Charfty registratlon number 1158434 (England and Wales) HAY MILLS FOUNDATION TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
HAY MILLS FOUNDATION TRUST LEGAL AND ADMINISTRATIVE INFORMATION Tru$taes Mr R H ColdwelHorSfall Mr D Bray (Chainrtan) MrA J Roberlson Mr D A ColdwelkHorsfall Mr J P Robinson Mrz Iqbal Reverend A Frenth (ex officio) Senlor management Robert Henry Coldw8lWlorsfall David James Bray Secretary Chainnan Charlty numbor (England and Wales) 1158434 Prlnclpal address The Fordrough Hay Mills Birningham B25 8DW Independent examlner Jerroms Lumaneri House Blylhe Gate Blythe Valley Park Solihull West Midlands B90 8AH
HAY MILLS FOUNDATION TRUST CONTENTS Page Trusts8s report Statsm8nt of trustees responsiblllties Independent examinerfs report ststement of financlal actlvlties Balance sheet Not88 to the financial statements 8-15
HAY MILLS FOUNDATION TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025 This is th8 eleventh Annual Report (x)vering Ihe period 1stApril 2024- 31st March 2025 The accounts have been prepared In acc(Kdance with the accounting polioes set out in note 1 to th8 accounts and comply with the Trusvs goveming document, the Charities Act 2011 and the Statement of Recommended Practlce, 'Accounting and Reporting by Charities.. issued in October 2019. The Trust Is managed by a board of Trustees consisting of the Chaimian, Secretary. and four elected members and one ex officio. The Twst is assisted by a further Ihree volunteers. Objectivas and actlvltlos To advance education and facilities for the public benefit by the establishment and maintenance of a centre for thè preservatlon and development of the hetttage and culture of Hay Mills and the adjacent areas and its community, and all related activities as the Trustees deem appropriate. The amendments to the Objectives of the Trust have allowed it to expand its activities for the benefft of the local community in Hay Mills. During the year the Trust was successful In securing funding to take on staff to condud detailed surveys within Hay Mills and the local area to ascertain how its support can lead groups Ythin the area to work together in improving wellbeing and wmmunty cohesion. Public benefit The truslees have paid due regard to guidance issued by the Charity Commisslon in d8¢iding activities the Trust should undertake. The trustees confim that they have complied with their duty under section 17 of the Charttiès Act 2011 to have due regard to Ihg Charity Commission's guidance on publi¢ benefit vthen reviewing the charitys aims and objectives and in planning future activities. The charitys actlvttles durfng year allgn with Its charitable purposes. These activities have directty ben8ffted the public by advancing education. Th8 trust88$ are satlsfied that the charws work contlnues to dèlNer clear public benefft and remains conslstent with its stated objectives.
HAY MILLS FOUNDATION TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achiavements and perforn)ance SlgnifiGant activitles and a¢hievements againsl otyectives Engaging. Architsctural Design students from Wolverhampton Unrver5ty the Trust ran a project which brought together a range of Kl8as to repurpose Iwo important heritage buildings within Hay Mills. Producing plans which could attract appropriate funding and be of greater benefit to the communty and to secure the fLrture of the buildings th8mselves. Thls project Is continulng. In September, a presentation of a mounled and framed copy of the restored Atlantlc Chart documenting the voyage of the Great Eastem crossing the Atlantic oan laying the first successful trans-Atlantlc Telegraph Cable in 1866. was presented at a special event to the Llbrary of Bimingham. Volunt8ers continue to meet on a regular basis and working with the Bimiingham Clty Archtves on various projects which help to promote public awareness and provide information on the signffi¢ance of the Hay Mills site to worfd history and d8velopm8nt. The Trust participated in British Heritage Open Days and Binningham Heritsge Week. Opening its museum room5 to the general public for two days and displaying documents and artefacts related to its history. Volunteers were also present to answer queries from the public and to provide further access 10 the documents and records held by the TrusL There were 85 visitors over the tbvo days. At other times throughout the year. the museum rooms have been ijpened. on requesL to members of the publlc. The Trust was also involved in communlty open days and events during the year. Talks and presentatlons wer8 made to k)cal groups and the Trusl conlinued to respond to enquirles made by members of the general public. During this perlod the Trust also entered into a managernent agreement with Saint Cyprian's Parochial Church Council to provlde a managemant ser4i¢e for the Memorial Hall. The two main alms of the Management Agreement are: 1. For the Trust to ensure the incTrased use and accesslbilty of The Memorial Hall by Communty groups and Individuals withln the nelghbourhood of Tyseley & Hay Mills, and its surrounding areas. 