CHARITY REGISTRATION NUMBER: 1014869
E C GRAHAM BELFORD CHARITABLE SETTLEMENT
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
David Allen
Chartered Accountants Dalmar House Barras Lane Estate Dalston Carlisle CA5 7NY
E C GRAHAM BELFORD CHARITABLE SETTLEMENT
CONTENTS
| Reference and administrative details | 1 |
|---|---|
| Trustees' report | 2 to 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 to 18 |
E C GRAHAM BELFORD CHARITABLE SETTLEMENT
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees
Mr A I Thompson Mrs A Burn Mr C I J Parker (appointed 24 January 2024)
Charity Registration Number Principal Office
Independent examiner
Solicitors
Investment advisers
1014869 22 Baker Street London W1U 3BW Alison Welton FCA Dalmar House Barras Lane Estate Dalston Carlisle CA5 7NY Forsters LLP 22 Baker Street London W1U 3BW Brewin Dolphin Ltd Time Central Gallowgate Newcastle upon Tyne NE1 4SR Rothschild & Co Bank International Limited St Julian's Court St Julian's Avenue St Peter Port Guernsey GY1 3BP
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E C GRAHAM BELFORD CHARITABLE SETTLEMENT
TRUSTEES' REPORT
The trustees present the annual report together with the financial statements of the charity for the year ended 5 April 2024.
OBJECTIVES AND ACTIVITIES
The objective of the charity is to make donations for charitable purposes.
The trust fund is held on such trusts for the benefit of such charity or charities as the trustees shall appoint in writing and in default of and subject to any such appointment to pay or apply the net income of the fund to or for such charitable purposes as the trustees may from time to time determine.
The trustees' policy is, where possible, to make donations to smaller charities based in the Northumberland area and Northumberland branches of larger charities. The trustees consider charities which have approached them, which have come to their notice and to which they have previously made donations.
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
ACHIEVEMENTS AND PERFORMANCE
During the year donations totalling £92,390 (2023 - £97,000) were made to charities and for charitable purposes in the Northumberland area.
Income from UK and non-UK quoted investments was higher than in 2023 by £16.543. Investment management costs increased during the year along with other support costs. Overall, expenditure in the year decreased by £1,461.
Overall, there was net expenditure before net gains on investments of £88,925 (2023 - £107,473).
FINANCIAL REVIEW
The main asset of the charity is a portfolio of investments that is managed by Rothschild & Co. The portfolio as at 5 April 2024 was valued at £9,556,561 (2023 - £8,612,007). It produced £99,850 of income (2023 - £80,185) during the year.
The other asset of the charity is a portfolio of investments managed by Brewin Dolphin. The portfolio as at 5 April 2024 was valued at £824,450 (2023 - £709,597). It produced income of £13,589 (2023 - £16,711) during the year.
The charity has also retained a contingent interest in a piece of land that was part of the Belford Estate.
The funds held at the end of the year are £10,537,936 (2023 - £9,542,149).
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E C GRAHAM BELFORD CHARITABLE SETTLEMENT
TRUSTEES' REPORT (CONTINUED)
As the charity carries out no direct charitable activities and does not generally make commitments from year to year to future giving, there is no need to retain reserves for these purposes. However, the trustees aim to maintain reserves at a level which equates to approximately one year of expenditure. The trustees consider that this level will provide sufficient funds to respond to donation applications and to cover administration and support costs.
The trustees have the investment powers of an absolute owner beneficially entitled.
The trustees wish to achieve a balance between income and capital growth with the portfolios held with Rothschild & Co and Brewin Dolphin and the investment managers are permitted to invest as they see fit in accordance with their respective mandates.
STRUCTURE, GOVERNANCE AND MANAGEMENT
E C Graham Belford Charitable Settlement was constituted by a Deed of Settlement dated 17 July 1991 as varied by a Deed of Variation made 29 September 1992. The charity is unincorporated.
The charity is registered with the Charity Commission under number 1014869. The principal office of the charity is 22 Baker Street, London, W1U 3BW.
Following the death of the settlor on 30 April 1996, the power of appointment of new trustees is vested in the present trustees.
The trustees give their time freely and no trustee remuneration was paid in the year.
The charity has no voluntary, seconded or paid staff.
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E C GRAHAM BELFORD CHARITABLE SETTLEMENT
TRUSTEES' REPORT (CONTINUED)
The trustees have considered the major risks to which the charity might be exposed. The main risk is of loss on investments from which the charity funds its activities. The trustees consider that the appointment of professional and reputable investment managers to manage the charity's portfolio of investments is the best way of ensuring the safe custody and efficient management of these assets.
