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Company Limited by Guarantee
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Company Limited by Guarantee
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Financial Statements
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Pages
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Trustees' annual report (incorporating the director's report)
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1 to 2
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Independent examiner's report to the trustees
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3 to 4
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Statement of financial activities (including income and expenditure account)
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5
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Statement of financial position
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6
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Statement of cash flows
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7
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Notes to the financial statements
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8 to 17
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Company Limited by Guarantee
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Trustees' Annual Report (Incorporating the Director's Report)
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Registered charity name
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Charity registration number
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Company registration number
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Principal office and registered
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2nd Floor - Parkgates
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office
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Bury New Road
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Salford
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Manchester
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M25 0TL
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Independent examiner
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2nd Floor - Parkgates
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Bury New Road
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Prestwich
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Manchester
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M25 0TL
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Trustee
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Company Limited by Guarantee
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Independent Examiner's Report to the Trustees of
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Company Limited by Guarantee
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Statement of Financial Activities
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(including income and expenditure account)
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2020
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2019
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Unrestricted funds
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Total funds
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Total funds
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Note
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£
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£
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£
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Donations and legacies
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5
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|
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–
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Investment income
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6
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---------
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---------
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---------
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Total income
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|
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---------
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---------
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---------
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Investment management costs
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7
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(
406,315)
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(
406,315)
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(
218,795)
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Expenditure on charitable activities
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8,9
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(
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(
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(
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------------
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------------
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---------
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|||
Total expenditure
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(
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(
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(
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||
------------
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------------
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---------
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|||
Net losses on investments
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11
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(
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(
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(
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------------
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------------
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------------
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Net expenditure and net movement in funds
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(
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(
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(
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------------
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------------
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------------
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Total funds brought forward
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------------
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------------
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------------
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Total funds carried forward
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------------
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------------
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Company Limited by Guarantee
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Statement of Financial Position
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2020
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2019
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Note
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£
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£
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£
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Investments
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16
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Debtors
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17
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Cash at bank and in hand
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|
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---------
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------------
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|||
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Creditors: amounts falling due within one year
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18
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---------
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------------
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Net current assets
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(
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------------
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------------
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Total assets less current liabilities
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------------
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------------
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Net assets
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------------
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------------
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Unrestricted funds
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|
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------------
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------------
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Total charity funds
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19
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------------
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------------
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Trustee
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Company Limited by Guarantee
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Statement of Cash Flows
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2020
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2019
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£
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£
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Net expenditure
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(2,210,983)
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(885,803)
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Adjustments for:
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Net losses on investments
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521,920
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1,181,583
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Dividends, interest and rents from investments
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(169,830)
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(568,802)
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Other interest receivable and similar income
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(
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(
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Accrued income
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(
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(
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Changes in:
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||
Trade and other debtors
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Trade and other creditors
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(
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------------
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------------
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Cash generated from operations
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(
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(
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Interest received
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|
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---------
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---------
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Net cash used in operating activities
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(
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(
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---------
