COMPANY REGISTRATION NUMBER: 10112036 CHARITY REGISTRATION NUMBER: 1167762 Hope Ministries Cwmbran Company Limited by Guarantee Unaudited Financial Statements 30 April 2024 WALTER HUNTER & CO LIMITED Chartered accountants 24 Bridge Street Newport South Wales NP20 4SF
Hope Ministries Cwmbran Company Limited by Guarantee Financial Statements Year ended 30 April 2024 Page Trustees, annual report (incorporating the director's report) Independent examinerfs report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements 10
Hope Ministries Cwmbran Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dlrector's Report) Year ended 30 April 2024 The trustees. who are also the directors fcr the purposes of company law. present their report and the unaudited financial statements of the charily for the year ended 30 April 2024. Reference and administrative details Reglstered charlty name Hope Mnistries Cwmbran Charlty reglstratlon number 116776£ Company reglstratlon number 101120 16 Prlnclpal office and reglstered 24 Bridge Street office Newport South '8]eS NP20 4SF The trusteas Mrs M A E Loder Rev P DJenkins Mr J C F'annah Mr I Siddall (Appointed 8 February 2024) {Resigned 6 February 2024) Independent examlner Mr Jonalhan Rhodes Bsc BFP FCA 24 Bridga Street Newport South Vwdles NP20 4SF Structure, governance and management The policy and operating decisions of the charity rest with the Directors who meet regularfy to monitor the activities of the charity. New directors are recruited and appointed by a majority of the existing directors. The director5 have established a management team which oversee finance, vision and strategy and the development of good processes and implementation of housing management. This includes ensuring that our supported housing projed meet5 necessary standards and provides a good standard of accommodation that is suitable for our residents.
Hope Ministries Cwmbran Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {contInu Year ended 30 Aprll 2024 Objectlves and activities The charity is a charitable company and is governed by its memorandum and articles of association. The purposes of the charity are to advarce health and relieve suffering in relation to offenders and ex-offenders, including but not limited to those affected by abuse of alcohol and other substances, by such charitable means as the directors in Iheir absolute discretion think fit. Purposes and aims The purpose and aim of our charity is to restore lives, restore families and restore communities. We achieve this by providing a structured supported housing program that offers both practical help and hope to individuals affected by substance or alcohol misuse. Our program also offers hope to families and in-turn, Communities, by offering education and awareness to relieve community impact, due to drugs or alcohol misuse. Ensuring our work dellvers Its aims We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have broughtto those groups of people we are set up to help. The review also helps us ensure our aims, objectives and activities remained focused on our stated purposes. We have referred lo the guidance contained in the Charity Commissioners general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities wdl contribute to the aims 8nd objectives they have set. Focus of our work Our main objectives for the period continued to be providing safe, quality provision of structured supported housing to enable people who want to recover from substancelalcohol misuse to discover the opportunity to walk into a new lrfe filled with hope. We focused on quality druglalcohol support and knowledge which limits the harm which comes with druglalcohol abuse, not only for tha individual but also their family, friends and the wider community. This included supporting the giowth of True Freedom curriculum development. We operated to an exceptional standard, going above and beyond to ensure every individual received a person-centered, quality seNice which met their agreed support needs. We employed and brought in expert counsellors to ensure all support was tailored. We worked with referral pathways nalijnwide lo share our work and ensure Ihal all applicants to our program were indeed suitable and a good fil for our work. We shared our work at various conferences during the period and soughl to strengthen links with police, social services, and third sector organisations locally We worked in partnership with other a Jencies to ensure our setvice-users had the best possible level of service both pre and post our servi. This included post-residency support in many cases. We provided a high-quality, program to every resident, including counselling, work therapy, curriculum, educational opportunities and employability support.
