Charlty Reglstration No. f144813 Company Regl$tratlon No. 07705089 (England and Wales} PLAS GUNTER MANSION TRUST CYF TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
PLAS GUNTER MANSION TRUST CYF LEGAL AND ADMINISTRATIVE INFORMATION Trustees DEODaMe5 J D Holland AE B Koniéczny Dr G M waaY DrRCAlen P C Bovryer (Appointod 14 August 2024) (Appointed 27 Sept8mb&r 2024} (Appointed 3 April 2025) C J Gingell Charfty number 1144813 Company number 07705089 Reglstgrad 0ffl¢? 39ACross Street Aberg8venny Monmouthshire NP7 SER Webslte .plasguntèrmansion.org.uk Independent examlnOT Dorrell Oliver Ltd Lindèn House Monk Street Abergavenny MonmoLJlhshire NP7 5NF Bankeys Unity Tru818ank Customèr Serviceg Centre Nine Brindley Place Birmingham B12HB
PLAS GUNTER MANSION TRUST CYF CONTENTS Pago Trustees, report Slatemenl of Iruste&s' re8pon8ibilities Independent examlner'$ report statement of financial activities Balance sheet Notes to the financial statemènts 8-14
PLAS GUNTER MANSION TRUST CYF TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The truslogs present their annual report and finandal statements lor the year ended 31 December 2024. The financial statements have been prepared in accordance wilh the accounting policie$ sel out In noto 1 to the financial slalemenls and comply wsth the trust's Memorandum of Association, the Companies A¢t 2006 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Finane4al Raporting Standard applicable in the UK and R8publie of Ireland {FRS 1021 (effective 1 January 20191" ObJo¢tlve5 and actlvltle$ The Trust was sel up as the Welsh Georgian Trust in 2011 to preserve for the benefit of the peOe of Wdles and the Welsh Marche$ and of the Natlon. the historical. architectural and con$lrurtional herrtage that may gxisl in and around Wales and the Welsh Marthes in Georgian and Pr&Georgian buildings {inGluding any $tructure or erection, and any part of a bullding as so defined) of parts'cular beauty or historical, arehileclural or constructional Inte¥t. On 12th March 2020 the namè was changed to Pla$ Gunter Manslon Trust cyf tr) reftecl th? focus on Ihe Plas Gunter Manslon prolecl. Plas Gunter Mansion Datin9 largety from Ihe 17th CentLry, Plas Gunter Mangioh (37-39a Cross Stree( Abergavenny) played a pivotal role in the history of Catholicism in Wales and is dosety associated wth Saints David Lewis and Philip Evans. It has long been recognised as being one of the m08t important histori¢ buildings in Abergavenny but had fallen into a perilous slalo. The Trust bought the bullding in 2017 for £150.000 with a mixlure of grant and crowd funding. Aftw several years of fundraising and business planning, the National Lottery Heritsge Fund awarded the Trust a gant of up to £222,340 in December 2023 to devolop plans for the renovation and rouse of the buildir*J. The development period lasted throughout 2024 and culminated in June 2025 the submission to the Nation81 Lott6ry Hérltage Fund of a fundlng appllcatlon to dellver the plans. During the development period, the Trust appolnled a team of consutsnls including archllects and design team, activity and InterptatIOn planners. business planners. fundraising advisors and evaluation monitor. De$lgn plans were drawn up for lour commerclal units, inl8rpretstlonlexhibilion spac85 and tsvo lettable offic85. A proposed small extenslon at the rear of the buildlng will house a staircase, platforrn IrfL plant room and amenity SPas. A range of activiti8s to appeal to different audiences was designed and the busnes$ plan was thoroughly tested again81 eomparable organi$ati)ns. MatGh funding is belng sought. The Trust will hear the oulcome of their funding application to the National Lottory Heritage Fund in October 2025 and if SeSSI1 expe¢l$ prelimlnary work to stsrt from Febnjary 2026 wilh extensive building works from September 2026 for around 12 months. The Trust 18 algo in the proc888 of purchasing latsj at the rear of the building which would originally have b¢on ils garden. Currently. income is provided by the letting of three retail units on the ground floor.. 37, 38. ard 39 Cross Street. Units 37 and 38 are successfulty let lo Moorin98 and Moor. trading as Dynamite Branding, and unil 39 is let to Amatsu Massage. Both tenants, leases are du& lo end in January 2028. Unit 39a is not let and is occupied by the Friends of Plas Gunter Mansion. The upper floor5 Qf thg buildlng are vacant due to the fragile nature of the historic building fabric.
