Charity registration number 1106457
Company registration number 04636546 (England and Wales)
IXIA PA
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
IXIA PA
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Ms C Newbery |
|---|---|
| Mrs S Heath | |
| Mr T Freshwater | |
| Ms K L E Beinart | |
| Secretary | Ms C Newbery |
| Charity number | 1106457 |
| Company number | 04636546 |
| Registered office | Sylcote |
| Torpenhow | |
| Wigton | |
| Cumbria | |
| United Kingdom | |
| CA7 1JF | |
| Independent examiner | Azets Audit Services |
| 3Mc Middlemarch Business Park | |
| Siskin Drive | |
| Coventry | |
| United Kingdom | |
| CV3 4FJ |
IXIA PA
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 12 |
IXIA PA
TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
In accordance with the Articles of Association of ixia PA the company's objects are:
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to promote, maintain, improve and advance the education of the public in the arts, particularly the visual arts and in particular works of art and craft in public places;
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to promote the arts in all their respects for the public benefit, particularly the visual arts and in particular works of art and craft in public places.
The company has power to do anything within the law that may promote or may help promote the objects or any of them. In particular (but without limitation) the company has the following powers:
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to promote, advance and facilitate the creation and undertaking of works of art in public places and the role of artists in developing public places;
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to bring together in conference representatives of voluntary organisations, governmental departments, statutory authorities and individuals;
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to promote and carry out or assist in promoting and carrying out research, surveys and investigations and publish the useful results thereof;
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to research, collect and disseminate information on all matters affecting the objects and exchange such information with other relevant bodies or individuals;
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to promote the adoption of policies and mechanisms by governmental organisations, quangos, statutory and advisory bodies at national, regional and local level by which works of art and craft can be integrated into projects of architectural or environmental design.
The public benefits of the company are the provision of knowledge and understanding of the commissioning of, and roles of, works of art in public places and the roles of artists in developing public places.
The public benefits provided by the company are to members of the public and future generations who experience art in public places or work with artists on developing public places. Key guidance documents and new writing produced and commissioned by the company are available for free from its website. The company charges fees for its consultancy work, events and publications. The fees generated from these activities assist the company with the delivery of its objectives. Access to the public benefits of the company is not unreasonably restricted. A private benefit that directly contributes to the company's aims is the appointment of artists, arts managers and other professionals to provide knowledge and understanding of art in public places and the work of artists in developing public places. This private benefit is incidental.
In shaping the objectives for the year and planning the company's activities, the trustees referred to the guidance contained in the Charity Commission's general guidance on public benefit.
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IXIA PA
TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Achievements and performance
Organisational development
This period saw the completion of our work with Fifth Sector supported by ACE award. This created a report with further recommendations for next steps for Ixia to take, starting with creating a business plan and expanding and diversifying the board. In addition, the board undertook a programme over 6 months to further prioritise future activity to refine our business planning and future development activity working with Emily Druiff, consultant.
Arts Council Pilot Bid and activity
Partnership conversations with Arts Council England created the opportunity to bid through summer 2023 for £25k of pilot activity, with a successful award being made.
• The work got underway in September 2023 led by Susie Gray
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The project is working with councils in ACE North area: Barnsley, Darlington, and St Helens Borough. These
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local authorities are all in receipt of Levelling Up and Towns Fund awards.
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Project startup experienced delays through later 2023 and early 2024 owing to the site identification processes
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and onboarding local authority partners.
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By March 2024 we had recruited experienced advisors (Emma Underhill, UP Projects; Frances Smith, Beam;
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Hazel Colquhoun, freelance consultant) to assess what forms of advice would assist local authorities.
• Owing to timelines, the work continued up to and beyond March 2024.
We also undertook a number of public presentations and online dissemination about public art:
Public Art and Placemaking keynote for CLOA (Culture and Leisure Officers Association),
9 November 2023 – Susie Gray delivered this online presentation within our ACE pilot activity – 56 signups and 50 attended.
Diversity and Inclusion in the Public Art Sector Forum hosted by Ixia, Beam and CVAN session with Beam , 2 October 2023 – Chaired by Paula Orrell, Director of CVAN – The Contemporary Visual Arts Network, speakers included Cecilia Wee (researcher for the CVAN Fair & Equitable Research Report), Bo Olawoye (researcher for the Beam research project, Building a More Diverse and Inclusive Public Art Sector), Katy Beinart and Suzanne Heath (ixia board members) and Elisabeth del Prete (UP projects). 118 people registered for the event via eventbrite, and 78 actually attended.
