Cliarity Nuinber- 1038566 HUGHES TRAVEL TRUST TRUS'fEES' ANNUAL REPORT & FINANCIAL STATEMENTS 31 AUGUST 2024 Wilson Partners Limited Chancery Flouse, 30 St Jolins Road, Woking, Surrey GU217SA
HUCIIES TRAVEL TRUST Page I TRUSTEES, ANNUAL RLPOR'r for tlle yeAr ended 31 August 2024 Tlie trustees presei)t tlieir report aloiig with tlle finaiiciftl stateinenls of the cllarily 14ugl)es Travel Ti'ust {refei'i'ed to as'the Trust") for the year ended 31 August 2024. Tlle comparative period was tlie year ¢nded 31 August 2023. The financial slateinents comply with the Chai'ities Act 2011 and Accoiinting and Reporting by Cl)arities: Statement of Recomiiiended Practice applicable to cliarities preparing tlieir accounts iii g¢CCOI'dance witl) tlie Fiiiancial Reporting Standard applicable in tlie UK and Rcpublic of Irelaild (FRS 102) (effeclive l Jaiiuaiy 2019). RF,fiERLNCF. AND ADMINISTRA'fivE DETAILS Tlie trustees of the ¢l)arity, who have Iield officc siiice I September 2023. are as follows: P C Aston A Lewis C D l)arsons A Paterson A Turner (resigned 1210112024) {resigned I2JO112024) (resigned 0310412025) A Diffey was appoiiiled as trustee after 31 August 2024 but prior to the dale of this report. Tl)e pi'incipal address of Ilie eliai'ity is tlic offices of Hughes Travel Trust at Chancery House, 30 St Johns Road. Woking, Sui'rey, GU217SA. The cl)arity is registered undei. tlie Charity number 1038566. The trLlStees liave made the following professional appointments: Solicitor: Farrer & Co LLP, 66 Lincoli)'s Inn Fields, Loiidon WC2A 3LH Wilson Partners Liiiiiled, Chancery House. 30 St Johiis Road, Woking, Surrey GU217SA Accountant: Bankers: Lloyds TSB. 73-75 High Street, Staines, Middlesex TW18 4PP Handelsbanken, 2 Queens Square, Lyndhurst Road, Ascot, SL5 9FE s'rRucfuRE, GOVERNANCE AND MAIYACEMENT Status & History Hughe5 Ti'avel Trust was originally set up as a trust under a deed dated l June 1994 and becaiiic a registered cliarity on 13 Jun¢ 1994. Tlie charitable trust is governed by the rule5 and regulations set dowii in ils original trust deed dated l JLine 1994. Oi'gallisAtional Structure The overall strategic direetion of the Triist is detemiined by the trustees, who are also respoiisible for tlie day-to- day Inaiiagement of (lie cl)arity. Tlie Érustees work closely together. Iioldiiig meetings as iieeded aild otliei'wise keeping iii toucli willi one another tl)roLigli infornial discussions tliat take place eitlier face to face, over tlie teleplione, or by e-mail. Sub-coimmittees The Trust does not currently use sub-committees of the board of trustees to assist in ihe mwiagement of the cl)arity
IIUGHES TRAVEI L TRUSI. Page 2 TRUSTII ES. ANNUAL RCPOR'r foi. tlie yeAI' ended 31 August 2024 Metl)od of Reci'uitmeilt, Iiiduetioii & Ti'Aining of Trustees Reci'uilnienl Wliere additional or replacement trustees are needed. the existing ttustees will draw up a short list of coinpetent, experienced persons. Tl)is is assessed by reference to pei3onal business experience, current ti'usteesliips and any kiiowii expertise. References froni iiiipartial experienced elders amoii8 the Brethren are sought. Indiiclion & Ti'aining Ti'ustee indiiGtion is provided in a nieeting through a presentation by the existing tiustees setting out the following: Tlie objectives of ihe Ti'LlSt' Tlie terms of tlic trust deed- Tlie cliai'itable nature of Il)e Trnst's activities- Office procedures and respoiisibilities. Ti'ustee duties. Details of the exact role that the new trustee is expected to fulfil; and An assessiiient of any additional training thal may be requird. Additional training is provided either by one of the cxisling trustees or is outsourced where necessary. Policy foi. rejiiunei'Atiiig key m*nagem¢nt persoiiii¢l Tl)e Ii'iislees ivho are Ilie key Inanagement personnel iiiaii8ge tlie day to day operations of tlie Irust. Tliey receive no I'eii)uiiei'alion. Risk & Govei'nonce Matters The trustees are generally risk averse aild will try wlierevcr possible to ensure that the Trust fulfils its cliai'ilable objectives with a i)iininiuin possible exposure to risk. The trustees are coillinuing to document the cliarity's risk profile and to foriiialise their appioacli to risk Inanageiiient. Tliey liave already takcn sigi)ificant steps to address key financial risks ihi'ougl) updated systeins and controls.
