**Registered Charity Number: 1111961**
## **BOOST CHARITABLE TRUST**
**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 SEPTEMBER 2020**
**BOOST CHARITABLE TRUST**
## **Contents**
||**Page**|
|---|---|
|Legal and Administrative Information|1|
|Trustees’ Annual Report|2-9|
|Trustees’ Responsibilities Statement|10|
|Independent Examiner’s Report to the Trustees|11|
|Statement of Financial Activities|12|
|Statement of Financial Position|13|
|Statement of Cash Flows|14|
|Notes to the Financial Statements|15-20|
## **BOOST CHARITABLE TRUST**
## **Legal and Administrative Information**
**Charity Name:** Boost Charitable Trust
**Registered Charity Number:** 1111961
## **Correspondence Address:**
5 St Bride Street London EC4A 4AS
**Trustees:** Robert Houston (chairman) Oliver Bartrum Alurie Dutton
**Treasurer:** Throgmorton UK Ltd
**Administrator:** Liz Turtle
**Independent Examiner:** David Love Saddlers House 44 Gutter Lane London EC2V 6BR
- 1 -
## **BOOST CHARITABLE TRUST**
## **Trustees’ Annual Report for the Year Ended 30 September 2020**
The Trustees present their report and financial statements of BOOST Charitable Trust (“the Trust”) for the year ended 30 September 2020.
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 Trust Deed dated 30 September 2005 (“the Trust Deed”), the Charities Act 2011 and the 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) (Charities SORP FRS 102) published on 16 July 2014.
## **Structure, governance and management**
The Trustees who held office during the financial period and up to the date of this report were:
Robert Houston Oliver Bartrum Alurie Dutton
All the Trustees give their time freely and no trustee remuneration was paid during the year.
## **Aim of the trust**
The general aim of the charity is to champion the disadvantaged and disabled and to inspire them to overcome their challenges through the power of sport.
Boost Charitable Trust supports and complies with the Charity Governance Code for Small Charities.
## **Achievements and performance**
Incoming resources of the Trust comprised private donations and investment income. During the year, Boost Charitable Trust received £105,284 (2019: £125,514) of donations. The reduction is mainly due to a decrease in the donations to the legacy programme of sporting projects within Boost in memory of Sam Sananes. Sam was a keen sportsman and close friend of Boost.
The Sam Sananes Legacy was established in May 2017 following Sam’s untimely death at the age of 39 years. The Legacy is funded through direct donations and fundraising events and is incorporated into the overall governance and activities of Boost Charitable Trust. Grants awarded out of the Legacy funds are intended to have regard to Sam’s own sporting interests and, where appropriate, his home town of Leicester and his support for the disadvantaged and disabled, especially sufferers of Muscular Dystrophy.
£181,095 has been raised to date mainly through donations, the annual St Bride’s v Boost golf day and sponsored endurance events. The Legacy has supported twelve heart-warming and successful projects.
- 2 -
## **BOOST CHARITABLE TRUST**
## **Trustees’ Annual Report for the Year Ended 30 September 2020**
All of the projects Boost supports have been affected this year by COVID-19 with many unable to get back to sport since March 2020. All have thought of innovative ways to reach out to their members, whether online or in other safe ways. Fundraising has also been extremely difficult this year with the majority of the larger endurance events being cancelled.
Below is a review of Boost’s awards this year. All of these programmes are amazing and inspiring, and Boost is proud to support them.
## ➢ **All Out Africa**
Based in eSwatini, All Out Africa provides much needed sporting opportunities in this hard-pressed region. This football, basketball swimming and playground games programme is directed at orphans and vulnerable children.
## ➢ **Allsorts**
Allsorts works with families across Gloucester and surrounding counties, providing support for the whole family, as well as running youth clubs, sports sessions, a specialist toy library and family day trips. Boost supports them with their sports activities and games for primary school age children with physical disabilities and/or learning difficulties.
## ➢ **Belvoir Cricket & Countryside Trust**
Belvoir Cricket & Countryside Trust provides cricket in a country setting for children with disabilities or who are from a disadvantaged background. Boost funds their programme for special needs schools in Nottinghamshire and Lincolnshire which includes table cricket and Kwik cricket as well as other countryside pursuits.
- 3 -
## **BOOST CHARITABLE TRUST**
## **Trustees’ Annual Report for the Year Ended 30 September 2020**
## ➢ **Be Strong**
Be Strong Foundation supports and mentors ex-offenders to give them the opportunity to take control of their lifestyle and to improve their lives. The Boost grant is used for the exoffenders’ gym sessions that help rebuild individual self-esteem.
