Registered Company Number: 03439272 Charity Registration Number: 1064907 Moggerhanger House Preservation Trust (Company Limited by Guarantee) Trustees, Report and Unaudited Accounts for the year ended 31 March 2024
Moggerhanger House Preservation Trust Trusteeg Report and Unaudited Accounts For the year ended 31 March 2024 CONTENTS Pages Trustees, Report Independent Examinerfs Report Statements of Financial Activities Balance Sheets Notes to the Accounts 10-11 12-23
Moggerhanger House Preservation Trust Trusteeg Report and Unaudited Accounts Forthe year ended 31 March 2024 The Trustees present their report and unaudited accounts forthe year ended 31 March 2024. Trustees who completed their terms of office during the year 2023124 Andrew Boyd Stupple Kim Pearson David Kenneth Parry (appointed 04104/2023) Ruth Bromhall (resigned 04/04/2023) Kenneth Ebbage (resigned 23107/2023) Chair Andrew Boyd Stupple Registered Office Moggerhanger House Bedford Bedfordshire MK44 3RW
Moggerhanger House Preservation Trust Trustees, Report and Unaudited Accounts Forthe year ended 31 March 2024 The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting of Charities: Statements 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 l January 2015). Objertives and Activities The Chariws principal object and activity continues to be = to preserve for the benefit of the townspeople of Borough of Bedford in the county of Bedfordshire and of the nation at large, the building known as Moggerhanger house, the park, Moggerhanger, Bedford and the land appurtenant thereto and to use the same for the advancement of the Christian religion Public Benefit Statement The Trustees confirm that they have complied with the duty in sertion 4 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on Public Benefit, Charities and Public Benefit. Achievements and performance 2023124 The trustees continue to rnaintain the fabric of the listed building. New trustees have been appointed, aligned to the strategic vision. The new model of preservation, restoration and running of the whole estate began to be enacted during 2024. Financial Review 2023124 Income Income for the year 2023/24 arnounted to £207.5k (2023: £150.4k) an increase of £57k on last year.
Moggerhanger House Preservation Trust Trustees, Report and Unaudited Accounts For the year ended 31 March 2024 Expenditure Charitable expenditure for 2023124 amounted to £389k {2023: £262k) an increase of £127kfrom the prior year, this was in line with the increase in income and management expectations. Reserves Total reserves as at 31 March 2024 were £7.14m (2023: £7.32m) a decrease of £0.2k. The restricted reserves held by the charity were £5.7m (2023: £5.8m) unrestricted resenies as at 31 March 2024 were £1.5m {2023: £1.5m). Further details of the Moggerhanger House Preservation Trusvs reserve policy can be found on page 6. Going Concern The trustees have prepared a business plan as a part of the strategic plan of the Charity, where new sources of income will generate surpluses to invest back in the estate. The existing investment portfolio is being re-mortgaged to raise funds to support us through the transition. Investments Trustees have the power to invest funds if and when they become available, this is kept under periodic review. Structure, Governance and Management The Charity is a company limited by guarantee, governed by a Memorandum and Articles of Association. The Companvs objects and Articles of Association as submitted to the Charity Commission and Companies House follow that: The Centre for Moggerhanger House Preservation Trusvs Board is the ultimate decision-making body to manage the organisation on a day-to-day basis. Trustees will also be known as dirertors.
