PILANDS WOOD COIVIMUNITY ASSOCIATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 REGISTERED cHARy NUMBER: 1049953
P]LANDS WOOD CONMJNITY ASSOCIATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS Page Report of the Management C01ttee Independent Ex8n)inerfs Report Statement of Fin2ncial Activities Balance Sheet 10 Notes to the Financial Statements THE FOLLOWING PAGES ARE FOR MANAGEMENT PURPOSES ONLY: Detailed Income and Expenditure Account 18
PJLANDS WOOD COMMUNTTY ASSOCIATION Page I REPORT OF THE MANAGEMENT COMMITTEE FOR THE YEAR ENDED 31 MARCH 2024 The Management Conimittee is pleased to present its annual Report and Financial Statements of the charity for the year ended 31 March 2024. The Financial Statements have b¢en prepared in accordance with the aCCou1n8 policies set out in note I to the Financial StatenKnts and compty with the clwity's tsust deed, the Charities Act 2011 and Accounting and Reporting by Chariti&s: Statement of Recommended Practice applicable to charities preparing their Financial Statement in accoNlaDce with the Financial Reporting Standa applicable in the UK and Republic of Ireland (FRS 102). REFERENCE AND ADMtNISTRATIVE INFORMATION PRINCIPAL OFFICE: Pilands Wood Comm• As%)ciation Pilands Wood Centre Chamberlayne Road Bursledon Hanysbire S0199RH TRUSTEES: The Managcment Committee is a combination of officers elected from its members; a representative from eacb Pilands Wood Community A&8ociation Section and a representative of affiliated user groups. as well as zepresentatives of local authorities 8nd other community bodies, such &8 the local Churc council officers and ¢lected councilloTS from the are& The trustees who served duzing the year aR: Belinda Murrny A management committee ova3een by tbe local council. INDEPENDENT EXAMINERS: Abraham & Dobell 230 ShiIley Road Southampton S015 3HR
PILANDS WOOD COMMUNTfY ASSOCIATION Page 2 REPORT OF THE MANAGEMENT COMMfITEE (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEF The association's objects and principal activities are: To encourage those living in the area of benefit to use the centre as a step up to learning skills, a sprlngboard to employment, to develop social and interactive skills and pursue hobbies and interests. To obtain sufficient funds from lettings to meet the fmancial requirements to keep the building m good repair. pay staff to run the centre and assist in the funding of projects. The main areas of charitable activity are: Letting of the centre to a day centreg presehoolg groups and clubs. Centre assisted fulldillg of a play group. Cornmunity shop. Community Pantry Comrnunity events Hosting community parthe. Publle Beneflt Statsment Our nIll activities and who we try to help are descnbed above. All of our activities are underta to further our charitable poseS for the public benefit. In shaping our objectives and planning our activities. the Management Con)mittee considered the Charity Conllnission's guidance on public benefit including th¢ guidance 'Public Benefit: Running a Charity (PB2)'. ACHIEVEMENTS AND PERFORMAI¥4CES The centre has continued running the rA)mmunity panty to provide Iow-COSt food to the area of benefit. The kitchen has been fitted to enable a lunch club and held community event4 e.g. Christmas Fair. The creation of a smaller meeting room has allowed for an inwroved area for advice sessions. The centre bosted a community shop and community pallty, and regular hires, including a dance and sports club, a prescbool, a rehabilitation exercise class, a lunch club, a youth club and other con]Inuillty wup4 plus private hires. The Charity has b¢en impacted by antisocial behaviour and th¢ cost-of-]iving crisis. The centre has had fewer hires compared to before th¢ crisis. The Charity would ]ffte to thank the BHH local area committee, Becky Wiseman, Ross Mcclean. 8JKI Jo Calcutt for th¢ir support in enabling a kitchen refit. Th¢ kitchen refurbishment was funded by the UK Shared Prospetity Fund to allow community groups to access better facilities when using the venue? wecially th¢ lunch club and community cookery classes.
