WALTON COMMUNITY & ENTERPRISE PARTNERSHIP ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE ST YEAR ENDED 31 DECEMBER 2023 Company Number: 07071909 Charity Number: 1141033
WALTON COMMUNITY & ENTERPRISE PARTNERSHIP CONTENTS Page Trustees. Annual Report Statement of Trustees, Responsibilities Independent Examlner's Report statement of Flnanclal Actlvltles Balance Sheet Noles to the Financlal Statements 10
WALTON COMMUNITY & ENTERPRISE PARTNERSHIP TRUSTEES, REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023 The trustees are pleased to present thelr annual report for the year ended 31st December 2023. The flnancial 8t8tem6nt8 have been prepared In accordance wlth the Charltle$ Act 2011, Companies Act 2006, Accounting and Reporting by Charitles,, Stalemenl of Recommended Practlc& applicable to Gharities preparlng their accounts in accordance with the FinanGlal Reportlng Standard appllcable In the UK and Republic of Ireland (FRS1021 effeotlve from 1st January 2019. OBJECTIVES AND ACTIVITIES Walton Community & Enterprise Partnership (Cornerstone) is a Communlty Enterprise Cenlre. Its alm Is to aid community.cohe$lon by providing flexible, affordable space for local community and enterprise activities. Cornerstone's objects are speclfically restrlcled to the followlng: The advancement of education The rellef of poverty The relief of unemployment To promote for the benefil of the inhabltants of Walton and the surrounding area the provision of facS1itles for recreation or other le18ure tlme occupation of Indlvlduals who havo need of such fa¢llltles by reason of their youth, age, infirmity or disablement, flnanclal hardshlp or social and economlc clrcumstances or for the public at large in the interests of social welfare and with the object of Improvlng the condltion of life of the said Inhabitants. ACHIEVEMENTS AND PERFORMANCE In the years slnGe il opened, we've been home to more than 55 businesses who have employed more than 200 people over the time and that'8 not Sncludlng the numeroug groups using the centre. Prior to the organisation belng establlshed a consultation and feaslblllty study was conducted which looked at the posslb5e uses of the bulldlng based on a soclal and economlc profile of the areas 8nd a gap of analysis. The study led to the establishment of the Communlty Enterprise Cenlre. Subsequent to Its eslabllshment, Cornerstone evaluated ils early work and conducted a survey of centre users. and asked what needs they had and what gaps In facilitieslactlvilies there were in the area and what they would like to see. The following was Identlfied: There was a lack of affordable, flexlble acconimodation in the ar8a for fledgllng communily businesses, soclal enterprises, sole Iraders and small businesses, There was a lack of communlly development, community involvemerbt and capaGIty building in the area. The buildlng has now achleved full oGGupancy In Its avallable t8nancles. Cornerslone was speclflcally @slablished as a vehicle for Increasing social coheaion and levels of enterprise activity in the Walton area. By doing so it is helplng lo strengthen the loGal communlty by supporllng and facilltatlng enterprlse and self-8fflcacy by empowèrlng the Gommunity to find a solution to Gommon problems, In particular the problems of lack of employmenl and social Isolat10n.
