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 prI￿S ￿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 re￿iVed by both aUdIen￿S 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 re￿iVed (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 suc￿SS0r, 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 reSoUr￿S 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 re￿1vable 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 be￿een those
activities on a basis consistent with the use of reSoUr￿s. 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 ServI￿S 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
Con￿rtS and stage perf0mlan￿S
48,666
48.666
Unrestricted
funds
2023
Total
funds
2023
Con￿rtS and stage perforMan￿S
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
Con￿rtS and stage perforMan￿S
16,225
162,438
178,663
Restricted Unrestricted
funds
funds
2023
2023
Total
2023
Concerts and stage perforMan￿S
13,450
172,649
186, 099
Anatysis of expenditure by activities
Activities
undertaken
directly
2024
Support
costs
2024
Total
funds
2024
Concerts and stage perforMan￿S
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
Con￿rtS and stage perf0mlan￿S
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 perforMan￿S
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).
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