ReGLSTEkED COMPANY NUMBER.. 08722309 (England ond Woles) REGISTERED CHARrrY NUIA8ER: T 154476 Repryl of Ihe Twslees ond UnovdTred FIn011 Stotemenls lor Ihe Year Ende<l 31 D•c•mb•r 2023 lor Sandhwjt Trusl Harkjnds Accountants (Newquoyl Limited Unit 4. South Wiew H(xJ5e SI Au51ell Buyness Pork 5t Au5tell Comwol PL25 4EJ
Sondhur3t Twst Contents of Ihe financlLiI Stotements fcrf Ihe Year Ended 31 Decembef 2023 Poge RepryF ol Ihe Tw5tees Independent Examlnerfs Report statement ol ffnonelal ActlvlHes Bolonce Sheet Cash Flow Slalemtnt Note5 lo Ihe Cash How Slalemenl Notes lo Ihe Flnonclal Sl(rtements 10 to 15
SandhurstTFust Report ol the Tivstees lor the Ye¢# Ended 31 December 2023 The Iruslees who ore abo director5 of Ihe charily f( the purp05e5 of the Componie5Act 20)0. esent IheiireFXXt wlh Ihe finoncd statements of the chorily for the yeor ended 31 December 2Q23. The trustees hove odopled the provigons ol Accounting an Reporting by Chorilies.. Stolement ol Recommended Practice applicable to chgfftie5 preparing ther occounts in occ(xdance with the finoncial Repcxting Stondord opplicotle in the UK ond Republic of Ireland IFRS 1021 leffeclive l Jonvory 20191. OBJECTIVE5 AND ACTIVIIIES ObJectives ol the Churffy The Sondhursl frust hos trwo Ch£0b1e obiecls-. Object l.. To promote the eiftiency of the ormed fuce5 01 the Crown and n porticular Ihe Royol Milil Acodemy IRMA) Sandhurst in such choritoble ways 05 the trustees from lime to lin thir)k h"1. Object 2.. To odvonce educolion ond reseorch in the field5 of adlp one monogerllent and Ihe training Df effectNe Monoge ond knder5 in CMI ond rTMThtory Ke. gnwtcunt ocmvltles the Ye and achlevements 2023 saw the challty Tunnirp o full rrfogrornme of event5 190 loknng ploce. The Trus1 conlinues lo be supported by the Potron. The King of Bohroin. with the onnvol gant of £7(J( paid. Furthermore. the grant n aid from the Ch1 of the Generol Stoff wos increosed to £67.5k and bolh gronts were lully utilised keeping the chority running. Reserve5. thch hod been run down during Covid. were re-estob115hed and stood at £75k by the end of the year. Ihe need to reconstitute the re5eFve and the employmenl ol odditionol 5toff to cope wlh additional evenls 51ghtty reduced charitatAe disbursement. Nevertheles5. this wa5 £113.503 only 8% below ovr best ye(T in 2022. Publlc benellt The Royol Mli itory AcodemySondhurst IRMASI h05 an intemationol reputatn fry the troiniro of Amiy officers as aders and monogers. Army offrers toke Ihil tsoining (JrKI 5ub5equent rThTrtory experience bock into the ciwl areno ot the end ol their milit(wy corew whettEr Ihi5 ts sh(yl or long. Ihe Trusl 5UPPOrt5 RMAS by providing prizes ond leadership grant5 to enhonce trainirvJ oclivity and otso provides leoder5hip grant5 fu members of the charity out in the Field Amiy. During the yeor. the chority supp¢xted Ihe cent fi Arrny Leoder5hip wth the r)rovtsion of books for the leadership Ibrary and prowded pri5 in 5UPP(xt ol both RMAS ond Ibe Intermediate Command ond Stall Course. During 2023 The Trust charilobly disbut5ed £1 l3k includng 587 gronts lo Officer Cadet5 going on odvenlurous Iroining expeditions. Furthee. 