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2021-12-31-accounts

MYSTICAL ROSE ( A Company Limited by Guarantee)

TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

REGISTERED COMPANY NUMBER: 06677290 REGISTERED CHARITY NUMBER: 1127579

MYSTICAL ROSE

REPORT AND FINANCIAL STATEMENTS YEAR TO 31 DECEMBER 2021

Contents

Charity Information
Trustees’ Report
Report of the Independent Examiner
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements		 Page
1
2
7
8
9
10

MYSTICAL ROSE

CHARITY INFORMATION

Trustees:

Mr G T Stephens Mrs J Boswell Rev P Deegan Mr B Gardner Mrs E B Gonzalez Mr S J Leigh Mr T Saul Mrs J M Stephens Dr J A McKay

resigned 1 January 2021

Company registered number 06677290

Charity registered number: 1127579

Registered office: Broad House 1 The Broadway Old Hatfield Hertfordshire AL9 5BG

Company secretary: Mrs J M Stephens

Independent Examiner Peter McKay BSc FCA Jones Hunt & Keelings Chartered Certified Accountants and Chartered Tax Advisers Broad House 1 The Broadway Old Hatfield Hertfordshire AL9 5BG

Page 1

MYSTICAL ROSE

CHARITY NUMBER: 1127579

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees (who are also directors of the charity for the purposes of the Companies Act 2006) present their annual report together with the financial statements of Mystical Rose (the charity) for the year ended 31 December 2021. In preparing this report and these accounts, the trustees have adopted the provisions of the Statement of Recommended Practice: Accounting and Reporting by Charities (‘the Charities SORP (FRS102)’) effective 1 January 2019, the special provisions of Part 15 of the Companies Act 2006 relating to small companies, applicable UK accounting standards and the Charities Act 2011. The directors and company secretary are listed on page 1.

As well as Mystical Rose, the charity operates under the name of ‘Word & Spirit Ministries’.

OBJECTIVES AND PRINCIPAL ACTIVITIES

The purpose of the charity is to preach and teach the gospel of Christ and to evangelise members of the Christian faith and others according to the doctrine of the Roman Catholic Church.

In furtherance of this, the charity's activities are:

CHARITY ORGANISATION, STRUCTURE, GOVERNANCE AND MANAGEMENT

Mystical Rose is registered as a charitable company limited by guarantee and is governed by its Memorandum and Articles of Association dated 20 August 2008. It is registered as a charity with the Charity Commission.

The policy of the charity is determined by the Trustees, who meet regularly as a Board. Trustees are appointed in accordance with the provisions of the Articles of Association and receive no remuneration for their services. The Trustees determine their number, as they consider necessary, although this may not be less than three. If the Trustees consider a vacancy should be filled, they will decide whether specific skills are required to ensure an appropriate balance on the Board. The Trustees use their best endeavors to recruit new trustees.

In addition to the financial and legal documents for the charity, all new Trustees are provided with the guidance available from the Charity Commission on the role of Trustees and are encouraged to be alert to issues that might affect the charity.

TRUSTEES’ CORONAVIRUS IMPACT REPORT

The Trustees of Mystical Rose consider that the impact of Covid-19 upon the Charity is as follows:

Annual General Meeting (‘AGM’)

The AGM took place on the 28 September 2021 at Our Lady’s Presbytery, Raby Street, Moss Side, Manchester. The next AGM is scheduled for autumn 2022.

Page 2

MYSTICAL ROSE

CHARITY NUMBER: 1127579

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021 (CONTINUED)

TRUSTEES’ CORONAVIRUS IMPACT REPORT (CONTINUED)

Effects on the Charity

Due to Government restrictions in response to the coronavirus, the demand for the charity’s services continued to be affected throughout 2021. Towards the end of 2021 and the beginning of 2022, demand for the charity’s services has been slowly increasing and is, at the time of writing, back to pre-pandemic levels. Since the year-end, the charity is once again delivering catechesis and evangelisation at Catholic churches, regional and national conferences and, as a consequence, charity income is beginning to improve. This improvement will be monitored regularly by the Trustees.

