CHARITY REGISTRATION NUMBER: 1140460 Newport People First Unaudited Financial Statements 31 March 2025 WALTER HUNTER & CO LIMITED Chartered accountants 24 Bridge Street Newport South Wales NP20 4SF
Newport People First Financial Statements Year ended 31 March 2025 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements 10
Newport People First Trustees, Annual Report Year ended 31 March 2025 The trustees present their report and the unaudited financial Statements of the eharity for the year ended 31 March 2025. Reference and admlnlstrative details Reglstered charity name Newport People First Charlty registration number 1140460 Prlnclpal office 2E Hill Street Studios Commercial Street Newport South Wales NP20 1LN The trustees Kelly Ann Ball ex Perry Samanthan Joanne Mitchell Rhiannon Currie Andrew James Wright Linda Pauline Pery Jo Blackley ndham Samuels Conniff TrL*slee and Chair Trustee and Treasurer Trustee Trustee Trustee Trustee Trustee Trustee Independent examlner Mr Jonathan Rhodes Bsc BFP FCA Waller Hunter & Co Limited 24 Bridge Street Newport South Wales NP20 4SF
Newport People First Trustees, Annual Report (contlnuedj Year ended 31 March 2025 Structurep governance and management The constitution was adopted on 151 October 1997, amended by speci81 resolutions on 3td November 2005 and 2nd December 2010. The organisalion registered as a charity on 16th February 2011. The governing document of the organisalion 1$ f(s constr(ution. The Charty constilules an Unincorporated Association. Structure.. The Trustee board manages the organisation. The electlon of trustees.. According to the Constitution of Newport People First {Adopted.' October 1997 as amended 3Td November 2005 and 2nJ December 20101, members of the Charity in a general meeting shall elect the Officers and the other Trustees. The Trustees may appoint any person who is willing to act as a Trustee. They may also appoint Trustees to act as officers. Each of the Tru51ees shall retire with effect from the conclusion of the 8nnual general meeting next after his or her appointment bul shall be eligible for reélection at that annual general meeting. No-one may be elected a Trustee or an Officer al any annual general meetsng unless prior to the meeting the Charty is given a nOte that". lal is signed by a mèmber enlilled lo vote at the meeting., Ibl slates the member's intention lo propose the appointment of a person as a Trustee or as an officer". Icl is syned by the person who is to be proposed to Show his or her willingness lo be appointed. The appointment of a Trustee, whether by the Charity in general meeting or by the other Trustees, must not cause the number of Trustees to exceed any nurnber fixed in accordance with this )nslitulion as the maximum number of Trustee5. The Trustees may not appoint a person to be an Officer rf a person has already been elected or appointed.
Newport People First Trustees. Annual Report (continued) Year ended 31 March 2025 Objgdives and activitles Newport People Flrst Objects.. To promote the rights of people wf(h progressive leaming (learning disability) within the City of Newport and surrounding areas. IHereafter the members of Newport People First wi51 be referred to as'members'l. 11. To develop awareness and capability so Ihat'members. may aetively participate in society, by.. al Encouraging 'members' lo develop seK- advocacy skills, lake responsibility for themselves and become more independent. b} Making sure that 'members' are involved in the planning and development of the services they receive. l Liaising with slatulory aulhorilies, voluntary organisalions and seryice providers to help identify and meet the needs of people wf(h progressive fearning. d) Assisting 'members' of the organisalion and other people with progressive learning to access their rights by creating awareness of leaming disabilrty issues. campaigning and being involved in the People First Movement. What is Newport People First? Newport People First or NPF is a self-advoca¢y organisation, run for and by people with leaming disabilities lor progressive leaming as we are preferred lo be called). NPF is a member led organisation and encourages its members lo volunteer at NPF. The Main Activities of NPF: We plan and hold regular meetings where we are able to discuss matters which are important to us. We gain skills lo become better self- advocates, including the use of social media. We campaign for the rights of people with progressive leaming on a local and national level. We encourage OUT members lo participate in Strategic Planning meetings, and Local Authority Service User Groups. We invite speakeTS to come to our groups, meètings and we ask them questions about issues and matters that are important to us. We participate (by attending or writingl in local and national ConsuallonS to addres5 issues that affect people with a disability. We ¢)ffer information and supporvtraining in learning disability awarene$s to seNice providers and communty groups. We increase members. skills, confidence and 5elf-esleem through individual and group support. We create opportunf(ies for friendships and relationships. We offer advice lo members about our rights and responsibilities or any other issues that affect us We leam lo be more independent and empower members lo do things for themselves, like having a better social lrfe We transfom inaccessible infomiation into a more accessible infrxmalion in drfferenl creative ways. We are a Hale Crime reporting centre, therefore we work ¢losely with the police. We encourage members to use public and community services, independently if possible. We work together wf(h other self-advocacy groups to make our voice stronger
