Registered number: 03306926 Charity number: 1062939 THAMES VALLEY GYMNASTICS LIMITED {A Company Limited by Guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THAMES VALLEY GYMNASTICS LIMITED IA Company Limited by Guarantee) CONTENTS Page Reference and Administrative Details of the Charity, its Trustees and Advisers Trustees, Report Independent Examinerfs Report statement of Financlal Activities Balance Sheet Notes to the Financlal Statements 10-18
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees J Harris, Director A Horne. Director R J Nowton. Director Company registered number 03306926 Charity registered number 1062939 Reglstered offlce Holmelea, Sonning Lane, Sonning, Berkshire, RG4 6ST Company secretary R J Newton Accountants Nortons Assurance Limited, Second Floor, NOW Building. Thames Valley Park. Reading, Berkshire, RG6 1RB Bankers Natwest Bank, Unit L11, The Oracle Shopping Centre. Reading. Berkshlre, RG12AG Page 1
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees presenl their annual report tJether with the financial statements of the company for the period from 1 April 2023 to 31 March 2024. The Charity also trades under the name Thames Valley Gymnastics Club. Objectlves and Activitles a. Policies and objectives The charitls objectives are to advance the educatton of school pupils by organising or providing or assisting in the organisation and provision of a facility or facilities together with the direct or indirect provision of training and coaching which will enable and encourage such pupils to undertake gymnastics to assisl in ensuring that due attention is given to the physical education and development of such pupils. as well as to the development and occupation of their minds with a view to furthering these objectiV8S. b. Main actlvSties undertaken to further the charity's purposes for the publlc benefit The charity's Trustees have complied with their duly to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties. This guidance is Contained in "Charities and Public Benefit" published by the Charity Commission. The company promotes public benefit locally and to the wider community in a number of ways and in particular.. Provides a dedicated gymnastics facility and specialist gymnastics equipment in an area where there is no other public access to gymnastics training opportunities. Provides training for its staff as part of their continuing professional development. Provides a facility for early years learning of physical skills in a safe and controlled environment. Makes its premises available to the local community for gymnastics coaching. physical exercise, ballet. dance classes and as a venue for meetings. Provides financial support and bursaries lo enable children to continue their participation in the sport in the event of family and financial difficulties and provKles grants to enable children with potential to train and compete at higher levels in the sport. Provides, without charge. governance and welfare officer support services to gymnastics organisations operating in the Thames Valley area. c. Volunteers The Charity has been supported by willing volunteers in meeting its objectives and administration activities of the Charity and the trustees would like to take this opportunity to say how much they appreciate their continuing and valuable support. The trustees consider no reliable value can be placed on cost of volunteers so have not included it within these accounts. Page 2
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance a. Review of activities The gymnasium operated normally during the year. providing the requested amount of serviced hours to users. Flnanclal review a. Going concern The financial performance for the year was satisfactory and the CoMpanS financial reserves have increased accordingly. The Charity has adequate reserves and: on this basis the financial stalements have been prepared on a going concern basis. b. Reserves pollcy The Members have examined the Charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the Charity should be approximately 12 months of the expenditure. General funds at the year end amounted to £112,627, which amount is more than sufficient to meet the working capital requirements of the Charity and the Trustees are confident that at this level they would be able to continue the current activities of the Charity in the event of a significant drop in funding. Income from Room Hire during the year was restored to pre-Covid-19 levels, resultlng in a satisfactory surplus for the year of £6.939 {2023: £2,779). During the year it was necessary to utilise some of the Charity's Reserves in order to carry out the refurbishment of the building roofs so as to ensure on-going filness for purpose. Also improved lighting was installed togelher with the fitting of solar panels on the roof. which should contribute to lower future electricity costs. The south facing clerestory windows in the building were also refurbished together with the instsllation of an internal roof to improve building insulation. It is considered that thls expenditure was essential to enable the Charity to continue its purposes. Page 3
