ReglBt•red number. 07334198 Charity number. 1144833 MORGAN CLARK FOUNDATION (A company Ilmlted by guarantse) UNAUDrrED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
MORGAN CLARK FOUNDATION (A company Ilmlted by guarnntse) CONTENTS Pag• Reference and admlntstrallve detalkn of the Charlty, its Trustee9 and advisarn Trustee8' report Independant •xaminefs report Ststsment of financlal activttles Balanco sheet Notes to tho flnanclal statements 9-20
ORGAN CLARK FOUNDATION (A company limltsd by guarantse) REFERENCE AND ADMINISTrATIVE DEfAILS OF THE CHARrrY. rrs TRUSTEES ANDADVISERS FOR THE YEAR ENDED 31 AUGUST 2024 Mrs G Morgan Mr P N Morgan Company reglstered number 07334198 Charlty reglstsred number 1144833 Reglstered offke Unit 18 Old Parf( Farm Ford End Chetrnsford CM3 1LN Accountsnts Shw G1 bs {Audit) Limitod Wey Crt West Union Road Farnham Surrey GU9 7PT Pag6 1
AIORGAN CLARK FOUNDATION (A company Ilmltad by guarante8) TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 20 The Tnjstees present thelr annual report logether wlth the financial Statements of the Charity for the 1 September 2023 to 31 August 2024. The Annual report $erve8 the PU of both a Trustees, report and directors, rnport urKler company law. Tr Trustees confirm that the Annual report and financial 8tat8ments of the charltable company comply with the Current statutory requirements, the requlrements of th8 charrtablo companls goveming document and the provisions of the Statement of Recommended PractKe (SORP) appllcable to chartties preparfng their accounts in accorthnce with the FinancRI Reporttng Standard applble In the UK and Republfc of Ireland (FRS102) (effecti 1 Janwy 2019). SSnc8 the Charlty qualifies as small under SlI0n 382 of the Companle8 Act 2006. the Strateglc report requlred of medlum and large cornpanies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omltted. ObJ•ctfvo8 and actlvftle8 • Pollclm and obJ•th Tha CharW8 obJac18 are: - To advance the educatk>n of the publlc kn the RebublEc of tho Gambla othor d•v•loplng countrfe•, In parttcular in the North Bank region of the Gambla, through provldlng, malntalnlng and aquipplng the local communlty wlth mateth and f8c111ts8, amurlng that th• 8latuW oblKJatKin ol any k¢al 8latutory authorty are not relieved. . Such charttable purpose8, for ts benefit of the publlc in tho Repubk of the Gambia and other developlng counlrles, in particular in the North Bank reglon of the Gamb, as are excluslvety charilable accordlng lo the laws of England and Wales as Ihe Trustees may from time to time determine. In Settlng obJecllve8 and pknnlng for TfU8tee8 hava 91% due con81deratlon to general guldance published by ts Charlty cMiSSIon to public benefi( Including the guidanc• 'Publlc benefiL' runnlng ctwity (PB2)'. Achlovem•nts and p•rfomMn • Maln a¢hlov•m•nts of th• Charlty The Chority has provthl funds for the maSntenance and pneral rnnning of LMr Basic School and Ihe Nur8ery in Jaiiari, North Bank Region, Gambi& In addition to maintainlng the school and nursery the Charity has buTri a trainry centre wth acc¢mmodatlon adjacent to the school called Morgan Kunda Training Cth. The centre provldes tralnlng for youths and adulis In TOurIn. Mldwlfery. Talk>rfng, and Agriculture. The centre18 run by Morgan Kunda Ltd. a registered Gamibian company. All the staff at Morgan Kunda Training Centre arKI the Nursery are employ ty Morgan KKIa Ltd. Page 2
IAORGAN CLARK FOUNDATION (A company Ilmttod by guar4nts•) TRUSTEES. REPORT (CONTINUED> FOR THE YEAR ENDED 31 AUGUST 2024 Flnanclal rnvl • Golng conurn Aftor maklng approwiate enquiri. the Truthes a reasonabb expectstion that the Charfty h88 adequate re50urce8 to conlinue in operational eXnCe for the fore8eeabl6 future. For this reason, they continue to adopt tho golng concern ba818 in prepaty th• financkl Bt8tthnts. • Raervas pollcy The full detallad fbure8 for the flnanchl acMi88 In the y8w are sIKP In tho accounts. The Charty8 net Income for the year IS £10,868 (2tr23: rnt aXPon8e £8,780). The Chardy has unrntrthd fund• carrd foThvard of £70,561 (2023: £59,683). 8tructUrn• gov•rnanc• and manag•m•nt • Congtftutlon organ Clark FourKlatlon 18 regl8tered a charltth company Ilm11 by guarantso and was 88t up by a Constllutlon. • Mothod8 of appolntm•nt or 81oCtlon ol Tru•te The method8, polkle8 and proc•aureJ for recruitrnwrt apther, iTr3uctlon and training of Trustees are In accordance wlht the con8titullon. Th• dlrectOT8 may at any IlTh appolnt ary Indivldual 18 ellglble a8 a dlrector to fil] a vacancy a8 an additlonal Trust M•mborn' Ilablllty Tha Members of the Charity guarantaa to contrknute an tdn(yJnt n(* excaedlng £1 to the as8ets of the Charfty In the event ol winding up. Small company provlslon8 This report has been prepared wi accordance wtth the special provBion8 relating to companies subject to the 8mall companies regime within Part 15 of Companle8 Act 2006.
