**CHARITY REGISTRATION NUMBER: 1114079** ## **FG CHARITABLE TRUST Unaudited Financial Statements 31st May 2021** ## **GRIFFITHS & PEGG LIMITED** Chartered Accountants 3 Hagley Court South Waterfront East Level Street Brierley Hill DY5 1XE ## **FG CHARITABLE TRUST** ## **Financial Statements** ## **Year ended 31st May 2021** ||**Pages**| |---|---| |Trustees' annual report|**1 to 4**| |Independent examiner's report to the trustees|**5**| |Statement of financial activities|**6**| |Statement of financial position|**7**| |Notes to the financial statements|**8 to 15**| **Page 1** ## **FG CHARITABLE TRUST** ## **Trustees' Annual Report** ## **Year ended 31st May 2021** The trustees present their report and the unaudited financial statements of the charity for the year ended 31st May 2021. ## **Reference and administrative details** |**Registered charity name**|FG CHARITABLE TRUST| |---|---| |**Charity registration number**|1114079| |**Principal office**|261A CHARNWOOD ROAD| ||LOUGHBOROUGH| ||LEICESTERSHIRE| ||LE12 9NW| |**The trustees**|| ||Mr G Billage| ||Mr M Billage| ||Mr I Billage| ||Mrs B Billage| ||Mrs P Abrey| ||Mr B Bland| ||Mrs M Bland| ||Mr G Smith| ||Mrs S Smith| ||Mrs S Billage| |**Independent examiner**|Adrian Grainger, on behalf of Griffiths & Pegg Limited| ||3 Hagley Court South| ||Waterfront East| ||Level Street| ||Brierley Hill| ||DY5 1XE| **Page 2** ## **FG CHARITABLE TRUST** ## **Trustees' Annual Report** _**(continued)**_ ## **Year ended 31st May 2021** ## **Structure, governance and management** The Trust was established by a charitable trust deed on 14 March 2006. The trustees who served during the year and up to the date of signature of the financial statements were: Gordon Billage Mark Billage Barbara Billage Bryan Bland Ian Billage Pamela Abrey Margaret Bland Grant Smith Susan Smith Shirley Billage The trustees are appointed by a resolution of a meeting of the trustees. The Trustees conduct the affairs of the Charity in such manner as they may consider appropriate. and may make such arrangements in relation to the administration of the Charity as they consider advisable. Decisions taken by a majority of Trustees at any duly constituted meeting are valid and binding on all trustees. ## **Objectives and activities** The Trust objectives are: - the relief of poverty, distress or suffering by the use of grants to appropriate Christian organisations to provide assistance (whether medical, rehabilitative financial or other) in any part of the world and in particular (but without prejudice to the generality of the foregoing) by provision of aid to the needy in Africa, South America, the Indian sub-continent and eastern Europe whether victims of: - (a) breaches of human rights; - (b) any public calamity (including famine, earthquake or pestilence); - (c) war or civil disturbance; - (d) the immediate or continuing effects of lack of natural or other resources; or - (e) any other cause of poverty distress or suffering. - the promotion and advancement of the Christian faith, the worship of God and the spreading of the gospel of the Lord Jesus Christ. There has been no change in these policies or objectives during the year. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake. **Page 3** ## **FG CHARITABLE TRUST** ## **Trustees' Annual Report** _**(continued)**_ ## **Year ended 31st May 2021** ## **Achievements and performance** Income for FG Charitable Trust is via invested capital managed by a specialist company dealing with many charities and listed companies over a wide spread of industries and countries, plus investments in property in the UK and via Impact Investment projects in Kenya through two separate funds. Investments are reviewed on a regular basis and via an annual meeting with the Account Director of the specialist company involving at least 2 or 3 trustees. Income from our Kenyan investments continues to be impacted by the COVID pandemic, however the outlook remains strong, but our investments are likely to be realised in the mid to long term rather than the short term. There are three properties in the UK that the Trust has an interest in. One is by way of shared ownership with the value being realised on sale of the property, the other two are by way of term loans being repaid monthly over a period of years. Income from these properties is distributed to projects as is the dividend income from the other investments. Disbursements have continued to focus on supporting organisations that work with Children & Young People as well as the Poor & Needy. The Trust also supports several Church and Community projects. As trustees we aim to support smaller charities where we can make a greater difference, rather than larger organisations where they receive funds from a wider base of contributors. An approximate indication of regions and particular needs supported, is shown below. Funds allocated during the past 12 months were on the following basis: ||2020/21|2019/20| |---|---|---| |Overseas Projects|76.0%|60.0%| |• Africa|23.0%|20.0%| |• Asia|42.0%|30.0%| |• Middle East|6.5%|6.0%| |• Europe (Exc. UK)|2.5%|3.0%| |• South America|2.0%|0.0%| |• Rest of World|0.0%|1.0%| |UK Projects|20.0%|32.0%| |Overheads|4.0%|8.0%| |Disbursable