RENAISSANCE PUBLISHING A company limited by guarantee
RENAISSANCE PUBLISHING (A company limited by guarantee)
Annual Report and Accounts
For the year ended 31 July 2022 Registered Charity Number: 1152871 Company Number: 04245529
RENAISSANCE PUBLISHING A company limited by guarantee
| Page | |
|---|---|
| Trustees’ Annual Report | 1-3 |
| Independent Examiner’s Report | 4 |
| Statement of Financial Activities (including the income and expenditure account) | 5 |
| Balance Sheet |
6 |
| Notes to the Financial Statements | 7 - 12 |
RENAISSANCE PUBLISHING A company limited by guarantee
Legal and Professional Information
Registered Charity Number:
1152871
Company Number:
04245529
Governing Document
Articles of Association
President
David Dangoor
Trustees
Ian Lancaster Chair Martin Motz Brian Harris Treasurer Judy Weleminsky (Resigned 10 August 2022) Lady Collins Patti Langton David Benmayer Andrew Gordon (Appointed 21 February 2022)
Chairman
Ian Lancaster
Chief Executive
Aviva Dautch
Secretary
Lorraine Sheridan (Appointed 10 August 2022) Judy Weleminsky (Resigned 10 August 2022)
Registered Office
353 - 359 Finchley Road London NW3 6ET
Independent Examiner
WSM Advisors Limited Connect House 133-137 Alexandra Road Wimbledon London SW19 7JY
Bankers
CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
RENAISSANCE PUBLISHING A company limited by guarantee
TRUSTEES’ ANNUAL REPORT For the Year ended 31 July 2022
The trustees, who are also directors, present their Annual Report together with the Financial Statements For the Year ended 31 July 2022. 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 charitable company'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)".
Reference and Administrative Details
Renaissance Publishing is a company limited by guarantee (registration number 04245529) and is registered by the Charity Commission under registration number 1152871.
Structure, Governance and Management
Renaissance Publishing is a registered charity and company limited by guarantee. Renaissance Publishing is governed by its Memorandum and Articles of Association and by the regulations of the Charity Commission and Company Law.
The following trustees (who are also the directors of the company for the purposes of company law) have held office since 1 August 2021 except as indicated:
Ian Lancaster Martin Motz Judy Weleminsky (Resigned 10 August 2022) Brian Harris Lady Collins Patti Langton David Benmayer Andrew Gordon (Appointed 21 February 2022)
Renaissance Publishing governance structure consists of the Board of Trustees. The Trustees may also from time to time appoint sub committees and they also appoint the Company Secretary. The Board of Trustees direct the affairs of Renaissance Publishing, provide leadership, fulfil their fiduciary duty and are involved in the endorsement of policy and in monitoring its implementation. The Board meets quarterly.
The trustees may appoint a person who is willing to act to be a trustee either to fill a vacancy or as an additional trustee provided that the appointment does not cause the number of trustees to exceed any number fixed by or in accordance with the articles as the maximum number of trustees. A trustee so appointed shall hold office only until the next following annual general meeting and shall not be taken into account in determining the trustees who are to retire by rotation at the meeting. If not reappointed at such annual general meeting, he or she shall vacate office at the conclusion thereof. No person other than a trustee retiring by rotation may be appointed or re-appointed as a trustee at any general meeting unless:
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(1) he or she is recommended by the trustees; or
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(2) no fewer than fourteen (14) nor more than thirty-five (35) days before the date of the meeting, the charity is given a notice that:
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(a) is signed by a member entitled to vote at the meeting;
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(b) states the member’s intention to propose the appointment of a person as a trustee;
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(c) contains the details that, if the person were to be appointed, the charity would have to file at Companies House; and
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(d) is signed by the person who is to be proposed to show his or her willingness to be appointed.
On appointment to the board the trustees receive the Renaissance Publishing Governance Handbook which outlines the structure and responsibilities of the Trustees and the Mission and Policy Statement.
Where a gap in trustee expertise is identified at a trustee meeting the Board of Trustees recruits a new trustee. The requirement is advertised within the subscription list of Renaissance Publishing and externally. A sub committee interviews a short list of applicants and their proposed choice is ratified by the Board of Trustees.
Page 1 of 12
RENAISSANCE PUBLISHING
A company limited by guarantee
TRUSTEES’ ANNUAL REPORT (cont.) For the Year ended 31 July 2022
Objectives and Activities
The objectives of Renaissance Publishing are to advance the education of the public on issues related to Jewish culture, arts, heritage, history, religion and community by promoting, publishing and distributing literature, publications, articles and information and by organising educational and cultural activities including lectures, discussions, learning events and cultural and educational tours.
The main activity is the production and distribution of Jewish Renaissance magazine and Renaissance Publishing also runs events and tours.
