**REGISTERED COMPANY NUMBER: 04156143 (England and Wales) REGISTERED CHARITY NUMBER: 1093301**
**REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **FOR**
## **BISHOPSLAND EDUCATIONAL TRUST**
Rothmans LLP Chartered Accountants Chilworth Point 1 Chilworth Road Southampton SO16 7JQ
**BISHOPSLAND EDUCATIONAL TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 8|
|**Independent Examiner's Report**|9|
|**Statement of Financial Activities**|10|
|**Balance Sheet**|11|
|**Notes to the Financial Statements**|12 to 21|
|**Detailed Statement of Financial Activities**|22 to 23|
## **BISHOPSLAND EDUCATIONAL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 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 30 September 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 2019).
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013, has been omitted.
## **OBJECTIVES AND ACTIVITIES Objectives and aims**
The charity's purposes are exclusively charitable according to the laws of England and Wales, and are to provide vocational training in the fine and applied arts and crafts to persons who are in financial need, and assistance in the establishment of such persons as craftsmen.
To fulfil these objectives, the charity provides a one or two-year immersive programme for early-in-career silversmiths and jewellers. Each annual cohort comprises between eight and twelve talented makers selected regardless of background, means or academic ability. All share a desire to further a career in the silversmithing and/or jewellery sectors, whether that be as makers or within the wider trade. Our vocational skills training, which advances making skills in tandem with business knowledge and experience, is a proven formula for success. Mirroring the traditional 'artisanal' approach of living, learning and working together, we aim to foster knowledge, confidence and support networks that will sustain each maker as they build their respective careers.
## **Significant activities**
To deliver our objectives, the charity provides accommodation; well-stocked workshop facilities which are open seven days a week; 121 tutoring; in-depth group masterclasses led by master craftsmen; opportunities to exhibit at a range of public exhibitions, galleries and events; access to both public and private museum collections; and competitions, as well as opportunities to teach.
Peter Flude Photography
The relocation of the Trust to a site within the National Trust's Heritage & Rural Skills Centre in W Oxfordshire marked a significant milestone in the history of Bishopsland. Much of the year was taken up with planning, fundraising and executing the move and renovation of part of the new site, and this would have been impossible without the leadership and support of our project team lead by our CEO and Principal, executed by Peter White, Project Manager, and significant funding from the South Square Trust. Thanks & recognition is also due to our founders, the Makowers, for their prudence in growing significant Reserves, which enabled the Trust to invest £250,000 into the renovation project.
Page 1
**BISHOPSLAND EDUCATIONAL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **OBJECTIVES AND ACTIVITIES**
The speed and quality of the building work delivered at Hills Yard enabled the Trust to complete the 23/24 year at Bishopsland in July 2024 and commence the 24/25 year at our new site in September. The ability to continue delivering the programme with no gap or significant delay was a key factor in the Trustee's decision making, as much of our operational income and grant funding relies on the delivery of our core teaching programme. We were also extremely grateful to candidates applying to join us in September 2024, as they were shown a derelict yard and empty/unrenovated accommodation, yet 12 makers still accepted offers and joined our programme.
Significant time and cost throughout the year was dedicated to negotiating our exit from the lease on our Dunsden, S Oxfordshire premises, and negotiating three leases with the National Trust:
- At Hills Yard we have a 5 year Agreement to Lease and an agreed draft of the main 30 year lease
- We also have a residential lease for 6 properties which provide accommodation for two of our staff and all of our cohort.
Peter Flude Photography
One of the most dramatic improvements facilitated by our move is that our residential accommodation offer is now fit for modern purposes. All 6 houses are EPC compliant, freshly renovated and fully furnished. Three are within walking distance of Hills Yard, two are a short drive/cycle away and one is in Coleshill, a 10 minute drive. We have flexibility in terms of increasing and decreasing this residential capacity with the National Trust to meet likely dips or increases in annual cohort volumes.
## **Public benefit**
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)'.
## **Charitable activities**
## 2023 - 2024 Cohort
Eight makers commenced the programme in September 2023. In contrast to the previous year, this cohort comprised primarily British students although we were delighted to welcome our second Dutch student from the Zadkine school in Rotterdam. She proved to be as talented and committed to silversmithing as the previous Dutch student, Alewijn Slingerland.
Page 2
## **BISHOPSLAND EDUCATIONAL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **ACHIEVEMENT AND PERFORMANCE**
This was also the first year in which our new Principal, Angela Cork, led the programme and having more face to face contact with the cohort made a significant difference, both to their satisfaction and skills development. Angela and Chris Green, our jewellery tutor, worked closely together to deliver a series of 121 and group tutorials throughout the year. Without doubt, Angela's knowledge, adaptive teaching approach and extensive network added significantly to the quality of the programme deliverables throughout the year.
