Docusign Envelope ID.. 8A28D17F-8ECA4415-A71 F-OF32389AF394 Company registration number". 0586J566 Chariiy registration number.. 1115582 Manchester Chamber Concerts Society (A covnpany limited by guarantee) Annual Report and Financial Statements for the Year Ended JO April 2024 Mike Ben50n Murray Smith LLP Darland House 44 Winnington Hill NOrth.1¢h Cheshire CW8 IAU
Docusign Envelope ID.. 8A28D17F-8ECA4415-A71 F-OF32389AF394 Manchester Chamber Concerts Society Contents Reference and Administrative Details Trustees, Report 2to4 Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8t0 15
Docusign Envelope ID.. 8A28D17F-8ECA4415-A71 F-OF32389AF394 Manchester Chamber Concerts Society Reference and Administrative Details Truslees Vivien Chasey Gordon Levy Wilfred Stokes (deceased 7 September 2023) Janis Stout Isabel Morris (appointed l J November 202J) Andrew Kyle (appointed l ) Novetnber 2023) Registered Otrice Suite 5, 4th Floor J Universal Square Devonshire Street North Manche5teT MI? 6JH The charity is incorporated in England and Wales. 0586i566 Company Registration Iyumber Charity Registration Number 1115582 Independent Examiner Mike Benson Murray Smith LLP Darland House 44 Winninoton Hill Nonhwich Cheshire CW8 IAU Page I
Docusign Envelope ID.. 8A28D17F-8ECA4415-A71 F-OF32389AF394 Manchester Chamber Concerts Society Trustees, Report The trustees, who are directors for the puryjoses of company law. present the annual report together with the financial statements of the charitable company for the year ended )0 April 2024. Objectives and activities Objec15 and aim5 The Charity's objects are to educate the public in the arts and sclences and in particular the art and science of music, by the presentation of concerts and other aclivities. This activity was taken over from its predecessor organisation, Manchester Chamber Concerts Society, which had flourished as an unincorporated association for 69 years. The policy adopted in furtherance of these objects is to present annually a series of concerts of chamber music at The Stoller Hall at Chetham's School of Music. in Manchester. at which ensembles of intemational repute perfonn. There has been no change in this policy during the year. The aims of ihe Charity are to ensure thai the objects are met with the highest possible standard of chamber music within the Society's funds and made available to a wide appreciative audience. Objeclives, 51ralegie5 and activitie5 The trustees and artistic director ensure that there are sufficiently high calibre concerts in the season and that the Society has sufficient funds to pay for a varied and interesting season which is accessible. The strategy for achieving the objectives is for the artislic direcior to plan and book the artists well ahead (at least one full year) and to advertise the season well in advance. The truslees have paid due regard to guidance issued by the Charity Commission in deciding what activilies the charity should undertake. There were eight chamber concerts scheduled for the 202J-2024 season. These concerts lake place at The Stoller Hall at Chetham's School of Music, in Manchester. Public benefit The trustees confirni that they have complied with the requirements of section 4 of the Charities Act 201 I to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Financial review Policy on reserves Part of the 5ucce55 of the Manchester Chatnber Concerts Society is that performers of the highest calibre are invited to its series of concerts at the Stoller Hall. However. the risk. as noted above, is that with a 2 year planning cycle, the Society needs to contract for these concerts in advance of selling ticket5. The Trustees therefore consider that the Society, s reserve5 should be maintained at a level to provide stability to preserve the quality of the concerts: taking into account this risk and a particularly difficult and uncertain economic climate for the arts, post Covid-19. The Society s serVeS of £61,9J5 are available to be drawn down when needed. Going concern The Charity has adequate reserves to see it through the next Couple of }iears. The trustees can report that the 2023-2024 Season took place at The Stoller Hall ai Chetham's School of Music. in Manchester. Page 2
Docusign Envelope ID.. 8A28D17F-8ECA4415-A71 F-OF32389AF394 Manchester Chamber Concerts Society Trustees, Report Principal risks Objeclives andpolicies The charity's activities expose it to a number of flnancial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity"s policies approved by the board of trustees, which provide IIllen principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments lor Speculative purpose5. The trustees have asse55ed the major risks to which the charity is expose& and are satisfied that systems are in place to mitigate exposure to the major risks. The priTJcipal risk to which the society 15 exposed arise5 from the need to contract for the concerts in advance of selling tickets for those concerts. This risk is managed by Setting a budget for the season's costs and ensuring that the Societ)- s reserves are at least equal to the costs of the season. In addition. the Society promotes the concerts by mailings. leaflets and advertising, including the maintenance of a website, Nvww.