REGISTERED CHARrrY NUMBER: 1119373 REPORT OF THE TRUSTEE5 AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 FOR THE SYDER FOUNDATION Banks & Cts Llmlted Chartered Certified Accountants Statutory Auditors I Carnegie Road Newbury Berkshlre RG14 5DJ
THE SYDER FOUNDATION CONTENTS OF THE FINANCIAL STATEMENTS For The Year Ended 30 Septembar 2023 Pa9e Report of tha Trustees Report of the Xnd•pendent Audltors statement of Flnanclal Artlvltles 4 to S Balance Sheet Cash Flow Statement Nots$ to the Cash Flow Statement Not•s to tha Flnan¢lal Statements 10 to 15
THE SYDER FOUNDATION REPORT OF THE TRUSTEES For The Yaar Ended 30 September 2023 The Trustees present their report with the flnancial statements of the Charity for the year ended 30 September 2023. The Tnjstees have adopted the provisions of Accountlng and Reporting by ChatieS.. statement of Recommended Practlce applicable to charities preparing their accounts In accordance wlth the Financial Reportin9 Standard applicable In the UK and Republic of Ireland IFRS 1021 (Effectlve I January 20191. OBJEcfxvES AND ACTIVITIES Objectlves and alms The objertlve of the Charfty Is to advance, promote or carry out any lawful Charitable Purpose as the Trustees in thelr ab501ute dlscretlon from tlme to tlrne thlnk flt. Publlc ben¢flt The focus of the Charfty 15 to provide fundlng to suitable cause5, determlned by the Trustee5, whlch provide beneflt to the general pub11¢, The Tru5tee5 have had due regard to the Charity Commls5ions' guidance on publlc beneflt. Grantmaklng The Trustee5 Identlfy charlties or projects whlch allgn with the objectlves of the Charlty. Sultable grant appllcations re¢elved are researched and, if approprlate, due dlllgence undertaken. Grant offers will be made when the Trustees are satlsfled that the cause Is viable and capable of belng properly managed. Grant5 are awarded primarlly to charitles withln the UK. In the event that grants are awarded to charfties estab115hed outside the UK, the Trustees wlll condutt an assessment followln9 the guldance prlnciples provlded by the Charity Comrnls51on to ensure that.. the actlvitie5 carrled out arÈ in furtherance of the Charlty's purposes asonable steps are taken to monltor the use of funds for proper charltable purposes. Although there are no upper or lower limlts to the size of grants made, the number of projects and charftles that can be 5UPPOrted Is Ilmlted by the amDunt of fund5 de51gnated by the Trustees for dlstrlbutlon each year. The Chaty seek5 to dlstrlbute approxlmately 80Dlo of the fund5 designated for distributlon each year to ten or fewer reclpients as 'large grants., wlth the balance made available as larger number of 'small grants,. ACHIEVEMENT AND PERFORMANCE The Charity, over the past slx years, has provlded grants of £2,650,000 that have helped allow reclplent charitie5 to fund their respertlve oblertives and undertake varlous capital proJert5. The Trustees consider the performan of the Charity's Investments to be In Ilne wlth the longer term Investment objectlve5. FINANCIAL REVIEW Investment policy and objectives The Charlty seeks to Invest In Investment assets whlch are prlmarfly equltles, comblned wlth cash deposlts and bonds. In general, each class of Investment asset should produce Income and should be at the lower end of the rlsk spertrum. The majority of the Charlty's Investments are managed by Evelyn Partners. The current Investment objertive Is to generate a total return of 30/0 over Inffatlon per annum, over the medlum term after Investment management expenses. This should allow the Charlty to malntain the real value of Its net assets, whllst fundlng annual charltable grant5 In the reglon of 3% per annum. Poge I
