**Bedingfield's Trust** Charity Registration Number: 1075413
**Accounts for the year ended 30th September 2023**
## **Bedingfield's Trust**
## **Accounts for the year ended 30 September 2023**
## **Index**
## **Page**
- 1-5 Trustee's Annual Report
- 6 Independent Examiner's Report
- 7 Statement of Financial Activities
- 8 Balance Sheet
- 9 - 14 Notes to the Accounts (including Accounting Policies)
## **Bedingfield's Trust**
## **Accounts for the year ended 30 September 2023**
## **Trustees' Annual Report**
The Trustees have pleasure in submitting their Annual Report and Financial Statements for the year ended 30 September 2023.
## **Objectives and activities of the Charity**
The object of Bedingfield's Trust shall be the advancement of legal education among the members and students of Gray's Inn (including legal research by members and students of Gray's Inn and making public the results thereof) with a view to supplementing the Inn's contributions to legal excellence as a memorial to the Testator.
The Trustees hold the capital and income of the charity on Unrestricted Funds from which they may make donations towards such wholly charitable purposes as they in their absolute discretion think fit to meet with their objectives. The Trustees also have power to do such acts and things as may be necessary or desirable for that purpose.
Without prejudice to the generality of the foregoing, the Trustees may apply the income and capital of the fund as follows:
- 1 in sponsoring readings (or lectures) on legal subjects given by practising barristers at Gray's Inn, to be known as Bedingfield's Readings, arranged in association with Gray's Inn and in remunerating the Readers (or lecturers). The Trustees are requested (but without imposing any legally binding obligation upon them or restricting their discretion) regularly to consider sponsoring such readings and
- 2 in providing scholarships for students and newly called barristers of the Inn to be known as Bedingfield's Scholarships, to be awarded in such a manner as may be agreed between the Trustees and Gray's Inn and
- 3 in providing or assisting in providing continuing professional education for members of Gray's Inn by practising barristers.
Without restricting the width of their discretion the Trustees are requested to have special regard for those practising or intending to practise on the Wales and Chester Circuit when exercising their powers with regard to scholarships and continuing professional education.
The Trustees may also from time to time make grants to the Barrister's Benevolent Association out of the capital or income of the fund.
The Trustees have complied with the duty in s17(5) of the Charities Act 2011 to have due regard to the Charity Commission's Public Benefit guidance when exercising any relevant powers or duties.
## **Achievements and performance**
## Grant making:
The Trustees have resolved to make a grant towards the provision of scholarships and advocacy training by Gray's Inn, as detailed in the Notes to the accounts.
Page 1
## **Bedingfield's Trust**
## **Accounts for the year ended 30 September 2023**
## **Trustees' Annual Report**
## Investments:
The performance of the fund is monitored against a bespoke benchmark agreed by the Trustees, which is currently CPI +4% and the ARC Sterling Balanced Index. The Investment Manager provides regular reports to the trustees who review the performance of the portfolio and of the Investment Manager once a year.
The value of the Trust's portfolio as at 30 September 2023 totalled £3,709,470, an increase from £3,663,446 as at 30 September 2022.
The Trustees are satisfied with the investment performance, which has been reviewed in accordance with the Policy Statement. The Trustees do not propose to make any changes to their policies at this time and will continue to review the position.
## **Financial Review**
Net income received from investments during the year totalled £131,961 (£142,413 in 2022) and £135,000 (£130,000 in 2022) was applied directly towards the charity's purposes. Costs for raising funds, consisting solely of investment charges, totalled £15,419 (£16,005 in 2022) and governance costs for the year were £9,486 (£8,728 in 2022).
The SoFA includes net gains / (losses) arising on revaluations and disposals of investments throughout the year. After taking these into account, the net decrease in funds for the year ended 30th September 2023 was £12,275 (£142,834 decrease in 2022).
Total Unrestricted Funds held as at 30th September 2023 were £3,834,320 a decrease from £3,846,595 as at 30th September 2022, represented by investment assets and cash. The Trustees are satisfied they have sufficient funds to meet with their ongoing objectives and will continue to regularly review the position.
