Charity number: 1130900 The Parochial Church Council Of The Ecclesiastical Parish Of Hope Church Islington Trustees, report and financial statements for the year ended 31 December 2023
The ParoGhial Chur¢h Council Of The Ecclesiastical Parlsh Of Hop¢ Church Islington Contents Page Reference and admlnlstrative detail$ of the Charityj it5 Trustees and advisers Trustees, report Independent examiner's report Statoment of finan¢ial a¢tivÉtles Balancg sheet Notes to the financial statements 8-18
The Parochial Church Councll Of The Eccleslastlcal Parlsh Of Hope Church Islington Rofemnce and admlnlstrative details of the Charlty, Its Trustees and advisers for the year ended 31 December 2023 Trustees J Denniss R Chambers {resigned 13 May 2024} P Quail K Buraimoh S Moss (resigned 13 May 20241 Rev M Way (resigned 13 May 2024) S Bull J Booth lappointed 13 May 20241 P Grayham V Myers lappointedl R Heacock lappoinledl F Chukwu lappoinled 13 May 20241 Charity registered number 1130900 Principal office St Mary Magdalene Church Holloway Road London N7 8LT Accountants Accountability Europe Ltd Chartered Accountants Omnibus Workspace 3941 North Road London N7 9DP Page 1
The Paro¢hial Church Council Of The Ecclesiastical Parish Of Hopè Church Isllngton Trustees. report for the year ended 31 Deeembèr 2023 The Tnjstees present Iheii annual report together with the financial statements of the Charity for the 1 January 2023 to 31 December 2023. Objectives and activitles a. Policies and objectives The parish's object is to build communities that grow followers of Jesus by gathering for weekly worship services. running various èvents and facilitating regular meetings for the community with special focus on children and young people as well as raising funds lo a55iSt worthy community piojects and engaging with issues of poverty and inequality. particularly in the local area. The PCC rr¢embers have paid due regard to guidance issued by the Charity Commission in deciding what activities the parish should undertake. In selting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to publie benefit, including the guidance 'Public benefit." running a charity IP821'. b. Volunteers The Parish is dependent on volunteers for several aspects ol its ministry, some of which would be severely urtailed if volunteers were not available. For example, volunteers are key for the running of Sunday school, holiday events, night shelter, various courses and other a¢tivilies. Volunteers are eslimaled lo provide the equivalent of 25 pefson-hours per week. Achlevements and performance Financial review . Going ¢on¢ern After making appropriate enquirie5. the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in operational existence for the foreseeable future. For this reason, they continue lo adopt the going ¢oneern basis in preparing the financial statements. Further details regarding the adoption of the 90ing Concern basis can be found in ltte accounting policies. b. Reserves policy It is the policy of the parish that free unrestricted funds which have not been designated for a specific use should be maintained at or above a level of £50,000, which has increased from £25,000 in previous years. The PCC members considers that reserves al this level are sufficient as the charity re¢eives income through tWD main streams, rental income 2nd donations, which are received monthly from numefOUS properties and many individuals respeeb"vely. Therefore if income ceased temporarily from a propety or an individual slopped a standing order, Il wouldn't have a significant impact on the income of the charity- At the year end. the charity free reseryes are greater than £50,000. c. Summary The PCC membgrs consider that the performance of the parish has been satisfactory. rotal income for the year as shown on page 6 was £312,081 {2022.- £488,159. which included a one off donation of £220,920) Total expenditure was £348,376 12022.. £298.5211 and total fund reserves at 31 Dernber 2023 were £2,361,24312022.. £2,397,538}. Page 2
