Annual Report and Financial Statements for the Year Ended 31 March 2024
## Living Rock Trust
Charity registration number: 1082876
Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
## **LIVING ROCK TRUST**
## **CONTENTS**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Cash Flow Statement|9|
|Notes to the Financial Statements|10 to 17|
## **LIVING ROCK TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Trustees**
Christopher Alton Richard Knapp Kathryn Boden (resigned 6 December 2023) Sadie Batstone Esther Shackell (appointed 6 December 2023)
**Charity Registration** 1082876 **Number**
**Principal Office** Station Road Stoney Stanton Leicestershire LE9 4LU **Independent Examiner** G W Schulz FCMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF **Bankers** Barclays Bank plc Town Hall Square Leicester Leicestershire LE1 9AA
Page 1
## **LIVING ROCK TRUST**
## **TRUSTEES' REPORT**
The Trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2024.
## **Structure, governance and management**
## _**Nature of governing document**_
Living Rock Trust is a registered charity, number 1082876, and is constituted under a Trust deed.
## _**Recruitment and appointment of Trustees**_
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## _**Induction and training of trustees**_
Induction of Trustees is the responsibility of the appointed Chair of Trustees, who is currently also a Pastor of the Church.
## _**Organisational structure**_
Trustees are responsible for controlling the work, management and administration of the charity and its assets on behalf of its beneficiaries. Policies, procedures and legal compliance are the responsibility of the Trustees. Salaries and contracts are also the responsibility of Trustees who meet annually in the form of a remuneration committee. Trustees are appointed by fellow Trustees and are selected based on specific skills and experience and comply with the Church’s statement of faith. Trustees do not receive payment for their role as a Trustee and are also members of the Church.
## _**Risk management**_
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Trustees follow guidance from the Charity Commission to ensure that the Trust is compliant with the principles of Charitable purpose and public benefit.
The spiritual activities of the Church are delivered by the Pastors of the Church, with some of these Pastors receiving payments from the Trust to support them in their Ministry and so they are available to the Church members and to develop teaching.
Page 2
## **LIVING ROCK TRUST**
## **TRUSTEES' REPORT (CONTINUED)**
## **Objectives and activities**
## _**Objects and aims**_
The charity supports the activities of Living Rock Church, a church promoting the Christian Gospel with congregations meeting across Leicestershire, Warwickshire and Staffordshire. The objects of the charity are:
(a) The proclamation and furtherance of the gospel of God concerning his Son, Jesus Christ Our Lord and the preaching and teaching of the Christian faith.
(b) The relief of persons who are in conditions of need, hardship and distress, or who are aged or sick.
To further its aims the Church has regular Church Meetings and events which are open to the public and provides training and encouragement to members and associated Churches.
## _**Public benefit**_
The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
## _**Review of activities**_
The Church which the Trust supports continues to grow and now meets across three locations - Stoney Stanton, Market Harborough and Atherstone.
The Trust owns a building which has a 500-capacity auditorium used for Sunday gatherings and other meetings, smaller meeting rooms, and offices hosting the administration of the Trust. The building is also used for Community outreach activities.
C Alton, R Jones, S Russell, R Pemberton, P Chapman, W Lyon and M Shuter continue as Pastors of the church across the three locations. Market Harborough and Atherstone congregations meet regularly in rented buildings. Additionally, the Pastors support development activities in other Churches, most recently in Wakefield.
The Church currently serves 350 people(2023:330), who are regarded as members. A further 186 (2023:148) people visit the Church and are regarded as regular visitors. Additionally there are 84 (2023:84) people in Youth (11 - 18s) and 176 (2023:146) children (0-11s).
In order to deliver Pastoral support, the congregation is encouraged to join Life Groups which are led by other Church members and are overseen by Pastors. These Groups generally meet in homes in the community. Additionally Alpha and Marriage courses have been regularly delivered, available to the local community.
Page 3
## **LIVING ROCK TRUST**
## **TRUSTEES' REPORT (CONTINUED)**
To support the congregation and associated Churches significant investment has been made in media facilities to share teaching and communicate more effectively with members. This includes the development of an LRC Grow app which provides online access to resources.
Long term plans include giving more autonomy to congregations, ultimately investing in buildings where congregation growth requires a local presence.
