Charity number: 1172768
ELEANOR HARRIS CIO
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
ELEANOR HARRIS CIO
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 - 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 19 |
ELEANOR HARRIS CIO
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees Henry Bridge John Davies Faye Dickson Sarah Lea Clive Williams Charity registered number 1172768 Principal office Balfours, New Windsor House Holsworth Park Oxon Business Park Bicton Heath Shrewsbury SY3 5HJ Accountants WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG
Page 1
ELEANOR HARRIS CIO
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their annual report together with the financial statements of the Charity for the year from 1 January 2023 to 31 December 2023. The Trustees confirm that the Annual report and financial statements of the CIO comply with the current statutory requirements, the requirements of the CIO's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (update effective 1 January 2019).
Objectives and activities
a. Policies and objectives
The objects of the CIO are to promote and support the advancement of education of young people in the areas of Baschurch and Weston Lullingfields and the support of the two primary school and of local Cubs, Brownies, Girl Guides, Scout Groups and Church Youth Groups and the provision maintenance and support of such groups, educational establishments, activities and equipment.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
The Charity achieves its objectives by annual donation requests made by Baschurch CE Primary School and Weston Lullingfields Pirmary School, local Cubs, Brownies, Girl Guides, Scout Groups and Church Youth Groups. Detailed donations requests are directed to Trustees and considered for approval at a Trustees Meeting in January of each year.
Charitable funds are raised through rental income from Charity’s fixed assets and CCLA investment portfolio.
Achievements and performance
a. Review of activities
In meeting its charitable objectives, donations were made to both Weston Lullingfields Primary School and Baschurch CE primary School, along with some smaller donations to local organisations. The main focus on donations was improvement on access to IT increasing the number of laptops and tablets available to pupils and enhancement of Music Education through specialist teaching. Whilst meeting these objectives the Charity has continued to maintain and improve the properties within the Estate for the future.
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.
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ELEANOR HARRIS CIO
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
b. Reserves policy
Reserves in 2023 amount to £5,082,694 (2022: £4,923,778) this includes investment property, investments and cash £118,612 (2022: £61,638). Free reserves (excluding investment property) amounted to £1,047,694 (2022: £888,778).
Cash reserves are held in case of any liabilities with regard to Landlord maintenance and repairing obligations. Investments funds are held by the CCLA Investment Management Limited and can be easily liquidated if required.
Structure, governance and management
a. Constitution
The Charity is registered as a Charitable Incorporated Organisation in England and Wales, and has a registered charity number 1172768. It was set up and is constituted under a Constitution dated 21st February 2017. The CIO formerly operated as a charitable will trust with all of its assets and liabilities being transferred into the CIO on incorporation.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the constitution.
c. Organisational structure and decision-making policies
The charity holds a minimum of three Trustee meetings a year to oversee the management of the Charity.
The day to day running of the Charity is delegated to the Managing Agents, Messrs Balfours LLP who are in regular contact with the senior Trustee and other Trustees as appropriate.
d. Policies adopted for the induction and training of Trustees
Each Trustee is given a copy of the Charity’s Constitution, a copy of CIO’s latest trustees’ annual report and statement of accounts. All new Trustees are also given a tour of the Charity’s estate and briefed by the senior Trustee.
Plans for future periods
Future developments
In meeting its charitable objectives, the Charity will continue to maintain and improve the properties within the Estate for the future.
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ELEANOR HARRIS CIO
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
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 (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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:
................................................ John Davies (Trustee)
Date: 18/04/2024
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ELEANOR HARRIS CIO
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
Independent Examiner's Report to the Trustees of Eleanor Harris CIO ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
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ELEANOR HARRIS CIO
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
Independent Examiner's Statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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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.
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 I am required to state to them in an Independent examiner's 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: 11 September 2024 S J Tweedie BSc FCA DChA
WR Partners
Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG
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ELEANOR HARRIS CIO
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| Note Income from: Investments 3 Other income 4 Total income Expenditure on: Charitable activities 6 Total expenditure Net income before net gains/(losses) on investments Net gains/(losses) on investments Net income/(expenditure) Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 129,505 (774) 128,731 57,947 57,947 70,784 88,132 158,916 - 158,916 4,923,778 158,916 5,082,694 |
Total funds 2023 £ 129,505 (774) 128,731 57,947 57,947 70,784 88,132 158,916 - 158,916 4,923,778 158,916 5,082,694 |
Total funds 2022 £ 115,948 6,590 122,538 84,416 84,416 38,122 (98,540) (60,418) - (60,418) 4,984,196 (60,418) 4,923,778 |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 19 form part of these financial statements.
