**Charity registration number 1010122 (England and Wales)**
## **RYKLOW CHARITABLE TRUST 1992**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2024**
## **RYKLOW CHARITABLE TRUST 1992**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Mr C M Williamson|
|---|---|
||Mrs C L Woodman-Smith|
||Mrs S M Jennings|
|**Charity number**|1010122|
|**Principal address**|4 Capital Quarter|
||Tyndall Street|
||Cardiff|
||CF10 4BZ|
|**Independent examiner**|Philip Handley FCA|
||HSKS Greenhalgh Ltd|
||Charlotte House|
||Stanier Way|
||The Wyvern Business Park|
||Derby|
||DE21 6BF|
|**Solicitors**|Geldards LLP|
||4 Capital Quarter|
||Tyndall Street|
||Cardiff|
||CF10 4BZ|
|**Investment advisors**|Rathbone Brothers PLC|
||10 Queen Street|
||Bristol|
||BS1 4NT|
## **RYKLOW CHARITABLE TRUST 1992**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 4|
|Independent examiner's report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the financial statements|8 - 14|
## **RYKLOW CHARITABLE TRUST 1992**
## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 31 MARCH 2024**_
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
## **Objectives and activities**
Under the terms of the trust deed, during the settlor's lifetime the trustees were to pay the income and the capital of the trust to such charitable institutions and for such charitable purposes as the settlor directed and after the settlor's death to such charitable institutions and for such charitable purposes as the trustees may direct. The trustees have formulated a grant making policy of awarding grants, generally to small or start-up charities, within the following categories:
- Projects in the developing world, especially those which are intended to be self-sustaining or concerned with education;
- Help for vulnerable families, minorities, and the prevention of abuse or exploitation of children;
- Conservation of natural species, landscape and resources;
- Medical research; and
- Projects to benefit the local community.
## **Public Benefit Statement**
The trust provides a public benefit in that:
- Its aims are to make grants that fulfil at least one of the four specified groups of charitable objectives;
- The grants are open to all sections of society and do not require "matched funding" on the part of beneficiaries;
- Grants are made to a wide group of beneficiaries so that all four objectives are met in varying degrees;
- Care is taken to ensure that the grants go to bodies that are charitable in themselves, or to individuals for a clearly charitable purpose; and
- It has had due regard to guidance published by the Charities Commission on public benefit.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.
- 1 -
## **RYKLOW CHARITABLE TRUST 1992**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **Achievements and performance**
## **Charitable activities**
The trustees have continued the previous policy of supporting the categories detailed under "Objectives and Activities" above.
During the year under review, the trustees selected a number of charities to grant awards to, under the categories listed above under objectives and aims.
In the year under review, awards were made to 6 charitable institutions and 0 individuals (2023: 6 and 0 respectively), with the awards being split between charities providing help for vulnerable families and children and local projects (2023: split between charities providing help for vulnerable families and children, medical research and local projects).
The awards this year were as follows:
- £5,000 to Off the Record, a charity offering mental health and well-being support for young people in Bristol;
- £10,000 to Aid Box Community, an organisation set up to support asylum seekers and refugees in Bristol;
- £7,500 to The Blue Box Belper, to assist in the re-building of a community centre in Belper to provide essential services to a deprived area;
- £4,000 to Headway South Bucks of England, a charity providing support and respite for people with acquired brain injuries;
- £5,618 to Wild Survivors, a charity working with local communities in Africa, using beekeeping alongside protection from elephants; and
- £5,000 Teddy's Wish, an organisation, researching the causes of baby loss, and offering bereavement support.
The awards in the prior year were as follows:
- £5,000 to Horizon Sports Club, a charity dedicated to enabling young people (aged 4 and above) with disabilities to participate in sports;
- £5,000 to Youth Concern, a charity supporting young people aged 13-25;
- £10,000 to The Oasis Partnership, a charity known for providing substance misuse expertise and support;
- £5,000 to Women's Aid Federation of England, an organisation providing support to women experiencing domestic abuse;
- £5,750 The Avon Centre, an equine and nature based activities charity for disabled and disadvantaged people in Bristol; and
- £10,000 to Aid Box Community, an organisation set up to support asylum seekers and refugees in Bristol.