Hope Ministries Cwmbran Company Limited by Guarantee Tru8teo3' Annual Report (IncoTporating the Director's Report) (contlnued) Year ended 30 April 2024 Achlevements and perfomiance Achievements during the period Hope Centre has achieved much in the period with more than 32 men and 17 women coming through our doors for residency on our program. We held a graduation where families, local charities, the police and other statutory services were invited to attend to celebrate the achievements of those graduating. Importantly, we have continued to see inciedible growth in several graduates who are now working for the charity and helping lead us into the fjture seasons. We aim to develop graduates who share passion for our work as they are excellenty placed to understand the unique challenges our residents face. We have successfully developed ané implemented a training service to meet this need which we are now looking to expand. We were recognised by key contacts in the community who supported our work by attending our open-houses and also offering their skills and funding to help us develop. We are particularly thankful to our supporters for their generosity in helping us achieve our aims. Special thanks goes to The Woodlands Trust, Moondance Foundation, TNL Awards For All and Torfaen Council for their continued support of our work. We have worked hard to restructure our central services office to deal with central administralDn, grant funding, admissions and other policJ' based work. Investment into these areas has proved very valuable. We have begun to see the fruit of this with increased applications and more opportunities to partner with organisations around the naticfi. We continued to run "Family days wher6 wa upskilled families with how to support their loved ones who found themselves in addiction. We also have a number of prominent lay-people who are able to deliver sessions to our resident5 and widerfamilies. We continue to do everything possible to continue to reach people through our work wherer they are. We developed our online presence on social media, utilising and partnering with True Fr*dom to make recovery accessible to all. Waiting lists for our homes continue to grow and many 8pplicants are desperate for a place in one of our homes. We actively sign-post where possible to other provision, but unfortunately there is still huge lack of provision nationally. We are building links with partner church& to open more Hope Centers across the UK and we look forward to working with a local church li Bromsgrove in the future period. It is through quality partnerships that we can achieve the drearn of ending addiction. We are of course, like most charities, are linited by funding, meaning many people that we would like to help simply have to wait for a sustained ?eriod lo be offed a place. We owe much to our staff and volunteers who work tirelessly and with tru? compassion to help and aid as many people as possible in theirjourney of recovery. During the year, we continued to support 9 women at our Pontypool women's home. The need is great and we are looking to extend this provision, potentially by building on the adjoining land. We continued to offer family support to all of the families that took up the offer when their relatives were within our homes. Family support operates on a monthly basis and helps families understand the nature of druglalcohol misuse and how the) can be a support to their loved ones.
Hope Ministries Cwmbran Company Limited by Guarantee Trustees. Annual Report (Incorporating the DireGtor's Report) (¢ontinuedJ Year ended 30 Aprll 2024 We also saw growth in our volunteer base with more ministers and leaders offering to take Bible studies, recovery sessions and help support our residents with employability and training needs. We continued to partner with local businesses and trusts to support our residents with relevant work therapy opportunities. We have develop&d links with other community based groups who have a passion to aid employability and facilrtate opportunities for our residents. Special recognition and thanks goes to The Woodlands Trust, Victory Church Cwmbran, Compassion Church Bridgend, who have supported our work throughout the period. It is through these vital partners that we have been able to offer exceptional help that has resulted in many men. women and families finding hope and a future. We would also like to thank all our "Hope Givers who have enabled our work by giving on a monthly basis to help us see lives changed. Flnancial rovlow During the year income increased by £125,977, to £495,889, and expenditure decreased by £17,098, to £368,010. As a result there was a surplus for the year of £127,879 (2023.. deficit £15,196). Net assels at the end of the year were £182,622 (2023.. £54,743) and net current assets were £5,872. Having considered future plans and projections the Trustees are confident that the charity remains a going concern. Plans for future periods Future plans Our aim is to develop a home in the Midlands region {Bromsgrove) as identified in last years reF()rt. There is now a tangible plan and we exp8Ct this lo happen in 2025. We need to raise our financial support base to enable us to grow our work and offer more opportunities to our residents. We aim to develop stronger links with the recovery community in the areas that we work, as well as with local churches and charities who desire to see social change in the area of addiction. Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
Hope Ministries Cwmbran Company Limited by Guarantee Trustees. Annual Report {Incorporating the Director's Report) (Gontinuod) Year ended 30 April 2024 The trustees, annual report was approved on 28 January 2025 and signed on behalf of the board of trustees by.. RevP Trustee enkins
Hope Ministries Cwmbran Company Limited by Guarantee Independent ExamineV8 R?port lo the Trustees of Hope Ministrles Cwmbran Year ended 30 April 2024 I report to the trustees on my examination of the financial statements of Hope Ministries Cwmbran I'the charity,) for the year ended 30 April 2024. Responslbilltles and basls of report As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 audited under Part 16 of the 2006 Act and are eligible for independent examinalion, I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515)Ibl of the 2011 Act. Indopendont examin•r'$ 8tstement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I conflrm that l am quallfled to undertake the examlnation because l am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies. I have completed my examination. I confirni that no mattars have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the charity 8s required by section 386 of the 2006 Act; or the financial statements do not sccord with those records,, or the financial statements do not Bomply with the accounting requirements of section 396 of the 2006 Act other than any requirem8nt that the accounts give a 'true and faiff view which is not a matter considered as pal of an independent examination,. or the financial statements have iot been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable ir Ihe UK and Republic of Ireland {FRS 102).
