REGISTERED COMPANY NUMBER: 06065754 (England and Wales) REGISTERED CHARITY NUMBER: 1118357 ort of the Trusts8s and Unaudited Financlal Statements For The Year Ended 31 Au ust 2024 for Mar aret Mcmillan Llmlted TC Bromhead Limited arscombe House 1 Darklake View Plymouth Devon PL6 7TL
Mar aret Mcmlllan Limited Contents of the Financlal Statements For The Year Ended 31 Au ust 2024 Page Report of th8 Trustees Independent Exarninels Report Statement of Firtanclal Activities Balance Sheet Cash Flow Statem&nt Not8S to the Cash Flow Statement Notes to the Financlal Statsments 10 to 18 Datailad Ststement of Flnanclal Activlties 17 to 18
aret Mcmillan Llmlted Istered number: 06065754 ort of the Trustees For The Year Ended 31 Au ust 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, pr8S8nt their report with the financial ststements of the charity for the year ended 31 August 2024. The truste8s have adopted the provisions of Accounting and Reporting by Charities.. Staterllent of Recommended Practice applicable lo 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). 0ECTIVEs AND ACTIVITIES Objectives and aims Our charitable objects are "the provision of nursery education for children under the age of six years whose parent or parents or guardian or guardians are resident in or thos8 place of work is in the bounds of the city of Plyrnoulh together with the provision of recreational facilities for such children together with any other charitable purposes which the executive committee deems to be for the benefit of such children.. In this reporting year we have continued to operate the Margaret Mcmillan Nursery providing nursery educatlon for children from birth to entry into primary sthool. The Nursery is divided into Baby, Toddler and Pre-school units. Our mission is to enhance the lives of children and their fatnilies by providing a safe place of excellence and Innovation, where Ghildren can develop. communicale confidently, build resiliencK, become independent and are courteous to all. We provide places for up to 124 children per day. The exact number is limited by staffing ratios for particular age groups, the capacity of the building and thé requirements of those children with Special Educational Needs The number of children on role is also influenced by the needs of parents for full or part-time places. The Nursery partlclpates In the Government's free childcar8 sch8me, enabling access for all. It is expected that the nursery will continue to provid8 pr8-school education for the foreseeable fvture. Education continues to @volve, and the Nurs8ry will continue to respond to these changes, through the active search for and implementation of best pra¢lice or driven by government policy as articulated through legislation and OFSTED. Our activities therefore directly further our objertive. The Twstees have referred to the guidance contslned In the Charlty Commlssion general guidance on public benefit. Publlc benoflt The trustees have had regard to the Charity Commi35ionefs guidance on publSG benefit.. We provlde nursery care for children whose parents live or work in the Cily of Plymouth. Our locatlon Sn th6 city Centre enables parents to return to work in the knowledge that thelr chlldren are belng cared for In a secure, caring and stimulating environment. design8d lo encourage young children from birth to five years to grow in confidence 8nd independence 2nd develop their creativity and individual personalities. Th8 nurs8ry delivers early education benefits for children through high quality provision and early intervention (where required} that provides a strong start to their statutory schooling and improving their success for the future. The trustees have compli8d with the duty in sedian 17(51 of the 2011 Charities Act to have due regard to guidance ISSU8d by the Charity Commission. ACHIEVEMENT AND PERFORMANCE Charitable actlvltles The nursery has continued to opeiate near full capacity throughout the reporting périod. The success of the nursery continues lo be monitored by reference to Ofst8d inspections and ratings and has been maintained at a good level and we contlnue to enjoy positive feedback from parents and from th8 primary schools that our children move on to. The continued commitment and hgrd work of the staff and trustees has enabled th8 charity to continue to build sufficient reserves to assist in maintaining the financial security of the nursery. The purchasing of the freehold of 24 Hoe Street continues to be a long-term aim of the trustees along with the purchase of Ihe land opposite the nursery, currently rented and used for