THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsficAL PARISH OF NORTHALLERTON ANNUAL REpofff AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Charlty Re8lstrJtlon Number 1131285
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORThALLERTON LEGALAND ADMINISTrATIVE INFORMATION P.C.C Mem1 Mr P Andrew Mr W P 8akker (Warden) Mr 8Adams (Deputywardenl Mr M SmSth Mr A Deas Iwèrden) S Adsett Mr I Smlthmn Drm Ma¢e Mrs E Harbord (Deputy W•rdenl MrsJHo Mrij L8ppEn (D¢puty Warden) Mrs D Lee {Rwlaned 18 Odober 20141 {Rdlgned 29 Aprm 20211 1ts18ned 19 Aprfl 20241 IRned 19 Aprll 10241 Mr l Gatto Rt¥ Djohnson Mr J SIAught¢r Rwc Sodemign Mrss ToDm•r Mrss FOOr Mr M Klt¢hl Mrs Vsmiih Mr CJ Onwuiull8ho {R•fytsn•d 22 SWemtr•r 20241 {CollOPt•d 21 July 10241 Mr I Smlthon Secretary MYSJ Uppln Ch•rfty Numb•r 1131185 Prfndpll Addr• HWI Strert Northall•rton North Ywkshlre OL7 8DJ lrtd•pend4nt Examlner OeboT•h Fl¢tchervM¢Vay FCA Xelnadln Trlnlty Ilou Thurst¢n Ro•d frlorthallerton OL6 2NA 8ankn 8•t¢lJys Bank PLC I Churthlll Place London E145MP
THE PAROCHIAL CHURCH COUNaL OF THE ECCLESIASTICAL PARISH OF NORTHALLERTON coNrENTS Page P.C.C Members report Independent examinerfs report Statement of financial artivities Balan sheet Notes to the accounts 11>17
THE PAROCHIAL CHURCH COUNaL OF THE ECCiESIASTICAL PARISH OF NORTHAU P.C.C MEMBERS REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The P.CC. Member5 wesent their report and accounts forthe year ended 31 December 2024. The accounts have been prepared In accordance with the cnting policies set out In note I to the accounts and comply with the charitys Parochial Church Council (Powers) Measure {1956}. the Charities Act 2011 and the "Accountlng and Reportln£ by Charftles: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and the Republlc of IreL4nd {FRS 102r las amended for accounting periods commencing from l January 20191. Objectlves and actwities The P.C.C is committed to enabling as many people as possible to worship in our churthes and to become part of our parish community. All are WelCe to attend our regular services. The P.C.C. maintains an overview of worship throughout the parish and makes suggestions on how our serlices can involve the many groups that live within the parish. When planning our attlvltles for the year, the Incumbent and the P.CC have consldered the Cornmisslon's guidance on public benefit and, in particular. the specific guidan on charrties for the a(fvancement of rellglon. As the Anglican Church in the Parish of Northallerton with Romanby our purpose is: To Brow in our love for God in ChrisL' To grow in our love for eath other in our Christian community; To reach out In compasslon. service and ewdngelism; and To provlde pastoral care for people livlng In the parish. The P.C.C. has the responsibility of c(FoperatinE with the incumbent in promoting this purpose. It also has maintenance responsibilities for All Saints Churth. Northallerton and 5t James Church, Romanby. The P.C.Q Members have paid due regard to guidance issued by the Chaiity Commission in deciding what actiwties the charity should undertake. Athlevements and perfomiance The P.C.C. met 5 times and the Standing Committee met 4 times during the year. The All Saints, St James and Finance Action Groups met on a number of occasions a5 busin required. There were 208 parishioners (212 in 20231 on the Electoral Roll at the date of the 2024 Annual Parish Meetlng.