Hope Ministries Cwmbran Company Limited by Guarantee Independent Examlnor's Report to the Trustees of Hope Mlnistries Cwmbran (continued) Year ended 30 April 2024 I have no concerns and have come acrcES 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. Mr Jonathan Rhodes Bsc BFP FCA Independent Examiner 24 Bridge Street Newport South Wales NP20 4SF 28 January 2025
Hope Ministries Cwmbran Company Limited by Guarantee Statement of Financial Actiyities (including income and expenditure account) Year ended 30 April 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities Other trading activities Investment income 34,973 328,158 1,201 48 131,509 166,482 328,158 1,201 48 52,532 317,339 41 Total Income 364,380 131,509 495,889 369,912 Expenditure Expenditure on charttable activities Total axpendlture 9,10 368,845 368,845 368,845 385,108 385,108 368,845 Net incomel(expendlture) and net movement in funds (4,465) 131,509 127,044 {15,196) Reconcillatlon of funds Total funds brought forward Total funds carried forward 54,743 50,278 54,743 69,939 54,743 131,509 181,787 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The noteg on pages 10 to 18 form part of these financial statsments.
Hope Ministries Cwmbran Company Limited by Guarantee ststement of Financial Position 30 April 2024 2024 2023 Fixed assets Tangible fixed assets 16 748,915 259,132 Current assets Cash at bank and in hand 15,410 38,809 Credltors: amounts falllng due wSthln one year Net current as8etsl{Ilabillties) Total assets less current Ilabllities 17 9,538 5,872 754,787 3,198 35,611 294,743 Credltors: amounts falllng due after more than one year Net assets 18 573,000 181,787 240,000 54,743 Funds of the charlty Restricted funds Unrestricted funds 131,509 50,278 181,787 54,743 54,743 Total charity fund8 20 For the year ending 30 April 2024 the charty 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 company to obtain an audit of its financial statements for the year in question in accordance with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 28 January 2025, and are signed on behalf of".he board by. RevP Trustee Jenkins The notss on pages 10 to 18 form part of these financial statements.
Hope Ministries Cwmbran Company Limited by Guarantee Notes to the Financial Statèments Year ended 30 April 2024 General Information The charity is a public benefrt entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 24 Bridge Slreet, .Yewport, South Wales, NP20 4SF. Statement of compllance These financial statements have been prepared in compliance wtth FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable tD charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accountlng policies Basls of preparation The financial statements have been prepared on the historical Gost basi5. The financial statements are prepared in sterling, which is the functional currency of the entity. Golng concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of 6stlmatlon uncertalnty 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 bad on experience and other factors, including expectations of future events that are believed to b> reasonable under the circumstances. Fund accountlng Unrestricted funds are available for use at the discretion of the truslees to further any of the charity's purposes. At the year end there are no restricted funds. Designated funds are unrestricted funds earmarked by the trustees for particular future project or committment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and lall into one of two sub-classes.. restricted income funds or endowment funds. 10
Hope Ministries Cwmbran Company Limited by Guarantee Notes to the Financial Statemènts {continu8dJ Year ended 30 Aprll 2024 Accounting policies (continued) Incomlng resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charity and the amouit can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods Is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in Ihe accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and retumed if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expendilure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial aclivities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activilies includes all costs incurred by a charity in undertaking activities that further its charitatle aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the Gharity nor part of Its expendlture on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are all(X8ted directly to that activity. Shared costs are apportioned beeen the activities they contribute lo on a reasonable, justifiable and consistent basis. Tanglble assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairrnent losses. 11
