COMPANY REGISTRATION NUMBER: 07637765 CHARITY REGISTRATION NUMBER: 1152336
Fernlea Community Pre-School Company Limited by Guarantee Unaudited Financial Statements
31 August 2023
TTCA LTD
Chartered accountants 269 Farnborough Road Farnborough Hampshire GU14 7LY
Fernlea Community Pre-School
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2023
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities (including income and | |
| expenditure account) | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 8 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 15 |
Fernlea Community Pre-School
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2023.
Reference and administrative details
Registered charity name Fernlea Community Pre-School Charity registration number 1152336 Company registration number 07637765 Principal office and registered Neville Duke Road office Farnborough Hampshire GU14 9BY
The trustees
MJ Harris MH Saunders AL Nolan (Appointed 22 November 2022) Dr SJ Berry C F Breen N A Cadec Independent examiner Thomas McManners BSc ACA ACMI 269 Farnborough Road Farnborough Hampshire GU14 7LY
Structure, governance and management
The charity is a company limited by guarantee and it is regulated by its governing document, the Memorandum and Articles of Association of Fernlea Community Pre-School.
The Committee
Fernlea Community Pre-School is run by a management committee who are company directors and charity trustees voted in by our members at the Annual General Meeting.
The management committee of Chair, Treasurer, Secretary and two others meet at least three times a year, being one each school term. Extra meetings are held as and when necessary, with communication by email on a regular basis.
None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of winding up.
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Fernlea Community Pre-School
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2023
Objectives and activities
The objects of the Pre-School are to enhance the development and education of children primarily under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups and by:-
Offering appropriate play, education and care facilities and training courses, together with the right of parents to take responsibility for and to become involved in the activities of such groups, ensuring that such groups offer opportunities for all children whatever their race, culture, religion, means or ability,
Encouraging the study of the needs of such children and their families and promoting public interest in and recognition of such needs,
- Instigating and adhering to and furthering the aims and objects of the Pre-school Learning Alliance.
The Trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity. Members of the public benefit from the provision of education facilities available in the community and the support the charity provides.
The Trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
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Fernlea Community Pre-School
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2023
Achievements and performance
Committee
We welcomed Amy Nolan as a new member of our Director/Trustee team as we said goodbye to our Chairperson Simon Berry. Amy was voted as our new Chairperson.
Staff
This year, Nadine Anzaka, who has worked with us for a few years in the kitchen, is now going to train for a full level 3 qualification and join our team as a practitioner. Training has been ongoing for staff both on face to face and virtually.
Children:
All the children happily returned to pre-school after the lovely Summer break we all enjoyed, and our new children quickly settled into the routines of pre-school.
Events:
The start of our school year saw the sad news that our Queen Elizabeth sadly passed away. In a mark of respect, we closed pre-school on the day of her Funeral, Monday 19th September 2022. This year also saw the passing of our founder, Audrey Greenway. Joy and Karen represented Fernlea Preschool at her funeral. Audrey had a great influence on the ethos of Fernlea and will always be remembered with great fondness. On a happier note, we held a very successful Christmas raffle this year and thank everyone for all the prize donations and purchasing the tickets. Thank you to Tasha, one of our Directors for kindly organising this for us. The children enjoyed a Christmas party, with the all important visit from Father Christmas. To celebrate the Coronation of Charles III, we had afternoon tea for all the children tea over 3 days leading up to the coronation on Saturday 6th May 2023. The children all made a crown to wear, and were given a commemorative disc to mark the occasion. At the end of the school year we held a 'Teddy Bear's Picnic' party for our younger children returning to us in September. The children leaving us to go to school were treated to our "Leaver's Mini Prom.' The staff work really hard to transform the entrance hall and classroom into a magical party room using voiles, lights, chair covers and table decorations. The children are served food by the staff and join in with party games and dancing. A special time spent with the children before they start their new journey into 'big school. Three members of our team, Karen, Shannon and Tasha, bravely took on a sponsored Sky Dive during the August holidays to raise funds towards our new outside building. They were supported by staff and friends and after a very windy start to the day, they finally made their jump about 7p.m. when the winds eased, and thoroughly enjoyed it. We are happy to report they raised £2,000, a great achievement. Part of this income will be received in the coming year.
