Docusign Envelope ID: 0231B1E5-624B-4DE0-AE93-A965DF0244BB
CHARITY REGISTRATION NUMBER: 1004327
The Beth Hamedrash Satmar Trust Unaudited Financial Statements
31 March 2024
COHEN ARNOLD
Chartered accountants New Burlington House 1075 Finchley Road London NW11 0PU
Docusign Envelope ID: 0231B1E5-624B-4DE0-AE93-A965DF0244BB
The Beth Hamedrash Satmar Trust
Financial Statements
Year ended 31 March 2024
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 6 |
| Statement of financial activities | 7 |
| Statement of financial position | 8 |
| Statement of cash flows | 9 |
| Notes to the financial statements | 10 |
Docusign Envelope ID: 0231B1E5-624B-4DE0-AE93-A965DF0244BB
The Beth Hamedrash Satmar Trust Trustees' Annual Report Year ended 31 March 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.
Reference and administrative details
Registered charity name The Beth Hamedrash Satmar Trust Charity registration number 1004327 Principal office New Burlington House 1075 Finchley Road NW11 OPU The trustees Mr S. Laufer Mr J. Sternlicht Company secretary Solomon Laufer Independent examiner Moshe Broner-Cohen New Burlington House 1075 Finchley Road London NW11 0PU
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Docusign Envelope ID: 0231B1E5-624B-4DE0-AE93-A965DF0244BB
The Beth Hamedrash Satmar Trust
Trustees' Annual Report (continued)
Year ended 31 March 2024
Structure,governance and management
Governing document
The organisation is governed by a Trust Deed dated 8 February 1989.
Appointment, Training and Recruitment of Trustees
The organisation is run by the trustees who all act in an honorary capacity.
New trustees are appointed, when needed, on the basis of personal competence, specialist skills, local availability and their ability to promote the charitable activities of any institution professing and teaching the principles of traditional Judaism and the advancement of the religion in accordance with the Jewish faith. New trustees are inducted into the workings of the charity by the current trustees.
None of the trustees have any beneficial interest in the charity.
Risk management
The trustees have identified and reviewed the major risks to which the Trust is exposed, in particular those related to the operations and finance of the Trust, and are satisfied that systems are in place to mitigate those risks.
Financial risk management and policies
The charity holds or issues financial instruments in order to achieve two main objectives being:
a) to finance its operations
b) to generate funds.
In addition various financial instruments (e.g. other debtors, other creditors, accruals and prepayments) arise directly from the charity's operations.
Credit risk
The charity monitors credit risk closely and considers that its current policies of credit risk checks meets its objectives of managing exposure to credit risk.
Amounts shown in the balance sheet represent the maximum credit exposure in the event other parties fail to perform their obligations under the financial instruments.
It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.
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Docusign Envelope ID: 0231B1E5-624B-4DE0-AE93-A965DF0244BB
The Beth Hamedrash Satmar Trust
Trustees' Annual Report (continued)
Year ended 31 March 2024
Objectives, aims and activities for the benefit of the public
Objects
The charity was established for the purpose of promoting the Orthodox Jewish Religion in general and in particular by maintaining and managing the Satmar Synagogue at 86 Cazenove Road in London, and providing facilities for public religious worship and such other services and activities incidental thereto.
Aims and objectives
The charity's other aims and objectives are:
a) Relief of poverty
b) Advancement of education amongst persons who in the uncontrolled opinion of the trustees are of the Jewish faith
c) the study of the Torah
Aims, Objectives and activities for public benefit
The trustees confirm that they have referred to the guidance contained in the Charity's Commission's general guidance on public benefit when reviewing the charity's aim and objectives and in planning future activities and setting the grant making policy for the year.
As mentioned above this charity was set up to maintain and manage the synagogue in Cazenove Road in London known as The Beth Hamedrash Satmar. This includes providing facilities for public worship and Torah study and other services, amenities and activities incidental thereto. The charity also provides grants for students who engage in Torah study in the Synagogue.
In addition the charity makes grants and donations to other charitable organisations and needy individuals in the community and in doing so, the charity has complied with its duty to act for public benefit in accordance with section 4 of the Charities Act 2011.
