DocuSign Envelope ID: 8E3CFE14-6B32-45DB-9990-4463B820FC16
Charity number: 1037616
BILLERICAY CATHOLIC PRE-SCHOOL
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
DocuSign Envelope ID: 8E3CFE14-6B32-45DB-9990-4463B820FC16
BILLERICAY CATHOLIC PRE-SCHOOL
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 - 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 19 |
DocuSign Envelope ID: 8E3CFE14-6B32-45DB-9990-4463B820FC16
BILLERICAY CATHOLIC PRE-SCHOOL
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2022
| Trustees | Caoilfhionn Cubitt, Chair |
|---|---|
| Jessica Welton, Secretary | |
| Thalia Beckwith | |
| Steven Kew, Treasurer | |
| Billie Foyle | |
| Sophie Kelly | |
| Alexandra Venables | |
| Sam Slade (appointed 15 June 2022) | |
| Kate Nolan (appointed 15 June 2022) | |
| Emily Amos (appointed 15 June 2022) | |
| Lee Clegg (appointed 15 June 2022) | |
| Laura Thorne (appointed 15 June 2022) | |
| Carly Edwards (appointed 15 June 2022) |
| Charity registered | |
|---|---|
| number | 1037616 |
| Principal office | 52 Station Road |
| Billericay | |
| Essex | |
| CM12 9DR |
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BILLERICAY CATHOLIC PRE-SCHOOL
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022
The Trustees present their annual report together with the financial statements of the Charity for the 1 September 2021 to 31 August 2022.
Objectives and activities
a. Policies and objectives
Billericay Catholic Pre School is a provider of childcare to the local community. It is a charitable trust with trustees elected by the members of the Pre School. The Pre School relies on income from fees, the Government Free Early Years Entitlement and money raised through fundraising events. The Pre School has its own fundraising committee made up of parents who regularly meet to generate new ideas and organise these events.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
Provision of high quality childcare to the local community for the benefit of families from all backgrounds.
c. Activities undertaken to achieve objectives
The Billericay Catholic Pre-School has sessions 5 days a week in the Canon Roche Centre and works within the framework of the Early Years Foundation Stage (EYFS). We hold full-day sessions on Mondays, Tuesdays and Thursdays with morning provision during the rest of the week.
Our large, spacious facilities allow children to play, learn and most of all have fun. We have an all-weather surface garden for outdoor play, and numerous tablets which are used to introduce our children to the world of computing and technology.
We have a dedicated, fully qualified team of staff who are committed to the care, welfare and safety of the children in our setting. They have many collective years of experience. We are proud of our high adult ratio of 6 staff to 30 children.
We are regularly inspected by Ofsted. Our last inspection was May 2019 where we received a “Good” Ofsted rating. We are particularly pleased with Ofsted’s comments about the “strong leadership and good teamwork” as well as the recognition that our children are “enthusiastic learners” and that parents recognise “that their children’s social skills have increased since starting”.
d. Main activities undertaken to further the Charity's purposes for the public benefit
The Pre school is open for children and families of all backgrounds, and we continue to support families who rely upon free childcare funding for their place at Pre school.
Achievements and performance
a. Main achievements of the Charity
We have continued to provide a high quality childcare provision to the local community. We have been proud of how our amazing Staff have continued to work together closely to ensure high standards of care for the children who attend the Pre School. New joiners continue to find our setting one which a happy and safe learning environment.
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BILLERICAY CATHOLIC PRE-SCHOOL
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
Achievements and performance (continued)
b. Key performance indicators
We regularly review the ongoing management and performance of the Charity through regular Management Committee meetings, and focus on ensuring that we meet our statutory obligations, including those of a Safeguarding nature.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The Reserves Amount is set at £25,000. Pre-school aims to maintain reserves consisting of:
- reserves to meet redundancy liabilities (including notice period); 2. general contingency reserves equal to one term’s (a third of our financial year) other total expenditure, excluding staff costs.
The Committee believes that this level of reserves is prudent and necessary to ensure that the Pre-school can run efficiently and meet future needs.
Structure, governance and management
a. Constitution
Billericay Catholic Pre-School is a registered charity, number 1037616, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
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BILLERICAY CATHOLIC PRE-SCHOOL
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
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 (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities 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 consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
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 keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 17 April 2023 and signed on their behalf by:
................................................
Caoilfhionn Cubitt
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BILLERICAY CATHOLIC PRE-SCHOOL
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2022
Independent examiner's report to the Trustees of Billericay Catholic Pre-School ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2022.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I 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 completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not 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 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.