## **Incoming Resources**
During the year under review, the charity received investment income amounting to £31,272 (2023: £30,259) which relates to dividends and interest received after deducting foreign tax throughout the year.
- 2 -
## **RYKLOW CHARITABLE TRUST 1992**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **Financial review**
## **Financial Review and Reserves policy**
The financial statements for the year ended 31 March 2024 comply with the Charities Act 2011 and the 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) issued in October 2019.
The charity does not seek funds from outside sources and is therefore entirely dependent upon the income generated by the charity's investments and the generosity of the settlor, the late Mr A B Williamson, and his family. With this limitation in mind, the trustees have sought to award grants each year of not less than the available income for that year.
In order to increase the amounts of grants awarded each year without unduly depleting the capital base of the charity (thus increasing in the longer term the disposable income available for the making of grants), the charity's investment managers have continued to pursue a policy of producing a total return (that is, consisting both of income and realised gains) on the total value of investment assets to enable a greater level of grants to be awarded. It is for this reason that the trustees maintain a high level of reserves in order to continue to make discretionary awards in future periods.
The trustees will continue to review their policy on the level of expenditure on grants against the total investment returns comprising income and realisable gains.
As a grant making charity, the trustees are desirous to ensure that the investment policies adopted maximise the returns available consistent with the need to take a low risk profile. Apart from the difficulty in defining what is and what is not an acceptable ethical or environmental investment policy, the trustees believe that to interfere in such a way with investment decisions can harm the return from the charity's investments thus ultimately reducing the amount of grants that can be made.
During 2024, the charity reported net current assets which is equivalent to free reserves of £1,393 (2023: assets of £4,723). However, investments in the balance sheet amounting to £1,019.489 are readily available and quickly accessible liquid funds which can be cashed to meet the demands of the charitable trust.
Total incoming resources for the year amounted to £31,272 (2023: £30,259) of which, all £31,272 was net income from investments after deducting foreign tax (2023: £30,259). Resources expended amounted to £46,745 (2023: £49,349).
Disposal of investments during the year realised a profit of £17,736 (2023: loss of £5,943). There was an increase in the market value of investments held of £44,473 (2023: a decrease of £64,125) giving a net gain of £62,209 (2023: a net loss £70,068) on investment assets.
Overall, the net movement in total funds was a net income of £46,736 (2023: a net expenditure of £89,158) resulting in total funds carried forward at the year-end of £1,020,882 (2023: £974,146).
## **Structure, governance and management Governing document**
The charity is constituted under a trust deed dated 31 January 1992, with supplemental deeds dated 22 March 1996 and 28 April 2016, and the trust was registered by the Charity Commissioners on 30 March 1992 under 1010122. The charity was established by an initial gift from the late Mr A B Williamson who, together with his family, have made further substantial gifts to the trust.
The trustees meet at least once a year either in person or by suitable electronic means agreed by the trustees in which all participants may communicate with all other participants but a grants sub-committee meets more often to assess applications and to make recommendations to the trustees.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr C M Williamson Mrs C L Woodman-Smith Mrs S M Jennings
- 3 -
## **RYKLOW CHARITABLE TRUST 1992**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **Recruitment and appointment of new trustees**
Prior to the settlor's death, the trustees (other than those appointed under the original trust deed) were appointed by the settlor during his lifetime. After the settlor's death, the settlor's power of appointment (in accordance with the terms of the trust deed and the late settlor's will) was vested in Mrs Claire Woodman-Smith. Trustees may be appointed at any time (as aforesaid) but so that their total number shall at no time exceed eight.
