Charity registration number 1067733 (England and Wales} Company registration number 03490904 GL3 COMMUNITY HUB LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
GL3 COMMUNITY HUB LTD LEGAL AND ADMINISTRATIVE INFORIftATION Trustees MrDCox Mrs A Holder MrJ LGooch Mr P J Anlill Mrs P W Austin MrsA Lawson Mrs T Lewis Miss N J Wizard Mr P Elksnis (Appointed 8 November 2025) (Resigned 10 October 2Q25) (Resigned 10 October 2025) (Resigned 10 October 2025) (Resigned 6 March 2025) (Resigned 13 October 2025) (Appointed 6 March 2025 and resigned 28 October 2025) (Appointed 6 March 20251 (Appointed 8 November 2025) (Appointed 8 Novernber 2025) (Appointed 8 November 2025) (Appointed 8 Novembèr 2025) Miss K Rennebath MrSRWSweet Mrs D A Clarke Mr E Lowe Miss T Rennebach Charlty number 1087733 Company number 03490904 Reglstered offlce Chellenham Road East Churchdown Gloucester Glouceslershire England GL3 1HX Independent examiner BK Plus Limited 6 Manor Park Business Centre Mackenzie Way Chellenham Gloucestershire England GL519TX
GL3 COMMUNITY HUB LTD TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with Ihe accounting policiès sel out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordsnce with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" {effeclive 1 January 20191. Objectlves and Activities Mlsslons and Goals The GL3 Community Hub remains commilled lo ils mission, as slated in Ihe Wision Statemenl "To provid49 universal yotjth seNicés, as well as heallh, social. 8nvironménlal, and ediicalional opportunili8S. The Hub's objectives Gonlinue to focus on.. Organising local social and activily-based drop-in groups for children, young ople, families. and the broader community. Establishing so¢ial, educational, and adivity-based facilities for children, young people, families, and the broader community. Providing local facilities for individuals with learning difficullies. Offering educational and training programmes for residents of all age groups. Facilitating volunteering opportunities lo reduce isolalion and promole active citizenship. Public benefit The charity continues lo provide public benefit in line with ils mission lo support Ihe residents of Churchdown and surroui)ding areas. This year, grant funding from Groundwork UK has enabled us lo become more energy efficient by installing solar panels, destralification fans in our Sports H811, and upgrading Ihe building with external and internal LED lighting. With the ald of S106 monies, we have now upgraded the Sports Hall roof. This improvement has ensured uninlerrupied services lo the community and provided a safer and more reliable space for our groups and aclivilies. Achievements and performance This year has seen significant progress and developmenl in the services and offerings provided by Ihe GL3 Community Hub. Key achievements include.. The Sports Hall roof was Teplaced with funds from Ihe S106 funds. Governmenl funding was secured for adding solar panels to Ihe building. Deslralificalion fans were installed in the Sports Hall lo reduce our carbon footprint and make the building more energy efficient. Our men's mental health peer-lo-peer support project continues to grow, and we are now expanding our rèach Ihroughout the community, also allowing our volunteers to branch oul furthei beyond Churchdown. We are now engaged in a community partnership with the NHS and are hosting baby weigh-ins and health checks. Significant increases in Food Bank usage through our partnership with Hungry No More, alongside strategies to secure ongoing food donations lo meet demand. We have had a successful SEND Senioryouth Club project, one of the first of ils kind locally.