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BILLERICAY CATHOLIC PRE-SCHOOL
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Jonathan Gorridge FCA
Dated: 18 April 2023
ICAEW
MWS
Kingsridge House 601 London Road Westcliff-on-Sea Essex SS0 9PE
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BILLERICAY CATHOLIC PRE-SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022
| Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ - - 2,713 2,713 1,742 1,742 971 42,385 971 43,356 |
Restricted funds 2022 £ - 118,624 - 118,624 107,691 107,691 10,933 - 10,933 10,933 |
Total funds 2022 £ - 118,624 2,713 121,337 109,433 109,433 11,904 42,385 11,904 54,289 |
Total funds 2021 £ 13,313 89,434 2,332 105,079 |
|---|---|---|---|---|
| 96,375 96,375 |
||||
| 8,704 | ||||
| 33,681 8,704 42,385 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 9 to 19 form part of these financial statements.
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BILLERICAY CATHOLIC PRE-SCHOOL
BALANCE SHEET AS AT 31 AUGUST 2022
| Note Fixed assets Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 13 Unrestricted funds 13 Total funds |
382 66,724 67,106 (12,817) |
2022 £ - 54,289 54,289 54,289 54,289 10,933 43,356 54,289 |
377 54,273 54,650 (12,265) |
2021 £ |
|---|---|---|---|---|
| - 42,385 |
||||
| 42,385 | ||||
| 42,385 | ||||
| 42,385 | ||||
| - 42,385 |
||||
| 42,385 |
The financial statements were approved and authorised for issue by the Trustees on 17 April 2023 and signed on their behalf by:
Caoilfhionn Cubitt
The notes on pages 9 to 19 form part of these financial statements.
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BILLERICAY CATHOLIC PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
1. General information
Billericay Catholic Pre-School is an unincorporated charity registered in England and Wales.. Its principle office is 52 Station Road, Billericay, Essex, CM12 9LL
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Billericay Catholic Pre-School meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
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BILLERICAY CATHOLIC PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
2. Accounting policies (continued)
2.4 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.
2.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.8 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.9 Pensions
2.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion 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 accordance with specific restrictions imposed by donors or which have been raised by the Charity 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 set out in the notes to the financial statements.
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BILLERICAY CATHOLIC PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
3. Income from donations and legacies
| Grants Local council additional restrictions grant Government grants Coronavirus Job Retention Scheme Subtotal detailed disclosure Grants Local council additional restrictions grant Government grants Coronavirus Job Retention Scheme Subtotal detailed disclosure 4. Income from charitable activities Fees |
Unrestricted funds 2022 £ - - - - Unrestricted funds 2021 £ 11,000 - 11,000 11,000 |
Restricted funds 2022 £ - - - - Restricted funds 2021 £ - 2,313 2,313 2,313 Restricted funds 2022 £ 118,624 |
Total funds 2022 £ - - - - |
|---|---|---|---|
| Total funds 2021 £ 11,000 2,313 13,313 13,313 |
|||
| Total funds 2022 £ 118,624 |
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BILLERICAY CATHOLIC PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
4. Income from charitable activities (continued)
| Fees 5. Income from other trading activities Income from fundraising events Fundraising Fundraising 6. Analysis of expenditure on charitable activities Summary by fund type |
Restricted funds 2021 £ 89,434 Unrestricted funds 2022 £ 2,713 Unrestricted funds 2021 £ 2,332 |
Total funds 2021 £ 89,434 |
|---|---|---|
| Total funds 2022 £ 2,713 |
||
| Total funds 2021 £ 2,332 |
| Charitable activities Charitable activities |
Unrestricted funds 2022 £ 1,742 Unrestricted funds 2021 £ 2,502 |
Restricted funds 2022 £ 107,691 Restricted funds 2021 £ 93,873 |
Total 2022 £ 109,433 |
|---|---|---|---|
| Total 2021 £ 96,375 |
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BILLERICAY CATHOLIC PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
7. Analysis of expenditure by activities
| Charitable activities Charitable activities Analysis of direct costs Staff costs Staff costs |
Activities undertaken directly 2022 £ 88,460 Activities undertaken directly 2021 £ 70,991 |
Support costs 2022 £ 20,973 Support costs 2021 £ 25,384 Activities 2022 £ 88,460 Activities 2021 £ 70,991 |
Total funds 2022 £ 109,433 |
|---|---|---|---|
| Total funds 2021 £ 96,375 |
|||
| Total funds 2022 £ 88,460 |
|||
| Total funds 2021 £ 70,991 |
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BILLERICAY CATHOLIC PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
7. Analysis of expenditure by activities (continued)
Analysis of support costs
| Rent General Expenses Stationery Insurance Accountancy Staff Training Legal and Professional fees Bank Charges Fund raising expenditure Rent General Expenses Stationery Insurance Accountancy Staff Training Legal and Professional fees Bank Charges Subscriptions Fund raising expenditure |
Activities 2022 £ 11,604 2,674 437 747 1,980 1,210 308 285 1,728 20,973 Activities 2021 £ 11,248 7,353 271 363 1,800 798 728 241 80 2,502 25,384 |
Total funds 2022 £ 11,604 2,674 437 747 1,980 1,210 308 285 1,728 20,973 |
|---|---|---|
| Total funds 2021 £ 11,248 7,353 271 363 1,800 798 728 241 80 2,502 25,384 |
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BILLERICAY CATHOLIC PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
8. Independent examiner's remuneration
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner for the independent | ||
| examination of the Charity's annual accounts | 1,980 | 1,800 |
9. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2022 £ 86,947 1,187 326 88,460 |
2021 £ 70,184 760 48 |
|---|---|---|
| 70,992 |
The average number of persons employed by the Charity during the year was as follows:
| Management Employees |
2022 No. 1 14 15 |
2021 No. 1 18 |
|---|---|---|
| 19 |
No employee received remuneration amounting to more than £60,000 in either year.
