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← British Friends Of Mosdos Tchernobel

2025-03-31-accounts

Charity registration number 1070877 (England and Wales)

BRITISH FRIENDS OF MOSDOS TCHERNOBEL ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees A Schechter N B Bindiger N Ollech 2025) Charity registration England and Wales 1070877 Principal address 16 Holmleigh Road London N16 5PY

(Appointed 25 November 2025)

Auditor

Glazers 843 Finchley Road London NW11 8NA

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

CONTENTS

Page
Trustees' report 1 - 2
Statement of trustees' responsibilities 3
Independent auditor's report 4 - 7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 11 - 17

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

TRUSTEES' 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 the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

The charity's objectives are

(a) the advancement of the Orthodox Jewish religion

(b) the advancement of Orthodox Jewish religious education and education generally

(c) the relief of poverty

(d) such other charitable objects as the trustees may from time to time determine.

Public benefit

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

Grant making policy

The charity makes grants in furtherance of its charitable objectives.

In making these grants the trustees use their personal knowledge and experience of the causes and institutions supported. The trustees monitor the application of funds by regular formal and informal correspondence.

Achievements and performance

Significant activities and achievements against objectives

The charity employs its funds and resources to advance the Orthodox Jewish religion, Orthodox Jewish education and the relief of poverty.

During the year the charity made grants totalling £1,064,005 (2024 £853,393) to institutions and £35,000 (2024 £nil) to individuals.

The financial results for the year to 31 March 2025 are as set out in the attached financial statements and notes.

Financial review

Reserves policy

It is the policy of the charity that unrestricted funds are maintained at a level which the trustees deem appropriate after considering future commitments and the likely costs for the next year.

As at 31 March 2025 the charity had a deficit of unrestricted funds of £137,736 (2024 deficit £63,300). The trustees expect this to be rectified in the current year.

The charity's main creditors have confirmed that they will not call in the outstanding balances at a time which would impact the charity's ability to continue as a going concern.

The trustees have identified and reviewed the major risks to which the charity is exposed, in particular operational and financial risks, and are satisfied that appropriate systems are in place to manage and mitigate these risks.

Plans for future periods

The charity plans to continue its current activities in future periods.

Structure, governance and management

The charity is a registered charity (charity number 1070877) and is governed by a trust deed dated 6 April 1998.

The trustees who served during the year and up to the date of signature of the financial statements were: A Schechter N B Bindiger N Ollech (Appointed 25 November 2025)

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Recruitment and appointment of trustees

New trustees are expected to have a good knowledge of the community which the charity serves.

Organisational structure

The trustees administer the day to day affairs of the charity. None of the trustees have any beneficial interest in the charity.

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

..............................

A Schechter

Trustee

Date: .............................................

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2025

The trustees 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).

The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF BRITISH FRIENDS OF MOSDOS TCHERNOBEL

Opinion

We have audited the financial statements of British Friends of Mosdos Tchernobel (the ‘charity’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BRITISH FRIENDS OF MOSDOS TCHERNOBEL

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BRITISH FRIENDS OF MOSDOS TCHERNOBEL

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

1) Enquiries of management concerning the charity's policies and procedures relating to:

2) Discussions among the engagement team regarding how and when fraud might occur in the financial statements and any potential indicators of fraud.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Charities Act and IFRS as issued by the IASB , 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) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charity's ability to operate or avoid a material penalty.

As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud or non-compliance with laws and regulations.

In addition to the above, our procedures to respond to risks identified included the following:

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements 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)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BRITISH FRIENDS OF MOSDOS TCHERNOBEL

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Philippe Herszaft ACA (Senior Statutory Auditor)

For and on behalf of Glazers, Statutory Auditor Chartered Accountants 843 Finchley Road London NW11 8NA Date: .........................

Glazers is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Donations and legacies 3 1,073,529 957,211
Investments 4 84 159
Total income 1,073,613 957,370
Expenditure on:
Raising funds 5 600 20,331
Charitable activities 6 1,147,449 878,820
Total expenditure 1,148,049 899,151
Net income/(expenditure) and movement in funds (74,436) 58,219
Reconciliation of funds:
Fund balances at 1 April 2024 (63,300) (121,519)
Fund balances at 31 March 2025 (137,736) (63,300)

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

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

BALANCE SHEET

AS AT 31 MARCH 2025

2025
2024
Notes
£
£
£
Current assets
Debtors
13
30,645
19,720
Cash at bank and in hand
26,227
47,868
56,872
67,588
Creditors: amounts falling due within
one year
15
(191,992)
(120,216)
Net current liabilities
(135,120)
Creditors: amounts falling due after
more than one year
16
(2,616)
Net liabilities
(137,736)
The funds of the charity
Unrestricted funds
17
(137,736)
(137,736)		 £
(52,628)
(10,672)
(63,300)
(63,300)
(63,300)

The financial statements were approved by the trustees on .........................

