Company registration number: CE002670
Charity registration number.. 1160509
Munchkins Miniature Shetland Rescue
{A company limited by guarantee)
Annual Report and Financial Statements
forthe Year Ended 31 August 2024
WESTCOTTS
HARTERED ACCOUNTANTS
& BUSIMESS ADVISERS

Munchkins Miniature Shetland Rescue
Contents
Reference and Administrative Details
Trustees, Report
Independent Examiner's Report
Statement of Financial Activities
Balan￿ Sheet
Notes to the Financial Statements
9t017

Munchkins Mlnlature Shetland Rescue
Reference and Administrative Detalls
Trustees
Tcmarx
K M Lavery
S A Ratcliffe (appointed 19 December 2024)
F E Marx (appointed 19 December 2024)
A G Foxcroft (resigned 14 November 2024)
J E Walters (resigned 17 October 2023)
Charity Reglstration Number
1160509
Company Reglstratlon Number CE002670
Reglstered Office
Morganhayes Famihouse
Southleigh
Colyton
Devon
EX24 6RY
Independent Examiner
Westcotts (SW) LLP
Chartered Accountants
Timberly
South Street
Axminster
Devon
EX13 SAD
Accountants
Westcotts
rimberly
South Street
Axminster
Devon
EX13 SAD
Page 1

Munchkins Miniature Shetland Rescue
Trustees. Report
The trustees. who are directors for the purposes of company law, present the annual report together
with the financial statements of the charitable company for the year ended 31 August 2024.
Objectives and activities
Objects and aims
The charitable objective of the charity is 'for the benefit of the public to relieve the suffering of
miniature Shetland ponies in need of care and attention and, in particular. to provide and maintain a
rescue home or other facilities for the reception, care and treatment of such ponies..
In the last year we have cared for 63 ponies, of which 20 were new arrivals {including some ponies
that have been returned from their foster homes) and 4 have been rehomed. All have been provided
with suitable grazing and additional feed, hay and supplements as appropriate. All receive regular
veterinary treatment including vaccinations, womiing and dental care. In addition, several ponies have
been treated for ongoing chronic conditions and many others need specialist management to control
laminitis.
Purpose built stables, a sand turn out area and an enrichment mud controlled mat area are available
for those which need it and field shelters are also provided. In addition, a large concrele area around
the barn is used in adverse weather conditions. We have had a track system installed for use primarily
by our laminitic ponies and this track is being continued around our 12.3-acre site. All ponies are
checked and handled daily by our team of volunteers, including our Yard Assistant who asso ensure
that all facilities are kept clean and safe.
We are contacted regularly by members of the public reporting ponies in need or requesting help for
their own ponies owing to personal circumstances. In choosing those most in need, the Trustees have
regard for the guidance issued by the Charity Commission on public benefit.
Where the physical and behavioural condition of the ponies is suitable, we seek long-term foster
homes. which are rigorously checked both before and after placement.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act
2011 to have due regard to the public benefit guidance published by the Chariiy Commission for
England and Wales.
Page 2