The key management personnel of the charity comprises the Trustees and the Pre-School manager. The total amount of employee benefits (including employer pension contributions and employer national insuance contributions) receieved by key management personnel for their services to the pre-school was £14,592
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 31 August 2022, no Trustee expenses have been incurred (2021 - £NIL) .
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BILLERICAY CATHOLIC PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
11. Debtors
| Due within one year Other debtors Prepayments and accrued income |
2022 £ 13 369 382 |
2021 £ 14 363 |
|---|---|---|
| 377 |
12. Creditors: Amounts falling due within one year
| Other taxation and social security Pension fund loan payable Accruals and deferred income |
2022 £ 465 185 12,167 12,817 |
2021 £ 90 - 12,175 |
|---|---|---|
| 12,265 |
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BILLERICAY CATHOLIC PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
13. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Restricted funds ECC Grants Fees Total of funds Statement of funds - prior year Balance at 1 September 2020 £ Unrestricted funds General Funds - all funds 33,681 Restricted funds ECC Grants - Fees - Other grants - - Total of funds 33,681 |
Balance at 1 September 2021 £ 42,385 - - - 42,385 Income £ 13,332 48,034 41,399 2,314 91,747 105,079 |
Income £ 2,713 76,709 41,915 118,624 121,337 Expenditure £ (2,502) (48,034) (43,525) (2,314) (93,873) (96,375) |
Expenditure £ (1,742) (76,709) (30,982) (107,691) (109,433) Transfers in/out £ (2,126) - 2,126 - 2,126 - |
Balance at 31 August 2022 £ 43,356 |
|---|---|---|---|---|
| - 10,933 10,933 |
||||
| 54,289 | ||||
| Balance at 31 August 2021 £ 42,385 |
||||
| Unrestricted funds General Funds - all funds Restricted funds ECC Grants Fees Other grants Total of funds |
||||
| - - - - |
||||
| 42,385 |
14. Summary of funds
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BILLERICAY CATHOLIC PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
14. Summary of funds (continued)
Summary of funds - current year
| General funds Restricted funds Summary of funds - prior year Balance at 1 September 2020 £ General funds 33,681 Restricted funds - 33,681 |
Balance at 1 September 2021 £ 42,385 - 42,385 Income £ 13,332 91,747 105,079 |
Income £ 2,713 118,624 121,337 Expenditure £ (2,502) (93,873) (96,375) |
Expenditure £ (1,742) (107,691) (109,433) Transfers in/out £ (2,126) 2,126 - |
Balance at 31 August 2022 £ 43,356 10,933 54,289 |
|---|---|---|---|---|
| Balance at 31 August 2021 £ 42,385 - 42,385 |
||||
| General funds Restricted funds |
15. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2022 £ Current assets 56,173 Creditors due within one year (12,817) Total 43,356 |
Restricted funds 2022 £ 10,933 - 10,933 |
Total funds 2022 £ 67,106 (12,817) 54,289 |
|---|---|---|
Analysis of net assets between funds - prior year
| Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 54,650 (12,265) 42,385 |
Total funds 2021 £ 54,650 (12,265) 42,385 |
|---|---|---|
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BILLERICAY CATHOLIC PRE-SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
15. Analysis of net assets between funds (continued)
16. Transfers between funds
There were no transfer between funds during the year.
17. Pension commitments
"The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £326 (2021 - £48) and amounts totaling £185 (2021: £nil) were payable to the fund at the balance sheet date and are included in creditors."
18. Members' liability
Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £NIL for the debts and liabilities contracted before he/she ceases to be a member.
19. Related party transactions
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 August 2022.
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