Kingdom Faith South West Annual Report and Financial Statements For the Year Ended 31 December 2023 Charity R¢gist8rad in England and Wales Number: 1107721
Kingdom Faith South West Contents For the Year Ended 31 December 2023 Pa Contenls Reference and Administrative Detsils Trustees, Annual Report Independenl Examinerfs Report Statement of Financial Activities Balance Sheet 10 Notes to the Financial Statements Prepared By Albert Goodman LLP
Kingdom Faith South West Reference and Administrative Details For the Year Ended 31 Decetnber 2023 Trustees M A Baker J C Butler A K Kitchingman S E Mathers MB Watt Princlpal Office CreSnI House 3-7 The Mount Taunton Somerset TA13NR Registered Office CreSnt House 3-7 The Mount Taunton Somerset TA1 3NR Independent Examiner Michelle Ferris Bsc (Hons) FCA DChA Albert Goodman LLP Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX Prepared By Abert Goodman LLP
Kingdom Faith South West Trustees, Report For the Year Ended 31 December 2023 The Trustees present their annual rerK)rt logether with the report on the a(onts for Kingdom Fallh South West (the charity) for the year ended 310ecember 2023 The Charity is a trust foed uler declaration of trust dated 23 Dember 2004 and supplemented by the Charitable Trusl Deed daled 9 October 2017 and approved by the Charity Commission. Trustees are appointed by the existing Trustees provided they are approved by the Spiritual Leadership of the church. and are appointed on the basis of their expertise and involvement in furthering the objects of the charity. The financial slatements have been prepared in accordance wth the acwunting w)licies set out in note 1 to the financial statements and comply the Charities Act 2011. Ihe Trust Deed, and Accounting and Reporting by Charities.. Statement of Recommended Practi applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 20191. StructUTe. governance and management Kingdom Faith South West is govemed by a Trust Deed dated 23rd Dember 2004 with a supplementary Trust Deed daled 19 October 2017 and operates as a charity registered in the UK. The trustees have considered the key operational. financial and strategic risks that have a bearing on the charity. Suitable management infomation is available to the trustees on a regular basis to monitor these risks and allow any appropriate action be taken to address them. The trustees who served during the year are as listed on page 2 of this rewrt. The church vision and directions are led by the leadership team. New Trustees are appointed by the leadership team, usually from among the church membership. and sign a document of willingness lo act as a trustee. They are provided with an induction to explain the operations of the charity and their associated responsibilty as tmstees. The Tnjstees meet approximatety 3 times a year lo review performance, operating plans. budgets and building matters. Operatiorial decisions are taken by the leadership team and staff. As with previous years we have continued lo build relationship and support the work of other charities and churches.. Kingdom Faith Horsham Kingdom Faith Yorkshire Kingdom Fatth London KFSW continues to have a global perspective and works with some indtviduals and groups across Ihe world which align with the chattty's vision and objectives, including.. Asian Foundation (Mongolia) l Mongolian Children's Foundation AWM l Hamsayeh - SLtpwrl of individuals working wÈth Christians from countries where Christianty SLrfFers persecution Samaritans Purse- donations to disaster relief and humanitarian support throughout the world Prepareit By Albert Goodman LLP
Kingdom Faith South West Trustees, Report For the Year Ended 31 Dember 2023 As in previous years KFSW has donated financialty to two communty support organisations in the area.. Taunton Foodbank (part of Trussell Trust) as a means of supporting those in hardship in the local community and the Salvation Army. We also continue to provide support to our local community Ihrough our Baby Bank oulreach project which provides nappies and wipes to families who are experiencing financial hardship. Objectives and Activities The objects of the charity laid down in the trust deed are. for the benefft of the public: 3.2.1 To advance the Christian faith lin accordance wth the statemenl of beliefs) in such ways and in such parts of the United Kingdom or the world as the Trustees from time to time may think fit., 3.2.2 To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds. goods or services of any kind including through the provision of counselling and support