THE SYDER FOUNDATION REPORT OF THE TRusfEES For The Yéay Ended 30 Saptember 2023 FINANCIAL REVIEW Reseri¢s pollcy The Charity Is governed by a Trust Deed dated 16 March 2007, amended on 10 July 2019. The Charlty's total unStrICted reserves amount to £16,991,555 12022.. £15,816,268). The fvnd5 held are held for the general purposes of the Charlty, there are no restritted or permanent endowment funds, The Trustees wlsh to be able to malntain a level of general reseNes over the next few years In order to generate annual inc¢me of between £300,000 and £500,000. Should the level of grants made in a slngle year exed the level of Investment Income received, the Trustees may elect to reduce reserves as they see fit. The Trustees belleve that the exlstlng level of reserves Is 5ufficlent for the Charlty's current purposes and are reviewed on an annual basls. FUTURE PLANS The Trustees will contlnue to ensu that the Charfty has suffi¢lent resources to meet Its alms and obJertlve5 in the future. STRucfuRE, GOVEKNANCE AND MANAGEMENT Governing document The Chartty is ¢tsntrolled by Its 9overnlng document, a Deed of Trust, and constitutes an unlncorporated Charlty. Recrultment and appointment of new Trustees Appointment of Trustee5 is governed by the Constltutlon of the Charlty. The Trustees are re5p¢nslble for over5eelng the affalr5 of the organisatlon. Organisatlonal $trurture The Charity wa5 reglstered on 24 May 2007 and Is admlnlstered by the Trustees who were the orlglnal donors responsible for Its establishment. All decisions are made by the Trustees. Rlsk management The Trustees have a duty to identify and revlew the risks to which the Charlty Is expose(S and to ensure appropriate controls are In place to provlde reasonable assurance agoin5t fraud and error. The Trustees, who are experlenced In Investment management, vIeW the Investment holdlngs on regular basi5, identlfy and monitor relevant rlsks and rnanage these risks accordlngly. REFERENCE AND ADMINISTRATIVE DETAILS Reg15tered Charlty nUrnr 1119373 Prlnclpal adOr•ss PO Box 6277 Newbury Berkshlre RG14 9PN Trustoes Mrs C Syder TDJSyder Page 2
THE SYDER FOUNDATION REPORT OF THE TRusreES For Th• Year Endèd 30 Septembèr 2023 REFERENCE AND ADMINISTRATIVE DAILs Auditors Bank5 & Co Llmited Chartered Certified Accountants Statutory Audltors I Carnegle Road Newbury Berkshlre RG14 5DJ AUDITORS A SolUtion pmposlng that Banks & Co Urnlted be re appolnted as audltors of the charlty will be put to the Annual General Meeting. srATEMENT OF TRUSTEES. RESPONSIBILrrIES The trustees are responslble for preparlng the Report of the Tru5tee5 and the ftnanclal Statements In accordance with applicable law and Unlted Klngdorn Accountlng Standards Iunlted Kingdom Generally Accepted Accountlng Practice). The law appllcable to ChaeS In England and Wales, the Charltles Act 2011, Charlty (Accounts and Reports) Regulation5 2008 and the provisions of the trust deed requlres the trustees to prepare financial statements for each flnanclal year which glve a true and falr vlew of the State of affalrs of the charity and of the incoming resources and application of resource5, includlng the income and expenditure, of the ¢harfty for that perfod. In prepartng those financlal statements, the trustees are requlred to select sultable accounting policies and then apply them cons15tently; observe the methods and prlncSples In the Charity SORP,. make Judgements and estlmates that are reasonable and prudent. state whether appllcable accounting Standards have been followed, subjert to any materlal dep4rtures dlsclosed and explalned In the financlal statements,. prepare the financial Statements on the 90ing concern bas15 unless It is Inapproprtate tD presume that the charfty w511 continue In buslnes5. The trustees are responslble for keeplng proper accountSng recorc$5 whl¢h dlsclose wlth reasonable accuracy at any tlme the flnanclal posltlon of the charity and to enable them to ensure that the flnan¢lal statements comply wlth the Charities Act 2011. the Charlty IAccount5 and Reports) Regulotlon5 2008 and the provi51ons of the trust deed. They are also responsible for safeguarding the assets of the charlty and hence for taklng reasonable steps for the prevention and detertlon of fraud and other irregularftie5. and signed tsn its behalf Approved by.. the board of trustees on T D J Syder - Trustee Page 3
