Charity number. 1115070 THE ANNE BANKS WILL TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRII fje93
THE ANNE BANKS MLL TRUST CONTENTS Page ft•fOr•n and admlnlBtratlve detalls of the Gharlty, Its Trustws and advl8oYS Trnstees. report Ind•p•nd¢nt ¢xamlnèts roport Slatèm•nl of flnanclal actlvttl Balanc• sh•et Notss to the flnanclal s>tat? 8-15
THE ANNE BANKS YIILL TRUST REFEREMCE AND ADMINISTRATIVE DETPJLS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 6 APRIL 2023 The charws goveming document is the wll ol Mrs Anne Bank5 dated 18 June 1990 as amended by codicils dated 27 Juty 1990, 21 September 1990, 25 January 1991, 10 July 1992 and 17 June 1994. Mts 8ank$ di oft 16 February 1998, Trustees lain Davis Ire$vJned 26 January 20231 Jane Mailland [resned 26 January 2023) Freeths Trustees Limrted {¥poinled 26 January 20231 Charlty reg18twed numb•r 111507 PrfneSp•l offie• 5700 Oxford Business Park South Oxford OX4 2RW Accountants James Crwoer Kre51on Chartered Accountants Reading BrKlge House George Street Readin9 RG1 8LS 8ank•vs Handelsbanken Sexourt Tower 7th F)r. Wast Way Botley Oxford OX2 OJJ Sollcltoys Fr8elhs 5700 Oxlord 8IngSS Park South Oxfofd OX4 2RW In¥estm•nt manag•ws Ralhbone Brothers PLC 1 Curzon Street Lor¥Jon W1J SFB Pag8 1
THE ANNE 8ANKS WILL TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2023 The Tfuslees present their annual pOrt together with the financial Statements ol the Charty forth• year 6 April 2022 to 5 April 2023. Objgctlves aTrd actlvStl¢s •. Pollcl•s and obJoCtIv Th• eh•Thty i$ a P•mianent Endowm•nt CharitablÉ• Trugt. uThl8r which th• ineome 8nsing is to be paKI out lo the D(MJs Trust {lormerty the National Camè Dèfence League), the Royal Society for Ihe Proleclp)n of Birds and the Royal Society for th8 Prevention of Cruelty lo Anwnals in equal shares. The income is to be applted exclus[lY for Iheir respe¢live charitable purposes. If any of these charf(ies cease to exBt then the income shall be div*Jed b8fv10gn tha remaining chare$. If none MaIn. then the Tw$tees havo di$cr8lk)n lo pay th8 income to any charities benefitting the welfare. Care, ¢onseThation or protect¢on of lma15 and l or birds. In setting obie¢lNes and planning for activities, the Trustees given due eonsklaration lo géneral guidartè published by the Charfy Commission relating lo public benefrt. Including the guidance 'Public benef. runnin9 charity IPB21'. Achl•v•ments and perfomian a. Maln achl•v•monts of thè Charlty The Trustees eonlinue to keep under review the application ol in¢ome in attordance with the obj'ects of Ihe ¢harity and hav• distdbuled all avzilable income arising on an annual basis. by 8gr¢¢ment with the Gharities named above. The balance on the Flestri¢led In¢ome Fund as al 5 April 2022 of £82,C64 was distribLtsd equalty between the named ¢hariti¢s during tho yo4r gndod S Avril 2023. Flnan¢lal revlow OvoNIow Tho attached financial staoments show the current statè of th8 financas o( th8 Trust. The m¢Jvements in investrnents are shown in note 9. Inccrfne from investments for the year amounted to £59.112 12022: £52,205) as dotail8d In not• 3. Rental irKomg for the year amounted to £14,5Th) {2022.. £14,500). The Trustees continue to closety monitor the Wdlue of its investments and the level of #weslmenl income. b. Going concern After making apprcpriate enquir, Ihe Trustees have a reasonable expectali?n that the Charity has adequate resources to continue in operational exlence for the foreseeable future. For this reason. they conlinue to adopt th? 90ing GonGem ba$1$ in Preparing the financral statemerto. c. R01¥08 poIIGy The TnFsl88s distribute all available inc¢Jne al19 on an annual ba$Ys, after tho dedt10Th cl expenses and reserves. by agreement with the Ihfee above naned charrties. d. Investment polley Tha Chartys investment $lrate9y is to maintain the permanent endwient in real lemis while maximising tho income generated. A Brokers Pobcy Slalemenl is in plaGe. and thi$ 1$ rewiewed on an annual basis. Page 2