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 structure, governance and management a. Constitution The Charity is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 24 January 1997. The Company is constituted under a Memorandum of Association daled 24 January 1997 and was registered as a Charity, number 1062939, on 24 January 1997. The compat7ls Memorandum and Articles of Association were amended by special resolution on 4 November 1998 and 4 December 1999. b. Method of appolntment or electlon of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Assoclation. The directors of the Company are also charity trustees for the purposes of charity law and under the Companls Articles are known as members. Under Ihe requirements of the Memorandum and Articles of Association, the Trustees are requlred to retire from Offi at the Annual General Meeting. however any Trustee may stand for re- electlon. Under the Memorandum and Articles of Association. any person may Stand for election as a Trustee unless that person h2s not attained the age of 18 or has been disqualified from acting under the provisions of Article 30 of the Articles of Association. The Trustees may, by ordinary resolution, appoint a person to act as Trustee to fill a vacancy or as an additional Trustee. A Trustee so appoinled shall hold office until the following Annual General Meeting. c. Pollcles adopted for the induction and training of Trustees Trustees Directors generally have a background in education, charity administration andlor gymnastics as a parent or a coach. The Trustee induction programme includes familiarisalion with the gymnasium and its equipment. Training for Trustees for their duties as truslees of a charity. is made available to all Trustee Directors. Trustees are selected because of their relevant skills for the company's activities. d. Principal activitles The Charity provides and maintains a fully serviced gymnastics facility together with specialist gymnastics equipment to enable the provision of slructured programmes of gymnastiG5 education and coaching for children through from infancy to adullhood. Funds are made available to enable continued partiCiP8tion in cases of financial difficulty and children with potential are offered additional hours of tuition togelher with financial support to enable them to train and compete at higher levels in the sport. Members. liability The Members of the Charity guarantee to contribute an amount not exceeding £10 to the assets of the Charity in the event of winding up. Page 4
THAMES VALLEY GYMNASTICS LIMITED (A Company Limlted by Guarantee) TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 Trustees. re5ponslbilities statement The Trustees (who are also directors of Thames Valley Gymnastics Limited for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must nol approve the financial statements unless they are satisfied that they give a true and falr view of the state of affairs of the charitable company and of the incoming resources and application of resources. including the income and expenditure, of the chanlable company for that period. In preparing these financial statemenls, the Trustees are required to: select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP. make judgments and accounting estimat@s that are reasonable and prudent. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charilable company and enable them to ensure that Ihe financial statemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities. This report was approved by the Trustees, on and signed on their behalf by. R J Newton, Director Page 5
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent Examinerfs Report to the Trustees of Thames Valley Gymnastics Limlted (the 'company') I reporl to the charity Trustees on my examination of the accounts of the company for the year ended 31 March 2024. This report is made solely to the company's Trustees. as a body, in accordance with Part 4 of the Charitie8 (Accounts and Reports) Regulations 2008. My work has been undertaken so Ihal I might stale to the company's Trusteas those matters l am required to slate to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do nol accept or assume responsibilily lo anyone other than the company and the companys Trustees as a body, for my work or for this report. Responslbllities and Basis of Report As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 Act,). Having satisfied myself that the aGcounts 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 the company's accounts carried out under section 145 of the Charilies Act 2011 ('the 2011 Act,). In carrying oul my examination I have followed the Directions given by thg Charity Commission under section 145(5){b) of the 2011 Acl. Independent Examlnerfs Statement I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or the accounts do nol accord with those records; or the accounts do not comply wilh the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination; or the accounts 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 LIK and Republic of Ireland (FRS 102). Page 6
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 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. igned: Dated: 22 JZ Anthony Campbell FCA Nortons Assurance Llmlted Second Floor NOW Building Thames Valley Park Reading Berkshire RG6 1RB Page 7
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Total Unrestricted funds funds 2024 2023 Note Income from: Charitable activities Investments 57,217 1,872 57,217 1,872 51,600 542 Total Income 59,089 59,089 52. 142 Expenditure on: Charitable activities.. Direct costs Support costs Governance 19,840 30,208 2,102 19,840 30,208 2,102 18,840 21,463 9,060 Total expenditure 52,150 52,150 49,363 Net income before other recognlsed galns and losses Net movement In funds 6,939 6,939 6,939 6.939 2, 7T9 2, 7T9 Reconciliation of funds: Total funds brought forward 499,249 499.249 496,470 506,188 506,188 499,249 Total funds carried fonvard The notes on pages 10 to 18 form part of these financial statements. Page 8