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---------
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Dividends, interest and rents from investments
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169,830
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568,802
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Purchases of other investments
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(
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(
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Proceeds from sale of other investments
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|
(
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------------
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------------
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Net cash from/(used in) investing activities
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|
(
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------------
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------------
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Proceeds from borrowings
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(
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(
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------------
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------------
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Net cash used in financing activities
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(
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(
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------------
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------------
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Net decrease in cash and cash equivalents
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(
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(
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Cash and cash equivalents at beginning of year
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180,069
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533,227
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---------
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---------
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Cash and cash equivalents at end of year
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(
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---------
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---------
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Company Limited by Guarantee
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Notes to the Financial Statements
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Unrestricted Funds
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Total Funds 2020
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Unrestricted Funds
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Total Funds 2019
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£
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£
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£
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£
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||
Donations
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60,873
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60,873
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–
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–
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--------
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--------
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----
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----
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Unrestricted Funds
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Total Funds 2020
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Unrestricted Funds
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Total Funds 2019
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£
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£
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£
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£
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||
Income from investment properties
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135,948
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135,948
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568,802
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568,802
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Surplus on Joint Property Investments
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33,882
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33,882
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–
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–
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Other interest receivable
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140,500
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140,500
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134,371
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134,371
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---------
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---------
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---------
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---------
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---------
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---------
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---------
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---------
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Unrestricted Funds
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Total Funds 2020
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Unrestricted Funds
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Total Funds 2019
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£
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£
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£
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£
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Council tax
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6,990
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6,990
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15,757
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15,757
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Agents commission
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2,344
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2,344
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15,813
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15,813
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Insurance
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10,959
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10,959
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22,542
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22,542
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Repairs
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520
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520
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60
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60
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Service charge
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–
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–
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26,270
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26,270
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Professional charges
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14,672
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14,672
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12,742
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12,742
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Bank loan interest
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18,497
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18,497
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102,146
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102,146
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Bad debts
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337,651
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337,651
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–
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–
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Water rates
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1,634
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1,634
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2,465
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2,465
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Loan interest
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13,048
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13,048
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21,000
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21,000
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---------
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---------
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---------
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---------
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406,315
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406,315
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218,795
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218,795
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---------
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---------
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---------
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---------
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Unrestricted Funds
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Total Funds 2020
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Unrestricted Funds
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Total Funds 2019
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£
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£
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£
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£
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Charitable activities
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1,646,654
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1,646,654
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182,700
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182,700
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Support costs
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7,297
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7,297
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5,898
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5,898
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------------
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------------
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---------
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---------
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------------
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------------
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---------
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---------
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Grant funding of activities
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Support costs
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Total funds 2020
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Total fund 2019
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£
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£
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£
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£
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||
Charitable activities
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1,646,654
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–
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1,646,654
