1207,000)
30,773,770
(1,229.000)
29,311.699
NET ASSETS
FUNDS OF THE CHARITY
Unrestricted ￿ndS
21
30.773,770
30,773,770
29,311.699
29,3 I 1.699
Totsl eharlty funds
These financiaI statements w¢re approved by the board of t￿￿te¢S and authorised for issue on
a8 April 2025 d are Sig
d on behalf of the board by:
r L Frankel
Truste¢
Company Registration Number: 890369
The notes on pages 15 to 31 forni part of these fmanGial statements.
12

V114NKGThryNG LIMITED
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET AS AT 30 JUNE 2024
2024
2023
Note
FIXID ASSETS
Investments
15
29,546,913
27,968.105
CURREI¥4T ASSETS
Debtors
Cash at bank and in h8nd
17 1,232,550
137,690
1,370,240
1,332,194
167,904
1,500,098
CREDITORS: amounts falling du¢
within one year
18 (143,798)
(156.405)
NET CURRENT ASSETS
1,226,442
30.773,355
1,343,693
29.311,798
NET ASSETS
FUNDS OF THE CHARITY
Unrestricted fvnds
21
30,773,355
30,773,355
29,311,798
29.311,798
Totsl charity funds
These financial statements were approved by the board of trustees and authorised for issue on
28 Apr
y202kaQare signed on behalf of the board by:
Trustee
Company Registration Numb¢r: 890369
The notes on page5 15 to 31 fonn part of these financial statements.
13

FRANKGIVING LIMITED
COMPAPIY LIMrrii D BY GUARANTEE
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUIYE 2024
Note
2024
2023
CASH FLOWS FROM OPERATtNG ACTivrfiES
Net in¢ome
1,462.071
1.408.124
Adjv5tmentsfor.'
Net gains on Anveslments
Dividends. interest and rents from investments
Interest receivabl¢ and sitnilar income
Accrued {income)lexpenses
Payments for eX&￿ditUre on investtnent prop¢rties
Payments for expenditur¢ on other illves¢m¢nt
Int¢r¢st payable and similar charges
Current and deferred tsx
(1.027,504) {509.386)
(1,174,809) (1.306.938)
(283,410) (326,290)
(38,534)
35.229
297J08
189.920
111.941
161,254
7.168
303,923
{8,554) (459.906)
Changes In..
Trade and other d¢bto
Trade aDd other creditors
(15.325)
(64.623)
(3.142)
(34.101)
(672.790) (602.794)
9,507
7.628
(13.446)
(1,094)
(676.729) (596.260)
Cash ￿ in generat¢d from operaiions
Int¢rest receiv
Tax paid
Net cash used in operating adivities
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends. int¢rest and rents from investments
C8sh receipts froln the repayment of advances and loans
Purchase of investment properties
Purchases of other investments
Pr(tteds from sale of investment properties
Proceeds from sale of other investments
Payments for expenditure on investment properties
Payments for expenditure on other investments
Net ￿$h generated from Inv￿ting activities
1.306,140
1,889.018
518.033
747,957
(210,458) {643,2351
(1.005,663) (300.857)
112,940
1.022,898
111.941
3,488,215
(297.308) {189.920)
{111,941) (161.254)
423,684
5,852,822
CASH FLOWS FROM FINANCING ACTIVITILS
ReyaymcJJts of borrowings
Interest paid
Net cash used in financing activities
(285) (4,968.314)
{14,015) (367,717)
(14,300} (5.336,031)
NET DECREASE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
CASH AIYD CASH EQUIVALEPITS AT END OF YEAR
(267,345)
576,508
309,163
(79.469)
655,977
576.508
26
Th¢ notes on pag&s 15 to 31 form pirt of these financial statements.
14

