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2023-12-31-accounts

COMPANY REGISTRATION NUMBER: 03182143 CHARITY REGISTRATION NUMBER: 1054534

The British Association of Day Surgery Company Limited by Guarantee Unaudited financial statements 31 December 2023

The British Association of Day Surgery

Company Limited by Guarantee

Financial statements

Year ended 31 December 2023

Pages
Report of the council 1 to 7
Independent examiner's report to the trustees 8
Statement of financial activities (including income and expenditure account) 9
Balance sheet 10
Notes to the financial statements 11 to 18

The British Association of Day Surgery

Company Limited by Guarantee

Report of the council

Year ended 31 December 2023

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.

Reference and administrative details

Registered charity name The British Association of Day Surgery Charity registration number 1054534 Company registration number 03182143 Principal office and registered The British Association of Day Surgery office Care of The Royal College of Surgeons of England Lincoln's Inn Fields London WC2A 3PE

The trustees

The trustees who served during the year and at the date of approval were as follows:

Ms J Marsden (Immediate Past President) Dr K Russon (Past President) (resigned June 2023) Mr D Bunting (President) Ms F Belfield (Conference Secretary) Dr M Checketts (Past Conference Secretary) (resigned September 2023) Mr A Kimble (Honorary Treasurer) Dr T Hinde (resigned September 2023) Mr S Clee (Council member) (resigned February 2023) Mr E Dunstan (Council member) Mrs K Harries (President Elect) Ms C Jack (Council member) Mrs S Leyshon (Council member) (resigned June 2023) Dr J Mitchell (Council member) Dr R Morris (Publications Officer) Dr R Tibble (Council member) Ms M Albay (Council member) (appointed September 2023) Mrs A Conquest (Council member) (appointed September 2023) Ms P Dasannacharya (Council member) (appointed September 2023) Mr G Galata (Council member) (appointed September 2023) Dr L Hudman (Council member) (appointed September 2023) Dr S Karavolos (Council member) (appointed September 2023) Mr C Miras Sampedro (Council member) (appointed September 2023) Mr P Rawling (Council member) (appointed September 2023) Ms D Stott (Lay Council Member) (appointed September 2023) Ms C Williams (Council member) (appointed September 2023)

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The British Association of Day Surgery

Company Limited by Guarantee

Report of the council (continued)

Year ended 31 December 2023

Non Trustee Council Members

Ms G Bratt McManus Council 'taster' member Ms R Stanton Council 'taster' member Miss M Morton BAOMS representative Miss S Stapley BOA representative Dr M Stoker IAAS representative Company Secretary Mrs K Harries Independent examiner Mark Proctor FCA DChA Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB Bankers Barclays Bank Plc 5-7 Red Lion Street Norwich Norfolk NR1 3QH

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The British Association of Day Surgery

Company Limited by Guarantee

Report of the council (continued)

Year ended 31 December 2023

Objectives and activities

BADS purpose is to promote excellence and maximize delivery of UK day surgery.

Its strategic objectives are to

Activities

Public Benefit

The Council Members confirm that they have paid due regard to the Charity Commission's guidance on public benefit in deciding what activities The British Association of Day Surgery should undertake.

The Association, founded in 1989, aims to raise awareness and interest in day surgery. It influences and advises in the development of day surgery services and recommends standards of best practice, which will improve the quality of care provided to the public.

The annual conference and programme of one-day virtual conferences encourages presentation and sharing of evidence-based and practical information for the education of healthcare professionals involved in delivering day surgery with networking opportunities. The website provides access to educational and benchmarking material.

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The British Association of Day Surgery

Company Limited by Guarantee

Report of the council (continued)

Year ended 31 December 2023

Achievements and performance

The challenge of the elective surgery backlog and record long waiting lists in the UK has continued to raise the profile of day surgery delivery and that of BADS, it being the only association in the UK dedicated to promoting excellence in the delivery of day surgery.

Membership

At the end of 2023, active membership was 657.