## ➢ **Better Things**
Better Things is an independent charity who have been working with people with learning difficulties and autism and their families in Manchester for over 40 years. This grant is to help fund their weekly multi-sport sessions of indoor cricket, football and netball.
## ➢ **Boccia England**
Boost continues its support for Boccia England and made a grant to fund the Super League and the Teams and Pairs competition until March 2020 after which they had to suspend activity due to COVID-19.
## ➢ **Bonny Downs**
Boost funds their free sports programme for physically inactive or disadvantaged residents in Newham. They strive to make a difference to quality of life of local people by promoting community cohesion, encouraging healthier lifestyles and tackling isolation and reasons for poverty.
- 4 -
## **BOOST CHARITABLE TRUST**
## **Trustees’ Annual Report for the Year Ended 30 September 2020**
➢ **Butler Golf Academy** Boost is a supporter of Mark Butler’s golf programme for disabled and disadvantaged people. The academy is based in the West Midlands.
## ➢ **CP Sport (Race Running)**
Boost has made a further grant to CP Sport to support the delivery of their national Race Running programme. This enables children and young people with Cerebral Palsy to experience the freedom and exhilaration of running. This is the final year of the three-year grant.
## ➢ **Doncaster Foster Carers Association**
This year, Boost has once again funded DFCA. They work closely with Trust Fostering, delivered by Doncaster Children's Services Trust, and arrange a large number of activities and events for foster carers, and those children they look after. Boost funded the sports coach to deliver weekly sessions to the children.
- 5 -
## **BOOST CHARITABLE TRUST**
## **Trustees’ Annual Report for the Year Ended 30 September 2020**
## ➢ **eSwatini Swimming**
A donation was made to eSwatini Swimming to provide a swimming coach in the deprived Big Bend area. Swimming is an essential life skill as well as a much-enjoyed sport.
## ➢ **Get Set 4 Tennis**
GS4T provides children’s disability tennis coaching. Since starting their SEND (Special Educational Needs & Disabilities) programme in August 2018, they have introduced nearly 1300 local children with SEND to tennis & won Middlesex Tennis’ Disability Programme of the Year Award. A grant was made to help them reach more children in more schools.
## ➢ **Great Britain Wheelchair Rugby**
An award was made to Great Britain Wheelchair Rugby, specifically to one of the players. This young man contracted Meningococcal Septicaemia when he was 19. He suffered amputations of parts of his fingers and toes, but the main consequence is a complex neurological condition. He is now a member of the GB Wheelchair Rugby squad.
## ➢ **Level Water**
Level water provides swimming lessons for disabled children. Boost supports them to set up hubs in the UK to offer specialist lessons. COVID-19 has made things especially tough for them this year.
- 6 -
## **BOOST CHARITABLE TRUST**
## **Trustees’ Annual Report for the Year Ended 30 September 2020**
## ➢ **Pink Lizard**
Boost and Sam’s Legacy have supported Pink Lizard for the last 3 years to help fund their sports projects. This provides sporting opportunities to youngsters in a deprived area in Leicester.
## ➢ **Rhondda Netball**
Boost continues to support Rhondda Netball to fund their coaching programme for girls in one of Wales’s most economically and socially deprived areas. They now have 746 active members – both seniors and juniors. Unfortunately, they have not been able to deliver sessions since March 2020.
## ➢ **The Running Charity**
A further grant was made to The Running Charity, an organisation which works to improve the lives of young people aged 16-24 who are homeless or at risk of homelessness. This is done through a programme of structured health and fitness activities. Sam’s Legacy programme has also supported the expansion of this project into Leeds.
## ➢ **Small Awards**
The Trust granted 24 small awards (below £750) totalling £12,447 to a wide range of other sporting initiatives.
- 7 -
**Trustees’ Annual Report for the Year Ended 30 September 2020**
## **BOOST CHARITABLE TRUST**
## ➢ **Sport in Mind – Badminton**
Boost has continued to support Sport in Mind to fund badminton sessions for people experiencing mental health problems in West Berkshire. Their outstanding success has recently been rewarded by the receipt of a Queen’s Award for Voluntary Service.
## ➢ **Sports Aid**
A grant was made to Sports Aid to help fund two young disabled sportspersons, a young disabled athlete and a deaf footballer, who currently receive no other funding.
