Charity number: 1101988 THE ROY AND PIXIE BAKER CHARITABLE TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
THE ROY AND PIXIE BAKER CHARrrABLE TRUST CONTENTS Page Reference and admlnl8tratlve detalls of the Charlty, Its Truste•s and advlsor8 Trustees, report Indopandenl •xamlnerf8 report Stat•ment of flnanclal actlvltla8 Balance 8heel Nol•8 to the Ilnanclal statemènts 9-18 Summary of grants pald 19
THE ROY AND PIXIE BAKER CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THEYEAR ENDED 5 APRIL 2024 Trust•os A A E Glenton G W Straker L A Caisley W J Dryden S L Glenton Smith (appointed 12 September 2023) Charlty r•glstered numb•r 1101988 Prlnclpal offl¢e Ryecroft Glenton 32 Portland Terrace New¢aslle upon Tyne NE2 1QP Ind•pendont examln•r Reah and McBride Sufte 2B North Sands Buslness Cenlre Llb8rty Way Sunderland SR6 OQA Bankers Barclays Bank plc 5 St Ann's Street Newcastle upon Tyn8 NE128J AccoThn¢y and Socratarlal Servlc•s tGlenlon 32 Portland Terrace Newcastle upon Te NE2 1QP Invèstment advlsors Portland Financlal Management Llmlted 29 Portland Terrace Newcastle upon Tyne NE2 1QS Invesknent management Quilter Cheviot servlces 5 St Paul's Square Liverpool L3 9SJ
THE ROY AND PIXIE BAKER CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trust88s present their annual report together with the financlal ststements of the Charity for the y8ar 6 April 2023 10 5 April 2024. ObJectlv85 and a¢tlvltlo$ • Pollcles and obJe¢tlves The objects of the Charity fomied by the deed are to support by granl of subscripllon or donation any registered charitable instltution or instltutions whose objects include (a) th8 relief of patlents suffering from any fonn of Illness or disease, the promotion of research Inlo Ihe causes 8nd treatment of such illness or disease and the provision of medical equipment for such p8tSents (b) the furtherance of the g8ner81 education of children and sY)ung persons by Ihe award of scholarships exhibitlons bursarles or malntenance allowances tenable at any school, university or other 8ducatlonal establishment approved by the Truste8S to persons in England who are in need of fin8nclal assistance (c) the protection and preserrfatlon for the benefit of the publSc In England such features of cities. towns, villages and the countryskle as are of special environmental historlcal or architectural interest (d) the relief of persons whether or not they are resident in England who are in conditions of need hardship or distress as 8 result of Ial national or international dSsast8r or by reason of their soclal and 8conomlG circumstanc85. • Publlc bonefit The Trustees have referred to the guldance contalned In the Charity Commlsslon's gen8ral guidance on publlc benoflt when revlewing the alms and objectives and in plannlng future activities. There follows an axplanats'on as to how the activlties of the charity for the year are In the publlc benefit. The objects of the Trust are summarlsed above in Pollcles and objectives. The Trust has carrled out these objects by provlding grants to registered charities for the re15ef of illness and promotion of medical research the furtherance of the educatk)n of young people, the protectlon of historic and architecturally significant featiires and the reliaf of persons In need, 811 of which ar8 In the publlc benefit. • Appllcatlon for grant$ Appllcations must b8 In writlng, provldlng full back up Information to: Ryecroft Glenton 32 Portland Terrace Newcastle upon Tyn8 NE2 1QP • Organlsation The Trust is administered by Ryecroft Glenton. The Trusteés consider applications for grants and agree distributions of income at Trustees, meetings.
