Charity number: CIO 1155078 LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) CONTENTS Page Reference and Administrative Details of the Charity, its Trustees and Adviser3 Trustees, Report Independent Examiner's Report 2-10 Statement of Financial Activities 13 Balance Sheet 14 Notes to the Financial Ststements 15-29
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Carol Seigel, Chair Dr Richard Wingate. Wice Chair Jenny Holme {resigned 31 March 2024) Lauren Rhodes Laura Crean Bethan Knights Katy Baett Michael Clayion Sharon Collins Rebecca Atkinson Michelle Williams {appointed 17 July 2023) Charity registered number CIO 1155078 Principal office The Old Operating Theatre and Herb Garret St Thomas's Church 9a St Thomas Street London SE19RY Museum Director Sarah Com (resigned April 2024), Dr. Sophie Waring (appointed 20 May 2024) Accountants Nyman Libson Paul LLP Chartered Accountants 124 Finchley Road London NW3 5JS Page 1
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together the financial statements for the period 1 April 2023 to 31 March 2024. The financial statements comply wth the Statement of Recommended Practi. Accounting and Reporting by Charities preparing their accounts in accordan vth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019) and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102) and the Charits'es Act 2011. The Trustees confirm that the Charity Commission's general guidan on public benefit has been considered in relation to the objectives of the Charity- The report below sets out those objectives and describes how they have been met in the current year. Objectives and Activities a. Charitable Purpose The Old Operating Theatre Museum and Herb Garret (OOT) is govemed by the Lord Brock Trust (LBT). The LBT'S charitable objects are.. To further the education of the public and medical students in the herttage of medicine, medical treatment and health care by the holding and care of collections and the provision of museums and other activities. In particular, by the maintenance of the building and contents of the operating theatre in the original St Thomas's Church on the site of old St Thomas's Hospital as a place of historic interest for long term public benefit. b. Museum Vision, Mission and Values Vision A wodd where everyone understands the importance of the history of medicine to our lives today. Mission To contextualise the women's operating theatre of old St. Thomas, hospital in the attic of the 18th century church in the heart of London Bridge. Providing immersive educational experiences and conversations about medicine, health and well-being using its collection. and voices past and present. Values Welcoming - Captivating - Inspiring - Ambitious c. Main Charitsble Activities Offering a leaming environment for visitors through displays and exhibitions, outreach and online resources Delivering talks, events and schools programmes Applying for funds from trusts, foundations and grant giving bodies Developing the building and the displays to improve access and interpretation d. Investment Policy and Perfomiance In accordance with the trust's constitution. the trustees have the power to deposit or invest funds, employ professional fund manager and aange for the investment or other propety of the trust to be held in the name of a nominee subject to the Trustee Act 2000. The bulk of the trust's free reserves is currently held in a common investment fund (COIF) managed by CCLA Investment Management Limited. The COIF fund has performed well over the last 5 years against a &year benchmark of 9.44 % (CPI plus 5°A) and the 5-year comparator benchmark of 7.08%, holding a balance at 31st March 2024 of £149.130. This success is partly attributable to COIF'S holdings in US equities, which showed exceptional gains in 2024. Page 2
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 While there was a significant dedine followng the COVID-19 pandemic and another drop in 2023 due to market turmoil. the robust recovery of markets in 2024 has brought our investment balance nearfy back to pre-pandemic levels. Overall, the trustees are pleased with the fiJnd's performance, particularly given COIF'S commitment to its ESG policy, ensuring investments adhere to a strong ethical standard while delivering sustainable returns. e. Summary ofAchievements Introduction On Friday 21 April 2023 the Museum reopened to the public after an extended period of closure to cary out essential maintenance work thanks to a grant from Arts Council England. The Museum has been open to the public for general admissions four days a week, Thursdays through Sundays, and for pre-booked groups on Mondays through Wednesdays. Income & Expenditure Total income this year was £ 415,435 (2022-23: £442,545) and total expenditure was £ 334,758 {2022-23'. £299,278). We generated £309.176 from admissions. groups. talks and shop sales (2022-23.. £184,487) with additional donations of £13,261 (2022-23= £2,065). We were fortunate to receive funds from the followng project grants in the year: The final inslalment of £21,358 from the National Lottery Heritage Fund was received after the project was completed in June 2023. The final instalment of £57,280 from Arts Council England for a MEND grant was also reiVed during the year after the project was completed in July 2023. The total grant received from Arts Council England was £157,230 and the project was supported by a contribution of £42.000 from Richard Upton. the leaseholder of St Thomas's Church. In addition, we received the second £1,000 instslment of a restricted