funds were allocated to the following areas of need:||| ||2020/21|2019/20| |• Children, Young People, Schools & Colleges|48.3%|41.0%| |• Work amongst poor, needy, vulnerable & abused|20.2%|21.0%| |• Hospitals & Disaster Relief|10.5%|0.0%| |• Church & Community Projects|17.2%|34.5%| |• Literature Distribution|3.8%|3.5%| Overseas visits or meetings with representatives have not been possible due to the impact of COVID restrictions. However regular contact has been maintained wherever possible. Overheads continue to be at a normal level this year. **Page 4** ## **FG CHARITABLE TRUST** ## **Trustees' Annual Report** _**(continued)**_ ## **Year ended 31st May 2021** ## **Financial review** As in the previous year, the trust continued its support worldwide making a number of charitable donations to countries in many parts of the world. The financial objectives of the charity are largely dependant on world markets, and the effectiveness with which funds in the investment portfolio are managed. As noted above, this risk is mitigated by wider spread investment in lower risk investments. The treasurer will maintain a positive bank balance at all times from which allocations will be made. Regular income from investments is received on monthly, quarterly and 6 monthly basis and the trustees will ensure that distributions will always be confined to that available from current funds in hand. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of receipt. The trustees have assessed the major risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Given the uncertain state of the world markets, the trustees plan on continuing with a restrained approach to investment based on lower risk investments with certain but limited returns, with the exception of the investments in Kenya mentioned above, which, although of a riskier nature, are providing benefit through the effect of impact investment. The trustees' annual report was approved on 7th October 2021 and signed on behalf of the board of trustees by: Mr M Billage Trustee **Page 5** ## **FG CHARITABLE TRUST** ## **Independent Examiner's Report to the Trustees of FG CHARITABLE TRUST** ## **Year ended 31st May 2021** I report to the trustees on my examination of the financial statements of FG CHARITABLE TRUST ('the charity') for the year ended 31st May 2021. ## **Responsibilities and basis of report** As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the financial statements do not accord with those records; or 3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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 accounts to be reached. Adrian Grainger, on behalf of Griffiths & Pegg Limited Independent Examiner 3 Hagley Court South Waterfront East Level Street Brierley Hill DY5 1XE 7th October 2021 **Page 6** ## **FG CHARITABLE TRUST** ## **Statement of Financial Activities** ## **Year ended 31st May 2021** ||||**2021**||2020| |---|---|---|---|---|---| |||Unrestricted|Restricted||| |||funds|funds|**Total funds**|Total funds| ||**Note**|**£**|**£**|**£**|£| |**Income and endowments**|||||| |Donations and legacies|**4**|–|3,250|3,250|6,068| |Investment income|**5**|202,044|–|202,044|224,425| |||--------------------------------|-----------------------|--------------------------------|--------------------------------| |**Total income**||202,044|3,250|205,294|230,493| |||================================|=======================|================================|================================| |**Expenditure**|||||| |Expenditure on charitable activities|**6,7**|(235,964)|(2,250)|(238,214)|(217,604)| |||--------------------------------|-----------------------|--------------------------------|--------------------------------| |**Total expenditure**||(235,964)|(2,250)|(238,214)|(217,604)| |||================================|=======================|================================|================================| |Net gains on investments|**8**|782,775|–|782,775|275,127| |||--------------------------------|-----------------------|--------------------------------|--------------------------------| |**Net income and net movement in**|**funds**|748,855|1,000|749,855|288,016| |||================================|=======================|================================|================================| |**Reconciliation of funds**|||||| |Total funds brought forward||6,909,906|3,051|6,912,957|6,624,941| |||-----------------------------------------|-----------------------|-----------------------------------------|-----------------------------------------| |**Total funds carried forward**||7,658,761|4,051|7,662,812|6,912,957| |||=========================================|=======================|=========================================|=========================================| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. **The notes on pages 8 to 15 form part of these financial statements.