The Parochial Church Councll Of The Eccleslastlcal Parfsh Of Hope Church Islington Trustees, report Icontinuedl for the year ended 31 December 2023 d. Principal risks and uncertainlles The PCC members have a duty to identify and review the risks to which the charity is exposed and to ensure ppropriate controls are in place to provide reasonable assurance against fraud and error, the safety and well being of children and vulnerable adults. The PCC members have policies covering safeguarding of Children and vulnerable adults in line with the requirements of the Diocese of London. child abuse and inappropriate behaviour of church employees and volunteers. Structure, governance and management a. Constltutlon The Parochial Church Council Of The Ecclesiastical Parish Of St Mary Magdalene & St David, Holloway is a body established by the Church of England. It operates undei the Parochial Church Council (Powers) Measure 1956 las amended) and the Church Representation Rules. The Parochial Church Council Of The Ecclesiastical Parish Of St Mary Magdalene & Sl David, Holloway 15 also a registered charity, operating under the requiremenls of The Charities A¢1 2011. b. M¢thod$ of appolntment or election of Trustees New PCC members are elected at the annual parochial church meeting. The incumbent is inducted by the Bishop and installed by the Archdeacon. Churchwardens are elected al the annual parish meeting. c. Policies adopted for the induction and tralnlng of Trustees Ar¢y training required is very basic. The parish does not therefofe consider il necessary to have any formal induction or training programme in pla. PCC members are made aware of the handbook for churchwarden and the parish church councilors of the Canons of the Church of England Ikepl on site) and of SafUrdin9 policy and DBS qUIreMents. d. Related party relatlonshlps The parish has a relationship with The Urban Revival Foundation, a company limited by guarantee and under the ontrol of four of the PCC members. The company was established for charitable purposes aiming to work in conjunction with the parish lo promote community cohesion and other social activities. The eompany is currently seeking registration as a charity with the Charities CoMmissfi and HM Revenue and Customs. Page 3
The Parochial Church Council Of The Eeclesiastical Parish Of Hope Church Islington Tru$tee$' report {continuedl for the year ended 31 December 2023 Statement of Trustees. responsibillties The Trustees are iesponsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Krngdom Generally A¢¢epled Accounting Practice). The law applicable to Charits'es in Eng18nd & Wales requires the Trustees to prepare financial statemen15 for each financial which give a true and fair view of the slate of affairs of the Charity and of ils incoming resources and application of resoLtrr¢es, including its 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 prin¢iples of the Charities SORP IFRS 1021.. make judgments and accounting estimates that are reasonable and prudent.. stale whether applicable UK Accounting Standards IFRS 1021 have been followed, 5ubje¢t to any material departures disclosed and explained in the financial statements.. prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the Charity will continue in business. The Trustees are responsible for keeping adequate a¢¢ounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any lime the financial position of the Charity and enable them to ensurè that the financial statement5 comply with the Charities Act 2011, the Charity (Accounts and Reportsl Regulations 2008 and the provisions of the Parochial Church Council Powers Measure. They are also responsible for safeguarding the assets of the Charity and hence for taking Teasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by". .Jllennls¥ Trustee Date.. Page 4
The Parochlal Church Councll Of The E¢¢lesia$tl¢al Parish Of Hope Church Islington Ind¢pendent examinprfs report for the year ended 31 December 2023 Independent examlner's report to the Trustees ofThe Parochial Church Council OfThe Eccleslastical Parish Of Hope Church Isllngton I'the Charlty'l I report to the Trustees on my examination of the CoUntS of the Charity for the year ended 31 December 2023. Responsibilities and ba$ls of report A$ the TrLTrStees of the Charity you are responsible for the preparats'on of the a¢¢ounls in 8¢cordance with the requirements of the Charities Act 2011 I'the 2011 AGVI. I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have