¢hamberconcerts.org . Supporters of the concerts also donate monies to the Society. These enable the Society to provide free and subsidised tickeis for students to enable them to experience live chamber music. Cashflow risk The charity's activities expose it primarily to the financial risks of Changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures. Interest bearing assets and liabilities are held at fixed rate to ensu certainty of cash flows. Credit risk The charity's principal financial assets are bank balances and cash. trade and other receivables. and investients. The charity's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impainnent is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial inslrnments is limited because the counterparties are banks with high credit-ratings assigned by inlemaiional credil-raling agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers. Liquidity risk In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-tenn and short-terni debt fmance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements. The trustees (who are also the directots of Manchester Chamber Concerts Society. for the purposes of company law) are responsible for preparing the trustees, report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. Company law requires the trustees to prepare financial 5tatetnents for each financial year. Under company law the trustees must not approve the financial staiements unless the}1 are satisfied that they give a true aTJd fair view of the state of affairs of ihe charitable compan), and of its incoming resources and application of resources, including its income and expenditure, for that peri(Kl. In preparing these financial staiements, the trustees are required to: select suitable accounting policie5 and apply them consistently- Page i
Docusign Envelope ID.. 8A28D17F-8ECA4415-A71 F-OF32389AF394 Manchester Chamber Concerts Society Trustees, Report Slatemenl of Trustees, Responsibilities observe the methods and principles in the 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 that the chariiable company will continue in business. The triistees are responsible for keeping adequate accounting records that are Sufficient to Show and explain the charitable company'5 transactions and disclose with reasonable accurac), at any tiine the financial position of the charitable company and enable them to ensure that the financial stateinents coinply with the Companies Act 2006. They are also responsible for safeguarding the a55ets ol the charitable company and hence for taking reasonable steps for the prevention and detection of frdud and other irregularities. The annual report was approved by the trustees of the charity on 28 January 2025 and signed on its behalf by: Docusillned 034GF076FWF..:............ Gordon Levy Trustee Page 4
Docusign Envelope ID.. 8A28D17F-8ECA4415-A71 F-OF32389AF394 Manchester Chamber Concerts Society Independent Examiner's Report to the trustees of Manchester Chamber Concerts Society I report on the accounts of the charity for the year ended )0 April 2024 which are set out on pages 6 to 15 Respective responsibilities of trustees and examiner The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit 15 not required for this year under section 144(2) of the Charities Act 2011 (the ?0 I l Act) and that an independent examination is needed. Having satisfied myself that the charity is not Subject to audit under company law and 15 eligible for independent examination. it is my responsibility to- examine the accounts under section 145 of the 201 l Act- to follow the procedures laid do1 in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Ad; and to state whether particular matter5 have come to my attention. Basis of independent examiner's report My examination Nvas carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes considerdtion of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees conceming 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" ( l ) which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with section 386 of the Companies Act 2006- and to prepare accounts 'hICh accord with the accounting records. comply with the accounting requirements of section J96 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice.. Accounting and Reporting by Charities 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. 74W45B30B444. Mike Benson Murray Smith LLP Darland House 44 Winnington Hill Northwich Cheshire CW8 IAU 28 January 2025 Page 5
Docusign Envelope ID.. 8A28D17F-8ECA4415-A71 F-OF32389AF394 Manchester Chamber Concerts Society Statement of Financial Activities for the Year Ended 30 April 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2024 Note Ineome and Endowments from: Donations and legacies Investment income 25,833 2.981 25,833 2,981 Total Income 28,814 28,814 Expenditure on: Charitable activities (52,757) (52,757) Total Expenditure (52,757) (52,757) Net expenditure (23,94J} (23,943) Net movement in funds (23,943) (23,943) Reconciliation of funds Total funds brought forward 85,878 85,878 Total funds carried forward 61,935 Total 2023 Unrestricted funds Note Income and Endowments from: Donations and legacies Investment income 21,528 1,682 21,528 1,682 Total Income 23,210 23,210 Expenditure on: Charitable activitie5 (56,831) (56,831) Total Expenditure (56,831) (56,831) Net expenditure (J3.621} (J3,621) Net movement in funds (J3.621} (J3,621) Reconeiliation of funds Total funds brought fon¥ard 119,499 119,499 Total funds carried forward 13 85,878 85,878 All of the charity's activi(ies derive from continuing operdtions during the above two periods. The funds breakdown for 2023 is Sho1 in note 13.
