REGISTERED COMPANY NUMBER: 4282455 (England and Wales) REGISTERED CHARITY NUMBER: 1090420
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR THE BOSTON WOODS TRUST
Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE21 6NA
THE BOSTON WOODS TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 13 |
| Detailed Statement of Financial Activities | 14 to 15 |
THE BOSTON WOODS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions 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) (effective 1 January 2015).
The company was incorporated on 6 September 2001 and registered as a charity on 4 February 2002.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity is constituted as a company limited by guarantee, and is therefore governed by a Memorandum and Articles of Association.
The company is a registered charity with the principal aim of developing, and thereafter maintaining, a sweeping woodland recreational area to the north, west and south of Boston in Lincolnshire.
We have referred to the guidance contained in the Charit our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
The object of the company as defined in its Memorandum and Articles of Association is to promote the conservation, preservation, improvement and maintenance of woodlands in the area of Boston, Lincolnshire and its surroundings by the planting, conservation of, restoration of and re-establishment of trees and in particular broad-leaved trees and plants and also encourage all forms of wildlife and thereby to secure and enhance the enjoyment by the public of the natural environment of those territories.
Activities and achievements
Woods main
Nature Reserve with hedging on the north boundary and seats and information boards installed along the paths. Thinning at Westgate and Beech Wood, partially necessitated by Hymenoscyphus fraxineus, has produced wood for sale and mulch for Aveland Tree Nursery. The Right Revd. Christopher Lowson, Bishop of Lincoln, has been invited to become a Patron.
Volunteers
The volunteers are the trustees and they give as much time as required to run the charity.
FINANCIAL REVIEW
Financial position
Woods maintenance expenditure is being controlled by greater volunteer activity following equipment training. £2,300 was generated by the sale of felled trees. Seventeen ash internments/burials or plot reservations were recorded in the Year for the Green Burial site.
Reserves policy
The charity has total reserves of £836,429 at 31 March 2024 of which restricted reserves amount to £7,796 and general reserves amount to £828,633, which includes £524,986 of land held by the charity. The present level of reserves is considered adequate, although further land acquisitions will require further funds.
FUTURE PLANS
We are continuing to monitor the land availability within our strategic area.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The Memorandum and Articles of Association were amended by special resolution and registered at Companies House on 7 February 2017.
Page 1
THE BOSTON WOODS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure
The directors are the members and are also trustees.
Appointment of Trustees
Suitable candidates are proposed at the quarterly trustees meetings. In addition there are representatives from Lincolnshire County Council, Boston Borough Council, RSPB and Lincs Wildlife Trust.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 4282455 (England and Wales)
Registered Charity number 1090420
Registered office
Fydell House South Square Boston Lincolnshire PE21 6HU
Trustees
A B Isaac G Danby Dr C Elwood S P Elwood J B Debnam (Resigned 05/03/2024) I Nixon Mrs F Brooks Mr D Stockings (Appointed 08/01/2024)
Company Secretary
J B Debnam (Resigned 05/03/2024) Mrs F Brooks (Appointed 05/03/2024)
Independent examiner Nicola Lenton FCCA Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE21 6NA
Page 2
THE BOSTON WOODS TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Statement of trustees' responsibilities
The trustees are required by law to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity and of its financial position at the end of that year. In preparing those financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether the policies adopted are in accordance with the Companies Act 2006 and with applicable
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accounting standards and statements of recommended practices, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 7 October 2024 and signed on its behalf by:
A B Isaac - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BOSTON WOODS TRUST
I report on the accounts for the year ended 31 March 2024 set out on pages five to fifteen.
Responsibilities and basis of report
As
law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your ou examination, I have followed the Directions given by the Charity Commission (under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:
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accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
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the accounts do not accord with such records; or
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the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 er considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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.
