REGISTERED COMPANY NUMBER: 04677597 (England and Wales)
REGISTERED CHARITY NUMBER: 1097757
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
FOR
SKEGNESS DAY CENTRE LIMITED
SKEGNESS DAY CENTRE LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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Reference and Administrative Details |
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Report of the Trustees |
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to |
3 |
Independent Examiner's Report |
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4 |
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Statement of Financial Activities |
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5 |
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Statement of Financial Position |
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6 |
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Notes to the Financial Statements |
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to |
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SKEGNESS DAY CENTRE LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 MARCH 2023
TRUSTEESM Allen Chairman
P N McCooey Chartered Accountant
Mrs T Hill Wills And Probate Specialist
P Hayes Civil Servant
S Perera Chartered Physiotherapist
REGISTERED OFFICE27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT
REGISTERED COMPANY NUMBER 04677597 (England and Wales)
REGISTERED CHARITY NUMBER 1097757
INDEPENDENT EXAMINERKeith May Accounting Services
Aura Business Centre
Heath Road
Skegness
Lincolnshire
PE25 3SJ
Page 1
SKEGNESS DAY CENTRE LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreportwith the
financialstatementsof the charityforthe yearended 31 March2023.The financialstatementshavebeen preparedin accordance
withtheAccountingandReportingbyCharitiesstatementofRecommendedPracticeapplicabletocharitiespreparing their
accountsin accordancewith the FinancialReportingStandard for Smaller Entities published on 16 July 2014, the Financial Reporting
Standard for Smaller Entities (effective January 2015), the Charities Act 2011 and the Companies Act 2006.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are: -
"amulti-purposedaycentre…forthereliefofsociallyisolatedpersonsofSkegnessandtheneighbourhoodtheretoand by
associatingvoluntaryorganisationsandthelocalstatutoryauthoritiesinacommoneffortorotherwiseshallbeusedto provide
facilitiesintheinterestsofsocialwelfareorrecreationandotherleisure-timeoccupationwiththeobjectofimproving the
conditionsof life for such persons to provide meals and refreshmentsfor such persons in need whether financiallyor otherwise and
for such other purposes for the welfare of such persons as now are or hereafter may be deemed by law to be charitable".
TheDayCentreisconstantlyworkingtointroduceagreaternumberofsociallyisolatedpeopleinruralandcoastalareasto our
services, which so many of our members already enjoy.
TheSkegnessDayCentrecontinuestoundertakevariousfundraisingactivitiestoraiseadditionalfundstosupport operational
costs.
Public benefit
Whenreviewingthecharitablecompany'sobjectivesandaims,andinplanningfutureactivities,thetrusteeshaveconsidered the
Charity Commission's general guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
Details of the activities are as noted above.
We can provide day care for 45 clients, at present we provide for 25 to 30 per day.
The Day Centre has been in operation for 35 years.
The uniqueness of our centre is its strength and is second to none to any other services offered in the area.
Motivated highly trained staff with long service records.
Improving the health and well-being of clients who attend.
FINANCIAL REVIEW
Thenet increaseto the fundsforthe periodamountedto £44,305(2022:reduction£32,052).Ofthisamount£Nil(2022:£Nil) are
attributabletorestrictedactivitiesand£44,305areattributabletounrestrictedfunds(2022:attributedfromunrestricted funds
-£32,052).
Reserves policy
Itisthepolicyofthecharitytomaintainunrestrictedfundstoprovidesufficientfundstocovermanagementand administration
costsand to covercentre-runningcostsin the event of fundraisingshortfalls.The Trusteesestimateit is prudentto hold in reserve
twoyears'operatingcostswhichequatesto approximately£500,000to coverDayCentreoperations.At 31 March2023it held a
total of £671,032 in reserves.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
ThecharitablecompanywasestablishedunderaMemorandumofAssociation,whichestablishedtheobjectsandpowersof the
charitable company and is governed under its Articles of Association.
Page 2
SKEGNESS DAY CENTRE LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
Themembersoftheboardofdirectorsarethetrusteesforthepurposeofcharitylawandarecollectivelyreferredtoas the
trustees.
The trustees,who are directorsfor the purpose of companylaw and trustees for the purpose of charitylaw, who served during the
period and up to the date of this report are set out on page 1.