parking spaces. Other than our Trustees there is no significant volunteer element to our activities. Internal and external factors Difficulties in the recruitment and retenlion of staff with relevant experien and qualifications continues to impact nursery provision. However, success in recruiling primary-qualified teachers has enhanced th8 pr8-school offering. However, management slaff are often diverted to nursery duties to maintain safe stafflchild ratios, with the resulting impact on their primary roles. The unexpected and significant increase in minimum wage has had an impacl on the nursery's budget and this coupled with the Gost-of-living crisis, rising energy prices and food cosls, has had a noticeable financial impact. Page 1
Mar aret Mcmillan Limited Re istered number: 06065754 Re ort of the Trustees F r Thè Year Ended 31 Au ust 2024 FINANCIAL REVIEW Flnancial position The Twst's financial position al the end of the year is considered to be satisfactory In addition thè financial performance of the nursery is monitored and discussed at eath trustee meeting with satisfactory results for the year. The net operating 8urplus for th8 year amounted lo £32,253 (2023.. net operating surplus £30,52n. The unrestricted fund held al the year ended 31 August 2024 was £504,666 {2023.'£472,413). Expenditure for the year has beèn made to support the charity's cbjectives of providing quality nursery education and childcare. Principal funding source8 The charitys income is primarily received from parents for the provision of nursery places. The charity also receives grant income from the local aLrthority. Inveslment Policy The management committee has considered the most appropriate policy for investing funds 8nd has found that investing surplus funds in a deposit account meets Iheir requir8ments. The management committ8e consider the return thal they receive on Iheir investments to be salisfaGtory. The charity also holds £4,000 {2023: £4,000) invested in National Savings Certificates. Total investment income from all sources was £4.975 for the year (2023.. £3,074) Reserve8 poIIcy The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible red ass8ts {'the free reserves,) held by the charity should be three months of the resources expended. At this lével, the management committee feel that they would be able to continue the current activities of the charity in the event of a significant loss of income. It would obviously be necessary to consider how the income would be replaced or activities changed. Th8 free reseNes at 31 August 2024 total £447,181. This balance Is above our re8erve8 pclicy however the long 18rm goal ofthe Charity is to purchase th8 property we operate from. The charity prepares budgets 8ach year which are regularly reviewed by the trustees against actual perfomiance. Variances from budget are reported to the trustees for consideration. All capilal 8xpenditure outside of the normal budget is approved in advance by trustees. FUTURE PLANS The Charity will continu8 lo maintain the good reputation that it has wlthln the City of Plymouth and to Gontinue to provide first-class nursery care for children of pre-school age. The charity currenlly occupies the property known as 24 Hoe Street under a 99-year lease expiring on 29 Aprll 2101. Our long-temi aim is to acquire the freehold of the property lo improve security of tenure. The nursery plans to undertake further inlemal refurbishment of our building and has investigated potential options to change the current building to expand the scale and range of provision. This would be a significanl capital expenditure. The imp8nding increase lo Governmenl-funded 'Yree chSldcare" without sufficient Government funding, further substantial incr8as8S to the Living wage and increase to Employers, National Insurance Conlribution5 will provid8 a further financial challenge. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Charity is constituted under a trLJSt deed dated 23 Octob8r 1995. The charitable company is governed by its Memorandum and Articles of Association from its incorporation on 24 January 2007, and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006, Recruitment and appointment of new trustees The members carry out the election of the officers and cotnmitlee members at the Annual General Meeting. Nominations are made in writing and delivered to the Chairperson. Each nomination must be proposed and seconded by a voting member of the Charity and accompanied by the written consent of the nominee. New trustees are inducted into the workings of the charity during meetings held on a quarterly basis, supported by a comprehensive Tiuslee's handbook that details all aspects of the Nursery and th6 Trustees, respon8ibilities and roles. Trustees are recruited through advertisement, direct approaches to relevant organisations and through networking. Page 2
