Charity registrdtion nurnber 1103884 (England and Wales) THE WILLIAM AND PATRICIA VENTON CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Doc ID.. 7a20ecc902c1 be52b83a3640329169d2e6265e06
THE WILLIAM AND PATRICIA VENTON CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees MrMTHill Mr Csaunby Mrs Hone Charity number 1103884 Independent examlner Oliver Read FCCA ACA James Todd & Co Limited Drayton House Drayton Lane Chichester West Sussex P020 2EW 8anker5 Metro Bank PLC One Southampton Row London WC18 SHA The Co-operative Bank PLC PO Box 250 Skalmersdale WN8 6WT Investment adv150rs Rathbones 8 Finsbury Circus London EC2M 7AZ Evelyn Partners 45 Gresham Street London EC2V 7BG Doc ID.. 7a20ecc902cl be52b8383640329169d2e6265e06
THE WILLIAM AND PATRICIA VENTON CHARITABLE TRUST CONTENTS Page Trustees, report Independent examiner's report ststement of flnancial activities Balance sheet Notes to the financial statements 7-13
THE WILLIAM AND PATRICIA VENTON CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statement5 for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the trust's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective l January 20191. Objertives and activitles The charity's objett5 are as follows.. To pay or apply the income and all or such part or parts of the capital in such shares and proportions at such time or times and in such manner for or towards such charitable purpose or purposes as the trustees shall think fit provided that without prejudice to the generality of the foregoing the trustees shall have regard to the following purposes that is to say'.- l. The establishment and endowment lin the jolnt names of the Founder5 the late Mr W S J Venton and the late Mrs N P E Venton, or the sole name of either of them) the acquisition, provision, development, enlargement, construttion, eqLÈipment fitting out, furnlshln8 decoratlon maintenance, repair, insurance improvement reconstruction and general upkeep of Day Centres In cities towns and villages of the United Kin8dom for the benefit of the Beneficiaries (meaning those who by reason of old age or infirmity or social and economic circumstances have need of the facilities provided at a Day Centre or of care attention a5SlStance or supervision thereatl and the payment of all out80in8s in connection with and the general expenses of carrying on and managing such Day Centres. 2. The assistance of the Beneficiaries or any of them by the provision of food and other facllities at such Day Centres aforesaid upon term5 appropriate to their means Provided that the trustees shall ensure that the cost to the Beneficiaries of food and other facilities provided by and at such Day Centres aforesaid is kept as low a5 Possible. 3. The assistance of the 8eneficiaries or any of them by the provislon of means of transportation to and from such Day Centres aforesaid or the payrnent of all or any part of their travelling expenses to and from such Day Centres aforesaid as shall in either case be appropriate to their means provided that the trustees shall ensure that the cost to the Beneficiaries of such transportation or travel is kept as low as possible. 4. The relief for the benefit of the public of the 5ufferin8 of animals in need of care and attention and in particular the provision and maintenance of rescue homes or other facilities for the reception care and treatment of such animals. S. The making or provision lin the joint names of the Foundets or the sole name of either of them) of donations grants loans or other asslstance to: lil Age Concern or any other association, trust, oryanisation, institution or body corporate or unincorporated which is for the time being a registered charity in the United Kingdom for any one or more of the purposes referred to in sub-clau5e5 111121 and131 of this Clause. lill The RSPCA or any other 8550Clation trust organisation institution or body corporate or unincorporated which is for the time being a registered charity in the United Kingdom for any one or more of the purposes referred to in sub-clause141 of thls Clause, The trustees receive varied applications for support and each one is reviewed and considered for support bearing in mind the stated object5 of the charity. The trustees acknowledge that they would favour applications from charities in which Mrs Venton had been involved during her lifetime but they would also take into consideration applications from other charities which had similar objectives to those which were set out in the Trust Deed. All applications made will be considered by the trustees. The trustees note the Charity Commission's guidance on public benefit and recognise all activitie5 0* the charity are for the benefit of the public. Doc ID- 7a20ecc902c1 be52b83a3640329169d2e6265e06
