CAMBIUDGE DIAL A RIDE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST MARCH 2024 CONTENTS AND CHARITY INFORMATION CONTENTS: PAGE: Tntee5, Report tndependent Examiner's Report Statement of FSllanGial Artiviti¢s Balance Sheet Cathflow Ststement Notes to the Financial Statements 8- 12 TRUSTEES.. Clive Hay (resigned 1810812023) Bill Hughes Linda Mills Simon Turner Philippa Lorbett Graham Redgrave Andrew Matthpws {appointed 1911012023) COMPANY SECRETARY: Clive Hay (resigned 1810812023) Graham Redgrave (appointsd 1911012023) MANAGER: Mark Bennett REGISTERED OFFICE., Unit Rene Court Coldhams Road Cambridge CBI 3EW COMPANY REGISTRATION NUMBER.. 3172130 CHLRITY REGISTRATION NUMBER: 1053924 INDEPENDENT EXAMINER: lan W Shipley FCCA For and on behalf of. Prenti5 & Co LLP Chartered Accountants & Independent Examiners L15c Milton Road Cambridg¢ CB4 IXE BANKERS.. Barclays Bank PIC 28 Chestsrton Road Cambridge CB4 3AZ
CAMBRIDGE DIAL A RIDE LIMITED PAGE I FINANCIAL STATEIWIENTS FOR THB YEAR ENDED 3 1ST MARCH 2024 REPORT OF THE TRUSTEES Tho trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the fmancial statements of Cambridge Dial A Ride Limited for the year ellded 31st March 2024, which are also prepared to meet the requirements for a directors report and COUnts for Companies Act puOse$. The financial ststernents cotnply with the Cbarities Act 201 I, the Compallies Act 2006, the M¢morandum and Articles of Association, and Accounting and Reporting by ChaTities.' Statement of Recon)rnended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable ill thg UK and Republic of ITelalld (FRS 102) (issued October 2019 and effective l January 2019). STRUCTU GOVERNANCE AND MANAGEMENT Governing DoeumeDÉ Cambridge Dial A Ride Limited is a company limited by guarantee with charitable 8taths which 15 govemed by a MeOrandUtn 8nd Articles of Association. Appointment ol Trustees New trustees are appointed by a majority of trustees in office at that time. Truste¢ Induction and TrpéiniDg The ttustees on appointment ar¢ provided with infornwtion and guidance relevant and post and they are &lso diTected to guidance published by the Charity Commission. Organisatftonal Strueture The ¢harity has a board of trustee8 who meet quarterly and are respon5ibl¢ for it strategic direction and policy. A manager is appointed by th¢ trustees to manage the day to day operations of the charity. Risk Managem¢nt The trustees actively review the major risk which the GhaTity faces on a regu basis and believe that maintaining reserves at ¢[nt leve, cDmbÈued with an at)nual review ofthe controls over key fJnancial systems will provid¢ sufficient resouTG¢ in the event of adverse conditions. The trustees have also examined other operational and business TlSks faced by the charity and ¢onfJrn that th¢y have Gstablished systems to mitigats the sigllificant risks. OBJECTIVES AND ACTIVITIES Cambridge I)ial a Ride Limitsd operates a door to door minibus S¢Tvice for the elderly and disabled residents of CambTidge and the surrounding villages in South Cambridgeshire who cannot e$S public transport. The sorvice caters for individual membcrs and gmups. ]n plaI]ng their activities for th¢ year, the trnstso8 have kept in mind the Charity Commission's guidanc¢ orL public benefit for their trustees meetings. ACHIEVEMENTS AND PERFORMANCE Our membership numbers continue to increase. as do the nuDthers of journeys undertaken. We welcomed a new Operation8 Maller, Mark Bennett, who is settling in well. During the year, the working minimum wage was increased, and again in ApTiI 2024. We have six paid drivers on this wage {two of the drivers being part-time receive a proportionate amount). This has incr&4sed our salary costs significantly. We bave had to move to paid drivers ag we have been unsuccess1 in finding voluntser drivers to supplement the llwnbers. This appears to be a common problem for all charities in Cambridge. Our vehicle costs have also increa8ed sigDificaDtly as our fleet g¢ts older. All our other Gosts have increased throughout the year which has resulted in our financial resources continuing to decrease. Despite a small increase in the grants from both the CPCA and the City Council, the grants have not been increased for many years and fall well short of what we need to continue op¢rations. We have made our case to both the CPCA and the City Council and await their response.