THE ANNE BANKS WILL TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED S APRIL 2023 o. Ri$k managgrngnt The Trustee8 hav• r•vithved the risks faced ty the Charity and have implemenled systems to mitigate these risks. In partlar. the Truste¢$ Consider that the major risk faced by the charity is the ftuctuation in the valLte of, and the income general8d by ts inveslmenls. The Trustees hav& mikngaled this risk by following thé 8dvi¢8 of 4 ading investment manager and monitoring the porlomiancel of the inve8lmenls on ongoing basis. The Tfuslees also tak6 advice from suitably qualffied professionals in respect of the trust propety. which is subject to commercial let. Structurn. gOv¢Man and management . Consiltutlon The Anne Banks Will Tnjst is a regisler8d charty. number 1115070. and is consliluled under a Wlll. The Tru$tee$ meet annual lo formally discuss and agree the Annual A¢¢ounts. to detemiine the amount of income to be distributed lo the recipnt chanb'es, to ravmv the trust oss91s. in order to assess the level of income. capilal grthrth and risk that the chanty faces. The Trustees are assted in their admmistrats've duties by a kgol ¢brk who is an asscKiate at tho firm of Freelh$. b. Methods of appolntment or •kctlon of Tru8t•es The management of the Chanty is the responsibilty of the Tru$lee5 %yho are elected and CO&opled under the temis of the Will. . PoliG1 adopted for the Inductlon and training ol Tru?teea The Tr*tee$ are intty respons10 for the induction of any n8W trustée. Th• induction includ•s awareness of the trustee's fesF)on$ibililies, consideration af the goveming document. administralNe prtxedure8, the history and philosophy of the charity. Page 3
THE ANNE BANKS WILL TRUST TRUSTEES. REPORT (CONTINUED FOR THE YEAR eMQED S APRIL 202J Stat•mont of Truste. responslblliti•s The Trustees re¥ponsibie for 9ParIng the Tru$tee$' port and the finarnclal slatement8 in accordance with applicable law arHJ United Kingd AKounting Standard5 Iunrted Kingd¢th Generaly A¢¢ekXed Accounting Pra¢li¢e). The law appIable to charities in England & Wales requires the Trustees to Prepa finan¢ial slatem8nls for 8a¢h financial which give a true and fair viw of th• stOt• of ¥ff4lr# Of th• Charity and of ils incoming resources and ¥I1¢allOn of resources, including income and exFenditure, lor that p8tiod. In preparing these fina11 slatem8nls, the Trustees are rw4uirod to.. 8elecl suitable accounting policies and then appty them ¢onsislenltr. rjbserve the melhods and principles of the Charities SORP IFRS 102)., make judgments and accounting esknmates that are reasonable and prudent. stale whether applicable UK Ac¢ounting Standard$ IFRS 1021 have bean folhjwed. subject to Y material departu dI10$8d and explained In tha financial statements.. pe the fInCIal 8lalemenls on the going concem basis unlgss l is inappropriato lo presume that the Charity will contsnue in business. Thg Trust98s are responsljle for keeng adequate accounling recLYds that are sufficient lo show and explain the Charivs Iran$a¢lw)n$ and O'$¢lo$¢ wlh reasonable &curacy al any knme the financial pOSrti of the Charity an¢J enable them to 8nsuré that the financial statements comply with the Charities Act 2011, the Charty (Accounts and Reports) Regulations 2008 and the provisions of the Will. They aré also responslble for safeguarding the assets of the Chty arml hence for t*ing reasonable steps for the prevention and deledton of fraud ond other irregubaritie8. AppToved by order of the membern of the brd of Trutste¢s ond tsigfted on they bghdf by.. Freoths Trustees Lliithod Date. IS Dl Page 4