Moggerhanger House Preservation Trust Trustees, Report and Unaudited Accounts Forthe year ended 31 March 2024 The number of Trustees is subject to a maximum of 12 but shall never be less than four. Any appointment of reappointment of a Trustee will be for a term of three years. The Directors may appoint a person who is willing to art to be a Director. A Directors shall cease to hold ofFice if he or She resigns but this is subject to there being two trustees to remain in office. At each AGM one third of the Trustees will retire from office in order of their respective terms in office. Statement of Trustees, Responsibilities The Trustees (who are also Directors of Centre for Contemporary Ministry 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, which give a true and fair 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 charity for that year. In preparing these financial statements, the Trustees are required to: Select suitable accounting policies and then apply them consistently. Observe the rnethods and principles in the Charities SORP 2019 {FRS 102). Make judgements and estimates that are reasonable and prudent. State whether applicable UK Accounting Standards have been followed, subjert to any material departures disclosed and explained in the financial statements; and 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 disclose with reasonable accuracy at any time the financial position of the Charitable company and enable them to ensure that the financial statements cornply 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. The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Charitable Compan¢s website. Legislation in the
Moggerhanger House Preservation Trust Trusteeg Report and Unaudited Accounts For the year ended 31 March 2024 United Kingdom governing the preparation and dissemination of the financial statements May differ from legislation in other jurisdictions. Trustee induction and training Once new Trustees have been appointed, they go through an internal induction process where they are invited to meet key Trustees. During their induction, new Trustees are briefed on their legal obligations under charity and company law. Organisation The governing body of the Charity is the Board of Trustees, which met quarterly during the year 2023/24. There are 3 Trustees currently in office. On the Board meeting held December 2022, under the Articles of Association {2) and (3) the Board agreed to admit harvest Vision Limited as the sole member of the Charity. Risk and Internal Control The Trustees have overall responsibility for ensurin8 that the Charity has an appropriate system of controls, financial and otherwise. Trustees are also responsible for safeguarding the assets of the Charity and taking reasonable steps for the prevention and detettion of fraud and other irregularities providing reassurance that: The Charity complies with relevant laws and regulations. Its assets are safeguarded against unauthorised use or disposition. Proper records are maintained, and financial information used within the Charity or for publication is reliable. The principal risks facing the Charity are financial in ensuring that sufficient monies are available to ensure the continuity of ongoing activities of the Charity. The Charity is looking to mitigate this risk by reviewing diverse and sustainable sources of income to achieve its strategic objectives. Reserves Policy A majority of the Charitvs assets are in the form of buildings, land or chattels which are germane to the Soane building, the Repton landscape and heritage.
Moggerhanger House Preservation Trust Trustees, Report and Unaudited Accounts Forthe year ended 31 March 2024 At certain times there may be cash in the form of grants for specific purposes or projects and which must be accounted for to the grantor. These are considered restricted funds. The charity investments consist of solely property which is part of the estate and considered integral to the operation of the Charity. The Charity has free reserves of £nil (2023 =£nil). The building up of cash reseeS to fund future dilapidations and improvements continues to be of paramount importance to the Trustees. Plans for the future The vision for the future is aligned with the "Original Intenv, or vision for the use of the estate that was published in 1986. Moggerhanger Park would be a centre where leaders would gather, away from the daily routine of life and work, for the purpose of seeking what God is saying to them for their task of leadership. These include leaders from political life, industry, academia and the Church. The move to this model was being executed during the year. Kim Pearson Trustee Date: 31 December 2024
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Moggerhanger House Preservation Trust Trustees. Report and Unaudited Accounts For the year ended 31 March 2024 Statement of Financial Activities Including Income and Expenditure Account For The Year Ended 31 March 2024 Unrestricted Restricted Total Total Notes Funds Funds 2024 2023 Income Donations and grants Charitable activities Investment income Other income 4.724 170.947 29,761 2.100 6.824 170,947 29,761 54,332 26,303 31,168 38,669 Total incoming resources enditure 205.432 2.100 207.532 150,471 Charitable activities Other Expenses 263.235 14.426 263,235 125.865 135,858 126,191 111.439 Total expenditure 277,662 111.439 389.100 262,049 Transfer between reserves 2.100 {2.100) Net movement in funds {70,129) (111.439) (181.568) {111,578) Reconciliation of Funds Fund Balance at l April 2023 1,532.381 5,788,284 7.320,665 7.432,243 Total f unds carTied forward 1.462,252 5.676.845 7,139.097 7,320.665 All of the activities of the Charitable Company are classified as continuing. The notes on pages 12-23 form part of these financial statements.