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Docusign Envelope ID: 0231B1E5-624B-4DE0-AE93-A965DF0244BB
The Beth Hamedrash Satmar Trust
Trustees' Annual Report (continued)
Year ended 31 March 2024
Achievements and performance
During the year the charity continued its activities and maintained its support of religious educational and other charitable institutions in Great Britain.
Investment powers and policy
In accordance with the trust deed, the charity has the power to make any investment, which the trustees see fit. The trustees regularly view the charity's position and needs in respect of the investment policy.
Grant making policy
Grants are made to individuals engaged in Torah study in the Synagogue, needy individuals in the community, and to charitable organisations conforming to the objects of the charity, after the trustees have satisfied themselves as to the bona fides of the recipients.
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely administrative costs of the charity for the next year. The level of unrestricted reserves as at 31st March 2024 was £719,975 (2023: £864,906).
Going Concern
The financial statements have been prepared on the going concern basis notwithstanding the charity's net current liabilities. The trustees consider this to be appropriate given the continued support of the charity's creditors. As such the trustees believe it is appropriate to prepare the financial statements on a going concern basis because the charity is in a position to meet all of its obligations for the foreseeable future.
Related party transactions
During the year the charity received donations totalling £31,500 (2023: £62,250) from charities where the trustees Mr. J Sternlicht and Mr. S Laufer are also trustees. This year, £Nil (2023: £12,300) was received from companies and charities connected with the family members of the trustees.
Financial review
The charity is solely dependent upon donations from the community and other charitable organisations. Donations received during the year were lower than in the previous year. As a result the charitable expenditure has decreased from £391,640 to £297,504 as per note 5.
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Docusign Envelope ID: 0231B1E5-624B-4DE0-AE93-A965DF0244BB
The Beth Hamedrash Satmar Trust
Trustees' Annual Report (continued)
Year ended 31 March 2024
Plans for future periods
The charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory incoming resources.
Fixed assets
The Synagogue is leased to the charity by The Congregation of Yetev Lev and Wiseheights Limited, whilst the Mikveh is leased to the charity by Wiseheights Limited a charity regulated in England and Wales. All buildings are leased for 10 years and all additions and refurbishment costs are capitalised and depreciated according to the life of the lease. Some of the trustees of this charity are also trustees of The Congregation of Yetev Lev and Wiseheights Limited.
Responsibilities of the trustees
The charity's trustees are responsible for the preparing of the Trustees Annual Report and the financial statements in accordance with applicable law and regulations.
Independent examiner
Moshe Broner-Cohen ICAEW has been re-appointed as independent examiner for the ensuing year.
The trustees' annual report was approved on 27 January 2025 and signed on behalf of the board of trustees by:
Mr S. Laufer Trustee
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Docusign Envelope ID: 0231B1E5-624B-4DE0-AE93-A965DF0244BB
The Beth Hamedrash Satmar Trust
Independent Examiner's Report to the Trustees of The Beth Hamedrash Satmar Trust
Year ended 31 March 2024
I report to the trustees on my examination of the financial statements of The Beth Hamedrash Satmar Trust ('the charity') for the year ended 31 March 2024.
Respective responsibilities of trustees and examiner
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Moshe Broner-Cohen Independent Examiner
27 January 2025 Date
New Burlington House 1075 Finchley Road London NW11 0PU
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Docusign Envelope ID: 0231B1E5-624B-4DE0-AE93-A965DF0244BB
The Beth Hamedrash Satmar Trust
Statement of Financial Activities
Year ended 31 March 2024
| 2024 | 2024 | 2023 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 152,573 | 152,573 | 254,222 |
|
|
|
||
| Total income | 152,573 | 152,573 | 254,222 | |
|
|
|
||
| Expenditure | ||||
| Expenditure on charitable activities | 5,6 | (297,504) | (297,504) | (391,640) |
|
|
|
||
| Total expenditure | (297,504) | (297,504) | (391,640) | |
|
|
|
||
|
|
|
||
| Net expenditure and net movement in funds | (144,931) | (144,931) | (137,418) | |
|
|
|
||
| Reconciliation of funds | ||||
| Total funds brought forward | 864,906 | 864,906 | 1,002,324 | |
|
|
|
||
| Total funds carried forward | 719,975 | 719,975 | 864,906 | |
|
|
|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 10 to 16 form part of these financial statements.
