Company Number Charlty Number 03466597 1081760 TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL CONTENTS Page Cormpany information Fieport of the Board of Trustees Independent Examiner's r8POrt Statement of financial aclivities Balance sheet Notes to the financial statements 10. 15
TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL COMPANY INFORMATION DIRECTORSITRUSTEES K E C Sorensen (Chair) P W Gough CJRGr£nt D Jones Jccoe S A O'Rgilly P Brickell D Richards P Smith REGISTERED OFFICE Trlnlty Suoy Wharf 64 Orchard Place London E140JW ACCOUNTANTS Prlc8 Balley LLP 24 Old Bond Street, Mayfair London W1S4AP BANKERS Co-op I Isllngton High Street, Islinglon N19TR SOLICITORS Parker Arronberg 37 Rushey Green Calford London SE6 4AS COMPANY REGISTRATION NO 03466597 (England and VVales} CHARITY REGISTRATION NO 1081760
TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT} FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, Governance and Management Governln Documbnt The organization is a charilable cDmp8ny limited by guarantee, incorporated on 17th November 1997. Charity registration was conflrmed on 28 July 2000, The company was established under a Memorandum of Assoclation whlGh established the objoGts and powers of tha Charitable cc)mpany and Is governed under Its Artlcles of Associatlon, Recrultment and A olntment of Truste88 The Directors of the company are also charity trustees for the purposes of charity law and under the companies artlcles are known as members of tha Board of Trustees. The company is organlzed so that Ihe Trustees meet regularly to manage ils affairs. It does not employ any full or part-tlme staff but ils admSnistratlon ig managed under the dlrection of tha Trustees by Gonsultants, Rlsk Mana ement The company's Interests and obj8Cts are piotacled through th8 und8r1gase granled to Urban Space Holdlng5 LtdlTrinily Buoy Wharf Space Management Ltd. As developers and managers of the site USHrrBWSM are effectively bearlng the main risks. Th8r8 are legal remedies contalned in th& under lease should USHITBWSM b8 in breach. Publlc The charity Trustees have compli8d with their duty to have regard to the guidance on publlc benefit pu bli8hed by Ihe commission in ex8rcising their powers or duties. Ob'e¢tiv8s and Actlvltles The Gompany's objects and prlnclpal actlvities are: For the benefil of any charitable purposa which promo18S the arts and the educatlon of the publlc in the arts in the London Borough of Tower Hamlets and surrounding Boroughs as the Trustees may from time to lime d6termlne. The Tru51 achieves these objectives by m8inly grant aiding a wlde variety of individual artists or arts organisalions where they would be unable to undertaka specific aclivilies without financial support, The Trust also supports physical projects al Trinity Buoy Wharf, such a5 new buildings and bridge5. where it is cloar that these can not be funded without financial support. Trust Meetin Trustees mel four Ilmes in persnn during the y8ar, In January, April, July and December 2024, al which new grant applicatlon5 were proposed, dls¢uss8d and approved. In 8ddilion, regular contact was malntalned by th9 chairman and trustees and certain grants were proposed and debatod by email, Achievemen The Trust support of activities both 8t Trinity Buoy Wharf and those related to the Trust objectlves were energetically PLJrsued during the year 2D24.
TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUAFIANTEE WITHOUT SHARE CAPITAL The Trust supported a wide range of activities and programme5 to deliver education, in the visual arts, drama, pogtry. music and practical applied arts. The SUGcessful Trinity BLlOy Wharf Drawing Prize attracted over 2,000 entries and the high qualily of work w8s axhibiled at TBW and then on tour around the country with over 20,000 allendeas. The Second year al Trinity Buoy Wharf of the John Ruskin Prize w88 also judged a success wlth over 2,400 entries ranging from over life sized sculplures to engraving on the head of a pin. The World He8rt Beat organisation workgd with three local schools both at TBW and in the classrooms to leach and promote the performance of music. Poetry performance and tralnlng was delivered in association with the Hackney Empilg Theatre. Fine art and film applied art was dellvered at the Klngs Foundation as part of the very respected foundation year course, Trinity Buoy Wharf r8mained open on 364 days of the y8ar as a place of public resort as well as providing working space for nearly 700 paople. Thamgs Clippers the providers of river based publlc transport, have their administraliva, maintenance and tralning base at the TB W Jubllee pier, These and many other aclSvlties were underpinned by the strong revanue flow afforded to the Trinity Buoy Trust by the developer and manager tenant Urban Space Management. Flnancial Revlow and Reserves The Trinity Buoy Trust holds a 125 year lease on the land and bulldings al Trinity Buoy Wharf and grants a lease of 124 years to the developer and manager Urban SpaGe Mallag8mènt. 25 % of the rgnt receiv8d from tenants at TBW Is paid over lo the Trust. From which company Ih@ Trusl recelved £355,003 during Ihg year 1$1 ofJanuary to 3181 of December 202412023.. £318,270} The Charity expenditure totalled £374,569 (2023. £253,293}. UnreslriGled net assels at the year end lotalled £182,144 (2023.. £184,821), The pollcy of the trustees is to ensure that the level of reserves over the comlng years is sufficlent to meet the demands of the Trust. The level of free reserves at the 8nd of the year under review total of £Nil12023.. £Nil}, however the trust has £182,144 of funds design8led12023'. £184,&21 }, which can be undeslgnaled if the need arises lo ensure grant commitments can be met. All of the Trust's funds 1i8ld al the year end are generally unrestrScted funds which are expendable al the discrelion of the Truslees In furtherance of lh8 oblecllves of the charlty. Such fu nds may be held In ord8r to finance working capitol requirements. onslbl Ilties of the Trustees Res The Iruslaos {who are also the directors of Trinlty Buoy Wharf for the purposes of company lawl are rgsponsible for preparlng the Truslees, report and the financial stalemonls in accordance with applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected lo prepare the financial statements in accordance with United Kingdom Generally Accopled Accounting Practice (United Kingdom Accounting Standards and applicabla law). Under company law th& directors must not approve the financial statements unless Ihgy are Satisfied that they give 8 Iruo and fair view of the stale of affairs of the charitable company and of the incoming resources and application of resources, Including the income and expendlturo, of the charitable company for that period. In preparlng these financi81 staterments, the directors ar8 required to: select suitable accountlng policies and then apply them consistently., observe the methods and principlas in the Charities SO FiP FRS10212019)', make judgments and accounting estimates that are reasonable and prudent,, stat6 whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial stalemenls., prepare the financi81 slatements on the going conc8rn basis un less il is inappropriate lo prssume that the charitable company will continu8 in operation.
TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees are responsible for ke8ping adequate accounting records that arè sufficient to show and explain thg charitable company's transaclions and disclose with rgasonab18 accuracy al any tim9 the financial position of the charitable company and enable them to ensure th8t the financial statements comply with the Companies Act 2006. They are also responslbla for safeguardlng the assets of the charltable Company and hence for taking reasonable steps for the preventlon and detection of fraud and other irregularilies, The Trustees are responsible for the maintenance and integrity of the corporate and finanGial informallon included on the charitable company's website. Legislalion in the United Kingdom governing the preparation and dissemination of flnancial slatemenls may differ from legislatlon In other jurisdicllons. This report was approved by the Board of Trustees on 9 September 2025 and sign8d on 118 behalf by Erl¢ Sorensen Chair of TrL48tees
