**Charity registration number 1146252** **Company registration number 07950932 (England and Wales)** **THE GERRICK ROSE ANIMAL TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024** ## **THE GERRICK ROSE ANIMAL TRUST** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Mr D M F Lorimer (Chairman)|| |---|---|---| ||Mrs J C Knuckey|| ||Ms C M Thomas|| ||Mrs J A Davis|(Appointed 1 June 2023)| |**Secretary**|Mrs J C Knuckey|| |**Charity number**|1146252|| |**Company number**|07950932|| |**Registered office**|Coliza Crest|| ||Trelowth|| ||ST AUSTELL|| ||Cornwall|| ||PL26 7DX|| |**Independent examiner**|Ian W Chalmers FCA|| ||Phillips Frith LLP|| ||9 Tregarne Terrace|| ||St Austell|| ||Cornwall|| ||PL25 4DD|| |**Solicitors**|Stephens Scown LLP|| ||Osprey House|| ||Malpas Road|| ||Truro|| ||Cornwall|| ||TR1 1UT|| ## **THE GERRICK ROSE ANIMAL TRUST** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 3| |Independent examiner's report|4| |Statement of financial activities|5| |Balance sheet|6| |Notes to the financial statements|7 - 13| ## **THE GERRICK ROSE ANIMAL TRUST** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** ## _**FOR THE PERIOD ENDED 31 MARCH 2024**_ The Trustees present their annual report and financial statements for the period ended 31 March 2024. 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 governing document, 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** For the benefit of the public to relieve the suffering of animals in need of care and attention, in particular but not exclusively in Devon and Cornwall, by providing financial assistance where appropriate and necessary to other charitable organisations within the country whose sole aim is also to provide relief from pain and suffering for animals. We can achieve this by providing grants, donations, funding and any other form of support as the trustees may from time to time determine. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. ## **Achievements and performance:** ## **Charitable activities** The trust has continued to improve and maintain the properties within the Huxley Close, Bell Close and Condor Quay sites as part of its routine each year. The trust has sold Tamerton to generate further funds and we are awaiting the sale of Harrow Road to make some large savings, this will enable us to make some bigger donations and support some larger projects for 2024/2025. The trust has continued to generate high levels of income during the year which has resulted in the trust being able to make donations to charities with similar aims and objectives. Donations totalling £33,720 (2023: £53,813) were made during the year to Battersea Dogs and Cats Home, HART Wildlife Rescue, People 4 Ponies, The Brook Hospital, Hillside Animal Sanctuary, Angels for Animals, Bath RSPCA, Bristol Animal Rescue Centre, Cornish Seal Sanctuary, Devon RSPCA, Exeter Ponies, Ferne Animal Sanctuary, Happy Pastures, Maria Animal Shelter, Mayhew Animal Home, Raystede, Remus Horse Sanctuary, St Petrocs, The Cotswolds Dogs and Cat Home, The Flicka Foundation, Wild Futures and WWF. Through careful management, the property portfolio has been largely unaffected by the current economic climate. The majority of our tenants have continued to pay the rent on time and as a consequence the charity has only been affected in a minor way, any underpayments by tenants are now under repayment plans which continue to work well. Overall and in the circumstances, the trustees believe that the rental income stream has held up stronger than was initially expected and whilst there are currently arrears, they are of a minor nature. There have been some small changes in tenancy and a full refurbishment to one property, but this too is now fully let. ## **Fixed asset investments** The trustees have invested funds within a managed share portfolio which is held at market value in the financial statements. The trustees have considered risk levels and concluded that the investments are medium risk, but are sufficient for the needs of the charity and generate an adequate return. In the current year there were realised gains on these investments of £16,654 (2023: £11,777). ## **Investment properties** Rents receivable in respect of the investment properties held in the year totalled £196,418 (2023: £218,196). - 1 - ## **THE GERRICK ROSE ANIMAL TRUST** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE PERIOD ENDED 31 MARCH 2024**_ ## **Financial review:** ## **Financial position** The net realised income for the year was £50,608 (2023: £104,853) and net movement in unrestricted funds was an increase of £158,830 (2023: £23,558). ## **Principal funding sources** The charity's income is predominantly made up of rental income from its property portfolio. The charity's main expenditure includes the management of the investment properties and donations to animal charities in line with the objectives and aims. ## **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 not less than 12 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 