2. To develop and maintaln a viable ffinancial nNxlel for The MeffKYial Hall ensurlng the generation of Income to deliver a sustsinable and long4astlng communty hub. Flnanclal review The charity's total Income for the year amounted lo £34.492(wevious year: £10.840). Expenditure for the year lotalled £34,578 (previous year. £10,826). wilh Ihe majoiity allOted to consultancy work. The charity ended the financlal year wlth net assets of £46.203 (previous year: £46,289). Thls indudes unrestricted funds of £45.171 and rÈstricted funds of £1.032. The trustees are satisfied that the dlarlty remalns In a strong financial posltion to continue its activities in the coming year. Reseryes poIIcy It is the policy of the Trust that unrestrfcted funds vthich have not been deslgnated for a specffic use should maintained at a level equlvalent to between three and six month's expendtlure. The trustees consider that reserves at this level will ensure that, In the event of a significant drop in funding. they will be able to continue the Trust's current advities while conslderation is given lo ways in vthich additional funds may be raised. This level of raseNes has been maintained throughout the year. The Trustees have examined the tharity's requirements for reseNes in the light of the main risks to the organisation and its operalional needs. Actual financlal activity remalns low and it is not prop058d to enter into any further financial contractual obligations at the present time. Trustees have. therefore. agreed to fix the reserve at £500. This policy will be reviewed annually. Major rfsks The trustees hav8 assessed the major risks to which the Trust Is exposed. and are satisfied that systems are In place to mitigate exposure to the major risks.
HAY MILLS FOUNDATION TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure, govemanco and management The Trust Is managed by a board of Trustees consisting of the Chaiman, Secretary. and four elected rnembers and one exofficio. The Trust Is asslsted by a further four volunteers. The trustees who served during the year and up to the date of signature of the financial statements were". Mr R H Coldw811-Horsfall Mr D Bray (Chairman) MrA J Robertson Mr D A Coldwell-Horsfall Mr J P Robinson Mr Z Iqbal Reve A French (8x officio) Recruttment and appntment of twstees New trustees are proposed for eledon by exlstlng trustses with regards kn guldelines Issued by the Charitles Commission. and ar8 considered on the basis of their knowledge and expertise and their capacity to serv8 th8 Trust. Those appointed are experts in their field and have good leadership and governan skills to ensure the future relevance and sustainability of the TntsL The trustees are responslble for the strategic direction, policy and financial management of the Charitsble TrusL Organisational stmctu Th8 charsty Is unincorporated association. 9rned by a board of Iwstees. The trustees make policy and OP8ratlonal decisions by majority vote. The trustees report was approv by the Board of Trustees. 14th November 2025
HAY MILLS FOUNDATION TRUST STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The trustees are responsible for preparing the Trustees Report and the financial statements in accordance with appllcable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practioel. The law applicable to charlties In England and 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 Trust and of the incoming resources and applicatlon of resources of the Trust for that year. In preparing these ffinancial statements. the trustees are required to: - select suitsble accounting policies and then appty them consistently, - observe the methods and principles in the Charities SORP; - make judgements and estimates Ihat are reasonable and prudent. - state whether applicable accounting standards have been foll0v1, subject to any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going nCern basls unless it is Inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping sufficient accounting records that disclose wlth reasonable accuracy at any time the financial posltion of the Trust and enable them to ensure that the financtal stalements comply with the Charitles Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responslble for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
HAY MILLS FOUNDATION TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HAY MILLS FOUNDATION TRUST I report to the trustees on my examinalion of the financtal statements of Hay Mills Foundation Trust (the Trust) for the year ended 31 March 2025. Responslbllitie$ and basls of report As the trustees of th8 Trust you are responsible for the preparation of the finanual statements in accordan wlth the requirements of the Chariti8s Ad 2011. report in respect of my examination of the Trust's financial statements carrfed out under section 145 of the Charities Act 2011. In carryrng out my examination I have followed the Dlrections given by the Chartty Commission under section 145{5}(b} of the Charities Act 2011. Independent examlnerfs statement Your attention is drawn to the fact that the charity has prepared the financral statements in accordance wlth the relevant verslon of the Statement of Recommended Practice applicable to charities preparing their financlal stalements In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} in preference to the Accounting and Reporting by Charlties: Statement of Recommended Practice issued on 1 April 2005 whlch Is referred to in the extant regulations but has now been withdrawn. l understsnd that this has been done In order for the financial statements to provide a true