PLAS GUNTER MANSION TRUST CYF TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 en the Trust look oWr$hiP of the building in 2017, a s¢paratsly constituted group under the name Friends of Plas Gunter Mansion was Set up lo develop wde8pread 8UPP¢rt for the project, conduct hi$torico1 research, help with fundralslng and raise the project's profile. After the Trust Changed ils name to Pla$ Gunter Mansion Trust, members of the group were recruited as members of the Trust while the Frlends continued as an unlncorporaled voluntary group bocause of its ability to access lunds not available lo the Trust. More infomation on the project can be found al Pla8 Kyna8ton In December 2021 the management company for Plas Kynaston, Plas Kynaston Management Company Limited, was transferred to the leaseholders. The freehold of the buildlng is Still owned by the Trust together with an oulslanding loan lo Vwgxham County 8orough Council of £20,000. This Is being repaid at a ralg of £900 per annum until 2026, when th8 expiry of a grant eovenant (from the Cefn Mawr Townscape Hgril Fund g¥anll wll allow the sale of the freehold interest to provtde funds for repayment. Achlevements and p8rfomwnc• Flnanclal review The results for the year are as shown +)n the Ststement of Flnancial klivilies on page e. Reser¥es Poli¢y 11 18 the pollcy of the trust Ihat unrestricted funds whlth have not been designated for a sCl use $houl¢J be malntslned at a level equivalent lo belAveen three and slx months expenditure. The trustees e£Jnsiders that reserves al thi5 level will ensure that, in the ent of a significant drop in fvnding, they will be able lo continue the trust's current aetSvili&$ whilg conslderadon Is glven lo ways in which additional lunds may be raised. 11 is antlclpaled that it may take a number of years to bulld reseNe$ to the desired level. Rlsk Pjjanagomont The trustees have aSsed the mapr risks to which the trusi is exposed. and are $ati5fied that systems are in placa lo mitigate exposure to the major risks. Structsrn> governance and managemonl Constitutkln The company Is registerèd a$ a Gharilable company limlted by guarantee and was Set up by a Memorandum of Association on 9 Juty 2011, and is a rogistergd charity. The trustees, vh) are al80 the directors for the purpose of company18w. and who served during thg year and up to the date of signature of the fin•Kial $tnentS were: D E O Davies J D HOlld A E B Konieczny Dr G M Wakley Dr R C Allen P C Bcwyer C J Gingell (4)poinlgd 14 August 2024) (Appolnled 27 September 2024> (Appointed 3 April 20251
PLAS GUNTER MANSION TRUST CYF TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The management of the company is the resposibility of the Tru¥tees who are elected and co-opted under the lenn$ of the Articles ofAs8ouation. None of the trustees has any beneficial interest in the company. Al of tho trustees are member8 of the company and guarantee to nIrItsute £1 in the event of a nd1rIg up. The affairs of the Trust are managed by the Trustees who make strategic and operational decisions at thelr meetings, which ar& held several times a year. Trustee$ are appointed by invitation and are recruited for their skills and exFerience in a specific area depeTrJing on where there are sknll gaps al thè lime. The tNsteès' report was approved by the Board ofTrustses. D E O Davlgs Trustee Dated: 19Augu$t 2025
PLAS GUNTER MANSION TRUST CYF STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees, who are 8150 the directors of Plas Gunter Mansion Trust CYF for the purpose of coMpY law. are responsible for prepanng the Trustees, Report and the financial slalemenls in accordance with applicablg law and Unit8(l Kingdom A¢¢ounling Standards (United lQ'ngdtsm Generally Accepted Accounting Practice). Company law requires the trustées lo prepare financial statements for each finandal year whlch glve a true and fair view of the slate of affairs of the tnjsl and of the incoming resourGe5 and application of resources, including the Income and expenditure. of the tharilable company for that year. In preparlng these f*nan¢ial slalements, the trustees are required to.. - select suitable accounting polic4es and then apply them consislerfy.. - observg the methods and prIlpIeS in the Charities SORP., make judgements and estimates that are reasonable and prudent- stale whether applicable UK Accounting Standard8 have been followed, subject to any material departure$ dixlosed and explained in the financial statemen18,' and prepare the finanoal statements on the going concem basis unless Il is inappropriate lo presume that the tnjst wll conllnue In operation. The trustees aro responsible for keeping adequate accounting records that disdose with reasonable accuracy at any limo the financSal position of the trust and enable them lo ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps forthe prevention and detection of fraud and other irregularities.
