COMPANY REGISTRATION NUMBER: 1720084 CHARITY REGISTRATION NUMBER: 288978
Anpride Limited Company Limited by Guarantee Unaudited Financial Statements
30 September 2021
HAFFNER HOFF LTD
Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Anpride Limited
Company Limited by Guarantee
Financial Statements
Year ended 30 September 2021
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 6 |
| Statement of financial activities (including income and | |
| expenditure account) | 7 |
| Statement of financial position | 8 |
| Notes to the financial statements | 10 |
Anpride Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30 September 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 September 2021.
Reference and administrative details
Registered charity name Anpride Limited Charity registration number 288978 Company registration number 1720084 Principal office and registered 2nd Floor Parkgates office Bury New Road Prestwich Manchester M25 0TL
The trustees
Mr C Benedikt Mrs G L Benedikt Mr A Geldzahler (Appointed 7 July 2022) Company secretary Mrs G L Benedikt Independent examiner Mr Howard Schwalbe ACA 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
1
Anpride Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 September 2021
Structure, governance and management
Anpride Ltd is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 03 May 1983 as a company and the company number is 01720084. It was registered as a charity on 03 April 1984 with a charity number 288978.
Recruitment and appointment of new trustees would be in line with the Memorandum and Articles of Association and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
There is no chief executive officer. The day to day affairs are undertaken by Mr C Benedikt on behalf of the trustees. All major decisions are taken collectively by the trustees and all the trustees give of their time freely. The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts. The arrangements for setting the pay of the charity’s employees are the sole domain of the trustees.
There are no policies for the induction or training of new trustees.
Risk review
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to manage our exposure to the major risks.
The risks faced by the trust are principally operational risks from ineffective grant making. These risks are managed by the trustees researching potential beneficiaries before granting donations.
Report back and review procedures strengthen these safeguards to ensure public benefit is achieved from all grants.
2
Anpride Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 September 2021
Objectives and activities
The objects of the charity are the relief of poverty amongst the elderly or persons in need, hardship or distress in the Jewish Community; the advancement of the Orthodox Jewish Religion.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.
Grant making policy
The charity is funded by donations and investments. The charity gives out grants in line with the above objects.
There were no grants paid out to individuals during the year.
Grants made during the year to institutions are as detailed in the accounts.
The application of the funds by way of grants to either institutions or individuals and is almost always to institutions.
The trustees consider they have met the public benefit test and outline these achievements below.
The trustees measure the success of achieving the stated aims by the number and value of grants paid out for each object. The grants paid out in the year are detailed in the notes to the accounts and the trustees consider they have met their aims successfully this year.
The trustees consider the shorter term aims to be similar to the longer term aims and assess the achievement of the charity in the same way.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
3
Anpride Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 September 2021
Achievements and performance
The charity received £72,233 in donations and grants during the year as well as £122,244 in investment income.
The charity has governance costs that are professional fees incurred by the charity.
All other office costs are borne by a local benefactor and the trustees wish to record their appreciation to the benefactor for the free use of their offices.
The charity paid out £100,375 by way of grants and support costs that are in line with the objects of the charity. Grants over £5,000 made during the year to institutions are as detailed in the accounts.
The charity incurred costs of £13,516 in respect of investment management costs.
During the year the trustees revalued the investment property, and the resultant uplift of £449,080 is recorded on the face of the SOFA. This represents the fair value of the investment in the opinion of the trustees.
There were no fundraising costs during the year.
Related party transactions in the reporting period are as disclosed in the notes to the accounts.
There was a net income and an overall net movement in funds for the year amounting to £80,586.
4
Anpride Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 September 2021
Financial review
Investment performance
The investments of the charity have provided a gross return of 8% in the year.
The trustees consider this acceptable when compared with returns available on deposits in any of the banking institutions. The investment returns have been consistent for a number of years and are not at the expense of any exposure of loan to value covenants that would put these investments at risk.
Reserves policy
The Unrestricted Fund represents the unrestricted funds arising from past operating results.
The Trustees are satisfied that the balance of the Fund is an acceptable level of reserves given the nature of revenue receipts against grants payable.
In considering the financial obligations of the charity, the trustees have resolved to maintain a minimum reserve, being the current assets of the charity.
The trustees have considered the fair value of the investment property taking into account the loan to value of the properties as well as the nature and exposure of the investment properties. The trustees consider the holding value to be the fair value.
