Charity number: 1160941 FRIENDS OF THE FRIARAGE UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Armstrongwatson. Accountants, Business & Financial Advisers
FRIENDS OF THE FRIARAGE CONTENTS Page Reference and Administrative Details of the Charitable incorporated organisation, its Trustees and Advisers Trustees. Report Independent Examiner's Report ststement of Financial Activities Balance Sheet Notes to the Financial Statements 8-22
FRIENDS OF THE FRIARAGE REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE INCORPORATED ORGANISATION, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees S Watson, Co chaInan Dr A Walters, Co Chairman Prof M Bramble, Trustee D Brearley. Trustee J Dixon, Trustee A Finlay, Trustee (appointed 1 November 2023) S-J Harrison. Trustee (appointed 1 November 2023) B Howard, Trustee {appointed 1 November 2023) S Jamieson, Trustee & Treasurer (appointed 1 October 2023) S Lamb. Trustee K Nelson, Trustee (appointed 1 November 2023) J Greenwood. Treasurer (resigned 10 October 2023) D Jermyn, Trustee (resigned 31 August 2023) K Metcalfe, Trustee (resigned 21 November 2024) L Proud, Trustee J Scribbins, Trustee (appointed 22 September 2023) Charity registered number 1160941 Principal office Room 47, Admin Building Friarage Hosprtal Northallerton North Yorkshire DL6 1JG Accountants Amistrong Watson LLP Chartered Accountants York House Thornfield Business Park Northallerton North Yorkshire DL6 2XQ Page 1
FRIENDS OF THE FRIARAGE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together with the financial statements of the charitable incorporated organisation Friends of the Friarage for the period 1 April 2023 to 31 March 2024. The Trustees confirm that the Annual Report and financial statements of the charitable incorporated organisation comply with the current statutory requirements, the requirements of the charrtable incorporated organisation's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) {effective 1 January 2019). Objectives and activities Policies and objectives The object of the charity is to relieve patients and fomier patients of the Friarage Hospital and Health Centres in the Hambleton and Richmondshire district. who are sick. convalescent, disabled, infirm and, generally. to support the charitable works of the said Friarage Hospital and the Health Centres in the Hambleton and Richmondshire district. b. Activities undertaken to achieve objectives This is achieved by providing a shop serwce for the benefrt of staff, patients and visitors to the hospital,. the provision of gifts to patients and the purchase of essential equipment and facilities as agreed with the hospital trust via a range of fundraising activities. Achievements and performance . Achievements After a period of intense investment in hospital services the trustees ensured the approved projects were ompleted and made several grants to support staff, care and services in line wth our Objects. We continued our discussions with the Friarage Hospital management team to explore how best to offer support. This culminated, at the end of this planning period. in March 2024. with the launch of a major fundraising campaign in support of eye services at the hospital. This has gone on to be the focus of attention throughout 2024-25. Financial review . Going concern The receipt of significant legacies during 2023-24 replaced funds previously distributed to charity projects. Together with increasingly strong performance by the Hospital Shop and the fundraising activities of local supporters we ended the year in a strong financial position. The Trustees therefore conclude that the Charity has sufficient resources to continue in operational existence for the foreseeable future and continue to adopt the going concern basis in preparing the financial statements. Page 2
FRIENDS OF THE FRIARAGE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 b. Reserves policy The provision of funds to care for patients and to provide items for specific projects is undertaken when the needs are identified by the Health Trust. The reseNes policy therefore must be consistent with smoothing the peaks and troughs of income and expenditure. The Trustees feel that it is prudent to hold free reserves to cover known liabilities, potential redundancies and other costs that may occur in the wnding up of the charity and have identified this sum at £89,345. As at 31 March 2024, free reserves (unrestricted general fund less tangible fixed assets and stock) of the charity are £489,081 and are above the required reserves level. The Trustees allocated at least £100.000 in the budget for 2024-25 for expenditure on items identified and requested by departments wthin the Hospital. c. Principal funding Apart from the income generated by the shop. the principal funding sources are those from fundraising events, donations and legacies from the local community- This by its very nature varies from year to year. Structure, govemance and management . Constitution Friends of the Friarage is a Charitable Incorporate Organisation {CIO) and is constituted under a Trust Deed wth registration number 1160941. b. Methods of appointment or election of Trustees Members of the management committee vtho are Tnjstees for the purpose of Charity Law, who have served during the