NICOLA LENTON FCCA
Independent Examiner
Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE21 6NA
7 October 2024
Page 4
THE BOSTON WOODS TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
| Note INCOME AND ENDOWMENTS FROM Donations and legacies 2 Other trading activities 3 Investment Income 4 Fundraising Income 5 Total EXPENDITURE ON Raising funds 6 Charitable activities Woodland development and maintenance 7 Other 8 Total NET (EXPENDITURE)/INCOME Transfers between funds Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Un restricted Fund £ 71,493 20,597 2,603 107 94,800 1,167 28,714 61,602 91,483 3,317 113,671 116,988 711,645 828,633 |
Restricted Fund £ 112,554 - - - 112,554 - 3,848 - 3,848 108,706 (113,671) (4,965) 12,761 7,796 |
2024 Total Funds £ 184,047 20,597 2,603 107 207,354 1,167 32,562 61,602 95,331 112,023 - 112,023 724,406 836,429 |
2023 Total Funds £ 31,458 7,694 250 232 |
|---|---|---|---|---|
| 39,634 801 45,042 59,073 |
||||
| 104,916 | ||||
| (65,282) - |
||||
| (65,282) 789,688 |
||||
| 724,406 |
The notes form part of these financial statements
Page 5
THE BOSTON WOODS TRUST REGISTERED CHARITY NUMBER (1090420)
BALANCE SHEET AT 31 MARCH 2024
| Note FIXED ASSETS Tangible assets 11 CURRENT ASSETS Debtors 12 Cash at bank CREDITORS Amounts falling due within one year 13 NET CURRENT ASSETS/(LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS |
Un Restricted Fund £ 530,588 501 298,519 299,020 (975) 298,045 828,633 828,633 |
Restricted Fund £ - - 7,796 7,796 - 7,796 7,796 7,796 |
2024 Total Funds £ 530,588 501 306,315 306,816 (975) 305,841 836,429 836,429 828,633 7,796 836,429 |
2023 Total Funds £ 587,543 |
|---|---|---|---|---|
| 434 137,359 |
||||
| 137,793 (930) |
||||
| 136,863 | ||||
| 724,406 | ||||
| 724,406 | ||||
| 711,645 12,761 |
||||
| 724,406 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and in accordance with FRS102 SORP.
The financial statements were approved by the Board of Trustees on 7 October 2024 and were signed on its behalf by:
A B Isaac -Trustee
The notes form part of these financial statements
Page 6
THE BOSTON WOODS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Incoming resources
All income is recognised in the Statement of Financial Activities when the conditions for receipt have been met and there is reasonable assurance of receipt. Where a claim for repayment of income has or will be made, such income is grossed for the tax recoverable.
Grants are recognised in the Statement of Financial Activities when the conditions for receipt have been met.
Donations are reported gross and are accounted for on a receivable basis.
Donated goods are accounted for on a receivable basis, they are included in income and expenditure.
Donated assets are given a value based on the best estimate of the market value of the asset and shown as a donation in the year.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Fixed assets and depreciation
Fixed assets are stated at cost. Depreciation is not charged on freehold land.
The pathways have been depreciated straight line over 5 years.
The costs incurred on leasehold land have been written down to a nominal value £1.
All costs of land preparation, tree planting, seeding etc are written off to revenue as incurred.
Plant and Machinery, Fixtures and Fittings and capital office Equipment are depreciated at 25% reducing balance over their estimated useful lives.