grant fund from Team London Bridge ffLB) for a small partnership project with Southwark College. COIF investment interest income of £5,116 was generated this year {2022-23.' £2,544). Visitors & Engagement We welcomed 33,020 visitors to the Museum this year. a 70Yo increase on the prior year12022-23= 19,4711. This included a free entry day as part of the London Open House Festival in September 2023. Schools & Grou The Education Department offered exdusive access to the museum and our 'Victorian Surgery Brought to Life. talk on Mondays, Tuesdays and Wednesdays. presented by a team of freelance facilitators. This was delivered by a team of freelancers, overseen by the Museum's Engagement Manager beeen April and September 2023. An Education Officer was then appointed but left in January 2024 and the supervision of the freelancers reverted temporarily to the Engagement Manager till the end of March 2024. During their year, the Education Officer intrOdUd a Public Health walking tour and provided resources and readings to bring depth to the freelanS knoedge of surgical and medical history. They also worked hard to ensure consistency and the use of inclusive language in the Surgery talk and established systems for the care and maintenance of handling objects. The school and groups offer has been very successful this year, V welcomed 5,960 school pupils, 1.133 university Students, and 500 people from other special interest of further education groups. Worksho s & Outreach The full extent of the successes of Dr Jenni Hunt's work as the Museum's Outreach Offir can be found in the Page 3
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Museum's Social Value Report. Onsite workshops and events reached 169 people in focus groups wtth 16 participants alongside family workshops during school holidays and half temis. including dedicated SEND-sessions. Offsite activities reach 2121 people through a series of sessions and activities throughout the year. The museum was represented at many local fesb'vals and events hosted by Southwark Cathedral. Team London Bridge, Bankside and St James Primary in Bemondsey. The museum also arranged weekly sessions at Southwark College working wth SEND adult leamers. regular object handling on the main concourse at Guy's Hospital and visits to our local dementia café. Exhibitions To celebrate the reopening of the Museum after its closure in the previous financial year an exhibition of work by local artists was curated in 'Every Body has a Medical History, and ran till late May. In September the Museum hosted an art installation by environmental artist Irma Irsara, Tidal Traces. The piece was made of free hanging instsllation and timelapse videos and drew attention to issues around plastics and organic tidal remnants on the river Thames. A Q&A with the artist and a drop-in family workshop accompanied the exhibition. AcsS As part of our ongoing desire to improve access to the Museum, which is in a Grade Il" listed building, we continued to follow our Accessibility Guide. This provides visitors with information about the venue so visitors can explore more about our space ahead of a MSIL We are a Dementia Friendly Venue as part of The Mayor of London's Dementia Friendly Venues Charter. We have two induction loops and ear defenders and have braille and large print guides available to our visitors at all times. Sho Events & Venue Hire The 'Old Op Apothecary Shop: tiMtested cures for the modem World, generated £43,783 in 2023-24 (2022-23.. £34,467) Our most popular products continue to be our postcards, notebooks, coasters, bespoke products such as ourjewellery ranges from local artists as well as our range of tote bags. Venue Hire operations went through substantial changes this year wth the introduction of a new till and ticketing system in June 2023 and events coordination moving from the engagement team to the commercial team to join with venue hire in January 2024. At the start of the year in April, the Museum launched Lates, v4ith a new cocktail hour offering and hosted a sell- out Christmas Carol performance in December. Another highlight was a lino-cutting workshop by one of the Museum's Artist Ambassadors bringing in a new audience. Events accommodated 1,234 people and generated £22,715. The museum continued to offer private paty hire and filming hire, hosting a total of 13 venue hires and 10 filming hires. This year included a private wedding anniversary. corporate events. book launches, and student and documentary film hires. Venue hires accommodated 584 people and generated £33,837 (2022-23: £15,715). Collection & Inte retation The collection comprises objects and archives totalling over 2,300 items. Though the collection is small, it provides a broad overview of the types of medicines, treatments and surgery used and performed in the old St Thomas, Hospitsl. The collection is made available to the public through our displays and online through our eHive catalogue. In the year till March 2024, we continued to loan 17 objects to Shanbally Museum in Ireland and we lent 4 objects to the Royal College of Nursing. The Museum reiVed donated books, an 1852 copy of Benjamin Traver's Page 4