** **Page 7** ## **FG CHARITABLE TRUST** ## **Statement of Financial Position** ## **31st May 2021** |||**2021**|2020| |---|---|---|---| ||**Note**|**£**|£| |**Fixed assets**|||| |Investments|**12**|7,313,447|6,630,122| |**Current assets**|||| |Debtors|**13**|174,070|185,458| |Cash at bank and in hand||176,465|98,547| |||--------------------------------|--------------------------------| |||350,535|284,005| |**Creditors: amounts falling due within one year**|**14**|(1,170)|(1,170)| |||--------------------------------|--------------------------------| |**Net current assets**||349,365|282,835| |||-----------------------------------------|-----------------------------------------| |**Total assets less current liabilities**||7,662,812|6,912,957| |||-----------------------------------------|-----------------------------------------| |**Net assets**||7,662,812|6,912,957| |||=========================================|=========================================| |**Funds of the charity**|||| |Restricted funds||4,051|3,051| |Unrestricted funds||7,658,761|6,909,906| |||-----------------------------------------|-----------------------------------------| |**Total charity funds**|**15**|7,662,812|6,912,957| |||=========================================|=========================================| These financial statements were approved by the board of trustees and authorised for issue on 7th October 2021, and are signed on behalf of the board by: Mr M Billage Trustee **The notes on pages 8 to 15 form part of these financial statements.** **Page 8** ## **FG CHARITABLE TRUST** ## **Notes to the Financial Statements** ## **Year ended 31st May 2021** ## **1. General information** The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 261A Charnwood Road, Loughborough, Leicestershire, LE12 9NW. ## **2. Statement of compliance** These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', 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)) and the Charities Act 2011. ## **3. Accounting policies** ## **Basis of preparation** The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. ## **Going concern** There are no material uncertainties about the charity's ability to continue. ## **Disclosure exemptions** The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. ## **Judgements and key sources of estimation uncertainty** The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. ## **Fund accounting** Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. **Page 9** ## **FG CHARITABLE TRUST** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31st May 2021** ## **3. Accounting policies** _**(continued)**_ ## **Incoming resources** All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. ## **Resources expended** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. ## **Investments** Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. **Page 10** ## **FG CHARITABLE TRUST** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31st May 2021** ## **3. Accounting policies** _**(continued)**_ ## **Investments in associates** Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition. ## **Investments in joint ventures** Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition. ## **Impairment of fixed assets** A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. ## **Financial instruments** A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. **Page 11** ## **FG CHARITABLE TRUST** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31st May 2021** ## **3. Accounting policies** _**(continued)**_ ## **Financial instruments** _**(continued)**_ Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. ## **4. Donations and legacies** ||Unrestricted|Restricted|**Total Funds**| |---|---|---|---| ||Funds|Funds|**2021**| ||£|£|**£**| |**Donations**|||| |Donations and gifts|–|3,250|3,250| ||==============|=======================|=======================| ||Unrestricted|Restricted|Total Funds| ||Funds|Funds|2020| ||£|£|£| |**Donations**|||| |Donations and gifts|180|5,888|6,068| ||==============|=======================|=======================| **Page 12** ## **FG CHARITABLE TRUST** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31st May 2021** ## **5. Investment income** ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---| ||Funds|**2021**|Funds|2020| ||£|**£**|£|£| |Investment income|201,992|201,992|221,570|221,570| |Interest receivable|52|52|2,855|2,855| ||--------------------------------|--------------------------------|--------------------------------|--------------------------------| ||202,044|202,044|224,425|224,425| ||================================|================================|================================|================================| |**Expenditure on charitable activities by fund type**||||| |||Unrestricted|Restricted|**Total Funds**| |||Funds|Funds|**2021**| |||£|£|**£**| |Donations to Overseas||186,194|2,250|188,444| |Donations to UK||51,556|–|51,556| |Support costs||(1,786)|–|(1,786)| |||--------------------------------|-----------------------|--------------------------------| |||235,964|2,250|238,214| |||================================|=======================|================================| |||Unrestricted|Restricted|Total Funds| |||Funds|Funds|2020| |||£|£|£| |Donations to Overseas||132,808|2,837|135,645| |Donations to UK||64,762|–|64,762| |Support costs||17,197|–|17,197| |||--------------------------------|-----------------------|--------------------------------| |||214,767|2,837|217,604| |||================================|=======================|================================| ## **6. Expenditure