Charity registration number: 1091525
G R WATERS CHARITABLE TRUST 2000
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
G R WATERS CHARITABLE TRUST 2000
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 4 |
| Trustees' Responsibilities Statement | 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 18 |
G R WATERS CHARITABLE TRUST 2000
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2023
| Trustees | M.A. Fenwick |
|---|---|
| C.D. Organ | |
| Charity registered number 1091525 Registered office 7 Melbray Mews 158 Hurlingham Road London SW6 3NS Independent examiner MHA Chartered Accountants 6th Floor 2 London Wall Place London, United Kingdom EC2Y 5AU Bankers Coutts & Co 440 Strand London WC2R 0QS Solicitors Russells Yalding House 152-156 Great Portland Street London W1W 5QA Investment advisor Coutts & Co 440 Strand London WC2R 0QS |
Page 1
G R WATERS CHARITABLE TRUST 2000
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2023
The Trustees present their annual report together with the financial statements of the Charity for the 6 April 2022 to 5 April 2023.
Objectives and activities
a. Purpose and objectives
The G R Waters Charitable Trust 2000 is a grant-making Charity. Under the terms of the Declaration of Trust, the Trustees can apply its funds for or towards such charitable purposes and to make donations to such charitable institution or institutions at such time or times and in such manner as the Trustees may, in their absolute discretion, think fit.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. All activities have been undertaken to further the Charity's purpose as per its Declaration of Trust, and further its purposes for the public benefit.
b. Main activities undertaken to further the Charity's purposes for the public benefit
The main activities undertaken by the Charity include grant-making and the funding of charitable projects, as selected by the Trustees. Grants are made to those applicants which the Trustees consider appropriate.
The Charity's grants made during the year have funded the regular activities of various causes considered as worthy and justified in their actions by the Trustees. These donations have provided assistance with the provision of continuing works surrounding humanitarian, religious, equality, animal and environmental issues.
Achievements and performance
a. Main achievements of the Charity
During the year the Trustees resolved to make grants of £15,458 (2022: £166,533), of which Nil (2022: £18,269) were made to individuals and £15,458 (2022: £148,264) were made to institutions, further details of which can be found in Note 8 of the Financial Statements.
In the prior year, the Trustees resolved to fund a project to publicise the plight of Nudem Durak, a Turkish singer of Kurdish folk songs who has been incarcerated in a Turkish jail since 2015. A guitar used by Roger Waters on his ‘The Wall’ tour has been signed by him and numerous fellow musicians. A film made of the journey to collect the signatures is showing on social media. The guitar is currently being held in posession of the Trust until they are able to provide it to Nudem.
The cost of the project to date has been recognised within Stock. The Trustees have considered the value of the Stock and have determined that it's value cannot be measured with sufficient reliability, and has therefore been included at cost.
The Charity received donations of £30,723 (2022: £51,962) during the year and investment income of £23,025 (2022: £20,770).
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G R WATERS CHARITABLE TRUST 2000
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023
Financial review
a. 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. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The Trustees are of the opinion that the Charity's reserves at 5 April 2023 are sufficient to meet all future commitments, and that their duties have been adequately performed during the year.
Taking one year with another, the Trustees intend to spend all income as it arises.
The Trustees seek to have sufficient capital from which can be derived spendable funds of an amount which will enable the Trustees in real terms to maintain indefinitely their present level of activities. This policy is reviewed periodically by the Trustees as they see fit.
The Charity's unrestricted funds totalled £1,092,959 as at 5 April 2023 (2022: £1,088,206).
c. Financial review
The income of the Charity is derived from investment income and donations received. The Trustees do not carry out any fund-raising.
The investment income of the Charity during the year was £23,025 (2022: £20,770). The Trustees were satisfied that this represented a reasonable return on capital.
In fixing the amount of funds available for ongoing activities and grant-giving, the policy of the Trustees is to make grants which broadly are commensurate with available income. However, they are from time to time prepared to make grants in excess of the income if there are realised gains or income surpluses from previous years. The grants made during the year totalled £15,458 (2022: £166,533) and support costs were £9,362 (2022: £12,759).
Realised gains from disposal of investments were £14,788 (2022: £21,647 gains) and unrealised gains on investments were £10,562 (2022: £4,956 losses).
d. Investments policy
Funds are invested in such a manner as the Trustees think fit in order to provide an appropriate and balanced portfolio taking into account the requirements of the law relating to the investment of charitable monies, and the investment policy of the Charity.
The Trustees' investment powers stem from the Declaration of Trust.
The Trustees' investment policy is to maximise the total return on the investments of the Charity's funds in a manner which involves the minimum of risk of loss to the portfolio.
The Trustees employ Investment Managers who work within guidelines laid down by the Trustees.
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G R WATERS CHARITABLE TRUST 2000
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023
Structure, governance and management
a. Structure and constitution
The G R Waters Charitable Trust 2000 was established under a Declaration of Trust dated 18 December 2000, and is registered with The Charity Commission under registration number 1091525.