WALTON COMMUNITY & ENTERPRISE PARTNERSHIP TRUSTEES. REPORT FOR THE YEAR ENDED 31 ST DECEMBER 2023 Cornerstone gives people from the local communlty the opportunlty to Inltlate activities and projects of beneflt to local people as well as developlng new seNices and enterprises. The local community wlll algo be made stronger by the creatlon of a hub of inter-connected and symblotlcally networked communlty groupg, soclally drlven buslness, locally derlved prlval6 businesses and community service providers. A history of the site and the current premises The ¢urrenl buildlng is the fourth $Ghool bullt by Walton Church, the flrst dallng from the early 1600,8. It opened in 1897 and was the Junior department of the Walton St Mary Church of England PrSmary School. The infant department relo¢atÈd to the same site in the 1990's and in 2009 Walton St Mary and Arnol St School lolned together on the Arnot slle to become Arnot Sl Mary Church of England School. The present building was then handed over to Walton Communlty & Enterprise Partnership and renamed "Walton Cornerstone" The previous school was built In Heathcote Road In 1847. Thls school consisted of two rooms and accommodated 15 girls and 130 infants. The cost of the project was £1,080. The cost for attendng the school at this tlme was 2d per week per child and I d. for each additional child from the same famlly. By 1870 there had been and expanslon of houslng In the area and the school was unable to accommodate the needs of the district and a further schoolroom was built facing the school in HeathGOte Road. Walton National School opened in Bedford Road In 1895, paid for by the parishioners and was bullt on land given by the Rectors of Walton and West Derby and by Madam8 de Falbi and the Truste&s of the Walton Glebe Estate, The school changed It9 name to Walton St Mary Church of England School and finally closed its door8 In July 2009 when the bulldlng was18as8d to Wallon Community & Enterprlse Partnershlp. Summary of the main activlties in relation lo these objects As noted, the prlmary objective of Cornerstone 18 to provlde affordable space for local communlty and enterprise actlvity. Slnce occupylng the building in 2009, it has let most of the available offlce spaGe and Cornerstone Is dellghted to have been the flrst 'stepplng stone. for many successful business ventures who have moved on to theSr own office and shop space. Durlng 2020 the Trustees agreed to upgrade the Adminlstrator to th6 role of Cenlre Manager In recognition of the addilional responslbllities that were occurring, Cornerstone holds a Foodbank once a week, 11 has hosted open days, debt help sessions, residents meetings, and police and councll suigerles, The aim is lo provide these sessions as well as start-up sessions for new business enterprises In the future rather than merely offer the space for others to do so. Since Incorporation Walton Communlty & Enterprise Partnèrshlp has soen a number of successes amongst ils tenants wlth rnany moving to bigger premlses wlthin the centre and others moving on due to the successful growth of thelr buslnesses. FINANCIAL REVIEW Total income in the year was £73,078 (2022: £72,326). Total expendllure in the year was £63,858 (2022.. £76,662). leavlng a surplus for the year of £9,220 {2022., deflcS1 £4,336)
WALTON COMMUNITY & ENTERPRISE PARTNERSHIP TRUSTEES, REPORT FOR THE YEAR ENDED 31 ST DECEMBER 2023 At 31sI December 2022 the charity's Teserves stood at £30,596 (2022: £21,376). All inGome, expenditure and reserves are unrestricted RISK MANAGEMENT The trustees have conducted their revlew of major risks to which the charity Is exposed and systems have been established to mitigate those risks. These reviews ar8 conduGt&d on a contlnulng basls, RESERVES POLICY It is the policy Oi the charitable Gompany to maintain unrestriGted funds, whlch are free reserves at a level to cover redundancy provision and three rronths, running Gosts should no furlher fundlng be received. At the end of the financial year, unrestrlcted funds lotalled £30,596, The charltable company requlres £2,125 for redundancy provision and £15,965 for three months. running Gosts, (total £18,090}. PLANS FOR THE FUTURE Our refurbishment programme inGludes', Updallng the old School tollets wlth new units suitable for adults. Purchasing of land currently ownad by Liverpool Clty Council. STRUCTURE, GOVERNANCE AND MANAGEMENT The organlsation Is a charllable company limited by guarantee, incorporated on 10th November 2009 (company number 07071909) and reglslered as a Gharity Icharily numbèr 1141033) on 1 sl April 2011. The Governing Inslrun)ents under which the charitable company operates ¢omprise of the Memorandum and Articles of Associatlon dated 3rd November 200g The Management Commlttee Gomprises of two members and trustees and a Company Secretary from a cros8 section of backgroundg, experlences and skllls Under Article 8.3, to quallfy as a member a per80n must be elther the Rector or a Churchwarden of St Mary's ChurGh Walton. Trustees ¢onslst of a mlnlmum of three to a maximum of 12. 9 shall be nominated arbd a maxlmum of 3 trusleeg may be co-opted, Nomlnated Trustees shall be nomlnated by th& Rector and Churchwarden9 for the tlmè being of St Mary's Walton (who shall deterniine such nomlnations by a majority vote), and shall remain In offlce for so long as the Rector and Chur¢hwardens shall determine, biit in any event no longer than 3 years.
