REGISTERED CHARITY NUMBER: 1060724 

Report of the Trustees and 

Financial Statements for the Year Ended 31 August 2024 

for 

The Royal Latin School Fund 



The Royal Latin School Fund 

Contents of the Financial Statements for the Year Ended 31 August 2024 

||Page|
|---|---|
|Report of the Trustees|1 to 3|
|Report of the Independent Auditors|4 to 6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the Financial Statements|9 to 13|





The Royal Latin School Fund 

Report of the Trustees for the Year Ended 31 August 2024 

The trusteespresenttheir reportwith the financial statementsof the charity for the yearended31 August2024. The trusteeshaveadoptedthe provisionsof AccountingandReportingby Charities:Statementof Recommended Practice applicableto charitiespreparingtheir accountsin accordancewith theFinancialReportingStandardapplicablein the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 

## OBJECTIVES AND ACTIVITIES 

## Objectives and aims 

The sole objectiveof the trust is, 'within The Royal Latin School(RLS), to advancethe educationof students by providing and assisting in the provision of facilities for education of students at the school'. 

## Significant activities 

Thetrusthashada successfulyearin termsof meetingits objectivesassetoutabove.This is reflectedin the financial statements attached with this report. 

Throughouttheyearandin theperioduntil thesigningof this reportandaccounts,thetrusteeshavehadregardto  the guidance issued by the Charity Commission on public benefit. 

## ACHIEVEMENT AND PERFORMANCE 

## Charitable activities 

The legacyfrom the 600th Anniversaryyear in 2023 is wide-rangingand hopefully enduring,with alumni, staff, parents,studentsandthewidercommunityall participatingin thecelebrationsandreportinga senseof belonging and pridein theschool.Followingthecelebrationstheschoolhasnot activelyfundraisedor stagedanymajorfund  raising eventsduring theyear. Instead,it tooktheopportunityto engagewith alumni, donorspastandpresent,sponsors and longstanding volunteers and held a 600th Anniversary Gala Ball in September 2023, to thank everyone involved. 

In 2024the schoolfocusedon assessingthe feasibilityof a significantthird andfinal phaseof the 600 Campaign, a multi-usearts,dramaanddancefacility. A transitionprocesswasalsomanagedto allow for thechangeoverto a  new Director of Development who started in June 2024 and a new Headteacher, who started in September 2024. 

## FINANCIAL REVIEW 

## Financial position 

Incomereceivedby the SchoolFundagainremainedat a reducedlevel for the year,asthe schoolis not in an  active fundraisingphase,at present. Donationsof £7,038havecontinuedto bereceivedfrom a small groupof parents into the Annual Fund and £4,478 was received towards an initial arts facility campaign. 

The trust also received£5,471from the Alderman NewtonCharity to supportstudentswith financial difficulties. £23,603 of funds, previously receivedfrom The Lillingstone Trust continuedto support the school to host a programmeof free sciencelecturesfor the local community,within the DiscoveryCentreat RLS, sports science lecturesin theMind andBodyzoneof theschool'sekroboticsSportsCampus,in additionto supportingthesports and science outreach teams at RLS. 

£17,053of fundsraisedtowardsthe third phaseof the 600 Campaignwereusedto supportthe ongoing  feasibility work being carried out on the multi-use arts facility. 

Following the 600th AnniversaryGalaBall eventandotheractivities,the trust retainedreservesof £55,254(2023 - £147,926). 

## FUTURE PLANS 

2024/2025 will see the continuation of the feasibility work for the third phase of the 600 Campaign. 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

## Governing document 

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. 

The Declaration of Trust was executed on 9 December 1996. 

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The Royal Latin School Fund 

Report of the Trustees for the Year Ended 31 August 2024 

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1060724 

Principal address The Royal Latin School Chandos Road Buckingham MK18 1AX 

Trustees K Davis D W Hudson (resigned 31.8.24) R L Wilson V Brown (appointed 1.9.23) L Hayhurst-France (appointed 1.9.23) I Chislett (appointed 1.9.24) 

Auditors NB Consulting Limited Chartered Accountants and Statutory Auditors 2 Foxglove Close Buckingham MK18 1FU 

## STATEMENT OF TRUSTEES' RESPONSIBILITIES 

The trusteesareresponsiblefor preparingthe Reportof the Trusteesandthe financial statementsin accordance with applicable law and United Kingdom Accounting Standards(United Kingdom Generally Accepted  Accounting Practice)including FinancialReportingStandard102 "The FinancialReportingStandardapplicablein the UK and Republic of Ireland". 

