The Daneford Trust (A Company Limitcd by Cjudrantcc) Company No. 4329952 Charity No. 1094607 Report and Flnanclal Statements For the year ended 31 December 2023
The Daneford Trust Trustees. and Annual Report For the year ended 31 December 2023 Contents Contents: Page: Reference and Admlnlstratlve Inforniation Trustees. Annual Report 34 Independent Audltorn. Report statement of Flnanclal Actlvltles (incorporating an income and expenditure account) Balance Sheet Balance Sheet Notes to the Flnanclal Statements 10-16
The Daneford Trust Trustees. and Annual Report For the year ended 31 December 2023 Trustees: Ayodele Bandele Wendy Bisiker Henry Chin (c0pled 31.05.2023) Edward Clayton Akilah Higgins James Robinson Mike Wardle Company Secretary: Anthony Stevens Company number: 04329952 Charity number: 1094607 Registered office: St Margaret's House 21 Old Ford Road London E2 9PL. Independent examiner: Goldwins Limited 75 Maygrove Road West Hampstead London NW6 2EG oldwins.co.uk Bankers: The Co-operative Bank Olympic House 6 Olympic Court Salford M6 2QP.
The Daneford Trust Trustees. and Annual Report For the year ended 31 December 2023 The Trustees. who are also directors under company law, present their report and financial statements for the year ended 31 December 2023. The Trustees confirm that the financial statements of the charity comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102. Objectives and Activities Charitable Alms The Daneford Trust is a company limited by guarantee and a registered charity with the charitable objects of giving young people. locally and from abroad, the opportunity to experience life in a different culture and their developrnent of international understanding. During the reporting period the trustees have considered section 17 of the Charities Act 2011 and Charity Commission guidance on public benefit. We have sought to ensure that the charity is fulfilling its charitable purpose to benefit the public by outreach to young people in London and visits by trustees to several of our partners overseas. Grant making Daneford Trust awards grants to groups and individuals from London taking part in projects with our partners in South Asia, Africa and the Caribbean. We also award grants to young people from our partner organisations who visit the UK. This year we awarded grants to two community group exchange projects with partners in Namibia and Uganda and two individual volunteers who went to Ghana and St Vincent and the Grenadines. Trustees supported field visits made to St Vincent and the Grenadines by Mica Duncan, Outreach Worker and by James Robinson. trustee to Botswana. The core of both these visits was to strengthen the Trust's partnership in both countries (post Covid). Staff and Volunteers The Trustees continue to take on various roles to maintain the organisation's work. The Trustees continue to support the two part-time staff, Mica Duncan, Outreach Worker and Tony Stevens. Admin Worker and the services of Counting Stsrs have increased in line with social media visibility. Trustees continue to seek new. enthusiastic and experienced Trustees, particularly a Trustee Treasurer. Our achlevements and perfomiance The Trustees review the performance of the Trust at regular meetings. Beginning in January 2023. trustees met for a development day to identify clear SMART targets aligned to our mission, part of which included raising our profile on social media and regularly publishing on the blog section of the Trust website. Trustees also decided to consolidate the alumni network to support the longevity of the Trust. Over the year the Trustees were pleased to support bNo youth exchange projects.. 1. Bsix College. Hackney, to Uganda (2023) and 2. Kori Youth Hub, Haringey to Namibia (planned for 2024). We also supported two Overseas Volunteer Projects: 1. Serene Anderson, who worked on two projects including Helping Hands special needs centre in Kingstown and 2. Folashade Millar Maps, who worked with Girl Guides Ghana in Accra. Folashade gave a presentation at the Trust's 40" Anniversary Reception in the House of Commons in October 2023.