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Observations in Surgery and a copy of Sir Russell Brocks, Lung Abscess. Between the reopening of the museum in April and August, several areas of interpretation were redone or added to the Museum's display. In collaboration with Bespoken Theatre. Mistress Willow Riddle, hert)al woman, perfomied living history in the museum. Volunteer hosts started to facilitate pomander-making in the museum for visitors. In December, the Museum took ownership of live medical leeches which are popular with our visitors and on social media. In April we inlroduced the new Wirtual Tour of the Museum with Merfin 360 tours, which was further updated with additional content in August (Wisits 2271, Sessions 2049, Users 156, average time spent on tour 4 min 12 seconds.) On 15 June we introduced Bloomberg Connects Free Digital Guide and added a layer of interpretation to our exhibitions as well as accessibility as our guide can be translated into any language on Google Translates. Guide accessed times and language from 15 June 2023 to 31 March 2024. English 1504, Spanish 172, Arabic 159, Italian 67, Japanese 20, Chinese 62. French 44. German 44. Portuguese 11. Polish 2, Hindin 9, Turkish 2, Dutch 18, Kannada 1, Welsh 1, Ukranian 2, Urdu 1, Hebrew 3, Korean 6, Romanian 2, Catalan 2, Russian 3, Czech 6, Danish 1. Total users: 1984. Marketin & Social Media The Museum's marketing plan was updated this year yth a staff training event to facilitate all staff to add content to the Museum's social media profiles. The new online shop was launched in November 2023 with the help of one of our volunteers. The Museum's Facebook. Twitter. Instagram and YouTube profiles continue to grow, Social Media Channels.. FabOOk= Reach 154.7 K. Content interactions 4.7 K, Followers 9.3K, Link Clicks 1.6 K. Instagram.. Reach 24.7K, Content Interactions. 888, Profile Visits.. 10.2K, New follows 452 (8272 total) 435 posts and 25 stories. YouTube'. Views.. 16.6k, Watch time 278.2 hours, New subscribers.. 62 0t31 188). Linkedln Insights.. 177 new followers. A transfer from Hootsuite to Buffer and If This Then That (ITFD in the last quarter of 2023-24 resulted in the loss of some of our data for our social media impact. particularly on Twtter. The Museum purchased advertisements on Facebook and Instagram to promote events. The Museum was featured in Iwo editorial pieces in the Bermondsey Biscuit and Southwark News. The Museum and out events were featured on China Daily, Wisit London. lan Visits, Bindy Street, London x London, London Out Out, New Scientist, Department for Science Innovation, Group Leisure & Travel's Annual Coach Excursion, Londonist, Great Days Out in the Evening Standard, London Metro {artide about medical history), Vera Magazine for Virgin Aidines and British Airways High Life digital magazine. The Museum's TripAdvisor rating remains high at 4.5 out of 5 stars and we are listed as #64 of 3,248 things to do in London. We received a Tripadvisors Travellers, Choice Award for 2024 (meaning we 'consistently earn great reviews and are ranked within the top 100A of properties on Tnpadvisor,). Visitor Feedback and Evaluation The Museum continued its new evaluation methodology. developed and implemented last year as part of a National Lottery Heritsge Fund project, induding a new emoji postcard and sticker wall. Our online Feedback SuNeys for Visitors, Events and Groups were reviewed and updated and complemented with project-specific surveys for activity participants and group leaders. Our Visitor Feedback Survey fomi shared by direct email to pr&booked ts'cket-holders and made available on our website allows us to better understand what developments we can implement based on visitor comments. Further positive feedback received via our exit survey and Emoji cards indudes= Page 5
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 'Unsettling but super interesting. 'So so endearing and interesting. Suth a delicately crafted space with keen concem and consideration towards guest's enjoyment., 'Excellent displays. Grateful to be living with today's medical advances!, 'Really interesting museum, makes me feel very lucky to live in a time with modem medicine. Thanks for preseNing this fascinating place of history. '1 am a doctor in Australia - it's amazing how much has changed in medicine, and yet how much hasn't at all. Fascinating exhibition. Volunteers Throughout the year, we were fortunate to have the support of volunteers who gifted us with 618 hours of their time. Volunteer roles span across social media activity. website support, collection research and blog writing, with the majority fulfilling our Welcome Host role vtho assist wth greeting visitors and answering questions about the Museum. In October 2023 to recognise the increasing contribution that Welcome Hosts give to object handling, informal questions and other organised activities in the Museum Ipomander making, pill-making demonstrations, short guided tours, leech Q&A) their role was renamed Visitor Experience Volunteers. Staff Our Director Sarah Corn left us in April 2024. The Trust would like to thank her for her many years of dedicated hard work, particularly during the very challenging times of the coronavirus pandemic. We welcomed Dr Sophie Waring from The Science Museum Group as the new Director in Spring 2024. We are proud to be an Accredited Living Wage provider. We support all our team members {staff, freelancers and volunteers) wth on-the-job training as well essential workplace training {such as First Aid at Work and Fire Safety for Marshals), along wth i01speCifiC training and development such as Oral History, Volunteer Management, Collection Documentation, Interpretation, as well as neOrkIng opportunities through our membership of the London Museums of Health and Medicine (LMHM). Environmental Sustainabili The Museum is committed to decreasing negative environmental impacts and it is important to us to ensure we are