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← The Driver Youth Trust

2024-08-31-accounts

CHARITY NUMBER: 1167893 COMPANY NUMBER: 09848958

THE DRIVER YOUTH TRUST A COMPANY LIMITED BY GUARANTEE

TRUSTEES REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024

THE DRIVER YOUTH TRUST (LIMITED BY GUARANTEE)

CONTENTS OF THE FINANCIAL STATEMENTS

Page
Charity information 1
Trustees’ annual report 2-4
Independent examiners report 5
Statement of financial activities 6
Balance sheet 7
Statement of cash flows 8
Notes to the financial statements 9-16

THE DRIVER YOUTH TRUST (LIMITED BY GUARANTEE)

CHARITY INFORMATION

31ST AUGUST 2024

Registered charity number: 1167893
Registered company number: 09848958
Trustees: S P Driver
M J Driver
S E Blakeway
T G Paxman (Deceased 8th March 2025)
Principal address Rathfinny Estate
And Registered Office: Alfriston
Polegate
East Sussex BN26 5TU
Independent examiner V M R Anderson BA(Hons) FCA DChA
Clark Brownscombe Limited
Chartered Accountants
2 St Andrews Place
Lewes
East Sussex
BN7 1UP
Bankers: Coutts & Co
440 Strand
London
WC2R 0QS
Investment Managers: James Hambro
45 Pall Mall,
St James’s
London
SW1Y 5JG
Solicitors: Griffith Smith Farrington Webb
47 Old Steine
Brighton
East Sussex
BN1 1NW

Page: 1

THE DRIVER YOUTH TRUST (LIMITED BY GUARANTEE)

TRUSTEES ANNUAL REPORT

31ST AUGUST 2024

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006 present their annual report and financial statements of the charity for the year ended 31st August 2024. The trustees confirm that the annual report and financial statements of the company comply with current statutory requirements, the requirements of the company’s governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Structure, Governance and management

The Driver Youth Trust is a company limited by guarantee (company number: 09848958) and is registered as a charity (charity number: 1167893). The company was incorporated on 29th October 2015 and obtained charitable status on 28th June 2016. The company is governed by its Memorandum and Articles of Association dated 29th October 2015. The original charity was constituted under a trust deed dated 17 July 2007. The company is governed by its Memorandum and Articles of Association dated 29th October 2015. Having received the Charity Commission’s consent dated 24 February 2022 and 24 March 2022 as required under section 198 Charities Act 2011, a special resolution was duly passed by way of written resolution pursuant to Chapter 2 of Part 13 of the Companies Act 2006 adopting new articles of association as attached thereto, of the Company in substitution for, and to the exclusion of, the existing articles of association.

Our mission

DYT’s mission is to help young people who struggle to read and write.

We do this by:

Our vision

We want to be recognised for our distinctive impact in education as the leading organisation that enables teachers to better meet the needs of young people with literacy difficulties. To achieve this, DYT must be financially sustainable in order to secure our longevity and grow our reputation and influence to become the leading organisation for literacy difficulties.

Achievements and activities for the furtherance of the Trust’s aims

DYT’s vision is based on our experience of working with schools and knowledge that there is a group of learners in our schools who are consistently underperforming in literacy because of underlying difficulties that are not responsive to standard educational approaches. Overwhelmingly, these children are in mainstream schools.

There is consensus that teachers, equipped with the right knowledge and skills, are our greatest asset in overcoming literacy difficulties. Substantial evidence points to the quality of teaching as a critical determinant of outcomes for 'at risk' learners.

Page: 2

THE DRIVER YOUTH TRUST (LIMITED BY GUARANTEE)

TRUSTEES ANNUAL REPORT

31ST AUGUST 2024

Kingston University Partnership

Building on this, the Trustees agreed in May 2023 to enter into an exciting partnership with Kingston University’s Education Department. DYT agreed to provide the funding for the employment costs of a dedicated expert dyslexia tutor, Dyslexia Specialist Tutor (DST) employed by Kingston University on a twoyear fixed term contract.

