Registered number: 10085558 Charity number: 1168484 HGO TRUST LTD (A Company Limited by Guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
HGO TRUST LTD (A Company Limited by Guarantee) CONTENTS Page Reference and Administrative Details of the Charity, its Trustees and Advisers Trustees. Report Independent Examiner's Report ststement of Financial Activities Balance Sheet Notes to the Financial Statements 10-19
HGO TRUST LTD (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024 Trustees P Cabredo Hofftier D Conway, Chair K Dallas W English C Kirkby M Musgrave (Resigned 1 October 2023) R Sainsbury (Resigned 1 October 2023) P Sheffield H Williams S Barker (Appointed 1 October 2023) M Harper (Appointed 1 October 2023) C McLaren (Appointed 1 October 2023) Company registered number 10085558 Charity registered number 1168484 Registered office 107 Old Park Avenue Enfield Middlesex EN2 6PP Company secretary William English Independent Examiner lan Saunderson FCA BKL Audit LLP 35 Ballards Lane London N3 1XW Page 1
HGO TRUST LTD (A Company Limited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2024 The Trustees present their annual report together with the financial statements of the Charity for the Period from 1 July 2023 to 30 June 2024. The Annual Report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice ISORPI applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) (effective 1 January 2019). Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objectives and activities a. Policies and objectives The objectives of the charity as per its goveming document are" To advance the education of the public in the art and science of music and operatic music in particular by encouraging and promoting the study knowledge and understanding and appreciation of Operatic Art and by promoting andlor organising performances, concerts, lectures and readings of opera operetta and musical works generally to the highest possible standard in Great Britain and elsewhere. These objects have been pursued mainly by the performance each year of operas, in spring and autumn. b. Strategies for achieving objectives The Company has now been operats.ng Sin 2016. having taken over from the previous trust which had been in place for thirteen years. The story of Hampstead Garden Opera is much older, extending back over thirty years to when it began life as an evening class for amateur singers who fancied a chance to sing in opera. In these years it has evolved into a high quality organisation, described by a reviewer as "an engine of opera development in the UK.. with stated purposes consistent with the above objects, but specifically declared as follows.. To provide opportunities for young singers to perfomi, in a fully staged production with orchestra, roles which, early in their careers, they would not be given in a major opera company. To bring high quality live opera at affordable prIS lce a year to North London. In following these purposes. the Trustees have been mindful of the guidan of the Charity Commission in respect of public benefit. The Company also seeks new ways to cooperate with educational and community organizations. Page 2
HGO TRUST LTD (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Achievements and performance a. Main achievements of the Charity The Company held its annual opera concert at St. Michaels Church Highgate in July 2023. In November 2023 the Company presented at Jacksons Lane Theatre eight performances, double-cast, of Engelbert Humperdinck's opera 'Hansel und Gretel,. performed in the original German. It was directed by Jeanne Pansard-Besson and conducted by Thomas Payne. The childrens, chorus was performed by local children. The production was exceptionally well reiVed by both aUdIenS and critics. It received a nomination for a 2023 Off West End Award for opera performance. In April 2024 the Company presented six perfomiances. single-cast, at Jacksons Lane Theatre of Purcell's opera 'The Fairy Queen,. directed by Eloise Lally and with a period orchestra conducted by Seb Gillot. This production was also well reiVed (and was effectively sold outl and has received nominations for 2024 Off West End Awards for Best Opera Production. with three of the singers receiving nominations for Best Opera Performance. Financial review a. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves policy The company has no specific policy on reseNes. e.g. a ratio betsveen reseNes and turnover. The trustees review the reseNes each year. At the end of this reporting year reserves were £54,419, compared with £84,317 at the close of the previous year. Of these funds £21.188 were restricted, being dedicated to the Company's Singers and Hulse Funds (2022- £27,413). The trustees will endeavour to ensure a continuing appropriate level of reseNes. Page 3
