Charity registration number 1133078 (England and Wales) THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBERT'S CHURCH, DARLINGTON ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 xeinadin
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBERT'S CHURCH, DARLINGTON LEGAL AND ADMINISTRATIVE INFORMATION Incumbents Rev T J Harvey Associate Priest Rev S Jay Pioneer Prlest Rev S Price Curate Rev M Yasini Ex Officio Mr C Denton Mrs K Martin Lay Reader Mrs H Hopper PCC Members Mrs S Graham Miss H Simpson Mrs J Gilmore Mr P Gilmore Mrs V Head Rev S Price Rev T J Harvey Mrs H E Hopper Rev M Yasini Ms E Paige Rev S Jay Mr K Nicholson Mr P Benson Mr R Penn811 Ms N Chamanfar (Appointed 28 April 2024) (Appointed 28 April 20241 (Appointed 28 April 20241 (Appointed 28 April 2024) Wardens Mrs J Gilmore Mrs S Graham Treasurer Mr P Benson Charity number (England and Wales) 1133078 Principal address Market Place Darlington Co Durharn DL15QG Indèpèndent examiner Deborah Fletcher-mcvay FCA Xeinadin Accountants Trinity House, Thurston Road Northallerton North Yorkshire DL6 2NA
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBERT'S CHURCH, DARLINGTON CONTENTS Page PCC Members report Independent examinerfs report Statement of financial activities Balance sheet Note5 to the financial statements 7-14
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBERT'S CHURCH, DARLINGTON PCC MEMBERS REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Thé PCC mèmbers present their annual report and financial statements for the year ended 31 Dember 2024. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Parochial Church Council's Parochial Church Council Power5 Measure (1956) as amended and Church Represenlation Rules. the Charities Act 2011 and °Accounting and Reporting by Charities: Statement of Recommended Praclice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" {as amended for accounting periods commencing from 1 January 2019). Objectives and activities The objects are: - To grow in our love for God in Christ ~ To grow in love for each other in our Chislian communty - To reach out in compassion. service and evan9eli5m. The PCC members hav8 paid du8 regard to guidan issued by the Charity Commission in deciding what activities the Parochial Church Council should undertake. The PCC has Ihe responsibility of cOperating with the incumbent in promoting this purpose. It also has maintenance responsibilities for St Cuthbert's Church. Achievements and perfonnance St Cuthbert's 2023 Curate, Mary Yasinl. was ordalned as Priest in 2024. 2024 is the first full year of staff members recruited during 2023 for St Cuthbert's strategic development fund strategy (SDF). Associated SDF activities and costs are now fully matched to and recovered from the Durham Board of Finance funding process. In partnership with Holy Trinity Church, Darlington. the growth of children's aclivities. including °Messy Church" operates under leadership of our Children's and Families Worker. From the leadership of our Communty Music Director, the Iwo thoiTS of Gospel Choir and Soul Children Choir continue to attract new members. Meanwhile. our Operations Co-ordinator has created and enhanced processes that manage day-lo-day St Cuthbert's Church and Church Centre business and management activities. A new serviGe of monthly worship, the "Fouff. commenced in September. This is an initiative to grow Christian encounter with God in a new, modern format of worship style. Two courses of Alpha were completed in 2024. Aconfirmation service was h81d in St Cuthb8rfs Churth for 9 (nine) members of the Church community. Small Group leadership meetings instigated to support the grovrth of Small Groups at St Cuthbert's and Holy Trinity Churches. Congregation attendance at 74 latest, confirms increased worship activty at Sunday Communion servic8. AFI these activities and increasing attendance at S8rvic8s from a strong basis as St Cuthbert's Church approaches the 2025 commencement of the "Opening Doors" project. This will be a challenging project for the Church, worship Community and the town, but is an opportunity embraced by the PCC to achieve St Cuthbert's Church stated objectives and activities.