HUGHES TRAVEL TRusr Page 3 'I'RUSI'EES' ANNUAL REI PORT for the yeai. ended 31 August 2024 I'i'ustees, Resi)oiisibilities in tlie PrepAration of Financial Statements The trustees are responsible for preparing the trustees. annual rew)it and the financial stalei)ients in ac¢oi'dance willi applicable law and United Kingdoni Accounting Standards (United Kingdom Generdlly Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to pi'epxi'e finaiicial stal¢ii)ei)Is foi. eacli finai)cial year whicl) give 8 Ii'ue aiid fair view of tli¢ slate of affairs of ilie cliarity and of tlie iiiconiing I'esources aiid appli¢ation of i'esoui'ccs of tlle cliarity for tliat pei'iod. Ii) preparing Iliose financial slatenienls, tl)e ti'iistees are required 10: select suitable accounting polieies and Il)en apply Illem consisteiitly: obsei've the iiietliods and principles in the Cliarilies SORP (FRS 102). make judgcn)eiits and estimates that al'e reasonable and prudent. slate wlietl)ei' applicable accounting standards llave been followed, subject to any material departures disclosed and explained in the financial stateiiieiits; and prepare the financial statements on the going concem basis unless it is inappropriate to presume tliat tlie cliarity will coiitinue in busiiiess. Tlie trustees are responsible for keeping proper accouiiling records Iliat disclose with reasoiiable accui'acy at ai)y tiiiie Ilie fiiiancial posilion of Ilie cliarity and enable Iliein to ensure tliat the financial stateinenls coiiiply will) tlie Cl)aritics A¢t 201 l aiid tlie provisioi)s of tlie trust deed. Tlley are also responsible for safeguarding Ilie assets of the charity aiid lieiice foi. taking reasonable steps for the pirvenlion and dete¢tioii of fiaud ld other iri'egularilies. OB,ILCTIVES AND AcfiviTIES ChAI'itable Objectives The cliaritable objectives for wliicli Ilie cliarity was eslablislied are the relief of poverty and sickiiess and tlie advaiicement of religion amongst tlie Brethren. Ch&i'itAble Activities Tlie ti'usl is no longer actively oi'gaiiisiiig travel arrangeinenls to aid the religious purposes of tlie Bretlii'en. Accoi'dingly. tl)e trustees coiilinually I'eview l)ow the trusi can best furtlier its cl)ai-ilablc objective, nai)iely 'The relief of poverty and sickness aild the advanceiiient of religion aniongsi the Bretliren." Gi'Allt MAking Policy Hiiglies Travel Ti'ust is not primarily a grant Inaking charity, however specific requesls foi. funding and assistance is considered on a case-by-case basis by the Iruste¢s. wlio make the filial decision regw'diiig ilie giving of aiiy granls. Repi'eseiitxtion on Other Bodies Tlie Ti'ust does iiot currently pursue its charitable objectives Illrougli representation oil w)y otliei. bodies.
