2023-03-31-accounts - Mayfair Charities Limited

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non-finanoial measmm. The must siguificantKPls used by t	he Group are as fofiows:
	2023	2022
Grants and donations paid out Net rental income Dividend income Quoted and other invesuuents at fair value Investment property at fair value	63.8 million 11mdhon X0.7million 826.9inillion 848 8 million	f3.2inillion 60.8 million $06million f34.4million f49.9million

FORTHE	YEAR	E ED31 M	ARCH 2023
		2023		2022
		Unrestricted	Funds	Unrestricted	Funds
	Note	0'000	0'000	0'000	0'000
Income and Endowments from: Donations and Grants Received			1,250		1,250
Investments: Income from Fixed Asset Investments			658		634
Interest Receivable and Similar
Charges Rents and Charges Receivable			22 2,238		1 2,131
Other: Property Management Fees Receivable			1,280		1,304
Total Income			5,448		5,320
Expenditure on:
Raising Funds: Property Outgoings Interest Payable and Similar Charges Investment Management Costs		(1,238) (98) (992)		(1,344) (75) (1,009)
Charitable Activities;
Grants and Donations		(3,810)		(3,177)
Direct Charitable Activities Payments from Special Projects Fund		(4) (843)		(5) (1,063)
Other:
Governance Costs		(46)		(54)
Total Expenditure			(7,031)		(6,727)
NKT INCOME / (EXPENDITURE) BEFOREGAINS ON INVESTMENTS			(1,583)		(1,407)
Net Gains / (Losses) on Investments: Gains on Disposal of Investment Property Valuation ofInvestment Property		(1,265)		984 (2,413)
Valuation ofOther
Investments		(7,442)		1/30
			(8,707)		(199)
NET INCOME / (EXPENDITURE) BEFORETAX			(10,290)		(1,606)
Taxation			101		(311)
NET INCOME / (EXPENDITURE)
FORTHE YEAR AND MOVEMENT
IN FUNDS			(10,189)		(1,917)
Reconciliation ofFunds:
Total Funds Brought Forward			88,335		90,252
TOTAL FUNDS CARRIED FORWARD			78,146		88,335
The notes on pages 14to 32form part ofthese	Financial	Statements.

				2023		2022
			Note	f'000	8000	f'000	f'000
FIXEDASSETS Tangible Assets Investments			9 10		1,025 75,764		1,025 84,312
					76,789		85,337
CURRENT ASSETS
Debtors Cash at Bank and in Hand			11	7,812 11,115		11,801 6,637
				18,927		18,438
CREDITORS: Amounts one year	falling due within		12	(14,393)		(12,260)
NET CURRENT ASSETS					4,534		6,178
TOTAL ASSETSLESS LIABILITIES	CURRENT				81,323		91,515
CREDITORS: Amounts at)er more than one year		falling due	13		(1,609)		(1,512)
PROVISIONS			14		(1,568)		(1,668)
TOTAL NET ASSETS					78,146		88,335
UNRESTRICTED FUNDS Designated Funds Other Charitable Funds Non-Charitable Funds			16 16 16		5,953 66,119 6,074		5496 76,751 6,288
TOTALUNRESTRICT	ED	FUNDS			78,146		88,335

			2023		2022
		Note	f'000	f'000	0'000	F000
FIXEDASSETS Tangible Assets Investments		9 10		1,025 74,599		1,025 82,961
				75,624		83,986
CURRENT ASSETS Debtors			4,236		4,316
Cash at Bank and in Hand			962		2,193
			5,198		6,509
CREDITORS: Amounts	falling due within
one year		12	(1,068)		(649)
NET CURRENT ASSETS				4,130		5,860
TOTAL ASSETSLESS	CURRENT
LIABILITIES				79,754		89,846
CREDITORS: Amounts	falling due after
more than one year				(1,609)		(1,512)
TOTAL NET ASSETS				78,145		88,334
UNRESTRICTED FUNDS Designated Funds Other Charitable Funds		16 16		5,953 72,192		5496 83,038
TOTAL UNRESTRICTED FUNDS				78,145		88,334