Public Benefit
The Trustees have adhered to the Charity Commission’s guidance on public benefit. Renaissance Publishing is a major disseminator of Jewish culture to the Jewish and wider community. This is achieved by publication of a quarterly magazine with articles and comprehensive UK & international listings that is freely available through our website and social media channels. We also engage the public with our events and UK and overseas tours.
Achievements and Performance
An Excellent 20th Anniversary
During our 20th year we have strengthened our team, run a successful fund-raising campaign, enjoyed a wonderful garden party and celebrated our achievements, while importantly building for the future.
The 20th Anniversary celebration weekend raised over £70,000, thanks to the hard work of our trustees, our staff and the generosity of supporters. This restored our reserves and allows us to pursue new projects. Thank you to everyone who made this possible.
In this special year, we published the Age of Confidence, a series of essays reflecting on 20 years’ development of Jewish culture, written by leaders in their field, leavened with Jewish Renaissance articles from our first 20 years. Financially supported by Dangoor Education and edited by Jewish Renaissance editor Rebecca Taylor and trustee David Benmayer, with a forward by the author Howard Jacobson, it showcases our achievements, our contribution to Jewish culture and the respect in which we are now held.
Subscribers to the Jewish Renaissance printed magazine are our lifeblood. Our expansion of university and library subscriptions together with strong growth in online readership gives us a younger age profile. Jewish Renaissance is now being read by over 20,000 people.
Our programme included a fascinating series of online events as well as some in-person gallery visits. Our new partnership with Lyons Learning has borne fruit through courses on spies, medical ethics and Jewish art through the ages, demonstrating the eclectic range of our activities. These and other online events have attracted almost 3,000 live participants and another 4,500 recorded views, raising nearly £9,000 for us as well as significant sums for partnering organisations.
Advertising receipts have increased and we have restarted our tours programme with a tour of the Isle of Man. This marked the World War Two internment of “enemy aliens”, many of whom were Jewish refugees from Nazi Germany, and was run in conjunction with the Association of Jewish Refugees.
Our donations increased by £128,000 compared to the previous year, principally due to the 20th Anniversary fundraising campaign, whilst charity activities remained level. Our costs in 2021/22 were £70,000 higher than the previous year. We still depend on the generosity of our regular donors. Among these, Dangoor Education stands out as a generous and long-term supporter, for which we are grateful.
Our achievements and magazine content have reached new heights with each issue. This is made possible by the efforts of our wonderful editorial and design team. They are led by Rebecca Taylor, Editor, supported by Danielle Goldstein, Associate Editor and Content Manager and Becky Redman, our Creative Director; together with our talented and committed editorial committee and of course, our writers and illustrators.
Our Lyons Learning Programme Producer, Emma Brand has managed our online events while Finance Manager Lorraine Sheridan, Subscriptions Manager Dani Silver and Operations Manager Ruth Bankover, cheerfully and competently kept pace with our expansion. Aviva Dautch, our Chief Executive, does a marvellous job of managing the team as well as bringing her own creativity to our programming.
We are fortunate to be blessed with such a good team and thank them all profusely.
Page 2 of 12
RENAISSANCE PUBLISHING
A company limited by guarantee
TRUSTEES’ ANNUAL REPORT (cont.) For the Year ended 31 July 2022
I must also mention the commitment of my fellow Trustees: our Treasurer Brian Harris, as well as Lady Patti Collins, David Benmayer and Martin Motz. It is a pleasure to work with them and I thank them unreservedly for their willingness and good humour. We say farewell and thank you to Judy Weleminsky, our Company Secretary in particular for her role in achieving Renaissance Publishing’s charity status. And I welcome Andrew Gordon as a new Trustee and Lorraine Sheridan as our new Company Secretary.
Reserves Policy
The Trustees have adopted a reserves policy that the charity’s reserves shall cover necessary costs and commitments during an unforeseen period of difficulty. The Trustees aim to maintain or hold the level of reserves equivalent to three months of expenditure. This matches the quarterly commitment of expenditure on the publication of the magazine, our principal activity. At this level the Trustees feel they will be able to continue the current activities of the charity in the event of a significant drop in funding.
Risk Assessment
Risk management is reviewed regularly by staff. The Trustees have identified the main risks to which the charity is exposed and have taken steps to mitigate them.
The Trustees report was approved by the Board of Trustees.
Ian Lancaster Chairman Date: 24 April 2023
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RENAISSANCE PUBLISHING A company limited by guarantee
Independent Examiner's Report to the Trustees of Renaissance Publishing Limited
I report to the charity trustees on my examination of the accounts of the company For the Year ended 31 July 2022 which are set out on pages 5 to 12.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your company’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
Since the Company’s gross income exceeded £250,000, your examiner must be a member of a body listed in s. 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
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:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. 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
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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.