IIUGHES TRAVLL TRUST Page 4 TRUSTEES, ANNUAL REI PORT foi. the yexi. ended 31 August 2024 OBJF,CTIVES AND ArfiviTIF.S (Continued) Public Benefit Tlie trustees have taken The Charity Commission's specific and general guidance on piiblic beiiefit (contained within the guidance publication 'The Advan¢einent of Religion for the Public Benefit" and witli the I'evised guidanee publication "Charities and Public Benefit") into coiisideration when VIewIng Ilieir aiins aiid objectives, and in planning their fure activilies. FINANCIAL REVIEW FillAnciAI Results of Aetivities & Events The Trust genei'aled lolal ii)coii)ing resources of £120,328 (Year ended 31 August 2023.. £96,659) and expended resources of £105.791 {Y¢ar ended 31 August 2023: £108.624), principally in respec¢ of providiiig fLlI)ding to support Ii'avel Costs lo aid the religious purposes of the Breiliren and making grants to cliarilable institutions. Futui'e developmeiits In 202312024 tlie trustees reviewed liow the Itvst can best further its ¢liarilable objective, namely 'The I'elief of poveity and sickness and the advanceinent of religion aniongst the Brethren" the ¢h81'ity will continue to provide furtding lo support travel cosls and iiiake gi'ants lo charitable institulioiis. GvAlIt M*kit)g In 202312024, the Ti'ust gave £iiil in granls (2022123: £nil) to cliaritable instittitions, see iiote 3. Fuiidi'Hising The Trustees take tlieir responsibility under tlie Cliarilies (Protectioi) and So¢ial Inve5tmeiit) Act 2016 sei'ioiisly and have considered tlle implication on their activities. Tl?¢ charity does not actively I'aise funds or solicit donations dircctly froin the general public. Tlie Cl)arity docs iiot WO directly wilh coi))Inei'cial spoiisors in relatioii to fuiidraisiiig. I'he Trustecs are not aware of any coniplaints made iii respcct of fundi'aising durii)g Ilie pei'iod. Resei'ves Policy The "fl'ee I'eseives" (general unrestricted fund less fixed assets) of tlie Charity at 31 August 2024 amounted lo £1,799,778 (31 August 2023: £1,785,241). It is Ilie trustees, view that il is prudenl to maintain that accuniulated level of free reserves wliilst tliey reflect oli hoiv best to furtl)er Ilie charitable objectives of Ilie trust.
HUGHES TRAVEI L TRuKr Page 5 TRUS'fEI ES, ANNUAL REPOR'r foi. tlie yeAr elided 31 August 2024 rINANCIAL RF.VIEW (Coiitinued) Investments Policy The Ii'ustees are empowered to invest any money that the Trust does not immediately need in such a Inai)nei' as they niay deterniine. In piactice, tl)e li'uslees historically held th¢ Trust's'free I'eserves" as cash in iiitcrest beai-iiig bai)k ac¢ounls to ei)sure Ilial SLifficient liquidity is iiiaintained to enable i)ayi)ieiit in advai)ce foi. charter fliglits as and wlien i-equiird, but also lo maxiinise returns upoii tliose cash fuiids in tlie sliort tei'm. The IrLlStees are considering options lo diversify Iheii. investmenls and seeking pi'udent investments to genei'&te a return on the rcseives wliilsl in this period of reflection. During 202312024, Ihe Trust's'free reserves" held as cash generated iiivestment incoine of £36,166 (202212023.. £15,684). Tliis report was approved by the truste&8 on 23 June 2025 and w&8 sigiied for and on behalf of Ilie boai'd by Cyril Parsons (Jun 23, 2025 18..25 GMT+il C D Paisons Tru51ee A I'urner Triistee