Revlew of the year endln8 31• December 2024 The financial year has been a challenge, with congregations still faillng to recover from the loss during covid and the traditional services dedining with the age of the con8re8ants. However. we are seeln8 8rowth In our New Worshipping Communities. which will increase the w'vin8 to the church over time. We are also seeing an increase In the number of events that are brlngina In funds, includin8 concerts, talks. and. of partlcular note. the Chrlstmas Tree Festlval, whlth ralsed over £SOI]O for the church. Great thanks go to all those who have worked hard on managing the finances alongside those who 8i¥e regularly and those who have given many hours to plan and host events. There Ss stlll much to be done as we aim to reduce our defidt and become a net contrlbutor to the Dlocese. Flnanclal revlew The statement of financlal artfvltles on page 8 sho¥ that Income amounted to £160,503 for the year Compared to £154,629 for the previous year. Expenditure in the year totalled £221,598 compared to £222,786 in 2023. The resultln8 deficlt for the year after Investment galns Is £56.875 compared to one of £59,263 for the prevlous year. Income In the year VRS tKK)Sted by a net surplus of Just over £5,000 from the welcome return of the Chrlstmas Tree Festlval whlch was last held before the pandemlc. Investment Interest of £10,183 was recelved compared to £11.075 In 2023 and the value of our Investments Increased by £4,220 compared to an Increase of £8,894 In 2023. but these galns are ufireallsed. The maln expense varlatlons are a sSgnlflcant Increase In energy costs and a planned decrease of our Freewlll Offer to the Dlocese of £io,IJJO. Cash flow wlll contlnue to be monltored carefully. The P.C.C. Is govemed by charlty leglslatlon under whlch a rlsk assessment has been made and the PCC has detemined that1Squld fvnds are required equNalent to between three and 51x month's expenditure. Based on the expendlture for 2023 the Ilquld reserves required are between £55,000 and £lll,OLX) and these are currentty more than adequately covered but are belng depleted eath year. The P.C.C. has drawn up a bud8et for 2025 and It Is heartenlng to note that the current energy contracts wlll end In summer 2025 and new ones have been negotiated that should Significantly reduce expenditure. Strurturol governance and management The Paroch1 Church Councll Is a corporate body estsbllshed by the Church of En8land. The P.C.C. operates under the Parochial Church Councll Powers Measure. The P.QC. is registered a5 an individual thBrity with the Charfty Comm10n. The P.C.C. Members who served during the year re. Mr P Andrew Mr W P Bakker (Warden) Mr B Adams (Deputy Warden) MrMSmr(h Mr A Deas {Wardenl (Resigned 28 October 2024)
Mrs S Adsett Mr I Smithson Dr M Mace {ResSgned 29 Aprll 2024) Mrs E Harbord (Deputy Warden) (Resigned 29 April 2024) Mrs J Hogg (Resigned 29 April 2024) Mrsj Lappin (Deputy Warden) Mrs O lee Mr l Gatto Rev D Johnson Mr J Slaughter Rev C Soderrnan Mrs SToomer Mrs S Fowler Mr M Kltchlng Mrs V Smith Mr C J OnwuzulSgbo (Reslgned 22 September 2024) (Co-opted 22 July 2024) The method of appolntment of P.C.C. members Is set out In the Church Representatlon Rules. All church ttendees are encouraged to reglster on the Electoral Roll and stsnd for electlon to the P.C.C, The buslness of the parlsh Is condurted through the P.C.C. The P.C.C. has a StandlnB Commlttee whlch meets routlnely between P.C.C. meetlngs. The P.C.C. delegates some of Its responslbllltles to two sub-commlttees, the St James Actlon Group and the All Salnts Actlon Group, who meet regularly. They report to the full Councll whlch then dlscusses the Issues and acts accordlnglv. All decislons are made by the P.C.C. member5 as a whole. A resolutlon reappolntlng Deborah Fletcher-mcvay FCA of Xelnadln as Independent examlner wlll be presented to the Annual General Meetlng. The P.C.C. Members report was approved by the Board of P.C.C. Members. Rev D Johnson Chairman Dated: 24 March 2025
