THE P G & N J BOULTON TRUST LIMITED (a company limited by guarantee) ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Registered Charity N(>. 1158431 Registered C'ompany No. 08933963 Hailwood & Co Chartered Accountants
THE P G & N J BOULTON TRUST LIMITED (a company limited by guarantee) YEAR ENDED 31 MARCH 2024 CONTENTS Page Infonnation Trustees, Annual Report (Including Directors, Report) Independent Examiners, Report Summary Income lind Expenditure Account Statement of Financial Activities (Including Income and Expeiiditure Account) Balaiice Sheet Notes to the Financial Stateinenls 10- 16
THE P G & N J BOULTON TRUST LIMITED (a company limited by guarantee) YEAR ENDED 31 MARCH 2024 INFORMATION CHARITY REGISTRATION NUMBER: COMPANY REGISTRATION NUMBER.. INCORPORATED IN ENGLAND & WALES 1158431 08933963 TRUSTEES Mr A L Perry Mrs S Perry Mr P H Stafford Miss M Jardine-smiih INTERNET ADDRESS http'./lwww.boultontru.8t.org.uk REGISTERED OFFICE The P G & N J Boulton Trust Limited 392 - 394 Hoylake Road Moreton Wirral CH46 6DF INDEPENDENT EXAMINERS Hailwood & Co 392 - .394 Hoylake Road Moreton Wirral CH46 6DF BANKERS Lloyds TSB plc I si Floor .35.5 W()odchurch Road Birkenhedd, CH42 8PE SOLICITORS Lees Solicitors LLP 44145 Hamilion Square Birkenhead Witral CH415AR STOCKBROKERS Barclays Investment Solutions Limited I Churchill Place London E14 5HP PROPERTY MANAGERS Neston Property Management Limited clo 38-40 King Street Wallasey Wirral CH44 8AU
THE P G & N J BOULTON TRUST LIMITED (a company limited by guarantee) TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their report and the financial .%tatements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Stalernent of Recommended Practice (SORP) Accounting and Reporting by Charities in preparing the annual report and financial statement,s of the charity. The tinancial stalements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's goveniing document, the Charities Act 2011 and Accountiiig and reporting by Charities.. Statement of accordance with the Financial Reporting Standard applicable in the UK and Republic of treland published in Recommended Practice applicable to charities preparing their accounts in October 2019. Reference and Administrative Details of the Charityg its Trustees and Advisers The registered name of the Charity is The P G & N J Boulton Trust Limited (charity number 1158431) (company number 8933963). All the Trustees who Served during the year are listed below. Delail.s of the registered office and the Charily's professional advisers are listed on a separate page at the front of the accounts. Structure, Governance and Management Cc)n,slitufic)n and c)rganiJalic)n The P G & N J Boulton Trust Limited was inLorparated on I l March 21)14 and began trading l April 201.5. The coinpany was est(Iblished uiider its Memoi'(Induni of AssoLldlion, lind il.% aiiii.s, objecl8 dnd powers al'e eslablishcd under the Articles of Association. In the event of the company being wouiid up mcnibei-s arc i'equired io conlribute the amount nol exceediiig £10.00. Direc'tor.¥ and Tru.flee,v The directors of the company al'e also charity ti'u.slees, those who served during the yedr were:_ Mr A L Perry - Chairn]an Mr P H Stafl'ord Mrs S Perry Mibs M Jardine-smith Method of apJ)uintntent New trustees are appointed by the existing truslee% based on their ability to benefit the organisation with their skills and knowledge. As there is no real need for specific trliining, Polential Trustees are encouraged to attend a number of meeiings prior to their appointment. Risk Maiiageinenl The trustees have reviewed the major risks facing the charity and have taken action to ensure that there are procedures and policies in place to address these risks. Objectives and Activities Charilable objectives The objects of the Trust, as set out in the Articles of Association, are to provide financial assi.stance, without distinction between capital and income tor any charitable purpose thal the Trustees at their uncontrolled discretion consider to be worthy ot asslstance.