TRINITY BUOYWHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TRINITY BUOY WHARF TRUST COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL I report to the charity trustees on my examination of the accounts of the company for the year ended 31 Decemb&r 2024 which are set out on pages 10 to 15. R8sponsibilitles and bagls of roport As the charity trustees of the company land also Ils dlrgctors for the purposes of company lawl you are responsible for Ihe preparation of the accounts in accordance with the requirèments of the Companies Act 2008 I'the 2006 Act,). Having satisfied rnyself that the accounts of the company are not required lo be auditad under Part 16 of lh8 2006 Act and are eligible for independonl examination, I report in respect of my examination of your company's accounts as carried out under section 145 of Ihe Charities Act 2011 ('the 2011 Acl,). In c£rrying out my examlnalion I have followed the Directions givon by the Charity Cornmission under sectlon 14515llbl of the ?_011 Act, Indapendent examlner's statement Slnce the company's gross Income exceeded £250,000 your examiner must be a member of a body Ilsled In sectlon 145 of the 2011 Acl. I conflrm that l am qualified to undertake the 8xaminatlon b8cause l am a m8mb6r of the Institute of Chartered Accounlants in England and Walgs, which is one of the listed bodies, I havo completed my examination, I confirm that no mallers have com& to my attention In connection wilh the examinelion giving me cause to believe th8t In any m?t8ri81 respect.. accounting records were not kept in fespecl of the company as required by section 386 of the 2006 Act., or the accounts do not accord with Ihose records,, or the accoLJnts do not comply with the accounting requirements of sectlon 396 of the 2006 Act other than any requiremenl that the acGount8 give a 'lrue and fair view, which is not a matter considered as part of an ndependenl examination,, or the accounts havo not been prepared in accordance wllh the methods and principles of the Statement of Recommended Practlce for accounting and reporting by Gh8rities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 8ppIIc8ble in the UK and Republic of Ire18nd (FRS 1021. I have no concerns and have come across no other matters in Connection with the examlnallon lo which alt8nlion should be drawn In this report In order to enable a proper undorstandlng of the accounts lo be reached, Michael Cooper-Davis FCCA ACA Price Bailey LLP Chartered Accounlarnts 24 Old Band Streel, M8yfair London W1S4AP Date.. 19 September 2025
TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 (INCOME AND EXPENDITURE ACCOUNT) Notes Year ended 31 De¢omber 2024 Year ended 31 December 2023 UnrestriGted Fund Unrestrlcted Fund INCOME FROM: Charilablo activlties Investments 355,003 16,889 318,270 9,876 TOTAL 371,892 328,146 EXPENDITURE ON: Charitable aclivllles 1374,569) {253,2931 TOTAL 1374,5891 1253,2931 NET MOVEMENT IN FUNDS BEING NET INCOME I (EXPENDITURE) 12,677} 74,853 TOTAL FUNDS BROUGHT FORWARD 184,821 109,968 TOTAL FUNDS CARRIED FORWARD 182,144 184,821 All Income and expend ilur8 has arlsen from continuing activllies. The Statement of Flnancial Activities includes all galns and losses r9cognlsed in the year. The noles on pages 10 to 15 form part of these financial 5tat8monts.
TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2024 COMPANY REGISTERED NUMBER: 03466597 Noles 31 Decernber 2024 31 DecBmber 2023 CURRENT ASSETS Debtors 7,047 5,916 Cash 81 bank 633,221 676,966 640,268 882,882 CREDITORS- AMOUNTS FALLING DUE WITHIN ONE YEAR 10 1327,910) 1304,3381 NET CURRENT ASSETS 312,358 378,544 TOTAL ASSETS LESS CURRENT LIABILITIES 312,358 378,544 CREDITORS- AMOUNTS FALLING 11 DUE AFTER ONE YEAR (130,2141 {193,7231 NET ASSETS 182,144 184,821 FUNDS Unr8stricled funds Unreslricled fund Deslgnated fund 13 182,144 184,821 TOTAL FUNDS 182,144 184,821 For the year 8nding 31 December 2024 Ihe company w8s entitled to exemption from audlt under section 477 of th8 Companies Act 2006 r8lating to small companies. Dirgctors, responsibilities.. The members have not requlred tha Company to oblaln an audlt of Its accounts for the year In quesllon In accordance with section 476., The directors 8cknowledgg their r88ponsibilities for complying with th8 requiroments of the Act with respect to accountlng reoords and the preparatlon of accounts. These accounts have been prepared in accordance with th8 provisions applicable lo compani85 subject to the small companies, regime and in accordance with Statements of Rocommonded Practice for Charities of thè Flnancial R8porting Standard 102 ISORP 2019 - FRS 1021. The financial statgments were approved by the Board of Trustees on 9 September 2025 K E C Sorenson Trustee The notes on pages 10 to 15 form part of these financial statements.