172 gront5 were supplied to members taknng thew soldiers on advenlurous froining ond another 48 to member5 of the Sondhursl stolf. WeNore continued to be a moj(* tsclivity. wth sUPPOrt to intemolionol codet5 torced lo remoin ot RMAS during Ihe recesses. unoble lo retUTn home due to the cost of nvaht5. The chorify otso osssted wth a compussionole flighl home for a cadel from Popuo New Guineo and a Cornmonweolth soldier 5efving wlh the Sondhursl SupFxxt Unil. Grants for weffore tololledjust under £54k. There were some iemtsiThng legacies following the colkjpse of the Afghon Govemrnenl in 2021 with driving lessons ovided lor Iwo Icmier codels given leave to remcin in the UK. At the other end of Ihe sco. The Trust refvrbished the galson chiklren'5 playgroup areo ond provided o Iridge Icx Ihe gorttson nursery. linolly. The Trust supported Lucknow Plotoon. which ho¥J5es the codets injured during training, ond the continued piovision ol o hired golf bvggy cvls down the omount of wolking requiied on the large 660 ocre sile. With this and osgstonce vAth exlTa-curriculor oclivilie5 such 05 a w5il lo Ihe Nolionol Amy Museum the Notionol Memoriol Arb(Ketum. the total gonls to the rehob codels wos over £6k. Poge I
Sandhurst TIv5t Report of Ihe Trustees low the Year Ended 31 Oecernber 2023 FINANCIAI REVIEW Reserves pdky To meet 115 objects. The Trust hos ogreed a budgetng and reserve5 poficy that enables il lo moke the oppiopriate ollocotion ol funds wh.rfe ot the sarre time securing 0 sound finonciol bo%s lor the future octivitie5 of the Iru51. The ollocolion of the funds and Tes(Mces ue ogeed by the twslees n the overam h1 ol the Trusts slralegic need5. The Trust holds sevefol types ol re5wes. Some ore Testricled, meonro that they hove been given lor specific purposes u hove conditions Ottoched Ihal mean5 they con On be spent in o $peCrf way. Some reseNe5 ore in Ihè I ol degnated funds that cye put oyde by the TFustee5 to represent rrxed ond other ossels. which connot be reodly converted into cash. Finally. The Trust holds general funds c free $VeS fc three ncIpal reasons.. i. To Supp wtying copitol lo enable the Trust to rnanoge thjctuolions in its cosh-flow 11. To enoble the twsl to invest in other operotions Ihot complement the objectives of the trust iii. To 0de protection in the case of ony unforeseen cos1$ ly to enatAe on (xdety wnding up of the TnJst The reserves policy odopted by the tru5tee5 hos estobIhed. ot the current levets of octivity. the torgel range for the free reserv85 15 between £1 ond £1S0.(KKI. Told reserves al the end ot the financiol yeorwere £1 11.852 12021.. £224,5811, which is Vrfithin the longe thol the fnJslees feel %Ye necessary to kxolecl for ony ol the events set out above. Going concem Since the 8olrJnce Sheet date of 31 December 2019. the TnJst. in line wth all olher charilie5. commerciol bvsinesses and generol lives. hos been advetsety impocted by the g4obal COVID-19 pandemic. inclUdg concelk*ion of vitvolly oll event5 ond exte och"vitie5 ofier March 2020. The TnJ5tees have loken advantoge ol Govemmentol supEx)rt meosures. inc41n9 'furknugh' scherne claims. and hove cut olher costs where P055ible.' fortunately. the Trust continues lo benefit from regular donolions ond gents lo mointoin income such thot the Iru5tee5 congder Ihol the Tru51 con continue c50 gcxng concem fry the foTeseeable future- Ihe Tffustrees 11 conlinue to keep Phe financial posilion of the ch(ty under iegulor revew. SIRUCTURE. GOVERNANCE AND MANAGeMENT ConstWuMon In accordonce wth the decion token by Ihe Truslees dumg 2013. in corsultotion knith the Choritie5 Commission ond with appropriole legol odvice. The Sondhuf5t Trusl Ichority number 1154476." Compony number 087223091 was lounched wth effect from l Jon 2014. All ossets ond liobilities of the Sandhurst Foundolion were tron5ferred to the Sandhufst Trust 05 a re5uII ol o Tronsler Ageemenl between the twstees of each organisotion lond wilh the authority ol the Chorilies comrr10nj. Sondhurst rru51 15 0 componyfwniled by guorontÈe ond oovemed by its memorondurn ond articks ol ossociotion. COre9Ven. the Sandhur5f F(xJndatK)n bas been removed Irom the [eegler of Charitie5. Methods ol oppointing Iwvslees There ore three ex officio tru51ee5.' The Cofflmondant. the Assislanl Commondant ond Ihe D1clOr ol Sludies of the Royol Mililary Acodemy Sondhursl. Olhef Trustee5. between 3 and g. ore co-opted. REFERENCE AND ADMINISTRATIVE DETAILS Reglslered Company nvmb•r 08722309 (Englond and Wole51 Regied Chuthy nvmber 1154476 Reglslered offic• Old College The Royol Mililory Academy Sondhur5t Carnberlev Surrey GU154PQ Poge 2