CA[BRIDGE DIAL A IiID.E LIMITED PAGE 2 FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST MARCH 2024 REPORT OF ThE TRUSTEES ..........CONT ACHIEVEMENTS AND PERFORMANCE- Colltinued During the year wo ran several Saturday day trips to various locations including Holl(ham HalL Felixstow¢ alld Hunstanton. These were entbusiastically supported by OUT members, many of whom have not had days Qut for many yeaT8. The demand was so great that on several of the trips we had to use three or fi)ur buses. We also rall a CMistsn&8 party for our members and were supported by a donation from the City Council. We had to Us¢ &ll our buscs and all our drivers, both paid and volunteers, to get 61 of our members to and from the paty. RESERVES POLICY The trustces have onc¢ again agTo¢dto a policy of holding fimds to a level of 6 months of resoU¢S expended which is in line with gvideEilles set by the Chlty Conllnission, This atnountS to an averdge of £IOO,000.The ¢haTity currently I free reserves of £nil (2023,. £45,862) and intends to increase this over a number of years tbrough making fijll use of the capacity of the buses and other fimdrnising rneasures, FUTURE DEVELOPMENTS Our bus fleet needs steady and continued replacement, but OUT re5erv¢8 aro insufficient at pr¢sent. Our funding giv¢s great concern and unless we receive additi(fftal fjnancial help, our futt5re is uncertain. We intend to continue running the Saturday days out this year. as demand Iw been v¢ry high. We also intend to run the Cbrisljnas party for as many members as possible, &8 the 2023 party was a great success. Due to our financial issues, we will have to increase our fares from July 2024. We do this extremely reluctantly, but the fare increase we h&v¢ iEnplementsd should generate a small surplus to ensure we can operate this yoar wbilst we continue to discuss with the CPCA and the City Council a longer-tern] solution to give us future sustainability. However, w6 fear that this nthy reduce the number of members travelling with us, as well a5 putting a strain on the resources of rnY of our members who already facing cost of living issues elsewhere. If we can obtaill more and better funding, our first clmige will be to reduce fares as much as possible. We are also now receiving grallts from both South carnbridgeshi and East Cambridge5hirc District Councils so that we can expand ourjourneys to take in their respective areas. We are monitoring these developments to ensure that the additional grants cover our increased costs. TRUSTEES, RESPONSIBILrrIES fN RELATION TO THE FINANCIAL STATEMEYrs The charity's Trustses are responsible for preparing a Trustees, annual report and fllwicial statements in accordance with applicable law and United Kingdorn Accounting Standards (United Kingdorn Generally Accepted Accounting Practice). The law applicable to Glwities in England and Wales requires the charity Trustees to PTepare fjnancial statemeEts for each year which give a te and fair view of the stat¢ of affairs of the c]wity and of the incoEning resour¢¢s alld application of resources, of the charty for tbat period. In prepasiJ)g the fancial stat¢m¢nls, the Trustees are required to.. select suitabl¢ aGcounting policie8 and then apply them consistently* observe th¢ methods and principles in the applicable Charities SORP. make judgements and e8timates that aTe reasonable and prlellt' state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and expl&ined in the financial Stateellts. prgpare the fJDancial statements on a going concern b8sis unless it is inappropriate to presume tbat the charity will continue in operation.