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Docusign Envelope ID: 0231B1E5-624B-4DE0-AE93-A965DF0244BB
The Beth Hamedrash Satmar Trust
Statement of Financial Position
31 March 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 13 | 730,136 | 875,278 |
| Current assets | |||
| Cash at bank and in hand | 72,439 | 61,428 | |
| Creditors: amounts falling due within one year | 14 | (82,600) | (71,800) |
| | | ||
| Net current liabilities | (10,161) | (10,372) | |
| | | ||
| Total assets less current liabilities | 719,975 | 864,906 | |
| | | ||
| Net assets | 719,975 | 864,906 | |
| | | ||
| Funds of the charity | |||
| Unrestricted funds | 719,975 | 864,906 | |
| | | ||
| Total charity funds | 15 | 719,975 |
864,906 |
These financial statements were approved by the board of trustees and authorised for issue on 27 January 2025, and are signed on behalf of the board by:
Mr S. Laufer Trustee
The notes on pages 10 to 16 form part of these financial statements.
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Docusign Envelope ID: 0231B1E5-624B-4DE0-AE93-A965DF0244BB
The Beth Hamedrash Satmar Trust
Statement of Cash Flows
Year ended 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net expenditure | (144,931) | (137,418) |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 145,142 | 145,237 |
| Accrued expenses/(income) | 4,800 | (10,320) |
| Changes in: | ||
| Trade and other creditors | 6,000 | (49,607) |
|
|
|
| Cash generated from operations | 11,011 | (52,108) |
|
|
|
| Net cash from/(used in) operating activities | 11,011 | (52,108) |
|
|
|
| Cash flows from investing activities | ||
| Purchase of tangible assets | – | (46,872) |
|
|
|
| Net cash used in investing activities | – | (46,872) |
|
|
|
| Net increase/(decrease) in cash and cash equivalents | 11,011 | (98,980) |
| Cash and cash equivalents at beginning of year | 61,428 | 160,408 |
|
|
|
| Cash and cash equivalents at end of year | 72,439 |
61,428 |
The notes on pages 10 to 16 form part of these financial statements.
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Docusign Envelope ID: 0231B1E5-624B-4DE0-AE93-A965DF0244BB
The Beth Hamedrash Satmar Trust Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is New Burlington House, 1075 Finchley Road, London, NW11 OPU.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on the going concern basis notwithstanding the charity's net current liabilities. The trustees consider this to be appropriate given the continued support of the charity's creditors. As such the trustees believe it is appropriate to prepare the financial statements on a going concern basis because the charity is in a position to meet all of its obligations for the foreseeable future.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Besides those mentioned below, there are no judgements, estimates and assumptions that affected the amounts reported in the year.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Docusign Envelope ID: 0231B1E5-624B-4DE0-AE93-A965DF0244BB
The Beth Hamedrash Satmar Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Docusign Envelope ID: 0231B1E5-624B-4DE0-AE93-A965DF0244BB
The Beth Hamedrash Satmar Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property - 10% straight line Equipment - 25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
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Docusign Envelope ID: 0231B1E5-624B-4DE0-AE93-A965DF0244BB
The Beth Hamedrash Satmar Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2024
4. Donations and legacies
| Donations and legacies | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Donations | ||||
| General donations | 69,606 | 69,606 | 119,878 | 119,878 |
| Charitable organisations | 82,967 | 82,967 | 134,344 | 134,344 |
|
|
|
|
|
152,573 |
152,573 |
254,222 |
254,222 |
General donations
5. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Charitable Activity | 147,345 | 147,345 | 241,168 | 241,168 |
| Support costs | 150,159 | 150,159 | 150,472 | 150,472 |
|
|
|
|
|
| 297,504 | 297,504 | 391,640 | 391,640 | |
|
|
|
|
6. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Grant funding | Total funds | Total fund | ||
| directly | of activities Support costs | 2024 | 2023 | ||
| £ | £ | £ | £ | £ | |
| Charitable Activity | 136,345 | 11,000 | 150,159 | 297,504 | 391,640 |
|
|
|
|
|
|
| Charitable activities undertaken directly during the | year were as | follows: | |||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Provision of amenities | 1,133 | 17,590 | |||
| Maintenance of Synagogue | building and ritual objects | 135,212 | 215,878 | ||
| Student Grants | – | 1,000 | |||
|
|
||||
| 136,345 | 234,468 | ||||
|
|
7. Analysis of support costs
| Depreciation | Audit fees Bank charges | Audit fees Bank charges | Total 2024 | Total 2023 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Support costs | 145,142 | 4,800 | 217 | 150,159 | 150,472 |
|
|
|
|
|
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Docusign Envelope ID: 0231B1E5-624B-4DE0-AE93-A965DF0244BB
The Beth Hamedrash Satmar Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2024
8. Analysis of grants
| 8. | Analysis of grants | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Grants to institutions | |||
| Chareidim Beis Shaymesh | 7,000 | – | |
| KYL Central Shul Trust | – | 6,700 | |
| Grants < £2,000 | 4,000 | – | |
|
|
||
| 11,000 | 6,700 | ||
|
|
||
| Total grants | 11,000 | 6,700 | |
|
|
||
| 9. | Net expenditure | ||
| Net expenditure is stated after charging/(crediting): | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | 145,142 | 145,237 | |
|
|
||
| 10. | Independent examination fees | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 4,800 |
4,800 |
11. Staff costs
The average head count of employees during the year was Nil (2023: Nil). No employee received employee benefits of more than £60,000 during the year (2023: Nil).
