Draft Financlal StatèmÈnts at 19 September 2024 at 13'.35:41 Charity registratlon number 1147602 Company registration number 07996550 (England and Walosl THE JOHN STRUTT MEMORIAL FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 '• xeinadin
Draft Financial Statements af 19 Septèmber 2024 at 13:35:41 THE JOHN STRUTT MEMORIAL FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Tru9t8 Mr R F de Robeck Mr P Mccorniick OBE Mr C me1calGIbS0n MT E M F Penros8 Mr WTeifer-Smollett Mr R K Greavas Charlty numbgr 1147602 Company number Rgglstgred offlco John G Hills The Estaie Offieè Leybum - North Yorfrtshirè DL8 SEW Ind•pondBnt examiner Deborah Fleicher-mcvay FCA Xeinadin A¢countants Oak House. Matkel Place Bedale North Yorkshlre DL8 1AQ Banke Barclays Bank PIC 3_1 High_Row rtngt Counly Durham DL3 7QS Solicltors M¢Corml¢ks arledale House 35137 East Parade Harrog* North Yorkshire HG15LQ
Draft Financlal Ststements at 19 September 2024 at 13-.35'.41 THE JOHN STRUTT MEMORIAL FOUNDATION CONTENTS Paga TnJstee5' report Independent examiners report Statement of financial actsvihes BalÈn¢e sheet Notes lo th8 finandal statements 7-11
Draft Flnancial Statsments at 19 September 2024 at 13:3S:41 THE JOHN STRUTT MEMORIAL FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARGH 2024 The trustees pr&5enl their annual report and finanual statements for Ihe year ended 31 Marth 2024. The finanual statements have been prepared in ¢uJrdan¢8 wlth the accounting pdi¢les set oul in note 1 to the nanB]al slalemenls and LX)rnply with the charitys memorandum and 8rticles of assoaatson. the Companies Ad 20( and "Accounllng and Reporting by Chariiies." Statement of Recommended Practice applicable lo Bharilies preparing their acLX)unts In accordan with the Finanaal Reporting Standard applicable In the UK and Republic of Ireland IFRS 102)" l¢ffectve 1 Jarkuary 2019). Obj•¢U¥o$ and activlties The charity's objects are lo support registèred d)arriies in the achievement of their charitable objectiv&s within the counties of Cumbria and Derbyshire. in particular Ih05e ¢haride5 or charitable objedves that have a cDnnecilon wllh The John Strutt Con$erv81ion Foundation. The John Stnrtt Charrty and The John Slrutl Contre for Parrot Conservation. In order lo meet il's tharftable otyectNes the charity is involved in F)Toviding grants to indIvu¥l$ and QTganisations-. Long tsrni alm3 and objoctN•s The charity'8 obJo¢is 8r8 sp8cffulty restricted lo the fknng'. To benefrt sUChtheexduse-tharIl0e objectives-ar-pUvp5eS-Wilhin-the-untleS.0f£mbri0-and10r- Derbyshire, a5 the charity may deletming from time to time, in PacUlar thos6 charitable obje¢llvo8 and puwses that have a connadion wtth: The John Strutl ConseNation Foundalion 8. The John Strutt Charity.. and b. Th& Jehn Slrutt Centre for Parrot Conservation- and 2. to support registered d)aries in the achievement of their charilale objeclpdes vffthin the county of Cumbria. in particulaT Ih05e charibes or chaiitable objectivès tht hxvè a connection with: The John Strutt Consetvabon Four(dation The John Sltutt Charity- atsd b. The John Strutt Centre lor Parrot ConseNabon. These aims and objedves invofve the consofidabon and ènhancement of the capital value base, Involving thè retenllon and orbgoing improvement of chaiity a55ets. Public benèfit statement The tmsleès ha paid due regard lo guidance issued by the Charity Cornrntssion in decTding what adilisS the charity should undertake. Achievements and performance The trustees recognise the Strutt famli y were the key benefadors in building of the town of Belper. ThSs commenced at the stsrt of the cotton Industry with Jedediah Strutt11726 - 17971 vtho slarfed pur¢h8sing land in 1777 to build his first Cotton kqill in Belper. whlch vas a h2mlet ol framework Knitter5 and nail-makers and this led on to the buildirtg of mill workers houses and now fomis an irnport8nt part of the history of the town of Belper In Defoyshire.