Sandhvr5t Trv5t Report ol the Twvslees lor the Year Ended 31 December 2023 Tru51ees Trustees ol the S0ndhu1 Trust during Ihe X)23 wwe= Mojor Generol Z R Slenning 08E Lieulenonl General IReliredl Sir Simon Moyoll KBE CB (Choirmonl Colonel R N Alston M8E- resB3ned 19 June 2023 Colonel J Ainley- oppoinled 19 June 3)23 Brigadier (Reliredl 1 Tr4 A Thomos OBE lex off101 Mr R C R Andewson Lievtenont Colonel S W Bart* QVRM TD Mr W R W Gornal-King MsJADJome5 Mr S Taylor Mr T R 5hefwood MrPRJSmith Mr R Tonno Mr A M Skilton Independenl Examlner Deboroh Edward5 Horlond5 Accounlanls (Newquoyl Limited Unit 4. South View House St Austell Busine55 Pork st Austell Cornwall PL25 4EJ Approved by lydw ol the board of truslees on ............................................. and 5uned on 115 beholf by.. Mr T 5herwood- TStee Poge 3
Independent Examinerfs Report lo Ihe Tru51ees ol Sandhvr51 Iru51 Independent exomlnef's rewFto Ihe Iwustees of SandhurstTNs1 Cthe Compa) I report lo the charity Irusfees on my exominolion of Ihe COUnt5 ol the Company Icf the year ended 31 December 2023. Re5ponsiblNlle5 and basls ol rewl As the chorify'5 trustee5 01 the C¢ynwny lond it5 déCl(s lor thè PLJfposes ol company lowl you ore respongble the preporotion of the occojnfs in accOnCe wlh the reqiJK8ment5 of the Componies Act 20061'lhe 2W6 Act'l. Hovirg SolrIed myself Ihot the occounts ol the Compony (¥e not re(wir8d lo be audited under Port 16 of the 2006 Act and aTe eligib Icy independenl exominolion. I rewl in respect of my examination of your chorty's accounts Qs calried out under Seclion 145 of the Chorities ACI 2011 I'lhe 2011 Act'l. h corryiw out mv exornin01n I hove followed the Directionsgiven by the Charity COMrr0 undeT5ection 14SI51 Ibl ol the ?01 I Act. Independent exarnlnerfs slolement Since your charity's gro Income excee¢Jed £250.CIXI your exotymnw must be o member of a listed body. I con confiryn Ihat l om qvolified lo ndQke the examinotion becouse l am a member ol the Institute of Chortered AcccxJnlonts in Englond ond WO5. which is one ol the ksted bodies. I have Com1ed my exornination. I confvm Ihat no mart hove come lo my allention in connection with the exominotion giving me cou5e lo beIve.. occoun1g record5we¥e not kepl in respect of the C¢Jnpony os requwed by Seclh)n 386 of the 2fKI6 Acl: Ihe occovnts do not accord wth those rec(xd5.' the occovnts do not compty wilh Ihe occounling reqvwemen15 of Section 396 01 Ihe 26 Act olher than any requirement thot Ihe occounts give o twe ond loy vtew whh is not a matter Condered os port of on independent examinolK)n." or the occount5 have not been prepared in acc(xdance wth the method5 ond ncipleS of the Statement of Recommende# Practice fiK accounting and reporting by choritie% [opleable ID chcffjts ryeporing Ihetr occounts in occordonce wth the linonciol Reporting Stond¢>d apdicate in the UK ond Republic ol Ireland IFRS I21). I hove no concems and hove come ocross no other maller5 in connection with the e¥uminution to which ollention shcxJld be thown in t$ rp¢yl in Ord to enoble o ryoper understanding of ihe occounls to be reoched. Detmyoh Edworas artonds Accovntants INewquoyl Limited Unit 4. South View House Sl Avslell 8vsiness Pork St Avstell Cornwoll PL25 4EJ Date.. -.0611 IIX24......................... Page 4