aret Mcmillan Limited Re Istorad number: 06065754 Re ort of the Trustees For The Y8ar Ended 31 Au ust 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT Organisational structure Full responsibility for the running of the Charity Is vested in the Trustees. who by reason of inwrporation of the Charity are also Directors of the Company. The company is limited by guarantee and does not hold any share capital. The Memorandum of Association precludes the TNJsteesl Directors reIVing any remuneration or benefits. Mrs Toni Hambly is responsible for the day to day running of the Charity. The charity continues to maintain its good relationship with the landlord, the Plymouth Astor Trust which is also a Charity. Key management remuneration The Trustees meet annually to discuss and set the levels of remuneration for key members of staff, REFERENCE AND ADMINISTRATIVE DETAILS Reglstarad Company numbor 06065754 (England and Wales) Reglstered Charlty number 1118357 Reglstered offlce Harscombe House 1 Darklake View Plymouth Devon PL6 7TL Principal address 24 Hoe Street Plymouth D8von PL12JA Trustees J Achilles Chairman J Cook Treasurer P Strang A Henry (resigned 21.3.24) W Wood (resigned 8.12.23) J Prichard A Rees C L Layland, MBE G Stelmaszczyk Y Baker (appointed 2.10.24) Company Secretary A Rees Indepand8nt Examlner James Groves TC Bromhead Limited Harscombe House 1 Darklake View Plymouth Devon PL6 7TL Solicitors Wolferstans Deptford Chambers 60166 North Hill Plymouth PL4 8EP Page 3
aret Mcmlllan Limited Re Istorod number: 06065754 ort of the Trustees ForTho Year Ended 31 Au ust 2024 REFERENCE AND ADMINISTRATIVE DETAILS Bankers Naest PIC 14 Old Town Street Plymouth PL1 1DG TRADING NAME The charity operales under the name Margaret Mcmillan Nursary. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. 26-1-25 Approved by order of the board oftrustees on ..................... and signed on ils behalf by.. J Achilles - Trustee Page 4
Inde endent Examlner's Re ort to the Tru8teeg of aret Mcmillan Llmlted istered number: 06065754 Independent examiner's report to the trustees of Margaret Mcmillan Limited ('th8 Company.) I report to the charity trustees on my examination of the accounts of the Company for th8 year ended 31 August 2024. R8spon8lbllitie8 and basis of roport As th8 charity's tnjsteès of Ihe Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of Ihe Compani8s Act 2006 ('the 200e Act,). Having satisfied myself that the accounts of Ihe Company ar8 not required to be audited und8r Part 16 of the 2006 AGt and are eligible for independent examination, I r8POrt in respect of my examination of your charitys accounts as carried out under Section 145 of the Charities Act 2011 {'the 2011 Act'l. In carrying out my examination I have followed the Direclions given by the Charity Commission under S8Ction 145(5) (bl of the 2011 Act. Indepandent examinerfs statement Since your charity's gross income exceeded £250,000 your examiner must be a m8mb8r of a listed body. I can nfIrM that l am qualified to undertake the examination because l am a member of the InstitLrte of Chartered Accountants in England and Wales, which is one ofthe listed bodies. I have completed my examination. I confirm that no m8tter8 have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as réquired by Section 386 of the 2006 Act; or the accounts do not accord with those records,. or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requiremenl that th8 accounls give a true and fair view which is not a Matter considered as part of an indep&ndent 8xamination' or the accounts have not b8en prepared in accordance with the methods and prin¢ipie8 of the Statement of Recommended Practic8 for arxounling and reporting by charities (applicable lo charities preparing iheir a¢¢ounts in accordance with the Flnanclal R8porting Standard applicabl8 in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other mattèrs in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the awounts to be reached. James Groves The Institute of Chartered Accountants in England and Wales TC Bromhe8d Limited Harscomb8 House 1 Darklake Vi8W Plymouth Devon PL6 Page 5