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTHALLERTON INDEPENDENT EXAMINER'S REPORTTO THE MEMBERS OF THE PAROCHIAL CHURCH COUNaL OF THE ECCLESIASTICAL PARISH OF NORThALLERTON I report to the P.C.C. Members on my examination of the financlal statements of The Parochlal Church Council of the Eccleslastlcal Parlsh of Northallerton (the charity) for the year ended 31 December 2024. Responslbilities and basls of report As the P.C.C. Members of the tharity you are responsible for the preparatlon of the flnandal statements In accordance wlth the requlrements of the Charltles Act 2011 (the 2011 Act). I report in respect of my examination of the charitys financlal statements carried out under sertion 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Dirertions 8iven by the Charity Commission under sertion 14515llbl of the 2011 Art. Independent examlner's statemenl Your attentlon Is drawn to the fart that the charlty has prepared finandal statements In accordance wlth Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accountin8 and Reportlng by Charities: Statement of Recommended Practice Issued on l April 200S which Is referred to In the extant regulatlons but has now been wlthdrawn. l understand that this has been done In order for financial statements to provide a true and fair view in accordance with Generally Accepted Accountin8 Practice effective for reportlng periods beginnin8 on or after l January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examinatlon glvlng me cause to belleve that In any material respert: accounting records were not kept in respect of the charity as requlred by sectton 130 of the 2011 Act; or the financial statements do not accord vAth those records; ar the financlal statements do not comply with the appllcable requlrements conceming the form and content of accounts set out in the Charities (Accounts and Report51 Regulations 2008 other than any requirement that the accounts glve a true and falr vlew whlch Is not a matter conSIder as part of an independent examinatlon. I have no concerns and have come across no other matters in connection with the examination to which attention should be draTr In thls report In order to enable a proper understanding of the financlal statements to be reached. Deborah Fletcher-mcvay FCA Xeinadin Accountants Trlnlty House Thurston Road Northallerton DL6 2NA Dated: 2113111
THE PAROCHIAL CHURCH COUNCILOF THE ECCLESIAThCAL PARISH OF NoRTHAToN STATEMENT OF HNANaAL AcfivrnES YEAR ENDED 31" DECEMBER 2024 Funds Total 2024 Total 2023 Income from: Donations and legades Church activitses Other tradlng actlvlties Investments 108.S30 19,131 10,284 555 11,084 1.291 119,614 20,422 10,284 10,183 121.067 21,100 1,387 11.07S 9,628 Totsl Income 138500 22AK13 160.503 154.629 Expenditure on: Raisin8 Funds Charitable Acti¥iknes 3,583 218,015 148,766 69.249 222,786 Total Expendlture Is 69249 221,S98 222,786 Transfws between Thd$ (2,186) Net galnsloosses) on Inveslrnts li Net m(v4ernent In Funds (7A43) (49,432) (s675) 159.2631 Fund balances at l January 2024 6SO,018 389,T13 1,039,791 1.099,054 Fd balances at 310ecember 2024 64¥75 340341 982,916 1,039,791
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NORTHALLERTON BALAp4 SHEET 31ST DECEMBER 2024 2023 FIXED ASSErs Tangible assets Investments 674.044 86,880 760.924 694,341 82,661 777,002 li CURRENT ASSETS Debtors Investments Cash at bank and in hand 10.030 190.909 31.212 232.151 11,410 240,726 17,078 269,214 CREDITORS: Amounts falling due wthln one year 14 (10,159) {6,425) NET CURRENT ASSErs 221,992 262,789 TOTAL ASSETS LESS CURREKf ilABILmES 982.916 1,039.791 FUNDS Restrlrted funds Unrestricted funds 340A41 64275 389.773 650.018 TOTAL FUNDS 982316 1.039,791 These financial statements were approved by the P.C.C Members on 24th March 2025. Rev D JOHNSON Chairman Mr I CSMITHSON Trustee