THE ROY AND PIXIE BAKER CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Achlevements and parfomiance • Key perfornian¢e Indlcators The Trust's key financial p6rfomancè indicator is net income on unrestrictéd funds whith the trustees consider for grant making purposes and the longer temi aim of malntaining the value of the invested funds. • Revlew of acllvltles The funds of the Trust contlnue to produc8 investment income for Ihe b8n8ficiarf8s of the Trust. The Trust has donatod arnounts to charitsble organlsatlons In accordance wlth the Trust Deed, details of Ythich are shown in th8 notes to the financlal statements. • Investmènt pollcy and performan¢• There Is no restrfction on the Charity's power to invest. The investment strategy wlll be 88t perlodically by the Trustees to tske account of the need for funds and the underlying value of the assets. The Trustees continued to engage Quilter Cheviot to provide inve6tment management services throughout the year. The investment portfollo contains 8 Spread of investments whlch continue to be managed on 8 "medium. risk basls with a medium to long term investment horizon. The overall aim of the trustees is to achieve progressively increasing Income for distributlon, together with longer term capital growth. Durlng the period under review the portfollo refleGted the general movement in the value of quoted Snvestm6nts and resultant yields. Flnan¢lal r•vlow • Golng concern After maklng appropriate enqulrles, Ihe Trustees have a reasonable expectation that the Charity has adequate resources to Continue in operatlonal exist8nce for the foreseeable future. For this reason, they conlinue to adopt the going concem basis in preparing the financlal statements. Further details ragarding the adoption of the going concern basis can be found In Ihe accounting policies. • Reserves pollcy The Trustees, policy is to distribute income arislng, taking one year with the next, and to transfer any undistributed surplus to reseNes. Th8 balance on unrestricted reserves as at 5 April 2024 was £62,531 {2023.. £47.377} which is in line with th8 Trust8es' expectations for grant making In the forthcoming year.
THE ROY AND PIXIE BAKER CHARITABLE TRUST TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Strudurni govornance and managamont • Con8titutlon The Roy and Pixle 8aker Charitable Trust is a registered charlty, number 1101988, and is constttuted under a Trust deed. There have been no changes in the objectlves since the last annual report. • Method8 of appolntmonl or ehctlon of Trust••8 Under the Trust Deed, tha pOr of appolntlng new Trustees is vested in the eontlnulng Trustees and at no time must the number of Trustees be less than three. • R•crultm•nt and tralnlng of trustsas The Trustees 8r& or have been professional parsons In public practice wlth relevant exper16nce In acting In the capacity of Trustees. No further fonnal tralning is presently Considered lo be necessary. Recruitment and training will be considered, if appropriate, as and when any changes In trustees arlse. • Organlsatlonal manag•m•nt The Trustses are legally responslbla for over811 management and control and meet twice 8 year. • Rolated party rèlatlonshlps Three Trustees are connected to organlsations provlding services to the Trust. further details of which are given in tha notes to the accounts. • Rlsk management The Trustees have examined th8 major risks to which the Charity Is exposed and Systems have been put in place to mitigat8 those risks. • Coronavlrus The Trustees continu8d to endeavour to maintaln usual management and govemance processes throughout the period during which the disease was fully active. Accounting and Secretarial Services are provided by Ryecroft Glenton and their offices have been subject to a comprehensive Health and Safety Assessment which has enabled services related to the Trust to continue as previously. Trustees meetings are now being held in house following a period of meetings being held remotely, Flnancial market movem8nts give rlse to uncertalnties about asset valuations although th8 FTSE10018tock markets In general have recovered well.
