**02546262**
## **CHARITY REGISTERED NUMBER:1013623**
## **THE BAYSWATER INSTITUTE**
## **TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **NOEL & CO.**
**CHARTERED ACCOUNTANTS 4 PARLIAMENT CLOSE PRESTWOOD GREAT MISSENDEN BUCKINGHAMSHIRE HP16 9DT**
## **THE BAYSWATER INSTITUTE**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Malcolm Ballantine (Chair)|
|---|---|
||Bob Collingham|
||Penny Jones|
||Alan Dale|
|**Company Number:**|02546262|
|**Registered Charity Number:**|1013623|
|**Registered Office:**|4th Floor Silverstream House|
||45 Fitzroy Street|
||London W1T 6EB|
|**Accountants:**|Noel & Co.|
||Chartered Accountants|
||4 Parliament Close|
||Prestwood|
||Great Missenden|
||Buckinghamshire|
||HP16 9DT|
|**Bankers:**|National Westminster Bank Plc|
||46 Notting Hill Gate|
||London W11 3ZP|
|**Solicitors:**|Bates, Wells and Braithwaite|
||2-6 Cannon Street|
||London EC4M 6YH|
## **THE BAYSWATER INSTITUTE**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **CONTENTS**
||**Page**|
|---|---|
|Charity - Trustees Report|1|
|Independent Examiner's Report|6|
|Balance sheet|7|
|Statement of financial activities|8|
|Notes|10|
**THE BAYSWATER INSTITUTE**
## **DIRECTORS' AND TRUSTEES' REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2021**
The Trustees present their report and the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS I 02) in preparing the annual report and financial statements of the charity.
## **Structure, Governance and Management**
The charity was incorporated on 5th October 1990 as a company limited by guarantee and not having a share capital. The company is registered in England and Wales (Company number 02546262). The governing document is the Memorandum and Articles of Association. Clause 7 of the Memorandum restricts the liability of each member, as defined by paragraph 2 of the Articles of Association, to one pound in the event of the Charity being wound up. The Charity cannot pay dividends and must use all its funds to further its stated charitable objectives. At March 2020, there were five members (2019: five). The Charity is registered at the Charity Commission (Registered Charity number I 013623).
The Trustees, who are also the directors for the purpose of company law, and who served during
the year were: Malcolm Ballantine (Chair) Bob Collingham Penny Jones Alan Dale Jane Austin (resigned July 2020)
The Charity has its registered office in London. A Board of Trustees governs the work of the charity as the decision-making body of the organisation, according to its Memorandum and Articles of Association. The Trustees meet at intervals of about three months to consider the current and future work of the Institute and make financial and staffing decisions.
The day-to-day management of the Institute is the responsibility of the Chief Executive Officer. From April to August 2020 this was Professor Simon Bell and from September 2020 to March 2021 it was Dr. Priya Davda.
Trustees are appointed at the Annual General Meeting of the charity, or by the existing Trustees to hold office until the Annual General Meeting.
The Board of Trustees is the governing body of the Charity and determines its policy. It is also responsible for the general management of the Charity and for ensuring the Charity policy is implemented by the staff.
New Trustees are appointed by the Board of Trustees, and at any time there should not be less than three Trustees. Since the Charity is a company limited by guarantee, Board members are also Directors and are registered as such in accordance with the Companies Act 2006. Board members can claim for reasonable expenses in undertaking the Charity's business but they receive no remuneration or other financial benefit. All members of the Board have confirmed that they do not have, and have not had, any beneficial interest in any contract with the Charity.
The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
1
## **THE BAYSWATER INSTITUTE**
## **DIRECTORS' AND TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021**
## **Objectives and activities**
The Bayswater Institute was founded in 1990 with the objective of turning the social sciences to practical use. The Institute uses the methods and findings of the social sciences to help organisations integrate human and social considerations with economic and technical ones in the design and development of organisations and work.
In practice this means using research and action research to further organisational developments which reflect and integrate the whole complex of factors (human, technical and economic) existing in an organisation and its members. It means an approach to organisation diagnosis which moves across disciplinary boundaries and is capable of drawing on anthropology, psychology, social psychology, sociology and psychodynamics for concepts and methods. It also means considering the needs and development of people in the design and implementation of technical and managerial systems and using education and training to further these ideas. The Bayswater Institute also works to disseminate these methods of integrating human aspects of organisation.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Recent History (2016** - **2020)**
In 2016 the Institute received a substantial legacy in the will of its Founder, Dr Lisl Klein, and the Trustees made the decision to strengthen and develop the Institute in order to pursue its objectives in a changing socioeconomic and political environment. To this end in 2017-18 an investment programme was launched and two senior appointments were made. For this period expenditure exceeded income as the Institute invested in new training ventures and new staff.