folbwed the applicable Directions given by the Charity Commission under 3ection 145(5llbl of the 2011 Act. Independgnt oxamlngrfs statement Since the Charivs gross income exceeded £250,000 I confirm that l am qLtalified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I confiim that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect-. accounting records weie not kept in respect of the Charity as required by 5ectlon 130 of the 2011 Act,, or Ihe accounts do not accord with those reeords", or the accounts do not comply with the applicable reqUIrnents conceming the form and content of accounts sel out in the Charities (Acwunls and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fair, view which is not a matter considered as part of an independent examinatioR. 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 lo enable a proper understanding of the accounts to be reached. Signed: Dated.. 2911012024 Aamer Shehzad FCA Accountability Europe Ltd Omnibus Workspace 39-41 North RDad London, N7 9DP Page 5
The Patochlal Church Councll Of The Ecclesia$ti¢al Parish Of Hope Church Islington Statement of tlnanclal actlvltles for the year ended 31 December 2023 Unr¢$tricted funds 2023 Restricted funds 2023 Total funds 2023 Total funds 2022 Note Income from: Donations and legacies Charitable activities Other income 101.412 154.981 30,000 25,688 127.100 154,981 30,000 326,387 157,605 4,167 Total income 286,393 25,688 312,081 488.159 Expenditure on: Charitable acb'vities 305,514 42.862 348,376 298,521 Total expenditure 305,514 42.862 348,376 298,521 Net movement in funds 119.121) {17,1741 136,2951 189.638 Reconciliation of funds: Total funds brought forward Nel movement in funds 2,377.651 {19.1211 19.887 117,1741 2.397,S38 136,29SI 2.207,900 189.638 Total funds carrled forward 2,358,530 2,713 2.361,243 2,397.538 The Ststement of financial acl¢vities includes all gxins and losses recognised in the year. The notes on pages 8 10 18 form part of these financial statements. Page 6
The Parochlal Church Council Of The Ecclesiastlcal Parish Of Hope Church Islington Balance sheet as at 31 December 2023 2023 2022 Note Flxed assets Tangible assets 10 2,173,055 2,174,798 2,173,055 2,174,798 Current assets Debtors Cash at bank and in hand 74,824 115,359 62.319 165,926 190.1B3 228.245 Creditors_. amounts falling dLFe within one year 12 11,9951 15,5051 Net current assets 188.188 222,740 Total net assets 2,361,243 2,397,538 Charity funds Restr¢cted funds Unreslricted funds 13 13 2,713 2,358,530 19,887 2.377,651 Total funds 2,361,243 2,397,538 The financial statements were approved and aulhorised for Issue by the Trustees and signed on their behalf by.. Trustee Date". vy) £02* The notes on pages 8 10 18 form part of these financial statements. Page 7
The Parochlal Church Council Of Tha Ecclesiastlcal Parish Of Hope Church Islington Notes to th¢ flnanclal statements for the year ended 31 December 2023 General inforniation The Parish Of Hope Church IslinglDn is an unincorporated charity registered in England. The charitys principal place of business is St Mary Magdalene Chur¢h, Holloway Road, LoFMlon, N7 8LT. Accounting policles 2.1 Basis of preparation of financlal statements The financwl slalements have been prepared in accordance with the Charities SORP IFRS 102) Ac¢ounting and Reporting by Charities.. Statement of Recommended Practice app5icable to chalilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102> and the Charities Act 2011. The financial statements have been prepared 10 give a 'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required lo provide a 'true and fail view. This departure has involved following the Charities SORP {FRS 1021 published on 16 July 2014 rather than the Accounting and Reporting by Charities.. Statement ol Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Parochi81 Church Council Of The Eccle5ias1ical Parish Of Hope Church Islington meets the definition of a public benefit entity under FRS 102. Assets and Iiabililtes are initially recogni5ed al hi$tori¢al ¢ost or transaction value unless otherwise staled in the relevant accounting policy. The charity is exempted from preparing 8 cash flow statement due to exemption available lo charities with income of less than £500,000. 