Charity reglstratlon number 1160177 THE PHOENIX YOUTH PROJECT ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Gibbons Chartered Accountants &Tax Advisers SER VICE SOLUTION5 VALUE
THE PHOENIX YOUTH PROJECT LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr S BUtteOrth Mr J Alick Mrs M Malloy Mr M Priestley Mr P Zanacchi Mrs K Daniels (Appointed 1 March 2024) Charity number 1160177 Prlnclpal address Cleator Moor Youth and Community Centre Birks Road Cleator Moor Cumbria England CA25 5HP Independent examlner Gibbons Lakeland Office 2 Europe Way Cockermouth Cumbria CA13 ORJ
THE PHOENIX YOUTH PROJECT CONTENTS Page Trustees, report Independent examiner's report Statement of financial activities Ba18nce sheet Notes to the financial statements 7-16
THE PHOENIX YOUTH PROJECT TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charities Act 2011 Else the Companies Act 2006 and Accounting and Reporting by Charities.. Statement 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 past e1ve months has been another year of great success for The Phoenix Youth Project. Although we are all experiencing a tough economic and funding climate The Phoenix Youlh Project continues to go from strength to strength despite this. We are in a very secure position finances wise. We have a fantastic team of Irustees, staff and volunteers Ihat have the shared drive of supporting the children and young people that we work with. We continue to run youth centres, in Cleator Moor and Frizington across ten evening sessions. Our Friday Night Project sessions have continued to be a huge success this year. We have almost completed a 400k plus refurbishment of Frizington Youth and Community Centre. We are very excited to see the new centre OFen in JunelJuly 2023. We aim for this building to nol only house our young people but also be a community hub that brings back services to the village of Frizington. Young people have taken part in many learning and developmental opportunities- such as various informal educational workshops on issues such as, drug (focusing on psychoactive substances) and alcohol use, sexual health, risk taking, anti-social behaviour and LQBTQ. Such workshops are part of our Rewards for Actions Scheme where young people collect points for participating in community tasks and informal educational workshops. These points are then 'cashed in, for trips and activities of the young people's choice. We never charge a monitory value for any trip., but we also never allow any young people to attend the trips without gaining a set level of points, this differs from trip to trip depending on cosl. We believe that this gives Ihe young people goals to achieve, and makes all trips more worthwhile and ultimately more enjoyable. This year young people have been on three residential experiences Ouard bound residentials to Kepplewray and a cultural visit to Manchester. Through such activities, we aim to creale opportunity and form an awareness of social issues, by taking young people out of their normal environment to experience diverse environments, and to encourage them in their personal and social development. Young people have participated in trips and activities in every school holiday this year, which has included trips to, Blackpool Pleasure Beach, Rookin House, Go Karting, Sandcasljes Water Park and I Skating. I would like to lake this opportunity to thank the management committee, the Phoenix Youth Project team and all of our volunteers for their hard work and dedication over the past twelve months. On behalf of The Phoenix Youth Project I would like to thank our funders for their continued generous financial support. During the past twelve months we have received funding from: Copeland Community Fund BBC Children In Need Sellafield Ltd Francis C Scott Charitable Trust Cleator Moor Town Council Arlecdon & Frizington Parish Council
CanDo- Cumbria Community Foundation
Cumbria County Council Local Committee Co-op Community Fund I would also like to thank DDP partnership for funding Frizington Youth and Community Centre 1¢h includes 13 Decommissioning Partners, Cumbria Nuclear Solutions, ATK Energy, Nexus Decommissioning Alliance, The Decommissioning Alliance and Atkins.
THE PHOENIX YOUTH PROJECT TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The charity is a company limited by guarantee The trustees who served during the year and up to the date of signature of the financial ststements were: Mr S Butterworth Mr J Alick Mrs M Malloy Mr M Priestley Mr P Zanacchi Mrs K Daniels (Appointed 1 March 2024) The trustees, report was approved by the Board of Trustees. Mr S Butterworth trustee
THE PHOENIX YOUTH PROJECT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PHOENIX YOUTH PROJECT I report to the trustees on my examination of the financial statements of The Phoenix Youth Project (the charity) for the year ended 31 March 2024. Responsibilities and basls of report As the trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requiraments of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charity's financial statements carried out under sedion 145 of th8 2011 Act. In carrying out my 8xaminalion I have followed all the applicable DI¢t10nS given by the Charity Commission under section 145{5){bl of the 2011 Act. Independent examlnarfs 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 confirm that l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. Your attention is drawn to the fact that the charity has prepared financial stalements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 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 now been withdrawn. l understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm 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 nol kept in respect of the charity as required by section 130 of the 2011 Act; or the financial statements do not accord with those records., or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (AccoLtnts 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 6xamination. I have no concerns and have com8 across no other matters in connection with the 8xamination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to b8 reached. Mr T Hindmoor BFP FCA Gibbons Chartered Accountants Lakeland Office 2 Europe Way Cockermouth Cumbria CA13 ORJ Dated.. 21 June 2024
THE PHOENIX YOUTH PROJECT STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Current flnancial year Unrestrlcted Deslgnated funds funds 2024 2024 Restricted funds 2024 Total Total 2024 2023 Notes Income and endowments from: Donations and legacies Other trading activities Other income 175,482 11,400 1,745 192,568 368,050 11,400 1,745 458,895 9,393 1,989 Total Income 188,627 192,568 381,195 470,277 Expendlture on: Raising funds Charitable activities Other expenditure 17,087 149,040 8,000 198,101 25,087 393,077 20,685 435,743 1,709 45,936 11 Total expendlture 166,127 45,936 206,101 418,184 458,137 Net Incomellexpendlture) 22,500 (45,938) (13,533) {36,969) 12,140 Transfers beeen funds (5,984) (2,346) 8,330 Net movement In funds 16,516 (48,282) (5,203) 136,969) 12,140 Reconclllatlon of funds: Fund balances at 1 April 2023 106,154 58,282 28,211 190,647 178,507 Fund balances at 31 March 2024 122,670 10,000 21,008 153,678 190,647 The stalement of financial activities includes all gains and losses recognised In the year. All income and expenditure derive from continuing activities.