Sondhurst TNJt Stolement ol Flnonclal Acllvtlles for the Yeur Ended 31 December 2023 31.12.23 Unrestricted fvr 31.12.22 Total funa5 Notes INCOME AND ENDOWMENTS FROM Donation5 and legacies 993.232 983,535 Investment Thicome 3.132 682 Tolal 996,364 984.217 ExpeNDmJRE ON Roi5ing lun(* 671.039 770.619 Other 368.094 326.327 Tolal 1.039.133 1.096.946 NET INCOMEI(EXPENDITURE) (42,769) 1112.7291 RECONCILIATION OF FUNDS rotal funds brought fonmord 111.852 224.581 TOIAL FUNDS CARRIED FORWARD 69.083 111.852 The notes form port of the58 finonciol stotemenls Pose 5
Sondhvrsl Trust Balance 5heel 31 December 2023 31.12.23 Unrestrkted lund 31.12.22 Totol lund5 Noles FIXED ASSEIS Intongible o55et5 3.180 CURRENT ASSET5 Stock5 Debtors Cosh al bonk and in hond 10 30.109 110,704 201.027 33.583 41.303 306.244 341.840 381.1 CREDITORS Amount5 rolling due within C yeor 12 (203.S41) 1202.3741 NET CURRENT ASSETS 78299 178.756 TOTAL ASSEfs iE55 CURRENT UABiimES i22SOI 181,936 CReDITORS Amounts rolling dve after more Ihan one year 13 (53.418) 170.0841 NET ASSETS 69.083 111.852 FUNDS Unrestricted funds Is 09,083 111.852 TOTAL FUNDS 69.083 The charilable company 15 entitled Fo exemptw from oudtl under Section 477 of the Componies Act 2006 Ic the yeor ended 31 December 2023. The member5 have not required the compony to obtuin on oudil ot its finonciol slolement5 f(Y the ye(ff ended 31 December 2023 in occordance with secti 476 of Ihe Companies Act 21X)6. The Iru5tees acknowledge Iheir responsibiltlies for lol ensuring thot the chontoble cofflpany keeps acccMJnting recd5 Ihal comply wth Sections 386 and 387 ol the Companie5 Act 2Tr)6 ond preporing hnonciol 5totements whh gNe a true ond fo view ol rhe slale of off01 of the choritable ¢orrpony os ol the end of eoch finonciol yeor and of ils surplus deficit for each linonciol yeor in occordance with the requirement5 01 Sections 394 ond 395 and which otheISe comply wth the requirements of the Companie5 Acl KX)6 reloting tts finonckjl statement5. 50 for 05 applicoble to Ihe charitable compony. Ibl The noles l(xrn port of these f[noncl slotemenls Poge 6 continued...
Sondhur51 Trvsl Balance Sheel - contlnved 31 December 2023 These financial stotremenls hove been FNeFxKed in accordonce wth the rwovis1cS oppficoble to cha*able omponies subject lo the smal companies regime. The linoncial statements were 00Ved by the Boc¥d of TnJstree5 ond outhsed fu issue on . ond were signed on ils behotr by.. Mr T SheTwood . Twslee The notes form of these finoncial 5tolernen15 Poge 7
SondhurstTrus1 Cush Aow Stotement Ihe Year Ent1ed 31 Decembet 2023 31.1223 31.12.22 Nofe5 Cash Ilows from operamng ac16vFlles Cash generated from opeToh5 50.661 29.4621 Nel cosh used in operoting octNIt 50.461) 29.4621 Cush flow5 fvtsm Inve511ng acllvlftes Pvrchose of intongible fixed ossets Interesl received (41,022) 3,132 Nel cosh (used inllryovKled by investng octkwlS 37.8901 Cosh Ilows from ffnonclng ocllvnies New loan5 in yeor Loon repoymenls in yecr 100.¢J)o 13.249 16.666 Net coth Iu5ed in110VIded by finoncng tsctmties 16.666 86.751 Change In cash and cash eqth%falents In the weporting period Cash ond ea5h eqUIvanI5 01 the beg5nnlng or the reporllng perfod {105.217) 57.971 306.244 248.273 Cash and cash equivalents olthe end of the reporttng pewlod 201.027 306.244 The notes r(m7 port of these finonciol slolements Poge 8