THE P G & N J BOULTON TRUST LIMITED (a company limited by guarantee) TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2024 (continued) Objectives and Activities (continued) Activities The trustees fulfil these aims by making donations to other charities and by minimising administration costs, The trustees aim to target the smaller charities, to whom a relatively small gift can make a significant difference. Whilst a substanlial proportion of donations is allocated to Christian missionary work in accordance with the interests of the trustees. a wider interest is maintained by covering other are4lS such as poverty relief, medical Tesearch, healthcare and disability relief. Achievements and Performance During the year, the Trust made charitable donations tolalling £77,500, and kept governance costs to within sfo (2023.. 410) of the net inconie from investment%. Durii)g the year, the Trust gcive tinancial assislance to 16 different causes who,se work has aftected the lives ot. people all over the world, iiicluding the UK. Financial Review The iolal value of the cumpaiiy's assel.4 have illLI-eased by £92,925 to £.5 .92 million (2n2.3.. £.$ .82 millioii). The decrease ha4 been niainly due io a fall in ihe properly markel over tlic pasi yeai-, deci-easing ihe value of the investmeni propeilie%. SuInc pi-c)peilie% slill require refurbislinieiit work wliich will happen as aiid wheii they beLome vacant, this has beeii reflected in ihe ye¢ir end valualion. There h¢lS also been a f(Ill in ihe value ol quoted investments. Reserye,s Policy The Irust has no plans to furiher build up unre%tricted reserves although the level of reserves can vary depending upon UK property <ind stock market pertonnance. The trustees generally look to distribute all of the Charity's realised income. Investment Powers, Policy and Performance The trustee8' investment powers are governed by the Articles of Association, which pemiils the Charity's funds to be invested in aiiy way io further its objects. The trustees invest the charity's reserves in properly and the stock market, although there is a bias towards property. The charity's stockbrokers are instructed to maximise income without exposing the charity's funds to undue risk, but otherwise, control of the porttolio is then passed to them. A full refurbishmenl on two properties occured in the year. The refurbishments cost £94,475 in total with an additonal £6,000 expected to be spent next year.
THE P G & N J BOULTON TRUST LIMITED (a company limited by guarantee) TRUSTEES, ANNUAL REPORT {INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2024 (continued) Financial Review (continued) The average return compared to the value of ihe Charity's investments can be analysed as follows.. 2024 2023 Property - Income Capital I.70 2.2CYo -0,910 2.6% Quoted shares - Income Capital 2.6C70 6.5% 2.7% -7.3(Yo 9.1(70 -4.60/0 Cash 0.070 o.olo This reflecl.% an increase in ihe slock m¢irket un investmenl.% still held aiid an inci'eaie in the value of the investinent pruperties. The housing market over the P<lSt year has steadied after the significant increases in prior year.4. In lotal there are Iwo properties still needing modernisation. The return on cash inveslments remained as nil. The inve%tiiient properties have been valued by B.A.Riley RICS who has experience of the local area. Tlie valuation takes into account ihe current hou8ing m<irket .%ituation which has incredSed over tl)e pa.st year, plus refurbishmenl works. The quoted shlires also decreased by the year end, Ihe valuation was provided by Barclays investment solutions limited. There was one void property al the year end. There is one fonner tenant who still owes arrears and is only paying minimal amounts. The arrears continue to be monitored each Month and a provision for these earS has been made during the ye. There has been no significant change in making donations to the benefiCi¢s. The accounts have been prepar¢d on a going concern basis. Future Plans Any properties which require refurbishment and modernisation will continue to happen as and when they become vacant. The properties will continue to be maintained on a cyclical basis and this work will be financed from the income they generate.