in such parts of the United Kingdom or the world as the Trustees from time to time rnay think fil.. and 3.2.3 To advan education in such ways and in such parts of the United Kingdom or the world as the Trustees from time to time may think fit. These objectives have been reviewed to ensure they continue to reflect our aims and they have remained unch8nged Sin the last annual report of the tnjstees. The Trustees have due regard lo the public benefit guidance issued by the CharÉty Commission. The main strategies adopted for erisuring the aims and objectives of the ch8rity are OUrked are: Conducting meetings Running a church centre Organising activities, groups and missions Working wth other Christian organisations Achigvoments and Perforniance Phase 1 of the planned upgrade of our streaming l a110 I visual systems happened successfully this year. The majority of the work took place in our worship hall on the top floor. wilh the installation of a new sound desk. speaker system and new sound equipment for the worship team. Some aspecls of the upgrade to the slreaming capabilities took place. the rem8inder of the WOTk will happen in phase 2 in 2024. During the year the planned upgrade of the main toilet block was accomplished. This has enabled us to upgrade some of the sanitary fixtures, refuttjish tired cubicles {whilst retaining all the original fixtures and fittings), redecorate the walls and upgrade lighting. This project is a big success and has given the toilet block a modem and bright look. Work has also been undertaken to repair areas of the replament roof to address collecting water under the roof felt. Considerable time and effort have been taken to find and fix the cause of a le8k within the intemal walls of the building. This has now been resofved allhough some small redecoration will be needed where there has been water damage. There has been signrficant numerical growth in Ihe church during 2023. particularly in the children's ministries, which has been very encouraging. The growth means that there will need to be a restructuring of meeting rooms and areas within the next year and a review of facilities. Prepared By Albert Goodmarh LLP
Kingdom Faith South West Trustees, Report For the Year Ended 31 Dember 2023 The Trustees have admired the ftexibilty and adaptability of the whole church while all the above has taken place, who have enabled church lrfe to continue despite disruption to some areas of the building. Staff and Volunteers The Twstees greatly appreciale the way the Pastors and Support Staff have served the church and communty in the past year. The Trusteeg honour the way that staff and volunteers serve the mission and objectives of the church on a continual basis. Three trustees are volunteers who give considerabte input to enable KFSW Church to carry OLrt ils duties to what we consider to be a very high standard. The trustees would also like to thank Tony Kil¢hingman who has carried out his role as Chairperson of the Truslees for the last year since Michael Barling resigned in 2022. Future Developments for 2024 The following developments are anlicipated during the coming year to ensure that Crescent House and its facilities continue to serve the vision of the church. Phase 2 of the streaming l audio I visual system - particularly the intemal retay of services and streaming upgrade. A refresh of the communal areas wtthin the building including signage, redecoralion of sorne areas of the middle floor and ground floor offices_ Upgrade of downstairs toilets. Prepared By Albert Goodman LLP
Kingdom Faith South West Trustees, Report For the Year Ended 31 December 2023 Flnancial Review The statement of financial activibes is sel oui on page 9 of this report. A summary of Ihe financi81 results is set out below.. Income generation The principal source of income comprises tilhes and offerings from members. Including this, total unrestricted income for the year was £296,963 (2022- £222.670) and total restricted income was £8,822 (2022-. £2.8811. The surplus generated in the year was £19.913 (2022.. deficit of £32.018}, with total reseNes being £823,658 {2022. £803,745). Of these reserves carried forward, £4.060 was restricted, leaving £819,598 unrestricted12022= £2,365 restricted and £801,380 unrestricted). Investment poliGy The charity has adopted a low-risk investment strategy with accounts wth Kingdom Bank. Inveslments are reviewed annually. Fund raising The ch8rity relies on voluntary donations from its members for its income. The charity does not employ professional fund raising bodies. RestriGted funds Detsils of the restricled funds held during the year are set out in note 9. Reserves policy It is the policy of the charity to maintain unreslricted funds, which are the free reserves of the charity, at 8 level which equales to approximately three months unreslricted expendf(ure. This provides sufficient funds to cover management, administration and supports costs. 