The trustees are delighted to have made many valuable contributions to the community as a result of this income and hope to be able to do so for many years to come.
The trustees feel that the activity reflects the profile and standing within the local community. The impact for future years' expenditure is self evident and the trustees would like to record their appreciation for all the financial support received from benefactors during the course of the year.
The free reserves, represented by the net current assets of the charity stand at £537,218 all of which are unrestricted.
Coronavirus
The charity has not been materially affected by the coronavirus.
The trustees' annual report and the strategic report were approved on 12 July 2022 and signed on behalf of the board of trustees by:
Mr C Benedikt
Trustee
5
Anpride Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Anpride Limited
Year ended 30 September 2021
I report to the trustees on my examination of the financial statements of Anpride Limited ('the charity') for the year ended 30 September 2021.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr Howard Schwalbe ACA
Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
12 July 2022
6
Anpride Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 30 September 2021
| 2021 | 2021 | 2020 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 72,233 | 72,233 | 274,067 |
| Investment income | 6 | 122,244 | 122,244 | 81,120 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 194,477 | 194,477 | 355,187 | |
| ================================ | ================================ | ================================ | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Investment management costs | 7 | 13,516 | 13,516 | 35,883 |
| Expenditure on charitable activities | 8,9 | 100,375 | 100,375 | 99,715 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 113,891 | 113,891 | 135,598 | |
| ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income | 80,586 | 80,586 | 219,589 | |
| ================================ | ================================ | ================================ | ||
| Other recognised gains and losses | ||||
| Gains from revaluation of fixed assets | 449,080 | 449,080 | – | |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net movement in funds | 529,666 | 529,666 | 219,589 | |
| Reconciliation of funds | ||||
| Total funds brought forward | 1,077,253 | 1,077,253 | 857,664 | |
| ----------------------------------------- | ----------------------------------------- | ----------------------------------------- | ||
| Total funds carried forward | 1,606,919 | 1,606,919 | 1,077,253 | |
| ========================================= | ========================================= | ========================================= |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 10 to 19 form part of these financial statements.
7
Anpride Limited
Company Limited by Guarantee
Statement of Financial Position
30 September 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 16 | 1,324 | 1,557 |
| Investments | 17 | 1,500,000 | 1,050,920 |
| ----------------------------------------- | ----------------------------------------- | ||
| 1,501,324 | 1,052,477 | ||
| Current assets | |||
| Debtors | 18 | 123,490 | 108,051 |
| Cash at bank and in hand | 843,871 | 769,402 | |
| -------------------------------- | -------------------------------- | ||
| 967,361 | 877,453 | ||
| Creditors: amounts falling due within one year | 19 | 430,143 | 431,560 |
| -------------------------------- | -------------------------------- | ||
| Net current assets | 537,218 | 445,893 | |
| ----------------------------------------- | ----------------------------------------- | ||
| Total assets less current liabilities | 2,038,542 | 1,498,370 | |
| Creditors: amounts falling due after more than one year | 20 | 431,623 | 421,117 |
| ----------------------------------------- | ----------------------------------------- | ||
| Net assets | 1,606,919 | 1,077,253 | |
| ========================================= | ========================================= | ||
| Funds of the charity | |||
| Unrestricted funds: | |||
| Revaluation reserve | 449,080 | – | |
| Other unrestricted income funds | 1,157,839 | 1,077,253 | |
| ----------------------------------------- | ----------------------------------------- | ||
| Total unrestricted funds | 1,606,919 | 1,077,253 | |
| ----------------------------------------- | ----------------------------------------- | ||
| Total charity funds | 21 | 1,606,919 | 1,077,253 |
| ========================================= | ========================================= |
For the year ending 30 September 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The statement of financial position continues on the following page.
The notes on pages 10 to 19 form part of these financial statements.
8
Anpride Limited
Company Limited by Guarantee
Statement of Financial Position (continued)
30 September 2021
These financial statements were approved by the board of trustees and authorised for issue on 12 July 2022, and are signed on behalf of the board by:
Mr C Benedikt Trustee
The notes on pages 10 to 19 form part of these financial statements.
9
Anpride Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 September 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 2nd Floor Parkgates, Bury New Road, Prestwich, Manchester, M25 0TL.
2. Statement of compliance
These financial statements have been prepared 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 Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
10
Anpride Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are 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 following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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 fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities 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 charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
11
Anpride Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2021
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings - 15% reducing balance
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in income or expenditure.