FRANKGIVING LtMITED
COIWANY LIMITED BY GuA￿TEE
NOTES TO THE FINANCIAL STATEMETrrrs
FOR THE YEAR ENDED 30 JUNE 2024
GENERAL INFORMATION
The charity is a private company limited by gu￿antee. registered in England and Wales and
a re8iStered charity in England and Wales. The address of the registered office is New
Burlington House, 1075 Finchley Road Londo￿ NWI I OPU.
STATEMEN[ OF CO￿LIANcE
These financial statements have been prepar¢d in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, 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 POIJCIES
Basis ofpreparation
The fLnancial ststements have been prepared on th¢ historical rost basis, as modified by the
revalualion of certain financial assets and liabilities and investment properties measur¢d at
fair value throu￿) income or expenditur¢.
The financial ststements ar¢ prepared in sterling, which is the functional currency of the
entity.
The charity meets the definition of a publi¢ benefit entity under FRS 102.
32
Going coneern
The financial statements have been prepared in acGordance with the accounting principles
appropriate to a going GOD¢¢rn, as the trustees have a reasonabl¢ expectstion that the charity
h&s adequate resources to continue in operational existence for the foreseeable future by
meeting its liabililies as they fall due, b&sed on the net CUTrent &8set position of the Charity
and available sources of finance.
Group financial statements
These Financial Ststements 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 advantsge of the ¢xemptions ￿Orded by section 408 of the
Companies Act 2006. However, the Statement of Financial Activities for the charity is
separately filed with th¢ Charity Commission.
15

FRAI¥KGIVtNG LJTrUTED
CO￿ANy LIMtTED BY GUARANfEE
NOTES TO THE FINANCIAL STATEMEr(rs
FOR THE YEAR ENDED 30 JUNE 2024
ACCOUNTll¥G POLICIES (continued)
Judgements and key sources of eslimation uncertainty
Judg¢m¢nls made by the directors in the application of these accounting policies that have
significant effect on the financial statements and estirnates with a significant risk of material
adjustment in the next year are as ftillows:
(i) Property valuation
The valuation of the charity's investment property is inherently 5ubjectiv< depending on
many factors including the nature of the property. its location and expected future nel rental
valucs, market yields and ¢omparable market transactions. Therefore ihe valuation is subjcct
to a degree of uncertainty and is made on the basis of assumptions which may not prove to
be accurdt¢. particularly in periods of difficult market or economic conditions.
(ii) Trade and other debtors
Management uses details of the 8ge of trade and other debtors and the status of any disputes
together with ext¢rnal evidence of the credit status of the ¢ounterparty in making judgements
¢onceming any need to impair the wrying value.
Fulld g4CCOUllting
Unrestrided ￿ndS are available for use & the discretion of the ttustees to fi]rther any of the
charity's purposes.
Designated fund5 are unrestrict¢d fimds eamiarked by the trustees for particular project
or ¢ommitknent. There are no designated funds as at the balaDce sheet date.
Restricted fimds are subjected to restrictions on their C￿end1(Ur¢ declared by the donor or
through the terms of an appeal, and fall into one of two sub-clL8ses: restricted income fijnds or
endowment ￿nds. There are no restri¢ted fi￿d$ as at the balance sheet date.
Ineomlllg resoureoq
All income is included in the statement of financial activities when entitlement has passed to
the charity, it is probable that the ¢conomi¢ benefits associated with the transaction will flow
to the charity and the amount can be reliably measured. Thc following specific policies are
applied to particular categories of income:
- income from donations or grants is recognised when received.
16

FRANKGIVING LIMITEI D
COMPANY LIMrrED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENrs
FOR THE YEAR ENDED 30 JUNE 2024
ACCOiJNTING POLICIES (colltinued)
Rosourca expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure
in¢ludes any VAT which cannot be ￿llY recovered. aDd is classified under headings of the
statement of fLnancial activilies to which it relates..
- expenditure on raising funds includes the costs of all investment management costs.
expenditure on charitable a¢tivities in¢ludes all costs incurred by a ¢harity in undertaking
activities that fvrther its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating to the govemance of the charity apportioned to ¢haritable
athivities.
All costs are allocated to ¢xpenditUTe categories reflecting the use of the resource. Direct
costs attributable to a single activity are allocated dir¢¢tly to that activity. Shared costs are
apportioned between the activities they contribute to on a re&50nable, justifiable and
consistent basis.
Thg following Sp￿lfi¢ poliGi¢s are applied to particular categories of expenditure:
- grants and donations are recognised when paid.
Taxation
The charity is not liable to C￿￿ent tax on its income as it falls within the various exemptions
available to registered 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
ex¢mpt from taxation.
Deferred tax is recognised in respect of all timing differences at the reporting date.
Unrelieved tax Iosscs and other d¢ferred tax assets are recognised to the extent tbat it is
probabl¢ that they will be recovered again51 the reversal of defetTed tax liabilities or other
ture taxable profits. Def¢￿ed tax is measured using the tax rates and laws that have been
enacted or substantively enacted by the reporting dat¢ that arc expected to apply to the
reversal of the timing diff¢r¢nce.
3.9 Unlisted inve5tm¢nts
Unlisted equity investments are initially recorded at ¢os¢ and subsequently measured at fair
value.
17