## ➢ **WFA – Powerchair football**
Boost’s main account and Sam’s Legacy are jointly funding a Sports Development Officer for Powerchair Football. This will help to raise awareness of the sport within the Muscular Dystrophy community and increase the number of clubs in the UK and therefore participation. This is the final year of a three-year award.
- 8 -
**BOOST CHARITABLE TRUST**
**Trustees’ Annual Report for the Year Ended 30 September 2020**
## **Reserves Policy**
The policy of the Trustees is to maintain sufficient reserves in order to fulfil future expected funding requirements of projects that extend over several years as well as supporting a portfolio of new projects. In determining the appropriate level of reserves, the Trustees take into account the potential fluctuation of its income stream in future years.
As at 30 September 2020, the Trust has reserves of £1,219,189 (2019: £1,353,593), a decrease of £134,404 from the previous year. The Trustees are considering numerous new grants for the coming year and anticipate that while reserves may fluctuate from year to year, over time they will remain at a sufficient level to fund all projects.
-9-
## **BOOST CHARITABLE TRUST**
**Trustees’ responsibilities statement**
The Trustees are responsible for preparing the Trustees’ Annual Report and financial statements in accordance with applicable law and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP FRS 102).
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust at the year end and of its incoming resources and application of resources during that year. In preparing the financial statements, the Trustees should follow best practice and are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the applicable Charities SORP;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable UK 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 concern basis, unless it is inappropriate to presume the Trust will continue in operation.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and which enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of the Trust Deed. The Trustees are responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
-10-
## **BOOST CHARITABLE TRUST**
## **Independent Examiner’s Report to The Trustees**
I report on the accounts of Boost Charitable Trust for the year ended 30 September 2020.
## **Respective responsibilities of trustees and examiner**
The Trust’s trustees are responsible for the preparation of the accounts. The Trust’s trustees consider that an audit is not required for this year under section 144 (2) of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is their responsibility to:
- examine the accounts under section 145 of the Charities Act;
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act); and
- to state whether particular matters have come to our attention.
## **Basis of Independent Examiner’s statement**
My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Trust and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent Examiner’s statement**
In connection with my examination, no matter has come to my attention
- (1) which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act;
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
- (2) to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
David Love FCA
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## **BOOST CHARITABLE TRUST**
## **Statement of Financial Activities for the Year Ended 30 September 2020**
|**Note**
**Income and endowments from**
**_Income_**
Donations
2
Investment income
3
Other income
Total income
**_Expenditure on_**
_Charitable activities_
Promotion of sporting activities
amongst the disabled and
disadvantaged
4,5
Total expenditure
**Net income before gains and**
**losses on investments**
Net losses on investments
6
**Net movement in funds**
**Fund balances brought forward**
**Fund balances carried forward**|**Unrestricted**
**funds**
**£**
105,284
49,156
-
154,440
128,510
128,510
25,930
-
25,930
**123,916**
**149,846**|**Expendable**
**Endowment**
**£**
-
-
-
-
-
-
-
(160,334)
(160,334)
**1,229,677**
**1,069,343**|**2020 Total**
**funds**
**£**
105,284
49,156
-
154,440
128,510
128,510
25,930
(160,334)
(134,404)
**1,353,593**
**1,219,189**|**2019 Total**
**funds**
**£**
125,514
51,911
150|
|---|---|---|---|---|
|||||177,575|
|||||166,469|
|||||166,469|
|||||11,106
(13,788)|
|||||(2,682)
**1,356,275**|
|||||**1,353,593**|
All income and expenditure derive from continuing activities.
The statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 15 to 20 form part of these financial statements.
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## **BOOST CHARITABLE TRUST REGISTRATION NUMBER: 1111961**
## **Statement of Financial Position As at 30 September 2020**
|**Note**
**Fixed assets**
Investments
**6**
**Current assets:**
Debtors
**7**
Cash at bank and in hand
Total current assets
**Liabilities:**
Creditors due within one year
**8**
**Net current assets**
**Net assets**
**Representing:**
**The funds of the charity:**
Expendable Endowment
**9**
Unrestricted Income
**9**
**Total charity funds**
**9**|**2020**
**£**
994,342
24,657
230,221
254,878
(30,031)
**224,847**
**1,219,189**
1,069,343
149,846
**1,219,189**|**2019**
**£**
1,154,676
11,619
229,067|
|---|---|---|
|||240,686
(41,769)|
|||**198,917**|
|||**1,353,593**|
|||1,229,667
123,916|
|||**1,353,593**|
These financial statements were approved by the Trustees on 12[th] February 2021 and signed on their behalf by:
## **R I Houston Chair of Trustees**
The notes on pages 15 to 20 form part of these financial statements.