Peter Flude Photography
Chris Green, having taught at Bishopsland for many years, decided not to move with us. We are so grateful for his support over many years, and there are numerous jewellers amongst our Fellows who owe him a huge debt of gratitude, as do we.
Peter Flude Photography
Eight Masterclasses were delivered encompassing Chasing & Repousse (Bryony Knox); Engraving (Ruth Anthony); Sinking, Raising & Forging (Abigail Brown); Enamelling (Sheila MacDonald); Keum Boo (Jessica Jue); Alloys & Ingot forming (Patrick Davison); Box Making (Patrick Davison); Drawbench (Ray Walton).
Page 3
## **BISHOPSLAND EDUCATIONAL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024**
With Angela present 3 days a week there was a rebalancing of the programme to build in more 121 and small group tutoring, so 6 fewer days were spent in masterclasses (36 in total compared to 42 the previous year). Sixty days were spent in Tutoring, an increase of 36% over the prior year, which equates to 52% of the available time in the year that each member of the cohort received formal teaching and 121 mentoring. All students spent one week away studying and working in the workshops of Master Craftsmen Rod Kelly or Jane Short. The Trust remains forever grateful to these long term supporters of Bishopsland for continuing to host our students and deliver in-depth skills teaching.
Peter Flude Photography
## Events, exhibitions and competitions
Exhibitions were held at Cutlers Hall in November 2023; Goldsmiths Centre in June 2024, Waterperry Gardens (a public Fair organised by Craft in Focus) and our Retro in The Old Fire Station Gallery in Henley, both in July 2024. All events proved popular with our traditional supporters but Waterperry was particularly successful, having high footfall across 3 days with attendees specifically interested in Silversmithing and Ceramics. One of our cohort sold over 20 pieces at this Fair.
The cohort participated and excelled in a number of competitions, most notably our annual Arts Society Competition in January 2024, Goldsmiths Craft & Design Awards in March 2024 where not only did individuals win prizes, but Bishopsland was awarded Silver in the College trophy.
We were sad that 2024 marked the 10th and final Jacobs the Jewellers Emerging Designer Competition and exhibition at their retail outlet in Reading, but so grateful to Adam Jacobs, Betts and Goldsmiths Centre for their 10 years of support.
## Moving on from Bishopsland
The retention of young makers in the sector and their progression to become successful jewellers and silversmiths is one of the founding aims of the Trust. We are proud that, of our last 4 cohorts, 95% of attendees are actively making and selling silversmithing & jewellery, or continuing their education. This is evidence of Bishopsland's continued influence in plugging skills gaps by training the next generation of silversmiths.
Of the seven makers to complete the 23/24 programme, 3 returned to undertake a second year with Bishopsland. One is following a well trodden path and has returned to Glasgow School of Art to be an Artist in Residence. Two have returned to full time education and one is developing her business as an independent jeweller.
Page 4
## **BISHOPSLAND EDUCATIONAL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## Cohort Feedback
Anonymous surveys are sent to each cohort at the end of each module and feedback is reviewed by staff and Trustees, with remedial actions implemented where possible. Summarising their year at Bishopsland in August 2024, 100% of respondents strongly agreed or agreed that 'Bishopland has set me up for future success because the access to specialist masterclasses, exacting standards and access to the workshops and tools have allowed me to fast-forward my skills, capabilities and ambitions'. Every respondent rated their experience on the Bishopsland programme either excellent or very good. Comments such as this summed up the general feedback: "thank you so much to everyone…Bishopsland is such a unique experience and I'll miss being with everyone in the workshop next year".
## **FINANCIAL REVIEW**
## **Financial position**
Funds provided to the Trust are regarded as restricted if they are used directly or indirectly for the provision of the Programme. Where donors offer funds for other purposes they are considered to be unrestricted and their use is to be for the general benefit of the Trust. The financial statements reflect the current financial status of the Trust. Income received from restricted funds £88,601; unrestricted donations £32,179; charitable activities £101,913 and investment income £1,959. This resulted in a total income for the Trust of £224,652, a decrease of 7% over the previous financial year.
Expenditure increased by 63% over the prior year, to £421,757 resulting in a deficit of £150,723 for the year after taking into account gains on investments of £46,382. The increase can be almost entirely attributed to the loss on disposal of the improvements made to the previous property.
The application of existing funds toward the development of the new site, compared to the movement in funds in relation to operating activities, can be summarised as follows:
|Net incoming resources before one off costs
One off costs to exit former site
Net outgoing resource
Funds brought forward
Liquidation of unrestricted investment funds
Utilisation of other funds brought forward
Donation income restricted for new site
Depreciation of new site assets in year
Total funds carried forward|Operating
activities funds
11,715
(162,438)
**(150,723)**
634,095
(227,313)
(36,100)
(27,100)
**192,859**
8,300
**201,159**|Capital (new
site
development)
funds
-
-
**-**
-
227,3113
36,100
27,100
**290,513**
(8,300)
**282,213**|
|---|---|---|
## **Funding sources**
We were delighted that a number of other organisations joined us to contribute towards the capital funding for phase 1a of our renovation of Hills Yard. South Square Trust being the largest donor but we also received our first corporate sponsorship, from De Beers Group, for which we are extremely grateful. A UK Government grant through the UK Shared Prosperity Fund with Vale of White Horse District Council also enabled us to retrofit a number of energy saving / carbon reduction activities. We have received an EPC rating of A in Building A and B in Building C which is a significant achievement within Grade II listed agricultural buildings and underlines our commitment to renovate the site to exacting energy efficiency standards.