CAMBR DIAL A RIDE LIMITED PAGB 3 FJNANCEAL STATEN1ENTS FOR THE YEAR ENDBD 31ST MAiiCH 2024 REPORT OF THE TRUSTEES ,...... CONT TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL sTATENTs . ¢ontinued Th¢ Trustees are TespDJslble for keeping proper accountillg rccoTds which disclose with reasonable &CCUTacy at any time the financial pcAitRon ofthe charity and to enabl¢ tltem to ensure that the fjnancial stateMts compty with the Clwities Act 2011, the appJi¢8ble Ctwities (Accowits and Reports) Regulations and the provisions of the Memomdum attd Articles of A8sociatlon. They are also ttsponslble for s&frguardiDg tbe a8sots of th¢ chtirity aud taklng reasonable stsps for the prevention and detection of fraud alld other irre8ulaTAtie8, APPROVAL This report was approfftl by the Trustees Oll 2 T % 202 and slgned on the]rbehf. BILL HUGHES
CAMBRIDGE DIAL A IUDE LIMITED PAGE 4 FINANCIAL STATEMENTS FOR THB YEAR ENDED 31 ST MARCH 2024 INDEPENDENT EXILMINER'S REPORT TO THE TRUSTEES OF CAMBIUDGE DIAL A RIDE LIMITED I report to the charity trustees on my examination of the accounts of the chai'it&ble company for the year ended 3 1st March 2024. RESPONSIBILITIES AND BASIS OF BEPORT As the charity's trustees of the Company (and also its directo for thc purposes of company law) you are re8ponsible for the preparation of the accounts in accordance with the requirement8 of the Compallies Act 2006 ('the 2006 Act), Having been satisfied th&t the accounts of the CoMpY are not required to be audited Ullder Part 16 of th¢ 2006 Art and eligible for independent examination, I report in respect of my &xamination of your charitjgs accounts as carried out under s.145 of the Charities Act 2011 (the '2011 Act,). tn carrying out Y examination I have followed the Directions given by the Charity Conllnission under 8.145(5)(b) of the 201 l Act. IKDEPBNDENf EXAMtNERS' STATEMENT I have completed my examination. I confirni that no matters have Gome to my attention in connection with the examination giving me Gau3¢ to believe., (l) accounting records were not kept in rospect of the cornpw as required by s.3 86 of the 2006 A (2) the &ccounts do not accord with those Counting records, (3) the accounts do not Gomply with the accounting requirements of s.396 of the 2006 Act other than ally requirement that the accounts give a and fair, view which is not a matter considered as part of an independent examination. (4) the accounts have not been prepared in accordance with the methods and principles of the Statement RecoMmded Practice for accouDting and reporting by chaTities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)). I knave no concerll8 alld have come across no other lltterS in connection with the exami0 to which attention should be drawn in dLiS report in order to enable a proper uuder5tanding of the accounts to be reache(L IAN W SHIPLBY FCCA FOR AND ON BEHALF OF: PRENTIS & CO LLP CHARTERED ACCOUNTANTS & INDEPENDENT EXAMINERS 115¢ Milton Road Cambridge CB4 IXE A ZOZL
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i• PAGE 6 FINANCIAL STATEmETrs FOR THE YEAR ENDED 31ST MARCH 2024 BALANCE SHEET 2024 2023 Notes FIXED ASSETS Tangible assets 63.146 56,461 CuRRAsSETs Dobtors Cth at baDk and in Imnd 21,566 27914 49,480 16.111 91376 108.487 TOTAL CUiiRENf ASSETS LTABILITIES Creditor8; amounts falling dut wlthln one yettr io 15.257 8,521 CURREwf ASSETS 3{223 97,369 99,966 156,427 NBT ASSEts Unre8tri¢ted fimds Dld fiwds Restri¢tcd fimd8 22.161 45,000 30208 74,969 45,000 36,458 156,427 12 97.369 The trustee5 tonsiderthat the charilable Mpally is ¢ntitl¢d to exemption from the requirement to have an audit under the provi5iQDs of Seclion 477(1) of the Comp8nies Act 2006. Members h&ve not required the charitable ¢ompany under Section 476 of the Companies Act 2006, to obtain an audit for the yew ended 31st March 2(Y24. The dir¢¢tors admowled80 tlwtrr¢sponslbllitles for en8urlnE thattbe rbarithble COmPhDy kws *¢¢ountlDg YeIrdS wbigh Gojnply wilh Section 386 alld 387 of the CompaDies Act 2006 and prepariog financial statements which giv¢ a true pnd lair vi¢w ofthe state of affairs ofthe cbaritsble company as at 31st March 2024 and of its net expenditilre for the year then endEd In accord8Dce with the requlrenjents of Section 396 alld which otherwlse comply with the qUirements of the Act relating to thc fmallcid 8tst¢llts as k as applirable lo the charithbk con4y. The financlal statemults, whi¢b have been prepared in accordance with the special provisions relating to Mp1¢& subject to the small collwwjies regime %thIn Part 15 of the Companies ACL 2006, re approv1 by the board on zs 202y- and signed on it behalf. BILL HUGHBS TRUSTEE The notes oll page5 8 to 12 forni part of these financial 8tstements.