Moggerhanger House Preservation Trust Trustees, Report and Unaudited Accounts Forthe year ended 31 March 2024 Balance Sheet As at 31 March 2024 2024 2023 Notes Fixed Assets Tangible Assets Heritage assets Investments 580,917 5.187,460 1,653,059 7.421.436 706,641 5,187,460 1,653,060 7,547,161 Current Assets Debtors Cash at bank and in hand 33.997 56 9,656 7,590 17,247 34,053 Current liabilities Amounts falling due within one year (183,869) (88,171) Net current assets (149,816) (70,924} Total assets less current liabilities 7,271,619 7,476,237 Long term liabilities Amounts falling due greater than one year (132.522) (155,572) Net Assets 7.139,097 7,320,665 The funds of the Charity Restricted funds Heritage Assets Restoration of Moggerhanger House and landscape 5,187.460 5,187,460 489.385 600,824 5,676,845 1,462.252 5,788,284 1,532,382 Unrestricted funds 7.139,097 7,320,665 10
Moggerhanger House Preservation Trust Tru5tees' Report and Unaudited Accounts Forthe year ended 31 March 2024 For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2(X)6 related to small companies. The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the provisions applicable to small companies subject to the small companies, regime and in accordance with FRS102 SORP. The notes on pages 12-23 form part of these financial statements Approved by the Board of Trustees 31 December 2024 and signed on its behalf by: Kim Pearson Trustee 11
Moggerhanger House Preservation Trust Trustees, Report and Unaudited Accounts Forthe year ended 31 March 2024 Notes forming part of the Financial Statements for the year ended 31 March 2024 Accounting Policies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: (a) Basis of Preparation 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 (FRS 102) {effective January 2019) {Charities SORP FRS 102) and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). They are prepared in sterling which is the functional currency of the Charitable Company and rounded to the nearest £1. {b} Preparation of the accounts on a going concern basis The Trustees have considered the financial sustainability of the charity for both existing and future funding streams. The Trustees are confident that both the cost management measures taken as well as the decision to re- mortgage the existing investment portfolio will secure the immediate future of the charity. This assessrnent is made for the next 12 to 18 months and it is on that on this basis the assessment of the trustees is that the Charity is a going concern. (c} Income All incoming resources are included in the statement of financial activities when the Charity is entitled to the income. there is sufficient certainty of receipt and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income. 12
Moggerhanger House Preservation Trust Trustees, Report and Unaudited Accounts Forthe year ended 31 March 2024 Donations services orfacilities are recognised when the company has control over the item, any conditions associated with the donated item have been rnet, the receipt of the economic benefit from the use of the company of the item is probable and such a benefit can be measured reliably. In accordance with the Charities SORP (FRS 102). the time of volunteers is not recognised. On receipt donated services and facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain the services/facility of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Trading income is recognised when an event takes place. Rental income is recognised when received with any income in advanced being deferred to the relevant period. Grant income is recognised inline with the agreement or when expenditure is incurred. Interest on funds held on deposit is included when received. (d) Expenditure Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. The accounts are prepared on the accruals basis, liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity to expenditure. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. Expenditure on raising f unds consists of all those expenses that are incurred by trading for a fundraising purpose in either donated or brought-in-goods or in providing non-charitable services to generate income, as well as the costs associated with attracting voluntary income. 13
