# **ASSOCIATION OF SHOW AND AGRICULTURAL ORGANISATIONS** ## **TRUSTEES’ REPORT & FINANCIAL STATEMENTS** ## **31 DECEMBER 2025** **Company registration Number 02758883 Charity Number 1023932** **ASSOCIATION OF SHOW AND AGRICULTURAL ORGANISATIONS** ## **FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2025** |**Contents**|**Pages**| |---|---| |Reference & Administrative Information|**1**| |Chairman’s Report|**2**| |Trustees’ Annual Report|**3 - 5**| |Independent Examiner’s Report|**6**| |Statement of Financial Activities|**7**| |Balance Sheet|**8**| |Notes to the Financial Statements|**9 - 15**| **ASSOCIATION OF SHOW AND AGRICULTURAL ORGANISATIONS REFERENCE & ADMINISTRATIVE INFORMATION** ## **YEAR ENDED 31 DECEMBER 2025** |**Patron**|HRH The Duchess of Edinburgh GCVO| |---|---| |**Trustees**|Mrs A Baylis| ||Mrs C Ince| ||Mrs C Knipe| ||Mr D Dooley (Chair)| ||Mr D Tennant| ||Mr D Tite| ||Mrs L Moore| ||Mrs M R Jones| ||Mr M Stoddart| ||Mr R Heath| ||Mrs S Moreland| |**Secretary**|Mr P J Hooper, OBE JP (Resigned 31 December 2025)| ||Mrs J C Payne (Appointed 1 January 2026)| |**Company registered**|02758883| |**number**|| |**Charity registration**|1023932| |**number**|| |**Registered office**|Cooper House| ||Lower Charlton Estate| ||Shepton Mallet| ||Somerset| ||BA4 5QE| |**Independent Examiner**|Joshua Kingston BSc (Hons) FCA| ||Burton Sweet Limited| ||The Clock Tower| ||5 Farleigh Court| ||Old Weston Road| ||Flax Bourton| ||Bristol| ||BS48 1UR| |**Bankers**|Lloyds Bank PLC| ||24-26 High Street| ||Wells| ||Somerset| ||BA5 2SJ| 1 **ASSOCIATION OF SHOW AND AGRICULTURAL ORGANISATIONS** ## **CHAIRMAN’S REPORT** ## **YEAR ENDED 31 DECEMBER 2025** The ASAO experienced another busy and transformative year in 2025. Our Learning Day at Newark was well attended and featured engaging discussions on all aspects of stewarding and competitive classes, along with an insightful presentation from DEFRA. The AGM was incorporated into the day’s programme, during which Alison Baylis, Richard Heath, Mared Jones, and David Tite were re-elected to Council. As announced at the Centenary Conference, Paul Hooper retired as Secretary at the end of 2025 after 30 years of dedicated service. Following a successful recruitment process earlier in the year, Jenna Payne was appointed and began a transition period with Paul Hooper and Pam Clements (ASAO Membership Administrator) in mid-July. This handover ensured Jenna was fully prepared for the role and responsibilities were transferred smoothly. One of Jenna’s first major tasks was the launch of the new CRM System for company operations. During the autumn, we engaged with key stakeholder groups including DEFRA, Phonographic Performance Ltd, the Valuation Office, the Home Office, and the Department for Culture, Media and Sport (DCMS). We also renewed our agreements with the London International Horse Show, the British Show Pony Society, and the British Show Horse Association for the next three years, continuing these successful partnerships. Our annual conference took place at The Pavilions of Harrogate and The Cedar Court Hotel, attracting a record attendance. Our Patron joined virtually for the Education Debate, and the event was widely regarded as a great success. The Friday night Annual Dinner celebrated Paul Hooper’s remarkable tenure as ASAO Secretary, featuring a speech by Nick Brooks Ward and a surprise performance by The Harrogate Band. With 168 attendees—the largest in our history—the evening reflected the deep respect and appreciation for Paul Hooper OBE’s service to the Association. This is my final annual report as I conclude my term as Chairman in February. I would like to take this opportunity to thank my colleagues on Council, our Membership, and Paul Hooper OBE for their support throughout my tenure. I wish Corrie Ince every success as the next ASAO Chairman. . DJ Dooley Chairman 2 **ASSOCIATION OF SHOW AND AGRICULTURAL ORGANISATIONS** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 31 DECEMBER 2025** The Trustees present their report and accounts for the year ended 31 December 2025. 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 Association’s governing document, the Companies Act 2006 and “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)”. ## **Objectives and activities** The charitable objective and principal activity of the Association is to work towards the improvement of Agriculture, Horticulture and Forestry either through Shows or other Charitable means. ## **Public Benefit** The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities. ## **Achievements and Performance** Please see the Chairman’s Report for the achievements and performance for the year to December 2025. ## **Financial Review** Total income of £159,611 was received during the year, (2024: £143,130), an increase of £16,481. After expenses of £157,892 (2024: £114,671), and an unrealised loss on investments of £5,282 (2024: gain of £2,568), the Association made a deficit for the period of £3,563 (2024: £31,027 surplus). This is a decrease of £34,590 when compared to 2024. Expenditure was significantly higher than the previous year, primarily due to exceptional costs incurred during a six-month overlap and handover period, during which two members of staff were employed rather than the usual one. This resulted in additional salary, expense and