If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
12
Anpride Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2021
3. Accounting policies (continued)
Impairment of fixed assets (continued)
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in 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 recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment 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 impairment. 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 the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
13
Anpride Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2021
4. Limited by guarantee
Anpride Ltd is a registered charity and a company limited by guarantee and does not have a share capital. In the event of the charity being wound up, members are required to contribute an amount not exceeding £10.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 72,233 | 72,233 | 274,067 | 274,067 |
| ============================ | ============================ | ================================ | ================================ | |
| Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Income from investment properties | 121,294 | 121,294 | 80,686 | 80,686 |
| Bank interest receivable | 950 | 950 | 434 | 434 |
| -------------------------------- | -------------------------------- | ---------------------------- | ---------------------------- | |
| 122,244 | 122,244 | 81,120 | 81,120 | |
| ================================ | ================================ | ============================ | ============================ |
6. Investment income
7. Investment management costs
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Property repairs and maintenance | ||||
| charges | 8,044 | 8,044 | 23,456 | 23,456 |
| Interest on loans | 5,472 | 5,472 | 12,427 | 12,427 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 13,516 | 13,516 | 35,883 | 35,883 | |
| ============================ | ============================ | ============================ | ============================ |
8. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Charitable grants | 96,770 | 96,770 | 94,366 | 94,366 |
| Support costs | 3,605 | 3,605 | 5,349 | 5,349 |
| -------------------------------- | -------------------------------- | ---------------------------- | ---------------------------- | |
| 100,375 | 100,375 | 99,715 | 99,715 | |
| ================================ | ================================ | ============================ | ============================ |
14
Anpride Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2021
9. Expenditure on charitable activities by activity type
| Grant funding | Support | Total funds | Total fund | |
|---|---|---|---|---|
| of activities | costs | 2021 | 2020 | |
| £ | £ | £ | £ | |
| Charitable grants | 96,770 | 1,106 | 97,876 | 96,866 |
| Governance costs | – | 2,499 | 2,499 | 2,849 |
| ---------------------------- | ----------------------- | -------------------------------- | ---------------------------- | |
| 96,770 | 3,605 | 100,375 | 99,715 | |
| ============================ | ======================= | ================================ | ============================ |
10. Analysis of support costs
| Analysis of | ||||
|---|---|---|---|---|
| support costs | Total 2021 | Total 2020 | ||
| £ | £ | £ | ||
| Premises | 234 | 234 | – | |
| General office | 872 | 872 | 2,225 | |
| Governance costs | 2,499 | 2,499 | 2,850 | |
| ----------------------- | ----------------------- | ----------------------- | ||
| 3,605 | 3,605 | 5,075 | ||
| ======================= | ======================= | ======================= | ||
| 11. | Analysis of grants | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Grants to institutions | ||||
| Beis Aharon | – | 11,000 | ||
| British Friends Of Mosdos Tchernobyl | 10,000 | 50,000 | ||
| C M L | – | 14,000 | ||
| CVMD | – | 9,200 | ||
| Grants under £5000 | 48,770 | 10,166 | ||
| Kids Care | 5,000 | – | ||
| Machzikei Lomdei | 5,000 | – | ||
| Sharei Yosher | 5,000 | – | ||
| The Chicken Soup shelter | 5,000 | – | ||
| Yad Shlomo | 13,000 | – | ||
| Zoreya Tzedokos | 5,000 | – | ||
| ---------------------------- | ---------------------------- | |||
| 96,770 | 94,366 | |||
| ---------------------------- | ---------------------------- | |||
| Total grants | 96,770 | 94,366 | ||
| ============================ | ============================ | |||
| 12. | Net income | |||
| Net income is stated after charging/(crediting): | ||||
| 2021 | 2020 | |||
| £ | £ | |||
| Depreciation of tangible fixed assets | 233 | 275 | ||
| ============== | ============== |
15
Anpride Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2021
13. Independent examination fees
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 2,500 | 2,850 |
| ======================= | ======================= |
14. Staff costs
The average head count of employees during the year was Nil (2020: Nil).
