DocuSign Envelope ID: 0F444F87-5B67-4AE1-8138-743930165455
Charity registration number 1117563
Company registration number 05938575 (England and Wales)
MODERN ART PRESS
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
DocuSign Envelope ID: 0F444F87-5B67-4AE1-8138-743930165455
MODERN ART PRESS
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | J Nicoll | |
|---|---|---|
| B Allen | ||
| R Mason | ||
| T Knox | (Appointed 7 June 2022) | |
| T Sanderson | (Appointed 7 June 2022) | |
| Charity number | 1117563 | |
| Company number | 05938575 | |
| Registered office | 37 Bury Street | |
| London | ||
| SW1Y 6AU | ||
| Independent examiner and accountant | Cottons Accountants LLP | |
| 231 Shoreditch High Street | ||
| Lower Ground Floor | ||
| London | ||
| UK | ||
| E1 6PJ | ||
| Bankers | Barclays Bank Plc | |
| 10 Market Street | ||
| Bradford | ||
| West Yorkshire | ||
| BD1 1EG | ||
| Solicitors | Charles Russell Speechlys LLP | |
| 5 Fleet Place | ||
| London | ||
| EC4M 7RD |
DocuSign Envelope ID: 0F444F87-5B67-4AE1-8138-743930165455
MODERN ART PRESS
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 3 |
| Statement of trustees responsibilities | 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 14 |
DocuSign Envelope ID: 0F444F87-5B67-4AE1-8138-743930165455
MODERN ART PRESS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2022
The Trustees presents its annual report and financial statements for the year ended 30 September 2022.
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 the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: 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)" (effective 1 January 2019).
Principal objectives and activities
The principal activity of the charity continues to be the advancement of education by commissioning and publishing 'Catalogue Raisonnes' of modern artists, not yet adequately covered by published material. It is envisaged that the cost of commissioning writers and publishing costs will be covered by grants received and, in due course, revenues from the publication of the catalogue.
Whilst the charity's principal focus remains on catalogues raisonnes, it also extends the remit to educational books about art and its history more generally.
The Trustees confirm when reviewing the Trustees' report, aims, objectives and activities that they have compiled with the duty in Section 17 of the 2011 Charities Act to have due regard to guidance published by the Charity Commission including public benefit.
Achievements and performance
The benefits of the charity are the promotion of artistic appreciation and the furtherance of education about art.
The charity continues to receive the donated services (by secondment) of an individual who acts as Chief Executive and is responsible for the day to day running of the business. In addition, the individual's role is extended ' to include assisting and overseeing the charity s publications.
The charity published four books in 2022:
Toby Treves, Lucian Freud: Catalogue Raisonné of the Prints
Christopher Lloyd, Matisse and the Joy of Drawing
Simon Sebag Montefiore (ed.), Seven Portraits: Surviving the Holocaust
Jon Whiteley, French Nineteenth-Century Paintings in the Ashmolean Museum
Financial review
It is the policy of the the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to at least one year's expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
- 1 -
DocuSign Envelope ID: 0F444F87-5B67-4AE1-8138-743930165455
MODERN ART PRESS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022
Plans for future periods
n 2023 the charity will publish:
Catherine Lampert & Toby Treves, Lucian Freud: Catalogue Raisonné of the Oil Paintings
Other publications in production are:
Jonathan Marsden, Sculpture in the Royal Collection (working title)
Alan Bowness, Sophie Bowness, Jenna Lundin Aral, Barbara Hepworth: Catalogue Raisonné of the Paintings, Drawings and Prints
Sophie Bowness, Barbara Hepworth Catalogue Raisonné of the Sculptures
Judy Collins, Eduardo Paolozzi: Catalogue Raisonné of the Metal Sculptures
Daniel Herrmann, Eduardo Paolozzi: Catalogue Raisonné of the Prints
Marla Price, Howard Hodgkin: Catalogue Raisonné of the Paintings
Guy Robertson, Howard Hodgkin: Catalogue Raisonné of the Prints
Rachel Smith, Ben Nicholson: Catalogue Raisonné of the Oil Paintings
The direct costs of these books are funded by various individuals and foundations.
Structure, governance and management
Modern Art Press is a company limited by guarantee and a registered charity governed by its memorandum and articles of association. The charity was registered on the 12th January, 2007 under the number 1117563 and was incorporated on the 18th September, 2006 under the number 05938575.
The members of the Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
J Nicoll
B Allen R Mason T Knox (Appointed 7 June 2022) T Sanderson (Appointed 7 June 2022)
The charity structure is that is a board of non-executives (at least 3) who are also members of the company and charity Trustees. The Trustees are governed by the company's memorandum and articles of association. The board has powers to appoint an advisory panel if necessary. Terms of office are not to exceed 5 years, but Trustees can be reappointed for a further term not to exceed 3 years.