Government Financial Support for Charities

Employees of the charity continued to be furloughed under the Government’s Coronavirus Job Retention Scheme until September 2021.

Staff and Volunteers

As mentioned in the previous paragraph, employees of the charity were furloughed until September 2021, after which employment continued while the Trustees sought ways of generating donations and income.

Since September 2021, the charity continued to seek donations from benefactors. As a result, two main benefactors have provided substantial donations that are expected to enable the charity to meet its objectives until at least the first quarter of 2023. In addition, the Trustees are confident that the charity will continue in the foreseeable future because the main benefactors have indicated continued support.

The charity does not rely on or have any volunteers.

Using reserves and restricted funds

‘On the road’ revenue is now improving. The charity will continue to seek other sources of income from other benefactors throughout 2022 and into 2023. Charity staff will also try to raise the profile of charitable giving and tithing for Catholics. It is hoped that the charity will produce video appeals on ‘Tithing for Catholics’ and release these during 2022.

The Trustees are carefully monitoring the charity’s cash flow and have agreed that they will only purchase essential items using its reserves. The impact on the charity’s reserves policy, and the level of reserves, are being monitored by the Trustees.

The charity does not have any restricted funds.

Impact on the Charity’s Objects

The charity’s objects are now being fulfilled.

Managing Financial Difficulties

The Trustees do not anticipate financial difficulties in the foreseeable future; however, in the event that they do occur, the Trustees will work closely with other charitable bodies with a view to taking action in the best interest of the charity. Currently there are no plans to close the charity but, if it becomes financially unsustainable, then the charity will be formally closed.

Page 3

CHARITY NUMBER: 1127579

MYSTICAL ROSE

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021 (CONTINUED)

TRUSTEES’ CORONAVIRUS IMPACT REPORT (CONTINUED)

Charity Orderly Closure Plan

In the unlikely event that the charity becomes financially unsustainable, the charity’s governing document, specifically clauses 7 and 8, may be enacted to effect an orderly close-down or dissolution of the charity.

REVIEW OF ACTIVITIES

Throughout 2021 and as part of ‘charities working together’, the charity has continued working closely with the Community of Christ Prince of Peace (‘Prince of Peace’), a registered charity under number 1002998.

For the greater common good, Mr Stephens volunteered with Prince of Peace throughout 2021. During this time, he project managed the delivery of the Virtual New Dawn Conference in Walsingham.

Until September 2021, employees of the charity were furloughed. When government guidelines allowed, Mr. Stephens continued to volunteer for charities, including Prince of Peace. Since September 2021, when the furlough scheme ended, employees have been working on the delivery of charity’s objectives and services.

Throughout 2021, trustees of the charity have maintained office administration and accounting records, including payroll, COVID-19 Job Retention Scheme claims, gift aid records, monthly accounting spreadsheets and financial records.

FINANCIAL REVIEW, RISK MANAGEMENT AND RESERVES

Donation income in the year, including gift aid tax recoverable, amounted to £15,422 (2020: £22,889), a fall of £7,467. The charity also received £23,617 (2020: £27,373) under the Government’s Job Retention Scheme, together with the employment allowance of £4,044 (2020: £3,145). The charity’s expenditure fell by £2,840, to £52,458 (2020: £49,618), resulting in a deficit for the year of £9,675 (2020: surplus £3,789).

At the year-end, the charity had unrestricted reserves of £6,780 (2020: £16,455).

It is the Trustees’ intention that sufficient uncommitted funds should be held to meet three months’ expenditure, which would equate to approximately £12,000. Reserves are that part of a charity’s unrestricted funds that is freely available to spend on any of the charity’s purposes. On this basis, there was a shortfall in the charity’s reserves at the year-end. However, the Trustees have sought further funding after the year-end and they consider this policy is reasonable and the position, hopefully, will be remedied in the forthcoming year.