## **FINANCIAL REVIEW**
Despite a strong focus on capital fundraising this year, we have increased the number of charities from whom we have received operational grants to include:
The Arts Society
The Arts Council (we were awarded a Project Grant) The Arts Scholars Society The Clothworkers' Foundation D'Oyle Carte Garfield Weston Gold and Silver Wyre Drawers The Goldsmiths' Centre
Page 5
**BISHOPSLAND EDUCATIONAL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **FINANCIAL REVIEW**
Newby Trust Nugee Foundation Silver Society South Square Trust The Radcliffe Trust
## **Reserves policy**
The Trustees regularly review the reserves policy to ensure it is in line with the day-day operations of the charity. When reviewing the 2023 accounts and the charity's operations the Trustees agreed that the revenue reserve should be set to £150,000 which considers the need to provide the continuation of the programme should there be a hiatus once it has commenced. This could be due to a change in policy by existing funders, additional tutoring, housing requirements, administrational support or a general decline in earned income due to a variety of reasons.
## **FUTURE PLANS**
The five areas of focus listed in the previous Chairs report (Governance, Fundraising, Relocation, Cohort Recruitment and Short courses/summer school) have all been successfully delivered. For the coming year our focus will be :
- Securing funding to enable the full renovation of Building B, including the cohort kitchen and rest area
- Identifying funding opportunities to renovate the rest of the site
- Careful management of our costs and adhering to the budget set. Increasing costs, through more paid help, NI rises etc all impact our bottom line
- Continuing to adapt our programme deliverables to suit maker requirements. At the end of 2024 we have installed a digital teaching facility in the main workshop and purchased a 3D printer - we now need to incorporate these into our teaching and enable the cohort to benefit from them
- Further developing our activities within the circular economy though operationalising the Tools Library enabling Bishospland to loan, gift and sell heritage tools to emerging makers whose activities may otherwise be held back due to the lack of appropriate tools. In kitting out our new workshops at Hills Yard, we prioritised the installation of high quality second hand furniture, tools and machines and will employ this sustainable approach where-ever possible as we continue to renovate the site.
## **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.
Peter Flude Photography
Page 6
## **BISHOPSLAND EDUCATIONAL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024**
During 2024 we updated our Articles, which had not been refreshed for many years and are now in line with modern charity practice. The Trust will convert to a CIO early in 2025. The Trustee's believe both of these activities were necessary and appropriate for our expanded financial commitments.
We were delighted to welcome a Treasurer, Craig Menzies, and a new Trustees during the year - Rebecca Steventon. Both have already made substantial contributions and we are grateful for their time and activity.
## **Staff**
Our staffing has been stable over the year, with Angela settling in as Principal, Jonathan gaining in responsibility and confidence as Workshop Coordinator and Claire continuing as Chief Executive. Having two Artist's in Residence, giving one day per week in return for reduced programme fees and also able to bill for specific, pre-agreed additional activities has helped to increase manpower during an exceptionally busy year.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The new workshops at Hills Yard, being newly renovated, designed specifically to our requirements, and furnished with new/refurbished equipment have meant that strong health & safety approaches are much easier to deliver. The workshops are light, spacious, with plenty of storage, easily accessible tools, separate rooms for hammering, chasing & polishing and dedicated chemicals storage. Signage is new and designed with neuro-diverse audiences in mind.
The workshops also have a brand new smoke, burglar and panic alarms suitable for a modern teaching environment.