REPORT OF THE INDEPENDENT AUDZTORS TO THE TRUSTEES OF THE SYDER FOUNDATION Oplnlon We have audlted the flnanciol statements of The Syder Foundatlon (the 'charlty') for the year ended 30 September 2023 which compr15e the Statement of Flnancial Actlvities, the Balance Sheet, the Cash Flow Statement and note5 to the flnancial statements, including a summary of slgnificant accounting policies. The financial reportlng framework that ha5 been applied In their preparation is appllcable law and United Klngdom Accountlng Standard5 Iunlted Klngdom Generally Accepted Accountlng Prartlce). In pur oplnion the flnancial statementS'. glve a true and fair vlew of the state of the charfty's affalrs as at 30 September 2023 and of Its Incornlng resources and application of resources, for the year then ended,. have been properly prepared In accordance with Unbted Kingdom Generally Accepted Accountlng Practice; and have been prepared in accordance wlth the requirements of the Charitles Act 2011. Basls for oplnion We conducted our audlt In accordance w1th Internatlonal Standards on Audltlng {UKI {ISA5 (UK)) and appllcable law. Our responsibllities under those standard5 are further described in the Auditors, ponslbilitles for the audlt of the flnanclal statement5 section of our report. We are Independent of the charity In accordance wlth the ethlcal requlrements that are relevant to our audlt of the fSnancial statements in the UK, Includlng the FRC'S Ethlcal Stsndard, and we have fulfllled our other ethical re5ponsSbillties in accordan wlth these requlrements. We belleve that the audlt evidence we have obtalned Is suffldent and appropriate to provlde a basls for our op1nlon. Concluslons relatlng ts golng concern In auditlng the flnancial statements, we have concluded that the trustees, use of the going concern ba51s of accountlng in the preparaan of the ff nanclal statements Is approprfate. Based on the work we have performed, we have not Identlfled any materlal uncertalntles relating to events or conditions that, Indivldually or collettively, may cast slgnlficant doubt on the charlty's abllity to continue as a golng concern for a period of at least twelve months from when the flnancial statements are authorised for Issue. Our respon5ibilltles and the responslbllities of the trustees wlth re5pert to golng Concem are described In the relevant sections of thls report. othar Informatlon The trustees are spOnSIble for the other Information. The other Informatlon ctsmpdses the Informatlon Included In the Annual Report, other than the financlal statement5 and our Report of the Independent Auditors thereon. Our opinlon on the financlal ststernents does not cover the other Infomation and, except to the extent otherwise expllcitly stared In our report, we do not express any form of assurance conclu51on thereon. In connectlon with our audit of the flnancial statements, our re5ponslblllty 15 to read the other Informatlon and, in dolng so, Consider whether the other Informatlon is materlally Inconslstent wlth the flnancial statements or our knowledge obtalned in the audlt or otherwise appears to be materlally mlsstated. If we identify such materlal inconsistencles or apparent material misstatement5, we are rèquired to determlne whether thls glves rise to a material mlsstaternent in the financial staternents themselves. If, based on the work we have performed, we conclude that there Is a materlal mlsstatement of thls other Informatlon, we are required to report that fact. We have nothlng to report In thls