Charlty number: 1141019 THE ALBERT AND ELIZABETH CLARK CHARITABLE TRUST UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Bishop Fleming
THE ALBERT AND ELIZABETH CLARK CHARITABLE TRUST CONTENTS Page Referen¢9 and administrative details of the Charity, Its Trustees and advisers Trustees. report Independent examinerfs report ststement of financial actlvltles Balance Sheet Notes to the financial statements 8-16
THE ALBERT AND ELIZABETH CLARK CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2022 Trustees N C R Cronin S J Cronin Iresigned 31 July 20221 D G Slora ChaTity registered numb8r 1141019 Principal office 4 Maple Close Bcomyard Herefordshire HR7 4LQ Accountants Bishop Fleming LLP Chartered Acwuntants 1-3 College Yard WorSter WR12LB Bankers HSBC Bank PLC 6 Broad Street Worcester WR12EJ Sollcltors Slallard March & Edwards LLP 8 Sansome Walk Worcester WR1 1LW Page 1
THE ALBERT AND ELIZABETH CLARK CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2022 The Trustees present their annual report together with the financial slalements of the Charity for Ihe 6 April 2021 to 5 April 2022. The Trustees confirm that the Annual Report and financial statements of the Gharity comply wf(h the Current slalulory requirements, the requirements of the charity's governing document and the pfovisions of the Statement of Recommended Practice ISORPI Aceounling and Reporting by Charities" issued in October 2019. Objectives and activlties a. Policies and objectives Our main objectives and who we try lo help are described below. All of our charitable activities focus on providing financial support lo institutions in the United Kingdom to benefit the community and are undertaken lo further our charitable purposes for public benefit. We have referred to the guidance contained in the Charity Commision's general guidance on public benefit when reviewing our aims and objectives and in planning our future aclivilies. The principal object of the charity is to provide financial support lo cha¥¢table. educational and religious institutions within the United Kingdom. In setting objectives and planning for activities. the Trustees have given due consideration lo general guidance published by the Charity Commission relating to public benefit, inclucsing the guidarice 'Publi¢ benefit.. running a charity IPB21' b. Actlvltles undertaken to achieve oblecttves We aim lo achieve our objectives by.. Making institutional grants and providing other financial assistance to charities, societies and institutions in the UK to relieve povety, the advancement of education. the advancement of religion, the relief of sickness and distress and other such charitable purposes beneficial to the community. Achievement$ and performance a. Review of activities During the year we sought to achieve our aims by distributing £89.67012021." £124,300) in inslilutional grants, as noted in Note 4 to the accounts. Due to the performance of the investment portfolio, we were able lo distribute more. The investment portfolio increased in value from £1,678,048 10 £1,698,465 and continued to make a positive contribution to the running of the charity by way of geneiating £42,750 of income12021'. £40.8951. b. Investment policy and perfomiance The Trustees have detemiined that the funds available to the charity are sufficient for the day lo day running of the Charity. Unless there is a significant increase in reserves the charity will retain all funds in the current account that are not invested in the stock maikel Page 2
THE ALBERT AND ELIZABETH CLARK CHARITABLE TRUST TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED S APRIL 2022 Financial review . Golng eoncern After making 8ppropiiate enquiries. the Trustees have a reasonable expectation that the Ch2rity has adequate resources lo continue In operational existen for the foreseeable futLE. For this reason, they continue lo adopt the going concern basis in preparing the financial stalemenls. Further details regarding the adoption of the going concern basis Can be found in the accounting policies. b. Reserves poli¢y The Twstees have reviewed the charitys need for reserves in line with the guidance issued by the Charity Commission. The Trustees believe that the eharity has sufficient reseNes required to ensure the charity can run efficiently and continue lo meet ils objecb'ves in the event of a loss of significant income streams, for approximately 12 months. This figure is based on commitments to members, stsff, and other stakeholders, and also takes into account costs of winding down the organisation rf necessary. 12 month operational costs currently equate lo £2,000 12021.. £2,000). and the charity has £1,793,068 12021.. £1,764.5721 in unrestricted reserves, however. £1.698,465 12021.. £1,678,084) is lied up in the Investment portfolio. ¢. Flnan¢ial Review During the year the charity had incoming resources of £43,58712021'. £40,895), all from investment income and had resource5 expended of £1124.045 12021.. £138,018), mainly institutional grants generating a deficit of £80,45812021.' £97,123 deficit} There w85 a net gain on investrnents of £108,95412021.' £349,993), leading lo an overall surplus of £28,493 {2021. £252,870). Al the year end there were unrestricted reserves of £1,793,06812021'. £1,764,572>, of which £1,698,465 related lo investments held12021. £1.678.0841 structure. governan¢e and management a. Constitution The Albert and Elizabeth Clark Charitable Trust is a re9lStered charity, number 1141019, and is conslituled under a Trust deed. b. Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms o* the Trust deed. c. Organisational structure and deeision-making policies The Trustee of the Charbty who held office during the financial period and al the date of this report are sel out on page1. At Trustees. meetings, the Trustees agree the broad strategy and areas of activity for the charity, including consideration of grant making, Investment, reserves and risk management policies and performance. The day to day administration of grants and the process of handling of applications is carried out by the Trustees. Page 3
THE ALBERT AND ELIZABETH CLARK CHARITABLE TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2022 Structure, governance and management ICONTINUEDI d. Financlal risk management The Trustees have assessed the major risks lo which the Charity is exposed, in particular those related lo the operations and finances of the Chanty, and are satisfied that systems and procedures are in place to mitigate exposure lo the major risks. Plans for fvture perfods The outlook for the futuTr is uncertain and will no doubl brtng 8 number of new challenges. We aim to develop and change wherever appropriate so as lo best serve our primary objectives. STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees are responsible for preparing the Tru51ees' report and the financial statements in accordance with applicable law and United Kingdom Aceounting Standards (United Kingdom Genet311y AGcepled Accounting Practice}. The law applicable to charities in England & Wales requires the Trustees lo prepare financial slalemenls for each financial which give a true and fair view of the stale of affairs of the Charity and of ils incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to. select suitsble accounting policies and then apply them consistently", observe the methods and principles of the Charities SORP IFRS 1021, make judgments and accounting estimates that are reasonable and prudent., slate whether applicable UK Accounting Stsndards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial slalemenls., prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the Charity will continue in business. The Tiustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and 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 ol fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. N C R Cronln Trustee Date: Page 4
THE ALBERT AND ELIZABETH CLARK CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2022 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE AL8ERT AND ELIZABETH CLARK CHARITABLE TRUST {'tho Charity.) I report to the charity Trustees on my examination of the accounts of Ihe Charity for the year ended 5 April 2022. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the 2011 Act'l. I report in respect of my examination of the Charity's aGcounls carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) in preference to the Accounting and Reporting by Charities. Slalemenl of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Pra¢lice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in ¢onnection with the examination giving me cause to believe that in any material iespecl.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act,. or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts anLI Reports) Regulation$ 2008 other than any requirement that the accounts give a 'true and faiF' view which is not a matter considered as part of an independent examination,. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by ch8rib.es lapplicable to charities preparing theii accounts in accordance wlh the Financial Repo.ng Standard appluble in the UK and Republi¢ of Ireland IFRS 10211. 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. My work has been undertaken so that I might stale lo the Charity's Trustees those matters l am required to slate lo them in an Independent examiner's report ancl for no other purpose. To the fullest extent permilled by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body. for my work or for this report. Signed. Dated.. 27th January 2022 Andrew Wood FCCA DCHA BISHOP FLEMING LLP Chartered Accountants 1-3 College Yard worSter WR1 2L8 Page 5
THE ALBERT AND ELIZABETH CLARK CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2022 Unrestricted funds 2022 Total funds 2022 Total funds 2021 Note INCOME FROM: Investments 43.587 43,587 40,895 TOTAL INCOME 43,587 43,587 40.895 EXPENDITURE ON: Charitable activities 124,045 124,04S 138,018 TOTAL EXPENDITURE 124,045 124,045 138,018 NET EXPENDITURE BEFORE NET GAINS ON INVESTMENTS Net gains on investments (80.4581 108,954 180.4581 108.954 197,123) 349,993 NET MOVEMENT IN FUNDS 28.496 28,496 252,870 RECONCILIATION OF FUNDS: Total funds brought forward Net movement in funds 1,764,572 28,496 1.764.572 28,496 1.511,702 252.870 TOTAL FUNDS CARRIED FORWARD 1.793,068 1.793,068 1,764,572 The Statement of Financial Activitie5 includes all gains and losses COgniSed in the year. The notes on pages 8 10 16 form part of these financial statements. Page 6
