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2023-03-31-accounts

THE BEADWORKERS GUILD (A company limited by guarantee) FINANCIAL STATEMENTS 31 MARCH 2023

(Company Number: 6193041) (Charity Number: 1119734)

The Beadworkers Guild Year ended 31[st] March 2023

Contents

Reference and Administrative details 1
Trustees’ Report 2 – 6
Independent Examiner’s Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 – 14

The Beadworkers Guild Reference and Administrative details Year ended 31[st] March 2023

Registered Company Number: Registered Charity Number: 1119734

6193041 (England & Wales)

Trustees (Directors of the Company):

E Alford D Bending (appointed 6 May 2023) M Carlton - Chairwoman (from 26 January 2023) C Cowie J Dunn S Fairhurst K Gibson-Brown F Millard Treasurer J Swain (appointed 7 May 2022, resigned 26 January 2023) E Thornton - Chairwoman (resigned 26 January 2023)

Company Secretary: E Alford Registered Office: The Beadworkers Guild c/o Burgin & Co Blue Pig Cottage 1 Elmer Street North Grantham NG31 6 RE Bankers: CAF Bank 25 Kings Hill Avenue Kings Hill West Malling ME19 4TA Independent Examiner: Olayinka Tomori ACA DChA Longmeade Consult Ltd Regus House Victory Way Admirals Park Dartford, DA2 6QD

1

The Beadworkers Guild Trustees’ Report for the Year ended 31[st] March 2023

INTRODUCTION

The trustees, who are also the directors under Companies Act, are pleased to present their report together with the financial statements of the charitable company for the year ended 31st March 2023.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association 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 the Republic of Ireland (FRS 102) (second edition effective 1 January 2019).

OBJECTS

The objects of the charity are to promote and encourage the art of beadwork and the creation of fine articles incorporating the use of or associated with beadwork; to advance the education of the public in the history and artistic and technical skills of beadwork, in particular, but not exclusively by the provision of instructional teaching in the practice of beadwork and by the collection, preservation and exhibition of examples of fine beadwork.

Public Benefit

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our work and in planning future activities. This is demonstrated in our activities and achievements below.

ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE DURING THE YEAR

Membership

Membership of the Guild decreased to 1829 members, a decrease of 308 members on the previous year. Overseas membership continues to grow, and this is supported by our continued online events which reaches a wide international audience.

Administration

Our membership and office administrator, Alison Peacock, has been kept very busy again assisting us with the day-to-day membership enquiries and applications, as well as familiarising herself with the digital version of the Journal and new online membership system via the shop. Another challenging year and we are grateful for her continued hard work and support!

The Journal

This year has seen us welcome more variety to the Journal, having featured patterns from seven new designers, and interviews and articles from still more new contributors. We are still striving to be the best we can, with a focus on inclusivity and accessibility for the coming year. We plan on polling our members in the autumn to see what impact our changes have had and what areas they want to see change in.

We have changed the packaging of the Journal this year, to a recyclable plastic that’s more robust to reflect the growing number of overseas members who require sturdier packaging. We have also included more extras in the Members’ Area of the website, again to try and provide the most resources possible.

The Journal team remains strong, with lots of collaboration particularly between Beth, our Deputy Editor, and Chloe, our Trader Liaison, to try and promote our traders and help support local bead shops. Liz Thornton has remained on the Journal team to continue to do the diagrams for the Journal.

Despite several attempts, the Guild has not been able to reach an agreement with Jean Power over the publication of the pattern which was seen to be similar to one of her designs as Jean has not replied to any of our emails or letters. Until there is an agreement, the Guild will not be making any further comment.

2

The Beadworkers Guild Trustees’ Report for the Year ended 31[st] March 2023

E-Newsletter

As there are now more activities on the Guild’s calendar of events, the e-newsletter continues to be an important source of information to keep our members up to date. The newsletters are sent eight times each membership year, in between Journals, plus a special update is sent in July, ahead of our IBW celebrations, to make sure everybody is aware of what is happening and when.

The initiative to re-imagine or re-work patterns from the Introduction to Beadwork books has continued to be popular, and our volunteer editor, Karen Gibson-Brown received regular feedback from members with suggestions for future mailings and offering general feedback, which is gratefully received.

