Charity registration number: 1044243 Willows Educare - Heamoor Pre-school Playgroup Annual Retv)rt and Financial Statements for the Year Ended 31 July 2024
Willows Educare - Heamoor Pre-school Playgroup Contents (continued) Reference and Administrative Details Trustees, Report 2to4 statement of Trustees, Responsibilities Independent Examiner's Report Statement of Financial Activities 7t08 Balance Sheet Notes to the Financial Statements ioto19
Willows Educare - Heamoor Pre-school Playgroup Reference and Administrative Details Charity Registration Number 1044243 Principal Office clo Heamoor CP School Bosvenna Way Heamoor Penzance TR18 3JZ Trustees Chris Andrews Jessica Jackson Susan Oliver All Brighton Emma Withecombe Key Management Personnel Sara Mitchell, Nursery Manager Tracy Cole, Office Manager Independent Examiner N A Hallam FCCA Crane & Johnston Chartered Certified Accountants 11 Alverton Terrace Penzance Cornwall TR18 4JH Solicitors CVC Solicitors Unit N, Questmap Business Park Longrock Industrial Estate Penzance Cornwall TR20 8AS Bankers Santander Bridle Road, Bootle Merseyside GIR OAA Page I
Willows Educare- Heamoor Pre-school Playgroup Trustees. Report The Charity registered with the Charity Commi55ion under number 1044243 on 17th February 1995 and is governed by its constitution which 15 implemented by the Trustees. The charity's main objectives are to enhance the development and education of children primarily under statutory schoo5 age by encouraging parents to understand and provide for the needs of their children through community groups. The Charity is a body in membership of the Pre-school Learning Alliance. The Pre-school Learning Alliance is a national organisation registered a5 an educational charity providing 5UPPOrt for the setting up and running of pre-school playgroup5. GOVERNANCE The adopted governing document of the Heamoor Pre - School Group (known as Willows) 15 the constitution of the Pre - School Learning Allian of which the pre - school is a member. At least 60 % of the Committee members, including co-opted members, shall at the time of elertion or co-option be parents or guardians of children in the groups run by the pre school. In the event that this 600/0 figure cannot be achieved the pre - school may elect other members who are not parents or guardians to the Committee subject to each of those other members being approved by the local Branch Executive. All parents and guardians of children of the group are invited before the AGM to stand for election. Any resigning offirS will attend the first meeting following the AGM to ensure the induction of new members. Training is available but not obligatory. There is no obligation by any other person or external body to appoint one or more Trustees The responsibility of the Trustees is to ensure that the pre - school complie5 With its aims and is properly managed. The responsibility for the day to day running of the group and decisions regarding everyday matters are undertaken by the Nursery Manager and Office Manager. Decisions regarding the specific delivery of the Early Years curriculum are the responsibility of the Supervisors and Nursery Manager. As a member of The Pre - School Learning Allian the group is required to consult the PLA if any changes are to be made to the aim of the group or if the existen of the group is to be terminated. It is the legal duty of the PLA to consult the Charity Commission. The group is registered with OFsfED and receives funding from the government for some 9 month to 2 year olds and all 3-4 year olds to attend sessions free of charge. To be eligible to receive this funding the group must meet minimum standards required under the Childcare Act 2006. The administration of the government funding is by the Family servi Department at Cornwall Council who also provide support and advice to ensure groups meet national standards. The group is registered with both OFSfED and the Charity Commission; the Trustees, have a responsibility to keep the records they hold up to date notifying any changes in Governancetrrustees, The administration of accounts is completed by the offi Manager and overseen by the Treasurer. The Trustees approve invoices and sign them off each month. A trial balance and Account balances are available at all Committee meetings. The bank holds details for the Chair, Treasurer, offi Manager and Deputy Office Manager. The Office Manager and Deputy Office Manager have full access to online banking and the OfFice Manager holds a Debit Card for each Bank Account. Page 2
