Charity number: 1016178 LIMOGES CHARITABLE TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
LIMOGES CHARrrABLE TRUST CONTENTS Pag8 Reference and Administrative Detalls of the Charlty. Its Trustees and Advisers TN$tees' Report Independent Examlnerfs Report Slatement of Financial Activities Balance Sheet Notes to the Flnanclal Stalements 9-19 Appendlx l - Grants payabl6 19-22
LIMOGES CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2024 Trustees Judy Ann Dyke Andrew Richard Milner Martin Hamilton Dyke Charlty reglstered number 1016178 Princlpal offl Clo TYndalhhOdS Independent Examlners MHA Chartered Accountants & Statutory Auditors Rutland House 148 Edmund Street Birmingham 83 2FD Bankers TSB Bank Business Banking PO Box 1000 8x4 7SB Soll¢ltors Tda1[wo0dS 29 Woodboume Road Edgbaston Bimiingham 8178BY Investment Manager Quilter Chevtot Two Snowhill Bimiingham 84 6GA Page 1
LIMOGES CHARrrABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trustees present thair Annual Report together with the financial statements of the Charity for the year ended 5 April 2024. Objectives and activttles • ktlvltles undertaken to achleve obJe¢tlves The principal actiwty of the Charity is to hold the Trust and the income therefrom on trust to pay or apply trust monies to or for such charitable objects in such manner and in such proportions as the Trustees shall from time to time determine. In considerlng applications the Trustees are mindful of the guidance on Public Benefit published by th8 Charity Commission. The Trustees, intention making any donation to an organisation is that the funds wlll be applied for the benefit of the public. There Is no restriction on the applicants consider8d but ther8 is a preferenc8 for institutions and charilles operatlng locally. Achlevements and perforniance • Review of actlvitles During the year the Trustees agreed and granted 67 {2023: 59) donations totalling £153,67612023.' £91,231). Delails are given regarding grant paentS made in note 6 to the financial statements. The Trustees continue to grant new donations in line with the objects of the Charity. The ability of the Trust to mak8 thes8 donations is dependent on th8 perfonnance of the investment portfolio which is kepl under regular revlew. Flnancial review • Going concem After making appropriate enquiries, the Twslees have a reasonable expectation that the Charity has adequate resources lo continue in operational existence for the foreseeable future. For this reason. they continue to adopt the going concem basis in preparing the financial statements. Further details regarding the adoption of the going Concem basis can be found in the accountiro pdicie5. • Reserves pollcy Unrestricted funds are need8d: to prowde funds for donations and grants: and to cover administration costs without which the Charity coutd not functlon. The Trustees cOnser it prudent that unrestricted reserves should.. include suffient cash to cover donations, grants and support costs. and avoid the necessty of realising investments hekj for the Charitvs use. b) The level of reserves is monitored and reviewed by the Trustees on a regular basis. The unrestrtcted funds stand at £303,663 {2023'. £446,457) including the investment portfolio. The Trustees consider this to be sufficient to m8et the objectives abov8. Page 2
LIMOGES CHARrrABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED S APRIL 2024 • Materfal Inveslments policy The oblectlves are:_ to maintain adequate liquidily, and to maintain the security of any investments. b) • Risk management The Tru51ees believe Ihal the Charity is not exposed to significant external risk. Inlernal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure con5151enl quality of delivery for all operational aspects of the Charity. These procedures ara periodicalty reviewed to ensu that they still meet the needs of the Charity. • Perfomance Investment income generated from the inveslment porif01 d8creas8d on th8 pr8vious year from £66,865 to £61,193. The total income for the year was £61,206 compared to £67.365 in the previous year, Total expenditure for the year, including the donations referred to above totalled £189,929 (2023.. £135,832) resulting in a nel deficit for the year, before gainsnosses on the revaluation of investments, of £128,723 (2023.. £68,467). The funds at Ihe year end, represented primarily by investments, stood at £1.874,768 (2023.. £1,837,078) of which £1,571,104 (2023: £1,390,621) is restricted. Struclure, govemance and management • Constltutlon Limoges Charitable Trust is a charitable trust established on S August 1991 and registered as a charity on 11 January 1993. The Charity was established under a Deed of Trust Ihat established the objects and powers of the Trust. • Methods of appointment or election of Trustees New Trustees are appointed in accordance wilh the Deed of Trust. The current Trustees are shown on page l. • Organlsatlonal structurn and declslon4naklng pollcles The Charty is an unincorporated body registered with the Charity Commission. Regular Trust88 meetings review requests for grants and donations, decisions are made for expending trust monies and lo review the Trusfs investments and their performance. • Related party relatlonshlps As detailed in note 15, all of the Trustees hold senior wsitions with advisors to Ihe Charity as pemiitted by the constitution. Any benefit they derive from the Trust is purely incidental to their work. Page 3