Shows

a. One day shows

We have continued our attendance at Craft and Bead shows again this year where we have had local support and our “Fuchsia and Lime” displays were well received by all who saw them. Thanks go to all our volunteers who are helping us to build up our ability to attend events, and who have helped make the stands such a success.

b. Weekend shows

In November 2022 we attended the Harrogate Knitting and Stitching show, a four-day event where we were able to demonstrate and display our members’ work with ‘Fuchsia and Lime’ as the colour theme. We also carried out taster session workshops on each of the four days. Thanks to all or local and not so local volunteers. We attended the Scottish Exhibition show for 4 days in October 2022 and 3 days in March 2023. The October show was busy, and our Christmas Tree decoration workshop proved popular. The March show was quieter but there were plenty of regulars visiting the stand and we provided a ‘Spring bracelet’ workshop. The stand display was much admired, as were the beaded beads that the Beadwildered group provided, along with a selection of their jewellery and geometric work.

c. Month-long exhibition

In February Trustee Karen Gibson-Brown and her willing team of volunteers from the A1 Bead Club did an amazing job of organising and manning a month-long ‘Oranges and Lemons’ exhibition of work at Tennants’ Garden Rooms in Leyburn, North Yorkshire, which included setting up and taking down the display, plus live demonstration days throughout the whole of the month.

Other than at shows, this is the first time that the Guild has held an exhibition in the north of England, and it was incredibly well received. The ‘Oranges and Lemons’ display worked its magic once again, wowing visitors from far and wide and also brought new people in who had come just to see the beadwork, much to the delight of the Tennants’ management, whose directors have invited Karen and her team back to do it all again in February 2024, this time with the ‘Fuchsia and Lime’ display.

d. The Beading Festival 2022

This was our first in-person event since the pandemic. We held two workshops on Friday, one was a necklace project attended by 11 members, the other was about design, with 8 members attending. On Saturday we held our group Bead In with the theme of ‘Bead a Tree for the Queen’s Jubilee’, with 75 members attending.

Online events

We began to host online events during lockdown and we continue to reach out with them to engage our isolated and less mobile members as well as our overseas members.

Drop In Events are free of charge and held monthly. We hosted two x 2 hour sessions per day, one in the morning and another in the early evening, which is more convenient for our overseas members. These events are open to non-members and regularly have an attendance of between 25 and 30 people.

Meet, Mingle and Make events are a day of communal beading to a theme with a pattern booklet provided. We held two sessions in each of February, August and October and one in December. In addition, we hosted an online session for our overseas members based on the Bead In from our inperson event in May. Over all the events, a total of 145 members attended.

3

The Beadworkers Guild Trustees’ Report for the Year ended 31[st] March 2023

International Beading Week (IBW) is also hosted online during the last week of July. We held twelve x 2-hour sessions morning and afternoon. The highest attendance this year was 96 participants on the Saturday evening session; the lowest attendance was Thursday morning, when we had only 14 attendees.

Workshops were hosted in January with tutor Melanie de Miguel, in April with Liz Thornton, in June and September with Cath Thomas and in November with Karen Gibson-Brown; a total of 55 participants attended the workshops.

Website, Facebook & Social Media

Social Media, encapsulating Facebook and Instagram, for the period ended March 2023, stood at 6,538 followers. This is another small increase on the previous year. As we follow another year of adjustment, we are seeing bead groups meeting regularly in person, but this is complemented by those valuing online contact, especially with overseas beaders, as it makes friendships easy to maintain regardless of physical distance.

Instagram posts continue to feed directly to the Guild’s main page – this is, in its simplest state, our ‘What’s On’ guide and notice board. The Facebook Guild Group page is the interactive social hub for the Guild, where the members continue to be supportive of each other, whilst the Albums we have created continue to be a showcase for the Journal, Online Workshops, IBW, and Meet, Mingle and Make projects in a wide range of colours.

The Guild’s website continues to be the first point of contact with the Guild for many beaders, especially as the new Digital Journal is now available to members to view in their members’ area forever. Other areas of the site have continued to evolve with new patterns being added, old ones removed, stitch guides, workbooks and new products in the shop. The online Meet, Mingle and Makes and monthly social Drop Ins are all announced and fully bookable through the shop. It is important that bookings are made via the shop as the social media volunteers have no access to the Drop-In sessions so struggle to help those who try to join late by asking to be added using Facebook Messenger.

A big change this year has been the management of our membership system – London & Zurich’s procedural changes had a knock-on effect to some members’ direct debit payments. However, Alison Peacock has proved to be invaluable sorting out the issues.