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182,700
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Governance costs
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–
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7,297
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7,297
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5,898
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|
------------
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-------
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------------
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---------
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------------
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-------
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------------
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---------
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2020
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2019
|
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£
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£
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Grants to institutions
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1,646,654
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182,700
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------------
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---------
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Total grants
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1,646,654
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182,700
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------------
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---------
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2020
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||||
£
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||||
MW (RH) Foundation
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434,021
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MW (HO) Foundation
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304,856
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MW (GK) Foundation
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457,875
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MW (CL) Foundation
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437,002
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|||
Kupas Rashbi
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12,600
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|||
Choimel Dalim
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300
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------------
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Total Grants to Institutions
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1,646,654
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------------
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Unrestricted Funds
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Total Funds 2020
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Unrestricted Funds
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Total Funds 2019
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£
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£
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£
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£
|
||
Gains/(losses) on investment property
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(
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(
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(
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(
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---------
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---------
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------------
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------------
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2020
|
2019
|
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£
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£
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|
Fees payable for the audit of the financial statements
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–
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|
----
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-------
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Other non-audit services
|
|
|
-------
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-------
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2020
|
2019
|
|
£
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£
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|
Independent examination of the financial statements
|
4,000
|
–
|
-------
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----
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2020
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2019
|
|
£
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£
|
|
Investment properties
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Other investments
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Total
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|
£
|
£
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£
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|
Cost or valuation
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|||
At 1 July 2019
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5,419,000
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470,000
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5,889,000
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Additions
|
850,000
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1,033,882
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1,883,882
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Disposals
|
(5,419,000)
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–
|
(5,419,000)
|
------------
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------------
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------------
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At 30 June 2020
|
850,000
|
1,503,882
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2,353,882
|
------------
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------------
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------------
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Impairment
|
|||
At 1 July 2019 and 30 June 2020
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–
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–
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------------
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------------
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Carrying amount
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|||
At 30 June 2020
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850,000
|
1,503,882
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2,353,882
|
------------
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------------
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------------
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At 30 June 2019
|
5,419,000
|
470,000
|
5,889,000
|
------------
|
------------
|
------------
|
|
2020
|
2019
|
|
£
|
£
|
|
Trade debtors
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–
|
|
Prepayments and accrued income
|
–
|
|
Other debtors
|
|
|
---------
|
------------
|
|
|
|
|
---------
|
------------
|
|
2020
|
2019
|
|
£
|
£
|
|
Other debtors
|
|
|
---------
|
------------
|
|
2020
|
2019
|
|
£
|
£
|
|
Bank loans and overdrafts
|
–
|
|
Accruals and deferred income
|
|
|
Social security and other taxes
|
|
|
Other creditors
|
|
|
--------
|
------------
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|
|
|
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--------
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------------
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At 1 July 2019
|
Income
|
Expenditure
|
Gains and losses
|
At 30 June 2020
|
|
£
|
£
|
£
|
£
|
£
|
|
General funds
|
5,398,018
|
371,203
|
(2,060,266)
|
(521,920)
|
3,187,035
|
------------
|
---------
|
------------
|
---------
|
------------
|
|
At 1 July 2018
|
Income
|
Expenditure
|
Gains and losses
|
At 30 June 2019
|
|
£
|
£
|
£
|
£
|
£
|
|
General funds
|
6,283,821
|
703,173
|
(407,393)
|
(1,181,583)
|
5,398,018
|
------------
|
---------
|
---------
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------------
|
------------
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Unrestricted Funds
|
Total Funds 2020
|
||
£
|
£
|
||
Investments
|
2,353,882
|
2,353,882
|
|
Current assets
|
905,302
|
905,302
|
|
Creditors less than 1 year
|
(72,149)
|
(72,149)
|
|
------------
|
------------
|
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Net assets
|
3,187,035
|
3,187,035
|
|
------------
|
------------
|
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Unrestricted Funds
|
Total Funds 2019
|
||
£
|
£
|
||
Investments
|
5,889,000
|
5,889,000
|
|
Current assets
|
2,377,862
|
2,377,862
|
|
Creditors less than 1 year
|
(2,868,844)
|
(2,868,844)
|
|
Creditors greater than 1 year
|
–
|
–
|
|
------------
|
------------
|
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Net assets
|
5,398,018
|
5,398,018
|
|
------------
|
------------
|
||
At 1 Jul 2019
|
Cash flows
|
At 30 Jun 2020
|
|
£
|
£
|
£
|
|
Cash at bank and in hand
|
|
(172,355)
|
|
Debt due within one year
|
(2,605,197)
|
2,605,197
|
–
|
------------
|
------------
|
-------
|
|
(
|
|
|
|
------------
|
------------
|
-------
|
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|
Company Limited by Guarantee
|
Notes to the Financial Statements (continued)
|
2020 | 2019 | ||
£ | £ | ||
Ruislip Assets Ltd | 333,156 | 310,705 | |
Wisewear Unilversal Holdings Ltd | 88,223 | 83,551 | |
Hilary Holdings Ltd | 283,987 | 264,607 | |
MW Properties 2 Ltd | 369,927 | 348,137 | |
Middleton Investments Ltd | 82,377 | 78,270 | |
Waterloo Properties (M/cr) Ltd | 841,587 | 785,476 | |
Carnational Properties Ltd | 14,887 | 14,145 | |
Debmar Investments Ltd (via Barnstring partnership) | 9,259 | 8,797 | |
Leicester Investments Ltd | 81,022 | 8,064 | |
Pinmart Investments Ltd | 3,200 | 3,040 | |
Rainwise Holdings Ltd | 14,280 | 13,317 | |
Sealwear Properties Ltd | 9,839 | 9,176 | |
------------ | ------------ | ||
Total | 2,131,743 | 1,927,286 | |
------------ | ------------ | ||
2020 | 2019 | ||
£ | £ | ||
Debmar Investments Ltd | 397 | 397 | |
Middleton Investments Ltd | 25,100 | 100 | |
2020 | 2019 | ||
£ | £ | ||
Ruislip Assets Ltd | 333,156 | 310,705 | |
Wisewear Unilversal Holdings Ltd | 88,223 | 83,551 | |
Hilary Holdings Ltd | 283,987 | 264,607 | |
MW Properties 2 Ltd | 369,927 | 348,137 | |
Middleton Investments Ltd | 82,377 | 78,270 | |
Waterloo Properties (M/cr) Ltd | 841,587 | 785,476 | |
Carnational Properties Ltd | 14,887 | 14,145 | |
Debmar Investments Ltd (via Barnstring partnership) | 9,259 | 8,797 | |
Leicester Investments Ltd | 81,022 | 8,064 | |
Pinmart Investments Ltd | 3,200 | 3,040 | |
Rainwise Holdings Ltd | 14,280 | 13,317 | |
Sealwear Properties Ltd | 9,839 | 9,176 | |
------------ | ------------ | ||
Total | 2,157,240 | 1,927,783 | |
------------ | ------------ | ||
2020 | 2019 | ||
£ | £ | ||
Debmar Investments Ltd | 397 | 397 | |
Middleton Investments Ltd | 25,100 | 100 | |
2020 | 2019 | ||
£ | £ | ||
Ruislip Assets Ltd | 333,156 | 310,705 | |
Wisewear Unilversal Holdings Ltd | 88,223 | 83,551 | |
Hilary Holdings Ltd | 283,987 | 264,607 | |
MW Properties 2 Ltd | 369,927 | 348,137 | |
Middleton Investments Ltd | 82,377 | 78,270 | |
Waterloo Properties (M/cr) Ltd | 841,587 | 785,476 | |
Carnational Properties Ltd | 14,887 | 14,145 | |
Debmar Investments Ltd (via Barnstring partnership) | 9,259 | 8,797 | |
Leicester Investments Ltd | 81,022 | 8,064 | |
Pinmart Investments Ltd | 3,200 | 3,040 | |
Rainwise Holdings Ltd | 14,280 | 13,317 | |
Sealwear Properties Ltd | 9,839 | 9,176 | |
------------ | ------------ | ||
Total | 2,157,240 | 1,927,783 | |
------------ | ------------ | ||
2020 | 2019 | ||
£ | £ | ||
Debmar Investments Ltd | 397 | 397 | |
Middleton Investments Ltd | 25,100 | 100 | |