REGISTERED CHARttY NUMBER: 1036285 Report ofthe Trustee5 and UDudited FiDnci¥I Sts¢ements for tht Year EDded 31 Mah 2023 for The cr Thonw Trn Dyke RsCOe & Hayes Ltd Chart¢r¢d Certifie4] Accountatlts 110 Corve Street Ludlow SHROPSHtRE SY8 IDJ
The CT Thomas Trnst Contents of the Finallcial Statements for the Year E4ded 31 Marcb 2023 Page Report of the Trustees llldepettdent ExaJDiDer's Report Statement of FiDantiAI Activitie5 Balance Sheet Notes to the Fittnril St*temeuts 9 to 15
The CT Thoma5 Trust Report of the Trustees for the Year Ended 31 March 2023 Th¢ ttwst¢es pres¢ni their report with the finala1 statements of the charity for th¢ year ended 31 March 2023. The trusiees have adopted the provistODS of .4ecouniing alld RetrfTrrting by ChaTities.. Statement of Recommended Practice applicabl¢ to ¢harities preparittg their accowits tn a¢cordan¢e with the Financial Reporting Standard appli¢able in the UK and Republic of Ireland (FRS 1021 (effective l January 2019). 0EcTEs AND AcrivrriES Objectivu aims The objects of th¢ TTUSt are to apply the annual income of the TTUSt Fut to such eFJariues or for such charitable objects, in such 5hare5 and in such matmer in all Tespe¢ts a5 the TnLStees i¢J their absolute discretion think fit. The charity is constitut¢d as n¥0 fid$, the Gelleral Fund and Lan¢aShI Designated Fund. It is th¢ present policy of the trustees to make grants to tlI0nal. internation and local charities cov¢ring as broad a spectrum of the charitable scene as is rM)ssibl¢. - Th¢ tlefICIarieS of the Trst Fund have changed at vario5 points over the yeats. wbile maintaining the the settlor's original intentiotls. Grants have been made for the following objects.. spirit of For the adYan¢¢ment of health or saving of Itve5: For the advancetnent of human rioJts. equo]ity and diversity". For the advancement of ¢iiiz¢nship or ¢otnmunity dev¢lopmen¢ For ihe advancetnent of educaiiot For the advancemeni of religton.. For thE prevention or relief of poverty, For the advancement of the atts. culiltye, heritage or science; For lo¢al charitable purposes: For relief of those in rte¢d by r¢ason of youth. disability oroth¢r dis•JYaDtage' and For supp¥)rt of the anned forces of the Crown. Protection of the ¢nvironm¢ni The objects of the Lan¢ashire Desiated Fulld are &s for the Genern] Fund but kn aid benefi¢iori¢s within the Lancashire area. The trustee5 are also crnpow¢red in their absolute discretion to diStribe such of the Trust Fund as is deemed necessary atld desirable in the same temis as th¢ income of the Trust. At the present time the rK)li¢y of the trustees is not to distribute the capital of the TnLSt Fund ex¢epi itk ¢xceptiODai circumstsnce Public benefit The tnjstees confirm that they have tsken the need for public benefit into account when revieMTrn8 the Trllsvs attll5 and objects and in setting oui the grant making policies. Th¢ trustees have had regard to the Chan"ty Cominission's guidance on public benefji and cotthm that every effort is made to eThsure that donatiot)s madc are for the public benefit. The Posiiive social itDpxt anticipated from ¢ach grant is consÈdered b¢fore a grant 15 awarded. and monitored. This enables tswtees to be ¢onfideni thai the charity has througb its wtde range of grantees. achieved significatht public benefit for a nutnber of 1]nerable groups xross the UK. A diverse ran8t of public benefrt is provided by the man>. charities supported each year. as they work to a]levie need and distr¢s& and help pwple lead more fulfilling lives. Page I
