THE MEA TRUST (A charitable company limited by guarantee) REPORT AND UNAUDITED FINANCIAL STATEMENTS 31 MARCH 2025 Registered companv number OJ72157i Registered charit), number 1074895 Armstrong Watson Chartered Accountants Newcastle upon T)'ne
THE MEA TRUST REPORT AND FINANCIAL STATEMENTS 31 MARCH 2025 CONTENTS Page Ito4 Rewjrt of the trustees Indendent examiner's reFK)rt Statement of financial activities {Including income and expenditure account) Balance sheet 8t014 Notes to the financial statements
THE MEA TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 REFERENCE AND ADMINISTRATIVE DETAILS Charity number: 1074895 Company number: Oi72157i Trustees Mr W McKay Mr S T Gilroy Mr J Lane Mr M I Spriggs, Chair Cllr T Cairns Mr S D Bowett Secretary Mis5 K Sweeney Registered office Independent examiner One Strawberry Lane Strawberry Lane Newcastl¢ upon Tyne NEI 4BX MrDRGold Amistrong Watson LLP One Strawberry Lan¢ Newcastle UFK)n Tyne NEI 4BX Managing agent Naylors Gavin Black LLP One Strawkrry Lan¢ Newcastle upon Tyne NEI 4BX
THE MEA TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees are pleased to present their report together with the unaudited financial statements of the charity for the year ended J l March 20?5 which are also prepared to meet the requirements for a directors" rewrt and financial statements for Companies Act PUT$es. The financial statements comply wilh ihe Charilies Act 2011, the Companies Aci 2006, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing the accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Structure* governance and management The MEA Trust is a company limited by guarantee and is governed by its Memorandum and Articles of Association (r¢vis¢d 28 kptember 2000, li June 2011, 2 May 2012 and 18 Septemkr 2018). It is a Charity registered with ihe Charity Commission. The full Trust Board meets at least twice in any one year and there is a subcommittee for Finance and Risk Management. The Annual General Meeting usually takes place in December. The Trust currently has 6 trustees (The Memordndum states the Board will consist of at least 5 and not more than 15 individuals). New trustees are appoint¢d by th¢ Trust Board with careful consideration to mainlaining a wide range of relevant professional expertise on the Board to cover financial. legal and property matters. The trustees may at any time CLpt any person dul), qualified to be appointed as a trustee to fill a vacancy or as an additional trustee: but a co-opted trustee holds office onl), until the next AGM. The chairman is elected and his or her period of office is deterniined by the trustees. The induction and training of trustees is dealt with according to indiTridual need and is co-ordinated by the chairtnan. Usually, trustees have prior professionavcharity knowledge and experience. Naylors Gavin Black LLP had responsibility for the overall management of MEA House and all relevant regulatorv compliance. They also have responsibility lor corporate and company secretarial support and compliance. Risk management The trustees have examined the major strategic. business and operational risks which the charity faces and confirm that system5 have been established to enable regular reports to be produced so that the necessary steps can be taken to both lessen these risks and take advantage of ke}, opportunities. Key documents were reviewed at least annually.- e.g. the full risk assessment report; tenant payment schedule and Trust inve5ttnents and reserves; the health and safety policy Statement and flre risk assessment (including the fire evacuation strdiegy). Objectives and activities The Trust has general charitable objectives with the wjwer to let property to other charities at a rent less than the commercial rents in the market place. MEA House was built to achieve the aim of providing charities with good quality accommodation in one centre with rents below the market level. The building provided approximately 27,000 square feet of office space which 'aS let to a wide range of charities of varying siz¢ which supported local people of all ages.