- 2 -
DocuSign Envelope ID: 0F444F87-5B67-4AE1-8138-743930165455
MODERN ART PRESS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022
Risk Policy
The Trustees are responsible for the management of the risks faced by the charity. Risks are identified and assessed and controls are established throughout the year. A formal review of the charity's risk management process is undertaken on an annual basis.
The key controls used by the charity include formal agendas and minutes for all Trustee meetings, comprehensive planning, budgeting and accounting and clear authorisation and approval levels of all grants and other expenditure. Controls over operation of the charity's bank account are considered to be adequately managed.
Through the risk management processes established, the Trustees are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed. The major risks to which the charity is exposed as identified by the Trustees have been reviewed and systems have been established to mitigate those risks.
The trustees report was approved by the Trustees.
R Mason Trustee
11 January 2023
- 3 -
DocuSign Envelope ID: 0F444F87-5B67-4AE1-8138-743930165455
MODERN ART PRESS
STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022
The Trustees, who are also the directors of Modern Art Press for the purpose of company law, is responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law 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 the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the Trustees is required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the the charity will continue in operation.
The Trustees is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the the charity and enable it to ensure that the financial statements comply with the Companies Act 2006. It is also responsible for safeguarding the assets of the the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
- 4 -
DocuSign Envelope ID: 0F444F87-5B67-4AE1-8138-743930165455
MODERN ART PRESS
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MODERN ART PRESS
I report to the Trustees on my examination of the financial statements of Modern Art Press (the the charity) for the year ended 30 September 2022.
Responsibilities and basis of report
As the Trustees of the the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.
I have completed my examination. I confirm that no 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 the charity as required by section 386 of the 2006 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for 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).
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 financial statements to be reached.
Cottons Accountants LLP
231 Shoreditch High Street Lower Ground Floor London E1 6PJ UK
Dated: 11 January 2023
- 5 -
DocuSign Envelope ID: 0F444F87-5B67-4AE1-8138-743930165455
MODERN ART PRESS
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2022
| Unrestricted Restricted funds funds 2022 2022 Notes £ £ Income from: Voluntary income 3 188,170 - Charitable activities Incoming resources from charitable activities 4 133,642 434,639 Investments 5 283 - Total income 322,095 434,639 Expenditure on: 6 Direct charitable expenditure 7 296,354 350,104 Governance costs 10 5,158 - Total expenditure 301,512 350,104 Net income for the year/ Net movement in funds 20,583 84,535 Fund balances at 1 October 2021 56,804 526,025 Fund balances at 30 September 2022 77,387 610,560 |
Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 188,170 193,019 - 568,281 52,772 238,145 283 52 - 756,734 245,843 238,145 646,458 243,752 155,742 5,158 7,340 - 651,616 251,092 155,742 105,118 (5,249) 82,403 582,829 62,053 443,622 687,947 56,804 526,025 |
Total 2021 £ 193,019 290,917 52 |
|---|---|---|
| 483,988 | ||
| 399,494 | ||
| 7,340 | ||
| 406,834 | ||
| 77,154 505,675 |
||
| 582,829 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 6 -
DocuSign Envelope ID: 0F444F87-5B67-4AE1-8138-743930165455
MODERN ART PRESS
SUMMARY INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2022
| All income funds 2022 £ Gross income 756,734 Total expenditure from income funds 651,616 Net income for the year 105,118 |
2021 £ 483,988 406,834 |
|---|---|
| 77,154 |
- 7 -
DocuSign Envelope ID: 0F444F87-5B67-4AE1-8138-743930165455
MODERN ART PRESS
BALANCE SHEET
AS AT 30 SEPTEMBER 2022
| Notes Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Income funds Restricted funds Unrestricted funds |
2022 £ 1,116 718,239 719,355 (31,408) |
£ 687,947 610,560 77,387 687,947 |
2021 £ 4,377 589,638 594,015 (11,186) |
£ 582,829 |
|---|---|---|---|---|
| 526,025 56,804 |
||||
| 582,829 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2022.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 11 January 2023
R Mason Trustee
Company registration number 05938575
- 8 -
DocuSign Envelope ID: 0F444F87-5B67-4AE1-8138-743930165455
MODERN ART PRESS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
1 Accounting policies
Charity information
Modern Art Press is a private company limited by guarantee incorporated in England and Wales. The registered office is 37 Bury Street, London, SW1Y 6AU.
1.1 Accounting convention
The financial statements have been prepared in accordance with the the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: 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)" (effective 1 January 2019). The the charity is a Public Benefit Entity as defined by FRS 102.
The the charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees has a reasonable expectation that the the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the the charity.