Page 3 PILANDS WOOD COMM[ITy ASSOCIATIO REPORT OF TBI MANAGElbIENT COMMTEE (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENTS AND PERFORMANCES {CONTINUED) Pilands Wood Community AOciation would also I¢ to tbank the UK Government. Household Support fund distnTrJuted by Hampshire County Council for their support to estab]ishment and continued running of a conmiurrity paDty at the centr. FINANCIAL REVIEW Income from lettings and othcr aGtiVAties inCread this year to £32.956, compared with £29,777 ill 2023, Ov¢raU iD¢om¢ increa8ed to £87.672, cojwrcd to £44,877 in 2023. Expenditure in the year to 31 March 2024 increased to £77,227 from £38.668 in the previous year. The association achieved a surplu8 for tbe year ended 31 March 2024 of £10.445 (2023 - £6,209). Overall tlJ¢ committee are satisfied with tbe outcome. We continue to be at¢fi for those who siipport the centre at this tim¢ by way of grants and rcalisc the importance of their CODtnUtson to the centre. Prlnelple Fundlng Sources The funding sources for the charity are currentty by way of 60Yo grant funding and 4/0 lettiDg income. As a result of incre&8ing constraints oll the expenditure of loeal authorities. the chatity has to seek fundin8 ftom a much broader group of agencies and increase letting income. Investment Pollcy Aside from retaining a prudent amount in reserves each year. most of tbe funds are to be spent in the short-tcrn) so the ate fcw funds for lon84erni investment. A review of inve8tm¢nt poli¢i¢s is planned early in th¢ new fmancial year. Reserves Polley and Golng Concern The Management ConIttee has examined tbe charitys requirements forreserves in light of the main risks to th¢ organisation. It has &stab]ished apolicy whuEby the unrestricted funds not committed or invested in tangEble f¢d a&8ets held by the charity should be six months of the expenditure. The Management Committee is of a view that Pllands Wood Community Association is a Boing
Page 4 PILANDS WOOD co111UNy ASSOCIATION REPORT OF THE MANAGEMEIYT COMMfiTEE (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 PLANS FOR FUTURE PERIODS During the coming year our aims are: To recrnit Trustees. To look at new ways of increasing our incom¢. To increase private bires to incre&se income. To continue to recruit and train more volunteers. To liaise with local training facilitatOTS to access relevant committee and volunteer ttaining. To involve tb¢ community in all aspects of the nllming of the Community Centre. To gain funding to meet the community's needs. To continue to run a community pantry. To improve the centre's facilities for th¢ community. To host conullunity events. STRUCTURE, COVERNANCE AND MANAGEMENT Governing Document The association is all unincorporated mt constitirted on 6 December 1994 and amended 26 October 2000 and 18 June 2001. governed by a Constitution overseen by tNstees and registered as a charity number 1049953. The association was established under a constitutio which established the objects and powers of the charitabI¢ associatlon. Reernltment and Appointment of the Management Commlttee The tru8te¢s of the association are also kllown as members of the Management Committee. Und the requirement8 of the Constitution of Associatio th¢ membets of the Management ConllDittee aT¢ elected to serve for & period of one year. aftcr wbicb they must be re<lected at the Annual General Meeting. Due to the nature of objectives of the association, it is boped the needs of the arn of benefit will be appropiiatety refiected through the diversty of the future trustee body.