period are set out in the Trustees Report. The committee is elected by Trustees of the Friends and each year one third retire and may be put forward for re-election. New Trustees are actively encouraged from the local community. c. Financial risk management The Board of Trustees meets on a regular basis. normalty every two months, offering in-person and online meeting options. Our financial position is reviewed via dedicated finance committee meetings and regular reports by the Treasurer to the full Board of Trustees. In summer 2023 we held a strategy planning day with all trustees. This included a robust analysis of our current financial position and intended expenditure. We repeated this exercise in summer 2024. Our plans and intended expenditure are set in accordance with our available funds. The Trustees have assessed the major risks to vthich the Charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. Page 3
FRIENDS OF THE FRIARAGE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans for future periods The Charity plans to continue its present actiwties in the future. Funds are available to meet future needs where these have been identified. In 2024-25 the Charity continues to work the Hospital Trust to develop and implement an agreed investment plan. This has included a larg&scale fundraising challenge for specialist eye surgery equipment while maintaining a range of smaller opportunities that appeal to local community fundraisers. This work continues wth a target date for completion set at July 2025. Discussions are underway with the clinical teams at the hospital to explore how best the Charity can support them as they move into new surgical premises and demand for medical services continues to grow. ststement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance wth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charitable incorporated organisation and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suitsble accounting policies and then apply them consistently- observe the methods and principles of the Charities SORP (FRS 102)., make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards (FRS 102) have been followed. subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable incorporated organisation wll continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable incorporated organisation's transactions and disclose with reasonable accuracy at any time the financial position of the charitable incorporated organisation and enable them to ensure that the financial statements comply the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable incorporated organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by: S Jamieson Treasurer Date.. 16 January 2025 Page 4
FRIENDS OF THE FRIARAGE INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent examiner's report to the Trustees of Friends of the Friarage ('the charitable incorporated oryanisation.) I report to the charity Trustees on my examination of the accounts of the charitable incorporated organisation for the year ended 31 March 2024. Responsibilities and Basis of Report As the Trustees of the charitable incorporated organisation you are responsible for the preparation of the accounts in accordance the requirements of the Charities Act 2011 {'the 2011 Act,). report in respect of my examination of the charitable incorporated organisation's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent Examiner's Statement This report is made solely to the charitable incorporated organisation's Trustees, as a body. in accordance with Part 4 of the Charities {Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charitable incorporated organisation's Trustees those matters l am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable incorporated organisation and the charitable incorporated organisation's Trustees as a body. for my VK)rk or for this report. Signed.. Dated: 16 January 2025 Helen Robinson ACCA Armstrong Watson LLP Chartered Accountants Northallerton Page 5
FRIENDS OF THE FRIARAGE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Other trading activities Investments 315.377 218.577 693 315,377 218,577 693 44,577 171,415 543 Total incom8 534,647 534,647 216,535 Expenditure on: Raising funds Charitable activities 220,577 36.501 220,577 36,501 187,650 110,429 Total expenditure 257,078 257,078 298,079 Net incomel(expenditure) before net losses on investments Net losses on investments 277.569 277.569 (81,544) (6,1401 Net movement in funds 277.569 277.569 (87,684} Reconciliation of funds: Totsl funds brought forward Net movement in funds 435,620 277,569 6.718 442,338 277,569 530,022 (87,684) Total funds carried fonNard 713,189 6,718 719,907 442,338 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 8 to 22 fomi part of these financial statements. Page 6
FRIENDS OF THE FRIARAGE BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets Investments 6,067 223,096 7,137 223,096 12 229,163 230,233 Current assets Stocks Cash at bank and in hand 13 13,101 489,854 12,182 241,297 502,955 253,479 Creditors.. amounts falling due vthin one year 14 112,211 (41,374} Net current assets 490,744 212,105 Total assets less current liabilities 719,907 442,338 Total net assets 719,907 442,338 Charity funds Restricted funds Unrestricted funds 15 6,718 713,189 6,718 435,620 15 Total funds 719,907 442,338 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. S Jamieson Treasurer (Chair of Trustees) Date.. 16 January 2025 The notes on pages 8 to 22 fomi part of these financial statements. Page 7