FUTURE DEVELOPMENTS

As the charity has now experienced a resurgence in service demand, its objectives will be developed in the year ahead. As part of ‘charities working together’, the charity will continue working closely with Prince of Peace for the greater common good. Future developments will also include working with the Men of Saint Joseph, the national Rosary Rallies and HM Prison ministries.

Page 4

MYSTICAL ROSE

CHARITY NUMBER: 1127579

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021 (CONTINUED)

FUTURE DEVELOPMENTS (CONTINUED)

Furthermore, future developments include:

PUBLIC BENEFIT STATEMENT

The Trustees confirm that they have complied with the duty, under the Charities Act 2011, to have given due regard to the Charity Commission's general guidance on public benefit, "Charities and Public Benefit". The Trustees ensure that this purpose is met for the public benefit by delivering services that are valued, and open to all without charge, thanks to the kind support of our donors.

RELATIONSHIPS WITH OTHER CHARITIES

The charity works closely with other charities with similar objectives. One of those charities is the Prince of Peace; Mr G Stephens, Mrs JM Stephens and Rev P Deegan are trustees of both charities.

RISK STATEMENT

The Trustees are actively involved in the day-to-day running of the charity. They have assessed the major risks to which the charity is exposed and have satisfied themselves that systems have been established, or that other appropriate measures have been taken, to mitigate those risks, insofar as is reasonably practicable, but it is recognised that systems cannot give absolute assurance that risks have been eliminated. Procedures are in place to monitor risks associated with handling cash, safeguarding young people and matters associated with GDPR. The Trustees continue to keep the charity’s activities under review, including consideration of any major risks that might be present from time to time.

TRUSTEES' RESPONSIBILITIES STATEMENT

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable laws and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they 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.

Page 5

MYSTICAL ROSE

CHARITY NUMBER: 1127579

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021 (CONTINUED)

TRUSTEES' RESPONSIBILITIES STATEMENT (CONTINUED)

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time 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.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

This report was approved by the Trustees on 20 September 2022 and signed on their behalf by:

G Stevens - Trustee

Page 6

Independent Examiner's Report to the Trustees of Mystical Rose

I report to the charity's trustees on my examination of the accounts of the company for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity's trustees of the company (and also the directors of the company 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 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 all the applicable 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 material matters have come to my attention in connection with the examination which gives me cause to believe that:

  1. accounting records were not kept in accordance with section 386 of the 2006 Act; or 2. the accounts do not accord with such records; or

  2. the accounts do not comply with relevant 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

  3. the accounts have not been prepared in accordance with the Charities SORP (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.

PJ McKay BSc FCA Jones Hunt & Keelings Chartered Certified Accountants and Chartered Tax Advisers Broad House 1 The Broadway Old Hatfield Hertfordshire AL9 5BG

20 September 2022

Page 7

MYSTICAL ROSE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Income and Endowments from:
Donations
2
Other
3
Total
Expenditure on:
Charitable Activities
Other costs
Total
4
Net (expenditure)/income
5
Reconciliation of funds:
Total funds brought forward
13
Total funds carried forward
13
Notes		 Unrestricted
Total
Funds
Funds
2021
2021
£
£
15,422 15,422
27,661 27,661
43,083 43,083
51,458 51,458
1,300 1,300
52,758 52,758
(9,675)
(9,675)
16,455 16,455
6,780 6,780		 Total
Funds
2020
£
22,889
30,518
53,407
48,618
1,000
49,618
3,789
12,666
16,455

The notes on pages 10 to 14 form an integral part of these accounts.

Page 8

MYSTICAL ROSE

BALANCE SHEET AS AT 31 DECEMBER 2021

Notes
Fixed assets
Tangible assets
10
Current assets
Debtor
11
Cash at bank and in hand
Creditors due within one
Creditors
12
Net current assets
Net assets
Funds:
Unrestricted funds
13
Total funds		 £
£
208
2,734
5,315
8,049
1,477
6,572
6,780
6,780
6,780
2021		 £
£
477
7,348
9,319
16,667
689
15,978
16,455
16,455
16,455
2020		 £
£
477
7,348
9,319
16,667
689
15,978
16,455
16,455
16,455
2020
16,455
16,455
16,455

The Trustees consider that the charity is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 and members have not required the charity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibilities for:

a) ensuring that the charity keeps accounting records which comply with sections 386 and 387 of the Companies Act 2006; and

b) preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of each financial year and of its income and expenditure for each financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements, so far as applicable to the charity.