equipment costs during the year. Fund balances at the period end amounted to £141,177 (2024: £144,740). ## **Reserves Policy** The reserves of the charity are those that are freely available to be spent in pursuing the charity’s objectives. The free reserves (unrestricted, uncommitted funds) at the year-end were £141,177 (2024: £144,740). The trustees consider it necessary for the charity to hold reserves to protect against fluctuations in income and expenditure. At present unrestricted reserves represent approximately 11 months expected recurring unrestricted expenditure (2024: 15 months). The target range of unrestricted reserves of the charity is 24-30 months. Currently the level of reserves as at the year end is below the policy which has been mainly due to increased hours of new CEO, the addition of the new CRM and increase of general running costs. Over the next financial year, the Trustees hope to increase the membership fees back to their original level after a reduction due to the Covid-19 pandemic, which will help rebuild the level of reserves in line with the policy. 3 **ASSOCIATION OF SHOW AND AGRICULTURAL ORGANISATIONS** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 31 DECEMBER 2025** The association has limited resources, which have been retained and built up over the years. The Association feels that the amount is required for easy access and needs to be secure for the following reasons: - Any projected loss in the year; - A Provision in the event of another ‘’Pandemic’’, “foot and mouth” year (or similar); - Website – update and review needs to be more regular than the current 5 year review; - PR spend was to be reviewed regularly and that this should include the Secretary’s involvement with Breed Societies and Government bodies. - CRM System and ongoing admin support system. The savings and other accounts used for the retention of the money is periodically reviewed. Currently these are held in a COIF Charities Investment Fund. **Structure, governance, and management** ## **Constitution** The Association is a charitable company limited by guarantee incorporated on the 26 October 1992 and registered as a charity on 20 July 1993. The guarantors are the members to the extent of £1 each. The governing documents of the charity are the memorandum and articles of association (as amended 1 November 2017 and review by Covid in December 2021). The Council as part of the business plan review is currently reviewing the Memorandum and Articles of Association and this should be complete in 2024. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature were: Mrs A Baylis Mrs C Ince Mrs C Knipe Mr D Dooley (Chair) Mr D Tennant Mr D Tite Mrs L Moore Mrs M R Jones Mr M Stoddart Mr R Heath Mrs S Moreland ## **Organisation** Only registered charities are eligible to become full members. The trustees (elected members of Council) are representative individuals of the members and are elected by the members from amongst themselves. Associate members are those that are not registered charities. These associate members have no liability and representative individuals are not eligible to become trustees of the charity. ## **Risk Management** The trustees have taken steps to identify the major strategic and operational risks which the charity faces. Systems have been established to enable regular monitoring of those risks so that their impact can be lessened. 4 ## **Statement of Trustees Responsibilities** The trustees (who are also directors of Association of Show and Agricultural Organisations for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the strategic report and directors’ 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 Accepted Accounting Practice). Company law 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 charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: - there is no relevant audit information of which the charitable company’s auditors are unaware; and - the trustees have taken all steps that they ought to make themselves aware of that information. ## **Appreciation** The Association wishes to express thanks to many outside bodies and our colleagues who have all freely given their time and expertise to ensure that furtherance of the Association. The Trustee’s Report was approved by the Board of Trustees on …………………… and signed on their behalf by: **………………………………………………………. ………………………………………………………… Mrs C Ince (Vice Chairman) Mr D Dooley (Chair) Trustee Trustee** 5 **ASSOCIATION OF SHOW AND AGRICULTURAL ORGANISATIONS** ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF ASSOCIATION OF SHOW AND AGRICULTURAL ORGANISATIONS** ## **YEAR ENDED 31 DECEMBER 2025** ## **Independent examiner’s report to the trustees of Association of Show and Agricultural Organisations (‘the Company’)** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025. - . ## **Responsibilities and basis of report** As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **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: - accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or - the accounts do not accord with those records; or - 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 - 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 (FRS 102). 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. Joshua Kingston BSc (Hons) FCA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR Date: ………………………….. 6 ## **ASSOCIATION OF SHOW AND AGRICULTURAL ORGANISATIONS** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)** ## **YEAR ENDED 31 DECEMBER 2025** |**Note**
**Income from:**
Donations and legacies
