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2023-08-31-accounts

Box Tale Soup Limited

(a company limited by guarantee)

ANNUAL REPORT

AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDING AUGUST 31st 2023

Registered Charity No. 1149715 Company No. 8171401

Box Tale Soup Limited Annual Report and Financial Statements For the Year Ended 31st August 2023

INDEX

Company information - 1

Trustees and directors report - 2-7

Independent examiner's report - 8-9

Statement of financial activities - 10

Balance sheet - 11

Notes to the financial statements – 12-15

Registered Charity No. 1149715 Company No. 8171401

Box Tale Soup Limited Company Information

For the Year Ended 31st August 2023

TRUSTEES

The directors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees serving during the year were as follows:

Charlotte Couchman Gillian Fenner Bruce Harris Gina Hartnett - Appointed 17th May ‘23 Peter Hayward - Resigned 17th May ‘23 Francis Matthews

COMPANY

Noel Byrne - Artistic Director Antonia Byrne - Artistic Director

REGISTERED OFFICE

8 Coombe Road, Otford, Kent, TN14 5RJ

PRINCIPAL PLACE OF BUSINESS

7 Park Place, Sevenoaks, Kent, TN13 2QD

INDEPENDENT EXAMINER

Dr. Erik J. Pickett PhD FIA CERA

123 Tidewater Street, Apt C, Jersey City, NJ 07302, USA

BANKERS

The Co-operative Bank PLC

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Box Tale Soup Limited Trustees and Directors Report For the Year Ended 31st August 2023

The trustees are pleased to present their annual report together with the consolidated financial statements of the charity for the year ending 31st August 2023, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

STATUS AND ADMINISTRATION

The Company is a registered charity and a company limited by guarantee and is governed by its Memorandum and Articles of Association. None of our trustees receive remuneration or other benefit from their work with the charity.

CHARITABLE OBJECTIVES & PRINCIPAL ACTIVITIES

Its charitable objectives are to advance the education for the public benefit by the promotion of the arts, with particular, but not exclusive, reference to dramatic art. Box Tale Soup achieves its charitable objectives through its principal activities. It exists to produce fresh, original and highly imaginative theatre with a commitment to the faithful adaptation of classic literature. In particular, the company seeks to make work that is portable and flexible in order that it may reach audiences who would not normally have access to professional theatre.

In addition, the company operates an education programme: introducing participants to the company's methods of creating theatre.

TRUSTEES RECRUITMENT AND APPOINTMENT

The trustees who served during the year are listed on page one of the annual report.

New trustees are appointed in General Meetings.

TRAINING AND INDUCTION OF NEW TRUSTEES

New trustees are briefed on their legal obligations under charity and company law, the Charity Commission guidance on public benefit, content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity. During this briefing they meet key staff and other trustees.

ORGANISATION

The board of trustees administers the charity and meets quarterly. The artistic directors of the company have been appointed by the trustees to manage the day-to-day operations of the charity. To facilitate effective operations, the artistic directors have authority, within terms of delegation approved by the trustees, for operational matters including finance, employment and artistic performance related activity.

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Box Tale Soup Limited Trustees and Directors Report For the Year Ended 31st August 2023

Achievements

During this year we re-worked our 2014 adaptation of M. R. James’ Casting the Runes with a much more impressive transforming set, new puppets and a new original score. We did 92 performances of various productions to a total of over 7,600 people. It was clear that the touring theatre audience still hadn’t confidently returned, although the family theatre audience was noticeably stronger. Having taken a much larger capacity venue at the Edinburgh Fringe, we were thrilled to see that the audience had increased there. Our online presence has continued to grow again, although platforms like Instagram are proving much harder to achieve organic reach, with Meta pushing paid advertising on all its platforms. We have over 4,500 followers across Instagram and Facebook, over 600 subscribers on YouTube, and have begun to build a TikTok profile with our introductory video reaching over 31k views. Our Casting the Runes audio drama has now had over 14k plays on YouTube. Gulliver Exploded is also reaching new audiences and has been played to care home residents who would not normally have access to live theatre.