environmentally responsible. This year the Museum continued to follow its Environmental Sustainability Policy and action plan, recycling a total of 861 kg of waste induding all batteries used by the Museum, through the waste and recycling company Recorra. We continue to live by our commitment to source UK shop products and the Museum has ongoing relationships wth local producers and small businesses. Pro ect Grants and Partnershi We reiVed funding towards specific projects and activities throughout the year as well as working in partnership wth other local organisations. Medi-culture For seven centuries, the London Bridge area has been one of the world's most significant sites for the development of healthcare, science and wellbeing= lifevchanging work that continues now and into the future. We are proud to be a key partner in the local Business Improvement District's (Team London Bridge) 'Medi-Culture' vision to tell this story with our local community. We participated in and signrficantly contributed to the fifth and sixth medCultUre Festivals held in October 2023 and March 2024, which offered a programme of free events including talks. panel discussions, workshops and walking tours themed around the history of medicine and the future of health. 's & St Thomas, Foundation GSTF We have an ongoing partnership wth GSTF as our object collections and desire to tell the history of St Thomas. Page 6
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Hospital and its legacy closely align. The Trust partially funds the post of the Museum's Community Engagement Officer. Arts Council En land ACE The final culmination of Arts Council England 'MEND° project was completed by July 2023 with the fitting of the blind for the pyramid skylight. The museum has also been part of MEND Programme Evaluation - Heritage Science Project at UCL led by Dr Mim Andrews {completed in September 2024). Inclusive Pers ective Ltd As part of the Museum's continuing ambition to embed inclusion into all aspects of rts work, from employment to content a Strategy Day was held on July 4 2023 wth specialist consultant Lenna Cumberbatch. Key activities in the Museum are now infomied by an Action Plan overseen by the newly established Equality, Diversity and Inclusion Working Group fomied of a quorum of Trustees. This was funded by a donation from Simon Chaplin. Realworth Social Value Re ort The Trust commissioned a report on the Museum's 'social value, to assist the Museum in accessing new funding sources, by evidencing g to potential funders the potential depth of impact that their sponsorship or investment could have on visitors, partj'cipants and beneficiaries. Using Social Return of Investment (SROI) measurements, Realworth takes the changes to people's lives and expresses these in monetary amounts. These amounts are an indicator of social change, for example, they include the amount the NHS or the police force may have to spend if the development had not improved the lives of some people. For every £1 spent to deliver the Museum's activities, £6.93 of social value was created for society- For every £1 spent on proposed future activity, £8.95 of social value wll be created for society. This report was paid for by Richard Upton, the leaseholder of St Thomas's Church. Placements with Universi Students Kin 's Colle e London Under raduate Research Fellowshi Partnership wth KCL, Guy's & St Thomas. Foundation Trust. Two students were given funding for a part-time short research fellowship to create an annotated bibliography of patients, stories. Kin s Colle e London Comms Sci 3rd ear ro ect student lacement (Semester B 2024, Jan-march). Herbals & Pharmaceutical by Ella Mathison, which won the award for Best Finished Product. It is now a magazine in the Waiting Room and each section is an individual blog post on the Museum website. Goldsmiths Universit Public Histo Work Placement (Jan-mar): Caspar Allen researched and produced blog posts about sailors at Old St Thomas, Hospital. UCL Institute of Archaeolo Museum Studies Placement.. Genevieve Holt assisted wth the research and redisplay of the Anatomy & Dissection Bay. Patrons Susan Standring MBE, PhD, DSC, FKC, FRBS, Hon FAS, Hon FRCS and Sir Bary Jackson MS, FRCS, FRCP, FRCSGlas, FKC continue to act as ambassadors for the Museum, advocating on our behalf and supporting our work in their role of Patron. This is an honorary role for vthich we are extremely grateful . Our outgoing Trustee Professor Richard Wingate, MAP, DPhil. has agreed to become our third Patron. As a Professor of Developmental Neurobiology at King's College London. Richard will continue to help develop further links beeen the University and the Museum. Future Plans The strategic goals of the charity are as follows= To be financially sustainable by minimising expenditure and ethically maximising income. To ensure good govemance with clear management, operations and environmental awareness. To reduce barriers to diversity in both the staff and audience. to diversify the interpretation of the collection and to improve its accessibility wth a hybrid digital and on-site offer. To develop and expand our space offering the most authentic medical museum experience in the UK. To maintain sector leadership, increasing organisational standing in the heritage sector excellence in ourwork and practice. Page 7