PLAS GUNTER MANSION TRUST CYF INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PLAS GUNTER MANSION TRUST CYF l pOrt lo the Iruslees on my exambnalion of the financtal statements of Plas Gunter Mansion Trust CYF (the trust) for tho year ended 31 December 2024. Responslbllllles and ba$ls of report As the Iruslees of the trust land also its dirèctors for the purposes of company lawl, you are rospon8ible for the preparation of tho financial statements in accordance with the requirements of the Companies Act 2006. Having $alisfied myself that the financlal slalemenl8 of the trust are not rèquired to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the trust's financial statements carried out under sectlon 145 of the Charities Act 2011. In rry1r@ out my examination I have followed the Directions given by the Charity Commission under sectton 145{5)(b) of the Charrties Act 2011. Independént oxamlnerfs statement I have completed my gxaminatlon. I Conffi that no matters have crthe to my attention in wnnection wlh the examination giving me cause to believe that in any material respect: accounting records were not kept In respect of the trust as required by 5edion 386 of Ihe Compankgs Act 2006. the financial statements do not accord with those record5,' or the financial slalements do not comply with the accounting requlremenls of section 396 of the ComrAnie$ Act 2006 other than any requlrèmenl that the financial slalemen18 give a true and falr view, which is not a matter considerèd as part of an independent examinadon-, or the financial ststements hav& not been prepared in accordance with the methods and prindples of the Statement of Recommen¢Jed Practice for accountlng and reporting by charitles applicable to charities preparing their financial statements in accordance with the Flnancial Reporting Standard applicable in th& UK and Republic of Ireland {FRS 102). I hav6 no concems and have Come across no other matter8 in conngdion wth the examSnallon lo whlch att&ntion should be drawn In this report in order to enable a proper understsnding of the financial statem¢nls lo be reach8d. Peter E Lea FCA Dorr811 Oliver Ltd Linden House Monk Street Abergavenny Monmoulhshir8 NP7 5NF Dated.. 19 August 2025
PLAS GUNTER MANSION TRUST CYF STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrostricted Rgstrlctsd funds fund5 2024 2024 Totsl Unrestrlcted Restrlcted funds funds 2023 2023 Total 2024 2023 Notes Incomo from: Donation$ and legacles Investments 9.728 14,846 112,982 122,710 14.846 3,978 13.840 27.300 31,278 13.840 Total In¢ome 24,574 112.982 137,556 17,818 27,300 45.118 Expgndltur¢ on: Charitsble actlvltie8 21,191 134.463 155.654 11.601 46.164 57.765 Total expendltur• 21,191 134.483 155.654 11,601 46,164 57.785 Net Incomel{expendlture) and movemant In funds 3.383 <21,481) {18.0981 6,217 118,e64} 112.6471 Reconeiliatlon of funds: Fund balances at 1 January 2024 11,416 154.000 165.416 5,199 172,864 178,C63 Fund balanc at 31 De¢omb¢r 2024 14.799 132,519 147.318 11,418 154,000 165,416 The $latgment of financial aclivilse8 Includes all gains and losses recognised in the year. All 1me and 8xpendilure demve frorn continuing a¢tivitie5.