THE ROY AND PIXIE BAKER CHARrrABLE TRUST TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Plans for future perlods There are no further developments currently envisaged but the trustees will seek to continue to achieve the objects of the Charity by producing sufficient income from invested funds to enable them to make worthwhile donatlons. Stat•m•nt of Trustees. responslbllltles The Trustees are responsibl8 for preparing the Trustees. report and the financlal statements in accordance with applicable law and United Kingdom Accounting Standards (United Klngdom Generally Accepted Accounting Practlce). The law appllcable to charities in England & Wales requires the Trustees to prepare financial staternents for each financial whlch glve a true and fair vlew of the state of affairs of the Charily and of rts incoming resources and appllcation of resources, induding Its Income and expenditure, for that perlod. In preparing these financial statements, the Trustees are required to: selecl suitable accountlng policies and then apply them consistently; observe the methods and princlples of the Charilies SORP (FRS 102); make judgements and accounting estimates that are reasonable and prudent; stste whather applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the finan¢i81 statements; prepare the financial statements on the going concern basis unless It Is Inapproprlate to presume that Ihe Ch8rily will continue In business. T.he Trustees ar• rnspon6ible for keoplAg adequate 4GGountlng records.11481 fire uffleieR lo ghow end 6xplain the Charitls transactlons and disclose wlth reasonable accuracy at any tim8 the financial position of the Charity and enable them to ensure that the tlnancial statements comply with th8 Charlties Act 2011, the Charity {Accounts and Reports) Regulations 2008 and the provislons of the Trust deed. They are also responsible for safeguarding the assets of the Charlty and hence for taklng reasonable steps for the prevention and detection of fraud and other Irregularities. Approved by order of the members of the board of Trustees on 24 September 2024 and slgned on their behalf by: G W Straker
THE ROY AND PIXIE BAKER CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2024 Independent Examlnerfs Report lo the Trustees of Th• Roy and Plxle Baker Charltablo Trust (Ihe Charfty.) I report to the charlty Truste85 on my examlnation of the accounts of the Charity for the year ended 5 April 2024. Responslbllltl•s and 8a318 of Report As th8 Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (Yh6 2011 Act,). I report In respect of my 8xaminatlon of the Charitys accounts CArried out under section 145 of the 2011 Act and in carrylng out my examination I have followed the appllcable Directlons given by the Charlty Commisslon under sectlon 145(5)(b) of the 2011 Act. Independént Examlnarfs Statemant Your attentlon is drawn to the fact that the Chartty has pr6pared the accounts in accordance wlth Accounting and Reporting by Charities: Slat8rn8nt of Recommended Practlce applicable to charities preparing their accounts In accordance wlth the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice Issued on 1 April 2005 whlch Is ref8rred to in the extant regulatlons but has been withdrawn. l understsnd that thls has been done in order for the accounts to provlde a true and falr view In accordance with the Gen&rally Accepted AcGounting Practice effective for reporting perlods beginnlng on or after 1 January 2015. I have completed my examination. I confirm that no matter8 hav8 come to my attention In connection with th8 examin8tlon gFvlng me cause to belleve that in any material respect: accounting records were not kapt In respect of the Charity 88 required by sectSon 130 of the 2011 Act. or the acwunts do not accord wlth those rerds. or the accounts do not comply wlth the applicable requirements concernlng the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other Ihan any requirement that the accounts give a 'true arKI fair, vlew which Is not a matter considered as part of an ind8pen(lent examination. I have no concerns and have come across no other matters In conn8ction with the examination to whlch 8tlention should be drawn in Ihls report in order to enable a proper understanding of the accounts to be reached. Thls report is made so181y to the Charltys Trustees, as a body, in accordance with Part 4 of Ihe Charrtles (Accounts and Reports) Regulations 2008. My work has been undertakèn so that I mlght stst8 to Ihe Chartys Trustees Ihose matters l am required to stat6 lo them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsiblllty to anyone other than the Charity and the Charitls Trustees as a body, for my work or for this report. Signed: Dated: CaL IV D Reah Suite B North Sands Business Centre Liberty Way Sunderland. SR6 OQA
THE ROY AND PIXIE BAKER CHARrrABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Endowment Unrestrlcted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Incom• and endowments from: Investments 84209 84,209 65,838 Total Income and •ndowments 84.209 84,209 65,838 Expondfturè on: Raising funds Charltable activlti88 38,407 38,407 69,055 37,586 67,375 69,055 Total exp•ndlture 38,407 69,055 107,482 104,961 N•t (expenditurn)Ilncome bèfore net galn81{los$•$) on Investments Net g8lnsl(losses) on inveslments 138,407) 269,447 15,154 123,253) 269,447 (39, 123) (196,984) Nat mov•m•nl In funds 231,040 15.154 246.194 (236, 107) Reconclllatlon of Iw)AL' Total funds brought forward Net movement In funds 3,231,733 231,040 47,377 15,154 3,279,110 246,194 3,515,217 (236,107) Total funds carrled forward 3,462.773 62,531 3,525,304 3.279, 110 The Statement of Financial Activities Includes all gains and losses recognlsed in the year. The notes on pages 9 to 18 form part of these financl81 statemants.