The Daneford Trust Trustees. and Annual Report For the year ended 31 December 2023 Trustees also received a proposal about an exciting prospective visit from a school group from Botswana which led to initial ideas being discussed over Zoom. Since establishing our charity in November 1981, we have supported over 8.270 young people from across London and overseas in parts of Africa, Asia and the caribbean. to engage in life- changing global education, cultural and voluntsry work exchanges. We have also worked with teachers. lecturers. youth and community practitioners in schools. colleges, youth and community organisations throughout the London boroughs, and with partners in eleven countries world- wide. Apart from the three projects mentioned above we continue lo maintain existing and new partnerships, including Bsix College, Hackney, Cleve School, Bexley, Kori Youth Hub. Haringey. New City College (Hackney and Tower Hamlets) Leyton Sixth Fonn College. Waltham Forest and Young Lyric, part of the Lyric Theatre Hammersmith. We remain unique in our mission to actively seek out young people who may have social, economic or cultural barriers to volunteering or travelling overseas. Many of the young people we have supported would have not benefitted from the experiences if it were not for the support of the Daneford Trust. The Trust continued to fa challenges, including the loss of activity post Covid, throughout 2023, and we are thankful for volunteers and donors whose combined sl efforts have seen us through our 40th and now 41 year of youth work and education. We continue to benefit from relatively low costs in rent, utility costs on our new office premises in St Margaret's House in Bethnal Green. James Robinson was re-elected as Chair of Trustees and Tony Stevens continues as Company Secretary. Trustees were delighted to welcome new Trustee Henry Chin, a Daneford Trust alumni who worked in Guyana. 2010. Flnanclal Revlew The statement of Financial Activities shows net income for the reporting period of £28.828 against expenditure of £30,832. a deficit of £2.004. Funds at 31.12.2023 stand at £54,098. We continue to benefit from grants and donations from a number of loyal charitable trusts and foundations, including: 'Anon'. The Lord Mayor's 800th Anniversary Trust. the Lorraine Anderson Memorial Fund. The Pamela Leung Arts Fund. The Jack Petchey Foundation and The K E Prideaux-Brune Settlement. The Trustees are mindful that the number of such donations and support will change as we come out of the Covid pandemic. Charities and companies are simply changing their priorities. The Trustees held a ReptIOn for supporters and friends House of Commons, in October, towards the end of our 4th Anniversary celebrations. We are grateful to Rusharana Ali MP who hosted us in the Jubilee Room. Over 40 guests heard words of encouragement from Ms Ali and project presentations from Foleshade Millar Maps and staff and students from Bsix College, Hackney A large section of our income continues to come from loyal 'Friends' who donate through Standing Orders with their banks. A significant number of these donations are made by the Trust's Alumni (former volunteers). The Trustees have continued to recruit the services of accountants Accountability Europe. All funds are held in our bank account where balances eam interest.
The Daneford Trust Trustees. and Annual Report For the year ended 31 December 2023 Reserves The Daneford Trust cuffently holds resep4es of around 112% of its annual budget. Our unrestricted free resereS are 73 % of annual budget. Our reserves policy is to aim for free reserves to enable us to meet our liabilities for up to 6 months. Going conrn The Trustees confirm that the Daneford Trust is a going concem. Principal risks and uncertainties During the year the trustees kept under review the risks faced by the charity in relation to its activities. finance. health and safety, govemance and management. Plans to mitigate these risks were considered and policies were reviewed at trustee meetings. including safeguarding, volunteering and health and safety. Plans for Future Periods The Daneford Trust exists to empower the next generation, building bridges with communities, offering ladders to opportunities and supporting young people to change the world around them for the better. It is our vision that these experiences will empower young people to combat prejudice, barriers and injustice which they encounter in future life. In a fast changing and challenging environment, it is important that our work continues- as now more than ever- it matters. We are committed to sustainability, recognising that our work is in our ability to make lasting change. As well as sustaining our existing relationships, we remain keen to develop new partnerships with organisations from across sector that can support us in taking our agenda forward. We passionately and unequivocally believe that collaboration, participats'on and partnership with others will assist young people to have the best chances. choices and opportunities. During 2023 we remained detemiined to reach out to and work with more young people, teachers and youth workers. develop our work in supporting groups interested in international education and volunteering projects. Structure. Governance and Management The charity is constituted as a registered charity and a company limited by guarantee. The Trust was incorporated on 27th November 2001 and, on 1st January 2002. took over the assets, liabilities and activities of the