Other work:
The children have enjoyed using our wooded area at the bottom of the playground, using sticks and other items to build with, pretend fishing rods, using different media to mark make with, looking at story books sitting on logs, rolling down the slope, climbing trees and much more. Having watched how they use it, we have decided to make some changes to make it even more challenging and creative.
Following the erection of new fencing to enhance our safeguarding, we have a new tarmac pathway through the new gated entrance.
We are pleased to report Ofsted re-visited us in January and the overall result was GOOD.
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Fernlea Community Pre-School
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2023
The future:
The long awaited installation of our outside building is, sorry to say, still ongoing. We have many hurdles to jump with satisfying the authorities and have now employed an architect to help us through building control. Happy to report we are hoping this is now all in hand and look forward to hearing favourable results in the not too distant future. We are wanting to use this space as a second area for the children to use, giving more opportunity for focused work.
Financial review
During the year there was an deficit of income over expenditure amounting to £5,233 compared with an deficit of income over expenditure of £30,306 in 2022. As at 31 August 2023, the reserves of the charity stood at £163,345, compared with £168,578 in 2022.
Policies on reserves
The Trustees have examined the requirement for free reserves, being unrestricted funds which are not represented by tangible fixed assets and which are designed for specific purposes or otherwise committed. It is the charity's policy to hold reserves covering 3 months of ordinary expenditure with the remaining reserves held for future enhancement of nursery facilities.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 15 November 2023 and signed on behalf of the board of trustees by:
MJ Harris AL Nolan Trustee Trustee
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Fernlea Community Pre-School
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Fernlea Community PreSchool
Year ended 31 August 2023
I report to the trustees on my examination of the financial statements of Fernlea Community PreSchool ('the charity') for the year ended 31 August 2023.
Responsibilities and basis of report
As the trustees of the company (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 accounts of the company 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 accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the 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:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
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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
-
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 accounts to be reached.
Thomas McManners BSc ACA ACMI Independent Examiner
269 Farnborough Road Farnborough Hampshire GU14 7LY
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Fernlea Community Pre-School
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2023
| 2023 | 2023 | 2022 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 2,906 | 2,906 | 620 |
| Charitable activities | 6 | 235,006 | 235,006 | 233,847 |
| Other trading activities | 7 | 1,497 | 1,497 | 425 |
|
|
|
||
| Total income | 239,409 | 239,409 | 234,892 | |
|
|
|
||
| Expenditure | ||||
| Expenditure on charitable activities | 8,9 | 244,642 | 244,642 | 265,198 |
|
|
|
||
| Total expenditure | 244,642 | 244,642 | 265,198 | |
|
|
|
||
|
|
|
||
| Net expenditure and net movement in funds | (5,233) | (5,233) | (30,306) | |
|
|
|
||
| Reconciliation of funds | ||||
| Total funds brought forward | 168,578 | 168,578 | 198,884 | |
|
|
|
||
| Total funds carried forward | 163,345 | 163,345 | 168,578 | |
|
|
|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 13 form part of these financial statements.
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Fernlea Community Pre-School
Company Limited by Guarantee
Statement of Financial Position
31 August 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 14 | 11,200 | 14,933 | |
| Current assets | ||||
| Stocks | 15 | 258 | 700 | |
| Debtors | 16 | 5,652 | 11,225 | |
| Cash at bank and in hand | 158,792 | 155,852 | ||
|
|
|||
| 164,702 | 167,777 | |||
| Creditors: amounts falling due within one year | 17 | 12,557 | 14,132 | |
|
|
|||
| Net current assets | 152,145 | 153,645 | ||
|
|
|||
| Total assets less current liabilities | 163,345 | 168,578 | ||
|
|
|||
| Net assets | 163,345 | 168,578 | ||
|
|
|||
| Funds of the charity | ||||
| Unrestricted funds | 163,345 | 168,578 | ||
|
|
|||
| Total charity funds | 19 | 163,345 | 168,578 | |
|
|
For the year ending 31 August 2023 the charity 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 15 November 2023, and are signed on behalf of the board by:
MJ Harris Trustee
The notes on pages 8 to 13 form part of these financial statements.
