REGISTERED COMPANY NUMBER: or10ss19 (England and Walos) REGISTERED CHARITY NUMBER: 1145649 REPORT OF THE TRUSTEES AND UPIAUDITED FWANCIAL STATEMENTS FOR THE YEAR EMDED 31 OCT08ER 2023 FOR IMSOLE COURT TRUST. YMDDIREDOLAETH CWRT SOLE lllllllllllllllllwllllll JD7¢>IVKB 712Wk4 CWPANIES HfJlSE A11 MHA Ilrathng name of Maclntyr• Hudson LLPI Limited liablty partnership in EnrKI & W$ R&JLStereLI number CC312313 Elfed House Oak Tree Court Cardiff Gate Business Pawk CARDIFF CF23 8RS
INSOLE COURT TRUST- YMODIREDOLAETH CWRT INSOLE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 Report ofthe Tw$ts¢s 1 to 5 Independent Examin•rfs R•port ststgm•nt of Financial Actsvit Balance Sheel 8 to 9 to thg Flnanclal Statements 10 to 20
INSOLE COURT TRUST. YIADDIREDOLAETH CIMiT INSOLÉ REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2023 Th? tryslees, th) a also d1ClOr$ of the tharity tr the WI[ of the cnIeS N£t 2fJJ6. present their rep(Nl wlh the finan81 sta¢emenls of Ihe "ty for Ihe year endeil 31 (ktobw 2023. The trustees have adopted the provigons of A¢counb"n9 and RtportiThJ by Charilies". Ststement of Recommtnded PrtCti appl¢cable to d)aritses pparing their aco)ursls in atcordane8 Ihe Finanoal Rer Standawd akWiLxble in thè UK aThJ Repuuic of Ireland IFRS 1021 leffectivè 1 January 20191. AIMS AND OBJECTIVES The Charity's obRcts as slatsd in Arbdes of Assooation a. to preseThe and pfotsct Ihe builthngs know as knstye C1, induding ts restoration of the interior and gardens for Publ bènèfft., to adva¢ the edUca1)n ofthe putdtc Ihe history and of Insole CcMJrt Gardens,. and to fvrther or benefit the Sidents of the conwnurwty. withoul disb"1# of sex, sexual rKbentabon, race or of polfacal. relNJious of other opiniors ty assouatiThJ tO9ether ts saJ resthnis and the Ilxal aulhorities. volunlary and other organisations in a efftyl to adva educatti)n, arts and ¢wItu. and prowde facilitss Tn Ihe interests of stoal Welfa kn rea"On "me occvpatM wth the objective of improwng the Conditn$ of life for the resNJents and in paitular establtsh or seojre the estsblishment of a community facilty and maint or mawe or co-t¥Jernte Mlh any othtt authmty or organisatthi Ihe maintena)c• aThl MITnt ofgjch a centre. Publlc benefit The tNstees can c¢yffjffn Ihat they Nqve p)rnled th the duty in secti 17 of the Charitw Act 2011 lo have due regard to public benefit gUIdae by ts CAThSS•)n. Swfvant acbvibes that undertook during the Fericxl Ihat demonstraie public berwfit are $8t bekn¥. ACHIEVEMEMTS AND PERFORMANCE Charitabl a¢tivities 2023124 was very muth a year of wJ at In5d8 Crt TArylh véry mawket coTrJilJns and legacy issue5 leading to a pr FwfmgrKe financiaty. Hcrrnier. thi5 masks nd8nts1 char#J8s that have shown a very entouraging lUrnand is psIbLe bom r•Jl in a large Incre in tumo¥8r ar activity On Ihe te. Some of the ¢haTrJes which took pig¢e We unF4anned and presented large challervJes. olher5 We impl¢rngnted to •Jdress Lssues which had faced Ir6ole Court in 2022123 and prevaited in 202Wd024. The trtjdget set for 2023r2024 frjrtcast a $mal h)ss of £2.868 bjt bt qUY became dear in the first few months that this would prove to be a challeThJ8 with losses artmjnd £64.oc by thè end of Fetary aftef onty 4 months. The winter monlhs had historicalty alay$ provet1 a thaHenge. tyJt risfftg costs, 5FwJit)g thJe to the cOst•o141j and staff and trustee changes all lwrked togelher lo s¥ve Insole Cwrt a very steep ¢alknge for the year. The deThJes indtyjed the knner direetor lèavty Irts¢4¥ Court in Dwer 2022, ith a feplwnwt stsrfin9 a full time basis unbl May 2023. Thi¥ lod to cther $8nTh stsff memb•s having to 5hrft focus from inwrne ggnerating activities and Ihe 9rvth plan vJentrfd tnjsiee retKMts in favouroferwriThJ the day to day runnirg ofthe sile. Trust¢9 Neil Richardson was brought in as interim CEO lo help tjwing Ihis twi)e, t( a fvl-tirne empbyee was nee¢Jed to set the chaiity on a new path. We Ihank Laurw£ Robkn. the pre¥iws tr•agJrer "r&I in July after 11 years of se. The rec4Uitment ofa placement rb)t easy. t¥Jt a new treagAerwas fwmety apFointed in September 2023. Insde Courts main area of predicted grcrth for 2W24 centred on the F¢ and 8erage IF&BI offering by scalino up ¢olering s¢r¥i¢es lo wvjen the inc¢yne base beyoTrJ Ihe Seas81 Poth"ng Shed f0 in¢oTh. This suffered a setback with the departu of catering manager in June 2023. her rrfrfament tin9 appointed from extstsng staff in the same mc#)Ih. Th"s, akw&dè Ihè gap bn leadership mèant tr1 Insolè Crt tsibad to cawtalisè C thè sèasonalty strong monlhs and Ihe •vents prL¥rarn wa5 not rknloFd fuly as intended in 202212023. With the chaThj lo both trusiees aThJ slaff in mind. ts rthilding of Insde Crwrfs team and approach began n the summer of 2023. A large deftit had been e by this ts.me aThJ ¢)nty ¢)n8 month had wlstered a profit (April) so Ihis urgenljy had to be •Jdresstd. Thè new CEO. LW Granvile TAthtd wilh exting mertrs ol slaff and Ihe Board of Tnjstses to work tcvwards KKfeasirg ¥bwty on Sit? with a prc3ram of evenls whKh tsrgeted lime5 oflhe year vthich has historir21ty teen tak and set dear largets and responsit)ilis for stsff so thal Ihere was rn0 managerial structure. It was recogThsed that In5o48 Crt had into a place vth8re greater gJv8marKe vrds required, which induded the recmitment of a new opefats'ons manager vA¥J t2kt over the day to day of the site trng up Ihe time of the CEO and tha Events team vtho h•J tecorne Shde.track8d from their departrnents. A formal slNcture indLtding roles and responsibil'e$ was created and perf8n¢e ewS and tarfv set for all members ol slaff and 4though in i earfy stages uThJerstanth"ng 8ThJ Ow[lShIP ol deparkneftts slThEd d&8r im5overnents.
