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2022-12-31-accounts

REGISTERED CHARITY NUMBER: 1161069

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2022

for

THE ISOKON GALLERY TRUST

Praxis 1 Poultry London EC2R 8EJ

THE ISOKON GALLERY TRUST

Contents of the Financial Statements for the year ended 31 December 2022

Page
Report of the Trustees 1 to 5
Independent Examiner’s Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 13

Report of the Trustees for the year ended 31 December 2022

THE ISOKON GALLERY TRUST

The Isokon Gallery Trustees present their report and the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 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 published in October 2019.

Objectives and activities Objectives and aims

The object of the charitable incorporated organisation is to advance the education of the public in the subjects of modern architecture and social history, in particular but not exclusively by:

Significant activities

The period from March through October 2022 was our ninth season, and the first full season after the various closures resulting from lockdown measures imposed by the UK government in response to the Covid pandemic in the two preceding years. The season’s total for weekend visitors and occasional groups was c.4,800 which compares with 4,602 for the last normal season (2019).

We took part in the Open House weekend and once again we were able to open for a pre-Christmas gift shopping day. Open House in particular brings greatly increased numbers to the building and accordingly also to the Gallery and giftshop, easily surpassing figures for any other weekend of our season. Several residents very generously agreed to open their flats for public viewing over the Open House weekend, for which we are most grateful.

Entry remains free of charge, though a donation box, and now a donation card reader, are provided and many visitors kindly made contributions, which though modest (typically £5 or less) all help towards the finances of the Gallery.

Public benefit

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charities Commission relating to public benefit. The Gallery is entirely directed towards providing public benefit as indicated above, with none of the Trustees or volunteers receiving any remuneration for their input.

Volunteers

The staffing regime has remained consistent, the Gallery being stewarded (gratis) by Volunteers on a two shift per day basis, with two persons on duty in each shift - one operating the gift/ sales function and keeping a tally of visitors, the other supervising the Gallery area itself and assisting visitors with additional information on the exhibition.

Here we record our great thanks to the dedication and loyalty of our Volunteers and Coordinators, specifically to Scott Hutchison, Fred Dornier and Roland Jeffery who have served as Coordinators of the volunteering rota during the 2022 season, and whom we gratefully acknowledge here. We also say a valedictory ‘thank you’ to both Fred and Roland who are now stepping down from the role. However, we are delighted that Scott Hutchison, already a Coordinator and Volunteer, has offered to stay on to mentor and support our new Coordinators Peng Lee and Lynn Reynolds.

All new Volunteers are given a half-day induction session before the season begins, or on joining the team, and reviews of any Volunteer feedback on the operation of the Gallery are maintained by the Trustees. Fortunately, our friend and supporter Tom Broughton very generously allowed us to use his Penthouse terrace for a summer barbeque where we were able to thank the Volunteers for their commitment and support. The party provided an opportunity for Volunteers who might not have coincided on weekend shifts to meet each other in person. Additionally, John Allan, Chairman of the Trust, took this opportunity to give a short resumé of the season to date with statistics for visitor numbers and gift shop takings.

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Report of the Trustees for the year ended 31 December 2022

THE ISOKON GALLERY TRUST

Volunteers (continued)

Maintaining an active and adequate Volunteer network is an essential and ongoing aspect of operating the Isokon Gallery successfully. Inevitably inputs vary according to individual circumstances, and some original participants move on. The Trustees and the Coordinators continue to consider ways of attracting new Volunteers and retaining existing ones. The objective is to provide volunteering opportunities for everyone who wishes to participate, whilst ensuring nobody feels obliged to shoulder a disproportionate degree of duty. It is gratifying to report that at no time this season was the Gallery unable to open on account of lack of Volunteers from the network.

Achievement and performance - Charitable activities

Visitors

The Gallery was open for 70 days in total during the 2022 season – a full normal season. - and received a total of 4,603 weekend visitors – 2,656 more than the previous season reflecting the recovery from Covid impacts – and slightly in excess of the last normal season total. Within this figure the diversity of visitors remained impressive in terms of age, nationality and interest. The weekend visitor numbers are supplemented by intermittent weekday (paying) group visits that take place by special arrangement, and by the special pre-Christmas open day for shopping, bringing the total to c. 4,800.