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBERT'S CHURCH, DARLINGTON PCC MEMBERS REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Financial review Total income on unrestricted funds was £131.955 and unrestricted expenditure arnounted to £115,642. This expendilure figure includes £33,228 for the contribution to the DioGese, which largely provides the stipends. pensions. training and housing for the Clergy. The overall increase in unrestricted funds before transfers was £16.313. The restricted fund decreased by £78,302 due to income of £227,082, related expenditure of £310.085 and gains on investments of £4,701. This primarily relates lo net costs of £130.582 for the North Aisle Roof repairs, which included being funded by disposal of investments at £60.000 and other cash, and funds received for the SDF project and associated expenditure on the new resource church. The unrestricted fund balance at 31 December 2024 amounts to £90,625 (2023 - £74.312) and the restricted fund balance was £209,161 (2023 - £287,463). It is the policy of the Parochial Church Coundl that unrestricted funds which have not been designated for a specrfic use should be maintained at a level 8quiva18nt to b8tW8en three and six month's expenditure. The PCC members consider that resejves at this level will ensure that, in the event of a significant drop in funding, they will be abl8 to continue the Parochial Church Council's current activities while consideration Is given to ways in which additional funds may be raised. Discounting the inveslmenl spend on North Aisle Roof repairs. this level of reserves has been maintained throughout the year. Structure, governance and management The powers and dulles of PCCS are laid down by the Parochial Church Councils (Powers} Measure 1956, which defines the principal purpose. or function. of the PCC as "promoting in the parish the whole mission of the Church. the constitution of a PCC is prescribed by Part 9 of the Church Representation Rules. The Rules provide that the PCC'S business between meetings of the PCC may be transacted by its Standing Committee" but the Standing Committee- (a) may not discharge a duty of the PCC. and (b) may not exercise a power of the PCC which is subject to the passing of a resolution by Ihe PCC or compliance by the PCC with some other requirement. Under the Charities Act 2011, the PCC is also a Charity and ils members are Charity Trustees. Members of the PCC are either ex-officio. elected by the Annual Parochial Church Meeting or coOpted b8tween Annual Meetings.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBERT'S CHURCH, DARLINGTON PCC MEMBERS REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The PCC m8mbers who served during the year and up lo the date of signature of the financial statements were: Mrs S Graham Miss H Simpson Mrs J Gilmore Mr P Gilmore Miss R J Bell Mrs V Head Rev S Pri Rev T J Harvey Miss A Ducker Mrs P Dunn Mrs H E Hopper Rev M Yasini Mrs M G Trffin Ms E Paige Rev S Jay Mrs D Gibson Mr K Nicholson Mr P Benson Mr R Penn811 Ms N Chamanfar Mr R Paul (Resigned 29 August 2024) (Resigned 28 April 2024) (Resigned 28 April 2024) (Resigned 28 April 2024> (Resigned 28 April 2024) (Appointed 28 April 2024> (Appointed 28 April 2024) (Appointed 28 April 2024> (Appointed 28 April 20241 (Resigned 27 August 20241 The PCC operates Ihrough a Standing Committee, which can meet b8twe8n full meetings of the PCC. It is the only committee required by law. It has power to transact the business of the PCC betW88n meetings, subject to any directions given by the Church Council. The Parish of St Cuthbert's Darlington is part of the Diocese of Durham within the Church of England. It is siluated within the Deanery of Darlington and Auckland Archdeaconry. The PCC members report was approved by Ihe Board of PCC Members. Rev T J Harvey PCC members Mr P Benson PCC members
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBERT'S CHURCH, DARLINGTON INDEPENDENT EXAMINER'S REPORT TO THE PCC MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBERTS CHURCH. DARLINGTON I report to the PCC members on my examination of the financial statements of The Parochial Church Council of The Ecclesiastical Parish of St Cuthberfs Church, Darlington (the Parochial Church Council) for the year ended 31 December 2024. Responsibilities and basis of report As the PCC members of the Parochial Church Councll you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the Parochial Church Council's financial statements carried out under section 145 of the Charities Act 2011. In carying out my examination I have followed the Directions given by the Charity Commission under seclion 145{5){b) of the Charities Act 2011. Independent examlne¢s $taternenl Since the Parochial Church Council's gross income exceeded £250,thJO. the independent examiner must be a m8mber of a body list8d in section 145 of Ihe Charities Act 2011. 