THE ANNE BANKS WILL TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2023 Independent Examlnèrf8 R•port to Iho Tru$te•s ol The Anng Banks Wlll Trust I'thg CharyJ I report lo the chafty Tru$l¢es on my examinaion of the accounts of the Charity for Ihg year ended 5 April 2023. Rgsponslbllltlos and Basis of R•port As the Trustees of thé Charity you are responsible for the preparation of the acc¢wnls in aGcordance with the requirements of the Chariiies A¢t 2011 <'lhe 2011 Acri. I report in resp1 of my examinali¢)n of the Charitys accounts Gariied out under section 145 of the 2011 Act and In Carrying out my examination I hav• ioik)wed the apICable Oirections given by the Charty Commissh)n under soction 145151{bl of the 2011 Act. Indèpèndent Examinerfs Statamènt Your attention is drawn lo the fxl that the Charity has prepared the accounts in accordance wth Accounting and Reporting by Charities.. Statement of Recommended Pract aFPlble to ¢hariliès preparing their acrounts in accordan¢¢ with Financial Reporting Standard appliGablo in th¢ UK and RepubliG of Ireland IFRS 1021 in pre1ence lo the Ac¢ounliThJ and Reporting by Charities.. Statement ol Rec(mmended Practic wued on 1 Apnl 2005 which is referred to in Ihg extant regulatn$ bul has been wilhdrav+n. l understand Ihal this has been done in order for the accounts to provide a true and lair view in accordance wilh the Generally Accepted Aceounling Pradice effective for reporting periods beginning on or after 1 January 2015. I h8ve completed my examinati¢)n. l ¢fIrM that no matters have com& lo my attention wi connection wtth the examination giving me cause lo believe that in any material respect.. xcounting records were not kept in respect of the Charity os required by section 130 of the 2011 A¢1; or the accounls do not accord wryth Ihosg rerd the aGGQUllts do not GnplY wilh th¢ applicable re9Uil¢mellts Gonwning the fomi and content of a¢eounl$ 501 out in the Chariti88 IAccounts aNJ Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and faif view which is not a matter conswJ8red as part of an independeni examination. I have no ciMcems and have wme across no cther matters w) connection with the examination to which attention shouhy be dfwn in this report in order to enable a proper understanding of the accounts lo ba reach. This report is made Sole to Ihe ChaTiWs Trustees. as a body. in accordance vthh Part 4 of the Charities {Accounls and Reports) Regulations 2008. My work has been undertaken so that I might stsle lo tha Charitys Trustees those mattels l am required lo slate lo them in an Independent examiner's report and for no other purpose. To the fullest •xl•nt pèrniited by law. I do ncl accept OT assume responsibility lo anyone ther than the Charity and the Charity's Truslees as a body. for my worft or forthi$ Teport. sVJn.' Dated.. 26 July 2023 Darren O'connor BS¢ IHons) FCCA ACA (Senior Stalulory Auditor> James Cowper Krnston Chartered ACcJnIanlS Reading BI90 House George Street Reading RG18LS Page S
