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REGISTERED COMPANY NUMBER: 01864330 (England and Wales)
REGISTERED CHARITY NUMBER: 292305



















NEXTGRANT LIMITED
(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

NEXTGRANT LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Reference and Administrative Details 1

Report of the Trustees 2 to 4

Report of the Independent Auditors 5 to 7

Statement of Financial Activities 8

Balance Sheet 9

Cash Flow Statement 10

Notes to the Cash Flow Statement 11

Notes to the Financial Statements 12 to 20

NEXTGRANT LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 30 JUNE 2023



TRUSTEES Jacob Frankel
M Freund
O Low
C L Klein


COMPANY SECRETARY Jacob Frankel


REGISTERED OFFICE First Floor
94 Stamford Hill
London
N16 6XS


REGISTERED COMPANY
NUMBER
01864330 (England and Wales)


REGISTERED CHARITY
NUMBER
292305


AUDITORS Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS

NEXTGRANT LIMITED (REGISTERED NUMBER: 01864330)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2023


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).

REFERENCE AND ADMINISTRATIVE INFORMATION
The information is shown on page 1 of the financial statements and forms part of this report.

OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity are the advancement of religion in accordance with the orthodox Jewish faith and the relief of poverty. The charity makes grants and has purchased properties which are used for charitable purposes details of which are:-

School
No rent is charged but the school is responsible for all expenditure. The tenancy is otherwise unrestricted.

Synagogues
No rent is charged and all expenses are the responsibility of the synagogues. The charity owns a number of garages adjacent to one synagogue which is used by the attendees.

Cemetery
The charity owns a plot of land which is being used as a cemetery.

The trustees have considered the Charity Commission's general guidance on public benefit.

Grantmaking
In general the trustees select the institutions to be supported according to their personal knowledge of work of the institution. Whilst not actively inviting applications, they are always prepared to accept any application which will be carefully considered and help given according to circumstances and funds then available. Applications by individuals must be accompanied by a letter of recommendation by the applicant's minister or other known religious leader.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity is reliant on income both voluntary and from companies connected with the trustees. During the year under review the charity made improvements to the synagogue, to include more seating and other facilities. New study books were purchased for the library. The charity also continued its philanthropic activities.

FINANCIAL REVIEW
Financial position
There was a reduction in income during the year and the trustees increased grantmaking, resulting in a surplus for the year. The trustees continued with the building of the library. The charity's subsidiary made a loss for the year.

Reserves policy
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities
of the charity. At the year end unrestricted reserves were £6,887,354 (2022- £6,248,991) and restricted reserves £Nil (2022- £Nil).

FUTURE PLANS
The charity plans to continue its activities for the foreseeable future subject to satisfactory income.


NEXTGRANT LIMITED (REGISTERED NUMBER: 01864330)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT
Charity constitution
The charity is constituted a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 16 November 1984.

Organisational structure
The power to appoint new trustees is vested in the board. New trustees are appointed based on personal competence, specialist skills and experience They are inducted into the working of the charity by the current board and are given, in the view of the board, sufficient training to understand the nature of the charity and its working. They are also encouraged to read the Charity Commission's various publications on trustees.The charity is run by trustees who are involved in the local Jewish community and are familiar with the charities using the properties.

Related parties
The charity has a wholly owned non-charitable subsidiary, Nextgrant Tottenham Limited, a property investment company. M Freund is also a director of Nextgrant Tottenham Limited. Related party transactions are shown in note 21 to the financial statements.

Risk management
The trustees meet regularly to review and identify any risks. Systems have been put in place to deal with such matters.

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Nextgrant Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-select suitable accounting policies and then apply them consistently;
-observe the methods and principles in the Charity SORP;
-make judgements and estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

-there is no relevant audit information of which the charitable company's auditors are unaware; and
-the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS
The auditors, Sugarwhite Meyer Accountants Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.