regard. Matters on whlch we are r•qulred to roport by exceptlon We have nothlng to report In respett of the following matters wherè the Charitles (Accounts and Reports) Regulatlon5 2008 requires us to report to YDU if, In our opinlon.. the informatlon given In the keport of the Trustees Is Incon51stent In any materSal respett wlth the financial statements,. or sufficient accountlng records have not been kept,. or the financial statement5 are not In agreement wlth the accountlng records and retums; or we have not received all the Information and explanatlons we require for our audlt. Page 4
REPORT OF THE INDEPENDENT AUDThORS TO THE TRUSTEes OF THE SYDER FOUNDATION Responslbilltles of trustees A5 explalned more fully In the Statement of Tru5tees' Respon51billtie5, the trustee5 are responslble for the preparation of the flnanclal statements which give a true and falr view, and for such internal control as the trustees determine Is necessary to enable the preparatlon of finan¢lal statements that are e frorn materfal mlsststement, whether due to fraud or eror. In preparfng the financlal statements, the trustees are responslble for assesslng the charlty's ablllty to contlnue as a going concem, discloslngi a5 applicable, matters related to going toncem and using the going concern ba515 of accountlng unle55 the trustee5 elther intend to liquidate the charity or to cease Operaon5, or have no reallstlc alternattve but to do so. Our re$ponslbllltle5 for the audlt of the flnanclal statèments We have been appointed as auditors under Section 144 of the Charltles Att 2011 and report In accordance wlth the Art and relevant regulatlons made or havlng effett thereunder. Our objettives are to obtaln reasonable assurance about whether the flnanclal Statements as a whole are free from materlal misstatement, whether due to fraud or error, and to Issue a Report of the Independent Audltors that Indudes our oplnlon. Reasonable assurance Is a hlgh level of assurance, but is not a guarantee that an audit condurted In acwrdance wSth ISAS (UK) will always detect a material mlsstatement when It exlst5. Misstatements can arlse from fraud or error and are c¢nsldered materlal If, Indlvidually or In the aggregate, they could reasonably be expetted to Influence the economlc declsions of users taken on the basis of these flnanclal statements. The extent to whlch our procedures are capable of detectlng Irregularltles, Includlng fraud is detalled below.. Enqulry of management and those charged wlth governance around attual and potentlal Iltlgation clalms,. Enqulry of staff In compllance funrtions to Identify any Instance5 of non-compllance with laws and regulation5' Reviewing financlal staternents dlsclosure and testlng to supportlng documentatlon to assess compliance wlth applicable law5 and regulation5; Performlng audlt work over the rlsk of management overrlde of contro5s, Indudlng testlng of Journal entrie5 and other adjustments for appropriateness, evaluating the business ratlonale of signlflcant transaction5 Outslde the norrnal course of business and reviewing accountlng estimate5 for blas, A rther descrlptlon of our responslbllltles for the audlt of the financlal statements Is located on the Finantlal Reporting C¢uncll's website at www.frc.org.uklaudltorsresponslbSlltles. Thls descrlptltyn fomis part of our Report of the Independent Audltors. Us• of our report Thls report 15 made solely to the charfty's tru5tee5, as a body, In accordance wlth Part 4 of the Charltie5 (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we mlght state to the charity's trustees those Matte we are required to state to them Sn an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responslblllty to anyone other than the charity and the charity's trustees as a bodyi for our audit work, for thls report, or fort e oplnlons we have formed. Banks & Co Llmlted Chartered Certlfled Accountants Statutory Audltors I Camegle Road Newbury Berkshlre RG14 5DJ Date.. P)ge 5
