Charity registration number 1097305
Company registration number 03825493 (England and Wales)
WIMBLEDON COMMUNITY ASSOCIATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
WIMBLEDON COMMUNITY ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr D Hall |
|---|---|
| Mrs J Chapman | |
| Mr K Schneider | |
| Ms K J Warwick (Appointed 10 November 2023) | |
| Secretary | Mrs J Chapman |
| Charity number | 1097305 |
| Company number | 03825493 |
| Principal address | c/o 66 Kings Road |
| Wimbledon | |
| London | |
| SW19 8QW | |
| Registered office | St Christopher House |
| Tabor Grove | |
| Wimbledon | |
| London | |
| SW19 4EX | |
| Independent examiner | Frances Wilde FCCA DChA |
| Warner Wilde | |
| Chartered Certified Accountants | |
| 4 Marigold Drive | |
| Bisley | |
| Surrey | |
| GU24 9SF | |
| Bankers | Santander - Bootle |
| Bootle | |
| Merseyside | |
| L30 4GB | |
| Solicitors | Gregsons Solicitors |
| St Christopher House | |
| Tabor Grove | |
| Wimbledon | |
| London | |
| SW19 4EX |
WIMBLEDON COMMUNITY ASSOCIATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 14 |
WIMBLEDON COMMUNITY ASSOCIATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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)".
Objectives and activities
Following the closure of the St Georges Road community centre in 2012 and subsequent transfer of its interest in the site in June 2013 the WCA has been unable to directly provide physical community facilities. Following a wide-ranging consultation, the trustees launched a new website, Wimblecomm, in September 2016 to support the provision of community space and promote community activities.
This was refocused towards supporting the organisations and providing helpful information and positive stories as a consequence of the Covid 19 lockdown in March 2020. We extended membership to a new category of community groups in 2021.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the WCA should undertake.
The trustees are mindful of keeping the mix heavily in favour of public benefit and are focussed on supporting the provision of facilities to meet those aims. Among the objectives of community users are health, education, sporting, arts, social and self-help.
Achievements and performance
The last financial year and subsequent months have seen a number of changes for the WCA.
Our team of trustees was joined in November 2023 by Kirsty Warwick making four trustees in total now. We employed a temporary member of staff, Ruth Elora at the start of 2023, before recruiting a Communications Executive, Kimberley Ellis, who joined us in June 2023. Sadly, for us Kimberley was headhunted and left at the end of December 2023. After two months in which Jackie Chapman kindly stepped into the role as a volunteer, we were pleased to recruit Natalie Romero to the new permanent role in February 2024.
Notwithstanding these changes and other challenges, we saw a significant increase in website activity in 2023/24 with interactions almost doubling based on Google’s stats format at that time. Further recent changes by Google have led to us reassessing the historic statistics. Referrals to venues have dipped slightly following the surge after lockdown but overall referrals from our site to member venues nevertheless broke through the 3,000 barrier in November 2023.
We have continued with several short video interviews, blogs, articles and other pieces telling the stories of people past and present and other events that have been an inspiration to our community. We are still posting regular vacancies on our recruitment section advertising paid and voluntary vacancies for our members. Our Chair, David Hall, started a weekly blog for 2024 in January which is still going. We also commenced a restructuring of the website. This was finally launched in September 2024.
In addition to this we took the bold decision early in 2024 to plan and host a hustings for the general election which took place successfully in Wimbledon in June 2024 at Merton Arts Space.
Our community group section is continuing to prove popular with an ever-growing number of groups registering. Our social media presence continues to expand on X (formerly Twitter), Instagram and Facebook. We have also relaunched our monthly newsletter during 2024.
We continue to be a voluntary member of the Merton Community Champions programme (started during lockdown) and have developed an individual subscriber option to add to our growing network and disseminate information through our newsletters. We also had a stand at the Merton Heritage event in August 2023 and attended the Canons Fair that summer alongside various other community events.
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WIMBLEDON COMMUNITY ASSOCIATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
The WCA was previously able to facilitate major work with a number of groups before the closure of the old centre. Groups which it has previously supported include the following: adults with learning difficulties; homeopathic clinics; martial arts; drama; music appreciation, current affairs and art for older people; WAAFA; Scottish dance; alcoholics anonymous; drink awareness courses; cultural groups; athletics, football and Korfball clubs; flower club; women's groups; choir practice; English language courses for overseas students; blood donor sessions; local electoral services; fetes; residents associations; Urdu language and poetry; wedding and other receptions; first aid courses; animal welfare; ramblers; Bridge; Pythagoreans; flag days; and Zumba exercise gatherings.
The WCA is seeking to ensure that it continues to support the provision of facilities for as many of these groups (and others) as possible via Wimblecomm and believe that the website is a constructive way with which to promote the community facilities in the area and maintain its previous legacy. However, we also continue to challenge ourselves to be increasingly involved within the community to be more than an online presence.