HGO TRUST LTD (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 c. Principal funding The nearest the company has to guaranteed income is the subscriptions received from Friends who have committed to annual giving by standing order. The rate of recruitment of new Friends has been no more than steady and we seek to improve this situation. The company's Singer's Fund was launched in June 2022 specifically to help towards singers, expenses. The company is also in receipt of donations from the Hulse Bequest to provide support for singer training. The company received donations for 'The Fairy Queen, from Gilbert and Vahideh Hall and from an anonymous donor. During the year 2023124 the company was successful in bids for support to the following organizations, to which it is grateful'.- The Arts Society Greater London Area The Maria Bjornson Memorial Fund The Golsoncott Foundation The Boris Karloff Charitable Foundation The D'oyly Carte Charitable Trust The Fidelio Charitable Trust. The Thistle Trust The Continuo Foundation Their donations were used to enable payment of expenses to singers and to support core costs of the productions. The Continuo Foundation provided support for the HGO Antiqua Orchestra, the period ensemble which accompanied our production of'The Fairy Queen,. d. Review of the Year Attached is the Statement of Financial Activities of the Company. Save for the exceptional example of Partenope. each opera production loses money on a trading basis, as to raise ticket prices to cover costs would prove both counter-productive and would disadvantage our key audiences. The threat of a continual and growing deficit has to date been made good by grants, donations and fundraising activities. Structure, governance and management a. Constitution The Company has a relationship, as its sucSS0r, with the Hampstead Garden Opera Trust. That trust receives monies from time to time. typically donations set up under standing orders made prior to 12 September 2016. Such monies are transferred regularly into the account of the Company. The trustees are continually mindful of the risks being run. The principal ongoing risks are seen as being loss of key personnel, poor audien response to a production, and not attracting sufficient funding. To this end the company's Executive Committee continues to seek sources of funding over and above ticket sales and the subscriptions of Friends of HGO Trust Ltd and of Hampstead Garden Opera Trust. Page 4
HGO TRUST LTD (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Structure, governance and management (continued) b. Methods of appointment or election of Trustees We regret to report the continuing illness of our Chairman Emeritus Alastair Macgeorge at the time of writing. Roger Sainsbury and Martin Musgrave resigned as Trustees following October 2023 due to personal commitments. We are enormously grateful for the tremendous input of Roger, as our previous Chairman, and of Martin, our former Vice-chairman. which enabled the strengthening of the output and reputation of the Trust over their years of seNice, and are delighted that they remain Members of the Company. Philip Sheffield has kindly undertaken the role of Vice-chairman. We are glad to have been able to recruit three new non*xecutive Trustees - Stuart Barker, Michael Harper and Caroline McLaren - whose knowledge and experience we are confident will strengthen our activities. c. Organisational structure and decision-making policies The company has no paid staff or premises. Administrative work is carried out by volunteers. The Executive Committee, which is the regular managing body of the Company, met regularly during the year. The Committee consisted of David Conway. who chairs the Committee. Kathy Dallas, William English, Richard Hall, Roger Sainsbury (resigned October 2023). Tony Mclntyre and Philip Sheffield. ststement of Trustees. responsibilities The Trustees (who are also the directors of the Charity for the purposes of company law) 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). Company law requires the Trustees to prepare financial statements for each financial year. 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 Charity and of its incoming reSoUrS and application of resources, including its income and expenditure, 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 of the Charities SORP (FRS 102)., make judgments and accounting estimates that are reasonable and prudent" state whether applicable UK Accounting Standards {FRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the 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 Companies Act 2006. 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. Approved by order of the members of the board of Trustees and signed on their behalf by.. Page 5
HGO TRUST LTD (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 D Conway (Trustee) Date: 0511212024 W English Page 6