PLAS GUNTER MANSION TRUST CYF BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Flxed assets Tangible assets Current assets Debtors Cash at bank and in hand 10 164.000 165,000 11 9.805 22.761 8,574 10,725 32,386 19,299 Credltors: amounts falling dua wlthln one year 12 (49,048) {18,8831 Nèt current (liabilitiesllassets {16,682) 416 Total assots1o$8 Current Ilabllltle8 147,318 165,416 Incomo funds Restricted funds Unrestricted funds 13 132.519 14,799 154.000 11.418 147.318 165.416 The company is Onl8d lo the exemption from the audit requirement contained in section 477 of thè Companies Act 2006. for the year ended 31 December 2024. The directors acknowledge their rèsponsibilities for complying with the requlremenls of the CompaThes Act 2006 with respect to accounting rgcords and the pr8par*'on of fina[?1 stalements. The member5 have not required the company lo obtsln an audrt of its financlal stat@menls f Ihe year in question in accordance with section 47S. These financial statèments have been prepared in accordance wth the provisions applicable to companies subje lo tha Small companies regime. The finanoal statements were approved by the Trustees on 19Augusl 2025 D E O Davies Trustsè Company Registration No. 07705089
PLAS GUNTER MANSION TRUST CYF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Ac¢ountlng pollcle8 Charlty informatlon Plas Gunter Mansion Trust CYF is a prlv8te company limited by guarantee ineorporaled in EnglarKI aThJ Wales. The registered Offi 13 39A Cross Street. Abergavenny. Monmoulhthire. NP7 SER. 1.1 Accountlng convontlon The finandal $tatemenls have been prepared in accordance with the trust's Memorandum ofASlation, tho Companies Act 2D06 and "Aceounling and Reporting by Char51ies.' Statement of Recommended Praet applicable lo charities preparing their accounts In a¢cordance wth the Financlal Reportin9 Standard applicable in the UK and Repu1¢ of Ireland (FRS 102) (eff8CtNe 1 January 2019)". The trust 15 a PublSc Benefit Entity as defined by FRS 102. The trust has taken advantage of the provisions in the SORP for charities applylng FRS 102 Update Bulletln 1 not to prepare a Statement of Cash Flows. The financsal statements are prepared in $lerling, which is thg functional ujrrency of the tnjsl. Monetsry 8mounls in these financial slalements are rounded to the nearest £. The financlal slalgments have been prepared under the hist0Cal cost convention. The principal accounfjn9 policies adopted ale set out bel¢)W. 1.2 Golng eort¢ern At the time of approving the financlal sl8lements. the trustees have a rea$on8ble expectation that tr)• trust has adequ8te resources lo continue in operational existence for the foreseeable fvlure. Thus the Iruslees ontinue to adopt Ihe going concem basis of accounting in pr&paring the finanG5al ststements. 1.3 Charttablo funds Unreslricled funds are avai18ble for use at discretion of the trustees in furtherance of their charitable obS8ctives. Restrided funds are subjeGt to speclflc conditions by donors or grantors as to how they may be used. Th8 purposes and uses of the restricted funds are sel out in the notes lo the financial stalernents. 1.4 Income Income is recogrbisad when the tNSt is legally entttled lo it after any perfomiance condiilons have been mel, the amounts can be measured reliably, and it is probable that Income will be recelved.
