DocuSign Envelope ID: B7324561-9137-4200-9FA0-51959016D0E2
# **TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE**
## **FINANCIAL STATEMENTS**
## **FOR**
**31 MARCH 2023**
**Company Registration Number 2971101 Charity Number 1069864**
DocuSign Envelope ID: B7324561-9137-4200-9FA0-51959016D0E2
# **TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2023**
## **Contents**
## **Page**
Members of the board and professional advisers
Trustees’ annual report **2-5**
Independent Examiner’s report **6**
Statement of financial activities **7**
Balance sheet **8**
Notes to the financial statements **9-15**
DocuSign Envelope ID: B7324561-9137-4200-9FA0-51959016D0E2
## **TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE**
## **MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS**
**The board of trustees** Mr. Stephen Lismore (Chair) Mr. Richard Gilbert-Wright (Resigned on 21 February 2023) Ms. Margaret Mason OBE Ms. Julia Mason Mr. Christopher Mitchell **Company secretary** Mr. Richard Gilbert-Wright (Resigned on 21 February 2023) **Registered office** Treasures Neighbourhood Nursery 23 High Street Staveley Chesterfield Derbyshire S43 3UX **Bankers** Unity Trust Bank Plc 19 Brindley place Birmingham B16 1AR **Independent Examiner** Mercer & Hole LLP 72 London Road St. Albans AL1 1NS
**-1-**
DocuSign Envelope ID: B7324561-9137-4200-9FA0-51959016D0E2
## **TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2023**
The trustees, some of whom are also Directors for the purposes of the Companies Act, have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 March 2023.
## **OBJECTIVES AND ACTIVITIES**
The principal objective of the Charity is to provide jobs and training for deprived communities through the provision of services meeting community need. Our services during the year were the provision of childcare through our Treasures Neighbourhood Nursery. Coupled with this service we also offered jobs and training to local people wishing to pursue a career in childcare.
## **SUMMARY OF THE MAIN ACTIVITIES UNDERTAKEN FOR THE PUBLIC BENEFIT IN RELATION TO THESE OBJECTS**
We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and planning future activities. In particular the trustees consider how planned activities will contribute to the aims and objectives they have set.
## **ACHIEVEMENTS AND PERFORMANCE**
## **Governance and Management**
In February 2023 Richard Gilbert-Wright resigned as a trustee and we would like to take this opportunity to thank him for his years of service to the charity.
Following last year changes surrounding the trustees, the charity under Margaret Mason OBE has now been able to concentrate upon its key aims and stakeholders whilst all the time improving the effectiveness of the nursery.
## **Performance of Charity**
After the refurbishment of the nursery and the rationalisation of the practises we have been able to build upon the performance and quality of delivery. The setting is now well resourced with a stable motivated workforce.
Last year saw the strengthening of the charities Balance Sheet and whilst income dipped in the year this has steadily improved in both the numbers of children and the charities income in more recent periods.
**-2 -**
DocuSign Envelope ID: B7324561-9137-4200-9FA0-51959016D0E2
# **TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2023**
## **FINANCIAL RISKS**
The principle risk to the business is the property lease which completes in May 24, the landlord has submitted a proposal for a new lease to the charity and negotiations are ongoing.
## **PLANS FOR THE FUTURE**
We believe passionately that the first five years are crucial in the healthy development of children and our ethos in this regard is to involve our parents and carers encouraging strong relationships with them.
This year we will be seeking partners to work together to achieve our vision and giving Staveley children, especially those most in need the best start in life by providing affordable early years education.
We would like to take this opportunity to thank the trustees for their continued support and dedication, we look forward to providing exemplary childcare prioritized for struggling families adapting as required.
We would also like to thank Children 1st Nurseries for their support throughout the year, by taking over much of the administrative burden this has allowed the charity to focus solely upon the delivery of the childcare which has been appreciated by staff, parents and children alike.
**-3 -**
DocuSign Envelope ID: B7324561-9137-4200-9FA0-51959016D0E2
# **TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE**
**TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2023**
## **FUNDS HELD ON BEHALF OF OTHERS.**
We are not holding any funds on behalf of others.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
Touchstone Community Development is based 23 High Street, Staveley, Chesterfield, Derbyshire, S43 3UX which is the company's registered office and the principal address of the charity. Touchstone Community Development is a company limited by guarantee and not having a share capital (company registration No. 2971101) and Registered Charity (No. 1069864). The date of incorporation was 26th September 1994.