Daneford Trust, an unincorporated charity established in 1982. The provisions of the governing document have been complied with during the reporting period under review. The Trustees serve on a Board of Trustees has met regularly during the year and met in January to discuss and write a new 3-year Development Plan. This is now a 'bench mark, paper of reference for Trustees. in the immediate future. At present there are seven Trustees. with experience in youth work, teaching, charity Management, social work. Corporate IT and volunteering. We are currently prioritising the appointment of a Trustee Treasurer. Trustees are elected for a two-year term at the Annual General Meeting. Statement of responsibilities of the Trustees The Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for preparing the report of the trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law requires the trustees to prepare financial statements for each financial year. which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and
The Daneford Trust Trustees, and Annual Report For tho year ended 31 December 2023 expenditure, of the charitable company for that period. In preparing those financial statements. the trustees are required to: Select suitable accounting policies and then apply them consistently. Observe the methods and principles of the Charity SORP" Make judgements and estimates that are reasonable and prudent; and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 st December 2023 was seven. The Trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneh'cial interest in the charity. The Trustees, Annual Report has been approved by the Trustees on .....................-...... ....... James RobIron, Chair of Trustees Mlke Wardle, Vice-chair of Trustees
Independent Examlnevs Report To the members of The Daneford Trust For the year ended 31 December 2023 I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023. Responslbllftles and basls of rnport 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 account5 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 independenl examination. I report in respect of my examination of your charity's accounts as carried out under section 145 of Ihe Charities Act 2011 ('Ihe 2011 Acl.). 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 Oxamlnerfs Statsment 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- accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act., or the accounts do not accord with those records., or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement thal the accounts give a 'true and fair view which is nol a matter considered as part of an independenl examination., or the accounts have not been prepared in accordance with the melhods and principles of the Statement of Recommended Praclice for accounting and reporling 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 concems 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. 10 June 2024 Anthony Epton B& FCA CT& FCIE Goldwins Limited Chartered Accountants 75 Maygrove Road London NW6 2EG
The Daneford Trust Statement of financial activities (incorporating an income and expenditure account) For the year ended 31 December 2023 2023 Totsl 2022 Total Unrestrlcted Restrlcted Income from.. Donations and legacies 28.828 28,828 21,329 Total Incomo 28,828 28.828 21,329 Expendlturn on: Charitable activities 30.832 30,832 25,600 Total expendlture 30,832 30,832 25,600 Not Income l (oxpendtture) for tho yur (2.004) (2,004) (4,271) Transfers between funds Net movement In funds (2,004) (2,0041 (4.271) Reconclllatlon of funds: Totsl funds brought forward 46.797 9.305 56.102 60,373 Total funds carrl•d fonvard 44.793 9.305 54,098 56,102 l of the above resulls are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes fomi part of these financial statements.
The Daneford Trust Balance sheet As at 31 December 2023 2023 2023 2022 2022 Flxed assets: Tangible assets Currnnt assets: Stock Debtors Cash at bank and in hand 150 8,310 150 10 61.223 61,373 55.098 Llabllltles= Creditors-. amounts falling due within one year 11 1,000 Not currnnt assets l (Ilabllltles) 54,098 60,373 Totsl assets les• current Ilabllltles 60,373 Totsl net assets I Illabllltles) 54,098 60.373 Fund8 Restricted funds Unrestricted funds- General funds Total unrestricted funds 13 9,305 9,305 44.793 46,797 44,793 46,797 Totsl fvnds 54,098 56,102 For the tinancial year cndLd 31 DcccmbLr 2023. thc Company was cntiilcd to cxcmption from audit undcr ScLlion 477 01. (he Companies ALt 21M)6. and no nolice has been deposil¢d under slI0n 476. The direclors acknowledg)e Iheir responsibililies for ensuring ihai ihe Company keeps accounting records which cumply with Section 386 01" Ihc Act and prcpdring Financial Sialemcnls which give a Irue and fdir view of the state of alTdifs of ihe Company as < the end of the period and of its profil or loss for the financial period in aLLordance witli ihe requireinenls of Seclions -194 and 395 and which oih¢rwisc Lomply wilh thL fcquiT¢mcnts of th¢ Companics Aci 2006. so far as appliLablc 10 Ihc Company. The Financial Sialcn]cnts hav¢ been prcparcd in accordancc with ihc spccial provisions rLlatingy tu small companics within Part 15 ot- the Companies Acl ?006 and in accorddnL¢ with the Findncidl Reporling Standard iipplicable in the UK and Republic of Ireland IFRS 10?) (elT¢clive l January 2015). Thc Financial Statcmcnts wcrc approi'cd by ihc Board on Mlke Wardle Vlcelhalr of T Company rngl•tratlon no. 04329952 The attached notes form part of the financial ststements.