Draft Flndncial Statements at 19 September 2024 at 13=35'.41 THE JOHN STRUTT MEMORIAL FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The benefits conveyed by this performance, are primarily reflected in the capacity of the charity lo prolde financial support lo associated ch21ilies, and thereby to the wider public. but also on a more local levèl lo enhance and improve the environment in and around thèir south Derbyshire base ol Belper. The Iruslees review their porttolio of assets annually and this has led lo certain properties which do not form part of the core èslale and are considered for sale on the open market. The trustees manage a wide range of properties including commercial, residential and agricultural farms and land. The trustees, policy is to identify the original Slrull buill properties and mill houses in thé trust lo be retained, improved and leased. The Iruslees will continue a wider basys with their policy for their ori-going review ol the ch3rily's assets lo est3blish the true capital value of these, and also understand h(>w these might be ulilised lo their full advantage by relenlion, improvernenl and in some cases by small scale disposals and re-inve51menl. The trustees held their annual meeting on 21 October 2022 which included a lull on.site review of all properties owned by the charity and those under renovation. Cuiieril delays continue al the Land Re9islry are preventing ownership of several properties and land being transferred Irorn the eslale of the late John Strutt to that of the chaAty, but once all matters are finalised, the Irustees can work towards more subslanlial plans in line with the charity's objectives. Currèntly. the trustees are concenlialing their efforts on providing upkeep lo the charity of the John Strull Centre for Parrot Conservation in Cumbria along with increased security and improvernents to thè property at Eden Place and associated aviaries to allow a steady increase in the number of birds owned by the charity for the public benefit and study. Investment Assèts The Foundation own a portfolio of hou8e5, farrns, buildings, 18nd and allotmenl8. These are all leased lo provide income lo support the charity's objectives. During ths year there has been significant maintenance woik undertaken on the portfolio ol pioperties to return thern lo a marketable condition. These properties include No'5 38 and 69 Hopping Hill were renovated and leased during the year 2022- 2023. Properties that remain lo be re-furbished are al 64 Long Row, 46 Short Row and No. 2 Knoll Top. The IrL5slees are considering the future of the mill house al No. 46 Short Row which is leased on short term holiday lets. This is the property wher6 the tiuslees turned the clock back lo an original mill house bLJI unfortunately following th6 pandemic the demand for il as holiday let has fallen. Flnancial revlèw The StaletneTII of Financial Aetivilies shows nel income of £1,168,005 12023 nel incorne of.. £93,272), including donations of properties with 8 value of £775,000 12023". £nill from the èsl8le of the late John Slrutl. Revaluation gains on the ¢haiity's iriveslment propèrties arnounled lo £370,60712023'. £154,172). Total funds at 31 March 2024 were £5,656.391 (xirnpared with £4.488,386 in 2023. The principal funding source during the current year wa5 ienlal income and the donation of properties. Reserves pollcy It is the policy of the charity that unie51ricled funds which have not been designated lor a specific use should be rnainlained at a level equiva1enl lo between three and six month's expendiluie. The trustees considers that reserve5 at Ihis level will ensure that, in the event of a significant drop in funding, they will be able lo continue the charity's current activities while consideration is given to ways in which additional funds may be raised. Due lo the expendiluie in¢urred in ongoing improvement work to the ¢haiity's investment properties il has not been possible lo rneel this level of reserves. The trustees believe that once the improvement work has been completed the enhanced rent will allow reserves lo be increased lo the desired levèl. Risk factors Thè trustees have assessed the majoi risks to which th8 charity is exposed. and are satisfied that systems are in place lo mitigate exposure lo the major risks. Investment property, and ils capacity to genèr8le incorne, is the charity's tllosl important asset. As such the principal risks to which the charity is exposed are those associated with this type of propÈrty.
