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← Egerton Out Of School Club Limited

2024-08-31-accounts

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2024 Accounts

Egerton Out of School Club Limited

EOOSC Ltd ye 31.08.2024 Accounts for Filing.pdf

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Allanson, Helen

Helen Allanson

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Charity registration number 1064696

Company registration number 3325990 (England and Wales)

EGERTON OUT OF SCHOOL CLUB LIMITED T/A EGERTON NURSERY AND OUT OF SCHOOL CLUB ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

EGERTON OUT OF SCHOOL CLUB LIMITED T/A EGERTON NURSERY AND OUT OF SCHOOL CLUB LEGAL AND ADMINISTRATIVE INFORMATION

Trustees H Allanson
M Valli
J Garnsey
Charity number 1064696
Company number 3325990
Registered office Egerton Out of School Club Ltd
Cox Green Road
Egerton
Bolton
Lancashire
BL7 9RE
Independent examiner David Wood Wilson BA FCA
Hindle Jepson & Jennings Ltd
10 Borough Road
Darwen
Lancashire
BB3 1PL
Bankers The Co-Operative Bank - Skelmersdale
PO Box 250
Skelmerdale
Lancashire
England
WN8 6WT
Solicitors Winder Taylor Smith
139 Church Street
Horwich
Bolton
Lancashire
BL6 7BR

EGERTON OUT OF SCHOOL CLUB LIMITED T/A EGERTON NURSERY AND OUT OF SCHOOL CLUB CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 15

EGERTON OUT OF SCHOOL CLUB LIMITED T/A EGERTON NURSERY AND OUT OF SCHOOL CLUB TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2024

The Trustees present their annual report and financial statements for the year ended 31 August 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s memorandum and articles of association incorporated 28 February 1997, the 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

The setting was built from new in 1998, with the aid of a grant from the Lottery Fund.

The Trustees are responsible for the overall direction of the company. The day to day operating is organised by a manager, appointed by the DirectorTrustees, supported by appropriately qualified senior and ancillary staff.

The main activity of Egerton Out of School Club Limited is the provision of childcare in a safe, caring and stimulating environment throughout the year. Specifically through the main activities of registered child care for children from the local community that are;

Public benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

The Trustees are proud that our setting continues to provide a high-quality childcare service to our community with a core group of dedicated and highly skilled staff.

Nursery numbers have continued to grow however, we have found cost of living pressures together with a change in parents’ working patterns have meant that out of school club numbers have remained largely static.

In reviewing the various activities, the Trustees have taken the following decisions in 2023/24 to ensure that Egerton Out of School Club Limited remains successful and sustainable and continues to provide the “good” (Ofsted Inspection January 2020) quality services for the community it serves:

EGERTON OUT OF SCHOOL CLUB LIMITED T/A EGERTON NURSERY AND OUT OF SCHOOL CLUB TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Financial review

The results for the year are set out in details in the Statement of Financial Activities on page 4.

The Trustees have invested in the management structure, facilities and the training and development of staff to provide high quality childcare, which meets statutory requirements, for the community.

The Trustees continue to review the services provided to ensure that they are fulfilling the required community needs at an affordable but sustainable rate.

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Major risks

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a company limited by guarantee.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

H Allanson M Valli J Garnsey J Sharples (Resigned 25 September 2023)

Recruitment and appointment of trustees

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The Trustees are responsible for the overall direction of the company and the day to day activities are organised by the managers as appointed by the Trustees, with the support and assistance of the ancillary staff, who are recruited and appointed by the managers.

The trustees' report was approved by the Board of Trustees.

H Allanson Trustee

14 May 2025

EGERTON OUT OF SCHOOL CLUB LIMITED T/A EGERTON NURSERY AND OUT OF SCHOOL CLUB INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF EGERTON OUT OF SCHOOL CLUB LIMITED

I report to the Trustees on my examination of the financial statements of Egerton Out Of School Club Limited (the charity) for the year ended 31 August 2024.

Responsibilities and basis of report

As the Trustees of the charity (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 charity 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 charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

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:

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 financial statements to be reached.