HGO TRUST LTD (A Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2024 Independent Examinerfs Report to the Trustees of HGO Trust LTD ('the Charity.) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 June 2024. Responsibilities and Basis of Report As the Trustees of the Charity (and 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 Charity 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 the Charity's accounts 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 Statement I have completed my examination. I confinn that no matters 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 as required by section 386 of the 2006 Act" or the accounts do not accord with those records,. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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- or the accounts have not 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 in the UK and Republic of Ireland (FRS 102). 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. This report is made solely to the Charity's Trustees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in an Independent Examinerfs Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body. for my work or for this report. Signed.. Dated: 0511212024 lan Saunderson FCA BKL Audit LLP 35 Ballards Lane London N3 1XW Page 7
HGO TRUST LTD (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities Investments 10.000 88,595 48,666 1,504 98,595 48,666 1,504 143,875 87,415 Total income 10.000 138,765 148,765 231,290 Expenditure on: Charitable activities 16.225 162,438 178,663 186,099 Total expenditure 16.225 162,438 178,663 186,099 Net movement in funds {6,225 (23,673 (29,898) 45,191 Reconciliation of funds: Total funds brought forward Net movement in funds 27,413 {6.225) 56,904 (23,673) 84,317 {29,898) 39,126 45,191 Total funds carried forward 21,188 33,231 54,419 84,317 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 10 to 19 form part of these financial statements. Page 8
HGO TRUST LTD (A Company Limited by Guarantee) REGISTERED NUMBER: 10085558 BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Note Current assets Debtors 10 39,618 39,558 64, 777 28,867 Cash at bank and in hand 79.176 93,644 Creditors.. amounts falling due within one year (24.757) (9,327) Net current assets 54,419 84,317 Total assets less current liabilities 54,419 84,317 Total net assets 54,419 84,317 Charity funds Restricted funds Unrestricted funds 12 12 21,188 33,231 27,413 56,904 Total funds 54,419 84,317 The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordan with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees on 0511212024 and signed on their behalf by.. D Conway (Trustee) W English The notes on pages 10 to 19 fomi part of these financial statements. Page 9
HGO TRUST LTD (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 General information HGO Trust Ltd. is a Charitable Company estabished on 25 March 2016 by Memorandum and Articles of Incorporation. Accounting policies 2.1 Basis of preparation of financial statements The financial statements 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). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. HGO Trust Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transacts'on value unless othewise ststed in the relevant accounting policy. 2.2 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of Financial Activities on a re1vable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received. the income is accrued. 2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each acb'vity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of reSoUrs. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. 2A Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Page10
HGO TRUST LTD (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies (continued) 2.5 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.6 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or ServIS it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability.The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 2.7 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Page11
HGO TRUST LTD (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Income from donations and legacies Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Donations GiftAid 10,000 43,693 6,363 38,539 53,693 6.363 38,539 Theatre Tax Relief 10,000 88,595 98,595 Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Donations Gift Aid Theatre Tax Relief 24,000 2,250 74, 552 3,818 39, 255 98,552 6, 068 39,255 26,250 117,625 143,875 Income from charitable activities Unrestricted funds 2024 Total funds 2024 ConrtS and stage perf0mlanS 48,666 48.666 Unrestricted funds 2023 Total funds 2023 ConrtS and stage perforManS 87,415 87,415 Page 12