The law applicableto charities in England and Wales,the Charities Act 2011, Charity (Accountsand Reports) Regulations2008and the provisionsof the trust deedrequiresthe trusteesto preparefinancial statementsfor each financial yearwhich give a true andfair view of the stateof affairsof the charity andof the incomingresources and applicationof resources,including the incomeand expenditure,of the charity for that period. In preparing  those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- preparethe financial statementson the going concernbasisunlessit is inappropriateto presumethat the  charity will continue in business. 

The trusteesare responsiblefor keepingproperaccountingrecordswhich disclosewith reasonableaccuracyat any time the financial positionof the charity andto enablethemto ensurethat the financial statementscomplywith the CharitiesAct 2011,the Charity (AccountsandReports)Regulations2008andthe provisionsof the trust deed. They arealsoresponsiblefor safeguardingtheassetsof thecharityandhencefor taking reasonablestepsfor the  prevention and detection of fraud and other irregularities. 

Thefinancial statementshavebeenpreparedin accordancewith theprovisionsapplicableto companiessubjectto  the small companies regime. 

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The Royal Latin School Fund 

Report of the Trustees for the Year Ended 31 August 2024 

23/03/2025 

Approved by order of the board of trustees on ............................................. and signed on its behalf by: 

.................................................................... R L Wilson - Trustee 

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Report of the Independent Auditors to the Trustees of The Royal Latin School Fund 

## Opinion 

We have audited the financial statementsof The Royal Latin School Fund (the 'charity') for the year  ended 31 August2024which comprisethe Statementof FinancialActivities, the BalanceSheetand notesto the  financial statements,including a summaryof significantaccountingpolicies.The financial reportingframeworkthat has been appliedin their preparationis applicablelaw andUnitedKingdomAccountingStandards(UnitedKingdom Generally AcceptedAccounting Practice),including Financial Reporting Standard102 'The Financial Reporting  Standard applicable in the UK and Republic of Ireland'. 

## In our opinion the financial statements: 

- givea trueandfair view of thestateof thecharity'saffairsasat 31 August2024andof its incomingresources and application of resources, for the year then ended; 

- have been properly preparedin accordancewith United Kingdom Generally AcceptedAccounting Practice, including FinancialReportingStandard102'TheFinancialReportingStandardapplicablein theUK and  Republic of Ireland'; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## Basis for opinion 

We conductedour audit in accordancewith InternationalStandardson Auditing (UK) (ISAs (UK)) and  applicable law. Our responsibilitiesunderthosestandardsarefurther describedin the Auditors' responsibilitiesfor the audit  of the financial statementssectionof our report. We are independentof the charity in accordancewith the ethical requirementsthat are relevant to our audit of the financial statementsin the UK, including the FRC's  Ethical Standard,andwe havefulfilled our otherethicalresponsibilitiesin accordancewith theserequirements.We  believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## Conclusions relating to going concern 

In auditingthefinancial statements,wehaveconcludedthat thetrustees'useof thegoingconcernbasisof accounting in the preparation of the financial statements is appropriate. 

Basedon the work we have performed,we have not identified any material uncertaintiesrelating to events or conditionsthat, individually or collectively,maycastsignificantdoubton the charity'sability to continueasa  going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilitiesandtheresponsibilitiesof thetrusteeswith respectto goingconcernaredescribedin the  relevant sections of this report. 

## Other information 

The trusteesareresponsiblefor the otherinformation.The otherinformation comprisesthe information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statementsdoesnot coverthe other information and, exceptto the extent  otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connectionwith our audit of the financial statements,our responsibilityis to readthe other information and,  in doing so, considerwhether the other information is materially inconsistentwith the financial statementsor our knowledgeobtainedin the audit or otherwiseappearsto be materially misstated.If we identify such  material inconsistenciesor apparentmaterialmisstatements,wearerequiredto determinewhetherthis givesriseto a  material misstatementin thefinancial statementsthemselves.If, basedon thework wehaveperformed,weconcludethat  there is a materialmisstatementof this otherinformation,wearerequiredto reportthat fact. Wehavenothingto report in this regard. 

