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2022-12-31-accounts

Charity Registration No. 1131892

Company Registration Number: 06565087 (England and Wales)

THE JUNIUS S MORGAN BENEVOLENT FUND REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

THE JUNIUS S MORGAN BENEVOLENT FUND

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

CONTENTS Page
Legal and administrative information 1
Trustees’ report 2
Independent auditor’s report 5
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 10 -16

THE JUNIUS S MORGAN BENEVOLENT FUND LEGAL AND ADMINISTRATIVE INFORMATION

Trustees The Burdett Trust for Nursing
Mr Alan Gibbs
Mr Andrew Gibbs
Mr Andrew Martin Smith
Secretary Rathbones Trust Company Ltd
Charity number 1131892
Company number 06565087
Registered office 8 Finsbury Circus
London
EC2M 7AZ
Auditor Haysmacintyre LLP
10 Queen Street Place
London
EC4R 1AG
Bankers Coutts & Co
440 Strand
London
WC2R 0QS
Solicitors BDB Pitmans LLP
One Bartholomew Close
London
EC1A 7BL
Investment advisors CCLA Investment Management Limited & CCLA Fund Managers
Limited
Senator House
85 Queen Victoria Street
London
EC4V 4ET
Rathbones Investment Management
8 Finsbury Circus
London
EC2M 7AZ

1

THE JUNIUS S MORGAN BENEVOLENT FUND

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees, who are also directors of the Trust for the purposes of the Companies Act, present their annual report and financial statements of the charity for the year ended 31 December 2022. The financial statements have been prepared under the provisions of the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition, effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the accounting policies set out on pages 11-12. The financial statements company with all other statutory requirements and the requirement of the Trust’s governing documents.

Objectives and activities

The aim of the charity is to provide financial or other relief for needy practicing and former members of the nursing profession through the provision of grants. The Trustees have had regard to Charity Commission guidance concerning public benefit when considering the activities of the charity.

Grant Making and Operational Policy

The Fund assists registered nurses and health care assistants who have practiced in the UK for a minimum of five years.

The Trustees consider applications from individuals within the criterial who find themselves in hardship for a variety of reasons. The fund does not usually pay educational fees.

The Fund will make cash payments to assist with payments for a variety of purposes including rental & mortgage arrears, heating, telephone charges, household renewal costs (decorating, furniture, furnishing) and adaption of homes for individuals with disabilities. The Fund does not pay residential or nursing home fees, holidays or respite care.

The maximum amount of any individual in any 12 month period will not normally exceed £1,500 for all new awards.

The Fund is a member of the ACO (The Association of Charity Officers) which is an organisation which has a helpline providing details on a wide range of benevolent funds to agencies such as SSAFA, Citizens Advice Bureaux and other advisers as well as to individuals.

Achievements and performance

There were 279 recipients of one off grants provided by the charity, at an average grant of £782 per recipient (2021 – 244 recipients with an average grant of £756).

The asset allocation of this Trust, with investments in COIF Investment Fund and Rathbone Balanced Mandate, remains consistent with the preservation of long-term capital and a long term investment horizon.

The Trustees key object is to help nurses in hardship.

Financial review

Total income was £412,720 (£309,158 in 2021), with £322,471 (£268,014 in 2021) being committed to charitable activities of which £65,561 (£57,539 in 2021) relating to support costs and £3,900 (£3,600 in 2021) relating to governance costs, resulting in net income of £90,249 (net income £41,144 in 2021).

The total movement of resources in the year also includes the unrealised and realised loss based upon the market value of the investments at the year end of £497,397 (gain £520,993 in 2021).

2

THE JUNIUS S MORGAN BENEVOLENT FUND

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees have reviewed the reserves of the Trust. At 31 December 2022, the total reserves amounted to £3,933,358 (2021: £4,340,506). The reserves are considered to be at a suitable level given the aim to strike a sensible balance between the needs of the present and future.

Risk Management

The trustees have undertaken a review of the major risks that could face the charity and have identified that the principal risk faced lie in the performance of investments.

The trustees consider variability of investment returns to constitute the charity’s major financial risk. This is mitigated by retaining expert investment managers and having a diversified investment portfolio.

Structure, governance and management

The Benevolent Fund is a company limited by guarantee incorporated on 14 April 2008 and was registered as a charity on 29 September 2009.

The Trustees, who are also the directors for the purpose of company law, and who served during the year were:

The Burdett Trust for Nursing Mr Alan Gibbs Mr Andrew Gibbs Mr Andrew Martin Smith

The Trustees of the corporate trustee, The Burdett Trust for Nursing, who served during the year were:

Alan Gibbs Andrew Martin Smith Dame Christine Beasley DBE Evy Hambro Professor David Sines CBE Dr Michael Gormley (resigned 8 September 2022) Andrew Gibbs Audrey Ardern-Jones Janice Stevens Dame Donna Kinnair Rachael Corser

Organisation

The Trustees are appointed by existing Trustees. On appointment, they are informed about the activities of the charity and are made aware of developments in the sector as required. The day to day administration of the charity was delegated to Rathbones Trust Company Limited, which also acted as Secretary to the Fund.