PILANDS WOOD COMMUNITY ASSOCIATION Page S REPORT OF THE MANAGEMENT COMMrrTEE (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMEP4T (CONTINUED) Trustee Induction and Training New trnstees and volunteers are invited and encouraged to attend a wies of short tiaining sessions to familiae thenxselves with tb¢ charity and the context within which it operntes. This takes the fonn of meetings with the existing trustees: an introduction to trustee, responsibilities and charity law by Hampshire County CounciL' various one day coursGs by Eastleigh Borough Council and other affiliated organisations. and ve. the ob]igations of Management Committee members: the main d0ounltS which set out the operational frauWO for the chlty. including the Constitutio sources and the CUllEnt fmancial psition as set out in the latest pub]islJed Financial Statements: future plans and objectives: and health and safety. 1iccns1 secwity, Iisk ngement aud environmelltal issues. An introductory pack bas also been prepared drawing infoTllti0n fornj the various Charity Commission publications sign posted through the Conllllission's guide 'The E&sential Trustee, as a follow up to these sessions. This is distnbuted to all new tiustw along with the Constitution alld latest FinaDcial Statement& Risk MAnAgement Th¢ Manasement ConJmitt¢¢ is ndUcting a rcvi¢w of the major Tisks to which the charity is exposed. A risk register is to be established and is to be updated at least annually. Where appropriate, systems or proceduffs are to be established to mitigate the risks theclwity faces. SilfiCant external risks will lead to the development of a strategic p]an which will allow for the divsifiCation of funding and activities. IDternalcontrol risks wlll be Mini by the implementation of procedures for authorisation of all transactions and projects. ProcdurGs ale in place to ensute con]p]iance with health and safety of staff, Voluntee clients aod visitoTr to the centre. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity. Organlsatlonal Strneture The Pilands Wood Commuw A&8ociatwn has a management committee of up to m1b¢[S who meet quarterly and are responthle for the strntegic direction and policy of the charity. At present. the Management Committee has 6 Mern A scheme of delegation will be put into place and day to day responsibility for the provision of tbe services Trsts with the Charnw along with the Youth and Treasurer Tnm The Chainnall is responsible for ensuring that the charAty delivers the sttvices specified and that key perfomLqD indicat013 are met. The CenttE Co4)rdinator employed by the trustees has delegated responsibility for the day to day operation management of the Centse; individual supervision of the staff team and also ensuring that the team continue to develop t skills and w01ng practices in line with g(KKI practice.
PILANDS WOOD COMMUNTTY ASSOCIATION Page 6 REPORT OF THE MANAGEMENT COMMtTfEE (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT (CONTtNUED) Pay Policy for Senlor Staff The pay for all senior staff employed by the cbarity ts Rviewed on a regular basis and any changes to salaries a dependent on the empk)yees and the charity's overnll perfomwice. Related Partles In so far as it is complementary to the charity's objects the clwity is guided by both local and national policy. At a national level, objectives such as provision of services to care for childrcn. pmvision of TTtraining and facilities and promotion of projects where all age groups mix. Ata local levcl. various group8 usc the centse to provide activities and SeI¢¢S to the area of benefrt. RESPONSIBILrrtES OF THE TRUSTEES IN RESPECT OF THE FINANCIAL STATEMENTS The are responsible forprepaling tbe Rert of themanagement Conmiittee and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standard8 (Units Kingdom G¢neraUy Accept Acunting Practice). The law applicable to charities in England and Wales rquires the tnjstees to prepare Financial Statern¢nts for each fmancial year which give a tThe and fair view of the state of the affairs of the charity and of the incoming resourc and app]ication of rcsouM of the charity for that period. In preparing these fmancial statements the tsu8tee8 are required to: select suitable accounting po]ici&q and apply them consistently; observe the methods and principles in the Charities SORP; make judgements and estimates that reasoDabIe and prudent: state wbether applicable accounting standards have been followed, subject to ally departutes disclosed and explained in the Financial Statements; and prepare the fuwicial statements on a 80in8 concern basis unless it is inappropriat¢ to presumc that the charlty will continue in busiuess. The trustees are ttspon61ble for maintaining proper accountiDg which disclose. with reasonable accuracy at any time. the r]nan¢ial position of the charity and to enable them to ensure that the Financial Statements comply with the Charities Act 201 l. the Charity (AGcounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also rnonsible forsafezuarding the assets or the charity and. h¢nce. for taking reasonable stq)s for the pentIOn and detection of fra and other itregularAties. The trustees are responsiTJle forthe n)ainteDance aDd integrity ofthe Ch7ty and fmancial infOrntIOn included on the charity's website in accordance with le]atiOll in the Unit¢d Kingdom governing the pr¢parntion and disKmination of Finallcial Stat¢mellts.