HGO TRUST LTD (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Investment income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Investment income - other local unlisted 1,504 1.504 Analysis of expenditure on charitable activities Summary by fund type Restricted Unrestricted funds funds 2024 2024 Total 2024 ConrtS and stage perforManS 16,225 162,438 178,663 Restricted Unrestricted funds funds 2023 2023 Total 2023 Concerts and stage perforManS 13,450 172,649 186, 099 Anatysis of expenditure by activities Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Concerts and stage perforManS 172,493 6,170 178,663 Page13
HGO TRUST LTD (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Anatysis of expenditure by activities (continued Activities undertaken directly 2023 Support costs 2023 Total funds 2023 ConrtS and stage perf0mlanS 180,516 5,583 186, 099 Anatysis of direct costs Concerts and stage performanc es 2024 Total funds 2024 Other performances Staged Opera 21,071 151,422 21,071 151.422 172,493 172.493 Concerts and stage performance Total funds 2023 2023 other perforManS Stsged Opera 2,224 178,292 2, 224 178,292 180.516 180,516 Page 14
HGO TRUST LTD (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Anatysis of expenditure by activities (continued Anatysis of support costs Concerts and stage performanc es 2024 Total funds 2024 Insurance 641 641 Accountancy Misc Expenditure Governan costs 4,336 458 4,336 458 735 735 6,170 6,170 Concerts and stage performan Total funds 2023 2023 Subscriptions Insurance 230 607 230 607 Accountancy Misc Expenditure 3, 500 1,246 3, 500 1,246 5, 583 5,583 Independent examiner's remuneration The independent examiner's remuneration for the independent examination and preparation of the accounts amounts to a fee of £2,900 (2023- £2.700). Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 30 June 2024, expenses totalling £NIL were reimbursed or paid directly to Trustee (2023 - £NIL to Tnistee). IEnter details of the nature of the expenses reimbursed I paid directlyl. Page15
HGO TRUST LTD (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 10. Debtors 2024 2023 Due within one year Prepayments and accrued income Tax recoverable 326 1,294 63,483 39.292 39,618 64, 777 Page 16
HGO TRUST LTD (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 11. Creditors: Amounts falling due within one year 2024 2023 other taxation and social security Loan 16.451 2,500 5.806 2,500 6,827 Accruals and deferred income 24,757 9,327 12. Statement of funds Statement of funds - current year Balance at 30 June 2024 Balance at 1 July 2023 Income Expenditure Unrestricted funds General Funds- all funds 56,904 138.765 (162,438 33,231 Balance at 30 June 2024 Balance at 1 July 2023 Income Expenditure Restricted funds Singers Fund Hulse Fund 19,413 8,000 113,413 (2,812) 6,000 15,188 10.000 27,413 10.000 116,225) 21,188 Total of funds 84,317 148,765 (178,663 54,419 Singers Fund.. The Singers Fund is to be used exclusively for the expenses of singers taking part in activities undertaken by the Charity. Hulse Fund.. The Hulse Fund is a bequest to provide support for singer training. Page17
HGO TRUST LTD (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 12. Ststement of funds {continued) ststement of funds - prior year Balance at 30 June 2023 Balance at 1 July 2022 Transfers in/out Income Expenditure Unrestricted funds General Funds- all funds 27,426 205,040 (172, 649) (2,913) 56. 904 Balance at 30 June 2023 Balan at 1 July 2022 Transfers in/out Income Expenditure Restricted funds Singers Fund Hulse Fund 11.700 16,250 10.000 (11,450) (2, 000) 2,913 19,413 8, 000 11,700 26,250 (13,450) 2,913 27.413 Total of funds 39, 126 231.290 (186, 099) 84,317 13. Summary of funds Summary of funds - current year Balance at 30 June 2024 Balance at 1 July 2023 Income Expenditure General funds Restricted funds 56,904 27,413 138.765 10,000 (162,438 116,225 33,231 21,188 84,317 148,765 (178,663 54,419 Page18
HGO TRUST LTD (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 13. Summary of funds (continued) Summary of funds - prior year Balance at 30 June 2023 Balance at 1 July 2022 Transfers in/out Income Expenditure General funds Restricted funds 27,426 11,700 205,040 26,250 (172, 649) (13,450) (2,913) 2,913 56. 904 27,413 39, 126 231,290 (186, 099) 84,317 14. Analysis of net assets between funds Anatysis of net assets between funds - current period Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Current assets Creditors due within one year 21,188 57,988 (24,757) 79,176 (24.757) Total 21,188 33,231 54.419 Anatysis of net assets between funds - prior period Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Current assets 27,413 66,231 (9, 327) 93,644 (9, 327) Creditors due within one year Total 27.413 56, 904 84,317 15. Related party transactions R Sainsbury, a trustee during the year, made a loan to the Charity in a previous period. The amount outstanding at the year end was £2,500 (2023: £2,500). Page19