The CT Thomas Trnst Report of the Trll$tees for the Year Ended 31 Mar¢h 2023 OWECTTrTS AND AcfiviTIES Grantmgking TILe charity. ain]s to fillfil its obje¢ts by providtng a Starnable and growinggrant4rthking programm¢, supportiTh8 a wide variety of chan"table projects and or8aDisathons across the U Th¢ trust regard thernsclYe5 &s a broad. genern]1 and predorniDantiy reactive grattt maker. with a rx>li¢y of selecting the best projeets from appli¢ations ¢¢I¥¢d ID order to achiev¢ the maximutll wkssible beneficial social itllpact. To ensure a good l¢v¢l of social impact the trustee5 prefer fiLTMI organi5atioDS wbicb have real difficulty g¢tting funding e15ewlJere and which demonstrate evidence of effective work meffling a COP¢1]ing need. For this many of the grants are K) fund smaller OrgallilIo and those without publ[¢ appeal. ACHIEVE,MENT PERFOlLMCE During ihe year ended 31 March 2023 totsl incom¢ amouDted to £90.10? 12022.. £184.8i21. Di5trtbutions totalling £55,74312022.. £103,182} w¢r¢ made to various clwiiies aThd £21,38212022.. £20.078) used to defrdy expenses. FINANCIAL REVIEW Fin¥n¢i41 po$itiOJI At the year end stock market invesbnents held of £2.539,99112022.. £2.685.2671 together with investtnent property Valued at £265.500 (2022.. £265.500). C&sh at bank amounted to £98.08712022.. £77,3631 which covered ¢reditor5 of £4.441 {2092.. £5,540) mor¢ than 10 times over. UnTestriaa fimds available for distribution at the end of the fman¢tal year wer¢ £2,904,837120?2.. £3,050.826}. lttvestmeNt policy alld objectives The investment Lssets art the primary fiFndin8 source for the charity. so the perfornwtt of investments over the long-temi is vitally IMrtant to the lon84erni swstsinability of the charity, 2Dd the iDwa¢t it Call make through the grallts it awards. The ¢harity op¢rat¢s a iotsj rcttrn approach to investm¢rt with whwer to spend itOrne andlor ¢apitsl. The charity h&5 power under lis Scheme to invest in s&)cks. share5. funds. securities and otheT property. The Trustee5 have apinTed professional iVeStMent advisx)rx who in particular VISe on investtncnt policy and Strategy, &s5et allocation and the perfomhance of manager5. The iThvestm¢nt portfolio has the prirnary long term objeaive of nLYi1Tr8 sllstainable spending from the Trf0]I0 in order to 5UPFrf)rt 8fdnt-makiD& Reserve5 policy Given the obj¢ctiYes and airns sel out abov¢ the trustee5 considerthat there is need for a rerveS poliey. srRucfLTRE, GOVERNANCE LYD MANAGEMEIYT Governing document The charity is cotrtroued by its governing do¢umen( a deed of trust and constiwtes unincorrrf)rated chartty. The cr Thorn&s Trust was estsblls1 by way of a itfetime gift from the sett]or.The charity was constituted by a Declaration of Trust d&¢d 5 Much 1994 and is regi$*r¢d iu England and Wa1¢5, ntunber 1036285. Th¢ Trust is priYat¢ly futKied atkd does noi raise f$ from external sowces. Re£TUitmtnt and app(•intment of new trustets Atjy new trnste¢s recruited and appointed by the existiTr8 trustees having Considered the 5ki11s and experience required. Page 2
