Registered number 06685115
Charity number 1127804
THREE PILLARS TRUST
Report and Accounts
31 December 2020
THREE PILLARS TRUST Reference and administrative details 31 December 2020
Registered charity name
Three Pillars Trust
Principal address
39 Northumberland Street Salford M7 4DQ
Directors and trustees
D Z Hausman H S Lieberman M Levy
Auditor
H Davies FCCA Accounts & Business Solutions Ltd Chartered Certified Accountants and Regisitered Auditors 158 Cromwell Road Salford M6 6DE
Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
Registered office
158 Cromwell Road Salford M6 6DE
Registered number 06685115
Charity number 1127804
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THREE PILLARS TRUST Report of the Trustees for the period ended 31 December 2020
Co. number 06685115
The trustees who are also directors of the charity for the purpose of the Companies Act present their report and accounts for the year ended 31 December 2020.
Reference and administrative details
References and administrative details are shown in the schedule of trustees and professional advisers on page 1 of the accounts.
The trustees
The trustees who served the charity during the period were as follows:
D Z Hausman H S Lieberman M Levy
There is no executive officer nor any other staff employed in the charity. The day to day affairs are undertaken by Mr B Stern on behalf of the trustees.
All major decisions are taken collectively by the trustees and all the trustees give of their time freely.
Structure, governance and management
The charity is constituted as a company limited by guarantee and was incorporated on ist September 2008. It was registered as a charity on 30th January 2009. Itis governed by a Memorandum and Articles of Association.
Recruitment and appointment of new trustees is in line with the memorandum and articles of association and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
Risk review
The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and the finances of the Trust, and are satisfied that systems are in place to manage its exposure to the major risks.
Objectives and activities for the public benefit
The objects of the charity are the relief of poverty amongst persons in need and hardship in the local community, the advancement of education according to the beliefs and values of the orthodox Jewish faith and the advancement of the Jewish Orthodox religion.
The charity has established its grant making policy to achieve its objects for the public benefit. The charity invites applications for funding through contacting local philanthropists to contribute towards projects that both the trustees and the philanthropists feel are appropriate for the charity's objects as described below.
This support includes the promotion and advancement of educational and religious institutions throughout the world by providing funds to support the institutions’ educational programmes and research. The programmes cover all ages from nursery ages to adults.
The charity provides funding to relieve poverty of individuals and families who are unable to sustain themselves.
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THREE PILLARS TRUST Report of the Trustees for the period ended 31 December 2020
Co. number 06685115
This includes the provision of daily requirements such as food, clothing, social and health care and medical care.
The charity provides the funding either directly to those in need or to organisations who provide the support.
The trustees consider they have met the public benefit test and outline these achievements below.
Achievements and Performance
The charity received £1,730,830 in donations during the year and paid out £1,625,116 by way of support mainly to charitable institutions. The charity has low support and governance cosis comprising bank charges, sundry administrative and office costs. Support was awarded to institutions in the year in accordance with the charity's objectives and as detailed in the notes to the financial statements.
There were no material fundraising costs during the year.
There was an overall net incoming of resources during the year amounting to £88,629 (2019 - £106,354).
Financial review
The charity had a 4% increase in overall income. Direct charitable expenditure increased in line with the increase of income. Support and governance costs were in line with previous years. The trustees feel that the activity and surplus reflects the profile and standing within the local community. The impact for future year's expenditure is self evident and the trustees would like to record their appreciation for all the financial support received from benefactors during the course of the year.
Reserves policy
The Unrestricted Fund represents the unrestricted funds arising from past operating results. It is the policy of the charity to maintain its unrestricted funds at a level to cover six months overheads and to have sufficient funds to generally distribute funds in accordance with the wishes of the donors.
The Trustees are satisfied that the balance of the fund is an acceptable level of reserves given the nature of revenue receipts against grants payable.
Plans for future periods
The trustees plan to continue raising funds for projects in line with the trust deed and pursue those projects with all the resources available to the charity.