Draft Flnan¢ial Statements at 19 SeptèTnbÈr 2024 at 13:35:41 THE JOHN STRUTT MEMORIAL FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Legal & pDlilical risks - Due lo changes in tha legal framewo govemlng investrnenl PTDperty, andlor the wlder political framework affe¢ting rural and residential wopety. These risks are more drf11¢ lo rnitigate, but payllig close attention to developments In these areas and taknng advice from the relevant prof810naIs, as part of tr,e rnanagement fvn¢tion, limit any negative impacts. Physical Loss- Due lo natural or m8made damage, is Ihe most direct rlsK and the property asset is thus propèrty in8ured agalnsl such OC¢UTrences. proper mainlenance is ¢arried out togetherwith regular PToperty Inspections. Loss of InMe- As a resuk ol lack ol tÈnanls. or lenants inability lo pay.ls 8tsts a risk, which is met by undertaklng proper management lo secure occupation and maintsin (fjntrcl ol debt. PlanB for futuré perlod$ There Is 8n on-going re]eW of Ihe chariws assets. lo eslabfth the full capytal value of these, and also undersland how these might bè ulilisèd lo ful advantage, by Tetenlion and ImprovemenL or in some cases by sm811-s¢ale dlspos81 and re-investment. The programme of improvement to existing propert5es Is also set to èLntinue. to drive fonvard the aims and objeGtlves of rdising income, and asset value. lo enable the chat5ty to support its associated charitable ende8vour8. Structurn, govemaneè and management The charity is a company limited by guarantee. 8nd is govamad by a Memorandum and Artides ofAssou*'on. The trustees, who are atso the diTeclors for thè purp of company law. and who served durlng the year and up to the date of signature ol th¢ financial statements wÈrÈ'. Mr R F de Robed( Mr P M¢Comiick OBE Mr C Melcalfe-Gibson Mr E M F Penrose Mr iVTelfer-Smollett The board of trustees has the power to appoint addibonal tru51ees as it considers approprtale. None ofthe trustees has any benefjcial interest in the (x)mpany. Ml of the trustees are members ofthe company and guarantee lo contribute £1 in the event of a winding up. The cb.2rity is operated as 8 MpanY contrdled by a board of Twstees. Major strategie and policy decisions, 8nd those invol1ng major areas of expendtture 8Te made by Ihe board, cJJrrentty consisting of fiv8 Trustees. Lower level management decisions are delegated lo the Trustee iri ch&ge of the estate management role, cutrenyy Mr R F De Robeck, with day lo day managemenl delegaied lo the eslales tnanaging agents. John G Hills & Partners. working wllh olher professional advisors. No formal training is given to the trustees but re¢tultrnert Is onTy made from those who support the charitls objectwe5 and are consldered well qvalrfied to trfbUte lo its wutk All trusletts glvè Ih8irtime fre81y and no trustee remunerdtion was paid in the year. The trusteès, report was approvad by the Board of TnEStees. Mr R F de Robeck Trustee Date..
Draft Financlal Statsments at 19 September 2024 at 13:35:41 THE JOHN STRUTT MEMORIAL FOUNDATION INDEPENDENT EXAMINER'S REPORT TOTHE TRUSTEES OF THE JOHN STRUTh MEMORIAL FOUNDATION I raport lo the trustees on my examination of the finaneAal st8tem8nts of The John Strutt M8mDri81 Foundation (the charity} for the year endwj 31 March 2024. Re5ponslbllitl•s and basis ot report As the trnstees of the chariiy land also ris directt)ts for the PUTposes of company lawl you are respoThglble foi the preparalK)n of the finandal stalemenls in a¢X0rdan wi'th the iequirements tsf the Companies Act 2008 Ilhe 2 Having salisfled myself that the