The aims of the project are:

It has been a busy year focusing on designing the undergraduate module to be rolled out to BA, PGCE and Post Graduate students, across all subjects. Alongside this a CPD webinar series – STOP dyslexic learners underperforming at school, and a KUDYT YouTube channel sharing how to make studying at university more inclusive, have been developed. As this project works closely with partner schools, where trainee teachers are placed, Introduction to KUDYT material has also been designed and developed for them.

A critical part of our joint work is the development of a research study, led by KU and reported on to DYT The aim of this is to gather data to capture how the specific taught sessions affects knowledge and understanding of dyslexia for all trainee teachers. This data will then inform the specific taught sessions for all ITT programmes and to evidence impact on personal and professional development in relation to knowledge, understanding and application of effective interventions addressing dyslexia in professional practice.

Throughout the year a significant amount of external presentations and networking events have been attended, with the aim of informing the sector of our work and networking. There has been significant interest shown by other ITT providers and the intention is to build on this in the coming year. These include sessions on Dyslexia inclusive teaching

Public benefit

The Trustees confirm that they have referred to the guidance contained in the Charity Commissioners general guidance on public benefit when reviewing the charity’s aims and objectives and in setting the grant making policy.

The charity’s aims are intended to benefit the public generally and people in poverty are not excluded from the opportunity to benefit.

Page: 3

THE DRIVER YOUTH TRUST (LIMITED BY GUARANTEE)

TRUSTEES ANNUAL REPORT

31ST AUGUST 2024

Investment Policy

As in the previous year the trustees have delegated authority to James Hambro to manage investments for the Charity in accordance with the investment policy laid down by the trustees. The performance of the portfolio is monitored on a regular basis, including quarterly reports to the trustees. The trustees have continued their policy of holding funds in a mix of fixed interest security and equities.

Financial Review

Income for the year amounted to £32,565 (2023: £33,865) and comprised income arising from the charity's investments. Charitable expenditure in the year totalled £105,831 (2022: £73,735). Gains on investments were £259,480 (2023: losses £9,523). Total funds carried forward were £2,283,262 (2023: £2,097,048)

Given the availability of the expendable endowment fund, the Trustees do not consider that the charity needs to maintain any significant free reserves although they recognise that such reserves will arise from time to time .

Trustees responsibilities

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing these financial statements, the directors are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by the trustees and signed on their behalf.

Sarah Driver – Trustee

Date: 20 May 2025

Page: 4

INDEPENDENT EXAMINERS REPORT

TO THE TRUSTEES OF

THE DRIVER YOUTH TRUST (LIMITED BY GUARANTEE)

I report to the charity trustees on my examination of the accounts of the company for the year ended 31st August 2024 which are set out on pages 6 to 16.

Responsibilities and basis of report

As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the ‘2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s report

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

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.

V M R Anderson BA (Hons) FCA DChA Chartered Accountant Clark Brownscombe 2 St. Andrews Place Lewes East Sussex BN7 1UP Date: 20 May 2025

Page: 5

THE DRIVER YOUTH TRUST (LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME STATEMENT) FOR THE YEAR ENDED 31ST AUGUST 2024

Note
Unrestricted
Funds
Endowment
Funds
INCOME FROM
£
£
Investments
4
32,565
-
Total
32,565
-
EXPENDITURE ON
Costs of raising funds
6
-
20,776
Charitable activities
5
85,055
-
Total
85,055
20,776
Net (expenditure)
(52,490)
(20,776)
Net gains/(losses) on investments
-
259,480
NET (EXPENDITURE)/INCOME
(52,490)
238,704

TRANSFERS
Transfers between funds
-
-
NET MOVEMENT IN FUNDS
(52,490)
238,704
RECONCILIATION OF FUNDS
Total funds brought forward
109,316
1,987,732
Total funds carried forward
16
56,826
2,226,436		 Total
2024
£
32,565
32,565
20,776
85,055
105,831
(73,266)
259,480

186,214
-
186,214
2,097,048
2,283,262		 Total
2023
£
33,865
33,865
19,592
54,143
73,735
(39,870)
(9,523)
(49,393)
-
(49,393)
2,146,441
2,097,048

The detailed 2023 comparative statement of financial activities is reported in note 3.