The Church also seeks to serve the local community through regular activities, provided by Church members at the Church building. This includes Mumstop providing weekly support through Baby and Toddler Groups and for meetings for families with pre-school children with special needs, impacting over 120 community families. There is also a weekly Community Coffee event.
Links have been forged with congregations in Kenya, providing Pastoral and Teaching support. Additionally, Church members sponsor Kenyan Children’s education which is administered by the Trust.
Activities and Achievements can further be seen on the Living Rock Church Website.
## **Financial review**
Income for the year amounted to £885,096 (2023: £829,411) and expenditure £875,550 (2023: £847,548). Funds carried forward amount to unrestricted funds of £1,415,376 and restricted funds £Nil. The increase in income is a result of continued Church growth.
The Trust is mainly funded by Tithes and Gifts of Church members plus the associated Gift Aid claimed on these donations. These gifts are voluntary donations in order for the Church to deliver its Christian services, including meeting specific needs and alleviating hardship where appropriate.
The Trust also makes significant donations to the Quantum Trust to support their Christian activities, following the principle of Tithing income.
## _**Policy on reserves**_
In principle the Trust ensures it has reserves to operate for three months, in order to be able to meet objectives in the event of a change in circumstance, particularly with regard to support of people. This is estimated at £121k. There are also plans for building expansion in Market Harborough and therefore £82k has been reserved from past surpluses to support potential activity. Additionally there is a £18k fund for missionary activities. These funds are not regarded as restricted. Given changes in interest rates the Trust has opened instant access interest bearing accounts to generate interest income. The Trustees do not wish to speculate with Charity income and therefore at this stage do not have plans to enter into term deposits or investments which mean that cash is not accessible.
The Trustees are aware of future economic challenges therefore funds are in place in the event of a drop in income which is voluntarily provided by donors and so is subject to reduction. There are also plans to refurbish parts of the building which is owned by the Trust. In principle the Trustees approve break even budgets with surpluses used for investments to support future operations.
Page 4
## **LIVING ROCK TRUST**
## **TRUSTEES' REPORT (CONTINUED)**
## **Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
## **Statement of Responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities 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 period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards 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 business.
The Trustees are responsible for keeping proper 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 Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The Trustees 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.
The annual report was approved by the Trustees of the charity on 15 January 2025 and signed on its behalf by:
......................................... Richard Knapp Trustee
Page 5
## **LIVING ROCK TRUST**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIVING ROCK TRUST**
I report to the Trustees on my examination of the accounts of Living Rock Trust for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the charity Trustees of Living Rock Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Living Rock Trust's accounts carried out under section 145 of the 2011 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**
Since Living Rock Trust's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Chartered Institute of Management Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of Living Rock Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting 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.
...................................... G W Schulz FCMA
Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
15 January 2025
Page 6
## **LIVING ROCK TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024**
|**Note**
**Unrestricted**
**funds**
**£**
**Income and Endowments from:**
Donations and legacies
2
808,299
Charitable activities
3
20,445
Investment income
244
Other income
4
39,627
Total income
868,615
**Expenditure on:**
Charitable activities
5
859,069
Total expenditure
859,069
Net
income/(expenditure)
9,546
Net movement in funds
9,546
**Reconciliation of funds**
Total funds brought
forward
1,405,830
Total funds carried
forward
12
1,415,376|**Restricted**
**funds**
**£**
16,481
-
-
-
16,481
16,481
16,481
-
-
-
-|**Total**
**2024**
**£**
824,780
20,445
244
39,627
885,096
875,550
875,550
9,546
9,546
1,405,830
1,415,376|**Total**
**2023**
**£**
782,692
14,517
-
32,202|
|---|---|---|---|
||||829,411|
||||847,548|
||||847,548|
||||(18,137)|
||||(18,137)
1,423,967|
||||1,405,830|
The notes on pages 10 to 17 form an integral part of these financial statements. Page 7
## **LIVING ROCK TRUST**
## **BALANCE SHEET AS AT 31 MARCH 2024**
|**Note**