Willows Educare- Heamoor Pre-school Playgroup Trustees, Report (continued) The Committee is consulted on all large expenditure that is not part of the general expenses required to run the group on a day-to-day basis. The Trustees assess the major risks to which the Charity is exposed and are satisfied that the systems are in place to mitigate exposure to those risks. AIMS AND OBJECTIVES The aim of the pre - school is to enhan the development of children primarily under statutory school age by encouraging parents to understand and provide for the needs of their children through community group5 and by: The aim of the pre school is to enhance the development of children primarily under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups and by: Offering appropriate play facilities and access to information which offer parents the opportunity to take responsibility for and to become involved in the activities of such groups, ensuring that such groups offer oppotknnities for all children whatever race, culture, religion, means or ability. Encouraging the study of the needs of all children and their families and promoting public interest in and recognition of their needs in the local area. In addition, the group usually offers B) work placements for students wishing to complete appropriate qualifications in early years and require practical experience. This is done on a voluntary basis by the students. The total number of volunteer hours in a year can be around 1500-2000 hours. ACHIEVEMENTS AND PERFORMANCE Willows Pre- School is run-in purpose-built accommodation on the site of Heamoor Community Primary School. It offers funded preschool sessions as well as daycare for O-5-year-old children. In addition, it a150 provides a holiday and after school club for children up to the age of 12 years. It is open between the hours of 0800 and 17.30 from Monday - Friday except for public holiday5 and one week over the Christmas period. Willows Pre - School is run-in purp05e-built accommodation on the site of Heamoor Community Primary School. It offers funded preschool sessions as well as daycare for fv5-year-old children. A) In addition, it also provides a holiday and after school club for children up to the age of 12 years. It is open between the hours of 0800 and 17.30 from Monday - Friday except for public holidays and one week over the Christmas period. The group employs qualified staff members to meet the requirements of the Statutory B) Framework for the Early Years Foundation Stage but also has parent volunteer help for the Committee, for outings and fundraising activities for the group. This academic year, the setting has been able to successfully continue after-school and holiday clubs. It has also been able to offer student work experience and college student plaMents. Tinker tots the mother and toddler group continues to grow and is hugely popular within the wider community. Sessions run twice weekly during term time and due to demand also run On a week during School holidays. Willows provide one qualified staff member from the setting to run the group with the alstanCe of a few willing volunteers from the local community. Fundraising was very successful with excellent staff and parent responses. A summer fayre took take place on June 22nd 2024. Willows reiVed one donation from a local masonic lodge. Willows were successful with Tesco Stronger Starts and have been awarded a sum of £1,500 which will be awarded in December. Page 3
Willows Educare - Heamoor Pre-school Playgroup Trustees. Report (continued) Christmas mince pie and disco wine evening which has proved to be a very lucrative fundraising event in previous years is expected to take pla in December and details of which are already being discussed at committee meetings. Staffing continues to be the highest expenditure in terms of outgoings however it is the unanimous opinion of the committee that staff are well paid in accordance with their relevant qualifications and experience and this is reflected in the high quality of care received by the children and the continuing satisfaction of parents. SUMMARY After a challenging year due to the cost-of-living crisis staff and management have worked tirelessly to ensure the high-quality care received continues and Willows remain to be held in high regard within the wider community, with a healthy waiting list. FINANCIAL REVIEW Total receipts on unrestricted funds were £335,306, which included fees of £103,894 and Local Authority funding of £208,217. Unrestricted expenditure was £338,546, giving rise to a deficit of £3,240 for the year. The pre-school's unrestricted net current assets at 3 1st July 2024 were £78,281. Of these, £40,000 represented designated funds, as described below, leaving net current assets