GL3 COMMUNITY HUB LTD CONTENTS Pag8 Trustees report Independent examiner's report Slalemenl of financial activities Statement of financial posllion Notes lo the financial slalemenls 7-15
GL3 COMMUNITY HUB LTD TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financial revlew Investment Pollcy and Objectives Due to limited unallocated funds. interest earned on bank deposits remains satisfactory for the charity. No surplus funds were available during the year. Reserve policy In light of rising ulilily costs and the increasing difficulty in securing grant funding, Ihe Trustees have prudently increased Ihe charity's reserve policy lo cover nine months of running costs plus a 100/0 allowance lo account for ulilily increases. Additionally. £30,000 has been set aside lo cover any costs outside of the S106 monies ¢onlingency lo finalise the building in)provemenls. Funds have also been designaled to cover repairs and maintenance lo the sports hall of £37,000, regiazing of the building of £18,000 and IT infraslructure development of £15,000. Flnancial perfomiance The introduction ol solar panels is showing an immediate improvement in reducing energy bills. Despite these improvements, a shortlall remains, and granl funding is being aclively soughl to bridge this gap. To further improve income, a marketing strategy is being developed lo make bookings for personal hire easier wilh online lools. Future plans S106 Funding Ongoing building works will targel the Annex by replacing the glass windowed roof with a more energy-afficlenl metal roof with insulation, lo control temperatures and allow the use of the room during the summer, combating exlreme heal. This will also improve room hire availability lo help increase revenue. We are in discussions to add communily partnerships with the DWP, Midwifery with the NHS, and Cilizens Advice, lo use our faci5ilies and give those in need easy accessibility to these seNices in the area. Structure, governancè and management Governing document The charity is conlrolled by its governing do¢umenl, a deed of trust, and consliluted a limited company, limited by guarantee, as defined under the CompaniesAcl 2008. The Hub is constiluled as a company limited by guarantee, devoid of share capital. In the event of winding up, If li8bililies surpass assets, each memberfs liabilily is limiled to £1. The governing document for the Hub is ils Memorandum and Articles ofAssoaalion. Board of Trustees The Board of Trustees provides governance for the Hub. The Board continues to meet hmonthly, with subgroups for specific projects. The Hub is run by a small operational team led by a full-time Managerlcoordinator. Rlsk Management The Board of Trustees continues to monitor and manage risks. particularly in Ihe areas of heallh and safely and building compliance. This year, new risks have emerged, most nolably increased wages, which have placed pressure on the charity's financial resources. Room hire charges have been adjusted accordingly, and further grant funding is being sought to address shortfalls. Addilionally, markeling plans are in place lo generale more weekend hires for birthday partie5 and other events. which will help sustain income.
GL3 COMMUNITY HUB LTD TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 statement of trusteés responsibilities The trustees, who are also the directors of GL3 Community Hub Ltd for the purpose of company law. are responsible for preparing the Trustees Report and the financial slalements in accordance wilh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company12w requires the trustees lo prepare financi21 statements for each financial year which give a true and fair view of the slate of affairs of the charily and of the incoming resources and application of resour$, including the income and expenditure. of the charitable company for thal year. In preparing these financial slalements, the truslees are required to-. selècl suitable accounting policies and then apply them consistently., obsèrve the methods and principles in Ihe Charities SORP., make judgements and estimates that are reasonable and prudenl., slate whether applicable UK Accounting Standards have been followed, subject lo any material departures disclosed and èxplained in Ihe financial stalemenls., and prepare the financial slalemenls on the going concern basis unless il is inappropriale lo presum8 thal the charity will continue in operation. The trustees are responsible for keeping adequate accounting records Ihal disclose with reasonable accuracy al 8ny time the financial position of the charily 2nd enable Ihem lo ensure that the financial slalem8nls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of Ihe charity and hence for taking reasonable steps for the prevenllon and deleclion of fraud and other irregularities. The trustees report was approved by the Board of Trustees. MrSR Wsweel Trustee 13 December 2025
GL3 COMMUNITY HUB LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GL3 COMMUNITY HUB LTD I report to the trustees on my examination of the financial statements of GL3 Community Hub Lld {the charily) for the year ended 31 March 2025. Responsibilitles and basis of report As the trustees of the charity (and also its directors for the PLÈrposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of Ihe Companies Act 2006. Having satisfied myself that the financial slatements of the Chariiy are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independenl examination, I report in respect of my examinalion of the charity's financial slalemenls carried out under section 145 of Ihe Charities Acl 2011. In carrying oul my examination I have followed the Directions given by the Charity Commission under section 145{5)(bl of the Charities Act 2011. Independent examiner's statement Slnce Ihe ch2rily'S gross income exceeded £250.000, the independenl examiner musl be a member of a body listed in section 145 of the Charities Act 2011.1 confirm thal l am qualified lo underlake Ihe examination because l am a member of Th8 Inslllute of Chartered Accountants in England Wales, which is one of the listed bodies. I have completed my examination. I confimi that no matters have come lo my attenlion in connection with Ihe examination giving me cause to believe that in any material fespecl.. accounting records We not kept in respect of Ihe charity as required by seclion 386 of the Companies Act 2006. the financial slatemenls do not accord with those records; or the financial slalements do not comply with the accounting qUIrementS of section 396 of the Companies Act 2006 other than any requirement thal Ihe financial statements give a true and fair view, which is nol a maller considered as part of an independent examination., or the financial slalements have nol been prepared in accordance with thè methods and principl8s of the Slalement of Recommended Practice for accounting and reporting by charities applicable lo charities preparing Iheir financial statements in accordance wilh the Financial Reporting Standard applicable in the UK 8nd Republic of Ireland {FRS 102). I have no concerns and have come across no other mallers in connection wilh Ihe examinalion to which atlenlion should be drawn ort in order to enable a proper understanding of the financial slalements lo be reached. Cinzia Hens The Institute of Chartered Accountants Engaland and Wales BK PILts Limited 6 Manor Park Business Centre Mackenzie Way Chellenham Gloucestershire GL519TX England Dated..