Newport People First Trustees. Annual Report (¢ontthu¢o) Year ended 31 March 2025 Achievements and perforniance How we work: Membership is open for all people wf(h progressive learning {learning disability) living in Newport City or the surrounding area. We work as a group, this means that we help people (members of NPF and the community of people with progressive leamingl to have an individual and colleclNe voice on the issues that are important to them. During the year to March 2025 our aetivi(ies included.. ProvKling opportunities for social gatherings to give members an opportunty to m*1, socialiso and discuss matters that are important to them. Taking part in regular walks with other organisatiorls. including ltte Gwenl Wildlrfe Trust, encouraging members to lead an actThie lifestyle, expanding their skills involved in planning events and promoting social interaction. Holding digital training sessions for members to expand their IT skills 50 that they can actsss online aclFvfiies Organising trips lo local destinations enabling membets to have new experiences and Providing opportunities to socialise, to talk and lo be part of the wider local community Participating in projects run by other organE?lions on topics that are important lo our members. We participated in a project called My Brilliant Lrfe in conjunction with Cynon Taf People First and other People First Groups. We also parti¢ipaled in a project lo train Medical Students in Conjunction with Cardrff People First and other People First Groups. Our representative attended meetings of the All Wales People First National Council lo discuss issues on a local, regional and national level. We continued lo nerk with otheT charf(ies and organisalions including other People First groups, Gwenl Wildlife Trust, All Wales People First, Digi(al Communities Wales, POBL. Newport Rising, The Place, Rubicon Dance studios, Learning Disability Wales, Able Radio, Swansea Bay NHS and also particpated in a research project l TRAC I with the University of South Wales. We were able to discuss matters that a important to those wth progressive leaming and Influen the design of services used by our membership. We continued lo provide training in leaming disability awareness and participated in activrties for nurse training and research. NPF offered support lo members lo volunteer in the office. NPF ensured that InaC$s1b1e information was transformed into a more accessible way fo¥ our members. Our social media infomalion, and letters, are designed lo be accessible. We were proud to celebrate the 30th Anniversary of our organisation and invrted many guests to an event to lebrate wf(h us. Guests heard members speak about the impact th81 ou¥ charity has had on their lives reSu1ng in increased confidence to speak up about things that are important lo them, providing opportuni(ies lo widen their participation in their local communities and providing opportunf(ies for s(1a1 inclusion and friendship.
Newport People First Trustees, Annual Report {contlnuedJ Year ended 31 March 2025 Establishing relationshlps with other oryanisations We aim lo engage with many organisalions lo expand the nthorks of our members. We also continue to offer training sessions in learning disability awareness lo businesses, medical facilities and other charities and support organisats'ons. Our trainers are people with progressive learning. FINANCIAL REVIEW Newport City Council continued lo support our members. We wntinued to receive funding from the Lottery Community fund. We received a one off payment for p8rticipalion in a joint project with Cynon Taf People First RISK MANAGEMENT The Tiuslees meet regularfy and have discussed and reviewed risks that are signrficant to Newport People First to ensure the safety and safeguarding of the Char'ty's assets, staff and those who benefit from ils work. Publlc Benellt The Iruslees confirm that they have referred to the guidance contained in the Charity Commission's general guidanee on public benefrt when reviewing the Charity's aims and objectives and in planning future actThifiies. Future Plans Newport People First are consulting with member beneficiaries alvI future projects and are seeking further grant funding to secure the future of the charity.