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The financial statements were approved by the Trustees and authorised for issue on 20 September 2022 and were signed on their behalf by:

Mr G T Stephens - Trustee

The notes on pages 10 to 14 form an integral part of these accounts.

Page 9

MYSTICAL ROSE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (Charities SORP (FRS 102) effective 1 January 2019, applicable UK Accounting Standards, the Charities Act 2011 and the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Mystical Rose meets the definition of a public benefit entity under FRS 102.

The presentation currency of the financial statements is the Pound Sterling (£).

1.2 Company status

The charity is a company limited by guarantee, registered in England and Wales. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, every member of the company undertakes to contribute such amounts as may be required (not exceeding £10 per member) to the assets of the charity.

1.3 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are those funds that can only be used for the purposes specified by the

d 1.4 Income

Income is included within the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. No amounts are included in the financial statements for the services donated by volunteers. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5 Expenditure

Expenditure is recognised on an accruals basis as the liability is incurred. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Other costs are those incurred in compliance with the constitutional and statutory requirements of the charity.

1.6 Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives, as follows:

Computer equipment 25% per annum on a straight line basis.

Office equipment 25% per annum on a straight line basis.

1.7 Donated services

Services provided without charge are included has been included as income and expenditure in these accounts in respect of this item.

1.8 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Page 10

MYSTICAL ROSE

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES (continued)

1.9 Measurement of financial instruments

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.The charity's financial assets and liabilities all qualify as basic financial instruments that are initially recognised at transaction value.

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, which include debtors, 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. Finanacial assets classifed as receivable within one year are not amortised.

1.10 Going concern

The accounts have been pepared on a going concern basis as the Trustees believe that the charity will continue for at least the next twelve months.

1.11 Government grants

Government grants, including those in respect of furloughed employees, are accounted for on an accruals basis and, as such, are credited in the same period as the costs to which the grants relate are charged to the SOFA.

1.12 Significant judgements and estimates

Estimates and judgements are periodically evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. The Trustees do not consider that there are any significant estimates and judgements this year.

2. INCOME FROM DONATIONS

Donations
Gift Aid recoverable
3.
OTHER INCOME
Employment allowance
Job Retention Scheme Grants		 2021
£
12,790
2,632
15,422
2021
£
4,044
23,617
27,661		 2020
£
18,464
4,425
22,889
2020
£
3,145
27,373
30,518

Page 11

MYSTICAL ROSE

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2021

4.
EXPENDITURE
Charitable activities:
Administrative expenses
Travel and subsistence
Wages and Salaries
Social security
Donations made
Depreciation
Other costs - governance costs
Total expenditure
5.
NET (EXPENDITURE)/INCOME
This is stated after charging:
- Depreciation of tangible fixed assets owned by the Charity
- Independent examiner’s fee		 2021
£
345
-
46,800
4,044
-
269
51,458
1,300
52,758
2021
£
269
1,300		 2020
£
1,166
1,140
42,300
3,432
329
251
48,618
1,000
49,618
2020
£
251
1,000

6. DONATED SERVICES

The charity’s Independent Examiner has provided his services for a nominal fee of £300 (2020: £nil). An additional sum of £1,000 (2020: £1,000) has been included as income and expenditure in these accounts in respect of this item.

7. STAFF COSTS

STAFF COSTS
Staff costs were as follows:
Wages and Salaries
Social security		 2021
£
46,800
4,044
50,844		 2020
£
42,300
3,432
45,732

The average number of employees during the year was 2 (2020: 2).

No employee received remuneration amounting to more than £60,000 in either year.

Key management personnel are considered to be the trustees.