3 months unreslricted expenditure would equate to approximately £60k. The free reserves of Ihe charity at the end of the year were £202.400 (unrestricted funds less red assets, add back loans tsken out to fund those assets). The charity intends to use Ihe excess funds for overpaying the mortgage. completion of the upgrade to the toilet facilities on the ground floor, upgrading the Streaming systems, as well as holding additional reserves for future building repairs. Costs and timings for these amounts are yet unknown. It's expected that adaption and flexibilty will remain key in the church's approach for the next year with the increasing costs of living and as a result we will keep all income and expenditure under review to ensure the conlinued well-being and appropriate financial health of KFSW. Prepared By Abert Gocmlman LLP
Kingdom Faith South West Trustees. Report For the Year Ended 31 December 2023 Statement of trustee$ responsibilities The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102= The Financial Reporting Standard applicable in the UK arid Republic of Ireland (United Kingdom Generally Accepted Accounting Practi). The law applicable lo charities in England & Wales requires the trustees lo prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the chanty for that period. In preparing these financial statements, the trustees are required 10- select suitsble accounting policies and then apply them consistently; observe the methods and PTinciples in the Charilies SORP: m8ke judgments and accounting estimates that are reasonable and prudent- state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements, and prepare the financial statements on the going conrn basis unless tl is inappropriate to presume that the charity will continue in business. The trustees are responsible for maintsining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. the Charity (Accounts and Reports} Regulations 2008 and the provisions of Ihe trust deedlconslitution. They are also resF)onsible for safegLrarding the assets of the charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the Maintenan and integrity of the charity and financial infomiation included on the charity's websile. Legislation in the United Kingdom goveming the preparatiori and dissemination of financial statements may differ from legislation in other jurisdictions. Signed by order of the trustees on 2110712024 A K Kitchingman Trustee Prepared By Albert Goodman LLP
Klngdom Faith South West Independent Examinerfs Report For the Year Ended 31 December 2023 Independent examiner's rgPQrt to the Trustees of Kingdom Faith South West I report to the trustees on my examination of the accounts for Kingdom Faith South West llhe charity") for the year erKled 31 December 2023. Responsibilities and basls of report As the charty trustees of the ch8rity you are responsible for the preparation of the accounts in accordance with the requirements of the Chartties Act 2011 {Yhe 2011 Act')- I report in respect of my examination of Ihe charity's accounts carried out under section 145 of the 2011 Act and in carrying OLrt my examination I have followed all the applicable Directions given by the Charity Commission under seclion 145(5){b) of the 2011 Acl. Independent examiner's statement Since the charity's gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confim that l am qualified to undertake the examination because l am a member of the Institute of Charted Accountants in England and Wales. which is one of the listed b(Klies. I have completed my examination. I confimi that no material matters have come to my attention in connection wilh the examination giving me cause to believe that in any material respect.. 1. accounting records were not kept in reswi of the charity as required by section 130 of the 2011 Act.. or 2. the accounls do not comply wilh these records". or 3. the a(Eounts do not comply wtlh the applicable requirements conceming the fomi and content of Ihe accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a rue and fair viW which is not a matter considered as part of an independent examination. I have no concerns 8nd have come across no other mallers in connection with the ex2min8tion to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Michelle Ferns BSC {Honsl FCA DChA Albert Goodman LLP Goodwood House Blackbrook Park Avenue Taunton TA1 2PX Date.. 1210812024 Prepared By Abert Goodman LLP