The Danoford TN•t Notss to the flnanclal statements For th• year •nd•d 31 Decembor 2023 1 Accountlng pollcl•s a) 8a•S5 of prep•r•tlon The financial slatements have been prepared acu)rdance vrilh Accwnting and Reporting by Chanties." Statement of Recomrnended Praclice applicable lo thantw wepanng Iheir accounts accordance wilh Ihe Financial Reporting Standard applicable in the UK and Republic of IreLind IFRS 102- effeth"¥e 1 January 20151- (charits SChgP FRS 1021 and the Companies Act 2006. The charitsble (xxnpany meets the definItn of a publc benefft enbty under FRS 102. Assets and liabilitses are inth'ally recognised al hJ$loriGal ¢ost or transaction v31ue unless othemse staled in the leant accountsng pdicy or nole. In preparing the account5. the trustees have considered whether In applw'ng the accounting policies required by FRS 102 and the Charilies SORP FRS 102 a restatement ol comparats¥e rtem5 was required. c) Golng eone•m The trustee5 con5Kler that Iherg arg no mal8rial unc8rtainbes attht Ihe chanlable cwipany's ability to conbnue as 8 going wncem. The trustees do nol consider that Ihere are any souices ol esumatson uncertainty at the reporting date thal have a s¢gnificanl nsk of causing a materi81 adjustment lo the carryng amounts of a55ets and liabilitses wthin the next reporbng period. dl Incom• Income is recognised when the charily has entiUemenl to the funds. any perfom)ance conditions attached to the income have been mel. it is probable Ih3t the illcome wll be recthved and thal Ihe alnt can be measured feliably. Income ffom govemmenl and olher granls. whelher 'wlal' grants or 'revenue' grants. Is recognised when the charity has enlitlemeni io the lund5. any performance conditions attached to the grants have been met. Il is IKobalAe Ihat Ihe income wll be received and the amount can be measured rellaY and is not delerred. Incc*ne received in advan for Ihe prow%on of speufied seryice is deferred unb"I the critena for incne recognition a met. fj Inl•r•¥¢ w•c•lval)l• Interest on lunds held on deF4)5it is inckKled ¥•hen Teceivable and the amwnt can be measured reliably by the charity; Ihis is normally upon notification of the interest paid or payable by the bank. g) Fund accountlng Unresincle¢J funds are availab to spend on activibes that lurther any of the purposes of charity. Designated funds are unrestncled funds ol the charity which the trustee5 have deoded at theiv dIScrets to set ade to use a speafic purpose. Reslricted funds are donations which the donor has specjfied are lo be solely used for partJ"cular a$ of the tharity's W(xk or lor speufi¢ projecls being undertaken by the charity.
The Daneford TN8t Notes to the flnanclal statements For the year ended 31 De¢•mb•r 2023 1 Accourrtlng pollcl•• {conllnu•O) h) Expendltt•r• al Irv•cov•r•bl• VAT Expenditure Is fecognised once there Is a l construcb"¥e obligabon to make a payment io a thifd party. it is probable that seiuement wll be required and Ihe amounl ol the obligats'on can be measured reltatAy. E¥pendrture 15 dassifivd under the following acbvity headin9S" Costs of raising funds comprise of tr&ting costs an(1 the cosls Inrred by the chantable company in induong third parties to make voluntary contributions lo it. as well as Ihe cost of any acbwlies wth a fundraising purpose. Expenditure on charItae activities indvdes the costs of activities undertaken to lurther Ihe Purposes ol the chanty and their associ8ted support costs. Other expenditu preSentS those items not falling into any other headJ. Irrecoverable VAT 15 charged as a cosl against Ihe acb.wty lor which the exwmlilure was Ir1r1ed. 11 Alloutkn al •upwt costs Support costs are those fundions that assist the wck of the charily tsJt do not direcily undertake chanlable aGtsvttses. Support Cosls Include back oifiGe Gosis. finanrx, personnel, Pa1 antl governance cosis which support the chanly and Ils and activib"es. These c05t5 have been allocated between cost of raising lund5 and expenditure on thant3ble 3CtMties. The bases on which support costs have been allocated are set out in nole 6. 