THE ANNE BANKS WILL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 6 APRIL 2023 R•strl¢ted Endgwmgnt fund8 Totsl lund8 Tolal lun(ts 2022 2023 2023 2023 Note Income •nd endovfft•nts from: Inveslmenls 75,364 75.364 6T. T60 Total Income and endowm•nts 75,364 76,384 67,760 Expendlturg on.. Investment management c¢)sts Charilabl8 activities 24.7Z4 24,724 88,628 21.731 137.589 88.828 Total oxpendllure 68.628 93,362 159,320 N¢t Inme11•xP8ndItuTol bofor• n•t 11058•sVgalns on Investments Nét Ilossesllgains on inveslmenls Net movemont In fund$ bOre othor ¢ognlsed galns 6.736 124,724) 1103.702) (17.9881 1103,7021 f91,560J 116,992 6.736 1128.426) {121.6901 2&432 OthoT rgcognlsqd gains: Gains on revaluation of investmenl property 30.900 30.9(X) Not movement In lund8 6.736 197,5261 {90.7901 25,432 Roconclllatlon of funds: Total fvnds brought fopward Net movement in funds 62,084 6.736 2,348,787 (97,5201 2,410,851 19Q,7901 2,385.419 2&4 Tolal lunds Garried forward 2,251,261 2,320,061 2,410.851 The Stalement of Fin¢181 Activit$ in¢ludo$ all gains losses recogrmsed in Ihe year. The notes on pages 8 to 15 fo part of these financial $tatem&nts. pe6
THE ANNE BANKS WILL TRUST BALANCE SHEET AS AT S APRIL 2023 2023 2022 Noto Flx•d ass•ts Inveslmenls Investment property 10 2.066.439 167.500 2.208. 710 136,600 2,252,939 2.345.310 Current a550ts Debtors Gesh at bK arKI In Ind 11 1S.855 61,704 14, 664 57,871 77.S59 72,535 Credttirs.. amounts fallng due wthin onè year 12 110,4371 (6,994) Net current assets 67,122 65,541 Total net assets 2.320,061 2,410.851 Charlty fund3 EndowTnent lunds Restricled funds 13 13 1251,251 68.800 2.348. 787 62,064 Total funds 2.320.061 2,410.851 The financial atat#ments w¢r¢ opproved and 8Lthri8ed for i3au• by Ih Tru¥lees and signed on their behaw by.. Froh$ Twstses Llmlted Oate.. I g 07. i The nots$ on pages 8 10 15 form part of Ih•s• financwl slalom•nl$. Page 7
THE ANNE BANKS WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 APRIL ZQ23 G•n•ral Infoffliatlon The Anne Banks Wiu TNst is a registfAed charity in England and Wales. Thè address of itÉ registered offK¢ 1$ 5700 Oxford Business P•k South. Oxford. OX4 2RW. Accountlng pollcles 11 8#ls of pr•par•tloft of ftnanclal 8l•t•m•nts The finanGial statements have been prepared accordance wlh the Chants"e$ SORP {FRS 1021- Accounting and Reporting by Chariti8s' Slalement of Recommendad Practice applicable lo charities preparing their account8 in accordance with the Financial R8POrting Stsndard ap[18)1e in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2019}, the Financial Rep)rtin9 Standard applicable in the UK and RepublK of Ireland IFRS 1021 and the Charities Act 2011. The financial stalernen15 have ten prepar¢d to givo a Irue and fair. ViE•V and have the Charities {Accounls and Reports) Regulations 2008 onty lo the extent required to yomde a Irue and fairf Mew. This departure has invofved follwng the Charthe$ SORP IFRS 1021 published In October 2019 rather than the Accounting and Reporting by Charities., Statement of Recommendèd Pract8 effectNe frem 1 April 2(105 which has since been wlhdrawn. The Anne Banks Wil Trust meets the definitson of a publ nefit enlty under FRS 102. Assets and liabilth'es are inilially recogni5ed at historiGal cost or transxln value unless othapwise Stated in the retevanl accounting policy. 2.2 In¢om• All ircffio is reco9nisad onco th• Charity has èntill•n8nt to Ihe inCne, it 18 probable that the income wsll be received and the amount of Inrte reeeivable can be measured rel. In¢(yne tax r¥overable in relali¢)n to inveslmert income is récognised at the lime the inveslménl income Is recelvable. 