Docusign Envelope ID.. 8A28D17F-8ECA4415-A71 F-OF32389AF394 Manchester Chamber Concerts Society (Registration number: 05863566) Balance Sheet as at 30 April 2024 2024 2023 Note Fixed assels Tangible assets Current assets Cash at bank and in hand 63,265 86,149 Creditors: Amounts falling due wilhin one year 12 {1,331) (272) Net current assets 85,877 Net assets 85,878 Funds of the charity: Unrestricted income funds Unrestricted funds 61,935 85,878 Total funds 13 85,878 For the financial year ending JO April 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the charity to obthin an audit of its accounts for the year in question in accordance with Section 476- and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the Provisions applicable to companies subject to the small companie5 regime. The financial 5tatement5 on pages 6 to 15 were approved by the trustee5, and auth0ri5ed for 155ue on 28 January 2025 and signed on their behalf by: Docusillned ty.. Gordon LeY Trustee Page 7
Docusign Envelope ID.. 8A28D17F-8ECA4415-A71 F-OF32389AF394 Manchester Chamber Concerts Society Notes to the Finaneial Statements for the Year Ended 30 April 2024 I Charity status The charity is a charity limited b). guardntee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £ I toivards the assets of the charity in the event of liquidation. 2 Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparaiion of these financial slalements are set out below. These policies have been consistently applied to all the years presente<L unless othenvise stated. Slatemenl of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Praclice applicable lo charities preparing their accounts in accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015) - (Charilies SORP {FRS 10?)). the Financial Reporting Siandard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation Manchester Chamber Concerts Society meets the defjnition of a public benefit entity under FRS 102. Assets and liabilities are initiallv recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Going concern The trustees consider that there are no material UTJcertainties about the charity's ability to continue as a going concern nor any significant areas oluncertainty that affect the carying value of assets held by the charity. Exemption from preparing a eash flow statement The charity has taken advantage of the provisions in the SORP for charitie5 applying FRS 102 Update Bulletin I not to prepare a Statement of Cash Flow5. Income and endowments All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be MeaSud reliably. Donations and legacies Donations are recognised when the charity has been notified in writing of both the aTnount and settlement date. In the event that a donation is subject to condilions that require a level of perforn)ance by the charity before the charity is entitled to the funds: the income is deferred and not COgnised until either those conditions are fully met, or the fulfilmeni of those conditions is M'holly within the control of the charit), and it is probable that these conditions will be fulfilled in the reporting period.