THE SYDER FOUNDATION ATEMENT OF FINANCIAL ACTIVITIES For Thè Year ended 30 September 2023 2023 Unrestrlrted fund 2022 Total fund5 Notes INCOME FROM Investment Income 345,684 417,151 EXPENDrruRE ON PortfolS0 management 81,590 1,456 Charltable actlvlties Charitable Activitles 416,180 475,657 Other 16,853 18,516 Total 514,623 495,629 Net galnslllossesl on Investments 1,344,226 11.087,899) NEf INCOME/{ExpeNDXTURE) 1,175,287 11,166,377) RECONCILIATION OF FUNDS Total funds brought forward 15,816,268 16,982,645 TOTAL FUNDS CARRIED FORWARD 16,991,555 15,816,268 The notes forrn part of these flnanclal statements Page 6
THE SYDER FOUNDATION BALANCE SHEET 30 Sept•mber 2023 2023 Unrestrlcted fund 2022 Total funds Note5 FIXED ASSETS Investments 16,887,359 14,589,562 CURRENT ASSETS Cash at bank 109,527 1.231,278 CREDITORS Amounts falling due withln one year io (5,3311 (4,572) NET CURRENT ASSETS 104,196 1,226,706 TOTAL ASSETS LESS CURRENT LIABIUTIES 16,991,555 15,816,268 NET ASSETS 16,991,555 15,816,268 FUNDS Llnrestrlcted fvnds li 16,991,555 15,816,268 TOTAL FUNDS 16,991,555 15,816,268 The flnanclal statements were approved by the Board of Trustees and author15ed for Issue on and were slgned on It5 behalf by-. C Syder - Trustee The notes forni part of these flnanclal statements Page 7
THE SYDER FOUNDATION CASH FLOW STATEMENT For The Year Ended 30 Sèpt•mber 2023 2023 2022 Notes Cash flows from operating actlv5tles Cash generated from operations 1514,928) 1495,3621 Net cash used In oper?tlng actsvltles (514,9281 1495,3621 Ca$h flows from Invostlng actlvltles Purchase of fixed asset investments Sale of flxed asset investments Interest received Dividends received (1,335,937) 383,430 10,369 335,315 {660,837} 151,456 9,200 407,951 Net cash used In Investing attlvltles (606,823) (92,2301 Chan98 In cash and cash equTvalents In the rèportlng ptrlod Cash and cash equlvalents at the beglnnlng of the reportlng perlod Cash and cash equivalents at th• ond of tht reporting perrod {1,121,7511 1587,592) 1,231,278 1,818,870 109,527 1,231,278 The notes form part of these flnanclal statement5 Page 8
THE SYDER FOUNDATXON NOTES TO THE CASH FLOW sfATEKENT For Tho Year Ended 30 September 2023 RECONCILIATION OF NET INCOMEI(EXPENDITVRE) TO NET CASH FLOW FROM OPERATING AcfivxTIES 2023 2022 Net Incoma/(exp¢ndlture) for the roportlng perlod (as per the Statement of Financlal Actlvltleg) AdJustmant5 for: (Galnlllosses on investments Interest received Divldends re1Ve Unrealised IGains)ILosses on 1nvestment Cash re-valuation Increase in cdItorS 1,175,287 {1,166,377) (216,1561 888,092 110,3691 19,200) 1335,315) 1407,951) {1,128,070) 199,807 11,064) 13911 759 658 N¢t cash used In operatlons {514,9281 1495.362) ANALYSIS OF CHANGES IN NET FUNDS At 1.10.22 Cash flow At 30.9.23 Net Cash Cash at bank 1,231,278 (1,121,751) 109,527 1,231,278 11,121,751) 109,527 Total 1,231,278 (1,121,751) 109,527 The notes fomi part of these flnanclal statements Page 9
THE SYDER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS For The Year Ended 30 September 2023 ACCOUNTING POLICIES Ba$ls of preparlng the financlal stat•ments The financlèl statement5 of the charity, whlch Is a public benefit entlty under FRS 102, have been ppared In accordance wlth the Charlties SORP IFRS 1021 'Accounting and Reportlng by Charities.. statement of Recornmencled Prartice appllcable to charitles pparing their atcounts in accordance with the Financlal Reporting Standard èppllcable In the UK and Republlc of Ireland (FRS 1021 leffective l January 2019}', Financial ReportSng Standard 102 'The Flnanclal Reporting Standard appllcable In the UK and Republic of Ireland. and the Charltles Art 2011. The flnanclal statements have been prepared under the hlstorlcal cost conventlon, wlth the exceptlon of