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|Governors|Governors||Mr P Jay||
|---|---|---|---|---|
||||Mr D Jay||
||||Mrl SJay||
|Charity|number||290568||
|Company||number|01835501||
|Principal|address||Foframe House, 2nd Floor||
||||35-37Brent Street||
||||London||
||||NW4 2EF||
|Registered||office|Foframe House, 2nd Floor||
||||35-37Brent Street||
||||London||
||||NW4 2EF||
|Auditor|||Lopian Gross Barnett &Co||
||||1st Floor Cloister House||
||||Riverside,|New Bailey Street|
||||Manchester||
||||M3 5FS||
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||||Page|
|---|---|---|---|
|Governors'|report||1-3|
|Statement|of governors'
responsibilities|||
|Independent|auditor's|report|5-7|
|Statement|offinancial|activities||
|Balance sheet|||9-10|
|Statement|ofcash flows|||
|Notes to the financial||statements|12-19|
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|||||Notes|2022f|2021
f|
|---|---|---|---|---|---|---|
|Income from:|||||||
|Investments|||||439,321|434,462|
|~EII|||||||
|Charitable
activities|||||186,000|2,591,075|
|Other|||||169,633|178,509|
|Total resources expended|||||355,633|2,769,584|
|Net incoming/(outgoing)|||resources||83,688|(2,335,122)|
|Other recognised|gains and losses||||||
|Revaluation
of property||investments||||1,200,000|
|Net movement
in|funds||||83,688|(1,135,122)|
|Fund balances at 1|January||2022||3,115213|4 250335|
|Fund balances at|31 December 2022||||3,198,901|3,115,213|
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|||||||2022||2021||
|---|---|---|---|---|---|---|---|---|---|
||||||Notes|f||f||
|Fixed assets||||||||||
|Investment|properties||||9||5,900,000||5,900,000|
|Investments|||||10||1||1|
||||||||5,900,001||5,900,001|
|Current assets||||||||||
|Debtors||||||63,312||89,991||
|Cash at bank and||in|hand|||||62,873||
|||||||63,312||152,864||
|Creditors:|amounts||falling|due within||||||
|one year|||||13|(832,826)||(660,784)||
|Net current|kabilities||||||(769,514)||(507,920)|
|Total assets less||current||liabilities|||5,130,487||5,392,081|
|Creditors:|amounts||falling|due after||||||
|more than|one year||||14||(1,931,586)||(2,276,868)|
|Net assets|||||||3,198,901||3,115,213|
|Income funds||||||||||
|~U||||||||||
|General unrestricted|||funds|||1,474,751||1,391,063||
|Revaluabon|reserve|||||1,724,150||1,724,150||
||||||||3,198,901||3,115,213|
||||||||3,198,901||3,115,213|
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|||||2022||2021||
|---|---|---|---|---|---|---|---|
||||Notes|f||8||
|Cash flows from operating||activities||||||
|Cash (absorbed
by)/generated||from|17|||||
|operations|||||(29,560)||156,554|
|Investing
activities||||||||
|Rental income received||||439,321||434,462||
|Net cash generated
from|investing|||||||
|activities|||||439,321||434,462|
|Financing
activities||||||||
|Repayment
of bank loans||||(445,537)||(636,380)||
|Net cash used in financing||activities|||(445,537)||(636,380)|
|Net decrease
in cash and|cash equivalents||||(35,776)||(45,364)|
|Cash and cash equivalents|at beginning||ofyear||35,709||81,073|
|Cash and cash equivalents||at end of|year||(67)||35,709|
|Relating to:||||||||
|Cash at bank and
in hand|||||||62,873|
|Bank overdraRs
included
in|creditors|||||||
|payable
within one year|||||(67)||(27, 164)|
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|3|Investments|||
|---|---|---|---|
|||2022|2021|
|||6|f|
||Rental income|439,321|434,482|
|4|Grants payable|||
|||Charitable|Charitable|
|||activities|activities|
|||2022|2021|
|||6|f|
||Grants to institutions:|||
||Other|186,000|2,591,075|
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|2022|2021|
|---|---|
|Number|Number|
|Total|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|There|were|no|employees|whose|annual|remuneration|was|more|than|660,000.|
||||2022|2021|
|---|---|---|---|---|
|Auditors'|remuneration||4,200|3,600|
|Auditors'|fees for non-audit|work|2,100|1,800|