THE MEA TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees confinn that they have been given the general guidance produced by the Charity Commission on public benefit and are confident that this was achieved through the letting to charities and the hire of the meeting rooms to the voluntary sector. Achievements and perforniance Following the reluctant decision to sell MEA House as previously reported, the sale was completed on 31 July 2024, the building having been vacated by all tenants. On 26 November 2024. after taking legal advice and undertaking an exercise to evaluale a number of options. the trustees resolved to dissolve the Trust and to transfer the remaining assets after provision has been made for all liabilities by Th'ay of Deed of Gift dated J l March 2025 to The Rothley Trust, an unincorporated charity.. registered number 219849. Steps are now being taken to c105e The MEA Trust charity. Financial review Until the sale of MEA House, the principal funding sources comprised rents and service charges. This rentsl income and th¢ related MEA House running and refurbishmenl costs are shown in the statement of financial activities. Following the sale ol the building, the trustees resolved to dissolve the Trust and transfer the remaining assets to The Rothley Trust. Th¢ gift is shown as a donation in the statement of financial activities on page 6. Reserves policy The trustees had established a policy to maintain unrestricted funds not invested in fixed assets or designated for specific purposes (the free reserves) at an appropriate level to cover any gap that may arise between rental income and expenditure. Going concern The financial statements have been prepared on a basis other than that of the going concern basis following the sale of MEA House and the decision taken by the trustees to dissolve the Trust and transfer the remaining assets to The Rothl¢y Trust. Investment powersg policy and performance Under the Memorandum and Articles of Association, the charity has unrestricted Wer to invest funds in any manner after obtaining advice from a financial expert and having regard to the suitability of investments and the need lor diversification. The listed investments were sold in the year and held as cash pending the decision to dissolve the Trust and transfer th¢ remaining assets.
THE MEA TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Statement of trustees, responsibilities in relation to the financial statements The trustees {who are also directors of The MEA Trust for the purposes of company law) are responsible for preparing the report of the trustees and the financial staiements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom GeneIlY Accepted Accounling Practice). Company law requires the trustees to prepare flnancial statements for each flnancial j'ear 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 charitable companv for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and ihen apply them consislently; observe the mdhods and principles in the Charlties SORP; make judgements and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have ken followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on ihe going concern basis unless il 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 an), time the financial position of the charitable compan>, and enable them to ensure that the financial statements comply with the Companies Act 2006. The). are also resp)nsible for safeguarding the assets of the charitable company and hence lor taking reasonable steps for the prevention and detection of fraud and other irregularities. Small company provisions This report has been prepared in accordance with the special provisions for small companies, under Part 15 of the Companies Aci 2006. On behalf of the trustees MIS ri M I Spriggs (De 4, 202 OGMTI Mr M I Spriggs Chairn]an 14 Nov¢mkr 2025
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MEA TRUST I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2025, which are set out on pages 6 to 14. Responsibilities and basis of report As the charity's trustees of the company (and also its directors for the pun)oses of company law) you a responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the Act 2006,). Having satisfied myself that the accounts of the company are not required to k audited under Part 16 of the 2006 Act and ar¢ eligible for indepKndenl examination. I report in respecl of my examinalion of your charity's accounts as carried out under section 145 of the Charities Act 2011 (the "201 l Act,). In carrying out my examination I have followed the Directions given bv the Charity Commission under section 145{5)(b) of the 2011 Act. Independent examiner's report Since the company's gross income exceeded £250.(M)O your examiner must be a MeMr of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales: which is one of the listed bodies. I have Complet my. examination. I confirni ihal no Matte have come to my attention in connection with the examination giving me cause to believe: i) accounting records were not kept in respect of the company as required by section i86 of the 2006 Act; or the accounts do not accord with those accounting records. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirenient that the accounts give a "true and fair, view which is not a matter considered as part of an indendent examination: or the accounts have not been prepared in accordanc¢ with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities. 2) 3) I have no concerns and have come across no other matters in connection ivith the examination to which attention should be drawn in this rewrt in order lo enable a prOr und¢tanding of ihe accounts to be reached. This report is made solely to the Charity s Trustees, as a body. in accordance M'ith Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I m]t state to the Charity's Trustees those matters l am required to state to them in an Independent examiner's rep)rt and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity'5 Trustees as a body, for my work or for this report. D R Gold (Dec4, 11.59.08 G.XITI D RGOLD FCA Independent Examiner Arn)strong Watson LLP Chartered Accountants Newcastle upon Tj'ne 04/1212025
THE ]41EA TRUST STATEMENT OF FIIYAIYCIAL ACTIVITIES ItNCLUDtNG INCOME .QND EXPENDITURE. ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 Note I"Dresiri¢ted Resiricted EDdowmeDt Totsl 2025 Total 2024 Funds Futtds Futtd Income from: Donations.. Grdrtts Chariiable aciii'ities.. leenls and service charges receEvable InTrcstmcnts Gain on disposal of fixcd asscts 5,000 11.734 10.878 32i.883 11.734 10.878 325,883 345,203 6.841 Total income 348.495 348.495 357,044 Expenditure on: Raising fiinds Chariiable acii*ilies Donation 505 13.025 77i.796 505 113.025 775.796 2,589 648,685 Total expenditure 889.326 889.326 651,274 Net gain5 1 {losse5) on inTr'estments: Gains I Ilosscs) on rcvaluation of invesiments Realised I10sses} I gains on disposal of inveslmen 17.187 7,110 24.297 l(kAI (6641 (6641 16641 Net expenditure 1541.4951 (541,495) (269,9331 Transfers between fund5 377.9)2 {181.710) 1196.2421 Net expenditure and net moveMent in funds (163.543) {181.710) (196.2421 1541,495) {269,9331 Reconciliation of funds Total tunds brought fOard 163.i43 181.710 196.242 541.495 811.428 Total fllnds earried forward 541,495 Thc statctnent ot tinancial activitics includc5 all gains and losscs rQgnIsed in the }"ear. Thc notL-s on pagLS 8 to 14 fomi part of thcsc financial statcmLlIts.