THE P G & N J BOULTON TRUST LIMITED (a company limited by guarantee) TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2024 (continued) Statement of Trustees, Responsibilities The trustees (who are also directors of The PG & NJ Boulton Trust Limited for the purposes of company law) are responsible for preparing ihe Trustees, Annual Report and ihe financial statements in accordance with applicable law and United Kingdoin Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the tniqtees to prepare financial .statements fnr each financial year. which give a true and fair view ot the state of affairs of ihe charitable company and of the incoming resources and application of resources, including the income and expendilure, of the chiwitable company tor that period. In preparing these financial statements, the Irust¢es are required to: select suitable accounting policies and apply them con8istently' observe lh¢ methods and principles in the Charities SORP 2019 (FRS 102). make judgements and estimates that are reasonable and prudent; state whcthcr applic(Ible UK ALLounting Siandards have been followed, subject to any material departures disclosed and explained in ihe financial staiements: prepare ihe financial .%lalemeiits on the going concern basis unless il is inappropriaie to presume Ihat the charitable company will continue in opei'atioii. The ti-uslee% are iilso rcsponsible for keeping adequatc accounlii)g record5 th£ii diiclo4e with reasonable accuracy at any tiine ihe financial posilioTI Ot Ihe charitable Loinpany and enable Lhem to ensure ihllt tlie financial sliilemenl comply with ihe Companies Act 2006. They are also respon,4ible for safeguarding the a8set8 of ihe chai'il(Ible company and hence for taking reasonable %tep4 for ihe prevention and deteclion of fraud and otlier irregularities. The trustees (who are also the direLtors) who served dui'Ang the year and up to ihe dale of the report are set out on page l. In planning our activities for the year and fuiiire yearq, the Trustees have kept in mind the Chariiy Coinmission's guidance on public benefil. The charity constitutes a public benefit entity as defined by FRS 102. The Truslees report has been prepared having iaken advantage of the small companies exemption in the Companie.8 Act 2006. Signed for and on behalf of the Irustees MrALPerry Trustee 23 October 2024 Mr P H Stafford Trustee 23 October 2024
THE P G & N J BOULTON TRUST LIMITED (a Company limited by guarantee) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 I report to the charity trustees on my examination of the accounfs of the company for the year ended 31 March 2024, which are set out on pages 7 to 16. Responsibilities and basis of report Aq the charity trustee.s of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in aLLordance with the requiremenls of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of ihe company are not required to be audited under Part 16 of the 2006 Acl and are eligible for independenl examination, I report in respect of my examination of your company's accounts as carried out under seclion 145 ot the Charities Act 2011 ('the 2011 Act,). In carrying oul my examination I have followed the Directions given by the Charity Commission under section 14.fj(5)(b} ot the 2011 Act. Independent examiner's statement I have compleied my examination. I confirm that no matters have come to my attention in connection with the exaininalion giving me cause to believe ihat in any iiiaierial respect.. accounting records were not kepi in respect of ihe company as required by section 386 of the 2006 Acl, or Ihe accounis dn nnt accord with iliose recordi.. or the accounls do iiol coniply wilh the accounliiig requirements ot seclion 39() ot" the 2006 Act other than Lllly requiremeiit that the accounl% give a 'true aiid f'air view, which is not a matter coiisidered part of an indepeiidenl examination: or the aLLounts Iiiive not been prep<ired in accordance with thc method% and prinLiples of tlie Statement of Recummended PractÉLe for <iLLounting and i'epoiting by Lharities ¢ippliLable to Lharities prep(Iring their aLcounts in accordance wilh the Financial Reporting Siandard applicable in the UK and Republic of Ireland (FRS 102). I havc no concerns and have come across no other matters in connection with ihe examiiiation to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. ADLL A.D. French F.C.A. Hailwood & Co Chartered Accounlants Moreton 23 October 2024
THE P G & N J BOULTON TRUST LIMITED (a company limited by guarantee) SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 20 Note 2024 2023 Income Gains/(losses) on investments Interest and investment income 177,025 70,949 8,873 170,859 (72,702) 9,495 Total income 256,847 107,652 Expenditure 9,10 ( 163.922) (134,708) Net incomel(expenditure) for the yel 92,925 (27,056)
THE P G & N J BOULTON TRUST LIMITED (a company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Funds 2024 2023 Note Income and endowments from: Investmenls.. Rental income Interesl - deposits Dividends - equities 177,025 170,859 8,873 9,495 Total income and endowments 185,898 180,354 Expenditure on: Raising funds Chintable activities 10 79,557 84.365 47.607 87,101 Total expenditure 163,922 134,708 Net gainsllosses on investments Reali.4ed gains/(loses} Lo%$ Coinpdred to revalued amouiit on property disposal Realised gainsl(Ivsses) on disposal of sliares Unrealised gYdins1{lusses) Revaluation gain/(loss) investnients Revalualion gain/(loss) buildings 884 3b 19,540 50,525 (22,916) (49,752) Net gainsl(losses) on investments 70.949 (72,702) Net income/{expenditure) and net movement in funds 92.925 (27,056) Reconciliation of funds: Tolal funds brought forwlwd 5,822,317 5,849,373 Total funds carried forward 5,915,242 .5,822,317 Movements in reserves are .shown in notes 6 and 7. All income and expenditure derive from continuing activities. The statement of financial activities includes all gains and losses recognised during the year.