finanal statem8nts of the charity are not required to t* audited uThder Part 16 of the 2006 Act and are 81igible for Independent examination, I report in rgspe¢t of my examination of the charity's financial statem9nts cariied Qui under section 145 of Ihe Charities Act 2011 (the 2011 Act). In carying out my examinafjon I have followed all the app]ible DirEctions given by the Charity Comm15s1on ¥Jnder section 14Sl5llbl of th6 2011 Act. Independent oxamlnèrfs ytatemont in¢e the Charits_gr[>s income exceeded £250.000 your examiner must be a memb8T of a bo¢y.IL51e_d_ ID. &ection 145 01 the 2011 Act. I confimi th2t18m qualified to underlake the examination bec2use l am a member rjf tENTER IN DATABASE cy10151, which Is one of the listeil bodies. I have wmpleteij my exarninalion. I confirm that no matters have comfy lo my attentrn in connectlon with the - BxaminalionryMngrne'cause"lothliev8lhatininyTralerial res accounting record54YeTe not kept in respect ofthe thatty as required by section 386 ofthe 20(At,, or the finanual statements do not accord wlh those records,. or the financial statements do not comply with the aw)unting requirements of sectlon 396 01 thè 2006 Act other than any requlrement that the aeeounts a true and tsir view ¥thich is not a m8tt&r nSidered as part of an independent examination; 01 the f3¢[81 slalements have not bèen prepared in a¢cO[dan with the methods and prin¢¥)les of,the S18temenl ol Re¢ommended Pradi for aceounting and Teporting by charibes appli¢abte to chariti6S Ropublic ol Ireland IFRS 102). I havg no concems and have Corne across no other mattets in nnectiOn with the examination to which attention shoukl be drawn in this report in orderio enabk a proper ullderstandg of the fjnaThcial slalements to be reached. Deborah Flet¢heT4trl¢Vay FCA Xeinadin Accouniants Oak House, Market Place Bedale North Yorkshire DL8 1AQ Dated.. .........................
Draft Fsnanelal Stst•mfrnts at 19 September 2024 at 13:35'.41 THE JOHN STRUTT MEMORIAL FOUNDATION STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrg$trlctsd funds 2024 UnrestrletÈd funds 2023 Note$ Income from: Donations and legao8s Irwe8lments 775,000 È5,$85 Total lricoffié 88S.840 EKp&ndlturè on: Raising funds cbarlt8.bk actiMties Total •xpendlture 88.442 146,485 N81 gainsloossesl on inve81ments 370,607 Net Incomp and movement In funds 1,168,005 93,272 Reconciliatlon of funds: Fun'd'b312hees al I-A n12D23""" -4 488 386" '_4 395 114 Fund balancès at.31 March 2024 5,656,391 4.488.38e Thè statement of financial aclwtbes indudes all gains ar losses regnIsed Sn ts year. All in(x*me and expen&ilure derfve from ¢ontinuing actimties. Tha ststement of financial adivtbes also compl5 wilh the requirements for an income and expenditure acLount undeT the Companw Aci 2006.
Draft Flnancial Statements at 19 Saptèmbèr 2024 at 13'.35:41 THE JOHN STRUTT MEMORIAL FOUNDATION BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Flxed assets Investhienl prope 11 5,740.th)0 4,585,000 Currentassets Debtors Cash at bank and In hand 12 3,520 16,271 25.101 33,161 19,791 Creditors: amounts falling dué wlthln onè ygar 14 (116.770) {16,4051 Nat current Illabilill&slla$sets {83,609)..