Membership subscriptions

These are reviewed annually. In September 2023 it was decided not to increase annual membership fees and to review in November 2023. The Council will need to decide on increasing annual membership fees in line with inflation and to support the increasing benefits of being a BADS member which may include a greater discount on registration for the annual conference.

Governance

Work continued to strengthen BADS governance with appointment of a governance lead, externally commissioned to provide specific governance support to BADS. Governance is now given a dedicated slot in each of the 5 council meetings per year and BADS now holds dedicated separate strategy meetings twice yearly.

BADS Administration

Day-to-day administrative support is outsourced to an independent contractor paid by the hour. This carries no requirement for a workplace pension scheme or governance policies relating to staff employment.

Administrative support for BADS conferences remains outsourced and contracts were renewed to include management of the 2025 conference. The annual conference is managed by Event Management Direct.

The one-day virtual conference programme is managed together with Healthcare Conferences UK (HCUK). BADS provides the programme and speakers and HCUK organise the marketing, speaker liaison and web-based meeting platform (Zoom).

New accounting software was introduced in January 2023.

After a successful pilot arrangement, social media management is now regularly outsourced and provided by our website management team (101 Websites & Apps).

Financial review

Income for the year amounted to £195,541 (2022: £186,469) and after deducting expenditure of £155,794 (2022: £153,799), the net income for the year amounted to £39,747 (2022: £32,670).

Investment Policy

The Council members consider that there are no funds available for long-term investment and, having considered the options available, have decided to place available funds in Bank Deposit Accounts.

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The British Association of Day Surgery

Company Limited by Guarantee

Report of the council (continued)

Year ended 31 December 2023

Reserves Policy

Despite a challenging year due to a short notice change in conference venue and increased associated costs resulting in the conference making a financial loss, the overall financial situation was such that:

a) no requirement to call upon our reserves during the last financial year

b) a further improved financial position for BADS.

No major calls upon capital are anticipated outside of planned expenditure during 2023/24. As a consequence the considered view is that the proposed level of reserves held during 2023/24 remain unchanged.

The committee has concluded that a prudent range of reserves to be held from unrestricted funds not committed would be a minimum of six months operating costs and a maximum of 12 months operating costs. For 2024 this is proposed to be towards the higher end of the range. This would amount to £120,000.

Free reserves at the year end amounted to £264,329 (2022: £224,582). The surplus reserves will be used to help the charity to maintain its presence and provide education in day surgery practice in the ever more challenging environment of the NHS. The charity hopes to develop benchmarking for all NHS trusts to use and work towards an accreditation program for day surgery.

Total restricted reserves at the year end amounted to £10,025 (2022: £10,025).

Principal Funding Sources

The principal source of funds is income from

Income Risks:

Compared to recent years, in the past year, sales of handbooks have been lower, sales of the directory of procedures were similar, income from virtual conferences was increased, new license agreements brought in new income, more was spent on online publishing costs and website redesign, subscriptions have increased, partnerships have reduced and the conference for a number of reasons made a financial loss. BADS needs to consider if it can raise income to enable free access to the directory of procedures, which could result in a financial for BADS.

Reputation risks:

BADS council have a strong professional reputation and a solid governance framework which is continually reviewed and revised as appropriate to mitigate potential reputational and financial risks.

Continuity risks:

Risks for continuity arise from the potential loss of key council members. This risk is mitigated by.

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The British Association of Day Surgery

Company Limited by Guarantee

Report of the council (continued)

Year ended 31 December 2023

Plans for future periods

The BADS Council aims to continue in its activities to the Association's charitable objectives. This will encompass developing its existing collaborations with national bodies (e.g., GiRFT, CPOC) to promote the importance of and support day surgery delivery as part of the national elective recovery programme and continuation of regular, twice yearly strategic planning meetings.

Structure, governance and management

Governing Document

The organisation is a charitable company limited by guarantee, incorporated on 3 April 1996 and registered as a charity on 11 April 1996. The company was established under a Memorandum and Articles of Association which established the objects and powers of the charitable company and it is governed under its Articles of Association.

