Mersey Gateway Environmental Trust Charity number 1138743 A Company limited by guarantee number 07379879 Annual Report and Financial Statements for the year ended 31 March 2024 gmcas Greater Merseyside Community Accountancy Service
Mersey Gateway Environmental Trust Annual Report and Financial Statements for the year ended 31 March 2024 Contents Page Trustees, Annual Report 2to6 Independent Examiner's Report Statement of financial activities Balance sheet Statement of Cash flows 10 Notes to the accounts 11 to16 Prepared by the Greater Merseyside Community Accountancy Service
Mersey Gateway Environmental Trust Trustees. report Introduction During the last financial year, MGET has proven its stability and eagerness to proceed with its charitable objectives, and has had positive outcomes of several funding applications and partner projects. There have been no changes to the Board of Trustees during the reporting period. The Trust continues to employ three members of staff, who work in a hybrid model, i.e. home and office. Finances remained positive and MGET achieved its core aims for the year. Activities Throughout the year, MGET staff have continuously worked to shape ideas on how to benefit the local ecology and community. MGET started into the first year of the Environmental Services Contract 2.0, working with Anser Ecology Ltd to gather data in and around the estuary, following the successful first 5-year interval of environmental monitoring. The ESC 2.0 programme of works will see wintering bird surveys, breeding bird surveys, invertebrate surveys on the marsh of Astmoor and Widnes Warth, as well as a continuation of the NVC surveys on the marsh. The first year provided a continued data set for birds, vegetation and a wealth of new knowledge on the invertebrate life on the saltmarsh with several newly recorded species for the area. First year reporting is expected for spring 2024. To complement the Environmental Services Contract 2.0, MGET set out to develop a methodology for monitoring the aquatic ecology in the Mersey estuary, including fish, invertebrates and plankton communities. First trials showed success and the methodology has been refined over the year. Going forward, the project will include citizen scientist who will be able to participate in the data collection. Through this project, MGET is contributing to the understanding of an underrecorded element of the river Mersey. engagement sessions will take pla in summer 2024. In winter 2023, MGET took the opportunity to be involved in work around Wigg Island, including some clearance work of the old education area on Phase 2 (no public access). This included the organisation of Corporate Responsibility Days, proving very successful and engaging for the participants. Following this, passive monitoring stations were set up, collecting data of a previous largely unmonitored area from song-meters and a wildlife camera. Habitat enhancements and provision of community Spa are being planned for the next year. MGET have sought a Service Level Agreement with Halton Borough Council to contribute to the management of the saltmarshes at Widnes Warth and Astmoor, as well as areas on Wigg Island. MGET have also signed a Memorandum of Understanding with Knowsley Safari Park to engage in the conservation of native habitats around the Mersey. Governance of MGET The Board of Trustees met regularly every quarter. The meetings were a combination of face-to-face meetings with the option to join online via Teams. Cllr Stef Nelson continued to represent Halton Borough Council on the Board. David Boyer continued to represent Warrington on the Board. Staff include the Chief Exec (70 % FTE), the Biodiversity Manager (100 % FTE) and the Conservation Officer (80 % ). Living Laboratory MGET continued to provide a platform for estuary/Mersey related research interests through the Biodiversity and Research Board, which continued to meet virtually twice a year. A highlight of 2022 was the Open Day that took place in summer 2023, inviting the existing members as well as new interested parties to join us at an event on Wigg Island to showcase the work of the Trust. This event led to new members on the research board as well as new collaborations amongst its members. MGET continued to co-supervise (external supervision) Lucy Dowdall's PhD at Liverpool John Moores University. Lucy completed her third year and is finalising her thesis. A date for the viva has been set and it is expected to be completed in spring 2024. Jake Jackman (University of Salford) continued his PhD research on an eDNA approach for monitoring migratory fish in the river Mersey. He has presented his research at national conferences. MGET has been actively contributing to research funding applications with several universities (outcomes yet to be confirmed), aiming to bring international research into the Mersey estuary. MGET has continued to participate in lectures and field visits to the estuary for students, as well as offering research project on undergraduate and graduate levels. MGET has sucSsfUllY recruited a student to carry out a Creative Conservation project to capture the seasonality and atmosphere of the Mersey estuary over the next 12 months. This project aims to combine ecological and creative practices and act as a catalyst for the student to strengthen their profile in both areas. This project has been made possible through a kind donation from Moira Carter, to provide a further legacy of Paul Oldfield (late Trustee and previous employee of MGET).