INS£ COURT TRUST. YMDDIREDOLAETh CIIRT WS(LE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2023 rinance, fund raising, marketiTr3 and HFL In 202212023 iwo finarK8 professionals were added to strèngthen Ihe Boarf's ¥kill sel and oversvjht. It was Cr by the thse of Ihe finarKial year that Ihe troJd9et set for 202212023 wa5 overfy mbitious and the rw Finanoal Cthxmittee and CEO We keen to improve Ihe 8¢aJracy for 202312024 by setting Jdgel linked to the plannj events Calendar and sellin9 more rnatstic targeLs wlich were st1 challw)ging bul eliverable. The buL19et should irwire Ihe stsff lo excel against mulualty agreed tsrgets and tske ow)ership of the Ivturs prosperity ofthè site. The new catefing manager wesented 8 plan to the Boa in Au9USt contained hi% vision to increasing the F&B inwmè vthich i1ed an overhaul ofthe la rnenu, events gte. pop4JP extemal kntthen lakever5. alOr with a new menu for inth)use caterfng for smaNer Mddings and corporntè )rn hi. Due to historfc delivery ksues. Ihe ix)okings leam hall beC(e lIant on extem caterers so rt was undersity)d that the benefit ol taking more taterin9 in house wwld not be ls•d wth"l Later year and 2024. Thè main chaleThJe in 202212023 has been Iho wralling t051 of energy and f¢x)d u¥Jredi8nis a5 Britain grappled wrth inflaiion and the eost-of4iwng crigs. As part of a wew of Insde Courts costs and irorne streams, the trustees became aware that a very exp8n5ive forward4at8d trn8Y Ctract wlh Ihe gas of Ihe main house had been signèd. This wo put Insdg Court into a Fojslti'L, from October 2023. Ihat ieopardise the whole viabihty ol the organisation due to an increase of approx. £34,IXKlpa. Nwliations wlh the provtder aThJ broker along wilh consuknThJ solici10 tk valuatAe Stalf I0¢ee ejrceS and in¢wred in the of legal bls. Ths was $01¥ed just prior to the end of the finarKial yearwlh the CEO woliating a lower rate bits1 also putting in place measures to reduce our ergY usage by Chj¥¥] w Ihemostat arwj takw a m(xe effK38frt apwoach to our eneryy usage. Food costs We ancther challenge. whKh had to be athjressed. and wNk was ¢kJnB to irnprove Jr menu ol fcKJcl and ensu MO was ¢n to use Social media to womots our offeriru. Ckn knp of this, it vrds reaK5ed that direct catering Jsts We rising al a rnte that cod ntst be gJpwtsd by the sales and thp tNstees and Fumncial Comrnitteè vthed th th6 utering manager 10 make sure menus ¢¢>$t more effenty and F#M15 SE8s made m(%e consistent. Onè ofthe mafv S$$¢$ of Ihe year dS secJJriNJ larg• grants fram NaIion mern FurKI1£328,938} arm1 Cadw1£96.2501. AW with Cardiff Courtd aThJ In5c48 rt TrLtst matthed fvnding ihi5 iotals £497,OW for ¢ss•ntial repaits and upgrade5. CADW funds are IL eern repai onty and the Lottery lunds are to be used as a mix of intemal and ¢xtemal works, a parocular attention to ryeating a lual hj$e kiithen that can be used for Large xale caiering events, either staffed by Insole or njn by an extemal txxmpany where rent and oi cAynmtssion is charged to reduc8 the risk to Ihe Twst This funding also wll allow vs lo carry tsjt our 2022 aim of wdening base V4hilst hamng to match fijnd £30,(MXI rnther Ihan havir#J to ffind Ihe of the investment ourselves. This vrfil aU¢>w u5 lo safeguard the lutuffj of Inscle Ccwrt and r6furtiish intèmal areas bringing Ihem back to their former glory for tUre grat)n$ wthilst $ts ueating an Irth SIaM we have not had pre$[y. The viSn is Ihat the house kitchen could facilrtate education 0)Tr) Yhwkshcps vkniL8t akn us b) extend tyjr historical lo th• Vthrian kitthen area5 whKh are iJJrrentty off limits lo the putrA One ol th• major rnvenue S£e55 Sto$ VRS seuK¥¥J the reb)CatiL ofts R895try Olf to Inxle Court from City Hall on a temporary basis. Tlis wa5 agreed in August 2023 and they started pawng nI in Novembef 2023. This brought in largo guaranteed rentsl increase to Insde Cwrt ¥th¢h started at arwnd t10.600 per qvarter and was set to in¢rease Ihroughjut 2024. prowdes Ins0 Court ith several vahJat4e opportunrties. the abilty to offer upgrades to registy Offi weddin9S Wth room hi ar catering for recep11$. K a150 provhles more awarenes5 and fooifall on site the )tential for gfeater attendance of fure events. sh) arwj Lxfé purchase5. Atuwh tt¥5 rek)LXtion Wd5 scheduled ¢0 be ternporary it was hoped that was sutte5sM both parb85 that thk8 may bene a more pern1ant hcn¢ lar Ihe registry.