|Interest|on bank loans and|finance costs|162,614|110,897|
|Other expenditure|||719|62,212|
||||169,633|178,509|
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|Cost or valuation|
|---|
|At 1 January 2022 &31 December 2022|
|Carrying
amount|
|At 31 December 2022|
|At 31 December 2021|
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|Debtors||||||
|---|---|---|---|---|---|
|||||2022|2021|
|Amounts|falling due within||one year:|E|E|
|Amounts|owed by subsidiary||undertakings|1,177|1,177|
|Other debtors||||13,992|40,671|
|Prepayments||and accrued income||48,143|48,143|
|||||63,312|99,991|
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|12|Loans and overdrafts|Loans and overdrafts|Loans and overdrafts|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||2022|2021|
|||||||||||6|6|
||Bank overdrafts|||||||||67|27,164|
||Bank loans|||||||||1,966,586|2,412,123|
|||||||||||1,966,653|2,439,287|
||Payable|within
one|year|||||||35,067|162,419|
||Payable|after one year||||||||1,931,586|2,276,868|
||Amounts|included
above which||||fall due aker||five years:||||
||Payable|by instalments||||||||26,250||
||Payable|other than|by|instalments||||||1,765,336||
|||||||||||1,791,586||
||The long-term
loans||are secured||||on property|investments.||||
|13|Creditors: amounts||falling||due||within one|year||||
|||||||||||2022|2021|
||||||||||Notes|6|F|
||Bank loans and overdrafts||||||||12|35,067|162,419|
||Amounts|owed to subsidiary|||undertakings|||||1,442|1,442|
||Other creditors|||||||||781,967|456,082|
||Accruals|and deferred||income||||||14,350|40,841|
|||||||||||832,826|660,784|
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|Credi|tors: amounts
falling due after|more than one year|||
|---|---|---|---|---|
||||2022|2021|
|||Notes|6|6|
|Bank|loans|12|1,931,586|2,276,868|
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||||Amounts|owed|to|related|
|---|---|---|---|---|---|---|
|||||parties|||
|||||2022||2021|
|||||E||E|
|Other|related|parties|781,967|||456,082|
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|Details of|the company's|the company's|su|bsidiaries
at 31|bsidiaries
at 31|December 2022 are as follow|s:|s:||
|---|---|---|---|---|---|---|---|---|---|
|Name of|undertaking|||Registered||Nature of business|Class of||'/, Held|
|||||office|||shares|held|Direct Indirect|
|Ashlands|Limited|||England|and|Dormant|Ordinary||100|
|||||Wales||||||
|Southern|Cross Propco||1|England|and|Dormant|Ordinary||100|
|Limited||||Wales||||||
|St Oswalds
House||Limited||England|and|Dormant|Ordinary||100|
|||||Wales||||||
|Name of|undertaking||Profit/(Loss)|Capital and|
|---|---|---|---|---|
|||||Reserves|
|||||6|
|Ashlands|Limited|||1,002|
|Southern|Cross Propco|1|||
|Limited||||8,986|
|St Oswalds
House Limited||||277,100|
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|17|Cash generated
from|operations|operations|operations||||2022f|2021|
|---|---|---|---|---|---|---|---|---|---|
||Surplus/(deficit)
for the|year||||||83,688|(2,335,122)|
||Adjustments
for:|||||||||
||Investment
income recognised||in|statement|offinanmal|activities||(439,321)|(434,462)|
||(Gain)/loss
on disposal|oftangible||fixed assets|||||2,940,000|
||Movements
in working|capital:||||||||
||Decrease/(increase)
in|debtors||||||26,679|(5,073)|
||Increase/(decrease)
in|creditors||||||299,394|(8,789)|
||Cash (absorbed
by)/generated|||from operations||||(29,560)|156,554|
|18|Analysis of changes|in net (debt)/funds||||||||
||||||||At 1 January|Cash flows|At 31 December|
||||||||2022||2022|
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||Cash at bank and
in hand||||||62,873|(62,873)||
||Bank overdrafts||||||(27,164)|27,097|(67)|
||||||||35,709|(35,776)|(67)|
||Loans falling due within|one year|||||(135,255)|100,255|(35,000)|
||Loans falling due after|more than||one year|||(2,276,868)|345,282|(1,931,586)|
||||||||(2,376,414)|409,76'I|(1,966,653)|