**REGISTERED CHARITY NUMBER: 1138292**
## **Report of the Trustees and**
## **Financial Statements**
## **for the Year Ended 31st March 2024**
## **for**
## **THE IRON BRIDGE TRUST**
Hilden Park Accountants Limited Chartered Accountants & Statutory Auditors Hilden Park House 79 Tonbridge Road Hildenborough Tonbridge Kent TN11 9BH
**THE IRON BRIDGE TRUST**
**Contents of the Financial Statements FOR THE YEAR ENDED 31ST MARCH 2024**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Report of the Independent Auditors**|5|to|8|
|**Statement of Financial Activities**||9||
|**Balance Sheet**||10||
|**Notes to the Financial Statements**|11|to|17|
|**Detailed Statement of Financial Activities**||18||
**THE IRON BRIDGE TRUST**
**Report of the Trustees FOR THE YEAR ENDED 31ST MARCH 2024**
The trustees present their report with the financial statements of the charity for the year ended 31st March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The purpose of the charity is to assist those in need by reason of youth, age, ill health, disability or social or economic disadvantage by providing grants and funding to purchase goods and services as set out in its governing document dated 1st September 2010.
The main activities undertaken in relation to those purposes during the year ended 31st March 2024 has been to provide grants totalling £98,000 (2023: £87,000) as detailed in note 4 to these financial statements.
The trustees meet during the financial year to decide how best it can assist those in need and to decide what charities and organisations that grants should be provided to in order to further the charity's purpose for the public benefit.
The purpose of the charity is to assist those in need by reason of youth, ill health, disability or social or economic disadvantage by providing grants and funding to purchase goods and services. The objectives are fulfilled by the trustees making grants or donations to those in need which is the main activity of the charity.
## **Public benefit**
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **ACHIEVEMENT AND PERFORMANCE**
We are proud to report that the grants that The Iron Bridge Trust has provided during the year to 31st March 2024 have assisted the many organisations that the trustees have agreed to support. The hard work of the many people in those organisations have helped elderly people, vulnerable individuals, those who are socially and economically disadvantaged and those with disabilities. The grants provided have therefore helped in supplying many needs.
The wide range of grants mean we have helped charities and organisations that provide grief counselling to children, specialist support for families with disabled children, training and support for mobility for disabled children and adults, residential breaks for vulnerable children, emotional and well-being support for the deafblind community, IT learning support for those with disabilities and the list goes on.
## **FINANCIAL REVIEW**
## **Financial position**
Investment income received during the year totalled £379,984 (2023: £344,113).
Total expenditure for the year was £338,432 (2023: £288,305) with the increase due to higher management fees, bank charges and repairs required to be undertaken on the investment properties. Total grants paid in the year were £98,000 compared to £87,000 in the prior year.
Gains on investments during the year totalled £10,964 (2023: £271,001), which was made up of realised gains of £10,964 on fixed asset investments (2023: Nil). The prior year figure is made up of unrealised gains of £7,465 and £263,536 on fixed asset investments and investment property respectively.
The surplus for the year totalled £52,516 (2023: £326,809).
The balance of unrestricted funds at 31 March 2024 was £4,594,423 (2023: £4,541,907).
Page 1
**THE IRON BRIDGE TRUST**
## **Report of the Trustees FOR THE YEAR ENDED 31ST MARCH 2024**
## **FINANCIAL REVIEW Reserves policy**
The trustees of The Iron Bridge Trust have agreed that the charity should hold enough reserves to cover at least six months of expenditure in order to not have cashflow concerns. This would equate to approximately £170,000.
At the year end the charity's free reserves were £4,594,423 (2023: £4,541,907) which will be used to further the charity's objectives.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
If a new trustee is required the Board will look to appoint someone who hold the values required in order to assist those in need across all areas that the charity supports.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1138292
## **Principal address**
Rivendell Parkfield Sevenoaks Kent TN15 0HX
## **Trustees**
J Bennett Dr Y H Bennett Dr S Bennett R Bennett A Bennett Miss F Bennett
J Bennett and Dr Y H Bennett held title to property belonging to the charity on the date the report was approved.