INSOLE COURT TRUST- YMDDIREDOLAETH CWRT INSOLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2023 One of the major inthatives put in ace by the new team was to iNyease aCtIty on srte. espectally during more Seasonal challengiThJ times, so an entS team was set up to suggest ideas for events throjghout the year induding Utiling successful events of the past and x1eas. This meant that, as we dosed Ihe year heading into the winter, Insole Court had a progfam ol events induditvj lecaures the history of the site, musical events and pop-up restaurants events held in the café after hours. We tried lo get a balance bets¥een events ¥thich benefrted the ccffnmunity in line our charitable obj'ectives indLKling. educaiw and the pSe1¥all of the heritage through acb'viti'es suth a5 tours of the lower. leclures on the history of Insole CTrJrt and provJirvJ a venue fw the annual spark Walk for St David's Hospi¢e. We also included everrts for 2024 tthtch celebrated the lunar New Year. which would bmg education of Chinese cultLtre. and morè talks on the history of Cardrfl. This was on top of regular 8ctivthS of garden and housè toufs. tours which focussed on the trees of In$ole Court arKI w¢korning peopk from far arKI WKle on te into the beautiful historic grounds of InSe Court. We also deCd that we woukl open IbJusÈ tsvei thè Christmas pèriod in 2023 as the previous year Ihe site had remained dosed leading to a Large loss in tknber 2022. h was hoped that this would again enrywrage people to enjoy the site akffig with inCaSe donations arml use of the café or rooms for Christmas events and gUlar adi¥ities. Insole Court wekome(l around 240.¢XJO lo the te and the aclual number of visitors would far ex¢eed th"$ induding ltrK just wng the grounds dKI not enterthe café or main hwse. Whilst we have very hard to balance the needs to be seff-5uffia.ent finlalty and rnainlain our tharitable 9bits the new members of Ihe Finanual Committee entth that we needed to look at our rental rates for all regular hires kng with our tenants as erErgy wices has Inased so muth. The team at Ins0 Court Iked al rental rates for tenants b•ssd on styft of Offi space and reweed ase o)ntracts to see where fail increases be applied. We also tighten credit controls to improve our cash flow te tenant payments. aga doing so in a lair and reasonable manner. We also made it a prirtY to review our pn"tsrwJ slrudurt for F&B ajong wrth our wedding offèring and tn.ed to ensure that the barriers were removed tetween referrafs betsveen events and catering team lo maximise Ihe eaming Qpportuni.es of room hire at Ins(4e. We finished the year with a sense of opknmism that we were tuming a comer that the winler months w¢)ukl be Very testmig in temis of cash flow. Fof this rèason. we scussed a payment plan IOT our fulure VAT bills and ulilising paymenl holiday or term extensth oplions for tyjr btyJnr b%k b)an to try and relieve scvre of the pressurt on a time ol ytraT which haJ aayS been chamenging. This would be eVd when Ihe kn.me arose taking into accounl a gTeateT fo(JJs on a¢¢urdte cashflow forecasting rather than lust averaged wofit and k+SS we were able to more cnnfidentty manage reserve$. W¢ wer¢ ronfident that rfwe implementsd Ihe plans to rerthiate. protecl and devebp Insde Court's offering we shoula bt in a ptssilK to dlivèr on the fflore realists¢ Sel. ACHIEVEMENT AND PERFORMANCE Invèstment perfowman¢e Insole Court Trading Company Limile(l tha15 wilh JI the cornmerci81 hires and ratwira, irK4lirg wedding5. vthich tske Fla at Insole CoLrt. For the year ended 31 Oclober 2023. InscAe Cwrt Trnthng Comwy Ltd made a def#?t of£S0,794. FINANCIAL REVIEW Flnancial position DuriThJ the year, Ihe charitS total irtc•ne was £417.520 I22.. £359.317) of whid) È9.336 12022.. t32.869} hos been spent on fixed assets. The tharity reported a defiryt of £94.856 after acc(JntsrrfJ for depreLia1 dryes of £45,437. therefore there was defiut before depretyaiion of £49.419 (2022_' deffiot of £71.9261. Insol¢ C¢)urt TTrding Crynpany Lld. a vtholty (Mned subshliary. made a loss of£1,794 dwirrfJ the period. The deficit for Ihe group forthè yèar to 31 O¢tober 2023 was t145.65012022.. £131.6961. Res•r4•s polley At 31 October 2023 the tharty hekl totsl reserves of £1,201,313. Of thi$. £22.164 are restrKte(l fiJnds. £1,111,291 has been designated in a fund 8quNal8nt to the net tJok valuè of fed assets aTrJ £2 repre$enls investments, leaving £67.856 as the free reserves of the charity. The trustees a aware of the iMportae of hokjing res¢N¢$ aNhoLvJh th& tsrget sel in 2022 of inveasing reseNe$ to £150,( Pfoved to be unoblainaL4e as Ihe charty laced numerous obst%lès vthith led to the depletion of reseThes. The focus switched to ensuring that Ihe charity stemmed the bsses and retumed to profit alorKJ wrth managing its. cashfl(M during the quiet wnter months. AAh(w9h rt $b"Il be Ihe goal to reach reserve5 of £150.CQO il is not wise to sèt targets that are nalist antl * pres¢nl il 1$ mtye realisli¢ to ¥im for a mrylest irveas¢ to arwnd £60,000 of reseeS by the end of October 2024. Page 3