TRINITY BUOY VVHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 BASIS OF PREPARATION Trlnlly Buoy Wharf Trust Is a Gharltable cornpany reglstered on 28 July 2000 under a Memorandum of Association whSch osl8blish8d thg obj8Cts and powers of the charitable company and is governed under Ils Arllcles of Association. Thg charitable company Is a publlc benefll enllty, limitod by guarantee, under the number 03466597 In England, wlthin the United Kingdom. The address of the register8d office, and place of busin8ss, is Trinity Buoy Vvharf, 64 Orchard Place, London, England E14 OJW. The financial statements have been prep8red under the historical cost convention, unless otherwise speclfied wilhln these accounling policies, and in accordance with Statements of Recommended Practice for Ch8rltles of the Flnancial Raportlng Standard 102 ISORP 2019- FRS 1021 and appllcable accounting standards as amended by Bulletin 1. The financial sta16ments are presented in Sterling 1£) and ais rounded to the nearest £, Golng Concern Tha ff nanclal slalemgnls hav8 been prepar8d on a golng CDncern b8sls whlch for&casts that th6 Company will have adequat8 resources to continue in operational existenc8 for a period of at least 12 months from the dale of thi5 financial report. A forecast has been prepared for a period of more than 12 months from the date of approval of these financial statements. The forecast indicates that, whllst taking into account re8sonabla downsides, suffSGlenl f unds are expected to be generated wlthin the Compgny so a8 to meèt the Ilabililie8 of the Company as they fall due. ACCOUNTING POLICIES Fund accountlng Unr&stricted funds are 8vailable for use at the discretlon cf the trustees In furtherance of the general objectlves of the Charity and which have not bean deslgnated for other purposes, Designated funds Gomprise unrestricted funds that have been set aside by the trustees for particular purposes. Thg 81m and use of each designated fund is set out In th8 notes to the financSal slatemenls. Income All income is included in the Statement of Flnanci81 Actlvltles (SOFA) wh@n the Charity 15 legally entitled lo the income after any performance conditions have been met, the amount can be measured reliably 8nd it is probable th81 the Income will be reGeiv8d. Rental income Is recognised whon the Charily is legally entitled to the incom8 after any performanoo onditlons have been met, the amount can be measured reliably and it is probable that the Incame will be recelved. Rental Income Is r8cognised In the period to which It relates. Donations, legacies, grants and other forms of voluntary income are recognised as income when receivable. io
TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Expenditure All expendlture Is accounted for on an accruals basis and is Incluslve of VAT. Expendlture has been classlfied by nature. Govemance costs arg those incurred for the gov8rnance arrangemonls of th8 Charity which relate lo the statutory running of the Charity as opposed to those costs associated with generating funds. Costs that Cannot b8 allocated directly are apportioned as support costs on a fair, reasonable, accur8te and consistonl estimate basis weighted according lo the use of the tru81's general resources. Tangible flxed assets and depreciatlon Tangible fixed assets other than freehold land are stated al cost less depreclation. Depreclalion is provlded at rat9s calculated to wrfte off the cost less estimalad resldual value of each 8s58t over its axpected useful Ilf8, as follows.. Leasehold property & leasghold Improvements.. Stralght line over 15 years Plant and machinery.. Slralght Ilne over 3 years Flxtures, fittings & equipment.. Straight Ilne over 4 years Assets gubject lo deprecialon or amorlisatlon are ievlewed for impairments whenever 8vents or other changes in Gircumstances indicate that their carrying value is gr6aler then the recoverable amount. Trinity Buoy Wharf Includes its property, Trinity Buoy Wharf, al cost. As the cost of the property was fully covered by a grant there is subsequently no langible fixed assets shown on the balance sheet, Debtors Trade and olhar debtors ar8 rocognlsed at th8 settlement amount due after any trade discount off8red. Prep8ymenls are valued al the amount prepaid nel of any trade discounts due. Accrued income and lax recover8ble Is Included at th8 best estimalg of the amounts recelvable at the balance sha@t date. Cash at bank and In hand Cash and cash equivalenls include cash In hand. deposits held at call w51h banks, oth8r short-term liquld Investments with original maturitles of thr89 months or less, and bank overdrafls, Creditors Creditors are recogiiised where the Charity has a present obligation from a past event that will probably result In the transfer of funds lo a Ihird party and the amount due to settle the obllgalion can be measured or estlmaled rellably. Creditors are normally recognised at their settlemenl 8mounl