In total 16 incidents were recorded during the year and this is in large part due to a greater focus on recording accidents and more staff in the workshops to oversee this. One of our Artists in Residence is the first port of call for all Makers should they injure themselves, strengthening the reporting and recording line. The vast majority of accidents were minor in nature with none requiring hospital treatment.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 04156143 (England and Wales)
**Registered Charity number** 1093301
## **Registered office**
Lee Bolton Monier Williams Bishopsland Educational Trust 1 The Sanctuary London SW1P 3JT
## **Trustees**
Mr H J Dellar, Chair, (appointed 08.02.2018) Ms J Gregory (appointed 11.11.2022) Ms R L Knott (appointed 11.11.2022) Mr A Nugee (appointed 11.01.2012) Ms K Paynter (appointed 12.07.2021) Ms R Van Rooijen (appointed 26.10.2017) Mr C Menzies (Treasurer) (appointed 11.01.2024) Ms R Steventon (appointed 11.01.2024)
## **Chief Executive**
Ms C Murdoch
## **Independent Examiner**
Lisa Wilson FCA Rothmans LLP Chartered Accountants Chilworth Point 1 Chilworth Road Southampton SO16 7JQ
Page 7
**BISHOPSLAND EDUCATIONAL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **Solicitors**
Lee Bolton Monier-Williams 1 The Sanctuary Westminster London SW1P 3JT
## **Principal**
Ms Angela Cork MA RCA (appointed 04.09.23)
## **Bankers**
National Westminster Bank PLC 18 Market Place Henley-on-Thames Oxon RG9 2AP
## **THANKS**
Thanks are particularly due to the Trustees who during 2024 have gone over and above their roles to set and execute our strategy. Their time commitment and tangible deliverables are far in excess of what a voluntary Trustee is expected to provide.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
13 February 2025
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mr H J Dellar - Trustee
Peter Flude Photography
Page 8
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BISHOPSLAND EDUCATIONAL TRUST**
## **Independent examiner's report to the trustees of Bishopsland Educational Trust ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2024.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my 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 matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts 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 which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting 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 accounts to be reached.
**----- Start of picture text -----**
OLvitr
**----- End of picture text -----**
Lisa Wilson FCA
The Institute of Chartered Accountants in England and Wales
Rothmans LLP Chartered Accountants Chilworth Point 1 Chilworth Road Southampton SO16 7JQ
Date: ............................................. 25 February 2025
Page 9
## **BISHOPSLAND EDUCATIONAL TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
32,179
**Charitable activities**
5
The Programme
101,913
Investment income
4
1,959
**Total**
136,051
**EXPENDITURE ON**
Raising funds
6
18,614
**Charitable activities**
7
The Programme
230,482
**Total**
249,096
Net gains on investments
46,382
**NET INCOME/(EXPENDITURE)**
(66,663)
**Transfers between funds**
20
50,533
**Net movement in funds**
(16,130)
**RECONCILIATION OF FUNDS**
Total funds brought forward
414,432
**TOTAL FUNDS CARRIED FORWARD**
398,302|Restricted
funds
£
88,601
-
-
88,601
-
172,661
172,661
-
(84,060)
(50,533)
(134,593)
219,663
85,070|2024
Total
funds
£
120,780
101,913
1,959
224,652
18,614
403,143
421,757
46,382
(150,723)
-
(150,723)
634,095
483,372|2023
Total
funds
£
134,489
104,830
2,032
241,351
23,594
235,148
258,742
9,923
(7,468)
-
(7,468)
641,563
634,095|
|---|---|---|---|
During the year ended 30 September 2024, as more fully described in the Trustees' Report, the Trust relocated to a new site to begin the next chapter in the Bishopsland journey. Significant one-off costs arose in relation to the Trust's move from its previous site, including a deficit on disposal of tangible assets of £146,146 and lease exit costs of £16,292, which have been reported in the Statement of Financial Activities. Setting aside these one-off costs, the Net Income/(Expenditure for the year would have reported Net Income £11,715 for the year under review, compared to Net Expenditure (£7,468) for the previous year.
The notes form part of these financial statements
Page 10
## **BISHOPSLAND EDUCATIONAL TRUST**
## **BALANCE SHEET 30 SEPTEMBER 2024**
|||2024|2023|
|---|---|---|---|
||Notes|£|£|
|**FIXED ASSETS**||||
|Tangible assets|14|301,586|180,444|
|**CURRENT ASSETS**||||
|Debtors|15|20,946|46,976|
|Investments|16|159,545|363,164|
|Cash at bank||65,483|81,190|
|||245,974|491,330|
|**CREDITORS**||||
|Amounts falling due within one year|17|(64,188)|(37,679)|
|**NET CURRENT ASSETS**||181,786|453,651|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**||483,372|634,095|
|**NET ASSETS**||483,372|634,095|
|**FUNDS**|20|||
|Unrestricted funds||398,302|414,432|
|Restricted funds||85,070|219,663|
|**TOTAL FUNDS**||483,372|634,095|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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
- (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 provisions applicable to charitable companies subject to the small companies regime.
13 February 2025
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mr H J Dellar - Trustee
The notes form part of these financial statements
Page 11
**BISHOPSLAND EDUCATIONAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **1. GENERAL INFORMATION**
Bishopsland Educational Trust is registered as a Charitable Company Limited by Guarentee in England and Wales and was set up by a Trust deed. The registered office address is Lee Bolton Monier Williams, Bishopsland Educational Trust, 1 The Sanctuary, London, SW1P 3JT.
The financial statements are presented in Sterling, which is the functional currency of the trust's operations.
## **2. 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 2019)', 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.