INSOLE COURT TRUST.YMDDIREDOLAETH CYIRT WISOLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2023 STRUCTURE. GoVERNAE AND IAANAGEMENT Governing document The charily is a conN)any Iwmited by guarnntee. sned by its MwTryjUm aTha Arbcles ofA5s)8tW. The lialty of each mertw is liThited to £1. Recruitmènt and appointment of new trustee5 Th8 Board of Trust8es has a comrrtvisNe s1 m cty4wing finc? and fi4a1 plirwng. hèritsge int•rpfetats"on. 90vemarKe. legal. cornpony sec¥etsri4. aclmty pknnirvj. 8rth1tecr01, and bulding5. The Trust also has a core 01vUntary •fris(Ks to siwIeI the trustees. kr base. Organlsallonal Strud10 The Insole Court Trust Boaryl ha5 12 tr$ and wrets bi4nrnthty. The Board has a number of eommittees repjrting to it w2 Finance, Govemance. BUing$, Hentsge, Garden5, and CC¥nrnlty Fundraising Committee. Comrnrttees must have 8 minirnum ol Injstees as be[s, one of which v•ill act as Chair. The TnJ5t Board is respc¥)siblè for the ovwal strategy of the Charty, aTrJ lor wlornance evaluation and aS5urnr. A budget ihe year is pSented annually to Ihe Board at Iho start of the ffinancal year, and rf akwroved, gNv8s de18gated Fthver to staff Ihrough the Director, to spend wlhin the budget parameters. If necessary, the Finart CNnmrtiee, which has delegated Spending power5. rnay revise Ihe twdget duriThJ the year, and any reV1&or t be r¢pgrted to Ihe Boa1. Requests for exFenditure wtsNle the appry)ved Mj9et are made to the Finanr Commitlee. to approve or olherw5e. and such aclton must be pOrted to next Board ftethw. The Inse4e Tntst sel up a separaie ¢Jwn8d Trading Cornpanywhich ujwrenty has tjirectors. IndU10n and tralnlng of n•w trust••s The Trusl has used organised away days rKofeswnJ trainers Inducti and trw.nww of new tntstses, as weir as in house training. Thk% system of usng pleSSal Irdinars and ¢on5uIIAnts uJnb"rvJes to ba usèd to maintain In&stee's skills and to manage ents a5 the wqect prtsjresses. Each trustee shcrtdd have a t4)mprehenve kno18dg• of the foJlowirYJ." The rde oftnJstees, was wjtntffjd as tskirKJ ultrmate ar eoV£ctive fewrnsibilty tr ¢J1cling the affairs of the eharity, ensuriThJ it is sthnc well run. aTrd deliverir¥J the tharital)le WIC5 the benefit ofthe public for which it was set up. The dutY&s ol tsuslees suffrnansed a5 CUnplar with ts law, duty of wderKe. aTrJ (ty of ¢wg. Good Govemance and Leadethp PrincaF4es covering understandww of the rote ofthe tAtee, the le9al duties, the slgwaFdship of assets. saleWa1ro the ¢hariVs wrpose. overseeiThJ Ihe wryk oflhe tharity. aTrJ mana9ing nd suppjrtirrfj staft and volunteets. Tntstees wouk1 atso be requi to ertsure delNery oforyanwts.onal PLtrpose. to work effecb.yely both as inthvKJu4s and as a team. to exertise effecaive ¢trol. to behave vAth integrity, and to be open and accountatAe. The skills needed by a trustee co¥ering leadwship. stialegK plarring. finarx?al man&3ennt aTh1 pknnkng. kTh)vledge of Ihe legal frameth in the Charity operntes. managemenc and advctacy. Spec¢fi¢ thls relating to herilap arKI (x)mmunty devdopment. K•y rnanagernenl rernunerallon Pay and r8muneration of senior staff is at a Ve1 to atlracl and taIn $urtatAe iTrJividuals arkl is also govemed by market for$ as the Charitatrle A$ of Ihe Tnjst are entrety depeTrtsent 1oveTh16 taised Ihrough its bus1r xtivths. REFERENCE AND ADMINISTRATIVE DETAILS Regl$ter¢d Company number 07705519 (Enyaftd and Wales) Re9lstered Charlty nurnber 1145649 Registered office In5cAe Court Fairwater ro Cardiff County ofcardrfr CFS 2LN Page4
INSOLE COURT TRUST- YMIKIIREDOLAETH CWRT INSOLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2023 Trustees W M Clarke E M Davey L W Roblin IresJn•J 41712023} C OEiien J L Prior-morris V Mitchen N R Richardson LERe C E Thomas K Rohman M S Vasquez L Humphreys Kq A5hcToft larwnleLI 1919120231 J J Nithofson Ashcroft lappjinled 1W2023) Pr•$lthnt N Lloy&Edwa Key managfrment personnvl G Hill. Director until Decembèr 2022 L Glanvi18- Chief Ex¢cul1 Offw frryn Marth 2023 Independent Examlner MHA ltradiThJ name of Maclntye Huds( LLP} Lirnited liability parship in En9laThJ & Waes Regi$iered ntttnber OC312313 Eifed House Oak Tree Court Cardiff Gate Business Park . CARDIFF CF23 8RS Approved by order Board of Tru5tegs on.. .. arMI s3nFJ ils l)6half by.. J J Nichotsiin Ash¢roft- Trustee P3e 5
INDEPENDENT EXAMINER% REPORT TO THE TRUSTEES OF INSOLE COURT TRUST- YMDOIREDOLAETH CWRT INSOLE Indep•ndent •xamh)•rfs r•port to th• trust4 of Court Tnrnt - Ymddlredolaeth Cwrt Insole Ilh8 Company? I report to Ihe ehty trustees ¢)n my exarrinK)n dthè Oft C(npany for Ihe year eThYed 31 October 2023. ResponsIll¢l¢S afid basls of report As the charitys trustees of the Company land also its diredus for the purposes of cornpary lawl you are responsiÈ48 lor the pparatin ol Ihe &counts in aLrordarte with the requirements ofthe carleS Act 2006( X4)6 Acfl. Having satisfied myself that the accwnts of the cpanY trt not required to be audited under Part 16 of Ihe 20C6 Act and are dig•ble for iThled¢nI examinati. I retM)rt in FeLl of rny exarnination of ylr aceounts as caNied out under Section 145 ol the Charities Act 2011 fthe 2011 Acri. In caY)g out my examinatiC I have follow Ihe 01c.0n$ gNen by the Charity Commissicffi uThJer Secbcffi 145(S) Ibl of Ihe 2011 kL Ind•p•ndent •Mnlnerf$ statement Since your charitys gross irwme ¢eeded £250,1)Q) your exanwner rnu5t b8 a mernber ol a list8d bLy. I can confim) Ihat l am qualThled lo undertake the examinthn because l am a member of the ASSla{1 tsf Chartered Certified AnIan¢s, whith is or ofthe listsd bcJw. I have completed my examinabty). I Ihat no mrs h•e to my all In nnecti th Ihg exarnination gmng me Cause to belve: a¢Ct)untirnJ recorf5 were kept in respect of th8 Company as requwed by SectifJ1386 ofthe 2r Att. or Ihe acrounts do not those reo)rds.' the a¢¢wnts do Tr)t corryjly wilh the a0tir9 