Over the years, Mr Waters, the donor to the Charity, has assigned a portion of his royalty income to the Charity and intends to continue so doing.
Trustees are appointed in accordance with the Declaration of Trust. The Trustees who served throughout the year are shown on page 1.
b. Methods of appointment or election of Trustees
Future Trustees must be appointed in writing by Mr Waters who shall not appoint himself or any other person who is a 'related or subordinate party' to Mr Waters. The Trustees recruited must have regard to their respective areas of knowledge, skills and experience. All new Trustees are briefed fully on the affairs of the Charity before accepting appointment and must sign a declaration of willingness to act as a Trustee of the Charity. The new Trustees then receive adequate training, commensurate to their new role, before taking up their position.
c. Financial 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ M.A. Fenwick Trustee Date: 1 February 2024
................................................ C.D. Organ Trustee
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G R WATERS CHARITABLE TRUST 2000
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 5 APRIL 2023
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, 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 presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Declaration of Trust. 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 members of the board of Trustees and signed on its behalf by:
................................................ ................................................ M.A. Fenwick C.D. Organ Trustee Trustee
M.A. Fenwick Trustee Date: 1 February 2024
Page 5
G R WATERS CHARITABLE TRUST 2000
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2023
Independent Examiner's Report to the Trustees of G R Waters Charitable Trust 2000 ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2023.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: Dated: 05/02/2024
Stuart McKay BSc FCA DChA
MHA, Chartered Accountants, 6th Floor, 2 London Wall Place, London, EC2Y 5AU
Page 6
G R WATERS CHARITABLE TRUST 2000
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023
| Note Income from: Donations 3 Investments 4 Total income Expenditure on: Investment management costs 5 Charitable activities 6 Total expenditure Net (income)/expenditure before net (losses)/gains on investments Net (losses)/gains on investments 10 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 30,723 23,025 53,748 5,613 32,820 38,433 15,315 (10,562) 4,753 1,088,206 4,753 1,092,959 |
Total funds 2023 £ 30,723 23,025 53,748 5,613 32,820 38,433 15,315 (10,562) 4,753 1,088,206 4,753 1,092,959 |
Total funds 2022 £ 51,962 20,770 72,732 6,719 179,292 186,011 (113,279) 16,691 (96,588) 1,184,794 (96,588) 1,088,206 |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities. In 2022, all income and expenditure was from/ to unrestricted funds.
The notes on pages 9 to 18 form part of these financial statements.
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G R WATERS CHARITABLE TRUST 2000
BALANCE SHEET AS AT 5 APRIL 2023
| Note Fixed assets Investments 10 Current assets Stocks 11 Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total net assets Charity funds Unrestricted funds 14 Total funds |
2023 £ 124,510 8,202 74,780 207,492 (107,973) |
2023 £ 993,440 993,440 99,519 1,092,959 1,092,959 1,092,959 |
2022 £ 124,510 30,827 75,191 230,528 (113,073) |
2022 £ 970,751 |
|---|---|---|---|---|
| 970,751 117,455 |
||||
| 1,088,206 | ||||
| 1,088,206 | ||||
| 1,088,206 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
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................................................
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................................................ ................................................ M.A. Fenwick C.D. Organ Trustee Trustee Date: 1 February 2024
The notes on pages 9 to 18 form part of these financial statements.
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G R WATERS CHARITABLE TRUST 2000
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
1. General information
G R Waters Charitable Trust 2000 is an Unincorporated Charity registered with the Charity Commission (Charity Registered Number 1091525) in England and Wales.
The address of the registered office is given in the Charity information on page 1 of these financial statements.
The nature of the Charity's operations and principle activities are detailed in the Trustees' Report.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
G R Waters Charitable Trust 2000 meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared in pounds sterling which is both the functional and presentational currency of the Charity and are rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.
2.2 Going concern
The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Charity to be able to continue as a going concern.
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G R WATERS CHARITABLE TRUST 2000
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
2. Accounting policies (continued)
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Investment income is accounted for in the year in which the Charity is entitled to its receipt.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 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.
2.6 Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Statement of Financial Activities.
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G R WATERS CHARITABLE TRUST 2000
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
2. Accounting policies (continued)
2.7 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
2.8 Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.9 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.
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.11 Liabilities and provisions
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.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.12 Financial instruments
The Charity holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the Charity and their measurement bases are as follows:
Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in Note 12.
Cash at bank is classified as a basic financial instrument and is measured at face value.
Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed in Note 13.