## **Auditors**
Hilden Park Accountants Limited Chartered Accountants & Statutory Auditors Hilden Park House 79 Tonbridge Road Hildenborough Tonbridge Kent TN11 9BH
Page 2
**THE IRON BRIDGE TRUST**
## **Report of the Trustees FOR THE YEAR ENDED 31ST MARCH 2024**
## **REFERENCE AND ADMINISTRATIVE DETAILS Bankers**
Handelsbanken 1st Floor 50-52 London Road Bligh's Meadow TN13 1AS
## **Investment Advisors**
Interactive Investor Services Limited 201 Deansgate Manchester M3 3NV
## **Property Advisors**
Savills 72 High Street Sevenoaks Kent TN13 1JR Sandstone UK Property Management 14 Coates Crescent Edinburgh EH3 7AF
## **EVENTS SINCE THE END OF THE YEAR**
Information relating to events since the end of the year is given in the notes to the financial statements.
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements 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 charity for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
Page 3
**THE IRON BRIDGE TRUST**
**Report of the Trustees FOR THE YEAR ENDED 31ST MARCH 2024**
Approved by order of the board of trustees on 27th March 2025 and signed on its behalf by:
Dr Y H Bennett - Trustee
Page 4
**Report of the Independent Auditors to the Trustees of The Iron Bridge Trust**
## **Opinion**
We have audited the financial statements of The Iron Bridge Trust (the 'charity') for the year ended 31st March 2024 which comprise the Statement of Financial Activities, the Balance Sheet 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 (United Kingdom Generally Accepted Accounting Practice).
## In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 31st March 2024 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **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 Auditors' 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 trustees' 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 charity'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 trustees 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 Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
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 this gives rise to a material misstatement in the financial statements themselves. 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.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
Page 5
**Report of the Independent Auditors to the Trustees of The Iron Bridge Trust**
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Page 6
**Report of the Independent Auditors to the Trustees of The Iron Bridge Trust**
## **Our responsibilities for the audit of the financial statements**
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
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 a Report of the Independent Auditors 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.
We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity and determined that the most significant which have a direct material effect on the amounts and disclosures in the financial statements are the Charities Act 2011 and Charities SORP FRS102.
We also identified other laws and regulations which do not have a direct effect on the amounts and disclosures in the financial statements, but which compliance is fundamental to the entity's operations including Data Protections Laws (including UK General Data Protection Regulation (GDPR) and enquires were made with management regarding procedures in place to ensure compliance.
Having reviewed the laws and regulations applicable to the charity, we designed and performed audit procedures to obtain sufficient appropriate evidence. Specifically we:
- Assigned an engagement team to the audit that collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.
- Enquired with management on any non compliance with laws and regulations.
- Reviewed the legal expense accounts and legal correspondence to identify potential litigation or claims involving the entity.
- Reviewed internal policies and procedures and external guidance.
- Reviewed the completeness and accuracy of associated disclosures made in the financial statements.
We assessed the susceptibility of the charity's financial statements to material misstatement and fraud and in doing so:
- Considered whether there were areas of the financial statements particularly susceptible to fraud and enquired with management as to any known or suspected instances of fraud and their assessment of fraud risk.
- Considered whether management have incentives and opportunities to manipulate financial results and determined the key audit risks related to completeness of income, management override of controls and the valuation of investment property.
- The risk of management override of controls has been reviewed and audited, including through testing accounting estimates and other adjustments for appropriateness. Furthermore, analytical procedures were undertaken to identify any unusual or unexpected relationships and transactions and the rationale behind these was investigated.
- The risk of completeness of income has been reviewed and audited, including through substantive testing, along with a review of the appropriateness of the accounting policy concerning income recognition and completing detailed cut off testing either side of the balance sheet date.
- Designed and performed audit procedures to obtain sufficient appropriate evidence including substantive testing in relation to the valuation of investment property.
The audit has been planned and performed in such a way as to best identify risks of material misstatement, however the inherent limitations of audit procedures means that there remains 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, override of controls, forgery, collusion, omission or misrepresentation.
Page 7
**Report of the Independent Auditors to the Trustees of The Iron Bridge Trust**
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 Report of the Independent Auditors.