The Trustees of the Charity are also Directors for company law purposes and met on a regular basis throughout the financial year.
## **Trustee selection methods**
An assessment has been made to discover those skills required by the trusts body. Efforts are made to recruit trustee who meet the skill requirement from the resident population.
## **Risk management policy**
As with all operators in the sector the charity continues to lobby central government for sector support and improvements in the levels of funding provided. This is being done both through the National Day Nursery Association as well as through the trustees other interests.
It is felt that the charity is now in a position to meet its current liabilities and move forward, the next financial risk being the renewal of the lease in May 2024.
## **Independent examiner**
Mercer & Hole will continue in office as independent examiner for the ensuing year.
**-4 -**
DocuSign Envelope ID: B7324561-9137-4200-9FA0-51959016D0E2
# **TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE**
**TRUSTEES’ ANNUAL REPORT**
**YEAR ENDED 31 MARCH 2023**
## **Small company provisions**
This report has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.
Registered office: 23 High Street Staveley Chesterfield Derbyshire S43 3UX
Signed on behalf of the trustees
M. Mason Trustee
Approved by the trustees on 27/3/2024
**-5 -**
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## **TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES**
## **YEAR ENDED 31 MARCH 2023**
## **Independent Examiner's Report to the Trustees of Touchstone Community Development**
I report on the accounts of the company for the year ended 31 March 2023 which are set out on pages 7 to 15.
## **Respective responsibilities of trustees and examiner**
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- state whether particular matters have come to my attention.
## **Basis of independent examiner's statement**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention:
- 1 Which gives me reasonable cause to believe that, in any material respect, the requirements :
- to keep accounting records in accordance with section 386 of the Companies Act 2006; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
- 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Paul Maberly Mercer & Hole LLP 72 London Road St. Albans Hertfordshire AL1 1NS
27/3/2024
**-6 -**
DocuSign Envelope ID: B7324561-9137-4200-9FA0-51959016D0E2
## **TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 MARCH 2023**
||||||**Total Funds**|Total Funds|
|---|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**||**Year to 31 Mar**|Year to 31|
|||**Funds £**|**Funds £**||**2023**£|Mar 2022 £|
||**Note**||||||
|**Income**|||||||
|Grants and Donations|**3**|
**50,167**||**-**|**50,167**|142,679|
|Investment income|**5**|
**-**||**-**|**-**|-|
|Charitable activities|**4**|
**332,323**||**-**|**332,323**|305,222|
|**Total incoming resources**||**382,490**||**-**|**382,490**|447,901|
|**Expenditure on**|||||||
|Raising Funds||**-**||**-**|**-**|-|
|Charitable activities||**334,644**||**-**|**334,644**|**391,591**|
|**Total resources expended**|**6**|
**334,644**||**-**|**334,644**|**391,591**|
|**Net incoming/(outgoing)**|||||||
|**resources before transfers**||**47,846**||**-**|**47,846**|**56,310**|
|Transfer between funds||**-**||**-**|||
|**Net movement in funds**||**47,846**||**-**|**47,846**|**56,310**|
|Funds brought forward||**128,891**||**-**|**128,891**|**72,581**|
|**Funds carried forward**||**176,737**||**-**|**176,737**|**128,891**|
The charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing.
**The notes on pages 9 to 15 form part of these financial statements.**
**-7 -**
DocuSign Envelope ID: B7324561-9137-4200-9FA0-51959016D0E2
## **TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2023**
|**Note**
**Fixed assets**
Tangible assets
**10**
**Current assets**
Debtors
Cash at bank and in hand
**11**
**Creditors: amounts falling due**
**within one year**
**12**
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**Funds**
Restricted
Unrestricted–general reserves
**13**
**13**
**TOTAL FUNDS**|**2023 £**
**8,633**
**53,398**|**£**
**129,352**
**47,385**|**2022**
**£**
1,710
21,619|**£**
121,592
7,299|
|---|---|---|---|---|
||**62,031**
**(14,646)**||23,329
(16,030)||
||||||
|||**176,737**||128,891|
|||**176,737**||128,891|
|||**-**
**176,737**||-
128,891|
|||**176,737**||128,891|
For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- (i) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
- (ii) 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 special provisions for small companies under Part 15 of the Companies Act 2006.