Mersey Gateway Environmental Trust Trustees. report continued Stakeholders MGET continued to be an active stakeholder in the Mersey Estuary over the reporting period through active engagement with the Lower Mersey Catchment Partnership, Mersey Estuary Conservation Group, MGET'S Research Board and other individual stakeholders such as the Mersey Tidal Power Project, Universities, and landowners in the estuary. MGET retains its role in feeding into the programme concerns about adverse environmental impacts that arise from the O&M phase of the Mersey Gateway bridge. MGET has contributed to providing a basis for stakeholders to meet, exchange and connect by organising and hosting an eDNA workshop. Community Engagement MGET currently has 2 active volunteers. However, interest in projects is growing and opportunities to engage with more volunteers are being sought, e.g. through the citizen science programme to monitor the aquatic environment. MGET has continued to use social media platforms to engage community interest. The engagement has been unprecedented. This has been a success story of the reporting period, with more and more people hearing about MGET'S work. New milestones have been set for the new year. MGET have put community engagement as one the core topics for the reporting period, with several successes: MGET and Hazlehurst studio organised a pilot project to combine ecology and art & well-being, inviting local people to join on walks around the area. Following this, further funding applications have been successful to continue this in the following 12 months. MGET took the opportunity to take part in the first Halton Eco Fest and contributed to the City Nature Challenge 2023 with stalls at Runcom Hill Park and Spike Island on the weekend of the event taking place globally. MGET have reached our milestone of presenting/communicating the Trust's work throughout the year. Staff have delivered 12 talks and events to a variety of aUdIenS and continue to build on that work in the coming years. Projects MGET had a number of (partially) extemally funded project during the reporting period. Species Recovery Fund: MGET was awarded a grant from Natural England's Species Recovery Programme for capital spending on habitat improvements of ground nesting birds (skylark, lapwing, shingle breeders, e.g. terns, oystercatchers) on the marshes at Widnes Warth and Astmoor, as well as a site managed by The Conseniation Volunteers are Port Sunlight River Park. Work started in autumn 2023 to create skylark plots and a lapwing scrape on Astmoor marsh. The work will be continued in autumn/winter 2024. Plankton project: MGET was successful applying for a grant from The Environment Partnership (TEP) to buy equipment for a plankton project to gather data on the aquatic environment of the Mersey. A citizen science elements and public engagement are expected for summer 2024. Willow Tits: MGET is a partner on a Lancashire Wildlife Trust led project, surveying the area between the Mersey estuary and Greater Manchester for willow tits, with habitat enhancements planned for the following year.