THE PHOENIX YOUTH PROJECT STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Prlor flnanclal year Unrestrlcted Designated funds funds 2023 2023 Restrlcted funds 2023 Total 2023 Notes Income and endowments from: Donations and legacies Other trading activities Other income 123,807 9,393 1,989 335,288 458,895 9,393 1,989 Total Income 134,989 335,288 470,277 Expendlture on: Raising funds Charitable aclivities Other expenditure 12,685 114,746 1,709 8,000 318,612 20,685 435,743 1,709 2,385 11 Total expendlture 129,140 2,385 326,612 458,137 Net Incomel(expendlture} and movement In funds 5,849 {2,385) 8,676 12,140 Reconclllatlon of funds: Fund balances al 1 April 2022 100,305 60,667 17,535 178,507 Fund balances at 31 March 2023 106,154 58,282 26,211 190,647
THE PHOENIX YOUTH PROJECT BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Flxed assets Tangible assets 13 25,290 7,380 Current assets Stocks Debtors Cash at bank and in hand 14 15 40 20,178 143,299 40 701 254,196 163,517 254,937 Creditors: amounts falllng due wlthln one year 16 (35,129) (71,670) Net current assets 128,388 183,267 Total assets less current Ilabllltles 153,678 190,647 The funds of the charfty Restricted income funds Unrestricted funds Designated funds 18 21,008 122,670 10,000 26,211 106,154 58,282 19 153,678 190,647 The financial statements were proved by the trustees on /i/:/= 024 Mr P Zanacchi trustee
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Charity infomiation The Phoenix Youth Project is a charitsble incorporated organisation. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ('FRS 102°) and the Charities SORP Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable to charilies 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 charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statanent of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports} Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, Imodified to include the revaluation of freehold properties and lo include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trtee$ continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable thal income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donalion, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations reiVed under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending dtstribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued} 1.5 Expendlture 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 dir&t 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 beeen those aclivities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any Impairment losses. Depreciation is recognised so as to write off the cost or valuatlon of assets less their residual values over their useful lives on the following bases- Fixtures and fittings 200/0 Reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and Ihe carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impalrment of flxed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assels to determine whelher there is any indication that those assels have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.8 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. 1.9 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles (Continued) 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the contractual provisions of Ihe instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financlal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitules a financing transaction, where the transaction is measured al Ihe present value of the future receipts discounted at a market fate of interest. Financi81 assets classified as receivable within one year are not amortised. Baslc financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transactlon prlce 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. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade credilors are recogni5ed initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognltlon of financlal Ilabllltles Financial liabilities are derecognised when the charity's contractual obligalions expire or are discharged or cancelled. 1.11 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Temiination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or lo provide temiination benefits. 1.12 Retirement beneflts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Critical accounting estlmates and Judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are nol readily apparent from other sources. The estimates and associated assumptions are based on historical experien and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donatlons and legacles Unrestrlcted Restrlcted funds funds 2024 2024 Total Unrestrlcted Restrlcted funds funds 2023 2023 Total 2024 2023 Donations and gifts Grants receivable 1,375 174,107 1,375 366,675 4,146 119,461 4,146 454,749 192,568 335,288 175,482 192,568 368,050 123,607 335,288 458,895 Income from other tradlng actlvltles Unrestrlcted Unrestrlcted funds funds 2024 2023 Subscriptions EventslFundraising income Tuck shop sales Centre hire income 1,566 573 1,941 7,320 1,351 40 1,862 6,140 Other trading activities 11,400 9,393 Other Income Unrestricted Unrestrlcted funds funds 2024 2023 COVID 19 Grants 1,745 1,989 10-