Newport People First Trustees, Annual Report (¢ontrnuedJ Year ended 31 March 2025 Responsibilities ot the trustees The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulations. The law applicable lo charities in England and Wales requires the trust to prepare financial statements for each financial year. Under that law the Iruslees have elected lo prepare the financial slalements in accordan wi(h United Kingdom Generally Accepted Accounting Practi Iuniled Kingdom Accounting Standards and applicable lawl. The trustees must not approve the financial statements unless they are salisfiod that they give a true and fair view of the 5tste of affairs of the charty and the income and expenditure of the ¢harty for that period. In preparing these financial slalemenls, the trustees are Tequired lo.. select suf(able accounting policies and then apply them eonsistenlly; observe the methods and principles in the Chari(ies SORP., make judgements and accounting estimates that are reasonable and prudent,. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charitys transactions and dIa0$e with reasonable accuracy at any lime the financial position of the charity and enable them lo ensure that the financial statements comply with the Charities Act 2011 and the Charity Sl8lement of Remmended Practice {FRSSE} 2015., safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other ifregularities., the maintenance and integrity of the Charity's information included on the Charity's website. 29 Jan 2026 The trustees, annual report was approved on board of trustees by.. and signed on beha of the Ms K Ball Trustee and Chair Person MrAPery Trustee and Treasurer
Newport People Flrst Independent Examinerfs Report to the Trustees of Newport People First Year ended 31 March 2025 I report to the trustees on my examination of the financial statements of Newport People Fifst I'lhe ¢harity'} for the year ended 31 Mah 2025. Responslbilities and basls of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 I'lhe Act'i. I report in re5pert of my examination of the charity's financial statements carried out under section 145 of the 2011 Ad and in carrying out my examination I have followed all the applieable Direclv)ns given by the Charity Commission under section 14515}Ibl of the Ad. Independent examiner's statement I have completed my examination. I confimi that no material matters have come lo my attention in connection wi(h the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as reouired by section 130 of the Act.. or the financial statements do not accord with those records., or the financial st8lemenls do not comply with the applicable requirements conMIng the form and conlenl of accounts sel out in the Charities (Accounts and Reportsl Regulations 2008 other than any requirement that the accounts give a 'lrue and fair, view which is not a maller c¢n5idered as part of an independent examination. I have no COnrn8 and have across no other matters in eonnection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. J ILJ.. Mr Jonathan Rhodes Bsc BFP FCA Independent Examiner Walter Hunter & Co Limited 24 BrKlge Street Newport South Wales NP20 4SF
Newport People First Statement of Flnancial Activities Year ended 31 March 2025 2025 Restricted funds Total funds Total funds 2024 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities Investment in¢om¢ 81 25,897 81 25.897 340 25,988 11 Total incom9 25.987 25.987 26,339 Expenditure Expenditure on charitable aclNities Total expenditure 1,127 27,608 28,735 28,735 28,639 28,639 1,127 27,608 Net expendituro and net movement in funds {1,1271 11,621) {2.7481 12,300} Reconci1Satlon of funds Total funds brought fOard Total funds carrled fonvard 18.800 32,828 51.628 53,928 51,628 17.673 31,207 48,880 The statement of financial activrties includes all gains and losses recognised in the year. All income and expendrture derwe from continuing aclivi(ies. The notes on pages 10 to 19 form part ol the$9 financial statements.
Newport People First ststement of Financlal Position 31 March 2025 2025 2024 Note Fixed assets Tangible fixed assets 15 6,671 Current assets Cash al bank and in hand 46,770 46,610 Creditors: amounts falling due viithin ono year Accruals and deferred incorne 1,653 44,957 Net current assets 43,336 48,880 48.880 Totsl assets less current liabilities 51,628 51,628 Net assets Funds of the charity Restricted funds Unreslricled funds 31.207 17.673 32,828 18,800 Total charity funds 16 48,880 51,628 Thes cias statements were approved by the board of trustees and authorised for issue on 29 5. 1126 . and are signed on behalf of the board by.. £&ii Ms K Ball Trustee and Chair Person MrA PeTry Trustee and Treasurer The notss on page8 10 to 19 fom) part of these finan¢lal statsmgnts.
