2023-09-30-accounts - The Fitzrovia Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

		PAGE
Legal and administrative	information
Report ofthe Council		4-8
independent examiner's	report
Statement of Financial	Activities	10
Balance sheet		11-12
Notes to the financial statements		13-18
Appendix 1		19

Company number	01950030(England	01950030(England	8 Wales)
Charity number	296025
Registered office	Fitzrovia 2 Foley	Community Street,	Centre,
	London	W1W 6DN
Council Members
Susan Blundell	...Chairperson
John Mortimer.	. Honorary	Treasurer
Nicholas Bailey.	...Member
Barbara Corr. .	.....Member
Gwilym Harbottle.	...Member
Ali Yadzi.	...Member

INCOME AND EXPENDiTURE
	2023	2022
Incoming resources		R
Rents Receivable	227,472	173,Q97
Insurance recovered	3,806	3,4Q6
Playground grant and use	6,000	3,440
Donations
	237/79	179,942
Interest Receivable	2032	899
Total Incoming resources	239311	180841
Resources Expended
Direct Charitable activities	142,276	129,480
Management 8 Admin Expenses	20,583	20,564
Total Resources Expended	162859	150044
Net Movement In Funds	T6,452	30,797
Total Funds Brought Forward	7,804,829	7,T74,032
Total funds carried forward	7881 81	7804829

	Notes	2023	2022
Fixed assets
Tangible fixed assets	9	7,613,938	6,935,866
New Lease- 54Warren St-Four flats 54Warren StFlats- Redevelopment	9 9	256,708	642,000 45,371
Investment	10	2	2
Total Tangible fixed assets		7,870,648	7,623/39
Current Assets
Debtors and Prepayments		11,858	29,949
Short term deposits		71,751	46,668
Cash and bank		114157	322104
		197,766	398,721
Current Liabilities: Creditors:
Amounts falling due within one year	12	(134,641 )	(120,421 )
Net current assets		63125	278300
		7,933,773	7,901,539
Current Liabilities: Creditors:
Amounts falling due after more than
one year		(52,492 )	(96,710)
Total assets less current liabilities		7881 81	7804829
Funds Financed by:
Restricted funds
Unrestricted general funds	15	7,881,281	7,804,829
Total funds		7881 81	7804829

The	average	monthly	number	ofCouncil	members	during	the	year was
								2023	2022
								6	6

9.Tangible Fixed Assets
		Leasehold	Freehold	Total
		Property	land and
		(short)	buildings
		2023	2023	2023
			R
Costorvaluation
1 October2022		184,660	7,576,739	7,761,399
Additions:
54Warren StFlats-Redevelopment			256,708	256,708
30September 2023		184660	7833447	8018107
Depreciafion
1 October 2022		138,162		13&,162
Charge forthe year		9,299		9/99
30September 2023		147461		147 46'I
Net book value
30September 2023		37199	7833447	7 870646
30September 2022		46498	7576739	7623237
The comparable amounts ofAxed assets	included above atvaluation		determined
according tothe historical cost accounting	convention	rules are as follows:
Cost
1 October 2022		184)660	2,150,589	2,335/49
Additions:
54Warren StFlats-Redevelopment			256,708	256,708
30September 2023		184660	2407 97	2591957
Oepreciation
1 October2022		138,162		138,162
Charge forthe year		9,299		9@99
30September 2023		147 1		147461
Net book value
30September 2023		37199	2407297	2444496
30September 2022		46498	2 150589	2 197087

10 Fixed Assets	10 Fixed Assets	investments	investments
				2023	2022
				R	R
Shares in Polepoise Limited- Awholly owned subsidiary				2	2
11.Debtors: Amounts			falling due within one year
				2023	2022
				R	R
Trade Debtors				2,058	4,472
Prepayments	and	accrued income		9800	25476
				11858	29949
12.Creditors:	Amounts		falling due within one year
				2023	2022
				R	R
Mortgage and	Bank loan		repayments	50,645	49,168
Rent deposits	held			71,751	46,668
Accruals and	creditors			10,145	21,760
Accountancy fee				2,100	2,825
				134641	120421
13.Creditors:	Amounts		falling due after more than one year
				2023	2022
				R	R
Bank loan - Unity		Trust Bank		52,492	96,710
				52492	96710
14.Secured Debts
				2023	2022
				R	R
Bank loan - Unity		Trust Bank		103,138	145,879
				103 138	145879
The Unity Trust Bank hold a5rst and second legal charge over the properties.
16.Unrestricted		General Fund
				2023	2022
				R	R
1 October2022				7,804,829	7,774,032
Net Movement	in	Funds		76,452	30,797
30September	2023			7881281	7804829

FOR THE YEAR ENDED 30SEPTEM	BER2023
	2023	2023	2023	2023	2022
	General	FCC	Warren St	Total	Total
	Fund			Funds	Funds
Incoming Resources					8
Rents receivable		30,000	197,472	227,472	173,097
Insurance recovered		0	3,806	3,806	3,406
Playground grant and use		6,000		6,000	3,440
Donation
Interest Receivable	2032			2032	899
	2032	36000	201 79	239311	180841
RESOURCES EXPENDED
Administration fees	40,884			40,884	38,620
Rent, meeting room 8 mail address	5,084			5,084	3,935
Travelling expenses	3,949			3,949	3,303
Postage, printing and stationery	526			526	179
Telephone	648			648	600
General expenses	568			568	1,269
Accountancy	2,100			2,100	2,825
Legal and proffees		0	8,268	8,268	14,147
Rent		15,500		15,500	15,500
Council tax/ Business rates			5,884	5,884
Insurance			12,250	12,250	6,861
Advertising	720			720	500
IT&Website	467			467	1,107
Light and heat			2,282	2,282	1,363
Maintenance and furnishings		18,194	5,737	23,931	4,842
Refurbishment costs			6,594	6,594	26,409
Caretaker		14,234		14,234	13,077
Subscriptions/ AIliations	528			528	706
Bank charges	157			157	139
Depreciation		9,299		9,299	9,299
Bad Debts provision
	66,630	57~7	41,014	153,872	144,681
Interest payable (35%&65%)		3,145	5,841	8,987	5,363
Total expenditure	55 630	60373	46856	162859	160044
Net income (expenditure)	63698	24373	154423	76452	30797

Warren	Years of	Property Type	Start of	2023	2022
Street	Lease		Lease
52	10	Commercial	April 2016	756,284	756,284
	1	Residential	December 2015	2274750	2274 750
				3,031,034	3,031,034
54	10	Commercial	September 2014	815,556	815,556
	65 65 65	Residential Work in Progress Redevelopment	February2022 February2022 September2023	642,000 45,371 256,708	642,000 45,371
	65	Residential	December 1987	465569	465569
				2,225,204	1,968,496
	10	Commercial	July 2023	688,889	688,889
	65	Residential	September 1987	386195	386195
				1,075,084	1,075,084
59	125	Commercial	September 1987	10,125	10,125
	65	Residential	September 1987	374898	374898
				385,023	385,023
60-61	10	Commercial	March 2022	1,112,796	1,112,796
	175	Residential	September 1987	4306	4 306
				1,117,102	1,117,102
				7833447	7576739