WALTON COMMUNITY & ENTERPRISE PARTNERSHIP TRUSTEES, REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DETAILS Name Walton Community & Enterprise Partnershlp 07071909 Company Number Charlty Number Registered Office 1141033 Walton Cornerstone 2 Liston Street Walton Llverpool Merseyslde L4 5RT Trustees Valerie Cumine Rev Lynn Davldson Rita Lacey Rev Trevor Latham Terence John May Brenda Netlleton John K, Taylor (Appointed 20th February 2024) (Resigned 201h FeLiruary 2024) (Resigned 1 olh July 2023) Company Secretary Brenda Nettleton Independent Examiner Ying Huang FCCA o LCVS 151 Dale Streat, Llverpool, L2 2AH Bankers TSB PO Box 373 Leeds LS14 9GQ Signed on behalf of the Board of Trustees Brenda Nettleton, Trustee Date.. Ul . S.
WALTON COMMUNITY & ENTERPRISE PARTNERSHIP STATEMENT OF TRUSTEES, RESPONSIBILITIES Company law requires the trustees to prepare financial statements for each financial year which glve a true and falr view of the slate of affalrs of the charitable company as at the balance sheet date and of Its incomlng resourcès and appllc8tlon of resources, includlng inGome and expenditure. for the finanGial year. In preparing those financial statements, the trustees should follow best practlce and.. selecl sultable a¢countlng policies and Ihen apply them consistently., ObSee the methods and prlnclple In the Charities SORP. make judgements and estimates that are reasonable and prudent., prepare the fSnanclal statements on the going concern basis unless it is Inappropriate to presume that the Gompany will continue as a golng concern,, state whether applicable accounting standards have been followed, subject to any materlal departure disclosed and explaln8d In the finan¢lal statements. The Trustees are responsible for malntalnlng proper accountlng records which dlsclose with reasonable accuracy at any time the finanGial position of thè charitable company and to enablè them to ensure that the finanolal statements comply with the Companies AGt 2006. They are also responslble for safeguardlng the assets of the charltablÈ company and hence for laking reasonable steps for the prevention and detection of fraud and other Irregularities. Th18 raport has been prepared In accordance wlth the Charltl88 Act 2011, Companle8 A 2006, AcGountlng and Reportlng by Charlties, Statement of Recommended Practice (Sorp 2019) appllcable to charltles preparlng th@Ir accounts In accordance with the Flnancial Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS1021 effective from 1st January 2019, By the Order of the board, Lg B Nettleton Company Secretary 2 Llston Street Walton Liverpool Merseyslde L4 5RT
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WALTON COMMUNITY & ENTERPRISE PARTNERSHIP I report on the accounts of the charitable company for the year ended 31st December 2023, which are set out on pages 8 to 15, The trustees {who are also the directors of the company for Ihe purposes of Gompany law) are responsible for the preparation of the accDunts, The trustees consider that an audlt Is not requii'ed for this year under section 144(2) of the Charities Aot 2011 {the 2011 Act) and that an Ind8pendent examlnatlon Is needed. It is my responsibility to: èxamlne the Sccounts under sectlon 145 of the 2011 Act, to follow the procedures lald down in the general Directions given by the Charity Commlssion (under sectlon 145(5llb) of the 2011 Act, and to state whethar particular mallers have come to my attention. Res ective res onsibijities of trustees and examiner Basis of inde endent examinerfs statement My examination was carried out In accordance with general Directlons glven by the Charity Commission. An examlnatSon includes a review of the accounting records kept by the charity and a comparlson of the accounts presented wlth those records. It al80 Includes Consideration of any unusual Items or disclosures In the accoLFnts, and seeking explanations from the trustees concernlng any Such matter8, The procedures undertaken do not provide all the evidenGe that would be required in an audit, and consequently no oplnlon is given as to whether the accounts present a 'true and falr. vlew and the report 18 Ilmlted to those matters sel out In the slalement below. Inde endent examiner's statement In Gonnectlon with my examination, no matter has come to my attention: (1) which gives me reasonable Cause to believe that in, any materlal respect, the requireni8nts', to ke6p accountlng records In accordance with seclion 386 of the Compani@s Act 2006. and to prepare accounts which accord with the accounting records and comply wlth the accounting requirenient8 of section 396 of Ihe Companles Act 2006 and with the melhods and principles of the Statement of Recommended PraGtl¢È: Accounting and Reporting Charities have not been met; or (2} to whlGh, In my oplnion, attention should be drawn in order to enable a proper understandlng of the a¢¢ounls to be reached. Name: Mrs Ying Huang Relevant professlonal qualification or body: FCCA Address; clo LCVS 151, Dale Street, Liverpool, L2 2AH Dated:
WALTON COMMUNITY & ENTERPRISE PARTNERSHIP STATEMENT OF FINANCIAL ACTIVITIES (INGLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 STDECEMBER 2023 Notes Unrestricted Restrlcted Funds Funds 2023 2023 Total Funds 2023 Totsl Funds 2022 Income and endowments from: Donations and Legacies Charltable activities Investments 1,000 71,927 151 1,000 71,927 151 3b 72,283 63 Total Income 73,078 73,078 72,326 ExpendlturÈ on: Charltable actlvltles 63,858 63,858 76,662 Total èxpenditure 63,858 63,858 76,662 Net Incomel{expendlture) net movement In funds 9,220 9,220 {4,336) Total funds brought forward 9,10 21,376 21,376 25,712 Total funds carried forward 8-10 30,596 30,596 21,376 The notes on pages 10 to 15 form part of these accounts. All the above amounts relate to contlnulng aGtlvilies of the charitable company.