Recruitment and Appointment of Council members

The Members of the Council are also directors of the company for the purposes of company law. Under the requirements of the Articles of Association one third of the Members of the Council are required to retire from office each year and are eligible for re-election at the next Annual General Meeting.

In looking for new Members of the Council the Council Members will bear in mind the experience and qualification of possible candidates. The successful candidates are elected by a meeting of the existing Council Members.

Council Members

The Council Members, who are also Trustees and Directors, who served during the year and up to the date of this report are shown on page 1.

Trustee Induction and Training

They are encouraged,

They are requested to,

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The British Association of Day Surgery

Company Limited by Guarantee

Report of the council (continued)

Year ended 31 December 2023

Risk Management

The Association has conducted a review of the risks to which the charity may be exposed. Systems have been put in place to reduce those risks. Risks are minimised by the procedures developed for authorisation of transactions, publications and projects. The risks in funding are mitigated by the reserves policy which is reviewed yearly by the Council.

Organisational Structure

Independent examiner

Mark Proctor FCA DChA of Lovewell Blake LLP will be reappointed as independent examiner for the ensuing year.

Small company provisions

This report has been prepared taking advantage of the small companies' exemption of section 415A of the Companies Act 2006.

The report of the council was approved on 25 September 24 and signed on behalf of the board of trustees by:

Mr D Bunting President

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The British Association of Day Surgery

Company Limited by Guarantee

Independent examiner's report to the trustees of The British Association of Day Surgery

Year ended 31 December 2023

I report to the charity trustees on my examination of the financial statements of the company for the year ended 31 December 2023 which comprise the statement of financial activities (including income and expenditure account), balance sheet and the related notes.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the financial statements of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's financial statements as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

Mark Proctor FCA DChA Independent Examiner

Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB

25 September 24

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The British Association of Day Surgery

Company Limited by Guarantee

Statement of financial activities (including income and expenditure account)

Year ended 31 December 2023

2023 2022
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 5 – – – 33
Charitable activities 6 193,706 – 193,706 186,390
Investment income 7 1,835 – 1,835 46
------------------------------- ------------- ------------------------------- -------------------------------
Total income 195,541 – 195,541 186,469
=============================== ============= =============================== ===============================
Expenditure
Expenditure on raising funds:
Costs of other trading activities 8 – – – (420)
Expenditure on charitable activities 9 (155,794) – (155,794) (153,379)
------------------------------- ------------- ------------------------------- -------------------------------
Total expenditure (155,794) – (155,794) (153,799)
=============================== ============= =============================== ===============================
------------------------------- ------------- ------------------------------- -------------------------------
Net income and net movement in funds 39,747 – 39,747 32,670
=============================== ============= =============================== ===============================
Reconciliation of funds
Total funds brought forward 224,582 10,025 234,607 201,937
------------------------------- -------------------------- ------------------------------- -------------------------------
Total funds carried forward 264,329 10,025 274,354 234,607
=============================== ========================== =============================== ===============================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on page 11 to 18 form part of these financial statements.

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The British Association of Day Surgery

Company Limited by Guarantee

Balance sheet

31 December 2023

2023 2022
Note £ £ £ £
Current assets
Debtors 14 29,520 10,735
Cash at bank and in hand 269,558 236,980
------------------------------- -------------------------------
299,078 247,715
Creditors: Amounts falling due within
one year 15 (24,724) (13,108)
------------------------------- -------------------------------
Net current assets 274,354 234,607
------------------------------- -------------------------------
Total assets less current liabilities 274,354 234,607
------------------------------- -------------------------------
Net assets 274,354 234,607
=============================== ===============================
Funds of the charity
Restricted funds 10,025 10,025
Unrestricted funds 264,329 224,582
------------------------------- -------------------------------
Total charity funds 18 274,354
===============================		 234,607
===============================

For the year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 25 September 24, and are signed on behalf of the board by:

Mr D Bunting (President) Trustee

Mr A Kimble (Honorary Treasurer) Trustee

Company registration number: 03182143

The notes on pages 11 to 18 form part of these financial statements.

