Charity registratlon number 1090915 Company registratlon number 4118813 (England and Wole•) GATE TRUST LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
GATE TRUST LIMITED CONTENTS Page Trustees, report Statement of trustees, responsibililies Independent examinerfs report Statement of financial actiVitS Balance sheet Notes lo the financial statements 9-17
GATE TRUST LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 Marth 2024. The finanoal statements have been prepared in accordance with the aco)unting policies set out in note 1 to the finanoal statements and comply with the tharity's governing d0ment the Companies A¢t 21Th and "Accounting and Reporting by Charities.. Statement of Recommended Practice appluble to Gharities pParIng their accounts in accordance wtth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". Objectlves and actlvities The obpcts of the charity, as set out in the Memrandum and Artides of Association. are.. The provision of, or assIstsn in the provision of facilities in the interests of Sla1 welfare for recreation or other leisure time occupatton, eilher for the benefit of the general public or for the benefit of those who reason of their youth, age, infimity or disablement, ethniiity, poverty Of social and economic circumstances, have a need of such faolities. The advancement of education of the public and promotion of the arts. in particular, but not exdusively. by the training of performers and the gmng of public perfi)miances. Ensuring our work delivers Gate Trusvs aims, for the public benefit The trustees are aware of their duty to run the d*rty for the public benefft and are aware of Charity Commission's guidan on public benefit. As a charity, V regularty review our aims, objectives and activities. In the review process, we hjok at what we have achieved in the last period, the SU8$ of each project, and the beneffts that Ihey have brought to the groups of people they were set up to help. The also helps to ensure our aims. objectives and future projects continue to be in line with our slated purposes of existence. and cognizant of the gUTrdan contained in the Charity Commission's general guidance on public benefft. Achlevements and perfomiance The Gate Trust is carefully considering how it will use the funds from the sale of the Gate Arts Centre to continue to fulfil the tharitable objects of the Trust. During the period, grants totalling £20,000 were awarded. Flnancial revlew Results The charity generated an unrestricted surplus (exduding profft on the sale of the building and k>sses on investments) during the year of £4.724 {2023'. deficat £26.002). Finances The overall financial picture has improved. Reserves Policy The directors have established a policy whereby the unrestridèd funds. not committed or invostod in tangible fixed assets (the Yree reserves,? held by the tharity, will be invested in appropriate external funds. Unrestricted fund balanos carried ftjrward at the year-end were £820,344 (2023: £799,768). Restricted fund balances carried forward at the year-end were £nil (2023.. £nil). Free reserves totalled £820,344 (2023: £799.768). Investment Policy The directors have considered that cash funds should be deposited in low risk high interest eaming deposits or medium risk mixed purpose investments deposits vthich fulfil our tharitsble objects. Princlpal Risks and Uncertainties The prinopal risks are those of investnt.
GATE TRUST LIMITED TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Plan8 for future periods Trust has invested the funds from the sale of the Centre into secure high interest eaming accounts to keep up with inflation. while further carefully considering fiJture strategy that would fu1 the charitable objeds of the Gate Trust over the coming years. Trustees agreed not to become a general granl-making provider. The trustees are carefully considering the ongoing strategic goals of the Trust and potentral significant Strateg development partners to fulfil the charttable objeGts. Structure, govemance and management Goveming Document The charity is a charitable company limited by guarantee. incorporated on 1 December 20W and registered as a chatity on 4 March 2002. The charity is govemed by tts Memorandum and Artides ofAssociation. Trading Names The trust has operated under a number of trading names: Yhe Gate". Yhe Gate Arts and Community Centre. Gale Trust Limited is based at the Glenwood Church Centre in the Llanedeym ward of Cardiff. Wales, from 1 st August 2022. Board of Trustees The directors of the charitable company fthe charity) are ils trustees for the purposes of charity law. and throughout this report a collectively referred to as the trustees. The trustees meet at least once a year as a full group. Trustees have been chosen based on thwr professional expertise and commitment to the trust's vision and ils charitable objects. continually darifying the strategy and direction of The Gate Trust to futfil its charitable objects. Decision Making The Trustees have made the decisions about strategy and direction Remuneration There are no paid members of staff. Trustee Inductlon New trustees undergo appropriate induction to brief them on their legal OlgationS under charity law. the content of the Trust Deed and the committee and decision-making process. Trustees are encouraged to attend extemal training events, where these will be of benefit to their role. Related Parties Gate Trust has worked closely with Glenwood Churth (registered tharity 1125128). There are some individuals who act as trustees on both of these charities. Gate Trust shares some office facilities of Glenwood Church (photocopier etc). All transactions between the organisations are dealt wilh propedy. with appropnate invoiong taking pla belween them.