Gulliver & The Wind in the Willows Autumn ‘22 & Spring ‘23 UK Tour

Having last toured very successfully in 2018, we decided The Wind in the Willows would make an excellent family show to tour alongside Gulliver . As always, we find it important to tour a family show in partnership with the adult offering in order to ensure the tour breaks even as a whole. This was particularly useful as Gulliver proved a tricky show to sell. It appeared the largest barrier was the misconception that it is a children’s book, so consequently audiences were left confused with the offering of that title as an evening show. However, that’s not to say it did poorly overall and in fact we had some lovely full houses in a couple of new venues to the company. We also continued to receive glowing feedback for the show - here are some examples:

“...it was brilliant! It brought an old childhood favourite to life and the message in the stories are still or maybe especially relevant to our modern society. Perfect for adults and kids alike, so definitely go and see it!”

“I've constantly astounded by @BoxTaleSoup choice of stories - Gulliver is for me the biggest and boldest out of all their adaptations (I've seen 10/14 of their tales) & for me it's because of the freedom of enjoyment when creating worlds & ingenious puppetry”

“Gulliver was the most amazing show. I couldn't for the life of me figure out how you were going to do it with just three of you but you did so seamlessly. Your use of the few props you had created was simply ingenious and I so love the way you appear to inhabit the puppets.”

“Amazing production. Enjoyed the show in Norwich last night. Satire so relevant even after all these years”

The feedback we received has made us determined to give the show another outing, but the sales showed that we would need to re-think the marketing in order to convince people to buy tickets - when they do, they love it!

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Box Tale Soup Limited

Achievements cont.

Trustees and Directors Report

For the Year Ended 31st August 2022

The Wind in the Willows sold very well again and is clearly still very much a family favourite. There will definitely be further opportunities for this show in the future. Here are a few examples of the tour feedback:

“I took my children (8 and 4) to see Wind in the Willows today. We were all thoroughly entertained and amazed by the puppetry and use of props. A really wonderful show for all the family.”

Overall we did 59 performances in 32 different venues including 12 brand new venues for the company.

Gulliver at The William Andrews Clark Memorial Library, UCLA

In October 2022 we visited the Clark Memorial Library who originally commissioned Gulliver’s Travels . The production was very well received by all staff and donors at the Library and we received fantastic feedback. We also performed extracts from the show and delivered a series of workshops to students from the Geffen Academy, which is a UCLA affiliated school. These were well received and included an introduction to puppetry, design and adaptation for the stage. We hope to return to the Clark in the future and perhaps collaborate with them again. Below are some photographs taken at the Clark along with a couple of examples of the student’s feedback:

“I really enjoyed the entirety of the trip, and I loved the excerpts that we got of the play. Makes me wish we saw the whole thing!”

“I think the Box Tale Soup Company's creativity is very admirable and is a level of creativity that I dream one day of reaching.”

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Box Tale Soup Limited Trustees and Directors Report For the Year Ended 31st August 2023

Achievements cont.

A Christmas Carol & Hansel & Gretel at The Exchange, Twickenham

This year we took A Christmas Carol and Hansel and Gretel to the Exchange theatre in Twickenham for a couple of performances. Both shows did reasonably well in this larger venue, although it was a struggle to sell tickets for both, as the venue itself does not have an established audience at all. The audience (particularly for A Christmas Carol ) was therefore made up exclusively of people who had seen or heard of Box Tale Soup, which was gratifying as the Saturday houses for both shows were very good. We are due to return to this venue with the same two shows a little later in December 2023 and hope to build on this initial visit. Hansel & Gretel is also booked into The Stables, Milton Keynes for a week of shows just before Christmas.

Gulliver on Cunard’s iconic Queen Mary 2

While in Edinburgh the entertainment booker for Cunard voyages saw Gulliver and subsequently booked it for performances on board the Queen Mary 2. We did 3 performances and 3 workshops on board and had wonderful feedback, including many people who liked the show so much they came to see it more than once! One of the main comments we received was how lovely it was to have something so different on offer as part of the live entertainment programme. It was a bit of an experiment for Cunard, having something like our shows on board, and the feedback was so positive they have asked us to do more voyages in the future.