OROAM CLARK FOUNDATION (A Mmpany Ilmltsd by guarants•) TRU3TEES' REPORT IcoiillNUED) FOR THE YEAR ENDED 31 AUGUST 2024 Th8 Trustse8 (who are al80 Ih? threrknrs of the Charty for the pUrpS of o)mpany law) are re8ponsille for preparlng tha Tnleas. report the financlal statement8 in acrnrdance wilh appll¢8blo ITh and Untted lfjngdom Accounllng Slandards (Uniled Klngdom Generafy Accepted A¢un11ng Practlce). Company law requlre8 the TrusleeB lo prep8re fin8nd81 ststements for each finandal . Under Company law. the Tntstses mu8t not opprove the fmnclal slaternents unless they are salisfied that they glve a Irue and falr v18w of th8 stst8 of affth of the Charfty and of Its Incomlng resourrm arKI 8ppltcallon of resour. Includthg Its Inc4)me and expendllurè. forthat P8Tlod. In prep8th th888 Ilnancial stalemerts, the TNstses arg requtred to: selecl sultable aca>untlng poltdes and apply them conststenty, obsem the methtxls and prfn¢iths ofthe Charities SORP {FRS 102): make ludgmenls and accounllng esymates that are rea80ftable arKI pwdent. State whether appUr4bh UK A¢o)uMing Standarth (FRS 102) have bgon folhThpd. subJe(alo arty materfal departures dlsclosed and explalned In Ihe frnfial slatgment8: prepare the tlnandd statements on the golng ¢Mcan unles8 il Is Inapwoptiate to pre6ume thal the ChaTIty wll contlnue In buslne85. The Trusteas are re$ponslbl? for keeplng adequate a)UntIng records that are guffldent to SIMM and explatn the Charfvs tran¥adEong and di¥clw wlth reasonabl? acpJTrGy * any Ilme thg thania81 posluon ot the Charrty and enable them to enBure that the Ilnanclal stalements corn wllh the Companles A(* 2008. They are al80 responsibl8 for 8afeguardlng the a88ets of the Charity and han for lakng reasonabla staps for thg prevenllon AppToved by orfer the memb8rs ofthe board ofTni8t898 and tholr behalf by. Mr8GMorgan G Trustee Mr P N IAoryan Trusteè Dalo: 2f.<.ztsZ Page 4
MORGAN CLARK FOUNDATION (A company limited by guarnnts•> INDEPENDENT EXAMINEifs REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Indopondont examlnerfs report to the Trustees of Moryan Clark Foundatlon (Yhe Charlty.) I report to the charlty Trusteas on my examlnatlon of the xcounts of tha Charty for tha yaar ended 31 August 2024. Responsibilities and basis of rnport As the Trustees of the Charty (and ts directors for the purposes of company law) you are responsfDle for the preparation of the accounts in accordance ¥Mth the requirements of the Companies Act 2006 (Iha 2006 AcV}. Having satisfied myself that the accounts of the Charty are not required to be audited under Part 16 of the 2006 Act and are eligible for indapendant 6MInatIOn, I report In raspect of my axamination of the Charitys accounts carried out under section 145 of the Charities Act 2011 cthe 2011 Art). In CaIng out my examinalion I have followed the Directions given by Charity Commission under $8Ction 145(5){b) of the 2011 ACL Independent examlnerfs statement I have completed my examination. I confirm that no matters have come lo my attention in connection with the axamination giving me cause to b81ieve: accounting rordS were not kept in respect of the Charity as required by 8eclion 386 of tho 2006 Act; or the accounts do nol accord with those records. or tho accounts do not comply with tha accounting requiramants of section 398 of the 2006 Act other than any requir8ment that Iha accounts give a Irue and fairf vlew whtch 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 th8 Statement of Recommended Practice for accounting and reporting by