Education

Unfortunately, due to pressures of other Guild events and work, the development of the new education programme has not progressed. However, the education team hope to return to the work soon.

New Publications

We published a book of Art Deco Beadwork designs in May 2022. We are very pleased with it and it has been very well received.

The Challenge

This year’s Challenge topic of ‘Fur and Feather’ attracted eleven individual entries and one group entry.

The Collection

There haven’t been any new items added to the Guild’s collection of beadwork this year, but we have continued to feature items from the collection on the back page of the Journal

4

The Beadworkers Guild Trustees’ Report for the Year ended 31[st] March 2023

FINANCIAL REVIEW

Income fell from £116,180 to £108,896 mainly from a 10.2% reduction in membership fees and the comparatively smaller Beading Festival being held in 2022. However, book sales rose from £963 to £6,127 from sales of the Art Deco book.

Expenditure on the other hand, rose from £83,678 in 2022 to £93,685 in 2023. The rise was driven by the cost of production of the Art Deco book and governance costs increasing from £1,190 to £6,542 due to costs of Committee meetings and legal costs.

Gift Aid contributed £5,402 to income compared with £8,603 in the previous year.

Reserves Policy and Risk Review

The trustees are aware of the relatively high level of free reserves held at the year end. The Trustees continue to remain cautious especially with the uncertainties in the UK and global economy and the impact it could have on membership numbers, events and sales. During 2022, trustees agreed to continue maintaining one year’s worth of expenditure in free reserves which equates to approximately £100,000. The trustees will review the position annually, in the light of the prevailing circumstances in the charity.

Going Concern

After making appropriate enquiries, the trustees have a reasonable expectation that there are no uncertainties in the charity’s ability to continue as a going concern. Further information is included within the accounting policies in these financial statements.

FUTURE PLANS

The charity intends to continue with its activities as stated within its objects and to improve membership numbers. Work is continuing to develop the Guild’s use of social media to allow effective use of modern methods to achieve its aims.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

The Beadworkers Guild is constituted as a charitable company limited by guarantee and is therefore governed by a memorandum and articles of association. The company was incorporated in March 2007 and was registered as a charity in June 2007. An amendment was made to the memorandum and articles of association in May 2009.

Directors/Trustees – Appointment and induction

The charity is administered by the trustees who form the management committee. Trustees are elected by the members at the AGM. Committee member vacancies can be filled until the next AGM by a member appointed by the committee. The committee meets at least four times a year to make decisions about the management and direction of the Guild, and delegate tasks for the running of the organisation, either to sub-committees of members, individual member volunteers, or to the member of staff who is editor of the Journal.

Board of Directors/Trustees

The following stood down as Directors during the year and up to the date of signing these accounts: Jan Swain and Elizabeth Thornton on 26 January 2023. Denise Bending was appointed as a director on 6 May 2023. Mairi Carlton took over as Chairwoman following Elizabeth Thornton standing down as a director.

5

The Beadworkers Guild Trustees’ Report for the Year ended 31[st] March 2023

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees (who are also directors of The Beadworkers Guild for the purposes of company law) are 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 charitable company 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 are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time of the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report was approved by the board of directors and trustees on 8 December 2023 and signed on their behalf.

……………………………….. ……………………………………… M Carlton F Millard Director and Trustee/Chair Director and Trustee/Treasurer

6

The Beadworkers Guild

Independent Examiner’s Report for the Year ended 31[st] March 2023

I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity’s trustees of the charitable 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 the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the charitable company 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 your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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 accounts 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 accounts to be reached.

……………………………………..

Olayinka Tomori ACA DChA Longmeade Consult Ltd Regus House Victory Way Admirals Park Dartford, DA2 6QD

11 December 2023

7

The Beadworkers Guild

Statement of Financial Activities (incorporating the Income & Expenditure Account) For the Year ended 31[st] March 2023

Notes
Income and endowments
From Donations and Legacies:
Membership
6
Gift Aid
From Charitable Activities:
Great British Bead Show / Beading Festival
Books and merchandise Sales
7
Journal advertising and sales
Workshops and sundry income
Art in Action & National beading week
Income from investments
Doubtful debts recovered
Total income and endowments
Expenditure
On Charitable Activities:
Great British Bead Show / Beading Festival
Book and other income production costs
Journal costs
8
Shows, exhibitions and workshops
Support costs
9
Total Expenditure
Net income
Net movement in funds
Total funds brought forward
Total funds carried forward		 2023
Unrestricted
£
72,046
5,402
6,762
6,127
6,203
7,401
1,813
1,162
1,980
108,896
6,607
4,001
48,016
6,569
28,492
93,685
15,211
15,211
194,879
210,090		 2022
Unrestricted
£
80,229
8,603
11,992
963
5,555
5,707
2,247
174
909
116,379
4,575
1,194
49,639
3,989
24,281
83,678
32,701
32,701
162,178
194,879

The charity only has unrestricted funds in the current and previous years and therefore no separate comparative Statement of Financial Activities is required.