**Fixed assets**
Tangible assets
8
**Current assets**
Debtors
9
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
10
**Net current assets**
**Net assets**
**Funds of the charity:**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
12|**2024**
**£**
948,407
948,407
9,368
459,763
469,131
(2,162)
466,969
1,415,376
1,415,376
1,415,376|**2023**
**£**
988,340|
|---|---|---|
|||988,340|
|||9,760
409,892|
|||419,652
(2,162)|
|||417,490|
|||1,405,830|
|||1,405,830|
|||1,405,830|
The financial statements on pages 7 to 17 were approved by the Trustees, and authorised for issue on 15 January 2025 and signed on their behalf by:
......................................... Richard Knapp Trustee
The notes on pages 10 to 17 form an integral part of these financial statements. Page 8
## **LIVING ROCK TRUST**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024**
|**Note**
**Cash flows from operating activities**
Net cash income/(expenditure)
**Adjustments to cash flows from non-cash items**
Depreciation
Investment income
**Working capital adjustments**
Decrease in debtors
9
Increase in creditors
10
Net cash flows from operating activities
**Cash flows from investing activities**
Interest receivable and similar income
Purchase of tangible fixed assets
8
Net cash flows from investing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at 1 April
Cash and cash equivalents at 31 March
**Reconciliation of net cash flow to movement in net**
**funds**
Increase/(decrease) in cash
Net funds at 1 April 2023
Net funds at 31 March 2024|**2024**
**£**
9,546
58,830
(244)
68,132
392
-
68,524
244
(18,897)
(18,653)
49,871
409,892
459,763
49,871
409,892
459,763|**2023**
**£**
(18,137)
54,942
-|
|---|---|---|
|||36,805
869
1|
|||37,675|
|||-
(45,030)|
|||(45,030)|
|||(7,355)
417,247|
|||409,892|
|||(7,355)
417,247|
|||409,892|
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 10 to 17 form an integral part of these financial statements. Page 9
## **LIVING ROCK TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
Living Rock Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
## **Going concern**
The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
## _**Grants receivable**_
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
## _**Gift aid**_
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
## _**Interest receivable**_
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Page 10
## **LIVING ROCK TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)**
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets costing £750 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
|**Asset class**|**Depreciation method and rate**|
|---|---|
|Land and buildings|2% on a straight line basis|
|Fixtures and fittings|33.33% on a straight line basis|
|Computer equipment|33.33% on a straight line basis|
|Building improvements|10% on a straight line basis|
## **Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 11
## **LIVING ROCK TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)**
## **Liabilities**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the Trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **Pensions and other post retirement obligations**
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
## **2 Income from donations and legacies**
|Donations and legacies;
Donations
Gift aid reclaimed
Grants, including capital
grants;
Grants from other charities|**Unrestricted**
**funds**
**General**
**£**
675,093
117,473
15,733
808,299|**Restricted**
**funds**
**£**
16,481
-
-
16,481|**Total**
**2024**
**£**
691,574
117,473
15,733
824,780|**Total**
**2023**
**£**
678,129
104,563
-|
|---|---|---|---|---|
|||||782,692|
Page 12
## **LIVING ROCK TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)**
## **3 Income from charitable activities**
|**Unrestricted**
**funds**
**General**
**£**
Events and outreach
20,445
**4 Other income**
**Unrestricted**
**funds**
**General**
**£**
Other incoming resources
39,627
**5 Expenditure on charitable activities**
**Unrestricted**
**funds**
**Note**
**General**
**£**
Ministry support
346,161
Training
1,356
Meeting expenses
51,141
Other gifts
74,148
Building expenses
37,078
Administration
42,801
Legal and
professional
3,006
Independent
examination
2,160
Depreciation
48,737
Staff costs
7
252,481
859,069|**Restricted**
**funds**
**£**
-
**Restricted**
**funds**
**£**
-
**Restricted**
**funds**
**£**
-
-
-
6,388
-
-
-
-
10,093
-
16,481|**Total**
**2024**
**£**
20,445
**Total**
**2024**
**£**
39,627
**Total**
**2024**
**£**
346,161
1,356
51,141
80,536
37,078
42,801
3,006
2,160
58,830
252,481
875,550|**Total**
**2023**
**£**
14,517|
|---|---|---|---|
||||**Total**
**2023**
**£**
32,202|
||||**Total**
**2023**
**£**
332,010
2,318
47,021
95,805
24,386
42,915
1,314
2,160
54,943
244,676|
||||847,548|
Page 13
## **LIVING ROCK TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)**
## **6 Trustees remuneration and expenses**
During the year the charity made the following transactions with Trustees:
## **Christopher Alton**
Christopher Alton received ministry support payments of £13,651 (2023: £13,651) during the year.
No Trustees have received any reimbursed expenses or any other benefits from the charity during the year.