THE P G & N J BOULTON TRUST LIMITED (a company limited by guarantee) BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 Note 2024 2023 Investment assets 5,894,767 5,754,987 Current assets Debtors Cash ai Bank 19,586 14,452 31,422 42,816 34.038 74,238 Current liabilities Credilors due in less than one year (13,563) (6,908) Net current assets 20,475 67,330 Total assets less current lilibilities 5,91.f.242 -S,822,317 Unrestricted Funds Accuinul(ited General Fund Revaluation Reserve 1,449,460 4.465,782 1,420,423 4,401.894 Net Assets 5,91.5,242 .5,822.317 For the year endii)g 31 March 2024 the company was enlitled io exemption from audit under secti()n 477 of the Companies Acl 2006 relating to small Lonipanies. DireLtor?>' i'espon%ibilitie%: The members have not required the company LO obtain an audit of ils accounts for the year in question in accordance with section 476. The direclors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with ihe provisions applicable lo companics subject to the small companies, regime. Approved by the Board of Trustees on 23 October 2024 and signed on its behalf by: MrALPerry Truslee Mr P H Stafford Trustee Company number: 08933963 The notes on pages 10 to 16 forni part of these accounts.
THE P G & N J BOULTON TRUST LIMITED (a company limited by guarantee) NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 COMPANY STATUS The charity is a company limited by guarantee, having no share capital. The liability in respect of the guarantee a8 set out in the Articles of Association is limited to £1 O per member of the company. The nature of ihe charily's operations and principal activities are disclosed in the Trustees Report. The company was incorporated in England. The regislered office is 392-394 Hoylake Road. Moreton, Wirral, CH46 6DF. The charity's object.s are to provide financial <iSSlStance. without distinction between capital and income for any charitable purpose that ihe Trustees al their uncontrolled discretion consider to be worthy of assistance. Thc trustees fulfil these aims by makiiig donations to oiher charities ]d by minimising administration costs. ACCOUNTING POLICY (a) Basis of Preparation: Tlie account% have been prepared on a going concern basis under the hi%loric£il cost convention, modified to include the revaluation ot land, buildings and investment8. They have also been prepared in accordance wilh Accounting Iiiid Reporting by Charities.. Stalemenl ot Recommended Practice applicable to charities prepariiig their accouiit.% iii accordaiice wilh tlic F4in<incial Reportii)g Standard applicable iii the UK aiid Republic of Ireland issued in Oclober 2n19, the Fin'incial Reporling .Siandard applicable iii the UniteLI Kingdoin and Republic of Irel¢iiid (FR.8 102). IhL' Chai'ilies Aci 2011, Ihe Compaiiies Acl 2006 and UK Generally ALLepied PracliLe. The charity has not included a cash flow statement as ils income is belnw £500,000. The chariiy constilute% a public benefit entiiy a% defined by FRS 102. The financial Statemcnts are presented iii sterling which is the functional currency of the cliaiily and rounded to the nearest £. A summary of the more important accounting policies is set out below, (b) Investment Revaluation Reserve: Inveslments were revalued at the balance sheet date to reflect market value. Unrealised capital surpluses and deficils arising on the revaluation ot land, buildings and investments are taken to dli investment revaluation reserve. Realised revaluatioij surpluses and deficits are taken to the accumulated genera IAnd and buildings have been valued at open markel value by B Riley RICS and agreed by the Truslees. Listed investments have been valued at ihe middle m£wket price at the close of business on the balance (c) Surplus on Disposal of Investments: The surplus on disposal of investments represents the excess of the sale proceeds over valuation. This surplus has been credited to the accumulaled general fund. Further details are shown in the notes to the fInCIal statements. -10-