11 0119 l•a Rental charges are charged on a straight line basis over the temi of the lease. k) Tanglbl• fix•d as••ts Items ol equipmenl are capitalised vthere the purchase price exceeds £1.000. DepreciatK)n is provided at rales calculated lo wrile down ihe cost of each asset to its estimated residual value over ts expected useful lrfe. The depferyati rates in use are as folli>ws". Office equipment 25% l) Sto¢k• Stock is Includèd at thè k)wer of cosl or rwt rnalisable value. Dmatgd rtems ol $1(K* arg ro¢(yJn1$9d at fair valuè which is the amount tho charity would have been V•illing lo pay for the rtems on the open market. m) D•btorn Trade and other deblofs a recognised at Ihe settlement affKyJnt due aftèr any trade discount offered. Prepayments are valued at the amount prepaid n8t of any trade discounts du8. n) Gish at bank and In hand C35h at bank and cash In hand inckJde5 cash and Short lefm highly liquid inveslments wth a short maturity of three months or less frcrfn the te of acquisrtion or opening ol the deposit or ymilar accounl. o) Crndltor¥ •nd provl•lon• C¥editors and provistons a rec(4nise(I Whtr the ¢h8wity has a present d)IwJ8tion 5V1b'n9 frorn a p8St event that will probAbly restslt in the transfer of funds lo a third paty and Ihe 8moLsnt due fo sett the ObligaD. can be measured or esb"mateO reliably. Creditors and provisions are normally recognised at their 5eltbement amoLtnl after allowng lor any irade discounts due.
Tho Danoford Tfust Not•s to th• fin•ncl•l ststom For the yr endod 31 Decembor 2023 Totsl Donations and legac485 Funéraising Inv8Stmeni incom8 21.329 21.329 21.32• 21Jl• Raisrig lunds Chanlabk actitIeS 25.6(Kl 25.6LYJ Il•f Incoffvj I 4371 Transfe 4,271 4.271 Total lunds h1 f(Thard 51. 60.373 4Q797 ¥102 2022 ZB.828 28 828 21,329 21.329 Totsi donal1$ 12
The Daneford Trust Notes to the Ilnanclal statsments For the year ended 31 December 2023 Anatysls ol •xp•ndltur• Cosl of raising lunds Chartsble activrts Support [ts 2023 T¢1 2021 Total Fundraising costs Gran15 payable Su ort costs Rent and fates Volunteers. Costs Education & Promotion.. thjtrea Telephone Postage and stalionery IT equipment Sundry Independent Examinerfs Fees Bookkeeping Trustees expenses Legal and Professional 15,956 15,956 3.996 5,031 1,261 811 22 5.031 1.261 4.614 165 791 119 357 1.800 1.620 300 35 1,8110 1.620 2,004 726 Ti>tal •xp•ndlthr• 2023 15,956 14,876 25,600 Of the lolal expenditure. £30,832 vras unreslricted12022-. £25.6001 and Nil was restricted (2022." Nill. 4a Analysis OT expen(Jiiure (prior yeari C05t of raising funds Charrtable activities SuppKJrt costs 21r22 Tatal 2021 Total Fundraising cos15 Grants payablè Su rt costs Rent and rates Volunteers. Costs Education & Promoti. Outrea Telephone Postage and statsonery IT equipment Sundry Independent Examinerfs Fees Bookkeeping Trustees expenses Legal and professional 5.483 IT20 3.306 4.614 8,165 791 119 357 2.376 3,755 4,614 8.165 791 592 301 726 190 Tolal oxpendltur• 2021 5,483 20.117 25.600 13.969 Of the total expenditure. £25,600 was unrestn"cted12021'. £13.019} and Nil was restn"cted12021.. £9501.