Kingdom Faith South West statement of Financial Activities For the Year Ended 31 December 2023 Unres- tricted Res- tricted Total Unres- 2023 tricled Res- tricted Total 2022 Notes Income and endowments Donations Investment income 293,807 3,156 8,822 302,629 3,156 222,126 517 2,881 225,007 517 Total income 296,963 8,822 305,785 222,670 2,881 225,551 Expenditure Expenditure on charitable activities 257,906 27,966 285,872 239,284 18,285 257,569 Total expenditure 257.906 27,966 285,872 239,284 18,285 257,569 Net incomellexpenditure) 39.057 119.144) 19,913 (16,6141 (15.4041 132.0181 Transfers beeen funds 120.839) 20,839 (15,6861 15,686 Net movement in funds 18,218 1.695 19.913 (32.300) 232 132,018) Reconciliation of funds Fund balances at 1 January 2023 801,380 2.365 803.745 833,680 2,083 835,763 Fund balances at 31 December 2023 819,598 4,060 823,658 801,380 2.365 803,745 The results for the year derive from continuing activtlies and there are rK) gains or k)sses other than those shown above. Ppared By Albert Goodman LLP
Kingdom Faith South West Balance sheet As at 31 December 2023 Total 2023 Totsl 2022 Notes Fixed assets Tangible fixed assels 776.776 791,189 Current assets Debtors Cash at bank and in hand 11,574 197,855 10,527 189,907 209.429 200,434 Creditors Amounts falling due within one year (32,221} (20,030) Net current assets 177,208 180,404 Long temi liabilities {130,326} {167,8481 Net assets 823,658 803,745 The funds of the chaTity Restricted funds Unrestricted funds 4,060 819,598 2,365 801,380 823.658 803,745 Approved by the Board for issue on 2110712024 and signed on tts behaff by.. A K Kitchingman Trustee M Baker Trustee Prepared By Albert GoThlman LLP 10
Kingdom Faith South West Notes to the Finanal Statements For the Year Ended 31 December 2023 Accounting poli¢ies General information and basis of accounting Kingdom Faith Soulh Wesl is a chartty. registered in England and Wales. The nature of the charity's operations and rts principal activtties are set out in the Ttustees report on pages 3-7. The financial slatements have been prepared in accordan with Accounting and reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporbng Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019F (Charities SORP IFRS 102)). The charity meets the definition of public benefii entty under FRS 102. Assets and liabilities are initially recognised at historical cost or Iransaction value unless otheThYise stated in the relevant accounting policy. 1.2 Income Income from donations is recognised upon receipt. Income from investments is accounted for when receivable. 1.3 Expenditure Expenditure is accounted for on the a([ValS basis. Liabilities are recognised in the accounting period to which they relate. Support costs are those functions which assist the work of the charity but do not directly undertake charitable activities. These costs have been allocated to expenditure on charitable activities. 1.4 Fixed assets Fixed assets are valued at cost less depreciation. Depreciation is calculated to Write off the cost or valuation of fixed assets over their estimated useful lives at the following rate: Freehold property 2° straight line Freehold improvements - 10% straight line Equipment 25°A straight line 1.5 Debtors Trade and other debtors are recognised at the settlement amount due. and prepayments are valued at the amount prepaid. 1.6 Cash at bank and in hand Cash al bank and in hand comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignfficant risk of change in value. 1.7 Creditors Creditors and provisions are recognised there the charity has a present obligation resulting from a past event Ihat wll probably result in the transfer of funds lo a third paty and the amount due to settle the obligation can be measured or estimated reliably- Creditors and provisions are recognised at their settlement amount. Prepared By Albert Goodman LLP