Mar aret Mcmillan Llmitsd Statement of Financlal Activities oratin an Income and Ex nditure Account For The Year Ended 31 Au ust 2024 Incor 31.8.24 Unrestricted funds 31.8.23 Total funds Notes INCOME AND ENDOWMENTS FROM Charitable activitles Nursery provision 752,102 705,714 Investment income 4,975 3,074 Total 757,077 708,788 EXPENDITURE ON Charitab18 activities Nursery provision 724.824 678,261 NET INCOME 32,253 30,527 RECONCILIATION OF FUNDS Tolal funds brought forniard 472,413 441,888 TOTAL FUNDS CARRIED FORWARD 504,666 472,413 The notes form part of these financial statements Page 8
Mar aret Mcmillan Llmlted istered number: 06065754 Balance Sheet 31Au ust 2024 31.8.24 Unrestrlcted funds 31.8.23 Total nds Not8S FIXED ASSETS Tangible assets Investments 10 57.505 4,000 53,765 4,000 61,505 57,765 CURRENT ASSETS Debtors Cash at bank 12 14,295 467,210 5,330 465.280 481,505 470.610 CREDITORS Amounts falling due within one year 13 138,344) <55,962) NET CURRENT ASSETS 443,161 414,648 TOTAL ASSETS LESS CURRENT LIABILITIES 504,666 472,413 NET ASSETS 504,666 472,413 FUNDS Unrestricted funds 15 504,666 472,413 TOTAL FUNDS 504,666 472,413 The Charitable company Is entitled to exemption from audit und6r Section 477 of the Companies Act 2008 for the year ended 31 August 2024. The members have not required the company to obtain an audit of its financial st8tem8nts for the year ended 31 August 2024 in accordan with Section 476 of the Companies Act 2006. Th8 trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accountlng records that wmply with Sections 386 and 387 of the Companies Ad 2006 and preparing financial statements which give a true and fair view of th8 State of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with th8 requirements of Sections 394 and 395 and which otheis8 comply with the requirement5 Of the Companies Act 2006 rèlating to financial statements, so far as applicable to the charitable company. (b) These financial statements have been prepared in accordance with the provisions applicable to charilable companies subject to the small companie5 regime. The financial sta ements were approved by the Board of Trustees and authorised for issue and were signed on its behalf by.. on J Achilles - Trustee The notes form part Df these financial statements Page 7
Ma aret Mcmillan Limited Cash Flow Statement For The Year Ended 31 Au ust 2024 31.8.24 31.8.23 Notes Cash flows from operating acfjvities Cash generated from opèrations 10,546 41.539 Net cash provided by opèrating activities 10,546 41,539 Cash flows from investing actlvltias Purchase of tsngible fixed assets Interest received (13.5911 4,975 3,074 Net Gash (used in)Iprovided by investing activities {8,616) 3,074 Change in cash and cash equivalents In the reporting period Cash and cash equivalents at the beginning of the reporting perlod 1,930 44,613 465,280 420.667 Cash and cash equivalents at the end ol the reporting perlod 467,210 465,280 The notes form part of these financial slatetnenls Page 8
Mar aret Mcmillan Limited Notes to the Cash Flow Statement For The Year Ended 31 Au ust 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.8.24 31.8.23 Net Income for th8 reportlng per]od (as per tho Statement of Financlal Activities) Adjustments for. Depreciation charges Interèst received Increase in debtors (Decrease)lincrease in creditors 32,253 30,527 9,851 (4,9751 18,9651 {17,6181 9,975 (3,074) (5,173) 9,284 Net cash provided by operations 10,546 41,539 ANALYSIS OF CHANGES IN NET FUNDS At 1.9.23 Cash flow At 31.8.24 Net cash Cash at bank 465.280 1,930 467,210 465.280 1,930 467.210 Total 465,280 1,930 467,210 The notes form part of these financial statements Page 9
Ma aret M¢Mlllan Llml Note8 to the Financial Statements For Tha Yoar Ended 31 A ust 2024 ACCOUNTING POLICIES Basis of preparlng the flnanclal statements The financial statements of the tharitable company. which is a public benefit entty under FRS 102, hav8 been prepared in accordance with the Charities SORP (FRS 102) '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> (effeclive 1 January 2019)., Financial Reporting Standard 102 'The Financial Reporting Slandard applicable in the UK and Republic of Ireland, and the Companies Act 2006, The financial statements have been prepared under the historical cost convention, with the 8xception of inveslments which are included at market value. The financial statements ar8 prep8r8d on the going concern basis. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement lo the funds, it Is probable that the income will be received and the amount can be measured reliably. Grant funding Is recelved In advance and is recognised over the period of delivery of the 3eNic8. Parents are invoic8d monthly in advance and this income is iecognised over Ihe perlod of the delivery of the service. Donations are recognised when thése can b8 reliably measured which is taken as at receipt, Expendlture Liabilities are recognised as expenditure a8 800n as there Is a legal or conslructive obligation comrnitling the charity to that expenditur8, 11 is probable that a transfer of economic benefits will be required in selllemenl and the amount of the obligation can be measured reliably. Expenditure is accounled for on an accruals basis and has been classifi8d under headings that aggregate all cost related to th8 category. Where costs cannot be directly attributed lo particular headings they have been allocated to activities on a basis consistent with the use of resources. Charltable actlvltles Charitable activities expenses comprise those costs incurred by the chartty for the provision of the nursery. It includes both costs that can be directly attributed lo this aclivily and those of an Ind1 ct nature nesSary to support it. Support costs Support costs are those not directly related to the dellvery of nursery actlvtties. Governance cost• Governance Costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include independent examination fees and costs linked the strategic management of the charity. Allocation and apportlonment of costs All direct costs incurr8d are considered to be in the furtherance of it's charitable objective to provide nursery education. Tanglbl8 flxed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful lrfe. Improvements to property Fixlures and fittings 100/D on wst 100/0 on cost It is the charitls policy to capitalise as fixed assets material fixtures and fillings. All other expenditure is included within the Statement of Financial Activities. Taxatlon The charity is exempt from corporation lax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objedives at the discrelion of the trustees. All funds received are unrestricted. Page 10 continued..
Mar aret Mcmillan Umlted Notes to the Financial Statements - continued For The Year Ended 31 Au ust 2024 ACCOUNTING POUCIES- continuod Hire purchase and leasing commitsnents Rentsls paid under operating leases are tharged to the Stat8m6nt of Financial Activities on a straight line basis over the period of the lease. Pension costs and other post-retirement benefits The charitable corllpany operates a defined contribution pension scheme. Contributions payable to the charitsble company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Flxed asset Investments Fixed asset investments are stated at market valuation and any movoment in the valuation is allocated to the Slaloment of Financial Activities. Financial instruments The trust only has financial assets and financial liabilities of a kind that qualify as basic financial inslrurnents. Basic financial instruments are initially recognised at transaction value and subsequenlly measured at their settlement valua. INVESTMENT INCOME 31.8.24 31.8.23 Deposit account inter8St 4,975 3.074 INCOME FROM CHARITABLE ACTIVITIES 31.8.24 31.8.23 Activity Nursery provision Nursery provision Nursery prowsion Nursery prowsion Fees Grants Milk rebates Miscellaneous income 506.228 243,526 1,092 1,256 523,728 180,316 1,312 358 752,102 705,714 CHARITABLE ACTIVITIES CQSTS Support costs (see note 5} Direct Costs Totals Nursery provlslon 707,921 16,903 724,824 SUPPORT COSTS Governance costs Depreciation Finance Totals Nursery provSsion 9,851 670 6,382 16,903 Page11 continued.
Mar aret Mcmillan Limlted Notes to the Flnanclal Statam8nts - continued For The Year Ended 31 Au ust 2024 SUPPORT COSTS - continued Support costs, included in the above, are as follows: 31.8.24 Nursery provision 31.8.23 Total activities Depreciation of tangible and heritage assets Bank charges Independent examiners fee Accountancy fees 9,851 670 1.986 4,396 9,975 792 1,860 4,344 16,903 16,971 NET INCOMEI{EXPENDITURE) Net incomel{éxpendilur8) is stated after chargingl(crediting)'. 31.8.24 31.8.23 Independ8nt examlners fee Depreciation - owned assets Other operating leases 1,986 9,851 4,838 1,860 9,974 4,506 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 August 2024 nor for the year end8d 31 August 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 August 2Q24 nor for the year ended 31 August 2023. STAFF COSTS Staff Costs 2024 2023 Gross staff salaries Employers nalional insurance Pension conlributions Agency staff 537,419 36,169 10.687 1,097 497,172 32,688 9,225 6,107 585,372 545,192 The average monthly number of employees during the year was as folIcS.. 2024 26 2023 25 Nursery staff No employees received emoluments in excess of £SO.000. Page 12 continued...