THE IIIEA TRUST BALANCE SHEET Company numttr." 037?1 j73 AS AT 31 MARCH 2025 Note 2025 2024 Fixed assets -] angible asseis Investments 451.485 195.443 646.928 Current assets l)ebiors Cash at bank 3.513 785.980 789.493 34.813 i3.277 88.090 Creditor$: amounts falling due within one 1.ear {789.4931 (188.969) Net current liabilities (100.8791 Creditors: amounis falling due after more Ihan one lear 10 (4,554) Net assets 541.495 The fund5 of the charity Endowmcnt fund lJnrestricted income funds Reslricled income funds 196,242 163.i43 181,710 12 Total eharity funds 541.495 For thc s'car ended 31 March 2025 thc charit* cntitled to clcmption from audit under section 477 of the C.otnpanics Act 2006 rclating to small companics. rusiees iesponsibililies.. (i) The tn¢mber5 haTr"¢ not requircd ihc charit%- to obthin an audit of its financial statcments for the ear in qucstion in accordancL W'lth SLCtion 476.. and (li) The trustees acknoii'ledge their responsibilities for compll'ing ii'ith the requirements of the Act ivith respect lo accounting records and Ihe preparation ofthe financial sthtemenis. Thcsc financial statcmLnts havL bccn prLparcd in accordancc ii-ith thc proi'isions applicablc to companics subjcct to the small companies regime. Thc financial Statements wcre approved and 5igncd b). thc trustces and authori5ed for IU¢ on 14 November 2025. MIS ri ',) GFIT) Mr M I Spriggs c.hairman The notes on pages 8 10 14 fonn part of these financial staiements
THE ]41EA TRUST NOTES TO THE FIIYAIYCIAL STA TEMENTS FOR THE I'EAR ENDED 31 MARCH 2025 l. Legal status of the charity. The charit) is a compan!, limited b!, guarantee. has no share capital and is regisiered in England and Wales. The addres5 ofihe regisiered 01¢¢ is MF.A I louse. F.Ilison Place. Neii"casile uw)n -1 i"ne. NF.18XS. -I"he liabilil!. oc each tnembcr in thc cvent of winding up is litnitcd to £1. 2. Aceollnting policies -I'he principal accounting policies adopied. judgements and ke! sources of esiimaiion un¢erlainl!' in ihe preparation ot the financial statctnents arc a5 follows.. a) Basis of preparation -I'he financial siatemenls ha.¢ been prepared under the hisiorical ¢osi ¢onvenlion with iiems re¢ognised at C05t or transaction Traluc unless othcrw.isc statcd. Thcv hai'c bccn prepared in accordance 1th Accounting and RLPOrting b!, CharitlLS'. SiatcmLnt of RiCOtninLndLd PractiCL applicablL to charitics prcparing thuir accounts in accordance w'ith the Financial Reporting Standard applicable in Ihe ljk and Republic of Ireland IFRS 1021- (Charities SORP (F RS 1021}. the Financial Repolling Sthndard applicable in the IIK and the Republi¢ of Ireland IFRS 102} and the Companies Act 2006. The MEA Trust mccts the definition of a public b¢n¢fit cntiti. undcr FRS 102. The tinancial statements arc prcparcd in 5tcrling which is th¢ fvnctional and prcscnlation curren, of the Charl.. b) Going concern basi5 As cxplaincd in thc trustLCS' fLPOrt. folloii-ing thc salc of ME.4 Housc and thc dccision takcn bi" thc tnlstccs to dissolN'e ihe Tn]st and transfer the remainine assets after provision has been made for all liabiliiies to The RoihleN' -] riisi by M'a). of l)eed of Gift. the financial staiements ha"e been prepared on a basis other than that of the going concem basis. c) Fund Structure i) Endowment Fund -I'his represenled ihe capital expended in funding the original ¢osi of MF.A I louse. -lthe fund was reduced annuall> bs, a transter equiTr"alent to the dcprcciation of the original cost ot MIA House. ii) Designated funds -I'he follom.ing designated fund was unrestri¢ied fund5 earnwked b! ihe thisiees for specific purposes: Repair and Refurbishment Fund The purpose of this fund ivas to meet major repair eipendiiure oui of a fund accumulaied b). annual transfers from rents received at the dire[lOn of Ihe tru5tees_ Folloii"ing ihe sale ofthe building, Ihe remaining balanLe 'as transtcrrcd to the General Fund.