		2023		2022
		Unrestricted	Funds	Unrestricted	Funds
	Note	0'000	0'000	0'000	mess
Cash Flows from Operating Activities: Net Cash used in Operating Activities	23		3,463		(822)
Cash Flows from Investing Activities
Dividends, Interest and Rents from Investments		1,182		905
Proceeds from Sale ofInvestments				1,074
Purchase ofInvestments		(159)		(1,239)
Net Cash Provided by Investing Activities			1,023		740
Cash Flows from Financing Activities
Interest Paid		(8)		(9)
Net Cash Used in Financing Activities			(8)		(9)
CHANGE IN CASH AND CASH
EQUIVALENTS IN THE YEAR			4,478		(91)
CASH AND CASH EQUIVALENTS AT 1APRIL 2022			6,637		6,728
CHANGE IN CASH AND CASH
EQUIVALENTS DUE TO EXCHANGE
RATE MOVEMENTS
CASH AND CASH EQUIVALENTS AT 31MARCH 2023	24		11,115		6,637

			2023	2022
			4'css	s'000
	Bank Charges and Interest Losses on Foreign Exchange		8 90	9 66
			98	75
3.	GRANTS AND DONATIONS PAYABLE
			2023	2022
			s'000	s'sss
	Grants and Donations Paid Non-monetary Donations	(seeNote 21a—Provision ofFacilities)	3,410 400	2777 400
			3,810	3,177

GRANTS AND DONATIONS	PAYA	PAYA	BLE (cont'd)
The composition ofmonetary	donations		is shown below.	ps00
BCTrust				1,096
Amud Hatzdokoh Trust				580
Chasdei Aharon Ltd				157
Kahal Chassidim Bobov				143
Chevras Mooz Ladol				116
Shaarei Orah Ltd				92
North London Welfare &Educational			Foundation	91
Friends ofMir				70
Mercaz Hatorah Netzach Yisroel				70
Sassov Beis Hamedrash				53
Mifal Hachesed Vehatzedokoh				42
New Rachmistrivke Synagogue The Friends of Yeshivas Brisk		Trust		41 40
Migd Tzedoko V'Chesed				40 32
Slabodka Yeshiva Trust
Chevras Machzikei Mesifta				32
String ofPearls Friends ofBobov				31 26
Three Pillars Trust				25
Rabinow Divrei Shir Kollel				25
Achisomoch Aid Co				24
Gateshead Talmudical College British Friends ofthe Chazon		Ish Institutions		21 21
Other Donations				542
				3,410

		2023	2022
		4'ass	Fess
Auditors'	Remuneration	31	26
Legal and	Professional Fees	15	28
		46	54

NET INCOME BE	FORE TAX
This is stated after	charging:	2023	2022
		6'000	g'000
Auditors' Remuneration:
Audit Fees Other Professional	Services	62	55 2

Majorcomponents	oftax expense
				2023	2022
				F000	6'000
Deferred taxi Origination and reversal oftiming differences				(101)	311
Taxation				(101)	311
All tax is recognised	in the Consolidated	Income and Expenditure	Account.

corporation tax in the UKof19%	(2022: 19%)by reference	to the analysis below.
		2023	2022
		6'000	g'000
Net expenditure before tax		(10/90)	(1,606)
Net expenditure by rate oftax Non taxable income and expenses Timing differences on unrealised Timing difference on gilt aid Impact ofchange in tax rate Other differences	gains	(1,955) 1,920 (24) (42)	(305) 250 (28) (24) 429 (11)
Taxation		(101)	311

INVESTMENTS
		Long
	Freehold	Leasehold	Listed	Other
Group	Properties 0'000	Properties 0'000	Investments 0'000	Investments 0'000	Total g'000
FAIR VALUE At 1 April 2022 Additions	37,448 159	12,483	46	34,335	84,312 159
Disposals
Transfers	34	(34)
Revaluation	(92)	(1,173)		(7,445)	(8,707)
At 31March 2023	37,549	11,276		26,890	75	764

	Freehold	Long Leasehold	Listed	Investments in Subsidiary	Other
Company	Properties 0'000	Properties 0'000	Investments 0'000	Undertakings 0'000	Investments 0'000	Total 0'000
FAIR VALUE At 1April 2022 Additions	37,448 159	4,844		6,288	34,335	82,961 159
Disposals
Transfers Revaluation	34 (92)	(34) (773)		(214)	(7,445)	(8,521)
At 31March 2023	37,549	4,037	49	6,074	26,890	74,599