and fair view in accordance véÉth UK Generally A¢pIed Accounting Practice. I have completed my examination. I confirni that no matt8rs have come to my attenlion in connection WFth the examination giving me cause to belleve that in any matsrial respect: accounting records were not kept in respect of the Trust as required by section 130 of the Charities Acl 2011. thè financlal statements do not accord with those records" or the flnanclal statements do not comply with the applicable requirements conMIng the fomi and content of financial statements set out in the Charitles (Accounts and Reports) Regulatlons 2008 other than any r8qulrement that the financial statements give a true and falr wew. vthich is not a matter considered as part of an independent examination. e no concerns and have come across no other matters in connecbon wtth the examination to which attention Id be drawn in this report in order to enable a proper understanding of the finanoal statements to be reached. Jerroms Lumanerl House Blythe Gate Blythe Valley Park Solihull West Mldland B90 8AH
HAY MILLS FOUNDATION TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Total Unrestricted funds 2024 funds 2025 funds 2025 2025 Noles Income from: Donations and legacies Charitable activities 6.877 11.615 16.000 22,8TI 11,615 10.840 Total Inco 18,492 16.000 34,492 10,840 Expenditure on: Charitable activiknes 19,243 15,335 34.578 10,826 Total expondlture 19.243 15,335 34.578 10.826 Net Incomol(expendlture) (751) 665 {86) 14 Transfers belwe8n funds (367) 367 Net movement In funds (1.118) 1.032 {86) 14 Reconcillatlon of funds: Fund balances at 1 Aprfl 2024 46.289 46.289 46,275 Fund balances at 31 March 2025 45,171 1.032 46,203 46,289 The statement of fjnancial activities in¢leS all gains and losses recognised In the year. All income and expenditure derive from contlnuing a¢tlvitbes.
HAY MILLS FOUNDATION TRUST BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Flxed assots Tangible assets Heritage assets 10 11 1,103 44,300 95 44.300 45,403 44,395 Curront assets Cash at bank and in hand 6.575 1.894 Creditors: amounts falllng due wlthln one year 12 (5.775) Net current assets 800 1.894 Total assets less current Ilabilltles 46.203 46,289 The funds of the Trust Restrlcled Income fvnds Unrestricted funds 13 14 1.032 45,171 46.289 46.203 46.289 14th November 2025 The fEnancla statements were approved by the trusteès on ....:. .................. Mr R H Coldwell-Horsfall Mr D Bray (Chaimian)
HAY MILLS FOUNDATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accourrting policios Charlty Inforniation Hay Mills Foundation Trust is established by a charitable trust deed on 11 March 2014 (revised 20 August 2014). 1.1 Basls of preparation The financial statements have been prepared in accordano wtth the Trust's deed . the Charities Act 2011 and 'Accounting and Reporting by Charibes: Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appllcable in the UK and Republlc of Ireland (FRS 102) (effective 1 October 2019).. The Trust is a Public Benefft Entity as defined by FRS 102. The Trust has taken advantsge of the provIsn$ in the SORP for dritieS applying FRS 102 Update Bulletin 1 not to prepare a Slaternent of Cash Flows. The financial ststements have departed from the Charities (Acc(AJnts and Reports) Regulatlons 2008 only to th8 extent required to provide a true and fair view. This d8parture has involved followlng the Statemenl of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice whlch is referred lo in the Regulallons but vthich has since been withdrawn. The financial statements are prepared in sterling. which is the functional CUTrency of the Trust. Monetary amounts in these finandal statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modffied to Include the rèvaluation of freehold properties and to Indude investment properties and certaln financial instruments at fair value]. The principal accounting policies adopted are set out below. 1.2 Charilable funds Unrestricted funds are avallable for use at th8 disffttion of the bijstees In furtherance of thelr charllab objectives. Reslri¢ted funds are subject to speclfic (>)nditlons by donors or grantors as to how they may b8 used. The purposes and uses of the restricted funds are sel out in the notes to the finandal statements. Endowmènt funds are subject to specffic condibons by donors that the cApltal must be maintsined by the Twst. 1.3 Income Income is recognised when Ihe Trust is legally enllued to it after any perfomance condltions have been mèL the amounts can be measured reliably. and it Is probable that income will be received. Cash donations are reeognised on reipt. Other donalions a recognised once the Trust has been notified of the donation. unless perfomiance nditIonS require deferral of the amounL Income tsx recoverable in relation to donations received under Gfft Aid or deeds of covenant is reo)gnised at the time of the donation. The Trust rétains the18ase of James Horsfall's School Room. This building, located on the Hay Mills site, has b8en renovated and equlpped by Webster & Horsfall {Holdings) Llmited for use by the Trust free of rental and maintenance fees. The donated facilities and services provides economic resource for use by the trust to further its aims and objectives. The trust has recognised ino)me at fair value for facilitates and sèrvic8S donat8d to it.