Page 7
THE BOSTON WOODS TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024
2. DONATION AND LEGACIES UNRESTRICTED
| Donations Donations of Goods Gift aid Grants Adopt a Tree Subscriptions Grants received, included in the above are as follows: RPA Woodland Improvement RPA English Woodland Scheme RPA Woodland Creation Postcode Lottery South and East Lincolnshire Community Lottery DONATIONS AND LEGACIES RESTRICTED Donations Forestry Commission National Grid Community Matters The above restricted donations and legacies are made up as follows: For Trees For Dion s Wood Barn Forestry Commission Annual Maintenance Forestry Commission Dion s Wood Nature Reserve National Grid Community Matters |
2024 £ 35,630 - 4,473 26,796 - 4,594 71,493 2024 £ - 471 1,222 25,000 103 26,796 2024 £ 2,500 106,292 3,762 112,554 2024 £ - 2,500 3,259 103,033 3,762 112,554 |
2023 £ 17,229 - 1,971 2,349 - 3,909 |
|---|---|---|
| 25,458 | ||
| 2023 £ 680 - 1,383 - 286 |
||
| 2,349 | ||
| 2023 £ 6,000 - |
||
| - | ||
| 6,000 | ||
| 2023 £ 6,000 - - - - |
||
| 6,000 |
Page 8
THE BOSTON WOODS TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024
3. OTHER TRADING ACTIVITIES
| Miscellaneous sales Sale of wood Rent Burial site income Sale of clothing Insurance Claim 4. INVESTMENT INCOME Deposit account interest 5. FUNDRAISING INCOME Sale of Christmas Cards 6. RAISING FUNDS Raising Donations and legacies Insurance Postage and stationery Sundries Lease re Westgate Woods Christmas Cards Clothing 7. CHARITABLE ACITIVITIES COSTS - UNRESTRICTED Planting, maintenance and drainage Seating and plaques Signs Professional Fees Independent examination Donations |
2024 £ 340 2,300 1,213 16,350 394 - 20,597 2024 £ 2,603 2024 £ 107 107 2024 £ 422 171 13 - - 561 1,167 2024 £ 26,166 122 1,426 - 975 25 28,714 |
2023 £ 341 701 1,213 5,100 214 125 |
|---|---|---|
| 7,694 | ||
| 2023 £ 250 |
||
| 2023 £ 232 |
||
| 232 | ||
| 2023 £ 394 119 13 10 - 265 |
||
| 801 | ||
| 2023 £ 15,009 584 - 276 930 25 |
||
| 16,824 |
Page 9
THE BOSTON WOODS TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024
7. CHARITABLE ACITIVITIES COSTS - RESTRICTED
| Planting, maintenance and drainage Seating and plaques Woodland carvings Training 8. OTHER EXPENDITURE Depreciation owned assets Burial site costs |
2024 £ 3,114 - - 734 3,848 2024 £ 58,327 3,275 61,602 |
2023 £ 28,218 - - - |
|---|---|---|
| 28,218 | ||
| 2023 £ 58,638 435 |
||
| 59,073 |
9.
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024, nor for the year ended 31 March 2023.
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities Investment income Fundraising income Total EXPENDITURE ON Raising funds Charitable activities Woodland development and maintenance Other Depreciation Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward Movement between funds TOTAL FUNDS CARRIED FORWARD |
Unrestricted Fund £ 25,458 7,694 250 232 33,634 801 16,824 59,073 76,698 (43,064) 684,319 70,390 711,645 |
Restricted Fund £ 6,000 - - - 6,000 - 28,218 - 28,218 (22,218) 105,369 (70,390) 12,761 |
Total Funds £ 31,458 7,694 250 232 |
|---|---|---|---|
| 39,634 | |||
| 801 45,042 59,073 |
|||
| 104,916 | |||
| (65,282) | |||
| 789,688 - |
|||
| 724,406 |
Page 10
THE BOSTON WOODS TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024
11. TANGIBLE FIXED ASSETS
| COST At 1 April 2023 Additions At 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year At 31 March 2024 NET BOOK VALUE At 31 March 2023 At 31 March 2024 |
FIXTURES AND FITTINGS £ 6,314 - 6,314 4,816 374 5190 1,498 1,124 |
PLANT AND MACHINERY £ 14,734 - 14,734 9,042 1,423 10,465 5,692 4,269 |
FREEHOLD PROPERTY £ 1,003,006 1,093 1,004,099 422,653 56,460 479,113 580,353 524,986 |
LONG LEASEHOLD £ 456 - |
|---|---|---|---|---|
| 456 | ||||
| 456 - |
||||
| 456 | ||||
| - | ||||
| - |
| COST At 1 April 2023 Additions At 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year At 31 March 2024 NET BOOK VALUE At 31 March 2023 At 31 March 2024 |
OFFICE EQUIPMENT £ - 279 279 - 70 70 - 209 |
TOTALS £ 1,024,510 1,372 |
|---|---|---|
| 1,025,882 | ||
| 436,967 58,327 |
||
| 495,294 | ||
| 587,543 | ||
| 530,588 |
Page 11
THE BOSTON WOODS TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024
At the balance sheet date, the Charity held 6 separate land parcels, located at Fenside Road, Boston and Wyberton, Boston. All areas of land are freehold except for the 8.9 acres at Fenside Road, which is held under a 99 year lease on a peppercorn rent from Boston Borough Council and 23.5 acres at Wyberton, Boston leased from The Woodland Trust.