..............................

A Schechter Trustee

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Cash absorbed by operations
19
Investing activities
Investment income received
Net cash generated from investing activities
Financing activities
Repayment of bank loans
Net cash used in financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
2024
£
£
£
£
(13,669)
(4,966)
84
159
84
159
(8,056)
(14,909)
(8,056)
(14,909)
(21,641)
(19,716)
47,868
67,584
26,227
47,868

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

The charity is a registered charity in England and Wales and is unincorporated. The principal office is 16 Holmleigh Road, London N16 5PY.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

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. 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. While unrestricted funds are currently in deficit, the charity's main creditors have undertaken not to call in balances due at a time such as would impact the charity's ability to continue as a going concern. 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.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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.

1.6 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.

1.7 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.

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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
2025 2024
£ £
Donations and gifts 1,073,529 957,211
4 Income from investments
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 84 159
5 Expenditure on raising funds
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising and publicity
Other fundraising costs 600 20,331

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

6 Expenditure on charitable activities

Grantmaking Grantmaking
activities activities
2025 2024
£ £
Direct costs
Grant funding of activities (see note 7) 1,099,005 853,393
Share of support and governance costs (see note 8)
Support 38,004 22,427
Governance 10,440 3,000
1,147,449 878,820
Analysis by fund
Unrestricted funds 1,147,449 878,820
7 Grants payable
Grantmaking Grantmaking
activities activities
2025 2024
£ £
Grants to institutions:
Geon Tzvi 491,080 524,255
Mosdos Chasidut Chernebel 211,000 -
Merkaz De Chasedei Tchernobel 83,000 35,650
Yisamach Lev 69,000 238,500
Meirat Einayim 47,073 -
Frankgiving Ltd 35,000 -
Other (under £30,000) 127,852 54,988
1,064,005 853,393
Grants to individuals 35,000 -
1,099,005 853,393

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

8
Support costs allocated to activities
Premises costs
Travel
General administration
Bank charges
Bank interest
Loan interest
Governance costs
Analysed between:
Grantmaking activities
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
10
Trustees		 2025
£
4,944
13,697
5,788
3,289
387
9,899
10,440
48,444
48,444
2025
£
3,000		 2024
£
6,064
1,700
5,340
-
739
6,160
5,424
25,427
25,427
2024
£
3,000

Expenses of £3,795 (2024 £nil) were paid to trustees in the year.

11 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2025 2024
Number Number
Total - -
There were no employees whose annual remuneration was more than £60,000.

12 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Debtors

Debtors
2025 2024
Amounts falling due within one year: £ £
Other debtors 30,645 19,720

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

14 Loans and overdrafts

Loans and overdrafts
Bank loans
Payable within one year
Payable after one year
The bank loans are unsecured.		 2025
£
11,058
8,442
2,616		 2024
£
19,114
8,442
10,672

15 Creditors: amounts falling due within one year

Notes
Bank loans
14
Trade creditors
Other creditors
Accruals and deferred income
Creditors: amounts falling due after more than one year
Notes
Bank loans
14		 2025
£
8,442
-
173,350
10,200
191,992
2025
£
2,616		 2024
£
8,442
4,185
104,589
3,000
120,216
2024
£
10,672

16 Creditors: amounts falling due after more than one year

17 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.

General funds
Previous year:
General funds		 At 1 April
2024
Incoming
resources
Resources
expended
At 31 March
2025
£
£
£
£
(63,300)
1,073,613
(1,148,049)
(137,736
At 1 April
2023
Incoming
resources
Resources
expended
At 31 March
2024
£
£
£
£
(121,519)
957,370
(899,151)
(63,300

BRITISH FRIENDS OF MOSDOS TCHERNOBEL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

18 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

19 Cash absorbed by operations 2025 2024
£ £
(Deficit)/surplus for the year (74,436) 58,219
Adjustments for:
Investment income recognised in statement of financial activities (84) (159)
Movements in working capital:
(Increase) in debtors (10,925) -
Increase/(decrease) in creditors 71,776 (63,026)
Cash absorbed by operations (13,669) (4,966)
20 Analysis of changes in net funds
At 1 April 2024 Cash flowsAt 31 March 2025
£ £ £
Cash at bank and in hand 47,868 (21,641) 26,227
Loans falling due within one year (8,442) - (8,442)
Loans falling due after more than one year (10,672) 8,056 (2,616)
28,754 (13,585) 15,169