The notes form part of these financial statements

Page: 6

THE DRIVER YOUTH TRUST (LIMITED BY GUARANTEE) (REGISTERED NUMBER: 09848958)

BALANCE SHEET AS AT 31ST AUGUST 2024

Note
FIXED ASSETS
Intangible assets
11
Investments – managed funds
12
CURRENT ASSETS
Debtors
13
Cash in hand and in bank
CURRENT LIABILITIES
Creditors: amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
FUNDS
Expendable endowment funds
Unrestricted funds
16
TOTAL FUNDS		 2024
£
£
2,702
2,216,101
2,218,803
-
72,956
72,956
8,497
64,459
2,283,262
2,226,436
56,826
2,283,262		 2023
£
18,911
1,893,619
1,912,530
4,456
193,213
197,669
13,151
184,518
2,097,048
1,987,732
109,316
2,097,048

The Charity is entitled to exemption from audit conferred by Section 477 of the Companies Act 2006 for the year ended 31st August 2024.

The members have not required the Charity to obtain an audit of its financial statements in accordance with Section 476 of the Companies Act 2006.

The Trustees confirm that they are responsible for:

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by the trustees on 20 May 2025 and signed on their behalf by:

Sarah Driver – Trustee

The notes form part of these financial statements

Page: 7

THE DRIVER YOUTH TRUST (REGISTERED NUMBER: 09848958) (LIMITED BY GUARANTEE)

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31ST AUGUST 2024

Note
Net cash generated from operating activities18

Cash flows from investing activities
Dividends and interest

Purchase of fixed assets investments

Proceeds from disposal of fixed asset investments

Cash (used) in investing activities

Net (decrease) in cash and cash equivalents

Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Cash and cash equivalents consists of:
Cash at bank and in hand		 2024
2023
£
£
(89,820)
(53,886)
32,565
33,865
(572,684)
(344,168)
509,682
308,958
(30,437)
(1,345)
(120,257)
(55,231)
193,213
248,444
72,956
193,213
72,956
193,213

The notes form part of these financial statements

Page: 8

THE DRIVER YOUTH TRUST (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024

1. STATUTORY INFORMATION

The Driver Youth Trust Limited is a private Charitable Company, limited by guarantee and registered in England and Wales. The company’s registered number and registered office address can be found on the charity information page.

2. ACCOUNTING POLICIES

a) Basis of accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (FRS 102, effective 1 January 2015), hereafter referred to as the Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Driver Youth Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. However, there are no judgements or assumptions that have a significant risk of causing material adjustment.

b) Preparation of the financial statements on a going concern basis

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

c) Income

All income is recognised once the charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of incoming resource can be measured with sufficient reliability.

Income arising from assets held within the expendable endowment fund is recognised as unrestricted income when it becomes receivable.

Page: 9

THE DRIVER YOUTH TRUST (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024

d) Expenditure

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the activity.

Grants paid included in charitable activities are recognised when they become unconditional or when the satisfaction of any condition moves outside the charity’s control. In practice grants are normally paid at the same time as a constructive obligation arises and are accounted for accordingly.

Charitable activities also includes expenditure relating to the governance of the charity and include audit fees and the fees relating to the administration of the charity and the maintenance of its financial records.

Costs of raising funds comprise the Investment Managers fees.

e) Investments

The charity’s investments consist of fixed interest securities, equity investments and deposits held by James Hambro on behalf of the charity.

Investments are included at market value at the balance sheet date. Any gain or loss on revaluation is disclosed in the SOFA.

Gains/(losses) on investment assets include those arising on disposal of investments during the accounting period in addition to unrealised gains/(losses) arising on period end valuation.

Short term creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the SOFA.

Cash at bank and cash in hand includes cash held by the bank and also with the investment manager.

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at either market value or their settlement value.