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
15. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
16. Tangible fixed assets
| Fixtures and | |
|---|---|
| fittings | |
| £ | |
| Cost | |
| At 1 October 2020 and 30 September 2021 | 8,159 |
| ======================= | |
| Depreciation | |
| At 1 October 2020 | 6,602 |
| Charge for the year | 233 |
| ----------------------- | |
| At 30 September 2021 | 6,835 |
| ======================= | |
| Carrying amount | |
| At 30 September 2021 | 1,324 |
| ======================= | |
| At 30 September 2020 | 1,557 |
| ======================= |
16
Anpride Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2021
17. Investments
| Investment | |
|---|---|
| properties | |
| £ | |
| Cost or valuation | |
| At 1 October 2020 | 1,050,920 |
| Additions | – |
| Fair value movements | 449,080 |
| ----------------------------------------- | |
| At 30 September 2021 | 1,500,000 |
| ========================================= | |
| Impairment | |
| At 1 October 2020 and 30 September 2021 | |
| Carrying amount | |
| At 30 September 2021 | 1,500,000 |
| ========================================= | |
| At 30 September 2020 | 1,050,920 |
| ========================================= |
All investments shown above are held at valuation.
Investment properties
Investment property comprises a single property wholly owned by the charity. The carrying value of the property is stated at fair value in the opinion of the trustees.
18. Debtors
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Other debtors | 123,490 | 108,051 |
| ================================ | ================================ | |
| Creditors: amounts falling due within one year | ||
| 2021 | 2020 | |
| £ | £ | |
| Trade creditors | 20,378 | 20,445 |
| Accruals and deferred income | 20,000 | 21,350 |
| Other creditors | 389,765 | 389,765 |
| -------------------------------- | -------------------------------- | |
| 430,143 | 431,560 | |
| ================================ | ================================ | |
| Creditors: amounts falling due after more than one year | ||
| 2021 | 2020 | |
| £ | £ | |
| Bank loans and overdrafts | 409,687 | 421,117 |
| Social security and other taxes | 21,936 | – |
| -------------------------------- | -------------------------------- | |
| 431,623 | 421,117 | |
| ================================ | ================================ |
19. Creditors: amounts falling due within one year
20. Creditors: amounts falling due after more than one year
17
Anpride Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2021
21. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At 01 | Gains and | At 30 | |||
| Oct 2020 | Income | Expenditure | losses | Sept 2021 | |
| £ | £ | £ | £ | £ | |
| General funds | 1,077,253 | 194,477 | (113,891) | – | 1,157,839 |
| Revaluation reserve | – | – | – | 449,080 | 449,080 |
| ----------------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ----------------------------------------- | |
| 1,077,253 | 194,477 | (113,891) | 449,080 | 1,606,919 | |
| ========================================= | ================================ | ================================ | ================================ | ========================================= | |
| At 01 | Gains and | At 30 | |||
| Oct 2019 | Income | Expenditure | losses | Sept 2020 | |
| £ | £ | £ | £ | £ | |
| General funds | 857,664 | 355,187 | (135,598) | – | 1,077,253 |
| Revaluation reserve | – | – | – | – | – |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------- | ----------------------------------------- | |
| 857,664 | 355,187 | (135,598) | – | 1,077,253 | |
| ================================ | ================================ | ================================ | ============== | ========================================= |
22. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Tangible fixed assets | 1,324 | 1,324 |
| Investments | 1,500,000 | 1,500,000 |
| Current assets | 967,361 | 967,361 |
| Creditors less than 1 year | (430,143) | (430,143) |
| Creditors greater than 1 year | (431,623) | (431,623) |
| ----------------------------------------- | ----------------------------------------- | |
| Net assets | 1,606,919 | 1,606,919 |
| ========================================= | ========================================= | |
| Unrestricted | Total Funds | |
| Funds | 2020 | |
| £ | £ | |
| Tangible fixed assets | 1,557 | 1,557 |
| Investments | 1,050,920 | 1,050,920 |
| Current assets | 877,453 | 877,453 |
| Creditors less than 1 year | (431,560) | (431,560) |
| Creditors greater than 1 year | (421,117) | (421,117) |
| ----------------------------------------- | ----------------------------------------- | |
| Net assets | 1,077,253 | 1,077,253 |
| ========================================= | ========================================= |
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Anpride Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2021
23. Related parties
Mr C Benedikt, director & trustee of the charity is also a director of Forest Road Ltd and Basingview Trust Ltd. During the year these companies donated £40,000 and £100 respectively to the charity.
Mr C Benedikt, also donated £15,000 of personal funds to the charity.
Mr C Benedikt, is also a trustee of Basingview Trust. During the year Anpride Ltd lent Basingview Trust £40,000 on an interest free basis. This is still outstanding at the year end.
24. Taxation
Anpride Limited is a registered charity and therefore is not liable to income or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
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