Page 6 INDLPLI NDEI NT LXAMINLR'S REPORT TO THE TRUSTEf.s Oi-, IIUGHES TRAVKL'fRUST Iiidepeiident exAniinei s I'epojl to the ti'ustees of Huglies Travel Ti'ust I repoit to ihe charity trustees on my examination of the accounts of14ughes Travel Trnst (tlie Ti'ust) for the yeai. ended 31 Aiigust 2024. Responsibilities and basis of report As the charity trustees of the Ti'ust you are responsible for die preparatioi) of the accounts in acco].dlce witl) tlie requirements of tlie Charities Act 2011 ('the Act.). l i'eport in respect of niy examination of ihe Trust's accounts carried out undei. section 145 of the Act and in cai'iying OLIt my examination I have followed all applicable Direclions given by tlle Cliw-ity Coinmission undei. section 145{5)(b) of tlie Act. Indepeiident examiners stitement I liavc coniplcted my exaniination. I confirn1 that no malerial matters liave come to iiiy atteiition li) coniie¢tion witl) Ilie exainiiialion givii)g me cause to believe Iliat in aiiy nialerial respe¢¢: tlie accoiinling records were not kept in accordance willi section l 30 of tlle Cliarities Acl; or tlie accounts did not accord with the accounting records. or tlie accounts did iiol comply willi Ilie applicable requirements concerning the foi'm and conlenl of ac¢ouiils sel out in the Cl)arities {A¢couiils and Reports) Regulations 2008 otlicr tllan aiiy requirciiiei)t Iliat Ilie accounts give a 'true and fair, view which is not a matler considered as pait of an independent examination. tl)c accouiils l)ave not been prepai'ed iii accoi'dance wilh Ilie meiliods aiid principles of Ilie Stateineiit of Reeoinineiided Practice for accouiilii)g aiid repoiting by cllaritics (applicable to cl)ai'itie5 pi'ei)ai'ing Ilieii. accouiils iii ac¢oi'dance with Ilie Financial Reporting Siaiidard applicable in the UK and Republic of Ireland (FRS 102)). liave no conceins and hav¢ coiiie across no oiher niatters in conneclion will) Ihe exainiiialion lo wliicli attention sliould be drawn in this report in order to enable a proper understanding of Ille accounls to be reaclied. Aiidi'ew Carpei)ler Wilson Partners Limited Cl)aiicery House 30 St Johns Road Wokii)g, Surrey GU217SA Date: 23 June 2025
IIUGHES TRAVEL TRUST Page 7 S1'ATEMFN1' OP FINANCIAL AcfiviTIFS foi. tlie yeAI' ended 31 August 2024 Total foi. tlie yeai. ended Uni'estrietcd Resti-icted 31 August funds (uiids 2024 Total foi. Ilie yeAI' eiideil 31 August 2023 Notes INCOME Donations Invcslmenl income Ineuine fi'oiii cliAritAble xctivilies Piovision of li'avel ai'rangements lo aid the religious purposes of the Bretlii'en 886 36,166 886 36,166 886 15,684 83,276 83.276 80,089 TOTAL INCOME 120,328 120.328 96.659 I XPENDITURE Cliai'itxl)le activities Provisioi) of travel arrangeiiieiils lo aid Ilic I'eligious purposes of Ilie Bretl)ren Gi'ants given Oil)er 83.276 83,276 76,721 22.516 22.516 31,903 TOTAL EXPF,NDITURE 105,791 105,791 108,624 NEI. INCOME AND NLT MOVEMENT IN fiUNDS 14,537 14,537 (11,965) Rfi CONCIL.IAI'ION OF fuNDS Fiiiid balances biDiigl)t forward at I Septciiiber 2023 1,785.241 ,785,241 1,797,206 FIIND BALANcf.s CARRIF.D TrORWARD A'f 31 Augiist 2024 1,799,778 1,799,778 £ 1,785,241 Tl)e nel Inovement in funds for the year arises froin the ¢harity's continuing aclivilies.
