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2024-08-31-accounts

NAVEUROPE

A Charitable Incorporated Organisation

Charity Registered in England & Wales no. 1168983

ANNUAL REPORT AND ACCOUNTS

2023-24

NAVEUROPE

1

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

CONTENTS

Report of the Trustees 2-5
Reference and Administrative Information 6
Statement of Trustees' Responsibilities 7
Independent Examiner's Report to the Trustees 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Accounts 11-15

NAVEUROPE

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

The Trustees present the annual report and financial statements of NavEurope (‘the Charity’) for the year ended 31 August 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice applicable to charities, preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS102).

OBJECTIVES AND ACTIVITIES

The main objective of the Charity is to advance the Christian religion in Europe and such other areas as the Charity Trustees may from time to time decide for the public benefit through evangelism, teaching, mentoring, training, individual personal development, the publication and distribution of related material and such other charitable means as the Charity Trustees may from time to time decide.

We are committed to helping people come to know Christ, to live as Christ’s disciples in society and to be equipped to help others to do the same. This is expressed in our calling: ‘To advance the gospel of Jesus and his kingdom into the nations through spiritual generations of labourers living and discipling among the lost’

Our core values and vision have been identified and these provide the foundation for our strategy for ministry. Throughout our ministry we will continue our focus on

NavEurope is an umbrella organisation for the Navigators in Europe. The Navigators is an international Christian movement seeking to advance the Christian religion worldwide which has a number of affiliated non-profit organisations based in Europe. NavEurope provides support and leadership to the work of Navigator ministries in Europe. NavEurope promotes a mutual exchange of experiences between the various existing Navigator ministries in Europe and seeks to develop ministries in European countries with no national Navigator work. It also maintains links with The Navigators – a non-profit organisation registered in Colorado Springs, Colorado, USA. These objectives are achieved through the provision of financial and human resources and assistance to European Navigator ministries to help them as they work with churches and individuals in teaching biblical principles and understanding of the Christian faith.

The main activities undertaken by the Charity are the support of local Navigator initiatives across Europe, the arranging of Navigator conferences, the development of current and emerging Navigator leaders in Europe, and the provision of European student training programmes.

The Trustees have had due regard to the Charity Commission’s guidance on public benefit. NavEurope is working for the public benefit by supporting Navigator ministries in Europe as they seek to help people understand the transforming power of the Christian Gospel and to be trained both in greater depth of understanding and in ways of sharing their lives with others so they in turn would have a similar impact. This enables individuals to be more responsible for themselves and better able to serve those around them and the communities in which they live.

ACHIEVEMENTS AND PERFORMANCE

The work of NavEurope has continued to progress well during this year, benefiting from the faithful work of many against the receding impact of the Coronavirus pandemic and the ability to meet face to face once again.

During the year, our Regional Director Bill Sparks gave notice that, after seven years of diligent, sacrificial and faithful service, he would be stepping down from his current role. We

NAVEUROPE

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 (continued)

are immensely grateful to Bill and his wife Cathy for the years they have been based in Southampton and overseeing the development and growth of the Navigator work in Europe. An open selection process was held with a number of candidates being put forward. The selection weekend in Budapest was attended by around 40 staff, volunteers and trustees. We had been praying for God’s clear guidance in selecting a leader to follow on from Bill and He did not disappoint us with the overwhelming majority agreeing that Bernard Dishman should take up the role. We are delighted that Bernard has been willing to take on this key role and for his wife Debs’ willingness to support him and the ministry going forward.

We are also delighted that Leila Abdoussalame has joined the staff of Navigators UK, working alongside Naomi Sebborn and Nick Baker, and will be seconded to Navigators Europe on a part time basis. Leila has already made a significant contribution in creating the NavEurope Regional Office; putting in place the virtual IT, communications and project management tools needed to support such a geographically diverse work.

Coinciding with the change of leadership, three members of the European Regional Team stepped back from that role. One of Bernard’s first tasks was to invite new members to join the ERT and it is most encouraging that the Team has been strengthened and enriched with the arrival of new members.