PLAS GUNTER MANSION TRUST CYF NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Ac¢ountlng policie5 {Contlnuod 1.5 Expenditure Expenditure 18 recognised once there Is a legal or conslruch've obligation to transfer economic benefit lo a third party, it is probabl& that a transfer of economlc benefits will be required in settlement and the amount of ttie obligation can be measured reliably. Expanditure 18 classified by actlvity. The costs of oach athwty are made up of the totsl of dired costs and shared costs. including support eo$ls involved In undertaking each aclivily. Direct costs 8ttrlbute to a single activity are allocated directly to that aclivity. Shared costs which onlribute to more than one activity and support ¢osls which are not attributable to 8 single activity are apportioned betsveen those activili8s on a basis ¢onsistenl wlh the usg of resource$. Central staff costs a allocated on the basis ot lime spent, and depreaation charges allocated on the portion of the asset's use. SupFOrt ¢osts are those costs Incurred d1Cl in support of eXnditUre on the objects of the company and include project management ¢arried ovt at headquarters. Govemance costs are those incurred in eonnection with the administration of the company and compllance with constitut¢onal and statutory requirements. Charitable activiliey and governance costs are costs Incurred oh the compan3 educational operations, including support costs and costs relating lo tho governance of the ccfftpany apportion8d to charftabbe activities. All expenditure 1$ inclusive of irigcoverable VAT. 1.6 Tanglble ftxed assets Tangible fixed assets ara initially measur¢d al cost and subsequenlly measured al cost or valuation, net ol depredallon and any impairment bsses. Deprecl8lk)n its recognised 80 as to lte off the cost or valuatvJn of assetslgss their SIdUal values over their useful Ilves on the follong bases.. Freehold land arKI buildings 5% Stralght1Sre The gain or loss arising on the disposal of an asset is delemilned as the difference behveen the sale proceeds and the carrying value of the asset. and is recognlsed in the statement of financlal activities. 1.7 lrnpaIent offlxed ass•ts At each reporting end date. the trust reviews the carying amounts of its tangible assets to delemiine whether there is any indication that those assets have SLffiered an impaimienl105s. If any such indicatlon exlsts, the recoverabl¢ amount of the asset 1$ e$limat8d in order lo determlne the extent of the impairment l¢)ss lit any). 1.8 Cash and ¢a$h equival•nts Cash and cash equivalents includ6 cash in hand, depOts hetd at call yth banks, and bank ovérdrafts. Bank overdrafts are 8hovdn within borrowings in current IlabS1ilie8. 1.9 Flnanclal Instruments The trust has elected lo apply the provi8ions of Seclicn 11 'Ba$ic Finandal Instruments, and Sedton 12 '0ther Finartcial Instruments 185ues' of FRS 102 to all of its financial Instruments. Finanaal instruments are reeognised in the Iru8V$ balance 8heel when the trust becomes paty to the contractual provisions of the inslrumenl. Basic financial assets Basic financial as8els, which include debtcts artd cash and bank balan¢8s, are measured at Iransacti¢)n price induding transaction costs. Finanal assets dassified as receivable wlhin one year are not amortised.
PLAS GUNTER MANSION TRUST CYF NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollrles (Continued} Baslc flnaneial Ilabllities Basic financlal liabilities, indudlng ueditors and loan5 are reeognised at transaction prtee. Trade creditOf8 are oblig8tSons lo pay for goods or services that have been acquired in the txdinwy course ol operations Donations and legacl•s Unrgstrictsd Rgstrlctgd funds tunds Total Unrestricted Restricted funds funds Total 2024 2024 2024 2023 2023 2023 Donations and glfts Grants embership fees 9,728 9,728 112.982 3,668 3,668 27,3C 310 112.982 27,300 310 9,728 112.982 122,710 3,978 27,300 31,278 In¢om• from Investrnonts Unrestrictsd Unrestricted funds funds 2024 2023 Rental income Interest receivable 14.656 190 13.580 14,846 13,840 10-