THE WILLIAM AND PATRICIA VENTON CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance The Trustees are pleased to report that the Trust saw an expansion in it charitable funding during the year. During the hiatus created by covid grant application5 diminished and income accumulated in the Trust bank account. The Trustee5 have adopted policy of not havin8 income paid on a regular basis to prevent such accumulation of income in the future. The fund managers are now instructed to reinvest income and the Trustees from time to time will draw down such monies a5 thev anticipate needing to fund grant applications. Having started the reporting period with a substantial cash balance at bank the Trustees decided to njn down the bank balances to a level where the cash at bank is broadly equivalent to 12 months expenditure on Trust administration and charitable grants. The Trust website, with an online 8rant appllcation process, that was introduced during the year is proving successful and generated a number of requests. Not all of these were approved by the Trustees as many were received from organisations whose attivities are outside the remit of those mandated by the Trust objectives. However it was encouragin8 to see that number of applications were received from organisations that provlded support for the elderly or anima15 that were not mainstrearn charitles. Many of these small organisations, run by enthusiastic volunteers, require support and the Trust wa5 pleased to be able to help many of these small organisations during the year. Just under £IOO,000 was distributed to five organisations. Such support and financial assistance wa5 totally for the benefit of the public. Further details are provided in note 6 to the attached financial statements. Slnce Its inception the Trust Bank accounts had been held by Lloyds Bank PLC. Unfortunately this was an "old style. trustee account and could only be acce55ed by personal attendance. Lloyds were unable to offer any electronic form of banking Wlth the original account. Neither were they accepting new accounts from charities established by trust deed. In the clrcumstances the Trustees took the decision to transfer the bank accounts to Metro Bank PLC and the Co-operative Bank. Both those organisations enable the Trustees to manage the accounts electronically which is more flexible and cost effective. Flnanclal review During the year the trust received income of £84,837 which is an decrease on the previous year12023: £88,377). The trust showed a surplus of £163,44612023'. deficit of £67,411}. This surplus was caused by the realised and unrealised gains on the trust's investment portfolio of £200,784 12023: loss of £125,252) which resulted in an overall surplus of £163,446 12023.. deficit Df £67,411). It 15 the wish of the Trustees to distribute as much as possible of the Trust's annual Income and any future surpluses will be carried forward to increase future distributions; deficits may sadly restrlct futu distributions. Close contact is maintained with the Trust's two stockbroking firms who manage the Trust's portfolio. The stockbrokers provide regular report5 and summaries of transactions. and representatlves meet the Trustees at their annual meeting when they are required to analyse the position of the portfolios they manage and advlse their expectations for the f uture. The Trustees are fully 8uided by their stockbrokers in dealin8 wlth this aspect of the Trust's financial affairs. The Trust's investment policy 15 to balance the requirement for income and yet maximise growth opportunities, thereby providing for both present and future needs. During the year, the Trust's investments saw an increase in value of £243,19712023: decrease of £57,7221. It is the poliry of the Trust that UnstrICted fund5 which have not been designated for a specific use should be maintained at level of six month's average historical general expenditure which 15 equivalent to £39,000. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Trust's current activities while considerdtion is given to ways in which additional f unds may be raised. The level of reserves at the year-end currently stands at £3,416,738, of which £3,058,741 is included as part of endowment fund5. This leave5 general reserves of £357,997 which is above the reserve5 policy. The Trustees will aim to utilise these reserves by way of issuing further grants in the next financi81 year. Note 15 sets out an analysis of the assets attributable to the various funds. These assets are sufficient to meet the Trust's obligations on a fund by fund basis. The Trustees have a5ses5ed the major risk5 to which the Trust is exposed, and are satisf led that systems are in place to mitigate exposure to the major risks.
