2023-12-31-accounts - Free UK Genealogy

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CHARITY REGISTRATION NUMBER: 1167484

FREE UK GENEALOGY CIO Independently Examined Financial Statements 31 December 2023

ALEXANDER BURSK LIMITED

Accountants Parkgates Bury New Road Prestwich Manchester Lancashire M25 0JW

FREE UK GENEALOGY CIO

Financial Statements

Year ended 31 December 2023

	Page
Trustees' annual report	1
Independent examiner's report to the trustees	6
Statement of financial activities	7
Statement of financial position	8
Notes to the financial statements	9
The following pages do not form part of the financial statements
Detailed statement of financial activities	20
Notes to the detailed statement of financial activities	21

FREE UK GENEALOGY CIO

Trustees' Annual Report

Year ended 31 December 2023

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2023.

Reference and administrative details

Registered charity name	FREE UK GENEALOGY CIO
Charity registration number	1167484
Principal office	Parkgates, Bury New Road
	Prestwich
	Manchester
	M25 0JW
Correspondence address	25 Willow Avenue
	Astley
	Manchester
	M29 7AE
The trustees
	Mr R B Light
	Mr B R T Laurie	(Resigned 11 April 2023)
	Mr D Mayall
	Mr G Hart
	Mr G Abraini
	Mr A Turvey (Chair)
	Dr A Eveleigh
	Mrs K Streatfield	(Resigned 25 November 2023)
Independent examiner	Barry Fine FCA
	Parkgates
	Bury New Road
	Prestwich
	Manchester
	Lancashire
	M25 0JW

Richard Light retired at the end of his term of appointment on 23 March 2024. After the year end following a successful trustee recruitment exercise, we appointed three new trustees to the board: Nuala Clamp, Ian Clark and Alan Tyerman.

Structure, governance and management

Type of governing document: Constitution How the charity is constituted: Charitable Incorporated Organisation Trustee selection methods: Appointed and trained by Trustees

FREE UK GENEALOGY CIO

Trustees' Annual Report (continued)

Year ended 31 December 2023

Objectives and activities

Our mission is for a more open, more sustainable genealogy Our charitable objects are:

(a) To advance for the public benefit the making of family and wider history records available under open data formats

(b) To promote education of the general public by the development of open source tools to support community transcription of historical documents

(c) Subject to the consent of the relevant authority, the provision of databases of information and associated digitised images of records of genealogical or historical significance (including, but not restricted to, the records or indexes to records of Birth, Marriage and Death, Parish Registers, Census Records, Electoral Registers, Directories and Wills) .

Free UK Genealogy CIO runs projects under the names

FreeBMD, FreeCEN and FreeREG.

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing their aims and objectives and in planning their future activities. The charity is a public benefit entity.

FREE UK GENEALOGY CIO

Trustees' Annual Report (continued)

Year ended 31 December 2023

Achievements and performance

2 023 Achievements

Increased advertising income by £21k (24%) across the group.
Increased external donation income by 21%.
Took ownership of FreeComETT
Became Real Living Wage Employer
Held a very successful Strategy Weekend
Completed the move to CSVProc for automated checking and error reporting in FreeCEN
Recruited a Technical Project Manager volunteer for FreeBMD2
Surpassed our Big Give target

2023 figures

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----- Start of picture text -----
Project Total active Net volunteer Total records at Records added
volunteers at Year change in year year end in year
end [1]
FreeBMD 496 -54 391,708,902 6,644,274
FreeCEN 162 NA [2] 48,436,655 2,183,062
FreeREG 336 -45 59,884,629 2,991,442
TOTAL 994 -99 [2] 500,030,186 11,818,778
----- End of picture text -----

1 We have revised our standard measure of active volunteers which now uses transcribers who have uploaded at least 100 records to FreeBMD, or at least one file of transcriptions in FreeREG/FreeCEN in the year.

2 Due to the change in measure, comparative figures are not available for FreeCEN.

A year of consolidation

Following significant changes in people in 2022, this year has been a year of consolidation. Whilst our financial position has strengthened, our number of transcribers has continued to fall, as the projects mature. We continue to add new transcriptions to the projects, although at a slower rate than previous years.

We held a successful Strategy Weekend in Birmingham, where we agreed a new approach to put our mission at the centre of how we organise and operate. Our plans and targets for 2023/24 will look to revitalise our projects and focus on growing the value that our users benefit from our high quality transcriptions.