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## **BOOST CHARITABLE TRUST**
## **Statement of Cash Flows For the year ended 30 September 2020**
|**_Cash flows from operating activities_**
Net movement in funds
_Adjustments for:_
Interest receivable
Dividend income from investments
Losses on investments
(Increase)/decrease in debtors
Decrease in creditors
**_Cash used in operating activities_**
**_Cash flows from investing activities_**
Interest
Investment
Dividend income from investments
**_Cash generated from investing activities_**
**_Change in cash and cash equivalents in the year_: **
**_Cash and cash equivalents at the beginning of the year_**
**_Cash and cash equivalents at the end of the year_**
**_Analysis of cash and cash equivalents_**
Cash at bank
**_Total cash and cash equivalents_**|**2020**
**£**
(134,404)
(436)
(48,720)
160,334
(12,783)
(11,738)
(47,747)
436
-
48,465
48,901
1,154
229,067
**230,221**
**230,221**
**230,221**|**2019**
**£**
(2,682)
(701)
(51,210)
13,788
2,507
(20,347)|
|---|---|---|
|||(58,645)|
|||701
-
53,380|
|||54,081|
|||(4,564)
233,631|
|||**229,067**|
|||**229,067**|
|||**229,067**|
The notes on pages 15 to 20 form part of these financial statements.
-14-
**Notes to the Financial Statements**
## **BOOST CHARITABLE TRUST**
## **1. Accounting policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **a. Basis of preparation and assessment of going concern.**
The financial statements have been prepared on a going concern basis under the historical cost convention, with the exception of investments which are included at market value.
The financial statements have been prepared in accordance with the Statement of Recommended Practice: (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) (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Boost Charitable Trust (“the Trust”) meets the definition of a public benefit entity under FRS 102.
The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. With respect to the next reporting period, 2019-20, the most significant areas of uncertainty that affects the reserves of the Trust is the level of investment returns and the performance of investment markets.
## **b. Funds structure**
The charity has a single expendable endowment created by a lump sum donation of £1million. This provides for the Trustees to invest the capital, the income from which is to be wholly unrestricted. The expendable endowment is to be used for the general purposes of the Trust, namely to promote sporting activities for disabled and disadvantaged children and adults. The terms of the fund allow the capital to be spent if the Trustees so determine.
The charity has also received donations which are wholly unrestricted.
## **c. Incoming resources**
All incoming resources are recognised once the charity has entitlement to the resources, it can be certain that the resources will be received and the monetary value of the incoming resources can be measured with sufficient reliability.
Investment income is recognised on a receivable basis.
## **d. Resources expended**
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs to the category.
-15-
**Notes to the Financial Statements**
## **BOOST CHARITABLE TRUST**
## **d. Resources expanded (continued)**
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the Trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside the control of the Trust.
## **e. Irrecoverable VAT**
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred
## **f. Allocation of overhead, support and governance costs**
Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.
Governance costs and support costs relating to charitable activities have been apportioned over the appropriate categories, as detailed in note 5, on the basis of the number of individual grant awards made in recognition that the administrative costs of assessing, awarding and monitoring each grant is broadly equivalent.
## **g. Charitable activities**
Costs of charitable activities include grants made and an allocation of support costs which are shown in note 4.
## **h. Policy on recognition of valuation of donated services**
The Trust relies on donated time from the Trustees’ and for administrative and treasury services. These donated services do not incur any financial or legal obligations to the Trust.
## **i. Financial instruments**
The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of investments.
## **j. Fixed asset investment**
Investments are stated at market value. Any gains or losses on the movement in market value are taken to the statement of financial activities as they arise.
## **k. Gains and losses**
All gains and losses are taken to the Statement of Financial Activities as they arise.
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**BOOST CHARITABLE TRUST**
## **Notes to the Financial Statements**
## **2. Donations**
Income from donations totalled £105,284 (2019: £125,514) which was unrestricted.
## **3. Investment income**
|Interest on cash deposits
Income from investments|**2020**
**£**
436
48,720
**49,156**|**2019**
**£**
701
51,210
**51,911**|
|---|---|---|
## **4. Analysis of expenditure on charitable activities**
The charity undertakes its charitable activities through grant making and awarded grants to a number of charities, trusts and other appropriate organisations in furtherance of its charitable activities.
|**Charitable activity**
Promotion of sporting
activities amongst the
disabled and disadvantaged|**Support**
**grants to**
**institutions**
**£**
105,064
105,064|**Allocation of**
**governance**
**costs**
**£**
23,446
23,446|**Total**
**expenditure**
**2020**
**£**
128,510
128,510|**Total**
**expenditure**
**2019**
**£**
166,469|
|---|---|---|---|---|
|||||166,469|
Fees payable to the independent examiner for his independent review were £nil (2019: £nil).