Financial review
Since the closure of the St Georges Road centre in 2012 and the disposal of its interest to Merton Council in 2013, the WCA has supported itself through an investment of a large proportion of its funds (£600,000) in the CCLA. The fund value increased by £80,900 from about £892,300 in March 2023 to £973,200 in March 2024 although it has subsequently dipped slightly to £965,400 (as at September 2024).
Dividends from the fund and interest generated around £26,500 in 2023/24. Total costs were around £28,000.
Total reserves at 31 March 2024 were £1,035,419.
Alongside the dividend income the charity continues to be supported by a substantial number of volunteer hours from the trustees and other occasional volunteers. We continue to explore other ways in which we can generate income from donations, grant funding and other sources.
Plans for the future
Jackie Chapman and David Hall have now been serving the WCA for 12 years and we continue to review succession plans alongside the charity’s longer-term options and welcome any new trustees or volunteers to support out work.
Following another successful AGM at the Canons in Mitcham in 2023 we are planning to hold this year’s AGM at Merton Arts Space alongside a fun quiz evening. The AGM will also be an opportunity to discuss with members how the WCA and Wimblecomm might develop in future.
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WIMBLEDON COMMUNITY ASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WIMBLEDON COMMUNITY ASSOCIATION I report to the Iruslees on my examinati¢n of the financial stat&mènt$ of Wimbledon Communty Association Ilhe charity) for the yèar ended 31 March 2024. R8sponslbllltlès and basls of report As the Injstees of the ¢harity land also its directtsrs for the purposes ol company lawl you are responsible for th8 preparation of the financial statements in 8¢¢ordance wjth the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied mysalf that the financial stat8m8nts of the charity are not requSrad lo be audited under Part 16 of the 2006 Act and arè eligible for independant 8xamin8tion, l Teport in respect of my examination of the ch8rity's financial siatements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under strdlon 14515llbl of the 2011 Act. An examination includes a revlew of the accounting records kept by the charity and a comparison of the accounts presented with thos8 records. It also indudes consideration of any unusual it8ms or disclosuS in the accounts, and seeking 8xplan8lions from the trusteès conceming any such mattars. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequenlly no opinion is glven as to whether the accounts prestrnl a 'true and fair. vlew and the report is limited to th05fj atterS set out In the statement b810w. Indèpendent examlnorfs ststemgnt I have completed my examination. l Confirrn that no matters have Come lo rny attention in connecknn with the èxarnination giving me cause to believe that in any mat8rial respect.. aceoLJnting records were not k8pt in respect of the charity 8$ required by section 386 of th8 2006 Act., or the financial ststements do not accord with those records., or the financial statements do not comply with th8 accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts gIV8 a true and fair view which Is ntsl 8 matter considered as part of an independent 8xamination', or the financial statetnents have not been prepared in accordance wSth th8 methods and principles of the Statement ol Rec(>tNrnended Practice for accounting and reporting by charities applicable to charities preparing their aeeounls in accordance with the Financial Reptsrtlng Stsndard applicable in tha UK 8nd Republic of Ireland IFRS 1021. I havè no Concerns and have comg across no other m8tt8rs in connection with the examination lo which attentlon shoul($ be drawn in this report in ord8r to enable a propèr und8rslanding of the financlal ststements to be reached. Frances Wlldo FCCA DChA Warner Wiklg Charterad Cartified Accountants 4 Marigold Drfvg Bisley Surrtry GU24 9SF Dated= .........................
WIMBLEDON COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | - | 2,500 |
| Charitable activities | 4 | - | 94 |
| Investments | 5 | 26,573 | 32,520 |
| Total income | 26,573 | 35,114 | |
| Expenditure on: | |||
| Raising funds | 6 | 546 | 653 |
| Charitable activities | 7 | 27,500 | 31,989 |
| Total expenditure | 28,046 | 32,642 | |
| Net gains/(losses) on investments | 11 | 80,773 | (35,095) |
| Net income/(expenditure) and movement in funds | 79,300 | (32,623) | |
| Reconciliation of funds: | |||
| Fund balances at 1 April 2023 | 962,658 | 995,281 | |
| Fund balances at 31 March 2024 | 1,041,958 | 962,658 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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WIMBLEDON COMMUNtfY ASSOCIATION BALANCE SHEEr ASAT31 MARCH 2024 14 9TJ219 15 7.181 58.675 7.521 CoBh at bonk and kn hd 11645 on• y••r (1.1 (2.W3) N•t ¢urr•nt M••l• 68.739 70.326 1.041.950 Th• fftd• alth• 1,041.958 962.658 1J)41,958 2CTh. for tho rnr ond•d 31 MArth 2024. M0 hava roqu¥ the c(ThP to oblw ) of ffin1 atwl) for tr9 yr in qu8#titin in aco)rdance wilh ion 476. Ciynpany ragswi nunts 03825493 {Eryl•KI WKI Wths)
WIMBLEDON COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
Charity information
Wimbledon Community Association is a private company limited by guarantee incorporated in England and Wales. The registered office is St Christopher House, Tabor Grove, Wimbledon, London, SW19 4EX.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
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WIMBLEDON COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
3 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at the cash or other consideration expected to be received and not discounted. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. They are subsequently carried at the cash or other consideration expected to be paid and not discounted.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at at the cash or other consideration expected to be paid and not discounted.