Mersey Gateway Environmental Trust Trustees. report continued Achievements and performance The actions of the Trust have continued to be guided by 4 key messages through a mixture of different ways including presentations, talks, site visits and social media activities. Key message 1- Protecting, managing, conserving and improving the local environment is central to the Mersey Gateway Project MGET has continued its engagement with landowners to manage natural areas within the Mersey estuary. One example is the successful interventions from the Species Recovery Programme, which has seen habitat enhancement work on the saltmarsh at Astmoor. Key message 2 The Mersey Gateway Environmental Trust is a unique and innovative approach to environmental management and research that will bring major benefitslimprovements to the area (the Upper Mersey Estuary) Examples of achieving this message: MGET has continued to meet with the relevant stakeholders in the area and are well connected to statutory bodles and research organisations to develop new methodologies for estuarine environments, i.e. aquatic monitoring, and developing cutting edge research proposals with local universities. Key message 3 - The Mersey Gateway Environmental Trust will be aiming to bring substantial new additional funding to the area Examples of achieving this message: MGET has been awarded a number of projects and secured funding for habitat enhancement, research and community engagement. This funding is crucial for the continuous improvement of the area for wildlife and people. The Trust has been contributing discussing the delivery of Biodiversity Net Gain in the area. MGET contributed to the success of the Championing Coastal Coordination project, led by the Mersey Rivers Trust. Key message 4 - The Mersey Gateway Environmental Trust aim to develop the Upper Mersey Estuary into a 'Living Laboratory, available for future generations to enjoy, study and understand. Supporting and contributing to research continues to be an important element of the Trust's work. Examples of this include The Biodiversity and Research Board have continued to show development and leadership under the chair of Dr David Parker. The research board and its wide variety of members support the development of a management plan for the Upper Mersey Estuary. The continuous engagement and exchange with universities resulted in promising funding applications to strengthen the research in the Mersey and the North West of England. Financial and Organisational Health forecast MGET finances are healthy, with predictable declining resources. Core costs are stable and a continuation of business as usual is desired. The scaled back ESC 2.0 reduces the strain on resources and opens up opportunities for alternative methods and therefore funding streams. The economic activity of the Trust remained stable with a good outlook on activity and meeting milestones. The Trust is expected to be able to attract more funding for the coming years.
Mersey Gateway Environmental Trust Financial Review The surplus of the charity for the year amounted to £51,754 (deficit (£10,657)-2023) Reserves Policy Details of the charity's reserves are shown in note 7a and show a figure of £112,417. Risk Management The trustees actively review the major strategic, business and operational risks that the charity faces on a regular basis and acknowledge that the key risks relate to the satisfactory delivery of the environmental monitoring and management contract. Statement of Directors. responsibilities Company law requires the directors to prepare financial accounts for each year which give a true and fair view of the state of affairs of the charitable company 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 apply them consistently; observe the methods and principles in the Charities SORP make judgements and estimates that are reasonable and prudent; state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on a 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 that 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 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. Approved by the Board on C+lL Q- k21_ 2024 and signed on behalf of the directors by: Elizabeth Newton Director / Trustee
Reference and Administrative Details Mersey Gateway Environmental Trust Charity number 1138743 A Company limited by guarantee number 07379879 The trustees,who are the directors of the company for the purposes of company law, are pleased to present their report and financial statements together with the independent examiner's report for the year ended 31 March 2024. Name E.M. Newton Professor D. Norman S Bentley MBE D Inman Cllr Stefan Michael John Nelson D Boyer N Burton Mallott A Darron E Hall Position Chair Dates Method of appointment The Directors of the company are also charity trustees for the purposes of charity law and have been duly appointed by the Nominating Authorities within the boroughs of Warrington and Halton. Under the MGET Articles, such nominated members are known as Directors. Members are registered as directors of the company under Company Law and are also registered as charity trustees with the Charity Commission. The Trust is a company limited by Guarantee, registration no. 07379879 and comprises a mixture of appointed and nominated Trustees. Additional Board members may be co-opted during the period. They must retire at the next AGM, though may stand for re-election. The current mix of Directors includes expertise from backgrounds in the public, private and voluntary sectors. In addition to their knowledge and interest in wildlife, Trustees bring managerial and organisational skills in policy, strategy and financial matters. Registered address Mersey Gateway Office Forward Point Tanhouse Lane Widnes WA8 OSL Bankers The Co-operative Bank Old Market Warrington Old Market Place Warrington WA1 1QB Governing document The organisation is a company limited by guarantee, incorporated on 17th September 2010 in the name of Mersey Gateway Environmental Trust Company Number 07379879 and registered as a Charity on 1 st November 2010 Charity number 1138743. The organisation was established under a Memorandum of Association, which established the objects and powers of the company and is governed under its Articles of Association.