HAY MILLS FOUNDATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles (Contlnued) Legacies are recognised on receipt or othetwise rf the Trust has b88n notlfied of an imp6nding distribution, the arnount is known, and receipt Is 8xpeded. If th8 amount is not kn(AYn. the legacy is treated as a contingent asset. The Trust retains the lease of James Horsfall's School Room. This building, located on the Hay Mills site, has been renovatsd and equipped by Webster & Horsfall {Holdings) Limed for use by the Trust free of rental and maintenance faes. The donated facilities and s8riices provides economic resource for use by the trust to further its aims and objectives. The trust has recognised income at fair value for faalitates and services donatèd to IL 1A Expendlture All expenditure is accounted for on an accruats basls and has been classified under headings that aggr6gatè all costs relaled to Ihe category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the setuement will be required and the amount of the obligation can be measured r81iably. 1.5 Tangible fixed assets Tangible fixed assets ar8 Initially measured at cost and subsequenty measured at cost or valuation, net of depreciatlon and any impairnient losses. Depreciation is recognised so as to write off the st or valuation of assèts less thelr residual values over their useful lives on the following bases: Fixtures. fittlngs & equlprrkgnt Computers 25% Redu(>ng balance 25% Straight Line The gain or loss arising on the disposal of an asset is detennined as the difference between the sale proceeds and th8 carrying value of the asset. and is recognised in net incomel{expenditure) for the year. 1.6 Heritago assets Herilage assets are recognÉsed on the balance sheet and Inltlally measured at cost when purchased or rf donated, thelr vaiuation. Assets are subsequently stated at cost or valuation less accumulated depreciatlon and accurnulated ImpaiDent losses. Fair values for donated assets are èstimated by referen to markel prices. Where infonnation on the cost or valuation of heritage assets is not available or the cost of providing such information signifir2ntly outW8ighs any b8nefft to the users of the accounts then heritage ass8ts are not recognised on the balance sheet. Acquisitions only arise when donated to Ihe charity or rf ii is believed that they wll further the charity's objectives. Once acquired they will be preserrfed by the charity in order to keep their historical, artistic, scientific, technological, geophysical or environmental qualities to such a hlgh level as to ¢onlribute to knowledge and wlture. A regtster of all assets held by the charity is avali able and the assets themselves aré eGc8sslble to the public with prior agreemenL Heritage assets are to be held for the foreseeable fvture 1.7 Impaimient of flxod assets At each reporting end date. the Trust reviews the carryEng amounts of Its tanglble ass&ts to detemiine whether there is any indication that those assets have suffered an impaimient loss. If any such indication exists, the recoverabte amount of the asset is estimated in order to detemine the extent of the impainnent loss (rf any).
HAY MILLS FOUNDATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Aceountlng policies {Continuod) 1.8 Cash and cash oquivalonts Cash and cash equivalents Indude cash in hand. deposits held at call wlth banks, other short-tern Ilquid Investments wlth orlglnal maturities of Ihree months (x less, and bank overdrafts. Bank overdrafts are shown withln borrowings in current liabilities. Basic financial assets Basic financial assets. which include debtors arKI cash and bank balances. are initlally measured at transactlon price including transaction costs and are subsequently carried at amortlsed cost using the effectlve Interest method unless the arrangement constitutes a finandng transaction, where the transadon is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivabla within one year are not amortised. Basic financial Ilabilitles Basic financlal liabilitles. induding creditors and bank loans are initlally recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Flnancial liabilitles dasslfied as payable thin one year are not amortised. Debt instruments are subsequently Caled at amortised cost. using the effective interest rate method. Trade credilors are obligatlons to pay for goods or serVS that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as current liabilities if payment is due within one year or less. If not, they are presented as nonrfurrent liabilities. Trade creditors are recognised initially at transaction price and subsequendy measured at amortised cost using the effeclive interest method. Derecognltlon of flnanelal liabilftles Flnancial liabiSlties are derenISed when the Trusys contractual obligatlon5 expire or are discharged or cancelled. 1.9 Employee beneflts Th8 Cost of any unused holiday entillemenl is recognlsed in the perl&J in vthich the employee's services are received. Temiination benefrts are recognised Immediately as an expense when the Trust Is demonstrably commltted to terminate the employment of an empbyee or to provide terminalKXI benefft5. 10-