PILANDS WOOD COMIWIUNITY ASSOCIATION Page 7 REPORT OF THE MANAGEMENT COMMITTEE (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 INDEPENDENT EXAMINERS We re-appointed Abrahll & Dobell as the charity's independeiit examiners durillg tlie year and they have CXPTe8sed their willingncss to continue in that capacity. Approved by the trustees on 28 April 2025 and signed on their behalf by: B MURRAY
tNDEPENDENT ExER)s REPORT Page 8 TO THE TRUSTEES OF PILANDS WOOD COMhfUNrrY ASSOCIATION FOR THE YEAR ENDED 31 MARCH 2024 I report to the InteeS on my examination of the accounts of Pllands Wood Community A&sociation for the year ended 31 Mah 2024. RESPONSIBILITtES AND BASIS OF REPORT As the tnteeS of the Chlty you are rwnsible for the prq)arntion of the accounts in accordance with the requirements of the Clwities Act 2011 ('the Act,). I report in resm of my examinatioo of the cbarity's accoimts canied out under section 145 of the 2011 Act and iu carrying out my examination I have followed all the applicable DirectiOZL8 given by the Charity Con]mission under 5CCtion 145(5Xb) of the Act. INDEPENDENT EXAMtNER'S STATEMENT I have completed my examination. I confrm that no material matters bave come to my attention in conll¢ctiOll Wlth the examination giving me cause to believe that in any material wect: accounting records were not kept in rw of the chlty as required by section 130 of the Act: or th¢ a)untS do llot accord with those records: or the accounts do not ¢ompty with tbe applicabk wuircmmts concerning the forni and content of accounts sct out in the Charities (Accounts and Reports) Regulations 2008 other than any requirernt that the accounts give a and fair view, which is not a ll)atter considered as part of an indepcndcnt cxamination. I have no concerns and have come across no other rnatte in connection with the &xamination to which attention should be drdwn in this report in order to enable a proper understanding of the accounts to be reached. DAVID J FCA INSTrruTE OF CHARTERED ACCOUNTANTS IN ENGLAND & WALES 230 Shlrley Road Southampton S015 3HR 28 Aprll 2025
PILANDS WOOD COMMUNITY ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES FOR TKE YEAR ENDED 31 MARCH 2024 Page 9 2024 UnrestrIeted Totsl Funds Funds 2023 Total Funds COME Notss Donations and grants Clwitable activities Bank interest 49,163 38,448 61 49,163 38,448 61 15,100 29,777 TOTAL ll¥COME 87.672 87,672 44,877 EXPENDITURE Charitable activities 77.227 77.227 38.668 TOTAL EXPENDITURE 77.227 77.227 38.668 NET INCOMEI(EXPENDTfuRE)ThET MOVEMENT IN FUM)S FOR TI YEAR RECONCILIATION OF FUNDS Total funds bmught fOard 10,445 10.445 6.209 12 12J35 12,335 6.126 Total funds Clea forwanl £22,780 £22.780 £12.335 The Staternent of FiDancial Activities includes all gains and losses in the year. All income 8JKI expenditure d¢rAves from continuing activities. The notes on pages 1110 17 lorni part of these Financial Statement&
PILANDS WOOD COMMUNrrY ASSOCIATION Page 10 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes FIXED ASSETS Tangible fLKed assets 120 TOTAL FIXED ASSEIS 120 CURRENT ASSETS Debtors Casli at bank and in hand 4,522 22,133 16,572 3,946 TOTAL CURRENT ASSETS 26,655 20,518 LIABILITIES Creditors: Amounts falling due within one year 10 3,875 8,303 NET CURRENT ASSETS 22,780 12.215 NET ASSETS £22,780 £12,335 THE FUNDS OF THE CHARITY Unrestricted income funds 12 £22.780 12,335 TOTAL CHARITY FUNDS £22,780 £12.335 Approved by tbe trustees on 28 April 2025 and signed on their behalf by: The Dotes OD pages 11 to 17 form part of these Financial Statements.