Munchkins Miniature Shetland Rescue
Trustees. Report
Achievements and performance
Munchkins continues to thrive as a busy and effective rescue centre with a well-established reputation
within the UK and overseas. We have been recognised by many visitors and professionals as
exemplifying best practice in our work with miniature Shetlands, whose requirements are highly
specialised.
Our tenth year as a charity has again been one of many ups and downs. We have remained open to
our supporters who are on our 'sponsor a pony scheme,. We now have approximately 60-70
volunteers, and we would like to express our thanks to those volunteers who continue to provide
exemplary care for the ponies-, a number of these volunteers have additional needs. physical and
mental disabilities and Some attend with carers. We also offer opportunities for students to undertake
their Duke of Edinburgh Awards and work experience placements.
We work very closely with our equine vets - Summerleaze Equine Vets (Kilmington) who provide an
outstanding veterinary service for our ponies. We also work closely with our behaviour and massage
therapists who work very closely with our ponies and provide detailed expertise and Knowledge in this
regard.
We were able to attend several local fundraising events which and also visited some local care
homes. We held our annual summer fayre which again was extremely successful., this is our main
fundraiser of the year and we have over 1,000 members of the public attend. We were lucky enough
lo receive financial support in the form of grants from the following organisations and we would like to
say a big thank you to them for supporting the work that we do. We have also received a number of
generous donations from supporters towards our major projects.
Hilda Holmes Trust Fund
Animal Rescue Foundation
The Mills Equus Trust
Pets Foundation
Beryl Evetts and Robert Luff Animal Welfare Trust Limited
Munchkins continues to be a very proud member of the National Equine Welfare Council. NEWC is a
nationally recognised body, representing and supporting equine welfare charities throughout the UK.
Its aims are to educate and to lobby for regulation and law enforcement to protect the health and
welfare of all horses, ponies and donkeys in the UK. By becorning a NEWC member, Munchkins
demonstrates that a5 a charity we have the welfare and care of our ponies as our top priority at all
times.
Our on-site portable office is a great asset to us. We are awaiting planning permission from East
Devon District Council for the erection of a second barn to include storage for haylstrawlmachinery
and provide a large sheltered hard standing area for our ponies (especially ou r elderly herd) to use in
adverse weather. This application was submitted in March 2024 and we are still awaiting the decision
(February 2025).
Munchkins always strives to provide a safe and comfortable home for our rescued ponies and
beautiful and peaceful place to visit and enjoy.
Page 3

Munchkins Miniature Shetland Rescue
Trustees. Report
Financial review
The financial stalements and the accounting policies used in their preparation comply with all the
current statutory requirements and with the governing document.
The Slatement of Financial Activities shows the charity had a total income of £228,498 (2023:
£165,724) and total expenditure of £183,375 (2023.. £126,727} during the period. Income exceeded
expenditure in the period by £45,123 (2023.. £38,997).
The total reserves held at the year end were £296,729 (2023.. £251,606}. Of this £33,517 12023..
£11,357} was restricted.
Structure, governance and management
Nature of goveming document
Munchkins Miniature Shetland Rescue is a charitable incorporated organisation govemed by a
constitution dated 16 February 2015. The charity is managed by a group of up to 8 Trustees who are
appointed by the existing Trustees.
Organisational structure
Munchkins has no paid employees, but is run by volunteers of whom there are currently 30 adults on
roll, plus teenage helpers at the weekends. Most come regularly every week, providing hands-on help
with the ponies. Others perform administrative tasks or help to maintain the facilities. Others help on
special occasions, notably the annual summer fayre and other fund-raising activities. The Trustees
wish to record once again their grateful thanks for the hard work, dedication and commitment of all our
volunteers.
Page 4

Munchkins Miniature Shetland Rescue
Trustees. Report
Statement of trustees, responsibilities
The trustees (who are also the directors of Munchkins Miniature Shetland Rescue for the purposes of
company law) are responsible for preparing the trustees, report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Stsndard
applicable in the UK and Republic of Ireland"
Company law requires the trustees to prepare firlancial statements for each financial year. Under
company law the trustees must not approve the financial statements unless they are satisfied that
they give a true and fair view of the slate of affairs of the charitable company and of the incoming
resources and application of resources, including its income and expenditure, of the charitable
company for that period. In preparing these financial statements, the trustees are required to..
select suitable accounting policies and apply them consistently-,
observe the methods and principles in the Charities SORP.,
make judgements and e5timate5 that are reasonable and prudent.,
state whether applicable accounting standards, comprising FRS 102 have been followed, subject
to any material departures disclosed and explained in the financial statement5', and
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable
accuracy at any time the financial position of the charitable company and enable them to ensure that
the financial statements comply with the Companies Act 2006. They are also responsible for
safeguarding the assets of the charitable company and hence for laking reasonable steps for the
prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial
infomiation included on the charitable company's website. Legislation governing the preparation and
dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on
behalf by..
2610412025
and signed on its
Tcma
Chairman and trustee
Page 5