13 Exp•ndfturn Expenditure is ¥eco9nised once there 18 a legal or conslrudivg obligation to tiansfer economic benefrt lo a IhKd party, il is probable that a transfer of aconomic benefits will be requirgd in settlement and the amount of the obliqalion can be measured reliably. ExperKliture on raI5g fund5 includes all expenditure incurred by the Charity to raise funds lor its charilable purposes and indudo$ ¢osl$ of all fundraisNig activities events and non-charilable tradirwJ. Expenditure on charitable activit$ is incurred on diffjctty und•rting tho 8cliwti•s which further the Cnty$ o"eclives. as well as ony 0$s0¢ialed support costs. Grants payablè are charged in the year %then the offer ts made except in those cases where the offer 1$ ¢oNlitional, such grants Ing fecognised as OndItuT8 whén the conditions attaching are fuilled. Grants offered subject to ¢¢ndItn$ wlych have nc been met al Ihe year end are noted as a commrtment, but not BrUed as expenditure. All •xp•ndilur• is itKiu$ive d irfecoverabl• VAT. P4e8
THE ANNE BANKS WILL TRUST NOTES TO THE FINANCIAL STATEMENTS POR THE YeAR ENDED 6 APRIL 2023 AGcountlng pollcles Ic)ntlnued> 2.4 Inv•stments Fixed a$set investments are a fom of financial instrument and are initialty recognised at their transaction cost and subsequenlly me88ured 81 fair value at the Balance sheet date. unless the valua cannot ba measured re1k9b in which cas8 ft is measured at cost less impairment. Inveslmenl gains and 1055e5, whether realised or Lmrealised. are combined and presentsd as 'Gainsl(Lossesl on 1$trnents' in the Slatam¢nl ¢f financial acli¥rtie•. 2.6 Debtor• Trad8 and other debtors are recc8nised al tho $8tt18mont amount after any trade dIsrtt offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.8 Cash at baDk and In hand Cash al bank and tfi hand in¢lude¥ cash arKI shcrt4em highty IiquKI investrnenl8 w#h a short nk*urty of Ihree months or less from the dale of acquisiti'on or opening of the deposit or simiLqr &counl. 2.7 Llabllltl•s and provl$lons Liabilities are recognised when there is an obligation at the Bal sheet date as a Te5uI of a past ¢venl, il 1$ probable that a transfer ol ecOn1C benefit 11 be requlred Wi s•ttl•m•nl, and thé amount ol th? $0tt1omenl can ba éstimalad roliabty. Liabilities are reco9ni$ed at the amount that th• Charity anli¢ipates il wll pay lo Settlè the debt or Ihe amount it has received as advanced paymenls lor the goc>as or services il musl provde. 2.8 Fund accounllng The permanant endowm8nl fund is lo be rdain&J as capital and invested. The restricted inc(0 fund holds the income ari$ing from the pennanent erKl¢Jwmenl arKI is lo b8 used lor the lurtherance of the objed5 of the charty- Irw8stment income, gains and losses are allLKalfjd lo the appropriate lund. Investment Income R•strfcled nds 2023 Total fund$ 2023 Tot lunds 2022 Inve51mertt propety income Lisl8d invaslmènt income Bank interasl raceived 15,828 S9.112 424 16.828 59.112 424 15,555 75,364 75,364 57. 760 Tdal 2022 67.760 67. Tfil Page 9
THE ANNE BANKS WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Inv•stment m•naym4nt Costs Endowm•nt funds 2023 Total funds 2023 Tot81 2022 Inve8lmenl managemerf lee8 Legal and professional fees Property insurance 15,376 8,020 1,328 15,376 8,020 1.328 16. 133 4,543 1.055 24,724 24,724 21,731 Tol812022 21. 731 21, 731 ATralysls of gxpondttuT• by actfvltlos Grant fundlng of actlvltlgs 2023 Total lunds 2023 To181 funds 2022 costs 2023 Direct cosls 62,064 6,$64 68,628 137,589 Tot812022 131,893 5,696 137. 589 Anatysls of support costs Total fvnds 2023 Tot81 AGtiviti8s 2023 2022 A¢countan¢y faes Independent exaninalion fee Legal and prOfessnal fees 3.480 3,480 1,080 3,480 1, 136 6,664 5,696 Total 2022 5.696 5,696 Page 10
