**Charity number: 1153448**
## **THE CHYAH DAVIES FOUNDATION**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 5 APRIL 2022**
## **THE CHYAH DAVIES FOUNDATION**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the charity, its trustees and advisers**|1|
|**Trustees' report**|2 - 4|
|**Independent examiner's report**|5 - 6|
|**Statement of financial activities**|7|
|**Balance sheet**|8|
|**Statement of cash flows**|9|
|**Notes to the financial statements**|10 - 17|
**THE CHYAH DAVIES FOUNDATION**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2022**
## **Trustees**
Matthew Samuel Davies Maya Jean Davies (appointed 18 December 2021) Rachel Naomi Davies KSL Trustees Limited Lucy Florence Lily Davies
## **Charity registered number**
1153448
## **Principal office**
30 Green Walk, Bowdon, Altrincham, WA14 2SW
## **Accountants**
Crowe U.K. LLP, 3rd floor, The Lexicon, Mount Street, Manchester, M2 5NT
Page 1
**THE CHYAH DAVIES FOUNDATION**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2022**
The Trustees present their annual report together with the financial statements of the charity for the 6 April 2021 to 5 April 2022.
## **POLICIES AND OBJECTIVES**
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the charity commission relating to public benefit. The details below explain the activities carried out for the public benefit.
## **GRANT MAKING POLICIES**
The charity provided grants to other charitable institutions in order to aid the relief of poverty; the relief of sickness of children and young people with serious or life threatening illness; the relief of those in need by reason of youth, age, ill health or disability or financial hardship; aid environmental conservation or other general charitable charitable purpose.
## **REVIEW OF ACTIVITIES**
During the year, fifteen charitable grants were made to other charitable institutions in accordance to the fund restrictions, totalling £116,350 (2021: £33,682).
## **INVESTMENT POLICY AND PERFORMANCE**
The charity aims to generate a return on investment at least equal to inflation to maintain the real value of the funds invested.
## **Financial review**
## **GOING CONCERN**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
## **RESERVES POLICY**
The Chyah Davies Foundation holds reserves as at 5 April 2022 of £648,226 (2021: £749,221).
As a grant giving charity, the charity has a target free reserves level of £nil as it has negligible financial commitments other than the extent to which it awards grant funding. The Trustees are currently retaining the aforementioned reserves as they consider applications for grant funding from potential beneficiaries and expect to receive more applications in the future. Only projects which meet the Trustees’ criteria as outlined in their charitable objects will be funded.
Page 2
**THE CHYAH DAVIES FOUNDATION**
## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2022**
## **Structure, governance and management**
## **CONSTITUTION**
The principal object of the charity is to provide grants to other charitable institutions for the following charitable objects:
- the relief of poverty;
- the relief of sickness of children and young people with serious or life threatening illness;
- the relief of those in need by reason of youth, age, ill health or disability or financial hardship.
## **METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES**
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **ORGANISATIONAL STRUCTURE AND DECISION MAKING**
The charity was established on 14 December 2012 by a declaration of trust as amended on 24 July 2013. The charity registered with the Charity Commission on 16 August 2013.
All decisions are made by the charity's trustees.
## **Plans for future periods**
## **FUTURE DEVELOPMENTS**
The charity will continue to consider the applications it receives from other charities and provide funding where the trustees consider it to be appropriate to support the application.
## **TRUSTEES' RESPONSIBILITIES STATEMENT**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
Page 3
**THE CHYAH DAVIES FOUNDATION**
## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2022**
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Trustees, on 23 January 2023 and signed on their behalf by:
## **Rachel Naomi Davies**
Trustee
Page 4
**THE CHYAH DAVIES FOUNDATION**
## **ACCOUNTANT'S REPORT FOR THE YEAR ENDED 5 APRIL 2022**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHYAH DAVIES FOUNDATION (the 'charity')**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 5 April 2022.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
## **RESPONSIBILITIES AND BASIS OF REPORT**
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **INDEPENDENT EXAMINER'S STATEMENT**
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
Page 5
**THE CHYAH DAVIES FOUNDATION**
## **ACCOUNTANT'S REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2022**
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.