in general funds of £38,281. This is less than the optimal £75,000 described in the reserves policy, below, and the Trustees are aware of the need to take active steps to restore the charity's net income to a surplus in the very near future. The Trustees are satisfied that progre55 is being made and the charity continues to be able to meet its liabilities as they fall due and can therefore be regarded as a going COnrn. RESERVES POLICY It is the policy of the trustees to hold as unrestricted funds a balan which equates to a minimum of three months unrestricted expenditure, which will be equivalent to £75,000, together with such extra fund5 as might be necessary to cover emergency situations that may arise. In addition to this are unrestricted designated funds of £25,000 to cover redundancy costs should they be necessary, £10,000 for major repairs and £5,000 earmarked to replace the minibus when required. The annual report was approved by the trustees of the charity on 22 November 2024 and signed on its behalf by: Susan Oliver Trustee Page 4
Willows Educare- Heamoor Pre-school Playgroup Statement of Trustees. Responsibilities The trustees are responsible for preparing the trustee5' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistentlyi observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent. state whether applicable 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 conrn basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that 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 Att 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the trustees of the charity on 22 November 2024 and signed on its behalf by: Susan Oliver Trustee Page 5
Willows Educare - Heamoor Pre-school Playgroup Independent Examiner's Report to the trustees of Willows Educare- Heamoor Pre-school Playgroup I report to the trustees on my examination of the accounts of Willows Educare - Heamoor Pre-school Playgroup for the year ended 31 July 2024. Responsibilities and basis of report As the charity trustees of Willows Educare - Heamoor Pre-school Playgroup you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 Cthe Act,). I report in respect of my examination of the Willow5 Educare Heamoor Pre-school Playgroup's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examinerfs Statement Since Willows Educare Heamoor Pre-school Playgroup's gross income exeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Att. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. l. accounting records were not kept in respect of Willows Educare - Heamoor Pre-school Playgroup as required by section 130 of the Act; or 2. the account5 do not accord with those records. or 3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Account5 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. N A Hallam FCCA Crane & Johnston Chartered Certified Accountants I l Alverton Terrace Penzance Cornwall TR18 4JH 28 November 2024 Page 6
Willows Educare - Heamoor Pre-school Playgroup Statement of Financial Activities for the Year Ended 31 July 2024 Total 2024 Unrestricted Restricted Note Income and Endowments from: Charitable activities other trading activities 332,314 332,314 Total income 335 306 335 306 Expenditure on: Charitable activities 338 546 338 546 Total expenditure 338 546 338 546 Net expenditure Gross transfers between funds (3,240) (3,240) Net movement in funds 4,560 (7,800) (3,240) Reconciliation of funds Total funds brought fOard 112 721 Total funds carried forward 15 109 481 The notes on pages 10 to 19 form an integral part of these financial statements. Page 7
Willows Educare - Heamoor Pre-school Playgroup statement of Financial Activities for the Year Ended 31 July 2024 (continued) Prior year Unrestricted funds Restricted funds Total 2023 Note Income and Endowments from: Voluntary income - donations Charitable activities Other trading artivities 1,500 282,759 1,500 282,759 Total income 285 986 285 986 Expenditure on: Charitable activities Total expenditure 300 804 Net expenditure Gross transfers beeen funds (14,818) (14,818) Net movement in funds (6,043) (8,775) (14,818) Reconciliation of funds Total funds brought forward 127 539 Total funds carried forward 15 112 721 The notes on pages 10 to 19 form an integral part of these financial statements. Page 8