FINANCIAL INSTRUMENTS
The charity’s activities expose it to a number of financial risks including credit risk and cash flow risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees. The charity does not use derivative financial instruments for speculative purposes.
The charity’s activities expose it to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts to hedge these exposures. Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.
The charity’s principal financial assets are bank balances and cash and investments. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
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E C GRAHAM BELFORD CHARITABLE SETTLEMENT
TRUSTEES' REPORT (CONTINUED)
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales 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 charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the trust deed. The trustees 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.
The annual report was approved by the trustees of the charity on 15 November 2024 and signed on its behalf by:
......................................... Mr A I Thompson Trustee
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E C GRAHAM BELFORD CHARITABLE SETTLEMENT
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF E C GRAHAM BELFORD CHARITABLE SETTLEMENT
I report to the charity trustees on my examination of the accounts of E C Graham Belford Charitable Settlement (the charity) for the year ended 5 April 2024 which are set out on pages 7 to 18.
Responsibilities and basis of report
As the charity trustees of E C Graham Belford Charitable Settlement you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the E C Graham Belford Charitable Settlement's accounts 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:
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accounting records were not kept in respect of E C Graham Belford Charitable Settlement as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts 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.
...................................... Alison Welton FCA Independent Examiner
David Allen Chartered Accountants Dalmar House Barras Lane Estate Dalston Carlisle CA5 7NY
15 November 2024
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E C GRAHAM BELFORD CHARITABLE SETTLEMENT
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024
| Total | ||||
|---|---|---|---|---|
| Unrestricted | 2024 | |||
| Note | £ | £ | ||
| Income from: | ||||
| Investment income | 2 | 114,492 | 114,492 | |
| Expenditure on: | ||||
| Raising funds | 3 | (83,332) | (83,332) | |
| Charitable activities | 4 | (120,085) | (120,085) | |
| Total expenditure | (203,417) | (203,417) | ||
| Gains on investment assets | 11 | 1,084,712 | 1,084,712 | |
| Net movement in funds | 995,787 | 995,787 | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 9,542,149 | 9,542,149 | ||
| Total funds carried forward | 14 | 10,537,936 | 10,537,936 | |
| Total | ||||
| Unrestricted | 2023 | |||
| Note | £ | £ | ||
| Income from: | ||||
| Investment income | 2 | 97,405 | 97,405 | |
| Expenditure on: | ||||
| Raising funds | 3 | (80,954) | (80,954) | |
| Charitable activities | 4 | (123,924) | (123,924) | |
| Total expenditure | (204,878) | (204,878) | ||
| Losses on investment assets | 11 | (659,070) | (659,070) | |
| Net movement in funds | (766,543) | (766,543) | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 10,308,692 | 10,308,692 | ||
| Total funds carried forward | 14 | 9,542,149 | 9,542,149 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 and 2023 is shown in note 14.
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E C GRAHAM BELFORD CHARITABLE SETTLEMENT
BALANCE SHEET AS AT 5 APRIL 2024
| 2024 | 2024 | 2023 | 2023 | ||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixed assets | |||||
| Investments | 11 | 10,381,011 | 9,321,604 | ||
| Current assets | |||||
| Cash at bank and in hand | 164,795 | 227,896 | |||
| Creditors: Amounts | |||||
| falling due within one | |||||
| year | 12 | (7,870) | (7,351) | ||
| Net current assets | 156,925 | 220,545 | |||
| Net assets | 10,537,936 | 9,542,149 | |||
| Funds of the charity: | |||||
| Unrestricted income | |||||
| funds | |||||
| Unrestricted | 10,537,936 | 9,542,149 | |||
| Total funds | 14 | 10,537,936 | 9,542,149 |
The financial statements on pages 7 to 18 were approved by the trustees, and authorised for issue on 15 November 2024 and signed on their behalf by:
......................................... Mr A I Thompson Trustee
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
E C GRAHAM BELFORD CHARITABLE SETTLEMENT
1 ACCOUNTING POLICIES
Statement of compliance
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 (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
E C Graham Belford Charitable Settlement meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
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.
Income
All income is 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.
Investment income is accounted for in the period in which the charity is entitled to receipt.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
These are costs incurred in raising funds, including the management of investments.
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E C GRAHAM BELFORD CHARITABLE SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)
1 ACCOUNTING POLICIES (continued)
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including the preparation and examination of the statutory accounts, the costs of trustees meetings and costs of any legal advice to the trustees. These costs for both financial periods are recognised as support costs within costs of charitable activities.
Taxation
The charity is a registered charity and as such is exempt from Income Tax and Corporation Tax under the provision of the Income and Corporation Taxes Act 1988.