These financial statements were approved and authorised for issue by the members of the trustees and are signed on their behalf by:
M. Mason Date 27/3/2024 Trustee Company Registration Number: 2971101
**The notes on pages 9 to 15 form part of these financial statements.**
**-8 -**
DocuSign Envelope ID: B7324561-9137-4200-9FA0-51959016D0E2
# **TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS**
**YEAR ENDED 31 MARCH 2023**
## **1. Accounting policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **Company information**
Touchstone Community Development is a company limited by guarantee not having a share capital. The company’s registered office is, 23 High Street, Staveley, Chesterfield, Derbyshire, S45 3UX, the Memorandum and Articles of Association, had undertaken to contribute the sum not exceeding £1 in the event of a winding up of the company.
## **1.1 Accounting convention**
These accounts have been prepared in accordance with FRS 102, “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it apples from 1 January 2015. The charity is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in Sterling which is the functional currency of the company Monetary amounts in these financial statements to the nearest £.
The accounts have been prepared on historical cost convention apart from freehold property that is carried at market value. The principal accounting policies adopted are set out below.
These are accounts for the year ended 31 March 2023 prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
## **1.2 Going concern**
At the time of approving the accounts, the Directors 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 accounts.
## **1.3 Charitable Funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
**-9 -**
DocuSign Envelope ID: B7324561-9137-4200-9FA0-51959016D0E2
## **TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2023**
## **1.4 Incoming resources**
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Gifts in kind have been included at market value of gifts received and in assets acquired. No amounts are included in the financial statements for services donated by volunteers.
## **1.5 Resources expended**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in the support of the charitable activities.
## **1.6 Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.7 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.
## **1.8 Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **1.9 Financial instruments**
The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the company’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 company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.11 Taxation**
The charity is exempt from tax on income and gains falling with 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.
**- 10 -**
DocuSign Envelope ID: B7324561-9137-4200-9FA0-51959016D0E2
## **TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2023**
## **1.12 Depreciation**
Individual fixed assets are capitalised at cost and are depreciated over their estimated useful economic as follows:-
|
ollows:-||
|---|---|
|**Asset category**|**Annual rate**|
|Leasehold Property (Straight Line Basis)|5%|
|Office Equipment (Straight Line Basis)|25%|
|Computer Equipment (Reducing Balance)|20%|
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the directors 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 estimated and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
## **3 Grants and Donations**
|**Grants and Donations**|||||
|---|---|---|---|---|
||||**Total Funds**|Total Funds|
||**Unrestricted**|**Restricted**|**Year to 31**|Year to 31|
||**Funds**|**Funds**|**Mar 2023**|Mar 2022|
||**£**|**£**|**£**|£|
|Job Retention Scheme|-|-|-|75,246|
|Donation|**50,167**|**-**|**50,167**|67,433|
||**50,167**|**-**|**50,167**|142,679|
## **4 Incoming resources from the charitable activities**
|**Unrestricted**
**Funds**
**£**
**326,052**
**6,271**
Nursery Fees and Funding
Other
**332,323**|**Total Funds**
**Year to 31**
**Mar 2023**
**Restricted**
**Funds**
**£**
**£**
**326,052**
**6,271**
**-**
**-**
**-**
**332,323**|Total Funds
Year to 31
Mar 2022
£
300,164
5,058
305,222|
|---|---|---|
**-11 -**
DocuSign Envelope ID: B7324561-9137-4200-9FA0-51959016D0E2
## **TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2023**
## **5. Interest receivable**
|**YEAR ENDED 31 MARCH 2023**
**terest receivable**|||
|---|---|---|
|**Year to 31**
**Mar 2023**
**£**
Bank interest receivable (unrestricted)
**-**
**tal resources expended**
Training costs
Rent, rates, premise & insurances
Repairs, renewals and cleaning
Food, materials, equipment and protective clothing
Telephone, stationery & project admin
Publicity and promotions
Legal and professional fees
Subscriptions
Sundry expenses
Bank charges
Bad debt expense
Bad debt provision
Equipment hire
Wages and associated costs
Depreciation
|Year to 31
Mar 2022
£
**-**
**£**
**467**
**12,258**
**9,701**
**15,678**
**7,823**
**414**
**2,028**
**942**
**-**
**425**
**724**
**-**
**2,928**
**245,324**
**35,932**
£
361
16,486
11,414
16,850
8,654
3,612
18,840
918
1,986
1,180
6,528
-
3,990
279,599
21,173
**TotalFunds**
**Yearto 31**
**Mar2023**
TotalFunds
Year to 31
Mar 2022||
||**334,644**|391,591|
## **6. Total resources expended**
Expenditure on charitable activities was £334,644 (2022: £391,591) of which £nil was restricted (2022: £nil)
## **7. Net (expenditure)/income**
Net (expenditure)/income for the year is stated after charging/(crediting):
||**2023**|2022|
|---|---|---|
||**£**|£|
|Independent Examiner’s Fees|**1,500**|1,500|
|Depreciation|**35,932**|21,173|
**- 12 -**
DocuSign Envelope ID: B7324561-9137-4200-9FA0-51959016D0E2
## **TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2023**
## **8. Directors and key management personnel**
During the year Trustees did not receive remuneration. The key management personnel of the charity consist of the Trustees, professional advisors and the Chief Executive Officer.