Prospectivetrusteesareinvitedby the BoardofTrusteesto applyfora positionon the Board.A CriminalRecordBureaucheck is
performed and if acceptable they are then appointed by voting en bloc.
All trustees give their time freely and no trustee remuneration was paid in the year.
Membersof the charitablecompanyguaranteeto contributean amountnot exceeding£1 to the assetsof the charitable company
in the event of winding up. The total number of such guarantees at 31 March 2023 was 75 (2022: 75).
Organisational structure
ADayCentreManagerrunsthecentreonaday-to-daybasisandtheboardofdirectorsmeetsonaregularbasisto review
operations and develop future strategy.
COMMENCEMENT OF ACTIVITIES
The organisationis a charitablecompanylimited by guarantee,incorporatedon 25 February2003 and registeredas a charityon 30
May 2003.Priorto this the SkegnessDay Centre(charitynumber517961)operatedas an unincorporatedcharityuntil 31 October
2003.From1November2003thecharityoperatedasacompanylimitedbyguaranteewhenthefundsofthe unincorporated
charity were transferred to the company.
ThisreporthasbeenpreparedinaccordancewiththespecialprovisionsofPart15oftheCompaniesAct2006relatingto small
companies.
Approved by order of the board of trustees on 31 January 2024 and signed on its behalf by:
M Allen - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
SKEGNESS DAY CENTRE LIMITED
Independent examiner's report to the trustees of Skegness Day Centre Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
Responsibilities and basis of report
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)youareresponsiblefor the
preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16ofthe2006Actand are
eligiblefor independentexamination,I reportin respectof my examinationof yourcharity'saccountsas carriedout under Section
145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationIhavefollowedtheDirectionsgivenbythe Charity
Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completedmy examination.I confirmthat no mattershave come to my attentionin connectionwith 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 concernsand have come across no other matters in connectionwith the examinationto which attentionshould be drawn
in this report in order to enable a proper understanding of the accounts to be reached.
Keith May ACMA CGMA
Keith May Accounting Services
Aura Business Centre
Heath Road
Skegness
Lincolnshire
PE25 3SJ
31 January 2024
Page 4
SKEGNESS DAY CENTRE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
63,130
Charitable activities
5
Charitable activities
41,876
Other trading activities
3
2,329
Investment income
4
13,652
Other income
89,443
Total
210,430
EXPENDITURE ON
Charitable activities
Governance costs
24,989
Charitable activities
118,382
Costs of generating funds
1,081
Total
144,452
NET INCOME/(EXPENDITURE)
65,978
Other recognised gains/(losses)
Gains/(losses) on revaluation of fixed assets
(21,673)
Net movement in funds
44,305
RECONCILIATION OF FUNDS
Total funds brought forward
626,727
TOTAL FUNDS CARRIED FORWARD
671,032 |
Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
- |
2023
Total
funds
£
63,130
41,876
2,329
13,652
89,443
210,430
24,989
118,382
1,081
144,452
65,978
(21,673)
44,305
626,727
671,032 |
2022
Total
funds
£
1,059
58,256
2,294
13,268
3,645
78,522
24,629
118,145
399
143,173
(64,651)
32,599
(32,052)
658,779
626,727 |
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|
|
|
The notes form part of these financial statements
Page 5
SKEGNESS DAY CENTRE LIMITED (REGISTERED NUMBER: 04677597)
STATEMENT OF FINANCIAL POSITION 31 MARCH 2023
Notes
FIXED ASSETS
Tangible assets
9
Investments
10
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
13
Unrestricted funds
TOTAL FUNDS |
Unrestricted
funds
£
51,316
504,475
555,791
3,581
120,914
124,495
(9,254)
115,241
671,032
671,032 |
Restricted
funds
£
-
-
-
-
-
-
-
-
-
- |
2023
Total
funds
£
51,316
504,475
555,791
3,581
120,914
124,495
(9,254)
115,241
671,032
671,032
671,032
671,032 |
2022
Total
funds
£
60,493
548,006
608,499
3,669
39,769
43,438
(25,210)
18,228
626,727
626,727
626,727
626,727 |
|
|
|
|
|
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006fortheyear ended
31 March 2023.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyearended31March2023 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 financialstatementshave been prepared in accordancewith the provisionsapplicableto charitablecompaniessubject to the
small companies regime.