## **Induction and training of new trustees**
On appointment, trustees are (depending on the level of their experience) briefed on their responsibilities as trustees and are provided with copies of the trust deed, financial statements and other relevant documents. As it is the present policy only to appoint trustees with relevant experience, formal induction and training has not been considered necessary.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees have considered those areas potentially creating the greatest risk to the charity, particularly those in relation to financial, compliance and regulatory issues and are satisfied that adequate steps have been taken to mitigate exposure to these risks.
The trustees' report was approved by the Board of Trustees.
..............................
Mrs C L Woodman-Smith
## **Trustee**
Date: .............................................
- 4 -
## **RYKLOW CHARITABLE TRUST 1992**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF RYKLOW CHARITABLE TRUST 1992**
I report to the trustees on my examination of the financial statements of Ryklow Charitable Trust 1992 (the trust) for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the trust’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with Accounting and Reporting by Charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the trust as required by section 130 of the Charities Act 2011.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
## **Philip Handley FCA**
Institute of Chartered Accountants in England and Wales
HSKS Greenhalgh Ltd Charlotte House Stanier Way The Wyvern Business Park Derby DE21 6BF Date: ............................
- 5 -
## **RYKLOW CHARITABLE TRUST 1992**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2024**|**2023**|
||**Notes**|**£**|**£**|
|**Income from:**||||
|Investments|**3**|31,272|30,259|
|**Total income**||31,272|30,259|
|**Expenditure on:**||||
|Raising funds|**4**|3,851|3,724|
|Charitable activities|**5**|42,894|45,625|
|**Total expenditure**||46,745|49,349|
|Net gains/(losses) on investments|**10**|62,209|(70,068)|
|**Net income/(expenditure) and movement in funds**||46,736|(89,158)|
|**Reconciliation of funds:**||||
|Fund balances at 1 April 2023||974,146|1,063,304|
|**Fund balances at 31 March 2024**||1,020,882|974,146|
- 6 -
## **RYKLOW CHARITABLE TRUST 1992**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2024**_
|**Notes**
**Fixed assets**
Investments
**12**
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
Other creditors
**13**
**Net current assets**
**Total assets less current liabilities**
**The funds of the trust**
Unrestricted funds
**14**|**2024**
**£**
**£**
1,019,489
7,891
6,498
1,393
1,020,882
1,020,882
1,020,882|**2023**
**£**
**£**
969,423
20,704
15,981
4,723
974,146
974,146
974,146|**2023**
**£**
**£**
969,423
20,704
15,981
4,723
974,146
974,146
974,146|
|---|---|---|---|
||||974,146|
||||974,146|
||||974,146|
The financial statements were approved by the trustees on .........................
..............................
Mrs C L Woodman-Smith **Trustee**
- 7 -
## **RYKLOW CHARITABLE TRUST 1992**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **Charity information**
Ryklow Charitable Trust 1992 is a registered charity in England and Wales (number 1010122). It is operated under its constitution.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the trust's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The trust is a Public Benefit Entity as defined by FRS 102.
The trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
## **1.4 Income**
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **Allocation and apportionment of costs**
Costs are apportioned between support and governance costs on the basis of actual time allocations.
- 8 -
## **RYKLOW CHARITABLE TRUST 1992**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **(Continued)**
## **1.6 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Other financial assets**_
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in net income/(expenditure), except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
## _**Impairment of financial assets**_
Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.
If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.
## _**Derecognition of financial assets**_
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the trust transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.
- 9 -
## **RYKLOW CHARITABLE TRUST 1992**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **(Continued)**
## **1.7 Taxation**
The charity is exempt from tax on its charitable activities.
## **1.8 Fund accounting**
All the funds held by the Trustees are unrestricted funds which are expendable at the discretion of the trustees. Unrestricted funds comprise those funds which the trustees are free to use in accordance with charitable objects of the charity.
## **2 Critical accounting estimates and judgements**
In the application of the trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Income from investments**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|Other fixed asset investment income|31,272|30,259|
Investment income included in the financial statement was net income, after deducting foreign tax of £273 (2023: £353) from the overseas dividend and interest.