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The British Association of Day Surgery

Company Limited by Guarantee

Notes to the financial statements

Year ended 31 December 2023

1. General information

The charity is a private company limited by guarantee registered in England and Wales, and a registered charity in England and Wales. The address of the registered office is The British Association of Day Surgery c/o The Royal College of Surgeons of England, Lincoln's Inn Fields, London WC2A 3PE.

The principal activity of the charity is the promotion of the benefits, quality and efficiency of day and short surgery in the United Kingdom and internationally.

2. Statement of compliance

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Going concern

The financial statements have been prepared on the going concern basis as the Council believe that no material uncertainties exist. The Council have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

(c) Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(d) Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal.

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The British Association of Day Surgery

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 December 2023

3. Accounting policies (continued)

(e) Income

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

(f) Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

(g) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

President's pendant

(h) Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

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The British Association of Day Surgery

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 December 2023

3. Accounting policies (continued)

(i) Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

(j) Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Limited by guarantee

The charity is a company limited by guarantee and does not have a share capital. The members have guaranteed that in the event of the charity being wound up during their membership or one year thereafter, each would contribute to the assets of the charity a sum not exceeding £1.

5. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
Donations
Donations – – 33 33
============= ============= ============= =============
6. Charitable activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
Sale of books and booklets 992 992 2,909 2,909
Subscriptions 50,863 50,863 43,476 43,476
Exhibitions, meetings and strategic
alliances 141,851 141,851 140,005 140,005
------------------------------- ------------------------------- ------------------------------- -------------------------------
193,706 193,706 186,390 186,390
=============================== =============================== =============================== ===============================
7. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
Bank interest receivable 1,835 1,835 46 46
====================== ====================== ============= =============

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The British Association of Day Surgery

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 December 2023

8. Costs of other trading activities

----- Start of picture text -----
|||||| |---|---|---|---|---| |Unrestricted|Total Funds|Unrestricted|Total Funds| |Funds|2023|Funds|2022| |£|£|£|£| |Printing books and booklets|–|–|420|420| |----------------------|----------------------|-------------|-------------| |–|–|420|420| |======================|======================|=============|=============| |Expenditure on charitable activities| |Unrestricted|Total Funds|Unrestricted|Total Funds| |Funds|2023|Funds|2022| |£|£|£|£| |Printing expenses|2,000|2,000|6,330|6,330| |Annual Scientific Meeting|60,468|60,468|69,508|69,508| |Staff costs|–|–|30,495|30,495| |Rent and service charges|5,619|5,619|10,903|10,903| |Website and computer costs|18,057|18,057|14,384|14,384| |–|–| |Advertising and publicity|3,101|3,101| |Printing, postage and stationery|10,503|10,503|3,208|3,208| |Accountancy - Xero and VAT|2,852|2,852|1,282|1,282| |-|-| |Consultancy|9,339|9,339| |Subscriptions payable|3,883|3,883|1,371|1,371| |Unrecoverable VAT|13,809|13,809|7,975|7,975| |Bank charges|151|151|811|811| |Governance costs|26,012|26,012|7,112|7,112| |-------------------------------|-------------------------------|-------------------------------|-------------------------------| |155,794|155,794|153,379|153,379| |===============================|===============================|===============================|===============================| |Governance costs comprises:| |Unrestricted|Restricted|Total Funds|Total Funds| |Funds|funds|2023|2022| |£|£|£|£| |–| |Independent examination fees|3,800|3,800|3,530| |–|–| |Legal and professional fees|5,687|5,687| |–| |Council and meeting expenses|16,525|16,525|3,582| |----------------------|-------------|----------------------|----------------------| |–| |26,012|26,012|7,112| |========== ============|=============|======================|======================|

----- End of picture text -----

9. Expenditure on charitable activities

10. Net income

Net income is stated after charging/(crediting):