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial Review a. Going Concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Trust 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. The Trust is maintaining financial stability through effective project and financial management, forecasting, budgeting and continual improvement of procedures and monitoring. Furthermore, we have increased our offer by hosting more education. events and venue hire which are generating income, as well as increased marketing and social media activity. b. Financial Risk Management Objectives and Policies The Trustees confimi that they have identified and reviewed the major risks to which the trust is exposed and have established systems to mitigate these.. Govemance & Finance= the risk of no clear objectives or strategy and the loss of key staff is mitigated by our strategic business plan. our financial planning and budgets and open & dear recruitment and management processes. Operational risk.. the risk of low visitor satisfaction and associated loss of visitor income is mitigated by quality ontrol procedures as part of our Museum Accreditation. Compliance risk.. The risk of fines, penalties or censure from licensing or activity regulators is mitigated by compliance with all HMRC and Charity Commission regulations. A risk register is maintained and regularly revIevd and a Financial Controls Policy is in place. . Reserves Policy Reserves are needed to bridge the gap between spending and receiving of resources and to cover unplanned expenditure or downtum in business. The trustees review anticipated expenditure, income targets and budget lines on a regular basis, taking into account planned investment and operating programmes. The Trustees consider the minimum level of reseeS target to be covering six months of operational costs, approximately £167.000. At 2024 year-end, the Trust had combined reserves of £641.025 comprising: Designated funds (building) Restricted funds (general) Unrestricted funds (general) £ 233,996 £204,625 £ 202,404 A sum representing the long leasehold interest in the building from which the trust operates is held in a separate fund designated by the trustees for this purpose. The unrestricted funds above represent 5 months of the budgeted expenditure for 2023-24. Structure. Govemance and Management . Constitution The Lord Brock Trust is constituted under a Deed dated December 2013 and 15 registered as a Chariitable Incorporated Organisation, amended on 01 Aug 2022. Before incorporats'on, it operated for many years as the Page 8
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Lord Brock Memorial Trust, an unincorporated charitable trust. Throughout 2021-22, the Trust worked wtth a Business Consultant to assess its constitution to ensure it was still fit for purpose. As a result, amendments were identified. as well as the need to update the objects. These were discussed and approved by the Lord Brock Trust in January 2022 and the request to update the charitable objects was submitted to the Charity Commission, which was approved by them in June 2022. A Resolution was passed at the July 2022 board meeting to adopt the new objects. and this along with additional constitution updates were approved by the board. b. Recruitment, Appointment and Election of Trustees The management of the charity is the responsibility of the Trustees who are elected and C0p1ed under the tems of the Trust deed. Under the terms of the Deed there are a minimum of three trustees who are elected to serve for a period of three years, such temi of office being renewable up to three terms. The trustees may appoint other trustees who they believe wll assist them in fulfilling the Trust's objectives. New trustees are sent the latest annual accounts, the most recent copy of the forward plan, and other important current strategic documents. As part of the induction process. new trustees have a meeting with the Chair andlor the Director to discuss the current issues facing the Trust. its plans and ambitions, and their role as a trustee. They are also invited to the Museum to meet the staff team, and understand their responsibilities and concerns. In future, we plan to send new trustees fvrther background material on the role of a charity trustee, such as that provided by AIM (Association of Independent Museums), and the CGA (Cultural Governance Alliance) The Vice Chair of the Trustees, Professor Richard Wingate, has come to the end of his terms of office and agreed to join the Trust as a Patron. The Treasurer, Jenny Holme, resigned from her position in March 2024 and Trustee Michael Clayton was appointed Treasurer . Michelle Williams also joined the Trustees in July 2023. c. Pay Policy for Senior Staff The trustees consider the key management personnel of the charity are those in charge of directing and controlling, running and operating the Trust and the Museum on a day to day basis. No trustee received remuneration or expenses in the year, as disdosed in note 12 to the accounts. The pay of the senior staff is reviewed annually. Pay increases are at the discretion of the trustees and details are outlined in the employee handbook. In view of the nature of the Trust, the salaries are benchmarked against pay levels in other similar organisations. d. Organisational Structure and Decision Making Strategic direction is given by the Trustees and carried out by the staff, via the Museum Director of the Old Operating Theatre Museum and Herb Garret. 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 ACpted 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 its incoming resources and application of resources. including its income and expenditure. for that period. In preparing these financial statements, the Trustees are required to.. select suitable arxounting policies and then apply them consistenUy- observe the methods and principles of the Charities SORP {FRS 102)- Page 9