CAMBIUDGE DIAL A RIDE LIMITED PAGE 7 FINANCJAL STATEMENTS FOR THE YEAR ENDED 31 ST MARCH 2024 STATEMBNT OF CASHFLOWS 2024 2023 Notes Cash from operatlllg a¢tivitles Net cash used in operating activities 14 (43,332) (862) Cash flows from Investlng activltles InteT¢St Purchase of tangible red a88et Proceeds from sale of tangible fixed assets Net cash provided by investing activities 394 124 (36,024) (18,336) 14,500 (21,130) (18,212) Change in cash and cash equivalents in th¢ year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year (64,462) (19,074) 92,376 111,450 27,914 92,376
CAMBIUDGE DIAL A RtDE LIMITED PAGE 8 FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 Is'r MARCH 2024 NOTES TO THE FINANCIAL STATEMBNTS ACCOUNTING POLICIES (a) BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial stateinents have been prepared under the liistoncal cost Collvelltion with items recognised at cost or transaction value unless otherwise stated ill the relev&nt notes to these financial statements. The financial statements have been prepared in accordance with Accountiiig aiid Reporting by Charities., Statement of Recoll¢nded Practice applicable to GhaTitie8 preparing their accounts ill accordance with the Finaiicial Reporting Standard applicable in the UIC and Kepublic of Ireland (FRS 102) (issued October 2019 and effective 1st January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the CoD]panies Act 2006. The charity constitutes a public benefit entity as defmed by FRS 102. GONG CONCERN The financial statements liave been prepared under the Going Concem coneept. Many of the Charity's userg are in the vulllerable alld self isol&ting groups effected by the COVID 19 pandentc and di had effected fare income. At the date of signing seLvices have begun to retum to pre COVID l9 levels. The Charity is reliant on its existing reserves and grant funding together with the rec¢nt r¢lief inea8ures the Goverrllnent has introduced. Th¢ Trustees are constantly monitoring the situatioll and i'eviewing all possible scenarios. They consider the CEwity with the support of its llders and planned increase in fares sliould have sufficieiit reserves to reniains as a going concem. (b) tNCOME All incoming resources are iiicluded in the Stateinent of Financial ActivitÉes when the charity is entitled to the income and the atnount can be quantifEed with reasonable accurdcy. (c) EXPENDITURE Expenditure is rccognised on an accru&ls basis as a liability is incued. Expenditure includes any V A"r which catmot be fully recovered, and is reported as Pdrt of ttLe expenditure to which it relat¢s. (d) OPERATING LEASES Rentals appl(cable to opei'ating leases wheie substantially all of tlie benefits and rislLS of ownership remain with the lessor, are charged against income as incurred. (e) DEPRECIATION Depreciation 15 provided on all t'angible fixed assets at rates calculated io write off tlie cost less e5tiinaled residual value of each &s5et over its expected usefiil life as follows:_ Molor veliicles Office equipinent Fixtures & fittings 12.50/0 straight line basis 25019 5tr&ight line basis 250/0 Straight line basis (fj CAPI'fALISATION Tangible red assets are I'ecognised at cost wli¢n ¢xpelldituiE exceeds £1,000. (g) DEBTORS Trade debtors and otlier debtors arc recognised at their 8¢tt1ement amouiit due aftei. any discollnts, Prepaynenls tll'e VUed at the amount pirpaid net of any trade discount due. (h) CREDITORS AND PROVISIONS Creditors and provisions are recogiiised wIiei'e the cliu'ity Lias a pi'esent obligaLion resulting froni a pagt evenl tliat will probably result in the transfer of funds to a thtrd pai'ty and the amount due to settle the obligation catL be Lneasured or estimatsd reliably. Creditors and provisioiis are noiinally recognised at tE]eir settleincnt amount aft¢r allowing for any ti'ade discounts due.