Unrestricted general funds are incoming resources receivable or generated for use in furtherance of the general objects of the charity without restriction.

j) Endowment funds

Expendable endowment funds are those which are required to be invested to produce income but which may be transferred to unrestricted funds at the discretion of the trustees in order that they may be expended in furtherance of the charity’s objectives.

Page: 10

THE DRIVER YOUTH TRUST (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024

k) Intangible fixed assets and amortisation

All assets costing more than £300 are capitalised and valued at cost and held at cost less depreciation.

Depreciation is provided so as to write off the cost over their expected useful economic life as follows:-

Learning management system

Over three years

3 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
Funds
INCOME FROM
£
Investments
33,865
Total
33,865
EXPENDITURE ON
Costs of raising funds
-
Charitable activities
54,143
Total
54,143
Net (expenditure)
(20,278)

Net losses on investments
-

NET (EXPENDITURE)
(20,278)

TRANSFERS
Gross transfers between funds
(459)

NET MOVEMENT IN FUNDS
(20,737)

RECONCILIATION OF FUNDS
Total funds brought forward
130,053
Total funds carried forward
109,316		 Endowment
Funds
£
-
-
19,592
-
19,592
(19,592)

(9,523)

(29,115)

459
(28,656)

2,016,388
1,987,732		 Total
2023
£
33,865
33,865
19,592
54,143
73,735
(39,870)
(9,523)
(49,393)
-
(49,393)
2,146,441
2,097,048

Page: 11

THE DRIVER YOUTH TRUST (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024

4 INVESTMENT INCOME



Dividends
5
CHARITABLE ACTIVITIES
Unrestricted
Funds
Endowment
Funds
£
£
Learner management system
4,456
-
Kingston University
52,411
-
Governance costs
1,800
-
Support costs
26,388
-
85,055
-
6 COSTS OF RAISING FUNDS
Unrestricted
Funds
Endowment
Funds
£
£
Investment Management fees
-
20,776
7 SUPPORT COSTS
Unrestricted
Funds
Endowment
Funds
£
£
Communications and IT
584
-
Consultancy
5,560
-
Office expenses
940
-
Training and recruitment
-
-
Bank charges
2
-
Website
3,093
Depreciation
16,209
-
26,388
-		 Total
2024
Total
2023
£
£
32,565
33,865
Total
2024
Total
2023
£
£
4,456
22,565
52,411
-
1,800
3,900
26,388
27,678
85,055
54,143
Total
2024
Total
2023
£
£
20,776
19,592
Total
2024
Total
2023
£
£
584
1,562
5,560
6,993
940
1,781
-
95
2
6
3,093
1,032
16,209
16,209
26.388
27,678

Page: 12

THE DRIVER YOUTH TRUST (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024

8 GOVERNANCE COSTS
Total Total
2024 2023
£ £
Independent examiner’s fees 1,800 3,900
9 OPERATING DEFICIT

The operating deficit is stated after charging: Total Total
2024 2023
£ £
Depreciation 16,209 16,209

10 TAXATION

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charity for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied exclusively to charitable purposes.

11 INTANGIBLE FIXED ASSETS

INTANGIBLE FIXED ASSETS
Learning
management
system
£
Cost
As at 1st September 2023 and 31st August 2024 48,627
Depreciation
As at 1st September 2023 29,716
Charge for the year 16,209
As at 31st August 2024 45,925
Net book value
As at 31st August 2024 2,702
As at 31st August 2023 18,911

Page: 13

THE DRIVER YOUTH TRUST (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024

12 FIXED ASSET INVESTMENTS – MANAGED FUNDS


Balance brought forward
Additions at cost
Disposals at carrying value

Gain/(loss) on revaluation

Market value at 31st August 2024
Historical costs
Investments at market value comprised:
Equities
Fixed interest securities
Alternative investments
 2024

£
1,893,619
572,684
(515,551)

265,349

2,216,101
1,657,268
1,575,484
323,144
317,473
2,216,101		 2023
£
1,867,932
344,168
(308,958)
(9,523)
1,893,619
1,568,544
1,312,412
293,276
287,931
1,893,619

All investments are carried at their market value. Investments in equities, fixed interest securities and alternative investments are all traded in quoted public markets, primarily the London Stock Exchange.