Docusign Envelope ID.. 8A28D17F-8ECA4415-A71 F-OF32389AF394 Manchester Chamber Concerts Society Notes to the Finaneial Statements for the Year Ended 30 April 2024 Expendilure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregale similar costs to that calegory. Where costs cannot be directly attributed to particular headings they have been allocated on a basls consislent with the use of resources, with central staff costs allocated on the basis of time spenl. and deprecialion charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Charilable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activilies and those costs of an indirect nature necessary to support them. Governance costs These include the costs attributable to the charitv's compliance m-.ith constitutional and statutory requirements, including audit, strategic management and trustees, meetings and reimbursed expenses. Taxation The charity is considered to pass the frsts set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corpordtion tax purpose5. Accordingly, the charity is potentially exempt froTn taxation in respect ol income or capital gains received within categories covered by Chapter 3 Part I l of the Corporation Tax Act ?0 l O or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed a55ets costing £0.00 or tnore are initially recorded at C05L le55 any subsequent accumulated depreciation and subsequent accumulated impaimlent losses. Depreciation and aTllOrtisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follom's: Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and oiher short-tenm highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Page 9
Docusign Envelope ID.. 8A28D17F-8ECA4415-A71 F-OF32389AF394 Manchester Chamber Concerts Society Notes to the Finaneial Statements for the Year Ended 30 April 2024 Borrowings Interest-bearing borrowings are inilially recorded at fair value. net of transaction costs. Interest-bearing borrowings are subsequentl). carried at amortised cost. with the dlfference between the proceeds. net of transaction cosls. and the amoLmt due on redemption being recobmlsed as a charge to the Statement of Financial Activities over the period of the relevani borrO'1ng. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Fund structure Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity. Financial instruments Classification Financial assets and financial liabilities are re¢ognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instnllnents are classified according to the substance of the contractual arrangements entered into. An equity instrumenl is any contrdct that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Recognilion and measuremenl All financlal assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is nornially the transaclion price excluding trdnsaction costs). unless the arrangement constitutes a financing transaction. If an arrangemenl constitules a financing transaction. the financial asset or financial liability is measured at the present value of the fuiure pavments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable riJo t to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecodiised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settle(L b) the charity transfers to another party substantially all of the risks and rewards of owTrership of the financial asset: or c) the charity. despite having retained 50Tne, but not all, significant risks and rewards of ownership, ha5 transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract 15 discharged, cancelled or expires. Page 10
Docusign Envelope ID.. 8A28D17F-8ECA4415-A71 F-OF32389AF394 Manchester Chamber Concerts Society Notes to the Finaneial Statements for the Year Ended 30 April 2024 Debl instruments Debt instrumenis 'hICh meet the folloiying conditions are subsequently measured at amortised cost using the effective interest method: (a) The contractual retum to the holder is (i) a fixed amounl- {ii) a positive red rdte or a positive variable rate; or (iii) a combination of a positive or a negative fixed rdte and a positive variable rdte. (b) The contract may provide for repaymenls of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominate(( provided such links are not leverdged. (c) The contract may provide for a deterniinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than ( l) a change of a contractual variable rate- (2) to protect the holder against credit deterioration of the issuer- (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (li) the new rate is a market rate of interest and satisfies condition (a). (d) There is no contractual provision that could. by its tern15. result in the holder105ing the principal amount or any interest attributable to the current period or prior periods. (e) Contractual provisions that permit the issuer to prepay a debt instrument or pennit the holder to put it back to the issuer before maiurity are not contingent on fulure events. other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer. or lo protect the holder or issuer against Changes in levies applied by a ceniral bank or arising from changes in relevant taxation or law. (fj Contractual provisions may pennit the extension of the terni of the debt instrumenl. provided that the retum to the holder and any other contractual provisions applicable during the extended tem) satisfy the conditions of paragraphs (a) to (c). Debt instruments that are classified as payable or receivable M'ithin one year on initial recognition and which meet the above conditions are measured at the undiscounled amount of the cash or other consideration expected to be paid or received. net of impainnent. With the exception of some hedoing instruments. other debt instruments not meeting these conditions are measured at fair value through profit or loss. Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impainnent. Investments Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. IWl]ere fair value cannot be measured reliably, investments are measured at cost less impairnient. Investments in 5ub5idiarie5 and associates are measured at cost le55 impairnient. For investments in subsidiaries acquired for consideration including the i55ue of share5 qualifying for merger relief, c05t is measured by reference to the nominal value ol the shares i55ued plus fair value of other consideration. Any premium is ignored. Pagell
Docusign Envelope ID.. 8A28D17F-8ECA4415-A71 F-OF32389AF394 Manchester Chamber Concerts Society Notes to the Finaneial Statements for the Year Ended 30 April 2024 Derivalivefinancial in51ruments The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes. Derivatives are initially recognlsed at fair value at the date a derivative conlract is entered into and are subsequently remeasured to their fair value at each reporting dale. The resulting gain or loss is recognised in statement of financial activiiies immedialely unless ihe derivative is designaled and effective as a hedging instrument, in which event the liming of the recognition in statement of financial activities depends on the nature of the hedge relationship. Fair value measuremenl The best evidence of fair value is a quoted price for an idenlical asset in an active market. When quoted prices are unavailable. the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value. the fair value is estimated by using a valuation technique. 3 Income from donations and legacies Unrestricted funds Total 2024 Total 2023 General Donations and legacies. Donations from individuals 21,528 21,528 4 Income from charitable activities Total 2024 5 Inveslment income Unrestricted funds Total 2024 Total 2023 General Interest receivable and similar income; Interest receivable on bank deposits 2,981 2,981 1,682 Page 12
Docusign Envelope ID.. 8A28D17F-8ECA4415-A71 F-OF32389AF394 Manchester Chamber Concerts Society Notes to the Finaneial Statements for the Year Ended 30 April 2024 6 Expenditure on charitable activities ActiTr itv undertaken directly Tot21 2024 Total 2023 Sales commission Perfonning rights society fees Artists, fees Hall and piano hire Printing, advertising, promotion and website Insurance Consultancy Subscriptions 1.550 .679 33.000 12,792 1.550 1.679 1,292 1,050 35,420 12,828 1,547 46 4,400 200 12,792 79 2.100 298 79 2,100 298 52,691 £52,757 (202) - £56,8J l) of ihe above expenditure was attributable to unrestricted fimds and £Nil (202) - £Nil) to restricted funds. In addition to the expenditure analysed above. there are also governance costs of £66 (202J directly to charitable activities. See note 7 for fillther details. £48) which relate 7 Analysis of governance and sUPPOrt Costs Governance costs Unrestricted funds Tot21 2024 Total 2023 General Legal fees 66 66 48 66 66 48 8 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. Page li
Docusign Envelope ID.. 8A28D17F-8ECA4415-A71 F-OF32389AF394 Manchester Chamber Concerts Society Notes to the Finaneial Statements for the Year Ended 30 April 2024 9 Staff costs The monthly average number of persons (including senior management team) employed by the charity during the year was as follow5.. 2024 2023 Average number of employees No employee received emoluments of more than £60,000 during the year. 10 Taxalion The charily is a registered charity and is therefore exempt from taxation. I l Tangible fixed assets Furnilure and equipment Total Cost At l May 2023 574 574 At 30 April 2024 574 574 Deprecialion At l May 202J At JO April 2024 573 573 Net book value At 30 April 2024 At 30 April 202) 12 Creditors: amounts falling due wilhin one year 2024 2023 Other creditor5 Accruals 1,318 13 259 272 Page 14
Docusign Envelope ID.. 8A28D17F-8ECA4415-A71 F-OF32389AF394 Manchester Chamber Concerts Society Notes to the Finaneial Statements for the Year Ended 30 April 2024 13 Funds Balance at I Mav 2023 Incoming resourees Resources expended Balance at 30 April 2024 Unrestricted funds General (85,878) (28,814) 52,757 (61,935) Balanee at I May 2022 Incoming resourees Resources expended Balance at 30 April 2023 Unrestricted funds General (119.499) (2i,210) (85,878) 14 Analysis of net assets between funds Unrestricted fund5 General Total funds Tangible flxed assets Current assets Current liabilities 63,265 (1,3J2) Total net assets 61,934 15 Analysis of net fund5 Ai l May 2023 Cash flow At 30 April 2024 Cash at bank and in hand 86,149 (22,884) 63,265 Net debt 86,149 (22,884) 63,265 Page15