GATE TRUST LIMITED TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Rof•rence and adminl•trative detall• Chartty name: Gate Tfust Limited Other name¥: The Gate The Gate Arts and Communty Centre Charfty reglstratlon number. 1090915 Company roglstration number. 4118613 Reglstered offi. The Gate Keppoth Street Cardiff CF24 3JW Tru8tee•: Nonnan Adams John Gallacher Rob Parsons Peter Brooks Robert Scott-Cook- SIgned 29 February 2024 Paul Francis Robin Vincent Tru•t accountant: Paul Bumell Independent examlnern". Azets Audit SeThices Ty Derw Lime Tree Court Cardiff Gate Business Pa Cardiff CF23 8AB Bankorn.. The Ctroperative Bank 8usiness Customer Services PO Box 250 Skelmersdale V¥Tr18 8wr 8oll¢ltorn: Loosemoores Soli&tors Allhqn¢e House 18119 High Slreet Cardiff CF10 1PT
GATE TRUST LIMITED TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The es, port was approved by the Board of Trustees. Peter 8rook8 . Tru$t•• Dated..
GATE TRUST LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees. who are also the diredors of Gate Trust Limtted for the purpose of company law, are responsible for preparing the Trustees, Report and the financial ststements in accordance with applicable law and United Kingdom Accounting Stsndards (Untted Kingdom Generally ApIed A{untIng Practi). Company Law requires the trustees to prepare financial ststements for eath financkil year whith give a true and fair view of the state of affairs of the charity and of the incoming resources and appli¢3tion of resources. induding the income and expenditure. of the charitable company for that year. In preparing these financial statements. the trustees are required to: - select suitable accounting polici8s and then appty them o)nsistently: - obser¥8 the methods and principles in the Charities SORP.. - make judgements and estimates that are reasonable and prudent: and - prepare the financial statements on the going c¢)ncem basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disdose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the chartty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Iruslees are responsible for the maintenance and integrity of the charity and finanoal infomation included on the tharity's website. Legislation in the United Kingdom goveming the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
GATE TRUST LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GATE TRUST LIMITED I report to the trustees on my examinati1 of the financial ststements of Gate Trust Limited (the charity) for the year ended 31 Marth 2024. Responsibilities and basis of report As the trustees of the charity land also tts directors for the purposes of company lawl you are responsible for the preparation of the finanaal statements in accordan with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself ihat the finanaal statements of the charity are not required to be audited under Part 16 of the 20C6 Act and are eligible for independent examination. I report in respect of my examination of the charity's financial statements carrTred out under section 145 of the Charities Act 2011 (the 2011 Act). In carying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5>(b) of the 2011 Act. Independent examIneS statement I have completed my examination. I confirm that no Tnatters have come to my attention in connection with the examination giving me cause to believe that in any material respecl.. accounting records were not kept in respect of the charity as required ty section 386 of the 2006 Act., or the finanaal statements do not accord with those records: or the finanoal statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view whith is not a matter considered as Part of an independent examination.. or the financial statements have not been prepared in accordance wtlh the melhods and Pfinciples of the Stalement of Recommended Practice for accounling and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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 financial slalements lo be reached. Azths AIJ'F Craig Yearsley FCCA Azets Audit Services Ty Derw, Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB United Kingdom 17 t*cember 2024 Dated..