## 9. **Employees**
The average number of staff employed by the charity during the financial year amounted to:
|Direct Charitable Staff
Governance|**Year to**
**31 Mar**
**2023 No**
**18**
**-**
**18**|Year to
31 Mar
2022
No
29
-
29|
|---|---|---|
|**The aggregate payroll costs were:**|||
|---|---|---|
||**Year to 31**|Year to 31|
||**Mar 2023**|Mar 2022 £|
||**£**||
|Wages and salaries|**237,815**|268,751|
|Social security costs|**3,617**|6,988|
|Pension costs|**3,892**|3,860|
||**245,324**|279,599|
No employee earned more than £60,000 per annum. No trustees were reimbursed for expenditure.
**- 13 -**
DocuSign Envelope ID: B7324561-9137-4200-9FA0-51959016D0E2
## **TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2023**
## **10. Tangible fixed assets**
|**Cost 1. April 2022**
Additions
**At 31 March 2023**
**Depreciation**
**At 1 April 2022**
charge for the year
**At 31 Match 2023**
**Net value at 31 March 2023**
Net value at 31 March 2022|Total
£
507,368
43,691
Long-Term
Leasehold
Property £
Office
Equipment
£
Computer
Equipment
£
450,141
25,399
52,758
18,292
4,469
-|
|---|---|
||**475,540**
**71,050**
**4,469**
**551,058**|
||359,036
23,777
23,075
11,994
3,664
161
385,775
35,932|
||**382,813**
**35,069**
**3,825**
**421,707**|
|||
||**92,727**
**35,981**
**644**
**129,352**|
||91,105
29,683
804
121,592|
## **11. Debtors**
|Trade Debtors
Prepayments
**Amounts falling due within one year**
Trade Creditors
Accruals
Other Creditors||**2023**
**£**
**3,247**
**5,386**|2022
£
(1,094)
2,804
1,710
2022
£
13,507
2,523
**-**|2022
£
(1,094)
2,804
1,710
2022
£
13,507
2,523
**-**|
|---|---|---|---|---|
|||**8,633**|||
|||**2023**
**£**
**5,169**
**261**
**9,216**
**14,646**|||
|||||16,030|
## **12. Amounts falling due within one year**
**-14 -**
DocuSign Envelope ID: B7324561-9137-4200-9FA0-51959016D0E2
## **TOUCHSTONE COMMUNITY DEVELOPMENT COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2023**
## **13. Statement of funds**
|**Statement of funds**||
|---|---|
|**General reserve**
**Total unrestricted funds**
**Restricted Funds**
**Total restricted funds**
**Total funds**|**At**
**31March**
**2023**
**Incoming**
**£**
**382,490**
**Outgoing**
**£**
**(334,644)**
**Transfers**
**£**
**-**
**At 1**
**April**
**2022 £**
**£**
**176,737**
**128,891**|
||**128,891**
**382,490**
**(334,644)**
**-**
**176,737**
**-**
**-**
**-**|
||**-**
**-**
**-**
**-**
**-**|
||**128,891**
**382,490**
**(334,644)**
**-**
**176,737**|
## **14. Analysis of net assets**
|**Analysis of net assets**||||
|---|---|---|---|
||**Tangible**|**Other net**||
||**fixed assets**|**assets**|**Total**|
|**Unrestricted funds**||||
||**£**|**£**|**£**|
|General reserve|**129,352**|**47,385**|**176,737**|
|**Restricted funds**|**-**|**-**|**-**|
||**129,352**|**47,385**|**176,737**|
## **15. Related party transactions**
During the year the charity received a donation of £49,819 from Children 1st , a director of whom is also a trustee of the charity.
**- 15 -**