IIUGIIES I'RAVEI l. TRusr Page 8 I'RUSI. BALANcf. SHEET as at 31 August 2024 31 August 31 August 2024 2023 Notes CURRLNT ASSETS Debtoi's Cash at baiik and in hand 165.348 1,656,791 72,422 1,770,597 1,822,139 1,843,019 CURREI NT LIABII,ITIES Crediloi's: Ainouiits falliiig due witliin one year 22,361 57,778 NE'f CURRENT ASSETS 1,799.778 ,785.241 TOTAL ASSETS LESS CURRENT LIABILITIF.S 1,799,778 1,785.241 NET ASSETS £ 1,799,778 £ 1,785,241 Tiic fi UNDS OF THL CFIARITY UElI'esti'icted illcoine funds Geii¢ral Fuild 10 ,799,778 1,785,241 TOTAL CHARITY FUNDS 10 £ 1,799,778 £ 1,785,241 Tlie finanrial statements on pages 7 to14 were approved by the trustees and autliorised foi. issue on 23 June 2025, and are signed on Il)eir belialf by C D Paisons Ti'uslee A Turner Tiwstee
HUGHES I'RAVEI l. TRusr Page 9 FinAiicial stateinents for thc yeAI' ended 31 Augusi 2024 ACCOUNTING POLICIES BASIS or ACCOUN'fING The finanei&l stateinents have been prepared under ilie liistorical cost convention witli iteiiis i'ccognised at cost oi. transaction value unless otherwise stated in the i'elevant notes to Iliese ac¢oiints. The financial slateiiienls liave been prepared iii accordance witli the Stateinent of Recominended Prnclice: A¢counlii)g and Rei)ortiiig by Cliarities pr¢pai'ing tlieir accounts in accordance with the l-, iiiancial Rcporling Siandard 8pplicable in the UIC and R¢piiblic of Ii'eland (fRS 102) (second edilioii October 2019) and the Finaiicial Reportiiig Standard applicable in the United Kiiigdoni and Republic of Ireland (FRS 102) aiid the Charilies Act 2011. Tl)e Charity constitutes a public benefit entity as defined by FRS102. The financial slalciiienls are prepared in sterling, which is the funetional currency of the Cliai'ity. Monetary aniounts iii these financial staleinciils are rouiidcd lo the nearest £. At the liiiie of approvii)g the financial slatei)ients. the trustees Iiave a reasonable expectation that thc Charity has adequate I'esources lo continue in operational existeiice for tlie foreseeable fuiure wliilst Iliey r¢flccl on lioiv best to furtl)er Ilie cl)ai'itable objcctive of tlic trust. T1ius Ilie Trustees conliiiue to adopt the going Coiicem basis of accountiiig in prepariiig tl)e financial statenients. INCOME Gi'ants. donations and other siinilar types of volunlaiy incoine 81'e biuiiglil inlo account wl)en iliere is entitlcinenl. except tlial donated iiicome is iiicluded gross of any altribulable tax recoverable, wliere relcvai)t. Donatioils given foi. specific pui'poses are trealed as restricted iiiconie. All otlier types of inconie are also accounted for on an accruals basis. EXPENI)ITURK Expendilui'e is allocated to the charity's principal activities wliere the costs can be identified as being dii'ectly rel£ltcd to tlial activity. All costs Il)at cannot be ideiilificd as rclating directly to Ilie cliarity's principal activities are catcgyoi'ised as either support costs or governance costs. Any cosls that cani)ot be specifically categoi'ised are allocated in proporlions based upon a suitable ratio applicable to the nature of the cost involved. Goveniance costs include the costs of iiiaintaining the charity as a legal entity sucli as audit fees, costs of tnjslees meetings and oiller costs incurred complying witli slatuiory ttquireiiients. Gi'ants payable are recognised in the period in wlii¢l) tlie approved ofTer is conveyed to the I'ecipient excepl in tl)ose Gases wliere Ilie offer is conditional and the conditions are uiider tlie chai'ity's control. sucl) gi'ants beii)g recognised only wlien the conditions attacliiiig to the awai'd are fulfilled. Graiils offered subject lo sucli ¢ondilions, wliich l)ave not been met at the balance sl)eet date, are noted as a potential coniniitiiieiit, bul are not Ii'eated as 3 liability. riORF.IGN CURREI NCIES Transactioiis denoniinated in foirign cunrn¢ies are recoi'ded using tlie rate of excliange I'uling at tlie date of (lie Ii'ansaction. Monetary assets and liabilities denoininatcd iii foreign currencies ai'c translated iisiiig tlie rate of exchange ruling at the balance sheet dale. All excliang¢ gains or losses arc included in tlie statcinent of financial activities in the pei'iod to wliicli Iliey relate.