investments which are Included at market value, as modlfled by the revaluation of certaln assets. The Charlty ha5 determined that there are no post balance sheet events and accordlngly, the finantial posltlon a5 at, and results of the artivitie5 for, the year ended 30 September 2023 have not been adjusted to retlett thelr Impart. Income All Income 15 recognised In the Statement of Financlal Actlvltles once the charfty has entltlernent to the funds, It Is probable that the Income wlll be CeIved and the amount can be measured reliably, Expenditurn Uabilities are recognised as expendlture as soon as the Is a legal or con5trucbve obllgatlon committlng the charity to that expendlture, It Is probable that a transfer of economic benefTts wlll be required In settlernent and the amount of the obligatlon can be measured rellably. Expendlture Is accounted for on an accnjals basis and has been classlfled under headings that aggregate all cost related to the category. Where costs cannot be dlrectly attrlbuted to partlcular headlngs they have been allgcated to artSvltles on a basis consistent wlth the use of resources. Grants offered subjett to conditlon5 whlth have not been met at the year end date are noted as commitment but not accrued as expendlture. Taxatlon The charity 15 exempt from tax on Its charltable actlvltles. Fund accountlng Unrestrlcted fund5 can be used In accordance with the charltable obJertive5 at the discretlon of the trustees. Restrlcted funds can only be used for partScular restricted purposes withln the objerts of the charity. Restrlctions artse when 5pecifléd by the donor or when funds are raised for particular re5trlrted purposes. Further explanatlon of the nature and purpose of each fund Is Included In the notes to the flnanclal statements. Investments Investments are stated at market value at the balance sheet date. The Statement of Flnancial Activities includes the net galn5 and losses arislng on revaluations and dlsposals throughout the year, Page 10 contlnued...
THE SYDER FOVNOATION NOTES TO THE FINANCIAL STATEMENTS - contlnued For The Year Ended 30 September 2023 INVESTMENT INCOME 2023 2022 Interest Dlvidends 10,369 335,315 9,200 407,951 345,684 417,151 Two large dlvldend5 We recelved In 2022 that were not repeated in 2023. PORTFOLIO MANAGEMENT Investment managem6nt costs 2023 2022 Portfolio management 81,590 1,456 CHARrrABLE AcfIvITIES COSTS Grant funding of actlvltSes (see note 51 Charitoble Actlvltles 416.180 GRANTS PAYABLE 2023 2022 Charltable Actlvltles 416,180 475,657 The total grants pald tts organlsatlons during the year wa5 as follows.. Year ended Year ended 30.09.23 30.09.22 other Charltable organlsatlons 416,180 475,657 Future Plédges As at the year end the Charity had future pledges totalllng £210,000 whlch were carried forward to thè new flnancial year. Page 11 contlnued...
THE SYDER FOUNDATION NOTES TO THE FINANCIAL 5TATEMENTS- contlnued For The Yéar Ended 30 Septsmber 2023 SUPPORT COSTS Governance costs Management Finan Tota5s other resources expended 323 163 16,367 16,853 Support costs, Included In the above, are a5 follows.. 2023 Other resources expended 2022 Total actlvltles Postage and statlonery Bank charges Audltors. remuneratlon Accountancy Legal fees Consuitsncy 323 163 2,500 1,500 514 71 2,127 1,395 702 13,707 12,367 16,853 18,516 AUDITORS, REMUNERATION 2023 2022 Auditors, remuneratlon Audltor's rernuneratlon - Non audlt 2,500 1,500 2,127 1,395 4,000 3,522 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other beneflts for the year ended 30 September 2023 nor for the year ended 30 September 2022. Trustee$. •xpenses There were no trustees, expenses pald for the year ended 30 September 2023 nor for the year ended 30 September 2022. FIXED ASSEf INVESTMENTS 2023 2022 Shares Corp¢rate Bond5 16,787,359 14,489,562 loo,000 loo,000 16,887,359 14,589,562 Page 12 contlnued...