THE WILLIAM AND PATRICIA VENTON CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structurej governance and management The trust was established by a deed of charitsble trust on 11 February 2004. The charity is run by the Board of Trustees, comprising the trustees who give their time and expertise voluntarily and receive no benefits from the charity. Each of the trust's three trustees have responsibility for the affairs of the trust, meeting as necessary to deal with such matters. The trustees who Served during the year and up to the date of si8nature of the financial ststements were: MrMTHill Mr C Saunby Mr S Hone Recrultment and appointmènt of trustees Mr C Saunby was appointed at the request of the late Mrs N P E Venton and will monitor the future needs of the trust and the appointment of other trustees to assist in the affairs of the trust. Mr M Hill and Mr S Hone have been appointed in accordance with the governing document. In view of the size of the trust all of the decisions are taken by all of the trustees. Should additional trustees be required these will be appointed in accordance with the trust deed and any identified gaps and weaknesses In the board'5 existing skills and knowledge. All new trustees follow an induction process which includes a copy of the latest accounts and information about the charity and their responsibilities as trustees. Where necessary. training may be offered to assist with the induction process. The trustees, report was approved by the Board of Trustee5. Mr C Saunby Trustee Date.. 1911112024 Doc ID.. 7a20ecc902c1 be52b83a3640329169d2e6265e06
THE WILLIAM AND PATRICIA VENTON CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WILLIAM AND PATRICIA VENTON CHARITABLE TRUST I report to the trustee5 on my examination of the financial ststements of The William and Patricia Venton Charitable Trust Ithe trust) for the year ended 31 March 2024. Responslbilitles and basls of report As the trustees of the trust you are responsible for the pparatIOn of the financial statements in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the trust's financial statement5 carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commisslon under settion 14515llbl of the Charities Act 2011. Independent examlner's statement Your attention is drawn to the fatt that the charity has prepared the financial statement5 in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charltles; Statement of Recommended Practice issued on l April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that thi5 has been done in order for the financial statements to provide true and fair view in accordance with UK Generally Accepted Accounting Practlce. I have completed my examinatlon. I confirm that no mattets have come to my attention in connection with the examinatlon 8iving me cause to believe that In any material respect.. accounting records were not kept in respect of the trust as requlred by section 130 of the Charlties Act 2011. the financial statements do not accord with those records; or the financial statements do not comply wlth the appllcable requirements concernin8 the form and content of financial statements set out in the Charitles (Accounts and Reports) Regulatlon5 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have corne across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understandin8 of the financial statements to be reached. Oliver Read FCCA ACA James Todd & Co Limited Draylon House Drayton Lane Chichester West Sussex P020 2EW England 0211212024 Dated: .....
THE WILLIAM AND PATRICIA VENTON CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Endowment fund5 funds 2024 2024 Total Unrestrirted Endowment funds funds 2023 2023 Total 2024 2023 Notes Income from: Investments 84,837 84,837 88,377 88,377 Expendlture on: Raisin8 funds Charitable activities 8,861 104,453 8,861 17,722 104,453 8,533 13,470 8,533 17,066 13,470 Total expenditure 113,314 8,861 122.175 22,003 8,533 30,536 Net gains/llossesl on investments io 200,784 200,784 1125,2521 1125,2521 Net Incomellexpendlture) and movernent In funds 128,4771 191,923 163,446 66,374 1133,7851 167,4111 Reconclllatlon of funds: Fund balances at l April 2023 386,474 2,866,818 3,253,292 320,100 3,000,603 3,320,703 Fund balances at 31 Mar¢h 2024 357,997 3,058,741 3,416,738 386,474 2,866,818 3,253,292 The statement of financial activities includes all 8ains and losses recognlsed In the year. All Income and expendlture derive from continuing artivities, Doc ID: 7820ecc902c1 be52b83a3640329169d2e6265e06
THE WILLIAM AND PATRICIA VENTON CHARITABLE TRUST BALANCE SHEEr ASAT31 MARCH 2024 2024 2023 Notes Fixod assets Investments li 3,186,078 2,942,881 Current asset$ Cash at bank and in hand 235,220 314,791 Credltors: amounts falllng due wlthln one year 14,5601 14,3801 Net ¢uffent assets 230,660 310,411 Total assets less current Ilabilitles 3,416,738 3,253,292 The fund5 of the trust Endowment funds Unrestricted funds 13 14 3,058,741 357,997 2,866,818 386,474 3,416,738 3,253,292 The financial statements were approved by the trustees on 1911112024 .J..... 1,11 e i) I Mr C Saunby Trustee