Tbe cr Trust Report ofthe TTUStees for the Yer Ended 31 March 2023 STRucfuRE, GOVERNAPICE AND MANAGEYEII Related parties Durillg the year. Nfr A J Dale. one of the tDJstees h&s been paid £7(N) for admintstration servi¢¢s. There were no other reled party trdTLsactioDS. Risk managerneDt The trust¢¢s have a duty to identify aDd review the risks to wbicb the eharity is eX)sed and to ensure appropriate controls are in place lo provide rv&sotLable Suat¢ against fraud and ermr. The trustee5 fonnally review risk on an annuat ba5i5 a5 well &$ when issu¢$ arise. The trustees have reviewed areas of p)teniial risk foT the charity and concluded thatthere are sufficient ¢ontro15 in place across the organisaiÈon. One of the key risk5 identified i5 that of substantial inves(ment 105ses. which would reduce the allrtt of money available for grant-mkn.ng over the lollg¢r-t¢rm aj hence the impa¢1 of the charity through the grants it awards.. to addres5 this the charity h&% a diversified investm¢ni P)rtfolio atld pesseS in pla¢e io monitor cash flow and spending, which should minimise the tential for long tenn losses. In additio the trustees take professional advice for investment decisions from regulated stockbrokets. REFERENCE AND ADMiflSTIL4TIVE DETAIIS Registered ebarity nu]nber: 1036285 Trllstees: iss S R Coupe Mr C.Morley MrAJDale Mr N E Waik¢r Mrs J V B Newton Ch4rity'8 priAeip#l address: 38 Tcme Strect Tenbury Wells Worcestershire W"R15 8AA Banker5: TSB PIC 71 Teme Stre T¢nbury lTr'eUs Worcestershire WR15 8AQ Solieitors: Norris and Miles 6 Market Square TenbuTr Wells Wor¢ester5hire WR15 8BM' Stockbrokers: EFG Harris AUd8y GrouDd Floor Beech House Anchorage Avenue Shrewsbury Business Park SY2 6FG Page 3
Tbe CT Thomas Trn5t Report of the Trustees for the Year Ended 31 .March 2023 Approved by order of the b(th of trustees on 2 April 2024 and signed on its behalf by.. A J Dale- Trustee Page 4
Indtpendent ExamiDer'5 Report to tbe Trustets or The cr Thomas Trnst Independe1 exminer'5 rert to the tnte$ of The cr Thomas Trust I report to the charity trustees on rny exatnination of the accounts olThe CT Thoma5 Trst (the Trust) for th¢ year ended 31 March 2023. Re5POllsibilities and basis of report As the ¢harity irustees of the Trust you are resp)nsilJle for the prepaTation of the accounts in a¢wrdonc£ with the requirements of the Charities A¢t 2011 {Ihe Act,). I report in respect of my examinaiion of the T[S accounts carried ow under Section 145 of the Act and in ¢ing out my examjnation I have followed au applicable Directions Ven by the Charity Q)mmission und¢r Sethion 14515Kb) of the Act. Independent ¢xxthTtt¢r'$ $tternent I have cotnpleted my examination. I confimi that materia] matters have eom¢ to nxy attention in connection with the ¢xaminarion giving me cause to believe that in any material $Ve¢1. accowiting records were llot kept in respect of the Tn¢ as required by Section 130 of th¢ Act" or the accounts do not aceord with those records: or the accounts do not comply with the applicable requiremeDts concerning th¢ forni and content of accounts set out in the Charities {Accowits and R¢port5) Regulatioos 2008 other than #Y rtyuirellnt that ihe accounts give a true and fair vicw which is not a Dutter ¢onsidertd as part of an independent examination. I have no COllG¢Tt and have come across IM) other nwter5 in connection with the examitiation to which attention should be dw4 order ¢0 able a proper understandin8 of th¢ x¢ounts kn be reached. P K Re>0]d5 Dyke Rus¢oe & H&yes Ltd Chartered Certified A0[ants 110 Corve Strett Ludlow SHROPSHtRE SY8 IDJ 2 April 2024 Page 5