Willows Educare - Heamoor Pre-school Playgroup (Registration number: 1044243) Balance Sheet as at 31 July 2024 2024 2023 Note Fixed assets Tangible assets li 66,940 79,130 Current assets Debtors Cash at bank and in hand 12 11,853 12,365 52, 140 39,276 Creditors: Amounts falling due within one year 13 Net current assets Net assets 109 481 112 721 Funds of the charity: Restricted income funds Restricted funds 31,200 39,000 Unrestricted income funds Unrestricted fund5 Total funds 15 109 481 112 721 The financial statements on pages 7 to 19 were approved by the trustees, and authorised for issue on 22 November 2024 and signed on their behalf by: Susan Oliver Trustee mma WithecDm Trustee The notes on pages 10 to 19 form an integral part of these financial statements. Page 9
Willows Educare - Heamoor Pre-school Playgroup Notes to the Financial Statements for the Year Ended 31 July 2024 l Accounting policies Statement of compliance The financial statements have been prepared in accordan with the second edition of the Charities statement of Recommended Prattice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. Basis of preparation Willows Educare - Heamoor Pre-school Playgroup meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. Going concern The trustees consider that there are no material unrtaIntieS about the charity's ability to continue as a going concern. Income and endowments Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability. Donations and legacies Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be direttly attributed to particular headings they have been allocated on a basis consistent with the use of reSoUrs, with central staff costs allocated on the ba515 of time spent, and depreciation charges allocated on the PM)rtion of the assevs use. Other 5UPPOrt costs are allocated based on the spread of staff costs. All resources expended are inclusive of irrecoverable VAT. Charitable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Page 10
Willows Educare - Heamoor Pre-school Playgroup Notes to the Financial Statements for the Year Ended 31 July 2024 (continued) Support costs Support Costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time Spent and other costs by their usage. Governance costs These include the costs attributable to the charivs Complian with constitutional and statutory requirements, including audit, strategic management and trustees meeting5 and reimbursed expenses. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finan Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed assets costing £100.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Asset class Depreciation method and rate 200/0 per annum on a reducing balance basis 250/0 per annum on a reducing balance basis 40h per annum on a straight line basis Furniture and equipment Computer5 and motor vehicles Leasehold buildings Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction pri. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the re1vableS. Page 11
Willows Educare- Heamoor Pre-school Playgroup Notes to the Financial Statements for the Year Ended 31 July 2024 (continued) Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least tMelve 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 non-current liabilities. Trade creditors are recognised initially at the transaction Pri and subsequently measured at amortised cost using the effective interest method. Fund structu Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objertives of the charity. Designated fund5 are unrestricted funds Set aside for specific purposes at the discretion of the trustees. Restricted income funds are those donated for use in a particular area or for specific purpose5, the use of which is restricted to that area or purpose. Financial instruments Classification Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Page 12
Willows Educare - Heamoor Pre-school Playgroup Notes to the Financial Statements for the Year Ended 31 July 2024 (continued) Recognition and measurement All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contrattual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, Canlled or expires. 2 Income from donations and legacies Total 2024 Total 2023 Voluntary Income Donations 3 Income from charitable activities Unrestricted funds General Total 2024 Total 2023 After school club Early years funding Fees Holiday club Other operating income School dinners 10,333 208,217 89,769 7,819 12,384 10,333 208,217 89,769 7,819 12,384 9,554 156,654 97,466 7,276 3,017 332 314 332 314 282 759 Page 13
Willows Educare - Heamoor Pre-school Playgroup Notes to the Financial Statements for the Year Ended 31 July 2024 (continued) 4 Income from other trading activities Unrestricted funds General Total funds Total 2023 Fundraising Page 14