FRANKGIVING LIMITED
COMPANY LIMrfED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
ACCOUNTING POLICIES (continued)
3.10 Investment in sub$idiary undertakings
Shareholdings a¢quired in subsidiary undertakings are shown at market value as valued by
the trustees.
3.11 Acquisltlons and dlsposals
Acquisitions and disposals of propertles are considered to take plac¢ at the date of l¢gal
completion and are included in the financial statements ac¢ordingly.
3.12 Investment property
tnvestment properties are prop¢rties whi¢h are held either to earn rental income or for
pital apprc¢iation or for IKTrth. Jnvestment properties are T¢cogn15¢d initially at cost.
Subsequent to initial recognition
Investment properties whose fair value be measured reliably without undue Cost or
¢ffort are held at fair value. Any gains or losses arising from changes in the fair value are
Tecognlsed in the profit and loss account in the period that they arise. and
No depreciation is provided in resp¢¢t of investment properties applying the fair value
model.
Inv¢stment property fair value is detemiined by the trustees based on their understanding of
property market conditions and the specifi¢ property concemed, using a Sales valuation
approach, derived from recent comparable transaclions on the market, adjusted by applying
discounts to reflect statu5 of occupation and condition.
3.13 Debtors
Debtors are recognised and carried forward at invoiced amounts l&ss provisions for any
doubtful debts. Bad debts are written off when identified.
3.14 Creditor5
Creditors are recognised as soon as there is a legal or Constructive obligation committing the
Charity to pay out resources. Cr¢ditors are recognised at transaction price less attributable
transathion 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 rat¢ ruling on the date orth¢ transaction. Exchange differences are taken
into account in arriving at the Net Income.
18

FRANKGlVtNG LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR EIYDED 30 JUNE 2024
ACCOUNTtNG POLICIES (continued)
3.16 FiD4n¢fial instruments
A financial asset or a financial liability is r¢co8ni5ed only when the entity becomes a party
to the contractual provisions of the instrument.
Basic financial instruments are initially re¢ognised at the amount re¢ekvable or payable
including any related transaction costs, unless the arrangement constitutes a financing
transaction. where it is recogtjised at the pr¢sent value of the fvture payments discounted at a
market rate of interest for a similar debt instrument.
Current assets and OU￿¢nt liabilities are subsequently measuT¢d at thc cash OT Other
consideration expected to be paid or received and not discounted.
Debt instrum¢nts are subsequently measured at amortised cost.
Where inv¢stments in shorts or preference shares are publicly traded or their fair value can
otherwise be measured reliably, the investment is subsequently measured at fair value with
changes in fair value r¢¢ognised in income and expenditure. All other such investments are
subsequently measured at cost less impairnient.
Financial ass¢ts that are measured at cost or amortised cost a￿ review¢d for objective
evidence of impainnent at the end of ca¢h reporting date. If there is objective evidence of
impaimient. an impairnient loss is recognised under the appropriate heading in the statement
of financial activities in which th¢ initial gain was recognised.
For all equity instruments regardle&8 of signifiwice, and other fiTtan¢ial assets that are
individually significant. these are ass¢ss¢d individually for impainnent. Other flnancial
&8sets are either assessed individually or grouped on the basi5 of similar credit risk
characteristics.
Any r¢versals of impairnient are recognised immediately, to the extent that the reversal do¢s
not result in a carrying amount of th¢ fmancial asset that exceed5 what the ¢hnying amount
would have been had the impairnient not previously been recognised.
Llmited by guarantee
The charity is a company limited by guarantee and has no share capital. The liability of each
member in the event of winding up is limited to £1.
19