## Matters on which we are required to report by exception 

Wehavenothingto reportin respectof thefollowing matterswheretheCharities(AccountsandReports) Regulations 2008 requires us to report to you if, in our opinion: 

- the information given in the Reportof the Trusteesis inconsistentin any material respectwith the financial statements; or 

- sufficient accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- we have not received all the information and explanations we require for our audit. 

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Report of the Independent Auditors to the Trustees of The Royal Latin School Fund 

## Responsibilities of trustees 

As explainedmorefully in theStatementof Trustees'Responsibilities,thetrusteesareresponsiblefor the  preparation of the financial statementswhich give a true andfair view, andfor suchinternal control asthe trusteesdetermine is necessaryto enablethe preparationof financial statementsthat arefreefrom materialmisstatement,whetherdue  to fraud or error. 

In preparingthe financial statements,the trusteesareresponsiblefor assessingthe charity'sability to continueas  a going concern,disclosing,as applicable,mattersrelatedto going concernand using the going concernbasis  of accountingunlessthe trusteeseither intend to liquidate the charity or to ceaseoperations,or have no realistic alternative but to do so. 

## Our responsibilities for the audit of the financial statements 

We havebeenappointedasauditorsunderSection144 of the CharitiesAct 2011andreportin accordancewith the Act and relevant regulations made or having effect thereunder. 

Our objectivesare to obtain reasonableassuranceaboutwhetherthe financial statementsas a whole are free  from materialmisstatement,whetherdueto fraudor error,andto issuea Reportof theIndependentAuditorsthat  includes our opinion. Reasonableassuranceis a high level of assurance,but is not a guaranteethat an audit conducted in accordancewith ISAs (UK) will alwaysdetecta materialmisstatementwhenit exists.Misstatementscanarise from fraud or error and areconsideredmaterialif, individually or in the aggregate,they could reasonablybeexpected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities,including fraud,areinstancesof non-compliancewith lawsandregulations. We designprocedures in line with our responsibilities,outlinedabove,to detectmaterialmisstatementsin respectof irregularities, including fraud.  The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

We obtainedan understandingof the legal andregulatoryframeworksthat areapplicableto the charitableTrust  and reviewedthe academy'sdocumentationon their policiesand proceduresrelating to fraud and compliancewith these laws and regulations; 

Weenquiredof managementwhethertheyareawareof anyinstancesof non-compliancewith lawsandregulations or whethertheyhadanyknowledgeof actual,suspectedor allegedfraud,supportedby a reviewof theminutesof  trustee meetings; 

Weassessedthesusceptibilityof theentity'sfinancial statementsto materialmisstatement,including howfraud might occur; 

Our testing considered unusual or unexpected accounting entries; 

Weperformedanalyticalproceduresto identify theexistenceof unusualtransactionsor eventswhich mayindicate risk of material misstatement due to fraud; 

We reviewed the financial statements and tested the disclosures against supporting documentation. 

A further descriptionof our responsibilitiesfor the audit of the financial statementsis locatedon the Financial ReportingCouncil'swebsiteat www.frc.org.uk/auditorsresponsibilities.This descriptionforms part of our Report of the Independent Auditors. 

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Report of the Independent Auditors to the Trustees of The Royal Latin School Fund 

## Use of our report 

This reportis madesolelyto thecharity'strustees,asa body,in accordancewith Part4 of theCharities(Accounts and Reports)Regulations2008.Our audit work hasbeenundertakensothat we might stateto the charity'strustees those matterswearerequiredto stateto themin anauditors'reportandfor no otherpurpose.To thefullestextent permitted by law, wedonot acceptor assumeresponsibilityto anyoneotherthanthecharityandthecharity'strusteesasa  body, for our audit work, for this report, or for the opinions we have formed. 

NB Consulting Limited Chartered Accountants and Statutory Auditors 2 Foxglove Close Buckingham MK18 1FU 24/03/2025 Date: ............................................. 