CAMBRIDGE DIAL A RIDE LIMITED PAGE 9 FtNANCIAL STA TEMENTS FOR THB YEAR ENDED 3 1ST MARCH 2024 NOTES TO THE FtNANCIAL STATEMENTS (i) FUND ACCOUNTING Restricted fimds are to be used for the specified purposes laid down by the donor. Expenditure for those purposes is charged to the fLmd, together with a fair alloGation of overhead and support costs. Designated funds are unrestricted fimds, which have beell designatcd for special purposes by the trustees. UnrestriGted funds are donations and other incoming resources reGeived or generated for expenditure on the general objects of the charity. (i) PENSIONS The chlty contributes to money purchase, definod Contribution schemes, on behalf of its employees. No liability exists in r¢spect of pensions other than monthly Contributions due whiGh are included within creditors. DONATIONS AND LEGACIES . Unrestrictsd Cembs South Rotary National Lottery Pye Foundation Girton Golf Club Others 2024 2023 2.000 10,000 5,000 5,533 379 6,173 8,173 20,912 GRANTS RECEIVED - Unre5trictEd 2024 Total Funds 2023 Total FLU8 Cambridgeshire & PetErboTough combined authority Bus Service Operator's Grant Cambridgeshire County Council Cambridg¢ City CounGiI South Cambridgeshire Council 27,276 2,736 4,901 29,549 40,000 41,300 5,000 76,312 74,450 MEMBERSHIPS, FAFES AND HIRE CHARGES 2024 2023 Concessionary fargs FeS Htre Charges Contracted hire Memberships 41,776 46,571 17,756 16,101 1,920 27,256 32,475 16,696 15,405 2,810 124,124 94,642 NET moTMENt IN FUNDS FOR THE YEAR Deficit for the year is stated after tharging: Independent examination fee Depreciation of owned assets 2024 2023 650 14,839 570 11,771
CAMBRIDGE DIAL A RIDE LIMITED PAGE 10 FINANCIAL STATEMENTS FOR TFIB YEAR ENDED 31 ST MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS TOTAL EXPENDITURE 2024 Charitable Governance activities costs 2023 Ciwitable Govern¥ activities costs Total expend¢d Total expended Accountancy Bank rhargcs Computer cost5 DepreciatÉon Fuel Independent exami]tion isurance Licences and subscriptions MiscellaneoLL8 Motor expenses Postag¢ Premise5 repairs and cleaning Publicity and website - job advertising RenL rates, light and heat Staff costs (note 7) Stationery Telephone Training and T¢CNitmellt Ullifornis Voluntsers, expenses Professional fees Travel and ac¢on]modation Profit on disposals 1,420 877 2,536 14,839 13,123 1,420 877 2,536 14,839 E3,123 650 7,876 3,429 2,240 28,683 1,124 2,505 2,725 661 2,226 11,771 12,174 2,725 661 2,226 11,771 12,174 570 6,446 3,689 711 17,575 908 2,567 650 570 7,876 3,429 2,240 28,683 1,124 2,505 6,446 3,689 711 17,575 908 2,567 169 15,544 168,237 742 1,887 1,085 752 169 15,544 168,237 742 1,887 1,085 752 72 12,541 128,535 359 1,677 1,306 162 55 72 12,541 128,535 359 1,677 1,306 162 55 539 304 (500) 267,411 539 48 48 {500) 268,061 650 206,208 570 206,778 STAFF COSTS No remuneration was paid to gny of the trustees in the year or the previous year nor were any expenses reinthLngd to them. 2024 2023 The staff costs were: Wages alld salaries Social Security w5ts Other pension costs Statywelfare 159,093 6,247 1,603 1,294 168,237 120,375 4,756 2.467 937 128,535 No tnomb¢r of staff received remuneratlon of more than £60,000. The average weekly number of staff e]llployed dwing the year was 9 (2023,. 6).