FREE UK GENEALOGY CIO

Trustees' Annual Report (continued)

Year ended 31 December 2023

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Growth
Quality Value
----- End of picture text -----

Quality is the basis for our tag line “human transcription”. Good Quality for us means:

Our transcriptions accurately represent what is written in the transcribed record (“Type What You See”)
We seek to have effective processes to measure and manage the accuracy of transcriptions
We seek to understand how the quality of our transcriptions compare to others
We seek to make transcription as easy and efficient as possible for our volunteers

Value for our users is fundamental to the public benefit in our charitable objectives. Good Value for us means:

We are committed to Open Data so our transcriptions are more accessible, more usable, and free to use, forever
If there is alternative information that is different - e.g. if it’s thought that the census taker misspelt the name - we seek to include that information as well
We seek to meet Accessibility Standards for our websites
We seek to understand what makes our records uniquely useful to our users
We focus on transcribing records that are the most useful to our users
We work to improve the way users access our data so they can be most useful

Growth in our record sets is a key way to maximise the benefit we provide. Growth for us means:

Increasing the number of people using our data
Increasing the coverage of our transcriptions
We seek to increase the availability of source records
We seek to grow our community of volunteers
We are open to expand the scope of transcriptions, where there is value
We will never compromise on our standards - “Quality over Speed”
Growth must always be sustainable - financially and operationally

FREE UK GENEALOGY CIO

Trustees' Annual Report (continued)

Year ended 31 December 2023

Financial review

At 31 December 2023, the charity held funds of £103,298, of which £94,106 were unrestricted.

Trustees' responsibilities statement

The trustees 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).

The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.

In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, Charities and Trustees Investments (Scotland) Act 2005, the Charity Accounts (Scotland) Regulations 2006 (as amended), and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' annual report was approved on 29 October 2024 and signed on behalf of the board of trustees by:

Mr A Turvey Trustee

FREE UK GENEALOGY CIO

Independent Examiner's Report to the Trustees of FREE UK GENEALOGY CIO

Year ended 31 December 2023

I report to the trustees on my examination of the financial statements of FREE UK GENEALOGY CIO ('the charity') for the year ended 31 December 2023.

Responsibilities and basis of report

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

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 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:

accounting records were not kept in respect of the charity as required by section 130 of the 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 (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.

Barry Fine FCA Independent Examiner

Parkgates Bury New Road Prestwich Manchester Lancashire M25 0JW

29 October 2024

FREE UK GENEALOGY CIO

Statement of Financial Activities

Year ended 31 December 2023

			2023		2022
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	4	119,780	9,834	129,614	91,927
Charitable activities	5	25,982	–	25,982	61,938
Investment income	6	1,389	–	1,389	335
		`─────────`	`───────`	`─────────`	`─────────`
Total income		147,151	9,834	156,985	154,200
		`═════════`	`═══════`	`═════════`	`═════════`
Expenditure
Expenditure on charitable activities	7,8	113,598	10,919	124,517	110,916
		`─────────`	`────────`	`─────────`	`─────────`
Total expenditure		113,598	10,919	124,517	110,916
		`═════════`	`════════`	`═════════`	`═════════`
		`─────────`	`────────`	`─────────`	`─────────`
Net income and net movement in	funds	33,553	(1,085)	32,468	43,284
		`═════════`	`════════`	`═════════`	`═════════`
Reconciliation of funds
Total funds brought forward		60,553	10,277	70,830	27,546
		`─────────`	`────────`	`─────────`	`─────────`
Total funds carried forward		94,106	9,192	103,298	70,830
		`═════════`	`════════`	`═════════`	`═════════`

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 9 to 18 form part of these financial statements.

FREE UK GENEALOGY CIO

Statement of Financial Position

31 December 2023

		2023	2022
	Note	£	£
Fixed assets
Investments	13	10	10
Current assets
Debtors	14	121,475	24,660
Cash at bank and in hand		793	48,670
		`─────────`	`────────`
		122,268	73,330
Creditors: amounts falling due within one year	15	18,980	2,510
		`─────────`	`────────`
Net current assets		103,298	70,820
		`─────────`	`────────`
Total assets less current liabilities		103,298	70,830
		`─────────`	`────────`
Net assets		103,298	70,830
		`═════════`	`════════`
Funds of the charity
Restricted funds		9,192	10,277
Unrestricted funds		94,106	60,553
		`─────────`	`────────`
Total charity funds	17	103,298 `═════════`	70,830 `════════`

These financial statements were approved by the board of trustees and authorised for issue on 29 October 2024, and are signed on behalf of the board by:

Mr A Turvey Trustee

The notes on pages 9 to 18 form part of these financial statements.

