Company registration number: 04404798 Charity registration number: 1097599
Verity The Polycystic Ovaries Self Help Group
known as
Verity
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2023
Smart Accounting & Tax Solutions LLP Chartered Accountants 74A Station Road East Oxted Surrey RH8 0PG
Verity The Polycystic Ovaries Self Help Group
known as Verity
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 5 |
| Accountants' Report | 6 |
| Statement of Financial Activities | 7 to 8 |
| Balance Sheet | 9 to 10 |
| Notes to the Financial Statements | 11 to 22 |
Verity The Polycystic Ovaries Self Help Group
known as Verity
Reference and Administrative Details
| Charity Registration Number | 1097599 |
|---|---|
| Company Registration | 04404798 |
| Number | |
| The charity is incorporated in England & Wales. | |
| Registered Office | 74A Station Road East |
| Oxted | |
| Surrey | |
| RH8 0PG | |
| Accountants | Smart Accounting & Tax Solutions LLP |
| Chartered Accountants | |
| 74A Station Road East | |
| Oxted | |
| Surrey | |
| RH8 0PG |
Page 1
Verity The Polycystic Ovaries Self Help Group
known as Verity
Trustees' Report
The Trustees, who are Directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the Charitable Company for the year ended 31 March 2023.
Objectives and activities
Objects and aims
The principal activity & objectives of the Company in the year under review was that of the provision of information and advice regarding polycystic ovaries & polycystic ovarian syndrome. This is provided as printed booklets, via our website. Verity has an active social media presence providing peer group support. The Charity continued to work with Monash University on the updated International Evidence-Based Guidelines for the Assessment and Management of Polycystic Ovary Syndrome 2023, and with the Androgen Excess and Polycystic Ovary Syndrome (AE-PCOS) Society. Nationally, the Charity is part of the Women’s Health Coalition in Wales and was invited to 10 Downing Street to discuss the Women’s Health Strategy England. The Charity maintained international and national collaborations with other patient advocacy groups, and with medical researcher teams as co-applicants on several major research projects.
Public benefit
During the year the Charity has reached approximately 29,300 users on Facebook and approximately 31,000 users on Instagram. The website received approximately 35,000 unique views. Additionally, 144 information packs with booklets regarding polycystic ovarian syndrome were distributed to supporters. The Board of Trustees continue to liaise with the advisory board of medical experts to promote awareness of the condition and the most beneficial treatments for those who suffer from it.
The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 2
Verity The Polycystic Ovaries Self Help Group
known as Verity
Trustees' Report
Trustees and officers
The Trustees and officers serving during the year and since the year end were as follows:
Trustees: R Morman, Chairman C Andrews K E Morris (resigned 2 July 2022) A J Wilcox T Costello (appointed 2 July 2022 and resigned 29 March 2023) N J Smart (appointed 30 April 2022)
Secretary: C Andrews
Structure, governance and management
Nature of governing document
This is a Company limited by guarantee of the Members and does not have any share capital.
The Company was constituted in April 2003 and is governed by its Memorandum and Articles of Association.
Recruitment and appointment of Trustees
Supporters are asked annually if they wish to become a Trustee, and are elected by a vote of the members at the Annual General Meeting, or co-opted by the Board, in accordance with the Memorandum and Articles of Association.
Arrangements for setting key management personnel remuneration
The Trustees are not remunerated and are only reimbursed for valid expenditure incurred on behalf of Verity, of whom three have been reimbursed for a total of £7,792 (2022 £4,157) expended on behalf of Verity during the year. The Charity does not have any staff and all volunteers are only reimbursed for expenses incurred on behalf of the Charity.