LIMOGES CHARrrABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Plans for future perlods The Trust88s intend for future periods to continue the princlpal acbvity of the Charity namely to hold the trust and the income therefrom trust to pay or apply trust monies to or such charitable objects in such manner and in such proportions as the Trustees shall from time to time determine. Informed by past experience the Trustees might expect to receive additional capital amounts to be dealt with as above. ststament of Trustees, responsibilities The Trustees are responsible for preparing the Trustees, Raport and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Unlled Klngdom Generally Accepted Accounting Practi). The law applicable to charltles In England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources. including Its income and expenditure. for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistenuy, observe the methods and principles of the Charities SORP (FRS 102)., make judgements and accounting estimates that are reasonable and prudent; stste whether applicable UK Accounting Standards (FRS 102) have been folbwed, subject to any material departures disclosed and explained in the financial statements. and prepare Ihe financial statements on the going concem basls unless It Is Inappropriate to presume that the Charity will continue in business. The Twstees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charivs transactions and disclose wlth reasonable accuracy at any lime the financial posltion of the Charity and 8nable them to ensure that the flnancial stat8ments comply with the Charllles Act 2011, th8 Charily (Accounts and Reports} Regulations 2008 and the provisions of th8 Trust deed. They are also responsible for safeguarding the assets of th8 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 4
LIMOGES CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Approv8d by order of the members of the Board of Trustees and sign8d on their behalf by: Judy Ann D Trustee Andrew Richard Milner Trustee Martln Hamllton Trustee Date: Page 5
LIMOGES CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2024 Indèpendent ExamlnePs Report lo the Trustees of Llmoges Charitable Trust {'the Charity) I r8POrt to the Charity Trustees on my examination of the accounts of the Charity for the y8ar ended 5 April 2024. Responslbllltles and Basls of Report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with Ihe requirements of the Charities Act 2011 ('the 2011 ACV). I r8POrt In respecl of my examlnation of the Charitys aCcuntS carried out under section 145 of the 2011 Act and in carrying out my examinalion I have followed the applicable Directions given by the Charity Commission under section 145{5)(b) of the 2011 Act. Indepand8nt Examln8rfs Statamont Your attention is drawn to the fact thai the Charity has prepared the accounts in accordance with Accounting and Reporting by Charilies: 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) in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extanl regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have compl8t8d my 8xamlnation. I confimi that no matters have come to my attention in connection with the examination glving me cause to believe that in any materlal respect: accounkn'ng records were nol kept in respect of the Charity as required by section 130 of the 2011 Act. or the accounts do not accord with those records; or the accounts do not comply wrfth the appllcable requlrements conc8rnlng the form and content of accounts sel oul in the Charities (Accounts and Reports) Regulations 2008 other than any requlrement thal th8 accounts give a Tru8 and faif ¥i8w which is not a matter considered as part of an independent examlnation. 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 Ihe a¢UnIS to be 3¢hed. This report is made solely to the Charitys Trustees, as a body, in accordance vAth Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to th6 Charitys Trustees those matleTS l am required to state to them in an Independent Examinerfs Report and for no other purpose. To the fullest extent permttted by law, I do not aCpt or assume responsibility to anyone other than the Charity and the Charitys Trustees as a body. for my work or for this report. Eltzabeth Newell BA (Hons) FCA MHA Chartered Accounlants & Statutory AudlloTs Birmingham. United Kingdom 20 January 2025 MHA is the trading name of Maclntwe Hudson LLP. a limlted Ilabillty partnership in England and Wales (registered number OC312313). Page 6