Sandhurst Irvst Notes to the Co5h Flow Stafement lor the Yeor Ended 31 December 2023 RECONCIUATION OF NET EXPENDITURE TO NEf CASH FLOW FROM OPERATING ACTIVfflES 31.12.23 31.12.22 Net exp•ndtlure lorlhe rep9 pewiod {05 perlhe Stalem•nl ol Flnonclol Acmvttles) Adlvstrnenls lor. Interest received Decrea5ellincreosel in stocks Increose in debt5 Increase in credilor5 (42.7691 13.132) 3.474 (69.4011 61,167 16821 133.4321 127.796 Net cash used kn opewallons 50.661) 29.4621 ANALYSIS OF CHANGES IN NE[ FUNDS At 1.1.23 C05h flow At 31.12.23 Nel co5h Co5h ot bank and in hond 306.244 105.21 201,027 306.244 105.217 201,027 Dèbt Debtr5 folling due %*ilhin T yeor Debts folling due olter l year {16,667J 70.084 (16,6671 53.4181 16.666 86,751 16.6é6 0,085 Total 219.493 88,551 130.942 The notes ftym po¥1 of these financiol stotements Poge 9
SondhurstTrust Note5 lo the Finonciul Statements for the Yetr Ended 31 December 2023 ACCOUNTING POIICIES Basls ol preporln9 the flnanclol slutements The linonciol stotements of the chonloble compony. which ts a publc benefit enltFy under FRS 102. hove been prepared in accixdance wth the Charities SORP IFRS 1021'Accounling and Reporting by Choritie5". Slolement of Recommended Proctice opplicoble to chorilies ryeporing their accounts in accordance with rhe Financial Repuling Stondord opplicoble in the UK ond Republic of kelond IFR5 1021 lefteclive I January 20191,. F1noncial Reporting Stondord l D2'The nanCIal Reporting Standard opplicoble in the UK ond RepUtlC of Irelond. and Ihe Companies Act The financial statemen15 have been prepared under the histrurol cost convenlKJn. Incorne All income ts recogntsed in Ihe 5totement ol ffinoncol ActMtEs once the chority has entitlemenl to the funds. it is prOb0b thot thè income wll bè rec&ved ond the amount con be measured relia¥. Expendllure Liabililies are reCOgned a5 expen(fitufe 05 soon a5 there is a legd conslvuclive oblgolion committing Ihe chwty lo that expen4itvre. it 15 tKobobè that o tronsfer of economic benefits will be reoured in Settment ond the amount of the 0gOt10n con be measured reliobty. Expenditvre i4 occovnled for on on occruats bosis and ha5 been c105yfied under heoding5 thut oggregote oll cost relotred to the cotegory. Where c05t5 connot be direclly ottributed to porhcular headings they hove been ollocoted to octivities on o boys consistenl wth the use of resource5. Slocks stocks (Ye volued ot the lowe¥ of cost ond net lea50b volue. after making due ollowonce forctsdete and slow moving item5. Toxallon The charity is exempt Ircwn ccwotion tox on its chyitobk ach"ties. Penslon cts and olher post-rellrement beneffts The choritoble company operotes o defined ¢(lribUtIOn penyon scheme. Contributions payoblt to the choritoble componvs peOn scherye a chcyged lo Ihe 5toFemeril of finonciol Actmties in the period to wkwch they relale. DONATIONS AND LEGACIES 31.1123 31.12.22 Donotions Other income 250,317 742.927 266.587 716.948 993232 983.535 INVESTMENT INCOME 31.12.23 31.12.22 InFeresl receivable- trocsng 3.132 82 Poge 10 continued...
Sandhur51 Trus1 Nole$ lo Ihe Flnanclol Statements- cpnllnued for Ihe Year Ended 310ec*mber 2023 RAISING FUNDS Ratslng donallons ond legacles 31.1213 31.12.22 Direcl costs 671.039 770.619 SUPPORT COSTS Mcnagemenl finance other Tolols other resowce5 expended 317.015 14256 368,094 TRUSTEES. REMUNERAnoN AND BENEFirs There weie no tru5tees' remnerolion LY Other benefits the yeor ended 31 December 2ff23 for the ye(Tr erlded 31 December 22. Twslee5' expenses There were no tnJslees' expenses POKI for yeor ended 31 December 3Y23 for the year ended 31 December 2022. STAFF COSTS 31.12.23 31.12.22 Woges and sae5 Sociol security c05t5 Olher pension costs 261.105 21.896 20.297 244.264 12.223 303298 256.487 The ovwoge monthly number of employees during the Ye wa5 05 foJk)ws'. 31.1223 31.12.22 Stofl No employee5 received emoluments in excess of £.[1x). COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donotion5 and goCES 983.535 hvestrnent income 682 lotal 984.217 EXPENDItURE ON Roi51ng funds 770.619 Other 326.327 lotal 1.096.946 Pagell continued...