period. ## **Future plans** Looking forward to our future plans, we have established that currently one of our properties in the portfolio, Harrow Road, is unfortunately beginning to cost the charity outgoing monies now that the premises are vacant. The utilities and insurance on this property are high and therefore we have discussed at length and decided this property will be sold to save the charity ongoing and rising costs; we have agreed an offer on this property, and it is currently in the hands of the solicitor to work towards a completion date, we hope this will be soon. We will continue to make regular donations to provide financial assistance to charities and make continued visits to the sites that we have already provided with donations. We have already provided to many good causes and have a good relationship with current charities we are supporting. We attend annual events to pass on the Gerrick Rose name and encourage new applications for future discussion and donations. We also take part in as many monthly sponsors as we can making smaller and more regular donations to keep the Gerrick Rose name advertised. ## **Structure, governance and management:** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The Trustees, who are also the directors for the purpose of company law, and who served during the period and up to the date of signature of the financial statements were: Mr D M F Lorimer (Chairman) Mrs J C Knuckey Ms C M Thomas Mr A J Cusack (Resigned 31 May 2023) Mrs J A Davis (Appointed 1 June 2023) ## **Recruitment and appointment of new trustees** Currently the charity is run by four trustees. It is not envisaged that this amount will be increased in the short term but allowing for age and retirement, this is an area that the trustees will review over the medium term. - 2 - ## **THE GERRICK ROSE ANIMAL TRUST** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE PERIOD ENDED 31 MARCH 2024**_ ## **Organisational structure** The role of the trustees is split into two distinctive areas. Mrs C M Thomas deals with the day to day management of the business including the financial duties for the charity and is responsible for the properties. Mrs J C Knuckey is responsible for assessing and approving any applications for grants from charities, also assisted by Mrs C M Thomas. Committee meetings are held quarterly with one being the annual general meeting. These are generally attended by all trustees along with the accountants, financial advisors and when necessary property professionals, should advice be required from them. The Trustees' report was approved by the Board of Trustees. ## **Mrs J C Knuckey** ## **Trustee** 16 September 2024 - 3 - ## **THE GERRICK ROSE ANIMAL TRUST** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF THE GERRICK ROSE ANIMAL TRUST** I report to the Trustees on my examination of the financial statements of The Gerrick Rose Animal Trust (the Charity) for the period ended 31 March 2024. This report is made solely to the Charity's Trustees, as a body, in accordance with section 154 of the Charities Act 2011. My independent examiner's work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity, the Charity's members as a body and the Charity's Trustees as a body, for my independent examiner's work, for this report, or for the opinions I have formed. ## **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. ## Ian W Chalmers FCA Phillips Frith LLP 9 Tregarne Terrace St Austell Cornwall PL25 4DD Dated: 18 September 2024 - 4 - ## **THE GERRICK ROSE ANIMAL TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE PERIOD ENDED 31 MARCH 2024**_ |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2024**|**2023**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Charitable activities|**2**|224,291|249,968| |**Expenditure on:**|||| |Raising funds|||| |Investment management|**3**|78,206|59,606| |Charitable activities|**4**|112,131|97,286| |**Total expenditure**||190,337|156,892| |Net gains/(losses) on investments|**6**|52,366|(69,518)| |**Net incoming resources**||86,320|23,558| |**Other recognised gains and losses**|||| |Profit on disposal of tangible fixed assets||72,510|-| |**Net movement in funds**||158,830|23,558| |Fund balances at 6 April 2023||3,398,791|3,375,233| |**Fund balances at 31 March 2024**||3,557,621|3,398,791| The statement of financial activities includes all gains and losses recognised in the period. The statement of financial activities includes all gains and losses recognised in the period/year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. - 5 - ## **THE GERRICK ROSE ANIMAL TRUST** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2024**_ |**Notes**
**Fixed assets**
Tangible assets
**8**
Investment properties
**9**
Investments
**10**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Creditors: amounts falling due within one**
**year**
**12**
Net current (liabilities)/assets
**Total assets less current liabilities**
**Creditors: amounts falling due after more**
**than one year**
**13**
**Net assets**
**Income funds**
Unrestricted funds