LIMOGES CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Investments 13 48,251 13 61,193 500 12,942 66,865 Total income 48,264 12,942 61,206 67,365 Expenditure on: Raising funds Charitable activities 363 3.500 90 185,976 453 189,476 558 135,274 Total expendlture 3,863 186,066 189,929 135,832 Net incomel(expenditurel before net galnsl(losses> on investments Net gainsl(losses) on investments 44.401 136,082 (173,124) 30,330 (128,723) 166,412 168,467> (188.842) Net movement In funds 180,483 (142,794) 37,689 (257.309) Reconclllation ol funds: Total funds brought ford Net movement in funds 1,390,621 180.483 446,457 1142,794) 1.837,078 37,689 2,094.387 (257.309) Total funds carrled fonmard 1,571,104 303,663 1,874,767 1.837.078 The Statement of Financial Activities includes all gains and losses recognis8d in the year. The notes on pages 9 to 19 form part of these financial ststements. Page 7
LIMOGES CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 Note Flxed assets Investments 1,931,323 1.956.557 1,931.323 1,956,557 Current assets Debtors Cash at bank and in hand 10 30,085 38,762 56,151 19.174 68,847 75.325 Creditors: amounts falling due within one year (112,403) (106,470) Net current Ilabllltles (43,556) (31.145) Creditors.. amounts falling due after more Ihan one year 12 (13.000) (88,334> Total net assets 1,874,767 1,837,078 Charlty funds Restricted funds Unrestricted funds 13 13 1,571,104 303,663 1,390,621 446,457 Total funds 1,874,767 1.837,078 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Judy Ann byke Trustee Andrew Rlchard Mllner Trustee Martin Hamlllon Trustee Date.. The notes on pages g to 19 fomi part of these financial statements. Page 8
LIMOGES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 General information Limoges Charitable Trust is an unincorporated Charity registered with the Charity Commission in England and Wales. The Charitys registered number is 1016178. Its principal address is TYda10ods. 29 Woodbourne Road, Edgbaston. Birmingham. 817 8BY. Accounllng policies 2.1 Basls of preparatSon of flnan¢lal statements The financial slatements have been prepared In accordanc8 wllh the Charities SORP {FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Slandard applicable in the UK and Republlc of Ireland (FRS 102) and the Charities Act 2011. Limoges Charitable Trust meets the definition of a public benefll entity under FRS 102. Assets and liabilities are initialty recognlsed at hIstoral cost or transaction value unless otherwise stated in the relevant accounting policy. The financial statements are prepared in British PouThJ Sterfing {£), which is the functional and presentstional currency of the Charity. Monetary amounts in these fir)anch91 statements are rounded to the nearest £. 2.2 Income All income Is recognlsed once the Charlty has entlt18ment to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entiuemenl, the probability of receipt and Ihe ability to estimate with sufficient acctjracy Ihe amount receivable. Evidence of entitlement to a legacy exists when Ihe Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid wll and the death of the benefactor) and the execLJtor is satisfied that the property in question will not be required to satisfy claims in the estate. Re¢eipt of a legacy musl be recognised when it is probable that it will be received and the fair value of the amount receivablè. which will generalty be Ihe expecled cash amount to be distributed to the Charity, can be reliably measured. Income tax recoverable In relation to inv8Stment income is recognised at the time the investment income is receivable. Page 9
LIMOGES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounllng policies {contlnued) 2.3 Expondlturn Expenditure is recognised once there is a legal or constructive obligation to transfer 8conomlc benefit to a third party. it is probable thal a transfer of economic benefits will be required In settlement and the amount of the obligation can be maasured reliably. Support costs ar8 thos8 costs incurred direcdy in support of expenditure on the objects of the Charlty and include governance costs and other costs Incurred in connection with administration of the Charity and compliance with conslitutional arid statutory requirements. Expenditure on raisirrfJ funds are costs associated with the management of investments. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charitys objectives, as well as any associated support costs. Grants payable are charged in the year then the offer is made except in those cases where the offer is conditional. such grants being r8cognis8d as 8XP8nditure )thien the conditions attaching are fulfilled. Grants offered subject to conditions whlth have not been met at the year 8nd are noted as a commitment, but not accruad as exnditure. All expenditure is inclusive of irrecoverable VAT. 2A Interesl recelvable Interest on funds held on deposit is induded vthen receivable and the amount can be measured relkAbly by the Charity; this is nomially UFM)n notification of the interest paid or payable by the bank. 2.5 Investments Fixed asset invesbnents are a fonn of financial instrument and are Initially recognised at their transaction cost and subsequently measured at fair value al the balance sheet date, unless th8 value cannot be measured reliably in whlch case It Is measured al cosl less impairment. Investment gains and losses. whether realised or unrealised, are combined and presented as 'Gainsl(Losses) on investments, in Ihe Ststemenl of Financial Activilies. 2.6 Debtors Trade and other debtors are rogniSed at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid. 2.7 Cash at bank and In hand Cash al bank and in hand indudes cash and short-term highly liquid investments with a short maturity of Ihree months or less from the date of acquisition or opening of the deposit or similar account. Page 10
LIMOGES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies (continued) 2.8 Liabllities and provlslons Liabilitie5 are recognised when there 15 an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefrt will be r8quired in settlement. and the amount of the settlement can be eslimated reliably. Liabilities are recognised at th8 amount that the Charity anticipat8S it will pay to Settle the debt or the amount It has received as advanced payments for the goods or seNlc8s it must provide. Provisions are measured at the best estimate of the amounts required lo Sett the obligation. 2.9 Financial Instruments The Charity only has financk81 assets and financial liabilities of a kind that quallfy as basic financial instruments. Basic financial instruments are inttialty recogni5ed al transaction value and subsequently measured at their seltlement value. 2.10 Fund accountlng General funds are unr8Stricted funds whlch are available for use at the dlscretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in 8ccordance with specific restrictions imposed by donors or which have been raised by the Chaiity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is sel out in the notès to the financial statements. Investment income. gains and k)sses are allocated to the appropriate fund. 2.11 Critical accountlng estlmates and Judgements Estimates and judgements are continually evaluated and are based on hislorlcal experience and other factors, including expectatlons of fulure events that are believed to be reasonable under the circumstances. The Charity makes estimates and assumptions conceming the future. The resulting accounting estimates and assumptions will, by definition. seldom equal the related actual results. The estimates and assumptions that have a SnIfICant risk of causing a material adjustment to the carying amounts of assels and liabilities wihlin the next financial year are the valuation of investments. Page11
LIMOGES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Income from donations and legacles Restricled funds 2024 Total funds 2024 Total funds 2023 Donations 13 13 500 Total 2023 500 500 Investment Income Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tolal fund5 2023 Dividends - UK equities Bank interest 46.698 1.553 12.856 86 59,554 1,639 66,056 809 48,251 12,942 61,193 66.865 Total 2023 48,987 17.878 66,865 Investment management costs Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Investment management fees 363 453 558 Totsl 2023 509 49 558 Page 12
LIMOGES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Analysi5 of grants Grants to Institutions 2024 Total funds 2024 Total funds 2023 Grants 153,676 153,676 91,231 Total 2023 91.231 91,231 Details of the grants made can be found on th6 attached appendix. Analysis of expendlture by actlvlties Granl funding of activilies 2024 Support costs 2024 Total funds 2024 Total funds 2023 Charitable activilies 153,676 35.800 189,476 135,274 Total 2023 91,231 44,043 135,274 Analysls of support costs Total funds 2024 Tolal funds 2023 ActlvitSes 2024 Tynda[0odS fees Accountancy fees Bank charges Independent examinalion fees 27,266 8.534 27,266 8,534 31,922 4,878 43 7,200 35,800 35,800 44,043 Page 13
LIMOGES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Staff costs The Charity has no employees. No employee received remuneration amounting to more than £60,000 in either year. Flxèd asset investments Llstod investments Cosl or valuatlon At 6 April 2023 Additions Disposals Revaluations 1,956,557 12,512 1204.158) 166,412 At 5 April 2024 1,931,323 10. Debtors 2024 2023 Due wlthln one year Amounts held by investment manager 30,085 56,151 30,085 56.151 Page 14
LIMOGES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 11. Creditors: Amounts falling due withln one year 2024 2023 Other credltors Accruals and deferred Income Grants accrued - institutional 505 11,564 100,334 16.637 89,833 112,403 106,470 12. Credltors.. Amounts falling due after more than one year 2024 2023 Accrued grants payable to institutions 13.000 88,334 Page 15