Wendy Patterson FCA Institute of Chartered Accountants in England and Wales WSM Advisors Limited Chartered Accountants Connect House 133-137 Alexandra Road London SW19 7JY
Date: 24 April 2023
Page 4 of 12
RENAISSANCE PUBLISHING A company limited by guarantee
Statement of Financial Activities including Income and Expenditure Account for the year ended 31 July 2022
| Note Income From Donations 2 Investment income 3 Charitable activities 4 Expenditure on: Charitable activities and Governance Costs 5 Total Resources Expended 6 Net Income (Expenditure) for the year Transfer between Funds 12/13 Reconciliation of Funds Total Funds Brought Forward Total Funds Carried Forward |
Unrestricted Restricted Total Funds Total Funds Funds Funds 2022 2021 £ £ £ £ 264,291 0 264,291 136,783 18 0 18 5 68,873 0 68,873 68,705 |
|---|---|
| 333,182 0 333,182 205,493 |
|
| 291,000 0 291,000 221,179 |
|
| 291,000 0 291,000 221,179 |
|
| 42,182 0 42,182 (15,686) 0 0 0 0 31,958 0 31,958 47,644 |
|
| 74,140 0 74,140 31,958 |
All of the above results are derived from continuing activities. All gains and losses recognised in the year are included above.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
Page 5 of 12
RENAISSANCE PUBLISHING
A company limited by guarantee
Balance sheet at 31 July 2022
| Balance sheet at 31 July 2022 | |||||
|---|---|---|---|---|---|
| Notes | 2022 | 2022 | 2021 | 2021 | |
| £ | £ | £ | £ | ||
| Current assets | |||||
| Debtors | |||||
| Debtors | 10 | 60,010 | 2,830 | ||
| Cash at bank and in hand | 26,446 | 39,143 | |||
| 86,456 | 41,973 | ||||
| Creditors: amounts falling due within 1 year | 11 | 12,316 | 10,015 | ||
| Net current assets | 74,140 | 31,958 | |||
| Total assets less current liabilities | 13 | 74,140 | 31,958 | ||
| Incoming Funds | |||||
| Unrestricted Funds | 12 | 74,140 | 31,958 | ||
| 13 | 74,140 | 31,958 |
For the year ending 31 July 2022, the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustees’ responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts 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 on 24[th] April 2023 and signed on their behalf by:
Ian Lancaster Trustee
Company registration number: 04245529
Page 6 of 12
RENAISSANCE PUBLISHING
A company limited by guarantee
Notes to the accounts For the Year ended 31 July 2022
1. Accounting policies
Charity information
Renaissance Publishing is a private company limited by guarantee incorporated in England and Wales. The registered office is 353-359 Finchley Road, London NW3 6ET. The company is also a registered charity with registration number 04245529.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charitable company'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)". The charitable company is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. The principle accounting policies adopted are set out below:
1.2 Going concern
At the time of approving the accounts, the Board of Trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the Board of Trustees continue to adopt the going concern basis of accounting in preparing the accounts.
1.3 Tangible fixed assets
A review of tangible fixed assets, initially capitalised at cost has been made and it has been found that they have all been disposed of or replaced over the years by items that have been treated as revenue expenditure and they were disposed of from the accounts.
1.4 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.
1.5 Financial instruments
The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Page 7 of 12
RENAISSANCE PUBLISHING
A company limited by guarantee
Notes to the accounts For the Year ended 31 July 2022
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
1.6 Fund Accounting
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
1.7 Incoming resources
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measure reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions can be met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Income from grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred. Investment income (bank interest) is earned through holding deposit accounts. Interest income is recognised when the charity's right to receive the interest is established.
1.8 Resources expended
All expenditure is accounted for on an accruals basis and has been classified under the headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
(i) Raising funds - fund raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
(ii) Charitable activities – all expenditure relating to the objectives of the charity
(iii) Governance costs- include independent examiners fees and legal advice for Trustees and any other costs associated with constitutional and statutory requirements.
1.9 Support Costs
The amounts disclosed under each of the above categories comprise those costs which are directly attributable to that category together with an apportionment of support costs. Support costs are those costs that are not directly attributable to a single activity but provide the necessary organisational support for all the charity's activities and are allocated to activities on a basis consistent with use of the resource. The support costs have been allocated to each of the charity's activities according to its purpose.
