CHARITY REGISTRATION NUMBER: 1092850
The Radford Educational Trust Unaudited Financial Statements 31 December 2024
HAFFNER HOFF LTD
Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
The Radford Educational Trust
Financial Statements
Year ended 31 December 2024
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 6 |
| Statement of financial activities | 7 |
| Statement of financial position | 8 |
| Notes to the financial statements | 9 |
The Radford Educational Trust
Trustees' Annual Report
Year ended 31 December 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024.
Reference and administrative details
Registered charity name The Radford Educational Trust Charity registration number 1092850 Principal office 468B Bury New Road Salford M7 4NU The trustees E Taylor M Sinitsky A Schleider Independent examiner Mr Howard Schwalbe ACA 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
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The Radford Educational Trust
Trustees' Annual Report (continued)
Year ended 31 December 2024
Structure, governance and management
The Radford Educational Trust is constituted under a Trust Deed dated 13 December 2001 and amended by supplemental deed dated 11 July 2002. It is a registered charity number 1092850.
Recruitment and appointment of new trustees would be in line with the Trust Deed and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
There is no chief executive officer. The day-to-day affairs are undertaken by Mrs M Rutenberg on behalf of the trustees. All major decisions are taken collectively by the trustees, and all the trustees give of their time freely. The trustees are unpaid, and details of any related party transactions are disclosed as applicable in the notes to the accounts. The arrangements for setting the pay of the charity’s employees are the sole domain of the trustees.
There are no policies for the induction or training of new trustees.
Risk review
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust and are satisfied that systems are in place to manage our exposure to the major risks.
The risks faced by the trust are principally operational risks from ineffective grant making. These risks are managed by the trustees researching potential beneficiaries before granting donations.
Report back and review procedures strengthen these safeguards to ensure public benefit is achieved from all grants.
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The Radford Educational Trust
Trustees' Annual Report (continued)
Year ended 31 December 2024
Objectives and activities
The objects of the charity are to promote Jewish education at the discretion of the trustees.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.
Grant making policy
The charity has established its grant making policy to achieve its objects for the public benefit. The charity invites applications for funding through contacting local philanthropists to contribute towards projects that both the trustees and the philanthropists feel are appropriate for the charity’s objects.
The application of the funds by way of grants is to either institutions or individuals and is almost always to institutions.
The trustees consider they have met the public benefit test and outline these achievements below.
The trustees measure the success of achieving the stated aims by the number and value of grants paid out for each object. The grants paid out in the year are detailed in the notes to the accounts and the trustees consider they have met their aims successfully this year.
The trustees consider the shorter-term aims to be similar to the longer term aims and assess the achievement of the charity in the same way.
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The Radford Educational Trust
Trustees' Annual Report (continued)
Year ended 31 December 2024
Achievements and performance
The charity had donations receivable amounting to £13,038 (2023: £40,131) during the year.
Other incoming resources are in respect of hire of the hall amounting to £55,192 (2023: £47,913) and there was investment income of £5 (2023: £7).
The charity incurred charitable expenditure amounting to £15,834 (2023: £22,331) on repairs and £25,757 (2023: £22,912) on cleaning the building that is used exclusively for educational purposes.
There were travel costs of £4,540 on a educational trip.
Grants made during the year to institutions totalled £13,961 (2023: £45,500) as detailed in note 10 and are in line with the stated objects of the charity. This year the charity continued to support a creche by way of grants, that is used by some of the teachers as well as for children whose parents do not teach in the school that occupies the building owned by the charity.
There were no investments made during the year.
There were no fundraising costs incurred during the year.
There were security costs of £11,526 (2023: £10,799), legal and professional costs of £14,063 (2023: £7,453), governance costs of £780 (2023: £780) and other office costs of £5,083 (2023: £3,594) during the year.
There were no related party transactions made during the year.