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) REGISTERED NUMBER: 03306926 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets 11 393,561 283,911 Current assets Debtors 12 500 116,407 890 215,648 Cash at bank and in hand 116,907 216,538 Credltors: amounts falling due within one year 13 (4,280) (1,200) Net current assets 112,627 215,338 Net assels 506,188 499,249 Charlty Funds Unrestricted funds 14 506,188 499,249 Total funds 506,188 499,249 The companls financial statements have been prepared in accordance wilh the provisions applicable to companies subject to the small companies regime. The Trustees consider thal the company is entitled to exemption from the requirement to have an audil under the provisions of seclion 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements were approved and aulhorised for issue by the Trustees and were signed on their behalf by: R J Newton, Dlrector Date: The notes on pages 10 to 18 form part of these financial stalements. Page 9
THAMES VALLEY GYMNASTICS LIMITED {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting Policies 1.1 Basls of preparation of flnancial statements 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 Slandard applicable in the UK and Republic of Ireland {FRS 102) leffoctive 1 January 2015) - (Charities SORP IFRS 1021), Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Thames Valley Gymnastics Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical Cost or transaction value unless othetwise stated in the relevant accounling policy. The functional and presentational currency of the financial statements is GBP and these are rounded to the nearest £. 1.2 Company status The Charity is a company limited by guarantee. The members of the Company are the Trustees named on page 1. In the event of Ihe Charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the Charity. 1.3 Golng concern The financial statements have been prepared on a going conrn basis and consideration of the impact of Covid-19 has been addressed in the Trustees Report; this is not considered to cast significant doubt aboul the ability of Ihe charity to continue as a going concern. 1.4 Income All income is recognised once the charity has entitlement to Ihe income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donated services or facilities are recognised when the charity has control over the item, 8ny conditions associaled wilh the donated item have been met, the receipt of economic benefit from Ihe use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102). the general volunteer time of the Friends is not recognised and refer to the Trustees, Report for more infomalion about their contribution. On receipl. donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facililies of equivalent economic benefit on the open market: a corresponding amount is then recognised in expenditure in the period of receipt. Grant income is recognised in the period in which it is receivable. Page 10
THAMES VALLEY GYfvINASTICS LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting Policles (continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each aclivity. Direct cosls attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not atlributable to a single aclivity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocaled on the basis of time spent, and depreciation charges allocaled on the portion of Ihe asset's use. Governance costs are those incurred in connection with administration of the company and compliance with conslilutional and statutory requirements. Charitable activities and Governance costs are costs incurred on the companvs educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities. All expenditure Is inclusive of irrecoverable VAT. 1.6 Tangible fixed assets and depreclatlon A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shorifalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Slatement of Financial Aclivities incorporating Income and Expenditure Account. Tangible flxed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided al rates calculated to write off the cost of fixed assets, less their estimaled residual value, over their expected useful lives on the following bases.. Long-term leasehold property Plant and machinery Straighl Line over the term of the lease 200/0 Straight Line 1.7 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is nomially upon notification of the interest paid or payable by the Bank. 1.8 Debtors Trade and other debtors are recognised at the settlemenl amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.9 Cash at Bank and in hand Cash at bank and in hand includes cash and shorl term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page11
THAMES VALLEY GYMNASTICS LIMITED (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng Policies (continued) 1.10 Liabilities and provisions Liabililies are recognised when there is an obligation at the Balan Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at Ihe amount that the company anticipales it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the lirne value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate Ihat reflects the risks specific to the liability- The unwinding of the discount is recognised within interest payable and similar charges. 1.11 Flnancial instruments The company only has financial assets and financial liabilities of a kind thal qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 1.12 Fund accounting General funds are unrestricted funds whlch are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Income from charitable activitles Unrestricted funds 2024 Total lunds 2024 UnrestriGted funds 2023 Room Hire 57,217 57,217 51.600 Total 2023 51.600 51,600 Page 12