FREE UK GENEALOGY CIO

Notes to the Financial Statements

Year ended 31 December 2023

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Parkgates, Bury New Road, Prestwich, Manchester M25 0JW.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Consolidation

The charity is not required to prepare consolidated accounts in accordance with the Charities Act 2011.

Judgements and key sources of estimation 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.

Income tax

The charity is exempt from tax on its charitable activities.

FREE UK GENEALOGY CIO

Notes to the Financial Statements (continued)

Year ended 31 December 2023

3. Accounting policies (continued)

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Incoming resources

All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The contribution made by volunteers is not accounted for as there is no practicable way of measuring this.

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

FREE UK GENEALOGY CIO

Notes to the Financial Statements (continued)

Year ended 31 December 2023

3. Accounting policies (continued)

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

FREE UK GENEALOGY CIO

Notes to the Financial Statements (continued)

Year ended 31 December 2023

3. Accounting policies (continued)

Financial instruments (continued)

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

4. Donations and legacies

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Donations
Donations from the general public	23,376	9,834	33,210
Donations from the trading company	96,404	–	96,404
	`────────`	`───────`	`──────`
	119,780	9,834	129,614
	`════════`	`═══════`	`════════`
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Donations
Donations from the general public	17,127	10,277	27,404
Donations from the trading company	64,523	–	64,523
	`────────`	`────────`	`────────`
	81,650	10,277	91,927
	`════════`	`════════`	`════════`

5. Charitable activities

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2023	Funds	2022
	£	£	£	£
Recharged expenses	17,921	17,921	1,973	1,973
Services	3,000	3,000	25,079	25,079
Funds generated through the sale of
advertising	61	61	6,840	6,840
Other income	5,000	5,000	28,046	28,046
	`─────────`	`─────────`	`────────`	`────────`
	25,982	25,982	61,938	61,938
	`═════════`	`═════════`	`════════`	`════════`

FREE UK GENEALOGY CIO

Notes to the Financial Statements (continued)

Year ended 31 December 2023

6. Investment income

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2023	Funds	2022
	£	£	£	£
Interest receivable	1,389	1,389	335	335
	`═══════`	`═══════`	`════`	`════`

7. Expenditure on charitable activities by fund type

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Charitable activities	103,898	10,919	114,817
Support costs	9,700	–	9,700
	`─────────`	`────────`	`─────────`
	124,518	10,919	124,517
	`═════════`	`════════`	`═════════`
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Charitable activities	107,337	–	107,337
Support costs	3,579	–	3,579
	`─────────`	`────`	`─────────`
	110,916	–	110,916
	`═════════`	`════`	`═════════`

8. Expenditure on charitable activities by activity type

	Activities
	undertaken		Total funds	Total fund
	directly Support costs		2023	2022
	£	£	£	£
Charitable activities	114,817	307	115,124	108,417
Governance costs	–	9,393	9,393	2,499
	`─────────`	`───────`	`─────────`	`─────────`
	114,817	9,700	124,517	110,916
	`═════════`	`═══════`	`═════════`	`═════════`

FREE UK GENEALOGY CIO

Notes to the Financial Statements (continued)

Year ended 31 December 2023

9. Analysis of support costs

		Accountancy
	Charges and	and
	exchange	independent
	rate	examination
	differences	fees	Other costs	Total 2023	Total 2022
	£	£	£	£	£
Finance costs	307	–	–	307	1,081
Governance costs	–	5,750	3,643	9,393	2,498
	`────`	`────`	`────`	`───────`	`───────`
	307	5,750	3,643	9,700	3,579
	`════`	`════`	`════`	`═══════`	`═══════`

FREE UK GENEALOGY CIO

Notes to the Financial Statements (continued)

Year ended 31 December 2023

10. Independent examination fees

	2023	2022
	£	£
Fees payable to the independent examiner for:
Independent examination of the financial statements	5,750 `═══════`	1,000 `═══════`

11. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as	The total staff costs and employee benefits for the reporting period are analysed as	follows:
	2023	2022
	£	£
Wages and salaries	83,205	81,305
Social security costs	7,700	6,644
Employer contributions to pension plans	1,845	1,717
	`────────`	`────────`
	92,750	89,666
	`════════`	`════════`

The average head count of employees during the year was 4 (2022: 6). The average number of full-time equivalent employees during the year is analysed as follows:

	2023	2022
	No.	No.
Number of staff	2	2
	`════`	`════`

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

12. Trustee remuneration and expenses

The trustees received no remuneration or other benefits for either the year ended 31 December 2023 or the year ended 31 December 2022.