Pogell continued...
Sondhuysl Trust Nole5 to Ihe Flnonclal Stalements . contlnued for Ihe Year Ended 31 Decembtr 2023 COMPARAIIVE5 FOR THE STATEMENT OF FINANCIAL ACTIVITJES - conllnued Unre5tricled fund NET INCOMEI(EXPENDifuRE) 1112.7291 RECONCILIATION OF FUNDS rolal funds brought fQOrd 224.581 TOTAL FUNDS CA%ItIED FORWARD 111.852 INTANGIBLE FIXED ASSETS IPR on Medols Computer software TotoL COST At l JorrtJary 2023 Additions 3.180 3,180 41.022 39.942 At 31 December 2023 4,2 39.942 44202 NET BOOK VALVE Al 31 Decembei 2023 4,260 39.942 44.202 At 31 December 20 3.180 3.180 10. STOCKS 31.1123 31.12.22 Stocks 30.109 33.583 DEJTORS: AMOUNTS FALUNG DUE WItHIN ONE YEAR 31.1223 31.12.22 T¥ode debtors other debtOf5 CGS Gront VAT Prepayments and acclued income 44.832 9551 56.327 17.974 20.764 565 110.704 41.303 Poge 12 continued...
Sandhurst Trust Notes to Ihe Flnanclal Slotemefth . cvntinv•d for the Ye<w Ended 31 December 2023 12. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 31.1123 31.12.22 Bank l¢x7ns ond over(trofts Isee nole 141 Trode creditors Social security and other toxes VAT Other credit5 Accruals ond delerred inccrr 16.667 160.361 8.224 10.536 35.652 32.101 16.667 144.941 8.338 3.850 28.578 263.541 202.374 13. CIEDIIORS.. AMOUNTS FAILING DUE AFTER MORE THAN ONE YEAR 31.12.23 31 12.22 Bonk Ioary5 Isee nole 141 $3.418 70.084 14. LOANS An analys of the moturily ol k)ans 15 gwen bdow.. 31.1223 31.12.22 Amounts folling due wilhin one yeor on demond- Bork loons 16.667 16.667 Amounts lal&ng belween one and Iwo year5.. Bank loan5- 1-2 yea 10.667 16.667 Amounls faifirvJ due between two ond fNe yecxs.. Bonk lo(Jns- 2-5 yeaT5 36.751 53.417 15. MOVEMENT IN FUNDS Net movement in fund5 At 31.12.23 At l_1.23 Uniesmcled lunds G6neF151 fund 111.852 {42.7é9) 69,083 TOTAL FUNDS 111.852 42.769) 69,083 Nel movement in tvnds. inckjded in the above (Te 05 Idlows= Incoming resource5 Resources expended Movement tunds Unrestrfded lunds General lun¢J 996,364 (1,039.133) (42.7691 TOTAL FUNDS 996.364 Page 13 continued...
Sondhurst Trusl Nole5 to the Hnonclol 51alemenls- conllnued for Ihe Yevr Ended 31 December 2023 15. MOVEME IN FUNDS- conmnued Comparatlves movem•nt In fvnds Net rTh)vement in funds At 31.12.22 Ati.1.22 Unrestrlcled lunds Generol tund 224.581 1112.7291 111.852 TOTAL FUNDS 224.581 112.7291 111.852 Comporotive net moverrenl in funds. included in the above (Ye as louows.. Incorring resources Resources expended Movement in lund5 Unr•sfvicted funds General fund 984.217 11,090.9461 1112.7291 TOTAL FIJNDS 984.217 1.096.946) 112.7291 A current year 12 month5 ond priry yecy 12 months comtmned is os folows.. Net movement in funds At 31.12.23 Al 1.1.22 Unresmcled lunds General fund 224.581 1155.4981 69.083 TOTAL FUNDS 224.581 155.4981 69.083 A cuFrent year 12 monlhs and yety 12 months ccmlined net movement in funds, included in the obove ore os follow5= Incorrmng resoLYces Resources expended Movement in funds Urweslrtcted Ivnds General fund 1.980.581 12.136.079) 1155.4981 TOTAL FUNDS 1.980.581 2.136.079) 155.4981 Poge 14 conlinued_..
Sandhurstr Trusl Notes lo the finon¢kil Stulements. conttnued for Ihe Yeoi Ended 31 Decembei 2023 16. RELATED PARfY DISCLOSURES There were no reloled p¢yty tronsactions the year ended 31 December 2023. Page 15