charities [applicable to charitie5 preparing their accounts in accordance wtlh tha Financial Raporting Stan(krd applicable in Ihe UK and Republic of Ireland (FRS 102)]. I have no concerr* and have come across no other rnatters in conneclion with the examination to which attention should be drawn in this report in order to enable a proper understanding of tha accounts to be reached. Thls report Is made solely to the Charitys Trustees, as a body, in accordance ¥Mth Part 4 of tho Charities (Accounts and Reports) Regulations 2008. My WOTk has bean undartakan so that I might state to the Chartys Trustees those matters l am required to state lo them in an IrKlepend8nt examinerfs report and for no other purpose. To the fullest extent permitted by law. I do not accept or assume responsibility to anyone other than th8 Charity and the Chartils Trustses as a body, for my work or for thig report. Signed: Stephen South FCA Shaw Glbbs (Audlt) Umlted Wey Court West Union Road Famharn Surrey GU9 7PT 29.05.25 Page S
MORGAN CLARK FOUNDATION (A company Ilmfted by guarantse) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024 Unrestrlctod funds 2024 Total funds 2024 Total 2023 Income from: Donations and legacies Other trading activibes 38.676 13.080 38.676 13.080 24,096 11,496 Total InGome 61.7S6 51,756 35,592 Expendltur• on: Raising funds Charitable activities 15,814 25.074 15.814 25,074 25,246 19, 126 Totsl oxpendtturo 40,888 40.888 44,372 Not movement In funds 10.868 10.868 (8,780) ReGonclllatlon of funds: Total funds broht fowrd Nat movamant in funds 59,683 10,868 68,463 (8,780) 10A68 Total funds cavried forward 70A51 70,651 59,683 The Statement of financial activities includes all gains and bsseg recognised in the year. Tha notes on pages 9 to 20 form part of these financlal statements. Page 6
IIORGAN CLARK FOUNDATION (A company fimlted by guarantee) REGISTERED NUMBEK. 07334198 AS AT 31 AUGUST 2024 2024 Noto Tangible a8sds 11 70.137 57. 775 70.137 57, 775 Current a88ets Cash at bank and in hand 1.014 1.014 Creditors: amounts falfjng due wiltmn o 12 (3,600) 414 Total assets le88 current IlablNlles 70.551 59.683 Not ag80ts excluding panslon asset 70.551 59,683 Total net assets 70.551 59,683 Charfty fundg Re81ricled fund8 Unr88trthd funds 13 13 70.551 59,683 Totsl funds 70.551 59,683
hlORGAII CLPJiK FOUNDATIOII (A Company Ilmltsd by guarnnts•) REGISTERED IIUMBEIL. 07334198 BALANCE SH (COIfflNUED A8 AT 31 AUGUST 2024 The Ch8rftywa$ entillad lo exempkn from 8utht unts 6ecllon 477 oflthe Companies Ad 2008. The membern have not requlred th? company b) obtaln an audft for the >w In quo8kn In acMrkn wlth secdon 476 of Comporth Ac 2008. The Trustees ackntxledge thetr mponslI10$ for Com19 wlth the requlr8menls of the Act whh SpeCI to The financlal statements I9 be PTepared In ac(xxdm wllh tho wovworffj appl1 to wrt(Ile8 subieL to Ihe sm811 ¢ompanles reglme. The flnarKaal 8tatemard8 were apprOd aml aulhothd lor Iw bythe Tnth and *n8d an their behayty. Mrn G mOn TnJ6tee rPNMoryan fu rfvf The notes on pages 9 to 20 fomi p8rt of these thandal glatemenis. Page 8