Reference and Administrative Details Mersey Gateway Environmental Trust Charity number 1138743 A Company limited by guarantee number 07379879 Objects of the organisation The Charity's objects are to promote for the benefit of the public the conservation protection and improvement of the physical and natural environment of the Upper Mersey Estuary and related areas and for the avoidance of doubt (and without prejudice to the generality of the above) shall include the following: To promote saltmarsh management for nature conservation purposes, including grassland management by livestock grazing and cutting, pool and creek management and annual maintenance work To assist in the implementation of the Mersey Gateway Biodiversity Management Plan including the monitoring of environmental data for aquatic ecology, surface water quality, hydrodynamics and terrestrial ecology. To manage land as a local nature reserve To advance the education of the public in the biodiversity of the Upper Mersey Estuary To promote organise and encourage study and research for the advancement of knowledge of biodiversity in the Upper Mersey Estuary To become a grant making body to other charitable organisations Public Benefit: In identifying and reviewing these priorities, aims and objectives, plus the supporting actions and activities for the year, we have been fully mindful of the guidance contained in the Charity Commission's general guidance on public benefit. We have aimed to ensure that all these planned actions and activities, agreed or noted by the TrusteeslDirectors at our regular Committee Meetings, are for public benefit. Accountant on behalf of: Greater Merseyside Community Accountancy Service St Marie's Lugsdale Road Widnes WA8 6DB
Independent Examiner's report to the trustees of Mersey Gateway Environmental Trust I report on the accounts of the charity for the year ended 31 st March 2024 set out on pages 9 to 17 Respective responsibilities of the Trustees and examiner The charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: examine the accounts under section 145 of the 2011 Act; Q to follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. and El state whether particular matters have come to my attention. Basis of Independent examinerfs statement My examination was carried out in accordance with the general Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Independent examiner's statement In connection with my examination, no matter has come to my attention: 1) which gives me reasonable cause to believe that in any material respect the requirements: Q to keep accounting records in accordance with section 386 of the Companies Act 2006; and El to prepare accounts which accord with the accounting records and to comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met" or 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Jane Williams MAAT Greater Me St Marie's Lugsdale Ro Widnes WA8 6DB ide Community Accountancy Service I¥I,,IL4
Mersey Gateway Environmental Trust Statement of Financial Activities (Including Income & Expenditure Account) for the year ended 31 March 2024 Notes 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2023 Total funds Income from: Income from donations Income from charitable activities Other incoming resources Bank interest Total incoming resources (4) (5) (6) 83 291,384 275 246,987 3,500 246,987 5,000 1,500 1,500 250,487 251,987 291,742 Resources expended Charitable activities (7) 133 200,100 200,233 302,399 Net incoming l (outgoing) resources 1,367 50,387 51,754 (10,657) Transfers between funds Net movement in funds 1,367 50,387 51,754 (10,657) Reconciliation of funds Total funds as at 01 April 2023 Total funds as at 31 March 2024 91,037 92,404 90,657 141,044 181,694 233,448 192,351 181,694 (7a) The above statement includes all gains and loses recognised during the year. All activities are regarded as continuing. Comparative figures for the previous year by fund type are shown in Note 12. The Notes on pages 12 to 17 form an integral part of these accounts.
