Re9iStered Charlty Number: 1169845 mpany Number- 10157307 THE CHAMBERLAIN HIGHBURY TRUST (A COMPANY LIMITED BY GUARANTEE) UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 IHOMAS +YounG "I AUD,'"-R
THE CHAMBERLAIN HIGHBURY TRUST CONTENTS OF THE FINANCIAL sfATEMEprrs FOR THE YEAR ENDED 31 MARCH 2024 Page Referen and Administrative Detsils of the Charity, its Trustees and Advisers Trustees, Rq 2to6 Independent Examinerfs Report ststement of Financial Activities BalarKe Sheet Notes to the Finartcial Statements IOto15
THE CHAMBERLAIN HIGHBURY TRusr REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 DIREcfoRS AND TRusfEES Shilpa Amin (apwinted Drnber 2023) Dr Phillada Ballard (reappK)inted October 2022) Prof M Butler (retired Oct 2023) Dr D J F Cresswell (reapinted OctoLEr 2023) air P M Davis (retird October 2023) Indi Deol {aptx)inted DecemiEr 2023) Ms S E Edwards (retired (ktokr 2023) Prof I D Grosvenor (retired Ottober 2023) Sebastian Harding (apwinted December 2023) air Brigid Jones (retired October 2023) Mr D N Kidney (appointed April 2021) Ms D Mattison (appointed April 2023) Ms C L Organ (apkK)inted April 2021) Katharine Perry (appL)inted DecemiEr 2023) Ms L Portelly (appointed October 2021) Mr Martin Straker-wekls (apwinted by Birmingham City Council October 2022) Mr M S Williams (retired CktoLEr 2023) COMPANY SEcRARy Ms C L Organ CHARrrY REGISTERED NUMBER 1169845 COMPANY REGISTERED NUMBER 10157307 PRINCIPAL OFFICE Highburyi 4 Yew Tree Road Moseley Birmingham B13 8QG INDEPENDENT EXAMINER Thomas and Young knmited Carleton House, 266-268 StratFord Road Shirley Solihull West Midlands B90 3AD BANKERS Natwest Bank 112a High Street Kings Heath Birmingham 814 7LQ Page I
THE CHAMBERLAIN HIGHBURYTRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Directors, who are also Trustees of the charity for the pUry>0 of tharity law, are pleased to present their annual repK)rt for the year ended 31 March 2024. The Twstees confim that the annual rep)rt and finanoal statements of the charty comply with the Companies Att 2006, Charities Act 2011, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practi (SORP) "Accounting and RepL)rting" by Charities" 2019. Structurei govefflan and management Constitution The d)arity Is govemed by its Memorandum and Article5 dat&J 30 April 2016. The principal obi&ts of the charity are: to promote for the benefit of the public the cOnseNatn, protection and improvement of the physical and natural environment of the land and buikdings known as the Highbury Estste on the borders of Moseley and Kings Heath, Birmingham, West Midlands, including the Grade l[ listed house and the Grade II registered historic park forniing part of the Highbury Estate. to advan the education of the public in: the history of the Chamtsedain family and in partScular (but not limited to) their legacy in relation to avic leadership. the history and heritsge of the Highbury Estate; and the mn5ervation, protection and improvement of the physical and natural environment. to promote Sla[ indusion for the publlc benefit by preventing rEople from becoming s(xialty excluded, relieving the needs of those people who are la1 excluded and assisb'ng them to integrate into scxiety; to advance the ucatIon of the public by promoting, fostering and encouraging the knowledge, understanding and appreciation of the arts in particular (but not limited to) within and around Birmingham. and to further such other exclusively charitsble purposes according to the law of England and Wales as the Trustees in their absolute dlscretion fn)m time to time determine. Appointment or elertion of Trustees When TNstees retire (ether by Choi or at the end of their pemiitted term of off) or their appointment is terminated, the app)intment of new Trustees is by open adverbment, competition and inteNiew except that the Memorandum and AcleS of Association Fermit Bimingham City Council to aptoint I0 Trustees, wlTh)se appointments are govern1 by the Council's plures. During 2023124, three Trustees retir&1 at the end of their term of office without seeking reappDintrnent, tNo Twstees apkX)inted by Birmingham Council retired and will be replac&1 by t0 new Counal appointees, and one Trustee retired mid-term due to moving out of the area. During the year, four new Trustees were recruited by ¢)pen advertisement, competition and Interview. Page 2