THE ROY AND PIXIE BAKER CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2024 2024 Not• 2023 Flxed asset8 Investments 3,365,357 3,003, 883 Current a8s•t8 3,365,357 3,003,883 Debtors Cash at bank and In hand 10 159.652 36,500 276,219 33,533 196,152 309, 752 Creditors., amounts falling du8 wlthln one year 11 (36,205) (34,525) Nèt current assets 159,947 275,227 Total assots less current IlabllFtles 3.525,304 3,279, 110 Total net assets 3,525.304 3,279, 110 Charlty fund8 Endowment funds Unrestrlcted funds 12 12 3,462.773 62.531 3,231, 733 47,377 Total funds 3,525,304 3,279, 110 The financial statements were apwoved and authorised for issue by the Trustees on 24 Seplember 2024 and slgne¢J on their behalf by: G W Straker The notes on pages 9 to 18 form part of these financial st8tements.
THE ROY AND PIXIE BAKER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 pRIL 2024 General Inforniatlon The Roy and Pixie Baker Charltable Trust is a Charitable Trust, charlty reglslration number 1101988. The principal office is 32 Portland Terrace, Newcastle upon Tyne, NE2 1 QP. Accountlng pollcles 2.1 Basls of proparatlon of financlal stat•m•nts The financial statements have been prep8red in accordance wlth the Charities SORP (FRS 102) - Accounting and Reportlng by Charities: Statement of Recommended Practice applicable lo charitles preparing thelr accounts in accordanc6 with the Flnanclal Reporting Standard applicable in the UK and Republlc of Ireland (FRS 102) <8ff8Ctive 1 January 2019), the Financial Reporting Standard 8ppIIc8ble In the UK and Republic of Ireland {FRS 102> and the Charities Act 2011. Th6 financial ststements have been prepared to glva a Yrue and faiv vlfrw and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent requlred to provide 8 'true and faiff view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accountlng anil Reporting by Chariti8s: Statement of Recommended Practice effective from 1 April 2005 whlch has since been withdrawn. Th6 Roy and Pixie Baker Charitable Trust meets the d8finition of a publlc benefit entity under FRS 102. Assets and liabilities are Inltlally recognised at hislorical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Income All income is recognlsed once the Charity has entitlement to the Income, It Is probable that the income wlll be r8c8ived and the amount of income receivable can be measured reliably. 2.3 Exp•ndltur• Expenditure Is recognlsed once there is a legal or constructive obligation to transfèr 8conomlc benefit to a third party. It Is probable that a transfar of economic benefits will be r8quir8d in settlement and the amount of the obligation can be measured reliably. Costs of generating funds are costs incurred in investment man8gem8nt fees. Expenditure on charitable activities Is Incurred on directly undertaklng the actlvlties which fvrther the Charitvs objectives, as well as any associated 5UPPOrt costs. Grants payable are c-harged in the year when Ihe offer Is made exc6pt in those cases where the offer is conditional. such grants being recognised as expenditur8 when the conditions attaching are fulfilled. Grants olfered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT.