Web page
A new web page was created for Ixia - https://ixia-info.org/ [ixia-info.org] that the Board can update directly with news and information about our activity. The Board noted thanks to Henry Broome for his article on the website in November 2023 covering the online event ‘Diversity and Inclusion in the Public Art Sector’ (October 2023): Diversity and Inclusion in the Public Art Sector - Ixia-Info [ixia-info.org] . The Public Art Online continues as well: Welcome to Public Art Online [publicartonline.org.uk]
Social media
We set up a LinkedIn profile for ixia – ixia - public art think tank: Posts LinkedIn [linkedin.com] . We continued to post on X/Twitter with @publicartonline.
Online network
Using Linked In, we set up the ‘Art in Public Realm EDI network’ - Art in the Public Realm EDI Network Groups
LinkedIn [linkedin.com]
Ixia archive
There was an unsuccessful outcome of a bid to AHRC bid led by Board member Katy Beinart and Brighton University to work on Ixia Archives. The Board also continued positive negotiations with Newcastle University to take on the archives (currently in the care of Katy Beinart) and the development of potential bid with Rebecca Farley and other researchers to catalogue and use the archive.
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IXIA PA
TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Financial review
The charity returned a surplus of £19,533 for the year ended 31 March 2024 (£9,646 deficit for the year ended 31 March 2023) reflecting the Arts Council England funding received in the year. These funds will be spent during the 2024-25 year as the project continues.
As at 31 March 2024 the charity had reserves of £20,948 of which £20,740 (2023 - £1,209) related to restricted funds.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. 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 charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
Ixia PA is a charitable company limited by guarantee, incorporated on the 14 January 2003 under the name Public Art Forum and changed to its current name on the 1 October 2004. The company is governed by a Memorandum and Articles of Association. It registered as a charity with the Charity Commission on the 27 October 2004. In the event of the company being wound up, all members present and 12 months past are required to contribute an amount not exceeding £1.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Ms C Newbery Mrs S Heath Mr T Freshwater Ms S J Gray (Resigned 9 November 2023) Ms K L E Beinart Mrs K R Campostori (Resigned 15 May 2023)
The directors of the company are also charity trustees for the purposes of charity law and under the Charity's Articles are known as members. Under the requirements of the Memorandum and Articles of Association members are appointed by applying for admission in writing to the Board of Directors who will decide whether to admit or reject the applicant. Directors are elected to serve for a term of no more than six years. At every subsequent AGM, one third of the directors must retire. The directors to retire by rotation are those who have been longest in office since their last appointment or reappointment.
The company consists of a Board who oversee the development of the company. The Board meet regularly during the year.
New members are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the business plan, the decision making processes, the recent financial performance of the company, the Equality Policy and Action Plan and the Environmental Policy and Action Plan. They meet with employees and other members. Members are encouraged to attend appropriate external training events where these will improve the undertaking of their role.
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IXIA PA
TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
The trustees report was approved by the Board of Trustees.
.............................. Ms C Newbery Trustee Date: .............................................
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IXIA PA
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF IXIA PA
I report to the trustees on my examination of the financial statements of IXIA PA (the charity) for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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
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4 the financial statements 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 concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Robert Anderson FCA
Azets Audit Services
3Mc Middlemarch Business Park Siskin Drive Coventry CV3 4FJ United Kingdom
Dated: .........................
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IXIA PA
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income from: Donations and legacies 2 - 25,000 Charitable activities Investments 3 2 - Total income 2 25,000 Expenditure on: Charitable activities Advocacy and advice 4 - 5,469 Total charitable expenditure - 5,469 Net income/(expenditure) for the year/ Net movement in funds 2 19,531 Fund balances at 1 April 2023 206 1,209 Fund balances at 31 March 2024 208 20,740 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 25,000 - 6,150 2 - - 25,002 - 6,150 5,469 711 15,085 5,469 711 15,085 19,533 (711) (8,935) 1,415 917 10,144 20,948 206 1,209 |
Total 2023 £ 6,150 - 6,150 15,796 15,796 (9,646) 11,061 1,415 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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IXIA PA
BALANCE SHEET
AS AT 31 MARCH 2024
| Notes Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Income funds Restricted funds 11 Unrestricted funds |
2024 £ 12,500 9,288 21,788 (840) |
£ 20,948 20,740 208 20,948 |
2023 £ 1,250 255 1,505 (90) |
£ 1,415 |
|---|---|---|---|---|
| 1,209 206 |
||||
| 1,415 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on .........................