Page 3
Verity The Polycystic Ovaries Self Help Group
known as Verity
Trustees' Report
Financial instruments
Objectives and policies
The Charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the Charity’s policies approved by the Board of Trustees, which provide written principles on the use of financial derivatives to manage these risks. The Charity does not use derivative financial instruments for speculative purposes.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of Verity The Polycystic Ovaries Self Help Group for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; 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 can disclose with reasonable accuracy at any time the financial position of the charitable company and 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.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Page 4
Verity The Polycystic Ovaries Self Help Group
known as Verity
Trustees' Report
Disclosure of information to auditor
Each member has taken steps that they ought to have taken as a member in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The Trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
The annual report was approved by the Trustees of the charity on 18 December 2023 and signed on its behalf by:
......................................... N J Smart Trustee
Page 5
Chartered Accountants' Report to the Trustees on the Preparation of the Unaudited Statutory Accounts of Verity The Polycystic Ovaries Self Help Group for the Year Ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Verity The Polycystic Ovaries Self Help Group for the year ended 31 March 2023 as set out on pages 7 to 22 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW) we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Verity The Polycystic Ovaries Self Help Group, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Verity The Polycystic Ovaries Self Help Group and state those matters that we have agreed to state to the Board of Directors of Verity The Polycystic Ovaries Self Help Group, as a body, in this report, in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Verity The Polycystic Ovaries Self Help Group and its board of directors as a body for our work or for this report.
It is your duty to ensure that Verity The Polycystic Ovaries Self Help Group has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and of Verity The Polycystic Ovaries Self Help Group. You consider that Verity The Polycystic Ovaries Self Help Group is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Verity The Polycystic Ovaries Self Help Group. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Smart Accounting & Tax Solutions LLP Chartered Accountants 74A Station Road East Oxted Surrey RH8 0PG 18 December 2023
Page 6
Verity The Polycystic Ovaries Self Help Group
known as Verity
Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investment income 6 Total income Expenditure on: Raising funds 7 Charitable activities 8 Other expenditure 9 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18 |
Unrestricted funds £ 21,696 830 138 522 23,186 1 (7,868) (3,707) (11,574) 11,612 11,612 48,877 60,489 |
Restricted funds £ 27,450 - - - 27,450 (4,713) - - (4,713) 22,737 22,737 - 22,737 |
Total 2023 £ 49,146 830 138 522 |
|---|---|---|---|
| 50,636 | |||
| (4,712) (7,868) (3,707) |
|||
| (16,287) | |||
| 34,349 | |||
| 34,349 48,877 |
|||
| 83,226 |
The notes on pages 11 to 22 form an integral part of these financial statements. Page 7
Verity The Polycystic Ovaries Self Help Group
known as Verity
Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Total income Expenditure on: Raising funds 7 Charitable activities 8 Other expenditure 9 Total expenditure Net expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18 |
Unrestricted funds £ 20,127 2,220 403 22,750 (15,091) (8,862) (4,499) (28,452) (5,702) (5,702) 54,579 48,877 |
Total 2022 £ 20,127 2,220 403 |
|---|---|---|
| 22,750 | ||
| (15,091) (8,862) (4,499) |
||
| (28,452) | ||
| (5,702) | ||
| (5,702) 54,579 |
||
| 48,877 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 18.