Newport People First Notes to the Financial Statements Year ended 31 March 2025 General Infomation The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office 15." 2E Hill Street Studios, Commercial Road, Newport. NP20 1 LN. statement of compllance These financial ststements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (Charities SORP IFRS 10211 and the Charities Act 2011. Accounting policies Basis of preparatlon The particular accounting policies adopted are set out below. Accounting Convention The financial statements are prepared on a going concem basis, under the historical cost convention. The financial statements are prepared in slerfing which is the functional currency of the enlty. The figures in the financial statements are rounded to the nearest whole pound. Incomlng Resources Revenue grants, donations, voluntary and other income are credited lo the Statèment of Financial Activities in the year in which they are received. Rpcognition of Llabilities Liabilities are recognised on the accruals basis in accordance with normal accounting principles. Rg$ources Expended The policy for including items within the relevant activity categories of resources expended is to recognise them when there is a legal and constructive obligation committing the charty to the expenditure as described in the Financial Reporting Standards S Snd 12. In particular the policy for including items within costs of generating funds, charitable activities and govemance costs is.. Costs of Generating Funds Costs are included in generating income resources from 811 Sour other than that from undertaking charitable activities or governan. 10-
Newport People First Notes to the Financial Statements Icontsnuod) Year ended 31 March 2025 Accounting policles (contlnuod) Costs of Charltable Activities Costs included in charitable aclNilies comprise all resources applied lo the charity in undertaking f(s work lo meet ils charitable objectives as opposed to the costs of raising the funds to finance these activities and governance costs. Allocation of Costs within Types of Resources Expended The methods and principles fr)r the allocation and apportionment of all costs between the different activity categories of resources are based on directly attributable costs. Golng concern The charity is entirety dependent on continuing grant aid and as a consequence the going concern basis is also dependent on the continuing grant aid. Dl$closure exemptions The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available ijnder paragraph 1.12 of FRS 102.. lal No cash flow statement has been presented for the charty. Ibl Disclosures in respect of financial instruments have not been presented. Judgements and key sources of estimation uncertainty The preparation of the financial stslernents requires management lo make judgernenls, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors. including expectations of future events that are believed lo be reasonable under the circumstsnces. Fund accounting Unrestricted funds are available for use at the discretion of the Iruslees to fijrther any of the charity's purposes. Restricted funds are subjected lo reslriclions on their expenditure declared by the donor or through the temis of an appeal, and fall into one o* t0 sub-classes.. restri¢led income funds or endowment funds. 11
Newport People First Notes to the Financial Statements {continu¢dJ Year ended 31 March 2025 Accounting policles {¢ontlnuffd) Incoming resources All incoming resources are included in the slalemenl of financial activities when enlillemenl has passed to the charity., it is probable that the economic benefrts as50cialed with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income- income from donations or grant5 15 recognised when the is evidence of entitlement lo the gift, receipt is probable and ils amount can be measured reliably. legacy income is recognised when receipt is probable and enlrtlement is established. income from donated goods is measured al the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost lo the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts S included for the