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Fernlea Community Pre-School
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Neville Duke Road, Farnborough, Hampshire, GU14 9BY.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.(a) No cash flow statement has been presented for the company.(b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Fernlea Community Pre-School
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and - 25% reducing balance machinery/Equipment
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
The charity is a company limited by guarantee. 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.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | – | – | 100 | 100 |
| Grants | ||||
| Other covid grants receivable | – | – | 520 | 520 |
| Grants receivable | 2,906 | 2,906 | – | – |
|
|
|
|
|
| 2,906 | 2,906 | 620 | 620 | |
|
|
|
|
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Fernlea Community Pre-School
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
6. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Sale of goods/services as part of direct | ||||
| charitable activities | 57,247 | 57,247 | 58,337 | 58,337 |
| Disability Access fund income | 1,656 | 1,656 | – | – |
| Income from uniform sale | 1,143 | 1,143 | 964 | 964 |
| Payments from governments or public | ||||
| authorities | 172,926 | 172,926 | 174,546 | 174,546 |
| Special educational needs income | 2,034 | 2,034 | – | – |
|
|
|
|
|
| 235,006 | 235,006 | 233,847 | 233,847 | |
|
|
|
|
| 7. | Other trading activities | ||||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Fundraising events | 1,497 | 1,497 | 425 | 425 | |
|
|
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||
| 8. | Expenditure on charitable activities | by fund type | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Providing pre-school education | 241,998 | 241,998 | 262,708 | 262,708 | |
| Support costs | 2,644 | 2,644 | 2,490 | 2,490 | |
|
|
|
|
||
| 244,642 | 244,642 | 265,198 | 265,198 | ||
|
|
|
|
||
| 9. | Expenditure on charitable activities | by activity type | |||
| Activities | |||||
| undertaken | Total funds | Total fund | |||
| directly Support costs | 2023 | 2022 | |||
| £ | £ | £ | £ | ||
| Providing pre-school education | 241,998 | – | 241,998 | 262,708 | |
| Governance costs | – | 2,644 | 2,644 | 2,490 | |
|
|
|
|
||
| 241,998 | 2,644 | 244,642 | 265,198 | ||
|
|
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| 10. | Net expenditure | ||||
| Net expenditure is stated after charging/(crediting): | |||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 3,733 | 4,978 | |||
|
|
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Fernlea Community Pre-School
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
11. Independent examination fees
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 1,896 | 1,806 |
|
|
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 180,171 | 195,619 |
| Social security costs | 7,675 | 8,828 |
| Employer contributions to pension plans | 2,790 | 2,931 |
|
|
|
| 190,636 | 207,378 | |
|
|
The average head count of employees during the year was 11 (2022: 11). The average number of full-time equivalent employees during the year is analysed as follows:
| 2023 | 2022 | |
|---|---|---|
| No. | No. | |
| Number of production staff | 10 | 10 |
| Number of administrative staff | 1 | 1 |
|
|
|
| 11 | 11 | |
|
|
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
13. Trustee remuneration and expenses
Two trustees have been paid remuneration from employment with the charity. MJ Harris and MH Saunders received employment income totalling £46,729 (2022: £49,736) . Company pension contributions were made on behalf these trustees of £308 (2022: £320).
14. Tangible fixed assets
| Equipment | Total | |
|---|---|---|
| £ | £ | |
| Cost | ||
| At 1 Sep 2022 and 31 Aug 2023 | 92,457 | 92,457 |
|
|
|
| Depreciation | ||
| At 1 Sep 2022 | 77,524 | 77,524 |
| Charge for the year | 3,733 | 3,733 |
|
|
|
| At 31 Aug 2023 | 81,257 | 81,257 |
|
|
|
| Carrying amount | ||
| At 31 Aug 2023 | 11,200 | 11,200 |
|
|
|
| At 31 Aug 2022 | 14,933 |
14,933 |
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Fernlea Community Pre-School
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
15. Stocks
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Raw materials and consumables | 258 | 700 | |
|
|
||
| 16. | Debtors | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Trade debtors | 2,626 | 10,130 | |
| Prepayments and accrued income | 3,026 | 1,095 | |
|
|
||
| 5,652 | 11,225 | ||
|
|
||
| 17. | Creditors: amounts falling due within one year | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Accruals and deferred income | 10,883 | 12,077 | |
| Social security and other taxes | 1,305 | 1,810 | |
| Other creditors - Pension | 369 | 245 | |
|
|
||
| 12,557 | 14,132 | ||
|
|
18. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,790 (2022: £2,931).