Gulliver in Illuminations on board the Queen Mary 2

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Box Tale Soup Limited Trustees and Directors Report For the Year Ended 31st August 2023

Achievements cont.

Casting the Runes at the Edinburgh Fringe

Having sold out the 60 seat venue at Underbelly on multiple occasions we decided it was time to change venues at the Fringe and go for a much larger capacity. This year we moved to Pleasance at their original Courtyard venue in Above - capacity 146. We revamped our adaptation of Casting the Runes, as we know from past experience that ghost stories tend to sell well, and we were not disappointed. The show did fantastically well, selling out multiple times during the run and selling over 2,600 tickets (76% of the total capacity). The show received eight 5 Star reviews and seven 4 Star reviews, along with incredible audience feedback. Here is a sample:

★★★★★ The Skinny “Performed exquisitely...a wonder to see.”

★★★★★ The Wee Review “..powerhouse acting…you’ll curse yourself if you miss it.”

★★★★★ GetYourCoatsOn “..haunting and foreboding...go see this!”

★★★★★ British Theatre Guide “..captivatingly fun and genuinely chilling..”

★★★★★ BroadwayWorld “..a simply exquisite piece of theatre..”

“Absolutely stunning. Brilliant from Box Tale Soup, as ever. Beautiful puppetry, creative witty staging, and wonderfully scary. Definitely one of the best things I've seen at the Fringe. 100% recommended.”

“Everything about this production is spot on. The music, sound, sets and acting. Loved the atmosphere created and the way they choreograph their movements along with the change of sets is a masterpiece as is the puppetry. A great ghost story, acted brilliantly with a well created atmosphere. Go and see you won't be disappointed.”

“Superb performances from both actors and sound and light do a first rate Job in setting atmosphere, coupled with an inventive and ingenious set that becomes a whole world of things. Just 2 actors, yes but alongside them are a plethora of amusing and eerie characters brought to life in puppet form. I could go on and on but suffice to say, this is a 5 star show. If you like gothic or indeed theatre, you won't be disappointed. Catch it asap!”

We went paperless again for the entire fringe, but we did employ a PR company for the first time to assist us with the significant change in venue capacity. We noticed that we had more reviewers and that they came earlier on in the run as a result of having PR. Going paperless went very well again as it encouraged our audiences to spread the word about the show.

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Box Tale Soup Limited

Trustees and Directors Report For the Year Ended 31st August 2023

FINANCIAL REVIEW & RISKS AND RESERVE POLICY

The company's total resources expended for the year were: £77,489.23. The trustees have identified the main risks facing the charity, both financial and operational. They have instigated appropriate measures to mitigate those risks.

The trustees intend to keep the level of unrestricted reserves, not invested in fixed assets, to approximately three to six months operating costs (£20k-£30k). The trustees believe that this would be a sufficient buffer against short-term problems arising and to allow the Company to develop artistically. As at August 31st 2023 the free reserves stood at £30,586.47.

The free reserves are at a lower level than last year due to a continued return to normal operation following the disruption of the pandemic, an increased expenditure on Fringe activities, and no specific project funding being received. Income from Fringe activities and other touring saw a resulting increase, but this will be seen in the following financial year (2023-2024).

TRUSTEES RESPONSIBILITIES (in relation to the financial statements)

Company law and the law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing the financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011 and amendments in Charities Act 2022, and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

By order of the trustees

Gillian Fenner (Chair of Board of Trustees)

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BOX TALE SOUP LIMITED COMPANY LIMITED BY GUARANTEE

INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF BOX TALE SOUP LIMITED

PERIOD FROM 1 SEPTEMBER 2022 TO 31 AUGUST 2023

I report on the account of the company for the period from 1 September 2022 to 31 August 2023.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The trustees (who are also board members of Box Tale Soup Limited for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the company is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

BASIS OF INDEPENDENT EXAMINER'S REPORT

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the company and a comparison of the account presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

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BOX TALE SOUP LIMITED COMPANY LIMITED BY GUARANTEE

INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF BOX TALE SOUP LIMITED (continued)

PERIOD FROM 1 SEPTEMBER 2022 TO 31 AUGUST 2023

INDEPENDENT EXAMINER'S STATEMENT

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in any material respect the requirements:

  2. to keep accounting records in accordance with section 386 of the Companies Act 2006; and

  3. to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities SORP (FRS 102).