PLAS GUNTER MANSION TRUST CYF NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expondtture on charftable actlvltlos 2024 2023 Dlrect costs Depreciation and impaimenl PreseNalion of HistoricAtrchriecture 1.000 139.269 1,OfyJ 41,714 140,269 42,714 Share of support and governance ¢osts18o0 note Sl Support Goveman 13.941 13,876 1.175 155,654 57.765 Analysts by fund Unrestricted funds Restricted funds 21.191 134.463 11,601 46,164 155.654 57.765 support costs allocatsd to acthfities Total 2024 Total 2023 Computer costs 318 519 6,186 71 1.957 60 1,444 181 Insurance Bank charges Administrative a$sslance Telephone Governance 5,652 72 7,S71 1,175 10.555 15,051 2024 2023 Governanc• ¢osts comprise- Independant Examiner Tiuslees expenses Heritage Trust 1,036 100 1,444 1.175 11
PLAS GUNTER MANSION TRUST CYF NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Nel movemonl In funds 2024 2023 Tha net movement in funds is stsled after chargingl{crediting)-' Fee$ payable for the independent @xamln8tlon of the charity'8 flnanual statements Depreciation of owned tsngible fixed assets 1,444 1.000 1.038 1,000 Trustees One ofthe trustees received £13,901 for provlding project Coordination work to tho trust durlng the year. Employees The average monthly number of employees during the yfrar was: 2024 Number 2023 Numbgr Total There were no employees whose annual remuneratlon was more than £80,000. Taxallon The charfty is exempt from laxation on ils aclivitles because all its income Is applied for charitsble purposes. 10 Tangible fixed assets Frn•hdd land and builthngs Cost Al 1 January 2024 170,000 Al 31 December 2024 170,000 D•prfr¢latlon and Irnpalrmont At 1 January 2024 Depreciation charged in the year 5.000 1,000 At 31 December 2024 6,000 Carrying amount At 31 December 2024 164,000 At 31 December 2023 165,000 12-
PLAS GUNTER MANSION TRUST CYF NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 1)ebtors 2024 2023 Amounts falling due wlthin one year: Trade debtors Other debtors 1.348 8,257 9,605 8.574 12 Credltors: amounts falling due wlthln ong year 2024 2023 Borrowtngs Trade credrtors Accruals and deferred income 1 $,500 32,268 1,280 17,300 283 1,300 49.048 18,883 Induded in borrowOng8 is an amount of £15,50012023.. £17,300> which is secured by way of a legal charge over part of the freehold propety thown as Plas Kyn85lon Hall, Cefn Mawr in favour of Wrexham County Borough Council. 13 Restrlctèd funds The restricted funds of the charity comprise the umxpended balances of donation5 and grants held on trust subject to specific con¢Jilion5 by donors as to how they may be used. At 1 January 2024 Incoming rgsources Resout5 oxpgnded At31 Dgcember 2024 Plas Gunter Mansion Fund 154.0(KJ 112,982 1134,463) 132,519 Prwlous year: At 1 January 2023 Incomlng resources Resourc9S expended At31 Decemb•r 2023 Plas Gunter Mansion Fund Friends of Plas Gunter Man8lon 160.000 12,864 27.300 133,3001 112,8641 154,000 172.864 27,300 146,1641 154.000 13-
PLAS GUNTER MANSION TRUST CYF NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Unrestrlcted funds unre8lricted funds of the ¢har'ty comprise the unexpended balances of donallens and grants whith are not sublect to specific conditions by donors and grantors as to how they may be used. These include desiated funds which have been set asde out of unrestricted fund$ by the Iruslees for SpefiC purposes. At 1 January 2024 Incomlng Resources resourc gxpend•d At31 Dgcfrmbgr 2024 Genera funds 11,416 24.574 121.1911 14.799 Pr•viou$ year: At l January 2023 Incoming Resour¢8S rgsourcgs expended At31 Decembèr 2023 GeneRI funds 5,199 17,818 {11.6011 11.416 15 Analysi$ of net assets b6tw¢on funds Unregtri¢tod funds 2024 Restrictod funds 2024 Total 2024 At 31 Dec8mber 2024: Tangiblg assets Current asselsl{liabilitle$l 31,481 116,682) 132,519 164,000 (16.6821 14.799 132.519 147.318 Unrostrktsd funds 2023 Restrlctgd fund$ 2023 Totsl 2023 At 31 Decomb•r 2023: Tangible assgls CuTrenl assatsl{liabilitie$) 11,000 416 154,000 165.000 416 11.416 154,000 165,416 18 Related party tran$a¢tlons The were no disclosable related party transactions during the year12023- none). 14-