3

THE JUNIUS S MORGAN BENEVOLENT FUND

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2022

Statement of trustees’ responsibilities

The Trustees, who are also the directors of the Junius S Morgan Benevolent Fund for the purpose of company law, are responsible for preparing the Trustees’ Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these accounts, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts 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.

Auditor

The auditor, Haysmacintyre LLP, will be proposed for re-appointment in accordance with section 485 of the Companies Act 2006.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit but of which the auditor is unaware. The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

In preparing this report, the trustees have taken the exemptions available to small companies and have not prepared a strategic report.

The Trustees’ Report was approved by the Board of Trustees.

……………………………………...

Mr Alan Gibbs

Trustee

Date: 5 September 2023

4

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE JUNIUS S MORGAN BENEVOLENT FUND

Opinion

We have audited the financial statements of The Junius S Morgan Benevolent Fund for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, 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 Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustee’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s 's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are 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 we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

5

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE JUNIUS S MORGAN BENEVOLENT FUND

the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 4, the trustees (who are also the directors of the charitable company for the purposes of company law) 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 charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our 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 our 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company and the sector in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to regulatory requirements of the Charity Commission, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011, Companies Act 2006 and the taxation environment.

We evaluated management’s opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries and management bias in certain accounting estimates and judgements. Audit procedures performed by the engagement team included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

6

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE JUNIUS S MORGAN BENEVOLENT FUND

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Tracey Young (Senior Statutory Auditor) For and on behalf of Haysmacintyre LLP, Statutory Auditor

10 Queen Street Place London EC4R 1AG

Date: 19 September 2023

7

THE JUNIUS S MORGAN BENEVOLENT FUND

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 DECEMBER 2022

Note
INCOME
Donations and legacies
2
Investments
3
Total income
EXPENDITURE
Charitable expenditure
4
Total expenditure
Net income before investment (losses)/gains
(Loss)/gain on investments
9
Net income and movement in funds
Fund balances at 1 January 2022
Fund balances at 31 December 2022		 2022
£
303,578
109,142
412,720
322,471
322,471
90,249
(497,397)
(407,148)
4,340,506
3,933,358
==========		 2021
£
203,513
105,645
309,158
268,014
268,014
41,144
520,993
562,137
3,778,369
4,340,506
==========

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

The accompanying accounting policies and notes on pages 11 to 16 form an integral part of these financial statements

8

THE JUNIUS S MORGAN BENEVOLENT FUND

COMPANY NUMBER: 06565087

BALANCE SHEET

AS AT 31 DECEMBER 2022

Note
FIXED ASSETS
Investments
10
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
Other creditors
12
Net current assets
Total net assets
INCOME FUNDS
Unrestricted funds		 2022
£
£
3,762,308
24,282
170,591
194,873
23,823
171,050
3,933,358
==========
3,933,358
3,933,358
==========		 2021
£
£
4,260,854
24,265
72,783
97,048
17,396
79,652
4,340,506
===========
4,340,506
4,340,506
===========

The financial statements were approved by the Trustees and authorised for issue and are signed on their behalf by

………………….

Mr Alan Gibbs Trustee

Date: 5 September 2023

The accompanying accounting policies and notes on pages 11 to 16 form an integral part of these financial statements

9

THE JUNIUS S MORGAN BENEVOLENT FUND

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2022

Note
Cash flows from operating activities
Cash absorbed by operations
14
Investing activities
Dividends and interest received from
Investments
Investment additions
Investment disposals
Net cash generated from investing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of
year
Cash and cash equivalents at the end of year
15		 2022
£
109,142
-
1,023
£
(12,356)
110,165
97,808
72,783
170,591
==========		 2021
£
£
(77,789)
105,645
(64)
1,039
106,620
28,831
43,952
72,783
===========

10

THE JUNIUS S MORGAN BENEVOLENT FUND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES

Company information

The Trust 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, the liability in respect of the guarantee is limited to £1 per member of the charity.

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

1.1

Accounting convention

These accounts have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102 (SORP 2015) (Second Edition, effective 1 January 2019) and the Companies Act 2006. The charity is a Public Benefit Entity as defined by FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant policy note.

1.2

Going concern

The Trustees consider there are no material uncertainties about the charity’s ability to continue as at a going concern. The review of our financial position, reserve levels and future plans gives Trustees confidence the Charity remains a going concern for the foreseeable future.

1.3

Charitable funds

Grants are included in the financial statements when approved by Trustees and notified to recipients. The value of committed grants unpaid at the year end is accrued. Grants offered that are subject to conditions that have not been met at the year end are noted as a commitment but not accrued as expenditure.

1.4 Income

Donations and gifts

Donations and gifts are included in the accounts in the year in which they are receivable.

Investment Income

Investment income is accounted for on an accruals basis in the period to which it relates.

1.5 Expenditure

Management and administration

Management and administration costs comprise those costs incurred in running the charity. They have been apportioned on the basis of time spent between charitable activities, cost of raising funds and governance costs.