Expenses of £107 were reimbursed to one trustee during the year ended 31 December 2023. No expenses were reimbursed to trustees during the year ended 31 December 2022.

FREE UK GENEALOGY CIO

Notes to the Financial Statements (continued)

Year ended 31 December 2023

13. Investments

	Shares in
	group
	undertakings
	£
Cost or valuation
At 1 January 2023 and 31 December 2023	10
	`════`
Impairment
At 1 January 2023 and 31 December 2023	–
	`════`
Carrying amount
At 31 December 2023	10
	`════`
At 31 December 2022	10
	`════`

All investments shown above are held at valuation.

14. Debtors

	2023	2022
	£	£
Trade debtors	16,234	7,604
Amounts owed by group undertakings	103,925	8,355
Prepayments and accrued income	1,076	858
Other debtors	240	7,843
	`────────`	`────────`
	121,475	24,660
	`════════`	`════════`
Creditors: amounts falling due within one year
	2023	2022
	£	£
Bank loans and overdrafts	12,372	949
Trade creditors	487	–
Amounts owed to group undertakings	12	10
Accruals and deferred income	5,750	1,200
Pension creditor	359	351
	`───────`	`───────`
	18,980	2,510
	`═══════`	`═══════`

15. Creditors: amounts falling due within one year

16. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,845 (2022: £1,717).

FREE UK GENEALOGY CIO

Notes to the Financial Statements (continued)

Year ended 31 December 2023

17. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
		At			At
	1 January	20		31	December
		23	Income	Expenditure	2023
	£		£	£	£
General funds	60,553		147,151	(113,598)	94,106
	`════════`		`═════════`	`═════════`	`════════`
		At			At
	1 January	20		31	December
		22	Income	Expenditure	2022
	£		£	£	£
General funds	27,546		143,923	(110,916)	60,553
	`════════`		`═════════`	`═════════`	`════════`
Restricted funds
		At			At
	1 January	20		31	December
		23	Income	Expenditure	2023
	£		£	£	£
Restricted Fund	10,277		9,834	(10,919)	9,192
	`════════`		`═══════`	`════════`	`═══════`
		At			At
	1 January	20		31	December
		22	Income	Expenditure	2022
	£		£	£	£
Restricted Fund		–	10,277	–	10,277
	`════`		`════════`	`════`	`════════`

The restricted fund relates to money received via a campaign run in partnership with The Big Give Trust, and is to be spent on website improvement and development.

18. Analysis of net assets between funds

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Investments	10	–	10
Current assets	113,076	9,192	122,268
Creditors less than 1 year	(18,980)	–	(18,980)
	`─────────`	`───────`	`─────────`
Net assets	94,106	9,192	103,298
	`═════════`	`═══════`	`═════════`
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Investments	10	–	10
Current assets	63,053	10,277	73,330
Creditors less than 1 year	(2,510)	–	(2,510)
	`────────`	`────────`	`────────`
Net assets	60,553	10,277	70,830
	`════════`	`════════`	`════════`

FREE UK GENEALOGY CIO

Notes to the Financial Statements (continued)

Year ended 31 December 2023

19. Related parties

Donations of £1,588 from the trustees were received during the year, of which £750 was restricted. Donations of £96,404 (2022: £64,523) were receivable during the year from Free UK Genealogy Trading Limited, the charity's wholly owned subsidiary company, and amounts of £17,921 (2022: £1,943) were recharged to the trading company. £517 was paid to the wife of one trustee in respect of consultancy services, on normal business terms. £12 (2022: £10) was due to the trading company at the balance sheet date, and £103,925 (2022: £8,355) was due from the trading company at the balance sheet date.

The charity owns 100% of the company's issued share capital, all of which are ordinary shares. The company's registered office address is Parkgates, Bury New Road, Prestwich, Manchester M25 0JW. For the year ended 31 December 2023, the company's income was £114,828, and it made neither a profit nor a loss. Its total capital and reserves at 31 December 2023 were £10.