THE PAROCHIAL CHURCH COUNaL OF THE ECCLESIASTICAL PARISH OF NORTHA NOTES TO THE FINANaAL STATEMENTS YEAR ENDED 31ST DECEMBER 2024 AccouKllNG pouaES Charity Infomiatlon The Parochial Church Counal of the Ecclesiastical Parish of Northallerton is a corporate body established by the Church of England. 1.1 A¢¢ountln8 convtIon The accounts have been prepared In accordan wlth the charws Parochlal Church Councll IPowersl Measure119561. the Charities Act 2011 and -Accountin8 and Reportin8 by Charities: Statement of Recommended Practio applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and the Republlc of Ireland IFRS 102}" las amended for accounting periods commencin8 from l January 2019). The drity is a Public Benefit Entity as defined by FRS 102. The accounts have departed from the Charities (Accounts and Reportsl Regulations 218 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charibes applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but whbth has Sin been withdrawn. The accounts are prepared in sterfin& whith is the functional currency of the charity. Monetary amounts In these finantial statements are rounded to the nearest £. The accounts have been prepared under the historfcal cost convention, modlfied to Include investment pmpertles at falr value. The prlntipal accountlng policies adopted are set out below. 12 Golng Con¢em At the time of appron8 the accounts, the P.CC. Members have a reasonable expectation that the charity has adequate resources to continue in operational existen for the foreseeable future. Thus the P.C.C Members continue to adopt the going concern basls of accountlng in weparing the accounts. 1.3 Charltsble Funds Unrestricted funds are available for use at the discretion of the P.CC. Members in furtherance of thelr charitable obJectlve5 unless the funds have been deslgnated for other purposes. Restricted funds are subJect to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the account& io
1.4 Incomlng resources Income is recognised when the chaty Is legally entitled to It after any perfonnance condltlons have been met, the amounts can be measured rellably, and It Is probable that Income wlll be recelved. Cash donatlons are recognlsed on recelpt. Other donatlons are reco8nlsed once the charlty has been notlfied of the donation, unless perfom)ance conditions require deferral of the amount. Income tax recoverable In relatlon to donatlons recelved under Glft Aid or deeds of covenant Is recognlsed at the time of the donation. Legacles are recognlsed on reIpt or otherwlse If the charlty has been notlfied of an Impendlng distribution, the amount Is known, and receipt is expected. Other tradinB Income, Includin8 resour$ from thurch actlvitles and other trading actSvities. is recognised when recelvable by the charlty. Investment Income, In the forni of Investment Interest, Is recognlsed when CeIVable by the charlty. Rentsl income from the informal lettin8 of church premises is recognised when the rental 15 due. Deferred income relates to wedding deposits deferred to the period in vthich the event it relates to occurs. 1.5 Resources expended Expenditure is reco8nised on an accruals basis as a liability is incurred. Expenditure includes any VAT whlch cannot be fully recovered. and Is reported as part of the expenditure to whlch It relates: Costs of raising funds comprises the costs associated with attrarting donations and the costs of trading for fundraising purposes Charltable expendlture comprlses those costs Incurred by the charity In the dellvery of Its actlvltles and services to beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an Indirect nature necessary to support them. L6 Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreclatlon and any Impalrment losses. Consecrated and benefice property of any kind15 excluded from the financial statements by section 10 of the Charities Act 2011. Depreciation is reco8nised so as to write off the costs Df assets less thelr residual values over their useful Elves on the followlng basis: Freehold property Improvements to consecrated property Plant and machinery Furniture and Flttln8S Nll 2% stral8ht Ilne 15% reducing balance 5% reduclng balance The lain or loss arising on the disposal of an asset Is determlned as the difference between the sale proceeds and carryin8 value of the asset. and is recoEnlsed In net Incomellexpendlturel for the year. li
