**Charity registration number 1146082**
**Company registration number 07841161 (England and Wales)**
## **LAUNCESTON FOODBANK LTD**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023**
## **LAUNCESTON FOODBANK LTD**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Helen Davies Tian Bersey **Charity number** 1146082 **Company number** 07841161 **Principal address** 13D Newport Industrial Estate Launceston Cornwall PL15 8EX **Independent examiner** Andrew Baker Victoria House St Catherines Hill Launceston Cornwall PL15 7EJ
## **LAUNCESTON FOODBANK LTD**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 14|
## **LAUNCESTON FOODBANK LTD**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
The trustees present their annual report and financial statements for the year ended 31 October 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 constitution, 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 charity's object is to relieve poverty. The policies adopted in furtherance of this object are to supply nonperishable food to people in need of emergency supplies in the Launceston and surrounding areas of Cornwall and there has been no change in these during the year.
## _Public benefit_
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
## _Significant activities and achievements against objectives_
Full details of the activities and achievements during the year are contained in the separate annual report.
## **Financial review**
The trustees are grateful for financial support received from many sources, as summarised in the attached accounts. The financial position at the end of the year is satisfactory, with the fundraising shop providing adequate funds for the main activity at present.
## _Reserves policy_
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
## _Major risks_
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
The charity is a company limited by guarantee.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Helen Davies
Tian Bersey
## _Recruitment and appointment of trustees_
The trustees are appointed by a management committee comprised of volunteers from the local community.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
## _Organisational structure_
The trustees delegate most day-to-day matters to part-time paid employees and volunteers, and meet bi-monthly with the wider management committee to agree policy matters and oversee the running of the charity.
- 1 -
## **LAUNCESTON FOODBANK LTD**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## _Relationship with related parties_
Launceston Foodbank is affiliated to the Trussell Trust but is independent in its own right.
The trustees' report was approved by the Board of Trustees.
.............................. Tian Bersey **Trustee**
Date: .............................................
- 2 -
## **LAUNCESTON FOODBANK LTD**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LAUNCESTON FOODBANK LTD**
I report to the trustees on my examination of the financial statements of Launceston Foodbank Ltd (the charity) for the year ended 31 October 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, I 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 I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I 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).
I 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.
## **Andrew Baker**
## **Chartered Accountant**
Victoria House St Catherines Hill Launceston Cornwall PL15 7EJ
Dated: .........................
- 3 -
## **LAUNCESTON FOODBANK LTD**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
42,562
1,010
Charitable activities
**4**
60
-
Other trading activities
**5**
82,080
-
Investments
**6**
311
-
Other income
**7**
106
-
**Total income**
125,119
1,010
Charitable activities
**8**
125,276
6,163
**Net income/(expenditure) and**
**movement in funds**
(157)
(5,153)
**Reconciliation of funds:**
Fund balances at 1 November
2022
65,875
5,434
**Fund balances at 31 October**
**2023**
65,718
281|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2022**
**2022**
**£**
**£**
**£**
43,572
44,224
6,000
60
27
-
82,080
68,135
-
311
9
-
106
-
-
126,129
112,395
6,000
131,439
106,399
645
(5,310)
5,996
5,355
71,309
59,879
79
65,999
65,875
5,434|**Total**
**2022**
**£**
50,224
27
68,135
9
-|
|---|---|---|
|||118,395|
|||107,044|
|||11,351
59,958|
|||71,309|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 4 -
## **LAUNCESTON FOODBANK LTD**
## **BALANCE SHEET**
## _**AS AT 31 OCTOBER 2023**_
|**Notes**
**Fixed assets**
Tangible assets
**14**
**Current assets**
Debtors
**15**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**17**
Net current assets
**Total assets less current liabilities**
**The funds of the charity**
Restricted income funds
**18**
Unrestricted funds|**2023**
**£**
4,301
59,133
63,434
2,556|**£**
5,121
60,878
65,999
281
65,718
65,999|**2022**
**£**
3,195
62,729
65,924
1,166|**£**
6,551
64,758|
|---|---|---|---|---|
|||||71,309|
|||||5,434
65,875|
|||||71,309|
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 October 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 to the small companies regime.
The financial statements were approved by the trustees on .........................
..............................