These financial statements have been prepared on the going concern basis, as there are no material uncertainties about the charity's ability to continue. The trustees' have reached this conclusion based on the nature of the grant funding, contracts for which have been agreed for the foreseeable future.
In accordance with Section 14 of the Charities SORP (FRS102), the Charity has taken exemption from the Requirement to prepare a statement of cash flows.
## **INCOME**
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income, the receipt of such income is probable and the amount can be measured with sufficient accuracy.
Donations and legacies income represents donations, bursaries and grants and is recognised when the charity is entitled to receive the donation.
No amounts are included in the financial statements for services donated by volunteers.
Investment income represents interest from listed investments and cash held. Interest from listed investments and cash held 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.
Charitable activities income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. Rent received relates to student accommodation which is part of the charitable activities of the charity, and is recognised on an accruals basis.
## **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 apportioned 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. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **TANGIBLE FIXED ASSETS**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the length of the lease Plant and machinery - 25% on cost
Page 12
continued...
**BISHOPSLAND EDUCATIONAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **2. ACCOUNTING POLICIES - continued**
## **TANGIBLE FIXED ASSETS**
Tangible fixed assets are stated at historical cost less accumulated depreciation. Tangible fixed assets are reviewed annually for indicators or any impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Tools held in the library collection are recognised at cost on acquisition and used in the charity's workshops as part of ongoing teaching programmes. There is no expected end date for use of the tools given their historic, bespoke nature and continual appreciation in financial worth, giving rise to a residual value in excess of the carrying amount. Accordingly, depreciation has not been charged on this class of asset.
All assets' residual values, useful lives and depreciation methods are reviewed and, if appropriate, are adjusted it there is an indication of a significant change since the last reporting date.
## **TAXATION**
The charity meets the definition of Part 1 of Schedule 6 to the Finance Act 2010 and is potentially exempt from taxation in respect of income or capital gains within categories covered by Chapter 3 of Corporation the Corporation Taxes Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied exclusively to charitable purposes. No tax charge arose in the reported periods.
## **FUND ACCOUNTING**
General funds are unrestricted funds which are available for the use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with the specific restrictions imposed by the donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
## **HIRE PURCHASE AND LEASING COMMITMENTS**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
## **INVESTMENTS**
Investments are shown at closing market value where this is a readily identifiable.
Investments are revalued at the Balance Sheet date so that when investments are sold, gains or losses which arose before the previous year end have already been recognised. Movements in value arising from investment changes or revaluation, together with profits on disposal of investments, have been recognised in the Statement of Financial Activities.
## **DEBTORS**
Debtors receivable within one year or upon demand are recorded at transaction price whether or not a rate of interest is charged on the balance. Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **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.
## **CREDITORS**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions within one year or upon demand are normally recognised at their settlement amount after allowing for any trade discounts due.
## **FINANCIAL INSTRUMENTS**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **LEGAL STATUS OF THE CHARITY**
Page 13
continued...
## **BISHOPSLAND EDUCATIONAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **2. ACCOUNTING POLICIES - continued**
## **INVESTMENTS**
The Charity is a private company limited by guarantee, incorporated in England and Wales, and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
## **3. DONATIONS AND LEGACIES**
|Donations
Grants
Grants received, included in the above, are as follows:
The Arts Society
The Clothworkers' Foundation
Gold and Silver Wyre Drawers
The Goldsmiths' Centre
South Square Trust
The Radcliffe Trust
Nigel Piercey
The Royal Institute of Traditional Arts
Silver Society
Garfield Weston
**4.**
**INVESTMENT INCOME**
Investment income
Deposit account interest
**5.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Commission sales
The Programme
Workshop fees
The Programme
Short course sales
The Programme
Rents received
The Programme|2024
£
35,280
85,500
120,780
2024
£
1,500
8,000
4,000
40,000
18,500
-
-
-
3,500
10,000
85,500
2024
£
-
1,959
1,959
2024
£
9,501
61,766
94
30,552
101,913|2023
£
12,092
122,397
134,489
2023
£
3,000
10,000
4,552
40,000
10,500
4,000
5,500
44,845
-
-
122,397
2023
£
1,176
856
2,032
2023
£
13,254
54,430
-
37,146
104,830|
|---|---|---|
Page 14
continued...
## **BISHOPSLAND EDUCATIONAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **6. RAISING FUNDS**
## **RAISING DONATIONS AND LEGACIES**
## **7.**
## **8.**
|Staff costs
Freelance costs
**CHARITABLE ACTIVITIES COSTS**
The Programme
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Staff costs
Materials, tool hire and maintenance
Masterclasses
Bursary fund payments
Exhibition costs
Professional fees
Commission expense
Rent
Artist in residence costs
Prizes awarded|Direct
Costs (see
note 8)
£
143,670|2024
£
7,829
10,785
18,614
Support
costs (see
note 9)
£
259,473
2024
£
53,845
11,049
28,557
16,668
10,652
5,899
4,762
11,029
209
1,000
143,670||2023
£
23,594
-|
|---|---|---|---|---|
|||||23,594|
|||||Totals
£
403,143|
|||||2023
£
23,594
6,944
31,854
22,809
29,542
6,840
7,144
14,385
6,207
-|
||||149,319||
## **9. SUPPORT COSTS**
|The Programme|Central
overheads
£
91,876|One off
costs to
exit
former
Governance
site
costs
£
£
162,438
5,159|Totals
£
259,473|
|---|---|---|---|
A detailed breakdown of all support costs can be found in the detailed statement of financial activities.