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 make judgments and accounting estimates that are reasonable and prudent- stste whether applicable UK Accounting Standards (FRS 102) have been followed. subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the ffinancial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charily (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order the members the board 22 October 2024 and signed on their behalf by.. Trustees on Carol Seigel Chairperson Michael Clayton Treasurer Page 10
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent Examinerfs Report to the Trustees of Lord Brock Trust (The Old Operating Theatre Museum and Herb Garret) ('the Charity.) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024. 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 Charitys accounts Caled out under section 145 of the 2011 Act and in carrying out my examination I have foll0vd the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent Examiner's Statement Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. Your attention 15 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 in accordance wth the Financial Reporting Stsndard 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. l 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 Prath'ce effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act., or the accounts do not accord those records.. or the accounts do not comply wth the applicable requirements conceming 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. I have no concems 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. This report is made solely to the Chariws 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 l am required to state to them in an Independenl 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. Page11
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Signed.. Dated.. 13 December 2024 Andrew Thomas ACA Nyman Libson Paul LLP Chartered Accountants 124 Finchley Road London NW3 5JS Page 12
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Restricted funds 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations, grants and legacies Charitable activities Investments Other income 66,519 34,624 309,176 5,116 101,143 309.176 5,116 248,431 187,487 2,544 4,083 Total income 66,519 348,916 415,435 442,545 Expenditure on: Charitable activities 12,422 322,336 334,758 299,278 Total expenditure 12,422 322,336 334,758 299,278 Net income 54,097 9,328 26,580 (9,328) 80.677 143,267 Transfers belween fvnds 16 Net movement in funds 63,425 17,252 80,677 143,267 Reconciliation of funds: Total funds brought forward Net movement in funds 141,200 63,425 419,148 17,252 560,348 80,677 417,081 143,267 Total funds carried fonNard 204,625 436.400 641,025 560,348 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 15 to 29 form part of these financial statements. Page 13
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets 12 442,124 376,778 442,124 376,778 Current assets Stocks Debtors 13 14 6,471 29,227 193.727 9,634 80,129 160,874 Cash at bank and in hand 229.425 250,637 Creditors.. amounts falling due Ythin one year 15 (30,524) (67,067) Net current assets 198,901 183,570 Total assets less current liabilities 641.025 560,348 Total net assets 641.025 560,348 Charity funds Restricted funds 16 204.625 141,200 Unrestricted funds Designated funds General funds 16 233.996 202.404 236,551 182,597 16 Total unrestricted funds 16 436.400 419,148 Total funds 641,025 560,348 The financial statements were approved and authorised for issue by the Trustees 22 October 2024 and signed on their behalf by.. on Carol Seigel Michael Clayton The notes on pages 15 to 29 form part of these financial statements. Page 14
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General infomiation The entity is a Charitable Incorporated Organisation registered with the Charities Commission for England & Wales. Its registered number is CIO 1155078 and its registered address is The Old Operating Theatre and Herb Garret, St Thomas's Church, 9a St Thomas Street, London, SE1 9RY, which is also its principle place of operation. The principal activity is that of running a musuem. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance wth the Charities SORP (FRS 1021 Accounting and Reporting by Charities= Ststement 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial ststements have been prepared to give a Irue and fairf 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 followng the Charities SORP (FRS 102) published 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. Lord Brock Trust {The Old Operating Theatre Museum and Herb Garret) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otheiSe stated in the relevant accounting policy. 2.2 Going Concem Based on their assessment of the charitys finanS and general circumstances, the trustees are of the opinion that the charity is a going concem for at least 12 months following the date on which the balance sheet was signed. 2.3 Income All income is recognised once the Charty has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes bLrt not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advan of entitlement of receipt, its recognition is deferred and induded in creditors as deferred income. Where entitlement occurs before income is received. the income is accrued. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. Page 15