FRANKGlVtNG LIMrrED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Unrestricted Funds
2024
2023
Rent and charges receivable
Income from unlisted investment
Inter¢st receivable from unlisted investment
Dividends receivable frotn unlisted investment
Bank int¢rest re￿1Vable
Loan intergst receivable
Forei8n exchange gain
933,772
67,186
58.294
115,557
9.507
273,903
928.809
228,772
31,285
118,072
7,628
318.662
3,187
1,458,219 1.636,415
tNVESTMENT MANAGEMENf COSTS
Unrestricled FuDds
2024
2023
Investtnent property outgoings
Management and administration
Investment portfolio management fees
tnterest payable
Foreign exchange loss
297,308
27,611
111.941
7,168
2,502
446.530
189.920
46,673
161,254
303,923
701,770
EXPEIYDrruRE ON CHARITABLE ACTIVTfIES BY FUND TYPE
Unre5tri¢t¢d Total Fun(Ls Unrestri¢t¢d Totsl Funds
Funds
2024
Funds
2023
Grants paid
Support Costs
555,680
29,996
585.676
555.680
29,996
585,676
458.480
37,333
495.813
458,480
37.333
495,813
EXPEIYDfruRE ON CHARITABLE ACllVITIES BY AcfIvITY TYPE
Gr#nt
fundlng of
*¢tfivltles
Support Total FuDd$ Totsl Funds
¢05ts
2024
2023
Grants paid
Govemance costs
555,680
555,680
29,996
585,676
458,480
37,333
495.813
29,996
29.996
555,680
20

FRANKGlVtNG LIMITED
COMPANY LIMITED BY GUARANfEE
NOTES TO THE FINANCIAL STATEMEwrs
FOR THE YEAR Ef4DED 30 JUNE 2024
ANALYSIS OF GRANTS
2024
2023
CRANTS TO INSTITUTIONS
Support of education and relief of poverty
Total grants
555.680
555,680
458,480
458,480
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
Aniyei Haolam Trust
Baer Hatora Limited
Bikur Cholim and Gemiluth Chesed Trust
British Friends of Yeshivas Sha&r¢i Chochmo
Care All Limited
Chevras Mo'oz Ladol
Craven Walk Beth Hamedrash Trust
Edupoor Limited
Friends of Bels Soroh Schneirer
Friends of Toldos Avrohom Yitzchok
GUR Community Welfare Society
Keren Habinyan Limited
Mifal Tzedoko V'chesed Limitsj
One Heart- Lev Echod
Sharei Chaim
Support the Charity Worker
Talmud Torah Education Limited
Teshuvoh Tefilloh Tzedokoh
The Rehabilitation Trust
The TMC Trust Limited
The Woodst(Kk Mikvah Limited
Torah {5759) Limited
Tov Vchesed
United T&lmudical Academy Torah V'yirah
United Talmudicai Associates Limited
WST Charity Limited
Yeshiva Karlin Stolin Lakewood
Y.M.E.R CIO
Y O S Yeshiva Cvedola Seminar
Yetev Lev London Jerusalem Trust
Yishaya Adler Memorial Fund
Sundry Donations < £3,0(K) Individually
24,000
10,000
7,600
4.000
7,200
10,000
22,650
19.000
5,0(H)
I I,o(M)
89,200
10,000
100,000
5,000
10,000
4.000
10.000
5.000
4,300
30.000
10,000
3,600
5,000
8,000
14,200
62,000
7,800
8,000
9,650
9,000
4,000
3.000
23,480
555,680
21