FRIENDS OF THE FRIARAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance wth the Charities SORP (FRS 102) Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. Friends of the Friarage meets the definition of a public benefrt entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwse stated in the relevant accounting policy. 1.2 Fund accounting General funds are unrestricted funds v4hich are available for use at the discretion of the Trustees in furtherance of the general objectives of the charitable incorporated organisation and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance Yth specific restrictions imposed by donors or which have been raised by the charitsble incorporated organisation for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. 1.3 Income All income is recognised once the charitable incorporated organisation has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the charitable incorporated organisation has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid wll and the death of the benefactor) and the executor is satisfied that the propety in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which wll generally be the expected cash amount to be distributed to the charitsble incorporated organisation, can be reliably measured. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tsx recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 8
FRIENDS OF THE FRIARAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 1.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity- Direct costs attributsble to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent wth the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the porb'on of the asset's use. Expenditure on raising funds includes all expenditure incurred by the charitable incorporated organisation to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the charitable incorporated organisation's objectives. as Y11 as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 1.5 Tangible fixed assets and depreciation Tangible fixed assets are initialty recognised at cost. After recognttion, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls beeen the carrying value of fixed assets and their recoverable amounts are recognised as impaiments. Impairment losses are recognised in the Statement of financial activities. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the foll0Yng basis= Fixtures and fittings 15% reducing balance 1.6 Investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case ti is measured at cost less impairment. Investment gains and losses. whether realised or unrealised. are combined and presented as 'Gainsl(Losses) on investments, in the Statement of Financial Activities. Investments held as fixed assets are shown at cost less provision for impairment. 1.7 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Page 9
FRIENDS OF THE FRIARAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 1.8 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charitable incorporated organisation- this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 1.9 Debtor5 Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.10 Cash at bank and in hand Cash at bank and in hand includes cash and short-temi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.11 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charitable incorporated organisation anticipates it wll pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. Page10
FRIENDS OF THE FRIARAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacies Unrestricted funds 2024 Total funds 2024 Donations 17,538 286,439 11,400 17,538 286.439 11,400 Legacies Similar incoming resources Total 2024 315,377 315,377 Unrestricted funds 2023 Total funds 2023 Donations Similar incoming resources 27,790 16,787 27,790 16,787 Total 2023 44,577 44,577 Shop perfomiance 2024 2023 Shop and Trolley income 218,577 171,399 other income and interest 320 275 Total income 218,897 171,674 Wages (34,179) (31,965) Purchases (154.610) (133,195) Other expenses (7,781) (7,246) Total expenses {196,570) (172,406) Shop Surplusl{deficit) 22,327 (731) Page11
FRIENDS OF THE FRIARAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from charitable activities Income from fundraising events Unrestricted funds 2024 Total funds 2024 Shop and trolley income 218,577 218,577 Unrestricted funds 2023 Total funds 2023 Shop and trolley income 171,415 171,415 Investment income Unrestricted funds 2024 Total funds 2024 Business base tracker account 693 693 Unrestricted funds 2023 Total funds 2023 Business base tracker account 543 543 Page 12
FRIENDS OF THE FRIARAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on raising funds Unrestricted funds 2024 Total funds 2024 Purchases shop and trolley Staff costs Accountancy shop and trolley Maintenance shop and trolley Postage and stationery 166,039 50,320 100 4,019 99 166,039 50,320 100 4,019 99 220,577 220,577 Unrestricted funds 2023 Total funds 2023 Purchases shop and trolley staff costs 124,107 59,397 100 124,107 59,397 100 Accountancy shop and trolley Maintenance shop and trolley Postage and stationery 3,379 667 3,379 667 187,650 187,650 Page13