Unrestricted
Funds
Endowment
Funds
£
£
Prepayments
-
-		 Total
2024
Total
2023
£
£
-
4,456

14 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Unrestricted
Funds
Endowment
Funds
£
£

Trade creditors
6,697
-
Accruals
1,800
-
8,497
-		 Total
2024
£

6,697
1,800
8,497		 Total
2023
£
9,251
3,900
13,151

Page: 14

THE DRIVER YOUTH TRUST (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024

15
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Funds
Endowment
Funds
£
£
Fixed assets
2,702
2,216,101
Current assets
62,621
10,335
Current liabilities
(8,497)
-

56,826
2,226,436
ANALYSIS OF NET ASSETS BETWEEN FUNDS (PRIOR YEAR)
Unrestricted
Funds
Endowment
Funds
£
£

Fixed assets
18,911
1,893,619
Current assets
103,556
94,113
Current liabilities
(13,151)
-

109,316
1,987,732
16
ANALYSIS OF NET MOVEMENTS IN FUNDS
Unrestricted
Funds
Endowment
Funds
£
£
Total funds brought forward
109,316
1,987,732
Income
32,565
-
Expenditure
(85,055)
(20,776)
Gains on investments
-
259,480
Transfers between funds
-
-_
Total funds carried forward
56,826
2,226,436
ANALYSIS OF NET MOVEMENTS IN FUNDS (PRIOR YEAR)
Unrestricted
Funds
Endowment
Funds
£
£
Total funds brought forward
130,053
2,016,388
Income
33,865
-
Expenditure
(54,143)
(19,592)
Gains on investments
-
(9,523)
Transfers between funds
(459)
459
Total funds carried forward
109,316
1,987,732		 Total
2024
£
2,218,803
72,956
(8,497)
2,283,262
Total
2023
£
1,912,530
197,669
(13,151)
2,097,048
Total
2024
£
2,097,048
32,565
(105,831)
259,480

-
2,283,262
Total
2023
£
2,146,441
33,865
(73,735)
(9,523)
-
2,097,048		 Total
2023
£
1,912,530
197,669
(13,151)
2,097,048
Total
2022
£
1,903,052
257,641
(14,252)
2,146,441
Total
2023
£
2,146,441
33,865
(73,735)
(9,523)
-
2,097,048
Total
2022
£
2,933,869
50,097
(588,911)
(248,614)
-
2,146,441

Page: 15

THE DRIVER YOUTH TRUST (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024

17 LEGAL STATUS OF THE CHARITY

The Charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding-up is limited to £1. The Charity is registered as a company in England and Wales and the registered number and registered office can be found on the charity information page.

18 NOTES TO THE CASH FLOW STATEMENT

Reconciliation of net surplus/(deficit) to net cash (outflow) from operating activities

Reconciliation of net surplus/(deficit) to net cash
(outflow) from operating activities
2024 2023
£ £
Net surplus/(deficit) 186,214
 (49,393)
Depreciation charges 16,209
 16,209
(Gains)/losses on investments (259,480)
 9,523
Interest and dividends from investments (32,565)
 (33,865)
Decrease/(increase) in debtors 4,456
 4,741
(Decrease) in creditors (4,654)
 (1,101)
Net (outflow) from operating activities (89,820)
 (53,886)
19 CASH AND CASH EQUIVALENTS
2024 2023
£ £
Cash and cash equivalents 72,956 193,213
2023 2022
£ £
Cash and cash equivalents 193,213 248,444
20 ANALYSIS OF CHANGES IN NET DEBT
At 1st Cashflow At 31st
September August
2023 2024
£ £ £
Net cash
Cash at bank and in hand 193,213
(120,257)		 72,956

21 RELATED PARTY TRANSACTIONS

There are no related party transactions to disclose (2023: None).

Page: 16