Munchkins Miniature Shetland Rescue
Independent Examiner's Report to the trustees of Munchkins Miniature
Shetland Rescue ('the Company,)
I report to the charity trustees on my examination of the accounts of the Company for the year ended
31 August 2024.
Responsibilities and basls of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you
are responsible for the preparation of the accounts in accordance with the requirements of the
Companies Act 2006 ('the 2006 Act,).
Having satisfied myself that the accounts of the Company are not required to be audiled under Part
16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination
of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act.).
In carrying out my examination I have followed the Directions given by the Charity Commission under
section 145(51{b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection
wtth the examination giving me cause to believe:
1. accounting records were not kept in respect of Munchkins Miniature Shetland Rescue as
required by section 386 of the 2006 Act,. or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2008 Act
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., or
4. the accounts have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities lapplicable to
charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns 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.
fvfr S J Carrington FCA
For and on behalf of Westcotts (SW) LLP
Timberly
South Street
Axminster
Devon
EX13 SAD
Page 6

Munchkins Miniature Shetland Rescue
Statement of Financial Activities for the Year Ended 31 August 2024
(Including Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Unrestricted
funds
Restricted
funds
Total
2024
Total
2023
Note
Income and Endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investment income
187,764
27,750
215,514
1,044
10,489
1,451
152,883
304
12,165
372
10,489
1,451
Total income
200.748
27.750
228,498
165.724
Expenditure on:
Charitable activities
(177,785}
<5, 590}
1183,3751
(126,727)
126,727)
Totsl expenditure
Net income
(177,785)
(5,590)
1183,3751
22,963
22,160
45,123
38,997
Net movement in funds
22.963
22,160
45,123
38,997
Reconciliation of funds
Total funds brought foTward
240,249
11.357
251.606
212,609
Total funds carried fomard 17
263,212
33,517
296,729
251,606
All of the charity's activities derive from continuing operations during the above periods.
The funds breakdown for 2023 is shown in note 17.
Page 7

Munchkins Miniature Shetland Rescue
(Registration num ber: CE002670)
Balance Sheet as at 31 August 2024
2024
2023
Note
Flxed assets
Tangible assets
12
420,646
141,467
Current assets
Stocks
Debtors
Cash at bank and in hand
2,500
6,530
95,666
1,351
14,263
98,094
113,708
14
104,696
Creditors: Amounts falling due within one year
Net current assets
15
(5,269)
(3,569)
99,427
110,139
Total assets less current liabilities
520.073
251,606
Creditors: Arnounts falling due after more than one year 16
(223,344)
296,729
Net assets
251,606
Funds of the charity:
Restricted income funds
Restricted funds
33,517
11,357
Unrestricted income funds
Unrestricted funds
263,212
240,249
Total funds
17
298,729
251.606
For the financial year ending 31 August 2024 the charity was entitled to exemption from audit under
section 477 of the Companies Act 2006 relating to small companies.
Directors, responsibilities..
The members have not required the charity to obtain an audit of its accounts for the year in
question in accordance with section 476-, and
The direclors acknowledge their responsibilities for complying wrth the requirements of the Act with
respect lo accounting records and the preparation of accounts.
The financial statements on pages 7 to 17 were approved by the trustees, and authorised for issue on
2610412025
and signed on their behalf by-.
Tcmarx
Chairman and trustee
Page 8

Munchkins Miniature Shetland Rescue
Notes to the Financial Statements for the Year Ended 31 August 2024
1 Charity status
The charity is limited by guarantee, incorporated in England & Wales, and consequently does not
have share capital. Each of the trLJStees is liable to contribute an amount not exceeding £1 towards
the assets of the charity in the event of liquidation.
The address of its registered office is:
Morganhayes Farmhouse
Southleigh
Colyton
Devon
EX24 6RY
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied to all the years presented. unless othemise
stated.
Statement of compliance
The financial statements have been prepared in accordance with 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)} (issued in October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Munchkins Miniature Shetland Rescue meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise
stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as
a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by
the charity.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2Q16 and have therefore not
included a cash flow statement in these financial statements.
Page 9