FRANKGIVING LIMrrED
COMPANY LIMITED BY GUARANfEE
NOTES TO THE FINANCIAL STATEMENrs
FOR THE YEAR ENDED 30 JUNE 2024
10. TAXATION
2024
2023
Cllrrent tsx:
Current tax expense
Adjustments in r¢spLXt of prior periods
Total current tsx
1,094
13,446
13,446
1,094
Deferred tax:
Origination and reversal of timing differences
Impact of changes in tsx rates
Total deferred tsx
(22,000) (461,000)
{22,000) (461,000)
Tax on profit
(8,554) (459,906)
R￿0￿c1]latIOn of tax expense
Th¢ tax asses5¢d on the net income for the year is lower than the standard rate of ￿n)0ratIOn
tax in the UK of 250/0 (2023: 20.500/0).
2024
2023
Net income befrire tax
1,453,517
948,218
Net in¢ome by rate of
Income exempt from tax
Expenses not deductibl¢ for tsx purpos¢s
Adjustment to tax Charge in respeGt of prior periods
Differences arising from taxation of chargeable gains
Timing diff¢rences on unrealised gains
Timing difftrences on gift aid payments
Other differences
363,379
194.385
(366,612} (237.546)
205,866
151,484
13,446
(7,250)
1.788
(250,641) {548,645)
33,258
(21,372)
T&xation
(8,554) (459,906)
Faclors that may affect future tax charges
An increase in the main UK corporation tax rate to 250/0 (eff¢ctiv¢ from l April 2023) was
substantively enathd on 24 May 2021. This will increase the subsidiaries, futtwe tax charg¢
accordingly.
The deftrred tsx liability at 30 June 2024 has been Calculated based on the rate of 250/0
(2023: 250/0).
22

FIL4NKGtVlNG LIMITED
COMPANY LIMITED BY GUARANfEE
P40TES TO THE FINANCIAL STATEMENTS
FOR THE YEAR EF4DED 30 JUNE 2024
11. NET INCOME
Net income is stated after chargingl(¢rediting):
2024
2023
Fees payable for the audit of the financial statements
24,000
20,400
Additional professional fe¢s payable to the auditors aggr¢gate £22.510 (2023: £41,562).
12.
STAFF COSTS
The average headcount of cmployee5, including trustees during the year was nil (2023: nil).
No employee received ¢mploy¢e benefits of more than £60,000 during thc year (2023: £nil).
13. TRUSTEE REMUNEIi4TION AND EXPENSES
No remuneration or other benefits from employment with the charity or a related entity w¢re
received by the trustee5.
The charity did not mcet any individual expenses incurred by the trustees for services
provided to the charity.
14. NET m0vETr￿NT IN FUNDS
Of the net movement in funds of the group. a surplus of £1.462,071 (2023: £1,408,124) has
been dealt with in the statement of financial activities of the charity itself.
Turnover of the charity aggregated £1.459,080 (2023: £1.039,862) and comprised £665.074
(2023: £625,225) of donations received and £794.006 (2023: £414,637) of investment
income.
23

FIL4NKGtVING LIMITED
COMPANY LIMITED BY GUARANfEE
NOTES TO THE FINANCtAL STATEMENrs
FOR THE YEAR ENDED 30 JUNE 2024
15. INVESTMENTS
Fretholdl
Leasehold
investment
Unlist¢d
prop¢rty Investment.
Unlisted
inY¢$tment
(Loan)
Group
Totsl
Fair valueltost
At l July 2023
Additions
Disposal
Revaluation
13,900,148 7,963,563 4.218,723 26,082,434
210.458
873,851
131,812 1,216,121
(111.941)
(111,941)
85.844
817,480
11,240
914,564
14.196,450 9.542,953 4,361.775 28.101,178
13,900,148 7,963,563 4,218,723 26,082.434
At 30 June 2024
At 30 June 2023
Historical cost at 30 Junc 2024
7,800.553 6,420,298 4,436,051 18,656,902
Freeholdl
Le#$ehold
Share5 i
investment
group
Unllsted
property undertakings IDvestmeni*
Unlisted
investment
(IAfvan)
Charity
Tot¥1
Fair valueleost
At l July 2023
Additions
Disposal
Revaluation
5,796,450 12,269,000 7,963.563 1,939,092 27,968,105
34.300
873,851
64,418
972,569
(111,941)
(111,941)
85,700 (185.000)
817,480
718,180
5,916.450 12,084.000 9,542,953 2.003,510 29,546,913
5.796,450 12,269,000 7.963,563 1,939,092 27,968,105
AI 30 June 2024
At 30 June 2023
Historical c05t at
30 June 2024
5,392,669
102 6,420,298 2.003,510 13.816,579
Investment propertles held 4t valuRlloll
Freehold and leasehold investment property is in¢luded in the financial slatem¢nts at
trustees, vaIuation.
24