GL3 COMMUNITY HUB LTD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds 2025 2025 Tolal Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Notes Income from,, Donations and legacies Charitable activities Other trading activities Investments 934 5,432 69,g85 6.366 69.985 190,645 2.450 3,014 3,014 71,318 107,648 2,093 71,318 190,645 2,450 107,648 2,093 Total income 194,029 75.417 269,446 112,755 71,318 184,073 Expendlture on: Charitable activities 203,958 75,481 279,439 131,153 71,961 203.114 Total expènditure 203,958 75,481 279,439 131,153 71,961 203,114 Nat expenditure and movement In funds {9.929) (64) (9.993) {18,398) (643) <19,041) Reconclltatlon of funds: Fund balan¢es al 1 April 2024 385,336 5,704 391,040 403,734 6,347 410,081 Fund balancè8 at 31 March 2025 375,407 5.640 381.047 385,336 5,7Q4 391,040 The statement of finanGial activities includes all gains and losses recognised in the year. All income and 8xpendilure derive from continuing adivities.
GL3 COMMUNITY HUB LTD STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025 2025 2024 Notss Fixed assets Investment property io 175,000 175,000 Current assets Debtors Cash al bank and in hand 11 6,161 207,840 4,058 219,354 214,001 223,412 Creditors: amounts falling due withln one year 12 (7,954) (7,372) Net current assets 206.047 216,040 Tolal assets less current liabilitle8 381,047 391.040 Net assets excludlng penslon liabS11ty 381,047 391,040 Tha funds of the charlty Resl¥icled income funds Unreslricled funds 14 5,640 375.407 5,704 385,336 381,047 391,040 The company is entitled to the exemption Irom the audit requirement conlained in seclion 477 of the Companies Act 2006, for Ihe year ended 31 March 2025. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect lo accounling records and the preparation of financial stalemenls. The members have not required the company lo obtain an audil of its financial statemenls for the year in queslion In accordance with section 476. These financial slalements have been prepared in accordance with the provisions applicable lo companies subject to the small companies regirne. The financial statemenls were approved by the twstees on 13 December 2025 MrSR Wsweel Trustee Company registration number 03490904 (England and Wales)
GL3 COMMUNITY HUB LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcies Charity infomiation GL3 Community Hub Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Chellenham Road East, Churchdown. Gloucester, Gloucestershire, GL3 1 HX, England. 1.1 AcGountlng convention The financial slalemenls have been prepared in ardance wilh the charity's [governing documenll, the Companies Act 2006. FRS 102 -The Financial Reporting Standard applicable in the UK and Republic of Ireland" ( FRS 102") and the Charities SORP "Accounting and Reporting by Charities-. Slalemenl 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)" (effecllve 1 January 2019). The charity is a Public Benefit Entily as defined by FRS 102. Thé financial slalements are prepared in slerling, which is the funclional currency of the charity. Monetary amounts In these financial slalem8n15 are rounded lo the nearest £. The financial slalements have been prepared under the historical cost convention. The principal accounling policies adopted are set out below. 1.2 Charitsble funds Unrestricted funds Can be used in accordance with the charitable objectives at the discretion of the Irustees. Reslricled funds can only be used for particular restricted purposes within the objects of the Gharily. Reslriclions arise when specified by the donor or when funds are raised for particular reslricled purposes. Further explanation of the natu and purpose of each fund is included in the notes lo the financial slalemenls. 1.3 Incoine All income is recognised In the Stalemenl of Financial Aclivilies once the ¢harily has entillemenl to the funds, it is probable that the income will be received and the amount ¢an be measured reliably. 1.4 Expenditure Liabilities are recognised as expendilure as soon as there is a legal or constructive obligation commilling Ihe charity lo that expenditure, il is probable that a transfer of economic bènefits will be required in selllement and the amount of the obligation can be measured reliably. Expendilure is accounled for on an accruals basis and has been classified under headings Ihat aggregate all cost related lo the calegory. Where costs cannot be direclly altribuled lo particular headings they have been allocated lo activities on a basis consislenl wilh the use of resources. 1.5 Inveslment property Investment property is shown al most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Slalemenl of Financial Aclivilies. 1.6 Taxation The charity is exempl from corporation tax on ils charitable activities. 1.7 Pension costs and other post-retirement benefits The charitable company operates a defined contribulion pension scheme. Contributions payable lo Ihe charitabla company's pension SGheme are tharged to Ihe Statement of Financial Aclivilies in the period to which they relate.