THAMES VALLEY GYMNASTICS LIMITED {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Investment income Unrestricted funds 2024 Total Unrestricted funds funds 2024 2023 Bank Interest Received 1.872 1,872 542 Total 2023 542 542 Dlrect costs Total 2024 Total 2023 Room Hire Sponsorships Wages and salaries 400 19,440 400 19,440 480 18,360 19,840 19,840 18,840 Total 2023 18,840 18,840 Support costs Total 2024 Total 2023 Room Hire Property Expenses Administration Expenses Depreciation 14.223 3.070 12.915 14,223 3,070 12,915 8,974 2,026 10,463 30,208 30,208 21,463 Total 2023 21,463 21,463 During the year ended 31 March 2024. the company incuried the following Governance costs,. £NIL (2023 - £NIL) included within the table above in respect of Room hire. Page 13
THAMES VALLEY GYMNASTICS LIMITED {A Company Limited by Guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Governance costs Unrestricted funds 2024 Total Unrestricted funds funds 2024 2023 Independent Examination Fees Consultant's Fees 1,320 782 1,320 782 1,200 7,860 2,102 2,102 9, 060 Analysts of Expendlturo by expenditure type Staff costs D6preclatlon Other costs 2024 2024 2024 Total 2024 Total 2023 Room Hire Expenditure on governance 19,440 12.915 17,693 2,102 50,048 2,102 40,303 9,060 19,440 12,915 19,795 52,150 49,363 Total 2023 18.360 10.463 20,540 49,363 Net incomel{•xpenditure) This is stated after charging: 2024 2023 Depreciation of tangible fixed assets: - owned by the charity 12.915 10,463 During the year, no Trustees received any remuneration (2023 - £NIL). During the year. no Trustees received any benefits in kind (2023- £NIL). Independent Examination The Independent Examiner's remuneration amounts to an Independent Examination fee of £1,320 {2023: £1.200). Page 14
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Staff costs Staff costs were as follows". 2024 2023 Wages and salaries 19,440 18.360 The average number of persons employed by the company during the year was as follows: 2024 No. 2023 No. Employee No employee received remuneralion amounting to more than £60,000 in either year. 11. Tangible fixed assets Long-temi leasehold Plant and property machinery Total Cost At 1 April 2023 Additions 526,186 122,565 62,088 588,274 122,565 At 31 March 2024 648,751 62,088 710,839 Depreclatlon At 1 April 2023 Charge for the year 242,275 12,915 62,088 304,363 12,915 At 31 March 2024 255,190 62,088 317,278 Net book value At 31 March 2024 393,561 393,561 At 31 MarGh 2023 283.911 283,911 The bank has a floating charge over the property and fixed assets of the charity. Page 15
THAMES VALLEY GYMNASTICS LIMITED (A Company Limrfed by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Debtors 2024 2023 Other debtors Prepayments and accrued income 492 886 500 890 13. Creditors: Amounts falling due withln one year 2024 2023 Accruals and deferred income 4,280 1.200 14. Statement of funds statement of funds - current year Balance at 31 March 2024 Balance at 1 Aprll 2023 Transfers Inlout Income Expenditure Designated funds Designated Funds - all funds 283,911 (12,9151 122,565 393,561 General funds General Funds - all funds Other General funds 215,338 59,089 (39,115) (122,565) (1201 112,747 (120) 215,338 59,089 (39,2351 (122,565) 112,627 Total Unrestricted funds 499,249 59,089 (52,1501 506,188 Total of funds 499,249 59,089 (52,150) 506,188 Page 16
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Statement of funds (continued) Statement of funds - prior year Balance al 31 March 2023 Balance al l April 2022 Transfers in/oul Income Expenditure Designated Funds - all funds General Funds - all funds 283,483 (10,463) (38,900) 10,891 283.911 212,987 52, 142 (10,891) 215,338 Total of funds 496,470 52,142 (49,363) 499,249 Summary of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Income Expenditurè Designated funds General funds 283,911 215,338 {12,915) 122,565 {39,235) (122,565) 393,561 112,627 59,089 499.249 59,089 (52,150) 506,188 Summary of funds - prior year Balance al 31 March 2023 Balance al l April 2022 Transfers in/oul Income Expenditure Designated funds General funds 283,483 212,987 (10,463J (38, 900) 10,891 (10,891) 283,911 215,338 52. 142 496,470 52, 142 (49, 363) 499,249 Designated funds are used to purchase assets and equipment, and the use of these assets, in relation to the gymnasium. Page 17
THAMES VALLEY GYMNASTICS LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Analysts of net asset5 between funds Analysis of net assets between funds - current year Unrestricted funds 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 393,561 116,907 (4,280) 393,561 116,907 (4,280) 506,188 506,188 Analysls of net assets between funds - prlor year Unrastricted funds 2023 Total funds 2023 Tanglble fixed assets Current assets Creditors due within one year 283,911 216,538 (1.200) 283.911 216,538 (1,200) 499,249 499, 249 16. Related party Iransactions During the year the Charity paid S Newton an amount of £19.440 (2023: £18,360) for the provision of management services. This amount is included in the wages as disclosed in note 10 and has been approved by the trustees. S Newton was also reimbursed expenses of £1,330 (2023: £1.071) in respect of maintenance and office supplies and expenses of £350 (2023 £nil) in respect of legal fees. There was £nil (2023.. £nil) owed to S Newton at the year end. S NeOn is a relative of Mr R J Newton, a trustee of the Charity. Page 18