Klngdom Faith South West Notes to the Financial Statements For the Year Ended 31 Dmber 2023 Accounting policies {continued) 1.8 Taxation The cornp8ny is a registered charity and is therefore not liable to corporation lax on its charitable activities to the extent that income and gains are applied to charitable purposes. 1.9 Fund accounting General funds are unrestricted funds receivable or generaled for the objects of the company without further specified purpose and are available as general funds. Restricted funds are to be used for Spect purposes as laid down by the donor. Expenditure which meets this criterion is charged to the fund. together with a fair allocalion of management and support costs. 1.10 Financial Instrumenls The charity only holds basic financial instruments as defined by FRS102. The financial assets and liabilities of the charity and their measurement basis are as follows.. Financial assets- trade and olher debtors are basic financial instruments and are debt instruments measured at amortised w5t. Prepayments are not financial instrurnents. Cash at bank and in hand- is classified as a basic finan(aal instrument and is measu at face value. Financial liabilities- trade creditors. accruals, and other creditors are financial instrurnents and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Donations Unres- Res- tricled tricted Total 2023 Unres- Res- tiicted tricted Total 2022 Tithes & offerings Tithes & offerings lax recovered Restricted gifts Restricted gifts tax recovered Mortgage donations Miscellaneous income 250.449 38,258 250,449 38.258 7,498 2,267 3,900 257 181,097 38.3C 181,097 38,306 2,667 607 1,910 420 7,498 1,224 2,667 214 1,043 3,900 157 393 1,910 420 100 293,807 8.822 302,629 222,126 2,881 225,007 Prepared By Albert Goodman LLP 12
Kingdom Faith South West Notes to the Financial Statements For the Year Ended 31 December 2023 Expenditure on charitable actlwtie5 Unres- Res- tricted tricted Total 2023 Unres. Res- tricted tricted Total 2022 Grants KFGifts Mission gift5 Israel Benevolence Miscellaneous Resources Purchases Miscellaneous Speakers Gifts Crescent House Buildings insurance Electricity and gas Water rates Cleaning Property repairs Ministry Wages and salaries Refreshments Children and Youth Pastoral Sundays Special events Audio MLJSIC Faith projects Conferen¢e$ Accomodation Subsistence Miscellaneous 2,550 2.550 12.152 1.000 11,579 1.621 12.152 3.468 3,468 1,000 15,482 375 1,C(JO 3,070 1,439 1.000 5,111 375 8,509 182 10.371 114 14 114 14 250 79 250 79 3,300 3,300 2,090 6,812 2,090 6,812 1,996 5,461 312 3,454 1,996 5,461 312 3,454 4,058 3.442 3.442 7,123 7,123 4,050 98,813 1,340 1,093 98.813 1,340 1.093 95,198 1,532 95,198 1,532 41 150 607 270 928 41 150 1,003 270 928 428 922 428 922 396 2,348 145 2,348 145 261 110 292 261 110 292 259 65 20 259 65 20 Depreciation Support costs Govemance costs 43,875 83,103 2.985 43,875 83,103 2,985 41.045 74.725 2,510 41,045 74,725 2,510 257,906 27,966 285.872 239,284 18,285 257,569 Prepared By Albert Gi)odman LLP 13
Kingdom Faith South West Notes to the Financial Statements For the Year Ended 31 December 2023 Expenditure on charitable activities (continued) Support costs Salaries and pensions Telephone and intemet Publicity and advertising Software Printing and stationery Postage Travel Equipment repairs Furniture and soft fumishings Other expenses Bank charges Mortgage interest and charges 59,515 2,699 163 1,334 388 13 22 1,900 1.687 2,356 324 12.702 59,515 2,699 163 1.334 56,020 2,723 961 1.342 449 40 292 274 3,134 247 292 8,951 56.020 2,723 961 1,342 449 40 292 274 3,134 247 292 8,951 13 22 1,900 1.687 2.356 324 12.702 83.103 83.103 74.725 74,725 Governance costs Professional fees Accountancy fee Independent examinalion fee 945 1.290 750 945 1.290 750 540 1,260 710 540 1.260 710 2.985 2.985 2,510 2,510 Wages and salarfes Total 2023 Total 2022 Wages and salanes Social security wsts Pension costs 130,482 124,726 7,550 7,447 20,296 19,045 158,328 151,218 The Church employs three full time and two part time members of staff. Two truslees are employed by the charity for ministerial and administration services. not for their roles as trustees. Remuneration for these individuals amounted to £99,222 (2022- £95.469) and those payrnents are permitted by the charity's governing document. The charty paid pension contributions into a defined contribution pension scheme for the benefft of the staff, including the Trustees employed by the charity. No individual earned over £60.000 {2022- nil). The key management personnel of the Church is considered to be the iwo pastors, for vthich total remuneralion amounted to £104,131 {2022= £100,198). Prepared By Abert Goodman LLP 14