19. Analysis of charitable funds
Unrestricted funds
| At | ||||||
|---|---|---|---|---|---|---|
| At | 1 | Sep 2022 | Income | Expenditure | 31 Aug 2023 | |
| £ | £ | £ | £ | |||
| General funds | 168,578 | 239,409 | (244,642) | 163,345 | ||
|
|
|
|
|||
| At | ||||||
| At | 1 | Sep 2021 | Income | Expenditure | 31 Aug 2022 | |
| £ | £ | £ | £ | |||
| General funds | 198,884 |
234,892 |
(265,198) |
168,578 |
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Fernlea Community Pre-School
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
20. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2023 | |
| £ | £ | |
| Tangible fixed assets | 11,200 | 11,200 |
| Current assets | 164,702 | 164,702 |
| Creditors less than 1 year | (12,557) | (12,557) |
|
|
|
| Net assets | 163,345 | 163,345 |
|
|
|
| Unrestricted | Total Funds | |
| Funds | 2022 | |
| £ | £ | |
| Tangible fixed assets | 14,933 | 14,933 |
| Current assets | 167,777 | 167,777 |
| Creditors less than 1 year | (14,132) | (14,132) |
|
|
|
| Net assets | 168,578 | 168,578 |
|
|
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Fernlea Community Pre-School
Company Limited by Guarantee
Management Information Year ended 31 August 2023
The following pages do not form part of the financial statements.
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Fernlea Community Pre-School
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 August 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | – | 100 |
| Other covid grants receivable | – | 520 |
| Grants receivable | 2,906 | – |
|
|
|
| 2,906 | 620 | |
|
|
|
| Charitable activities | ||
| Sale of goods/services as part of direct charitable activities | 57,247 | 58,337 |
| Disability Access fund income | 1,656 | – |
| Income from uniform sale | 1,143 | 964 |
| Payments from governments or public authorities | 172,926 | 174,546 |
| Special educational needs income | 2,034 | – |
|
|
|
| 235,006 | 233,847 | |
|
|
|
| Other trading activities | ||
| Fundraising events | 1,497 | 425 |
|
|
|
|
|
|
| Total income | 239,409 | 234,892 |
|
|
|
| Expenditure | ||
| Expenditure on charitable activities | ||
| Purchases | 8,441 | 10,636 |
| Wages and salaries | 180,171 | 195,619 |
| Employer's NIC | 7,675 | 8,828 |
| Pension costs | 2,790 | 2,931 |
| Rent | 13,317 | 16,754 |
| Rates and water | 616 | 761 |
| Light and heat | 2,162 | 2,447 |
| Repairs and maintenance | 13,733 | 8,980 |
| Insurance | 3,193 | 3,797 |
| Legal and professional fees | 1,962 | 1,872 |
| Telephone | 988 | 993 |
| Other office costs | 1,490 | 2,284 |
| Depreciation | 3,733 | 4,978 |
| Other interest payable and similar charges | 682 | 618 |
| Staff welfare and training | 150 | 517 |
| Bank charges | 1,025 | 1,074 |
| Professional Subscriptions | 1,371 | 1,145 |
| Uniform | 1,143 | 964 |
|
|
|
| 244,642 | 265,198 | |
|
|
|
|
|
|
| Total expenditure | 244,642 |
265,198 |
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Fernlea Community Pre-School
Company Limited by Guarantee
Detailed Statement of Financial Activities (continued)
Year ended 31 August 2023
2023 2022 £ £ Net expenditure (5,233) (30,306)
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