Regrettably, the onset of the COVID-19 pandemic in March 2020 meant that the investment programme had to be curtailed and decisions were taken to reduce costs in order that the Institute, like so many other organisations, could weather a storm that reduced opportunities to engage in much of its normal work and still remain in a sound financial position.
## **The Institute in 2020 -21**
As a result of the lockdowns and other restrictions imposed during the pandemic the Institute was unable to engage in many planned activities:
**1. Training Events:** For many years the Institute has offered an annual Working Conference to provide managers with experiential learning opportunities to develop their ‘double task’ capabilities. In 2020 the annual event 'Wisdom in Groups' (WiG) had to be cancelled. The Institute has also developed and run other training and coaching products, including a series of one–day ‘Masterclasses’ and these too had to be cancelled. During the year the Institute experimented with delivering experiential training in Mindfulness as a virtual offering. We offered these as free sessions and they were well received.
2
**2. The Construction Industry Training Board (CITB) Experiential Learning Project:** This was a three-year project in collaboration with the public service consultancy, Traverse, which began in February 2019. It was an evaluation of experiential training events supported by the CITB and these events had to be cancelled due to the pandemic. As a consequence the evaluation was also cancelled.
However, other work of the Institute was able to continue and we were able to support organisations as they made planned changes during the turbulent period of the pandemic. The projects have been within two connected strands that have long characterised the work of the Institute:
**1. Sociotechnical system developments:** The long tradition of working with organisations to help them integrate new technology into their working practices has continued. The main theme has been the adoption of new forms of digitisation in health and social care
**2. From policy into practice:** The Institute also works with organisations as they strive to put policy initiatives into effective practice on the front line.
**Other developments** : At the beginning of this financial year the Institute left its office premises in Bayswater and became a virtual organisation. The existing strong ties between members of staff have meant this transition has been effected with minimum disruption. In September Professor Bell stepped down as CEO to become a senior consultant in the Institute and Dr. Priya Davda, a member of staff for many years, was appointed as the new CEO. The Institute was also able to take advantage of the Government furlough scheme for a short period whilst awaiting the beginning of new projects.
The main project work undertaken in the Institute was as follows:
**WORKTECC (Workforce Operations that Realise Knowledge -based Transformational Efficiency gains in Community Care):** This is a three-year research project, funded by the Health Foundation, led by CORU at UCL with other partners in Care City and two North East London Boroughs. The aim is to explore whether modem operations research methods can enable greater efficiency in the delivery of home-based community health care. The Institute is examining the capability of the London Boroughs to implement change and to this end has developed an organisational change readiness template which will be used to assess the issues associated with the adoption of the specific OR solutions proposed by CORU.
**Local Government Association (LGA) Social Care Digital Innovation Programme (SCDIP):** Following the learning achieved in the evaluation of an earlier programme, SCDIP supported the development of a set of social care digital innovations. The Institute was engaged to undertake formative evaluation to support continuous learning during these developments. The work has led to the identification of the need for a 'discovery' phase at the beginning of each development in which the innovators explore the requirements of the potential user community.
**The Evaluation of 'My Health Guide'** (now renamed ‘Hear Me Now’) in the NHS Digital Pathfinder Programme: 'My Health Guide' is a digital application to help people with learning disorders store information about themselves and communicate with others. The NHS Pathfinder Programme is funding a number of digital application developments in health and social care and the Institute is evaluating the adoption of My Health Guide in Hft, a provider of services to people with learning disorders, and in other similar providers in Hertfordshire. In this project the Institute is working as an action research partner with Hft and Maldaba, who supply 'My Health Guide', to both evaluate the adoption approach being used and assess the benefits being achieved for people with learning disorders and for other stakeholders. In the project the Institute has developed guidelines for the adoption of digital products of this kind and methods of assessing the social and financial benefits that may be obtained.
**The Development of Community Investment Plans in Radian:** The Housing Association, Radian, (now Abri) provides community support for its clients in South East England and has policies to invest in more comprehensive community support in the future. The Institute is evaluating how these investment plans might be implemented in practice in the deprived areas in which Radian
3
have housing developments.
**The Equalities and Human Rights Commission (EHRC):** As part of their inquiry into racial inequality in health and social care workplaces, the Equalities and Human Rights Commission asked the Institute to undertake a quantitative analysis of NHS and Social Care workforce statistics. This work explored whether some groups of minority ethnic staff experience differential treatment and/or discrimination compared with white British staff and included a focus on the experiences and treatment of low-paid workers in Health and Social Care.
**The Earth Journalism Network (EJN):** With core funding from SIDA (Swedish International Development Agency) The Earth Journalism Network’s Asia-Pacific Project aims to boost the quantity and quality of environmental coverage in the region as a means towards increasing the capacity among local and regional actors to promote greater accountability and sustainable development in relation to the environment and climate in Asia and the Pacific. In partnership with Insight in Action, the Institute is evaluating the impact of this international, multi-regional, 3-year project and is providing recommendations for the future of the programme.