At its first gathering, the new Regional Team undertook a strategic review and identified several areas for attention in the year and years ahead. These include the ERT modelling spiritual vitality and missional fruitfulness as we seek to help others and to implement a series of regional ‘Faith Directions’ that seek missional fruitfulness within our grass roots ministries. The ERT have also identified the vital need to both strengthen and grow our pool of local, national and regional leaders. As 2024 progresses we are seeking to build a leadership framework to complement existing national development programs. We will also be recruiting to and strengthening our team of Mobile Alongsiders, who play a key role in facilitating fruitfulness at the grass roots local ministry level.

Several additional ministries, such as the Missions Working Group, the European Student Network and the Focus Network, have given additional support in countries where Navigator ministries are small or non-existent. With the benefit of these actions, the Navigator ministries in Europe are being strengthened and extended.

Overall, the year has been encouraging in many areas, not least the heart and commitment for the work in Europe as a new recognition of shared responsibility and opportunity among so many involved in the various national ministries. This very positive development has been evidenced in different contexts through the year and is a promising basis for the work going forward.

The Trustees are delighted to report another year of positive achievement and performance against the goals we have set.

Our new Regional Director, Bernard Dishman, has settled well in the role providing clear leadership in a style and manner which has been effective in leading the European Team (ERT) and the wider work forward and creating a positive, supportive and constructively challenging environment.

The members of the ERT have formed a good team together sharing a number of collective responsibilities as well as individual roles where they enjoy the support of others in the group. They are a team who are working hard on the challenges before them and delivering well in a number of divers areas.

One of the main areas of work this year has been progressing the Faith Directons initiative. To do this a number of working groups have been established to take orward individual Faith Challenges and the plan is to present the outcomes for further prayer, decision and actions at the NavEurope Council meeting in March 2025.

NAVEUROPE

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 (continued)

Taken together, our prayer and desire is that the Faith Directions, together with other inititaives, will assist in the aim of unlocking missional fruitfulness at grass roots level across Europe.

We are already seeing some early stages of this, in particular with encouraging developments in countries where historically there have been no recent Nav ministry.

Work has continued on the development and launch of a new leadership development programme in conjunction with a team based in Colorado Springs and this is expected to launch in the Autumn of 2025.

Overall the Trustees are greatly encouraged by the continuing sense of unity within the Navigator community in Europe, the level of commitment to our calling and the positive steps forward being taken.

FINANCIAL REVIEW

The balance sheet shows total net assets of €156,303 (2023: €152,176). There are no funds in deficit in the accounts.

Income

The total income for year was €167,375 (2023: €199,825 ). Of this, €140,079 (2023: €128,947) was received in gifts and contributions from Navigator organisations in Europe and the USA. A further €5,927 was donated by individuals, including tax reclaimed (2023: €6,848). Income from charitable activities (meetings and training courses) of €17,151 (2023: €54,871) was received. The reduction in income from charitable activities reflects a large number of events held in the 2022-23 financial year (including events delayed from previous years due to COVID) and the charity’s ability to cover all of the conference costs of the 2023 annual leaders gathering without requesting a contribution from attendees.

Expenditure

The reduction in the number of events in 2023-24 led to a fall in total expenditure to €163,248 (2023: €213,306), including €62,647 (2023: €51,473) on central support costs. Expenditure related to two significant international gatherings in autumn 2024 led to an increase in prepayments to €17,884 (2023: €3,684),

Reserve Policy

At 31 August 2024 the level of free reserves was €153,193 (2023: €150,323). Reserves are maintained at a level equal to at least six months of operating expenses, with a target value of between six and twelve months of operating expenses (currently €91,907 to €183,814 based on the budget for 2024-25).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

NavEurope is a charitable incorporated organisation based on a Foundation Constitution.

Appointment of Trustees

Each national Navigator organisation within Europe that is registered as a legal entity in its own country and formally recognised by the Board of Trustees of NavEurope is entitled to nominate their Chair or, by agreement with that Chair and in place of that Chair, another member of the Board of that organisation as a Trustee to NavEurope. In addition, the Board

NAVEUROPE

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 (continued)

of NavEurope may appoint up to six Independent Trustees selected by the existing Trustees of NavEurope. However, the number of Independent Trustees must always be less than the number of Country Chairs on the Board. Each nomination will be considered and, if agreed at a meeting of the Board of NavEurope, the individual nominee will be confirmed as a Trustee of NavEurope.