THE P G & N J BOULTON TRUST LIMITED (a company limited by guarantee) NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICY (continued) (d) Investment properties: Inve%tment properties for which fair value can be measured ieliably without undue co.qt or effort are measured at fair value at each reporting date with changes in fair value recognised in 'net gainsl(losses) on investments, in the SOFA, DepreLiation is not provided on investment property. Capital expenditure on investment properties is added to the cost of property prior to any adjusiment to reflect the fair value. Any repairs and maintenance considered to be replacements are charged to the incorne and expenditure account. le) Investments: Investments are recogiiised at fair value at each reporting date with changes in fair value recognised in 'net gainsl(losse.s) on investments, in the SOFA as long as the shares are publicly traded or their fair value can be otherwise measured reliably. Income recognition: Income ib recognised in the Statement of Financial Activities (SOFA) when the charity has entitlenient to the funds. any performance conditions allached io ihe ilem(.s) of income have been mel, it i,s probable Ihal thc incoine will be received and the amouni can be Ineasured rcliably, Investinent incnine is eariied tliough holding as%el% for inve%tmenl piiiyoses such a$ Share% and pi'operly. Il includes dividends, intei'e%l and reiital iiiLome. The iiive.%lmeiit maiiiigemenl co%ls are idelililied uiidei. riiisiiig funds. liiterest, divideiid% and renliil income are recognised oi) an accruals basis wlien the charily's righi to receive thi5 income is establi8lied. All of the inLome is attributable to uni'estrALled funds, (g) Expenditure and irrecoverable VAT: Expenditui-e is reLognised once there ib il legal oi. Lonstiuctive obligation to make payinent to a thii'd pariy, it is pi'obable that settlement will be required and the amount of obligation can be measured reliably. Expenditure is accounted for on an accruals basis. Expenditure is classified under the tollowing activity headings,. Costs of raising funds - are those as8ociated with the running and maintaining of all investments. Cogts of charitable activities include donations to other charities, to which there are no conditions attached and not classified as grants, plus governance and administration costs. (h) Debtors and creditors receivable/payable within one year: Debtors and creditors with iio staled inlerest rate and receivable or payable within one year are recorded at transaction price. ID
THE P G & N J BOULTON TRUST LIMITED (a company limited by guarantee) NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 INVESTMENT ASSETS 2024 2023 (a) Freehold land and buildings at valuation Brought forward Additions Surplusl(deficit) on revaluation Realised on disposal Disposals 5,442,000 100,475 50,525 5,478.000 13,752 (49,752) 5,593,000 5,442,000 At 31 March 2024 the properties had an open market value (with vacant po.%session} of £5,593,000 (2023: £.f,442,000 ). This valualion wa% perfornTred by B.A.Riley MRICS who has experience in the location and iype of investment properties being valued. The hisiorical co.sl nf the above properties aniounts to £1,203,421 (2023: LI,102,947}. All inveglmenl properties are siluated within Ihe UK. 2024 2023 {b) Investments listed on recognised UK Stock Exchanges Markel value al siart of year Additions Disposals Net uiirealised investment gains/(los.ses) 312,357 336,123 (30,707) 19,540 (850) (22,916) Market value at end of year Revaluation (surplus)Ideficit 301,190 312,357 (76,203) (62,840) Cost 224,987 249,517 -12-