ThefinancialstatementswereapprovedandauthorisedforissuebytheBoardofTrusteesandauthorisedforissue on
31 January 2024 and were signed on its behalf by:
M Allen - Trustee
The notes form part of these financial statements
Page 6
SKEGNESS DAY CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatementsof the charitablecompany,whichis a publicbenefitentityunder FRS 102,havebeen prepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statementof Recommended
Practiceapplicabletocharitiespreparingtheiraccountsin accordancewiththeFinancialReportingStandardapplicable in
theUKandRepublicofIreland(FRS102)(effective1January2019)',FinancialReportingStandard102'The Financial
ReportingStandardapplicableintheUKandRepublicofIreland'andtheCompaniesAct2006.Thefinancial statements
havebeen preparedunder the historicalcostconvention,withthe exceptionof investmentswhichare includedat market
value, as modified by the revaluation of certain assets.
Income
All income is recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it is probable
that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesare recognisedas expenditureas soon as there is a legal or constructiveobligationcommittingthe charityto that
expenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlementandtheamountof the
obligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassified under
headingsthataggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticular headings
they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and property- not provided
Improvements to property- Straight line over 25 years
Office equipment- 25% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Funds held by the charity are either:
Unrestrictedfunds - these are funds which can be used in accordancewith the charitableobjectivesat the discretionof the
trustees.
Designatedfunds- thesearefundsset asideby the trusteesoutofunrestrictedgeneralfundsforspecificfuture purposes
or projects.
Restrictedfunds - thesescan onlybe used forparticularrestrictedpurposeswithinthe objectsof the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
RentalspaidunderoperatingleasesarechargedtotheStatementofFinancialActivitiesonastraightlinebasisover the
period of the lease.
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayabletothe charitable
company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Investments
Investmentsarestatedat marketvalueas at the statementoffinancialpositiondate.Thestatementoffinancial activities
includes the net gains and losses arising on revaluation and disposals throughout the year.
Gains and losses
continued...
Page 7
SKEGNESS DAY CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES - continued
Investments
All gainsand lossesare takento the statementof financialactivitiesas they arise.Realisedgainsand losseson investment
are calculatedas the differencebetween sale proceedsand open market value at prior year end (or purchasedate if later).
Unrealisedgains and losses are calculatedas the differencebetween the market value at the year end and opening market
value (or purchase date if later).
2. DONATIONS AND LEGACIES
2. |
DONATIONS AND LEGACIES |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Donations |
4,035 |
1,059 |
|
Legacies |
59,095 |
- |
|
|
63,130 |
1,059 |
3. |
OTHER TRADING ACTIVITIES |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Fundraising events |
2,329 |
2,294 |
4. |
INVESTMENT INCOME |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Income from Investments |
13,618 |
13,268 |
|
Deposit account interest |
34 |
- |
|
|
13,652 |
13,268 |
5. |
INCOME FROM CHARITABLE ACTIVITIES |
|
|
|
|
2023 |
2022 |
|
|
Charitable |
Total |
|
|
activities |
activities |
|
|
£ |
£ |
|
Client fees |
30,862 |
29,127 |
|
Shop income |
261 |
234 |
|
Kitchen sales and staff dinner |
155 |
120 |
|
Grants |
10,598 |
28,775 |
|
|
41,876 |
58,256 |
6. |
NET INCOME/(EXPENDITURE) |
|
|
|
Net income/(expenditure) is stated after charging/(crediting): |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Depreciation - owned assets |
4,067 |
6,651 |
|
Other operating leases |
6,185 |
5,400 |
|
Surplus on disposal of fixed assets |
(86,809) |
- |
continued...
Page 8
SKEGNESS DAY CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
7. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2023norfortheyear ended
31 March 2022.
The trustees gave freely of their time and expertise.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
8. STAFF COSTS
The average monthly number of employees during the year was as follows:
9.
Centre running
No employees received emoluments in
TANGIBLE FIXED ASSETS
COST
At 1 April 2022
Additions
Disposals
At 31 March 2023
DEPRECIATION
At 1 April 2022
Charge for year
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022 |
excess of £60,000.