Mersey Gateway Environmental Trust Charity number 1138743 A Company limited by guarantee number 07379879 Balance sheet as at 31 March 2024 2024 Unrestricted 2024 Restricted 2024 Total 2023 Total Fixed Assets Equipment 1,697 1,697 Cu rrent Assets Debtors and prepayments Cash at bank and in hand Total current assets (6) (7) 666 106,673 107,340 666 247,717 248,384 117 188,043 188,160 141,044 141,044 Current liabilities: amounts falling due within one year Creditors (due within one year) Total current liabilities (8) 16,633 16,633 16,633 16,633 6,466 6,466 Net Assets 92,404 141,044 233,448 181,694 Funds of the charity Restricted Funds Unrestricted funds Total Funds 141,044 141,044 92,404 233,448 90,657 91,037 181,694 92,404 92,404 141,044 The trustees (who are also the directors of the company for the purposes of company law) confirm that for the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006, and the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act the trustees acknowledge their responsiblities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts The notes on pages 12 to 17 form an integral part of these accounts. These accounts, which have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies, were approved by the trustees on ( lj tr.-loly 2024 and signed on their behalf by: Elizabeth Newton Chair of Trustees 10
Mersey Gateway Environmental Trust STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 March 2024 2024 Total 2023 Total Cash flows from operating activities: Net incomel(expenditure) per SOFA Capital (Increase)/decrease in debtors Increase/(decrease) in creditors 51,754 (1,698) (549) 10,167 59,674 (10,657) (5) 44 (15,015) (25,628) Cash flows from investing activities Investment income (6) Net increasel(decrease) in cash: Total cash as at 01 April 2023 Total cash as at 31 March 2024 59,674 188,043 247,717 (25,628) 213,671 188,043 The notes on pages 11 to 16 form an integral part of these accounts. 11
Mersey Gateway Environmental Trust Notes to the accounts for the year ended 31 March 2024 1 Basis of preparation These accounts (financial statements) have been prepared under the historical cost convention, 1.1 with items recognised at cost or transaction value, unless otherwise stated in the relevant note(s), in accordance with: (a) The Charities Act 2011 (b) The Companies Act 2006 (c) The Financial Reporting Standard applicable in the UK and the Republic of Ireland: FRS 102 (d) Accounting & Reporting by Charities: Statement of Recommended Practice (Charities SORP FRS 102) (effective January 2019) 1.2 The charity meets the definition of a public benefit entity as defined by FRS 102 The trustees consider that there are not material uncertainties about the charity's ability to continue as a going concern. 2 Accounting Policies 2.1 Fund accounting (a) Unrestricted funds are those that can be expended at the discretion of the trustees in the furtherance of the objects of the charity. (b) Restricted funds are those that may only be used for specific purposes. Restrictions arise when specified by the donor, or when funds are raised for specific purposes. (c) The purposes of the funds are shown in Note 7a. 2.2 Income (a) Income is recognised and included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the income; receipt is probable; and the monetary value can be measured with sufficient reliability. (b) Where income has related expenditure (e.g. land management), the income and related expenditure are reported gross in the SOFA. (c) Bank interest is recognised when credited to the account: (d) Gift Aid, where appropriate, is recognised in the same accounting period as the donation to which it relates. (e) Income, which is subject to conditions that the charity has yet to fulfil, or which is specifically for use in a future accounting period, is treated as deferred income. 2.3 Expenditure and liabilities (a) Expenditure is recognised on the accruals basis. (b) Liabilities are recognised as soon as there is a legal or constructive obligation to pay out resources. (c) Governance costs include the costs of preparation and examination of the statutory accounts, the cost of trustee meetings and the cost of any legal advice to trustees on governan or constitutional matters. 12