Additionally, through the generosity of one of our resident volunteers, Paul Fellerman, visitors are offered the opportunity of seeing his own flat, an authentically furnished minimum studio apartment, subject to making a donation to the charity. This offer, available on days when Paul is volunteering, is hugely appreciated by visitors fortunate enough to be present at the time.

Promotion

The Gallery continues to feature in a number of London tourist guides. The Gallery website provides an important platform, increasingly amplified by the social media and visitor response has indicated that this has been an effective factor in its promotion, especially in restoring its following after Lockdown. Tom de Gay’s continued commitment to maintaining and enhancing the website is invaluable, and Mike Martin’s input on the Twitter social media platform is also greatly appreciated. Media reviews remain consistently favourable.

Though more difficult to measure, there has also been the effect of a burgeoning 'word of mouth' network, and visitors following up news of apartments for sale. Supporting events, such as Gallery talks, select corporate receptions and the occasional book launch also help to project wider awareness of the Gallery's existence. For reasons stated, this aspect of the Trust’s normal activity was curtailed in the 2020/2021 seasons, but has now resumed. A two-page Factsheet originally produced for the benefit of visitors on Open House weekend, is now offered free to all interested visitors.

The Isokon Gallery continues to be a member of the international Iconic Houses network. In this connection a special ‘virtual tour’ was organised and promoted via livestream, the filming being undertaken by Allan Brothers Films and followed by a live on-line Q & A session with an international audience. The hour-long tour featured one of the studio flats and also the penthouse, as well as the Isokon Gallery itself. This film is now lodged on the Gallery website. It is the intention to edit this down to a shorter version featuring just the studio and penthouse interiors to show in the Gallery A/V unit for the benefit of visitors who are usually unable to have access to any occupied units.

We have also continued to maintain an informal but mutually beneficial link with the National Trust property at 2 Willow Road, with visitors transiting between the venues.

Docomomo International Rehabilitation Award

In 2021 Docomomo (the international network founded in 1990 to promote the documentation and conservation of Modern Movement buildings and sites, and now established in over 70 countries worldwide) launched a new award programme to recognise exemplary projects of rehabilitation and reuse in significant modern buildings. The Isokon Gallery submitted an entry, featuring both the Isokon restoration and the creation of the Gallery itself, and received an award in the category ‘Conservation through Activism’ – the only UK entry to win an award. The full results of the competition (which includes award winners in Europe, the USA and Australia) are now published in Modern Heritage , by Birkhauser, Basel. ISBN 978-3-0356-2508-0, 2022 Ed. Ana Tostoes. (See also below – Gallery Talks.)

Annual feature – Agatha Christie

The theme for the 2021 season was Agatha Christie, perhaps the best known of our many distinguished Isokon residents. The materials included the usual 4-panel array with a selection of AC’s books and an original typewriter displayed below. A bust of the author has also been generously lent by Mr Matthew Pritchard, the author’s grandson, from the AC Archive. In addition a short film created by Allan Brothers Films, was produced and shown on a loop in the new A/V facility in the Gallery.

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THE ISOKON GALLERY TRUST

Report of the Trustees for the year ended 31 December 2022

Annual feature – Agatha Christie (continued)

In view of the lost openings due to Covid closures of 2021 it was decided to retain this feature, which has proved extremely popular with visitors, for the 2022 season.

The changing annual exhibits greatly enrich the visitor experience and similar seasonal features, which help to refresh the Gallery offer alongside the permanent exhibition, will remain an integral part of our programme going forward. This, and previous seasonal displays, are uploaded on to the Gallery website to provide a permanent record of this element of our activity. The proposed feature for the 2023 season will focus on the Mall Studios, the nearby enclave of artists’ studios that became famous in the 1930s through their association with British modern art and the work of several of their occupants, including Barbara Hepworth and Ben Nicholson and others such as Henry Moore and Piet Mondrian. Celia Scott, a current resident of the Mall Studios has graciously agreed to guest curate this display.