WALTON COMMUNITY & ENTERPRISE PARTNERSHIP Company Number: 07071909 BALANCE SHEET AS AT 31 ST DECEMBER 2023 Notes 31st December 2023 31st December 2022 Fixed assets Tangible fixed assets Current assets Debtors Cash at bank and in hand 4,850 27,652 274 22,697 32,502 22,971 Current liabilities Creditors: amounts falling due wlthln one year (1,906) (1,595) Net current assets 30,596 21,376 Total assets less current liabilltie5 30,596 21,376 Funds: Unreslri¢ted funds RestrlGted funds 30,596 21,376 10 30,596 21,376 These financial statements have been prepared in accordance wlth the Flnancial Reportlng Standard applicable in the UK and Republlc of Ireland (FRS102). These accounts have been prepared in accordance wilh the provisions applicable to small companles subleGt to the small companies, reglme and in accordan wlth FRS102 SORP, For th& period covered by these accounts the company was entltl8d to exemptlon under section 477 of the Companies Act 2006 relating to small companle8, No membÈrs have required the company to obtain an audit of Its accounts for the year in question in accordanc8 wlth sectlon 476 of the Companles Act 2006. The trustees, who are the dlrectors of the Company, acknowledge thelr responslbility for omplyin9 Wlth the requirements of the Act with respect to accountlng records and the preparation of financlal statements. Signed on behalf of the Board on . .2.1, Brenda Nettleton, Trustee
WALTON COMMUNITY & ENTERPRISE PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST DECEMBER 2023 1. Limiled Liability The charlty Is a company limlted by guarantee. Each member's liability is limited to £1. 2. Accounting Policies Basls of accountlng The financial statements have been prepared In accordance wlth the Statement of Recommended Practice.. Accounting and Reporting by Charitles preparing their accounts in accordance wlth the Flnancial Reporting Standard applicable in the UK and Republlc of Ireland (FRS102) eff8Ctlve from 1st January 2019 and Charities Act 2011 and the Companies Act 2006, The accounts have been prepared under the hlstorlcal cost conventlon wlth Items recognised at cost or transaGlion value unless othenmise slated in the relevant nole(s) to Ihe8e accounts. The accounts are prepared In sterling, which is the functional Gurrency of the charity. Monetary aniounts in these flnanclal statements are roLinded to the nearest £. The Charlty has taken adv8nlag8 of the provlsions In the SORP for Charitlos applying FRS 102 Update Bulletln 1 not to prepare a Statement of Cash Flows. Going concern The Charltable Company has been slgnlflcantly impacted financlally by Covid-19, due to the loss of income bul has agreed to apply unrestriGted funds to supporl Its activllies. The Trustees therefore have a reasonable expectation that Ihe Charllable Company has adequate resources to contlnue operatlonal exl8tence for the foreseeable future and have adopt&d the going Goncern basis of accounting in preparlng the accounts. Fund accounting Unrestricted funds are the charity's free re8erves avallable for the trustees to apply In aGcordance with the charitable wmpany's charitable objectlves. Restricted funds are subject to specific reslrictive Condilions imposed by the donor, All restricted funds are accounted for as restrfGted Income and expendllur6 for the purposes Is charged to the fund, Flxed assets Capital 8xpendlture of £1,000 and above Is treated as a flxed asset and depreclated over Its useful life. At Iruste&s' discretlon, expenditure on Items in relation to lrnprovements to leasehold buildings have not been trÈaled as fixed assets and are dealt wilh in the Stalemenl of Flnancial Acllvltles when payment has been made. No value has been placed in the accounts on gifted assets or volunteer labour provided in improving its facilities. Income recognition All income Is recognised onGe the charity has entlllement to the income, there Is sufficlent certainty of receipt and so11 Is probable that the Income will be recelved. and the amount of income receivable can be measured rellably. io