## Reserves:
The Charity's investments provide income from which to make grants and the Trustees aim to distribute all or a very large percentage of the income net of expenses each financial year. The Trustees review the available income funds each year, not making multi-year grants and therefore do not maintain an amount of set reserves, viewing all funds held as free reserves available for applying towards the charity's activities.
## Investments:
The Trustees have agreed with the Investment Manager the objectives to secure a reasonable growth in income consistent with the long term preservation of capital in real terms. Investment decisions should be made based on views of the prudent person in accordance with the standard investment criteria relating to suitability and diversification.
The Trustees wish to ensure that the objectives outlined are achieved with an acceptable risk. This implies the need for diversification of investment of the Trust to include a range of assets including fixed interest stocks, UK and overseas shares.
Page 2
## **Bedingfield's Trust**
## **Accounts for the year ended 30 September 2023**
## **Trustees' Annual Report**
Investments comprise holdings in UK, large overseas listed companies, unit and investment trusts, including those investing in major international markets and also fixed interest securities. The portfolio may therefore include a proportion of medium-sized or smaller UK companies and have exposure to international markets.
Uninvested cash is held in client accounts at Rathbones Investment Management.
## **Structure, Governance and Management**
The governing body of Bedingfield's Trust (registration no: 1075413) are the Trustees of a Will dated 14th September 1995 which was proved by the Executors on 12th April 1996 as modified by a court order dated 3rd November 1997.
The power of appointing new Trustees is vested in the then current Trustees. Trustees are selected due to their connection with the current Trustees in accordance with their skills, experience and understanding of the obligations imposed on such an appointment.
Bedingfield's Trustees shall not be less than three nor more than six in number, a majority of whom shall not be members of Gray's Inn. There shall be a quorum of three at any Trustees' meeting.
The Trustees meet annually to review performance and make grants towards provision of scholarships and advocacy training by Gray's Inn. The Board nominates Trustees to attend the interview process to select scholars they shall support.
The Trustees ensure they are operating within the current guidelines by discussing any matters arising from updated Charity Commission practice and guidelines and, along with their own reading, they are guided by Rathbones Trust Company Ltd and Addleshaw Goddard, as their advisors.
The Trust's capital is mainly invested on stock markets. As the Trustees have unrestricted powers of investment under the governing deed, the Trustees have resolved to delegate the day to day management of the Trust's Funds to Rathbones Investment Management Ltd.
## Risk assessment:
The Charity Trustees have given consideration to the major risks to which the charity is exposed and are satisfied that systems or procedures have been established in order to manage those risks. After considering the areas of governance, operational, financial, environmental and compliance the Trustees have identified that major negative fluctuations in investment assets could cause a material risk to the Charity's funds. In order to mitigate this risk and in accordance with s15 Trustee Act 2000 the Trustees have established a Policy Statement to be adhered to by the Investment Manager, which is reviewed at least once a year in line with investment performance.
Page 3
## **Bedingfield's Trust**
## **Accounts for the year ended 30 September 2023**
## **Trustees' Annual Report**
## **Reference and Administration details**
Registered No: 1075413 Principal Address: C/o Rathbones Investment Management, Port of Liverpool Building, Pier Head, Liverpool L3 1NW Trustees who Robert Wallace Ham QC (Chair) served during the Olwen Mair Whitty year: James Francis Stewart Preece Andrew Timothy Morris Solicitors & Addleshaw Goddard, 3 Sovereign Square, Sovereign Street Administrators: Leeds LS1 4ER Accountancy: Rathbones Trust Company Limited, Port of Liverpool Building, Pier Head, Liverpool L3 1NW Independent Kerry Roberts, c/o Port of Liverpool Building, Pier Head, Liverpool, L3 1NW Examiner:
Bankers & Rathbones Investment Management Limited, Port of Liverpool Building, Investment Managers Pier Head, Liverpool L3 1NW
## **Plans for the future**
The Trustees are satisfied that their current policies, including to donate the majority of net income received each year, are sufficient to meet their objectives and do not expect these to be amended in the foreseeable future.