Gallery Talks

The talks programme has been a regular feature of the season and is an important component of our annual revenue, as unlike the normal free visiting regime, these events must be pre-booked with paid tickets in order to control numbers. The previous two seasons had impacted this aspect of our activities, but in 2022 we were able to resume with several well-attended talks including one by Hamed Khosravi to mark the publication of his book Gabriel Guevrekian – The Elusive Modernist, one by Ana Tostoes President of Docomomo International on her new book Modern Heritage as noted above, and one by Tom Weidlinger on the remarkable story of his father the engineer Paul Weidlinger, in his biography The Restless Hungarian. Another highly successful event was kindly organised with the help of Paul Fellerman as an invited evening presentation for shareholders of Sigma-Roc one of the Gallery’s foremost benefactors.

Publications and acquisitions

Last year we were pleased to record the Pritchard family’s kind loan of the unique aluminium waste paper basket designed by Walter Gropius. During the year it became necessary for the family to consider selling this unique item to raise funds, which presented the prospect of it passing into the hands of a private collector. Thanks to the great generosity of Moomin Characters oy ltd, who made a decisive contribution towards its purchase by the Gallery itself, we were able to afford the requisite balance to secure the item for the charity, thereby enabling the piece to remain on display.

Other recent acquisitions kindly offered by the Pritchard family include a set of three very fine original period photographs, which are now on permanent display on the Gallery wall.

The Giftshop

The small ‘gift shop’ in the Gallery continues to be the major source of our revenue, helping to meet our ongoing outlay for service charges, insurance, security, maintenance and various other costs. The provision of an online retail facility for the giftshop, originally introduced to help offset lost counter sales during Lockdowns, has proved highly beneficial in compensating for this shortfall and now represents a significant complementary source of regular revenue.

Aside from our own publications, the Gallery giftshop continues to carry a select range of books and magazines including general histories and studies of modern architecture and design, specialist biographies and monographs. Additionally, there is a wide range of other items for sale, from tableware, crockery, trays and tea towels, to lapel badges, novelty games, post cards, T shirts, maps and fridge magnets. From sales patterns to date, it appears that books generate the most revenue, whilst the custom-designed mugs featuring an image of the Isokon building itself are one of the more popular themed items, and will shortly sell out. All proceeds from the giftshop are applied to meet Gallery running costs. Gallery Director and Trustee Magnus Englund continues to keep the stocklist updated and supplied with new items.

New 2022 books acquired for the shop this season include original titles by the Chairman, John Allan – Revaluing Modern Architecture – Changing Conservation Culture , RIBA Publishing, and Walter Gropius – An illustrated biography, by Leyla Daybelge, another of our Trustees, and Magnus Englund, the Gallery Director. This title is published by Phaidon.

Financial review

Principal funding sources

A list of sponsors to date follows, and the Trustees wish to take this opportunity to reiterate their great appreciation of their generous support.

Corporate Sponsors

Aram, Artek, Atrium, Avanti Architects, Conisbee, Cubitts, CWM, Praxis, Isokon Plus, Gubi, Ittalia

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Report of the Trustees for the year ended 31 December 2022

THE ISOKON GALLERY TRUST

Corporate Sponsors (continued)

Max Fordham, Margaret Howell, Moomin, Paul Smith, Penguin, RIBA, SCP, Sharpe Pritchard, Sigma Roc, Skandium, SKE, Stace, The Modern House, The Moholy-Nagy Foundation, Vitra, and Vitsoe,.

Individual Sponsors

Matthew & Susanna Wells Cohn, Jonathan and Maria Pritchard & Family, Chris and Lone McCourt, Richard Rogers, Max Jankel Sterne, Paul and Marc Fellerman, Andrew Perloff, David Usborne and Alex Shall. We take this opportunity to record our gratitude for all the above benefactions. The Pritchard family have also most generously donated the royalties derived from the Isokon Plus furniture operation. Tom de Gay’s continuing pro-bono support as in-house designer is deeply valued. The Gallery has also benefited from the generosity of artist Peter Wylie who shares the proceeds from his artwork sales.