MORGAN CLARK FOUNDATION (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 General Infomiatlon The Charty Is a private company, limited by guarantee and registered In England and Wales. The regl818red office addr88$1$ Unit 18 Old Park Fami, Ford End, Chelm8sford, CM3 1 LN. AGcountlng poll¢l 11 Ba•1• of prnparnllon of flnanclal statemont• The financial 8tatement8 have been prepared in acMrdan¢e wtth the Chathles SORP (FRS 102) - Accounting and Reportlng by Charities: Statement of Recommended Practic& applicable to charft588 preparlng Ihelr accounts In accordanc& with tha Financial Reporting Standard applicable In the UK end Republic of Ireland (FRS 102) (effectlve 1 January 2019), the Flnanclal Reporting StarKlard appllcable In the UK and Republlc of Ireland (FRS 102) and the CompanEe8 Act 2008. Morgan Clark Foundatlon meets th8 d6finltSon of a publk benefft entity under FRS 102. A8$ets and Ilabllltlas ar• Inltlally recogn18ed at h18torEcal c08t or tran8actton value unle88 OtheThY188 8tated In tho relevant x¢ountlng poltcy. 22 Golng concorn There are no materfal uncortalntl•8 about the Charftys abllity to conlinue. 2a Incom• All Income h recogn188d once tho Charlty ha8 8ntltt8ment to tho Incom8, it 18 probabl8 that the Incoma wlll bo recelved and the amount of Income receivable can be measurnd rallably. Income tax recoverabla In relatlon to donatlons rec8lv8d undor Glft Ald or deeds of covenant ll recognlsed al the tlme of the donatlon. 2A Expendtturn Expenditure 18 recogni8ed once there18 a legal or con8tructive obligation to tran8fer economlc benellt to a third party, It18 probable that a transfer of economlc benefft8 will be requir•d in 8ettlernent and the amount of the obllgatlon can be measured rellabty. Expendtture Is classlfied by activty. The costs of each activity are made up of the total of direct C08ts, including support costs involved in undertaking each activlty. Dlrect Costs are allccated dlrectly to that activ6ty. Support costs which are not attr(butable to a single actimty are apportionad between those ad1VeS on a basls conslstent wllh tho use of re80urces. Expenditure on raising funds includes all expenditure incurred by the Charity to ralse funds for Its charitabla purpo8e8 and Includ88 costs of all fvndrai8ing a¢tivitses events and norKharitable tradlng. Expendlture on ch8rltable actlvitles 18 incurred on directly undertaking the activities whlch further the Ch8rW8 objecdves, as well as any a880clated 8UPPOrt costs. All expgnditure 18 inclusive of irrecoverable VAT. Page 9
IORGAN CLARK FOUNDATION (A company Ilmited by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng polkies IrtInued) 15 Tanglble foxed assets and dePrln Tangible fixed assets ara inibally recognised at cost Ats recognition. under the cost model, tangible fixed assets are measured at c¢)St less xcumulated d¥Jraciation and any accumulated impainnent losses. All costs irKurred to brtng a tangible f1 asset into its interKled working condition shoukl ba included in the measuremert d cosL At each rwttng the Charity a&8e&w there is any indication of impairment. If such indication exists. the recoverable amourtt of the asset is detennined to be the higher of ts fair value less costs to sell and rts value in use. An impairnwnt bss 18 recogniged ere the carrytng amount Depreoation is charpj so as to alocate cost of tangible f1 assets less their residual value Depreciation * provKled on the folkxviNJ basts: Freehold property Plant and machlnery /0 strabht Ihe 25% strauht line 16 Cash at bank and In hand Cash at bank and in hand indudes cash and short4wm highly liquid investments with a slK>rt maturty of three Mon or less from the date of acquisit or opaning of tho deposit or similar accour 17 UablNtlas and provtsions LiabltIeS are recogntsed when there is an obligation at the BalarKe sheet date as a result of a past event. it is probable 1frt a transfer of ecorMiC benefit will be required in slleM0nt, arKI the amount of the 8ettIernrt can be estimated reliably. LiabiTrties are r8¢ognised at the amount that lfrh8 Charity anticipatas ft wll pay to settle the debt or the amount it has receivaa as thanced ptfflients for goods 01 Servi it must provide. 