The Daneford Trust Notes to the flnanclal ststemonts For the year ended 31 December 2023 Net In¢om¢ l (•xpendltur•) for th• year Thi5 15 stated after charging l (crediting)". 2023 2022 Operating lease rentals.. Property Independent Examination 3.306 2.004 1.800 Analysls of staff ¢o*ts, tru•t•• rnmunoratlon and oxp•n•M. and th• ¢t of k•y m•nag•ment Pern11 Staff costs were as follows.. 2023 2022 Salaries and wages Social security costs Trustees did not receive a remuneration during the yeaf12022.'Nill. There were no employee benefits paymenls lo key management perscmnel in the year (2022.. Nill. Trustees have been reimbursed £300 in the year {2022: Nill. The average number of employees (head cnunt based on number of staff employed) during the year was as follows.. 2023 2022 No. Charilable activities Taxatlon The charitable company is exempl from corForats'on tax as all ils income is charitable and is applied for charitable purposes. Tanglbk flx•d aM•l• Plant and machinery Total Cost At the start of the year Addition5 in year Disposals in year At the end of the year 9.202 9,202 9,202 9,202 Depreclallon At the start of the year Charge for the year Eliminated on disposal Al the end of the year 9,202 9,202 9,202 9,202 Net book valu• At th• •nd of th• y•ar Al the start of the year
The Daneford Trust Notes to the flnanclal statements For the year ended 31 December 2023 Stock 2023 2022 Finished goods 150 150 150 150 2023 2022 10 Dobtors Gift Aid Accrual 8,310 8.310 11 Cr•dltorn: amounts falllng du• wlthln om y•ar 2023 2022 Accrua15 1.000 1,000 1,000 12 Ana18 of n•t b•tw••n lunds General unrestricted Designated Total funds Restricted Net Cuent assets N•t ass•ts at th• •nd of th• y•ar 44.793 44793 9,305 9.305 54.098 54,098 120 Anatysls of not asMts b•t¥Mon fvnd• (wlor y•ar) General unreslncted Designated Totsl funds Restricted Nel current assets Net ass•ts at tho •nd of th• y•ar 46,797 46.797 9,305 9.305 56,102 56.102 13 Movements In funds Ai the start of the year At th• end of th• y•ar Income Expenditure Transfers R•slrfct•d funds: Restricted funds 9.305 9.305 Total r•strlct•d fund• 9.305 9.305 G•neral fund• 46.797 28,828 {30.8321 44,793 T•)tsl unrnslrfct•d funds 46,797 28.828 30,832 44,793 Total lund• $6,102 28.828 30.832 54,098
The Daneford Trust Notes to the flnanclal statements For the year ended 31 December 2023 13a Movements In fund• Iprlor y•ar) At the start of the year At the •nd of the year Income Expendilure Transfers Restrletsd lunds: Restricted funds 9,305 T¢)tsl re•trlcl•d funds 9,305 9,305 General funds 51,068 21.329 (25.600) 46,797 Total unrestrbcted funds 51,068 21.329 25.61)0 46,797 Total fund• 60,373 21.329 25.600 56,102 Purpos•s of r•8trlct•d funds Lorraln• And•r•on M•morlal Fund: Funds musl be given directly lo individualslgroups of young people on the Overseas Volunteer Programrne. Awards of £300- 600 a usually awarded. Lorraine Ander50n Fund is a legacy of Lorraine Anderson who passed away- the fund was set up in her name to promote volunteering and active citizenship. The founders request project reports and invites lo events and presentations as a reportiNJ method. Pamela Leung Arts Scholarshlp: Scholarship s are lo be awarded to individualslgroups ol young people on the Overseas Volunteer Programme, who 15 undertaking a project which promotes the 'Arts'. There 15 no typical size grant given, as it is dependent on the nature and duration of project. Funds were given lo the Trust from a fom)er Trustee who's wfe passed away - the fund is a acY of Pamela Leung and her love of the Arts. Slmon'• Charlty: Fund5 must be given d1Ctty to individualslgroups of young people on the Overseas Volunteer Programme. Funds may be carried foMard frorn one year to the next if for any reason the intended young personlsl is not able to undertake their project. Awards of around £200-250 are usually awarded. Simon's Charity is a Small independent family run charity. 14 Logal status of the charlty The charity is a company limite(I by guarantee and has no share capital. Each fflember is liable to contribute a sum not exceeding £1 in the event of the charity being wound up. 15 R•lat•d party transactlons There are no related party transaclions to disclose for 2023 (2022: none).