1.7 Impalrnient of fixed assets At each reporting end date, the tharity reviews the carying amounts of Its tsn8ible assets to deterniine whether there is any indication that those assets have suffered an impairment loss. If any suth Indication exists, the recoverable amount of the asset is estimated in order to detem)ine the extent of the impaimient loss Irf any). 1.8 Inveslments Current asset Investments represent deposlt accounts held by the charfty which are measured accordlng to the value of the deposlt fund at the balance sheet date. FSxed asset Investments are initially measured at transaction price excludin8 transaction costs, and are subsequently measured at fair value at each reportln8 date. Chan8es in falr value are recognlsed In net Incomellexpendlturel for the year. Transactlon costs are expensed as Incurred. Donatlons and leiades Unrestrl¢ted Restrt¢ted Funds Tot•1 2024 Total 2023 Donatlons and Glfts Le8acies receivable 108,$30 11.084 119,614 119,757 1.310 119,614 121,067 108,530 11,084 Donatlons and Glfts Glft Ald donations and other planned 8lvln8 Income tax recoverable on Glft Ald Collectlons Donatlons 67,035 67,03S 68,159 19,238 IS,124 7,133 19,238 17,477 7,133 19,773 17,030 5.509 2,353 Or8an Recltal Donatlons Chlldren & Families income Hambleton DC Warm Spaces Grant Dlocesan Bullding Grant 2,677 2,677 4,554 4,632 4,154 500 1,500 119.614 108.530 11.084 119,757 For the year ended 31 Oecember 2023 Donatlons and Glfts Le8actes re1¥able 108,820 250 109,070 10.937 1.060 11,997 119,757 1,310 IZl.067 12
Church activities Unrestrlrted Restrlcted Funds Funds Totsl Funds 2024 Total Funds 2023 Churth artlvlty Income Letting income Fees Listed Place of Worship VAT grant receivable 3,732 15,399 3,732 15,399 1.291 20,422 4,903 14,442 1,755 21,100 1,291 1,291 19,131 AII 2023 church activities intorne was unrestricted with the exception of £1,755 reteived from the Llsted pla of Worshlp VAT grant. Olher tradlnE actlvltles 2024 2023 Activities for generating funds 10,284 1,387 Investments Unrestrlcted Restrlrted Funds Funds Total Funds 2024 Total Funds 2023 Interest receivable For the year ended 31 December 2023 Interest receivable 555 9.628 10,IS3 11,075 698 10,377 11,075 Ralslng Funds Unrestricted Restrlcted Funds Funds Total Funds 2024 Total Funds 2023 Tradlng costs Other trading activitles 3,583 3,583 13
7 Charltsble Ktiviti¢s 2024 2023 Mlsdon and parish 8Mn8 Clergy expenses and houslng Heat, light and water Malntenance and repalrs Insurance Organlsts salarles and occaslonal office fees Event costs Postage, ststlonery, telephone. sundrfes and bank charges Parlsh admlnlstration Donatlons Altar requlsltes Depreclatlon Fees to Dk)cese Legal and professlonal Chlldren & Famllles mlnlsterfs salary and related costs VAT expenditure covered by 8rant 65,(LlO 7S,000 10,905 15,711 7,942 5,978 18,289 69 8,659 6,686 7,925 2.S87 23,895 2,S88 1,564 33,232 1,756 222,786 24,829 7,739 6,165 19,273 2,212 6,955 4,113 2,924 22,483 4,314 1,708 32,524 1,291 218,015 Analysls by fund Unrestricted fund5 Restrlrted funds 148,766 69,249 218.015 161,619 61,167 222,786 Le831 and professlonal fees Indudes fees payable to the Independent Examlner of £1.600 12023 £1,500). P.CG Membe None of the P.C.C. Members lor any persons connected wlth theml recelved any remunerntion durirt8 the year but two of them were reImtrSed a total of £7.201 travelllng and other out of pocket expenses 12023- three were relmbursed £8,378). 9 Emplee$ 2024 Number 2023 14umber Number of employees The average monthly number of employees duflng the year was: 14
io Tangible Fixed Assets Freehold Improvement Plant and Furnlture Property to Mathlnery and Flttin85 Totsl Consecrated Property Cost At l January 2024 Addltlons durlng the year At 31 December 2024 135,000 603,669 109,666 59,338 2,186 61,524 907,673 2,186 909,859 135,000 603,669 109,666 Depreclatlon and Impalrment At l January 2024 Depredatlon charged In the year At 310ecember 2024 144,945 12,074 157,019 56,970 7,904 64,874 11,417 2,505 13,922 213,332 22,483 235,815 Canylng amount At l January 2024 At 31 December 2024 135,000 135.000 458.724 446,650 52,696 44,792 47.921 47,602 694.341 674,1)44 Improvernents to consecrated property Include the constructlon of the extenslon to St James Churth and the re-roofln8, Structural work to the tower at All Salnts Church and the converslon of the north alsle room and Improvements to the parlour and office at All Salnts Church together wlth the costs of works relatln8 to the heatln8 scheme at All Salnts completed In 2021. Freehold property comprises the resldential property at l Ashlands Road. 11 Investments Cost or Valuatlon CCLA Investment Fund At l January 2024 Addltlons Valuatlon chan6es Olsposals 82,661 4.219 86.880 Carrylng amount As at 31 December 2024 86,880 As at 31 December 2023 82,661 Is