1 confirm that l am qualified lo undertake the examination because l am a member of ICAEW, which is one of the listed bodies. Your attention is drawn lo the fact that the charity has prepared the financial statements in accordance with the relevant version of Ihe Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} in preference to the Accounting and Reporting by Charities: Ststement of Recommended PractlC8 issued on 1 April 2005 which is referred to in Ihe extant regulations but has now been withdrawn. l understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Awted Accounting Practice. I have completed my examination. I confirm that no matters have com8 to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Parhla1 Church Council as required by section 130 of the Charities Act 2011. Ihe financial statements do not accord with those records; or the financial ststements do not comply with the applicable requtrements concerning the form and content of financial statements set out in the Charlties (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements givè a true and fair view, which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to which attention should be wn in this report in order to enable a proper understanding of the financial statements to be rea¢hed. Deborah Fletcher-mcvay FCA Xeinadin Accountants Trinlty House, Thurston Road Northallerton Norlh Yorkshire DL6 2NA
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBERT'S CHURCH, DARLINGTON STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted fund5 funds 2023 2023 Total 2024 2023 Notes Income from: DonatFons and legacies Charitable activities Other trading activities Investments 91.840 37,041 1,996 1,078 221,664 313.504 37,041 1,996 6.496 66,273 32,571 4.350 759 231,861 298,134 32.571 4,350 5,418 5,535 Total in¢ome 131,955 227,082 359,037 103.953 237.396 341.349 Expendlture on: Charitable 8Ctivities 115.642 310.085 425,727 108,515 224.365 332,880 Total expendlture 115.642 310,085 425,727 108,515 224,365 332,880 Net gains/(losses) on investments 4.701 4.701 15,971 15,971 Net inGomel{expendilure) 16,313 (78.302} {61.989) (4.562) 29,002 24.440 Transfers between fvnds 15,000 (15.000) Net movement in funds 16.313 (78.302) (61,989) 10,438 14.002 24.440 Reconciliation of funds: Fund balanoes at 1 January 2024 74.312 287,463 361,775 63,874 273,461 337.335 Fund balances at 31 December 2024 90.625 209.161 299.786 74,312 287,463 361,775 The statement of financial activiti8s includes all gain5 and losses recognised in the year. All income and expenditure derive from continuing activities.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBERT'S CHURCH, DARLINGTON BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Fixed assets Investments 11 123,813 179,112 Current assets Debtors Cash at bank and in hand 12 6,215 314.880 30,271 185,860 321,095 216,131 Creditors: amounts falling duè wlthln one year 13 1145.122) (33,468) Net current assets 175,973 182.663 Total assets less current liabilities 299.786 361,775 The funds of the Parochial Church Council Restricted income funds Unrestricted funds 14 209.161 90,625 287,463 74,312 299,786 361,775 The financial statements were approved by the PCC members on .. Rev T J Harvey PCC members Mr P Benson PCC m8mber8
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBERT'S CHURCH, DARLINGTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity inforniation The Parochial Church Council of The Ecdesiastical Parish of St Cuthbervs Church. Darlington is an unincorporated charily. 1.1 Accounting convention The financial statements have been prepared in accordance with the Parochial Church Council's governing document. the Charities Act 2011. FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Acrxjunting and Reporting by Charities: Statement ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021". The Parochial Church Council is a Public Benefft Entty as defined by FRS 102. The Parochial Church Council has taken advantage of ttie provisions in the SORP for charities not to prepare a statement of cash flows. The financial statements have departed from the Charities (Accounts and Reports) Regulalions 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are pr8par8d in sterling. which is the functional currency of the Parochlal Church Councll. Monetary amounts in these financial statements are rounded to th8 nearest £. The accounts have been prepared under the historical cost convention. modified to include the revauation of certain fixed asset investments. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financlal statements, the PCC members have a reasonable expectation that the Parochial Church Council has adequate resources to continue in operational existence for the foreseeable future. Thus the PCC members continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted fijnds are available for use at the discretion of the PCC members in furtherance of their charitable objectives. Restricted funds are subject to specific cA)nditions by donors or graniors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when Ihe Parothial Church Council is legally entitled to it afler any perfomiancE conditions have been met. the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recogni88d on r8C8iPt. Other donations are recognised once the Parothial Church Counal has been notified of the donation, unless performance conditions require deferral of the amwnt. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Grant income is recognised when receivable except when perfomiance conditions have not yet been met. Other trading activities incA)me is recognised when receivable by the charity.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBERT'S CHURCH, DARLINGTON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounling policie$ (Continued) Investment income, in the form of investment interest, is rerAonised when receivable by the charity. 1.5 Expendlture Resour$ expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered. Charitable expenditure compris&s those costs incurred by the charity in the delivery of its actlvities and services. 1.6 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Change5 in fair value are recognised in nel incomel(expenditure) for th8 year. Transadion costs are expensed as incurred. 1.7 Herltage assets The Church and Church Hall are not included on the balance sheet of the charity as at 31 December 2024. Both buildings are unique in terms of religious and historical signtfi¢an¢e. As such a suitsble cosl or valuation is not available and such information cannot be obtained without undue cost or effort. Income from donations and legacles Unrestricted Restricted funds funds 2024 2024 Total Unrestrlcted Restrlcted funds funds 2023 2023 Total 2024 2023 Donations and gifts Legacies 86,840 5.000 221,664 308.504 5,orxi 56,273 10,000 231.861 288,134 10,000 91,840 221,864 313.504 66.273 231,861 298,134 Donations and gift8 Planned giving Income tax received through Gift Aid and VAT Collections Donations and service5 Resourcing church fund Grants for North Aisle roof repairs Grant for restoration of sundial 35,975 35.975 34.961 34.961 31,288 8,055 11.522 31.288 8.055 11.522 173.017 9.284 9.816 2,212 9,284 9,816 2,212 231,861 173.017 231,861 39.000 39.000 9,647 9,647 86,840 221,664 308,504 56,273 231,861 288,134
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBERT'S CHURCH, DARLINGTON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from charitable activities Unrestrictsd funds 2024 Unrestrlcled funds 2023 Fees Magazine Charitable rental income 18.390 10,020 498 22.053 18.651 37,041 32,571 Income from other trading activities Unrestrlcted Unrestricted funds funds 2024 2023 Fundraising events Sundry training income 934 I.02 2,826 1,524 Other trading activities 1,996 4,350 Income from investments Unrestrlcted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Interest r&c8ivable 1,078 5.418 6.496 759 5,535 6,294
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBERT'S CHURCH, DARLINGTON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendlture on charltable aclivities 2024 2023 Insurance Church running expenses Church maintenance Magazine costs Sundry expenses Church hall running expenses Organist and choir Diocesan Quota Stationery and copier Clergy expenses Salaries and fees Church Giving and Donations Other project expenditure SDF Project 12,561 26,055 137.032 8.600 19.408 5.115 721 2.798 21,053 8,144 31,500 1.601 1,279 6,612 3,203 15,981 5,951 33,228 1,265 2.679 2,096 567 15,093 167,927 504 223,861 423.638 331.196 Support cosls 2.089 1.684 425,727 332,880 Anatysis by fund Unrestri¢ted funds Restricted funds 115.642 310.085 108,515 224,385 425,727 332,880 Support costs includes fees payable to the Independent Examiner of £1,989 (2023 - £1.684) for indep8ndent examination, accountancy and payroll fees. PCC Members During the year the following transadions were made with PCC members.. There was no remuneration received by any PCC members in the year (2023: one PCC memb8r reiVed remuneration of £1,925). There were no PCC members expenses incurred in the year (2023: £nil). 10-