Fixed asset investments
Fixed asset investments are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value or their subsequent cost and are charged or credited to the statement of financial activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the statement of financial activities based on the market value at the year end.
Foreign exchange
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the statement of financial activities in the period in which they arise.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
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E C GRAHAM BELFORD CHARITABLE SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)
1 ACCOUNTING POLICIES (continued)
Financial instruments
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
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E C GRAHAM BELFORD CHARITABLE SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)
2 INVESTMENT INCOME
| Unrestricted | |||||
|---|---|---|---|---|---|
| Total | Total | ||||
| General | 2024 | 2023 | |||
| £ | £ | £ | |||
| Income from listed investments | 113,439 | 113,439 | 96,896 | ||
| Bank interest receivable | 1,053 | 1,053 | 509 | ||
| 114,492 | 114,492 | 97,405 |
3 EXPENDITURE ON RAISING FUNDS
a) Investment management costs
| Unrestricted | |||||||
|---|---|---|---|---|---|---|---|
| Total | Total | ||||||
| General | 2024 | 2023 | |||||
| £ | £ | £ | |||||
| Investment | management | fees | 83,332 | 83,332 | 80,954 | ||
| 83,332 | 83,332 | 80,954 |
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E C GRAHAM BELFORD CHARITABLE SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)
4 EXPENDITURE ON CHARITABLE ACTIVITIES
| Unrestricted | ||||||
|---|---|---|---|---|---|---|
| funds | Total | Total | ||||
| General | 2024 | 2023 | ||||
| Note | £ | £ | £ | |||
| Grant funding of activities | 92,390 | 92,390 | 97,000 | |||
| Governance costs | 5 | 27,695 | 27,695 | 26,924 | ||
| 120,085 | 120,085 | 123,924 | ||||
| Unrestricted | ||||||
| funds | Total | Total | ||||
| General | 2024 | 2023 | ||||
| Charitable donations | £ | £ | £ | |||
| Hexham Youth Initiative | 16,000 | 16,000 | 16,000 | |||
| Haltwhistle Youth Club (Young and Sweet) | 25,000 | 25,000 | 25,000 | |||
| Allendale Youth Project | 17,160 | 17,160 | 16,600 | |||
| Cramlington Voluntary Youth Project | 10,000 | 10,000 | 10,000 | |||
| Pelton Youth Project | 5,000 | 5,000 | - | |||
| Rape Crisis Tyneside and North | - | - | 5,000 | |||
| Gateway into the Community | - | - | 5,000 | |||
| Berwick Educational Association | - | - | 2,000 | |||
| Corbridge Youth Initiative | 11,730 | 11,730 | 11,400 | |||
| Morpeth Mental Health Group | - | - | 3,000 | |||
| Hexham Football Club | - | - | 3,000 | |||
| Junction 42 | 2,500 | 2,500 | - | |||
| Fostered and Adopted Children's Education | and | |||||
| Therapy | 5,000 | 5,000 | - | |||
| 92,390 | 92,390 | 97,000 |
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E C GRAHAM BELFORD CHARITABLE SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)
4 EXPENDITURE ON CHARITABLE ACTIVITIES (continued)
| Activity | Activity | |||||||
|---|---|---|---|---|---|---|---|---|
| undertaken | support | |||||||
| directly | costs | 2024 | 2023 | |||||
| £ | £ | £ | £ | |||||
| Charitable | donations | 92,390 | 27,695 | 120,085 | 123,924 |
£120,085 (2023 - £123,924) of the above expenditure was attributable to unrestricted funds and £Nil (2023 - £Nil) to restricted funds.
5 ANALYSIS OF GOVERNANCE AND SUPPORT COSTS
Support costs allocated to charitable activities
| Governance | Total | Total | ||||
|---|---|---|---|---|---|---|
| costs | 2024 | 2023 | ||||
| £ | £ | £ | ||||
| Governance | costs | 27,695 | 27,695 | 26,924 |
Governance costs
| Unrestricted | ||||||
|---|---|---|---|---|---|---|
| funds | Total | Total | ||||
| General | 2024 | 2023 | ||||
| £ | £ | £ | ||||
| Independent examiner fees | ||||||
| Examination of the financial statements | 800 | 800 | 780 | |||
| Other fees paid to examiners | 4,660 | 4,660 | 5,046 | |||
| Legal fees | 22,235 | 22,235 | 21,098 | |||
| 27,695 | 27,695 | 26,924 | ||||
| 6 NET INCOMING/OUTGOING RESOURCES | ||||||
| Net outgoing resources for the year include: | ||||||
| 2024 | 2023 | |||||
| £ | £ | |||||
| Examination of the financial statements | 800 | 780 | ||||
| Other fees paid to examiners | 4,660 | 5,046 |
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E C GRAHAM BELFORD CHARITABLE SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)
7 TRUSTEES REMUNERATION AND EXPENSES
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
8 STAFF COSTS
The average head count of employees during the year was Nil (2023 - Nil)
No employee received emoluments of more than £60,000 during the year
9 INDEPENDENT EXAMINER'S REMUNERATION
| 9 INDEPENDENT EXAMINER'S REMUNERATION | |||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Examination of the financial statements | 800 | 780 | |
| Other fees to examiners | |||
| All other services | 4,660 | 5,046 |
10TAXATION
The charity is a registered charity and is therefore exempt from taxation.