THE ROY AND PIXIE BAKER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accountlng policles (contlnued) 2.4 Golng concern At the tim8 of approving the financial ststements, the Trustees have a reason8ble expectation that the Trust has adequate financial resources to continue in operational exlstence for the foreseaable future and they continue to adopt the golng concern b8sis of accountlng in preparlng th6 financlal statements. 2.5 Int•re•t recelvablo Interest on funds h81d on deposit is included wh8n recelvable and the amount can be measured reliably by the Charity. this Is nomally upon notificatlon of the interest paid or payable by the instltutlon wlth whom the funds are deposlted. 2.6 Investments Fixed asset investments are a forni of financial Instrument and are initially recognised at their tran$actlon cost and subsequently measured 8t falr value at th8 Balance sheet date, unless the value cannol be measured rellably in which case it is measured at cost less impairment. Investment gains and losses, whether r8alis8d or unrealised, aro combined 8nd presented as 'Gainsl(Losses) on investments, in the Statement of Financial Activities. 2.7 Debtors Other debtors are regnised at the settlement amount. 2.8 Cash at bank and In hand Cash at bank and in hand includes cash and short-temi highly liquld investments with a short maturity of three months or less from the date of acquisition or opening of the deposlt or Slmilar account. 2.9 Llabllltlos Liabillties are recognised when there is an obligation at the Balance sheet date 83 a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and th6 amount of th8 settlement can be estlmated rellably. Liabilities are recognised at the amount that the Charity antlcipates it will pay to settle th6 debt or th8 amounl it has received as advanced payments for the goods or services it must provide. 2.10 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectlves of the Charity and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund.
THE ROY AND PIXIE BAKER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Investment Income Unrostrleted funds 2024 Total funds 2024 Investment income Interest received 56,137 28,072 56,137 28.072 Total 2024 84.209 84.209 Unrestricted funds 2023 Tot81 funds 2023 Investment Income Interest received 50.855 14,983 50, 855 14,983 Tot812023 65, 838 65, 838 Inv•stmont management costs Endowment funds 2024 Total funds 2024 Investment managem6nt fees 38.407 38.407 Endowment funds 2023 Total funds 2023 Inv8stsnent management f88S 37,586 37,586
THE ROY AND PIXIE BAKER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Analysls of expenditura by actlvities Grant funding of a¢tlvltSes 2024 Support costs 2024 Total funds 2024 Direct costs - Grant making activltles 41,000 28,055 69,055 Gr8nl fundlng ol aGtlvities 2023 Support costs 2023 Tolal funds 2023 Direct costs - Grant making actlvities 40.500 26,875 67,375
THE ROY AND PIXIE BAKER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Analysls of expendftur• by activltles {¢ontlnued) Analysls of support costs Total funds 2024 Total funds 2023 Accountancy and secretarial servlces Other expenses Bank charges Trustees charges and Insurance Indep8ndent Examlnerfs remuneration 23,802 142 19 2,524 1,568 22,668 239 17 2,460 1,491 Total 2024 28,055 26.875 All support costs relate to unrestrlcted funds in bolh years. Analysls gf grants 2024 Grants to 2023 Grants Instltutlon$ to institutions Relief ol illness and promotlon of medical research Furtherance of education of young people Protection of historic l architecturally significant features Relief of Persons in Need 13,500 11,000 8.000 8,500 7,000 8,500 10,500 14,500 41,000 40,500 Full list of grants paid detai18d on pagè 19.
THE ROY AND PIXIE BAKER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Professlonal feès 2024 2023 Fees payable to the Charitys independent examiner for the Independent examination of the Charitys annual accounts 1.568 1,491 Accountancy and secretarial seniices - Ryecroft Glenton 23,802 22, 668 Trust8e8' remunoratlon and expanses Durlng the y88r, no Truste88 received any remuneration or other benefits (2023 - £NIL). Trustees recelved relmbursement of expenses amounting to £1,272 In the current year, (2023 - £1,320).