THE ]41EA TRUST NOTES TO THE FIIYAIYCIAL STA TEMENTS FOR THE I'EAR ENDED 31 MARCH 2025 2. Aceollnting policies (continued) e) Fund Structure (cotinued9 iii) Restricted funds CJrants and donaiions obtained for specific purposes are recognised in the financial statements as restricted funds. iogether with altribuvdble inlesimeni inci)me. Refurbishment Fund The Refurbishment Fund met expenditure relatine to a major refurbishment of the building. The fund H.'as reduced annually bv ihe depreciation of ihe refurbishmeni cosi ofMF.A I louse. d) Fixed assets and depreciation Tangible fixed assets ii'ere included in the financial siatemenis at their hisiorical cost. The building aS held for use for ihe suppli. ol- accommodation io oiher ¢harilies ai less than market rent_ -l-he Iruslees therecore did nol consider MEA House to bc an inicstmcnt property" requiring inclusion in thc financial slatcments at fair valuc. l)epreciation was proi'ided on all langible fixed asseis ai calculaied io H"riie olTihe cost less esiimatrd residual value ot the assets over their cxpcctcd use1 liN"cs. The ratcs used wcrc as follows.. Building.. ori2inal cost siraighi linc oTr"cr 75 I'cars Building.. refurbishment siraieht line oi'er ?5 l'ears Furniture and equipmeni 2/0 per annum reducing balance e) Investments InTr'estments were a forni of financial instn]ment and initiall!. recoenised at cost and subsequentlN' measured at their fair N'alue ¢)5 at the balance 5h¢et date using the ¢li)sing quoied markei priie. Gains or losses arising on rci'aluation or disposal were rccogniscd in ihc 51atcment of financial actiNitics in the funds in il'hich thc invcstmcnts ii'crL hcld. fj Cash at bank Cash at bank included instant access COIF Charities Dcposit fund accoun g) Creditors and provisions Credilors and prolSionS are recognised w.here Ihe ¢harii!" has a present obligation resuliing from a pasl el'eni ihat will probabl)" rcsult in the Iransfcr of funds to a third pam" and the aTnount duc to scttlc the obligation can bc mcasurcd or cstimatLd rLliabl!'. CrL-ditors and proi'isions arc nonnall!- rucogniscd at their settlement amount. h) Financial in5trumentS Thc charits. onli. had financial instrumcnts and financial liabilitics of a kind that qualificd as basic financial instn]ments. Basic financial insiruments ii'ere initiall! measured ai Iransaciion i'alue and subsequentlN' measured at their settlement value. M'ith ihe exieption ofthe mortgage loan iihi¢h ivas measured at amorti5ed cosi using ihe effcctii'e interest mcthod.