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## **BOOST CHARITABLE TRUST**
## **Notes to the Financial Statements**
## **4. Analysis of expenditure on charitable activities (continued)**
## _**Support grants by institution**_
|Allsorts
Beacon Centre
Belvoir Cricket & Countryside Trust
Be Strong project
Better things
Boccia England
Bonny Downs
Butler Golf Academy
CP Sport (Race Running)
Doncaster Foster Carer’s Association
Exeter City Community Trust
GB Wheelchair Rugby
Get Set 4 Tennis
Level Water
Loughborough – Volunteer Zambia
MD UK Powerchair Football
Pink Lizard
Rhondda Netball
Running Charity Northern Project
Small Awards
Southwark City Tennis Club
Sport In Mind
Sports Aid
Swaziland / All out Africa
Swaziland Swimming
The Running Charity|**2020**
**£**
4,360
-
7,666
10,140
-
(1,875)
-
3,390
15,000
1,000
-
-
1,900
4,000
(3,500)
9,536
3,000
-
13,000
12,447
-
-
2,000
14,000
-
9,000
**105,064 **|**2019**
**£**
-
5,000
7,313
9,650
1,700
13,125
4,996
-
15,000
1,000
3,323
3,000
-
-
-
4,200
6,320
4,975
-
16,893
2,070
6,921
2,082
14,000
5,661
14,000|
|---|---|---|
|||**141,229**|
A description of the projects funded by the grants is given in the Trustee's Annual Report.
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## **BOOST CHARITABLE TRUST**
## **Notes to the Financial Statements**
## **5. Governance costs**
|Administrative staff
Accountancy fee
Insurance indemnity
Advertising and sponsorship
Bank fees
Other|**2020**
**£**
9,620
11,568
786
340
225
907
**23,446**|**2019**
**£**
9,341
11,568
1,524
2,122
289
396|
|---|---|---|
|||**25,240**|
Governance costs have been apportioned to charitable activities on a pro rata basis in accordance with the number of grants awarded during the year to each of the charitable activities.
St Bride’s Strategic Advisers and St Bride’s Managers donated time for administration and treasury services as well as making donations. The Trustees are most grateful to St Bride’s for their support.
## **6. Investments**
|Value brought forward
Additions
Net losses on investments
Value carried forward|**2020**
**£**
1,154,676
-
(160,334)
**994,342**|**2019**
**£**
1,168,464
-
(13,788)|
|---|---|---|
|||**1,154,676**|
Investments are financial assets held at fair value.
## **7. Debtors**
|Investment income
Gift aid on donations|**2020**
**£**
8,852
15,805
**24,657**|**2019**
**£**
8,597
3,022|
|---|---|---|
|||**11,619**|
All debtors are financial assets held at amortised cost.
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## **BOOST CHARITABLE TRUST**
## **Notes to the Financial Statements**
## **8. Creditors due within one year**
|Grant commitments
Accruals|**2020**
**£**
27,631
2,400
**30,031 **|**2019**
**£**
39,369
2,400|
|---|---|---|
|||**41,769**|
All creditors are financial liabilities held at amortised cost.
All grants are subject to quarterly review and reporting. The Trustees have approved a number of grants during the year to September 2020. These grants relate to where donations have been received by the Trust during the year, and the Trust intends to use these monies for a group of projects which have been supported by the donors. The Trustees have retained the discretion to reallocate these monies if performance criteria are not met. Grant commitments are recognised where performance criteria have been met.
## **9. Analysis of charitable funds**
|Expendable Endowment fund
Unrestricted Income fund|**Investments**
**£**
994,342
-
**994,342**|**Net**
**current**
**assets**
**£**
75,000
149,847
**224,847**|**Total**
**2020**
**£**
1,069,342
149,847
**1,219,189**|**Total**
**2019**
**£**
1,229,677
123,916|
|---|---|---|---|---|
|||||**1,353,593**|
## **10. Related party transactions and trustees remuneration**
Trustees received no emoluments or reimbursement of expenses during the year (2019: £nil).
The Trustees are the key management personnel of the Trust.
-20-