GL3 COMMUNITY HUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from donations and legacies Unrestricled Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Donations 934 5,432 6,366 3.014 3,014 Income from charitsble activStles Reslricled funds 2025 Reslricled funds 2024 Grants 69.985 71,318 Grants analysis Total 2025 Total 2024 Groundwork UK- VCSE Energy Hedley Foundation Screwfix HDH Wills The Jockey Club Gloucestershire County Council Enovert National Grid National Lollery Fund Tewkesbury Borough Counal Travis Perkins Gloucestershire Community Foundation Rotary Club 59,589 3,000 2,630 2,000 2,000 40,000 10,000 10,000 4,968 4,850 1,000 500 69,985 71,318
GL3 COMMUNITY HUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from other trading activities Unrestricted Unrestricted funds funds 2025 2024 s106 funds Rents received Solar panels Cafe income Storage rental Private functions Room hire Sundry income 73,822 10,006 1,116 31,661 1,684 4,230 68,731 575 13,278 9,687 1,574 19,256 1,302 4,230 60,295 Other trading activities 191,825 107,648 Income from Investments Unrestricted Unreslricled funds funds 2025 2024 Inlerest receivable 2,450 2,093
GL3 COMMUNITY HUB LTD NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charitable actlvities Total 2025 Total 2024 Direct costs Staff costs Insurance Light & heal Telephone Stationery, postage & adverts Subscriptions & training Repairs & cleaning Youth club Travel costs Computer software Catering community grouplevents Bank charges Hire of plant & machinery Cafe stock 78,906 5,031 15,498 802 1,569 108 120,260 10,750 66.678 4,528 13,348 1,264 1,551 1,401 68,735 11,816 1,000 2,014 6,578 829 1,926 9,501 1,665 1,508 966 1,082 13,322 25f,467 191,169 Share of support and govemance Costs (see note 71 Governance 27,972 11,945 279,439 203,114 Analysis by fund Unrestricted funds Reslricled funds 203.958 75.481 131,153 71,961 279,439 203,114 Support costs alloGated to actlvlties 2025 2024 Governance Gosls 27,972 11,945 Analysed between: Accountancy & legal fees 27,972 11,945 Trustees None of the trustees (or any persons connected wilh Ihem) received any remuneration or benefits from the charity during the year. 10-
GL3 COMMUNITY HUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Employees The average monlhly number of employees during the year was.. 2025 Number 2024 Number Employment costs 2025 2024 Wages and salaries Social security costs other pension costs 76.103 1,248 1,555 65,421 1,257 78,906 66,678 There were no employees whose annual remuneration was more Ihan £80,000. 10 Invéstment property 2025 Falr value At 1 April 2024 and 31 March 2025 175,000 11 Debtors 2025 2024 Amounts falllng due wlthln one year: Trade debtors 6,161 4,058 12 Cyeditors: amounts falllng due within one year 2025 2024 Other taxation and social security Trade creditors Other creditors Accruals anej deferred income 1,991 4.251 1,280 3,957 575 1,560 1.712 7,954 7,372 11
GL3 COMMUNITY HUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 13 Companles House charges 2 November 2014 The Council for the Borough of Tewkesbury holds a negative pledge over the Horizons Youth Centre, Chellenham Road East. Gloucester GL3 1 HX. 12 March 2018 - The Council for the Borough of Tewkesbury d)arges the property Horizons Youth Cenlre, Chellenham Road East, Churchdown Gloucester GL3 1HX by way of legal mortgage as a security for the payments for improvements lo Ihe exisling building. 14 Restricled funds The restricted funds of the charity comprise the unexpended balances of donalions and grants hold on trust subject lo specific conditions by donors as lo how they may be used. At 1 April 2024 Incoming resources Resources Al 31 March expended 2025 Youth Provision Man Up Project Toilel refurbishment Energy efficiency upgrade 5,704 5,766 7,432 2.630 59,589 {11,307) <4,585) 163 2,847 2,630 (59,589) 5,704 75,417 175,481) 5,640 Previous year: At 1 April 2023 Inwming resources Resources Al 31 March expended 2024 Youth Provision Man Up Project Roof Repla¢ement Warm Space Community Matlers Fuel Poverty Poverty Hurts 6,264 83 14,968 4,850 40,000 500 10,000 1,000 (15,528) (4,933) (40,000) (500) (10,000) (1,OQO) 5,704 6,347 71,318 {71,961} 5,704 12-