## **Use of our report**
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Hilden Park Accountants Limited Chartered Accountants & Statutory Auditors Hilden Park House 79 Tonbridge Road Hildenborough Tonbridge Kent TN11 9BH
27th March 2025
Page 8
**THE IRON BRIDGE TRUST**
## **Statement of Financial Activities FOR THE YEAR ENDED 31ST MARCH 2024**
|Notes
**INCOME AND ENDOWMENTS FROM**
Investment income
2
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
Charitable activities
**Total**
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**2024**
**Unrestricted**
**funds**
**£**
**379,984**
**77,609**
**260,823**
**338,432**
**10,964**
**52,516**
**4,541,907**
**4,594,423**|2023
Total
funds
£
344,113|
|---|---|---|
|||68,007
220,298|
|||288,305|
|||271,001|
|||326,809
4,215,098|
|||4,541,907|
The notes form part of these financial statements
Page 9
## **THE IRON BRIDGE TRUST**
## **Balance Sheet 31ST MARCH 2024**
|Notes
**FIXED ASSETS**
**Investments**
Investments
8
Investment property
9
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
10
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
11
**NET ASSETS**
**FUNDS**
13
Unrestricted funds
**TOTAL FUNDS**|**2024**
**Unrestricted**
**funds**
**£**
**-**
**4,620,150**
**4,620,150**
**415,061**
**(29,207)**
**385,854**
**5,006,004**
**(411,581)**
**4,594,423**
**4,594,423**
**4,594,423**|2023
Total
funds
£
196,516
4,620,150
4,816,666
187,135
(29,207)
157,928
4,974,594
(432,687)
4,541,907
4,541,907
4,541,907|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 27th March 2025 and were signed on its behalf by:
Y H Bennett - Trustee
The notes form part of these financial statements
Page 10
**THE IRON BRIDGE TRUST**
**Notes to the Financial Statements FOR THE YEAR ENDED 31ST MARCH 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Rents received are recognised in the period in which they relate.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.
The charity only has one charitable activity to which direct and support costs are allocated.
Support costs are those that assist with the work of the charity but do not directly relate to the charitably activity and include governance costs.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Investment property**
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
continued...
Page 11
**THE IRON BRIDGE TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST MARCH 2024**
|**2.**
**INVESTMENT INCOME**
Rents received
**3.**
**RAISING FUNDS**
**Raising donations and legacies**
Management fees
**4.**
**GRANTS PAYABLE**
Charitable activities
The total grants paid to institutions during the year was as follows:
Grants paid
Breakdown of grants paid based on charitable activity:
Elderly care
Caring for those with physical disabilities
Caring for those with mental disabilities
Caring for vulnerable children
Support for carers|**2024**
**£**
**379,984**
**2024**
**£**
**77,609**
**2024**
**£**
**98,000**
**2024**
**£**
**98,000**|**2024**
**£**
**379,984**
**2024**
**£**
**77,609**
**2024**
**£**
**98,000**
**2024**
**£**
**98,000**|**2024**
**£**
**379,984**
**2024**
**£**
**77,609**
**2024**
**£**
**98,000**
**2024**
**£**
**98,000**|2023
£
344,113
2023
£
68,007
2023
£
87,000
2023
£
87,000|2023
£
344,113
2023
£
68,007
2023
£
87,000
2023
£
87,000|
|---|---|---|---|---|---|
|||||||
|||||||
||||**2024**||2023|
||||**£**||£|
||||**14,000**||7,000|
||||**35,500**||31,500|
||||**16,500**||22,000|
||||**23,500**||14,500|
||||**8,500**||12,000|
|||||||
||||**98,000**||87,000|
|||||||
continued...
Page 12
**THE IRON BRIDGE TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST MARCH 2024**
## **5. SUPPORT COSTS**
|Charitable activities
Support costs, included in the above, are as follows:
Bank charges
Insurance
Light and heat
Council tax
Sundries
Repairs and renewals
Auditors' remuneration
Accountancy
Legal fees|Finance
£
**36,466**
|Governance
Other
costs
£
£
**73,022**
**53,335**
**2024**
Charitable
activities
**£**
**36,466**
**10,180**
**92**
**1,872**
**-**
**60,878**
**6,940**
**2,000**
**44,395**
**162,823**|Totals
£
**162,823**|
|---|---|---|---|
||||2023
Total
activities
£
**23,469**
**7,712**
**76**
**721**
**1,816**
**65,686**
**6,500**
**1,900**
**25,418**|
||||**133,298**|
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023.
## **Trustees' expenses**
One trustee was reimbursed expenses totalling £3,643 during the year. Of these expenses, £2,643 related to investment property costs and the remaining £1,000 related to a reimbursement of a grant payment to a charity. There were no trustees' expenses paid in the prior year.
## **7. NET GAINS ON INVESTMENTS**
Breakdown of net gains on investments is as follows:
||**2024**
2023|**2024**
2023|
|---|---|---|
||**£**
£||
|Unrealised gains on investment property|**-**
263,536||
|Unrealised gains on fixed asset investments|**-**|7,465|
|Realised gains on fixed asset investments|**10,964**|-|
||||
||**10,964**
271,001||
||||
continued...
Page 13
**THE IRON BRIDGE TRUST**
**Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST MARCH 2024**
## **8. FIXED ASSET INVESTMENTS**
There were no investment assets outside the UK.