FIUGiif.s TRAVF,L"I'RUST 'ag¢ 10 iinAiieial stAteineiits foi. tlie yeai- ended 31 August 2024 ACCOUNI'ING POLICIES FUND ACCOUNTING The general fLind ¢onipi'ise5 the accumiilated surpluses of unreslricled inconiing resources over resources ¢xpended, which al'e available for use in fiirtlierance of the general objective of ihe charity. Designated fui)ds are a particular form of unrestricted funds consisting of amounts, which l)ave been allocated or desigi)aled for specifie purposes by the trustees. The use of designated funds reniains at the discietion of the trustees. Restricted fund5 are funds Subject to specific conditions iinposed by donors. The purpose and use of11)e restricted funds are set oiit in the notes to the accounts. Amounts unspent al tlie year end are carried forward in tli¢ balance sheet. FIINANCIAL INSTRUMF,N'rs The chai'ity l)as finaiicial assels and financial liabilities of a kind that qualify as basic financial instruiiieiits. Fiiiancial iiislrunients are recognised in the cl)arity's slateinent of finaiicial position when the cl)arity becoiiies party to tlie contractual provisions of the Inslruinent. Basicfiiiancial insli'iiiiienls Basic financial instl'Limenls are recognised inilially in tlie accounts at transaction price, incliiding any transaction cosls. At the ciid of eacli ac¢ountiiig period, basi¢ finaiicial instruinei)ts are recognised al ainorlised cost. foi. debt instrunienls Il)is is ¢aleulatcd using Ilie effective iiiterest rale method.
IIUGHES TRAVII L TRUST Pagell NOTES'fo THf FINANCIAL STATEMENTS for the year en(led 31 August 2024 Total foi. tlie yea r ended Unrestt'ietcd Resti'icted 31 Augiisl funds funds 2024 Total foi. tlie yeAI' ellded 31 Augiisl 2023 DONATIONS Donations and otlier siniilar incoiiie £ 886 £886 886 INVESTMENT INCOME Bank iiilerest receivable on shoil tenn casl) dcposils 36.166 36,166 15,684 £36,166 £36,166 15,684 INCOMI,: FROM TIIE PROVISION OF TRAVEL ARRANGEMENTS Ti'avel arran8emen¢ in¢oi)ie 83,276 83,276 80,089 £ 83,276 £ 83,276 £ 80,089 TutAI foi. tlic yeai. eJi(led Unrestricted Resti'icted 31 August funds fuiids 2024 Total for 11)e yeai, eiiiled 31 Augiist 2023 GRAN'I'S GIVEN Gi'ants given to institutions: Gospcl Hall Ti'usts
HUGIIIS TRAVEL TRusr Page 12 NOTES TO THE FINANCIAL STATEMENTS foi. tlie year eii<le(131 August 2024 I'otal foy tlle yeai. endeil Suppoit Governance 31 August costs costs 2024 TotAI foi, tlie yeAI' en(leil 31 August 2023 SUPPORT & GOVERNANCE cos'rs Legal and profcssioiial Accounlaiicy and advisory Exchange lossesl(gains) Telepl)one Postage, printing and stationery Coinpiiter cxpeiises and siipport Moloi., Ii'avel, rooin hire and subsistence Bank charges Oilier office costs 7.200 7,200 18,600 (8) 4,180 5,131 5.131 6,791 1,658 ,221 