Signed: Dated: 26th January 2023 V Szulist ACA Crowe U.K. LLP. The Lexicon Mount Street Manchester M2 5NT
Page 6
## **THE CHYAH DAVIES FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2022**
|**Unrestricted**
**funds**
**Note**
**2022**
**£**
**INCOME FROM:**
Investments
2
**150,000**
**TOTAL INCOME**
**150,000**
**EXPENDITURE ON:**
Charitable activities
**117,559**
**TOTAL EXPENDITURE**
5
**117,559**
**NET INCOME / (EXPENDITURE) BEFORE INVESTMENT**
**GAINS/(LOSSES)**
**32,441**
Net gains/(losses) on investments
**(133,435)**
**NET INCOME / (EXPENDITURE) BEFORE OTHER**
**RECOGNISED GAINS AND LOSSES**
**(100,994)**
**NET MOVEMENT IN FUNDS**
**(100,994)**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**749,220**
**TOTAL FUNDS CARRIED FORWARD**
**648,226**|**Total**
**funds**
**2022**
**£**
**150,000**
**150,000**
**117,559**
**117,559**
**32,441**
**(133,435)**
**(100,994)**
**(100,994)**
**749,220**
**648,226**|_Total_
_funds_
_2021_
_£_
_-_|
|---|---|---|
|||_-_|
|||_34,733_|
|||_34,733_|
|||_(34,733)_
_184,957_|
|||_150,224_
_150,224_
_598,996_|
|||_749,220_|
The notes on pages 10 to 17 form part of these financial statements.
Page 7
**THE CHYAH DAVIES FOUNDATION**
## **BALANCE SHEET AS AT 5 APRIL 2022**
|**Note**
**FIXED ASSETS**
Investments
10
**CURRENT ASSETS**
Cash at bank and in hand
**CREDITORS:**amounts falling due within
one year
11
**NET CURRENT ASSETS**
**NET ASSETS**
**CHARITY FUNDS**
Unrestricted funds
13
**TOTAL FUNDS**|**£**
**66,700**
**(2,235)**|**2022**
**£**
**583,761**
**64,465**
**648,226**
**648,226**
**648,226**|_£_
_33,071_
_(1,047)_|_2021_
_£_
_717,196_
_32,024_|
|---|---|---|---|---|
|||||_749,220_|
|||||_749,220_|
|||||_749,220_|
The financial statements were approved by the Trustees on 23 January 2023 and signed on their behalf, by:
## **Rachel Naomi Davies**
The notes on pages 10 to 17 form part of these financial statements.
Page 8
**THE CHYAH DAVIES FOUNDATION**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2022**
|**Note**
**Cash flows from operating activities**
Net cash provided by/(used in) operating activities
15
**Change in cash and cash equivalents in the year**
Cash and cash equivalents brought forward
**Cash and cash equivalents carried forward**
16|**2022**
**£**
**33,629**
**33,629**
**33,071**
**66,700**|_2021_
_£_
_(34,701)_|
|---|---|---|
|||_(34,701)_
_67,772_|
|||_33,071_|
The notes on pages 10 to 17 form part of these financial statements.
Page 9
**THE CHYAH DAVIES FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022**
## **1. ACCOUNTING POLICIES**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) updated in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.
The Chyah Davies Foundation constitutes a public benefit entity as defined by FRS 102.
## **1.2 Fund accounting**
General funds are unrestricted funds which 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.
## **1.3 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 10
**THE CHYAH DAVIES FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022**
## **1. ACCOUNTING POLICIES (continued)**
## **1.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity.Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
## **1.5 Going concern**
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view.
As the funds available to the Chyah Davies Foundation are considerably greater than the allocated funds, the resources are adequate enough to allow the charity to continue operating for the foreseeable future. For this reason, the charity is a going concern.
## **1.6 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliabily in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of Financial Activities.
## **1.7 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
## **1.8 Cash at Bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 11
**THE CHYAH DAVIES FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022**
## **1. ACCOUNTING POLICIES (continued)**
## **1.9 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
## **1.10 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.11 Estimates and uncertainties**
There are no material estimates or uncertainites in the preparation of the accounts.