				Company
				Number
Directl Held Subsidiaries
Freshwater Gladville	Property Limited	Management	Limited	00891786 02454653
Haysgrans Propeity Co.Limited Metropolitan Properties Co.(Overseas) Limited				00662308 00863934
Indirectl	Held Sub	' 'es

he aggregate amoun oBows:	t o	fa	ssets, lia	bilities and f	unds ofthe s	ubsidiary under	takings a	re a
							Capital	&
					Assets	Liabilities	Reserves
					0'000	0'000	0'000
Freshwater Property Management				Limited	17,082	(13,973)	3,109
Gladville Limited
Haysgrans Properly Co. Limited lvletropolitan Properties Co.(Overseas) Limited					7,376 418	(4,829)	2,547 418
summary ofturnover,		expenditure		and profit or loss forthe		year is shown	below for
ach operational subsidiary			undertaking.
Turnover							Metropolitan
				Freshwater			Properties
				Property		Hsysgrsns	Ce.
				Management		Property	(Overseas)
					Limited	Co Limited	Limited
					g'000	g'000	g'000
					1,280	308
Cost ofsales						(164)
Administrative expenses					(976)	(16)
Net valuation gains	on	investment
propelty Interest receivable	and	similar income			20	(400)
Interest payable and similar charges Profit before tax					5 319	(232 (504)
Taxation					20	119
Profit for financial	year				299	385

DEBTORS
		Group 2023	2022	Company 2023	2022
	Note	0'000	0'000	S'000	0'000
Amount owed by subsidiary undertakings	1la			2,903	2,903
Amounts due fiom connected
undertakings Loan debtors (charitable purposes) Rental debtors Other debtors	lib	6,274 641 583 314	10,161 617 543 480	6 641 578 108	17 617 538 241
		7,812	11,801	4,236	4,316

which are interest free and effectively	repayable on dem	and.
	Group 2023	2022	Company 2023	2022
	0'000	f.'000	0'000	0'000
Cherry Orchard Properties Limited		I
Newprop Company Limited LKBInvestments Limited	45	8 50
Bastion Products Limited		15
Freshwater Family Retirement Benefits Scheme	749	439
The Raphael Freshwater
Memorial Association
Limited	2	17		17
Highdom Co.Limited	5,102	8,841
The Bampton Property Group Limited	61	51
Bampton (BdtB) Limited Bampton (Redbridge) Limited	7 11	6 12
Brickiield Properties Limited	69	285
City and Country Properties Limited	148	253
City and Country Properties (Midlands) Limited	24	50
The Halliard Property Co.
Limited	36	112
Other Freshwater Gmup
Companies	20	21
	6,274			17

CREDITORS: AMOUNTS FAL	LING DUE	WITHIN ONE	YEAR
		Group 2023	2022	Company 2023	2022
	Note	f'000	f'000	f'000	f'000
Amounts owed to subsidiary undertakings				325
Amounts owed to connected
undertakings Taxation and social security Rent in advance Other creditors and accruals	12a	13,134 16 259 984	11,167 317 776	163 16 240 324	82 289 278
		14,393	12,260	1,068	649

account, are intere	st free and effecti	vely repayable on d	emand.
		Group		Company
		2023	2022	2023	2022
		f'000	f'000	f'000	f'000
Bastion Products	Limited	1,260	1,260
Highdom Co.Limited		1,123	1,060	163	82
Metropolitan Properties Co
(Cloisters) Limited LKBInvestments Limited		1,066 9,626	893 7,893
Other Freshwater Companies	Group	59	61
		13,134	11,167	163	82

Group	and Company
		2023	2022
		8'000	8'000
Other &editors		1,609	1,512
		1,609	1,512
Amounts	are payable as follows:
In more	than one year but not more than two years		1,512
In more than two years but not more than five years In five years ormore		1,609
		1,609	1,512

Group —Investment	Property	g'000
At 1April 2022		1,668
Movements during the	year	(100)
At 31March 2023		1,568

The total f follows:	on-cancellable operating lease	s are as
	2023	2022
	0'000	0'000
Not later than 1 year Later than 1year and not later than 5 years Later than 5years	816 1,503 481	927 1,691 1,286
	2,800	3,904

UNRESTRICTED INCOM	E FUNDS
			Other	Non
		Designated	Charitable	Charitable
Group		Funds 0'000	Funds 0'000	Funds 0'000	Total Funds 0'000
Balance at 1April 2022 Net income/(expenditure)	for the year	5396 657	76,751 (10,632)	6288 (214)	88,335 (10,189)
Balance at 31March 2023		5,953	66,119	6,074	78,146
				Other
			Designated	Charitable
Company			Funds 0'000	Funds 0'000	Total Funds 0'000
Balance at 1April 2022 Net expenditure for the year			5,296 657	83,038 (10,846)	88,334 (10,189)
Balance at 31March 2023			5,953	72,192	78,145