Moggerhanger House Preservation Trust Trustees, Report and Unaudited Accounts Forthe year ended 31 March 2024 Expenditure on charitable activities comprise all the resources applied by the Charity in undertaking its work to meet its charitable objectives as well as the cost of raising the funds to finance these activities and governance costs. Charitable activities are all the resources expended by the Charity in the delivery of goods and services. including its programme and project work that is directed at the achievement of its charitable aims and objectives. These costs include direct costs of the charitable activities together with those support costs incurred that enable these activitie5 to be undertaken, as well as governance costs which relate to the general running of the Charity as opposed to the direct management functions inherent in generating funds, service delivery and programme of project work. These activities provide the governance infrastructure which allows the Charity to operate and to generate the information required for public accountability and include the strategic planning purposes that contribute to future development of the Charity. Governance costs include such items as external audit, legal advice for Trustees and costs associated with the constitutional and statutory requirements of the Charity. All costs are allocated between the expenditure categories of the Statement of Financial Activities (SOFA) on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis. (e) Tangible fixed assets Depreciation is provided at the following rates in order to write off each asset over its estimated useful life:_ Improvements to property -10% on cost Plant and machinery -not provided Fixtures and fittings -33% on cost Freehold property improvements relate to landscaping works completed at Moggerhanger. These works were completed in 2016 and maintenance work will be required in future years to prevent any visual deterioration. As a result, the landscaping works were depreciated over 50 years. Since April 2019 the policy was changed to depreciated over 10 years. The Trustees considered their value to be impaired. 14
Moggerhanger House Preservation Trust Trustee5' Report and Unaudited Accounts For the year ended 31 March 2024 Antiques relate to items of antique furniture purchased for use within Moggerhanger House. Although these assets are in use, due to the nature the Trustees considered their value to be impaired. {fj Heritage assets Heritage assets are fixed assets which are of historical significance and are held in order to support the preservation and conservation objectives of the Charity. As such, they comprise of Moggerhanger House and ground, which is carried at the original cost or valuation when it was transferred to the Charity plus the cost of additions to date to restore both the property and grounds. Heritage assets are not depreciated, as the Trustees consider that the lives of these assets are sufficiently long and their residual value, based on prices prevailing at the time of acquisition and subsequent valuation, are sufficiently high that their depreciation is insignificant. Any permanent diminution in value caused by obsolescence is charged to the SOFA as appropriate. Any general repairs and maintenance are written off in the year to which they relate. (g) Investment property Investment property is shown at its most recent valuation. Any aggregate surplus or deficit arising in changes to fair value is recognised in the SOFA. (h) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three to six months. (i) Fund Accounting General funds are unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds can only be used in accordance with specific restrictions imposed by donor, or which have been raised by the company for a particular purpose. The cost of raising and administering such funds are charged 15