FRAIYKGIVING LIMJ tTED
COMPANY LIMtTED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
15.
INVESTMENTS (Conllnued)
Valuatioll techniques and key inputs of iuvestjnent properlies
The group'slcharity's residential apartment were valued using a sales valuation approach,
derived from recent comparable transactions in the market, adjusted by applying discounts to
refl¢¢t status of o¢cupation and condition.
The group's commercial units were valued using the income capitalisation method, rquiring
the application of an appropriate market bas¢d yield to net operating income. Adjustments
are made to allow for voids when less than five yeajs are left under the current tenancy and
to reflect market Tent at the point of leas¢ expiry or rent review.
Valuation teehniques of unlisted investm¢nt
*Unlisted investm¢nts have been professionally V￿Ued at the Balance Sheet dats by the
investment managers at Quilter.
16.
I￿￿sT￿ENT ENTITIES
The charity owns directly and indirectly the entire issued ordinary share capital of the
following companies. all of which are incorporated in Gr¢at Britain and registered in
England and Wales {unless othenvise indicated).
Company
Number
Held directly:
Spiritville Investments Limil¢d
HeysaA)or Invesfrnents Limited
1241065
0702850
Held indirectly..
2001 Nostrand Ave Investors Corp. (USA)
M¢ridian US IDvestment 2021 Jnc. (USA)
M¢adowood Hillcrest SIL US Inc. (USA)
5575356
6322825
6435707
The registered address of all subsidiary undertakings is New Burlington Housé 1075
Finchley Rorf London, NWI I OPU, with the ex¢¢ption of Meridian US Investment 2021
Inc. and Meadowo(xJ Hill¢r¢st SIL US Inc., which have their regisl¢red address at 251 Little
FaIls Driv4 Wilmington, New Castle, DE 19808, USA and 2001 Nostrand Ave Investors
Corp.. which has its registered address at 6608 18 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 subsTdiaries which carry on the business of investment holding. The
fjnancial statements of all subsidiary undertakings are made up annually to 30 June.
The market value at 30 June 2024 of investment in subsidiary undertakings 15 based on the
und¢rlying 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 Statements of the subsidiary undertakings for the year ended 30 June 2024
25

FRANKGtvtNC. LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENrs
FOR THE YEAR ENDED 30 JUNE 2024
16.
INVESTMEiYf ENTITIES (Continued)
The aggregate assets, liabilities, capitsl and reserves for the subsidiaries as at 30 June 2024
were as follows=
2￿1
HeysaTtx)r Nostrand Ave Meridian US Meadowood
Investrnellts
Investors
JnvestmctJ¢
Hill¢re# SIL
Litnited
Corp.
2021 Inc.
US ITL¢.
Spiritville
Investments
Limited
Fixed ￿et$
Current assets
Current liabilities
Long trm liabilities
Provisions
7,160.942
3,076,761
(354,394}
2,665,(M)O
2.116,042
(73,5211
(I,003,9621
1511,0001
986.117
l28
1317,208)
(790,760)
276,766
21
180)
1,095,382
375
(79)
(696,000)
N¢t 85sets
9,187J09
3,192,559
{121,7231
276,707
1,095.678
Aggreg8t¢ capita] and reservcs
9,187,309
3.192,559
1121,723}
276,707
1,093,678
A summary of turnover, expenditure and profitl(loss) for the year ended 30 June 2024 is &$
follows:
2001
Spiritville
H¢ysartK>r NostraDd Ave Meridian US Meadowo(NJ
Investments Investsn¢nts
Investors
Investhient Hillcr¢st SIL
Limi¢ed
Limited
Corp.
20211nc.
US In¢.
Turnover
Cost of saics
Administrative expenses
Profitl(loss} on disposa] of inytstment
propety and other investments
Net valuation 8ainsl(loss) on investment
propety
Income from shar¢s in group undertakings
Income from other fixed ass¢t
investments
Interest recelvable and sirnilar iDcome
Interest payabl¢ and similar ¢har8e5
335.584
(76.7481
17.5941
102,719
(173,4741
112,068)
{1.423)
(1,1021
{6041
79,220
4.720
144
1,862
2.768
211,008
{572)
(13,4471
124,366
155,1 l7)
22,0(K>
163,261)
Pmfitllloss) for the fIna￿la1 year
529,313
13290
(64,684)
1,607
1604)
26