.............................. Ms C Newbery Trustee
Company registration number 04636546
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
IXIA PA
1 Accounting policies
Charity information
IXIA PA is a private company limited by guarantee incorporated in England and Wales. The registered office is Sylcote, Torpenhow, Wigton, Cumbria, CA7 1JF, United Kingdom.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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 (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Assets for distribution are recognised only when distributed. Assets given for use by the charity are recognised when receivable. Stocks of undistributed donated goods are not valued for balance sheet purposes.
1.5 Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
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IXIA PA
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Donations and legacies
| Restricted | Restricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Donations and gifts | - | 4,900 |
| Arts Council England | 25,000 | 1,250 |
| 25,000 | 6,150 |
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IXIA PA
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
2 Donations and legacies
(Continued)
During the year the charity was awarded a grant of £25,000 from Arts Council England for a Public Art Support Pilot project.
3 Investments
| Unrestricted funds 2024 £ Interest receivable 2 Charitable activities 2024 £ Consultancy 4,370 Venue hire and catering - Marketing - 4,370 Share of support costs (see note 5) 377 Share of governance costs (see note 5) 722 5,469 Analysis by fund Unrestricted funds - Restricted funds 5,469 |
Total 2023 £ - |
|---|---|
| 2023 £ 13,185 1,400 500 |
|
| 15,085 47 664 |
|
| 15,796 | |
| 711 15,085 |
4 Charitable activities
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IXIA PA
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
5 Support costs
| Support costs | ||
|---|---|---|
| Support costs Governance costs £ £ Insurance 96 - IT and website 281 - Accountancy - 552 Legal and professional - 170 Board expenses - - 377 722 Analysed between Charitable activities 377 722 |
2024 Support costs Governance costs £ £ £ 96 - - 281 47 - 552 - 240 170 - 130 - - 294 1,099 47 664 1,099 47 664 |
2023 £ - 47 240 130 294 |
| 711 | ||
| 711 |
All support and governance costs have been allocated to core charitable activities.
Governance costs includes payments to the accountants of £552 (2023- £240) for the independent examination (2023 - accounts).
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
7 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
8 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
9 Debtors
| Debtors | ||
|---|---|---|
| 2024 | 2023 | |
| Amounts falling due within one year: | £ | £ |
| Trade debtors | 12,500 | 1,250 |
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IXIA PA
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
10 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| Trade creditors Accruals and deferred income |
2024 £ 300 540 840 |
2023 £ - 90 |
| 90 |
11 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement | in funds | Movement | in funds | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Balance at | Incoming | Resources | Balance at | Incoming | Resources | Balance at | ||||
| 1 April 2022 | resources | expended | 1 April 2023 | resources | expended | 31 | March 2024 | |||
| £ | £ | £ | £ | £ | £ | £ | ||||
| Arts Council | ||||||||||
| England - | ||||||||||
| Organisational | ||||||||||
| Development | ||||||||||
| 10,144 | 1,250 | (10,185) | 1,209 | - | (1,209) | - | ||||
| Arts Council | ||||||||||
| England - | ||||||||||
| Public Art | ||||||||||
| Support Pilot | - | - | - | - | 25,000 | (4,260) | 20,740 | |||
| 10,144 | 1,250 | (10,185) | 1,209 | 25,000 | (5,469) | 20,740 | ||||
| 12 | Analysis of net assets between funds | |||||||||
| Unrestricted | Restricted | **Total ** | Unrestricted | Restricted | Total | |||||
| funds | funds | funds | funds | |||||||
| 2024 | 2024 | 2024 | 2023 | 2023 | 2023 | |||||
| £ | £ | £ | £ | £ | £ | |||||
| Fund balances at 31 | ||||||||||
| March 2024 are | ||||||||||
| represented by: | ||||||||||
| Current assets/(liabilities) | 208 | 20,740 | 20,948 | 206 | 1,209 | 1,415 | ||||
| 208 | 20,740 | 20,948 | 206 | 1,209 | 1,415 |
13 Related party transactions
During the year fees of £3,000 were paid to a former trustee, after they had resigned as a trustee, for project management work.
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