TERRACE LIMITED
Financial health, per its FY2024 accounts
The accounts state that unrestricted reserves increased to £651,481, reflecting a net movement in funds of £10,064 for the year. The charity's primary income source is a subsidiary company, which generated donations of £100,000. The trustees acknowledge their responsibilities for preparing the financial statements on a going concern basis, with no material uncertainties disclosed.
What the accounts disclose
“Included in Other debtors (Note 8) is a loan to Reifer Memorial Ltd of £2,043 (2023: £2,043), a Company with common directorship.” — page 16
“£33,000 (2023: £45,000) was paid to The Joshua Trust, on whose board Mr Grussgott and his son-in-law sit.” — page 16
“Included in Other debtors (Note 8) is a loan to Reifer Memorial Ltd of £2,043 (2023: £2,043), a Company with common directorship.” — page 16
“£33,000 (2023: £45,000) was paid to The Joshua Trust, on whose board Mr Grussgott and his son-in-law sit.” — page 16
Trustees
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £108k | £98k |
| 31/12/2023 | £125k | £122k |
| 31/12/2022 | £100k | £101k |
| 31/12/2021 | £70k | £71k |
| 31/12/2020 | £151k | £151k |
Common questions
Is TERRACE LIMITED financially healthy?
The accounts state that unrestricted reserves increased to £651,481, reflecting a net movement in funds of £10,064 for the year. The charity's primary income source is a subsidiary company, which generated donations of £100,000. The trustees acknowledge their responsibilities for preparing the financial statements on a going concern basis, with no material uncertainties disclosed. Its FY2024 accounts were independently examined.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| ACHISOMOCH AID COMPANY LIMITED | 1 | £132k |
| THE GERTNER CHARITABLE TRUST | 1 | £15k |
| KKMG | 1 | £5k |