aret Mcmillan Limited Notes to the Financial Statements- Continued For Tho Y8ar Endèd 31 Au ust 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES Unrestricted funds INCOME AND ENDOWMENTS FROM Charitable activities Nursery provision 705.714 Investmènt income 3,074 Total 708,788 EXPEMDITURE ON Charitable activitie Nursery provision 678,261 NET INCOME 30,527 RECONCILIATION OF FUNDS Total funds brought foNard 441,886 TOTAL FUNDS CARRIED FORWARD 472,413 10. TANGIBLE FIXED ASSETS Improvements to propety Fixtures and fittings Totals COST At 1 September 2023 Additions 108,647 4,140 89,905 9,451 198,562 13,591 At 31 August 2024 112.787 99.3S6 212,143 DEPRECIATION At 1 September 2023 Charge for year 104,195 984 40,592 8,867 144,787 9,851 At 31 August 2024 105,179 49,459 1 $4,638 NET BOOK VALUE At 31 August 2024 7,608 49,897 57,505 At 31 August 2023 4,452 49,313 53,765 Page 13 conlinued..
aret Mcmillan Limited Notes to the Financial Statements - contlnu8d For The Year Ended 31 Au ust 2024 11. FIXED ASSET INVESTMENTS Unlisted investments MARKET VALUE At 1 September 2023 and 31 August 2024 4,000 NET BOOK VALUE At 31 August 2024 4,000 At 31 August 2023 There wére no investment assets outside the UK. The historic cost of the fixed asset investments at 31 August 2024 is £4.000 {2023'. 4,000). The investments are held for the purpos8 of prowding a return on funds to the charlly. 12. DEBTORS: AMOUNTS FALLING DUE WTHIN ONE YEAR 31.8.24 31.8.23 Trade debtors Prepayments 10,408 3,887 2,811 2,519 14,295 5,330 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.24 31.8.23 Trade creditors Other creditors Accruals and deferr8d income Accrued expenses 7.960 901 6,804 22.879 9,126 1,293 30,488 15,055 38.344 55,962 14. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows: 31.8.24 31.8.23 Within one year Between one and five years 613 1,843 2,456 fvIOVEMENT IN FUNDS Net movement in funds Al 31.8.24 At 1.9.23 Unrestricted funds General fvnd 472,413 32,253 504,666 TOTAL FUNDS 472,413 32,253 504,666 Page 14 continued.
aret McPJiillan Limited Notes to the Financial Statements - contlnu8d For The Year Ended 31 Au ust 2024 15. MOVEMENT IN FUNDS - continued Net movement in fijnds, included in th& above are as follows.. Incoming resources Resourc8S expended Movement in funds Unrestrlct8d fund8 General fund 757,077 (724,824) 32,253 TOTAL FUNDS 757,077 (724.824) 32,253 Comparatlves lor movement in funds Net movement in funds At 31.8.23 At 1.9.22 UnrestriGted funds General fund 441,886 30,527 472,413 TOTAL FUNDS 441.886 30,527 472.413 Comparative net movement in funds, included in the above are as follows., Incoming resources ResoUe$ expended Movement In funds Unre8trlcted funds General fund 708,788 (678,261) 30,527 TOTAL FUNDS 708,788 (678,261) 30,527 A current year 12 months and prior year 12 month$ combin8d position is as follows: Net movement in funds At 31.8.24 At 1.9.22 Unrestricted funds Gener81 fund 441,886 62.780 504,686 TOTAL FUNDS 441,886 62,780 S04.866 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 1,465,865 (1,403,085) 62,780 TOTAL FUNDS 1,465,865 (1,403,085) 62,780 Page 15 continued...
Mar aret Mcmillan Limited Notes to the Flnancial Statements - continued For The Year Ended 31 Au ust 2024 16. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 August 2024, <2023: non8) Page 16