2.2 Going concern The PCC members have, al the lime of approving the financial stalemenls, a reasonable expectation that the Charity has adequale resources to continue in operational existence or the foreseeable future. 2.3 Income All income is recognised once the Charity has entitlement to th8 income, it is probable that the income will be received and the amount ol income ie¢eivable can be measured reliably. Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is re¢eived in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income 15 received, the income is accrLSed. In¢ome lax recovetable in relation to donations received under Gift or deeds of covenant 1$ re¢ognised at the lime of the donation. Other illcome is recognised in the period in which it is receivable and to the extent the goods have been provided Of on completion of the service_ Page 8
The Parochial Church Councll Of The Ecclesiastlcal Parish Of Hope Church Islington Notes to the flnanclal statements forthe year ended 31 Deeember2023 Accounting policies {continuedl 2.4 Exp8nditure Expenditure is recognised once there is a legal or conslruclive obligation lo transfer economic benefit to a thir¢J party, il is probable Ihal a transfer of economic benefits will be required in selllement and the amount of the obligation can be measured reliably. Expendilure is classified by activity. The cosls of each activty are made up of the lolal of direct costs and shared costs. including support costs involved in undertaking each aclivfty. Direct costs attributable to a single activity 8rÈ allocated directly to that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consislenl with the use of resource5. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the POTtion of the assets use. Expenditure on charitable activities is incurred Dn directly undertaking the activities which further the Charity's objectives, as well as any 8ssocialed support costs. Grants payable are charged in the year when the offer is made except in those cases wheye the offer is conditional. such grants being recognised as expenditure when the Conditions attaching are fulfilled. Grants offered subject lo conditions which have not been met at the year end are noted as a commitment. bul not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 2.5 Government grants Government grants relating lo tangiblè fixed assets are treated as deferred income and released to the statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the statement of financial activities as the related expenditure is incurred. 2.6 Tangible flxed assets and depreclatlon Tangible fixed assets costin9 £100 or more are capitalised and Tecognised when future economic benefits are probable and the cost or value of the asset can be measured (eliably. Tangible fixed assets are initially recognised at Cost. After recognilion, under Ihe cost model, tangible fixed assets are measured at cost less ac¢umLtlaled depreciation and any accumulated impairment losses, All costs incurre¢J lo bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is chargeij so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the slraight-line method. Depreciation is provided on the following basis.. Freehold property Fixtures and fittings Computer equipment Not depreciated or revalued 20% 33Qh 2.7 Debtors Trade and other debtors are recognisetl at the sèttlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.8 Cash at bank and In hand Cash al barEk and in haT)d includes cash and short-lerm highly liquid investments with a short maturity ol three months or less frorn the date of acquisition or opening of the deposit or similar account. Page 9