GATE TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrl¢t•d Unre8tr1cted fund$ fund• 2024 2023 Donations and legacies Charitable a(#1V8$ Investments Other income 49,005 14,024 279,532 29.492 4,380 Total Income 33,872 343.047 Charitable actNiti8$ 24,768 89,517 Nei gainsl(losses) on investments 12 11.473 (939) Net in¢ome for tho yurl Net movemènt In funds 20.577 252,591 Fund balances at 1 April 2023 799,767 547,177 Fund balances at 31 March 2024 820,344 799,768 The statement of finanaal activities indudes dl gains and losses recognised in the year. All income and expenditure derive from 3ntInuIng activities. The statement of financial activi$ also complies with the requirements for an income and expenditure account under the Companies Act 2006.
GATE TRUST LIMITED BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Fixed assots Investments 13 351,715 335,341 Current assets Debtors falling due after one year Debtors falling due within one year Cash at bank and in hand 14 14 e6.397 14,286 3.428 78,571 14,286 374.126 471,111 466,983 Creditors.. amounts falling due within one year 15 (2.482) (2,556) Net current assets 468,629 464,427 Totsl assets less current liabilities 820,344 799,768 Income funds Unrestricted funds 820.344 799.768 820.344 799.768 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Ad and for preparing financial statements which give a true and fa view of the state of affairs of the company as at the end of the ffinanoal year and of ils incoming resources and applicaion of reSoUrs, including its income and expenditure, for the finanaal year in accordan with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to finanaal statements, so far as applicable to the company. The members have not required the company to obtsin an audit of its financial stalements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. Thefi 13-Iz-z I statementswere approved by theTrusleeson........................ Peter Brooks Trustee Company registratlon number 4118613
GATE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity inforniation Gate Trust Limited is a private company limited by guarantee incorForated in England and Vvales. The registered office is The Gate, Keppoch Street, Card5ff. CF24 3JW. 1.1 Accounting convention The finanual statements have been prepared in accordance with the charity's goveming document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effedive 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for tharities applying FRS 102 UpdaÈ Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling. which is the functional currency of the tharity. Monetary amounts in these financial statements are rounded to the nearest £. The financtal sktements have been prepared under ttle historical cost convention modrfied to inCle certain financial instruments at fair value. The principal accounting policies adopted afe set t)ut below. 1.2 Going concem At the time of approving the finanaal statements. the trustees have a reasonable expectatK)n that the charity has adequale resources to continue in operational existence for the foreseeable future. Thus the trLtstees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charftsble funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable obj'ectives. Designated funds comprise funds whith have been set aside at the disrxetion of tt)e trustees for specific purposes. The purposes and uses of the designated fijnds are set out in the notes to the financial statements. Restricted ftjnds are subject to specific conditions by donors as to how they may be used. The purpjses and uses of the restricted funds are set out in the notes to the financial statements. 1.4 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 il is probable that income will be received. Cash donations are rets)gnised on receipt. Other donations are recognised once the charity has been notffied of the donation. unless perfOnan conditions require deferral of the amount. Income lax recoverable in relation to donations received under GfftAld or deeds of covenant Is recognised at the time of the donation. Cafe bar income. dass income and event and presentatFon income is recognised when the sale takes place or when the service is provided. Rental income is invoiced and induded in the period to which the rental took place. Any amounts received in advance of the sep11 provided is deferred in the financial statements. Grants are only induded in the accounts when the general income recognition criteria is met. In the case of performan related grants, income must only be recognised to the extent that the tharity has provided the specified goods or services as entitlement to the grant only occurs when the PerfOnnan related coThJitions are met.