THE CHAMBERLAIN HIGHBURYTRUST TRusfEES' REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2024 structurep governance and management (Continued) Trustee Training Whilst all Trust had experien of trusteeship or similar K)nSibIlItieS at the time of their apwintmen[ the Company Secretary has regularly drawn to Trust, attention guidance and advi from the Charity CDmmission and other rdevant sources. Trustees with specific professional qualifi12tions and other responsibilities have attended training levant to those professions and resFonsibilities. The Trust is committed to undertaking regular skills audits of trust&s to ensure Trustees are competent to discharge their ststut¢xy resFonsibilities and duties, Most recent, a skills audit was carried out in summer 2024 (outside the peri(xl covered by this report). Poliaes and objectives The Trustees regularly review their tolicies ar)d make changes ar additions as required. The Trustees plan a fvll programme of activities for each year. In setbng the aims and objL£tives and in planning future activities, the Trustees give due consideration to general guidance published by the Charity Commission rdating to public trEnefEt. The Trust remains committed to the renovation of Highburfs mansion and grounds so that the estate can be Open to the people of Birniingham as was envisag1 when it was first gifted to the citizens by the Chamberfain family. A thlopment gftnt was seajred from the National Lottery Heritage Fund (NLHF) in September 2021 and this funding of £368,000, tcrfJether with additional funding from Birmingham City Council, the Highbury Trust and CHT'S own resour5, paKI for a professional team to draw up restoration plans to RIBA stsge 3 readiness ak)ng with an interpretsti¢)n plan and a business plan and costings by a Quantity SuNeyor (estimated project Costs £12M). CHT'S application to NLHF for a delivery grant ofjust over £5M was submitted August 2023, tKJt the s¢ttJation has since become problematic due to Bimiingham Qty Counal making two annoUnments under Section 114 of the L(Kal Government Finan Att 1988. Risk Management The Trustees have created and maintain a risk register which Tru5tee5 review at every meetirwj of the Trust Board. The Trustees seek to Klentify all relevant strategic risks, to take measures to eliminate them or, where elimination is not possible, to take action to mitigate the risk and to manage the re$Uary risk After the Tnjst Su55fvIlY obtsined a devek)pment grant from NLHF on 20 September 2021, the major risks in the risk ro3iSter revolved around managing the development phase of the Highbury restoration project and obtsining a delivery grant from NLHF for Highbury's continued restoration over the next few years, Risks induded raising match fundingi construction cost overruns, damage to the fabric of the l)uildingi and failure to maintain gocKI relations with partners, stakeholders, tenants, IcKal residents and neighbours. Since completion of the development phase, the Twstees have reviewed the risk register and made changes aimed towards managing the delivery of the major restoration project. The amended risks have subsequently had to te augmented by additional risks around the Council's Section 114 status. Page 3
THE CHAMBERLAIN HIGHBURYTRusr TRusfEES' REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2024 Structurei governance and management (Contlnued) Risk Management (Continued) When the restoration project is completed, the mansion will regularly be open for visitors (an admission charge will apply) and the grounds will be on to the public for free all year round. CP has appropriate in5uTrn arrangements in plao. Achievements and perfomiance During the year, the TStees, successfully completed the development phase of its stOratIOn projert and approved plans for the restoration of the Highbury Estate to RIBA Stage 3 readiness, costed at £12M. The mansion was opened for vlsitors for numerous Open Days, the grounds c(mtinued to be open for visitors for fr every day and the Trustees managed a small paid team of managers and 50 plus vOluntr$. As repK)rted above, there were some changes to the Composit)n of the Trust Board and these changes were Tnanaged without any adverse disruption