Charity registration number 1143914 Company registration number 07705033 (England and Wales) VICTORIA HALL COMMUNITY TRUST LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS — FOR THE YEAR ENDED 31 JULY 2023 ## VICTORIA HALL COMMUNITY TRUST LIMITED ## LEGAL AND ADMINISTRATIVE INFORMATION ## Trustees Mrs. S. Smith Mr. 0. A. Allen Mrs. J. Evans Mrs. V. Jones Charity number 1143914 Company number 07705033 Registered office Victoria Hall Victoria Hall Walk Higher Bebington CH63 8AB Independent examiner Horner Downey & Company Limited 10 Stadium Court Stadium Road Bromborough Wirral CH623RP- ## VICTORIA HALL COMMUNITY TRUST LIMITED ## CONTENTS ||Page| |---|---| |Trustees report|1-3| |Independent examiner's report|4| |Statement of financial activities|5| |Balance sheet|6| |Notestothefinancialstatements|7-14| ## VICTORIA HALL COMMUNITY TRUST LIMITED ## TRUSTEES REPORT (INCLUDING DIRECTORS’ REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 JULY 2023 The Trustees present their annual report and financial statements for the year ended 31 July 2023. The financial statements have been prepared in accordance with the accounting policies set out in ,note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). ## Objectives and activities The Charitable Company was formed to benefit the inhabitants of Higher Bebington and the surrounding area through the establishment and management of a community centre. ## Strategic report The following sections for achievements and performance and financial review form the strategic report of the charity. ## Achievements and performance ## Significant activities and achievements against objectives During the reported period the twelfth year of running Victoria Hall as a community asset, the period beginning 1st August 2022, was one of change. The SARS coronavirus pandemic had/has not gone away. Its impact brought about a refocus in the processes and practices relating to the management of the hall by the Centre Development Officer and the trustees. From the tentative return of regular hirers and their groups in September 2021 and through this reported financial 2022-2023 period, new hirers have extended the opportunities on offer at Victoria Hall to the people of Wirral. A change to the business focus was brought about by the number of regular hirings at weekends, essentially 52 weeks in the year, which meant that one off events/celebrations could no longer be accommodated. Victoria Hall's essential purpose as a place for education and recreation is fulfilled as shown by its Articles of Association. The two halls and the Exhibition Room, the catering kitchen and refreshments kitchen are welcoming spaces cleaned/cared for by an amazing team. Storage has been reorganised with the removal of bar fittings/fixtures to provide further secure space for equipment. The Exhibition Room is a multi functional, pleasant social space hired for craft workshops, formal meetings, as well as for refreshments by regular groups. August 2022 saw the completion of a business survey from the local authority on the effect of the pandemic. The Victoria Hall CDO and trustees had developed a covid safe environment. The September 2022 letter to hirers reminded them the pandemic was not over. The fifth edition since March 2020 of the covid related risk assessment policy stayed in place, to support the health and safety of the hall’s extended community. Although a charity with responsibility for maintaining and running a historic building, the CDO and trustees view the wellbeing of each user to be at its heart. It was made clear in the response to the survey the paramount nature of the human aspect, of education for life against business as usual. Rebuilding confidence was a necessity. 