There was an overall net expenditure and movement in funds for the year amounting to £23,309, £7,994 of net income in unrestricted funds and £31,303 of net expenditure in restricted funds (2023: £49,114 which comprised of £25,318 of net expenditure in unrestricted funds and £23,796 of net expenditure in restricted funds).
Financial review
The trustees feel that the activity reflects the profile and standing within the local community. The impact for future year's expenditure is self-evident and the trustees would like to record their appreciation for all the financial support received from benefactors during the course of the year.
Reserves policy
The restricted fund represents the restricted funds arising from past operating results. The unrestricted fund represents the unrestricted funds arising from past operating results. The unrestricted and restricted fund together represent the reserves of the charity.
The trustees are satisfied that the balance of the fund less the carrying value of the freehold land and buildings approximates to the equivalent of one years anticipated operating expenditure, which is satisfactory given the nature of revenue receipts against grants payable.
In considering the financial obligations of the charity, the trustees have resolved to maintain a minimum reserve, being the current assets of the charity.
The free reserves, represented by the net current assets of the charity stand at £44,275 all of which are unrestricted (2023: £67,584, of which £36,281 are unrestricted and £31,303 are restricted).
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The Radford Educational Trust
Trustees' Annual Report (continued)
Year ended 31 December 2024
The trustees' annual report was approved on 10 September 2025 and signed on behalf of the board of trustees by:
M Sinitsky Trustee
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The Radford Educational Trust
Independent Examiner's Report to the Trustees of The Radford Educational Trust
Year ended 31 December 2024
I report to the trustees on my examination of the financial statements of The Radford Educational Trust ('the charity') for the year ended 31 December 2024.
Responsibilities and basis of report
As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements 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
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:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements 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.
Mr Howard Schwalbe ACA
Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
10 September 2025
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The Radford Educational Trust
Statement of Financial Activities
Year ended 31 December 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 13,038 | – | 13,038 | 40,131 |
| Investment income | 5 | 5 | – | 5 | 7 |
| Other income | 6 | 55,192 | – | 55,192 | 47,913 |
| ---------------------------- | -------------- | ---------------------------- | ---------------------------- | ||
| Total income | 68,235 | – | 68,235 | 88,051 | |
| ============================ | ============== | ============================ | ============================ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 7,8 | 60,241 | 31,303 | 91,544 | 137,165 |
| ---------------------------- | ---------------------------- | ---------------------------- | -------------------------------- | ||
| Total expenditure | 60,241 | 31,303 | 91,544 | 137,165 | |
| ============================ | ============================ | ============================ | ================================ | ||
| ---------------------------- | ---------------------------- | ---------------------------- | -------------------------------- | ||
| Net expenditure and net movement | in | ||||
| funds | 7,994 | (31,303) | (23,309) | (49,114) | |
| ============================ | ============================ | ============================ | ================================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 36,281 | 8,305,648 | 8,341,929 | 8,391,043 | |
| ---------------------------- | ----------------------------------------- | ----------------------------------------- | ----------------------------------------- | ||
| Total funds carried forward | 44,275 | 8,274,345 | 8,318,620 | 8,341,929 | |
| ============================ | ========================================= | ========================================= | ========================================= |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 16 form part of these financial statements.
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The Radford Educational Trust
Statement of Financial Position
31 December 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 15 | 8,274,345 | 8,274,345 | |
| Current assets | ||||
| Debtors | 16 | 5,200 | 5,200 | |
| Cash at bank and in hand | 39,855 | 63,884 | ||
| ---------------------------- | ---------------------------- | |||
| 45,055 | 69,084 | |||
| Creditors: amounts falling due within one year | 17 | 780 | 1,500 | |
| ---------------------------- | ---------------------------- | |||
| Net current assets | 44,275 | 67,584 | ||
| ----------------------------------------- | ----------------------------------------- | |||
| Total assets less current liabilities | 8,318,620 | 8,341,929 | ||
| ----------------------------------------- | ----------------------------------------- | |||
| Net assets | 8,318,620 | 8,341,929 | ||
| ========================================= | ========================================= | |||
| Funds of the charity | ||||
| Restricted funds | 8,274,345 | 8,305,648 | ||
| Unrestricted funds | 44,275 | 36,281 | ||
| ----------------------------------------- | ----------------------------------------- | |||
| Total charity funds | 18 | 8,318,620 ========================================= |
8,341,929 ========================================= |
These financial statements were approved by the board of trustees and authorised for issue on 10 September 2025, and are signed on behalf of the board by:
M Sinitsky Trustee
The notes on pages 9 to 16 form part of these financial statements.