THE SYDER FOUNDATION NOTES TO THE FINANCIAL sfATEMENTS - ¢ontlnued For Thè Year Ended 30 Saptembar 2023 FIXED ASSET INVESTMENTS - ¢ontlnu•d Addltlonal Informatlon as follows: Cash and settlements pendlng Quoted shares Tota5s MARKET VALUE At l October 2022 Addition5 Dlsposa15 Unrealised galns/(Ivsses) Realised gains/{lossesl 13,816,628 672,934 14,489,562 6,280,575 5,874,857 12,155,432 14,753,636) (6,449,289) 111,202,925) 217,220 217,220 1,128,070 1,128,070 At 30 September 2023 16,688,857 98,502 16,787,359 BOOK VALUE At 30 September 2023 16,688,857 98,502 16,787,359 At 30 September 2022 13,816,628 672,934 14,489,562 HISTORICAL COST UK Overseas 2023 2022 sted investments Cash 7,061,123 98,502 8,560,729 15,621,852 14,016,435 98,502 672,934 7,159,625 8,560,729 15,720,354 14,689,369 INVEsfMENTS AT MARKET VALUE COMPRISE: UK Overseas 2023 2022 Llsted Investments Cash 7,385,066 98,502 9,303,791 16,688,857 13,816,628 98,502 672,934 7,483,568 9,309,791 16,787,359 14,489,562 Cost or valuatlon at 30 September 2023 15 represented by: Cash and settlements pendlng Quoted shares Totals Valuation In 2023 Cost 1,067,005 15,621,852 1,067,005 98,502 15,720,354 16,688,857 98,502 16,787,359 Investments (nelther Ilsted nor un115ted) were a5 follow5.. 2023 2022 Corporate Bonds loo,000 loo,000 Page 13 ontlnued...
THE SYDER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - contlnued For Th¢ Year Ended 30 Septembar 2023 10. CREDrroRS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 other credltors 5,331 4,572 11. MOVEMENT IN FUNDS Net movement in funds At 1. 10.22 At 30.9,23 Unrestrlcted funds General fund 15,816,268 1,175,287 16,991,555 TOTAL FUNDS 15,816,268 1,175,287 16,991,555 Net movement In funds, Included In the above are as follow5.. rncomlng resources Resources expended Gains and losses Movement In funds Unrestrlctad funds General fund 345,684 1514,623) 1,344,226 1,175,287 TOTAL FUNDS 345,684 (514,623) 1,344,226 1,175,287 Comparatlves fr*r movement In funds Net movement In ftinds At 1.10,21 At 30.9.22 Unrèstricted fund$ General fund 16,982,645 (1,166,377) 15,816,268 TOTAL FUNDS 16,982,645 {1,166,3771 15,816,268 Comparatlve net movement In funds, Included In the above are as follows.. Incoming resources Resource5 expended Gains and losses Movement in fund5 Unrestrfcted funds General fund 417,151 (495,629) 11,087,899) 11,166,377) TOTAL FUNDS 417,151 (495,629) 11,087,899) 11,166,377) Page 14 contlnued...
THE SYDER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - contlnued For Tha Yaar Ended 30 September 2023 11. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months comblned posltlon Is as follows.. Net movement In funds At 1.10.21 At 30.9.23 Unrertrlcted funds General fund 16,982,645 8,910 16.991,555 TOTAL FLINDS 16,982,645 8,910 16,991,555 A current year 12 months and prlor year 12 months comblned net movement In funds, Included In the above are as follows.. Incorning resources Resources expended Gain5 and losses Movement in funds Unrestrfcted fund$ General fund 762,835 11,010,252) 256,327 8,910 TOTAL FUNDS 762,835 (1,010,252) 256,327 8,910 12. RELATED PARTY DISCLOSURES There were no related party transattlDn5 for the year ended 30 September 2023 nor for the year ended 30 September 2022. 13. ULTIMATE CONTROLLING PARTY The Trustees conslder there to be no ryjntrolllng party. Page 15