GL3 COMMUNITY HUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Unrestricted funds The unreslricled funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors a510 how Ihey may be used. These include designated funds which have been set aside oul of unre51ricted funds by the Iruslees for specific purposes. At 1 April 2024 Incoming resources Resources expended Gains and Al 31 March losses 2025 Fair Value Reserve Designaled - Roof repairs Designated - Contingency fund Designaled - Heating upgrade Designaled - IT infraslruclure Designated - Operating resetve Design8ted - Regla2ing of Buildlng Designaled- Sports Hall- Repairs and Maintenance General funds 49,707 96,000 65,000 50,000 49,707 (96,000) (35,000) (50,000) 15.000 91,300 30,000 15,000 91,300 18,000 18,000 37,000 19,700 37,000 134,400 124,629 194,029 {203,958} 385,336 194,029 {203,958) 375,407 Prevlous year: Al 1 April 2023 Incoming resources Resources expended Gains and Al 31 March losses 2024 General Fund Fair Value Reserve Designaled - Roof repairs Designaled- Contingency fund Designaled - Heating upgrade 143,027 49,707 96.000 65,000 50,000 112,755 (131,153) 124.629 49,707 96,000 65,000 50,000 403,734 112,755 {131.153) 385,336 16 Analysis of net assets between funds Unreslricled funds 2025 Restricted funds 2025 Total 2025 At 31 March 2025: Investment properties Current assetsl{liabilities) 175.000 200.407 175,000 206,047 5,640 375,407 5,640 381,047 13-
GL3 COMMUNITY HUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Analysis of net assets between funds Icontlnuedl Unreslricled funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Investment properties Current asselsl{liabililies) 175,000 210,336 175.000 216,040 5.704 385,336 5,704 391,040 Fair Value Reserve This represents the revaluation of the properly in each year. Deslgnated Funds Operatlng Reserve - £91,300 An amount equivalent to nine months of core running costs has been designated. including a 10. allowance1£8,300) lo account for potential in¢re8ses In ulility, staffing, and other operational costs duiing the forthcoming year. Sectlon 106 Contlngen¢y- Annex Roof & Heatlng Upgrade- £30,000 Designated as a contingency lo cover polenlial cost overruns and unforeseen expenditure on Secllon 106 funded building works, in particular Ihe planned replacement of Ihe annex roof and 8ssocisled heating improvements. Sport8 Hall- Repairs and Maintenance- £37,000 Designaled to cover planned repairs and Maintenan to the sporis hall, including the upgrade of the floor surface to a polyurethane finish. Reglazing of Building- £18,000 Designated lo fund the reglazing of the building to improve the building's efficiency and overall comfort as patl of ongoing premises improvements. IT Infrastructure Development- £15,000 Designated lo fund improvements to the charity's IT systems and cyber securily, including enhanced digital protection measures and resilience, lo ensure Ihe charity can operate safely and efficiently. Restricted funds National Lottery Youth Provlsion is f(Jnding that is ulilised to facililale the Youth Club, held every Friday during lerm lime exclusively. This encompasses the costs related to malerials, resource5, and the sessions provided by the Springbank Community Group, which allocate youlh workers for each session and manages all safeguarding procedures and policies. GlouGestershire County Council - Man Up is a men's menlal health group which we sel up three years ago. Funding is provided lo contribute towards marketing, such as leaflets and local magazine advertisement, Iraining and room hire. 14-
GL3 COMMUNITY HUB LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Analysis of net assets betreen funds (Continued) TransferJ between funds Transfers are made between restricted 2nd unreslricted funds al the end of every accounting period in cases where:. i) the aclivily of the restricted fund has come to an end and there is an unspent balance that is not rapayable to the funder{s), when the surplus is transferred lo unrestricted funds; or ii) the reslricled fund is in deficil and has either come to an ènd or there is no prospect of a surplus in a later period, when the deficil is eliminated by transfer from unrestricted funds. or ill) Income Ihal is received in the restricled fund covers in part some of Ihe cosls in the unreslriclèd funds. 17 Related party transactions There were no disclosable related party transactions during the year (2024 - none). 15-