to the Trusvs operations. New Trustees were all inducted appropriately. The Trustees agreed to accept a Boardroom Apprenti for 12 months under a scheme operated by the Ministy for Housing, Communities and LcKal vernMent. Youth Board The Trustees contlnue to operate a young leadership eduCatiC and training pr(MJramme for cohorts of young wple from Birmingham and its surrounds. The restoration plans include the provision of a dajicated learning ntre for the future operation of thi5 programme. From those young people who participate in the young leadership education and training attivities, the Trustees appoint a Youth Board and members of the Youth Board are consulted on all astRts of the Trust, work with a view to the co-pr(xluction of plans for the future development of Highbury and ts activities. National Lottery Heritage Fund (NLHF) The Trustees acknowledge the development grant receiv from NLHF in September 2021 and this acknowledgernent is also recorded on the TnJsV5 website and in all relevant communications and acbvities of the Twst. The Trustees ad(nowledge the contribution made by individual Lottery players without which NLHF would not be able to assist projects like the Twsys restoration proj for Highbury. The Tnjst took part in a week of trlebration of the contribution made by Lottery Players during Marth 2023 with open access and guided tours of Highbury available to Lottery players. The Trustees have committed to consider lasting ways of embedding this acknowledgement in the restorntion work5 and future activities of the Trust. Heritage Open Day The Trustees On again participated in the Bimiingham Heritsge Wk in 2023, holding a Heritage Open Day in September 2023. The Heritage Open Day at Highbury on 10 September attract8J nearly 200 visitors who took mansion tours, grounds tours, and our"Hidden Highbury" tour (which gives visitors insight into the poor condition of the mansion in areas not currently 0[n to the public at any other time) as well as casual visitors to the mansbn and grounds who looked round for themselves. Page 4
THE CHAMBERLAIN HIGHBURYTRUST
TRusfEES' REPORT (Continued)
FOR THE YEAR ENDED 31 MARCH 2024
Structurei governance and management (Contlnued)
Communications
The Trustees engaged with a wtde Trrge of stskeholders (the stakeholders have been mapped)
throughout the year by means of the Trust's Twitter and Facebook accounts, its website
hb
us
.co.uk), a monthly newsletter upjating all subscribers on key news
and forthcoming events, emails and organised communication and consultation meetings at
Highbury.
Financial review
Income for the year totalled £563,061 (2023., £253,588) and charitsble expenditure totalled
£405,454 (2023: £247,854). As at 31 March 2024, the Trust had total £248,232 (2023: £90,625)
of which £51,747 (2023: £48,096) were unrestricted furKls and £196,485 (2023; £42,529) were
restrictttl funds.
Reserves policy
The Trustees aim to maintain reserves at a level suffiaent to suFF
THE CHAMBERLAIN HIGHBURYTRusr TRusfEES' REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2024 Trustee Responsibilities The Trust, who are also direttors of The Chamterlain Hhbury Tnjst for the putposes of company law, are responsible for preparing the Trustees, Annual Report and the finanaal statements in aordan with applicable law and United Kingdom Accountirg Standards (United Kingdom Generally Accepted Accounting Practice). Company law 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 charitsble company and of the incoming resources and application of resour, including the Inrne and expenditure, of the charitsble company for that tmcd. In preparing these financial statements, the Trustees are required to: selett suitable accounting policies and then apply them consistenuy; observe the meth(xJs and prinaples in the Charities SORP 2019; make judgements and estimates that are reasonable arKI pnJdent; state whether applicable UK Accounting Stsndards have bn follow, subjert to any material departure5 disclosed and explained in the financial statements; prepare the financial statements on the going cOrM basis unless It is inappropriate to presume that the charitable Company will continue in operation. The Trustees are reswnsible for keeping adequate accounting records that disdose with reasonable