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G R WATERS CHARITABLE TRUST 2000
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
2. Accounting policies (continued)
2.13 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
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G R WATERS CHARITABLE TRUST 2000
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
3. Income from donations
| Unrestricted funds 2023 £ Donations 30,723 Total 2022 51,962 |
Total funds 2023 £ 30,723 51,962 |
Total funds 2022 £ 51,962 |
|---|---|---|
4. Investment income
| Unrestricted funds 2023 £ Dividend income from listed investments 22,147 Bank interest receivable 878 Gain/(loss) on foreign exchange - 23,025 Total 2022 20,770 |
Total funds 2023 £ 22,147 878 - 23,025 20,770 |
Total funds 2022 £ 17,951 2,810 9 |
|---|---|---|
| 20,770 | ||
5. Investment management costs
| Unrestricted funds 2023 £ Investment management fees 5,613 Total 2022 6,719 |
Total funds 2023 £ 5,613 6,719 |
Total funds 2022 £ 6,719 |
|---|---|---|
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G R WATERS CHARITABLE TRUST 2000
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
6. Analysis of expenditure by activities
| Activities undertaken directly 2023 Grant funding of activities 2023 £ £ Charitable activities 8,000 15,458 Grant funding of activities 2022 £ Charitable activities 166,533 Analysis of support costs Governance costs 7. Governance costs Independent examiner's costs - current year remuneration Independent examiner's costs - over /under-accrual of prior year fee Other professional fees |
Support costs 2023 £ 9,362 Support costs 2022 £ 12,759 Total funds 2023 £ 9,362 2023 £ 5,100 - 4,262 9,362 |
Total funds 2023 £ 32,820 Total funds 2022 £ 179,292 Total funds 2022 £ 12,759 2022 £ 5,100 (12) 7,671 12,759 |
|---|---|---|
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G R WATERS CHARITABLE TRUST 2000
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
8. Analysis of grants by type
| Grants made to individuals Grants made to institutions Grants made to institutions Tools For Solidarity 3DCENTRE Unicorn School Independent Media Institute |
2023 £ - 15,458 15,458 2023 £ 10,000 - 5,458 - 15,458 |
2022 £ 18,269 148,264 |
|---|---|---|
| 166,533 | ||
| 2022 £ 10,000 75,200 7,064 56,000 |
||
| 148,264 |
. Grants made to institutions
9. Staff costs, Trustees' remuneration and expenses
The Charity has no employees and the Trustees are considered to be the Key Management Personnel.
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .
During the year ended 5 April 2023, no Trustee expenses have been incurred (2022 - £NIL) .
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G R WATERS CHARITABLE TRUST 2000
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
10. Fixed asset investments
| Cost or valuation At 6 April 2022 Additions Disposals at carrying value Revaluations At 5 April 2023 Net book value At 5 April 2023 At 5 April 2022 |
Listed investments £ 970,751 835,779 (787,740) (25,350) |
|---|---|
| 993,440 | |
| 993,440 | |
| 970,751 |
The Historical cost of the fixed asset investments as at 5 April 2023 was £1,009,944 (2022: £1,009,944). For the year to 5 April 2023, total realised gains on investments came to £14,788. Unrealised losses for the year ended 5 April 2023 were £25,350.
All investments are held to provide a secure return that can be used to further the Charity's activities.
11. Stocks
| Stock 12. Debtors Due within one year Other debtors |
2023 £ 124,510 2023 £ 8,202 8,202 |
2022 £ 124,510 |
|---|---|---|
| 2022 £ 30,827 |
||
| 30,827 |
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G R WATERS CHARITABLE TRUST 2000
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
13. Creditors: Amounts falling due within one year
| Trade creditors Other creditors Accruals |
2023 £ - 101,945 6,028 107,973 |
2022 £ 5,100 101,945 6,028 |
|---|---|---|
| 113,073 |
14. Statement of funds
Statement of funds - current year
| Balance at 6 | Gains/ | Balance at 5 | |||
|---|---|---|---|---|---|
| April 2022 | Income | Expenditure | (Losses) | April 2023 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General Funds | 1,088,206 | 53,748 | (38,433) | (10,562) | 1,092,959 |
| Statement of funds - prior year | |||||
| Balance at | Gains/ | Balance at | |||
| 1 April 2021 | Income | Expenditure | (Losses) | 5 April 2022 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General Funds | 1,184,794 | 72,732 | (186,011) | 16,691 | 1,088,206 |
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G R WATERS CHARITABLE TRUST 2000
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
15. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2023 £ Fixed asset investments 993,440 Current assets 207,492 Creditors due within one year (107,973) Total 1,092,959 Analysis of net assets between funds - prior year Unrestricted funds 2022 £ Fixed asset investments 970,751 Current assets 230,528 Creditors due within one year (113,073) Total 1,088,206 |
Total funds 2023 £ 993,440 207,492 (107,973) 1,092,959 Total funds 2022 £ 970,751 230,528 (113,073) 1,088,206 |
|---|---|
16. Related party transactions
G R Waters is a related party by virtue of being the settlor of the Charitable Trust. He has assigned a proportion of his royalties to the Charity and during the year these amounted to £53,348 (2022: £51,962). During the year he made grants on behalf of the Charity of Nil (2022: £18,269) for which he was reimbursed by the Charity. At the year-end, £8,202 was owed to the Charity by G R Waters (2022: £2,508).
During the year, Russells Solicitors were paid £3,621 (2022: £2,880) in respect of professional services provided to the Charitable Trust. C D Organ is a Trustee of the Charitable Trust and a senior consultant of Russells Solicitors.
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