## **2. INVESTMENT INCOME**
|**Unrestricted**
**funds**
**2022**
**£**
Investment income
**150,000**
**ANALYSIS OF GRANTS**
**Grants to**
**Institutions**
**2022**
**£**
Grants, Relief of those in need
**97,700**
Grants, Relief of Sickness in Children and young people
**15,000**
Grants, General Charitable Purposes
**3,650**
**116,350**
_Total 2021_
_33,682_|**Total**
**funds**
**2022**
**£**
**150,000**
**Total**
**2022**
**£**
**97,700**
**15,000**
**3,650**
**116,350**
_33,682_|_Total_
_funds_
_2021_
_£_
_-_|
|---|---|---|
|||_Total_
_2021_
_£_
_7,350_
_13,000_
_13,332_|
|||_33,682_|
||||
## **3. ANALYSIS OF GRANTS**
Page 12
**THE CHYAH DAVIES FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022**
## **4. SUPPORT COSTS**
|**Governance**
**£**
Independent Examiner's Fees
**1,188**
_Total 2021_
_1,051_|**Total**
**2022**
**£**
**1,188**
_1,051_|_Total_
_2021_
_£_
_1,051_|
|---|---|---|
||||
During the year ended 5 April 2022, the charity incurred the following Governance costs:
_£_ 831 _(2021 - £NIL)_ included within the table above in respect of Relief of those in need.
_£_ 128 _(2021 - £821_ ) included within the table above in respect of Relief of Sickness in Children & Young people.
_£_ 31 _(2021 - £229)_ included within the table above in respect of General Charitable Purposes.
## **5. ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE**
|**Other costs**
**2022**
**£**
Relief of Sickness in Children & Young people
**15,000**
General Charitable Purposes
**101,350**
Expenditure on governance
**1,209**
Total charitable expenditure
**117,559**
_Total 2021_
_34,733_
**6.**
**GRANTS TO INSTITUTIONS**
UK Friends of Yad Yisroel - Ukraine
The FED
Cumbria Community Foundation
Action Medical Research
Grants less than £5k
Total
|**Other costs**
**2022**
**£**
Relief of Sickness in Children & Young people
**15,000**
General Charitable Purposes
**101,350**
Expenditure on governance
**1,209**
Total charitable expenditure
**117,559**
_Total 2021_
_34,733_
**6.**
**GRANTS TO INSTITUTIONS**
UK Friends of Yad Yisroel - Ukraine
The FED
Cumbria Community Foundation
Action Medical Research
Grants less than £5k
Total
|**Other costs**
**2022**
**£**
Relief of Sickness in Children & Young people
**15,000**
General Charitable Purposes
**101,350**
Expenditure on governance
**1,209**
Total charitable expenditure
**117,559**
_Total 2021_
_34,733_
**6.**
**GRANTS TO INSTITUTIONS**
UK Friends of Yad Yisroel - Ukraine
The FED
Cumbria Community Foundation
Action Medical Research
Grants less than £5k
Total
|**Total**
**2022**
**£**
**15,000**
**101,350**
**1,209**
**117,559**
_34,733_
**2022**
**£**
**50,000**
**25,000**
**15,000**
**10,000**
**16,350**
**116,350**||_Total_
_2021_
_£_
_26,332_
_7,350_
_1,051_|
|---|---|---|---|---|---|
|||||||
|||||||
||||||_34,733_|
||||||_2021_
_£_
_-_
_-_
_-_
_5,000_
_33,682_|
|||||||
|||||||
|||||||
||||||_38,682_|
Page 13
**THE CHYAH DAVIES FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022**
## **7. NET INCOME/(EXPENDITURE)**
During the period, no Trustees received any remuneration, benefit in kind or reimbursement of expenses.
## **8. INDEPENDENT EXAMINER'S REMUNERATION**
The Independent Examiner's remuneration amounts to an Independent Examination fee of £990 (2021 - £900).
## **9. STAFF COSTS**
The charity has no employees other than the Trustees, who did not receive any remuneration _(2021 - £NIL)_ .
No employee received remuneration amounting to more than £60,000 in either year.