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WIMBLEDON COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Grants | - | 2,500 |
4 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Charitable activities | ||
| Other income | - | 94 |
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WIMBLEDON COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
5 Income from investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Income from listed investments | 26,046 | 32,385 |
| Interest receivable | 527 | 135 |
| 26,573 | 32,520 |
6 Expenditure on raising funds
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Fundraising and publicity | ||||
| Other fundraising costs | 546 | 653 | ||
| 7 | Charitable activities | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Share of support costs (see note 8) | 26,178 | 29,884 | ||
| Share of governance costs (see note 8) | 1,322 | 2,105 | ||
| 27,500 | 31,989 |
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WIMBLEDON COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
8 Support costs allocated to activities
| Support costs allocated to activities | ||
|---|---|---|
| Staff costs Storage costs Bank charges Website and internet Sundry office and other costs Insurance Subcontract staff Governance costs Analysed between: Charitable activities |
2024 £ 13,518 1,405 90 4,392 279 421 6,073 1,322 27,500 27,500 |
2023 £ 16,589 2,017 90 5,200 511 416 5,061 2,105 |
| 31,989 | ||
| 31,989 |
The independent examiner cost included in governance costs is £730+VAT for the preparation and independent examination of the accounts (2023: £705+VAT),
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration during the year, none of them were reimbursed expenses.
10 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| 1 | 1 | |
| Employment costs | 2024 | 2023 |
| £ | £ | |
| Wages and salaries | 13,261 | 16,278 |
| Other pension costs | 257 | 311 |
| 13,518 | 16,589 |
The Charity employed one part time member of staff equivalent to 0.6 of a full time employee.
There were no employees whose annual remuneration was more than £60,000.
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WIMBLEDON COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11 Gains and losses on investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| Gains/(losses) arising on: | £ | £ |
| Revaluation of investments | 80,773 | (35,095) |
The historic cost of the investments is £600,000.
12 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
13 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Computers | |
| £ | |
| Cost | |
| At 1 April 2023 | 1,032 |
| At 31 March 2024 | 1,032 |
| Depreciation and impairment | |
| At 1 April 2023 | 1,032 |
| At 31 March 2024 | 1,032 |
| Carrying amount | |
| At 31 March 2024 | - |
| At 31 March 2023 | - |
WCA was entitled to 1/3 of the proceeds on disposal of the community centre building situated at 28 St George Road, Wimbledon. Negotiations with the London Borough of Merton were concluded in June 2013 following an independent valuation, and a payment of £816,667 less cost deductions was paid to WCA for its interest in the property.
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WIMBLEDON COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
14 Fixed asset investments
| Cost or valuation At 1 April 2023 Valuation changes At 31 March 2024 Carrying amount At 31 March 2024 At 31 March 2023 15 Debtors Amounts falling due within one year: Other debtors Prepayments and accrued income 16 Current asset investments Unlisted investments 17 Creditors: amounts falling due within one year Other taxation and social security Other creditors Accruals and deferred income 18 Retirement benefit schemes Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes |
Unlisted investments £ 892,332 80,887 973,219 973,219 892,332 2024 2023 £ £ 6,539 6,439 642 594 7,181 7,033 2024 2023 £ £ 50,000 58,675 2024 2023 £ £ 129 - 81 - 877 2,903 1,087 2,903 2024 2023 £ £ 257 311 |
|---|---|
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WIMBLEDON COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
18 Retirement benefit schemes
(Continued)
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
19 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
20 Prior period adjustment
Changes to the balance sheet
| Changes to the balance sheet | |||
|---|---|---|---|
| At | 31 March 2023 | ||
| As previously | Adjustment | As restated | |
| reported | |||
| £ | £ | £ | |
| Current assets | |||
| Debtors due within one year | 594 | 6,439 | 7,033 |
| Capital funds | |||
| Income funds | |||
| Unrestricted funds | 956,219 | 6,439 | 962,658 |
| Total equity | 956,219 | 6,439 | 962,658 |
| Changes to the profit and loss account | |||
| Period ended 31 March | 2023 | ||
| As previously | Adjustment | As restated | |
| reported | |||
| £ | £ | £ | |
| Investments | 26,081 | 6,439 | 32,520 |
| Net movement in funds | (39,062) | 6,439 | (32,623) |
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