The Paro¢hial Church Council Of The E¢cleslastl¢al Parlsh Of Hope Church Isllngton Notes to the financial statements forthe year ended 31 December 2023 Accountlng pollcle8 (continued> 2.9 Liabllities and provision$ Liabilities are recognised when there is an obligation al the balance sheet date as a result of a past event. it is probable that a transfer of economic benefi't will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are cognised at the amount that the Charity arllicipates it will pay lo settle the debt or the amount il has received as advanced payments for the goods or services it musl provide. Provisions afe measured at the best esb'male of the amounts required lo settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted al the pre-tax discount rale that reflects the risks specific lo the liability. The unwinding of the discount is recognised in the statement ol linancial a¢livllies as a finance cost. 2.10 Financial instruments The Charity only has financial asset5 and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are Initial recognised al transaction value and subsequently measured al their selllemenl v21ue with the exptIOn of bank loan5 which afe subsequently measured al amortised cost using the effective interest method. 2.11 Pensions The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to th8 fund in respect of the year. 2.12 Fund accounting General lunds are unrestricted funds which are available lor use al the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purpose5. Reslricled funds are funds which are lo be used in accordance WTth specific restrictions imposed by donors or which have been raised by ihe Charity for particular purposes. The costs Df raising and administering such funds are charged ag3insl the specific fund. The aim and use of each ieslricled fund is set out in the notes lo the financial statements. Page 10
The Parochial Church Council Of The Eccleslastlcal Parfsh Of Hope Church Isllngton Notes to the financial statements for the year ended 31 December 2023 IncomefTom donations and legacles Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Donations Grants 92,715 8,697 2,996 22,692 95,711 31,389 101,412 25,688 127,100 Unrestricted funds 2022 Restricted funds 2022 Total funds 2022 Donations Grants 292.349 2,641 2,930 28,467 295.279 31,108 294,990 31,397 326,387 Income from charitable activities Unrestricted funds 2023 Total funds 2023 Servi¢e fees Property income 1,586 153,395 1,586 153,395 Total 2023 154,981 154.981 Unrestricted funds 2022 Total funds 2022 Service fees Property income 194 157,411 194 157.411 Totsl 2022 157,605 157,605 Page11
The Parochial Chur¢h Coun¢ll Of The Ecclesiastical Parish Of Hope Church Islington Notes to the financial Statements for the y¢ar endgd 31 D¢¢ember 2023 Analysls of grants Grants to Individuals 2023 Total funds 2023 Total funds 2022 Winter Hardship Fund 3,182 3,182 Analy$i$ of expenditure by actlvltles Actlvitl8s undertaken dlrectly 2023 Grant funding of activities 2023 Support costs 2023 Total funds 2023 Expenses 10,292 3,182 334,902 348,376 Activities undertaken diieclly 2022 Support Costs 2022 Total ftjnds 2022 Expenses 10,323 288,198 2g8,521 Page 12
The Parochial Church Council Of The Ecclesiastical Parish Of Hope Church Islington Notes to the financlal statements for the year ended 31 December 2023 Analysis of expendlture by activities Icontinuedl Analysis of support costs Total funds 2023 Total fund5 2022 Staff costs 106,211 1,742 94,738 103 6,137 1,139 1,944 19,577 99.871 4,692 21,778 Depreciation Repairs and maintenance Bank charges Legal and professional fees Telephor¢e Computer costs Rates Sundry costs Printing, postage and stationary Services Insurance Office costs staff training Common fund Temporary stsff Staff entertainment Rent Bad debt Govefr¢ance cost5 18,825 2,272 1,173 12,253 9,756 3.122 117 5.860 296 1,959 100,550 316 512 711 7,119 451 334 87.775 1,436 790 1.422 2.250 1,020 3,192 600 334,902 288,198 Independent examlner's remungration 2023 2022 Fees payable to the Charity's independent examiner for the independent Èxamination of the Charity's annual accounts, inclusive of VAT 1,080 Page 13
The Parochial Chur¢h Coun¢ll Of The Eccle$lastieal Parlsh 01 Hope Church Islington Notes to the financial statements for the year ended 31 December 2023 Staff costs 2023 2022 Wage$ and salaries Social secLErity ¢osts Contribution to defined wnlribulion pension schemes 100,731 2,817 2,663 93.163 3,893 2,815 106,211 99,871 The average number of persons employed by the Charity during the year was as follows.. 2023 2022 No. Staff No employ89 received remuneratiori 8mount.ng lo more than £60.000 in either year. Trustees, remuneration and expenses During the year, no Trustees received any remuneration or other benefits12022 - £NIL}. During the year ended 31 December 2023. no Trustee expenses have been incurred12022 - £NILI. 10. Tanglble fixfrd assets Freèhold Flxtures and property fittings Computer equipment Total Cost At 1 January 2023 2,172,637 11.762 9,707 2.194,106 Al 31 December 2023 2.172,637 11.762 9.707 2,194,106 Depreciation Al 1 January 2023 Charge for the year 11,762 7,S46 1,743 19,308 1.743 At 31 December 2023 11,762 9,289 21,051 Net book value At 31 December 2023 2,172,637 418 2,173,OSS Page 14