David Wood Wilson BA FCA

Hindle Jepson & Jennings Ltd 10 Borough Road Darwen Lancashire BB3 1PL

Dated: 14 May 2025

EGERTON OUT OF SCHOOL CLUB LIMITED T/A EGERTON NURSERY AND OUT OF SCHOOL CLUB STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2024

Unrestricted Unrestricted
funds funds
2024 2023
Notes £ £
Income from:
Donations and legacies 3 4,553 4,553
Charitable activities 4 278,773 248,232
Investments 5 3,479 3,599
Total income 286,805 256,384
Expenditure on:
Charitable activities 6 286,268 261,065
Total expenditure 286,268 261,065
Net gains/(losses) on investments 12 9,620 (2,846)
Net income/(expenditure) and movement in funds 10,157 (7,527)
Reconciliation of funds:
Fund balances at 1 September 2023 104,024 111,551
Fund balances at 31 August 2024 114,181 104,024

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

EGERTON OUT OF SCHOOL CLUB LIMITED T/A EGERTON NURSERY AND OUT OF SCHOOL CLUB BALANCE SHEET

AS AT 31 AUGUST 2024

Notes
Fixed assets
Tangible assets
14
Current assets
Debtors
15
Investments
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
18
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
19
Deferred income
20
Net assets
The funds of the charity
Unrestricted funds
22		 2024
£
4,663
129,188
37,052
170,903
(33,951)		 £
20,594
136,952
157,546
(30,477)
(12,888)
114,181
114,181
114,181		 2023
£
1,218
119,568
44,179
164,965
(33,839)		 £
24,834
131,126
155,960
(34,495)
(17,441)
104,024
104,024
104,024

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2024.

The directors 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on 14 May 2025

H Allanson

Trustee

Company registration number 3325990 (England and Wales)

EGERTON OUT OF SCHOOL CLUB LIMITED T/A EGERTON NURSERY AND OUT OF SCHOOL CLUB NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

Charity information

Egerton Out Of School Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Egerton Out of School Club Ltd, Cox Green Road, Egerton, Bolton, Lancashire, BL7 9RE.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's memorandum and articles of association incorporated 28 February 1997. the 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

EGERTON OUT OF SCHOOL CLUB LIMITED T/A EGERTON NURSERY AND OUT OF SCHOOL CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

(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 activity. Direct costs 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 attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Resources expended are allocated to the particular activity where the cost relates directly to that activity (in accordance with the SORP). Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resource.

Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold buildings 3.3% straight line on cost Toys and equipment 33.3% straight line on cost Fixtures, fittings & equipment 33.3% straight line on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

EGERTON OUT OF SCHOOL CLUB LIMITED T/A EGERTON NURSERY AND OUT OF SCHOOL CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

(Continued)

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12 Grants

Grants receivable for capital expenditure are credited to the statement of financial activities over the same time period as the assets to which they relate to are depreciated.

Grants towards revenue expenditure are released to the profit and loss account as the related expense is incurred.

EGERTON OUT OF SCHOOL CLUB LIMITED T/A EGERTON NURSERY AND OUT OF SCHOOL CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Grants 4,553 4,553
4 Income from charitable activities
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Charitable activites
Services provided under contract 278,773 248,232
5 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 3,479 3,599

EGERTON OUT OF SCHOOL CLUB LIMITED T/A EGERTON NURSERY AND OUT OF SCHOOL CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

6 Charitable activities

2024 2023
£ £
Staff costs 215,287 200,565
Depreciation and impairment 5,056 5,152
Refreshments 14,510 12,481
Toys and equipment 4,779 3,045
Room and playground hire 1,594 1,280
Lease of land 129 516
Heating, light and water 6,667 6,827
Repairs, maintenance and cleaning 12,766 10,634
Insurance 2,088 2,183
Telephone 2,187 1,887
Printing and stationery 1,559 1,471
Advertising incl. website costs 298 827
Lease of equipment 1,941 1,863
Bank charges 15 187
Sundry 2,062 1,058
Staff training and welfare 1,133 847
Specialist sessions 2,987 1,429
275,058 252,252
Grant funding of activities (see note 7) 1,526 1,545
Share of governance costs (see note 8) 9,684 7,268
286,268 261,065
Analysis by fund
Unrestricted funds 286,268
286,268
For the year ended 31 August 2023
Unrestricted funds 261,065
261,065
7 Grants payable
Costs of Costs of
generating generating
funds funds
2024 2023
£ £
Grants to institutions:
Other 1,526 1,545

EGERTON OUT OF SCHOOL CLUB LIMITED T/A EGERTON NURSERY AND OUT OF SCHOOL CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

8 Support costs allocated to activities

Governance costs
Analysed between:
Costs of generating funds
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets		 2024
£
9,684
9,684
2024
£
5,056		 2023
£
7,268
7,268
2023
£
5,152

10 Trustees

None of the Trustees (or any persons connected with them) received any remuneration during the year.