Page 4
## **Bedingfield's Trust**
## **Accounts for the year ended 30 September 2023**
## **Trustees' Annual Report**
## **Trustees' Responsibilities**
The Trustees are responsible for preparing the Trustees' Annual Report and Financial Statements in 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 accounts for each financial year which give a true and fair view of the state of affairs of the charity and of its income and application of resources for that year.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting polices and then apply them consistently;
- observe the methods and principles of '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 Charities SORP);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS102) have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for:
- keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity
- keeping adequate accounting records which enable the Trustees to ensure the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed.
- for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Declaration**
The Trustees declare that they have approved the Trustee's report above.
## **As agreed and signed on behalf of the Trustees**
Robert Wallace Ham QC Trustee
Date
Page 5
## **Bedingfield's Trust**
## **Accounts for the year ended 30 September 2023**
## **Independent Examiner's Report**
## **Independent examiner's report to the Trustees of the Bedingfield's Trust - charity no: 1075413**
I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended 30 September 2023, which are set out on pages 7 to 14.
## **Responsibilities and basis of report**
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act").
I report solely to the Trustees in respect of my examination of the charity's accounts, carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I am a member of an approved body subject to the provisions of the Revised Ethical Standard 2019 issued by the Financial Reporting Council (FRC). Rathbone Trust Company has provided book keeping services in accordance with the terms of engagement signed by the Trustees and I do not report to the book-keeper in any respect. I give due consideration to the FRC's Revised Ethical Standard 2019 at all times.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act, or
- the accounts did not accord with the accounting records, or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
_**Kerry Roberts TEP FMAAT MCSI Date C/o Port of Liverpool Building, Pier Head, Liverpool**_
Page 6
## **Bedingfield's Trust**
## **Accounts for the year ended 30 September 2023**
## **Statement of financial activities**
|_Notes_
**Income from:**
Investments
_4_
**Total Income**
**Expenditure on:**
Raising funds
_5_
Charitable activities
_6_
**Total Expenditure**
Net gains / (losses) on investments
_9_
**Net movement in funds**
**Reconciliation of funds**
Balance brought forward at 1 October 2022
**Balance carried forward at 30 September 2023**|**Unrestricted**
**Funds**
**Total**
**2023**
**£**
131,961
**131,961**
15,419
144,486
**159,905**
15,669
(12,275)
3,846,595
**3,834,320**|**Unrestricted**
**Funds**
**Total**
**2022**
**£**
142,413
**142,413**
16,005
138,728
**154,733**
(130,513)
(142,834)
3,989,429
**3,846,595**|
|---|---|---|
The notes on pages 9 to 14 form part of these accounts.
Page 7
## **Bedingfield's Trust**
|**Accounts for the year ended 30 September 2023**
**Balance Sheet at 30 September 2023**
_Notes_
**Fixed Assets**
Investments at Market Value
_9_
**Current Assets**
Debtors
_10_
Cash at bank and on deposit
_11_
Total Current Assets
**Liabilities**
Creditors: amounts falling due within
one year
_12_
**Net Current Assets / (Liabilities)**
**Total Net Assets at 30 September 2023**
**Funds of the Charity**
Total Unrestricted Funds
**Funds at 30 September 2023**
Approved by the Board of Trustees and signed on its behalf by:
Robert Wallace Ham QC
Trustee
The notes on pages 9 to 14 form part of these accounts.|**Unrestricted**
**Funds**
**Total**
**2023**
**£**
3,709,470
3,709,470
10,823
123,447
134,270
9,420
124,850
**3,834,320**
3,834,320
**3,834,320**
Date|**Unrestricted**
**Funds**
**Total**
**2022**
**£**
3,663,446
3,663,446
53,017
140,041
193,058
9,909
183,149
**3,846,595**
3,846,595
**3,846,595**|
|---|---|---|
Page 8
## **Bedingfield's Trust**
## **Accounts for the year ended 30 September 2023**
## **Notes to the Accounts**
## **1 Charity Information**
Bedingfield's Trust is governed by a Will dated 14th September 1995 which was proved by the Executors on 12th April 1996 as modified by a court order dated 3rd November 1997 and registered in England and Wales. Its principal address is c/o Rathbones Investment Management, Port of Liverpool Building, Pier Head, Liverpool, L3 1NW.