NEXTGRANT LIMITED (REGISTERED NUMBER: 01864330)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2023

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 16 April 2024 and signed on its behalf by:





C L Klein - Trustee

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NEXTGRANT LIMITED

Opinion
We have audited the financial statements of Nextgrant Limited (the 'charitable company') for the year ended 30 June 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:
-give a true and fair view of the state of the charitable company's affairs as at 30 June 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NEXTGRANT LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NEXTGRANT LIMITED


Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In performing an audit, we exercise professional judgment and maintain professional scepticism throughout the audit.

We also identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. The risk of not detecting a material misstatement resulting from fraud is higher than one for one resulting from error, as fraud may involve collusion, forgery, intentional omissions misrepresentation or override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of charity's internal control.

Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about charity's ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.




E Meyer FCA BSc (Senior Statutory Auditor)
for and on behalf of Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS

16 April 2024

NEXTGRANT LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30 JUNE 2023

2023 2022
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 663,192 - 663,192 808,519

Other trading activities 2 2,747 - 2,747 1,223
Investment income 3 15,000 - 15,000 15,000
Total 680,939 - 680,939 824,742

EXPENDITURE ON
Raising funds 4 91,541 - 91,541 12,805

Charitable activities 5
Charititable activities 561,561 - 561,561 317,271
Total 653,102 - 653,102 330,076

NET INCOME 27,837 - 27,837 494,666
Other recognised gains/(losses)
Gains on revaluation of fixed assets 610,526 - 610,526 -
Net movement in funds 638,363 - 638,363 494,666

RECONCILIATION OF FUNDS
Total funds brought forward 6,248,991 - 6,248,991 5,754,325

TOTAL FUNDS CARRIED FORWARD 6,887,354 - 6,887,354 6,248,991

NEXTGRANT LIMITED (REGISTERED NUMBER: 01864330)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 11 5,570,434 4,861,032
Investments
Investments 12 340,100 340,100
Investment property 13 1,498,241 1,498,241
7,408,775 6,699,373

CURRENT ASSETS
Debtors 14 166,625 169,245
Cash at bank 1,167 2,877
167,792 172,122

CREDITORS
Amounts falling due within one year 15 (139,673 ) (58,964 )

NET CURRENT ASSETS 28,119 113,158

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,436,894

6,812,531

CREDITORS
Amounts falling due after more than one year 16 (549,540 ) (563,540 )

NET ASSETS 6,887,354 6,248,991
FUNDS 20
Unrestricted funds:
General fund 6,887,354 6,248,991
TOTAL FUNDS 6,887,354 6,248,991

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 16 April 2024 and were signed on its behalf by:





C L Klein - Trustee

NEXTGRANT LIMITED

CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2023

2023 2022
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 114,376 506,776
Interest paid (28,791 ) (12,805 )
Net cash provided by operating activities 85,585 493,971

Cash flows from investing activities
Purchase of tangible fixed assets (102,145 ) (494,520 )
Net cash used in investing activities (102,145 ) (494,520 )

Cash flows from financing activities
New loans in year (1,080 ) (3,000 )
Loan repayments in year (14,000 ) (7,000 )
Net cash used in financing activities (15,080 ) (10,000 )

Change in cash and cash equivalents
in the reporting period

(31,640

)

(10,549

)
Cash and cash equivalents at the
beginning of the reporting period

2

(36,387

)

(25,838

)
Cash and cash equivalents at the end
of the reporting period

2

(68,027

)

(36,387

)

NEXTGRANT LIMITED

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2023

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2023 2022
£    £   
Net income for the reporting period (as per the Statement of
Financial Activities)

27,837

494,666
Adjustments for:
Depreciation charges 3,269 3,664
Interest paid 28,791 12,805
Decrease in debtors 3,700 500
Increase/(decrease) in creditors 50,779 (4,859 )
Net cash provided by operations 114,376 506,776

2. ANALYSIS OF CASH AND CASH EQUIVALENTS
2023 2022
£    £   
Notice deposits (less than 3 months) 1,167 2,877
Overdrafts included in bank loans and overdrafts falling due within one
year

(69,194

)

(39,264

)
Total cash and cash equivalents (68,027 ) (36,387 )



3. ANALYSIS OF CHANGES IN NET DEBT

At 1.7.22 Cash flow At 30.6.23
£    £    £   
Net cash
Cash at bank 2,877 (1,710 ) 1,167
Bank overdrafts (39,264 ) (29,930 ) (69,194 )
(36,387 ) (31,640 ) (68,027 )

Debt
Debts falling due within 1 year (14,000 ) - (14,000 )
Debts falling due after 1 year (563,540 ) 14,000 (549,540 )
(577,540 ) 14,000 (563,540 )
Total (613,927 ) (17,640 ) (631,567 )

NEXTGRANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. The estimates and underlying assumptions are reviewed on an ongoing basis.