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Raising funds Unrestrlcted Restricted funds funds general 2024 Total Unrestrlcted Restricted funds funds general 2023 Total 2024 2024 2023 2023 Cost of activities Tuck shop purchases 14,088 2,999 8,000 22,088 2,999 10,038 2,647 8,000 18,038 2,647 Trading costs 17,087 8,000 25,087 12,685 8,000 20,685 17,087 8,000 25,087 12,685 8,000 20,685 Expendlture on charltable actlvltles Unrestrlcted Restrlcted funds funds 2024 2024 Total Unrestrlcted Restrlcted funds funds 2023 2023 Total 2024 2023 Dlrect costs Staff costs Depreciation and impairment Rent Insurance Repairs & Maintenance Telephone & Fax Printing, Postage & Stationary Staff Training Sundry expenses Motor expenses Accountancy fees Bank charges Rates Heat & Light 117,702 55,406 173,108 94,587 63,502 158,089 5,331 3,900 2,120 53,878 756 1,490 6,821 3,900 2,120 190,124 756 548 4,830 1,205 3,375 783 785 1,313 4,830 1,205 254,664 783 136,246 251,289 2,918 600 {1,647) 958 2,257 137 735 3,653 600 1,974 1,561 2,257 137 2,652 701 1,083 601 2,111 139 664 3,852 2,652 701 3,683 1,057 2,111 139 664 3,852 3,621 603 2,600 456 6,066 6,068 194,976 198,101 393,077 117,131 318,612 435,743 Analysls by fund Unrestricted funds Designated funds Restricted funds 149,040 45,936 149,040 45,938 198,101 114,746 2,385 114,746 2,385 318,612 198,101 318,612 194,976 198,101 393,077 117,131 318,612 435,743 11
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Net movement In funds 2024 2023 Net movement in funds is stated after chargingl(crediting) Depreciation of owned tangible fixed assets Loss on disposal of tangible fixed assets 6,821 1,313 1,709 6,821 3,022 Trustees None of the trustees lor any persons connected with them) received any remuneration or benefits from the charity during the year. 10 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 163,775 2,867 6,466 148,267 5,376 4,446 173,108 158,089 There were no employees whose annual remuneration was more than £60,000. 11 Other Total Unrestrlcted funds general 2023 2024 Net loss on disposal of tangible fixed assets 1,709 1,709 12-
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 13 Tangible fixed assets Flxtures and fitting$ Cost At 1 April 2023 Additions 19,330 24,731 At 31 March 2024 44,061 Depreclatlon and Impalrment At 1 April 2023 Depreciation charged in the year 11,950 6,821 At 31 March 2024 18,771 Carrylng amount At 31 March 2024 25,290 At 31 March 2023 7,380 14 Stocks 2024 2023 Stocks 40 40 16 Debtors 2024 2023 Amounts falllng due wlthln one year: Trade debtors Prepayments 18,987 1,191 701 20,178 701 13-
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Credltors: amounts falling due wlthln one year 2024 2023 Notes Trade creditors Other creditors Accruals 33,521 69,742 428 1,500 1,608 35,129 71,670 17 Retlrement benefit schemes 2024 2023 Deflned contrlbutlon schemes Charge to profit or loss in respect of defined contribution schemes 6,466 4,448 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 18 Restrlcted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 Aprll 2023 Incomlng Resourcès resources expended Transfers At 31 March 2024 BBC Children In Need Covid 19 Development Officer Fund Laptops Frizington Refurb fund 30,000 (30,000} {700) (38,365) 1790) (136,246) 1,400 13,617 3,935 7,259 700 17,163 3,145 41,911 120,657 8,330 26,211 192,568 (206,101) 8,330 21,008 Prevlous year: At 1 April 2022 Incomlng resources Resources expended Transfers At 31 March 2023 BBC Children In Need Covid 19 Development Officer Fund Laptops Frizington Refurb fund 30,500 (30,500) {700) (44,058) (65) {251,289} 2,100 15,435 1,400 13,617 3,935 7,259 42,240 4,000 258,548 17,535 335,288 1326,612) 26,211 14-
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Designated funds - These are unrestricted funds which are designated to the charity's activities. At 1 Aprll 2023 Resources expended Transfers At 31 March 2024 Frizington Building Refurb 58,282 (45,936) (2,346) 10,000 Prevlous year: At 1 Aprll 2022 Resources expended Transfers At 31 March 2023 Frizington Building Refurb 60,667 {2,385) 58,282 20 Unrestrlcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific PLfjrposes. At 1 Aprll 2023 Incomlng resources Resources expended Transfers At 31 March 2024 General funds 106,154 188,827 (186,127) (5,9841 122,670 Prevlous year: At 1 Aprll 2022 Incomlng resources Resources expended Transfers At 31 March 2023 General funds 100,305 134,989 (129,140) 106,154 21 Analysls of net assets between funds Unrestricted Deslgnated funds funds 2024 2024 Restrlcted funds 2024 Total 2024 At 31 March 2024: Tangible assets Current assetsl(liabilities) 21,485 101,185 3,805 17,203 25,290 128,388 10,000 122,670 10,000 21,008 153,678 15-
THE PHOENIX YOUTH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Analysis of net assets between funds (Continued) Unrestrlcted Deslgnated funds funds 2023 2023 Restrlcted funds 2023 Totsl 2023 At 31 March 2023: Tangible assets Current assetsl(liabilities) 2,085 104,069 5,295 20,916 7,380 183,267 58,282 106,154 58,282 26,211 190,647 22 Related party transactlons There were no disclosable related party transactions during the year (2023 - none). 16-