## **10. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
|Independent examiners' remuneration
Depreciation - owned assets
Other operating leases
Deficit on disposal of fixed assets|2024
£
416
11,135
16,292
146,146|2023
£
400
15,018
-
-|
|---|---|---|
As discussed in the trustees' report, the charity relocated to new premises in the year. This resulted in the residual value of the improvements made to the previous premises being written down to £nil.
Page 15
continued...
## **BISHOPSLAND EDUCATIONAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **11. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.
Ms K Paynter provided cover for a member of staff and received payments for serving in that capacity, not for serving as a trustee; these payments are permitted by the charity's governing document.
## **TRUSTEES' EXPENSES**
During the year ended 30 September 2024 expenses of £168 (2023: £228) were reimbursed to trustees of the charity, relating to their attendance at trustee meetings.
## **12. STAFF COSTS**
|Wages and salaries
Social security costs
Pension costs|2024
£
84,654
574
1,972
87,199|2023
£
50,264
-
2,167|
|---|---|---|
|||52,431|
The average monthly number of employees during the year was as follows:
|Managerial
Principal & teaching/technical|2024
1
2|2023
1
1|
|---|---|---|
No employees received emoluments in excess of £60,000.
Staff costs have been pro rated against the categories to which they relate on a per employee basis, as follows:
|Raising donations and legacies
Charitable activities
Support costs
**13.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
12,093
**Charitable activities**
The Programme
104,830
Investment income
2,032
**Total**
118,955
**EXPENDITURE ON**
Raising funds
-
**Charitable activities**
The Programme
142,795
**Total**
142,795||2024
£
7,829
53,845
25,524
87,199
Restricted
funds
£
122,396
-
-
122,396
23,594
92,353
115,947||2023
£
23,594
23,594
5,243
52,431
Total
funds
£
134,489
104,830
2,032|
|---|---|---|---|---|
||||||
||||||
|||||241,351|
|||||23,594
235,148|
|||||258,742|
Page 16
continued...
## **BISHOPSLAND EDUCATIONAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024**
|**13.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
fund
£
Net gains on investments
9,923
**NET INCOME/(EXPENDITURE)**
(13,917)
**Transfers between funds**
(29,249)
**Net movement in funds**
(43,166)
**RECONCILIATION OF FUNDS**
Total funds brought forward
457,598
**TOTAL FUNDS CARRIED FORWARD**
414,432
**14.**
**TANGIBLE FIXED ASSETS**
Improvements
to
Plant and
property
machinery
£
£
**COST**
At 1 October 2023
299,038
28,509
Additions
267,080
11,342
Disposals
(275,605)
(28,509)
At 30 September 2024
290,513
11,342
**DEPRECIATION**
At 1 October 2023
129,482
28,487
Charge for year
8,300
2,835
Eliminated on disposal
(129,482)
(28,487)
At 30 September 2024
8,300
2,835
**NET BOOK VALUE**
At 30 September 2024
282,213
8,507
At 30 September 2023
169,556
22
**15.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
Prepayments|**13.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
fund
£
Net gains on investments
9,923
**NET INCOME/(EXPENDITURE)**
(13,917)
**Transfers between funds**
(29,249)
**Net movement in funds**
(43,166)
**RECONCILIATION OF FUNDS**
Total funds brought forward
457,598
**TOTAL FUNDS CARRIED FORWARD**
414,432
**14.**
**TANGIBLE FIXED ASSETS**
Improvements
to
Plant and
property
machinery
£
£
**COST**
At 1 October 2023
299,038
28,509
Additions
267,080
11,342
Disposals
(275,605)
(28,509)
At 30 September 2024
290,513
11,342
**DEPRECIATION**
At 1 October 2023
129,482
28,487
Charge for year
8,300
2,835
Eliminated on disposal
(129,482)
(28,487)
At 30 September 2024
8,300
2,835
**NET BOOK VALUE**
At 30 September 2024
282,213
8,507
At 30 September 2023
169,556
22
**15.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
Prepayments|
Restricted
funds
£
-
6,449
29,249
35,698
183,965
219,663
Tools
library
£
10,866
-
-
10,866
-
-
-
-
10,866
10,866
2024
£
-
20,946
20,946|Total
funds
£
9,923
(7,468)
-
(7,468)
641,563
634,095
Totals
£
338,413
278,422
(304,114)
312,721
157,969
11,135
(157,969)
11,135
301,586
180,444
2023
£
39,792
7,184
46,976|
|---|---|---|---|
|||||
|||||
|||||
|||||
|||||
|||||
The increase to prepayments primarily relates to payments made against the new leases.