Hope Ministries Cwmbran Company Limited by Guarantee Notes to the Financial Staternènts (contlnu Year ended 30 April 2024 Accountlng pollcle8 (eontinueo) Depreclatlon Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic lif8 cl that asset as follows.. Freehold propety Fixtures and fittings Motor vehicles Improvements to property 2°/0 p.a. straight line 20°/o p.a. straight line 25 % p.a. straight line 250% p.a. straight line Impaimient of fjxed assets A review for indicators of impairmenl 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, th8 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 sMal$t identifiable group of assets that indudes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. Flnanclal Instruments A financial asset or a financial liability is recognised only when the entity 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 liabiliti3s are subsequently measured at Ihe cash or other consideration expected to be paid or rAceived and not discounted. Debt instruments are subs8quently measured at amortised cost. Defined contrlbutlon plans Contributions to defined contribution plans are recognised as an expense in the period in which the related seNice is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a redtIOn in future payments or a cash refund. Llmlted by guarant•0 Each member of the company has agieed that in the event of a winding up they will contribute an amount not exceeding £1 towards any shortfall. There are 3 members of the company(2023'. 3 members). 12
Hope Ministries Cwmbran Company Limited by Guarantee Notes to the Finanelal Statements (conUnue¢¥ Year ended 30 April 2024 Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Donatlons Donations Donations - Edlogan Villa Gift Aid 9,478 9,478 131,509 17,317 131,509 17,317 Grants Grants receivable Grants receivable Clarence Villa Garden 8,178 8,178 34,973 131,509 166,482 Unrestricted Funds Restricted Total Funds Funds 2023 Donatlons Donations Donations - Edlogan Villa Gift Aid 28,305 28,305 Grants Grants receivable Granls receivable Clarence Villa Garden 8,102 16,125 8,1D2 16,125 52,532 52,532 Charltable actlvltles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Housing Benefit Social Pay 296,656 31,502 296,656 31,502 292,857 24,482 317,339 292,857 24,482 328,158 328,158 317,339 Other tradlng actlvltles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Fundraising events 1,201 1,201 13
Hope Ministries Cwmbran Company Limited by Guarantee Notes to th6 Flnaneial Statements (conthued) Year ended 30 April 2024 Investment Income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receivable 48 48 41 41 Expendlture on charitable actfvitles by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Cwmbran Fund Pontypool Fund Bridgend Fund Central Fund National Lottery - Kitchen Clarence Villa Gardèn Support costs 136,169 85,437 53,992 62,368 136,169 85,437 53,992 62,368 2,618 28,261 368,845 2,618 28,261 368,845 Unrestricted Funds Restricted Total Funds Funds 2023 Cwmbran Fund Pontypool Fund Bridgend Fund Central Fund National Lottery - Kitchen Clarence Villa Garden Support costs 132,833 86,288 48,181 81,336 132,833 86,288 48,181 81,336 58 14,335 22,077 58 14,335 22,077 385,050 58 385,108 10. Expendltura on charltable activitieg by actlvlty type Activities undertaken directly Support costs Total funds 2024 Tot81 fund 2023 Cwmbran Fund Pontypool Fund Bridgend Fund Central Fund National Lottery - Kitchen Clarence Villa Garden Governance costs 136,169 85,437 53,992 62,368 155 13,034 109 13,233 136,324 98,471 54,101 75,601 132,952 99,092 48,290 90,381 58 14,335 2,618 2,618 1,730 1,730 340,584 28,261 368,845 385,108 14