## **7 Staff costs**
The aggregate payroll costs were as follows:
|**Staff costs during the year were:**
Wages and salaries
Social security costs
Pension costs|**2024**
**£**
233,440
14,236
4,805
252,481|**2023**
**£**
224,974
14,930
4,772|
|---|---|---|
|||244,676|
The number of persons (including senior management team) employed by the charity during the year was as follows:
|during the year was as follows:|||||
|---|---|---|---|---|
||**2024**||**2023**||
||**No**||**No**||
|Staff||11||11|
No employee received emoluments of more than £60,000 during the year
Page 14
## **LIVING ROCK TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)**
## **8 Tangible fixed assets**
|**8 Tangible fixed assets**||||||
|---|---|---|---|---|---|
|**Land and**
**buildings**
**£**
**Furniture**
**and**
**fixtures**
**£**
**Computer**
**equipment**
**£**
**Cost**
At 1 April 2023
1,375,167
99,815
79,931
Additions
-
2,735
16,162
At 31 March
2024
1,375,167
102,550
96,093
**Depreciation**
At 1 April 2023
469,651
89,742
66,031
Charge for the
year
27,503
5,950
17,688
At 31 March
2024
497,154
95,692
83,719
**Net book value**
At 31 March
2024
878,013
6,858
12,374
At 31 March
2023
905,516
10,073
13,900
**9 Debtors**
Accrued income
Other debtors
**10 Creditors: amounts falling due within one year**
Accruals|**Computer**
**equipment**
**£**
79,931
16,162|**Building**
**improvements**
**£**
**Total**
**£**
76,894 1,631,807
-
18,897
76,894
1,650,704
18,043
643,467
7,689
58,830
25,732
702,297
51,162
948,407
58,851
988,340
**2024**
**£**
**2023**
**£**
9,368
9,730
-
30
9,368
9,760
**2024**
**£**
**2023**
**£**
2,162
2,162||||
||96,093||76,894|||
||66,031
17,688||18,043
7,689|||
||83,719||25,732|||
||12,374||51,162|||
||13,900||58,851|||
||||**2024**
**£**
9,368
-
9,368
**2024**
**£**
2,162|||
||||||9,760|
||||||**2023**
**£**
2,162|
Page 15
## **LIVING ROCK TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)**
## **11 Pension and other schemes Defined contribution pension scheme**
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to - £4,805 (2023 £4,772).
## **12 Funds**
|**Unrestricted funds**
**_General_**
General Funds
**Restricted funds**
Building fund
Acts 4:34 fund
Zambia housing
Specific offerings
**Total funds**
**Unrestricted funds**
**_General_**
General Funds
**Restricted funds**
Acts 4:34 fund
Specific offerings
**Total funds**|**Balance at**
**1 April**
**2023**
**£**
1,405,830
-
-
-
-
-
1,405,830
**Balance at**
**1 April**
**2022**
**£**
1,422,035
1,932
-
1,932
1,423,967|**Incoming**
**resources**
**£**
868,615
10,093
1,220
63
5,105
16,481
885,096
**Incoming**
**resources**
**£**
809,329
-
20,082
20,082
829,411|**Resources**
**expended**
**£**
(859,069)
(10,093)
(1,220)
(63)
(5,105)
(16,481)
(875,550)
**Resources**
**expended**
**£**
(825,534)
(1,932)
(20,082)
(22,014)
(847,548)|**Balance at**
**31 March**
**2024**
**£**
1,415,376
-
-
-
-|
|---|---|---|---|---|
|||||-|
|||||1,415,376|
|||||**Balance at**
**31 March**
**2023**
**£**
1,405,830
-
-|
|||||-|
|||||1,405,830|
Page 16
## **LIVING ROCK TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)**
## **13 Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**General**
**£**
948,407
469,131
(2,162)
1,415,376
**Unrestricted**
**funds**
**General**
**£**
988,340
419,652
(2,162)
1,405,830|**Restricted**
**funds**
**£**
-
-
-
-
**Restricted**
**funds**
**£**
-
-
-
-|**Total funds**
**at 31**
**March**
**2024**
**£**
948,407
469,131
(2,162)|
|---|---|---|---|
||||1,415,376|
||||**Total funds**
**at 31**
**March**
**2023**
**£**
988,340
419,652
(2,162)|
||||1,405,830|
Page 17