PILANDS WOOD COMMUNTTY ASSOCIATION Page 11 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOuNTG POLICIES The piincipal accounting po]icies are Sllmed below. The accounting policies have been app]ied consistently throughout the y¢ar and in the pre¢illg year. (a) Basls of Preparation The Financial Statements have been prepared under the historical cost Convention. The Financial Statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to ¢hariti¢s prepaTing their Financial Statements in accordan¢e with th¢ Financial Reporting Standard applicable in the UK and Repub]ic of Ireland (FRS 102) - (Clwities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Iland (FRS 102) and Charities Act 2011. The charity constitutes a public benefit entty as defmed by FRS 102. The tneeS consider that there are no Matla1 uncertainties about the ¢barity's ability to continue as a going concern. The Financial Ststements are prepared in Sterling. which is the functional currency of the charity. Monetary amounts are rounded to the nearest £. (b) Funds Structure Unrestricted funds are available for use at the discretion of the trnstees in furth¢rance of the general objectives of the charity. Restiicted funds are subjected to restrictions on th¢ir exp¢nditure imposed by the donor. (c) Ineome All incon)e is included in the Statement of Finallcial Activities when thecharity is entitknl to the income and the amount can be quantified with reasonable accuracy. The following spccific polices are app]ied to particular categories of illcome: Donatiolls and Icgacics are received by way of grants and donations and are included in full in the Statement of Financial Activities when receivable. Grnn wher¢ entitlemcnt is not Gonditional on the delivery of a specific perfom)ance by the charity. are recognised when the charity becomes unconditionally entitled to th¢ Donated services and facilities are included at th¢ value to the charity where this can be quantified. The valu¢ of services provided by voluDteer3 has not been included in these FiDancial StateDnts. InVestnllt income is included when receivable.
PILANDS WOOD COMMUNrrY ASSOCIATION Page 12 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (CONTINUED) (d) Expendfithre Expenditure is recognised on an accrual basis as a liability is incued. Expendit iacludes any VATwhich cajmot be recovered and is reported as part of tbe expenditu to wbicb it relates: Charitable expenditure comprises thoK costs Incurr by the charity in the delivery of its activities and serviccs 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 thenl Governance costs iactude those costs associated with meeting the constitutional a statutory requirements of the clwity and include thc Indep¢ndent Examinevs fees and costs linked to the Strategic management of the charity. All costs are allocated between the expenditure categories of the Statement of Financial Activiti on a basis designed to reflect the use of the resourc¢. Costs re]ating to a particular activity arc allocatsj directly, others are apportioned on an appropriate bas (e) Tan1)Ie Ffixed Assets and Depreclalion Fixed assets are stated atcost less acaunulated deprKiation. The costs ofrninor additions are not capitalised. DeprlatIOn is provided at rates calculated to write-off the cost of each asset over its expected useful life &8 fol]ows: Office Equipment 250/0 of Net Book Value (fj Debtors Any amounts owing to the charity at 31 March in respect ofincome are shown as debto if and when they arise. @) Creditors credito are recognised where the Ch]ty h&s a present obligation resulting from a past event that will probably result in the transfer of funds to a third paty and the amount due to settle the obligation can bc meas or estimated ]iAblY. Ih) Flnancfial IDStrnments The cbarity 0Y bas f]nancial assets and flljancial ]iabiliti¢s of a knnd that qualify as basic fmancial instnllnents. Basic fmancial instnmts are initmlly recognised at transaction value and subsequentty rneasUr at th¢ir 8ettl¢ment value.