The charity did not meet any individual expenses incurred by the trustees for services provided to the charity.
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by either of the two trustees.
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Docusign Envelope ID: 0231B1E5-624B-4DE0-AE93-A965DF0244BB
The Beth Hamedrash Satmar Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2024
13. Tangible fixed assets
| 13. | Tangible fixed assets | |||
|---|---|---|---|---|
| Short | ||||
| leasehold | ||||
| property | Equipment | Total | ||
| £ | £ | £ | ||
| Cost | ||||
| At 1 April 2023 and 31 March 2024 | 1,453,555 | 14,483 | 1,468,038 | |
|
|
|
||
| Depreciation | ||||
| At 1 April 2023 | 579,419 | 13,341 | 592,760 | |
| Charge for the year | 144,856 | 286 | 145,142 | |
|
|
|
||
| At 31 March 2024 | 724,275 | 13,627 | 737,902 | |
|
|
|
||
| Carrying amount | ||||
| At 31 March 2024 | 729,280 | 856 | 730,136 | |
|
|
|
||
| At 31 March 2023 | 874,136 | 1,142 | 875,278 | |
|
|
|
||
| 14. | Creditors: amounts falling due within one year | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Accruals and deferred income | 9,600 | 4,800 | ||
| Other creditors | 73,000 | 67,000 | ||
|
|
|||
| 82,600 | 71,800 | |||
|
|
15. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At 31 March | ||||
| 1 | April 2023 | Income | Expenditure | 2024 | |
| £ | £ | £ | £ | ||
| General funds | 864,906 | 152,573 | (297,504) | 719,975 | |
|
|
|
|
||
| At | At 31 March | ||||
| 1 | April 2022 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | ||
| General funds | 1,002,324 |
254,222 |
(391,640) |
864,906 |
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Docusign Envelope ID: 0231B1E5-624B-4DE0-AE93-A965DF0244BB
The Beth Hamedrash Satmar Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2024
16. Analysis of net assets between funds
| 16. | Analysis of net assets between funds | |||
|---|---|---|---|---|
| Unrestricted | Total Funds | |||
| Funds | 2024 | |||
| £ | £ | |||
| Tangible fixed assets | 730,136 | 730,136 | ||
| Current assets | 72,439 | 72,439 | ||
| Creditors less than 1 year | (82,600) | (82,600) | ||
|
|
|||
| Net assets | 719,975 | 719,975 | ||
|
|
|||
| Unrestricted | Total Funds | |||
| Funds | 2023 | |||
| £ | £ | |||
| Tangible fixed assets | 875,278 | 875,278 | ||
| Current assets | 61,427 | 61,427 | ||
| Creditors less than 1 year | (71,800) | (71,800) | ||
|
|
|||
| Net assets | 864,905 | 864,905 | ||
|
|
|||
| 17. | Analysis of changes in net debt | |||
| At | At | |||
| 1 Apr 2023 | Cash flows | 31 Mar 2024 | ||
| £ | £ | £ | ||
| Cash at bank and in hand | 61,428 | 11,011 | 72,439 | |
|
|
|
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