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THREE PILLARS TRUST Report of the Trustees for the period ended 31 December 2020
Co. number 06685115
Covid 19
The charity has donors who support the charity and income during the period has been in line with previous years. Distributions are only made based upon funds available. Support costs are minimal at less than 1% of income. The trustees expect this to continue in the foreseeable future. Covid 19 has not made any material impact of the charity's activity.
Auditors
A resolution to reappoint Accounts & Business Solutions Ltd as Auditors will be put to the members at the Annual General Meeting.
This report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Future Developments and Post Balance Sheet Events
The Charity Trustees expect to continue to expand its base of donors and increase its charitable activity in line with any increases in income. Subsequent to the year end the charity has continued to raise funds and disburse its income in line
Approval
This report was approved by the board of directors and trustees on 24th December 2021 and signed on its behalf by. a . i a
H S Lieberman Trustee
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THREE PILLARS TRUST Statement of Director/trusteess' Responsibilities
Directors'/Trustees’ responsibilities statement
The trustees, who are also directors 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 charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
In preparing these financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Three Pillars Trust Company Limited by Guaraniee independent Auditor's Report to the Members of Three Pillars Trust Year ended 31 December 2020
Opinion
| have audited the financial statements of Three Pillars Trust (the 'charity') for the year ended 31 December 2020 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In my opinion the financial statements:
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° give a true and fair view of the state of the charity's affairs as at 31 December 2020 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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° have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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e have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
| conducted my audit in accordance with international Standards on Auditing (UK) (ISAs (UK)) and applicable law. My responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of my report. | am independent of the charity in accordance with the ethical requirements that are relevant to my audit of the financial statements in the UK, including the FRC’s Ethical Standard, and | have fulfilled my other ethical responsibilities in accordance with these requirements. | believe that the audit evidence | have obtained is sufficient and appropriate to provide a basis for my opinion.
Conclusions relating to going concern
| have nothing to report in respect of the following matters in relation to which the ISAs (UK) require me to report to you where:
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® the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
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° the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
«6x
Three Pillars Trust
Company Limited by Guararitee
Independent Auditor's Report to the Members of Three Pillars Trust (continued)
Year ended 30 December 2020
Other information
The other information comprises the information included in the annual report, other than the financial statements and my auditor’s report thereon. The trustees are responsible for the other information. My opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in my report. | do not express any form of assurance conclusion thereon.
In connection with my audit of the financial statements, my responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or my knowledge obtained in the audit or otherwise appears to be materially misstated. If | identify such material inconsistencies or apparent material misstatements. | am required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work | have performed, | conclude that there is a material misstatement of this other information, | am required to report that fact.
| have nothing to report in this regard.
Matters on which i am required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, | have not identified material misstatements in the trustees’ report.
| have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires me to report to you if, in my opinion:
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® the information given in the trustees’ report is inconsistent in any material respect with the financial statements; or
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e adequate accounting records have not been kept; or
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e the financial statements are not in agreement with the accounting records and returns; or
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e | have not received ail the information and explanations | require for my audit.
Responsibilities of trustees
As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
aa
Three Pillars Trust Company Limited by Guarantee Independent Auditor's Report io the Members of Three Pillars Trust (continue) Year ended 30 December 2020 eee ne ca ek Oe ite al lI ew twee Dire
Auditor's responsibilities for the audit of the financial statements
My objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes my opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with ISAs (UK), | exercise professional judgment and maintain professional scepticism throughout the audit. | also:
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° Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for my opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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e Obtain an understanding of internal contro! relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
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° Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
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® Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If | conclude that a material uncertainty exists, | am required to draw attention in my auditor's report to the reiated disclosures in the financial statements or, if such disclosures are inadequate, to modify my opinion. My conclusions are based on the audit evidence obtained up to the date of my auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern.
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° Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
~6-
Three Pillars Trust
Company Limited by Guaraniee
Independent Auditor's Report to the Members of Three Pillars Trust (continuea)
Year ended 30 December 2020
| communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that | identify during my audit.
Use of my report
This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. My audit work has been undertaken so that | might state to the charity's members those matters | am required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for my audit work, for this report, or for the opinions | have formed.