Tbe CT Tbom4s Trn SiateThent of Financial Activities for the Year Ended 31 M4rch 2023 2023 UDre5tricted funds 2022 Total fidS Note5 INCOME AND ENDOWMETrrrs FROM Don*ions and legacies 106.250 Investment iDcome Other income 88.377 1.725 78.582 Totsl .102 184,832 EXPENDTfuRE ON Raising funds 16,252 16,634 Chgrit#ble A¢tiviti Grant fiJndin8 activities Governance Costs 55,743 5,130 103.182 3,444 Total 77.125 123260 N¢t gainsl{losses) on inYesthJeDts (159,4161 177,629 NET INColEj(ExPENDrrRE) (146.439) 239,201 RECONCILIATION OF FUPIDS Toiai fijnds brought forward 3.050.826 2.811.625 TOTAL FUNDS CARRIED FORW"ARD 2.904.387 3,050,826 The notes fonn part of these finan¢ia] 5tstements Page 6
The CT Thom95 Trust Bglallce Sheet 31 ,Marth 202J 2023 unStricted fund5 2022 Total fund5 Notes FIXED ASSE13 vestments Investents Investment propery io li 2.539.991 265.500 2.685.267 265,500 2.805.491 2.950.767 CURRENT ASSETS Debtors Cash at bank 12 5.250 98,087 28.236 77,363 103,337 105,S99 CREDITOILS Amounts failing due within one year 13 (4.4411 (5.540} NET CUIiRENT A&SETS 98.896 100.059 TOTAL ASSETS LESS CLTRRE LLIBILITIES 2.904.387 3.050,826 NET ASSETS 2.4,387 3.050,826 The notes forni part of th¢s¢ financi ststrments Page 7 Colltinued...
The CT Th05 Trnsi BalaDce Sheet- continued 31 March 2023 FUNDS Unrestricted fuods 14 2.904.387 3,050,826 TOTAL FLryDS 2.904,387 3,050.826 The financial statements were approved by thr Board of Tn]st¢es aj authorised for Ille on 2 April 2024 and were Sied on its betmlf by.. S R Coupe- Trte¢ A J Dale- Trustee N E Walker- Trustee J V BNewton- Trustee C Morley- Tnxste¢ The not&s forni part of thcse fitwicial statements Page 8
The CT Thom15 Trust Notes to the Fittancial Statements for the Year Ended 31 March 2023 AccobffflNG POLICIES Basis of prwring the finnei41 #4tements The finallcial 5tateTllents of the charity. whieh is a public bencfit entity under FRS 102. have been prepared in accordallc¢ ihe Chariiies SORP (FRS 102) 'Accounitng and Rew>Tting by Charities.. Statement tsf Recotntnended Prdctice applicable to chariiies preparillg their accoutlts in accordance with the Fitlancial Repoflillg Standard applicable ill the UK and Republic of treland (FRS 102) {¢ffectzve l January 20191,. Financial Reporting Stsndard 102 The Fit)an¢ia] R¢portiDg Standard applicable in the UK and Republic of Ire12nd' artd the Charities Art 2011. The fjnanctai statements have been Prepar under the his¢orica] cost convention, with the exception of investments whirh are included at market vajue. The most significant are&s of ne¢rtaInty affeaTng the carrying Value ol assets held by th¢ Tnst are the level of investment r¢tUTtL the perfonnance of investmeni markets (See the investment policy and performatLCe and risk management sections of the mlee$. amiual rert for more infornutionl. Income All incotlle 15 recogTrised in the Statement of Financial Activities once the charity has ¢ntitl¢ment to the funds, it is probable the incotlle will be received and the amowii ¢2n be measured reliably. Eend1thre Liabilities are recogThis&4 as exp¢rtdittw¢ as 5(M)n as