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Erik Pickett PhD FIA CERA 123 Tidewater Street, Apt C, Jersey City, NJ 07302, USA 16th May 2024

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BOX TALE SOUP LIMITED COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)

PERIOD FROM 1 SEPTEMBER 2022 TO 31 AUGUST 2023

INCOMING RESOURCES
Note
Incoming Resources from generating funds:
Voluntary Income
-
2
Activities for generating funds
-
3
Investment Income
-
4
TOTAL INCOMING RESOURCES:
RESOURCES EXPENDED
Charitable Activities
-
5
Raising Funds
-
6
TOTAL RESOURCES EXPENDED:
NET INCOME (OUTGOING) FOR PERIOD:
7
RECONCILIATION OF FUNDS
Cash at bank
-
Tangible Assets
-
Total funds brought forward
-
TOTAL FUNDS CARRIED FORWARD
2023 Total (£)
7,108.60
46,361.88
Nil
_
53,470.48
(77,489.23)
(Nil)
___
(77,489.23)
(24,018.75)
(01/09/22)
54,485.22
120
54,605.22
(31/08/23)_
30,586.47
2022 (£)
19,309.01
65,784.89
Nil
_
85,093.90
(75,483.12)
(258.63)
_________
(75,741.75)
9,352.15
(01/09/21)
45,133.07
120
45,253.07
(31/08/22)_
54,605.22

The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

The notes on pages 12 to 15 form part of these financial statements.

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BOX TALE SOUP LIMITED COMPANY LIMITED BY GUARANTEE

BALANCE SHEET

31 AUGUST 2023

Note
FIXED ASSETS
Tangible Assets
-
9, 1
CURRENT ASSETS
Cash at Bank
-
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
FUNDS
Unrestricted income funds
-
10
Restricted income funds
-
11
TOTAL FUNDS
31 August 2023 (£)
2,241.46
28,345.01
30,586.47
30,586.47
30,586.47
Nil
30,586.47
2022 (£)
120
54,485.22
54,605.22
54,605.22
44,605.22
10,000
54,605.22

For the period from 1 September 2022 to 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476 of the Companies Act 2006; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements were approved by members of the board and authorised for issue on the 14th May 2024, and are signed by:

GILLIAN FENNER Director

Company Registration Number: 8171401

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BOX TALE SOUP LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 1 SEPTEMBER 2022 TO 31 AUGUST 2023

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards and the requirements of the Charities SORP FRS 102 (effective 1 January 2015), FRS 102 (September 2015) and the Charities Act 2011.

The charity is a Public Benefit Entity as defined by FRS 102. The trustees have taken advantage of the exemption in FRS 102 from including a cash flow statement in the financial statements on the grounds that the charity is a small entity. All fixed assets are initially recorded at cost.

These Financial Statements for the year ending 31 August 2023 are the sixth Financial Statements of Box Tale Soup Limited (Limited by guarantee) prepared in accordance with FRS 102.

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. Therefore the trustees continue to adopt the going concern basis of accounting in preparing the Financial Statements.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Equipment: (Initial cost – salvage value) / 5 year life = depreciation (£1,735 - £120) / 5 = £323 (879.33 - £30) / 5 = £169.87 £492.87

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, the income has been received and the amount can be measured reliably

Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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BOX TALE SOUP LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 1 SEPTEMBER 2022 TO 31 AUGUST 2023

2. VOLUNTARY INCOME

Donations
Grants
Gift Aid
Restricted (£)
Nil
Nil
Nil
Nil
Unrestricted (£)
Total Funds 2023 (£)
2022 Total (£)
2,108.60
2,108.60
3,059.01
5,000
5,000
16,250
Nil
Nil
Nil
7,108.60
7,108.60
19,309.01