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The Radford Educational Trust
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 468B Bury New Road, Salford, M7 4NU.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Tangible fixed assets
All fixed assets are initially recorded at cost.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. /Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes.
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The Radford Educational Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2024
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable, and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable, and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible fixed assets
Tangible fixed assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible fixed assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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The Radford Educational Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2024
3. Accounting policies (continued)
Tangible fixed assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
There is no depreciation charge for Land and Buildings in the year. This is a departure from the Companies Act 2006 requirement to depreciate all fixed assets. The trustees consider this departure appropriate to reflect a true and fair view on the basis that the building is maintained to a high standard.
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & fittings - 15% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
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The Radford Educational Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2024
3. Accounting policies (continued)
Financial instruments (continued)
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 13,038 | 13,038 | 40,131 | 40,131 | |
| ============================ | ============================ | ============================ | ============================ | ||
| 5. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 5 | 5 | 7 | 7 | |
| ============== | ============== | ============== | ============== | ||
| 6. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Hall hire | 55,192 | 55,192 | 47,913 | 47,913 | |
| ============================ | ============================ | ============================ | ============================ |
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The Radford Educational Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2024
7. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Educational expenditure | 45,500 | 31,303 | 76,803 |
| Charitable grants | 13,961 | – | 13,961 |
| Support costs | 780 | – | 780 |
| ---------------------------- | ---------------------------- | ---------------------------- | |
| 60,241 | 31,303 | 91,544 | |
| ============================ | ============================ | ============================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Educational expenditure | 67,089 | – | 67,089 |
| Charitable grants | 45,500 | – | 45,500 |
| Support costs | 780 | 23,796 | 24,576 |
| -------------------------------- | ---------------------------- | -------------------------------- | |
| 113,369 | 23,796 | 137,165 | |
| ================================ | ============================ | ================================ |
8. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Grant funding |
Support |
Total funds | Total fund | |
| directly | of activities |
costs |
2024 | 2023 | |
| £ | £ | £ | £ | £ | |
| Educational expenditure | 76,803 | – |
– |
76,803 | 90,885 |
| Charitable grants | – | 13,961 |
– |
13,961 | 45,500 |
| Governance costs | – | – |
780 |
780 | 780 |
| ---------------------------- | ---------------------------- | -------------- | ---------------------------- | -------------------------------- | |
| 76,803 | 13,961 |
780 |
91,544 | 137,165 | |
| ============================ | ============================ | ============== | ============================ | ================================ | |
| Analysis of support costs | |||||
| Analysis of | |||||
| support costs | Total 2024 | Total 2023 | |||
| £ | £ | £ | |||
| Governance costs | 780 | 780 | 780 | ||
| ============== | ============== | ============== | |||
| Analysis of grants | |||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Grants to institutions | |||||
| Beis Yaacov Jewish High School Academy | – | 16,000 | |||
| Creche Payments | 12,750 | 22,000 | |||
| Jewish High School For Girls | – | 7,500 | |||
| Grants under £2,500 | 1,211 | – | |||
| ---------------------------- | ---------------------------- | ||||
| 13,961 | 45,500 | ||||
| ---------------------------- | ---------------------------- | ||||
| Total grants | 13,961 | 45,500 | |||
| ============================ | ============================ |
9. Analysis of support costs
10. Analysis of grants
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The Radford Educational Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2024