- 3,386 Total a$s$ts less currnnt liabllltles 5.656.391 4,588,388 Credliors: amounts fairing due after more than year 15 1100,0001 Net assets 5.656.391 4,488.386 Thè fund8 of the chaiity Unrestricted funds 5,656.391 4.488.386 391 The CDThpany is enlilled lo the exemption from the audit fequiremenl nIned in section 477 of the Cotnpanie5 Act 20(, for the year ended 31 M8rd) 2024. The directors ad(nowledge their re5ponsfoilitie$ for ¢omptying with the requiremetts of the Companies Act 2006 with respect lo ac£o¢Jnling records and the prepatation of )%rkin(xal stalemenls. The members have not required the MpanY to obtsin an audii of ils finanLaal statemenls for thè year in question In accordance with Se0n 476. These financial slaletnents have been prepared in accordanc% wilh the provisw)ns applicable lo companies subje lo the cornpanie5 regime. The finaTKial statements werè gpproved byfhe trustees on................... Mr R F de Robeck Trustsè Company registralion number 07996550 Fngland and Wales}
Draft Flnanclal Statemènts at 19 Sept&mber 2024 at 13:35:41 THE JOHN STRUTT MEMORIAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 A¢countlny poll¢les Charlty Infomiatlon The John Slrult Memorid Foundation i8 a PTivate company Drniled by guarantee incorporated in England and Wales. The registered office 1$ John G Hills, The Estsle Office. Leybum, North Yortshir8, DL8 SEW. 1.1 AcGourkting convention The financial slalements havè beèn piep8réd in 8co)rdancs wThh th8 chariws mèmor8ndum and articl8s of asEocialion, the Companies Act 2006. FRS 102 The Financial Reportlng StandaTd applicabl& in the UK and Rèpublic of Ireland. fFRS 1tr2) and the Charibes SORP'Ac£ounting ar.d Repong by ChariUes- Statement of Recornmended Practi¢e Applicab lo ¢harbes prèp8rfng their accounts In accordancè with th& Financial Reporting Standard appficable the UK and Fiepublic of [rend {FRS 1021" leffectNe 1 January 20191. The Charty is a pu1¢ B6n8fit Entkty as defined by FRS 102. The charty has taken aifvantage of the Prols1o5 in the SORP for tharities not lo prepare a Statement of Cash Flows. The financS2l slalements are prepared in sterling. whth is the ftjndional currency of th& charity. Monetary arnoun15 in these finandal ststemenls 8rÈ roundèd lo the nèar8st £. nanCIal.teMents- hava"-beBnTrr&pBred undeT-thethistoiirAI Tost" conven110]Odlsd-tD-1ndllde""- invesknenl properties al falr value. The prfnopal atcounung polid8s adopted are set out below. 1.2 Golng eoncem Al the lim& of 8pproving the financial stalemenls. the trustees have a reasonable expedalion Ihat the charty has adequate resources to ¢onUnuo In oporation wslenoe for th& foreseeablg fiJlu¥e. Thus Ihe trustees continue lo adopt the going con basis of acuuvtling in preparing the financial statements. Unrestrirted ftjnds are availat4e for use al the discretion of the tru51ee5 In fvrther3n of their tharilablè objectives. 1A Incomè Income is recognised when Ihe Charity is lega]ly entilled lo it after any performance condiuons ha been mèl, the amounts Gan be measuTed reliably. and it is probable that income will be re¢eived. Cash donations are recognlsed on receipt. Other donations a recognlsed once the charfty has been nollfi¢d of the donation. unless performan(L conditions require deferral of the amount. Income tax reGoveralAe in relallon to donations receivèd vnder GiftAid or deeds of l¥nant is rwnlsed at the tim8 of the donation. Grant income is recognised when recEivable except when the donor imposes conditions which have y81 to b& fulfilled before Ihg thaikty becomes enttued to use such inwme. Investment incnme, in the foTTn of investment diwdends and rental income. is recognised when receabl& by the Charity. 1.5 Expenditure Resources expended are inc4uded in the Staternent of Financt81 Acbwties on an accTuals basis, hduslve of any VAT whSch cannot be recovered. Expenditure oi raising funds Tepresent those costs assouated wth generating the investment inu)me.