there is a legal or constrn¢tiv¢ obligation CODllDitting th¢ charity io that expenditure. it is probable that a transfer of cwnomic knefits will be required in s¢¢tl¢tnent and the amount of the obligatiot) ¢on be measured reliably. ExpendiDJre is accoLllhted for on an arcrua15 b&8is and has beet] classified under headtngs that wgate all cosi related tt) the cate80ry. Where costs e8nno¢ be directly attributed to partieular headings ihey have beeD allocated to activities on a basis ¢onsistcnt the use of resour¢tS. Grants offered subject to conditioDs which bav¢ )t been met at thc year e1 date are noted as a commitment but not accrued expenditure. lllvestm¢tst property Investment propertv is sljown at most recent valuation. Any ag8re8ale surplus or deficit arising from clwiges tn fair value is recognised in the Statement of Financial .4ctiviiies. Flxed Isset Investhients Invesknents are a forn) of basi¢ fu¢18[ iustrutDenL Fixed inv¢sunents alr initially recognised at their ttwjsaction va]ue atld are 5ub5cquently measured at their fatr value (tn¥Jket value} as at the balance sheet date. The Starement of Financial A¢iiviiies iDclude5 the net gaiDS and losses arising on reva]uation and disp()sa]s throughout the year. Quoted stocks and shares ar¢ In¢led itl the Balance Sheet at the eunrnt mArkd value quot¢d by th¢ investsnetEt atY$l exiludiD8 dividend. R¢ali$ed gain$ and1055e5 All gains and losses ar¢ tsk¢n to th¢ Statemrnt of Fitwjcial Aetiyities as they aris¢. Reaiised gains a1 losses on investments are ca]culated as the difference beNeen sales pro¢eed5 and op¢nin8 carrying value (purchase date if later). Unre81ised gains and losses are ca]¢ulated &$ the differen¢e b¢ttveen the market value at the year end and the opening Carrying value (or purchase date if lerl. TaxAtion The charity is exempt from on its charitsble artiviiie Fund accountiDg Unrestricted fLu)ds can be $¢d in a¢wrdanr¢ with the charÈtable obje¢t¢ves ai the discretion of the tnL8tees. R¢stri¢ted fiEDds Can only be used ftir partscular re5trieied purposes withiD the ObJts of the charity. Restri¢tions arise when Specified by the donor orwhen fimds are Tai%d for particular restricted purp)ses. Further explanation of the natllre a1 purpose of each Ojnd is inCludl in the not¢s to the financial statern¢nts. Pag¢ 9 continued...
The cr Thom#s Trnst Note5 to the Finantial Statements- eoDtiDlled for the Y¢4r Ended 31 ,Mar£h 2023 ACCOUNTILG POLICIES- continlltd Debtors Debtors are amounts owed to the charity. They ar¢ r¢p)rta on the basi5 tsf their recoverable amoutsL Cash ai bank Cash ar bank and in hand is held kn meet the day to day rU[lDg wsts of the chlty as they fail du¢. Creditors Creditors are amounts owed by the ¢harity. They are rep)rted at the amoum the clwity expects to have to pay to settle th¢ debt. DOIYATIONS AND LECACIES 2023 2022 Donations Gift aid 85,000 21,250 106,250 All donation5 were Trceived from a trustee. Th¢ tn¢$ are exer¢i5iDg their ststutory exemption AK)t to provid¢ the name of the donor during their lif¢time. II¥VESTMEiYf INCOME 2023 2022 InYc51rneDt iOe Deposit account intere Stockbroker5' deposit iDtere5t 88,081 248 48 78.457 125 88,377 78,582 ISING FUNDS lov¢stmtht JuNagemeDt costs 2023 2022 Portfolio managem¢nt Property repairs 15.551 701 15,902 732 16,252 16.634 Page 10 ¢ontinued...