Key Management Personnel Remuneration

Key management personnel comprise the Trustees and the European Regional Director. All Trustees give of their time freely and no director received remuneration in the year. Details of Trustees’ expenses and related party transactions are disclosed in note 13 to the accounts.

In this accounting period Bernard Dishman, the European Regional Director was seconded to this role from the UK Navigators; there was no charge to NavEurope for this secondment.

NAVEUROPE

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 (continued)

REFERENCE AND ADMINISTRATIVE INFORMATION

Charity Registered in England & Wales No. 1168983

Registered Office Turner House 54 The Avenue Southampton SO17 1XQ

Key Management Personnel

Key management personnel comprise the Trustees and the European Regional Director.

Trustees

The Trustees who served during the year and since the year end are:

Independent Trustees

C Appleton (Chair) C Wattez (resigned 6th April 2024) C Hordijk E Yearsley E Angen H Jaeschke (appointed 14[th] January 2025)

Country Chairs (Ex officio Trustees)

F Schlichtenbrede S Wroe D Laco N Guerineau M Halling M M Iversen S Brandsma

Independent Examiner

Joshua Kingston, BSc ACA Burton Sweet Limited The Clock Tower Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Bankers

NatWest plc 5 Market Place Kingston upon Thames KT1 1JX

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 (continued)

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed/constitution. 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.

DECLARATION

The Trustees declare that they have approved the Trustees’ report above.

Signed on behalf of the Board of Trustees:

C Appleton Chair of Trustees

15/03/2025

NAVEUROPE 8 INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF NAVEUROPE FOR THE YEAR ENDED 31 AUGUST 2024

8

Independent examiner’s report to the trustees of NavEurope

I report to the trustees on my examination of the accounts of NavEurope for the year ended 31 August 2024.

Responsibilities and basis of report

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

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

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

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Joshua Kingston, BSc ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Date: 15/03/2025

9

NAVEUROPE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024 (including income and expenditure account)

Note
Income from:
Donations and legacies
2
Charitable activities
3
Investments
TOTAL
Expenditure on:
Charitable activities
4
Supporting Navigator initiatives in Europe
Leadership development
Student training programmes
TOTAL
Net income/(expenditure) and net movement in funds
7
RECONCILIATION OF FUNDS
Total funds brought forward
11 & 1
TOTAL FUNDS CARRIED FORWARD
11		 Unrestricted
funds
€
139,327
17,151
2,961
159,439
78,040
56,559
21,970
156,569
2,870
5
150,323
153,193		 Restricted
funds
€
7,936
-
-
7,936
6,679
-
6,679
1,257
1,853
3,110		 2024
Total
€
147,263
17,151
2,961
167,375
78,040
63,238
21,970
163,248
4,127
152,176
156,303		 2023
Total
€
142,737
54,871
2,217
199,825
81,466
110,403
21,437
213,306
(13,481)
165,657
152,176

Prior year comparatives are disclosed in note 14.

The Charity has no other recognised gains or losses other than the results for the year as set out above. All the activities of the Charity are classed as continuing.

The notes on pages 11 to 15 form part of these financial statements.

CIO 1168983

NAVEUROPE

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BALANCE SHEET AS AT 31 AUGUST 2024

Note
CURRENT ASSETS
Prepayments and debtors
9
Cash in bank and in hand
CURRENT LIABILITIES
Creditors: amounts falling due within one year
10
NET CURRENT ASSETS
TOTAL NET ASSETS
STATEMENT OF FUNDS
12 & 15
Unrestricted funds
Restricted funds
TOTAL FUNDS		 €
€
19,912
139,980
159,892
(3,589)
(3,589)
156,303
156,303
153,193
3,110
156,303
2024		 €
€
3,928
155,925
159,853
(7,677)
(7,677)
152,176
152,176
150,323
1,853
152,176
2023

Approved by the Trustees on 15/03/2025 and signed on their behalf by C Appleton.

The notes on pages 11 to 15 form part of these financial statements.