THE ALBERT AND ELIZABETH CLARK CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2022 2022 2021 Note FIXED ASSETS Investments CURRENT ASSETS 1,698,465 1,678,084 DebloTS Cash at bank and in hand 27,361 72,721 33,000 57,288 100.082 90,288 CreditOTS'. amounts falling due within one year 10 {5,479} {3.8001 NET CURRENT ASSETS 94,603 86,488 TOTAL NET ASSETS 1.793.068 1,764,572 CHARITY FUNDS UnreslTiCted funds 1,793,068 1.764,572 TOTAL FUNDS 1.793.068 1,764,572 The financial statements were approved ancl aulhorised for issue by the Trustees and signed on their behalf by". N C R cronin Trustee Date.. The notes on pages 8 10 18 form part of these financial statements. Page 7
THE ALBERT AND ELIZABETH CLARK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 GENERAL INFORMATION The Albert and Elizabeth Clark Chantable Trust 1$ an unincorporated charity registered with the Charity Commission In England. The registered office is 4 Maple Close, Bromyard. Herefordshire, HR7 4LQ. The principal activity of the Charity is as dislcosed in the Trustees, Report on pages 2 to 4. The charitys presentational and functional currency is GBP. The financial statements are rounded to the nearest Pound. ACCOUNTING POLICIES 2,1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The finartcial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities. Statement of Recommended Practice applicable lo charities preparing their accounts in accordan with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'lrue and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required to provide a 'lrue and fair. view. This departure has involved following the Chaiilies SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended practi effective from 1 April 2005 which has since been withdrawn. The Albert and Elr2abelh Clark Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initialty recognised at historical cost or transaction value unless otherwise staled in the relevant accounting policy. 2.2 GOING CONCERN The Trustees assess whether the use of going concem is appropriate, i.e. whether there are any material uncertainties related lo events or conditions that may cast significant doubl on the ability of the charity lo continue as a going concern. The Trustees make this assessment in respe¢l of a period of one year from the dale of approval of the financial statements and have ¢oncluded that the charity remains a going COnM. 2.3 INCOME Al income is recognised once the Charity has entillemenl lo the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to investment income is recognised al the time the investment income is receivable. Page 8
THE ALBERT AND ELIZABETH CLARK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2022 ACCOUNTING POLICIES Icontlnuedl 2.4 EXPENDITURE Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit lo a third paty, il is probable that a transfer of economie benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support Costs involved in undertaking each activity. Direct costs attributsble to 8 single activity are allocated direcuy to that activity. Shared costs which contribute to MO than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consislenl with the use of resources Central staff costs are allocated on the basis of time spenL and depre¢ialion charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the aclivrtie5 which fvrther the Charity's objectives. as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those coses where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject lo conditions which have not been mel at the year end are noted as a commitment, but not accrued as expenditu. All expenditltre is inclusive of irrecoverable VAT. 2.5 INTEREST RECEIVABLE Interest on funds held on deposit Is included when receivable and the amount can be measured reliably by the Charity., this is normally upon notification of the interest paid or payable by the instrtutron wlh whom the fvnds are deposited. 2.6 INVESTMENTS Fixed asset investments are a form of linancial instrument and are initially recognised al their transaction cost and subsequently measured al fair value at the Balance sheet dale, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and piesenled as 'GainsllLossesl on investments, in the Statement of financial activities. 2.7 DEBTORS Tlade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.8 CASH AT BANK AND IN HAND Cash at bank and in hand includes cash and short-lerm highly liquid investments with a short maturity of three months or less from the date of acquisition Of opening of the deposit or similar account. Page 9
THE ALBERT AND ELIZABETH CLARK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 ACCOUNTING POLICIES l¢ontlnuedl 2.9 LIABILITIES AND PROVISIONS Liabilities are recognised when there is an obligation at the Balance sheet date as 8 result of a past event. it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates il will pay to settle the debt or the amount rt has received as advanced payments for the goods or services it musl provide. Provisions are measured at the best estimate of the amounts required to sellle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted al the pre-tax discount rale that reflects the risks specific to the liability. The unwinding of the diseount is recognised in the Statement of financial activities as a finance cost. 2.10 FINANCIAL INSTRUMENTS The Charity only has financial assets and financial liabilitses of a kind that qualify as basic financi31 instruments B8sic financial instruments are initially recognised at Imnsaclion value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured al amortised cost using the effective interest method. 2.11 FUND ACCOUNTING Genefftl funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment income, gains and losses are allocated lo the appropriate fund. Page 10