Tian Bersey
## **Trustee**
Company registration number 07841161 (England and Wales)
- 5 -
## **LAUNCESTON FOODBANK LTD**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **1 Accounting policies**
## **Charity information**
Launceston Foodbank Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is .
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's constitution, 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)". 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 applying FRS 102 Update Bulletin 1 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.
## **1.4 Incoming resources**
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.
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. Income from donated goods is not recognised until the point of sale of the goods because it is impracticable to measure the value prior to that point.
## **1.5 Resources expended**
Expenditure is charged in the accounts at the time when an obligation to make payment is incurred.
- 6 -
## **LAUNCESTON FOODBANK LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **1 Accounting policies**
**(Continued)**
Overhead costs are allocated where possible to the activity to which they relate. Other general overhead costs are allocated equally between activities.
## **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:
Fixtures, fittings & equipment 25% per annum on net value Motor vehicles 20% per annum on net value
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.
- 7 -
## **LAUNCESTON FOODBANK LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 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 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.
## **3 Income from donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**£**
**£**
Donations and gifts
35,032
-
Grant income
7,530
1,010
42,562
1,010|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2022**
**2022**
**£**
**£**
**£**
35,032
36,631
-
8,540
7,593
6,000
43,572
44,224
6,000|**Total**
**2022**
**£**
36,631
13,593|
|---|---|---|
|||50,224|
The trustees and management committee are grateful for the grants and donations received, including the following of £1,000 or more: Tesco via The Trussell Trust £4,780 (2022: £3,973), Trebartha Hydro Ltd £2,500, Charities Aid Foundation £2,000 and gifts from individuals.
- 8 -
## **LAUNCESTON FOODBANK LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **4 Income from charitable activities**
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2023**|**2022**|
|||**£**|**£**|
||Sale of goods|-|-|
||**Sundry sales**|||
||Sale of goods|60|27|
|**5**|**Income from other trading activities**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2023**|**2022**|
|||**£**|**£**|
||Charity shop sales|82,080|68,135|
|**6**|**Income from investments**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2023**|**2022**|
|||**£**|**£**|
||Interest receivable|311|9|
|**7**|**Other income**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2023**|**2022**|
|||**£**|**£**|
||Net gain on disposal of tangible fixed assets|106|-|
- 9 -
## **LAUNCESTON FOODBANK LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **8 Charitable activities**
|**Provision of**
**non-**
**perishable**
**food etc.**
**Charity**
**fundraising**
**shop**
**2023**
**2023**
**£**
**£**
Staff costs
26,910
40,422
Other direct costs
10,988
-
37,898
40,422
Grant funding of activities (see note 9)
831
-
Share of support costs (see note 10)
25,424
26,527
Share of governance costs (see note 10)
168
169
64,321
67,118
**Analysis by fund**
Unrestricted funds
58,158
67,118
Restricted funds
6,163
-
64,321
67,118
**For the year ended 31 October 2022**
Unrestricted funds
46,813
59,586
Restricted funds
645
-
47,458
59,586|**Total**
**2023**
**£**
67,332
10,988
78,320
831
51,951
337
131,439
125,276
6,163
131,439|**Total**
**2022**
**£**
54,986
3,003|
|---|---|---|
|||57,989
174
48,568
313|
|||107,044|
|||106,399
645|
|||107,044|
|||106,399
645|
|||107,044|
The value of volunteer time donated to the charity, measured at full national minimum wage rates, was £9,106 (2022: £9,253) at the foodbank and £30,783 (2022: £28,823) at the charity fundraising shop.
## **9 Grants payable**
||**Provision of**|Provision of|
|---|---|---|
||**non-**|non-|
||**perishable**|perishable|
||**food etc.**|food etc.|
||**2023**|2022|
||**£**|£|
|Grants to individuals|831|174|
||831|174|
-
- 10 -
## **LAUNCESTON FOODBANK LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **10 Support costs allocated to activities**
|Staff costs
Depreciation
Governance costs
**Analysed between:**
Foodbank activities
Charity shop activities|**2023**
**£**
9,096
1,541
30,688
9,953
673
337
52,288
25,592
26,696
52,288|**2022**
**£**
8,854
1,990
26,058
11,412
254
313|
|---|---|---|
|||48,881|
|||21,700
27,181|
|||48,881|
## **11 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or reimbursement of expenses during the year.
## **12 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
||**2023**|**2022**|
|---|---|---|
||**Number**|**Number**|
|Manager|1|1|
|Administrator|1|1|
|Shop|4|3|
||6|5|
|**Employment costs**|**2023**|**2022**|
||**£**|**£**|
|Wages and salaries|75,452|63,453|
|Other pension costs|976|387|
||76,428|63,840|
There were no employees whose annual remuneration was £60,000 or more.