515 6,791 1.658 1,221 515 5,614 2,351 919 247 £ 15,316 £ 7,200 £ 22,516 £31,903 Yeai. eiided 31 August 2024 YeAr ended 31 August 2023 STAFF COSTS The avci'age moi)Ilily number of peisons employed by Ihe charity (excluding Ii'uslees) diii'ing tlie year was, as follows.. Adininislralive staff Tlie Iriistees received no rei))unernlioii for tlieir seivices to tlie cliarity or its subsidiary diii'iiig tlie ciiri'enl oi. prcvioiis yeRr. Tnistees received reimbursement for expenses incurird oil b¢half of tlie cliai'ity dui-iiig tlie yeai. of £3.940 (2023: £460). Diiring tlie yeai. the cliarily settled personal cxpenditui'e of £25.142 (2023: £19.802) on bel)alf of a trustee. At the ycar eiid tl)e Iruslee owed tlie charity £44,944 {2023 £19,802). Tliis ai)iouiit has been I'epaid in full after the year end witli interest charged at HMRC'S olficial rate. T]ie trustees are tlie only key maiiagement personnel.
HUGHES TRAVEL TRusr Page 13 NO'I'LI S TO THr. r4INANCIAL STATEMENTS foi. tlie yeAI' elided 3J August 2024 DLB'foRS 31 Au%ust 31 August 2024 2023 Ainounls falling due within one year.. Ti'ade debtors Oilier debloi's 39,805 125.543 26,595 45,827 £ 165,348 £ 72,422 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YLAR 31 August 31 August 2024 2023 Aiiiounls falling due within one year: Trade Creditors Oilier ci'edit018 Accruals 3,420 26,278 28,080 1,411 20.950 £ 22.361 £ 57,778 TIIE FUNDS OF THE CHARITY Tr8n5fei beliveeii fuiids I September 2023 Ineojiiiiig Outgoiiig i'esoui'ces i*soui'ees 31 August 2024 Unresti'ieted iiieoiiie fun(Js: General Fund 1,785.241 120,328 (105,791) 1,799,778 TOTAL FUNDS £ 1,785,241 £ 120,328 £(105,791) £ 1,799,778 10. ANAI.,YSIS OF NET ASSF.'rs BETWEEN FUNDS Net curi'eiit assets Fixed assels Provisions TotAI Uiii'estricted income funds: Genci'al Fui)d 1,799.778 1,799,778 TOTAL FUNDS £1,799.778 £ 1,799,778
HUGHLS TRAVEL TRUS'r Page 14 NOTF,S TO TIIE filNANCIAL STA'I'EMENTS foi. tlie year elided 31 Augu.st 2024 COMPARAI'IVE STATEMENI. OF FINANCIAL ACTlVI'fiES Tolal fol. Ilic yeat. eildod 31 August 2023 Uijresti-icted Restricted funds funds INCOMF, Donations Invcslii)enl incoi)Ic Incoine fi'oin eliaritable activities Provisioii of travel arrai)gemenls to aid the religious purposes of the Breil)ren 886 15,684 886 15,684 80,089 80,089 TOTAL INCOME 96.659 96,659 EXPF,NDEDITURF. ClIAritAblc iqctivities Pi'ovisioi) of ti'avcl ai'rangements lo aid the religious piirposes of Il)e Brethren Gi'ants given Otl)ei' 76.721 76,721 31,903 31,903 TOTAL EXPENDEDITURE 108,624 108,624 NEI. INCOME AND NF.T MOVIMENT IN b'UNDS (11,965) (11,965) Rfi CONCILIATION OF FUNDS Fuiid balaiiccs bioiiglit foi'ward al I Septeniber 2022 1,797,206 1,797.206 FUND BALANCES CARRIED bORWARD At 31 August 2023 1.785,241 1,785,241