18 Flnanclal Instrumts The Charity onty has financial assets and f*bMies of a kind that qualfy as basic financial instruments. Basic financial instrumerts are inibally recognised at transaction value and subsequentty measured at their settlent value with the exception of bank IcAns which ara subsequ 19 Fund accounllng General funds are unrestrktsd funds aro avalabla for w at tha discr6llon of tha TNst889 In furtherance of the general obJ#tives of the Charity aKI Y4hich have not been designated for other purp08e8. Page 10
AIORGAN CLARK FOUNDATION (A G(vnpary Ilmltod by guarnntse) NOTES TO THE FIPIANCIAL STATEhlENTS FOR THE YEAR ENDED 31 AUGUST 2024 Incomo from donafjon8 and lagaclo• Unrestrlctsd funds 2024 Total fund8 2024 Donatlons 38.676 38.676 uM1Cled Tot81 fund8 2023 2023 Donakns 24,096 24.096 Incom• from other tradlng actlvlllo Incom• from non charftablo tradlng actlvlll88 Unr88trlctod fun 2024 Total fvnd• 2024 Morgan Kunda lodge Income ChaTity SIP income 12,398 12.398 13,080 13.080 Total funds 2023 2023 Morgan Kunda lodge income Charity Shop inco 10,893 10.893 11,496 11,496 Page 11
MORGAN CL FOUNDATION IA conyany 11m1t by guarantse NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Expendlturn on rnwing fvnds Costs of rntslng voluntary Income Total funds 2024 funds 2024 FundraisirvJ ccffjts Advertlstry and prorrthn 3,224 Total fvnds 2023 funds 2023 Fundraising Msts Advertising arKI proTTK>ti 1,090 1.090 Othertradlng expenses Total funds 2024 funds 2024 12,590 12,590 P¥12
MORGAN CLARK FOUNDATION (A company Ilmlted by guarnntee) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 AUGUST 2024 Expondlturo on rntslng fund• Icontlnued) Othor tradlng Pens (contlnued Total funds 2023 funds 2023 Morgan Kunda lodge expen888 24, 156 24, 156 Page 13
MORGAN CLARK FOUNDATION (A company Ilmlted by guarantee NOTES TO THE FINANCIAL STATEMEMrs FOR THE YEAR ENDED 31 AUGUST 2024 Analy919 of expendltsr• on ¢harltable activities Summary by fund type Unyestrtcted funds 2024 Total 2024 Jariart School 25,074 25,074 Unrests7Ct8d funds 2023 Total 2023 Jarjarl School 19,126 19, 126 Summary by expendlture type D•prnGlatlon Other costs 2024 2024 Total 2024 Jariarf School 1.399 23,675 25,074 DeprBciation Ouwcosts 2023 2023 Total 2023 Jaiiari School 1,399 17,727 19, 126 Page 14
PAORGAN CLARK FOUNDATION (A company lknlted by guarnntee) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 AUGUST 2024 An•tysl8 of oxpondliurn ty actlvltl Actlvltle• undortakon dlrectly 2024 Support costs Total fundg 2024 J8Tiari School 5,327 19,747 26,074 undertaken Support directy 2023 Total 2023 2023 Jariarl School 15,567 19, 126 Anaty•l• of dlroct co•1• Jart School 2024 Total funds 2024 Sal8ri88 utilitie8 School 8upplle8 and uniforms 3,827 673 827 3.827 673 827 5,327 5.327 Jali7 Soho 2023 Total funds 2023 Salaries utiltlies School 8upplies and unifomis 2,520 745 2520 T45 3,559 15
MORGAN CLARK FOUNDATION (A company limitad ty guarnntse) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 AUGUST 2024 Ana15 of expendlture by acliviti•s (contlnued) Anatysls of dlrect costs (contlnued) Analysls of support Cogts Jarjarl School 2024 Total funds 20 Depreciation Trustaes I volunteers travel Car hire Travel and sub8*tence Emergency supplios food Sundry expenses Staff weffare I medical Costs Cleanlng Vehicle repalrs and servlcirvJ Accountancy Consultancy Bank chargas IT costs School and univer8ty fees 1,399 5,537 587 1.763 1,399 5,537 687 1.763 1,726 19 1.905 (1,800) 4,903 15 432 1,951 1,726 19 1.905 (1,800) 4,903 15 432 1,951 19,747 19,747 Page 16