1.10 Pension policy
Employee pension contribution scheme payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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RENAISSANCE PUBLISHING
A company limited by guarantee
Notes to the accounts For the Year ended 31 July 2022
2 Donations
| 2 Donations | |
|---|---|
| Donations Donations and Sponsorship Gifts Gift Aid income tax repayments Grants Receivable |
Unrestricted Restricted Total Funds Total Funds Funds Funds 2022 2021 £ £ £ £ 251,817 0 251,817 134,233 12,474 0 12,474 2,550 0 0 0 0 |
| 264,291 0 264,291 136,783 |
No Grants were received in 2022 (2021 £0)
| 3 Investment Income Bank interest receivable 4 Income from charitable activities Advertising Income Magazine subscriptions, sales and App Events Tour Income |
Unrestricted Unrestricted Funds Funds 2022 2021 £ £ 18 5 Unrestricted Restricted Total Funds Total Funds Funds Funds 2022 2021 £ £ £ £ 4,180 0 4,180 3,802 54,321 0 54,321 58,211 7,397 0 7,397 6,692 2,975 0 2,975 0 |
Unrestricted Unrestricted Funds Funds 2022 2021 £ £ 18 5 |
|---|---|---|
| 68,873 0 68,873 68,705 |
Page 9 of 12
RENAISSANCE PUBLISHING
A company limited by guarantee
Notes to the accounts For the Year ended 31 July 2022
5 Expenditure on charitable activities.
| Costs directly allocated to activities Magazine Printing costs Editorial Illustrations Contributor costs Website Application Events Magazine design Magazine Production Support costs allocated to activities Staff costs Rent Telephone & IT Subscription services Accountancy costs Sundries Support Costs Independent Examiners Fee |
Unrestricted Restricted Total Total Funds Funds Funds Funds 2022 2021 £ £ £ £ 32,039 0 32,039 18,159 33,086 0 33,086 27,973 6,626 0 6,626 9,196 13,319 0 13,319 11,457 31,262 0 31,262 31,462 860 0 860 1,225 39,718 0 39,718 0 12,182 0 12,182 12,471 |
|---|---|
| 169,092 0 169,092 111,943 97,015 0 97,015 79,819 1,200 0 1,200 3,644 9,903 0 9,903 11,559 10,117 0 10,117 10,578 18 0 18 193 1,855 0 1,855 1,835 |
|
| 120,108 0 120,108 107,628 1,800 0 1,800 1,608 |
|
| 291,000 0 291,000 221,179 |
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RENAISSANCE PUBLISHING
A company limited by guarantee
Notes to the accounts For the Year ended 31 July 2022 6 Total Expenditure
| Magazine Printing costs Editorial Illustrations Contributors Website App Magazine design Events Governance costs Support costs |
Magazine Other costs Total Total Production 2022 2021 £ £ £ £ 32,039 0 32,039 18,159 33,086 0 33,086 27,973 6,626 0 6,626 9,196 13,319 0 13,319 11,457 31,262 0 31,262 31,462 860 0 860 1,225 12,182 0 12,182 12,471 39,718 0 39,718 0 0 1,800 1,800 1,608 120,108 0 120,108 107,628 |
|---|---|
| 289,200 1,800 291,000 221,179 |
Governance costs includes payment to the independent examiner of £1,800 (2021 £1,608).
7 Trustees remuneration and reimbursed expenses
No trustee was remunerated or reimbursed for their expenses during the year, (2021 nil).
| 8 Staff Costs Salaries Social Security Pensions |
2022 2021 £ £ 151,649 120,799 12,962 10,505 2,684 2,460 |
|---|---|
| 167,295 133,764 |
The average number of employees during the year was as follows:
| Administration Editorial Managerial |
2022 2021 1 1 2 2 1 1 |
|---|---|
| 4 4 |
One employee received emoluments within the range of £60,001 and £70,000. (2021 nil)
9 Taxation
The charitable company is exempt from corporation tax on it's charitable activities.
Page 11 of 12
RENAISSANCE PUBLISHING
A company limited by guarantee
Notes to the accounts For the Year ended 31 July 2022
| 10 Debtors Trade debtors Other debtors 11 Creditors: amounts falling due within one year Trade creditors Accruals Deferred income Other taxation and social security |
2022 2021 £ £ 10,545 550 49,465 2,280 60,010 2,830 2022 2021 £ £ 1,800 402 1,855 1,560 5,052 5,252 3,609 2,801 12,316 10,015 |
|---|---|
Deferred income includes £3,619 relating to year ended 31 July 2023 and £686 to year ended 31 July 2024.
| 12 Unrestricted funds General fund: At 1st August 2021 Income Expenditure At 31 July 2022 |
2022 2021 £ £ 31,958 47,644 333,182 205,493 (291,000) (221,179) 74,140 31,958 |
|---|---|
The general fund represents the free funds of the charity which are not designated for particular purposes.
13 Analysis of net assets between funds
| Current assets Creditors: amounts falling due within one year Total Funds |
Unrestricted Restricted Total funds funds 2022 £ £ £ 86,456 0 86,456 (12,316) 0 (12,316) |
|---|---|
| 74,140 0 74,140 |
14 Share capital and controlling parties
The company is limited by guarantee and has no share capital. The liability of its members is limited to £1 per member.
15 Related party transactions
There were no related party transactions during the year.
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