11

NAVEUROPE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

1 ACCOUNTING POLICIES

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

a. Basis of accounting
The financial statements have been prepared in accordance with the historical cost convention (except where otherwise
stated in the accounting policy note) and in accordance with the Statement of Recommended Practice: Accounting and
Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the
UK and Republic of Ireland (FRS 102) issued in October 2019, and the Financial Reporting Standard applicable in the
United Kingdom and Republic of Ireland (FRS 102), and the Charities Act 2011.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the
Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This
departure has involved following 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) issued in October 2019 rather than the Accounting and Reporting by Charities:
Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The accounts are prepared in euros as the Charity operates predominantly in this currency.
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern,
despite the impact of the rapidly rising cost of living across Europe. Donations to support the work of the Navigators
across Europe have broadly remained stable and the charity's strong reserves ensure that it is in a good position to
continue supporting the development of Navigator work across Europe.
b. Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the
Charity. Unrestricted designated funds are unrestricted funds set aside by the trustees for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an
appeal.
c. Income
All income is included in the Statement of Financial Activities when the Charity is entitled to it and the amount can be
quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Income from donations and legacies is received by way of donations and gifts and is included in full in the Statement of
Financial Activities when receivable, including the related tax recoverable under the Gift Aid scheme.
Donated assets, services and facilities are included at the value to the Charity where this can be quantified. The value of
services provided by volunteers has not been included in these financial statements.
Income from investments is included when receivable.

d. Expenditure

d. Expenditure d. Expenditure
Expenditure is recognised on an accrual basis, as a liability is incurred. Expenditure includes VAT, which cannot be
recovered and is reported as part of the expenditure to which it relates.
Expenditure related to raising funds comprises the costs associated with attracting voluntary income.
Expenditure related to charitable activities comprises those costs incurred by the Charity in the delivery of its activities. It
includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to
support them.
Governance costs are included within central support costs.
Central support costs are allocated to the different charitable activities on the basis of estimated time spent by the
support staff. These estimates are reviewed annually.

e. Debtors

f. Cash at bank and in hand

g. Creditors and provisions

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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 (continued)

2 INCOME FROM DONATIONS AND LEGACIES

Donations
3
INCOME FROM CHARITABLE ACTIVITIES
Meetings and Conferences
Next Gen Training Course
Student training programmes
4
EXPENDITURE ON CHARITABLE ACTIVITIES
Supporting Navigator initiatives in Europe
Leadership development
Student training programmes		 Unrestricted
funds
€
139,327
139,327
Unrestricted
funds
€
-
-
17,151
17,151
Direct
costs
€
47,165
34,886
18,550
100,601		 Restricted
funds
€
7,936
7,936
Restricted
funds
€
-
-
-
-
Central
support costs
€
30,875
28,352
3,420
62,647
2024
2024
2024		 Total
€
147,263
147,263
Total
€
-
-
17,151
17,151
Total
€
78,040
63,238
21,970
163,248		 Unrestricted
funds
€
135,795
135,795
Unrestricted
funds
€
37,226
-
17,645
54,871
Direct
costs
€
56,162
87,185
18,486
161,833		 Restricted
funds
€
6,942
6,942
Restricted
funds
€
-
-
-
-
Central
support costs
€
25,304
23,218
2,951
51,473
2023
2023
2023		 Total
€
142,737
142,737
Total
€
37,226
-
17,645
54,871
Total
€
81,466
110,403
21,437
213,306

Central support costs are analysed in note 5.

Central support costs were divided on the basis of support staff time, with the split between charitable activities for each member of staff reflecting the particular activities they are involved with.

5 CENTRAL SUPPORT COSTS

==> picture [352 x 74] intentionally omitted <==

----- Start of picture text -----
2024 2023
€ €
Costs relating to seconded staff 20,566 27,663
Costs relating to provision of support services 20,113 8,010
Rent of premises 7,767 4,748
Administration, communications and other charity running costs 5,321 263
Governance 11,588 12,211
Other (analysed in note 6) (2,708) (1,422)
62,647 51,473
----- End of picture text -----

6 OTHER CENTRAL SUPPORT COSTS

==> picture [352 x 45] intentionally omitted <==

----- Start of picture text -----
2024 2023
€ €
Exchange rate adjustments related to funds held in US dollars (566) 2,754
Exchange rate adjustments related to funds held in sterling (2,142) (4,176)
(2,708) (1,422)
----- End of picture text -----

13

NAVEUROPE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 (continued)

7 NET INCOME / (EXPENDITURE) BEFORE TRANSFERS

This is stated after charging:

Independent examiner's remuneration 2024
€
1,948		 2023
€
1,737

8 STAFF COSTS AND NUMBERS

The charity had no employees; therefore no employee received more than €70,000 in the current or prior year. Employment benefits received by key management personnel - €nil (2023: €nil).