accuraLry at any b.me the financial tJ)sition of the charitable company and enable them to ensLtre that the financial statements compty with the Companies Art 2006. They are alxs restxinsible for safeguarding the assets of the charitsble company and hen taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the Maintenan and integrity of the corpDrate and financial information included on the charitable companvs website. Legislation in the United Kingdom goveming the preparation and dissemination of finanoal statements may differ from legislation in other jurisdictions. In preparing this report, the Trustees have taken advantage of the small companles exemptions provid8J by section 415A if the Companies Act 2c. This report was approved by the Trustees on and signed on their behalf by: Signed by: Mr D N Kidneyi Trustee and Chair of the Trust Board Date: orto Page 6
THE CHAMBERLAIN HIGHBURY TRusr REPORT OF THE INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES OF THE CHAMBERLAIN HIGHBURY TRusr I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024, which are set out on page5 8 to 15. Responsibilities and basFs of report As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in aCcOrdae wlth the requirements of the Companies Act 2006 Cthe 2006 ACV). Havlng satisfEd myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are ellglble for independent examination, l pOrt in respect of my examination of your company's accounts as carried out under Secbon 145 of the Charities Att 2011 Cthe 2011 ACV). In carrying out my examination I have followed the Directions gwen by the Chaiity Commission urKler Settion 145(5)(b) of the 2011 Act. Independent examinerfs statement Since the company's gross income exceeded £250,000 your examiner must be a member of a bcxjy listed in Sertion 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a memtEr of the Institute of Chartered Accountants in England & Wale5, which is one of the listed bcdies. I have cixnpleted my examination. I confinn that no matters have come to my attention In COnnOn with the examination giving me cause to believe that in any material reSPt. accounting records We not kept in respect of the company as requlred by Section 386 of the Act 2006, or the accounts do not accord with those record5. or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Att other than any requirement that the accounts give a 'true and fair Vie which is not a matter considered as part of an independent examination,. or the accounts have not been prepared in accordan with the methods and principle5 of the ststement of Recommended Practice for accounting and rtIng by Charle$ applicable to charities preparing their accounts in accordan with the Finanaal ReFQrting Standard applicable in the UK and Republic of Irelarbd (FRS 102). I have no concems 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 reach. Mrj CartyACA FCCA Thomas and Young Chartered Accountsnts Carleton House 266-268 Stratford Road Shirtey, Solihull West Midlands B90 3AD Date.. 1• Page 7
THE CHAMBERLAIN HIGHBURY TRusr STATEMENT OF FINANCIAL AcrInEs FOR THE YEAR ENDED 31 MARCH 2024 Year ended Year ended 31 March 31 March 2024 2023 Unrestricted Restrlcted INCOME FROM Donations Grants Other irtcome 35,162 35,162 527,084 815 28,118 225,416 527,084 815 TOTAL INCOME 35,977 527,084 563,061 253,588 EXPENDrnJRE ON Charitsble activities 32,326 373,128 405,454 247,854 TOTAL EXPENDrruRE 32,326 373,128 405,454 247,854 NET INCOME FOR THE YEAR 3,651 153,956 157,607 5,734 Transfer between funds Net movement in funds 3,651 153,956 157,607 5,734 Totsl funds at l April 2023 48,096 42,529 90,625 84,891 TOTAL FUNDS AT 31 MARCH 2024 51,747 196,485 248,232 90,625 The notes on pages 10 to 15 fom part of these flnancial ststements. Page 8