Reserves policy

Since its inception, the Gallery's financial resources have been based essentially on three sources: sponsorship from the wide variety of individual and corporate benefactors (see above); start-up interestfree loans by two of the Trustees (now fully repaid), and revenue receipts from the giftshop and lecture ticket sales, augmented by fee paying visits by pre-arranged corporate or institutional groups. A Donate facility has also now been installed on the Gallery website.

Whilst the Isokon Gallery will continue to seek further sponsorship from both individual and corporate benefactors, it is the Trustees' objective to consolidate its financial position such that it is wholly sustainable by revenue from giftshop sales and charges made for specialist use of the venue for talks and other events. Detailed figures for the year ending 31 December 2022 are included in the annual accounts. The charity does not designate income for specific activities as all unrestricted income is applied to the running of the Gallery.

Structure, governance and management

Governing document

The charity is controlled by its governing document, a CIO constitution and constitutes a charitable incorporated organisation.

Appointment of new Trustees

The management of the charity is the responsibility of the Trustees who are elected under the terms of the constitution. It was noted in our last Annual Report that when the immediate issues of dealing with Covid had been resolved the Trustees intended to appoint further Trustees. This has now been accomplished, and we are delighted to record that two new Trustees, Leyla Daybelge and Tom de Gay have been appointed. Both Leyla and Tom have been closely involved with the Gallery since its inception, Leyla in the research and production of material for our seasonal displays, film projects, press releases, etc, and Tom in the design and production of all the Gallery’s graphic identity and digital presence.

Organisational structure

The Isokon Gallery Trust is managed by the Board of Trustees who confer regularly and are responsible for the strategic direction and policy of the charity. At present the Board has five members from a variety of professional backgrounds relevant to the work of the charity. The Coordinators of the Volunteers are also an integral part of the management of the duty rota, and induction of new Volunteers and play a valuable part in contributing to other Gallery management issues.

Premises

The Isokon Gallery Exhibition continues to occupy the former garage space adjoining the main Isokon building, the Trust being the lessee of Notting Hill Genesis on a 21 year term from 9[th] July 2014 let on a peppercorn rent. The Trust pays a monthly service charge computed on the floor area of the space relative to that of other occupants of the building. The Trust takes this opportunity to express their appreciation to their landlord, Notting Hill Genesis.

Reference and administrative details

Registered Charity number 1161069

Principal address Magnus Englund (Director), The Isokon Gallery Trust, c/o 25 Whitehall Lodge, Pages Lane, London N10 1NY

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THE ISOKON GALLERY TRUST

Report of the Trustees for the year ended 31 December 2022

Trustees
Mr J Allan Chairman
Mr K M W Englund Director
Ms F H Lamb Treasurer
Ms Leyla Daybelge Trustee
Mr Tom de Gay Trustee

Approved by order of the board of trustees on 27 October 2023 and signed on its behalf by:

Mr J Allan - Trustee

5

Independent Examiner’s Report to the Trustees of The Isokon Gallery Trust for the year ended 31 December 2022

Independent examiner's report to the trustees of The Isokon Gallery Trust

I report to the charity trustees on my examination of the accounts of The Isokon Gallery Trust for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts 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 examination.

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.

Alexander Shall, FCA

Praxis 1 Poultry London EC2R 8EJ

27 October 2023

6

THE ISOKON GALLERY TRUST

Statement of Financial Activities for the year ended 31 December 2022

2022 2021
Unrestricted
fund Total funds
Notes £ **£ **
Income and endowments from
Donations and legacies 11,354 3,188
Other trading activities 3 31,191 17,087
Total 42,545 20,275
Expenditure on
Raising funds 23,797 7,343
Charitable activities
Isokon Gallery 12,651 16,304
Other 1,000 1,000
Total 37,448 24,647
NET INCOME/(EXPENDITURE) 5,097 (4,372)
Reconciliation of funds
Total funds brought forward 42,733 47,105
Total funds carried forward 47,830 42,733

All income and expenditure derive from continuing activities.

The statement of financial activities includes all gains and losses recognised during the year.