CAMBRIDGE DIAL A RIDE LIMITED PAGE 11 FINANCtAL STATENENTS FOR THE YEAR ENDED 31 ST MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS FIXED ASSETS Year ended 3 1st March 2024 COST Balance at I st ApTil 2023 Additions Disposals Balance at 3 1st March 2024 Motor Office Fixtures VehiGles Equipment & Fittings Total 154,974 35,500 (16,000) 174,474 10,727 524 1,250 166,951 36,024 (16,000) 186,975 11,251 1,250 DEPRECIA TION Balance at 1st April 2023 chge for the year Disposals Balance V4t 3 1st March 2024 100,889 13,811 (1,500) 113.200 8,975 714 626 314 110,490 14.839 (1,500) 123,829 9.689 940 NET BOOK VALUE AT 31 st March 2024 61,274 1.562 310 63,146 FIXED ASSETS Year ended 3 1st March 2023 COST Balance at 1st April 2022 Additions Motor Office Fixtures Vehicles Equipm¢nt & Fittings Total 138,974 16,000 8,391 2,336 1,250 148,615 18,336 Balance at 315t March 2023 154,974 10,727 1,250 166.951 DEPRECIATION Batance at 1st April 2022 che for the year Balance at 3 1st March 2023 90,016 10,873 8,391 584 312 314 98,719 11,771 100,889 8,975 626 110,490 NET BOOK VALUE AT 3 1st Matth 2023 54,085 1,752 624 56,461 DEBTORS Due within one year: AcGrued income Other debtors - VAT TTado debtors Prepayments 2024 2023 13,879 4,181 3,096 410 8,606 3,557 2,515 1,433 16,111 21,566 10. CREDITORS Due within one year., Accruals & deferred income Other taxes and social Security Trade creditors Other crcditors 2024 2023 1,400 6,477 5,454 1,926 1.400 2,780 3,762 579 15,257 8,521
CAMBRIDGE DIAL A RIDE LIMITED PAGB 12 FINANCIAL STATBMENTS FOR THE YEAR ENDED 3 1ST MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS RESERVES Year ended 3 1st March 2024 Brought Forward Carried Income ExpenditUTe ForwaTd Restri¢t¢d Unrestricted Designated (vehicle replacwnent fund) 36,458 74,969 45,000 (6,250) 209,003 (261,811) 30,208 22,161 45,000 156,427 209,003 (268,061) 97,369 RESERVES Year ended 31 st March 2023 Brought Forward Carrsed Income Expenditsre Forward Restricted Unrestricted Desigllated (vehicle replacement fund) 42,708 85.369 45,000 (6,250) 36,458 190,128 (200,528) 74.969 45,000 173,077 190,128 (206,778) 156,427 12, ANALYSIS OF NBT ASSETS BETWEEN FUNDS ye ended 3 1st March 2024 Tangible fixed assets Net urent asseti Total net assets R¢8triGted funds DesigtLated funds Unrestricted funds 30,208 30,208 45,000 22,161 4S,000 (10,777) 34,223 32,938 63,146 97,369 ANALYSIS OF NET ASSETS BETWEEN FUNDS Year ended 31st mch 2023 Tangible fixed assets Net current assetg Total net asgets Restricted funds Designated funds Unrestricted finds 36,458 36,458 45,000 74,969 45,000 54,966 20,003 56,461 99,966 156,427 13. LIABfLITY OF THE MEMBERS The cbarity is lirnit by guarantee. tn the event of the charity being wound up, the liability of the ]nethers is limited to £1, 14. RECONCILIATION OF NET MOVEMEbfrs IN FUNDS TO NET CASHFLOW FROM OPERATLNG ACTIVITIES 2024 2023 Net movement in ldS Deduct interest received Depreciation in the year and loss on disposals (Decreaseyincrease in ¢r¢ditors Decreasel(increase) in debtors Net cash used in Op.atIllg activities (59,058) (16,650) (394) (124) 14,839 11,771 6,736 (669) (5,455) 4,810 (43,332) (862) 15. RELATED PARTY TRANSACTIONS No trustees were remun¢rated during the year. No expenses were reimbur3¢d to the trustees during the year.