**2**
Charitable activities
**3**
Other trading activities
**4**
Investments
**5**
**Total income**
**Expenditure on:**
Charitable activities
**6**
**Total expenditure**
Net gains/(losses) on investments
**10**
**Net income/(expenditure)**
**and net movement in funds**
**7**
**Total funds at start of year**
**14**
**Total funds at end of year**
**14**|**Total Funds**
Total Funds
**2025**
2024
**£**
£
Restated
3,600
3,993
149,403
133,332
2,500
2,500
4,108
3,305
159,611
143,130
157,892
114,671
157,892
114,671
(5,282)
2,568
(3,563)
31,027
144,740
113,713
141,177
144,740| |---|---| The Charity has no recognised gains or losses other than the results for the year as set out above. All of the activities of the charity are classed as continuing. All the financial activities of the charity in the current and prior year is within unrestricted funds. **The notes on pages 9 to 15 form part of these financial statements** 7 ## **ASSOCIATION OF SHOW AND AGRICULTURAL ORGANISATIONS** ## **BALANCE SHEET** **----- Start of picture text -----**
AS AT 31 DECEMBER 2025 Company number: 02758883
2025 2024
Note £ £
Fixed assets
Investments 10 100,273 105,555
Current assets
Debtors 11 8,987 83,120
Cash at bank and in hand 39,222 32,258
48,209 115,378
Liabilities
Creditors : amounts falling
due within one year 12 (7,305) (76,193)
Net current assets 40,904 39,185
Total assets less current liabilities 141,177 144,740
Total Assets 141,177 144,740
Funds
Unrestricted funds
General funds 15 141,177 144,740
Total funds 141,177 144,740
**----- End of picture text -----**
For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Trustees responsibilities: - The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provision applicable to companies subject to the small companies regime. These financial statements were approved by the Trustees on …............................. and are signed on their behalf by: Mr D Dooley Mrs C Ince Chair of Council Vice Chairman **The notes on pages 9 to 15 form part of these financial statements** 8 **ASSOCIATION OF SHOW AND AGRICULTURAL ORGANISATIONS** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2025** ## **1 Accounting policies** ## **Accounting convention** The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by 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 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2019. The charity is a public benefit entity as defined under FRS102. ## **Going concern** In the context of the current economic climate, the trustees have reviewed likely future developments and remain of the opinion that there are no material uncertainties affecting the ability of the charity to continue as a going concern. The trustees have made this assessment whilst considering the charity's financial resources, budgets and forecasts and a period of at least 12 months from the date of the approval of these accounts. ## **Income** Income from donations is included in income when these are receivable, except as follows: I. When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods; II. When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met. Donations in kind comprise donated services where the costs are measurable and the services would otherwise have to be paid for to maintain operational effectiveness. Income is recognised when the Association 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. Investment income is included on a receivable basis. ## **Expenditure** Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered. ## **Governance costs** Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the Independent examination fees and costs linked to the strategic governance of the charity. Governance costs are included within charitable activities costs. 9 **ASSOCIATION OF SHOW AND AGRICULTURAL ORGANISATIONS** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2025** - **1 Accounting policies** _**(continued)**_ ## **Raising funds** Raising funds expenditure, when present, include those costs incurred in seeking voluntary contributions, costs of goods sold and other costs which include the costs of running and participating in fundraising events. ## **Fixed asset investments** Investments are included at market value at 31 December. The SOFA includes the net gains and losses arising on revaluations and disposals during the year. ## **Debtors** Trade debtors are amounts due from customers for services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash on hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **Creditors** Creditors are obligations to pay for goods or services that have been acquire in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as noncurrent liabilities. Creditors are recognised initially at the transaction price. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees. 10 **ASSOCIATION OF SHOW AND AGRICULTURAL ORGANISATIONS** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2025** ## **1 Accounting policies (continued)** ## **Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the Association is demonstrably committed to terminate the employment of an employee or provide termination benefits. ## **Critical accounting estimates and judgements** In the application of the Association'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 revision affects only that period, or in the period of the revision and future periods where revision affects both current and future periods. ## **2 Income from: Donations and legacies** |Sponsorships and other contributions|**Total Funds**