THE WILLIAM AND PATRICIA VENTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting poll¢les Charlty Informatlon The William and Patricia Venton Charitable Trust is an unincorporated trust, registered with the Charities Commission under charity number 1103884. It's principal address is SoLtthlands, 9 Southlands Road, Kettering, Northants, NN15 7QG. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the trust's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102.1 and the Charities SORP '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 IFRS 1021" leffective l January 20191. The trust is a Public Benefit Entity as defined by FRS 102. The trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Report51 Regulations 2008 only to the extent required to provide a true and fair view. This departure ha5 involved following the Statement of Recommended Practice for charities applyin8 FRS 102 rather than the verslon of the Statement of Recommended Practice which is referred to In the Re8ulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts In these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost conventlon. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financlal ststement5, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern ba515 of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are ovailable for use at the discretion of the trustee5 in furtherance of their charitable objettives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restritted funds are set out in the notes to the financial statements. Endowment funds are subjecr to specific conditions by donors that the capital must be maintained by the trust. 1.4 Income Income is recognised when the trust 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 donation5 are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donatlolls received under Gift Aid or deed5 of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the trust 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. Doc ID: 7320ecc902cl be52b83a3640329169d286265e06
THE WILLIAM AND PATRICIA VENTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcies (Continued) 1.5 Expendlturè Expenditure is recognised once there 15 a legal or constructive obligation to transfer economic benefit to a third party, it 15 probable that a transfer of economic benefits will be required in settlement, and the amount of the obli8ation can be measured reliably. Expenditure is classif led by actlvity. The costs of each activity are made up of the total of direct Costs and shared costs, including 5UPPOrt Costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared cost5 which contribute to more than one activity and 5UPPOrt costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset'5 use. 1.6 Fixed asset Investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at falr value at each reporting date. Changes in fair value are recognised in net incomellexpenditurel for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equlvalents Cash and cash equlvalent5 include cash in hand, deposits held at call wlth banks, other short-term liquid investments wlth original maturities of three months or less, and bank overdraft5. Bank overdrafts are shown within borrowings in current liabilities. 8oslcflnon¢lal ossets Basic f inancial assets, which include debtors and cash and bank balances, are initially measured at transaction prlce including trdnsactlon costs and are subseqLtently carried at amortlsed cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the psent value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Bq51cflnanclol liabilitle5 Basic financial liabilities, including creditors and bank loans are initially reco8nised 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. Debt instruments a subsequently carried at amortised c05t, using rhe effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordlnary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, thev are presented as non-current liabilities. Trade creditors are reco8ni5ed initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognitlon offinanciol liobilities Financial liabilities are derecognised when the trust's contractual obligations expire or are discharged or cancelled. 1,8 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee'5 services are received. Termination benefits are recognised immediately as an expense when the trust is demonstrdbly committed to terminate the employment of an employee or to provide termination benefits.
THE WILLIAM AND PATRICIA VENTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Critical accounting estimates and judgements In the application of the trust's accounting policies, the tTUStees are required to make judgements, estimates and assumptions aboLlt the carrying amount of assets and liabilities that are not readily apparent frorn 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. Revision5 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. IncomÈ from Investments Unrestrlcted Unre5trirted funds funds 2024 2023 Income from listed investments Interest receivable 70,404 14,433 88,333 44 84,837 88,377 Expenditure on raising funds Unrestrlcted Endowment funds funds 2024 2024 Total Unrestrlcted Endowment funds fund5 2023 2023 Total 2024 2023 Investment management 8,861 8,861 17,722 8,533 8,533 17,066 Expendlture on charttable actlvltle$ Grant fundlng Grant tundlng 2024 2023 Dlrect costs Grant funding of activities (see note 61 99,392 8,376 Share of 5UPPOrt and governance costs (see note 71 Support 5,061 5,094 104,453 13,470 Analysi5 by fund Unrestricted funds - general 104,453 13,470 Doc ID.. 7a20ecc902c1 be52b83a3640329169d2e6265e06
THE WILLIAM AND PATRICIA VENTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Grants payable Grant fundlng Grant fundln8 2024 2023 Grants to institutions.. Age Concern Eastbourne Age UK Northampton Casts Protection Northampton Eastbourne Shopmobility Animals in Need 57,392 12,000 10,000 10,000 10,000 8,376 99,392 8,376 Support costs allocated to artlvltles 2024 2023 501 4,560 Travel and subsistence Accountancy 5,094 5,061 5,094 Analysed between: Grant funding 5,061 5,094 Trustees None of the trustee5 lor any persons connected with theml received any remuneration or benefits from the trust during the year, Employees The average monthly number of employee5 during the year was.. 2024 Number 2023 Numbef Totsl There were no employees whose annual remuneration was more than £60,000.