Lease rental payments

----- Start of picture text -----
||| |---|---| |2023|2022| |£|£| |5,619|10,903|

----- End of picture text -----

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The British Association of Day Surgery

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 December 2023

11. Independent examination fees

2023 2022
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 3,800 3,530
Other financial services 2,852 1,282
------------- ----------------------
6,652 4,812
============= ======================

12. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

2023 2022
£ £
Wages and salaries – 28,337
Employer contributions to pension plans – 2,158
------------- --------------------------
– 30,495
============= ==========================

The average head count of employees during the year was Nil (2022: 1). The average number of full-time equivalent employees during the year is analysed as follows:

2023 2022
No. No.
Office and administration – 1
============= =============

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

Key Management Personnel

There were no key management personnel during the year.

13. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the Council members.

During the year 19 Council members received expenses in the course of their duties in respect of travelling, subsistence and accommodation totalling £9,885 (2022: 10 members, £3,966). At the end of the year £1,817 was outstanding to 6 members (2022: £Nil).

14. Debtors

2023 2022
£ £
Trade debtors 13,819 6,933
Prepayments and accrued income 15,701 3,802
-------------------------- --------------------------
29,520 10,735
========================== ==========================

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The British Association of Day Surgery

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 December 2023

15. Creditors: Amounts falling due within one year

2023 2022
£ £
Trade creditors 4,903 –
Accruals and deferred income 18,666 12,086
Social security and other taxes 1,155 826
Other creditors – 196
-------------------------- --------------------------
24,724 13,108
========================== ==========================
16. Deferred income
2023 2022
£ £
At 1 January 2023 3,760 3,760
Amount released to income (3,760) (3,760)
Amount deferred in year 13,823 3,760
-------------------------- ----------------------
At 31 December 2023 13,823 3,760
========================== ======================

Deferred income in 2023 and 2022 relates to strategic alliances invoiced in advance.

17. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £Nil (2022: £2,158).

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The British Association of Day Surgery

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 December 2023

18. Analysis of charitable funds

2023

Unrestricted Income Funds
At 31 Dec
At 1 Jan 2023 Income Expenditure 2023
£ £ £ £
General Funds 224,582 195,541 (155,794) 264,329
=============================== =============================== =============================== ===============================
Restricted Funds
At 31 Dec
At 1 Jan 2023 Income Expenditure 2023
£ £ £ £
Zeneca Research Fellowship 10,025 – – 10,025
------------------------------- ------------------------------- ------------------------------- -------------------------------
Restricted funds 10,025 – – 10,025
=============================== =============================== =============================== ===============================
2022
Unrestricted Income Funds
At 31 Dec
At 1 Jan 2022 Income Expenditure 2022
£ £ £ £
General Funds 191,912 186,469 (153,799) 224,582
=============================== =============================== =============================== ===============================
Restricted Funds
At 31 Dec
At 1 Jan 2022 Income Expenditure 2022
£ £ £ £
Zeneca Research Fellowship 10,025 – – 10,025
------------------------------- ------------------------------- ------------------------------- -------------------------------
Restricted funds 10,025 – – 10,025
=============================== =============================== =============================== ===============================

The Zeneca Research Fellowship was established in 1993 to award research grants.

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The British Association of Day Surgery

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 December 2023

19. Analysis of net assets between funds

2023

Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Current assets 289,053 10,025 299,078
Creditors less than 1 year (24,724) – (24,724)
------------------------------- -------------------------- -------------------------------
Net assets 264,329 10,025 274,354
=============================== ========================== ===============================
2022
Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Current assets 237,690 10,025 247,715
Creditors less than 1 year (13,108) – (13,108)
------------------------------- -------------------------- -------------------------------
Net assets 224,582 10,025 234,607
=============================== ========================== ===============================

20. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
Not later than 1 year 5,802 5,802
Later than 1 year and not later than 5 years 7,736 13,537
-------------------------- --------------------------
13,538 19,339
========================== ==========================

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