Total Funds
**2025**
2024
**£**
£
3,600
3,993
3,600
3,993| |---|---| ## **3 Income from: Charitable activities** |Membership and supplier subscriptions
PPL
Learning days
Conference|**Total Funds**
Total Funds
**2025**
2024
**£**
£
Restated
61,771
57,551
17,862
17,851
7,095
7,619
62,675
50,311
149,403
133,332| |---|---| 11 **ASSOCIATION OF SHOW AND AGRICULTURAL ORGANISATIONS** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2025** ## **4 Income from: Other trading activities** |Year book sales/adverts
**5**
**Income from: Investments**
Dividends
**6**
**Expenditure on: Charitable activities**
Staff costs (Note 8)
Employee pensions (Note 8)
Contract labour
Learning days
Conference expenses
CRM Development
PPL expenses
Health and safety costs
Subscriptions
Accountancy
Secretarial expenses
Office expenses
Travel and accommodation
Insurance
Website management
Regional Meeting expenses
Legal and professional
Marketing & advertising
Governance costs (Independent examiner's fee)|**Total Funds**
Total Funds
**2025**
2024
**£**
£
2,500
2,500
2,500
2,500
**Total Funds**
Total Funds
**2025**
2024
**£**
£
4,108
3,305
4,108
3,305
**Total Funds**
Total Funds
**2025**
2024
**£**
£
Restated
57,568
30,477
1,218
522
-
7,028
6,112
5,006
37,051
25,060
1,200
-
19,652
20,590
1,985
1,890
494
499
1,941
1,932
6,600
2,689
5,955
2,046
3,771
6,868
2,623
2,149
1,642
1,642
3,014
-
3,706
3,000
-
153
3,360
3,120
157,892
114,671| |---|---| 12 ## **ASSOCIATION OF SHOW AND AGRICULTURAL ORGANISATIONS** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2025** ## **7 Net income/ (expenditure) for the year** This is stated after charging: |Independent examiner's fees:
- Independent examination
- Accounts preparation|**2025**
2024
**£**
£
1,344
1,248
2,016
1,872| |---|---| Six (2024: None) Trustees have been reimbursed for their out of pocket travel expenses of £588 (2024: £nil). No Trustee received any remuneration during the year (2024: £nil). Aggregate donations from Trustees, key management personnel, and other related parties was £Nil (2024: £Nil). ## **8 Staff costs and numbers** The aggregate payroll costs were: |Wages & salaries
Pension contributions|**2025**
2024
**£**
£
57,568
30,477
1,218
522
58,786
30,999| |---|---| No employee received emoluments of more than £60,000. The average weekly number of employees during the year was 3 (2024: 2), calculated on the basis of average headcount. The total employment benefits received by key management personnel including employer national insurance and employer pension were £38,890 (2024: £18,900). ## **9 Taxation** The charity is exempt from corporation tax on its charitable activities. 13 ## **ASSOCIATION OF SHOW AND AGRICULTURAL ORGANISATIONS** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2025** **----- Start of picture text -----**
10 Investments Listed
Investments
£
Cost or valuation
At 1 January 2025 105,555
Additions -
Valuations changes (5,282)
At 31 December 2025 100,273
Carrying amount
At 31 December 2025 100,273
At 30 December 2024 105,555
11 Debtors
2025 2024
£ £
Trade debtors 8,819 79,211
Prepayments and accrued income 168 3,909
8,987 83,120
12 Creditors: amounts falling due within one year
2025 2024
£ £
Accruals and deferred income 5,933 75,021
Social security and other taxes 1,372 976
Other creditors - 196
7,305 76,193
13 Deferred Income
2025 2024
-
Balance b/f 1 January 68,511
-
Released during the year (68,511)
-
Deferred during the year 68,511
Balance c/f 31 December - 68,511
**----- End of picture text -----**
14 ## **ASSOCIATION OF SHOW AND AGRICULTURAL ORGANISATIONS** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2025** ## **14 Movement in funds** |**For the year ended 31 December 2025**
**At 1 Jan**
**Revaluations,**
**At 31 Dec**
**2025**
**Income**
**Expenditure**
**Transfers**
**gains & Losses**
**2025**
**£**
**£**
**£**
**£**
**£**
**£**
**Unrestricted funds**
General funds
144,740
159,611
(157,892)
-
(5,282)
141,177| |---| |**Total funds**
144,740
159,611
(157,892)
-
(5,282)
141,177| |**For the year ended 31 December 2024**
**At 1 Jan**
**Revaluations,**
**At 31 Dec**
**2024**
**Income**
**Expenditure**
**Transfers**
**gains & Losses**
**2024**
**£**
**£**
**£**
**£**
**£**
**£**
**Unrestricted funds**
General funds
113,713
143,130
(114,671)
-
2,568
144,740| |**Total funds**
113,713
143,130
(114,671)
-
2,568
144,740| ## **15 Analysis of net assets between funds** |**As at 31 December 2025**
Fixed asset investments
Other net assets
**As at 30 December 2024**
Fixed asset investments
Other net assets|**Unrestricted**
**General**
**Total**
**Funds**
**£**
**£**
100,273
100,273
40,904
40,904
141,177
141,177
**Unrestricted**
**General**
**Total**
**Funds**
**£**
**£**
105,555
105,555
39,185
39,185
144,740
144,740| |---|---| ## **16 Related party transactions** There are no transactions with trustees or other related parties other than those disclosed as required by the SORP elsewhere in the financial statements. 15