THE CHAMBERLAIN HIGHBURY TRUST BALANCE SHEEr AS AT 31 MARCH 2024 2024 2023 Note CURRENT ASSErs Debtor5 Cash at bank 968 255,353 25,416 118,345 256,321 143,761 CURRENT LIABILrrIES Creditors (8,089) (53,136) NE[ CURREMf ASSErs 248,232 90,625 ASSErs 248,232 90,625 CHARrrY FUNDS Unstricted funds Restricted funds 51,747 196,485 42,529 TOTAL FUNDS 248,232 90,625 The Trustees consider that the chaiitable company is entitled to exemption from the r4uirement to have an audit under Section 477 of the Companies Act 21)06 and members have not required the tharitable company to obtain an audit of its accounts for the pericd in question in a¢xordan with Section 476 of the Act. The Trustee5 acknowledge their reswnsibilities for ensuring that the charitable company kp5 accounting records which comply with Section 386 of the Companie5 Att 2006, and for preparing financial statements which give a true and fair view of the stste of affairs of the charitable company as at 31 March 2024 and of its incoming resour and application of reSoUrs, including the net income or expendibjre for the peri¢xJ then ended in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements so far as applicable to the charitable company. The financial statements have been prepared in aC0)rdan with the special provisions of Part 15 of the Companies Att 2006 relating to small companies. The financial ststements were approved by the Trustees on 16th October 2024 and slgned on their behalf by: Mr D N Kidneyi Trustee The notes on pages 10 to 15 forni part of these financial statements. Page 9
THE CHAMBERLAIN HIGHBURY TRUST NOTES TO THE FINANCIAL STATEMEMrs FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES 1.1 Basis of prepardtion of financial slatements The Chamkdain Highbury Trust is a ujmpany limited by guarantee incortx)rated in England. The address of the registerej Offi is given in the charity information on page l. The accounts have treen prepared under the historical cost convention wf(h items re(Dgnised as cost or transaction value unle55 Othemise stated in the relevant note(s) to the accounts. The charity constitutes a public benefft entity as defined by FRS 102. The finanaal statements have trEen prepared in accordan with Accounting and Rewrting by Charities: Ststement of Recommended practi applicable to charities preparing their accounts in accordance with the Financial ReportÉro Standard applicable in the UK and Ireland (FRS 102), the Finanaal Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Att 2011, the Companies Att 2006 and UK Generalty Accepted Accounting Practi. The fsnancial statements have been wepared on a going conrn basis under the historical cost convention, modified to include rtain items at fair value. The financial statements are prepared in sterling which is the fvnctional currency of the drty. The significant aoUntIng policies applied in the preparation of these financial statements are set out below. Fund accounting General funds are unrestritted funds which are available for use at the dlscretion of the Trust in furtheran of the general objertives of the charity and which have not been designed for other purFQ5es. Restricted funds are funds whith are to LE in a(X0rdan with swfic restrictions imposed by donors or which have been raised by the charity for particular puryjoses. Deslgnated funds a furKls which are to be used for purchase of acquisition5 that may 1CoMe available. The cost of raising funds and administering such funds are tharged against the specif fund. The aim and use of each fund is Set (yJt in the notes to the finanaal statements. Incomlng resources All incoming resources are included in the Statement of Financial Attivities when the charity has entidement to the funds, after any prfoMan conditions have been me¢ the amount can be measured reliably and it is probable the income will be received. Page 10
THE CHAMBERLAIN HIGHBURYTRusr NOTES TO THE FINANCIAL sfATEMENTS {Continued) FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (Contlnued) 1.4 Resources expended Expenditure is accnted for on an aci7uals basis and has been inclLKJed under expense categories that aggregate all costs for alIctiOn to activities, Where costs cannot be direcdy attributed to particular activities they have been allocated on a basis consistent with the use of the res(yjr. Irrecoverable VAT is chargcyj as an expense against the activity for which the expenditure arose. 1.5 Going concern The Trustees have considered the current finanaal position of the Trust alongside the future forecasts and budgets and are confident that the Trust has sufficient resources to continue to operate for a period of at least 12 months from the date of signing these finanaal statements. Accordingty, the finandal statements have bn prepared on a going conrn basis as no material UnrtaIntieS exist. DONATIONS 2024 2023 Donattons from the Highl)ury Trust other Donation5 33,300 1,862 28,118 35,162 28,118 Donations of £28,118 were r1Ved in the prior year, £26,840 lated to unrestrlct&J funds and £1,278 relat&1 to restrFCted funds. GRANTS 2024 2023 The Highbury Trust National Lottery Heritage Fund Birmingham City Council other Grants 40,000 106,416 70,000 9,000 261,584 70,000 195,500 527,084 225,416 Grants of £225,416 were received in the prior year all of which related to restil furKts. Page 11