9th September 2022 Victoria Hall heid its popular Heritage Open Day event with Swan Movie Makers providing a further programme of their magnificent local history films. The death of Her Majesty Queen Elizabeth Il had been announced the afternoon of Thursday 8th September 2022. ## Events were cancelled nationwide. The heritage event programme was considered appropriate to the occasion and it continued. All who had booked were contacted and given the opportunity to withdraw. Everyone came. The evening began with a period of silence in remembrance of Her Majesty. It was felt to have beena fitting way to remember the life of service of Elizabeth Il. -4- ## VICTORIA HALL COMMUNITY TRUST LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) ## FOR THE YEAR ENDED 31 JULY 2023 In May 2023, a film crew hired available rooms as a base for 2 days while filming locally. After several years of uncertainty and many challenges, the changes to how Victoria Hall operates have been shown to be effective. An underlying concern in the financial period has been the effect of rising costs on the running of the hall. in September 2022 the rate of room hire was increased. Storage charges were costed based on the designated allotted space. In addition, hirers were required to pay by BACs to eliminate bank charges placed on each cash/ cheque transaction. ## Financial review ## Reserves Policy The Trustees have determined that sufficient reserves will be held to ensure Victoria Hall is maintained to a high standard. This will equate to six months running costs, in addition to funds allocated as Revenue Support and Operational Equipment from the Social Fund (Wirral Council's Capital Asset Transfer Fund). The latter are maintained to support/fund salaries, major maintenance, continuing refurbishment and development works. ## Principal Funding Sources During the period under review, Victoria Hall Community Trust Limited continued to draw down on the funds provided. Unrestricted funding in the period was predominantly through hall hire. There is an operating surplus of £5,253. ## Current Plan/Future Developments Victoria Hall continues to be maintained and preserved. In the financial period 2022-2023, energy efficient LED lighting replaced halogen lights in The Exhibition Room. In the larger hall, too, LED lighting replaced fluorescent tubes improving the quality of light and transforming the room. The removal of bar fixtures and fittings has enabled a reorganisation of the bar into a much needed storage space. The purchase of industrial shelving will provide additional storage. Plans have been agreed for the larger hall store room: reinstate ventilation bricks; its floor to be insulated and levelled to that of the hall. The defunct catering dishwasher to be removed and replaced by a washing machine enabling the cleaning team to wash their mop heads, dusters, cleaning cloths. The side gate to be replaced. ## Structure, governance and management ## Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006. Victoria Hall Community Trust Ltd registered with the Charity Commission on 22 September 2011 to enable the Trustees to complete negotiations with Wirral Metropolitan Borough Council (WMBC) to take into community use Victoria Hall in Higher Bebington, Wirral under the Council's Community Asset Transfer Scheme (CAT). ## Risk management The trustees have a duty to identify and review the risks to which the charity is exposed to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. They are satisfied that systems are in place to mitigate exposure to major risks. -2- ## VICTORIA HALL COMMUNITY TRUST LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) ## FOR THE YEAR ENDED 31 JULY 2023 The Trustees present their annual report and financial statements for the year ended 31 July 2023. Mrs. S. Smith Mr. O. A. Allen Mrs. J. Evans Mrs. V. Jones Recruitment and appointment of trustees The Trustees report, including the strategic report, was approved by the Board of Trustees. Trustee Nh ; XO 4- Date: LN Ant. 52 -3- ## VICTORIA HALL COMMUNITY TRUST LIMITED ## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF VICTORIA HALL COMMUNITY TRUST LIMITED | report to the Trustees on my examination of the financial statements of Victoria Hall Community Trust Limited (the charity) for the year ended 31 July 2023. ## Responsibilities and basis of report As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## Independent examiner's statement | have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or 2 _ the financial statements do not accord with those records; or - 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or - 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). | have no concerns and have come across no other matters in connection with the examination to which attention should be-drawn in this report in order to enable a proper understanding of the financial statements to be reached. Horner Downey 8 Corhipany Limited \ \ 10 StadiurirGourt ><_ Stadium Road Bromborough Wirral CH62 3RP | ## Dated: MYL th. -4- ## VICTORIA HALL COMMUNITY TRUST LIMITED ## STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT ## FOR THE YEAR ENDED 31 JULY 2023 |||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---|---| |||funds|funds||funds|funds|| |||2023|2023|2023|2022|2022|2022| |Notes||£|£|£|£|£|£| |Income from:|||||||| |Charitable activities|3|38,996|-|38,996|37,408|-|37,408| |Other trading activities|4|2|-|2|-|-|-| |Total income||38,998|-|38,998|37,408|-|37,408| |Expenditure on:|||||||| |Raising funds|5|56|-|56|-|-|-| |Charitable activities|6|31,754|1,865|33,619|25,470|203|25,673| |Total expenditure||31,810|1,865|33,675|25,470|203|25,673| |Net income/(expenditure)|and||||||| |movement in funds||7,188|(1,865)|5,323|11,938|(203)|11,735| |Reconciliation of funds:|||||||| |Fund balances at 1 August|||||||| |2022||57,023|25,992|83,015|45,085|26,195|71,280| |Fund balances at 31 July|||||||| |2023||64,211|24,127|88,338|57,023|25,992|83,015| The statement offinancial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. -5- ## VICTORIA HALL COMMUNITY TRUST LIMITED ## BALANCE SHEET ## AS AT 31 JULY 2023 ||||2023|||2022|| |---|---|---|---|---|---|---|---| ||Notes|£||£|£||£| |Fixed assets|||||||| |Tangible assets|10|||647|||407| |Current assets|||||||| |Debtors|11|537|||3,563||| |Cash at bank and in hand||89,696|||81,093||| |||90,233|||84,656||| |Creditors: amounts falling due within|12||||||| |one year||2,542|||2,048||| |Net current assets||||87,691|||82,608| |Total assets less current liabilities||||88,338|||83,015| |The funds of the charity|||||||| |Restricted income funds|13|||24,127|||25,992| |Unrestricted funds||||64,211|||57,023| |||||88,338|||83,015| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2023, The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject toThethe financialsmall companies statementsregime. were approved by the Trustees onApr, BOR 4. Mrs. S. Smith Trustee Company registration number 07705033 (England and Wales) -6- ## VICTORIA HALL COMMUNITY TRUST LIMITED ## NOTES TO THE FINANCIAL STATEMENTS ## FOR THE YEAR ENDED 31 JULY 2023 - 1 Accounting policies ## Charity information Victoria Hall Community Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Victoria Hall, Victoria Hall Walk, Higher Bebington, CH63 8AB. - 1.1. Accounting convention The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. ## 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. - 1.3. Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. - 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. -7- ## VICTORIA HALL COMMUNITY TRUST LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023 ## 1 Accounting policies ## (Continued) - 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is 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 attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Plant and equipment 33% straight line Computers 33% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## 1.7 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. -B- ## VICTORIA HALL COMMUNITY TRUST LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023 ## 1 Accounting policies ## (Continued) ## Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. ## 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## 2 Critical accounting estimates and judgements In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. -9- ## VICTORIA HALL COMMUNITY TRUST LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) ## FOR THE YEAR ENDED 31 JULY 2023 ## 3 Income from charitable activities |||Unrestricted|Unrestricted| |---|---|---|---| |||funds|funds| |||2023|2022| |||£|£| ||Income||| ||Hall hire|38,373|34,520| ||Sundry income|25|25| ||Covid grants|-|2,667| ||Donations||| |||598|196| |||38,996|37,408| |4|Income from other trading