Page 17
continued...
## **BISHOPSLAND EDUCATIONAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **16. CURRENT ASSET INVESTMENTS**
|Listed investments
**17.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Social security and other taxes
Other creditors
Deferred income
Accrued expenses||2024
£
159,545
2024
£
-
6,615
36,049
21,524
64,188||2023
£
363,164
2023
£
1,707
4,986
21,316
9,670
37,679|
|---|---|---|---|---|
||||||
## **18. LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
|Within one year
Between one and five years
In more than five years|2024
£
68,642
271,987
110,070
450,699|2023
£
16,000
64,000
44,000
124,000|
|---|---|---|
## **19. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Unrestricted
fund
£
Fixed assets
301,586
Current assets
133,756
Current liabilities
(37,040)
398,302
**MOVEMENT IN FUNDS**
At
1.10.23
£
**Unrestricted funds**
General fund
414,432
Development - Buildings
-
414,432
**Restricted funds**
The Programme
-
Bursaries and Grants
71,977
Development - Buildings
93,900
Bookbinding - Study
5,000
Website
600
Maintenance
33,877
Maintenance - Driveway
14,309
219,663
**TOTAL FUNDS**
634,095|Restricted
funds
£
-
112,218
(27,148)
85,070
Net
movement
in funds
£
(58,363)
(8,300)
(66,663)
15,327
(2,234)
(43,367)
(5,000)
(600)
(33,877)
(14,309)
(84,060)
(150,723)|2024
Total
funds
£
301,586
245,974
(64,188)
483,372
Transfers
between
funds
£
(239,980)
290,513
50,533
-
-
(50,533)
-
-
-
-
(50,533)
-|2023
Total
funds
£
180,444
491,330
(37,679)
634,095
At
30.9.24
£
116,089
282,213
398,302
15,327
69,743
-
-
-
-
-
85,070
483,372|
|---|---|---|---|
## **20. MOVEMENT IN FUNDS**
Page 18
continued...
## **BISHOPSLAND EDUCATIONAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **20. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Development - Buildings
**Restricted funds**
The Programme
Bursaries and Grants
Development - Buildings
Bookbinding - Study
Website
Maintenance
Maintenance - Driveway
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
The Programme
Bursaries and Grants
Development - Buildings
Bookbinding - Study
Website
Maintenance
Maintenance - Driveway
**TOTAL FUNDS**|Incoming
resources
£
136,051
-
136,051
51,500
10,001
27,100
-
-
-
-
88,601
224,652
At
1.10.22
£
457,598
-
26,148
103,225
5,000
600
33,877
15,115
183,965
641,563|Resources
expended
£
(240,796)
(8,300)
(249,096)
(36,173)
(12,235)
(70,467)
(5,000)
(600)
(33,877)
(14,309)
(172,661)
(421,757)
Net
movement
in funds
£
(13,917)
(29,249)
45,829
(9,325)
-
-
-
(806)
6,449
(7,468)|Gains and
Movement
losses
in funds
£
£
46,382
(58,363)
-
(8,300)
46,382
(66,663)
-
15,327
-
(2,234)
-
(43,367)
-
(5,000)
-
(600)
-
(33,877)
-
(14,309)
-
(84,060)
46,382
(150,723)
Transfers
between
At
funds
30.9.23
£
£
(29,249)
414,432
29,249
-
-
71,977
-
93,900
-
5,000
-
600
-
33,877
-
14,309
29,249
219,663
-
634,095|
|---|---|---|---|
Page 19
continued...
## **BISHOPSLAND EDUCATIONAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **20. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
The Programme
Bursaries and Grants
Development - Buildings
Maintenance - Driveway
**TOTAL FUNDS**|Incoming
resources
£
118,955
47,551
74,845
-
-
122,396
241,351|Resources
expended
£
(142,795)
(76,800)
(29,016)
(9,325)
(806)
(115,947)
(258,742)|Gains and
Movement
losses
in funds
£
£
9,923
(13,917)
-
(29,249)
-
45,829
-
(9,325)
-
(806)
-
6,449
9,923
(7,468)|
|---|---|---|---|
## **Restricted and designated funds**
The development - buildings funds relate to the improvements to leasehold property. The brought forward balance on the restricted fund was largely disposed of during the year following the change of location. The remainder, together with income received in the year was transferred to the designated fund as the balance has been capitalised as new fixed assets (see detailed summary below). The designated fund holds the improvements to leasehold property, being an asset in general use by the charity.