THE P G & N J BOULTON TRUST LIMITED (a company limited by guarantee} NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 INVESTMENT ASSETS Icontinued) 2024 2023 (c) Cash held as part of investment portfolio On deposit with banks On deposit at stockbroker 577 630 577 630 Total investment assets at year end All investments are held primarily for the return they provide. 5,894,767 5,754,987 DEBTORS 2024 2023 Rent arrears Less: bad debt pr()vision 5,742 (?,40.5) 5,642 (1,195) Net arrear.8 O(her debtors Prepaymeiits 3,-737 4,447 24,760 2,215 19,586 31,422 CREDITORS 2024 2023 Deposits held on behalf of tenants Rent advances Sundry creditors Other creditors 1,849 5.714 6,000 1,425 5,483 13.563 6,908 -13-
THE P G & N J BOULTON TRUST LIMITED (a company limited by guarantee) NOTES TO THE ACCOUIYTS YEAR ENDED 31 MARCH 2024 2024 2023 ACCUMULATED GENERAL FUND Brought forward on l April Nel incomel(expenditure) (page 7) 1,420.423 92,925 1,374,593 (27.056) Unreali8ed losses/(gains) Revaluation (gain}Iloss - investments Revaluation (gain}Iloss - buildings (19,540) (50,525) 22,916 49,752 Redlised gainsl(losses) on di8posal of investments Previously unrealised surplusl{deficit) released from rev&ilualion reservt Realised gain/(loss) on disposal of properties Previously unrealised surplusl(deficit) released from revaluation reserv( 6,177 218 1,449,460 1,420.423 Tlie accumul<lted fund is repi-esented by investmeiit a4%ets of £1,428,985 and net ciirrent a%sels of £20,475. REVALUA TION RESERVES 2024 2023 Land and Buildings Bi-c)ugyhi f()rw(ird Surplusl(deficit) on revalualioii Transferred io accumulated general fund 4,339,053 50,525 4,-388,80.5 (49,752) 4,389,578 4,139,053 Investments Broughi forward SulUSI{def1cIt) on revaluation (note 3b) Transferred (lo)Ifrom accumulated general fund upon sale (note 6) 62,841 19,540 (6,177) 85,975 (22,916) (218} 76,204 62.841 Total revaluation reserves at year end 4,465,782 4,401,894 The revaluation reserve is represented by investment assets of £4,465,782. -14-
THE P G & N J BOULTON TRUST LIMITED (a company limited by guarantee) NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 COMMITMENTS 2024 2023 Brought forward Increase in commitment Expenditure during the year 14,400 6,000 (14,400) 14,400 Commitments at 31 March 14.400 Commitments due within one year Commitments due more than one year 6,000 14,400 6,000 14,400 The above commitment.% relate lo refurbishment work in respect of an investmenl property which has been authorised by the year end. CHARITABLE ACTIVITIFS 2024 2023 Donation8 (note 12) Stationery, po%tage and consumables Suiidrie Inlen)et and admiiii%ti'ation cosl.4 Governance co%t% (note I l ) 77,500 462 518 189 5,696 81,000 432 266 84 5,319 84,365 87,101 10. RAISING FUNDS 2024 2023 Investment management costs Property Expenses Repairs and rates Insurances Collection and letting costs Bad debt provision/write off Stockbroker's fees 44,964 5,460 27,006 1,185 942 16,874 4,846 26,227 (1,255) 915 79,557 47,607 -15-
THE P G & N J BOULTON TRUST LIMITED (a company limited by guarantee) NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 11. GOVERNANCE 2024 2023 Independent examin41tion fees Legal and professional fees Accountancy services Bank charges 1,242 1,190 4,351 103 4.024 105 .5,696 5,319 12. DONATIONS TO CHARITY 2024 Answer.8 In Genesis Armenian Ministi'ies Asia Link Avltil Mi%%ion Barn<iba% Fiind Clidrles Thompson Mis%ion Christi6?n Fellowship %Lhool Christian In%litute Elam Ministries L()ngLroft Chui'ch Nepal Leprosy Trust New Tribes Mi85ion Peru People Slavic Gospel Association Vision For China Wycliffe UK 2,000 2,000 1,500 2,000 3,000 2,001) 24,000 1,000 1,000 500 1,000 19,000 12,000 77.500 All the above donations have been paid to institutions. 13. REMUNERATION OF TRUSTEES None of the Trustees received remuneration or expenses during either financial year. 14. RELATED PARTIES Control The charity is controlled by its trustees whose names are shown in the trustees report. Transactions There were no related party transactions during either year. -16-