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBERT'S CHURCH, DARLINGTON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Employees The averag8 monthly number of employees during the year was: 2024 Number 2023 Number Caretaker Director of music SDF Proje Total There were no employees whose annual rernuneration was more than £60.000. Gains and losses on investments Restricted funds 2024 Restricted funds 2023 Gainsl(losses) arising on: Revaluation of investments 4,701 15.971 10 Taxation The charity is exempl from taxation on its activities because all its income is applied for charitable purposes. 11 Fixed asset investments Trust funds Cost or valuatlon At 1 January 2024 Valuation changes Disposals 179,112 4,701 (60.000) At 31 December 2024 123,813 Carrylng amount At 31 December 2024 123.813 At 31 December 2023 179,112 11
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBERT'S CHURCH, DARLINGTON NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Debtors 2024 2023 Amounts falling due within one year: Other debtors 6.215 30.271 13 Creditors: amounts falllng due wlthln one year 2024 2023 Other creditors Accruals and deferred income 4.767 28.701 145.122 145,122 33,468 D8ferred income is recognised in relation to wedding deposits and grant income received in advance. 14 Restricted funds The restricted funds of the charity wmptise the unexpended balances of donations and grants h8ld on trust subject to specific CL)nditions by donors as to how they may be used. At 1 January 2024 Incoming resources Resources expended Transfers Gains and losses At31 December 2024 Chancel fijnd Clergy fund Wilson bequest fund Church purposes fund Church fabric fund Organ fijnd Clock fund General fund SDF Project 6.322 24,596 6,322 25.395 438 361 91.009 1.276 160,000) 1.990 34.275 44,606 1.008 831 46,445 69.863 35,166 131 6,655 9,115 50.921 421 (82.158) 5.000 1.519 45.145 35.587 131 6.655 9,206 173,018 (167,927) (5.000) 287.463 227,082 (310,085) 4,701 209,161 12
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBERT'S CHURCH, DARLINGTON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Restricted funds (Continued) Previous year: At 1 January 2023 Incoming resources Resources expended Transfers Gains and losses A131 Deceffiber 2023 Chancel fund Clergy fund Wilson bequest fund Church purposes fund Church fabric fund Organ fund Clock fund General fund SDF Project 6.322 37,241 6,322 24.596 541 (15.000) 1,814 84.092 1.658 5.259 91.009 40.466 993 3.147 44,606 62.080 34,855 131 7.159 1,115 2.032 311 5,751 69,863 35,166 131 6,655 9,115 (504) (223.8611 231.861 273,461 237,396 (224,365) (15,000) 15,971 287,463 The chancel fund is restricted for use on the insurance. repair and upkeep of Ihe chancel. The clergy fund is restricted for use on clergy expenses. The Wilson bequest and Church fabric funds are restricted for use on the upkeep of the fabric of the church. The church purposes fund is restricted for church expenses. The organ fund is restricted for use on the repair and upkeep of the church organ. The clock fund is restricted to expenditure on the repair and upkeep of the church clock. The general fund is for any amounts received during the year which was for a specific purpose. The SDF Project is restricted for income and expendilure on the development of the new resource church. 15 Analysis of net assets between funds Unrestrlded funds 2024 Restricted funds 2024 Total 2024 At 31 December 2024: Investments Current assetsl{liabilities) 123.813 85.348 123,813 175,973 90,625 90,625 209,161 299.786 13-
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBERT'S CHURCH. DARLINGTON NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 15 Analysis of n8t assets between funds (Continued) Unrestricted funds 2023 Restricted funds 2023 Total 2023 Al 31 December 2023: Investments Current assetsl(liabilitiesl 179.112 108,351 179,112 182,663 74,312 74,312 287,463 361,775 16 Related party transactlons There wer8 no disclosable related paty transactions during the year (2023 - none). 14-