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ELEANOR HARRIS CIO
BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023
| Note Fixed assets Investments 10 Investment property 9 Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Total net assets Charity funds Unrestricted funds 13 Total funds |
13,005 118,612 131,617 (8,831) |
2023 £ 924,908 4,035,000 4,959,908 122,786 5,082,694 5,082,694 5,082,694 5,082,694 |
628 61,638 62,266 (10,265) |
2022 £ 836,777 4,035,000 |
|---|---|---|---|---|
| 4,871,777 52,001 |
||||
| 4,923,778 | ||||
| 4,923,778 | ||||
| 4,923,778 | ||||
| 4,923,778 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
John Davies
(Trustee)
Date: 18/04/2024
The notes on pages 9 to 19 form part of these financial statements.
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ELEANOR HARRIS CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1. General information
This is a Charitable Incorporated Organisation, situated in the United Kingdom. The principal place of business is the pincipal office, the address of which is provided on Page 1. The principal activity of the Charity is to promote and support the advancement of education of young people in the areas of Baschurch and Weston Lullingfields and the support of the two primary schools and of Local Cubs, Brownies, Girl Guides, Scout Groups and Church Youth Groups and the provision maintenance and support of such groups, educational establishments, activities and equipment.
2. 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 Charities Act 2011.
Eleanor Harris CIO meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 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.
2.3 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.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
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ELEANOR HARRIS CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
2. Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 activity 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 between those activities on a basis consistent with the use of resources. .
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 Investments
Fixed asset investments are stated at market value at the balance sheet date. Any movmenets in market value arising during the year are shown as unrealised gains or losses in the Statement of Financial Activities. Investments comprise investment property and share portfolios. Investment property is valued using a diectors' estimate of the market value, supported by professional valuations as appropriate. Shares are reviewed annually through online stock exchange websites.
2.7 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.
2.8 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.
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ELEANOR HARRIS CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
2. Accounting policies (continued)
2.9 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 services 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.
2.10 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2.11 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.
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ELEANOR HARRIS CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
3. Investment income
| Unrestricted funds 2023 £ Local investment properties - rent 114,467 Investment income 14,491 Bank interest - Wayleave 547 129,505 Total 2022 115,948 |
Total funds 2023 £ 114,467 14,491 - 547 129,505 115,948 |
Total funds 2022 £ 100,937 14,435 11 565 |
|---|---|---|
| 115,948 | ||
4. Other incoming resources
| Insurance claims received Sale of Land Total 2022 |
Unrestricted funds 2023 £ (774) - (774) 6,590 |
Total funds 2023 £ (774) - (774) 6,590 |
Total funds 2022 £ 2,590 4,000 |
|---|---|---|---|
| 6,590 | |||
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ELEANOR HARRIS CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
5. Analysis of grants
| Grants to institutions Total 2022 |
Grants to Institutions 2023 £ 18,000 17,300 |
Total funds 2023 £ 18,000 17,300 |
Total funds 2022 £ 17,300 |
|---|---|---|---|
The Charity has made the following material grants to institutions during the year:
| Name of institution Baschurch CE Primary School Weston Lullingfields Primary School Boreatton Scout Group 1st Baschurch Brownies 1st Baschurch Guides |
2023 £ 12,000 4,000 800 600 600 18,000 18,000 |
2022 £ 12,000 4,000 - 300 1,000 |
|---|---|---|
| 17,300 | ||
| 17,300 |
6. Analysis of expenditure by activities
| Expenditure on charitable activities Total 2022 |
Activities undertaken directly 2023 £ 36,739 54,692 |
Grant funding of activities 2023 £ 18,000 17,300 |
Support costs 2023 £ 3,208 12,424 |
Total funds 2023 £ 57,947 84,416 |
Total funds 2022 £ 84,416 |
|---|---|---|---|---|---|
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ELEANOR HARRIS CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
6. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Charitable activities 2023 £ Farm repairs and maintenance 1,798 Residential repairs and maintenance 16,171 Insurance 6,106 Rents paid 79 Management fees 12,585 36,739 Total 2022 54,692 Analysis of support costs Charitable activities 2023 £ Utilities 557 Professional fees - Governance 2,651 3,208 Total 2022 12,424 7. Independent examiner's remuneration Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts |
Total funds 2023 £ 1,798 16,171 6,106 79 12,585 36,739 54,692 Total funds 2023 £ 557 - 2,651 3,208 12,424 2023 £ 2,340 |
Total funds 2022 £ - 35,452 3,758 62 15,420 |
|---|---|---|
| 54,692 | ||
| Total funds 2022 £ 1,081 9,237 2,106 |
||
| 12,424 | ||
| 2022 £ 1,920 |
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ELEANOR HARRIS CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .
During the year ended 31 December 2023, no Trustee expenses have been incurred (2022 - £NIL) .
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ELEANOR HARRIS CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
9. Investment property
| Valuation At 1 January 2023 At 31 December 2023 |
Freehold investment property £ 4,035,000 |
|---|---|
| 4,035,000 |
The valuation of property and land held by the charity was carried out in 2021 by Balfours LLP. There are no restrictions on the ability to realise investment property, or on the remittance of income and proceeds of disposal subject to working within the objects of the charity and the constitution thereof.
The majority of the properties included within the valuation had been inherited from the original charitable will trust and due to their age, did not have a recorded cost.
The Trustees consider the carrying value of £4,035,000 is still representative of the value of the property on an open market basis.
10. Fixed asset investments
| Cost or valuation At 1 January 2023 Revaluations At 31 December 2023 Net book value At 31 December 2023 At 31 December 2022 |
Unlisted investments £ 836,776 88,132 |
|---|---|
| 924,908 | |
| 924,908 | |
| 836,776 |
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ELEANOR HARRIS CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
11. Debtors
| Due within one year Trade debtors |
2023 £ 13,005 13,005 |
2022 £ 628 |
|---|---|---|
| 628 |
12. Creditors: Amounts falling due within one year
| Trade creditors Accruals |
2023 £ 6,491 2,340 8,831 |
2022 £ 8,143 2,122 |
|---|---|---|
| 10,265 |
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ELEANOR HARRIS CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
13. Statement of funds
Statement of funds - current year
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 | 31 | |||||
| January | Transfers | Gains/ | December | |||
| 2023 | Income | Expenditure | in/out | (Losses) | 2023 | |
| £ | £ | £ | £ | £ | £ | |
| Unrestricted | ||||||
| funds | ||||||
| Property fund | 4,035,000 | 114,467 | (36,739) | (77,728) | - | 4,035,000 |
| General fund | 888,778 | 14,264 | (21,208) | 77,728 | 88,132 | 1,047,694 |
| 4,923,778 | 128,731 | (57,947) | - | 88,132 | 5,082,694 | |
| Statement of | funds - prior year | |||||
| Balance at | ||||||
| Balance at | 31 | |||||
| 1 January | Transfers | Gains/ | December | |||
| 2022 | Income | Expenditure | in/out | (Losses) | 2022 | |
| £ | £ | £ | £ | £ | £ | |
| Unrestricted | ||||||
| funds | ||||||
| Property fund | 4,035,000 | 100,937 | (54,692) | (46,245) | - | 4,035,000 |
| General fund | 949,196 | 21,601 | (29,724) | 46,245 | (98,540) | 888,778 |
| 4,984,196 | 122,538 | (84,416) | - | (98,540) | 4,923,778 |
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ELEANOR HARRIS CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
14. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2023 £ Fixed asset investments 924,908 Investment property 4,035,000 Current assets 131,617 Creditors due within one year (8,831) Total 5,082,694 |
Total funds 2023 £ 924,908 4,035,000 131,617 (8,831) 5,082,694 |
|---|---|
Analysis of net assets between funds - prior year
| Fixed asset investments Investment property Current assets Creditors due within one year Total |
Unrestricted funds 2022 £ 836,777 4,035,000 62,266 (10,265) 4,923,778 |
Total funds 2022 £ 836,777 4,035,000 62,266 (10,265) 4,923,778 |
|---|---|---|
15. Related party transactions
During the year ending 31 December 2023 there has been one related party transaction of £ 2,430 (2022:NIL), with Trustee H Bridge. The holding known as Baggy Moor is a farm tenancy held by PJ & FP Bridge & Sons of which H Bridge has been a partner in since 1 January 2023. This tenancy pre dates H Bridge's Trusteeship and there are no outstanding balances as at 31 December 2023.
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