contribution of general volunteers. income from contracts for the suppty of services is recognised with the delNery of the contracted servi¢e. This is classified as unrestricted funds unless there is a conlraclual requirement for it lo be spent on a particular purpose and returned rf unspent, in which case il may be regarded as restricted. R9s0urces expendgd Taxation As a registered charty, the charity is exempl from income lax to the extent tha ils income and gains are applicable lo charitsble purposes only. Value added lax is not recoverab by the chorily and is therefore included in the relevant costs in the Slalement of Financial Aelivilies. Wlnding Up or Dissolutlon of the Charity If upon winding up or dissolution of the charity there remains any 8ssels, after the satisfaction of all debts and liabilitiés, the assets represented by the accumulated fund shall be transferred lo some other charitable body or bodies having similar objects to the charity. Tangible assets All fixed assets are initially recorded al cosl. Items below £100 are not capilalised. For rtems purchased from restricted funds and capilalised the provision for depreciation is transferred to unrestricted funds in the year of purchase. Depreciation Depreciation is calculated so as to write the cost or valuation of an asset, less its residual value, over the useftjl economic life of that asset as follows.. Computer Equipment 10Qh straight line per annum on cost 12-
Newport People First Notes to the Financial Statements (¢ontlnuedJ Year ended 31 March 2025 Donatlons and legaclgs Unrestricted Funds Restricted Total Funds Funds 2025 DonalK)n5 81 81 Unrestricted Funds Restricted Total Funds Funds 2024 DonalK)ns 340 340 Charitable actlvltles Restricted Total Funds Funds 2025 Restricted Total Funds Funds 2024 Newport Cty Council- Advocacy Service National Lottery Community Fund Cwm Taf People First - My Brilliant Life 13,528 13,528 12.500 12,500 11.156 11,156 13,488 13.488 1,213 1,213 25,897 25.897 25,988 25,988 13-
Newport People First Notes to the Financial Statements (contthued) Year ended 31 March 2025 Investment Incom Restricted Total Funds Funds 2025 Reslricled Tol81 Funds Funds 2024 Bank interest receivab Expendlture on charitablo activities by fund type Unreslricled Funds Restricted Total Funds Funds 2025 Newport City Council Advocacy service Social Fund National Lottery Community Fund Newport City Council Our Voice. Our Choice, Our Port Support costs 4,816 81 10.725 4.816 81 10,725 3,569 8,417 3,569 1,127 1,127 27,608 28.735 Unrestricted Funds Restricted Total Funds Funds 2024 Newport Cty Council Advocacy service National Lottery Community Fund Newport Cty Council Our Voice, Our Choice, Our Port Support costs 2,589 10.807 2,589 10,807 3.456 10.660 3,456 11,787 1,127 1,127 27.512 28,639 14.
Newport People First Notes to the Financial Ststements fconllnu¢d) Year ended 31 March 2025 Expenditure on charitable actlvitles by actlvlty type Activities undertaken directly Support Gosls Total funds 2025 Total fund 2024 General Fund Newport City Council Advocacy service Social Fund National Lottery Community Fund Newport Cty Council Our Voice, Our Choice, Our Port Governance costs 1,127 2,896 1,127 7.712 81 14,471 1,127 7.925 4,816 81 10,725 3,746 14,472 3,569 3.569 1.775 3,456 1,659 28,639 1,775 19,191 28,735 Analysls of support costs National Lottery Newport City Communty Council Fund Total 2025 Total 2024 General Fund Premises General office Governance costs Depreciation 1,028 1,868 1,775 1.028 5,614 1,775 1,127 1,167 7,834 1,659 1,127 11,787 3,746 1,127 1,127 4,671 3,746 10. Net expenditure Net expenditure is staled after chargin9llcreditingl.. 2025 2024 Depreciation of tangible fixed assets 1.127 1,127 11. Independent examinatlon fees 2025 2024 Fees payable to the independent examiner for. Independent examination of the financial statements 1,775 1,659 12. Staff costs The total staff costs and employee benefrts for the reporting period are analysed as follows.. 2025 2024 Wages and salaries 18,657 18,471 15-