after allowing for any trade discounts due. Flnanclal Instruments Th8 Charity only has financlal assets and financial Ilabiliti88 of a kind that qualify as basic financlal instruments. Basic financial instruments are initially recognised at transaction value and subsgquently m&asured at Ihelr settlemonl value. All assets and Ilabllit19s are recorded at cost whlGh is thelr falr value. Taxation The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and Ihei-efore it meets the definition of a charitable company for U K corporation tax purposes. Accordlngly, the company is potentially exempt from taxation in respect of income or c8pi181 gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Acl 2010 or Section 256 of the Tax8tion of Chargeablg Gains Acl 1992, to the extent that such income or gains are applie exclusively to charitable purposes. Key sources of Judgement and estimatlon uncertalnty No slgnlficant ludgemenls, accounllng pollcles or assumptlons have been made by rnanagement in appSying tho Charity's accounting policies. li
TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ANALYSIS OF INCOME AND ENDOWMENTS 31 December 31 December 2024 2023 Charltable actlvltles Rgntal income 355,003 318,270 LEGAL STATUS OF THE CHARITY The Charlty is a company limltad by guarantee and has no share Gapilal. The liability of each member In tha event of windlng up 15 Ilmlted to £1, STAFF COSTS There Ere no employees who received any emolum8n18 during the year or the prior year. The average number of staff In the year was Nil12023 - Nil>. TRUSTEES REMUNERATION OR EXPENSES No remuneration w8s paid to truslees durfng the year12023 - £NIL). No expenses were reimbursed to the trustees in tha ye8r12023 - £N ILI- TANGIBLE FIXED ASSETS Leasehold Land and Bulldlngs Cost Deprecielion 106,250 1106,2501 Net book value 31 December 2023 Net book value 31 December 2024 The Trust was granted a licence to occupy the site lo Urban Space Management Llmited for 124 years from 1 April 1998. U pon Gompletion of work specified in the development agreement this licence was converted into a lease. 12
TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL ANALYSIS OF EXPENDITURE Year end8d 31 December 2024 Year ended 31 D8cember 2023 Grants payable to Institutlons Whila Rose foundation The Big Di8W USM Chainslcir8 Context Office Exploration of Foreshorg Unlverslty of Arts A¢llon Dog ZU UK RIOFONEHACK rhe Llne Be Th8 Band Royal Drawlng Show of Show Opera up Closa Ship's Orchestra London Handel Fesliv81 The Kings Foundation Maud Mosaics Longplayer Ruskin Prlze Laaplng thg Lea Unlv8r51ty of Dundee - The Blg Draw CID- The Big Draw Campalgn for Drawino Tham8s Fgstival Trust AtyFac8 Totally Tham8S (37,000> 50,000 64,000 18,780 15,000 30,000 12,4001 12,3621 15001 91,000 8,942 {10,0001 4,475 5.000 26,000 178,20D 9,900 31,000 13,000 15,000 9,000 11,000 65,000 5,618 (141 13,0001 {12,5001 15,5001 349,226 15,004 228.413 9,795 Grants payablo to Indlvlduals 364,230 238,208 Support and Governanc8 Costs Secretarial fees Indgpendent 8xaminer's remunoralion 4,855 5,484 10.003 5.082 10,339 15,085 Total Rasourcès Exponded 374,241 253,293 13
TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 DEBTORS 31 December 31 December 2024 2023 Accrued interest 7,047 5,916 10. CREDITORS - DUE WITHIN ONE YEAR 31 D8cemb8r 31 Decgmber 2024 2023 othor creditors Commilled grants 9,880 318,030 12,070 292,268 327,910 304,338 11, CREDITORS- DUE AFTER ONE YEAR 31 D$cember 31 December 2024 2023 Grants 130,214 193,723 12. DESIGNATED FUND 31 Decembgr 31 Docember 2024 2023 Proposed Leamoulh Bridge and Fooipalh 183,144 184,821 The designated fund represents funds th81 w511 go towards the operation and maintenance of Leamouth Bridge & Footpath once it is built. The trust has promoted the building of the bridge since 2003. The bridge will connect Trinlty Buoy Wharf with Canning Town Station thus making the site much more accessible. 14
TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. FUNDS Balance a5 at 1 January 2024 Balance a5 at 31 December 2024 Incom8 Expenditura Transfers Deslgnated funds Proposed Leamoulh Bridge and Fooipalh 184,821 12,6771 182,144 TOTAL DESIGNATED FUNDS 184,821 12,6771 182,144 Unrestrlcted f und 371,892 {374,589} 2,677 TOTAL UNRESTRICTED 371,892 1374,5691 2,677 TOTAL 184,821 371,892 1374,569) 182.144 The transfer of funds is In relatlon lo the charity'5 Increased unrestricted expendiluie, Balance as at 1 January 2023 Balance as at 31 December 2023 Income Expenditure Tran8f8r8 Deslgnatad funds Proposed Leamoulh Bridge gnd Footpath 109.968 74,853 184,821 TOTAL DESIGNATED FUNDS 109,968 74,853 184,821 Unr8strlct¢d fund 328,148 1253,2931 174,8531 TOTAL UNRESTRICTEt) 328,146 1253,2931 (74,8531 TOTAL 109,968 328,146 1253,293) 184,821 The transfer of funds is in relatlon to the charity's incroased unrestricted expenditure. 14. RELATED PARTY TRANSACTIONS No related party transactions took place in the period (2023 - £2,960). 15