WALTON COMMUNITY & ENTERPRISE PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST DECEMBER 2023 Donations and legacles comprise of donations and general grants which are recognised in the accounts when reived, with the exception of known legacies which are accounted for when thelr recelpt18 certaln. Income from Gharitablg aclivitles Is r8¢ognlsed on an accruals bas18 except for grant8 receivable, which are recognlsed on the date on which their unconditional payment is onfirmed by th8 donor. Income from investm8nt relates to bank Intere8t retslved and is recognlsed when th8 amount is certain. Expenditure recognition Liabilities are recognised as soon as there Is a legal or constructive obllgatlon committing the charllab18 company to that expendllure, It Is probab18 that settlement will be requlred and Ihe amount of the obligatlon can be measured rellably. All expenditur8 is accounted for on an accruals basls. All expenses, includlng support costs and governance costs, are allocated or apportioned to the applicable expenditure headings In the Statement of Financial Activlties. Support and govèrnance costs are appllgd to unrestrlcted funds unless specifically Included In the r6striction8, ag speclfled by the donor. Expenditure on charitable aGlivitles relate to the operation of the charity comprising of dlrect charltable expenditure to meet the objectives of the charitable company. Support and governance costs relate to the management and operatlon of the organlsation and also compliance wlth constitullonal and statutory requirements In producing the annual r&port. The86 are dealt wlth In the Statement of Financlal AGtlvilles when paymant has been approved by the ¢haritable company. Cash and cash equivalents Cash and cash equlvalenls include cash in hand, deposits held at Gall wlth banks, other short-term Ilquld Investments wSlh orlglnal maturities of three months or less, and bank overdrafts. Flnanclal Instruments The charlty has elected to apply the provislons of Secllon 11 'Basic FlnanGlal Instruments. and Section 12 '0ther Flnancial Instruments Issues, of FRS 102 to all of its flnancial Instruments. Flnancial instruments are recognised In the charlty's balance sheet when the charlly beGomes party to the contractual provSslons of the instrument. Flnancial assets and Ilabilitles are offset, with the net amounts presented in the finanGial slalements, when there Is a legally enforceable rlght to set off the recognised amounts and there Is an Intentlon to settle on a net basis or to realise the asset and settle the liability slmultan8ously. Baslc financial assets Baslc financial assets, which include debtors and cash and bank balances, are initially measured at transaction prl¢e includlng transaction costs and are subsequently carried at amortlsed cost using the effectiv8 Interest method unless the arrangement constitutes a financing transaction, where the transactlon is measured at Ihe present value of Ihe future recelpts dlscounted at a market rate of interest. Flnanclal assets classifled as re¢8ivable within one year are not amortlsed. li
WALTON COMMUNITY & ENTERPRISE PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ST Basic financial liabilities Basic financial liabilities, including credltors and bank loans are initially recognised al transactlon price unless thè arrangement constltuteg a financlng ti-ansaction, where the debt Instrument Is meagured at the present value of the future recelpts d18counted at a market rate of interest. Flnanclal Ilabilities classified as payable within one year are not amort18ed. Debt Instruments are subsequently carrled at amortlsed cost, uslng the effective Interest rate method, Derecognition of flnancial liabilities Financial Ilabilities are dereccgnised when the charity's contractual obligations e.xpire or are dlscharggd or canlled. Taxation Income and galn$ are exempt from taxatlon as they are received and applied for charitable purposes only. The charitable company benefits from various exemption5 from taxation afforded by tax legislation and are not Ilable to corporation lax on income or gains falling within those exemptlons. Critlcal ac¢ountlng estlmates and judgements In the appllcatlon of tho charity's accounting policle8, the trustees are required to make ludgements, estimates and assumptions about the carrying amount of assets and liabililies that are not readily apparenl from other sources. The estlmates and assoclated assumptions are based on historical experience and othÈr factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-golng basis. Revisions to acGounting estimates are reGognised In the perlod in which the estimate is revised where the revSsion aff6Cts only that period, or In the period of the revision and future perlods where the revlslon 8ff8cts both currenl and future perlods. 3. InGome and endowments from: U nrestrlcted Restricted Funds Funds 2023 2023 Total Funds 2023 Total Funds 2022 a. Donations and Legacies: Donations 1,000 1,000 Income from donatlons and legacies in 2022 was Nil. b. Charltable activities.. Hall hlre Rental Income 165 71,762 165 71,762 390 71,873 71,927 71,927 72,263 Income from charilable actlvltles in 2022 related wholly to unreslrlcted funds.