THE ROY AND PIXIE BAKER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Flx•d asset investments Llsled Inv•stments Cost or valuatlon Al 8 Aprll 2023 Addltlons Dlsposals Revaluations 3,003,883 729,694 1637,667) 269,447 At 5 April 2024 3,365,357 Not book valu At 5 April 2024 3,365,357 Al 5 Aprfl 2023 3,003,883 Al investments are carried at th8lr fair value. Investment in equities and fixed Interest securities are all Iraded In quoted public markgts. The basls of fair value for quoted Investments is equivalent to the market valuè. The maln risk to the Trust from these financial instruments li8s in the comblnation of uncertain investment markets and volatility in yield. The Trust manages these Investment rlsks by retainlng expert advlsors and operating an investment policy that provides for a high degree of diverslfication of holdlngs within Investment asset classes that are quoted on recognised stock exchanges. The Trust does nol make us8 of derivatives and similar complex financial instrumènts as It takes the view that investment8 are held for thair longer term. 10. Dèbtors 2024 2023 Due wlthln one year Prepayments Other debtors 626 159,026 626 275.593 159,652 276.219
THE ROY AND PIXIE BAKER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 11. Credltors: Amounts falling due wlthin one year 2024 2023 Trust88s charges Accruals and def8rred income 876 35,329 840 33,685 36,205 34, 525 12. Statement of funds Statsrn•nt of funds . curront year Balance at 6 Aprll 2023 Galnsl Balance at 5 (Lossas) Aprll 2024 Income Expondltur• Unr68tr1¢ted fund8 General Funds 47,377 84,209 (69,055) 62,531 Endowment funds Endowment Funds 3,231.733 (38,407 269,447 3,462,773 Total of funds 3.279,110 84209 {107,462} 269,447 3,525,304
THE ROY AND PIXIE BAKER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 12. Statement of funds <contlnued) Stat•mènt of funds - prlor year Balance at l Apnl 2022 Gains/ Balance at (Losses) 5 Apnl 2023 InGome Expenditure Unrfrstrlcted funds General Funds 48.914 65,838 (67,375) 47,377 Endowmant funds Endowment Funds 3,466,303 (37.586) (196,984) 3,231, 733 Total of funds 3,515,217 65,838 (104.961) (196,984) 3,279, 110 13. Analy818 of net ass•t8 between funds Analysls of net assets botween funds - curr•nt perlod Endowment Unre8trlctod funds funds 2024 2024 Total funds 2024 Flxed asset inv8stm8nts Current assets Creditors due withln one year 3,365,357 97,416 3,365,357 196,152 136,205) 98,736 {36,205} Total 3,462,773 62,531 3,525,304
THE ROY AND PIXIE BAKER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 13. Analy81s of net assèts between funds (eontlnued) Analysls of net as86ts bètween funds - prlor perlod Endo¥vment Unrestricted fvnds funds 2023 2023 Total fvnds 2023 Flxed asset investments Current assets Credltors due within one year 3.003, 883 227, 850 3,003,883 309. 752 (34,525) 81,902 (34,525) Total 3.231,733 47,377 3,279,110 14. Transactlons wllh connectod partles In accordance wlth the wlshes of Mr & Mrs R T Baker, the Truste6s have utilised the servlces of Portlan(J Flnancial Management LrnIted in regard to Investment matters. Portland Flnancial Management Llmited is wholly owned by Ry8croft Glenton, a finn In which two of the Trustees. A A E Gl8nton and S L Glenton Smlth are partners and G W Slraker 56 a consultant. Th8 amount 8amed by Portland Financial Management Limited for advice upon and arrangament of investments during Ihe year was £16,209 (2023: £17,651). A firm in whlch two of the trustees A A E Glenton and S L Glenton Smlth are partners and G W Strakar 18 8 consult8nt Ryecroft Glenton, Chartered Accountants charged the trust £19,835 <2023: £18,890) plus value added tax for accounting and secretarial services during tha year of whlch £23,802 (2023: £22,668) was outstanding 8t the year end.