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The Royal Latin School Fund 

## Statement of Financial Activities 

## for the Year Ended 31 August 2024 

|Unrestricted<br>funds<br>Notes<br>£<br>INCOME AND ENDOWMENTS FROM<br>Donations and legacies<br>7,038<br>Other trading activities<br>2<br>9,232<br>Investment income<br>3<br>10<br>Total<br>16,280<br>EXPENDITURE ON<br>Raising funds<br>-<br>Charitable activities<br>Other donations to RLS<br>10,050<br>Donations to other charities<br>8,068<br>Donations to RLS multi-use arts facility<br>-<br>Total<br>18,118<br>NET INCOME/(EXPENDITURE)<br>(1,838)<br>RECONCILIATION OF FUNDS<br>Total funds brought forward<br>15,451<br>TOTAL FUNDS CARRIED FORWARD<br>13,613|Restricted<br>funds<br>£<br>15,378<br>15,226<br>-<br>30,604<br>67,453<br>35,793<br>1,139<br>17,053<br>121,438<br>(90,834)<br>132,475<br>41,641|31.8.24<br>Total<br>funds<br>£<br>22,416<br>24,458<br>10<br>46,884<br>67,453<br>45,843<br>9,207<br>17,053<br>139,556<br>(92,672)<br>147,926<br>55,254|31.8.23<br>Total<br>funds<br>£<br>104,296<br>88,583<br>7<br>192,886<br>11,224<br>39,137<br>15,055<br>-<br>65,416<br>127,470<br>20,456<br>147,926|
|---|---|---|---|



The notes form part of these financial statements 

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The Royal Latin School Fund 

## Balance Sheet 

## 31 August 2024 

|Balance Sheett<br>31 August 20244||||||
|---|---|---|---|---|---|
|||||31.8.24|31.8.23|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
||Notes|£|£|£|£|
|CURRENT ASSETS||||||
|Cash at bank||13,613|43,081|56,694|149,216|
|CREDITORS||||||
|Amounts falling due within one year|7|-|(1,440)|(1,440)|(1,290)|
|NET CURRENT ASSETS||13,613|41,641|55,254|147,926|
|TOTAL ASSETS LESS CURRENT||||||
|LIABILITIES||13,613|41,641|55,254|147,926|
|NET ASSETS||13,613|41,641|55,254|147,926|
|FUNDS|8|||||
|Unrestricted funds||||13,613|15,451|
|Restricted funds||||41,641|132,475|
|TOTAL FUNDS||||55,254|147,926|



The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 23/03/2025 

............................................. R L Wilson - Trustee 

The notes form part of these financial statements 

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The Royal Latin School Fund 

Notes to the Financial Statements for the Year Ended 31 August 2024 

## 1. ACCOUNTING POLICIES 

## Basis of preparing the financial statements 

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ’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 (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 ’The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. 

## Income 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## Expenditure 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. 

## Taxation 

The charity is exempt from tax on its charitable activities. 

## Fund accounting 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

## 2. OTHER TRADING ACTIVITIES 

|OTHER TRADING ACTIVITIES|||
|---|---|---|
||31.8.24|31.8.23|
||£|£|
|Pupil Fundraising|8,873|14,299|
|600 Campaign Fundraising|15,226|74,010|
|Other fund raising|359|274|
||24,458|88,583|



continued... 

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The Royal Latin School Fund 

Notes to the Financial Statements - continued for the Year Ended 31 August 2024 

## 3. INVESTMENT INCOME 

|INVESTMENT INCOME|||
|---|---|---|
||31.8.24|31.8.23|
||£|£|
|Deposit account interest|10|7|



## 4. TRUSTEES' REMUNERATION AND BENEFITS 

Therewereno trustees'remunerationor other benefitsfor the yearended31 August 2024 nor for the year ended 31 August 2023. 

## Trustees' expenses 

There were no trustees'expensespaid for the year ended 31 August 2024 nor for the year ended 31 August 2023. 

## 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 

|Unrestricted<br>funds<br>£<br>INCOME AND ENDOWMENTS FROM<br>Donations and legacies<br>9,662<br>Other trading activities<br>14,573<br>Investment income<br>7<br>Total<br>24,242<br>EXPENDITURE ON<br>Raising funds<br>-<br>Charitable activities<br>Other donations to RLS<br>10,250<br>Donations to other charities<br>14,189<br>Total<br>24,439<br>NET INCOME/(EXPENDITURE)<br>(197)<br>RECONCILIATION OF FUNDS<br>Total funds brought forward<br>15,648<br>TOTAL FUNDS CARRIED FORWARD<br>15,451|Restricted<br>funds<br>£<br>94,634<br>74,010<br>-<br>168,644<br>11,224<br>28,887<br>866<br>40,977<br>127,667<br>4,808<br>132,475|Total<br>funds<br>£<br>104,296<br>88,583<br>7<br>192,886<br>11,224<br>39,137<br>15,055<br>65,416<br>127,470<br>20,456<br>147,926|
|---|---|---|



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The Royal Latin School Fund 

## Notes to the Financial Statements - continued for the Year Ended 31 August 2024 

## 6. AUDITORS' REMUNERATION 

Audit fees of £1,440 (2023 - £1,290) are included in expenditure on raising funds on page 6. 