LIMOGES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 13. Statement of funds Statement of funds - currenl year Balance at 6 Aprll 2023 Galnsl Balanc8 at 5 (Losses) Aprll 2024 Income Expenditure Unrestrlcted lunds General Funds 446.457 12,942 (186,066) 30,330 303,663 Restrlcted funds CT Restrlcted Fund LPDK Restricled Fund SWG Reslricled Fund EMI Restricted Fund Jane & Peler How Charitable Trust 213,335 8,008 197,673 971,105 6,510 16.531) 18,917 232,231 8,008 219,207 1,111,145 6,263 35,478 {3.043) 5,711 18,314 98.851 13 513 1,390,621 48.264 (3,863) 136,082 1,571,104 Total of funds 1,837,078 61,206 (189,929) 166,412 1,874,767 Page 16
LIMOGES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 13. Statement of funds (continued> Unrestricted funds Charitsble funds are unrestricled funds which are available for use at the discretion of Ihe Truslees in furtherance of the general objectNes of the Charty and which have not been designated for other purposes. Reslrlcted funds Restricted funds are held by the Charity at th8 absolute discretlon of the Twstees who are mindful however of any expressed wlshes of the named donor thus the separation into named RestriGled Funds as follows.. CT Restricted Fund These funds have been left to enable the Charity to make grants lowards the care or recovery of "persons suffering from various forms of irrational behaviour, treatment not onty to address subslance abuse and alcohol dependency, but a150 olher psychological issues such as anxiety, post traumatic stress disorder, depression and eating disorders among others.. 11 is a150 indicated thal particular account should be given to any applications that relate lo the use of sport for such purpose. LPDK Restricted Fund These funds have been left to the Charity to support Ihe West Mldlands Police Benevolent Fund in consultatlon with their Treasurer. SWG Restricted Fund Thes8 funds have been left lo the Charity wth the request that the Trustees bear In mlnd the wish that such funds be used to benefit HollWr88s Animal Rescue Trust, Cramar Cal Rescue and the A&heimer's Society. EMI Restricted Fund Guidelines to the Trust88s are that the fund be pald: for the benefit of Yhe deaf to explo the possibility of funding a post for an individual to maintain and SUP8rvise hearing aids for the elderley in residential or nursing homes. to the Psychiaty Trust Camberwell" to the Departmenl of Psychiatry University of Birmingham: and to Qu8ens University of Belfast to support their work In relation to mental health. Jane & Peter How Charitable Trust These funds ar8 to be used to make grants to companies. bodies or Tfusts established for charttable purposes at the absolute discretion of the Trustees. These would include, but are nol limiled to, local charities benefitting young people and music - for example CBSO. Elmhurst Ballet Schtxjl, B;Music and Gtyndeboume Youth Opera. Page 17
LIMOGES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 13. Statement of funds (continued) stst8m8nt of funds - prior year Balance at 1 April 2022 Gainsl Balance at (Losses) S April 2023 Income Expenditure Unrastrlcted funds General Funds 606.495 17,878 (126.3231 (51,593) 446.457 Restricted fund8 CT Restricted Fund LPDK Restricted Fund SWG Restricted Fund EMI Restricted Fund Jane & Peter How Charitable Trust 228,511 8,008 207,856 1,043,517 6,656 (3,026) (18,806) 213,335 8,008 197,673 971,105 5.801 36,530 (99) (15,885) (6,384) {102,558) 500 500 1,487,892 49,487 (9,509) (137,249) 1,390,621 Total of funds 2,094,387 67,365 (135,832) (188,842) 1,837,078 14. Analysls of net assets between lund$ Analysls of net assets between funds - current perfod Restrlcted Unrestrlcled funds funds 2024 2024 Total funds 2024 Fixed asset inveslments Current assets 1,604,075 47,362 (80.333) 327.248 1,931,323 21,485 68,847 (32,070) (112,403) (13,000) (13,000) Creditors due wthin one year Creditors due in more than one y8ar Totsl 1.571.104 303,663 1,874,767 Page 18
LIMOGES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 14. Analy31s of net assets between funds (continued) Analysis of net assets between funds - prior perlod ReStrted Unrestricled funds funds 2023 2023 Total funds 2023 Flxed asset investments Current assets Creditors due within one year Creditors due in more than one year 1,484.019 73.269 (83.333) (83,334) 472.538 1,956,557 2,056 75,325 (23,137) (106,470) (5,000) (88,334) Total 1,390,621 446,457 1,837,078 15. Related party transacllons During the year Tyndallwoods. a firm in which two of the Trustees are directors, recelved fees of £27,266 (2023.. £31,922) for management of the Twst; and Quilter Cheviot, of which another Truste8 is a director, rec8ived investment managernenl fees of £453 (2023.. £558). These payments are permitted by the Trust Deed. Trustees do not receive expenses, remuneration or benefits in kind other than those listed above. Page 19