The charity is a Public Benefit Entity as defined by FRS 102.
## **Accounting Policies**
The financial statements have been prepared on an accruals basis and a going concern basis 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) and UK Generally Accepted Accounting Practice.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared on the historical cost convention, modified to include the revaluation of
investments at fair value. The principal accounting policies adopted are set out below.
The charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
## **Going Concern**
The Trustees have assessed whether the use of Going Concern is appropriate and have concluded that the charity has adequate resources and reserves to enable it to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity's ability to continue as a going concern and thus the Trustees continue to adopt the ‘going concern’ basis of accounting in preparing the financial statements.
## **Charitable Funds**
The charity holds Unrestricted Funds which are available for use at the discretion of the charity in furtherance of its charitable objectives unless the funds have been designated for other purposes.
## **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.
All dividend income is recorded net and includes tax deducted only when it is repayable to the charity.
Page 9
## **Bedingfield's Trust**
## **Accounts for the year ended 30 September 2023**
## **Notes to the Accounts**
## **Expenditure**
Expenditure is recognised when there is a legal or constructive obligation for which it is more likely than not that a transfer of economic benefit will be required in settlement and the amount can be reliably measured as at the reporting date. A constructive obligation exists where the charity has communicated the commitment to provide funding to the recipient by the reporting date and there are no conditions attached to its payment falling due after the reporting date.
Provisions for liabilities must be recognised when either the timing or the amount of future expenditure required to settle the obligation is uncertain. These are distinguished separately on the balance sheet. If a transfer of resources is no longer required, provisions are reversed and charged to the SoFA.
## **Governance costs**
Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
## **Investments**
Investments held in the fund are included at their market value as follows:
- (a) Listed securities are valued at the mid market value ruling at the balance sheet date.
- (b) Listed securities held in foreign currencies have been valued at the mid market value and translated into their sterling equivalents at the rates ruling at the balance sheet date.
- (c) Gilts are valued at the mid market value ruling at the Balance Sheet date and include interest that has accrued up to that date.
Investments are classified as a fixed asset except when classified as a current asset where the intention of the Trustees is to dispose of the asset and not reinvest the proceeds.
## **Other recognised Gains and Losses**
Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost and are charged or credited to the Statement of Financial Activities in the year of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities resulting from revaluing investments to market value at the Balance Sheet date.
## **Taxation**
The charity is not liable to income or capital gains tax on its charitable activities. Irrecoverable VAT is included in the asset cost or the expense to which it relates.
## **Cash and cash equivalents**
Cash at bank and in hand is held to meet short-term cash commitments as they fall due rather than for investment purposes. 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.
## **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.
Page 10
## **Bedingfield's Trust**
## **Accounts for the year ended 30 September 2023**
## **Notes to the Accounts**
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, 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 receipts 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 service 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.
## **3 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.
Page 11
## **Bedingfield's Trust**
## **Accounts for the year ended 30 September 2023**
## **Notes to the Accounts**
|**4 Investment income**
UK Equities
Unit Trust Income
Unit Trust Interest
REIT
Overseas
Bank Interest
Gilt Interest
Excess Reportable Income
Accrued Interest
Non reclaimable tax deducted at source
**5 Raising funds**
Investment Management fees
**6 Charitable activities**
_Grant making:_
Donations made - Gray's Inn
Governance costs (note 7)|**2023**
£
69,902
16,454
6,693
4,930
29,266
4,370
82
453
2,560
(2,749)
131,961
**2023**
£
15,419
**2023**
£
135,000
9,486
144,486|**_2022_**
_£_
_78,408_
_30,776_
_6,840_
_5,829_
_22,835_
_304_
_0_
_0_
_0_
_(2,579)_
_142,413_
**_2022_**
_£_
_16,005_
**_2022_**
_£_
_130,000_
_8,728_
_138,728_|
|---|---|---|
The Trustees made a grant to Gray's Inn to be applied towards scholarships and continuing education by the Inn.
|**7 Governance costs**
Accountancy and compliance fees
Independent Examination fees
Solicitors fees|**2023**
£
3,960
840
4,686
9,486|**_2022_**
_£_
_3,960_
_660_
_4,108_
_8,728_|
|---|---|---|
## **8 Remuneration and Other Information**
The charity has no employees and none of the Trustees have received any remuneration or repayment of out-of-pocket expenses during this or the previous financial year.