THE ALBERT AND ELIZABETH CLARK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 INVESTMENT INCOME Unrestricted funds 2022 Total funds 2022 Total funds 2021 Income fiom local listed investments Interest received 42,750 837 42.750 837 40,736 159 43.587 43,587 40,895 TOTAL 2021 40,895 40,895 ANALYSIS OF GRANTS Grants to Institution$ 2022 Total funds 2022 Total funds 2021 Grants payable 97,595 97,595 124,300 TOTAL 2021 124.300 124,300 Page11
THE ALBERT AND ELIZABETH CLARK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2022 The Charity has made the following material grants lo institutions during the year.. 2022 2021 NAME OF INSTITUTION Acton Mill Care Farm Amionico Consort Birmingham Royal Ballet Blood Cancer UK (Previous.. Bloodwisel Bromyard PCC Brosley Parish Council Bell Fund CABIWHABAC Cancer Research UK Citvzens Advice South Warickshire Change Your Life Pul Down Your Knife CIC Dyson Perrins Meuseum Hereft)rd Food Bank Indian School Project Lifespace Twst Macmillan Cancer Support Mordiford Bells 3,000 11,000 5.000 3,000 8,000 5.000 3,000 5,000 7.000 4,000 4,000 5,000 3,000 5,000 3.500 2,000 2,000 5,000 3,000 5,000 3,000 7.500 5,000 4,000 National Youth Concert Band Richard Cadbury Charitable Trust Safeline 700 18,470 5.000 St Marys & St Benedict's CalholiG School st Michael's Hospice Towns Web Archiving Watwick Music Live Wor¢esler Cathedral Worcester Community Trust Worcelser Food Bank Worcester Live Other Grants 3,000 3.000 7,925 16,0001 3.000 10.000 3,000 1,000 2.000 9,000 5,000 22,000 5,000 3,000 10,000 5,800 97,595 124,300 Page 12
THE ALBERT AND ELIZABETH CLARK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 ANALYSIS OF EXPENDITURE BY ACTIVITIES Activities undertaken dlrectly 2022 Grant funding of activities 2022 Total fund$ 2022 Total funds 2021 Direct costs 26,450 97,595 124.045 138.018 TOTAL 2021 13,718 124.300 138,018 ANALYSIS OF DIRECT COSTS Totsl funds 2022 Total funds 2021 Activities 2022 Professional fees Broker Fees 10,588 15.862 10,588 15,862 2,000 11,718 26,450 26.450 13,718 TOTAL 2021 13,718 13,718 INDEPENDENT EXAMINER'S REMUNERATION 2022 2021 Fees payable to the Charity's independent examiner for the independent examination of the Charitys annual accounts 2,340 1,800 TRUSTEES. REMUNERATION AND EXPENSES During the year. no Trustees ceiVed any remuneration or other benefits12021- £NILI. During the year ended 5 April 2022, no Trustee expenses have been incurred12021- £NIL}. Page 13
THE ALBERT AND ELIZABETrI CLARK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2022 FIXED ASSET INVESTMENTS Listed invBstments COST OR VALUATION At 6 April 2021 Additions Disposals Revaluations 1,678.084 150.117 1238,7151 108,979 AT 5 APRIL 2022 1.698.465 NET BOOK VALUE AT 5 APRIL 2022 1,698,465 AT 5 APRIL 2021 1,678,084 DEBTORS 2022 2021 DUE AFTER MORE THAN ONE YEAR Loan receivables 24,643 26,361 24,643 26.361 DUE WITHIN ONE YEAR Other debtors 2,718 6,639 27,361 33,000 Included within Other debtors is an amount of £Nil 12021.. £4,0001 that was loaned lo a Trustee of the Charity 10. CREOITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Accfuals ané deferred in¢ome 5.479 3,800 Page 14
THE ALBERT AND ELIZABETH CLARK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 11. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR Balance at 6 April 2021 Galnsl Balance at S (Lossesl April 2022 Income Expenditure UNRESTRICTED FUNDS General Funds 1,764,572 43.587 {124.0451 108,954 1,793,068 STATEMENT OF FUNDS - PRIOR YEAR Balance at 6 April 2020 Gainsl Balance al (Losses) 5 April 2021 Income Expendilure UNRESTRICTED FUNDS General Funds - all funds 1.511,702 40.895 1138,0181 349,993 1,764,572 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR Unrestricted funds 2022 Total funds 2022 Fixed asset investments 1,698,465 23,643 76.439 15.4791 1,698,465 23,643 76.439 {5,4791 Debtors due after more than one year Current assets Creditors due within one year TOTAL 1,793,068 1.793,088 Page 15
THE ALBERT AND ELIZABEfH CLARK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS ICONTINUEDI ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR Unrestricted funds 2021 Total funds 2021 Fixed asset investments Debtors due after more than one year Current assets Creditors due within one year 1,678.084 26,361 63,927 13.8001 1,878,084 26,361 63,927 {3,8001 TOTAL 1,764,572 1,764,572 13. RELATED PARTY TRANSACTIONS In the prior year £4,000 was advanced to S J Cronin, a Trustee. as a loan. The loan was interest free wlth no specific repayment terms and no formal agreement in place. The whole of this amount was oulslanding at 5 April 2021 and is included in Other debtors. £4,000 has been repaid against this loan during this financial year, leaving the amount remaining in debtors at 5 April 2022 as £Nil. Page 16