GATE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) Interest income is included in the accounts when receipt is probable and the amount receivable Can be measured reliably. The value of any voluntary help reiVed is not induded in the accounts but is described in the trustees, annual report. 1.5 Expenditure Expenditure is recognised once there is a legal or construdNe obligation to make a payment to a third paty. it is probable that settlement will be required and the amount of the obligation can be measured reliably. Costs of raising funds comprise the costs in relation to generating income such as fundraising activities. Expenditure on charitable adiviiies indudes all costs relating to the furtheran of the tharitys objectives as stated in the trustees report and their assocTrated support costs. Irrecoverable VAT is charged as a cost against the activty for which the expenditure was incurred. Support costs have been allocated between govemance costs and other support. G0Veman costs comprise all costs involving public accountabilty of the charity and its compliance with regulation and good practiGe. Support costs indude cenlral fvnctions and have been allocated to activity Cost Categories on a tgsis consistent wilh the use of resources. 1.6 Fixed asset investments Fixed asset investments are initially measured at transaclyon pite exduding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel{expenditure) for the year. Transaction costs are expensed as inojrred. 1.7 Cash and cash equivalents Cash and cash equivalents indude cash in hand. deposits held at call with banks, other short-temi liquid investments with ortginal maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Financial instruments The charity has elected to appty the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other FinancÉal Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the thaws balan sheet when the charty becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts pre¥ented in the financbal statement8. when there is a legally enforceable right to set off the recognised amounts and there is an intention to setue on a nel basis or to alIse the asset and settle the liability simuRaneousty. Basic financial assets Basic financial assets, which indude debtors and sh and bank balans, are initially measured at transaction pri induding transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transadion, where the transaction is measured at the present value of the future rIptS discounted at a market rate of interest. Finanaal assets dassified as receÈvable within one year are not amortised. 10-
GATE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles (Continued Derecognition of financlal assets Financial assets are derecognised only when the rnntraclual rights to the cash flows from the asset expire or are settled. or when the charity transfers the finanaal asset and substantially all the risks and rewards of ownership to another entity. or if some sjgnificant risks and rewards of ovmership are relained but conlrol of the asset has transferred to another paty that is able to sell the asset in its entirety to an unrelated third party. 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 al the present value of the futLJre payments discounted at a market rate of interest. Financral liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are cfasstfied as rrent liabililies if payment is due within one year or less. If not. they are presented as non-Cunt liabilities. Trade credrtors are recognised initially at transaction Pri and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Finanoal liabilities are derecognised vthen the chartvs contractual obligations expire or are discharged or cancelled. 1.9 Employee benefits The costs of short-term employee beneffts are recognised as a liabilty and an expense, unless those costs are required to be recognised as part of the c£)st of Sto or fixed assets. The cost of any unused holiday entidement is recognised in the period in which ts employee's seNices are received. Terminab'on benefits are recognised immediatety as an expense when the tharity is demonstrably committed to teminate the employment of an employee or to provide termination benefrts. 1.10 Retirement benefits Payments to defined contribution retirement benefit schemes are tharged as an expense as they fall due. 1.11 Lease8 Rental charges are charged on a straigm line basis ovei the term of the lease. 1.12 Taxation As a registered chartty, Gate Trust Limited is entitted lo the exemption from taxalion in respect of income and capital gains reiVed with sections 47&489 of the Corporalion Tax Act 2010 and stIOn 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are apled to its charitable objects purposes only. Critical accounting estimatss and judgements In the application of the charity's accounting policies. the trustees are required to make judgements, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experien and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimales and underlying assumptions are revievied on an on90ing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects ClY that period, or in the period of the revision and future periods where the revision affects both current and future periods. 11