Moggerhanger House Preservation Trust Trustees, Report and Unaudited Accounts For the year ended 31 March 2024 against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 2 Legal status of the Trust The Charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. 3 Income Donations and legacies income Unrestricted 2024 Restricted 2024 Total 2024 Total 2023 Donations Grants 4,724 2.100 6,824 41,243 13,089 Totsl 4,724 2,100 6,824 54,332 The Grant income for £13,089 in 2023 was restricted. Charitable activities income Unrestricted 2024 Restricted 2024 Total 2024 Total 2023 Events Accommodation Tea room and catering Other 10,899 74,544 74.812 10.692 10.899 3,155 74.544 5,011 74.812 16,930 10.692 1,207 Total 170,947 170.947 26,303 All income in 2023 was unrestricted. Investment income Unrestricted 2024 Restrirted 2024 Total 2024 Total 2023 Rents received Bank Interest 29,580 181 29,580 30,980 181 188 16
Moggerhanger House Preservation Trust Trustees. Report and Unaudited Accounts For the year ended 31 March 2024 Total 29,761 29,761 31,168 All income in 2023 was unrestricted. Other income Unrestrirted 2024 Restricted 2024 Total 2024 Total 2023 National Heritage Bedfordshire Rural Central Beds Council 25,000 10,489 3,180 Total 38,669 4 Expenditure The Statement of Financial Activities provides an analysis of the resources expended by the charity by the nature of activities undertaken by the charity. Resources expended are split into two main activity categories: (a) Expenditure on Charitable Activities and (b) Costs of raising funds (a) Expenditure on charitable artivities (b) Expendit ure on raising funds 2024 2023 Total Total March 23 Marketing Staff costs Training Catering, Room and event costs Building and ground maintenance Insurance Rates and utilities Telephone Sundries Waste Legal and professional Bad Debts Bank charges 434 61,577 61,577 19,293 50,433 27,630 23.271 56.544 6.058 10.540 3.082 9.753 (2,143) 2,386 50N33 27,630 23,271 56,544 6,058 10,540 3,082 9,753 {2,143) 2,386 10,502 12,643 28,183 27,549 3,936 318 900 3,933 17,635 403 17
Moggerhanger House Preservation Trust Trustees, Report and Unaudited Accounts For the year ended 31 March 2024 Bank loan interest Depreciation Governance costs 10,563 125.865 3,108 10,563 125,865 3,108 7,732 126,191 4,7CK) Total Resources Expended 389.100 389,100 263,918 In 2023 £150,476 of Charitable expenditure was unrestricted, £111,573 restricted. AII 2023 governance costs were unrestricted. Net Income/(Expenditure) Net Income/(Expenditure) is stated after charging/(crediting)- 2024 2023 Independent examiner fees Accountancy fees Depreciation owned assets 600 2,500 125.865 2,200 2,500 126,191 5 Trustees No Trustee or any persons connected with them received any remuneration or expenses during the year {2023: nil). 6 Staff costs 2024 2023 Wages and salaries Other pension costs 60,811 766 15,229 2,195 61.577 17,424 The average number of employees in the year was 3 {2023:1). No employee received employee benefits {excludin8 employer pension costs) of more than £60,000 (2023: nil). 18
Moggerhanger House Preservation Trust Trusteeg Report and Unaudited Accounts Forthe year ended 31 March 2024 7 Tangible Fixed Assets Improvements to property Plant & Machinery Fixtures and fittings Totsl Costs As 01 April 2023 Additions Disposals 1.245,0 32.462 221,567 140 1,499,029 140 As at 31 March 2024 1,245.000 32,462 221,707 1,499,169 Depreciation As 01 April 2023 Charge for the year Disposa15 572,155 124.5LK) 220,233 1.365 792,388 125,865 As at 31 March 2024 696.655 221,598 918,253 Net Book Value 31 March 2024 548,345 32.462 109 580,917 Net Book Value 31 March 2023 672.845 32,462 1,334 706,641 8 Heritage assets Moggerhanger House & grounds Costs less impairment As l April 2023 Additions 5.187,460 As at 31 March 2024 5,187,460 Net Book Value 31 March 2024 5,187.460 Net Book Value 31 March 2023 5,187,460 There have been no heritage asset transactions in the last five years. The Charity holds in trust Moggerhanger House and ground. National and international standards in the care of the house and grounds and followed with every endeavour to protect and safeguard the asset for future generations. 19