- 11 -
## **LAUNCESTON FOODBANK LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **13 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **14 Tangible fixed assets**
|**Fixtures,**
**fittings &**
**equipment**
**£**
**Cost**
At 1 November 2022
17,816
Additions
155
Disposals
(587)
At 31 October 2023
17,384
**Depreciation and impairment**
At 1 November 2022
13,960
Depreciation charged in the year
1,002
Eliminated in respect of disposals
(543)
At 31 October 2023
14,419
**Carrying amount**
At 31 October 2023
2,965
At 31 October 2022
3,856
**15**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**16**
**Loans and overdrafts**
Bank overdrafts
Payable within one year|**Motor**
**vehicles**
**£**
5,263
-
-
5,263
2,568
539
-
3,107
2,156
2,695
**2023**
**£**
3,180
1,121
4,301
**2023**
**£**
223
223|**Total**
**£**
23,079
155
(587)
22,647
16,528
1,541
(543)
17,526
5,121
6,551
**2022**
**£**
2,747
448
3,195
**2022**
**£**
-
-|
|---|---|---|
The long-term loans are secured by fixed charges over [XXX]
- 12 -
## **LAUNCESTON FOODBANK LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **16 Loans and overdrafts**
## **(Continued)**
[An entity shall disclose information that enables users of its financial statements to evaluate the significance of financial instruments for its financial position and performance. For example, for long term debt such information would normally include the terms and conditions of the debt instrument (such as interest rate, maturity, repayment schedule, and restrictions that the debt instrument imposes on the entity.]
## **17 Creditors: amounts falling due within one year**
|**Notes**
Bank overdrafts
**16**
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**2023**
**£**
223
590
-
271
1,472
2,556|**2022**
**£**
-
337
375
78
376|
|---|---|---|
|||1,166|
## **18 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.
||**At 1**|**Incoming**|**Resources**|**At 31 October**|**At 31 October**|
|---|---|---|---|---|---|
||**November**|**resources**|**expended**||**2023**|
||**2022**|||||
||**£**|**£**|**£**||**£**|
|For office furniture and equipment|434|-|(153)||281|
|For hampers etc.|-|1,010|(1,010)||-|
|Trussell Trust grant|5,000|-|(5,000)||-|
||5,434|1,010|(6,163)||281|
|**Previous year:**|**At 1**|**Incoming**|**Resources**|**At 31 October**||
||**November**|**resources**|**expended**||**2022**|
||**2021**|||||
||**£**|**£**|**£**||**£**|
|For office furniture and equipment|79|500|(145)||434|
|For Christmas hampers etc.|-|500|(500)||-|
|Trussell Trust grant|-|5,000|-||5,000|
||79|6,000|(645)||5,434|
- 13 -
## **LAUNCESTON FOODBANK LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_
## **19 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**
**November**
**2022**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**£**
**£**
**£**
General funds
65,875
125,119
(125,276)
**Previous year:**
**At 1**
**November**
**2021**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**£**
**£**
**£**
General funds
59,879
112,395
(106,399)
**Analysis of net assets between funds**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**£**
**£**
**Fund balances at 31 October 2023 are represented by:**
Tangible assets
4,840
281
Current assets/(liabilities)
60,878
-
65,718
281
**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**
**Fund balances at 31 October 2022 are represented by:**
Tangible assets
6,117
434
Current assets/(liabilities)
59,758
5,000
65,875
5,434|**October**
**2023**
**£**
65,718
**October**
**2022**
**£**
65,875
**Total**
**2023**
**£**
5,121
60,878
65,999
**Total**
**2022**
**£**
6,551
64,758
71,309|
|---|---|
## **20 Analysis of net assets between funds**
## **21 Related party transactions**
There were no disclosable related party transactions during the year (2022 - none).
- 14 -