11FIXED ASSET INVESTMENTS
| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | |||
| Other | investments | 10,381,011 | 9,321,604 |
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E C GRAHAM BELFORD CHARITABLE SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)
11FIXED ASSET INVESTMENTS (continued)
Other investments
| Other investments | |||
|---|---|---|---|
| Listed | |||
| investments | Total | ||
| £ | £ | ||
| Cost or Valuation | |||
| At 6 April 2023 | 9,321,604 | 9,321,604 | |
| Revaluation | 1,102,562 | 1,102,562 | |
| Additions | 719,469 | 719,469 | |
| Disposals | (762,624) | (762,624) | |
| At 5 April 2024 | 10,381,011 | 10,381,011 | |
| Net book value | |||
| At 5 April 2024 | 10,381,011 | 10,381,011 | |
| At 5 April 2023 | 9,321,604 | 9,321,604 |
Valuations were prepared on the basis of the middle market price at the close of business on the valuation date. For certain securities, the price may be on a different basis, for example last trade or bid price.
The total unrealised gains for the year are £1,102,562 (2023 - losses of £323,023) and the total realised losses are £17,850 (2023 - £336,047), resulting in a net gain on investments of £1,084,712 (2023 - net loss of £659,070).
The charity has entered into a number of foreign exchange forward contracts, at the year end these had a market value gain of £112,006 (2023 - £30,747).
12CREDITORS: amounts falling due within one year
| 12CREDITORS: amounts falling due within one year | |||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors | - | 1,596 | |
| Accruals | 7,870 | 5,755 | |
| 7,870 | 7,351 |
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E C GRAHAM BELFORD CHARITABLE SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)
13CONTINGENT ASSETS
The trust has retained an interest in a piece of land that was part of the Belford Estate. If the developers had obtained planning permission on this land before 28 February 2010 an additional payment of £500,000 would have become payable. If planning permission is obtained in future the sum of £500,000 is increased subject to any increase in the Retail Price Index since 28 February 2010. The longstop date for the option is 29 February 2088.
14FUNDS
| 14FUNDS | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Other | |||||||||||
| Balance at | recognised | Balance at | |||||||||
| 6 April | gains/ | 5 April | |||||||||
| 2023 | Income | Expenditure (losses) |
2024 | ||||||||
| £ | £ | £ | £ | £ | |||||||
| Unrestricted funds | |||||||||||
| General | 9,542,149 | 114,492 | (203,417) | 1,084,712 | 10,537,936 | ||||||
| Other | |||||||||||
| Balance at | recognised | Balance at | |||||||||
| 6 April | gains/ | 5 April | |||||||||
| 2022 | Income | Expenditure (losses) |
2023 | ||||||||
| £ | £ | £ | £ | £ | |||||||
| Unrestricted funds | |||||||||||
| General | 10,308,692 | 97,405 | (204,878) | (659,070) | 9,542,149 | ||||||
| **15ANALYSIS OF NET ** | **ASSETS BETWEEN ** | FUNDS | |||||||||
| Unrestricted | Total funds | ||||||||||
| funds | at 5 April | ||||||||||
| General | 2024 | ||||||||||
| £ | £ | ||||||||||
| Fixed asset investments | 10,381,011 | 10,381,011 | |||||||||
| Current assets | 164,795 | 164,795 | |||||||||
| Current liabilities | (7,870) | (7,870) | |||||||||
| Total net assets | 10,537,936 | 10,537,936 |
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E C GRAHAM BELFORD CHARITABLE SETTLEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)
15ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued)
| 15ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued) | |||
|---|---|---|---|
| Unrestricted | Total funds | ||
| funds | at 5 April | ||
| General | 2023 | ||
| £ | £ | ||
| Fixed asset investments | 9,321,604 | 9,321,604 | |
| Current assets | 227,896 | 227,896 | |
| Current liabilities | (7,351) | (7,351) | |
| Total net assets | 9,542,149 | 9,542,149 |
16RELATED PARTY TRANSACTIONS
There were no related party transactions in the year.
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