## **Financial review**
During the year the Institute reported net expenditure of £40,492(2019/20: £79,144 leaving net assets in the charity of £80,595 (2019/20: £121,088). It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three- and six-month's expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. The future plans for the Institute will include a commitment to ensuring that these levels of reserves are achieved and maintained.
## **Plans for 2021-22**
The Institute enters 2021/22 with the expectation of continuing as a virtual organisation even if the pandemic recedes and there is a general return to office-based work. Some of the existing projects continue into the next year (WORKTECC, RADIAN (Abri) and EJN) and we hope to resume our training work as soon as possible. We hope to continue with and adapt the work that we do to meet the needs of organisations as we emerge from the pandemic. The work with EHRC has opened the possibility to helping organisations develop policies and practices to respond to the growing EDI (Equality, Diversity and Inclusion) agenda. Based on our expertise in group relations and employee well-being we also hope to develop training courses on mental well-being and reflexivity to help individuals and organisations understand and navigate well-being in the workplace. The Institute also plans to take advantage of the Government Kickstart Scheme to employ two young people in administrative and research assistant roles to give them experience of working in a dynamic research and consultancy environment.
## **Statement of Trustees' Responsibilities**
The Trustees, who are also the directors of The Bayswater Institute for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these accounts, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent; and
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
4
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the board of directors and trustees on 30.11.21
-------------------
……………………..
Malcolm Ballantine Chairman of Trustees
5
**INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE BAYSWATER INSTITUTE**
## **FOR THE YEAR ENDED 31 MARCH 2021**
I report on the accounts which are set out on pages 7 to 13
## **Responsibilities and basis of report**
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to:
The trustees who are also directors of the company for the purpose of
Examine the accounts under section 145 of the 2011 Act; follow the procedures laid down in the general directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act); and state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
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 company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
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.
Linda Noel FCA Dated: 22 October 2021 Noel & Co. Chartered Accountants 4 Parliament Close Great Missenden Buckinghamshire HP16 9DT
6
## **COMPANY NUMBER: 02546262**
## **THE BAYSWATER INSTITUTE**
## **BALANCE SHEET**
## **AT 31 MARCH 2021**
||**Note**||**2021**||**2020**|
|---|---|---|---|---|---|
|||**£**|**£**|**£**|**£**|
|**Current assets**||||||
|Debtors|7|1,500||17,748||
|Bank Accounts||87,881||111,423||
|||**––––––––**||**––––––––**||
|||89,381||129,171||
|**Creditors**||||||
|Amounts falling due within||||||
|one year|8|8,786||8,083||
|||**––––––––**||**––––––––**||
|**Net current assets**|||80,595||121,088|
||||**––––––––**||**––––––––**|
|**Total assets less current liabilities**|||80,595||121,088|
||||**––––––––**||**––––––––**|
|**Net assets**|||£ 80,595||£ 121,088|
||||**––––––––**||**––––––––**|
|**Capital funds**||||||
|Unrestricted funds|||80,595||121,088|
||||**––––––––**||**––––––––**|
|**Total funds**|||£ 80,595||£ 121,088|
||||**––––––––**||**––––––––**|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2017. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these accounts.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
The accounts were approved by the Board on ......30.11.21...................
**Malcolm Ballantine Chairman Trustee**
The annexed notes form part of these financial statements
7
## **THE BAYSWATER INSTITUTE**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
|||**Total**|**Total**|
|---|---|---|---|
||**Unrest'd**|**Funds**|**Funds**|
||**Funds**|**2021**|**2020**|
||**£**|**£**|**£**|
|**Incoming resources**||||
|Incoming Resources from||||
|generated funds:||||
|Voluntary income|8,173|8,173|28,396|
|Activities to generate funds|36,438|36,438|85,285|
|Investment income|558|558|
995|
||**–––––––**|**–––––––**|**–––––––**|
||45,169|45,169|114,676|
||**–––––––**|**–––––––**|**–––––––**|
|**Total incoming resources**|45,169|45,169|114,676|
||**–––––––**|**–––––––**|**–––––––**|
|**Resources expended**||||
|Charitable activities|83,897|83,897|189,674|
|Governance costs|1,764|1,764|4,146|
||**–––––––**|**–––––––**|**–––––––**|
|**Total resources expended**|85,661|85,661|193,820|
||**–––––––**|**–––––––**|**–––––––**|
|**Net movement in funds**|(40,492)|(40,492)|(79,144)|
|**Total funds brought forward**|£121,087|£121,087|200,232|
||**–––––––**|**–––––––**|**–––––––**|
|**Total funds carried forward**|£ 80,595|£ 80,595|£121,088|
||**–––––––**|**–––––––**|**–––––––**|
Details of Incoming resources and resources used are given in the notes to the financial statements.