## 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 

||31.8.24|31.8.23|
|---|---|---|
||£|£|
|Other creditors|1,440|1,290|



## 8. MOVEMENT IN FUNDS 

|MOVEMENT IN FUNDS||||
|---|---|---|---|
|Unrestricted funds<br>Annual fund<br>Other funds<br>Restricted funds<br>600 Campaign<br>Other funds<br>Lillingstone Trust<br>TOTAL FUNDS|At 1.9.23<br>£<br>12,833<br>2,618<br>15,451<br>106,283<br>2,589<br>23,603<br>132,475<br>147,926|Net<br>movement<br>in funds<br>£<br>(2,962)<br>1,124<br>(1,838)<br>(68,496)<br>1,265<br>(23,603)<br>(90,834)<br>(92,672)|At<br>31.8.24<br>£<br>9,871<br>3,742|
||||13,613<br>37,787<br>3,854<br>-|
||||41,641|
||||55,254|



Net movement in funds, included in the above are as follows: 

|Unrestricted funds<br>Annual fund<br>Other funds<br>Restricted funds<br>600 Campaign<br>Other funds<br>Alderman Newton<br>Lillingstone Trust<br>TOTAL FUNDS|Incoming<br>resources<br>£<br>7,038<br>9,242<br>16,280<br>19,704<br>5,429<br>5,471<br>-<br>30,604<br>46,884|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(10,000)<br>(2,962)<br>(8,118)<br>1,124<br>(18,118)<br>(1,838)<br>(88,200)<br>(68,496)<br>(4,164)<br>1,265<br>(5,471)<br>-<br>(23,603)<br>(23,603)<br>(121,438)<br>(90,834)<br>(139,556)<br>(92,672)|
|---|---|---|



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continued... 



The Royal Latin School Fund 

Notes to the Financial Statements - continued for the Year Ended 31 August 2024 

## 8. MOVEMENT IN FUNDS - continued 

Comparatives for movement in funds 

|Unrestricted funds<br>Annual fund<br>Other funds<br>Restricted funds<br>600 Campaign<br>Other funds<br>Lillingstone Trust<br>TOTAL FUNDS|At 1.9.22<br>£<br>13,171<br>2,477<br>15,648<br>843<br>3,965<br>-<br>4,808<br>20,456|Net<br>movement<br>in funds<br>£<br>(338)<br>141<br>(197)<br>105,440<br>(1,376)<br>23,603<br>127,667<br>127,470|At<br>31.8.23<br>£<br>12,833<br>2,618<br>15,451<br>106,283<br>2,589<br>23,603<br>132,475<br>147,926|
|---|---|---|---|



Comparative net movement in funds, included in the above are as follows: 

|Unrestricted funds<br>Annual fund<br>Other funds<br>Restricted funds<br>600 Campaign<br>Other funds<br>Alderman Newton<br>Lillingstone Trust<br>TOTAL FUNDS|Incoming<br>resources<br>£<br>9,662<br>14,580<br>24,242<br>120,937<br>-<br>4,946<br>42,761<br>168,644<br>192,886|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(10,000)<br>(338)<br>(14,439)<br>141<br>(24,439)<br>(197)<br>(15,497)<br>105,440<br>(1,376)<br>(1,376)<br>(4,946)<br>-<br>(19,158)<br>23,603<br>(40,977)<br>127,667<br>(65,416)<br>127,470|
|---|---|---|



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The Royal Latin School Fund 

Notes to the Financial Statements - continued 

for the Year Ended 31 August 2024 

## 9. RELATED PARTY DISCLOSURES 

I Chislett trustee,is an employeeand governorof RLS and V Brown trustee,is an employeeof RLS.  Their salariesarepaid by RLS, asappropriate. The charity makesdonationsto RLS in accordancewith its objects andtermsof restricteddonations.Donationsto RLStotalled£62,896(2023- £39,137). During theyear RLS did not make a donation (2023 - £46,297) to the trust's 600 Campaign. 

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