The valuation of investment properties is inherently subjective, depending on many factors, including the individual nature of each property, its location and expected future net rental values, market yields and comparable market transactions. Therefore, the valuations are subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.

Raising funds comprise investment management costs relating to the investment properties.

Support costs are those incurred to assist the work of the charity but are not direct charitable activities.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Freehold property - not provided
Long leasehold - not provided
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance and 10% on reducing balance
Library - not provided

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

Financial instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

NEXTGRANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

1. ACCOUNTING POLICIES - continued

Financial instruments
Current assets and current liabilities are subsequently measured at the amount expected to be received or paid and not discounted.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Going concern
There are no material uncertainties about the charity's ability to continue.

2. OTHER TRADING ACTIVITIES
2023 2022
Unrestricted Restricted Total Total
funds funds funds funds
£    £    £    £   
Other income 2,747 - 2,747 1,223

3. INVESTMENT INCOME
2023 2022
Unrestricted Restricted Total Total
funds funds funds funds
£    £    £    £   
Other investment income 15,000 - 15,000 15,000

4. RAISING FUNDS

Raising donations and legacies
2023 2022
Unrestricted Restricted Total Total
funds funds funds funds
£    £    £    £   
Functions expenses 8,793 - 8,793 -


Investment management costs
2023 2022
Unrestricted Restricted Total Total
funds funds funds funds
£    £    £    £   
Rates 14,241 - 14,241 -
Property repairs 39,716 - 39,716 -
Interest payable and similar charges 28,791 - 28,791 12,805
82,748 - 82,748 12,805

Aggregate amounts 91,541 - 91,541 12,805

NEXTGRANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
Direct (see note costs (see
Costs 6) note 7) Totals
£    £    £    £   
Charititable activities 62,099 490,023 9,439 561,561

6. GRANTS PAYABLE
2023 2022
£    £   
Charititable activities 490,023 251,571
The total grants paid to institutions during the year was as follows:
2023 2022
£    £   
Advancement of religion 304,913 225,275
Relief of poverty 156,440 21,096
Advancement of education - 5,200
Social Welfare 26,550 -
487,903 251,571

Congregation Yetev Lev 294,913
Chasdei Aharon 91,400
Revach Vehazola Trust 60,600
Shir Chesed 26,550
Reb Shayale's Tzeduke 10,000
Others under £7,500 4,440
487,903

The total grants paid to individuals during the year was as follows:
2023 2022
£    £   
Social Welfare 2,120 -


NEXTGRANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. SUPPORT COSTS
Governance
Finance costs Totals
£    £    £   
Charititable activities 2,448 6,991 9,439

Support costs, included in the above, are as follows:

Finance
2023 2022
Charititable Total
activities activities
£    £   
Bank charges 2,448 2,752
Governance costs
2023 2022
Charititable Total
activities activities
£    £   
Auditors' remuneration 3,000 2,700
Auditors' remuneration for non audit
work

3,480

3,000

General expenses 511 865
6,991 6,565

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£    £   
Auditors' remuneration 3,000 2,700
Auditors' remuneration for non audit work 3,480 3,000
Depreciation - owned assets 3,269 3,664

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022.



NEXTGRANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

10. AVERAGE STAFF NUMBERS

The average number of staff in the year was Nil (2022 - Nil)

11. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST OR VALUATION
At 1 July 2022 4,456,222 43,000 191,364
Additions 44,188 - -
Revaluations 610,526 - -
At 30 June 2023 5,110,936 43,000 191,364
DEPRECIATION
At 1 July 2022 - - 160,350
Charge for year - - 3,269
At 30 June 2023 - - 163,619
NET BOOK VALUE
At 30 June 2023 5,110,936 43,000 27,745
At 30 June 2022 4,456,222 43,000 31,014

Fixtures
and
fittings Library Totals
£    £    £   
COST OR VALUATION
At 1 July 2022 106,978 330,796 5,128,360
Additions - 57,957 102,145
Revaluations - - 610,526
At 30 June 2023 106,978 388,753 5,841,031
DEPRECIATION
At 1 July 2022 106,978 - 267,328
Charge for year - - 3,269
At 30 June 2023 106,978 - 270,597
NET BOOK VALUE
At 30 June 2023 - 388,753 5,570,434
At 30 June 2022 - 330,796 4,861,032




NEXTGRANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

12. FIXED ASSET INVESTMENTS
Shares in
group Unlisted
undertakings investments Totals
£    £    £   
MARKET VALUE
At 1 July 2022 and 30 June 2023 100 340,000 340,100
NET BOOK VALUE
At 30 June 2023 100 340,000 340,100
At 30 June 2022 100 340,000 340,100

There were no investment assets outside the UK.


The company's investments at the balance sheet date in the share capital of companies include the following:

Nextgrant Tottenham Limited
Registered office: First Floor 94 Stamford Hill London N16 6XS
Nature of business: Property investments
%
Class of share: holding
Ordinary 100
30.6.23 30.6.22
£    £   
Aggregate capital and reserves (11,392 ) (590 )
Loss for the year (10,802 ) (137 )

13. INVESTMENT PROPERTY
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 1,498,241
NET BOOK VALUE
At 30 June 2023 1,498,241
At 30 June 2022 1,498,241

The investments property was valued by the trustees taking into account a property of this nature in the same or similar location.

.


NEXTGRANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 164,825 163,745
Prepayments and accrued income 1,800 5,500
166,625 169,245

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 17) 83,194 53,264
Other creditors 50,000 -
Accruals and deferred income 6,479 5,700
139,673 58,964

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 17) 549,540 563,540

17. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year on demand:
Bank overdrafts 69,194 39,264
Bank loans 14,000 14,000
83,194 53,264
Amounts falling due between two and five years:
Bank loans - 2-5 years 346,000 346,000
Amounts falling due in more than five years:

Repayable by instalments:
Bank loans more 5 yr by instal 203,540 217,540


NEXTGRANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

18. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 563,540 577,540

The bank loans are secured by legal charges over the charity's investment properties

19. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2023 2022
Unrestricted Restricted Total Total
fund fund funds funds
£    £    £    £   
Fixed assets 5,570,434 - 5,570,434 4,861,032
Investments 1,838,341 - 1,838,341 1,838,341
Current assets 167,792 - 167,792 172,122
Current liabilities (139,673 ) - (139,673 ) (58,964 )
Long term liabilities (549,540 ) - (549,540 ) (563,540 )
6,887,354 - 6,887,354 6,248,991

20. MOVEMENT IN FUNDS
Net
movement At
At 1.7.22 in funds 30.6.23
£    £    £   
Unrestricted funds
General fund 6,248,991 638,363 6,887,354

TOTAL FUNDS 6,248,991 638,363 6,887,354

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 680,939 (653,102 ) 610,526 638,363

TOTAL FUNDS 680,939 (653,102 ) 610,526 638,363


NEXTGRANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

20. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net Transfers
movement between At
At 1.7.21 in funds funds 30.6.22
£    £    £    £   
Unrestricted funds
General fund 5,750,643 494,666 3,682 6,248,991

Restricted funds
Restricted 3,682 - (3,682 ) -

TOTAL FUNDS 5,754,325 494,666 - 6,248,991

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 824,742 (330,076 ) 494,666

TOTAL FUNDS 824,742 (330,076 ) 494,666

21. RELATED PARTY DISCLOSURES

The charity received interest and donations from its subsidiary of £21,700 (2022 - £18,000) the amount owed by Nextgrant Tottenham Ltd at the balance sheet date was £164,825 (2022 - £163,744). The charity received £353,475 (2022 - £318,000) unrestricted donations from entities in which various trustees have an interest.