requw8rnents of Section 396 of th8 2(W)6 Act other than any requirement Ihat the acthJnts give a true aNI fair vw thich is nol a matter considered as part of an Independent examinabon.. ¢x Ihe accounts have not been weparnj wi wih ts methods aThJ prirot4es of the Statement of RecommeThJed PradicÈ for tJnThj and reB)rti by (thribes lawlrable lo ¢harib"es pparirfj their a¢xwnls in accordancè with the Finanoal RepNbrg StaTrJard apcae the UK and Republ ol lrtland IFRS 10211. I draw yow attentbjn lo th8 discbjsure made in note 2 to the fmarfial statements the d)antys th.lty lo eontinue as a going mnc£rn. The tharity is Sho net tsf £94.856 for year to 31 Octi)ber 2023. this has rsduc8d free reserves to £67.856 and as sh fijre delkit5 at thts level are not sustaiTrable. In addition, the whoNy owned trading SUbdiary has net liabiffilies of £65.071. The matters detsled in note 2. indic8ie Ihat some wtcertainty exists which may casl s¥Jnrftsnt doubt on the tharilys 3bihty lo tinue as a 9tyrvJ ¢orKem. We have. hover. o)nduded that the trustees, use olthe eLyxm basis of aoyJJnb"n9 in Ihe preparation ol the finaThial ststernents 15 appropriate. I have no olher ts)ntems and have ctyne acrw ro other mattets in tneeon V•ilh examination to vthch attenlkjn should be dravm in ttws report in order to enatAe a prorw Urjetsd1ng of the aCL)xnts to reaehed. Julkq Mortiw FCCA MHA ltrading narne of Maclntyre Hudson LLPI Limrted liability pathership in Ernd & Wales Regislafed numbsr OC312313 El House Oak Tree crt Cardiff Gate Business Park CARDIFF CF23 8RS
INSOLE COURT TRUST. YMDDIREOOLAETH CIYRT INSOLE STATEMENT OF FINANCIAL ACTMTIES (INCORPORATING AN INCOME AND EXPENDMJRE ACCOUPffj FOR THE YEAR ENDED 31 OCTOBER 2023 2023 Total funds 2022 Total funds Urnestrthl Restricted INCOME AND ENDolENT8 FROIA Donations and legacies 11. 47.997 29.194 ClItabl• acti¥iti•s Education and the arts Community welfare 3.635 72.943 3,635 72.943 2,869 68.496 Other tradin9 aclmt Investment in¢L Other ino)me 104.110 104,110 120,801 14.247 123710 188 835 Total 417.520 359,317 EXPENDITURE OM Raising ftmds 141,624 141,V24 112,275 Charltablo a¢¥111•5 PSeNatI of Insde Cwrt Educab"on antJ Ihe arts Community wellare 113,738 36,358 215,693 118,701 36,358 215,693 113.999 37.$62 212618 Total 7.413 4.963 512 376 NET INCOMEIIEXPENDifuRE) 1103.806} 8.9XI 194,8561 {117,1371 RECONCILIATION OF FUNDS Tolal fvnds brought forwar 1282.955 13,214 1.296,169 1,413,306 TOTAL FUNOS CARRIED FORWARD 1 179,149 1201 313 1296 169 The rth form part ofllwe fmarmyal slatem8nts Pag• 7
INSOLE COURT TRUST. YMDDIREI)OLAETrI CIIRT INSOLE BALANCE SHEET 31 OCTOBER 2023 2023 Tolal funds 2022 Tot fvnd$ funds FIXED ASSETS Tangible assets Inv8slments 16 17 1.111.291 1,111291 1.147.392 1.111293 1.111.293 1.147,394 CIJRRENT ASSETS Stocks Debtors Cash at bank 8N1 In hand 18 19 5,454 54,034 179.647 77,543 91,883 69.719 154.702 22.164 176,866 239,13S CREDITORS Amounts lan9 duè ore ye (13.4231 (73.4231 {69.0561 NET CURRENT ASSETS 81279 22.164 170.079 TOTAL ASSETS LESS CURRENT UA8ILmES 1.192 22.164 1,214.736 1,317,473 CREDITORS Arnunts fauing due after mcfe one 21 113.4231 113.4231 121,3041 . NET ASSETS 1.179,149 22.164 1,201,313 1.296.169 FUNDS Unrestricted fvnds Restncted funds 23 1,179,149 22.164 1,282.9SS 13.214 TOTAL FUNDS 1 201.313 1.296,169 Th8 cant9 company 15 w"lled to exernption frcffi wdii uNler 477 of the Car0e$ Act 20 for the year ended 31 Oraober 2023. The members have not required Ihe company to obtain an audrt of its ffir4n(ial Slakn for th• year ended 31 October 2023 in accOn with S8cl•Jn 476 ofthe Crynpani8s N£t 2006. The trustees acknovAeil9e th&r $s11$ ensuring that ¢haritabf• tompany k••ps aCcntI)g rn¢0$ thal ctynrty ith S8diowts 386 and 387 of lh8 Companies Act 20C6 and pr8paring finanaal slatemenfs whith gNe a and fair view of th8 stste of affair5 of ts caritsblg mPanY 8$ * the end of ¢ath fwnoal year and of its surF4u$ or defirit tr each finantial year in accLJrdance wth the requirneI$ of Secbons 394 and 395 and fv"ch otherwse compty requiMertts of the Compantes Act 2LIX lati to ffinartial statqrn. $0 laras apF4catle to Ihe chan"tsIMe crAnpany. Ib) The fonn pwl oflw finarKial slatorn Pagè 8 ¢ontinued...
INSOLE COURT TRUST- YMDDIREDOLAETh C%VRT INSOLE BALANCE SHEET- ¢ontinugd 31 OCTOBER 2023 Thèsè finanrial statements have been preFAred in acoJrdane• 7Ailh prtrlisbxts aWable to eharttsble companiès $ubigct to the Sm1 conwnies regime. The fi antsal statsments were approved by the Board of Tn wfvris•J for on li.-2..o.w.. and were Signed on rt5 ihalfby. J J Nicholson Ashcroft- Trustee Page 9
INSOLE COURT TRUST- YMDDIREDOLAETH CWRT INSOLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 STATUTORY INFORMATION Insole Court Trust is a Wi8tpJed charity aTha priate ctynpany finwied by guaranlee hawrg no Share capital. It is w)carpordt8d in Wales in ts UrNted lQIWn. Thè registered office is Insc4e FaiNater Road. Cardiff. CF5 2LN. The nature of the clwitabbt companys opèrdt)ns and actiwties are dtsdosed wlhin the Report of Ihg Trustees. The firtancial ststements we presented li Stwffing (£). the rtharitable c4)mparfs luncaMal currenry. aTrJ muThJ8d to the neaTest p)und. Tho $i1ficant acC.j poFA"es apP4 in lh8 pr8parntKffi of Ihesa fmancial stataments ¥e set out below. These have been consistenty aF1 to 4 T$ wesented unless ott$e stal8d. ACCOUNTING POLICIES 8asi$ of pweparfn9 th• fancIal st•t¢monts The fiftaneial ststements of Ihe charitsble company, vAwch is a