Page 12

MYSTICAL ROSE

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2021

8. TRUSTEES' REMUNERATION AND REIMBURSED EXPENSES

During the year, remuneration of £33,600 (2020: £33,600) was paid to Mr G Stephens, a director and trustee, and £13,200 (2020: £8,700) was paid to Mrs J Stephens, company secretary and trustee. The remuneration was paid in accordance with the provisions of the company's Memorandum and Articles of the Association, being the governing document of the charity, and was authorised by the other directors and trustees in recognition of the services supplied to the charity by Mr G Stephens and Mrs J Stephens, as an evangelist and main administrator, respectively, and was not in respect of their roles as directors and trustees.

9. TAXATION

Mystical Rose is a registered charity and therefore is not liable to taxation on income or gains derived from its charitable activities.

10. TANGIBLE FIXED ASSETS

Cost
At 1 January 2021 and at 31 December 2021
Depreciation
At 1 January 2021 and at 31 December 2021
Charge for the year
At 31 December 2021
Net Book value
At 31 December 2021
At 31 December 2020
11. DEBTORS
Gift aid tax recoverable
Job Retention Scheme Grant receivable		 Computer
Equipment
£
673
447
168
615
58
226		 Office
Equipment
£
402
151
101
252
150
251
2021
£
2,734
-
2,734		 Total
£
1,075
598
269
867
208
477
2020
£
4,528
2,820
7,348

Page 13

MYSTICAL ROSE

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2021

12.
CREDITORS
2021
£
Social security and other taxes
1,177
Accruals
300
1,477
13.
STATEMENT OF FUNDS - Current year
Brought
forward
Income
Expenditure
£
£
£
Unrestricted funds -
General funds
16,455
43,083
(52,758)
STATEMENT OF FUNDS - Prior year
Brought
forward
Income
Expenditure
£
£
£
Unrestricted funds -
General funds
12,666
53,407
(49,618)
14.
ANALYSIS OF NET ASSETS BY FUND
Unrestricted
Restricted
Funds
Funds
£
£
Fixed Assets
208
-
Current Assets
8,049
-
Current Liabilities
(1,477)
-
Total net assets at 31 December 2021
6,780
-		 12.
CREDITORS
2021
£
Social security and other taxes
1,177
Accruals
300
1,477
13.
STATEMENT OF FUNDS - Current year
Brought
forward
Income
Expenditure
£
£
£
Unrestricted funds -
General funds
16,455
43,083
(52,758)
STATEMENT OF FUNDS - Prior year
Brought
forward
Income
Expenditure
£
£
£
Unrestricted funds -
General funds
12,666
53,407
(49,618)
14.
ANALYSIS OF NET ASSETS BY FUND
Unrestricted
Restricted
Funds
Funds
£
£
Fixed Assets
208
-
Current Assets
8,049
-
Current Liabilities
(1,477)
-
Total net assets at 31 December 2021
6,780
-		 12.
CREDITORS
2021
£
Social security and other taxes
1,177
Accruals
300
1,477
13.
STATEMENT OF FUNDS - Current year
Brought
forward
Income
Expenditure
£
£
£
Unrestricted funds -
General funds
16,455
43,083
(52,758)
STATEMENT OF FUNDS - Prior year
Brought
forward
Income
Expenditure
£
£
£
Unrestricted funds -
General funds
12,666
53,407
(49,618)
14.
ANALYSIS OF NET ASSETS BY FUND
Unrestricted
Restricted
Funds
Funds
£
£
Fixed Assets
208
-
Current Assets
8,049
-
Current Liabilities
(1,477)
-
Total net assets at 31 December 2021
6,780
-		 2020
£
689
-
689
Carried
Forward
£
6,780
Carried
Forward
£
16,455
2021
Total
£
208
8,049
(1,477)
6,780 - 6,780

15. LIABILITY OF MEMBERS

The charity is constituted as a company limited by guarantee and has no share capital. The members’ liability is limited to £10 each.

16. RELATED PARTY TRANSACTIONS

During the year, the charity received donations amounting to £5,120 (2020: £10,330) from two (2020: one) of its trustees.

Page 14