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued) 2.4 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. Central staff costs are allocated on the basis of ts'me spent. and depreciation charges allocated on the portion of the asset's use. Expenditure on charitsble activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is indusive of irrecoverable VAT. 2.5 Interest receivable Interest on funds held on deposit is induded vthen receivable and the amount can be measured reliably by the Charity- this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.6 Taxation The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within catagories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to chantable purposes. 2.7 Tangible fixed assets and depreciation Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impaimient losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tsngible fixed assets less their residual value over their estimated usefiJl live5, Depreciation is provided on the foll0vng basis= Long-temi leasehold property Fixtures and fittings Computer equipment Leasehold improvements 1% per annum on a straight line basis 25°/ per annum on a reducing balance basis 25% per annum on a reducing balance basis 30h per annum on a straight line basis Page 16
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued) 2.8 Stocks Stocks are valued at the loVr of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. 2.9 Debtor5 Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid. 2.10 Cash at bank and in hand Cash at bank and in hand includes cash and short-temi 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. 2.11 Liabilities Liabilities are recognised vthen 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 wll 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. 2.12 Heritsge assets The Charity holds a collection of objects and archives (comprising over 2,300 items) relating to the types of medicines, treatments and surgery used and performed in the old St Thomas. Hospital and which were primarily donated to the Museum. These items are of historic and scientific interest, are made available to the public and meet the definition of a heritage asset. Given the unique nature of many of the assets it is difficult to estimate or attribute a value to them and the cost of doing so is considered detrimental and of no commensurate benefit to the Objects of the Trust. Therefore, as pem)itted by the Charity SORP under exceptional circumstances, the assets are not recorded on the balance sheet. 2.13 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. 2.14 Cash Flow Exemption The Charity, as a small reporting entity, has tsken advantage of the option not to publish a cash flow statement. Page 17
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued) 2.15 Fund accounting General fvnds are unrestricted ndS 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. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fvnd is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs 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. Investment income, gains and losses are allocated to the appropriate fund. Income from donations and legacies Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Grants 66,519 21,363 13,261 87,882 13,261 246,366 2,065 Donations 66,519 34,624 101,143 248,431 In the prior year restricted grant income totslled £142,507 and unrestricted grant income totslled £103,859. All income from donations was unrestricted. Income from charitable activities Unrestricted funds 2024 Total funds 2024 Total funds 2023 Museum income 309,176 309,176 187,487 Total 2023 187,487 187,487 Page 18
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Investment income Unrestricted funds 2024 Total funds 2024 Total fund5 2023 Interest income 5.116 5.116 2,544 Total 2023 2,544 2,544 Other incoming resources Unrestricted funds 2024 Total funds 2024 Total funds 2023 Other income- insurance payout 4,083 Total 2023 4,083 4,083 Analysis of expenditure on charitable activities Summary by fund type Restricted Unrestricted fvnds funds 2024 2024 Total 2024 Total 2023 Operational costs of the Museum 12.422 322,336 334,758 299,278 Total 2023 6,832 292,446 299,278 Page 19
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure by activities Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Total funds 2023 Operational costs of the Museum 302,363 32,395 334,758 299,278 Total 2023 272.678 26,600 299,278 Page 20
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure by activities (continued) Analysis of direct costs Total funds 2024 Total funds 2023 Agency Staff and Freelancers Building Maintenance Business Rates and Service Charge Collection Management Computer and Intemet Consultancy Engagement Events 19,957 6,534 6,608 1,276 11,599 3,745 4,464 6,033 6,296 14,217 12,817 5,834 4,105 3,714 5,210 7,317 805 1,863 6,466 16,984 (6,400) 50,975 10,023 138,721 3,220 3,274 1,024 210 6,516 Marketing Office other Projects Shop Stock and Sundries staff costs 3,574 22,716 176,850 3,727 1,455 1,370 1,011 10,931 Staff Training Subscriptions Volunteer Expenses Utilities Venue Hire 302,363 272,678 Page 21
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure by activities (continued) Analysis of support costs Total funds 2024 Total funds 2023 Accountancy and Payroll Depreciation Insurance Architects and Planning 10,764 10,061 11,570 13,158 3,754 8,402 1,286 32,395 26,600 Independent examinerfs remuneration 2024 2023 Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts 4,140 4,410 10. Staff costs 2024 2023 Wages and salaries Social security costs Contribution to defined contribution pension schemes 159,958 5,486 11,406 125,540 5,126 8,055 176,850 138,721 The average number of persons employed by the Charity during the year was as follows.. 2024 2023 Employees 14 Page 22