FRANKCIVING LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMEprrs
FOR THE YEAR ENDED 30 JUNE 2024
17. DEBTORS
Group
Cbarity
2024
2024
2023
2023
Trnde debtors
Amount due from group
undertakings
Loan debtors
Oth¢r debtors and prepayments
202.813
187,488
122,932
112,704
1,003,962 1,004.320
3.042,155 3,533,227
50,000
i 10,000
575,966
447,478
55,656
105.170
3,820,934 4,168,193 1,232,550 1.332,194
Loan debtors of the group and Gharity include a loan for charitable pw5es of £50,000
{2023: £Nil).
Loan debtors in respect of the group and ¢harity also include amounts due from Companies,
certain directors of which are also trustees or related to the direclors of companies within
this group of £1,926,857 (2023: £2,467,929) and £Nil (2023: £110.000). The loans are
interest bearlng.
Amount due from group undertakings in respect of th¢ charity of £l,003,962 (2023: £Nil) is
du¢ after more than one year.
18.
CREDfroRS: amount5 f211ing due within one year
Group
Charity
2024
2024
2023
2023
Loan creditors
Taxation and social security
Accruals and deferred income
Other Creditors
2,685
1 8,288
194.246
35,286
250,505
2.970
2,575
226.750
54,141
286,436
4,269
139.053
476
2,996
152.933
476
143,798
156.405
27

FRANKGivif4G LIMITED
COMPATqY LIMITED BY GUARANfEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ETrIDED 30 JUNE 2024
19. DEFERRED INCOME
2024
2023
At l July 2023
Amount released to inrome
Amount deferred in year
At 30 June 2024
123,406
23.992
(123,406) (23,992)
129,436
123,406
129,436
123.406
Deferred income arises from r¢nts receiv¢d in advance.
20. PROVISIONS
Deferred tax:
Group
Charity
At l July 2023
Credit for the year
At 30 June 2024
1,229,000
(22,000)
1,207,000
The defe￿¢d account Consists of the tax effect of timing differences in r¢spect of fair value
adjuslment to investsnent property. Therc are no defrrred tax pmvisions for the charity. it As
exempt from tax due to its chartiable status on the basis that all incom¢ and gains are applied
solely for qualifying charitable Purposes.
28

FRANKGIVING LIMITED
COMPANY LITrirrED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMEF4TS
FOR THE YEAR ENDED 30 JUNE 2024
21. ANALYSIS OF CHARITABLE FUIYDS
Ullrestriel¢d Funds
At l July
2023
Gains At 30 June
losses
2024
Group
Income
Expenditure
General fi￿d5
29,311,699 1,458.219 (1,023,652) 1,027,504 30.773,770
AtlJuty
2023
Gains and Al 30 June
losses
2024
Charlty
Ineome
Expenditsre
General funds
29,311.798 1.459,080 {744,703)
747,180 30,773,355
General fvnds of the group at 30 June 2024 include £8.237,286 of unrealised profits which
are not available for distribution.
General funds of the charity at 30 June 2024 include £15,730.334 of unrealised profits which
are not available for distribution.
22.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Group
Charlty
Unrestricted Totsl Funds Unrestrl¢ted Total Funds
Funds
2024
Funds
2024
Investments
Current assets
Creditors less than l year
Creditors greatcr than l year
Provisions
28,101, I78 28,101,178 29,546,913 29,546,913
4,130,097 4,130,097 1,370.240 1,370,240
(250,505) (250,505) (143,798) (143,798)
(1,207.000) (1,207,000)
30,773.770 30,773,770 30,773,355 30,773.355
Net assets
29