3. INCOMING RESOURCES FROM ACTIVITIES FOR GENERATING FUNDS

Unrestricted Funds (£) Total Funds 2023 (£) 2022 Total (£)
Performance fees 25,050 25,050 39,525
Performance tickets 18,006.28 18,006.28 13,232.57
Workshop fees Nil Nil Nil
Commission payments Nil Nil 10,000
Reimbursement and Refunds
3,305.60
3,305.60 3,027.32
46,361.88 46,361.88 65,784.89

4. INVESTMENT INCOME

Unrestricted Funds (£) Total Funds 2023 (£) 2022 Total (£) Bank interest receivable Nil Nil Nil

5. BREAKDOWN OF COSTS OF CHARITABLE ACTIVITIES

Restricted
Funds (£)
Unrestricted
Funds (£)
Total Funds
2023 (£)
2022 Total (£)
Productions and
workshops
6,950.73 14,857.11 21,807.84 24,945.34
Equipment (incl.
Depreciation)
Nil 1,271.30 1,271.30 1,408.39
Office, web,
expenses, print/post
Nil 3,508.97 3,508.97 3,081.24
Fees (performance,
production)
3,049.27 47,851.85 50,901.12 46,048.15
Fees (admin) Nil Nil Nil Nil
10,000 67,489.23 77,489.23 75,483.12

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BOX TALE SOUP LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 1 SEPTEMBER 2022 TO 31 AUGUST 2023

6. RAISING FUNDS

Unrestricted Funds (£) Total Funds 2023 (£) 2022 Total (£)
Travel Nil Nil 27.80
Postage and Materials Nil Nil Nil
Food and Drink Nil Nil 230.83
Nil Nil 258.63

7. NET INCOME FOR THE PERIOD

This is stated after charging: Depreciation Period from 1 September 2022 to 31 August 2023 (£) £492.87

Although the outgoing sum of £24,018.23 may seem unusually high, it is accounted for by the expenditure of £10,000 of Genesis Kickstart Fund grant, and increased Edinburgh Fringe costs of around £15,000, which was recouped plus profit when Fringe payouts arrived. Reserves at 31st August 2023 remain at an acceptable level.

8. STAFF COSTS

No salaries or wages have been paid to employees or members of the committee during the period. All individuals employed by the charity were contracted on a freelance basis in this financial year.

9. TANGIBLE FIXED ASSETS

GIBLE FIXED ASSETS
Equipment (£)
BROUGHT FORWARD
At 1 September 2022 120
COST
Additions 2,614.33
At 31 August 2023 2,614.33
DEPRECIATION
Charge for the period (see note 1) 492.87
At 31 August 2023 492.87
NET BOOK VALUE
At 31 August 2023 2,241.46

10. UNRESTRICTED INCOME FUNDS

Balance 1/9/22 (£) Income (£) Expenditure (£) Balance 31/8/23 (£) General Funds 44,605.22 53,470.48 (67,489.23) 30,586.47

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11. RESTRICTED INCOME FUNDS

In the previous financial year (2012-22), Box Tale Soup received a £10,000 grant from the Genesis Kickstart Fund to create an interactive filmed version of Gulliver . Work on this project began in September 2022 and was completed in March 2023, with the grant being spent as planned.

Balance 1/9/22 (£) Income (£) Expenditure (£) Balance 31/8/23 (£) General Funds 10,000 Nil (10,000) Nil

12. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets (£) Current assets (£) Total(£) Restricted Income Funds 0 Nil Nil Unrestricted Income Funds 2,241.46 28,345.01 30,586.47 Total Funds 2,241.46 28,345.01 30,586.47

13. COMPANY LIMITED BY GUARANTEE

The liability of each member under the terms of their guarantee is limited to £10.

TAXATION

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

TRUSTEE AND RELATED PARTY TRANSACTIONS

None of the trustees have been paid any remuneration or received any other benefits in relation to his or her services as a trustee of the charity. No trustee expenses have been incurred. There have been no related party transactions requiring disclosure in the reporting period. Donations received without conditions from related parties, including Trustees, in the year totalled £135 (2021-2022: £2,500).

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