Mersey Gateway Environmental Trust Notes to the accounts for the year ended 31 March 2024 2.4 Tangible Fixed Assets (a) Tangible fixed assets are capitalised if they can be used for more than one year and cost at least £1,000. They are valued at cost or, if gifted, at their value on receipt. Rates of depreciation Building Improvements: 20 % straight line basis to nil Fixtures and fittings: 15 % straight line basis to nil Equipment: 20 % straight line basis to nil 2.5 Debtors (a) Debtors are recognised at the settlement amount due. (b) Prepayments are valued at the amount prepaid. 2.6 Cash (a) Cash comprises bank deposits repayable on demand and any short-term highly liquid investments with a maturity date of three months or less from the date of acquisition or opening of the deposit or similar account. 2.7 Creditors (a) Creditors 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. Creditors are normally recognised at their settlement amount, usually the invoice amount. (b) Accrued charges are normally valued at their settlement amount. 2.8 Taxation The charity is not liable to income tax or capital gains tax on its charitable activities. 3 Transactions with trustees and related parties No trustees received any remuneration or expenses during the accounting period. Owing to the nature of the charity's activities and the composition of the board of trustees (being drawn from local statutory and voluntary organisation), it is inevitable that transactions will take place with organisations in which a trustee may have an interest. All transactions in which a trustee may have an interest are conducted at arm's length and in accordance with the charity's financial regulations and expenditure procedures. No transactions were indentified which should be disclosed under FRS 102. 13
Mersey Gateway Environmental Trust Notes to the accounts for the year ended 31 March 2024 4 Income from donations Unrestricted funds Restricted funds Total funds Total funds Donations 83 83 5 Income from charitable activities 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2023 Total funds Halton Borough Council Natural England TEP Grant Merseytravel 227,107 19,102 778 227,107 19,102 778 263,544 27,840 291,384 246,987 246,987 6 Other Incoming resources from charitable activities Unrestricted funds Restricted funds Total funds Total funds Other Incoming Resources 1,500 1,500 3,500 3,500 5,000 5,000 275 275 Halton Borough Council are providing funding towards our Environmental Services Contract. 14
Mersey Gateway Environmental Trust Notes to the accounts for the year ended 31 March 2024 7 Ex enditure of charitable activities 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2023 Total funds Direct Costs Conservation & Research Salaries Staff Training General Administration Professional fees Subscriptions & fees Insurance IT Software & consumables Governance Costs Total resources expended 42,094 114,228 1,153 20,002 7,266 404 312 14,276 365 200,100 42,094 114,228 1,153 20,135 7,266 404 312 14,276 365 200,233 185,356 84,120 133 27,534 3,500 296 1,058 176 357 302,399 (8) 133 15
Mersey Gateway Environmental Trust Notes to the accounts for the year ended 31 March 2024 7a Movements in funds Asat 0110412023 Incoming Resources Outgoing Resources Transfers Asat 3110312024 Unrestricted funds General funds 91,037 1,500 133 92,404 Restricted funds Halton Borough Council Natural England TEP Grant 90,657 230,607 19,102 778 250,487 172,927 26,611 562 200,100 148,337 (7,510) 217 141,044 90,657 Total funds 181,694 251,987 200,233 233,448 8 Governance Costs 2024 2023 Independent Examiners, fee Annual Return Fee Trustee Meetings 300 13 52 365 300 13 357 9 Debtors and prepayments Debtors Prepayments 550 117 666 117 117 10 Cash at bank and in hand Current Account Equals Account Savings Account Cash in hand 227,636 10,082 10,000 187,272 771 188,043 247,717 11 Creditors and accruals Creditors Accruals 7,588 9,045 16,633 1,005 5,460 6,466 12 Employees Wages and salaries Employer's Nl Pension 72,669 4,387 9,531 86,587 83,550 1,680 6,988 92,218 Number of employees The average monthly number of employees during the year was: Number Number There were no employees whose annual remuneration was £60,000 or more. Key management of the charity received employee benefrts (including pension contributions) totalling 32,430 39,708 16
Mersey Gateway Environmental Trust Notes to the accounts for the year ended 31 March 2024 12 Com arative income and ex enditure b fund Unrestricted Funds 2024 Restricted Funds 2024 2023 2023 Income from: Income from donations Income from charitable activities Other incoming resources Bank interest Total incoming resources 83 27,840 275 246,987 4,278 263,544 1,500 1,500 28,198 251,265 263,544 Expenditure on: Charitable activities 133 200,100 302,399 Net incoming l (outgoing) resources 1,367 28,198 51,165 (38,855) Transfers between funds Net movement in funds 1,367 28,198 51,165 (38,855) Reconciliation of funds Total funds as at 01 April 2023 Total funds as at 31 March 2024 91,037 92,404 62,839 91,037 90,657 141,822 129,512 90,657 (7a) 17