**16**|**2024**
**£**
**£**
662
2,840,000
740,359
3,581,021
83,710
432,224
515,934
(539,334)
(23,400)
3,557,621
-
3,557,621
3,557,621
3,557,621|**2023**
**£**
**£**
169,299
2,840,000
709,445
3,718,744
72,215
113,177
185,392
(141,447)
43,945
3,762,689
(363,898)
3,398,791
3,398,791
3,398,791| |---|---|---| The charitable company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the period ended 31 March 2024. 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 period 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 16 September 2024 Mrs J C Knuckey **Trustee Company registration number 07950932** - 6 - ## **THE GERRICK ROSE ANIMAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## _**FOR THE PERIOD ENDED 31 MARCH 2024**_ ## **1 Accounting policies** ## **Charity information** The Gerrick Rose Animal Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Coliza Crest, Trelowth, St Austell, Cornwall, PL26 7DX. ## 1.1 **Reporting period** [ FRS 102 3.10 An entity shall present a complete set of financial statements (including comparative information as set out in paragraph 3.14) at least annually. When the end of an entity’s reporting period changes and the annual financial statements are presented for a period longer or shorter than one year, the entity shall disclose the following: (a) that fact; (b) the reason for using a longer or shorter period; and (c) the fact that comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. ] ## **1.2 Accounting convention** The financial statements of the charitable company have been prepared in accordance with the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. ## **1.3 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. ## **1.4 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. ## **1.5 Income** Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 7 - ## **THE GERRICK ROSE ANIMAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE PERIOD ENDED 31 MARCH 2024**_ ## **1 Accounting policies** **(Continued)** ## **1.6 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **1.7 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: Freehold buildings 2% per annum on the straight line method Fixtures and fittings 20% per annum on the straight line method Computer equipment 20% per annum on the straight line method 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. ## **1.8 Investment property** Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the statement of financial activities. Investment properties consist of a collection of freehold properties which are let under commercial and private tenancy agreements. All investment properties are held at fair value at the balance sheet date. ## **1.9 Fixed asset investments** Investments relate to a listed share portfolio held by the charity at fair value. These investments are within equities and fixed interest securities which are traded on quoted public markets. Asset sales and purchases are recognised at the date of trade at transaction value. ## **1.10 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. ## **1.11 Taxation** The charity is exempt from corporation tax on its charitable activities. - 8 - ## **THE GERRICK ROSE ANIMAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE PERIOD ENDED 31 MARCH 2024**_ |**2**
**Charitable activities**
Rents received
Dividends and interest
Insurance recharged
**3**
**Raising funds**|**2024**
**£**
196,418
14,959
12,914
224,291|**2023**
**£**
218,196
16,993
14,779| |---|---|---| |||249,968| |||| |Portfolio management fees
Property management fees
Property insurance
Property repairs
Property legal and professional fees|**2024**
**£**
7,012
24,164
19,055
13,193
14,782
78,206|**2023**
**£**
7,335
19,497
16,237
2,692
13,845| |---|---|---| |||59,606| **4 Charitable activities** |**Charitable activities**||| |---|---|---| |Staff costs
Donations
Rates and water
Insurance
Light and heat
Telephone and internet
Advertising
Sundry expenses
Travel and subsistence
Service charges
Bad debts
Share of support costs (see note 5)
Share of governance costs (see note 5)|**2024**
**£**
-
33,720
9,219
2,117
2,011
804
329
685
3,018
1,751
20,161
73,815
31,066
7,250
112,131|**2023**
**£**
375
53,813
(271
1,804
1,331
3,613
3,492
35
1,540
845
-| |||66,577
24,209
6,500| |||97,286| - 9 - ## **THE GERRICK ROSE ANIMAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE PERIOD ENDED 31 MARCH 2024**_ ## **5 Support and governance costs** |**Support costs**
**Governance**
**costs**
**£**
**£**
Bank charges
2,222
-
Depreciation of tangible
fixed assets
348
-
Bank loan interest
28,496
-
Accountancy fees
-
6,125
Independent examination
-
1,125
31,066
7,250
Analysed between
Charitable activities
31,066
7,250|**Total**
**2024 Support costs**
**Governance**
**costs**
**£**
**£**
**£**
2,222
46
-
348
2,717
-
28,496
21,446
-
6,125
-
5,500
1,125
-
1,000
38,316
24,209
6,500
38,316
24,209
6,500|**Total**
**2023**
**£**
46
2,717
21,446
5,500