Willows Educare- Heamoor Pre-school Playgroup Notes to the Financial Statements for the Year Ended 31 July 2024 (continued) 5 Expenditure on charitable activities Day care 2 - 14 years: Unrestricted funds General Total 2024 Total 2023 Note Salaries Premises costs Toys and Equipment Refreshments and consumables Telephone and stationery Sundries Allocated support costs Governance costs 207,811 22,509 438 13,679 1,551 4,457 81,048 207,811 22,509 438 13,679 1,551 4,457 81,048 194,516 21,562 612 9,689 1,435 4,802 62,306 338 546 338 546 300 804 6 Analysis of governance and support costs Total 2024 Total 2023 Allocated support costs Salaries Premises costs Other costs 68,442 4,479 51,606 3,738 Governan costs Total 2024 Total 2023 staff costs Wages and salaries Independent examiner fees Examination of the financial statements 4,7+1 3,896 1,986 Page 15
Willows Educare - Heamoor Pre-school Playgroup Notes to the Financial Statements for the Year Ended 31 July 2024 (continued) 7 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year or prior year. No trustees have received any reimbursed expenses from the charity during the year or prior year. 8 Staff costs Total 2024 Total 2023 Analysis of staff costs Wages and salaries Employers National Insurance Employers pension costs Training costs 262,623 14,141 4,099 134 280 997 234,840 11,019 3,312 846 250 017 The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows: 2024 No 2023 No Activities to further the charities objectives Management and administration 11 12 13 14 No employee received emoluments of more than £60,000 during the year. The total employee benefits of the key management personnel of the charity were £73,186 (2023 £61,069}. 9 Independent examiner's remuneration 2024 2023 Examination of the financial statements 2,309 Page 16
Willows Educare- Heamoor Pre-school Playgroup Notes to the Financial Statements for the Year Ended 31 July 2024 (continued) IOTaxation The charity is a registered charity and is therefore exempt from taxation. IITangible fixed a55ets Land and buildings Furniture and equipment Motor vehicles Total Cost At l August 2023 Additions 287,216 40,287 150 7,918 335,421 150 At 31 July 2024 287 216 335 571 Depreciation At l AugLtst 2023 Charge for the year 211,726 38,056 499 6,509 352 256,291 At 31 July 2024 223 215 268 631 Net book value At 31 July 2024 At 31 July 2023 12 Debtors 2024 2023 Trade debtors 9,814 2,039 9,956 1,889 520 Prepayments other debtors 13 Creditors: amounts falling due within one year 2024 2023 Trade creditors Other taxation and social security Other creditors Accruals 117 484 2,408 807 5,498 1,896 Page 17
Willows Educare - Heamoor Pre-school Playgroup Notes to the Financial Statements for the Year Ended 31 July 2024 (continued) 14Contingent liabilities Penwith District Council requires a legal charge over the building5 which will expire in 2029. Should the Charity dispose of the buildings or alter the use, the grants of £55,000 from the neighbourhood Renewal and £50,000 from Single Regeneration Budget may need to be repaid out of the proceeds, together with any increase in capital value attributed to the funding. Cornwall Council leases the land to the charity at a peppercorn rent, the lease expires in 2027. 15 Funds Balance at I Incoming Resources August 2023 resources expended Balance at Transfers 31 July 2024 Unrestricted funds General 335 306 Unrestricted designated funds Redundancy fund Minibus fund Maintenance fund 25,000 5,000 25,000 5,000 Designated Total unrestricted funds New building fund 73,721 335,306 (338,546) 7,800 78,281 Total funds Prior year 112 721 335 306 338 546 109 481 Balance at I Incoming Resources August 2022 resources expended Balance at Transfers 31 July 2023 Unrestricted funds General 285 986 300 804 Unrestricted designated funds Redundancy fund Minibus fund Maintenance fund 25,000 5,000 25,000 5,000 Designated Page 18
Willows Educare - Heamoor Pre-school Playgroup Notes to the Financial Statements for the Year Ended 31 July 2024 (continued) Balance at I Incoming Resources Balance at August 2022 resources expended Transfers 31 July 2023 Total unrestricted funds New building fund 79,764 285,986 (300,804) 8,775 73,721 Total funds 127 539 285 986 300 804 112 721 The specific purposes for which the funds are to be applied are as follows: Designated funds are to meet unexpected contingencies should they arise. The New Building Fund was for the construction of new premises and is written off in line with depreciation. 16 Analysis of net assets between funds Unrestricted funds General Total funds at 31 July 2024 Restricted funds Tangible fixed assets Current assets Current liabilities 35,740 52,140 31,200 66,940 52,140 Total net assets 109 481 Total funds at 31 July 2023 Unrestricted funds General Restricted funds Tangible fixed assets Current assets Current liabilities 40,130 39,276 39,000 79,130 39,276 Total net assets 112 721 Page 19