THE ANNE BANKS WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2023 Analys1$ of grnnts 2023 2022 Dogs Tfust The Royal Socigly for the Protection of Birds The Royal Socty for the Pfevantion of Cruelly to Animals Dogs TnJst The Royal Socty for t1 Proie¢tion of Bir(Is Th• Royal So¢ty for Preventi¢Jn of Cwdty to Aftimal$ 20.688 20,688 20.688 24,040 24,040 24.041 19,924 19,924 19,924 62.064 131,893 Indopondent gxamlnerfs remun•ratlon The independent examine¢s remunèration amounts to an independent examinof feo of £1,080 12022- £1,080) Truste99' remuneratlon and ?xp¢n90$ During the year, no Tru5kes received any remuneralion or other benefits (2022- £NILJ. Durin9 the year 8nd8d 5 Aprd 2023, rKJ Trustee expenses have been incurred 12022- £NIL), Invostment property Freehold Investmont property Valuatlon Al 6 April 2022 Surplu$ on revaluation 136,600 30.900 At 5 April 21y23 167,500 Thè investm1 propety Is shown at a valuatKJn obtained on 18 January 2023 frcffl profess)nal valuer5. Page 11
THE ANNE BANKS WILL TRUST NOTes TO Trfe FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2023 10. Flx•d ass•t Investm•nts Llstod Investments Cost or valuatlon At 6 Aprd 2022 AddOn$ Disposals Revaluations 2.208.710 S3,81S 171.7S11 1106.336) At 5 April 2023 2,085,439 Not book valu• At S Apth 2023 2.085.439 At 5 Apnl 2022 2208,710 The hiStOral c05t of the Iistèth in¥esknenls at 5 April 2023 was £1,674,26812022.' £1.692.204). 11. Dobtors 2023 2022 Due wlthln one y•Br other debtors 15.85$ 14,664 15.855 14,664 11 Credltws: Amount8 falllng due wlthln one year 2023 2022 Ac¢yual$ and deferred inccffie 10.437 6,994 Page 12
THE ANNE BANKS WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 13. Statement of fvnds Slatem•nt of funds- current y8ar Balan¢e at Aprll 2022 Galnsl Balance at 5 {Los8e8) Aprll 2023 Incomè Exp*nditure Endomnent lund$ PennanEnl endcvwwnonl Fund 2,348,787 24.724 172,8021 2,251,261 R•strlct•d funds R¢slrtted Income Fund 62,064 76,364 168.628} 6B.BOO Tvt41 of fund• 2.41Q.851 76,304 193,3821 172.8021 2.320.061 Sta¢omgnl of funds- prfor y•ar 8alance al 6 Apnl 2020 Gainsi Balance al (Losses) 5 Apnl 2022 InGome Exp8nditure Endowment funds Pemianenl Endowment Fund 2.253,526 (21, 731) 176,992 2.348, 787 Restricted funds Re¥l[ted Income Fund 131.893 67, 760 (137,589) 62,064 Total of fund$ 2,385,419 67, 760 (159,320) 116.992 2.410,857 Page 13
THE ANNE BANKS WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 14. Summary of funds Summary ollunds- ¢urrenl year BalanG• at 6 Aprfl 2022 GaIn Balanc• at 5 (Lossosl Aprfl 2023 Incomo Expendlture Endowment fvnds Restfthd fvnds 1348.787 62,064 124,7241 168.6281 (n.802) 2,251,261 68.800 75.364 2,410,8S1 76,364 193,3621 (72,8021 2.320ffi1 Summary of fund9- prlor yr BalanGe al l Apnl 2021 Gain Balance al (Losses) 5Apnl 2022 Income Expgnth"Iv End¢)wmenl funds Restricted funds 2.253,526 131.893 {21. T31) (137.589) 116.992 2,348, 787 62.064 67.760 2,38&419 67,760 (159.320J 116.992 2.410,851 Page 14
THE ANNE BANKS WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 15. Analysh of net assets belween funds Analy81s of net a88ets bètwgon lunds. curr•nt y•ar Restrfeted Endowment lunds funds 2023 2023 Total funds 2023 Fixed asset investments Inv851menl property Current assets Creditors due wrthin one year 1.678 2,083,761 167.500 108S,439 167.500 77.SS9 110.4371 77.S59 110,4371 Total 68.800 2.251,261 2,320.061 Analysls of net a$$¢ts bofwo•n lunds- prlor y•ar Restricted Endowmenl funds lunds 2022 2022 Tolal funds 2022 Fixed asset investmerbts Investment property Current assets Creditors due within one year (3,477) 2,212, 18T 136,600 2,208,710 136,600 T2,535 (6,994) T2,535 (6.994J Total 62,064 2,348, T87 2.410,851 16. Rolatqd party trnnsa¢tlon$ During the year legal fees of £9,522 were payaLle lo Freeths lor seice$ provided to the Gharty12022.' £5.6791. The service5 provkled were at commercial rates. Page 15