8
**THE BAYSWATER INSTITUTE**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **DETAILED ANALYSIS OF MOVEMENTS IN FUNDS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|||**2021**||**2020**|
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
|**Unrestricted Funds**|||||
|Balance B/fwd|121,087||200,232||
|Deficit for the year|(40,492)||(79,145)||
||**––––––––**||**––––––––**||
|||80,595||121,087|
|||**––––––––**||**––––––––**|
|**Total funds at 31 March 2021**||£ 80,595||£ 121,087|
|||**––––––––**||**––––––––**|
9
**THE BAYSWATER INSTITUTE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## 1. **Accounting policies**
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 (FRS102) issued on 16 July 2014 (as updated through Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102), the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.
The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
The financial statements are prepared on a going concern basis under the historical convention (modified to include certain items at fair value). The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years unless otherwise stated.
## **Cashflow statement**
The Company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cashflow statement on the grounds that it is a small company.
## **Incoming resources**
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources expended**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
10
**THE BAYSWATER INSTITUTE**
## **NOTES TO THE FINANCIAL STATEMENTS** (Continued)
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is as set out in the notes to the financial statements.
## **Pension costs**
The company contributes to a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
## 2. **Incoming resources**
||**Unrest'd**|**Total**|**Total**|
|---|---|---|---|
||**Funds**|**Funds**|**Funds**|
||**2021**|**2021**|**2020**|
||**£**|**£**|**£**|
|**Voluntary Income**||||
|Donations and Grants|8,173|8,173|28,396|
||**–––––––**|**–––––––**|**–––––––**|
||8,173|8,173|28,396|
||**–––––––**|**–––––––**|**–––––––**|
Donations during the year were from Mulberry Trust £3,000. Grants were £5,173 from the Job Retention Scheme **.**
## **Activities for generating**
## **funds**
|IR - generated funds - activities|36,438|36,438|85,285|
|---|---|---|---|
||**–––––––**|**–––––––**|**–––––––**|
||36,438|36,438|85,285|
||**–––––––**|**–––––––**|**–––––––**|
|**Investment income**||||
|Investment income|558|558|995|
||**–––––––**|**–––––––**|**–––––––**|
||558|558|995|
||**–––––––**|**–––––––**|**–––––––**|
|3.
**Charitable activities**||||
||**2021**|**2021**|**2020**|
||**£**|**£**|**£**|
|Costs re Charitable activities|0||13,083|
|Staff costs|59,140||115,045|
|Associates' costs|15,546||38,958|
|Property costs|2,503||9,171|
|Office costs|6,708||8,269|
|Travel costs|0||5,148|
||**–––––––**|**–––––––**|**–––––––**|
||83,897|189,674||
|||**–––––––**|**–––––––**|
11
## **THE BAYSWATER INSTITUTE**
## **NOTES TO THE FINANCIAL STATEMENTS** (Continued)
## **FOR THE YEAR ENDED 31 MARCH 2021**
|4.
**Governance costs**
**2021**
**2021**
**£**
**£**
Independent Examiner
1,500
Trustees’ Travel costs
-
Admin cost 1
2
Accountancy
262
**–––––––**
1,764
**–––––––**
5.
**Staff costs**
The average number of persons employed by the company, including director, during the year was a
**2021**
Charitable Activities
2
Generating funds
1
Administration
1
Salaries
52,806
Social security
1,793
Pension costs
4,541
**–––––––**
59,140
**–––––––**|**2020**
**£**
1,750
970
(1)
1,427
**–––––––**
4,146
**–––––––**
s follows:
**2020**
2
2
1
98,595
4,650
11,800
**–––––––**
115,045
**–––––––**|
|---|---|
12
## **THE BAYSWATER INSTITUTE**
## **NOTES TO THE FINANCIAL STATEMENTS** (Continued)
## **FOR THE YEAR ENDED 31 MARCH 2021**
## 6. **Debtors and prepayments**
Amounts falling due within one year:
|Amounts falling due within one year:|||
|---|---|---|
||**2021**|**2020**|
||**£**|**£**|
|Prepayments and Accrued Income|1,500|
0|
|Funds Debtor|0|522|
|Project debtors|0|17,226|
||**––––––**|**–––––**|
||£ 1,500|£17,748|
||**––––––**|**––––––**|
## 7. **Creditors**
Amounts falling due within one year:-
||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|Sundry Creditors|0|3,346|
|Other Taxes & PAYE|1,071|779|
|Amount due to Pension Fund|1,433|475|
|VAT 2,505|1,733||
|Accruals And Deferred Income|3,777|1,750|
||**––––––**|**–––––**|
||£ 8,786|£ 8,083|
||**––––––**|**––––––**|
## 8. **Related party transactions**
There were no related party transactions to report.
13