WALTON COMMUNITY & ENTERPRISE PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 Unrestricted Restricted Funds Funds 2023 2023 Total Funds 2023 Total Funds 2022 c. Investments: Bank Inler8st 151 151 63 Income from Investments In 2022 related wholly to unrestricted funds. 4. Expenditure on charitable activities Direct Support & Charitable Governance Expenditure GostS Total 2023 Total 2022 To provlde facllltles for recreatlon and leisure lime 60,333 3,525 63,858 76,662 a. Analysed as follows: 2023 2022 Direct charitable expenditure." Staff 8alary costs Running costs Insurance Security and alarm costs 14,733 38,197 5,868 1,535 19,710 46,520 5,600 877 60,333 72,707 Support & Govern8nGe costs.. Office costs Bank Gharges Gifts PholoGopier Lease Company filing fee Bad Debts Sundry expendilure Payroll faes Accounlancy fees 880 146 250 974 13 101 162 600 974 13 815 98 357 835 6g 373 820 3,525 3,955 Total expenditure on charitable activities 63,858 76,662 £nll (2022.. £nill of the above expenditure relales to restricted fundlng. 13
WALTON COMMUNITY& ENTERPRISE PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315Y DECEMBER 2023 b. Staff Costs 2023 2022 Gross salaries 14,733 19,710 c. PartlcLilars of employegs.. The average number of employees during the year was as follows.. 2023 2022 Charltable acllvlly No employee recelved emoluments of more than £60,000 durfng tho year. ThÈ Trustees ar@ nDt remunerated for their services and are not included in the above number of employees. 5. Tanglble fixed assets There are no tanglble flxed assets acqulred during the year or held as at 31st December 202312022: none), 6. Debtors 2023 2022 Debtors and prepayments 4,850 274 7. Credltors: amounts falling due wlthin one year 2023 2022 Accruals Other creditors 1,296 610 835 760 1,906 1,595 8. Analysis of net assets between funds 2023 Tangible Net Current Fixed Assets Assets Total Unrestrlcted Funds General Fund 30,596 30,596 2022 Tangible Net Current Fixed Assets Assets Total Unrestricted Funds General Fund 21,376 21,376 14
WALTON COMMUNITY & ENTERPRISE PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315T DECEMBER 2023 9. Unrestricted Funds Movements in the Year 2023 Reserves at Beginning of year Income Expenditure Reserves at End Of Year General Fund 21,376 73,078 {63.858} 30,596 Move ents In t ear 2022 Reserves at Beginning of year Income Expenditure Reserves at End of Year General Fund 25,712 72,326 (76,6621 21,376 General Fund Is used to flnance the Gharltable company's general actSvllles as outlined in Ihe Trustees, Report 10. Restrlcted Funds There were no re8trlcted funds recelved or expended durlng the year or held as at 3181 DeGember 2023. (2022: £nll) 11,Lease Commitments Financial commitments under non-cancellable operating16ases relatlng to a photocopler lease, thls wlll result Sn the following payments falling due at 31 sl December 2023. 2023 2022 Photocopier operating leases which explre: Due within one year 974 2,127 974 2,127 12. Related Party Transactions There were no material related party transactlons during the year which require disclosure (2022.. none), 13,Guarantees As at 31st December 2023, 7 members had glven a gtjarantee of £1 Èach in the event of the company windlng-up. Total,. £712022: 8 members £8).