The notes on pages 11 to 22 form an integral part of these financial statements. Page 8
Verity The Polycystic Ovaries Self Help Group
known as Verity
(Registration number: 04404798) Balance Sheet as at 31 March 2023
| Note Fixed assets Investments 14 Current assets Debtors 15 Cash at bank and in hand 16 Creditors: Amounts falling due within one year 17 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 18 |
2023 £ 1 1,629 84,126 85,755 (2,530) 83,225 83,226 22,737 60,489 83,226 |
2022 £ - 5,792 44,950 |
|---|---|---|
| 50,742 (1,865) |
||
| 48,877 | ||
| 48,877 | ||
| - 48,877 |
||
| 48,877 |
The notes on pages 11 to 22 form an integral part of these financial statements. Page 9
Verity The Polycystic Ovaries Self Help Group
known as Verity
(Registration number: 04404798) Balance Sheet as at 31 March 2023
For the financial year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 7 to 22 were approved by the Trustees, and authorised for issue on 18 December 2023 and signed on their behalf by:
......................................... N J Smart Trustee
The notes on pages 11 to 22 form an integral part of these financial statements. Page 10
Verity The Polycystic Ovaries Self Help Group
known as Verity
Notes to the Financial Statements for the Year Ended 31 March 2023
1 Charity status
The charity is limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the Trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: 74A Station Road East Oxted Surrey RH8 0PG
These financial statements were authorised for issue by the Trustees on 18 December 2023.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Verity The Polycystic Ovaries Self Help Group meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Page 11
Verity The Polycystic Ovaries Self Help Group
known as Verity
Notes to the Financial Statements for the Year Ended 31 March 2023
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Page 12
Verity The Polycystic Ovaries Self Help Group
known as Verity
Notes to the Financial Statements for the Year Ended 31 March 2023
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including accountancy, strategic management and trustees’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax 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.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Equipment
Depreciation method and rate 25% reducing balance
Impairment of fixed assets
Intangible and tangible fixed assets are reviewed for impairment when changes in circumstances or events indicate that the carrying value of the fixed assets may not be recoverable. An impairment loss is recognised where the recoverable amount is less than the carrying value.
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at cost at the balance sheet date.
Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
Page 13
Verity The Polycystic Ovaries Self Help Group
known as Verity
Notes to the Financial Statements for the Year Ended 31 March 2023
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the Trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 14
Verity The Polycystic Ovaries Self Help Group
known as Verity
Notes to the Financial Statements for the Year Ended 31 March 2023
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Page 15
Verity The Polycystic Ovaries Self Help Group
known as Verity
Notes to the Financial Statements for the Year Ended 31 March 2023
3 Income from donations and legacies
| Unrestricted funds General £ Donations and legacies; Donations from individuals 12,901 Gift aid reclaimed 2,595 Grants, including capital grants; Grants from other charities 6,200 21,696 4 Income from charitable activities Information packs 5 Income from other trading activities Trading income; Sales of goods and services Other income from other trading activities |
Restricted funds £ - - 27,450 27,450 Unrestricted General £ 830 Unrestricted funds General £ 138 - 138 |
Total 2023 £ 12,901 2,595 33,650 49,146 Total 2023 £ 830 Total funds £ 138 - 138 |
Total 2022 £ 19,009 1,118 - |
|---|---|---|---|
| 20,127 | |||
| Total 2022 £ 2,220 |
|||
| Total 2022 £ 375 28 |
|||
| 403 |
Page 16
Verity The Polycystic Ovaries Self Help Group
known as Verity
Notes to the Financial Statements for the Year Ended 31 March 2023
6 Investment income
| Interest receivable and similar income; Interest receivable on bank deposits 7 Expenditure on raising funds |
Unrestricted funds General £ 522 |
Total 2023 £ 522 |
|---|---|---|
a) Costs of trading activities
| Costs of goods sold Bad debts written off Revaluation of investment in subsidiary |
Unrestricted General £ - - (1) (1) |
Restricted £ 4,713 - - 4,713 |
Total 2023 £ 4,713 - (1) 4,712 |
Total 2022 £ 590 14,500 1 |
|---|---|---|---|---|
| 15,091 |
Page 17
Verity The Polycystic Ovaries Self Help Group
known as Verity
Notes to the Financial Statements for the Year Ended 31 March 2023
8 Expenditure on charitable activities
| Note Computer software and maintenance costs Printing, postage and stationery Travel and subsistence Venue hire Just giving costs Governance costs 10 |
Unrestricted General £ 908 932 4,576 - 162 1,290 7,868 |
Total 2023 £ 908 932 4,576 - 162 1,290 7,868 |
Total 2022 £ 523 3,517 10 195 18 4,599 |
|---|---|---|---|
| 8,862 |
In addition to the expenditure analysed above, there are also governance costs of £1,290 (2022 - £4,599) which relate directly to charitable activities. See note 10 for further details.