1.4 Income
Income is recognised when the the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 9 -
DocuSign Envelope ID: 0F444F87-5B67-4AE1-8138-743930165455
MODERN ART PRESS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
The the charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the the charity's balance sheet when the the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the the charity’s contractual obligations expire or are discharged or cancelled.
- 10 -
DocuSign Envelope ID: 0F444F87-5B67-4AE1-8138-743930165455
MODERN ART PRESS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022
1 Accounting policies
(Continued)
1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the the charity’s accounting policies, the Trustees is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Funded expenditure | 26,258 | 31,107 |
| Donated services | 161,912 | 161,912 |
| Charitable activities | ||
| 2022 | 2021 | |
| £ | £ | |
| Book (catalogue) sales and royalties | 133,642 | 52,772 |
| Grants and fees | 434,639 | 238,145 |
| 568,281 | 290,917 | |
| Analysis by fund | ||
| Unrestricted funds | 133,642 | 52,772 |
| Restricted funds | 434,639 | 238,145 |
| 568,281 | 290,917 |
4 Charitable activities
- 11 -
DocuSign Envelope ID: 0F444F87-5B67-4AE1-8138-743930165455
MODERN ART PRESS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022
5 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Interest receivable | 283 | 52 |
6 Donated services
As detailed in note 3 above the charity has a secondment arrangement in place with a corporate supporter. The donated service (measured at £161,912, 2021 - £161,912) is included in incoming resources as voluntary income and resources expended as direct charitable expenditure.
In addition certain costs have been funded (measured at £26,256, 2021- £31,107) by a corporate supporter and these have been included in incoming resources as voluntary income and resources expended as direct charitable expenditure.
7 Charitable activities
| Salaries, national insurance and pension contributions Book production costs Rent and other office expenses Analysis by fund Unrestricted funds Restricted funds |
2022 £ 180,648 463,689 2,121 646,458 646,458 296,354 350,104 646,458 |
2021 £ 189,535 207,204 2,755 |
|---|---|---|
| 399,494 | ||
| 399,494 | ||
| 243,752 155,742 |
||
| 399,494 |
8 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the the charity during the year.
- 12 -
DocuSign Envelope ID: 0F444F87-5B67-4AE1-8138-743930165455
MODERN ART PRESS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022
9 Employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries |
2022 Number 8 2022 £ 180,648 |
2021 Number 8 |
|---|---|---|
| 2021 £ 189,535 |
The Executive staff of the company have been seconded from a corporate supporter being a UK company based in London. The following secondment arrangements are in place:
- Hours per week: minimum of 7
• Charity will refund all relevant expenses incurred by the secondee in connection with pursuing the charity's objectives.
- The corporate supporter is responsible for remunerating the individual through its own payroll. The charity also employed one member of staff during the year at a cost of £18,736 (2021- £27,623).
One member of staff of the corporate supporter seconded to the charity received a salary in the band £90,000 - £100,000 p.a.
None of the Trustees received any remuneration in respect of their services during the year (2021 -- nil)
The number of employees whose annual remuneration was more than £60,000 is as follows:
| 2022 | 2021 | ||
|---|---|---|---|
| Number | Number | ||
| £90,000 | to £100,000 | 1 | 1 |
10 Governance costs
| 2022 | 2021 | |
|---|---|---|
| Accountancy | 4,560 | 4,560 |
| Legal fees | - | 2,500 |
| Bank charges | 598 | 280 |
| 5,158 | 7,340 |
- 13 -
DocuSign Envelope ID: 0F444F87-5B67-4AE1-8138-743930165455
MODERN ART PRESS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022
11 Value of charity's catalogue
The charity continues to adopt a policy of writing off costs directly attributable to the work undertaken on the preparation of the catalogue each year and thus no recognition has been taken in the financial statements for the value of any stock of unsold books held by the charity at the end of its financial year. The Trustees consider this treatment to be consistent with past accounting practice and avoids any element of understating directly attributable costs. The Trustees estimate that the amount that would otherwise be receivable from commercial distributors in respect of such stock would be £330,813 (2021- £288,529).
12 Debtors
| Amounts falling due within one year: Other debtors 13 Creditors: amounts falling due within one year Other creditors 14 Analysis of net assets between funds Unrestricted funds Restricted funds 2022 2022 £ £ Fund balances at 30 September 2022 are represented by: Current assets/(liabilities) 77,387 610,560 77,387 610,560 |
Total Unrestricted funds 2022 2021 £ £ 687,947 56,804 687,947 56,804 |
2022 £ 1,116 2022 £ 31,408 Restricted funds 2021 £ 526,025 526,025 |
2021 £ 4,377 |
|---|---|---|---|
| 2021 £ 11,186 |
|||
| Total 2021 £ 582,829 |
|||
| 582,829 |
15 Related party transactions
There were no disclosable related party transactions during the year (2021 - none).
- 14 -