puilt berth entity urxler FRS 102. have been prepared in accordancè ilh Ihe ChIlle5 SCrf<P {FRS 1021 Acctyjnting and Rewbng by Ctrk3rities." Statement of Retornnded Pfacbee ¥ts1¢ to charities Wepar¥ Iheir accounts in aceordw¢e with the Financial Repjrting Stsndar<l applKth8 in Ihe UK and Repltsl of Ireland IFRS 1021 leffective 1 January 20191., Financjal Repjrting Standard 102 The Financaal Rep9 Standard appIable in the UK and Reputlic ol Ireland. and the Companies Act 2C4J6. The ffinan(a ststernts have been wepad Under the his1rCal cost convention. v•ilh thè exception oflnv¢5tsnents a induded at martet we. There have be8n no matwl tlepathres I1 Fthncial ReFLJt"NJ Slandard 102. Golng ¢oncern The r85uts for th• y•ar a d?fKil of £9¢.856 12022 - £117,137), tIMs 15 after Ie0"aOn of £45,437. The trMJdg8t for Ihe year to 31 OLtob8r 2023 predKled 8 trading hJ55 0150rne £3K. However. as dkscussed in detail in Ihe Report of the Trustees. ii5irwJ o)sts. Icthver spending du8 lo the costd4ving crisis aftd staff and trustee changes 8N wryked together to pro¥e a cha1lervJij year for Insole CourL The bss of the Decert4)w 2022. ffanl thr senior staff nwibers t1rj to $hrfi fows frorn in¢¢me generab.on to day-tTrday operaticffis. CharJe in staff dealing wth Ihe fo(J and beverage offering rn¢ant that Insole Court tsied to captsfise the seasonally strony nK)nths antj the events prarn was not develop1 fulty as Intended 2022r2023. The new CEO. Lloyd Granvdle worked wih exi5tsTh3 rnernt5 of slaff and the Board of Trustees to Incsease acbvity on sit¢ set cartargets and 5Fb11tie5 for stsff 50 that Ihere wa5 rrfft managerial structum. It vtas dear by th8 dose of ts fncial yew tNql Ihe budw set tr 2022123 was overty aMboLL$ and lh8 nvw Financial Committee and CEO were keen to improve the ac¢wracy for 2023r24 by setting a budget Iked to the planned events caleThJar and settin9 real6tic lar9ets ¥¥hth were still thnging but d¢lNerabl¢. Aftgr adjusting for a¢lual resurts to end of April W24. the resurt for the wup to 31 Octoter 2024 is br&akeven Fosthn, a relum to SIbU5 in 2024125. Securing large grants frcffj National H¢ritage Meorial FurKI 1£328,938} aThJ Cadw {È96.250} safegua$ the fulure of Insole Court aTrJ allow5 for reftbIShrnent gf intemal areas Ihem bad( to their forner glory for future generatiS whdst th ¢atir9 a new incL•ne stream. In &Jditton. the relocth.on of the Res4$try office to Insole Court tr( Cty Hal provmjes add"on31 ir and severd dIable OPFJfvnrfiès. Wrth chan9es the Board has IAac. th• Trust is in ts tumwourKI Ihat wil se• Insde Court retum to stsbifity, and in its lorg temi sustsinalylity. WKI as Suth these ffinal statements have been prepared using the gcyng ¢wcem l)ast5. Incorne l incorne is recognised the Stalement of Fina1 Actsvibes once the chan.ty has entiuement kn ihe hjnds, it is probable Ihat the in¢cThe bè rc•ivod and Ihts arnrrt can b8 35TOd TBtsatly. Donation5 legacies incorne indth atiOnS. gits and 9rants th prowde core fvnding or arè of a general naluie and are recognwd where there is entthmenl. probability ol rept and amounl can be measured th SU•ent rella"lty. Sjch Irne is efily deferred wthen Ihe don SF¢offi it must be used in (uiure accounb.ng FericJs or the donor has imwsed o)ndi¢ws whK musl be before the thanty has unconditwJn81 P&38 10 continued...
INSOLE COURT TRUST. YMDDIREDOLAETH CTPIRT INSOLE
NOTES TO THE FINANCIAL STATEMENTS- Mntlnued
FOR THE YEAR ENDEO 31 O¢T08ER 2023
ACCOUNTING POLicies- ¢othinu¢d
In¢om•
Income from charitable aclrvibes includes In¥The led LR)dercontract or wthere enbtiement to grant funthng is
subject 10 Specific performance COndn5. This inctvne r8ct¥nised as the relate
INSOLE COURT TRUST. YMDDIREDOLAETH CWRT Tr4SOLE NOTES TO THE FINANCIAL STATEMENTS- ¢otitinu•d FOR THE YEAR ENDED 31 OCTOBER 2023 ACCOUNTING POLICIES- wrtknued Taxall¢)n The charty has financial assets and financial Sabdits of a kn.nd that rwalfy as basic financi81 instruments. Basic finartial trnefits are at Isac1]n value ar¥J swuenty measured al their ¥etUement vafue. Trade debtors aThJ other debtivs aro rwnk8ed al ts settk1 arrh)unt dug arJ wepaynwts • vahjèd at the amunt prepabj. Creditor5 are fecognised Yrtwe Ihe Charity has a present ottyliDn Yes11a from a past evenl that w411 Probabty resuk in the tra[er of ffiJThJs to a third paity and Ih8 arnwnt due to Settle the owtion can be measur•d Ix estimated reliably. Credttrys are rwised al their seIttnI amount after alln9 for any trad? ¢Jis¢ounts dug. Fund a¢counUng Unr•stri¢led I¢ts can be used in acc<xdm ith the ¢haritatle otryecbves at Ihè discrelw)n ol Ihe Iruste8s. Restrid8d furnls can be Partr restricted puwposes th8 otiects of the ch. R•strlCtK9 arise wh8n SFecffied by Ihe (hjncf or fvnds ar¢ rai58d for tiLr restried purp)ses. De&gnaied fvnds are unreslithd fd9 eamwrknd by the Intslees tr partith purposes. Further explanaith ofthe nature aThJ wwpose of ea fvrwj os inLJed in lh& notes ty tho firbxial stalement& P•nslon ¢osts and oth•r past•tIrement beneffts The charita0 cornpary OFerates a defined ¢triE[On pe[on 5ch8m8. Contribjtions pay&l• to the thariiabl8 CPanS Pens xknme are Char9 lo the Stslem8nt of Financ1 ALe8 in thg ri0 to tlw relate. DONATIONS AND LEGACIES 2023 2022 Donab"¢ Grft aid Grants SulwiplJn$ 37.292 6,825 3.500 19.182 ,2.457 7,105 450 29.194 Grants TKeived. Incl¢Aed In Ihe arè as 2023 2022 Carthff COU11 ACW Simon Gibson Charitable Trust Warrn Spaces at Ins0 Court 4.000. 3.105 2.0 3.5CKI P3e 12 continugd...