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Staff costs (continued) No employee received remuneration amounting to more than £60,000 in either year. Key management during the year comprised the Museum Director. The aggregate remuneration of key management for the year amounted to £43.034 {2023.' £33.855). 11. Trustees, remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 March 2024. no Trustee expenses have been incurred (2023- £NIL). 12. Tangible fixed assets Long-temi leasehold propety Leasehold Computer improvement equipment Office equipment Total Cost or valuation At 1 April 2023 Additions 255,497 4,094 13,346 135,862 75.407 408,799 75,407 At 31 March 2024 255.497 4.094 13,346 211,269 484,206 Depreciation At 1 April 2023 Charge for the year 18.946 2.555 2.444 413 10,325 755 306 32,021 10,061 6.338 At 31 March 2024 21.501 2.857 11,080 6,644 42,082 Net book value At 31 March 2024 233.996 1.237 2,266 204,625 442,124 At 31 March 2023 236,551 1,650 3,021 135,556 376,778 13. Stocks 2024 2023 Shop Stock 6,471 9,634 Page 23
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Debtors 2024 2023 Due within one year Trade debtors 3,800 15,280 10,147 5,821 63,005 11,303 Other debtors Prepayments and accrued income 29,227 80,129 15. Creditors: Amounts falling due within one year 2024 2023 Trade creditors other creditors Accruals and deferred income 10,408 2,467 17,649 58,715 71 8,281 30,524 67,067 Page 24
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Statement of funds statement of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Income Expenditure Unrestricted funds Designated funds The Old Operating Theatre 236,551 (2,555) 233,996 General funds General Funds National Lottery 182,597 327,558 21.358 (316,207} 13.574> 8,456 (17.784} 202,404 182.597 348,916 (319,781 } (9,328} 202,404 Total Unrestricted funds 419.148 348.916 (322,336} (9,328} 436,400 Restricted funds Guys & St.Thomas' Foundation Contribution to Mend project- Richard Upton Arts Council MEND TLB Urban Zen Garden 6.084 (6,084} 41.995 17.440 1,000 41,995 162,630 141.200 16.338> 10,328 (1,000) 141.200 66.519 (12.422) 9,328 204,625 Total of funds 560,348 415.435 (334,7581 641,025 Page 25
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Statement of funds {continued) The designated fund represents the long lease on the charity's premises, The Old Operating Theatre. the Trustees are of the opinion that this represents a designated fund, as expenditure relating to this cannot be distributed or any relating income be spent, other than in accordance with the lease. The depreciation of the lease is charged against this fund. Restricted funds comprise.. Guy's & St Thomas, Foundation: A financial contribution was made to the Trust to cover the cost of the Community Engagement Officer position for 1 day per week for 6 months. Arts Council Mend.. This relates to a capitsl grant provided by the Arts Council to improve the charity's leasehold property. The costs have been capitalised in line with the requirement of the grant and depreciated over the assets useful life, vthich is estimated to be 35 years. The transfer in reflects the contribution of costs from Lord Brock Trust to the Skylight project. Page 26
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Statement of funds {continued) statement of funds - prior year Balance at 31 March 2023 Balance at 1 April 2022 Transfers inlout Income Expenditure Unrestricted funds Designated funds The Old Operating Theatre 238,618 (2,067) 236,551 General funds General Fund National Lottery 173,933 196,179 103.859 (221,352} (69.027> 33,837 (34.832} 182,597 173.933 300,038 (290,379} {995} 182,597 Total Unrestricted funds 412.551 300.038 (292,446} (995} 419,148 Restricted funds Guys & St.Thomas' Foundation Arts Council MEND TLB Urban Zen Garden 4.530 (4,530} {307) (1,995} 141,507 1.000 141,200 995 4,530 142,507 (6,832} 995 141,200 Total of funds 417.081 442.545 (299,278> 560,348 Page 27
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Summary of funds Summary of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Income Expenditure Designated fvnds General funds Restricted funds 236.551 182,597 141.200 12.555> (319,781} (12,422} 233,996 202,404 204,625 348,916 66.519 (9,328) 9,328 560,348 415,435 (334,758) 641,025 Summary of funds - prior year Balance at 31 March 2023 Balance at 1 April 2022 Transfers inlout Income Expenditure Designated funds General funds 238.618 173,933 4,530 (2,067} (290,379) (6,832) 236,551 182,597 141,200 300,038 142,507 (995) 995 Restricted funds 417,081 442,545 (299,278} 560,348 18. Analysis of net assets between funds Analysis of net assets between funds - current period Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due wthin one year 204,625 237,499 229,425 (30,524) 442,124 229,425 (30,524) Total 204.625 436,400 641,025 Page 28
LORD BROCK TRUST (THE OLD OPERATING THEATRE MUSEUM AND HERB GARRET) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Analysis of net assets between funds Icontinued) Analysis of net assets betWn funds - prior period Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due wthin one year 135,556 66,377 (60,733> 241,222 184,260 (6,334) 376,778 250,637 (67,067) Total 141.200 419,148 560,348 19. Related party transactions The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing been related parties and the Charity at 31 March 202412023.. None). Page 29