ANALYSIS	OFNET ASSETSBE	TWEEN FUNDS
			Net Current	Long Term
Group		Fixed Assets K'000	Assets K'000	Liabilities g'000	Total g'000
Unrestricted	Income Funds	76,789	4,534	(3,177)	78,146
Total Funds		76,789	4,534	(3,177)	78,146
			Net Current	Long Term
Company		Fixed Assets g'000	Assets g'000	Liabilities g'000	Total K'000
Unrestricted	Income Funds	75,624	4,130	(1,609)	78,145
Total Funds		75,624	4,130	(1,609)	78,145

			Group		Company
			2023	2022	2023	2022
			s'aso	4'soo	s'000	s'000
Financial	assets measured at fair value
through income and expenditure: Listed and other investments (see Note		10)	26,939	34,381	26,939	34,381
Investment Note 10)	in subsidiary undertakings	(see			6074	6288
Financial assets measured at amortised cost (seeNote 11)			7,812	11,801	4,236	4,316
Financial amortised	liabilities measured at cost (seeNote 12& 13)		16,002	13,772	2,677	2,161

donated to charitable companies, the trustees ofwhich are Tru	stees ofthe Company.
	2023	2022
	4'000	4'ees
Sassov Beis Hamedrash	53	26
Beth Jacob Grammar School for Girls Limited: Donations		1,150
Provision offacilities	400	400

RECONCILIATION OFNET INCOME TO NET CASH USE	D IN OPERATING AC	TIVITIES
	2023	2022
	s'000	s'see
Net expenditure forthe year	(10,189)	(1,917)
Adjustments for: Losses/(gains) on investments Interest paid Dividends, interest and rents trom investments Notional rent received Increase/(decrease) in charitable loan provisions Net charitable loans (advanced)/repaid (Increase)/decrease in debtors Increase/(decrease) in creditors Increase/(decrease) in provisions for liabilities	8,707 98 (1,680) 400 (24) 4,053 2,198 (100)	199 75 (1,422) 400 334 (41) 2,258 (1,018) 310
Net cash used in operating activities	3,463	(822)
ANALYSIS OF CASH AND CASH EQUIVALENTS
	2023	2022
	4'sss	s'oee
Cash atBank and in Hand	11,115	6,637
Total cash and cash equivalents	11,115	6,637

	2023		2022
	f'000	f'000	f'000	f'000
Income and Endowments from: Donations and Grants Received		1,380		1,250
Investments: Income fiom Fixed Asset Investments		658		634
Interest Receivable and Similar Charges Rents and Charges Receivable		234 1,930		298 1,794
Total Income		4/02		3,976
Expenditure on:
Raising Funds: Property Outgoings Interest Payable and Similar Charges	(1,074) (93)		(1,195) (69)
Charitable Activities:
Grants and Donations	(3,810)		(3,177)
Direct Charitable Activities	(4)		(5)
Payments from Special Projects Fund	(843)		(1,063)
Other:
Governance Costs	(46)		(54)
Total Expenditure		(5,870)		(5,563)
NET INCOME / (EXPENDITURE) BEFOREGAINS ON INVESTMENTS		(1,668)		(1,587)
Net Gains / (Losses) on Investments: Gain on sale ofInvestment Property Valuation ofInvestment Property	(865)		984 (1,941)
Valuation ofListed and Other
Investments	(7,656)		617
		(8,521)		(340)
NET INCOME / (EXPENDITURE) FOR THE YEAR AND MOVEMENT IN FUNDS		(10,189)		(1,927)
Reconciliation ofFunds: Total Funds Brought Forward		88,334		90,261
TOTAL FUNDS CARRIED FORWARD		78,145		88,334

	2023		2022
	Unrestricted	Funds	Unrestricted	Funds
	0'000	0'000	0'000	0'000
Rents and Other Charges Receivable		1,930		1,794
Less:Property Outgoings
General snd Water Rates Insurance Repairs and Maintenance Lighting snd Heating Porterage and Cleaning Legal and Professional Charges Service Charges Letting Commission	387 69 282 125 154 29 22 6		225 66 293 113 219 170 18 91
		(1,074)		(1,195)
NET PROPERTY REVENUE		856		599