Improvements
Land and
to
property
property
£
£
11,403
138,944
-
-
(11,403)
-
-
138,944
-
95,170
-
2,100
-
97,270
-
41,674
11,403
43,774 |
2023
8
Fixtures
and
Office
fittings
equipment
£
£
1,489
21,471
2,309
3,984
-
-
3,798
25,455
-
17,644
152
1,815
152
19,459
3,646
5,996
1,489
3,827 |
|
2022
8
Totals
£
173,307
6,293
(11,403)
168,197
112,814
4,067
116,881
51,316
60,493 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed assets are held at cost less depreciation.
The surplus on disposal of fixed assets relates to the sale of some land that housed a garage that was no longer in use.
continued...
Page 9
SKEGNESS DAY CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
10. FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 April 2022
Income
Disposals
Revaluations
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022
The investment portfolio includes global securities.
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
Accrued expenses
13.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Designated
TOTAL FUNDS |
Listed
investments
£
548,006
13,617
(35,476)
(21,672)
504,475
504,475
548,006
2023
2022
£
£
47
389
3,534
3,280
3,581
3,669
2023
2022
£
£
4,092
3,163
5,162
22,047
9,254
25,210
Net
movement
At
At 1.4.22
in funds
31.3.23
£
£
£
78,721
19,310
98,031
548,006
24,995
573,001
626,727
44,305
671,032
626,727
44,305
671,032 |
|
|
continued...
Page 10
SKEGNESS DAY CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
13. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Designated
TOTAL FUNDS |
Incoming
resources
£
196,812
13,618
210,430
210,430 |
Resources
expended
£
(133,976)
(10,476)
(144,452)
(144,452) |
Gains and
Movement
losses
in funds
£
£
(43,526)
19,310
21,853
24,995
(21,673)
44,305
(21,673)
44,305 |
Gains and
Movement
losses
in funds
£
£
(43,526)
19,310
21,853
24,995
(21,673)
44,305
(21,673)
44,305 |
|
|
|
|
44,305 |
|
|
|
|
44,305 |
Comparatives for movement in funds
Unrestricted funds
General fund
Designated
TOTAL FUNDS |
Net
movement
At 1.4.21
in funds
£
£
104,419
(25,698)
554,360
(6,354)
658,779
(32,052)
658,779
(32,052) |
At
31.3.22
£
78,721
548,006 |
|
|
626,727 |
|
|
626,727 |
Comparative net movement in funds, included in the above are as follows:
Incoming |
Resources |
Gains and |
Movement |
resources |
expended |
losses |
in funds |
£ |
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund
65,254 |
(135,952) |
45,000 |
(25,698) |
Designated
13,268 |
(7,221) |
(12,401) |
(6,354) |
78,522 |
(143,173) |
32,599 |
(32,052) |
TOTAL FUNDS
78,522 |
(143,173) |
32,599 |
(32,052) |
A current year 12 months and prior year 12 months combined position is as follows: |
|
|
|
|
|
Net |
|
|
|
movement |
At |
|
At 1.4.21 |
in funds |
31.3.23 |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
104,419 |
(6,388) |
98,031 |
Designated |
554,360 |
18,641 |
573,001 |
|
658,779 |
12,253 |
671,032 |
TOTAL FUNDS |
658,779 |
12,253 |
671,032 |
continued...
Page 11
SKEGNESS DAY CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
13. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Designated
TOTAL FUNDS |
Incoming
resources
£
262,066
26,886
288,952
288,952 |
Resources
expended
£
(269,928)
(17,697)
(287,625)
(287,625) |
Gains and
Movement
losses
in funds
£
£
1,474
(6,388)
9,452
18,641
10,926
12,253
10,926
12,253 |
|
|
|
|
The unrestricted funds are available for the Trustees to use in accordance with the charitable objects.
The designatedfund (the legacy)is investedto providea permanentsourceof incomefor the charity.Investingthe legacy
providesa growingincome.Althoughthis wouldnot dramaticallychangethe presenttotalincomeof the charity,it would
make a big difference to the amount of investment income of the charity.
14. RELATED PARTY DISCLOSURES
Mr P McCooeywhois a trusteeof the charityis alsoa directorin Duncanand Topliswhoprovideaccountancyservices to
the charity. Transactions for the year totalled £6,330 (2022 £5,889)
15. ULTIMATE CONTROLLING PARTY
The charitable company is controlled by the trustees.
Page 12