## **10. FIXED ASSET INVESTMENTS**
|**FIXED ASSET INVESTMENTS**|||
|---|---|---|
|**Market value**
At 6 April 2021
**Movement in valuation in the year**
At 6 April 2021
Movement during the year
At 5 April 2022
**Net book value**
At 5 April 2022
_At 5 April 2021_
**Investments at market value comprise:**
Unlisted investments
All the fixed asset investments are held in the UK
**CREDITORS: Amounts falling due within one year**
Accruals and deferred income|**2022**
**£**
**583,761**
**2022**
**£**
**2,235**|**Unlisted**
**securities**
**£**
**717,196**|
|||**-**
**133,435**|
|||**133,435**|
|||**583,761**|
|||_717,196_|
|||_2021_
_£_
_717,196_|
|||_2021_
_£_
_1,047_|
## **11. CREDITORS: Amounts falling due within one year**
Page 14
**THE CHYAH DAVIES FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022**
## **12. FINANCIAL INSTRUMENTS**
|**FINANCIAL INSTRUMENTS**|||
|---|---|---|
|Financial assets measured at fair value through income and
expenditure
Financial assets measured at amortised cost
Financial liabilities measured at amortised cost|**2022**
**£**
**584,567**
**66,700**
**651,267**
**2,235**|_2021_
_£_
_717,196_
_33,071_|
|||_750,267_|
|||_1,047_|
Financial assets measured at fair value through income and expenditure comprise investments. Financial assets measured at amortised cost comprise cash at bank.
Financial liabilities measured at amortised cost comprise accruals.
## **13. STATEMENT OF FUNDS**
## **STATEMENT OF FUNDS - CURRENT YEAR**
|**Balance at**
**6 April 2021**
**£**
**Unrestricted funds**
General Funds
**749,220**
**STATEMENT OF FUNDS - PRIOR YEAR**
_Balance at_
_6 April 2020_
_£_
General Funds
_598,996_
Total of funds
_598,996_|**Income Expenditure**
**£**
**£**
**150,000**
**(117,559)**
_Income_
_Expenditure_
_£_
_£_
_-_
_(34,733)_
_-_
_(34,733)_|**Gains/**
**(Losses)**
**£**
**(133,435)**
_Gains/_
_(Losses)_
_£_
_184,957_
_184,957_|**Balance at**
**5 April 2022**
**£**
**648,226**|
|---|---|---|---|
||||_Balance at 5_
_April 2021_
_£_
_749,220_|
||||_749,220_|
Page 15
**THE CHYAH DAVIES FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022**
## **14. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
## **ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR**
||**Unrestricted**|**Unrestricted**|**Total**|**Total**|
|---|---|---|---|---|
||**funds**||**funds**||
||**2022**||**2022**||
||**£**||**£**||
|Fixed|asset investments
**583,761**||**583,761**||
|Current assets
**66,700**|||**66,700**||
|Creditors due within one year
**(2,235)**|||**(2,235)**||
||||||
||**648,226**||**648,226**||
|**ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR**|||||
||_Unrestricted_||_Total_||
||_funds_||_funds_||
||_2021_||_2021_||
||_£_||_£_||
|Fixed|asset investments
_717,196_||_717,196_||
|Current assets
_33,071_|||_33,071_||
|Creditors due within one year
_(1,047)_|||_(1,047)_||
||||||
||_749,220_||_749,220_||
|**15.**|**RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING**||||
||**ACTIVITIES**||||
||**2022**||_2021_||
||**£**||_£_||
||Net (expenditure)/income for the year (as per Statement of Financial||||
||Activities)
**(100,994)**||_150,224_||
||**Adjustment for:**||||
||Gains on investments
**133,435**||_(184,958)_||
||Increase in creditors
**1,188**||_33_||
||**Net cash provided by/(used in) operating activities**
**33,629**||_(34,701)_||
|**16.**|**ANALYSIS OF CASH AND CASH EQUIVALENTS**||||
||**2022**||_2021_||
||**£**||_£_||
||Cash in hand
**66,700**||_33,071_||
||Total
**66,700**||_33,071_||
Page 16
**THE CHYAH DAVIES FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022**
## **17. RELATED PARTY TRANSACTIONS**
There were no related party transactions during the year.
Page 17