## **4 Raising funds**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**general**|general|
||**2024**|2023|
||**£**|£|
|Investment management|3,851|3,724|
||3,851|3,724|
- 10 -
## **RYKLOW CHARITABLE TRUST 1992**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **5 Expenditure on charitable activities**
||**Charitable**|**Charitable**|
|---|---|---|
||**activities**|**activities**|
||**2024**|**2023**|
||**£**|**£**|
|**Direct costs**|||
|Grant funding of activities (see note 6)|37,118|40,750|
|**Share of support and governance costs (see note 7)**|||
|Governance|5,776|4,875|
||42,894|45,625|
|**Analysis by fund**|||
|Unrestricted funds|42,894|45,625|
## **6 Grants payable**
||**Grants**|Grants|
|---|---|---|
||**payable**|payable|
||**2024**|2023|
||**£**|£|
|Grants to institutions:|||
|Medical Research|5,000|-|
|Local Projects|4,000|20,750|
|Projects Developing World|5,618|-|
|Help for Vulnerable familes, Minorities and Children|22,500|20,000|
||37,118|40,750|
## **7 Support costs allocated to activities**
|**Support costs allocated to activities**|||
|---|---|---|
|Governance costs
**Analysed between:**
Charitable activities|**2024**
**£**
5,776
5,776|**2023**
**£**
4,875|
|||4,875|
Included in accountancy fees are fees for the independent examination amounting to £599 (inclusive of value added tax) (2023: £567).
## **8 Trustees**
## **Trustee's expenses**
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
- 11 -
## **RYKLOW CHARITABLE TRUST 1992**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **8 Trustees**
## **(Continued)**
## **Trustee's remuneration and benefits**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **9 Employees**
||**2024**|**2023**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
There were no employees whose annual remuneration was more than £60,000.
## **10 Net gains/(losses) on investments**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**general**|general|
||**2024**|2023|
||**£**|£|
|Revaluation of investments|44,473|(64,125)|
|Gain/(loss) on sale of investments|17,736|(5,943)|
||62,209|(70,068)|
## **11 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
- 12 -
## **RYKLOW CHARITABLE TRUST 1992**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **12 Fixed asset investments**
||**Listed**|
|---|---|
||**investments**|
||**£**|
|**Cost or valuation**||
|At 1 April 2023|969,423|
|Additions|203,632|
|Valuation changes|44,473|
|Disposals|(198,039)|
|At 31 March 2024|1,019,489|
|**Carrying amount**||
|At 31 March 2024|1,019,489|
|At 31 March 2023|969,423|
|Investments at fair value comprise:
Investments assets in the UK
Overseas assets|**2024**
**£**
871,606
147,883
1,019,489|**2023**
**£**
832,838
136,585|
|---|---|---|
|||969,423|
## **Fixed asset investments revalued**
Fixed asset investments were valued on an open market basis on 31 March 2024 by Rathbone Investment Management Limited.
## **13 Other creditors falling due within one year**
|**Other creditors falling due within one year**|||
|---|---|---|
||**2024**|**2023**|
||**£**|**£**|
|Accruals and deferred income|6,498|15,981|
- 13 -
## **RYKLOW CHARITABLE TRUST 1992**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **14 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
|General funds
**Previous year:**
General funds|**At 1 April**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**Gains and**
**losses**
**At 31 March**
**2024**
**£**
**£**
**£**
**£**
**£**
974,146
31,272
(46,745)
62,209
1,020,882
**At 1 April**
**2022**
**Incoming**
**resources**
**Resources**
**expended**
**Gains and**
**losses**
**At 31 March**
**2023**
**£**
**£**
**£**
**£**
**£**
1,063,304
30,259
(49,349)
(70,068)
974,146|
|---|---|
## **15 Related party transactions**
There were no disclosable related party transactions during the year.
- 14 -