INSOLE COUPT TRUST- YIADDIREDOLAETH CWRT INSOLE NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 OCTOBER 2023 OTHER TRADING ACTivmES 2023 2022 Coffee shop lent Other nts1 irKome Gift shop sales 36.OQ) 59.789 25.012 77.184 26.926 104.110 120,801 IVESTMENf INCOME 2023 2022 Trading subsidklry dDnai 14.247 INCOME FROM CHARITABLE ACTMTIES 2023 2022 Entrance fees ond ttyjr ineom8 Educalion and th& wts Facilty hire fees Cornrnty weware Acts'vit$ and everts weKa 3.635 $3,190 19,753 2,869 52,626 15,870 76,578 71.365 OTHeR INCOMe 2023 2022 Othèr incomè Rèimbursement of eosts Manag¢rnenl fee 11,545 15.240 162.050 5.582 8.160 109,968 123710 RAISING FUNDS Ralslng donatlon$ #nd legacle# 2023 2022 Fundrwsing Oih•rtrading •¢tl¥ili•s 2023 2022 Pur¢hases Slaff costs Legal and Fwofesskn7al fees Shop operab.ng 8xwns Rate5 and water Light and heat Telephone and intemet Deprec4ation 12,578 70,454 29.903 713 657 17.013 2,333 14,969 72,449 1.1x16 594 15,019 2.019 4.013 137202 N49regate 141624 112.275 Pth3è13" conlinued...
INSOLE COURT TRUST- YMDDIREDOLAETH CWRT WSOLÉ NOTES TO THE FINANCIAL STATEMENTS- ¢ontiny FOR THE YEAR ENDED 31 OCT08ER 2023 CHARITABLE ACTMTIES com Supwt costs (see note 111 Costs Isee note 101 Totals servalion of Ir( Ccwrt Education and the arts Cornmunty wellare 89.333 20.061 147,342 29,368 16,297 68.351 118,701 36,358 215693 256,736 114.016 10. DIRECT COSTS OF CHARThABLE ACTlVtnES 2023 2022 Stsff Rates aTrJ water Irrar Llghl and heat Telephone Design and Computer and web site fee5 Miscdlaneous experws Cleaning and househc4d g>>Js Activilies and 8vents CAxts Prrjperty mainlenarKe and repa LjaI and professKMal fees Depfedation 83.912 1.840 1.375 47,636 6.532 637 1.617 3.479 11.409 9.177 45.267 4.062 86.176 1.663 1.287 42.053 5.653 1.880 654 3.871 11,842 11.229 42.146 39.168 256.736 247,622 11. SUPPORT COSTS Staff Totals PreSerVatic of Inso CcKJrt Educalion and Ihe arts Community welfare 21,871 13.122 52,484 5.987 2,116 11.633 850 663 2.651 29,388 16,297 68,351 396 87,471 4,164 114.016 12. 14ET INCOMEIIEXPENDITURE) Net IncomellexpeThJiturel ts ststed kn charyirWlcredibrbJl: 2023 2022 Oepreoalion- ry*med assels Independent examlnatth fee OperatiThJ leas8 payments 45,437 3,400 45.211 3.400 516 Page 14
INSOLE COURT TRUST. YMDDIREDOLAETh CWRT WSOLE NOTES TO THE FINANCIAL STATEMENTS- Mntinued FOR THE YEAR ENDED 31 OCTOBER 2023 13. TRUSTEES. REMUNERATION AND BENEFrrs There lStee$. Mneral or ots be for Ihe year ervjed 31 ¢)dotT 2023 or for th8 year ended 31 October 2022. Trustees. expenses Thtfe were no tDJsts8s' expenses paKI for Ihe y erxled 31 Cktober 2023 for ended 31 Octoter 2022. 14. STAFF COSTS 2023 2022 Wages and 5alarie5 Social secjjnty costs Other pensk costs 208,458 9,096 3,486 213,947 7.550 225.396 Total r8mun0ral pad to key rnanagnt Fw¥rywf in the yew was £31.81B12022.. £43.35S). The 9rage fflthty nunber of nee$ thJiir¥J th• yearvas as fdk)w&" 2023 15 2022 13 No empbyees r•ceNed emclurrwts in excess of £60.(J). Ptye 15 cAnb"nued...
INSOLE COURT TRUST- YMDfMREDOLAETH CWRT INSOLE NOTES TO THE NNANCIAL STATEMEKfs- continued FOR THE YEAR ENDED 31 OCTOBER 2023 15. COMPARATives FOR THE STATEMENT OF HNANCIAL ACTMnES uNestJKI Re5trictsd fvn(ts Totsl lunds INCOME AND eNOOWMEI4TS FROM 28.694 29.194 Charitabl• a¢tivitses Education and Ihe arts Cwmunity Te 2.869 68,496 68.4 Other trathn9 actNrftes Investment In)rre Other Irme 120.801 14.247 123.710 120.801 14.247 123710 Tot1 358.817 359.317 EXPENDITURE ON RaisiwJ Imjs 112.275 112275 Chaiitsbl• actyviti Preservat of In501¢ Cowl Educafr'on and Ihe arts CMUnty 1[are 113.499 37.$62 212618 soo 113.999 37.562 212,618 T4)tal 475.954 476.454 NEf INCOMEIIEXPEMDilliRE) (117.1371 1117.1371 RecoNCIUATION OF FUNDS Totsl furth brt fornèrd I.4.092 13,214 1,413,306 TOTAL FUNDS CARRIED FORWARD 1.282,955 13214 1296.169 1fA TANGIBLE FIXED AsseTS ¥iur•s and fiitirwJ$ Ccffiputer equvynI Totals COST At 1 No¥ernb8r 2tr22 AdOr 1213.845 162.055 31.420 4.748 1.407.320 9336 At 31 Od)bor 2023 1.213845 36,168 1.416.656 DEPRECIATION At l Novemb8r 2022 Charye for year 111,104 119.266 29.558 1.383 259,928 45.437 At 31 Ociober 2023 140.9 133.468 MET BOOK VALUE At 31 October 2023 1072.889 33.175 5.227 1111291 At 31 O¢tolJer2022 1 102 741 1 147 392 PJè 16 conlinued...