11 Employees

The average monthly number of employees during the year was:

Administrative
Child Care
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
Aggregate compensation		 2024
Number
1
9
10
2024
£
202,666
8,967
3,654
215,287
2024
£
32,706		 2023
Number
1
10
11
2023
£
190,225
6,767
3,573
200,565
2023
£
37,363

EGERTON OUT OF SCHOOL CLUB LIMITED T/A EGERTON NURSERY AND OUT OF SCHOOL CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

12 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2024 2023
Gains/(losses) arising on: £ £
Revaluation of investments 9,620 (2,198)
Sale of investments - (648)
9,620 (2,846)

13 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

14 Tangible fixed assets

Leasehold
buildings
Toys and
equipment
Fixtures,
fittings &
equipment
£
£
£
Cost
At 1 September 2023
142,174
19,077
35,097
Additions
-
816
-
At 31 August 2024
142,174
19,893
35,097
Depreciation and impairment
At 1 September 2023
117,730
18,687
35,097
Depreciation charged in the year
4,739
317
-
At 31 August 2024
122,469
19,004
35,097
Carrying amount
At 31 August 2024
19,705
889
-
At 31 August 2023
24,444
390
-
Debtors
2024
Amounts falling due within one year:
£
Prepayments and accrued income
4,663		 Total
£
196,348
816
197,164
171,514
5,056
176,570
20,594
24,834
2023
£
1,218

15 Debtors

EGERTON OUT OF SCHOOL CLUB LIMITED T/A EGERTON NURSERY AND OUT OF SCHOOL CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

16 Current asset investments

2024 2023
£ £
Listed investments 129,188 119,568

Current asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

Listed investments comprise of funds held in the COIF charity investment fund.

17 Loans and overdrafts

Bank loans
Payable within one year
Payable after one year		 2024
£
36,021
5,544
30,477		 2023
£
40,705
6,210
34,495

18 Creditors: amounts falling due within one year

Notes
Bank loans
17
Other taxation and social security
Payments received on account
Trade creditors
Other creditors
Accruals
19
Creditors: amounts falling due after more than one year
Notes
Bank loans
17		 2024
£
5,544
3,706
8,068
2,627
11,996
2,010
33,951
2024
£
30,477		 2023
£
6,210
2,611
12,806
818
7,581
3,813
33,839
2023
£
34,495

EGERTON OUT OF SCHOOL CLUB LIMITED T/A EGERTON NURSERY AND OUT OF SCHOOL CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

20 Deferred income

Arising from Other grants
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Shown as deferred income on the face of the balance sheet
Movements in the year:
Deferred income at 1 September 2023
Released from previous periods
Deferred income at 31 August 2024		 2024
£
12,888
2024
£
12,888
17,441
(4,553)
12,888		 2023
£
17,441
2023
£
17,441
21,994
(4,553)
17,441

During the year £4,553 was released from deferred income to match the depreciation charged on assets purchased from the grant received.

21 Retirement benefit schemes
2024 2023
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 3,654 3,573

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

22 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 Incoming Resources Gains and At 31 August
September resources expended losses 2024
2023
£ £ £ £ £
General funds 104,024 286,805 (286,268) 9,620 114,181

EGERTON OUT OF SCHOOL CLUB LIMITED T/A EGERTON NURSERY AND OUT OF SCHOOL CLUB NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

22 Unrestricted funds (Continued)
Previous year: At 1 Incoming Resources Gains and At 31 August
September resources expended losses 2023
2022
£ £ £ £ £
Maintenance Fund 40,000 - - - 40,000
General funds 71,551 256,384 (261,065) (2,846) 64,024
111,551 256,384 261,065 (2,846) 104,024

23 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).