Page 12
## **Bedingfield's Trust**
## **Accounts for the year ended 30 September 2023**
## **Notes to the Accounts**
|**9 Investments**
_Listed:_
Fixed Interest
Investment Trusts &
Property Funds
Overseas
UK Equities
Commodities|_Value at_
Purchases
Sales
Realised
Unrealised
_Value at_
_30/09/2022_
at cost
proceeds
Gains/(losses)
Gains/(losses)
30/09/2023
_£_
£
£
£
£
£
_143,866_
557,643
262,716
377
(8,307)
430,863
_403,850_
115,495
170,562
(3,507)
4,497
349,773
_1,603,808_
140,184
330,863
11,024
(13,973)
1,410,180
_1,403,771_
43,196
22,859
519
23,023
1,447,650
_108,151_
0
39,163
1,164
852
71,004
_3,663,446_
856,518
826,163
9,577
6,092
3,709,470|
|---|---|
The following investments represented more than 5% of the charity's total portfolio as at the year ended 30 September 2023 and 30 September 2022:
|JP Morgan Asset Managers (UK)
**10 Debtors**
Investment income receivable
Proceeds of sale receivable
**11 Cash at Bank and on Deposit**
Rathbone Investment Management
**12 Current liabilities**
_Creditors: Amounts falling due within one year:_
Addleshaw Goddard
Rathbone Trust Co Ltd
Rathbone Trust Co Ltd - prior year|**2023**
8.04%
**2023**
£
10,823
0
10,823
**2023**
£
123,447
123,447
**2023**
£
0
4,800
4,620
9,420|**_2022_**
_8.60%_
**_2022_**
_£_
_15,322_
_37,695_
_53,017_
**_2022_**
_£_
_140,041_
_140,041_
**_2022_**
_£_
_819_
_4,620_
_4,470_
_9,909_|
|---|---|---|
Page 13
## **Bedingfield's Trust**
## **Accounts for the year ended 30 September 2023**
## **Notes to the Accounts**
|**13 Financial Instruments**
**Carrying amount of financial assets**
Debt instruments receivable within one year
- Debtor
- Cash
**Carrying amount of financial liabilities**
Payable within one year
- Creditors
**Instruments measured at fair value through SOFA**
Investments at value|**2023**
**£**
10,823
123,447
134,270
9,420
3,709,470|**_2022_**
**_£_**
_53,017_
_140,041_
_193,058_
_9,909_
_3,663,446_|
|---|---|---|
## **14 Related Party Transactions**
The trustees have considered personal or other interests in which as a result of a decision made where an individual may benefit financially or otherwise, either directly or indirectly. In order to comply with their duties, the trustees confirm the person affected does not take part in any discussions relating to the issue concerned other than to clarify facts.
Andrew Morris, Trustee, was an employee of Rathbone Investment Management (RIM). The investment management is undertaken by RIM at their standard terms as offered to other charities. The trustees are in no way obliged to retain RIM as investment managers but do so on the basis that the terms and performance have been satisfactory when compared to alternative providers of investment management.
The matter is monitored and kept under review to ensure that the charity receives appropriate and cost
effective investment management services.
Fees paid for professional services rendered during the period to 30 September 2023:
|Investment management fees|**Unrestricted****_Unrestricted_**
**Funds**
**_Funds_**
**2023**
**_2022_**
£
_£_
15,419
_16,005_
15,419
_16,005_|
|---|---|
There were no other related party transactions requiring disclosure in respect of the year ended 30th September 2023 or 30th September 2022.
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