INSOLE COURTTRUST. YIIIDDIREI)OLAETH CWRT INSO NOTES TO THE FINANCIAL STATEMENTS- contlnu•d FOR THE YEAR ENOED 31 OCTOBER 2023 17. FIXED ASSEf INVESTMENTS Shares in group undertakings MARKET VALUE At 1 Nov¢rnbgr 2022 and 311)#ober 2023 NeT BOOK VALUE At 31 Octobèr 2023 At 31 OetL*ef 2022 The u>mpany's investnRrts at the bala sheet dale in the Sh cawlal ofcrffipanies indude the f01h)'ng.. In501e Court Tradlng Crynwny Ltd Fwistered offKe: Insole Coufl Faipwater Road, Llatsff. Carrfth CF5 2LN Nature of t#Jsiness.. R¢y)m hirn and event swvi Class olshare-. C¥dinary shares 11x1 2023 2022 Aggwate eapltsl and re5er¥gS Loss for Ihè yèar 165,0731 50,794 114.2771 18. STOCKS 2023 2022 Retsil stocks 5.454 19. DEBTORS: AMOUNTS FALUNG DUE IVITHIN ONE YEAR 2023 2022 Trnde ijebtors AnM)unts owed by groJp wwjerta crther debtors VAT Prepayrwls and accrued irwme 5.649 6,408 35.867 3.699 750 108 9.145 77,543 54.034 Page 17 conlinugd...
INSOLe COURTTRUST- YMDOIREDOLAETH CWRT INSOLE IIOTES TO THE FINANCIAL STATEMENTS - ¢onllnu•d FOR THE YEAR ENDED 31 OCTOBER 2023 20. CREDifoRs: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 Bank loo WKI overdrafts Iw note 221 Other loans (see note 221 Trade Clt0[$ Sockal security and other taxes 0th8r creditrrfs 7,861 7.861 7.748 21,294 18,108 6,642 18,668 22,124 17.594 14.539 69.056 Included ithin &uuals arKI deferr•J inDJm8 atthE is the Idh)w"ng defwred irKxwne.' 2023 2022 R8ntsl incom• and t1•posit ActIlieS and events ir 771 305 771 5.649 The ¢Jefer incxrfne rdates to irKw wi¥ed in advance of pffjieet c¥ sere delNery. All anKJunts brnight forward havè been released to the siatement ol fina[91 acts in the year. 21. CREDITORS: AM<)uKrs FALLING DUE AFfER IAORE THAN I)NE YEAR 2023 2022 Bank loans (see note 22) 13.423 21.304 LOANS An lY5 of the maturity of bans Is givtft b•kr. 2023 2022 Amounls due ithin or yew on demand: 8ank toans Crther loans 7,881 7.881 7.748 7,881 15.629 Amounts falirg belween Ivffj years: Bank loans- 1-2 yeafs AFnounts frdffiwvJ du• bets¥•en two aThJ 15.. Bank loans- 2-5 y•*s 5.338 13,219 Page 18 tinued...
INSOLE COURT TRUST- YMDDIREDOLAETh CWRT W4SOLE NOTES TO THE FINANCIAL STATEMENTS - wrtlnued FOR THE YEAR ENDED 31 OCTOBER 2023 23. IKIVEMENT IN FUls Tran$fer¥ At 1111122 fur¥ts 31110123 Unrestrl¢ted funds Genefal fund Fixed asset deswaled fund 135.563 1.147292 (103.PJ)61 36,101 36.101} 67.858 1 111 291 1.282.955 (103.8061 1,179,149 Restrid•d fvnds Garden and grounds fvnd Frien4Js ol Irksole Court lund Memorial garden lund 2,413 12,(KlOI 2,413 11.214 13214 TOTAL FUNDS 1.2%.169 94.856 1,201,313 Net movwnent in frJTh19. in th¢ above as fdlows: Inccmkng Reswr¢es Movement expended in luntjs Unre5frfcted funds Genernl tund 403.607 1507.4131 1103.8061 R*strlcled funds Garden and gr¢wnds fvnd Fri?nds of I[oIe Court fvnd Mem181 garden nd Wann Spaces a¢ Insde cIrt 2.413 2.413 I2,OCl 8.537 12,0001 11,4631 10.LI)O 1.500 13.913 4.963 TOTAL FUNDS 512,3761 Translers en fuThJs 1111121 lunts 31110122 Unreslrlcted lurtds General fvnd Fixed asset ¢Jesignatsd fwmj 240,358 1.159,734 1117.1371 12,342 12,3421 135,563 1.147.392 1,4(KJ.0¥2 1117.137} 1.282,955 Ro8trl¢t¢d funds Friends of Insde Cwrt fvnd 13,214 13,214 TOTAL FUNDS 1.413.& 117 1371 Page 19 ontinueil...
INSOLE COURT TRUST- YMODIREDOLAETH CWRT INSOLE NOTES TO THE FTNANCIAL STATEMEPITS- continued FOR THE YEAR ENDED 31 OCTOBER 2023 23. MOVEMENT IN FUNDS- Mnunued IrcThJ Resources Movement expended in funds Unr•strktsd fvnds Gènernl nd 358.817 {47S,9S41 1117.137) Reslrlcted lund$ Garden and grourKls fund {5> TOTAL FUNDS 476 4541 117 1371 Deslgnat•d funds Fed assel desi nated (und Restricted funds en and DuriThJ the year the thanty re¢eNed private of £2.413 (2022: £SLXII ts the $tOratiOn of the iris gardon. al arden fund During the year. tre charity roceived £10,CJJ lor to lh8 M8rntyial Gard8n. The expenditu during the year ielates to the Bwnel EwwJravry. Wam Insde Court Grant irtome of £1.500 w85 reCeN drg the year in rel81m k> the Warm Space5 inrbalive. This was strKted to th8 Cost of lrtrt. of¥thth spert irnmethatety. Transfers between funds A transfer crf £36.101 was m•Je from tr fw¥J to the frA asset deggnated fijnd in respert of fvrtr fixed assel adLlL$ ¢Jurry Ihe year.18ss Ihb ¢ar 24. RELATED PARTY DISCLOSURES Aggregate donatms of £93012022.. £1.0201 from lile•S in the 1ht fom of supporters patmn5 incom8. A restricted of£l0.000 vas Irom a tyuslee. Management fees of £162.05)12022." t109.9681 wwe receNed from Ihe charitys trading subsirfiary. Insole Cwrt Trading Conx)any LILI. Th• charty has also Trceived income and mad8 payrrnts on b8half of rfs tradiry subsidiary, and vieè ver5a. dLYing thè year. at 31 C¢iober 2023. a bdart* of £53.095 was due to the charfty from its trad $ub5bJiary. Paymgnts of £21,875 were rnade to Nwl Rhard SuM11vj Li. a ¢[nY thvned by a in r8SP8Ct olt>)nsultw s•rwic•s. Pw20