Mr H Davies FCCA
Accounts & Business Solutions Limited Chartered Certified Accountants & statutory auditor 158 Cromwell Road
Salford M6 6DE
24 December 202%
Accounts & Business Solutions Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
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THREE PILLARS TRUST
Statement of Financial Activities
for the year ended 31 December 2020
| Notes | 2020 | 2019 | |
|---|---|---|---|
| £ | £ | ||
| Incoming resources Donations Interest received |
7 | 1,730,830 202 |
1,662,388 439 |
| Total incoming resources | 4,731,032. | 1,662,827 | |
| Resources Expended Direct charitable expenditure |
9 | (1,639,203) | (1,553,273) |
| Governance Costs | 10 | (3,200) | (3,200) |
| Total expenditure | d642,403) | ~ (1,556,473) | |
| Netincomefortheyear | 6 | 88629 | —106,354 |
| Total funds: | |||
| Brought forward | 6 | 453,545 | 347,191 |
| Carriedforward | 6 | 542,174 | 453,545 |
There were no recognised gains and losses other than as stated in the SOFA.
The attached notes form an integral part of these financial statements
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THREE PILLARS TRUST
Co. number 06685115
----- Start of picture text -----
Balance Sheet
as at 31 December 2020
Notes 2020 2019
£ £
Fixed assets
Tangible assets 3 1,388 1,988
Current assets
Debtors 4 10,485 3,002
Cash at bank and in hand 534,004 452,183
544,489 455,185
Creditors: amounts falling due
within one year 5 (3,703) (3,628)
Net current assets 540,786 451,557
Net assets 542,174 453,545
Funds
Unrestricted funds 6 542,174 453,545
Net assets 542,174 453,545
----- End of picture text -----
as at 31 December 2020
The charity's financial statements have been prepared in acordance with the provisions applicable to companies subject to the small companies regime.
The trustees consider that the charity is entitled to exemption from the requirement to have an audit under the provisions of section 447 of the Companies Act 2006 ("the act") and members have not required the charity to obtain an audit for the year in question in accordance with section 467 of the Act, However, an audit is required in accordance with section 144 of the Charities Act 2017.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The financial statements were approved and authorised for issue by the trustees on 24 December 2021 and signed on their behalf,
ALMA TILL
H S Lieberman Director Approved by the board on 24 December 2021
The attached notes form an integral part of these financial statements
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THREE PILLARS TRUST Cash Flow Statement for the year ended 31 December 2020
| Cash Flow Statement for the year endedended 31 December 2020 |
|||
|---|---|---|---|
| 2020 | 2019 | ||
| £ | £ | ||
| Cash generated from operations Operating surplus |
88,629 | 106,354 | |
| Reconciliation to cash generated from operations: Depreciation Increase in debtors Increase in creditors |
600 (7,483) 7 81,821 |
(660) (16,154) iB 89,548 |
|
| Net increase in cash | 81,821 | 89,548 | |
| Cash at bank and in hand less overdrafts at | 1 January | 452,183 | 362,635 |
| Cash at bank and in hand less overdrafts | at 31 December | 534,004 | 452,183 |
| Consisting of: Cashatbankandinhand |
534,004 | 452,183 |
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THREE PILLARS TRUST Notes to the Accounts for the year ended 31 December 2020
1 Accounting policies
Basis of preparation . . The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable inthe UK and Republic of Ireland (FRS 102) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies act 2006.
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 158 Cromwell Road Salford M6 6DE.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fair value
Debtors and creditors are stated at fair value.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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THREE PILLARS TRUST Notes to the Accounts for the year ended 31 December 2020
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources Expended
All expenditure other than that capitalised has been reflected in the Statement of Financial Activities on an accruals basis.
Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Charitable expenditure includes those costs incurred by the charity in the delivery of its activities and services 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.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the Independent Auditors or Examiners fees and costs management of the charity.
There were no material fundraising costs during the year.
Taxation
The organisation is exempt from income tax by reason of its charitable status. Income tax suffered on investment income is reclaimed in full. The organisation is not registered for value added tax.
Reserves
The company has no restricted or endowment funds.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery
20% straight line
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
Tangible assets
All fixed assets are initially recorded at cost.