THE ]41EA TRUST NOTES TO THE FIIYAIYCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2. Accounting policies (conlinued) i) Income recognition All income is included in the statement of financial aciiviiies ii'hen the charin. has eniiilement to the income. ii is probable ihai the income will be received and the amouni of income receis.able can be measured reliabl}'. Thc tolloM"'ing spccilic policies arc applied to particular catcgories of incoJne'. Donations arL fLCCiI'cd bN' M'a!, of grants and donations and arL incllidcd in full in ihc statcmcnt of financial activities hen receiNable. Such income is onli. deferred i%'hen the donor specifies that the grani or donaiion must onl) be used in future accouniing periods. or the donor has imposed conditions Mhi¢h musl bc mct betore th¢ charit). has unconditional Cntitlcmenl. InN'Lstmcnt incotnc such as dii'idcnds and intLrcst arL includLd iil)cn rccciNablc. Income from charitable actii'ities includes income from renis and sen'ice charges ii.'hich are recognised on a siraighi-line basis oN'er the lem ofihe lease. j) Expenditure refognitiOD Expenditure is included in the statement of financial aetivities on an accruals basis, inclusie of ans, VAT .hich can not be recoi'ered. Cosls ot cxpcnditur¢ on raising tunds cotnprise the c051s incurrcd in raising incoinc from grants and donations. C.haritablL LXPLnditurc cotnprisLS all costs of actii"itiiS in furthcrdllcL of thL objccts of thL charity.. CJovernan£e costs represents costs incurred in conneciion ii'ith administrdtion of the charits. and compliance 'ith consiitulional and sta¢utorn" r¢quirements_ Support costs are allocated on thc basis of staff time spent on cach activiti" and are showi in notc ) lo the a¢counis. k} Pensions Emplol'ees of the charit). 'ere eniitled to join a defined coniribution mone!. purchase scheme. The charitv contribution in thc vcar is discloscd in notc 5. Thc InonL!' purchasc plan is managcd b)" B&CE Holdings (The Pcople'5 Pension). The charity." has no liabilits. boond making its contributions and paling acros5 the deductions for emplovees, conlribulions. 3. Net expenditure 2025 2024 Nct expcnditurc for thc i'car is statcd aftir charging= Independent examination and accounianc!. seTh'ices'. Independent examination ALcountancw s¢Tr'iccs Dcprcciation of tangiblc fixLd as15 1.130 7.210 183 ,130 11.806 180.284 4. Donation Unrestrieted Re$tri¢ted 2025 2024 Thc Rothlcy Trust 775.796 775,796 On 31 March 2025. the chariti. transferred all ofits remaining asse io-11)e Roihlth"-l-rus1 (an unincorporaled charity) b). Ivaw ot Deed of Gift. 10-
THE14IEA TRUST NOTES TO THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2025 5. Total expenditure RiDE nds Chari14b GoTrtrnanc¢ Total 2025 Total 2024 ctiitiES Costs Direct costs Donation (rtoie 4) Staff costs ProperN' running and refurbishment costs l)epreiialion and loss on disposal Loan int¢rc5t Lcgal and profcssional fccs Independent examination and accountanc!, Ini'estment managemeni cos Truslecs, inde[tlty insurancc 775.796 11.419 85.185 2.741 406 2.048 2.050 775.796 11,419 85.185 2,741 406 4.048 8,340 505 886 889,326 74,673 351.402 180.284 852 26.945 12,936 2.589 .593 651.274 2.000 6.290 505 886 9.176 ioi 879,64) Governance costs 9.176 Total expenditure on charitable activities 888.821 2024 Staff costs and numbers: Wages and salarics RcdundancTr' and cx gratia Social securiry, cosis Pension costs 10.594 51.126 19,188 3,597 762 74.673 622 203 11.419 The charity. considers its ke). management personnel comprise the trusiees. The iotal emplo1.ment benefits ofihe key management personnel 'ere £Nil (20)4.. £Nill. "lthere are no emplolees Hiih emc)luments &Ix)e £60,000 per annutn. No trustces or anN' pcrson related or connect¢d bv business io them. rccciNed ani. r¢mun¢ration from thc charity. during thc vcar. The aggrcgatc atnount of expcnscs rcitnburscd to thc trusices during the l.ear Ia5 £Nil (2024= £Nil). Thc numbcr of trustLCS rcimbursLd for traYLlling cxpcnscs was nil (2024.. nil). -I'he aN'erage number of emploi'ees during the I'w. anal!"sed bi" fun¢iion as folloM'S'. 2025 2024 Building SLn'iCC& sLYurity' and clLaning