Hope Ministries Cwmbran Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 30 April 2024 11. Analysis of support costs Charitable activities Total 2024 Totsl 2023 Finance costs Governance costs 14.187 14,074 28,261 14,187 14,074 28,261 13,746 8.330 22,076 12. Net incomellexpendlture) Net incomel{expenditure) is stated after chargingl(crediting)'. 2024 2023 Depreciation of tangible fixed assets 10,217 25,939 13. Independent examinatlon fees 2024 2023 Fees payable to the independent examiner for= Independent examination of the financial statements 1,730 1,730 14. Staff costs The total staff costs and employee beneffts for the reporting period are analysed as follows.. 2024 2023 Wages and salaries Social security costs Employer contributions to pension plans 124,796 5,421 2,426 132,643 121,055 5,336 2,613 129,004 The average head count of employees during the year was 712023.. 7). The average number of full-time equivalent employees during the year is analysed as follows- 2024 No. 2023 No. Number of staff - Management Number of staff - Support No employee received employee benefits of more than £60.000 during the year (2023.. Nil). 15. Trustee remuneratlon and expenses No remuneration or expenses or other benefits from employment with the charity or a related entity were recerved by the trustees. 15
Hope Ministries Cwmbran Company Limited by Guarantee Notes to the Financial Staternonts (eontinuoo) Year ended 30 April 2024 16. Tanglble fixed assets Improvemen tsto Propety Freehold Fixtures and propety fittings Motor vehicles Total Cost At 1 May 2023 Additions 2i5,595 5JO.000 7i5,595 73,856 3,600 19,892 362,943 500,000 At 30 Aprll 2024 Depreclation At 1 May 2023 Charge for the year At 30 April 2024 Carrying amount At 30 Aprll 2024 At 30 April 2023 73,856 3,600 19,892 862,943 15,936 5,312 70,247 1391) 69,856 2,760 340 14,868 4,956 103,811 10,217 21,248 3,100 19,824 114,028 744,347 4,000 500 68 748,915 249,659 3,609 840 5,024 259,132 17. Creditors: amounts falling due within one year 2024 2023 Trade creditors Accruals and deferred income Pension 9,165 2,477 721 373 9,538 3,198 18. Creditors: amounts falllng due after more than one year 2024 2023 Bank loans and overdrafts Other creditors {note 22) 240,000 333,000 240,000 573,000 240,000 19. Pensions and other post retlrement beneflts Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defirEd contribution plans was £2,426 (2023: £2,613). 16
Hope Ministries Cwmbran Company Limited by Guarantee Notes to the Financial Statéments (conrinuedj Year ended 30 April 2024 20. Analy51s of charitsble funds Unrestrlcted fund8 At 1 May 2023 At Income Expenditure 30 April 2024 General funds Designated Fund - Phillipines Projecl 51,743 3,000 364,380 (368,845) 47,278 3,000 54,743 364,380 (368,845) 50,278 At 1 May 2022 At Income Expenditure 30 April 2023 General funds Designated Fund - Phillipines Project 66,881 3,000 369,912 (385,050) 51,743 3,000 54,743 69,881 369,912 (385,050) Restricted funds At 1 May 2023 At Income Expenditure 30 Aprll 2024 National Lottery - Kitchen Purchase of Edlogan Villa 131,509 131,509 131,509 131,509 At 1 May 2022 At Income Expenditure 30 April 2023 National Lottery - Kitchen Purchase of Edlogan Villa 58 {58) 58 (58) 17
Hope Ministries Cwmbran Company Llmited by Guarantee Notes to the Financlal Ststements {continu8d) Year ended 30 April 2024 21. Analysls of net assets between fuTrds Unrestricted Funds Restricted Total Funds Funds 2024 T8ngible fixed assets Current assets Creditors greater than 1 year Net assets 248,915 5,872 (573,000) (318,213) 500,000 748,915 5,872 (573,000) 181,787 500,000 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors greater than 1 year Net assets 259,132 35,611 1240,000) 54,743 259,132 35,611 (240,000) 54,743 22. Related parties As at 30th April 2024 the charity ow•d Mr P Jenkins £200,000 (2023.. £200,000). This amount was lent by Mr Jenkins for the purchase of Clarence Villa, Pontypool. Interest is paid on the loan at £900 p.c.m. There are no fixed temis for repayment ofthe loan. As at 30th April 2024 the charity ow8d Woodland Trust £40,000 (2023.. £40,000). This amount was lent by Woodland Trust for the purchase of Clarence Villa, Pontypool. Interest is paid on the loan at £167 p.c.m. There are no fixed terms for repayment of the loan. As at 30th April 2024 the charity owed Julian Fielden and Melanie Fielden £333,000 (2023.. £nil). This amount is owed to Julian Fielden and Melanie Fielden for the purchase of Edlogan Villa, Cwmbran. £166,500 is repayable by 1st April 2026 and £166,500 is repayable by 1st April 2028. The is no interest payable on the loan 18