Kingdom Faith South West Notes to the Finana21 Statements For the Year Ended 31 December 2023 Tangible Assets Freehold Freehold Property Improvements Equipment Total Cost Al 1 January 2023 AdditK)ns 603.452 290.322 17.382 109,054 1,002,828 12,082 29,464 At 31 December 2023 603.452 307,704 121,136 1,032.292 Depreciation At 1 January 2023 Charge for the year 36.207 12.9 70,010 26,158 105,424 5,648 211,641 43,875 Al 31 December 2023 48,276 96,168 111,072 255,516 Net book value At 31 December2023 555.176 211,536 10,064 776,776 At 1 January 2023 567.245 220,312 3,630 791,18g Debtors Total 2023 Total 2022 Gift aid lax recoverable Prepayments Other deblors 9.380 1,802 392 8,293 1,696 538 11,574 10,527 Preparèd By Albert Goodman LLP
Kingdom Faith South West Notes to the Financial Statements For the Year Ended 31 Oecember 2023 Creditors: amounts falling due within one year Total 2023 Total 2022 Other Creditors Accruals Mortgage due < 1 year 10,547 2,486 19.188 2,756 2,367 14.907 32,221 20,030 Creditors: amounts falling due after one year Total 2023 Total 2022 Mortgage 130,326 167,848 130,326 167,848 Statement of funds Opening Incoming Outgoing Balance Resources Resources Transfers Closing Balance 31112123 01101123 Restrlcted funds Mission Mongolia Help CH Baby Bank Meet for BBQ Move of God 1,110 530 3.347 600 2.857 263 115 (6,1521 {10,0001 12.438) 15,263) (2,071) (1,8601 (1821 5,042 9,470 2,365 3.274 4,663 1,597 67 Total restricted funds 2,365 8,822 (27.966) 20,839 4,060 Unrestricted funds General fund 1%,578 292,222 1218,4501 (67.950) 202,400 Deslgnated funds Property 604,802 4.741 (39.456) 47,111 617,198 Total funds 803,745 305,785 (285,8721 823,658 Prepared By Albert Goodman LLP 16
Kingdom Faith South West Notes to the Financial Ststemenls For the Year Ended 31 December 2023 Statgment of fund& 2022 Opening Incomlng Outgoing Balance Resources Resources 01101122 Transfers Closing Balance 31112122 Restri¢led funds MissKin Mongolia Help CH Baby Bank Meet for BBQ Move for God 670 281 627 613 578 100 12 13,4681 19,0001 2,798 8,719 1,738 2,365 14,0501 (1.3711 {3561 (401 3,437 448 256 28 345 Total restricted funds 2,083 2.881 {18,285) 15.686 2,365 Unrestricted funds General fund 275,459 220.416 {215,258) {84,039} 196,578 Designated funds Property 558,221 2,254 {24,026} 68,353 604,802 Total funds 835,763 225,551 {257,5691 803,745 The property restricted fund was holding the church which vras purchased some years ago. There is no requirement for this to be held in a restricted fund and therefore in 2019 the trustees elected to transfer this out in accordance wth paragraph 2.12 of the 2019 SORP. The book value of the church. less the mortgage secured on it. is now held wtlhin a designated fund. The Mission restricted fund is income r1ved for mission work which has been fully spent and the overspend transferred in from unrestricted funds. The Mongolia restricted fund is money received from offerings specified for this purpose. It has been fully spent on outreach projects in Mongolia and the overspend transferred in from unrestricted funds. The Church fund is money received for the upkeep of the church. Where amounts were fully spent on capital items which have been capitalised in the balance sheeL the purchase of these has been taken to discharge the restriction, wilh the amount being transferred out to general funds. The Help fund is money received from church members dLtring the pandemic and since for the purpose of helping people (primarily wtthin the church) who face financial hardship. Money will not necessarily be used within the financial year given but as genuine need arises. The CH fund comprises gifts that have been gtven for the upkeep or development of Crescent House and are spent as such. Prepared By Albert Goodman LLP 17
Kingdom Faith South West Notes to the Financial Statements For the Year Ended 31 December 2023 The Baby Bank fund relates to money received and spent to provide baby supplies to families in need. The Food Bank fund is donations received and expenditure relating to providing food and suppli8S to families requiring support. The designated fund is the book value of the church, less the mortgage secured on il. 10 Analysis of net assets between funds Unres- Res- tricted trlcted Total 2023 Unres- Res- tricted tricted Total 2022 Tangible assets Nel cuent assets Long term liabilities 776,776 173,148 {130.326) 776,776 791,189 177,208 178,039 (130.326) {167,848) 791,189 180,404 1167,848) 4,060 2,365 819,598 4.060 823,658 801,380 2,365 803,745 11 Related party transactions Two Trustees are employed by the charity for roles unconnected with their posttion as Ttustees as disclosed in note 4. Trustees and related parties provided donations to the charity amounting to £49,012 without condition12022.' £26,836). There are no outstanding balances wlth any related party as al the year end {2022.' £nill. Prepared By Albert Goodman LLP 18