MORGAN CLARK FOUNDATION (A compary MIted by guarnntse) NOTES TO THE FINANCIAL STATEMEMrs FOR THE YEAR ENDED 31 AUGUST 2024 Analy818 of expendlture by •thltle¥ Iconllnued) Analy818 of support lts (contlnu8d) J8d8rt Tot81 fvnds 2023 2023 Oepreclatlon Seafreight C08t8 Trustees I volunteers trMI Car hlr• Vlllage event8 Travel and 8ub8i8tenco Emergency 8upplle8 food Emergency supplle8 nolOod Sundry experwj Slaff I medkal costs Clofinlng Vehkle repalr8 and 86Nlclng 1,399 335 3,613 31 107 335 3.613 31 107 552 1,230 173 1,230 173 453 (900) 5, 164 301 479 (9) 5.164 301 479 Con8uttancy Bank charges IT costs 15,567 15,567 Ind•pond•nt rnIn¢ rnmun•ratlon 2024 2023 Fee8 payable to the CharW8 Independent examfr for tha indopendent examination of the Charity$ annual accounts 2,400 During th8 th• Charity O empltyee8 (2022: 0). Durlr@ tha yéar. no Tru8tae8 recrnl any remunerthn or other benefits (2023. £NILJ. Page 17
rAIORGAN CLARK FOUNDATION (A company Ilmlted by guarants•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 10. Tru8te88' remuneratlon and expenses (contlnued) During >Ear ended 31 August 2024. travel and accl)n expen8e8 lotr9 £J,826 were relmbursed or paid directy lo 2 Trustees (2023- £NIL). 11. Tanglble fix¢d ass Fra•hold Plant and property nMGhlnery Totsl Cost or valuation At 1 September 2023 Addition8 66.748 13,761 10,683 76,431 13,761 At 31 Augu812024 79.509 10.683 90.192 Dopreclatlon At 1 September 2023 Charge for year 7.973 1A99 10.683 18,656 At 31 August 2024 9A72 10.683 Net book value At 31 August 2024 70.137 70.137 At 31 August 2023 57, 775 57. 775 11 Crnditor8: Amounts falllng due wlthln one year 2024 2023 Trade creditors 600 2,400 600 Page 18
PAORGAN CLARK FOUNDATION (A ¢ompany Ilmited by guarantse) NOTES TO THE FINANCIAL sTATEmErs FOR THE YEAR ENDED 31 AUGUST 2024 13. Statement of fun(ts Statament of funds - current year Balance at 1 September 2023 Balance at 31 August 2024 Income Expendltur• UnrostrIc funds General fund3 69,683 61,766 (40.888) 70,661 Statement of funds . prlor year Balance at I S8pt8mb8r 2022 Balance at 31 August 2023 Income Expenditure Unrestrkted funds General funds 64463 35,592 (44.372) 59,683 1& Analysls of not a880ts botween fund8 Anatysis of net assets between fund8 • current period Unrnstrlcted fund¥ 202A Total fun(ts 2024 Tangible fixed assets Currenl assets Creditors due within one year 70.137 1.014 (600) 70.137 1.014 (600) Totsl 70.551 70,551 Page 19
MORGAN CLAI0( FOUNDATION IA compww Ilmltod by guaranto0 NOTES TO THE FINANCIAL STATEIIIEKrs FOR THE YEAR ENDED 31 AUGUST 2024 Analys1* of not ass•ts bthTren fun(ts (contlnued) Anatysis of net amets b•iv•o•n fund8. prfor perlod Unrnstricted funds 2023 2023 Tangl6 fixed a88et8 57, 775 57, 775 Credltorn due vAlhln one year (3,6CKI) (3,600) Total 16. Momborn. Ilablllty Each member of the charltth company undertak88 to contrlbuta to the 888at8 of the company In tho event ol It balng wound up 11@ he18he 18 a member, or wlthln one y•ar after helshe ce88e8 to be member, 8u¢h amount as may be required. not ex¢eedlrvJ £1 for the debts and lknbilitles contracw before helshe ceases to be a member. 16. Relat•d party tran•acllon• The Trustees G Morgan and P N Morgan ar• al¥0 sharelderS of M(Ygan Clark Umlled. Durfng the year Morgan ClaTk Limited donated £29,000 (2023: £12.758) to the Charity. Page 20