The CT Thoma5 Trust Notes to the Fillanti#l St#t¢meots- continued for the Year Ended 31 March 202J CHARITABLE AcrivrriES COSTS fi]nding of a¢tÈvitic5 Is¢e note Support Costs {set note 7) 61 Tota15 Gratlt fimding actiVLttCS Gov¢rnan¢¢ ¢osts 55.743 55.743 5,130 5.130 55,743 5.130 60,873 GRLY. rs PAYABLE 2023 2022 Advancement ofhealth or saving of live5 Advancernetrt of human rights. 4uality attd dtversity Adyancement of ¢itizerJship or community deYelopmeDt Advancement of education Adyaneement or reliOrt Prevention or relief of poverty Advancement of ihe arts, ¢u]ivre. heritsge or scieltce Gifts for the benefit of a particular locality Relief of those in need by r¢asoTh of youth, disability Orot1 disadvantsge Support (kf the armed force5 of the Crowi Protection of the ¢nvtroomeni 21.500 26,500 25.000 9.493 3,0 3.000 6.5 5,000 4,000 10,682 21,500 4.000 4,000 3,?50 10,500 1.000 55,743 103.182 All grants are made institutions. The trustce5 are exercising the swurory exemption to provide Dames of recipients during the lifetime of the settlor. SUPPORT COSIS Governance ¢osts Govemall¢e wsts Governance costs consist of indep¢ndeni examinatioll fce5 of £883 (2022.. £685}, accountancy fees of £1,765 (2022.. £1.370). bookkeeping fees of £1.78212022= £nil) and trustees. remwleration of £70012022.. £1,3881). Page 11 continued...
The cr Thom#s Trust Note5 to the Finallcial Ststemethts- tontiDued lor the Ye#r Ended 31 Mar¢b 2023 TRUSTEES, REMuNEK4TI0 AND BEYEFITS During the year. Mr A J Dale, one of the trustees h¥ be paid £700 for admin10Th services. No fre5 are paid to t[S for norniai tntr's duties. Trnsttts, expenses There were trust¢¢s' expenses paid for the year ended 31 March 2023 for the year ended 31 March 2022. COMPARATIVES FOR THE STATEMEliT OF FII%Af*CIAL ACTIVITIES Unresiri¢ted fund5 INCOME AI¥D ENDOWMENTS FROM Douatio]ts legacies 106.250 Investhient incotDe 78,582 Total 184.832 EXPENDITURE ON Raising funds 16.634 Ch9ritgble 9¢tivities Grallt fundillg activities GoYernall¢e ¢o$ts 103.182 Total 123,260 gains on investments 177,629 NET INCOME 239.201 RECONCILIATION OF FuDs Total fimds brought forward 2,811.625 TOTAL FUNDS CARRIED FORWARD 3.050.826 Page 12 continued...
The CT Thomas Tryst Notes to the Financial StateThents- CODtinued for the Year Ended 31 Matth 2023 io. FIXED ASSET INVESTMENTS Lisied investments To 2023 Total 2022 Market value at 31 March 2022 Additiorhs Disposals Reali%d gain(105St$)- net Unrealised gain(10s5eSl- net 2.685,267 180,794 (166.656) 2.392,872 264,723 1149,957) 31.127 146,502 (159.6381 Market value at 31 Mar¢h 2023 2.539,991 2,685,267 Historica] cost at 31 March 2023 2.234.513 2,208,398 The additions and di$Sa]S of tnve5tments during the year are stated after adjusting for stwkbrok&s c05ts".- Totsi 2023 Toi 2022 Admin ¢h&ges Sto¢k Exchange levy Third party rharg¢s 220 10 300 14 230 314 lttvestments at maTk¢t Trilu¢ comprised.. 2023 2022 Equities Fixed interest securities 2.180.176 359,8l4 2,282.723 402,544 2.539.991 2,685,267 ove¢aS invested fimds includ¢d in the figures th)ve:_ Equities Fixed interest s¢curities 195.315 189.715 195J15 189.715 Listed inv¢stsn¢nts are held 85V• iTh the General fimd and 15% in the LaDcathire fimd, ail within unrestricted funds. ii. INTrTSTME[ PROPERTY FAIR VALUE At l April 2022 and 31 Mar¢h 2023 265.500 NET BOOK VALUE At 31 March 2023 265,500 At 31 March 2022 265,500 The Investment Property Ès includ at an histori1 valuation from wheTh th¢ pD)perty was donated to the Trust. It was VUed by a professional surveyor. The pttsp¢rty is Subj1 to an A8ricuEttwal Tenall¢y with suecession The Trust as landlord is responsible for r¢pairs. Page 13 continued...