9 PREPAYMENTS AND DEBTORS

Debtors re income from charitable activities
Debtors re bank interest
Prepayments re costs of charitable activities		 2024
€
1,746
282
17,884
19,912		 2023
€
-
244
3,684
3,928

10 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Deferred Income re Charitable Donations
Creditors/accruals re cost of charitable activities:
Other creditors
Accruals		 2024
€
1,131
510
1,948
3,589		 2023
€
548
5,392
1,737
7,677

NAVEUROPE

14

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 (continued)

11 MOVEMENT IN FUNDS

Prior year comparatives are disclosed in note 15.

At
1 September 2023
€
UNRESTRICTED FUNDS
General Reserve
150,323
150,323
RESTRICTED FUNDS
Leadership support fund
(i)
539
Inner Frontiers support fund
(ii)
1,314
1,853
TOTAL FUNDS
152,176		 Income
and gains
€
159,439
159,439
6,679
1,257
7,936
167,375		 Expenditure
and losses
€
(156,569)
(156,569)
(6,679)
-
(6,679)
(163,248)		 At
31 August 2024
€
153,193
153,193
539
2,571
3,110
156,303

(i) Leadership support fund holds restricted gifts given for the support of named leaders or emerging leaders within the Navigators in Europe.

(ii) Inner Frontiers support fund holds restricted gifts given for the support of specific Inner Frontiers initiatives within Europe.

12 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Net current assets
Total net assets at 31 August 2024
Net current assets
Total net assets at 31 August 2023		 Unrestricted
funds
€
153,193
153,193
Unrestricted
funds
€
150,323
150,323		 Restricted
funds
€
3,110
3,110
Restricted
funds
€
1,853
1,853		 2024
Total
€
156,303
156,303
2023
Total
€
152,176
152,176

None of the trustees received any remuneration in the year (2023 €nil).

Travel expenses of €1,628 (2023: €4,077) were reimbursed to six (2023: eight) trustees, Accomodation and subsistence expenses of €1,252 (2023: €20) were reimbursed to two (2023: one) trustees and other expenses of €26 (2023: €nil) were reimbursed to one (2023: nil) trustee. Two Trustees (2023: one) waived expenses of €402 (2023: €921).

Donations including gift aid recovered of €5,838 (2023:€6,588) were received from trustees. No donations were received from key management personnel and other related parties (2023: €nil). There were no other related party transactions during the year.

13 TRUSTEE TRANSACTIONS

NAVEUROPE

15

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 (continued)

14 PRIOR YEAR FUND COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Income from:
Donations and legacies
Charitable activities
Investments
TOTAL
Expenditure on:
Charitable activities
Supporting Navigator initiatives in Europe
Leadership development
Student training programmes
TOTAL
Net (expenditure) and net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
€
135,795
54,871
2,217
192,883
77,805
103,871
21,437
203,113
(10,230)
160,553
150,323		 Restricted
funds
€
6,942
-
-
6,942
3,661
6,532
-
10,193
(3,251)
5,104
1,853		 2023
Total
€
142,737
54,871
2,217
199,825
81,466
110,403
21,437
213,306
(13,481)
165,657
152,176

15 PRIOR YEAR COMPARATIVES FOR THE MOVEMENT IN FUNDS

At
1 September 2022
€
UNRESTRICTED FUNDS
General Reserve
160,553
160,553
RESTRICTED FUNDS
Leadership support fund
(i)
2,779
Inner Frontiers support fund
(ii)
2,325
Pandemic Relief fund
(iii)
-
Retirement Gifts fund
5,104
165,657		 Income
and gains
€
192,883
192,883
4,292
-
2,650
6,942
199,825		 Expenditure
and losses
€
(203,113)
(203,113)
(6,532)
(1,011)
(2,650)
(10,193)
(213,306)		 At
31 August 2023
€
150,323
150,323
539
1,314
-
1,853
152,176

TOTAL FUNDS

(ii) Inner Frontiers support fund holds restricted gifts given for the support of specific Inner Frontiers initiatives within Europe.

(iii) Pandemic Relief Funds holds restricted gifts to support Navigator workers experiencing hardship due to the COVID-19 pandemic.