Munchkins Miniature Shetland Rescue
Notes to the Financial Statements for the Year Ended 31 August 2024
Judgements and key sources of estlmation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and
assumptions that affect the amounts reported. These estimates and judgements are continually
reviewed and are based on experience and other factors, including expectations of future events that
are believed to be reasonable under the circumstances.
There are no judgements or key sources of estimation uncertainty that have a significant risk of
causing a material adjustment to assets and liabilities to be disclosed.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income
will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when Ihe charity has been notified in writing of both the amounl and
settlement date. In the event that a donation is subject to conditions that require a level of
performance by the charity before the charity is entitled to the funds, the income is deferred and not
recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly
within the control of the charity and it is probable that these conditions will be fulfilled in the reporting
period.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to
the grants have been met. Where perfomiance conditions are attached to the grant and are yet to be
met, the income is recognised as a liability and included on the balance sheet as deferred income to
be released.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of
the dividend due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is
probable settlement is required and the amount can be measured reliably. All costs are allocated to
the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot
be directly attributed lo particular headings they have been allocated on a basis consistent with the
use of resources, with central staff costs allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use. Other support costs are allocated based on the
spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the Charty in the delivery of its activities
and services for its beneficiaries. It includes both costs that can be allocated directly to such activities
and those costs of an indirect nature necessary to support them.
Page 10

*t.
Munchkins Miniature Shetland Rescue
Notes to the Financial Statements for the Year Ended 31 August 2024
Support costs
Support costs include central functions and have been allocated to activity cost Gategories on a basis
consistent with the use of resources, for example. allocating property costs by floor areas, or per
capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity's compliance with constitutional and statutory
requirements, including audit, strategic management and trustees meetings and reimbursed
expenses.
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 a charitable company for UK corporation tax purposes.
Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains
received within categories 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 charitable purposes.
Tangible fixed assets
Individual fixed assets costing £100.00 or more are initially recorded at cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any
estimated residual value, over their expected useful economic life as follows..
Asset class
Freehold property
Fixtures and fittings
Motor vehicles
Field projects
Depreciation method and rate
50/0 Straight line
200A straight line
250A reducing balance
10°k straight line
Stock
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock
to its present location and condition.
Cash and Gash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly
liquid investments that are readily convertible to a known amount of cash and are subject to an
insignificant risk of change in value.
Page11

Munchkins Miniature Shetland Rescue
Notes to the Financial Ststements for the Year Ended 31 August 2024
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs.
Interest-bearing borrowings are subsequently carried at amortised cost, wtth the difference be￿een
the proceeds, net of transaction costs, and the amount due on redemption being recognised as a
charge lo the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest
payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer
settlement of the liabiliiy for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustee5 discretion in
furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the
use of which is restricted to that area or purpose.
3 Income from donations and legacies
Unrestricted
funds
General
Restricted
funds
Total
2024
Donations
187,764
187,764
Grants receivable
27,750
27,750
27,750
215,514
187,764
Unrestricted
funds
General
Restricted
funds
Total
2023
Donations
129,843
129,843
Grants receivable
17,750
5,290
23,040
147,593
5,290
152,883
4 Income from charitable activities
Unrestrlcted
funds
General
Total
2024
Total
2023
Sale of goodslservices as part of direct charitsble
activities
1,044
1,044
304
Page 12

Munchkins Miniature Shetland Rescue
Notes to the Financial Statements for the Year Ended 31 August 2024
5 Income from other trading activltles
Unrestricted
funds
General
Total
funds
Total
2023
Fund raising events
10,489
10,489
10,489
12,165
12,165
10,489
6 Investment income
Unrestricted
funds
General
Total
2024
Total
2023
Bank interest receivable
1,451
1,451
372
7 Expenditure on charitable activities
Unrestricted
funds
General
Restricted
funds
Total
2024
Note
Charitable activities
Support costs
102,726
75,059
177,785
102,726
80,649
183.375
5,590
5,590
Unrestricted
funds
General
Restrlcted
funds
Total
2023
Not&
Charitable activities
Support costs
61,947
62,882
61.947
64,780
1,898
1,898
124,829
126,727
Page 13