During the last two years the charity has made a substantial investment in property improvements to its new premises for the long term benefit of its charitable activities to the sum of £290,513. In order to achieve this, the charity required extensive cash resources, which were primarily obtained through the sale of investments (proceeds £250,000 in total). A full summary as relates to the new property only is included below.
|Balance in restricted fund brought forward
Income restricted to this purpose
Amounts accrued for
Amounts from charity general funds (investments)
Cost element of improvements to new property (Note 14)|2024
£
23,433
27,100
12,667
227,313
290,513|2023
£
23,433
-
-
-|
|---|---|---|
|||23,433|
The Programme represents monies received for the primary activity of the charity and the relevant costs allocated against it. Although a small surplus has been recognised this year, the fund does not generally hold a significant balance.
Bursaries and grants represent the amounts received in respect of bursaries and their subsequent distribution.
The Arts Council Grant fund has been setup to operationalise the tools library. All transactions have been deferred, prior to the grant's formal receipt in the 2025 accounting year.
The bookbinding - study fund represented amounts received for the purpose of bookbinding. This balance has been spent and the fund is no longer in use.
The website fund represented amount received to create / maintain the charity's website. This balance has been spent and the fund is no longer in use.
The maintenance fund represented amount received to maintain the property and equipment used by the charity. This balance has been spent and the fund is no longer in use.
Page 20
continued...
**BISHOPSLAND EDUCATIONAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **21. CAPITAL COMMITMENTS**
|Contracted but not provided for in the financial statements|2024
£
235,107|2023
£
-|
|---|---|---|
These relate to the capital work being carried out on the new premises.
## **PENSION COMMITMENTS**
At 30 September 2024, the company had pension commitments of £630 (2023: £406).
## **22. RELATED PARTY DISCLOSURES**
Pope and Oliver Makower were unpaid employees of Bishopsland Educational Trust. Bishopsland Education Trust leased property from them. They are also the parents of former trustees Mrs J Mather and Mr W Makower.
The financial transactions with the company are as follows:
Rent paid to Pope and Oliver Makower
|2024
£
30,125
30,125|2024
£
30,385|
|---|---|
||30,385|
Included within other debtors is an amount of £nil (2023: £39,792) owed by Pope and Oliver Makower to Bishopsland Educational Trust. During the year an amount of £23,500 was received in respect of the balance brought forward, leaving a £16,292 balance which was written off in full as a cost of the charity.
Ms K Paynter, a trustee, received £8,034 for providing cover for a member of staff on long term leave.
## **23. POST BALANCE SHEET EVENTS**
On 6 February 2025 the Trust converted to a Charitable Incorporated Organisation (CIO).
Page 21
## **BISHOPSLAND EDUCATIONAL TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Grants
**Investment income**
Investment income
Deposit account interest
**Charitable activities**
Commission sales
Workshop fees
Short course sales
Rents received
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Staff costs
Freelance costs
**Charitable activities**
Staff costs
Materials, tool hire and maintenance
Masterclasses
Bursary fund payments
Exhibition costs
Professional fees
Commission expense
Rent
Artist in residence costs
Prizes awarded
**Support costs**
**Central overheads**
Utilities
Insurance
Telephone
Postage and stationery
Sundries
Travel and subsistence
Hospitality
IT costs
Rent
Carried forward|2024
£
35,280
85,500
120,780
-
1,959
1,959
9,501
61,766
94
30,552
101,913
224,652
7,829
10,785
18,614
53,845
11,049
28,557
16,668
10,652
5,899
4,762
11,029
209
1,000
143,670
11,711
6,141
1,327
657
1,608
6,955
1,069
3,790
15,459
48,717|2023
£
12,092
122,397|
|---|---|---|
|||134,489
1,176
856|
|||2,032
13,254
54,430
-
37,146|
|||104,830|
|||241,351
23,594
-|
|||23,594
23,594
6,944
31,854
22,809
29,542
6,840
7,144
14,385
6,207
-|
|||149,319
16,153
4,042
981
1,043
1,586
2,176
940
1,204
16,000
44,125|
This page does not form part of the statutory financial statements
Page 22
**BISHOPSLAND EDUCATIONAL TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024**
|**Central overheads**
Brought forward
Staff costs
Repairs
Professional fees
Cleaning
Marketing
Improvements to property
Plant and machinery
**One off costs to exit former site**
Costs of exiting lease
Deficit on disposal of tangible fixed assets
**Governance costs**
Independent examiners' remuneration
Accountancy and legal fees
Total resources expended
**Net expenditure before gains and losses**
**Net gains/(losses) on investments**
Current asset investments
**Net expenditure**|2024
£
48,717
25,524
-
-
1,500
5,000
8,300
2,835
91,876
16,292
146,146
162,438
416
4,743
5,159
421,757
(197,105)
46,382
(150,723)|2023
£
44,125
5,243
1,777
14,613
1,115
-
14,952
66
81,891
-
-
-
400
3,538
3,938
258,742
(17,391)
9,923
(7,468)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 23