THE ]41EA TRUST NOTES TO THE FIIYAIYCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 6. Tangible fixed assets lE.4 Furniture YIDd equiprneDt Totsl House Cost Ai l April 2024 Additions Disposals Ai 31 March 2025 3.805.961 35,595 3.841,556 {3.805.9611 35.5951 (3,841.556) Depreciation At l April 2024 c.harge for N'car On disposals Ai 31 March 2025 3.3i7.217 32.854 183 133.0371 3,390.071 183 (3.390.254) (3.357.?17) Net book value Ai 31 March 2025 Ai l April 2024 448.744 2.741 451,485 MF.A I louse 'aS sold on 31 Juli. 2024. 7. Fixed a55et investments Total 2025 Total 2024 LtEd inveslFnents.' Market i'alue ai l April 2024 Additions at COSt Disposals at carrying valuc Net gains l (lossesl on revaluation 188.739 307,096 37.25) {172.7991 17,187 {188.739) Markct N'aluc at 31 March 2025 188.739 cash availoblefor reinvestmenl.. 6.704 Total 195,443 8. Debtors 2025 2024 Rents and scr%'ice charge arrears Othcr dcbtors Value added lax Prepai'menis .225 2,73) 10.939 19,914 1,303 2,210 3.513 34.813 12-
THE ]41EA TRUST NOTES TO THE FIIYAIYCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 9. Creditors: amounts talling due H'ithin onc I'car 2025 2024 Loan Rents and service charges in advance Other creditors Accruals 6,072 7,980 132,019 42.898 782.290 7.203 789.493 188.969 10. Creditors: atnounts falling duc aficr morc than onc !" 2024 Loan 4.554 The loan was rcpaid in full on 22 Ma). 2025. Anal)'sis of debt maturity: Amounts paTr'able'. Within onc ycar (Notc 9} Bet'een one and ,0 years 2025 2024 6,072 4.554 10,626 I l. Unrestrieted funds Bal&Dee *t IDCD]lle Expenditllr TrAn5fers InestMent BAl8nce At .Ipril 2024 g4in$ (losses) 31 larCh 2025 CJeneral Fund Designated funds: Rcpair and Refurbishment Fund 348.495 (889.326) 541.495 (6) 163.i43 1163.i431 163.543 348.49) 1889.326) 377.9)2 1664) Unreslrictedfunds-previousyear BalaDct at IDCD]IIt Exptnditurt Transftr5 Balance at 2ains 11055ts) 31 [arch 2024 21b23 General Fund Designated fund5: Repair and Rcfurbishmcnt Fund 353.048 (480.183) 127.135 259.434 3.996 11.757) 1122.4271 24,297 163,543 259.434 357.044 1481.9401 4.708 24.297 163.543 13
THE ]41EA TRUST NOTES TO THE FIIYAIYCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Restricted funds Bg14Dce •t lTh¢Dme F.xpenditurt Tr4D$fers Balanct 4t 31 Nlareh 21125 21b24 Refurbishment Fund 181.710 181.710 (181.7101 1181.7101 Restrieiedfunds- previomsyear Bg14Dce •t lTh¢Dme F.xpenditurt Tr4D$fers Balanct 4t 1 .4pril 2023 31 MArcb 2024 Rcfurbishtncnt Fund 294.4iO 294.4iO 1118.3341 {118.3341 i.)94 i.594 181,710 181.710 13. Analy515 of net 7155et5 betwee funds Tall%ible Fixtd LoDg ter Totsl 2025 Total 2024 asset turrent gsvts iDI'es¢ments liabiliti li9bilities Endowment Fund 196,242 Unrestricted funds Gcncral Fund Designated funds: Repair and Refurbishment Fund 163,543 Restricted funds Refurbishment Fund 181,710 541.49) Analysis ofnel assets behveenfunds-prioryear Tangible rixtd Fixed IAbng term Total 2024 Total 2023 ¢urreni a55tt5 iDI-tSttllts Sstts liabilitits Endowment Fund 271,242 (75.(K)O) 196.242 257,544 Unrestricted funds General Fund Designated fUd5. Rcpair and Rcfurbishmcnt Fund 2.741 6.021 (8.7621 19i,443 (31,900) 163,543 259,434 Restricted funds Rcfurbishmcnt Fund 177.502 451.48) 4.208 14.5541 181,710 541.49) 294.450 811.428 19i.443 1100.8791 14-