GATE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Donatlon8 and logaclos Total Unrostrlctod fund• 2024 2023 Donations and gifts Charltable actlvlties 2024 2023 Rooms and faalities hire Events, dasses and presentations 45,886 3,119 49.005 Inv•stm•nt• Unrestrlcted Unrestrfcted funds fund• 2024 2023 Income from unlisted investments Interest recwvable 24.839 4.653 8.280 5,744 29.492 14.024 Other Incom• Unrnstrl¢t•d Unrn$tricted fund• fund• 2024 2023 Nel gain on disposal of tangible fixed assets Other income 279,532 4,380 4.380 279,532 The other income £4,380 relates to VAT redaims in relation to 2021 and 2022. 12-
GATE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 7 Charitable actlvitias 2024 2023 Staff costs Depreciation and impaimient Catering Repairs, renewals and equlpment hire Mafketing Subscriptions Training, sundry and travel expenses 4,998 12 10,302 122 138 386 41,964 Grant funding of activrties {see rle 8) 10.IXIO Share of support costs (see note 9) Share of govemanrA costs (see note 9) 2.368 35,243 2,310 24,768 89,517 Grants payabl• 2024 2023 Grants to institutions: The Salt Trust Glenwood Church 10.000 20,000 20,CK)O 10,000 13-
GATE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Support Governance costs 2024 2023 Basis of allocation Staff costs Bank tharges and loan interest Cleaning Repairs, renewals and equipment hire Light, heat and insuran Legal and professional fees Telephone Printing, postage and stationery Rent and rates 1,084 Direct 440 Dired 1,446 Direct 2,794 Direct 17,912 Direct 9.371 Direct 422 Direct 64 Direct 1,710 Direct 149 2.219 149 2.219 Independent examination fees 2.4LY) 2.310 Govemance 4,768 37,553 Analysed between Charitable activities 4,768 37,553 Governan costs includes payments to the indeFendent examiners of £2.400 (2023 - £2.310) for independent examination fees. 10 Trustees None of the trustees (or any persons ¢onnecled with them) received any remuneration or benefits from the tharty during the year. No trustees were reimbursed for expenses during the rrent or prior year. In the prior year. a trustee provided the charity With an interest free loan of £20,000. The loan was repaid by the charty to the trustee before the year end leaving no amounts outstanding as at 31st March 2023. No transactions with trustees occured in the current year. 14-
GATE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Employe Number of employe•8 The average fflonthly number of ernployees during the year was.. 2024 Number 2023 Numb•r Total staff Employment costs 2024 2023 Wages and salaries Other pension costs 27,090 K•y management personnel The key management personnel of the charity are as detailed in the trustees report. The total employee beneffts (induding gross salary, employers national insurance and employers pension contributions) of the key management personnel of the tharity was £nil {2023.' £r)il). There were no employees whose annual rernuneration was £60.C¥XI or more. 12 Net gaIn{lo$s•S) on Investments Unrnstrlctsd Unrestrlct•d fund• funds 2024 2023 Gainlooss) on sale of investments 11,4n {939) 15-
GATE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Fix•d a$$•t inve•tments Llsted Unli8ted Invostsnents Investments Total Co8t or valuation At 1 April 2023 Valuation changes Accrued interest eaml 1(K1.Ll 11.474 235.280 335,341 11,474 4,900 4,0 At 31 March 2024 111,535 240,180 351,715 Carrylng amount At 31 March 2024 111.535 240,180 351,715 At 31 March 2023 100,061 235,280 335,341 14 Dobtorn 2024 2023 Amounts falllng duo wlthln one year: Other debtors 14,286 14,286 2024 2023 Amounts falllng duo ahr more than on• year: Other debtors 66.397 78,571 Total d¢btorn 80.683 92,857 Upon the Sale of the property during the year the charity issued a loan of £100.000 to Cardiff Vineyard. The loan is for a period of 6 years with interest charged at 3.700/f*. Repayments are made quarterty by Calff Vineyard. 15 CrltOrS. •mounts falllng due wlthln one year 2024 2023 Other creditors Accruals and deferred income 82 246 2,310 2,482 2,556 16-
GATE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Analy818 of net asset• lkn•n fund8 Unr•$trlcted Unrestricted Fund Fund 2024 2023 Fund balances at 31 Marth 2024 a represented by: Investments Current assetsl(liabiliti8s) 351,715 468,629 335.341 484.427 820.344 799.768 17 Related party transactions Golng Publlc Tru8t G¢ing Pubtic Trust has oynmon trustees. During the year Going Pubh'c Tftt donated £nil to th8 charity (2023.. £24). The Salt Trust The Salt Trust has common trustees. During the year the charity awarded a grant to The Salt Trust of £nil 12023.. £10,000). There were no amounts outsanding at the year end (2023.. £nil). Glenwood Church Glenwood Church has common trustees. During year the charty awarded grants to Glenwood Church totalling £20.000 (2023: £nil). There were amounts ouisanding at the year end (2023.. £nil). 17-