All the charity’s activities are continuing.

The accompanying notes form part of the financial statements.

8

The Beadworkers Guild Year ended 31[st] March 2023 Balance Sheet

Company Number:6193041

Notes
Fixed Assets
2
Current Assets
Book stocks
Samples of beadwork
Debtors
3
Cash at bank and in hand
Current liabilities
Creditors and accruals
4
Deferred income
5
Net Current Assets
Net Assets
Funds
Unrestricted funds
10		 At 31st March 2023
£
£
7,548
37,487
2,038
3,217
227,957
270,699
13,511
54,646
68,157
202,542
210,090
210,090		 At 31st March 2023
£
£
7,548
37,487
2,038
3,217
227,957
270,699
13,511
54,646
68,157
202,542
210,090
210,090		 At 31st March 2022
£
£
4,614
24,690
2,038
4,034
218,849
249,611
4,166
55,180
59,346
190,265
194,879
194,879		 At 31st March 2022
£
£
4,614
24,690
2,038
4,034
218,849
249,611
4,166
55,180
59,346
190,265
194,879
194,879
270,699 249,611
13,511
54,646		 4,166
55,180
68,157 59,346
210,090 194,879
210,090 194,879

The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. The directors acknowledge their responsibility for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2023 and of its result for the year then ended in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements so far as applicable to the company.

The financial statements were approved and authorised for issue by the Board of the Trustees on 8 December 2023 and were signed below on its behalf by:

…………………………………. ………………………………………. M Carlton F Millard Trustee/Director Trustee/Director

The accompanying notes form part of the financial statements.

9

The Beadworkers Guild Year ended 31[st] March 2023

Notes to the Financial Statements

1 ACCOUNTING POLICIES

Basis of preparation

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have 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) (second edition effective 1[st] January 2019), the Charities Act 2011 and the Companies Act 2006. The financial statements have been prepared under historical cost convention.

Going concern

The trustees have considered the impact of the Covid-19 pandemic on the charity’s operations and on its ability to continue as a going concern. Due consideration has been given to assessing future income and expenditure including cash flow. Such an unprecedented occurrence makes it difficult to evaluate with reasonable certainty, its impact on the charity’s future activities. However, the trustees believe that the level of reserves will ensure the charity will be able to continue in operational existence for the foreseeable future. The financial statements have therefore been prepared on a going concern basis.

Depreciation and Tangible Fixed Assets

Tangible fixed assets are stated at cost less depreciation.

Depreciation is provided at rates calculated to write off the cost of fixed assets less their estimated residual value over their estimated useful lives on the following basis:

Display equipment 33.3% per annum straight-line on cost Computer and electronic equipment 25% per annum straight-line on cost Motor vehicle 20% per annum straight-line on cost

Stock

Book stocks are held at the lower of cost and net realisable value.

Income and Endowments

All income is recognised in the period to which it relates. This includes book sales and event and workshop income. In particular, the membership subscription year is co-terminus with the financial year and is included in the year to which it relates.

Expenditure

Expenditure is included in the financial statements on an accruals basis.

Charitable expenditure consists of all expenditure relating to the objects of the charity. All costs are directly attributable to the activities under which they have been analysed. Governance costs which form part of Support Costs include expenditure on strategic management and costs in connection with compliance with constitutional and statutory requirements.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Designated funds are unrestricted funds earmarked by the trustees for a specific project or event.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Pensions

The charity operates a defined Contribution Pension Scheme for its employees. The pension costs charged in the financial statements represent the contribution payable by the charity during the year.

10

The Beadworkers Guild Year ended 31[st] March 2023

Notes to the Financial Statements

1 ACCOUNTING POLICIES (continued)

Statement of cash flows

As a small charity, The Beadworkers Guild is exempt from the requirement to produce a Statement of Cash Flows.