FRIENDS OF THE FRIARAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2024 Total 2024 Shop and trolley 36,501 36,501 Unrestricted funds 2023 Restricted funds 2023 Total 2023 Friends of the Friarage expenses Donations for hospital 108,948 108,948 1,481 1,481 108.948 1.481 110,429 Summary by expenditure type Staff costs Depreciation Other costs 2024 2024 2024 Total 2024 Shop and trolley 13.036 1,070 22,395 36,501 Staff costs Depreciation Other costs 2023 2023 2023 Total 2023 Friends of the Friarage expenses Donations for hospital 13,252 1,259 94,437 1,481 108,948 1,481 13.252 1,259 95,918 110,429 Page 14
FRIENDS OF THE FRIARAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure by activities Support costs 2024 Total funds 2024 Shop and trolley 36,501 36,501 Support costs 2023 Total funds 2023 Shop and trolley Donations for hospital 108,948 1,481 108,948 1,481 110,429 110,429 Analysis of support costs Total funds 2024 Total funds 2023 Depreciation Accountancy fees Legal and professional Payments to hospital Sundry costs Bank charges Advertising and marketing Printing and stationery IT soknre and consumables 1,070 4,681 2,364 300 3,595 1.660 5,538 529 1,259 7,692 1,020 67,736 3,237 1.528 6,586 787 171 359 Telephone Subscriptions Insurance 1,333 216 1,235 1,080 928 1,564 4,174 13.252 General costs Governance costs 13.036 36,501 110,429 Page15
FRIENDS OF THE FRIARAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Staff costs 2024 2023 Administrator salary Shop & trolley staff costs 13,036 50.320 13,252 61,521 63,356 74.773 The name of the secretary who received a salary is Mrs C Cury who is not a Trustee of the charitable incorporated organisation. The average number of persons employed by the charitable incorporated organisation during the year was as follows.. 2024 No. 2023 No. staff numbers No employee received remuneration amounting to more than £60.000 in either year. 10. Trustees, remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 March 2024. no Trustee expenses have been incurred (2023 - £NIL). Page 16
FRIENDS OF THE FRIARAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Tangible fixed assets Fixtures and fittings Cost or valuation At 1 April 2023 60,495 At 31 March 2024 60,495 Depreciation At 1 April 2023 Charge for the year 53,358 1,070 At 31 March 2024 54,428 Net book value At 31 March 2024 6,067 At 31 March 2023 7,137 Page 17
FRIENDS OF THE FRIARAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Fixed asset investments Listed investments Cost or valuation At 1 April 2023 223,096 At 31 March 2024 223,096 Net book value At 31 March 2024 223,096 At 31 March 2023 223,096 The fixed asset investments relate to an investment portfolio managed by Barclays Bank UK PLC. Page18
FRIENDS OF THE FRIARAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Stocks 2024 2023 Finished goods and goods for resale 13,101 12,182 14. Creditors: Amounts falling due within one year 2024 2023 Trade creditors 7,319 1,562 55 1,813 886 Other taxation and social security Pension fund loan payable Accruals and deferred income 3,275 38,676 12.211 41,374 Page19
FRIENDS OF THE FRIARAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Statement of funds Statement of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Income Expenditure Unrestricted funds Reserves 435,620 534,647 (257,078 713,189 Restricted funds Restricted Funds - all funds 6,718 6,718 Totsl of funds 442,338 534,647 (257,078} 719,907 statement of funds - prior year Balance at 31 March 2023 Balance at 1 April 2022 Gainsl (Losses) Income Expenditure Unrestricted funds Reserves 521,823 216,535 (296,598) (6,1401 435,620 Restricted funds The Rutson fund 7,074 1,050 75 (1,481) 5,593 1,050 75 Ambulatory care fund Respiratory department fund 8,199 {1,481) 6,718 Total of funds 530,022 216,535 (298,079) (6,1401 442,338 Page 20
FRIENDS OF THE FRIARAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Summary of funds Summary of funds- current year Balance at 31 March 2024 Balance at 1 April 2023 Income Expenditure General funds 435,620 6,718 534,647 (257,078} 713,189 6,718 Restricted funds 442,338 534,647 (257,078} 719,907 Summary of funds- prior year Balance at 31 March 2023 Balance at 1 April 2022 Gainsl (Losses) Income Expenditure General funds Restricted funds 521.823 8,199 216.535 (296.5981 (1,481) 16.1401 435,620 6,718 530,022 216.535 (298.0791 16,1401 442,338 Page 21
FRIENDS OF THE FRIARAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Analysis of net assets between funds Analysis of net assets between funds - current period Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Fixed asset investments (6511 223,096 502,955 (12.211) 6,718 6.067 223,096 502,955 (12,211) Current assets Creditors due wthin one year Total 713.189 6,718 719,907 Analysis of net assets between funds - prior period Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Tangible fixed assets Fixed asset investments 7,137 223,096 246.762 (41,374} 7,137 223,096 253,480 (41,374) Current assets 6.718 Creditors due wthin one year Total 435.620 6,718 442,338 18. Related party transactions There have been no related party transactions during the year. Page 22