Cost or valuation at 31st March 2024 is represented by:
|Valuation in 2019
Valuation in 2020
Valuation in 2021
Valuation in 2022
Valuation in 2023
Valuation in 2024
**9.**
**INVESTMENT PROPERTY**
**FAIR VALUE**
At 1st April 2023
and 31st March 2024
**NET BOOK VALUE**
At 31st March 2024
At 31st March 2023
Fair value at 31st March 2024 is represented by:
Valuation in 2019
Valuation in 2021
Valuation in 2022
Valuation in 2023|**Listed**
**investments**
**£**
**81,000**
**53,397**
**24,743**
**29,911**
**7,465**
**(196,516)**
**£**
**4,620,150**
**4,620,150**
4,620,150
**£**
**3,630,000**
**566,612**
**160,002**
**263,536**
**4,620,150**|
|---|---|
continued...
Page 14
**THE IRON BRIDGE TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST MARCH 2024**
|**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2024**
**£**
Bank loans and overdrafts (see note 12)
**21,107**
Other creditors
**8,100**
**29,207**
**11.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
**2024**
**£**
Bank loans (see note 12)
**411,581**
**12.**
**LOANS**
An analysis of the maturity of loans is given below:
**2024**
**£**
Amounts falling due within one year on demand:
Bank loans
**21,107**
Amounts falling between one and two years:
Bank loans - 1-2 years
**21,107**
Amounts falling due between two and five years:
Bank loans - 2-5 years
**63,320**
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
**327,154**
The Handelsbanken loan is secured against property owned by the charity.
**13.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.4.23
in funds
£
£
**Unrestricted funds**
General fund
**4,541,907**
**52,516**
**TOTAL FUNDS**
**4,541,907**
**52,516**|2023
£
21,107
8,100
29,207
2023
£
432,687
2023
£
21,107
21,107
63,320
348,260
At
31.3.24
£
**4,594,423**|2023
£
21,107
8,100
29,207
2023
£
432,687|2023
£
21,107
8,100|
|---|---|---|---|
||||29,207|
|||2023
£
21,107||
|||21,107||
|||63,320||
||**4,594,423**|||
Page 15
continued...
**THE IRON BRIDGE TRUST**
**Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST MARCH 2024**
## **13. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
**379,984**
**(338,432)**
**TOTAL FUNDS**
**379,984**
**(338,432)**
**Comparatives for movement in funds**
At 1.4.22
£
**Unrestricted funds**
General fund
4,215,098
**TOTAL FUNDS**
4,215,098
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
344,113
(288,305)
**TOTAL FUNDS**
344,113
(288,305)||Gains and
losses
£
**10,964**
**10,964**
Net
movement
in funds
£
326,809
326,809
Gains and
losses
£
271,001
271,001|Movement
in funds
£
**52,516**
**52,516**
At
31.3.23
£
4,541,907
4,541,907
Movement
in funds
£
326,809
326,809|
|---|---|---|---|
|||||
|||||
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions other than the trustees' expenses disclosed in note 6. There were no related party transactions in the year ended 31 March 2023.
Page 16
continued...
**THE IRON BRIDGE TRUST**
**Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST MARCH 2024**
## **15. POST BALANCE SHEET EVENTS**
In July 2024 a new bank loan was taken out, with the previous bank loan included in these financial statements repaid in full.
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**THE IRON BRIDGE TRUST**
## **Detailed Statement of Financial Activities FOR THE YEAR ENDED 31ST MARCH 2024**
|**INCOME AND ENDOWMENTS**
**Investment income**
Rents received
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Management fees
**Charitable activities**
Grants to institutions
**Support costs**
**Finance**
Bank charges
**Other**
Insurance
Light and heat
Council tax
Sundries
Repairs and renewals
**Governance costs**
Auditors' remuneration
Accountancy
Legal fees
Total resources expended
**Net income before gains and losses**
**Realised recognised gains and losses**
Revaluation gains/losses fixed asset investments
**Net income**|2024
£
**379,984**
**379,984**
**77,609**
**98,000**
**36,466**
**10,180**
**92**
**1,872**
**-**
**60,878**
**73,022**
**6,940**
**2,000**
**44,395**
**53,335**
**338,432**
**41,552**
**10,964**
**52,516**|2023
£
344,113|
|---|---|---|
|||344,113
68,007
87,000
23,469
7,712
76
721
1,816
65,686|
|||76,011
6,500
1,900
25,418|
|||33,818|
|||288,305|
|||55,808
-|
|||55,808|
This page does not form part of the statutory financial statements
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