9 Other expenditure
| Note Depreciation, amortisation and other similar costs Allocated support costs |
Unrestricted General £ - 3,707 3,707 |
Total 2023 £ - 3,707 3,707 |
Total 2022 £ 97 4,402 |
|---|---|---|---|
| 4,499 |
Page 18
Verity The Polycystic Ovaries Self Help Group
known as Verity
Notes to the Financial Statements for the Year Ended 31 March 2023
10Analysis of governance and support costs
Governance costs
Unrestricted
| Accountancy fees Cost of trustee meetings Travel cost of trustee meetings |
General £ 224 415 651 1,290 |
Total 2023 £ 224 415 651 1,290 |
Total 2022 £ 1,800 1,932 867 |
|---|---|---|---|
| 4,599 |
11Net incoming/outgoing resources
| Net incoming/(outgoing) resources for the year include: Revaluation of investment in subsidiary Depreciation of fixed assets |
2023 £ (1) - |
2022 £ 1 97 |
|---|---|---|
12Trustees remuneration and expenses
During the year the charity made the following transactions with Trustees:
No Trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any other benefits from the charity during the year.
The amount of expenses paid to Trustees during the year totalled £7,792 (2022 - £4,157).
13Taxation
The charity is a registered charity and is therefore exempt from taxation.
Page 19
2023 £ 1
Verity The Polycystic Ovaries Self Help Group
known as Verity
Notes to the Financial Statements for the Year Ended 31 March 2023
14Fixed asset investments
Shares in group undertakings and participating interests
Details of undertakings
Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows:
| Undertaking Country of incorporation Holding Proportion of voting rights and shares held 2023 2022 Subsidiary undertakings PCOS UK Limited England and Wales Ordinary 100% 100% 15Debtors 2023 £ Trade debtors 10 Prepayments - Other debtors 1,619 1,629 16Cash and cash equivalents 2023 £ Cash at bank 60,324 Short-term deposits 23,802 84,126 |
Principal activity Health advice fundraising 2022 £ - 210 5,582 |
|---|---|
| 5,792 | |
| 2022 £ 42,505 2,445 |
|
| 44,950 |
Page 20
Verity The Polycystic Ovaries Self Help Group
known as Verity
Notes to the Financial Statements for the Year Ended 31 March 2023
17Creditors: amounts falling due within one year
| Trade creditors Accruals 18Funds Unrestricted funds General Restricted funds Total funds Unrestricted funds General |
Balance at 1 April 2022 £ 48,877 - 48,877 Balance at 1 April 2021 £ 54,579 |
Incoming resources £ 23,186 27,450 50,636 Incoming resources £ 22,750 |
2023 £ 441 2,089 2,530 Resources expended £ (11,574) (4,713) (16,287) Resources expended £ (28,452) |
2022 £ - 1,865 |
|---|---|---|---|---|
| 1,865 | ||||
| Balance at 31 March 2023 £ 60,489 22,737 |
||||
| 83,226 | ||||
| Balance at 31 March 2022 £ 48,877 |
Page 21
Verity The Polycystic Ovaries Self Help Group
known as Verity
Notes to the Financial Statements for the Year Ended 31 March 2023
19Analysis of net assets between funds
| 19Analysis of net assets between funds | |||
|---|---|---|---|
| Fixed asset investments Current assets Current liabilities Total net assets Current assets Current liabilities Total net assets 20Analysis of net funds Cash at bank and in hand Net debt Cash at bank and in hand Net debt |
At 1 April 2021 £ 35,589 35,589 |
Unrestricted funds General £ 1 85,755 (2,530) 83,226 Unrestricted funds General £ 50,742 (1,865) 48,877 At 1 April 2022 £ 44,950 44,950 Financing cash flows £ 10,056 10,056 |
Total funds at 31 March 2023 £ 1 85,755 (2,530) |
| 83,226 | |||
| Total funds at 31 March 2022 £ 50,742 (1,865) |
|||
| 48,877 | |||
| At 31 March 2023 £ 44,950 44,950 At 31 March 2022 £ 45,645 45,645 |
Page 22