| 27.44 acres at Wyberton, Boston 16.165 acres at Wyberton, Boston 12.203 acres at Fenside, Boston West 8.9 acres at Fenside, Boston West 23.5 acres at Wyberton, Boston 6.25 Acres, Wyberton 3.9 Acres, Wyberton 10.14 acres at Fenside, Boston Pathways 2016 year end Pathways 2017 year end Pathways 2018 year end Pathways 2020 year end Pathways 2021 year end Pathways 2022 year end Pathways 2023 year end Ponds 2022 year end 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Trade debtors 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors |
£ 140,224 93,540 57,490 - Leasehold - Leasehold 19,181 22,634 104,698 200,840 46,147 31,721 98,400 5,324 85,026 66,106 31,675 1,003,006 2024 2023 £ £ 269 134 232 300 501 434 2024 2023 £ £ 975 930 |
£ 140,224 93,540 57,490 - Leasehold - Leasehold 19,181 22,634 104,698 200,840 46,147 31,721 98,400 5,324 85,026 66,106 31,675 1,003,006 2024 2023 £ £ 269 134 232 300 501 434 2024 2023 £ £ 975 930 |
|
|---|---|---|---|
| 2023 £ 930 |
Page 12
THE BOSTON WOODS TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024
14. MOVEMENT IN FUNDS
| Unrestricted funds General funds Restricted funds Restricted TOTAL FUNDS |
At 1.4.23 £ 711,645 12,761 724,406 |
Net movement in funds £ 3,317 108,706 112,023 |
Transfers between funds £ 113,671 (113,671) - |
At 31.3.24 £ 828,633 7,796 |
|---|---|---|---|---|
| 836,429 |
Net movement in funds, included in the above are as follows:
| Unrestricted funds General funds Restricted funds Restricted TOTAL FUNDS |
Incoming Resources £ 94,800 112,554 207,354 |
Resources Expended £ 91,483 3,848 95,331 |
Movement in funds £ 3,317 108,706 |
|---|---|---|---|
| 112,023 |
Restricted funds are donations that have been received for a specific purpose, mainly for the purchase of new land parcels, spinneys and maintenance.
15. RELATED PARTY DISCLOSURES
During the year there were no loans made from directors to the company.
16. LEGACIES
In an irrevocable deed of agreement dated 19 March 2021 between The Boston Woods Trust Limited and Mr C Dion 13.88Ha of land shall be bequeathed to The Boston Woods Trust and will be hereafter known as . The trust shall at its own cost apply for planning permission to create woodland and wildflower meadows together with a lake and car parking.
Page 13
THE BOSTON WOODS TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Grants Adopt a Tree Subscriptions Other trading activities Miscellaneous sales Sale of wood Rent Burial site income Sale of clothing Insurance Claim Investment income Deposit account interest Fundraising income Summer event Sale of Christmas cards Total incoming resources EXPENDITURE Raising donations and legacies Insurance Postage and stationery Sundries Christmas Cards Clothing Lease re Westgate Woods Charitable activities Planting, maintenance and drainage Seating Signs Independent examination fees Professional fees Donations Training |
2024 £ 38,130 4,473 136,850 - 4,594 184,047 340 2,300 1,213 16,350 394 - 20,597 2,603 - 107 207,354 422 171 13 - 561 - 1,167 29,280 122 1,426 975 - 25 734 32,562 |
2023 £ 23,229 1,971 2,349 - 3,909 |
|---|---|---|
| 31,458 341 701 1,213 5,100 214 125 |
||
| 7,694 250 - 232 |
||
| 39,634 | ||
| 394 119 13 - 265 10 |
||
| 801 43,227 584 - 930 276 25 - |
||
| 45,042 |
This page does not form part of the statutory accounts
Page 14
THE BOSTON WOODS TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024
| Other Depreciation of tangible fixed assets Burial site costs Total resources expended Net (expenditure)/income |
2024 £ 58,327 3,275 61,602 95,331 112,023 |
2023 £ 58,638 435 |
|---|---|---|
| 59,073 104,916 |
||
| (65,282) |
This page does not form part of the statutory accounts
Page 15