Draft Financlal Statements at 19 Septembèr 20Z4 at 13'.35:41 THE JOHN STRUTT MEMORIAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢Gountsng policle5 IContlnuo¢1 1.6 Invgstmentproperty Investment pioperty. which is property held lo oam rentals andlor foi capital appre(?alion. 1$ ini118lly recognised al cost, whlth includes the purchase cost and any directly attributablo experiditure. &Jbsequenlly it is measured at fair value at the reporting end dale. The surplus or deficit on revaluation is rerDgnised In profrt or105B. Incomé from donations and legacie¥ Unrestricted Unrestricted funds funds 2024 2023 Doffation8 and yrR5 - 77S,(XX) In¢om¢ from invesknents Unresmcted Unrestricted funds fund$ 2024 2023 Rental income.. 110,840 85,585 Expenditure On ralslng funds Unrestricted Unrestrlcted funds funds 2024 2023 Investment property runnlng costs investment property management and legal fees Investment propety rèpairs rinance costs 14,960 17,855 16,208 9,044 22,922 29,196 76,175 6,303 58,067 134,596
Draft Financial Statèments at 19 SeptsmbeT2024 at 13.-35-.41 THE JOHN STRUTT MEMORIAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditurè on eharftablo activltTos Unrestrlcted Unrestri¢tsd funds funds 2024 2023 Grant ffijnding of actmties Isee noto 61 21,820 3,632 Support 8,555 8,257 30,375 11,889 . support sts Incknde amounts payable in relalion to the independent examination of £.1.-75012023= £1,680) and £2,204 12023.. £2,250) in relation lo a¢¢ounlancy ¢erViS provided. Granls payabl• Unrestri¢l&d Unrestrlcted funds funds 024. 023- Grants to Instilulions.. Thè John Slnjtt Centre for Parrol Conservation 21,820 3,632 Trustees Three Truslew were reimbursed travel expenses totalling £171 during the currenl.y8ar and no remuneratlon 12023.. Trustees received no expenses or remuneralion). Employees The average monlhty number of empyeeS during the yearYra5." 2024 Number 2023 Number Total There were no employèes whose annual remunerath)n was more tharb £60.(X)O. Ga5n$ and 108ses on investm•nts Unrestrictèd Unrestrlcted lund¥ funds 2024 2023 Gainslllossesl arising on= Revaluation of investment prope¥ltes 370,607 154.172
Drdft Flnan¢lal Statements at 19 September 2024 at 13:35:41 THE JOHN STRUTT MEMORIAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Taxatlon The charity is exempt from tax on income and gains fallwbg within section 505 of Ihe Taxes Act 1988 or se¢tiDn 252 of the Taxalion of Ch8¥geable Gains Act 1992 to the oxtent that these are appfied lo its tharilablo objectiv6& 11 Invosfment property 2024 Falr valu• Al 1 April 2023 Addillons through extarnal acquistsn Nel galn$ or losses through faiT value adjusbnents 4,585,000 784,393 370,807 Al 31 March 2024 5,740,000 FUU valuations weTe undertak&n of all properties by ART & Associatès, an independonl RICS regislerad valuer, In 2018 after thè pioperties were gffted lo the charity. Thèse values were updated by the valuer as al ..31 Marckn 2023 tOllect.the latest.comparable market.data.Jhe.fair-values4re rnost-sensitive.tooomparabl&-..__ market prices In the local area. 12 Debtors 2024 2023 Amounts falllng due within one year. Other debtors repaymen 4,453 439 an accrue Ino)m& 8,C60 3,520 13 Loans and overdrafts 2024 2023 Other loans 100.LK)O 100,000 Payable wthit) one year Payable after one year 100,CX)O 100,000 Included wil?in borrowings is a loan from The Arthur StwttTestamentary Trust. The loan k8 $Ted by 8 flxed charye over one oflhe cb.arity's investment pioperties. Dunng the year ending March 2023: Ihe Tw5tees ofThÈArthur Strutt Testamentary Trust agreed lo extend the loan lo be repayable in August 2024. 10-
Draft Flnancial Statements at 19 September 2024 at 13:3S:41 THE JOHN STRUTT MEMORIAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Credltors: amounts falllng du• within one year 2024 2023 Borrowin9S Trade creditOTS Ac¢xuals and deferred income 100,000 1,193 15,577 1.557 14,848 116,77CI 16,405 16 Craditors: amounts tslllng due after moro than otte year 2024 2023 Borrowngs 100,000 16 Relatsd party trdn$a¢tlons DuTing the year the charity entered into the fdlowing transactTons w>th Idated parties". The charity In¢urrgd legal fees of £3,036 (2023.. £8,671) to Mccomiicks Solicitors, a flm In which Mr Peter McComiid( OBE, trustee, 15 a partner. The charty Incurred management fees and expenses of £19.15912023: £29.5411 to J G Hills, a fim3 in which Mr Richard de Robeck, a tsuslee. is a partner. Al 1he year end Ihere was an arnount owed to J G. Hills of The charty has a loaT7 from The Arthur SINIt Testameniary Trusl, a trjsl in which Mr RIGhard de Robeck, a Irusleè, is also a trustee. Al the year end Ihe outstanding balan w8s £11JO,00012023'. £100,000). Details ol the loan are induded in Nole 13. 11