HAY MILLS FOUNDATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from donatlons and Jegacles Unrnstricted Restrlctsd funds funds 2025 2025 Total Unrnstricted Restrlcted funds funds 2024 2024 Total 2025 2024 Donations and glfts Grants 6.877 6.8TT 16.000 10.840 10,840 16,IXIO 6.877 16.000 22.877 10,840 10,840 Grants COGA- Coalitton for Impact grant 16.000 16.000 16.000 16.000 Income from charitable actlvltles Unrestri¢ted Unrestrlcted funds funds 2025 2024 Rental Income Charitable rental income 11,615 11
HAY MILLS FOUNDATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expendlture on charilable actlvfties Charitable Charitsble expendlture expendltu 2025 2024 Direct costs D8preciatlon and Impalmnt Consultancy work Cleaning Securlty Catering Church payments Other expenses 144 14,400 1.733 877 815 6,244 165 32 24,378 32 Sharn of Support and govarnance costs (see note 5) Support Govemance 6,000 4,200 10,794 34,578 10,826 Anatysls by fund Unrestricted funds Restrtcted funds 19.243 15.335 10.826 34,578 10,826 Support costs allocated to actfviti•s 2025 2024 Rent Repalrs and maintslnance Govemance costs 6.000 6.000 4.794 4,200 10.200 10,794 Analysed between: Charitsble expenditure 10.200 10.794 Net movement In funds . 2025 2024 The net movement in funds is stated after chargingl(creditirwJ): Fees payable for the Irependent &Yamination of the Gharitvs financial statements Depreciation of owned tanglble fixed assets 4,200 144 12-
HAY MILLS FOUNDATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Trustees None of the trustees (or any persons connected vAth them) recelved any remuneration during the year. Employees There were no employees during the year. There were no employees whose annual remunerallon was more than £60.000. Taxation The charity is exempt from taxatlon on its activitjes because all its inttjme is applled for chartiable purposes. 10 Tanglble fixed assets Flxiuros, Computws flttlng5 & equipment Totsl Cost At 1 April 2024 Addltions 1,188 1,188 1,152 1,152 At 31 March 2025 1.188 1.152 2.340 Depreclatlon and impairment At 1 April 2024 Depreciation charged In the year 1.093 24 1,093 144 120 Al 31 March 2025 1.117 120 1,237 Carrying amount At 31 March 2025 71 1,032 1,103 At 31 Mar¢h 2024 95 95 11 Heritage assets Al 1 April 2024 and at 31 March 2025 44,300 13-
HAY MILLS FOUNDATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Creditors: amounts falling due wlthin one year 2025 2024 Other creditors Accruals and deferred income 1,575 4.200 5,775 13 Rastrictod funds The restrictsd funds of the charlty MpriSe the unexpended balances of donallons and grants held on trust subject to speclfic conditions by donors as to h<hv they may be used. At 1 Aprfl In¢omlng Resources 2024 resources expended Transfers At 31 March 2025 COGA- Coalltion for Impact grant 16,000 (15.335) 367 1,032 Restricted funds inctude an amount of £1.032, repres8nting the net book value of computers purchased using tha COGA grant. Thls restricted fund wltl be released over time through the provislon of depredation, in line wlth the accountlng policy disclosed. 14 Unrastricted lunds The unrestricted funds of the charfty comprise the unexpended balances of donations and grants which are not subject to specffic conditions by donors and grantors as to how they may be used. These Indude designated funds which have been set aside out of unrestricted funds by the INstees for specific purposes. At 1 Aprfl Incomlng Transfers At 31 March 2024 resources 2025 Resource$ expended General funds 46.289 18,492 (19.243) {367) 45.171 Previous yèar: At 1 Aprfl 2023 Incorning Resources resources expended Transfers At 31 March 2024 General funds 46,275 10,840 (10,826) 46,289 14-
HAY MILLS FOUNDATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Anatysls of Mt assets between ndS Unrestricted Restricted funds funds 2025 2025 Total 2025 At 31 March 2025: Tangible assets Herilage assets Current assetsl{liabilFties) 71 44,300 800 1,032 1.103 44,300 800 45.171 1.032 46,203 Unrestrlctèd funds 2024 Restrlcted funds 2024 Total 2024 At 31 March 2024: Tangible assets H8ritag8 assets Curr8nt assetsl(liabilities) 95 44.300 1.894 95 44,300 1,894 46.289 46.289 16 Rolatod party transactions There were no disclosab18 related party transactions durfng the year (2024 - none). 15-