The notes form part of these financial statements

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THE ISOKON GALLERY TRUST

Balance Sheet 31 December 2021

2022 2021
Unrestricted
fund Total funds
Notes £ £
Fixed assets
Tangible assets 6 11,623 14,354
Heritage assets 7 1,825 1,865
13,448 16,219
Current assets
Stocks		 8 18,743 15,787
Debtors 9 568 626
Cash at bank 16,233 10,220
35,544 26,633
Creditors
Amounts falling due within one year 10 (1,162) (119)
Net current assets 34,382 26,514
Total assets less current liabilities 47,830 42,733
NET ASSETS 47,830 42,733
Funds 11
Unrestricted funds 47,830 42,733
Total funds 47,830 42,733

The financial statements were approved by the Board of Trustees and authorised for issue on 27 October 2022 and were signed on its behalf by:

Mr J Allan - Trustee

The notes form part of these financial statements

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THE ISOKON GALLERY TRUST

Notes to the Financial Statements - continued for the year ended 31 December 2022

1. Statutory information

The Isokon Gallery Trust is a Charitable Incorporated Organisation incorporated in England. In the event of the charity being wound up, the members have no liability to contribute to its assets. The charity’s principal address can be found in the Report of the Trustees.

2. Accounting policies

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011.

The financial statements have been prepared under the historical cost convention. The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Income

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees’ Annual Report.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

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THE ISOKON GALLERY TRUST

Notes to the Financial Statements - continued for the year ended 31 December 2022

2. Accounting policies - continued

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures and fittings - 10% on cost

Heritage assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Heritage asset - 2% on cost

Stocks

Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

3. Other trading activities

Other trading activities
2022 2021
£ £
Shop income 31,191 17,087

4. Trustees' remuneration and benefits

There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.

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THE ISOKON GALLERY TRUST

Notes to the Financial Statements - continued

for the year ended 31 December 2022

5. Comparatives for the statement of financial activities
Unrestricted
fund
£
Income and endowments from
Donations and legacies 3,188
Other trading activities 17,087
Total 20,275
Expenditure on
Raising funds 7,343
Charitable activities
Isokon Gallery 16,304
Other 1,000
Total 24,647
NET INCOME (4,372)
Reconciliation of funds
Total funds brought forward 47,105
Total funds carried forward 42,733

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THE ISOKON GALLERY TRUST

Notes to the Financial Statements - continued

for the year ended 31 December 2022

6. Tangible fixed assets
Fixtures
and
fittings
£
Cost
At 1 January 2022 27,312
Additions -
At 31 December 2022 27,312
Depreciation
At 1 January 2022 12,958
Charge for year 2,731
At 31 December 2022 15,689
Net book value
At 31 December 2022 11,623
At 31 December 2021 14,354
7. Heritage assets
Total
£
Cost/valuation
At 1 January 2022 1,865
Provisions
Charge for the year		 40
Net book value
At 31 December 2022 1,825
At 31 December 2021 1,865
8. Stocks 2022 2021
£ £
Stocks 18,743 15,787
9. Debtors: amounts falling due within one year
2022 2021
£ £
Prepayments and accrued income 568 626

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THE ISOKON GALLERY TRUST

Notes to the Financial Statements - continued for the year ended 31 December 2022

10. Creditors: amounts falling due within one year

10. Creditors: amounts falling due within one year
2021 2021
£ £
Other creditors 1,162 119
119 11. Movement in funds
Net
movement At
At 1/1/22 in funds 31/12/22
£ £ £
Unrestricted funds
General fund 42,733 5,097 47,830
TOTAL FUNDS 42,733 5,097 47,830
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
Unrestricted funds £ £ £
General fund 42,545 (37,448) 5,097
TOTAL FUNDS 42,545 (37,448) 5,097
Comparatives for movement in funds
Net
movement At
At 1/1/21 in funds 31/12/21
£ £ £
Unrestricted funds
General fund 47,105 (4,372) 42,733
TOTAL FUNDS 47,105 (4,372) 42,733
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 20,275 (24,647) (4,372)
TOTAL FUNDS 20,275 (24,647) (4,372)

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