Moggerhanger House Preservation Trust Trustees, Report and Unaudited Accounts Forthe year ended 31 March 2024 9 Investments Fixed asset Investments Shares in group undertakings Costs As 01 April 2023 As at 31 March 20Z4 Provlsions As 01 April 2023 and 31 March 2024 As at 31 March 2024 Net Book Value 31 March 2024 Net Book Value 31 March 2023 There were no investment assets outside of the UK. At the balance sheet date, the companvs investment in shares included - Moggerhanger Park Services Limited -100% Ordinary shareholding Registered company number 13621750 Moggerhanger Park Limited -100% Ordinary shareholding Registered company number 04964099 Moggerhanger Park Services Limited (MPSL) was incorporated on 14 September 2021 and is a wholly owned subsidiary of Moggerhanger House Preservation Trust. On 20 January 2023 liquidators were appointed for MPSL. The balance with MPSL has therefore been provided for. Moggerhanger Park Limited is a wholly owned subsidiary of Moggerhanger House Preservation Trust and is currently not trading INVESfMEr PROPERTY Costs less impairments As l April 2023 1.653,059 As at 31 March 2024 1.653,059 Net Book Value 31 March 2024 Net Book Value 31 March 2023 1,653,059 1,653,059 20
Moggerhanger House Preservation Trust Trustees. Report and Unaudited Accounts Forthe year ended 31 March 2024 The 2024 valuations were rnade by Trustees, on an open market value for existing use basis. Cost less irnpairment as at 31 March 2024 is represented by: Valuation in 2009 234,035 Valuation in 2012 (i(K),000) Costs 1,519,024 1,653.059 10 Debtors 2024 2023 Prepayments VAT 33.997 187 9,469 33,997 9,656 An amount of £15,492 is due from Moggerhanger Park Services Limited (2023: £17,635) as the company has gone into liquidation, this amount has been fully provided for as at 31/03/2024. 11 Creditors arnounts falling due within one year 2024 2023 Bank loans and overdrafts Trade creditors Accruals and deferred income Taxation and social security Other creditors 25,646 122,271 49,046 47,127 1,168 7,261 16,439 14,913 183.869 104,602 As at 31103/2024 within accruals and deferred income there is £1.5k which relates to deferred income {2023: £11.7k). This relates to amounts paid in advance for accommodation and afternoon tea for the financial year 2025. Within Bank loans and overdraft £25,646 is a secured debt compromising of a mortgage on the investment property which sits Within investments. 21
Moggerhanger House Preservation Trust Trusteeg Report and Unaudited Accounts Forthe year ended 31 March 2024 12 Creditors amounts falling due greater than one year 2024 2023 Bank loans 132.522 161,471 Total 132,522 161,471 Within Bank loans £132,522 is a secured debt compromising of a mortgage on the investment property which sits within investments. 13 Taxation The Company is a registered Charity, and no provision 15 considered necessary for taxation to the extent that income and gains are applied to its charitable objects. 14 Related party transartions One of the Trustees, Kim Pearson, is a director of Green Caterpillar Consulting Ltd which provided accountancy services during the year of £2.5k (2023: £2.5k). There are no other related party transactions. The charity shares common trustees and offices with the following charities and companies: Harvest Vision Limited Selwyn Charity Trust The Friends of St Marys Godmanchester Holkham Walled Garden The Georgian Group Lutyens Trust Vernacular Architecture Group St Albans Diocesan Board of Finance Moggerhanger Village Hall Friends of St John's Church, Moggerhanger 15 Analysis of Fund Movements Balance at I Movement in funds Transfer of funds Balance at 31 April 2023 Income Expenditure March 2024 22
Moggerhanger House Preservation Trust Trustees. Report and Unaudited Accounts Forthe year ended 31 March 2024 Restrirted Funds Unrestricted Funds 5,788,284 1,532,382 2,100 205,433 111,439 277,663 (2.100) 2,100 5,676,845 1,462,252 Total Funds 7.320,665 207,533 389,100 7,139,097 Transfer of funds Balance at I Movement in funds Balance at 31 April 2022 Income Expenditure March 2023 Restricted Funds Unrestricted Funds 5,866,332 1,565,911 13.089 137,383 111,573 150,476 20,436 (20,436) 5,788,284 1,532,382 Total Funds 7,432,243 150,471 262,049 7,320,665 16 Analysis of Net Assets Between Funds Unrestrirted Restricted funds funds Total Fund balances at 31 March 2024 are represented by: Fixed Assets Current Assets Current liabilities Long term liabilities Total 1.744.591 5,676.845 7,421,436 34,053 34,053 (183.870) (183,870) {132,522) (132,522) 1.462,252 5,676,845 7,139,097 Fund balances at 31 March 2023 are represented by: Fixed Assets 1,758,877 Current Assets 17,247 Current liabilities (88,171) Long terrn liabilities (155,572) Total 1,532,381 5,788,284 7,547,161 17,247 (88,171) (155,572) 5,788,284 7,320,665 23