All Investments are carried at thelr falr value. Investments are traded In quoted public markets for which market prices are readily available. 12 Debtors 2024 2023 Amounts falllng due wlthln one year Other debtors Prepayments and accrued Income 9,207 823 lo 11,132 278 IINIO 13 Current asset Investments 2024 2023 Cash on deposlt 190,909 240,726 14 Credltors 2024 2023 Amounts falllng due wlthln one year Other creditors Accruals and deferred Income 10,IS9 10,159 6,425 6,425 15 Restrfrted Funds The Income funds of the charlty Indude restrlcted funds comprlsln8 the followlng unexpended balances of donatlons and grants held on trust for speclftc purposes: Movement In Funds Intomin8 Resources resources expended Balance atl January 2024 Transfers Balance at31 December 2024 Fabrlc Repalr Fund-StJames Fabr Repair Fund- All Saints Ida Hewson Fund Evangelical Purposes Fund Music Fund Funeral Collectlons for Charltable Purposes 169,793 4,194 1.500 8,104 1.685 2,876 2,353 9,193 12,1861 162,608 1,500 127,594 38.379 10,260 143,699 68,219 8,062 24,209 31,525 678 2,353 Llsted Place of Worshlp VAT Grants 1,291 22A103 1,291 69.249 389,773 12,186) 340,341 16
The St James Fabrlc Repair Fund represents a number of legacies from past parlshloners for the general upkeep of the fabrlc of the church. Expenditure was incurred on maintenance, organ tuning and repalr, heatlng, Ilght, and Insurance costs as well as a number of mlnor works In the church. The All Salnts Fabrlc Fund was established during the year followin8 the receipt of a grant from the Dlocese towards the costs of repairlng a chlmney In the thurch. One of the grant conditions was that It be placed Into a restrlcted fund. The work wlll be carrfed out in 2025. Income from the Ida Hewson fund and any capltal whlch the York Dlocesan Board of Flnance decldes It should use, must be applled for uses In the Parlsh of Northallerton whlch are both charltable and ecclesiastical, includlng the repair of the fabric of the church, the expense of running servlces and providing for a cholr and the Diocesan Quots for Forelgn Misslons. Thls fund Is beln8 used to fund two thlrds of the cost of Chlldren & Familles Work. The Evangellcal Purposes Fund Is the proceeds of a le8acy to be spent on those purposes. Expendlture has been Incurred on the Assoclate Mlnlsterfs expenses. or8anlsts salarles, seThlce costs and one thlrd of the expendlture on Chlldren & Famllles work. A Muslc Fund was set up In 2023 by the P.C.C. to ralse funds for works to the All Salnts organ. Durlng the year collections followlng muslc recltals given In All Saints and donations receNed for the or8an were added to the fund. Funeral Collectlons for Charltable Purposes Comprlse SO% of collectlons recelved at lunerals whlch the P.C.C. has elected to donate to charltles where one has been nomlnated by relatlves of the deceased. Llsted Place of Worshlp grants vRre clalmed In the year to fund the VAT costs Incurred on the heatln8 prolect. Transfers from restrlcted to unrestricted funds relate to flxed asset additlons funded from the approprlate restrl¢ted fund, whereby the restrlctlon on Income Ss satlsfled followlng expendItU on the capital asset. 16 Analysls of net assets between funds Unrestrfded Restrlcted funds funds Total Fund balances at 31 December 2024 are rewesented by: Tangible assets Investments Current assets / {Ilabllltlesl 539,044 86,880 16,651 642,575 135,000 674,044 86,880 221,992 982,916 205,341 340,341 17 Related party transartlons There were no dlsclosable related party transactlons durlng the year12023- none). 17