The CT Thomas Trnst Notes to the Fin#nttal St#tem¢nts- Continued for the Year Ended 31 l¥larth 2023 12. DEBTORS: AMouNfs FALLING DUE WITHIry OIIE YEAR 2023 2022 Investmertt income debtor5 Other debtors 5250 6,986 21.250 5250 28236 13. CREDITORS: Amouyfs FALLIYG DUE Th'miip* ONE TrEAR 2023 2022 Other Creditors 4.441 5,540 14. MOVEMEYf IN FUNDS Nei Ivernent in fijnds Trdllsfers b¢twe¢n fidS Ai At 1.4.22 Unrestricted funth General fid Lancashire Designat¢d Fund 2.594.175 456.651 (122,526) {23.913} (10.2431 10,243 2,461.406 442.981 3.050.826 (146.4391 2.904.387 TOTAL FUNDS 3.050.826 (146.4391 2.904.387 Net rnovement in funds, in¢lud¢d in the aiN)ve a5 follows.. Incoming resow¢es Gains and. losses Movement in fidS expended Unrestrleted funds General fund Lancashire D¢signat¢d Fund .102 (77.1251 (135,503) 123,913) (122.526) {2J,913) .102 (77.1251 (159,416) {146,4i9) T(yfAL FUNDS 90,102 177,125) (159.416) (146.4i9) cOmrItIVeS for movement ltt Net Trve¢nI fi(ts Transfers between funds At 31.3.22 At 1.4.21 Lnre5tricted General fi]nd lancashire De5IgtLed Fund 2.417,337 394288 214.278 24,923 {37,440} 37,440 2.594.175 456.651 2.811.625 239,201 3,050.826 TOTAL FLryDS 2.811.625 239,201 3,050.826 Page 14 continued...
The cr Thom$ Trust Notes to the Financial Statements- coTrtillu¢d lor the I'e#r Ended 31 Mrtb 2023 MOVEMEP4T IN FUNDS- eoDlinued Comparative net movernent in fund& inc]ed in the aèK>ve are as follows.. Gains and los Movement in funds resources expellded Unrestrirted fulld5 General fund IAn¢ashire Designthd Fund 184.832 (121,539) 11.7211 150,985 26,614 214.278 24,923 184.832 (123.260) 177,629 239201 TOTAL FUNDS 184.832 1123,260) 177.629 239,201 The unrestricted fullds are available to be spent for of the purTK>se5 of the eharity. The Lanc&shire Designai¢d fimd is to sptcificaIly aid beneficiaries Jn Lancastlire. Trnsfers betweeo In a meeting of the ttv#ees held On 15 November 2018 it was agreed that the Lancashire fund would in future be represented by 150/0 of the totsi fim(ts as income after managemeni costs but before the payment of grants, and inv¢stments ai tbeir Yalue at each year en(L A transfer between fund5 of £lO,243 (2022.. £37.440} h&$ been made to achieve this outcome. Is. RELATED PARTY DISCLOSURFS Durin8 the year. Mr A J Dale, one of the trwsts been paid £700 for administrntiott s¢rvkce5. There were no other related party transactions. 16. GOING COPICERN The trustees CODsider that th¢re we no mthrial uneertainties at)ut the charity's ability to conts.nue and the fitLan¢ial statements bave therefore been prepared on a goiDg eoncern basis. The tru5tee5 have t55Cd the charitys ¢ash reserves which are sufficient to eoable its activitie5 to ntillu¢ for twelve months without th¢ rcccipt of any addiiioDal fijnds. Pa8e IS