FRANKGIVING LIMtTED
COMPANY LIMITED BY GUARANfEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
23. FINANCIAL L¥ISTRUNLENrs
The carrying amount for each category of finan¢ial instrumenl 15 as follows:
Cbarlty
2024
Group
2024
2023
2023
Financial assets measur¢d at fair
value through income and
expenditure
11.901,218 10,243,194 21.626,953 20,232.563
Flnancial assets that ar¢ equity
instruments rneasured at cost less
impairnient
2.003,510 1.939,092 2,003,510 1,939,092
Financial assets that are debt
instruments measured at
amortised cost
4,130,097 4,744,701 1,370,240 1,500.098
Financial liabilities measur¢d at
amortised cost
250,505
286,436
143,798
156,405
24.
OPERATING LEASE COMMITMENTS
As Ic&sor
The total future minimum lease paym¢nts receivable undgr non-cancellable op¢rating l¢&se
are as follows:
Group
Charlty
2024
2024
2023
2023
Not later than l year
Later than l year and not later than
5 years
Later than 5 years
642,909
586.467
379,913
374.283
1.385,921 1.378,037
996,401
880,437
2,457,804 2,130,609 1,303,650
929,659
4,486,634 4,095,113 2,679,964 2,184,379
30

FRANKGIVIIYG LIMITED
COMPANY LIMrrED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR EfwED 30 Ju￿ 2024
25. RELATED PARTY TiiANSAcfioNS
Loan interest receivable includes amounts received from connected partigs and companies
under common control of trustees of this charity of £188,446 (2023: £233,438)
D¢tsils of transactions with other related parties are disclosed in note 17.
26.
ANALYSIS OF CASH AND CASH EQUtVALEiYrs
2024
2023
Cash at bank and in hand
Bank overdrafts
309.163
576,508
309,163
576,508
27. ANALYSIS OF CHANGES IN NET DEBT
At30
Non-cash JUD¢
Movement 2024
At
l July 2023 Cashflows
Cash in hand and at bank
Debt due within one year
576,508
(267.345)
309,163
576,508
(267,345)
309.163
31

FRANKGIVtNG LIMITED
COMPANY LIMITED BY GUARANTEE
MATr4AGEMENf INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024
The followiDg page does not forni part of the slatulory finanelal ststements
Ivblcb are the subject orth¢ illdependenl auditor's report on pages 6 10 10

FRANKGTVTNG LtNllTED
COMPANY LIMITED BY GUARANTEI E
STATEMEI f4T OF FINANCIAL ACTtvtTTES
CORPORATING THE INCOME AND EXPENDITURE ACCOUNT
FOR THE YEI AR EE4DED 30 JUNE 2024
Tllls DOES NOT FORM PART OF THE FINANCIAL STATEMETrrrs
2024
Unrestricted Funds
2023
Unrestricted Funds
lllcome and endowments
Donations and legacies
Investment inGom¢
665,074
794.006
1,459,080
625,225
414,637
1,039,862
Total ineome
Expenditure
Expendithre on rnising ￿lldS:
Investment management costs
Expenditure on charitable activities
Total expenditure
Net (lossygains on investments:
Gainl(Loss) on revaluation of
investment property
(LossyGains on revaluation of
investments
in group undertakings
Gain￿(LOsS) on revaluation of unlisted
investment
Gain on disposal of investment
property
(159,027)
(585,676)
(177,739)
(495,813)
(744,703)
(673,552)
85,700
(5,566)
(185,000)
427,000
817,480
620,823
29,000
747,180
1,461,557
1,042,257
1,408,567
Net iD¢ome 2nd Det movement In funds
Reconellialion of funds:
Total funds brought fO￿ard
Total funds ¢arried forward
29,311,798
30,773,355
27,903,231
29,311,798