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THREE PILLARS TRUST Notes to the Accounts for the year ended 31 December 2020
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Financial instruments (continued)
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet asa liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
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THREE PILLARS TRUST
Notes to the Accounts
| for | the year ended 31 December 2020 | ||
|---|---|---|---|
| 2 | Operating surplus | 2020 £ |
2019 £ |
| This is stated after charging: | |||
| Audit fees | 3,200 | 3,200 | |
| Depreciation ofowned fixed assets | 600 | _————CéiBD | |
| 3 | Tangibie fixed assets | Plantand | |
| machinery | |||
| etc | |||
| £ | |||
| Cost | |||
| At 1 January2020 | ____6,609 | ||
| At 31 December 2020 | 6,609 | ||
| Depreciation At 1 January 2020 |
4,621 | ||
| Charge for the year | ____ 600 | ||
| At 31 December 2020 | 5,221 | ||
| Net book value | |||
| At 31 December 2020 | 1,388 | ||
| At 31 December 2019 | 1,988 | ||
| 4 | Debtors | 2020 | 2019 |
| £ | £ | ||
| Other debtors | 10,485 | 3,002 | |
| 5 | Creditors: amounts falling duewithin one year | 2020 | 2019 |
| £ | £ | ||
| Other creditors | 3,703 | 3,628 | |
| 6 | Funds | 2020 | 2019 |
| Unrestricted funds: | £ | £ | |
| At 1 January2020 | 453,545 | 347,191 | |
| Surplus for the year | 88,629 | 106,354 | |
| At 31 December 2020 | 542.174 | 453,545 | |
| Thecompanyhasnorestrictedorendowmentfunds. |
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THREE PILLARS TRUST
Notes to the Accounts for the year ended 31 December 2020
| 7 | Voluntary income | 2020 | 2019 |
|---|---|---|---|
| £ | £ | ||
| Donations received | 1,730,830 | 1,662,388 | |
| 1,730,830 | 1,662,388 | ||
| 8 | Costsofcharitable activitiesbycosttype | 2020 | 2019 |
| £ | £ | ||
| Relief of poverty Educational donations Religious servicesand supportdonations Social and Health |
413,888 693,742 381,406 136,080 |
742,356 568,448 100,172 131,109 |
|
| 1,625,116 | 1,542,085 | ||
| 9 | Direct charitable expenditure | ||
| 2020 | 2019 | ||
| £ | £ | ||
| Donations made Support costs (note11) |
1,625,116 14,087 |
1,542,085 11,188 |
|
| 4,639,208 | ‘1,553,273 | ||
| 10 | Governance costs | ||
| 2020 | 2019 | ||
| £ | £ | ||
| Audit fee | 3,200 | 3,200 | |
| 3.200 | ———3, 200 |
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THREE PILLARS TRUST
Notes to the Accounts
for the year ended 31 December 2020
| 11 | Support Costs | Total | Total |
|---|---|---|---|
| 2020 | 2019 | ||
| £ | £ | ||
| Stationery, printing and computer expenses Administration fees Repairs and maintenance Bank charges Depreciation |
4,595 8,082 795 15 600 14087, |
3,615 6,648 - 265 660 ___—*11,188 |
12 Trustees’ Remuneration and expenses
No remuneration, directly or indirectly out of the funds of the charity, was paid or payable, to any trustee or to any persons known to be connected with any of them. No reimbursement of expenses has been made, or is due to be made, to any of the trustees in respect of the period.
13 Other information
THREE PILLARS TRUST is a company limited by guarantee and incorporated in England. Its registered office is:
158 Cromwell Road Salford M6 6DE
14 Analysis of net assets between funds
| Analysis of net assets between funds | ||
|---|---|---|
| Unrestricted | Unrestricted | |
| and total | and total | |
| Funds 2020 | Funds 2019 | |
| Tangible fixed assets Current assets |
1,388 544,489 |
1,988 455,185 |
| Creditors less than 1 year | (3,703) | (3,628) |
| Netassets | 542,174 | 453,545 |
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