THE WILLIAM AND PATRICIA VENTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Galns and losses on Investments Endowment funds 2024 Endowment funds 2023 Gains/llossesl orisin8 On: Revaluation of investments Sale of investments 185.081 15,703 111,886 1237,1381 200,784 1125,2521 li Flxed asset investments Llsted Investments Cost or valuatlon At l April 2023 Additions Valuation changes Disposals 2,942,881 987,218 184,958 1928,9791 At 31 March 2024 3,186,078 Carrying amount At 31 March 2024 3,186,078 At 31 March 2023 2,942,881 Flxed a55et investments revalued The investments listed above are at market value. The historic cost of the portft)lio at the year-end is £2,583,05612023- £2,323,498). 12 Credltors: amounts falllng due wlthin one year 2024 2023 Accrua15 and deferred income 4,560 4,380 11 Doc ID: 7820ecc902c1 be52b83a3640329169d2e6265e06
THE WILLIAM AND PATRICIA VENTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Endowment funds Endowment funds represent assets whlch must be held permanently by the trust. Income arising on the endowment funds can be used in accordance with the object5 of the trust and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. At l Aprll 2023 ResourcesGains and losses expended At 31 March 2024 Permanent endowments The Willlam and Patricia Venton Charltable Trust 2,866,818 18,8611 200,784 3,058.741 pVIouS year: At l Aprll 2022 Re50urcesGaln$ and losses expended At 31 March 2023 Permanent endowments The William and Patricia Venton Charltable Trust 3,000,603 18,5331 1125,2521 2,866,818 The endowment fund repSentS a permanent endowment from Mrs Patrlcia Venton, the capital of whlch must be maintained by the trust. The income generated by the capital is available for distribution in accordance wlth the aims of the charity. The fund is held in an investment portfolio, which Is managed by the investment managers. Resources expended represent the investment manager's cost5 for managing the investment portfollo. Investment manager's costs have been allocated 50% against general funds and 50% against the endowment fund which is generatin8 the investment income, in accordance with the terms of the endowment. Transfers in the year relate to investment gains being moved to unrestricted funds for distribution, in accordance with the aims of the charity. 14 Unre5trlcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated fund5 which have been Set aside out of unrestricted funds by the trustees for specific purposes. At l Aprll 2023 Incomlng resources Resources expended At 31 March 2024 1113,3141 357,997 General funds 386,474 84,837 At 31 March 2023 Provious year: At l Aprll 2022 Incomlng resources Resource5 expended 386,474 General funds 320,100 88,377 122,0031 The grants reserve represents funds set aside by the trustees last year to pay out grdnts.
THE WILLIAM AND PATRICIA VENTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 IS Analysis of net assets between funds Unrestricted funds 2024 Endowment funds 2024 Total 2024 At 31 March 2024: Investments Current assets/lliabi1Stiesl 127,337 230,660 3,058,741 3,186,078 230,660 357,997 3,058,741 3,416,738 Unrestrlcted funds 2023 Endowment funds 2023 Totsl 2023 At 31 March 2023: Investments Current assets/lliabilitiesl 76,063 310,411 2,866,818 2,942,881 310,411 386,474 2,866,818 3,253,292 16 Related party transa¢tlons There were no disclosable related party transactions during the year12023 - none). 13- Doc ID: 7a20ecc902c1 be52b83a3640329169d2e6265e06