THE CHAMBERLAIN HIGHBURYTRUST NOTES TO THE FINANCIAL sfATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2024 CHARrrABLE EXPENDMIRE 2024 2023 Charitsble artivities Legal and professional fee5 Business support Independent examination fees other costs 11,598 2,550 2,040 389,266 5,117 4,972 1,734 236,031 405,454 247,8 Expenditure in the prior year totall £247,854 of which £18,276 related to unrestricted funds of £229,578 related to restricted furKIs. NEf INCOMING RESOURCES During the pericmj, no Trustees recelved any remuneration (2023,. none). During the peri(Kl, no Trustees received any benefits in kind (2023.. none). During the peri(xl, tmo Trustees received travel expenses totslling £1,080 (2023: £1,536). DEBTORS 2024 2023 VAT Recoverable 25,416 25,416 CREDITORS 2024 2023 Accruals 8,089 53,136 8,089 53,136 Page 12
THE CHAMBERLAIN HIGHBURYTRUST NOTES TO THE FINANCIAL sfATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2024 srATEMENT OF FUNDS Transfer Brought Incomlng Resources between forward resourw expended funds Carried loard ilnrestricted funds General funds Designat funds 38,096 10,000 35,977 (32,131) (195) 41,942 9,805 35,977 {32,326) 51,747 Restrlcted funds Major Project The Gardens Project Rhododendron Proj Celebrating Comms 30,613 4,407 5,OC 2,509 527,084 (373,064) {64) 184,633 4,343 2,509 42,529 527,084 {373,128) 196,485 TOTAL 90,625 563,061 {405,454) 248,232 Major Project - These funds rqxesent monies which will be used to match fvnd fvture NLHF grants if future bids are successful. The Gardens Project - These funds represent various grants that were provided for the Trusys landsope restoration programme for the 30 aues of gardens. The restoration prografflme was ongoing at the end of the year. Celebrating Comms (Pwiously The Birmingham Roots project) - These funds represent a grant from Bimingham City Council to promote community events inspired by the Commnwealth Games. Rhododendron Project - These furKls represent mnies to ensure the Rhojcthndrons planted by Joseph Chamberlain are PrOed and will tr* an imFortsnt feature of the restored gardens at Highbury. Designated funds - These funds represent a fund to be used to purchase objects related to Highbury or the Chamkerlain Family which may become available in due course. Page 13
THE CHAMBERLAIN HIGHBURY TRUST NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2024 8a sfATEMENT OF FUNDS- PIUOR YEAR Trnnsfer between CaThled funds forward Brought Incomlng Resources forward resources expended Unrestricted funds General funds Designated funds 34,478 10,000 26,894 (18,276) (5,01) 38,096 10,000 44,478 26,894 (18,276) (5,LYJO) 48,096 Restricted funds Major Project The Garden5 Project Rhododendron Project Celebrating Comms 27,514 6,832 226,694 (223,595) (2,425) 30,613 4,407 6,067 (3,558) 2,509 40,413 226,694 (229,578) 42,529 TOTAL 84,891 253,588 (247,854) 90,625 ANALYSIS OF NEf ASSErs Unrestricted Funds Restrfcted Funds Totsl Cash at bank a1 in hand Other net current assets 57,522 (5,775) 197,831 (1,346) 255,353 (7,121) 51,747 196,485 248,232 9a ANALYSIS OF NEf ASSEfs- PRIOR YEAR Unrestrfcted Restricted Funds Funds Total Cash at bank and in hand Other net current assets 26,740 21,356 91,605 (49,076) 118,345 (27,720) 48,096 42,529 90,625 Page 14
THE CHAMBERLAIN HIGHBURYTRUST NOTES TO THE FINANCIAL STATEMEKfs (Continued) FOR THE YEAR ENDED 31 MARCH 2024 10 RELATED PARTIES There were no related paty transactions during the FerK)d. See note 5 fcf detsils of Trust expenses paid in the year. 11 MEMBERS The charity is IncoOrat& as a company limited by guarantee having no share capitsl and in accordan with the Memorandum of AsSlatiOn, every member is liable to contribute a sum of £10 in the event of the company being wound up. As at 31 March 2024 there were 8 members. Page 15