Munchkins Miniature Shetland Rescue
Notes to the Financial Statements for the Year Ended 31 August 2024
8 Analysis of governance and support costs
Unrestricted
funds
General
Restricted
funds
Total
2024
Total
2023
Human resources
Govemance costs
Premises
PayPal fees
General office
Depreciation
Sundry costs
Motor and travelling costs
Fundraising costs
Loan interest
5,027
6,311
5,634
238
20,666
24,245
2,188
1,593
6,917
2,240
5,027
6,311
5,634
238
21,756
28,745
2,188
1,593
6,917
2,240
80,649
1.781
3.755
10,043
985
17,533
22,333
1,066
1,320
5,964
1,090
4,500
75,059
5,590
64,780
9 Net incomingloutgoing resources
Net incoming resources for the year include.-
2024
2023
Depreciation of fixed assets
28,745
22,333
10 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees..
K M Lavery
£146 (2023: £33) of expense5 were reimbursed to K M Lavery during the year for travel and feed
costs.
No trustees, nor any persons connected with them, have received any remuneration from the charity
during the year.
No trustees have received any other benefits from the charity during the year.
11 Independent examiner's remuneration
2024
2023
Fees payable to the independent examiner for..
Independent examination of the financial statements
621
578
Page 14

Munchkins Miniature Shetland Rescue
Notes to the Financial Statements for the Year Ended 31 August 2024
12 Tangible fixed assets
Freehold
land and
buildings
Furniture
and
equipment
Motor
vehicle5
Field
projects
Total
Cost
At 1 September 2023
Additions
94,866
238,615
19,587
14,498
50,862
85.769 251,084
54,811
307,924
At 31 August 2024
333,481
34.085
50,862
140,580 559,008
Depreciation
At 1 September 2023
Charge for the year
At 31 August 2024
Net book value
25,754
5,002
10.367
5.876
32.874
4,498
40,622 109,617
13,369
28,745
30,756
16,243
37,372
53,991
138,362
At 31 August 2024
302,725
17,842
13,490
86,589 420,646
At 31 August 2023
69,112
9,220
17,988
45,147 141,467
13 Stock
2024
2023
Stocks
2,500
1.351
14 Debtors
2024
2023
Accrued income
6,530
14.263
15 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Loans
Accruals
297
1,331
3,641
2.494
1,075
5,269
3,569
16 Creditors: amounts falling due after one year
2024
2023
Loans
223,344
Page 15

Munchkins Miniature Shetland Rescue
Notes to the Financial Statements for the Year Ended 31 August 2024
17 Funds
Balance at 1
September
2023
Balance at
31 August
2024
Incoming
resources
Resources
expended
Unrestricted funds
General
General Funds
240,249
200,748
(175,545)
265,452
Restricted funds
Animal Rescue Foundation
Hilda Holmes Trust
Animal Friends Pet Insurance
5,267
5.000
1,090
4,000
23,750
(411)
(4,089)
(1,090
(5,590)
8,856
24,661
11,357
27,750
33,517
Total funds
251,606
228,498
(181,135
298,969
Balance at 1
September
2022
Balance at
31 August
2023
Incoming
resources
Resources
expended
Unrestricted funds
General
General Funds
204,644
160,434
{124,829)
240,249
Restricted funds
Animal Rescue Foundation
Hilda Holmes Trust
Animal Friends Pet Insurance
1,678
5,000
1,287
4,000
(411)
5,267
5,000
1,090
11,357
1,290
(1,487)
{1,898}
7,965
5,290
Total funds
212,609
165,724
{126.727)
251,606
Animal Friends Pet Insurance - This fund was held specifically to be spent on insurance.
Animal Rescue Foundation
shelter.
This fund was held specifically for capital expenditure on the field
Hilda Holmes Trust - This fund is held specifically for capital expenditure towards the new track
system.
Page 16

Munchkins Miniature Shetland Rescue
Notes to the Financial Statements for the Year Ended 31 August 2024
18 Analysis of net assets between funds
Unrestricted
funds
General
Total funds
at 31 August
2024
Restricted
funds
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
387,129
104,696
(5,269)
(223,344)
33,517
420,646
104.696
(5,269)
(223,344)
296.729
Total net assets
263,212
33,517
Unrestricted
funds
General
Totsl funds
at 31 August
2023
Restricted
funds
Tangible fixed assets
Current assets
Current liabilities
140,200
103,618
(3,569)
240,249
1,267
10,090
141,467
113,708
13,569)
Total net assets
11,357
251,606
19 Related party transactions
The land that the Charity operates on was owned by Paul and Tammy Marx. During the year this land
was purchased in the fomi of a loan from the trustee, the addition can be seen in Freehold additions.
At the end of the year there was a balance of £224,675 owed by the Charity to Paul and Tammy.
Tammy is a current trustee of the Charity.
Page 17