activities||| |||Unrestricted|Unrestricted| |||funds|funds| |||2023|2022| |||£|£| ||Bank interest|2|-| |5|Expenditure on raising funds||| |||Unrestricted|Unrestricted| |||funds|funds| |||2023|2022| |||£|£| ||Fundraising and publicity||| ||Advertising|56|-| -10- ## VICTORIA HALL COMMUNITY TRUST LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023 ## 6 Expenditure on charitable activities ||Heading|Heading| |---|---|---| ||#ac982|#ac982| ||2023|2022| ||£|£| |Direct costs||| |Staff costs|11,888|11,434| |Depreciation|425|202| |Subcontractor costs|3,008|1,252| |Water rates|1,391|837| |Light & Heat|6,770|5,279| |Repairs & Maintenance|4,834|2,141| |Insurance|1,667|1,524| |Sundries|13|13| |Telephone|922|805| |Office costs|865|474| |Bank charges|125|46| |Accountancy|1,618|1,588| |Legal & Professional|50|50| |Catering|43|28| ||33,619|25,673| |Analysis by fund||| |Unrestricted funds|31,754|25,470| |Restricted funds|1,865|203| ||33,619|25,673| ## 7 Trustees None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. ## 8 Employees The average monthly number of employees during the year was: |2023|2022| |---|---| |Number|Number| |2|2| -11- ## VICTORIA HALL COMMUNITY TRUST LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) ## FOR THE YEAR ENDED 31 JULY 2023 |8|Employees||(Continued)| |---|---|---|---| ||Employment costs|2023|2022| |||£|£| ||Wages and salaries|11,791|11,336| ||Social security costs|7|-| ||Other pension costs|90|98| |||11,888|11,434| There were no employees whose annual remuneration was more than £60,000. ## Remuneration of key management personnel The remuneration of key management personnel is as follows. ## 9 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 10 Tangible fixed assets |Tangible fixed assets|||| |---|---|---|---| ||Plant and|Computers|Total| ||equipment||| ||£|£|£| |Cost|||| |At 1 August 2022|18,949|2,726|21,675| |Additions|-|665|665| |At 31 July 2023|18,949|3,391|22,340| |Depreciation and impairment|||| |At 1 August 2022|18,949|2,319|21,268| |Depreciation charged in the year|-|425|425| |At 31 July 2023|18,949|2,744|21,693| |Carrying amount|||| |At 31 July 2023|-|647|647| |At31July2022|-|407|407| -12- ## VICTORIA HALL COMMUNITY TRUST LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023 |11|Debtors||| |---|---|---|---| |||2023|2022| ||Amounts falling due within one year:|£|£| ||Trade debtors|393|3,376| ||Other debtors|-|107| ||Prepayments and accrued income|144|80| |||537|3,563| |12|Creditors: amounts falling due within one year||| |||2023|2022| |||£|£| ||Other taxation and social security|173|154| ||Other creditors|334|277| ||Accruals and deferred income|2,035|1,617| |||2,542|2,048| ## 13 ‘Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. ||At1 August|Resources|At 31 July| |---|---|---|---| ||2022|expended|2023| ||£|£|£| ||25,382|(1,865)|23,517| |Operational Equipment|610|-|610| ||25,992|(1,865)|24,127| |Previous year:|At1 August|Resources|At 31 July| ||2021|expended|2022| ||£|£|£| ||26,195|407|26,602| |Operational Equipment|-|(610)|(610)| ||26,195|(203)|25,992| -13- ## VICTORIA HALL COMMUNITY TRUST LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023 ## 14 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. ||At 1|August|Incoming|Resources|At 31 July| |---|---|---|---|---|---| |||2022|resources|expended|2023| |||£|£|£|£| |General funds||57,023|38,998|(31,810)|64,211| |Previous year:|At 1|August|Incoming|Resources|At 31 July| |||2021|resources|expended|2022| |||£|£|£|£| |General funds||45,085|37,408|(25,470)|57,023| |Analysis of net assets between funds|||||| ||||Unrestricted|Restricted|Total| ||||funds|funds|| ||||2023|2023|2023| ||||£|£|£| |Fund balances at 31 July 2023 are represented|by:||||| |Tangible assets|||1,072|(425)|647| |Current assets/(liabilities)|||63,139|24,552|87,691| ||||64,211|24,127|88,338| ||||Unrestricted|Restricted|Total| ||||funds|funds|| ||||2022|2022|2022| ||||£|£|£| |Fund balances at 31 July 2022 are represented|by:||||| |Tangible assets|||610|(203)|407| |Current assets/(liabilities)|||56,413|26,195|82,608| ||||57,023|25,992|83,015| 15 Analysis of net assets between funds ## 16 Related party transactions There were no disclosable related party transactions during the year (2022 - none). -44-