PILANDS WOOD COMMUNrrY ASSOCIATION Page 13 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 DONATIONS AND GRANTS The following general grants were received for the centre activities during the year. 2024 2023 Unrestricted Totsl Total Funds Funds Funds Eastlei8h Borough Council Hampshire County Council Access to Work 31,850 12,000 5,313 31.850 12,000 5,313 15.100 £49,163 £49,163 £15,100 In 2023 the donations and grants received of £15,100 were unrestiict¢d. There were no donated services and facilities r¢ceivabk which could be quantified in the year (2023 - £nil). INCOME FROM CHARABLE ACTivrriES The following income was generated during the year: 2024 Unrestrlcted Total Funds Funds 2023 Total Fund$ Lettiogs and other projects Community Pantry Community Shop 32,956 1,125 4.367 32,956 1,125 4.367 29.777 £38.448 £38,448 £29,777 In 2023 the income from cljarrtable activities of £29,777 was unre8trict¢d.
PJLANDS WOOD COMMUNITY ASSOCIATION Page 14 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM INVESTMEIYT 2024 Unrestrlcted Total Funds Funds 2023 Total Funds Bank intere8t £61 £61 ANALYSIS OF EXPENDITURE ON CHARITABLE ACT[VIEs 2024 Total 2023 Total Centre Staff costs Premises and cents? Support Costs Govemance costs 19.947 48.650 7,970 660 19,947 48,650 7.970 660 7,419 28,235 2,420 594 £77,227 £77,227 £38.668 In 2023 the expenditure on charitable activities of £38,668 was unrestricted. ANALYSIS OF SUPPORT AND GOVERNANCE COSTS The charity identifies the costs of its support function by way of apportionment. It then identifies tbose costs which ttlate to the governance function. The support costs a1 governance costs are analysed as follows: General Total Basis of Support Governance FuDds Apporlionment Depreciation General office costs 120 7,850 120 8.510 660 Usage Usage £7.970 £660 £8,630
PILANDS WOOD COMMUNITY ASSOCIATION NOTES TO THE FllYANCIAL STATEMENTS (CONTINUED) Page IS FOR THE YEAR ENDED 31 MARCH 2024 STAFF COSTS AND NUMBERS 2024 2023 Sa]aries and Social Security costs £19,947 £7,419 The average weekly number of employees dwing the year was: No one earned more than £60,000 per year. TANGIBLE FtXED ASSETS Office Equipment Total Cost As at l April 2023 Additions Disposals 379 379 As at 31 MaTch 2024 379 379 Depreciatlon As at l April 2023 Charge for the year Eliminated on disposal 259 120 259 120 As at 31 March 2024 379 379 Net Book Values As at 31 March 2024 As at 31 March 2023 £120 £120
PILANDS WOOD Coh[ffuNrrY ASSOCIATION Page 16 IYOTES TO THE FINAPICIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 DEBTORS 2024 2023 Grants receivable LettiDgs 12.500 4.072 4.522 As at 31 March 2024 £4,522 £16.572 10. CREDITORS: Amounts falllng due witlthi olle year 2024 2023 Accnts and other cr¢dito £3.875 £8J03 I I. ANALYSIS OF NET ASSETS BETWEEN FUNDS Fund balances arc represented by.. 2024 Unrestricted Total Funds Funds 2023 Total Funds Tangible red w¢ts Current assets cUt liabi]ities 120 20,518 (8J03) 26,655 3.875 26,655 3,875 Net assets at 31 March 2024 £22,780 £22.780 £12.335
PILANDS WOOD COMMUNtrY ASSOCIATION Page 17 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12. ANALYSIS OF MOVEMENTS IN FUNDS AND FUND DETAILS At At 01.0423 Income Expendlture 31.0324 Ullrestricted Funds General funds 12J35 87.672 77.227 22,780 Total Unrestrkted Fundsrrotsl Funds £12.335 £87.672 £77227 £22,780 Unrestricted Funds comprise those funds which tThees are free to use in accordance wkth the charitsble objects. Restricted Funds are funds which have been given for particu]ar pu and pn)jects. 13. TRUSTEES. REMUNERATION Trustees received no I]eration in the year (2023 - £nll). 14. RELATED PARTIES There were no related party tranArtions (2023 - £DiD. 15. TAXATION As a charity, Pi]ands Wood Commuw Association is exempt frnm tsx on income and gains to the extent that tbese are applied to its cbaritable objects. No tax Charges have arisen in the clwity.