Governance

Governance costs consist of those costs associated with the overall running of the Charity and meeting statutory and regulatory requirements.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

11

THE JUNIUS S MORGAN BENEVOLENT FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES (continued)

1.7 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.8 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

1.9 Financial instruments

The charity only has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.10

Investments

Fixed assets investments represent listed investments which are stated at market valuation, where market value represents the bid value on the last trading day before the year end. Any unrealised or realised gains arising from investments are accounted for in the Statement of Financial Activities.

1.11

Judgements and estimates

In preparing these financial statements, the Trustees have made judgements, estimates and assumptions that affect the application of the charities accounting policies and the reported assets, liabilities, income and expenditure and the disclosures made in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The Trustees do not believe there are any significant areas of estimate or judgement within these financial statements.

2. Donations and legacies

Grant from The Burdett Trust for Nursing
Other donations
3.
Investments
Income from listed investments		 2022
£
300,000
3,578
303,578
==========
2022
£
109,142
109,142
==========		 2021
£
200,000
3,513
203,513
==========
2021
£
105,645
105,645
==========

12

THE JUNIUS S MORGAN BENEVOLENT FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

4. Charitable activities

Grant funding of activities (see note 5)
Support costs (see note 6)
Governance costs (see note 6)
5.
Grants payable
Grants to individuals 296 grants (2021:
6.
Support costs
2022:
General administration fees
Sundry expenses
Consultancy fees
Audit fees
Trust Admin Fees
2021:
General administration costs
Sundry expenses
Consultancy fees
Audit fees		 Grant funding of activities (see note 5)
Support costs (see note 6)
Governance costs (see note 6)
5.
Grants payable
Grants to individuals 296 grants (2021:
6.
Support costs
2022:
General administration fees
Sundry expenses
Consultancy fees
Audit fees
Trust Admin Fees
2021:
General administration costs
Sundry expenses
Consultancy fees
Audit fees		 259 grants)
Support
Governance
Costs
Costs
£
£
3,084
-
1,127
-
-
3,900
61,350-
65,561
3,900
==========
==========
Support
Governance
Costs
Costs
£
£
54,000
-
2,351
-
1,188
-
-
3,600
57,539
3,600
=========== ==========		 2022
£
253,010
65,561
3,900
322,471
==========
2022
£
253,010
==========
2022
£
3,084
1,127
3,900
61,350
69,461
==========
2021
£
54,000
2,351
1,188
3,600
61,139
==========		 2021
£
206,875
57,539
3,600
268,014
==========
2021
£
206,875
==========

7 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

13

THE JUNIUS S MORGAN BENEVOLENT FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

8 Employees

There were no employees during the year (nil in 2021).

9.
Net (losses)/gains on investments
Unrealised gains and losses on investments
Realised gains and losses on investments
Revaluation of investments

10.
Fixed asset investments
Valuation
At 31 December 2021
Gain in the year
Additions
Disposals
At 31 December 2022
Historic cost of investments
11.
Debtors: amounts falling due within one year
Investment income accrued		 2022
2021
£
£
(497,523)
520,800
126
193
(497,397)
520,993
==========
==========
Listed
Investments
£
4,260,854
(497,523)
-
(1,023)
3,762,308
==========
2022
2021
£
£
2,242,926
2,243,949
==========
==========
2022
2021
£
£
24,282
24,265
24,282
24,265
==========
==========

14

THE JUNIUS S MORGAN BENEVOLENT FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

12. Creditors: amounts falling due within one year

General administration costs
Audit fees
Reconciliation of grant creditor
Opening grant creditor
Grants authorised in the year
Grants paid in the year		 2022
£
19,923
3,900
23,823
======
2022
£
-
253,010
(253,010)
-
==========		 2021
£
13,796
3,600
17,396
=====
2021
£
-
206,875
(206,875)
-
==========

13. Related party transactions

The charity is controlled by the Burdett Trust for Nursing, an incorporated charity. Grants from the Burdett Trust for Nursing are disclosed in note 2.

During the year, Rathbone Trust Company Limited acted as company secretary for the charity. Fees of £51,125 (2021: £54,000) were payable to Rathbone Trust Company Limited for secretarial and administration services. At the year end £16,625 (31 December 2021 - £13,500) was due to Rathbone Trust Company Limited.

14. Cash used in operations

(Deficit)/Surplus for the year
Adjustments for:
Investment income recognised in the statement of
financial activities
Unrealised loss/(gain) on investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Cash used in operations		 2022
£
(407,148)
(109,142)
497,523
(17)
6,427
(12,356)
==========		 2021
£
562,137
(105,645)
(520,800)
1
(13,482)
(77,789)
==========

15

THE JUNIUS S MORGAN BENEVOLENT FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

15. Cash and cash equivalents

Cash at bank and in hand
Analysis of changes in net funds
Cash at bank and in hand		 2022
2021
£
£
170,591
72,783
==========
==========
1 January
2022
Cash-flows
31 December
2022
£
£
£
72,783
97,808
170,591
72,783
97,808
170,591
==========
===========
===========

16