11. Net expenditure
Net expenditure is stated after charging/(crediting):
| Net expenditure is stated after charging/(crediting): | |||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | – | 23,796 | |
| ============== | ============================ | ||
| 12. | Independent examination fees | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 780 ============== |
780 ============== |
13. Staff costs
The average head count of employees during the year was Nil (2023: Nil).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
14. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
15. Tangible fixed assets
| Land and | Fixtures and | ||
|---|---|---|---|
| buildings | fittings | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 January 2024 and 31 December 2024 | 8,274,345 | 593,841 | 8,868,186 |
| ========================================= | ================================ | ========================================= | |
| Depreciation | |||
| At 1 January 2024 and 31 December 2024 | – | 593,841 | 593,841 |
| ========================================= | ================================ | ========================================= | |
| Carrying amount | |||
| At 31 December 2024 | 8,274,345 | – | 8,274,345 |
| ========================================= | ================================ | ========================================= | |
| At 31 December 2023 | 8,274,345 | – | 8,274,345 |
| ========================================= | ================================ | ========================================= |
The trustees consider it is inappropriate to depreciate the freehold land and buildings as they consider the current carrying value represents the fair value of the asset.
This is due to the building being maintained to a high standard and is in good order.
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The Radford Educational Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2024
| 16. | Debtors | ||||
|---|---|---|---|---|---|
| 2024 | 2023 | ||||
| £ | £ | ||||
| Other debtors | 5,200 | 5,200 | |||
| ======================= | ======================= | ||||
| 17. | Creditors: amounts falling due within one year | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Accruals and deferred income | 780 | 1,500 | |||
| ============== | ======================= | ||||
| 18. | Analysis of charitable funds | ||||
| Unrestricted funds | |||||
| At 01 | At 31 | ||||
| Jan 2024 | Income | Expenditure | Dec 2024 | ||
| £ | £ | £ | £ | ||
| General funds | 36,281 | 68,235 | (60,241) | 44,275 | |
| ============================ | ============================ | ============================ | ============================ | ||
| At 01 | At 31 | ||||
| Jan 2023 | Income | Expenditure | Dec 2023 | ||
| £ | £ | £ | £ | ||
| General funds | 61,599 | 88,051 | (113,369) | 36,281 | |
| ============================ | ============================ | ================================ | ============================ | ||
| Restricted funds | |||||
| At 01 | At 31 | ||||
| Jan 2024 | Income | Expenditure | Dec 2024 | ||
| £ | £ | £ | £ | ||
| Building fund | 8,305,648 | – | (31,303) | 8,274,345 | |
| ========================================= | ============== | ============================ | ========================================= | ||
| At 01 | At 31 | ||||
| Jan 2023 | Income | Expenditure | Dec 2023 | ||
| £ | £ | £ | £ | ||
| Building fund | 8,329,444 | – | (23,796) | 8,305,648 | |
| ========================================= | ============== | ============================ | ========================================= |
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The Radford Educational Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2024
19. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Tangible fixed assets | – | 8,274,345 | 8,274,345 |
| Current assets | 45,055 | – | 45,055 |
| Creditors less than 1 year | (780) | – | (780) |
| ---------------------------- | ----------------------------------------- | ----------------------------------------- | |
| Net assets | 44,275 | 8,274,345 | 8,318,620 |
| ============================ | ========================================= | ========================================= | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Tangible fixed assets | – | 8,274,345 | 8,274,345 |
| Current assets | 36,281 | 32,803 | 69,084 |
| Creditors less than 1 year | – | (1,500) | (1,500) |
| ---------------------------- | ----------------------------------------- | ----------------------------------------- | |
| Net assets | 36,281 | 8,305,648 | 8,341,929 |
| ============================ | ========================================= | ========================================= |
20. Related parties
There were no related party transactions during the year.
21. Taxation
The Radford Educational Trust is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
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