1,000| |---|---|---| |||30,709| |||30,709| ## **6 Net gains/(losses) on investments** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |Unrealised gain/(loss) on revaluation of investments|35,712|(81,295)| |Realised gain on sale of investments|16,654|11,777| ||52,366|(69,518)| ## **7 Taxation** The Gerrick Rose Animal Trust is a registered Charity and is thus exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that those are applied to its charitable objects. No tax charges have arisen in the Charity. There was no UK Corporation Tax payable by The Gerrick Rose Animal Trust in either period. - 10 - ## **THE GERRICK ROSE ANIMAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE PERIOD ENDED 31 MARCH 2024**_ |**8**
**Tangible fixed assets**
**Cost**
At 6 April 2023
Disposals
At 31 March 2024
**Depreciation and impairment**
At 6 April 2023
Depreciation charged in the period
Eliminated in respect of disposals
At 31 March 2024
**Carrying amount**
At 31 March 2024
At 5 April 2023
**9**
**Investment property**
**Fair value**
At 6 April 2023 and 31 March 2024|**Freehold**
**buildings**
**Fixtures and**
**fittings**
**Computer**
**equipment**
**£**
**£**
**£**
170,000
984
7,492
(170,000)
(612)
(1,868)
-
372
5,624
2,050
689
6,438
-
55
293
(2,050)
(429)
(1,712)
-
315
5,019
-
57
605
167,950
295
1,054|**Total**
**£**
178,476
(172,480)
5,996
9,177
348
(4,191)
5,334
662
169,299
**2024**
**£**
2,840,000| |---|---|---| Mr Brian Botting FRICS on behalf of Miller Commercial Valuers Ltd, carried out revaluations on all commercial freehold properties in April 2022. The market values of these properties on the dates of valuation were deemed to be:- 775 Harrow Road - £360,000 Condor Quay Business Park - £1,000,000 Huxley Close - £820,000 Unit 21, Bell Close - £360,000 In 2013, former property management company May, Whetter and Grose carried out revaluations on the residential properties. The fair value of these properties on this date was deemed to be £300,000. The Trustees believe this represents their current market value at the balance sheet date. - 11 - ## **THE GERRICK ROSE ANIMAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE PERIOD ENDED 31 MARCH 2024**_ ## **10 Fixed asset investments** ||**Listed**| |---|---| ||**investments**| ||**£**| |**Cost or valuation**|| |At 6 April 2023|709,445| |Additions|29,000| |Valuation changes|52,365| |Disposals|(50,451)| |At 31 March 2024|740,359| |**Carrying amount**|| |At 31 March 2024|740,359| |At 05 April 2023|709,445| ## **11 Debtors: amounts falling due within one year** |Trade debtors
Other debtors
Prepayments and accrued income|**2024**
**£**
60,519
10,000
13,191
83,710|**2023**
**£**
50,328
10,000
11,887| |---|---|---| |||72,215| ## **12 Creditors: amounts falling due within one year** |**Notes**
Bank loans
**14**
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**2024**
**£**
366,702
52,338
10,836
17,675
91,783
539,334|**2023**
**£**
70,153
3,590
-
20,175
47,529| |---|---|---| |||141,447| Income relating to rent, insurance and service charges received in advance has been deferred to the following period. Deferred income for the year ended 31 March 2024 totalled £51,033 (5 April 2023: £44,904) ## **13 Creditors: amounts falling due after more than one year** |||**2024**|**2023**| |---|---|---|---| ||**Notes**|**£**|**£**| |Bank loans|**14**|-|363,898| - 12 - ## **THE GERRICK ROSE ANIMAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE PERIOD ENDED 31 MARCH 2024**_ |**14**
**Loans and overdrafts**
Bank loans
Payable within one year
Payable after one year|**2024**
**£**
366,702
366,702
-|**2023**
**£**
434,051| |---|---|---| |||70,153
363,898| National Westminster Bank PLC have filed charges with Companies House, the particulars of which include fixed charges and negative pledges, which are secured over the following properties:- Land at Huxley Close, Plympton, Plymouth, PL7 4JN Property at 775 Harrow Road, Wembley, London, HA0 2LW Property at Condor Quay, East Quay, Bridgewater, Somerset, TA6 4DB ## **15 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 6 April 2023**
**£**
General funds
3,398,791
**Previous year:**
**At 6 April 2022**
**£**
General funds
3,375,233
**Analysis of net assets between funds**
Fund balances are represented by:
Tangible assets
Investment properties
Investments
Current (liabilities)/assets
Long term liabilities|**Incoming**
**resources**
**Resources**
**expended**
**Gains and**
**losses**
**At 31 March**
**2024**
**£**
**£**
**£**
**£**
224,291
(190,337)
124,876
3,557,621
**Incoming**
**resources**
**Resources**
**expended**
**Gains and**
**losses**
**At 5 April 2023**
**£**
**£**
**£**
**£**
249,968
(156,892)
(69,518)
3,398,791
**Unrestricted**
**funds**
**Unrestricted**
**funds**
**2024**
**2023**
**£**
**£**
662
169,299
2,840,000
2,840,000
740,359
709,445
(23,400)
43,945
-
(363,898)
3,557,621
3,398,791|**31 March**
**2024**
**£**
3,557,621| |---|---|---| |||3,398,791| ## **16 Analysis of net assets between funds** Included within unrestricted funds are revaluations on freehold and investment properties totalling £115,728. - 13 -