2 Fixed Assets
COST
Balance as at 1stApril 2022
Additions
Disposals
Balance as at 31stMarch 2023
DEPRECIATION
Balance as at 1stApril 2022
Charge for the year
Disposals
Balance as at 31stMarch 2023
NET BOOK VALUE
At 31stMarch 2023
At 31stMarch 2022
3 Debtors
Trade debtors
Other debtors & prepayments
4 Creditors – falling due
within one year
VAT
Other creditors & accruals		 2023
£
-
3,217
3,217
2023
£
2,330
11,181
13,511		 Furniture &
Equipment
£
15,459
4,500
(7,804)
12,155
10,845
1,566
(7,804)
4,607
7,548
4,614
2022
£
1,021
3,013
4,034
2022
£
2,223
1,943
4,166		 Furniture &
Equipment
£
15,459
4,500
(7,804)
12,155
10,845
1,566
(7,804)
4,607
7,548
4,614
2022
£
1,021
3,013
4,034
2022
£
2,223
1,943
4,166
4,034
2022
£
2,223
1,943
4,166

11

The Beadworkers Guild Year ended 31[st] March 2023

Notes to the Financial Statements

5 Deferred income
Membership subscriptions
GBBS/Beading Festival
Journal advertising
Other
Movement in deferred income
Balance at start of period
Amounts added in the period
Amounts released in the period
Balance at end of period
6 Membership
UK members
Overseas members
7 Book and merchandise sales
Intro Books
Bracelets
Earrings
Necklaces
Beading Basics
Sugar Plum Fairy
Christmas Leaflet
Gifts Galore
Wonderful World of Beadwork
Art Deco
Floral
8 Journal costs
Staff costs
Articles
Printing and production
Postage
Editorial costs (incl. photography)
Advertising
Other costs including travel		 2023
£
33,757
17,223
3,426
240
54,646
£
55,180
54,646
(55,180)
54,646
2023
£
43,128
28,918
72,046
2023
£
117
15
20
18
11
200
123
119
240
5,070
194
6,127
2023
£
12,602
640
20,651
6,416
6,433
1,249
25
48,016		 2022
£
46,474
5,102
3,004
600
55,180
£
70,962
55,180
(70,962)
55,180
2022
£
51,739
28,490
80,229
2022
£
83
8
5
-
4
300
-
103
460
-
-
963
2022
£
11,658
1,460
22,582
6,655
6,125
1,045
114
49,639

12

The Beadworkers Guild Year ended 31[st] March 2023

Notes to the Financial Statements

9 Support costs
Administration Assistance
Payroll Bureau costs
Postage & delivery charges (net)
Stationery & supplies
IT and web
Travel expenses
Phone
Insurance
Publicity & Advertising
Bookkeeping
Bank and credit card charges
Depreciation
Governance costs
Miscellaneous		 2023
£
7,500
222
2,292
711
1,212
402
186
1,991
-
1,660
3,977
1,566
6,542
231
28,492		 2022
£
8,199
232
1,744
341
3,672
669
192
1,615
-
1,188
3,754
1,305
1,190
180
24,281

Included in Governance costs are the fees for the independent examination of the financial statements of £1,150 (2022: £1,150). The other expenses within Governance costs are the costs of hosting Committee meetings and legal fees.

10 Unrestricted funds
Retained funds brought forward
Net movement in funds
Retained funds carried forward		 2023
£
194,879
15,211
210,090		 2022
£
162,178
32,701
194,879

11 Trustees

None of the Trustees (or any persons connected with them) received any remuneration during the year for their time and work as Trustees (2022: £nil). 5 Trustees (2022: 5) received reimbursement of expenses of £5,388 (2022: £5,704). Tutor and workshop facilitation fees for non-trustee work of £1,335 (2022: £3,265) was paid to 5 Trustees (2022: 4).

12 Employees
Number of employees in the year
Charitable activities
Gross salaries
Employer’s National Insurance
Employer’s Pension		 2023
No.
2
£
19,917
-
185
20,102		 2022
No.
2
£
19,699
-
158
19,857

Due to the small size of the charity, a number of Trustees are involved in the management of the charity’s day-to-day activities for which they do not receive any remuneration.

13

The Beadworkers Guild Year ended 31[st] March 2023

Notes to the Financial Statements

13 Taxation

The charitable company is exempt from corporation tax on its charitable activities.

14 Comparatives

All funds in the current and prior year are unrestricted so the primary statements disclose comparatives.

14