Newport People First Notos to the Financial Ststements (continued) Year ended 31 March 2025 12. Stsff costs (conllnu There were no employers pension conlribulions this year {2024.' nill. No employers naional insurance was payable12024." nil). The wages costs include payments to a book4(eeper of £787 (2024= £602). The average head count of employees during the year was 2 {2024'. 21. The 8ver4e number of full-time equivalent employees during the year is analysed as follows.. 2025 2024 No. Number of staff IFTEI No employee received empioyee beneff(s of more than £60,000 during the year12024.' Nill. 13. Trustee remungration and expenses No remuneration or other benefits from employment wf(h the charity or a related entty, were receivecs by the Iruslees this year.12024.' nill One trustee was reimbursed expenses of £72 {2024.' £1451 for costs arising from charitable expenses on behalf of the charity. 14. Transfers between funds The 2021 National Lollery Community Fund balance was transferred lo the 2022 National Lottery Communty Fund as authorised by the Charity. 15. Tangible flxed assets Equipment Total Cost At 1 Apr 2024 and 31 Mar 2025 Depreclation Al 1 Apr 2024 Charge for the year At 31 Mar 2025 10.409 10.409 3,738 1,127 4,865 3.738 1,127 4,865 Carrylng amount At 31 Mar 2025 S,544 5,544 At 31 Mar 2024 6.671 6,671 16-
Newport People First Notes to the Financial Statements fconlinuedj Year ended 31 March 2025 16. Analysis of charitable funds Unrestricted funds At Income Expenditure 31 Mar 2025 At 1 Apr 2024 General unrestricted funds 18,800 11,127} 17,673 At Income Expenditure 31 Mar 2024 Al 1 Apr 2023 General unrestricted funds 19,587 340 11.1271 18,800 17-
Newport People First Notes to the Financial Statements (continued) Year ended 31 March 2025 16. Analysis of charltablo funds {witinuo1* Restri¢tod funds At Transfers 31 Mar 2025 At 1 Apr 2024 Income Expenditure Cwm Taf- My Brilliant Lrfe Newort City Council - Advocacy support Social Fund National Lottery Community Fund 2021 1,213 13,528 90 1,213 12,462 436 8,421 427 {9.4871 1811 4,427 5,156 1.201 5.917 {4,427} 4,427 National Lottery Community Fund 2022 GAVO ICF - He8hY Lives Happy People GAVO ICF - Digital Communities project Newport City Council - Our Voice, Our Ch0e. Our Port DWP 11,156 114,4711 6,268 1,201 5.917 3,572 3.707 {3.5691 3,707 31,207 32,828 24,774 127,608} At Income Expenditure Transfers 31 Mar 2024 At 1 Apr 2023 Cwm Taf- My Brilliant Life Newport City Council - AdvcLaey support Social Fund National Lottery Community Fund 2021 National Lottery Community Fund 2022 GAVO ICF - Healthy Lives Happy People GAVO ICF - Digital Communities project Newport City Council - Our Voice, Our Choice, Our Port DWP 5,505 416 4,427 6.140 1.201 5,917 12,500 11 {9.585) 8,420 427 4,427 5,157 1,201 5,917 13,488 114,471} 7.028 3,707 (3.4561 3,572 3,707 34.341 25,999 127,5121 32.828 18-
Newport People First Notss to the Financial Statements (conlhuéd) Year ended 31 March 2025 16. Analysis of charitable funds (¢ontinuedJ Newport Cty Council continues to support the charity wi(h the Advocacy servi funds Newport City Council Our Voice, Our Choice, OUT Port fund is lo support our learning disability awareness training programme and relationships with council, government and other organisations Cwm Taf People First funds were recewed for Ihe'my Brilliant Life, joint project The Social Fund is represenlalive of the members. contributions Sportlol Funds were rerEived in previous years to establish a walking group The National Lottery Community Fund (commencing in 20201 continues to provide funds this year to support a project co-ordinalorfs post GAVO ICF funds are to support the Heatthy Lives, Happy People project and Digit81 Communities projects The DWP fund was lo support a Project Officer role 17. Analysls of net assgts bgtwegn fund$ Unrestricted Funds Restricted Totsl Funds Funds 2025 Tangible fixed assets Current a5setS 5,544 43,336 48.880 12,129 31,207 Net assets 17,673 31,207 Unreslricled Funds Reslricled Total Funds Funds 2024 Tangible fixed assets Current assets 6,671 12,129 6,671 44,957 32,828 Net assets 18,800 32,828 51,628 18. Related parties There are no related party transactions that require disclosure in these financial statements. 19-