The Parochial Church Councll Of The Ecclesiastical Parish Of Hope Church1511ngton Notes to the financial statements forthe year ended 31 December 2023 11. Debtors 2023 2022 Due within one year Trade debtors Other debtor$ Prepayments and accrued income 15,92S 45,962 12,937 29.108 14,552 18.659 74,824 82,319 12. Creditors; Amounts falling due wlthln one year 2023 2022 Accruals and deferied income 1,995 5,505 Page 15
The Parochial Church Council Of The Ecclesiastical Pari$h Of Hope Church Isllngton Notes to the financial statements for the year ended 31 Decembgr 2023 13. Statgment of funds Statement of fund5 . current year Balance at 31 De¢ember 2023 Balance at 1 January 2023 Incomo Expenditure Unrestrlcted funds General funds 2.377,651 286,393 1305,5141 2,358,530 Restri¢ted funds Cloudesley church mainlenance grants 19,887 25,688 142,862} 2,713 Total of funds 2,397,538 312,081 1348,3761 2,361,243 Cloudesley church maintenance grants - Emergency works lo repair the church building. Cloudesley online video grant . To purchase equipment to enable recording and streaming of videos, and associated computer applications. 151inglon Council- To install LED lighting. Winter Hardship Fund - Funds donated and set aside lo help the community with their utility bills dLtring the winter. Page 16
The Parochlal Church Councll Of The Ecclesiasti¢al Parlsh Of Hope Church Islington Notes to the financial statements forthe year ended 31 December 2023 13. Statement of funds Icontinued) Statement of funds prior year Ba18nce at 31 December 2022 Balance at 1 January 2022 Income Expenditure Unrestricted funds General funds 2,190.112 456,762 1269.223) 2,377,651 Restricted funds Cloudesley online video grant lslington Council Winter Hardship Fund Cloud5eley - Boiler Cloudseley- Building maintenan 12,3221 190} 14501 12.8321 {23.6041 4.022 11.354 2.480 11,444 2,930 2,832 25,635 2,031 17,788 31,397 {29,2981 19,887 Total of fund$ 2,207,900 488.159 1298,5211 2,397,538 14. Analysis of net assgts between funds Analysi¥ of net assets between funds - current year Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Tangible fixed assets Current as$ets Creditors due wilhin one year 2,172.636 187,889 {1,995} 419 2.294 2,173,055 190,183 11,9951 Total 2.358,530 2,713 2,361,243 Page 17
The Parochlal Church Councll Of The Ecclesiastical Parish Of Hope Church Islington Notes to the financlal statements for the y¢ar ended 31 December 2023 14. Analy81s of net assets betw99n funds (continuedl Analysis ol net assets bgtween funds - prlor year Unreslricled funds 2022 Reslricled funds 2022 Totsl funds 2022 Tangible fixed assets Current assets Credilois due within one yeaf 2,172,637 210,519 15,5051 2,161 17,728 2,174,798 228.245 15,5051 Total 2,377,651 19,887 2.397,538 15. Pension commitments The charity operates a defined contribulion pension scheme. The assets of the scheme are held separately from those Df the charity in an independently administered fLtnd. The pension cost charge represents contributions payable by the charity to the fund and amounted lo £2,66312022." £2,815). Al tha balance sheet dale, the charity owed £nil to the fund12022.' £nill. 16. Operating toase commitments At 31 Decernber 2023 the Charity had commitments to make future minimum lease payments under non- ancellable operating leases as follows.. 2023 2022 Not later than 1 year Later than 1 year and not later than 5 years 2,347 4.694 2,347 2,347 7,041 17. Related party transaGtions During the year, donations totalling £nil 12022." £4.0001 were received from The Urban Revival Foundation. a company controlled by Trustees of the charity. The charity also made nel payments totslling £29.00012022'. £33,832) to The Urban Revival Foundation. At the balance sheet date, the charity was owed £43,55212022'. £14,552) from The Urban Revival Foundation. Page 18