on charitable activities by fund type** ## **7. Expenditure on charitable activities by activity type** ||Activities|||| |---|---|---|---|---| ||undertaken|Support|**Total funds**|Total fund| ||directly|costs|**2021**|2020| ||£|£|**£**|£| |Donations to Overseas|188,444|6,317|194,761|150,435| |Donations to UK|51,556|–|51,556|64,762| |Governance costs|–|(8,103)|(8,103)|2,407| ||--------------------------------|-----------------------|--------------------------------|--------------------------------| ||240,000|(1,786)|238,214|217,604| ||================================|=======================|================================|================================| |**Net gains on investments**||||| ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| ||Funds|**2021**|Funds|2020| ||£|**£**|£|£| |Gains on listed investments|782,775|782,775|275,127|275,127| ||================================|================================|================================|================================| ## **8. Net gains on investments** **Page 13** ## **FG CHARITABLE TRUST** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31st May 2021** ## **9. Independent examination fees** ||**2021**|2020| |---|---|---| ||**£**|£| |Fees payable to the independent examiner for:||| |Independent examination of the financial statements|1,170|1,170| ||=======================|=======================| ## **10. Staff costs** The average head count of employees during the year was Nil (2020: Nil). No employee received employee benefits of more than £60,000 during the year (2020: Nil). ## **11. Trustee remuneration and expenses** No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. ## **12. Investments** ||**Other**| |---|---| ||**investments**| ||**£**| |**Cost or valuation**|| |At 1st June 2020|6,630,122| |Additions|–| |Disposals|(99,450)| |Fair value movements|782,775| ||-----------------------------------------| |**At 31st May 2021**|7,313,447| ||=========================================| |**Impairment**|| |**At 1st June 2020 and 31st May 2021**|–| ||=========================================| |**Carrying amount**|| |**At 31st May 2021**|7,313,447| ||=========================================| |At 31st May 2020|6,630,122| ||=========================================| |All investments shown above are held at valuation.|| ## **13. Debtors** ||**2021**|2020| |---|---|---| ||**£**|£| |Other debtors|174,070|185,458| ||================================|================================| **Page 14** ## **FG CHARITABLE TRUST** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31st May 2021** ## **14. Creditors: amounts falling due within one year** Accruals and deferred income **2021** 2020 **£** £ 1,170 1,170 ======================= ======================= ## **15. Analysis of charitable funds** ## **Unrestricted funds** |**Unrestricted funds**|||||| |---|---|---|---|---|---| ||At 1st|||Gains and|**At 31st**| ||June 2020|Income|Expenditure|losses|**May 2021**| ||£|£|£|£|£| |General funds|6,909,906|202,044|(235,964)|782,775|7,658,761| ||=========================================|================================|================================|================================|=========================================| ||At 1st|||Gains and|At 31st| ||June 2019|Income|Expenditure|losses|May 2020| ||£|£|£|£|£| |General funds|6,624,941|224,605|(214,767)|275,127|6,909,906| ||=========================================|================================|================================|================================|=========================================| |**Restricted funds**|||||| ||At 1st|||Gains and|**At 31st**| ||June 2020|Income|Expenditure|losses|**May 2021**| ||£|£|£|£|£| |Restricted fund|3,051|3,250|(2,250)|–|4,051| ||=======================|=======================|=======================|==============|=======================| ||At 1st|||Gains and|At 31st| ||June 2019|Income|Expenditure|losses|May 2020| ||£|£|£|£|£| |Restricted fund|–|5,888|(2,837)|–|3,051| ||==============|=======================|=======================|==============|=======================| **Page 15** ## **FG CHARITABLE TRUST** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31st May 2021** ## **16. Analysis of net assets between funds** ||Unrestricted|Restricted|**Total Funds**| |---|---|---|---| ||Funds|Funds|**2021**| ||£|£|**£**| |Investments|7,313,447|–|7,313,447| |Current assets|346,484|4,051|350,535| |Creditors less than 1 year|(1,170)|–|(1,170)| ||-----------------------------------------|-----------------------|-----------------------------------------| |**Net assets**|7,658,761|4,051|7,662,812| ||=========================================|=======================|=========================================| ||Unrestricted|Restricted|Total Funds| ||Funds|Funds|2020| ||£|£|£| |Investments|6,630,122|–|6,630,122| |Current assets|280,954|3,051|284,005| |Creditors less than 1 year|(1,170)|–|(1,170)| ||-----------------------------------------|-----------------------|-----------------------------------------| |**Net assets**|6,909,906|3,051|6,912,957| ||=========================================|=======================|=========================================|